by harveyorgan · in Uncategorized · Leave a comment·Edit

GOLD PRICE CLOSED: DOWN $3.20 TO $1910.15

SILVER PRICE CLOSED: DOWN $0.23 AT $22.62

Access prices: closes 4: 15 PM

Gold ACCESS CLOSE 1907.75

Silver ACCESS CLOSE: 22,57

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Bitcoin morning price:, $30,639 UP 448 Dollars

Bitcoin: afternoon price: $30,575 UP 384 dollars

Platinum price closing $901.45 DOWN $16.10

Palladium price; $1230.70 DOWN $21.55

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: $2,527..85 DOWN 2.90 CDN dollars per oz (ALL TIME HIGH 2,775.35)

BRITISH GOLD: 1512.74 UP 2.15 pounds per oz//(ALL TIME HIGH//CLOSING///1630.29)

EURO GOLD: 1755.62 UP 6.18 euros per oz //(ALL TIME HIGH/CLOSING//1861.21)//

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: JUNE 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,912.300000000 USD
INTENT DATE: 06/28/2023 DELIVERY DATE: 06/30/2023
FIRM ORG FIRM NAME ISSUED STOPPED

132 C SG AMERICAS 5
323 H HSBC 28
357 C WEDBUSH 1
363 H WELLS FARGO SEC 37
435 H SCOTIA CAPITAL 222
624 H BOFA SECURITIES 526
661 C JP MORGAN 153
661 H JP MORGAN 6
685 C RJ OBRIEN 2
690 C ABN AMRO 44
709 C BARCLAYS 2
732 C RBC CAP MARKETS 15
905 C ADM 7
991 H CME 92

TOTAL: 570 570

JPMorgan stopped 159/590 contracts.

FOR JUNE:

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2023. CONTRACT: 590 NOTICES FOR 59,000 OZ or 1.773 TONNES

total notices so far: 20,640 contracts for 2,064,000 oz (64.354 tonnes)

FOR JUNE:

SILVER NOTICES: 34 NOTICE(S) FILED FOR 170 OZ/

total number of notices filed so far this month : 886 for 4,430,000 oz

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END

GLD

WITH GOLD DOWN $3.20

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD//

HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 1.26:////

INVENTORY RESTS AT 926.81 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER DOWN 23 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.763 MILLION OZ FROM THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 466.764 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 4592 CONTRACTS TO 118,899 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY $0.02 LOSS IN SILVER PRICING AT THE COMEX ON WEDNESDAY. TAS ISSUANCE WAS A GOOD SIZED 528 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH . CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNEDAY NIGHT: 528 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE THIS YEAR SET ANOTHER RECORD LOW AT 117,395 CONTRACTS ///MARCH 29.2023// SO WE ARE WITHIN 1500 CONTRACTS OF A RECORD LOW. OUR BANKERS WERE BASICALLY UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.02). BUT WERE SUCCESSFUL IN KNOCKING SOME SPEC LONGS AS WE HAD A HUGE LOSS ON OUR TWO EXCHANGES OF 3,983 CONTRACTS. WE HAD 0 CRIMINAL NOTICES FILED IN THE CATEGORY OF EXCHANGE FOR RISK TRANSFER FOR 0 MILLION OZ// ( THE TOTAL ISSUED IN THIS CATEGORY SO FAR THIS MONTH TOTAL 13.370 MILLION OZ.). WE HAVE NOW RETURNED TO OUR USUAL AND CUSTOMARY SCENARIO: BANKERS SHORT AND SPECS LONG WITH MANIPULATION NOW MID MONTH AND BEYOND, DUE TO (TAS) MANIPULATION. TODAY WE WITNESSED FOR THE THIRD STRAIGHT DAY: HUGE SPREADER LIQUIDATION ON THE COMEX

WE MUST HAVE HAD:

A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS( 609 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.935 MILLION OZ(FIRST DAY NOTICE) FOLLOWED BY TODAY’S 0 OZ QUEUE JUMP + 0 MILLION OZ EXCHANGE FOR RISK(ISSUED TODAY: TOTAL ISSUED SO FAR: 13.370 MILLION OZ)// TOTAL STANDING FOR THE MONTH 4.430 MILLION OZ + 13.370 MILLION EXCHANGE FOR RISK = 17.80 MILLION OZ// ) // HUGE SIZED COMEX OI LOSS/ STRONG SIZED EFP ISSUANCE/VI) GOOD NUMBER OF T.A.S. CONTRACT ISSUANCE (528 CONTRACTS)//HUGE COMEX SPREADER LIQUIDATION//

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL –626 CONTRACTS

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

TOTAL CONTRACTS for 18 days, total 21,488 contracts: OR 107.440 MILLION OZ (1193 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 107.440 MILLION OZ

LAST 23 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

YEAR 2022:

JAN 2022-DEC 2022

JAN 2022// 90.460 MILLION OZ

FEB 2022: 72.39 MILLION OZ//

MARCH: 207.140 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

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023/// 53.070 MILLION OZ //FINAL

FEB: 2023: 100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL 118.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)

JUNE: 107.440 MILLION OZ//MUCH LARGER THAN LAST MONTH

RESULT: WE HAD A HUMONGOUS SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 4592 CONTRACTS DESPITE OUR TINY LOSS IN PRICE OF $0.02 IN SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A STRONG EFP ISSUANCE CONTRACTS: 609 ISSUED FOR JULY 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 JUNE OF 3.935 MILLION OZ FOLLOWED BY TODAY’S 0 OZ QUEUE JUMP+ 0 MILLION EXCHANGE FOR RISK TODAY + 13.37 MILLION EXCHANGE FOR RISK(PRIOR)//NEW TOTAL STANDING: 17.800 MILLION OZ////// .. WE HAVE A HUGE SIZED LOSS OF 3983 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GOOD 528//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION BUT THE REAL LIQUIDATION TODAY WAS THAT OF COMEX SPREADERS . THE NEW TAS ISSUANCE TODAY (528) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE.

WE HAD 34 NOTICE(S) FILED TODAY FOR 175,000 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 FAIR SIZED 2405 CONTRACTS TO 429,456 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 –387 CONTRACTS

WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 2018 CONTRACTS) WITH OUR $1.15 LOSS IN PRICE. WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR JUNE. AT 70.79 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 0.0960 TONNE QUEUE JUMP : NEW TOTAL RISES UP TO 64.354 TONNES STANDING // + /A STRONG ISSUANCE OF 1080 T.A.S. CONTRACTS ////YET ALL OF..THIS HAPPENED WITH A $1.15 LOSS IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING.WE HAD A FAIR SIZED GAIN OF 3709 OI CONTRACTS (10.603 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 5814 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 429,843

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3409 CONTRACTS WITH 2405 CONTRACTS DECREASED AT THE COMEX//TAS CONTRACTS INITIATED (ISSUED): A STRONG 1080 CONTRACTS) AND A STRONG 5814 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3409 CONTRACTS OR 10.603 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5814 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (2405) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3409 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG ,2.) GOOD INITIAL STANDING AT THE GOLD COMEX FOR JUNE AT 70.79 TONNES FOLLOWED BY TODAY’S 2900 OZ QUEUE JUMP //// NEW STANDING FALLS TO 64.354 TONNES// /3) ZERO LONG LIQUIDATION//4) FAIR SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: STRONG T.A.S. ISSUANCE: 1080 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

JUNE

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

TOTAL EFP CONTRACTS ISSUED: 49,140 CONTRACTS OR 4,914,000 OZ OR 152.84 TONNES IN 18 TRADING DAY(S) AND THUS AVERAGING: 2730 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 18 TRADING DAY(S) IN TONNES 152.84 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 152,84/3550 x 100% TONNES 4.30% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

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//

TOTALS: 2,578.08 TONNES/2021

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)

DEC: 185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 152.84 TONNES (WEAKER ISSUANCE THIS MONTH)

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF JUNE. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF MAY HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF JUNE., FOR BOTH GOLD:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (JUNE), 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.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

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 AN ATMOSPHERIC SIZED 4,592 CONTRACTS OI TO 118,899 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. HOWEVER WE HAVE SET A NEW RECORD LOW OF 117,395 CONTRACTS MARCH 27/2022 AND THUS WE ARE AROUND 1504 CONTRACTS ABOVE THAT RECORD LOW.

EFP ISSUANCE 609 CONTRACTS

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

JULY 609 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 609 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 4592 CONTRACTS AND ADD TO THE 609 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GIGANTIC SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3983 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 19.915 MILLION OZ

OCCURRED DESPITE OUR TINY $0.02 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//COPPER

Another Top Miner Predicts Copper ‘Super Cycle’ Amid Supply Shortage Fears Trigger By Energy Transition

WEDNESDAY, JUN 28, 2023 – 05:20 PM

Despite concerns about weak Chinese factory data and increasing risks of a global hard landing sometime in 2024, Eurasian Resources Group’s (ERG) chief executive officer Benedikt Sobotka said the world’s appetite for copper is set to soar and might even exceed supply over the next decade unless new mines are built. The demand increase is due to the ambitious energy transition goals set by governments.

On Wednesday, Sobotka told Bloomberg TV in an interview at the World Economic Forum’s Annual Meeting of New Champions that copper miners must increase supplies. He said new mines are “more challenging and located in expensive jurisdictions, which will require higher prices to offset increased costs.”

“You have this demand coming, and you have all these challenges in building out more mines,” Sobotka warned at the event in China’s Tianjin area. He forecasted that a “perfect storm” might unleash “another super cycle.”

Sobotka’s concerns were shared with billionaire mining investor Robert Friedland earlier this week. He told Bloomberg TV that the mining industry needs to increase supply ahead of ‘accelerating demand.’ He said deposits are getting more expensive and harder to find, funding is limited, and economies have to prepare for the importance of the mining industry to lead the energy transition.

“We’re heading for a train wreck here,” Friedland said at Bloomberg’s New York headquarters on Monday.

He’s the founder of Ivanhoe Mines Ltd. and warned: “My fear is that when push finally comes to shove,” copper prices might explode ten times.

BloombergNEF estimates demand for refined copper will grow 53% by 2040, but mine supply will climb only 16%.

In a separate report, S&P Global said electric vehicles require twice as much copper as an internal combustion engine vehicle. And noted copper demand will double to 50,000,000 metric tons annually by 2035, more than all the copper consumed worldwide between 1900 and 2021.

Copper prices have yet to sustain a breakout pattern over the past decade high and have recently slumped on a disappointing China economic recovery.

“Resource nationalism and the difficulties in moving materials around the world, critical raw material initiatives that are competing with each other, ESG requirements — they’re going to make delivering these volumes of materials in the future more difficult,” Sobotka pointed out.

In March, Jeff Currie, global head of commodities for Goldman Sachs, told Financial Times that copper’s “forward outlook is extraordinarily positive” and “peak supply occurring in 2024.”

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

THURSDAY MORNING//WEDNESDAY NIGHT

SHANGHAI CLOSED DOWN6.99 PTS OR 0.22% //Hang Seng CLOSED DOWN 237.69 PTS OR 1.24% /The Nikkei closed UP 40.15 OR 0.12% //Australia’s all ordinaries CLOSED UP 0.07 % /Chinese yuan (ONSHORE) closed UP 7.2353 /OFFSHORE CHINESE YUAN UP TO 7.2472 /Oil UP TO 69.88 dollars per barrel for WTI and BRENT UP AT 74.36 / Stocks in Europe OPENED MOSTLY 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 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

9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 2405 CONTRACTS DOWN TO 429,456 WITH OUR LOSS IN PRICE OF $1.15 ON WEDNESDAY,

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 5814 EFP CONTRACTS WERE ISSUED: : AUGUST 5814 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5814 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3409 CONTRACTS IN THAT 5814 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 2405 COMEX CONTRACTS..AND THIS FAIR SIZED GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $1.15//WEDNESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A STRONG 1080 CONTRACTS. THROUGHOUT LAST WEEK, THE BANKERS SOLD OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR SPREAD WHICH WILL BE LIQUIDATED TWO MONTHS HENCE)//THE HUGE NUMBER OF T.A.S. CONTRACTS INITIATED OVER THE PAST SEVERAL WEEKS SPELLS TROUBLE FOR THE GOLD/SILVER MARKET AS RAIDS WILL SURELY BE UPON US.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JUNE (64.354) ( ACTIVE MONTH)

TONNES),

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

DEC 2021: 112.217 TONNES

NOV. 8.074 TONNES

OCT. 57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE: 72.289 TONNES

MAY 5.77 TONNES

APRIL 95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022 17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT. 38.1158 TONNES

OCT: 77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL YEAR 656.076 TONNES)

2023:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 75.676 tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338

JUNE: 64.354 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL $1.15) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD OUR FAIR SIZED GAIN OF 3409 CONTRACTS ON OUR TWO EXCHANGES. WE HAD CONSIDERABLE TAS LIQUIDATION THROUGHOUT THE WEDNESDAY COMEX SESSION . THE TAS ISSUED WEDNESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE GAINED A TOTAL OI OF 10.603 PAPER TONNES OF TOTAL OI FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JUNE. (70.709 TONNES) FOLLOWED BY TODAY’S 2900 OZ QUEUE JUMP ..NEW STANDING RISES TO 64.354 TONNES // ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $1.15

WE HAD –REMOVED 387 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST AFTER TRADING ENDED LAST NIGHT

NET GAIN ON THE TWO EXCHANGES 3409 CONTRACTS OR 340,900 OZ OR 10.603 TONNES.

Estimated gold volume today:// 206,761 fair

final gold volumes/yesterday 175,351 poor

//JUNE 29/ FOR THE JUNE 2023 CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	160.755 OZ Brinks 5 kilobars .
Deposit to the Dealer* Inventory in oz*	47,898.320 oz Brinks
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	590 notice(s) 59,000 OZ 1.773 TONNES
No of oz to be served (notices)	0 contracts 0 oz 0 TONNES
Total monthly oz gold served (contracts) so far this month	20,690 notices 2,069,000 OZ 64.334 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

No dealer withdrawals

Customer deposits: 0

One dealer deposit:

i) Into Brinks 47,898.320oz

total dealer deposits: 47,898.320 oz

we had 0 customer deposit:

total deposits: nil oz

TOTAL Withdrawals: 1

i) out of Brinks 160.755 oz 5 kilobars

Adjustments; 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JUNE.

For the front month of JUNE we have an oi of 570 contracts having GAINED 34 contracts. We had 5 contracts served on Wednesday so we GAINED 29 contracts or an additional 2900 oz will stand for gold at the comex

The next front month after June is the non active delivery month of July. Here, July LOST 266 contracts to stand at 1739 contracts. We will probably have 180,000 oz stand for the new front delivery month (5.590 tonnes)

AUGUST LOST 5362 contracts DOWN to 341,690 contracts

We had 590 contracts filed for today representing 59000 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 590 contract(s) of which 6 notices were stopped (received) by j.P. Morgan dealer and 153 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 JUNE /2023. contract month,

we take the total number of notices filed so far for the month (20,640 x 100 oz ), to which we add the difference between the open interest for the front month of JUNE (570 CONTRACT) minus the number of notices served upon today 570 x 100 oz per contract equals 2,069,000 OZ OR 64.354 TONNES the number of TONNES standing in this active month of June.

thus the INITIAL standings for gold for the JUNE contract month: No of notices filed so far (20,640) x 100 oz + (xxx) {OI for the front month} minus the number of notices served upon today (590) x 100 oz) which equals 2,069,000 oz standing OR 64.354 TONNES

TOTAL COMEX GOLD STANDING: 64.354 TONNES WHICH IS HUGE FOR AN ACTIVE DELIVERY MONTH.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

total pledged gold: 2,063,541.609 OZ 64.18 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 22,389,083.544 OZ

TOTAL REGISTERED GOLD: 11,808,520.340 (367,29 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 10,580,563.204 O Z

REGISTERED GOLD THAT CAN BE SERVED UPON: 9,744,979.00 OZ (REG GOLD- PLEDGED GOLD) 303.109 tonnes//

END

SILVER/COMEX

JUNE 29//2023// THE JUNE 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	nil oz .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	3,001,096.103 oz Brinks CNT Delaware
No of oz served today (contracts)	34 CONTRACT(S) (170,000 OZ)
No of oz to be served (notices)	0 contracts (NIL oz)
Total monthly oz silver served (contracts)	886 Contracts (4,430,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposits

total dealer deposit: nil oz

total dealer deposits: 0

i) We had 0 dealer withdrawal

total dealer withdrawals: oz

We had 3 deposits customer account:

i) Into Brinks: 1,197,105.630 oz

ii) Into Delaware 602,867/290 oz

iii) Into CNT 1,201,123.183 oz

total customer deposits: 3,001,096.103 oz

JPMorgan has a total silver weight: 141.316 million oz/273.714 million =51.64% of comex .//dropping fast

Comex withdrawals 0

total withdrawals: nil oz

adjustments: 0

TOTAL REGISTERED SILVER: 32.171 MILLION OZ//.TOTAL REG + ELIGIBLE. 273.714 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE:

silver open interest data:

FRONT MONTH OF JUNE /2023 OI: 34 CONTRACTS HAVING GAINED 32 CONTRACT(S).

WE HAD 0 NOTICES FILED ON WEDNESDAY SO WE GAINED 32 CONTRACTS OR AN ADDITIONAL 160,000 OZ WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JUNE

JULY HAD A 9325 CONTRACT LOSS TO 7275 CONTRACTS. WE HAVE ONE MORE READING DAY BEFORE F.DN.

WE WILL PROBABLY HAVE A SMALL 17 MILLION OZ OF SILVER STAND FOR THE BIG JULY CONTRACT. THIS IS VERY POOR AND INDICATES THAT NO SILVER IS HERE FOR THEM TO BE DELIVERED UPON.

AUGUST GAINED 42 CONTRACTS TO STAND AT 373

SEPT HAS A GAIN OF 4615 CONTRACTS UP TO 98,087

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 34 for 170,000 oz

Comex volumes// est. volume today 60,981 good /

Comex volume: confirmed yesterday:72,766 strong

To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at 886 x 5,000 oz = 4,430,000 oz

to which we add the difference between the open interest for the front month of JUNE(34) and the number of notices served upon today 34 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JUNE/2023 contract month: 886 (notices served so far) x 5000 oz + OI for the front month of JUNE (34) – number of notices served upon today (34 )x 500 oz of silver standing for the JUNE contract month equates to 4.430 million oz + 0 EXCHANGE FOR RISK TODAY + 13.37MILLION OZ EXCHANGE FOR RISK (PRIOR)//NEW TOTAL: 17.800 MILLION OZ STANDING

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

END

GLD AND SLV INVENTORY LEVELS

JUNE 29/WITH GOLD DOWN $3.20 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.26 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 926.81 TONNES

JUNE 28/WITH GOLD DOWN $1.15 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 925.65 TONNES

JUNE 27/WITH GOLD DOWN $9.15 TODAY HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES OF GOLD FROM THE GLD./INVENTORY RESTS AT 925.65 TONNES

JUNE 26/WITH GOLD UP $4.65 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.6 TONNES OF GOLD FROM THE GLD/////INVENTORY RESTS AT 927.10 TONNES

JUNE 23/WITH GOLD UP $5.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: WITHDRAWALS OF 4.33 TONNES OF GOLD OVER THE PAST TWO DAYS. /INVENTORY RESTS AT 929.70 TONNES

JUNE 21/WITH GOLD DOWN $2.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY REST AT 934.03 TONNES

JUNE 20/WITH GOLD DOWN $22.40 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 934.03 TONNES

JUNE 16/WITH GOLD UP $0.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 4.33 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 934.03 TONNES

JUNE 15/WITH GOLD UP $2.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.74 TONNES OF GOLD FROM THE GLD//INVENTORY RESTS AT 929.70 TONNES

JUNE 14/WITH GOLD UP $10.30 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 931.44 TONNES

JUNE 13/WITH GOLD DOWN $10.30 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.01 TONNES FORM THE GLD///INVENTORY RESTS AT 931.44

JUNE 12/WITH GOLD DOWN $7.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 934.65 TONNES

JUNE 9/WITH GOLD DOWN $1.00: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 934.65 TONNES

JUNE 8/WITH GOLD UP $20.45 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.46 TONNES FROM THE GLD///INVENTORY RESTS AT 934.65 TONNES

JUNE 7 WITH GOLD DOWN $22.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 938.11 TONNES

JUNE 6/WITH GOLD UP $6.90 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 939.56 TONNES

JUNE 5/WITH GOLD UP $5.00 TODAY : NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 938.11 TONNES

JUNE 2/WITH GOLD DOWN $24.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES FROM THE GLD///INVENTORY RESTS AT 938.11 TONNES

JUNE 1/WITH GOLD UP $14.10 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 939.56 TONNES

MAY 31/WITH GOLD UP $5.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD///INVENTORY RESTS AT 939.56 TONNES

MAY 30/WITH GOLD UP $14.55 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 941.29 TONNES

MAY 26/WITH GOLD UP $.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY REST AT 941.29 TONNES

MAY 25/WITH GOLD DOWN $19.70 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 941.29 TONNES

MAY 24/WITH GOLD DOWN $9.50 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.45 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 941.29 TONNES

MAY 23/WITH GOLD $2.25 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 942.74 TONNES

MAY 22/WITH GOLD DOWN $4.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.83 TONES OF GOLD INTO THE GLD DESPITE THE L0SS IN PRICE//INVENTORY RESTS AT 942.74 TONNES

MAY 19/WITH GOLD UP $22.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 936.96 TONNES

MAY 18/WITH GOLD DOWN $23.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.02 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 936.96 TONNES

MAY 17/WITH GOLD DOWN $8.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .87 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 934.94 TONNES

MAY 16/WITH GOLD DOWN 28.05 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.57 TONNES OF GOLD FROM THE GLD///INVENTORY RESTS AT 934,07

MAY 15/WITH GOLD UP $2.85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 937.64 TONNES

MAY 12/WITH GOLD DOWN $.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.89 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 937.84 TONNES

MAY 11/WITH GOLD DOWN $15.15 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD//INVENTORY RESTS AT 934.95 TONNES

MAY 10/WITH GOLD DOWN $5.00 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.70 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 934.95 TONNES

GLD INVENTORY: 926.81 TONNES

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

JUNE 29/WITH SILVER DOWN 23 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.763 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 466.764 MILLION OZ//

JUNE 28/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 470.527 MILLION OZ//

JUNE 27/WILVER SILVER UP 7 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 734,000 OZ INTO THE SLV////INVENTORY RESTS AT 470.527 MILLION OZ

JUNE 26/WITH SILVER UP 44 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY REST AT 469.793 MILLION OZ.

JUNE 23/WITH SILVER DOWN 9 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A NET DEPOSIT OF 6.61 MILLION OZ INTO THE SLV OVER THESE PAST TWO DAYS//INVENTORY RESTS AT 469.793 MILLION OZ//

JUNE 21/WITH SILVER DOWN $.40 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 5.784 MILLION OZ OF SILVER INTO THE SLV////INVENTORY RESTS AT 463.183 MILLION OZ//

JUNE 20/WITH SILVER DOWN 89 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 463.183 MILLION OZ//

JUNE 16/WITH SILVER UP 23 CENTS TODAY :SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 459,000 OZ FROM THE SLV///INVENTORY RESTS AT 463.183 MILLION OZ

JUNE 15/WITH SILVER DOWN 17 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.377 MILLION OZ OF SILVER FROM THE SLV////INVENTORY RESTS AT 463.642 MILLION OZ//

JUNE 14/WITH SILVER UP 29 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 735,000 OZ FROM THE SLV///INVENTORY RESTS AT 465.019 MILLION OZ//

JUNE 13/WITH SILVER DOWN 25 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.515 MILLION OZ OF SILVER FROM THE SLV///INVENTORY RESTS AT 465.754 MILLION OZ//

JUNE 12/WITH SILVER DOWN 26 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 467.269 MILLION OZ//

JUNE 9/WITH SILVER UP 7 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF SILVER TO THE TUNE OF 550,000 OZ//INVENTORY RESTS AT 467.269 MILLION OZ

JUNE 8/WITH SILVER UP $0.63 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 467.819 MILLION OZ/

JUNE 7/WITH SILVER DOWN 17 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.01 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 467.819 MILLION OZ/

JUNE 6/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 466.809 MILLION OZ//

JUNE 5/WITH SILVER DOWN $.13 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 266,000 OZ FROM THE SLV////INVENTORY RESTS AT 466.809 MILLION OZ/

JUNE 2/WITH SILVER DOWN 23 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 918,000 OZ FROM THE SLV./INVENTORY RESTS AT 467.015 MILLION OZ/

JUNE 1/WITH SILVER UP 49 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 467.933 MILLION OZ

MAY 31/WITH SILVER UP 37 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 367,000 OZ FROM THE SLV////INVENTORY RESTS AT 467.933 MILLION OZ//

MAY 30/WITH SILVER DOWN 9 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 468.300 MILLION OZ//

MAY 26/WITH SILVER UP $0.44 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 3.306 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 468.300 MILLION OZ//

MAY 25.WITH SILVER DOWN $0.32 TODAY; SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 276,000 OZ INTO THE SLV////INVENTORY RESTS AT 471.606 MILLION OZ//

MAY 24/WITH SILVER DOWN $.35 TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 471.330 MILLION OZ//

MAY 23/WITH SILVER DOWN 22 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.801 MILLION OZ INTO THE SLV///INVENTORY RESTS AT 471.330 MILLION OZ//

MAY 22/WITH SILVER DOWN 19 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 468.529 MILLION OZ//

MAY 19/WITH SILVER UP 38 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 468.529 MILLION OZ

MAY 18/WITH SILVER DOWN 23 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 919,000 OZ FROM THE SLV////INVENTORY RESTS AT 468.529 MILLION OZ/

MAY 17/WITH SILVER DOWN 2 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 469.448 MILLION OZ//

MAY 16/WITH SILVER DOWN 34 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF .643 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 469.448 MILLION OZ.

MAY 15/WITH SILVER UP 13 CENTS TODAY; NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 470.091 MILLION OZ/

MAY 12/WITH SILVER DOWN $.26 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 3,123 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 470.091 MILLION OZ./

MAY 11/WITH SILVER DOWN $1.18 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 466.968 MILLION OZ

MAY 10/WITH SILVER DOWN 23 CENTS TODAY; HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.286 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 466.968 MILLION OZ//

CLOSING INVENTORY 466.764 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

end

2 Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens//JAMES RICKARDS//JOHN RUBINO

END

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

This is a very important interview for you to see where Chris Powell of GATA is interviewed by Burack of Wall Street for Main Street

(courtesy GATA)

In talk with Wall Street for Main Street, GATA secretary reviews GATA’s work

Submitted by admin on Wed, 2023-06-28 20:20Section: Daily Dispatches

8:20p ET Wednesday, June 28, 2023

Dear Friend of GATA and Gold:

Interviewed today by Jason Burack of Wall Street for Main Street, your secretary/treasurer reviewed GATA’s documentation of central bank intervention and particularly U.S. government intervention in the monetary metals markets, the likelihood that all major governments are aware of it, the refusal of mainstream financial news organizations to report about it, and why most monetary metals mining companies are too scared to acknowledge and protest it.

The interview is 58 minutes long and can be heard at YouTube here:

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

END

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/

Steve Brown..

Prigozhin: Bitcoin Need Not Apply

Futures Rise As Fed Stress Test Reassures Banks Are Fine

THURSDAY, JUN 29, 2023 – 08:09 AM

S&P 500 futures are higher, rising above Wednesday highs despite hawkish commentary from Powell at Sintra who left open the option for consecutive hikes while trying to keep soft landing hopes alive and the big 4 central banks reiterated their view that more tightening is needed to cure inflation. Risk appetite was stoked by Wednesday’s Federal Reserve’s stress tests which saw all banks pass as usual (no surprise there), but calculated that they would suffer losses of over $500 billion in a bad recession. Nasdaq futures outperform, boosted by Micron which gained more than 3% in pre-market trading after it reported third-quarter results that came ahead of expectations, and provided an upbeat fiscal fourth-quarter forecast.

As of 7:45am, S&P futures are higher by 0.3% to 4,431 while Nasdaq 100 futures rose 0.4%. KRE +1.4%, XLF +64bps pre-market. AAPL market cap reaches $2.977T, just 78bps away from hitting ~$3trn mkt cap. For context, $3trn is larger than the market cap of 5 entire GICS sectors – not combined – REITs, Mats, Utes, Energy, Cons Staples. Treasury yields have ticked higher across the curve, while the Bloomberg dollar index strengthens slightly. Gold prices are flat while oil reverses earlier losses. Iron ore meanwhile is continuing its winning streak for a third day. Today’s macro data is the latest revision to Q1 GDP, Consumption, and PCE as well as the latest Jobless/Continuing Claims and Pending Home Sales.

Strong GDP Sparks Surge In Rate-Hike Odds: Bonds, Big-Tech, & Bullion Battered

THURSDAY, JUN 29, 2023 – 09:15 AM

A bizarre surge in exports (came out of nowhere) sent Q1 GDP jumping to 2.0% this morning (in its 3rd look), and that is very much not what the market was looking for.

Rate-hike expectations soared with markets now pricing in a 50% or so chance of 2 more rate-hikes by year-end…

Which sparked a serious flattening in the yield curve (deeper inversion), erasing almost all of the SVB steepning…

Finally, the dollar rallied on the hawkish reaction in rates…

Nomura’s Charlie McElligott asked yesterday (reflecting oin the equity market meltup) – So what would it take to blow this thing out?

His answer may well be worth paying attention to this morning…

Just spitballing…

Perhaps what is required (easier said than done!) is a proper “Correlation 1” event where the current dispersion wave reverses, especially if Grosses keep growing – potentially requiring some sort of AI crunch from the Long side (earnings expectations mania overshoots reality? – seems too early for that just yet)…

…or maybe from the Short-side, where US economic data does indeed see that aforementioned “animal spirits” trade and actually reaccelerates to such an extent that markets either begin adding-in fresh terminal rate…

…OR where heavily-short economically sensitives begin trading “early cycle” and get grabbed-into / painfully.squeezed.

end

2 b) NOW NEWSQUAWK (EUROPE/REPORT)/ASIA REPORT

ES holds above 4,400, Fed’s Chair Powell spoke in Madrid, Riksbank hiked 25bps – Newsquawk US Market Open

THURSDAY, JUN 29, 2023 – 05:35 AM

European bourses trade with little in the way of firm direction following a similarly indecisive close on Wall Street yesterday.
US equity futures are around flat with the ES holding above the 4400 mark.
Fed Chair Powell revealed his expectations for Friday’s PCE data (Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9%) and remarked that a strong majority of Fed policymakers see two or more rate rises by the end of this year.
Fed said 23 banks tested showed projected losses of USD 541bln in stress tests but maintain capital ratios well above the required levels.
Sweden’s Riksbank hiked by 25bps as expected, while forecasts expect at least one more hike this year and increased the pace of bond sales.
Looking ahead, highlights include German CPI, US PCE Prices (Final), IJC & GDP (Final), remarks from BoE’s Tenreyro

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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EUROPEAN TRADE

EQUITIES

European bourses trade with little in the way of firm direction following a similarly indecisive close on Wall Street yesterday.
US equity futures are around flat with the ES holding above the 4400 mark. In terms of newsflow, markets were treated to another set of remarks from Fed Chair Powell, where he revealed his expectations for Friday’s PCE data (Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9%) and remarked that a strong majority of Fed policymakers see two or more rate rises by the end of this year.
Equity sectors in Europe are mixed with Autos top of the leaderboard, supported by Renault after the Co. raised its FY 23 outlook for group operating margins and automotive operational FCF. Retail is another leading sector amid gains in H&M after Q2 profits exceeded estimates and noted that Q3 has seen a “good start”. To the downside, Travel & Leisure, Chemicals and Industrials lag peers.
Click here and here for a recap of the main European updates.
Click here for more detail.

FX

DXY lost a bit of momentum after its firm midweek bounce as several rivals recovered some poise on the back of supportive macro fundamentals, while the Yuan benefited from reports of more Chinese state bank buying and the Yen got a boost from another verbal riposte by Japanese Finance Minister Suzuki.
Yen saw some sudden strength at one point with no notable headlines to drive price action at the time but with participants cognizant of Japanese MoF presence.
Aussie outperforms following an overnight boost from the much firmer-than-expected Aussie Retail Sales.
EUR/SEK was extremely volatile within 11.8175-11.7140 extremes in wake of the Riksbank opting to stick with guidance for a 25 bp hike, as the repo rate path was ratcheted higher and the two dovish dissenters refrained from objecting this time.
Click here for more detail.
Click here for more detail.

FIXED INCOME

Sellers into upticks have dominated price bond action across bonds and the general direction.
Eurozone inflation data has surprised to the upside, latest remarks from Fed Chair Powell had a hawkish twist and the Riksbank continued its tightening cycle with a loftier rate path for the rest of 2023.
Bunds, Gilts and the T-note hover just above intraday lows.
Click here for more detail.

COMMODITIES

WTI and Brent futures have tilted modestly firmer on the session after a horizontal APAC session, with the sector buoyed by this week’s inventory data.
Spot gold is subdued given the strengthening of the Dollar seen this week, with the yellow metal hovering just north of the USD 1,900/oz mark as it returned to levels seen mid-March.
Base metals are softer across the board amid the recent hawkish central bank commentary, whilst concerns surrounding China’s economic recovery remains a grey cloud.
Click here for more detail.

NOTABLE US HEADLINES

Fed Chair Powell reiterated that a strong majority of Fed policymakers see two or more rate rises by the end of this year. Powell said Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9% (note: in-line with street expectations; data released on Friday), via Reuters. Click here for more comments.
Fed said 23 banks tested showed projected losses of USD 541bln in stress tests but maintain capital ratios well above required levels, while the stress tests showed large banks are well positioned to continue lending in a severe recession and their trading books were resilient to a rising rate environment.
US Treasury Secretary Yellen said the Treasury is monitoring the commercial real estate sector very closely and expects some losses to banks from changes in commercial real estate. Yellen said the US will address supply chain risks in areas such as EV, minerals and solar panels, while she also commented that inflation is now about 5% but remains too high.

NOTABLE EUROPEAN HEADLINES

ECB’s Centeno said “we are reaching the time when monetary policy may pause and that we are very close”, according to Reuters.
ECB’s de Cos said ECB September meeting is absolutely open regarding interest rates, according to Reuters.
Swedish Riksbank Rate 3.75% vs. Exp. 3.75% (Prev. 3.5%); forecast expects at least one more hike this year and increased the pace of bond sales – Click here for the full release.

EUROPEAN DATA RECAP

German State CPIs all saw upticks vs priors, although this is in-fitting with the expectations for the national print at 13:00BST/08:00EDT.
Spanish CPI MM Flash NSA (Jun) 0.6% vs. Exp. 0.3% (Prev. 0.0%)
Spanish CPI YY Flash NSA (Jun) 1.9% vs. Exp. 1.7% (Prev. 3.2%)
Spanish Core CPI YY 5.9% (Prev. 6.1%)
UK Mortgage Approvals (May) 50.524k vs. Exp. 49.7k (Prev. 48.69k)
UK BOE Consumer Credit (May) 1.144B GB vs. Exp. 1.5B GB (Prev. 1.586B GB)
UK M4 Money Supply (May) 0.2%
UK Mortgage Lending (May) -0.092B GB vs. Exp. -0.5B GB (Prev. -1.384B GB)
EU Business Climate (Jun) 0.06 (Prev. 0.19)
EU Consumer Confid. Final (Jun) -16.1 vs. Exp. -16.1 (Prev. -16.1)
EU Services Sentiment (Jun) 5.7 vs. Exp. 5.5 (Prev. 7.0)
EU Economic Sentiment (Jun) 95.3 vs. Exp. 96.0 (Prev. 96.5)
EU Industrial Sentiment (Jun) -7.2 vs. Exp. -5.5 (Prev. -5.2)
EU Selling Price Expec (Jun) 4.4 (Prev. 6.6)
EU Cons Infl Expec (Jun) 6.1 (Prev. 12.2)

CRYPTO

Bitcoin is modestly firmer on the day but remains under USD 30,500 while Ethereum trades on either side of USD 1,850.

GEOPOLITICS

EU is preparing to offer ‘security commitments’ to Ukraine although some member states are reportedly wary of the French-led plan to offer Kyiv assurances, while it was also reported that Denmark said the EU should not lower the bar to take in Ukraine, according to FT.
Israeli PM Netanyahu said he wants to find a middle ground on court-system changes in Israel and regarding Ukraine, while he added Israel couldn’t allow the US to give Ukraine the Iron Dome air-defence system developed jointly with the US and he has conveyed his concerns to Russia about growing military ties with Iran, according to WSJ.

APAC TRADE

APAC stocks traded mixed amid some indecision heading closer towards month/quarter/ half-year end and after the choppy performance stateside as global markets digested the slew of central bank rhetoric from the Sintra Forum.
ASX 200 was kept afloat as strength in the tech and telecom sectors offset the losses in utilities, real estate and miners, with some encouragement also from better-than-expected Australian Retail Sales.
Nikkei 225 extended on gains and briefly climbed back above 33,500 as it coat-tailed on the recent advances in USD/JPY and after Japanese Retail Sales topped forecasts.
Hang Seng and Shanghai Comp were subdued amid ongoing frictions and the potential for additional US tech export restrictions on China but with losses in the mainland cushioned by the PBoC’s liquidity efforts.

NOTABLE ASIA-PAC HEADLINES

PBoC set USD/CNY mid-point at 7.2208 vs exp. 7.2540 (prev. 7.2101)
Chinese state banks spotted selling USD in onshore currency markets at around the 7.25 mark, according to sources cited by Reuters.
Chinese Regulators are stepping up Yuan surveys “as currency slump worsens”, according to Bloomberg; stepping up scrutiny of currency trading and cross-border capital flows.
US Treasury Secretary Yellen said the US will continue to take actions to protect national security interests with regards to China even if that imposes some economic cost, while she hopes to travel to China and wants to re-establish contact, as well as discuss disagreements, according to an interview with MSNBC.
Top US diplomat for East Asia Kritenbrink said they have seen a clear and upward trend of Chinese coercion in the South China Sea and China’s provocative behaviour poses risks for businesses, while Kritenbrink also said the US and China discussed ways to increase commercial flights in a phased manner.
Chinese Embassy Spokesman Liu Pengyu said US and China working groups will discuss the journalist issue and said China has not seen positive US initiatives on semiconductors, while Liu added that the US must remove sanctions before military talks with China.
Chinese balloon that flew over the US earlier this year reportedly used American-made equipment to spy on Americans, while preliminary US findings showed the craft collected photos and videos but didn’t appear to transmit them, according to WSJ.
US officials reportedly consider tightening the export of AI chips to China based on computing power in which an update to the rules may come by late July, according to Reuters sources, although one source cautioned that such US actions involving China often get delayed.
Nvidia (NVDA) CFO said they are aware of reports on new China export restrictions but expect no material change to earnings from rules, while the CFO added that China accounts for 20%-25% of Data Centre sales and the China export ban will result in a loss of opportunities.
Japan Finance Minister does not comment on FX levels; one-sided and unstable moves are undesirable; will not rule out any options if FX moves are excessive. Japan and South Korea agreed to resume a bilateral currency swap deal worth USD 10bln, according to Reuters.
China issued measures to promote opening in some free trade zones and ports on a pilot basis to meet high international standards, according to Reuters.

DATA RECAP

Japanese Retail Sales MM (May) 1.3% vs Exp. 0.8% (Prev. -1.1%)
Japanese Retail Sales YY (May) 5.7% vs. Exp. 5.4% (Prev. 5.0%)
Australian Retail Sales MM (May) 0.7% vs. Exp. 0.1% (Prev. 0.0%)
New Zealand ANZ Business Confidence (Jun) -18.0% (Prev. -31.1%)
New Zealand ANZ Activity Outlook (Jun) 2.7% (Prev. -4.5%)

2 c. ASIAN AFFAIRS

ASIAN AND AUSTRALIAN CLOSINGS//EUROPE OPENING TRADING:

THURSDAY MORNING/WEDNESDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

///NORTH KOREA/SOUTH KOREA/

2e) JAPAN

JAPAN

END

3 CHINA /

CHINA/JAPAN

This is a great read. Famed Richard Koo strongly believes that China will “Japanify” as its debts soar!

(Xie/Bloomberg/Koo)

“Balance-Sheet Recession” Guru Warns Japanification Is Coming To China

WEDNESDAY, JUN 28, 2023 – 11:40 PM

By Ye Xie, Bloomberg Markets Live reporter and strategist

Richard Koo has become an unexpected celebrity in China these days. All of a sudden, the work of the economist who coined the phrase “balance-sheet recession” to describe the root cause of Japan’s lost decade is highly relevant to what’s happening in China.

What the Nomura Research Institute economist sees isn’t encouraging: It may take Chinese companies and households many years to cut down debt and restore financial health in a “very painful process.”

The concept of a balance-sheet recession, which Koo came up with in the 1990s, is simple. After asset markets turn from boom to bust, households and companies need to save to pay down debt. When they do it at the same time, no one spends, which sucks the oxygen out of the economy. In response, the government should step in as the borrower and spender of last resort.

This week, Koo offered his diagnosis on China. In a speech that went viral on social media, he made a few comparisons between China and Japan’s situation three decades ago. He concluded that the fate of Japanification is highly likely. (The transcript of his speech hasn’t been independently verified, but the view is consistent with his recent interview on CNBC.)

He noted that both countries experienced a similar housing boom. Once the bubble bursts, the balance-sheet recession starts. The good news, in his view, is that policymakers in Beijing were aware of the issue early on, which makes it likely they will respond to it more quickly than Japan did.

The bad news is that China faces a bigger challenge than Japan did three decades ago. For starters, China’s economy is more reliant on the construction industry. At 26% of GDP, the size of the sectors are comparable in both countries. But the strength of other Japanese industries, such as auto and tech, softened the blow. Unfortunately, China doesn’t have similar industries that could fill in the void left by the housing slump.

What’s particularly puzzling to Koo is that China’s deleveraging seemed to have started well before the housing bust in 2020. Corporations have stopped borrowing at times since 2015, suggesting something else has sapped the animal spirits of the private sector. (The timing coincided with the government’s supply-side reform that targeted eradicating overproduction capacities in various industries.)

Also, China is facing greater geopolitical risks. While Japan also had economic frictions with the US in the 1990s, the conflict was limited to the trade sector. In China’s case, a full-blown decoupling with the West would mean the nation could only export to poorer economies that make up just 27% of global GDP, which would hold down its growth.

What makes it even trickier is that China’s population started to shrink at the same time that the housing industry went from boom to bust. In Japan, the population started to decline nearly two decades after the bubble burst. Throw in regulatory uncertainties and lack of subsidies during the pandemic, and Beijing has a bigger problem on its hands.

What should Beijing do? Don’t waste time on monetary policies, or structural reforms. Instead, focus all energy on fiscal stimulus to keep the economy going, Koo advised. Meanwhile, complete all the unfinished housing projects “at any cost” to avoid a collapse.

To end the speech, he said: “I hope Chinese policymakers understand and respond to these challenges, because this might be the last chance for China to reach the living standards of the First World.”

Coming from the man who arguably understands the subject more than anyone else, this is quite a warning to policymakers in Beijing.

end

4.EUROPEAN AFFAIRS//UK /SCANDAVIAN AFFAIRS

Simon White is excellent in describing money supply trends. He looks at M1, and M2 to determine where

Europe is heading. M2 is rising fast which includes saving deposits. Higher interest on these indicates why this is so. However locked up money cannot increase growth. He calls for the EU to dial back their hawkishness.

(Simon White//Bloomberg)

Money Trends In Europe Leave ECB’s Renewed Hawkishness In Doubt

THURSDAY, JUN 29, 2023 – 07:20 AM

Authored by Simon White, Bloomberg macro strategist,

Money growth in Europe continues to decelerate, suggesting that the recent amplification of the ECB’s hawkishness will be dialed back down sooner than the market currently projects.

M3 money for Europe showed a deceleration to 1.4% year-on-year in May from 1.9% the previous month, according to data released earlier. More consequential for economic activity is lower forms of money, especially M1. The latter is mainly made up of demand deposits – i.e. deposits created when new loans are made, and deposits that are ready to be deployed into the real economy.

Real M1 growth continues its steep decline. Soft data in Europe such as PMIs had been surprising to the upside previously but are now catching down to hard data such as money growth. As the chart below shows, the fall in real M1 growth points to a continuation of weakening growth in Europe.

Higher forms of money tend to be counter-cyclical. For instance M2 minus M1 is rising sharply as savings deposits are rising. Savings accounts offer a higher rate of interest, which is attracting deposits. But money being locked up for saving purposes cannot boost economic activity.

Curiously, economists in the aggregate don’t seem to follow M1 as a leading indicator. If they did, then we shouldn’t see the leading relationship between real M1 growth and economic surprises in the chart below.

As the chart shows, we should expect economic data from Europe in the coming months to increasingly disappoint.

This leaves the ECB’s recent amping up of its hawkish rhetoric vulnerable to being eased back again as the data deteriorates, and inflation continues to fall in the coming months at a decent clip (as projected by fixing swaps).

Like the Fed, the ECB is using “talk” to bend the rates curve to its will, i.e. “higher for longer”.

Thus far the Euribor curve has been listening, with the December 2023 vs December 2024 steepening.

But weaker-than-expected growth could soon convince the market cuts are coming sooner than the ECB is currently intimating, re-flattening the curve.

END

GERMANY /RHINE RIVER

Europe’s most important inland river is at its lowest level in decades and that is sparking supply chain fears.

(zerohedge)

Chokepoint On Europe’s Most Critical Waterway Hits Lowest In Decades, Sparking Supply Chain Fears

THURSDAY, JUN 29, 2023 – 05:45 AM

A section of Europe’s most important inland waterway for transporting fuel and other industrial goods has fallen to levels not seen in three decades for this time of the year and might be an ominous sign of incoming supply chain disruptions on the inflation-battered continent if hot weather and dryness persist through summer.

The Rhine Waterways and Shipping Authority (WSA) has yet to issue any alerts for the Rhine River, but data from the closely watched Kaub chokepoint shows the water level around 1.26 meters on Wednesday.

On a seasonal basis, Kaub water levels haven’t been this low in three decades, indicating that barge disruption could be ahead for the second year.

We followed the chaos last summer as German shippers halted barge operations due to low water levels at Kaub.

Already, barges hauling heating oil fuel from the Rotterdam area beyond Kaub have seen cargo loads nearly halved from 2,000 tons of fuel to 1,200 tons in a week, according to Riverlake Barging data.

Declining Kaub water levels have begun to push up barge prices.

If Rhine supply chain woes materialize later this summer, then this will be bad news for the European Central Bank’s fight against inflation. At the same time, the continent entered a recession earlier this year.

END

FRANCE

We knew that this was coming: 745 of the French believe that there are too many migrants in France and they want a referendum to deal with it

(zerohedge)

Immigration Crisis: 74% Of French Believe There Are Too Many Migrants In France, 72% Want Referendum

THURSDAY, JUN 29, 2023 – 05:00 AM

Authored by John Cody via Remix News,

A new poll conducted for top French newspaper Le Figaro shows that nearly three out of four French people believe there are too many migrants in the country, with the poll results coming after the country accepted a record number of foreigners in 2022 under President Emmanuel Macron.

The Odoxa-Backbone Consulting poll shows that at nearly every level, the French want stricter immigration controls, more deportations, and even a referendum on immigration into France.

It further shows that French people are becoming increasingly opposed to mass immigration, with 74 percent saying there are too many immigrants in France. This represents an 11-point increase from when the poll was conducted five years ago.

This holds true for supporters of National Rally (97 percent), Republicans (91 percent), Renaissance (68 percent) and even Socialists (52 percent) and Greens (51 percent). Only supporters of Jean-Luc Mélenchon’s left-wing La France Insoumise are in the minority (44 percent) when asked if there are too many migrants in France.

The poll additionally shows that 79 percent of French want asylum seekers to have their requests decided on before they are allowed to enter French territory. Seventy-four percent also believe that immigration quotas should be set each year by the French parliament, and 72 percent believe that migration policy should be decided by a referendum.

The French also want to make the country less socially attractive for migrants (68 percent), to include the principle of assimilation in the Constitution (66 percent) and even to derogate from the European treaties (62 percent).

Interestingly, not only did a majority of Les Republicans, National Rally and Reconquête voters all take a hardline view on immigration, but also supporters from Macron’s party Renaissance did as well. All of the respondents were highly critical of Macron’s handling of the issue of immigration, with the exception of voters who approve of Macron.

On the issue of refugees fleeing persecution in their country, 55 percent say France should accept them, but this is a 10-point drop from five years ago.

The French, however, welcome proposals to better integrate migrants in the country, including supporting the creation of a residence permit for undocumented workers with jobs that employers need filled (58 percent) and allowing asylum seekers to access jobs (58 percent).

“On immigration, French people’s thinking is finally ‘complex’, a sort of ‘at the same time’ reduce the number of arrivals but also show ourselves more inclusive for immigrants already on our territory,” concludes Céline Bracq, Odoxa’s managing director.

During an appearance on the Europe 1 television station this month, the mayor of the French city of Cannes, David Lisnard, warned that immigration has become a major problem in France after it accepted a record 500,000 migrants last year. He says the government must bring immigration under control or risk societal consequences.

“It is communication itself that creates the problem. Immigration has become a major problem in France, we received more or less 600,000 people last year — 600,000. This is a (new) record. Hence, we must close the taps on immigration today, in the interest of the balance of French society,” said Lisnard.

END

SWITZERLAND/GERMANY/UKRAINE

This is interesting…..

Switzerland Cites Neutrality In Blocking Nearly 100 German Tanks For Ukraine

THURSDAY, JUN 29, 2023 – 04:15 AM

Switzerland is seeking to defend its neutrality, blocking German tanks from reaching the war zone in Ukraine. Ruag AG, which is headquartered in Bern, Switzerland – sought government permission to sell nearly 100 tanks to Kiev for its war against Russia.

But the major Swiss arms maker and aerospace engineering company has been denied the requestion, with the government saying it would be “inconsistent with applicable law” concerning arms deliveries to an active conflict zone. Image source: Dreamstime

Swiss officials in the context of the announcement cited the small central European country’s historic neutrality.

“The rejection applies to 96 non-operational Leopard 1 tanks currently stored in Italy, which are property of Ruag,” Bloomberg reported Wednesday. “The proposal was for the vehicles to be refurbished in Germany and then sent to Ukraine.”

And according to more details:

The announcement on Wednesday is unconnected to a separate sale of 25 Leopard 2 tanks of the Swiss army, which are supposed to go to German company Rheinmetall AG.

The latter deal recently won the support of the Swiss government and is expected to go through by next year. In this case, Germany has promised not to send the tanks to Ukraine, but to keep them at home to fill gaps in its own military.

But Switzerland certainly has a clear stance on the Russia-Ukraine war, given it has joined and expanded European sanctions against Russian entities.

Reuters confirmed Wednesday, “Switzerland has expanded financial and travel sanctions against Russian entities and persons in step with the most recent sanctions imposed by the European Union on Moscow after the invasion of Ukraine.”

A number of recent reports have meanwhile described Switzerland as a hotspot of both Russian and Chinese spying. Switzerland’s main intelligence agency, the Federal Intelligence Service (FIS), issued a statement this week saying, “In Europe, Switzerland is one of the states with the highest numbers of Russian intelligence officers operating under diplomatic cover, in part due to its role as a host to international organizations.”

But this actually remains a common practice especially for large powers, including the US, UK and other Western nations.

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

RUSSIA/WAGNER

NATO states that the Wagner group in Belarus threatens Eastern Europe

(zerohedge)

Wagner Troops In Belarus Threaten Eastern Europe, NATO Says

THURSDAY, JUN 29, 2023 – 02:45 AM

Just after the weekend of chaos in southern Russia due to the short-lived Wagner march on Moscow, NATO Secretary-General Jens Stoltenberg, mused before reporters in Lithuania: “I think what we’re seeing in Russia over the last days demonstrates the fragility of the [Russian] regime, and, of course, it is a demonstration of weakness.” He further claimed, “We see the weakness of the Russian regime and it also demonstrates how difficult and dangerous it is for President Putin.”

In follow-up, on Wednesday Stoltenberg and other NATO officials commented on the presence of Wagner Group in Belarus, following its founder and chief, Yevgeny Prigozhin, having landed in Minsk in his private jet on Tuesday. Belarusian President Alexander Lukashenko had teased the possibility of Wagner Group being activated inside his territory, in support of Belarusian armed forces. Via AFP

Both Stoltenberg and Lithuanian President Gitanas Nauseda have responded to these reports, expressing alarm over “instability” in the region, and threat of attacks from mercenaries.

“If Wagner deploys its serial killers in Belarus, all neighboring countries face even bigger danger of instability,” the Lithuanian president said.

Stoltenberg agreed there’s reason to be alarmed, though he said it’s “too early” to say what Wagner in Belarus could mean for NATO, but reaffirmed the alliance will protect “every ally, every inch of NATO territory” against threats from either “Moscow or Minsk.”

“We have already increased our military presence in the eastern part of the alliance and we will make further decisions to further strengthen our collective defense with more high-readiness forces and more capabilities at the upcoming summit,” Stoltenberg said.

The major NATO summit, where Sweden’s potential membership will also be high on the agenda, is set to be hosted in Vilnius July 11-12. Germany has meanwhile committed 4,000 more troops to be stationed in Lithuania as part of a combined force.

Polish President Andrzej Duda has expressed that Wagner in Belarus should be a discussion point regarding security on NATO’s eastern flank. “This is really serious and very concerning, and we have to make very strong decisions. It requires a very, very tough answer of NATO,” Duda said.

Russia’s President Putin in a series of public statements this week confirmed that a deal had been made with Wagner and its now exiled leader: Wagner fighters now have the option of signing a contract with the defense ministry, or “they can go to Belarus,” in the president’s words.

end

RUSSIA/UKRAINE//USA

https://open.substack.com/pub/seymourhersh/p/prigozhins-folly?r=184d63&utm_medium=ios&utm_campaign=post

Seymour Hersh

Best writing so far on the Wagner saga.

end

McGregor tells the way it is

end

END

Late in the day:

Kremlin Reportedly Detains “General Armageddon” In Crackdown Of Prigozhin Pals, Daughter Denies

THURSDAY, JUN 29, 2023 – 03:00 PM

With political experts and pundits still trying to grasp and explain the events that rocked Russia this weekend, yesterday two major updates involving one of the top players in Russian chessgame added even more complexity to the bigger picture: first the NYT reported (citing US intel sources) that Gen. Sergei Surovikin, also known as “General Armageddon”, the former top Russian commander in Ukraine and prior to that the commander of Russian forces in Syria, had foreknowledge that an armed Wagner uprising was coming. This was followed by FT Moscow correspondent Max Seddon who highlighted reports that Surovikin’s whereabouts are unknown (despite claims to the contrary by his daughter: see below), hinting that he may have been detained by Putin for his tacit complicity with coup-plotter Prigozhin.

Fast forward to today when the mystery surrounding the fate of Surovikin escalated after the same FT journalist reported that Surovikin “has been detained” as the Kremlin cracks down on Wagner sympathizers following the militia’s failed mutiny last week.

Surovikin, a senior Russian general known to have a good relationship with Wagner’s leader Yevgeny Prigozhin, has not been heard from for several days and has been detained, according to sources in Russia’s elite and western government officials familiar with the matter.

Of course, any report that cites conflicted “western government officials” and certainly even more conflicted “Russian elites” as a source should be taken with a mountain of salt, especially since the deputy commander of Russia’s invasion force in Ukraine and head of its aerospace forces has not been officially charged as a plotter in the uprising; according to Seddon it is also not known if Surovikin has been detained for interrogation, or where he is being held, if he is indeed being held somewhere.

While the Kremlin has declined to address the mounting rumors or explain where the general is, his daughter Veronika claimed “everything is fine” with her father, pouring cold water on the report of his disappearance.

“Honestly, no, nothing has happened to him, he’s at work,” she told Russian news outlet Baza. “When did he appear in the media every day? He never made any statements every day,” she added. “As I understand, everything is sort of flowing as things normally happen. Everyone is at their workplace, everything is fine.”

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Undeterred by the denial, the FT is pushing through the narrative that Putin has begun a clean-up operation at the top of the security services (citing again “members of the Moscow elite and western officials”) with the president “moving to quash critics, restore order and re-establish his dominance after the first coup attempt in Russia in three decades.”

Many of the hardliners who have been known to sympathise with Wagner and criticise the regular armed forces have disappeared from view in recent days. At the same time, loyalists — such as defence minister Sergei Shoigu, whom Prigozhin hoped to unseat in his coup — have been given a platform and have been shown in public participating in high-level meetings and events.

“Putin knew about [Prigozhin’s uprising plans] in advance, as we understand, and so could prepare to a certain extent,” a western government official told the FT. “He was able to see who did what on that day. And he’s now cleaning house.”

The official said they believed Surovikin had been detained, adding: “We understand that there will be more people who will follow.”

For now it remains unclear if this is fact or wishful thinking, or whether this is merely the latest fake news narrative meant to deflect attention from the fact that the highly touted Ukraine counteroffensive has been a flop, while trying to alienate Putin from one of his top generals.

Suspicions around Surovikin may have resulted from his good relationship with Prigozhin. While the Wagner warlord railed against other generals and the defense elite — blaming them for the high death toll among Russian soldiers during the invasion and accusing them of “genocide” — he maintained a dialogue with Surovikin.

Surovikin also clashed with the defence ministry’s top brass over tactics and strategy, leading Putin to demote him from the head of the Russian invasion after just a few months on the job. Putin reappointed Valery Gerasimov instead and Russia launched a new offensive soon after.

Echoing previous reports, the FT also cites sources “familiar with the matter” according to whom Surovikin, like many in Russia’s security establishment not to mention the CIA, knew about Prigozhin’s plans but said he had not been among the plotters.

On Wednesday, Kremlin spokesman Dmitry Peskov dismissed a New York Times report, citing US officials, about the general having been aware of the coup plot in advance. Peskov said he expected “a lot of speculation around these events”, adding: “I think this is an example of that.”

END

GLOBAL ISSUES//MEDICAL ISSUES

Experts Reveal ‘Major Shortcomings’ With FDA Analysis Of Safety Outcomes In COVID-19 Vaccinated Recipients

THURSDAY, JUN 29, 2023 – 02:00 PM

Authored by Megan Redshaw J.D. via The Epoch Times (emphasis ours),

The U.S. government’s safety surveillance system monitoring COVID-19 vaccine adverse events is “woefully inadequate” and may be missing safety signals, according to researchers who say the U.S. Food and Drug Administration (FDA) made multiple decisions to ensure its first published analysis only identified known safety signals.

In a peer-reviewed letter published June 16 in the journal Vaccine, a team of experts revealed “major shortcomings” with the FDA’s near real-time surveillance study assessing outcomes in U.S. COVID-19 vaccine recipients.

Dr. Joseph Fraiman, an emergency room physician associated with the Baromedical Research Institute in New Orleans, and his co-authors raise serious concerns about whether the surveillance system is fit for its purpose and how the FDA performed its analysis.

“The FDA has repeatedly stated that it is conducting intensive, historically unprecedented monitoring of COVID-19 vaccine safety and that the only serious harms associated with mRNA COVID-19 vaccines are anaphylaxis, myocarditis, and pericarditis,” the researchers said in an email to The Epoch Times. “However, in our letter, we detail why the U.S. government’s safety surveillance system is woefully inadequate and, as a result, potentially missing safety signals.”

In its first-ever surveillance analysis published Oct. 26, 2022, in Vaccine, the FDA assessed 17 adverse outcomes following COVID-19 vaccination with Pfizer, Moderna, and Johnson & Johnson’s vaccines and concluded 15 outcomes did not meet the threshold for a statistical signal.

The FDA based its analysis on medical and pharmacy claims data of 16 million vaccinated individuals aged 12 to 64 from Optum, HealthCore, and CVS Health using their Biologics Effectiveness and Safety (BEST) System—an active post-marketing surveillance program to ensure the safety and effectiveness of biologic products, including vaccines.

The FDA concluded myocarditis and pericarditis met the requirements to trigger an early detection safety signal for Pfizer’s COVID-19 vaccine in two of three large commercial insurance databases assessed, while anaphylaxis met the statistical threshold for Pfizer and Moderna vaccines in all three databases.

The agency did not detect any other adverse outcomes, including those previously acknowledged. Their results, the FDA said, were “consistent with published literature.”

FDA Analysis ‘Not Sensitive Enough’ to Detect Safety Signals

In the letter to the editor, researchers said the FDA only identified COVID-19 vaccine safety signals for already established adverse events, and the analysis was not sensitive enough to detect safety signals for some known adverse events, such as myocarditis.

Myocarditis is inflammation of the heart muscle that can lead to cardiac arrhythmia and death. The heart condition is a recognized side effect of the mRNA COVID-19 vaccines, according to previous research and medical examiners. Yet the FDA did not detect myocarditis for Moderna’s COVID-19 vaccine in any data source and only detected it with Pfizer’s vaccine in two of three sources.

“This raises serious concerns about whether the surveillance system is fit for its purpose,” the researchers wrote. “Another major concern is the FDA’s approach towards false positives.”

The study also “failed to identify a single new positive despite running several hundred different analyses,” suggesting the system is “too strongly weighted toward avoiding false positives and will too easily miss true positives,” they added. “The FDA made multiple decisions to ensure their surveillance did not identify false positives at the expense of sacrificing the ability to identify true positives.”

According to the letter, safety surveillance systems should be optimized for high sensitivity—erring on the side of caution—to ensure real safety problems are not missed. A highly sensitive approach will result in some false positives, but upon further study, can quickly be identified as a true positive or false positive.

“In contrast, because fewer associations are identified at the surveillance stage, fewer associations will result in further study, and more true associations will be missed,” the researchers wrote.

FDA Used Test Margin to Minimize Risks and Reduce Harms

Experts also raised concerns the FDA used a test margin for its analysis for each adverse event of special interest based on “expert guidance to avoid minimal risk increases that were ‘unlikely to be clinically relevant.’” Yet the agency did not provide details concerning how or which experts determined whether a risk was “minimal” or “unlikely” to be clinically relevant.

“Given a vaccine administered to billions, we are concerned that even minimal risk increases would imply harm to thousands, or perhaps millions, of younger people, many of whom may be at low risk of serious complications from coronavirus infection,” they wrote.

end

GLOBAL ISSUES//GENERAL

END

VACCINE/COVID ISSUES

DR PAUL ALEXANDER

DR. PAUL ALEXANDER
Looking back, did prominent soccer journalist Grant Wahl die from an aortic aneurysm (dissection) linked to Malone, Kariko, Weissman et al. mRNA technology based gene vaccine? Wife Dr. Gounder pushed
the vaccine & likely encouraged him! Did Wahl’s wife’s urging & her vaccine shilling contribute to his death? not deliberate yet played a role?
DR. PAUL ALEXANDER
JUN 29
SHARE
SOURCE:https://theathletic.com/4001302/2022/12/14/grant-wahl-death-cause-soccer/?utm_source=substack&utm_medium=email
END

Did recent Tokyo study (Suzuki) of autopsies (cases in which deaths occurred within seven days after COVID mRNA vaccination in Tokyo, n=54) show an association between mRNA technology shots & deaths?

Yes! Again, the Malone, Kariko, Weissman et al. mRNA technology based gene injections are linked to deaths post shot! Autopsis are critical & as they are done, they are linking the vaccine to deaths

DR. PAUL ALEXANDERJUN 28

SOURCE:

https://www.sciencedirect.com/science/article/pii/S1344622322001225?utm_source=substack&utm_medium=email

END

Did a recent Korean study by Cho et al. show that cardiovascular deaths from the Malone, Kariko, Weissman et al. mRNA technology based gene injections was far worse than we were made to believe!

Eight out of 21 deaths were sudden cardiac death (SCD) attributable to VRM proved by an autopsy, and all cases of SCD attributable to VRM were aged under 45 years and received mRNA vaccines.

DR. PAUL ALEXANDERJUN 28

SOURCE:

https://academic.oup.com/eurheartj/article/44/24/2234/7188747?login=false&utm_source=substack&utm_medium=email

END

Nurses now? Why are nurses (29 to 50 years old) dying suddenly? Recent reports show that there is a surge in sudden deaths in ordinarily healthy nurses so why? Often due to cardiac arrests, aggressive

TURBO cancer, strokes! Is this too linked to the mRNA technology based gene injection vaccine (technology invented by Malone, Kariko, Weissman et al.)? Why no questioning of Malone, Kariko?

DR. PAUL ALEXANDERJUN 28

I present a compilation by Makis (information taken from his strong summary, see below):

‘May 28, 2023 – Syracuse, NY – 39 year old oncology nurse Tera Schilling died on May 28, 2023, following a “short battle with cancer”.

May 27, 2023 – Limerick, Ireland – 32 yo European fitness model champion & nurse Judy Fitzgerald died unexpectedly on May 27, 2023.

May 26, 2023 – Portland, OR – 40s yo nurse Mara Kieval died suddenly on May 26, 2023 after “severe health crisis”. Had COVID-19 mRNA vaccine booster on Nov.27, 2021.

May 23, 2023 – 35 year old Yale psychiatric nurse Christopher Andreozzi suffered a medical emergency at 7:50am which led to a 10-vehicle crash! He died after the crash on May 23, 2023 at Yale New Haven Hospital.

May 8, 2023 – Oxford, MS – 38 yo nurse Jana Nicole Logan died suddenly after a “brief illness”. She was 1st nurse trained in robotic surgery at Baptist Memorial Hospital.

May 8, 2023 – Wolcott, CT – 39 yo nurse Heather Podzunas Hogaboom died on May 8, 2023 Got 1st Moderna mRNA on Dec.24, 2020, 2nd on Jan.21, 2021. 4 months later she was diagnosed with Stage 4 colorectal cancer.

May 4, 2023 – Bloomfield, CT – 33 year old NURSE Shanta Brown-Davis died unexpectedly. Shanta worked at Hospital of Central CT New Britain

May 3, 2023 – Rapids City, IL – 50 year old nurse Jenny Strand Schillinger had a sudden cardiac arrest on a Saturday night (Apr.29) and never regained consciousness.

END

Criminal charges, we need to see criminal charges brought against all linked to mRNA technology, all involved, linked to the Pfizer & Moderna fraud deadly COVID gene injection, all who mandated the

vaccine in 2021 & 2022, all at CDC, NIH, FDA, HHS, Health Canada, PHAC, SAGE, all officials, who went along with mandating a vaccine they knew had no safety data & was ineffective; how were they paid?

DR. PAUL ALEXANDERJUN 29

even if your friend, your colleague, they must be charged, stripped of their monies, and imprisoned…once we hold proper legal investigations and hearings, and a court decides, we move forward. We hold them to account if a court says they are guilty of causing needless harms and deaths with the fraud lockdowns and the deadly COVID vaccine.

yes, investigate each death once the person took the vaccine, as a criminal event, a homicide.

end

(Harvey: the following is extremely important!)

Mitochondrial damage: Is there evidence that COVID spike protein damages mitochondria? Yes, Clough et al. showed us this & we can infer that the mRNA technology based gene injection induced spike

see prior substack and excellent piece by TWC on spike mitochondrial damage (virus and as such vaccine induced) and the potent role of the Mito Support formula.

DR. PAUL ALEXANDERJUN 29

Mitochondrial damage: Is there evidence that COVID spike protein damages mitochondria? Yes, Clough et al. showed us this & we can infer that the mRNA technology based gene injection induced spike

Lin’s DEVASTATING study results (negative effectiveness) in US children less than 12 years of age (on top of Hansen’s, Shrestha’s, Dorabawila’s, Nordström’s, Buchan et al.) point to mRNA technology

based COVID gene injections undermining, subverting, dysregulating the immune system; in 2 months the immune system of kids under 12 were being harmed; can Kariko, Weissman, Malone speak to this?

DR. PAUL ALEXANDERJUN 28

SOURCE:

https://www.thelancet.com/action/showPdf?pii=S1473-3099(23)00272-4&utm_source=substack&utm_medium=email

SLAY NEWS

EVOL NEWS

‘Exercise’ Puts Millions of Young People at Risk of Stroke, Study Warns

READ MORE…

LATEST NEWS:

NYC Milestone: Migrants Outnumber New Yorkers in Homeless Shelters

Read more…BREAKING: Alleged document from Trump audio in Bedminster is not part of DOJ charges: report

Read more…US Sanctions Gold Firms Tied to Wagner Mercenary Group

Read more…WATCH: Marine Veteran Comes Forward With Life Threatening UFO Encounter

Read more…Court: NY Attorney General Attempt to Force Section 8 on Landlords Unconstitutional

Read more…JUST IN: Tucker Addresses Latest Biden Allegations, Ukraine Conflict In New Monologue

Read more…Coincidence? Biological Threat Mailed to GOP Lawmakers Who Also Stood Up to LGBT Agenda

Read more…Ford To Slash 1,000 Jobs To Offset Rising Costs Of Electric Vehicle Production

Read more…

VACCINE IMPACT//

the story that ivermectin is not safe for pregnant women is false!

a must read…..

CENSORED Side Effects of Ivermectin: NOT Safe for Pregnant Women

June 28, 2023 3:26 pm

During the COVID Plandemic, sales of ivermectin soared by 829% as it was called a “miracle drug” in preventing people from becoming sick or dying from COVID. Dr. Pierre Kory M.D., president of the Frontline COVID-19 Critical Care Alliance (FLCCC), was ivermectin’s leading proponent who referred to it as a “miracle drug” that had a long history of safe usage, primarily as an anti-parasite drug. But was the public, primarily through the Alternative Media, given the whole story on the safety protocol of ivermectin? Before going any further in this article, I want to address the main objection that most will have by simply reading the title of this article, which is that studies were fabricated during COVID to discredit ivermectin so that the much more dangerous drug, remdesivir, could be given emergency use authorization to treat COVID patients. The evidence of ivermectin as an “anti-fertility” drug that is not recommended for pregnant women, however, long precedes 2020 and the year of the COVID scam. For example, in 2015 the FDA required that Merck include a warning about administering ivermectin to pregnant women classifying it as a pregnancy category C drug: “Animal reproduction studies have shown an adverse effect on the foetus and there are no adequate and well-controlled studies in humans….” Why was this information about the evidence that ivermectin is not safe for pregnant women withheld from the public by the COVID whistleblower doctors?

How the Flu “Disappeared” During the Covid Era

June 28, 2023 5:40 pm

The Flu did not disappear, it was simply rebranded as Covid. With further commentary from the longtime lead scientist of the CDC’s molecular diagnostic laboratory.

MICHAEL EVERY/MAREY

7//OIL ISSUES//NATURAL GAS ISSUES/USA AND GLOBE

end

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 7;30AM//OPENING AND CLOSINGS

EURO VS USA DOLLAR:1.0933 UP 0.0018

USA/ YEN 144.20 DOWN 0.182 NOW TARGETS INTEREST RATE AT .50% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2659 UP 0.0018

USA/CAN DOLLAR: 1.3256 UP .0004 (CDN DOLLAR DOWN 4 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 6.99 PTS OR 0.22%

Hang Seng CLOSED DOWN 237.69 PTS OR 1.24%

AUSTRALIA CLOSED UP 0.07% // EUROPEAN BOURSE: MOSTLY GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES MOSTLY GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 237.69 PTS OR 1.24%

/SHANGHAI CLOSED DOWN 6.99 PTS OR 0.22%

AUSTRALIA BOURSE CLOSED UP 0.07%

(Nikkei (Japan) CLOSED UP 40.15 PTS OR 0.12%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1909.60

silver:$22.83

USA dollar index early THURSDAY morning: 102.51 DOWN 4 BASIS POINTS FROM WEDNESDAY’s close.

THURSDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing THURSDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.118% UP 11 in basis point(s) yield

JAPANESE BOND YIELD: +0.384 % UP 0 AND 3//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.398 UP 11 in basis points yield

ITALIAN 10 YR BOND YIELD 4,083 UP 12 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.409 DOWN 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY

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

Euro/USA 1.0885 DOWN 0.0031 or 31 basis points

USA/Japan: 144.68 UP 0.295 OR YEN DOWN 59 basis points/

Great Britain/USA 1.2611 DOWN 0.0031 OR 31 BASIS POINTS //

Canadian dollar UP .0006 OR 6 BASIS pts to 1.3246

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.2526

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2644)

TURKISH LIRA: 26.06 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.384…VERY DANGEROUS

Your closing 10 yr US bond yield UP 13 in basis points from WEDNESDAY at 3.839% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 3.898 UP 13 in basis points ON THE DAY/12.00 PM

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

London: CLOSED DOWN 27,04 points or 0.36%

German Dax : CLOSED UP 11.17 PTS OR 0.07%

Paris CAC CLOSED UP 29.84 PTS OR 0.41%

Spain IBEX UP 34.60 PTS OR 0.36%

Italian MIB: CLOSED UP 272.55PTS OR 0.99%

WTI Oil price 69.17 12: EST

Brent Oil: 73.65 12:00 EST

USA /RUSSIAN /// AT: 87.48 ROUBLE DOWN 1 AND 10//100 RUBLES/DOLLAR

GERMAN 10 YR BOND YIELD; +2.409 UP 9 BASIS PTS

UK 10 YR YIELD: 4.4110 UP 4 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0872 DOWN 0.0044 OR 44 BASIS POINTS

British Pound: 1.2615 DOWN .0026 or 26 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.428% UP 7 BASIS PTS//

USA dollar vs Japanese Yen: 144.83 UP 0.438 //YEN DOWN 44 BASIS PTS//

USA dollar vs Canadian dollar: 1.3250 UP .0001 CDN dollar, DOWN 1 basis pts)

West Texas intermediate oil: 69.82

Brent OIL: 74.23

USA 10 yr bond yield UP 14 BASIS pts to 3.853%

USA 30 yr bond yield UP 14 BASIS PTS to 3.913%

USA 2 YR BOND: UP 19 PTS AT 4.877%

USA dollar index: 102.99 UP 45 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 26.05 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 87.57 DOWN 1 AND 20/100 roubles

DOW JONES INDUSTRIAL AVERAGE: UP 269.76 PTS OR 0.80%

NASDAQ 100 DOWN 13.46 PTS OR 0.03%

VOLATILITY INDEX: 13.46 UP 0.03 PTS (0.22)%

GLD: $177.09 DOWN 0.19 OR 0.11%

SLV/ $20.72 DOWN .12 OR 0.58%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Rate-Hike Odds Spike After Strong GDP; Bonds & Big-Tech Battered

THURSDAY, JUN 29, 2023 – 04:00 PM

A big upward revision to Q1 GDP hid the extent of the weakness in pending home sales data and sent US macro surprise index back near recent cycle highs…

Source: Bloomberg

“This is not the disinflationary slowing economy you’re looking for…”

This sent rate-hike expectations spiking higher with around a 50% chance of two more rate-hikes holding into year-end…

Source: Bloomberg

And dragged Treasury yields higher across the curve (with the short-end underperforming – 2Y +17bps, 30Y +10bps) pushing them all notably higher on the week…

Source: Bloomberg

…smashing the yield curve (2s30s) back near pre-SVB lows – screaming recession and/or Fed policy error…

Source: Bloomberg

With 2Y Yields back up near cycle highs right before the SVB collapse…

Source: Bloomberg

The rise in yields this time smacked the long-duration tech stocks, and the ubiquitous rotation into value (banks helped by stress test results at the margin) occurred once again with Nasdaq the day’s biggest loser and Small Caps biggest gainer. The Dow and S&P managed gains…

AAPL was unable to get up to $3 trillion market cap once again (finding resistance at $190.00 today)…

The divergence between yields and the Growth/Value rotation remains extreme…

Source: Bloomberg

Overdone? Is it time for Value/Small Caps to outperform Growth/Nasdaq?

The dollar hit near 4-week highs…

Source: Bloomberg

Bitcoin rallied today, extending its bounce of $30,000, helped by news that Fidelity is pitching a Spot Bitcoin ETF…

Source: Bloomberg

Oil prices managed modest gains, with WTI testing back above $70 – but unable to hold it…

Gold ended lower on the day but well off its spike lows (which tested down to near $1900 and bounced)…

Finally, we note that Nomura’s Charlie McElligott asked yesterday (reflecting oin the equity market meltup) – So what would it take to blow this thing out?

His answer may well be worth paying attention to this morning…

Just spitballing…

Perhaps what is required (easier said than done!) is a proper “Correlation 1” event where the current dispersion wave reverses, especially if Grosses keep growing – potentially requiring some sort of AI crunch from the Long side (earnings expectations mania overshoots reality? – seems too early for that just yet)…

…or maybe from the Short-side, where US economic data does indeed see that aforementioned “animal spirits” trade and actually reaccelerates to such an extent that markets either begin adding-in fresh terminal rate…

…OR where heavily-short economically sensitives begin trading “early cycle” and get grabbed-into / painfully.squeezed.

No one was expecting that kind of ‘animal spirits’ growth? And The Fed can’t stand for that.

But could The Fed handle that kind of reversal?

b) THIS AFTERNOON TRADING/

end

END

i c Morning/

end

II) USA DATA/

Another phony data point in order to orchestrate a raid on gold and silver.

It failed miserably

Q1 GDP Unexpectedly Revised Sharply Higher On Bizarre Surge In Net Exports

THURSDAY, JUN 29, 2023 – 09:02 AM

The second revision to Q1 GDP – data which comes some three months after the quarter in question is long over (and is still not the final revision as the data continues to be massaged higher or lower for years to come) – is usually a very boring affair: after all, the BEA is supposed to have all of the estimates and soft data replaced with hard actuals by now, and the bottom line number should be fine-tuned at best to the tune of 0.1%, 0.2% at most.

Not this time: moments ago, the BEA reported that according to the third estimate of Q1 GDP, the US economy grew much faster than expected at the start of the year, rising at a 2.0% SAAR, up dramatically from the 1.3% GDP print reported in the second estimate one month ago, and up almost 100% from the 1.1% initial Q1 GDP report published two months ago.

More importantly, the number was a two-sigma beat to consensus expectations of a 1.4% increase, the biggest outlier to the third GDP estimate in over a decade, a testament to how unexpected today’s beat was.

The GDP estimate for the first quarter was revised up 0.7 percentage point from the “second” estimate, primarily reflecting upward revisions to exports and consumer spending.

The increase in the first quarter primarily reflected an increase in consumer spending that was partly offset by a decrease in inventory investment.

The increase in consumer spending reflected increases in both goods (led by motor vehicles and parts) and services (led by health care, food services and accommodations, and “other” services).
The decrease in inventory investment primarily reflected decreases in wholesale trade and manufacturing.

end

Initial Jobless Claims Unexpectedly Tumbled Last Week, Led By TX & CA

THURSDAY, JUN 29, 2023 – 08:39 AM

The number of Americans filing for jobless claims for the first time last week tumbled last week to 239k, from the 265k – 20-month high – the prior week.

Source: Bloomberg

California and Texas saw the biggest drop in claims last week by a long way while Connecticut and New Jersey saw the biggest increase…

While smoother 4-week average of initial claims rose to its highest since Nov 2021, Continuing claims continued to drift lower (to 1.742mm) – the lowest since Feb 2023.

Source: Bloomberg

Very much not what The Fed wants to see after 500bps of rate-hikes.

end

Pending home sales plunge more than expected due to higher borrowing costs.

(zerohedge)

US Pending Home Sales Plunge More Than Expected In May

THURSDAY, JUN 29, 2023 – 10:06 AM

After existing home sales were flat and new home sales exploded higher, pending home sales once again are the tie-breaker on May’s housing market (and were expected to decline 0.5% MoM). The actual print was considerably worse than expected, down 2.7% MoM (and April was revised down from unch to -0.4% MoM)…

Source: Bloomberg

That is the 3rd monthly decline in a row and leaves pending home sales down 21% YoY.

The resale market continues to face headwinds as high borrowing costs and low supply weigh on sales. Many homeowners who locked in lowers mortgage rates in the past are reluctant to move, adding to inventory constraints that are pushing many buyers into the new-home market and helping keep existing-home sales subdued.

“The lack of housing inventory continues to prevent housing demand from being fully realized,” Lawrence Yun, NAR’s chief economist, said in a statement.

“It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient.”

Sales declined in three of four regions, with transactions in the Midwest falling to the lowest level since April 2020

So the bifurcation between current home sales (existing and pending) and new home sales continues to gape ever wider…

Source: Bloomberg

Of course, bulls will look at new home sales as the resurrection moment; bears will see reality (absent incentives) in the existing sales market. The Fed will not be swayed either way – there is more pain to come. The question is how long can homebuilders soak this up?

end

III) USA ECONOMIC STORIES

‘Color-Blind’ Supreme Court Bars Consideration Of Race In College Admissions

THURSDAY, JUN 29, 2023 – 10:13 AM

The Supreme Court has ruled that it is unconstitutional to consider race in university admissions.

In Thursday’s 6-3 decision (along ideological lines), the justices rejected arguments by Harvard College and the University of North Carolina that their admissions programs are warranted to ensure campus diversity.

The high court majority effectively overturned a 2003 decision, known as Grutter v. Bollinger, that had reaffirmed the right of universities to consider race as one of many admissions factors.

In a concurring opinion, Justice Clarence Thomas said that ruling “is, for all intents and purposes, overruled.”

As The Wall Street Journal reports, the ruling will force a reworking of admissions criteria throughout American higher education, where for decades the pursuit of diversity has been an article of faith.

Specifically, The 14th Amendment ensures that individuals receive equal protection of the laws from state agencies including public universities, a standard that also applies to most private colleges that receive federal funding.

In general, the court has permitted racial preferences only to remedy specific acts of illegal discrimination, not compensate for general social injustices said to stem from historical practices.

Does it really need SCOTUS to decide this? Of course, race should not be considered!

“Eliminating racial discrimination means eliminating all of it,” Chief Justice John Roberts wrote in the majority opinion.

“And the Equal Protection Clause, we have accordingly held, applies ‘without regard to any differences of race, of color, or of nationality’—it is ‘universal in [its] application.’”

The court’s three liberals dissented. Society “is not, and has never been, colorblind,” Justice Sonia Sotomayor wrote, joined by Justices Elena Kagan and Ketanji Brown Jackson.

“The Court ignores the dangerous consequences of an America where its leadership does not reflect the diversity of the People.”

The dissenters exclaimed that the court’s conservative majority was “entrenching racial inequality in education.”

“Today, this Court stands in the way and rolls back decades of precedent and momentous progress. It holds that race can no longer be used in a limited way in college admissions to achieve such critical benefits,” wrote Sotomayor.

“In so holding, the Court cements a superficial rule of colorblindness as a constitutional principle in an endemically segregated society where race has always mattered and continues to matter.”

Brace for the snowflakes to unleash their hatred of this color-blind ruling…

…because not accepting race-based decision-making is, umm, racist?

end

Bud light permanently damaged! Analyst states that they have lost 25% of its business.

(zerohedge)

Bud Light To Permanently Lose Nearly 25% Of Its Business: Analysts

WEDNESDAY, JUN 28, 2023 – 09:20 PM

After self-destructing in the name of signaling virtue, Bud Light is looking at a permanent loss of nearly 25% of its business, according to Deutsche Bank analyst Mitch Collett in a recent Barron‘s article.

“We believe recent underperformance implies a permanent reduction in ABI’s U.S. business,” writes Collett, referring to Anheuser-Busch InBev, the parent company of Bud Light. “Our proprietary survey data suggests these headwinds are likely to fade even if we do not expect the U.S. business ever to fully recover from its current challenges.”

Data gathered by Deutsche Bank suggests that 24% of Bud Light consumers no longer purchase the brand, while another 18% are buying less of it.

“Taken together, our survey data shows that Bud Light as a brand faces significant challenges—particularly with older consumers. However, we believe the forward-looking data sets imply that the challenges will at least partially fade,” wrote Collett, who actually upgraded shares of AB InBev to “buy” from “hold,” with a new price target of $65.92, up from $64.83.

That said, another analyst, Evercore’s Robert Ottenstein, said Bud Light will “permanently lose” between 15 and 20% of its volume, after which “declines will resume at about the average rate of the prior 10 years.”

“Budweiser will also see a similar pattern, with consumers lost in 2022 not coming back,” he continued in a note highlighted by Yahoo Finance in which quotes Collett as saying Bud Light and Anheuser-Busch are “at the end of the tunnel” of the controversy.

In May, HSBC downgraded the stock to “hold” over its “Bud Light crisis,” adding that there may be “deeper problems” at the company.

“Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” he said. “At Ambev, we think the answer is ‘yes’; in the U.S., we think it’s ‘no.’ The way this Bud Light crisis came about a month ago, management’s response to it and the loss of unprecedented volume and brand relevance raises many questions.”Bottles of beer and cider produced by Belgian–Brazilian group Anheuser-Busch InBev (Budweiser, Corona, Stella, and Beck’s) and British brewer SABMiller. (Justin Tallis/AFP/Getty Images)

More via the Epoch Times;

Since its ill-fated promotional exercise in early April with Mulvaney, a transgender TikTok influencer, Bud Light has seen its weekly sales decline. Recent data from Bump Williams Consulting and Nielsen IQ show that for the week ending on June 10, Bud Light’s year-over-year sales have declined by 26.8 percent, representing the worst week so far.

And for the month of May, Constellation Brands-owned Modelo Especial was the No. 1-selling brand in the United States, outpacing Bud Light, which fell to No. 2, industry data show.

Bump Williams, chief of the eponymous consulting company, told the New York Post on June 21: “This was a tough week for Bud Light and other beer brands” that are owned by Anheuser-Busch, including Budweiser. Sales of Budweiser were down by 10 percent, Natural Light was down by 2.3 percent, and Michelob Ultra was down by 2.4 percent.

Anheuser-Busch’s CEO, Michel Doukeris, told investors last month that he believes that online “misinformation” was the primary reason for the sales numbers, and he asserted that it was just “one can” that was produced with Mulvaney’s face on it and appeared to deny that there was a partnership. However, Mulvaney posted on social media that there was a partnership.

The can drew the ire of multiple celebrities and conservative influencers on Twitter. Some suggested that consumers boycott the brand in a bid to send a message to corporations who may be pursuing a “woke” leftist agenda.

An executive with Anheuser-Busch recently spoke out about the boycott as he got an award during the Cannes Lions International Festival in southern France.

“It’s tough to see the controversial and divisive debates that have been happening in the U.S. in the last couple of weeks involving lots of brands and companies, including and especially Bud Light,” Anheuser-Busch’s global chief marketing officer, Marcel Marcondes, told the Cannes Lions International Festival, according to an Ad Age report. “It’s tough exactly because what we do is all about bringing people together.”

Marketing Pivot

With summer officially starting last week, Bud Light pivoted and launched a new promotional campaign. But that, too, was derided on social media, with some demanding that the company apologize for its promotional efforts with Mulvaney.

Responding to the latest ad, podcast host Liz Wheeler wrote on Twitter that the company was trying to whitewash the past two months of controversy.

“None of this is funny until & unless you apologize for using Dylan Mulvaney—a man pretending to be a woman—as your spokesperson. It’s insulting that you think an ad about summer will make us forget our principles. The boycott continues,” she wrote in a post.

Anheuser-Busch didn’t respond to a request from The Epoch Times for comment by press time.

END

CNN’s Tapper warns of RFK’s “dangerous misinformation”. He is scared he is telling the truth.

(zerohedge)

CNN’s Tapper Warns Of RFK Jr’s “Dangerous Misinformation”, Rebukes NewsNation For ‘Platforming’ Live Townhall Meeting

WEDNESDAY, JUN 28, 2023 – 08:40 PM

Democratic challenger Robert F. Kennedy Jr. will face voters tonight during a live town hall on NewsNation at 9pmET on affiliated broadcast television stations (due to be replay open on that site later in the evening).

Having flexed his muscles during the week, now is his turn to flex his policy mind – something he has been doing on various podcasts (mostly more right-leaning since the establishment left has done their best to discredit Kennedy at every stop).

He will take questions in front of a live audience comprised of voters in partnership with the New Hampshire Institute of Politics at Saint Anselm College. Voters in the key states of South Carolina and New Hampshire can also question the candidate.

Kennedy’s bid for the Democratic presidential nomination has garnered support from as many as 20% of Democrats, but Republicans viewed him more favorably at 40%, according to recent reports.

Polling this month from Quinnipiac University found that among Democrats and Democratic-leaning voters, 70% support Biden, 17% support Kennedy, and 8% support Marianne Williamson.

“This is a moment where RFK Jr., who first got a lot of attention for having a famous name, and then got a lot of attention for some pretty wild positions that he has taken on a number of issues – including vaccines, including the war in Ukraine, including the CIA – and he’s generated a lot of buzz. This is the moment where he is going to face, what I would submit, is probably the toughest test of his candidacy so far, which is answering real voter’s real, practical questions about his candidacy and doing it in front of a national television audience,” NewsNation Political Editor Chris Stirewalt told KOIN 6 News.

As Peter Barry Chowka notes, Kennedy has been attacked and largely shunned by the mainstream media but in at least a half dozen live interviews on FOX News, including the one with Tucker Carlson, he has expressed a message that suggests he could potentially draw support from across the political spectrum.

Kennedy, who declared his candidacy in April, is one of two Democrats (the other is self-help author Marianne Williamson) to challenge President Joe Biden for their party’s 2024 presidential nomination.

His comments, including describing the aim of his campaign as “end[ing] the corrupt merger of state and corporate power,” might resonate with a variety of constituencies.

Why is RFK Jr on NewsNation and not on a left-leaning mainstream media outlet?

Simple – here’s ‘fake-dossier-peddling’ Jake Tapper explaining that Kennedy should not have a platform its because of his “dangerous ideas”.

Here’s one colleague’s (unedited) take (that we thought worth sharing) on Tapper’s (and likely all of mainstream media’s) attitude and self-immolation:

“If RFK’s ideas are dangerous a real journalist would be able to draw attention to what RFK has wrong. Jake Tapper just admitted he isn’t a journalist, and CNN does NOT disseminate objective information.

The real threat to democracy is Jake Tapper failing to do his basic job. Tappers job isn’t to preemptively draw conclusions about presidential candidates.

I don’t give a fuck what Tapper thinks, his job is objective arbitrator. If he wants to work on behalf of the “re-elect” Biden campaign he should have to declare that and we can stop pretending CNN does “news”.“

As AmericanThinker’s Thomas Lifson noted:

I think NewsNation is very smart to feature RFK, Jr. as it tries to establish itself as a full-fledged rival to CNNMSNBCFOXNEWSMAX.

RFK, Jr. already has a fan base that will want to tune in and see him, and I suspect most have never watched NewsNation.

They may like what they see and come back now that they have searched for and found it on their cable/satellite/streaming feed.

NewsNation is trying to establish itself in the middle of the political spectrum, accessible to both sides. Featuring RFK, Jr. is a good way to highlight that orientation.

Kennedy is also catching up to Newsom in the betting markets…

Where Kennedy stands on key issues…

(via NewsNationNow.com)

Vaccines

Kennedy pushes back against critics that say he has anti-vaccine views.

During a June 23 town hall hosted by WMUR-TV, Kennedy said if he were president, he would mandate pre-licensing safety trials for vaccines and “allow parents to make of their minds about whether they want to use vaccines for their children.”

“What I’ve said is I’m pro-science and pro-safety and we ought to subject vaccines…to at least the kind of rigorous placebo-controlled trials that are mandated for every other medicine,” Kennedy told WMUR.

Vaccines are tested extensively by manufacturers before the FDA issues a license.

A vaccine being developed for distribution in the United States goes through two separate research phases before an initial three phases of clinical trials, according to the Food And Drug Administration. Those trials test the safety and effectiveness of the vaccine. By the time it reaches the third phase of initial clinical trials, the vaccine is generally given to thousands of people, and researchers compare those who received the vaccine against those who received a placebo.

In some cases, the FDA requires additional post-market studies or clinical trials for continued research.

The U.S. Centers for Disease Control and Prevention says immunization is the best protection against certain illnesses. Annually, tens of thousands of people get sick from diseased that could be prevented by vaccines.

Foreign Policy

Kennedy has made peace a priority when it comes to foreign policy, promising to “end the proxy wars, bombing campaigns, covert operations, coups, paramilitaries, and everything else that has become so normal most people don’t know what’s happening.”

He’s specifically vowed to end the war in Ukraine. His plan to stop the fighting includes offering to withdraw U.S. troops and missiles from Russia’s borders and convince Russia to withdraw its troops from Ukraine.

“UN peacekeepers will guarantee peace to the Russian-speaking eastern regions,” Kennedy said on his campaign website. “We will put an end to this war.”

Border

Kennedy visited the nation’s southern border earlier this month, calling it a “dystopian nightmare.”

The presidential candidate described seeing hundreds of people cross the border – a seemingly “hopeless” situation he said was “created by the federal government, that local people are being forced to hold the bag on.”

“It’s extraordinary,” Kennedy told NewsNation. “It’s kind of the best part of America and the worst part at the same time.”

During WMUR’s town hall, Kennedy said he’s “not a big fan of Trump” or his border wall. After speaking with officers patrolling the border, however, he said physical barriers are necessary in some areas with high-density populations and advocated doing more to keep migrants and U.S. citizens safe from cartels.

Economy

Kennedy has said he will enact policies that favor “small and medium businesses” and break up “too-big-to-fail” banks and monopolies.

“When crisis strikes, bail out the homeowners, debtors, and small business owners instead,” Kennedy said on his campaign site.

He also believes healthcare is a key economic issue, and has vowed to make existing services available to all, including “alternative and holistic therapies that have been marginalized in a pharma-dominated system.”

One wonders just how long MSM can continue ignoring RFK Jr?

END

This is a good commentary explaining why AirBnB owners are about to be forced to sell their property

(Gerli/)

Why AirBnB Owners Are About To Be Forced Property Sellers

WEDNESDAY, JUN 28, 2023 – 07:40 PM

Authored by Nick Gerli via Reventure Consulting,

Many Airbnb owners will soon be forced to sell their properties, resulting in a housing bust that could be on par with the 2008 Subprime Crisis in some cities.

These Airbnb owners are getting ready to sell because of “Airbnb bust”, a downturn in the short-term rental market that started in the second half of 2022, with Airbnb operators in some cities facing a 50% decline in revenue. These declining revenues are the result of a slowdown in post-pandemic travel demand to go along with a massive increase in Airbnb supply, trends which are now causing many Airbnb operators to lose money on their rental.

I believe these losses will cause a wave of distressed selling from Airbnb operators in 2023 and 2024, particularly in cities where:

1) revenue has crashed the most, and

2) Airbnb supply increased the most

If you’re a homebuyer or real estate investor it’s important to understand the exposure your city and neighborhood has to the Airbnb crash, particularly the timing and depth of the downturn. Because when it all shakes out, I believe that there will be some great buying opportunities for homebuyers and investors across the real estate spectrum.

So, without further ado, let’s dive into the data.

(Note that when I refer to “Airbnb” in this article, I am referring to the broader short-term rental market, which includes listings found on Airbnb, VRBO, Booking.com, and other travel sites.)

65% more Airbnbs than Homes for Sale in 2023

But before getting into the city-specific data, it’s important to understand the broader national trends. Most notably, that the number of Airbnb rentals in America has skyrocketed from less than 200,000 seven years ago to nearly 1 million in 2023 according to data from AllTheRooms.

At the same time, the number of homes Listed For Sale has plummeted, dropping from roughly 1.2 million prior to the pandemic to less than 600,000 today according to data from Realtor.com. The result is that there are currently 65% more homes listed for rent on Airbnb than listed For Sale.There are nearly 1 million homes listed on Airbnb in 2023, compared to only 570k listed for sale (Source: AllTheRooms / Realtor.com)

The rise in Airbnb rentals was caused by 1) investors buying up houses to rent out short-term and 2) existing homeowners deciding to list their houses on Airbnb instead of selling them. A double whammy, one-two punch that has sucked inventory out of the US Housing Market.

50% Crash in Airbnb Revenue reported in some Cities

But there are now signs that this trend of increased Airbnb listings might be coming to an end as the market reaches saturation in 2023, with Airbnb’s CEO warning of a “booking slowdown”. At the same time, vacation rental management companies reported a 13% drop in revenue per property in the first quarter of 2023.

Clearly, something is up, with the deluge of Airbnb supply over the last several years now intersecting with a recessionary slowdown in travel demand. A cocktail which is leading to a collapse in revenue for Airbnb operators across America.

The collapse is most notable in the Southwest and Mountain West areas of the country, where Airbnb revenue per listing is down 40-50% YoY. With owners in cities such as Austin, Phoenix, Denver, and San Antonio taking the hardest hit according to data from AllTheRooms.

But the declines weren’t isolated to these areas. Of the 182 counties in America with the most short-term rental listings, revenues were down in 179 of them (98%), with the average county experiencing a 29% decline in revenue per listing comparing the three-month period from March to May 2023 to the previous year.

Phoenix is ground zero for Airbnb Bust

The epicenter of Airbnb bust is undoubtedly Phoenix, AZ, a market that is now plagued with a huge glut of short-term rental supply, with the number of Airbnb rentals in Maricopa County increasing by 500% over the last seven years.

Much of that listing growth has come in the last 15 months, as a downturn in the Phoenix housing market pushed many owners to list their properties on Airbnb instead of selling them. The result was that Airbnb supply increased from 10,000 in early 2022 to nearly 18,000 today.Airbnb listings in Phoenix have increased 500% in the last seven years (Source: AllTheRooms)

At the same time, For Sale listings on the Phoenix housing market have plummeted, dropping from an average of 14,000 prior to the pandemic to 7,800 in May 2023.

This has caused the short-term rental Supply Ratio in Phoenix, a metric calculated by dividing Airbnb listings in by homes For Sale. The resulting ratio in Phoenix is 2.3x, which indicates there are 2.3 listings on Airbnb for every 1 house listed for sale.The short-rental Supply Ratio in Phoenix is currently at 2.3x compared to a 1.0x long-term average (Source: AllTheRooms / Realtor.com)

The historical Supply Ratio in Maricopa County is much lower at 1.0x, reinforcing the notion that the area’s Airbnb market is oversupplied while its For Sale market is undersupplied. A situation that will likely correct itself in coming years as struggling Airbnb owners elect to sell their properties.

In some cities, this correction could be on par with the Subprime Crisis in terms of how much inventory hits the market. Particularly in an area like Sevierville, a vacation destination in East Tennessee, where the number of Airbnbs currently outnumbers the homes For Sale by 10 to 1!

How does this 10:1 Airbnb Supply Ratio in Sevierville play out in the coming months and years as the Recession worsens and travel demand drops further? No one knows for sure. But a scenario where For Sale inventory doubles or triples in a short period of time is entirely possible.

The Airbnb selloff will happen in urban Neighborhoods. And Vacation Destinations.

The oncoming Airbnb bust in America will be primarily felt in two types of locations:

1) dense, urban areas that have the most Airbnb inventory in big cities, and

2) vacation destinations.

You can get a sense of this urban-area exposure in big cities by looking at the Airbnb heatmap below from AllTheRooms, which shows that Phoenix Airbnbs cluster in four main pockets: 1) Downtown Phoenix, 2) Scottsdale, 3) Paradise Valley, and 4) Tempe.Heatmap of Airbnb supply across Maricopa County (Source: AllTheRooms)

These four areas account for roughly 65% of the short-term rental inventory in Maricopa County, and thus will be the most negatively impacted from an Airbnb owner selloff. Meanwhile, outlying suburban and rural neighborhoods will be less impacted since they have a much lower share of Airbnb inventory.

You can get an even better sense of this by looking at the short-term rental Supply Ratio across a metro like Austin, TX, another area that’s been hard-hit by Airbnb bust. In Travis County, which is the main urban county in Austin, there are nearly 9,200 rentals on Airbnb compared to 4,000 listings For Sale, good for a hefty 2.3x supply ratio.

But in Williamson County, the suburban area to the north of Austin, the situation is flipped and there are more homes listed for sale. With the implication being that the Airbnb bust is going to hit the urban Travis County much harder than suburban Williamson County.

However, the more rural one goes, especially to vacation destinations, the more Airbnbs begin to pop-up once again. Nearby Fredericksburg, TX, located about two hours west of Austin, has a Supply Ratio of 6.3x, indicating that there are over 6 Airbnb Listings for every one house for sale. Highlighting the potential for big price declines as Airbnb bust worsens.

Expect to see more For Rent signs as well

Of course – an Airbnb owner that runs into financial distress might not have to sell. Instead, they could decide to rent out their property long-term, a trend that I suspect is already happening given the flood of rental inventory that has hit the market over the last year.

For instance, in a metro like Nashville, TN, a fairly big Airbnb market, the number of vacant apartment rentals has recently skyrocketed, nearly doubling over the last 15 months all the way up to an 8.0% vacancy rate. This surge in apartment vacancies is similarly echoed in Airbnb-heavy metros like Dallas, Phoenix, Las Vegas, and Tampa.The apartment vacancy rate in cities like Nashville has skyrocketed (Source: Apartmentlist.com)

Meanwhile, the number of vacant houses for rent has also skyrocketed in the same period, increasing from 43,000 houses available across America’s 54 largest counties in March 2022 to nearly 80,000 today (meaning that the number of vacant houses for rent has nearly doubled in the last year).The number of vacant houses for rent in 54 large counties across America (Source: Reventure Consulting / Zillow)

But what if this surge in rental inventory worsens in coming months as more Airbnb operators try out the long-term rental market? Well, it could provide a shock that many institutional landlords are not expecting.

In a place like Maricopa County in Phoenix, roughly 59% of the Airbnb supply is comprised of houses according to AllTheRooms. That compares to 13% condos, 9% apartments, and 20% of guesthouses/other.Airbnb Supply breakdown in Maricopa County, AZ (Source: AllTheRooms)

Indicating that biggest surge in rental inventory from Airbnb bust in Phoenix would likely come in the form of houses hitting the market for rent in neighborhoods like Downtown, Scottsdale, Paradise Valley, and Tempe. Such a big surge in rental inventory in such a concentrated area has the potential to cause a massive drop in rents.

Cities where Airbnbs are Performing Better

It’s also important to remember that real estate is local, and that not every city or neighborhood is getting hit by Airbnb bust. In fact, some parts of America are experiencing increased Airbnb demand over the last year even as the broader market tanks.

One of these areas is Washington DC, where gross Airbnb revenues are still up 1.6% YoY, while revenue per listing is only down -6%. The reason that DC is holding up better is because there has been a return to big cities over the last year since the pandemic ended, increasing demand for short-term stays. Moreover, Washington DC never got hit with the same surge in Airbnb supply as other cities, with its number of operating Airbnbs today about 15% lower than in 2019.

Another area to watch is Milwaukee, WI. Gross market revenues are up 5.2% YoY while revenue per listing is only down -15% (much better than the -50% in an area like Phoenix). Milwaukee’s main draw is a lack of Airbnb supply competition, with the market being the rare case where the number of homes for sale is higher than the Airbnb listings.

Of course, Airbnb investors in 2023 needs to be very careful, because I suspect we are just at the start of Airbnb bust. Over the next year we will likely see more layoffs and a higher unemployment rate in America, which will weigh further on travel demand and profits.

Airbnb bust creates opportunity for Homebuyers and Investors

Finally, I’d like to conclude with some perspective. I believe that Airbnb bust is a positive trend that will help to rebalance the real estate market and provide fresh opportunity to a new batch of homebuyers and investors in 2023 and 2024.

Once the current level of Airbnb supply starts to drop, that should correlate with an increase in both For Sale and For Rent inventory that pushes home prices and rents down further. Enabling homebuyers and long-term real estate investors who have been waiting on the sidelines to re-enter the market.

At the same time, once the Airbnb supply drops enough, it will stabilize the short-term rental market and eventually cause revenues to start going back up. Which will inevitably create fresh opportunity for aspiring Airbnb investors, particularly in hard-hit markets.

The depth and timing of the downturn, and the resulting opportunity created by the downturn, really depends on the city you’re in as well as your specific neigborhood. Is your area oversupplied in terms of Airbnbs? If so, by how much? Are revenues dropping? Those are worthwhile questions for homebuyers and investors to figure out the answers to in 2023.

Data in this Post / YouTube Video

The data in this post came from two principal sources:

1) Data on Airbnb revenues and supply comes from AllTheRooms, a short-term rental data tracking service.

2) Data on For Sale Inventory comes from Realtor.com. This data can also be found on Reventure App.

Also stay tuned for a YouTube video on this topic coming later today. You won’t want to miss it.

-Nick

end

USA// COVID

end

SWAMP STORIES

Unbelievable!!

Biden Picks Up After Journalist Calls Secret Burner Phone Revealed In Hunter Scandal

THURSDAY, JUN 29, 2023 – 11:00 AM

On Sunday, investigative journalist and Clinton Cash author Peter Schweizer revealed that Hunter Biden had been paying for a secret global phone from AT&T to the tune of $300 per month.

“We know from the laptop that Hunter Biden’s business paid for a private phone line that Joe Biden used while he was vice president,” Schweizer told Fox News‘ Maria Bartiromo. “It was from AT&T, it was $300 a month, it was a global phone where you could access somebody anywhere around the world.”

“We shared that phone number and that account information with people in the House Oversight Committee. My hope is that they if they haven’t already, they will subpoena those records because I think it will give an indication on how tight the communication was.

And that may be the phone, for example, that the Ukrainian, the Burisma executive might have used in this allegation that the he talked to Joe Biden in recorded conversations.” -Peter Schweizer

Watch:

Now get this – journalist John Solomon called the phone, and President Joe Biden picked up!

“One of those documents got leaked to me and it had a cell phone number that Hunter Biden was paying for, so I figured this was my chance. I’ve been trying to get fair comment from Hunter Biden, so I’m gonna call the cell phone!” Solomon told Real America’s Voice. “So I called the cell phone, and guess who picked up the phone? Joe Biden!”

“Joe Biden! Boy was he shocked when he got – when he picked up the phone and found out it was me,” Solomon continued, adding “He hung up pretty quickly!“

Watch:

Last week, IRS whistleblowers stepped forward to claim that Joe Biden’s DOJ buried evidence of Hunter Biden’s tax crimes – and stopped US Attorney David Weiss from bringing charges against Hunter in two different jurisdictions last year.

According to Rep. Jason Smith (R-MO), Weiss sought to be appointed as a special counsel in the case last year but was denied as well.

What’s more, the IRS sought felony charges against Hunter, send their recommendations to the Biden DOJ, and they ‘came out as two misdemeanors,’ Byron York tweets.

According to the whistleblowers, one of whom is Gary Shipley – who came forward weeks ago to reveal his identity, the IRS was notified of potential evidence “in the guest house of former Vice President Biden,” but were rebuffed by US Attorney Lesley Wolf, who said there was “no way,” as search warrant “would ever get approved.”

In another piece of evidence presented on last week, Hunter Biden can be seen in a message to Chinese business associate, Henry Zhao, demanding that they send money as promised.

“I am sitting here with my father and we would like to understand why the commitment made has not been fulfilled,” wrote Hunter via WhatsApp on July 30, 2017. “Tell the director that I would like to resolve this now before it gets out of hand, and now means tonight.“

Hunter then warned that “if I get a call or text from anyone involved in this other than you, Zhang or the chairman, I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.“

As Peter Schweizer said on Sunday;

“I would just say one other thing, Maria, as it relates to that sort of shakedown phone call with Henry Zhao that we alluded to, Henry Zhao in 2015 had already sent $5 million to the Bidens. He was the head of a Harvest Investment firm. And what’s interesting is in the correspondence there, Hunter Biden again talks to Zhao in the context of “this is a deal that’s important to my family” involving his father.

Let’s also keep in mind, we fixate on the criminal element of this, we also have to focus on the espionage element of this. Henry Zhao paid $5 million to Hunter Biden from an account that was part of a company that he co-owned with the family of the Minister of State Security of China, who’s in charge of the entire spy apparatus. And you see that in every deal that Hunter Biden did in China. These individuals that are sending him money have ties to Chinese intelligence.”

Biden has called the bribery allegations a “bunch of malarkey,” and insists “I’m honest.”

END

THE KING REPORT

The King Report June 29, 2023 Issue 7023

Independent View of the News

Powell at a central banker’s forum in Sintra, Portugal, along with Lagarde (ECB) and Bailey (BoE) issued hawkish statements about inflation and the need for further rate hikes.

BoJ chief, along with Powell, Lagarde, and Bailey bemoaned tight labor markets and strong consumption as drivers of persistent inflation. They said CBs would do what is necessary to drive down inflation.

Powell: “Although policy is restrictive it may not be restrictive enough… The bottom line is that policy hasn’t been restrictive enough for long enough to see those effects (lower service inflation)… so we believe there’s more restriction coming…” He said the Fed might hike rates at consecutive meetings.

Mohamed A. El-Erian @elerianm: The Sintra exchange between Fed Chair Powell and @CNBC’s @SaraEisen went something along the following line just now:
P: “Quite a large majority [of the FOMC] wanted two or more hikes.”
E: “I don’t get why you didn’t raise rates.”
P: “We are going to move with more time in between them.”
E: “At every other meeting?”
P: “We have not decided that. I would not rule out consecutive meetings.”

Jerome also said core inflation will not fall to the Fed’s target of 2% until 2025, and the Fed will be restrictive as long as it needs to be. Powell: “What you see is stronger than expected growth, tighter than expected labor markets and higher than expected inflation.” Jerome believes labor costs are an issue in non-housing services inflation.

Powell said the pace of QT is about $1 trillion per year. Then Powell issued two political inspired whoppers: The fiscal impulse from Covid spending is really not material; and infrastructure spending isn’t an important driver of US inflation. Jerome said the Fed is carefully monitoring commercial real estate.

Jerome also made this dubious assertion: China’s economy isn’t a first order consideration for the Fed.

TheStreet.com: End of Quarter Markups Offset a Hawkish Jerome Powell
Many bulls are increasing optimistic that the economy can avoid a recession… The longer the economy stays strong, then the more aggressive the Fed will be with rate hikes to battle inflation…

ESUs traded sharply moderately lower but sideways from the Asian opening until they broke lower at 8:38 ET. ESUs hit a daily low of 4399.25 at 9:45 ET. After 30 minutes of chopping, ESUs soared to a daily high of 4430.25 at12:19 ET.

From yesterday’s King Report: ESUs are -8.50 and NQUs are -57.70 at 20:20 ET on Nvidia.  We’ve all seen this movie before.  ESUs decline on a negative fundamental during Asian and/or European trading; they rally into the NYSE open; get hammered, and they then rally sharply on trader buying.

ESUs tumbled from the daily high to 4400.75 at 12:54 ET. Performance gamers and bulls adamantly wanted to keep ESUs from falling meaningfully below 4400 and generating momentum selling. ESUs rebounded to4416.00 at 14:25 ET. ESUs then sank until they hit 4401.75 at 15:07 ET. The last-hour manipulation conflated with the need to hold 4400 generated a rally.
ESUs jumped 12 handles in 10 minutes. After a modest retreat, ESUs plodded higher until someone manipulated them 9 handles higher in less than a minute, just before the NYSE close!

General Mills forecasts dour profit as price hikes impact demand
General Mills on Wednesday forecast full-year profit largely below analysts’ estimates as price hikes to counter inflation dent demand for its ready-to-eat cereals and meal kits. Shares of the Cheerios cereal maker fell as much as 5.7% to a more than four-month low after General Mills also missed net sales estimate for the fourth quarter ended May and reported a dip in volumes across its segments…
    “We’ll see some (more hikes in) pricing this year because we still see inflation in the marketplace,” General Mills CEO Jeffrey Harmening said…
https://www.reuters.com/business/retail-consumer/general-mills-forecasts-dour-profit-price-hikes-slow-demand-2023-06-28/

St. Louis Fed: Predicting Inflation: Food For Thought
We see that past inflation in food prices has been a better forecaster of future inflation than has the popular core measure…
https://www.stlouisfed.org/en/publications/regional-economist/january-2002/predicting-inflation-food-for-thought

Xi Vows to Protect Foreign Investors in Charm OffensiveXi reiterates that the Asian nation will continue to open upCash-strapped cities struggle to attract foreign investmentXi Jinping pledged China would do right by foreign investors to assuage worries about the economy and unpredictable policymaking…  https://t.co/9OXWSTiS3g

WTI Rallies after Big Crude Draw; Biden Admin Drains SPR for 13th Week in a Row https://t.co/j4VVLp4E8B

Positive aspects of previous session
The DJTA rallied again; Fangs rallied sharply on performance gaming
A late manipulation boosts stocks

Negative aspects of previous session
The DJIA declined, once again diverging from the DJTA.
Gasoline and oil rallied sharply.

Ambiguous aspects of previous session
What impact will Q2 rebalancing have of the markets later his week?

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]: 4375.90
Previous session High/Low: 4390.35; 4360.22

@ClayTravis: 25% of 40 year olds have never married. In 1980 it was just 6%. There’s lots of focus on climate change, way too much, honestly, but do you know what the real biggest danger humanity faces is? We aren’t having enough kids. Human population is on track to collapse in decades ahead.
https://twitter.com/ClayTravis/status/1674093134693662720

Google drops sponsorship of ‘Pride and Drag Show’ after Christian petition
It pulled the show after hundreds of employees signed a fiery petition saying it violated the company’s event guidelines regarding sexually explicit activity…  https://t.co/GsMyRJfzbB

@Jkylebass: National Security Alert ‼ 8,600 Chinese nationals have been apprehended crossing the Texas border from Mexico since Project Lone Star began in March 2021. Why ON EARTH would they need to sneak into the USA illegally?!?! Why not land at DFW airport?
    The only answer to this question should immediately shake Washington DC to its core. @DHSgov
@AliMayorkas needs to have an emergency meeting to stop releasing them into the US without even a screening or an interview. We are at risk from our greatest adversary.

@TexasLindsay_: When this story broke today: ‘Malaria cases discovered in Florida and Texas for the first local spread in 20 years.’ It just so happens these are the two states that allowed billions of Bill Gates’ funded GMO mosquitos to be released in recent years. How did we get here?

House panel demands records of calls during pandemic between CDC and teacher union boss Weingarten – Wenstrup expressed his concerns about “potential political interference.”
https://justthenews.com/government/congress/house-coronavirus-subcommittee-demands-records-calls-between-cdc-and-teachers

GOP @RepThomasMassie: Biden announced $42 billion to get 8.5 million families broadband by 2030. Come on man! That’s $4,941 per family, to be taken from those families and other families in taxes. @elonmusk’s Starlink can do it for $599 per family, and you don’t have to wait 7 years

General Surovikin has been arrested – Moscow Times

@Heroiam_Slava: (Genreals) Surovikin and his deputy Yudin were taken to the Lefortovo detention center. The FSB opened a case on the fact of high treason – rosmedia. Surovikin was aware of the “military coup” being prepared and contributed to its realization in every possible way.
https://twitter.com/Heroiam_Slava/status/1674125648372158480

@igorsushko: Osechkin: And then the draining of the rebellion started. Blackmail and backroom deals began. According to a source, the question was not in some question of forgiveness, but whether to proceed with the battle (in Moscow) where thousands would die, or to delay the battle, or rather liquidations and arrests, to some point in the future.
    And the question was based clearly on the fact that, despite Putin carefully calling them the Wagner *group*, they understand that it’s a terrorist organization.  They fed and armed these terrorists themselves, trained them at GRU (Military Intelligence spetsnaz) bases & at FSB special ops centers.
    And they realized that they lost control over this unit which was formed to fight enemies on foreign soil. They were manipulated into negotiations by this terrorist organization. Which of course they are refusing to admit because doing so would be an admission of weakness.
   Wagner is now in a position to blackmail Russia. They agreed to return heavy armament in return immunity and withdrawal of the criminal investigations… exactly what has now been done by the FSB.
    A huge segment of the FSB has been demoralized according to many sources including according to the #WindofChange himself. The government had to let everyone get off scot-free and now they are being led-on by Wagner. The facade of a strong Putin and a strong FSB is now destroyed.
    The entire civilized world was shocked and horrified to see this terrorist organization pull this off and Wagner PMC at minimum took control of one military base with nuclear weapons (Voronezh-45).
    The civilized world was shocked that Putin, who they considered to be a brutal and powerful leader capable of controlling the entire system inside the country, turned out to be a cowering olden-poop (my best translation for старикашка, kidding. It translates as “old geezer”).
    Geezer behind whose back, coups & rebellions can be executed, and at any time, any part of the Russian nuclear armament can end up in the hands of a terrorist organization, which does have technical capability of using such weapons. Russia can’t even protect its nuclear weapons.

Today – We regularly warn that the penultimate session of a marking period usually contains the peak intensity of performance gaming. This dynamic is even more likely when the rebalancing of portfolios is due in the final session of a quarter. However, traders preparing for expected large-scale selling of equities by institutional money managers rebalancing their portfolios for the end of Q2 might thwart bulls and those trying to manipulation equities higher to embellish Q2 performance.

ESUs are +9.00 at 20:05 ET on buying for expected Q2 performance gaming.

Expected economic data: Q1 GDP 1.4% annualized, Consumption 3.8%, GDP Price Index 4.2%, Core PCE 5.0% q/q; Initial Jobless Claims 265k, Continuing Claims 1.765m; May Pending Home Sales -0.5% m/m, -20.5% y/y; Powell at Bank of Spain 2:30 ET, Atlanta Fed Pres & Uber-dove Bostic 6 ET

S&P 500 Index 50-day MA: 4215; 100-day MA: 4124; 150-day MA: 4067; 200-day MA: 3998
DJIA 50-day MA: 33,611; 100-day MA: 33,356; 150-day MA: 33,458; 200-day MA: 32,889
(Green is positive slope; Red is negative slope)

S&P 500 Index – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are negative – a close above 4514.50 triggers a buy signal
Weekly: Trender and MACD are positive – a close below 4155.73 triggers a sell signal
Daily: Trender is positive; MACD is negative – a close below 4322.91 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 4159.66 triggers a sell signal

@BigFish3000: John Solomon…busts Joe Biden on his secret global burner phone. “One of those documents that got leaked to me had… Hunter Biden’s cell phone number… I called the cell phone and guess who picked up the phone? Joe Biden, Joe Biden… Boy was he shocked when he picked up the phone and found out it was me. He hung pretty quickly…”
https://twitter.com/BigFish3000/status/1674072518754279426

John Solomon reports – He called Hunter’s cell phone and Joe answered! Joe retorted, “I’m sorry; I can’t talk right now.” Solomon says another whistleblower is cooperating with Congressional investigators. “The storm clouds are darkening over the Biden family.”
https://twitter.com/KarliBonnita/status/1674053740687421447

@RNCResearch: Reporter: “How involved were you in your son’s Chinese shake-down text message? Were you sitting there? Were you involved?” Biden: “No, I wasn’t.” Reporter: “Were you?” Biden *yelling*: “No!”  https://twitter.com/RNCResearch/status/1674057971591168000 @kylenabecker: Biden’s excessively tight plastic surgery job is going to snap if he keeps up his unhinged shouting.

@simonateba: President @JoeBiden says Russian President Vladimir Putin “is clearly losing the war in Iraq” WATCH   https://twitter.com/simonateba/status/1674059997414563843

“By the Way, I Turned in All My Notes” – Joe Biden Makes Bizarre Comment about Classified Documents after Rambling About Xi Jinping (VIDEO)
“It was inappropriate for Barack to spend time with [Xi Jinping] but I spent a lot of time with him. I met alone with him, just he and I… 68 times, 68 hours, 68 times — more than 68 hours — by the way, I turned in all my notes,” Biden said. Biden’s handlers are going to send him back to the basement soon…
https://www.thegatewaypundit.com/2023/06/way-i-turned-all-my-notes-joe-biden/

@RealJamesWoods: This is sad and unsettling. Granted dementia is a cruel disease, but the ongoing war between Russia and Ukraine has the potential to be a worldwide nuclear holocaust. America cannot risk strategic fumbling by her president in an arena of this magnitude.

@KateHydeNY: What the heck did Biden have strapped on his face that made these marks this morning?  https://twitter.com/KateHydeNY/status/1674090351017984001

Due to the visible marks on Biden’s face on Wednesday, this appeared (14:343 ET): Biden Has Begun Using CPAP Machine to Aid with Sleep Apnea – BBG

NY Post’s @mirandadevine: He emerged from the White House to answer questions at 9.28 am. How long do CPAP marks last?

@townhallcom: BIDEN: “Less than a y—a guy driving a truck hit a b—anyway—knocked down a whole bridge and—the whole block—four lanes of the highway!”
https://twitter.com/townhallcom/status/1674104180774977537

White House omits Hunter Biden from visitor logs, despite Obama admin disclosing his visits
“The White House will not release access records related to purely personal guests of the First and Second Families (i.e., visits that do not involve any official or political business).”…
https://www.foxnews.com/politics/white-house-omits-hunter-biden-visitor-logs-despite-obama-admin-disclosing-visits

Gaetz demands answers on how FBI agents who kneeled for 2020 protesters allegedly got ‘plum’ promotions – Gaetz said the ‘FBI’s behavior is demoralizing’ to law enforcement from the local to the federal levels…”And Sarah Linden, we understand, now is leading the criminal division of the Washington field office,” Gaetz said. “And if that’s the case, we want to know that that was a decision based on merit, not a decision solely as a consequence of a political performance.”…
https://www.foxnews.com/politics/gaetz-demands-answers-fbi-agents-kneeled-2020-protesters

(Maryland) School District Bans Parents from Attending School Board Meeting on Parental Rights
While the school board usually allowed its meetings to be open to the public, this meeting was instead limited to “scheduled speakers, invited attendees, and other guests.”…
https://amgreatness.com/2023/06/28/school-district-bans-parents-from-attending-school-board-meeting-on-parental-rights/

@greg_price11: I thought this was a paraphrase at first but, no, that’s the actual text of the bill. Michigan Democrats want to put people in jail for 5 years if they make someone “feel terrorized, frightened, or threatened” with their words.  https://twitter.com/greg_price11/status/1674081676773797888

@TuckerCarlson: Ep. 7 Irony Alert: the war for democracy enables dictatorship.
https://twitter.com/TuckerCarlson/status/1673856877841764352

@oldbooksguy: Only Ayn Rand was smart enough to predict that incompetence and an ENVY for excellence will lead to dystopian social outcomes. Orwell thought we’d need total mind control, Huxley thought we’d need a permanently drugged populace, but Rand knew: all you need is resentment

GREG HUNTER

I will see you on FRIDAY

Robert Hryniak
to

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2023. CONTRACT: 590 NOTICES FOR 59,000 OZ or 1.773 TONNES

total notices so far: 20,640 contracts for 2,064,000 oz (64.354 tonnes)

FOR JUNE:

SILVER NOTICES: 34 NOTICE(S) FILED FOR 170 OZ/

total number of notices filed so far this month : 886 for 4,430,000 oz

Another Top Miner Predicts Copper ‘Super Cycle’ Amid Supply Shortage Fears Trigger By Energy Transition

2.ASIAN AFFAIRS//

THURSDAY MORNING//WEDNESDAY NIGHT

a)NORTH KOREA/SOUTH KOREA

b) REPORT ON JAPAN/

3 CHINA

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues//COVID ISSUES/VACCINE ISSUES

7. OIL ISSUES

8 EMERGING MARKET ISSUES

In talk with Wall Street for Main Street, GATA secretary reviews GATA’s work

Prigozhin: Bitcoin Need Not Apply

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Futures Rise As Fed Stress Test Reassures Banks Are Fine

Strong GDP Sparks Surge In Rate-Hike Odds: Bonds, Big-Tech, & Bullion Battered

ES holds above 4,400, Fed’s Chair Powell spoke in Madrid, Riksbank hiked 25bps – Newsquawk US Market Open

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