NOV 25//GOLD CLOSED UP $14.80 to $1754.40//SILVER CLOSED UP 46 CENTS to $21,46//COVID UPDATES// DR PAUL ALEXANDER//CHINA COVID PROBLEMS//CHINA UNLEASHES MORE STIMULUS/PINE NEEDLE STORY A MUST READ//OTHER MAJOR STORIES RE FTX
118 C MACQUARIE FUT 3 661 C JP MORGAN 4 737 C ADVANTAGE 9 2
TOTAL: 9 9 MONTH TO DATE: 6,620
JPMor
gan stopped 4/9
GLD
WITH GOLD DOWNxxx
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD//BIG CHANGES IN GOLD INVENTORY AT THE GLD: /////HUGE CHANGES IN GLD INVENTORY: A WITHDRAWAL OF 1.45 TONNES INTO THE GLD//
INVENTORY RESTS AT TONNES
Silver//SLV
WITH NO SILVER AROUND AND SILVER UP $.000
AT THE SLV// :/SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF OF 0.553 MILLION OZ INTO THE SLV
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV
CLOSING INVENTORY: 471.923 MILLION OZ (THIS IS ALSO A CRIME SCENE@!!!!
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUGE SIZED 709 CONTRACTS TO 128,198 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE STRONG LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR ZERO GAIN OF $0.00 IN SILVER PRICING AT THE COMEX ON WEDNESDAY. OUR SHORTERS/HFT WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.00., AND WERE SUCCESSFUL IN KNOCKING OFF SOME SPEC LONGS, AS WE HAD A SMALL SIZED LOSS IN OUR TWO EXCHANGES OF 366 CONTRACTS. WE HAD A SOME ATTEMPTED SPEC SHORT COVERINGS OF THEIR SHORTFALLS WITH SOME SUCCESS .WE HAD SOME SPEC SHORT ADDITIONS AS THE PRICE OF THE METAL WAS BASICALLY FLAT . // OUR BANKERS CONTINUE TO BE PURCHASERS OF NET COMEX LONGS. HUGE NUMBER OF NEWBIE SPEC LONGS ADDED TO THEIR POSITIONS CAUSING ADDITIONAL MISERY TO OUR SHORTERS. TODAY SPREADER LIQUIDATION CONTINUES
WE MUST HAVE HAD: I) SOME ATTEMPTED (WITH SOME SUCCESS) SPECULATOR SHORT COVERINGS WITH CONSIDERABLE SHORT ADDITIONS ////CONTINUED BANKER OI COMEX ADDITIONS /// HUGE NEWBIE SPEC LONG ADDITIONS. II) WE ALSO HAD SOME REDDIT RAPTOR BUYING//. iii) A FAIR ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.045 MILLION OZ FOLLOWED BY TODAY’S 335,000 QUEUE JUMP//NEW STANDING:3,290000 MILLION OZ/ / // V) STRONG SIZED COMEX OI LOSS/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:-7
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS NOV. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:
TOTAL CONTRACTS for 18 days, total 25,090 contracts: 125.450 million oz OR 6.969 MILLION OZ PER DAY. (1393 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 122.700 MILLION OZ
.
LAST 17 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
SEPT. 74.025 MILLION OZ///FINAL
OCT. 29.017 MILLION OZ FINAL
NOV: 125.45 MILLION OZ
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 709 WITH OUR $0.00 LOSS IN SILVER PRICING AT THE COMEX// TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE CONTRACTS: 350 CONTRACTS ISSUED FOR DEC AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS./ WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR NOV. OF 1.345 MILLION OZ FOLLOWED BY TODAY’S 140,000 QUEUE JUMP/ .. WE HAVE A FAIR SIZED LOSS OF 359 OI CONTRACTS ON THE TWO EXCHANGES FOR 1.79 MILLION OZ.. THE SILVER SHORTS ARE NOW TRAPPED AS THEY ARE HAVING CONSIDERABLE DIFFICULTY IN COVERING THOSE SHORTS. SPREADER LIQUIDATION WAS THE NAME OF THE GAME TODAY
WE HAD 76 NOTICE(S) FILED TODAY FOR 380,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 2348 CONTRACTS TO 448,245 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 551 CONTRACTS.
.
THE FAIR SIZED DECREASE IN COMEX OI CAME WITH OUR LOSS IN PRICE OF $2.10 COMEX GOLD TRADING/WEDNESDAY // CONSIDERABLE ATTEMPTED SPECULATOR SHORT COVERINGS TO LITTLE AVAIL//(MAYBE SOME SPEC SHORT ADDITIONS IF THEY ARE STUPID ENOUGH), ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR PHYSICAL ISSUANCE./. WE HAD MINOR LONG LIQUIDATION WITH CONTINUED ADDITIONS TO OUR BANKER LONGS!! THE COMEX WILL BLOW UP AS THE SPECS CANNOT DELIVER GOLD TO OUR BANKER LONGS. IT SEEMS THAT EVERYBODY WISHES TO BUY BUT NO SELLERS. SPREADER LIQUIDATION CONTINUED TODAY
WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR NOV. AT 12.386 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 300 OZ QUEUE JUMP //(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S WILL CONTINUE UNTIL MONTH’S END)
YET ALL OF..THIS HAPPENED WITH OUR LOSS IN PRICE OF $2.10 WITH RESPECT TO TUESDAY’S TRADING
WE HAD A SMALL SIZED LOSS OF 31 OI CONTRACTS (0.0964PAPER TONNES) ON OUR TWO EXCHANGES..
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2279 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 447,694
IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 31 CONTRACTS WITH 2348 CONTRACTS DECREASED AT THE COMEX (SHORT SPECULATORS FAILING TO GET OUT OF THEIR MESS) AND 2279 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 31 CONTRACTS OR 0.0964 TONNES.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2279 ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (2397 TOTAL LOSS IN THE TWO EXCHANGES 31 CONTRACTS. WE NO DOUBT HAD 1) CONSIDERABLE ATTEMPTED BUT FAILED SPECULATOR SHORT COVERINGS// CONTINUED GOOD BANKER ADDITIONS. WE HAD SOME SHORT SPEC ADDITIONS/// // CONSIDERABLE NEWBIE SPEC ADDITIONS ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR NOV. AT 12.386 TONNES FOLLOWED BY TODAY’S GOOD QUEUE JUMP OF 300 OZ //NEW STANDING 26.261 TONNES///3) ZERO LONG LIQUIDATION //// //.,4) HUGE SIZED COMEX OPEN INTEREST LOSS 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/SPREADER LIQUIDATION COMMENCED
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2022 INCLUDING TODAY
NOV
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV. :
68,987 CONTRACTS OR 6,898,700OZ OR 214.57 TONNES 16 TRADING DAY(S) AND THUS AVERAGING: 3832 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAY(S) IN TONNES:214.57 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2021, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 214.57//3550 x 100% TONNES 6.04% OF GLOBAL ANNUAL PRODUCTION
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 FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 207.49TONNES//INITIAL ( SO FAR MUCH LARGER THAN PREVIOUS MONTHS)
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 NOV. WE ARE NOW INTO THE SPREADING OPERATION OF BOTH SILVER AND GOLD (WILL BE SMALL AS SPREADERS DO NOT PAY ATTENTION TO NOVEMBER)
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF OCT HEADING TOWARDS THE NON ACTIVE DELIVERY MONTH OF NOV., FOR BOTH GOLD AND 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 (NOV), 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 STRONG SIZED 709 CONTRACTS OI TO 128,198 AND FURTHER FROM OUR COMEX HIGH 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 350 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 200 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 350 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 709 CONTRACTS AND ADD TO THE 350 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A VERY SMALL SIZED LOSS OF 359 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES.
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES 1.795MILLION OZ//
OCCURRED WITH OUR LOSS IN PRICE OF $0.00….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!
4. Chris Powell of GATA provides to us very important physical commentaries
end
5. Other gold/silver commentaries
6. Commodity commentaries//
7/CRYPTOCURRENCIES/BITCOIN ETC
3. ASIAN AFFAIRS
i)MONDAY MORNING//SUNDAY NIGHT
SHANGHAI CLOSED DOWN 18,19 PTS OR 0.58% //Hang Sang CLOSED DOWN 53,12 OR 0.29% /The Nikkei closed DOWN 30.80 OR 0.11% //Australia’s all ordinaries CLOSED UP 0.21% /Chinese yuan (ONSHORE) closed DOWN TO 7.1151//OFFSHORE CHINESE YUAN DOWN 7.1257// /Oil DOWN TO 82.31 dollars per barrel for WTI and BRENT AT 95.14 / Stocks in Europe OPENED ALL GREEN. ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
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//COVID ISSUES/VACCINE 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 FELL BY A FAIR SIZED 2348 CONTRACTS TO 487,694 AND FURTHER FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS COMEX DECREASE OCCURRED WITH OUR TINY FALL IN PRICE OF $2.10 IN GOLD PRICING WEDNESDAY’S COMEX TRADING. WE ALSO HAD A FAIR SIZED EFP (2279 CONTRACTS). . THEY WERE PAID HANDSOMELY NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH. IT SEEMS THAT SPEC SHORTS ARE STILL HAVING TROUBLE COVERING THEIR HUGE SHORTFALL.
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 NOV.. THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 2297 EFP CONTRACTS WERE ISSUED: ;: , . 0 DEC : 2297& ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2297 CONTRACTS
WHEN WE HAVE BACKWARDATION, EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED TOTAL OF 31 CONTRACTS IN THAT 2297 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED COMEX OI LOSS OF 2348 CONTRACTS..AND THIS FAIR SIZED LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR FALL IN PRICE OF GOLD $2.10/WE ARE WITNESSING SOME SPEC SHORTS COVERING THEIR SHORTFALL. BANKERS CONTINUE AS NET BUYERS OF COMEX GOLD CONTRACTS AS THEY HAVE BEEN NET LONG FOR THE PAST FEW MONTHS. WE ALSO HAD SOME ADDITIONAL NEWBIE SPECS GOING LONG WITH THE LOWER PRICE. IT LOOKS LIKE OUR SPEC SHORTS ARE IN DEEP TROUBLE
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING NOV (26.289 TONNES),
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 YEAR 2021 (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//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 26.289 TONNES/INITIAL (TOTAL SO FAR THIS YEAR 564.435 TONNES)
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE //// (IT FELL $2.10) BUT WERE SUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE HAD A VERY MINOR GAIN OF 982 CONTRACTS ON OUR TWO EXCHANGES. WE HAD SOME SPEC SHORT ADDITIONS AND CONSIDERABLE SPEC SHORT COVERINGS.. WE HAD A SMALL SIZED GAIN ON OUR TWO EXCHANGES OF 982 CONTRACTS.// WE HAVE GAINED A TOTAL OI OF 3.015 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR GOLD TONNAGE STANDING FOR NOV. (26.289 TONNES)…THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE OF $2.10. WE WITNESSED SPREADER LIQUIDATION TODAY
WE HAD -551 CONTRACTS COMEX TRADES REMOVED. THESE WERE REMOVED AFTER TRADING ENDED LAST NIGHT
NET GAIN ON THE TWO EXCHANGES 31 CONTRACTS OR 3100 OZ OR 0.0964 TONNES
Estimated gold volume 110,230// awful//
final gold volumes/yesterday 282,121/ fair to good
INITIAL STANDINGS FOR NOVEMBER 2022 COMEX GOLD //NOV 25
Total monthly oz gold served (contracts) so far this month
8443 notices 844,00 26.2612 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
xxx oz
total dealer deposit 0
total dealer deposit: nil oz
No dealer withdrawals
Customer deposits: 0
I
total deposits nil oz
customer withdrawals:3
i) Out of HSBC: 1,871.875 oz
ii) Out of Brinks: 8064.762 oz
iii) ouf of JPMorgan: 7169.565 oz
total: 17,106.202 oz
total in tonnes: 0.532onnes
Adjustments: 0//
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOVEMBER.
For the front month of NOVEMBER we have an oi of 1827 contracts having LOST 6 contracts. We had 9 notices served on WEDNESDAY so we gained a SMALL 3 CONTRACTS or an additional 300 OZ (0.009 TONNES) will stand in this non active month of November. We will have Nov gold tonnage standing increase daily from this day forth until the end of the month.
This queue jumping originates in London with the exercising of London based EFP’s for comex gold.
December LOST A CONSIDERABLE 26,416 contracts DOWN to 78,050 DEC WILL BE A DILLY OF A DELIVERY MONTH.
JANUARY GAINED 331 contracts to stand at 1049
February gained 21,340 contacts up to 314,300
We had 1823 notice(s) filed today for 182,300 oz
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 9823 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1823 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 NOV. /2022. contract month,
we take the total number of notices filed so far for the month (8443) x 100 oz , to which we add the difference between the open interest for the front month of (NOV 1823 CONTRACTS) minus the number of notices served upon today 1823 x 100 oz per contract equals 845200 OZ OR 26.273 TONNES the number of TONNES standing in this non active month of NOV.
thus the INITIAL standings for gold for the NOV. contract month:
No of notices filed so far (6628x 100 oz+ (1833 OI for the front month minus the number of notices served upon today (1823} x 100 oz} which equals 845,200 oz standing OR 26.273 TONNES in this NON active delivery month of NOV..
TOTAL COMEX GOLD STANDING: 26.273 TONNES (A HUMONGOUS STANDING//NEW RECORD FOR NOV (GENERALLY THE POOREST DELIVERY MONTHS FOR A NON ACTIVE MONTH)
To calculate the number of silver ounces that will stand for delivery in NOV. we take the total number of notices filed for the month so far at 682 x 5,000 oz = 3,410,000 oz
to which we add the difference between the open interest for the front month of NOV( 167) and the number of notices served upon today 76x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the NOV../2022 contract month: 682 (notices served so far) x 5000 oz + OI for front month of NOV (167) – number of notices served upon today (76)x 50070 oz of silver standing for the NOV. contract month equates 3,965,000 oz.
We will gain in silver oz standing from this day forth until the end of the month.
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
NOV 14/WITH GOLD UP $7.30: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 910.12 TONNES
NOV 11/WITH GOLD UP $15.25//BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.19 TONNES INTO THE GLD////INVENTORY RESTS AT 911.57 TONNES
NOV 10/WITH GOLD UP $40.75: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 908.38 TONNES
NOV 9/WITH GOLD DOWN $2.00: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.89 TONNES INTO THE GLD////INVENTORY RESTS AT 908.38 TONNES
NOV 8/WITH GOLD UP $34.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.47 TONNES FROM THE GLD//: INVENTORY RESTS AT 905.49 TONNES
NOV 7/WITH GOLD UP $2.95: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.63 TONNES FROM THE GLD//INVENTORY RESTS AT 906.96. TONNES
NOV 4/WITH GOLD UP $44.45 TO $1673.30: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.48 TONNES FROMTHE GLD////INVENTORY RESTS AT 911.59 TONNES.
NOV 3/WITH GOLD DOWN $18.30 TO $1628.85: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.05 TONNES FROM THE GLD////INVENTORY RESTS AT 915.07 TONNES
NOV 2/WITH GOLD UP 55 CENTS TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 919.12 TONNES.
NOV 1/WITH GOLD UP $9.20 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES FORM THE GLD../INVENTORY RESTS AT 920.57 TONNES
OCT 31/WITH GOLD DOWN $4.00; BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.61 TONNES FROM THE GLD//INVENTORY RESTS AT 922.59. TONNES//
OCT28/WITH GOLD DOWN $19.70 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.19 TONNES FROM THE GLD..///INVENTORY RESTS AT 925.20 TONNES
OCT 27/WITH GOLD DOWN $3.80: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES
OCT 26/WITH GOLD UP $11.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 928.39 TONNES
OCT 25/WITH GOLD UP $3.85: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .29 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 928.39 TONNES
OCT 24/WITH GOLD DOWN $1.80 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.89 TONNES FROM THE GLD////INVENTORY RESTS AT 928.10 TONNES
OCT 21/WITH GOLD UP $19.10: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES FROM THE GLD///INVENTORY RESTS AT 930.99 TONNES
OCT 20/WITH GOLD UP $2.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.08 TONNES FROM THE GLD///INVENTORY RESTS AT 932.73 TONNES
OCT 19/WITH GOLD DOWN $20.65:: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .29 TONNES FROM THE GLD////INVENTORY RESTS AT 938.81 TONNES
OCT 18/WITH GOLD DOWN $7.40: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES FROM THE GLD////INVENTORY RESTS AT 939.10 TONNES
OCT 17/WITH GOLD UP $14.55: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.28 TONNES FROM THE GLD///INVENTORY RESTS AT 941.13 TONNES
OCT 14/WITH GOLD DOWN $26.50 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES FROM THE GLD///INVENTORY RESTS AT 944.31 TONNES
OCT 13/WITH GOLD DOWN $0.40 TODAY: A DEPOSIT OF 1.16 TONNES INTO THE GLD// CHANGE IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 945.47 TONNES
OCT 12/WITH GOLD UP $4.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 944.31 TONNES
OCT 11/WITH GOLD UP $10.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 944.31 TONNES
OCT 10//WITH GOLD DOWN $33.50 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.03 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 944.31 TONNES
OCT 7/WITH GOLD DOWN $10.70: NO CHANGES IN GOLD INVENTORY AT THE GLD///INVENTORY RESTS AT 946.34 TONNES
OCT 6/WITH GOLD UP $.70 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.45 TONNES INTO THE GLD//INVENTORY RESTS AT 946.34 TONNES
OCT 4/WITH GOLD UP $28.65 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.19 TONNES INTO THE GLD//INVENTORY RESTS AT 942.89 TONNES
OCT 3.WITH GOLD UP $29.30 TODAY: BIG CHANGES IN GOLD INVENTORY AT THE GLD AND A BIG SURPRISE: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD////INVENTORY RESTS AT 939.70 TONNES
GLD INVENTORY: 910.12 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
NOV 19
NOV 14/WITH SILVER UP 41 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 471.923 MILLION OZ//
NOV 11/WITH SILVER DOWN 2 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 553,000 OZ FROM THE SLV///INVENTORY RESTS AT 471.923 MILLION OZ//
NOV 10/WITH SILVER UP 39 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV; A DEPOSIT OF 368,000 OZ INTO THE SLV///INVENTORY RESTS AT 472.476 MILLION OZ//
NOV 9/WITH SILVER DOWN 10 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV/; A WITHDRAWAL OF 3.821 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 472.108 MILLION OZ//
NOV 8/WITH SILVER UP 48 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.751 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 475.929 MILLION OZ//
NOV 7/WITH SILVER UP 12 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//
NOV 4/WITH SILVER UP $1.31 TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 4.972 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 477.678 MILLION OZ//
NOV 3.WITH SILVER DOWN 16 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 566,000 OZ FROM THE SLV////INVENTORY RESTS AT 482.650 MILLION OZ//
NOV 2/WITH SILVER DOWN 9 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 92,000 OZ FROM THE SLV////INVENTORY RESTS AT 483.216 MILLION OZ//
NOV 1/WITH SILVER UP 53 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 415,000 OZ FORM THE SLV////INVENTORY RESTS AT 483.308 MILLION OZ
OCT 31: WITH SILVER FLAT: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .644 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 483.723 MILLION OZ//
OCT 28/WITH SILVER DOWN 35 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 276,000 OZ INTO THE SLV////INVENTORY RESTS AT 484.367 MILLION OZ//
OCT 27/WITH SILVER UP 3 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE S: A WITHDRAWAL OF 2.579 MILLION OZ FROMTHE SLV/////INVENTORY RESTS AT 484.091 MILLION OZ//
OCT 26/WITH SILVER UP 11 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.013 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 486.670 MILLION OZ./.
OCT 25/WITH SILVER UP 17 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.083 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 487.683 MILLION OZ/
OCT 24/WITH SILVER UP 6 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .553 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 485.610 MILLION OZ//
OCT 21/WITH SILVER UP 43 CENTS: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF .46 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 486.163MILLION OZ//
OCT 20/WITH SILVER UP 33 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .921 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 485.703 MILLION OZ//
OCT 19/WITH SILVER DOWN 27 CENTS: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.105 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 486.624 MILLION OZ///
OCT 18/WITH SILVER DOWN 5 CENTS:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.658 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 487.729 MILLION OZ///
OCT 17/WITH SILVER UP 53 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.151 MILLION OZ INTO THE SLV////INVENTORY REST AT 486.071 MILLION OZ//
OCT 14/WITH SILVER DOWN 77 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.211 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 484.920 MILLION OZ//
OCT 13/WITH SILVER DOWN 2 CENTS TODAY: BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 4.513 MILLION OZ INTO THE SLV//INVENTORY RESTS AT 482.709 MILLION OZ//
Oct 12/WITH SILVER DOWN 18 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 478.196 MILLION OZ
OCT 11/WITH SILVER DOWN 11 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.066 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 478.196 MILLION OZ
OCT 10//WITH SILVER DOWN 65 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 473.130 MILLION OZ/
OCT 7/WITH SILVER DOWN 37 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.447 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 473.130 MILLION OZ/
OCT 6/WITH SILVER UP 11 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY: A WITHDRAWAL OF 5.3 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 475.617 MILLION OZ//
OCT 4WITH SILVER UP $.51 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 480.917 MILLION OZ
OCT 3/WITH SILVER UP $1.46 : NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 480.917 MILLION OZ//
CLOSING INVENTORY 471.923 MILLION OZ//
PHYSICAL GOLD/SILVER STORIES
1:Peter Schiff .
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2 Lawrie Williams//Pam and Russ Martens/Jim Rickards/Mathew Piepenburg/Von Greyerz//Rickards:
As the latest headlines from the FTX implosion remind us yet again of a politicized and rigged market riddled with deception, gold’s climb becomes easier to foresee.
But first, a little philosophical musing…
Modern Policy: High Office, Low Wisdom
I have often referred to La Rochefoucauld’s maxim asserting the highest offices are rarely, if ever, held by the highest minds.
Nowhere has this been more apparent than among the halls of the physically impressive yet intellectually vacant Eccles Building on Constitution Ave in Washington DC, where a long string of Fed Chairs have been un-constitutionally distorting free market price discovery for over a century.
The media-ignored levels of open fraud and inflationary currency debasement which passes daily for monetary policy (namely monetizing trillions of sovereign debt with trillions of mouse-clicked Dollars) within the FOMC would be comical if not otherwise so tragic in its crippling ripple effect to the Main Street citizen.
Pondering the Philosophically Nobel Amidst the Administratively Dishonest
To any who have pondered the philosophical pathways (as well as elusive definition) of wisdom (from the ancient Greeks to the pre- and post-modern Europeans, romantic Emersonians, tortured Russians or enlightened Confucians), one common trait of wisdom through time, culture and language is the ability to admit, and then learn from, error–as any man’s journey is one riddled with countless opportunities for teachable error.
Yet when it comes to public mea-culpas and the grand teaching moments of “I was wrong,” it seems our central and commercial bankers have failed miserably.
Infallible Bankers or Exceptional Finger Pointers?
Not only have bank leaders taken little to no responsibility for (or contrition of) their many financial, political and moral sins (think billion-dollar bailouts, a 0 in 10 record for recession forecasting or the creation of the greatest and levered asset bubble and wealth transfer in history), they have a remarkable talent for blaming anyone (Putin et al) or anything (COVID or coal) but themselves or the derivative toxins and unpayable debt piles they alone created…
In summary, it seems we are living in era of great change, great turmoil and great risk, yet also one of very little accountability, transparency and hence: wisdom.
Sustained Levels of Mediocrity
Instead, from DC to Wall Street, Tokyo to Brussels, Canada to Australia, and Brainard to Draghi, the world is increasingly led by figures (left, right and center) who are capable, at best, of little more than a sustained level of mediocrity and an over-paid repertoire of canned phrases and prompt-read platitudes rather than actual, economic savvy, candor or personal wisdom.
Such high-office mediocrity and lack of wisdom, of course, spills well beyond the centers of political power and office; in fact, it thrives with equal force in the private sector and public markets, as any who have tracked and pre and post Enron world will and do know…
Modern Dystopia: High Tech, Low Wisdom
As to more recent scandals and headlines related to the staggering blowout at FTX, enough has already been written/said of its impressive mix of fraud, leverage and corrupt (paid-for) politics for me to add more mathematical detail here.
Unfortunately, FTX’s scandalous scheming with investor money (ala Madoff) and bank leverage (ala Bear Sterns) is nothing new.
The broader sins of fractional reserve banking, historical debt levels and trillions in mouse-click monetary policies have effectively murdered honest capitalism within a rigged-to-fail financial system whose destructive consequences far outpace the FTX headlines of late.
I am thinking of 1) the leverage-poisoned MERK, compliments of Leo Melamed and Alan Greenspan in the 80’s, 2) a completely fixed paper gold pricing exchange, 3) the post Glass-Steagall (nod to Larry Summers) banking era which turned depositor accounts into levered ammunition for banks speculating like hedge-funds or 4) the open fraud (legalized counterfeiting) which daily passes for monetary policy at a central bank near you.
As Henry Ford warned, if more folks actually understood banking practices and the false idols hiding behind expert masks, the net result would be chaos.
Patterns of Fake Genuis
As for the recent chaos in the C-suites of our tech leadership, an equally clear, and all too familiar pattern of under-30 millionaire/billionaires (from WeWork’s Adam Newman to Facebook’s Mark Zuckerberg or FTX’s Sam Bankman-Fried) is the now obvious as well as inverse correlation between so-called “technological genius” and basic human wisdom.
In short, we would be right to ask if our modern technological progress and high-office prestige has far outpaced our human wisdom.
All Piano, No Music
As Antoine de St. Exupery warned (as far back as 1944), the world is capable of producing 1000 pianos per hour but unable to produce enough worthy pianists to play them.
In short, the speed of our so-called “progress” (from computer chips, social media, Fauci-science and digital money to de-regulated margin accounts) seems to have tragically outpaced the philosophical measure of our wisdom.
Despite some wonderful exceptions from Wall St to Pal Aalto, many of our best and brightest are driven by the timeless and “human all too human” impulses of greed, FOMO, and telegraphed/photographed virtue-signaling rather anonymous good work or honest commerce.
Sam Bankman-Fried (SBF), for example, was a master at appearing like a Robin Hood despite having the instincts of a robber baron.
Self-Service Masquerading as Virtue Signaling
The end result is a literal “selfie culture” which, fractured by identity politics, victim narratives and resentment on the fly, has morphed into a priority of the “I” over the good of (or genuine concern for) the many.
This trend is equally true of our public and private markets.
Moral, legal and economic laws have become more and more, shall we say… “elastic” as the sins and consequences (from currency debasement to anti-trust/monopolies and cancerous debt levels) of one generation are happily billed to the next.
Such patterns of ignored decencies/rules in which a Madoff sits comically on the NASDAQ board or an SBF ironically teaches a paid-for Congress about crypto safety, are common.
Equally disconcerting is a celebrity-mad population who trusts its mandate science to Spike Lee or its crypto advice from Matt Damon. If one is financially “successful” it is assumed he is wise; that is a dangerous assumption…
Meanwhile, headline spin and financial lobbying has replaced the ideal of genuine capitalism with a kind of neo feudalism in which figures like Bezos (with easier access to capital after years of violating anti-trust principles and CEO-to-employee salary ratios) have become part of a new aristocracy rather than exemplars of democratic meritocracy or fair-priced capitalism.
Back to the Markets: What FTX Portends
Given the foregoing cynicism/realism emanating from our modern markets, there is still much we can glean about the direction of, and risks to, our current markets.
For example, it will come as no surprise that the FTX fiasco has already been spun into a positive rather than negative narrative for the BTC camp.
As to cryptos in general and BTC in particular, I have already written and spoken at length of my views.
Toward this end, and to the understandable chagrin of the crypto camp, I (rightly or wrongly) view BTC more as a speculative growth/tech stock than as a viable alternative currency or long-term store of value.
Nothing about the recent FTX blowup has altered this view.
Again (and I could very easily be wrong), I don’t see BTC as money, a view which seems to be shared by a large number of emerging markets and central banks who are loading up on record amounts of physical gold rather than invisible cryptos.
Just saying…
And to re-heat a tired yet accurate quote by JP Morgan, I (we) still fully embrace the “barbarous” notion that gold is money, the rest is credit/debt.
BTC As Market Indicator
Regardless, however, of one’s views, biases or take on cryptos, Bitcoin’s pricing still has immense relevance to modern markets, including gold markets.
In terms of US stocks, for example, BTC has been an exceptional leading liquidity metric outside of the derivatives markets or Fed-manipulated bond markets.
In other words, stock, bond and even property markets tend to behave and move a lot like BTC behaved just a short period before.
In short, and regardless of one’s pro or con take on BTC, as an asset class and market indicator, this “coin” still clearly matters.
BTC: Local to Systemic Sickness?
And perhaps more to the point: As a tanking asset class with trillions in losses, BTC, like any bleeding asset in a grotesquely over-levered system, really matters.
Why?
Because BTC’s local sickness can easily become systemic.
The risk of this systemic spread, for example, will increase if there are less and less “dip buyers” for BTC, especially when inflation factors should otherwise favor the asset.
The potential for such a low-bid trend for BTC (based on FTX-like fears of broken exchanges and hence broken TRUST) could easily and accurately portend a low-bid contagion effect in the broader equity markets in general and the already bleeding tech sector in particular.
That said, an increasingly cynical as well inflation-ravaged generation of jaded outsiders are feeling increasingly cornered, which means they have less and less to lose.
This desperation may lead to more distrust in the system and hence more buying of BTC as a modern 9and fully understandable) middle-finger to that system.
For now, let’s wait and see what the post-FTX trend will be for BTC; I personally foresee an eventual (though not immediate) rip in its price.
The Bond Market Matters
Equally, if not more importantly, the current and declining liquidity canary in the BTC coalmine, as stated above, has been a leading indicator for equal liquidity risks (and hence declining behavior) in the bond and property sectors as well.
With US debt to GDP levels above the precarious 120% level and US deficits spiking, Uncle Sam is going to need to need to find liquidity somewhere to cover its bond obligations.
One can not emphasize enough how much this bond market matters.
Hawk to Dove—A Brewing & Golden Tailwind
And as I’ve been arguing ever since Powell went Hawkish, it is my conviction that such liquidity will ultimately (and only) be found when that hawk becomes a doveand the Fed reverts to the desperate mean of relying (tragically/addictively) on the only consistent income source it has, namely: A mouse clicker at the Eccles Building.
Such mouse-clicked “magical money,” of course, has immediate as well as immense inflationary and currency (USD) ramifications, which means the pivot will have immediate as well as immense ramifications on the price of gold in USD.
Expanding Deficits: More Tailwinds for Gold
Equally bullish for gold yet equally tragic for the US are the recent (and doubling) deficit forecasts coming out of DC.
That is, the US Treasury has already announced its borrowing amounts for the next 6 months ($1.3T), which is an indirect way of revealing a federal deficit doubling (on an annualized basis) for the same period.
For me, the implications of such added debt levels are mathematicalrather than just cynical or political.
That is, Uncle Sam simply can’t afford to pay ever-increasing debt piles of this embarrassing magnitude unless interest rates are decidedly negative rather than painfully positive.
Stated even more plainly, all debtors love (and hence eventually engineer) inflation rates to be higher than interest rates.
And since Uncle Sam (and the Fed) are not only powerfully distorted, but powerfully in control, one can easily predict what any all-powerful but debt-cornered policy hack would and will do as we stumble into 2023, namely: Seek more inflation and lower rates while simultaneously under-reporting inflation by at least 50%.
How’s that for trust building, wisdom and central bank accountability?
In the end, as wisdom dies from above, and hence trust rots from within as inflation rises and real rates go increasingly negative, Gold will do what it always does in such man-made settings—namely surge north as the USD, now artificially supported by rising rates, sinks dramatically south once those rates go dovishly in the same direction.
Defaulting Bonds, Tanking Treasuries, Rising Gold
Of course, as soon as the market collectively realizes that negative yielding bonds (the historical instrument of all debt-soaked and hence failing regimes) are effectively defaulting bonds, investor interest in US Treasuries will fall while interest in gold will rise, as is already the case:
Cynics, of course, might say that $260B in gold is a trifle amount compared to other asset classes.
Fair point.
Gold: Repressed Today, Fairly Priced Tomorrow
But here’s the rub: The central banks are (and have been) intentionally suppressing paper gold in order to take more physical delivery today before they inevitably reprice gold higher tomorrow to recapitalize their horrific balance sheets.
This trend is easy to see simply because the rigged game played by the broken actors described above is as easy to predict as their lack of wisdom is easy to measure.
As Egon and I have often remarked, the central banks are unwittingly gold’s best friend, for the bankers’ lack of wisdom and abundance of self-interest in otherwise desperate times makes them easy to track.
Or stated more simply: As the system gets more corrupt (as it always does when backed against a debt wall and a moral vacuum), gold gets more loyal.
3. Chris Powell of GATA provides to us very important physical commentaries//
To be honest, it’s kind of hard to try and entertain the innuendo and rumors that Democrats and the media are working to do damage control on behalf of Sam Bankman-Fried, the founder of now-bankrupt crypto exchange FTX, because the idea is just so reprehensible.
But they sure do keep giving us ammunition to make that suggestion, don’t they?
Bankman-Fried and House Financial Services Committee Chair Maxine Waters
Bankman-Fried – the second biggest donor to Democrats behind George Soros – has all but admitted that he squandered billions of dollars of other people’s money carelessly, writing “I fucked up” on Twitter in a mea culpa about two weeks ago, days after a run on his exchange exposed it to be a shell of what many perceived it to be.
Institutional investors in FTX have written their stakes in the firm to $0.
The $5 billion bank-run on FTX that started it all has many everyday crypto investors worried that their “investments” with FTX are total losses. For many, it was their life savings.
Since then, Bankman-Fried’s former company continues to be at the center of extremely shady circumstances. It has seen a “substantial amount” of its assets go missing in the days after its blowup.
The lawyer hired to oversee the liquidation of FTX, who also was in charge of the same task for Enron, has said “he’s never seen a company in worse shape than FTX.”
“I have over 40 years of legal and restructuring experience. I have been the chief restructuring officer or chief executive officer in several of the largest corporate failures in history. . . . Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
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To add insult to injury, Bankman-Fried has also admitted that his entire persona of being an altruist was a ruse, calling it a “dumb game we woke westerners play.”
Now widely accepted by the public and most in the financial industry to have committed a massive $30 billion fraud that has spawned innumerable comparisons to Madoff and Enron, it’s unclear to me what more of an admission of guilt is needed to extradite Bankman-Fried to the United States and place him under arrest.
I know I’m not the only one who can hear the drumbeat of potentially covering up for Bankman-Fried beating a little louder with every day that goes by and he isn’t shown being paraded off somewhere in handcuffs.
Instead, the only photo I have seen of Bankman-Fried since his firm’s blowup has been one of him meandering around a grocery store in the Bahamas.
For historical reference, Bernie Madoff was arrested on December 11, 2008.
On December 11, 2008, financier Bernard Madoff is arrested at his New York City apartment and charged with masterminding a long-running Ponzi scheme later estimated to involve around $65 billion, making it one of the biggest investment frauds in Wall Street history.
His arrest came two daysafter he admitted to his brother that he was running a fraud.
“On December 3, he told longtime assistant Frank DiPascali, who had overseen the fraudulent advisory business, that he was finished. On December 9, he told his brother Peter about the fraud.”
Between the beginning of December and his arrest on the 11th, he also confessed to his sons, who “turned him in”.
This means, at the maximum, it was 11 days between Madoff being “turned in” and being arrested.
For reference, FTX collapsed around November 8, 2022 and Binance turned down the company’s bailout on November 9, 2022. Bankman-Fried admitted to “fucking up” on November 10, 2022 and FTX filed for bankruptcy on November 11, 2022, which means it has already been 11 days since the bankruptcy filing – and nearly 2 weeks since the firm’s collapse.
In the interim, instead of Bankman-Fried being brought to justice in the United States, we find out that “members of the House are requesting testimonies from Bankman-Fried, top executives from FTX and Alameda at a hearing in December.”
“The fall of FTX has posed tremendous harm to over one million users, many of whom were everyday people who invested their hard-earned savings into the FTX cryptocurrency exchange, only to watch it all disappear within a matter of seconds.
Unfortunately, this event is just one out of many examples of cryptocurrency platforms that have collapsed just this past year. That’s why it is with great urgency that I, along with my colleague ranking member McHenry, announce the Committee’s intention to hold a hearing to investigate the collapse of FTX.”
Rep. Maxine Waters
Not at a criminal court – at a congressional hearing. Not anytime soon – in December.
In the interim, we are being treated to a cushy response from the media, who has hailed Bankman-Fried as anything other than a criminal. The New York Times wrote a widely criticized puff piece on Bankman-Fried 3 days after FTX filed for bankruptcy.
The Washington Post’s take was that he was a pandemic fighter:
For a party that seems to absolutely loathe billionaires, Democrats and their friends in the media sure are taking it soft on Bankman-Fried.
Key democrats also took it soft on Theranos founder and former billionaire Elizabeth Holmes. After she drove an $8 billion fraud into the ground and was found guilty in a court of law, Democrat Cory Booker even wrote a letter pleading for a light sentence for her. Try to keep your lunch down while reading this:
Now, what do these two frauds have in common?
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Sequoia’s FTX Mea Culpa Tour Continues
THURSDAY, NOV 24, 2022 – 04:00 AM
The mea culpa tour for Sequoia Capital, who lost $150 million in the FTX blowup, continues.
The venture capital firm reportedly apologized to its fund investors yet again last Thursday in a conference call, vowing “to improve its due diligence process for future investments”, Bloomberg wrote this week, citing people familiar with the matter.
Bloomberg called it a “rare moment of contrition for Sequoia”, who has had a successful track record investing in companies like Apple, Google and Airbnb.
And what a surprise: the firm said that now, post-FTX blowup, it “would be able to push harder to have even early stage startups’ financial statements audited by one of the Big Four accounting firms”, Bloomberg wrote.
If only someone had thought about due diligence before FTX blew up…
Regardless, recall that back on November 10, we reported Sequoia had written down the entire value of its stake in FTX, a little over $210 million.
“We are in the business of taking risk,” Sequoia wrote in a message to investors seen by Bloomberg. “Some investments will surprise to the upside, and some will surprise to the downside.”
For a larger list of investors that lost money in FTX, consult our November 10, 2022 writeup here.
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Outragious
Howls Of Outrage After New York Times Confirms SBF To Speak Alongside Zelenskyy, Yellen
WEDNESDAY, NOV 23, 2022 – 11:22 PM
As we discussed last night, Sam Bankman-Fried has now demonstrated that he is both a pathological liar and a sociopath, the kind who in “explaining” to his employees how he stole billions (over $4 billion according to new FTX CEO John J. Ray) from the now bankrupt FTX, an act which left it insolvent and without liquidity, called it “loans” which were “generally” not used for “large amounts of personal consumption” (just “small amounts” used for such trivial items as $40 million penthouses and private jets).
And the only reason we don’t officially call him a criminal just yet, is because he has not yet confirmed he used client money from his exchange to fund his personal hedge fund, an act which would cost any other individual decades in jail… but not prominent democrats like SBF or Jon Corzine, of course. Plus it’s the US legal system’s job to do that, not ours. Although we are growing increasingly skeptical this prominent Democratic donor will ever see the inside of a courtroom.
It’s not just us: with much of the entire world demanding to know how this corpulent 30-year-old still has not been thrown in prison, or at least charged with a variety of crimes, the NYT just confirmed to the entire world what a farce the one-time paper of record has become, and how it is willing to whore itself out for clicks – not to mention prominent Democrat donors – because moments after SBF tweeted that he will be speaking with Andrew Ross-Sorkin moderated NYT “summit” on Nov 30…
And so, instead of being under arrest, SBF will instead be treated like a luminary alongside other such other Democrat icons as Zelenskyy (who according to some may have been intimately familiar with FTX fund flows in the past year) and of course the woman who along with Ben Bernanke and Jerome Powell, made it all possible by blowing the biggest asset bubble of all time: Janet Yellen.
And while we are certain that the NYT – which we assume is done writing puff pieces on behalf of SBF after it became a laughing stock last week – would be quick to mercilessly cancel and expel from its “prestigious” conference anyone who had misgendered some post-op transsexual, it is willing to give this thieving pathological liar and sociopath a forum in which to profess his innocence to the entire world, and by association with other Democrat “celebrities” such as this one…
… to boost his standing within a legal system that is clearly as much as joke as the venue that he will be sharing with the following individuals:
Here are all the other “top business and policy leaders” at the NYT whitewashing summit:
Eric Adams, New York City mayor
Ben Affleck, Artists Equity C.E.O.
Sam Bankman-Fried, FTX founder
Gerry Cardinale, RedBird Capital Partners founder, managing partner and C.I.O.
Shou Chew, TikTok C.E.O.
Larry Fink, BlackRock chairman and C.E.O.
Reed Hastings, Netflix founder and co-C.E.O.
Andy Jassy, Amazon president and C.E.O.
Van Jones, CNN host, author and Dream.Org founder
Scarlett Lewis, Jesse Lewis Choose Love Movement founder and mother of Sandy Hook shooting victim, Jesse
Mike Pence, 48th vice president of the United States and author of “So Help Me God”
Benjamin Netanyahu, former Prime Minister of Israel, current leader of the Likud party
Priscilla Sims Brown, Amalgamated Bank president and C.E.O.
Secretary Janet L. Yellen, U.S. Department of the Treasury
President Volodymyr Zelensky of Ukraine
Mark Zuckerberg, Meta founder, chairman and C.E.O.
The shocked, stunned and simply disgusted reactions are still coming in:
I’ll be speaking with @SBF_FTX at the @dealbook summit next Wednesday (11/30) by hiding in one of the bathroom stalls and surprising him while he’s using the urinal.
What questions should I ask him?— davis (@basedkarbon) November 23, 2022
How did this dude steal billions of dollars and is now speaking at a summit as a free man?
let’s hop on a spaces right now. Just me and you, 1 on 1.— Bitcoin Archive (@BTC_Archive) November 23, 2022
That CNBC, the NY Times and far-left extremist Andrew Sorkin would be protecting, apologizing for and promoting this guy is zero surprise. https://t.co/xhGh0gePV0— John Tuld (@BradHuston) November 23, 2022
FTX SBF is scheduled to speak at a @nytimes business summit with Andrew Sorkin, after defrauding clients billions of dollars. More proof that paid off politicians grant you amnesty.— TaraBull (@TaraBull808) November 23, 2022
My theory is that Andrew Sorkin is a sensible guy disgusted by the ruling class who tries to insult it by showing how bad it’s leading figures are. He’s surprised no one gets it but at least he makes a lot of money until that happens. https://t.co/ii9pGTz3R0— P.C. Outsider (@PhilOutsider) November 23, 2022
“So, what’s your favorite color lol”— litquidity (@litcapital) November 23, 2022
Damage control is in overdrive. We can’t be the only ones observing this? This is outrageous. https://t.co/OCTOMeOY3D— Autism Capital (@AutismCapital) November 23, 2022
“This can’t get any worse!”
Universe: “LOL, watch me!”— Helin ULKER (@beautyofhelin) November 23, 2022
The collapse of cryptocurrency exchange FTX, and the worldwide outcry over the billions of dollars wiped off the platform, are likely to trigger a massive regulatory reaction that would further erode citizens’ economic freedoms without addressing the issues that fostered demand for an alternative to the fiat dollar, economists have told The Epoch Times.
An international scandal has embroiled FTX and its founder, 30-year-old Sam Bankman-Fried, in the wake of the firm’s crash earlier this month precipitated by a run on the exchange. Since then, reports have emerged that Alameda Research, a crypto hedge fund established by Bankman-Fried, was trading billions of dollars from FTX accounts without clients’ knowledge.
FTX has filed for bankruptcy protection, Bankman-Fried has stepped down from his role as CEO, and John J. Ray III, the former CEO of Enron, has taken over the insolvent company with a plan to sell it off if a successful restructuring is impossible. An estimated 1 million customers and other investors are facing total losses of billions of dollars.
FTX, in a recent court filing, said it owes $3.1 billion to its top 50 creditors, and its collapse has rocked the $839 billion global crypto market. On Nov. 22, the trading value of bitcoin tumbled to $15,480, a two-year low, before edging up slightly to $15,909.
Ray has claimed that subsidiaries of FTX in the United States and abroad “have solvent balance sheets, responsible management and valuable franchises,” but so far the shock and alarm over the exchange’s implosion have shown no sign of abating.
Meanwhile, a number of big names in sports and entertainment, such as comedian Larry David, NBA star Stephen Curry, and quarterback Tom Brady, have become the subject of a probe by the Texas State Securities Board over their public endorsements of FTX. The celebrities have also become the targets of class action lawsuits filed by disgruntled investors, with more expected in the days to come.
Madoff’s Heirs
Observers of the FTX blowup are extremely candid about the severity of the exchange’s mismanagement and the recent historical analogs for its unraveling.
Wayne Davis, a partner at the law firm Tannenbaum Halpern Syracuse & Hirschtritt in New York, drew a parallel with one of the most notorious cases of fraud in the history of finance, that of the Bernard L. Madoff, whose Ponzi scheme bilked some 4,800 clients of $64.8 billion. In both cases, clients were insufficiently attentive to the lack of internal controls, he suggested.
“Madoff comes to mind. Perhaps not the same criminal intent components, but there are certainly similarities as far as investor/customer enthusiasm notwithstanding signs of lax compliance and risk management engagement,” Tannenbaum told The Epoch Times.
Other observers see parallels in earlier events in the development of banking and currencies. Charles Steele, chair of the department of economics, business, and accounting at Hillsdale College in Michigan, said that the blow-up of FTX reminds him of the first stock market bubble and financial crisis to afflict the world, namely the collapse of France’s Banque Royale in 1720.
“Scotsman John Law set up a central bank for the French monarchy that began paying enormous returns on its shares and its sister Mississippi Company. It was heralded as a great triumph of new financial technology, a nearly miraculous breakthrough, but in fact, it was effectively what we now call a Ponzi scheme,” Steele told The Epoch Times.
“In the case of FTX, it appears that Samuel Bankman-Fried was heralded as a crypto genius, but was simply engaged in a lot of shady business disguised as ‘philanthropy,’ using other people’s money. He was apparently the second-largest donor to the Democrat Party campaigns in the 2022 elections, and also was positioning himself to be a major player in the design of federal regulations for cryptocurrency,” Steele added.
The Likely Reaction
The magnitude of the FTX scandal—the amounts of money involved and the number of people suffering possibly permanent financial harm—means that its ramifications are likely to continue to affect all players in the crypto space in coming weeks and months, said Jeffrey Guernsey, a professor of economics at Cedarville University in Ohio. The very lack of a fixed value that made crypto investing exciting for some people may also be among its singular vulnerabilities in the face of emboldened regulators, he suggested.
“While this thought does not originate with me, it is clear that crypto is not a currency, if one attribute of a currency is a stable value. The collapse of FTX certainly puts the entire asset class under review and question and may lead to calls for governmental regulation,” Guernsey said.
Given the priorities of the Biden administration, the notably harsher tone of federal guidance and rulemaking since he took office, and officials’ well-documented hostility to financial innovation and decentralization, the reaction from regulators is likely to be extremely draconian and may even cross lines that the regulators have hitherto respected, observers say. But whether the coming crackdown will address concerns of fiat currency that helped feed demand for alternative exchanges, platforms, and markets is a different question.
“I expect that this debacle will lead to greatly increased federal regulation of cryptocurrencies,” Steele said.
In Steele’s view, the fiasco is likely to speed up the crafting and implementation of central bank digital currencies (CBDC). Steele noted that the Federal Reserve Bank of Boston is collaborating with the Massachusetts Institute of Technology on a joint study, Project Hamilton, whose objective is to devise a CBDC for the United States.
While ignored by many people, this is one of the most potentially concerning recent developments given the unprecedented powers that it stands to place in the hands of a central regulatory authority, he said. While some might initially welcome a CBDC, it could have unforeseen consequences and ultimately could help extend the role of government into people’s lives in ways to which they are so far unaccustomed.
“I think a CBDC is very dangerous, because it would enable a central bank or government to monitor, control, and record every exchange made with the currency. If, for example, a government decided it did not want citizens buying, say, firearms, or perhaps donating funds to a political candidate, the central bank could prevent the transaction. Alternatively, it could have a permanent record of a citizen’s purchases and use these to establish a social credit score for the person,” Steele said.
“In this way, a CBDC could become the ultimate tool of social engineering and tyranny. A true cryptocurrency keeps transactions anonymous, which is one of its great benefits. Governments tend to dislike tools that give citizens such privacy,” he added.
Legitimate Demand
The tragedy of the FTX scandal and the possible meltdown of other crypto entrepreneurs as more and more people panic and seek to redeem their assets is that such platforms arose partly in response to an understandable demand for alternatives to the fiat dollar, or a dollar whose value and use flow from government dictates and are unrelated to any external commodity or asset such as gold. The heavy-handed reaction expected in the coming months as a consequence of FTX’s blow-up is unlikely to take account of this truth.
That’s the view of Brian Domitrovic, a professor of economic history at Sam Houston State University, who sees negative long-term consequences to the country’s abandonment of the gold standard in 1971.
“I don’t think there’s any kind of broad popular support for a fiat dollar, a non-gold dollar. There hasn’t been since 1971. A lot of popular dissatisfaction with this has been very clearly expressed,” Domitrovic told The Epoch Times.
“The Federal Reserve is not a popular institution at all. I think there’s just a general sense on the part of the public that we should have something more like the classical monetary system that we used to have. And I think crypto has tapped into that more effectively than anything since the end of the gold standard,” he added.
The New Non-Fiat
From a certain standpoint, cryptocurrencies took over where gold left off following the shift away from the gold standard, Domitrovic said. Like gold, it is limited in supply and requires mining, though of course not the same kind of mining. In the case of the former commodity, the mining is a process of physical extraction of a substance from the earth, and in the latter, it is mathematical and theoretical in nature.
Despite the differences, both currencies have the effect of eroding centralized power and oversight by making institutions such as the Federal Reserve less integral to the functioning of the economy, Domitrovic said.
“Bitcoin aspires to mimic gold in many respects. This is what you had when money was not a creation of the Federal Reserve,” he added.
Much of today’s demand for bitcoin and kindred currencies flow from a widespread desire to go back to how things were before 1971, Domitrovic argued.
“Before 1971, the United States led the world in becoming the greatest economy ever, with hundreds of millions of people living at high levels of prosperity. There is a very strong reason why people associate the pre-1971 period with a magnificent achievement economically,” he added.
In this analysis, the federal government has sought to maintain centralized oversight over the economy and the level of prosperity attainable by citizens partly by not allowing crypto to compete with the fiat dollar.
“Even if there is fraud, I’m still going to lay a lot of the blame at the feet of the government and the official definition of policy, because they’re not taking crypto as seriously as they should. They consider it non-money,” he said.
Read more here…
ONSHORE YUAN: CLOSED DOWN 7.1151
OFFSHORE YUAN: 7.1257
SHANGHAI CLOSED DOWN 18.19 PTS OR 0.58%
HANG SANG CLOSED DOWN 53.12 OR 0.29%
2. Nikkei closed DOWN 30.80 PTS OR 0.11%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 106.36 Euro RISES TO 1.0382
3b Japan 10 YR bond yield: RISES TO. +.242!!!(Japan buying 100% of bond issuance)/Japanese yen vs usa cross now at 140.28/JAPANESE YEN COLLAPSING 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: UP-// OFF- SHORE: UP
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 DOWN TO +2.0755%***/Italian 10 Yr bond yield FALLS to 3.908%*** /SPAIN 10 YR BOND YIELD FALLS TO 3.084…** DANGEROUS//
3i Greek 10 year bond yield FALLS TO 4.312//
3j Gold at $1764.00//silver at: 21.23 7 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 19/100 roubles/dollar; ROUBLE AT 60.34//
3m oil into the 82 dollar handle for WTI and 945 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 139.99 DESTROYING JAPANESE CITIZENS WITH HIGHER FOOD INFLATION
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.9514–as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9867well 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: 3.810% UP 4 BASIS PTS…GETTING DANGEROUS
USA 30 YR BOND YIELD: 3.908% UP 2 BASIS PTS//
USA DOLLAR VS TURKISH LIRA: 18,62…
GREAT BRITAIN/10 YEAR YIELD: 3.2974%
end
Overnight: Newsquawk and Zero hedge:
FIRST, ZEROHEDGE (PRE USA OPENING// MORNING
end
AND NOW NEWSQUAWK (EUROPE/REPORT)
i)MONDAY MORNING// SUNDAY NIGHT
SHANGHAI CLOSED DOWN 18,19 PTS OR 0.58% //Hang Sang CLOSED DOWN 53,12 OR 0.29% /The Nikkei closed DOWN 30.80 OR 0.11% //Australia’s all ordinaries CLOSED UP 0.21% /Chinese yuan (ONSHORE) closed DOWN TO 7.1151//OFFSHORE CHINESE YUAN DOWN 7.1257// /Oil DOWN TO 82.31 dollars per barrel for WTI and BRENT AT 95.14 / Stocks in Europe OPENED ALL GREEN. ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
2 a./NORTH KOREA/ SOUTH KOREA/
///NORTH KOREA/SOUTH KOREA/
end
2B JAPAN
JAPAN
END
3c CHINA
CHINA/ECONOMY
Another big story; China’s economy in trouble as they cut reserve requirements by 25 basis points as well as provide a huge $70 billion equivalent in fresh liquidity.
(zero hedge)
China Cuts Reserve Requirement Ratio By 25bps, Boosts Economy With $70BN In Fresh Liquidity
FRIDAY, NOV 25, 2022 – 02:45 PM
Confirming recent rumors and media speculation, late on Fruday after the close of markets, China’s central bank announced it cut the amount of cash that banks must hold in reserve for the second time this year on Friday to shore up the coronavirus-hit economy, a move which analysts said is “not too late”, but also that Beijing needs to roll-out much more supportive policies to kick start to contracting economy.
The PBOC last cut the RRR in April when the central bank announced a 0.25% point reduction following 0.5% points cuts in both July and December last year. Friday’s announcement followed a State Council meeting on Tuesday chaired by Premier Li Keqiang, who said that it was a “critical time” to consolidate the economic recovery for the fourth quarter.
The PBOC said that the move was aimed at maintaining “reasonable and sufficient liquidity” to support the economy at a “reasonable” growth rate, while reiterating that it would not engage in “flood-like” stimulus.
“[The RRR cut will] increase the long-term stable funding sources of financial institutions, enhance the capital allocation capabilities of financial institutions, and support industries and small, medium and micro enterprises that have been severely affected by the epidemic,” the central bank added.
The widely telegraphed (and in some cases, mocked) decision, comes at a time when the world’s second-largest economy is on the verge of contraction and is facing a new round of coronavirus disruptions, with daily infections having already jumped to more than 31,000.
“The impact of the Covid-19 outbreaks is already quite damaging. The RRR cut is reasonable,” said Iris Pang, chief economist for Greater China at ING, quoted by SCMP. She added that the RRR cut was “not too late”, but that it needs to be accompanied by other less conventional monetary policy to boost its effectiveness, especially when it comes to tackling financing problems for small retailers and companies operating in the catering sector. Pang added that the PBOC could instruct banks to lend more, while the central bank could also increase loan to banks via relending programmes to boost funding to small- and medium-sized firms.
Others were more skeptical: efforts by the Chinese government to support the economy will be encouraging in the short-term for equities as it shifts “expectations in a positive direction,” even though the outlook is cloudy beyond that, said Peter Garnry, head of equity strategy at Saxo Bank.
Chinese central bank’s decision to reduce the reserve requirement ratio for most lenders by 25 basis points will have limited impact on the economy, because it will not be as easy as in the past with the Chinese economy in a “different place” structurally “The credit impulse does not have the same impact as before because the typical receiver — real estate — is dealing with financial stress.”
China’s economy has been under pressure since October as exports and retail sales fell amid weak business and consumer confidence. “Epidemic prevention is now the biggest constraint on the economy,” said Larry Hu, chief China economist at Macquarie Group. “But the RRR cut is better late than never. The move may now also encourage banks to lend to the real estate sector.”
The cut will also save around 5.6 billion yuan per year for banks in terms of their funding costs, the PBOC added. But Zhang Zhiwei, chief economist at Pinpoint Asset Management, said the size of the cut shows that China’s monetary policy has been constrained by the US Federal Reserve’s interest rate increases, which have weakened the yuan significantly since the start of the year.
“[The RRR cut] helps marginally, but the main problem for the economy is not the monetary policy,” Zhang said, adding that more action is needed to minimise the impact of China’s virus control measures.
China has eased its containment measures, including cutting quarantine requirements for international arrivals, but there is still no timetable for a complete exit from Beijing’s zero-Covid policy.
“The reduction in the required reserve ratio that the PBOC just announced will help banks follow through on a directive to defer loan repayments from firms struggling with widening lockdown restrictions,” said Mark Williams, chief Asia economist at Capital Economics.
“Market interest rates may also edge down as a result, even if that’s not the main goal. But few firms or households are willing to commit to new borrowing in this uncertain environment. A small fall in interest rates wouldn’t make a difference.”
end
CHINA/COVID
Foxconn Offers Workers $1,400 To Leave China iPhone City After Mass Chaos
THURSDAY, NOV 24, 2022 – 04:15 PM
Apple’s manufacturing partner Foxconn Technology Group has begun distributing 10,000 yuan ($1,400) to newly recruited workers to leave the world’s largest iPhone factory in central China to quell the unrest, reported Bloomberg.
Late Wednesday, Foxconn proposed the payout plan to new hires, pleading with workers to return to their dormitories after days of chaos erupted at the factory in Zhengzhou. By Thursday morning, the move appeared to work as clashes with security guards seemed to have diminished.
A message obtained by CNN and Financial Times advised workers to “please return to your dormitories,” and in return, they would receive 8,000 yuan if they agreed to leave Foxconn. Then another 2,000 yuan would be distributed to workers once they boarded the busses home.
Bloomberg noted one of the significant factors behind the unrest, which began on Tuesday, was that newly recruited workers were highly disappointed with false promises about higher wages. Then Foxconn ‘apologized’ for a “computer glitch” Thursday that led to an “input error” for some staff to get paid less. The Apple supplier said it would honor contractual obligations.
“Foxconn promised big money — up to Rmb15,000 a month — to quickly recruit thousands of new workers, but it doesn’t seem to have materialized. That is why workers were so disappointed.
“The company is known for claiming to provide high wages then breaking their promises,” Jenny Chan, a China labor expert at Hong Kong Polytechnic University, told FT.
One blue-collar worker told FT, “We’re happy” to take the 10,000 yuan deal to leave the plant over pay disputes but also because of Covid concerns.
China’s strict “zero Covid” policy has already led Apple to warn about delays in iPhone production at the Zhengzhou factory. The latest round of unrest, and the most severe, could worsen the situation.
“We have Apple team members on the ground at our supplier Foxconn’s Zhengzhou facility.
“We are reviewing the situation and working closely with Foxconn to ensure their employees’ concerns are addressed,” the company said in a statement to Bloomberg.
Bloomberg’s breakdown of Apple’s supply chain shows Foxconn (otherwise known as Hon Hai Precision Industry Co., Ltd.) is a top supplier. Any manufacturing disruption in China could leave AT&T, Best Buy, and Verizon stores without iPhones.
Analysts estimate about 60% of all iPhones are produced at the Zhengzhou plant, which employs 200,000 workers. Apple has been shifting some production to India. There’s still no official statement on how large the disruption will be.
end
BIG story!! rioting in lockdown cisty Zhengzhou
China Covid Riot Live : Draconian Beijing Imposes Lockdown In Zhengzhou, Cases Jump To Record High – YouTube
Credit Suisse Craters To Record Low After Revealing Staggering $88 Billion Bank Run
WEDNESDAY, NOV 23, 2022 – 05:29 PM
One month ago, weeks before the crypto sector was shaken by the crushing FTX bankrun which led to a quick and painful bankruptcy, and revealed that one of the world’s biggest crypto exchanges and its “JPMorgan-esque” owner were nothing but hollow shells of fraud, another bank was suffering from a far bigger bank run.
Readers will recall that in mid-October we reported that the Fed was quietly wiring increasingly greater dollar amounts to the Swiss National Bank – which eventually peaked at around $11 billion weekly – which in turn was then using these dollar swap lines to plug USD funding holes within one or more Swiss commercial banks.
One didn’t need to be a rocket surgeon to figure out that the bank in question was Credit Suisse, which had seen its stock tumble amid a relentless barrage of scandals, corporate mistakes and the occasional fraud (that we know of), and which we said was likely suffering from a painful behind-the-scenes bank run.
Fast forward one month, when this morning the 2nd largest Swiss bank confirmed our worst-case speculation, admitting that it had just gone through a staggering bank run in which clients pulled as much as 84 billion Swiss francs, or $88.3 billion, of their money from the bank during the first few weeks of the quarter, underlining ongoing concerns over the bank’s restructuring efforts after years of scandals.
Of course, as FTX learned the hard way, bank runs don’t have a happy ending, and the Zurich-based bank warned on Wednesday that it will face a loss of up to 1.5 billion Swiss francs ($1.6 billion) for the three final months of the year, in large part as a result of the decline in wealth and asset management client funds from the start of October to Nov. 11. That, according to Bloomberg, is the worst exodus since the financial crisis.
The outflows were especially acute at the key wealth management unit, where they amounted to 10% of assets under management. While they have been “reduced substantially from the elevated levels of the first two weeks of October 2022,” they have yet to reverse, the bank said.
This means that just as we expected, the massive dollar swap lines were being used by the SNB to provide Credit Suisse with much needed, critical funding; had the funds not arrived, Credit Suisse would likely have liquidated!
The client withdrawals contrast with inflows at rival wealth managers in recent months. AT UBS Group AG, investors added more than $17 billion to the wealth management unit in the third quarter. Julius Baer Group Ltd. said on Monday that it saw a “clear improvement” in new money flows since the end of June, with wealthy clients adding a net 4.1 billion francs in the four months through October.
“The massive net outflows in Wealth Management, CS’s core business alongside the Swiss Bank, are deeply concerning — even more so as they have not yet reversed,” said Andreas Venditti, banking analyst at Bank Vontobel AG in Zurich. “Credit Suisse needs to restore trust as fast as possible – but that is easier said than done.”
Analysts at JPMorgan Chase & Co. and Jefferies said the wealth-management outflows were much worse than expected, and warned that bank wasn’t out of the woods. Ethos Foundation, a proxy advisor, said more steps may be needed to restore investor confidence than the bank has so far outlined.
“Cutting cost is one thing but growing the business is another one,” Vincent Kaufmann, Chief Executive Officer of Ethos, said on Bloomberg TV. “Maybe they can do both, but it remains to be seen.”
Besides the massive bank run which has drained the bank’s capital, the Zurich-based bank said it expects losses in both the wealth management division and its investment banking unit due to “subdued activity, market conditions, continued outflows of customer assets and the sale of non-core businesses.”
The bank’s grim outlook underscores the urgency for the bank’s latest (and soon to be former) Chairman Axel Lehmann to put Credit Suisse on a sustainable footing again through a sweeping overhaul that will see its investment bank carved up and greater focus placed on private banking. Shareholders on Wednesday approved a capital raise of about 4 billion francs that’s needed to finance the restructuring, which will also see about 9,000 jobs cut by 2025.
“Credit Suisse is on an important journey,” Lehmann said in a speech posted on the lender’s website. “We will work to rebuild and refocus this proud 166-year-old Swiss institution with global reach.”
The market was not as optimistic, and Credit Suisse tumbled more than 5%, crashing to a new record low.
In conclusion, the dismal Credit Suisse news provides a handy comparison between the fiat and crypto regimes:
FTX was hit with record bank run, and filed for bankruptcy in days, with no central bank to bail it out.
Credit Suisse hit with record bank run, and both the SNB and Fed rushed to bail it out.
One wonders which system is a better representation of what true capitalism should be like…
5.UKRAINE/USA
US Sending Ukraine 200 Generators,etc …. In a futile effort to avoid the truth of failure
Inboxend
obert Hryniak
Nov 23, 2022, 11:32 PM (7 hours ago)
to
Are we to applaud this cruel PR stunt or point out that generators need fuel, like in gas or diesel which is in short supply? And soon it will be allocated as the situation worsens. As it is the Ukrainians have lost their ability to transport troops across vast stretches because the trains are electric. This ensures a lessened resistance of futile efforts to avoid reality of a need to talk and allows for lives to be saved. It matters not whether talk comes now or in days ahead as the current government will be dispatched by local Ukrainian people who had enough of fanatics and enablers and pillagers. And many more people will flood Europe.
With it’s infrastructure degraded and the weather turning cold, Ukraine is facing the stark prospect of becoming a true failed nation where actual statehood collapses, in a truism not seen because it is much more than a failed economic or financial matter. It is true state of a dissolving nation laid to sacrifice on the altar of external collapsing hegemony. And where are the mass refugee camps in Europe to house the flood of people to come?
No amount of Western arms can change that harsh reality. Not even Britain sending in 10 Helicopters with trained Ukrainian crews. Want to bet at least one will be sold within days for cash?
Washington and Kiev have demonstrated they have no real interest in negotiations. Each for different reasons where a divide is growing quickly. One does wonder if anyone cares how Europeans feel? Or is this another “fuck the EU” Nuland moment where millions of hunger, cold displaced Ukrainians flood Europe along with the Nazi’s in their midst to lay waste to more lives? We are civilized are we not to have allowed this to occur? No one really wanted peace it was all about breaking Russia and feasting on its’ spoils while controlling Europe. Cannot have Europe entertaining Eurasia as a bloc.
Do you wonder why Milley as HEad of the Pentagon is trying to act political and caution the State department about their delusions of fighting Russia head on? Does anyone think that the rest of the world remains blind to what is occurring? It is a unfortunate group of people chosen to die and suffer misery as many others have before them. Do you really think this is different than Iraq, Afghanistan or Vietnam? Millions have perished and millions have suffered agony whether maimed or sold into slavery or worse. Many a brothel carries a sad tale of people who suffer.
It matters not what comes next because the Fate of Ukraine is sealed and it only remains to be seen how broad this conflict becomes and whether Europe sacrifices itself in a collapse because a war with Russia cannot be won. Russia keeps warning everyone who cares to listen this is the case and they will not surrender to the American or globalist agendas. Perhaps we should take solace from what is occurring in that the horror that has befallen the people of Ukraine is a wake call to all viewers to avoid the same fate. As it is 10’s of thousands of Europeans will die from policies already taken, this winter.
And while we can condemn the violence of war, equally deplorable is hegemony that seeks to destroy and plunder as opposed to creating value and creating a desire to be wanted instead of opposed. One might think that if history could teach, people wold read and understand the need to avoid its’ mistakes.
ReplyForward
5.//UKRAINE
Ukraine evacuates Kherson and Nikolaev: The lives of millions of Ukrainians are at risk –
“Colossal” damage to the electricity network! – WarNews24
You do not have to destroy power plants. You destroy or cause the substations to blow up. A large substation of just a 5000 KVA transformer takes like 90 days to get in certain places and upwards to 9 months in others. I used have 3 of them and maintenance is key and you cannot overload them. It is not like changing a fuse at home. Only Russia keeps a store of ready supply of these transformers. As it is all the transformers are of Russian origin in the Ukraine because they date back to Soviet times.
This is when Glasyev, who is coordinating the new design of a gold/commodities based currency to bypass the USD will personally brief Putin on both the state and latest format of the plan.
This is a big deal. Once this plan is known in a form which likely will change little in the end when it is introduced next year and the fate of the USD and many other currencies will be clear. My understanding is that core BRICS countries are fully on board with the design and formulas ( having been consulted and inputed comments) and that certain countries like Saudi Arabia have also advised their acceptance and willingness to reprice oil in the new currency. This in effect implies future OPEC pricing changes. What is the accommodation that will be afforded to USD dominated countries is not clear to me at this time. However what is certain is that a oil price shock is likely, on foreign oil. This is bound to curtail western economic activity to a measured extent to the downside. Because it is certain that OIL has to be repriced in USD terms, for USD centric nations, while everyone else adjusts accordingly. While this will create a boom in domestic drilling in countries with oil reserves in the West; countries with oil reserves will be winners while all things priced in USD will increase in price and cost for consumers. I will write you when i learn of the defined parameters some of which i understand now. No doubt when this occurs, scarcity and value contractions will occur in rapid sequence. I also understand that new BRICS participants will be assessed on net weighted benefits to the currency by association. Clearly resource rich countries or those with manufacturing prowess will be net winners. And we are likely to see a surge in alternative energy technology boosting efforts is say hydrogen power. As it is Tesla is switching to hydrogen powered cars in 2024 away from current batteries. Trying to escape the net deflationary impact with knowing the final yardsticks is difficult at best until it is known. As in the end, there is certainty that we in West are in for a living adjustment as there will be an unavoidable wealth transfer that results regardless. And it is equally clear that the simple printing press mentality of non securitized currency will be much more limited not acceptable for international payments. As it is now, printed dollars without backing are not acceptable by countries like China which is why we have seen a rise in empty containers and lower port activity.
Cheers
Robert
END
6. GLOBAL ISSUES//COVID ISSUES//VACCINE ISSUES.
Vaccine//Covid issues: Injuries
Oregon Corrects False Information On Child COVID-19 Hospitalization Rates
A report promoted by the Oregon Health Authority (OHA) has been corrected after falsely claiming nearly 50 percent of children aged 12 to 17 who contracted COVID-19 required hospital treatment.
The Rede Group, which created the report for the authority, acknowledged the misinformation in a memorandum obtained by The Epoch Times.
“There was an issue with the numerator for hospitalizations in Figure 40 on page 180. When we calculated the percent hospitalized for each age group, we mistakenly thought the weekly hospitalization data from OHA were unique; they are not,” Danna Drum with the Rede Group told OHA in the memo. “We should have noticed this earlier and apologize for the error. Figure 40 has been corrected in version 1.1 of the report using data provided directly from OHA.”
“Thank you for your attention to the matter and we apologize again for this error,” Drum added.
The old version of the report claimed that 47.4 percent of children aged 12 to 17 who contracted COVID-19 required hospital care.
According to OHA data, that percentage is actually at or below 1 percent.
The report also claimed that the hospitalization rates for all age groups were at or above 30 percent and portrayed the child hospitalization rates as higher than those of the elderly.
The new version of the report (pdf) presents significantly lower rates.
There was no indication in the report that it had been updated besides the addition of “(corrected)” to the graph’s title.
The Epoch Times asked OHA about the false claim, which led to OHA asking the Rede Group to examine the paper.
“The report has been updated with the correct data, and it has been reposted. You can find the new version of the report at the same link as before,” an OHA spokesman told The Epoch Times via email.
The Rede Group did not respond to a request for comment on the correction.
A bill passed by state legislators and signed into law by Democrat Gov. Kate Brown in March directed OHA to study how public officials in Oregon responded to the COVID-19 pandemic and produce three reports analyzing the response.
The legislation, Senate Bill 1554 (pdf), allocated approximately $900,000 in taxpayer money to the OHA for the purpose.
Proponents said the legislation would help identify how the public health response could be improved in advance of future crises.
“By beginning the After Action Report work this year, we will be better able to support public health investments and pave the way for future legislative action in the 2023 session. We must use this opportunity to learn meaningfully from this experience through a shared, iterative quality improvement process. We have a lot to learn and we must start now,” state Sen. Elizabeth Steiner Hayward, a Democrat who sponsored the legislation, said in a previous statement.
Linthicum was among the senators voting against the bill.
Linthicum said on the Senate floor that the report should include an assessment of the repercussions for widespread testing, including the testing of people who lacked symptoms, and an examination of how many businesses were closed due to the restrictive measures ordered by top officials.
Linthicum feels the entire first report, which runs 725 pages, was aimed at empowering the state by making it sound like the state did its best during the pandemic.
The report goes along with the storyline “that says, ‘oh, we had some deficiencies, we had some areas that needed improvement, but this was a good investment for Oregonians and we did our best,’” Linthicum said. “And that’s how you when you read the report, and given that insight to what the bill actually demanded of this reporting agency, you realize this is just trying to put lipstick on a pig.”
Read more here…GLOBAL ISSUES: FOOD INFLATION//SHORTAGES IN GENERAL
end
Big story! demand for unvaccinated blood soaring!!
———- Forwarded message ——— From: Dr Panda from Dr. Panda’s Newsletter<drpanda@substack.com> Date: Mon, Nov 21, 2022 at 8:09 AM Subject: Demand for Unvaccinated Blood Soaring To: <sabioncello@gmail.com>
As Anthony Fauci officially ‘retired’ Tuesday, former White House Coronavirus Task Force advisor Dr. Scott Atlas eloquently summarised the legacy Fauci leaves behind, one of “massive harm” to society.
Appearing on Laura Ingraham’s show, Dr. Atlas described Fauci’s as having “presided over the biggest failure in public health history over two different presidential administrations. “
Atlas further charged that Fauci’s policies “were implemented and those policies shifted the burden of this illness from the affluent to the poor, and incurred massive harm on our children, psychological damage, long-lasting damage, an obesity crisis, and we really haven’t seen tip of the iceberg on that damage to children, and again, worse on low income and poor kids.”
“And thirdly and perhaps most importantly,” Atlas continued, “Dr. Fauci, Dr. Birx, his underling, and many other people at the CDC and talking heads on TV have destroyed trust in public health.”
Atlas urged that “we have a huge challenge as a country to fix what happened in [Fauci’s] wake.”
As Fauci declared that his “final message” is for people to get keep getting booster vaccinations, Atlas noted that “Healthy people do not have a significant risk to a serious illness from COVID, that’s a fact, not an opinion. It’s been proven the world over.”
“It is very fitting to hear this constant mantra of almost nonsensical utterings by Dr. Fauci,” Atlas asserted, adding “we know by now the data shows the vaccines, although they have pretty good protections for high risk people and the elderly against death, they do not stop the spread of infection, they don’t stop you from getting COVID infection. And the risk-benefit ratio for people other than high risk is very different.”
Atlas further warned “You have to decide if it is appropriate to take an experimental drug if you have low risk of serious illness, particularly children. In fact, anyone who recommends that children, healthy children should get the vaccine, an experimental drug, injected into them, there’s a question about medical ethics there.”
“Are we as a society going to go down the pathway of even if you believe that it stops the spread of infection, which would be contrary to science, are we going to use our children as shields for infections?” Atlas asked, adding “This is really uncharted territory for what’s supposed to be a civilized society.”
Dr. Atlas also urged that “It’s frightening to have people in power that don’t know what they’re talking about that use fear to sway the public instead of data.”
“You don’t often hear it, you may never have heard Dr. Fauci use data. And this is very frightening. Two-thirds of people in the United States who died from COVID, two-thirds have greater than or equal to six comorbidities,” Atlas explained.
Fauci also advised Americans to get tested and consider cancelling thanksgiving without feeling any guilt.
Fauci again proclaimed that he has “nothing to hide,” and will cooperate with investigative hearings:
In the age of mass Silicon Valley censorship It is crucial that we stay in touch. We need you to sign up for our free newsletter here. Support our sponsor – Turbo Force – a supercharged boost of clean energy without the comedown. Also, we urgently need your financial support here.
end
Health of Pure Bloods Threatened by Shedding of mRNA and Spike Protein
Why the Unvaccinated are Concerned about Close Contact with COVID-19 Vaccinated
Happy Thanksgiving to all! – Unfortunately, no time to rest.
On Tuesday America’s highest-paid Government employee gave his final briefing from the White House. Dr. Anthony Fauci urged Americans should get up-to-date on their COVID and flu shots, making a final pitch in a long effort to explain to Americans the safety and efficacy of the COVID vaccines. He said:
“My message — and my final message, maybe the final message I give you from this podium — is that please for your own safety, for that of your family, get your updated COVID-19 shot as soon as you’re eligible to protect yourself, your family and your community,”
But this should come as no surprise to anyone, the data is changing. It’s not a ‘pandemic of the unvaccinated’. It’s actually a pandemic of the vaccinated.
For your own safety? Fifty-eight percent of coronavirus deaths in August were people who were vaccinated and boosted according to an analysis conducted by the Kaiser Family Foundation. More vaccinated people died from COVID than unvaccinated people.
You were promised a vaccine with a 90+% efficacy rate. You got a vaccine where nearly 60% of COVID deaths are from the vaccinated.
The data coming out of the CDC is now falling in line with other countries. Many of which I have written about here on Substack. They cannot hide it anymore. They cannot spin it anymore. They cannot ignore it anymore.
Fauci may be stepping down from public health, which is something to celebrate this Thanksgiving, he will no longer be a threat to public health. He will be the subject of Senate Hearings and Inquiries in the coming months.
Stay safe everyone! Thanks for Reading!
VACCINE IMPACT
Pro-COVID Vaccine Authorities Continue to Die or Become Disabled After Mocking the UnvaccinatedNovember 23, 2022 3:25 pmPro-COVID vaccine authorities who take time to go public and educate people on how safe and effective the COVID-19 vaccines are continue to die or become crippled, while many of those who take their advice fall victim to “unexpected” deaths or crippling injuries. Before dying or becoming injured, they often ridicule or mock those who refuse the vaccines. Dr. Fauci has stated publicly that the real danger to society are the “unvaccinated.” Is he correct?Read More…“Disturbed and Alarmed”: 66 Doctors, Clinicians and Scientists Call for Stop to Covid Vaccination of Pregnant Women Over Serious Safety ConcernsNovember 23, 2022 5:57 pmThere follows an open letter from 66 doctors, scientists and clinical practitioners to the Royal College of Obstetricians and Gynaecologists (RCOG), the Royal College of Midwives (RCM) and the U.K. Health Security Agency (UKHSA) regarding safety concerns about COVID-19 vaccinations in pregnancy. Where is the evidence, they ask.Read More…
Dr. A. Oveta Fuller, a member of the FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC) died suddenly this week after a “brief” illness, that’s non-COVID Related, according to a local news report. But is it vaccine related? Dr. Fuller was instrumental in securing the Emergency Use Authorizations (EUA’s) for the three COVID Vaccines.
She argued the vaccine was safe and effective and claimed the fully vaccinated (unsure how many jabs was her definition) to be “a major tool in toolkit to crush or at least manage coexistence with low Covid levels.”
Though she doesn’t say, it’s safe to assume she followed the CDC’s vaccine recommendations and most likely had her full 5 courses of vaccine doses before her brief illness, unrelated to COVID, resulting in her death. Must be that Sudden Adult Death Syndrome that’s been going around lately.
Speaking of sudden death – I wanted to share a documentary with over 1.2 million views on Twitter. I originally planned to just share the documentary alone but saw the unfortunate news of Dr. Fuller that was related to the documentary.
Died Suddenly is an hour-long documentary that explores the recent surge of people dying unexpectedly. It explores the bizarre surge of people dying unexpectedly, a disturbing phenomenon many have observed coincides with the rollout of the experimental COVID-19 jab.
The documentary interviews embalmers, doctors and vaccine experts, all of whom warn the so-called vaccines are to blame. It has plenty of video evidence of the giant blood clots found in vaccinated patients many are talking about.
I cannot vouch for its authenticity, so please, like always, do your own research. It is however better to be informed. Plenty of hit pieces from the mainstream media are already emerging.
The USA/Yuan, CNY: closed ON SHORE (CLOSED ..UP) AT 7.1198
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. 7.1240
TURKISH LIRA: 18.62 EXTREMELY DANGEROUS LEVEL/DEATH WISH/HYPERINFLATION TO BEGIN.
the 10 yr Japanese bond yield at +0.243
Your closing 10 yr US bond yield UP 4 IN basis points from FRIDAY at 3.825% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 3.925 UP 4 in basis points
Your closing USA dollar index, 106.89 UP .50 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 UP 38.98 PTS OR 0.53%
German Dax : CLOSED UP 165.48 POINTS OR 1.16%
Paris CAC CLOSED UP 68.34 PTS OR 1.04%
Spain IBEX CLOSED UP 87.10 OR 1.08%
Italian MIB: CLOSED UP 335.51 PTS OR 1.38%
WTI Oil price 80.23 12: EST
Brent Oil: 87,83 12:00 EST
USA /RUSSIAN /// DOWN TO: 60.540/ ROUBLE UP 0 AND 13/100 RUBLES/DOLLAR
GERMAN 10 YR BOND YIELD; +2.017
UK 10 YR YIELD: 3.2670
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0243 DOWN .0079 OR 79 BASIS POINTS
British Pound: 1.1818 DOWN .0047 or 47basis pts
BRITISH 10 YR GILT BOND YIELD: 3.228%
USA dollar vs Japanese Yen: 142.09 UP 1.831/YEN DOWN 183BASIS PTS//
USA dollar vs Canadian dollar: 1.3450 UP 0.01016 (CDN dollar, DOWN 102 basis pts)
West Texas intermediate oil: 79.74
Brent OIL: 87.19
USA 10 yr bond yield UP 42BASIS pts to 3.832%
USA 30 yr bond yield UP 2 BASIS PTS to 3.906%
USA dollar index:107,74 UP 391POINTS
USA DOLLAR VS TURKISH LIRA: 18.62
USA DOLLAR VS RUSSIA//// ROUBLE: 60.85 DOWN 0 AND 41/100 ROUBLES
DOW JONES INDUSTRIAL AVERAGE: DOWN 45.41 PTS OR 0.13%
NASDAQ 100 DOWN 123.57 PTS OR 1.06%
VOLATILITY INDEX: 22.41DOWN 0.71PTS (3.07)%
GLD: $161.88 DOWN 0.89 OR 1.58%
SLV/ $19.250DOWN $0.05 OR 0.20%
end)
USA trading day in Graph Form
USA ELECTION RESULTS:
EARLY MORNING TRADING
ii) USA DATA
Housing Market Obliterated: Pending Home Sales Post Record Drop As Deal Cancelations, Price Cuts Hit Record High
THURSDAY, NOV 24, 2022 – 05:25 PM
Last week, we observed thatdelusion and hope can only last so long (even when one’s salary depends on it) as US homebuilder confidence crashed to COVID lockdown lows in November after failing (or refusing) to see what was obvious to everyone for months, and what homebuyers were clearly feeling as prices soared along with mortgage rates and record low affordability for most Americans. And don’t get us started on homebuyer confidence: just look at the red line below which has taken out all previous record lows (including the post-2006 housing bubble) and is hitting new record lows every single month…
Well, slowly but surely this epic collapse in sentiment is spreading to market metrics, and while it will take between 6 and 9 months for real-time data to reach the badly lagging government-level CPI and PCE data, what’s taking place in the US housing market right now is nothing short of a meteor strike, with RedFin reporting in its latest market forecast that pending home sales fell the most on record in October and deal cancellations and price cuts hit record highs as buyers were spooked by the biggest mortgage-rate jump in over four decades.
Pending sales dropped 32.1% year over year last month, the largest decline since at least 2013, when Redfin’s records begin.
Nearly 60,000 home-purchase agreements fell through, equal to a record 17.9% of homes that went under contract.
Meanwhile, almost one-quarter (23.9%) of homes for sale experienced a price drop, double the rate of a year earlier.
Surging mortgage rates also caused would-be sellers to stay put due to the lock-in effect. The average 30-year-fixed mortgage was 6.9% in October, up 3.83 percentage points from 3.07% one year earlier—the largest year-over-year increase during any month since 1981. That contributed to a 24% year-over-year drop in new listings, the steepest decrease on record aside from April 2020, when the onset of the pandemic brought the housing market to a near halt.
“The Fed’s actions to curb inflation are causing the housing market to slow at a pace not seen since the financial crisis,” said Redfin Economics Research Lead Chen Zhao. “There are already early but promising signs that inflation is cooling, which caused mortgage rates to drop last week. If that progress continues, buyers who recently backed out of deals may return to the market and sellers may be less inclined to slash their prices.”
Still, sale prices are only now just starting to fall as sellers, having held out until now, are starting to feel the need for liquidity and are increasingly hitting whatever bid they can see. And while the median U.S. home sale price declined 1.4% month over month—the largest slowdown during any October since 2012—it was still was up 4.9% from a year earlier. That will change very soon.
Prices may ease as listings linger on the market and competition slows. Homes that sold in October were on the market for a median of 35 days, up from 21 days a year earlier, and less than half (44.6%) of home offers written by Redfin agents faced competition. That compares with more than two-thirds (67.3%) in October 2021.
Here are the October highlights tabulated:
Again, none of this will show up in official US Dept of Commerce/BLS data until some time in the summer by which point the Fed may have hiked to 6% pushing the US into an all out depression.
END
III) USA ECONOMIC STORIES.
SWAMP STORIES
Top Arizona Election Official Moved To ‘Undisclosed Location’
Bill Gates, chair of the Maricopa County Board of Supervisors, confirmed that he was moved to an undisclosed location for safety reasons amid security concerns in connection to the 2022 midterm elections.
While speaking on KTAR News 92.3 FM’s “Arizona’s Morning News” on Nov. 21, Gates noted that the condition hasn’t interfered with his work in the state’s election system.
Gates was asked on the show to describe what the incident has done to him and his family emotionally, and also if he’s considering leaving public office following threats of violence.
“I’ve been an elected official since 2009 and here’s the reality: You’re not going to make everyone happy,” he said. “I was elected and was privileged to be reelected by my constituents in 2020 and I’m going to continue to serve.”
Gates said disruption to his family “has been minimal,” adding that the issue has been “blown out of proportion.” He also underscored that the situation did not have any impact on his official duties.
“This isn’t about me at all. I’m going to be fine. My family is going to be fine. This is not impacting me doing my work on the election, or generally, any one of the 50 lines of business that we’re in at Maricopa County,” Gates said.
“Threats of violence should never be normalized, of course, and I am, in particular, more concerned with our elections workers who have been dealing with this … not only here in Maricopa County but, really, nationwide for the past two years,” he added.
Jason Berry, a Maricopa County spokesperson, told CNN that Gates moved locations after there was a specific threat made against him on an undescribed social media platform. He was under the protection of the Maricopa County Sheriff’s Office and stayed at the undisclosed location for just one night.
The incident occurred as the state’s most populous county has been criticized after widespread problems with ballot-tabulation equipment were reported on Election Day at approximately 70 of the county’s 223 voting centers.
A judge in Maricopa County who was asked to adjudicate an emergency motion (pdf) filed by the Republican National Committee (RNC), as well as GOP gubernatorial candidate Kari Lake and U.S. Senate candidate Blake Masters, said that the GOP did not “have evidence there was a voter who was precluded the right to vote” in connection to the tabulation problems.
Arizona AG Investigation
Lake, a candidate backed by former President Donald Trump, criticized the way Maricopa County ran the Nov. 8 elections, proclaiming on Nov. 19 that she will become governor after the office of Arizona Attorney General Mark Brnovich demanded explanations about Election Day problems in the county.
Officials in at least 15 counties have “caused the unlawful denial of the franchise to certain qualified electors, erroneously tallied certain ballots, and included for tabulation in the canvass certain illegal votes in connection with the election for the office of Arizona Attorney General,” Abe Hamadeh, the candidate, said in the complaint.
That includes Maricopa County officials improperly disqualifying ballots cast by people who, as a direct result of poll worker errors, were incorrectly listed as voting previously in the midterm election, Hamadeh added.
“Immediate judicial intervention is necessary to secure the accuracy of the results of the November 8, 2022 general election, and to ensure that candidate who received the highest number of lawful votes is declared the next Arizona Attorney General,” the complaint states.
The filing was lodged in Maricopa County court.
The Arizona attorney general race is headed to a recount, according to Katie Hobbs, the state’s secretary of state, due to the slim margin separating Hamadeh from Democrat candidate Kris Mayes.
Mayes is leading by just 510 votes out of more than 2.5 million cast, according to an unofficial tally from Hobbs’s office.
Mayes and Hobbs, who were named as defendants in the new suit, did not respond to requests for comment. A Maricopa County spokesperson did not immediately return an inquiry.
Problems
Maricopa County officials have acknowledged problems with tabulation equipment, saying the problem affected 30 percent of all voting centers in the county and an estimated 17,000 ballots.
On election day the officials said that voters could place their ballots in a secure box to be counted later. Other options included “checking out” of the poll site and casting a ballot at another location, or utilizing an early ballot if one was possessed.
Both of the latter options required poll workers to properly list the voter as checking out, or leaving the site without casting a ballot, but some workers “were unaware of the process,” the new complaint alleges.
“This pervasive and systematic error directly and proximately resulted in three recurring scenarios in which qualified electors were unlawfully and unconstitutionally disenfranchised,” it added.
Hamadeh and the Republican National Committee, which joined in the legal action, say that at least 146 voters who should have been checked out and who later went to another location were required to vote using provisional ballots, which they say will not be counted because the voter was erroneously listed as having already voted.
At least 273 other voters who should have been checked out utilized early ballots but those ballots will not count because of the same issue, the Republicans said.
Maricopa County Board of Supervisors Chairman Bill Gates, a Republican, failed to outline the steps voters had to take if they left the sites at which there were problems in a widely-viewed Election Day video that featured officials acknowledging for the first time the issues with tabulators, the complaint noted. He did not mention checking out but merely said people could “go to a nearby voting center.”
“Chairman Gates’s instructions foreseeably resulted in the disenfranchisement of a significant number of qualified electors who followed his instructions,” it says. “By inducing voters to leave polling locations and then denying-through a consistent and erroneous practice of failing to properly implement ‘check-out’ procedures-these qualified electors their right to duly cast a ballot for tabulation, the Maricopa County Defendants engaged (through their election boards) in cognizable ‘misconduct,’ and wrongfully excluded valid and legally sufficient votes from the canvass line the race for Arizona Attorney General.”
Other Issues
Other issues include officials allegedly violating the law when they sought to verify early ballot signatures.
Officials must, when receiving a mail-in ballot, compare the signature on the envelope containing the ballot with the signature of the voter on record. If the signatures don’t match, the ballot is invalid unless the voter “cures” the problem within three to five days, depending on the type of election.
A number of the ballot envelopes had mismatched signatures but were still counted because county officials determined the signature matched the signature on a different document other than the registration record, which violates state law, the complaint alleges.
The issue happened across multiple counties, the Republicans say.
They also alleged that in the duplication process—triggered when a ballot is too defective to be read by a tabulator—officials incorrectly transcribed some of the selections in the attorney general race, which led to an inaccurate vote count.
“Arizonans demand answers and deserve transparency about the gross incompetence and mismanagement of the General Election by certain election officials. I will not stop fighting until ALL voters receive justice. See you in court,” Hamadeh said in a statement.
Ronna McDaniel, chairwoman of the Republican National Committee, said that the committee was “proud to join in this legal action.”
“Maricopa County’s election failures disenfranchised Arizonans,” she said. “We’re going to court to get the answers voters deserve.”
KING REPORT
The King Report for November 23, 2022
Independent View of the News
ECB’s Simkus Says Half-Point December Rate Hike Is the Minimum Third straight 75 basis-point increase is ‘also possible’ Lithuanian central bank chief speaks in interview in Vienna The European Central Bank must lift interest rates by at least a half-point in December to tackle record inflation, according to Governing Council member Gediminas Simkus, who considers a larger move still an option. While it’s clear that price growth remains too rapid and borrowing costs will have to rise further in 2023, it’s too early to settle on the size of the next move as officials will only get fresh economic forecasts at the Dec. 14-15 meeting, Simkus said in an interview. A decision on reducing the ECB’s bond portfolio will also play a role, he said… “It’s clear that 50 basis points is a must,” the Lithuanian central bank chief said in Vienna. “Because we still see very strong inflation pressures and we need to dampen them as soon as possible to prevent a de-anchoring of inflation expectations. 75 is also possible.”… https://financialpost.com/pmn/business-pmn/ecbs-simkus-says-half-point-december-rate-hike-is-the-minimum
Fed’s Mester wants more progress on inflation before ending interest rate hikes “We’re going to have more work to do, because we need to see inflation really on a sustainable downward path back to 2%,” she said in a live “Closing Bell” interview with Sara Eisen. “We’ve had some good news on the inflation front, but we need to see more good news and sustained good news to make sure that we are returning to price stability as soon as we can.”… Mester said she’s on board with the reduced pace. “We’re at a point where we’re going to enter a restrictive stance of policy. At that point, I think it makes sense that we can slow down a bit the … pace of increases,” she said. “We’re still going to raise the funds rate, but we’re at a reasonable point now where we can be very deliberate in setting monetary policy.”… https://t.co/6klTCVZ870
Despite the above hawkish Fed and ECB comments, ESZs, stocks, bonds, and commodities rallied. Traders wanted to push stuff higher, and they knew it would be easy in the thin holiday markets.
ESZs hit a bottom of 3945.25 at 3:41 ET. European traders then pushed ESZs to 3969.75 at 4:40 ET. ESZs and stocks then retreated until the US repo market opened at 7 ET. ESZs rallied from 3956.50 to 3980.00 at the NYSE open. Alas, sellers appeared; ESZs sank to 3963.25 at 9:38 ET.
But the desire and need to push stuff higher was strong. So, traders pushed ESZs to a daily high of 3989.50 at 11:00 ET. After a retreat into the European close, a modest Noon Balloon developed. It ended at 12:17 ET. ESZs and stocks then went inert. In the afternoon, ESZs persistently plodded higher; they jumped higher when the final hour arrived. ESZs peaked (4012.50) at 15:50 ET.
As we noted in Tuesday’s missive, traders wanted to create a Turnaround Tuesday to the upside; and they knew the thin holiday markets would provide them a great opportunity to markup stuff.
Meta rallied on a rumor that Mark Zuckerberg might resign in 2023. Meta denied that Zuckerberg would retire; Meta shares sank. It sure looks like another market manipulation attempt!
Positive aspects of previous session Stocks, bonds, and commodities rallied sharply on trader manipulation in the thin holiday markets
Negative aspects of previous session WTI Oil rallied 2.2%; Gasoline soared over 5%! Industrial commodities rallied sharply Irrational exuberance and wanton speculation in equities has returned – Best Buy +13% on Tuesday!
Ambiguous aspects of previous session The dollar declined sharply
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE open:Up; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 3988.80 Previous session High/Low: 4005.88; 3956.88
@RobinBrooksIIF: Germany’s current account surplus (blue) is less than a third of what it once was. Rest of the Euro zone has fallen back into the kind of deficits we’ve not seen since pre-2008. The Euro zone has a growth problem. Only structural reforms – not debt mutualization – will fix this. https://t.co/nWAdtBtoUQ
White House shuts down reporter’s Fauci question on COVID origin: ‘I’m done with you White House press secretary Karine Jean-Pierre snapped at reporters who raised questions about the origins of COVID-19 during Tuesday’s press briefing, which featured outgoing White House chief medical adviser Dr. Anthony Fauci… https://www.foxnews.com/politics/white-house-shuts-down-reporter-fauci-question-covid-origin-im-done-you
@DianaGlebova: I attempted to ask Fauci several times on what he personally did to demand answers into the origins of COVID-19. I always come with honest answers that Americans want to know. That’s why the White House refuses to call on me, and then calls ME “disrespectful.”
MO AG and US Senator Elect @Eric_Schmitt: We’ll be taking Dr. Fauci’s deposition tomorrow in our lawsuit against the Biden Administration for colluding with Big Tech to censor speech. We have lots of questions for Dr. Fauci.
British Medical Journal: FDA oversight of clinical trials is “grossly inadequate,” say experts Covid-19 vaccines and drugs were developed at “warp speed” and now experts are concerned that the US Food and Drug Administration inspected too few clinical trial sites… Regulatory documents show that only nine out of 153 Pfizer trial sites were subject to FDA inspection before licensing the mRNA vaccine. Similarly, only 10 out of 99 Moderna trial sites and five of 73 remdesivir trial sites were inspected. Now, facing a backlog of site inspections, experts have criticised the FDA’s oversight of clinical trials, describing it as “grossly inadequate.” They say the problem, which predated covid-19, is not limited to a lack of inspections but also includes failing to notify the public or scientific journals when violations are identified—effectively keeping scientific misconduct from the medical establishment. The FDA is “endangering public health” by not being candid about violations that are uncovered during clinical trial site inspections, says David Gortler, a pharmacist and pharmacologist who worked as an FDA medical reviewer between 2007 and 2011 and was then appointed as a senior adviser to the FDA commissioner in 2019-21. “The lack of full transparency and data sharing does not allow physicians and other medical scientists to confirm the data independently and make comprehensive risk-benefit assessments,” continues Gortler, who is now a fellow at the Ethics and Public Policy Center thinktank in Washington DC… https://www.bmj.com/content/379/bmj.o2628
Today – The Turnaround Tuesday that beaucoup traders wanted and needed appeared. Barring news, most activity should occur early as absenteeism will increase as the session progresses. The markets were easy to manipulate on Tuesday due to holiday absenteeism. The markets will be even thinner today.
Ergo, there is no telling what a few determined traders will do. ESZs are +2.00 at 20:30 ET.
Expected economic data: Oct Durable Goods 0.4% m/m, Ex-Trans 0.0%, Nondef Ex-Air 0.0%, Shipments 0.2%; Initial Jobless Claims 22k, Continuing Claims 1.52m; Nov S&P Global US Mfg PMI 50.0, Services 48.0, Composite 48.0; Nov UM Sentiment 55, Current Conditions 57.8, Expectations 52.5. 1-year Inflation 5.1%; Oct New Home Sales 570k, -5.5% m/m; FOMC Minutes Nov 2 14:00 ET
Bombshell Arizona report: Election Day problems in Maricopa far wider than county admitting Widespread equipment failures, hours-long lines were “voter suppression” that “would necessarily impact the vote tallies for Republican candidates much more than the vote tallies for Democrat candidates,” concluded RNC report compiled from detailed observer accounts. https://justthenews.com/maricopa-county-follies-affidavits-detail-ballot-shenanigans-arizonas-largest-county
Iowa Republicans dump Trump for DeSantis in caucus survey (32% to 30%) The result represents a 23-point swing in the poll from June… https://trib.al/E0VTdKt
It was a foregone conclusion that Hillary Clinton would be the Democratic Candidate for the presidency in 2008. Then, Team Obama rigged the Iowa Causes. This put Obama on the map. Then, Team Obama worked its magic in the South Carolina primary. Obama won. The Clintons were livid. Bill Clinton accused Team Obama of playing the race card. Hillary knew she was finished. If she went scorched Earth on Obama to secure the nomination, blacks would not vote for her in the general election. She got the best deal possible: Secretary of State, where she would control tens of billions of dollars.
The order of the GOP 2024 Primaries is not yet set. Iowa, New Hampshire, and Nevada vying to be first. DeSantis is now favored in the Iowa Causes. Trump is very unpopular in New Hampshire, the usual site of the first GOP Primary. If DJT loses in Iowa and NH, which is highly probable, he is in big trouble. If primaries in southern states are next, DeSantis could procure unbeatable momentum.
Polling has been clear for years. Americans want Trumpism without Trump. As more people see DeSantis as the viable alternative to Trump, the more the momentum moves to DeSantis, and more momentum will induce more people to move to DeSantis, creating a self-reinforcing loop.
Jen Psaki: Investigations for Thee but Not for Me Former White House Press Secretary Jennifer Psaki, much like her old boss, is a big fan of investigations…Psaki routinely endorsed criminal, civil, and congressional inquiries into the events of January 6 and warned the individuals targeted—including Donald Trump and his former aides—that they must comply with the legal process… Psaki is one of more than five dozen current and former federal officials—including Biden, Dr. Anthony Fauci, and Surgeon General Vivek Murthy—being sued by the states of Missouri and Louisiana for violating the First Amendment rights of American citizens… On November 1, Psaki was served with a subpoena, ordering her to appear for a sworn deposition in Arlington, Virginia, near her home. Psaki, however, doesn’t have time… “The burdens of preparing and sitting for any wide-ranging deposition are significant, let alone the deposition of a former senior administration official,” Psaki’s legal team wrote in a November 3 motion to quash the subpoena. “And imposing that burden on Ms. Psaki, a nonparty private citizen, is entirely unwarranted on this record.” In a separate statement to the court, Psaki claimed that “sitting for a deposition in this matter would be extremely burdensome for me. Among other things, I understand that I would need to devote several days to preparing for the deposition, as well as attending the deposition itself, and that would be highly disruptive to both my work and my family.”… https://amgreatness.com/2022/11/21/jen-psaki-investigations-for-thee-but-not-for-me/
Emmanuel Macron: “We Need a Single Global Order” Macron’s words are sure to confuse the ‘fact checker’ industry, which continues to insist that claims about the ‘New World Order’ or one world government are a baseless conspiracy theory… https://summit.news/2022/11/21/emmanuel-macron-we-need-a-single-global-order/
Matt Gaetz says Biden admin wants European Union-like deal with Canada and Mexico: ‘Globalist order’ – The United States could become more closely united with Canada and Mexico as there are reportedly negotiations in the works between the Biden administration and these countries to form a European Union-like agreement… Gaetz, R-FL, told Fox News’ Tucker Carlson on Friday that he was made aware of the backdoor talks by Mexico President Andres Manuel Lopez Obrador and said he has personally reached out to Secretary of State Antony Blinken for more information… “the globalist Left wants a homogenized America because they do not think that much of the United States of America in the first place.”… (May 15, 2022, Regime media spiked the story) https://www.foxnews.com/politics/matt-gaetz-says-biden-admin-wants-european-union-like-deal-with-canada-and-mexico-globalist-order
https://t.co/mgMhc0YNrA— Dave Portnoy (@stoolpresidente) November 23, 2022
(@basedkarbon) November 23, 2022
(@BTC_Archive) November 23, 2022
(@AutismCapital) November 23, 2022
Pro-COVID vaccine authorities who take time to go public and educate people on how safe and effective the COVID-19 vaccines are continue to die or become crippled, while many of those who take their advice fall victim to “unexpected” deaths or crippling injuries. Before dying or becoming injured, they often ridicule or mock those who refuse the vaccines. Dr. Fauci has stated publicly that the real danger to society are the “unvaccinated.” Is he correct?Read More…“Disturbed and Alarmed”: 66 Doctors, Clinicians and Scientists Call for Stop to Covid Vaccination of Pregnant Women Over Serious Safety ConcernsNovember 23, 2022 5:57 pm
There follows an open letter from 66 doctors, scientists and clinical practitioners to the Royal College of Obstetricians and Gynaecologists (RCOG), the Royal College of Midwives (RCM) and the U.K. Health Security Agency (UKHSA) regarding safety concerns about COVID-19 vaccinations in pregnancy. Where is the evidence, they ask.Read More…
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