Shanghai Gold Benchmark Price

USD oz AM1987.82

PM1995.91

Historical SGE Fix

New York price at the time: $1911.00

premium $84.00

xxxxxxxxxxxxxxxxxx

Bitcoin morning price:, $26,172 UP 83 Dollars

Bitcoin: afternoon price: $26,129 UP 40 dollars

Platinum price closing $905.05 UP $3.00

Palladium price; $1252.75 UP $35.75

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: $2,586.68 DOWN 5.76 CDN dollars per oz (ALL TIME HIGH 2,775.35)

BRITISH GOLD: 1528.07 DOWN 3.25 pounds per oz//(ALL TIME HIGH//CLOSING///1630.29)

EURO GOLD: 1778.37 DOWN 0.50 euros per oz //(ALL TIME HIGH/CLOSING//1861.21)//

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,911.300000000 USD
INTENT DATE: 09/12/2023 DELIVERY DATE: 09/14/2023
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 24
323 H HSBC 33
363 H WELLS FARGO SEC 22
435 H SCOTIA CAPITAL 28
624 H BOFA SECURITIES 47
657 C MORGAN STANLEY 8
661 C JP MORGAN 173 2
686 C STONEX FINANCIA 1
690 C ABN AMRO 3
732 C RBC CAP MARKETS 2
737 C ADVANTAGE 18
905 C ADM 16 1

TOTAL: 189 189

JPMorgan stopped 2/189 contracts.

FOR SEPT.:

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2023. CONTRACT: 189 NOTICES FOR 18,900 OZ or .5878 TONNES

total notices so far: 3822 contracts for 382,200 oz (11.888 tonnes)

FOR SEPT:

SILVER NOTICES: 33 NOTICE(S) FILED FOR 165,000 OZ/

total number of notices filed so far this month : 2590 for 12,950,000 oz

XXXXXXXXXXXXXXXXXXXXXXXX

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

GLD

WITH GOLD DOWN $2.00

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

INVENTORY RESTS AT 884.89 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER DOWN 23 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.009 MILLION OZ INTO THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 440.736 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 929 CONTRACTS TO 125,292 AND FURTHER FORM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY $0.01 GAIN IN SILVER PRICING AT THE COMEX ON TUESDAY. TAS ISSUANCE WAS A GOOD SIZED 400 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 TUESDAY NIGHT: 400 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). BUT WERE UNSUCCESSFUL IN KNOCKING SOME SILVER CONTRACTS AS WE HAD A HUGE SIZED LOSS OF 829 CONTRACTS ON BOTH EXCHANGES ALONG WITH MINOR T.A.S.LIQUIDATION THROUGHOUT THE TUESDAY COMEX SESSION

WE MUST HAVE HAD:

A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS( 100 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 14.420 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S E.F.P. JUMP TO LONDON OF 15,000 OZ//NEW TOTAL 13.350 MILLION OZ + OUR CRIMINAL ISSUANCE OF 200 EXCHANGE FOR RISK CONTRACTS OR 1.00 MILLION OZ OF FUTURE SILVER STANDING FOR METAL//NEW TOTALS EXCHANGE FOR RISK: 2.0 MILLION OZ: NEW TOTALS SILVER STANDING: 15.350 MILLION OZ// /// / //HUGE SIZED COMEX OI LOSS/ SMALL SIZED EFP ISSUANCE/VI) GOOD SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 400 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL 26 CONTRACTS

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

TOTAL CONTRACTS for 8 days, total 5331 contracts: OR 26.655 MILLION OZ (666 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 26.655 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: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 26.655 MILLION OZ

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 929 CONTRACTS DESPITE OUR GAIN IN PRICE OF $0.01 IN SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 100 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 SEPT OF 14.2 MILLION OZ FOLLOWED BY TODAY’S 15,000 OZ E.F.P JUMP TO LONDON.+ 1.0 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL FOR EXCHANGE FOR RISK = 2.0 MILLION OZ//NEW TOTALS STANDING 15.350 MILLION OZ// /// WE HAVE A HUGE SIZED LOSS OF 829 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GOOD SIZED 400 CONTRACTS//MINOR FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION. THE NEW TAS ISSUANCE TUESDAY NIGHT (400) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 33 NOTICE(S) FILED TODAY FOR 165,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 5932 CONTRACTS TO 441,221 AND CLOSER TO 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: 205 CONTRACTS

WE HAD A STRONG SIZED INCREASE IN COMEX OI ( 6137 CONTRACTS) DESPITE OUR $11.20 LOSS IN PRICE//TUESDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR SEPT. AT 12.656 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 18,700 OZ QUEUE JUMP//NEW TOTAL STANDING 14.435 TONNES + /A FAIR (AND CRIMINAL) ISSUANCE OF 1746 T.A.S. CONTRACTS /// ALL OF..THIS HAPPENED WITH OUR $11.20 LOSS IN PRICE WITH RESPECT TO TUESDAY’S TRADING.WE HAD A VERY STRONG SIZED GAIN OF 10,613 OI CONTRACTS (33.010 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 4681 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 441,221

IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,613 CONTRACTS WITH 5932 CONTRACTS INCREASED AT THE COMEX// AND A STRONG 4681 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 10,613 CONTRACTS OR 33.010 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1746 CONTRACTS)

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4681 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (5932) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 10,613 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 SEPT. AT 12.656 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 18700 OZ/// 3) ZERO LONG LIQUIDATION WITH STRONG TAS LIQUIDATION DURING THE COMEX SESSION //4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 1746 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

SEPT

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

TOTAL EFP CONTRACTS ISSUED: 17,735 CONTRACTS OR 1,773,500 OZ OR 55.163 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 2216 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAY(S) IN TONNES 55,163 TONNES

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

THUS EFP TRANSFERS REPRESENTS 55.163/3550 x 100% TONNES 1.54% 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: 195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 55.163 TONNES (SMALLER THAN LAST 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 HUGE SIZED 929 CONTRACTS OI TO 125,318 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 SMALL 100 CONTRACTS

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

DEC 100 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 100 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 903 CONTRACTS AND ADD TO THE 100 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 829 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 4.145 MILLION OZ

OCCURRED DESPITE OUR TINY $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//

WEDNESDAY MORNING//TUESDAY NIGHT

SHANGHAI CLOSED DOWN 13.99 PTS OR 0.45% //Hang Seng CLOSED DOWN 16.67 PTS OR 0.09%/ /The Nikkei CLOSED DOWN 69.85 PTS OR 0.21% //Australia’s all ordinaries CLOSED DOWN 0.77 % /Chinese yuan (ONSHORE) closed UP AT 7.2828 /OFFSHORE CHINESE YUAN UP TO 7.2839 /Oil UP TO 89.20 dollars per barrel for WTI and BRENT UP AT 92/42 / Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 5932 CONTRACTS TO 441,221 DESPITE OUR LOSS IN PRICE OF $11.20 ON TUESDAY.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 4681 EFP CONTRACTS WERE ISSUED: : DEC 4681 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4681 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED TOTAL OF 10,613 CONTRACTS IN THAT 4681 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 5932 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $11.20//TUESDAY 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 MONDAY NIGHT WAS A FAIR 1746 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: SEPT (14.435) ( NON ACTIVE MONTH)

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: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 14.435 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $11.20) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A VERY STRONG GAIN OF 10,613 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF TUESDAY’S TRADING. THE T.A.S. ISSUED ON TUESDAY 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 33.010 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR SEPT. (12.656 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 18,700 OZ//NEW STANDING 14.435 TONNES // ALL OF THIS WAS ACCOMPLISHED DESPITE OUR LOSS IN PRICE TO THE TUNE OF $12.20.

WE HAD – REMOVED 205 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST

NET GAIN ON THE TWO EXCHANGES 10,613 CONTRACTS OR 1,061,300 OZ OR 33.010 TONNES.

Estimated gold volume today:// 158,234 awful

final gold volumes/yesterday 172,959 awful//speculators have left the gold arena

//SEPT 13/ /// THE SEPT. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	160,755.000 OZ JPMorgan 5000 kilobars .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	189 notice(s) 18900 OZ 0.5878 TONNES
No of oz to be served (notices)	819 contracts 819,00 oz 2.5474 TONNES
Total monthly oz gold served (contracts) so far this month	3822 notices 382200 OZ 11.888 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: 0

total customer deposits: nil oz

we had 1 customer withdrawals

i) Out of JPMorgan: 160,755.000 oz (5000 kilobar)

total withdrawals 160,755.000 oz

Adjustments; 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER.

For the front month of SEPTEMBER we have an oi of 1008 contracts having GAINED 183 contracts. We had

4 contracts were served on TUESDAY, so we gained an additional 187 CONTRACTS or AN ADDITIONAL 18,700 oz will stand for delivery in this non active delivery month of Sept.

Oct gained 411 contracts to 25,210 contracts.

NOV GAINED 6 CONTRACTS to stand at 18

December GAINED 3865 contracts UP to 379,482 contracts.

We had 189 contracts filed for today representing 18,900 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 173 notices were issued from their client or customer account. The total of all issuance by all participants equate to 189 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 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 SEPT /2023. contract month,

we take the total number of notices filed so far for the month (3822 x 100 oz ), to which we add the difference between the open interest for the front month of SEPT (1008 CONTRACTS) minus the number of notices served upon today 189 x 100 oz per contract equals 454,100 OZ OR 14.435 TONNES the number of TONNES standing in this non active month of SEPT.

thus the INITIAL standings for gold for the SEPT contract month: No of notices filed so far (3822) x 100 oz + (1008) {OI for the front month} minus the number of notices served upon today (189) x 100 oz) which equals 454,100 oz standing OR 14.435 TONNES

TOTAL COMEX GOLD STANDING: 14.435 TONNES WHICH IS HUGE FOR AN INACTIVE 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: 2,035,284.466 OZ 63.395 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 20,881 552.420 OZ

TOTAL REGISTERED GOLD 10,850,669.474 (337.50 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 10,030,882.942 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,815,385 OZ (REG GOLD- PLEDGED GOLD) 274,195 tonnes//dropping like a stone

END

SILVER/COMEX

SEPT 13

//2023// THE SEPT 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	23,117.828oz Delaware .
Deposits to the Dealer* Inventory*	nil
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	33 CONTRACT(S) (165,000 OZ)
No of oz to be served (notices)	80 contracts (400,000 oz)
Total monthly oz silver served (contracts)	2590 Contracts (12,950,000 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 0 deposit customer account:

total customer deposit nil oz

JPMorgan has a total silver weight: 136.901 million oz/274.209 million or 50.00%

Comex withdrawals 1

i) Out of Delaware 23,117.828 oz

total: 23,117.828 oz

adjustments:

TOTAL REGISTERED SILVER: 42.449 MILLION OZ//.TOTAL REG + ELIGIBLE. 274.209 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:

silver open interest data:

FRONT MONTH OF SEPT /2023 OI: 113 CONTRACTS HAVING LOST 63 CONTRACT(S). WE HAD 60

CONTRACTS SERVED ON TUESDAY. SO WE LOST 3 CONTRACTS OR 15,000 OZ WERE IMMEDIATELY E.F.P.d TO LONDON IN ORDER TO TAKE DELIVERY OVER THERE. NO SILVER COULD BE FOUND OVER HERE.

OCT LOST 31 CONTRACTS TO STAND AT 1074.

NOVEMBER LOST 5 CONTRACTS TO STAND AT 102

DEC. LOST 433 CONTRACTS TO STAND AT 113,251 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 33 for 165,000 oz

Comex volumes// est. volume today 48,502 poor

Comex volume: confirmed yesterday 44,728 poor

To calculate the number of silver ounces that will stand for delivery in SEPT. we take the total number of notices filed for the month so far at 2590 x 5,000 oz = 12,950,000 oz

to which we add the difference between the open interest for the front month of SEPT (113) and the number of notices served upon today 33 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the SEPT/2023 contract month: 2590 (notices served so far) x 5000 oz + OI for the front month of SEPT (135) – number of notices served upon today (33 )x 500 oz of silver standing for the SEPT contract month equates to 13.350 million oz. + OUR 1.0 MILLION EXCHANGE FOR RISK..NEW TOTALS EXCHANGE FOR RISK: 2.0 MILLION OZ//NEW TOTAL STANDING FOR SILVER: 15.350 MILLION OZ//

There are 42.145 million oz of 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

SEPT 13/WITH GOLD DOWN $2.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES

SEPT 12/WITH GOLD DOWN $11.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES

SEPT 11/WITH GOLD UP $4.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES

SEPT 8/WITH GOLD UP $0.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES

SEPT 7/WITH GOLD DOWN $0.20 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 3.22 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 886.69 TONNES

SEPT 6/WITH GOLD DOWN $8.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.16 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 889.81 TONNES

SEPT 5/WITH GOLD DOWN $13.50 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 0.87 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 890.97 TONNES

SEPT 1/WITH GOLD UP $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 0.87 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 890.10 TONNES

AUGUST 31/WITH GOLD DOWN $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 0.87 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 890.10 TONNES

AUGUST 30/WITH GOLD UP $8.15 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.59 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 889.23 TONNES

AUGUST 29/WITH GOLD UP 17.05 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 2.6 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 886.64 TONNES

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

GLD INVENTORY: 886.64 TONNES

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

SEPT 13/WITH SILVER DOWN 23 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1,009 MILLION OZ INTO THE SLV//: // /.////INVENTORY RESTS AT 440.736 MILLION OZ

SEPT 12/WITH SILVER UP 1 CENT TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.209 MILLION OZ INTO TEH SLV//: // /.////INVENTORY RESTS AT 439.727 MILLION OZ

SEPT 11/WITH SILVER UP 19 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.209 MILLION OZ INTO TEH SLV//: // /.////INVENTORY RESTS AT 439.727 MILLION OZ

SEPT 8/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // /.////INVENTORY RESTS AT 436.518 MILLION OZ

SEPT 7/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // /.////INVENTORY RESTS AT 436.518 MILLION OZ

SEPT 6/WITH SILVER DOWN 36 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.373 OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 436.518 MILLION OZ

SEPT 5/WITH SILVER DOWN 69 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 734,000 OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 437.891 MILLION OZ

SEPT 1/WITH SILVER DOWN 20 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.375 MILLION OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 440.00 MILLION OZ

AUGUST 31/WITH SILVER DOWN 20 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.375 MILLION OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 438.625 MILLION OZ

AUGUST 30/WITH SILVER DOWN 2 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.834 MILLION OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 443.210 MILLION OZ

AUGUST 29/WITH SILVER UP 49 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 183,000 OF SILVER INTO THE THE SLV// /.////INVENTORY RESTS AT 445.044 MILLION OZ

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

CLOSING INVENTORY 440.736 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

end

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

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

Sad to report the death of Michael Kosares

(GATA)

Monetary metals advocate and USAGold founder Michael Kosares dies

Submitted by admin on Tue, 2023-09-12 21:24Section: Daily Dispatches

9:21p ET Tuesday, September 12, 2023

Dear Friend of GATA and Gold:

Monetary metals investors and believers in free and transparent markets and limited and accountable government have lost a devoted advocate: Michael J. Kosares.

Kosares, founder of the USAGold coin and bullion dealership in Colorado and author of many financial commentaries cited by GATA, died last week at age 75 after fighting cancer for six years

Mike supported and encouraged GATA for many years and his passing is a special loss to us. His son, Jonathan, who succeeds to management of USAGold, wrote of Mike today: “A truly gifted writer, he made economics accessible, displaying again and again a remarkable ability to simplify even the most complex subjects for his readers.”

We will always remember Mike’s friendship and work for our cause.

Jonathan’s eulogy for his father has been posted at USAGold’s internet site here:

Recommended headline gold news and opinion

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

END

For a pittance, miners can work public land but there’s a push to make them pay

Submitted by admin on Tue, 2023-09-12 21:52Section: Daily Dispatches

By Lisa Friedman
The New York Times
Tuesday, September 12, 2023

Since Ulysses S. Grant was in the White House, any company that mines gold or other metals from public land has been able to haul it away without paying a dime in royalties to the federal government.

As demand is spiking for copper, nickel, cobalt, and other metals and minerals that are essential for electric vehicles and other clean energy technologies, the Biden administration says Congress needs to fix the Gold Rush-era General Mining Law so it can better manage the mineral resources buried under millions of acres of public land.

A top priority: Require companies to pay something in exchange for what they take. Unlike companies that extract oil, gas, and coal from federal lands, hardrock miners pay no royalties to the federal government.

The call to impose a fee of 4 to 8% of the net value of what is mined could translate into as much as $97 million annually and draws sharp opposition from mining operators.

Today the Biden administration said the law needed to be updated to ensure the United States developed a supply of critical minerals that are “responsibly sourced” to achieve Mr. Biden’s clean energy goals.

“The biggest takeaway from our report is that our 150-year-old-law, the 1872 mining law, needs to be reformed and brought into the 21st century,” Tommy Beaudreau, the deputy secretary of the Interior Department, said.

Developing reliable and responsible domestic sources for critical minerals is “central to the clean energy and technology revolution that are shaping our future for the better,” he said. …

… For the remainder of the report:

END

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES//

END

5 a. IMPORTANT COMMENTARIES ON COMMODITIES: LITHIUM

This is an extremely important discovery in the uSA and they will be able to mine cheaply due to concentration

(zerohedge)

$1.5 Trillion Dollars Worth Of ‘White Gold’ Found In Supervolcano On Nevada-Oregon Border

TUESDAY, SEP 12, 2023 – 09:45 PM

An ancient supervolcano along the Nevada-Oregon border contains what could be the world’s largest single deposit of lithium. The findings could reshape the West’s supply of the critical metal — and might even change the geopolitical game with China.

Researchers from Lithium Americas Corporation, GNS Science, and Oregon State University published their findings in the Journal for Science Advances on Aug. 31. They found the McDermitt Caldera, a caldera measuring 28 miles long and 22 miles wide, on the Nevada-Oregon border, contains around 20 to 40 million metric tons of lithium – a figure that would dwarf deposits in Australia and Chile.

Commenting on the findings is Anouk Borst, a geologist at KU Leuven University and the Royal Museum for Central Africa in Tervuren, Belgium, who told Chemistry World that the McDermitt Caldera deposit “could change the dynamics of lithium globally, in terms of price, security of supply and geopolitics.”

Data from the United States Geological Survey, presented by Visual Capitalist Bruno Venditti, shows the US lags behind the world in terms of lithium production.

Even though the US has the third largest reserves.

If you can believe it, the US only has one producing lithium mine – Silver Peak – in Nevada (about halfway between Las Vegas and Carson City) – while worldwide demand is surging due to the government-forced clean energy transition. We noted in July that Exxon Mobil Corp. was in the beginning stages of possibly becoming a ‘lithium kingpin.’

Thomas Benson, a geologist with Lithium Americas Corporation and co-author of the new study, expects mining operations at the McDermitt Caldera to begin in early 2026.

Lithium prices have been on a rollercoaster of a ride since Coivd. Battery-grade lithium carbonate prices in China (priced in dollars) were as low as $5,850 per ton in the summer of 2020 and jumped as much as 1,200% through the peak of $80,000 in early 2022. Prices have since collapsed to $30,000.

Daily Mail pointed out, “As of 2022, the average battery-grade lithium carbonate price was $37,000 per metric ton, meaning the volcano is potentially sitting on $1.48 trillion worth of the precious metal.”

McDermitt Caldera positions Nevada as possibly the epicenter of the ‘green energy white gold rush’ amid a massive push by the Biden administration to force people to drive electric vehicles — all because they say there’s a ‘climate emergency.’

END

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 WEDNESDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED UP TO 7.2828

OFFSHORE YUAN: UP TO 7.2839

SHANGHAI CLOSED DOWN 13.99 PTS OR 0.45%

HANG SENG CLOSED DOWN 16.64PTS OR .09%

2. Nikkei closed DOWN 69.85 OR 0.21%

3. Europe stocks SO FAR: ALL RED

USA dollar INDEX DOWN TO 104.43 EURO FALLS TO 1.0721 DOWN 22 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.698 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.45/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 UP CHINESE ON SHORE YUAN: UP// OFF- SHORE: UP

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 UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund UP TO +2.6815***/Italian 10 Yr bond yield UP to 4.472*** /SPAIN 10 YR BOND YIELD UP TO 3.747…**

3i Greek 10 year bond yield RISES TO 4.055

3j Gold at $1911.25 silver at: 22.87 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 61 /100 roubles/dollar; ROUBLE AT 96.55//

3m oil into the 89 dollar handle for WTI and 92 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 147.45// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.698% 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 0.8934 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9587well 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: 4.319 UP 5 BASIS PTS…

USA 30 YR BOND YIELD: 4.383 UP 5 BASIS PTS/

USA 2 YR BOND YIELD: 4.5039 UP 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 26.90…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: DOWN 2 BASIS PTS AT 4.4570

end

2.a Overnight: Newsquawk and Zero hedge:

USA EARLY MORNING REPORT

Futures Drift Lower Ahead Of CPI Report

WEDNESDAY, SEP 13, 2023 – 08:07 AM

S&P 500, Nasdaq 100 futures drifted lower overnight, and were last down modestly ahead of the US CPI release (previewed here), as European markets tumbled across the board on signs the region is quickly sliding into stagflation. As of 7:40am, S&P and Nasdaq 100 futures traded down 0.1% as Apple looked set for a second day of declines after China flagged security problems with iPhones, while saying it isn’t barring purchases. . The dollar remains steady ahead of the US CPI release due later Wednesday, while European stocks and German bunds slipped as markets boost bets on ECB policy tightening. Gold is down slightly and oil is up 0.68% rising to a new 2023 high after deficit warnings from the International Energy Agency.

In premarket trading, electric-vehicle makers including XPeng and Nio lead a drop in US-listed Chinese stocks after the European Union launched an investigation into Chinese subsidies for EVs. Apple fell 0.5%, erasing earlier gains, as China flagged security problems with iPhones. Here are some other notable premarket movers:

Ford gains 1.6% after UBS double-upgrades its rating to buy from sell, citing greater-than-expected earnings resilience driven by the automaker’s Ford Pro segment.
Grab fell 6.3% as some investors took money out for investing in IPO of Ryde, a smaller ride-hailing rival based in Singapore, according to Aletheia Capital.
Rocket Pharmaceuticals shares jump 18% after the gene-therapy developer said it’s in alignment with the US Food and Drug Administration on the global Phase 2 trial of RP-A501 for Danon disease, which is a fatal inherited cardiomyopathy.
Workhorse rose 18% after saying it received IRS approval as a qualified manufacturer for the Commercial Clean Vehicle Credit.

Arm Holdings Plc’s long-anticipated initial public offering is set to price Wednesday in the largest listing of the year. Arm is now looking to price the IP0 shares a dollar or more above the $47 to $51 target range, Bloomberg News reported.

Traders are bracing for the US CPI data (full preview here) on Wednesday and a faster-than-forecast print would likely rattle markets given the economic concerns in Europe. Economists at Bloomberg Economics say a third month of subdued core inflation would bolster the case for the Federal Reserve to cease rate increases, although the recent surge in oil prices means that headline inflation is about to jump the most since Since 2022.

Here is a bank by bank summary of CPI forecasts:

3.7% – Barclays
3.7% – Citigroup
3.7% – HSBC
3.7% – UBS
3.6% – Bank of America
3.6% – Goldman Sachs
3.6% – JP Morgan Chase
3.6% – Morgan Stanley
3.6% – Wells Fargo

“Markets appear on edge ahead of US inflation and the ECB’s rate decision,” Citigroup Inc. strategists including Luis Costa and Alexander Rozhetskin wrote in a note. “With oil edging above $90, fears of stickier inflation are increasing, while some reports indicate that the ECB’s latest staff projection might prompt a more hawkish stance.”

The US data are expected to send a mixed message on the US economy, according to Bloomberg Economics. Monthly headline inflation is seen at 0.6%, while annualized core inflation will stay near the Fed’s 2% target for a third straight month.

“Given stocks are currently quite directionless a faster-than-expected CPI reading can raise investors nerves and refocus their minds on the risks of high energy price volatility,” said Janet Mui, head of market analysis at RBC Brewin Dolphin. “If both headline and core surprised up then it could trigger a negative market reaction.”

In Europe, the Stoxx 600 Index retreated 0.9% and the Stoxx 50 fell 0.7%. FTSE 100 outperforms peers, dropping 0.2%, IBEX lags, dropping 1.2%. Here are the most notable European movers:

European auto shares rise, sending the Stoxx 600 Automobiles & Parts Index to its biggest intraday gain since July 27, after the EU began an investigation into Chinese subsidies for electric vehicles.
HHLA shares jump as much as 48%, the most intraday on record, after a unit of MSC offered to buy part of the Hamburg port services provider for €16.75 per A-share.
On The Beach shares gain as much as 15% after the online seller of packaged vacations forecast full-year adjusted pretax profit at the top end of market expectations.
Aroundtown shares rise as much as 5.8% after Goldman Sachs raises PT on the stock by 15% to €1.50, saying the German real estate firm has “sufficient headroom” on debt leverage.
Redrow shares gain as much as 4.1% after the UK homebuilder delivers an earnings statement which Goodbody says is “comforting.”
TeamViewer shares rise as much as 3.4% in Frankfurt, the most in a month, after the German software maker said it will cut back on its sponsorship deal with Manchester United from the start of the 2024 to 2025 season to boost profits.
AB Foods shares drop as much as 1.1% after Deutsche Bank cut its recommendation on the British conglomerate to hold from buy, citing limited scope for further earnings upside.
Unieuro shares fall as much as 9.8% in Milan as Banca Akros downgraded the Italian consumer electronics chain to reduce from neutral.
Knorr-Bremse, Alstom shares fall as Barclays rates the companies underweight, citing high valuations and headwinds.
Kingspan shares decline as much as 3% after JPMorgan downgraded the stock to neutral from overweight, saying catalysts have largely played out for the company, while stocks in the construction sector could be vulnerable for the rest of the year.

Markets in Europe were looking past the US data to the ECB’s meeting on Thursday. After reports that the central bank’s new economic estimates will show an inflation forecast for 2024 above 3%, traders upped wagers on policy makers raising rates at the meeting to a 70% chance, compared with a 20% probability earlier this month. The German two-year yield — among the most sensitive to monetary policy — rose five basis points to 3.18%, the highest level since mid-August.

In the UK, the pound sank as much as 0.4% against the greenback, before paring losses. Data showed the economy shrank at the fastest pace in seven months in July as strikes and wet weather hit activity harder than expected. That may prompt a pause when policy makers decide next week whether to raise interest rates again.

Earlier in the session, Asian stocks slipped, with tech stocks in Japan and China leading the drop as traders geared up for the release of US inflation figures. The MSCI Asia Pacific Index fell as much as 0.4% as tech names including Alibaba, Hitachi and Tencent headlined the losses. All equity benchmark gauges in the region were in the red as caution reigned ahead of the US inflation print which is likely to help shape the outlook for Federal Reserve policy. There’s “a heightened risk” that the data may come in above consensus expectations, which will push up Treasury yields and “put a ceiling on the bulls” for the Asian equity benchmark, according to Kelvin Wong, senior market analyst at Oanda.

A gauge of Chinese tech firms listed in Hong Kong headed for its longest run of declines since April, while a tech-heavy small-cap index in South Korea dropped more than 1%.
Japan’s Nikkei 225 swung between gains and losses with early advances seen following mixed PPI data and the improvement in BSI large industry surveys, although the index eventually slipped with money markets now pricing the BoJ to exit negative rates in January compared to a previous pricing of an exit in September next year.
Australia’s ASX 200 declined as tech stocks mirrored the underperformance seen in US counterparts and with nearly all sectors on the retreat aside from energy and utilities after further upside in oil prices.
India’s Sensex index closed higher for the ninth straight session, its longest winning run since April, and outperformed regional peers as banks and energy companies rallied. The S&P BSE Sensex rose 0.4% to 67,466.99 in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude to close above the 20,000-mark for the first time ever.

In FX, the Bloomberg Dollar Spot Index edged up 0.2%, recovering from a 0.7% slide on Monday. All G-10 FX traded lower versus the dollar; NZD and CAD are the strongest performers in G-10 FX, SEK and AUD underperform. Sterling at ~$1.24 after UK GDP data. The pound tested a three-month low and the euro weakened. Traders ramped up bets price pressures will force the European Central Bank to hike rates at its meeting on Thursday even as the German government was said to predict a contraction for this year and the UK economy shrank at the quickest pace in seven months.

EUR/USD falls 0.4% as investors wait to see whether the European Central Bank will hold off from raising interest rates at its meeting on Thursday
GBP/USD slides 0.4%, approaching its lowest in three months after data showed that the UK labour market was showing signs of cooling
USD/JPY climbs 0.8% to 147.42

Data dependence remains “the law of the land” when it comes to the dollar’s path, TD Securities strategists including Mark McCormick wrote in a note. “While our signals are currently biased in favor of the USD, we’re suspicious about the durability of the King’s return”

In rates, Treasuries traded near session lows reached during London morning amid bigger losses in bunds after Reuters reported that the European Central Bank expects inflation to hold above 3% next year. US yields are cheaper by 1bp-2bp across the curve led by long-end, steepening 2s10s, 5s30s spreads by ~1bp; US 10-year around 4.30% is 2bp cheaper on the day, bunds by an additional 2bp in the sector. Two-year TSY yields, which are more sensitive to Fed policy than longer maturities, stayed above 5%, while their 10-year peers held at 4. Short-dated European yields edged up, while UK gilts were little changed; European money markets shifted to price in a 25bp of rate hikes from the ECB this year, with 17bp of hike premium priced in for Thursday’s policy decision after the Reuters report dropped late Tuesday. Dollar IG issuance slate empty overnight and expected to be muted because of CPI; eleven names priced $19 billion Tuesday, taking weekly volume to $30 billion, and one elected to stand down. Treasury auction cycle concludes with $20 billion 30-year reopening; Tuesday’s 10-year stopped on the screws as it drew highest yield since 2007; WI 30-year yield at 4.380% is above auction stops since 2011 and ~19bp cheaper than last month’s. Focal points of US session are August CPI data and 30-year bond sale, following decent demand for Tuesday’s 10-year note auction.

In commodities, Crude gained after the IEA warned supply cuts by Saudi Arabia and Russia will drive volatility. West Texas Intermediate climbed for a second day and Brent extended gains above $92 per barrel as the IEA said production cuts will create a “significant supply shortfall.” Spot gold falls roughly $3 to trade near $1,911/oz.

To the day ahead now, and data releases include the US CPI print for August, along with UK GDP for July and Euro Area industrial production for July.

Market Snapshot

S&P 500 futures little changed at 4,462.25
MXAP down 0.2% to 161.48
MXAPJ down 0.2% to 502.29
Nikkei down 0.2% to 32,706.52
Topix little changed at 2,378.64
Hang Seng Index little changed at 18,009.22
Shanghai Composite down 0.4% to 3,123.07
Sensex up 0.5% to 67,530.25
Australia S&P/ASX 200 down 0.7% to 7,153.91
Kospi little changed at 2,534.70
STOXX Europe 600 down 0.5% to 452.95
German 10Y yield little changed at 2.66%
Euro down 0.1% to $1.0740
Brent Futures up 0.8% to $92.78/bbl
Gold spot down 0.1% to $1,912.42
U.S. Dollar Index little changed at 104.70

Top Overnight News from Bloomberg

Tech stocks were in retreat as Oracle Corp. posted slowing cloud sales, while the euro and pound weakened on concern the Europe faces a growing threat of stagflation.
The European Central Bank’s decision is a cliffhanger for investors, but even participants in the meeting have no inkling of the likely outcome, according to people familiar with the matter.
The new Cold War is a business opportunity, and Mexico looks better placed than almost any other country to seize it.
The global economy is shifting toward a higher-for-longer period for interest rates, making the coming flurry of monetary decisions across the developed world pivotal in mapping out that plateau.
Apple Inc.’s biggest day of the year has arrived, and the company is set to unveil updated versions of its iPhone, smartwatch and AirPods.
Arm Holdings Ltd.’s initial public offering is already oversubscribed by 10 times and bankers plan to stop taking orders by Tuesday afternoon, according to people familiar with the matter.
The luxury armored train carrying North Korean leader Kim Jong Un crossed into Russia ahead of a summit with President Vladimir Putin that the US said would focus on supplying weapons for Moscow’s war on Ukraine.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were pressured following the tech-led declines on Wall St owing to the post-Apple event disappointment and with participants cautious ahead of the upcoming US CPI data. ASX 200 declined as tech stocks mirrored the underperformance seen in US counterparts and with nearly all sectors on the retreat aside from energy and utilities after further upside in oil prices. Nikkei 225 swung between gains and losses with early advances seen following mixed PPI data and the improvement in BSI large industry surveys, although the index eventually slipped with money markets now pricing the BoJ to exit negative rates in January compared to a previous pricing of an exit in September next year. Hang Seng and Shanghai Comp were initially kept afloat amid strength in the energy names and with developers underpinned as some cities further loosened restrictions for the sector, but then conformed to the soured mood.

Top Asian News

China will extend tariff exemptions for imports of some US products until April 30th, 2024.
Japanese Finance Minister Suzuki said PM Kishida asked him to stay on in the current job in the cabinet reshuffle, while he added that they need to respond appropriately to market moves and will decide on the size and content of the new economic package from now on, according to Reuters.
PBoC will support prices to rise moderately, and will pay close attention to the effect of financial policies, via Central Bank Publication. Will strengthen the guidance of expectations.

European bourses are in the red, Euro Stoxx 50 -0.8%, following on from risk-off sentiment seen in the Asian markets overnight. Within Europe, sectors are primarily in the red featuring underperformance in Retail and Consumer Discretionary following earnings from Inditex while Auto names saw marked upside after von der Leyen’s announcement on Chinese EVs, though much of this has since pared. Stateside, futures are marginally weaker with the general tone a tentative one ahead of the US CPI report, ES -0.1%; NQ & RTY in-fitting. As a reminder, Asia-Pacific stocks were pressured following the tech-led declines on Wall St owing to the post-Apple event disappointment and with participants cautious ahead of the upcoming US CPI data

Top European News

Hamburg Port Surges on MSC Bid as Billionaire Kühne Circles
ECB Says Italy Bank Tax May Create Problems of Legal Uncertainty
Sharp Decline in UK Economy in July Revives Recession Risk
Tullow Shares Slump 11% After 1H Miss, Oil Guidance Narrowed
Kingspan Says Deal Discussions With Carlisle Have Ended
Saudi Oil Cuts Threaten Surge in Price Volatility, IEA Warns

The DXY is on a modestly firmer footing overall, but caged to a tight range above 104.50 in the run-up to the US CPI metrics later today.
EUR and GBP are modestly softer against the Buck whilst the GBP is modestly softer against the EUR following soft UK GDP data and hawkish ECB sources.
The antipodeans trade on either side of the spectrum, with the NZD resilient against the Buck following yesterday’s notable losses, whilst the AUD remains subdued by the woes in China alongside the broader cautious mood ahead of the US inflation metrics.
Substantial strength was seen in the Polish Zloty after the Polish PM’s Adviser said the PLN has weakened beyond the optimal level for Poland and added the optimal level for EUR/PLN is between 4.40-4.60 range.
Polish PM Adviser says the PLN has weakened beyond the optimal level for Poland; says optimal level for EUR/PLN is between 4.40-4.60 range; have the tools to ensure the PLN is at an optimal level.
PBoC set USD/CNY mid-point at 7.1894 vs exp. 7.2783 (prev. 7.1986)

Fixed Income

EGBs are under modest pressure with participants skewing their expectations hawkishly following Tuesday’s late-doors ECB sources piece; BTP-Bund yield spread has hit multi-month highs as a result, though remains markedly shy of the YTD peak.
Gilts are firmer in contrast following particularly soft GDP data which has prompted a number of desks to trim their UK 2023 growth view, though a 25bp hike in September continues to be the base case from a market pricing perspective.
Stateside, USTs are a touch softer taking cues from the above EGB move with US participants entirely focused on the upcoming CPI release.

Commodities

Crude benchmarks are modestly firmer following the rally seen yesterday, which resulted in the contracts settling higher by around USD 1.50/bbl apiece.
The weekly Private Inventory data proved to be bearish, with builds seen in headline crude stocks; following on from bullishly-received OPEC OMR and subsequent Brent oil price forecast upgrade via the EIA.
Spot gold is subdued amid the firmer Dollar, but the yellow metal’s prices remain north of USD 1,900/oz and in a tight range in the run-up to the US CPI report, with the 21 DMA to the upside at USD 1,916.44/oz while downside levels include yesterday’s low of USD 1,907.62/oz.
Base metals meanwhile now trade relatively mixed and with the breadth of the market narrow as markets await the US CPI data, 3M LME copper is back towards the session highs above USD 8,400/t after finding a floor near USD 8,350/t overnight.
US Energy Inventory Data (bbls): Crude +1.2mln (exp. -1.9mln), Gasoline +4.2mln (exp. +0.2mln), Distillate +2.6mln (exp. +1.3mln), Cushing -2.4mln.
All Libyan eastern oil ports have reopened following a shutdown on September 9th due to a storm, via the port agent.
Hungarian Farm Minister Nagy says they have agreed on a unilateral extension of the import ban on Ukrainian grains beyond September 15th, agreement with Romania, Slovakia and Bulgaria. Ban will be imposed on a broader range of products.
IEA OMR: Maintains 2023 and 2024 global oil demand growth forecast steady; says extension of oil-output cuts by Saudi and Russia will lock in a substantial market deficit through Q4 2023; OPEC+ cuts tempered by sharply higher Iranian oil flows.

Geopolitics

Russian-installed Governor of Sevastopol said Ukraine launched an air attack on Sevastopol in Crimea, while the air attack sparked a fire at Sevastapol’s shipyard and 24 people were injured, according to Reuters.
Russian President Putin and North Korean leader Kim met at the Vosotchny Cosmodrome for talks. Russian President Putin responded that it is why they have come to the Vostochny Cosmodrome when asked if Russia will help North Korea build satellites, while he added that they will discuss all issues and that North Korean Leader Kim is showing a big interest in Russian rocket equipment.
Romanian Defence Ministry says elements of possible drone found on Romanian territory (NATO).
North Korea fired projectiles believed to be ballistic missiles which landed outside of Japan’s exclusive economic zone, according to NHK citing the Japanese Coast Guard.
Taiwan’s Defence Ministry said 28 Chinese military aircraft entered Taiwan’s air defence zone on Wednesday morning and some Chinese aircraft crossed the Bashi channel to carry out drills with Chinese carrier Shandong, while it also showed a picture of a Taiwanese warship shadowing the Shandong.

US Event Calendar

07:00: Sept. MBA Mortgage Applications -0.8%, prior -2.9%
08:30: Aug. CPI YoY, est. 3.6%, prior 3.2%
- 08:30: Aug. CPI MoM, est. 0.6%, prior 0.2%
- 08:30: Aug. CPI Ex Food and Energy YoY, est. 4.3%, prior 4.7%
- 08:30: Aug. CPI Ex Food and Energy MoM, est. 0.2%, prior 0.2%
- 08:30: Aug. Real Avg Weekly Earnings YoY, prior 0.2%
- 08:30: Aug. Real Avg Hourly Earning YoY, prior 1.1%
14:00: Aug. Monthly Budget Statement, est. -$230b, prior -$219.6b

DB’s Jim Reid concludes the overnight wrap

Welcome to what is likely to be the most inflationary monthly US CPI day since June 2022 when the headline YoY rate was 9.1%. This will be followed by a knife-edge ECB’s policy decision tomorrow where market pricing is now pointing to a 53% chance of a hike. So it doesn’t get much more finely balanced than that.

For the US CPI print today, our economists are expecting monthly headline CPI to come in at +0.61%, which as discussed would be the fastest pace of monthly inflation since June 2022 thanks to the impact of higher gasoline prices. That’s in line with the consensus for a +0.6% print, as well as inflation swaps that are pricing in a +0.64% print so broadly speaking that’s the level markets will be benchmarking against. Assuming we get a monthly 0.6% print, then that would push up the year-on-year CPI print by four-tenths to +3.7%. But since higher gasoline prices won’t affect the core CPI number, they see that coming in at just +0.22% on a monthly basis, which would take the year-on-year core CPI print down four-tenths to 4.3%. See their full preview here for further details.

Whilst energy prices are expected to push up the CPI print today, there was little sign of further relief in the pipeline ahead, since Brent Crude oil prices closed above $92/bbl for the first time since November. That came as data from OPEC showed that oil markets faced a 3.3 million barrel per day shortfall in Q4, which is creating a very tight market. It’s also led to a notable uptick in inflation expectations, with the 2yr US breakeven (+4.4bps) now at 2.24%, which is its highest level since late April. This drove the 2yr Treasury yield back above 5% and to its highest level in over two weeks (+3.0bps to 5.02%) but a decline in real rates meant that the 10yr yield still ended the day -0.9bps lower at 4.28%.

With fresh signs of inflationary pressures, investors also moved to price in a growing chance that the ECB would in fact go ahead with another hike tomorrow. In fact, overnight index swaps are now pricing a better-than-even chance of a 25bp hike at 53%, up from 41% on Monday and 24% a week earlier. So this is something markets have been taking increasingly seriously. Then late yesterday evening we saw a Reuters story saying the updated ECB forecasts will see 2024 inflation at above 3%, bolstering the case for another hike on Thursday, according to “a source with direct knowledge of the discussion”. While a 2024 inflation forecast a touch above 3% would not be a major surprise, such a story shortly before the meeting is rather unusual for the ECB. The euro initially rallied by around +0.30% against the dollar following the report but has given half back in Asia.

Against that backdrop, but before the Reuters report, sovereign bond yields moved modestly higher across Europe on Tuesday, with those on 10yr bunds (+0.4bps), OATs (+0.8bps) and BTPs (+0.7bps) all rising. And there were larger moves at the front-end, with yields on 2yr German debt up +3.1bps.

It was a different story in the UK, where yields on 10yr gilts fell by -5.6bps yesterday. That followed some weaker-than-expected employment data, with the number of payrolled employees falling -1k in August (vs. +30k expected). Furthermore, the unemployment rate over the three months to July rose from 4.2% to 4.3%, which is its highest level since September 2021. In response, investors moved to lower the odds of another hike from the BoE next week to 77.5%, which is the smallest chance of a September hike since early June.

Equities generally saw a weak performance yesterday, with the S&P 500 down by -0.57%, whilst Europe’s STOXX 600 also fell -0.18%. Tech stocks led the moves lower in the US, with the NASDAQ (-1.04%) and the “Magnificent Seven” (-1.52%) posting larger declines. That included Apple, which fell -1.71% after the company unveiled their new iPhone. The stock did partially recover late in the US session having traded -2.5% lower intra-day, and was actually a mid-ranking performer amid the “Magnificent Seven” by the end of the day (with Tesla the weakest at -2.23%). Staying with tech, Oracle (c.$300bn market cap) fell -13.5%, its’ worst day since 2002 after a cloud sales disappointment. On the other hand, energy stocks in the S&P 500 (+2.31%) were the biggest sectoral outperformer thanks to the latest rise in commodity prices. The Dow Jones index (-0.05%) and small cap Russell 2000 (+0.01%) were near flat.

Asian equity markets are softer this morning due to a sell-off in tech stocks. As I type, the Nikkei (-0.31%), Hang Seng (-0.14%), CSI (-0.66%), Shanghai Composite (-0.18%) and KOSPI (-0.12%) are edging lower. S&P 500 (-0.17%) and NASDAQ 100 (-0.13%) futures are also trading in the red.

In terms of data, producer prices in Japan rose +3.2% y/y in August (+3.3% expected), slowing from a revised +3.4% increase in the prior month.

Elsewhere, South Korea’s unemployment rate on a seasonally adjusted basis unexpectedly dropped to a record low of 2.4% in August from a level of +2.8% in July, thus putting pressure on the Bank of Korea to retain a hawkish bias.

There were a few other data releases out yesterday. One was the ZEW survey from Germany, where the current situation reading fell to a 3-year low of -79.4 (vs. -75.5 expected), but the expectations indicator ticked up to -11.4 (vs. -15.0 expected). Separately in the US, the NFIB’s small business optimism index fell to 91.3 in August (vs. 91.5 expected), ending a run of three consecutive increases in the measure.

To the day ahead now, and data releases include the US CPI print for August, along with UK GDP for July and Euro Area industrial production for July.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)/

US futures tentative pre-CPI while EGBs/Gilts react to sources & GDP – Newsquawk US Market Open

WEDNESDAY, SEP 13, 2023 – 06:35 AM

European bourses are in the red following the risk-off sentiment in APAC trade, US futures tentative pre-CPI
European autos saw brief marked outperformance on von der Leyen’s comments, though this has since pared
DXY is on a firmer footing with EUR & GBP softer while the PLN experienced marked appreciation after the Polish PM’s advisor spoke
EGBs softer after hawkish ECB sources while Gilts remain in the green after particularly soft growth data; USTs under marginal pressure pre-CPI/supply
Crude benchmarks are modestly firmer continuing Tuesday’s upside while metals are mixed/subdued as the USD remains resilient
Looking ahead, highlights include US CPI & supply

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

European bourses are in the red, Euro Stoxx 50 -0.8%, following on from risk-off sentiment seen in the Asian markets overnight.
Within Europe, sectors are primarily in the red featuring underperformance in Retail and Consumer Discretionary following earnings from Inditex while Auto names saw marked upside after von der Leyen’s announcement on Chinese EVs, though much of this has since pared.
Stateside, futures are marginally weaker with the general tone a tentative one ahead of the US CPI report, ES -0.1%; NQ & RTY in-fitting.
As a reminder, Asia-Pacific stocks were pressured following the tech-led declines on Wall St owing to the post-Apple event disappointment and with participants cautious ahead of the upcoming US CPI data.
Click here for more detail.

FX

The DXY is on a modestly firmer footing overall, but caged to a tight range above 104.50 in the run-up to the US CPI metrics later today.
EUR and GBP are modestly softer against the Buck whilst the GBP is modestly softer against the EUR following soft UK GDP data and hawkish ECB sources.
The antipodeans trade on either side of the spectrum, with the NZD resilient against the Buck following yesterday’s notable losses, whilst the AUD remains subdued by the woes in China alongside the broader cautious mood ahead of the US inflation metrics.
Substantial strength was seen in the Polish Zloty after the Polish PM’s Adviser said the PLN has weakened beyond the optimal level for Poland and added the optimal level for EUR/PLN is between 4.40-4.60 range.
Polish PM Adviser says the PLN has weakened beyond the optimal level for Poland; says optimal level for EUR/PLN is between 4.40-4.60 range; have the tools to ensure the PLN is at an optimal level.
PBoC set USD/CNY mid-point at 7.1894 vs exp. 7.2783 (prev. 7.1986)
Click here for more detail.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

EGBs are under modest pressure with participants skewing their expectations hawkishly following Tuesday’s late-doors ECB sources piece; BTP-Bund yield spread has hit multi-month highs as a result, though remains markedly shy of the YTD peak.
Gilts are firmer in contrast following particularly soft GDP data which has prompted a number of desks to trim their UK 2023 growth view, though a 25bp hike in September continues to be the base case from a market pricing perspective.
Stateside, USTs are a touch softer taking cues from the above EGB move with US participants entirely focused on the upcoming CPI release.
Click here for more detail.

COMMODITIES

Crude benchmarks are modestly firmer following the rally seen yesterday, which resulted in the contracts settling higher by around USD 1.50/bbl apiece.
The weekly Private Inventory data proved to be bearish, with builds seen in headline crude stocks; following on from bullishly-received OPEC OMR and subsequent Brent oil price forecast upgrade via the EIA.
Spot gold is subdued amid the firmer Dollar, but the yellow metal’s prices remain north of USD 1,900/oz and in a tight range in the run-up to the US CPI report, with the 21 DMA to the upside at USD 1,916.44/oz while downside levels include yesterday’s low of USD 1,907.62/oz.
Base metals meanwhile now trade relatively mixed and with the breadth of the market narrow as markets await the US CPI data, 3M LME copper is back towards the session highs above USD 8,400/t after finding a floor near USD 8,350/t overnight.
US Energy Inventory Data (bbls): Crude +1.2mln (exp. -1.9mln), Gasoline +4.2mln (exp. +0.2mln), Distillate +2.6mln (exp. +1.3mln), Cushing -2.4mln.
All Libyan eastern oil ports have reopened following a shutdown on September 9th due to a storm, via the port agent.
Hungarian Farm Minister Nagy says they have agreed on a unilateral extension of the import ban on Ukrainian grains beyond September 15th, agreement with Romania, Slovakia and Bulgaria. Ban will be imposed on a broader range of products.
IEA OMR: Maintains 2023 and 2024 global oil demand growth forecast steady; says extension of oil-output cuts by Saudi and Russia will lock in a substantial market deficit through Q4 2023; OPEC+ cuts tempered by sharply higher Iranian oil flows. Click [here](IEA OMR: Maintains 2023 and 2024 global oil demand growth forecast steady; says extension of oil-output cuts by Saudi and Russia will lock in a substantial market deficit through Q4 2023; OPEC+ cuts tempered by sharply higher Iranian oil flows) for more detail.
Click here for more detail.

NOTABLE US HEADLINES

The US government is reportedly looking to offload almost USD 13bln of mortgage bonds it amassed from Silicon Valley Bank and Signature Bank following the collapse of the lenders,** according to Bloomberg.
China’s Foreign Ministry says China has not issued a ban on the purchase and use of foreign brands of phones such as Apple’s (AAPL) iPhone; hope all firms operating within China strictly abide by data security law. Subsequently, China says it has noticed “some” security incidents with regards to Apple (AAPL) iPhones, via Bloomberg citing the daily press briefing.
Apple (AAPL) says it has provided French ANFR representatives with multiple Apple/independent lab results confirming its compliance re. iPhone 12 radiation levels.
Click here for the US Early Morning Note.
Click here for the US CPI preview.

NOTABLE EUROPEAN HEADLINES

ECB’s new 2024 inflation projection is to be above 3% vs. 3% in June, firming the case for an interest rate hike, according to Reuters sources. Furthermore, the ECB is to cut its 2023 and 2024 economic growth projections to be broadly in line with market expectations, while a source said the rate decision is still a close call and formal proposals for the meeting have not yet been presented. Market pricing now ascribes a ~79% chance of a 25bps hike at Thursday’s meeting vs. ~50% in recent sessions.
European Commission President von der Leyen says global markets are flooded by cheaper Chinese EVs, saying Chinese EV prices are kept artificially low by subsidies. Commission to begin an anti-subsidy investigation into Chinese EVs. Subsequently, reported that EU Commission President von der Leyen conveyed the bloc’s concerns re. China’s EV trade practices to Chinese Premier Li Qiang alongside the G20, via FT citing sources.
JP Morgan cuts UK 2023 GDP growth forecast to 0.4% (prev. 0.6%); Goldman Sachs cuts UK 2023 GDP growth forecast to 0.3% from 0.5%
German Economy Ministry reports say early indicators point to subdued development of private consumption in coming months; current indicators point to weak Q3; noticeable economic recovery to be seen at the turn of the year 2023-24 at the earliest.
Germany is to revise its 2023 GDP outlook to a contraction of up to 0.3%, according to Bloomberg.

NOTABLE EUROPEAN DATA

UK GDP Estimate MM (Jul) -0.5% vs. Exp. -0.20% (Prev. 0.50%); “This is the first month since June 2022 that all three sectors contributed negatively to GDP on the month.”
All of the main sectors fell in July 2023. Output in the services sector fell by 0.5% and was the largest contributor to the fall in monthly GDP; production output fell by 0.7% and construction output fell by 0.5%. This is the first month since June 2022 that all three sectors contributed negatively to GDP on the month.
UK GDP Est 3M/3M (Jul) 0.2% vs. Exp. 0.30% (Prev. 0.20%); YY (Jul) 0.0% vs. Exp. 0.40% (Prev. 0.90%).
EU Industrial Production MM (Jul 2023) -1.1% vs. Exp. -0.7% (Prev. 0.5%, Rev. 0.4%); YY (Jul 2023) -2.2% vs. Exp. -0.3% (Prev. -1.2%, Rev. -1.1%)

GEOPOLITICS

Russian-installed Governor of Sevastopol said Ukraine launched an air attack on Sevastopol in Crimea, while the air attack sparked a fire at Sevastapol’s shipyard and 24 people were injured, according to Reuters.
Russian President Putin and North Korean leader Kim met at the Vosotchny Cosmodrome for talks. Russian President Putin responded that it is why they have come to the Vostochny Cosmodrome when asked if Russia will help North Korea build satellites, while he added that they will discuss all issues and that North Korean Leader Kim is showing a big interest in Russian rocket equipment.
Romanian Defence Ministry says elements of possible drone found on Romanian territory (NATO).
North Korea fired projectiles believed to be ballistic missiles which landed outside of Japan’s exclusive economic zone, according to NHK citing the Japanese Coast Guard.
Taiwan’s Defence Ministry said 28 Chinese military aircraft entered Taiwan’s air defence zone on Wednesday morning and some Chinese aircraft crossed the Bashi channel to carry out drills with Chinese carrier Shandong, while it also showed a picture of a Taiwanese warship shadowing the Shandong.

CRYPTO

Bitcoin is firmer on the session but remains within prior WTD boundaries. BTC has eclipsed the USD 26k mark with gains of around half a percent, though is shy of yesterday’s USD 26.53k best.
Binance US reduced staff and its president departed, according to The Block.

APAC TRADE

APAC stocks were pressured following the tech-led declines on Wall St owing to the post-Apple event disappointment and with participants cautious ahead of the upcoming US CPI data.
ASX 200 declined as tech stocks mirrored the underperformance seen in US counterparts and with nearly all sectors on the retreat aside from energy and utilities after further upside in oil prices.
Nikkei 225 swung between gains and losses with early advances seen following mixed PPI data and the improvement in BSI large industry surveys, although the index eventually slipped with money markets now pricing the BoJ to exit negative rates in January compared to a previous pricing of an exit in September next year.
Hang Seng and Shanghai Comp were initially kept afloat amid strength in the energy names and with developers underpinned as some cities further loosened restrictions for the sector, but then conformed to the soured mood.

NOTABLE ASIA-PAC HEADLINES

China will extend tariff exemptions for imports of some US products until April 30th, 2024.
Japanese Finance Minister Suzuki said PM Kishida asked him to stay on in the current job in the cabinet reshuffle, while he added that they need to respond appropriately to market moves and will decide on the size and content of the new economic package from now on, according to Reuters.
PBoC will support prices to rise moderately, and will pay close attention to the effect of financial policies, via Central Bank Publication. Will strengthen the guidance of expectations.

DATA RECAP

Japanese Business Survey Index Large Manufacturing (Q3 2023) 5.4% (Prev. -0.4%); All Industry (Q3 2023) 5.8% (Prev. 2.7%)
Japanese PPI MM (Aug) 0.3% vs. Exp. 0.1% (Prev. 0.1%); YY (Aug) 3.2% vs. Exp. 3.2% (Prev. 3.6%)

2 c. ASIAN AFFAIRS

WEDNESDAY MORNING/TUESDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

//NORTH KOREA/CHINA/RUSSIA

END

2e) JAPAN

JAPAN

3 CHINA /

CHINA/

END

4.EUROPEAN AFFAIRS//UK /SCANDAVIAN AFFAIRS

POLAND/UKRAINE/EU

Poland continues to act responsibly by blocking Ukrainian grain and they will continue to do so whatever the EU decides. This is to protect its farmers!

(ReMix)

Poland Will Continue To Block Ukrainian Grain Whatever The EU Commission Decides

WEDNESDAY, SEP 13, 2023 – 03:30 AM

Via Remix News,

Poland signals it will issue a decree stopping the export of Ukrainian grain to Poland should the European Commission refuse to extend the embargo beyond Sept. 15…

Poland would not hesitate to issue an order to block the import of Ukrainian grain if the European Commission refused to extend the grain embargo on Ukraine, according to Polish Development Minister Waldemar Buda.

Currently, the European Commission has given the green light to five EU member states who have placed a grain embargo on Ukraine, but Buda said during an interview with public radio PR 24 that he feared the EU commission was likely to end the embargo.

Nevertheless, the Polish government indicates it cannot allow Ukrainian grain imports at a time when Polish farmers have just completed their harvest and need to sell their produce. The grain embargo on Ukrainian products containing wheat, corn, rapeseed, and sunflower imposed by Poland, Bulgaria, Hungary, Romania and Slovakia was agreed by the European Commission at the beginning of May. It was to last until June but was extended by the EU commission until Sept. 15.

Buda confirmed that the transit of Ukrainian grain into other EU states or to the countries of Africa and the Middle East would continue without interruption, and this effort would receive support and encouragement from Poland.

The “solidarity corridors” backed by the European Commission would continue so that grain could flow to places around the world that need it, as these countries do not have the capacity to produce the grain themselves.

In July, Polish Prime Minister Mateusz Morawiecki warned that if the European Commission does not extend the grain embargo on Ukrainian grain until the end of the year, Poland will have to close its border to the import of these goods from Ukraine. All the agriculture ministers from the five neighboring states have recently reaffirmed their support for the embargo to continue.

As Remix News also reported, Hungary will also continue to block Ukrainian grain, regardless of what the European Commission decides.

END

ITALY//MIGRANTS

ROBERT H TO US:

Disclose.tv on X: “NEW – Italy’s Lampedusa island is hit with record migrant arrivals: 5,000 people arrived in 112 boat landings today — RAI https://t.co/FIfn6nBDHY” /

Insanity.

NEW – Italy's Lampedusa island is hit with record migrant arrivals: 5,000 people arrived in 112 boat landings today — RAIpic.twitter.com/FIfn6nBDHY
— Disclose.tv (@disclosetv) September 12, 2023

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE//USA

Blinken now OKs attacks on Russia using USA missiles

(DeCamp/Antiwar.com)

Blinken OKs Attacks On Russia With US Missiles

TUESDAY, SEP 12, 2023 – 04:45 PM

Authored by Dave DeCamp via AntiWar.com,

Secretary of State Antony Blinken said at the start of this week that it was up to Ukraine whether or not to target Russian territory with US-provided weapons, a policy that brings the US and Russia closer to a direct clash.

Blinken made the comments after ABC News reported that it’s likely the Biden administration will soon arm Ukraine with Army Tactical Missile Systems (ATACMS), which have a range of up to 190 miles.

While appearing on ABC’s ‘This Week,’ Blinken was asked if he was OK with Ukraine using ATACMS to hit targets deep inside Russian territory.

Here was the Secretary of State’s response:

“In terms of their targeting decisions, it’s their decision, not ours,” Blinken replied.

When asked about the increasing Ukrainian drone attacks inside Russia, Blinken claimed the US does not “encourage” or “enable” the operations. However, The Economist recently reported that Ukrainian drone attacks on Russia frequently use intelligence gathered by Kyiv’s Western backers.

ABC reviewed: “With a range of up to 190 miles, depending on the version, deploying ATACMS could allow Ukraine to reach targets nearly four times further away than with the currently-provided rockets for its U.S.-made High Mobility Artillery Rocket Systems and M270 multiple-launch rocket systems.”

As the war has dragged on, the Biden administration has been less and less concerned about the risk of Ukrainian attacks inside Russia escalating the war. The administration previously feared that Russia could respond to such attacks by targeting a NATO country.

The US has also brushed off Russian warnings against providing Ukraine with longer-range missiles, as Moscow has previously called them a “red line.” According to a US official speaking to ABC, the ATACMS “are coming.”

END

RUSSIA/UKRAINE

Direct hit on Russia big navy port in the Crimea: Sevastopol

(zerohedge)

Russia’s Navy Port At Sevastopol On Fire After Massive Ukraine Missile Attack

TUESDAY, SEP 12, 2023 – 11:21 PM

In the overnight and morning hours of Wednesday (local time) a major attack has ensued on Russia’s key Black Sea naval port of Sevastopol. Multiple social media videos emerged showing massive blazes at the Sevastopol shipyard, with possible deaths, and at least 24 people being reported injured.

Initial reporting in Reuters and CNN strongly points to a missile attack, based on statements by Sevastopol governor Mikhail Razvozhaev, who said “Our enemies attacked Sevastopol” and that “The air defense was at work.”

#War At the Sevastopol Shipyard, 24 people were injured from the night attack of the APU, 4 of them in serious condition. pic.twitter.com/qNPvE55MBt— Capt(N) (@Capt_Navy) September 13, 2023

The precise location of the large fire is the Kilen-Balka area of Sevastopol. Reuters reports that “A Ukrainian air attack early on Wednesday sparked a fire at the Sevastopol Shipyard in Crimea, injuring at least 24 people, the Russia-installed governor of Sevastopol, Mikhail Razvozhayev, said on the Telegram messaging app.”

At least four of the injured have been reported as being in “serious condition”.

Initial and unconfirmed social media photographs show what appears to be a direct hit on one or more military vessels docked at the naval port.

The aftermath of the attack was captured from multiple angles, appearing to confirm significant damage to ships and port infrastructure…

Open source analysts are already suggesting that at least one docked Russian submarine may have been taken out in the attack.

An assault of this size is indeed likely more than just the work of drones; instead Ukraine probably utilized long-range missiles supplied from Western NATO partners.

Currently, the Biden administration is moving toward supplying Kiev with either ATACMS or GMLRS missiles. These are long-range systems and the administration was previously reluctant to supply them on fear of direct escalation with Russia.

Huge initial fireball was captured by local residents…

But this massive attack on Sevastopol seems another act of desperation. Given the failing counteroffensive, it looks like Kiev is “going big” on attacks against Russian territory, in hopes of sparking a broader conflict that draws NATO in, which Ukraine likely sees as its only hope.

One more item of note, presented with no commentary. On the day Elon Musk’s biography drops, amid mainstream media’s desperate spin of the SpaceX founder’s interference with Starlink in Ukraine, there was a major, global, outage of the satellite internet service…

Source: DownDetector.com

SpaceX acknowledged the Starlink outage on X at 2033ET, and then wrote at 2139ET on X that “The network issue has been fully resolved.”

end

END

6.GLOBAL ISSUES//MEDICAL ISSUES

end

GLOBAL VACCINE/COVID ISSUES

murderers!

(zerohedge)

CIA Bribed Analysts To Change Lab-Leak Conclusions: ‘Senior-Level’ Whistleblower

TUESDAY, SEP 12, 2023 – 01:45 PM

A ‘senior-level’ CIA whistleblower has come forward to allege that the agency bribed analysts to change their opinion that Covid-19 most likely originated in a lab in Wuhan, China, according to the NY Post.

The whistleblower told House committee leaders that his agency ‘ tried to pay off six analysts who found SARS-CoV-2 likely originated in a Wuhan lab if they changed their position and said the virus jumped from animals to humans,’ according to a Tuesday letter from the chairmen of two House subcommittees investigating the pandemic response and US intelligence, Brad Wenstrup (R-OH) and Mike Turner (R-OH).

The pair have requested all documents, communications and pay info from the CIA’s Covid-19 Discovery Team by Sept. 26.

“According to the whistleblower, at the end of its review, six of the seven members of the Team believed the intelligence and science were sufficient to make a low confidence assessment that COVID-19 originated from a laboratory in Wuhan, China,” reads the letter from the House panel chairmen.

“The seventh member of the Team, who also happened to be the most senior, was the lone officer to believe COVID-19 originated through zoonosis.

“The whistleblower further contends that to come to the eventual public determination of uncertainty, the other six members were given a significant monetary incentive to change their position,” the letters continue, adding that the analysts were “experienced officers with significant scientific expertise.”

Wenstrup and Turner also asked for documents and communications between the CIA and other federal agencies, including the State Department, FBI, the Department of Health and Human Services and the Energy Department.

In a separate letter, the House committee leaders identified former CIA Chief Operating Officer Andrew Makridis as having “played a central role” in the COVID investigation and asked him to sit for a transcribed interview. -NY Post

In June, the US Intelligence Community declassified a 10-page report on COVID origins, in which it found “biosafety concerns” and “genetic engineering” taking place in Wuhan, but that most of its “agencies assess that SARS-CoV-2 was not genetically engineered.”

As the Post points out, however, several scientists at the WIV fell ill in late 2019 with symptoms “consistent with but not diagnostic of COVID-19,” according to the intelligence report, which concluded that the CIA and another intelligence agency “remain unable to determine the precise origin of the COVID-19 pandemic, as both hypotheses rely on significant assumptions or face challenges with conflicting reporting.”

Pushback

Not all former US intelligence officials agree with the declassified report – such as former DNI John Ratcliffe, who told Congress that the “lab leak theory” was the “only” credible explanation for the pandemic.

“My informed assessment as a person with as much access as anyone to our government’s intelligence … has been and continues to be that a lab leak is the only explanation credibly supported by our intelligence, by science and by common sense,” he told the House Select Subcommittee on the Coronavirus Pandemic in a hearing.

“If our intelligence and evidence supporting a lab leak was placed side by side with our intelligence and evidence pointing to a natural origins or spillover theory, the lab leak side of the ledger would be long, convincing, even overwhelming — while the spillover side would be nearly empty and tenuous,” Ratcliffe continued

-END-

This is big!!

(zerohedge)

Forensic Analysis Of Deaths In Pfizer’s Early mRNA Vaccine Trial Found Significant Inconsistencies

WEDNESDAY, SEP 13, 2023 – 02:45 AM

Authored by Megan Redshaw, JD via The Epoch Times (emphasis ours),

A group of researchers are calling into question Pfizer’s and BioNTech’s early trial data on its original COVID-19 vaccine after a forensic analysis revealed significant inconsistencies between data in the companies’ six-month interim report and publications authored by Pfizer/BioNTech trial site administrators.

The preprint, published on Sept. 4, showed trial subjects vaccinated with Pfizer’s COVID-19 vaccine experienced a 3.7 times increase in cardiovascular deaths compared to placebo controls—a “significant adverse event signal” not disclosed by Pfizer when the vaccine was authorized for emergency use. In addition, the analysis found numerous instances where Pfizer/BioNTech attributed potential vaccine-associated deaths to other causes and undermined vaccine safety data.

Clinical Trial ‘Cause of Death’ Unsupported by Documentation

Researchers assessed data from Pfizer’s original phase two/three clinical trial involving 44,060 subjects equally divided into two groups. One group received a dose of Pfizer’s COVID-19 vaccine, and the other received a placebo. As part of their analysis, researchers reviewed the cause of death forms (CRFs) of 38 trial subjects who died during the study period from July 27, 2020, to March 13, 2021, the end date of the clinical trial.

They found that 14 of the 38 deaths—more than one-third of deaths—resulted from cardiovascular events, accounting for the difference between the 21 deaths in the vaccination arm compared to the 17 deaths in the placebo arm. In numerous cases, researchers found that documentation did not support the cause of death diagnosis or allow one to rule out the possibility of a cardiovascular event with an autopsy.

“In general, our review of the CRFs found them to be lacking in detail and extremely difficult to interpret and develop a good timeline of events,” researchers wrote. “Often, a subject’s pre-trial clinical history was absent. Absent also were results of the extensive array of medical testing carried out at the pre-trial screening and at other regularly scheduled visits.”

Absent test results included complete blood counts, metabolic tests, pregnancy tests, COVID-19 tests, a comprehensive list of active medications, and other tests that would have provided clarity on a subject’s overall health. Although more detailed clinical data on the trial subjects exists, the researchers said it is being withheld. Given the limitations of what Pfizer provided, the researchers said the information in the CRFs was often insufficient to support the investigator’s conclusions regarding the cause of death.

The researchers also noted frequent communications between Pfizer/BioNTech physicians and trial site medical staff about the CRFs, some of which were over 400 to 900 pages.

Pfizer Used Earlier Data Cutoff and Unblinded Control Group

According to the analysis, Pfizer excluded the 38 deaths from information provided to the U.S. Food and Drug Administration (FDA) during its December 2020 meeting where its vaccine advisory panel was considering whether to authorize the Pfizer/BioNTech vaccine for emergency use.

When Pfizer/BioNTech submitted its application for Emergency Use Authorization (EUA) on Nov. 20, 2020, to the FDA, the application described clinical trial results using a cutoff date of November 14, 2020, even though the end date of the trial was March 13, 2021. Researchers said the earlier cutoff date concealed mortality data from the clinical trial.

“Both Pfizer presenters and the FDA committee failed to ask for and review deaths that occurred in the clinical trial participants after the data cutoff. As a result, they missed a more than three-fold increased risk of cardiovascular death with the Pfizer-BioNTech COVID-19 vaccine,” cardiologist Dr. Peter McCullough told The Epoch Times in an email.

“If the FDA presentation with core slides had been presented with accurate, updated data, the Pfizer COVID-19 vaccine should not have been approved because of safety concerns,” he added.

Twenty weeks into the clinical trial on Dec. 11, 2020, Pfizer’s COVID-19 vaccine received EUA from the FDA, and the agency allowed Pfizer to unblind its control group. Unblinding occurs when study participants are told whether they received a vaccine or a placebo, and placebo subjects are permitted to get vaccinated. All but a few chose to receive the vaccine.

COMMOTIO Cordis my as*! Something stinks to high heavens as to Buffalo Bills NFL player Dama Hamlin who died on the field with cardiac arrest (10 minutes CPR), cleared, now INACTIVATED! DECEPTION!!!

IMO, this is likely vaccine-induced myocarditis or similar heart damage they have moved to cover up! Hamlin can die if he plays, they know it! Other players at risk! McCullough weighs in, Leake too!

DR. PAUL ALEXANDERSEP 13

READ IN APP

Buffalo Bills Damar Hamlin (cardiac arrest on NFL field & we said mRNA vaccine related) cleared then placed on INACTIVE list Monday night Football Buffalo Bills NFL game! Why? There is MORE to this!

end

‘FDA approves new Covid boosters as cases rise around US; Moderna and Pfizer shots approved with vaccinations potentially beginning as soon as this week’; problems with this booster given i)not tested

on humans, a mice model ii)it is based on the XBB.1.5 spike while other variants dominate & thus immune escape, antigenic sin is inevitable iii)BA.2.86 not lethal iv)antibodies NOT a key outcome

DR. PAUL ALEXANDERSEP 12

READ IN APP

https://www.theguardian.com/us-news/2023/sep/11/new-covid-vaccine-booster-shot-fda-variants

‘The US has approved a series of Covid-19 booster vaccines amid rising cases of coronavirus around the country, the Food and Drug Administration (FDA) said on Monday.

END

We put vulnerable people on ventilators & KILLED them! In that too Trump was deceived, ventilators killed many people! Dr. Mike Yeadon is over the target again, with this MOAB haymaker! It’s never

appropriate, in a patient with an unobstructed airway & an intact chest wall to sedate, intubate and ventilate them. Mechanical ventilation has risks e.g. ventilator acquired pneumonia, lung injury

DR. PAUL ALEXANDERSEP 13

READ IN APP

‘It’s never appropriate, in a patient with an unobstructed airway & an intact chest wall to sedate, intubate and ventilate them.

Mechanical ventilation is certainly a marvellous, life-saving thing, but it comes with serious risks to the frail patient, in the form of ventilator acquired pneumonia, lung injury from use of pressure to inflate the lungs, and more.’

LIONESS OF JUDAH MINISTRY wonderful substack, educational as usual, support:

Exposing The Darkness

Dr. Michael Yeadon: A Message to a Trusted Friend, Who Is Struggling To Accept That What Is Happening Is Intentional

Exposing The Darkness is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. One-time or recurring donations can be made through Ko-Fi…

SLAY NEWS

The latest reports from Slay News

Top Health Official Warns Public Not to Take ‘Boosters’ Due to Safety Concerns Florida’s top health official, Surgeon General Joseph Ladapo, has issued a warning to the public over “red flags” about the safety of Covid “booster” shots.READ MORE

Top Climate Scientist Blows Whistle: Wildfires Are Caused by Humans, Not ‘Global Warming’A leading climate scientist has spoken out to reveal that “certain narratives” claiming “global warming” is causing an increase in wildfires around the world are false.READ MORE

Jan 6 Prisoner Says He Was Jailed for 22 Years after Refusing Biden DOJ’s Demand to Lie about Trump Proud Boys leader Enrique Tarrio says he received a staggering 22-year prison sentence in his Jan. 6 case because he refused to agree to demands from the Department of Justice (DOJ) to lie about President Donald Trump.READ MORE

Democrat Governor Bans Guns in New Mexico for ‘Public Health,’ Violating 2nd Amendment New Mexico’s Democrat Governor Michelle Lujan Grisham has signed an executive order to ban guns for 30 days, violating the Second Amendment rights of citizens in her state.READ MORE

Gov Kristi Noem Endorses Trump: ‘The Fighter That Our Country Needs’South Dakota’s Republican Governor Kristi Noem endorsed President Donald Trump’s re-election bid in the 2024 race.READ MORE

Top Fox News Executive Fired for Misconduct Fox News has fired one of the network’s longest-serving executives over allegations of misconduct.READ MORE

The latest reports from Slay NewsCIA Whistleblower Exposes Agency’s Cover-Up of Covid Origins A CIA whistleblower has spoken out to drop bombshell allegations about the intelligence agency’s efforts to cover up the origins of COVID-19.READ MORE Biden Vows to ‘Increase Number & Intensity of Extreme Weather Events’Democrat President Joe Biden has been accused of a “Freudian slip” after declaring during a speech that his administration is manipulating the weather.READ MORE Democrat Ghouls Celebrate Aaron Rodgers’ Season-Ending Injury on Social Media Former Packers star Aaron Rodgers ran onto the field on the 22-year anniversary of the horrific terrorist attack on September 11, 2001, carrying a massive American flag.READ MORE Kevin McCarthy Directs Jim Jordan to Open Formal Impeachment Inquiry into Biden Speaker Kevin McCarthy (R-CA) has just directed House Judiciary Committee Chairman Jim Jordan (R-OH) to officially open an impeachment inquiry into Democrat President Joe Biden.READ MORE Speaker McCarthy Changes Tune, Vows to Greenlight Biden’s Impeachment This Week Republican House Speaker Kevin McCarthy (R-CA) has suddenly changed his tune and vowed to greenlight Democrat President Joe Biden’s impeachment this week.READ MORE Biden’s FDA Authorizes New mRNA ‘Booster’ Shots from Pfizer and Moderna Democrat President Joe Biden’s Food and Drug Administration (FDA) has just authorized the controversial new mRNA “booster” shots from Pfizer and Moderna for nationwide public use.READ MORE Biden Caught Lying in 9/11 Speech, Falsely Claims He Visited Ground Zero on Day after Attacks Democrat President Joe Biden has been caught telling a shameless lie during his address commemorating the 22nd anniversary of 9/11.READ MORE Major U.S Food Processing Plant Shut Down by Massive Explosion A major food processing plant in Illinois has been shut down after a massive explosion ripped through the facility.READ MORE Elon Musk Calls on Reporters to Find Out If Epstein’s ‘Pedophile Island’ Is Bill Gates’ ‘Favorite’Twitter/X boss Elon Musk has issued a call to action for reporters to find out whether Microsoft co-founder Bill Gates visited Jeffrey Epstein’s notorious “Pedophile Island.”READ MORE Elon Musk Accused of Suppressing Links to New York Times on Twitter Elon Musk’s Twitter/X has been accused of suppressing links to the New York Times’s website on the platform, according to a new report.READ MORE Biden Admin Gloats of New Deal with Saudi Arabia on 9/11 Anniversary Democrat President Joe Biden’s administration has gloated about forging a new deal with Saudi Arabia on the 22nd Anniversary of the 9/11 attacks.READ MORE American Kids Turned Away from NYC Schools to Make Way for Illegals: ‘No More Room’Thousands of American children have been turned away from schools in New York City as districts make room for illegal aliens.READ MORE NYC to Slash Overtime Pay for Police to Fund Biden’s Migrant Crisis New York City is slashing overtime pay for police in an effort to fund the response to Democrat President Joe Biden’s migrant crisis.READ MORE

NEWS ADDICTS

Google Exec Warns AI Being Used to Engineer ‘Super-Pandemic’The billionaire co-founder of Google’s DeepMind artificial intelligence technology, Mustafa Suleyman, has warned the public that AI is being used for genetic engineering to trigger a “super-pandemic.”READ THE FULL REPORT

Florida Preschool Teacher Gloats She Teaches Her Students to be Gay Libs of TikTok shared a video montage of Florida preschool teacher DeDe Duffy.READ THE FULL REPORT

Radical Leftists Storm Kevin McCarthy’s Office, Conservatives Demand J6-Style ‘Insurrection’ Charges Activists took over Speaker of the House Kevin McCarthy’s (R-CA) office on Capitol Hill earlier Monday.READ THE FULL REPORT

EVOL NEWS

Housing market means nobody is buying sofas, furniture companies sayREAD MORE… LATEST NEWS:Google Exec Warns AI Being Used to Engineer ‘Super-Pandemic’Read more…ANDY NGO REPORTS: Portland business owner who promoted Antifa riots closes taproom, cites business decline in the cityRead more…BREAKING: Joe Biden Lies About Going To Ground Zero A Day After 9/11Read more…Dem candidate performed sex acts with her husband onlineRead more…Passenger plane crash-lands in Russia – media — RT Russia & Former Soviet UnionRead more…GOP Congressman Defends Biden, Claims There Is ‘No Evidence’ To Support ImpeachmentRead more…Virginia Democrat Candidate Streamed Sex Acts with Husband Online While Soliciting MoneyRead more…JUST IN: Trump Files Motion Calling On Judge Tanya Chutkan To Recuse Herself From Jan 6 Case Over Biased StatementsRead more…

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

“We Need To See Pain… Unemployment Has To Jump 40–50%”

WEDNESDAY, SEP 13, 2023 – 12:00 PM

By Benjamin Picton, Senior Macro Strategist at Rabobank

Concerns over price pressures have again been raised over the last 24 hours as we approach the release of the US CPI today. Again, this was most obvious in the crude oil market, where Brent continued its recent bull run to close above $92/bbl following the release of estimates from OPEC+ that the world faces a 3.3m barrel daily shortfall in the final quarter of the year (which echoed what Zerohedge said one week earlier).

One week before OPEC https://t.co/7l8jBsoCbd— zerohedge (@zerohedge) September 13, 2023

Front-month European gasoil futures managed to close above $1000/mt, the highest level since late January when the DXY Dollar index was trading around 102, compared to 104 today. This comes as European diesel imports are on track to hit the highest levels in 8 months.

While oil and diesel prices were hitting new highs, stocks headed lower. The S&P500 lost 0.57% and the more duration-sensitive NASDAQ was down more than 1%, despite 10-year Treasury yields actually pulling back slightly on the day. The German ZEW survey saw respondents a little more upbeat on the future prospects of the economy, but they ranked current conditions as being every bit as bad as they were during the Covid lockdowns (!) The US curve flattened as higher energy prices were priced into short-end yields, but moves in yields over the last few days have been relatively muted (albeit usually higher), so I think it’s fair to say that the market is sweating on the release of that US CPI report before it strikes out confidently in either direction.

The moves in commodity prices have not been lost on one of our favouite bears, Jeremy Grantham. The famed British hedge fund manager spoke virtually to a conference in Sydney yesterday, where he lived up to his billing by saying that US equities were in an AI hype-driven speculative bubble, the probability of a US recession is 70% and that he would be “very careful with real estate all over the world” given that a multi-decade bull market in bonds has driven valuations to “crushingly high multiples of family income”. Grantham singled out commodities as the investment bright spot by suggesting that we now live in a “world of shortages” and that “we are not going to be rolling in commodities ever again.” “We don’t have enough metal to green the world economy… we don’t have enough lithium, cobalt, nickel or copper.”

On the same day that Grantham was speaking, property developer Tim Gurner was also giving his two cents worth at a conference across town. Gurner sparked outrage on the platform formerly known as Twitter by saying that “unemployment has to jump 40 – 50 percent in my view. We need to see pain in the economy… We need to remind people that they work for the employer, not the other way around… Tradies have definitely pulled back on productivity. They have been paid a lot to do not too much in the last few years, and we need to see that change.”

https://www.zerohedge.com/markets/we-need-see-pain-unemployment-has-jump-40-50

Gurner is known for his controversial takes, but this was a doozy. He’s not Robinson Crusoe in his view though. Incoming RBA Governor Michele Bullock gave a speech back in June where she suggested that the unemployment rate needed to rise to around 4.5% (her estimate of the NAIRU) for inflation to stabilize. We also had some hawkish comments from the BOE’s Catherine Mann recently, where she said that she “would rather err on the side of over-tightening” and that “in my view, holding rates at the current level risks enabling further inflation persistence.” Mann’s comments provide an interesting contrast to Nick TImiraos contention in the Wall Street Journal over the weekend that Fed officials are now broadly happy to err on the side of doing too little, rather than too much.

Mann’s comments might have been timely given the release of the UK labour market report yesterday, which showed year-on-year average weekly earnings were up by 8.5% in July, well above the already spicy 8.2% predicted by the Bloomberg survey. Stefan Koopman, our Senior Macro Strategist covering the UK, released a piece on factor shares last week arguing that neither capital nor labour has the upper hand at present, and that a recession might be just the ticket to sort out the inflation problem. So, maybe Gurner wasn’t too far off the mark?

Whatever the case, animosity between capital and labor is clearly growing and we are seeing workers becoming increasingly assertive in demanding a greater share of the income pie. Who can blame them? As Jeremy Grantham points out, most of gains in labor productivity in recent times have found their way into the pockets of the wealthy, rather than the pockets of workers, and when you can’t buy even a modest home on a solidly middle-class salary, you start to suspect something might be crook.

You don’t have to look far for evidence of this animosity. 140,000 United Auto Workers union members are threatening strike action this week unless the big 3 Detroit automakers accede to their demands for higher pay and improved working conditions. The timing is awkward given the competition automakers face from cheap EVs imported from China, and the worries that central bankers have over cost-push inflation. But the union points to strong profitability in recent years and says it’s time for the companies to pay up. Similar potential strike action by employees on Chevron’s Wheatstone LNG facility in Northern Australia has been giving Dutch TTF natural gas prices palpitations in recent times as potential interruptions to supply work their way through an already tightly constrained global market. Clearly (some) workers now have a lot of leverage, and they are willing to use it to get a better deal.

While all of this is going on, the central Government in Australia is attempting to pass new legislation through the parliament dubbed ‘Same Job, Same Pay’ that is intended to curtail the practice of using labour hire firms to undercut wages, provide right of entry to workplaces for union officials and introduce employee-like wages and conditions for contractors in the gig economy. Business groups, naturally, are united in their condemnation of the proposed changes, but the people who should be most worried are central bankers like Bullock, who have inexplicably lowered their estimates of the NAIRU over the last few years despite clear signs (like this) that labor markets are becoming more rigid, not less. This is a risk I flagged earlier in the year here.

So, for the time being we wait to see what the US CPI report will bring. Are we going to see further price pressures in services? And if we do, will that mean that Nick Timiraos’ “Important Shift in Fed Officials’ Rate Stance’ is short-lived and that Loretta Mester and Catherine Mann have been right all along? Whatever the case, tensions between labor and capital will continue to simmer away.

end

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

end

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//BRICS

END

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

EURO VS USA DOLLAR: 1.0731 DOWN 0.0022

USA/ YEN 147.45 UP 0.287 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2468 DOWN 0.0023

USA/CAN DOLLAR: 1.3567 UP .0014 (CDN DOLLAR DOWN 14 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 13.99 PTS OR 0.45%

Hang Seng CLOSED DOWN 16.67 PTS OR .09%

AUSTRALIA CLOSED DOWN .77% // EUROPEAN BOURSE: ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL RED

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 16.67 PTS OR 0.09%

/SHANGHAI CLOSED DOWN 13.99 PTS OR 0.45%

AUSTRALIA BOURSE CLOSED DOWN 0.77%

(Nikkei (Japan) CLOSED DOWN 69.85 PTS OR 0.21%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1909.80

silver:$22.83

USA dollar index early WEDNESDAY morning: 104.43 UP 9 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.391% UP 4 in basis point(s) yield

JAPANESE BOND YIELD: +0.698% UP 0 AND 2//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.720 UP 4 in basis points yield

ITALIAN 10 YR BOND YIELD 4.445 UP 5 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.6530 UP 1 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.0739 DOWN 0.0014 or 14 basis points

USA/Japan: 147.49 UP .327 OR YEN DOWN 33 basis points/

Great Britain/USA 1.2489 DOWN 0.0002 OR 2 BASIS POINTS //

Canadian dollar UP .0016 OR 16 BASIS pts to 1.3536

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.2697

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2729)

TURKISH LIRA: 26.94 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.698…VERY DANGEROUS

Your closing 10 yr US bond yield UP 2 in basis points from TUESDAY at 4.281% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.358 UP 2 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 5.001 UP 0 BASIS PTS.

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

London: CLOSED DOWN 8.58 POINTS or 0.11%

German Dax : CLOSED DOWN 49.76 PTS OR 0.32%

Paris CAC CLOSED DOWN 22.11 PTS OR 0.30%

Spain IBEX DOWN 31.30 PTS OR 0.33%

Italian MIB: CLOSED DOWN 102.53 PTS OR 0.36%

WTI Oil price 88.47 12: EST

Brent Oil: 92.14 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 96.13; ROUBLE UP 1 AND 19//100

GERMAN 10 YR BOND YIELD; +2.6530 UP 1 BASIS PTS

UK 10 YR YIELD: 4.385 DOWN 8 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0729 DOWN 0.0023 OR 23 BASIS POINTS

British Pound: 1.2483 DOWN .0008 or 8 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.3775% DOWN 9 BASIS PTS//

JAPAN 10 YR YIELD: .698%

USA dollar vs Japanese Yen: 147,46 UP .301 //YEN DOWN UP 30 BASIS PTS//

USA dollar vs Canadian dollar: 1.3566 UP .0013 CDN dollar DOWN 13 basis pts)

West Texas intermediate oil: 88.61

Brent OIL: 91.93

USA 10 yr bond yield DOWN 2 BASIS pts to 4.244%

USA 30 yr bond yield DOWN 2 BASIS PTS to 4.331%

USA 2 YR BOND: DOWN 3 PTS AT 4.880 %

USA dollar index: 104.42 UP 8 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 26.94 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 96.22 DOWN 1 AND 29/100 roubles

GOLD 1908.45

SILVER: 22.82

DOW JONES INDUSTRIAL AVERAGE: DOWN 70,46 PTS OR 0.05%

NASDAQ UP 58.79 PTS OR 0.38%

VOLATILITY INDEX: 13.58 DOWN 0.65 PTS (4.57)%

GLD: $177.08 DOWN 0.41 OR 0.23%

SLV/ $20.93 DOWN 0.20 OR 0.95%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

Bonds & Big-Tech Bid After Soaring CPI, Banks & Black Gold Skid

WEDNESDAY, SEP 13, 2023 – 04:00 PM

US mortgage applications plunged to the lowest since 1996 this morning…

Source: Bloomberg

.but all anyone really cared about was CPI which had something for everyone in the goldilocks narrative: ‘hot‘ headline inflation, ‘cold‘ shelter inflation, ‘just right‘ core inflation… and also the little red riding hood narrative with ‘my what a big mouth you have‘ energy inflation.

Don’t forget, as Goldman noted, core CPI (ex-shelter) is expected to rise significantly for the rest of the year, because of Seasonality – Residual seasonality biased the summer inflation numbers lower. Look for travel related inflation to pick-up in particular; Health insurance – CPI’s health insurance component is due to reset sharply higher in October, when the CPI will use new data on health insurer profitability to determine the rate of monthly health insurance inflation for the next twelve months; and Services – We also expect upward pressure on core services ex-housing from health care and education services, where prices tend to lag the cost environment because both government-administered and private prices are reset infrequently. The higher cost of nurses and teachers is likely to flow through to higher fees for healthcare services and school.

The initial reaction to the CPI data pinned off the hot headline with yields spiking, stocks dropping, dollar spiking, and rate-hike expectations rising.

But that quickly faded.

Rate-hike odds for September (next week) collapsed to basically zero (2% odds of 25bps), November’s odds dipped to around 40% of a 25bps hike. Further out (June 2024) saw odds rising quickly of a rate-cut…

Source: Bloomberg

That sparked a major reversal in bonds (yields tumbled) and the dollar (dropped) as Nasdaq (longer duration stocks) rallied.

Selling pressure came back on after 1430ET (margin call time) and wiped any lipstick off today’s pig with Small Caps the biggest laggard (along with The Dow and S&P also red). The S&P bounced into the green by the close as Nasdaq led with modest gains…

Opening gains for banks were erased immediately and then some…

NFLX was pummeled after admitting its ad revenues were not material…

0-DTE traders saw very heavy negative delta flow, dominated by put-buying, which faded all the bounces in the underling S&P 500…

Source: SpotGamma

‘Most Shorted’ stocks were clubbed like a baby seal, erasing all the gains since late-August’s big squeeze…

Source: Bloomberg

Semis pumped and dumped today ahead of tonight’s ARM IPO (perhaps funding needs?)…

Source: Bloomberg

Treasuries were bid after some early weakness with the belly outperforming (2Y +4bps, 5Y +5bps, 30Y +2bps). NOTE the last two days have seen very narrow ranges and today took out the highs and lows of that range…

Source: Bloomberg

2Y Yields fell back below 5.00% again…

Source: Bloomberg

The dollar ended the day unchanged but traveled a lot on the way intraday…

Source: Bloomberg

Bitcoin also ended practically unchanged, holding above $26,000…

Source: Bloomberg

Oil joined the dollar and bitcoin in the ‘practically unchanged’ cohort. After topping $89.60 intraday, WTI slid back into the red very marginally…

Gold (spot) drifted lower but in a very small range and held above yesterday’s lows…

Source: Bloomberg

Finally, The Fed and The White House may have a problem in Q4. While inflation is top of mind today (and hotter than expected), it’s growth that also matters and Goldman expects the resumption of student loan payments, a potential temporary federal government shutdown, and reduced auto production from a potential UAW strike to slow US GDP growth in 4Q23.

We love the smell of stagflation in the morning…

USA TRADING TODAY: CPI//.6% M/M AND 3.7% FOR THE YEAR:

US CPI Surges More Than Expected In August

WEDNESDAY, SEP 13, 2023 – 08:41 AM

Following July’s rebound in headline CPI, August was expected to see that accelerate further (driven by surging energy prices and healthcare methodology changes).

Headline CPI rose 0.6% MoM (as expected), but pushed the YoY change to +3.7% (up from 3.2% prior and hotter than the 3.6% exp). That is the biggest MoM since June 2022…

Source: Bloomberg

Core CPI rose 0.3% MoM (more than the 0.2% expected) but the YoY declined to 4.3% (as expected) from 4.7% prior…

Source: Bloomberg

And perhaps most importantly, The Fed’s new favorite inflation signal – Core Services CPI Ex-Shelter surged 0.53% MoM (most since Sept 2022) and YoY remains above 4%…

Source: Bloomberg

Both Goods and Services inflation slowed (with the former at its lowest since July 2020). Services remains extremely hot though…

Source: Bloomberg

On a YoY basis, Energy deflation is helping (but less and less so)…

Source: Bloomberg

Turning from the cost of things to the ability to pay, ‘real’ wages

Source: Bloomberg

Is the over-optimistic view of the world heading for a disinflationary soft-landing about to crash on the shores of commodity’s reality island?

end

II USA DATA

Higher jet fuel prices cutting earnings forecast for the Airline industry

(zerohedge)

American Airlines Cuts Earnings Forecast As Headwinds Hit Airline Industry

WEDNESDAY, SEP 13, 2023 – 09:00 AM

American Airlines Group slashed its third-quarter earnings forecast, just two months after raising it. The surge in air travel post-pandemic is waning as fall approaches, with travelers becoming more cautious amid mounting economic headwinds. Spirit Airlines also warned Wednesday about an emerging slump in air travel.

Bloomberg data shows American Air’s cut in adjusted earnings per share guidance for the third quarter missed the guidance average estimate for Wall Street analysts.

Here’s a snapshot of the Third Quarter Forecast (provided by Bloomberg):

Sees adjusted EPS 20c to 30c, saw 85c to 95c, estimate 65c (Bloomberg Consensus)
Sees capacity about +6% to +7%, saw about +5% to +7%
Sees total revenue per available seat mile -5.5% to -6.5%, saw about -4.5% to -6.5%
Sees CASM ex-fuel +4% to +5%, saw about +4% to +6%
Sees adjusted operating margin about 4% to 5%, saw about 8% to 10%

As we noted on X, American Air hiked guidance only two months ago!

Shares of American Air dropped as much as 4% on the news. Its peers, including Delta, United, Southwest, JetBlue, Spirit, Frontier, and others, also fell on the news.

The S&P500 Airlines index never recovered from pre-Covid levels.

Bloomberg’s Lisa Abramowicz pointed out: “American Air cuts their earnings outlook. So does Spirit. Corporate expenses are increasing, consumer prices aren’t keeping up.”

Here’s more from Bloomberg on Spirit’s travel demand warning:

Spirit Airlines’ warning that it is seeing steep discounting for flights booked in the pre-Thanksgiving fall period is weighing on shares of bigger U.S. carriers. Shares of American Airlines, United Airlines and Delta Air Lines all fell by about 1% in premarket trading after the warning from Spirit, which also said it will fly less in the 3Q than previously anticipated. Investors are watching for signs that the post-pandemic travel boom is petering out after a summer packed with transcontinental vacations. Hotels and airlines have largely said leisure demand is returning to more typical seasonal trends, but that demand is broadly holding up.

There appears to be a cooling in global commercial passenger flights as jet fuel demand sinks from the summer peak.

TSA Security Checkpoint numbers are also sliding.

Maybe this is more evidence the consumer is cracking…

III) USA ECONOMIC STORIES

This changes the narrative of the magic bullet. Thus there were at least 2 shooters

(Jack Phillips/EpochTimes)

JFK Assassination Witness Breaks 60-Year Silence, Refutes Key Claim

TUESDAY, SEP 12, 2023 – 11:45 PM

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

A witness to the assassination of President John F. Kennedy spoke out for the first time in 60 years and refuted a key claim regarding the 1963 incident and a “magic bullet.”

Paul Landis, an 88-year-old former Secret Service agent, was just a few feet away from when President Kennedy was shot and killed in Dallas, Texas. At the time, he was assigned to protect Jackie Kennedy, the former first lady.

Mr. Landis, in a recent interview with the New York Times, cast doubt on the government-backed Warren Commission’s finding that a “magic bullet” struck and exited the president before it struck then-Texas Gov. John Connally Jr., a theory that has been the subject of criticism for decades and has helped fuel a range alternative theories about the former president’s assassination. Officially, the U.S. government and Central Intelligence Agency (CIA) has maintained that a lone gunman—Lee Harvey Oswald—was the sole perpetrator.

Based on discrepancies between things that he witnessed during the assassination and the Warren Commission’s report that investigated the president’s death, he said “I’m beginning to doubt myself” and that “now I begin to wonder.”

In the interview with the paper, published on Sept. 9, Mr. Landis recalled hearing multiple gunshots at Dealy Plaza in Dallas as he went behind President Kennedy’s limousine, seeing the president moving forward after being shot in the head. After the assassination, Mr. Landis recalled picking up what he called a near-perfect-condition bullet from the back seat of President Kennedy’s limousine, near where the president had been sitting.

The former agent then transported the bullet to the hospital where President Kennedy was taken and put on a stretcher to be examined. The reason why he took it is because he believed someone might pocket the bullet, which he did not describe in detail, as a keepsake.

Mr. Landis suggested in the interview that the reason why investigators believed that the “magic bullet” struck both the former president and the Texas governor, Mr. Connally, is because the bullet that Mr. Landis discovered was later found on a stretcher belonging to Mr. Landis. It wasn’t until the NY Times interview this week that Mr. Landis confirmed that it was he who found the bullet and placed it there.

He added that he did not believe the bullet went too deeply in President Kennedy’s back before, according to him, “popping back out” before he was removed from the limousine.

“It was a piece of evidence that I realized right away [was] very important,” Mr. Landis told the outlet. “And I didn’t want it to disappear or get lost. So it was, ‘Paul, you’ve got to make a decision’—and I grabbed it.”

After the incident, he recalled that “there was nobody there to secure the scene, and that was a big, big bother to me,” adding, “All the agents that were there were focused on the president.”

The paper quoted him as saying that it wasn’t until 2014 that he realized that the location of the bullet’s recovery that was cited by him was different than what was cited in the Warren Commission. He then checked with several officials but received skepticism, with officials saying he filed multiple written reports himself with the Commission decades ago.

According to the paper, Mr. Landis said he filed two separate reports with the Warren Commission and neither statement made reference to finding the near-perfect bullet or placing it on a stretcher. Instead, he reported only hearing gunshots. Mr. Landis said he was in a state of shock and hadn’t slept much when he filed the statements.

The Warren Commission has long dismissed claims that the bullet came from President Kennedy’s stretcher.

Explaining why he hasn’t spoken out for 60 years, the former agent said, “I didn’t want to talk about it.” He left the Secret Service months after the assassination. “I was afraid. I started to think, did I do something wrong? There was a fear that I might have done something wrong and I shouldn’t talk about it,” he said.

Historian James Robenalt, who helped work on Mr. Landis’s forthcoming memoir, said his eyewitness account raised the possibility of there being more than one gunman.

“If the bullet we know as the magic or pristine bullet stopped in President Kennedy’s back, it means that the central thesis of the Warren Report, the single-bullet theory, is wrong,” he told the NY Times.

Writing for Vanity Fair, Mr. Robenbalt posited that if the “magic bullet” didn’t hit both President Kennedy and Mr. Connally, there may have been a separate shot.

“The FBI recreation suggests that Oswald would not have had enough time to get off two separate shots so quickly as to hit Connally after wounding the president in the back,” he wrote. Mr. Oswald, according to officials, had used a bolt-action Carcano Model 38 infantry carbine.

Referring to his memoir, meanwhile, Mr. Landis said that “there’s no goal at this point. I just think it had been long enough that I needed to tell my story.”

END

VICTOR DAVIS HANSON…

end

USA// COVID//VACCINE/

end

SWAMP STORIES

RFK Jr. Telegraphs Threat To Abandon Democrat Party

WEDNESDAY, SEP 13, 2023 – 10:15 AM

Authored by Ben Bartee via PJ Media,

The Democrat Party has a latent disaster on its hand vis a vis one RFK Jr.

On the one hand, they are fully dedicated to sabotaging his campaign. Under no circumstances whatsoever will he be permitted to win the nomination.

Even if he had 80%+ support from the electorate, the sick truth is that party leadership (influenced by the consultant and donor classes) would rather lose with Brandon than win with RFK Jr. because of what he’s liable to do to the Deep State and D.C. largesse were he ever to assume office. It would be a proverbial bloodbath for the administrative state and all of the grifters who feed on it.

On the other hand, they need to keep RFK Jr. within the Democrat Party fold because if he were to go rogue and run third party — which he, frankly, should have been doing all along — it would be a veritable death knell for the Brandon entity’s prospects in 2024, which are wafer-thin as it is.

Whatever perceived threat Cornel West poses to Brandon’s re-election with his Green Party run, magnify that threat by 10x, 100x and you’re in the ballpark of what RFK Jr. would do to the party. It’s not outlandish to speculate that a strong third-party run by RFK Jr. might literally break the Democrat Party for years or possibly forever. That’s how sick of the party’s BS its own members, not to mention independents and non-voters (the largest, unserviced voting bloc in the country), are.

RFK Jr. has already proven himself nearly bulletproof from relentless Democrat Party and corporate state media attacks — arguably on the same level in this regard as “Teflon” Don.

Here is RFK Jr., in an interview with Forbes, explaining what elaborate lengths the Democrat Party has gone to to rig the primary against him, outright threatening that he might drop his intra-party bid and turn his campaign into a third-party run:

If the DNC is gonna make it, is gonna rig it so that it is simply impossible for anybody to challenge President Biden, and you know I need to look at other alternatives. Because I can’t go back to the people who support me, to my donors, and say you know, I’m just going to, I’m just in this to make a point, I need to show them a road to victory.

What is for now a threat — albeit apparently a sincere and credible threat — needs to be encouraged by everyone to evolve into reality.

RFK Jr. abandoning the Democrats would all but ensure a defeat of the Brandon entity — and a brutal, landslide one at that — in 2024, which can be nothing but good news for all Americans, even delusional, loyal Democrats who don’t understand their own self-interest.

https://www.zerohedge.com/political/rfk-jr-telegraphs-threat-vacate-democrat-party-plantation

THE KING REPORT

The King Report September 13, 2023 Issue 7074

Independent View of the News

House Speaker @SpeakerMcCarthy: I am directing our House committees to open a formal impeachment inquiry into President Joe Biden. Over the past several months, House Republicans have uncovered serious and credible allegations into President Biden’s conduct—a culture of corruption.
https://twitter.com/SpeakerMcCarthy/status/1701616470793547969

@disclosetv: Speaker of the U.S. House Kevin McCarthy announces a formal impeachment inquiry into Joe Biden. https://twitter.com/disclosetv/status/1701618095758926335

Fox’s @ChadPergram: McCarthy says Biden’s family has been offered “special treatment” by his administration. Says he’s directing House Cmtes to launch a formal impeachment inquiry. Will be led by Oversight Cmte Chair Comer, Judiciary Cmte Chair Jordan and Ways/Means Chair Smith.

Oracle Falls after Reporting Slower Growth in Cloud Sales
The shares declined as much as 10% in premarket trading… Cloud revenue, a metric that is closely watched by investors, jumped 30% to $4.6 billion in the period ended Aug. 31. Of that, $1.5 billion came from renting computing power and storage over the internet and $3.1 billion from applications. That cloud growth rate was slower than the 54% jump in the previous quarter…  https://finance.yahoo.com/news/oracle-falls-reporting-slower-growth-203308066.html

CoreLogic: US Annual Home Price Growth Rate Increased in July
U.S. home price gains moved up to 2.5% year over year in July, marking the 138th consecutive month of annual growth…The median sales price for a U.S. single-family home was $375,000 in July, led by California ($700,000), the District of Columbia ($670,000) and Massachusetts ($590,000)…
https://www.calculatedriskblog.com/2023/09/corelogic-us-annual-home-price-growth.html

WTI oil hit a 10-month high and Brent crude jumped above $90 on Tuesday due to an OPEC report that global oil markets face a supply shortfall of 3.3 million barrels a day for the next 3 months.

OPEC Data Show 3.3 Million-Barrel Shortfall as Saudis Extend Cuts
World oil inventories, having depleted sharply this quarter, are set for an even steeper drop of roughly 3.3 million barrels a day in the next three months, forecasts published in a report from OPEC indicated on Tuesday… https://www.bloomberg.com/news/articles/2023-09-12/opec-oil-data-show-3-million-barrel-supply-shortfall-as-saudis-extend-cuts

@chigrl: The structural integrity of the SPR is at stake, you cannot fully drain it without it collapsing. These are caverns deep underground. When you drain, you replace with brine water, soon all you will be able to pull up is brine water. The lower you get, the integrity of the oil itself is in question as well.

@ces921: Reminder that retail gasoline prices are at 10 year highs for this time of year. Cleveland Fed inflation nowcast looking for 0.8% mom for August CPI vs 0.6% survey and another 0.4% mom for September headline with upside bias as gasoline prices continue to trend higher. While there is expectation for a softer core reading, the hot headline inflation momentum will be top of mind again for consumers and will make it more difficult for the Fed’s tightening agenda. Expect them to push up the 2024 dots next week to price out more cuts and show more resolute intention to bring inflation down in a timely manner.   https://twitter.com/ces921/status/1701587012854153545

US companies opt for short-term debt in bet that yields have peaked – FT
Corporate bonds issued so far in 2023 have come with an average 10 years to maturity — the lowest figure in more than a decade… https://t.co/WaFoiX4f40

China Stock Traders Load Up on Leverage with New Rule Relaxation – BloombergMargin debt notched its biggest daily increase since 2020The increase pushed the total outstanding amount of margin debt to 1.5 trillion yuan (US$205 billion or RM962.32 billion). That’s still more than a third below the peak in 2015, when easy access to leverage fueled a stock market bubble before officials moved to contain it…
https://theedgemalaysia.com/node/682177

ESZs (December ‘Z’ is now the front month) declined moderately during early Nikkei trading and hit a bottom of 4529.75 at 21:40 ET. An A-B-C rally endured until the Chinese close at 2 ET; but ESZs remained in negative territory. ESZs declined after the 3 ET European open. They hit a bottom of 4525.50 at 5:33 ET. After a rally to 4532.75 at 6:32 ET, ESZs commenced a jagged decline that took ESZs to 4519.75 at 9:20 ET. Oracle’s 10% pre-NYSE open decline was the catalyst for the drop.

The Pump & Dump for the NYSE open then began. ESZs jumped to 4532.25 at 9:38 ET. The dump took ESZs to 4514.50 at 11:09 ET. The rally for the European close began; it morphed into a Noon Balloon.

ESZs soared after the Apple Event, the introduction of the iPhone 15, began. ESZs hit a daily high of 4539.00 at 13:24 ET. Apple introduced the Ultra 2 watch; but it only rallied modestly, from a low of 176.23 to 177.86 (-1.50) at 13:24 ET. The ‘dump’ for the Apple Event began at 13:44 ET.

Apple raises the price of the iPhone 15 by $100 to $1199 – BBG

Here’s everything Apple just announced at its 2023 event: iPhone 15 models, new Apple Watch, new AirPods   https://www.cnbc.com/2023/09/12/apple-event-2023-live-updates-iphone-15-new-apple-watch-9-expected.html

ESZs sank to 4519.75 at 14:20 ET; Apple fell to 174.82. After a modest rally, ESZs sank to a series of new daily lows. ESZs hit a bottom of 4507.25 at 15:27 ET. ESZs bounced to 4515.75 at 15:54 ET.

Positive aspects of previous session.
After another early decline in the US, conditioned traders bought stuff
An Apple Event Rally appeared
USZs were +10/32 at the NYSE close

Negative aspects of previous session
Oil rallied sharply; gasoline rallied moderately
Stocks sank early in the US and after the Apple Event; Apple declined 1.76%; Oracle plunged 13.49%

Ambiguous aspects of previous session
Will the BLS manage the August CPI Report?

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]: 4468.62
Previous session S&P 500 Index High/Low: 4487.11; 4456.83

Bill Gross Blasts Gundlach: To Be Bond King, You Need a Kingdom
“…look at his record for the last five, six, seven years” https://t.co/l37gUM1Wz9

BlackRock Closes China Equity Fund after Congressional Scrutiny
BlackRock is closing a China-focused offshore fund amid congressional scrutiny over its alleged role in directing U.S. dollars to blacklisted Chinese firms…
https://www.zerohedge.com/political/blackrock-closes-china-equity-fund-after-congressional-scrutiny

The FT: Xi Jinping’s G20 snub sparks concern of retreat from international diplomacy
“This is the first of potentially many international summits that Xi decides to skip because of diplomatic conflicts or domestic troubles,” said Neil Thomas, a fellow at the Asia Society Policy Institute’s Center for China Analysis…. https://t.co/p2dC7KzRzP

CCP-tied electric vehicle company awarded more than $500 million in taxpayer money for second US plant – Chinese executive says he hopes plant will bolster ‘economic and trade exchanges between China and the US’… Gotion Inc., whose parent company Gotion High-Tech is based in Hefei, China, unveiled plans to build a $2 billion lithium battery plant in Manteno, Illinois, alongside Democratic Gov. J.B. Pritzker, who cheered the project… the Illinois Department of Commerce & Economic Opportunity said Gotion’s total incentive package from the state is valued at $536 million in taxpayer funds…
https://www.foxnews.com/politics/ccp-tied-electric-vehicle-company-awarded-more-500-million-taxpayer-money-second-us-plant

@KeithMcCullough: US TREASURIES: China + Japan now holding just under 8% of the total, compared with a high of 25.4% in 2007.
    @Jkylebass: Keith, why would China be a net seller when they supposedly have a secret $3 trillion in shadow reserves (fat chance) and a $380 billion current account surplus? Why when US rates are the highest and our capital markets are the deepest in the world? The answer isn’t good.

@jenniferzeng97: Exclusive: Xi Jinping’s Purge of the Military System Intensifies, Leading to Arrests of Several Military Industry Executives. The apprehended executives are as follows:
1. Liu Shiquan (刘石泉), Chairman of China North Industries Group Corporation (link: https://en.wikipedia.org/wiki/Norinco)
2. Yuan Jie (袁洁), Chairman of China Aerospace Science and Industry Corporation
3. Chen Guoying (陈国瑛), General Manager of China North Industries Group Corporation
4. Tan Ruisong (谭瑞松), Former #CCP Secretary and Chairman of Aviation Industry Corporation of China. He was dismissed from his position in March 2023. These high-ranking officials from military enterprises have been detained by the CCP’s Central Commission for Discipline Inspection. It is anticipated that more individuals related to this matter will be implicated.

@GenFlynn: These type purges usually mean a complete loss of trust or worse, some potential collusion and/or corruption among and between these high ranking and senior officials. This also signals to other civilian CCP officials and other senior ranking military they could be next.
    These threats do not build loyalty to the “king”, they create distrust, disloyalty, inhibit freedom of thought and action, and cause morale problems that reverberate down through the ranks.

Researchers question one-size-fits-all COVID booster strategy as FDA circumvents advisors
Such experts also questioned whether updated jabs, based on receding Omicron subvariants, will meaningfully benefit Americans outside narrow ranges, if at all…
   Unlike flu shots, which are approved each year without randomized trials, most COVID vaccines are built on a novel platform and have “high complication rates” in some groups, Makary said, citing mainstream research…
    Over the weekend, critics noted the FDA greenlit Moderna’s next version of Spikevax — its non-EUA vaccine — for marketing while labeling it an “unapproved drug,” possibly as a defensive maneuver against litigation, two weeks ago. The agency defines unapproved as posing “significant risks to patients.” “This is typical obfuscation that we have seen for the Covid vaccines,” Yale University epidemiologist Harvey Risch told Just the News…
https://justthenews.com/government/federal-agencies/researchers-question-one-size-fits-all-covid-booster-strategy-fda

Select Subcommittee on the Coronavirus Pandemic @COVIDSelect: New testimony from a highly credible whistleblower alleges @CIA rewarded six analysts with significant financial incentives to change their COVID-19 origins conclusion from a lab-leak to zoonosis.
https://twitter.com/COVIDSelect/status/1701602948357505229

Income dropped, poverty soared under Biden: Census Bureau – Inflation soared 7.8% from 2021 to 2022, marking the largest single-year increase in cost of living since 1981…
   The Supplemental Poverty Measure (SPM) increased 4.6% in 2022 to reach 12.4%, marking the first overall increase in that metric since 2010. In total, 37.9 million Americans lived in poverty in 2022…
    Income, meanwhile, dropped across an array of metrics. Real median household income declined by 2.3% from $76,330 to $74,580, while real median earnings of all workers dropped 2.2%. The drop was less severe among full-time, year-round workers, who saw a 1.3% decline…
https://justthenews.com/nation/economy/income-dropped-poverty-soared-under-biden-census-bureau

Today – The August CPI Report will dictate pre and early NYSE trading. August CPI is expected to be 0.6% m/m are 3.6% y/y. Don’t be surprised if the BLS constructs a more benign CPI than warranted. Stocks should rally on an in-line or lower CPI than expected. However, the rally is unlikely to last for long. The market already expects no rate hike on September 20. A higher CPI than expected should harm stocks; it could hurt bonds even more.

4500 on the S&P 500 Index is strong resistance. Bulls need to push the index through 4500 to incite momentum buying. ESUs are +0.25 and USUs are -8/32 at 20:45 ET in quiet CPI-watch trading.

Expected econ data: Aug CPI 0.6% m/m & 3.6% y/y, Core 0.2% m/m & 4.3% y/y; Aug Budget -$230B

S&P 500 Index 50-day MA: 4480; 100-day MA: 4353; 150-day MA: 4247; 200-day MA: 4175
DJIA 50-day MA: 34,802; 100-day MA: 35,213; 150-day MA: 33,843; 200-day MA: 33,797
(Green is positive slope; Red is negative slope)

S&P 500 Index – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 3814.46 triggers a sell signal
Weekly: Trender and MACD are negative – a close above 4586.76 triggers a buy signal
Daily: Trender and MACD are positive – a close below 4431.22 triggers a sell signal
Hourly: Trender is positive; MACD is negative – a close below 4457.93 triggers a sell signal

@SteveGuest: Sen. Ted Cruz: “President Biden has established a secret nuclear deal with the Iranian regime that is being kept from Congress and the American people. Today’s news confirms there has already been a side deal including a $6 billion ransom and the release of Iranian operatives. Nevertheless these are only the barest outlines of the staggering concessions that Biden has already made and intends to make to the Ayatollah, including an additional $10 billion transfer and indeed hundreds of billions of dollars by not enforcing oil sanctions.”  https://twitter.com/SteveGuest/status/1701411615382421754

@GOPoversight: In 2018, Joe Biden publicly boasted about his central role in having Ukrainian prosecutor Viktor Shokin fired. By his own admission, Joe Biden said he made the removal of Prosecutor General Shokin – the man leading the investigation into Burisma, Hunter’s cash cow – a condition for Ukraine to receive a critical $1 billion loan guarantee.
    @RepJamesComer is requesting Secretary of State Antony Blinken to provide information on then-Vice President Biden’s sudden shift on Ukraine policy that just so happens to coincide with Hunter’s business interests.  https://twitter.com/GOPoversight/status/1701573963581698406
    A refresher on the timeline of events leading up to the firing of Ukrainian Prosecutor General Viktor Shokin:  https://twitter.com/GOPoversight/status/1701578537457631396?s=02

Internal emails show Biden admin officials coordinating on shielding Pete Buttigieg’s govt jet use
It’s becoming clear the ‘Biden administration is engaging in purposeful political meddling to protect Secretary Buttigieg,’ watchdog director tells Fox News Digital…
    In December, Fox News Digital reported that, based on flight tracking data, Buttigieg had taken 18 trips on an FAA-managed fleet of executive aircraft, reserved for government officials for occasions when flying commercial isn’t feasible. The flight records aligned with Buttigieg’s internal calendar obtained at the time by Americans for Public Trust…
https://www.foxnews.com/politics/internal-emails-show-biden-admin-officials-coordinating-shielding-pete-buttigiegs-govt-jet-use

Ron DeSantis tears into Biden for ‘stumbling around the world stage’ and says the President is ‘projecting weakness’ after latest gaffes in Vietnam https://t.co/ByLJmT5SXU

“Liars” & “Low IQ Lunatics”: Tucker Tears into Politicians’ “Betrayal of American Democracy”
“Most governments are run by a small group of people for their own benefit without reference to what the majority wants,” he says… “Take a look at the latest Gallup poll, pick a poll. What are the top 10 issues for people in the United States and then compare those to the priorities of your leaders.”…
https://www.zerohedge.com/political/liars-low-iq-lunatics-tucker-tears-politicians-betrayal-american-democracy

@CollinRugg: Tucker Carlson says Donald Trump is hated, not because he is “radical,” but because he can’t be controlled by the elites in charge. “If this were 1985, he’d be like a center left liberal. It’s not radical at all. That’s fascism.” “Are you joking? No, no. It has nothing to do with what he does. It has everything to do with the fact that for whatever reason, his brain is not entirely controlled by the people in charge.”  https://twitter.com/CollinRugg/status/1701591831585407078

@libsoftiktok: In response to Illinois passing a law against “book bans”, @SenJohnKennedy read from the pornographic book… Illinois Sec. of State responds by saying “those words are disturbing.” Disturbing for adults but totally ok for kids in IL schools! https://twitter.com/libsoftiktok/status/1701633982239236551

END

GREG HUNTER INTERVIEWING WESTON WARREN

Weston Scientific Combats Superspreader Covid19 Variant – Weston Warren

Weston Scientific Combats Superspreader Covid19 Variant – Weston Warren

By Greg Hunter On September 13, 2023 In Market Analysis4 Comments

By Greg Hunter’s USAWatchdog.com (Sponsored Post)

Scientist and inventor Weston Warren is briskly selling his germ killing and air purifying technology in the wake of global wildfires and a new CV19 variant. It took nearly 20 years to perfect this air scrubbing technology, and it works to combat all airborne contaminants. This includes the deadly spike proteins shed by “superspreaders” who took the CV19 bioweapon/vax.

Recent data says this new variant is coming from people who took the CV19 bioweapon vax and are now considered “superspreaders” of sickness. This bipolar ionic air purification kills germs, viruses and mold. Whether you are vaxed and shedding sickness or are unvaxed and being shed on by the vaxed, you need this tech for healthy clean air. Warren explains, “These are invisible scrubbing bubbles . . . . All it takes is one, and if you puncture a hole in the surface membrane in anything bacteria or virus, it is neutralized or dead or whatever term you want to use. This happens in a hundredth of a second. That’s how fast it is. These plasma ion clusters will poke 50, 100 or more holes in bacteria or virus. It’s like a shotgun. This is what we call a mechanical sterilization. It’s very effective because we are just sheering off the protein stems on the surface of the membrane, and when you sheer them off, it creates a tiny hole.”

Warren says his cutting-edge technology also neutralizes harmful chemicals in smoke, it works on allergens, pollen, mold and mildew. Warren says, “It is a multi-use technology. It covers so many aspects so you have a much better indoor air quality and an indoor surface quality environment. . . . . The water vapors break down into Co2. So, there is nothing toxic. What we are doing is mimicking nature. It’s the design of Earth. I attribute that to God, a divine source. The design is from our Heavenly Father. This is how nature cleans the atmosphere and surfaces. It’s done with thunderstorms. There is also natural ion generation in waterfalls and ocean waves. Ions are non-toxic to humans, plants or animals, but they are very effective scrubbing bubbles. We are basically creating an indoor thunderstorm without the rain.”

Warren has an announcement on how to upgrade your 1500 ion device to make it almost twice as powerful. He talks about units to install in your heating and air-conditioning system for residential or commercial applications. Warren also shows off his big wall mount unit that can deliver 7,000 square feet of bipolar ion cleaning.

There is much more in the 42-minute interview.

Join Greg Hunter as he goes One-on-One with Weston Warren, scientist and inventor of the “CarryiOn” air purifier and many other bipolar ion air purification products for 9.13.23

Weston Scientific Combats Superspreader Covid19 Variant – Weston Warren

After the Interview:

see you on THURSDAY