AUGUST 29/GOLD CLOSED DOWN $.50 TO $1737.10//SILVER WAS DOWN 7 CENTS TO $18.78//PLATINUM WAS DOWN 90 CENTS TO $867.25//PALLADIUM WAS UP $19.75 TO $2142.50//COVID UPDATES/VACCINE IMPACT//VACCINE INJURIES//DR PAUL ALEXANDER//UK’S DEBT AND POWER PROBLEMS ESCALATE//HIGH COSTS IN ENERGY HAS SHUT DOWN MOST OF EUROPE’S AMMONIA PLANTS AND THUS FARMERS ARE LACKING FERTILIZER TO GROW FOODS//EUROPE PLANS ON AN EMERGENCY ENERGY INTERVENTION BUT THAT WAS NO SPELLED OUT: BASICALLY THEY HAVE NOT FIGURED OUT WHAT TO DO!!/POLAND CITIZENS LINE UP TO BUY COAL FOR THE WINTER//IRAQ, BAGHDAD’S GREEN ZONE BREACHED BY FIRINGS//DALLAS FED REPORT//SWAMP STORIES FOR YOU TONIGHT//

Uncategorized · Leave a comment·Edit

 Uncategorized · Leave a comment·Edit

GOLD;  $1737.10 DOWN $0.50

SILVER: $18.78 DOWN 7 CENTS 

ACCESS MARKET: 

GOLD $1737.60

SILVER: $18.76

Bitcoin morning price:  $20,147 DOWN 851

Bitcoin: afternoon price: $20,671 DOWN 1378

Platinum price closing DOWN $0.90 AT $867.25

Palladium price; closing UP $19.75  at $2142.50

END

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 EXCHANGE: COMEX 

EXCHANGE: COMEX
CONTRACT: AUGUST 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,736.100000000 USD
INTENT DATE: 08/26/2022 DELIVERY DATE: 08/30/2022
FIRM ORG FIRM NAME ISSUED STOPPED


905 C ADM 4
972 C IRONBEAM INC 2
991 H CME 2


TOTAL: 4 4
MONTH TO DATE: 33,688

JPMorgan stopped:   32/91

_____________________________________________________________________________________

GOLD: NUMBER OF NOTICES FILED FOR AUGUST CONTRACT:  

4 NOTICES FOR 400 OZ //0.01244 TONNES

total notices so far: 33,688 contracts for 3,368,800 oz (104.783 tonnes) 

SILVER NOTICES: 2 NOTICES FILED FOR 10,000 OZ/

 

total number of notices filed so far this month  1051 :  for 5,255,000  oz



END

Russia is a major supplier of silver to London while Mexico supplies the COMEX

With the sanctions, London has no way to obtain silver other than compete with NY.

GLD

WITH GOLD DOWN $0.50 

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//

BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNEES FROM THE GLD//

INVENTORY RESTS AT 982.64 TONNES

Silver//SLV

WITH NO SILVER AROUND AND SILVER DOWN $.07

AT THE SLV// ://BIG CHANGES IN SILVER INVENTORY AT THE SLV//: A WITHDRAWAL OF 2.765 MILLION OZ FROM THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV

CLOSING INVENTORY: 470.138 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE


SILVER COMEX OI FELL BY  A HUGE SIZED 1600  CONTRACTS TO 135,498.   AND FURTHER FROM  THE NEW RECORD OF 244,710, SET FEB 25/2020 AND THE HUGE LOSS IN OI WAS ACCOMPLISHED WITH OUR  $0.39 LOSS  IN SILVER PRICING AT THE COMEX ON FRIDAY.  OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.39) AND WERE  UNSUCCESSFUL IN KNOCKING OFF ANY SPEC SILVER LONGS AS WE HAD A SMALL LOSS OF 238 CONTRACTS ON OUR TWO EXCHANGES,   WITH ALL OF THAT LOSS DUE TO COTINUAL SPREADER LIQUIDATION AND SOME SPECULATOR LIQUIDATION.

WE  MUST HAVE HAD: 
I) SOME  SPECULATOR SHORT LIQUIDATIONS AND COMMENCEMENT OF SPREADER LIQUIDATION////CONTINUED BANKER OI COMEX ADDITIONS /. II)  WE ALSO HAD  SOME  REDDIT RAPTOR BUYING//.   iii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.855 MILLION OZ FOLLOWED BY TODAY’S 110,000 OZ QUEUE JUMP   / //  V)   HUGE SIZED COMEX OI LOSS/(//SOME SPEC LIQUIDATION//SPREADER LIQUIDATION)

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: + 258

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS  AUGUST. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF AUGUST: 

TOTAL CONTACTS for 21 days, total 13,005  contracts:  65.025 million oz  OR 3.096 MILLION OZ PER DAY. (619 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 65.025  MILLION OZ

.

LAST 16 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120 

SEPT. 28.230 MILLION OZ//

OCT:  94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ 

JAN 2022//  90.460 MILLION OZ

FEB 2022:  72.39 MILLION OZ//

MARCH: 207.430  MILLION OZ//A NEW RECORD FOR EFP ISSUANCE 

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ 

AUGUST: 65.025 MILLION OZ (A LOT LESS THAN NORMAL//THE CROOKS ARE SCARED TO ISSUE MORE EFP’S)

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1600 WITH OUR   $0.39 LOSS IN SILVER PRICING AT THE COMEX// FRIDAY.,.  THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE  CONTRACTS: 1620 CONTRACTS ISSUED FOR SEPT AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS    THE DOMINANT FEATURE TODAY: /SOME BANKER ADDITIONS A// SOME SPEC SHORT  LIQUIDATIONS BUT STRONG SPREADER LIQUIDATION /// WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR AUGUST. OF 3.855 MILLION  OZ FOLLOWED BY TODAY’S NIL OZ QUEUE JUMP  //  .. WE HAD A SMALL SIZED LOSS OF 20 OI CONTRACTS ON THE TWO EXCHANGES FOR 0.100 MILLION  OZ AS..THE SPECS STILL BEING SENT TO THE SLAUGHTER HOUSE.

 WE HAD 2  NOTICE(S) FILED TODAY FOR  10,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE  BY A SMALL SIZED 559 CONTRACTS  TO 457,582 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. WE WILL PROBABLY SEE THE COMEX OI FALL TO AROUND 380,000 AS OUR SPECS GET ANNIHILATED.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:–655   CONTRACTS.

.

THE SMALL SIZED  INCREASE  IN COMEX OI CAME DESPITE OUR STRONG FALL IN PRICE OF $20.60//COMEX GOLD TRADING/FRIDAY / WE MUST HAVE  HAD  ADDITIONAL SPECULATOR SHORT SHORT COVERINGS ACCOMPANYING OUR STRONG SIZED EXCHANGE FOR PHYSICAL ISSUANCE./. WE HAD ZERO LONG LIQUIDATION    //AND CONSIDERABLE SPECULATOR SHORT COVERINGS//CONTINUED ADDITIONS TO OUR BANKER LONGS!! THE COMEX WILL BLOW UP AS THE SPECS CANNOT DELIVER GOLD TO OUR BANKER LONGS.

WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 98.367 TONNES ON FIRST DAY NOTICE  FOLLOWED BY TODAY’S  E.F.P. JUMP TO LONDON OF 4400 OZ //NEW STANDING 104.979 TONNES

YET ALL OF..THIS HAPPENED WITH OUR FALL IN PRICE OF   $20.60 WITH RESPECT TO THURSDAY’S TRADING

WE HAD A STRONG SIZED GAIN OF 6529  OI CONTRACTS 20.309 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5970  CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 458,582

IN ESSENCE WE HAVE A STRONG  SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 6529 CONTRACTS  WITH 559 CONTRACTS  INCREASED AT THE COMEX AND 5920 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 6529 CONTRACTS OR 20.307 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5970) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI (559): TOTAL GAIN IN THE TWO EXCHANGES 6529 CONTRACTS. WE NO DOUBT HAD 1) CONSIDERABLE SPECULATOR SHORT COVERINGS// CONTINUED GOOD BANKER ADDITIONS//  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR AUGUST. AT 99.272 TONNES FOLLOWED BY TODAY’S E.F.P. JUMP OF 4400 oz.    3) ZERO LONG LIQUIDATION//// //.,4)   SMALL SIZED COMEX OPEN INTEREST GAIN 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL/

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY

AUGUST

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF AUGUST :

58,131 CONTRACTS OR 5,813,100 OZ OR 180.81  TONNES 21 TRADING DAY(S) AND THUS AVERAGING: 2768 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21  TRADING DAY(S) IN  TONNES: 180.81 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2021, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  180.81/3550 x 100% TONNES  5.09% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2022 

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN).. 

MARCH:.   276.50 TONNES (STRONG AGAIN/

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.           175.62 TONNES//FINAL ISSUANCE// 

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH:  409.30 TONNES INITIAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247,44 TONNES FINAL// 

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES (DRAMATICALLY FALLING AGAIN)

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW NON ACTIVE FRONT MONTH OF SEPT. WE ARE NOW INTO THE SPREADING OPERATION OF SILVER

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 ACTIVE DELIVERY MONTH OF AUGUST HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF SEPT., FOR SILVER:

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 (JULY), 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.”

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 HUGE SIZED 1600 CONTRACT OI TO 135,498 AND FURTHER FROM  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  5 YEARS AGO.  

EFP ISSUANCE 1620 CONTRACTS

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

SEPT 1620  ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1620 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 1858  CONTRACTS AND ADD TO THE 1620 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL SIZED LOSS OF 20   OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE LOSS  ON THE TWO EXCHANGES 0.100 MILLION OZ

OCCURRED WITH OUR LOSS IN PRICE OF  $0.39

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

end

3. Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com,

4. Chris Powell of GATA provides to us very important physical commentaries

end

5. Other gold commentaries

6. Commodity commentaries//

3. ASIAN AFFAIRS

i)MONDAY MORNING// SUNDAY  NIGHT

SHANGHAI CLOSED UP 4.51 PTS OR 0.14%   //Hang Sang CLOSED DOWN 146.82 OR 0.73%    /The Nikkei closed DOWN 762.42 OR % 2.66.          //Australia’s all ordinaires CLOSED DOWN 2.07%   /Chinese yuan (ONSHORE) closed DOWN AT 6.9179//OFFSHORE CHINESE YUAN DOWN 6.9192//    /Oil DOWN TO 93.28  dollars per barrel for WTI and BRENT AT 101/15//    / Stocks in Europe OPENED  ALL RED.        ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

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

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE  BY A SMALL SIZED 559 CONTRACTS TO 458,237 AND CLOSER TO THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS COMEX INCREASE OCCURRED DESPITE OUR FALL OF $20.60  IN GOLD PRICING  FRIDAY’S COMEX TRADING. WE ALSO HAD A STRONG SIZED EFP (5920 CONTRACTS). . THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. IT NOW SEEMS THAT THE COMMERCIALS HAVE GOADED THE SPECS TO GO MASSIVELY SHORT  AND NOW THEY ARE DESPERATELY TRYING TO COVER THEIR FOLLY.

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.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON  ACTIVE DELIVERY MONTH OF AUGUST..  THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 5970 EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 DEC :5970 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  5970 CONTRACTS 

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

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED SIZED  TOTAL OF 6529  CONTRACTS IN THAT 5970 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A SMALL  SIZED  COMEX OI GAIN OF 1214  CONTRACTS..AND  THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH  OUR STRONG FALL IN PRICE OF GOLD $ 20.60.  WE  ARE NOW WITNESSING THE SPECULATORS WHO HAVE BEEN MASSIVELY SHORT TRYING DESPERATELY TO COVER WHILE THE BANKERS WHO ARE LONG CONTINUE TO ADD TO THEIR PURCHASES. THIS  WILL NOT END WELL FOR OUR SPECS.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING AUGUST   (104.979),

 HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:

DEC 2021: 112.217 TONNES

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 ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL SO FAR THIS YEAR (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $20.60) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY  SPECULATOR LONGS AS WE HAD A STRONG SIZED TOTAL GAIN ON OUR TWO EXCHANGES //   COMMERCIAL LONGS ADDED TO THE POSITIONS, AND SPECULATOR SHORTS CONTINUED TO ADD TO THEIR POSITIONS//////  WE HAVE  REGISTERED A STRONG SIZED GAIN  OF 20.307 TONNES ON TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR  GOLD TONNAGE STANDING FOR AUGUST (104.979 TONNES)

WE HAD -655  CONTRACTS REMOVED FROM COMEX TRADES. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 6529 CONTRACTS OR 652900  OZ OR 20.307 TONNES

Estimated gold volume 101,420///  extremely poor/

final gold volumes/yesterday  187,676/extremely poor

INITIAL STANDINGS FOR AUGUST ’22 COMEX GOLD //AUGUST 29

GoldOunces
Withdrawals from Dealers Inventory in oznil oz
Withdrawals from Customer Inventory in oz4989.354  oz


Brinks
HSBC
Manfra



Deposit to the Dealer Inventory in oznil 
Deposits to the Customer Inventory, in oz4,469.651 oz
No of oz served (contracts) today4   notice(s)
400  OZ
0.01244 TONNES
No of oz to be served (notices)63 contracts 
6300 oz
0.1959 TONNES
Total monthly oz gold served (contracts) so far this month33,688 notices
3,368,800 OZ
104.783 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthxxx oz

total dealer deposit  0

total dealer deposit:  nil oz

No dealer withdrawals

Customer deposits: 1

i) Into Brinks: 4469.651 oz

total deposits 4469.651 oz oz

3 customer withdrawals:

i) Out of Brinks 32.15  oz  (one kilobar)

ii) Out of HSBC: 487.552 oz

iii) OUT OF MANFRA:  4469.651 oz

total:  4989.354  oz

total in tonnes: 0.1556 tonnes

Adjustments: dealer to customer //3

i) Brinks 8,419.312 oz

ii) JPM: 6,585.067 oz

iii) Manfra: 24,783.421 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST.

For the front month of AUGUST we have an  oi of 67 contracts having LOST 135 contracts .

We had 91 notices served upon yesterday so we LOST 44 contracts or an additional 4400 oz will NOT stand for delivery in this very active month of August as they were EFP’d over to London.

Sept. lost 167 contracts to 2704 contracts.

October gained 381 contracts up to 39,168 

We had 4 notice(s) filed today for 400 oz FOR THE AUGUST 2022 CONTRACT MONTH. 


Today, 0 notice(s) were issued from J.P.Morgan dealer account and  0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 4 contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the AUGUST /2022. contract month, 

we take the total number of notices filed so far for the month (33,688) x 100 oz , to which we add the difference between the open interest for the front month of  (AUGUST 67 CONTRACTS ) minus the number of notices served upon today 4 x 100 oz per contract equals 3,375,100 OZ  OR 104.979 TONNES the number of TONNES standing in this  active month of AUGUST. 

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

No of notices filed so far (33,688) x 100 oz+   (67)  OI for the front month minus the number of notices served upon today (4} x 100 oz} which equals 3,375,100 oz standing OR 104.979 TONNES in this active delivery month of August.

TOTAL COMEX GOLD STANDING:  104.979 TONNES  (A HUGE STANDING FOR AUGUST (   ACTIVE) DELIVERY MONTH)

SOMEBODY IS AFTER A HUGE AMOUNT OF GOLD.  THE EFPS ARE NOW BEING USED TO TAKE GOLD FROM THE COMEX.  THUS THE AMOUNT OF GOLD STANDING FOR AUGUST WILL RISE EXPONENTIALLY.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 o

total pledged gold:  2,344,669.896 oz   72.92 tonnes 

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED:  28,385,818.612 OZ  

TOTAL REGISTERED GOLD: 13,684,523.529  OZ (425.63 tonnes)

TOTAL OF ALL ELIGIBLE GOLD: 14,701,295.083 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 11,333,985. OZ (REG GOLD- PLEDGED GOLD) 352.70 tonnes//rapidly declining 

END

SILVER/COMEX/AUGUST 29

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory572,369.660 oz
CNT

Brinks


 
Deposits to the Dealer Inventorynil OZ
Deposits to the Customer Inventory nil oz


 
No of oz served today (contracts)2CONTRACT(S)
10,000   OZ)
No of oz to be served (notices)51 contracts 
(255,000 oz)
Total monthly oz silver served (contracts)1051 contracts
 5,255,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

And now for the wild silver comex results


i)  0 dealer deposit

total dealer deposits:  nil    oz

i) We had 0 dealer withdrawal

total dealer withdrawals:  oz

We have  0  deposits into the customer account

total deposit:  nil   oz

JPMorgan has a total silver weight: 170.385 million oz/329.211 million =51.74% of comex 

 Comex withdrawals:2

i) Out of CNT:  568,507.760 oz

ii) Out of Brinks: 3861.900 oz

total: 572,369.660    oz

 adjustments:  1//dealer to customer//JPMorgan

238,958.530 oz

the silver comex is in stress!

TOTAL REGISTERED SILVER: 51.786 MILLION OZ

TOTAL REG + ELIG. 329.211 MILLION OZ

CALCULATION OF SILVER OZ STANDING FOR AUGUST

silver open interest data:

FRONT MONTH OF AUGUST OI: 53 CONTRACTS HAVING LOST 22 CONTRACTS.  WE HAD 22 NOTICES FILED ON FRIDAY

SO WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ OF SILVER WILL STAND FOR DELIVERY.  THE AMOUNT STANDING

WILL NOW INCREASE//(OR REMAIN CONSTANT) ON A DAILY BASIS AS BANKERS SCOUR THE PLANET FOR BADLY NEEDED SILVER.

SEPTEMBER HAD A LOSS OF 8138 CONTRACTS DOWN TO 13,226

OCTOBER GAINED 70 CONTRACTS TO STAND AT 523

 CONTRACTS.

 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for  10,000 oz

Comex volumes:38,731// est. volume today//    poor

Comex volume: confirmed yesterday: 96,524 contracts ( good)

To calculate the number of silver ounces that will stand for delivery in AUGUST we take the total number of notices filed for the month so far at  1051 x 5,000 oz = 5,255,000 oz 

to which we add the difference between the open interest for the front month of AUGUST(53) and the number of notices served upon today 2  x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST./2022 contract month: 1051 (notices served so far) x 5000 oz + OI for front month of AUGUST (53)  – number of notices served upon today (2) x 5000 oz of silver standing for the AUGUST contract month equates 5,510,000 oz. .

the record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44

END

GLD AND SLV INVENTORY LEVELS

AUGUST 29/WITH GOLD DOWN $.50 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FORM THE GLD/////INVENTORY RESTS AT 982.64 TONNES

AUGUST 26/WITH GOLD DOWN $26.60; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 984.38 TONNES

AUGUST 25/WITH GOLD UP $9.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 984.38 TONNES

AUGUST 24/WITH GOLD UP $.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.28 TONNES FROM THE GLD//INVENTORY RESTS AT 984.38 TONNES

AUGUST 23/WITH GOLD UP $12.25 TODAY; BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.83 TONNES INTO THE GLD///INVENTORY RESTS AT: 987.66

AUGUST 22/WITH GOLD DOWN $14.00: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 985.83 TONNES

AUGUST 19/WITH GOLD DOWN $8.00 : NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 985.83 TONNES

AUGUST 18/WITH GOLD DOWN $5.25: GIGANTIC CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.78 TONNES FROM THE GLD////INVENTORY RESTS AT 985.83 TONNES

AUGUST 17/WITH GOLD DOWN $12.00: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 992.20 TONNES

AUGUST 16/WITH GOLD DOWN $7.85: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD////INVENTORY RESTS AT 993.94 TONNES

AUGUST 15/WITH GOLD DOWN $16.45: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD////INVENTORY RESTS AT 995.97 TONNES

AUGUST 12/WITH GOLD UP $7.65: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 995.97 TONNES

AUGUST 11/WITH GOLD DOWN $5.95: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 1.74 TONNES FROM THE GLD////INVENTORY RESTS AT 997.42 TONNES

AUGUST 10//WITH GOLD UP $2.45: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 996.16 TONNES

AUGUST 9/WITH GOLD UP $6.70: NO CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 996.16 TONNES.

AUGUST 8/WITH GOLD UP $13.55: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES FORM THE GLD//INVENTORY RESTS AT 999.16 TONNES

AUGUST 5/WITH GOLD DOWN $14.25: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .33 TONNES FROM THE GLD////INVENTORY RESTS AT 1000.32 TONNES

AUGUST 4 WITH GOLD UP $29.00 : BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.32 TONNES FROM THE GLD///INVENTORY REST AT 1000.65 TONNES

AUGUST 2/WITH GOLD UP $3.70; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.90 TONNES FROM THE GLD//INVENTORY RESTS AT 1002.97 TONNES//

AUGUST 1/WITH GOLD UP $5.75: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .58 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 1005.87 TONNES

JULY 29//WITH GOLD UP $12.50; NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 1005.29 TONNES

JULY 28/WITH GOLD UP $31.25; NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1005.29 TONNES

JULY 27.//WITH GOLD UP $1.80: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1005.29 TONNES

JULY 26/WITH GOLD DOWN $1.60: NO CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .58 TONNES FROM THE GLD////INVENTORY RESTS AT 1005.29 TONNES

JULY 25/WITH GOLD DOWN $7.85: NO CHANGES IN GOLD INVENTORY AT THE GLD: ////INVENTORY RESTS AT 1005.87 TONNES

JULY 22/WITH GOLD UP $17.45: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 1005.87 TONNES

JULY 21/WITH GOLD UP $11.40: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 7.101 TONNES FROM THE GLD////INVENTORY RESTS AT 1005.87 TONNES

JULY 20/WITH GOLD DOWN $8.80: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY REST AT 1009.06 TONNES

JULY 19/WITH GOLD DOWN $.35 :BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.22 TONNES FROM THE GLD//INVENTORY RESTS AT 1009.06 TONNES

GLD INVENTORY: 982.364 TONNES

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

AUGUST 29/WITH SILVER DOWN 7 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY A THE SLV: A WITHDRAWAL OF 2.765 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 470.135 MILLION OZ//

AUGUST 26/WITH SILVER DOWN 39 CENTS : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 472.900 MILLION OZ//

AUGUST 25/WITH SILVER UP 21 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.160 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 472.900 MILLION OZ//

AUGUST 24/WITH SILVER DOWN 12 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.424 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 475.066 MILLION OZ/

AUGUST 23/WITH SILVER UP 16 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.194 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 479.490 MILLION OZ//

AUGUST 22/WITH SILVER DOWN 17 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV/ INVENTORY RESTS AT 483.684 MILLION OZ

AUGUST 19/WITH SILVER DOWN 38 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.798 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 483.684 MILLION OZ.

AUGUST 18/WITH SILVER DOWN 27 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 369,000 OZ INTO THE SLV////INVENTORY RESTS AT 485.482 MILLION OZ//

AUGUST 17/WITH SILVER DOWN 32 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.106 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 485.113 MILLION OZ//

AUGUST 16/WITH SILVER DOWN 22 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 486.219 MILLION OZ/

AUGUST 15/WITH SILVER DOWN 38 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.152 MILLION OZ INTO THE SLV/ INVENTORY RESTS AT 486.219 MILLION OZ//

AUGUST 12/WITH SILVER UP 34 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 485.067 MILLION OZ//

AUGUST 11/WITH SILVER DOWN 46 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 920, 000 OZ FORM THE SLV.//INVENTORY RESTS AT 485.067 MILLION OZ//

AUGUST 10/WITH SILVER UP 26 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 485.159 MILLION OZ//

AUGUST 9/WITH SILVER DOWN 25 CENTS TODAY: TWO CHANGES IN SILVER INVENTORY AT THE SLV: FIRST: A DEPOSIT OF 461,000 OZ INTO THE SLV AND THEN A WITHDRAWAL OF 1.014 MILLION OZ..//INVENTORY RESTS AT 485.159 MILLION OZ//

AUGUST 8/WITH SILVER UP 83 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 485.712 MILLION OZ//

AUGUST 5/WITH SILVER DOWN 28 CENTS:BIG CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 922,000 OZ FROM THE SLV//INVENTORY RESTS AT 485.712 MILLION OZ//

AUGUST 4  WITH SILVER UP 21 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 527,000 OZ FROM THE SLV////INVENTORY RESTS AT 486.634 MILLION OZ

AUGUST 2/WITH SILVER DOWN 21 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 3.504 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 487.161 MILLION OZ//

AUGUST 1/WITH SILVER UP 17 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE GLD: NO CHANGES IN SILVER INVENTORY AT THE SLV////INVENTORY RESTS AT 483.657 MILLION OZ//

JULY 29/WITH SILVER UP 30 CENTS TODAY: A SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 461,000 OZ FROM THE SLV..//INVENTORY RESTS AT 483.657 MILLION OZ/

JULY 28/WITH SILVER UP $1.24 TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 484.118 MILLION OZ/

JULY 27/.WITH SILVER UP 4 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL 11.479 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 484.118MILLION OZ//

JULY 26/WITH SILVER UP 16 CENTS: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.504 MILLION OZ FROM THE SLV//: //INVENTORY RESTS AT 495.597 MILLION OZ//

JULY 25/WITH SILVER DOWN 24 CENTS: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.383 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 499.101 MILLION OZ//

JULY 22/WITH SILVER DOWN 10 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 500.484 MILLION OZ//

JULY 21/WITH SILVER UP 5 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.19 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 500.484MILLION OZ/

JULY 20/WITH SILVER DOWN 2 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 8.253 MILLION OZ FORM THE SLV/INVENTORY RESTS AT 507.585 MILLION OZ//

JULY 19/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 515.838 MILLION OZ//

CLOSING INVENTORY 472.900 MILLION OZ//

PHYSICAL GOLD/SILVER STORIES

1.PETER SCHIFF

Peter Schiff: Student Loan Forgiveness Is Pure Inflation

MONDAY, AUG 29, 2022 – 01:45 PM

Via SchiffGold.com,

Last week, President Joe Biden announced a student loan forgiveness scheme. Peter Schiff appeared on NewsMax Real America with Dan Ball to talk about the cost of forgiving student debt and the growing recession.

Peter said that despite all of the claims to the contrary, this is just going to add to the inflation problem.

Biden claims that forgiving $300 billion in student debt won’t impact inflation. How is that going to work? Peter said it won’t. In fact, this is pure inflation.

All the money that students are not going to repay to the government, the government is just going to print. The Federal Reserve is going to print that money because this is like a giant tax cut for certain Americans because the government is not going to get the money that it was going to receive from the repayment of those loans.”

So, where will the government get the money? There are no spending cuts. The end result has to be more inflation.

Peter also pointed out the moral hazard inherent in this scheme. Moral hazard means a lack of incentive to guard against risk because people are protected from the consequences.

Remember, the only reason we have all these student loans is because the government provided them or guaranteed them. The only reason college is so expensive is because the government provides so much money in the way of loans. But now that they start forgiving loans, students are going to borrow more money than ever before. Because the colleges are going to tell the students, ‘Hey, who cares how much you borrow for college? You’re not going to have to pay any of it back anyway. So, we’re going to double your tuition, and don’t worry. Maybe we’ll throw in a free car.”

Meanwhile, people who were thinking about paying off student loans won’t do it.

Why would you want to pay for something when the government says, ‘Don’t pay for it. It’s going to be free!’? You’re a sucker if you pay. Everybody is going to borrow the money on the chance that the loan is going to be forgiven.”

Looking at the broader economy, Dan Ball noted that the housing market continues to crash. It’s clear the economy is slowing. And Joe Biden’s solution was simply to redefine recession. Peter emphasized that we are already in a recession.

Next year, maybe they’ll be calling it a depression. Or, they’ll be denying that as well. But I think that’s what it’s more likely to be. But it’s also an inflationary depression because inflation is going to get worse, not just because they’re making it worse with student debt forgiveness or more aid to Ukraine. As the economy ultimately implodes, they’re going to try to stimulate it. In fact, I think the reason they want to extend the moratorium on student loans is because they want to get through the next election — the midterms. They want to make sure the voters vote for the guys who gave them out a freebie. Well, also what’s going to be happening is the economy is going to be getting a lot worse and there’s going to be a lot of political pressure on the Federal Reserve to turn its attention from inflation to try to do something to prop up a weak economy.”

end

2. Lawrie Williams//Pam and Russ Martens/Jim Rickards/Mathew Piepenburg/Von Greyerz

This is a must read..

(Mathew Piepenburg)

The End Is Nearing: A World Slowly/Openly Turning Away From The USDollar

SATURDAY, AUG 27, 2022 – 11:30 AM

Authored by Matthew Piepenburg via GoldSwitzerland.com,

With the USD losing influence, it would be the understatement of the year to say that we live in interesting times, for we certainly do.

But despite the inevitable attacks of appearing sensational, un-American or just plain cynical, I feel a more appropriate phrase boils down to this:

“We live in dishonest times.”

Below, I bluntly address the “Fed pivot debate,” the “inflation debate” and the USD’s slow global decline in the setting of a now multi-FX new normal in which gold’s historical bull market has yet to even begin.

These views are not based on biased politics, but honest economics, which for some odd reason, ought to still matter.

Let’s dig in.

The New Normal: Open Dishonesty

I recently authored a report showcasing a string cite of empirically open lies which now pass for reality on everything from the CPI inflation scale to the Cleveland Fed’s +1 real interest rate myth, or from official unemployment data to the now comical (revised) definition of a recession.

But a more recent lie from on high comes directly from the highest of all, U.S. President Joe Biden.

Earlier this month, Biden waddled to his podium and prompt-read to the world that the US just saw 0% inflation for the month of July.

Oh dear…

It’s sad when our national leadership lacks basic economic, math or even ethical skills, but then again, and in all fairness to a President in open (and in fact sad) cognitive decline, Biden is by no means the first President, red or blue, to just plain fib for a living.

A History of Fibbing

We all remember Clinton’s promise that allowing China into the WTO would be good for working class Americans, despite millions of them seeing their jobs off-shored to Asia seconds thereafter.

And let us not forget that little war in Iraq and those invisible weapons of mass destruction.

Nor should we ignore both Bush and Obama’s (as well as Geithner’s, Bernanke’s and Paulson’s) assurance that a multi-billion-dollar bailout (quasi-nationalization) of the TBTF banks and years of printing inflationary money (Wall St. socialism) out of thin air was, “a sacrifice of free market principles” needed to “save the free market economy.”

In reality, however, we haven’t seen a single minute of free market price discovery since QE1.

Thus, Biden’s announcement that there was NO inflation for July is just another clear and optically (i.e., politically) clever lie among a long history of lies.

That is, he failed to clarify that although there may have been LESS inflation in July, this hardly means “no” inflation, as any American who has a bill to pay already knows.

Setting the Stage (Narrative) for a Fed Pivot

What the July CPI decline does achieve, however, is yet another headline myth to justify an inevitable Fed pivot to more easy money by year-end (i.e., mid-term elections) or early 2023.

As we see below, the fiction writers, data-gatherers and fork-tongued policy makers in DC have already been gathering more official “data” to justify a Fed pivot toward more dovish money printing and hence more currency debasement ahead.

In addition to a decelerating CPI report for July, DC has also been checking the following, pre-pivot boxes to allow the Fed to get back to doing what it was truly designed to do, which is print debased money out of thin air to save the US Treasury market rather than working class citizens.

Specifically, DC is pushing hard on the following “data points” and narrative:

  • Decelerating inflation expectations
  • Declining online pricing
  • Declining PPI (Producer prices)
  • Declining oil prices (from their highs)

So, has inflation peaked? Are the above declines proof that inflation creates deflation by crushing consumer strength and hence price demand? Is the Fed’s work nearly done in defeating inflation?

My short answer is no, and my longer answer is that when it comes to market, currency and economic conditions, there’s…

More Pain Ahead

One clear sign that there’s more pain ahead, and hence more reasons for the Fed to pivot from temporary hawk to permanent dove, is the credit tightening now taking place in the US.

As I’ve said too many times to recall, the credit—and bond—market is the most important market and economic indicator of all.

Earlier this month, the Fed’s quarterly Loan Officer Survey came out with some scary and telling news, namely that the credit markets are tightening.

It’s important to know that in the last 30 years, a tightening of credit has always preceded a recession, even if DC wants to pretend that we are not in a recession.

The hawks may argue, of course, that during the inflationary 1970’s, tightening bank credit did NOT stop Volcker’s Fed from a hawkish rate hike policy.

But let me remind again that 2022 USA (with a 125% debt to GDP ratio) isn’t the Volcker era, which had a 30% ratio.

So, I’ll say it once more: The US can’t afford a sustained (Volcker-like) hawkish (rate-rising) policy–unless you believe the Fed is under direct orders from Davos to destroy America, which, I suppose is a fair belief, but one I’m not ready to embrace (yet)…

Despite Powell’s fear of becoming another Arthur F. Burns who let inflation run too hot, and despite his failed attempts throughout 2018, and again now, to be the tough-guy at the Fed, I still feel the Fed, for all the narrative points/reasons set forth above (including falling US tax receipts in July), is waiting for more weak economic data to justify a dovish pivot toward more QE rather than less inflation.

Why?

Because the Fed’s Only Job is to Keep Uncle Sam’s IOUs from Drowning

The only way to keep US Treasuries from tanking (and hence bond yields and interest rates from fatally spiking), is for the Fed to print more money to buy Uncle Sam’s otherwise unloved debt.

And this can only be done with more, not less, QE down the road.

Of course, money created with a mouse-click is inherently inflationary and inherently fatal to the purchasing power of the USD, which is why gold is inherently poised to out-perform every fiat currency in play today, including the world reserve currency.

But as for gold’s rise, in addition to the dis-inflationary recessionary forces (which require a weaker dollar and lower rates to fight), there’s a lot going on outside the US which further points to gold’s pending rise.

Little Trouble in Big China?

Investors may have noticed that money is fleeing China in droves. Capital outflows are reaching levels not seen since 2015, which sent the Yuan to the basement by 2016.

Does this mean the FX jocks should start shorting the heck out of the Chinese Yuan (CNY)?

I think not.

In fact, the CNY is holding its own despite massive capital outflows.

But how?

China: Openly Mocking the U.S. Dollar and the Back-Firing Putin Sanctions

The openly back-firing, financially-inept and politically-arrogant Western sanctions against Putin’s war amounted to the biggest game-changer in the global currency system since Nixon closed the gold window in 71.

More to the point, and despite massive capital outflows, the CNY is remaining strong because its FX reserves (i.e., its national savings account denominated in foreign assets) are actually rising not falling.

Huh? Why? Where’s the money coming from?

Answer: Just about everywhere except for the dollar-led West.

That is, nations like China and Russia, who have been chomping at the bit for the last decade to de-dollarize, are now doing precisely that in the wake of recent moves by the West to weaponize the USD by freezing Russia’s FX reserves.

Myopic sanction chest-puffing by the West has given the East the perfect pretext to fight back financially and monetarily, and they are fighting to win a heating currency war.

No Dollars, Thank You

Specifically, countries wishing to purchase Chinese imports (i.e., commodities) now have to pre-convert and/or settle those purchases from local currencies into CNY rather than the once SWIFT-and-world-dominated USD.

In short, the USD is no longer the toughest guy in the room nor prettiest girl at the dance.

This is becoming more evident as headlines confirm Indian companies swapping USDs for Asian currencies, China and Saudi Arabia concluding energy deals outside the slowly dying (and forewarned) petrodollar, and the Russian Central Bank considering buying the currencies of friendly nations like Turkey, India and China.

As commodities like oil (priced-up 30% since 2018) leave places like China and Russia, they can now be purchased with local national currencies (Indian, Brazilian, Turkish) which are then converted into CNY.

This procedure adds massively to China’s FX reserves (especially when oil prices have been rising), thereby allowing its currency to stay strong despite massive capital outflows.

From Mono-Currency to Multi-Currency

In short, and despite Western attempts to flex its currency muscle via USD-driven sanctions, nations like Russia and China are now leading the charge from a one-currency world to a multi-currency world of import payments.

With its FX reserves frozen by the West, Russia, for example, can take its energy profits and Rubbles to purchase the currencies of friendly countries like China, India and Turkey to rebuild its reserves outside of the USD.

In this manner, and as I’ve repeatedly warned (in articles and interviews) since February of 2022, the West has shot itself and the world reserve currency in the foot.

The old world is slowly but surely turning irreversibly away from a USD-dominated currency system toward a multi-currency and multi-FX pricing model.

And as we head into winter, nations like the UK, Japan, Austria and Germany, who blindly towed the US line, will be feeling the cold pinch of backing the wrong policy as other nations stay warm/heated with oil and gas that can be bought outside of the old, USD-led system.

As energy prices continue to cripple the West, especially here in the EU, will such nations like the UK, Austria or Germany bend or stay firm?

Either way, the USD is the open loser over time, and will never be trusted as neutral currency again.

But agree or disagree, you may still be asking: What does any of this have to do with gold?

It Has Everything to do with Gold

As more nations turn away from the West (and the USD) and closer to the East (i.e., Russia) to meet their energy needs, how will they find the Rubles or Yuan to buy their oil, gas and other commodities?

After all, in the new, post-sanction, multi-FX importing model described above, Turkey can’t just buy Russian oil in Lira; it needs to first settle the trade in Rubles.

So, again, what currency will Turkey use?

From Petro-Dollar to Petro-Gold

John Brimelow, a consistently brilliant gold analyst, has given us a pretty obvious hint/answer: YTD Turkish gold imports are up 44% to nearly 70 tonnes, and can easily reach prior levels of 300 tonnes per annum.

In other words, Turkey could be dumping US dollars to buy gold at what we all know is a deliberately rigged (i.e., low) COMEX/LBMA price.

Turkey can then sell that gold to Russia’s central bank in exchange for Rubles “at a negotiated price” otherwise needed to purchase Putin’s oil.

Given that the physical oil market is nearly 15X the physical gold market, one can only imagine what further oil-for-gold transactions as per above will do for the rising price of a scarce asset like gold.

See the Sea of Change?

See how the USD is slowly losing its shine?

See why gold is slowly gaining in shine?

See how the US-led sanctions were the biggest political and financial policy gaffe since Kamala Harris tried to locate the Ukraine on a map?

See why the BIS/COMEX/OTC price fixing of gold earlier this year was the perfect (and artificial, legalized fraud) timing needed to keep gold cheap for other nations to buy?

Rhetorical Questions

Perhaps all this interest in gold rather than the USD explains Saudi Arabia’s recent push to refine gold within its own borders?

Perhaps this also explains why less-favored nations to the US (i.e., Nigeria and India) are launching a bullion exchange and opening gold trading?

Perhaps gold’s new roles are why the BIS, the biggest player (legalized scammer) in the paper price fixing of gold, has unwound nearly 90% of its gold swaps over the course of a year (from 502 to 56 tonnes)?

And perhaps gold’s stubborn significance further explains why the two biggest US gold price manipulators in the futures pits, JP Morgan and Citi, have been grotesquely expanding their gold derivative book (they own 90% of all US derivative bank gold) at the same time the BIS was unwinding their swaps?

Why?

Simple: To keep a boot to the neck of the natural gold price just a bit longer as they accumulate more of the same before the very currency system they helped ruin finally implodes?

Honest not Sensational: Gold’s Bull Market Has Yet to Even Begin

Given the dishonest times in which we live, and given all the mechanizations sited above, it would not be sensational to remind conventional investors what most gold investors already know: Gold is most honest and loyal when dishonest and disloyal markets implode.

Hedge fund managers and other candid analysts are collectively and already foreseeing massive market pain ahead, as Egon and I have been warning for years.

The big boys are now net-short US Equity futures:

Whether re-valued by oil, or simply re-valued by fiat currencies which have increasingly no value, gold can easily reach levels which current investors can’t imagine.

After Nixon’s debacle in 1971, gold surged 400% in just one year between 1973-74.

Watch the Foxes, not the Hen House

The TBTF banks have no morality in my mind. I’ve written of their open fraud for years.

Ever since folks like Larry Summers repealed Glass Steagall and turned banks into casinos and bankers into speculators (with depositor money), nothing the big banks do is either fair or fiduciary.

Ironically, however, it is fair to say that even these banks will be hoarding more physical gold (at currently repressed/rigged prices) as the world they created implodes under its own systemic sins.

And if JP Morgan or Citi is getting prepared, shouldn’t you?

After all, better a fox than a hen, no?

end

GOLD/SILVER

LAWRIE WILLIAMS: Gold far better performer ytd than equities or bitcoin

Investors in gold could be forgiven for regretting their decision given the yellow metal’s apparently fairly dismal price performance over the past few weeks and months, but consider this: Year to date gold has performed enormously better than most other asset classes. See the table below to view gold’s price performance so far this year in comparison with key U.S. stock market indexes and the bitcoin (BTC) price. This trend will mostly be matched in other global markets too.

It is always a little invidious to pick a specific point in time to make such comparisons. For example over the same period, silver has performed worse in percentage price terms than even the Dow and S&P, while the oil price has performed positively even though it has fallen back sharply in recent weeks. However we have picked the above in part because we are convinced that equities will remain on a downwards path, as the world and the U.S. economies fall deeper into recession while, in our view, there is an excellent chance that the gold price will move well into positive territory before the year end and maybe will drag silver up with it too, although the latter has a lot of ground to make up.

It is a holiday in the UK today, so perhaps European price movements will not be as representative as they might be normally. Yet the early trend has seen the gold price fall back a little further, while overnight Asian equity indexes followed their U.S. counterparts down strongly. European equities also opened weaker across the board as the likelihood of global recession strengthened. One doubts that any of this week’s data announcements will lead to a recovery, although the strength of Friday’s U.S. market falls may lead to a small knee-jerk recovery when markets there openEven so, some commentators think that the worst for general equity markets is yet to come with predictions that they could fall by another 50%. And as for bitcoin, expect another severe squeeze as discretionary investment income dries up in what is looking as though it might be a quite severe recession.

We have been anticipating that there could be a sharp impact on North American markets in any case once people are fully back at work after the holiday season is over – the U.S. Labor Day holiday at the beginning of September is seen as the season-end there. Once this happens we think equity markets and bitcoin will remain downbeat as evidence of a U.S. recession increases. Inflation, even if it has peaked, will remain a concern which could be positive for gold, which is seen as something of an inflation hedge, although high U.S. interest rates, if they continue, could serve as a counterbalance here.

Eyes will be on the Consumer Price Index (CPI) data for August, due to be announced on September 13th, which will be an excellent indicator of an inflation peak, or otherwise, but one will need to look at the core level in particular to make a judgement. As the year progresses, the year-on-year rate is certain to come down anyway, as overall inflation rates were already beginning to rise sharply in the final few months of 2021. Bullish commentators tend to seize on differences in the year-on-year figures to make their case, but this can be very misleading. It has to be the core inflation level that should set the tone.

29 Aug 2022

END

3.Chris Powell of GATA provides to us very important physical commentaries

Mooney wants to know why the uSA mint is underproducing silver eagles

(MMN/zerohedge)

Congressman faults U.S. Mint’s underproduction of Silver Eagles, wants answers

Submitted by admin on Fri, 2022-08-26 10:05Section: Daily Dispatches

From Money Metals News Service, Eagle, Idaho
Friday, August 26, 2022

WASHINGTON — U.S. Rep. Alex Mooney, R-West Virginia, is calling out U.S. Treasury Secretary Janet Yellen and U.S. Mint Director Ventris Gibson for the “long-running production slowdown” in the Silver American Eagle bullion coin program that has caused “shortages and dramatically higher market prices for this iconic silver coin as compared to its peers worldwide.”

Many Americans have sought to hedge against high rates of inflation by acquiring hard assets, including gold and silver. Overall market demand for bullion coins, bars, and rounds has risen to higher levels than seen in recent years, if not ever.

Most gold and silver bullion forms do not carry much markup (also known as “premium”) over the actual market value of the metal itself, thereby enabling investors to acquire more precious metal for each dollar they invest.

However, this has not been the case with the Silver American Eagle since 2020, causing it to become known in some circles as “the most overrated silver coin in the world.” …

… For the remainder of the report:

https://www.moneymetals.com/news/2022/08/26/congressman-criticizes-us-mints-management-of-silver-american-eagle-program-demands-answers-002581

end

How Russia is accumulating gold with their 30% discount of oil

(MoscowTimes/GATA)

Russia redirects gold exports to China with 30% discount

Submitted by admin on Fri, 2022-08-26 22:43Section: Daily Dispatches

Russian Gold Rerouted to China Amid Western Ban

From The Moscow Times
Amsterdam, Netherlands
Friday, August 26, 2022

https://www.themoscowtimes.com/2022/08/26/russian-gold-rerouted-to-china-amid-western-ban-a78660

Russia has significantly ramped up gold exports to China as Western governments closed their markets to the precious metal over the war in Ukraine, media outlet RBC reported today, citing Chinese customs data.

China imported $108.8 million worth of Russian gold in July — a 750% increase from June and a 4,800% increase from the same month last year.

Market experts interviewed by RBC said they believed that Russia, the second-largest gold producer at more than 300 tons per year, is selling its gold to China with a discount of up to 30%.

Other experts speculated that China, one of the top bullion buyers, may be just one of several important new destinations for Russian gold in Asia and the Middle East. 

The United Arab Emirates, which has not released data on Russian gold imports in 2022, was named by those interviewed by RBC as a hub for disguising the precious metal’s country of origin.

The U.S., United Kingdom, Canada, and Japan banned Russian gold exports in June. The European Union and Switzerland, a major gold hub with a traditionally neutral stance, followed suit last month. 

RBC said Chinese customs data was the first set of figures to reveal how Russian gold exports are being rerouted east.

Russia classified its customs data after Western sanctions over its invasion of Ukraine caused significant economic problems.

end

A good paper:  the Fed cannot fix fiscal driven inflation

(Boesler/Bloomberg)

Fed can’t fix fiscal-driven inflation, Jackson Hole paper says

Submitted by admin on Sat, 2022-08-27 10:56Section: Daily Dispatches

By Matthew Boesler
Bloomberg News
Saturday, August 27, 2022

The Federal Reserve won’t be able to curb inflationary pressures because they are rooted in expansionary fiscal policy, according to a paper presented today at the central bank’s annual Jackson Hole conference.

“That approximately half of the recent increase in inflation has fiscal roots poses some specific challenges for policy makers today.

“Not only fiscal inflation tends to be highly persistent but it also requires a different policy response,” wrote the paper’s authors, Francesco Bianchi of Johns Hopkins University and Leonardo Melosi of the Chicago Fed. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2022-08-27/fed-can-t-fix-fiscal-driven-inflation-jackson-hole-pape

end

The case of the missing $650 billion SDR;s issued in 2021

(Jan/GATA)

Jan Nieuwenhuijs: What happened to the $650 billion in SDRs issued last year?

Submitted by admin on Sat, 2022-08-27 11:13Section: Daily Dispatches

11a ET Saturday, August 27, 2022

Dear Friend of GATA and Gold:

Gold researcher Jan Nieuwenhuijs this week closely examined the Special Drawing Rights that are issued by the International Monetary Fund and concluded that the August 2021 issuance of 456 billion new SDRs did not really “boost global liquidity,” the supposed purpose of the undertaking.

Rather, Nieuwenhuijs writes, the issuance of those SDRs was meant mainly to provide the IMF itself with some reason for being and to sustain the interest payments the agency receives from issuing SDRs. 

SDRs, Nieuwenhuijs writes, are not so liquid and there is little market for them. He concludes: “The SDR will never be more than a fringe reserve asset, and thus can’t replace the dollar as the world reserve currency, as some economists want to believe.”

Nieuwenhuijs’ analysis is headlined “What Happened to the $650 Billion in SDRs Issued in 2021?” and it’s posted at Gainesville Coins here:

https://www.gainesvillecoins.com/blog/what-happened-650-billion-sdrs-issued-2021

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

end

4. OTHER GOLD/SILVER COMMENTARIES

-END-

.

end

5.OTHER COMMODITIES:

COMMODITIES IN GENERAL/COAL

END

6.CRYPTOCURRENCIES

7. GOLD/ TRADING

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings MONDAY morning 7:30 AM

ONSHORE YUAN: CLOSED DOWN 6.9179

OFFSHORE YUAN: 6.9192

HANG SENG CLOSED DOWN 146.82 PTS OR  0.73%

2. Nikkei closed DOWN 762.42 OR  2.66%

3. Europe stocks   CLOSED ALL RED 

USA dollar INDEX  DOWN TO  108.73/Euro RISES TO 0.9985

3b Japan 10 YR bond yield: RISES TO. +.239/ !!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 138.60/JAPANESE FALLING APART WITH YEN FALTERING AS WELL AS LONG TERM YIELDS RISING BREAKING THE JAPANESE CENTRAL BANK.

3c Nikkei now  ABOVE 17,000

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

3e Gold DOWN /JAPANESE Yen DOWN CHINESE YUAN:   DOWN -//  OFF- SHORE: DOWN

3f 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. EIGHTY percent of Japanese budget financed with debt.

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +1.490%/Italian 10 Yr bond yield RISES to 3.78% /SPAIN 10 YR BOND YIELD RISES TO 2.68%…

3i Greek 10 year bond yield RISES TO 4.02//

3j Gold at $1745.00 silver at: 19.23  7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0  AND 26/100        roubles/dollar; ROUBLE AT 60.23//

3m oil into the 93 dollar handle for WTI and  101 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 136.39DESTROYING 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 9682– as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9671well 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.

USA 10 YR BOND YIELD: 3.114  UP 8  BASIS PTS

USA 30 YR BOND YIELD: 3.247 UP 4 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 18,18

Overnight:  Newsquawk and Zero hedge:

 FIRST, ZEROHEDGE

Futures, Global Markets Tumble As Central Bankers Plan To Push World Into Coordinated Recession

MONDAY, AUG 29, 2022 – 07:54 AM

Market sentiment has only deteriorated after Friday’s sharp post-Powell/ECB dump, and investors started the week with the bear market rally in tatters after the world’s biggest central banks huddled around a simple message in Jackson Hole this weekend: they are ready to fight runaway inflation with higher interest rates, even if it does some damage (in other words they want to crush demand, even as Biden’s debt relief plan and Inflation Reduction Plan hopes to stimulate demand). Powell quashed the idea of an early dovish Fed pivot (ensuring a much more forceful one later once all EMs fully blow up on the back of the soaring USD) and also said on Friday that the road ahead will “bring some pain to households and businesses” in the US, an “unfortunate cost of bringing down inflation” while ECB’s Isabel Schnabel said she and her colleagues had “little choice” but to continue tightening even if Europe’s economy tips into recession, which is becoming increasingly likely. As expected, Senator Liz Warren said she was worried the central bank will tilt the US economy into a recession, but for now Biden still thinks that soaring inflation polls worse than recession and/or global depression.

In any case, Powell’s signal of higher-for-longer interest rates rocked market on Friday and then followed through in Asia and Europe on Monday, sinking stocks and equity futures. S&P 500 futures slipped 1% as of 715 a.m. New York time, while Nasdaq futures tumbled 1.3%, as swaps traders boosted their expectation for where the Fed rate will be a year from now to 3.82%, from 3.68% a week ago.

Some more dismal data: the S&P 500 just posted its worst week since July and virtually all members tumbled Friday. Major indexes dipped below their 100-day price averages, which could indicate the potential for more losses. And the one-month percentage price change for all major indexes is negative. As Bloomberg puts it, the message is clear: interest rates will stay higher for some time, reducing the possibility of a soft landing.

Amid the rate back-up, 2Y Treasury yields rose to the highest since 2007, stopping just shy of 3.50%…

… as Bonds in Europe also tumbled with Germany’s 10-year yield rising above 1.5% after a string of European Central Bank officials also stressed over the weekend the need to act more forcefully to quash record inflation, effectively assuring that Europe will be pushed into recession or worse. The Bloomberg Dollar Spot Index pushed toward the record hit last month as investors sought a haven from spiking volatility. Commodity-linked currencies as well as the yen, the pound and the offshore yuan were under pressure. Bitcoin broke below the $20,000 level some view as a marker of a deeper slide in investor sentiment. Gold retreated, but oil made gains on supply risks.

In premarket trading, markets are honing in on the possibility of an economic slowdown: cyclical companies such as Freeport McMoran, Dow, Nucor and Ford are among the bigger decliners while shares of major US technology and internet stocks such as Tesla and Amazon.com also sharply lower with the group on track to extend a sharp selloff from Friday. Apple and Amazon each fall 1.3%, Nvidia 1.2%, Meta Platforms -1.1%, Microsoft -1%, Alphabet -1%.

  • Cryptocurrency-exposed stocks may be active on Monday after Bitcoin extended its drop below $20,000 as part of a wider market retreat, amid concern about the Federal Reserve’s rate- hike path. Keep an eye on Marathon Digital (MARA US), MicroStrategy (MSTR US), Coinbase (COIN US), Bit Digital (BTBT US), Ebang (EBON US), Riot Blockchain (RIOT US), and Silvergate Capital (SI US)
  • VBI Vaccines (VBIV US) is down 9.7% in US premarket trading after entering into a sales agreement for possible offering of up to $125 million in shares from time to time via Jefferies on Friday.
  • Watch Walmart (WMT US) stock as the retailer proposed to buy all of the shares in its South African unit Massmart it doesn’t already own for 62 rand apiece, a 53% premium to the last closing price.
  • Minerva Neurosciences (NERV US) shares rise 2.6% in US premarket trading after gaining more than 150% last week as it applied to the FDA for approval of its schizophrenia drug candidate and Point72 Asset Management disclosed an 8.8% passive stake in the stock.

“We maintain our view that the Fed will raise rates by another 100 basis points by year-end, with risks for more if inflation does not slow in line with our forecasts,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. “With rates likely to stay higher for longer, our base case is for further volatility, earnings downgrades, and higher-than-expected default rates over the course of the next year.

European equities also tumbled on Monday, adding to last week’s selloff amid concerns about the economic impact from further central bank tightening, which officials embraced in Jackson Hole. The Stoxx Europe 600 slid 1.2% with technology stocks underperforming as bond yields rose. Utilities also fell after comments from French Prime Minister Elisabeth Borne over the weekend heightened unease that a windfall tax could be imposed on “super profits.” UK markets were shut for a holiday. The benchmark has slumped to the lowest since July 21, breaking below its 50-day moving average, as worries about a downturn intensified after central bank officials said they are ready to follow through with higher interest rates, even if it does some damage. The region already faces a flurry of other headwinds, such as the prospects of gas rationing and political turmoil in Italy and the UK.  Here are some of the biggest European movers today:

  • Utilities are among the worst performing sub-sectors in Europe after comments from French Prime Minister Elisabeth Borne over the weekend heightened windfall tax concerns on “super profits”
  • Technology stocks underperform all other sectors in the Stoxx 600 after central bank officials signaled they’re ready to follow through with higher interest rates, and as bond yields rose
  • Bavarian Nordic falls as much as 15% after White House monkeypox coordinator Robert Fenton said after market close on Friday that the US has nearly all the monkeypox vaccines it needs
  • Cryptocurrency-exposed stocks suffer on Monday after Bitcoin extended its drop below $20,000 as part of a wider market retreat, amid concern about the Federal Reserve’s rate- hike path
  • BW LPG shares fall as much as 13.2% after the Norwegian LPG published 2Q results. Analysts note a soft report with a miss on adjusted Ebitda, and some exposure to prices on the 3Q spot market
  • SAS shares slide as much as 17% after DNB cut its PT for the ailing Scandinavian airliner to SEK0.05 from SEK0.10, seeing “significant dilution” on the back of its Chapter 11 proceedings

Tech firms led losses for Asian equities, while progress in the US-China delisting spat helped to cushion Chinese stocks. Emerging-market stocks dropped and a gauge of major developing-nation currencies slumped by the most in more than two months.

In FX, the Bloomberg Dollar Spot Index rose to six-week high as the greenback advanced versus all of its Group-of-10 peers, and pushed toward the record hit last month as investors sought a haven from spiking volatility. The euro fell a second day but remained in its recent $0.99-1.00 range. The euro is trading close to its cycle lows, yet options show that bearish sentiment for the common currency is becoming steadily lower. The yen tumbled as much as 1% back toward the 140 per dollar level as the impact of hawkish Federal Reserve comments at Jackson Hole weighed on Japan’s currency. Signs from the option market suggested a renewed bias toward yen weakness on the part of asset managers, who boosted their net-short position by the most on record in the week to Aug. 23. Australia’s dollar fell for a second day as momentum accounts price in a more hawkish Fed after Jerome Powell’s speech at Jackson Hole. Sovereign bonds declined. Australian retailers powered further ahead in July, suggesting cashed-up households are coping well with rapid interest-rate increases. The yuan weakened to fresh two-year lows after Powell signaled higher-for-longer interest rates, prompting China’s central bank to set a stronger-than-expected fixing to cap the currency’s drop.  South Korea’s won led declines, falling 1.4%, while the Thai baht slipped 1%. “The market has not been hawkish enough on the Fed’s path,” says Stephen Chiu, chief Asia FX & rates strategist at Bloomberg Intelligence in Hong Kong. “Last week’s deluge of Fed speakers including Powell basically told the market to retune their view. But we believe still not enough hawkishness is priced in. So the dollar may continue to rise versus Asian currencies.” Bank of Korea Governor Rhee Chang-yong said he would join the Fed in focusing on inflation if prices remain out of control, keeping the door open for another outsized rate hike

In rates, Treasuries remained under pressure but are off the cheapest levels of the session; the US 2-Year yield, sensitive to expectations around Fed policy, hit 3.47% in Asian trading, the highest since the global financial crisis. The 10-year yield climbed to about 3.10%. UK markets are closed for bank holiday. US yields higher by 4bp-8bp, 10-year by ~6bp at 3.10%, with most euro-zone 10-year yields higher on the day by at least 9bp. 2-year rose as much as 8.4bp to 3.48%, highest since 2007, exceeding its June 14 high by about 3bp. In early US trading, swaps referencing Fed meeting dates once again give higher than 50% odds to another 75bp rate hike at September meeting. European bonds lead the selloff following hawkish rhetoric from ECB officials over the weekend. while paring odds of rate cuts in 2023. IG credit issuance remains moribund, with lull expected to last through US Labor Day holiday Sept. 6.

Bitcoin tumbled below $20,000 amid broader tightening fears; in addition, Reuters reported that the Monetary Authority of Singapore is considering further measures to reduce the harm to consumers from cryptocurrency trading and MAS will issue public consultation on new measures by October.

In commodities, gold retreated, but oil made gains on supply risks.  WTI and Brent contracts have been choppy on the first trading day of the week; gains are capped by risk aversion. Spot gold remains pressured under its 21 DMA (1,766/oz), 50 DMA (1,763/oz) and 10 DMA (1,749/oz). Copper declined in APAC hours, whilst the LME is closed today due to the UK bank holiday. Meanwhile, European natural gas prices plunged the most since March after Germany said its gas stores are filling up faster than planned ahead of winter.

It’s a quiet start to the week, with just the Dallas Fed report due at 10:30am.

Market Snapshot

  • S&P 500 futures down 0.8% to 4,025.25
  • STOXX Europe 600 down 1.0% to 421.91
  • MXAP down 2.2% to 157.01
  • MXAPJ down 1.9% to 515.30
  • Nikkei down 2.7% to 27,878.96
  • Topix down 1.8% to 1,944.10
  • Hang Seng Index down 0.7% to 20,023.22
  • Shanghai Composite up 0.1% to 3,240.73
  • Sensex down 1.2% to 58,132.18
  • Australia S&P/ASX 200 down 2.0% to 6,965.49
  • Kospi down 2.2% to 2,426.89
  • German 10Y yield lup 13 bps to 1.52%
  • Euro down 0.4% to $0.9924
  • Brent futures up 0.2% to $101.24/bbl
  • Gold spot down 0.9% to $1,721.81
  • US Dollar Index up 0.53% to 109.38

Top Overnight News from Bloomberg

  • Top officials from the world’s biggest central banks coalesced around a simple message in Jackson Hole this weekend: They are ready to follow through with higher interest rates, even if it does some damage
  • Federal Reserve Chair Jerome Powell’s stern message at Jackson Hole has made it clear for Bank of Japan Governor Haruhiko Kuroda that the weaker yen, a major source of concern for Japan’s economy, won’t be going away anytime soon
  • The ECB is prepared to at least repeat the half-point increase in interest rates it delivered last month, with an even bigger move not to be excluded as inflation nears yet another record. That’s the message from ECB officials who joined the Federal Reserve’s annual Jackson Hole symposium, which wrapped up Saturday
  • The rally that’s bolstered risk assets over the past month was just a blip in a bear market that’s likely to worsen from here. That’s the view of investors who seem to be finally getting the message that a resolutely hawkish Federal Reserve and central bank peers are planning to raise interest-rates at all costs to combat the hottest inflation in a generation
  • German Power for next year, the European benchmark, broke through 1,000 euros ($993) for the first time as the region’s energy crisis intensifies
  • Poland’s central bank may end or at least pause its series of interest-rate increases as early as the next week’s policy meeting, Governor Adam Glapinski said, adding that a turning point is near
  • The Swedish Debt Office has decided to wind up a strategic position in the Swedish krona against the euro as “major changes” have occurred in the global economy, which has altered the conditions for the position in terms of cost and risk
  • Swedish housing prices will continue falling until the middle of next year as the share of household income that goes toward mortgage interest payments is set to double, economists at the Nordic region’s largest bank said in a new forecast
  • China is enforcing lockdown restrictions in areas around Beijing more intensively, and will mass test the nearby port city of Tianjin, stepping up its quest to wipe out Covid-19 ahead of a key meeting of the Communist Party’s top leaders

A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks took their cue from Friday’s sell-off on Wall St amid higher yields and following hawkish central bank rhetoric from Jackson Hole including from Fed Chair Powell. ASX 200 was pressured as underperformance in tech led the declines across all sectors and with better-than-expected Retail Sales doing little to brighten the mood. Nikkei 225 gapped beneath the 28K level and shed around 800 points despite a weaker currency and reports of a potential further easing of COVID restrictions. Hang Seng and Shanghai Comp declined at the open although losses in the mainland were stemmed after Sichuan resumed power to most industries and participants digested a deluge of earnings releases, while the US and China reached a preliminary agreement on audit inspections. Agricultural Bank of China (1288 HK) – H1 2022 (CNY): net profit 128.95bln vs. prev. Y/Y 122.3bln. Will support local government efforts to complete construction of properties.

Top Asian News

  • Chinese authorities informed the US Department of Agriculture that Chinese customs will suspend meat imports transported by Tyson Fresh Meat (TSN) from Monday after its pig trotters failed inspection, according to Global Times.
  • Huaqiangbei, China has been ordered to shut between Monday and Thursday to contain a new COVID outbreak, via SCMP.
  • Moody’s affirms China at A1, maintains Stable outlook. Driven by assessment that core strengths of the credit profile are likely to remain in the medium-term.

European bourses are under pressure amid the weekend’s central bank hawkishness, Euro Stoxx 50 -1.5%; note, FTSE 100 away for a Bank Holiday. US futures are similarly subdued, ES -1.0%, in tandem with Europe as specific updates are somewhat limited ahead of a packed week of data. Qualcomm (QCOM) – USD 991mln fine against the Co. which was rejected by an EU court will not be appealed by EU antitrust regulator, according to Reuters sources

Top European News

  • UK Tory leadership frontrunner Truss is reportedly mulling cutting the 20% VAT by 5% across the board to help ease the cost-of-living pressures under a nuclear option, while other options include a more modest 2.5% reduction, according to a source cited by The Telegraph. Furthermore, Truss is under renewed pressure to outline the cost-of-living support with Tory MPs voicing increasing concerns regarding the impact of higher energy prices on households and small businesses, according to FT.
  • A senior economist warned that UK Foreign Secretary and Tory leadership front runner Truss’s plan to cut tens of billions of pounds in VAT would crash public finances, according to The Times citing the Institute of Fiscal Studies Director.
  • UK corner shops are calling for government support to offset energy costs and have warned that thousands risk going out of business if the government doesn’t provide support, according to FT.
  • Goldman Sachs sees the UK economy entering a recession in Q4 and said the recession will be mild, while it lowered its 2022 GDP forecast to 3.5% from 3.7% and the 2023 GDP forecast to 0.6% from 1.1%.
  • S&P affirmed Austria at AA+; Outlook revised to Stable from Positive.

Central Banks

  • ECB’s Schnabel said both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high and said that central banks need to act forcefully in this environment, according to Reuters.
  • ECB’s Villeroy said a significant rate increase is needed in September and that they should get rates to neutral by year-end with neutral somewhere between 1.00%-2.00%, according to Reuters.
  • ECB’s Kazaks said the ECB should discuss 50bps and 75bps hikes in September and that a 50bps rate increase is the least the bank should do, while he added that Euro zone recession risk is substantial and a technical recession is likely, according to Reuters.
  • ECB’s Rehn said its action time for the ECB with a weak Euro a key point and that a ‘significant’ hike in interest rates is needed in September, while he added it is too early to publicly discuss quantitative tightening, according to Bloomberg.
  • SNB’s Jordan said there is no need to adjust the definition of price stability or broaden SNB’s mandate, while he added they are prepared to act decisively if price stability is at threat and that unconventional monetary policy instruments are likely to continue to have an important part to play in Switzerland, according to Reuters.
  • BoJ Governor Kuroda reiterated the view regarding transitory inflation in Japan in which he stated they have 2.4% inflation but is almost wholly caused by rising international commodity and food prices, while they expect inflation to approach 2% or 3% by year-end but decelerate again to 1.5% next year.
  • BoK Governor Rhee said it is premature to say inflation has peaked and that rates will increase until it is clear that inflation is falling. Rhee also commented they will intervene in FX markets if speculative forces are seen and that the KRW’s movement is in line with EUR and other major currencies, while he noted that a weakening KRW from the rally in USD is a bad factor for inflation and that BoK policy tightening is unlikely to end before the Fed, according to Reuters.

FX

  • DXY printed a fresh YTD peak just shy of 109.50 overnight as APAC players reacted to the Jackson Hole Symposium, but the index then pulled back below 109.
  • G10s are pressured to varying degrees but EUR/USD has been trimming losses though remains under parity as the DXY wanes.
  • JPY is the clear laggard as the widening FOMC-BoJ pricing lifted USD/JPY to test 139.00 to the upside, ahead of the YTD peak at 139.39.
  • The Yuan was in focus in APAC hours as USD/CNH topped 6.9000 before finding resistance around 6.9300.

Fixed Income

  • EGBs slump following weekend Central Bank updates from ECB officials which follow on from and continue the tone of Friday’s hawkish sources
  • At worst, Bunds lower by over 200 ticks while USTs have stabilised somewhat near lows of 116.26+ with yield curves elevated but somewhat mixed directionally.

Commodities

  • WTI and Brent contracts have been choppy on the first trading day of the week; gains are capped by risk aversion.
  • Spot gold remains pressured under its 21 DMA (1,766/oz), 50 DMA (1,763/oz) and 10 DMA (1,749/oz).
  • Copper declined in APAC hours, whilst the LME is closed today due to the UK bank holiday.
  • Austrian Chancellor Nehammer called for an EU-wide cap on power prices and said they must decouple the price of electricity from the gas price and bring it closer to actual production costs, while he added that they must finally stop the madness that is occurring in energy markets and cannot let Russian President Putin determine the European power price, according to Reuters.
  • US temporarily waived truck driver hours of service rules to transport fuel to Illinois, Indiana, Michigan and Wisconsin following the unanticipated shutdown of BP’s Whiting refinery, according to Reuters.
  • Ukraine PM Shmyhal said Ukraine will permit merchant sailors to leave Ukraine if they receive approval from their local military administrative body, according to Reuters.
  • UN Coordinator for the Black Sea Grain Initiative said Ukrainian silos are still stocked with millions of tonnes from previous harvests and that much more grains need to shift to provide room for the new harvest, according to Reuters.

US Event Calendar

  • 10:30: Aug. Dallas Fed Manf. Activity, est. -12.7, prior -22.6
  • 14:15: Fed’s Brainard speaks at a FedNow workshop

AND NOW NEWSQUAWK

Weekend ECB hawkishness pressures debt and equities though EUR fails to benefit – Newsquawk US Market Open

Newsquawk Logo

MONDAY, AUG 29, 2022 – 06:38 AM

  • European bourses are under pressure amid the weekend’s central bank hawkishness, Euro Stoxx 50 -1.5%; note, FTSE 100 away for a Bank Holiday.
  • US futures are similarly subdued, ES -1.0%, in tandem with Europe as specific updates are somewhat limited ahead of a packed week of data.
  • DXY neared 109.50 but has since pulled back below the 109.00 mark with peers under pressure across the board and the JPY lagging.
  • EGBs slump following weekend Central Bank updates from ECB officials which follow on from and continue the tone of Friday’s hawkish sources
  • Crude contracts have been choppy on the first trading day of the week, awaiting JCPOA/Nord Stream updates
  • Looking ahead, highlights include ECB’s Lane & Fed’s Brainard, UK Bank Holiday.

For the full report and more content like this check out Newsquawk.

Try a 14 day trial with Newsquawk and hear breaking trading news as it happens.

As of 11:15BST/06:15ET

LOOKING AHEAD

  • ECB’s Lane & Fed’s Brainard, UK Bank Holiday.
  • Click here for the Week Ahead preview.

GEOPOLITICS

RUSSIA-UKRAINE

  • Russian Defence Ministry said on Saturday that Ukrainian forces shelled the Zaporizhzhia nuclear power plant three times over 24 hours and that Russian ground-based artillery destroyed a large ammunition depot in the Dnipropetrovsk region containing US-made HIMARS rockets and shells for the M777, according to Reuters. It was also reported that Russian air forces hit a Motor Sich factory in Ukraine’s Zaporizhzhia region where helicopters were being repaired, according to RIA citing the Defence Ministry.
  • US State Department said Russia decided to block consensus on the final document at the conclusion of the 10th review conference of the nuclear non-proliferation treaty after weeks of talks as it did not want to acknowledge the grave radiological risk at the Zaporizhzhia nuclear power plant in Ukraine, according to Reuters.
  • EU is to suspend the visa travel agreement on preferential treatment with Russia as a first step to curb Russian travel permits, according to FT. There were also comments from EU’s foreign policy chief Borrell that he doesn’t think a visa ban for all Russians would have the required unanimity among EU foreign ministers, according to ORF TV.
  • IAEA mission has not informed Russian-backed authorities about the visits to Zaporizhzhya nuclear power plant, according to a Russian-backed official.
  • Russian Defence Ministry says Ukraine attempted to attack the Zaporizhzhia nuclear plant with a drone that was shot down near the nuclear waste enclosure, via Tass; no serious damage to the nuclear plant.

CHINA-TAIWAN

  • US officials said that two US Navy warships passed through the Taiwan Strait which was the first time since the heightened tensions from House Speaker Pelosi’s visit to Taiwan and National Security Council spokesperson Kirby said the transition through the Taiwan Strait was very consistent with the US policy of a free and open Indo-Pacific. There were also comments from China’s military that it was monitoring US Navy vessels sailing through the Taiwan Strait and it is maintaining a high alert and is ready to defeat any provocations, according to Reuters.
  • Taiwan Defence Ministry said China is still carrying out military activities around the island and that it detected 23 Chinese aircraft and 8 Chinese ships around Taiwan on Sunday, according to Reuters.
  • UK Foreign Secretary Truss is to declare China an official security threat under plans for a tougher approach to Beijing, according to The Times.
  • Russia and China will conduct a series of military exercises this week in a sign of deepening ties between the two nations, according to FT.

IRAN

  • Iran state-run Nour News said it would take until at least September 2nd to respond to US comments on an EU-drafted text aimed at salvaging the 2015 pact as it carefully reviews the US’ response at the expert level.
  • Iranian President says Iran is determined to broaden cooperation with China in various fields, via Tehran Times; “We are in the process of completing the procedures for obtaining full membership in the Shanghai Economic Cooperation Organization”. Adds, a meeting with US President Biden is “futile and useless”.
  • WSJ’s Norman writes, on the commentary from Iranian President Raisi re. JCPOA that “…there’s a hint here he’s unhappy with safeguards language in the EU text & wants to push again for a guarantee.” Adds, “That looks awfully like demanding an upfront guarantee that safeguards probe will be resolved in the JCPOA revival text. IF that’s where Iran now is, then we’ve come full circle back to start of Vienna talks & deal looks far less likely. “

CENTRAL BANKS

  • ECB’s Schnabel said both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high and said that central banks need to act forcefully in this environment, according to Reuters.
  • ECB’s Villeroy said a significant rate increase is needed in September and that they should get rates to neutral by year-end with neutral somewhere between 1.00%-2.00%, according to Reuters.
  • ECB’s Kazaks said the ECB should discuss 50bps and 75bps hikes in September and that a 50bps rate increase is the least the bank should do, while he added that Euro zone recession risk is substantial and a technical recession is likely, according to Reuters.
  • ECB’s Rehn said its action time for the ECB with a weak Euro a key point and that a ‘significant’ hike in interest rates is needed in September, while he added it is too early to publicly discuss quantitative tightening, according to Bloomberg.
  • SNB’s Jordan said there is no need to adjust the definition of price stability or broaden SNB’s mandate, while he added they are prepared to act decisively if price stability is at threat and that unconventional monetary policy instruments are likely to continue to have an important part to play in Switzerland, according to Reuters.
  • BoJ Governor Kuroda reiterated the view regarding transitory inflation in Japan in which he stated they have 2.4% inflation but is almost wholly caused by rising international commodity and food prices, while they expect inflation to approach 2% or 3% by year-end but decelerate again to 1.5% next year.
  • BoK Governor Rhee said it is premature to say inflation has peaked and that rates will increase until it is clear that inflation is falling. Rhee also commented they will intervene in FX markets if speculative forces are seen and that the KRW’s movement is in line with EUR and other major currencies, while he noted that a weakening KRW from the rally in USD is a bad factor for inflation and that BoK policy tightening is unlikely to end before the Fed, according to Reuters.

EUROPEAN TRADE

EQUITIES

  • European bourses are under pressure amid the weekend’s central bank hawkishness, Euro Stoxx 50 -1.5%; note, FTSE 100 away for a Bank Holiday.
  • US futures are similarly subdued, ES -1.0%, in tandem with Europe as specific updates are somewhat limited ahead of a packed week of data.
  • Qualcomm (QCOM) – USD 991mln fine against the Co. which was rejected by an EU court will not be appealed by EU antitrust regulator, according to Reuters sources
  • Click here for more detail.

FX

  • DXY printed a fresh YTD peak just shy of 109.50 overnight as APAC players reacted to the Jackson Hole Symposium, but the index then pulled back below 109.
  • G10s are pressured to varying degrees but EUR/USD has been trimming losses though remains under parity as the DXY wanes.
  • JPY is the clear laggard as the widening FOMC-BoJ pricing lifted USD/JPY to test 139.00 to the upside, ahead of the YTD peak at 139.39.
  • The Yuan was in focus in APAC hours as USD/CNH topped 6.9000 before finding resistance around 6.9300.
  • Click herefor more detail.

Notable FX Expiries, NY Cut:

  • Click here for more detail.

FIXED INCOME

  • EGBs slump following weekend Central Bank updates from ECB officials which follow on from and continue the tone of Friday’s hawkish sources
  • At worst, Bunds lower by over 200 ticks while USTs have stabilised somewhat near lows of 116.26+ with yield curves elevated but somewhat mixed directionally.
  • Click here for more detail.

COMMODITIES

  • WTI and Brent contracts have been choppy on the first trading day of the week; gains are capped by risk aversion.
  • Spot gold remains pressured under its 21 DMA (1,766/oz), 50 DMA (1,763/oz) and 10 DMA (1,749/oz).
  • Copper declined in APAC hours, whilst the LME is closed today due to the UK bank holiday.
  • Austrian Chancellor Nehammer called for an EU-wide cap on power prices and said they must decouple the price of electricity from the gas price and bring it closer to actual production costs, while he added that they must finally stop the madness that is occurring in energy markets and cannot let Russian President Putin determine the European power price, according to Reuters.
  • US temporarily waived truck driver hours of service rules to transport fuel to Illinois, Indiana, Michigan and Wisconsin following the unanticipated shutdown of BP’s Whiting refinery, according to Reuters.
  • Ukraine PM Shmyhal said Ukraine will permit merchant sailors to leave Ukraine if they receive approval from their local military administrative body, according to Reuters.
  • UN Coordinator for the Black Sea Grain Initiative said Ukrainian silos are still stocked with millions of tonnes from previous harvests and that much more grains need to shift to provide room for the new harvest, according to Reuters.
  • Click here for more detail.

NOTABLE HEADLINES

  • UK Tory leadership frontrunner Truss is reportedly mulling cutting the 20% VAT by 5% across the board to help ease the cost-of-living pressures under a nuclear option, while other options include a more modest 2.5% reduction, according to a source cited by The Telegraph. Furthermore, Truss is under renewed pressure to outline the cost-of-living support with Tory MPs voicing increasing concerns regarding the impact of higher energy prices on households and small businesses, according to FT.
  • A senior economist warned that UK Foreign Secretary and Tory leadership front runner Truss’s plan to cut tens of billions of pounds in VAT would crash public finances, according to The Times citing the Institute of Fiscal Studies Director.
  • UK corner shops are calling for government support to offset energy costs and have warned that thousands risk going out of business if the government doesn’t provide support, according to FT.
  • Goldman Sachs sees the UK economy entering a recession in Q4 and said the recession will be mild, while it lowered its 2022 GDP forecast to 3.5% from 3.7% and the 2023 GDP forecast to 0.6% from 1.1%.
  • S&P affirmed Austria at AA+; Outlook revised to Stable from Positive.

NOTABLE US HEADLINES

  • US Senator Warren said she is very worried that the Fed will tip the economy into a recession and said that high prices and millions of people out of work are worse than high prices and a strong economy, according to Reuters.
  • White House believes new COVID-19 vaccines will be key in controlling a potential surge in the fall and a new COVID-19 booster shot campaign is anticipated to begin in early September.
  • Tesla (TSLA) CEO Musk says “we do need to use oil and gas in the short term”, some additional oil and gas exploration is warranted. Thinks by 2030 almost half of all cars made will be electric; thinks some 80% will be electric by 2035. Hopes to announce another TSLA plant location this year, no shortage of battery raw materials.
  • Click here for the US Early Morning Note.

CRYPTO

  • Monetary Authority of Singapore is considering further measures to reduce the harm to consumers from cryptocurrency trading and MAS will issue public consultation on new measures by October, according to Reuters.

APAC TRADE

  • APAC stocks took their cue from Friday’s sell-off on Wall St amid higher yields and following hawkish central bank rhetoric from Jackson Hole including from Fed Chair Powell.
  • ASX 200 was pressured as underperformance in tech led the declines across all sectors and with better-than-expected Retail Sales doing little to brighten the mood.
  • Nikkei 225 gapped beneath the 28K level and shed around 800 points despite a weaker currency and reports of a potential further easing of COVID restrictions.
  • Hang Seng and Shanghai Comp declined at the open although losses in the mainland were stemmed after Sichuan resumed power to most industries and participants digested a deluge of earnings releases, while the US and China reached a preliminary agreement on audit inspections.
  • Agricultural Bank of China (1288 HK) – H1 2022 (CNY): net profit 128.95bln vs. prev. Y/Y 122.3bln. Will support local government efforts to complete construction of properties.

NOTABLE APAC HEADLINES

  • Chinese authorities informed the US Department of Agriculture that Chinese customs will suspend meat imports transported by Tyson Fresh Meat (TSN) from Monday after its pig trotters failed inspection, according to Global Times.
  • Huaqiangbei, China has been ordered to shut between Monday and Thursday to contain a new COVID outbreak, via SCMP.
  • Moody’s affirms China at A1, maintains Stable outlook. Driven by assessment that core strengths of the credit profile are likely to remain in the medium-term.

DATA RECAP

  • Chinese Industrial Profits YTD YY (Jul) -1.1% (Prev. 1.0%)
  • Australian Retail Sales MM Final (Jul) 1.3% vs. Exp. 0.3% (Prev. 0.2%)

i)MONDAY MORNING// SUNDAY  NIGHT

SHANGHAI CLOSED UP 4.51 PTS OR 0.14%   //Hang Sang CLOSED DOWN 146.82 OR 0.73%    /The Nikkei closed DOWN 762.42 OR % 2.66.          //Australia’s all ordinaires CLOSED DOWN 2.07%   /Chinese yuan (ONSHORE) closed DOWN AT 6.9179//OFFSHORE CHINESE YUAN DOWN 6.9192//    /Oil DOWN TO 93.28  dollars per barrel for WTI and BRENT AT 101/15//    / Stocks in Europe OPENED  ALL RED.        ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER 

3 a./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA/

3B JAPAN

end

3c CHINA

CHINA/USA

China is weaponing Chinese worldwide to support the CPP

(Gordon Chang/Gatestone)

Chang: China Is Weaponizing Chinese Worldwide To Support The CCP

SATURDAY, AUG 27, 2022 – 11:30 PM

Authored by Gordon Chang via The Gatestone Institute,

  • To make matters worse, the Chinese state has been open about its hostility to the United States. Among other things, in May 2019 People’s Daily, the Party’s self-described “mouthpiece” and therefore most authoritative publication in China, declared a “people’s war” on America.
  • Many of those “different social systems”—especially the United States—are squeamish when it comes to singling people out because of their race. Yet American policymakers cannot ignore the fact that the Communist Party’s appeal to overseas Chinese is overtly race-based.
  • In February… the Justice Department ended its Trump-era “China Initiative,” which concentrated law enforcement efforts on Chinese espionage. Yet given Xi Jinping’s call on overseas Chinese to work for the Chinese Communist Party, it is time to reinstitute that program and devote more resources to it.
  • Can Americans of Chinese descent be loyal to both America and China?
  • No. China’s Communist Party has made itself an existential threat to America and every other society…. The promotion of tianxia [ruling “All under Heaven”] means, among other things, that the Party views the U.S. government as illegitimate and America as nothing more a tributary society or colony.
  • Although we [“Chinese-Americans”] technically do not have an obligation to prove our loyalty to America, we must, as a group, understand that a hostile power is trying to weaponize us. Xi Jinping has openly called on us to become a subversive force, to help him destroy the country we now call home.
  • It is time, therefore, for us to begin cleaning our own ranks…. Moreover, it means not shouting “racism” every time law enforcement arrests someone of Chinese descent.
  • We may think it unfair, but we now have to make a choice.
  • After all, our country—the United States of America—is in peril because a foreign state—the People’s Republic of China—is attacking it and hoping to use us to take it down.
  • The Communist Party of China refers to us as “overseas patriotic forces.” People in our communities will want to know to which country we feel patriotic.

“Promoting the great unity of the Chinese people is the historic responsibility of China’s patriotic united front work in the new era,” said Chinese ruler Xi Jinping at the end of last month to Communist Party cadres in Beijing. “To do the job well, we must… truly unite all Chinese people in different parties, nationalities, classes, groups, and with different beliefs, and those who are living under different social systems.”

“Different social systems” is Party lingo for “other countries.”

Xi’s words sound benign, but the intent is not. In short, Xi, at the Party’s United Front Work Conference, said he hoped to unite—in other words, mobilize—ethnic Chinese everywhere to support the CCP, to effectively make every Chinese individual a CCP agent.

“The Chinese Communist Party just doesn’t accept that people who adopt foreign citizenship are no longer beholden to the motherland as represented by the Chinese Communist Party,” said Charles Burton of the Ottawa-based Macdonald-Laurier Institute to “CBS Eye on the World” on August 17. “There is no escape from this ethnic identification based on being descendants of the Yellow Emperor.”

Xi’s predecessors also appealed to overseas Chinese, so in one sense there was nothing new in his words last month. Yet there is nonetheless cause for great concern. Mao Zedong in fact tried to use ethnic Chinese populations outside China to overthrow their governments. Xi reveres Mao, has adopted many of Mao’s tactics, and is surely as determined as Mao in using Chinese people to do his bidding. Xi is serious in seeing all the world’s Chinese as a single unified force.

Many of those “different social systems”—especially the United States—are squeamish when it comes to singling people out because of their race. Yet American policymakers cannot ignore the fact that the Communist Party’s appeal to overseas Chinese is overtly race-based.

“We all share the same ancestors, history, and culture, we all are sons and daughters of the Chinese nation and descendants of the dragon,” said Yang Jiechi, now China’s top diplomat, in 2013 to a group of overseas ethnic Chinese children attending a government-sponsored “roots-tracing” tour event.

The regime sponsors these tours to indoctrinate. Foreign children, in Taishan in Guangdong province during a tour late last decade, were asked to sing the 1980s-era “Descendants of the Dragon.” The appeal to race is unmistakable, as this portion of the lyrics makes clear: “With brown eyes, black hair, and yellow skin, we are forever descendants of the dragon.”

In fact, China’s regime asks, cajoles, threatens, and intimidates dragon descendants to commit crimes for “the Motherland.” As successful American prosecutions indicate, some ethnic Chinese are especially susceptible to those appeals.

In February, however, the Justice Department ended its Trump-era “China Initiative,” which concentrated law enforcement efforts on Chinese espionage. Yet given Xi Jinping’s call on overseas Chinese to work for China, it is time to reinstitute that program and devote more resources to it.

Many have called the initiative “racist,” but any new program would be merely responding to the Communist Party’s race-based appeals.

The overwhelming majority of Americans of Chinese descent—especially those who have fled China recently— are loyal to America, but some Chinese in America flaunt their support for Chinese communism. The flying of flags of the People’s Republic of China in Chinatowns across the U.S.—especially San Francisco’s before the pandemic—was particularly disturbing and suggestive of disloyalty to the American republic.

Can Americans of Chinese descent be loyal to both America and China?

No. China’s Communist Party has made itself an existential threat to America and every other society. The Chinese regime, especially in recent years under General Secretary Xi, has been pushing the notion that it holds the Mandate of Heaven to rule tianxia, “All Under Heaven.” The promotion of tianxia means, among other things, that the Party views the U.S. government as illegitimate and America as nothing more than a tributary society or colony.

To make matters worse, the Chinese state has been open about its hostility to the United States. Among other things, in May 2019 People’s Daily, the Party’s self-described “mouthpiece” and therefore most authoritative publication in China, declared a “people’s war” on America.

Let me end on a personal note, as dragon blood proudly flows in my veins. My dad, who arrived in this country in early 1945, came from a small farming village in Jiangsu province, across the mighty Yangtze River from Shanghai. My mother’s family traces its roots to Dundee, in Scotland, but I have not identified with that half of my heritage. I grew up in New Jersey, steeped in Dad’s stories of the Yellow Emperor and of course tales of dragons.

Nonetheless, my story-telling dad never missed an opportunity to vote or tell his four children how wonderful his adopted country was. He always said “China is my birthplace but America is my home.”

We “Chinese-Americans”—I abhor the term—need to remember where we now live. We cannot remain oblivious, as we so far have had the luxury of doing.

Although we technically do not have an obligation to prove our loyalty to America, we must, as a group, understand that a hostile power is trying to weaponize us. Xi Jinping has openly called on us to become a subversive force, to help him destroy the country we now call home.

It is time, therefore, for us to begin cleaning our own ranks. This means, among other things, not tolerating displays promoting Chinese communism in our country. Moreover, it means not shouting “racism” every time law enforcement arrests someone of Chinese descent. If we do not take the lead in these tasks, others will naturally do that for us.

We may think it unfair, but we now have to make a choice.

After all, our country—the United States of America—is in peril because a foreign state—the People’s Republic of China—is attacking it and hoping to use us to take it down.

The Communist Party of China refers to us as “overseas patriotic forces.” People in our communities will want to know to which country we feel patriotic.

end

China could weaponize rare earths which are essential to the uSA defense industry

( Thornbrooke/EpochTimes)

US ‘Heavily Dependent’ On China For Rare Earth Elements: Experts

SATURDAY, AUG 27, 2022 – 08:10 AM

Authored by Andrew Thornebrooke via The Epoch Times (emphasis ours),

The United States’ dependency on China for rare earth elements is a security risk, according to lawmakers and experts, and is being exacerbated by the Biden administration’s forced transition to so-called “green” technologies.A loader shifts soil containing rare earth minerals to be loaded at a port in Lianyungang, in China’s Jiangsu Province, for export to Japan. China controls the world’s supply of rare earth minerals and the United States is seeking partnerships with allies to reduce its dependence on China. (STR/AFP via Getty Images)

The Biden administration’s top-down push toward renewables requires an enormous growth in the mining of rare earth elements. Currently, the United States relies on the mining and processing powers of China, which has far worse environmental regulations, to achieve many of its needs.

We’re heavily dependent on foreign adversarial nations,” said Rep. Pete Stauber (R-Minn.) during an Aug. 22 interview with NTD, an affiliate media outlet of The Epoch Times.

“If today, the communist country of China stopped selling us their critical and rare earth minerals, we would be in deep trouble from our national defense to our manufacturing across the globe.”

Rare earth elements are a number of elements with unique characteristics, which have made them vital to new technologies. Critical minerals are those rare earth elements that have no substitute, are limited in supply, or are economically vital.

Stauber’s comments came just weeks after U.S. Treasury Secretary Janet Yellen said that the United States would try to end its “undue dependence” on rare earths, which it requires to manufacture various technologies from solar panels to electric vehicle batteries to smartphones.

“It’s unfortunate that this administration has put their dependency for both critical minerals and rare earth minerals in the hands of the communist country of China,” Stauber said.

“It’s simply unacceptable when we are we have the critical minerals and a few of the rare earths right here in the United States. This administration just won’t let us mine.”Wheel loaders fill trucks with ore at the MP Materials rare earth mine in Mountain Pass, Calif., on Jan. 30, 2020. (Steve Marcus/Reuters)

According to Stauber, the Biden administration lacks the political will to simply mine the needed elements domestically. For example, nickel, copper, and cobalt are all present at extant mining operations in Minnesota. Instead of allowing American companies to mine these, however, the administration is pursuing a policy of “friendshoring,” wherein it merely transfers supply chains for offshored goods from China to more friendly nations such as South Korea.

We have the best environmental standards, best labor standards, and the opportunity to secure our supply chain dependency and put the destiny of our great nation in the palm of our own hands,” Stauber said.

“It doesn’t have to be this way. We must have an administration that understands the importance of securing our critical minerals and our rare earth minerals. We have to return this country, the United States of America, to mining and mineral dominance. And we can do that, if we have the political will.”

China Weaponizing Rare Earths

Ann Bridges, a Silicon Valley author and policy adviser at the Heartland Institute, said that the fear of China weaponizing its growing power of rare and critical elements was not without precedent.

“In 2010, Japan and China actually had a conflict over rare earths,” Bridges told NTD. “China responded by cutting off Japan’s access to the rare earths which really had an impact on Japan’s manufacturing capabilities.”

end

The China drought will be wide reaching in impact

Inbox

Robert HryniakSun, Aug 28, 7:01 PM (12 hours ago)
to

4/EUROPEAN AFFAIRS//UK AFFAIRS

UK/

This is deadly to the uK

(zerohedge)

UK “Passed Debt And Death Sentence On Millions” By Increasing Energy Price Cap By 80%

SATURDAY, AUG 27, 2022 – 07:35 AM

The 80% rise in the U.K.’s cap for consumer electricity and natural gas bills this fall will drive millions of households into energy poverty this winter as the worsening cost-of-living crisis stokes fears of recession.  

All the chatter today among British people is energy regulator Ofgem’s rise in the cap on power bills to a record £3,549 ($4,189) beginning Oct. 1 from £1,971 ($2,330) at present. That cap is expected to rise to £5,439 ($6,427) by January and £7,272 ($8,594) by spring — all due to skyrocketing wholesale NatGas and electricity prices caused by declining Russian energy supplies to Europe, made worse by Western sanctions that have backfired. Source: Bloomberg 

“An increase of this much cannot be budgeted for by households with no wiggle room,” said Peter Smith, director of policy and advocacy for the National Energy Action charity. “Come October, low-income households will simply not turn on their heating.”

Reuters spoke to one Brit, Philip Keetley, who said: 

“The cost of living has increased and yet you’re still expected to live on the money provided for when there wasn’t a crisis … I either can have my heating on or eat.” 

Another Brit, Dawn White, who has kidney failure, fears the cost of soaring energy costs means she won’t be able to afford life-saving medical treatment:

“Without my (dialysis) machine five times a week, 20 hours, I will die,” the 59-year-old woman said. 

Soaring energy inflation has crushed real earnings for Brits, forcing many to pull back on spending. Source: Bloomberg 

The higher cap rate could push inflation to even more elevated levels as U.K. economists at Citi warned CPI inflation could reach a mindboggling 18.6% print in January due to soaring energy prices. 

The last time CPI printed above 18% was during the stagflationary years of the mid-1970s (more precisely, 1976) after an oil supply shock led to soaring energy prices worldwide. 

Currently, the CPI stands at 10.1% in July for the first time in four decades, primarily driven by skyrocketing food and fuel prices as households crumble under the weight of the cost of living crisis. 

Inflation at decades highs has pushed U.K. Misery Index, an economic indicator to gauge how the average person is doing, to three-decade highs, a sign discontent is emerging.

“It’s going to be horrendous,” said Bill Bullen, chief executive officer of Utilita Energy Ltd., which supplies 810,000 homes in the U.K. “We are going to see a big increase in people struggling to pay for their energy bills.”

Last winter’s cap was £1,277, but that was before European leaders sanctioned the hell out of Moscow for the invasion of Ukraine. With the cold season just a few short months away, power prices are already at record highs as Russia’s Nord Stream 1 NatGas pipeline to the bloc experiences supply disruptions. 

UK NatGas prices are also hyperinflating. 

This winter could be one of the darkest in decades for U.K. households. The government has provided billions of pounds to support families, but that may not reduce the growing discontent. 

The resistance is growing as more than 116,000 irritated people have pledged not to pay their electricity bill this fall when the new price cap begins, in a movement called “Don’t Pay U.K.” 

“Ofgem just passed a debt and death sentence on millions – we’ve been left with no options but to refuse to pay,” the anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1. 

Soaring power bills will have a devastating impact on society, far greater than the GFC over a decade ago, warned James Cooper, a partner at Baringa. He warned:

“We’re now moving into territory where a majority of households are placed into debt or a very fragile financial position.”

A financial implosion of the households will spur discontent in what could be winter from hell across the U.K.

end

EUROPE/

High costs have shut down ammonia production and that will exacerbate food production

(zerohedge)

Wave Of European Ammonia Plant Closures To Exacerbate Food Crisis

SUNDAY, AUG 28, 2022 – 08:45 AM

A wave of European ammonia-plant shutdowns due to soaring natural gas prices has resulted in a devastating fertilizer crunch, worsening by the week, with as much as 70% of production offline.  

“Ammonia prices, though volatile, rose 15% in 3Q and could climb higher as Europe’s record gas prices curtail output and send ammonia producers to the global market in search of replacement supplies to run upgrade facilities — with winter still around the corner,” Bloomberg Intelligence’s Alexis Maxwell wrote in a note. 

As of Friday, 70% of capacity is offline across the continent, according to Fertilizers Europe, representing top regional producers. 

“The current crisis begs for a swift and decisive action from EU and national policymakers for both energy and fertilizer market,” Jacob Hansen, director general of Fertilizers Europe, said in a statement.

Producers from Norway’s Yara International ASA to CF Industries to Borealis AG recently reduced or halted production because European NatGas prices hit a record high of 343 euros per megawatt hour, making it uneconomical to operate. 

“We confirm we are reducing and stopping production of some fertilizer plants in the different EU sites and this for economic reasons,” a spokesperson for Borealis AG said. 

Europe’s benchmark NatGas price soared nearly a third this week as Russian supplies to Europe via Nord Stream 1 pipeline have been reduced to 20% over the summer and face a temporary halt on Aug. 31 for three days. 

The region’s fertilizer industry association warned the energy crisis is rippling across many industries and could heavily impact the food industry. 

“We are extremely concerned that as prices of natural gas keep increasing, more plants in Europe will be forced to close.

“This will switch the EU from being a key exporter to an importer, putting more pressure on fertilizer prices and consequently affecting the next planting season,” said Maximo Torero, chief economist at the United Nations Food and Agriculture Organization.

The closure of fertilizer producers across Europe lifted Mosaic and CF Industries as some of the top advancers in the S&P 500 Index on Friday, rising 16% and 15%, respectively, on the week. 

Bloomberg Intelligence’s Maxwell said “cascading supply-side shocks” could keep fertilizer prices elevated well into 1H23 and may pressure farmers in the upcoming growing season, adding to even more food inflation as less fertilizer equals smaller harvests. 

Remember, the world’s largest fertilizer company warned supply disruptions could extend into 2023. 

The picture is becoming more apparent that Europe’s energy crisis and much of its fertilizer capacity offline will have severe consequences for the food industry in the growing season ahead — leaving some to believe a global food crisis is only just materializing. 

END

EUROPE

Europe hopelessly plans on an “emergency intervention” in the power market.

All hell breaks loose in Europe

(zerohedge)

Europe Plans “Emergency Intervention” In Power Market As All Hell Breaks Loose

MONDAY, AUG 29, 2022 – 09:13 AM

With even Zoltan Pozsar warning that Europe faces an apocalypse of sorts now that the Eurussia divorce is complete and energy prices in Europe are hitting fresh daily record highs every single day – just today, German 1Year  forward baseload electricity rose above €1000, or 10x where they were a year ago, before easing after European nat gas prices plunged the most since March after Germany said its gas stores are filling up faster than planned ahead of winter…

… moments ago the European Union appears to have finally realized that it faces an armed revolt this winter, or worse, when millions face freezing cold without power and heat (see “This Is Beyond Imagination”: Polish Homeowners Line Up For Days To Buy Coal Ahead Of Winter“), and announced that it was planning “urgent steps” to push down soaring power prices, Commission President Ursula von der Leyen said on Monday.

“The skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” von der Leyen said in a speech at the Bled Strategic Summit in Slovenia, pointing out what has been obvious for years to those who warned repeatedly that Europe should probably not take make its energy policy based on the idiotic ravings of a self-absorbed, petulant, Scandinavian teenager. “It was developed under completely different circumstances and completely different purposes.”

Ah yes, it’s the “circumstances and purposes” that are at fault, not Europe’s catastrophic “green” push over the past decade that left the continent at the mercy of Putin, very much as one Donald J Trump warned would happen… and speaking of Putin, maybe Europe can impose a few more self-destructive sanctions on Russian energy exports. But we digress…

Ursula then added “that’s why we are now working on an emergency intervention and a structural reform of the electricity market”, one which would look roughly like this.

The unprecedented spike in power prices, which have soared almost 10-fold in the past year, has fueled inflation, increased the economic burden on businesses and households recovering from the pandemic, and forced the ECB to aggressively hike rate in hopes of crushing demand into what is now a definite recession if not a depression. One could say that Putin couldn’t have planned his revenge on Europe better.

According to Bloomberg, more and more member states are calling for a price cap and the Czech Republic, which holds the rotating presidency of the EU, plans to convene an extraordinary meeting of energy ministers on Sept. 9.

In other words, while the ECB plans to crush demand with tighter monetary conditions, European governments will ease demand and inject fiscal stimulus to avoid an angry mob descending on various local parliaments.

Of course, being a harebrained European “plan” which doesn’t make any sense – just like anything else out of Europe  – the exact details of an EU intervention plan are still being developed, and EU diplomats said the EU’s executive arm could offer a detailed plan as soon as this week. Don’t hold your breath: after all, absent a massive ECB-funded stimulus – the proceeds of which will immediately go to Putin – unless Europe has somehow found brand new deposits of nat gas which are immediately accessible and don’t require tens of billions and years of development to be extracted, what Europe is doing is just the latest jawboning.

With Russia squeezing gas deliveries, power-plant outages further sapping supply, while droughts and lack of wind make a mockery of “green” energy sources, the pressure is growing on EU leaders to act quickly or risk social unrest and political upheaval. Czech Prime Minister Petr Fiala is seeking backing for his price-cap plan and plans to discuss possible limits with German Chancellor Olaf Scholz.

“High energy prices are a Europe-wide problem that we need to tackle at European level,” Fiala said on his Twitter account. “Ahead of the EU Energy Council we want to find a way to help people and businesses that we can agree on with other European leaders.”

Czech officials are proposing to cap prices of natural gas used for power generation, Industry and Trade Minister Jozef Sikela said on Monday.

“We may open the question of emission allowances, as some other member states have done in past, that also present a major part of the total price,” Sikela said. “We may open the question of the overall market regulation, total decoupling of the prices,” adding that the bloc cannot meddle too much with the market or fuel speculation.

Amusingly, EU member states have already earmarked about 280 billion euros (or roughly the same in USD now that we are at parity) in measures such as tax cuts and subsidies to ease the pain of surging energy prices for businesses and consumers, but the aid risks being dwarfed by the scale of the crisis. In other words, the ECB will be hiking rates even as it has to inject even more liquidity into the market to enable the latest helicopter money stimulus. Governments have also started to limit energy use, banning outside lighting for buildings in Germany and lowering indoor heating temperatures, to meet the EU voluntary target of cutting gas demand by 15%.

On Saturday, Belgian Prime Minister Alexander De Croo warned that the EU can’t continue resolving the problem of sky-rocketing energy costs by cutting taxes and called for a price cap instead. Should the bloc fail to reach an agreement, Belgium will consider national measures, he told VTM television.

France last week reacted skeptically to the idea of setting limits on power prices, saying its situation is different from other European countries thanks to government measures offering protection against inflation.

In kneejerk response, some European commodity prices dipped from all time highs, while US nat gas dipped to session lows amid expectations Europe’s “energy emergency” could mean fewer Us LNG exports. We doubt that, and in fact expect that Europe will double down begging for every last drop of US, Canadian, Qatari LNG it can find.

end

POLAND

Polish homeowners line up for days buying coal ahead of the winter

(zerohedge)

“This Is Beyond Imagination”: Polish Homeowners Line Up For Days To Buy Coal Ahead Of Winter

MONDAY, AUG 29, 2022 – 04:22 AM

Several weeks ago we reported that amid Europe’s mindblowing gas and electricity prices, Deutsche Bank predicted that a growing number of German households will be using firewood for heating, a forecast which appears to have become self-fulfilling as German google searches for firewood (“brennholz”) had since exploded off the charts:

But while Germans are still “searching” merely in the virtual realm, for countless Poles the search is all too real.

According to Reuters, with Poland still basking in the late summer heat, hundreds of cars and trucks have already lined up at the Lubelski Wegiel Bogdanka coal mine, as householders fearful of winter shortages wait for days and nights to stock up on heating fuel ahead of the coming cold winter in queues reminiscent of communist times.

Artur, 57, a pensioner, drove up from Swidnik, some 30 km (18 miles) from the mine in eastern Poland on Tuesday, hoping to buy several tonnes of coal for himself and his family.

“Toilets were put up today, but there’s no running water,” he said, after three nights of sleeping in his small red hatchback in a crawling queue of trucks, tractors towing trailers and private cars. “This is beyond imagination, people are sleeping in their cars. I remember the communist times but it didn’t cross my mind that we could return to something even worse.”

Artur’s household is one of the nearly 4 million in Poland that rely on coal for heating (granted, these households are probably in better shape than the ones relying on nat gas whose price is rising by 10-20% every day and is now almost literally in the stratosphere) and now face shortages and price hikes, after Poland and the European Union imposed an embargo on Russian coal following Moscow’s invasion of Ukraine in February. Poland banned purchases with an immediate effect in April, while the bloc mandated fading them out by August.

While Poland produces over 50 million tonnes from its own mines every year, imported coal, much of it from Russia, is a household staple because of competitive prices and the fact that Russian coal is sold in lumps more suitable for home use.

Soaring demand has forced Bogdanka and other state-controlled mines to ration sales or offer the fuel to individual buyers via online platforms, in limited amounts. Artur, who did not want to give his full name, said he had collected paperwork from his extended family in the hope of picking up all their fuel allocations at once.

The mine planned to sell fuel for some 250 households on Friday and would continue sales over the weekend to cut waiting times, Dorota Choma, a spokeswoman for the Bogdanka mine told Reuters.  The limits are in place to prevent hoarding and profiteering on the black market, or even selling spots in the queue, Choma said.

Like all Polish coal mines, Bogdanka typically sells most of the coal it produces to power plants. Last year, it sold less than 1% of its output to individual clients so lacks the logistics to sell fuel directly to retail buyers.

Lukasz Horbacz, head of the Polish Coal Merchant Chamber of Commerce, said the decline in Russian imports began in January when Moscow started using rail tracks for military transport.

“But the main reason for the shortages is the embargo that went into immediate effect. It turned the market upside down,” he told Reuters. A spokesman for the Weglokoks, a state-owned coal trader tasked by the government to boost imports from other countries declined to comment, while the climate ministry was not available for comment. Government officials have repeatedly said Poland would have enough fuel to meet demand.

In recent years, Poland has been the most vocal critic of EU climate policy set by a petulant Scandinavian teenager, and a staunch defender of coal that generates as much as 80% of its electricity. But coal output has steadily declined as the cost of mining at deeper levels increases. Coal consumption has held mostly steady, prompting a gradual rise in imports. In 2021, Poland imported 12 million tonnes of coal, of which 8 million tonnes came from Russia and used by households and small heating plants.

In July, Poland ordered two state-controlled companies to import several million tons of the fuel from other sources including Indonesia, Colombia and Africa, and introduced subsidies for homeowners facing a doubling or tripling of coal prices from last winter.

“As much as 60% of those that use coal for heating may be affected by energy poverty,” Horbacz said.

Back at Bogdanka, Piotr Maciejewski, 61, a local farmer who joined the queue on Tuesday, said he was prepared for a long wait. “My tractor stays in line, I’m going home to get some sleep,” he said.

SWEDEN

Worst breakout of violent crimes in Sweden

Jensen/Gatestone

Violent Crime Rocks Sweden Ahead Of Elections

MONDAY, AUG 29, 2022 – 02:00 AM

Authored by Peder Jensen via The Gatestone Institute,

  • For the first time, crime tops the list of voters’ most important concerns in the run-up to the elections.
  • Of the more than 8,200 people the Swedish police counted as being members of criminal gangs by late 2021, almost 15% were under the age of 18.
  • Sweden has in just two generations gone from being one of the safest countries in the world to being one of the most dangerous countries in Europe. During the same time, mass immigration has dramatically altered Sweden’s population. 1.2 million of those eligible to vote in the elections in September 2022 were born outside Sweden…
  • Basem Mahmoud is an imam operating in the heavily Muslim-dominated area of Rosengård in Malmö. He has called Jews “the offspring of pigs and apes,” said he was “only quoting the Koran,” and is looking forward to “the great battle” when all non-Muslims will be forced to submit themselves to Muslims.
  • In a sermon in February 2022, Mahmoud went on the attack against Swedish schools and social services and stated that Muslims are taking over the country. “Sweden is ours,” he said. ” It is ours, whether they [Swedes] like it or not. In ten to fifteen years, it is ours.”
  • Sweden has one of the world’s worst recorded rape rates. In 2018, the state broadcaster SVT revealed that 58% of men convicted in Sweden of rape and attempted rape over the previous five years were born abroad. Some of the most brutal rape cases have involved Muslim or African immigrants.
  • Unfortunately, such problems are no longer confined only to major cities. They are spreading to smaller towns and even rural areas across Sweden. Kalmar, a relatively small medieval town of historical importance, has experienced multiple deadly gang shootings.
  • Swedes who want their families to be safe from violent crime are running out of places to move to — unless they decide to leave their homeland behind entirely, as some are doing already.

Sweden will hold general elections on September 11, 2022. At the same time, the country is rocked by a wave of violent crime that is unprecedented in modern Scandinavian history.

For the first time, crime tops the list of voters’ most important concerns in the run-up to the elections. “It’s going to be a very unique type of Swedish election with a very unusual issue at the top of the agenda,” Henrik Ekengren Oscarsson, professor of political science at Gothenburg University, told newspaper Dagens Nyheter. Forty-one percent of those surveyed said that law and order are the most important issues in society, as well as the most important political issues.

Patrik Öhberg, political scientist at the SOM Institute, states that “This is the first election campaign in modern times where it’s so high up on the agenda that all parties, whether they want to or not, have to discuss the issue.” This could benefit the Moderate Party, the Christian Democrats, or the Sweden Democrats. On the other side of the political spectrum, it could be detrimental to the Left Party, the Greens, and the ruling Social Democrats.

The Social Democratic Party has headed the Swedish government since 2014. During these eight years, crime has continued growing to intolerable levels nationwide. Sweden has in recent years suffered attacks involving bombs, hand grenades or other explosive devices on a weekly basis, sometimes several times a week.

In November 2021, Prime Minister Stefan Löfven stepped down as party leader and PM, and Magdalena Andersson became Sweden’s first female prime minister. In April 2022, several Swedish cities experienced violent riots and attacks against the police by Muslims when anti-Islamic activist Rasmus Paludan tried to burn copies of the Koran. Andersson then admitted that a lack of integration had contributed to gang violence, saying that there are “strong forces that are ready to go to great lengths to harm our society.”

“Segregation has been allowed to go so far that Sweden now has parallel societies,” Andersson said according to Aftonbladet. “We live in the same country but in completely different realities… Integration has been too poor while we have had large-scale migration. Society has also been too weak.”

Others, after having allowed these problems to grow largely unchecked for decades, have belatedly come to the same conclusion. Ulf Kristersson, leader of the liberal-conservative Moderate Party, in August 2022 co-authored a column which admitted that “Sweden has lost control over crime. While the violence is getting worse, the perpetrators are getting younger.”

Unfortunately, every single party represented in the Swedish Parliament (Riksdag) has contributed to the current problems, with the right-wing Sweden Democrats being a partial exception.

Even mainstream media outlets such as the BBC admit that Sweden has one of the highest rates of gun killings in Europe. An official Swedish government report published in 2021 stated that each year, four in every million inhabitants in Sweden die in shootings. The European average is 1.6 people per million inhabitants. Statistics reveal that 85% of suspects involved in fatal shootings in Sweden are either born abroad or come from an immigrant background. Recently, bombings and shootings have spread outside the main cities. After a spate of shootings in the smaller city of Örebro, the local police chief said that they now not only had more gangs, but that they had also become more violent. “Where maybe 10 years ago they gave someone a beating, they then switched to shooting each other in the legs,” Mattias Forssten told Reuters. “Now they shoot each other in the head.”

On August 19, a man was killed and a woman was sent to the hospital with serious wounds after a shooting incident in Malmö, Sweden’s third-largest city. The attack took place inside Emporia, a major shopping mall. According to the police, the murdered man had known ties to a criminal gang. The wounded woman, however, appears to have been an innocent bystander. The perpetrator fired many shots on a busy afternoon inside one of the country’s largest shopping malls. He could easily have wounded or killed many other people, even unintentionally.

A 15-year-old boy was arrested and admitted to the murder in Malmö. Unfortunately, he is far from unique. Of the more than 8,200 people the Swedish police counted as being members of criminal gangs by late 2021, almost 15% were under the age of 18. Some gangs recruit teenagers specifically. Under the Swedish legal system, they can expect more lenient sentences due to their young age and may even be able to avoid spending any time in jail. Prisons in Sweden are already overcrowded.

While confronted by a massive crime wave, the Swedish police force is overwhelmed and understaffed. A disturbing number of murders are never solved, while many lesser crimes go nearly unpunished.

Sweden has in just two generations gone from being one of the safest countries in the world to being one of the most dangerous countries in Europe. During the same time, mass immigration has dramatically altered Sweden’s population. 1.2 million of those eligible to vote in the elections in September 2022 were born outside Sweden — about 200,000 more foreigners than in the previous election, in 2018. Nearly one in four first-time voters aged 18-21 was either born abroad or has two parents born abroad. In central Malmö, almost every second person eligible to vote for the first time has a foreign background.

Muslim immigrants in Sweden, as in other European countries, tend overwhelmingly to vote for the Social Democrats or other socialist or left-wing parties. However, they have now become so numerous and self-confident that they also create their own political parties. Mikail Yüksel, a Turkish-born Muslim, heads Partiet Nyans, which has a following in cities such as Malmö. Yüksel has argued that an artwork by the late Swedish artist Lars Vilks should be burned because it allegedly represents Islamophobia.

Basem Mahmoud is an imam operating in the heavily Muslim-dominated area of Rosengård in Malmö. He has called Jews “the offspring of pigs and apes,” said he was “only quoting the Koran,” and is looking forward to “the great battle” when all non-Muslims will be forced to submit themselves to Muslims. He has also defended the brutal murder of the French teacher Samuel Paty in 2020, who was beheaded by a Chechen Muslim after teaching students a class on freedom of expression.

In a sermon in February 2022, Mahmoud went on the attack against Swedish schools and social services and stated that Muslims are taking over the country. “Sweden is ours,” he said. ” It is ours, whether they [Swedes] like it or not. In ten to fifteen years, it is ours.”

Sweden has both imported and exported Jihadists for years. Some Muslims after 2014 traveled from Europe to the Middle East to support the self-proclaimed Islamic State, arguably the world’s most brutal terrorist organization. While many of them died there, some of the survivors in recent years returned to Europe. They have directly or indirectly supported brutal terrorist attacks, massacres, beheadings, and slave auctions. Nevertheless, many of them have not faced any real punishment after returning to Sweden. Some local municipalities even offered them free driving licenses and housing grants in an attempt to reintegrate these hardened Jihadists into Swedish society.

In early 2022, a man was charged with threatening the police after he hung what looked like an Islamic State flag from his balcony in the Broby, a town of about 3,000 people in southern Sweden. He told the police that he would behead them, but later claimed that they had a personal vendetta against him.

Norberg, an old mining community in central Sweden, has roughly 4,500 inhabitants. In April 2022, a man in his 40s who is believed to be from Afghanistan was arrested there for raping and attempting to murder a woman by pushing her down an old mine shaft. The man had come to Sweden with the migrant wave in 2015 and been denied a residence permit, but had nevertheless remained in the country. He had apparently asked a Swedish woman to marry him. When she refused, he raped her and then pushed her about 20 meters down a mine shaft. When he returned later and discovered that the woman was still alive, he started throwing rocks at her to kill her. By some miracle, the woman survived and, after lying in the abandoned mine for two days, was rescued. The assailant may also have killed his former wife.

In July 2022, a 9-year-old Swedish girl was the victim of a brutal attempted murder at a playground in the town of Skellefteå, in northern Sweden. She was raped and then beaten into a coma. The suspect was an immigrant from Ethiopia. He initially claimed to be 13 years old, but he is probably several years older. He had been granted permanent residency in Sweden merely a week before this attempted murder, despite being described in the local community as a “walking hand grenade.”

Sweden has one of the world’s worst recorded rape rates. In 2018, the state broadcaster SVT revealed that 58% of men convicted in Sweden of rape and attempted rape over the previous five years were born abroad. Some of the most brutal rape cases have involved Muslim or African immigrants.

Black Axe is an international and extremely violent criminal organization with roots in Nigeria. They are one of the many rival criminal gangs in the process of establishing themselves in Sweden. An official police report from 2019 indicated that Stockholm alone has at least 50 different criminal gangs currently operating in the city. They are also getting more aggressive and violent. Scandinavian countries traditionally did not have strong organized crime groups comparable to the mafia found in southern Italy. Now Sweden has dozens of different groups or clans competing against one another for control over the local market of narcotics, protection money or other illegal activities. Some of them have even managed to create a criminal infrastructure, with ties to lawyers or bureaucrats. Nearly all of them have been imported to the country since the 1970s. Many of these criminals have an ethnic background from far more brutal and cynical societies in the Islamic world or Africa. Soft Scandinavian prisons do not deter them.

Unfortunately, such problems are no longer confined only to major cities. They are spreading to smaller towns and even rural areas across Sweden. Kalmar, a relatively small medieval town of historical importance, has experienced multiple deadly gang shootings.

In December 2019, when three masked men robbed a local restaurant in the town of Gislaved, a 60-year old Swedish family man was murdered with a machete .

Swedes who want their families to be safe from violent crime are running out of places to move to — unless they decide to leave their homeland behind entirely, as some are doing already.

END

5.RUSSIAN AND MIDDLE EASTERN AFFAIRS//

IRAQ/USA

Reports Of US Embassy Being Evacuated As Baghdad’s Green Zone Breached

Several Killed As Baghdad’s Green Zone Unravels, White House Denies Embassy Evacuation Reports

MONDAY, AUG 29, 2022 – 01:37 PM

Update(1337ET): The White House is addressing viral video which purported to show a military helicopter on top of the US Embassy in Baghdad following Iraqi protesters breaching the high-secure Green Zone.

“Reports of an Embassy evacuation are false. Ensuring the safety of US government personnel, US citizens, and the security of our facilities remains our highest priority,” a White House official said in the hours after the security situation unraveled. The official called reports of violent confrontation with police “disturbing” after a curfew for the Iraqi capital went into effect.

“Now is the time for dialogue, not escalated confrontation,” the official said. “We join the call by parties across the Iraqi political spectrum to remain calm, abstain from violence, and resolve their political differences through a peaceful process guided by the Iraqi constitution.”

Though little is confirmed, there are reports of several killed as videos of gun fights continue to emerge. Currently there are reports that pro-Sadr militants are roaming around Tahrir Square and near the Green Zone at the moment, with key government buildings also having been breached.

MONDAY, AUG 29, 2022 – 10:44 AM

Days of pro-Muqtada Sadr protests and unrest have reportedly resulted in Baghdad’s high secure Green Zone being breached Monday, placing international diplomatic missions and foreign embassies under threat.

AFP is reporting that an exchange of gunfire has been observed as dozens or possibly hundreds of supporters riot, with police using riot control measures like water cannons to repel an attack on the Green Zone. There are unconfirmed reports that the sprawling and iconic Iraqi Republican Palace has been forcibly breached with protesters inside.

The fresh unrest appears to be in response to Sadr being pressured to exit politics, with the influential Shia cleric tweeting earlier in the day, “Earlier I decided that I would not interfere in political affairs. And now I announce my final retirement (from politics) and the closure of all institutions (belonging to the Sadr movement).”

The past months have witness periodic unrest as Shia factions struggle to form a government, which has also resulted in sporadic violence amid gridlock in parliament. Against this backdrop, for the last two years pro-Iran militia groups have launched occasional rocket attacks on US bases and even at times the heavily fortified American embassy. Sadr’s supporters believe there’s a conspiracy against him.

Though as yet unconfirmed from the US side, there are widespread reports that the United States Embassy which is located inside the Green Zone is currently being evacuated.

Convoys of international vehicles have also been seen speeding from the areas of unrest, exiting the confines of the Green Zone.

Below are some developments according to Iraqi war correspondent Ali Almikdam:

  • closure of the shrine of Imam Al Kadhim
  • Intense security deployment near Baghdad International Airport.
  • Sadr’s supporters storm the government palace & the Republican Palace.
  • Curfew in Baghdad.
  • US embassy is evacuating

Purported footage of protesters breaching the symbolic seat of government for the Iraqi state, which is at the heart of the walled Green Zone:

developing

end

A VERY IMPORTANT READ:;

Re: Escobar: All The Way To Odessa | ZeroHedge
Inbox
Robert Hryniak9:52 AM (5 minutes ago)
toThanks … i saw this several days ago and i wrote last week of a 3 pronged attack forth coming … in mid September … there is a 60,000 man Army now poised to strike and soon moving with forces being assembled to the north and middle … stupidity runs deep … the Brits saw their payment for weapons and artillery ammo bought from Kazakhstan .. silly these supplies were by truck and water .. all destroyed over the weekend with air strikes from Belarus … makes all such covered rucks moving in the Ukraine legit drone targets….  You will see a fall campaign and then a cooling off period for winter, unless a winter campaign is required … https://www.zerohedge.com/geopolitical/escobar-all-way-odessaEscobar: All The Way To OdessaAuthored by Pepe Escobar,Dmitry Medvedev, relishing his unplugged self, has laid down the law on the Special Military Operation (SMO). Bluntly, he affirmed there is a “one and a half” scenario: either to go all the way, or a military coup d’Etat in Ukraine followed by admitting the inevitable. No tertium applies.That’s as stark as it gets: the leadership in Moscow is making it very clear, to internal and international audiences, the new deal consists in slow cooking the Kiev racket inside a massive cauldron while polishing its status of financial black hole for the collective West. Until we reach boiling point – which will be a revolution or a putsch.In parallel, The Lords of (Proxy) War will continue with their own strategy, which is to pillage an enfeebled, fearful, Europe, then dressing it up as a perfumed colony to be ruthlessly exploited ad nauseam by the imperial oligarchy.Europe is now a runaway TGV – minus the requisite Hollywood production values. Assuming it does not veer off track – a dicey proposition – it may eventually arrive at a railway station called Agenda 2030, The Great Narrative, or some other NATO/Davos denomination du jour.As it stands, what’s remarkable is how the “marginal” Russian economy hardly broke a sweat to “end the abundance” of the wealthiest region on the planet.Moscow does not even entertain the notion of negotiating with Brussels because there’s nothing to negotiate – considering puny Eurocrats will only be hurled away from their zombified state when the dire socio-economic consequences of “the end of abundance” will finally translate into peasants with pitchforks roaming the continent.It may be eons away, but inevitably the average Italian, German or Frenchman will connect the dots and realize it is their own “leaders” – national nullities and mostly unelected Eurocrats – who are paving their road to poverty.You will be poor. And you will like it. Because we are all supporting freedom for Ukrainian neo-nazis. That brings the concept of “multicultural Europe” to a whole new level.The runaway train, of course, may veer off track and plunge into an Alpine abyss. In this case something might be saved from the wreckage – and “reconstruction” might be on the cards. But reconstruct what?Europe could always reconstruct a new Reich (collapsed with a bang in 1945); a soft Reich (erected at the end of WWII); or break with its past failures, sing “I’m Free” – and connect with Eurasia. Don’t bet on it.Get back those Taurian landsThe SMO may be about to radically change – something that will drive the already clueless denizens of US Think Tankland and their Euro vassals even more berserk.President Putin and Defense Minister Shoigu have been giving serious hints the only way for the pain dial is up – considering the mounting evidence of terrorism inside Russian territory; the vile assassination of Darya Dugina; non-stop shelling of civilians in border regions; attacks on Crimea; the use of chemical weapons; and the shelling of Zaporizhzhya power plant raising the risk of a nuclear catastrophe.This past Tuesday, one day before the SMO completing six months, Crimea’s permanent representative to the Kremlin, Georgy Muradov, all but spelled it out.He stressed the necessity to “reintegrate all the Taurian lands” – Crimea, the Northern Black Sea and the Azov Sea – into a single entity as soon as “in the next few months”. He defined this process as “objective and demanded by the population of these regions.”Muradov added, “given not only the strikes on Crimea, but also the continuous shelling of the Zaporizhzhya nuclear power plant, the dam of the Kakhovka reservoir, peaceful facilities on the territory of Russia, the DNR and LNR, there are all preconditions to qualify the actions of the Banderite regime as terrorist.”The conclusion is inevitable: “the political issue of changing the format of the special military operation” enters the agenda. After all, Washington and Brussels “have already prepared new anti-Crimean provocations of the NATO-Bandera alliance”.So when we examine what the “restoration of the Taurian lands” implies, we see not only the contours of Novorossiya but most of all that there won’t be any security for Crimea – and thus Russia – in the Black Sea without Odessa becoming Russian again. And that, on top of it, will solve the Transnistria dilemma.Add to it Kharkov – the capital and top industrial center of Greater Donbass. And of course Dnipropetrovsk. They are all SMO objectives, the whole combo to be later protected by buffer zones in Chernihiv and Sumy oblasts.Only then the “tasks” – as Shoigu calls them – of the SMO would be declared fulfilled. The timeline could be eight to ten months – after a lull under General Winter.As the turbo-charged SMO rolls on, it’s a given the Empire of Chaos, Lies and Plunder will continue to prop up and weaponize the Kiev racket till Kingdom Come – and that will apply especially after the Return of Odessa. What’s unclear is who and what gang will be left in Kiev posing as the ruling party and doing specials for Vogue while duly fulfilling the mass of imperial diktats.It’s also a given the CIA/MI6 combo will be refining non-stop the contours of a massive guerrilla war against Russia in multiple fronts – crammed with terror attacks and all sorts of provocations.Yet in the Bigger Picture it’s the inevitable Russian military victory in Donbass and then “all the Taurian lands” that will hit the collective West like a lethal asteroid. The geopolitical humiliation will be unbearable; not to mention the geoeconomic humiliation for vassalized Europe.As Eurasian integration will become an even stronger vector, Russian diplomacy will be solidifying the new normal. Never forget that Moscow had no trouble normalizing relations, for instance, with China, Iran, Qatar, Saudi Arabia, Pakistan and Israel. All these actors, in different ways, directly contributed to the fall of the USSR. Now – with one exception – they are all focused on The Dawn of the Eurasian Century
.

Russia/Ukraine/UK

Is Britain preparing for unneeded conflict ???

Inbox

Robert Hryniak4:49 PM (5 minutes ago)
to

>
> Rumor is the UK is preparing to station combat aircraft at civilian airports. This will be the first time that they’ve done that since World War II. Supposedly, this is a response to the Ukrainian conflict. The whole concept of dispersing aircraft across the country is designed to help an Air Force to have rapid response units to survive attacks on their military bases. This is really what happened during the second world war when Britain fought off the Germans, during the blitz. One ponders why Russia would bother to attack British planes in the UK when they can be easily be downed over Europe in the event of a direct conflict which no one will win. And where many millions will die. You only practice this because escalation is coming.
>
> This trial will start next month with the euro fighter Typhoons and  F35 jet fighters being scattered discreetly in small squadrons in regional airports with suitable runways. While larger jets will be scattered in different bases. One can only ponder why? Russia has no reason to invade Europe or Britain. And it is not a practical event as there is no gain to Russia to invade or occupy Britain. Nor do they have the population mass to do this even if it were desired. And it is well known that Britain has been funding various arms shipments via countries like Jordan to attempt to mask such involvement. So they clearly have joined the Americans in making the Ukrainians their proxy to fight Russia. Are they thinking escalation to escape their social and economic problems which will put many Brits in energy poverty? War is always a deflection of responsibility, on the part of inept politicians. Only statesmen understand that wars destroy much more than they can ever build. And set back society for decades.

> There is no legitimate reason to fight Russia directly or is there? It seems war is always a political solution of escalation of politics gone wrong. And no politician will ever admit they were wrong. While one cannot know all the ins and outs of tomorrow’s conflict; one can only assume Europeans will be asked to suffer more for a worthless cause when economic realities should be a priority over political ones. As events spiral largely behind the curtain only the anger of awakened public who demands common sense to prevail over mindless slaughter of innocence will stop this. All we can do is pray that common sense prevails. It seems that on the continent only Austria and Hungary have understood the futility of a escalation and have put the safety of their people first.

> And as i have repeatedly said the US military that counts will not confront Russia directly leaving Britain and Europe to dangle on their own, at their open peril.  No matter what the political administrative side says or does by supplying arms or even troops behind the scenes. The same applies to China and Taiwan. NATO can tackle that one but it doubtful the Americans will risk losing their fleets. China has sunk the carrier groups so far in every war game simulation. So if this continues to be the case, American hegemony will end in the Pacific with a bang. And the same applies for a direct confrontation with Russia. It is simply unreal that matters could be spirally like they are, to a conflict no one will win.

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6. GLOBAL ISSUES AND COVID COMMENTARIES/

Fauci’s COVID Disaster: A Summary

SUNDAY, AUG 28, 2022 – 05:30 PM

Authored by Ian Miller via Brownstone Institute,

News that Dr. Anthony Fauci is finally leaving his post after what seemed like an endless reign at the helm of the National Institute of Allergy and Infectious Diseases should be a time for celebration.

But it’s not.

Fauci has caused such tremendous damage throughout the past few years that it’s almost impossible to comprehend.

In nearly every area of life in the United States, as well as in many other parts of the world, Fauci’s influence has been a key contributor to massive amounts of human suffering.

Fauci inexplicably had particular ire for children.

Long after it was abundantly clear that closing schools had no significant health benefit, Fauci continued to support shutdowns and restrictions on normal life for millions of children at little to no risk from the virus.

His capacity for outright political advocacy and activism has been breathtaking to behold and contributed to the extreme collapse of trust in public health “experts” and authorities.

So it seems worth revisiting some of the greatest hits of Fauci’s reign of incompetence. 

Unmasked is entirely reader supported. Paid subscriptions allow the work to continue in this format, and any readership is greatly appreciated.

Masks

Perhaps one of Fauci’s biggest and most dramatic failings has been on masks.

Early on, he famously opined on 60 Minutes that he was confident that masks didn’t work, that they might only block “a droplet or two,” but didn’t provide the protection people thought they did.

He then confirmed the same information to people privately asking for advice on whether they should wear masks when traveling.

He later absurdly claimed that his initial comments were made out of a desire to protect supply for healthcare workers. Except, of course, healthcare workers would never wear the types of cloth masking that Fauci and his allies at the CDC were recommending.

Not to mention that his claim is made even more ridiculous by the fact that he told people privately not to wear masks.

Had he believed they worked but wanted to protect limited availabilities, he could have easily told those who asked to wear a mask without jeopardizing any large scale supply for hospital workers.

Of course, that’s not what he did.

His claim that masking would lower transmission and would demonstrate clearly beneficial results compared to areas that didn’t mask has been proven false repeatedly:

Well after it had been confirmed, by copious amounts of data, that masks don’t work, Fauci continued to advocate for universal masking. 

Even today, he’s remained completely steadfast that masks work, despite the conclusive evidence to the contrary.

Recently, after his incessant mask-wearing was completely ineffective at preventing him from being infected with the virus, Fauci continued to recommend people wear masks while lying about their effectiveness, saying they were “recommending people when they are in indoor congregate settings to wear a mask.”

“Those are simple, doable things that can help prevent us from having even more of a problem than we’re having right now.”

Just like the mask mandates during winter 2021-2022 were able to prevent the spread of the virus, right?

Lockdowns

The incomprehensible amount of lying that Fauci has done over the past few years extends past masks to lockdowns and business closures and capacity restrictions.

Fauci now claims that he never said to lock down the country. 

Except, of course, that’s exactly what he said on the record in 2020:

In September of 2020, Fauci claimed that states like Florida that reopened were “asking for trouble,” while praising New York for having one of the “best” responses.

Almost immediately afterwards, hospitalizations in California and New York shot past Florida with businesses closed, capacity restricted, and universal masking.

His bewildering lack of awareness is bad enough, but even as late as 2021, long after lockdowns and business closures were disproven, he continued to suggest that areas that reopened were engaging in extremely risky behavior by going against his dictates.

The headline of a story out of Jacksonville in April 2021 read: “Fauci: Opening Florida for business as COVID-19 variants surge a ‘risky proposition.’”

Just a few months prior to this remark, he had pointedly criticized Florida for reopening, only to see other states that followed his advice have significantly worse results. 

You’d think that being proven wrong would create some humility, uncertainty, and willingness to admit mistakes.

But that’s not what Dr. Fauci does. 

Instead, he doubled down, and said that Florida reopening in April 2021, months after vaccines had been available, was “risky.”

Except that California reported significantly higher rates of age-adjusted COVID mortality than Florida for all of the first and second quarters of 2021, with mask mandates and capacity limits for part of that time frame:

He pulled the same thing nationally, claiming inaccurately that the country would risk a new surge due to “relaxed” restrictions and new variants:

Remember too that Fauci claims to be the singular representative of “science.” If this is what “science” is, it clearly doesn’t deserve the respect it’s been given.

Of course, even into this year, Fauci is defending his recommendations, all evidence to the contrary, while denying that lockdowns, which permanently harmed tens of millions of people, didn’t irreparably damage anyone:

Children

Perhaps Fauci’s most damaging recommendations were related to schools. 

Jordan Schachtel compiled perhaps the best timeline of his advocacy to keep schools closed or excuse those who wanted to keep them closed. 

In his capacity as a masking fanatic, Fauci’s also promoted school masking, saying children over 2 should be forced to mask in school if local officials decided it was necessary. 

No matter how many times masking in schools is disproven, he’ll never admit these statements were baseless nonsense.

Between school closures and forced masking, the damage he’s caused to children is quite literally incalculable.

Vaccinations

There’s also his incomparable track record of inaccuracies on what the vaccines would do.

Among many other issues, his prediction that reaching certain levels of vaccination would eliminate the potential for future surges was, like everything else he’s done, almost immediately proven wrong.

His failures in this area are endless.

Obviously this is nowhere close to a comprehensive list of the incomprehensible stupidity that Fauci’s demonstrated over the past few years. A full list would require a book, or several books to chronicle.

His incompetence, hubris, awe-inspiring ego and commitment to being wrong in every possible circumstance is quite literally incomparable.

The tremendous amount of flip-flopping and backtracking to defend his prior ineptitude is continuously defended by Fauci as “The Science™” changing.

Except the CDC guidelines he continuously defended and promoted were never based on changing science, as evidenced by the fact that they never ran high-quality randomized controlled trials to justify their decision-making.

“Science” can’t change when one of the key tenets of it, evidence-based recommendations, was never updated.

But that didn’t matter to Fauci. What mattered is endless media appearances, praise from the left, and maintaining a veneer of infallibility propped up by a fawning press.

While it might be tempting to think that this retirement will signal a dramatic shift in thinking about COVID at a federal level, that seems far too optimistic.

As with everything else COVID-related, the Biden Administration has committed to ensuring that whoever replaces outgoing officials will be even worse. Ashish Jha and Rochelle Walensky are shining examples.

At the very least, there’s a glimmer of hope that Fauci will still be called before Congress and be held accountable for the damage he’s caused and for his blatant, world-altering agenda.

*  *  *

Originally posted at Ian Miller’s ‘Unmasked’ Substack,

Ian Miller is the author of “Unmasked: The Global Failure of COVID Mask Mandates.” 

END

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Paul Alexander..

Ha ha ha, grab the popcorn folks, its getting nice, nice, as Moderna sues Pfizer and BioNTech over coronavirus vaccine; Moderna suing pharmaceutical rival & its German partner for patent infringement

One devil suing another devil, it’s like the CDC suing FDA or NIH for inaccurate fraud data released to the public, kind of like that!

Dr. Paul AlexanderAug 27

“Moderna is suing its US pharmaceutical rival Pfizer and its German partner BioNTech for patent infringement in the development of the first Covid-19 vaccine approved in the United States, alleging they copied technology that Moderna developed years before the pandemic.

The lawsuit, which seeks undetermined monetary damages, was being filed in US district court in Massachusetts and the regional court of Düsseldorf in Germany, Moderna said in a news release on Friday.

“We are filing these lawsuits to protect the innovative mRNA technology platform that we pioneered, invested billions of dollars in creating, and patented during the decade preceding the Covid-19 pandemic,” Moderna’s chief executive, Stéphane Bancel, said in the statement.”

SOURCE

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Are COVID gene injections (also known as COVID inoculations or vaccines) causing the excess mortality we are seeing? Are the excess deaths directly due to the COVID vaccines? The Daily Sceptic, YES!

Will Jones

Dr. Paul AlexanderAug 27

This remains the key question now for we are seeing excess deaths across the world and while some say it can be linked to the lockdowns and loss of treatment, some (we and I) argue that a large portion can be explained by the COVID injection directly. The Daily Sceptic’s Will Jones makes the case too.

SOURCE ‘The high number of U.K. excess deaths since April has finally made it into the mainstream media, courtesy of the Telegraph and Professor Carl Heneghan. According to the ONS, as of August 5th 2022 there have been 13,398 excess non-Covid deaths registered in England and Wales since April 23rd. The Telegraph reports that the Government is now looking into what is behind this alarming wave of unexplained deaths, which is about time, having previously said it would not. Does it only matter when the Telegraph says it?

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Open in browser

Of EUA’s, FDA, Pfizer, & COVID gene shots: there is NO emergency so why EUA for BA.4 & BA.5? Now Latest Covid Boosters Are Set to Roll Out Before Human Testing Is Completed; Original Antigenic Sin???

FDA & Pfizer say the booster will work on BA.5, yet these are the same idiots & corrupted people who have thus far caused massive death from the fraud vaccines! The boosters are NOT tested! MADNESS!

Dr. Paul AlexanderAug 28

SOURCE:

Latest Covid Boosters Are Set to Roll Out Before Human Testing Is Completed; The FDA and vaccine makers say they are confident that shots targeting Omicron subvariants will work safely

This is pure insanity and I raise several points for consideration:

1)Original Antigenic Sin (OAS) (antigen immune imprinting, fixation, prejudicing based on initial exposure, vaccine etc.); antibody-dependent enhancement of infection (ADEI) and antibody dependent enhancement of disease (ADED); viral immune escape; natural selection pressure; keep these concepts always in your mind as you assess these failed COVID gene shots. It remains the rate limiting step.

2) they have not done the proper testing especially as to safety

3)they have not conducted any of their studies including the legacy trials for the proper duration of follow-up; long-term harmful and death sequela remains a massive concern as it is happening in the short and medium term already

4)Tests as far as I have heard are only in mice thus far and results and decisions being based on 8 mice? Mice model is not the human experience and behavior and response and this is ludicrous

5)As far as I know they are also relying on data from the BA.1 human trials and BA.5 mice trials for their EUA authorization. This is ludicrous for the BA.1 is not a dominant variant

6) Having the initial Wuhan legacy strain as one of the contents of the booster vaccine (that spike) with BA.5 spike is a joke for the Wuhan strain is long gone, is not dominant. This will drive Original Antigenic Sin and viral immune escape. Again how inept can these people at CDC and Pfizer and FDA be?

7)An increase in antibodies is not representative of how the immune response will be and this is the garbage type science Pfizer and Moderna have subjected us to so as to get their fraud killer shots into us, and the corrupted inept FDA has accepted. It is the FDA that fails each time. Why? Corrupted bogus vaccine maker methods to show effectiveness such as ‘immuno-bridging’ (immunebridging) with antibody spikes in young kids used as a measure of immune response success if it matches increases in antibodies in prior adult or other older children trials. Such utter garbage. This is scientific malfeasance!

8)All of these EUAs are based on antibody titer surges. This is crap bogus research and tells us nothing for as we saw the antibody levels wane quickly (gets to negative efficacy in a week) and this is the continuation of these malfeasant vaccine makers driving profits by having you on the booster tread-mill and you cannot come off. This is fraud. This is criminal IMO. It does not work, will not work and will never work. We are being tricked again! A ‘shiny toy, shiny object’ again, a new booster and it is a fraud, will fail!

9)This is the ‘Future Framework’ bullshit we were telling you about that the FDA is operating under, has corruptibly devised, where future COVID etc. vaccines will not be tested, they will be carte blanched approved once shown to be ‘similar’. Similar how? Antibody surges? You sit back and think about it for a moment and tell me how much hair you pulled out of your head.

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Lin et al.: Coronavirus spike protein activated natural immune response, damaged heart muscle cells; spike protein from infection or vaccination persists in body for months & cause ongoing symptoms

‘The latest research indicates that spike protein may continue to attack the heart and may at least partly explain the high numbers of cardiovascular deaths in the last year.’

Dr. Paul AlexanderAug 28

SOURCE 1

SOURCE 2: Serious Adverse Events of Special Interest Following mRNA Vaccination in Randomized Trials

Substack Alexander COVID News evidence-based medicine is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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“Pfizer and Moderna mRNA COVID-19 vaccines were associated with an increased risk of serious adverse events of special interest, with an absolute risk increase of 10.1 and 15.1 per 10,000 vaccinated over placebo baselines of 17.6 and 42.2 (95% CI -0.4 to 20.6 and -3.6 to 33.8), respectively. Combined, the mRNA vaccines were associated with an absolute risk increase of serious adverse events of special interest of 12.5 per 10,000 (95% CI 2.1 to 22.9). The excess risk of serious adverse events of special interest surpassed the risk reduction for COVID-19 hospitalization relative to the placebo group in both Pfizer and Moderna trials (2.3 and 6.4 per 10,000 participants, respectively).”

“The spike protein from SARS-CoV-2 by itself can lead to heart muscle injury through the inflammatory process, according to preliminary research to be presented this week at the American Heart Association’s Basic Cardiovascular Sciences Scientific Sessions 2022. Medical Xpress has more.

The spike protein is found on the surface of SARS-CoV-2, the virus that causes COVID-19. Spike proteins latch onto receptors known as angiotensin-converting enzyme 2 (ACE2) on target cells. The spike protein facilitates virus entry into healthy cells, which is the first step in infection. In addition to infecting the lungs, the virus can also spread to other organs leading to more damage to the body, severe infection and, among some people, death.

“It’s already known from the clinical side that COVID-19 infection can induce heart injury, however, what we don’t know is the mechanistic details of how this occurs. What we suspect is that the spike protein has unknown pathological roles,” said Zhiqiang Lin, Ph.D., lead author of the study and an assistant professor at the Masonic Medical Research Institute in Utica, New York. “Our data show that the spike protein from SARS-CoV-2 causes heart muscle damage. That’s why it’s important to get vaccinated and prevent this disease.”

“Host natural immunity is the first line of defence against pathogen invasion, and heart muscle cells have their own natural immune machinery. Activation of the body’s immune response is essential for fighting against virus infection; however, this may also impair heart muscle cell function and even lead to cell death and heart failure,” Lin said.

The researchers studied whether the SARS-CoV-2 spike protein activates the natural immune response in heart muscle cells. HCoV-NL63 is a coronavirus that infects the respiratory system without causing cardiac injury, although its spike protein also uses ACE2 to mediate virus entry. They studied the potential ability to cause heart disease of both SARS-CoV-2 spike protein and the NL63 spike protein. Their results showed that the SARS-CoV-2 spike protein activated the natural immune response in heart muscle cells and damaged the heart, but the NL63 spike protein did not.

“The fact that the SARS-CoV-2 spike protein is activating the natural immune response may explain the high virulence compared to the other coronaviruses,” Lin said. “The TLR4 signalling is the major pathway that activates the body’s natural immune response, and the SARS-CoV-2 spike protein activates TLR4, not the regular flu spike protein.”

Open in browserLittle by little truth of lockdown is being admitted: YES, it was a lie, a disaster; ‘Public fear deliberately stoked to justify decisions made on the hoof & on questionable advice’; Jonathan SumptionI

wrote this first with Risch, Kulldorff, Bhattacharya, Gupta, Atlas, Tenenbaum etc. We were warning about the catastrophe yet we were mocked, slandered…now they are stumbling over each other; JAIL!
Dr. Paul Alexander
Aug 28

As I wrote near two years ago, lockdowns are and were a catastrophic failure! It was clear to me day one in the Trump administration that the response to the pandemic was not a scientific one but a political one and the political response is now on hyper-steroids under Biden. Biden et al. do nothing without a political calculation. The CDC and NIH and FDA and PHAC and SAGE and Health Canada never EVER followed the science. They have always been averse to the science. We gave them science and they rejected it for their corrupted inept illogical, irrational, specious, absurd, non-sensical response. None have been as non-sensical and inept and irrational and unsound as Trudeau and Ford of Canada. Absurd! painful for the people.Some now argue it will take the balance of the 21st century, 80 years, to reverse what the lockdowns has done, hollowing out societies. The emotional, social, physical, psychological, and economic tolls.Where were the cost-benefit analyses? Today, after 2.5 years, no one, not one government has yet to do a cost-benefit analysis on any of the lockdown lunatic policies as well as a COVID gene injection. Can you understand what I just wrote? Not one cost-benefit analysis whereby they assess the risks/costs and benefits of each action and assess alternative courses of action. The Trump, Biden, Trudeau, Johnson, all governments failed to conduct just ONE, one cost-benefit, risk-benefit analysis. I want that to sink in, and still to today.The present Covid-inspired forced lockdowns on business and school closures are and were counterproductive, were not sustainable and were, quite frankly, meritless and unscientific. They have been disastrous and just plain wrong! They killed people! There was no good reason for this. These unparalleled public health actions were enacted for a virus with an infection mortality rate (IFR) roughly similar (or likely lower once all infection data are collected) to seasonal influenza. Early on, Stanford’s John P.A. Ioannidis identified 36 studies (43 estimates) along with an additional 7 preliminary national estimates (50 pieces of data) and concluded that among people <70 years old across the world, infection fatality rates ranged from 0.00% to 0.57% with a median of 0.05% across the different global locations (with a corrected median of 0.04%). Let me write this again, 0.05%.Can one even imagine the implementation of such draconian regulations for the annual flu? Of course not! Not satisfied with the well-documented failures of lockdowns, our leaders inexplicably doubled and tripled down and introduced or even hardened punitive lockdowns and constraints. They were locking us down ‘harder.’ Indeed, an illustration of the spurious need for these ill-informed actions is that they were being done in the face of clear scientific evidence showing that during strict prior societal lockdowns, school lockdowns, mask mandates, and additional societal restrictions, the number of positive cases went up! No one can point to any instance where lockdowns have worked in this Covid pandemic. Not one piece of evidence and a recent lockdown, school closure, mask mandate op-ed in Brownstone I wrote is declarative on the pure failures and destruction of the lockdown lunacy.‘Lockdown was an extreme and unprecedented response to an ancient problem, the challenge of epidemic disease. It was also something else. It marked one of the gravest governmental failures of modern times. In a remarkably candid interview with The Spectator, Rishi Sunak has blown the gaff on the sheer superficiality of the decision-making process of which he was himself part. The fundamental rule of good government is not to make radical decisions without understanding the likely consequences. It seems obvious. Yet it is at that most basic level that the Johnson government failed. The tragedy is that this is only now being acknowledged.First, the scientific advice was more equivocal and inconsistent than the government let on. Some of it was based on questionable premises that were never properly scrutinized. Some of it fell apart as soon it was challenged from outside the groupthink of the Sage advisory body. Second, to build support, the government stoked fear, embarking on a manipulative advertising campaign and endorsing extravagant graphics pointing to an uncontrolled rise in mortality if we were not locked down. Third, the government not only ignored the catastrophic collateral damage done by the lockdown but actively discouraged discussion of it, both in government and in its public messaging.’I am saying that our governments killed us, killed people, our children, and I/we were telling them to stop the lockdown lunacy very early on. Yet these beasts were power drunk, these malfeasant technocrats, and could not stop. It was either ineptness or malfeasance. You decide.I know they stole PPE and PPP and COVID relief money, we investigate that too and jail them who stole. I know CEOs of hospitals, medical doctors, congress people, senators, MPs, MPPs stole money, guaranteed…we just need to show it…that 200 billion missing in US as fraud COVID relief, do you think no politicians benefitted? In Canada too? Come on man!so we take them into proper legal inquiries, proper public investigations, properly done, no kangaroo courts, no, everyone has a defense, and we let a jury and judges look at this and if it is shown they did wrong, that they were reckless and caused deaths, we take every cent they have and imprison them.I will start with Trudeau, Kieran, Williams of Ontario, Jason Kenny of Alberta, Bonnie Henry of British Columbia, Doug Ford, CDC officials, Health Canada officials, PHAC officials Njoo and Tam, Fauci, Walensky, Redfield, Hahn, Bourla of Pfizer, Bancel of Moderna, top dog malfeasant Dr. Francis Collins of NIH (rushing to retire), all involved in Trump and Biden administration who enacted policies that caused lockdown lunacy deaths…all of them…we investigate properly, all of them that caused the deaths of our police and military, that laid off people and caused suicides…we investigate them properly, no rush to judgement, proper for all and if shown by juries that they caused people’s deaths, we imprison them for life!SOURCESOURCE 2SOURCE 3SOURCE 4
Substack Alexander COVID News evidence-based medicine
Sweden’s Covid Expert (Anders Tegnell) Says ‘World Went Mad’ With Lockdowns’: HE WAS RIGHT, the world did go crazy; SWEDE kids wore no masks to schools, schools not locked down, & NO (0) kids died
Not one COVID lockdown, school closure, mask mandate, business closure policy, nowhere, anywhere in the world worked! Not one! That is the legacy of Fauci and Birx and Francis Collins and CDC and NIH, they all are corrupted and failed and we caught them, we woke up, I say late, but still we woke up, and we now move to get accountability. They said the S…
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Vaccine Impact

Attorney: Pfizer Vaccine Whistleblower False Claims Suit Payout could Reach $3.3 trillion “It would be enough to bankrupt Pfizer,”

August 28, 2022 11:04 am

Pfizer cannot use the government as a shield from liability for making false claims about its COVID-19 vaccine, lawyers for a whistleblower argued in response to Pfizer’s motion to dismiss a False Claims Act lawsuit. “Respondents claim fraudulent certifications, false statements, doctored data, contaminated clinical trials, and firing of whistleblowers can be ignored based on the theory that they contracted their way around the fraud,” lawyers for Brook Jackson, who worked as regional director at one of the clinical trials used to develop the Pfizer vaccine, wrote in their Aug. 22 response. “A drug company cannot induce the taxpayers to pay billions of dollars for a product,” they countered, “that honest data would show poses more risks than benefits, and that ignores the actual contract and the law itself.” Jackson’s lawsuit alleges that Pfizer and two of its subcontractors violated the False Claims Act by providing bogus clinical trial results to garner the FDA approval of its COVID-19 vaccine. Under federal law, individuals can sue on behalf of the government and win treble damages if they can prove an individual or company deliberately lied to the government. One of Jackson’s attorneys, Warner Mendenhall, told The Epoch Times that the payout could be as much as $3.3 trillion. “It would be enough to bankrupt Pfizer,” Mendenhall said.

Read More…



GLOBAL ISSUES// COMMENTARIES/SUPPLY ISSUES

Vaccine injury

‘Triple Threat’? Man Diagnosed With HIV, COVID, & Monkeypox At Same Time

SATURDAY, AUG 27, 2022 – 09:00 PM

An Italian man on a ‘condomless’ sex escapade with men in Spain tested positive for HIV, Covid-19, and monkeypox simultaneously – the first known case to have all three viral diseases, according to a case study in the Journal of Infection.

Researchers stated the 36-year-old male spent five days in Spain between June 16-20 and developed a fever (up to 39°C), accompanied by sore throat, fatigue, headache, and right inguinal lymphadenomegaly about nine days after his trip. He tested positive for Covid on July 2 — and his symptoms worsened that day. 

“On the afternoon of the same day, a rash started to develop on his left arm. The following day small, painful vesicles surrounded by an erythematous halo appeared on the torso, lower limbs, face, and glutes. On July 5, due to a progressive and uninterrupted spread of vesicles that began to evolve into umbilicated pustules, he went to the emergency room” in Catania, Italy, and then was immediately transferred to an Infectious Diseases Unit at the Policlinico G. Rodolico – San Marco University Hospital,” researchers said. 

By July 6, the man was diagnosed with monkeypox and human immunodeficiency virus (HIV) while still Covid positive. By this time, he had overlapping symptoms from all three viral diseases. Researchers noted he was double jabbed against Covid with Pfizer’s BNT162b2 mRNA vaccine (last December). 

Researchers said: 

“As this is the only reported case of monkeypox virus, SARS-CoV-2 and HIV co-infection, there is still not enough evidence supporting that this combination may aggravate patient’s condition.

“Given the current SARS-CoV-2 pandemic and the daily increase of monkeypox cases, healthcare systems must be aware of this eventuality, promoting appropriate diagnostic tests in high-risk subjects, which are essential to containment as there is no widely available treatment or prophylaxis.” 

The double jabbed man disclosed to researchers he had “condomless intercourse with men during his stay in Spain.” According to medical records, the man also had syphilis in 2019, though he tested negative last September. 

Images of the man who was not identified were taken and shared in the medical study. 

The fact that this man received two doses of Pfizer’s Covid vaccine and then tested positive for all three viral diseases at once is an eyecatcher. 

end

Europe officially records a shocking 691% increase in Excess Deaths among Children since EMA first approved COVID Vaccine for Children – The Expose

Inbox

Robert Hryniak12:51 PM (9 minutes ago)
to

This is truly shocking. What happens when there is cumulative adult die off? Is society ready for the upheaval ???

MICHAEL EVERY//RABOBANK

Michael Every on the major topics of the day

“The Only Way We Are Getting Big Rate Cuts Next Year Is Alongside An Economic Collapse The Pushes Us Off A Cliff”

MONDAY, AUG 29, 2022 – 10:15 AM

By Michael Every of Rabobank

‘Head like a Hole’ like J-Hole in the head

This Daily repeatedly warned inflation wasn’t ‘transitory’: it wasn’t. It warned lower rates would be higher: they are. It also warned ‘lower for longer’ would be ‘higher for longer’ as the markets implied ‘Fed pivot!’ Jackson Hole confirmed all three of our views. However, there was a hole in the Hole on why we are here and so what the implications are.

A day flight from Australia to Asia left me a ‘hole’ lot of time to muse ahead of Powell’s speech. On TV, I watched the billionaires in Billions ‘saving the world’…for profit. I couldn’t find the music I wanted, Pink Floyd – but read that Wall Street wants to buy their back catalogue: sing along, kids and Pigs: “Come in here, dear boy, have a cigar…. Everybody else is just green; Have you seen the chart? It’s a helluva start; It could be made into a monster; If we all pull together as a team. And did we tell you the name of the game, boy; We call it ‘riding the gravy train’” I read déjà-vu of “economic war = higher inflation and rates”; an anti-Semitic rant from Pepe Escobar cheering Western poverty and Russian riches; and The American Mind arguing ‘Finance Means Betting on People – Not Numbers’ using Marxist arguments –“Live vs. dead credit” is “productive vs. fictitious capital”– and savaging global markets for failing: “both to stimulate wealth creation and even to control risk when it becomes detached from the ultimate aim of allocating credit to people who will use it to create more wealth… Allocators look for “safe” investments insulated from the messy world of entrepreneurial risk-taking… Best of all… is anything with a government guarantee…even [in Silicon Valley] a large share of capital goes into copycat ideas, zero-sum battles, or financial businesses with a thin tech veneer.” How relevant to J-Hole!

Indeed, we have a hole where productive investment needed to be to prevent our crisis, as food prices soar, European energy hits mind-blowing highs, France’s Macron says it is “the end of abundance”, Germans stockpile toilet paper, and Belgium’s PM warns of the next TEN European winters being difficult. Clearly, we are close to banana republic stagflation – without the bananas. Do we get a Western energy price cap, as France is hinting? When you see the 10x energy price hikes SMEs are facing, it must surely be a death blow to neoliberalism’s “because markets”. Yet that would mean Western demand won’t fall, and out-bid emerging markets freeze and/or starve: and Pepe Escobars are elected all over. Such a move would ironically also make DM look like EM, as a sub-dollar parity EUR is already warning. Yet not capping energy prices would make DM look like EM in terms of crashing real incomes and social and political unrest.

Would J-Hole address the failures of ‘Billions’ as a political-economy model? After all, 90% of Australia’s fuel supplies will dry up if the South China Sea sees fighting, with only two weeks of inventory: neither the state nor the private sector built any oil refineries at normal or low rates because ‘dead credit’ goes into housing. Relatedly, the US Energy Secretary who laughed at the idea of increased fossil fuel production just sent a letter to oil refiners stating: “Given the historic level of US refined product exports, I again urge you to focus in the near term on building inventories in the US… It is our hope that companies will proactively address this need If that is not the case, the Administration will need to consider additional Federal requirements or other emergency measures. So, US export bans ahead? More of an energy crisis abroad, if so.

Would J-Hole note the crisis goes far beyond energy? After Covid PPP failures, we also see the RBA couldn’t retain a local auto sector to spill-over/convert to the military in a crisis, as it holds a hurried strategic defence review. The Fed couldn’t retain the US industrial base needed to carry the load of a major war: it won’t have the Navy it needs for many years. Europe has industry convertible to military needs – but not with these energy prices. What good is monetary policy when it leaves us behind this national-security curve? Central banks were created to fight wars, not inflation and “National security remains the irreducible function of the state.”

Would J-Hole note trends against their neoliberal worldview? An Aussie government minister declaring the ‘gig economy’ a “cancer” on the economy; my Aussie taxi-driver with a degree in engineering and thermal dynamics who can’t get a job due to off-shoring and HR departments run by young apparatchiks who value social media skills over being able to manage sulphuric acid pumps; the Aussie Greens calling for a two-year national rent cap and a 2% cap on rises after that; UK Tories imploding for NOT shaking the status quo up more, and just 6% of 18-24 year olds planning to vote blue; and MAGA now being “semi-fascism”, apparently.

So to J-Hole and its title of ‘Reassessing constraints on the economy and policy.’ How apt! What larger constraints on monetary policy are there than knowing that raising rates ruins the unproductive parts of the economy but doesn’t incentivise the productive parts we desperately need, and lowering rates only incentivises socio-economic necrosis? Not a word of this was mentioned by Powell in his keynote eight and half minute speech.

Powell said rates will go up and won’t come down in a hurry: “Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance… [it] will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy.” As Philip Marey covers herewe will likely see another 50bps in September, November, and December, taking Fed Funds to 4%.

However, he didn’t mention the crumbling global architecture driving inflation higher, or propose any solutions beyond driving demand down. Central bankers who love to talk outside their policy remit are quiet, as if the inflation and war they didn’t see coming, like the GFC, happened in a vacuum, and will decline in a vacuum.

To be fair, the IMF and World Bank heads both made clear that the supply-side backdrop was going to make monetary policy much harder for at least the next five years, as we face the most challenging backdrop in decades (read: the 70s). However, Singapore’s leaders are telling their public to “get real”; that the country must be able to stand on its own two feet; the atmosphere is like that before WW1; and the population needs to psychologically prepare itself for the risk of regional conflict. Watch this video and ask why we can’t all have this kind of brave leadership from central banks and the IMF and World Bank too.

Friday’s equity drop showed some were in denial: many still hope data will ‘save’ them. Yes, the latest PCE inflation was marginally weaker than expected, but CPI will not come down until geopolitical crises are resolved. Low demand growth does not mean low supply-side inflation. Epitomising this, Bloomberg just raised their terminal prices by 10% when many funds face terrible returns this year! As it stands, surely the only way we are getting big Fed rate cuts next year, at least without larger hikes to follow, is alongside an economic collapse that will push us not just into a hole, but off of a cliff.

[ZH: which, incidentally, is precisely what we have been saying all along is bound to happen]

If J-Hole produced brave and intellectually honest assessments it would have said rates are only part of the solution to this economic war, which the IMF and World Bank implied. Moreover, if we have a 2% CPI target, why can’t we have a median wage target; a productivity target; a target for the % of GDP accounted for by industry; for spare capacity in critical areas; share of imports in key sectors; and trade concentration? (Of course, you won’t hear any of that!)

Logically, we need sustained higher rates to: crush dead/fictitious credit/capital; push down the price of commodities paying for the other side’s war-machine and claiming to back new dollar rivals; and to suck Western capital out of rival economies to pump it into more geopolitically-friendly alternative destinations. This will blow up the dead/fictitious credit/capital without incentivising investment in what we most need: many important things *lose* money, but we all lose without them. ‘Billions’ won’t do that job, and if ESG could we wouldn’t be worrying about boiling, freezing, starving, or the inability to do any fighting.

Assuming nobody will pay higher taxes –because the rich won’t, and the poor can’t– then that logically leaves only two paths.

  • First is MMT, yet even that theory says don’t print when inflation is high. The American Mind article added, “we know what happens when we allow the boundless desires of politicians to become the basis of credit creation.” And President Biden just gave students debt relief of $10-$20,000 owed to rich, rentier private universities specialised in the dead/fictitious because of a “Midterm Covid emergency”: even the Washington Post calls it “a regressive, expensive mistake [which] will provide a windfall for the upper-middle class and wealthy – with American taxpayers footing the bill.” Yet MMT **only** into live/productive credit/capital areas such as agriculture, energy, industry, infrastructure, and defence , and into local/bloc supply chains not imports, might work, even if it means more inflation now. That is de facto industrial policy and Bretton Woods-era credit rationing to reallocate scarce resources and maintain social stability, if central banks read their own history. (And isn’t the ECB starting down this path with its anti-fragmentation policy? All it needs it state supply-side spending now.)
  • Second is to force private capital to do the things society desperately needs by narrowing its horizons. That means: telling banks what to do; high tariffs; capital controls; credit rationing; and moral suasion like under China’s “Common Prosperity”. Any Western takers?

Both paths lead to a bloc/values-based neo-mercantilism: thus the IMF and World Bank silence. Both are inflationary short-term and mean higher base inflation long-term. Today the Financial Times says “A post-dollar world is coming”. I will take the other side of that bet, while agreeing the can-still-soar-higher-than-this US dollar won’t be used in certain balkanized parts of the world ahead – and good luck to them with their choice of replacement.

On this note, the US Justice Department has blocked Maersk selling its box manufacturing unit to the Chinese because it would have combined two of the world’s four suppliers of refrigerated shipping containers, further concentrated the global cold supply chain, and consolidated control of over 90% of insulated container box and refrigerated shipping container production in Chinese SOEs or state-controlled entities. Somebody sees we are ‘in deep ship’ on the supply side. (Then again, the SEC signed a deal over audits of China’s US-listed firms: now to make them comply.)

J-Hole showed little intellectual honesty because it has a hole where an ideological “-ism” to frame what we are ‘allowed’ to do in this economic war should be. As Solzhenitsyn said: “Ideology – that is what gives evildoing its long-sought justification and gives the evildoer the necessary steadfastness and determination.” The Pepe Escobars clearly have theirs nailed down.

While we try to agree on one, it is clear that what the West needs like J-Hole in the head is Nine Inch Nails’ ‘Head Like a Hole“God money, I’ll do anything for you; God money, just tell me what you want me to; God money, nail me up against the wall; God money, don’t want everything he wants it all; No you can’t take it; No you can’t take it; No you can’t take that away from me; Head like a hole; Black as your soul; I’d rather die; Than give you control; Bow down before the one you serve; You’re going to get what you deserve.”

END

7. OIL//OIL ISSUES//NATURAL GAS//ELECTRICITY ISSUES/USA//GLOBE

https://www.zerohedge.com/energy/oil-surges-supply-takes-center-stage#:~:text=Oil%20Surges%20As,taking%20it%20negative%3F

Oil Surges As Supply Takes Center Stage

MONDAY, AUG 29, 2022 – 10:39 AM

Oil’s recent rebound has the potential to run further as traders will turn their focus to the upcoming OPEC+ meeting now Jackson Hole is out of the way, Bloomberg’s Sungwoo Park writes.

Crude is sharply extending gains on Monday, suggesting oil is now focused more on supply dynamics following the recent Saudi pivot than on a hawkish Powell. Indeed, the medium-term outlook for crude has improved since the Saudi energy minister’s comments on potential supply curbs last week, with more OPEC+ members aligning themselves with the kingpin.

These add key support to the positive backdrop on the supply side amid a prolonged energy crisis in Europe, along with the prospect of renewed exports from Iran getting undermined lately (just as we have been warning all along for the past year).

That should help overshadow bearish factors, especially fears about demand destruction amid recession risks. Oil’s timespreads remain in backwardation (which is of coursebullish).

With OPEC+ taking the driver’s seat again, crude can get a fresh impetus if the alliance delivers what the oil bulls want to hear – or a surprise beyond expectations – at the Sept. 5 meeting.

Finally, a reminder that perhaps the main reason why oil prices haven’t exploded even higher is the weekly drain of ~5 million in oil from the SPR. However, all that is ending in two months at which point the SPR will shift from a tailwind to a headwind for lower energy prices. It’s also why, in what appears a sheer act of desperation, the IEA’s head Fatih Birol just blurted out confirmation to what Zoltan Pozsar said, namely that a commodity supply panic is imminent, saying that a further SPR releases is “not off the table.”

Not off the table? Does he plan on taking it negative?

END

8 EMERGING MARKET& AUSTRALIA ISSUES & OTHER EMERGING NATIONS

end

Your early  currency/gold and silver pricing/Asian and European bourse movements/ and interest rate settings MONDAY morning 7:30 AM

Euro/USA 0.9985 UP  0.0025 /EUROPE BOURSES // ALL RED 

USA/ YEN 138.60   UP  1.088 /NOW TARGETS INTEREST RATE AT .11% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…

GBP/USA 1.1696 DOWN   0.0030

 Last night Shanghai COMPOSITE CLOSED UP 4.51 POINTS OR 0.14%

 Hang Sang CLOSED DOWN 146.82 PTS OR 0.73% 

AUSTRALIA CLOSED DOWN  2.07%    // EUROPEAN BOURSE: ALL RED 

Trading from Europe and ASIA

I) EUROPEAN BOURSES  ALL RED 

2/ CHINESE BOURSES / :Hang SANG CLOSED DOWN 201.66 PTS OR  1.01% 

/SHANGHAI CLOSED UP 4.51 PTS  OR 0.14% 

Australia BOURSE CLOSED DOWN 2.07% 

(Nikkei (Japan) CLOSED DOWN 762.42 OR 2.66%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 1727.00

silver:$18.66

USA dollar index early MONDAY morning: 108.73 DOWN 1  CENT(S) from FRIDAY’s close.

 MONDAY  MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 2.59% UP 22  in basis point(s) yield

JAPANESE BOND YIELD: +0.239% UP 2    AND 5/10   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.69%// UP 11  in basis points yield 

ITALIAN 10 YR BOND YIELD 3.79  UP 11   points in basis points yield ./ THE ECB IS QE ITALIAN BONDS

GERMAN 10 YR BOND YIELD: RISES TO +1.5005% 

END

IMPORTANT CURRENCY CLOSES FOR MONDAY  

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

Euro/USA0.9992 UP  .0033   or 33 basis points

USA/Japan: 138.62 UP 1.124 OR YEN DOWN 112 basis points/

Great Britain/USA 1.1706 DOWN.0020 OR 20 BASIS POINTS

Canadian dollar DOWN .0004 OR 4 BASIS pts  to 1.3011

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The USA/Yuan,  CNY: closed    ON SHORE  (CLOSED ..DOWN 6.9088 

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. 6.9172

TURKISH LIRA:  18.18  EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.

the 10 yr Japanese bond yield  at +0.214

Your closing 10 yr US bond yield UP 8  IN basis points from FRIDAY at  3.112% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield   3.256 UP 5  in basis points 

Your closing USA dollar index, 108.74 DOWN 1 PTS   ON THE DAY/1.00 PM/

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

London: CLOSED DOWN 53.43 PTS OR  0.70%

German Dax :  CLOSED DOWN 83.23 POINTS OR 0.66%

Paris CAC CLOSED  DOWN 51.05 PTS OR 0.81% 

Spain IBEX CLOSED DOWN 76.30 OR  0.95%

Italian MIB: CLOSED DOWN 65.99 PTS OR  0.28%

WTI Oil price 95.94  12: EST

Brent Oil:  103.94 12:00 EST

USA /RUSSIAN ///   RUBLE FALLS TO:  60.28  DOWN 0  AND 22/100       RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +1.5005

CLOSING NUMBERS: 4 PM

Euro vs USA: 0.9995 UP .0035     OR  35 BASIS POINTS

British Pound: 1.1704 DOWN  .0022 or  22 basis pts

USA dollar vs Japanese Yen: 138.77 UP 1.285//YEN DOWN 129 BASIS PTS

USA dollar vs Canadian dollar: 1.3005 DOWN 0.0010  (CDN dollar, UP 10 basis pts)

West Texas intermediate oil: 96.91

Brent OIL:  104.91

USA 10 yr bond yield: 3.114 UP 8 points

USA 30 yr bond yield: 3.253  UP 5  pts

USA DOLLAR VS TURKISH LIRA: 18.18

USA DOLLAR VS RUSSIA//// ROUBLE:  60.39  UP 0 AND    11 ROUBLES 

DOW JONES INDUSTRIAL AVERAGE: DOWN 184.41 PTS OR 0.57 % 

NASDAQ 100 DOWN 120.84 PTS OR 0.96%

VOLATILITY INDEX: 25.91 UP 0.35 PTS (1.37)%

GLD: $161.86 up $0.08 OR 0.05%

SLV/ $17.63 DOWN 7 CENTS OR 0.40%

end)

USA trading day in Graph Form

Stocks & Bonds Sink As Post-Powell “Pain” Continues

BY TYLER DURDEN

MONDAY, AUG 29, 2022 – 04:00 PM

Despite a smorgasbord of opinion on just what Jay Powell said on Friday – as “Powell Pivot” bulls desperately enter the various Kubler-Ross-ian stages of grief over their dead narrative – The Fed president’s words were unequivocally hawkish and that was reflected in more positioning adjustments today.

Financial Conditions have begun to tighten from their ridiculous easing shift… as per Powell’s plan (but there’s a lot more “pain” to come)…

Source: Bloomberg

The odds of a 75bps hike in September have risen to 75%…

Source: Bloomberg

As bond rate-hikes and rate-cuts shifted more hawkishly today…

Source: Bloomberg

Futures opened down hard extending Friday’s weakness, staged a slow recovery, dumped lower after the cash open, staged another comeback to get the S&P green (after Europe closed) briefly before sliding back…

The Nasdaq is down around 5% post-Powell.

The Dow found support today at its 50DMA and the S&P and Nasdaq traded between the 50- and 100-DMA…

Treasury yields were higher across the curve today with the mid- to long-end underperforming (2Y +3bps, 10Y +7bps). Post-Powell, the long-end is flat while the belly is notably higher in yield

Source: Bloomberg

The dollar gave back most of its overnight gains but managed to hold Friday’s hawkish spike returns…

Source: Bloomberg

Bitcoin tumbled back below $20,000 overnight but buyers stepped in…

Source: Bloomberg

Dr.Copper continued its slide lower…

NatGas was noisy amid idiotic comments on emergency plans from EU leaders…

Crude prices pushed higher amid Iraq headlines

Uranium extended its gains today as the Swiss join the Japanese and Germans in possibly maybe admitting the nuclear power is the solution…

Gold bounced back from overnight ugliness to close unchanged…

Finally, for a sense of just how far this de-risking could go, we note that STIRs never drank the ‘Pivot’ Kool-Aid and – just as we saw in the March equity squeeze- are likely to be the anchor of reality that stocks have to fall to for pain to slow…

Source: Bloomberg

Bear in mind that this drop in risk assets is what Powell needs – an actual tightening of financial conditions – and should dip-buyer step back in again on hopes that Powell’s “pain” will only last a brief moment, he will re-appear in his most hawkish suit and unleash reality once again until inflation (and speculative longs bank-rolls) are good and dead.

I) / LATE MORNING//  TRADING

Dow Dumps Below Critical Technical Support As The “Enter The Stupid” Equity-Rebound Ends

MONDAY, AUG 29, 2022 – 10:58 AM

Update (1100ET): US equity markets have taken another leg lower this morning after a brief attempt at a bounce. The Nasdaq is now down over 5% from the start of Powell’s speech…

And The Dow has broken back below its key 50DMA…

The rest of the majors are all edging back down towards that key support level…

*  *  *

As we detailed earlier, there’s a lot lower to go as rates reality hits stocks.

As stocks soared for the last few weeks – supposedly on semantic and self-reinforcing dovish sentiment heard in Powell’s post-FOMC presser – a funny thing happened in the actual market that trades rate-trajectory expectations… NOTHING!

That’s right, as we warned multiple times, as talking heads proudly proclaimed the bottom was in for stocks and Powell would pivot, the short-term interest-rate (STIRs) market was decidedly un-dovish and even ahead of Powell’s definitive dove-destroying (brief) message last Friday, Nomura’s Charlie McElligott notes that:

STIRs actually never wavered last week in their consistent “hawkishness,” as opposed the the “Enter the Stupid” of the insane Equities rally overshoot Thursday: in fact, most of those profile ED$ curves we have been monitoring show Fed path expectations have barely moved since Powell spoke Friday…

This is because STIRs had already accurately reflected Fed “tightening” prior to the Powell speech Friday (priced-in ahead of the actual remaining hikes—no changes from Powell with regard to NEW hikes—just iteration of “restrictive for longer”), and also too then accurately removed any prior Fed “easing” in that 1H23 period over the past month + (the “de-inversions” in EDZ2-H3, Z2-M3), after the mid-Summer “recession scare 1.0” priced in premature Fed cuts.

That said, McElligott notes that 33bps of implied Fed CUTS do still remain in 2H23, because the view is that “restrictive for longer” in the medium-term then means much higher probability of “hard-landing” recession longer-term (Note: Powell made ZERO references to “soft landing” in his speech), which will then necessitate a commensurate large “easing” to start the next Fed policy cycle, which is helping to keep the long-end moves relatively more contained.

So what does all this mean for Equities now, as the narrative flips from BTFD to the reality of Earnings, Multiples and Valuations.

The Nomura strategist points out that as the entirety of the Equities down-trade in ’22 has been on tighter FCI and Fed hiking impact on the MULTIPLE, it seems the market is again turning its gaze towards Q3 negative EARNINGS revisions as the driver of the “next leg down” on risk of lower profit margins and lower earnings growth as the slowdown “bites”

Although with front-end Yields impulsively higher here, a snapshot PE multiple is now generously closer to 17.5x’s versus the current recently used est PE of 18x’s

So with that prior “Valuation range” mentioned last week, let’s make it 17.5 x’s $230 = 4025, which just happens to be current “Spot”…although in-light of the belief that earnings are soon to begin moving lower on the “variable and lagged” impact of FCI tightening, 17.5 x’s $225 goes to 3937…with the local low-end being 3850 (17.5 x’s $220)

After the shock-down in US Equities Spot index Friday, Options Dealer positioning is again a big part of the story moving-forward, trading in “Short Gamma vs Spot” location for all major indices / ETFs…

…with big downside levels nearing with SPX @ 4000 and QQQ @ 300 in the crosshairs, as potentially “acceleration points” lower.

ii) USA DATA//

DALLAS FED REPORT

A Benefit Of Soaring Inflation: Americans Are Starting To Eat Less

MONDAY, AUG 29, 2022 – 02:05 PM

While the Dallas Fed is traditionally a C, or at best a B-grade economic indicator, it is best known for having some of the most entertaining and insightful critiques of the Biden regime, such as the following:

  • “We’ll all be lucky to have a job with two more years of this disaster.”
  • “You can’t ignore the economic fundamentals leading to a likely recession, and the administration [in Washington] is either stubborn or as paralyzed as a deer in headlights”
  • “Government overspending and transfer  programs have inflated the money supply while resulting in unchecked corruption  and waste. We will be paying that bill for generations, and what a colossal  waste of resources and missed opportunity.”
  • “Everything we buy and sell comes and  goes by truck, if we can get a truck at any price. Inflation will continue  until the country is self-sufficient in oil and gas. The current political  policy may not change until 2024. Therefore, inflation will be our consistent  companion for a while, then stagflation!”
  • “We see the environment for the oil  industry becoming even worse than the previous months. Biden is promoting a  very caustic attitude toward the oil industry, which doesn’t help the country  in any way.”

We bring it up because today we got the latest monthly update from the Dallas Fed Manufacturing Activity survey, which came in largely as expected at -12.9 (exp -12.7) and well above last month’s catastrophic -22.6.

And while there was the usual stabs at the Biden admin among the various respondents to the August survey…

  • The Biden administration, Congress and the Federal Reserve are on a negative path for the economy.
  • We are on the verge of losing confidence for the rest of the year.

… the one response that was probably the most informative this month did not have to do with Texans’ views of Biden but rather how the food industry is changing as a result of soaring food prices. What we learned is that one of the fringe benefits of the inflation surge is that for once, Americans are actually eating less!

We are seeing moderate (-2 percent to -4 percent) decreases in volume, which is a shift from our historical volume trends (+6 percent).

Less remarkable, but more amusing is that in addition to eating less, American consumers are trading down, much to the chagrin of “organic beef sausage.”

Consumer behavior is shifting to lower-priced items in our category as they struggle with inflation. We see particular stress in our highest-end products, notably our organic beef sausage, as consumers trade down.

Finally, the good news for US food companies is that as always, high prices are the cure for high prices, and as volumes shrink, corporations are starting to cut prices…

We see strong consumer response to promotions, which is driving up costs. We are currently recasting our volume forecast to align with this reality and believe that we can hit our financial targets for the year with increased operational efficiencies.

… which means a return to normalcy is in store, but not before a major hit to profit margins over the next several quarters.

END

iii)USA economic commentaries

Powell’s Double Challenge: Slowing Economy And Vanishing Liquidity

MONDAY, AUG 29, 2022 – 08:25 AM

Authored by Daniel Lacalle,

The hawkish tone of the Fed’s chairman Jerome Powell on Friday 26th was unequivocal. His most important sentence, in my view, was the following: “With inflation running far above 2% and the labour market extremely tight, estimates of longer-run neutral are not a place to stop or pause.”

What does this mean? The Fed will do what it takes to cut inflation if the labor market remains strong. These strong messages sent ripple effects to markets. Stocks and risky assets fell in unison and the US dollar relative strength created another widespread depreciation of weaker currencies.

The Fed knows that inflation is fundamentally a monetary phenomenon and that they must correct the mistake made in 2020 by increasing dramatically money supply and sending rates to even lower territory.

Inflation is the destruction of the purchasing power of a currency. One or two prices may rise due to an exogenous factor, but all prices cannot go up at the same time if the amount of money in the economy is unchanged. Other prices would fall with the same amount of currency.

However, the Federal reserve may be too complacent about the strength of the economy and dangerously optimistic about liquidity in markets.

It is impossible to create a monetary tsunami slashing rates and pumping trillions of newly printed dollars into the economy and expect it to correct with a small splash of water in the face. It is worse, it is impossible to create a soft landing with an overheated engine. The monetary excess of 2020-2021 was not just the Fed’s creation, but every single developed economy large central bank.

Therefore, it is even worse.

Powell needs to believe that multiple monetary tsunamis engineered at the same time are going to be controlled with no damage to a bloated and indebted economy.

The first challenge Powell faces is that rate hikes are not even enough to address inflation. Rate hikes reduce the growth in new money creation but does nothing to avoid all the excessive currency issuance coming from fiscal policy. While Powell may reign on the rate of inflation, the U.S. and European administrations are still consuming trillions of newly created currencies via deficit spending.

The latest anti-inflation plan precisely shows this. An anti-inflation program that will be financed with debt and newly created currency. Fascinating. It is even more fascinating to read that the recently announced student loan forgiveness program will be “fully financed” by deficit reduction. How can something be “fully funded” by a “deficit reduction” that easily means a half a trillion US dollar deficit anyway? Are we insane?

Powell and the Fed officials should be concerned by a tightening of monetary policy that will perpetuate bloated government spending and the productive sector, families, and businesses, will be the only ones suffering the normalization.

Powell’s second challenge is liquidity. While money supply globally remains stable, the depreciation of key currencies against the US dollars is creating two negative flows: Faster destruction of purchasing power of currencies and outflows of capital from global economies and into the US dollar.

Within this second challenge comes another problem. Central banks that cannot be hawkish enough and even when they are the vacuum effect of the U.S. dollar continues. This is caused by years of excessive and careless money creation.

In the eurozone, for example, money supply (M2) growth remains much higher than in the “Draghi bazooka” years yet liquidity is vanishing rapidly in the riskier asset classes, high yield, and non-secured loans.

Liquidity limits to bank lending are already evident in an economy that still needs two trillion US dollars in reverse repo programs. Reuters warned that “the trillions of dollars in overnight cash tucked away daily at the Federal Reserve could turn into a major headache for banks that could squeeze their balance sheets and impair their ability to lend.”

The Fed should be aware that massive reverse repo programs are not a sign of an adequate function of markets, but a warning sign of lack of confidence that can create a credit crunch in what continues to be a sea of liquidity.

Can you imagine? Vanishing liquidity for the credit system due to previous excess liquidity created by years of money printing.

Powell and the Fed may also be too complacent about the global and U.S. economy. The manufacturing PMI (purchasing manager’s index), both in the United States and in the European Union, show weakness. Furthermore, the global manufacturing PMI has been falling since March, and close to contraction. The United States is at 51.3 points, being 50 the level of contraction, and the Euro Area at 49.7, already in contraction.

The OECD leading indicator of economic activity has also been in contraction for three months in the European Union and the United States.  In the United States the University of Michigan consumer confidence has only bounced from a very low level.

If we look at all leading indicators for the U.S. economy, they show weakness and elevated inflation.

Powell cannot perform miracles.

There is no way in which rate hikes alone will solve the inflation problem if governments continue to spend new currency as I nothing has changed.

The current path of normalization means that the burden of tightening will be fully paid by families and small businesses while government size continues to expand in the economy, and that means less growth, more taxes and probably more persistent inflation for longer.

END

Ford raising prices on its Mustang Mach  E by as much as $8,000

(zerohedge)

Ford Hikes Mustang Mach-E Price By As Much As $8,000

MONDAY, AUG 29, 2022 – 06:55 AM

It was just days ago we wrote about how Ford was hiking the price of its F-150 EV by almost exactly the same amount offered as an EV subsidy in the Biden administration’s new “Inflation Reduction Act”.

While some argued that the price hikes came days before the Act was signed by President Biden, and therefore weren’t definitive proof that Ford was just price gouging the government’s latest handouts, we think that argument has now officially been put to rest, with Ford now also increasing Mustang Mach-E EV prices between $3,000 and $8,100, depending on Model.

The company is “also increasing shipping costs by $200 on all models,” according to Automotive News’ Michael Martinez. 

The company says the new price reflects “significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions,” according to The Verge. They provided a breakdown of the increases by model type:

  • Select RWD Standard Range: $46,895 ($43,895)
  • Select eAWD Standard Range: $49,595
  • California Route 1 eAWD Extended Range: $63,575 ($52,450)
  • Premium RWD Standard Range: $54,975 ($48,775)
  • Premium eAWD Standard Range: $57,675
  • GT Extended Range: $69,895 ($61,995)

The kicker is that the Mach-E may not even be eligible for the new tax credit until 2024, due to requirements that 40% of the vehicle’s components are made in North America or by a US trading partner, the report says. 

Recall, just days ago, we wrote that Ford had hiked its F-150 EV price. Ford announced last week that it is raising the price of its high end electric F-150 by up to $8,500; an amount that adds another $1,000 onto the new $7,500 EV subsidy that was including in President Biden’s “Inflation Reduction Act”. Base models are seeing their prices hiked by $7,000. 

The electric F-150 had previously been listed for $40,000 for its base version. Now, it is priced at $47,000, according to CNN. The better equipped versions of the vehicles have similar price hikes, up to $8,500. 

Rather than come right out and state what appears to be the obvious, Ford said that the price change is due to “significant material cost increases and other factors.” They are making the same claims about the Mustang Mach-E price hike. 

Other factors like…oh, say, a $7,500 taxpayer subsidized cash grab?

iii b) USA/North American logjams/supply issues/

end

SWAMP STORIES

Ex-FBI Intel Chief Says DOJ Has “No Case” Against Trump

MONDAY, AUG 29, 2022 – 11:05 AM

Authored by Jack Phillips via The Epoch Times,

A former assistant director in the FBI said he believes the affidavit used to obtain a search warrant of former President Donald Trump’s Mar-a-Lago reveals the government has “no case” against him.

“We now know why the DOJ wanted the affidavit—which is supposed to articulate the probable cause needed for a legitimate search—to be kept under seal,” wrote Kevin R. Brock, the former assistant director of intelligence for the FBI and principal deputy director of the National Counterterrorism Center (NCTC), in an opinion piece published Sunday.

The affidavit was ordered released by a U.S. magistrate judge last week in response to court filings submitted by media outlets and third parties. The legal document, however, was heavily redacted and revealed very little about what the FBI agents were searching for on Aug. 8 and why.

“First,” Brock wrote, “the affidavit confirmed that the FBI’s investigation was triggered in January 2022 at the request of the National Archives, which wanted certain documents, especially classified documents, that it considered to be presidential records to be turned over to it by Trump.” But there appears to be nothing “in the affidavit asserting a refusal by Trump to cooperate,” he wrote.

“Second, from what I have seen, I don’t believe the affidavit articulates how a federal law was or is being broken. For those who hold out hope that the affidavit’s redacted sections fill that gap, there is almost no chance that they do,” he continued.

The legal document’s probable cause arguments only deal with “half of what is needed to show a possible violation of the federal statutes that are cited in the warrant,” Brock wrote, adding that based on his experience, it’s unlikely the government will release more of the redacted portions of the affidavit.

‘Cannot Be Proven’

In order to obtain a warrant, it’s not sufficient for the affidavit to only argue that there is cause to believe Trump had allegedly classified documents at Mar-a-Lago, the former official said.

At the same time, the unredacted portions do not make the case that Trump wasn’t authorized to have the documents at his Florida residence.

“A criminal violation of those statutes only exists if it can be established that the person being investigated was not authorized to possess, store, transfer or copy those documents,” Brock said.

“This is an easy element to establish against anyone in America. Except one person.”

Trump and former aides have said that while president, he had a standing order to declassify materials that left the White House’s Oval Office and were sent to Mar-a-Lago.

Meanwhile, Trump wrote in October on his now-banned Twitter account that he had declassified some FBI-related materials. He also issued an order on Jan. 19, 2021, to declassify some FBI Crossfire Hurricane documents.

“As president, he had broad, legally intimidating authority, established by law and court determinations, to declassify any and all documents and to determine what is and is not a presidential record,” Brock wrote.

“Trump and his legal team have asserted that this authority was exercised while he was still president. Therefore, a violation of these fairly low-level and seldom-prosecuted document-oriented statutes cannot be proven.”

end

BREAKING: Researchers Release Proof Of Over 20,000 ILLEGAL Voters In 2020 Election In One Georgia County – Biden Margin Of Victory Was 11,779 [VIDEO] – enVolve

Inbox

Robert Hryniak12:47 PM (11 minutes ago)
to

Is this the next shoe to fall…. Looks like Biden could not have won Georgia .. does that also suggest the Governor and Sectary of State are also off???
The real question is who will act if anyone ????

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END

THE KING REPORT

The King Report August 29, 2022 Issue 6832Independent View of the News
Powell speech at Jackson Hole highlights (via WSJ, BBG)Size of September rate hike hinges on ‘totality’ of dataHistory cautions against prematurely loosening rates too soon (We said this long ago!)Will likely require restrictive policy/rate hikes for some timeOverarching focus is to get inflation down to 2%Lower July inflation data welcome but need to see moreEconomy continues to show strong underlying strengthAt some point the Fed will be able to slow pace of rate hikesFed is taking ‘forceful and rapid’ steps to moderate demandRestoring price stability will take time, forceful Fed actionVery likely to see some job market softening due to Fed rate hikesNot restoring price stability would be even more painful for the economyCentral banks have the main responsibility for lowing inflationLong-term inflation expectations appear well anchored 
Stocks declined modestly during Powell’s unremarkable speech.  Bonds fell about ½ point.  The dollar, however, sank sharply.  Jerome performed in accordance with what most Street pundits espoused: The beleaguered Fed CEO reiterated what Fed officials have asserted since Powell’s neutral rate gaffe.
 
After Powell finished his speech, the stock and bond market decline accelerated.  The dollar rallied from being down sharply to a modest decline.  Traders that expected Powell’s dovish nature to surface during the speech were disappointed.  Powell speeches often begin with hawkish overtones but end with a dovish grant to financial asset holders.  Traders that played for the Powell speech/Q&A pattern were caned.
 
Lost in the fixation on Powell’s speech: July Personal Income and Spending are very troubling: July Personal Income 0.2% m/m, 0.6% consensus; Spending 0.1%, 0.5% expected
 
ESUs hit a bottom 7 minutes before the European close.  USUs hit a bottom of 136 26/32 at 8:28 ET.  Then USUs gyrated wildly in a one-point range during Powell’s speech.  Finally, bonds jumped to a daily high of 138 8/32 at 11:44 ET.  It appeared that defensive asset allocators were in the market.
 
Instead of a Noon Balloon, ESUs and stocks fell when the noon hour arrived.  A modest rally appeared during the final 18 minutes of the noon hour; but ESUs and stocks retreated to new lows when the afternoon arrived.  USUs were a point below the high at the time.   ESUs and stocks declined until the NYSE close.  Too many traders got long, particularly on the late Thursday rally, in anticipation that the above-mentioned Powell proclivity to mitigate hawkish talk would appear on Friday.
 
From our report on Friday: Negative aspects of previous session
The Street is set up for a major disappointment if Powell is hawkish.
 
The Dollar Index was down sharply before Powell’s speech; it turned positive at 11:07 ET.  Precious metals sank on Friday.  Other commodities declined moderately; energy rallied modestly.
 
Positive aspects of previous session
Stocks, bonds, & precious metals rallied sharply.  Does someone know something about Powell’s speech?
Chinese Fangs led the rally.  The NY Fang+ Index soared 3.06%: Baidu +8.73%, Alibaba +7.97%
 
Negative aspects of previous session
Stocks got crushed because Powell said nothing dovish
Equities suffered severe technical damage; Fangs got eviscerated
 
Ambiguous aspects of previous session
Will Powell’s speech now reduce the need for Fed officials to issue hawkish remarks?
 
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open: Down; Last Hour: Down
 
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4106.1 5
Previous session High/Low4203.04; 4057.74
 
Biden was told NOT to cancel student loan debt by Janet Yellen and Jill – but Kamala pushed him to do it and the ‘$1Trillion’ scheme (per Wharton) was unveiled before it was properly costed
   The Education Department had not fully designed how the program would work, and student loan companies did not know what to tell the masses who called them… the announcement was made before White House economists could estimate its full cost… https://trib.al/3UhwRWt
 
U.S., Iran Edge Toward Nuclear Deal as Israel Warns It Cedes Too Much to Tehran
Israel’s prime minister says the agreement gives Iran a route to a nuclear weapon… Israeli Prime Minister Yair Lapid on Wednesday slammed the agreement being negotiated, saying it wouldn’t stop Iran from developing a nuclear weapon and would hand Tehran a significant financial boon… https://www.wsj.com/articles/u-s-iran-edge-toward-nuclear-deal-as-israel-warns-it-cedes-too-much-to-tehran-11661352794
 
Blackstone Single-Family Landlord to Halt Home Purchases in 38 Cities
    Company cites home price growth, market demand, regulations
https://www.arcamax.com/business/businessnews/s-2717219
 
@IAPolls2022: NBC POLL: For the FIRST time in the NBC poll’s history — 5 straight tracks with 70%+ of Americans saying the country is “off on the Wrong Track.”  https://t.co/03u8mMb0OB
 
@elonmusk: Population collapse due to low birth rates is a much bigger risk to civilization than global warming.  Mark these words.  (See Japan, Russia, some Old-World nations)
 
@CNN: Los Angeles voters will decide on a proposal in 2024 on whether hotels will have to offer vacant rooms to homeless people.  (Unconstitutional)   https://twitter.com/CNN/status/1562584045539581960
 
ECB’s Knot (Governing Council member) says he favors large rate hikes
https://www.reuters.com/markets/europe/ecbs-knot-says-he-favors-large-rate-hikes-nos-interview-2022-08-26/
 
Disney’s theme park price hike nets more profit from fewer visitors: report
(At first inflation can be helpful; then the ole elasticity of demand takes effect)  https://t.co/6RUXb1P5lI
 
@bespokeinvest: This was the 124th down day of 3%+ for the S&P 500 since 1952 when the 5-day trading week began.  When 3%+ down days have occurred on Friday, next-day returns have been pretty awful.  https://twitter.com/bespokeinvest/status/1563260187825553408
 
(On Saturday) Cleveland Fed’s Mester: Fed needs to raise rates to 4% and ‘hold them there’
There’s still a lot of inflation out there and I think we’re going to have to move interest rates up and continue to do that until we get compelling evidence that inflation is moving back down… We will keep at it until we are confident the job is done… It’s premature to even think that inflation has peaked… We want it to be on a sustainable downward trend.”… https://yhoo.it/3RjYl6F
 
Too much free government aid is fueling depressing ‘pro-lazy’ America (A trait of Socialism)
The US’s more generous unemployment benefits than other countries’ contributed both to its lower labor-force participation rate and, because of fewer workers to help meet demand, higher inflation…
   Slacker backer Doreen Ford, a part-time dog walker, is behind an antiwork subreddit forum, whose aim is to “reduce the coercive element of labor… by subverting capitalism.”…
https://nypost.com/2022/08/27/too-much-free-government-aid-is-fueling-pro-lazy-america/
 
Something very dark and sinister has infected the USA.  Unfortunately, it appears that things must get worse before they can get better.  Much, much more in the politics section of this report.
 
Today – Friday’s equity carnage suggests more downside for equities will appear.  On Wednesday, September 1, the Fed is supposed to increase its QT to $95B/month.  It’s too early to play for a bounce.  If things are ugly today, there could be a Turnaround Tuesday as part of August performance gaming.
 
ESUs are -44.50 and USUs are -20/32 at 20:15 ET.  Expected economic data: Aug Dallas Fed Mfg Activity -12.2; Fed Gov Brainard 14:15 ET
 
S&P 500 Index 50-day MA: 3991; 100-day MA: 4079; 150-day MA: 4190; 200-day MA: 4310
DJIA 50-day MA: 32,002; 100-day MA: 32,541; 150-day MA: 33,140; 200-day MA: 33,795
 
S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender and MACD are negative – a close above 4849.55 triggers a buy signal
WeeklyTrender and MACD are positive – a close below 3877.02 triggers a sell signal
DailyTrender and MACD are negative – a close above 4257.90 triggers a buy signal
Hourly: Trender and MACD are negative – a close above 4141.93 triggers a buy signal
 
The affidavit that is the basis for the Mar-a-Lago raid is so heavily redacted that it is meaningless.  The raid probable cause is redacted!  https://twitter.com/seanmdav/status/1563204600852729857/photo/1
 
Entire affidavit: https://storage.courtlistener.com/recap/gov.uscourts.flsd.617854/gov.uscourts.flsd.617854.102.1.pdf
 
@GabbyOrr_: Describing contents of the 15 boxes NARA collected from Mar-a-Lago in Jan. 2022, the affidavit reads: “Of most significant concern was that classified records were unfoldered, intermixed with other records, and otherwise unproperly [sic] identified.”
 
@seanmdav: DOJ and FBI are so corrupt that they’re redacting their reasons for redactions in their justification for raiding a U.S. president’s home. However much contempt you have for these lawless agencies, it’s not nearly enough.  https://twitter.com/seanmdav/status/1563199497463033857
 
Once again, ala Russiagate, media stories are predicates for a search warrant on Trump!
A Breitbart News article, based on an interview with ex-WH official Kash Patel, was cited. https://breitbart.com/politics/2022/05/05/documents-mar-a-lago-marked-classified-were-already-declassified-kash-patel-says/
 
@seanmdav: Biden’s DOJ told a federal court that the FBI had to raid Trump’s house because a CBS news article saw trucks at Mar-a-Lago (On January 18, 2021) when Trump was president. (Pundits believe the FBI feared that Trump had the Crossfire Hurricane documents then and this is the real reason for the recent raid.) https://twitter.com/seanmdav/status/1563205212105768960
 
(Ex-Gorsuch clerk) Mike Davis Breaks Down the Unsealing of The Affidavit of The Mar-A-Lago Raid: President Trump on January 19, the day before he left office, signed a declassification memo in the Justice Department, and the intel community, and the National Archives have dragged their feet. They don’t want to make these records public, and I think that’s what is driving this home raid. The Biden Administration deliberated for weeks. Attorney General Merrick Garland said they judge-shoppedThey went to this biased Judge Bruce Reinhart, Magistrate Judge Bruce Reinhart, who just recused from President Trump’s civil lawsuit versus Hillary Clinton 8 weeks ago on June 22nd because he has a clear bias towards President Trump as evidenced by his 2017 Facebook post trashing President Trump. Somehow his bias went away over the last 8 weeks, and this judge is going to rubber-stamp the Biden Justice Department’s proposed redactions because this judge has the same incentive as the Biden Justice Department which is to cover their tracks here,” Davis told Ingraham…
    This was a political witch hunt — authorized, unprecedented, unnecessary, unlawful, political witch hunt — authorized by Attorney General Merrick Garland to get back these Crossfire Hurricane recordsNumber two on the inventory of the raid, the leather-bound documents, that’s what this is all about. They wanted to get these documents back because they are so damning”, Davis concluded…
https://www.publishedreporter.com/2022/08/26/speaking-to-laura-ingraham-mike-davis-breaks-down-the-unsealing-of-the-affidavit-of-the-mar-a-lago-raid/
 
According to reports, elements of the FBI’s Crossfire Hurricane team ran the Mar-a-Lago raid.
 
Devin Nunes says FBI was after Russiagate hoax documents
https://thepostmillennial.com/breaking-devin-nunes-says-fbi-was-after-russiagate-hoax-documents
 
@kristina_wong: Patel said the material “spoke to matters re: everything from Russiagate to the Ukraine impeachment fiasco to major national security matters of great public importance — anything [Trump] felt the American people had a right to know is in there and more.”
 
@seanmdav: According to the government’s own affidavit demanding authority to raid Trump’s home, the unprecedented raid was necessary because a bureaucrat at the National Archives was mad that Trump had “newspapers, magazines, [and] printed news articles.” https://storage.courtlistener.com/recap/gov.usco
 
@joelpollak: The FBI didn’t know there were any defense documents at Mar-a-Lago; the special agent just testified in the affidavit that “[b]ased on my training and experience” he or she believed the documents to contain such information. Unbelievable!  https://twitter.com/joelpollak/status/1563204998988582914
     So the DOJ justified a raid on a former President based on: disorganized boxes that included some documents with classified markings; suspicion (not evidence) of defense info in documents; opinion (not law) that president didn’t have authority to declassify – Incredibly weak.
 
Ex-US Atty @tolmanbrett: I’ve gone through the redacted affidavit a couple of times now. Including Attachments. I’m not impressed. There are so many concerning issues it is hard to know where to start.
    1–it does not appear to include any exculpatory evidence or mitigating facts. While it includes a letter from Trump’s lawyers it doesn’t acknowledge potential advice of counsel defenses or even that they may lack authority to bring such a case against a former POTUS
    2-It has no factual evidence attributable to the mens rea requirement —which is the burden the Gov’t must meet showing criminal intent of the target. If it’s in there it is redacted.
    3-The affidavit is filled with conclusory statements “there is probable cause” is stated authoritatively but without any reference to whom the PC applies nor to sufficient facts supporting such PC.  It is surprising that Reinhart signed this given that the overwhelming tenor of the unredacted facts are a civil dispute over which documents can or cannot be retained versus sent to NARA. Criminal Intent appears nowhere in the affidavit.
    4–(My Favorite part) The focus of the facts is less on if FPOTUS may or may not be able to possess but whether docs are in a secure, designated roomNo mention that the whole place is secured by the Secret Service.
    5-There does not appear to be PC to search the safe. The safe is also not listed on places to search nor described in the factual justifications.
    6-There is no set of facts revealed to show that the target transported, removed, destroyed, altered or instructed others to do so Re: classified docs.
    7-The affidavit instructs the judge of the applicable law but withholds any mention of court decisions re a POTUS’ unfettered ability to declassify and fails to inform the Court that a FPOTUS may fall outside the criminal statute.
    8-Shockingly, it admits that the FBI searched through boxes of documents that NARA had recovered and did so pursuant to their “criminal investigation” but did not use a Taint Team to ensure they were not reviewing privileged documents.
    9-The brief reference to the article citing Kash Patel’s statements that documents were declassified should have given the judge pause that this is not a criminal case, and that requisite Mens Rea would be impossible to establish against the target.
 
@StephenM: The idea, spelled out in the affidavit, that the Archives sicced the FBI on President Trumpon the premise that unelected bureaucratsnot POTUS, had final authority on national security—can only be construed as an attempt to overthrow our entire democratic constitutional order.
 
Paul Sperry: The FBI affiant who swore to the Mar-a-Lago search warrant appears to have made a critical factual error by stating in the unsealed affidavit: “I do not believe that any spaces within the PREMISES have been authorized for the storage of classified information.” This finding, which is the linchpin of the criminal case vs. Trump, overlooks the fact that:
    1) White House records confirm that a Sensitive Compartmented Information Facility (SCIF) authorizing the briefing and storage of classified material up to the TS/SCI level had in fact been installed at Mar-a-Lago; and,
    2) records show that the Secret Service had recently awarded a nearly $600,000 contract to upgrade physical security within the premises at Mar-a-Lago for Trump’s post-presidency transition
 
Sperry later posted: The unsealed FBI affidavit contains several oddities:
     1. Nowhere does it flat-out say “classified information” was found in Trump’s 15 boxes. On page 2, it refers only to docs “with classification markings,” which raises the specter they were no longer classified
     2. It states the docs “appear” to contain National Defense Information. But agents “triaged” the boxes; they would know if they contain NDI or not
     3. The affiant claimed “there is probable cause to believe evidence of obstruction will be found at the premises,” yet there’s no “obstruction” header or section spelling out why he believes this
    4. He said he doesn’t believe “any spaces” w/in Mar-a-Lago are “currently” authorized for storage of classified info. So they were, but not “currently”? https://thelibertydaily.substack.com/p/critical-factual-error-by-fbi-raid
 
@TomFitton: Signs are the Biden operation raided Trump’s home to see what he had…on them.  Watergate break-in pales in comparison.
 
FBI’s former intel chief on raid of Trump home: ‘I think they are going to regret this’
Should not have criminalized the records dispute between Donald Trump and the National Archives and that the bureau appears to have failed to meet the probable cause standard for the invasive search…  https://justthenews.com/politics-policy/all-things-trump/fbis-former-intel-chief-raid-trump-home-i-think-they-are-going
 
Fox’s Jesse Walters said the FBI took Trump’s passport, a weather map, and presidential raincoat.  Walters asserted that evidence is growing that there was a massive conspiracy to rig the 2020.
 
There is NO mention of nuclear-related documents in the affidavit.  More WaPo fake news?
 
Judge announces ‘preliminary intent to appoint a special master’ to review Trump records seized by FBI – follows Trump’s motion seeking an independent review of records seized by the FBI
https://www.foxnews.com/politics/judge-announces-preliminary-intent-appoint-special-master-review-trump-records-seized-fbi
 
Tucker Carlson: The FBI has been working on behalf of the Democratic Party
You don’t get to learn about anything about Ashley Biden showering with her father. You can get arrested for that. You don’t get to know how many FBI assets were in the crowd on January 6 and what they were doing… you don’t get to read the affidavit justifying the FBI’s indefensible raid on the home of Joe Biden’s primary political opponent. In fact, you don’t even get to know why you’re not allowed to know because that information has been redacted too…
    So. it turns out, looking back 18 months, the 2020 election was the most consequential election of our lifetimes. You assume Joe Biden was incapacitated and couldn’t change much. Well, true, he is incapacitated, but the people behind him most definitely are not. They are more ideological and more aggressive than ever. Now it turns out among those people is our largest and most heavily armed federal law enforcement agency. That would be the FBI. The FBI is not allowed to insert itself into domestic politics. That would violate the U.S. Constitution. It is completely illegal, but for several years it has become increasingly clear that that is exactly what the FBI is doingactively working on behalf of the Democratic Party, mocking the rule of law, subverting our democracy from within far more effectively than any foreign government ever could…
    Weeks before the 2020 election, the FBI pressured social media companies to kill the story of Hunter Biden’s laptop. Why? Because that was a story that might have prevented Joe Biden from becoming president… This is a huge problem. This cannot be ignored any longer. 
https://www.foxnews.com/opinion/tucker-carlson-fbi-working-behalf-democratic-party
 
Former Trump intel official suggests Zuckerberg’s FBI story amounts to election interference
Carlson noted the FBI was more fervent in probing the NASCAR noose incident than Hunter Biden’s laptop… https://www.foxnews.com/media/former-trump-intel-official-suggests-zuckerberg-fbi-story-amounts-election-interference
 
The FBI, responding to being caught inducing censorship that abetted Biden, coyly stated that it routinely warns social media about ‘malign influence’.  First, this is not their prevue.  Secondly, how come all the censorship in accordance with The Swamp and Democrats?
 
(Liberal talk show host) Bill Maher slams Dems for supporting ‘conspiracy’ by liberal media and Facebook to suppress Hunter Biden laptop story to get Trump out of White House – and says they must admit he was ‘selling the influence of his father’ – Maher said that liberal thinking was: ‘It’s okay to have a conspiracy to get rid of somebody as bad as Trump’…
https://www.dailymail.co.uk/news/article-11152045/Bill-Maher-slams-Democrats-supporting-conspiracy-Facebook-suppress-Hunter-Bidens-laptop.html
 
GOP lawmaker has a message for Christopher Wray and the FBI: On day one we’re bringing you in – Andy Biggs says Facebook’s disinformation campaign is potentially ‘criminal in nature’
    Zuckerberg doesn’t have clean hands because he distributed over $400 million to try to influence the election… We’re going to have to find out who actually approved this disinformation campaign to Facebook and Twitter and the big tech behemoths that are going to influence the election
https://www.foxnews.com/media/gop-lawmaker-message-for-christopher-wray-fbi-day-one-were-going-in
 
@SteveDeaceShow: Whether the Biden White House trying to get Alex Berenson banned, or the FBI telling Facebook to censor Hunter Biden’s laptop, we now have multiple confirmations across multiple platforms that government is trying to use private entities to impose censorship like it did the jab.
 
@FirebrandPAC: Tucker segment tearing into collusion between Facebook/Big Tech censoring the Hunter Biden laptop story: “When the FBI told Facebook that on the eve of a presidential election, they knew it was a lie. They interfered in the last presidential election.”
 
@seanmdav: The three most corrupt and destructive institutions in America today are the corporate media, Big Tech, and the FBI. They colluded to illegally ban American citizens from exercising their rights during the 2020 campaign so the regime could put the Biden crime family in the WH.
 
@julie_kelly2: And some people still think the FBI had nothing to do with Jan 6 lol
 
Twitter locks popular ‘Libs of TikTok’ account https://t.co/yHSp7jPKr9
 
Fox contributor @dangainor: Remember this? FBI ordered the press not to take photos of the meeting. (Bill Clinton & AG Loretta Lynch) This reporter is the only reason we know about it. | Former Phoenix reporter who broke story of Clinton-Lynch tarmac meeting found dead
    Former Phoenix reporter who broke story of Clinton-Lynch tarmac meeting found dead
He moved back to Alabama in 2017 to work with ABC 33/40 to spend more time with his family, according to the station’s obituary…Police said his death appeared to be a suicide.
https://www.azcentral.com/story/news/local/arizona/2021/06/13/former-phoenix-reporter-who-broke-clinton-lynch-tarmac-story-dies/7679503002/
 
Cong. Ron Paul in 1988: “Woodrow Wilson used the FBI to spy on American citizens and actually arrest them if they disagreed with his policy of going to war in Europe… It almost looks like the FBI was designed to spy on Americans who might be disagreeing with policyespecially foreign policy…”
https://ms-my.facebook.com/yaliberty/videos/ron-paul-was-right-about-the-fbi-decades-ago/1875494729320005/
 
Republicans Don’t Get It – Joe Biden and congressional Democrats are plowing new and dangerous ground. Meanwhile, the GOP is silent.  When Senate Minority Leader Mitch McConnell (R-Ky.) looks around his adopted hometown of Washington, D.C.—a city shamelessly and aggressively using every lever of federal power to destroy Donald Trump and the 76 million Americans who dared to vote for him in 2020—he sees only one menace to the well-being of the nation: January 6 protesters…
    January 6 was very good for McConnell; he got exactly what he wanted after the tear gas smoke cleared that evening… not only did McConnell intentionally leave the Capitol largely unguarded, he warned of the irreparable damage to the republic if his Senate Republican colleagues demanded an audit of contested states—the “official proceeding” actually taking place when the building was breached. McConnell later cooed to a reporter that he had prevailed that day.
    “Exhilarating” is how McConnell described his emotions after congressional Republicans, cowed by the four-hour disturbance, abandoned their plans to seek a 2020 election audit commission
    The Capitol protest is being used as the pretext to criminalize political dissent… But McConnell, his Senate GOP toadies, and most Republican House members are intentionally oblivious to the radical weaponization of the Justice Department… (‘Tis why McConnell has lower approval ratings than Biden)
    Who in the GOP is detailing how Congress will dismantle this abusive administrative state targeting their own voters? Where is the pledge to cut off funding to the FBI and U.S. attorney for the District of Columbia, a Biden campaign advisor now handling the vengeful prosecution of Trump voters?…
https://amgreatness.com/2022/08/25/republicans-dont-get-it/
 
@AnnCoulter: Hey, didn’t Trump endorse Blake Masters (AZ Sen)?  Can’t he spend some of his $100 million campaign money haul on him, now that Mitch McConnell has bailed? (Mitch pulled AZ ads)
https://twitter.com/AnnCoulter/status/1563982339910389761
 
Over the weekend, beaucoup pundit commentary appeared that alleged: ‘McConnell would rather rule over a minority that he can control instead of a majority that he cannot control.’
 
Biden after he calls on wrong reporter: “I… I took control. I shouldn’t do that. I’m not allowed to do that.” *Biden’s handlers kick the press out of the room* https://twitter.com/realDailyWire/status/1563197910405111814
 
Biden seemingly apologizes to White House staff after taking too many media questions: ‘I shouldn’t do that’ – Biden’s apology had Twitter users wondering whether the president’s handlers control every aspect of his presidency
https://www.foxnews.com/media/biden-seemingly-apologizes-white-house-staff-taking-too-many-media-questions-shouldnt-do-that
 
@RNCResearch: Why on earth is Joe Biden wearing a mask while walking alone outside?
https://twitter.com/RNCResearch/status/1563250750595416064
 
The Big Guy who pledged during the 2020 Campaign and in his Inaugural Address to be the ‘Unity President’ pitched yet another tirade at GOP voters, Trump, and specific GOP legislators.  Of course, the Democratic Party stenographers in the regime media will not rebuke The Big Guy for his deceit.
 
Biden’s ‘deplorables moment’: Joe calls Trumpism ‘semi-fascism,’ throwing ‘unity pledge in trash,’ @KarlRove says https://t.co/Lt99UNAhlX
 
@alexbruesewitz: Democrats are claiming that “MAGA Republicans are fascists” while simultaneously trying to arrest their political opponents.
 
The Big Guy on Thursday night in Maryland: “I don’t respect these MAGA Republicans…”
 
Rep. Marjorie Taylor Greene @RepMTG: I don’t respect you for leaving our border wide open allowing an invasion & deadly drugs in daily, arming the Taliban, wrecking our economy, killing our energy independence, & supporting killing the unborn & genital mutilation of children. Go to hell Joe.
https://twitter.com/RepMTG/status/1563153395724460032
 
The Big Guy preposterously and insanely told the crowd in Maryland on Thursday night, “if we elect two more senators, we keep the House in Democrats, we’re gonna un, get a lot of unfinished business we gonna get done… We will codify Roe v Wade, ban assault weapons, protect social security and Medicare, pass universal pre-K, restore childcare tax credit, protect voting rights, make sure no one has the opportunity to steal an election again.  https://twitter.com/Breaking911/status/1562968595977875460
 
The Big Guy is either so addled that he doesn’t realize that Dems control Congress now, or he thinks Americans are stupid.  if Joe is referring to Trump stealing the 2016 Election, isn’t Biden a threat to US democracy, an insurrectionist, and a conspiracy theorist that should be impeached?
 
Some idiotic Biden staffer convinced The Big Guy that using MAGA as pejorative is a good policy.  Trump supporters wear the epithet as badge of honor and rallying cry.  Each time the titular president hurls the term, he commits political malpractice. 
 
@jacobkschneider: “Not today,” says Biden (condescendingly, of course) when asked if he has “spoken to any of the family members of the 13 soldiers who died last year in Afghanistan” https://t.co/7i10J1y8bf
 
@h0memadetweets: This has got to be a first in history, a first lady physically moving the president backwards while he’s speaking to the press.  https://twitter.com/h0memadetweets/status/1563651918148210689
 
TUCKER CARLSON: Democrats are trying to shift blame about the COVID-19 vaccine to Trump
The vaccine is Donald Trump’s doing. We learned that this week from Democrats in Congress… An investigation by the Coronavirus Subcommittee found… the Trump administration pressured the Food and Drug Administration to authorize the first COVID-19 vaccines on an accelerated timeline…
     Your first reaction would be, “Wait a second, this seems like a revision of what I saw personally. Wasn’t it Joe Biden who promoted the vaccine, who made it mandatory? Wasn’t Joe Biden in charge when it became obvious the vaccine didn’t work? And didn’t Joe Biden’s media tell us to get the shot months after Donald Trump left office?”…
    Democrats are panicked about being blamed for the single greatest public health disaster in history and they’re trying to shift the blame to Donald Trump before the full truth about the vaccine comes out and it is coming out and the midterms are on the way… Now that Donald Trump is responsible for the vaccine, we can finally talk about the vaccine Now that we can blame Donald Trump for the vaccine, we can finally tell the truth about the vaccine without being fired or attacked or thrown off the Internet…
    According to data from New Zealand… children who were vaccinated between the ages of 10 and 19, were more likely (not less likely) more likely to die within a month of vaccination than those who didn’t take the vaccine in the same age group… a Dutch researcher called André Redert  published a paper entitled “COVID-19 Vaccinations and all-cause mortality.”
    The research analyzed hundreds of cities and towns. What did it find? “We could not observe a mortality reducing effect of vaccination in Dutch municipalities after vaccination booster campaigns. We did find a 4-sigma significant mortality enhancing effect during the two periods of high unexplained excess mortality.”… Oh, so the data suggests, don’t prove, but suggests the vaccine may be killing people. Unexplained mortality is also on the rise in many other countries—Australia, England, Wales…
    The Lancet article entitled “Risk of Infection, Hospitalization and Death up to nine months after a second dose of the COVID-19 vaccine”… shows that people over the age of 80 have worse outcomes and by worse, we mean more hospitalizationsmore deaths when they’re vaccinated than when they are unvaccinated… immune function among vaccinated individuals eight months after the administration of two doses of COVID-19 vaccine was lower than that among unvaccinated individuals.”
    That sounds like it’s hurting people’s immune system in a profound way. As the Journal of Food and Chemical Toxicology put it after an independent study, “Vaccination introduces a profound impairment in type one interferon signaling which has diverse adverse consequences to human health.”…
    On top of that, there is heart inflammation, myocarditis… Researchers in Israel, meanwhile, found that vaccination increased the 42-day risk of myocarditis by a factor of three
https://www.foxnews.com/opinion/tucker-carlson-democrats-trying-shift-blame-about-covid-19-vaccine-trump
 
Something weird is happening with the excess death rate.
There is a higher mortality rate than normal, what is going on here?
    If we take a look at the excess deaths among children aged 0-14 across Europe, there has been a HORRIFYING 542% increase in excess deaths so far this year compared with the same time period in 2021. Why?… people are dying and nobody seems to be asking any questions or even barely talking about it…  https://petersweden.substack.com/p/excess-mortality-rate
 
Exhaustive study of German mortality finds excess deaths tightly correlated with mass vaccination
https://t.co/aapqbQdMo6
 
@DeSantisWarRoom: The letter from Charlie Crist and other Florida Democrats demanding lockdowns and statewide mask mandates in July 2020 was originally posted on former Rep. Shalala’s website. It has since been deleted. Here is the Archive linkhttps://t.co/6arQnDndxG
 
Moderna sues Pfizer/BioNTech for patent infringement over COVID vaccine (A sign that the Covid emergency is over) http://reut.rs/3Q7i0pr
 
Nate Silver: ‘Liberal elites’ pressured Pfizer to delay vaccine until after 2020 election
“… pushed Pfizer to “change its original protocols” that govern its authorization of vaccines so that the decision would be put off until after Election Day two years ago… https://t.co/A2ldZTKDrS
 
As feds ease COVID-19 rules, Biden cites pandemic ’emergency’ to cancel student debt
New guidance for federal workers from the Safer Federal Workforce Task Force, led by White House COVID-19 Response Team, follows CDC’s loosened, updated guidelines.
https://justthenews.com/politics-policy/coronavirus/biden-uses-covid-19-cancel-student-loan-debt-guidance-loosened-federal
 
How Biden helped create the student debt problem he now promises to fix   2 Dec 2019
The former vice-president and 2020 presidential hopeful backed a 2005 bill that stripped students of bankruptcy protections and left millions in financial stress
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
 
Nikki Haley fires back after tax forms leaked to media: ‘Republicans have been too nice for too long’ – arguing the move was a bid to intimidate conservative donors…”Liberals have ALWAYS weaponized gov’t against conservatives… Republicans have been too nice for too long…”
https://www.foxnews.com/politics/nikki-haley-fires-back-tax-forms-leaked-media-republicans-too-nice
 
@MikeTyson: “When I was younger, I was an all-out liberal, but as I get older and I look at my children and I see what’s out in the world, I get a little conservative. Ya know, It’s common sense… you want safety.”  https://twitter.com/newsmax/status/1563593878888120322
 
TikTok car theft challenge: Chicago area sees 767% increase in Hyundai, Kia thefts 6/13/2021
TikTok users are posting videos teaching people how to start Kia or Hyundai vehicles using the tip of a phone charger   https://t.co/NWZwnJFZXw
 
@CWBChicago: Another wild night of car “sideshows” popped up across Chicago overnight. CPD says six squad cars were damaged and crowds threw rocks, bricks, and fireworks at cops.  CPD is also investigating a fatal car crash that may be linked to sideshow caravans.
 
Washington Commanders’ (NFL) rookie running back in stable condition after being SHOT multiple times in attempted robbery  https://twitter.com/DailyMail/status/1564040696125874178
 
@ClayTravis: New York’s governor telling Republican voters, many of whom are wealthy and fund large parts of the NY government, to move to Florida is truly incredible to watch. Especially since the NYC mayor is traveling to Florida begging these guys to move back. (“Head down to Florida where you belong!  Get out of town! You don’t represent our values.  You are not New Yorkers!”) https://twitter.com/ClayTravis/status/1563745403438342145
 
California, Berkeley university law school student orgs pledge to boycott Zionist, pro-Israel speakers – The Berkeley Law dean called the statement boycotting Zionist speakers ‘troubling’
https://www.foxnews.com/us/california-berkeley-university-law-school-student-orgs-pledge-boycott-zionist-pro-israel-speakers
 
Prince Harry arrives in electric car to board private jet for one-day polo match https://t.co/MsUF9IJgSR
 
Note to Euro Lear Jet liberals and Prince Harry: Due green madness and Putin reliance, the cost of charging an electric car in Europe greatly exceeds the cost of fueling an internal combustion engine car.

 

 

Greg Hunter..

Framing Trump Again, Tsunami of Vax Lies, Tanking Economy

By Greg Hunter On August 26, 2022 In Weekly News Wrap-Ups174 Comments

By Greg Hunter’s USAWatchdog.com (WNW 544 8.26.22)

The Deep State Democrats are afraid Trump will help win the House and Senate in 2022 and be back in the White House in 2024.  It’s so bad that the White House, DOJ and FBI are trying to come up with a new crime to frame Trump.  The last frame job by the FBI was a spectacular failure as it was revealed the so-called “Russian Collusion” was ALL made up right down to the totally phony incriminating dossier paid for by Hillary Clinton.  This time, the frame job appears to be more out in the open as the judge, who signed the affidavit to raid Trump’s personal Florida residence, has ordered the affidavit to be unsealed.  It will also be redacted.  So, expect to see a lot of black ink.

That is not the only problem coming for Donald Trump.  I have been telling you for months about how bad the CV19 bioweapon/vax is and why Trump has to call a halt to the vax in the light of spiking deaths and injuries.  No doubt, Trump faced a tsunami of lies and liars about the vax.  Dr. Deborah Birx recently came out and admitted that she always knew the mRNA vaccine would “not protect against infection” of the CV19 virus.  This, after 600 million doses of swill they tried to pass off as a vaccine was injected into a gullible public.  Now, a House Select Committee says Trump authorized “unproven treatments” as the death and injury count from the vax is on its way to the moon.  President Trump was lied to by everyone about the CV19 vax.  It is not safe and not effective, but rather deadly and debilitating.  The death and injury numbers will be in the 10’s of millions for America alone before it’s all over.  Donald Trump will have to say it was all a mistake and he thought he was the “Father of the vaccine,” not a bioweapon that is killing in mass.  The sooner Trump sucks it up and says the CV19 vax was a huge lie and monstrous fraud, the better.  “Stop the Shots” should be Trump’s new battle cry.

If you think the economy is getting better, you are living in a protected fantasyland.  The government might shut down this Fall.  40% of small businesses cannot afford their rent.  20 million Americans are behind on their power bills, and their electric may be shut off by Fall.  The Fed looks like it’s going to continue to raise rates to fight inflation, but it will kill what’s left of the economy.  Oh, gas has gone down a bit, but it looks like it will be heading back up soon to record highs because of instability in Ukraine, China and the Middle East.

Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 8.26.22.

(https://usawatchdog.com/framing-trump-again-tsunami-of-vax-lies-tanking-economy/)

After the Interview:

Six-time best-selling author Jonathan Cahn will be the guest for the Saturday Night Post.  He’s coming to talk about his upcoming book “Return of the Gods” and reveal it’s really a return of demons and evil that is plaguing the world today.  He’ll tell you how to deal with the evil chaos that is happening all around.  You will not want to miss this.

end

See you TOMORROW

A little heads up:

I will not be providing a full commentary on Wednesday

but I will be providing preliminary numbers and finalize them late at night

Harvey

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