OCT 13/LAST NIGHT ISRAEL GAVE NORTH GAZANS 24 HOURS TO SETTLE IN THE SOUTHERN PART OF GAZA AS OBVIOUSLY ISRAEL IS SET TO INVADE GAZA AND THAT PROPELS OUR PRECIOUS METALS; GOLD CLOSED UP $57.60 TO $1927.80 WHILE SILVER WAS UP 90 CENTS TO $22.70//PLATINUM WAS UP $12.50 TO $883.40 AND PALLADIUM WAS ALSO UP $4.35 TO $1146.75/IMPORTANT READS TODAY: ALASDAIR MACLEOD//GOOD VIDEO OF ANDREW MAGUIRE TALKING TO BILL HOLTER//UPDATES ON THE ISRAEL-HAMAS WAR INCLUDING HAMAS FIRING A LONG RANGE MISSILE AT SAFAT ISRAEL//ARAB NATIONS SENDING MANY TO THE BORDER OF ISRAEL DEFENDING THE ACTIONS OF HAMAS//COVID UPDATES/VACCINE UPDATES//DR PAUL ALEXANDER//SLAY NEWS/EVOL NEWS/NEWS ADDICTS//MORE DEPOSITS LEAVE USA BANKS//SWAMP STORIES FOR YOU TONIGHT//
GOLD: NUMBER OF NOTICES FILED FOR OCT/2023. CONTRACT: 2 NOTICES FOR 200 OZ or .00622 TONNES
total notices so far: 9658 contracts for 965,800 oz (30.040 tonnes)
FOR OCT:
SILVER NOTICES:7 NOTICE(S) FILED FOR 35,000 OZ/
total number of notices filed so far this month : 479 for 2,395,000 oz
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END
GLD
WITH GOLD UP $57.60
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / NO CHANGES IN GOLD INVENTORY AT THE GLD: //
INVENTORY RESTS AT 862.37 TONNES
Silver//
WITH NO SILVER AROUND AND SILVER UP 90 CENTS AT THE SLV// A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.375 MILLION SILVER OZ FROM THE SLV
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 450.394 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY STRONG SIZED 583CONTRACTS TO 127,816 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS STRONG SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR $0.19 LOSS IN SILVER PRICING AT THE COMEX ON THURSDAY. TAS ISSUANCE WAS A MEGA HUMONGOUS SIZED 2108 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 THURDAY NIGHT: 2108 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 WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.19). BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUMONGOUS SIZED GAIN OF 1320 OI CONTRACTS ON OUR TWO EXCHANGES.
WE MUST HAVE HAD:
A GOOD ISSUANCE OF EXCHANGE FOR PHYSICALS( 450 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.530 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 35,000 OZ QUEUE JUMP + 200 CONTRACTS OF EXCHANGE FOR RISK FOR 1.0 MILLION OZ TODAY+ 2.0 MILLION OZ EXCHANGE FOR RISK PRIOR //NEW STANDING IS THUS 2.500 MILLION OZ NORMAL SILVER DELIVERY + 3.0 EXCHANGE FOR RISK = 5.50 MILLION OZ/////HUGE SIZED COMEX OI GAIN/ GOOD SIZED EFP ISSUANCE/VI) MEGA HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 2108CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 287 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS OCT ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF OCT:
TOTAL CONTRACTS for 9 days, total 12,329 contracts: OR 61.645 MILLION OZ (1369 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 61.645 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: 112.58MILLION 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: 72.705 MILLION OZ (SMALLER THIS MONTH)
OCT: 61.645 MILLION OZ (THIS IS GOING TO BE A STRONG MONTH FOR EFP ISSUANCE//
RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 583 CONTRACTS DESPITE OUR LOSS IN PRICE OF $0.19 IN SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A GOOD EFP ISSUANCE CONTRACTS: 450 ISSUED FOR OCT AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. . WE HAVE A SMALL INITIAL SILVER OZ STANDING FOR SEPT OF 1.532 MILLION OZ FOLLOWED BY TODAY’S 35,000 OZ QUEUE JUMP:+ A NEW ISSUANCE OF 200 CONTRACTS OF EXCHANGE FOR RISK FOR 1.0 MILLION OZ. THUS NEW TOTAL OF SILVER STANDING: 2.5 MILLION OZ+ 3.0 MILLION OZ EXCHANGE FOR RISK = 5.50 MILLION OZ//// /// WE HAVE A HUMONGOUS SIZED GAIN OF 1033 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A MEGA HUGE SIZED 2108CONTRACTS//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION. THE NEW TAS ISSUANCE THURSDAY NIGHT A HUGE (2108) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .
WE HAD 7 NOTICE(S) FILED TODAY FOR 35,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 1576 CONTRACTS TO 436,862 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – REMOVED 627 CONTRACTS
WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 1576 CONTRACTS) WITH OUR $3.00 LOSS IN PRICE//THURSDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR SEPT. AT 16.562 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S STRONG 1700 OZ QUEUE JUMP/NEW STANDING 31.169 TONNES/ + /A HUGE (AND CRIMINAL) ISSUANCE OF 3654 T.A.S. CONTRACTS /// ALL OF..THIS HAPPENED WITH OUR$3.00 LOSS IN PRICEWITH RESPECT TO THURSDAY’S TRADING.WE HAD A SMALL SIZED GAIN OF 403 OI CONTRACTS (1.25 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 1979CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 436,862
IN ESSENCE WE HAVE A SMALL SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 403 CONTRACTS WITH 1576 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 1979 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 403CONTRACTS OR1.25TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A VERY STRONG 3654 CONTRACTS)
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1949 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (1576) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 403 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR OCT. AT 16.562 TONNES FOLLOWED BY TODAY’S 1700 OZ QUEUE JUMP//NEW STANDING 31.169 TONNES// /// 3) ZERO LONG LIQUIDATION AND SOME TAS LIQUIDATION AND CONSIDERABLE SPEC SHORT COVERINGS DURING THE COMEX SESSION //4) FAIR SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: STRONG T.A.S. ISSUANCE: 3654 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY
OCT
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF OCT :
TOTAL EFP CONTRACTS ISSUED: 36,684 CONTRACTS OR 3,668,400 OZ OR 114.103 TONNES IN 9 TRADING DAY(S) AND THUS AVERAGING: 4096 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 9TRADING DAY(S) IN TONNES 107.95 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 114.103/3550 x 100% TONNES 3.94% OF GLOBAL ANNUAL PRODUCTION
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: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 114.103 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
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 583 CONTRACTS OI TO 127,816 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 GOOD 450 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 450and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 450 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 583 CONTRACTS AND ADD TO THE 450 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1033 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 5.165 MILLION OZ
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//
FRIDAY MORNING//THURSDAY NIGHT
SHANGHAI CLOSED DOWN 19.80 PTS OR .64% //Hang Seng CLOSED DOWN 424.76 PTS OR 2.32% /The Nikkei CLOSED DOWN 178.67 PTS OR 0.55% //Australia’s all ordinaries CLOSED DOWN 0.60 % /Chinese yuan (ONSHORE) closed DOWN AT 7.3073 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.3083 /Oil UP TO 86.31 dollars per barrel for WTI and BRENT DOWN AT 89.51/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 1576CONTRACTS TO 436.862 WITH OUR LOSS IN PRICE OF $3.00 ON THURSDAY.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF OCT..… THE CME REPORTS THAT THE BANKERS ISSUED A FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 1979 EFP CONTRACTS WERE ISSUED: : DEC 1979 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1979 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A SMALL SIZED TOTAL OF 403 CONTRACTS IN THAT 1979LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 1576 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $3.00//THURSDAY 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 VERY STRONG 3654 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: OCT (31.169) ( 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: 15.281 TONNES FINAL
OCT. 31.169 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $3.00) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A SMALL GAIN OF 403TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING. THE T.A.S. ISSUED ON THURSDAY 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 3.204 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT. (16.562 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1700 OZ QUEUE JUMP//NEW TOTALS STANDING:31.169 TONNES ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $3.00. FOR THE PAST FEW WEEKS, THE SPECULATORS HAVE GONE MASSIVELY SHORT WITH OUR BANKERS NET LONG. THE BIG QUESTION IS NOW HOW MUCH GOLD WILL THE BANKERS PULL FROM OUR SHORT SPECULATORS.
WE HAD REMOVED 627 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST
NET GAIN ON THE TWO EXCHANGES 403 CONTRACTS OR 40,300 OZ OR 1.25 TONNES.
Total monthly oz gold served (contracts) so far this month
9658 notices 965,800 OZ 30.040 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
x
0 dealer deposit:
total dealer deposits: 0 oz
customer deposits: 0
total customer deposits: 0 oz
we had 2 customer withdrawals
i) Out of HSBC: 4822.650 oz (150 kilobars)
ii) Out of Loomis 6365.898 oz (198 kilobars)
total withdrawals 11.188.548 oz
Adjustments; 5//huge activity//all dealer to customer
i) JPMorgan 43,998.026 oz
ii) Malca 10,281.819 oz
iii) Manfra 4032.045 oz
iv) Asahi: 6970.406 oz
v) Brinks 10,995.639 oz
total adjusted 76,277.935 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.
For the front month of OCTOBER we have an oi of 365 contracts having LOST 28 contracts. We had 45 contracts filed on Thursday, so we gained another strong 17 contracts or an additional 1700 oz will stand for delivery in this active delivery month of October. Somebody, for the 9th day in a row, was in urgent need of a huge supply of physical gold over here. Also please note the large EFP issuances for the comex gold contracts. Our short speculators have been met with physical delivery demands by the bank. The only way they can obtain gold is through these EFP’s where delivery is taken in London on a T + 2 basis. As I reported to you, we have witnessed large sums of physical gold leave the comex: yesterday it was 71,000 oz or 2.2 tonnes of gold
NOV LOST 16 CONTRACTS to stand at 1449
December LOST 2609 contracts up to 359,904 contracts.
We had 2 contracts filed for today representing 200 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 2 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1 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 OCT. /2023. contract month, we take the total number of notices filed so far for the month (9658 x 100 oz ), to which we add the difference between the open interest for the front month of OCT. (365 CONTRACTS) minus the number of notices served upon today 2 x 100 oz per contract equals 10,002,100 OZ OR 31.169 TONNES the number of TONNES standing in this active month of OCT.
thus the INITIAL standings for gold for the OCT.contract month: No of notices filed so far (9658) x 100 oz + (365) {OI for the front month} minus the number of notices served upon today (2) x 100 oz) which equals 10,002.100oz standing OR 31.169 TONNES
TOTAL COMEX GOLD STANDING: 31.169 TONNES WHICH IS HUGE FOR AN ACTIVE BUT GENERALLY WEAK DELIVERY MONTH. (OCT). Somebody is after a considerable amount of gold from the comex.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 20,316,344.134 OZ
TOTAL REGISTERED GOLD 9,991.235.674 (310.769 tonnes)..
TOTAL OF ALL ELIGIBLE GOLD: 10,325,198.490 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 8,017.482 (REG GOLD- PLEDGED GOLD) 249.377 tonnes//dropping like a stone
END
SILVER/COMEX
OCT 13
//2023// THE OCT 2023 SILVER CONTRACT
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
niloz
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
7 CONTRACT(S) (35,000 OZ)
No of oz to be served (notices)
21 contracts (105,000 oz)
Total monthly oz silver served (contracts)
479 Contracts (2,395,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
i) 0 dealer deposit
total dealer deposit: 0
total: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 0 deposits customer account:
total customer deposit nil oz
JPMorgan has a total silver weight: 136.236 million oz/272.905 million or 49.89%
Comex withdrawals 0
total: nil oz
adjustments: 0
TOTAL REGISTERED SILVER: 37.678 MILLION OZ//.TOTAL REG + ELIGIBLE. 272.905 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:
silver open interest data:
FRONT MONTH OF OCT /2023 OI: 28 CONTRACTS HAVING GAINED 5 CONTRACT(S). WE HAD 2 NOTICES FILED
ON WEDNESDAY, SO WE GAINED 7 CONTRACTS AS WE HAD A QUEUE JUMP OF 35,000 OZ
NOVEMBER LOST 11 CONTRACTS TO STAND AT 433
DEC. GAINED 121 CONTRACTS TO STAND AT 103,196 .
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000 oz
Comex volumes// est. volume today 73,827 //strong
Comex volume: confirmed yesterday 56,436// weak
To calculate the number of silver ounces that will stand for delivery in OCT. we take the total number of notices filed for the month so far at 479 x 5,000 oz = 2,395,000 oz
to which we add the difference between the open interest for the front month of OCT (28) and the number of notices served upon today 7 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the OCT/2023 contract month: 479 (notices served so far) x 5000 oz + OI for the front month of OCT (28) – number of notices served upon today (7 )x 500 oz of silver standing for the OCT contract month equates to 2.500 million oz + 1.0 MILLION oz of exchange for risk today + 2.0 million oz prior//new totals: 5.500 million oz.
There are 37.638 million oz of registered silver.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44
END
GLD AND SLV INVENTORY LEVELS
OCT 13/WITH GOLD UP $57.60 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: //: / /// // INVENTORY RESTS AT 862.37 TONNES
OCT 12/WITH GOLD DOWN $3.00 TODAY:BIG CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .86 TONNES OF GOLD INTO THE GLD//: / /// // INVENTORY RESTS AT 862.37 TONNES
OCT 11/WITH GOLD UP $11.20 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:HUGE CHANGES: / /// // INVENTORY RESTS AT 861.51 TONNES
OCT 10/WITH GOLD UP $30.60 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:HUGE CHANGES: A WITHDRAWAL OF 5.77 TONNES OF GOLD FROM THE GLD// /// // INVENTORY RESTS AT 861.81 TONNES
OCT 6/WITH GOLD UP $13.05 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:HUGE CHANGES: A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD// /// // INVENTORY RESTS AT 867.58 TONNES
OCT 5/WITH GOLD DOWN $1.35 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:HUGE CHANGES: A MASSIVE WITHDRAWAL OF 5.77 TONNES OF GOLD FROM THE GLD// /// // INVENTORY RESTS AT 869.31 TONNES
OCT 4/WITH GOLD DOWN $7.40 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD/// : // //INVENTORY RESTS AT 875.08 TONNES
OCT 3/WITH GOLD DOWN $6.90 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD/// : // //INVENTORY RESTS AT 875.08 TONNES
OCT 2/WITH GOLD DOWN $19.35 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: LD/ : // //INVENTORY RESTS AT 873,64 TONNES
SEPT 29/WITH GOLD DOWN $11.15 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: LD/ : // //INVENTORY RESTS AT 873,64 TONNES
SEPT 28/WITH GOLD DOWN $13.45 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A HUGE WITHDRAWAL OF 4.88 TONNES OF GOLD OUT OF THE GLD/ : // //INVENTORY RESTS AT 873,64 TONNES
SEPT 26/WITH GOLD DOWN $XXX TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.31 TONNES OF GOLD OUT 05 THE GLD/ : // //INVENTORY RESTS AT 878.52 TONNES
SEPT 26/WITH GOLD DOWN $13.40 TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.31 TONNES OF GOLD OUT 05 THE GLD/ : // //INVENTORY RESTS AT 878.52 TONNES
SEPT 22/WITH GOLD UP $5.70 TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD DEPOSIT OF 0.58 TONNES OF GOLD INTO THE GLD/ : // //INVENTORY RESTS AT 878.83 TONNES
SEPT 21/WITH GOLD DOWN $25.60 TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 0.58 TONNES OF GOLD FROM THE GLD/ : // //INVENTORY RESTS AT 878.25 TONNES
SEPT 19/WITH GOLD UP $0.60 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD : // //INVENTORY RESTS AT 880.217 TONNES
SEPT 18/WITH GOLD UP $8.40 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD : A DEPOSIT OF 0.57 TONNES OF GOLD INTO THE GLD// //INVENTORY RESTS AT 880.217 TONNES
SEPT 15/WITH GOLD UP $13.20 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD : A WITHDRAWAL OF 1.055 TONNES OF GOLD FROM THE GLD// //INVENTORY RESTS AT 879.70 TONNES
SEPT 14/WITH GOLD UP $1.00 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD : A WITHDRAWAL OF 4.63 TONNES OF GOLD FROM THE GLD// //INVENTORY RESTS AT 882.01 TONNES
SEPT 13/WITH GOLD DOWN $2.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES
SEPT 12/WITH GOLD DOWN $11.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES
SEPT 11/WITH GOLD UP $4.45 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES
SEPT 8/WITH GOLD UP $0.35 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD : / //INVENTORY RESTS AT 886.64 TONNES
SEPT 7/WITH GOLD DOWN $0.20 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 3.22 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 886.69 TONNES
SEPT 6/WITH GOLD DOWN $8.80 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.16 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 889.81 TONNES
SEPT 5/WITH GOLD DOWN $13.50 TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 0.87 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 890.97 TONNES
SEPT 1/WITH GOLD UP $1.00 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 0.87 TONNES OF GOLD INTO THE GLD.: / //INVENTORY RESTS AT 890.10 TONNES
GLD INVENTORY: 862.37 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
OCT 13/WITH SILVER UP 90 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV:. : //A WITHDRAWAL OF 1.375 MILLION OZ OUT OF THE SLV// /.////INVENTORY RESTS AT 450.394 MILLION OZ
OCT 12/WITH SILVER DOWN 19 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV:. : //A WITHDRAWAL OF 0.825 MILLION OZ OUT OF THE SLV// /.////INVENTORY RESTS AT 451.769 MILLION OZ
OCT 11/WITH SILVER UP 17 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:. : //A WITHDRAWAL OF .366 MILLION OZ OUT OF THE SLV// /.////INVENTORY RESTS AT 452.594 MILLION OZ
OCT 10/WITH SILVER UP 25 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:. : //A DEPOSIT OF 1.833 MILLION OZ INTO THE SLV// /.////INVENTORY RESTS AT 452.960 MILLION OZ
OCT 6/WITH SILVER UP 69 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:. : //A DEPOSIT OF 0.916 MILLION OZ INTO THE SLV// /.////INVENTORY RESTS AT 451.127 MILLION OZ
OCT 5/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : //A MASSIVE DEPOSIT OF 8.328 MILLION OZ INTO THE SLV// /.////INVENTORY RESTS AT 450.211 MILLION OZ
OCT 4/WITH SILVER DOWN 34 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 441.883 MILLION OZ
OCT 3/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 441.883 MILLION OZ
OCT 2/WITH SILVER DOWN 98 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 441.883 MILLION OZ
SEPT 29/WITH SILVER DOWN 28 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:. A WITHDRAWAL OF 0.183 MILLION OZ FROM THE SLV: // /.////INVENTORY RESTS AT 441.883 MILLION OZ
SEPT 28/WITH SILVER DOWN 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:. A WITHDRAWAL OF 4.88 MILLION OZ FROM THE SLV: // /.////INVENTORY RESTS AT 442.066 MILLION OZ
SEPT 27/WITH SILVER DOWN 20 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:. A WITHDRAWAL OF .641 MILLION OZ FROM THE SLV: // /.////INVENTORY RESTS AT 448.392 MILLION OZ
SEPT 26/WITH SILVER DOWN 20 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV:. A WITHDRAWAL OF .641 MILLION OZ FROM THE SLV: // /.////INVENTORY RESTS AT 448.392 MILLION OZ
SEPT 22/WITH SILVER UP 13 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 449.492 MILLION OZ
SEPT 21/WITH SILVER DOWN 13 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 449,033 MILLION OZ
SEPT 19/WITH SILVER UP 0 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 1.1 MILLION OZ INTO THE SLV. : // /.////INVENTORY RESTS AT 449.033 MILLION OZ
SEPT 18/WITH SILVER UP 11 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 1.651 MILLION OZ INTO THE SLV. : // /.////INVENTORY RESTS AT 441.332 MILLION OZ
SEPT 15/WITH SILVER UP 37 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 2.31 MILLION OZ FROM THE SLV. : // /.////INVENTORY RESTS AT 439.681 MILLION OZ
SEPT 14/WITH SILVER DOWN 16 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: : // /.////INVENTORY RESTS AT 440.736 MILLION OZ
SEPT 13/WITH SILVER DOWN 23 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1,009 MILLION OZ INTO THE SLV//: // /.////INVENTORY RESTS AT 440.736 MILLION OZ
SEPT 12/WITH SILVER UP 1 CENT TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.209 MILLION OZ INTO THE SLV//: // /.////INVENTORY RESTS AT 439.727 MILLION OZ
SEPT 11/WITH SILVER UP 19 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.209 MILLION OZ INTO TEH SLV//: // /.////INVENTORY RESTS AT 439.727 MILLION OZ
SEPT 8/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // /.////INVENTORY RESTS AT 436.518 MILLION OZ
SEPT 7/WITH SILVER DOWN 21 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV: // /.////INVENTORY RESTS AT 436.518 MILLION OZ
SEPT 6/WITH SILVER DOWN 36 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.373 OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 436.518 MILLION OZ
SEPT 5/WITH SILVER DOWN 69 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 734,000 OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 437.891 MILLION OZ
SEPT 1/WITH SILVER DOWN 20 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.375 MILLION OZ OF SILVER OUT OF THE THE SLV// /.////INVENTORY RESTS AT 440.00 MILLION OZ
3,Chris Powell of GATA provides to us very important physical commentaries
New details on that $20 million gold heist
(National Post)
New details about $20 million Toronto airport gold heist revealed in Brink’s suit vs. Air Canada
Submitted by admin on Wed, 2023-10-11 09:35Section: Daily Dispatches
By Adrian Humphreys National Post, Toronto Tuesday, October 10, 2023
The shock Toronto airport heist of $20 million in gold bars — weighing 400.19 kilograms — along with US$2 million in cash was as easy as walking into Air Canada’s cargo facility, showing a false waybill, and leaving with the enormous haul, according to a lawsuit filed in court.
It was gone 42 minutes after it was unloaded from a plane arriving from Switzerland and transferred to a supposedly secure warehouse on the periphery of Toronto’s Pearson airport, according to the statement of claim.
The theft, one of the largest in Canadian history, remains unsolved by police. Brink’s, a secure transport company, is now suing Air Canada over the lost loads.
The lawsuit paints the clearest picture yet of how April’s airport gold heist was allegedly pulled off after months of institutional silence from police, the airline, and others involved in the theft that made headlines around the world.
In a statement of claim filed in Federal Court and first reported by Glen McGregor on Substack, Brink’s says the shipment of gold and cash was delivered to Air Canada in Zurich, a Swiss financial centre, and loaded aboard Air Canada Flight AC881, a daily passenger and cargo flight to Toronto, on April 17.
Brink’s claims Air Canada provided woeful security despite knowing the high-value contents of the load. …
Submitted by admin on Thu, 2023-10-12 13:27Section: Daily Dispatches
By Alasdair Macleod Head of Research, GoldMoney, Toronto via Schiff Gold, White Plains, New York Thursday, October 12, 2023
An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent — none more so than with gross domestic product.
In this analysis, I explain why GDP is simply the total of accumulating currency and credit that is wrongly taken to reflect economic progress — there being no such thing as economic growth, only the growth of credit. Once that point is grasped, the significance of this basic error becomes clear, and the fiat currency paradigm is revealed for what it is: a funny money game that will go horribly wrong.
There is only one escape from it, and that is to own the one form of money that is no one’s counterparty risk — the one form of money that always comes to humanity’s rescue when fiat fails.
And that is gold. It is neglected by nearly everyone because it is the anti-bubble. The more that people believe in fiat-denominated assets, the less they believe in gold. That is, until their funny-money games implode, inevitably triggered by sharply rising interest rates. …
Bolivia sold $1 billion in gold this year but remains broke as its bonds collapse
Submitted by admin on Thu, 2023-10-12 13:55Section: Daily Dispatches
Western gold price suppression policy doesn’t seem to bother the government of another resource-rich nation that insists on being poor.
* * *
Bolivia Running Out of Cash After $1 Billion in Gold Sales
By Oliver West Global Capital, London Wednesday, October 11, 2023
Bolivia is plunging into a balance of payments crisis amid a continued shortage of dollars, no recent official data on foreign currency reserves, and a hefty fiscal deficit.
Stirring the pot is former President Evo Morales, forced to flee the country in 2019.
Morales has fallen out with President Luis Arce, his old finance minister, and said on Sept. 24 that he would run for office in the 2025 election, as a result of what he sees as “attacks from the government.”
Even after a precipitous drop in its dollar bond prices in the last month and although Bolivia has no bonds maturing until March 2028, investors are failing to see any value in its debt.
The approval of a so-called “gold law” this year has allowed the Bolivian central bank to sell some 17 tonnes of gold and raise just over $1 billion of cash since May 5. This eased earlier concerns about a $183 million bond maturity payment due on Aug. 22, which was duly made. It is also likely to have temporarily reversed a fall in international reserves that has caused demand for dollars to surge across the country.
But this has cut Bolivia’s gold reserves from 43.5 tonnes to 26.1, according to a report from EMFI Securities published on Monday and — by law — the stock must not drop below 22 tonnes. The central bank stopped publishing weekly reserve data on Feb. 8 but analysts believe the situation remains perilous. …
Eight Capital’s Winston Miles explains why gold’s inverse correlation with rates has broken
Submitted by admin on Thu, 2023-10-12 21:32Section: Daily Dispatches
9:33p ET Thursday, October 12, 2023
Dear Friend of GATA and Gold:
The most incisive market letter of the last several months may be the one just issued by Winston Miles, principal and head of institutional equity sales at Eight Capital in Toronto.
Miles’ letter explains why the gold price and interest rates lately have broken their traditional inverse correlation, wherein gold falls as rates rise and vice-versa.
Miles writes: “Between 2007 and 2021, according to Bloomberg, the inverse correlation between the yield on 10-year TIPS and the price of gold registered 91%. And look at the divergence since. The correlation has totally broken. Given where real interest rates are, the gold price should be hundreds of dollars lower. Yet it isn’t.”
Despite gold’s holding up so well, Miles notes, sentiment about the monetary metal and shares of gold mining companies couldn’t be worse.
The break in the correlation, according to Miles, involves central banks, and he concludes that gold and gold mining shares now present great opportunity precisely for being so unloved outside central banking.
Miles’s letter has some telling charts and a couple of fun illustrations and he has generously allowed GATA to share it with you in PDF format here:
The West’s 100-year plan for total control reaching its final chapter
In this week’s episode of Live from the Vault, Andrew Maguire is joined by precious metals broker Bill Holter to discuss how a 100-year plan being implemented by the West is coming to an end with rising interest rates and the looming spectre of CBDCs.
The precious metals experts delve into potential delivery failures hindering the gold wholesale market, why silver is the “go-to” barter currency if the global financial system fails, and the risk of holding your wealth in cash in a credit collapse.
5 a. IMPORTANT COMMENTARIES ON COMMODITIES:
END
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT
Ellison Testifies Bankman-Fried Was “Freaking Out” About Inability To Raise Capital From Saudis
THURSDAY, OCT 12, 2023 – 07:20 PM
On her third day of testimony former Alameda Research Chief Executive Officer Caroline Ellison detailed more interactions with Alameda employees and how SBF was “freaking out” over not being able to raise cash from the Saudis. Her testimony also expounded on the hole in FTX’s balance sheet and the internal stress constantly shuffling loans caused at FTX and Alameda.
Bloomberg said Thursday that Ellison looked “more relaxed than in previous days” of testimony. We guess once you’ve detailed how you used the IDs of Thai hookers to set up fake crypto accounts to bribe the Chinese government, the rest of the fraud admissions just seem like easy work and just kinda roll off the tongue.
Among the items brought to light on day 3 of her testimony was the claim that SBF wouldn’t let her quit when she wanted to. Ellison said in court: “He said I couldn’t I was too important to Alameda and I should stay at Alameda.”
On Thursday Ellison said she admitted to Alameda employees that the company likely wasn’t going to make it: “A lot of employees had been asking me about what was going on or what the implications was for them. I was hoping that some might stay, but if my goal was to get them to stay, I would have asked them to stay. My goal was to inform Alameda employees what had been going on and what the implications were.”
She said the employees were grateful she was “open and honest with them.”
She detailed more on Thursday about how SBF was “freaking out” about not being able to raise money from Mohammed bin Salman: “He told me he went to the Middle East and tried to raise funds there but it didn’t sound like he had success.” We had detailed in yesterday’s testimony that MBS was one place where FTX was potentially looking to raise capital.
Ellison again talked about how she was worried about Alameda’s lenders recalling loans in summer 2022. Talking about the 7 alternate balance sheets she used with FTX to lie about the company’s financial position, Ellison said Thursday: “I don’t recall if we discussed all of them, I know we discussed some.”
She also told the jury how she wasn’t “as good a manager as she could be”, Bloomberg wrote. Ellison said in court: “By limiting factors in scaling I meant those were things that were preventing Alameda from doing as well and making as much money as we could. I thought the biggest factor was that [Sam] Trabucco and I weren’t as good managers or leaders as we could be and we weren’t pushing employees to you know make new things or do better in the way that I wished we were.”
Ellison also admitted that Alameda had an “improper advantage” from being so close to FTX and having access to customer funds. In 2022, she had told Bloomberg that the entities were walled off from each other: “We definitely have a Chinese wall in terms of information sharing to ensure that no one in Alameda would get customer information from FTX or anything like that, or any sort of special treatment from FTX. It’s very important for FTX to be perceived as a fair, neutral marketplace where everyone gets an equal shot.”
She said that communication broke down between her and SBF after their breakup, stating in court Thursday: “I tried to avoid [one on one conversations] and avoid spending much time in social settings. We talked sometimes outside of work. He still lived in the same apartment, so it’s hard to avoid that entirely.”
“There were periods of time when he wasn’t paying attention to Alameda,” she also testified, helping make the point from the defense that SBF was not always aware of Alameda’s daily operations.
Ellison claimed she was unaware of government probes into FTX and Alameda until after a November meeting. She testified that the FBI confiscated her mother’s and boyfriend’s computers, both of whom were also involved with Alameda and FTX. Ellison pleaded guilty and agreed to cooperate with prosecutors in December after multiple meetings, including a lengthy one this Monday.
Recall, we detailed Ellison’s sordid second day of testimony earlier, wherein she talked about falsely using the IDs of Thai hookers to bribe Chinese officials and how even FTX’s fabricated balance sheets, laden with FTX’s FTT token and other tokens closely affiliated with Bankman-Fried, were concerning.
On Wednesday, @teddyschleifer reported on X that “Caroline Ellison testified that Sam Bankman-Fried ordered her to lie in mid 2022 to Genesis, one of FTX’s lenders, about Alameda’s balance sheet,” he wrote. “Caroline prepared a bunch of bullshit balance-sheets that they could send, and Sam chose ‘Alternative 7’ as the best lie of the bunch.”
END
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.3073
OFFSHORE YUAN: UP TO 7.3083
SHANGHAI CLOSED DOWN 19.80 PTS OR .64%
HANG SENG CLOSED DOWN 424.76 PTS OR 2.33%
2. Nikkei closed DOWN 178.67 PTS OR 0.55 %
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX DOWN TO 106,32 EURO FALLS TO 1.0526 DOWN 9 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.756 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.60/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 UP /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 DOWN TO +2.7180***/Italian 10 Yr bond yield UP to 4.739*** /SPAIN 10 YR BOND YIELD UP TO 3.851…**
3i Greek 10 year bond yield RISES TO 4.188
3j Gold at $1905.60 silver at: 22.38 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 23 /100 roubles/dollar; ROUBLE AT 97.19//
3m oil into the 86 dollar handle for WTI and 89 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 149.60// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.756% 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 0.9071 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9548 well 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: 4.612 DOWN 10 BASIS PTS…
USA 30 YR BOND YIELD: 4.766 DOWN 11 BASIS PTS/
USA 2 YR BOND YIELD: 5.041 DOWN 3 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 27.80…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 2 BASIS PTS AT 4.410
end
2.a Overnight: Newsquawk and Zero hedge:
Futures Jump To Highs After Solid Bank Earnings As Gold, Treasuries Soar On Imminent Gaza Invasion
FRIDAY, OCT 13, 2023 – 09:11 AM
US equity futures reverased earlier losses, thanks to solid results from JPM and Citi…
… while treasuries rallied with 10Y yields tumbling more than 10 basis point to session lows below 4.59% and paring almost all of Thursday’s sharp rise in the wake of hotter-than-expected US consumer price data.
… and while the dollar was largely flat…
… oil soared, with Brent about to rise above $90 again…
… and gold surged…
… as investors scramed to safe havens amid warnings that Israel is preparing for an imminent ground invasion of Gaza.
Helping nudge futures to session highs, JPMorgan, Citigroup and Wells Fargo all gained in premarket trading after earnings beats. Data showing that import prices rose less than expected in September also lifted the mood. Among other US premarket movers, Boeing fell after Ryanair Holdings Plc said delivery delays of 737 Max aircraft have worsened as the aircraft maker grapples with supplier quality-control issues. BlackRock declined after clients pulled a net $13 billion from long-term investment funds, the first outflows since the onset of the pandemic in 2020.
European bonds also gained, with the German 10-year yield falling seven basis points. Crude oil climbed more than 4% in New York, rising above $86 a barrel on fears the Israel-Hamas war could destabilize the Middle East and crimp global supply. “Bonds are rallying ahead of the weekend as traders likely want to hedge geopolitical risk,” said Christophe Barraud, chief economist and strategist at Market Securities LLP.
The Stoxx Europe 600 dropped about 0.8%, led by travel and leisure shares. The energy sector was the only one ini the green as oil majors gained. Among individual movers, Tryg A/S jumped after the Danish insurer reported an earnings beat. Ubisoft Entertainment advanced after the UK approved Microsoft Corp.’s deal to buy Activision Blizzard Inc., which will see the sale of some gaming rights to the French video-game maker. Here are the most notable European movers:
Tryg gains as much as 6.7%, the most since March 2021, after the Danish insurance company reported 3Q earnings that beat estimates. Analysts notes that its DKK1 billion share buyback was larger and earlier than expected.
Dufry shares climb as much as 2.1% after JPMorgan lifted its price target for the Swiss manager of airport duty-free shops to a new street high of CHF62, saying recent weakness in sentiment now presents a buy opportunity.
Porsche rises as much as 1.8% after the luxury carmaker reported its global deliveries for the last nine months rose 10% year-on-year.
Sabadell rises rise as much as 1.9% after loan management servicer doValue announced that the bank was among Spanish majors that it had secured €689 of new contracts from.
CD Projekt climbs as much as 2.4% after the Polish video game developer said it used AI technology in its latest release to recreate the voice of an actor who passed away.
BPER Banca shares advance as much as 4.3% to the highest since August after it was upgraded to overweight from equal-weight at Barclays, with the broker saying it’s getting more constructive on Italian banks.
St James’s Place shares tumble 16% to the lowest since March 2020 as the UK wealth manager said it’s reviewing its fees and charges.
Sartorius shares slide as much as 15% to the lowest since June 2020, while its French-listed subsidiary Sartorius Stedim Biotech drops as much as 19% after both cut guidance for the full year, with the companies citing lower volume expectations and product mix effects. Morgan Stanley says the magnitude of the profit warning is more significant than expected.
Spirax drops as much as 4% to the lowest since May 2020 after Sartorius’s reduced sales forecast put pressure on the UK pumps manufacturer.
Orsted drops as much as 8.3% as the stock is hit by New York State Public Service Commission’s unwillingness to support price increases for projects being developed alongside the state. The immediate implication for the Danish power generator is a greater likelihood of further write-down of Sunrise Wind, Citigroup says.
Exor falls as much as 2.4%, the most since July, after the Agnelli family said a tender offer, part of its €1 billion buyback plan, went oversubscribed in a statement.
British American Tobacco shares dip as much as 2.8% after the US Food and Drug Administration said it was prohibiting the marketing and distribution of some of its Vuse vape products.
Earlier in the session, Asian stocks fell for the first time in more than a week after brisk US inflation data bolstered rate-hike bets and weakness in China’s economy further soured sentiment. The MSCI Asia Pacific Index slid as much as 1.1%, with Chinese tech giants Tencent, Alibaba and JD.com among the biggest drags. Most markets were in the red as stronger-than-expected US inflation reading reinforced jitters about higher-for-longer rates. Gauges in Hong Kong were the worst performers after China’s consumer and producer prices came in below estimates, underscoring weak demand. Mainland shares only briefly pared losses following a report that China is considering forming a state-backed stabilization fund to shore up confidence in the stock market. The CSI 300 Index was back down more than 1%.
Hang Seng and Shanghai Comp. were lower with tech the worst hit in Hong Kong amid broker downgrades and as the US reportedly eyes closing a loophole that gives Chinese companies access to American AI chips via units located overseas. Furthermore, Chinese inflation data underwhelmed with consumer inflation flat and factory gate prices at a deeper-than-forecast decline, while participants digested mixed trade data in which exports beat expectations but remained in contractionary territory.
Australia’s ASX 200 was pressured with underperformance in real estate and tech alongside rising yields and as markets reflected on the latest gauges into the economic health of Australia’s largest trading partner.
Japan’s Nikkei 225 traded negatively but with price action choppy and downside stemmed as Japan plans to release an economy security plan to protect vital industries like semiconductors and with index heavyweight Fast Retailing boosted by earnings.
India stocks closed lower, trimming their weekly gains, as bank stocks saw selling after UBS warned of rising default risks for unsecured retail loans. Index major Infosys slumped. The S&P BSE Sensex fell 0.2% to 66,282.74 in Mumbai, while the NSE Nifty 50 Index declined by a similar magnitude. The MSCI Asia Pacific Index was down 1.3%. Stock benchmarks eked out gains for the second week running as consumer-facing companies rallied on optimism
“Asia markets are facing a double whammy that casts significant doubt on the optimism-driven rally of the past few days,” said Hebe Chen, an analyst at IG Markets. “The earlier optimism, built on the assumption of a dovish turn by the Fed, now seems much vulnerable. Additionally, China’s disappointing zero CPI figures signal a yellow-light alarm.”
In FX, the Bloomberg Dollar Index falls 0.1%. The Swedish krona is the best performer among the G-10’s, rising 0.4% versus the greenback after CPI topped estimates.
In rates, treasuries held gains across the curve, unwinding a portion of Thursday’s sharp bear-steepening move, with yields richer by 4bp-8bp as US session begins. Intermediates lead, flattening 2s10s back to middle of Thursday’s range. US 10-year yields down more than 8bp at 4.60%, at session lows, outperforming gilts and bunds by ~3bp and ~1bp in the sector; front-end lags, with 2-year yields richer by ~4bp on the day. Haven demand is among the catalysts a ground invasion of Gaza by Israel appears likely. US session includes University of Michigan sentiment data, while 3Q earnings season starts with reports from JPMorgan, Citigroup and Wells Fargo. Meanwhile, the prospect of higher-for-longer US interest rates also weighed on risk appetite. Swap contracts pushed the odds of another quarter-point Federal Reserve hike to about 40% — from closer to 30% Wednesday. US economic data slate includes September import/export price index (8:30am) and October preliminary University of Michigan sentiment (10am).
In commodities, crude futures jumped over 4% to trade above $86. The risk-off tone has also benefited spot gold which adds 1%. An escalation of Israel’s war with Hamas, drawing in Iran, could send crude oil to $150 a barrel and cut about $1 trillion off world economic output, according to Bloomberg Economics.
Looking to the day ahead now, and data releases include Euro Area industrial production for August, whilst in the US we’ll get the University of Michigan’s preliminary consumer sentiment index for October. From central banks, we’ll hear from ECB President Lagarde, Bundesbank President Nagel, BoE Governor Bailey, Deputy Governor Cunliffe, and the Fed’s Harker. Finally, today’s earnings releases include JPMorgan, Citigroup, Wells Fargo and BlackRock.
Market Snapshot
S&P 500 futures little changed at 4,384.50
MXAP down 1.2% to 157.23
MXAPJ down 1.2% to 492.87
Nikkei down 0.5% to 32,315.99
Topix down 1.4% to 2,308.75
Hang Seng Index down 2.3% to 17,813.45
Shanghai Composite down 0.6% to 3,088.10
Sensex down 0.2% to 66,272.36
Australia S&P/ASX 200 down 0.6% to 7,051.03
Kospi down 1.0% to 2,456.15
STOXX Europe 600 down 0.4% to 451.95
German 10Y yield little changed at 2.75%
Euro up 0.3% to $1.0557
Brent Futures up 2.6% to $88.24/bbl
Gold spot up 0.8% to $1,884.33
U.S. Dollar Index down 0.28% to 106.31
Top Overnight News
China’s CPI for September was 0.0%, down from +0.1% in Aug and below the Street’s +0.2% forecast, while PPI deflation improved modestly to -2.5% (vs. -3% in Aug and vs. the Street forecast of -2.4%). FT
China is considering forming a state-backed stabilization fund to shore up confidence in its $9.5 trillion stock market. After at least two rounds of consultation with industry participants over a period of months, financial regulators including the China Securities Regulatory Commission recently submitted a preliminary plan to the nation’s top leadership. BBG
The Biden administration is considering closing a loophole that gives Chinese companies access to American artificial intelligence (AI) chips through units located overseas, according to four people familiar with the matter. RTRS
Israel’s military warned more than 1mn Palestinians to leave Gaza City and its outskirts, in a move the UN said would cause a “calamitous” mass civilian displacement. FT
Microsoft’s acquisition of videogame company Activision Blizzard won approval from U.K. competition authorities, clearing a path for the companies to close the $75 billion deal after a lengthy struggle with regulators. WSJ
Americans didn’t pay an estimated $688 billion in taxes due on their 2021 returns—the largest shortfall ever. Audits and other enforcement will be stepped up to reduce the gap, the Internal Revenue Service said Thursday. WSJ
Majority Leader Steve Scalise (R-La.) dropped out of the race for House speaker Thursday night, further throwing the House into chaos as Republicans openly ponder whether their fractured conference is capable of electing anyone as speaker. WaPo
House Republicans are considering plans to give McHenry formal powers for a limited period so he can help pass a budget bill before the 11/17 deadline and deal with emergency spending requests. The Hill
The biggest US banks face the worst write-offs in three years as JPMorgan, Citi and Wells Fargo kick off earnings today. They’re set to post combined net charge-offs almost twice last year’s levels. As well as deteriorating credit quality, analysts will be watching NII and investment banking revenue. BBG
A more detailed look at global markets courtesy of Newsquawk
Asia-Pacific stocks were mostly lower amid headwinds from the US where headline CPI data topped forecasts, while the region also digested softer-than-expected inflation and mixed trade data from China. ASX 200 was pressured with underperformance in real estate and tech alongside rising yields and as markets reflected on the latest gauges into the economic health of Australia’s largest trading partner. Nikkei 225 traded negatively but with price action choppy and downside stemmed as Japan plans to release an economy security plan to protect vital industries like semiconductors and with index heavyweight Fast Retailing boosted by earnings. Hang Seng and Shanghai Comp. were lower with tech the worst hit in Hong Kong amid broker downgrades and as the US reportedly eyes closing a loophole that gives Chinese companies access to American AI chips via units located overseas. Furthermore, Chinese inflation data underwhelmed with consumer inflation flat and factory gate prices at a deeper-than-forecast decline, while participants digested mixed trade data in which exports beat expectations but remained in contractionary territory.
Top Asian News
PBoC set the USD/CNY mid-point at 7.1775 vs exp. 7.3179 (prev. 7.1776).
PBoC Governor Pan met with Fed Chair Powell in Morocco on October 12th and exchanged views on cooperation, according to Reuters citing the PBoC.
PBoC official said stable CNY has a solid foundation; and will resolutely prevent the risk of CNY overshooting; China will maintain a current account surplus, according to Reuters.
PBoC said it will implement monetary policy in a precise and forceful manner. The official said the central bank still has ample room to support the economy. PBoC said recent interest rate reductions for the property sector have achieved significant results, and expects total social finance and credit to maintain steady growth in Q4, according to Reuters.
China’s NPC Standing Committee is to hold a meeting between Oct 20-24th; to discuss offer for new local government debt quota, according to Xinhua.
Chinese Vice Premier Zhang called for efforts to vigorously develop advanced manufacturing and accelerate new industrialisation, according to Chinese press.
China is said to weigh a new stabilisation fund to prop up the stock market with the plan calling for the fund to have access to up to hundreds of billions of yuan in capital, according to Bloomberg.
US eyes closing loophole that gives Chinese companies access to American AI chips via units located overseas, according to Reuters sources
China’s Customs said China’s trade still faces many difficulties and challenges, while it added that China’s trade also faces a complex and severe external environment.
Monetary Authority of Singapore maintained the width, centre and slope of the SGD NEER policy band, as expected, while it announced to shift to a quarterly schedule of policy reviews. MAS said it will closely monitor global and domestic economic developments amid uncertainty on inflation and growth, as well as noted that prospects for the Singapore economy are muted in the near term but should improve gradually in H2 2024.
S&P said Japan is robust enough for rising JPY rates, expects a gradual increase in Japan’s interest rates, and added that rates will rise from 2024, according to Reuters.
IMF said BoJ’s YCC tweak led to spillover in global bond market; could become larger in event of more substantial policy normalisation, according to Reuters.
European bourses have been tilting lower since the cash open despite a lack of major headlines during the European morning, with traders cognizant of geopolitical risks heading into the weekend. Sectors in Europe are mostly in the red with clear outperformance in energy as crude prices continue marching higher, while Banks, Financials and Healthcare lag. US futures have tilted lower alongside the European equity markets as broader sentiment deteriorates, albeit losses across US futures are modest.
Top European News
German Chancellor Scholz reportedly faces renewed pressure to stem the property rout in a standoff with the industry, according to Reuters sources. Germany’s building industry will present the chancellor with a new set of proposed measures this month to cushion the downside in the property sector.
European Foreign Policy Commissioner Borrell says European investments in China have seen a sharp downturn and today they are at the lowest level since 2018, according to Reuters.
Italian Economy Minister, when asked about a potential rating downgrade, said they have had discussions with rating agencies and cannot rule anything out, according to Reuters.
ECB’s Kazaks said he is quite happy with where rates currently are, via CNBC; would not close the door on further rate increases.
ECB’s Nagel said inflation has peaked in Germany, the labour market remains strong, and expects consumer demand to increase, according to Reuters.
ECB’s Visco said there are no signs that Italian spreads will be reaching levels for the ECB to take action, according to Bloomberg.
BoE Governor Bailey said he is seeing progress that inflation is being tackled but there is work left to do, and added policy is restrictive and it needs to be, according to Reuters.
UK Chancellor Hunt said the Autumn Budget statement will be “balanced with caution about the international situation”; needs to show in the statement that there is a path to lower taxation. He added the Autumn statement will lay out a plan to get out of the low growth trap, according to Reuters.
FX
Dollar loses some inflation momentum as DXY slips from a double top into a softer 106.510-280 range.
The Pound rebounds around the 1.2200 pivot vs Buck and the Euro steadies on the 1.0500 handle amidst massive EUR/USD option expiries.
Franc holds above 0.9100 as yields retreat and the Loonie is over 1.3700 as oil recovers.
Yen still defending 150.00 and the Kiwi in danger of losing 0.5900 on the eve of New Zealand election.
Fixed Income
Bonds futures have extended their recovery from post-US CPI lows in what could be described as a risk revival given a marked downturn in equities.
Bunds have reclaimed more than half of yesterday’s heavy losses to suggest more than a technical correction.
Gilts have overcome a few wobbles to track their Eurozone counterpart.
T-note is nudging new peaks amidst a return to bull-flattening regardless of a poor long bond auction to continue the run of weak sales this week.
Commodities
Crude futures are on the grind higher on Friday despite a lack of fresh fundamentals, with traders likely wary to bet against crude heading into the weekend as geopolitical risk remains at the forefront for the complex.
Dutch TTF is firmer intraday as prices for the Nov contract eye USD 54/MWh to the upside, potentially partially buoyed by action in the crude complex.
Spot gold edged higher to eventually top yesterday’s USD 1,884.79/oz high, while the 50 DMA today coincides with the USD 1,900/oz psychological mark. Spot silver also benefits and is back on a USD 22/oz handle.
Base metals are mixed with little reaction seen to the release of Chinese inflation and trade data overnight, with the data showing iron ore and copper imports fell in September.
Australia union official said progress has been made with Chevron (CVX) in LNG labour talks, but there is no deal yet; further talks are planned for Monday, according to Reuters.
Russian Deputy PM Novak says there are no discussions about an OPEC-like cartel for natural gas; says settlements in USD and EUR for Russian oil trade remain but have declined significantly. Discount to Russian oil on the global market to international benchmarks stabilised at USD 11-12/bbl from USD 35-38/bbl in early 2023, according to Reuters. Novak added that there is limited potential for further narrowing of the Urals prices discount.
Geopolitics
Israel’s ground military is building up on the Gaza Strip border, Sky News Arabia reports.
The Israeli military called for an evacuation of all civilians in Gaza City from their homes southwards and said Gaza City is an area where military operations take place, while it will operate significantly in Gaza City in the coming days, according to Reuters.
Israeli military informed the UN that all Palestinians north of Wadi Gaza should relocate to southern Gaza in the next 24 hours which amounts to approximately 1.1mln people, while the UN strongly appealed for any such order to be rescinded to avoid a calamitous situation, according to a UN spokesman. Furthermore, a Hamas official said the Gaza relocation warning is fake propaganda and it urged its citizens not to fall for it, according to Reuters.
Iran’s Foreign Minister said the continuation of war crimes will receive a response from the rest of the axes and ‘the Zionist entity’ will be responsible for that, while he added that the displacement of tens of thousands of Palestinians and cutting off water and electricity is considered a war crime.
US, Japanese and South Korean officials are to discuss North Korean matters on October 17th in Jakarta, Indonesia, while it was separately reported that North Korea warned of the consequences of US drills in South Korea, according to KCNA.
Indian Trade Secretary said a Free Trade Agreement with the UK is in an advanced stage of negotiations, according to Reuters.
Russian President Putin proposes hosting peace talks between Azerbaijan and Armenia in Moscow, according to Reuters.
US Event Calendar
08:30: Sept. Import Price Index MoM, est. 0.5%, prior 0.5%
Sept. Import Price Index YoY, est. -1.4%, prior -3.0%
Sept. Export Price Index YoY, est. -4.0%, prior -5.5%
Sept. Export Price Index MoM, est. 0.5%, prior 1.3%
10:00: Oct. U. of Mich. Sentiment, est. 67.0, prior 68.1
Oct. U. of Mich. Current Conditions, est. 70.3, prior 71.4
Oct. U. of Mich. Expectations, est. 65.7, prior 66.0
Oct. U. of Mich. 1 Yr Inflation, est. 3.2%, prior 3.2%
Oct. U. of Mich. 5-10 Yr Inflation, est. 2.8%, prior 2.8%
DB’s Jim concludes the overnight wrap
After a big rally for sovereign bonds at the start of the week, the sell-off resumed once again yesterday, thanks to an upside surprise in the latest US CPI print. The release showed that core CPI was at a 5-month high, and offered a fresh reminder that the road back to target is unlikely to be a smooth one. In turn, investors grew more confident that the Fed might raise rates again this year, and we even saw the 30yr Treasury yield experience its biggest daily rise since the Covid turmoil of March 2020, with a +16.0bps increase to 4.85%. That adjustment in rates meant that equities lost ground as well, with the S&P 500 ending its run of 4 consecutive gains to fall -0.62% .
Looking at the details of that CPI print, it was mostly bad news from a market perspective. The main story was that headline CPI came in at +0.40%, which was above the consensus of economists at 0.3%, along with market pricing via inflation swaps, which were expecting +0.25%. It wasn’t just the headline number that came in strong however, as the core CPI measure was running at +0.32%, with decent increases in some of the stickier categories as well. It was also a broad-based move, as the Cleveland Fed’s trimmed mean CPI measure that excludes the biggest outliers rose to +0.40%. So the data cemented the picture that inflation has been ticking up in recent months, and if you just look at the last 3 months, the annualised rate of CPI is now at +4.9%, which is the highest it’s been since August 2022. That’s offering some pushback against the more positive inflation narrative from a couple of months ago, and on the back of the release, our US economists have upgraded their near-term expectations for inflation, largely because of a stronger trajectory in rental inflation. See their reaction note here for details.
When it comes to the Fed, there’s still pretty strong scepticism about a hike in November, which is only priced as a 10% chance. But when it comes to December, futures raised the chance of a hike to 39% by that meeting, up from 30% the day before. That was also supported by the latest jobless claims data, which came in at 209k (vs. 210k expected) over the week ending October 7, in line with the lower levels of more recent weeks.
We didn’t hear much from Fed officials themselves, apart from Boston Fed President Collins, who echoed other recent Fedspeak in saying that if the recent rise in yields persists, it “likely reduces the need for further tightening”. But she wouldn’t take further tightening off the table and said that “today’s CPI release is a reminder that restoring price stability will take time”. Chair Powell is due to speak on Thursday next week, just before the pre-meeting blackout period begins, so that’ll be an important event on the calendar.
For sovereign bonds, the CPI proved to be a tough backdrop, and the 10yr yield was up +14.0bps by the close to 4.70%. That was its biggest daily increase since early May, back when the 10yr yield was still below 3.5%, and the move was led predominantly by higher real yields, which rose +10.8bps on the day. For the 30yr yield the move was even more dramatic, with a +16.0ps rise to 4.85%, which was the biggest daily rise since March 2020 at the height of the financial turmoil around the Covid-19 pandemic. That wasn’t helped by a 30yr auction, which was awarded at a post-2007 high of 4.837%, as weak end-investor demand led to the largest primarily dealer take up of a 30-year auction since December 2021. 30yr yields spiked by around 5bps following the auction results.
Over in Europe, the sell-off also had a clear impact, with yields on 10yr bunds (+6.8bps), OATs (+7.5bps) and BTPs (+9.8bps) all moving higher. That wasn’t helped by the latest rise in natural gas prices, which were up another +15.05% to €53.00 per megawatt-hour, which is the highest they’ve closed at since February. The latest moves follow several concerns about global supply over recent days, as well as forecasts showing much cooler weather in Europe over next week. Fortunately, gas prices are still some way beneath their levels from this time last year, and European gas storage is also fuller than at this point in 2021 and 2022, but this is still a concerning trend at a time when recent CPI prints have already been returning the focus back to inflationary pressures.
Whilst equities had initially been resilient, they took a tumble in the US after the 30yr auction, and the S&P 500 ended the day -0.62% lower. T he declines were fairly broad-based, but small-caps took a particular hit and the Russell 2000 ended the day -2.20% lower, which is its worst daily decline since April. By contrast, the FANG+ index of megacap tech stocks still lost ground, but was only down -0.28%, whilst European markets closed before the worst of the US losses, meaning the STOXX 600 ended the day up +0.10%. Today will see earnings season begin to get going, so plenty to keep an eye out for, including releases from several US financials.
That downbeat mood has continued overnight in Asia, where the major equity indices have all lost ground. The Hang Seng (-2.11%) is the biggest underperformer, but other indices including the CSI 300 (-1.11%), the KOSPI (-0.98%), the Shanghai Comp (-0.64%) and the Nikkei (-0.42%) have also declined. The moves come as China’s inflation data was weaker than expected, with CPI at 0.0% in September on a year-on-year basis (vs. +0.2% expected). Looking forward however, US equity futures have stabilised overnight, with those on the S&P 500 up +0.11%.
In the political sphere, the US House of Representatives remains without a speaker for the time being, and the latest news is that House Majority Leader Steve Scalise has withdrawn his name. He’d previously won the GOP nomination for speaker by a 113-99 vote, but there was clear opposition to his candidacy from some other Republicans, and to become Speaker, they would need to win a majority of the entire House of Representatives, meaning they could only lose a very small number of Republicans given their narrow majority. Currently, the House is unable to conduct business until a new speaker is elected.
Looking at yesterday’s other data, UK GDP grew by +0.2% in August, in line with expectations. Later on, we also heard from BoE chief economist Pill, who said that interest rate decisions were becoming “finely balanced”.
To the day ahead now, and data releases include Euro Area industrial production for August, whilst in the US we’ll get the University of Michigan’s preliminary consumer sentiment index for October. From central banks, we’ll hear from ECB President Lagarde, Bundesbank President Nagel, BoE Governor Bailey, Deputy Governor Cunliffe, and the Fed’s Harker. Finally, today’s earnings releases include JPMorgan, Citigroup, Wells Fargo and BlackRock.
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Stocks slip and bonds are bid while crude surges amid weekend geopolitical risks – Newsquawk US Market Open
FRIDAY, OCT 13, 2023 – 06:47 AM
European bourses and US equity futures have been tilting lower since the cash open despite a lack of major headlines, with traders cognizant of geopolitical risks heading into the weekend.
Dollar loses some inflation momentum as DXY slips from a double top into a softer 106.510-280 range; T-note is nudging new peaks amidst a return to bull-flattening regardless of a poor long bond auction to continue the run of weak sales this week.
Crude futures are on the grind higher on Friday despite a lack of fresh fundamentals, with traders likely wary to bet against crude heading into the weekend as geopolitical risk remains at the forefront for the complex
US eyes closing a loophole that gives Chinese companies access to American AI chips via units located overseas, according to Reuters sources.
Israel’s ground military is building up on the Gaza Strip border; Iran’s Foreign Minister said the continuation of war crimes will receive a response from the rest of the axes.
Looking ahead highlights include US Trade Balance & University of Michigan Inflation Prelim, Speeches from Fed’s Harker & ECB’s Lagarde, Earnings from JPMorgan, Wells Fargo, Citi, PNC Financial Services & Progressive Corp.
European bourses have been tilting lower since the cash open despite a lack of major headlines during the European morning, with traders cognizant of geopolitical risks heading into the weekend.
Sectors in Europe are mostly in the red with clear outperformance in energy as crude prices continue marching higher, while Banks, Financials and Healthcare lag.
US futures have tilted lower alongside the European equity markets as broader sentiment deteriorates, albeit losses across US futures are modest.
Crude futures are on the grind higher on Friday despite a lack of fresh fundamentals, with traders likely wary to bet against crude heading into the weekend as geopolitical risk remains at the forefront for the complex.
Dutch TTF is firmer intraday as prices for the Nov contract eye USD 54/MWh to the upside, potentially partially buoyed by action in the crude complex.
Spot gold edged higher to eventually top yesterday’s USD 1,884.79/oz high, while the 50 DMA today coincides with the USD 1,900/oz psychological mark. Spot silver also benefits and is back on a USD 22/oz handle.
Base metals are mixed with little reaction seen to the release of Chinese inflation and trade data overnight, with the data showing iron ore and copper imports fell in September.
Australia union official said progress has been made with Chevron (CVX) in LNG labour talks, but there is no deal yet; further talks are planned for Monday, according to Reuters.
Russian Deputy PM Novak says there are no discussions about an OPEC-like cartel for natural gas; says settlements in USD and EUR for Russian oil trade remain but have declined significantly. Discount to Russian oil on the global market to international benchmarks stabilised at USD 11-12/bbl from USD 35-38/bbl in early 2023, according to Reuters. Novak added that there is limited potential for further narrowing of the Urals prices discount.
German Chancellor Scholz reportedly faces renewed pressure to stem the property rout in a standoff with the industry, according to Reuters sources. Germany’s building industry will present the chancellor with a new set of proposed measures this month to cushion the downside in the property sector.
European Foreign Policy Commissioner Borrell says European investments in China have seen a sharp downturn and today they are at the lowest level since 2018, according to Reuters.
Italian Economy Minister, when asked about a potential rating downgrade, said they have had discussions with rating agencies and cannot rule anything out, according to Reuters.
ECB’s Kazaks said he is quite happy with where rates currently are, via CNBC; would not close the door on further rate increases.
ECB’s Nagel said inflation has peaked in Germany, the labour market remains strong, and expects consumer demand to increase, according to Reuters.
ECB’s Visco said there are no signs that Italian spreads will be reaching levels for the ECB to take action, according to Bloomberg.
BoE Governor Bailey said he is seeing progress that inflation is being tackled but there is work left to do, and added policy is restrictive and it needs to be, according to Reuters.
UK Chancellor Hunt said the Autumn Budget statement will be “balanced with caution about the international situation”; needs to show in the statement that there is a path to lower taxation. He added the Autumn statement will lay out a plan to get out of the low growth trap, according to Reuters.
EUROPEAN DATA RECAP
EU Industrial Production YY (Aug 2023) -5.1% vs. Exp. -3.5% (Prev. -2.2%)
EU Industrial Production MM (Aug 2023) 0.6% vs. Exp. 0.1% (Prev. -1.1%, Rev. -1.1%)
Riksbank sold USD 390mln (between September 25-29th), sold EUR 0 in its currency FX reserve hedging.
Swedish CPIF YY (Sep 2023) 4.0% vs. Exp. 3.8% (Prev. 4.7%)
Swedish CPIF MM (Sep 2023) 0.4% vs. Exp. 0.2% (Prev. -0.1%)
Swedish CPI YY (Sep 2023) 6.5% vs. Exp. 6.3% (Prev. 7.5%)
Swedish CPI MM (Sep 2023) 0.5% vs. Exp. 0.3% (Prev. 0.1%)
NOTABLE US HEADLINES
Fed’s Collins (non-voter) said the Fed is at or near the peak of the rate hike cycle and the bond yield rise likely reduces the need for a near-term Fed hike but added it is too soon to take the prospect of an additional rate hike off the table. Collins also commented that the latest CPI data underscores uneven progress towards the 2% target and current monetary policy phase calls for patience, while she also stated that CPI data reiterates it will take time to get inflation back down and it is too soon to say inflation is on a sustainable path to the 2% target.
UK CMA clears the deal for Microsoft (MSFT) to acquire Activision Blizzard (ATVI) without conditions, said Ubisoft (UBI FP) acquiring rights instead of Microsoft addressing its concerns. The new deal for Microsoft to buy Activision without cloud gaming rights has been cleared after the CMA concluded it would preserve competitive prices and better services.
US Rep. Scalise is reportedly dropping out of the US House Speaker race.
Israel’s ground military is building up on the Gaza Strip border, Sky News Arabia reports.
The Israeli military called for an evacuation of all civilians in Gaza City from their homes southwards and said Gaza City is an area where military operations take place, while it will operate significantly in Gaza City in the coming days, according to Reuters.
Israeli military informed the UN that all Palestinians north of Wadi Gaza should relocate to southern Gaza in the next 24 hours which amounts to approximately 1.1mln people, while the UN strongly appealed for any such order to be rescinded to avoid a calamitous situation, according to a UN spokesman. Furthermore, a Hamas official said the Gaza relocation warning is fake propaganda and it urged its citizens not to fall for it, according to Reuters.
Iran’s Foreign Minister said the continuation of war crimes will receive a response from the rest of the axes and ‘the Zionist entity’ will be responsible for that, while he added that the displacement of tens of thousands of Palestinians and cutting off water and electricity is considered a war crime.
US, Japanese and South Korean officials are to discuss North Korean matters on October 17th in Jakarta, Indonesia, while it was separately reported that North Korea warned of the consequences of US drills in South Korea, according to KCNA.
Indian Trade Secretary said a Free Trade Agreement with the UK is in an advanced stage of negotiations, according to Reuters.
Russian President Putin proposes hosting peace talks between Azerbaijan and Armenia in Moscow, according to Reuters.
CRYPTO
Bitcoin is steady under the USD 27,000 mark while Ethereum sees modest gains above USD 1,550.
APAC TRADE
APAC stocks were mostly lower amid headwinds from the US where headline CPI data topped forecasts, while the region also digested softer-than-expected inflation and mixed trade data from China.
ASX 200 was pressured with underperformance in real estate and tech alongside rising yields and as markets reflected on the latest gauges into the economic health of Australia’s largest trading partner.
Nikkei 225 traded negatively but with price action choppy and downside stemmed as Japan plans to release an economy security plan to protect vital industries like semiconductors and with index heavyweight Fast Retailing boosted by earnings.
Hang Seng and Shanghai Comp. were lower with tech the worst hit in Hong Kong amid broker downgrades and as the US reportedly eyes closing a loophole that gives Chinese companies access to American AI chips via units located overseas. Furthermore, Chinese inflation data underwhelmed with consumer inflation flat and factory gate prices at a deeper-than-forecast decline, while participants digested mixed trade data in which exports beat expectations but remained in contractionary territory.
NOTABLE ASIA-PAC HEADLINES
PBoC set the USD/CNY mid-point at 7.1775 vs exp. 7.3179 (prev. 7.1776).
PBoC Governor Pan met with Fed Chair Powell in Morocco on October 12th and exchanged views on cooperation, according to Reuters citing the PBoC.
PBoC official said stable CNY has a solid foundation; and will resolutely prevent the risk of CNY overshooting; China will maintain a current account surplus, according to Reuters.
PBoC said it will implement monetary policy in a precise and forceful manner. The official said the central bank still has ample room to support the economy. PBoC said recent interest rate reductions for the property sector have achieved significant results, and expects total social finance and credit to maintain steady growth in Q4, according to Reuters.
China’s NPC Standing Committee is to hold a meeting between Oct 20-24th; to discuss offer for new local government debt quota, according to Xinhua.
Chinese Vice Premier Zhang called for efforts to vigorously develop advanced manufacturing and accelerate new industrialisation, according to Chinese press.
China is said to weigh a new stabilisation fund to prop up the stock market with the plan calling for the fund to have access to up to hundreds of billions of yuan in capital, according to Bloomberg.
US eyes closing loophole that gives Chinese companies access to American AI chips via units located overseas, according to Reuters sources
China’s Customs said China’s trade still faces many difficulties and challenges, while it added that China’s trade also faces a complex and severe external environment.
Monetary Authority of Singapore maintained the width, centre and slope of the SGD NEER policy band, as expected, while it announced to shift to a quarterly schedule of policy reviews. MAS said it will closely monitor global and domestic economic developments amid uncertainty on inflation and growth, as well as noted that prospects for the Singapore economy are muted in the near term but should improve gradually in H2 2024.
S&P said Japan is robust enough for rising JPY rates, expects a gradual increase in Japan’s interest rates, and added that rates will rise from 2024, according to Reuters.
IMF said BoJ’s YCC tweak led to spillover in global bond market; could become larger in event of more substantial policy normalisation, according to Reuters.
DATA RECAP
Chinese Trade Balance (USD)(Sep) 77.71B vs. Exp. 70.0B (Prev. 68.36B)
Chinese Exports YY (USD)(Sep) -6.2% vs. Exp. -7.6% (Prev. -8.8%)
Chinese Imports YY (USD) (Sep) -6.2% vs. Exp. -6.0% (Prev. -7.3%)
Chinese Trade Balance (CNY)(Sep) 558.7B (Prev. 488.0B)
Chinese Exports YY (CNY)(Sep) -0.6% (Prev. -3.2%)
Chinese Imports (CNY)(Sep) -0.8% (Prev. -1.6%)
Chinese CPI YY (Sep) 0.0% vs. Exp. 0.2% (Prev. 0.1%)
Chinese PPI YY (Sep) -2.5% vs. Exp. -2.4% (Prev. -3.0%)
Singapore GDP QQ (Q3 P) 1.0% vs Exp. 0.5% (Prev. 0.3%)
Singapore GDP YY (Q3 P) 0.7% vs Exp. 0.4% (Prev. 0.5%)
Looking ahead, highlights include US Trade Balance & University of Michigan Inflation Prelim, Speeches from Fed’s Harker & ECB’s Lagarde, Earnings from JPMorgan, BlackRock, Wells Fargo, Citi, PNC Financial Services & Progressive Corp.
2 c. ASIAN AFFAIRS
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED DOWN 19.80 PTS OR .64% //Hang Seng CLOSED DOWN 424.76 PTS OR 2.32% /The Nikkei CLOSED DOWN 178.67 PTS OR 0.55% //Australia’s all ordinaries CLOSED DOWN 0.60 % /Chinese yuan (ONSHORE) closed DOWN AT 7.3073 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.3083 /Oil UP TO 86.31 dollars per barrel for WTI and BRENT DOWN AT 89.51/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER
2 d./NORTH KOREA/ SOUTH KOREA/
//NORTH KOREA/
END
2e) JAPAN
JAPAN/
end
JAPAN
end
3 CHINA /
CHINA/
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
German population wants a strong move to the right. Looks like the Germany government may collapse. The FDP party may be eyeing an early exit from the coalition
(Cody Remix)
Could Germany’s Government Collapse? FDP Could Be Eyeing Early Exit From Coalition
Germany’s governing coalition may be increasingly on shaky ground after the astounding string of election losses of the Free Democrats (FDP), the smallest partner in the country’s three-party coalition. Now, there are voices within the FDP calling on federal Finance Minister Christian Lindner, who is also chairman of the party, to abandon the left-liberal coalition after the poor outcome in Bavaria and Hesse over the weekend.
German Chancellor Olaf Scholz, right, and German Finance Minister Christian Lindner in the German Bundestag. (AP Photo/Markus Schreiber)
After the results came in, FDP MP Frank Schäffler told Bild newspaper that the ruling “traffic light” government has a “millstone around our neck” that is dragging the FDP “further and further into the abyss.” He demanded that the coalition agreement between the FDP and the other two parties be renegotiated or scrapped. Thuringian state leader, FDP’s Thomas Kemmerich, called the Greens an “overreaching party” that could not be relied upon to build any kind of stable government.
Lindner himself issued a stark warning that “the traffic light as a whole has lost legitimacy. Nobody can be satisfied with the federal government’s approval ratings. Improvements are necessary.”
German Finance Minister Christian Lindner delivers his speech during the first day of the budget 2024 debate at the Bundestag in Berlin, Germany, Tuesday, Sept. 5, 2023. (AP Photo/Markus Schreiber)
In addition, FDP Federal Vice President Wolfgang Kubicki also called for a “course correction” of the coalition in the federal government after the elections, while FDP General Secretary Bijan Djir-Sarai appeared on the ARD state-run channel, where he stated, “We have to find solutions in the coalition on the economy and the mega-issue of migration.” To do this, he said the FDP will sit down with the other parties and analyze “what common understanding we have or whether we have one at all.” His comments revealed his doubts about whether such a “common understanding” can actually be found.
Even before the election, Djir-Sarai described the FDP’s Green coalition partner as a “security risk for the country” over the raging migration crisis encouraged by the ruling government. The harsh words were seen as potentially both a warning, but also an attempt by the FDP to gain voters back. Regardless, many within the FDP are wondering why the party continues to govern with the Greens if it presents a “security risk.”
Germans want a change of government
There have been ongoing disputes within the three-party governing coalition of the Social Democrats (SPD), the Greens, and the FDP since nearly the beginning, but those disputes have only sharpened as discontent grows. While all three parties suffered serious losses following regional elections in Bavaria and Hesse, which saw the Alternative for Germany (AfD) outperform, the FDP in particular suffered, failing to even reach the 5-percent minimum threshold to enter parliament in Bavaria and just making it with 5 percent in Hesse.
Nevertheless, the public’s souring mood toward the ruling government may be one of the few factors keeping FDP from abandoning its coalition partners, as any snap election could see the party removed entirely from government. As German media outlet NTV reports, “If the FDP were to let the traffic light collapse prematurely out of fear of its own collapse, the coalition parties’ chances of being re-elected would be extremely poor. According to current surveys, the CDU is a full 10 percentage points ahead of the SPD, and the AfD is now almost twice as strong as the Free Democrats. The internal stability of the FDP has become a survival factor for the traffic light.”
A poll released yesterday by Bild newspapers shows that Germans want new elections and to cast out the left-liberal government, with immigration named as the top motivating issue.
String of losses adds up for the FDP
Bavaria and Hesse are hardly the only debacles facing the FDP since it joined the coalition, as the 2022 election cycle saw the party experience one loss after another. Last year, the FDP did not score high enough to reach the state parliament in Saarland and was also kicked out of the ruling government following elections in both Schleswig-Holstein and North Rhine-Westphalia. The party has also failed to secure entry in the state parliaments of Berlin and Lower Saxony.
Lindner has ruled out leaving the coalition, saying about the election over the weekend: “All three coalition partners have lost. And that’s why our job now is to critically examine our government work.” Nevertheless, there may come a breaking point for Lindner, especially as pressure grows on him within the ranks of his own party.
The issue of migration has become especially contentious. As Remix News has previously reported, the FDP has in principle no problem with mass immigration and is seeking to swamp the country with 500,000 migrants a year in order to provide business with cheap labor. However, the FDP has tried to stake out a stance on illegal immigration as the mood against immigration dramatically sours across Germany, a position increasingly complicated by the radical pro-migration sentiment of the FDP’s coalition partners.
Green Party leader Ricarda Lang has, for example, put forward a range of policies that will only encourage more illegal immigration, including sending more money to municipalities to pay for migrants and granting work permits to migrants from the first day they arrive in Germany. She also enthusiastically backs the EU’s new Migration Pact in order to relocate migrants across Europe, a policy vehemently rejected by Hungary and Poland.
The FDP’s status as the weak link in the ruling government is not going away anytime soon. Further losses could initiate a serious crisis for the party, and in turn, also the ruling federal government.
EU/MUSK/X
Again the EU threatens Musk. Musk demands concrete examples of alleged disinformation
(Cody Remix)
EU Threatens To Block X; Musk Demands Concrete Examples Of Alleged “Disinformation”
The European Union appears to be making its move against X, threatening to block the platform and hit it with massive fines over alleged “disinformation,” but the platform’s owner, Elon Musk, is requesting that the EU provide concrete examples to back up its claims.
Thierry Breton, the Commissioner for Internal Market of the European Union, has long threatened to take action against X with a wave of censorship, issued a public warning to Musk, claiming the platform failed to take action against illegal content related to Saturday’s Hamas terror attack on Israel. Breton threatened that Musk has 24 hours to respond to the claims being made.
“Public media and civil society organisations widely report instances of fake and manipulated images and facts circulating on your platform in the EU, such as repurposed old images of unrelated armed conflicts or military footage that actually originated from video games. This appears to be manifestly false or misleading information,” Breton wrote.
Musk, however, is asking for specific examples to back the claim and responded directly to Breton’s tweet.
Breton responded to Musk’s comment, claiming Musk is aware of the reports from “users” and authorities,” to which Musk responded that Breton should publish any reports openly on the platform. Breton has not responded and so far has kept the world community in the dark about the EU’s claims of disinformation.
Musk also responded to another user, saying he had not seen anything substantiating the EU’s claims, writing: “Maybe it’s in the mail or something.”
Although much of the European public is likely unaware that the EU’s Digital Service Regulation (DSA) even exists, the law came into effect of August of this year, which gives the EU broad powers to censor entire social media platforms, hit them with huge fines representing up to 6 percent of global revenue, or outright ban the service.
Pulitzer-prize-winning journalist Glenn Greenwald detailed in an X thread the NGOs and fact-checkers behind the efforts to implement widespread censorship across the platform, which Musk has promoted as a space for free speech, even if critics say censorship is still commonplace.
The EU may choose to proceed with fines first, as an outright ban could serve as a public relations debacle. Nevertheless, fines may be just as effective, if not more so, in bringing the platform down.
end
FRANCE
Not good: France bans pro Palestinian protests and now Paris erupts into riots
(Hal Turner)
Hal Turner Radio Show – UPDATED 3:55 PM EDT — AUTOMATIC **DEPORTATION** — France “BANS” Pro-Palestinian Protests/Speech/Flags – Paris Now Erupting in Riots
Israel gives 1.1 million North Gazans one day to evacuate. This is not good
(zerohedge)
Israel Gives 1.1 Million North Gazans 24 Hours To Evacuate As UN Warns Of “Calamitous Situation”
FRIDAY, OCT 13, 2023 – 08:00 AM
Starting about six to eight hours ago, Israel’s military began announcing that all Palestinian civilians in Gaza have 24 hours to evacuate from the north of the strip to the south. Leaflets are also being mass airdropped over the area. The northern part of Gaza constitutes over one million people, out of a total Gaza population of 2.3 million, all in the densely packed and blockaded strip of land.
“The IDF calls for the evacuation of all civilians of Gaza City from their homes southwards for their own safety and protection and move to the area south of the Wadi Gaza, as shown on the map,” the Israel Defense Forces alert said. Israel has mobilized some 300,000 reservists and has been engaged in a large-military build-up in the south of the country, readying a presumed major ground assault.
“Hamas terrorists are hiding in Gaza City inside tunnels underneath houses and inside buildings populated with innocent Gazan civilians,” the warning said additionally. “Civilians of Gaza City, evacuate south for your own safety and the safety of your families and distance yourself from Hamas terrorists who are using you as human shields.”
“You must evacuate your homes immediately and go to the south of Wadi Gaza,” leaflets in Arabic being dropped over Gaza City read. Wadi Gaza is about 8 miles southeast of the city center.
The IDF is now claiming that Hamas is preventing civilians from evacuating. Hamas did issue a call for Palestinians to say in their homes and not heed the Israeli ‘propaganda’ campaign and “psychological war” being waged.
Hamas urges residence to “remain steadfast in your homes and to stand firm in the face of this disgusting psychological war waged by the occupation,” AP reports. Gazans say they have nowhere to go, also after the lone Raffah border crossing with Egypt has at this point been bombed multiple times.
So far, the United Nations says that at least 400,000 Gazans have already been displaced. At over 1,500 Palestinians killed and over 6,600 wounded, it’s already a humanitarian disaster in the making, also with possibly between 100 and 150 Israeli and foreign hostages still being held by Hamas somewhere in the strip or in underground tunnels.
The UN has been urging Israel to rescind its evacuation order for Gazans, urging restraint:
A U.N. spokesman in New York estimated that there are 1.1 million people in northern Gaza—about half of the strip’s total population—and urged Israel to rescind its announcement to avoid “a calamitous situation.”
Critics of Israel’s policy say this could be the start of a deliberate mass displacement of Palestinians and an ethnic cleansing campaign. The IDF has shot back that Hamas is using Gazans as human shields:
But the US and others are standing by Israel as this all unfolds. “This is no time for neutrality, or false equivalence, or for excuses for the inexcusable. There is never any justification for terrorism, and that is especially true after this rampage by Hamas,” US Secretary of Defense Lloyd Austin said in fresh statements while meeting with Israeli leaders in Tel Aviv. “Hamas does not speak for the Palestinian people.”
“The world has just witnessed a great evil,” he added of the terror attacks of Saturday into Sunday, which left some 1,300 Israelis and foreigners dead (also from the rocket attacks).
“Make no mistake. The US will make sure that Israel has what it needs to defend itself,” Austin said, further agreeing with Netanyahu that “Hamas is ISIS” – as the Israeli talking point has been asserting.
Air raid sirens have been blaring in northern Israel as of Friday afternoon, also as southern towns have continued to face rockets fired from Gaza. Also heavy clashes between Palestinian demonstrators and Israeli police have been reported in West Bank towns.
END
ISRAEL/GAZA/UPDATES//EARLY MORNING FRIDAY
Americans Killed By Hamas Rises To 27, Over A Dozen Captive, As US Arranges Evacuation Flights
FRIDAY, OCT 13, 2023 – 03:55 AM
Update(1355ET): The White House has confirmed that it has hostage negotiation experts in Israel working with the government and advising on hostage recovery. This as the death toll of Americans killed in the Saturday Hamas attack has risen to 27.
The numbers of missing Americans now stands at 14, according to a briefing by National Security Council spokesman John Kirby. These are presumed to be in captivity in Gaza. “The U.S. does not know anything about the condition of the U.S. hostages held by Hamas,” Kirby confirmed.
Additional developments from various news wires and breaking headlines:
Israel says it has dropped 6,000 bombs in six days of bombardment
Israeli minister says no electricity, fuel or humanitarian aid into Gaza until Hamas releases all captives taken in unprecedented attack.
UK to send navy ships, surveillance planes to support Israel
Hamas calls high civilian death toll from Saturday assault “collateral damage” – ‘Things went out of control’: Hamas addresses high Israeli civilian death toll
After Blinken, Pentagon chief to also visit Israel
Blinken in Tel Aviv: As long as US exists, Israel won’t have to defend itself alone
Two Israeli police officers wounded, one seriously, in shooting near Old City in Jerusalem
Blinken says none of $6 billion in Iranian funds in Qatar have been spent or accessed
Netanyahu: Unity government sends a ‘huge message’; Israel will wipe out ‘barbaric’ Hamas
US to arrange charter flights for citizens to depart Israel
Marine unit leaves Kuwait exercise early because of ‘emerging events’
‘No conditions’ on use of US military support to Israel: Defence Sec. Austin
Families of UK citizens held hostage in Gaza beg for help: Captors ‘have no mercy’
Kirby: we support X taking down some misinformation on conflict
Kirby: grateful that X removed misinformation on Israel attack
Russia: Israeli airstrikes on Syria are a gross violation of sovereignty of Syria and basic norms of international law
The IDF build-up ahead of an expected ground assault into Gaza continues…
Testy media exchanges grow…
More calls for US action against Iran…
Pushback against prevailing Western media coverage from Al Jazeera…
New IDF footage of elite team…
Growing outrage over mounting Gaza civilian deaths…
* * *
Update(0948ET): Iranian state sources say foreign minister Hossein Amirabdollahian’s plane has landed in Baghdad. It’s unclear whether he will continue on his trip to visit Syria, which some reports say is scheduled for tomorrow.
State media said his trip is “in light of the current Palestinian events, the crimes committed against Gaza and their dangerous ramifications.” At this moment, it appears the only functioning major airport in Syria is in Lattakia, or there would also be the possibility of the Iranians utilizing the Russian airbase. Syria also has military airports.
The Iranian aircraft that turned around just as Israel attacked the Syrian airports does not appear to have been the government plane carrying the Iranian FM.
* * *
Two days ago rockets were fired from Syria into the Israeli-occupied Golan Heights, which regional media sources said was in “solidarity” with the Palestinian cause as war rages in Gaza. Likely it was a Syrian Army strike, but there remains the possibility of associated militias having conducted it, such as ‘Iran-linked’ groups.
IDF Spokesperson Jonathan Conricus said at the time, “Attacks, rockets were fired from Syria into Israel. We do not yet know if these rockets were fired by the Syrian National Army (SNA), by any of the many Iranian militias that exist and are welcomed by the Syrian regime or Hezbollah or any other faction. What we do know is that we retaliated towards the sources of fire and currently the situation there is quiet and let’s hope that it remains that way.”
But it seems Israel is indeed holding the Syrian government under Bashar al-Assad responsible, as on Thursday the IDF has struck back against Syrian targets. Syrian state television is now confirming that Israel has launched attacks on the country’s two main international airports, in the capital of Damascus and Aleppo in the north. It happened while an Iranian plane was inbound.
According to Reuters, “Local media channel Sham FM said Syrian air defenses were launched in response to both attacks. It said here had been damage but no casualties at the Aleppo airport, but did not give any information on the impact of the strike on Damascus Airport.”
State media has confirmed that the Israeli strikes hit runways and have left both airports out of commission. It’s not the first time Israel has attacked these airports, but them being both hit in a simultaneous operation appears a first. The Israeli army spokesman has also announced, “We bombed Damascus and Aleppo airports in response to the firing of mortar shells from Syria.”
There are reports that an Iranian plane has turned around due the the strikes on both airports, with Israeli newspaper Haartz writing,
“An Iranian plane turned around towards Tehran following airstrikes at the international airports in Damascus and Aleppo.”
Some aviation monitoring sources have speculated this may have been the plane of the Iranian foreign minister; however, there have been somewhat routine Tehran to Syria flights. Israel’s fresh attacks have sent a message to Tehran along with being retaliation for the earlier Syrian attack on the Golan Heights.
“The attacks came a day before Iran’s foreign minister, Hossein Amirabdollahian, was due to visit Syria,” Reuters notes. “On Thursday, technical teams were out to determine the extent of damage at both sites, Syria’s transport ministry said.”
Both Washington and Israel have issued strong warnings to Iran, Syria, and Lebanese Hezbollah to not enter the Hamas-Israel conflict.
There have been emerging reports in Western media saying that the Iranians may have actually been taken by surprise with Saturday’s major Hamas incursion into southern Israel. The intelligence consensus out of US officials speaking to the media has been that while Iran has financed Hamas for years, it likely didn’t have direct involvement in the operation.
end
This is why Israel must destroy Hamas for good
(zerohedge)
Hamas Has Long-Range Rocket That Triggered Sirens In Northern Israel
FRIDAY, OCT 13, 2023 – 09:45 AM
In a new, dangerous development, Hamas has just demonstrated on Friday that it possesses longer range rockets capable of reaching targets in northern Israel.
That’s precisely what Israel’s military and media are acknowledging after a long range rocket launched from the Gaza Strip was intercepted over the north by the David’s Sling medium-range air defense system.
It constitutes only the second known time in several years that Hamas has used its Ayyash 250 rocket to reach faraway targets. The launch had set off sirens in northern Israel.
Rocket sirens sounded in northern Israel near Safed and east of Haifa on Friday afternoon, with Hamas’s al-Qassam Brigades claiming that it had fired an “Ayyash 250” rocket toward Safed.
The IDF confirmed that one rocket fired from the Gaza Strip was intercepted over Haifa.
Shortly after the rocket fire, Israel’s fire and rescue service reported it was working to contain a fire that had broken out in an open field near Kiryat Ata.
And according to Middle East and security analyst Michael Horowitz, “The Ayyash 250 is named after Yahya Ayyash, a senior Hamas bombmaker, with the number 250 referring to its range. It was first used in 2021 to fire against the Ramon airport near Eilat.”
It is widely believed that generally Hamas rockets don’t have more than a 160km reach. But a Hamas spokesman recently boasted to CNN:
“We have local factories for everything, for rockets with ranges of 250 km, for 160 km, 80km, and 10 km. We have factories for mortars and their shells. … We have factories for Kalashnikovs (rifles) and their bullets. We’re manufacturing the bullets with permission from the Russians. We’re building it in Gaza,” Ali Baraka, head of Hamas National Relations Abroad, is quoted as saying.
Hamas observers have said that the Washington-designated terror group gets most of its weapons externally via underground tunnels, likely from US adversaries like Iran.
end
We are closer to a nuclear blast!
Robert h to us:
Muslims Crash Through Israeli Border to Support Palestinians in Gaza
This will become a complete shit show that can go out of control. Once chaos takes hold it will run its’ course
If Hezbollah and Iran enter the war, nukes will fly
(zerohedge)
Iran FM Meets Nasrallah, Threatens To Open Hezbollah War With Israel If ‘Brutality’ Against Gaza Doesn’t Cease
FRIDAY, OCT 13, 2023 – 11:15 AM
On Friday Lebanese Hezbollah released a rare photograph of a meeting between Hezbollah Secretary General Hassan Nasrallah and Iranian Foreign Minister Hossein Amir-Abdollahian. The two discussed the Gaza crisis and ongoing hostilities with Israel, also after days of internecine shelling and exchanges of fire along the Israel-Lebanon border.
Hezbollah’s Media Relations Office’s emphasized that the two allies discussed how to provide continued support to the Palestinian people amid what Hamas has dubbed its “Operation Al-Aqsa Flood” – which has resulted in the deaths of some 1,300 Israelis, including Americans. Israel has in the meantime dropped over 6,000 bombs on the Gaza Strip over a period of five days.
“From Beirut, we firmly declare that the international community and Islamic nations cannot stand idly by in the face of the persistent war crimes perpetrated by the Israeli entity against the Palestinian populace,” Amir-Abdollahian said.
And importantly according to one Beirut-based news source, “He also stressed that a new front against Israel could be opened if the brutality unleashed against the population of Gaza and the occupied West Bank continues.”
“In the case of the continuation of war crimes and the humanitarian blockade of Gaza and Palestine, every possibility and decision by the other currents of the resistance is possible,” the Iranian foreign minister stated. “The forced displacement of Palestinians within a mere three days, coupled with the denial of basic necessities such as water, electricity, and medicine to the people of Gaza, unequivocally constitutes a grave war crime on the part of the Zionist entity.”
The top Iranian diplomat had also met with Lebanese caretaker Prime Minister Najib Mikati. The two discussed the possibility of the war spreading. In prior battles between Israel and Hezbollah, Israeli forces typically punish the whole country of Lebanon, for example with attacks on Beirut airport – as happened in 2006.
Meanwhile there are fresh reports that Israeli forces have shelled south Lebanon once again on Friday:
ISRAELI SHELLING HITS LEBANESE ARMY OBSERVATION IN DHAYRA, SOUTH LEBANON – THREE SOURCES
IDF says an explosion slightly damaged a section of the security wall on the Lebanon border near Hanita. Troops responding with artillery fire, and scanning the area for possible suspects that infiltrated into Israel.
Iran FM Amir-Abdollahian on Thursday was in Iraq, and he is due to visit Damascus on Friday. On Thursday, Israeli airstrikes disabled both international airports in Damascus and Aleppo, in what was widely seen as a ‘message’ to Assad and Iran.
Israeli helicopters have been spotted over or near south Lebanon…
While Iranian officials are in Beirut and Damascus, US officials continue visiting Tel Aviv to show support for Israel, Defense Secretary Lloyd Austin being the latest to meeting with Israeli officials Friday.
* * *
END
Israeli’s begin localized raids into GAZA searching for the hostages
(zerohedge)
Israeli Infantry, Tank Units Begin ‘Localized Raids’ Into Gaza To Locate Hostages
FRIDAY, OCT 13, 2023 – 12:40 PM
(Update1240ET): As a number of countries, especially regionally (as well as UN representatives),continue calling on Israel’s military to halt its impending ground offensive of Gaza given the likelihood for immense civilian casualties, the IDF has announced “localized raids” have begun.
This has included limited incursions into Gaza by infantry and tank units, to both prepare for a broader offensive and in efforts to locate hostages. The IDF said intelligence could be gained by these raids “that may help in the effort to locate the missing.”
“The IDF says the troops also killed a number of terrorists in the area, including a Hamas cell that launched anti-tank guided missiles at Israel,” Times of Israel reports. “The troops did not enter deep into Gaza.”
The IDF further said the infantry has already “thwarted anti-tank guided missile squads that intended to infiltrate into Israeli territory.” A statement added: “The forces located findings that may help in the effort to locate the missing.”
“We will continue to make every effort to find every detail about the missing and hostages,” a spokesman said of the anywhere between 100 to up to 200 people taken hostage in the weekend Hamas raids into southern Israel.
To the north, fighting along the border with Lebanon continues to intensify. Israel has shelled locations in southern Lebanon, reportedly resulting in casualties among journalists, including a Reuters team. This has been confirmed by Reuters in a new statement:
We are deeply saddened to learn that our videographer, Issam Abdallah, has been killed. Issam was part of a Reuters crew in southern Lebanon who was providing a live signal. Our thoughts are with their families at this terrible time.
Footage from today’s IDF aerial campaign over Gaza:
The Pentagon has meanwhile confirmed departure of the first evacuation flights of US citizens out of Israel:
FIRST US CHARTER FLIGHT HAS DEPARTED FROM ISRAEL: KIRBY
And a new White House statement:
WHITE HOUSE SPOKESMAN KIRBY THERE IS NO SPECIFIC INTELLIGENCE INDICATING THREAT TO U.S. STEMMING FROM HAMAS ATTACK
END
this afternoon!
Israel Gives Major Hospital In Northern Gaza 2 Hours To Evacuate Staff & Patients
FRIDAY, OCT 13, 2023 – 02:25 PM
Update(1425ET): Fears of an imminent all-out ground and aerial assault are growing, after one of northern Gaza’s main hospitals has sent out an SOS message. Hospital officials say they’ve been given two hours to evacuate. The WHO has decried this as life-threatening for patients there:
A Gaza activist organization describes of the hospital:
Al Awda Hospital, established in 1997, is the first-line hospital in the Gaza Strip and provides health services to all inhabitants in the northern part of the region. Al Awda is the main provider of maternity services in the northern part of the Gaza Strip and is the only provider of Fluoroscopy services. It is also authorized as an educational hospital from some universities in the Gaza Strip to train nursing students.
But where will they go?
* * *
end
6.GLOBAL ISSUES AND VACCINE/COVID ISSUES
GLOBAL ISSUES
Ikea recognizes globally the contraction of economies. They are cuttting worldwide prices
(zerohedge/Ikea)
Ikea Plans Worldwide Price Cuts After Warning: “Time To Buckle Up”
FRIDAY, OCT 13, 2023 – 05:45 AM
The world’s largest furniture retailer plans to cut the prices of sofas, beds, appliances, and much more across all locations as macroeconomic headwinds crush consumers.
“We came into 2023 with higher prices than we wanted. We have lowered prices at the end of 2023 and into 2024. Supply costs started to come down for us,” CEO Jon Abrahamsson Ring of Inter Ikea Group, the worldwide franchiser for the retailer, said in an interview with the Financial Times.
Jesper Brodin, CEO of IKEA Retail, added: “These are times to buckle up. It’s not going to be an easy ride in the next few years. What I see this year is due to interest rates being where they are our customers are challenged. So we have been taking down our prices, every market is investing in lower prices.”
Ikea executives pointed out that sharp price hikes in recent years are now reversing, allowing them to begin cutting furniture prices. However, they admitted price cuts might not be able to stoke demand as recession risks worldwide were materializing.
“In what ways does it stimulate consumption? Is it possible to generate growth through affordability? During the Lehman Brothers crisis [in 2008] it was possible in northern Europe, but not southern Europe,” said Brodin.
FT noted Ikea has moved away from big-box stores to offering small shops in metro areas and offering more services such as delivery, assembly, and planning with customers.
The timing of Ikea’s planned price cuts comes as the luxury market is deteriorating in the Western world. Rolex and diamond prices are cratering from post-Covid highs, Mercedes S-500s are experiencing slowing demand, and luxury conglomerate LVMH reported this week that demand for leather goods, perfumes, watches, and wine worldwide was sliding.
People who took hydroxychloroquine in combination with another drug while hospitalized with COVID-19 were less likely to die than those who didn’t, according to a new study.
Hydroxychloroquine, which is widely used against malaria and arthritis, was given to hundreds of patients hospitalized with COVID-19 in Belgium. Thousands of others didn’t receive the drug.
Researchers examined records from 352 adults hospitalized in AZ Groeninge Hospital in Kortrijk, Belgium. All patients tested positive for COVID-19 or had results from CT scans that suggested COVID-19 was present. Patients received hydroxychloroquine alone or with azithromycin, an antibiotic. They were scanned before and after treatment.
Researchers compared the results of the record analysis with a control group of 3,533 people hospitalized across Belgium with COVID-19 from March 14, 2020, to May 24, 2020. The people didn’t receive hydroxychloroquine but did receive standard of care.
Twenty-eight days following the diagnosis of COVID-19, 59 people treated with hydroxychloroquine had died. The mortality percentage, or 16.7 percent, was lower than the 25.9 percentage in the control group.
Researchers found patients who received hydroxychloroquine were more likely to survive even after adjusting for age and other factors.
“Our study suggests that, despite the controversy surrounding its use, treatment with hydroxychloroquine and azithromycin remains a viable option,” Dr. Gert Meeus, a nephrologist with AZ Groeninge Hospital, and other researchers wrote.
The study was published by the journal New Microbes and New Infections. Limitations include the retrospective nature of the study and differences between the treatment and control groups, including the former being younger on average. Authors declared no conflicts of interest or funding.
The research adds to a mixed dataset on hydroxychloroquine against COVID-19.
Some other studies have found that hydroxychloroquine recipients were less likely to die, including a study that analyzed records from a health system in Michigan. Many of the positive findings concerned hydroxychloroquine in combination with azithromycin.
Others have found little or no evidence that hydroxychloroquine affects COVID-19, including a U.S.-government funded study across 34 hospitals.
Hydroxychloroquine is approved by the U.S. Food and Drug Administration but the agency has warned since mid-2020 against using it for COVID-19. Belgian regulators rescinded authorization for hydroxychloroquine for COVID-19 in June 2020.
Dosage Issue?
Hydroxychloroquine proponents say that the amount of the drug, and when it’s given, is key to properly studying how it affects COVID-19.
Dr. Meeus and the other Belgian researchers acknowledged clinical trials that did not find a benefit for hydroxychloroquine, as well as some observational studies. Other observational papers have suggested hydroxychloroquine is effective.
“A potential explanation for the discrepancy between the results in the observational trials and the large randomized trials may be the use of a different dose of hydroxychloroquine,” they said.
The researchers started with 400 milligrams, two times a day, on day one. That was followed by 200 milligrams a day for five days, in line with national guidelines.
In the clinical trials that found no benefit, patients received four times as much hydroxychloroquine.
“Our treatment was lower and also used the antibiotic azithromycin. This double treatment is a possible explanation for why we found positive effects, but other studies did not,” Dr. Meeus told Doorbraak.
Peter Horby, a spokesman for one of the trials, told The Epoch Times previously that the dosage amounts were “carefully selected” and “designed to achieve the concentrations needed to inhibit the virus as quickly and safely as possible.”
Dr. Meeus told Doorbraak that further research needs to be done on the drug, or HCQ, but that it very well could be beneficial.
“HCQ is not a panacea, and of course, further research needs to be done. After all, you can’t just conclude from an observational study like ours whether something works or not,” he said. “But look, we have followed the protocol as it was originally prescribed in Belgium. A study … also showed in early 2020 that HCQ did lead to lower mortality. If the results of our study confirm this again, we think it is very plausible that the drug has helped quite a few patients.”
Must be detoxified. The spike protein is responsible for the pathogenicity of the SARS-CoV-2 infection and drives the development of adverse events, injuries, disabilities, and death after vaccination
‘The spike protein is responsible for the pathogenicity of the SARS-CoV-2 infection and drives the development of adverse events, injuries, disabilities, and death after vaccination through immunologic and thrombotic mechanisms. The long-lasting spike protein has been found in the brain, heart, liver, kidneys, ovaries, testicles and other vital organs at autopsy in cases of death after vaccination. In the case of vaccine-induced thrombotic injury, the spike protein has been found within the blood clot itself.
How you like them apples? And America courtesy of BIDEN INC. are pushing America to WW III as Biden himself orchestrates an INVASION of America from Southern border with jihadists, rapists, murderers
Yes, you read that right, I am saying the President of the United States has invaded America via the Southern Border. And now, as you see with Hamas in Israel, we are also exposed fromn ‘within’ for we have not tens, or hundreds, or thousands, or hundreds of thousands, but millions of military aged men who were let into the US across Biden’s term and they have NOT been vetted, NOT been. Across Obama & Biden’s 8 years too. There are killer jihadist terrorists among them who WILL kill Americans in time. You MUST guard your 2nd closely and use it.
France where local media reported that the assailant—who was known to the authorities as an Islamist radical—shouted “Allahu Akbar” during an attack on multiple people at a school.
The United States has slapped sanctions on two tanker owners for carrying Russian oil sold for over $60 per barrel.
This is the first time the U.S. is imposing sanctions for a breach of the price cap that the G7 and the European Union agreed to impose on Russia last year.
For several months, Russian crude traded lower than the price cap anyway, which made the cap easily enforceable. This year, however, as benchmark prices began to climb so did the prices for Russian crude, and by September the gap between the G7 price cap and the actual price at which Russian crude sold was over $20 per barrel.
Earlier this week, Treasury Secretary Janet Yellen said that the price cap on Russian oil has “significantly reduced Russian revenue over the last 10 months while promoting stable energy markets.” Yet it appears the cap has not reduced Russian revenue enough if further enforcement action was necessary.
One of the sanctioned companies is Turkish Ice Pearl Navigation, which, according to the Treasury, owns a vessel that carried Russian ESPO crude sold for over $80 per barrel.
The other company is based in the United Arab Emirates, called Lumber Marine SA, which owns a tanker that carried a cargo of Russian Novy Port crude that sold for over $75 per barrel, Reuters reported.
“Because of the actions we’re announcing today, and the further actions we will take in the coming weeks and months, these costs will continue to rise and Russia’s ability to sustain its barbaric war will continue to weaken,” a Treasury official told media.
The International Monetary Fund has forecast Russia’s economy would grow by 2.2% this year—an upward revision from an earlier forecast for 1.5% growth. For the United States, the IMF has forecast growth of 2.1% for 2023.
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
AUSTRALIA
ROBERT H TO US:
This is awful!
Hamas supporters TAKE OVER Sydney, Australia while government tells JEWS to stay home and not show their faces – NaturalNews.com
Australia, France and many more will experience this in days to come. Meanwhile escalating oil prices will take their scenic and economic toll.
Hamas supporters TAKE OVER Sydney, Australia while government tells JEWS to stay home and not show their faces
Sydney, Australia was the epicenter of tyranny during the Covid plandemic, where citizens were abused by medical terrorism, denied medical freedom, and force-injected with vascular clotting prions. Now, a new form of terrorism is taking over the streets, as Hamas supporters march freely, while Jewish folks are ordered to shelter in place, to avoid being “identified.” Sounds like the beginnings of Nazi Germany all over again. Palestinian terror group advocates marched through the main business district of Sydney for a gathering at the iconic Opera House, while all Jews in Australia’s biggest city were warned, stay home or be chosen for possible execution.
Jews warned to avoid downtown harbor while terrorists hijacked city center
David Adler, the President of the Australian Jewish Association, and his fellow Jews, have been “warned.” In what was supposed to be a tribute to fallen Israelis from the new war (several were beheaded on live television), has become a terrorist-supporting parade of sorts where Jews are forbidden to attend, and some have already been taken away by police for simply carrying an Israeli flag.
Apparently, religious persecution is underway in Australia, and the Jews are being identified on site. Will all Jews there be forced to wear yellow ribbons on their shirt sleeves again? Will serial numbers be tattooed on their forearms to “protect” them (send them to ghettos and concentration camps for execution)?
The Palestine Action Group Sydney is demanding support for a Palestinian takeover of Israel and the authorities are warning all Jews that they are “at risk” if they are “identified as Jewish” in Sydney.
So the story goes, Hamas terrorists attack Israel, Biden takes a vacation, and the tyrannical government in Australia tells Jews to shelter in place while terrorist-supporting groups parade through the city supporting more terrorism to come. This comes after the Biden Regime handed billions of dollars to terrorists, and now says that money did not help them arm up and attack Israel. Sure.
“Free Palestine” means kill as many Jews as possible, according to the tyrannical regimes that support beheading innocent Israelis, American tourists, and kidnapping and torturing teenagers and young adults that go to disco clubs in Gaza. Should anyone march peacefully in support of Israel in Sydney, or Washington D.C., for that matter, you are likely to be incarcerated with no trial in sight, like the January 6’ers, or handed over to Hamas terrorists for some Nazi-style “re-education.”
Are the Jewish people in Australia some kind of “burden” on society there? Will the handicapped, elderly, and autistic Jews be sent to concentration camps for opposing the new terror regime? Only time will tell.
As the war in and around Israel heats up, watch for the governments around the world that support terrorism (Democrats in Washington D.C. under the guidance of Obama) to react, as they send money, guns, tanks, and bombs to known Nazi-sympathizers and terrorists, just like they are doing RIGHT NOW in Ukraine.
The globalists love war, turmoil, uprisings, and fighting among citizens of any nation, because it makes them money and helps them overthrow rulers, so they can take over. This action in Sydney is a perfect example of that, where a government entity supports terrorists while suppressing the rights of peaceful citizens. Don’t let history repeat itself. Be sure to support peace, prosperity, and government officials who do the same, instead of warmongers who identify themselves with their outright support of terrorists.
Bookmark Censored.news to your favorite websites for truth news about Australia and the Biden Regime completely supporting Hamas terrorists while ignoring the needs of innocent people, including Americans.
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 7;30AM//OPENING AND CLOSINGS
EURO VS USA DOLLAR: 1.0526 DOWN 0.0009
USA/ YEN 149.60 DOWN .188 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2185 UP 0.0003
USA/CAN DOLLAR: 1.3675 DOWN .0009 (CDN DOLLAR UP 9 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 19.80 PTS OR .64%
Hang Seng CLOSED UP 424.76 PTS OR 2.33%
AUSTRALIA CLOSED DOWN 0.60% // EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG DOWN 424.76 PTS OR 2.33%
/SHANGHAI CLOSED DOWN 19.80 PTS OR .64%
AUSTRALIA BOURSE CLOSED DOWN 0.60%
(Nikkei (Japan) CLOSED DOWN 178.67 PTS OR 0.55%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 1898.50
silver:$22.39
USA dollar index early FRIDAY morning: 106.12 DOWN 4 BASIS POINTS FROM THURSDAY’s CLOSE.
The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.3048
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.3097)
TURKISH LIRA: 27.81 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.757…VERY DANGEROUS
Your closing 10 yr US bond yield DOWN 4 in basis points from THURSDAY at 4.629% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.786 DOWN 9 in basis points ON THE DAY/12.00 PM
USA 2 YR BOND YIELD: 5.047 DOWN 2 BASIS PTS.
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY: CLOSING TIME 12:00 PM
London: CLOSED DOWN 45.18 POINTS or 0.59%
German Dax : CLOSED DOWN 238.37 PTS OR 1.55%
Paris CAC CLOSED DOWN 101.00 PTS OR 1.42%
Spain IBEX DOWN 108.10 PTS OR 1.10%
Italian MIB: CLOSED DOWN 256.33 PTS OR 0.90%
WTI Oil price 86.43 12: EST
Brent Oil: 89.60 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 97.33; ROUBLE UP 0 AND 10//100
GERMAN 10 YR BOND YIELD; +2.7260 DOWN 4 BASIS PTS
UK 10 YR YIELD: 4.420 DOWN 4 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0512 DOWN 0.0024 OR 24 BASIS POINTS
British Pound: 1.2137 DOWN .0045 or 45 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.423% DOWN 4 BASIS PTS//
JAPAN 10 YR YIELD: .758%
USA dollar vs Japanese Yen: 149.53 DOWN 0.261 //YEN UP 26 BASIS PTS//
USA dollar vs Canadian dollar: 1.3659 DOWN .0025 CDN dollar UP 25 basis pts)
West Texas intermediate oil: 87.40
Brent OIL: 90.78
USA 10 yr bond yield DOWN 8 BASIS pts to 4.638%
USA 30 yr bond yield DOWN 7 BASIS PTS to 4.779%
USA 2 YR BOND: DOWN 2 PTS AT 5.056 %
USA dollar index: 106.44 UP 8 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 27.79 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 97.24 UP 0 AND 19/100 roubles
GOLD 1927.90
SILVER: 22.71
DOW JONES INDUSTRIAL AVERAGE: UP 39.15 PTS OR 0.12%
NASDAQ DOWN 188.99 PTS OR 1.24%
VOLATILITY INDEX: 19.52 UP 2.83 PTS (16.96)%
GLD: $178.83 UP 5.57 OR 3.21%
SLV/ $20.78 UP 0.82 OR 4.11%
end
USA AFFAIRS
USA TRADING IN GRAPH FORM
Israel & Inflation Spark Big Week For Bonds, Bullion, & Black Gold
FRIDAY, OCT 13, 2023 – 04:00 PM
JPM’s boss summed shit up succinctly:
“This may be the most dangerous time the world has seen in decades,” Jamie Dimon said in a statement accompanying the bank’s quarterly earnings, warning of “far-reaching impacts on energy and food markets, global trade and geopolitical relationships.”
…and it was a short-week for bonds to deal with all this.
Good: Earnings (this morning, results from JPM, WFC, Citi, and UNH are all being taken positively)
Bad: Inflation (CPI, PPI, & UMich all hotter than expected) and Consumer Confidence tumbled (on cost of living concerns)
Ugly: Geopolitical chaos (you know that story) and long-bond auctions (is the world turning its back?)
Stickier-than-expected ‘actual’ inflation and soaring ‘expected’ inflation piled on to geopolitical risk this week as US macro data disappointed…
Source: Bloomberg
…with ‘soft’ survey data starting to roll over and catch down to ‘hard’ data’s dive…
Source: Bloomberg
But it was ‘war hedges’ that dominated…
Gold surged over 5% this week after the attacks on Israel – its biggest weekly jump since March – sending spot prices back above $1900…
Source: Bloomberg
Oil prices also soared with WTI up over 5% on the week (its second biggest weekly gain since April)…
Bonds were bid with the long-end dramatically outperforming…
Source: Bloomberg
But 2Y yields bounced back above 5.00%, flattening the yield curve (2s30s) dramatically on the week (but still well off the mid-Sept lows)…
Source: Bloomberg
VIX spiked back above 20 as protection-buyers stepped in, sending skews and VVIX soaring…
Source: Bloomberg
On the week, Small Caps were clubbed like a baby seal but Nasdaq ended perfectly unchanged while the S&P and Dow managed modest gains – despite some ugly down-drafts intraday…
Energy and Utes outperformed while the consumer was punched in the face…
Source: Bloomberg
Airlines worst weekly drop since March…
Source: Bloomberg
JPM, WFC, and C all ended the week higher (helped by today’s earnings)…
Source: Bloomberg
But, despite big bank earnings beats, the Regional Banks index was dumped…
“Most Shorted” stocks fell for the 9th week of the last 11 to its lowest weekly close since May 2020…
Source: Bloomberg
The dollar ended marginally higher, driven mostly by a post-CPI panic-bid yesterday. But notably, the Bloomberg dollar index stalled at the pre-payrolls level from last Friday..
Source: Bloomberg
Crypto dropped on the week with Bitcoin finding support around $26,500…
Source: Bloomberg
Ethereum was also monkeyhammered lower, now at its weakest relative to Bitcoin since July 2022…
Source: Bloomberg
Silver also soared with futures tagging $23 intraday…
Finally, we note that financial conditions were basically flat this week after tightening dramatically from mid-Sept…
Source: Bloomberg
It’s notable because, as Nomura’s Charlie McElligott notes, this leads to a dysfunctional feedback loop where, ironically, via the Fed’s extreme FCI reflexivity “The Fed says ‘the market did the (tightening) job’ for them over multiple weeks…but then the market undoes that job in the matter of just a few days”
McElligott’s current state of “the psychological chop”:
Will it “be over” enough to warrant action?
EARLY MORNING TRADING/
Oil & Gold Are Soaring As MidEast Conflict Escalates
FRIDAY, OCT 13, 2023 – 08:34 AM
While the dollar is relatively flat overnight, both gold and crude are soaring (and bonds bid) as fears of what lies ahead this weekend in Israel and Palestine spark risk-off around the world.
The dollar has gone nowhere since reaching last Friday’s pre-payrolls level…
The Israel-Hamas war hasn’t had any direct effect on global oil supplies and flows so far, but traders are wary that the conflict could disrupt transportation through vital chokepoints or lead to tougher restrictions on Iranian exports. Additionally, the US tightened sanctions on Russian crude exports, which exacerbated concerns about supplies…
And gold has done nothing but rise since the Hamas attack in Israel…
Spot gold now back above $1900 and bonds are bid again, retracing much of yesterday’s CPI spike…
Equities are unsure for now – knowing lower yields = good for tech, BUT not if yields are lower for the ‘wrong’ reason.
TUCKER CARLSON..
Tucker Talks Illegal Immigration: “Country Changing Faster Than Ever…But Not Through Democratic Means”
FRIDAY, OCT 13, 2023 – 01:00 PM
Tucker Carlson dived into the third-rail topic of illegal immigration, and the growing crisis at America’s southern border that an increasing number of Democrat governors and mayors are now recognizing is unsustainable.
Emphasizing its significant impact on the fundamental nature of nations, Carlson expressed concern that the character and success of a nation are inevitably shaped by its population and that unchecked demographic shifts can lead to chaos.
He warns that US leadership is turning a blind eye to these dramatic changes driven by mass immigration, underscoring his point by stating:
“The result is a country, our country, that is changing faster than it ever has but not through Democratic means.”
Todd Benman, a journalist and author, shared insights with Carlson from his experiences on the border, revealing an alarming increase in illegal immigration rates.
These figures have surpassed all previous records, with daily apprehensions reaching an astounding 14,000 individuals:
“This mass migration crisis of the last 36 months… broke every record in the national history books already.”
As the conversation progressed, the topic shifted to how these demographic changes are transforming places like Texas, with challenges to public order and shifts in political balances.
Even more worrisome, Benman warns of national security issues:
“We’ve had a record-breaking number of immigrants apprehended who are on the FBI’s terrorism watch list.”
Finally, a European perspective was offered by Dominik Tarczynski, a European Parliament member from Poland.
He championed Poland’s rigid stance on illegal immigration, linking the policy to the nation’s security track record.
As Tarczynski succinctly put it, “Zero illegal migration equals zero terrorist attacks. The safest place in Europe – Poland.”
Carlson concludes by asking what advice Tarczynski would give Republican lawmakers now, a year out from an election (who Carlson says are “cowards” for not pushing back against Democrats). Tarczynski’s advice is simple:
“Be brave… or you will not exist. Be brave… believe in your values, believe in family. Don’t talk about it, do it! This is war, this is not a joke.”
(3:00) Todd Bensman at the Border (5:40) Guaranteed Entry into America (13:20) Dominik Tarczynski (18:50) “Not one illegal immigrant in Poland. Ever.”
end
II USA DATA
If this does not scare investors/market, nothing will: the bank’s use of Fed’s emergency funds increases to a new record high 109 billion dollars. This money must be returned to the Fed by March of 24. Also another huge withdrawal of deposits from our banks
(zerohedge)
Banks’ Use Of Fed’s Emergency Funds Hits New Record High; Retail Money-Market Fund Inflows Surge
THURSDAY, OCT 12, 2023 – 04:40 PM
Money-market funds saw a de-minimus $1.6BN outflow last week, still hovering near record highs at $5.7TN…
Source: Bloomberg
But, once again, retail funds saw inflows ($11.5BN) – no outflows since April – while institutional funds saw $13BN outflows…
Source: Bloomberg
Last week’s mysterious surge in bank deposits leaves the spread to money-market funds back at record wides…
Source: Bloomberg
The Fed’s balance sheet shrank by a modest $3.7BN last week
Source: Bloomberg
The Fed’s QT program slowed dramatically last week with just a $1.9BN decline…
Source: Bloomberg
Usage of The Fed’s emergency funding facility rose to a new record over $109BN… this week saw the biggest jump in the BTFP since July.
Source: Bloomberg
Fed balance sheet weekly change:
Discount Window drops by $200MM to $2.6BN
BTFP up $1.2BN to new record $108.9BN
FDIC loans (new credit extensions) down $5.5BN to $58.3BN
And finally, as we head into bank earnings tomorrow, a quick reminder…
Source: Bloomberg
That’s a $109BN hole in their balance sheets that needs to be filled by next March.
And given the recent carnage in bonds…
Source: Bloomberg
…and it could be much worse.
end
Record 49% Of Americans Say “High Prices Are Eroding Living Standards”; UMich
FRIDAY, OCT 13, 2023 – 10:05 AM
UMich inflation expectations soared in preliminary October data, with the year-ahead inflation expectations rose from 3.2% last month to 3.8% this month. The current reading is the highest since May 2023 and remains well above the 2.3-3.0% range seen in the two years prior to the pandemic. Long-run inflation expectations edged up from 2.8% last month to 3.0% this month…
Source: Bloomberg
All cohorts saw decreases in sentiment…
Meanwhile, the headline consumer sentiment gauge plunged to 63.0 (67.1 exp) from 68.1, led by a big drop in expectations (from 66.0 to 60.7)
Source: Bloomberg
UMich’s Joanne Hsu noted, “assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%.”
About 49% of consumers reported that high prices are eroding their living standards, up substantially from 39% last month and matching the all-time high last recorded in July 2022
The index of economic news heard by consumers worsened about 20% between last month and this month, reaching its lowest reading since May 2023. The most common negative topics mentioned were unemployment and higher prices, cited spontaneously by 20% and 16% of consumers, respectively.
But, but, but, Bidenomics?
III) USA ECONOMIC STORIES
USA cities on high alert amid Hamas’ day of rage threats
(zerohedge)
US Cities On High Alert Amid Hamas’ ‘Day of Rage’ Threats
FRIDAY, OCT 13, 2023 – 09:10 AM
Local and federal law enforcement agencies across the US are increasing patrols after a former Hamas leader called on supporters to unleash chaos in what is being called a ‘day of rage.’
In New York City, Morgan Stanley employees were allowed to remote work today as an “All Out For Palestine” rally in Times Square, near the bank’s headquarters, presents security risks, according to Bloomberg.
Google parent Alphabet Inc. employees in NYC were told they could stay home today, while a Jewish school in Queens instructed parents it would close today due to security risks.
NBC News said the New York Police Department ordered all officers to be on patrol today while providing enhanced security at cultural sites and houses of worship. Additional officers will be deployed to protest areas.
“New York City will do whatever it takes to keep our people safe,” New York Mayor Eric Adams (D) told reporters at a Thursday evening press conference.
Outside of Israel, NYC has the largest Jewish population, and already, Rep. Alexandria Ocasio-Cortez’s (D) Democratic Socialists of America have held pro-Palestinian rallies in Times Square.
AOC has made an effort, optically, of course, to denounce DSA’s explosive anti-Israel rhetoric: “(The rally) did not speak for the thousands of New Yorkers who are capable of rejecting both Hamas’ horrifying attacks against innocent civilians as well as the grave injustices and violence Palestinians face under occupation.”
From coast to coast, police departments said they plan to increase patrols after Khaled Mashal, the former leader and founding member of Hamas, called on Muslims earlier this week to unleash a ‘Day of Rage‘ on Friday.
“First: We declare next Friday, ‘The Friday of the Al-Aqsa Flood,’ as a day of general mobilization in our Arab and Islamic world and among the free people of the world. It is a day to rally support, offer aid, and participate actively. It is a day to expose the crimes of the occupation, isolate it, and foil all its aggressive schemes. It is a day to demonstrate our love for Palestine, Jerusalem, and Al-Aqsa. It is a day for sacrifice, heroism, and dedication, and to earn the honor of defending the first Qibla of Muslims, the third holiest mosque, and the ascension of the trusted Messenger.
“Second: We call upon our rebellious youth throughout the West Bank, in its cities, villages, and uprising camps, in the streets and neighborhoods of Jerusalem, and at the squares of the blessed Al-Aqsa Mosque, to rise up, join massive demonstrations, and shake the ground beneath the feet of the Zionist invaders and their settler gangs. Engage with their soldiers and cowardly army in every place, affirming the unity of destiny and the path towards Jerusalem and Al-Aqsa, liberating them from the defilement of the Zionist occupation.
“Third: Our people within the occupied territories of 1948, people of honor and courage, who have borne much to preserve their Palestinian-Arab identity. This day is your day to mobilize, assemble, and stand united in guarding the blessed Al-Aqsa Mosque. Preserve it, its Islamic heritage, its divine message, and prevent settler gangs from desecrating it. Thwart the fascist occupation’s plans to divide it, Judaize it, and build their alleged temple. Unite with your people in Gaza and the West Bank.
“Fourth: We call upon the masses of our Arab and Islamic nation and our Palestinian people in all places, including refugee camps and the diaspora, to march towards the borders of our beloved Palestine in massive gatherings. On this day, we declare our solidarity with Palestine, Jerusalem, and Al-Aqsa. For those geographically distant, let them gather at the nearest point leading to Jerusalem.
“Fifth: We call upon the free people of the world to mobilize in solidarity with our Palestinian people and in support of their just cause and legitimate rights to freedom, independence, return, and self-determination.
Axios said police in Washington, DC, have ramped up security at the US Capitol complex, public areas, places of worship, and some schools.
Rep. Marjorie Taylor Greene (R-Ga.) called on the House to adjourn on Friday due to a “global day of jihad by Hamas” that creates “heightened security around the Capitol, and a dozen protests planned in DC.”
On the West Coast, all officers of the Los Angeles Police Department have been told to report in uniform this morning. City officials told NBC News they have enough personnel to provide security at protests.
Meanwhile, the Anti-Defamation League has looked the other way this week while the Chicago chapter of the Black Lives Matter organization, members of the Democratic Socialists of America, and a number of radical progressive groups at Ivy League universities, such as Harvard, have incited outrage for appearing to publicly support Hamas militants.
Even progressive media outlets can’t ignore this any longer…
“The Chicago chapter of the Black Lives Matter organization has apologized for social media posts on Tuesday that incited outrage for appearing to publicly support Hamas militants.”
“It’s hard to wrap your mind around: The social justice warriors on college campuses around America have come out in support of terrorists who last weekend raped and murdered and beheaded innocent people (including children, women and the elderly) in Israel.”
Making matters worse, new internal US Customs and Border Protection data leaked to Fox News shows thousands of illegals from the Middle East have crossed into the US thanks to President Biden’s disastrous open southern border policies. There’s no telling how many of these illegals could be radicalized.
Because of this, at least one conservative lawmaker has informed Americans: “Must remain vigilant and prepared to defend ourselves and our families since Joe Biden has opened our southern border and we have no idea who has crossed into our country. The Second Amendment is the great safeguard of liberty & security. Never give up your 2A rights.”
What’s next?
Just take at look at France and the riots there.
Maybe look at Europe and other regions.
Beijing: Israeli diplomat stabbed and in serious condition
BREAKING: Israeli diplomat seriously wounded after being stabbed on the street in Beijing. Hamas called for Friday to be a “Day of Global Rage”
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This is something: more democrats sympathize with Palestinians than Israelis
(Watson/Summit News)
Poll From Earlier This Year Found More Democrats Sympathize With Palestinians Than With Israelis
A Gallup poll released in March of this year found that for the first time more Democrats in the U.S. sympathise with Palestinians than with Israelis, a stark finding in the midst of current events.
Gallup’s 2023 World Affairs Poll revealed that among Democrat voters 49% to just 38% said their sympathy lies more with the Palestinian side than with Israelis.
Democrats who said they are neutral also fell to 13%, a new low.
Overall, the poll found that 54% of Americans have more sympathy for Israelis, with 31% saying they sympathise more with Palestinians and 15% remaining neutral.
This goes someway to explaining the Pro-Palestine rallies that have been popping up in Democrat run areas:
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VICTOR DAVIS HANSON…a must read
Why progressives are upset that they will finally lose their Hamas death machine
One unexpected blowback from the medieval Hamas’s barbaric murdering of hundreds of Israeli civilians is the revelation of current global amorality.
More than 20 Harvard university identity politics groups pledged their support to the Hamas murderers—to the utter silence for days of Harvard President Claudine Gay.
Americans knew higher education practiced racist admission policies. It has long promoted racially segregated dorms and graduations. And de facto it has destroyed the First Amendment.
But the overt support for Hamas killers by the diversity, equity, and inclusion crowd on a lot of campuses exposes to Americans the real moral and intellectual rot in higher education.
Democratic Socialist members of the new woke Democrat Party openly expressed ecstatic support for Hamas’s bloodwork.
Their biggest fears were not dead fellow Americans or hostages, or some 1,000 butchered Jewish civilians. Instead they were fearful that righteous Israeli retaliation might destroy the Hamas death machine.
Palestinians for years fooled naïfs in Europe and the Obama and Biden administrations into sending billions of dollars into Gaza.
These monies were channeled to tunnel into Israel, to obtain a huge rocket arsenal, and to craft plans to wipe out Jews.
The Biden administration has blood on its hands.
As soon as Biden took power, he resumed massive subsidies to radical Palestinians, canceled by the prior Trump administration.
He ignored warnings from his own state Department that such fungible moneys would soon fuel Hamas terrorism.
His administration dropped sanctions against Iran, ensuring that Tehran would enjoy a multi-billion-dollar windfall to be distributed to Israel’s existential enemies—another fact well known to the Biden administration.
If the Biden administration had announced overtly that it was rabidly anti-Israel, it would be hard to imagine anything it could have done differently from its present nihilist behavior.
Biden and company quickly restarted the defunct Iran appeasement deal—a leftover from the anti-Israeli Obama administration. No surprise, they appointed radical pro-Iranian activist Robert Malley to head the negotiations.
Malley allegedly has leaked American classified documents to Iranian officials and is under investigation by the FBI. He did his best to place pro-Iranian, anti-American activists into the high echelons of the U.S. government.
Biden was intent on forcing South Korea to release to Iran $6 billion in sanctioned frozen money.
That expectation of cash ensured Iran would be reimbursed for its present terrorist arming spree.
Secretary of State Antony Blinken shamefully tweeted that Israel should settle for an immediate ceasefire. No wonder he soon withdrew his unhinged posting.
That idiocy would be the moral equivalent of an American ally in December1941 urging the U.S. to seek negotiations with imperial Japan after its surprise bombing of Pearl Harbor—to avoid a “cycle of violence.”
The Biden team has drained strategic arms stockpiles in Israel, designed to help the Jewish state in extremis.
It recklessly abandoned a multibillion-dollar arms trove in Kabul, some of which reportedly made its way from Taliban killers to the Hamas murderers.
Once the mass murdering started, the amoral clarity of our “allies” was stunning.
NATO partner Turkey openly sided with the killers. It —along with Blinken—called for a cease fire—at the moment the Hamas death squads had finished, and Israel was ready to hold Hamas to account.
Qatar, where the U.S. Central Command is based, proved little more than a Hamas front.
It offers sanctuary to the architects of Hamas killing. And Qatar ensures a safe financial pipeline to Hamas from Iran and the radical Arab world.
Some of the most vehement current supporters of the Hamas death squads were immigrants to America from the Middle East.
Oddly, they apparently had fled just such illiberal Middle East regimes to reach a tolerant, democratic, and secure United States.
Yet they now endorse the Hamas butchering of Jewish civilians. Its savagery is aimed at executing, raping, and beheading Jews, and then mutilating their bodies.
Hamas apparently hopes to shock the Israeli government into voluntarily committing suicide—in line with the ancient Hamas agenda to destroy the Jewish state.
In a strange way, this reign of death has become a touchstone, an acid test of sorts that has revealed the utter amorality of enemies abroad and quite dangerous people at home.
It is past time that Americans deal with the medieval world that was revealed this week rather than keep dreaming in the fantasy world of our government.
Americans need to stop illegal immigration and restore their southern border, while ceasing all immigration from unhinged, hostile nations.
The military must return to its deterrent role and fire its woke commissariat.
Our leaders must accept that in the last three years of the Biden administration, serial American appeasement abroad, disunity at home, and social chaos have encouraged an entire host of enemies —China, Russia, Iran, North Korea, Middle East illiberal regimes, and former friends like Turkey and Qatar.
And our enemies dream of doing to us what we just saw in Israel.
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USA// COVID//VACCINE/
end
SWAMP STORIES
House Republicans In Chaos After Scalise Drops Out Of Speaker’s Race; Jordan To Run Again
FRIDAY, OCT 13, 2023 – 10:35 AM
After the withdrawal of Majority Leader Steve Scalise (R-LA) from the GOP House Speaker’s race, the chamber has been paralyzed and is unable to push through legislation as a Nov. 17 government funding deadline looms.
Scalise on Thursday threw in the gavel, just one day after he won the party’s nomination.
Jim Jordan (R-OH), a founding member of the House Freedom Caucus, is the obvious alternative to Scalise. However, even as some rally behind Jordan, his path to the Speaker’s gavel is strewn with obstacles. With opposing voices within the party, including Republican Reps. Ann Wagner and Austin Scott, Jordan’s fight is shaping up to be just as fierce, if not more so, than Scalise’s.
“The problem is, I think there’s enough people that would see what has happened and transpired over the last 40 hours to not support him, that we’re gonna have the same problem with Jordan that we had with Scalise,” said Rep. Mike Garcia (R-CA). “I think it’s a math problem, frankly. So that’s the challenge we got.”
According to Garcia, the conference is “all thrust and no vector.”
On Friday, Jordan said he would run again.
Behind the scenes, whispers circulate about alternative contenders, including House Majority Whip Tom Emmer. Yet, in the wake of Scalise’s abrupt exit, Emmer remains reticent, The Hill reports.
Friday will mark the sixth time in five days that the conference has met as it struggles to find a viable replacement for former Speaker Kevin McCarthy (R-Calif.), who was ousted from the position last week after eight Republicans joined Democrats to boot him from the post. Members will consider proposals on how to change the internal conference rules for selecting a new Speaker.
Rep. Jodey Arrington (R-Texas) said the conference is expected to once again consider an amendment from Rep. Chip Roy (R-Texas) that would require 217 votes within the conference — just enough needed to assure a win on the House floor.
Change the rules?
According to Arrington, “People [are] saying, ‘Well you only have a little more than half the conference.’ It may go up to a higher threshold when people say, ‘Hey, you can get X percent, and we’ll feel better going in.’ So those are just things that have been kicked around.”
On Wednesday Republicans killed Roy’s move to require 217 votes, enraging the Texan, and fueling resistance to supporting Scalise on the House floor.
The continued inability to rally behind a leader is hardly a new storyline for the House GOP. The echo of past internal disputes serves as a reminder of the party’s chronic leadership struggles. As Rep. Dusty Johnson candidly put it, this current situation is but “a continuation of a pretty dysfunctional disease.”
The Jarring Reality
As Punchbowl News notes;
The House Republican Conference needs to face this jarring reality: The floor has been shut down for going on two weeks, the federal government runs out of money in a month, our vital ally Israel is involved in an existential war and, due to endless GOP infighting, there is no speaker.
…
Jordan told us walking out of the Thursday night conference meeting that he didn’t have any announcement yet and was simply thinking of Scalise. But shortly after that, Jordan began making calls.
“Tomorrow, we’re going to meet as a conference. I think we will come together behind a candidate and then we will move forward for the good of the country,” Jordan said, referring to the party meeting today. We wonder if Jordan will want to move quickly to an internal party vote for speaker and then onto the floor as soon as today or this weekend.
Before you tweet at us or fire off a nasty email, we’ll say it first — Jordan only got 99 votes in the House Republican Conference’s internal speaker election Wednesday. That’s a huge 118 votes shy of the 217 he’ll need to be speaker. It will be very difficult for Jordan to get there, even with support from Trump and conservative outside groups. And, after this week, there’s bad blood between the Jordan and Scalise camps that will make it even tougher.
According to the report, earlier in the week Jordan royally pissed off Scalise‘s camp – proposing that if Scalise couldn’t get to 217 votes, he would agree to back Jordan and nominate him for the post. Scalise reportedly saw this as a trap, as Jordan could simply convince some of his hard-core supporters to withhold support for Scalise.
Jordan spox Russell Dye had this to say about the exchange:
“This was an entirely cordial conversation and Mr. Scalise said he wanted to go to the floor right away, so Mr. Jordan offered to nominate him on the floor, and requested that if we had to go to the floor and Mr. Scalise didn’t have the votes, he nominate Mr. Jordan, the only other announced candidate for speaker. Mr. Scalise agreed to think about it and said he would call Mr. Jordan in forty-five minutes.”
In short, it’s gridlock in the House until further notice.
More charges against Menendez…
Menendez Charged With Conspiracy To Act As Foreign Agent Of Egypt
THURSDAY, OCT 12, 2023 – 06:40 PM
US Sen. Bob Menendez (D-NJ) was hit with a new charge Thursday that he conspired to act as an agent of the Egyptian government while he was head of the Senate’s Foreign Relations Committee.
In a superseding indictment filed in Manhattan federal court, Menendez was accused of violating the Foreign Agents Registration Act (FARA), which requires anyone acting as “an agent of a foreign principal” to register with the US government. Menendez was prohibited from doing so either way as a member of Congress.
The new charge comes weeks after Menendez and his wife Nadine were indicted for allegedly accepting bribes, as well as having “promised to take and took a series of acts on behalf of Egypt, including on behalf of Egyptian military and intelligence officials.”
According to the indictment, Menendez and his wife, along with business associate Wael Hana, met with an Egyptian intelligence official in Menendez’s Senate office in Washington DC, during which they discussed a US citizen who was injured in a 2015 airstrike by the Egyptian military – an incident which some members of Congress cited as a reason to withhold certain military aid to Egypt.
Shortly after the meeting, the Egyptian official texted Hana that if Menendez took care of the matter, “he will sit very comfortably.”
Hana texted back, “Orders, consider it done.”
In an email, Hana’s attorney, Lawrence Lustberg, said the “new allegation that Wael Hana was part of a plot concocted over dinner to enlist Senator Menendez as an agent of the Egyptian Government is as absurd as it is false.”
“As with the other charges in this indictment, Mr. Hana will vigorously defend against this new and baseless allegation,” he wrote.
Menendez and his wife have pleaded not guilty to the charges lodged against them last month. Hana pleaded not guilty last month to charges including conspiracy to commit bribery.
After Hana’s company was granted a lucrative monopoly by the Egyptian government to certify that all meat imported into that country met religious requirements, prosecutors said, Menendez urged U.S. agriculture officials to stop questioning the deal. –AP
Menendez was also accused of accepting “cash, gold, payments toward a home mortgage, compensation for a low-or-no-show job, a luxury vehicle, and other things of value” as part of a “corrupt relationship” with businessman Fred Daibes.
Daibes, a developer and former bank chairman, allegedly gave Menendez gold bars valued at approximately $400,000, in exchange for assistance in a case in which he faced federal bank charges.
Instead of facing over 10 years in prison, Daibes, a felon, only ended up serving probation after striking an agreement with the US Attorney’s Office in New Jersey.
“For purposes of the Federal Extortion Act, it makes no difference if the senator took an official act so long as he accepted the money and there was knowledge the money was in exchange for that official influence, even if he never carried out what he had promised he would do,” according to NBC Legal Analyst Danny Cevallos.
Menendez disclosed that his family had accepted gold bars in 2020. Daibes encountered bank fraud charges that could have netted him up to a decade in prison for lying about a nearly $2 million loan from Mariner’s Bank, where Daibes served as chairman.
Last year, however, New Jersey’s U.S. Attorney’s Office agreed to let Daibes plead guilty to one count and serve probation. They said Daibes had repaid the loan. -Fox News
According to the report, Menendez, 69, is ‘close’ with US Attorney Philip Sellinger – having supported him for the position, while Sellinger had previously raised funds for Menendez’s campaign.
Menendez also allegedly pushed prosecutors to grant leniency to friends of his associates.
One businessman, Jose Uribe, bought Nadine Menendez a $60,000 Mercedes Benz after she killed a man in a 2018 crash.
You know it’s bad when…
THE KING REPORT
The King Report October 13, 2023 Issue 7096
Independent View of the News
US September CPI increased 0.4% m/m and 3.7% y/y; 0.3% m/m & 3.6% y/y were consensus. Core CPI were the expected 0.3% m/m and 4.1% y/y. Energy 1.5% m/m, Energy Commodities 2.3% m/m, Gasoline 2.1% m/m, Services 0.6% m/m, Housing 0.6% m/m, Shelter 0.6% m/m; Used Cars & Trucks -2.5% m/m https://www.bls.gov/news.release/pdf/cpi.pdf
Atlanta Fed: The Atlanta Fed’s sticky-price consumer price index (CPI)—a weighted basket of items that change price relatively slowly—increased 5.5 percent (on an annualized basis) in September, following a 4.7 percent increase in August. On a year-over-year basis, the series is up 5.1 percent. On a core basis (excluding food and energy), the sticky-price index increased 5.5 percent (annualized) in September, and its 12-month percent change was 5.0 percent… https://www.atlantafed.org/research/inflationproject/stickyprice.aspx
@zerohedge: Initial Claims vs state WARN notices. Guess which one you can’t seasonally adjust for political purposes?https://t.co/LRSdv2pcbh
Massive Layoffs in Illinois Now Hits Tens of Thousands Under the Worker Adjustment and Retraining Notification Act, an employer with more than 100 full-time workers must provide a 60-day notice before laying off 50 or more people at a single site…. So far, in 2023, there have been 13,954 jobs cut in Illinois. This is already double the number of job losses that occurred in 2022. https://franknez.com/massive-layoffs-in-illinois-now-hits-tens-of-thousands/
Bonds declined sharply on the CPI Report. Fangs rallied on pattern buying for Q3 results; but other major equity indices declined.
ESZs rallied from the Nikkei opening until they hit a daily high of 4430.50 at 8:10 ET. They sank after the US September CPI Report, with the tumble commencing at 8:28 ET, 2 minutes before the release. After hitting a daily low of 4393.25 at 10:02 ET, traders aggressively bought for the seasonal rally for earnings results. As always, Fangs led the rally for quarterly earnings reporting season.
ESZs intractably rallied until 12:19 ET. After 32-minute rollover, ESZs tumbled because USZs sank on a poor 30-year Treasury auction. Mr. Bond did not buy Street sophistry that ‘CPI ex-everything is zero.’
ESZs hit a bottom of 4355.50 near the 14:15 ET VIX Fix. The usual suspects then manipulated ESZs higher because most traders got long for the expected big rally for earnings season. ESZs hit 4386.50 at 15:39 ET and then eased lower into the close. USZs were -1 28/32 at the NYSE close.
30-year auction ($20B) results: 4.8% (3.7bps > exp), bid to cover of 2.35, 2.46 last reopening, Indirect Bidders (customers) 65.1%, last issue 70.1%; Direct Bidders 16.7%, 19% average of last 6 reopenings.
Airline Are Racing to Hunt Down the Fake Parts in Their Fleets – BBG A little-known distributor in London sold thousands of engine components with bogus documentation. Carriers and repair shops are frantically hunting them down… all are linked to the same parts distributor in London: AOG Technics Ltd., a little-known outfit started eight years ago by… Jose Alejandro Zamora Yrala… hoodwinked the biggest names in aviation, selling thousands of jet-engine parts with forged airworthiness records, according to regulators and industry executives… A rash of bogus aircraft parts sparked a furor in the 1990s…Mary Schiavo led investigations into fake parts that helped secure about 120 criminal convictions between 1990 and 1996…
Positive aspects of previous session. Stock rallied early on buying for Q3 earnings results, led by Fangs, of course Gasoline declined sharply – is someone managing energy markets?
Negative aspects of previous session Bonds declined sharply early; then tumbled after a poor Treasury Auction of 30-year bonds ESZs and stocks tumbled after the Mr. Bond sank in the afternoon
Ambiguous aspects of previous session Will the US ‘manage’ markets, particularly energy, due to the Middle East War?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4353.63 Previous session S&P 500 Index High/Low: 4385.85; 4325.43
ICE admits record 5.7 million migrants in US — Biden wants to provide ‘medical services, housing’ to all (Why does Team Biden keep poking Mr. Bond?) https://t.co/F9IFibHRse
Israel Bombs Damascus & Aleppo Airports Minutes before Iran’s Foreign Minister Due to Arrivehttps://t.co/LPHovLSk0k
Fox’s @LucasFoxNews: Israel’s Navy SEALs (Shayetet 13) killed 60 Hamas terrorists, arrested 26 others, and rescued 250 hostages during operations: IDF
Tempers flare among House Dems over the Israel war The dustup shined a bright light on the longtime fracture within the Democratic Party over the Israeli-Palestinian conflict… “Congressman Gottheimer is furious and deeply disappointed with Members of Congress who have yet to condemn Hamas terrorists for brutally murdering, raping, burning alive, kidnapping, torturing, and beheading innocent babies, children, women, men, and grandparents — including Americans,” said D’Aloia, the Gottheimer spokesperson… https://www.politico.com/news/2023/10/11/house-dems-israel-hamas-war-00121109
‘Squad’ Democrats get pass from party leadership on ‘disgraceful’ response to Hamas child executionshttps://t.co/eZCuHOnVGb
@Justine_Brooke: 12 North Carolina Democrats (NC Assembly) stormed out when they were asked to denounce the rape of Jewish women and beheading of babies. Remember their names: Rep. John Autry, Rep. Amber Baker, Rep. Gloristine Brown, Rep. Kanika Brown, Rep. Maria Cervania, Rep. Terence Everitt, Rep. Pricey Harrison, Rep. Nasif Majeed, Rep. Marcia Morey, Rep. Renee Price, Rep. Diamond Staton-Williams, Rep. Julie von Haefen
Hundreds of US families stranded in war-torn Israel plead with State Dept for safe return: ‘We’re scared’ – “Not a word about their ‘evacuation plan’, that at this point looks like it could take a week or so. They should be ashamed,” the worried father said on Monday… “The U.S. government has not provided any means of support for the Americans that are stuck here,” she told Fox… https://www.foxnews.com/media/hundreds-us-families-stranded-war-torn-israel-plead-state-dept-safe-return-were-scared
@GovRonDeSantis: Today I signed an executive order authorizing rescue operations in Israel to bring Floridians home and transport supplies to our allies. We will not leave our residents behind. To the many Floridians who are stuck in Israel, trying to get home — help is on the way.
Report: Hamas Began Planning Attack on Israel Two Years Ago — After Afghanistanhttps://t.co/guAsODFsTz
@michaelpsenger: Senior Hamas official on Russia Today: “We made them think that Hamas was busy with governing Gaza, and that it wanted to focus on the 2.5 million Palestinians there… all the while, under the table, Hamas was preparing for this big attack.”https://t.co/L1v5lVkUFG
@RonDeSantis: For whatever reason, the Biden Administration wants to bend over backwards to not hold Iran accountable. They have had this delusion that they can have a rapprochement with Iran. That will not happen. https://twitter.com/rondesantis/status/1712268224006369722
US Secretary of Defense Kirby confirmed 27 Americans dead, 14 missing after Hamas attacks on Israel.
White House: Ukraine support “near to the end of the rope” Kirby: “On the Ukraine funding, we’re coming near to the end of the rope. I mean, today we announced $200M. And we’ll keep that aid going as long as we can, but it’s not going to be indefinite.” https://twitter.com/balajis/status/1712280684155584895?s=02
Though nominated for Speaker by the GOP, Steve Scalise does not have enough GOP votes to become Speaker. GOP holdouts complain that Scalise, McCarthy’s top lieutenant, is no different that McCarthy in that he is beholden to the donor class, not GOP voters. Scalise just dropped out of the Speaker race.
The Fed’s Reverse Repo Facility dropped to $1.16T. It peaked at $2.553T at yearend. Where did the excess funds go? To buy Treasuries probably! Potential funds to buy Treasuries are contracting. https://fred.stlouisfed.org/series/RRPONTSYD
@ChuckCallesto: BREAKING REPORT: Iranian Foreign Minister, Hossein Amir-Abdollahian THREATENS ISRAEL with coordinated response from multiple nations… “The continuation of Israeli attacks against the Palestinians will be MET WITH A RESPONSE from the rest of the axes.” “Today, the continuation of war crimes by (Israeli Prime Minister Benjamin) Netanyahu and Zionists against the civilians in Gaza, besieging, cutting off water and electricity, and denying entry of medicine and food, has created conditions where the Zionists are seeking a genocide of all people in Gaza.”
Today – Barring horrid news, traders will play for the Friday Rally and the earnings season rally. Will Mr. Bond behave or will he thwart upward seasonal bias for equities? The first batch of impact Q3 results (big banks) will appear today. ESZs are +1.75 and USZs are +10/32 at 20:40 ET.
Expected economic data: Sept Import Price Index 0.5% m/m & -1.4% y/y, Export Price Index 0.5% m/m & -4.0% y/y; Oct UM Sentiment 67.1, Current Conditions 70.3, Expectations 65.7, 1-yr Inflation 3.2%, 5-yr Inflation 2.9%; Phil Fed Pres Harker on Economic Outlook 9 ET
S&P 500 Index 50-day MA: 4411; 100-day MA: 4399; 150-day MA: 4289; 200-day MA: 4216 DJIA 50-day MA: 34,372; 100-day MA: 34,280; 150-day MA: 33,918; 200-day MA: 33,815 (Green is positive slope; Red is negative slope)
S&P 500 Index – Trender trading model and MACD for key time frames Monthly: Trender and MACD are positive – a close below 3828.58 triggers a sell signal Weekly: Trender and MACD are negative – a close above 4476.15 triggers a buy signal Daily: Trender and MACD are positive – a close below 4262.88 triggers a sell signal Hourly: Trender and MACD are negative – a close above 4382.94 triggers a sell signal
Ex-DJT aide @StephenM: Pro tip: design your nation’s immigration policy so you don’t have to worry about a global day of jihad.
@CollinRugg: A Jewish school in Queens New York is closing on Friday after former Hamas chief Khaled Meshaal called for a global day of jihad. In response to Palestinian aggression, *all* New York City Police officers have been told to report for duty in uniform on Friday. The NYPD released the following message: “All uniformed members of the service are to perform duty in the uniform of the day – effective immediately and until further notice, all uniformed members of the service, in every rank, will perform duty in the uniform of the day and be prepared for deployment.” Gov. Hochul is also commenting on potential violence, calling it a “personal choice” if parents want to remove their kids from school on Friday…
Henry Kissinger on Hamas attacks fallout: Germany let in too many foreigners As a minority in Berlin cheer Hamas’ attacks on Israel, former top US diplomat says mass immigration was a ‘grave mistake.’ “It was a grave mistake to let in so many people of totally different cultural and religion and concepts because it creates a group inside each countrythat does that.” “The Middle East conflict has the danger of escalating and bringing in other Arab countries under the pressure of their public opinion,” Kissinger warned… The real goal of Hamas and its supporters “can only be to mobilize the Arab world against Israel and to get off the track of peaceful negotiations,” Kissinger said… More broadly, Kissinger said, Russia’s ongoing aggression in Ukraine coupled with Hamas’ attack on Israel represent a “fundamental attack on the international system.”https://www.politico.eu/article/henry-kissinger-germany-let-in-way-too-many-foreigners/
@emilykschrader: Paris erupting in chaos as Palestinian protesters riot and multiple Jews have been assaulted in attacks in the city. This photo from this now: This follows calls from Hamas terrorists to carry out “jihad” around the world and a French ban on pro-Palestinian protests.https://t.co/XK9u3EYihK
@ElanderNews: U.K. – Jewish schools to close because British authorities can’t keep children safe! This is Britain, a free and tolerant country … no more. https://t.co/ax1yDYiYQZ
@EndWokeness: Gaza also shares a border with Egypt. To keep Gazans out,Egypt built massive parallel walls and a super-strength steel underground wall. One wall is made of concrete, goes 20 feet high and underground. The other is stone. In addition to the above/underground walls, the area… https://t.co/d66oVOLYPV
Arab nations do not want to accept Palestinian refugees, WHY??? NIMBY?
US, Qatar Agree to Stop Iran from Tapping $6 Billion Fund – WaPo 11:56 ET (Is it conceivable that Iran did NOT withdraw funds over the several weeks?!?)
Iran’s funds in Qatar are fully accessible –Nournews (Iran contradicts Team Biden) Iran’s Nournews said on Thursday that Tehran had full access to its funds that were transferred to Qatari banks last month under a prisoner swap deal with the U.S., despite some reports that Washington and Doha have agreed to stop Iran from tapping the $6 billion. “There has been no change in Iran’s access to its foreign funds in Qatari banks, and the existing agreement remains in effect,” said the news website, affiliated with Iran’s top security body. https://www.reuters.com/world/middle-east/irans-funds-qatar-are-fully-accessible-nournews-2023-10-12/
@RNCResearch: “Yes or no — if Iran wanted to access [Biden’s $6 billion gift] today, could they?” Top Biden spokesman John Kirby: “I’m not gonna speculate one way or another here” GOP Sen. @HawleyMO: That means Yes.
GOP Rep. @michaelgwaltz: All the Iran Deal architects – @BenRhodes, @WendyRSherman, @ColinKahl – awfully quiet on Iran’s complicity. They sold Americans that Iran could behave. Rather, the billions of dollars from the Iran deal fueled Hamas & Hezbollah terrorists.
Secretary of State Antony Blinken Blames Trump for Biden’s $6 Billion Gift to Iran (Not a parody) He said the account set up for Iran was set up by the Trump Administration. This is a lie. The account was set up under Barack Obama… It was set up by Section 1245 of the FY2012 NDAA that mandated its creation and set the parameters of its usage. Obama is the one who signed that bill into law… https://www.thegatewaypundit.com/2023/10/secretary-state-antony-blinken-blames-trump-bidens-6/
Israel security chiefs did not put Gaza border on high alert despite Hamas activity intel –Axios Israeli intelligence the night before the Hamas attack picked up signs of irregular activity among Hamas operatives in Gaza but top IDF and Shin Bet leaders decided not to put military forces on the borders of the enclave on high alert, three Israeli officials told Axios… https://www.axios.com/2021/05/17/israel-gaza-ap-building-hamas-blinken
SPLC Won’t Say Whether It Plans to Designate Left-Wing Groups Supporting Slaughter in Israel as Hate Groupshttps://t.co/x3mNgi2R73
@bonchieredstate: Gaza doesn’t have water. Also, Hamas terrorists dug up all the water pipes to turn them into rockets. @nexta_tv: Hamas militants showed how they make rockets out of water pipes. https://twitter.com/nexta_tv/status/1712441643280793903
@RNCResearch: Dem Sen. John Fetterman, completely unironically: “America is not sending their best and brightest, you know, to Washington, D.C.”https://t.co/9ExRRSBs3X
Trump Criticizes Netanyahu and Israeli Intelligence in Florida Speech The attacks were a major focus of Mr. Trump’s remarks to a crowd of superfans in his home state, which has a significant number of Jewish voters. Mr. Trump related a story he said he had never told about Israel’s role in the killing of Iran’s top security and intelligence commander, Maj. Gen. Qassim Suleimani, by an American drone strike in 2020. Mr. Trump said that Israel had been working with the United States on a plan for the attack, but that he had received a call shortly beforehand to let him know that Israel would not take part. The United States proceeded anyway… Mr. Trump has been critical of Mr. Netanyahu before, telling the Axios reporter Barak Ravid that he was particularly incensed after the prime minister congratulated Mr. Biden for his 2020 election victory. “But I’ll never forget,” Mr. Trump said. “I’ll never forget that Bibi Netanyahu let us down. That was a very terrible thing.”… https://www.nytimes.com/2023/10/11/us/politics/trump-netanyahu-israel.html
Trump slammed Netanyahu (for “letting us down”, “Bibi tried to credit for it. That didn’t make me feel too good!” – a US strike under DJT) and called the Israeli Defense Minister a ‘jerk’ for voicing concern over a Hezbollah attack from the north. But the Cult of Trump continues to make excuses for him. https://twitter.com/RonDeSantis/status/1712292173272457399
@RonDeSantis: Terrorists have murdered at least 1,200 Israelis and 22 Americans and are holding more hostage, so it is absurd that anyone, much less someone running for President, would choose now to attack our friend and ally, Israel, much less praise Hezbollah terrorists as “very smart.” As President, I will stand with Israel and treat terrorists like the scum that they are.
@aaronlarnavarro: DeSantis, after filing for NH primary, hits Trump for comments about Israel/Netanyahu. “You may have a personal vendetta or beef with him. But is that really the time to be out there doing that, and to be attacking the Israeli Defense Minister? I don’t think so.”https://t.co/CtBtRmIgqF
Reuters: Israel and the White House on Thursday condemned remarks by Donald Trump in which he praised the Iran-backed militant group Hezbollah and criticized Israeli Prime Minister Benjamin Netanyahu over an attack by Palestinian Hamas militants.
Hamas love exposes the moral rot at the center of Harvard and higher education in America Progressive liberals have now given birth to a generation of demonic ideologues who excuse sheer evil…The Hamas Covenant includes the following language, from the hadith (sayings attributed to Mohammed): “The Day of Judgment will not come about until Moslems fight Jews and kill them. Then, the Jews will hide behind rocks and trees, and the rocks and trees will cry out: ‘O Moslem, there is a Jew hiding behind me, come and kill him.’”… https://nypost.com/2023/10/11/hamas-love-exposes-the-moral-rot-at-the-center-of-harvard-and-higher-education-in-america/
For decades, many people claimed that they could not understand how or why the Holocaust could have occurred. They are now getting those answers.
@TheBabylonBee: Harvard Student Leaves Lecture on Microaggressions to Attend ‘Kill the Jews’ Rally https://t.co/uHdv4mCFk1
By Greg Hunter’s USAWatchdog.com (Special presentation of Weekly News Wrap-Up WNW 603 for 10/13/23)
Biblical cycle timing expert and geopolitical/financial analyst Bo Polny predicted last month on USAWatchdog.com that “chaos was coming in early October.” The Hamas/Israel war that started on October 6th proved him right. The situation seems to be intensifying and spinning out of control by the hour. Israel has called up 300,000 troops in the war with Hamas terrorists that murdered, wounded or kidnapped thousands of Israelis in a surprise attack last Friday. Hamas is calling for a “global Jihad, invasion of Israel and to attack Jews worldwide on Oct. 13.” Even though this is already a bloody conflict that will, no doubt, get much worse, Polny predicts this is not going to be WWIII, at least not just yet. Polny explains, “If you truly understand the times we are living in today, do not fear World War III. It is not the time for it. That time point is Revelation 16, verse 12. It says the Euphrates River dries up, and armies prepare for Armageddon. I repeat, we are not at Revelation 16.”
Polny is quick to point out that just because this is not Armageddon, it does not mean there will not be blood and financial meltdowns. Polny thinks gold and silver go way up in price from here, and a lot of other things go way down in value, including the U.S. dollar. Polny explains, “God is going to intervene and destroy Mystery Babylon. How does he do that? Destroy the dollar. You are going to see the U.S. dollar lose its status as the world’s reserve currency. It’s going to collapse starting this year. It has topped right now, and it will start collapsing in November. There will be a huge collapse in the first quarter of 2024. That’s going to cause the bond markets to collapse. That’s going to cause the banking institutions to collapse. That’s going to cause the financial system to collapse. That’s going to cause real estate to take a 50% to 90% haircut. Everything that Babylon has built gets destroyed. We are going to get fulfillment. What is the third seal of Revelation? It is a financial rebalancing. The wealth of the sinner, Babylon, is stored up for the righteous.”
Polny says you can sum up what is coming as “blessings and vindications.” Polny still thinks President Donald Trump will be back in office sooner than later.
There is much more in the 1-hour and 2-minute special presentation.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Biblical cycle expert and financial analyst Bo Polny, founder of Gold2020Forecast.com, for a special presentation of the Weekly News Wrap-Up for 10.13.23.
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