DEC 3//COMEX GOLD AND COMEX SILVER OPEN INTEREST TOTALLY COLLAPSE AS BANKERS COVER THEIR SHORTS AHEAD OF BASEL III//GOLD CLOSED UP $20.35 TO!782.30//SILVER ADVANCES 21 CENTS TO $22.51//COMEX GOLD STANDING 97.9 TONNES AFTER A 750,000 OZ QUEUE JUMP//SILVER OZ STANDING REVERSES TO 45 MILLION OZ AS WE HAVE 185,000 EFP TO LONDON//COVID UPDATES/VACCINE UPDATES: TRAGICALLY WE REPORT ON TWO DEATHS OF CHILDREN DUE TO VACCINATION//GERMANY SET FOR FURTHER LOCKDOWNS AS WELL AS MANDATORY VACCINATIONS: THAT WILL BE INTERESTING!//CHINA READY TO LOCK UP RARE EARTH DISTRIBUTION//CASES IN SOUTH AFRICA STRANGELY QUADRUPLE DESPITE THIS BEING SUMMER MONTHS FOR THEM//USA JOBS REPORT QUITE POOR DUE TO A STOPPAGE OF REVISIONS..HOWEVER NEXT MONTH IT WILL CONTINUE//SWAMP STORIES FOR YOU TONIGHT//

 

GOLD:$1782.60 UP $20.35   The quote is London spot price

Silver:$22.51  UP21  CENTS  London spot price ( cash market)

 
 
4:30 closing price
 
Gold $1783.45
 
silver:  $22.54
 
 
 
 

 

 
 

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

 

 

PLATINUM  $937.95 DOWN  $3.65

PALLADIUM: $1807.75 UP $21.35/OZ 

 

END

Editorial of The New York Sun | February 1, 2021

end

DONATE

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

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

receiving today

EXCHANGE: COMEX
CONTRACT: DECEMBER 2021 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,760.700000000 USD
INTENT DATE: 12/02/2021 DELIVERY DATE: 12/06/2021
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 280
072 H GOLDMAN 75
118 C MACQUARIE FUT 19
132 C SG AMERICAS 2
332 H STANDARD CHARTE 13
363 H WELLS FARGO SEC 10 7
624 C BOFA SECURITIES 1
657 C MORGAN STANLEY 42
661 C JP MORGAN 52 411
709 C BARCLAYS 31
732 C RBC CAP MARKETS 4
737 C ADVANTAGE 2
800 C MAREX SPEC 95 21
880 C CITIGROUP 3
880 H CITIGROUP 16
905 C ADM 122
____________________________________________________________________________________________

TOTAL: 603 603
MONTH TO DATE: 29,800

Goldman Sachs stopped:75

 

NUMBER OF NOTICES FILED TODAY FOR  DEC. CONTRACT: 603 NOTICE(S) FOR 60,300 OZ  (1.8755 tonnes)  

 

TOTAL NUMBER OF NOTICES FILED SO FAR THIS MONTH:  29,800 FOR 2,980,000 OZ  (92.690 TONNES) 

 

SILVER//DEC CONTRACT

9 NOTICE(S) FILED TODAY FOR  45,000   OZ/

total number of notices filed so far this month 8108  :  for 40,540,000  oz

 

BITCOIN MORNING QUOTE   $54,886 DOWN $1981 

 

BITCOIN AFTERNOON QUOTE.:53,528 DOWN $2229

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

GLD AND SLV INVENTORIES:

GLD AND SLV INVENTORIES:

Gold

WITH GOLD UP $20.35 AND NO PHYSICAL TO BE FOUND ANYWHERE:

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.85 TONNES FROM 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  986 ,17 TONNES OF GOLD//

Silver

AND WITH NO SILVER AROUND  TODAY: WITH SILVER UP 21 CENTS

A HUGE CHANGE  IN SILVER INVENTORY AT THE SLV:  A WITHDRAWAL OF 3.199 MILLION OZ FROM 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: 

 

544.803  MILLION OZ./SLV

xxxxx

GLD closing price//NYSE 166.63  UP 1.43 OR 0.85%

XXXXXXXXXXXXX

SLV closing price NYSE 20.85 UP. 0.16 OR  0.77%

XXXXXXXXXXXXXXXXXXXXXXXXX

 
 

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 
 
 

Let us have a look at the data for today

SILVER COMEX OI FELL BY A HUGE 5233 CONTRACTS TO 134,248, AND FURTHER FORM THE NEW RECORD OF 244,710, SET FEB 25/2020. DESPITE OUR SMALL $0.06 LOSS IN SILVER PRICING AT THE COMEX ON THURSDAYOUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN) )(IT FELL BY $0.06 AND WERE QUITE  UNSUCCESSFUL IN KNOCKING OUT ANY SILVER LONGSAS WE HAD A HUMONGOUS LOSS OF 4405 CONTRACTS ON OUR TWO EXCHANGES
 
WE  MUST HAVE 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 HUGE INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 47.535 MILLION OZ FOLLOWED BY TODAY’S 185,000 OZ EFP TO LONDON/    / v), STRONG SIZED COMEX OI LOSS//
 
 
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:
 
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI SILVER TODAY: CONTRACTS  –41
 
 
 
 
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
 
 
DEC
 
ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
 
5463 CONTACTS  for 3 days, total 5463 contracts or 27.315million oz…average per day:  1821 contracts or 9.105 million oz per day.

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

DEC:  27.315 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

NOV: 131.925 MILLION OZ

 

 
RESULT: WITH OUR 6 CENT LOSS SILVER PRICING AT THE COMEX// THURSDAY,WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5274
 
 
THE CME NOTIFIED US THAT WE HAD A  STRONG SIZED EFP ISSUANCE OF  828 CONTRACTS( 828 CONTRACTS ISSUED FOR MAR AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) 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 DEC OF 47.535 MILLION OZ FOLLOWED BY TODAY’S STRONG 185,000 EFP TO LONDON. MUCH NUMBERS OF PAPER LONGS LEFT THE SILVER ARENA TODAY. WE HAD A HUGE SIZED LOSS OF 4446 OI CONTRACTS ON THE TWO EXCHANGES
 
 
 
 
 

WE HAD 9 NOTICES FILED TODAY FOR 45,000 OZ

GOLD

IN GOLD, THE COMEX OPEN INTEREST FELL BY A HUMONGOUS SIZED 18,833  CONTRACTS TO 504,138 ,,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: 1830   CONTRACTS.

THE STRONG SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $19.80//COMEX GOLD TRADING//THURSDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR PHYSICAL ISSUANCE. WE HAD HUGE LONG LIQUIDATION  AS THE TOTAL LOSS ON OUR TWO EXCHANGES TOTALED A HUGE SIZED 17,463 CONTRACTS... WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR DEC AT 98.000 TONNES, FOLLOWED BY TODAY’S STRONG 72,500 OZ QUEUE JUMP//, NEW STANDING 3,147,900 OZ (97.912 TONNES) 
 
 
 
 
 

YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $19.80 WITH RESPECT TO THURSDAY’S TRADING

 

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

WE HAD  A HUGE SIZED LOSS OF 17,463  OI CONTRACTS (54.31 PAPER TONNES) ON OUR TWO EXCHANGES

 

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3200 CONTRACTS:

FOR FEB 3200  ALL OTHER MONTHS ZERO//TOTAL: 3200 The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 502,300. 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 HUMONGOUS SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES  OF 17,463 CONTRACTS: 20,663 CONTRACTS DECREASED AT THE COMEX AND 3200 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 17,463 CONTRACTS OR 54.31 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3200) ACCOMPANYING THE HUGE SIZED LOSS IN COMEX OI (20,663 OI): TOTAL LOSS IN THE TWO EXCHANGES: 17,463 CONTRACTS. WE NO DOUBT HAD 1) HUGE BANKER SHORT COVERING ,2.) HUGE INITIAL STANDING AT THE GOLD COMEX FOR DEC. AT 98.000 TONNES/FOLLOWED BY TODAY’S QUEUE JUMP OF 72,500 OZ////NEW STANDING OF 97.912 TONNES//.  3)HUGE LONG LIQUIDATION,4) HUGE  SIZED COMEX OI LOSS 5) FAIR 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

DEC

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 11,865, CONTRACTS OR 1,186,500 oz OR 37.21 TONNES (3 TRADING DAY(S) AND THUS AVERAGING: 3955 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 3 TRADING DAY(S) IN  TONNES: 37.21 TONNES

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

THUS EFP TRANSFERS REPRESENTS  37.21/3550 x 100% TONNES  1.704% 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:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.             37.21 TONNES//INITIAL ISSUANCE

 

 

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

 

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

1.Today, we had the open interest at the comex, in SILVER, FELL BY A HUMONGOUS SIZED 5274 CONTRACTS TO 134,207 AND  FURTHER FORM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  4 1/2 YEARS AGO.  

EFP ISSUANCE 828 CONTRACTS

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

MAR 828  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  828 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 5274 CONTRACTS AND ADD TO THE 828 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A HUGE SIZED LOSS OF 4446 OPEN INTEREST CONTRACT FROM OUR TWO EXCHANGES.

 

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 22.23 MILLION  OZ, OCCURRED DESPITE OUR SMALL  $0.06 LOSS IN PRICE. 

 

 

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

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

 

2 ) Gold/silver trading overnight Europe, Gold

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

 
 
 

3. ASIAN AFFAIRS

i) FRIDAY MORNING/THURSDAY  NIGHT: 

SHANGHAI CLOSED UP 33.60 PTS OR  0.94%     //Hang Sang CLOSED DOWN 22.24 PTS OR 0.09% /The Nikkei closed UP 276.20 PTS OR 1.00%     //Australia’s all ordinaires CLOSED UP 0.10%

/Chinese yuan (ONSHORE) closed UP  6.3711   /Oil UP TO 68.27 dollars per barrel for WTI and UP TO 71.54 for Brent. Stocks in Europe OPENED  ALL GREEN  /ONSHORE YUAN CLOSED  UP AT 6.3711 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3708/ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /TRADE DEAL NOW DEAD..TRUMP  RAISED RATES TO 25%/

 
 
 
 
3 a./NORTH KOREA/ SOUTH KOREA

NORTH KOREA//USA/OUTLINE

END

b) REPORT ON JAPAN

3 C CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

OUTLINE
 

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

GOLD

LET US BEGIN:

 

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A HUMONGOUS SIZED 20,663 CONTRACTS TO 502,300 MOVING FURTHER FROM 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 DECREASE OCCURRED WITH OUR STRONG LOSS OF $19.80 IN GOLD PRICING  THURSDAY’S COMEX TRADING.WE ALSO HAD A FAIR EFP ISSUANCE (3200 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. LOOKS LIKE OUR BANKERS ARE FINALLY BAILING OUT!!

 

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

 

(SEE BELOW)

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

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW MOVING TO THE  ACTIVE DELIVERY MONTH OF DEC..  THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3200 EFP CONTRACTS WERE ISSUED:  ;: ,  DEC  :  & FEB. 3200 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:   3200 CONTRACTS 

 

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

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUMONGOUS SIZED 17,463  TOTAL CONTRACTS IN THAT 3200 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST  COMEX OI OF 20,633 CONTRACTS..

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR DEC   (97.912),

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

NOV.  8.074 TONNES

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- NOV): 488.996 TONNNES

 

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $19.80)

AND THEY WERE QUITE SUCCESSFUL IN FLEECING HUGE NUMBERS OF LONGS AS THE TOTAL LOSS ON THE TWO EXCHANNGES REGISTERED A HUMONGOUS 54.31 TONNES,ACCOMPANYING OUR HUGE GOLD TONNAGE STANDING FOR DEC (97.912 TONNES)

 I  STRONGLY BELIEVE THAT OUR BANKER FRIENDS ARE GETTING QUITE NERVOUS.   THEY ARE LOOKING OVER THEIR SHOULDERS AND WITNESSING MASSIVE SILVER/GOLD SHORTAGES THAT CANNOT BE COVERED. THEY ARE TRYING TO FLEE IN HASTE “FROM DODGE”AS BASE III BEGINS JAN 1/2022 FOR EUROPEAN BANKS

WE HAD – 1830  CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET LOSS ON THE TWO EXCHANGES :: 17,463 CONTRACTS OR  1,746,300 OZ OR  54.31 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:  502,300 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 50.21 MILLION OZ/32,150 OZ PER TONNE =  15.61 TONNES

THE COMEX OPEN INTEREST REPRESENTS 15.61/2200 OR 70.98% OF ANNUAL GLOBAL PRODUCTION OF GOLD.

 

Trading Volumes on the COMEX GOLD TODAY 167,854 contracts//    ///volume poor////

 

CONFIRMED COMEX VOL. FOR YESTERDAY: 182,943 contracts//fair

 

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

 

DEC 3

 

/2021

 
INITIAL STANDINGS FOR DEC COMEX GOLD
 
 
 
 
 
 
 
 
 
 
 
 
 
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
 
48,226.500 oz
brinks
 
1500 kilobars
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit to the Dealer Inventory in oz
nil
OZ
 
 
 
 
 
 
 
 
 
 
 

 

Deposits to the Customer Inventory, in oz
 
 
 
 
nil
 
oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
603  notice(s)
60300 OZ1.8756 TONNES
No of oz to be served (notices)
1679 contracts
 
 167,900 oz5.222 TONNES
 
 
Total monthly oz gold served (contracts) so far this month
29,800 notices
 
2,980,000 OZ
92.890 TONNES
 
 
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
 
 
 
We had 0 deposit into the dealer
 
 
total deposit: nil   oz 
 

total dealer withdrawals: nil oz

we had  0 deposit into the customer account
 
TOTAL CUSTOMER DEPOSITS nil oz
 
 
 
We have 1  customer withdrawal
i) out of Brinks:  48,226.500
(1500 kilobars)
 
 
TOTAL CUSTOMER WITHDRAWALS 48,226.500 oz
(1500 kilobars)
 
 
 
 
 

We had 1  kilobar transactions 1 out of  2 transactions)

ADJUSTMENTS  1   dealer to customer

Brinks: 6673.453 oz 

 

 
 
 
For the front month of DECEMBER we have an oi 2282 stand for December. for a loss of 16,481
contracts.  We had 17,206 notices filed on THURSDAY so we gained A HUGE 725  contracts or an additional 72,500 oz will  stand for delivery in this very active delivery month of December.  It was quite a large queue jump for day 4 of the delivery cycle.
 
 
 
JANUARY GAINED 82 CONTRACTS TO STAND AT 2022
FEBRUARY LOST 5255 CONTRACTS DOWN  TO 406,800

We had 603 notice(s) filed today for 60,300  oz

FOR THE DEC 2021 CONTRACT MONTH)Today, 0 notice(s) were issued from JPMorgan dealer account and 52 notices were issued from their client or customer account. The total of all issuance by all participants equates to 603  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and  411 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 75  notice(s) received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the DEC /2021. contract month, we take the total number of notices filed so far for the month (29,800) x 100 oz , to which we add the difference between the open interest for the front month of  (DEC: 2282 CONTRACTS ) minus the number of notices served upon today  603 x 100 oz per contract equals 3,147,900 OZ OR 97.912 TONNES) the number of ounces standing in this active month of DEC.  

 

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

No of notices filed so far (29800) x 100 oz+   (2282)  OI for the front month minus the number of notices served upon today (603} x 100 oz} which equals 3,079,100 ostanding OR 97.912 TONNES in this  active delivery month of DEC. This is a huge delivery for December.

We gained a massive 725 contracts or an additional 72,500 oz will wish to stand for metal on this side of the pond.

 

TOTAL COMEX GOLD STANDING:  97.912 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:  1,678,251.983oz                                     52.20 tonnes

 

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 510.43 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS 97.912 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:

 

total registered or dealer  18,088,749.036 oz or 562.36 tonnes
 
 
 
total weight of pledged:1,678,251.983oz                                     52.20 tonnes
 
 
 
 
 
registered gold that can be used to settle upon: 16,410,498.0 (510.43 tonnes) 
 
 
 
 
true registered gold  (total registered – pledged tonnes 16.410,498.0 (510.43 tonnes)   
 
 
total eligible gold: 15,769,740.257 oz   (490.50 tonnes)
 
 
 
total registered, pledged  and eligible (customer) gold  33,858,489.293 oz or 1,053.14
tonnes
 (INCLUDES 4 GC GOLD)
 
 

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  926.80 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

DEC 3/2021

And now for the wild silver comex results

INITIAL STANDING FOR SILVER//DEC

Silver Ounces
Withdrawals from Dealers Inventory NIL oz
Withdrawals from Customer Inventory
1003.500  oz
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil
OZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory
1,781129.961 oz
JPMorgan
CNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
9
 
CONTRACT(S)
45,,000  OZ)
 
No of oz to be served (notices)
906 contracts
 (4,530,000 oz)
Total monthly oz silver served (contracts) 8108 contracts

 

40,540,000 oz)

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

total dealer deposits:  nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had 1 deposit into customer account (ELIGIBLE ACCOUNT)

i) into JPMorgan   579,762.500 oz
ii) Into CNT: 1,201,367.461oz
 
 

JPMorgan now has 181.176 million oz  silver inventory or 51.09% of all official comex silver. (181.176 million/354.601 million

total customer deposits today 1,201,367.461 oz

we had 1 withdrawals

i) out of Delaware: 1003.500 oz

 

total withdrawal 1003.500       oz

 

adjustments:  Brinks dealer to customer  100.36oz   
 
 
 
 
 

Total dealer(registered) silver: 99.188 million oz

total registered and eligible silver:  354.601 million oz

a net  0.583 million oz enters the comex silver vaults.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

For the front month of DECEMBER we have an amount of silver standing AT 915 CONTRACTS for a loss of 5029 contracts. We had 4992 notices filed on THURSDAY, so we lost 37 contracts or an additional 185,000 oz will not stand for delivery in this very active delivery month of December as they morphed into London based forwards and received a hefty bonus for not taking delivery over here (an EFP). And when they do  they were probably paid out in cash  in London.
 
 
 

JANUARY LOST 63 CONTRACTS TO STAND AT 2210

FEBRUARY LOST ANOTHER 52 CONTRACTS TO STAND AT 20 

 
NO. OF NOTICES FILED:  9  FOR 45,000   OZ.

To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at  8108 x 5,000 oz =40,540 oz to which we add the difference between the open interest for the front month of DEC (915) and the number of notices served upon today 9 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC./2021 contract month: 8099 (notices served so far) x 5000 oz + OI for front month of DEC (915)  – number of notices served upon today (9) x 5000 oz of silver standing for the DEC contract month .equals 45,070,000 oz. .

We lost 37 contracts or 185,000 oz were EFP’d over to London.

THIS IS STILL A  TERRIFIC INITIAL STANDING FOR DELIVERY FOR SILVER IN DECEMBER.

 

 

TODAY’S ESTIMATED SILVER VOLUME  25,046 CONTRACTS // volume poor  

 

FOR YESTERDAY 49,293 contracts  ,CONFIRMED VOLUME/ very poor/

 

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% (DEC 3/2021)

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   (DEC 3)/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

DEC 3/WITH GOLD UP $20.35 TODAY; A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.85 TONNES FROM THE GLD///INVENTORY RESTS AT 986.17 TONNES

DEC 2/WITH GOLD DOWN $19.80 TODAY; A HUGE  CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.83 TONNES FROM THE GLD///INVENTORY RESTS AT 990.82 TONNES

DEC 1/WITH GOLD UP $7.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 992.85 TONNES

NOV 30/WITH GOLD DOWN $8.70 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESS AT 992.85 TONNES.

NOV 29/WITH GOLD DOWN $3.40 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY 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:

 

DEC 3 / GLD INVENTORY 986.17 tonnes

 

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

DEC 3/WITH SILVER UP 21  CENTS TODAY; A BIG CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 3.199 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 544.803 MILLION OZ//

DEC 2/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 548.002 MILLION OZ.

DECM 1/WITH SILVER DOWN 44 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 740,000 OZ FROM THE SLV////INVENTORY RESTS AT 548.002 MILLION OZ//

NOV 30/WITH SILVER DOWN 3 CENTS TODAY; A SMALL CHANGES IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF .555 MILLION OZ FORM THE SLV//INVENTORY RESTS AT 548.742 MILLION OZ///

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.

 
 

DEC 3/2021  SLV INVENTORY RESTS TONIGHT AT 544.803 MILLION OZ

 

 

PHYSICAL GOLD/SILVER STORIES

PETER SCHIFF

 

end

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

 

end

 

ii) Important gold commentaries courtesy of GATA/Chris Powell

Alasdair Macleod: Turk’s ‘Money and Liberty’ explains what the former really is

 

 

 Section: Daily Dispatches

 

1:15p ET Thursday, December 2, 2021

Dear Friend of GATA and Gold:

GoldMoney research director Alasdair Macleod today reviews the new book by his colleague James Turk, “Money and Liberty — In the Pursuit of Happiness and the Theory of Natural Money”:

https://www.amazon.com/Money-Liberty-Pursuit-Happiness-Natural/dp/1739851110/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1638297242&sr=1-5%3Dkinwornew-20 

Macleod writes: “This book is aimed at investors to explain the essential nature of money, pointing out that if the monetary worst comes to the monetary worst, physical gold will be spent, not sold for profit. That gold is now $1,800 is not a measure of investment success — more a measure of the loss of purchasing power suffered by unbacked state currencies.”

Macleod’s review is headlined “James Turk’s New Book on Money” and it’s posted at GoldMoney here:

https://www.goldmoney.com/research/goldmoney-insights/james-turk-s-new-book-on-money

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

end

OTHER IMPORTANT GOLD///ECONOMIC COMMENTARIES

US Treasury: Just Another Snow Job

We have truth.. we have lies… then white lies. And then the snow job. According to Epictetus it is the wise man’s task to figure out which. Not much has changed since the time of Epictetus, especially when attempting to decipher the bizarre response by the US Treasury to a Congressman’s questions about US gold.

But first, before considering that response, there are a few notions about gold that the Treasury wants in popular public perception. First, the Treasury prefers that we forget about the gold stolen/hoarded by the US government since 1934. Next, double-think to accept that gold has no value greater than $42.20 per ounce (as the US government has valued gold since 1974) even though gold has traded above $1200 per oz for many years. Then, to believe that the US government does not trade or deal in gold, while actively hoarding it; for reasons that no commoner is supposed to question or consider. Finally, the US government somehow thinks eight metric tonnes of gold it holds (no one is sure, not even the government) gives the “global reserve currency” some intrinsic value, even though the last links between the dollar and gold were extinguished on August 15th, 1971.

Congressman Alex Mooney (R-WV) introduced HR 3256 The Gold Reserves Transparency Act of 2021 and asked the Treasury to comment on its gold holdings; where held; and why US gold is stored at the Treasury’s private contractor (Federal Reserve), and to what extent. He also asked whether the Fed is segregating international gold it admittedly holds from US gold. Mooney then asked about US gold that the IMF admittedly holds (261M ounces) ie where held, and why.

But Mooney’s most important question to the Treasury related to the Fed-Treasury’s dark pool slush fund, called the Exchange Stabilization Fundor ESF. The ESF is an above-top secret ‘crypto’ operation* where its activities are unaccountable. The ESF reports to no other government agency, no authority or governmental branch, and operates its slush fund (for whatever purpose) entirely in secret.

Mr Mooney’s questions to the Treasury were perhaps not too concerning, from what the Treasury must consider to be a lowly type. After all, Congress abdicated its monetary responsibility and sold out to the Fed decades ago. So, one Angel Nigaglioni, “Deputy Assistant Secretary for Appropriations” (whatever that may mean) was assigned to provide this rather bizarre and eminently duplicitous response to Mooney. Nigaglioni’s response seemed to relate more to innuendo than to the actual questions asked:

Beside telling Mooney to ask the Treasury’s private contractor for answers he seeks, Deputy Assistant Nigaglioni’s rather strange response states that the Exchange Stabilization Fund neither “possesses or uses” gold. That may be true. Because the ESF trades in gold. The ESF does not “use” or “possess” it. See how the Treasury performs its snow job here? Perhaps more like a blizzard. Confusion reigns, hiding the truth… it’s what our rulers are about, even if this deputy ruler has been in office for only one year.

Next, Deputy Assistant Nigaglioni waffles on with arcane language about seals and vaults, failing to reveal where any government gold is located. The Deputy Assistant says ‘custodial gold’ – which is undefined – is not “leased or swapped”. What gold is that? In whose “custody”? Where? Mr Nigaglioni, with such response, clearly illustrates how the US Treasury clouds the water, and avoids the truth.

Finally Deputy Assistant Nigaglioni states that the US Treasury and Mint do not engage in transactions with the Bank for International Settlements, or any other central banks, or governments. Well, Mr Deputy Assistant, no one submits that the Treasury or Mint does do that. It is the ESF and Fed FOMC that engage in such transactions, or otherwise condone or initiate them.

With the Deputy Assistant’s written response to Congressman Mooney, we may see the full extent of duplicity not just endemic within the US Treasury; it’s a classic case of a snow job. Mr Angel Nigaglioni has been on the Treasury snow job for only one year. The Deep Swamp private contractor his boss employs, has been on the take for over one hundred years. And his boss? Worse than the snow job, the US Treasury has been stealing from the public — first by out-sourcing the US monetary system to its private contractor, then by stealing gold from the public since 1934 — for just as long.

But Mr Nigaglioni is still young. He has plenty of time to learn to do the Treasury snow job, and much better.

*For many years the ‘crypto level’ of security has been the highest level within the federal government

Steve Brown

 

end

A new documentary on the corruption of the world financial system

 Section: Daily Dispatches

12:25p ET Friday, December 3, 2021

Dear Friend of GATA and Gold:

This week’s “Live from the Vault” report with London metals trader Andrew Maguire and Shane Moran of Kinesis Money calls attention to a new documentary film about the corruption of the world financial system, “The Paradigm of Money.”

The report interviews the documentary’s producer, Peter Antico, and its narrator, Sean Stone, and mentions GATA’s work.

The report is an hour long and can be viewed at YouTube here:

The report is an hour long and can be viewed at YouTube here:

https://www.youtube.com/watch?v=MTpsfEhOdSQ

OTHER COMMODITIES/LUMBER

 

END

 

 
CRYPTOCURRENCIES/
 
 

END

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

i) Chinese yuan vs usa dollar/CLOSED UP 6.3711  

 

//OFFSHORE YUAN 6.3708  /shanghai bourse CLOSED UP 33.60 PTS OR  0.94% 

 

HANG SANG CLOSED DOWN 22.24 PTS OR 0.09% 

 

2. Nikkei closed UP 276.20 PTS OR 1.00% 

 

3. Europe stocks  ALL GREEN

 

USA dollar INDEX UP TO  96;17/Euro RISES TO 1.1343-

3b Japan 10 YR bond yield: RISES TO. +.057/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 113.34/ THIS IS TROUBLESOME AS BANK OF JAPAN IS RUNNING OUT OF BONDS TO BUY./JAPAN 10 YR YIELD IS NOW TARGETED AT .11%/JAPAN LOSING CONTROL OF THEIR BOND MARKET//

 

3c Nikkei now JUST ABOVE 17,000

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

3e WTI:: 68.27 and Brent: 71.54-

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 UP for WTI and UP FOR Brent this morning

3i European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund RISES TO -.0.364%/Italian 10 Yr bond yield FALLS to 0.93% /SPAIN 10 YR BOND YIELD RISES TO 0.38%…ITALIAN 10 YR BOND YIELD/GERMAN BUND: 1.30: DANGEROUS FOR THE ITALIAN BANKING SYSTEM

3j Greek 10 year bond yield RISES TO : 1.21

3k Gold at $1772.80 silver at: 22.40   7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3l USA vs Russian rouble; (Russian rouble UP 12/100 in roubles/dollar) 73.53

3m oil into the 68 dollar handle for WTI and  71 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 113.34 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 .9193 as the Swiss Franc is still rising against most currencies. Euro vs SF 1.0397 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

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

3r the 10 Year German bund now NEGATIVE territory with the 10 year FALLING to 0.364%

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 1.432% early this morning. Thirty year rate at 1.753%

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

6.  TURKISH LIRA:  UP  TO 13.74..  EXTREMELY DEADLY

Futures Flat Ahead Of Taper Accelerating Payrolls

 
FRIDAY, DEC 03, 2021 – 07:55 AM

U.S. equity futures are flat, rebounding from an overnight slide following news that 5 “mild” Omicron cases were found in New York, and European stocks wavered at the end of a volatile week as traders waited for the latest jobs data to assess the likely pace of Federal Reserve tightening and accelerated tapering. Emini S&P futures traded in a narrow range, and were up 2 points or 0.04%, Nasdaq futures were flat,while Dow Jones futures were up 8 points. The dollar edged higher, along with the euro after ECB President Christine Lagarde said inflation will decline in 2022. Crude advanced after OPEC+ left the door open to changing the plan to raise output at short notice.

S&P 500 and Nasdaq 100 contracts fluctuated after dip-buyers Thursday fueled the S&P 500’s best climb since mid-October, a sign that some of the worst fears about the omicron virus strain are dissipating. That said, concerns about omicron are overshadowing economic news for now with “a lot of noise and very little meaningful information,” said Geir Lode, head of global equities at Federated Hermes in London. “The prospect of a faster monetary policy tightening could — and should probably — lead to a clear market reaction,” he said. “It is also another argument for why we assume value stocks outperform growth stocks. At the moment, however, investors’ attention is elsewhere.”

In the latest U.S. data, jobless claims remained low, suggesting additional progress in the labor market. Traders are awaiting today’s big event – the November payrolls numbers, which could shape expectations for the pace of Fed policy tightening (full preview here). Bloomberg Economics expects a strong report, while the median estimate in a Bloomberg survey of economists predicts an increase of 550,000.

“Assuming the omicron news remains less end-of-the-world, a print above 550,000 jobs should see the faster Fed-taper trade reassert itself,” Jeffrey Halley, a senior market analyst at Oanda, wrote in a note. “That may nip the equity rally in the bud, while the dollar and U.S. yields could resume rising.”

In premarket trading, Didi Global Inc. jumped more than 14% in U.S. premarket trading before reversing all gains, after the Chinese ride-hailing giant said it began preparations to withdraw from U.S. stock exchanges. U.S. antitrust officials sued to block chipmaker Nvidia’s proposed $40 billion takeover of Arm, saying the deal would hobble innovation and competition. Elon Musk’s offloading of Tesla Inc. shares surpassed the $10 billion mark as he sold stock in the electric-car maker for the fourth consecutive week. Here are some of the other biggest U.S. movers today:

  • DocuSign (DOCU US) plunges 32% in premarket trading as the e-signature company’s quarterly revenue forecast missed analysts’ estimates. JPMorgan and Piper Sandler cut ratings.
  • Marvell Technology (MRVL US) shares rise 18% in premarket after the semiconductor company’s fourth-quarter forecast beat analyst estimates; Morgan Stanley notes “an exceptional quarter” with surprising outperformance from enterprise networking, strength in 5G and in cloud.
  • Asana (ASAN US) shares slump 14% in premarket trading after results, with KeyBanc cutting the software firm’s price target on a reset in the stock’s valuation. Piper Sandler said that slight deceleration in revenue and billings growth could disappoint some investors.
  • Zillow Group (ZG US) shares rise 8.8% in premarket after the online real-estate company announced a $750 million share repurchase program and said it has made “significant progress” on Zillow Offers inventory wind- down.
  • Stitch Fix (SFIX US) jumped in premarket after Morgan Stanley raised its rating to equal-weight from underweight.
  • Smartsheet (SMAR US) rose in postmarket trading after the software company boosted its revenue forecast for the full year; the guidance beat the average analyst estimate.
  • National Beverage Corp. (FIZZ US) gained in postmarket trading after the drinks company announced a special dividend of $3 a share.
  • Ollie’s Bargain (OLLI US) plunged 21% in U.S. premarket trading on Friday, after the company’s quarterly results and forecast disappointed, hurt by supply-chain troubles.
  • Smith & Wesson Brands (SWBI US) stock fell 15% in postmarket trading after adjusted earnings per share for the second quarter missed the average analyst estimate.

In Europe, the Stoxx Europe 600 Index slipped as much as 0.2% before turning green with mining companies and carmakers underperforming and energy and utility stocks rising. Swedish Orphan Biovitrum AB fell as much as 26% after private-equity firm Advent International and Singapore wealth fund GIC abandoned their $7.6 billion bid to buy the drugmaker.

Volatility across assets remains elevated, reflecting the Fed’s shift toward tighter monetary settings and uncertainty about how the omicron outbreak will affect global reopening. The hope is that vaccines will remain effective or can be adjusted to cope. New York state identified at least five cases of omicron, which is continuing its worldwide spread, while the latest research shows the risk of reinfection with the new variant is three times higher than for others.

“The environment in markets is changing,” Steven Wieting, chief investment strategist at Citigroup Private Bank, said on Bloomberg Television. “Monetary policy, fiscal policy are all losing steam. It doesn’t mean a down market. But it’s not going to be like the rebound, the sharp recovery that we had for almost every asset in the past year.”

Earlier in the session, Asian stocks held gains from the past two days as travel and consumer shares rallied after their U.S. peers rebounded and a report said Merck & Co. is seeking to obtain approval of its Covid-19 pill in Japan. The MSCI Asia Pacific Index was little changed after climbing as much as 0.3%, with Japan among the region’s best performers. South Korea’s benchmark had its biggest three-day advance since February, boosted by financial shares. Still, Asian stocks headed for a weekly loss as U.S. regulators moved a step closer to boot Chinese firms off American stock exchanges. The Hang Seng Tech Index slid as much as 2.7% to a new all time low, as Tencent Holdings and Alibaba Group Holding fell after Didi Global Inc. began preparations to withdraw its U.S. listing. 

“While the risks of delisting have already been brought up previously, a step closer towards a final mandate seems to serve as a reminder for the regulatory risks in Chinese stocks,” said Jun Rong Yeap, a market strategist at IG Asia Pte. Asian stocks remain stuck near a one-year low, as the delisting issue damped sentiment already hurt by omicron and the Fed’s hawkish pivot. A U.S. payrolls report later today could give further clues on the pace of tightening

Japanese equities rose, paring their weekly loss, helped by gains in economically sensitive names. Electronics makers reversed an early loss to become the biggest boost to the Topix, which gained 1.6%. Automakers and banks also gained, while reopening plays tracked a rebound in U.S. peers. Daikin and Recruit were the largest contributors to a 1% gain in the Nikkei 225, which erased a morning decline of as much as 0.6%. The Topix still dropped 1.4% on the week, extending the previous week’s 2.9% slide, amid concerns over the omicron coronavirus variant. Despite some profit-taking in tech stocks in the morning session, “the medium and long-term outlooks for these names continue to be really good,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. “The spread of the omicron variant doesn’t mean an across-the-board selloff for Japanese stocks.”

India’s benchmark equity index recorded a weekly advance, partly recovering from a sharp sell-off triggered by uncertainty around the new Covid variant, with investors focusing on the central bank’s monetary policy meeting from Monday.  The S&P BSE Sensex fell 1.3% to 57,696.46, but gained 1% for the week after declining for two weeks. The NSE Nifty 50 Index dropped 1.2%, the biggest one-day decline since Nov. 26. All but three of the 19 sector sub-indexes compiled by BSE Ltd. fell, led by a gauge of energy companies.

“The focus seems to be shifting from premium Indian equities to relatively cheaper markets,” Shrikant Chouhan, head of retail equity search at Kotak Securities said in a note. The cautious mood in India was heightened by the “unenthusiastic” response to the IPO of Paytm, which was also the biggest public share sale in the country, and a resurgence of Covid concerns across Europe, he added.  Investors also focused on the country’s economic outlook, which is showing signs of improvement. Major data releases this week — from economic expansion to tax collection — showed robust growth.

“Strong domestic indicators are playing a key role in driving the market amid negative global cues,” said Mohit Nigam, a fund manager with Hem Securities. But any further spread of the omicron strain in India may cap local equity gains, he said. Two cases of the new variant have been detected so far in the country. The market’s attention will shift to the Reserve Bank of India’s policy announcement on Dec. 8, after a three-day meeting from Monday. The panel is expected to leave record low interest rates unchanged as inflation remains within its target range. The economy faces new risks from the omicron variant after expanding 8.4% in the three months through September. Reliance Industries contributed the most to the Sensex’s decline, falling 3%. Out of 30 shares in the index, 26 fell and 4 gained.

Australia stocks posted a fourth week of losses amid the Omicron threat even as the S&P/ASX 200 index rose 0.2% to close at 7,241.20, boosted by banks and miners. That trimmed the benchmark’s loss for the week to 0.5%, its fourth-straight weekly decline.  Corporate Travel was among the top performers, rising for a second session. TPG Telecom led the laggards, tumbling after media reports that founder David Teoh entered into an agreement to sell about 53.1 million shares in a block trade.  In New Zealand, the S&P/NZX 50 index was little changed at 12,676.50.

In FX, the Bloomberg Dollar Spot Index advanced and the greenback was higher against all of its Group-of-10 peers, with risk-sensitive Scandinavian and Antipodean currencies the worst performers. Turkish lira swings back to gain against the USD after central bank intervention for the 2nd time in 3 days. The pound weakened and gilt yields fell after Bank of England policy maker Michael Saunders urged caution on monetary tightening due to the potential effects of the omicron variant on the economy.

The euro fell below $1.13 and some traders are starting to use option plays to express the view that the currency may extend its drop in coming month, yet recover in the latter part of 2022. The Aussie dropped for a fourth day amid concern U.S. payroll data due Friday may add to divergence between RBA and Fed monetary policy. Australia’s sale of 2024 bonds saw yields drop below those in the secondary market by the most on record. The yen weakened for a second day as the prospects for a faster pace of Fed tapering fans speculation of portfolio outflows from Japan.

In rates, Treasury yields ticked lower, erasing some of Tuesday jump after Fed officials laid out the case for a faster removal of policy support amid high inflation.  Treasurys followed gilts during European morning, when Bank of England’s Saunders said the omicron variant is a key consideration for the December MPC decision which in turn lowered odds of a December BOE rate hike. Treasury yields are richer by up to 1.5bp across 10-year sector which trades around 1.43%; gilts outperform by ~1bp as BOE rate- hike premium for the December meeting was pared following Saunders comments. Shorter-term Treasury yields inched up, and the 2-year yield touched the highest in a week Friday’s U.S. session features a raft of data headed by the November jobs report due 8:30am ET where the median estimate is 550k while Bloomberg whisper number is 564k; October NFP change was 531k

Crude futures extend Asia’s modest gains advanced after OPEC+ proceeded with an output hike but left room for quick adjustments due to a cloudy outlook, making shorting difficult. WTI added on ~2.5% to trade near $68.20, roughly near the middle of the week’s range. Brent recovers near $71.50. Spot gold fades a small push higher to trade near $1,770/oz. Most base metals are well supported with LME aluminum and zinc outperforming. 

Looking at the day ahead, and the aforementioned US jobs report for November will be the highlight. Other data releases include the services and composite PMIs for November from around the world, Euro Area retail sales for October, and in addition from the US, there’s October’s factory orders and the November ISM services index. From central banks, we’ll hear from ECB President Lagarde and chief economist Lane, the Fed’s Bullard and the BoE’s Saunders.

Market Snapshot

  • S&P 500 futures little changed at 4,574.25
  • STOXX Europe 600 up 0.2% to 466.43
  • MXAP little changed at 192.06
  • MXAPJ down 0.5% to 625.64
  • Nikkei up 1.0% to 28,029.57
  • Topix up 1.6% to 1,957.86
  • Hang Seng Index little changed at 23,766.69
  • Shanghai Composite up 0.9% to 3,607.43
  • Sensex down 1.3% to 57,692.90
  • Australia S&P/ASX 200 up 0.2% to 7,241.17
  • Kospi up 0.8% to 2,968.33
  • Brent Futures up 3.3% to $71.97/bbl
  • Gold spot down 0.1% to $1,767.28
  • U.S. Dollar Index up 0.14% to 96.29
  • German 10Y yield little changed at -0.37%
  • Euro down 0.1% to $1.1286

Top Overnight News from Bloomberg

  • “I see an inflation profile which looks like a hump” and “we know how painful it is,” ECB President Christine Lagarde says at event Friday. She also said that “when the conditions of our forward guidance are satisfied, we won’t be hesitant to act” and that an interest rate increase in 2022 is very unlikely
  • The betting window is open in the fixed-income market as hedge funds and other traders hunt for mispriced risk heading into 2022 — whether it’s predictions for accelerating inflation or rising interest rates
  • The U.K. Municipal Bonds Agency aims to sell the first ethical bonds on behalf of local governments early next year. The body, set up to help U.K. councils access capital markets, is looking to issue a couple of sustainable bonds in the first quarter of 2022, according to officials advising on the sales. It expects to follow that with a pooled ethical bond to raise money for a group of different local authorities
  • Low- income countries indebted to Chinese commercial and policy banks could buy specially-created Chinese government bonds and then use these as collateral to support the sale of new yuan debt, Zhou Chengjun, head of the People’s Bank of China’s finance research institute, wrote in an article published in the ChinaBond Magazine
  • Chinese tech shares briefly touched their record lows in Hong Kong, as Didi Global Inc.’s announcement to start U.S. delisting and rising scrutiny on mainland firms traded there dealt a further blow to already soured sentiment
  • The yuan is set to weaken for the first time in three years in 2022, as capital inflows are expected to slow amid a shrinking yield gap between China and the U.S., a Bloomberg survey shows
  • Turkish inflation accelerated for a sixth month in November to the highest level in three years, driven by a slump in the lira that continues to cloud consumer price outlook

A more detailed look at global markets courtesy of Newsquawk

Asian equities eventually traded mostly higher following the cyclical-led rebound in the US, but with the mood in the region tentative as Omicron uncertainty lingered after further cases of the new variant were reported stateside and with the latest NFP data drawing near. ASX 200 (+0.2%) lacked direction as resilience in cyclicals was offset by underperformance in defensives and amid ongoing COVID-19 concerns which prompted the Western Australian government to widen its state border closure to include South Australia. Nikkei 225 (+1.0%) was initially subdued amid recent currency inflows and with SoftBank among the worst performers amid several negative headlines including the FTC suing to block the Nvidia acquisition of Arm from SoftBank, while the Japanese conglomerate also suffered from its exposure in “super app” Grab which tumbled 20% in its New York debut and with Didi to start delisting from the NYSE in favour of a Hong Kong listing, although the index eventually recovered losses in latter half of trade. Hang Seng (-0.1%) and Shanghai Comp. (+0.9%) were varied with US-listed Chinese companies pressured as the US SEC moved closer to delisting Chinese ADRs for failing to comply with disclosure requirements, while the mood across developers was also glum with Kaisa shares at a record low after its bond exchange offer to avert a default was rejected by bondholders and China Aoyuan Property Group slumped by double-digit percentages following its warning of an inability to repay USD 651.2mln of debt due to a liquidity crunch. Furthermore, participants digested the latest Caixin Services and Composite PMI data which slowed from the prior month, but both remained in expansion territory and with reports that advisors are to recommend lowering China’s economic growth target to 5.0%-5.5% or above 5%, fanning hopes for looser policy. Finally, 10yr JGBs gained and made another incursion above 152.00 with prices supported amid the cautious mood in Japan and with the BoJ also present in the market today for a total of JPY 1.05tln of JGBs heavily concentrated in 1yr-5yr maturities.

Top Asian News

  • Astra Said to Sink Advent’s $7.6 Billion Buyout of Biotech Sobi
  • BOJ Is Said to See Omicron as Potential Reason to Keep Covid Aid
  • Kaisa Swap Rejected, Developer Bonds Slide: Evergrande Update
  • Permira Is Said to Near Deal for U.K. Blood Plasma Lab BPL

The positivity seen heading into the European open dissipated as the session went underway, with the region seeing more of a mixed configuration in cash markets (Euro Stoxx 50 -0.1%; Stoxx 600 Unch) – with no clear drivers in the run-up to the US jobs report. The release will be carefully watching measures of labour market slack to gauge the progress towards the Fed’s ‘three tests’ for rate hikes, whilst the Fed appears almost certain to announce a quickening in the pace of asset purchase tapering at its December meeting (Full NFP preview available in the Newsquawk Research Suite). The recent downside in Europe also seeps into the US futures, with the RTY (-0.2%), NQ (-0.2%) and ES (-0.3%) posting broad-based losses as things stand. Sectors have shifted from the earlier firm cyclical layout to one of a more defensive nature, with Healthcare, Food & Beverages, and Personal & Household Goods making their way up the ranks. Travel & Leisure still sits in the green but largely owed to sector heavyweight Evolution (+6.3%) as the group is to acquire its own shares in Nasdaq Stockholm. Oil & Gas sits as the current winner as crude markets claw back a bulk of this week’s losses. On the flip side, Basic Resources are hit as iron ore tumbled overnight. In terms of individual movers, Dassault Aviation (+8.0%) shares soared after France signed a deal with the UAE worth some EUR 17bln. Allianz (+1.0%) stays in the green after entering a reinsurance agreement with Resolution Life and affiliates of Sixth Street for its US fixed index annuity portfolio, with the transaction to unlock USD 4.1bln in value.

Top European News

  • U.K. Nov. Composite PMI 57.6 vs Flash Reading 57.7
  • The Chance of a BOE Rate Hike This Month Has Fallen: BofA’s Wood
  • AP Moller Holding Agrees to Buy Diagnostics Company Unilabs
  • Permira Is Said to Near Deal for U.K. Blood Plasma Lab BPL

In FX, it’s debatable whether this month’s US jobs data will carry as much weight as normal given that Fed rhetoric in the run up to the pre-FOMC blackout period has effectively signalled a faster pace of tapering and the likelihood of more hawkishly aligned dot plots. However, the latest BLS report could be influential in terms of shaping the tightening path once QE has been withdrawn, as markets continue to monitor unfolding COVID-19 developments with the main focus on vaccine efficacy against the new Omicron variant. In the meantime, Buck bulls have resurfaced to lift the index more firmly back above 96.000 and towards loftier levels seen earlier this week within a 96.075-324 range, eyeing Monday’s 96.448 peak ahead of the semi-psychological 96.500 mark and then the w-t-d best at 96.647 set the day after. Back to Friday’s agenda, Fed’s Bullard is due to speak and the services ISM rounds off the week.

  • AUD/NZD – The high betas are bearing the brunt of Greenback gains, but also bearish technical forces as the Aussie and Kiwi both lose sight of key chart and simple round number levels that were keeping them afloat or declines relatively contained at least. Aud/Usd is now probing 0.7050 and a Fib retracement just above, while Nzd/Usd is hovering around 0.6775 as the Aud/Nzd cross holds in the low 1.0400 zone.
  • JPY/CAD/CHF/GBP/EUR – All softer vs their US counterpart, with the Yen looking towards 113.50 for support with added protection from option expiry interest up to 113.60 in 1.1 bn, while the Loonie is relying on WTI to maintain recovery momentum before Canada and the US go head-to-head in the employment stakes. Usd/Cad is meandering in the low 1.2800 area as the crude benchmark regains Usd 68+/brl status from a sub-Usd 66.50 base and even deeper trough below Usd 62.50 in knee-jerk response to OPEC+ sticking to its output plan yesterday. Elsewhere, the Franc continues to straddle 0.9200, Sterling has retreated from 1.3300+ terrain again post-fractionally softer than forecast final UK services and composite PMIs, whilst a less hawkish speech from BoE hawk Saunders took Cable to a session low of 1.3255 and a 15bps Dec hike pricing fell from 51% to 26%. The Euro has also reversed from recent highs beyond 1.1300 amidst rather mixed Eurozone readings and pretty routine ECB rhetoric from President Lagarde plus GC members Knot, de Cos and de Guindos.

In commodities, WTI and Brent front month futures continue to nurse losses seen earlier this week, with the post-OPEC downside completely erased alongside some more. To recap, oil contracts were under pressure from compounding COVID headlines at the start of the week and in the run-up to OPEC+ whereby ministers opted to keep production plans despite the Omicron variant and the recent SPR releases. Delving deeper into these themes, desks suggest that a dominant Omicron variant could actually be positive if the strain turns out to be milder than some of its predecessors – with the jury still out but initial reports from India and South Africa suggesting so. Regarding OPEC+, some oil traders suggest the move to maintain plans was more of a political strategy as opposed to an attempt to balance markets, with journalists also suggesting that tensions with the US have simmered down and the prospect of further SPR releases have significantly declined. Further, it’s also worth bearing in mind that due to maintenance and underinvestment, the real output hike from OPEC+ producers will likely be under the 400k BPD. In terms of Iranian developments, updates have been less constructive, with sources suggesting that Iran is holding a tougher stance than during the June talks. Negotiations will break today and resume next week. Crude contracts are modestly lower on the week and well-off worst levels, with Brent Feb now back around USD 71.50/bbl (65.72-77.02 weekly range), while WTI Jan resides around USD north of USD 68/bbl (62.43-72.93/bbl). Elsewhere, spot gold and silver vary, with the former finding some overnight support around USD 1,766/oz as risk sentiment erred lower, whilst the cluster of DMAs remain around the USD 1,790-91/oz region. In terms of base metals, LME copper is flat on either side of USD 9,500/t. Overnight, Dalian iron ore futures fell amid a decline in mill demand, whilst China’s steel hub Tangshan city is to launch a second-level pollution alert from December 3-10th, the local government said – providing further headwinds for iron demand.

US Event Calendar

  • 8:30am: Nov. Change in Nonfarm Payrolls, est. 550,000, prior 531,000
    • Nov. Change in Private Payrolls, est. 525,000, prior 604,000
    • Nov. Change in Manufact. Payrolls, est. 45,000, prior 60,000
  • 8:30am: Nov. Unemployment Rate, est. 4.5%, prior 4.6%
    • Nov. Underemployment Rate, prior 8.3%
    • Nov. Labor Force Participation Rate, est. 61.7%, prior 61.6%
  • 8:30am: Nov. Average Hourly Earnings YoY, est. 5.0%, prior 4.9%
    • Nov. Average Hourly Earnings MoM, est. 0.4%, prior 0.4%
    • Nov. Average Weekly Hours All Emplo, est. 34.7, prior 34.7
  • 9:45am: Nov. Markit US Composite PMI, prior 56.5
    • Nov. Markit US Services PMI, est. 57.0, prior 57.0
  • 10am: Oct. Factory Orders, est. 0.5%, prior 0.2%
    • Oct. Factory Orders Ex Trans, est. 0.6%, prior 0.7%
    • Oct. Durable Goods Orders, est. -0.5%, prior -0.5%
    • Oct. Cap Goods Ship Nondef Ex Air, prior 0.3%
    • Oct. Cap Goods Orders Nondef Ex Air, prior 0.6%
  • 10am: Nov. ISM Services Index, est. 65.0, prior 66.7

DB’s Jim Reid concludes the overnight wrap

I got great news yesterday. It was the school Xmas Fayre last weekend and at one stall we had to guess the weight of the school duck that lives in their pond. I spent a long time analysing it outside and was trying to mentally compare it to the weights of my various dumbbells at home. I learnt yesterday that I’d won. My prize? A rubber duck for the bath. In more trivial news I also learnt I was voted no.1 analyst in four categories of the Global Institutional Investor Fixed Income Analyst awards for 2021. So many thanks for all who voted. It is very much appreciated. However in terms of physical mementoes of my achievements yesterday, all I actually have to show for it is a brown rubber duck.

Guessing the weight of a duck is a walk in the park at the moment compared to predicting markets. Indeed it’s been a wild week. If you’ve managed to time all the various swings you can surely only have done it via a time machine. If you have done so without one though I will happily hand over my prized rubber duck. By the close of trade, the S&P 500 (+1.42%) had begun to recover following its worst 2-day performance in over a year. The VIX index of volatility ticked back down beneath the 30 mark again, but finished above 25 for the fourth day in five for the first time since December of last year. Meanwhile Oil plunged and then soared on OPEC+ news and curves continued to flatten as 2yr yields got back close to their pre-Omicron levels after a near 20bps round journey over the last week. I’m glad I’m a research analyst not a day trader, and that’s before we get to today’s payrolls print.

We’ll start with Omicron, where yesterday predictably saw a number of new countries report confirmed cases for the first time, as well as a second case in the United States during market hours, this one with roots in New York City, which reported more than 11,300 new cases yesterday, the highest daily count since January. After the market closed, an additional five cases were identified in New York, which sent futures over -0.5% lower at the time. They are back to flat as we type possibly helped by a late deal and vote in Congress to fund the US government through to February 18th and avert a shutdown at midnight tonight.

Back to the virus and governments continued to ramp up their defence measures, with Germany yesterday announcing a range of fresh restrictions as they grapple with the latest wave, including a requirement that you must either be vaccinated or have recovered from Covid in order to get into restaurants or non-essential stores. There’s also set to be a parliamentary vote on mandatory vaccinations, and incoming Chancellor Scholz said that he expected it to pass. In the US, President Biden announced new measures to fight the impending winter wave and spreading Omicron variant, including tighter testing guidelines for international visitors, wider availability of at home tests, whilst accelerating efforts to get the rest of the world vaccinated. Over in South Africa, the daily case count rose further yesterday, with 11,535 reported, up from 8,561 the previous day and 4,373 the day before that. So definitely one to keep an eye on as we look for clues about what this could mean for the world more broadly. That said, we’re still yet to get the all-important information on how much less or more deadly this might be, as well as how effective vaccines still are and the extent to which it is more transmissible relative to other variants.

Back to markets, and the revival in risk appetite led to a fresh selloff in US Treasuries, with the 2yr yield up +6.7bps, and the 10yr yield up +3.7bps. Nevertheless, as mentioned at the top, the latest round of curve flattening has sent the 2s10s slope to its flattest since before the Georgia Senate seat runoff gave Democrats control of Congress. It’s now at just +82.0bps, whilst the 5s30s slope is now at flattest since March 2020, at +55.0bps. So a warning sign for those who believe in the yield curve as a recessionary indicator, albeit with some way to go before that flashes red. In Europe there was also a modest curve flattening, but yields moved lower across the board, with those on 10yr bunds (-2.6bps), OATs (-3.2bps) and BTPs (-5.6bps) all down by the close.

Over in equities, there was a decent rebound in the US following the recent selloff, with the S&P 500 (+1.42%) posting a solid gain. It was a very broad-based advance, with over 90% of the index’s members moving higher for the first time since mid-October. Every S&P sector increased, which was enough to compensate for the noticeable lag in mega-cap shares, with the FANG index gaining just +0.15%. The STOXX 600 decreased -1.15%, though that reflected the fact Europe closed ahead of the big reversal in sentiment the previous session.

Aside from Omicron, one of the other biggest stories yesterday was the decision by the OPEC+ group to continue with their production hike, which will add a further +400k barrels/day to global supply in January. The news initially sent oil prices sharply lower, with Brent crude falling to an intraday low beneath $66/bbl, before recovering to end the day back at $69.67/bl in light of the group saying that they could adjust their plans “pending further developments of the pandemic”, with the ability to “make immediate adjustments if required”. Even with the bounceback yesterday however, oil has been one of the worst-performing assets over recent weeks, with Brent hitting an intraday high of $86.7/bbl in late-October, followed by a November that marked its worst monthly performance since the pandemic began.

Overnight in Asia stocks are trading mostly higher with the KOSPI (+0.86%), Shanghai Composite (+0.58%), CSI (+0.35%) and the Nikkei (+0.29%) up but with the Hang Seng (-0.74%) under pressure amid the ongoing regulatory clampdown in technology from China as Didi prepares to delist on US markets.

Looking forward now, the main highlight on today’s calendar is the US jobs report for November, which comes less than two weeks’ away from the Fed’s meeting where they’ll decide on the pace of tapering. In terms of what to expect, our US economists are looking for nonfarm payrolls to grow by +600k, which would be the fastest pace of job growth since July, and that in turn would take the unemployment rate down to a post-pandemic low of 4.4%. Ahead of that, we had another decent weekly claims report (albeit that took place after the jobs report survey period), with the number for the week through November 26 coming in at a stronger-than-expected 222k (vs. 240k expected). The previous week’s number was also revised down -5k, sending the 4-week moving average down to its own post-pandemic low of 238.75k.

Looking at yesterday’s other data releases, the Euro Area unemployment rate fell to a post-pandemic low of 7.3% in October, in line with expectations. However producer price inflation shot up even faster than anticipated to +21.9% (vs. 19.0% expected).

To the day ahead now, and the aforementioned US jobs report for November will be the highlight. Other data releases include the services and composite PMIs for November from around the world, Euro Area retail sales for October, and in addition from the US, there’s October’s factory orders and the November ISM services index. From central banks, we’ll hear from ECB President Lagarde and chief economist Lane, the Fed’s Bullard and the BoE’s Saunders.

3A/ASIAN AFFAIRS

i) FRIDAY MORNING/THURSDAY  NIGHT: 

SHANGHAI CLOSED UP 33.60 PTS OR  0.94%     //Hang Sang CLOSED DOWN 22.24 PTS OR 0.09% /The Nikkei closed UP 276.20 PTS OR 1.00%     //Australia’s all ordinaires CLOSED UP 0.10%

/Chinese yuan (ONSHORE) closed UP  6.3711   /Oil UP TO 68.27 dollars per barrel for WTI and UP TO 71.54 for Brent. Stocks in Europe OPENED  ALL GREEN  /ONSHORE YUAN CLOSED  UP AT 6.3711 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3708/ONSHORE YUAN TRADING BELOW 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

 

end

3 C CHINA

//CHINA//USA/DELISTING

USA close to delisting all Chinese companies from American exchanges if they refuse to open their books and abide by American auditing standards.

The correct. move…

(zerohedge)

SEC Moves Closer To Delisting Chinese Companies

 
FRIDAY, DEC 03, 2021 – 05:45 AM

Just yesterday, Beijing denied reports that it plans to block domestic Chinese firms from listing abroad (particularly in the US). Now, little more than a day later, the SEC is sharing its final plan for forcing Chinese firms to de-list from American exchanges should they refuse to open their books and abide by stringent American auditing standards.

The SEC has been plotting this for years now, inspired by the collapse of Luckin Coffee and a handful of other Chinese firms, which greatly irritated US regulators while triggering a mild populist backlash among investors. But Beijing hasn’t allowed a single domestic firm to list in the US since Didi’s ill-fated summer IPO, which preceded Beijing’s decision to punish the company by barring its apps from domestic app stores (although millions of Chinese users continue to use Didi). In response to criticisms that the CCP has actively worked to cover up corporate malfeasance by foreign-listed Chinese firms, the Party has insisted that Chinese firms would risk giving up trade secrets should they submit to American demands for better auditing.

It’s pretty clear that Beijing won’t allow any privately owned Chinese firms (all of which, remember, are still effectively controlled by the state) to provide the Americans with the insight they’re demanding.

For those who don’t remember, Luckin Coffee shares crashed to $0 in early 2020 after it was revealed that the ‘Starbucks of China’ fabricated $300MM in sales.

As we mentioned above, the SEC is planning to adopt a new rule mandating that foreign companies – mostly Chinese firms – open their books to US scrutiny, or risk being kicked off the New York Stock Exchange and Nasdaq within three years.

China and Hong Kong are the only two jurisdictions that refuse to allow these inspections, which have been required by Washington since 2002.

For nearly 2 decades, the US has tolerated the hold outs because Wall Street sees China as the biggest untapped market for American firms. But now, the leaders of the world’s two largest economies are butting heads. While much of the recent tension has focused on the shell companies that Chinese firms use to list in the US – entities known as VIEs, or variable interest entities, Thursday’s regulation dates back decades.

According to US rules, the firms must submit to audits by approved American auditors (ie the Big Four and a handful of other competitors), and then allow the audits to be reviewed by the PCAOB.

“If you want to issue public securities in the U.S., the firms that audit your books have to be subject to inspection by the Public Company Accounting Oversight Board,” SEC Chair Gary Gensler said in a statement. “While more than 50 jurisdictions have worked with the PCAOB to allow the required inspections, two historically have not: China and Hong Kong.”

During December 2020, Congress mandated that Chinese companies finally open their books and required the SEC to write rules for the companies that don’t comply.

Once it takes full effect, the rule will clear the way for some 200 Chinese firms to be booted from the top US exchanges.

end

China seems a little worried that it is losing control over the rare earth market.  It is believed that Beijing controls upwards to 90% of the market.

(zerohedge)

China Creates New State-Owned Mining Giant To Tighten Control Of Rare Earth Supplies

 
 
FRIDAY, DEC 03, 2021 – 12:16 PM

Now that aggressive foreign policy toward China has attracted bipartisan consensus, evidenced by the fact that President Biden has opted to keep certain tariffs imposed by the Trump Administration in place, Beijing is looking for new ways to squeeze Washington. For years now, we have been warning about the risk of China cutting off supplies of 17 rare earth metals critical for the production of tech gadgets.

Earlier this year, we reported that Beijing was keeping a rare-earth export ban in its “back pocket”. Now, it appears the CCP is moving to tighten state control over rare earth production so that they might more easily control who gets the metals.

Whereas rare earth metals were previously mined by six major Chinese firms, the CCP is merging assets from several state-owned firms to create China Rare Earth Group. The new mining giant will be based in resource-rich Jiangxi Province; it’s expected to allow Beijing more leverage over the supply, and by extension, the price, of these incredibly valuable commodities that are essential for the production of chips and other components used in high-tech products from computers to weapons systems.

China is believed to control up to 90% of global supplies of rare earth metals. Only a small number of rare earth mining operations exist outside China. As for where the rest are mined, the chart below offers some insight.

Some say China’s control over the global market for rare earths is diminishing, but the truth is this is only slightly true.

Infographic: China's Rare Earth Monopoly is Diminishing | Statista You will find more infographics at Statista

Washington has long worried that Beijing might use its control over rare earth supplies toward “strategic ends”, and WSJ reports that the this latest push to consolidate the industry comes at a time of “increased sensitivity” toward the West. Beijing has also cited environmental concerns, since opening new mines can irradiate entire neighborhoods.

The US has taken some steps to encourage more rare earth production in Australia, a staunch ally that has also recently curried Beijing’s wrath. Back in February, the US Defense Department signed a technology investment agreement with Australia’s Lynas Rare Earths which the Pentagon called “the largest rare earth element mining and processing company outside of China.” According to the terms of the deal, Lynas will establish a light rare-earth processing facility in Texas. President Biden has also issued an executive order naming rare-earth minerals as one of four key areas in need of more robust policy options to reduce supply-chain risks.

A visit in 2019 to a rare earth refinery by President Xi was seen by many as a sign that rare earth miners had finally “arrived”, to use vague economic parlance.

Beijing has been coy about its plans. ‘China has no intention to use rare earths as a countermeasure against any country,’ the state-run Global Times wrote earlier this year, However, it added that this remains an option when “foreign companies hurt China’s interests.”

 

4/EUROPEAN AFFAIRS

 
end
 
GERMANY
change in tone!! Germany locks down the unvaccinated as leaders are planning to make the shots compulsory
 

Germany locks down unvaccinated people, as leaders plan to make shots compulsory

Berlin (CNN)Germany on Thursday announced a nationwide lockdown for the unvaccinated, as its leaders backed plans for mandatory vaccinations in the coming months.

Unvaccinated people will be banned from accessing all but the most essential businesses, such as supermarkets and pharmacies, to curb the spread of coronavirus, outgoing Chancellor Angela Merkel and her successor, Olaf Scholz, announced Thursday, following crisis talks with regional leaders. Those who have recently recovered from Covid-19 are not covered by the ban.
The pair also backed proposals for mandatory vaccinations, which if voted through the parliament could take effect from February at the earliest.
Under the tightened restrictions, unvaccinated people can only meet two people from another household. Bars and nightclubs must shut down in areas with an incidence rate above 350 cases per 100,000 people over one week. And the country would limit the number of people at large events like soccer matches.
Acting Chancellor Angela Merkel and Olaf Scholz hold a press conference on tightened Covid-19 restrictions Thursday.
 
The announcement comes as Germany battles a surge in cases that has pushed Europe back to the epicenter of the pandemic, heightening fears over the newly discovered Omicron variant.
The press briefing is also Merkel’s last before she leaves office; a grim note to end her 16 years as German chancellor.
“We have understood that the situation is very serious and that we want to take further measures in addition to those already taken,” Merkel told reporters at Thursday’s news conference. “The fourth wave must be broken and this has not yet been achieved,” she added.
A nationwide vaccination mandate could come into effect from February 2022 — after it is debated in parliament and following guidance from Germany’s Ethics Council, Merkel said.
She added that vaccinated people will lose their vaccination status nine months after getting their last shot, apparently in an effort to encourage booster uptake.

Europe mulls mandates

If approved, Germany’s vaccine mandate would follow in the footsteps of neighboring Austria, which also plans to make inoculations for eligible adults compulsory from February.
Elsewhere, Greece announced that vaccines would be mandatory for people aged over 60 from mid-January. Those refusing to do so would face 100 euro (US $113) fines for each passing month, the government said Tuesday.
European Union Commission President Ursula von der Leyen said it was time to “potentially think about mandatory vaccination” within the bloc, as it faces the double onslaught of a fourth coronavirus wave and concerns over the Omicron variant discovered by South African health officials last week.
 
“Two or three years ago, I would never have thought to witness what we see right now, that we have this horrible pandemic, we have the vaccines, the life-saving vaccines, but they are not being used adequately everywhere,” von der Leyen told a press briefing Wednesday.
“How we can encourage and potentially think about mandatory vaccination within the European Union, this needs discussion. This needs a common approach but it is a discussion that I think has to be led,” she added.
Germany, much like Austria, has one of the lowest vaccination rates in western Europe, with 68.4% and 65.6% of their populations fully vaccinated respectively, according to the ECDC.

Surging cases

Germany continues to see a record-breaking number of cases, particularly in its eastern states. On Wednesday, the country recorded 446 Covid-19 related deaths — its highest number of daily deaths in nine months.
Many hospitals are struggling to cope with the increasing number of intensive care patients. There could be around 6,000 Covid-19 patients in intensive care by Christmas — regardless of any measures implemented by Germany’s leaders — the country’s Interdisciplinary Association for Intensive Care and Emergency (Divi) warned Wednesday.
Already, more than 102,000 people in Germany have died as a result of coronavirus, according to the Robert Koch Institute (RKI), the national disease and control center.
An earlier version of this story understated the amount of fully vaccinated people in Germany and Austria. This has been corrected.

END

EUROPEAN FOOTBALL/FANS

 
 

GERMANY//

*  *  *

END

AUSTRIA/

He is stepping down because of an investigation on firm for bribery

(Duchamps)

Austria’s Former Chancellor Sebastian Kurz Is Retiring From Politics At Age 35

 
FRIDAY, DEC 03, 2021 – 02:00 AM

By Lorenz Duchamps,

Austria’s former chancellor, Sebastian Kurz, announced on Thursday that he will step back from politics after serving about 10 years in government.

“I am looking forward to the new chapter ahead, but it has been the honor of my life to serve the Republic of Austria,” Kurz wrote on social media.

“I did not take this decision lightly but am leaving without any hard feelings.”

The 35-year-old former federal leader said during an unusually long statement to the media that he had put his job “above almost everything,” leaving little time for his family.

Kurz, who was one of Europe’s youngest leaders, noted that his enthusiasm for politics had become less over time, and the recent birth of his first child had motivated him to take the final step to quit politics.

“The past weeks and especially the birth of our son Konstantin a few days ago, have made me realize once again how many beautiful and important things there are outside of politics,” he said.

Kurz resigned as chancellor in October at the behest of his coalition partner, the Greens, after prosecutors announced that he was one of the targets of an investigation into suspected bribery and breach of trust, though he remained head of his People’s Party (OVP) and a lawmaker.

During Thursday’s news conference, Kurz acknowledged that he had made mistakes during his 10-year career, while also referring to the allegations made against him.

“I am neither a saint nor a criminal,” the politician said. “Now that there are legal accusations against me, I look forward to the day when I can prove in court that they are wrong,” he added.

Kurz, who was succeeded as chancellor by Alexander Schallenberg, has been the dominant and most polarising figure of Austrian politics since 2017 when he became OVP leader and then chancellor, winning a parliamentary election and forming a coalition with the Freedom Party (FPO).

Austrian Chancellor Alexander Schallenberg (OeVP) speaks during a press conference after a Corona crisis’ summit with the government and provincial governors in Vienna, Austria, on Nov. 14, 2021. (Georg Hochmuth/APA/AFP via Getty Images)

He led his party in two parliamentary elections in 2017 and 2019, becoming chancellor after both. But his time in government was mired in scandals including the graft investigation and his dismissal by parliament in 2019 after a video sting ensnared the then-leader of the FPO and their coalition collapsed.

Kurz said the OVP leadership would meet on Friday but did not endorse anyone to succeed him. Various Austrian media said Interior Minister Karl Nehammer is the best-placed candidate.

 

end

 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

TALIBAN//IRAN
 
 

END

RUSSIA/UKRAINE

 

end 

IRAN/ISRAEL/USA

 

end

TURKEY

 

end

6.Global Issues

CORONAVIRUS UPDATE//

They are starting to ask serious questions after several high profile soccer players experience heart problems.

(NaturalNews)

Questions swirl about COVID-19 vaccine injuries after several high-profile soccer players experience heart problems

 

Image: Questions swirl about COVID-19 vaccine injuries after several high-profile soccer players experience heart problems
 

(Natural News) Several high-profile soccer players have collapsed on the field recently with heart problems, prompting questions about whether COVID-19 vaccines could be to blame.

In the latest incident, Adama Traore, who plays for Sheriff Tiraspol, went down clutching his chest in Sheriff’s match against Real Madrid after a touchline challenge. The winger could be seen in video footage turning to walk away from the ball after it went out in the 77th minute when he suddenly appeared visibly uncomfortable, clutching his chest and slumping to the ground.

Although he remained conscious throughout the incident, he did not react strongly to smelling salts used by medics. He was eventually helped off of the field, and his team has not yet released details about the cause of his chest pains.

Another recent incident saw FC Barcelona striker Sergio Aguero being forced off the field with chest pains in his team’s 1-1 draw against Alaves. The 33-year-old Argentinian was subsequently diagnosed with a cardiac arrhythmia and has been ordered to take three months out of the sport to rest. Catalunya Radio reported that his issue is so serious that doctors have indicated he might need to consider retiring.

The player joined Barcelona this year and underwent a thorough physical upon his hiring, so it seems unlikely this was a pre-existing condition. Aguero appeared in an ad for the public health department of the Spanish region of Catalunya encouraging people aged 12 and older to get vaccinated against COVID-19.

He wrote on Twitter: “Given the rumours, I will say that I am following the advice of the club’s doctors, doing tests and treatment and seeing my progress during the next 90 days. Always positive.”

At Euro 2020 in June, Denmark midfielder Christian Eriksen collapsed on the field and suffered cardiac arrest. He was fitted with a defibrillator to correct irregular heart rhythms, but rules in Italy, where he plays for Inter Milan, ban people with the device from playing contact sports so he is unlikely to return next year.

Some fans report that Eriksen tweeted about getting a COVID-19 vaccine in the end of May, but the tweet has since been deleted and a team officials claims he was not vaccinated. There were some suggestions that he got the vaccine away from the team, but nothing has been confirmed. He is still recovering in Denmark.

In another incident, Icelandic midfielder Emil Palsson suffered cardiac arrest last month during a match in Norway’s second division and required resuscitation. The 28-year-old suddenly fell over at the 12-minute mark. After being resuscitated, he was carried off of the field and flown to a hospital for further exams and treatment.

COVID-19 vaccines linked to heart problems

Not surprisingly, “fact checkers” have been working overtime to claim there is no evidence that some of these incidents are directly linked to a COVID-19 vaccine. However, we do know that these vaccines can indeed cause heart problems.

The mRNA jabs from Pfizer and Moderna have been linked to myocarditis, a type of heart inflammation that can range in severity from mild to fatal. It is especially pronounced in younger people, particularly after getting their second dose of the vaccine. In one study, all cases occurred in males aged 20 and 32, none of whom had a history of heart problems. Nearly all of them reported chest pain one to five days after the vaccine. Myocarditis can also be caused by infections like COVID-19.

the following is a must view.  The person speaking is Roman Barber a conservative who was kicked  out of his party for speaking the truth.

END

please view.

you have to see this roman barber

 
 
 
 
 
END
 
this is an extremely important video by Dr Vernon Coleman

Most important video he made – Please promote

 
 
 
 
 
The FDA and Pfizer finally release some of their documents.  The first 500 pages show 42,000 adverse reactions.
(zerohedge)
 

Over 42,000 Adverse Reaction Reports Revealed In First Batch Of Pfizer Vax Docs

 
THURSDAY, DEC 02, 2021 – 04:20 PM

The FDA’s excruciatingly slowrelease of data related to Pfizer’s COVID-19 vaccine has already borne fruit, and it’s damning despite a trickle of just 500 pages per month out of 329,000 pages – which will take until 2076 to complete.

As first reported by Kyle Beckerthere were a total of 42,086 case reports for adverse reactions (25,379 medically confirmed, 16,707 non-medically confirmed), spanning 158,893 total events.

More than 25,000 of the events were classified as “Nervous system disorders.”

Since the vaccine has been publicly administered, there have been over 913,000 reports of adverse events in the OpenVAERS global database.

And that’s just what’s been reported.

Meanwhile, Twitter has suspended the account of @iGNORANTCHiMP – who brought much of this to light, and corrected minor inaccuracies within his thread.

end
 
This is interesting:
and explains why you must take at least 3000 iu of vitamin D
 

The following original statistical analysis suggests an important correlation factor, latitude

 

 

 

Total cases refer to all 2021 cases to 1 November. The correlation is 53% , statistically significant at p < 0.0001.  Black is Africa, Yellow is Asia, Green is Oceania, Red is Europe, Aqua is South America and Blue is North America.

 

This result supports the Vitamin D hypothesis.  High latitude countries such as Norway and Finland have public health policies of Vitamin D supplementation through food.  Low latitude countries such as Columbia, Panama and Costa Rica did the stupid thing of vaccinating the population, when they did not have to, like the Africa countries.

END

A JOKE!

FDA Expedites Review Process For Omicron Vaccines And Drugs

 
FRIDAY, DEC 03, 2021 – 08:05 AM

It’s been one week since the omicron variant first rattled markets and prompted the Federal Reserve’s latest rethink of its plans for rolling back its monetary stimulus. And in that time, vaccine-makers have talked their book by sharing plans to produce new omicron-targeted vaccines, while others claim that there are no data suggesting the Pfizer-BioNTech jab is less effective against omicron.

Assuming the world still does care about omicron three months from now (the first cases of the variant have only just been confirmed in the US in recent days), the FDA and its advisors are reportedly working on an expedited approval process that will allow “tweaked” versions of extant vaccines and remedies to be sheperded through in a matter of weeks.

WSJ reports that the FDA has been quietly meeting with drug makers to establish guidelines for expedited approval of the next generation of vaccines, if they’re needed (and that’s still a big “if”). According to the new rules the FDA is adopting, drugmakers are working on new vaccines and would be expected to meet standards similar to those required for authorization of boosters.

This means vaccine-makers would be spared the effort of conducting massive, time-consuming trials where they monitor a vaccine test group and a placebo group and wait to see which group reports fewer COVID casualties.

Instead, vaccine-makers could study the “immune response” elicited by the new jabs. Companies like Pfizer would have 3 months to create and test the jabs, with two or three weeks for the FDA to approve them.

Pfizer CEO Albert Bourla said this week that the company and its partner BioNTech could have the vaccines ready in 100 days, while Moderna has said the company can advance new candidates to clinical testing in 60 to 90 days.

Only three cases of omicron have been confirmed in the US, and fewer than 300 have been confirmed globally. Scientists are still trying to figure out whether new treatments are necessary to protect people from the variant, especially since South African scientists at the institute that first identified the new variant are saying that it produces milder infections than delta, especially in patients who have already been vaccinated.

A WHO spokesman said Friday that the agency hasn’t seen any deaths linked to the omicron variant just yet – a good sign.

Bottom line: while the FDA is doing everything in its power to make sure it’s prepared for omicron, at this point it’s not yet clear whether the world will still care about this latest “variant of concern” three months from now.

Vaccine  Impacts

“Sudden Deaths” of Children Under the Age of 12 Start Surfacing After COVID-19 Shots Approved for This Age Group

December 2, 2021 4:39 pm
The surge in “sudden deaths” now being reported on a daily basis has apparently begun in children under the age of 12, as children between the ages of 5 and 11 were recently approved for injections by the Pfizer COVID-19 shots. Unless a grieving parent works up enough courage to admit they made a mistake in letting their child get one of these bioweapon shots, and is willing to face the backlash that will certainly come from those in the Vaccine Cult, which will probably include their own family members, do not expect the media to even mention the COVID-19 “vaccination status” of these sudden deaths. Tragically, the two unexpected deaths of these children that we are reporting on today both happened on Thanksgiving Day last week.
 
end
Interesting, WHO claims that there is no evidence that booster jabs would offer greater protection.
They got that right
(zerohedge)

World Health Organization Says “No Evidence” Booster Jabs Would Offer “Greater Protection” To The Healthy

 
FRIDAY, DEC 03, 2021 – 09:25 AM

Authored by Paul Joseph Watson via Summit News,

The World Health Organization has questioned the UK government’s decision to roll out hundreds of millions of booster jabs to its population, asserting there is “no evidence” they would offer “greater protection” to the healthy.

UK Health Secretary Sajid Javid’s says the country has secured an additional 114 million vaccine doses for 2022 and 2023 to “buy time” and that everyone over the age of 18 will be offered one by the end of January.

Dr. Mike Ryan, head of the WHO’s emergencies program, questioned the logic behind this decision.

“Right now, there is no evidence that I’m aware of that would suggest that boosting the entire population would necessarily provide any greater protection for otherwise healthy individuals against hospitalization and death,” he said.

Ryan also noted that the UK was in a “luxurious position” of being able to offer booster shots to its entire population given that many poorer countries don’t even have even vaccines to give all their people one dose.

UK medical authorities have also seized upon the Omicron variant to insist that more children receive vaccines.

This is odd given that the variant has become noted for only causing “mild” symptoms in younger populations.

Experts argue that dismissing Omicron as “mild” is dangerous because South Africa has a very young population (average age 27) and we don’t know how it will impact older people.

They then say the solution is to vaccinate more younger people.

Makes total sense.

*  *  *

GLOBAL ISSUES/GLOBAL INFLATION ISSUES

Long term freight rates soaring!

(zerohedge)

While Short-Term Rates Flatline, Long-Term Ocean Freight Rates Are Soaring

 
THURSDAY, DEC 02, 2021 – 09:00 PM

Shippers looking to lock-in long term contracts for ocean freight are in for some serious sticker shock this month, according to shipping data consultancy Xeneta.

While some adherents to the now discredited “transitory” inflation camp point to the recent flatlining in short-term containership rates – or even decline in the case of core transpacific trades…

… long-term contract rates are still going up. According to Xeneta’s statistics compiled by the Maritime Executive websiteglobal average long-term contracted ocean freight rates went up by 16% in November alone, for a cumulative rise of 121% year-on-year. This follows after a record-setting increase of 28% in July, when all of the major shipping corridors saw significant long-term rate hikes.

“The continued perfect storm of high demand, maxed-out capacity, port congestion, changing consumer habits, and general supply chain disruption is fueling a rates explosion that, quite frankly, we’ve never seen the like of,” said Patrik Berglund, the CEO of Xeneta. “What’s more, it’s difficult to see a change of course ahead, with the fundamentals stacked very much in favor of the carrier community. In short, they’ve never had it so good, while many shippers, unfortunately, are well and truly on the ropes.”

The long-term rate hikes are most pronounced for routes to and from the United States. Xeneta calculated the increase for long-term import rates for the U.S. market at 39% for November, up 122 percent year-on-year. U.S. export rates also rose 9% for the month.

The soaring rates are driving tremendous profitability at the top container lines, many of which have doubled (or even tripled) their revenue year-on-year. Analysts with Blue Alpha Capital estimate that container lines took in a cumulative $48 billion in profit in the third quarter alone, and more than $100 billion over the first nine months of the year. This is more than the combined earnings of the last five years for the entire industry. According to third-ranked carrier CMA CGM, the fourth quarter may be even more profitable, and the first half of 2022 is looking strong as well.

“2021 will be a year to remember for carriers and one to forget, if that’s possible, for the shipper community,” said Berglund. “What lies ahead is unclear, but we can see there’s action planned to try and ease congestion at major US ports . . . while newbuilds, potential new players and the growing trend of shippers chartering their own vessels might [have an effect].”

 

end

Global food prices rises again, hitting new decade highs.

(zerohedge)

Global Food Prices Rise Again, Hitting New Decade High 

 
FRIDAY, DEC 03, 2021 – 02:45 AM

Global food inflation continues to rise for the fourth consecutive month in November, reaching levels not seen in a decade, led mainly by robust demand for wheat and dairy products, according to a new report via the Food and Agriculture Organization of the United Nations (FAO). 

FAO’s food price index, which tracks monthly changes in the international prices of food commodities, rose 1.2% to 134.4 in November from October, driven by continued demand for food. The index is up 27.3% YoY. 

Food prices remain at a decade high and have risen sharply since the beginning of the pandemic, driven by snarled supply chains, harvest setbacks, soaring farm costs, and high demand. 

Last month, increases in grains, dairy, and sugar were the primary driver in FAO’s food price index. Laggards were meat and vegetable oil. 

The FAO’s cereal price index averaged 141.5 points in November, up 3.1% from October and 23.2% from the same month last year. Wheat prices are at their highest level since May 2011 due to adverse weather conditions in Australia and potential changes to export rules in Russia.   

The dairy price index rose 4.1% to 125.5 points in November. Compared to last year, the index is up 19.1%. “Strong global import demand persisted for butter and milk powders as buyers sought to secure spot supplies in anticipating of tightening markets,” FAO said.

Sugar prices averaged 120.7 points in November, up 1.4% from October, reversing most of the previous month’s decline. Compared to last year, prices are up a stunning 40%. 

Vegetable oil and meat prices were slight down in November but were both up substantially over the year. 

The question central banks, governments, commodity traders, and households have on their minds is when do food prices reverse. To answer that question, Judy Ganes, the president of J. Ganes Consulting, recently told Bloomberg that rising food prices should continue into the second half of 2022. 

“We’re not seeing a turning point just yet, we’ll probably see it, my guess is the middle of next year. There’s a point where high prices are the best cure for high prices, there’s a point where its going to have to resolve itself,” Ganes said. 

She pointed out rising prices were due to a combination of factors, such as caps on migration, red hot labor market, labor shortages, adverse weather conditions, snarled supply, higher fertilizer prices, and soaring transportation costs.

Ganes said the end to several major droughts and increased rainfall in major producing regions means global food production in 2023-24 will be “much improved.” 

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

Federal Reserve Chair Jerome Powell had to retire the word “transitory” regarding the inflationary environment in an embarrassing move this week. Soaring food prices are unlikely to reverse in early 2022 and are crushing emerging market consumers and the working poor in developed countries. 

Almost one year ago, SocGen’s Albert Edwards pointed out rising food prices would lead to discontent and social instabilities in the weakest countries. 

 
LA PALMA VOLCANO ERUPTION
 
END
 

end

7. OIL ISSUES

Wow! this is a huge spike (1,290%)  Energy crisis emerges everywhere

(zerohedge)

Singapore Power Prices Spike 1,290% As Energy Crisis Emerges 

 
THURSDAY, DEC 02, 2021 – 11:40 PM

The global energy crisis continues to worsen with its latest victim Singapore. Power prices in the Southeast Asian country saw a dramatic surge in wholesale power prices. 

According to Bloomberg, provisional Uniform Singapore Energy Price jumped S$4,499 ($3,293) per megawatt-hour, the highest on record or about a 1,290% jump in the last few days. Just on Tuesday, prices were S$323.61 ($236.60). 

The dramatic price increase in wholesale power reflects the persistent global energy crisis. It doesn’t help when 95% of the country’s electricity is generated by burning natgas. All of the natgas is imported from neighboring countries.

With the Northern Hemisphere winter just weeks away, Singapore’s electricity prices are likely to remain elevated as natgas demand continues to strengthen across Europe and the rest of Asia, due in part to La Nina conditions producing unseasonably colder trends.

There’s word that limited gas supply from Indonesia has already resulted in turbine trips, or emergency shutdown of power generation turbines, at some Singapore power plants. 

Julius Wiratno, deputy for operations at Indonesia oil and gas regulator SKK Migas, told Bloomberg that gas flows from Indonesia to Singapore are at “minimum demand levels” as supply is limited.

“Almost all of the independent retailers were forced out of the market, leaving a significant number of consumers previously on fixed price tariffs at the mercy of the spot market,” Whistler said.

Singapore has resorted to bringing back combined-cycle gas turbine capacity in the event of more turbine trips to mitigate a collapse of its power grid. 

A spike in power prices might not have a tremendous impact on households, considering a majority of them are under fixed-rate contracts. Still, it could unleash pain for companies that tend to be on variable contracts. 

Considering Singapore’s power grid is mostly powered by natgas, we suspect this is not the last we’ll hear about soaring power prices as winter fast approaches. We first noted the energy crisis was going globale back in September. 

end

8 EMERGING MARKET& AUSTRALIA ISSUES

Australia////  NEW ZEALAND/ SOTH AFRICA/COVID/VACCINES/LOCKDOWNS

 

SOUTH AFRICA

South Africa going nuts as new COVID cases wither Omicron or Delta, quadrupled this week

(zerohedge)

South African COVID Cases Quadruple, Omicron Confirmed In 6th US State

 
FRIDAY, DEC 03, 2021 – 01:41 PM

While scientists continue to determine just how deadly, and how transmissible the new Omicron Covid strain is, it’s worth noting that South Africa has seen its new daily COVID cases quadruple in recent days, even if the vast majority of these new vases have only mild symptoms.

Whether it’s omicron or some kind of seasonal dynamic driving it, South Africa’s daily number of confirmed COVID cases almost quadrupled from Tuesday as the omicron variant spread across the country. The country recorded 16,055 infections in the last 24 hours and a positivity rate accelerated to 24.3% from 16.5% on Tuesday, according to the National Institute for Communicable Diseases.

A South African study of infections since the start of the pandemic found that the risk of reinfection from the omicron coronavirus variant is three times higher than for any previous strain.

Back in North America, the number of confirmed omicron cases in Canada has risen to 11.

A South African study of infections since the start of the pandemic found that the risk of reinfection from omicron is three times higher than for any previous strain.

Another 25 COVID deaths were reported in South Africa, bringing total fatalities to 89,944 to date. Hospitals reported an increase of 279 admissions in the past 24 hours, bringing the total to 3,202. In Gauteng each infected person on average is able to pass on the virus to another 2.33, according to the National Institute for Communicable Diseases. That’s a record rate, and any level over 1 means the virus’s spread is accelerating.

It’s not just Pfizer that’s scrambling to get a head start on its research into the omicron variants; the WHO said Friday that some 450 researchers from around the world are teaming up to isolate the highly mutated COVID strain, grow it in a slab, validate its genomic sequences.

The new strain’s rapid spread across South Africa has raised concerns that the omicron variant can more easily surpass vaccine protections.

“We welcome that because they will help us to prepare,” she said. “WHO is contacting each of the vaccine manufacturers and requesting from them information on their current plans to modify their vaccines, if they have any preliminary data, and the time line for the scaling up and implementation of the modifications.” –Bloomberg

As American authorities search for more cases of omicron, Bloomberg reported that NYC has a new problem: informing all 53K attendees of a recent anime convention at the Javits Center that they should strongly consider getting tested.

Omicron cases have been found in at least half a dozen states. Five cases have been found in New York State. One was found in California, another in Minnesota (after returning from NYC). And cases have been found in Hawaii, Nebraska and Colorado.

Finally, the President of Botswana told CNN in an interview that four diplomats who visited his country earlier in November were actually the first individuals to be carrying the omicron variant. President Mokgweetsi Masisi said some of the diplomats included Europeans. Botswana is home to the first case of omicron.

 

 

 

end

 

Euro/USA 1.1312 UP .0006 /EUROPE BOURSES //ALL GREEN

 

USA/ YEN 113.34  UP  0.319 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.3267  DOWN   0.0033 

 

USA/CAN 1.2821  UP 0.0003  (  CDN DOLLAR DOWN 3 BASIS PTS )

 

Early FRIDAY morning in Europe, the Euro IS UP by 6 basis points, trading now ABOVE the important 1.08 level RISING to 1.1312

Last night Shanghai COMPOSITE CLOSED UP 33.60 PTS OR 0.94%

 

//Hang Sang CLOSED DOWN 276.20 PTS OR  1.00%

 

/AUSTRALIA CLOSED UP 0.10% // EUROPEAN BOURSES OPENED ALL GREEN

 

Trading from Europe and ASIA

EUROPEAN BOURSES ALL GREEN 

 

2/ CHINESE BOURSES / :Hang SANG  CLOSED DOWN 22.24 PTS OR  0.09%

 

/SHANGHAI CLOSED UP 33.60  PTS OR 0.94%

 

Australia BOURSE CLOSED UP  0.10%

Nikkei (Japan) CLOSED UP 276.20 PTS OR 1.04 % 

 

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1772.20

silver:$22.36-

Early FRIDAY morning USA 10 year bond yr: 1.436% !!! DOWN 2 IN POINTS from THURSDAY night in basis points and it is trading WELL BELOW resistance at 2.27-2.32%.

The 30 yr bond yield 1.753 DOWN 1  IN BASIS POINTS from THURSDAY night.

USA dollar index early FRIDAY morning: 96,17  UP 1  CENT(S) from THURSDAY’s close.

This ends early morning numbers FRIDAY MORNING

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  FRIDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 0.29% DOWN 2  in basis point(s) yield from YESTERDAY/

JAPANESE BOND YIELD: +0.057% DOWN  2/10   BASIS POINTS from YESTERDAY/JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 0.37%//DOWN 0  in basis points yield from yesterday.

ITALIAN 10 YR BOND YIELD 0.93 DOWN 3    points in basis points yield from yesterday./

the Italian 10 yr bond yield is trading 56 points higher than Spain.

GERMAN 10 YR BOND YIELD: FALLS TO –..378% IN BASIS POINTS ON THE DAY//

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

END

IMPORTANT CURRENCY CLOSES FOR FRIDAY

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

Euro/USA 1.1296  DOWN .0009    or 9 basis points

USA/Japan: 113.11  UP 0.089 OR YEN OR DOWN 9  basis points/

Great Britain/USA 1.3228 DOWN 70   BASIS POINTS)

Canadian dollar UP 13 pts to 1.2820

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED UP)..6.3764  

 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)..6.3755

TURKISH LIRA:  13.72  EXTREMELY DANGEROUS LEVEL/DEATH WISH.

the 10 yr Japanese bond yield  at +0.057

Your closing 10 yr US bond yield UP 5 IN basis points from THURSDAY at 1.403 % //trading well ABOVE the resistance level of 2.27-2.32%) very problematic USA 30 yr bond yield: 1.723  UP 3 in basis points 

Your closing USA dollar index, 96.28  UP 12   CENT(S) ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 16.74 PTS OR 0.23% 

 

German Dax :  CLOSED DOWN 131.16 PTS OR 0.86% 

 

Paris CAC CLOSED DOWN 51.35 PTS OR  0.76% 

 

Spain IBEX CLOSED  DOWN 74.85  PTS OR 0.90%

Italian MIB: CLOSED DOWN 119.38 PTS OR 0.46%DOWN

WTI Oil price  67.89 12:00 PM  EST

Brent Oil:  71.42 12:00 EST

USA /RUSSIAN /   RUBLE FALLS:    73.84  THE CROSS HIGHER BY .19 RUBLES/DOLLAR (RUBLE LOWER BY 19 BASIS PTS)

TODAY THE GERMAN YIELD FALLS  TO –.378 FOR THE 10 YR BOND 1.00 PM EST EST

 

This ends the stock indices, oiL, currency crosses and interest rate closes for today 4:30 PM

Closing Price for Oil, 4:00 pm/and 10 year USA interest rate:

WTI CRUDE OIL PRICE 4:30 PM : 66.19

BRENT :  69.96

USA 10 YR BOND YIELD: …1.354  DOWN 9  basis points…

USA 30 YR BOND YIELD: 1.678 DOWN 9  basis points..

EURO/USA 1.1309  UP 0.0003   ( 3 BASIS POINTS)

USA/JAPANESE YEN:112.76 DOWN  0.258 ( YEN UP 26 BASIS POINTS/..

USA DOLLAR INDEX: 96.15  UP 0  cent(s)/

The British pound at 4 pm   Britain Pound/USA: 1.3238 DOWN .0062  

the Turkish lira close: 13.73  DOWN 10 BASIS PTS//

 

the Russian rouble 73.84  DOWN 0.19  Roubles against the uSA dollar. (DOWN 19 BASIS POINTS)

Canadian dollar:  1.2837 DOWN 19 BASIS pts

German 10 yr bond yield at 5 pm: ,-0.378%

The Dow closed DOWN 59.71 POINTS OR 0.17%

NASDAQ closed DOWN 278.72 POINTS OR 1.74%

VOLATILITY INDEX:  30.80 CLOSE UP 2.85

LIBOR 3 MONTH DURATION: 0.1730

 

%//libor dropping like a stone

USA trading day in Graph Form

 

i)  JOBS REPORT//

HUGE MISS!!

end

The jobs report is one big joke!! huge seasonable adjustments going on all the time

The data is totally compromised.

(zerohedge)

The Reason Behind Today’s Massive Payrolls Miss: A Huge Seasonal Adjustment Flaw

 
FRIDAY, DEC 03, 2021 – 09:43 AM

In recent months, the BLS itself admitted that it has a big problem in applying its traditional, pre-covid seasonal adjustments to a data series that was thrown out of all seasonal norms by the covid pandemic. This is why teacher jobs yoyo-ed for months and why the BLS was forced to make substantial upward revisions for each of the past 6 months, with most deriving from a flawed seasonal factor revision.

Well, it appears that a big reason for today’s huge, 5-sigma miss in total payrolls…

… even as the rest of the report was surprisingly solid, with the unemployment rate dropping, the number of unemployed workers sliding, and the household survey showing more than 1.1 million employed Americans, is that the BLS once again used a flawed seasonal adjustment which will prompt a sharp upward revision to the November print when it is revised next month.

As Southbay Research explains further today,

During COVID, the BLS admitted to two significant failures that led to substantial data distortion:

  1. Data collection: in 2020, the BLS discovered that their new COVID-created remote sampling incorrectly classified some payroll, resulting in underreporting hundreds of thousands of workers.
  2. Seasonal Adjustments: The BLS used their traditional methodology of applying a ratio to the raw Non Seasonally Adjusted data, which overstated job losses

The seasonal adjustment factor is important:  The Dept of Labor recognized the problem with the weekly Jobless Claims, where they also applied a ratio multiplier. They shifted away from the multiplier and began using absolute numbers as of August 29, 2020

Why does it matter? The answer is obvious: the SA is supposed to remove the ‘normal’ seasonal labor swings.  For example, we know bad weather typically hits construction in November, so layoffs in that sector are expected and smoothed out.

So historically speaking, ex recessionary periods, November sees 200K~300K in additional hiring.  Basically the seasonal shopping hiring. And so we see an equivalent level of offsetting Seasonal Adjustment.  Except for this November:

The implications: i) hiring, as hinted by the Household model, is quite strong but is hidden by model mechanics; and ii) more importantly, the faulty application of seasonal adjustment methodology lowered the November payrolls print by at least 200K; or as SouthBay summarizes it, “Far from being a weak November” this was a pretty strong report.

EARLY AFTERNOOON

‘Good News Is Bad News’ – Stocks Puke As Rate-Hike Odds Jump

 
FRIDAY, DEC 03, 2021 – 10:15 AM

Plunging unemployment and record high ISM Services… what is their to complain about?

Sadly – for equity investors – a lot! This ‘good news’ is very definitely ‘bad news’ for the only thing that levitates stocks – Fed liquidity – as it offers yet more cover for an accelerate taper and earlier and more aggressive rate-hike trajectory.

STIRs are pricing in an increasingly hawkish Fed…

And stocks don’t like that…

It appears – just like in Dec 2018 – stocks are in search of the new strike price for Powell’s Put (stocks fell 20% before Powell flip-flopped and sent the yield curve soaring again)…

Meanwhile, the yield curve has ripped back to flatter on the day…

As a Fed policy mistake is also priced in.

II)USA DATA

ISM Services Survey Explodes To Record High (And So Does Cost Inflation)

 
FRIDAY, DEC 03, 2021 – 10:04 AM

After the mixed final data for US Manufacturing in November (Markit PMI down, ISM up), expectations were for both Markit and ISM to show the Services sector weakened modestly in November.

  • Markit US Manufacturing dropped from 58.4 to 58.3

  • Markit US Services dropped from 58.7 to 58.0 (better than the 57.0 flash print)

  • ISM Manufacturing rose from 60.9 to 61.1

  • ISM Services exploded higher from 66.7 to 69.1

Spot the odd one out…

Source: Bloomberg

That is the highest ISM Services print… ever…

The IHS Markit US Composite PMI Output Index posted 57.2 in November, down from 57.6 in October but still signalling a marked overall expansion in private sector activity. Output was led by the service sector as factories were hampered by supply chain disruptions.

Sharper increases in manufacturing and service sector input prices led to the fastest rise in cost inflation on record (since October 2009). Alongside greater fuel and material costs, firms noted a steeper uptick in wage bills. Although the rate of charge inflation softened from October, it was the second-sharpest on record as firms sought to pass on higher costs to customers.

On the bright side, ‘Exam Glove’ prices are down (so let’s all rush out and get our prostate tests!!)

Commenting on the latest survey results, Chris Williamson, Chief Business Economist at IHS Markit, said:

US business activity continued to grow at a solid rate in November, adding to signs that the pace of economic growth is accelerating in the fourth quarter after the Delta-wave induced slowdown of the third quarter. While growth is not matching the surge seen earlier in the year when the economy reopened, the fourth quarter expansion should be well above the economy’s long-run trend to mark a solid end to the year.

Growth is lopsided, however, being led by the service sector as manufacturing remains heavily constricted by supply shortages and, in some cases, labor supply issues. These constraints are also increasingly affecting service providers, as evidenced by the service sector reporting a near record build-up of uncompleted orders during November as companies often lacked the capacity to meet demand. Cost pressures in the service sector also spiked higher in November, generally linked to higher prices paid for inputs and staff due to shortages, the rate of inflation running just shy of May’s all-time peak.

“While business expectations for the year ahead rose in November, the vast majority of the survey data were collected prior to the news of the Omicron variant, which casts a renewed shadow of uncertainty over the outlook for business and poses a downside risk to near-term growth prospects.“

Just as a reminder, with regard to ISM Services’ outlier move, ISM’s index of supplier delivery times held at the second-highest on record, indicating delays are still well-extended… and this ‘disruption’ in the supply chain is integrated entirely bullishly into the headline index (reflecting record demand as opposed to disrupted supply chains and many points of failure around the world).

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

b) USA COVID/VACCINE UPDATES//VACCINE MANDATES

After Biden loses in all50 states, the centres for Medicare and Medicaid services suspend their vaccine mandate enforcement.

(Philips/EpochTimes)

Centers For Medicare And Medicaid Services Suspends Vaccine Mandate Enforcement

 
THURSDAY, DEC 02, 2021 – 08:40 PM

Authored by Jack Phillips via The Epoch Times,

The federal Centers for Medicare and Medicaid Services (CMS) suspended enforcement of its vaccine mandate for healthcare workers after two court orders earlier this week.

memo issued by the agency, posted by Missouri Attorney General Eric Schmitt on Twitter Thursday, said that CMS “remains confident” it will prevail in court but is “suspending activities related to the implementation and enforcement of this rule pending future development in the litigation.”

“While these preliminary injunctions are in effect,” it continues to say, “CMS surveyors must not survey providers for compliance with the requirements” with the rule.

The memo is referring to federal government officials conducting checks of whether Medicare- or Medicaid-funded facilities are complying with the Biden administration’s mandate that healthcare staff gets fully vaccinated for COVID-19 by Jan. 4.

The CMS rule allows for religious and medical exemptions to the vaccine.

Schmitt, a Republican who is running for Missouri’s U.S. Senate seat, hailed CMS’s memo as a victory in a Twitter post.

This week, the U.S. District Court for the Eastern District of Missouri and the U.S. District Court for the Western District of Louisiana issued preliminary injunctions against the CMS vaccine rule, which was unveiled on Nov. 4 alongside federal rules that mandate either testing or vaccines for employers with 100 or more workers.

“Between the two of them, these injunctions cover all states” as well as Washington, D.C. and U.S. territories, the memo said.

CMS has appealed the two federal court decisions.

The rule for private businesses, which is being enforced by the Occupational Safety and Health Administration, was dealt a blow last month when a U.S. Fifth Court of Appeals issued an injunction that blocked its enforcement.

The same court affirmed its previous decision several days later, which is currently being challenged by the Biden administration.

On Nov. 29, the Biden administration’s Office of Management and Budget federal told agencies in a memo that they can wait to terminate or suspend their employees who won’t get vaccinated until the holidays are over.

OMB Deputy Director for Management Jason Miller and Office of Personnel Management Director Kiran Ahuja wrote that “no subsequent enforcement actions, beyond that education and counseling” is mandated for federal workers “who have not yet complied with the vaccination requirement until the new calendar year begins in January.”

Later, White House Jen Psaki downplayed the memo and said that “nothing has changed” regarding enforcement, claiming it is “inaccurate” to say that the White House has “delayed anything, or changed” enforcement of the rule. In September, Biden announced he would require all federal employees to receive the shot.

The Epoch Times has contacted CMS for comment.

end

Manchin joins GPO to nix Biden’s large business vaccine mandate

(zerohedge)

Manchin Joins GOP Effort To Nix Biden’s Vaccine Mandate For Large Businesses

 
FRIDAY, DEC 03, 2021 – 07:48 AM

President Joe Biden’s vaccine mandate for large businesses has yet another opponent: Joe Manchin.

The moderate Democratic Senator from West Virginia announced Thursday night that he would be supporting a Senate GOP effort to resist the mandate, which is supported by all 50 Republicans in the chamber. With Manchin’s vote, the resolution can pass.

“Let me be clear, I do not support any government vaccine mandate on private businesses. That’s why I have cosponsored and will strongly support a bill to overturn the federal government vaccine mandate for private businesses,” he said in a statement, adding “I have long said we should incentivize, not penalize, private employers whose responsibility it is to protect their employees from COVID-19.”

“I have personally had both vaccine doses and a booster shot, and I continue to urge every West Virginian to get vaccinated themselves.”

That said, the resolution would still need to pass the House – and as The Hill notes, would likely be vetoed by Biden.

Republican senators introduced the resolution earlier this year under the Congressional Review Act (CRA) to roll back the mandate, with which the Occupational Safety and Health Administration orders businesses with at least 100 employees to require their workers to get vaccinated or undergo regular testing by Jan. 4.

Republicans are able to use the CRA to force a vote to nix Biden’s mandate at a simple majority vote. The resolution is expected to come to the floor for a vote next week and Sen. Mike Braun (R-Ind.), who is leading the effort, told The Hill on Thursday night that he is in talks with a handful of additional Democratic senators.

“I hope that more Democratic Senators and Representatives will follow Senator Manchin’s strong lead and stand up against this federal overreach that will wreak havoc on our recovering economy and trample on the rights of millions of Americans,” said Sen. Braun in a statement.

Manchin’s announcement is somewhat of an about-face, after he previously voted against a GOP amendment to defund the mandate which would have been attached to a short-term government funding bill – though he says it’s because he didn’t want to risk a shutdown.

end

iii) important USA economic stories

iv) Swamp commentaries/

 
END

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

Bloomberg 8:09 ET: House Democrats released a bipartisan short-term spending bill to keep the government open through Feb. 18. – The bill would fund U.S. government agencies through Feb. 18 and would have to pass both the House and Senate by midnight Friday to avert a shutdown. By financing the government into next year, Democrats hope to free up time in December to pass their separate tax, climate and social spending proposal totaling roughly $2 trillion, in addition to raising the U.S. debt limit  https://t.co/jYyCUUWNyT

 

Schumer Says Deal Reached with McConnell on Stop Gap Funding – BBG

Schumer Says Republican Dysfunction Could Still Be a Roadblock to Averting Government Shutdown – BBG

@newsmax: Senate Republican leader Mitch McConnell said on Thursday Republicans would not block a stop-gap government funding bill, adding that shutting down the government over opposition to COVID-19 vaccine mandates makes no sense.
https://www.newsmax.com/newsfront/shutdown-agreement-congress-senate/2021/12/02/id/1047044/

@Peoples_Pundit: This is why @LeaderMcConnell has the worst favorability rating out of all congressional leaders. 63% unfavorable w/ only 6.5% of GOP voters having a “very favorable” view of him, just 3.5% of NPA IND/3rd Party voters. Democratic voters like @SenSchumer. https://t.co/o07Vzk4Aeq

Manchin Says He May Join GOP in Defunding Biden’s Vaccine Mandate
https://conservativebrief.com/manchin-55650/?utm_source=CB&utm_medium=55321

GOP @RepBobGood: Republicans in the Senate have a choice: support freedom and stand with @SenMikeLee or vote to fund Biden’s unconstitutional vax mandates.

Treasury Secretary Janet Yellen says it’s the Fed’s job to avert any wage-price spiral https://t.co/rQlhKJw7J3

Labor market tightening; layoffs lowest in nearly 30 years https://t.co/c8J9F7xH8L

Hedge Funds Are Liquidating At A Furious Pace…. And Retail Investors Are Buying It All
The S&P 500 suffered its biggest two-day rout since October 2020, hedge funds went risk off big time, because according to the latest update from Goldman Prime, net leverage fell to a one-year low this week.  A similar analysis from BofA also confirmed the deleveraging trend of deleveraging – the firm’s hedge-fund clients dumped more than $2 billion of stocks last week, exiting the market at the fastest pace since April…as we noted earlier, retail stock purchases rose to a new record on Tuesday of $2.2 billion, after reaching $2.1 billion during Friday’s rout, according to Vanda Research…
https://www.zerohedge.com/markets/hedge-funds-are-liquidating-furious-pace-and-retail-investors-are-buying-it-all

 

GOP Sen. @SenTomCotton: After years of Chairman Powell’s reckless policy, inflation now exceeds 6%—the highest rate in 3 years. There must be consequences for such failure.

‘No’ on Fed Chairman Jerome Powell – Sen. Cotton op-ed in WSJ
He’s failed in his main mission, to keep the currency sound.   https://t.co/yz9eWYW5GI

Bloomberg (@business): People as young as 18 are now cleared to operate big rigs on interstate runs as the U.S. works to solve supply-chain bottlenecks — but safety advocates are raising the alarm since teens typically crash at four times the rate of older drivers…  https://t.co/SowPFdTaL6

@nytimes: A Pollster’s Warning to Democrats: ‘We Have a Problem’
I was surprised by how dominant education was in this election… People think we’re more focused on social issues than the economy — and the economy is the No. 1 issue right now The No. 1 issue for women right now is the economy, and the No. 1 issue for Black voters is the economy, and the No. 1 issue for Latino voters is the economy… They just see costs going up Voters don’t think that in general a lot of Democrats felt really bad about closing the schools The thing that these people disliked about Trump was that they didn’t like Donald Trump the person; it wasn’t Donald Trump the constellation of policies.  https://www.nytimes.com/2021/12/02/us/politics/midterm-election-polls.html?smtyp=cur&smid=tw-nytimes

Public anger over new Covid restrictions puts leaders across Europe on defense https://t.co/ib6mex7y8n

A vaccinated Minnesota man has the Omicron variant.  His symptoms are mild.

The Fed Balance Sheet: -$31.369B; MBS -$38.842B  https://www.federalreserve.gov/releases/h41/20211202/

Funding bill passes House, future uncertain in Senate
The House voted 221-212 to approve, with only one Republican, Illinois Rep. Adam Kinzinger, supporting the resolution… The Senate must vote on the bill before midnight Friday to avoid the shutdown. The federal government will be funded through Feb. 18 under the bill.
https://justthenews.com/government/congress/funding-bill-passes-house-future-uncertain-senate

Today – Because inflation is causing political problems for the first time in decades, a great November NFP should not have anything more than a transitory effect.  However, a notably soft November Employment Report could unleash defensive asset allocation.  This implies that Team Obama/Biden and market bulls need a Goldilocks November Employment Report.  As always, check the Household Survey ‘Employed’ to substantiate the NFP number.  An unexpected increase in wages could be very bad.

Hunter Biden, foreign agent plotted investment meeting with Serbian president and oligarchs, emails show – The foreign agent for Serbia later led the central super PAC that helped Joe Biden’s 2020 campaign  https://www.foxnews.com/politics/hunter-biden-serbia-foreign-agent-investment-meeting-serbian-president-oligarchs?s=02

Dr Fauci warns that COVID vaccinations may be needed EVERY YEAR https://t.co/Wj3DEXTMQ9
(Then, it is NOT a vaccine; it is a shot, like an annual flu shot.)

Pfizer boss says annual Covid jabs will be needed to maintain ‘very high protection’ https://t.co/L25ySOarQN

Pfizer vaccine injury data ordered released by judge shows shocking risk level
This means that the FDA knew from day one these vaccines were unsafe to the point that they would typically be denied authorization, and certainly not funded, mandated, and marketed with a budget and energy that have never been placed behind a product since the dawn of time…
    Pfizer discloses the existence of 42,086 adverse event case reports containing 158,893 total events, including 1,227 deaths. 25,957 of the events were classified as “Nervous system disorders.” So for those who think that somehow VAERS is not accurate or is overreporting deaths, these are numbers straight from the horse’s mouth just through February

    Israeli researchers found a list of 183 professional athletes or coaches who died suddenly this year, well beyond the normal baseline over the past 20 years. Most were very young, and 80 of them collapsed on the field. Most of the reported causes were heart-related, including myocarditis, pericarditis, heart attacks, or cardiac arrest, as well as blood clotting…  https://t.co/WO6JgAxbxb

@MarinaMedvin: New study and warning from American Heart Association: mRNA vaccines dramatically increase risk of developing heart diseases from 11% to 25%  https://t.co/7QxltagOPj

The Big Guy has a Teleprompter reading on Covid/Omicron.  He wants children under the age of 5 vaccinated.  This is egregiously wrong, given the 99.9995% survival rate of children and the unknow long-term side effects of mRNA vaccines.  What does big pharma have on The Big Guy?

@charliespiering: Joe Biden says the question he gets asked by parents the most is when can they get their kids under three vaccinated.  (Has the Big Guy issued a more blatant lie during his reign?)

@disclosetv: Biden will do everything in his power to help FDA approve vaccines for children under 5https://t.co/ZOxE3CYvRb

@kylenabecker: This is putting millions of kids’ lives at risk. Kids’ survival rate is 99.99995%! Adverse Events are not being reported accurately in VAERS. The system severely undercounts AEs. If ‘vaccines’ aren’t experimental, why do we already need boosters? Alarming.

mRNA inventor Robert W Malone, MD (@RWMaloneMD): We now have over 16,000 Physicians and medical scientists that have signed the declaration endorsing three key points – Don’t COVID vax children, leave the naturally immune alone, and let physicians practice medicine https://t.co/fxNaOJxcuE

@disclosetv: Biden: “Who’s President? Fauci! But all kidding aside…”  https://t.co/Jwo7rdDgrQ

@YahooFinance: Pres. Biden on 5 key COVID actions for the U.S.: “Expanding the nationwide booster campaign… Launch new family vaccination clinics… Making free at-home tests more available… Increasing our surge response teams… Accelerate our efforts to vaccinate the rest of the world.” https://t.co/b5ntfthhPQ

@CBSNews: Biden announces private insurance companies next month will start covering at-home COVID-19 tests, and Americans without private insurance can pick up free tests at thousands of locations. “The bottom line — this winter you’ll able to test for free in the comfort of your home/” https://t.co/3NBJJIq0I3

The U.S. is pledging to deliver 200 million additional Covid-19 vaccine doses to countries in need within the next 100 days, Biden says (The US is NOT the world’s HMO.  What does big pharma have on The Big Guy?) https://t.co/ve4V5ejt8E

@townhallcom: Joe Biden wants you to view his new Winter COVID plan as a “patriotic responsibility” instead of “denying people their basic rights.” https://t.co/qkc7ujR2By

The mystery of where omicron came from — and why it matters
While scientists can tell that this variant evolved from a strain that was circulating in mid-2020, in the intervening months there has been no trace of all the intermediate versions that scientists would have expected to find as it morphed into its current form.  “It doesn’t tie into anything that was circulating more recently,” says Bedford.” Yet its mutations put it a long way from that 2020 strain…
    Hypothesis No. 3: Incubation in an immunocompromised person
There is, however, one place the virus could have been hiding while it evolved into omicron that probably would have been in health officials’ blind spot: inside the body of a single person. Specifically, a person whose immune system was suppressed — for example, as a result of an untreated HIV infection…
   In the short run, says Bedford, making educated guesses as to omicron’s source can help scientists assess the potential threat from the variant… The larger takeaway: Ramp up HIV treatment
https://www.npr.org/sections/goatsandsoda/2021/12/01/1055803031/the-mystery-of-where-omicron-came-from-and-why-it-matters

@nytimes: The largest media organizations in the U.S. — including ABC, CBS, CNN, Dow Jones, NBC, The New York Times and The Washington Post — filed a brief on Tuesday asking a court not to bar Steve Bannon from releasing documents related to the Jan. 6 Capitol riot.
https://www.nytimes.com/2021/12/02/business/media/bannon-legal-fight-first-amendment.html?smtyp=cur&smid=tw-nytimes

@joelpollak: The DOJ is prosecuting Bannon for not releasing documents to Congress, but going to court to stop him from releasing documents to the public. Pure tyranny.

Steve Bannon’s Jan. 6 Legal Strategy: ‘Blowing Up the Whole System’
Bannon is attempting to force investigators to potentially expose who they’ve talked to and what they’ve said, peek into secret communications on the committee, and create a playbook for other resistant witnesses, according to several legal experts… As Bannon faces criminal charges, he’s entitled to the evidence against him… that includes secret witness interviews by law enforcement and internal communications between House committee staff members. The Justice Department claims that, if this material were exposed to the public, it would cause “specific harms” like “witness tampering,” with the added effect of making it difficult to find impartial jurors at a future trial…
   Bannon is severely raising the cost of coming after him—making good on his promise to turn this into the “misdemeanor from hell for Merrick Garland, Nancy Pelosi, and Joe Biden.”…
https://www.thedailybeast.com/steve-bannons-jan-6-legal-strategy-blowing-up-the-whole-system

The CIA had evidence at least 10 of its employees and contractors committed sexual crimes involving children. But only one person faced criminal charges. https://t.co/WXlMyqI04w

@JackPosobiec: The head of the Jan 6 Committee says if you exercise your Constitutional rights you are a criminal Are you paying attention yet?   https://twitter.com/JackPosobiec/status/1466431191729557516?s=02

Migrant surge at border fuels massive fentanyl overdose crisis in U.S.  https://t.co/MymjZxz75m

Mossad recruited top Iranian scientists to blow up key nuclear facility – 90 per cent of the plant’s centrifuges were destroyed, putting the complex out of action for up to nine months
https://www.thejc.com/news/world/exclusive-mossad-recruited-top-iranian-scientists-to-blow-up-key-nuclear-facility-1.523163?s=02

@ArthurSchwartz: Biden says he went to Israel during the Six Day War to act as a liaison. He’s lying. That never happened. Totally normal. (Joe was 25 at the time, a 2nd year law student) https://t.co/rqLysviI4U

 
 

end

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

Dark Winter Biden, Booster Push, Fed Lost Control

By Greg Hunter’s USAWatchdog.com (WNW 506 12/03/21)

Vice President Biden was out today describing his version of the “Dark Winter” he has mentioned in the past.  This time it’s in response to the new Omicron virus that the Globalists are hyping as a new way to scare you into getting another jab or booster.   It’s tough to convince people to get more of what doesn’t work.  Just ask the “Fully Vaccinated” Dallas Cowboys who have at least 9 players with, wait for it–Covid.

Step right up for the booster, and you are stupid if you do.  The South African doctor who discovered this variant of CV19 says it is “extremely mild,” and “there has been no real uptick in hospitalizations.”  That medical appraisal does not stop the pushers of yet another round of injections when the first two clearly did not work.  How many boosters does the public have to get to realize this is a total scam and not about medicine?

Fed Head Jay Powell has broken big news, and that is inflation is NOT “transitory” as the Fed has been claiming for many months.  The Fed has officially lost control of inflation.   Why is this big news?  Well, Powell has to do something about inflation now, and that is going to cause big problems in the markets and economy and may even collapse it altogether.  If Powell does nothing, then look out above as inflation in everything including  gold, silver and cryptos will rip higher—much higher.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up 12.03.21

Dark Winter Biden, Booster Push, Fed Lost Control

 

After the Interview: 

Doctor Elizabeth Eads will be back for an update on CV19 and reveal what she is seeing after the unvaxed spent Thanksgiving with the vaxed.  Spoiler alert– it’s not pretty

Well that is all for today
 
 
 
 

I will see you MONDAY night.

Leave a Reply

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

WordPress.com Logo

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

Twitter picture

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

Facebook photo

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

Connecting to %s

%d bloggers like this: