Nov 30//First day notice for both gold and silver//gold closed down $3.45 to $1746.80//silver closed up 23 cents to $21.58//COVID UPDATES: re China updates on lockdowns//vaccine impact//Dr Paul Alexander//rather weak 58 tonnes of gold standing ant 23 million oz of silver///other important commentaries//swamp stories for you tonight//

GOLD PRICE CLOSE: DOWN $3.45at $1746.80

SILVER PRICE CLOSE: UP 33 cents  to $21.58

Access prices: closes : 4: 15 PM

Gold ACCESS CLOSE 1768.30

Silver ACCESS CLOSE: 22.23

New: early yesterday morning//

Bitcoin morning price:

Bitcoin: afternoon price: $17,061 UP 600

Platinum price closing  DOWN $

Palladium price; closing

END

Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading

I will now provide gold in Canadian dollars, British pounds and Euros/4: 15 PM ACCESS

CANADIAN GOLD: $2378 up $2.40

BRITISH GOLD: 1699.00 up 5.13 pounds per oz

EURO GOLD: 1466.06 up  2.40 euros per oz

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EXCHANGE: COMEX

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EXCHANGE: COMEX
CONTRACT: DECEMBER 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,748.400000000 USD
INTENT DATE: 11/29/2022 DELIVERY DATE: 12/01/2022
FIRM ORG FIRM NAME ISSUED STOPPED


072 C GOLDMAN 137
099 H DB AG 193
104 C MIZUHO 54
118 C MACQUARIE FUT 250
132 C SG AMERICAS 114
190 H BMO CAPITAL 1169
323 C HSBC 400
332 H STANDARD CHARTE 669
357 C WEDBUSH 3
435 H SCOTIA CAPITAL 234
523 C INTERACTIVE BRO 1
624 C BOFA SECURITIES 8
624 H BOFA SECURITIES 595
657 C MORGAN STANLEY 433 18
661 C JP MORGAN 905 2525
685 C RJ OBRIEN 10
686 C STONEX FINANCIA 9
700 C UBS 221
732 H RBC CAP MARKETS 933
800 C MAREX SPEC 55
845 C GOLDMAN SACHS C 19
880 C CITIGROUP 2411 71
880 H CITIGROUP 901
905 C ADM 19 33


TOTAL: 6,195 6,195
MONTH TO DATE: 6,195

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GOLD: NUMBER OF NOTICES FILED FOR DEC. CONTRACT:    6195 NOTICES FOR 6195,00  OZ  or 19.265TONNES

total notices so far: 6195 contracts for 619,500 oz (19.265 tonnes)

 

SILVER NOTICES: 1885 NOTICE(S) FILED FOR 9,075,000OZ/

 

total number of notices filed so far this month  9,075,000  for 3,725,000  oz



END

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 STRONG SIZED 819 CONTRACTS TO 121,2858 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 70 CENT GAIN IN SILVER PRICING AT THE COMEX ON TUESDAY.  OUR SHORTERS/HFT WERE  UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.70, AND WERE UNSUCCESSFUL IN KNOCKING ANY  SPEC LONGS, AS WE HAD A SMALL SIZED LOSS IN OUR TWO EXCHANGES OF 364 CONTRACTS.  WE HAD A SOME ATTEMPTED SPEC SHORT COVERINGS OF  THEIR SHORTFALLS WITH LIMITED SUCCESS .WE HAD ZERO SPEC SHORT ADDITIONS AS THE PRICE OF THE METAL WAS ROSE STRONGLY. // 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 ZERO 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 GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT  23 .24. MILLION OZ///    / //  V)   STRONG SIZED COMEX OI LOSS/ 

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL:-+10

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 21 days, total 26,858 contracts: 134.290 million oz  OR 6.380 MILLION OZ PER DAY. (1217 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 134.290 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: 134.290 MILLION OZ//FINAL

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 819 DESPITE  OUR  $0.70 GAIN IN SILVER PRICING AT THE COMEX// TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE  CONTRACTS: 465 CONTRACTS ISSUED FOR MAR 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 DEC OF  23.24 MILLION  OZ /  .. WE HAVE A FAIR SIZED LOSS OF 354 OI CONTRACTS ON THE TWO EXCHANGES FOR 1.77MILLION  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  1815 NOTICE(S) FILED TODAY FOR  9,075,000 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 GOOD SIZED  3940 CONTRACTS  TO 433,661 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  406 CONTRACTS.

.

THE FAIR SIZED DECREASE  IN COMEX OI CAME DESPITE OUR  STRONG GAIN IN PRICE. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR NOV. AT 58.86 TONNES ON FIRST DAY NOTICE //(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S WILL CONTINUE UNTIL MONTH’S END)

YET ALL OF..THIS HAPPENED WITH OUR GAIN IN PRICE OF  $8.75 WITH RESPECT TO TUESDAY’S TRADING

WE HAD A FAIR SIZED LOSS OF 3316 OI CONTRACTS (10.314 PAPER TONNES) ON OUR TWO EXCHANGES..

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 624  CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 433,661

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3316 CONTRACTS  WITH 3940 CONTRACTS DECREASED AT THE COMEX (SHORT SPECULATORS FAILING TO GET OUT OF THEIR MESS) AND 624 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF  2910 CONTRACTS OR 9.051 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (624 ACCOMPANYING THE FAIR SIZED  LOSS IN COMEX OI (3940)TOTAL LOSS IN THE TWO EXCHANGES 3316 CONTRACTS. WE NO DOUBT HAD 1) CONSIDERABLE ATTEMPTED BUT FAILED SPECULATOR SHORT COVERINGS// CONTINUED GOOD BANKER ADDITIONS.  WE  HAD LIMITED SHORT SPEC ADDITIONS/// // CONSIDERABLE NEWBIE SPEC  ADDITIONS  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR DEC. AT 58.86 TONNES //NEW STANDING 27.110 TONNES///3) ZERO LONG LIQUIDATION //// //.,4)   FAIR 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. :

72,011 CONTRACTS OR 7,201,100 O Z OR 223.98TONNES 21  TRADING DAY(S) AND THUS AVERAGING: 3429 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21 TRADING DAY(S) IN  TONNES:223.98 TONNES

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

THUS EFP TRANSFERS REPRESENTS  223.98/3550 x 100% TONNES  6.76% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2022 

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE// 

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

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

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247,44 TONNES FINAL// 

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

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 819 CONTRACTS OI TO  121,358 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 465 CONTRACTS

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

MAR  465  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  465 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 819  CONTRACTS AND ADD TO THE 465 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A SMALL SIZED LOSS  OF 354 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. 

THUS IN OUNCES, THE LOSS  ON THE TWO EXCHANGES 1.770 MILLION OZ//

OCCURRED DESPITE OUR GAIN IN PRICE OF  $0.70….. OUR SPEC SHORTS HAVE NOWHERE TO HIDE!

OUTLINE FOR TODAY’S COMMENTARY

1/COMEX GOLD AND SILVER REPORT

(report Harvey)

2 ) Gold/silver trading overnight Europe,

(Peter Schiff,

end

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

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

end

5. Other gold/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 GOOD SIZE OF  3940 CONTRACTS DOWN TO 433,681 DESPITE THE RISE IN PRICE..$8.75

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 624  EFP CONTRACTS WERE ISSUED:  ;: ,  . 0 FEB: 624 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 624  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 FAIR SIZED  TOTAL OF 3316 CONTRACTS IN THAT 624 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED  COMEX OI  LOSS OF 3940 CONTRACTS..AND  THIS FAIR SIZED LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR GAIN IN PRICE OF GOLD $8.75. 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 DEC  (58.86TONNES),

 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 27.110 TONNES/FINAL (TOTAL SO FAR THIS YEAR 591.535 TONNES)

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT ROSE $8.75) BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE HAD A  FAIR LOSS OF 2910 CONTRACTS ON OUR TWO EXCHANGES ALL OF WHICH WAS SPREADER LIQUIDATION>. WE HAD SOME SPEC SHORT ADDITIONS AND CONSIDERABLE SPEC SHORT COVERINGS..  WE HAD A FAIR SIZED LOSS ON OUR TWO EXCHANGES OF 3316 CONTRACTS.//    WE HAVE LOST A TOTAL OI  OF 10.314 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR  GOLD TONNAGE STANDING FOR DEC. (58.86 TONNES)…THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE OF $8.75.  WE WITNESSED CONCLUSION oF SPREADER LIQUIDATION TODAY

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

NET LOSS ON THE TWO EXCHANGES  2910 CONTRACTS OR 291000 OZ OR 9.051 TONNES

Estimated gold volume 110,230//  awful//

final gold volumes/yesterday  282,121/  fair to good

INITIAL STANDINGS FOR  DECEMBER 2022 COMEX GOLD //NOV 30

GoldOunces
Withdrawals from Dealers Inventory in oznil oz
Withdrawals from Customer Inventory in oz 64,302.000oz
Brinks
JPMorgan
2,000 kilobars







 









 
Deposit to the Dealer Inventory in oznil 
Deposits to the Customer Inventory, in oz
87,865.15 oz
Brinks
No of oz served (contracts) today6195 notice(s)
619500  OZ
19.265 TONNES
No of oz to be served (notices)  12,472  contracts 
  973000oz
38.86 TONNES

 
Total monthly oz gold served (contracts) so far this month6125 notices
612500
19.265TONNES
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthxxx oz

total dealer deposit  0

total dealer deposit:  nil oz

No dealer withdrawals

Customer deposits: 0

total deposits  nil oz

 customer withdrawals:2

)Out of Brinks  64.301 oz

ii) Out of JPMorgan:  64,300.000 oz

Total withdrawals: 64,364.310 oz

total in tonnes: 2.00onnes

Adjustments: 1//   dealer to customer

i) 110,631.591.00 Brinks

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOVEMBER.

For the front month of DECEMBER we have an oi of 18,667 contracts having LOST 9663 contracts.  

Thus by definition, the initial amount of gold standing in this very active December contract is as follows:

18,925 contracts x 100 oz per contract equals 1,866700 oz 

or 58.062 tonnes

the comex is running out of physical gold to serve our good friends over in London

JANUARY  GAINED 29 contracts to stand at 1452

February gained 44677contacts up to 358,003

We had 6195 notice(s) filed today for 619,500oz 


Today, 0 notice(s) were issued from J.P.Morgan dealer account and  995  notices were issued from their client or customer account. The total of all issuance by all participants equate to   6195 contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and  2595 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 DEC. /2022. contract month, 

we take the total number of notices filed so far for the month (6195x 100 oz , to which we add the difference between the open interest for the front month of  (DEC. 18,667 CONTRACTS)  minus the number of notices served upon today 6195 x 100 oz per contract equals 1,866,700 OZ  OR 58.06TONNES the number of TONNES standing in this    active month of DEC. 

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

No of notices filed so far (6195 x 100 oz+   (18,667  OI for the front month minus the number of notices served upon today (6125} x 100 oz} which equals 1,8667,00 oz standing OR 58.-062TONNES in this  active delivery month of DEC..

TOTAL COMEX GOLD STANDING:  58.062 TONNES  (A POOR STANDING//COMEX RUNNING OUT OF PHYSICAL TO SERVE UPON OUR LONGS.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

we had one adjustment of 110,631.591 oz Brinks

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 o

total pledged gold:  1,951,105.234 OZ   60.68tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED:  23,429,510.113OZ  

TOTAL REGISTERED GOLD: 11,296,912.588OZ (351.38 tonnes)..dropping fast

TOTAL OF ALL ELIGIBLE GOLD: 12,219,628.276  OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,345,808OZ (REG GOLD- PLEDGED GOLD) 290.68tonnes//rapidly declining 

END

SILVER/COMEX

NOV 30//INITIAL DEC. SILVER CONTRACT

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory637,993.050oz
CNT’
JPMorgan
Manfra












 










 

Deposits to the Dealer Inventorynil OZ
Deposits to the Customer Inventory2,154,542.048oz
Brinks
JPMorgan
Manfra






 











 
No of oz served today (contracts)1815 CONTRACT(S)  
 (9,075,000OZ)
No of oz to be served (notices)2823 contracts 
(14,154,000 oz
Total monthly oz silver served (contracts)1815  contracts
 (9,075,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month


i)  0 dealer deposit

total dealer deposits:  nil   oz

i) We had 0 dealer withdrawal

total dealer withdrawals:  oz

We have 3 withdrawals out of the customer account

i)Out of CNT 100,497.660 oz

ii) Out of JPMorgan;  200,891.500 oz

iii) Out of Manfra:  336,604.790 oz

Total withdrawals: 637,993.050oz

JPMorgan has a total silver weight: 150.59million oz/296,022 million =50.67% of comex .//dropping fast

  Comex deposits:   3
i) Into Brinks  1,455,029.150 oz

ii0 Into JPMorgan; 397,526.688 oz

iii) Out of Manfra:  301,986.210 oz

total deposit 2,154,542.048 ozoz 

adjustments:  dealer to customer

i) Delaware  4714.860 oz

ii) Manfra:  167,092.310o9,204.790 oz

iii) Out of JPMorgan:  36

the silver comex is in stress!

TOTAL REGISTERED SILVER: 33.557MILLION OZ (declining rapidly)

TOTAL REG + ELIG. 297.538 MILLION OZ (also declining)

CALCULATION OF SILVER OZ STANDING FOR SEPT

silver open interest data:

FRONT MONTH OF DEC OI: 4648 CONTRACTS HAVING LOST 2656CONTRACT(S.) 

THUS BY DEFINITION THE INITIAL AMOUNT OF SILVER STANDING IN THIS ACTIVE MONTH OF DECEMBER IS AS FOLLOWS:

4648 contacts x 5,000 oz per contracts equals 23.24 million oz

also a very poor showing for what is considered the best delivery month of the year.

JANUARY SAW A GAIN OF 216 CONTRACTS UP TO 1885 CONTACTS.

.

 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY:1815 for  9,075,000 oz

Comex volumes:35,691// est. volume today// poor   

Comex volume: confirmed yesterday: 95,236 contracts (  huge)

To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 1815x  5,000 oz = 9.075,000 oz 

to which we add the difference between the open interest for the front month of DEC( 4648) and the number of notices served upon today 1815x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC./2022 contract month: 1815 (notices served so far) x 5000 oz + OI for front month of DEC (4628) – number of notices served upon today (1815)x 50070 oz of silver standing for the DEC. contract month equates 23.24 million oz. 

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

Comex volumes:49,371// est. volume today//    poor

Comex volume: confirmed yesterday: 101,267 contracts ( huge)

END

GLD AND SLV INVENTORY LEVELS

Nov 19

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  .

Why The Definition Of Inflation Matters

TUESDAY, NOV 29, 2022 – 09:20 PM

Authored by Michael Maharrey via SchiffGold.com,

When people talk about “inflation” today, they generally mean rising prices as measured by the Consumer Price Index (CPI). But historically, “inflation” was more precisely defined as an increase in the amount of money and credit causing advances in the price level. Inflation used to be understood as an increase in the money supply. Rising prices were a symptom of inflation.

I find this change in definition problematic. But many disagree with me. They argue that I’m being pedantic and the definition doesn’t really matter all that much.

In a social media exchange, I argued that rising oil prices due to the invasion of Ukraine weren’t technically “inflation” but are better described as price shocks. Price shocks do, in fact, raise prices. And those price increases can cascade through the economy. But unlike price increases due to an increase in the money supply, decreases in other areas of the economy will ultimately balance out price shocks (absent inflation) as people shift spending patterns. For example, if people are paying more for gasoline, they may cancel vacation plans. This drop in travel demand will cause hotel prices to fall.

In contrast, a rise in the money supply (inflation) will cause a general rise in prices with no corresponding price decreases.

“Joe,” a commenter on Facebook, disagreed.

You’re wrong. What you call ‘price shock’ is in fact inflation. The BULK of inflation is in fact Fed debasing the currency as you note. The inflation of prices is also a function of market forces that have nothing to do with the Fed. These pale in comparison to adding mega-trillions of dollars to the currency supply.”

If you read carefully, you’ll see that Joe simply substituted the current definition of inflation for the historical definition. He lumped price increases caused by Federal Reserve monetary expansion and price shocks together under one banner — inflation.

So, what’s the problem?

I can understand why people might think that this is nothing more than semantical nit-picking. After all, word meanings evolve over time. When I insisted on the classical definition of inflation, Joe argued that there was no reason to hold fast to archaic terms.

That you believe modern vernacular of the term includes things you think did not used to be in the term is meaningless. Why should I care about anachronistic uses of terms? I speak in the modern vernacular. I, for example, don’t speak in Elizabethan English so I’m not a KJV kind of guy. Likewise, I won’t insist on something from the 70s, because economic policy 50 years ago doesn’t mean a whole lot to me right now.”

The problem is that this change in definition creates confusion. And I believe that is precisely why government officials and the academics who support them have worked to change the common meaning of inflation.

Economist Ludwig von Mises warned about this shifting definition decades ago.  In his essay “Inflation: An Unworkable Fiscal Policy, Mises reiterated the precise definition of inflation.

Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check.”

Over the years, the government, along with its apologists in the corporate media and academia, altered the definition. Why? To suit government purposes. The standard definition of inflation bandied about today is nothing more than government propaganda.

Mises explains the problem with this change in definitions.

People today use the term `inflation’ to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages. There is no longer any word available to signify the phenomenon that has been, up to now, called inflation. . . . As you cannot talk about something that has no name, you cannot fight it. Those who pretend to fight inflation are in fact only fighting what is the inevitable consequence of inflation, rising prices. Their ventures are doomed to failure because they do not attack the root of the evil. They try to keep prices low while firmly committed to a policy of increasing the quantity of money that must necessarily make them soar. As long as this terminological confusion is not entirely wiped out, there cannot be any question of stopping inflation.”

In other words, the modern definition allows policymakers to shift the blame to other things while continuing their expansionary monetary policy.

Keep in mind, the Federal Reserve (and all global central banks) constantly inflate the money supply as a matter of policy. After all, the inflation “target” is 2%!

In fact, inflation is a stealth tax.

The inflation tax is the primary way the US government finances its deficit spending. The federal government spends billions of dollars every month, but it doesn’t collect enough taxes to cover its costs. That means it has to run deficits. The Federal Reserve monetizes those deficits. In effect, it prints money. They call it quantitative easing, but when you boil it all down, they’re just inflating the currency. As the money supply grows, prices rise and you feel the pain every time you go to the grocery store or the gas station. The government is getting bigger and bigger, and families across America are bearing that burden through higher prices.

The government loves the inflation tax because it never has to accept responsibility for levying that tax. It can blame it on all kinds of other factors like corporate greed, the pandemic, or “Putin’s price hikes” (i.e. oil price shocks).

This is especially true if you redefine inflation as simply “rising prices.” You lose the ability to parse out the impact of monetary policy.

If we use the traditional definition of inflation as an “expansion of the supply of money,” the culprit becomes clear. Who expands the supply of money? It’s the Fed and the federal government. So, if you accurately define inflation, you know exactly who’s to blame. But if the government can fool people into believing that one effect of inflation is inflation, they can blame it on everybody but themselves.

This is not to say price shocks and other factors don’t cause prices to rise. This is not to minimize the impacts of those price increases on our lives. The point is it’s important to distinguish inflation – an increase in the money supply causing a general rise in prices – from other factors driving prices higher. Without a precise definition, we lose our ability to talk about the phenomenon of rising prices and monetary expansion with any precision. And the government gets away with harmful policies.end

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

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

/4.  OTHER PHYSICAL SILVER/GOLD COMMENTARIES

5. Commodity commentaries//

6/CRYPTOCURRENCIES/BITCOIN ETC

Bahamas AG Says FTX ‘Debacle’ Not Their Fault

WEDNESDAY, NOV 30, 2022 – 01:45 AM

Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

Bahamas Attorney General Ryan Pinder took to the podium Sunday night to defend his country’s securities regulators against “inaccurate allegations” by the U.S.-based legal team, led by veteran work-out attorney John Ray III, that has taken over management of FTX in bankruptcy, following the cryptocurrency exchange’s abrupt collapse in early November.

“It is possible that the prospect of multimillion-dollar legal and consultancy fees is driving both their legal strategy and their intemperate statements,” Pinder alleged, adding that “any attempt to lay the entirety of this debacle at the feet of the Bahamas because FTX is headquartered here would be a gross oversimplification of reality.”

Ray is reportedly earning $1,300 per hour, with a $200,000 retainer, to lead the work-out effort. Other attorneys are reported to earn $975 per hour, with other technical and investigative consultants earning $50,000 per month. In addition, many of the original 350 FTX employees are being kept on the payroll in order to try to preserve for investors whatever value of the company remains, but according to Ray, even figuring out who all these employees are has been challenging.

Ray states in his bankruptcy declaration of Nov. 17 that because of poor record keeping by the company’s human resources department, bankruptcy attorneys “have been unable to prepare a complete list of who worked for the FTX Group as of the petition date or the terms of their employment. Repeated attempts to locate certain presumed employees to confirm their status have been unsuccessful to date.”

Founded by Sam Bankman-Fried in 2019, FTX was valued at $32 billion by 2021 and was the third-largest exchange for cryptocurrency in the world, with more than a million investors trading its version of digital currency, known as FTT. Bankman-Fried’s net worth at the height of the crypto market was believed to be $16 billion.

The crypto market has had a difficult year across the board, falling from a total global market capitalization of $3 trillion a year ago to around $800 billion today, with other crypto companies facing bankruptcy. But FTX had specific problems beyond the general market decline.

On Nov. 6, Binance, a rival exchange to FTX, abruptly sold off its $2 trillion holdings of FTT, which it acquired in connection with a prior stake in FTX. Binance CEO Changpeng Zhao noted in a tweet: “Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.”

Caroline Ellison, CEO of Alameda Research at the time, responded by tweet to Binance: “If you’re looking to minimize the market impact of your FTT sales, Alameda will happily buy it all from you today at $22!” But Alameda was unable to make good on this pledge, and the massive unloading of FTT sparked other investors to rush to sell the digital coin as its value collapsed, sparking a liquidity crisis at FTX.

According to Pinder, “FTX was experiencing the equivalent of a run on a bank, when customers are all rushing to withdraw all of their assets simultaneously.” Binance then offered to step in and acquire FTX, but quickly withdrew its offer once it got a look at FTX’s books, which Ray subsequently described as “a complete failure of corporate controls and a complete absence of trustworthy financial information.”

Liquidity issues, it now appears, were only the tip of the iceberg. To date, the investigation of FTX’s books indicates that money that investors put up to buy FTT crypto on the exchange was being passed from their exchange accounts to an affiliated hedge fund called Alameda Research. It was also being lent out to owners, used to buy houses in the Bahamas and elsewhere, donated to various progressive causes that Bankman-Fried supported, or paid out as political donations.

But the blame for regulators failing to notice any of this should not be placed solely on the Bahamas, Pinder said. Of the more than 100 subsidiaries and affiliates of FTX’s crypto empire, FTX Digital Markets is the only entity regulated in the Bahamas, according to Pinder. Alameda Research, the hedge fund affiliate of FTX, is registered in Delaware. According to Ray’s bankruptcy filing, however, other Alameda affiliate companies are registered in the Bahamas, as well as in Korea, Japan, the British Virgin Islands, Antigua, Hong Kong, Singapore, the Seychelles, the Cayman Islands, Australia, Panama, Turkey, and Nigeria.

‘Next Warren Buffet’

Numerous FTX subsidiaries are registered with the Securities and Exchange Commission (SEC), with some operating with licenses from the U.S. Commodity Futures Trading Commission (CFTC)—both U.S. regulators who were established to protect small investors and appear to have had no concerns about illicit activity at FTX prior to the bankruptcy filing. At the height of his success, Bankman-Fried was lauded on the cover of Forbes and Fortune Magazine, which referred to him as the “next Warren Buffet.”

He was praised for his support of progressive causes, which ranged from climate change to pandemic policy. Sam’s brother, Gabe Bankman-Fried, ran the advocacy group Guarding Against Pandemics, which sought to increase government efforts for pandemic prevention and to which Bankman-Fried donated millions.

Bankman-Fried had relationships and took meetings with prominent politicians and regulators, including SEC Chairman Gary Gensler, who seemingly also failed to notice anything amiss at FTX during a 45-minute phone call with Bankman-Fried. Bankman-Fried was the second-largest donor to the Democratic Party, after billionaire hedge-fund manager George Soros, and donated $10 million to Joe Biden’s presidential campaign. Of the tens of millions of dollars Bankman-Fried donated to political campaigns, $262,200 went to Republican candidates, while $40 million went to Democrats.

Pinder took no questions after his speech and did not address other open issues, including whether FTX founder and ex-CEO Sam Bankman-Fried would be extradited to the United States to face criminal charges or whether the global assets of the FTX empire would be consolidated from the various jurisdictions around the globe into the United States, as the bankruptcy team is attempting to do.

Bankman-Fried remains a headline speaker at the upcoming New York Times’ DealBook Summit, which also features BlackRock CEO Larry Fink, Secretary of the Treasury Janet Yellen, Meta CEO Mark Zuckerberg, actor Ben Affleck, and Ukrainian President Volodymyr Zelensky, among others. BlackRock was reportedly one of the investors in FTX.

A recent tweet from Bankman-Fried stated, “I’ll be speaking with [New York Times business columnist] Andrew Sorkin at the dealbook summit next Wednesday (11/30).”

The Times’ summit, billed as a gathering of “today’s most vital minds on a single stage,” identifies Bankman-Fried as “a 29-year-old American investor, entrepreneur, and philanthropist.”

“At this time, we expect Mr. Bankman-Fried will be participating in the interview from the Bahamas,” a spokesperson for the New York Times told The Epoch Times.

Bankman-Fried’s parents, both professors at Stanford University, are prominent supporters of the Democratic Party. His mother, Barbara Fried, is the founder of “Mind the Gap,” a secretive Silicon Valley fundraising organization for Democrat candidates. Mind the Gap has reportedly raised approximately $20 million from tech investors to support left-wing political campaigns.

‘A Very Complex Investigation’

In defense of Bahamian regulators, Pinder said that authorities in the Bahamas were the first in the world to act when trouble at FTX became apparent, and that there were “a number of protective measures” that were taken by the Bahamian Securities Commission on Nov. 10, including freezing FTX’s accounts, seizing FTX’s assets and putting FTX into provisional liquidation the day after rival crypto exchange Binance abruptly pulled out of a deal to acquire FTX.

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

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/COVID

“I’m Witnessing History In The Making”, Says Protester In Shanghai

WEDNESDAY, NOV 30, 2022 – 12:25 AM

Authored by Kelly Song via The Epoch Times (emphasis ours),

Protests demanding an end to COVID lockdowns broke out in the center of Shanghai on Sunday, following outrage over an apartment building fire in Urumqi, Xinjiang, that killed 10 people on Thursday.

Those who perished in the fire were trapped in their apartments under strict zero-COVID lockdown measures.

After the news of the fire spread via social media, hundreds of angry Shanghai residents gathered at central Wulumuqi Road, which is named after Urumqi, the capital of the Xinjiang region.

The Epoch Times spoke with one of the protesters, who used the pseudonym Zhengyi Dong, who took to the streets with her boyfriend on Sunday.

At Wulumuqi Road, Dong said she saw some protesters holding blank pieces of paper, some got into scuffles with police, some were beaten, and some were taken into police buses.

Dong described the scene as “shocking.”

“I was very moved. The people have been suppressed for too long. It was not fear. I felt that my blood was boiling,” she said.

Dong said there were at least 100 police at the location, and they had blocked off the road and taken down the road sign.

Videos online show protesters  chanting slogans such as “Down with the Chinese Communist Party” and “Remove Xi Jinping from office.”

Before Dong left the scene at around 8 pm, she saw at least three protesters arrested. Other protesters were shouting, “release them, release them,” but to no avail, she said.

There were other reports of protesters being arrested, with some being beaten, with one witness stating that he saw one female protestor being beaten by a dozen police, reported RFI.

Other protesters estimated several dozen people were arrested. The exact number of arrests cannot be confirmed.

BBC reported that one of its reporters was arrested when interviewing protesters. The reporter was released several hours later.

Dong’s parents live in Xinjiang, and her grandmother died during the pandemic.

She said she used to trust the Chinese Communist Party (CCP) and thought that China would improve and that the police were there to protect society.

After she saw the protest scene, she said she was shocked, “the people’s police were actually taking down the road signs and beating the people!”

This cannot solve the problem but exacerbate the issue. We will go to protest again,” Dong said.

Someone posted on social media a picture of the street sign Wulumuqi Road being taken down by police. Some suggested changing the road name to “Zero-COVID Road.”

Dong said that she is not easily swayed, adding that the protest had a legitimate reason—concern over the deadly fire in Urumqi.

I don’t know about other people, but no one told me to go there; I went there out of my own will,” Dong said.

“When we heard the news, we were outraged. At the time, nothing but the fire was discussed on WeChat, Tik Tok, or other platforms. But these platforms keep deleting the posts.”

She said, “I have had three accounts on WeChat banned.”

Dong said she felt that her blood was boiling at the protest—there was no fear but only astonishment.

“I felt that I was witnessing history in the making. I had goosebumps,” she said.

Read more here…

end

CHINA/COVID

Deja Vu All Over Again: China’s Auto Industry Is Once Again Shuttering Some Operations Due To Lockdowns

WEDNESDAY, NOV 30, 2022 – 06:05 AM

Just when the automobile industry thought it was out of the clutches of the Covid-induced supply chain SNAFU that had taken place over the last several years, it looks as though China’s strict Covid policy threatens to pull them back in again. 

“At least three major automakers” are once again shuttering production, according to a new report from Bloomberg this week. Honda has shut down operations in Wuhan for the time being due to “limitations around movement” in the area, the report says.

The company also suspended operations at a lawnmower engine plant in Chongqing.

Yamaha has also been hit by the new Covid lockdowns, partially suspending operations at a motorcycle plant in Chongqing. Bloomberg reports that 8,721 new COVID-19 cases were reported in the area on Monday this week. 

VW also halted production at a joint venture plant that it has with China FAW Group on Monday of this week, the report continues. Volkswagen is attributing the shutdown to a shortage of components. It has also shut down two of five production lines at its factory in Changchun and has no date for resuming operations.

Nissan, Mazda and Mitsubishi told Bloomberg that their operations had not been affected. 

Recall, just last week we published on how China’s Covid restrictions were actually tightening when the country’s market had assumed they were easing. 

We published:

“More than a week after Beijing fine-tuned its Covid Zero strategy, local governments are struggling to balance the need to control the pandemic while also limit the economic damage. Shijiazhuang, a closely-watched city that had experimented with a version of “living with the virus,” has reversed course, suspending schools and asking residents to stay at home for five days. As infections multiplied, subway rides in some big cities such as Beijing, Guangzhou and Chongqing have tumbled.

The result is that Goldman Sachs’s Effective Lockdown Index has increased in recent weeks, despite Beijing’s new order to reduce the need for mass testing and citywide shutdowns.”

endCHINA//COVID

Guangzhou Protesters Clash With Hazmat-Clad Riot Police Over Lockdowns

WEDNESDAY, NOV 30, 2022 – 04:30 PM

Protesters in the Chinese manufacturing city of Guangzhou clashed with hazmat suit-clad riot police Tuesday night, as anti-lockdown demonstrations escalated in the wake of protests in Shanghai, Beijing and other areas of the country.

In footage posted to social media, protesters in Haizhu district could be seen scuffling with security personnel, who were previously standing shoulder-to-shoulder under the cover of riot shields as the demonstrators threw objects at them.

The protests mark the largest wave of civil disobedience since the 1989 Tianamen protests.

Police were later seen on video escorting a row of people in handcuffs to an unknown location, Reuters reports, adding that they had authenticated the footage.

Another video clip showed people throwing objects at the police, while a third showed a tear gas canister landing in the middle of a small crowd on a narrow street, with people then running to escape the fumes.

Reuters verified that the videos were filmed in Guangzhou’s Haizhu district, the scene of COVID-related unrest two weeks ago, but could not determine when the clips were taken or the exact sequence of events and what sparked the clashes. -Reuters

According to the US-funded China Dissent Monitor operated by Freedom House, at least 27 demonstrations took place across China between Saturday and Monday, while Australia’s ASPI think tank estimated there were 43 protests in 22 cities.

In response to the protests, Guangzhou officials broke with the country’s zero-covid protocols and announced they will allow COVID-19 cases to quarantine at home instead of being forced to go to quarantine camps, such as the one below.

Meanwhile in Zhengzhou, home to a large iPhone factory that has seen mass protests, officials announced the “orderly” resumption of daily life, including opening up supermarkets, gyms and restaurants. That said, they also published a list of buildings which would remain under lockdown, according to the report.

Hours before those announcements, national health officials said on Tuesday that China would respond to “urgent concerns” raised by the public and that COVID rules should be implemented more flexibly, according to each region’s conditions.

But while the easing of some measures appears to be an attempt to appease the public, authorities have also begun to seek out those who have been at recent protests. -Reuters

“Police came to my front door to ask me about it all and get me to complete a written record,” said one Beijing resident in a statement to the outlet. Another resident said that friends who had posted videos of the protests to social media were taken to a police station and made to sign a promise that they “would not do that again.”

Infiltration and sabotage?

In a late Tuesday statement that did not refer to the protests, the CCP’s top body in charge of law enforcement agencies said they would crack down on “the infiltration and sabotage activities of hostile forces,” suggesting that the protests were not organic (were they?).

According to the Central Political and Legal Affairs Commission, “illegal and criminal acts that disrupt social order” will not be tolerated, while the foreign ministry has said that rights and freedoms must be exercised within the law.

 end

.E4.EUROPEAN AFFAIRS//UK AFFAIRS//

Meloni Vs Macron – The Colonial End Game

WEDNESDAY, NOV 30, 2022 – 09:00 AM

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

Sometimes the internet being eternal works to our advantage. Recently, there’s been a dustup in European politics over a three-year old video of now Italian Prime Minister Giorgia Meloni stepping on the third rail of European politics.

In that video she openly explained that colonialism in Europe isn’t over and she tied it to African immigration into Europe, which Italy has born the brunt of thanks to the EU’s rules which force countries to accept anyone that shows up on their shores.

The mechanism for France’s dirty colonial secret is they still control fourteen West African nations through a French colonial currency (CFA Franc) issued by France.

Now, since Meloni’s rant, the CFA Franc has been slightly revised but the real source of its power over West Africa was not, more on this later.

What’s important is that this video has all of a sudden resurfaced at a time when Italy and France are involved in a major row over France’s (and Davos’) latest attempt to paint Meloni as some heartless Fascist for denying a French NGO boatload of migrants from North Africa into Italy.

The boat eventually wound up having to go to France as Meloni stuck to her guns. Remember, folks it was then Interior Minister Matteo Salvini who first tried to defy Davos on this and his reward was to be sued in Sicilian court over ‘human rights abuses.’ This began Salvini’s fall from political power in Rome as he didn’t have enough support from his then coalition partner, Five Star Movement (M5S).

Eventually, Salvini was forced out of power, M5S cut a deal with the Rome Mafia to betray its supporters and the rise of Meloni and the Brothers of Italy (FdI) was inevitable.

The lame attempt by France to attack Meloni on immigration was met with a much different result this time as she enjoys a far stronger political position than Salvini did in 2017-18. So, the boat went to France and all the French could do was fulminate about it.

Enemy at the NGO Gates

In fact, the French Foreign Minister Gérald Darmanin went so far as to call Italy France’s enemy over this issue. This level of histrionics over less than 250 migrants is both so predictably French and overblown it borders on the comical.

So much for European solidarity, I guess.

But it’s all part of the silly Davos PR campaign against Meloni. Nothing changes with these people. They have a pathological need to win every single little battle, because as psychopaths they know any sign of weakness is an invitation to the gallows as people see them for what they are.

As always, the timing on this video of Meloni coming out is interesting. It’s a clear counterattack on France’s theatrics.

My question, as always, is who did this? Obviously Meloni’s people are part of this but does it imply she has some other support?

Stick with me, because I have a theory on this.

Ultimately, this dustup fully highlights the mendacity and, frankly, evil of the former colonial powers of Europe.

The CFA Franc was something that you ‘just didn’t talk about’ as France continued to extract wealth from West Africa through monetary expropriation.

The very idea that the vestiges of colonialism are on the wane in Europe is not only fundamentally false it is intrinsically woven into the fabric of the EU itself in every way. The CFA Franc should be an anachronism, but France holds onto for its benefit, subsidizing its ridiculous government and failing social institutions.

Among first world nations France has the highest effective tax rate for upper income earners.  And yet, they still can’t keep things running effectively and have to extract wealth from north Africa.

How brutally inefficient and sickly is a French economy that derives nearly 50% of its electricity from a mostly-homegrown nuclear industry and has levels of taxation that make even a nineteenth-century slaveowner blush that it still needs to operate a colonial wealth extraction system in West Africa in the 21st century?

But it’s also a microcosm of the euro itself and even the corruption of the US dollar through national control over interest rates thanks to a monolithic central bank.

Like many of you, I had no idea the CFA Franc even existed and I’m still wrapping my head around the idea that in 2022 fourteen countries do not have monetary sovereignty, serfs to a feudal lord on a separate continent.

Again, just when I thought I’d plumbed the depths of Eurotrash globalist depravity, they make me look naïve.

But what’s been very clear is that the CFA Franc has been a no-go in international and inter-European political discussions for decades…. and someone close to Meloni just made it a global issue.

So much so, that no less than Le Monde had to put out a fire suppressor article.  It’s a laughably poor piece of apologia.  It’s a typical piece of ‘word parsing’ that picks out specific little exaggerations to discredit Meloni as stupid and uninformed while avoiding the basic problems of France running a wealth vacuum in 14 of the poorest countries in Africa.

Le Monde quickly switches to the ‘migrant’ issue to ‘debunk’ Meloni’s claims about African immigration as a result of the CFA Franc.  Sure the country of origin of most migrants are from countries on the shore of the Mediterranean, but where did they come from in the first place?

It’s like saying Hondurans who cross into the US from Mexico aren’t Hondurans and that policy in Honduras didn’t contribute to the migration. But, this is really a side issue. Meloni is fundamentally right that the CFA Franc keeps these countries poor through currency arbitrage and contributes directly to North Africa’s instability and lack of economic progress.

To think that doesn’t have spillover effects into Algeria, Morocco or anywhere else along the southern Mediterranean is simply laughable.

It’s the Currency, Stupid!!

The key to understanding the evil of the CFA Franc is no different than understanding the evil of the euro or the Fed Funds Rate. It’s mercantilism through currency arbitrage.

The CFA Franc is not just pegged to the euro (formerly the French Franc) it is also tied to the ECB’s monetary policy debt rate.  This is the part no one, especially the writer at Le Monde, wants to touch.  

So, as Le Monde states there are the two central banks in Africa that issue the two different CFA Francs. What they fail to state is that both currencies are still pegged to the euro, making local monetary policy a joke. France and the ECB still control their economies.

The ECB’s monetary policy is set by Germany for Germany’s benefit.  Having (up until now) the strongest economy in the EU, Germany gets an effective benefit from the euro trading at a single exchange rate.

If the euro were to collapse and the Deutschmark returned, it would rise dramatically versus the previous euro exchange rate. For Italy, the return of the lira would see it fall.

This is simply the value add/deficit of the labor in the aggregate of the country, represented by the exchange rate through the discounting mechanism.  

This is why the euro and the EU are nothing more than colonialist systems designed to do exactly what they have done, impoverish the European periphery, which includes Italy, and concentrate capital in the center, in Brussels’ political power.

As much as I’ve used the Hunger Games to describe the US, it is even more apropos for the EU.

California and New York have used the singular Fed Funds Rate in the same way Germany has used the euro to dominate US electoral politics, ensuring that for decades their populations stayed high, the capital flowed to them, trapping people there and grinding them out between the twin millstones of inflation and taxation, just like Lenin described.

So, now applying that same model to France and it’s former colonies, does anyone believe that the labor efficiency of the Ivory Coast is the same as Germany?  or even France?

Of course not. But that’s the situation for these countries. France is running the same mercantilist scam of any colonial power by keeping the home country’s currency weaker than it should be in exchange for real goods from abroad.

But we see this effect in the reverse from the colony’s perspective. By setting a peg for the CFA Franc, it is always stronger than it should be if allowed to float. Even if initially set weaker than it should be to attract capital, eventually the exchange rate will become an albatross around the colony’s neck, strangling economic growth while all the wealth is extracted back to the homeland, thanks to the ECB’s monetary policy.

While the CFA Franc was reformed slightly under Macron, the essential link between France’s banking system and these colonies remains key, using the ECB’s ruinous monetary policy to take the profit and leave misery behind. 

Now, the good news is that mercantilism only works for so long before the currency mismatches become so great that the whole scheme has to collapse. It is, after all just another Ponzi Scheme.

In the case of France and Germany running their wealth extraction system across not just the 17 other countries of the euro-zone but 14 African countries as well, we’re reaching that breaking point.

Pres. Macron Tear Down This Peg!

Italy needs to be let loose from the euro. The populists and everyone not on Herr Schwab’s payroll understand this. Davos will blow up the world before letting that happen.

Meloni knows this. And she also knows that France has real designs on annexing parts of northern Italy and will fight very dirty to win here.

Macron tried to marginalize her on immigration, tugging on heart strings about denying migrants. She stood her ground, forced France to take the boats and when France tried to publicly shame her, she trotted out the CFA Franc and put that issue right to bed.

But here’s the fun part. She just put out her budget proposal for the EU’s consideration. It’s a very crafty proposal, skirting the edges of the rules set out by the EU, violating the spirit of the rules while not actually violating many of them. See this article from Reuters on rescinding the limits of cash use.

Martin Armstrong has a quick overview of the budget where he pulls out some of the salient points (from his perspective).  His takeaway is that Meloni is putting real limits on Italy’s welfare state.  

So, this is how she can play the game of not radically increasing spending. She’ll increase spending to subsidize rising energy costs clearly imposed on Italy by Germany and Brussels through ruinous sanctions on Russian energy as a stop gap measure. Sound familiar? Because this is what cost Liz Truss her job in the UK.

But she is also reforming the entitlement system for the long term which will keep the overall budget deficit which will call Brussels’ bluff on whether they will maintain support of Italy’s bond market.

We know this is a bluff otherwise ECB President Christine Lagarde wouldn’t have created the Transmission Protection Instrument to maintain internal credit spreads at the July meeting.

She knew this day was coming the minute Mario Draghi walked away from his post as Prime Minister. The TPI was announced the next day.

It looks like, at first glance, that Meloni’s found a way to circumvent being forced to implement “German Austerity” — raising taxes and cutting spending to protect bondholders — by cutting long-term entitlement spending while at the same time cutting taxes where they are needed most.

If there is a budget proposal that could mollify credit markets over Italy’s fiscal situation it would look something like this. It puts the EU on their back foot in budget talks. Because this plan could actually work.

Part of the budget plans includes slashing taxes for the self-employed by extending the 15% single tax rate from an annual income of €65,000 to €85,000, slashing VAT on certain essential goods by half, and conditionally reducing the retirement age to 62, provided that individuals have paid in at least 41 years of contributions.

What’s funny about this is that this budget, which explicitly breaks the EU’s cap of a 3% of GDP budget deficit, pushing it to 4.5% thanks to energy subsidies to families, is being hailed by the European press as “More EU Friendly than expected.”

What were they expecting, for Meloni to introduce miniBOTs and a new domestic currency like Salvini talked about in 2018?  

No, this is clearly messaging that states Brussels isn’t in the position to fight her because she holds all the cards in the negotiations.  Remember, $640+ billion in TARGET2 liabilities are the Bundesbank’s problem, not Italy’s.

Having exposed France to the world over the CFA Franc and understanding exactly how vulnerable the ECB and the EU Commission actually are in the Eurodollar markets, Meloni has pushed Italy into a good position to begin reversing the colonial extraction system of the EU itself.

A quick look at the polls in Italy has her riding a big lead at 30% support and moving higher.  If she gets this budget past the EU Commission, that number will instantly jump to 40% or higher.  The worry that Salvini and Berlusconi will betray her then drop precipitously. 

The Ring Heads South

Remember, lurking in the background of all of this is Wall St., the Fed and patriots in the US military.

This is who I think is helping Meloni stand firm here. The Fed’s aggressive policy stance has the Eurodollar markets teetering and Lagarde is no longer talking about QEternity but QT and higher rates, albeit very grudgingly.

If the price cap on Russian oil fails and Ursula Von der Leyen cannot ride herd on a 9th sanctions package, then Italy will quickly move into the driver’s seat on energy imports into Europe.

Wall St. understands this. And with a grateful Meloni in Rome realigning EU policy or forcing a breakup it also paves the way for a new cycle of energy investment now beyond desperately needed.

Who wants in on that action? Well, pretty much everyone, especially Wall St.

Meloni just told France’s African colonies to stand up and follow Burkina Faso’s lead.  With countries like Algeria, Egypt and Morocco all looking to join the BRICS alliance, the end of France’s colonial control over North Africa could end very quickly and Italy then has massive leverage on the EU to turn back on the sanctioned energy supplies.

This is a fight for all the EU marbles folks, and Meloni, I believe knows this.  So, she’ll play the dutiful game of supporting Ukraine publicly.  But, there’s almost nothing Italy can do practically to do that. It’s an empty promise.  They have no money, no domestic military to speak of… what is that promise actually worth?

No, France and Germany, the mercantilist powerhouses, are the ones that have to foot this Ukraine bill. Meloni and Italy are happy to support them bankrupting themselves while she lays the groundwork for increasing Italy’s leverage over them.

The Fed is doing its job by forcing the euro down, bond yields up and taking options away from Christine Lagarde.  

You beat colonialists by taking away their money printing machine. It’s that simple.

*  *  *

Join my Patreon if you don’t want to be colonized5.TURKEY?SYRIA?KURDS

end

5.//UKRAINE/RUSSIA

Russia Uses Electronic Warfare Jamming To bring Down Ukraine Drone Warfare – YouTube

obert Hryniak2:00 AM (6 hours ago)
to

Very cool weapon against drones.
What is the next step not shown is the ability to direct the drone … being able to send it back to the operator means a drone with a bomb can be returned to the sender.. think about that..

END

IRAN

US paralyzed by Islamic Republic of Iran’s strategic swing

Robert Hryniak11:13 PM (32 minutes ago)
to



Read this carefully as IRAN is doing what it should be doing becoming part of the SCO and at some point the BRICS 

Clearly it is turning its’ economy to Eurasia. This is another brick in wall of American lost hegemony in the region, as the Middle East is and has turned away. 

It will not be just one nation that makes the difference but the  combined weight of all participants which causes hegemony to shift weakening the relevance of the West. And this will impact western standards of living as a result as much as influence. 

At some point even Ukraine will become what it has historically been a border between east and west. By 2025 the world will look very different. 

Pepe Escobarposted on PressTV 

Iran’s parliament has just approved the accession of the Islamic Republic to the Shanghai Cooperation Organization (SCO), previously enshrined at the Samarkand summit last September, marking the culmination of a process that lasted no less than 15 years.

Iran has already applied to become a member of the expanding BRICS+, which before 2025 will be inevitably configured as the alternative Global South G20 that really matters.

Iran is already part of the Quad that really matters – alongside BRICS members Russia, China and India. Iran is deepening its strategic partnership with both China and Russia and increasing bilateral cooperation with India.

Iran is a key Chinese partner in the New Silk Roads, or Belt and Road Initiative (BRI). It is set to clinch a free trade agreement with the Eurasia Economic Union (EAEU) and is a key node of the International North-South Transportation Corridor (INSTC), alongside Russia and India.

All of the above configures the lightning-fast emergence of the Islamic Republic of Iran as a West Asia and Eurasia big power, with vast reach across the Global South.

That has left the whole set of imperial “policies” towards Tehran lying in the dust.

So it’s no wonder that previously accumulated strands of Iranophobia – fed by the Empire over four decades — have recently metastasized into yet another color revolution offensive, fully supported and disseminated by Anglo-American media.

The playbook is always the same. Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei actually came up with a concise definition. The problem is not bands of oblivious rioters and/or mercenaries:  “the main confrontation”, he said, is with “global hegemony.”

Ayatollah Khamenei was somewhat echoed by American intellectual and author Noam Chomsky, who has remarked how an array of US sanctions over four decades have severely harmed the Iranian economy and “caused enormous suffering.”

Using Kurds as expendable assets

The latest color revolution overdrive overlaps with the manipulation of Kurds in both Syria and Iraq. From the imperial perspective, the proxy war in Syria, which is far from over, not only works as an additional front in the fight against Russia but also allows the instrumentalization of highly dependent Kurds against both Iran and Turkey.

Iran is currently being attacked according to a perverse variation of the scheme applied to Syria in 2011. A sort of “permanent protest” situation has been imposed across vast swathes of northwestern Iran.

What changed in mid-November is that armed gangs started to apply terrorist tactics in several towns close to the Iraqi border, and were even believed to be weaponized enough to take control of some of the towns.

Tehran inevitably had to send IRGC troops to contain the situation and beef up border security. They engaged in operations similar to what has been done before in Dara’a, in the Syrian southwest.

This military intervention was effective. But in a few latitudes, terror gangs continue to attack government infrastructure and even civilian property. The key fact is that Tehran prefers not to repress these unruly demonstrations using deadly force.

The really critical issue is not the protests per se: it’s the transfer of weapons by the Kurds from Iraq to Iran to bolster the color revolution scenario.

Tehran has issued a de facto ultimatum to Baghdad: get your act together with the Kurds, and make them understand the red lines.

As it stands, Iran is massively employing Fateh ballistic missiles and Shahed-131 and Shahed-136 kamikaze drones against selected Kurdish terrorist bases in northern Iraq.

It’s debatable whether that will be enough to control the situation. What is clear is that the “Kurdish card”, if not tamed, could be easily played by the usual suspects in other Iranian provinces, considering the solid financial, military and informational support offered by Iraqi Kurds to Iranian Kurds.

Turkey is facing a relatively similar problem with the Syrian Kurds instrumentalized by the US.

In northern Syria, they are mostly armed gangs posing as “Kurds”. So it’s quite possible that these Kurdish armed gangs, essentially played by Washington as useful idiots, may end up being decimated, simultaneously, in the short to medium term, by both Ankara and Tehran.

If all fails, pray for regime change

A geopolitical game-changer which was unthinkable until recently may soon be on the cards: a high-level meeting between Turkish President Recep Erdogan and his Syrian counterpart Bashar al-Assad (remember the decade-long refrain “Assad must go”?) in Russia, with mediation by none other than Russian president Vladimir Putin.

What would it take for Kurds to understand no state – be it Iran, Syria or Turkey – will offer them land for their own nation? Parameters could eventually change in case Iraqis in Baghdad finally manage to expel the US.

Before we get there, the fact is Iran has already turned West Asian geopolitics upside down – via its smart cruise missiles, extremely effective kamikaze drones, electronic warfare and even state-of-the-art hypersonic missiles.

Empire “planners” never saw this coming: a Russia-Iran strategic partnership that not only makes total sense geo-economically, but is also a military force multiplier.

Moreover, that is inscribed in the looming Big Picture on which the expanded BRICS+ is focusing: Eurasia (and beyond) integration via multimodal economic corridors such as the INTSC, pipelines and high-speed rail.

The Empire’s Plan A, on Iran, was a mere nuclear deal (JCPOA), devised by the Barack Obama administration as nothing but a crude containment scheme.

Trump actually blew it all up – and there’s nothing left: a JCPOA revival, which has been – in theory – attempted for months in Vienna, was always a non-starter because the Americans themselves don’t know anymore what they want from it.

So what’s left as Plan B for the Straussian neocon/neoliberal psychos in charge of US foreign policy is to hurl all manner of fall guys – from Kurds to the toxic MEK – into the Iran cauldron and, amplified 24/7 by hysterical mainstream media, pray for regime change.

Well, that’s not going to happen. Tehran just needs to wait, exercise restraint, and observe how so much color revolution virtue signaling will eventually fizzle out.

6. GLOBAL ISSUES//COVID ISSUES//VACCINE ISSUES.

Vaccine//Covid issues: Injuries

Finally, Mainstream media is getting it right:  vaccine shots have a negative efficacy due to immunity blockage

(zerohedge)

Negative Efficacy’ Should Have Stopped COVID Vaccine Recommendations In Their Tracks

WEDNESDAY, NOV 30, 2022 – 07:05 AM

Authored by Dr. Sean Lin and Mingjia Jacky Guan via The Epoch Times (emphasis ours),

Recently, various health agencies around the world have approved and are actively pushing for another COVID booster shot, meant to enhance the vaccine efficacy against a COVD-19 infection.

However, many studies have found that the boosters do not make a significant  difference in protection, especially in terms of protection against reinfection. In fact, the latest data shows vaccine efficacy against the coronavirus tends to even drop into the negatives after just a few months.

What Does Negative Efficacy Mean?

It is a well known fact that COVID vaccine effectiveness wanes quickly as time goes on; this is confirmed by countless studies.

Although the official narrative for COVID-19 vaccines nowadays only emphasizes its efficacy on protection against ICU admission and death rates, it actually implies the indisputable fact that vaccines don’t protect, contrary to their design, against infection or even symptomatic infection, especially after the emergence of various Omicron variants.

Even the protection two shots offers against hospitalization drops to about 40 percent after less than a year. It’s actually looking worse for protection against severe symptoms, as efficacy rates seem to drop into the negatives about five months into full vaccination.

When a vaccine’s efficacy drops into the negatives, it means that vaccination actually elevates the risks of hospitalization and severe diseases rather than reducing the risks. In simple terms, it does more harm than good when the efficacy is negative.

During the time prior to the pandemic, any vaccine with an efficacy less than 50 percent would be regarded as a poor product.  When a product shows negative efficacy, it should be banned. It seems that the pandemic isn’t only bad for our health, but also is tugging at our common sense.

COVID Vaccines’ Declining Usefulness

It has been around three years since the first COVID-19 case was discovered in Wuhan, China. Since then, more than 600 million cases of the virus have been recorded, translating into a little less than 1 in 10 people around the world already being infected with the virus. In many countries, “living with COVID” has become the norm, along with getting “fully vaccinated” and getting those booster shots.

According to the Centers for Disease Control and Prevention (CDC), it is recommended that everyone 6 months and older should receive a full vaccination and everyone 5 years and older should receive a booster shot. Booster shots are recommended as they “are an important part of protecting yourself from getting seriously ill or dying from COVID-19” according to the CDC.

However, emerging data paints a different picture.

At its crux, the vaccines were developed with the earlier strains of the coronavirus, meaning developers primarily used the original Wuhan strain in their testing. The Delta strain that came along was particularly infamous as it was known to have a high death rate, but vaccines fared quite well against it. The results, however, went south as time went on and as the Omicron strain rolled out.

Trying to Outrun Nature

Making its debut in South Africa, the Omicron strain started to dominate the world by the beginning of 2022, which caused even more turmoil in terms of vaccine efficacy. The most shocking result is the extent it dragged down the vaccine’s efficacy against infection. Data shows that the vaccine used to be around 90 percent effective for weeks on end after vaccination.

After Omicron came along, infection prevention dropped to less than 50 percent after about a month after two shots and dived into the negatives four months later. It doesn’t seem to stop after that.

This clearly suggests that the COVID-19 vaccination campaigns should’ve been suspended as soon as the Omicron variant began to dominate over Delta.

In a study which analyzed COVID-19 cases from the beginning of this year in children that were previously infected, it was discovered that vaccine effectiveness wasn’t keeping up with pre-Omicron levels. The effects of a full vaccination against a second infection drops into the negatives within a few months, and it seems that the earlier one got the vaccination, the more likely it would lose its efficacy during the omicron waves.

The results from a September 2022 British Medical Journal study highlights again the fact that vaccine potency drops rapidly with time. It concluded that protection against severe symptoms drops well below half within a few weeks of administering the full two doses, or even after a third dose is administered. It also showed that in the immunocompromised, two doses never had an efficacy rate against hospitalization over 50 percent. Things do look a little better for three doses, but not by much.

Another study published data on the efficacy of the third dose relative to primary doses and found that the mean efficacy of three doses of the Moderna vaccine against the Omicron variants are, in fact, below 0.

It is interesting to note a logical assumption made by many, which is that the more you take the vaccine the better prepared you are against the virus, isn’t necessarily true.

Data published shows that neutralizing antibody count doesn’t necessarily correlate with the number of doses.

They found that people who took the fourth dose sometimes had higher, but mostly lower, antibody concentrations in the body compared with those who took the third dose.

Also, the hazard ratio calculated by researchers for the third and fourth vaccine doses provide us with mixed results. Sometimes, it seems like a good option to stick with the third dose, as the hazard ratio actually rises for taking the second booster compared with the first one.

One possible reason vaccine data is going downhill after Omicron appeared is that the new variant had a lot of changes in its spike protein composition.

This changes the way the virus enters the body and allows it to better “bypass” the security system set up by the old vaccines, which were developed from the very first SARS-CoV-2 Wuhan strain. One can understand it as if the variants have new toys to play with the old security guards.

Another potential mechanism that leads to the significant decline of vaccine efficacy is that repeated vaccination also damages people’s immunity via immune imprinting, a phenomenon in which an initial exposure to a virus–such as the original strain of SARS-CoV-2, by infection or vaccination–limits a person’s future immune response against variants.

Meanwhile, there are numerous underlying factors that would contribute to the disease’s progression from mild to severe, or even into fatal stages. Even if the vaccination groups during clinical trials were carefully chosen to have similar comorbid medical conditions as the control or unvaccinated group, there are still many other unknown factors that would dictate the outcome of the disease progression.

It is inconceivable and overtly overambitious that any pharmaceutical company would aim so high to design a vaccine which can protect against severe diseases from the onset of research, especially since the resulting vaccine can’t seem to keep up with preventing infection in the first place.

If a vaccine reaches negative efficacy, it means that people have higher chances to get infected than if you didn’t get the shot in the first place, meaning that not getting vaccinated might just reduce the chance of infection, unwanted symptoms, and severe disease. This is not just a vaccine failure or breakthrough infection issue, but a good time to halt COVID vaccines for good. Humans will never win in this cat-and-mouse game against nature.

Are Previous Infections Still Protective?

As time goes on, the likelihood of reinfection is quite high. Studies do show that in reinfected people the chances of death, hospitalization, and some form of sequela is much higher in those infected for the first time. It also seems like a logical conclusion for the CDC to recommend that everyone gets vaccinated.

However, the data we have is rather conflicting as the aforementioned study doesn’t show much of a difference between the unvaccinated, the half vaccinated, or the fully vaccinated. They all have just about the same values for cardiovascular, thrombotic, renal, or pulmonary sequelae post infection, or chances of getting a tough COVID-19 infection in the first place.

Data also shows that previously infected and unvaccinated children were better at preventing a second infection compared with children who were in the same age category but who were vaccinated. Generally speaking, vaccine induced immunity doesn’t seem to be quite as effective as that induced by a previous, natural infection.

What this essentially means is that the vaccines cannot keep up with the constantly emerging variants and that a waning efficacy was frankly inevitable. The only question left is, what is the driving force behind the Omicron variants, or SARS-CoV-2 variants on a broad scale? What accounts for variants emerging at the same time around the world?

Microevolution cannot explain everything.

Over the past 3 years, scientists have applied the theory of evolution to describe and explain the trajectory of SARS-CoV-2. Delta was the deadly variant and now Omicron is the road runner. In theory, the virus developed these strains to best adapt to the objective environment, yet scientists are still looking for more answers.

For example, when much of the world’s population was in different degrees of “lockdown” or restriction of movements, when international travel was severely impaired, how did the Alpha and Delta variants emerge and quickly spread widely, and even become dominant globally?

If the only factor that determines which variant to become dominant or not was its fitness, i.e., its transmissibility and replication efficiency, why were there not multiple variants with better fitness that emerged and all became dominant regionally, just like how divergent strains of flowers blossom at the same time in distinct locations? Why does it appear as if there is a coordinating force behind the virus such that one strain was able to uniformly retire the previous one?

In order to answer all these questions, I believe that there needs to be a more holistic evaluation of the current pandemic. At the same time, it’s important to note that viruses adapt to the vaccines, and not the other way around.

Read more here…

end

VACCINE IMPACT

Your Government Wants to Sacrifice American Lives to Boost COVID-19 Vaccine Sales Before the End of 2022

November 29, 2022 3:53 pm

With vaccination rates for the new Bivalent COVID-19 shots reportedly declining, the U.S. Government has decided to spend $475 million in an effort to inject as many Americans as possible with these deadly new COVID shots before the end of the year. The U.S. Government and local health departments are clearly LYING to the American people, when they state that these COVID-19 shots are “safe and effective.” Since the new Bivalent COVID-19 booster shots by Pfizer and Moderna were given emergency use authorization (EUA) at the beginning of September, less than 3 months ago, the U.S. Vaccine Adverse Events Reporting System (VAERS) has recorded almost 10,000 adverse events including 80 deaths following these new shots that were just recently authorized, and that the Government is trying to inject into more people. The total amount of recorded adverse events from all EUA COVID vaccines since they were first authorized in December of 2020, is now 1,467,781, with 32,370 deaths. These are more injuries and more deaths than the total injuries and deaths recorded for the previous 30+ years in VAERS from ALL FDA-approved vaccines COMBINED! What is especially troubling about the Government’s new massive spending campaign to inject as many people as possible with these deadly shots, is that they are targeting children, and encouraging parents to inject their children with not only these new Bivalent COVID booster shots, but TOGETHER with a flu shot and all recommended childhood vaccines on the CDC schedule. These local health departments have a huge financial incentive to stick needles in people’s arms, because they get kickbacks from the Federal Government. 1,018 children have already been harmed by the new Bivalent booster shots, with many of them passing out and losing consciousness right after being injected, according to official government statistics. Are parents aware of this before deciding to get these shots for their children? Here are some examples from the U.S. Government’s VAERS database.

Read More..

.DR PAUL ALEXANDER

KA-BOOM!; Iatrogenesis (deaths by the system, NOT the virus) in England & Wales; COVID policies & genetic vaccination are responsible for ALL the excess deaths (Dead Man Talking, Joel Smalley); what??

It is & was NEVER the virus, it was a ‘normal’ illness, would have taken some ‘low-hanging fruit’ elderly (like cold & flu); it was system i) diamorphine ii)midazolam iii)Remdesivir iv) ventilators

DR. PAUL ALEXANDERNOV 29
 
SAVE▷  LISTEN
 

We argue that without any government intervention, with nothing, had our governments done nothing, just strongly protect the elderly and vulnerable and allow the rest of the low-risk healthy population to live unfettered normal lives taking reasonable precautions (no lockdowns, no school closures, nothing), that COVID is and was just a regular influenza-like illness. I have ben arguing and stood on Yeadon’s shoulders who was IMO right, with this always being an influenza like illness (ILI) that we ‘detected’ using the fraud PCR test (over-cycled and over sensitive with cycle counts above 25, setting it at 40 knowing 95% of positives would be false-positive) and we used this to damage Trump. Other malevolent players (like Pfizer and Moderna) had hands in this too, using this fraud pandemic, but the real loser was POTUS Trump. And we the people for the ILI did take some people, but we lost most lives due to lockdown lunacy and above all, lost our liberties and freedoms enroute.

It was never this low-risk pathogen or whatever it was, it was what they did, how they responded or had planned to respond, that killed us.

Yes, it was our:

VACCINE INJURY/SLAY NEWS

The latest reports from Slay News
Dutch Government to Seize 3,000 Farms to Comply with ‘Climate Change’ GoalsThe Dutch government is planning to seize and shut down 3,000 farms across the Netherlands in order to comply with the European Union’s “climate change” goals.READ MORE
DeSantis Warns Apple: Removing Twitter from App Store Will ‘Merit a Response from U.S Congress’Florida’s Republican Governor Ron DeSantis has warned Apple CEO Tim Cook that removing Twitter from the tech giant’s App Store with lead to dire consequences.READ MORE
Flight Attendant Dies Suddenly of Heart Attack Mid-FlightA flight attendant has died suddenly after suffering an unexpected heart attack mid-flight, according to reports.READ MORE
Tomi Lahren: ‘Left Is Terrified’ of Musk’s Promise to Release Twitter’s Free Speech Suppression FilesTomi Lahren has said the “Left is terrified” of Elon Musk’s promise to release Twitter’s free speech suppression files.READ MORE

MICHAEL EVERY/RABOBANK

Michael Every on the day’s most important events:

END

7.OIL ISSUES/USA AND THE WORLD/NATURAL GAS/DIESEL ETC

8 EMERGING MARKET& AUSTRALIA ISSUES & OTHER EMERGING NATIONS

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

Euro/USA 1.0382 UP    0.0021 /EUROPE BOURSES // ALL GREEN

USA/ YEN 139.99  DOWN  0.434/NOW TARGETS INTEREST RATE AT .25% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN TOTALLY COLLAPSES//

GBP/USA 1.1921 UP   0.0064

 Last night Shanghai COMPOSITE CLOSED DOWN 18.19 PTS OR 0.58% 

 Hang Sang CLOSED DOWN 53.12 POINTS OR  0.29% 

AUSTRALIA CLOSED UP 0.21%    // EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES  ALL GREEN

2/ CHINESE BOURSES / :Hang SANG CLOSED DOWN 53,12 PTS OR 0.29%

/SHANGHAI CLOSED DOWN 18.19 PTS OR 0.58%

AUSTRALIA BOURSE CLOSED UP  0.21% 

(Nikkei (Japan) CLOSED DOWN 30.18 OR  0.11%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 1764.20

silver:$21.21

USA dollar index early MONDAY morning: 106.36 DOWN.23 POINTS from FRIDAY’s close.

 MONDAY  MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 1: 00 PM

Portuguese 10 year bond yield: 2.94% DOWN 20  in basis point(s) yield

JAPANESE BOND YIELD: +0.243% UP 0 AND 3710   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.03%// DOWN 17 in basis points yield 

ITALIAN 10 YR BOND YIELD 3.888 UP 13   points in basis points yield ./ THE ECB IS QE ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: FALLS TO +2.017%  DOWN 13 BASIS PTS 

END

IMPORTANT CURRENCY CLOSES FOR MONDAY  

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

Euro/USA 1.0319 DOWN   .0042  or 42 basis points//

USA/Japan: 140.371 DOWN 0.55 OR YEN UP 55 basis points/

Great Britain/USA 1.1882 UP .0025 OR  25 BASIS POINTS //

Canadian dollar  DOWN .0052 OR 52 BASIS pts  to 1.3295

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

EARLY MORNING TRADING

Stocks Tumble After Amazon CEO’s Comments

WEDNESDAY, NOV 30, 2022 – 07:26 PM

Amazon CEO Andy Jassy was speaking live during the DealBook Summit and let some uncomfortable truths loose:

Jassy began by noting that they had done a lot of hiring and realized it was time to “streamline costs” adding that it was “clear that consumers are spending but being careful.”

Finally, Jassy warned that the economy is a “lot more uncertain than previously thought.”

These comments weighed on AMZN (and AAPL)…

This sent the broad markets lower…

Not exactly a sign of the soft-landing so many are hoping for.

then

EARLY AFTERNOON TRADING

Wall Street Reacts To Powell’s Dovish Speech As Markets Explode Higher

WEDNESDAY, NOV 30, 2022 – 10:17 PM

Stocks are soaring because once again CNBC’s in-house clown Jim Cramer was dead wrong when he predicted that Powell has “every reason to be hawkish” after today’s stronger-than-expected Q3 GDP – because apparently the Fed looks at 6-month-old lagging indicators when making policy…

… and instead the opposite happened – as usual – with Powell signaling that the Fed would slow the pace of interest-rate increases, starting as soon as at its Dec. 13-14 meeting (read: 75bps hike are dead). While Powell did have his hawkish moments, like when he repeated that it’s likely that interest rates will need to go “somewhat higher” than what policymakers had forecast in September, he was more dovish than hawkish and omitted language from Nov 2 when he said that “we have a ways to go with interest rates before we get to the level that is sufficiently restrictive.”

And while we’ll get an update to those forecasts at the December meeting, which will likely show an uptick in that terminal rate projection, it will be below 5%, as Powell’s comments clearly hammered the terminal rate back under 5%.

Powell also said Fed officials will be looking for “significant positive” real rates across the yield curve, among other asset classes, to assess how restrictive monetary policy is.

While the Fed chair discussed monetary policy, he talked extensively about the labor market, saying there are some early signs of a slowdown and that a “softish” landing is still possible. He said officials are concerned that workers may soon start demanding higher wages, which could have a more troubling impact on inflation.

And despite Powell’s saying that history has taught him “loosening policy prematurely would be a mistake” and that the Fed is going to stay the course until its job is done, stocks exploded when he echoed Brainard saying that “If you are waiting for inflation to go down, it’s very difficult not to overtighten.”

In response to Powell’s dovishness, the S&P 500 soared more than 2.1% as of 3:00 p.m. in New York, while the Dow Industrial Average added 1.3%; Tech stocks were the standout, with the Nasdaq 100 surging more than 3%. The VIX index of volatility was set to drop below 20.

Below is a snapshot of several Wall Street reactions to Powell’s comments.

Neil Dutta of Renaissance Macro Research:

“Powell is giving the Fed an off-ramp to 75 basis point moves, but I don’t think you can rule out anything else. There is a reasonably strong chance the Fed extends 50 basis point hikes or 25 basis point hikes.”

Bloomberg Chief US Economist Anna Wong:

“Powell said the labor shortfall — which he estimates at 3.5 million — mostly reflects early retirement, and there’s few signs these workers will return. He’s implying the unemployment rate will likely have to rise to cool wage growth, since an increase in labor supply is not forthcoming.”

“Powell has sounded more hawkish than the typical FOMC participant. Notably, he appears less confident than some in the November FOMC minutes that wage growth has cooled. He hinted labor supply is unlikely grow anytime soon, and the Fed will have to bring down demand or raise the unemployment rate to slow wage growth. This speech confirms our view that Powell is on the hawkish end of the FOMC spectrum — possibly more hawkish than the median participant.”

Bloomberg rates strategist Ira Jersey:

Jersey notes that Powell discussed when to stop the balance sheet runoff, and mentioned that at some point they will stop shrinking the balance sheet while allowing reserves to fall as other liabilities naturally climb adding:“The thing that eventually will need to happen is organic balance sheet growth. Everyone has seemed to forget the Fed used to purchase modest amounts of Treasuries every month — but these weren’t ‘large security asset purchases,’ they were just normal. Communicating this shift may be confusing to some market participants when the time comes. The Fed may need to consider starting to communicate this once they’re done hiking.”

ii) USA DATA

ADP Signals “Turning Point”: Weakest Labor Gains Since Jan 2021, Manufacturing Job Losses SoarBY TYLER DURDEN

WEDNESDAY, NOV 30, 2022 – 03:22 PM

The Midterms are over and so any pretense of a ‘strong as hell’ economy are out of the window, providing some ammo for folks to believe this morning’s ADP report (ahead of Friday’s payrolls print) may come in very ugly.

After a notable rise in October (despite an aggressively tightening Fed), expectations were for a smaller +200k print in November but instead ADP reports only 127k jobs were added in November – the lowest since Jan 2021

Source: Bloomberg

Service-providing jobs rose 213k while goods-producing jobs fell 86k with manufacturing job losses soaring… but fear not, we added 224k bartenders and waiters

*AMC NETWORKS TO LAY OFF ABOUT 20% OF ITS U.S. EMPLOYEES: DJ

As long as the US hires 5 million waiters and bartenders in November, all is well— zerohedge (@zerohedge) November 29, 2022

Nela Richardson, ADP Chief Economist said:

“Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains. In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting and the post-pandemic recovery is stabilizing.”

Pay growth remained elevated even as it continued a modest but broad-based deceleration.

Job changers notched their fifth straight slowdown and the smallest increase in pay since January.

Pay growth for job stayers edged down, too, led by leisure and hospitality, which had a rapid run-up in 2021 but has been falling since March.

END

Ugly JOLT: Job Openings Plunge By 353,000 As Hiring, Quits Tumble To Multi-Year Lows

Tyler Durden's Photo

BY TYLER DURDEN

WEDNESDAY, NOV 30, 2022 – 05:33 PM

One month after the August Jolts report showed an unexplained surge in job openings (following the dire plunge in July when nearly 1 million job openings were gone), things are reverting back to normal because after the “freak” spike in job openings in the last month of the summer which was downward revised to 407K (after the 890K drop in July), in September the trendline resumed its grind lower as another 353K job openings were gone, bringing the total to just 10.334 million, down from the record 11.855 million hit in March of 2022.

According to the BLS,  job openings decreased in state and local government, excluding education  (-101,000); nondurable goods manufacturing (-95,000); and federal government (-61,000). The number of job openings increased in other services (+76,000) and in finance and insurance (+70,000).

Coming at a time when payroll growth is shrinking fast, if one believes this morning‘s ADP print which indicated that a whopping 100,000 manufacturing jobs were lost including over 100,000 information, financial and professional workers…

… but offset by the usual hiring spree of waiters and bartenders, the drop in job openings meant that there is still 4.275 million more job openings than there are unemployed workers.

The September update also means that there were 1.71 job openings for every unemployed worker, down from 1.86 last month. That said, this number has a ways to drop to revert to its precovid levels around around 1.20.

This is important because as Fed mouthpiece Nick Timiraos wrote last month, “The Fed would like to see the ratio of vacancies to unemployed workers decline, and it ticked up in September to 1.86 from 1.68.” Well, it ticked right back down now.

While job openings reversed the recent bounce, hiring continued to slide and in September the BLS reported that total hires dipped to 6.012 million which was the lowest since January 2021.

The trend here is clear: lower and to the right. According to the BLS.

And more bad news: the number of quits – or the “take this job and shove it” indicator – continued to deteriorate, and in Sept dropped by 34K to 4,026MM, the second lowest since June 2021!

So will the combination of a clearly disastrous ADP print coupled with another ugly JOLTS report be enough to convince Powell to ease off the break? For the answer, join us at 1:30pm when Powell speaks at Brookings and either sends stocks plunging… or soaring.
end

Q3 GDP Revised Higher As PCE Comes In Hotter Than Expected

WEDNESDAY, NOV 30, 2022 – 04:01 PM

While it’s among the least relevant points of this week’s data deluge as it looks at a quarter that ended nearly 2 months ago (and much has changed since then), moments ago the BEA reported that according to its 2nd estimate of Q3 GDP, the US rebound from the “non-recession recession” of H1 when GDP was negative for 2 quarters, was even stronger than expected, with Q3 GDP revised up from 2.6% to 2.9%, above the 2.8% consensus estimate, with the BEA reporting that the increase “primarily reflected a smaller decrease in private inventory investment, an upturn in government spending, and an acceleration in nonresidential fixed investment that were partly offset by a larger decrease in residential fixed investment and a deceleration in consumer spending. Imports turned down.”

Digging deeper we find that the third-quarter increase in real GDP reflected increases in exports, consumer spending, business investment, and government spending that were partly offset by decreases in housing investment and inventory investment. Imports, which are a subtraction in the calculation of GDP, decreased.

In terms of the revisions from the first to the second estimate, the update primarily reflects upward revisions to consumer spending and business investment that were partly offset by a downward revision to inventory investment.  Quantifying the Q3 GDP revision changes we get the following :

  • Personal consumption rose 1.18%, up from 0.97% in the first estimate. The increase in consumer spending reflected an increase in services (led by health care and “other” services) that was partly offset by a decrease in goods (led by motor vehicles and parts as well as food and beverages). 
  • Fixed Investment was less of a detractor, dropping -0.74%, vs -.89% in the first estimate. The increase in business investment reflected increases in equipment and intellectual property products that were partly offset by a decrease in structures. Specifically, nonresidential fixed investment, or spending on equipment, structures and intellectual property rose 5.1% in 3Q after rising 0.1% prior quarter. The decrease in housing investment was led by new single-family housing construction and brokers’ commissions.  
  • The change in private inventories however offset this, dropping by -0.97%, more than the -0.70% in the first estimate. The decrease in private inventory investment was led by retail trade (mainly clothing and accessory stores and “other” retailers). 
  • Exports saw a modest gain, adding 1.72% to Q3 GDP, up from 1.63%
  • Less imports resulted in a bigger contribution to GDP, boosting it to 1.21% up from 1.14%. The decrease in imports reflected a decrease in goods (led by consumer goods).
  • Finally, government consumption boosted GDP by 0.53%, up from 0.42% previously. The increase in government spending reflected increases in state and local as well as federal (led by defense spending).  

In other word, the entire GDP boost (2.93%) was attributable to net trade (2.93%) which in turn was driven by energy exports to Europe and weapons exports to the Ukraine, while a slowdown in the US economy meant fewer imports.

Finally, looking at the all-important PCE components, the GDP Price index came in at 4.3%, above the 4.1% expected, while core PCE Q/Q rose from 4.5% in the first estimate to 4.6%, also above the 4.5% est; this may explain why the market reaction has been rather negative to the GDP report, as the continue heat in PCE may, in the eyes of algos, offset the disastrous ADP print.

Gross domestic purchases prices, the prices of goods and services purchased by U.S. residents, increased 4.7 percent in the third quarter, an upward revision of 0.1 percentage point. Excluding food and energy, prices increased 5.0 percent, an upward revision of 0.2 percentage point. Personal consumption expenditure (PCE) prices increased 4.3 percent in the third quarter, an upward revision of 0.1 percentage point. Excluding food and energy, the PCE “core” price index increased 4.6 percent, also revised up 0.1 percentage point.

Finally, we should remind readers that this data is largely meaningless as it looks at the state of the economy during the summer, while what matters for the Fed is the here and now, and how fast the US slides into recession; which means what Powell says at 1:30pm today will be even more important.

end

US Pending Home Sales Plunge To Biggest Annual Drop Ever

WEDNESDAY, NOV 30, 2022 – 05:07 PM

After plunging by the most since COVID lockdowns in September, analysts expected US pending home sales to tumble once again in October and they did, dropping 4.6% MoM (September was revised slightly higher from -10.2% MoM to -8.7% MoM)…

Source: Bloomberg

This the 5th straight month of sales declines (and 11th of the last 12 months) leaving the YoY drop down over 36% – the biggest annual drop ever.

“October was a difficult month for home buyers as they faced 20-year-high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement.

“The West region, in particular, suffered from the combination of high interest rates and expensive home prices. Only the Midwest squeaked out a gain.”

Absent the COVID collapse, this is the weakest level for the Pending Home Sales Index since the nadir in June 2010…

Source: Bloomberg

Pending home sales are often looked to as a leading indicator of existing-home purchases given properties typically go under contract a month or two before they’re sold

Existing home sales tumbled in October while new home sales rose (cancellations are not counted), and so the pending home sales print confirms the weakness that Jay Powell apparently is looking for in the US housing market.

end

Chicago PMI Collapses To COVID-Lockdown Lows, Screams ‘Recession’

WEDNESDAY, NOV 30, 2022 – 04:52 PM

In a massive downside surprise, the Chicago PMI survey just printed 37.2 (vs 47.0 expectations), plunging to its lowest level since the peak of the COVID lockdowns in 2020. This was below the lowest estimate of 25 economists surveyed.

Source: Bloomberg

Under the hoods was not pretty:

  • Business barometer fell at a faster pace; signaling contraction
  • Prices paid rose at a slower pace; signaling expansion
  • New orders fell at a faster pace; signaling contraction
  • Employment fell at a slower pace; signaling contraction
  • Inventories rose at a faster pace; signaling expansion
  • Supplier deliveries fell and the direction reversed; signaling contraction
  • Production fell at a faster pace; signaling contraction
  • Order backlogs fell at a faster pace; signaling contraction

In 55 years, this level of Chicago PMI has never not failed to coincide with a recession.

end

III) USA ECONOMIC STORIES.

Unions Furious As Biden, Pelosi Push Bill To Avert Rail Strike

TUESDAY, NOV 29, 2022 – 09:40 PM

Under pressure from President Biden, Speaker Pelosi said that House lawmakers will take up legislation on Wednesday to stop a nationwide strike by railroad workers by imposing a proposed contract that members at four railroad unions had rejected, saying Congress needs to intervene to prevent devastating job losses.

“I don’t like going against the ability of unions to strike, but weighing the equities, we must avoid a strike. Jobs will be lost, even union jobs will be lost, water will not be safe, product will not be going to market,” she said.

Both sides in the negotiations had agreed to a cooling-off period until Dec. 9 with the sticking points involving work schedules and paid sick time.

As The Wall Street Journal reports, under the Railway Labor Act, Congress can make both sides accept an agreement that their members have voted down.

As you would expect some Democrats are hesitant to bite the hand that feeds them and tell labor unions what to do; and some union leaders have already expressed their ire at the intervention.

“We’ve made it clear we wanted this process to play out, and we even asked Congress not to intervene in this process because by doing that, it takes away any leverage we have with the industry,” said Michael Baldwin, president of the Brotherhood of Railroad Signalmen.

Michael Paul Lindsey, a locomotive engineer in Idaho and steering committee member for Railroad Workers United, told Insider it was a “blatant betrayal,” but he wasn’t surprised.

“I thought it was kind of laughable that anyone would think that either the Democrats or the Republicans actually cared. Bottom line, they care about money,” he said.

Even so, “there was always that hope in the back of my mind that maybe someone would do something that was actually right for the American worker for once — instead of just what’s right for corporate America.”

Republicans have traditionally philosophically-opposed government intervention into private contractual obligations, and Senator Marco Rubio has vociferously defended the workers’ rights:

“Just because Congress has the authority to impose a heavy-handed solution does not mean we should,” he said.

“It is wrong for the Biden administration, which has failed to fight for workers, to ask Congress to impose a deal the workers themselves have rejected.”

We will see tomorrow if Pelosi really does have the votes she claims to pass this bill.

end

SWAMP STORIES

USA ECONOMIN SUPPLY ISSUES

end

SWAMP STORIES

NBC News Reporter Not Seen On Air Since Paul Pelosi Attack Report Retracted

TUESDAY, NOV 29, 2022 – 11:20 PM

Authored by Jack Phillips via The Epoch Times (emphasis ours),

NBC News correspondent Miguel Almaguer has not appeared on the air since a Nov. 4 report on details surrounding the attack targeting Paul Pelosi last month was retracted without explanation.

Almaguer is usually featured on NBC’s “Today” and “Nightly News” programs. Reports earlier this month indicated that he was suspended by the network after the video report was retracted, and he has not been seen on NBC since then.

Meanwhile, NBC News or its parent company has not issued any statements on why Almaguer is gone, if he was suspended, and for how long. Almaguer also has not publicly commented on the matter.

NBC News has not returned a request for comment on Monday on if or when Almaguer will return. The Epoch Times also contacted Almaguer for comment.

After the report was pulled down from its “Today” website, NBC included an editor’s note saying, “This piece has been removed from publication because it did not meet NBC News reporting standards.”

What Was Said

In his retracted video report, Almaguer said that Paul Pelosi—the husband of House Speaker Nancy Pelosi (D-Calif.)—opened the door to their San Francisco home last month when police arrived. However, he did not try to escape or alert police to an emergency, and he instead walked to the police and back toward the alleged attacker, David DePape.

When his report was shared en masse on Nov. 4, coming days after the attack was reported, NBC removed the report from its website and social media.

Almaguer also has not posted on Twitter, where he is normally active, since Nov. 3. Last week, Almaguer posted photos of himself in Barcelona, Spain, on Instagram, suggesting he spent the Thanksgiving holiday there.

“After a ‘knock and announce,’ the front door was opened by Mr. Pelosi. The 82-year-old did not immediately declare an emergency or tried to leave his home but instead began walking several feet back into the foyer toward the assailant and away from police,” Almaguer said in the now-deleted Nov. 4 video report. Almaguer cited unnamed sources for the claims.

“It’s unclear if the 82-year-old was already injured or what his mental state was, say sources,” the NBC correspondent added.

His report appeared to contradict some official statements that were made by police and the local district attorney’s office, who said police officers arrived to find Pelosi struggling with DePape over a hammer. When police told the two to drop the hammer, DePape allegedly then struck Pelosi, 82, in the head with it, according to the DA’s office.

Earlier this month, a spokesperson for NBC told the Daily Beast that “we don’t comment on personnel matters.” Almaguer’s agent told Fox News on Monday they will not speak “on client matters.”

More Details

Pelosi’s office confirmed later that Paul Pelosi returned from the hospital about a week after the alleged attack. DePape has, in the meantime, pleaded not guilty to federal and state charges.

Paul Pelosi told a 911 dispatcher that he was sleeping when a man he had never seen before entered his bedroom looking for Nancy Pelosi, who was in Washington, D.C. Officers later found a broken glass door to the back porch. They recovered zip ties, a roll of tape, white rope, a second hammer, and a pair of rubber and cloth gloves, according to court documents.

Read more here…

end

Amazing!!

Pennsylvania County That Ran Out Of Paper Ballots Fails To Certify Election Results

WEDNESDAY, NOV 30, 2022 – 02:25 AM

Authored by Jack Phillips via The Epoch Times (emphasis ours),

A county in Pennsylvania that didn’t have enough paper ballots on Election Day failed to certify the results of the Nov. 8 midterms by the Nov. 28 deadline.

The Luzerne County Board of Elections split 2–2 to certify the results, while one member abstained from voting. It’s unclear what the next steps are.

Republican board members Alyssa Fusaro and Jim Mangan voted no, while Democrat members Denise Williams and Audrey Serniak voted for the certification, according to the Times Leader. Daniel Schramm, also a Democrat, was the lone board member who abstained.

Fusaro and Mangan said the ballot shortage on Nov. 8 that caused voters to be turned away was the reason they wouldn’t certify the results, according to local media reports. Fusaro said on Nov. 28 that voters were turned away from the polls, privacy safeguards weren’t in place, and machines jammed and ran out of paper.

There were so many challenges, so many issues, so many problems, so many concerns, that I can’t with good conscience certify this election,” Fusaro said, stating that a new election should be held.

Schramm said at the hearing that he’s “not a rubber stamper” and wants more time to review a reconciliation report. He also wants to look into claims made by voters on Election Day, the Times Leader reported.

Mangan said the board “made every effort” to accept every ballot possible during the adjudication phase. The paper ballot issues, he said, triggered a “humiliating experience” for Luzerne County’s government that drew international headlines.

The Luzerne County District Attorney’s Office previously stated that it’s investigating the paper shortage along with other issues on Election Day.

Officials with the Pennsylvania Department of State didn’t provide an immediate public comment about the next steps. In May, three Pennsylvania counties refused to record mail-in votes from the state’s primary elections and delayed Pennsylvania’s certification of the results before a judge intervened and ordered that the votes be counted.

During the Nov. 28 hearing, an attendee called Serniak a liar after she said, “I can’t see any massive fraud in this,” according to local media. The man was escorted out of the building by deputies.

Deputies also asked another man to leave after he called Williams a communist and said board members shouldn’t vote until voters get a full explanation of why the paper shortage was caused.

Read more here…

KING REPORT

The King Report November 30, 2022 Issue 6897Independent View of the News
Chinese City Hosting Key iPhone Plant Lifts Covid Lockdown
The central Chinese city of Zhengzhou, home of Apple Inc.’s largest manufacturing site, is lifting a lockdown on its main urban areas after five days.  As of Nov. 30, Zhengzhou will remove so-called mobility controls — a euphemism for lockdown — and replace them with normal Covid-combating measures, according to a post on the local government’s official WeChat account. Businesses will be allowed to resume operations in an orderly manner, and people outside of designated high-risk areas can skip Covid tests as long as they don’t leave home
https://www.bloomberg.com/news/articles/2022-11-29/chinese-city-hosting-key-iphone-plant-lifts-covid-lockdown
 
Markets Cheer Chinese Vaccine Drive Announcement Clearing Path Toward Reopening
The Hang Seng China Enterprises Index soared over 6%, because as Bloomberg’s Sofia Horta e Costa put it, we got “plenty of signaling” on the road to reopening, to wit:
    As Horta e Costa put it, “the key to tracking shifts in China’s Covid Zero policy will come from official tone, language and signaling — reading the tea leaves might be a high-risk bet but investors seem happy with what they got today.”…
https://www.zerohedge.com/markets/chinese-stocks-jump-elderly-vaccination-boost-fuels-reopening-bets
 
The usual suspects went euphoric again over the notion that China’s latest crackdown and the resultant rioting and suppress are indication that China is about to reopen its economy.  Of course, this rationalization could be bogus and the reason for the rally on Tuesday was due to November performance gaming – or China manipulated its stock markets higher.
 
Why Biden & Global Elites Are Shamefully Quiet on China
Women and girls in China and Hong Kong are risking their lives for freedom. Citizen journalism has eclipsed mainstream news reporting, with even The New York Times citing tweeted videos…
    The government is using covid as justification for sweeping repression
    President Joe Biden has been shamefully quiet…   Others, like World Economic Forum’s founder, praised China just a few days ago on state television. “China is a model for many nations,” said Klaus Schwab on November 19, 2022… Schwab has been pandering to the Chinese regime since 1978. The Chinese government’s Ministry of Foreign Affairs in August offered up this purple prose: “In 1978, Klaus Schwab, founder and Executive Chairman of the WEF, with his keen perception and insight, predicted that… China would play a vital role on the world stage….” Since then, notes the ministry, “China has never been absent from the Davos meetings.” In fact, China has hosted WEF meetings every other year since 2007…Schwab has provided a platform for Chinese President Xi Jinping to make false claims about its human rights record…   
    The underlying problem is that the West is overly dependent on China for its manufactured products…  https://michaelshellenberger.substack.com/p/why-biden-and-global-elites-are-shamefully
 
Fox: Tucker Carlson: China’s COVID policy is a tool of social control
 
TUCKER CARLSON: Shanghai is the largest prison camp in human history
Here’s something that we didn’t know, but now do. In the winter of 2020, Tony Fauci wanted to know how the Chinese Communist Party was responding to COVID…  He’d want to see what they were doing, so we sent one of his deputies, a man called Clifford Lane, to China to find out, and Lane seemed stunned by what he saw there.
    Entire Chinese cities had been quarantined, the whole cityHuge numbers of people were forcibly locked inside their own homes, in some cases to starve to death. Secret police cruised the streets forcing pedestrians into windowless vans for the crime of being outside. Household pets, dogs and cats, were declared unclean and beaten to death on the sidewalk. It was a hellish dystopian scene.
    So, Lane returned to the U.S. to tell Tony Fauci what he’d seen there. But Tony Fauci was not disgusted. He was not appalled by the human rights abuses that Clifford Lane had seen in China. According to a new report in The Epoch Times, based on depositions that emerged this month, Tony Fauci was envious. “This is what we have to do” in the U.S., Fauci told Wayne…
    As of Sunday, yesterday, there were no COVID deaths reported in China, a nation of nearly a billion and a half people, not one COVID death. COVID is not a threat to the Chinese government. Political unrest, however, is a threat to the Chinese government. It always has been and that’s the point. In China, as in the United States, COVID policy is not a public health matter. COVID policy is a tool of social control. COVID policy is a way for the people in charge to strip from their population the most basic civil liberties and remain in charge…
https://www.foxnews.com/opinion/tucker-carlson-shanghai-largest-prison-camp-human-history
 
@GovRonDeSantis: The Chinese Communist Party’s “Zero COVID” policy is draconian, unscientific, and represents a gross violation of individual rights. The Chinese people are right to protest the maniacal impulse to exercise total control of the population which is the hallmark of the CCP regime.  This CCP has a maniacal desire to exert total control over its population. Zero covid is just a pretext for them to do what they want to do anyways…  https://twitter.com/GovRonDeSantis/status/1597623973830791169
 
@disclosetv: DeSantis to Apple: “Don’t be a vessel of the CCP on one hand and then use your corporate power in the US on the other to suffocate Americans.
https://twitter.com/disclosetv/status/1597636915385470976
 
@FLVoiceNews: Ron DeSantis says Apple removing @elonmusk’s Twitter from app store warrants Congressional response.  “That would be a huge, huge mistake, and it would be a really raw exercise of monopolistic power that I think would merit a response from the United States Congress.”
https://twitter.com/FLVoiceNews/status/1597619967062863874
 
@elonmusk: This is a battle for the future of civilization. If free speech is lost even in America, tyranny is all that lies ahead.
 
Academics tout ‘psychological benefits’ of return to mask mandates: People don’t have to think for themselves – A trio from Brown University suggested that demanding citizens wear masks ‘removes the onus on individuals to figure out ‘what is safe’’
https://www.foxnews.com/media/academics-tout-psychological-benefits-mask-mandates-people-dont-think-themselves
 
US Consumer Confidence Declined Again in November
The Conference Board Consumer Confidence Index® decreased in November… The Index now stands at 100.2 [100 expected] (1985=100), down from 102.2 in October. The Present Situation Index… decreased to 137.4 from 138.7 last month. The Expectations Index… declined to 75.4 from 77.9. 
(1-year Inflation expectations hit 7.2% vs. 6/9% in October.)
https://www.conference-board.org/topics/consumer-confidence
 
The FHFA House Price Index for September increased 0.1% m/m; -1.2% was consensus.  The S&P CoreLogic 20-city house price index fell 1.24% m/m & 10.43% y/y, -1.2% & -10.55% were expected.
 
Fox’s @ChadPergram: 1) Rubio (GOP Sen) on Congress getting involved to avert rail strike: Just because Congress has the authority to impose a heavy-handed solution does not mean we should.  2) Rubio: It is wrong for the Biden Administration, which has failed to fight for workersto ask Congress to impose a deal the workers themselves have rejected. I will not vote for any deal that does not have the support of the rail workers.  3) Rubio: This whole episode highlights many of the ongoing problems in our economy. On the one hand, Wall Street’s drive for efficiency has turned rail workers into little more than line items on a spreadsheet.  4) Rubio: On the other hand, you have union leadership so disconnected from its rank and file that they struck a deal their members can’t support. Instead of relying on Congress to carry their water, the parties should go back to the negotiating table and strike a fair deal.
 
Rail unions decry Biden’s call for Congress to block strike. Businesses praise the plan
The move was a serious setback for the unions, who say they needed the right to strike in order to get railroad management to negotiate over their major demand to give workers sick days that are not in the current contracts. They say the railroads, many of which reported record profits last year, are enjoying even stronger profits this year and can afford to meet the union’s demands.
    Biden said he is sympathetic to the union’s demand, but he said a rail strike would cause too much economic damage and must be avoided.  (Where’s the high-minded Buffett/Burlington on the strike?)
https://www.cnn.com/2022/11/29/business/rail-strike-threat-recedes/index.html
 
ESZs rallied progressively as Asian trading unfolded.  They peaked 24 minutes after Europe opened (3990.25).  ESZs and stocks then stair-stepped lower until they hit a bottom of 3961.00 at 9:55 ET.  Conditioned traders eager bought the opening dip.
 
ESZs jumped to 3981.75 at 10:27 ET.  Sellers then took control; ESZs sank to a daily low of 3941.25 at 11:19 ET.  The obligatory rally to markup positions into the European close appeared.  The rally morphed into a Noon Balloon.   The rally ended at 12:44 ET.
 
At 13:30 ET, the need and desire to game November performance induced a rally.  The rally ended at 13:03 ET.  The ensuing 19-handle ESZ decline ended at 14:45 ET.  The late rally was modest and lame.
 
Positive aspects of previous session
The DJTA soared on a DB tout of FedEx, which also lifted other ground transport stocks
 
Negative aspects of previous session
Bonds declined sharply; stocks struggled near month end – possibly on Powell trepidation
Activity this week has been lethargic
 
Ambiguous aspects of previous session
Why have US equities turned soft at month end?  Is it trepidation for Powell’s speech today?
 
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]: 3957.34
Previous session High/Low3976.77; 3937.65
 
CDC knew COVID vax associated with myocarditis but left off post-vax surveys
Data released under court order shows 1 in 3 among earliest populations to get vaccinated reported needing medical care, missing school or work, or inability to “perform normal daily activities.” CDC still fighting to keep v-safe “free-text field data” secret…
https://justthenews.com/government/courts-law/premeditated-cdc-knew-covid-vax-associated-myocarditis-left-post-vax-surveys
 
Fauci Couldn’t Name Any Studies Showing Masks Work Against COVID-19: Lawyers
Dr. Anthony Fauci could not cite any studies that changed his mind about masking against COVID-19 during a recent deposition, lawyers who were in the room said… Missouri Attorney General Eric Schmitt, a Republican who was also present during the deposition in Maryland, said on social media that Fauci “couldn’t cite a single study” to back up his claim that masks were effective against COVID-19…
https://yournews.com/2022/11/28/2462172/fauci-couldnt-name-any-studies-showing-masks-work-against-covid-19/
 
Chinese Stocks Listed in the US Are Having Their Best Month Ever – Gold Dragon Index +30%
As investors grow more encouraged about a potential shift away from the strict pandemic policies that have slowed the economy…  https://news.yahoo.com/chinese-stocks-surge-us-vaccine-091841904.html
 
Today – Traders wanted to play for Nov. performance gaming and the expected Monday rally, but Chinese events and Bullard thwarted them.  Yesterday traders and money managers wanted to play for a Turnaround Tuesday to the upside and performance gaming for November.  Traders knew the window for a rally could slam shut when Powell speaks today at 13:30 ET.
 
There should be a rally into the European close on November performance gaming.  Then, the markets should go inert ahead of Powell’s speech.  The market expects Powell to reiterate his slightly hawkish stand.  If Powell is not more hawkish then expected, there should be a robust relief rally abetted by November performance gaming. 
 
ESZs hit -5.50 at 18:57 ET because Japanese Oct Industrial Production sank 2.6% m/m; -1.8% was expected.  ESZs are +4.00 at 20:15 ET.
 
Day 6 – The Big Guy & US woke corporations have yet to comment on the “White Paper Revolution.” 
 
Expected economic data: Nov ADP Employment Change 200k; Q3 GDP 2.8%, Consumption 1.65, GDP Price Index 4.1%, Core PCE 4.5%; Oct Advance Goods Trade Balance -$90.6B; Oct Wholesale Inventories 0.5% m/m, Retail Inventories 0.5% m/m; Nov Chicago PMI 47; Oct Pending Home Sales -5.3% m/m, -35.0% y/y; Oct JOLTS Job Openings 10.3m; Fed Beige Book 14:00 ET; Powell speaks at 13:30 ET, Fed Gov Bowman 8:50 ET, Fed Gov Cook 12:35 ET
 
S&P 500 Index 50-day MA: 3796; 100-day MA: 3919; 150-day MA: 3937; 200-day MA: 4052
DJIA 50-day MA: 31,515; 100-day MA: 31,868; 150-day MA: 31,889; 200-day MA: 32,464
 
S&P 500 Index – Trender trading model and MACD for key time frames
MonthlyTrender and MACD are negative – a close above 4523.26 triggers a buy signal
WeeklyTrender and MACD are positive – a close below 3666.67 triggers a sell signal
DailyTrender and MACD are positive – a close below 3843.33 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 3988.72 triggers a buy signal
 
Biden’s fumbled Afghanistan withdrawal was a propaganda gift to China, Defense Department finds – The report suggests that China capitalized on the withdrawal to convince world leaders that the U.S. is not a reliable ally. “The PRC employed multiple diplomatic tools in an attempt to erode U.S. and partner influence,” the report reads, including “highlighting the U.S. withdrawal from Afghanistan.”…
https://www.foxnews.com/politics/bidens-fumbled-afghanistan-withdrawal-propaganda-gift-china-defense-department-finds
 
@townhallcom: On Thanksgiving, Joe Biden said “it’s sick” that Americans are free to purchase semi-automatic weapons. Yesterday, Karine Jean-Pierre was forced to walk these comments back, claiming that he wasn’t even talking about semi-automatic weapons.  (More Team Biden gaslighting)  https://twitter.com/townhallcom/status/1597604814737006592
 
‘Gaslighting’ is Merriam-Webster’s word of the year for 2022 (Thanks to Team Biden & MSM?)
https://apnews.com/article/word-of-the-year-2022-80d02a3e0a347e542466571ca9cdb2ef
 
Non-binary Biden nuclear official charged with stealing woman’s $2.3K luggage at airport https://trib.al/awm2z0L
 
Biden’s ‘Pup Play’ Nuke Official Steals Woman’s Luggage, Is Now on Leave
“Brinton is also controversial for lecturing at colleges about Kink 101, talking about things like a pup play fetish, dressing up young men in dog collars and muzzles. Brinton is also a member of a drag queen society that uses graphical — graphic sexual names to mock catholic nuns. Brinton, by the way, is seen here with Rachel Levine, the first transgender associate secretary of Health and Human Services.”…
https://www.lifezette.com/2022/11/bidens-pup-play-nuke-official-steals-womans-luggage-is-now-on-leave/
 
@Breaking911: MCCONNELL: “There is no room in the Republican Party for anti-Semitism or white supremacy. And anyone meeting with people advocating that point of view — in my judgment — are highly unlikely to ever be elected President of the United States.”
https://twitter.com/Breaking911/status/1597680853282611200
    @bonchieredstate: He’s right. You may hate him, but he’s right. Trump’s ceiling is 46% and shrinking.
 
McConnell chastised Trump for DJT’s inexcusable dinner, but Mitch remains silent on The White Paper Revolution because his family has made beaucoup bucks dealing with China.
 
@ChadPergram: From colleague Brooke Singman: Trump after McConnell calls him out for mtg with Nick Fuentes. Trump: “Mitch is a loser for our nation and for the Republican Party who would not have been re-elected in KY without my endorsement, which he begged me for because he was going down… His well-financed opponent had $93 million ready to spend when I drove him from 2 points down to 21 points up in a matter of days.”
 
@GRDecter: I just listened to the full audio of a phone call with Sam Bankman-Fried, his only recorded interview since FTX declared bankruptcy…  Here are a few of the most interesting parts: He says that he intentionally made Democratic donations publicly because the media has a liberal bias and would be more favorable to him. But he still made donations to Republicans in order to gain influence on both sides of the aisle… In the call, Sam paints himself as the hero trying to do the right thing, but the bureaucratic establishment just won’t let him…  https://twitter.com/GRDecter/status/1597673957490319360
 
“Goebbels was in favor of freedom of speech for views he liked. So was Stalin. If you’re in favor of freedom of speech, that means you’re in favor of freedom of speech precisely for views you despise.” —Noam Chomsky
 

GREG HUNTER REPORT/

War Cycle Heats Up & Markets Tank in 2023 – Charles Nenner

By Greg Hunter On November 29, 2022 In Market Analysis5 Comments

By Greg Hunter’s USAWatchdog.com 

Renowned geopolitical and financial cycle expert Charles Nenner said, back in September, the markets would sink and then go back up.  Both calls happened right on time.  What does Nenner see now?  Nenner says, “Two days ago, we started to take profits again.  So, we are not that bullish. . . . The public we have now do not understand bear markets. . . . They don’t understand that we can have rallies of 15% to 20%, and then it can go down again. . . . So, we took profit and we are mostly in cash again.  We are long in the bond market for a change because it looks like inflation is going to moderate for a little bit.  We are waiting for the gold cycles to bottom, and we are getting very close, but the bull market in gold will come, but it’s still going to take a few more weeks.”

So, are interest rates on the way down?  Nenner says, “Yes, but for very short term.  You might remember our interest rate cycles bottomed, and the cycle is up for the next 30 years.  I expect interest rates to go back to where they were in the early 1980’s. . . . Longer term interest rates are going much higher.  Right now, we have a bounce because commodities are weaker, and I think they will be weak until around February.  This is probably why the Fed is not going to talk as aggressive as they were talking.  This is still temporary and interest rates are still going to go much higher in the future.”

Nenner also says, “Mortgage interest rates will go to the 8% to 9% range in 2023. . . .and the stock market will go down by about 50%.”

Nenner says look for inflation to moderate for the next few months but look out in 2023.  Nenner predicts, “Beware because once inflation raises its head, it is very difficult to get it back into the box.  We could go down to 6% or 6.5% inflation, but also the inflation cycle just started, and we are going to see much higher inflation.”

On the war cycle, Nenner has been predicting this “war cycle will really heat up in 2023.”  He’s convinced all the signs say he’s going to be right.  Nenner says, “I don’t think the inflation has anything to do with the war in Ukraine, but I think in the middle of next year, we have war cycles bottoming.  I think we are in for a really big mess because it doesn’t seem like anybody is ruling any country anymore, even China.  This may be the reason why gold and silver are going to take off.  If there are shortages, then the inflation will go through the roof.”

There is much more in the 36 min. interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned cycle analyst and financial expert Charles Nenner. (11.29.22)

(https://usawatchdog.com/war-cycle-heats-up-markets-tank-in-2023-charles-nenner/

(Tech Note: If you do not see the video, know it is there. Unplug your modem and plug it back in after 30 sec.  This will clear codes that may be blocking you from seeing it.  In addition, try different browsers.  Also, turn off all ad blockers if you have them. All the above is a way to censor people like USAWatchdog.com.)

After the Interview:

There is free information and analysis on CharlesNenner.com.

You can also sign up to be a subscriber for Nenner’s cutting edge cycle work with a free trial period by clicking here.    Please mention you heard about this on USAWatchdog.com if asked.

(USAW does not share in Nenner’s revenue in any way.  We do this as a courtesy.)

This segment is sponsored by Discount Gold and Silver Trading. Ask for Melody Cedarstrom, the owner, at 1-800-375-4188.RE FTX

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One comment

  1. Dr. Frustrated Harvey reader · · Reply

    Harvey: google Dr. Paul Alexander on Wiki..He’s a former Trump Admin. Guy who advocated mass infection to achieve herd immunity. You are doing the world a diservice publishing his biased BS.

    Like

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