Shanghai Gold Benchmark Price

USD oz

AM2014.88

PM2017.06

NEW YORK PRICE AT THE SAME TIME: $1905.00

premium $112,00

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EXCHANGE: COMEX

CONTRACT: SEPTEMBER 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,900.400000000 USD
INTENT DATE: 09/26/2023 DELIVERY DATE: 09/28/2023
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 4
435 H SCOTIA CAPITAL 19
661 C JP MORGAN 7
690 C ABN AMRO 16
732 C RBC CAP MARKETS 13
737 C ADVANTAGE 1

TOTAL: 30 30
MONTH TO DATE: 4,895

JPMorgan stopped 7/30 contracts.

FOR SEPT.:

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2023. CONTRACT: 30 NOTICES FOR 3,000 OZ or 0.0933 TONNES

total notices so far: 4895 contracts for 489,500 oz (15.225 tonnes)

FOR SEPT:

SILVER NOTICES: 1 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 2694 for 13,470,000 oz

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END

GLD

WITH GOLD DOWN $8.99

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: / SMALL CHANGES/A WITHDRAWAL OF 0.31 TONNES OF GOLD OUT OF THE GLD/

INVENTORY RESTS AT 878.52 TONNES

Silver//

WITH NO SILVER AROUND AND SILVER UP 13 CENTS AT THE SLV// SMALL CHANGES IN SILVER INVENTORY AT THE SLV: : A WITHDRAWAL OF 0.641 MILLION OZ OF SILVER INTO THE SLV/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 448.392 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY GOOD SIZED 468 CONTRACTS TO 126,167 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS GOOD SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR HUGE $0.41 LOSS IN SILVER PRICING AT THE COMEX ON TUESDAY. TAS ISSUANCE WAS A STRONG SIZED 502 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: 502 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.41). BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A GIGANTIC SIZED GAIN OF 1758 OI CONTRACTS ON OUR TWO EXCHANGES.

WE MUST HAVE HAD:

A HUGE ISSUANCE OF EXCHANGE FOR PHYSICALS( 1290 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 14.420 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S QUEUE. JUMP OF 5,000 OZ//NEW TOTAL 13.470 MILLION OZ + OUR CRIMINAL ISSUANCE OF 0 EXCHANGE FOR RISK CONTRACTS//NEW TOTALS EXCHANGE FOR RISK: 3.0 MILLION OZ: NEW TOTALS SILVER STANDING: 16.470 MILLION OZ// /// / //GOOD SIZED COMEX OI GAIN/ GIGANTIC SIZED EFP ISSUANCE/VI) GOOD SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 502 CONTRACTS)/

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

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

TOTAL CONTRACTS for 16 days, total 12,612 contracts: OR 63.060 MILLION OZ (788 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 63.060 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: 63.060 MILLION OZ (SMALLER THIS MONTH)

RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 468 CONTRACTS DESPITE OUR LOSS IN PRICE OF $0.41 IN SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A GIGANTIC EFP ISSUANCE CONTRACTS: 1290 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 5,000 OZ QUEUE JUMP .+ 0 MILLION OZ EXCHANGE FOR RISK//PRIOR TOTAL FOR EXCHANGE FOR RISK = 3.0 MILLION OZ/TOTAL EXCH. FOR RISK /NEW TOTALS STANDING 16.470 MILLION OZ// /// WE HAVE A HUGE SIZED GAIN OF 1758 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 502 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION. THE NEW TAS ISSUANCE TUESDAY NIGHT (502) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 1 NOTICE(S) FILED TODAY FOR 5,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 123 CONTRACTS TO 437,004 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – REMOVED: –XX CONTRACTS

WE HAD A SMALL SIZED DECREASE IN COMEX OI ( 123 CONTRACTS) WITH OUR $9.00 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 7300 OZ QUEUE JUMP //NEW TOTAL STANDING 15.3779 TONNES + /A FAIR (AND CRIMINAL) ISSUANCE OF 924 T.A.S. CONTRACTS /// ALL OF..THIS HAPPENED WITH OUR $9.00 LOSS IN PRICE WITH RESPECT TO TUESDAY’S TRADING.WE HAD A STRONG SIZED GAIN OF 7992 OI CONTRACTS (24.858 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A VERY STRONG SIZED 8115 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 437,004

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7992 CONTRACTS WITH 123 CONTRACTS DECREASED AT THE COMEX// AND A VERY STRONG SIZED 8115 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7992 CONTRACTS OR 24,858 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 924 CONTRACTS)

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A VERY STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (8115 CONTRACTS) ACCOMPANYING THE TINY SIZED LOSS IN COMEX OI (123) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 7992 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR SEPT. AT 12.656 TONNES FOLLOWED BY TODAY’S QUEUE JUMP OF 7300 OZ/// 3) ZERO LONG LIQUIDATION BUT CONSIDERABLE TAS LIQUIDATION DURING THE COMEX SESSION //4) TINY SIZED COMEX OPEN INTEREST LOSS/ 5) VERY STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 924 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: 57,995 CONTRACTS OR 5,799,500 OZ OR 180.388 TONNES IN 16 TRADING DAY(S) AND THUS AVERAGING: 3624 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16 TRADING DAY(S) IN TONNES 180.388 TONNES

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

THUS EFP TRANSFERS REPRESENTS 180.388/3550 x 100% TONNES 5.59% 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: 180.388 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG 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 ROSE BY A GOOD SIZED 468 CONTRACTS OI TO 126,167 AND CLOSER TO 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 GIGANTIC 1290 CONTRACTS

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

DEC 700 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1290 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 468 CONTRACTS AND ADD TO THE 1290 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GIGANTIC SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1758 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 8.790 MILLION OZ

OCCURRED DESPITE OUR HUGE $0.41 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING//TUESDAY NIGHT

SHANGHAI CLOSED UP 5.04 PTS OR 0.16% //Hang Seng CLOSED UP 144.97 PTS OR 0.83%/ /The Nikkei CLOSED UP 56.85 PTS OR 0.18% //Australia’s all ordinaries CLOSED DOWN 0.12 % /Chinese yuan (ONSHORE) closed DOWN AT 7.3114 /OFFSHORE CHINESE YUAN DOWN TO 7.3170 /Oil UP TO 91.81 dollars per barrel for WTI and BRENT UP AT 95.18 / Stocks in Europe OPENED MOSTLY MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A TINY SIZED 123 CONTRACTS TO 437,004 DESPITE OUR STRONG LOSS IN PRICE OF $9.00 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 VERY STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 8115 EFP CONTRACTS WERE ISSUED: : DEC 8115 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 8115 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 7992 CONTRACTS IN THAT 8115 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A TINY SIZED LOSS OF 123 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR HUGE LOSS IN PRICE OF $9.00//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 THURSDAY NIGHT WAS A FAIR 924 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 (15.3779) ( 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: 15.3779 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $9.00) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG GAIN OF 7992 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A CONSIDERABLE 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 24.858 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 7300 OZ//NEW STANDING 15.3779 TONNES // ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $9.00.

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

NET GAIN ON THE TWO EXCHANGES 7992 CONTRACTS OR 799,200 OZ OR 24.858 TONNES.

Estimated gold volume today:// 209,956 poor/raid

final gold volumes/yesterday 177,376 poor

//speculators have left the gold arena

//SEPT 26/ /// THE SEPT. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	xxx
Withdrawals from Customer* Inventory in oz*	xxx OZ .
Deposit to the Dealer* Inventory in oz*	xxx
Deposits to the Customer* Inventory, in oz*	xxx oz
No of oz served (contracts) today	30 notice(s) 3000 OZ 0.0933 TONNES
No of oz to be served (notices)	49 contracts 4900 oz 0.1555 TONNES
Total monthly oz gold served (contracts) so far this month	4895 notices 489,500 OZ 15.132 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

xx dealer deposit:

total dealer deposits: xxx oz

customer deposits: xx

total customer deposits: xxx oz

we had xx customer withdrawals

total withdrawals xxx oz

Adjustments; xx

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER.

For the front month of SEPTEMBER we have an oi of 79 contracts having LOST 34 contracts. We had

107 contracts were served on TUESDAY, so we GAINED an additional 73 CONTRACTS or AN ADDITIONAL 7300 oz will stand for delivery in this non active delivery month of Sept

Oct LOST 4386 contracts to 14,322 contracts.

NOV GAINED 157 CONTRACTS to stand at 626

December GAINED 2506 contracts down to 376,887 contracts.

We had 30 contracts filed for today representing 3000 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 30 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 7 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 (4895 x 100 oz ), to which we add the difference between the open interest for the front month of SEPT (79 CONTRACTS) minus the number of notices served upon today 30 x 100 oz per contract equals 494,400 OZ OR 15.3779 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 (4895) x 100 oz + (79) {OI for the front month} minus the number of notices served upon today (30) x 100 oz) which equals 494,400 oz standing OR 15.3779 TONNES

TOTAL COMEX GOLD STANDING: 15.3779 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: 2,022,307.541 OZ 62.913 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 20,956,655.412 OZ

TOTAL REGISTERED GOLD 10,794,347.871 (335,74 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 10,252,307.541 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,681,689 OZ (REG GOLD- PLEDGED GOLD) 270.03 tonnes//dropping like a stone

END

SILVER/COMEX

SEPT 26

//2023// THE SEPT 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	xxx oz .
Deposits to the Dealer* Inventory*	xx
Deposits to the Customer Inventory	xx
No of oz served today (contracts)	1 CONTRACT(S) (5,000 OZ)
No of oz to be served (notices)	0 contracts (NIL oz)
Total monthly oz silver served (contracts)	2694 Contracts (13,470,000 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: xx

i) We had xx dealer withdrawal

total dealer withdrawals: xx oz

We had xx deposit customer account:

total customer deposit xxx oz

JPMorgan has a total silver weight: 136.312 million oz/270.652 million or 50.37%

Comex withdrawals xx

adjustments: xx

TOTAL REGISTERED SILVER: 39.481 MILLION OZ//.TOTAL REG + ELIGIBLE. 270.682 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:

silver open interest data:

FRONT MONTH OF SEPT /2023 OI: 1 CONTRACTS HAVING LOST 44 CONTRACT(S). WE HAD 45

CONTRACTS SERVED ON TUESDAY. SO WE GAINED 1 CONTRACT OR 5,000 ADDITIONAL OZ WILL STAND FOR SILVER AT THE COMEX..

OCT LOST 88 CONTRACTS TO STAND AT 572.

NOVEMBER GAINED 16 CONTRACTS TO STAND AT 208

DEC. GAINED 102 CONTRACTS TO STAND AT 112,440 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 for 5,000 oz

Comex volumes// est. volume today 50,656 poor

Comex volume: confirmed yesterday 58,626 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 2694 x 5,000 oz = 13,370,000 oz

to which we add the difference between the open interest for the front month of SEPT (1) and the number of notices served upon today 1 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the SEPT/2023 contract month: 2694 (notices served so far) x 5000 oz + OI for the front month of SEPT (1) – number of notices served upon today (1 )x 500 oz of silver standing for the SEPT contract month equates to 13.470 million oz. + 0 MILLION EXCHANGE FOR RISK..NEW TOTALS EXCHANGE FOR RISK: 3.0 MILLION OZ//NEW TOTAL STANDING FOR SILVER: 16.470 MILLION OZ//

There are 42.062 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

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 DOWN TO 7.3114

OFFSHORE YUAN: UP TO 7.3170

SHANGHAI CLOSED UP 5.04 PTS OR 0.16%

HANG SENG CLOSED UP 144.97 PTS OR 0.83%

2. Nikkei closed UP 56.85 PTS OR 0.18 %

3. Europe stocks SO FAR: MOSTLY MIXED

USA dollar INDEX UP TO 106.17 EURO FALLS TO 1.0540 DOWN 29 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +.725 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.20/JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

3e Gold DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN// OFFSHORE: DOWN

3f Japan is to buy INFINITE TRILLION YEN 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 +2.7785***/Italian 10 Yr bond yield UP to 4.691*** /SPAIN 10 YR BOND YIELD UP TO 3.861…**

3i Greek 10 year bond yield RISES TO 4.257

3j Gold at $1893.25 silver at: 22.80 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 17 /100 roubles/dollar; ROUBLE AT 96.54//

3m oil into the 91 dollar handle for WTI and 95 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 149.20// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.725% 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 0.9189 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9687well 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: 4.517 DOWN 5 BASIS PTS…

USA 30 YR BOND YIELD: 4.638 DOWN 6 BASIS PTS/

USA 2 YR BOND YIELD: 5.069 DOWN 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 27.30…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 1 BASIS PTS AT 4.3460

end

2.a Overnight: Newsquawk and Zero hedge:

USA EARLY MORNING REPORT

Futures Rebound After Tuesday Rout As Rates Drop

WEDNESDAY, SEP 27, 2023 – 08:18 AM

After Tuesday’s sharp rout, US equity futures are higher despite another slump in Asian markets and mixed European bourses, potentially setting up a relief rally as yields are lower with 10Y under 4.50% even as investors keep a close eye on the risk of a government shutdown and the Dollar keeps rising to the point where another Plaza Accord may be required.

As of 7:45am ET, S&P futures were 0.4% higher while Nasdaq futures rose 0.3%; on Tuesday the DJIA fell below its 200-day moving average, a technical signal that suggests the index has become oversold while the VIX retreated after hitting its highest level since May. Commodities are mostly higher with WTI back above $91, leading Energy. Today’s macro data focus is on durable goods and the 5Y Treasury auction ($49bn). Tomorrow we resume with Fed speakers and Friday’s PCE/Consumption data are the most impactful data points of the week.

In premarket trading, Costco fell 2% despite beating earnings estimates. The firm held back from commenting on the timing of its membership-fee increase, something Morgan Stanley sees as a slight disappointment. US cryptocurrency-related stocks rise in premarket trading while European peers also gain as Bitcoin jumps, halting a three-day losing streak. Bitcoin was up 2.5% at $26,790.63, as of 7:53 a.m. in New York.

Treasury yields slipped two basis points, backtracking from a 16-year high sparked by speculation the Federal Reserve will keep policy restrictive into next year, or longer. A gauge of the dollar traded near its highest this year. As Bloomberg notes, much rests on the bond market, which is guiding the direction for stocks and currencies, and ultimately the economy, according to Derek Halpenny, head of global markets research at MUFG Bank Ltd.

“If yields continue to move higher, at some point relatively soon we will see even larger equity market declines and a hit to the main engine of the US economy – the consumer,” Halpenny wrote in a note. “Falls in equity markets would impact expectations further and begin to impact consumers’ appetite to spend.”

As Bloomberg notes, US stocks are heading for their biggest monthly decline since December as investors worry the Fed would keep interest rates higher for longer at a time when economic growth is slowing. The Federal Reserve Bank of New York’s measure of how much bond investors are compensated for holding long-term debt turned positive for the first time since June 2021, suggesting traders are betting on elevated policy rates.

And in bad news for inflation, oil resumed its climb to $92 a barrel even as US consumer confidence has taken a knock from higher costs at the pump and the spreading impact of aggressive rate hikes. Consumer sentiment dropped to 103 from a revised 108.7 in August, missing the median estimate of 105.5 in a Bloomberg survey of economists.

Meanwhile, Senate Democratic and Republican leaders agreed Tuesday on a plan to keep the government open through mid-November and provide $6 billion in assistance to Ukraine. The plan to avert a shutdown on Oct. 1 still needs to overcome gridlock in the House.

European stocks are in the green, the Stoxx 600 is up just barely 0.1% and set to snap a four-day losing streak with technology, media and industrial names leading gains. Here are the biggest European movers:

Adyen shares gain as much as 8% after Barclays upgrades the stock to overweight from equal weight, saying the Dutch payment processor has potential for growth.
H&M shares rise as much as 6.8% after the Swedish apparel retailer reported third-quarter operating profit ahead of analysts’ estimates and announced a stock buyback. Morgan Stanley analysts called Wednesday’s update “better than feared.”
Ithaca Energy shares gain as much as 9.1% after the UK approved the Rosebank offshore development, despite objections from climate groups and pressure on the government to block the oil and gas field.
Logitech shares rise 4.3% after BNP Paribas Exane restarts coverage of the PC accessories maker at neutral, citing the potential benefit from a rebound in the gaming market and PC sales.
Roche shares gain as much as 3.4%, the most in over a month, after Citigroup opened a positive catalyst watch on the pharmaceutical giant, citing the potential for royalty upside from its antibody engineering technologies subsidiary Chugai.
Senior shares rise as much as 1.9% as the engineering products manufacturer receives a 12-year contract extension from Rolls-Royce, which Jefferies says is “helpful for sentiment.”
Helvetia shares gain as much as 1.4% after the Swiss insurer reported what ZKB termed “operationally robust” key numbers for 1H23, while saying the profit contribution from life insurance was slightly worse than expected.
Flutter Entertainment shares rise as much as 1.2% after the gambling operator announced the acquisition of a 51% stake in Serbia’s second-biggest omni-channel sports betting and gaming operator MaxBet for €141m in cash.
Voltalia shares slump as much as 18%, the most on record, as Morgan Stanley says even the new lower full-year Ebitda guidance will require a very strong performance in the second half.
NN Group shares plunge as much as 14% after a Dutch court ruling concluded that it shouldn’t have imposed certain costs and deductions on some unit-linked insurances. ASR Nederland falls as much as 9.4%.
Centrica drops as much as 5.3% after Morgan Stanley downgrades the British Gas owner to equal-weight, saying it is now approaching fair value following a strong run.
British Land falls as much as 2.9% and peers Derwent London, Great Portland and Land Securities all slid in early trading after Jefferies cuts its ratings on the four stocks, predicting offices to be the next major casualty in the real estate sector.

Earlier in the session, Asian equities declined, headed for a third-straight day of losses, as a bounce in Chinese stocks on strong economic data failed to offset investor concerns including higher US interest rates. The MSCI Asia Pacific Index declined as much as 0.6% before paring much of the loss, with industrials and financials the biggest drags. Stocks rose in Hong Kong and mainland China after data showed industrial profits for August grew at the fastest pace in at least a year. “There is quite a lot of negative sentiment and people are waiting to see good news before they are willing to jump in in China,” Alexander Treves, investment specialist at JPMorgan Asset Management, told Bloomberg Television. “There is just so much fear in the market, I think people are just nervous,” he said.

Hang Seng and Shanghai Comp were positive after the PBoC pledged to step up policy coordination at its quarterly policy meeting and noted the need to enhance efforts of macro policy adjustments, while sentiment was also underpinned by the improvement in Industrial Profits which returned to growth for August.
Australia’s ASX 200 was lower albeit with downside stemmed as participants digested the monthly CPI data from Australia which matched expectations at 5.2% Y/Y but accelerated from the prior.
Japan’s Nikkei 225 initially underperformed and briefly dipped below 32,000 before bouncing off lows.

In FX, the Bloomberg Dollar Spot Index rises 0.1%. The Norwegian krone is the best performer among the G-10’s, rising 0.2% versus the greenback. USD/JPY is little changed around 149.10. The Scandinavian currencies led gains as short-covering set the tone while quarter-end flows made their way through the market as spot transactions cover month-end value date. EUR/SEK fell as much as 0.5% to 11.5609, its lowest level since July 31; EUR/NOK fell as much as 0.6% to 11.3684, its lowest since Aug. The pound fell against the US dollar for a sixth session, hitting its lowest since March, as traders home in on a diverging outlook for the US and UK economies; GBP/USD -0.1% to 1.2149. AUD/USD reversed gains to fall 0.3% to 0.6381; it rose earlier after data showed Australia’s inflation quickened last month, bolstering the case for the Reserve Bank to hike at least one more time. The yen remained steady after weakening beyond 149 per dollar for the first time since October 2022 on Tuesday

In rates, treasuries are slightly richer across the curve with gains led by long-end, following bull-flattening move in core European rates. US yields have pulled back from cycle highs with 30-year borrowing costs falling 4bps to 4.63%. Long-end yields richer by more than 3bp on the day, flattening 5s30s spread by 1.5bp as belly lags; 10-year, down 3bp at 4.51%, outperforms bunds by ~1bp in the sector while gilts keep pace. Treasury auctions resume with $49b 5-year note sale at 1pm; cycle concludes Thursday with $37b 7-year note. The US session includes 5-year note auction poised to draw highest yield since 2007; Tuesday’s 2-year sale stopped on the screws. Dollar IG issuance slate includes World Bank 7Y with moderate issuance expected; five companies sold about $10b of new debt Tuesday, bringing weekly volume to $14.4b vs $15b-$20b estimate.

In commodities, crude futures advance, with WTI rising 1.2% to trade near $91.40. Spot gold falls 0.3%.

Looking to the day ahead, data releases include the Euro Area money supply for August, and in the US there’s the preliminary August reading for durable goods orders and core capital goods orders.

Market Snapshot

S&P 500 futures up 0.5% to 4,335.00
STOXX Europe 600 up 0.4% to 449.51
German 10Y yield little changed at 2.80%
Euro little changed at $1.0565
MXAP up 0.2% to 158.03
MXAPJ up 0.1% to 489.20
Nikkei up 0.2% to 32,371.90
Topix up 0.3% to 2,379.53
Hang Seng Index up 0.8% to 17,611.87
Shanghai Composite up 0.2% to 3,107.32
Sensex up 0.2% to 66,082.34
Australia S&P/ASX 200 down 0.1% to 7,030.35
Kospi little changed at 2,465.07
Brent Futures up 0.8% to $94.75/bbl
Gold spot down 0.2% to $1,896.53
U.S. Dollar Index little changed at 106.19

Top Overnight News

China’s central bank said it would step up policy adjustments and implement monetary policy in a “precise and forceful” manner to support an economy whose recovery was improving with “increasing momentum”. The PBOC will keep liquidity reasonably ample and maintain stable credit expansion, the bank said in a statement after a quarterly meeting of its monetary policy committee. RTRS
Evergrande Chairman Hui Ka Yan was placed under Chinese police control, people familiar said. It’s not clear why Hui is under residential surveillance, a type of police action that falls short of formal detention, but the move is the latest sign that the Evergrande saga has entered a new phase involving the criminal justice system. BBG
UBS will seek today to convince France’s top court to overturn a conviction and €1.8 billion penalty for helping wealthy French clients stash away undeclared funds in Swiss accounts. BBG
Italy is seeking to turn Monte Paschi into the country’s third-largest bank by merging it with one of its peers, people familiar said. The government’s favorite option would be a merger between Paschi and firms of a similar size such as Banco BPM or BPER Banca. There are so far no formal talks with those lenders, which have denied any interest in Paschi. BBG
France will cut public spending only slightly in its proposed budget for next year and faces rising interest costs on its national debt, raising questions about President Emmanuel Macron’s government’s ability to clean up the public finances. FT
The US is on track for an Oct. 1 government shutdown given incremental progress in both the House and Senate on rival spending bills. And neither stopgap measure has a clear path to passage in the other chamber. A shutdown would be an obvious drag on growth, as private contractors and federal workers aren’t paid (including 1.3 million active-duty military) and consumer uncertainty grows. BBG
Hospitality workers in Las Vegas have voted overwhelmingly to authorize a strike against major resorts along the Strip, a critical step toward a walkout as the economically challenged city prepares for major sporting events in the months ahead. NYT
The second GOP primary debate kicks off at 9 p.m. Eastern in California. Frontrunner Donald Trump has again chosen to skip the event. Ron DeSantis has the most at stake — can he recover from a lackluster showing last month to prove himself a viable Trump alternative? Vivek Ramaswamy, Nikki Haley and Mike Pence will look to repeat fiery performances. BBG
TikTok Employees Say Executive Moves to U.S. Show China Parent’s Influence. U.S. staff have raised questions internally about recent personnel transfers from ByteDance. WSJ

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed as a rebound in Chinese Industrial Profits partially offset the subdued handover from Wall St. where the major indices extended on losses heading closer to month-end. ASX 200 was lower albeit with downside stemmed as participants digested the monthly CPI data from Australia which matched expectations at 5.2% Y/Y but accelerated from the prior. Nikkei 225 initially underperformed and briefly dipped below 32,000 before bouncing off lows. Hang Seng and Shanghai Comp were positive after the PBoC pledged to step up policy coordination at its quarterly policy meeting and noted the need to enhance efforts of macro policy adjustments, while sentiment was also underpinned by the improvement in Industrial Profits which returned to growth for August.

Top Asian News

China is able to achieve economic growth of slightly higher than 5% this year, according to a PBoC advisor cited by Reuters. PBoC advisor added that China has relatively ample policy room to support economic growth. China’s economy can avoid “Japanification”, said the PBoC Advisor.
PBoC’s policy committee held a meeting on Q3 monetary policy and vowed to step up policy coordination, while it stated that they need to enhance efforts of macro policy adjustment and will implement monetary policy in a precise and forceful manner. PBoC also pledged to keep prices at a reasonable level and prevent excessive adjustments in exchange rates. Furthermore, it is to promote a healthy and stable development of the property market and will implement financial support measures to improve the healthy development of the platform economy according to Bloomberg and Reuters.
PBoC Governor Pan met with EU trade chief Dombrovskis on China-EU financial cooperation.
China put Evergrande’s (3333 HK) Chairman Hui under police control, while Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, according to Bloomberg.
China’s funding round to support the semiconductor industry is struggling in the initial phases to raise the target of USD 41bln, according to FT.
“China is expected to see 190mln railway passenger trips during the 12-day travel rush starting Wed for the National Day holiday, which will peak on Sept 29”, according to People’s Daily, “with over 20mln trips to be made on a single day.”
“China will further pursue high-level market opening up with services sector opening up as a focus and shorten negative list for investment in the free trade zones, according to Vice Commerce Minister” cited by Global Times.
PBoC set USD/CNY mid-point at 7.1717 vs exp. 7.3103 (prev. 7.1727)
Chinese state banks were said to be selling dollars onshore to boost the yuan.
RBI likely sold dollars in the NDF market at around 83.24-83.25 ahead of the spot market open, according to traders cited by Reuters.
BoJ July meeting minutes noted it is important to continue easing and members also agreed it was important to check whether wage hikes will continue next year and onwards, while a few members said the chance of firms continuing to raise wages next year was high. Furthermore, many members said stable and sustained achievement of the price target accompanied by wage growth was not yet in sight.
Japanese PM Kishida said Japan is to create next tax break for domestic investments in strategic areas including batteries, EV and semiconductors, according to Reuters.

European bourses are firmer in early trade, albeit it is hard to see today’s bounce as much more than a reprieve from recent losses with not a great deal changing since yesterday’s close other than a rebound in Chinese industrial profits which helped buoy sentiment overnight. Sectors in Europe are mostly firmer with Tech top of the pile alongside Autos and Banks. On the downside, Utilities sit at the foot of the leaderboard. US futures are trading firmer, with sentiment improving following yesterday’s sell-off, which was ultimately void of any pertinent data releases. The docket remains lacklustre for the remainder of the day, with a focus on US MBAs and Durable Goods.

Top European News

German institute sees 2025 inflation at 1.9% and GDP at 1.5%, according to Handelsblatt.
Italy’s Energy Authority Chairman expects a rise in electricity bills with a three-monthly update on Thursday, according to Reuters.

DXY consolidates gains on the 106.00 handle within a 106.16-32 range as month/quarter-end rebalancing demand offsets negative factors.
Aussie lags below 0.6400 vs Buck irrespective of upturn in CPI, Kiwi loses momentum above 0.5950.
Pound flounders under 1.2200 and edges closer to Fib protecting round number below, while EUR/USD trades sub-1.0600 post weak Eurozone M3.
Yen pivots 149.00 against the Greenback with some support from bull-flattening in USTs

Fixed Income

Price action is decidedly more encouraging or less destructive than it has been for a while and decent blocked curve flatteners underpinned Treasuries overnight.
Bonds have bounced a bit further and Bunds could garner more momentum given a well-received German 10-year offering that was twice oversubscribed, but there are gaps still to fill before making a full recovery from Tuesday’s trough
The same applies to Gilts in wake of a strong 2073 DMO auction and T-notes are awaiting 2-year FRN plus 5-year conventional issuance.
UK sells GBP 0.75bln 1.125% 2073 Gilt: b/c 2.88x, tail 0.1bps and average yield 4.289%.
Germany sells EUR 3.247bln vs exp. EUR 4bln 2.60% 2033 Bund: b/c 2.0x (prev. 1.7x), average yield 2.78% (prev. 2.63%) & retention 18.83% (prev. 18.04%)
French Net Debt issuance seen at EUR 285bln in 2024 (vs EUR 270bln in 2023), according to the AFT.

Commodities

Crude futures are firmer intraday and not far off session highs after resisting yesterday’s risk aversion to settle higher by around USD 0.70/bbl apiece, buoyed by bullish fundamentals and the prospect of a tighter market in Q4.
Dutch TTF prices are softer intraday, with the October contract back under EUR 40/MWh but off worst levels at the time of writing, with newsflow for the complex light whilst desks eye the upcoming winter season.
Spot gold is subdued after finally falling back under USD 1,900/oz in APAC trade, although losses at the time of writing, are minimal as markets await the next catalyst.
Base metals are mostly softer as DXY remains firm, although the complex saw a leg higher overnight after Chinese Industrial Profits were better than expected.
US Energy Inventory Data (bbls): Crude +1.6mln (exp. -0.3mln), Gasoline -0.1mln (exp. -0.1mln), Distillates -1.7mln (exp. -1.3mln), Cushing -0.8mln.
Polish Farm Minister said talks are at a final stage with Lithuania regards to getting Ukrainian grain to ports in Lithuania; talks are going in a good direction, according to Reuters.

Geopolitics

US Secretary of State Blinken spoke with Azerbaijan President Aliyev to emphasise the need to refrain from further hostilities in Nagorno-Karabakh and to provide assurances to residents there, while Binken urged Aliyev to commit to broad amnesty and allow observer missions, according to the State Department.
The US restricted imports from three more companies in China’s Xinjiang connected to forced labour.
China’s Taiwan Affairs Office said the aim of Chinese drills near Taiwan is to resolutely combat the arrogance of separatist forces, according to Reuters.
Chinese Foreign Ministry, on the Philippines removing barriers in disputed waters, said the islands are Chinese territory, will safeguard territorial sovereignty over the area, according to Reuters.
Chinese Foreign Ministry, on US restricting imports from China on forced labour concerns, said China will take measures to safeguard Chinese companies’ legitimate rights, according to Reuters.
North Korea’s UN Envoy told the UN General Assembly that 2023 is an extremely dangerous year as the Korean peninsula was driven closer to the brink of nuclear war and blamed the US and South Korea for the current dangerous situation.

US Event Calendar

07:00: Sept. MBA Mortgage Applications, prior 5.4%
08:30: Aug. Durable Goods Orders, est. -0.5%, prior -5.2%
- Aug. Durables Less Transportation, est. 0.2%, prior 0.4%
- Cap Goods Ship Nondef Ex Air, est. 0%, prior -0.3%
- Cap Goods Orders Nondef Ex Air, est. 0.1%, prior 0.1%

Fed speakers

08:00: Fed’s Kashkari Speaks on CNBC

DB’s Jim Reid concludes the overnight wrap

It was another rough session in markets over the last 24 hours, with a fresh sell-off taking place across several asset classes that accelerated into the US close. Multiple factors were responsible, but an important one was the US Conference Board’s latest consumer confidence data, which showed a larger-than-expected decline in September. That led to growing concern about the economic outlook, and it meant the S&P 500 (-1.47%) fell to a 3-month low, having now shed -3.83% over the last week alone. It also pushed the VIX index of volatility up to a 3-month high of 18.94pts. But despite the weak numbers on the economy, sovereign bonds saw little respite either, with 10yr yields inching their way to new highs on both sides of the Atlantic. So a tough backdrop across the board, and overnight we’ve also seen oil prices move back up to their recent highs, with Brent crude at $94.90/bbl .

When it came to that Conference Board data, the main takeaway was the decline in the consumer confidence measure to 103.0 in September (vs. 105.5 expected). Not only was that the lowest reading since May, but it also marked the biggest decline relative to the previous month (-5.7pts) since August 2021. And looking at the components, we also saw the expectations reading fall to a 4-month low of 73.7, suggesting that the cautious optimism of the summer months might turn out to have been short-lived. To be fair though, it wasn’t all bad news from that release. For instance, the difference between those saying jobs are plentiful compared with those who say they’re hard to get actually improved in September, rising to +27.3%.

That weakness in consumer confidence comes as the US government is still days away from a potential government shutdown, unless Congress can agree to pass funding beyond September 30. In terms of the latest, a bipartisan deal has emerged in the Senate, which would keep the government open until mid-November. However, it’s uncertain as to whether that would be brought to a vote in the Republican-controlled House, and Speaker McCarthy said that he’d put a different stopgap funding measure on the floor this week, saying that a vote would probably be on Friday. If there is a shutdown, that could affect several upcoming data releases depending on how long it lasted, including the September jobs report on October 6 .

Rising pessimism about the near-term outlook meant that equities lost significant ground yesterday. That included the S&P 500 (-1.47%), which hit a 3-month low thanks to a broad-based decline. Furthermore, the losses yesterday mean that the equal-weighted S&P 500 is now in negative YTD territory again at -0.16%, which just shows how narrow this year’s rally has been, given the overall index is still up +11.30% YTD. Tech stocks saw a slight underperformance, mostly due to a -4.03% fall for Amazon on news of an antitrust case being launched by the Federal Trade Commission. Elsewhere, European equities saw further losses as well, and the STOXX 600 (-0.61%) closed at a 2-month low. Amid the broad equity weakness, the MSCI All Country World Index (-1.20%) fell for an eighth day in a row. Likewise, there were also signs of the risk-off tones weighing on credit markets, with US HY spreads (+9bps) widening to a 2-month high of 396bps .

Whilst this backdrop might have seemed more favourable for sovereign bonds, yesterday saw modest losses for long-end bonds, and Bloomberg’s aggregate bond index hit a fresh low for 2023 so fa r. In the US, the 10yr Treasury yield rose +0.2bps to 4.54%, which is their highest closing level since 2007, although they’ve slipped overnight and are back down to 4.52%. Similarly, the 30yr yield (+2.3bps) also hit a new cycle high of 4.68%. Moreover, it was real yields that continued to drive those moves, leading to another set of milestones across the curve. Among others, yesterday saw the 2yr real yield (+5.9bps) close at 3.19%, the 5yr real yield (+4.0bps) close at 2.43%, and the 10yr real yield (+4.5bps) close at 2.22%. In every case, that’s their highest level since the GFC, and it demonstrates how the impact of higher borrowing costs is still filtering through into the economy.

Sovereign bonds also struggled in Europe, but it was Italian BTPs that saw the biggest underperformance, with 10yr yields up +8.0bps. That comes as the Italian government is set to present its latest budget projections today, and the focus will be on what deficit level is expected. Bloomberg reported yesterday that the deficit could be as wide as 4.5%, and our own European economists examine the issue in more depth here. Ahead of the announcement, the spread of Italian yields over bunds widened to 193bps, which is its highest closing level since March. Nonetheless, the sell-off among European sovereign bonds wasn’t confined to Italy, and yesterday saw yields on 10yr bunds (+1.1bps) close at 2.80%, which is the highest they’ve been since 2011 .

Asian equity markets have posted a mixed performance this morning, with losses for the Nikkei (-0.36%) and the KOSPI (-0.22%), alongside advances for the Hang Seng (+0.64%), the CSI 300 (+0.31%) and the Shanghai Comp (+0.33%). In part, that boost for Chinese equities followed data showing that industrial profits in China were up +17.2% year-on-year in August, up from a -6.7% year-on-year reading in July. Elsewhere, the main data release was the Australian CPI for August, which saw an uptick to +5.2%, in line with expectations .

Lastly, we had a few data releases on US housing, which painted a divergent picture. On the one hand, new home sales fell to an annualised rate of 675k in August (vs. 698k expected). That’s the lowest they’ve been in 5 months, and the -8.7% decline on the previous month was the largest since September 2022. But on the other hand, the July house price data showed faster-than-expected growth. For example, the S&P CoreLogic Case-Shiller 20-City index was positive for a 5th consecutive month, at +0.87% (vs. +0.70% expected), which took the year-on-year number back into positive territory for the first time since February, at +0.13%. Meanwhile, the FHFA house price index was up +0.8% in July (vs. +0.4% expected).

To the day ahead now, and data releases include the Euro Area money supply for August, and in the US there’s the preliminary August reading for durable goods orders and core capital goods orders.

END

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

2 c. ASIAN AFFAIRS

European bourses mixed, US futures firmer, DXY bid & AUD lags; US Durable Goods due – Newsquawk US Market Open

WEDNESDAY, SEP 27, 2023 – 06:12 AM

European bourses are firmer in early trade, albeit it is hard to see today’s bounce as much more than a reprieve from recent losses with not a great deal changing since yesterday’s close.
DXY consolidates gains on the 106.00 handle within a 106.16-32 range as month/quarter-end rebalancing demand offsets negative factors.
Price action in bonds is decidedly more encouraging or less destructive than it has been for a while and decent blocked curve flatteners underpinned Treasuries overnight.
Crude futures are firmer intraday and not far off session highs after resisting yesterday’s risk aversion; metals are softer amid a stronger Dollar.
Highlights include US Durable Goods, CNB Policy Announcement, Supply from the US, and Earnings from Micron.

27th September 2023

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EUROPEAN TRADE

EQUITIES

European bourses are firmer in early trade, albeit it is hard to see today’s bounce as much more than a reprieve from recent losses with not a great deal changing since yesterday’s close other than a rebound in Chinese industrial profits which helped buoy sentiment overnight.
Sectors in Europe are mostly firmer with Tech top of the pile alongside Autos and Banks. On the downside, Utilities sit at the foot of the leaderboard.
US futures are trading firmer, with sentiment improving following yesterday’s sell-off, which was ultimately void of any pertinent data releases. The docket remains lacklustre for the remainder of the day, with a focus on US MBAs and Durable Goods.
Click here for more details.

FX

DXY consolidates gains on the 106.00 handle within a 106.16-32 range as month/quarter-end rebalancing demand offsets negative factors.
Aussie lags below 0.6400 vs Buck irrespective of upturn in CPI, Kiwi loses momentum above 0.5950.
Pound flounders under 1.2200 and edges closer to Fib protecting round number below, while EUR/USD trades sub-1.0600 post weak Eurozone M3.
Yen pivots 149.00 against the Greenback with some support from bull-flattening in USTs
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

Price action is decidedly more encouraging or less destructive than it has been for a while and decent blocked curve flatteners underpinned Treasuries overnight.
Bonds have bounced a bit further and Bunds could garner more momentum given a well-received German 10-year offering that was twice oversubscribed, but there are gaps still to fill before making a full recovery from Tuesday’s trough
The same applies to Gilts in wake of a strong 2073 DMO auction and T-notes are awaiting 2-year FRN plus 5-year conventional issuance.
UK sells GBP 0.75bln 1.125% 2073 Gilt: b/c 2.88x, tail 0.1bps and average yield 4.289%.
Germany sells EUR 3.247bln vs exp. EUR 4bln 2.60% 2033 Bund: b/c 2.0x (prev. 1.7x), average yield 2.78% (prev. 2.63%) & retention 18.83% (prev. 18.04%)
French Net Debt issuance seen at EUR 285bln in 2024 (vs EUR 270bln in 2023), according to the AFT.
Click here for more details.

COMMODITIES

Crude futures are firmer intraday and not far off session highs after resisting yesterday’s risk aversion to settle higher by around USD 0.70/bbl apiece, buoyed by bullish fundamentals and the prospect of a tighter market in Q4.
Dutch TTF prices are softer intraday, with the October contract back under EUR 40/MWh but off worst levels at the time of writing, with newsflow for the complex light whilst desks eye the upcoming winter season.
Spot gold is subdued after finally falling back under USD 1,900/oz in APAC trade, although losses at the time of writing, are minimal as markets await the next catalyst.
Base metals are mostly softer as DXY remains firm, although the complex saw a leg higher overnight after Chinese Industrial Profits were better than expected.
US Energy Inventory Data (bbls): Crude +1.6mln (exp. -0.3mln), Gasoline -0.1mln (exp. -0.1mln), Distillates -1.7mln (exp. -1.3mln), Cushing -0.8mln.
Polish Farm Minister said talks are at a final stage with Lithuania regards to getting Ukrainian grain to ports in Lithuania; talks are going in a good direction, according to Reuters.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

German institute sees 2025 inflation at 1.9% and GDP at 1.5%, according to Handelsblatt.
Italy’s Energy Authority Chairman expects a rise in electricity bills with a three-monthly update on Thursday, according to Reuters.

EUROPEAN DATA RECAP

German GfK Consumer Sentiment (Oct 2023) -26.5 vs. Exp. -26.0 (Prev. -25.5).
French Consumer Confidence (Sep 2023) 83.0 vs. Exp. 84.0 (Prev. 85.0)
EU Money-M3 Annual Growth (Aug 2023) -1.3% vs. Exp. -1.0% (Prev. -0.4%)
EU Loans to Non-Fin* (Aug 2023) 0.6% (Prev. 2.2%)
EU Loans to Households* (Aug 2023) 1.0% (Prev. 1.3%)

NOTABLE US HEADLINES

US Senate voted to clear a procedural hurdle of the Senate bipartisan bill to avoid a government shutdown, while it was separately reported that the Senate short-term spending bill would fund the government through to November 17th and includes USD 4.5bln for Ukraine, according to Punchbowl.
US House voted to start the debate on the bill to fund parts of the federal government, while US House Speaker McCarthy said a stopgap funding bill will be brought to the House floor on Friday.
US auto supplier groups urged President Biden to provide federal assistance to support the auto parts sector during the UAW strike, according to a letter. It was also reported that President Biden said the UAW union should get a 40% pay increase when questioned on the matter.
Hollywood screenwriters agreed to end their strike and return to work on Wednesday after securing a new three-year contract, according to AFP and FT.
US judge ruled that former US President Trump fraudulently inflated his wealth to get cheap loans in a civil case brought by the New York Attorney General.
Some automakers are said to be holding off on investing in their EV supply chains until they see clarity on tax credit rules with regard to what Chinese materials or technology are allowed under the final rules, according to WSJ sources.
Click here for the US Early Morning Note.

GEOPOLITICS

US Secretary of State Blinken spoke with Azerbaijan President Aliyev to emphasise the need to refrain from further hostilities in Nagorno-Karabakh and to provide assurances to residents there, while Binken urged Aliyev to commit to broad amnesty and allow observer missions, according to the State Department.
The US restricted imports from three more companies in China’s Xinjiang connected to forced labour.
China’s Taiwan Affairs Office said the aim of Chinese drills near Taiwan is to resolutely combat the arrogance of separatist forces, according to Reuters.
Chinese Foreign Ministry, on the Philippines removing barriers in disputed waters, said the islands are Chinese territory, will safeguard territorial sovereignty over the area, according to Reuters.
Chinese Foreign Ministry, on US restricting imports from China on forced labour concerns, said China will take measures to safeguard Chinese companies’ legitimate rights, according to Reuters.
North Korea’s UN Envoy told the UN General Assembly that 2023 is an extremely dangerous year as the Korean peninsula was driven closer to the brink of nuclear war and blamed the US and South Korea for the current dangerous situation.

CRYPTO

Bitcoin is modestly firmer as sentiment in crypto moves in tandem with the broader market mood.

APAC TRADE

APAC stocks traded mixed as a rebound in Chinese Industrial Profits partially offset the subdued handover from Wall St. where the major indices extended on losses heading closer to month-end.
ASX 200 was lower albeit with downside stemmed as participants digested the monthly CPI data from Australia which matched expectations at 5.2% Y/Y but accelerated from the prior.
Nikkei 225 initially underperformed and briefly dipped below 32,000 before bouncing off lows.
Hang Seng and Shanghai Comp were positive after the PBoC pledged to step up policy coordination at its quarterly policy meeting and noted the need to enhance efforts of macro policy adjustments, while sentiment was also underpinned by the improvement in Industrial Profits which returned to growth for August.

NOTABLE ASIA-PAC HEADLINES

China is able to achieve economic growth of slightly higher than 5% this year, according to a PBoC advisor cited by Reuters. PBoC advisor added that China has relatively ample policy room to support economic growth. China’s economy can avoid “Japanification”, said the PBoC Advisor.
PBoC’s policy committee held a meeting on Q3 monetary policy and vowed to step up policy coordination, while it stated that they need to enhance efforts of macro policy adjustment and will implement monetary policy in a precise and forceful manner. PBoC also pledged to keep prices at a reasonable level and prevent excessive adjustments in exchange rates. Furthermore, it is to promote a healthy and stable development of the property market and will implement financial support measures to improve the healthy development of the platform economy according to Bloomberg and Reuters.
PBoC Governor Pan met with EU trade chief Dombrovskis on China-EU financial cooperation.
China put Evergrande’s (3333 HK) Chairman Hui under police control, while Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, according to Bloomberg.
China’s funding round to support the semiconductor industry is struggling in the initial phases to raise the target of USD 41bln, according to FT.
“China is expected to see 190mln railway passenger trips during the 12-day travel rush starting Wed for the National Day holiday, which will peak on Sept 29”, according to People’s Daily, “with over 20mln trips to be made on a single day.”
“China will further pursue high-level market opening up with services sector opening up as a focus and shorten negative list for investment in the free trade zones, according to Vice Commerce Minister” cited by Global Times.
PBoC set USD/CNY mid-point at 7.1717 vs exp. 7.3103 (prev. 7.1727)
Chinese state banks were said to be selling dollars onshore to boost the yuan.
RBI likely sold dollars in the NDF market at around 83.24-83.25 ahead of the spot market open, according to traders cited by Reuters.
BoJ July meeting minutes noted it is important to continue easing and members also agreed it was important to check whether wage hikes will continue next year and onwards, while a few members said the chance of firms continuing to raise wages next year was high. Furthermore, many members said stable and sustained achievement of the price target accompanied by wage growth was not yet in sight.
Japanese PM Kishida said Japan is to create next tax break for domestic investments in strategic areas including batteries, EV and semiconductors, according to Reuters.

DATA RECAP

Chinese Industrial Profit YY (Aug) 17.2% (Prev. -6.7%)
Chinese Industrial Profit YTD (Aug) -11.7% (Prev. -15.5%)
Australian Weighted CPI YY (Aug) 5.2% vs. Exp. 5.2% (Prev. 4.9%)

WEDNESDAY MORNING/TUESDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

//NORTH KOREA/CHINA/RUSSIA

END

2e) JAPAN

JAPAN

end

3 CHINA /

CHINA/

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

POLAND/USA

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

RUSSIA/UKRAINE/USA/GERMANY/NORDSTREAM II

Hersh Reveals Motive For Covert Nord Stream Sabotage Attack, One Year On

TUESDAY, SEP 26, 2023 – 09:25 PM

On the one-year anniversary of the September 26, 2022 Nord Stream pipeline sabotage bombings under the Baltic Sea, legendary journalist Seymour Hersh has provided more context and color based on his intelligence sources.

Hersh’s original bombshell reporting in his How America Took Out The Nord Stream Pipeline said that it was a highly secret CIA operation with assistance from an elite US Navy dive team as well as Norwegian intelligence.

Given Hersh’s significant charge that Washington conducted a ‘false flag’ – at a moment many Western officials were quick to blame Moscow for destroying its own pipelines, Russia had in the wake of Hersh’s reporting called for an urgent United Nations investigation into the sabotage.

Instead of answering questions, for example when in March The Intercept approached the White House for answers, the Biden administration merely said it was supporting the separate investigations of individual countries like Sweden, Germany, and Denmark.

The heart of Hersh’s new article this week, which is entitled A Year of Lying About Nord Stream, deals with motive. What was the United States’ motive? – he asks, and his sources tell… The answer is somewhat surprising (or not), and relates to the all-important question of energy dependence.

Below are key sections from the new Hersh investigative report, broken up by our own subheadings…

* * *

Completely ‘offline planning’ & plausible deniability

Deniability, as an option for President Joe Biden and his foreign policy advisers, was paramount. No significant information about the mission was put on a computer, but instead typed on a Royal or perhaps a Smith Corona typewriter with a carbon copy or two, as if the Internet and the rest of the online world had yet to be invented. The White House was isolated from the goings-on near Oslo; various reports and updates from the field were directly provided to CIA Director Bill Burns, who was the only link between the planners and the president who authorized the mission to take place on September 26, 2022. Once the mission was completed, the typed papers and carbons were destroyed, thus leaving no physical trace—no evidence to be dug up later by a special prosecutor or a presidential historian. You could call it the perfect crime.

The Germans possibly had foreknowledge

It was no surprise to the agency’s secret planning group when on January 27, 2022, the assured and confident Nuland, then undersecretary of state for political affairs, stridently warned Putin that if he invaded Ukraine, as he clearly was planning to, that “one way or another Nord Stream 2 will not move forward.” The line attracted enormous attention, but the words preceding the threat did not. The official State Department transcript shows that she preceded her threat by saying that with regard to the pipeline: “We continue to have very strong and clear conversations with our German allies.”

…The German leader was considered then—and now—by some members of the CIA team to be fully aware of the secret planning underway to destroy the pipelines.

* * *

Biden’s extraordinary public threat

What I did not know then, but was told recently, was that after Biden’s extraordinary public threat to blow up Nord Stream 2, with Scholz standing next to him, the CIA planning group was told by the White House that there would be no immediate attack on the two pipelines, but the group should arrange to plant the necessary bombs and be ready to trigger them “on demand”—after the war began. “It was then that we”—the small planning group that was working in Oslo with the Royal Norwegian Navy and special services on the project—“understood that the attack on the pipelines was not a deterrent because as the war went on we never got the command.”

After Biden’s order to trigger the explosives planted on the pipelines, it took only a short flight with a Norwegian fighter and the dropping of an altered off-the-shelf sonar device at the right spot in the Baltic Sea to get it done. By then the CIA group had long disbanded. By then, too, the official told me: “We realized that the destruction of the two Russian pipelines was not related to the Ukrainian war”—Putin was in the process of annexing the four Ukrainian oblasts he wanted—“but was part of a neocon political agenda to keep Scholz and Germany, with winter coming up and the pipelines shut down, from getting cold feet and opening up” the shuttered Nord Stream 2. “The White House fear was that Putin would get Germany under his thumb and then he was going to get Poland.”

Motive

All of this explains why a routine question I posed a month or so after the bombings to someone with many years in the American intelligence community led me to a truth that no one in America or Germany seems to want to pursue. My question was simple: “Who did it?”

The Biden administration blew up the pipelines but the action had little to do with winning or stopping the war in Ukraine. It resulted from fears in the White House that Germany would waver and turn on the flow of Russia gas—and that Germany and then NATO, for economic reasons, would fall under the sway of Russia and its extensive and inexpensive natural resources. And thus followed the ultimate fear: that America would lose its long-standing primacy in Western Europe.

Read the full Hersh report and subscribe at Substack

end

UKRAINE/GERMANY

Germany admits that some of the weapons sent to Ukraine are outdated and not really functioning

(zerohedge)

German FM Admits Some Of Berlin’s Weapons To Ukraine Are Outdated, “Not Really Functioning”

WEDNESDAY, SEP 27, 2023 – 02:45 AM

At a moment some key European allies, Poland chief among them, have shown signs they could scale back defense aid to Ukraine (Poland chief among them, which recently declared it’s done), Germany’s Foreign Minister has admitted that some “advanced” Germany systems supplied to Kiev are faulty.

Annalena Baerbock admitted in a fresh interview with CNN that some Leopard 1 tanks sent to Ukraine are outdated and “not really functioning”. She said this when pressed over why Berlin has thus far rejected approval for supplying Taurus long-range missiles.

“We have to be clear on every detail, how does it work, who can actually operate them (the missiles),” Baerbock told CNN’s Christiane Amanpour. “Yes, it takes some time. I totally understand there is not enough time in Ukraine, but when we deliver it, it has to work.”

Her logic was that given past German systems have not been effective and even proved faulty, there should be no rush to provide even more, especially if they are sophisticated missile systems.

In many cases Ukrainian operators have been rushed through hasty training programs, and problems become more acute when not enough time is spent. And it’s not just operators that have to be caught up to speed, but the necessary assisting and support crews.

She said in the interview that all this can be explained by Europe not having been confronted “with a brutal war lately.”

It must be recalled that the German government was among the first to declare that it wouldn’t “stand in the way” in Eastern European countries like Poland if they wanted to transfer German-produced tanks to the Russia-Ukraine war zone.

Since then, Russian media has aired multiple examples of Leopard tanks being destroyed and burning while declaring a ‘victory’ over West-supplied main battle tanks.

Baerbock’s surprise admission of sending faulty and old tanks to Kiev comes the same week that the Zelensky government announced the arrival of M1 Abrams tanks from the US. In this case too, training provided by US instructors out of Germany was likely hasty – given it takes sometimes years for crews to be combat ready.

Recently, Baerbock was humiliated in a press conference while standing alongside a frustrated and irate Ukrainian foreign minister, who said this….

END

UKRAINE/RUSSIA

END

6.GLOBAL ISSUES AND VACCINE/COVID ISSUES

GLOBAL VACCINE/COVID ISSUES

What next from the Biden administration?

Fauci Was ‘Smuggled’ Into CIA Headquarters To “Influence” Covid-19 Origins Investigation: Select Subcommittee

TUESDAY, SEP 26, 2023 – 08:45 PM

Dr. Anthony Fauci was smuggled into CIA headquarters, “without a record of entry,” where he “participated in the analysis to “influence” the Agency’s” Covid-19 investigation, according to the House Select Subcommittee on the Coronavirus Pandemic.

Fauci’s alleged CIA meeting was revealed in a Tuesday night letter from Subcommittee Chairman Brad Wenstrup (R-OH) to the Inspector General of the US Department of Health and Human Services, which demands documents, communications and other evidence between Fauci and the CIA.

This allegation is even more interesting in light of a report from two weeks ago that the CIA bribed analysts to say Covid-19 did not originate in a Chinese lab.

According to a ‘senior-level’ CIA whistleblower, the 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 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 Wenstrup.

“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 Committee noted on Tuesday;

Dr. Fauci’s questionable presence at the CIA, coupled with recently uncovered evidence that he, Dr. Fauci, “prompted” the drafting of “Proximal Origin” — the infamous paper that was used to attempt to “disprove” the lab leak theory — lends credence to heightened concerns about the promotion of a false COVID-19 origins narrative by multiple federal government agencies.

Chairman Wenstrup is seeking all documents and communications related to Dr. Fauci’s access to CIA facilities and CIA employees as it relates to these allegations. Also, after becoming aware of additional information, the Select Subcommittee is requesting Special Agent Brett Rowland appear for a transcribed interview regarding Dr. Fauci’s purported movements to and from the CIA. As mounting evidence continues to imply that federal government officials covered-up the origins of COVID-19, investigating any improper influence will ensure future accountability of not only the intelligence community, but also public health officials.

Amazing…

twitter: zerohedge

So all along Fauci was just a patsy for the deep state’s involvement in the creation of a weaponized virus using a Chinese biolab funded by the US government.

case closed

zerohedge

@zerohedge

Well isn’t that special

END

GLOBAL ISSUES//

end

Neil

DR PAUL ALEXANDER.

What? Antiviral drug molnupiravir (Merck & Ridgeback Biotherapeutics & we call it ‘MONEY-PIRAVIR’) linked to driving COVID virus mutations? see NATURE (Sanderson et al.); Molnupiravir & Paxlovid are

failed dangerous antivirals & CDC, FDA, NIH know this! Molnupiravir induces mutations in the virus’s genetic information as it replicates; did the idiots at Merck not think it would cause MORE?

DR. PAUL ALEXANDERSEP 26

READ IN APP

https://medicalxpress.com/news/2023-09-antiviral-drug-molnupiravir-linked-sars-cov-.html

‘Researchers at the Francis Crick Institute, the University of Cambridge, Imperial College London, the University of Liverpool, the University of Cape Town and UKHSA have uncovered a link between an antiviral drug for COVID-19 infections called molnupiravir and a pattern of mutations in the SARS-CoV-2 virus.’

end

Canadian Parliament and Justin Trudeau Gives Two Standing Ovations to Former Nazi During Zelensky’s Address to Parliament’; The Naked Emperor’s Newsletter; Canadian media covering for Trudeau

excellent scholarship, support this work; no doubt, this criminal IMO, this pump wearing cross-dresser Zelensky takes the award for expediency and shamelessness; he has no bounds

DR. PAUL ALEXANDERSEP 25

READ IN APP

The Naked Emperor’s Newsletter

Canadian Parliament Gives Two Standing Ovations to Former Nazi

On Friday, Ukrainian President Volodymyr Zelenksy addressed the Canadian Parliament. Dressed in his usual military green coloured outfit, purely for the optics of reminding everyone he is fighting a war, Zelensky thanked Canada for its financial, political and military aid…

SLAY NEWS

The latest reports from Slay News

WEF-Linked Covid Drug Causes Virus to ‘Mutate’ & Spread, Study Finds A popular antiviral drug used to treat Covid has been found to cause the virus to “mutate” and spread more rapidly, a bombshell new study has revealed.READ MORE

Adam Schiff Caught Funneling Millions in Tax Dollars to Defense Contractors He Took Donations From Democrat Rep. Adam Schiff (D-CA) has been caught funneling millions of dollars in taxpayer money to contractors who have made political donations to his election campaigns.READ MORE

Violent Daylight Robbery Caught on Video in Chicago Violent robberies have skyrocketed in Chicago under the city’s new radical Democrat Mayor Brandon Johnson.READ MORE

Maxine Waters: Republicans Are ‘Destroying’ America, Democrats ‘Are the Patriots’Democrat Rep. Maxine Waters (D-CA) has claimed that Republicans are “destroying” the country because they are unpatriotic and “don’t care” about the American people.READ MORE

Hunter Biden Sues Rudy Giuliani for ‘Hacking’ His ‘Laptop from Hell’Democrat President Joe Biden’s son Hunter has filed a lawsuit against Rudy Guiliani, accusing the former New York City mayor of “hacking” his notorious “Laptop from Hell.”READ MORE

Ted Cruz Says Democrats Plotting to Replace Biden with Michelle Obama: ‘Odds Are Very Significant’Republican Senator Ted Cruz (R-TX) has doubled down on his prediction that President Joe Biden will be replaced with Michelle Obama on the Democrats’ 2024 ticket.READ MORE

Democrat Mayor Sends 5 Buses of Illegal Border Crossers to New York, Chicago, Denver The Democrat mayor of El Paso, Texas has sent five buses of illegal border crossers to so-called “sanctuary cities” across America.READ MORE

Ford ‘Pauses’ Michigan Electric Vehicle Battery Plant Construction amid Auto Workers Union Strikes Automaker Ford has announced it is “pausing” the construction of a controversial electric vehicle (EV) battery plant in Michigan.READ MORE

House GOP: Biden’s ‘Organized Crime Ring’ Likely Received $50 Million in Bribes House Republicans have revealed that they believe Democrat President Joe Biden and his family likely received a staggering $50 million in bribe payments.READ MORE

Anglican Minister: ‘Progressive Christians’ Are ‘Fake’ – Liberals Are Christianity’s ‘Greatest’ Threat An Anglican minister has blasted the notion of “progressive Christians” as an “oxymoron.”READ MORE

Ex-Democrat Comes Clean: ‘Biden’s Political Prosecution of Trump Is an Obvious Attempt to Drain Trump’s Attention and Resources’Former Democrat Rep. Tulsi Gabbard has slammed attempts by President Joe Biden to weaponize federal agencies against his political rivals.READ MORE

Biden’s America Hits New Low as Illegal Migrants Plant Venezuelan Flag on Texas Island Democrat President Joe Biden is falling in the polls because he is failing this great nation.READ MORE

Hillary Clinton: ‘The Russians’ Are Planning to ‘Interfere in Our Elections’ to Help Trump ‘Again’Democrat election denier Hillary Clinton has claimed that “the Russians” are planning to make sure President Joe Biden doesn’t win re-election in 2024.READ MORE

EVOL NEWS

Smoking Gun: Biden Admin Knew Covid Shots Would Kill Millions, Emails ShowREAD MORE…

LATEST NEWS:

Seymour Hersh: Ukraine ‘War’ Is ‘All Lies’ – ‘Russia Won’Read more…Ford pausing work on $3.5 billion Michigan electric vehicle battery plantRead more…Michelle Obama to rake in more than $700,000 for one-hour lectureRead more…Scott Gottlieb’s Role in Creating a New Intelligence OfficeRead more…BitBoy Crypto Got Arrested While Streaming His Attempt To Get His Lamborghini BackRead more…UAW President Fain to join President Biden on the picket line Tuesday in MichiganRead more…JUST IN: Kidnapping Case Dropped Against Man Who Gave Money To ‘Sound Of Freedom’Read more…Oakland small business owners prepare to strike Tuesday over rampant crime: ‘We are all dying’Read more…

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIES

Seymour Hersh: Ukraine ‘War’ Is ‘All Lies’ – ‘Russia Won’World-renowned investigative journalist Seymour Hersh claims to have uncovered one of the biggest cover-ups in human history.READ THE FULL REPORT

Smoking Gun: Biden Admin Knew Covid Shots Would Kill Millions, Emails Show Smoking gun emails have emerged showing that Dr. Anthony Fauci and other top Biden administration officials knew that Covid shots would likely kill millions of Americans but continued to push them onto the public anyway.READ THE FULL REPORT

Zelensky Hires ‘Sprit Cooking’ Satanist to ‘Rebuild Ukraine’s Schools’Ukrainian President Volodymyr Zelensky has appointed “spirit cooking” satanist Marina Abramović to serve as an ambassador to Ukraine charged with rebuilding the country’s schools.READ THE FULL REPORT

Pro-Pedo Group NAMBLA: 2A Patriots Have ‘Diseased Minds’The North American Man/Boy Love Association has accused patriotic pro-Second Amendment Americans of having “diseased minds.”READ THE FULL REPORT

Trump Crushes Biden in Latest WaPo/ABC Poll In a surprising poll released early Sunday morning, former President Donald Trump is now trouncing incumbent President Joe Biden in a hypothetical 2024 presidential election race.READ THE FULL REPORT

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

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

Maintenance by Russia stops exports for 4 days.

(Kennedy/OilPrice.com)

Russia’s Crude Oil Exports Drop Amid Terminal Maintenance

WEDNESDAY, SEP 27, 2023 – 07:20 AM

By Charles Kennedy of OilPrice.com

Due to port maintenance works, Russian crude oil exports by sea dipped by around 100,000 barrels per day (bpd) to 3 million bpd last week and by 100,000 bpd to 3.2 million bpd in the four weeks to September 24, tanker-tracking data monitored by Bloomberg showed on Tuesday.

Last week, the oil export terminal at Primorsk on the Baltic Sea stopped shipping cargoes for four days due to maintenance works, and this halt offset recovering export volumes out of the Kozmino port in Russia’s Far East. Kozmino crude export flows rebounded last week after maintenance works had reduced shipments in the prior week, according to the data reported by Bloomberg’s Julian Lee.

So far this month, Russian crude oil exports by sea have stayed at some 640,000 bpd below the high levels in April and June.

In September, Russia is easing its oil export cut to 300,000 bpd from 500,000 bpd pledged for August. Moscow extended early this month the 300,000-bpd cut until the end of the year, joining fellow OPEC+ producer Saudi Arabia in announcing an extension of the supply cuts.

Russia has said its 300,000 bpd export cut is with the option to review every month and potentially deepen the cuts or increase supply, according to market conditions.

Going forward, Russian crude oil exports could be headed for a rebound after the drop due to port maintenance, as refinery maintenance at home is at its seasonal peak.

The primary oil refining capacity that will be offline in Russia is set to soar by 44% in September compared to August amid seasonal maintenance, according to Reuters estimates based on data from industry sources.

As much as 4.635 million metric tons of Russia’s refining capacity is expected to be offline this month, industry sources have told Reuters.

While crude oil shipments could rise in the coming weeks, Russian fuel exports are set to dip, at least temporarily, after Moscow announced a temporary ban on exports of gasoline and diesel to stabilize domestic fuel prices which have been soaring due to higher crude prices and a weak Russian ruble.ty is expected to be offline this month, industry sources have told Reuters.

end

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

CANADA/

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: 1.0540 DOWN 0.0029

USA/ YEN 149.20 UP 0.150 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2137 DOWN 0.0009

USA/CAN DOLLAR: 1.3534 UP .0014 (CDN DOLLAR DOWN 14 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 5.04 PTS OR 0.16%

Hang Seng CLOSED UP 144.97 PTS OR 0.83%

AUSTRALIA CLOSED DOWN 0.12% // EUROPEAN BOURSE: MOSTLY MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: MOSTLY MIXED

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 144.97 PTS OR 0.43%

/SHANGHAI CLOSED UP 5.04 PTS OR 0.16%

AUSTRALIA BOURSE CLOSED DOWN 0.12%

(Nikkei (Japan) CLOSED UP 56.85 PTS OR 0.18%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1893,45

silver:$22.78

USA dollar index early WEDNESDAY morning: 106.17 UP 24 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY MORNING NUMBERS ENDS

III) USA ECONOMIC STORIES

TARGET

Target To Shutter Nine Stores In Major Cities After Being Targeted By Violence, Theft

TUESDAY, SEP 26, 2023 – 05:45 PM

Retail giant Target on Tuesday announced the closure of nine stores in major cities across the US, citing violence, theft and organized retail crime. The news comes on the heels of a warning from the company that lost or stolen inventory has created a $500 million dent in profitability this year.

“We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,” the company said in a press statement. “We know that our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all.”

According to CNBC, the company will close one store in Harlem, two stores in Seattle, three stores in the San Francisco-Oakland Bay Area, and three more in Portland, Oregon.

According to CNBC, Target, which has nearly 2,000 stores in the U.S., has been outspoken about organized retail crime at its stores. It has said theft has driven higher levels of shrink, an industry term used to describe losses from goods that were damaged, misplaced or stolen.

With today’s announcement, Target also stands apart in its decision to both shutter stores and to explicitly blame that decision on retail crime.

When asked in May if the company planned to close stores due to crime, CEO Brian Cornell said “We do not want to close stores. We know how important our stores are. They create local jobs, they generate taxes, they’re very important for those local shoppers, and they play a critical role in communities across the country.”

“We’ll continue to do everything in our power to keep our doors open,” he added. “At the same time, we’ll be closely monitoring the safety of our team and guests as well as the financial impact to our business as we determine the right path forward at Target.”

Target also noted in its Tuesday release that the company supports the passage of the ‘Combating Organized Retail Crime Act,’ which proposes stiffer penalties for theft offenses, and calls for a change in the threshold which must be met by prosecutors before bringing federal theft cases. The Act would also provide retailers with a formal venue to trade information with each other, and law enforcement, through a proposed Organized Retail Crime Coordination Center.

Nine states have passed similar laws since 2022 (six so far this year), which have been supported by retailers and trade associations.

This goes way beyond just crime…

Target’s plight uncovers more layers of operational decay. The company’s struggles, spanning over a year, include an alarming buildup of unsold inventory, backlash against its Pride merchandise collection, and an evident pullback in consumer expenditure on non-essential items such as apparel and home goods.

In an uncharacteristic admission during an earnings call in August of last year, the company – alongside other retailers, highlighted the unexpected blow to profits caused by higher markdowns, along with desperate attempts to offload unpopular merchandise. A surge in inventories predictably correlates with a rise in shrink, leaving a dent in the retail margins, a situation previously unmentioned by Target in the last two decades.

Meanwhile, the introduction of locked cases for merchandise, hiring of third-party guard services, extensive training for store leaders in de-escalation tactics, and considerable investment in cyber defense to counteract fraud and organized crime have failed to make a meaningful difference.

“Despite our efforts, unfortunately, we continue to face fundamental challenges to operating these stores safely and successfully,” the company said in the release.

Target’s announcement, aligning with the release of the National Retail Federation’s latest National Retail Security Survey, sheds light on the nebulous shrink data. Despite a surge to $112 billion in 2022 from $93.9 billion the previous year, the shrink impact on retail bottom lines mirrors past patterns, with an average annual increase from 1.44% in 2021 to 1.57% in 2022.

In the wake of store closures across major cities, Target joins the ranks of Walmart, Nordstrom, and Walgreens Boots Alliance, which are all experiencing similar pain.

END

Musk Warns Biden-Backed 40% UAW Pay-Hike Risks Big 3 Bankruptcy (Again)

TUESDAY, SEP 26, 2023 – 02:50 PM

Update (1450ET):

Elon Musk is correct. The risk of UAW’s 40% pay hike for its 150,000 members at the “Big Three” US automakers – General Motors, Ford, and Chrysler – could send them spiraling into bankruptcy once again.

Musk said while responding to our post, “They want a 40% pay raise *and* a 32-hour workweek. Sure way to drive GM, Ford, and Chrysler bankrupt in the fast lane.”

They want a 40% pay raise *and* a 32 hour workweek. Sure way to drive GM, Ford and Chrysler bankrupt in the fast lane.— Elon Musk (@elonmusk) September 26, 2023

The last time the automotive industry was in a crisis was when Biden was vice president. During that time, automakers received a bailout from then-President Obama.

Even the corporate press has had to admit that Tesla benefits from the union chaos in Detroit.

* * *

Update (1335ET):

A reporter asked Biden: “Mr. President, should the UAW get a 40% [pay] increase?”

The president responded: “Yes.”

Here is the moment when President Biden expressed agreement that the UAW’s demands for a 40% pay hike over a new four-year contract with automakers should be considered.

“Mr. President, should the UAW get a 40% [pay] increase?”

BIDEN: *confused* pic.twitter.com/Ya8LbCOimv— RNC Research (@RNCResearch) September 26, 2023

To confirm we understood what bumbling Biden said in the video, Bloomberg also verified this.

We have noted that the auto industry workforce is set to contract in the years ahead under Biden’s Green New Deal as manufacturers pivot towards EVs that require fewer workers.

Also, Morgan Stanley’s auto strategist, Adam Jonas, recently warned clients that a surge in labor inflation among automakers could complicate the math for onshoring production in the US.

But beyond the 1-time losses, Jonas says he is much more concerned about the potential for 30 to 40% labor inflation over the life of the next 4-year contract and how the domestic auto companies may recalibrate their ROIC and payback math for EV onshoring. The MS strategist thinks the outcome will be greater austerity and focus on the ICE run-off (that, however, would make many more workers redundant as EVs require far less mechanical intervention than ICEs).

One River CIO, Eric Peters, said if UAW Boss Shawn Fain’s demands are met, the average hourly wage for union members would be north of $136.

Detroit automaker unionized labor costs, including wages and benefits, are estimated at an average of $66/hour. That compares with $45 at Tesla, which isn’t unionized, and $55 for Asian automakers.

Meeting all of Fain’s initial demands would boost average hourly labor costs to an estimated $136/hour.

Fein claims to be matching the roughly 40% compensation gains automaker CEOs have realized in the past decade. Ford’s CEO made $22mm last year. Stellantis’s $24.8mm. GM’s nearly $29mm.

… and another problem: the consumer will have to pay even higher prices after automakers pass-through all the wage increases.

Automakers will immediately pass through all wage increases to car prices. https://t.co/COl9DOTVgq— zerohedge (@zerohedge) September 26, 2023

It’s unprecedented for the president to walk the picket line. Presidents historically avoid strikes and usually act as mediators.

Does the White House even understand how inflation is created?

* * *

Update (1308ET):

President Biden and UAW Boss Shawn Fain arrive at picket lines.

* * *

Update (1230 ET):

Biden lands in Detroit.

Air Force One lands at Detroit for President Biden’s trip to Michigan to visit UAW members on strike at the picket line#UAWStrike #UAWSolidarity pic.twitter.com/yQ9QEHjyQT— Attentive Media (@AttentiveCEE) September 26, 2023

No EVs in Biden’s motorcade.

President Biden has arrived in Detroit, to join a UAW picket line. pic.twitter.com/rnjWGAZwhm— Matt Viser (@mviser) September 26, 2023

* * *

On the twelfth day of strikes, President Biden plans to stand with striking United Auto Workers members on the picket lines in Wayne County, Michigan, a day before a scheduled visit to the state by former President Trump.

Reuters said Biden will join UAW members in Wayne County around 1200 ET on Tuesday. Sources said UAW boss Shawn Fain is also expected to join the most pro-union president in history.

On Monday, Biden said, “I think the UAW gave up an incredible amount back when the automobile industry was going under [GFC]. They gave everything from their pensions on, and they saved the automobile industry.”

“Now that the industry is roaring back they should participate in the benefits,” the president added.

Remember, Biden was VP when former President Obama bailed out the auto industry over a decade ago.

Erik Loomis, a University of Rhode Island professor and an expert on labor history, told AP News that Biden standing at the picket lines is “absolutely unprecedented. No president has ever walked a picket line before.”

Loomis said presidents historically “avoided direct participation in strikes. They saw themselves more as mediators. They did not see it as their place to directly intervene in a strike or in labor action.”

I’m out at the Ford Assembly Plant in Wayne, MI awaiting Biden’s appearance to join UAW strikers. pic.twitter.com/NEfLAT9rri— Tessa (@OsborneTessa) September 26, 2023

Coming up live from Michigan UAW Local 900 as autoworkers continue their strike and are joined today and tomorrow by special guests, President Biden today and former President Trump tomorrow. pic.twitter.com/aDphG29Ywt— Kellie Meyer (@KellieMeyerNews) September 26, 2023

Union Auto Workers (#UAW) strike against the big three automakers: Ford, Stellantis, and General Motors in Wayne, Michigan.
President #Biden is expected to arrive soon, but the exact location where he will be is unknown. pic.twitter.com/48VE4ak5eX— Madalina Vasiliu (@mada7ina) September 26, 2023

The ongoing strike has yet to reach a resolution for a new labor agreement between the union and Detroit’s Big Three: Ford, GM, and Stellantis. UAW is demanding approximately a 40% wage increase over a new four-year contract along with a 32-hour work week, while the automakers are proposing around 20%.

Ford announced on Sunday that there were still “significant gaps to close” in negotiations with the union. A recent Deutsche Bank note shows the union and automakers are still far apart.

The latest data from The New York Times shows about 12% of the 150,000-member union is on strike, equivalent to about 18,300 workers. Strikes are nationwide.

And on Wednesday, Trump is expected to address hundreds of workers at a non-union auto supplier in a Detroit suburb.

Meanwhile, there are strikes at Tesla – the most American-made automobile.

END

III) USA ECONOMIC STORIES

TARGET

Target To Shutter Nine Stores In Major Cities After Being Targeted By Violence, Theft

TUESDAY, SEP 26, 2023 – 05:45 PM

“We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,” the company said in a press statement. “We know that our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all.”

According to CNBC, the company will close one store in Harlem, two stores in Seattle, three stores in the San Francisco-Oakland Bay Area, and three more in Portland, Oregon.

With today’s announcement, Target also stands apart in its decision to both shutter stores and to explicitly blame that decision on retail crime.

Nine states have passed similar laws since 2022 (six so far this year), which have been supported by retailers and trade associations.

This goes way beyond just crime…

“Despite our efforts, unfortunately, we continue to face fundamental challenges to operating these stores safely and successfully,” the company said in the release.

In the wake of store closures across major cities, Target joins the ranks of Walmart, Nordstrom, and Walgreens Boots Alliance, which are all experiencing similar pain.

END

Musk Warns Biden-Backed 40% UAW Pay-Hike Risks Big 3 Bankruptcy (Again)

TUESDAY, SEP 26, 2023 – 02:50 PM

Update (1450ET):

Musk said while responding to our post, “They want a 40% pay raise *and* a 32-hour workweek. Sure way to drive GM, Ford, and Chrysler bankrupt in the fast lane.”

They want a 40% pay raise *and* a 32 hour workweek. Sure way to drive GM, Ford and Chrysler bankrupt in the fast lane.— Elon Musk (@elonmusk) September 26, 2023

The last time the automotive industry was in a crisis was when Biden was vice president. During that time, automakers received a bailout from then-President Obama.

Even the corporate press has had to admit that Tesla benefits from the union chaos in Detroit.

* * *

Update (1335ET):

A reporter asked Biden: “Mr. President, should the UAW get a 40% [pay] increase?”

The president responded: “Yes.”

Here is the moment when President Biden expressed agreement that the UAW’s demands for a 40% pay hike over a new four-year contract with automakers should be considered.

“Mr. President, should the UAW get a 40% [pay] increase?”

BIDEN: *confused* pic.twitter.com/Ya8LbCOimv— RNC Research (@RNCResearch) September 26, 2023

To confirm we understood what bumbling Biden said in the video, Bloomberg also verified this.

We have noted that the auto industry workforce is set to contract in the years ahead under Biden’s Green New Deal as manufacturers pivot towards EVs that require fewer workers.

Also, Morgan Stanley’s auto strategist, Adam Jonas, recently warned clients that a surge in labor inflation among automakers could complicate the math for onshoring production in the US.

But beyond the 1-time losses, Jonas says he is much more concerned about the potential for 30 to 40% labor inflation over the life of the next 4-year contract and how the domestic auto companies may recalibrate their ROIC and payback math for EV onshoring. The MS strategist thinks the outcome will be greater austerity and focus on the ICE run-off (that, however, would make many more workers redundant as EVs require far less mechanical intervention than ICEs).

One River CIO, Eric Peters, said if UAW Boss Shawn Fain’s demands are met, the average hourly wage for union members would be north of $136.

Detroit automaker unionized labor costs, including wages and benefits, are estimated at an average of $66/hour. That compares with $45 at Tesla, which isn’t unionized, and $55 for Asian automakers.

Meeting all of Fain’s initial demands would boost average hourly labor costs to an estimated $136/hour.

Fein claims to be matching the roughly 40% compensation gains automaker CEOs have realized in the past decade. Ford’s CEO made $22mm last year. Stellantis’s $24.8mm. GM’s nearly $29mm.

… and another problem: the consumer will have to pay even higher prices after automakers pass-through all the wage increases.

Automakers will immediately pass through all wage increases to car prices. https://t.co/COl9DOTVgq— zerohedge (@zerohedge) September 26, 2023

It’s unprecedented for the president to walk the picket line. Presidents historically avoid strikes and usually act as mediators.

Does the White House even understand how inflation is created?

* * *

Update (1308ET):

President Biden and UAW Boss Shawn Fain arrive at picket lines.

* * *

Update (1230 ET):

Biden lands in Detroit.

Air Force One lands at Detroit for President Biden’s trip to Michigan to visit UAW members on strike at the picket line#UAWStrike #UAWSolidarity pic.twitter.com/yQ9QEHjyQT— Attentive Media (@AttentiveCEE) September 26, 2023

No EVs in Biden’s motorcade.

President Biden has arrived in Detroit, to join a UAW picket line. pic.twitter.com/rnjWGAZwhm— Matt Viser (@mviser) September 26, 2023

* * *

Reuters said Biden will join UAW members in Wayne County around 1200 ET on Tuesday. Sources said UAW boss Shawn Fain is also expected to join the most pro-union president in history.

“Now that the industry is roaring back they should participate in the benefits,” the president added.

Remember, Biden was VP when former President Obama bailed out the auto industry over a decade ago.

I’m out at the Ford Assembly Plant in Wayne, MI awaiting Biden’s appearance to join UAW strikers. pic.twitter.com/NEfLAT9rri— Tessa (@OsborneTessa) September 26, 2023

Coming up live from Michigan UAW Local 900 as autoworkers continue their strike and are joined today and tomorrow by special guests, President Biden today and former President Trump tomorrow. pic.twitter.com/aDphG29Ywt— Kellie Meyer (@KellieMeyerNews) September 26, 2023

Union Auto Workers (#UAW) strike against the big three automakers: Ford, Stellantis, and General Motors in Wayne, Michigan.
President #Biden is expected to arrive soon, but the exact location where he will be is unknown. pic.twitter.com/48VE4ak5eX— Madalina Vasiliu (@mada7ina) September 26, 2023

Ford announced on Sunday that there were still “significant gaps to close” in negotiations with the union. A recent Deutsche Bank note shows the union and automakers are still far apart.

The latest data from The New York Times shows about 12% of the 150,000-member union is on strike, equivalent to about 18,300 workers. Strikes are nationwide.

And on Wednesday, Trump is expected to address hundreds of workers at a non-union auto supplier in a Detroit suburb.

Meanwhile, there are strikes at Tesla – the most American-made automobile.

END

Hunter Biden Used Dad’s Classified Doc House For $250K Chinese Wire Transfer

TUESDAY, SEP 26, 2023 – 08:25 PM

Hunter Biden used his Dad’s Delaware home where classified documents were found strewn about the garage to receive more than $250,000 in Chinese wire transfers, according to the House Oversight Committee.

The wires were from Wang Xin and Jonathan Li, the latter of whom ran a Chinese private equity fund (BHR) which Hunter was listed as being on the board of directors. Hunter also arranged for a meeting between Li and Joe Biden while Joe was VP, while Joe allegedly gave Li’s son a letter of recommendation.

Here’s the breakdown of events from the Committee:

2009-2017: During his time as Vice President and prior to later payments to Hunter Biden, evidence shows Joe Biden developed a familiar relationship with Jonathan Li. Devon Archer, a Biden business associate, described how Joe Biden met with Jonathan Li for coffee in Beijing, China, had a phone call with him, and wrote college recommendation letters for his children.

April 25, 2019: Joe Biden announced his candidacy in the 2020 presidential election.

July 26, 2019: Wang Xin wired $10,000 with Joe Biden’s home listed on the wire.

August 2, 2019: Jonathan Li wired $250,000 with Joe Biden’s home listed on the wire.

October 13, 2019: George Mesires, who served as Hunter Biden’s lawyer, stated, in part, that Hunter Biden served with BHR “only as a member of its board of directors,” which was purportedly an “unpaid position.”

October 22, 2020: During a presidential debate, Joe Biden said, “My son has not made money […] in China.”

Of note, Hunter was living at the Wilmington house while he was raking in millions of dollars from CCP-linked business dealings.

Hunter was living there…

Seamus Bruner (researcher for legendary bombshell-dropper Peter Schweizer), reports via Breitbart News, that “While addicted to drugs, cavorting with prostitutes, and making deals with businessmen tied to the highest levels of Chinese intelligence, Hunter Biden lived in the house where Joe Biden stored classified documents.”

Second, the Washington Free Beacon reported in January that photos from Hunter Biden’s abandoned laptop place him at the Wilmington House in July, 2017. Of note, the classified documents were reportedly brought to the house in January of that year.

The photos ‘are the most concrete evidence to date’ that Hunter – who was actively negotiating a deal with a CCP-linked Chinese energy company – had access to areas of his father’s home where classified documents were stored.

A Washington Free Beacon review of the laptop found four 2017 photographs of Hunter Biden, clad in a white collared shirt and a camouflage baseball cap, behind the wheel of his father’s 1967 Corvette Stingray. GPS metadata embedded in the photos indicate they were taken within a minute of each other at 6:49 p.m. on July 30 of that year, just outside the president’s Wilmington, Del., residence. The photos show Hunter Biden posing in the vehicle beside two young girls. One appears to be his then-12-year-old niece, Natalie Biden. The other could not be identified.

And as the Beacon further reports – corroborating Breitbart‘s reporting, “At the time the photos were taken, Hunter Biden was negotiating a lucrative business deal with the now-defunct Chinese energy conglomerate CEFC, which was closely tied to the Chinese government. Biden’s former business partner Tony Bobulinski claimed to have met with Joe Biden in person in early May 2017—less than three months before Hunter Biden was pictured taking the wheel of his father’s prized vehicle—to discuss the Biden family’s Chinese business dealings.”

In total, CEFC paid Hunter Biden $6 million in legal and consulting fees in 2017 and 2018.

So, lies upon lies from the Bidens.

end

‘Missing’ Biden Whistleblower (Who Garland Indicted) Offers Dirt On FBI ‘Mole’ Who Tipped Off Hunter

TUESDAY, SEP 26, 2023 – 10:05 PM

‘Missing’ Israeli whistleblower Gal Luft, who was indicted by the Biden administration for failing to register under the Foreign Agents Act (FARA), has offered new evidence to the House impeachment inquiry about an FBI mole who tipped off Hunter Biden that his Chinese partners were about to be indicted, according to the NY Post‘s Miranda Devine.

Luft was also charged with conspiracy to illegally sell weapons to Chinese individuals and companies, as well as aerial bombs and rockets to the UAE, Chinese weapons to Kenya, and Iranian oil to other countries in violation of sanctions.

He was initially arrested Feb. 17 in Cyprus, but fled after being released on bail. He faces up to 100 years in prison if convicted.

The Israeli professor and former Israel Defense Forces officer has been on the run for six months after skipping bail in Cyprus, where he was awaiting extradition to the United States on gun-running and foreign lobbying charges, also brought by the SDNY.

In an open letter to Reps James Comer (R-Ky.), Jim Jordan (R-Ohio) and Jason Smith (R-Mo.), the three House committee chairmen running the impeachment inquiry, Luft claims that the tipoff to Chinese executives of CEFC came on the same day that the first son wrote a WhatsApp message shaking down another CEFC employee for millions of dollars over a “highly confidential and time sensitive” matter while claiming his father was in the room with him.

“I am sitting here with my father, and we would like to understand why the commitment made has not been fulfilled,” Hunter wrote in a July 30, 2017 message to CEFC employee Raymond Zhao, which was presented to Congress during June testimony by IRS whistleblower Gary Shapley.

“I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge that you will regret not following my direction. I am sitting here waiting for the call with my father.”

That night, after Hunter’s threatening message, CEFC executive Partrick Ho received an urgent call from CEFC president Chan Chauto, who told him to leave the United States immediately, according to Luft, who frequently spoke with Ho.

Ho flew to Hong Kong the next day.

In a follow-up WhatsApp, Zhao told Hunter that “CEFC is willing to cooperate with the family. He thinks now the priority is to solve the problem mentioned last night.”

According to Luft, the “problem” and the “highly confidential and time sensitive” matter was the secret indictments from the SDNY which Hunter was tipped off about.

Nine days after Hunter’s WhatsApp shakedown, CEFC wired $5.1 million to entities in the US to transfer to Hunter.

Luft – who flew to Hong Kong to deal with Ho on Aug. 14, 2017 (two weeks after Ho fled), says the Chinese nickname for the FBI mole was “One-Eye.”

“The existence of a potential mole within the FBI and/or Justice Department who conveyed to Chinese individuals information about sealed indictments has, apparently, to this day never been solved,” Luft wrote to Comer, adding “Perhaps Congress should investigate the issue as part of its impeachment inquiry.”

The tipoff to CEFC executives came at a crucial stage in their negotiations to buy into Russian state-owned energy company Rosneft and came just 10 days before a curious meeting between a CEFC employee in Albania and disgraced G-man Charles McGonigal, then counterintelligence boss at the FBI’s New York Field Office, which had been surveilling Ho and his associates. McGonigal pleaded guilty Friday to concealing at least $225,000 in cash payments from a former Albanian intelligence official.

On Sept. 8, 2017, CEFC announced its plans to acquire a $9.1 billion stake in Rosneft.

On Sept. 9, 2017, McGonigal met Dorian Ducka, a CEFC employee and Hunter Biden associate, in Albania, according to his indictment. Albanian Prime Minister Edi Rama also was at the meeting. At Ducka’s request, McGonigal urged Rama to be careful about awarding oil field drilling licenses in Albania to Russian front companies.

On Sept. 10, 2017, Hunter signed an attorney engagement letter to represent CEFC’s Ho for a $1 million retainer. -NY Post

Luft also says that sometime around September 2017, Hunter and his uncle Jim Biden flew to Hong Kong to meet with Ho, who they asked to buy them two “burner” phones. They told him that the coast was clear to return to the US, however upon his arrival at JFK Airport on Nov. 17, 2017, Ho was arrested by the Trump DOJ on charges of bribery and money laundering.

Ho’s first call? Jim Biden, looking for Hunter.

Hunter reached out to lawyer Edward Kim, who asked Hunter in an email the afternoon of Ho’s arrest to “find the names of the FBI agents you spoke with, that would be helpful.”

“Working on it,” Hunter replied.

FBI Agent testifies

And in yet another breadcrumb of corruption, an FBI supervisor has corroborated key aspects of testimony by two IRS whistleblowers, who say that federal prosecutors slow-walked Hunter’s criminal probe, and refused to bring tax charges in LA and Washington DC, according to a transcript of an interview reviewed by Just the News.

The female FBI supervisor, whose name the Justice Department asked be kept private in the transcript, was interviewed recently by the House Judiciary Committee, and she chronicled her interactions with IRS agents Gary Shapley and Joseph Ziegler and Delaware U.S. Attorney David Weiss, the lead prosecutor in the Hunter Biden probe.

While the agent said she had different recollections than her IRS colleagues about certain aspects of the case and did not believe politics caused any delays, she confirmed there were instances in which prosecutors slowed the investigation.

Specifically, she confirmed agents were concerned that the DOJ tried to use the 2022 midterm elections to delay action in the Hunter Biden case even though his father was not up for election last year.

“I know that that had come up,” said the agent, who worked in the Baltimore office which supervised cases in Delaware.

“Delays related to the election?” she was asked.

“Yes, I noted that had come up,” she replied.

Read the rest here…

END

A distraction!

(zerohedge)

Trump Rages At “Deranged” NY Judge’s ‘Corporate Death Penalty’ Decision

WEDNESDAY, SEP 27, 2023 – 08:25 AM

Nazis in Canada’s Congress; Chinese money sent to Joe Biden’s address; CIA busted using Fauci as patsy to hide COVID source; border crisis at max dissonance; Biden’s ratings at record lows; West losing focus on Ukraine war…

If ever a ‘distraction’ was needed it was now… and the playbook says ‘Get Trump’.

Right on cue, in a stunning decision on Tuesday, a New York State judge found – with no trial or jury decision – that the Donald Trump, his family, and his business, theTrump Organization, was liable for fraud, and ordered what experts in New York financial crimes say amounts to the dissolution of his company.

In a 35-page ruling, Manhattan Supreme Court Justice Arthur Engoron revoked the New York “business certificates” belonging to the Trump Organization and any other New York-based business run by Trump or his family – while ordering that an independent third party will be tasked with “managing the dissolution of the cancelled LLCs.”

“It’s a staggering judgement,” said John Moscow, a former financial crimes prosecutor for the Manhattan district attorney’s office.

“It means you are no longer a company, and the judge is appointing someone to take over the assets and distribute them as the court sees fit.”

“It’s comparable to once a person dies. A dead person can’t sell property. Only the executor of the estate can do that – or in this case, the receiver.”

Experts are calling it the “corporate death penalty.”

As Sundance at TheConservativeTreehouse.com put it:

“All the banks and lenders did their own due diligence on the financing.

All operational loans and business loans were paid back.

There were no defaults or banking interests adversely impacted.

There are no victims of what the State calls “fraud,” yet the judge is ruling the Trump organization must dissolve all business interests in the state and exit within 10 days.”

As you might expect, President Trump was enraged, blasting “The widespread, radical attack against me, my family and my supporters have now devolved to new, un-American depths,” calling Engoron “deranged” and James a “completely biased and corrupt ‘prosecutor.’”

“We are rapidly becoming a communist country, and my civil rights have been taken away from me,” he continued.

“This is Democrat political lawfare and a witch hunt at a level never seen before.”

Trump plans to appeal the decision, his attorneys said.

“Today’s outrageous decision is completely disconnected from the facts and governing law,” Christopher Kise, a lawyer for Trump, said in a statement.

“President Trump and his family will seek all available appellate remedies to rectify this miscarriage of justice.”

Distraction, mission accomplished?

THE KING REPORT

GREG HUNTER

see you on THURSDAY

SEPT 27//PRELIMINARY COMEX DATA//EARLY MORNING TRADING/DATA//TRADING FROM ASIA AND EUROPE//COVID UPDATES//VACCINE UPDATES/SLAY NEWS/EVOL NEWS//NEWS ADDICTS//OIL PRICES//UKRAINE VS RUSSIA UPDATES//SWAMP STORY //

Shanghai Gold Benchmark Price

NEW YORK PRICE AT THE SAME TIME: $1905.00

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2023. CONTRACT: 30 NOTICES FOR 3,000 OZ or 0.0933 TONNES

total notices so far: 4895 contracts for 489,500 oz (15.225 tonnes)

FOR SEPT:

SILVER NOTICES: 1 NOTICE(S) FILED FOR 5,000 OZ/

total number of notices filed so far this month : 2694 for 13,470,000 oz

2.ASIAN AFFAIRS//

WEDNESDAY MORNING//TUESDAY NIGHT

a)NORTH KOREA/SOUTH KOREA

b) REPORT ON JAPAN/

3 CHINA

4/EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6.Global Issues//COVID ISSUES/VACCINE ISSUES

7. OIL ISSUES

8 EMERGING MARKET ISSUES

Futures Rebound After Tuesday Rout As Rates Drop