NOV29/GOLD DOWN $3.40 TO $1783.95//SILVER PRICE DOWN 25 CENTS TO $22.86//OPTIONS EXPIRY LONDON OTIC/LBMA/BIS TOMORROW AT 11 AM//COVID 19 COMMENTARIES: ENTRY OF A NEW VARIANT OMICROM WITH 50 MUTATIONS (IT SHOULD NOT BE MORE TRANSMISSIBLE OR OR DEADLY//A VERY IMPORTANT LONDON TELEGRAPH PAPER DESCRIBING THE USE OF SPIROLACTONE ALONG WITH DEXAMETHASONE TO HELP IN THE FIGHT OF COVID ONCE IT ENTERS THE LUNGS//WHITE HOUSE LOSES ANOTHER VACCINE MANDATE CASE IN 10 STATES///CHINA TRIES TO RE LIQUIFY ITS PROPERTY BUSINESS WITH MASSIVE DEBT ISSUANCE BY LOCAL GOVERNMENTS//BRITAIN AND FRANCE GOING AT IT AGAIN WITH RESPECT TO FISHING RIGHTS//ISRAELI DEATHS RISING ESPECIALLY AMONG THE VAXX’D//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1783.95 DOWN $3.40   The quote is London spot price

Silver:$22.86  DOWN  25  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1792.60
 
silver:  $23.13
 
 
 
 

 

 
 

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

 

 

PLATINUM  $957.50 UP  $8.55

PALLADIUM: $1756.65 UP $33.95/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 238/246

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,785.300000000 USD
INTENT DATE: 11/26/2021 DELIVERY DATE: 11/30/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 1
435 H SCOTIA CAPITAL 2
661 C JP MORGAN 238
661 H JP MORGAN 243
732 C RBC CAP MARKETS 4
737 C ADVANTAGE 3
878 C PHILLIP CAPITAL 1
____________________________________________________________________________________________

TOTAL: 246 246
MONTH TO DATE: 2,588

Goldman Sachs stopped: 1

 

NUMBER OF NOTICES FILED TODAY FOR  NOV. CONTRACT: 246 NOTICE(S) FOR 24600 OZ  (0.7651 tonnes)  

 

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  2588 FOR 258800 OZ  (8.049 TONNES) 

 

SILVER//NOV CONTRACT

0 NOTICE(S) FILED TODAY FOR  NIL   OZ/

total number of notices filed so far this month 1609  :  for 8,045,000  oz

 

BITCOIN MORNING QUOTE   $56,980 UP $2695 

 

BITCOIN AFTERNOON QUOTE.:57,008 UP $2723

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD DOWN $3.40 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  992 ,85 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER DOWN 25 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: 

 

549.297  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 166.62  DOWN 0.23 OR 0.14%

XXXXXXXXXXXXX

SLV closing price NYSE 21.16 DOWN. 0.21 OR  0.98%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI ROSE BY A SMALL 439 CONTRACTS TO 143,914, AND CLOSER TO THE NEW RECORD OF 244,710, SET FEB 25/2020. DESPITE OUR $0.36 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAYOUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN) )(IT FELL BY $0.36 BUT WERE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGS AS WE HAD A STRONG GAIN OF 1593 CONTRACTS ON OUR TWO EXCHANGES.  WE HAD MINOR SILVER SPREADER LIQUIDATION.
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 NIL OZ   / v), SMALL SIZED COMEX OI GAIN
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS +54
 
 
 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
NOV
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
 
23,432 CONTACTS  for 21 days, total 23,432 contracts or 117.160million oz…average per day:  111.58 contracts or 5.578 million oz per day.

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

NOV:  117.160 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: DESPITE OUR 36 CENT LOSS SILVER PRICING AT THE COMEX// FRIDAYWE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 439
 
 
THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF 1208 CONTRACTS( 0 CONTRACTS ISSUED FOR NOV AND 1208 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 NIL OZ . WITH MINIMAL  SPREADER LIQUIDATION. NOBODY LEFT THE SILVER ARENA.WE HAD A STRONG SIZED GAIN OF 1593 OI CONTRACTS ON THE TWO EXCHANGES
 
 
 
 
 

WE HAD 0 NOTICES FILED TODAY FOR NIL OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 3289  CONTRACTS TO 557,303 ,,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: +1374   CONTRACTS.

THE FAIR SIZED INCREASE IN COMEX OI CAME WITH OUR GAIN IN PRICE OF $2.70//COMEX GOLD TRADING//FRIDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR STRONG SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD ZERO LONG LIQUIDATION  AS THE TOTAL GAIN ON OUR TWO EXCHANGES TOTALED A STRONG SIZED 11,045 CONTRACTS…..WITH MINIMAL SPREADER LIQUIDATION.  WE ALSO HAD A GOOD INITIAL STANDING IN GOLD TONNAGE FOR OCT AT 1.444 TONNES, FOLLOWED BY TODAY’S QUEUE JUMP  OF NIL OZ//NEW STANDING 259,600 OZ (8.0746 TONNES) 
 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF $2.70 WITH RESPECT TO FRIDAY’S TRADING

 

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

WE HAD  A VERY STRONG SIZED GAIN OF 11,045  OI CONTRACTS (34.35 TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCETHE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 7736CONTRACTS:

FOR DEC 7736  ALL OTHER MONTHS ZERO//TOTAL: 7736 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 557,303. 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 VERY STRONG  SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES  OF 11,045 CONTRACTS: 3289 CONTRACTS INCREASED AT THE COMEX AND 7756 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 11,045 CONTRACTS OR 34.35 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7756) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI (3289 OI): TOTAL GAIN IN THE TWO EXCHANGES: 11,045 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 NIL OZ  3)ZERO LONG LIQUIDATION AND MINIMAL SPREADER LIQUIDATION,4) FAIR SIZED COMEX OI GAIN 5). STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL 

SPREADING OPERATIONS(/NOW SWITCHING TO GOLD)

FOR NEWCOMERS, HERE ARE THE DETAILS:

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

WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

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

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

 

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

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

 
 
 
 

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

NOV

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV : 97,226, CONTRACTS OR 9,722,600 oz OR 302.41 TONNES (21 TRADING DAY(S) AND THUS AVERAGING: 4629 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21 TRADING DAY(S) IN  TONNES: 302.31 TONNES

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

THUS EFP TRANSFERS REPRESENTS  302.41/3550 x 100% TONNES  8.50% 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:           302.41 TONNES INITIAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, ROSE BY A SMALL SIZED 439 CONTRACTS TO 143,914AND  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 1208 CONTRACTS

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

DEC 1208  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  1208 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI GAIN OF 439 CONTRACTS AND ADD TO THE 1208 OI TRANSFERRED TO LONDON THROUGH EFP’S,WE OBTAIN A  VERY STRONG SIZED GAIN OF 1647 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES. (MINIMAL  SPREADER LIQUIDATION)

 

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 8.235 MILLION  OZ, OCCURRED WITH OUR  $0.36 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) MONDAY MORNING/SUNDAY  NIGHT: 

SHANGHAI CLOSED DOWN 1.39 PTS OR  0.04%     //Hang Sang CLOSED DOWN 223.28 PTS OR 0.95% /The Nikkei closed DOWN 467.70 PTS OR 1.63%     //Australia’s all ordinaires CLOSED DOWN 0.49%

/Chinese yuan (ONSHORE) closed UP  6.3839   /Oil DOWN TO 71.47 dollars per barrel for WTI and DOWN TO 76.00 for Brent. Stocks in Europe OPENED  ALL GREEN  /ONSHORE YUAN CLOSED  UP AT 6.3839 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3869/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 ROSE BY A FAIR SIZED 3289 CONTRACTS TO 557,303 MOVING CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS  COMEX INCREASE OCCURRED WITH OUR  SMALL GAIN OF $2.70 IN GOLD PRICING  FRIDAY’S COMEX TRADING.WE ALSO HAD A VERY STRONG EFP ISSUANCE (7756 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 7756 EFP CONTRACTS WERE ISSUED:  ;: ,  NOV  :  & DEC. 7756 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   7756 CONTRACTS 

 

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STORNG SIZED 11,045  TOTAL CONTRACTS IN THAT 7756 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A FAIR SIZED COMEX OI OF 3289 CONTRACTS..WE HAVE A GOOD AMOUNT OF GOLD TONNAGE STANDING FOR NOV   (8.0746),

 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- OCT): 480.912 TONNNES

 

THE BANKERS WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $2.70)

AND THEY WERE UNSUCCESSFUL IN FLEECING ANY NUMBER OF LONGS AS THE TOTAL LOSS ON THE TWO EXCHANGES REGISTERED A STRONG 34.35 TONNES,ACCOMPANYING OUR GOOD GOLD TONNAGE STANDING FOR NOV (8.0746 TONNES)…WE HAD MINOR SPREADER LIQUIDATION (WHICH IS OCCURING IN BOTH GOLD AND SILVER AS BOTH ARE ACTIIVE MONTHS).  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 +1374   CONTRACTS FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES :: 11,045 CONTRACTS OR 1,104,500 OZ OR  34.35 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:  557,303 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 55.73 MILLION OZ/32,150 OZ PER TONNE =  17.29 TONNES

THE COMEX OPEN INTEREST REPRESENTS 17.82/2200 OR 80,10% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 172,548 contracts//    ///volume weak//another raid///

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 381,871 contracts//strong/raid

 

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

 

NOV 29

 

/2021

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

 

Deposits to the Customer Inventory, in oz
 
 
 
 
40,106.76
 
oz
Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
246  notice(s)
24600 OZ
0.7651 TONNES
No of oz to be served (notices)
8 contracts
 
 800 oz
0.0249 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
2588 notices
 
258800 OZ
8.049 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  1 deposit into the customer account
i) Into Brinks: 40,106.76 oz
 
 
TOTAL CUSTOMER DEPOSITS 40,106.76 oz
 
 
 
We have 0  customer withdrawal
 
TOTAL CUSTOMER WITHDRAWALS nl oz
 
 
 
 
 

We had 0  kilobar transactions 0 out of  2 transactions)

ADJUSTMENTS  1 /dealer to customer Manfra

24,786.421 oz

 

 
 
For the front month of November we had an open interest of 254 contracts having LOST 3 contracts on the day.
 
We had  3 notices served on FRIDAY so we GAINED 0 contracts or an additional NIL oz will  stand for delivery for this very non active delivery month
 
 
 
 
 
 
 
 
 
.
DEC LOST 19,420 CONTRACTS  TO STAND AT 48,262/  WE HAVE 1 MORE READING DAYS BEFORE FDN.
I THINK WE ARE GOING TO HAVE A DANDY AMOUNT STANDING FOR DELIVERY OF APPROXIMATELY 80 TO 90 TONNES.
JANUARY GAINED 404 CONTRACTS TO STAND AT 1512
 

We had 246 notice(s) filed today for  24600  oz

FOR THE NOV 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 246  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and  238 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 1  notice(s) 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 (2588) x 100 oz , to which we add the difference between the open interest for the front month of  (NOV: 254 CONTRACTS ) minus the number of notices served upon today  246 x 100 oz per contract equals 259,600 OZ OR 8.0746 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 (2588) x 100 oz (254)  OI for the front month minus the number of notices served upon today (246} x 100 oz} which equals 259,600 ostanding OR 8.0746 TONNES in this  active delivery month of NOV.

We GAINED 0 contracts or an additional NL oz will stand for delivery. 

 

TOTAL COMEX GOLD STANDING:  8.0746 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 496.46 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 8.0746 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  17,879,192.551 oz or 556.11 tonnes
 
 
 
total weight of pledged:1,917,862.791oz                                     59.65 tonnes
 
 
 
 
 
registered gold that can be used to settle upon: 15,961,330.0 (496.46 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes 15,961,330.0 (496.46 tonnes)   
 
 
total eligible gold: 15,751,021.629 oz   (489.92 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,630,214,180 oz or 1,046.04
tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  919.70 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 29/2021

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
nil  oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
0
 
CONTRACT(S)
NIL  OZ)
 
No of oz to be served (notices)
0 contracts
 (NIL oz)
Total monthly oz silver served (contracts)  1609 contracts

 

8,045,000 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 0 deposits into customer account (ELIGIBLE ACCOUNT)

 

 

 
 

JPMorgan now has 179.43 million oz  silver inventory or 50.93% of all official comex silver. (179.43 million/352.819 million

total customer deposits today nil oz

we had 0 withdrawals

 

 

 

total withdrawal nil       oz

 

adjustments:   2   dealer to customer 
CNT:  72,817.900 oz
Loomis:  78,274.300 oz
 
 
 
 
 
 

Total dealer(registered) silver: 98,694 million oz

total registered and eligible silver:  352.819 million oz

a net  0.000 million oz leaves the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

For the front month of November we have an  amount of silver standing equal to 0 contracts a LOSS of 1 contract on the day. We had 1 notices filed on FRIDAY so we gained  0 contracts or an additional NIL oz will stand in this non active delivery month of November.
 

DEC LOST 6349   CONTRACTS DOWN TO 13,562 (we have ONE more reading days before FDN)

JANUARY GAINED 307 CONTRACTS TO STAND AT 1979

 
NO. OF NOTICES FILED:  0  FOR NIL   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  1609 x 5,000 oz =8,045,000 oz to which we add the difference between the open interest for the front month of NOV (0) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the NOV./2021 contract month: 1609 (notices served so far) x 5000 oz + OI for front month of NOV(0)  – number of notices served upon today (0) x 5000 oz of silver standing for the NOV contract month .equals 8,045,000 oz. .

We gained 0 contracts or an additional NIL oz will stand for silver in this non active delivery month of November.

 

TODAY’S ESTIMATED SILVER VOLUME  72,888 CONTRACTS // volume good  

 

FOR YESTERDAY 120,911 contracts  ,CONFIRMED VOLUME/ very strong/

 

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% (NOV25/2021)

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 25)/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 29/WITH GOLD DOWN $3.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVNETORY RESTS AT 992.85 TONNES/

NOV 26/WITH GOLD UP $2.70 TODAY/A HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.76 TONES INTO THE GLD////INVENTORY RESTS AT 992.85 TONNES

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

XXXXXXXXXXXXXXXXXXXXXXXXX

Inventory rests tonight at:

 

NOV 25 / GLD INVENTORY 992.85 tonnes

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

NOV 29/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 549.297 MILLION OZ//

NOV 26/WITH SILVER DOWN 36 CENTS TODAY; A HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.038 MILLION OZ INTO THE SLV.//INVENTORY RESTS AT 549.297 MILLION OZ///

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.

 
 

NOV 29/2021  SLV INVENTORY RESTS TONIGHT AT 547.261 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

Peter Schiff: It Was A Black-And-Blue Friday

 

 
MONDAY, NOV 29, 2021 – 11:05 AM

Via SchiffGold.com,

Last Friday was Black Friday and it was a black and blue Friday for investors. Just about everything was down and markets panicked over a new COVID variant. Peter Schiff talked about the market reaction in his podcast. Did the markets overreact? And what would happen if we did go into another global lockdown?

The Dow suffered its worse day since April 2020, the height of COVID lockdowns.

European stocks got hit hardest. “Stay at home” stocks including Netflix and Peloton the US helped mitigate some of the pain here.

I guess investors are thinking back to the last time we had a big COVID collapse and those are the stocks that worked, so they’re piling into them again. But I really don’t think Peloton or Docusign — these companies were having a lot of trouble. They were coming out with bad earnings. I don’t think all of a sudden everybody’s going to load up on Peloton bikes again the way they did the first time. I think pretty much most of the people who wanted to lock down with a Peloton bike probably bought the bike during the first go-round. … I think a lot of this trading is just computer-driven.”

Dollar weakness was one of the more interesting aspects of what happened Friday. We did not have a flight of safety into the greenback. The safe-haven money flowed into the Swiss franc, the Japanese yen, and to a lesser degree, the euro. The dollar dropped about 1.7% against the yen and 1.4% against the Swiss franc.

Clearly, the dollar is not a safe haven, or not the primary safe haven, given the fact that it was very weak against these other fiat currencies. Once upon a time, the world would have fled to the dollar. … The dollar was the preeminent, go-to, safe-haven currency. Clearly, the dollar has lost that status already to these other currencies. And that does not bode well for the dollar in the future.”

Peter said overall, he sees this as a big market overreaction. But if the worst-case scenario were to happen – a return to global lockdowns – the Fed would almost certainly cancel the taper and return to quantitative easing. In fact, it would probably have to ramp up QE even more.

After all, if the economy is going to implode once again, it’s going to need more stimulus. I don’t think the Fed simply saying, ‘We’re going to maintain the stimulus we have now,’ — that ain’t going to cut it. When you have a drug addiction, you build up a tolerance. And I don’t think the Fed can really stimulate the economy again by maintaining the level of stimulus that is already in place. The markets kind of get used to that and expect that stimulus, so I don’t think it really acts as a stimulus more than a crutch. And I think if we need another phony stimulus the Fed is going to have to up the dosage.”

The Fed has already said it won’t initiate its first rate hike until the taper is complete.

To the extent that the taper is delayed, or as I just said, reversed and we ramp up QE to an even bigger number so that by the time we eventually restart the taper, we’re not tapering from $120 billion but maybe from $150 billion or $200 billion, what that does is it dramatically pushes back the first rate hike that we get from the Fed.”

Peter said the dollar weakness may not just be a function of its diminishing role as a safe haven, but it may also be due to investors beginning to price out the taper or “liftoff” in interest rates. But Peter said the markets still don’t get it.

If we do go into another lockdown, and we have to increase the size of the stimulus, I think the impact on consumer prices is going to be far more immediate than it was before.”

Some people think another COVID lockdown would defuse the inflation bomb. Just look at the big drop in the price of oil. It could be a “get out of jail free” card for the Fed. Peter said that’s not going to happen.

When we went into lockdown the first time, CPI was low and there was still plenty of inventory to absorb the big drop in production. We’re not in that situation now. We don’t have the ample supply chain we had when COVID hit the first time.

Meanwhile, we’ve already got all this money that has just been printed. We didn’t have that going into the first round of lockdowns. So, if we lock down again, it’s not like prices are going to collapse. They’re going to keep going up. In fact, they’re going to go up even more.”

Of course, some prices would drop. But generally, Peter thinks they would continue to rise.

If we go back into full lockdown mode again, and we do more stimulus, more money printing, the impact on prices is going to be far greater and far more immediate the second time than it was the first time.”

Peter said this scenario is very bullish for gold.

If we ramped up QE instead of taper it, and if we basically push back liftoff in interest rates to some year well beyond 2022, I think the immediate and biggest beneficiary would be gold and then the gold mining stocks.”

end

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

 

end

ii) Important gold commentaries courtesy of GATA/Chris Powell

For your interest….a rare silver coin minted in colonial New Engalnd sells for $350,000

(Associated Press)

Rare silver coin minted in colonial New England sells for $350,000

 

 

 Section: Daily Dispatches

 

From The Associated Press
via Yahoo News, Sunnyvale, California
Friday, November 26, 2021

BOSTON — One of the first coins minted in colonial New England, which was recently found among other coins in a candy tin, has sold at auction for more than $350,000, more than it was expected to get, the auctioneer said today.

The 1-shilling silver coin made in Boston in 1652 — considered the finest example of just a few dozen such coins known to still exist — was sold to an anonymous online bidder from the United States, London-based Morton & Eden Ltd. said in a statement.

The auctioneer had expected it to sell for about $300,000.

“I am not surprised at the amount of interest this exceptional coin attracted,” coin specialist James Morton said in a statement. “The price paid, which was above estimate, reflects its extraordinary historic significance and outstanding original state of preservation.”

Before 1652, coins from England, the Netherlands, the Spanish Empire, and other nations were used as currency in New England.

But a shortage of coinage prompted the Massachusetts General Court to appoint John Hull as Boston mintmaster, responsible for producing North America’s first silver coins. The mint, considered treasonous by King Charles II, was shut down in 1682, according to the auctioneer. …

… For the remainder of the report:

https://www.yahoo.com/news/rare-coin-minted-colonial-england-204024002.htmlend*

END

Please help GATA>>>by reviewing the reports from the New Orleans conference.

(GATA)

You can still review the New Orleans conference while helping GATA

 

 

 Section: Daily Dispatches

 

3:08p ET Saturday, November 27, 2021

Dear Friend of GATA and Gold:

Last month’s New Orleans Investment Conference was a great one, and doubly so for GATA, since the presentation by fund manager Lawrence Lepard praised the organization and was especially well-received:

https://gata.org/node/21525

But there were many other great presentations, including those by former U.S. Rep. Ron Paul, author and fund manager Jim Rickards, and  financial analysts Grant Williams, Doug Casey, and Rick Rule.

If you missed the conference, or if you attended and would like a permanent record of what was said to the full audience and the many smaller “workshops” that were held — more than 40 hours of proceedings — the conference has recorded them for sale for $350 through a membership in its Investment Conference Club, and if you purchase the recordings via the link below, the conference will make a generous donation to GATA.

https://neworleansconference.com/store/investment-club/2021-new-orleans-investment-conference-club-membership/?affiliate=37

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

end

This is huge:  Ronan Manly notes that tiny city state Singapore added 26 tonnes to its reserves.They know hold close to 154 tonnes.

These guys are very smart cookies and they know what they are doing

(Bullionstar)

Bullion Star’s Ronan Manly: Singapore quietly adds 26 tonnes to its gold reserves

 

 

 Section: Daily Dispatches

 

By Ronan Manly
Bullion Star, Singapore
Saturday, November 27, 2021

It has just come to light that Singapore’s central bank, the Monetary Authority of Singapore, added 26.35 tonnes of gold to its official monetary gold reserves over a 2-month period between May and June this year, in the process boosting its strategic gold holdings by 20% to a claimed 153.76 tonnes.

This addition to the monetary gold holdings of the Monetary Authority of Singapore was first pointed out by the World Gold Council’s Krishan Gopaul in a tweet November 25, following an update to Singapore’s gold holdings appearing in the International Monetary Fund’s International Financial Statistics (IFS) database, a source the World Gold Council uses to keep track of central bank and sovereign gold holdings. …

… For the remainder of the report:

https://www.bullionstar.com/blogs/ronan-manly/in-low-key-move-singapores-central-bank-adds-26-tonnes-to-its-gold-reserves/

end

China continues to add gold to its hoard as they use Hong Kong as a conduit

(Reuters_

China’s October net gold imports via Hong Kong hit 3-year high

 

 

 Section: Daily Dispatches

 

By Bharat Gautam
Reuters
via Nasdaq.com, New York
Thursday, November 25, 2021

China’s net gold imports via Hong Kong jumped 56% in October from the previous month to the highest since June 2018, as buyers in the top consumer stocked up on the metal as a cushion against rising inflation.

Net imports stood at 54.26 tonnes in October compared with 34.79 tonnes in September, Hong Kong Census and Statistics Department data showed Thursday.

.

Total gold imports via Hong Kong rose to 57.80 tonnes from 41.88 tonnes.

“The healthy figures reflect what we’re seeing in the spot market, which is to say loco Shanghai gold has been trading at a significant premium over loco London spot,” independent analyst Ross Norman said. …

… For the remainder of the report:

https://www.nasdaq.com/articles/chinas-october-net-gold-imports-via-hong-kong-hit-3-year-high

end

 

OTHER IMPORTANT GOLD///ECONOMIC COMMENTARIES

 

end

OTHER COMMODITIES/PLATINUM

China’s Mystery Platinum Imports ‘Help Absorb’ Record Surplus

Gold Bug – Sunday, 11/28/2021 17:16

Hydrogen fuel-cell demand yet to hit supply & demand data…

IMPORTS of platinum to China are helping offset the impact on prices of a record surplus of supply over demand in 2021 according to new data and analysis.

Platinum mining supply will outstrip global end-use demand, net of recycling flows, by more than 14% in 2021 says the latest estimate published by the World Platinum Investment Council.

That excess – a record 24 tonnes against mine output of 191 – marks the largest percentage surplus since 1980’s all-time 19.5% excess of mining supply versus net demand for the industrially and technologically useful precious metal.

Platinum imports into China have however “run well ahead” of the world No.2 economy’s domestic demand for platinum, the Council’s latest report goes on, “potentially absorbing much of the excess metal supply and resulting in reduced metal availability in the market.”

Platinum's global market balance (surplus or 
deficit) of mine supply over net demand 1975 to 2022. 
Source: BullionVault via various

Platinum mining supply has leapt in the second-half of 2021 so far, outpacing the July-to-September period of last year by 7% as Covid restrictions eased and producers took advantage of higher prices according to last week’s new data, produced for the World Platinum Investment Council by precious-metal specialists Metals Focus.

Demand in contrast – where platinum’s industrial uses are still led by autocatalysts, fitted to reduce harmful emissions primarily from diesel engines – slumped by 44% compared to the third quarter of 2020, thanks to the global microchip shortage denting new vehicle production and sales, plus heavy outflows from ETF investment funds and trading-exchange inventories.

Last year saw platinum investing hit an all-time record, overtaking autocat use for the first time in at least half-a-century after prices slumped to 12-year lows amid the Covid Crash hitting industrial commodities as the pandemic went global in February and March.

All told, this year’s demand-side problems will put the 2021 platinum market into a “significantly larger than expected surplus” said Paul Wilson, CEO of the World Platinum Investment Council, launching the new data last Wednesday.

For 2021 as a whole, the Council’s latest data predicts that platinum mining supply will rise 25.0% from last year’s 21-year low, with secondary supply from scrapped cars and industrial recycling set to rise 3.2% year-on-year. Total demand is meantime forecast to drop by 4.9%.

Another “significant” surplus is then due in 2022, says the World Platinum Investment Council’s latest report, but it will possibly be reduced by a recovery in autocatalyst demand – platinum’s single largest application – plus growing use of the precious metal in hydrogen fuel cells.

This technology, with the potential to produce energy with zero-carbon emissions, uses platinum as a catalyst to generate electricity when hydrogen from a fuel tank is mixed with oxygen from the air, creating only pure water as waste.

November’s COP26 climate summit in Glasgow saw 28 major businesses, including mining and fossil-fuel giants such as Anglo, BP and Shell, commit to ” accelerating the use and production of hydrogen as an essential part of the future net-zero energy system.”

Hydrogen production and fuel-cell targets are also clearly set out in the end-of-coal 2030 plan announced last week by Germany’s new “traffic light” coalition government, finally agreed between the Social Democratic Party (SPD) of new Chancellor Olaf Scholz and the Free Democratic Party (FDP) and The Greens.

While aviation, rail and factory-plant electrification offer scope for hydrogen fuel cells where battery-electric technologies can’t reach, “fuel cells [are] finally getting political backing for vehicles, especially heavy duty,” says precious metals analyst Rhona O’Connell at brokerage StoneX, making “the outlook [for platinum] very promising.”

As it is however, hydrogen fuel-cell demand doesn’t yet warrant its own line on the platinum demand tables published either by the World Platinum Investment Council or by refining and technology specialists Johnson Matthey (LON: JMAT).

“Platinum is still seeing what looks like offloading from the auto sector in both the US and Germany,” explains O’Connell at StoneX, “plus the dreadful downdraughts of the semiconductor chip dislocations” hitting automotive production and therefore catalyst demand.

“Hong Kong and China are taking metal in, but for now they are the only bright spots.”

China VI laws for heavy-duty vehicle emissions came into force this July, says a separate note from analysts SFA (Oxford), writing for German refining group Heraeus.

But while these rules “predominantly” benefit platinum loadings on each new diesel-engine’s autocatalyst systems, “sales of HDVs in China have slumped since the change came in,” because customers had already rushed to buy ahead of the change making new trucks more expensive.

Heavy-duty vehicle sales in 
China, monthly 2019 to end-2021. Source: SFA (Oxford) for 
Heraeus

2022 will see China’s HDV sales fall 16% year-on-year, SFA forecasts, “normalising at 2019 levels” but still equating to lower platinum demand from the sector overall, despite the higher loadings due to China VI . /p>

“A slowing Chinese economy is a further risk for HDV sales,” the consultancy concludes, pointing to Beijing’s clampdown on real-estate speculation.

Comparing China’s solid 2021 platinum imports with sharply lower imports of sister-metal palladium – which finds well over 4/5ths of its end-use demand from autocats to cut carbon emissions from gasoline engines – “it could be that China had previously built domestic stocks of palladium which are now being drawn upon,” says the World Platinum Investment Council, “or it could be that there is greater substitution ongoing within the automotive sector,” whereby the cheaper metal replaces palladium to cut production costs.

“Beyond China,” the Council goes on, “it is also possible that the scale of platinum substitution for palladium is being underestimated… [Together] with high China imports [this] could be keeping market availability of platinum low.”

Platinum prices have, on BullionVault’s analysis, shown a greater tendency to rise when the market tightened than to fall when supply deficits shrank or a surplus of excess metal expanded over the last 45 years.

Year-on-year in the platinum market, mining supply grew relative to net end-use demand 22 times since 1976, with platinum prices falling in 55% of those years. Across the 23 years of growing deficits or shrinking surpluses, the platinum price rose 70% of the time.

 

 

END

 

 
CRYPTOCURRENCIES/

The Bitcoin Bond: El Salvador Makes History

 
MONDAY, NOV 29, 2021 – 03:00 PM

Authored by Sam Klemens via exodus.com,

El Salvador is planning to issue the world’s first Bitcoin bond and it’s a really big deal! This article will explain how the bond works, what El Salvador plans to do with the money and why other countries might start issuing their own Bitcoin bonds. Let’s dive in!

The Bitcoin Bond

El Salvador’s Bitcoin bond* will be worth $1 billion and it’s going to get split into two parts. Half the bond will be used to begin construction on a “Bitcoin city.” The second half of the bond will be used to buy $500 million worth of Bitcoin.

*bond is a way for a country or corporation to take out debt. Investors give money to an entity which then makes interest payments on a predetermined basis. At the end of the bond’s duration the bond must be repaid in full.  

Once El Salvador purchases the $500 million worth of Bitcoin, most likely sometime in early 2022, the coins will get locked up for five years. That Bitcoin will provide the collateral for the bond, ensuring that all of the investors get paid off.

Anyone who lends money to El Salvador is betting that five years from now Bitcoin will be worth at least twice as much as it is today. So long as that’s the case, even if El Salvador is completely broke they’ll still be able to sell the Bitcoin and repay the debt.

For El Salvador the Bitcoin bond is a great deal. After five years they’ll start selling the coins to offer bondholders a special dividend (determined by the price of Bitcoin). However, El Salvador presumably won’t have to give all of the returns to the investors. If Bitcoin is way higher in the future, El Salvador will also benefit from the price appreciation. Any Bitcoin left over after the bondholders have been paid off will go to the government’s treasury.

One question we might ask is: why would anyone invest in the El Salvador Bitcoin bond rather than just buying Bitcoin? One plausible explanation is that the Bitcoin bond can give investors a steady yield (the bonds are set to pay 6.5%) without exposing them to Bitcoin’s volatility.

One of Bitcoin’s main problems is it’s volatility. From the tip of a blow-off top, to the bottom of a bear market, Bitcoin often drops 80% or more. That’s fine for the hodl gang, and certainly a great buying opportunity, but for large institutions, it’s just too much volatility.

The Bitcoin bond is a way to bet on Bitcoin without getting exposed to all that volatility. The 6.5% return on the Bitcoin bond is well above the average market rate. While some have said that the bond is risky, so long as Bitcoin has doubled in price by 2027 there is not a significant amount of risk associated with this product.

To summarize, the Bitcoin bond is a good deal for everyone involved because:

  • Bondholders can get an above-average return given the perceived risk

  • As long as BTC doubles by 2027, it’s unlikely that bond holders will lose any money

  • If BTC more than doubles by 2027, El Salvador can also keep the additional Bitcoin after paying off the bond

Why the Bitcoin Bond is a Big Deal

When El Salvador first made Bitcoin legal tender, a couple of other countries in South and Central America announced that they might do the same. A few of the key advantages of Bitcoin as legal tender are:

  • Significantly cheaper cross border payments and remittances. For countries like El Salvador or the Philippines, which rely heavily on foreign workers sending wages home, the difference between paying 2% or 15% on international payments is huge. Paying less in fees benefits the citizens of the country. It also benefits the government since more money flows into the country
  • Bitcoin gives people the opportunity to save their money in an asset that can’t be inflated away. This is especially beneficial for anyone living in a country with a long history of monetary debasement, like Argentina

Although these are two very real advantages of making Bitcoin legal tender, in themselves they’re not huge reasons for most countries to go all in on BTC. However… being able to use Bitcoin to get a billion-dollar loan, that’s the type of incentive that could drive countries to adopt the world’s most popular digital currency.

While it’s almost nothing to the United States, $1 billion is still a lot of money to smaller countries. And who’s to say the next Bitcoin bond has to be $1 billion? The next bond could be $3 billion or $5 billion, there’s not really an upper limit so long as investors are willing to fund it.

Other countries are likely to look into how they too can get money without having to deal with the rapacious bankers at the IMF. A Bitcoin bond is a great way to secure funding outside the bounds of the traditional financial system.

El Salvador & the Bitcoin City

El Salvador plans to use the second half of the bond to begin construction on a brand new Bitcoin city. The city will be located in the La Union region of the country. The new Bitcoin city will have a wide range of amenities, from bars and restaurants to movie theaters and even an airport. The main focus, however, will be on finance.

According to president Bukele, “In Bitcoin City we will have digital and technological education. Geothermal energy for the entire city and efficient and sustainable public transport.”

Bitcoin City will be located next to a volcano which should serve two purposes.

  1. The geothermal energy will be used to power the city, and president Bukele’s vision is for Bitcoin city to be powered 100% by renewables.

  2. The geothermal energy will also be used to set up sustainably powered Bitcoin mining facilities.

Hence why Samson Mao, the chief strategy officer at Blockstream, has referred to this new deal as a volcano bond. Adam Back also does a good job of summarizing the situation. 

Assuming that El Salvador’s Bitcoin mining operation is profitable, it could provide further assurance that the country will make all of its coupon payments and repay the bond when it matures.  

Creating a city from scratch is a bold initiative and it would almost certainly not be possible without outside financing. Although the Bitcoin bond is set to be a great development for El Salvador, from a larger perspective the most exciting aspect of the bond is that it proves there’s a way for countries to get funding without having to grovel to the IMF or the World Bank.

It’s likely that in 2022 or 2023, another country is going to announce their own Bitcoin bond, and then another. Then the floodgates could really open, especially if El Salvador’s bond is successful. All of this is pretty bullish for the crypto community, and it shows how Bitcoin can work as the backbone for a new financial system.

END

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

i) Chinese yuan vs usa dollar/CLOSED UP 6.3839  

 

//OFFSHORE YUAN 6.3869  /shanghai bourse CLOSED DOWN 1.39 PTS OR  0.04% 

 

HANG SANG CLOSED DOWN 223.28 PTS OR 0.95% 

 

2. Nikkei closed DOWN 467.70 PTS OR 1.63% 

 

3. Europe stocks  ALL GREEN

 

USA dollar INDEX UP TO  96.32/Euro FALLS TO 1.1284-

3b Japan 10 YR bond yield: FALLS TO. +.074/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 113.62/ 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:: 71.47 and Brent: 76.00-

3f Gold UP/JAPANESE Yen DOWN 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 DOWN for WTI and DOWN FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.0.304%/Italian 10 Yr bond yield RISES to 0.99% /SPAIN 10 YR BOND YIELD RISES TO 0.49%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.30: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 1.29

3k Gold at $1783.20 silver at: 23.26   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 63/100 in roubles/dollar) 74.92

3m oil into the 71 dollar handle for WTI and  76 handle for Brent/

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

JAPAN ON JAN 29.2016 INITIATES NIRP. THIS MORNING THEY SIGNAL THEY MAY END NIRP. TODAY THE USA/YEN TRADES TO 113.44 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 .9248 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0435 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 0.304%

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 1.554% early this morning. Thirty year rate at 1.888%

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

6.  TURKISH LIRA:  UP  TO 12.63..  EXTREMELY DEADLY

BTFDers Unleashed: Futures, Yields, Oil Jump As Omicron Panic Eases

BY TYLER DURDEN
MONDAY, NOV 29, 2021 – 08:01 AM

As expected over the weekend, and as we first noted shortly after electronic markets reopened for trading on Sunday, S&P futures have maintained their overnight gains and have rebounded 0.7% while Nasdaq contracts jumped as much as 1.3% after risk sentiment stabilized following Friday’s carnage and as investors settled in for a few weeks of uncertainty on whether the Omicron variant would derail economic recoveries and the tightening plans of some central banks. Japan led declines in the Asian equity session (which was catching down to Friday’s US losses) after the government shut borders to visitors. The region’s reopening stocks such as restaurants, department stores, train operators and travel shares also suffered some losses.  Oil prices bounced $3 a barrel to recoup some of Friday’s rout, while the safe haven yen, Swiss franc and 10Y Treasury took a breather after its run higher.

Moderna shares jumped as much as 12% in pre-market trading after Chief Medical Officer Paul Burton said he suspects the new omicron coronavirus variant may elude current vaccines, and if so, a reformulated shot could be available early in the new year. Which he would obviously say as his company makes money from making vaccines, even if they are not very efficient. Here are some of the other notable premarket movers today:

  • BioNTech (BNTX US) advanced 5% after it said it’s starting with the first steps of developing a new adapted vaccine, according to statement sent by text.
  • Merck & Co. (MRK US) declined 1.6% after it was downgraded to neutral from buy at Citi, which also opens a negative catalyst watch, with “high probability” the drugmaker will abandon development of its HIV treatment.
  • A selection of small biotechs rise again in U.S. premarket trading amid discussion of the companies in StockTwits and after these names outperformed during Friday’s market rout. Palatin Tech (PTN US) +37%, Biofrontera (BFRI US) +22%, 180 Life Sciences (ATNF US) +19%.

Bonds gave back some of their gains, with Treasury futures were down 11 ticks. Like other safe havens, the market had rallied sharply as investors priced in the risk of a slower start to rate hikes from the U.S. Federal Reserve, and less tightening by some other central banks.

Needless to say, Omicron is all anyone can talk about: on one hand, authorities have already orchestrated a lot of global panic: Britain called an urgent meeting of G7 health ministers on Monday to discuss developments on the virus, even though the South African doctor who discovered the strain and treated cases said symptoms of Omicron were so far mild. The new variant of concern was found as far afield as Canada and Australia as more countries such as Japan imposed travel restriction to try to seal themselves off.

Summarizing the fearmongering dynamic observed, overnight South African health experts – including those who discovered the Omicron variant, said it appears to cause mild symptoms, while the Chinese lapdog organization, WHO, said the variant’s risk is “extremely high”.

Investors are trying to work out if the omicron flareup will a relatively brief scare that markets rebound from, or a bigger blow to the global economic recovery. Much remains unanswered about the new strain: South African scientists suggested it’s presenting with mild symptoms so far, though it appears to be more transmissible, but the World Health Organization warned it could fuel future surges of Covid-19 with severe consequences.

“There is a lot we don’t know about Omicron, but markets have been forced to reassess the global growth outlook until we know more,” said Rodrigo Catril, a market strategist at NAB. “Pfizer expects to know within two weeks if Omicron is resistant to its current vaccine, others suggest it may take several weeks. Until then markets are likely to remain jittery.”

“Despite the irresistible pull of buying-the-dip on tenuous early information on omicron, we are just one negative omicron headline away from going back to where we started,” Jeffrey Halley, a senior market analyst at Oanda, wrote in a note. “Expect plenty of headline-driven whipsaw price action this week.”

The emergence of the omicron strain is also complicating monetary policy. Traders have already pushed back the expected timing of a first 25-basis-point rate hike by the Federal Reserve to July from June. Fed Bank of Atlanta President Raphael Bostic played down economic risks from a new variant, saying he’s open to a quicker paring of asset purchases to curb inflation. Fed Chair Jerome Powell and Treasury Secretary Janet Yellen speak before Congress on Tuesday and Wednesday.

“We know that central banks can quickly switch to dovish if they need to,” Mahjabeen Zaman, Citigroup senior investment specialist, said on Bloomberg Television. “The liquidity playbook that we have in play right now will continue to support the market.”

European stocks rallied their worst drop in more than a year on Friday, with travel and energy stocks leading the advance. The Stoxx 600 rose 0.9% while FTSE 100 futures gain more than 1%, aided by a report that Reliance may bid for BT Group which jumped as much as 9.5% following a report that India’s Reliance Industries may offer to buy U.K. phone company, though it pared the gain after Reliance denied it’s considering a bid.

European Central Bank President Christine Lagarde put a brave face on the latest virus scare, saying the euro zone was better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant

Japanese shares lead Asian indexes lower after Premier Kishida announces entry ban of all new foreign visitors. Hong Kong’s benchmark Hang Seng Index closed down 0.9% at the lowest level since October 2020, led by Galaxy Entertainment and Meituan. The index followed regional peers lower amid worries about the new Covid variant Omicron. Amid the big movers, Galaxy Entertainment was down 5.4% after police arrested Macau’s junket king, while Meituan falls 7.1% after reporting earnings.

In FX, currency markets are stabilizing as the week kicks off yet investors are betting on the possibility of further volatility. The South African rand climbed against the greenback though most emerging-market peers declined along with developing-nation stocks. Turkey’s lira slumped more than 2% after a report at the weekend that President Recep Tayyip Erdogan ordered a probe into foreign currency trades.

The Swiss franc, euro and yen retreat while loonie and Aussie top G-10 leaderboard after WTI crude futures rally more than 4%. The Bloomberg Dollar Spot Index hovered after Friday’s drop, and the greenback traded mixed against its Group-of-10 peers; commodity currencies led gains. The euro slipped back below $1.13 and Bunds sold off, yet outperformed Treasuries. The pound was steady against the dollar and rallied against the euro. Australian sovereign bonds pared an opening jump as Treasuries trimmed Friday’s spike amid continuing uncertainty over the fallout from the omicron variant. The Aussie rallied with oil and iron ore. The yen erased an earlier decline as a government announcement on planned border closures starting Tuesday spurred a drop in local equities. The rand strengthens as South African health experts call omicron variant “mild.”

In rates, Treasuries were cheaper by 4bp-7bp across the curve in belly-led losses, reversing a portion of Friday’s sharp safe-haven rally as potential economic impact of omicron coronavirus strain continues to be assessed. The Treasury curve bear- steepened and the benchmark 10-year Treasury yield jumped as much as 7 basis points to 1.54%; that unwound some of Friday’s 16 basis-point plunge — the steepest since March 2020.  Focal points include month-end on Tuesday, November jobs report Friday, and Fed Chair Powell is scheduled to speak Monday afternoon. Treasuries broadly steady since yields gapped higher when Asia session began, leaving 10-year around 1.54%, cheaper by almost 7bp on the day; front-end outperformance steepens 2s10s by ~3bp. Long-end may draw support from potential for month-end buying; Bloomberg Treasury index rebalancing was projected to extend duration by 0.11yr as of Nov. 22

In commodities, oil prices bounced after suffering their largest one-day drop since April 2020 on Friday.

“The move all but guarantees the OPEC+ alliance will suspend its scheduled increase for January at its meeting on 2 December,” wrote analyst at ANZ in a note. “Such headwinds are the reason it’s been only gradually raising output in recent months, despite demand rebounding strongly.”

Brent rebounded 3.9% to $75.57 a barrel, while U.S. crude rose 4.5% to $71.24. Gold has so far found little in the way of safe haven demand, leaving it stuck at $1,791 an ounce . SGX iron ore rises almost 8% to recoup Friday’s losses. Bitcoin rallied after falling below $54,000 on Friday.

Looking at today’s calendar, we get October pending home sales, and November Dallas Fed manufacturing activity. We also get a bunch of Fed speakers including Williams, Powell making remarks at the New York Fed innovation event, Fed’s Hassan moderating a panel and Fed’s Bowman discussing central bank and indigenous economies.

Market Snapshot

  • S&P 500 futures up 0.6% to 4,625.00
  • MXAP down 0.9% to 191.79
  • MXAPJ down 0.4% to 625.06
  • Nikkei down 1.6% to 28,283.92
  • Topix down 1.8% to 1,948.48
  • Hang Seng Index down 0.9% to 23,852.24
  • Shanghai Composite little changed at 3,562.70
  • Sensex up 0.4% to 57,307.46
  • Australia S&P/ASX 200 down 0.5% to 7,239.82
  • Kospi down 0.9% to 2,909.32
  • STOXX Europe 600 up 0.7% to 467.47
  • German 10Y yield little changed at -0.31%
  • Euro down 0.3% to $1.1283
  • Brent Futures up 3.8% to $75.49/bbl
  • Gold spot up 0.3% to $1,797.11
  • U.S. Dollar Index up 0.13% to 96.22

Top Overnight News from Bloomberg

  • The omicron variant of Covid-19, first identified in South Africa, has been detected in locations from Australia to the U.K. and Canada, showing the difficulties of curtailing new strains
  • While health experts in South Africa, where omicron was first detected, said it appeared to cause only mild symptoms, the Geneva-based WHO assessed the variant’s risk as “extremely high” and called on member states to test widely. Understanding the new strain will take several days or weeks, the agency said
  • All travelers arriving in the U.K. starting at 4 a.m. on Nov. 30 must take a PCR coronavirus test on or before the second day of their stay and isolate until they receive a negative result. Face coverings will again be mandatory in shops and other indoor settings and on public transport. Booster shots may also be approved for more age groups within days, according to Health Secretary Sajid Javid
  • The economic effects of the successive waves of the Covid pandemic have been less and less damaging, Bank of France Governor Francois Villeroy de Galhau says
  • Italian bonds advance for a third day, as investors shrug off new coronavirus developments over the weekend and stock futures advance, while bunds are little changed ahead of German inflation numbers and a raft of ECB speakers including President Christine Lagarde
  • A European Commission sentiment index fell to 117.5 in November from 118.6 the previous month, data released Monday showed
  • Spanish inflation accelerated to the fastest in nearly three decades in November on rising food prices, underscoring the lingering consequences of supply-chain bottlenecks across Europe. Consumer prices jumped 5.6%
  • Energy prices in Europe surged on Monday after weather forecasts showed colder temperatures for the next two weeks that will lift demand for heating
  • ECB Executive Board member Isabel Schnabel took to the airwaves to reassure her fellow Germans that inflation will slow again, hours before data set to show the fastest pace of price increases since the early 1990s
  • Russia’s ambassador to Washington said more than 50 diplomats and their family members will have to leave the U.S. by mid-2022, in the latest sign of tensions between the former Cold War enemies
  • China sent the biggest sortie of warplanes toward Taiwan in more than seven weeks after a U.S. lawmaker defied a Chinese demand that she abandon a trip to the island

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks traded cautiously and US equity futures rebounded from Friday’s hefty selling (S&P 500 -2.3%) as all focus remained on the Omicron variant after several countries announced restrictions and their first cases of the new variant, although markets took solace from reports that all cases so far from South Africa have been mild. Furthermore, NIH Director Collins was optimistic that current vaccines are likely to protect against the Omicron variant but also noted it was too early to know the answers, while Goldman Sachs doesn’t think the new variant is a sufficient reason to adjust its portfolio citing comments from South Africa’s NICD that the mutation is unlikely to be more malicious and existing vaccines will most likely remain effective at preventing hospitalizations and deaths. ASX 200 (-0.5%) is subdued after Australia registered its first cases of the Omicron variant which involved two people that arrived in Sydney from southern Africa and with the government reviewing its border reopening plans. Nikkei 225 (-1.6%) whipsawed whereby it initially slumped at the open due to the virus fears and currency-related headwinds but then recouped its losses and briefly returned flat as the mood gradually improved, before succumbing to a bout of late selling, and with mixed Retail Sales data adding to the indecision. Hang Seng (-1.0%) and Shanghai Comp. (Unch) weakened with Meituan the worst performer in Hong Kong after posting a quarterly loss and with casino names pressured by a crackdown in which police detained Suncity Group CEO and others after admitting to accusations including illegal cross border gambling. However, the losses in the mainland were cushioned after firm Industrial Profits data over the weekend and with local press noting expectations for China to adopt a more proactive macro policy next year. Finally, 10yr JGBs shrugged off the pullback seen in T-note and Bund futures, with price action kept afloat amid the cautious mood in stocks and the BoJ’s presence in the market for over JPY 900bln of JGBs mostly concentrated in 3yr-10yr maturities.

Top Asian News

  • Hong Kong Stocks Slide to 13-Month Low on Fresh Virus Woes
  • Li Auto Loss Narrows as EV Maker Rides Out Supply-Chain Snarls
  • Singapore Adds to Its Gold Pile for the First Time in Decades
  • China Growth Stocks Look Like Havens as Markets Confront Omicron

Bourses in Europe are experiencing a mild broad-based rebound (Euro Stoxx 50 +1.0%; Stoxx 600 +0.9%) following Friday’s hefty COVID-induced losses. Desks over the weekend have been framing Friday’s losses as somewhat overstretched in holiday-thinned liquidity, given how little is known about the Omicron variant itself. The strain will likely remain the market theme as scientists and policymakers factor in this new variant, whilst data from this point forth – including Friday’s US labour market report – will likely be passed off as somewhat stale, and headline risk will likely be abundant. Thus far, symptoms from Omicron are seemingly milder than some of its predecessors, although governments and central banks will likely continue to express caution in this period of uncertainty. Back to price action, the momentum of the rebound has lost steam; US equity futures have also been drifting lower since the European cash open – with the RTY (+0.9%) was the laggard in early European trade vs the ES (+0.8%), NQ (+1.0%) and YM (+0.7%). European cash bourses have also been waning off best levels but remain in positive territory. Sectors are mostly in the green, but the breadth of the market has narrowed since the cash open. Travel & Leisure retains the top spot in what seems to be more a reversal of Friday’s exaggerated underperformance as opposed to a fundamentally driven rebound – with more nations announcing travel restrictions to stem the spread of the variant. Oil & Gas has also trimmed some of Friday’s losses as oil prices see a modest rebound relative to Friday’s slump. On the other end of the spectrum, Healthcare sees mild losses as COVID-related names take a mild breather, although Moderna (+9.1% pre-market) gains ahead of the US open after its Chief Medical Officer suggested a new vaccine for the variant could be ready early next year. Meanwhile, Autos & Parts reside as the current laggard amid several bearish updates, including a Y/Y drop in German car exports – due to the chip shortage and supply bottlenecks – factors which the Daimler Truck CEO suggested will lead to billions of Euros in losses. Furthermore, auto supbt.aplier provider Faurecia (-5.9%) trades at the foot of the Stoxx 600 after slashing guidance – again a function of the chip shortage. In terms of Monday M&A, BT (+4.7%) shares opened higher by almost 10% following source reports in Indian press suggesting Reliance Industries is gearing up for a takeover approach of BT – reports that were subsequently rebuffed.

Top European News

  • U.K. Mortgage Approvals Fall to 67,199 in Oct. Vs. Est. 70,000
  • Johnson Matthey Rises on Report of Battery Talks With Tata
  • Gazprom Reports Record Third-Quarter Profit Amid Gas Surge
  • Omicron’s Spread Fuels Search for Answers as WHO Sounds Warning

In FX, the Buck has bounced from Friday’s pullback lows on a mixture of short covering, consolidation and a somewhat more hopeful prognosis of SA’s new coronavirus strand compared to very early perceptions prompted by reports that the latest mutation would be even worse than the Delta variant. In DXY terms, a base above 96.000 is forming within a 93.366-144 band amidst a rebound in US Treasury yields and re-steepening along the curve following comments from Fed’s Bostic indicating a willingness to back faster QE tapering. Ahead, pending home sales and Dallas Fed business manufacturing along with more Fed rhetoric from Williams and chair Powell on the eve of month end.

  • AUD/CAD/NZD – No surprise to see the high beta and risk sensitive currencies take advantage of the somewhat calmer conditions plus a recovery in crude and other commodities that were decimated by the prospect of depressed demand due to the aforementioned Omicron outbreak. The Aussie is back over 0.7150 vs its US counterpart, the Loonie has pared back losses from sub-1.2750 with assistance from WTI’s recovery to top Usd 72/brl vs a Usd 67.40 trough on November 26 and the Kiwi is hovering above 0.6800 even though RBNZ chief economist Ha has warned that a pause in OCR tightening could occur if the fresh COVID-19 wave proves to be a ‘game-changer’.
  • JPY/EUR – The major laggards as sentiment stabilses, with the Yen midway between 112.99-113.88 parameters and hardly helped by mixed Japanese retail sales data, while the Euro has retreated below 1.1300 where 1.7 bn option expiry interest resides and a key Fib level just under the round number irrespective of strong German state inflation reports and encouraging pan Eurozone sentiment indicators, as more nations batten down the hatches to stem the spread of SA’s virus that has shown up in parts of the bloc.
  • GBP/CHF – Both narrowly divergent vs the Dollar, as Cable retains 1.3300+ status against the backdrop of retreating Gilt and Short Sterling futures even though UK consumer credit, mortgage lending and approvals are rather conflicting, while the Franc pivots 0.9250 and meanders from 1.0426 to 1.0453 against the Euro after the latest weekly update on Swiss bank sight deposits showing no sign of official intervention. However, Usd/Chf may veer towards 1.1 bn option expiries at the 0.9275 strike if risk appetite continues to improve ahead of KoF on Tuesday and monthly reserves data.
  • SCANDI/EM – Although Brent has bounced to the benefit of the Nok, Sek outperformance has ensued in wake of an upgrade to final Swedish Q3 GDP, while the Cnh and Cny are deriving support via a rise in Chinese industrial profits on a y/y basis and the Zar is breathing a sigh of relief on the aforementioned ‘better’ virus updates/assessments from SA on balance. Conversely, the Try is back under pressure post-a deterioration in Turkish economic sentiment vs smaller trade deficit as investors look forward to CPI at the end of the week. Meanwhile, Turkish President Erdogan provides no reprieve for the Lira as he once again defending his unorthodox view that higher interest rates lead to higher inflation.

In commodities, WTI and Brent front-month futures consolidate following an overnight rebound – with WTI Jan back on a USD 71/bbl handle and Brent Feb just under USD 75/bbl – albeit still some way off from Friday’s best levels which saw the former’s high above USD 78/bbl and the latter’s best north of USD 81/bbl. The week is packed with risks to the oil complex, including the resumption of Iranian nuclear talks (slated at 13:00GMT/08:00EST today) and the OPEC+ monthly confab. In terms of the former, little is expected in terms of progress unless the US agrees to adhere to Tehran’s demand – which at this point seems unlikely. Tehran continues to seek the removal of US sanctions alongside assurances that the US will not withdraw from the deal. “The assertion that the US must ‘change its approach if it wants progress’ sets a challenging tone”, Citi’s analysts said, and the bank also expects parties to demand full access to Iranian nuclear facilities for verification of compliance. Further, the IAEA Chief met with Iranian officials last week; although concrete progress was sparse, the overall tone of the meeting was one of progress. “We remain of the opinion that additional Iranian supplies are unlikely to reach the market before the second half of 2022 at the earliest,” Citi said. Meanwhile, reports suggested the US and allies have been debating a “Plan B” if talks were to collapse. NBC News – citing European diplomats, former US officials and experts – suggested that options included: 1) a skinny nuclear deal, 2) ramp up sanctions, 3) Launching operations to sabotage Iranian nuclear advances, 4) Military strikes, 5) persuading China to halt Iranian oil imports, albeit Iran and China recently signed a 25yr deal. Over to OPEC+, a rescheduling (in light of the Omicron variant) sees the OPEC and JTC meeting now on the 1st December, followed by the JMMC and OPEC+ on the 2nd. Sources on Friday suggested that members are leaning towards a pause in the planned monthly output, although Russian Deputy PM Novak hit the wires today and suggested there is no need for urgent measures in the oil market. Markets will likely be tested, and expectations massaged with several sources heading into the meeting later this week. Elsewhere, spot gold trades sideways just under the USD 1,800/oz and above a cluster of DMAs, including the 50 (1,790.60/oz), 200 (1,791.30/oz) and 100 (1,792.80/oz) awaiting the next catalyst. Over to base metals, LME copper recoups some of Friday’s lost ground, with traders also citing the underlying demand emanating from the EV revolution.

US Event Calendar

  • 10am: Oct. Pending Home Sales YoY, prior -7.2%
  • 10am: Oct. Pending Home Sales (MoM), est. 0.8%, prior -2.3%
  • 10:30am: Nov. Dallas Fed Manf. Activity, est. 17.0, prior 14.6

Central Bank speakers:

  • 3pm: Fed’s Williams gives opening remarks at NY Innovation Center
  • 3:05pm: Powell Makes Opening Remarks at New York Fed Innovation Event
  • 3:15pm: Fed’s Hassan moderates panel introducing NY Innovation Center
  • 5:05pm: Fed’s Bowman Discusses Central bank and Indigenous Economies

DB’s Jim Reid concludes the overnight wrap

Last night Henry in my team put out a Q&A looking at what we know about Omicron (link here) as many risk assets put in their worst performance of the year on Friday after it exploded into view. The main reason for the widespread concern is the incredibly high number of mutations, with 32 on the spike protein specifically, which is the part of the virus that allows it to enter human cells. That’s much more than we’ve seen for previous variants, and raises the prospect it could be a more transmissible version of the virus, although scientists are still assessing this.

South Africa is clearly where it has been discovered (not necessarily originated from) and where it has been spreading most. The fact that’s it’s become the dominant strain there in just two weeks hints at its higher level of contagiousness. However the read through to elsewhere is tough as the country has only fully vaccinated 24% of its population, relative to at least 68% in most of the larger developed countries bar the US which languishes at 58%.

It could still prove less deadly (as virus variants over time mostly are) but if it is more contagious that could offset this and it could still cause similar healthcare issues, especially if vaccines are less protective. On the other hand the South African doctor who first alerted authorities to the unusual symptoms that have now been found to have been caused by Omicron, was on numerous media platforms over the weekend suggesting that the patients she has seen with it were exhausted but generally had mild symptoms. However she also said her patients were from a healthy cohort so we can’t relax too much on this. However as South African cases rise we will get a lot of clues from hospitalisation data even if only 6% of the country is over 65s.

My personal view is that we’ll get a lot of information quite quickly around how bad this variant is. The reports over the weekend that numerous cases of Omicron have already been discovered around the world, suggests it’s probably more widespread than people think already. So we will likely soon learn whether these patients present with more severe illness and we’ll also learn of their vaccination status before any official study is out. The only caveat would be that until elderly patients have been exposed in enough scale we won’t be able to rule out the more negative scenarios.

Before all that the level of restrictions have been significantly ramped up over the weekend in many countries. Henry discusses this in his note but one very significant one is that ALL travellers coming into (or back to) the UK will have to self isolate until they get a negative PCR test. This sort of thing will dramatically reduce travel, especially short business trips. Overnight Japan have effectively banned ALL foreign visitors.

I appreciate its dangerous to be positive on covid at the moment but you only have to look at the UK for signs that boosters are doing a great job. Cases in the elderly population continue to collapse as the roll out progresses well and overall deaths have dropped nearly 20% over the last week to 121 (7-day average) – a tenth of where they were at the peak even though cases have recently been 80-90% of their peak levels. If Europe are just lagging the UK on boosters rather than anything more structural, most countries should be able to control the current wave all things being equal. However Omicron could make things less equal but it would be a huge surprise if vaccines made no impact.

Stocks in Asia are trading cautiously but remember that the US and Europe sold off more aggressively after Asia closed on Friday. So the lack of major damage is insightful. The Nikkei (-0.02%), Shanghai Composite (-0.14%), CSI (-0.22%), KOSPI (-0.47%) and Hang Seng (-0.68%) are only slightly lower.

Treasury yields, oil, and equity futures are all rising in Asia. US treasury yields are up 4-6bps across the curve, Oil is c.+4.5% higher, while the ZAR is +1.31%. Equity futures are trading higher with the S&P 500 (+0.71%) and DAX (+0.84%) futures in the green.

In terms of looking ahead, we may be heading into December this week but there’s still an incredibly eventful period ahead on the market calendar even outside of Omicron. We have payrolls on Friday which could still have a big impact on what the Fed do at their important December 15 FOMC and especially on whether they accelerate the taper. Wednesday (Manufacturing) and Friday (Services) see the latest global PMIs which will as ever be closely watched even if people will suggest that the latest virus surge and now Omicron variant may make it backward looking. Elsewhere in the Euro Area, we’ll get the flash CPI estimate for November tomorrow (France and Italy on the same day with Germany today), and we’ll hear from Fed Chair Powell as he testifies (with Mrs Yellen) before congressional committees tomorrow and Wednesday. There’s lots of other Fed speakers this week (ahead of their blackout from this coming weekend) and last week there was a definite shift towards a faster taper bias, even amongst the doves on the committee with Daly being the most important potential convert. Fed speakers this week might though have to balance the emergence of the new variant with the obvious point that without it the Fed is a fair bit behind the curve. Importantly but lurking in the background, Friday is also the US funding deadline before another government shutdown. History would suggest a tense last minute deal but it’s tough to predict.

Recapping last week now and the emergence of the new variant reshaped the whole week even if ahead of this, continued case growth across Europe prompted renewed lockdown measures and travel bans across the continent.

Risk sentiment clearly plummeted on Friday. The S&P 500 fell -2.27%, the biggest drop since October 2020, while the Stoxx 600 fell -3.67%, the biggest one-day decline since the original Covid-induced risk off in March 2020. The S&P 500 was -2.20% lower last week, while the Stoxx 600 was down -4.53% on the week. 10yr treasury, bund, and gilt yields declined -16.1bps, -8.7bps, and -14.5bps, undoing the inflation and policy response-driven selloff from earlier in the week. The drop in 10yr treasury and gilt yields were the biggest one-day declines since the original Covid-driven rally in March 2020, while the drop in bund yields was the largest since April 2020. 10yr treasury, bund, and gilt yields ended the week -7.3bps lower, +0.7bps higher, and -5.4bps lower, respectively.

Measures of inflation compensation declined due to the anticipated hit to global demand, with 10yr breakevens in the US and Germany -6.8bps and -8.8bps lower Friday, along with Brent and WTI futures declining -11.55% and -13.06%, respectively.

Investors pushed back the anticipated timing of rate hikes. As it stands, the first full Fed hike is just about priced for July, and 2 hikes are priced for 2022. This follows a hawkish tone from even the most dovish FOMC members and the November FOMC minutes last week. The prevailing sentiment was the FOMC was preparing to accelerate their asset purchase taper at the December meeting to enable inflation-fighting rate hikes earlier in 2022. Understanding the impact of the new variant will be crucial for interpreting the Fed’s reaction function, though. The impact may not be so obvious; while a new variant would certainly hurt global demand and portend more policy accommodation, it will also likely prompt more virus-avoiding behaviour in the labour market, preventing workers from returning to pre-Covid levels. Whether the Fed decides to accommodate these sidelined workers for longer, or to re-think what constitutes full employment in a Covid world should inform your view on whether they accelerate tapering in December.

It feels like a lifetime ago but last week also saw President Biden nominate Chair Powell to head the Fed for another term, and for Governor Brainard to serve as Vice Chair. The announcement led to a selloff in rates as the more dovish Brainard did not land the head job.

In Germany, the center-left SPD, Greens, and liberal FDP agreed to a full coalition deal. The traffic-light coalition agreed to restore the debt break in 2023, after being suspended during the pandemic, and to raise the minimum wage to €12 per hour. The SPD’s Olaf Scholz will assume the Chancellorship.

The US, China, India, Japan, South Korea, and UK announced releases of strategic petroleum reserves. Oil prices were higher following the announcement, in part because releases were smaller than anticipated but, as mentioned, prices dropped precipitously on Friday on the global demand impact of the new Covid variant.

The ECB released the minutes of the October Governing Council meeting, where officials stressed the need to maintain optionality in their policy setting. They acknowledged growing upside risks to inflation but stressed the importance of not overreacting in setting policy as they see how inflation scenarios might unfold.

3A/ASIAN AFFAIRS

i) MONDAY MORNING/SUNDAY  NIGHT: 

SHANGHAI CLOSED DOWN 1.39 PTS OR  0.04%     //Hang Sang CLOSED DOWN 223.28 PTS OR 0.95% /The Nikkei closed DOWN 467.70 PTS OR 1.63%     //Australia’s all ordinaires CLOSED DOWN 0.49%

/Chinese yuan (ONSHORE) closed UP  6.3839   /Oil DOWN TO 71.47 dollars per barrel for WTI and DOWN TO 76.00 for Brent. Stocks in Europe OPENED  ALL GREEN  /ONSHORE YUAN CLOSED  UP AT 6.3839 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3869/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/COVID //OMICRON

Japan Joins Growing List Of Countries Closing Borders As More Omicron Cases Detected Globally

 
MONDAY, NOV 29, 2021 – 10:34 AM

Speaking on CNBC Monday morning following a holiday weekend in the US marked by rising hysteria over the new “Omicron” variant, Moderna CEO Stephane Bancel warned that any country that has received flights from southern Africa over the last two weeks very likely has already imported this new, highly infectious variant – even as others push back against claims that the new variant is hyper infectious.

For whatever reason, the mainstream media is choosing to amplify voices like Bancel’s who are warning that the variant may be “highly infectious” while affirming that vaccine makers are working on new boosters specially designed to battle variants like omicron and others amid speculation the new variant can get around natural immunity from prior infection, as well as immunity fostered by being “fully vaccinated”.

CNBC also bagged an interview with Pfizer CEO Albert Bourla, who said Pfizer’s as-yet-to-be-released antiviral, Paxlovid. It’s expected that Paxlovid would likely be just as effective against omicron. Bourla said that the company would have all the information that it needs ‘within weeks’. This information would help it ascertain the threat posed by the new variant. Bourla also said Pfizer could tweak its vaccine recipe to deliver an omicron-focused booster.

South African scientists have demanded that jab makers deliver these magical new boosters first to the south African countries where the mutant strain was first detected. Somehow, we highly doubt American vaccine-makers will prioritize African countries when the first cases of omicron have already been detected in the US. More quietly, a Pretoria doctor responsible for advising the South African government said over the weekend that symptoms of domestic cases linked to omicron have been “mild” so far.

In other omicron-related news, Japan announced early Monday in the US that the Japanese government would bar entry of all new foreign visitors beginning Nov. 30 over concerns about the omicron variant.

Japanese PM Fumio Kishida didn’t clarify whether the new curbs applied to foreigners living and working in Japan, though he did say that Japanese nationals returning from “countries of interest” would be subject to more restrictive quarantine rules.

Ultimately, Japan is waiting for more information on the new variant as it tries to ascertain whether omicron has a chance of living up to the hype. The World Health Organization is holding a special public session with Dr. Tedros, the nominal leader of the organization. Anybody interested can watch video below:

As far as confirmed cases are concerned, Portugal on Monday said it had identified 13 cases of the omicron variant tied to a Lisbon-based soccer club. The club was forced to take part in a top-flight game over the weekend – a game that was abandoned while in progress.

Portugal’s national health institute said the 13 players were isolating and that they were all players or staff members of Belenenses, which fielded a depleted team of only nine players against Benfica on Saturday after reporting a coronavirus outbreak.

One player on the Lisbon team recently returned from South Africa, the country where scientists with the Kwazulu-Natal research Innovation and Sequencing Platform first identified the new variant.

Separately, Portugal’s health authorities said they are tracing more than 200 passengers who had arrived in Portugal on Saturday from Maputo, Mozambique, one of a handful of southern African nations seen as most likely to export cases of the variant. At least two people on the flight had tested positive for COVID, although it isn’t clear whether these cases have been driven by the new variant.

Circling back to the developed world, where scientists are assuming that any country that has received flights from southern African nations over the last two weeks might be vulnerable to a renewed omicron-driven outbreak, Australia has decided to delay the reopening of its borders for two weeks after confirming that two cases of the variant have been identified in Sydney. Japan, which imposed new travel restrictions, has prohibited all tourists since early in the pandemic.

Around the world, countries tightened restrictions pertaining to the border and travel, while some moved ahead with plans to reopen land borders. For example, Singapore and Malaysia went ahead with plans to reopen their land border, while South Korea, on the other hand, announced planned to delay any loosening of COVID restrictions, according to the NYT.

With regard to Biden’s “racist” ban, the travel restrictions do not ban flights or apply to U.S. citizens and lawful U.S. permanent residents (barring only foreign travelers from South Africa and seven other southern African countries). However, until the ban started at 12:01 ET Monday, flights from South Africa continued to carry foreign nationals.

Delta Air Lines and United Airlines, the two airlines that fly direct to Johannesburg said on Friday they do not plan any changes to their South Africa-U.S. flights after the variant was discovered. United currently operates five flights per week between Newark and Johannesburg. Delta operates three from Johannesburg to Atlanta.

Globally, it appears the trend is toward shutting down, not reopening, as a cascade of border closures and travel restrictions began to recall the earliest days of the pandemic, even in the absence of scientific evidence about whether such measures might help to stop the virus’s spread. Hours after Israel announced its blanket ban over the weekend, Morocco said Sunday that it would deny entry to all travelers, even Moroccan citizens, for 2 weeks starting Monday. The country will also ban all incoming and outgoing flights for two weeks.

Broad restrictions like these contrasted with restrictions imposed by the US, UK, Canada and the EU, which have all announced bans on travelers from southern Africa only. Indonesia on Monday joined a small but growing list of countries that have barred travel from Hong Kong as well as the southern Africa region. HK detected 2 cases of omicron back on Thursday, as we learned over the weekend. India and Pakistan cited the Hong Kong cases as inspiration for its own travel ban.

Despite the fact that it has delivered more boosters than any other nation (while also vaccinating a higher percentage of its citizens), Israel has imposed some of the most restrictive new travel rules, barring all entrants except those needed for “urgent humanitarian reasons” that must be approved by a special committee.

As far as confirmed cases of the new variant, it has been detected in South Africa and Botswana, as well as in travelers to Australia, Austria, Belgium, Britain, Canada, Czech Republic, Denmark, Germany, Israel, Italy, the Netherlands and Hong Kong. The variant officially arrived to North America late Sunday as public health officials in Ontario confirmed two cases. It’s unclear whether the variant has arrived in the US.

Here’s a map of the variant’s spread courtesy of the NYT:

Source: NYT

And here’s a list, courtesy of WaPo:

  • Australia
  • Austria
  • Belgium
  • Botswana
  • Canada
  • Denmark
  • France
  • Germany
  • Hong Kong
  • Israel
  • Italy
  • Netherlands
  • Portugal
  • South Africa
  • Switzerland (probable case)
  • UK

As for the total number of cases confirmed globally, it’s not clear how many omicron cases have been confirmed.

Within the UK, six cases of the variant have reportedly identified in Scotland, according to a Monday morning report from the BBC.

The variant was first identified in South Africa with the first confirmed cases in Botswana and nearby countries.

As the WHO reminds us, fewer than 200 cases of omicron have been confirmed around the world. It’s also not clear yet whether the new variant will be as effective at evading vaccine-induced protections as some scientists fear.

As we have noted before, other scientists believe the variant would likely only produce mild symptoms in patients who have already been infected, along with the vaccinated.

Omicron carries about 50 mutations not seen in combination before, including more than 30 mutations on the spike protein that the coronavirus uses to attach to human cells. But as for whether omicron will ultimately prove more deadly than earlier strains, well, it’s not yet clear: a growing number of scientists in South Africa and elsewhere have said the symptoms caused by the new strain are “mild to moderate”, and ultimately less severe than other strains like delta.

end

3 C CHINA

//CHINA//

It starts again:  Beijing capitulates as they now urge local government to issue bonds to unleash a debt flood as cities begin to backstop property developers.   So this time, it is local government that will be doing the issuing of bonds.

(zerohedge)

Beijing Capitulates: Urges Local Govts To Unleash Debt Flood As Cities Begin Backstopping Property Developers

 
SUNDAY, NOV 28, 2021 – 08:00 PM

Despite the best efforts by South African doctors to temper the panic sparked by the emergence of the Omicron strain, it appears that western politicians and their media and “science” lackeys won’t let go so fast, and one of the potential casualties is China, which will either be forced to engage in more lockdowns, depressing the economy, or find itself engaged in far less trade with a world that is about to undergo another wave of restrictions.

All this, of course, is happening as the recent deep freeze of China’s property market – the largest asses in the world according to Goldman Sachs…

… and sparked by the repeated near-death experiences of Evergrande – has unleashed a bone-crushing shockwave across China’s economy, which takes place as Beijing continues to maintain its deleveraging stance amid Xi’s “shared prosperity” drive, which has meant far less nearly created credit is available to mask the current weakness in the economy.

And yet, cracks are finally starting to show in Beijing’s deleveraging resolve and last week China’s State Council called on local governments to sell more special bonds this year in order to boost investment amid a slowdown in the economy.

According to Bloomberg, Premier Li Keqiang chaired a meeting of the State Council (i.e., China’s cabinet) on Wednesday, urging local governments to have more ongoing construction of projects at the beginning of next year, the official Xinhua News Agency reported. And since they need money to fund these projects, the meeting also called on them to make better use of proceeds from special bonds to expand domestic demand.

Said otherwise, China is once again quietly restarting the re-leveraging process, only this time instead of consumer loans, corporate bonds, or shadow debt (in the form of trusts), Beijing is targeting local government special debt issuance as the focal point of the next debt bubble.

Xinhua confirmed as much, reporting that “regional governments should step up project preparation, facilitate the launch of projects that are mature, and make reasonable requests for special bond quotas next year.” And to assist this upcoming debt burst, “the authorities will study the possibility of granting some bond quotas in advance of next year, according to the report, as they did in the recent two years.”

Meanwhile, echoing what he said at the start of the month, premier Li reiterated the economy is facing “new downward pressure” and cross-cyclical policy needs to be strengthened. This comes as economists have pared back their growth forecasts for the fourth quarter to a median of just 3.1%, while some say the economy’s pace next year could be slowest since 1990 (excluding last year’s pandemic impact), as low as 5% or even less according to some skeptics.

Alas, there is an unexpected problem with Beijing’s plan: lack of demand for the debt. As Bloomberg notes, sales of local government special bonds have been particularly slow in the first ten months of this year, partly due to a lack of quality projects. Previously, the Ministry of Finance urged local authorities to finish issuing all the bonds within this year’s quota by November. Alas, the collapse in Evergrande, and the broader property market has taken all the wind out of China’s construction sails in 2021.

Needless to say Beijing had to spin this unpleasant outcome, and instead the State Council meeting said that the Local governments have achieved positive results in managing debt and reducing so-called hidden debt in recent years, with the government’s overall debt-to-gross domestic product ratio trending lower.

And while the meeting added that authorities need to step up auditing and monitoring of proceeds raised from the bond sales, China Securities Journal reported on Thursday that fiscal policy will play a bigger role in ensuring the economy has a stable start in 2022. And where will funding for said “fiscal policy” stimulus come from? Well, as Citic Securities economist Zhu Jianfeng said, while local governments’ income from land sales might fall, they should issue more special bonds to help fund investment projects.

Then on Wednesday, the Securities Times reported that according to another Citi analyst, Cheng Qiang, regional government may issue more than 4 trillion yuan ($630 billion) worth of special bonds next year, up from the 3.65 trillion yuan budgeted for this year. Expect the final number to be much higher, especially if Omicron is indeed as dangerous as Fauci & Co. are trying to make it seem.

Finally, a look at the latest Chinese property regulatory actions compiled by Goldman shows that over the past few weeks there have been incrementally more marginal loosening efforts at different city levels, especially in terms of mortgage rate easing and presales permit requirement/deposit withdrawal relaxation. Said otherwise, while China is not yet panicking it realizes that the deleveraging campaign is now effectively finished, and so expect much more debt creation in China next year.

In short, China is about to restart its debt machine, and while all Chinese debt is of course fungible – since the state owns and controls all – this time around it will be the “local government” silo that will serve the the global growth dynamo for the coming year.

Meanwhile, as China targets property stabilization at the macro level via local government bond sales, it is also expanding its “micro” focus and also last week, a Chinese city rolled out a series of easing measures to boost liquidity at property developers, becoming the first major local government to address a cash crunch engulfing the real estate industry.

Chengdu, the capital of the southwestern province of Sichuan with a population of about 21 million, will accelerate approvals for home sales and property loans as well as ease restrictions on using proceeds from pre-sales, according to a statement posted by the local housing authority last week, Bloomberg reported.

“Chengdu is the first city authority to call for faster property-related loans in a clear official statement,” said Yan Yuejin, research director at Shanghai-based E-house China Research and Development Institute. “We may see other initiatives to press banks on faster mortgages soon.”

The capitulation by Chengdu comes as new-home values in the city dropped 0.6% in October from a month earlier, the biggest slump in four and a half years.

Here are some of Chengdu’s key measures allowing developers to boost cash:

  • The housing authority vowed to shorten the time for compulsory pre-sales procedures by at least a third
  • Developers will be able to use proceeds from pre-sales if they meet certain construction progress
  • Chengdu will work with financial institutions to increase credit quotas for developers and accelerate loan approvals
  • The city said it will coordinate with banks to extend property development loans for key developers

The move to boost liquidity in the beleaguered building sector comes as China’s home slump deepens, adding pressure on authorities to stabilize an industry that’s estimated to account for almost a quarter of economic output.

Separately, last week some cities relaxed rules for land sales – a key revenue source for municipalities – after cash-strapped developers became reluctant to bid, prompting the abovementioned appeal on local governments by China’s State Council to sell more special bonds to boost investment amid a slowdown in the economy.

The bottom line is that as many had expected, regulators are finally fine-tuning their long-running crackdown on the property sector after the near implosion at Evergrande and other junk-rated developers began spreading to higher-rated peers. In late September, the central bank urged financial institutions to help local governments stabilize the rapidly cooling housing market and ease mortgages for some homebuyers. Official media reported in recent weeks that faster mortgages are already on the way.

“It shows how the city government cares about developers’ liquidity risks,” said Pan Hao, a property analyst at KE Holdings, adding that Chengdu is looking at different measures to prevent developers’ cash risk from blowing up. And now that one city has adopted a property bailout strategy, expect every single other Chinese city to follow suit, the result of which will be another major can-kicking for China’s property sector at the expense of trillions in new debt, this time at the local government level.

TAIWAN/USA/CHINA

end

CHINA///TECH

end

CHINA //TECH

 

end

 

4/EUROPEAN AFFAIRS

 

 
 
FRANCE/BREXIT//UK
 
France now escalates the feud with the uK on fishing rights as BOJO again waffles on the Brexit fisheries deal
(zerohedge)

France Escalates Feud With UK As BoJo Waffles On Brexit “Fisheries” Deal

 
SUNDAY, NOV 28, 2021 – 07:35 AM

It appears the Brexit fisheries dispute is flaring back up. After what has been a rocky year of near-confrontations between France (which is leading the EU parties concerned about access to nominally “British” fisheries) and the UK over fisheries access, a key compromise included in the UK-EU post-Brexit trade treaty.

For those who need a reminder, the EU’s fishing industry is entirely dependent on access to British waters, as we recently explained.

Infographic: Brexit: European Fishing's Dependence on British Waters | Statista

You will find more infographics at Statista

On Friday, French fishermen blockaded the port of Calais, temporarily preventing two ferries carrying trucks and passengers from entering, in protest against the UK’s failure to issue more licences to fish in British waters. In an effort to disrupt trade, several trawlers maneuvered to force the DFDS and P&O ferries to reduce speed and hold outside the port, a major entry point to the continental market for British goods.

It might not seem like much, but the blockade, which lasted 90 minutes, marked an escalation in the post-Brexit row between London and Paris over fishing rights in Britain’s coastal waters. Ever since the deal was struck, British PM Boris Johnson has raised fears that he might not comply.

Britain says any licences that are being withheld lack the correct documentation to issue them, Reuters reports.

The two ferries outside the port on Friday reduced their speed until their path was clear, the MarineTraffic app showed. Afterward, the protest shifted to the Channel Tunnel where the fishermen held up goods moving to and from Britain through the Channel Tunnel rail link.

Before Brexit and the pandemic, 1.8M trucks per year were routed through Calais.

Earlier in the day, fishermen blocked a small British cargo, the Normandy Trader, from docking in the Brittany port of Saint-Malo. France says Jersey, a British Crown Dependency, has also failed to issue licences due to its fishermen under a post-Brexit deal.

While we are sure the British would love to dismiss this latest flareup, according to Reuters, the one-hour Saint-Malo protest and the larger action further east along France’s coast could risk reigniting a dispute between Britain and France over the mutual licensing system for fishing vessels.

Put another way: this definitely isn’t the best time for the British to be confronted with the next vaccine variant threat.

 
 

UK

First case of Omicron variant detected in the UK. I have my doubts on the stability of Omicron. Usually we have two or three little changes in the spike protein to gain transmissibility.  The Omicron has 32 changes

This should make it quite unstable.

(zerohedge)

First Cases Of Omicron COVID Variant Detected In UK

 
SATURDAY, NOV 27, 2021 – 11:16 AM

Two infections with the new Omicron variant (also known as B.1.1.529 COVID-19 variant) have been detected in the U.K., according to the health secretary. 

Health Minister Sajid Javid tweeted Saturday that the U.K. Health Security Agency has been notified about two U.K. cases of the Omicron variant. He said, “the two cases are linked and there is a connection with travel to southern Africa,” adding “these individuals are self-isolating with their households while further testing and contact tracing is underway.”

Javid said one infection was detected in Chelmsford, Essex, and another in Nottingham. He said, “as a precaution, we are rolling out additional targeted testing in the affected areas,” calling the infiltration of the new coronavirus variant “a fast-moving situation.”

He added, “We are taking decisive steps to protect public health.”

The health secretary announced that four countries – Angola, Mozambique, Malawi, and Zambia – will be added to the “red list,” effective from 0400 local time Sunday. Anyone returning from these countries must isolate for ten days and receive “PCR tests.” 

Last week, scientists first detected the new variant in Botswana and then in South Africa. It has since spread to other countries, including Israel, Hong Kong, and Belgium, prompting officials in Europe, Asia, and North America to restrict travel from Africa. 

Citi analyst Andrew Baum spoke with Pfizer’s CEO, Albert Bourla, about the new variant, who said laboratory tests are underway and could take up two weeks to decide whether a reformulation of the COVID-19 vaccine is needed. If so, Bourla said it could take 100 days to develop a novel variant vaccine to combat Omicron. 

Courtesy of Bloomberg’s James Ludden, here are the latest updates on the latest COVID scare:

U.K. Reports Two Cases of Omicron Variant (9:16 a.m. N.Y.)

 The U.K. has confirmed two cases of the new Covid-19 strain omicron. “The two cases are linked and there is a connection with travel to southern Africa,” Health Minister Sajid Javid said on Twitter. The individuals and their households — one in Chelmsford and one in Nottingham — are self-isolating and contact tracing is ongoing, according to the U.K. Health Security Agency

German Scientists Urge Immediate Restrictions (8:03 a.m. N.Y.)

The German National Academy of Science Leopoldina is urging the government to implement stringent contact restrictions immediately for a few weeks to combat the pandemic and address the Omicron variant. These bans must also cover vaccinated people and those who recovered from an infection. The government also must make vaccination mandatory over the coming months, the academy said in a statement on its website.

Highly Probable Omicron Is in Germany (6:21 p.m. H.K.)

 It’s “very likely” the new coronavirus strain, omicron, has arrived in Germany, a state official said Saturday. A traveler returning from South Africa on Friday night showed several symptoms typical of the new variant, Kai Klose, minister of social affairs in the German state of Hesse, said on Twitter without providing more detail. While the virus sample hasn’t been sequenced, there’s a “high level of suspicion” that the person has the new strain, Klose said. The traveler has been isolated at home.

Modi Wants to Review Easing of Travel Rules (6:02 p.m. H.K.) 

Prime Minister Narendra Modi asked Indian officials to review plans for the easing of international travel restrictions after the emergence of the new omicron variant. India needs to be “proactive in light of the new variant,” Modi said during a meeting on the Covid-19 situation and the pace of vaccinations in the country. On Friday, the Press Trust of India cited the civil aviation ministry as saying scheduled international flights to and from India will resume starting Dec. 15.

Dutch: 61 Flyers From S. Africa Test Positive (5:49 p.m. H.K.) 

Sixty-one people arriving in the Netherlands on separate flights from South Africa tested positive for the coronavirus and were in isolation Saturday, the A.P. reported. Further tests are underway to determine if any of those who arrived at Amsterdam’s Schiphol Airport are infected with the new omicron variant. The planes arrived in the Netherlands on Friday shortly after the Dutch government imposed a ban on flights from some southern African nations following discovery of the new variant.

New Zealand, Australia Tighten Borders (4:17 p.m. H.K.)

New Zealand joined Australia in banning entry to travelers from nine African countries in an effort to protect against the new omicron variant. The restrictions start Sunday night but don’t apply to returning citizens, Covid-19 Response Minister Chris Hipkins said. New Zealanders returning from those nations are required to undergo testing and a 14-day managed isolation period, he said. Earlier, Australia said direct flights from South Africa, Namibia, Zimbabwe, Botswana, Lesotho, Eswatini, the Seychelles, Malawi and Mozambique were being suspended, Health Minister Greg Hunt said. Returning citizens and their dependents who have been in any of those countries in the past 14 days must enter supervised quarantine on arrival.

Thailand Bars Entry From Eight African Nations (2:38 p.m. H.K.) 

Thailand will ban entry from eight southern African nations from Dec. 1, after Prime Minister Prayuth Chan-Ocha ordered agencies to step up vigilance against the new omicron variant. Arrivals from Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa and Zimbabwe will be forbidden, said Opas Karnkawinpong, director general of the Disease Control Department.

N.Y. Governor Declares State of Emergency (8:35 a.m. H.K.) 

New York Governor Kathy Hochul declared a state of emergency on Friday due to a rise in the state’s Covid cases and the threat of the omicron variant. She said the variant hasn’t yet been detected in New York but she decided to sign an executive order to allow the health department to limit non-essential, non-urgent procedures at hospitals and acquire critical supplies more quickly. The order takes effect Dec. 3 and will be re-assessed Jan. 15.

CDC Concerned Vaccines May Not Work Well (5:49 a.m. H.K.)

 Based on omicron’s mutation profile, partial immune escape is likely, the European Centre for Disease Prevention and Control said in a threat assessment report Friday. The E.U.’s health agency is among the first official authorities to acknowledge that vaccines may not work well against the new strain. The ECDC pushed authorities to “urgently” reinforce pandemic restrictions, avoiding travel to affected areas, and the vaccination of holdouts.

U.S., Canada Curb Travel From Southern Africa (2:05 p.m. N.Y.) 

President Joe Biden’s administration will restrict travel from South Africa and seven other countries starting on Monday, according to senior administration officials. In addition to South Africa, they include Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The policy doesn’t apply to American citizens and lawful permanent residents, though they must still test negative prior to travel to the U.S. Canada is banning the entry of foreign nationals who have traveled through southern Africa in the last 14 days.

As anyone who works in P.R. and or marketing knows, global elites need to keep their COVID narrative fresh, relevant and scary. We urge everyone to read what we know so far about variant in Friday’s note titled “A Scared Nu World: Here’s What We Know About The COVID “Omicron” Strain.”  

Here’s a possible guide of what could happen next:

Remember, U.S.’ top infectious disease expert, Dr. Anthony Fauci, did say months ago that the U.S. may face a “dark winter.” How long until he blames the unvaccinated? 

 
end
 
Belgium/COVID
 
Belgian Prime Minister says that the new variant heralds the arrival of COVID 21. Here is a good question: how are they testing for this new variant?  With 32 mutations, it should be quite unstable
(Paul Watson/SummitNews)_
 

Belgian Prime Minister Says New Variant Heralds Arrival Of “COVID-21”

 
SUNDAY, NOV 28, 2021 – 08:10 AM

Authored by Paul Joseph Watson via Summit News,

The Prime Minister of Belgium says the new mutant variant of coronavirus is so potentially devastating that it should be called ‘COVID-21’.

Yes, really.

Alexander De Croo made the comments during a press conference after international markets plummeted in response to the news that the ‘Nu’ variant of the virus had been discovered in Botswana and spread across South Africa.

“You could say that this is Covid-21 instead of Covid-19: it is three times more infectious than the original virus,” said De Croo.

His remarks came in the aftermath of sustained media panic over the new mutation and the UK Health Security Agency (UKHSA) describing the variant as “the worst one we’ve seen so far.”

It was confirmed that the B.1.1.529 variant had reached Europe after it was detected in someone who had entered Belgium after traveling to Egypt.

Some European countries are already tightening COVID restrictions despite the fact that very little is known about the new strain and it could take weeks to determine if it is a major threat.

However, international alarm over the mutation was questioned by South Africa’s medical chief Dr. Angelique Coetzee, who described the response as a “storm in a teacup.”

According to Coetzee, South Africa has only recorded “very very mild cases” of the variant so far.

END

 

GERMANY//

Germany has a huge number of new COVID infections and probably some of the new variant. Spahn calls for contact restrictions to fight the advance of COVID. Interesting enough, Germany is heavily vaccinated so what is causing this huge influx of cases? the Omicron has 32 mutations and it should be quite unstable and not transmissible.

(The Local.de)

German Health Minister Calls For “Massive Contact Restrictions” To Fight COVID

 
SATURDAY, NOV 27, 2021 – 08:10 AM

By TheLocal.de,

German Health Minister Jens Spahn has urged the incoming government to take drastic measures after more than 76,000 new Covid infections were reported within a day, saying the situation was “more serious than any other time in this pandemic.”

Health Minister Jens Spahn addresses reporters at a press conference in Berlin on November 26th, 2021. Photo: picture alliance/dpa | Bernd von Jutrczenka

The situation is dramatically serious,” the CDU politician told reporters gathered in Berlin on Friday. “More serious than at any other time in this pandemic.”

Calling the current situation in Germany a ‘national emergency’, Spahn claimed that the incoming government was doing too little, too late to try and stem the tide. “We must stop this wave now,” he warned.

On Friday, the weekly incidence of Covid infections hit yet another new peak of 438 infections per 100,000 people, while the Robert Koch Institute (RKI) reported a record-breaking 76,000 new infections within a day. In the worst-hit region of Saxony, the 7-day incidence recently topped 1,000 per 100,000 people.

In the meantime, weekly hospitalisations have been edging up and now stand at 5.97 per 100,000 people nationally. The daily Covid death toll hit 357 on Friday, bringing the total number of deaths since the start of the pandemic to 100,476.  

Criticising politicians who he said had underestimated the scale of the crisis, Spahn warned that the Covid wave would “continue to move west and north” from the regions in the south and east of Germany that have been badly affected so far.

In the short term, he said, there is only one thing that will make a decisive difference: “The number of contacts must be reduced, significantly, otherwise (the measures) are no use at all.”

States should introduce consistent access rules that allow entry only to vaccinated and recovered people who have a negative test to hand (a system known as 2G plus) and should consider the cancellation of festive celebrations and large events, he said.

Appearing at the press conference alongside Spahn, RKI president Lothar Wieler also urged lawmakers to take decisive action in order to stem the spread of the virus.

 

RKI president Lothar Wieler appears at a press conference alongside Jens Spahn on Friday. Photo: picture alliance/dpa

“I now expect decision-makers to initiate all possible measures to jointly bring the case numbers down,” he said, adding that contact restrictions should once again be brought into play.

“With every contact we don’t have, with every meeting we forgo, with every crowd we avoid, we help slow the spread of the virus,” Wieler said.

He appealed to Germans: “Please get vaccinated or get your booster jabs, and please also comply with all the measures adopted in the federal states.”

South African ‘supervariant’

At the press conference on Friday morning, Spahn also expressed concern about the new ‘supervariant’ (B.1.1.529) that has recently appeared in South Africa.

As The Local reported on Friday, the discovery of the new variant has prompted Germany to ban all incoming travel from the country for people who don’t live in Germany or hold German citizenship.

The aim must be to avoid the entry of this variant as far as possible, the caretaker health minister said. “The arrival of a new variant is the last thing we need now in our current situation,” he added.

Spahn urged all people who have arrived in Germany from South Africa and the surrounding countries in recent days to get tested for the virus with a PCR test to be on the safe side.

RKI chief Wieler said that, as of Friday morning, he was not aware that the virus variant had made it into Europe or Germany.

At the same time, he stressed: “We are very concerned. And I very much hope that stringent work will be done to at least limit the spread of this variant as much as possible through travel restrictions.”

In some provinces of South Africa, there’s been a stark upswing in the number of infections over the past few days, which experts believe could be due to the new variant.

Compared to Delta, which has two mutations, and Beta, which has three, the as-yet unnamed South African variant has ten mutations, meaning it could be more resistant to vaccines, spread faster and place more strain on the human immune system.(HARVEY:  it has 32 mutations and it is named after the Greek letter  OMICRON. They decided to bypass NU and XI)

The World Health Organisation (WHO) is said to be studying the newly emerged variant to see if it should be classed as variant of ‘interest’ or ‘concern’.

Meeting of state leaders

On Thursday, November 25th, Germany’s ‘epidemic situation of national importance’ was allowed to expire after almost a year and a half. The epidemic situation clause had granted sweeping powers to the federal government and states to impose Covid restrictions such as lockdowns and mandatory masks without consulting parliament.

The incoming government has opted to replace the clause with amendments to the Infection Protection Act, but critics from the opposition CDU/CSU parties say the new regulation does not go far enough.

In order to get their amended Act through the upper house of parliament, the three ‘traffic light’ parties were forced to strike a deal with Merkel’s conservatives. The deal ensured that the bill would be allowed to pass in the Bundesrat – but only if it was subject to review at the next meeting of state leaders on December 9th.

 

Health Minister Jens Spahn (CDU) holds up a graph to reporters at Friday’s press conference. Photo: picture alliance/dpa

With the Covid situation worsening daily, however, outgoing Health Minister Spahn has been calling on state leaders to bring the meeting forward. The meeting should ideally be held over the next few days, he said.

In light of the rising number of Covid patients on intensive care wards, urgent operations are currently having to be cancelled and postponed, while up to 100 intensive care patients have had to be moved to other hospitals in Germany where medical staff are less overburdened, Spahn revealed.

But these are only temporary solutions and cannot continue indefinitely, he said.

According to Spahn, however, there is one piece of good news: “The vaccination campaign is picking up again.”

In the past three days, there have been more than 300,000 new vaccinations against Covid, while this week, more than two million booster vaccinations have been administered.

“Every vaccination gives hope that this winter will not be as dark as it currently looks,” the Health Minister said.

END

GERMANY/RUSSIA/NORDSTREAM II

Germany is urging Congress to thwart Biden Administration sanctions on Nord Stream ii

(zerohedge)

Leaked Docs Reveal Germany Is Urging Congress To Thwart Biden Admin Sanctions On Nord Stream 2

 
MONDAY, NOV 29, 2021 – 05:45 AM

Axios on Sunday has revealed that Germany has been quietly urging the United States not to sanction the Nord Stream 2 pipeline, even as geopolitical tensions between Europe and Russia have been on edge over the past month given recent allegations the Kremlin is building up troops near Ukraine for a possible near-future offensive. 

The report details documents obtained by Axios wherein Congressional members are warned that fresh Biden admin sanctions would “ultimately damage transatlantic unity” and leave Washington’s credibility weakened.

What’s being dubbed the “non-paper” sent on November 19 argues that in actuality the Russia-to-Germany major natural gas pipeline does not harm Ukraine, and that proper steps have been taken to ensure it’s not a real threat to Kiev, particularly invoking the Joint Statement of the United States and Germany on Support for Ukraine and European Energy Security between Joe Biden and Angela Merkel. The statement puts in place guardrails to ensure Russia doesn’t use “energy as a weapon” and vows action if it does so.

The newly revealed document addressed to US lawmakers was marked “classified” and says, “US Sanctions targeting Nord Stream 2 would undermine the commitment given to Germany in the Joint Statement, weaken the credibility of the US government, and endanger the achievements of the Joint Statement, including the provisions supporting Ukraine.”

It spells out that US fears have been properly addressed, saying further according to Axios that guardrails include

…”strong public messages” condemning Russia’s behavior; “assessing” the suspension of future political meetings; and reviewing “possible” restrictions on future Russian fossil fuel projects — not including Nord Stream 2.

But it fundamentally argues that “the granting of the certification [to Nord Stream 2] will not put at risk the security of gas supply in Germany and the EU“, while referencing the Federal Ministry for Economic Affairs and Energy (BMWi) and independent regulator’s assessment.

For years going back into the Trump administration, the White House has consistently argued that its anti-NS2 stance is based on the fear that Putin is using the pipeline as a punitive action and weapon especially against Ukraine, cutting it out of crucial transit fees, and eventually seeking to bypass the Eastern European country altogether as a key energy transit hub. Thus it’s little wonder why the “non-paper” remained out of public eye and “classified” until now. The main US argument for blocking the line has rested on assuming that Putin wants to hold Europe’s energy independence hostage.

The document underscores that “Russia is currently fulfilling all delivery obligations, including the gas transit agreement with Ukraine, but it could do more: Recent announcements by Putin to increase deliveries to European gas storages are a step in the right direction.”

Previously other efforts were revealed…

The “classified” document addresses this head on, spelling out that “no threat to Ukraine as long as reasonable gas transit is ensured,” will be presented. It additionally argues that any new US sanctions on Nord Stream 2 would in the end be “a victory for Putin” because it would inevitably divide Western allies (also given even top German politicians are divided on the issue).

A week-and-a-half ago gas prices in Europe soared upon news that German regulators’ certification for NS2 – which is the final big hurdle before it can come online and begin natural gas delivery to Europe – has been suspended. But the suspension could be short-lived given the fast approaching winter and frigid temperatures, meaning EU countries are hungry to quickly tap more gas.

end

SWITZERLAND

This is rather a strange result:  62% of Swiss citizens vote to keep COVID vaccine passports

(zerohedge)

62% Of Swiss Citizens Vote To Keep Covid Vaccine Passports

 
MONDAY, NOV 29, 2021 – 04:15 AM

In a world where millions protest daily against the creeping tyranny of a big government which is abusing the neverending covid tragicomedy to get so much bigger it would make even George Orwell cringe, one country actually had a opportunity to put an end to “vaccine passports” and totally blew it: despite months of protests, Swiss citizens overwhelmingly voted to keep the country’s system of Covid vaccination certificates in place (not surprisingly, the deal was sweetened by the promise of financial assistance for voters).

According to RT, Sunday just over some 62% of voters chose to maintain the country’s coronavirus measures which include a controversial system of Covid vaccination certificates, required since September to enter bars, restaurants, theaters and other public spaces. Majorities in 24 of Switzerland’s 26 cantons backed the law, with only the tiny cantons of Schwyz and Appenzell Innerrhoden rejecting the measures.

And since covid has emerged as every politician’s best friend, all Swiss political parties with the exception of the right-wing Swiss People’s Party supported the law, which was brought to a vote after anti-lockdown groups gathered nearly 200,000 signatures to challenge it earlier this yearUnder Switzerland’s system of direct democracy, any initiative can be brought to a vote with 100,000 signatures.

Curiously, while voters in June backed the introduction of the measures by 60%, recent months have seen protests break out in Swiss cities over the introduction of vaccine certificates. Police in October used rubber bullets, tear gas and water cannon to disperse crowds of people who broke through barriers outside the parliament building in Bern. And yet, almost six months later, the support for the controversial measures appears to be even higher than when they were first introduced – one almost wonder if the entire referendum was by mail…

Alas, we will never know the answer.

“The democratic process has been respected but the law is still unconstitutional,” Michelle Cailler of the ‘Friends of the Constitution’ group said after the vote on Sunday. Cailler’s group was one of several who campaigned against the law.

Céline Amaudruz of the Swiss People’s Party, which is currently topping opinion polls in Switzerland, called on the government to take “coherent and measured” action, rather than treating the result as a “blank cheque” to impose whatever coronavirus-related policies it wishes.

The law voted on provides for more than just vaccine passports. It also expands financial support for citizens and businesses affected by the pandemic, a provision that may have won over some reluctant voters.

end

The World Medical Association demands the following:

  1. national lockdown
  2. compulsory jabs

They stupidly state that the COVID variant is as dangerous as Ebola.

The jury is still out of the Omicron variant so why are the scaring so many people. As we state above the Omicron should be quite unstable and less transmissible.

(zerohedge)

 

World Medical Association Chair Demands National Lockdowns, Compulsory Jabs, Fears COVID “Variant As Dangerous As Ebola”

 
SUNDAY, NOV 28, 2021 – 09:55 AM

The Omicron variant was identified six days ago, initially in Botswana. Infections have been detected in South Africa, Israel, Hong Kong, Belgium, and the UK. So far, the spreading of the heavily mutated variant of the Coronavirus has resulted in a stark warning from one top medical official. 

On Saturday, Frank Ulrich Montgomery, chairman of the global physicians’ society of the World Medical Association (WMA), told German reporters that he believes Omicron could become as dangerous as the Ebola virus.

Montgomery said, “the fastest and best thing to do is contact restrictions. We must avoid any form of crowd in the coming weeks. We should therefore close the Christmas markets nationwide.” 

He emphasized the importance of not giving the virus “a chance to mutate by preventing every possible infection.”

“The new South African variant is a good example of this. We don’t yet know anything about its dangerousness – but it seems to be spreading rapidly. My great concern is that it could lead to a variant that is as infectious as Delta and as dangerous as Ebola. The fewer infections we allow, the better.”

Montgomery said it may be necessary to keep “vaccinating the world for years” to come, adding that “only vaccination helps.” 

If people are not aware of their social responsibility or if they do not want to take it on, then one has to remind them a little more rigidly. In the case of a general compulsory vaccination – if allowed by the Stiko, from the age of five – all measures could soon be omitted. We would have our old life back,” he said. 

The bleak predictions come two weeks before BioNTech, Pfizer is expected to have laboratory tests on Omicron to determine if a new novel vaccine would be created. If so, it would take scientists 100 days to develop. 

Montgomery’s fearmongering comes as South Africa’s medical chief Dr. Angelique Coetzee described Omicron as a “storm in a teacup,” adding that she had only detected “very mild cases” of the variant so far. 

More or less, the virus panic created by health officials and governments is the equivalent of yelling fire in a crowded theater. The only result of mass panic is more public health restrictions that would limit freedoms. Europe has already imposed travel restrictions and partial/full lockdowns as infections increase.  

It has been pointed out that “Omicron” is an anagram of “moronic.”

Scientists are still examining Omicron, but it appears the current plan has been to create mass panic. For more on that, far-right British commentator Katie Hopkins describes the sheer terror manufactured by health officials and governments by their puppet media outlets. 

The markets were just as uncertain with big-tech stocks and cryptos seemingly reassured while bonds, the dollar, oil, and ‘recovery’ stocks anything but confident that Biden will keep his promise of “no new lockdowns”…

In equity land, Nasdaq saw the biggest gains on the day from the 1300ET early close on Friday. The Dow ended below its cash open level on the day, managing only modest gains as Small Caps went red twice during the day session…

Nasdaq was the only major index to erase all of the Omicron losses (but unable to extend beyond that)…

Rather interestingly, ‘recovery’ stocks did not ‘recover’ relative to the carnage from last week…

Source: Bloomberg

TWTR shares had a wild ride today after spiking in news that Dorsey was leaving and then fading as the new CEO’s history of activism confirmed nothing would change…

Vaccine makers were mixed today despite constant media attention on various pills and jabs and promises (they were all spooked a bit late on by new sthat another Federal judge had blocked Biden’s vax mandate)…

Source: Bloomberg

Bitcoin exploded higher overnight and extended gains during the day on Biden’s ‘no lockdowns’ comments, erasing all the Omicron losses…

Source: Bloomberg

The dollar bounced in the European session but was sold during the US session to end barely higher after Friday’s purge…

Source: Bloomberg

Bond yields were higher on the day but as the US day session started, Treasuries were bid and ended far closer to Friday’s low yields than its highs (the curve steepened on the day 2Y +2bps, 30Y +5bps)…

Source: Bloomberg

Perhaps most notable was the failed rebound in crude oil as WTI bounced up to $73 after one of the biggest daily drops in history on Friday, only to fade fast into the close back to a $68 handle…

Gold managed gains overnight, but after tagging $1800 once again, selling pressure pushed it back down…

Finally, STIRs did not jump on the “all-clear” bandwagon, extending Friday’s dovish retracement implying a later take-off for The Fed…

Source: Bloomberg

So who you gonna believe? Nasdaq momo or oil, short-term rates, bonds, and the dollar? Either way, we know what the solution is…

 

i)  MORNING TRADING//

end

EARLY AFTERNOOON

 

ii)  USA///DEBT

 

USA DATA

 

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

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

Big three automakers agree  not to mandate vaccines for UAW union members

(Sundance/Conservative Treehouse.com)

Big Three US Automakers Agree To Not Mandate Vaccines For UAW Union Members

 
SATURDAY, NOV 27, 2021 – 10:30 AM

Authored by ‘sundance’ via TheConservativeTreehouse.com,

big win for medical privacy and the principles of freedom. 

Ford, General Motors and Stellantis have agreed the United Auto Workers union members will not be forced to take the mandatory vaccine as a condition of employment.

Additionally, the vaccine status of the workers will remain private with a policy of private and voluntary disclosure.

UAW – At a meeting Monday evening, the COVID-19 Joint Task Force, comprised of the UAW, Ford, General Motors and Stellantis, has aligned on a policy of voluntary and confidential disclosure of vaccination status for UAW members. Each company will provide additional communication to employees on how, where and when to report their vaccination status.

In addition to encouraging members to disclose their vaccination status, the Task Force continues to urge all members, coworkers, and their families to get vaccinated and get booster vaccinations against COVID-19, while understanding that there are personal reasons that may prevent some members from being vaccinated, such as health issues or religious beliefs.

After reviewing the status of CDC and OSHA guidelines, the Task Force also decided it is in the best interest of worker safety to continue masks in all worksites at this time. (read more)

This helps swing the pendulum back toward the American worker.

iii) important USA economic stories

 

iv) Swamp commentaries/

Sens. Cruz, Paul Blast “Astounding Authoritarian” Fauci For “I Am Science” Claim

 
MONDAY, NOV 29, 2021 – 10:15 AM

Authored by Steve Watson via Summit News,

Responding to Anthony Fauci again declaring that he represents science, Senators Ted Cruz and Rand Paul blasted the “hubris” of ” an unelected technocrat,” warning that he has “distorted science” in order to exert “authoritarian control.”

Fauci appeared on CBS News’ Face The Nation, and declared that “Anybody who spins lies and threatens and all that theater that goes on with some of the investigations and the congressional committees and the Rand Pauls and all that other nonsense, that’s noise.”

He further claimed “if you’re attacking me, you’re really attacking science,” adding “I mean, everybody knows that.”

It isn’t the first time that Fauci has essentially declared that he IS science.

Responding directly to Cruz suggesting Fauci needs to be prosecuted, the latter proclaimed “I have to laugh at that. I should be prosecuted? What happened on Jan. 6, senator?”

Both Cruz and Paul quickly responded:

Sen. Cruz went on to explain the facts…

(1) On May 11, Fauci testified before a Senate Committee that “the NIH has not ever and does not now fund gain-of-function research in the Wuhan Institute of Virology.”

(2) On October 20, NIH wrote they funded an experiment at the Wuhan lab testing if “spike proteins from naturally occurring bat coronaviruses circulating in China were capable of binding to the human ACE2 receptor in a mouse model.” That is gain of function research.

(3) Fauci’s statement and the NIH’s October 20 letter cannot both be true. The statements are directly contradictory.

(4) 18 USC 1001 makes it felony, punishable by up to 5 years in prison, to lie to Congress.

No amount of ad hominem insults parroting Democrat talking points will get Fauci out of this contradiction.

Fauci either needs to address the substance – in detail, with specific factual corroboration – or DOJ should consider prosecuting him for making false statements to Congress.

Others also weighed in on Fauci’s emperor vibes, with journalist Jeryl Bier noting “This is not helpful in any way. This is almost word for word something a cult leader would say. This persuades no one not already in his corner.”

*  *  *

end

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

The King Report November 29, 2021 Issue 6645 Independent View of the News
Covid-19: ‘selfish mask’ guest in quarantine hotel cross infection is Hong Kong’s first case of new coronavirus variant – The new variant, expected to be designated ‘Nu’, has been found to have 32 spike protein mutations, compared with the 13 to 17 seen in the Delta variant
https://www.scmp.com/news/hong-kong/health-environment/article/3157410/coronavirus-quarantine-hotel-guest-linked-cross

 

Heavily mutated coronavirus variant puts scientists on alert
Researchers are racing to determine whether a fast-spreading variant in South Africa poses a threat to COVID vaccines’ effectiveness
    The variant stood out because it contains more than 30 changes to the spike protein — the SARS-CoV-2 protein that recognizes host cells and is the main target of the body’s immune responses…
    “A burning question is does it reduce vaccine effectiveness, because it has so many changes,” says Aris Katzourakis, who studies virus evolution at the University of Oxford, UK…
https://www.nature.com/articles/d41586-021-03552-w

FT: Belgium confirms first European case of new Covid variant
https://www.ft.com/content/8245c992-4a4d-4110-b10c-b294c41d501c

COVID-19 variant B.1.1.529: Here’s what we know (Dr. Malone calls this a ‘good summary’)
Variant has high number of spike mutations that could affect transmissibility
3- The variant has a high number of spike mutations that could affect transmissibility and immune response, Ravindra Gupta, a professor of clinical microbiology at the University of Cambridge, said…
5- The new variant is considered the most significant one yet and scientists are working to see if it renders vaccines less effective.
6- One scientist described the mutation as “horrific” in an interview with the BBC…
9-The WHO is meeting on Friday to determine if the mutation is a variant of interest. The variant could be named nu.    https://www.foxnews.com/health/covid-19-variant-b-1-1-529-heres-what-we-know

Pfizer said it could produce a vaccine for Nu in 100 days.  PFE jumped as much as 6.8%.

Merck’s COVID-19 pill shows lower efficacy in updated data https://t.co/HWUXFyDiUq
(Vaccines have half the efficacy as initially proclaimed.  Seems to be a pattern developing!)

The usual suspects are already asserting that the new Covid Variant will prevent the Fed from tapering for the foreseeable future – and if economic activity recedes, more QE will be needed.  Of course, if supply-chain disruptions intensify the economy will recede; but inflation could increase.

@WSJLogistics: Hundreds of thousands of empty shipping containers are piled up in Southern California, tying up scarce trucking equipment as they wait for ocean carriers to take them back to factories in Asia   https://t.co/W3yOn3hi6r

@nytimes: Stocks and oil prices tumbled globally after evidence of a new coronavirus variant detected in South Africa prompted new travel restrictions, reigniting concerns about the pandemic’s economic toll. https://t.co/AorDaOa1Io 

Full statement: WHO classifies B.1.1.529 as a variant of concern and names it Omicron
Preliminary evidence suggests an increased risk of reinfection with this variant, as compared to other VOCs…this variant has been detected at faster rates than previous surges in infection, suggesting that this variant may have a growth advantage…  https://www.ragex.co/post/covid-omicron

Why did the WHO jump to omicron?  The letter after nu in the Greek Alphabet is xi (Ξ).  Can you image the delicious irony and ridicule for China Dictator Xi if a Covid variant was named ‘Xi’?

@disclosetv: U.S. bans travel from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique, and Malawi amid Omicron variant starting Monday.

@JoeBiden: Trump further diminished the U.S. in the eyes of the world by expanding his travel ban. This new “African Ban,” is designed to make it harder for black and brown people to immigrate to the United States. It’s a disgrace, and we cannot let him succeed.  February 1, 2020

Biden’s past criticism of COVID travel bans boomerang as he imposes his own
Biden derided Trump as ’xenophobic’ and argued travel bans wouldn’t ‘stop’ pandemic in 2020.
https://justthenews.com/accountability/political-ethics/bidens-past-criticism-covid-travel-bans-boomerang-he-imposes-his

The Big Guy late on Friday afternoon: “I have talked to the Fed about a whole range of things from monetary policy to inflation, and I have confidence that the appointees I’ve made, and I’m going to have three more, are going to reflect that concern.”
German Health Minister Calls For “Massive Contact Restrictions” To Fight COVID
German Health Minister Jens Spahn has urged the incoming government to take drastic measures after more than 76,000 new Covid infections were reported within a day, saying the situation was “more serious than any other time in this pandemic.”…
https://www.zerohedge.com/covid-19/german-health-minister-calls-massive-contact-restrictions-fight-covid

Two cases of Omicron Covid in UK: PM will hold press conference this afternoon (Saturday) https://trib.al/JXH3tUO

‘Unusual’ symptoms of mutant Covid strain: South African doctor who first raised alarm about Omicron warns its early signs are ‘MILD’ and patients do NOT lose their sense of smellbut instead presented with unusual markers like intense fatigue and a high pulse rate…‘Their symptoms were so different and so mild from those I had treated before,’ Dr Coetzee told The Telegraph…
https://www.dailymail.co.uk/news/article-10251019/South-African-doctor-says-Omicron-symptoms-unusual-patients-NOT-lose-sense-smell.html

@stacey_rudin: They’re starting to make mistakes. WHO just said that “Omicron” was first reported by South Africa on 11/24/21. However, WEF reported this EXACT same “variant”—B.1.1.529, out of South Africa—way back in July. Oops.  https://weforum.org/agenda/2021/07
     WEF, 12 July 2021: “Scientists in South Africa have discovered a small number of cases of a new COVID variant. They’re working to understand its implications/told a news conference that it had a ‘very unusual constellation’ of mutations.”  They’re literally recycling panic news
     This is an actual, blatant, documented, irrefutable lie by WHO. “The B.1.1.529 variant was first reported to WHO from South Africa on 24 November 2021.”  See July 12, 2021 WEF publication documenting South Africa’s report of the *exact same* variant.

WEF: Explainer: This is how scientists detect new variants of COVID-19    12 Jul 2021
Scientists in South Africa have discovered a small number of cases of a new COVID variant. They’re working to understand its potential implications but told a news conference that it had a ‘very unusual constellation’ of mutations.  They’re concerned that they could help it evade the body’s immune response and make the variant – named B.1.1.529 – more transmissible…
https://www.weforum.org/agenda/2021/07/how-scientists-detect-new-covid-19-variants/

Biden’s Covid Death Milestone – WSJ Editorial Board
More Americans have died of the virus in 2021 than in all of 2020.
‘It would seem that Mr. Biden has done no better than Donald Trump in defeating Covid despite the benefit of vaccines, better therapies, and more clinical experience.’… https://t.co/77EEfmDvxW

@PollsandOdds Big Data Poll: President Biden Approval: Approve 40%, Disapprove 59%; Economy and Jobs: Approve 39%, Disapprove 59%; Coronavirus pandemic: Approve 43%, Disapprove 54%; Immigration/Border Security: Approve 32%, Disapprove 65%
https://application.marketsight.com/app/ItemView.aspx?SharedFor=director%40bigdatapoll.com&SharedBy=34090&id=f96d1498-3095-45bf-a519-adea0024b7f1

The Big Guy’s best poll numbers prior to his ratings plunge were in his handling of the Covid crisis.  But now, the public disapproves of Joe’s Covid policies.  This has The Big Guy and Dems, plus their media allies, in a box.  Covid fear was a key to removing Trump, instituting authoritarian directives, and passing the leftists’ radical domestic agenda.  If Team Obama/Biden/MSM keep playing the Covid fear card, Joe’s rating could fall further on ineffectiveness against Covid.  However, if Covid fear dissipates, the leftist agenda, mail-in voting and authoritarian directives could be finis.  European demonstrations and protests over Covid restrictions have been escalating.  Resistance to authoritarian directives is increasing globally.  Is provoking Omicron fears a means to buttress Biden/other world leaders and to regain psychological control over the masses? 

Ex-Special Forces officer @TimKennedyMMA: Some of the largest protests in history are happening in Rome, France, Melbourne, and all over the world… You aren’t seeing them for a reason.

Fauci says U.S. should prepare to do anything and everything to fight the omicron variant https://t.co/YQRQOOiqsV

@TheBabylonBee: Dr. Fauci Predicts At Least 3 More COVID Variants May Be Required to Completely Break America’s Spirit
https://babylonbee.com/news/dr-fauci-predicts-at-least-3-more-covid-variants-may-be-required-to-completely-break-americas-spirit

On Sunday (CBS’s Face the Nation), Fauci proclaimed, “I represent science.”  Social media went berserk.
https://justthenews.com/politics-policy/coronavirus/fauci-escalates-feud-gop-senators-declaring-i-represent-science

GOP Sen. @tedcruz: Fauci is an unelected technocrat who has distorted science and facts in order to exercise authoritarian control over millions of Americans.  He lives in a liberal world where his smug “I REPRESENT science” attitude is praised. Here are the facts:
https://twitter.com/tedcruz/status/1465085973222600712

GOP Sen. @RandPaul: The absolute hubris of someone claiming THEY represent science. It’s astounding and alarming that a public health bureaucrat would even think to claim such a thing, especially one who has worked so hard to ignore the science of natural immunity.

@julie_kelly2: Peter Navarro said in an interview last week that he begged Trump to fire Fauci. Navarro says Mulvaney and others in the White House objected. Mulvaney won—and America is still cursed with this fraud. Trump made the decision, repeatedly, to keep Fauci in charge.

@HansMahn>https://news.yahoo.com/scientists-mystified-wary-africa-avoids-074905034.html

COVID rules are blamed for 23% dive in young children’s development: Disturbing study shows scores in three key cognitive tests slumped between 2018 and 2021… Face masks and other social distancing measures may in fact impede on children’s development, a new study executed by Brown University has found…
https://www.dailymail.co.uk/news/article-10247315/Face-masks-harm-childrens-development-Study-blames-significantly-reduced-development.html

Countries CLOSE borders amid Omicron crisis: Israel and Switzerland ban visitors while Spain blocks un-jabbed… https://t.co/VhUa5SzO4L

The Fed Balance Sheet: +$6.801B; MBS +$6.295B   https://www.federalreserve.gov/releases/h41/20211126/

@LanceRoberts: Global inflows into the markets has exceeded the inflows of the past 19-years combined.  If there is only one thing you need to watch, it is this.  If it just peaked, and reverses, such does not bode well for stock prices going forwardhttps://t.co/4dy5diOZT3

Biden’s New Federal Reserve Vice Chair is Married to his ‘Asia Tsar’ who Headlined a Conference for a Hunter Biden-Linked Chinese Foreign Influence Group.
Oh, and he was a “guest of honor” for the Confucius Institutes, too
     Lael Brainard – recently nominated as Joe Biden’s Federal Reserve Vice Chairman – controversially refused to label the Chinese Communist Party (CCP) a currency manipulator during her stint in the Obama administration and is married to Kurt Campbell, who has deep ties to Beijing’s foreign influence operations and propaganda organs…  https://thenationalpulse.com/news/biden-fed-chair-ties-to-ccp/

@WSJecon: Many economists are skeptical that efforts under way by the White House can meaningfully change the short-term path of inflation. “They don’t have any fantastic policy tool available to them.” https://t.co/D5yhjEDd6U

Black Friday shopping in stores drops 28% from pre-pandemic levels as shoppers spread spending throughout the season (Earlier buying on supply-chain fears)  Traffic at retail stores on Black Friday dropped 28.3% compared with 2019 levels, according to preliminary data from Sensormatic Solutions. Traffic was up 47.5% compared with year-ago levels…
https://www.cnbc.com/2021/11/27/black-friday-shopping-in-stores-drops-28percent-from-pre-pandemic-levels.html
The Big Guy vacationed in Nantucket for the Thanksgiving weekend at the estate of a private equity titan.  The MSM seemed pleased.  We are old enough to remember when the MSM blasted DJT for scheduling a round of golf on Thanksgiving – but Trump surreptitiously flew to visit the US troops in Afghanistan.

Ex-intel officer Michael P Pregent @MPPregent: Biden is a disposable president; his role is to do the unpopular. He is the perfect vessel for 3rd rail political issues. He’s oblivious to criticism…Biden’s unpopularity will have collateral damage.

Washington Post is blasted for claiming that Waukesha tragedy that killed six ‘was caused by an SUV’ – rather than suspect with long criminal history – The newspaper has been called ‘pathetic,’ ‘untrustworthy’ and ‘leftist’ over their word choice…
https://www.dailymail.co.uk/news/article-10243585/Woke-Washington-Post-blasted-claim-Waukesha-tragedy-killed-six-caused-SUV.html

Exclusive book excerpt: How Facebook and Twitter rigged the game in 2020
In one meeting, Google founder Sergey Brin suggested that “Jigsaw,” a project Google had developed to combat Islamic terror propaganda, could be used to shape the opinions of Trump voters. By the time Trump was inaugurated, a former Google engineer had told Breitbart reporter Allum Bokhari that activists within the company had formed a working group to brainstorm ways to use Google’s resources to undermine the Trump administration… much of Silicon Valley’s anger over Trump’s victory was about their inability to control American opinion.  In the past two elections, the tech industry had loudly and publicly taken credit for helping Obama’s two victorious campaigns…  https://t.co/nIem8OFyXU

Black Lives Matter raises eyebrows with ‘stolen land’ Thanksgiving hot take
Black Lives Matter’s Thanksgiving tweet sparked backlash on social media
    “You are eating dry turkey and overcooked stuffing on stolen land,” BLM’s national arm wrote on Twitter Thursday. The post included a graphic repeating the “stolen land” claim…
https://www.foxnews.com/politics/black-lives-matter-stolen-land-thanksgiving-hot-take

North Dakota man who attacked Republican US Senator’s office with axe: ‘I am Antifa’
A far-left North Dakota man who was convicted in federal court for attacking a Republican US senator’s office with an axe has ties to Antifa… In April, he pleaded guilty to a charge of destruction of government property. Federal sentencing guidelines suggested 10–16 months in prison but he was only
sentenced to probation and fined $2,784 for restitution… (Jan. 6 protesters are in jail for trespassing!)
   Starks has also called for violence and has spread Antifa propaganda while posting under the Facebook moniker, “Paul Dunyan,”… Back in July as Starks was awaiting sentencing, he wrote: “I am ANTIFA…
   Despite Starks’ violent extremism, mainstream Democrats in North Dakota have expressed support for him throughout the year… Starks is a member of the socialist Nonpartisan League Party and has campaigned with them at events… (Jan 6. protesters without violent histories are in jail for much less!)
https://thepostmillennial.com/north-dakota-man-axe-antifa

@TaylerUSA: It would be a shame if this video of @CapitolPolice brutalizing a protestor on January 6th went viral…  https://twitter.com/TaylerUSA/status/1464475215845597187

The Ghislaine Maxwell trial begins today.  There will be no TV, unlike trials that divide Americans.

@JackPosobiec: The lead prosecutor in the Ghislaine Maxwell case is Maurene Comey.  She is the daughter of James Comey.  The federal judge over the Ghislaine Maxwell case is Alison Nathan, an Obama appointee who worked as a special assistant and counsel in the Obama White House.  Judge Nathan has granted Ghislaine Maxwell’s request that evidence in the trial be redacted to hide ‘sensational and impure’ information.  One week before the trial began, Chuck Schumer and Joe Biden nominated Judge Nathan to higher office in the US 2nd Circuit Court of Appeals.

end

 
Let us wrap up the week as always with this offering courtesy of Greg Hunter interviewing Karen Kingston

CV19 Booster Shot Also a Bioweapon – Karen Kingston

CV19 Booster Shot Also a Bioweapon – Karen Kingston

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Karen Kingston is a biotech analyst and a former Pfizer employee who has researched and written about many cutting edge pharmaceutical issues.  Kingston thinks that Covid 19 and the so-called vaccines and boosters are here to stay for a long time.  Kingston explains, “The reason why it keeps going is because Covid 19 is now a multi-trillion dollar industry many times over that has been forecasted out for the next ten years and beyond.  I do have numerous business plans that have been put up on numerous biotech industry websites.  I am in the mecca of the biotech industry.  I am in San Diego, and most people do not know we are the biotech industry of the world.”

Kingston says there are untold billions of dollars being invested into CV19 injections.  Just one fund alone has already invested a half billion dollars into research, and Kingston points out, “There is a $500 million fund that has a partnership with Qualcomm that will map out all the genetic variations of Covid 19.  Covid 19 is really just code for human beings, and they want to map out our genetic makeup.  So, if Covid 19 goes away, where does the half billion dollar project go? . . . They just announced here in Carlsbad, California, that they are going to create a new manufacturing facility to produce 600 million rapid Covid 19 tests a year.  If Covid 19 goes away, where does that manufacturing facility and the billion dollar a year company go?  These are just two small examples of tens of thousands of examples.  So, that’s why it’s not going away. . . .That’s why there are such strong mandates for our schools and for our city and state employees. . . . 740 of the 1,850 police here in San Diego are not vaccinated and don’t want to be.  Mayor Todd Gloria gave them two choices:  You can surrender your body to be injected with this biological agent, or you can surrender your badge and gun.  I gave the police a third option which was arrest the Mayor.”

Kingston says the CV19 so-called vaccines are not vaccines but bioweapons and goes on to say, “The hot water that Pfizer is in is they never demonstrated anything even remotely being a vaccine, and their mechanism of action is defined by the FDA under viral gene-based therapy, which is what it is.  They met no criteria as a vaccine.  On top of that, the FDA has approved other products in this category for cancer treatments.  So, if there is a serious attorney out there that wants to engage me and my analysts, this is actually a big case.  Pfizer broke their (liability) shield, and the FDA was grossly negligent.  The data is right there to show you this goes beyond false and misleading labeling and off-label claims . . . . They told doctors that this was a vaccine–when it’s not.”

Dr. Fauci now claims that a booster is “essential” for protection against CV19.  Does Kingston recommend a CV19 booster shot?  Kingston warns, “I don’t think anyone should inject themselves with a bioweapon, so, no.  I also think nobody should have the right to inject their children with a bioweapon.  This is a firm No.  This has to stop. . . . If I did not have any bad reactions (from the CV19 injections), I would drop to my knees and thank God. . . . I would pray for forgiveness that I was deceived.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with biotech analyst Karen Kingston as she warns people NOT to get the bioweapon booster shot.

 
 
Well that is all for today
 
 
 
 

I will see you TUESDAY night.

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