Shanghai Gold Benchmark Price

USD oz AM1960.14

PM1957.65

Historical SGE Fix

New York price at the time: $1915.00

premium $42.00

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Bitcoin morning price:, $25,946 DOWN 54 Dollars

Bitcoin: afternoon price: $26,108 UP 108 dollars

Platinum price closing $967.80 UP $21.40

Palladium price; $1258.95 UP $29.90

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: $2,611.52 UP 8.25 CDN dollars per oz (ALL TIME HIGH 2,775.35)

BRITISH GOLD: 1523.66 UP 1.61 pounds per oz//(ALL TIME HIGH//CLOSING///1630.29)

EURO GOLD: 1775.10 UP 2.10 euros per oz //(ALL TIME HIGH/CLOSING//1861.21)//

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EXCHANGE: COMEX

CONTRACT: AUGUST 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,911.100000000 USD
INTENT DATE: 08/25/2023 DELIVERY DATE: 08/29/2023
FIRM ORG FIRM NAME ISSUED STOPPED

435 H SCOTIA CAPITAL 101
624 H BOFA SECURITIES 160
657 C MORGAN STANLEY 1
661 C JP MORGAN 62
686 C STONEX FINANCIA 2

TOTAL: 163 163

MONTH TO DATE: 12,036

JPMorgan stopped 0 /163 contracts.

FOR AUGUST:

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2023. CONTRACT: 163 NOTICES FOR 16,300 OZ or 0.5069 TONNES

total notices so far: 12,036 contracts for 1,203,600 oz (37.437 tonnes)

FOR AUGUST:

SILVER NOTICES: 2 NOTICE(S) FILED FOR 10,000 OZ/

total number of notices filed so far this month : 954 for 4,770,000 oz

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END

GLD

WITH GOLD UP $6.90

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/NO CHANGES IN GOLD INVENTORY AT THE GLD: /

INVENTORY RESTS AT 884.04 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER UP 3 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.284 MILLION OZ FROM THE SLV// OZ OF SILVER FROM THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 444.861 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A FAIR SIZED 624 CONTRACTS TO 135,526 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR $0.01 GAIN IN SILVER PRICING AT THE COMEX ON FRIDAY. TAS ISSUANCE WAS A FAIR SIZED 418 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. 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 FRIDAY NIGHT: 418 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 NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.01). AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER CONTRACTS AS WE HAD A STRONG SIZED GAIN OF 506 CONTRACTS ON BOTH EXCHANGES ALONG WITH SOME T.A.S.LIQUIDATION THROUGHOUT THE COMEX SESSION.

WE MUST HAVE HAD:

A HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICALS( 1130 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.105 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 10,000 OZ QUEUE JUMP //NEW STANDING REMAINS AT 4.770 MILLION OZ + OUR NEW CRIMINAL 200 CONTRACTS OF EXCHANGE FOR RISK FOR 1.0 MILLION OZ + EXCHANGE FOR RISK//PRIOR = 8.88 MILLION OZ = 9.88 MILLION OZ/// N: THUS NEW STANDING FOR SILVER IN OZ: 4.770 MILLION OZ + 9.88 MILLION EXCHANGE FOR RISK = 14.650 MILLION OZ/// // // FAIR SIZED COMEX OI LOSS/ HUGE SIZED EFP ISSUANCE/VI) FAIR SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE (418 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL 418 CONTRACTS

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

TOTAL CONTRACTS for 20 days, total 29,497 contracts: OR 147,485 MILLION OZ (1474 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 147.485 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 2022: 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: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 147.485 MILLION OZ (THIS MONTH IS GOING TO BE HUGE

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 624 CONTRACTS WITH OUR GAIN IN PRICE OF $0.01 IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 1130 ISSUED FOR SEPT 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 AUGUST OF 3.105 MILLION OZ FOLLOWED BY TODAY’S 10,000 OZ QUEUE JUMP//NEW STANDING 4.770 MILLION OZ+ 1.0 MILLION EX. FOR RISK //NEW TOTAL EXCH. FOR RISK 9.88 MILLION OZ EXCHANGE FOR RISK// NEW TOTALS STANDING FOR SILVER: 14.65 MILLION OZ//// WE HAVE A STRONG LOSS OF 506 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A FAIR 418 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION . THE NEW TAS ISSUANCE FRIDAY NIGHT (418) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

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

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 735 CONTRACTS TO 434,609 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: 160 CONTRACTS

WE HAD A SMALL SIZED DECREASE IN COMEX OI ( 575CONTRACTS) WITH OUR $6.05 LOSS IN PRICE//THURSDAY. WE ALSO HAD A RATHER SMALL INITIAL STANDING IN GOLD TONNAGE FOR AUGUST. AT 30.656 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 16,200 OZ QUEUE JUMP + PRIOR ISSUANCE OF EXCHANGE FOR RISK = (.684 TONNES) //NEW STANDING 37.944 TONNES + .684 EXCHANGE FOR RISK = 38.628/ + /A FAIR (AND CRIMINAL) ISSUANCE OF 614 T.A.S. CONTRACTS /// ALL OF..THIS HAPPENED WITH OUR $6.05 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING.WE HAD A FAIR SIZED GAIN OF 1423 OI CONTRACTS (4.426 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2158 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 434,609

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1423 CONTRACTS WITH 735 CONTRACTS DECREASED AT THE COMEX// AND A FAIR 2158 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1423 CONTRACTS OR 4.426 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL 614 CONTRACTS)

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2158 CONTRACTS) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (735) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1423 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR JULY AT 30.656 TONNES FOLLOWED BY TODAY’S 16,200 OZ QUEUE JUMP //NEW STANDING 37,944 TONNES + .684 TONNES (EXCHANGE FOR RISK//PRIOR) NEW TOTALS: 38.628 TONNES/// 3) ZERO LONG LIQUIDATION WITH CONSIDERABLE TAS LIQUIDATION DURING THE COMEX SESSION //4) SMALL SIZED COMEX OPEN INTEREST LOSS/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: SMALL T.A.S. ISSUANCE: 614 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

AUGUST

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

TOTAL EFP CONTRACTS ISSUED: 57,292 CONTRACTS OR 5,729,200 OZ OR 178.20 TONNES IN 20 TRADING DAY(S) AND THUS AVERAGING: 2846 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 20 TRADING DAY(S) IN TONNES 178.20 TONNES

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

THUS EFP TRANSFERS REPRESENTS 178,20/3550 x 100% TONNES 5.01% 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/2022: 409.30 TONNES //FINAL( 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: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST: 178.20 TONNES (A STRONGER 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 SEPT. 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 (SEPT), 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 A STRONG SIZED 624 CONTRACTS OI TO 135,526 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 NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE A HUMONGOUS 1130 CONTRACTS

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

SEPT 1130 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1130 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 206 CONTRACTS AND ADD TO THE 1130 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 506 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 2.53 MILLION OZ

OCCURRED DESPITE OUR $0.01 GAIN 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//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING//SUNDAY NIGHT

SHANGHAI CLOSED UP 34.56 PTS OR 1.13% //Hang Seng CLOSED UP 174.36 PTS OR 0.97% /The Nikkei CLOSED UP 545.71 PTS OR 1.73% //Australia’s all ordinaries CLOSED UP .46 % /Chinese yuan (ONSHORE) closed DOWN 7.2930 /OFFSHORE CHINESE YUAN DOWN TO 7.3028 /Oil DOWN TO 79.73 dollars per barrel for WTI and BRENT UP AT 84.27 / Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 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 SMALL SIZED 575 CONTRACTS TO 434,769 WITH OUR LOSS IN PRICE OF $6.05 ON FRIDAY.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 2158 EFP CONTRACTS WERE ISSUED: : DEC 2158 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2158 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR TOTAL OF 1423 CONTRACTS IN THAT 2158 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A SMALL SIZED LOSS OF 735 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $6.05//FRIDAY 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 FRIDAY NIGHT WAS A SMALL 614 CONTRACTS. THROUGHOUT THE PAST WEEKS, 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)//

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: AUGUST (38.628) ( 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

JULY: 10.2861 TONNES

AUGUST: 38.628 TONNES (INCLUDING .6842 EXCHANGE FOR RISK)

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $6.05) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR GAIN OF 1423 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD CONSIDERABLE T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING. THE T.A.S. ISSUED ON FRIDAY 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 4.476 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR AUGUST. (30.656 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 16,200 OZ QUEUE JUMP //NEW STANDING ADVANCES QUITE A BIT TO 37.944 TONNES + .6842 (PRIOR EXCHANGE FOR RISK) //NEW TOTAL 38.628 TONNES // ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $6.05.

WE HAD – REMOVED 160 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST

NET GAIN ON THE TWO EXCHANGES 1423 CONTRACTS OR 142300 OZ OR 4.476 TONNES.

Estimated gold volume today:// 115,561 awful

final gold volumes/yesterday 178,167 awful//speculators have left the gold arena

//AUGUST 28/ FOR THE AUGUST 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	90,022.800 OZ JPMorgan 2800 KILOBARS .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	32,016.620 oz HSBC
No of oz served (contracts) today	163 notice(s) 16300 OZ 0.5069 TONNES
No of oz to be served (notices)	163 contracts 16,300 oz 0.5069 TONNES
Total monthly oz gold served (contracts) so far this month	12,036 notices 1,203,600 OZ 37.437 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

0 dealer deposit:

total dealer deposits: NIL oz

customer deposits: 1

i) Into HSBC: 32,016.620 oz

total customer deposits: 32,016.620 oz

we had 1 customer withdrawals

i) Out of JPMorgan: 90,022,800 oz (2800 kilobars)

total withdrawals 90,022.800 oz

Adjustments; dealer to customer: 96,549.453 oz (3003 kilobars)

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST.

For the front month of AUGUST we have an oi of 326 contracts having LOST 152 contracts. We had 314 contracts filed

on FRIDAY, so we gained 162 contracts or an additional 16,200 oz will stand at the comex,

Sept LOST 32 contracts to 3998.

Oct GAINED 508 contracts to 33,107 contracts.

We had 163 contracts filed for today representing 16,300 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 62 notices were issued from their client or customer account. The total of all issuance by all participants equate to 163 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped received by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the AUGUST /2023. contract month,

we take the total number of notices filed so far for the month (12,036 x 100 oz ), to which we add the difference between the open interest for the front month of AUGUST (326 CONTRACT) minus the number of notices served upon today 163 x 100 oz per contract equals 1,219,900 OZ OR 37.944 TONNES the number of TONNES standing in this active month of AUGUST. + .684 TONNES EXCHANGE FOR RISK/prior = 38.628 tonnes

thus the INITIAL standings for gold for the AUGUST contract month: No of notices filed so far (12,036) x 100 oz + (326) {OI for the front month} minus the number of notices served upon today (163) x 100 oz) which equals 1,219,900 oz standing OR 37.944 TONNES + .684 TONNES OF EXCHANGE FOR RISK/prior = 38.628 TONNES

TOTAL COMEX GOLD STANDING: 38.628 TONNES WHICH IS SMALL 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: 2,071,097.121 OZ 64.41 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 21,550,189.952 OZ

TOTAL REGISTERED GOLD: 10,907,962,556 (339.28 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 10,642,627.406 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,836,865 OZ (REG GOLD- PLEDGED GOLD) 274.86 tonnes//dropping like a stone

END

SILVER/COMEX

AUGUST 28

//2023// THE AUGUST 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	0 oz .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	1,091,772.500 oz ASAHI CNT
No of oz served today (contracts)	2 CONTRACT(S) (10,000 OZ)
No of oz to be served (notices)	0 contracts (NIL oz)
Total monthly oz silver served (contracts)	954 Contracts (4,770,000 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 deposit

total dealer deposit: 0

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 2 deposit customer account:

i) Into ASAHI: 592,572.700 oz

ii) Into CNT 491,199.800 oz

total customer deposits: 1,091,772.500 oz

JPMorgan has a total silver weight: 139.276 million oz/277.232 million =50.14% of comex .//

Comex withdrawals 0

adjustments: 1 and a doozy: JPMorgan customer to dealer; 6,830,735.97 oz

TOTAL REGISTERED SILVER: 42.432 MILLION OZ//.TOTAL REG + ELIGIBLE. 277.232 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:

silver open interest data:

FRONT MONTH OF AUGUST /2023 OI: 2 CONTRACTS HAVING GAINED 1 CONTRACT(S). WE HAD

1 NOTICE FILED ON THURSDAY SO WE GAINED 2 CONTRACTS OR AN ADDITIONAL 10,000 OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF AUGUST.

SEPT HAS A LOSS OF 5566 CONTRACTS DOWN TO 22,154

OCT GAINED 52 CONTRACT TO STAND AT 690.

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

Comex volumes// est. volume today 66,802 strong

Comex volume: confirmed yesterday: 90,192 huge

To calculate the number of silver ounces that will stand for delivery in AUGUST. we take the total number of notices filed for the month so far at 954 x 5,000 oz = 4,770,000 oz

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

Thus the standings for silver for the AUGUST/2023 contract month: 954 (notices served so far) x 5000 oz + OI for the front month of AUGUST (2) – number of notices served upon today (2 )x 500 oz of silver standing for the AUGUST contract month equates to 4.770 million oz.+ 1.0 MILLION OZ EXCHANGE FOR RISK ISSUED TODAY+ //NEW TOTAL EXCHANGE FOR RISK: 9.88 MILLION OZ//NEW SILVER STANDING: 14.65 MILLION oz.

There are 42.432 million oz of registered silver.

Thus if we take today’s standing at 14.65 and add last month’s 30.9 million oz we have 44.540 million oz against only 42.432 million registered silver.

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

END

GLD AND SLV INVENTORY LEVELS

AUGUST 28/WITH GOLD UP $6.90 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: / //INVENTORY RESTS AT 884.04 TONNES

AUGUST 25/WITH GOLD DOWN $6.05 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .87 TONNES OF GOLD FROM THE GLD// //INVENTORY RESTS AT 884.04 TONNES

AUGUST 24/WITH GOLD UP $0.65 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD //INVENTORY RESTS AT 884.91 TONNES

AUGUST 23/WITH GOLD UP $21.35 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 4.32 TONNES OF GOLD FROM THE GLD//: //: /// //INVENTORY RESTS AT 884.91 TONNES

AUGUST 22/WITH GOLD UP $2.95 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 0.87 TONNES OF GOLD FROM THE GLD//: //: /// //INVENTORY RESTS AT 889.23 TONNES

AUGUST 21/WITH GOLD UP $7.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.60 TONNES OF GOLD FROM THE GLD//: //: /// //INVENTORY RESTS AT 890.10 TONNES

AUGUST 18/WITH GOLD UP $1.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 6.92 TONNES OF GOLD FROM THE GLD//: //: /// //INVENTORY RESTS AT 887.50 TONNES

AUGUST 17/WITH GOLD DOWN $12.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: //: /// //INVENTORY RESTS AT 894.42 TONNES

AUGUST 16/WITH GOLD DOWN $7.00 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES FORM THE GLD//: /// //INVENTORY RESTS AT 894.42 TONNES

AUGUST 15/WITH GOLD DOWN $7,45 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.76 TONNES FORM THE GLD//: /// //INVENTORY RESTS AT 895.87 TONNES

AUGUST 14/WITH GOLD DOWN $2.10 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.75 TONNES FORM THE GLD//: /// //INVENTORY RESTS AT 899.63 TONNES

AUGUST 11/WITH GOLD DOWN $2.10 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .31 TONNES FORM THE GLD//: /// //INVENTORY RESTS AT 903.31 TONNES

AUGUST 10/WITH GOLD DOWN $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: /// //INVENTORY RESTS AT 903.69 TONNES

AUGUST 9/WITH GOLD DOWN $8.75 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: /// //INVENTORY RESTS AT 903.69 TONNES

AUGUST 8/WITH GOLD DOWN $9.60 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.31 TONNES FORM THE GLD /// //INVENTORY RESTS AT 903.69 TONNES

AUGUST 7/WITH GOLD DOWN $5.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: /// //INVENTORY RESTS AT 906.00 TONNES

AUGUST 4/WITH GOLD UP $7.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.18 TONNES OF GOLD FROM THE GLD/// .///INVENTORY RESTS AT 906.00 TONNES

AUGUST 3/WITH GOLD DOWN $5.25 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD //: //: / .////INVENTORY RESTS AT 909.18 TONNES

AUGUST 2/WITH GOLD DOWN $3.45 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 3.75 TONNES OF GOLD FROM THE GLD//: //: / .////INVENTORY RESTS AT 909.18 TONNES

AUGUST 1/WITH GOLD DOWN $28.45 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 2.89 TONNES OF GOLD FROM THE GLD//: //: / .////INVENTORY RESTS AT 912.93 TONNES

JULY 31/WITH GOLD UP $9.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 2.89 TONNES OF GOLD FROM THE GLD//: //: / .////INVENTORY RESTS AT 912.93 TONNES

JULY 28/WITH GOLD UP $14.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD//: //: / .////INVENTORY RESTS AT 915,82 TONNES

JULY 27/WITH GOLD DOWN $21.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.74 TONNES OF GOLD FROM THE GLD//: //: / .////INVENTORY RESTS AT 917.26 TONNES

JULY 26/WITH GOLD UP $6.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: //: / .////INVENTORY RESTS AT 919.00 TONNES

JULY 25/WITH GOLD UP $2.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: //: / .////INVENTORY RESTS AT 919.00 TONNES

JULY 24/WITH GOLD DOWN $4.65 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.20 TONNES OF GOLD INTO THE GLD//: / .////INVENTORY RESTS AT 919.00 TONNES

JULY 21/WITH GOLD DOWN $3.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD: / .////INVENTORY RESTS AT 913.80 TONNES

JULY 20/WITH GOLD DOWN $8.70 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.73 TONNES FROM THE GLD/ .////INVENTORY RESTS AT 913.80 TONNES

GLD INVENTORY: 884.04 TONNES

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

AUGUST 28/WITH SILVER UP 3 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.281 MILLION OZ OZ FROM THE SLV// /.////INVENTORY RESTS AT 444.861 MILLION OZ

AUGUST 25/WITH SILVER UP ONE CENT TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.751 MILLION OZ OZ FROM THE SLV// /.////INVENTORY RESTS AT 446.145 MILLION OZ

AUGUST 24/WITH SILVER DOWN 16 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.651 MILLION OZ OZ FROM THE SLV// /.////INVENTORY RESTS AT 448.896 MILLION OZ

AUGUST 23/WITH SILVER UP 94 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 826,000 OZ FROM THE SLV// /.////INVENTORY RESTS AT 450.547 MILLION OZ

AUGUST 22/WITH SILVER UP 12 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: /.////INVENTORY RESTS AT 451.373 MILLION OZ

AUGUST 21/WITH SILVER UP 59 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 917,0000 OZ FROM THE SLV//.////INVENTORY RESTS AT 451.373 MILLION OZ

AUGUST 18/WITH SILVER UP 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//.////INVENTORY RESTS AT 452.290 MILLION OZ

AUGUST 17/WITH SILVER UP 15 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//.////INVENTORY RESTS AT 452.290 MILLION OZ

AUGUST 16/WITH SILVER DOWN 13 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.275 MILLION OZ INTOTHE SLV/: / .////INVENTORY RESTS AT 452.290 MILLION OZ

AUGUST 15/WITH SILVER DOWN 6 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 0.275 MILLION OZ INTOTHE SLV/: / .////INVENTORY RESTS AT 452.290 MILLION OZ

AUGUST 14/WITH SILVER DOWN 3 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 0.459 MILLION OZ INTOTHE SLV/: //////INVENTORY RESTS AT 452.565 MILLION OZ

AUGUST 11/WITH SILVER DOWN 6 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 1.926 MILLION OZ INTOTHE SLV/: // OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 452.106 MILLION OZ

AUGUST 10/WITH SILVER UP 6 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 8,807 MILLION OZ OUT OF THE SLV/: // OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 450.180 MILLION OZ

AUGUST 9/WITH SILVER DOWN 7 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 8,807 MILLION OZ OUT OF THE SLV/: // OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 450.180 MILLION OZ

AUGUST 8/WITH SILVER DOWN 40 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 458.987 MILLION OZ

AUGUST 7/WITH SILVER DOWN 46 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 458.987 MILLION OZ

AUGUST 4/WITH SILVER UP 1 CENT TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.294 MILLION OZ FROM THE SLV// OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 458.987 MILLION OZ

AUGUST 3/WITH SILVER DOWN 16 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 189,000 OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 451.281 MILLION OZ

AUGUST 2/WITH SILVER DOWN 43 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 275,000 OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 451.471 MILLION OZ

AUGUST 1/WITH SILVER DOWN 61 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 184,000 OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 451.746 MILLION OZ

JULY 31/WITH SILVER UP 45 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 184,000 OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 451.746 MILLION OZ

JULY 28/WITH SILVER UP 15 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 550,000 OZ OF SILVER FROM THE SLV// .////INVENTORY RESTS AT 451.930 MILLION OZ

JULY 27/WITH SILVER DOWN 59 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: .////INVENTORY RESTS AT 452.480 MILLION OZ

JULY 26/WITH SILVER UP 15 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: .////INVENTORY RESTS AT 452.480 MILLION OZ/

JULY 25/WITH SILVER UP 24 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A SMALL WITHDRAWAL OF 826,000 OZ FROM THE SLV..////INVENTORY RESTS AT 452.480 MILLION OZ/

JULY 24/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: ////INVENTORY RESTS AT 453.306 MILLION OZ/

JULY 21/WITH SILVER DOWN 14 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1.101 MILLION OZ OF SILVER FROM THE SLV ////INVENTORY RESTS AT 453.306 MILLION OZ/

JULY 20/WITH SILVER DOWN 38 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1.468 MILLION OZ OF SILVER FROM THE SLV ////INVENTORY RESTS AT 454.107 MILLION OZ/

CLOSING INVENTORY 444.861 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

Peter Schiff: Jerome Powell’s Jackson Hole Speech Was Full Of Holes

https://WWW.ZEROHEDGE.COM/MARKETS/PETER-SCHIFF-JEROME-POWELLS-JACKSON-HOLE-SPEECH-WAS-FULL-HOLES

MONDAY, AUG 28, 2023 – 10:00 AM

Via SchiffGold.com,

Federal Reserve Chairman Jerome Powell delivered his annual speech at Jackson Hole on Friday. Peter Schiff broke the speech down in his podcast and said the speech itself was full of holes.

It wasn’t so much what he said, but what he left out.

Very early in the speech, stocks started to sell off, along with gold as the dollar rose when Powell said the Fed still has a very long way to go to get price inflation back to 2%. Peter called that one of the biggest understatements of the year — maybe of the century.

It’s not that they have a long way to go. They have an impossible distance to travel. In fact, the route is so far between where we are and where the Fed thinks it’s going to get that it’s basically a mission impossible. There’s no way that the Fed is going to complete this journey.”

Powell made some other hawkish statements, reiterating that the central bank is going to remain resolute in the inflation fight. He also emphasized that 2% is the target and that the Fed won’t move the goalposts and accept a higher rate.

While the markets initially sold off on the speech, they recovered later in the day.

The markets just totally shrugged it off, which is what the market has been doing. Yes, we’ve had a decent correction off the highs, but the market has basically held up very well in relation to the carnage in the bond market.”

Peter said he expects the bond market carnage to continue and Powell’s Jackson Hole speech reinforces the momentum to the downside that we’re seeing in bonds.

Peter said the most interesting part of the speech wasn’t what Powell said, but what he left out.

The whole point of raising interest rates is to slow down aggregate demand. Raising rates makes borrowing more expensive and theoretically slows down consumption. But Powell never addresses the elephant in the living room — aggregate demand isn’t going down.

It doesn’t matter that the Fed has raised interest rates. It’s done nothing. And one of the main reasons it’s done nothing is because at the same time the Fed is pursuing a higher monetary policy of quantitative tightening and interest rate hikes, the US federal government is pursuing the opposite policy. The US government is now running one of the most expansive, stimulative fiscal policies in our nation’s history.”

Peter noted the massive budget deficits. With two months left to go, the deficit for fiscal 2023 already stood at $1.61 trillion. Based on the deficit, you would think the US economy is in the midst of a deep recession. In fact, the 2023 deficit will be higher than any deficit the Obama administration ran during the Great Recession.

Meanwhile, the Atlanta Fed recently upped its Q3 GDP estimate to 5.9%.

According to the Federal Reserve, the economy is booming and Powell is talking about how they’re reducing aggregate demand with their rate hikes. They haven’t reduced anything. But the point I’m making is we’ve got this growing economy, yet despite this growing economy we are running budget deficits that are close to $2 trillion per year. Now, if we’re running deficits of $2 trillion a year when the economy is good — when it’s growing, supposedly, what’s going to happen during the next recession?”

The bottom line is we already have a massive stimulative fiscal policy that is working at cross-purposes with the Fed.

How can the Fed not mention this? How can the Fed not say, ‘Look, we’ve got a problem here. We’re trying to fight inflation but the government is undermining our efforts. We’re trying to reduce aggregate demand by raising rates, and the reason it hasn’t worked, one of the reasons, is because the government is doing the opposite. The government is undermining everything we’re trying to achieve with its stimulative fiscal policy.’”

In just 72 days, the Biden administration added over $700 billion to the national debt.

A few years ago, that was more red ink than we built up in an entire year. … The budget deficits are going up. We’re stimulating more and more. That is going to undermine everything the Fed has done, and nothing that the Fed has done is going to work in the face of this fiscal policy that is so stimulative.”

The Fed is also fighting against the lag effect of more than a decade of easy money.

All the money that the Fed has been creating through QE1, QE2, QE3, QE4, those effects are still being pushed out in the economy. Yes, the Fed is backing off now, but that’s not going to do anything about all the inflation that’s still in the pipeline and what the government is doing now that is ultimately going to cause the Fed to reverse course.”

Peter raises the key question.

How is it that Powell can give this speech with all the world looking at him talking about inflation and ignoring this problem? What Powell should be doing is warning about these big deficits and saying, ‘Congress needs to help out here. I can’t do this all by myself.’”

Last year, Fed economists even admitted the central bank can’t rein in price inflation with monetary policy alone. But Peter said Powell is too big of a wimp to call out the Biden administration.

You can’t ignore fiscal policy when you’re running monetary policy. You can’t say, ‘Hey, there’s a separation here and I don’t want to interfere with what Congress is doing.’ No! He’s got to interfere. In fact, he’s paid to interfere. The idea that there is an independent Fed — it’s supposed to be independent from Congress, not the other way around. It’s not that the Fed is not supposed to point out when Congress is doing something wrong or the president. No, that is the job of the Fed chairman. If Congress is running these big deficits, and it’s creating a problem for inflation, if it’s creating a problem for the Fed and the public, the Fed chairman is supposed to call them out. The Fed chairman is supposed to say, ‘Hey, you’ve got to cut spending. You’ve got to bring down these deficits.”

Peter goes on to parse out some of the economic data, revealing the failure of the Fed’s inflation

fight.:https://www.zerohedge.com/markets/peter-schiff-jerome-powells-jackson-hole-speech-was-full-holes

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 for sure: the West is losing control over the gold price

(Jan Nieuwenhuijs)

Jan Nieuwenhuijs: The West is losing control over the gold price

Submitted by admin on Fri, 2023-08-25 12:47Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Friday, August 25, 2023

An important change has unfolded in the global gold market. The East has been driving up the gold price, predominantly in late 2022 and the first months of 2023, breaking the West’s long standing pricing power.

Until recently, Western institutional money was driving the price of gold in wholesale markets such as London, mainly based on real interest rates. Gold was bought when real rates fell and vice versa. However, from late 2022 until June 2023 gold was up 17% while real rates were more or less flat, and Western institutions were net sellers. Most likely, Eastern central banks, and Turkish and Chinese private demand, lifted the price of gold. …

… For the remainder of the analysis:

https://www.gainesvillecoins.com/blog/the-west-is-losing-control-over-gold-price

end

As oil exporters accept local currencies for their oil, we will definitely see the end of the Petro-dollar scheme and these settlements will replace the dollar.

(GlobalTimes/Beijing)

As big oil exporters join BRICS, local currency settlements may replace dollar

Submitted by admin on Fri, 2023-08-25 20:06Section: Daily Dispatches

From Global Times, Beijing
Friday, August 25, 2023

With Iran, Saudi Arabia, and the United Arab Emirates joining BRICS, the multilateral mechanism now includes major global oil producers and importers. Analysts said that a wider adoption of local currencies for trade among BRICS countries, rather than using the U.S. dollar, seems more natural.

Six candidates — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates — will be admitted as BRICS members on January 1, 2024, South African president announced on Thursday at the BRICS summit. Currently, BRICS members include Brazil, Russia, India, China and South Africa.

A Shanghai-based oil industry insider told the Global Times today on the condition of anonymity that having oil producers and consumers as members will set a foundation for BRICS members to use local currencies in settlement, which can definitely reduce transaction costs, adding that people are witnessing the twilight of the petrodollar. …

… For the remainder of the report:

https://www.globaltimes.cn/page/202308/1296990.shtml

end

END

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES

END

5 a. IMPORTANT COMMENTARIES ON COMMODITIES:

end

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED DOWN TO 7.2930

OFFSHORE YUAN: UP TO 7.3028

SHANGHAI CLOSED DOWN 34.56 PTS OR 1.13%

HANG SENG CLOSED DOWN 174.36 PTS OR 0.97%

2. Nikkei closed DOWN 174.36 OR 0.93%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX UP TO 104.04 EURO RISES TO 1.0809 UP 27 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.651 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.01/JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

3f Japan is to buy INFINITE TRILLION YEN’S worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.5690***/Italian 10 Yr bond yield UP to 4.237*** /SPAIN 10 YR BOND YIELD RISES TO 3.590…**

3i Greek 10 year bond yield RISES TO 3.855

3j Gold at $1915.25 silver at: 24.22 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 17 /100 roubles/dollar; ROUBLE AT 95.25//

3m oil into the 79 dollar handle for WTI and 84 handle for Brent/

3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146.55// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.651% STILL ON CENTRAL BANK (JAPAN) INTERVENTION

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8842 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9558well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 4.239 DOWN 0 BASIS PTS…

USA 30 YR BOND YIELD: 4.278 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD: 5.104 UP 6 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 26.56…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: DOWN 3 BASIS PTS AT 4.487

end

2.a Overnight: Newsquawk and Zero hedge:

2 A) NOW NEWSQUAWK (usa/REPORT)/

Futures Rise After Traders Digest Powell’s J-Hole Nothingburger, China Market Stimmy

MONDAY, AUG 28, 2023 – 08:16 AM

US futures ticked up Monday in a muted session with the UK on holiday, after China unveiled a raft of modest stimulus measures meant to lift its equity market (it worked… for a few hours) and as the market looked set to build on gains made Friday on Powell’s cautious Jackson Hole comments on future interest rate moves. S&P futures climbed 0.2% while contracts on the Nasdaq 100 rose 0.3% by 7:42 a.m. ET; stocks also advanced in Europe and in China, where the government announced support for equity markets; however what was the biggest rally in 5 years quickly fizzled as a gain of over 5% in the CSI300 quickly faded to just 1%. Both the S&P 500 and Nasdaq are set for their first monthly decline since February amid concerns that the Fed could keep a hawkish policy outlook given the resilience of the US economy.

In premarket trading, 3M gained 4% after Bloomberg News reported it tentatively agreed to pay more than $5.5 billion to resolve lawsuits claiming it sold the US military defective combat earplugs. Hawaiian Electric surged as much as 43% in US premarket trading Monday, after subsidiary Hawaiian Electric released a statement on the fires, saying its power lines to Lahaina were not energized when an afternoon fire broke out on Aug. 8. Xpeng’s shares advance 4.5% after it agreed to buy Didi Global Inc.’s smart-car development arm in a deal that both eliminates a potential competitor in the crowded electric-vehicle market and gives it a tech-savvy partner in a new venture.

Chinese stocks listed in the US will be closely watched after Chinese authorities asked some mutual funds to avoid selling equities on a net basis a day after financial regulators announced a slew of measures to boost the local stock market.

In his Friday speech in Jackson Hole, Wyoming, Powell did not break new ground, and reiterated that the Fed will proceed “carefully,” leaving room for the Fed to hold rates steady at its next meeting in September without committing in either direction. He also signaled rates will stay high and could rise even further should the economy and inflation fail to cool.

Powell stuck to the script in his Jackson Hole speech, saying that the Fed is “prepared to raise rates further if appropriate,” even as he stressed that the central bank would “proceed carefully,” guided by economic data. Lagarde, likewise, said the ECB would set borrowing costs as high as needed to keep inflation in check but stopped short of signaling an increase at the next meeting.

“Not much was said that changed our outlook for US equities,” RBC Capital Markets strategist Lori Calvasina wrote in a note. “Equity investors have already been wrapping their heads around the idea that rates may be higher for longer, that it’s possible the Fed’s job may not be done just yet, and that they are data dependent. That message seemed reinforced Friday.”

Echoing what we said, John Stoltzfus, chief investment strategist at Oppenheimer, said that there were no real surprises from Powell’s comments on Friday, and despite some progress on the inflation front, uncertainty regarding the next monetary policy moves remains high.

“We remain positive on stocks at this juncture recognizing that some volatility and market chop are likely to be expected as the process of arresting inflation remains a work in progress,” he said, noting that “exiting a crisis or a period of high inflation are never easy nor overnight achievements”.

European stocks also rose on Monday as China’s stimulus to lift its equity market boosted risk sentiment, while investors considered the outlook for interest rates after cautious remarks from Federal Reserve Chair Jerome Powell. The Stoxx 600 Index was up 0.7% tracking a rally in Asian peers as China cut stamp duty on stock trades for the first time since 2008 and pledged to slow the pace of initial public offerings. Technology and construction stocks led the gains in Europe as all industry sub-indexes advanced. With UK markets closed for a bank holiday, trading volumes were two-thirds lower than the 30-day average for this time of day. Here are the most notable European movers:

Deutsche Pfandbriefbank shares gain as much as 2% after Warburg initiated coverage of the German real estate lender with a buy recommendation, saying its outlook is promising amid rising rates in a “challenging environment”
Valneva jumped as much as 6.9% in early trade after the French biotechnology company reported positive initial Phase 3 safety data in adolescents for its single-dose chikungunya virus vaccine candidate
BW Offshore falls as much as 12%, the most since March 2022, after the Norwegian offshore vessel operator reported a disappointing 2Q, according to analysts, with the impact of cost inflation on its Barossa gas project the key negative

Ulrich Urbahn, head of multi-asset strategy and research at Berenberg, said that while the new stimulus measures from China should boost stocks in the short term, US labor market data this Friday will have a strong bearing on the market. “Central banks remain data-dependent, which makes the outlook more uncertain,” Urbahn said.

Trading could also be more volatile as, starting Monday, Deutsche Boerse AG’s Eurex will list Euro Stoxx 50 0DTE derivatives that expire every weekday, following US peers who introduced the now-booming contracts tied to the S&P 500 last year. Every trading session, investors in Europe will be able to buy and sell derivatives expiring the same day, known as zero-days-to-expiration contracts.

Earlier in the session, Asian markets rose after Beijing reduced the levy charged on stock trades, among other measures. Chinese stocks pared most of their early gains, however, showing once again that efforts to boost its markets are falling flat in the face of economic worries. The MSCI Asia Pacific Index advanced as much as 1.7%, on course for its best day this month, with Tencent and Alibaba among the biggest boosts. China’s key mainland stock gauge and a measure of Hong Kong-listed tech stocks each soared more than 5% in early trading before paring gains to almost nothing as foreign funds accelerated their selling through the day, poised to take this month’s outflows to the biggest on record.

“The China authorities are clearly stepping up efforts to rebuild confidence in Beijing’s policy commitment to achieve growth and support the market,” said Xiaojia Zhi, chief China economist at Credit Agricole. “But then a fundamental growth improvement as well as tangible policy action onshore is needed to really turn the mood around, and therefore more time could be needed.” China Evergrande Group slumped as much as 87% in Hong Kong trading

China was the main focus of attention after Beijing announced a series of steps to shore up investor confidence, including lowering a stamp duty on stock trades for the first time since 2008 and pledging to slow the pace of initial public offerings. Some brokerage and property stocks rose by their daily limits on the government’s efforts.

Japan’s Nikkei 225 was supported by its energy sector, with the index eventually surging above the 32k mark seeing some early resistance around the level.
ASX 200 was supported by the energy and gold sectors whilst the broader mining sector was subdued by Fortescue Metals Group, which missed on net expectations and reported an impairment charge.
Stocks in India advanced on Monday, tracking gains in most regional peers. The small-sized companies’ gauge extended yearly gains to more than 25%, helped by a rally in capital goods and industrial stocks. The S&P BSE Sensex rose 0.2% to 64,996.60 in Mumbai, while the NSE Nifty 50 Index advanced by a similar measure. S&P BSE Smallcap Index rose 0.6% to its record.

In FX, the Bloomberg Dollar Index was little changed, with the Swiss franc 0.1% higher and outperforming G10 counterparts while the Norwegian krone lagged peers. The Aussie dollar rose on leveraged demand in view of sharp gains in Chinese stocks, according to Asia-based FX traders, who added an estimate beat in Australian retail sales also helped. Currencies in the Central European region turned weaker after central bankers from the Fed and the ECB indicated the possibility of higher core interest rates.

In rates, 10-year Treasuries rose for a second day, with the yield dropping 2bps to 4.22%. The yield curve was flatter and 2-year yields near YTD high ahead of a compressed auction schedule that includes both 2- and 5-year note sales Monday. Current 2-year touched 5.102%, highest since July 6, when YTD high 5.118% was reached. WI yield exceeds 2-year auction results since 2006. 10-year yields little changed at ~4.23% with 2s10s and 5s30s spreads flatter by 2bp-3bp on the day; bunds underperform slightly and UK markets are closed for bank holiday. Compressed auction schedule begins with $45b 2-year at 11:30am followed by $46b 5-year sale at 1pm. Money markets raised peak Fed wagers, pricing 17bps of hikes by year-end compared to 16bps on Friday.

In commodities, WTI held a gain as China announced measures to boost its stock and property markets, helping offset concerns about increased supply and monetary tightening in the US and Europe.Gold was unchanged around $1915, while bitcoin was as usual lower.

Market Snapshot

S&P 500 futures up 0.2% to 4,423.75
MXAP up 1.0% to 159.62
MXAPJ up 0.7% to 500.83
Nikkei up 1.7% to 32,169.99
Topix up 1.5% to 2,299.81
Hang Seng Index up 1.0% to 18,130.74
Shanghai Composite up 1.1% to 3,098.64
Sensex up 0.5% to 65,202.12
Australia S&P/ASX 200 up 0.6% to 7,159.84
Kospi up 1.0% to 2,543.41
STOXX Europe 600 up 0.6% to 454.32
German 10Y yield little changed at 2.57%
Euro little changed at $1.0800
Brent Futures up 0.2% to $84.68/bbl
Gold spot down 0.0% to $1,914.01
U.S. Dollar Index little changed at 104.17

Top Overnight News

Foxconn founder Terry Guo formally entered the Taiwanese presidential race on Monday (Guo is in favor of conducting talks with China to preserve peace). FT
China confirmed recent media reports and said it would slash the stamp duty on stock trading by 50%, a move aimed at restoring market confidence. China also said it would slow the pace of IPOs in an effort to bolster its stock market. BBG
Evergrande shares reopened for trading for the first time in nearly 1.5 years and the Chinese property developer saw its stock collapse ~80%. FT
BOJ’s Ueda says Japan’s underlying inflation is still a bit below the central bank’s target, which is why the present monetary policy framework remains appropriate. Nikkei
Germany’s ruling Social Democratic party will propose a three-year rent freeze in a bid to clamp down on inflation and provide relief on soaring housing costs. FT
President Volodymyr Zelensky of Ukraine said on Sunday that he believes Washington will offer his country security guarantees similar to those Israel enjoys in its relationship with the United States, a durable partnership that does not depend on which party controls the White House. NYT
The FTC suspended its challenge of Amgen’s $27.8 billion acquisition of Horizon Therapeutics giving the agency time to weigh a settlement that would allow the deal to close with conditions. WSJ
Trucking industry is set to see a pickup in demand as retailers end their aggressive destocking cycles and begin preparing for the holidays. RTRS
The US will release a list of 10 drugs this week that Medicare will be able to negotiate prices for, potentially saving taxpayers billions of dollars and squeezing profits for pharma companies. Analysts expect J&J’s Xarelto blood thinner and Eli Lilly’s Jardiance for diabetes to be among the medications chosen. BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks kicked off the week in the green, following a similar lead from Wall Street, whilst the focus overnight was on Chinese stocks after Friday’s support measures announced by authorities. ASX 200 was supported by the energy and gold sectors whilst the broader mining sector was subdued by Fortescue Metals Group, which missed on net expectations and reported an impairment charge. Nikkei 225 was also supported by its energy sector, with the index eventually surging above the 32k mark seeing some early resistance around the level. Hang Seng and Shanghai Comp were boosted at the open with the Mainland posting gains north of 3% as markets reacted to Friday’s measures to boost investor confidence. In Hong Kong, China Evergrande slumped 80% after resuming trade following a 17-month hiatus.

Top Asian News

China’s Finance Ministry said China will cut stamp duty on stock trading by half from August 28th, according to Reuters.
The Chinese Securities Regulator said China will slow the pace of IPOs and further regulate share reductions. The regulator added that exchanges will also lower margin requirements, according to Reuters.
China today suspended some quantitative T+0 algorithmic trading via brokers amid concerns that T+0 may encounter one-sided market conditions and lead to risk exposure, STCN media reported
China Evergrande (3333 HK) H1 2023 (CNY): Net -33bln (prev. -64.2bln YY). Revenue 128.2bln (prev. 89.3bln). Co. said its ability to continue will depend on a successful implementation of an offshore debt restructuring plan, and successful negotiations with the rest of the lenders on repayment extensions, according to Reuters.
China has asked some funds to refrain from net equity sales in order to boost the market, according to Bloomberg News.
PBoC injected CNY 332bln via 7-day reverse repos with the rate at 1.80% for a CNY 298bln net injection, according to Reuters.
Foxconn (2317 TT) founder Terry Gou is to run for the Taiwanese presidency, according to Reuters.
New Zealand said it is to trim budget allowances and measures amid a deterioration in the global economy and particularly in China, according to Reuters.
BoJ Governor Ueda said underlying inflation is still below 2%, which is a reason to stick to the current monetary policy approach. He added that domestic demand is still on a healthy trend, although this needs to be confirmed by Q3 data, according to Reuters. He added that for Japan, the US strength is offsetting some of China’s weakness, and the weakness in China appears to be centred on the property market.
Japan raises view on exports in August for the first time in 3 months says the trend is “picking up recently”; Overall view on economy, saying it is “recovering moderately”.

European bourses are in the green, Euro Stoxx 50 +0.6%, as the region derives impetus from APAC strength in holiday-thinned trade on a UK Bank Holiday. Sectors post similar performance and feature outperformance in Tech names after SCMP reports Chinese demand for ASML’s lithography machines has already eclipsed the 2023 projection. Real Estate names lag after reports that Germany is to vote on a proposal to lower rent increase limits. Stateside, futures are incrementally firmer, ES +0.2%, taking cues from the above narrative with fundamentals light otherwise. The US session features commentary from Fed’s Barr.

Top European News

The UK Metropolitan Police is on high alert following a significant security breach that led to officers’ and staff’s details being hacked. All 47k personnel have been notified about the potential exposure of their photo, names, and ranks, according to Sky News. Germany’s ruling Social Democratic Party will vote on a proposal to lower limits on rent increases in a bid to tackle inflation. The proposal calls for a three-year residential rent cap of 6%, according to Bild citing a draft resolution. EU Council President Michel says the EU must be prepared to accept new member states by 2030, via FT citing written remarks. ECB’s Holzmann (Hawk) sees case for rate hike if no surprises turn up; says should start debate on ending PEPP reinvestments, according to Bloomberg; behind the curve, can start assessing policy when at 4.0%. Fitch affirms the Czech Republic at “AA-“; outlook Negative.

DXY dips below 104.000 and further from Friday’s 104.440 best, but the Buck retains a firm underlying bid.
Euro regroups after losing 200 DMA, but is capped by decent option expiry interest extending from 1.0795 to 1.0900.
Yen hovers near circa 146.63 lows as BoJ Governor Ueda underlines reasons to remain ultra-accommodative.
Aussie fades amidst hefty option expiries vs. Greenback just above 0.6400 after a brief boost from better-than-expected retail sales data and Yuan rebound.
Sterling sags in UK holiday-thinned trade and irrespective of BoE’s Broadbent saying rates may have to stay restrictive for some time.
Cable unable to hold above 1.2600
PBoC sets USD/CNY mid-point at 7.1856 vs exp. 7.2854 (prev. 7.1883)

Fixed Income

Bonds back to bearish path of least resistance and pick-up in trading volumes infers more conviction on the sell-side.
Bunds have moved convincingly below Friday’s low at 86, now at the trough of 132.33-131.72 parameters.
T-note a tad more resilient within 109-19/10 range ahead of Dallas Fed manufacturing survey, 2- and 5-year auctions.

Commodities

Crude benchmarks are a touch firmer with the broader macro narrative deriving impetus from Chinese stimulus, though brief pressure was seen as the USD printed a fresh intra-day peak; currently, WTI & Brent Oct’23 are holding around USD 80.00/bbl and USD 84.50/bbl respectively, within relatively narrow sub-1/bbl parameters
Gas is in the green though only modestly so as the Offshore Alliance now has the mandate from workers for potential strike action, but is yet to give notice for protected industrial action.
An oil leak has been found in a transmission pipeline linking Kharg Island to Iran’s Genaveh port, according to Tasnim. The magnitude of the spill was not specified, according to Reuters.
Chevron (CVX) Australia LNG workers at Wheatstone offshore have voted to authorise the union to call strike action if needed; the Offshore Alliance says protected industrial action notices against Chevron (CVX) will be filed shortly.
NHC says Tropical Storm Idalia about 125 miles south of the western tip of Cuba has maximum sustained winds of 65mph; expected to become a hurricane today.
Spot gold is unchanged at the midpoint of USD 1913-1917/oz bounds and similarly to the USD is struggling for clear and lasting direction, base metals are firmer given Chinese stimulus.

Geopolitics

Russia’s Investigation Committee confirmed Wagner leader Prigozhin was among those who died in the plane crash, according to Reuters.
Russian SU-30 plane escorted a US drone Reaper over the Black Sea, according to Ria.
Russian Foreign Minister Lavrov and the Turkish Foreign Minister are to hold discussions in Moscow, Russia soon, via Tass.
US Trade Secretary Tai reportedly raised concerns with India over its new order mandating licenses for the import of some tech products such as personal computers, laptops, and tablets, according to a statement cited by Reuters.
Three US marines have died and five have been seriously injured after a helicopter crashed during a military exercise in Australia, according to Sky News.
China will hold the third China-Africa peace and security forum between August 28th and September 2nd, according to the Chinese Defence Ministry cited by Reuters.
The Taiwan Defence Ministry said 6 Chinese aircraft crossed the Taiwan Strait median line in the past 24 hours.
Chinese Commerce Minister met with US counterpart Raimondo on Monday; Raimondo said the US wants healthy competition with Beijing, does not intend to hinder Chinese progress, and sees many areas they can work with China, according to Bloomberg.

US Event Calendar

10:30: Aug. Dallas Fed Manf. Activity, est. -19.0, prior -20.0

2 B.EUROPE/ASIA.

Equities bid, Fixed & DXY subdued & Energy lifted on NHC updates; Fed’s Barr due – Newsquawk US Market Open

MONDAY, AUG 28, 2023 – 06:04 AM

Equities are in the green with fresh drivers limited and markets deriving impetus from APAC upside
DXY has dipped below 104.00 with peers generally contained, JPY near lows as Ueda underlines reasons to remain ultra-accommodative
Energy benchmarks firmer amid numerous NHC and Offshore Alliance updates
Bunds test Friday’s trough in a return to the bearish path of least resistance
Looking ahead, highlights include US Dallas Fed Manufacturing, & supply from the US. Fed’s Barr. ECB’s Nagel & Holzmann

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1. Subscribe to the free premarket movers reports

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EUROPEAN TRADE

EQUITIES

European bourses are in the green, Euro Stoxx 50 +0.6%, as the region derives impetus from APAC strength in holiday-thinned trade on a UK Bank Holiday.
Sectors post similar performance and feature outperformance in Tech names after SCMP reports Chinese demand for ASML’s lithography machines has already eclipsed the 2023 projection. Real Estate names lag after reports that Germany is to vote on a proposal to lower rent increase limits.
Stateside, futures are incrementally firmer, ES +0.2%, taking cues from the above narrative with fundamentals light otherwise. The US session features commentary from Fed’s Barr.
Click here for more detail.
Click here and here for a recap of the main European equity updates.

FX

DXY dips below 104.000 and further from Friday’s 104.440 best, but the Buck retains a firm underlying bid.
Euro regroups after losing 200 DMA, but is capped by decent option expiry interest extending from 1.0795 to 1.0900.
Yen hovers near circa 146.63 lows as BoJ Governor Ueda underlines reasons to remain ultra-accommodative.
Aussie fades amidst hefty option expiries vs. Greenback just above 0.6400 after a brief boost from better-than-expected retail sales data and Yuan rebound.
Sterling sags in UK holiday-thinned trade and irrespective of BoE’s Broadbent saying rates may have to stay restrictive for some time.
Cable unable to hold above 1.2600
PBoC sets USD/CNY mid-point at 7.1856 vs exp. 7.2854 (prev. 7.1883)
Click here for more detail.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

Bonds back to bearish path of least resistance and pick-up in trading volumes infers more conviction on the sell-side.
Bunds have moved convincingly below Friday’s low at 86, now at the trough of 132.33-131.72 parameters.
T-note a tad more resilient within 109-19/10 range ahead of Dallas Fed manufacturing survey, 2- and 5-year auctions.
Click here for more detail.

COMMODITIES

Crude benchmarks are a touch firmer with the broader macro narrative deriving impetus from Chinese stimulus, though brief pressure was seen as the USD printed a fresh intra-day peak; currently, WTI & Brent Oct’23 are holding around USD 80.00/bbl and USD 84.50/bbl respectively, within relatively narrow sub-1/bbl parameters
Gas is in the green though only modestly so as the Offshore Alliance now has the mandate from workers for potential strike action, but is yet to give notice for protected industrial action.
An oil leak has been found in a transmission pipeline linking Kharg Island to Iran’s Genaveh port, according to Tasnim. The magnitude of the spill was not specified, according to Reuters.
Chevron (CVX) Australia LNG workers at Wheatstone offshore have voted to authorise the union to call strike action if needed; the Offshore Alliance says protected industrial action notices against Chevron (CVX) will be filed shortly.
NHC says Tropical Storm Idalia about 125 miles south of the western tip of Cuba has maximum sustained winds of 65mph; expected to become a hurricane today.
Spot gold is unchanged at the midpoint of USD 1913-1917/oz bounds and similarly to the USD is struggling for clear and lasting direction, base metals are firmer given Chinese stimulus.
Click here for more detail.

NOTABLE US HEADLINES

US President Biden to deliver remarks on lowering healthcare cost on Aug 29th, according to Bloomberg.

NOTABLE EUROPEAN HEADLINES

The UK Metropolitan Police is on high alert following a significant security breach that led to officers’ and staff’s details being hacked. All 47k personnel have been notified about the potential exposure of their photo, names, and ranks, according to Sky News.
Germany’s ruling Social Democratic Party will vote on a proposal to lower limits on rent increases in a bid to tackle inflation. The proposal calls for a three-year residential rent cap of 6%, according to Bild citing a draft resolution.
EU Council President Michel says the EU must be prepared to accept new member states by 2030, via FT citing written remarks.
ECB’s Holzmann (Hawk) sees case for rate hike if no surprises turn up; says should start debate on ending PEPP reinvestments, according to Bloomberg; behind the curve, can start assessing policy when at 4.0%.
Fitch affirms the Czech Republic at “AA-“; outlook Negative.

NOTABLE EUROPEAN DATA

EU Money-M3 Annual Growth (Jul 2023) -0.4% vs Exp. 0.0% (Prev. 0.6%)
EU Loans to Non-Financials (Jul 2023) 2.2% (Prev. 3.0%); Households (Jul 2023) 1.3% (Prev. 1.7%)

GEOPOLITICS

Russia’s Investigation Committee confirmed Wagner leader Prigozhin was among those who died in the plane crash, according to Reuters.
Russian SU-30 plane escorted a US drone Reaper over the Black Sea, according to Ria.
Russian Foreign Minister Lavrov and the Turkish Foreign Minister are to hold discussions in Moscow, Russia soon, via Tass.
US Trade Secretary Tai reportedly raised concerns with India over its new order mandating licenses for the import of some tech products such as personal computers, laptops, and tablets, according to a statement cited by Reuters.
Three US marines have died and five have been seriously injured after a helicopter crashed during a military exercise in Australia, according to Sky News.
China will hold the third China-Africa peace and security forum between August 28th and September 2nd, according to the Chinese Defence Ministry cited by Reuters.
The Taiwan Defence Ministry said 6 Chinese aircraft crossed the Taiwan Strait median line in the past 24 hours.
Chinese Commerce Minister met with US counterpart Raimondo on Monday; Raimondo said the US wants healthy competition with Beijing, does not intend to hinder Chinese progress, and sees many areas they can work with China, according to Bloomberg.

CRYPTO

Bitcoin is softer after coming under some modest pressure towards the start of the European session, At the time catalysts were light though the move did occur as the USD attempted to lift off lows. As it stands, BTC holds below the USD 26k mark.

APAC TRADE

APAC stocks kicked off the week in the green, following a similar lead from Wall Street, whilst the focus overnight was on Chinese stocks after Friday’s support measures announced by authorities.
ASX 200 was supported by the energy and gold sectors whilst the broader mining sector was subdued by Fortescue Metals Group, which missed on net expectations and reported an impairment charge.
Nikkei 225 was also supported by its energy sector, with the index eventually surging above the 32k mark seeing some early resistance around the level.
Hang Seng and Shanghai Comp were boosted at the open with the Mainland posting gains north of 3% as markets reacted to Friday’s measures to boost investor confidence. In Hong Kong, China Evergrande slumped 80% after resuming trade following a 17-month hiatus.

NOTABLE ASIA-PAC HEADLINES

China’s Finance Ministry said China will cut stamp duty on stock trading by half from August 28th, according to Reuters.
The Chinese Securities Regulator said China will slow the pace of IPOs and further regulate share reductions. The regulator added that exchanges will also lower margin requirements, according to Reuters.
China today suspended some quantitative T+0 algorithmic trading via brokers amid concerns that T+0 may encounter one-sided market conditions and lead to risk exposure, STCN media reported
China Evergrande (3333 HK) H1 2023 (CNY): Net -33bln (prev. -64.2bln YY). Revenue 128.2bln (prev. 89.3bln). Co. said its ability to continue will depend on a successful implementation of an offshore debt restructuring plan, and successful negotiations with the rest of the lenders on repayment extensions, according to Reuters.
China has asked some funds to refrain from net equity sales in order to boost the market, according to Bloomberg News.
PBoC injected CNY 332bln via 7-day reverse repos with the rate at 1.80% for a CNY 298bln net injection, according to Reuters.
Foxconn (2317 TT) founder Terry Gou is to run for the Taiwanese presidency, according to Reuters.
New Zealand said it is to trim budget allowances and measures amid a deterioration in the global economy and particularly in China, according to Reuters.
BoJ Governor Ueda said underlying inflation is still below 2%, which is a reason to stick to the current monetary policy approach. He added that domestic demand is still on a healthy trend, although this needs to be confirmed by Q3 data, according to Reuters. He added that for Japan, the US strength is offsetting some of China’s weakness, and the weakness in China appears to be centred on the property market.
Japan raises view on exports in August for the first time in 3 months says the trend is “picking up recently”; Overall view on economy, saying it is “recovering moderately”.

DATA RECAP

Chinese Industrial Profits (Jul) YY -6.7% (Prev. -8.3%); YTD (Jul) -15.5% (Prev. -16.8%)
Australian Retail Sales MM Final (Jul 2023) 0.5% vs. Exp. 0.3% (Prev. -0.8%)

2 c. ASIAN AFFAIRS

MONDAY MORNING/SUNDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

////SOUTH KOREA/NORTH KOREA/

END

2e) JAPAN

JAPAN

3 CHINA /

CHINA/

Foreign selling accelerates as China’s latest stimulus drive falters

(zerohedge)

Foreign-Selling Accelerated Into China’s Latest Stimulus-Driven Stock Spike

MONDAY, AUG 28, 2023 – 09:30 AM

Forgive us if you’ve heard this one before… but China tried (and failed again) to re-ignte animal spirits in its equity market overnight.

Having strong-armed funds into ‘not selling’ stock last week, then strongly-suggesting that companies escalate their share buyback programs (and then bullying banks into buying yuan to support the currency against the green back), and then clearly stepping with a ‘National Team’ panic bid (that didn’t work) Beijing was faced with the reality that nothing was working with Chinese stocks tumbling still.

Then on Friday, announced property stimulus measures prompted a notably brief pump (and dump) making the 4th attempt in a week to stop the freefall in the struggling nation’s stock market.

So, having achieved nothing, Beijing tried once more with authorities announcing a slew of measures over the weekend, including a slashing of the stamp duty on stock trading and limits on the amount that major shareholders can sell.

It seemed to work as the CSI 300 Index exploded over 5% higher at the open, its largest rise at the open since July 2015.

BUT…just as we warned…

The initial euphoria faded into the session, with the index ending just a little over 1% higher.

Most notably, it was foreign funds that reportedly accelerated their selling through the day, poised to take this month’s outflows to the biggest on record.

Which in turn sent the yuan lower against the greenback…

As Bloomberg notes, today’s reversal in stocks is extremely rare, looking at historical data since 2002.

The only other time something similar occurred was on November 27, 2008, immediately after the gauge had formed a major trough following the Great Financial Crisis.

For context on how poor the price-action was, the ChiNext Index saw its largest intraday drawdown in more than two years, and the biggest ever pullback seen on an overall up-day.

This chart measures the percentage change from intraday highs to closing prices:

Cutting stamp duty is designed to increase market turnover, especially among retail punters.

“The China authorities are clearly stepping up efforts to rebuild confidence in Beijing’s policy commitment to achieve growth and support the market,” said Xiaojia Zhi, chief China economist at Credit Agricole.

“But then a fundamental growth improvement as well as tangible policy action onshore is needed to really turn the mood around, and therefore more time could be needed.”

Convincing the retail crowd to believe in the recent slew of China stimulus measures will make a big difference to daily volumes.

Having seen those measures fail, Beijing tried again, rolling out China’s Minister of Finance who pledged to prevent and resolve local government debt risks and step up fiscal discipline.

The official Xinhua news agency reported that the MoF said it will ramp up and implement active fiscal policies, and improve the transfer of payments to localities.

Additionally, China will enhance adjustments of macro policies to expand domestic demand, the National Development and Reform Commission said in a separate report to the National People’s Congress Standing Committee.

So, if at first (or fifth) you don’t succeed, try, try, again?

END

After a 17 month suspension bankrupt Evergrande crashes in price to .35 HK dollars (4,3 cents USA)

(zerohedge)

Bankrupt Evergrande Crashes As Much As 87% After Resuming Trading Following 17 Month Halt

MONDAY, AUG 28, 2023 – 12:05 PM

Shares of bankrupt (former) Chinese property giant, Evergrande Group, crashed 79% on Monday, their first trading day following a suspension of more than 17 months. The stock of the embattled real estate developer – which trade in Hong Kong under what was supposed to be the “lucky” ticker 3333 – opened 87% lower and ended the day at 0.35 Hong Kong dollars. Trading had been halted since March 21, 2022, when shares were priced at HK$1.65. Evergrande was the most traded stock in Hong Kong on Monday, with about 1.85 billion shares changing hands.

Evergrande said that a meeting with creditors to discuss offshore debt restructuring has been pushed back from Monday to Sept. 26 citing various reasons for the delay, including “numerous media reports which have wholly mischaracterized the restructuring recognition under Chapter 15” of the U.S. bankruptcy code.

As reported previously, the company filed for bankruptcy protection in a New York court on Aug. 17, a technicality since the company had defaulted on its debt almost two years earlier. The company’s bonds remain frozen and do not trade in the secondary market.

Evergrande was once China’s largest real estate developer but defaulted on a number of debt obligations, leaving homeowners with unfinished homes and suppliers with unpaid bills. As Nikkei reports, the company applied for the trading suspension to be lifted on Friday evening after it said it had cleared various conditions set by the Hong Kong Exchange, including the release of financial reports.

The results for the first six months of the year were announced Sunday night, with the company reporting a net loss of 33.01 billion yuan ($4.53 billion), better than the 66.35 billion yuan loss a year ago, but still catastrophic. Then again since Evergrande is bankrupt and insolvent, it hardly matters.

The distressed developer posted long-overdue annual earnings reports for the last two years on Aug. 16, revealing a combined net loss of a record 581.94 billion yuan, a reversal from 8.07 billion yuan in net profit in 2020 prior to a crackdown by Beijing on the industry.

The company said in its Sunday night filing that its financial status is still precarious. Its total cash and cash equivalents, including restricted cash, was 13.38 billion yuan as of the end of June, while net current liabilities were 713.10 billion yuan. The company also said that “it is involved in various litigation and arbitration cases for various reasons.”

Its electric vehicle unit China Evergrande New Energy Vehicle Group on Friday night separately announced a net loss of 6.86 billion yuan for the first six months of the year, compared to a net loss of 13.36 billion yuan a year ago. Similar to its parent, the EV subsidiary’s financial position remains strained, as its cash and cash equivalents including restricted cash came to 117 million yuan as of the end of June, while its net current liabilities stood at 36.61 billion yuan.

The company also revealed that it has 9.34 billion yuan of unpaid debt and 3.59 billion yuan of overdue commercial bills, and has 48 pending litigation cases involving 10.88 billion yuan.

As part of the financial restructuring, China Evergrande Group has proposed selling part of the EV unit to NWTN (Zhejiang) Automobile, a Nasdaq-listed, Dubai-headquartered mobility product company founded by Chinese entrepreneur Alan Nan Wu.

NWTN is willing to acquire 27.5% of the enlarged share capital of Evergrande’s EV unit for HK$3.88 billion to “support [the] business recovery and growth” of Evergrande Group. The new shares will be issued at HK$0.6297 apiece, representing a 63% discount to the stock price when the agreement was signed on Aug. 14.

Evergrande Group and its major shareholders, including founder Xu Jiayin, also known as Hui Ka-yan, have also agreed to convert their loans into a total of 5.44 billion new shares, at a price of HK$3.84 a piece. The Hong Kong-listed shares of the EV unit closed at HK$1.22 on Monday.

end

4.EUROPEAN AFFAIRS//UK /SCANDAVIAN AFFAIRS

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE//

Robert H:

Tucker’s New Episode on the Horrors in Ukraine – Partial Transcript Added

Inbox

Search for all messages with label Inbox

Such a waste of humanity that has no end in America’s misguided quest for enhanced hegemony. Without a doubt, unless observed realism is accepted, real realism will come by the fist of war and America and Europe will be losers. It is mathematically impossible for the NATO bunch to stand up to the might of a combined Russia/China alliance; let alone either one by itself.

If the rebuilding of America doe not take place soon, America will be lost to the world as a superpower within a decade. And that would be lost to all things Western as the current western world will undergo a a remake unlike anything ever seen before.
As for Ukraine it is already gone and at best will be a future shadow of what it was.

https://www.independentsentinel.com/tuckers-new-episode-on-the-horrors-in-ukraine/

end

UKRAINE/USA/RUSSIA

Watch: Romney Calls Bottomless Ukraine Aid “The Best National Defense Spending We’ve Ever Done”

MONDAY, AUG 28, 2023 – 10:40 AM

Authored by Steve Watson via Summit News,

Republican Senator Mitt Romney gave a big shout out to the Biden Administration Friday, posting a video in which he claims that sending billions in taxpayer dollars to Ukraine is “the best national defense spending I think we’ve ever done.”

While the economy at home is dismal, Romney claimed that a “very small amount” of money that the U.S. is sending to Ukraine, more than $200 billion and counting, is benefitting all Americans.

https://www.zerohedge.com/political/watch-romney-calls-bottomless-ukraine-aid-best-national-defense-spending-weve-ever-done

“The single most important thing we can do to strengthen ourselves relative to China is to see Russia defeated in Ukraine. Because they are allies, and Russia being weakened weakens their ally, China,” Romney said.

“Being able to take an amount which equals what about 5 percent of our military budget, but actually less than 5 percent of our military budget each year to help the Ukrainians, is about about the best national defense spending I think we’ve ever done,” Romney claimed.

He added “We’re losing no lives in Ukraine,” while not mentioning the hundreds of thousands of dead Ukrainians.

He continued, “the Ukrainians are fighting heroically against Russia that has 1,5000 nuclear weapons aimed at us. It’s like, so, we’re diminishing and devastating the Russian military for a very small amount of money relative to what we spend on the rest of defense.”

“It is very much in America’s national interest in our national interest to help Ukraine. And the best thing we can do for America is to see people who have nuclear weapons and that is getting weaker,” Romney concluded.

Residents of the devastated Lahaina inMaui sure don’t think that sending money to Ukraine is the best form of national defense spending:

https://www.zerohedge.com/political/watch-romney-calls-bottomless-ukraine-aid-best-national-defense-spending-weve-ever-done

6.GLOBAL ISSUES//MEDICAL ISSUES

GLOBAL ISSUES//BRICS MEETING

END

GLOBAL ISSUES:

a MUST READ!!

(Dr Lacalle)

Will The BRICS Dethrone The US Dollar?

MONDAY, AUG 28, 2023 – 06:30 AM

Authored by Daniel Lacalle via dlacalle.com,

Are the BRICS a threat to the U.S.?

The summit of the so-called BRICS (Brazil, Russia, India, China, and South Africa) has closed with an invitation to join the group extended to the Emirates, Egypt, Iran, Saudi Arabia, Argentina, and Ethiopia.

The summit has generated a lot of headlines about the impact of this widespread group of nations, including speculation about the end of the U.S. dollar as a global reserve currency if this group is perceived as a threat to the United States or even the International Monetary Fund.

Several things need to be clarified.

Many political analysts believe that China lends, invests, or supports in return for nothing. China is a major economic power, but it has no interest in being a global reserve currency. Its currency is currently used in only 5% of global transactions, according to the Bank of International Settlements.

China and Russia have capital controls. It is impossible to have a global reserve currency without freedom of capital movement. More requirements are needed than solid gold reserves to have a stable fiat currency. It is essential to guarantee economic freedom, investment, legal security, and the free movement of capital, as well as an open, transparent, and diversified financial system.

China and Russia are much more demanding and rigorous lenders than many politicians think. It seems that some emerging market politicians think that joining China and Russia will be a kind of free money panacea.

Another problem with creating a BRICS currency is that, logically, neither China nor Russia has the slightest intention of losing their national currency to dilute it alongside a group of issuers who have a doubtful track record in controlling their monetary imbalances. Over the past ten years, the currencies of the BRICS guest countries have depreciated significantly against the U.S. dollar. The Argentine peso has fallen by 98%, the Egyptian pound by 78%, the Indian rupee by 35%, the Ethiopian birr by 68%, the Brazilian real by 55%, according to Bloomberg, and the Iranian rial has collapsed by 90%, according to The Economist. Putting together weak currencies does not create a strong currency.

We must not forget that the performance of the Russian ruble (-68% against the U.S. dollar, according to Bloomberg) in the last decade has also been poor despite having a relatively prudent central bank.

The best “BRICS and guests” currency against the U.S. dollar in the last 10 years is the Chinese yuan, with a depreciation of only 14%.

For a fiat currency to be stable, it is necessary that the issuer defend it as a reserve of value, a generally accepted payment method, and a unit of measure. Freedom of capital and independent institutions that provide legal security to domestic and international investors are needed. Having a strong military power does not guarantee a currency accepted as a reserve of value, as demonstrated by the disastrous Soviet kopek, despite the USSR’s influence on half the world.

Moreover, China has no interest in taking on all the challenges required to be a global reserve currency, starting with a financial and monetary system with a high level of independence from political power. Many analysts ignore that what has made the Federal Reserve a success as the world’s central bank is that it is not under total state control or public management. The Fed may not be completely independent, but it is as independent as a central bank for a fiat currency can be.

Joining countries with governments that advocate monetizing uncontrolled public spending and massively increasing monetary imbalances cannot create a stable currency unless they implement the example of the euro. In the euro, Germany, the country with the most prudent and responsible fiscal policy, dictated the main lines of the monetary and fiscal rules for the rest. Unfortunately, the eurozone and the ECB, in trying to play to be the US and the Federal Reserve, have lost most of their options to be a real alternative to the U.S. dollar. And the euro is the greatest fiat monetary success in the post-Bretton Woods era; let us not deprive it of its merit.

The BRICS alternative starts with a major Achilles heel. China and Russia are going to have major difficulties imposing fiscal and monetary policy restrictions on their partners. Let us not forget that several of these partners have joined the group, thinking that from now on they will be able to continue printing money and spending without control, but their monetary imbalances will be distributed to other nations.

The euro has been a success because liberal democracies with independent institutions and broad economic freedom and legal certainty agreed to align their policies for the common good, creating a solid currency that avoided the debacle created by the inflationary spirals that were the norm in Europe historically when governments devoted themselves to transferring their imbalances to citizens’ wages and savings through monetary destruction. This does not seem easily replicable with BRICS and guests.

China, however, can increase its control over all these countries by implementing rigorous monetary and fiscal policies. It is the strongest lender of all the BRICS, but it is unlikely to take on the role of the euro’s Germany, willing to absorb the excesses of others in exchange for a common project. China is going to increase its control over the countries in the group, but it is not likely to jeopardize the stability and security of its enormous population by sinking the currency. The Chinese government is probably analyzing how the euro is losing monetary prudence and reaching the conclusion that it cannot take that same risk with some of these new partners. However, China will probably make the most of its financial strength to lend, increase their domestic and international growth options, and access abundant and cheap commodities.

China is the big winner of the BRICS summit. The Chinese government probably knows that many of its partners are going to continue increasing their imbalances, and this may allow China to strengthen its leadership position. However, I find it hard to believe that China will agree to the creation of a currency that others can use to trigger inflationary imbalances.

Meanwhile, in the U.S., the government may jeopardize the credibility of the U.S. dollar if it continues to generate deficits of two trillion dollars a year, more than a $14 billion estimated deficit by 2030, and with an increasing number of irresponsible advisers saying that it can create all the money it wants without risk. The fiscal credibility, institutional independence, and economic freedom of the U.S. dollar, the most widely used currency in the world, cement its leadership. If the government undermines these strengths, the dollar will lose its reserve status.

The end of the U.S. dollar, if it comes, will not arrive through competition from another fiat currency, as the temptation of governments to destroy the purchasing power of the issued currency is too strong. It will probably come from independent currencies.

END

GLOBAL ISSUES: PEPE ESCOBAR ON THE BRICS MEETING

Pepe Escobar: BRICS 11 – Strategic Tour de Force

Yesterday

BRICS Summit 2023 - Sputnik International, 1920, 25.08.2023

Pepe Escobar

All materials

Chinese President Xi Jinping defined all the major decisions embedded in the 15th BRICS summit in South Africa as “historic”. That may be seen as an understatement.

It will take time for the Global South, or Global Majority, or “Global Globe” (copyright President Lukashenko), not to mention the stunned collective West, to fully grasp the enormity of the new strategic stakes.

President Putin, for his part, described the negotiations on BRICS expansion as quite difficult. By now a relatively accurate picture is emerging of what really went down on that table in Johannesburg.

India wanted 3 new members. China wanted as many as 10. A compromise was finally reached, with 6 members: Egypt, Iran, Saudi Arabia, United Arab Emirates (UAE), Argentina and Ethiopia.

So from now on it’s BRICS 11. And that’s just the beginning. Starting with the rotating Russian presidency of BRICS on January 1, 2024, more partners will be progressively included, and most certainly a new round of full members will be announced at the BRICS 11 summit in Kazan in October next year.

So we may soon progress to BRICS 20 – on the way to BRICS 40. The G7, for all practical purposes, is sliding towards oblivion.

Bur first things first. At that fateful table in Johannesburg, Russia supported Egypt. China went all out for Persian Gulf magic: Iran, UAE and the Saudis. Of course: Iran-China are already deep into a strategic partnership, and Riyadh is already accepting payment for energy in yuan.

Brazil and China supported Argentina, Brazil’s troubled neighbor, running the risk of having its economy fully dollarized, and also a key commodity provider to Beijing. South Africa supported Ethiopia. India, for a series of very complex reasons, was not exactly comfortable with 3 Arab/Muslim members (Saudi Arabia, UAE, Egypt). Russia assuaged New Delhi’s fears.

All of the above respects geographic principles and imprints the notion of BRICS representing the Global South. But it goes way beyond that, blending cunning strategy and no-nonsense realpolitik.

India was mollified because Russian Foreign Minister Sergey Lavrov, at the table in Johannesburg negotiating on behalf of President Putin, and highly respected by New Delhi, fully understood that a new, single BRICS currency is a long way away. What really matters, short and medium term, is expanding intra-BRICS trade in their national currencies.

That was stressed by New Development Bank (NDB) president Dilma Rousseff in her report to the South African summit hosts – even as Brazilian President Lula once again emphasized the importance of setting up a work group to discuss a BRICS currency.

World

BRICS Expansion to Enable Increase in Mutual Investments – Russian Investment Fund

24 August, 10:57 GMT

Lavrov understood how New Delhi is absolutely terrified of secondary sanctions by the US, in case its BRICS role gets too ambitious. Prime Minister Modi is essentially hedging between BRICS and the completely artificial imperial obsession embedded in the terminology “Indo-Pacific” – which masks renewed containment of China. The Straussian neo-con psychos in charge of US foreign policy are already furious with India buying loads of discounted Russian oil.

New Delhi’s support for a new BRICS currency would be interpreted in Washington as all-out trade war – and sanctions dementia would follow. In contrast, Saudi Arabia’s MbS doesn’t care: he’s a top energy producer, not consumer like India, and one of his priorities is to fully court his top energy client, Beijing, and pave the way for the petroyuan.

It Takes Just a Single Strategic Move

Now let’s get into the strategic stakes. For all practical purposes, in Eurasian terms, BRICS 11 is now on the way to lord over the Arctic Sea Route; the International North South Transportation Corridor (INSTC); BRI’s East West Corridors; the Persian Gulf; the Red Sea; and the Suez Canal.

That blends several overland corridors with several nodes of the Maritime Silk Roads. Nearly total integration in the Heartland and the Rimland. All with just a single strategic move in the geopolitical/geoeconomic chessboard.

Economy

Russia Could Use Iran as Part of North-South Corridor to Export Grain

13 July, 07:23 GMT

Much more than an increase of BRICS 11 collective GDP to 36% of the world’s total (already larger than the G7), with the group now encompassing 47% of the world’s population, the top geopolitical and geoeconomic breakthrough is how BRICS 11 is about to literally break the bank on the energy and commodities market fronts.

By incorporating Iran, Saudi Arabia and the UAE, BRICS 11 instantly shines on as an oil and gas powerhouse. BRICS 11 now controls 39% of global oil exports; 45.9% of proven reserves; and at least 47.6% of all oil produced globally, according to InfoTEK.

With BRICS 11 possibly including Venezuela, Algeria and Kazakhstan as new members as early as in 2024, it may control as much as 90% of all oil and gas traded globally.

Inevitable corollary: operations settled in local currencies bypassing the US dollar. And inevitable conclusion: petrodollar in a coma. The Empire of Chaos and Plunder will lose its free lunch menu: control of global oil prices and means to enforce “diplomacy” via a tsunami of unilateral sanctions.

Already in the horizon, direct BRICS 11-OPEC+ symbiosis is inevitable. OPEC+ is effectively run by Russia and Saudi Arabia.

A ground-shaking geoeconomic reorientation is at hand, involving everything from routes plied by global supply chains and new BRICS roads to the progressive interconnection of BRI, the Saudi Vision 2030 and massive port expansion in the UAE.

World

How BRICS Summit 2023 Spelled End to Western-Centric World Order

Yesterday

By choosing Ethiopia, BRICS expands its African reach on mining, minerals and metals. Ethiopia is rich in gold, platinum, tantalum, copper, niobium and offers vast potential in oil and natural gas exploration. Saudi Arabia and the UAE, incidentally, are also involved in mining.

This all spells out fast, progressive integration of North Africa and West Asia.

How Diplomacy Goes a Long Way

The BRICS 11 Shock of the New, in the energy sphere, is a sharp historical counterpoint to the 1973 oil shock, after which Riyadh started wallowing in petrodollars. Now Saudi Arabia under MbS is operating a tectonic shift, in the process of becoming strategically aligned with Russia-China-India-Iran.

Diplomatic coup does not even begin to describe it. This is the second stage of the Russian-initiated and Chinese-finalized rapprochement between Riyadh and Tehran, recently sealed in Beijing. The Russia-China strategic leadership, working patiently in synch, never lost sight of the ball.

Now compare it with collective West’s “strategies”, such as the G7-imposed oil price cap. Essentially the G7 “coalition of the willing” self-imposed a price cap on Russian crude imported by sea. The result is that they had to start buying way more oil products from Global South nations which ignored the price cap and duly increased their purchase of Russian crude.

Guess who are the top two: BRICS members China and India.

After wallowing in several stages of denial, the collective West may – or may not – realize it’s a fool’s dream to attempt to “de-couple” the West-ruled part of the global economy from China, whatever is spewed out by Washington.

BRICS 11 now shows, graphically, how the “Global South/Global Majority/”Global Globe” is more non-aligned with the West than anytime in recent history.

By the way, the president of the G77, Cuban leader Diaz-Canel, was at the BRICS summit representing the de-facto new Non-Aligned Movement (NAM): the G77 actually incorporates no less than 134 nations. Most are African. Xi Jinping in Johannesburg met in person with the leaders of most of them.

The collective West, in panic, regards all of the above as “dangerous”. So the last refuge is, predictably, rhetorical: “de-coupling”, “de-risking”, and similar idiocies.

Yet that may also get practically dangerous. As in the first ever trilateral summit in Camp David on August 18 between the Empire and two Asian vassals, Japan and South Korea. That may be interpreted as the first move towards a military-political Asian NATO even more toxic than Quad or AUKUS, obsessed to simultaneously contain China, Russia and the DPRK.

The Collective Outstripping of the Global North

The UN lists 152 nations in the world as “developing countries”. BRICS 11 is aiming at them – as they outstrip the Global North on everything from population growth to overall contribution to global GDP growth measured by PPP.

In the past 10 years since the announcement of BRI first in Astana and then in Jakarta, Chinese financial institutions have lent nearly $1 trillion for infrastructure connectivity projects across the Global South. The upcoming BRI forum in Beijing will signal a renewed drive. That’s the BRI-BRICS symbiosis.

In the G20 last year, China was the first nation to lobby for the inclusion of the 55-member African Union (AU). That may happen at the G20 summit next month in New Delhi; in that case, Global South representation will be close to parity with the Global North.

Claims that Beijing was organizing a malign conspiracy to turn BRICS into a weapon against the G7 are infantile. Realpolitik – and geoeconomic indicators – are dictating the terms, configuring the Shock of the New: the G7’s irreversible irrelevance with the rise of BRICS 11.

end

GLOBAL VACCINE/COVID ISSUES

DR PAUL ALEXANDER

‘Nearly 2 million excess deaths after China ended ‘zero-Covid’: study (Xiao et al.); why? IMO, ZERO-COVID lockdown damages a population whereby the population i)is deprived of gaining natural exposure

immunity harmlessly ii)delays inevitable iii) no background immunity when society opens up so very vulnerable if variant is infectious iii)destroys economy iv)society acts as a ‘susceptible’ sponge

DR. PAUL ALEXANDERAUG 26

READ IN APP

‘the sudden lifting of zero COVID policy was associated with significant increases in all-cause mortality.’

Of course this will happen!

This was expected, given no background immunity as was locked down tight, and you had an infectious variant omicron circulating so of course everyone will get infected and the elderly will be vulnerable.

You also place the variant under pressure, natural selection pressure and thus it evolves in response and we underestimated the evolutionary capacity of the virus to evolve.

All China needs to do is to protect its high-risk vulnerable persons, use Vit D3, use nasal-oral rinces, proper ventilation, early anti-viral, corticosteroid, anti-clotting treatment as needed, stay home is unwell and take no COVID vaccine, NONE!

‘Researchers estimate there were 1.87 million excess deaths from all causes among people 30 years and older from December 2022 to January, according to the study from the Fred Hutchinson Cancer Center in Seattle published Thursday. The deaths, which were observed across all mainland Chinese provinces, except Tibet, were predominantly among older people.

China’s strict zero-Covid policies, which included mass testing, border closures and extended citywide lockdowns, kept Covid cases and deaths to a minimum for much of the pandemic. But when the government abruptly lifted the restrictions in December after rare mass protests across the country, the virus was unleashed on 1.4 billion people who had barely been exposed to it.

The resulting wave of cases, driven by the highly transmissible omicron variant, brought a huge increase in hospitalizations and deaths that experts say were underreported by officials. They pointed to anecdotal evidence, as well as satellite imagery showing heightened activity at crematoriums and funeral homes.’

https://news.yahoo.com/nearly-2-million-excess-deaths-132651014.html

END

NFL? What is happening in pre-season? Are NFL players now more vulnerable? Why? NFL preseason Dolphins rookie Daewood Davis exits in stretcher, game vs. Jaguars suspended; did the mRNA technology gene

based COVID Pfizer and Moderna vaccine leave NFL players susceptible to more injuring when hit? Are these players weaker, cardiac system unable to sustain any crisis to hit? I am no expert!

DR. PAUL ALEXANDERAUG 27

READ IN APP

Miami Dolphins wide receiver Daewood Davis is carted off the field during the second half of an NFL preseason football game against the Jacksonville Jaguars, Saturday, Aug. 26, 2023, in Jacksonville, Fla. (AP Photo/Gary McCullough)

‘For the second time in seven days, an NFL preseason game was suspended due to a player injury.

On Saturday, it was a game between the Miami Dolphins and Jacksonville Jaguars that got called in the fourth quarter. Dolphins rookie wide receiver Daewood Davis sustained the injury on a catch attempt with 8:32 remaining in the fourth quarters. You can see the play here.

Davis was removed from the game on a stretcher, with members of both teams surrounding him while trainers attended to him.’

END

‘5,000 pilots suspected of hiding major health issues. Most are still flying.’ (The Washington Post, Rein, Whitlock); you worry about this 5,000 when we have thousands with ‘silent myocarditis’?

FAA, airline industry, pilots etc. are playing with fire! They know that mRNA technology based COVID gene injection (Pfizer, Moderna, Bourla, Weissman etc.) has damaged pilot hearts! Planes will CRASH

DR. PAUL ALEXANDERAUG 27

READ IN APP

https://www.msn.com/en-us/health/other/5000-pilots-suspected-of-hiding-major-health-issues-most-are-still-flying/ar-AA1fPJX8

‘Federal authorities have been investigating nearly 5,000 pilots suspected of falsifying their medical records to conceal that they were receiving benefits for mental health disorders and other serious conditions that could make them unfit to fly, documents and interviews show.

The pilots under scrutiny are military veterans who told the Federal Aviation Administration that they are healthy enough to fly, yet failed to report — as required by law — that they were also collecting veterans benefits for disabilities that could bar them from the cockpit.’

We have pilots flying with damaged heart muscle due to the mRNA technology COVID injections (input courtesy of Malone, Kariko, Sahin, Weissman, Bancel, Fauci, Francis Collins, Bourla etc.) that is manifesting in cardiac arrest on taxi, on landing, in flight. Planes will fall from the sky. It is a matter now of ‘when’. Pilots must not enter the cockpit until myocarditis etc. is ruled out or any heart damage, limitation or any from a post COVID vaccine (s). D-Dimers, Troponin test, EKGs, chest MRIs (gado contrast) etc. must be engaged.

END

Japan: why is the excess mortality, all cause mortality rising in Japan? Does it have to do with Japan being so highly vaccinated? Has the Japanese government damaged its population severely with

mRNA technology vaccine? What do you think?

DR. PAUL ALEXANDERAUG 26

READ IN APP

END

SLAY NEWS

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New List Names Several Powerful Elites Linked to Epstein Who Were Not Mentioned in ‘Little Black Book’As the Department of Justice (DOJ) refuses to release the “client list” of Jeffrey Epstein, new names of powerful elites connected to the deceased child trafficker continue to emerge.READ MORE

Biden Sues Elon Musk’s SpaceX for ‘Discrimination’ for Hiring Too Many Americans Democrat President Joe Biden’s Department of Justice (DOJ) has just filed a lawsuit against Elon Musk’s SpaceX for hiring too many Americans and “discriminating” against refugees.READ MORE

The latest reports from Slay NewsRenowned Climate Scientists Warn Public: Green Agenda Based on ‘Hoax’Two of the world’s most renowned climate scientists have spoken out to warn the public that the green agenda being peddled by the World Economic Forum (WEF) and its globalist allies is based on a “hoax.”READ MORE Video Explains Media Blackout on Trump Driving Through Poor Neighborhood on Way to Fulton County A video has emerged online that shows President Donald Trump’s motorcade driving through a poor Georgia Neighborhood on his way to the Fulton County Jail on Thursday.READ MORE Fired Ukraine Prosecutor Blows Whistle: Joe and Hunter Biden Took Bribes Ukraine’s former Prosecutor-General Viktor Shokin has blown the whistle and accused Democrat President Joe Biden and his son Hunter of “corruption.”READ MORE Get-Trump DA Fani Willis Exposed as ‘Election Denier’ as Old Social Media Posts Surface Fulton County District Attorney Fani Willis has indicted President Donald Trump on charges related to his questioning of the 2020 election results in Georgia.READ MORE Trump’s Recorded Height and Weight at Jail Cause a Stir on Social Media: ‘Absolute Elite Athlete’President Donald Trump’s booking information from the Fulton County Jail in Georgia has been causing a stir on social media after it was made public this week.READ MORE FEMA Trains Employees on ‘White Supremacy’ as 1000 Hawaiians Are Still Missing As Hawaiians desperately search for over 1,000 of their loved ones, who are still missing after the devastating wildfires on the island of Maui, Federal Emergency Management Agency (FEMA) employees are undergoing training on “white supremacy,” according to reports.READ MORE Biden Admin Pumps $1.4 Billion into New Covid Vaccine Push Democrat President Joe Biden’s administration is pumping a staggering $1.4 billion of taxpayer money into a new Covid vaccine push.READ MORE

EVOL NEWS

JUST IN: Trump Waves To Supporters After Landing In Fulton County To Face Arrest, MugshotREAD MORE…

LATEST NEWS:

Biden Warns Covid Cases Are Rising, Vows Shots ‘That Work’ Are Coming: ‘Everybody Will Get It’READ MORE… LATEST NEWS:WHO Demands Global Vaccine Mandates to Fight ‘Climate Change’Read more…Florida shooting leaves at least 4 dead, including shooter at Jacksonville Dollar General storeRead more…Hollywood Actor John Cusack: ‘Donald Trump Is Lying Treasonous Child Abducting Rapist Sack of S**t’Read more…House Republicans Submit Bill to Defund Fulton County DA’s Office Following Trump ProsecutionRead more…At least 3 People Dead After Shooting in Jacksonville, Florida in ‘Racially Motivated Attack’Read more…Jacksonville Shooter Wrote 3 Manifestos Detailing Motivation for Killings: PoliceRead more…First U.S. State Makes Move to Keep Donald Trump Off Ballot in 2024Read more…Ilhan Omar Accused of Taking Bribes from Foreign NationalsRead more…Biden to Sign Executive Order to Ration Meat, Gas, ElectricityRead more…BREAKING: Maui County Files Major Lawsuit Over Negligence Causing Lahaina WildfiresRead more…BREAKING: Trump Mugshot Will Be Released Friday at 4 PM – Sheriff’s Office Could Make an ExceptionRead more…Maui Survivors: Authorities Blocked Road to Stop People Escaping Lahaina as Town BurnedRead more…JUST IN: Trump Addresses Reporters After Fulton County ArrestRead more…Donald Trump Returns to ‘Twitter’ with a Post That is Breaking the InternetRead more…Best President Donald Trump Makes Triumphant Return to Twitter/X with Defiant Mug Shot Picture PostRead more…Mike Pence After the GOP Presidential Debate: ‘Donald Trump Is Not Going to Be the Republican Nominee’Read more…

NEWS ADDICTS

John Kerry Declares War on 'Climate Change Deniers': A 'Dangerous Threat to Humanity'

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

end

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

Venezuela produces only 700,000 barrels per day. if sanctions are eased, they could increase production to 1.0 million barrels /day

(Kennedy/OilPrice.com )

Venezuela Could Boost Oil Output If US Sanctions Are Eased

MONDAY, AUG 28, 2023 – 12:25 PM

Authored by Charles Kennedy via OilPrice.com,

U.S. sanctions have crippled Venezuela’s crude oil production and exports.
Last year, Venezuelan crude oil production hit a 50-year low of around 700,000 barrels per day.
Analysts: If the Biden Administration further eases the sanctions and allows other Western oil companies to operate in Venezuela, the South American country could ramp up its production by around 200,000 bpd and reach about 1 million bpd in crude output by 2025.

A potential temporary relief to the U.S. sanctions against Venezuela could jumpstart the oil industry in the South American country where output has slumped to a five-decade low.

The sanctions, imposed by the Trump Administration, have crippled Venezuela’s crude oil production and exports. But the industry in the nation sitting on the world’s largest crude oil reserves – even bigger than Saudi Arabia’s – had been in a decline for years due to mismanagement, corruption, and a lack of investment in field operations and refinery maintenance by state oil firm PDVSA.

Last year, Venezuelan crude oil production hit a 50-year low of around 700,000 barrels per day (bpd).

The first opening of the Biden Administration to Venezuela occurred at the end of last year when it eased sanctions on Venezuela to allow Chevron to resume its work in Venezuela and export the crude when access to Russian heavy crude was shut off by the sanctions on Russia over its invasion of Ukraine.

In November, the U.S. government granted Chevron a license to operate in Venezuela under its joint ventures with PDVSA there. Profits from the sale of Chevron’s Venezuelan-derived crude oil go towards paying down PDVSA’s debt to Chevron and will not bolster state-run PDVSA’s profits.Related: UK Households To Pay Lower Energy Bills In Q4 2023

Venezuela’s heavy crude oil is prized by U.S. Gulf Coast refiners, who, until recently, looked to Russia’s heavy grades to replace it. Last December, it was reported that several refiners were attempting to get their hands on the rare Venezuelan crude oil.

If the Biden Administration further eases the sanctions and allows other Western oil companies to operate in Venezuela, the South American country could ramp up its production by around 200,000 bpd and reach about 1 million bpd in crude output by 2025, analysts say.

Yet, for this to happen, several conditions need to be met. First, Nicolas Maduro has to agree to hold free presidential elections. Next, the Western oil companies have to be sure that the possible temporary relief in the sanctions regime would open enough of an investment window for them to invest in reviving production at Venezuelan oilfields, many of which have been sitting idled and neglected due to PDVSA’s lack of resources to operate them and the sanctions on Venezuela’s oil exports.

There could be an opening in the U.S. Administration to allow more companies – other than Chevron – to export crude oil from Venezuela.

Federal government officials in Washington are reportedly working on a draft proposal for sanctions relief to be offered to Venezuela if it organizes “free and fair” presidential elections.

The pitch focuses on letting more companies buy Venezuelan crude, Reuters reported, citing unnamed sources.

“Should Venezuela take concrete actions toward restoring democracy, leading to free and fair elections, we are prepared to provide corresponding sanctions relief,” a spokesperson for the National Security Council said, as quoted by Reuters.

If Maduro shows willingness to hold fair and free elections – something he hasn’t been keen on doing for years – Venezuela could be able to increase its oil production. Companies including Eni and Repsol, which are still owed payments by PDVSA, could also receive relief to sell Venezuelan crude.

“Venezuela could add 200,000 barrels a day by 2025 and reach 1 million barrels per day as a result of successful negotiations and new issuing of licenses,” Francisco Monaldi, a fellow in Latin American energy policy at Rice University’s Baker Institute for Public Policy, told Bloomberg.

Chevron, the only Western firm currently allowed to do business with Venezuela, has already doubled its production in the country, to 135,000 bpd as of May this year compared to October 2022, just before the U.S. sanctions relief.

Chevron could begin drilling new wells in Venezuela next year and could further ramp up its output to 200,000 bpd by the end of 2024, a source with knowledge of the U.S. supermajor’s plans told Bloomberg.

Venezuela could see higher output in the near term – and the global oil market, more supply – but only if Maduro is open to holding a free and fair election.

END

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES

NIGER

very fluid…expect imminent invasion of Niger by neighbours

(HalTurner Radio)

Hal Turner Radio Show – WITH INVASION “IMMINENT” Niger EXPELS Ambassadors from France, Germany, USA, Nigeria, and Côte d’Ivoire

Likely the next flash point ..

https://halturnerradioshow.com/index.php/en/news-page/world/niger-expels-ambassadors-from-france-germany-usa-nigeria-and-cote-d-ivoire

END

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

EURO VS USA DOLLAR: 1.0809 UP 0.0027

USA/ YEN 146.55 UP 0.253 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2584 UP 0.0025

USA/CAN DOLLAR: 1.3599 UP .0014 (CDN DOLLAR DOWN 14 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 34.56 PTS OR 1.13%

Hang Seng CLOSED UP 174.36 PTS OR 0.97%

AUSTRALIA CLOSED UP 0.46 % // EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG UP 174.36 PTS OR 0.97%

/SHANGHAI CLOSED UP 34.56 PTS OR 1.13%

AUSTRALIA BOURSE CLOSED UP 0.46%

(Nikkei (Japan) CLOSED UP 545.71 PTS OR 1.73

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1914.80

silver:$24.20

USA dollar index early MONDAY morning: 104.04 UP 2 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing MONDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.260% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.651% UP 0 AND 4//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.591 UP 2 in basis points yield

ITALIAN 10 YR BOND YIELD 4.236 UP 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.5710 UP 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.0806 UP 0.0024 or 24 basis points

USA/Japan: 146.64 UP 0.341 OR YEN DOWN 34 basis points/

Great Britain/USA 1.2574 UP 0.0014 OR 14 BASIS POINTS //

Canadian dollar DOWN .0005 OR 5 BASIS pts to 1.3589

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.2927

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.3003)

TURKISH LIRA: 26.56 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.651…VERY DANGEROUS

Your closing 10 yr US bond yield DOWN 3 in basis points from FRIDAY at 4.214% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.271 DOWN 2 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 5.076 DOWN 2 BASIS PTS.

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

London: CLOSED UP 4.95 POINTS or 0.07%

German Dax : CLOSED UP 160.79 PTS OR 1.03%

Paris CAC CLOSED UP 95.11PTS OR 1.32%

Spain IBEX UP 151.70 PTS OR 1.62%

Italian MIB: CLOSED UP 330.11 PTS OR 1.19%

WTI Oil price 80.46 12: EST

Brent Oil: 84.84 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 95,34; ROUBLE UP 0 AND 7//100

GERMAN 10 YR BOND YIELD; +2.5710 UP 2 BASIS PTS

UK 10 YR YIELD: 4.486 UP 2 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0813 UP 0.0031 OR 31 BASIS POINTS

British Pound: 1.2608 UP .0042 or 42 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.486% UP 1 BASIS PTS//

JAPAN 10 YR YIELD: .650%

USA dollar vs Japanese Yen: 146.46 UP 0.160 //YEN DOWN 16 BASIS PTS//

USA dollar vs Canadian dollar: 1.3602 UP .0017 CDN dollar, DOWN 17 basis pts)

West Texas intermediate oil: 80.18

Brent OIL: 84.51

USA 10 yr bond yield DOWN 4 BASIS pts to 4.204%

USA 30 yr bond yield DOWN 2 BASIS PTS to 4.274%

USA 2 YR BOND: DOWN 2 PTS AT 5.039%

USA dollar index: 103.97 DOWN 5 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 26.51 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 95.31 UP 0 AND 11/100 roubles

GOLD 1920.25

SILVER: 24.22

DOW JONES INDUSTRIAL AVERAGE: UP 213.19 PTS OR 0.62%

NASDAQ 100 UP 110.63 PTS OR 0.74%

VOLATILITY INDEX: 15.09 DOWN 0.59 PTS (3.76)%

GLD: $178.14 UP 0.52 OR 0.29%

SLV/ $22.22 UP 0,00 OR 0.00%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM:

Bonds & The Buck Quiet, Stocks Squeeze Higher As Event-Risk-Heavy Week Looms

MONDAY, AUG 28, 2023 – 04:00 PM

A quiet day for macro – ahead of a week chock full of ‘event risk’ signals from PCE to ISM to NFP – was dominated early on by China’s 5th try-and-fail to ignite some momentum in its stock market…

Source Bloomberg

That, as well as the new negative gamma regime (see below) prompted a giant short-squeeze at the cash open (but note no follow-through)…

Source Bloomberg

And despite the opening mess, all the majors ended the day higher with Small Caps leading the charge…

The S&P stalled 4 times at a critical CTA level (4447)…

That late-day surge was the biggest buy-program since July 27th…

Source Bloomberg

NVDA was ugly early on but we suspect the buybacks stepped in and lifted the AI angel back to pre-earnings spike resistance…

Treasuries were mixed with the long-end underperforming. All but the 30Y yield (unch) were down today. NOTE, Treasuries were bid during the Asia session and then bid again during the early US session…

Source Bloomberg

The 2Y yield fell back to pre-Powell levels today, but remains above 5.00%…

Source Bloomberg

The dollar traded in a very narrow range all day ending unch…

Source Bloomberg

Bitcoin rallied back above $26k early but then puked back below as the equity market closed…

Source Bloomberg

Gold (spot) rallied back above $1925 today – 3 week highs…

Oil prices were also higher on the day with WTI managing to get back above $80…

Finally, as SpotGamma notes, we entered into a negative gamma regime earlier this month and remain there. The expected result of this is a relatively wider range of price action, but also daily trends that tend to continue more often in one direction without retracing.

Source: SpotGamma

The market can be more difficult to read when market gamma is negative. This is partly because the occasional faceripping rally tends to bring it right back up to its resistance points, and testing into neutral territory. However, with key levels dropping, a structural path keeps reopening itself for the market to sneak down over time.

MORNING TRADING//

end

II USA DATA

Dallas Fed reports manufacturing production hits new lows

(zerohedge)

“Our Industry Is In A Technical Recession” – Dallas Fed Manufacturing Production Hits New Lows As Prices Spike

MONDAY, AUG 28, 2023 – 01:25 PM

Texas factory activity contracted again in August, according to The Dallas Fed’s Manufacturing Survey, with the production index tumbling 6pts to -11.2. That is the lowest (ex-COVID lockdowns) since May 2016…

Source: Bloomberg

Under the hood, the picture is just as ugly with new orders contracting (for more than a year), capacity utilization down, shipments tumbling, and capex down a 3 year low.

There were two line items that surged higher – Prices Paid for Raw Materials and Wage Growth – but labor market measures suggest slower growth in employment and shorter workweeks in August; and

Source: Bloomberg

Respondents comments say a lot about ‘Bidenomics‘:

Chemical manufacturing

The chemical industry remains slow.

Computer and electronic product manufacturing

High interest rates are affecting industrial production like never before. In addition to reshoring heavy activity, supply-chain issues, lack of qualified labor and interest rates have placed an inverted incentive to grow due to a major slowdown in capital equipment expenditures. This is the time to stop raising interest rates and give confidence to the industrial segments to plan growth. Rehiring after major layoffs in this industry is not like in the consumer industry. It is costly, laborious and a long-term expedition. And with the lack of reforms in immigration and education, we are encountering major difficulties in running industrial operations. Never mind the demographics issue the U.S. is about to encounter in the short run. I think it is time for the Federal Reserve to take a creative approach when it comes to interest rate management.

For the first time in a long time, we are seeing customers reduce or cancel orders due to softening end-use demand. We expect this trend to continue over the next few months. We continue to make capital investments, focusing on buying high-quality used manufacturing equipment at a discount when other people are pulling back because of uncertainty.

Customer orders came to a sudden halt. The overall volume dropped 51 percent year over year.

Food manufacturing

We have seen a contraction in government contracts. Customer discretionary spending capability has decreased.

Machinery manufacturing

The phone is not ringing. Our sales team is working harder with less results. Projects are being postponed and, perhaps even more telling, payments are increasingly protracted.

Business is slowing down, but we are adding new products to produce. This should be positive for our business long term.

Primary metal manufacturing

Our industry is in a technical recession. In addition to that, foreign imports are at a very high percentage if not the highest in our history.

Finally, given all those comments, it is not surprising that the future general business activity index returned to negative territory after pushing positive last month, coming in at -3.3.

III) USA ECONOMIC STORIES

Hawaiian Electric Soars After Statement: Power Lines “De-Energized” When Fire Started

MONDAY, AUG 28, 2023 – 08:50 AM

Hawaiian Electric Industries Inc. surged as much as 43% in premarket trading in New York after the utility released a statement: their power lines were de-energized for more than six hours in Lahaina when the “Afternoon Fire” broke out on Aug. 8 that ultimately leveled the resort town in West Maui.

Just last week, Maui County slapped Hawaiian Electric with a lawsuit, accusing the utility of negligence that sparked the devastating wildfire that leveled Lahaina and killed more than 100 people, with hundreds still missing.

“We were surprised and disappointed that the County of Maui rushed to court even before completing its own investigation,” said Shelee Kimura, president and CEO of Hawaiian Electric.

Kimura said, “We believe the complaint is factually and legally irresponsible. It is inconsistent with the path that we believe we should pursue as a resilient community committed and accountable to each other as well as to Hawaiʻi’s future. We continue to stand ready to work to that end with our communities and others. Unfortunately, the county’s lawsuit may leave us no choice in the legal system but to show its responsibility for what happened that day.”

Shares of Hawaiian Electric surged as much as 43% in premarket trading.

But still well down from the start of the fire…

Hawaiian Electric outlines important facts about what happened on Aug. 8:

A fire at 6:30 a.m. (the “Morning Fire”) appears to have been caused by power lines that fell in high winds.
The Maui County Fire Department responded to this fire, reported it was “100% contained,” left the scene and later declared it had been “extinguished.”
At about 3 p.m., a time when all of Hawaiian Electric’s power lines in West Maui had been de-energized for more than six hours, a second fire (the “Afternoon Fire”) began in the same area.
The cause of the devastating Afternoon Fire has not been determined.

The utility provided more details about the fire:

The records conclusively establish that Hawaiian Electric power lines to Lahaina were not energized when the Afternoon Fire broke out shortly before 3 p.m. on Aug. 8, in a field near Lahaina Intermediate School. Power had been out for more than six hours by that time. There was no electricity flowing through the wires in the area or anywhere else on the West Maui coast. Hawaiian Electric has informed ATF investigators of the availability of records that demonstrate these facts.
The small Morning Fire, seen in videos taken by local residents, began more than eight hours earlier. Those videos show that power lines had fallen to the ground in high winds near the intersection of Lahainaluna Road and Hoʻokahua Street at approximately 6:30 a.m. A small fire that can be seen by the downed lines spread into the field across the street from the Intermediate School.
The Maui County Fire Department responded promptly to the Morning Fire. According to the Department’s public statement that morning, by 9 a.m. the Morning Fire was “100% contained.” The Maui County fire chief subsequently reported that the Fire Department had determined that the Morning Fire was “extinguished,” and the Fire Department left the scene by 2 p.m.
Once the fire was out, Hawaiian Electric emergency crews arrived at Lahainaluna Road in the afternoon of Aug. 8 to make repairs; they saw no fire or smoke or embers. All lines to Lahaina remained de-energized and all power in the area remained off.
Shortly before 3 p.m., while the power remained off, our crew members saw a small fire about 75 yards away from Lahainaluna Road in the field near the Intermediate School. They immediately called 911 and reported that fire.
By the time the Maui County Fire Department arrived back on the scene, it was not able to contain the Afternoon Fire and it spread out of control toward Lahaina.

“The county’s lawsuit distracts from the important work that needs to be done for the people of Lahaina and Maui,” said Scott Seu, president and CEO of Hawaiian Electric.

What distraction could that be?

Here are the following eight questions that we should all be asking about the fires in Hawaii right now…

#1 How did the fires start? Governor Green is convinced that they were caused by a confluence of factors. Do you buy his explanation?…

Echoing wildfire experts, Gov. Green said Friday that he believes a confluence of weather conditions contributed to the ignition and spread of the blazes.

“It is a product, in my estimation, of certainly global warming combined with drought, combined with a super storm, where we had a hurricane offshore several hundred miles, still generating large winds,” Green told CNN.

#2 How did the fires spread so rapidly? According to multiple news reports, people were literally jumping into the ocean to escape because the fires were moving so rapidly…

With fires raging on Maui, two men felt there was nowhere to escape the flames – except for the ocean.

The two men live in Lahaina, a historic part of Maui loved by tourists, which appears to be heavily damaged by this week’s raging fire. They described a terrifying scene as they evacuated from Prison Street, right in the heart of Lahaina.

“I saw a couple people just running, I heard screams out of hell … explosions. It felt like we were in hell, it really was. It was just indescribable,” one of the men told Nexstar’s KHON.

#3 How did a fire that was supposedly “out” end up causing the most damage of all? According to Governor Green, the Lahaina fire was supposedly given new energy “by far-off Hurricane Dora”…

After first erupting early Tuesday, the fire was initially deemed to be out, but winds whipped up by far-off Hurricane Dora that reached up to 81 mph fanned the flames and spurred the blaze to travel about 1 mile every minute, Green said.

#4 According to U.S. Representative Jill Tokuda, the alarm system that is supposed to warn residents that a disaster is happening appears to have failed. How is that possible?…

We know everybody who’s ever lived in Hawaii knows the warning sirens. It goes off once a month at the beginning of the month at 12 noon, and it blares and if it doesn’t, it gets fixed, because that is our first line of defense. Unfortunately, in this situation, sadly, tragically in this situation, those sirens likely did not go off. The warning signals that were on cell phones, we had no cell coverage or electricity in some of these areas. And the reality is with those warning signs, it tells all of us to turn on the television or look at our phones or turn on the radio. The reality is was how fast this burn was. And you could see it in the videos that survivors were showing me. You could see it in the wreckage. If you turned on your phone, you turned on a radio, if you even could. Remember things were out at that particular point, you would not know what the crisis was.

#5 Why are emergency supplies not getting to the people that desperately need them? It is being reported that a “telecommunications blackout” has been one of the factors that has been hampering relief efforts…

But an enduring telecommunications blackout hampered government and grassroots efforts to distribute those supplies in the worst-affected neighborhoods, especially for an unknown number of survivors waiting out the aftermath in the few buildings still standing in the historic town of Lahaina and neighborhoods on the outskirts.

With their vehicles burned to a crisp, some sheltering at home have no way to drive to distribution centers miles away, or their cars have run out of gas. Others simply don’t know where to go for help. Toxic fumes and downed power lines with live wires make venturing outdoors dangerous.

#6 Why are people that have just had their homes burned down in the fires already being bombarded with calls with offers to purchase their properties?

The vultures are circling, and it appears that there are some people out there that are extremely interested in scooping up land inexpensively.

#7 Why has the FBI moved a “mobile refrigerated morgue” into Lahaina?…

A mobile refrigerated morgue has been brought to the devastated town of Lahaina as Maui officials continue their search for victims of the worst U.S. wildfire in 100 years.

The death toll on Sunday rose to 96, but Hawaii officials said it was likely to rise significantly.

John Pelletier, the Maui police chief, said only three percent of Lahaina – home to more than 9,000 people – had been searched so far.

#8 Why is Joe Biden lounging on the beach while all of this is happening?…

Outraged Americans blasting President @JoeBiden after he said ‘no comment’ when asked about the catastrophic Maui wildfire, now the deadliest US blaze in over a century. Despite the death toll climbing to about 100, Americans were outraged that Biden remained sunbathing on a beach near his Delaware home.

Before the fire, locals feared billionaires would transform their town into a “Satellite City” for elites. How the elites would acquire the land remained a mystery, but now not so much.

end

USA// COVID//VACCINE/

The “election variant” is back!! As we are getting closer to the USA election expect this!

(zerohedge)

‘Election Variant’: Citizens Push Back Against Mask Mandates

SATURDAY, AUG 26, 2023 – 01:30 PM

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

Americans are raising their voices against mask mandates reintroduced by some institutions amid reports of rising COVID-19 cases—with some people calling recent infections an “election variant.”

On Aug. 20, Morris Brown College announced in an Instagram post that the institution has reinstated its COVID-19 mask mandate “effective immediately” due to reports of infections among students in the Atlanta University Center. All students and employees are mandated to wear face masks for a 14-day period, with students required to observe physical distancing.

Hollywood studio Lionsgate has sent a memo asking employees to wear masks after some of its workers were infected with COVID-19.

“Employees must wear a medical grade face covering (surgical mask, KN95 or N95) when indoors except when alone in an office with the door closed, actively eating, actively drinking at their desk or workstation, or if they are the only individual present in a large open workspace,” Sommer McElroy, of Lionsgate, wrote in the memo.

Primary care provider Kaiser Permanente is now requiring staff, patients, and visitors at its Santa Rosa facilities to wear face masks.

Last week, Upstate Medical’s two hospitals in New York reimposed mandatory masking following reports of an uptick in COVID-19 infections.

Many people have begun pushing back against mandates and questioned the timing of the rise in COVID infections—with 2024 elections nearing.

“And just like that, the election variant emerges,” author George Papadopoulos said in an Aug. 23 post on X.

“I see the election time variant of COVID is about to drop. Mail in ballots to EVERYONE! Lol. America no longer has free and fair elections. We are no different than 3rd world countries in this regard,” conservative political commentator Candace Owens said in an Aug. 23 X post.

“I hear that the Covid-19 Election Variant may be coming back. I Will Not Comply,” Republican Kari Lake said in an Aug. 23 post on X.

The use of “election variant” comes in the context of the 2020 election—during the COVID pandemic—when many states expanded voting procedures, including mail-in ballots, to accommodate lockdown restrictions.

“In the 2020 election, 69 percent of voters nationwide cast their ballot non-traditionally—by mail and/or before Election Day,” according to the U.S. Census Bureau.

A Pew Research survey from November 2020 showed that Democrats benefited greatly from mail-in ballots. While 32 percent of Trump supporters voted through absentee or mail-in ballots, this was much higher in the case of Joe Biden, as 58 percent of his supporters used mail-in ballots.

Meanwhile, some Hollywood celebs have started promoting mask-wearing.

“COVID is on the rise. SO MANY friends now are really sick. BE MINDFUL. WEAR A MASK if required or even if you feel unwell and are out in public spaces,” Oscar winner Jamie Lee Curtis said in an Aug. 22 Instagram post showing an image of the actress with a mask.

Clinical psychologist Dr. Jordan B. Peterson responded to Curtis’ mask promotion by stating, “Enough medical fascism.”

“Stay at home if you’re scared. But leave the rest of us the hell alone,” he said in an Aug. 23 post on X.

Rising Infection Numbers

According to data from the U.S. Centers for Disease Control and Prevention (CDC), there has been an uptick in COVID-19 hospitalization in recent weeks. As of the week ending Aug. 12, there were 12,613 admissions, which is double the 6,313 admissions for the week ending June 24.

However, the current increase in hospitalizations is far lower compared to the previous two years, suggesting that COVID-19 infections popping out this time may not be as severe as in the past.

In 2022, the week ending Aug. 13 had registered 41,113 hospitalizations, which is more than three times what it was on Aug. 12, 2023. For the week ending Aug. 14, 2021, hospitalization numbers were at 77,625.

The COVID-NET laboratory-confirmed COVID-19 hospitalization overall rate per 100,000 people was at 1.7 for the week ending Aug. 12, far lower than 9.2 in the same period last year.

The current concerns regarding COVID-19 have been triggered due to a newly discovered variant called BA.2.86. The World Health Organization (WHO) said that the new strain is a “variant under monitoring.”

In an Aug. 23 update, the CDC said that at least two cases of BA.2.86 infections have been identified in the United States. Existing medications for COVID-19 “appear to be effective with this variant,” it said. CDC believes that an updated vaccine “will be effective at reducing severe disease and hospitalization.”

“At this point, there is no evidence that this variant is causing more severe illness,” the agency stated.

Government COVID-19 Testing Orders

Multiple departments under the federal government have placed orders for COVID-19 equipment, according to media executive Steve Bannon’s podcast website.

The Department of Defense (DoD) has given a $1.5 million order to Hologic Sales and Service for COVID-19 testing services, the website said, citing data from USA Spending. The contract is set to begin in October and end in May 2024.

The Department of Veterans Affairs (VA) has placed a $2 million contract with Abbott Molecular Inc. for COVID-19 testing, with the contract set to begin on Sept. 22. It has also signed a $1.3 million contract with Biofire Diagnostic for testing.

Back in April, the Biden administration announced that it was spending $5 billion to develop more COVID-19 vaccines and treatments. However, the announcement did not mention masking or social distancing.

Masking has been a highly politicized issue ever since the pandemic began years ago, with some questioning whether the government had the authority to institute mask mandates.

In 2022, the U.S. Supreme Court ruled that the White House does not have the authority to enforce vaccine or masking mandates on companies with 100 or more employees.

Last year, the court ruled that the U.S. Transportation Security Administration (TSA) has the power to impose mask mandates on planes, trains, and other transportation options.

In an Aug. 22 post on X, physician David McCune criticized incidents of mandatory masking at institutions. “If they will go back to the utterly failed practice of forced masking at the mere hint of new cases, it means, among other things, they have utter disregard for the human right to contact with other humans.”

“Faces [matter]. And the freedom to show yours shall not be abridged,” Mr. McCune said. He was responding to Morris Brown College’s masking requirement for students and employees.

Though mask-wearing is pushed as a way to combat the COVID-19 pandemic, many experts have countered such suggestions.

In an interview with The Epoch Times, Yoav Yehezkelli, a specialist in internal medicine and medical management, pointed out that “all the studies done in the world until 2020 showed that there is no justification” for wearing masks to prevent the spread and infection of a respiratory virus.

In 2020, after the pandemic, recommendations for wearing masks suddenly changed “without having any new professional support to confirm that it does indeed have effectiveness against respiratory infection.”

A review of mask use studies published in January this year found that the use of face masks is not effective in reducing the spread of respiratory viruses.

END

they know the truth: Nine Florida Republican counties adopt resolution calling for the ban of covid vaccines

(EpochTimes)

Republicans In Nine Florida Counties Adopt Resolution Calling For Ban Of COVID Vaccines

SUNDAY, AUG 27, 2023 – 10:30 PM

Authored by T.J. Muscaro via The Epoch Times (emphasis ours),

A movement is gaining momentum to pressure Florida Gov. Ron DeSantis, county sheriffs, and the Florida Legislature to ban COVID-19 vaccines and all other mRNA vaccines in the state.

Republican executive committees in nine Florida counties—the local arms of the Republican Party of Florida—have adopted a resolution asking Mr. DeSantis and lawmakers to prohibit the sale and distribution of the vaccines in Florida.

The 83-page resolution also asks state Attorney General Ashley Moody to immediately seize all remaining vaccine supplies and conduct a forensic analysis of them.

The so-called “Ban the Jab” resolution adopted by the local Republican executive committees was written by psychotherapist Joseph Sansone.

It was adopted first by local-level GOP officials in Lee County, which includes Ft. Myers. It was then adopted by the committees in Collier, Lake, Santa Rosa, Seminole, St. Johns Hillsborough, and Brevard Counties. Franklin County became the ninth county to pass it on Aug. 19.

“On behalf of the preservation of the human race, the Lee County Republican Party calls upon Gov. DeSantis and the state legislature to prohibit the sale and distribution of Covid injections and all mRNA injections in the state of Florida, and for the state Attorney General to immediately seize all Covid injections and mRNA injections in the state of Florida and have a forensic analysis conducted,” the committee said in voting to adopt the resolution.

The resolution includes more than 140 exhibits of evidence that the authors say point to the independent findings of biomedical professionals and others concerned about vaccines.

None of the executive counties responded to The Epoch Times’ request for further comment.

The CDC declined to comment. The Republican Party of Florida, Pfizer, Moderna, and the FDA did not respond to requests for comment from The Epoch Times.

Accusations Against the Vaccine

The resolution adopted by GOP officials across the state includes a statement from Francis A. Boyle, the human rights lawyer and international law professor credited with writing the Biological Weapons and Anti-Terrorist Act of 1989. That legislation established the U.S. Code’s current bioweapon definition.

Mr. Boyle described the vaccines as “COVID frankenshots” and alleged that they are “existentially dangerous to the

It also cites a coalition of 17,000 physicians and medical scientists gathered in May 2022 for what they called the Global COVID Summit.

That summit decided to “recognize that the disastrous COVID-19 public health policies imposed on doctors and our patients are the culmination of a corrupt medical alliance of pharmaceutical, insurance, and healthcare institutions, along with the financial trusts which control them.”

The resolution also cites the national Vaccine Adverse Event Reporting System (VAERS), which chronicles reports of adverse reactions to vaccines including COVID-19 vaccines.

Following the COVID-19 vaccine rollout, there was a reported 1,700 percent increase in VAERS reports and a 4,400 percent increase in reported “life-threatening conditions,” according to Florida’s own VAERS data.

In total, more than 41,000 adverse-effect VAERS reports were filed in Florida in 2021 and more than 9,000 in 2022.

The Governor’s Actions

Mr. DeSantis, currently running for the Republican nomination for president, already has taken measures to push back against vaccine mandates in the state.

He persuaded the Florida Supreme Court to impanel a grand jury in December 2022 to determine if any crimes were committed during the vaccine’s rollout.

In May, he signed four medical freedom bills.

Senate Bill 252 prohibits discrimination based on vaccination status and bans vaccine passports.

House Bill 1387 bans gain-of-function research in the state of Florida.

Senate Bill 1580 guarantees freedom of speech protections for physicians and medical professionals, such as protection for whistleblowers and the ability to object to participating in any treatments.

And Senate Bill 238 link provides protection against discrimination based on health care choices by keeping any investigations on the matter confidential.

Florida Surgeon General Dr. Joseph Ladapo has been critical of the federal government’s pressure for citizens to submit to COVID-19 vaccines.

“Healthcare professionals should always communicate the risks of a medical intervention to their patients in a manner that is clinically appropriate and meets standards of ethical practice,” he said during a round-table discussion with Mr. DeSantis in December 2022.

“President Biden and Big Pharma have completely prevented that from happening—it is wrong.

“With these new actions, we will shed light on the forces that have obscured truthful communication about the COVID-19 vaccines.”

Dan Berger contributed to this report.

end

This is awful: Biden to fund a new COVID vaccine which will not work and this vaccine will be mandatory.

(zerohedge)

Biden To Fund New COVID Vaccine “For Everybody… Whether They’ve Gotten It Before Or Not”

SUNDAY, AUG 27, 2023 – 05:00 PM

President Joe Biden on Friday told reporters that he’s planning to request more money from Congress to develop a new coronavirus vaccine.

“I signed off this morning on a proposal we have to present to the Congress a request for additional funding for a new vaccine that is ne- — necessary — that works,” the official White House transcript reads.

“Tentatively, it is recommended that — it will likely be recommended that everybody get it no matter whether they’ve gotten it before or not.“

The announcement follows a recorded rise in Covid-19 cases in some regions, which has been accompanied by the return of mask mandates and cancelled classes by some colleges and businesses.

New vaccines containing the version of the omicron strain XBB.1.5 are already being developed by Pfizer, Novavax and Moderna. However, the virus’s continuing mutation will likely necessitate updated vaccines.

The Biden administration’s supplemental funding request for Congress for the start of the new fiscal year did not include COVID-19 vaccinations. Instead, the White House asked for roughly $40 billion to fund short-term key priorities such as more aide for Ukraine, federal disaster funds, climate change and border priorities. –The Hill

Maybe this time it will actually be safe and effective?

COVID tyrants destroyed an entire generation of children because these fanatics were scared of the flu & wanted to rig voting laws for the 2020 election:

“Post-COVID, American children are still missing far too much school

The pandemic seems to have permanently increased… https://t.co/hlqiJ8DfYl pic.twitter.com/73oyr2EBuX— Prodigal (@ProdigalThe3rd) August 27, 2023
end

SWAMP STORIES

“Yes, They Were Being Bribed”: Fired Ukraine Prosecutor Corroborates Biden Corruption

SATURDAY, AUG 26, 2023 – 02:00 PM

Victor Shokin, the fired Ukrainian prosecutor investigating Biden family corruption (that Donald Trump was impeached for asking about) has spoken out for the first time since 2019 – and says the Bidens did it.

To review – Shokin had an active and ongoing investigation into Ukrainian energy company Burisma and its owner, Mykola Zlochevsky, according to a 2020 US Senate Committee report.

Zlochevsky, who hired Hunter Biden to sit on his board, granted his own company (Burisma) permits to drill for oil and gas in Ukraine while he was Minister of Ecology and Natural Resources. Shokin stated in a 2019 deposition that there were five criminal cases against Zlochevesky, including money laundering, corruption, illegal funds transfers, and profiteering through shell corporations while he was a sitting minister.

Now, Shokin tells Fox News that be believes the Bidens were taking bribes.

“I do not want to deal in unproven facts. But my firm personal conviction is that yes, this was the case. They were being bribed,” Shokin told the outlet. “The fact that Joe Biden gave away $1 billion in U.S. money in exchange for my dismissal – my firing – isn’t that alone a case of corruption?” he asks in another clip.

The full interview with Shokin will air Saturday evening at 8pm ET with Brian Kilmeade.

According to the White House, Fox News is giving a “platform to lies” by airing the interview.

Republicans, meanwhile, aren’t letting this one go.

Earlier this week we noted that memos obtained by Just the News via FOIA request reveal that the Obama Administration was still actively communicating with Shokin after Biden’s December 2015 threat to withhold $1 billion in US aid unless then-President Petro Poroshenko fired him.

The memos reveal:

Senior State Department officials sent a conflicting message to Shokin before he was fired, inviting his staff to Washington for a January 2016 strategy session and sent him a personal note saying they were “impressed” with his office’s work.
U.S. officials faced pressure from Burisma emissaries in the United States to make the corruption allegations go away and feared the energy firm had made two bribery payments in Ukraine as part of an effort to get cases settled.
A top U.S. official in Kyiv blamed Hunter Biden for undercutting U.S. anticorruption policy in Ukraine through his dealings with Burisma.

Meanwhile, nobody else seems interested in what Shokin has to say.

end

Why The House Has No Alternative To An Impeachment Inquiry Into President Biden

SATURDAY, AUG 26, 2023 – 06:30 PM

Authored by Jonathan Turley,

Below is my column in The Messenger on the expanding evidence in the Biden corruption scandal and the need for Congress to take commensurate action to investigate the matter. After this column ran, Fox’s Brian Kilmeade conducted an interview with Ukrainian prosecutor general Viktor Shokin. What was striking about the interview is not just the contradiction with other accounts (like insisting that he was investigating Burisma and the investigation was expanding when he was fired), but that he claimed that Kilmeade was the first to seek to interview him. This is just Shokin’s account and many question his veracity. However, it is astonishing that this is the first interview that I have seen of one of the key figures in this scandal. It highlights the need to still fully investigate a scandal that the media has largely avoided in prior years. However, the greatest case for an impeachment inquiry was made by Attorney General Merrick Garland himself.

Here is the column:

When Congress returns next month, it has little alternative but to launch a long-discussed impeachment inquiry into President Joe Biden. For House Speaker Kevin McCarthy (R-Calif.), the case for an inquiry came from a most unlikely source: Attorney General Merrick Garland.

The debacle in the Hunter Biden investigation has left most objective legal analysts in disbelief, with one CNN analyst calling it an “unholy mess.”

Even before the collapse of a widely condemned “sweetheart deal” with Hunter, the investigation headed by U.S. Attorney David Weiss was a growing concern for many observers. In prior years, I wrote about Garland’s refusal to appoint a special counsel despite the obvious conflicts posed by the potential involvement of President Biden in his son’s alleged influence-peddling scandal. I also raised the problem of an investigation that remained ongoing for years as the statute of limitations expired on major potential crimes.

It turns out that the same concerns were being raised within the Weiss team. Two IRS whistleblowers recently confirmed that the expiration of potential tax felony crimes was raised with Weiss and the Department of Justice (DOJ). There reportedly was an agreement to extend that period, including on the violations tied to the most controversial alleged payments from sources in Ukraine and other countries. The two witnesses testified that the Justice Department instead allowed the statute of limitations to expire.

These two whistleblowers — and, more recently, a former FBI agent — said that the DOJ tipped off the Biden team on attempts to interview Hunter and to conduct searches. They describe an investigation that was anything but the “routine” matter described by congressional Democrats in seeking to block House investigations.

What followed has bordered on the burlesque. Weiss cut a deal with Hunter’s legal team that was widely derided. After years of investigation, he and the DOJ agreed to a couple of tax misdemeanors, a papered-over gun charge, and no risk of jail time for the president’s son. The deal disassembled in court after a few questions from the presiding judge about sweeping immunity language and other curious elements. When District Judge Maryellen Noreika asked the prosecutor if he had ever seen any agreement like this one, he replied “no.”

House Republicans had previously demanded that Weiss and his team answer questions about the investigation and the plea bargain. And an appearance before a House committee was planned when Garland suddenly preempted that by doing what many of us have demanded for years: He appointed a special counsel. To the amazement of many, though, he appointed the one prosecutor who should have been categorically excluded — David Weiss.

Section 600.3 of the DOJ’s code on special counsels requires an appointment from outside the Justice Department, for obvious reasons. While another prior special counsel, John Durham, also came from within the Justice Department, Durham was retiring from the department at the time of his appointment. Not only did Garland have to ignore his own regulations to appoint Weiss but he also had to ignore the main qualification: The appointed outside counsel should be someone with “a reputation for integrity and impartial decision-making.”

Weiss could well have a legitimate defense to Republican complaints that he ran a fixed investigation into Hunter or accusations that he made false statements to his own team. However, he clearly remains under suspicion by many people. That is reflected in an ABC News/Ipsos poll in which almost half of Americans lack trust that the DOJ will conduct the Hunter Biden investigation in a “fair and nonpartisan manner.”

In addition to this controversial appointment, Garland again refused to expressly extend the special counsel’s mandate to include influence-peddling allegations involving President Biden.

Even some liberal pundits are mystified by these moves and why Garland would not simply appoint someone in compliance with the regulations who could guarantee a new and full investigation.

So Weiss is now investigating crimes that continue to dwindle in number due to the long delays in prosecution. It is like waiting for winter to go goose hunting in Canada, long after the geese have flown South. Everyone just gets dressed up and fires aimlessly into an empty sky.

While Hunter still can be charged on the same meager grounds (and possibly the addition of a Foreign Agents Registration Act charge), the alleged fix remains in the Biden investigation.

Now, however, Congress will have a more difficult time getting answers out of Weiss because he can claim he is engaged in an ongoing special counsel investigation, and he can use the eventual special counsel report as much to defend his own actions as to detail any potential crimes.

At the same time, the Biden administration still is resisting the sharing of information with the House, including records held by the National Archives.

For months, I have discussed a potential impeachment of the president with Republican House members and have encouraged them not to repeat the abuses of House Democrats in the use of “snap impeachments” and the discarding of fact hearings in the House Judiciary Committee.

Garland, however, has effectively forced their hands.

While Garland seems incapable of imagining any crime involving the president, he has made a conclusive — if unintended — case for an impeachment inquiry.

With the investigative impediments created by the Weiss appointment and by Garland’s refusal to expressly extend the special counsel’s mandate to the allegations of Biden family influence-peddling, there is little choice but to commence an impeachment inquiry. The authority of the House is at its apex when carrying out its duties under the impeachment clause.

Whatever interest — or ability — remains to prosecute Hunter Biden, Congress has a separate duty to confirm any high crimes and misdemeanors committed by President Biden. Indeed, the Democrats themselves established precedent for carrying out retroactive impeachments for prior offices, including any which may have occurred when Biden was vice president.

With the current state of the Hunter Biden investigation and the baffling conduct of Attorney General Garland, there is no alternative for the House but to launch the impeachment inquiry.

end

The activist judge refuses Trump’s request for election delay

(zerohedge)

Trump Trial Set For March 2024 As Activist Judge Refuses Request For Election Delay

MONDAY, AUG 28, 2023 – 11:51 AM

Obama-appointed activist Judge Tanya Chutkan – who’s behind some of the most “extreme sentencing of January 6th defendants” while “openly supporting the violent Black Lives Matter riots of 2020” – has denied a request to move Donald Trump’s federal election-interference trial until after the 2024 US election.

Instead, the trial will start March 4, 2024 in what the WSJ framed as ‘seeking a balance’ between prosecutors’ request for a Jan. 2 start date, and Trump’s request to push the trial to April 2026, citing the large volume of evidence they will have to examine, as well as the historic nature of the case.

Trump is the first president in US history accused of blocking the peaceful transfer of power to his successor, which his lawyers characterized as “terra incognita.”

“Never in the history of the United States have we seen a case of this magnitude go to trial in four months, and this man’s liberty and life is at stake,” said Trump attorney John Lauro on Monday. “He deserves an adequate representation. He’s no different than any American.”

Chutkan, a US District Court judge in the District of Columbia, previously worked at a law firm that represented Fusion GPS, the company that helped orchestrate the Russia collusion hoax targeting former President Donald Trump. During her stint with Boies Schiller Flexner, the Democrat-friendly law firm also reportedly represented Clinton Cabal foot soldier Huma Abedin, the former wife of disgraced Democrat Anthony Weiner.

Special counsel Jack Smith charged Trump with four crimes on August 1st, including conspiring to defraud the U.S., obstructing an official proceeding and conspiring against the rights of voters, per the Journal.

The indictment points to actions leading up to the Jan. 6, 2021, attack on the U.S. Capitol by Trump’s supporters. Trump has denied wrongdoing and accused prosecutors of pursuing him to undermine his bid to return to the White House.

One of Smith’s prosecutors, Molly Gaston, acknowledged that the discovery evidence so far amounts to 12.8 million pages, but said most of it had already been turned over to or previously reviewed by the defense. At least 25% of those pages are associated with Trump’s campaign and political-action committee, more than three million came from the U.S. Secret Service, and hundreds of thousands came from publicly available litigation, Gaston said. -WSJ

According to Gaston, grand jury transcripts, notes, exhibits and reports from interviews amount to roughly 58,000 pages, while prosecutors have assembled roughly 47,000 pages of “key documents” for Trump’s defense team, including evidence they thought Trump’s lawyers would find helpful.

“It’s essentially a road map to our case,” she said.

Back to Gaetz… more via the Epoch Times.

“Judge Tanya Chutkan’s extreme sentencing of January 6th defendants, while openly supporting the violent Black Lives Matter riots of 2020, showcases a complete disregard for her duty of impartiality and the rule of law,” Mr. Gaetz said.

He appeared to be referring to remarks the judge made in one Jan. 6-related sentencing.

“People gathered all over the country last year to protest the violent murder by the police of an unarmed man,” she said, referencing violent riots that erupted after the death of George Floyd. “To compare the actions of people protesting, mostly peacefully, for civil rights, to those of a violent mob seeking to overthrow the lawfully elected government is a false equivalency and ignores a very real danger that the January 6 riot posed to the foundation of our democracy.”

Mr. Gaetz’s resolution points to a few other cases of “open partisanship,” including the fact that the Obama-appointed district judge had donated thousands of dollars to his presidential campaign, and that during another Jan. 6-related sentencing she “lamented” that President Trump “remains free to this day.”

“Such partisan commentary by Judge Chutkan has been ongoing and calls into question her fitness as a judge and … Chutkan’s comments and activities on and off the bench violate all 5 canons of the Code of Conduct for United States Judges,” the resolution reads (pdf).

The canons are that a judge should uphold the integrity and independence of the judiciary; avoid impropriety and the appearance of impropriety in all activities; perform the duties of the office fairly, impartially, and diligently; engage in extrajudicial activities that are consistent with the obligations of judicial office, and refrain from political activity.

“It is deeply concerning that a United States District Court judge would exhibit such blatant political bias from the bench,” he said in a press release. “Justice may be blind, but the American people are not—we see Judge Chutkan for her actions, and we rebuke them in the greatest possible sense.”

THE KING REPORT

The King Report August 28th , 2023 Issue 7063

Independent View of the News

Inflation: Progress and the Path Ahead – Powell’s speech at Jackson Hole SymposiumAlthough inflation has moved down from its peak—a welcome development—it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective… Because leases turn over slowly, it takes time for a decline in market rent growth to work its way into the overall inflation measure. The market rent slowdown has only recently begun… Nonhousing services, accounts for over half of the core PCE index and includes a broad range of services, such as health care, food services, transportation, and accommodations. Twelve-month inflation in this sector has moved sideways since liftoff… Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy… Getting inflation sustainably back down to 2 percent is expected to require a period of below-trend economic growth as well as some softening in labor market conditions… Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy… Two percent is and will remain our inflation target. We are committed to achieving and sustaining a stance of monetary policy that is sufficiently restrictive to bring inflation down to that level over time… We cannot identify with certainty the neutral rate of interest, and thus there is always uncertainty about the precise level of monetary policy restraint.”… That assessment is further complicated by uncertainty about the duration of the lags with which monetary tightening affects economic activity and especially inflation… There is evidence that inflation has become more responsive to labor market tightness than was the case in recent decades… We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data. Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all. We will keep at it until the job is done.https://www.federalreserve.gov/newsevents/speech/powell20230825a.htm Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’“Although inflation has moved down from its peak… it remains too high… We are prepared to raise rates further if appropriate…”https://www.cnbc.com/2023/08/25/fed-chair-powell-calls-inflation-too-high-and-warns-that-we-are-prepared-to-raise-rates-further.html Powell’s speech was brief, about 12 minutes, and was a tad more hawkish than expected/hoped. We opined that Jerome would reiterate the points that he has recently made. New points: The Fed won’t raise its inflation target from 2%; the Fed “cannot identify with certainty the neutral rate of interest;” and the Phillips Curve has returned from the dead (employment and inflation have become more correlated). Swaps showed no change after Powell’s speech; they still show a 60% chance of a 25bp rate hike by the FOMC’s November 1 soiree. UAW votes to authorize Ford, GM, Stellantis strike after contract expiresUAW’s current contracts are set to expire in mid-September (Even more wage inflation, Jerome!)https://www.foxbusiness.com/economy/uaw-votes-authorize-ford-gm-stellantis-strike-contract-expires China Stimulus Rally Lasts Just 10 Minutes, Showing Trader GloomBeijing eases home purchase rules in bid to boost economyBenchmark CSI 300 Index reverses loss only to fall back againA gauge of developers’ shares also gave up more than half of the gains spurred by the property news. Meanwhile, benchmarks in Hong Kong shrugged off a separate report by Reuters on China’s plans to cut the stamp duty on domestic stock trading by as much as 50%… Stocks began the session with losses even after the China Securities Regulatory Commission on Thursday used a seminar with executives from the country’s pension fund, large banks and insurers to ask them to increase support for the market… On Friday, the official Xinhua news agency reported that China is proposing that local governments can scrap a rule that disqualifies people who’ve ever had a mortgage — even if fully repaid — from being considered a first-time homebuyer in major cities…https://ca.finance.yahoo.com/news/china-urges-banks-boost-stock-011435268.html US Budget Deficits Are Exploding Like Never BeforeInvestors see a high-spending new normal keeping interest rates and inflation elevated. American politicians are keener than ever to juice the economy with government cash, a shift that’s already helping to drive up borrowing costs and looks likely to keep them high long after the inflation emergency is over. The outlook for the federal budget right now is essentially unprecedented—crisis-size deficits as far as the eye can see, even though the economy appears to be in good health. That prospect is making investors uneasy, as demonstrated by yields on benchmark 10-year Treasuries climbing above 4.3% this week, their highest levels since 2007. Other borrowing costs are rising in tandem: The average rate on a 30-year fixed mortgage has surged above 7% for the first time in more than two decades… History tells us that no asset class is really going to escape this entirely.”..https://www.bloomberg.com/news/articles/2023-08-24/bond-market-flashes-warning-as-us-budget-deficit-surges August UM Sentiment 69.5, 71.2 expected; Current Conditions 75.7, 77.4 prior; Expectations 65.5, 67.3 prior; 1-year Inflation 3.5%, 3.3% consensus and prior; 5-year Inflation 3%, 2.9% expected and prior ESUs traded mostly positive but in a tight range during Asian trading. They broke down modestly after China closed at 2 ET. The usual rally for and on the 3 ET European opening was modest; but it accelerated moderately after 4 ET. ESUs and stocks then went flat until another moderate rally began after the 8 ET US bond market opening. ESUs had another moderate rally into the NYSE opening, as usual. Traders dumped five minutes after the NYSE opening. ESUs and stocks sank until 10:09 ET. They then surged to a daily high of 4427.75 at 10:16 ET on the hope or belief that Powell would throw equity bulls a bone. They were wrong. ESUs then sank to a daily low of 4365.25 at 11:00 ET. The rally into the European close was robust; ESUs surged to 4401.25 at 11:33 ET. Old World traders needed ‘the marks’ ahead of the weekend. Harker: Data will dictate what FOMC does in September – 11:30 ETPhil Fed Pres Harker: ‘We’re clearly going to hold through the end of the year.’ – 11:32 ET How can Harker issue conflicting comments about Fed policy within two minutes? Cleveland Fed Pres Mester: Probably have more work to do, core inflation too high – 11:37 ETCleveland Fed Pres Mester: Labor market has been stronger than anticipated – 11:43 ET Fed’s Harker Breaks Ranks with Powell, Rejects Further Rate Increases, Signaling Board Dissent“I’m in the camp of keeping the pressure on, not increasing it,” Harker stated, reflecting his inclination to keep interest rates stable. “Others may disagree with that,” Harked said, highlighting the presence of diverging views within the Fed board…https://www.benzinga.com/etfs/broad-u-s-equity-etfs/23/08/34045414/feds-harker-breaks-ranks-with-powell-rejects-further-rate-increases-signaling-board-di Is Harker pandering to Team Obama-Biden for Powell’s job? We warned that Team Obama Fed members would try to guide policy to help Biden in 2024. We noted that we positioned our US Treasury portfolio to account for this possibility. Harker is an East Coast academic. “Before taking office at the Philadelphia Fed, Harker was the 26th president of the University of Delaware.” What notable US politician is from Delaware? https://www.philadelphiafed.org/our-people/patrick-t-harker Harker was the dean of the Wharton School (University of Pennsylvania) from 2001 to 2007. What highest-level US official also has a relationship with the University of Pennsylvania? The rebound that commenced near 11:00 ET persisted until 13:15 ET. ESUs rallied 41.25 from the low. After a retreat to 4389.25 at 13:32 ET, ESU commenced the afternoon rally. ESUs intractably moved higher, finally hit a daily high of 4429.00 at 15:00 ET. After a slow rollover, ESUs slid into the close. Short rates increased after Powell’s speech. The 2-year hit 5.09%. The 5-year hit 4.56%. Long rates fell sharply into Powell’s speech (USUs hit 120 9/32) and then increased sharply (USUs sank to 119 5/32). After a robust rebound after 11:00 ET, USUs rolled over when the Noon ET hour arrived. Living with High Public Debt – KC Fed researchers, presented at Jackson Hole SymposiumPublic debts have soared to unprecedented peacetime heights. These high debts pose economic, financial and political problems… Our thesis in this paper is that high public debts are not going to decline significantly for the foreseeable future… History suggests that the reorganization required of firms to capitalize on Generative ArtificialIntelligence and other new general-purpose technologies, in ways that translate into faster aggregate growth, will take a decade and more… An anticipated increase in inflation may reduce debt ratios in the short run by raising the denominator of the debt-to-GDP ratio, in the long run it is apt to raise interest rates and shorten maturities… Fourth, statutory ceilings on interest rates and related measures of financial repression areless feasible than in the past… Looking forward, the challenges are daunting. Given ageing populations, governments will have to find additional finance for healthcare and pensions. They will have to finance spending on defense, climate change abatement and adaptation, and the digital transition… This means minimizingunproductive public spending. It means targeting social transfers as a way of limiting pressures on the expenditure side. It means limiting contingent liabilities…https://www.kansascityfed.org/Jackson%20Hole/documents/9749/JH_Paper_Eichengreen.pdf Positive aspects of previous sessionEquities rebounded after a late morning tumble in the US Negative aspects of previous sessionUS Treasury note yields increasedGasoline soared as much as 4.04% Ambiguous aspects of previous sessionWhat will Powell say? Will there be a relief rally after Powell’s remarks? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4393.49Previous session S&P 500 Index High/Low: 4418.46; 4356.29 Pfizer Documents Show COVID-19 Vaccines Contain Potentially Harmful ‘Modified’ RNA, Not mRNA https://www.zerohedge.com/political/pfizer-documents-show-covid-19-vaccines-contain-potentially-harmful-modified-rna-not-mrna Biden Says New COVID Shots ‘That Work’ May Be on the Way for All Americans“I signed off this morning on a proposal we have to present to the Congress – a request for additional funding for new vaccine that is necessary that works .. .Tentatively it is recommended, it would likely be recommended, everybody get it. No matter whether they got before or not.” (Did Joe inadvertently claim prior Covid vaxxes weren’t effective?) https://twitter.com/TheChiefNerd/status/1695387736583061712 What happened to the tens of billions of dollars in profits that Big Pharma garnered from Covid vaccines? Secondary Bacterial Pneumonia Drove Many COVID-19 Deaths – Northwestern HospitalSecondary bacterial infection of the lung (pneumonia) was extremely common in patients with COVID-19, affecting almost half the patients who required support from mechanical ventilation…https://news.feinberg.northwestern.edu/2023/05/05/secondary-bacterial-pneumonia-drove-many-covid-19-deaths/ NIH: Bacterial Pneumonia Caused Most Deaths in 1918 Influenza Pandemic August 19, 2008https://www.nih.gov/news-events/news-releases/bacterial-pneumonia-caused-most-deaths-1918-influenza-pandemic Dr. Anthony Fauci Reflects on His 54-Year Career at NIHhttps://www.liebertpub.com/doi/10.1089/vim.2022.29052.int ‘They’ knew about the bacterial infection risk of masks for many years, yet they ignored it to advance vax and masks mandates as well as ventilator use. Qui bono? China ‘Might’ Have Lost a Nuclear Attack Submarine with ‘All Hands Lost’Rumors are still swirling that a Chinese Type 093 Shang-class nuclear submarine… suffered a serious accident near the Yellow Sea off Lianyungang… reports claim the entire crew is dead…https://www.19fortyfive.com/2023/08/china-might-have-lost-a-nuclear-attack-submarine-with-all-hands-lost/ @elonmusk on DoJ charging him for NOT hiring aliens: SpaceX was told repeatedly that hiring anyone who was not a permanent resident of the United States would violate international arms trafficking law, which would be a criminal offense. We couldn’t even hire Canadian citizens, despite Canada being part of NORAD! This is yet another case of weaponization of the DOJ for political purposes. San Francisco Nordstrom closes after nearly three decades in business amid rise in crime https://trib.al/EUzs9B2 Third-Largest Oil Refinery (Marathon) in America (LA) is Shut Down after Catastrophic Firehttps://thepoliticsbrief.com/third-largest-oil-refinery-in-america-is-shut-down-after-catastrophic-fire/ Today – The Jackson Hole anxiety is over and it’s Monday; ergo, traders are very bullish. Barring news, traders will buy dips and try to push stuff higher. ESUs are +7.00 and USUs are -3/32 at 20:00 ET. Expected econ data: Aug Dallas Fed Mfg Activity -19; Fed VCEO Barr on banking services 12:30 ET S&P 500 Index 50-day MA: 4460; 100-day MA: 4314; 150-day MA: 4217; 200-day MA: 4145DJIA 50-day MA: 34,664; 100-day MA: 35,110; 150-day MA: 33,786; 200-day MA: 33,735(Green is positive slope; Red is negative slope) S&P 500 Index – Trender trading model and MACD for key time framesMonthly: Trender and MACD are positive – a close below 3752.81 triggers a sell signalWeekly: Trender and MACD are negative – a close above 4586.76 triggers a buy signalDaily: Trender and MACD are negative – a close above 4456.52 triggers a buy signalHourly: Trender and MACD are negative – a close above 4424.13 triggers a buy signal Fired Ukrainian prosecutor Shokin says Joe and Hunter Biden DID take BRIBES – and were behind his ousting: ‘Isn’t that corruption alone?’ he says in preview of bombshell interview ‘The fact that Joe Biden gave away $1 billion in U.S. money in exchange for my dismissal – my firing – isn’t that alone a case of corruption?‘ he continues in another clip…https://www.dailymail.co.uk/news/article-12445811/Fired-Ukrainian-prosecutor-Shokin-says-Joe-Hunter-Biden-DID-BRIBES-ousting-Isnt-corruption-says-preview-bombshell-interview.html Former Ukraine prosecutor makes explosive claims against Joe and Hunter Biden in new interview“I have said repeatedly in my previous interviews that Poroshenko fired me at the insistence of the then Vice President Biden because I was investigating Burisma,” Shokin said in the interview. “[Poroshenko] understood and so did Vice President Biden, that had I continued to oversee the Burisma investigation, we would have found the facts about the corrupt activities that they were engaging in. That included both Hunter Biden and Devon Archer and others.”… “They were being bribed. And the fact that Joe Biden gave away $1 billion in U.S. money in exchange for my dismissal, my firing – isn’t that alone a case of corruption?”… One year after leaving the White House, Biden boasted about how he personally put pressure on Poroshenko to fire Shokin. He explained that he told Ukrainian officials the U.S. would withhold up to $1 billion in aid money earmarked for their country if Shokin remained in his position. “I said, ‘Nah, I’m not going to – we’re not going to give you the billion dollars.’ They said, ‘You have no authority. You’re not the president. The president said –.’ I said, ‘Call him.’” Biden remarked during a January 2018 event hosted by the Council on Foreign Relations. “I said, ‘I’m telling you, you’re not getting the $1 billion.’” “I said, ‘You’re not getting the billion. I’m going to be leaving here,'” Biden continued. “I looked at them and said, ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money.’ Well, son of a bitch, he got fired. And they put in place someone who was solid at the time.”https://www.foxnews.com/politics/former-ukraine-prosecutor-makes-explosive-claims-joe-hunter-biden-new-interview Burisma’s Devon Archer met with then-Secretary of State Kerry just weeks before Shokin was fired https://www.foxnews.com/politics/burismas-devon-archer-met-secretary-state-kerry-weeks-before-shokin-fired Biden’s false tales are increasing: Is it a sign of a memory disorder?President Biden has a long history of telling embellished, if not outright fabricated, stories, but lately the falsehoods from the president are coming at a rapid rate. Mental health experts say it might be a sign of confabulation, a neurological disorder linked to dementia…https://www.washingtontimes.com/news/2023/aug/25/joe-bidens-false-tales-are-increasing-it-sign-memo/ Biden staffers met with Special Counsel Jack Smith’s aides before Trump indictmentTurley said the March meeting was particularly troublesome and “raises obvious concerns about visits to the White House after [Bratt] began his work with the special counsel.”…https://nypost.com/2023/08/26/biden-staffers-met-with-special-counsel-jack-smiths-aides-before-trump-indictment/ Trump returns to Twitter, now X, to post his mugshotElection Interference Never Surrender! https://t.co/mJuzz3hJUa Liberals, especially the MSM, are livid and chagrined that Trump’s mugshot was not the humiliation that they wanted and it did NOT demoralize his supporters. Instead, the mugshot is being hailed as a badge of honor, a cause célèbre, by most GOP voters. The Atlantic: The Mug Shot Is a WarningDonald Trump’s booking photo was supposed to be an exercise in humility. He turned it into a threat. Once it became clear that the officer would make good on the promise, the speculation turned into giddiness. Last night, CNN led a countdown to Trump’s appearance at the Atlanta-area jail… But Trump, trailed by the news cameras that confer his ubiquity, found a way to turn the moment’s historical meaning—a former president, mug-shotted—into one more opportunity for brand building… He looks straight at the viewer, seemingly incandescent with rage… His menacing glare gives a similar stage direction to the people who follow him and do his bidding… Trump, evidently pleased with his portrait, broadcast it on social media…https://www.theatlantic.com/culture/archive/2023/08/trump-mug-shot-georgia/675134/ Democrats celebrate, Biden fundraises off Trump arrest https://t.co/YtkRt0W6wy @RNCResearch: Joe Biden has spent 23 of the past 30 days on vacation — and later this week, he’s going back to the beach for more. “If you want something said, ask a man, if you want something done, ask a woman.” – Nikki Haley You can image the outrage if a male GOP candidate at the GOP Debate on Wednesday night stated, “If you want something said, ask a woman, if you want something done, ask a man.” Lee Fang: Nikki Haley’s Sudden Wealth Rooted In Weapons Industry, Pro-War Advocacy NetworkHaley joined the board of Boeing… Haley’s primary income, aside from speaking engagements, is from United against a Nuclear Iran, an advocacy group shrouded in secrecy… Michael Haley, Nikki’s husband, also launched his own defense contracting firm in recent years. Michael who previously served with the National Guard, along with stints in human resources and at a high-end clothing store, earns up to $500,000 from a company called Allied Defense…https://www.zerohedge.com/political/lee-fang-nikki-haleys-sudden-wealth-rooted-weapons-industry-pro-war-advocacy-network Ramaswamy’s claims he came from ‘no money’ clash with prep school upbringing – Parents were a lawyer and a psychiatrist, already had a stock portfolio when he graduated elite private high schoolhttps://www.foxnews.com/politics/ramaswamys-claims-came-no-money-clash-prep-school-upbringing Mike Pence dredges up Vivek Ramaswamy’s past January 6 statements: The campaign cited a Jan. 11, 2021, op-ed Ramaswamy wrote for The Wall Street Journal, in which he referred to the “disgraceful Capitol riot” as a “stain on American history.”… Ramaswamy’s tune on the Capitol riot seemed to change in June and July, as he appeared to take a far more sympathetic view of the incident… https://www.foxnews.com/politics/mike-pence-dredges-vivek-ramaswamys-past-january-6-statements-stain-american-history @michaelpsenger: Vivek Ramaswamy partnered directly with the Chinese government to launch a pharmaceutical company. In Jan 2022, he wrote a WSJ article declaring that social distancing and cloth masks work, and that vaccines were the most important step in fighting COVID. We have to do better than Trump vs. Biden — they’re both just TERRIBLETrump is simply mean. He humiliates people, taking pleasure in mocking them publicly… he’s famous for not paying little people who work for him. He stiffed a cabinet-builder, a dishwasher, and a plumber… Trump lies even about unimportant things, like the crowd at his inauguration, ratings for his TV show, even claiming he won a nonexistent “Man of the Year” award… But Biden lies, too… Then there’s the corruption… A few years ago, he got a doctor to approve a letter saying Trump would be “the healthiest individual ever elected!” That doctor later admitted that Trump wrote the letter himself. These are our choices! Two old, corrupt liars? Can’t we do better?https://nypost.com/2023/08/25/we-have-to-do-better-than-trump-vs-biden-theyre-both-just-terrible/ Trump co-defendant, head of Black Voices for Trump denied bail and will remain in prisonFloyd was deemed a flight risk by the court and is the only co-defendant to not strike a bond agreementhttps://www.foxnews.com/politics/trump-co-defendant-head-black-voices-trump-denied-bail-will-remain-prison GOP Rep. @BurgessOwens: While Dems push “cash bail” for hardened criminals, Harrison Floyd sits in a jail cell with no bond. I guess the laws of equity don’t apply to Black, Trump supporters. Silence over drowning of Obama chef Tafari Campbell sparks conspiracy theories including his relationship with the 26-year-old unidentified woman who witnessed his death Capable swimmer, paddle boarding near the ex-president’s summer home in Martha’s Vineyard… drowned in shallow water… officials refused to reveal even basic findings, such as whether Campbell suffered a medical episode or was under the influence of drugs or alcohol… https://www.dailymail.co.uk/news/article-12446371/Silence-drowning-Obama-chef-Tafari-Campbell-sparks-conspiracy-theories-including-relationship-26-year-old-unidentified-woman-witnessed-death.html White Sox shooting: two people are shot at Guaranteed Rate Field as Chicago officials are forced to cancel post-game Vanilla Ice concert https://t.co/VMrF6wJynD “It is unclear to investigators whether the shots were fired from outside or inside the ballpark,” the team wrote… https://cwbchicago.com/2023/08/bullet-that-struck-2-fans-during-white-sox-game-may-have-been-fired-a-mile-away.html The Chicago White Sox never notified fans about the incident, which occurred about midway during the game. After the game, they posted a message on the scoreboard that the after-game concert was cancelled due to “technical issues.” https://twitter.com/CWBChicago/status/1695259105257234849?s=02 The security at Guaranteed Rate Field #WhiteSox https://twitter.com/flozek/status/1695337172474163550 204 Homicides in Chicago during Mayor Johnson’s First 100 DaysHe’s doubled down on the city’s long-running soft-on-crime approach… downplaying mob actions and resorting to semantics. And he keeps talking and talking about ‘root causes,’ but refuses to stop what’s happening nightly on the city’s streets…https://wirepoints.org/204-chicago-homicides-in-mayor-johnsons-first-100-days-including-four-teenagers-killed-last-weekend-wirepoints/ Paper and bamboo straws contain PFAS chemicals more often than plastic straws do, study findshttps://www.msn.com/en-us/health/medical/paper-and-bamboo-straws-contain-pfas-chemicals-more-often-than-plastic-straws-do-study-finds/ar-AA1fKcPX “The third leech isn’t working? Better give him another booster leech” memehttps://twitter.com/RealJamesWoods/status/1695675864313385252/photo/1 “Oppressors can tyrannize only when they achieve a standing army, an enslaved press, and a disarmed populace.” — James Madison

GREG HUNTER INTERVIEWING JOHN RUBINO

Civilization & Dollar are Going to End – John Rubino

Civilization & Dollar are Going to End – John Rubino

By Greg Hunter On August 26, 2023 In Market Analysis, Political Analysis86 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Financial writer John Rubino warned two weeks ago that whatever came out of the BRICS (Brazil, Russia, India, China and South Africa) meeting this past week would be bad for the dollar. The dollar did not crash, but the prospects for it remaining the reserve currency of the world took a beating. The BRICS added a half dozen countries into its group. Two of the most troubling for the dollar are Saudia Arabia (SA) (where the petrodollar started) and United Arab Emirates (UAE) where the U.S. has huge Navy and Airforce assets. SA and UAB officially joining the BRICS was nothing short of a stunning rebuke of U.S. financial and military power in the Persian Gulf. Rubino says, “So, now we’ve got the world’s biggest oil exporter and the site of a very big U.S. military presence in an anti-dollar coalition. . . . This is a very big deal because the BRICS are sort of a trade organization dedicated to bypassing the dollar and not living under U.S. rule any longer. These countries don’t want to be controlled by what they see as a predatory empire. . . . They are looking at what is happening financially in the developed world, and the U.S., Europe and Japan are taking on debt at an accelerating rate in a way that is going to lead to a gigantic financial crisis. There is no way around that at this point. If you are in the dollar centric trade system, you are vulnerable to a global crisis that is led by the dollar. So, you don’t want to be involved with that. There are a lot of reasons to set up a trade and monetary system that is not dollar based. One of the big ones is the dollar is going away because there is no way you can take on that kind of debt without a gigantic financial crisis and a currency reset at the end of it.”

Rubino goes on to say, “If we have a huge inflation led crisis that ends up with a currency reset, you don’t want to own Treasury bonds. Dollars are no longer risk-free assets. . . . The BRICS countries have a lot of different motivations for forming their own coalition that is not vulnerable to the U.S. . . . It makes a lot of sense for them to do what they are doing.”

The term “Mad Max” and the scenarios it conjures are becoming more and more possible with the deterioration of the financial system. Weather warfare is being waged in places all around the world with the help of geoengineering. Woke culture is making many cities unlivable and unsafe. Then add a global monetary crisis, and you have a perfect storm of destruction everything civilized. Rubino says, “There is a category of real estate called ‘cabin on land.’ It’s where you can buy 50 acres and a 400 square foot cabin with maybe solar panels and a well. Suddenly, that is hot property. Everybody wants one of those. That’s a sign of societal breakdown. Something where you are all alone in the woods is your preferred lifestyle, that means the world has gotten pretty stressful. That is the case for a lot of people in the U.S. We are creating a generation of ‘end of the roaders and survivalists.’ They are looking at this world and saying I need an AR-15, a cabin with solar panels and I will be okay.”

Find out why Rubino says all financial roads lead to gold and silver and why Rubino says the prepper lifestyle is becoming more and more popular.

There is much more in the 50-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 8.26.23.

(https://usawatchdog.com/civilization-dollar-are-going-to-end-john-rubino/)

After the Interview:

John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com. There is even more cutting-edge original information and analysis if you subscribe.

You can also support John Rubino at the snail mail address below

SEE YOU TUESDAY