OCT 31/UNUSUAL RAID POST LBMA/OTC LONDON OPTION EXPIRY (USUALLY ENDS AT 9- 11 AM) GOLD CLOSED DOWN $10.30 TO $1985.50//SILVER WAS DOWN 41 CENTS TO $22.84//PLATINUM WAS UP $2.50 TO $9.36.35 WHILE PALLADIUM WAS DOWN $3.00 TO $1124.90//GOLD COMMENTARY TODAY FROM SCHIFF GOLD//BANK OF JAPAN SENDS CONFUSING SIGNALS ON ITS YIELD CURVE: MARKET DOES NOT BUY IT AS THE YIELD RISES AND THE YEN COLLAPSES//EUROPEAN GDP CONTRACTS//UPDATES ON THE ISRAELI-HAMAS WAR; TWO ISRAELI SOLDIERS KILLED BY CONFRONTING HAMAS//ISRAEL NOW CONTROLS TWO MAJOR ROADS CONNECTING NORTH AND SOUTH AND EAST//WEST//COVID UPDATES//VACCINE INJURY UPDATES//DR PAUL ALEXANDER//SLAY NEWS/NEWS ADDICTS/EVOLF NEWS//EXCELLENT INTERVIEW BY TUCKER CARLSON WITH NIGEL FARAGE OF ENGLAND//SWAMP STORIES FOR YOU TONIGHT//
118 C MACQUARIE FUT 54 159 C MAREX CAPITAL M 1 323 C HSBC 960 363 H WELLS FARGO SEC 363 435 H SCOTIA CAPITAL 104 624 H BOFA SECURITIES 674 657 C MORGAN STANLEY 20 661 C JP MORGAN 200 732 H RBC CAP MARKETS 162 737 C ADVANTAGE 1 73 905 C ADM 10
TOTAL: 1,311 1,311 MONTH TO DATE: 1,311
JPMorgan stopped 200/1311 contracts.
FOR NOV.:
GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 1311 NOTICES FOR 131,100 OZ or 4.0777 TONNES
total notices so far: 1311 contracts for 113,100 oz (4,0777 tonnes)
FOR NOV:
SILVER NOTICES:211 NOTICE(S) FILED FOR 1,055 ,000 OZ/
total number of notices filed so far this month : 211 for 1,055,000 oz
XXXXXXXXXXXXXXXXXXXXXXXX
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES
GLD
WITH GOLD DOWN $10.30//
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.31 TONNES OF GOLD FROM THE GLD/
INVENTORY RESTS AT 859.49 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 41 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WIHTDRAWAL OF 917,000 OZ FROM THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 442.833 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY HUMONGOUS SIZED 1888CONTRACTS TO 127,227 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR STRONG $0.46 GAIN IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD SOME SPEC SHORT COVERING EPISODE IN MONDAY’S COMEX TRADING.. TAS ISSUANCE WAS A HUMONGOUS SIZED 1139 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 MONDAY NIGHT: 1139 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 UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.46). AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A MEGA HUMONGOUS SIZED GAIN OF 4,589 OI CONTRACTS ON OUR TWO EXCHANGES AS THE SPEC SHORTS TRIED AGAIN DESPERATELY TO COVER THEIR SHORTFALLS WITH LITTLE SUCCESS.
WE MUST HAVE HAD:
A HUGE 2360 ISSUANCE OF EXCHANGE FOR PHYSICALS( 2360 CONTRACTS FOR 11.800 MILLION OZ OZ) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.430 MILLION OZ (FIRST DAY NOTICE) ///HUGE SIZED COMEX OI GAIN/ HUMONGOUS SIZED EFP ISSUANCE/VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1139CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 347 CONTRACTS (the cme will no longer provide preliminary no to be except through a paywall)
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 22 days, total 21,851 contracts: OR 109.255 MILLION OZ (977 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 109.255 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: 109.255 MILLION OZ (STRONG MONTH)
NOV:
RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1888 CONTRACTS WITH OUR STRONG GAIN IN PRICE OF $0.46 IN SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS 2360 EFP ISSUANCE CONTRACTS: 2360 ISSUED FOR DEC 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 1.430 MILLION OZ// /// WE HAVE A HUMONGOUS SIZED GAIN OF 4248 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE HUMONGOUS SIZED 1139 CONTRACTS//ZERO FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION. THE NEW TAS ISSUANCE MONDAY NIGHT A HUGE (1139) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .
WE HAD 211 NOTICE(S) FILED TODAY FOR 1,055,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 6799 CONTRACTS TO 479789 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 755 CONTRACTS
WE HAD A STRONG SIZED INCREASE IN COMEX OI ( 6799 CONTRACTS) WITH OUR $7.80 GAIN IN PRICE//MONDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR NOV. AT 4.3514 TONNES ON FIRST DAY NOTICE + /A HUGE (AND CRIMINAL) ISSUANCE OF 2372 T.A.S. CONTRACTS /// ALL OF..THIS HAPPENED WITH OUR$7.80 GAIN IN PRICEWITH RESPECT TO MONDAY’S TRADING.WE HAD A VERY STRONG SIZED GAIN OF 8626 OI CONTRACTS (26.83 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1827CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 479,789
IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8626 CONTRACTS WITH 6799 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1827 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 8626CONTRACTS OR26,83TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A HUGE 2372 CONTRACTS)
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1827 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (6799) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 8,626 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR NOV. AT 4.3514 TONNES /// 3) ZERO LONG LIQUIDATION AND LITTLE TAS LIQUIDATION BUT SOME ATTEMPTED SPEC SHORT COVERINGS DURING THE COMEX SESSION (AND FAILED) //4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: HUGE T.A.S. ISSUANCE: 2372 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: 83,414 CONTRACTS OR 8,341,400 OZ OR 259.45 TONNES IN 22 TRADING DAY(S) AND THUS AVERAGING: 3791 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 22TRADING DAY(S) IN TONNES 259.45TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 259.45/3550 x 100% TONNES 7,32% 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. 259.45 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 HUMONGOUS SIZED 1888 CONTRACTS OI TO 127,227 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 HUGE 2360 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 2360and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 2360 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 1888 CONTRACTS AND ADD TO THE 2360 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 4248 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 21.240 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//
TUESDAY MORNING//MONDAY NIGHT
SHANGHAI CLOSED DOWN 2.78 PTS OR 0.09% //Hang Seng CLOSED DOWN 293.88 PTS OR 1.69% /The Nikkei CLOSED UP 161.89 PTS OR 0.53% //Australia’s all ordinaries CLOSED UP 0.10 % /Chinese yuan (ONSHORE) closed DOWN AT 7.3155 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.3318 /Oil DOWN TO 82.88 dollars per barrel for WTI and BRENT UP AT 87.01/ Stocks in Europe OPENED ALL GREEN// 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 ROSE BY A STRONG SIZED 6799CONTRACTS TO 479,789 WITH OUR STRONG GAIN IN PRICE OF $7.80 ON MONDAY. OUR SHORT SPECULATORS COVERED LITTLE OF THEIR POSITIONS DURING COMEX TRADING.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF NOV..… 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 1827 EFP CONTRACTS WERE ISSUED: : DEC 1827 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 1827 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED TOTAL OF 8626 CONTRACTS IN THAT 1827LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 6799 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR STRONG GAIN IN PRICE OF $7.80//MONDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A HUGE 2371 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: NOV (4.3514 + (NON ACTIVE MONTH)
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY: 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 4.3514 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $7.80) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A VERY STRONG GAIN OF 9,381TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A LITTLE T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING. THE T.A.S. ISSUED ON MONDAY NIGHT WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. IT DID HAVE SOME SPECULATOR SHORT COVERING WITH THE MASSIVE PRICE INCREASE.
WE HAVE GAINED A TOTAL OI OF 26.53 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT. (4.3514 TONNES) ON FIRST DAY NOTICE// ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $7.80. FOR THE PAST SEVERAL 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. SPECULATORS YESTERDAY ADDED TO THEIR HUGE SHORTS.
WE HAD REMOVED —755 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST
NET GAIN ON THE TWO EXCHANGES 8626 CONTRACTS OR 862600 OZ OR 26.83 TONNES.
Total monthly oz gold served (contracts) so far this month
1311 notices 131,100 OZ 4.077TONNES
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
1 dealer deposit:
i)Into ASAHI 64,007.72
total dealer deposits: 64,007.72 oz
customer deposits: 0
total customer deposits: nil oz
we had 1 customer withdrawals
i) Out of Brinks 289.357 oz (9 kilobars)
total withdrawals nil oz
Adjustments; 2 customer to dealer
i) ASAHI 31,974.376 oz
ii) Brinks 16,051.536
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR OCT.
For the front month of NOVEMBER we have an oi of 1399 contracts having LOST 27 contracts. Thus by definition, the initial amount of gold standing
in this non active delivery month of November is as follows:
1399 notices x 100 oz per notice -= 139,900 oz or 4.3514 tonnes
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.
December gained 5150 contracts up to 376,486 contracts.
We had 1311 contracts filed for today representing 131100 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 1311 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 200 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 NOV. /2023. contract month, we take the total number of notices filed so far for the month (1311 x 100 oz ), to which we add the difference between the open interest for the front month of NOV. (1399 CONTRACTS) minus the number of notices served upon today 1311 x 100 oz per contract equals 139,900 OZ OR 4.3514 TONNES WHICH EQUALS the number of TONNES standing in this NON active month of NOV, i.e. 4.2514 tonnes
thus the INITIAL standings for gold for the NOV.contract month: No of notices filed so far (1311) x 100 oz + (1399) {OI for the front month} minus the number of notices served upon today (1311) x 100 oz) which equals 139,900oz standing OR 4.3514 TONNES
TOTAL COMEX GOLD STANDING: 4.3514 TONNES WHICH IS GOOD FOR A NON ACTIVE BUT GENERALLY WEAK DELIVERY MONTH. (NOV). Somebody is after a considerable amount of gold from the comex.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 19,916,472,904 OZ
TOTAL REGISTERED GOLD 10,066,288.935 (313.10 tonnes)..
TOTAL OF ALL ELIGIBLE GOLD: 9,850,183.969 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 8,178,033(REG GOLD- PLEDGED GOLD) 254.37 tonnes//
END
SILVER/COMEX
OCT 31
//2023// THE NOV 2023 SILVER CONTRACT
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
1,765,165.845 oz
Brinks CNT HSBC
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
580,922.700 OZ ASAHI
No of oz served today (contracts)
211 CONTRACT(S) (1055,000 OZ)
No of oz to be served (notices)
75 contracts (375,000 oz)
Total monthly oz silver served (contracts)
211 Contracts (1055,000 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 1 deposits customer account:
i) Into ASAHI 580,922.700 oz
total customer deposit: 580,922.700 oz
JPMorgan has a total silver weight: 134.441 million oz/267.930 million or 50.10%
Comex withdrawals 3
i) Out of Brinks 618,952.950 oz
ii) Out of CNT 1,138,184.630 oz
iii) HSBC 8028.265 oz
total: 1,765,165.845 oz
adjustments: 1 ASAHI//customer to dealer:
585,829.200 o
TOTAL REGISTERED SILVER: 38.229 MILLION OZ//.TOTAL REG + ELIGIBLE. 267.930 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:
silver open interest data:
FRONT MONTH OF NOV /2023 OI: 286 CONTRACTS HAVING LOST 157 CONTRACT(S).
THUS BY DEFINITION, THE INITIAL AMOUNT OF SILVER STANDING FOR THIS NON ACTIVE DELIVERY MONTH OF NOVEMBER
IS AS FOLLOWS:
286 NOTICES X 5,000 OZ PER NOTICE = 1,430,000 OZ
DEC. GAINED 925 CONTRACTS TO STAND AT 94,448 .
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 211 for 1,055,000 oz
Comex volumes// est. volume today 54,907//poor
Comex volume: confirmed yesterday 65,961 fair
To calculate the number of silver ounces that will stand for delivery in NOV. we take the total number of notices filed for the month so far at 211 x 5,000 oz = 1,055,000 oz
to which we add the difference between the open interest for the front month of NOV (286) and the number of notices served upon today 211 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the NOV/2023 contract month: 211 (notices served so far) x 5000 oz + OI for the front month of NOV (286) – number of notices served upon today (211 )x 500 oz of silver standing for the NOV contract month equates to 1.430 million oz +
There are 38.229 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//
BOTH GLD AND SLV ARE MASSIVE FRAUDS!
OCT 31/WITH GOLD DOWN $10.30 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.31 TONNES OF GOLD FROM THE GLD// // // INVENTORY RESTS AT 859.49 TONNES
OCT 30/WITH GOLD UP $7.80 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD // // INVENTORY RESTS AT 861.80 TONNES
OCT 27/WITH GOLD UP $1.20 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD // // INVENTORY RESTS AT 861.80 TONNES
OCT 26/WITH GOLD UP $2.90 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD// // INVENTORY RESTS AT 861.80 TONNES
OCT 25/WITH GOLD UP $9.00 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/: //: // INVENTORY RESTS AT 860.07 TONNES
OCT 24/WITH GOLD DOWN $1.30 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE WITHDRAWAL OF 3.17 TONNES OF GOLD OUT OF THE GLD//WHAT A MASSIVE FRAUD! //: //: // INVENTORY RESTS AT 860.07 TONNES
OCT 23/WITH GOLD DOWN $6.80 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE 15.00 TONNES OF GOLD INTO THE GLD//WHAT A MASSIVE FRAUD! //: //: // INVENTORY RESTS AT 863.24 TONNES
OCT 20/WITH GOLD UP $14.50 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD //: //: // INVENTORY RESTS AT 848.24 TONNES
OCT 19/WITH GOLD UP $12.90 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 5.19 TONNES OF GOLD FROM THE GLD//: //: // INVENTORY RESTS AT 848.24 TONNES
OCT 18/WITH GOLD UP $32.55 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD//: //: // INVENTORY RESTS AT 853.43 TONNES
OCT 17/WITH GOLD UP $1.50 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: //: // INVENTORY RESTS AT 855.45 TONNES
OCT 16/WITH GOLD DOWN $6.45 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 6.92 TONNES OF GOLD FROM THE GLD //: // INVENTORY RESTS AT 855.45 TONNES
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: 859.49 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
OCT 31/WITH SILVER DOWN 41 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 917,000 OZ FORM THE SLV// /// /// /INVENTORY RESTS AT 442.833 MILLION OZ
OCT 30/WITH SILVER UP 46 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: /// /// /INVENTORY RESTS AT 443.750 MILLION OZ
OCT 27/WITH SILVER UP 3 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 641,000 OZ FROM THE SLV/// /// /INVENTORY RESTS AT 443.750 MILLION OZ
OCT 26/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/ /// /INVENTORY RESTS AT 444.391 MILLION OZ
OCT 25/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/ /// /INVENTORY RESTS AT 444.391 MILLION OZ
OCT 24/WITH SILVER DOWN 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A MASSIVE DEPOSIT OF 2.52 MILLION OZ INTO THE SLV/// /// /INVENTORY RESTS AT 444.391 MILLION OZ
OCT 23/WITH SILVER DOWN 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:/ /// /INVENTORY RESTS AT 441.871 MILLION OZ
OCT 20/WITH SILVER UP 50 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV:.A WITHDRAWAL OF 2.658 MILLION OZ FROM THE SLV/ /// /INVENTORY RESTS AT 441.871 MILLION OZ
OCT 19/WITH SILVER UP XXX CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. A /// /INVENTORY RESTS AT 444.529 MILLION OZ
OCT 18/WITH SILVER UP 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. A WITHDRAWAL OF 3.207 MILLLION OZ FROM THE SLV///// /.////INVENTORY RESTS AT 444.529 MILLION OZ
OCT 17/WITH SILVER UP 23 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV:. : // /.////INVENTORY RESTS AT 447.736 MILLION OZ
OCT 16/WITH SILVER DOWN 9 CENTS TODAY: BIG CHANGES IN SILVER INVENTORY AT THE SLV:. : //A WITHDRAWAL OF 2.664 MILLION OZ OUT OF THE SLV// /.////INVENTORY RESTS AT 447.730 MILLION OZ
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
CLOSING INVENTORY 442.833 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
Georgia Couple Helps Police Scam The Gold-Scammers
A Georgia couple nearly lost more than $186,000 in a gold scam. But they ended up turning the tables and scamming the scammers.
It all started with a pop-up on the Perry, Georgia, couple’s computer warning the machine was infected with a virus.
The couple called the help number provided.
That was their first mistake.
The scammer on the other end warned that the virus may have compromised their bank account and helpfully connected them with their bank’s fraud department.
This was the couple’s second mistake.
They should have hung up and called the bank’s fraud department directly.
The person the scammer connected them with was, of course, just another scammer. This individual confirmed that their account had been compromised, saying there were pending suspicious transactions.
The couple was then passed along to a third scammer pretending to be from the Federal Trade Commission.
This individual even emailed phony documents to “confirm” his identity.
The fake federal agent told the couple the best way to protect their money was to take the $185,916 from the compromised account and buy bars of gold.
The scammer told the couple an undercover FTC agent would come to their home, pick up the gold, and take it to Washington D.C. Once verified, the couple would receive a check for the full amount.
As implausible as this may sound to you and me, the couple bought the story and went as far as to purchase 1 kilogram Royal Canadian Mint gold bars from a dealer in Texas.
But at some point, the couple grew suspicious and called the police.
The case ended up on the desk of Perry Police Department Detective Sgt. J.I. “Ike” Wilcox,’ and he hatched a plan to scam the scammers. He dubbed it “Operation Goldfinger.”
It just so happened that Wilcox is an expert on fraud and teaches courses on how to avoid it.
“A lot of times that demographic is more vulnerable because technology has evolved so much during their lifetime,” Wilcox told the Macon Telegraph.
The police had the gold shipment rerouted back to the dealer.
The couple received a full refund. But with the help of police, the husband and wife strung the scammers along, telling them the gold was on the way. Sure enough, the scammers arranged to have a courier come to the couple’s home to pick up the gold.
When the SUV showed up, police arrested the driver, Gurdev Singh, 31, of Stockton, California. He faces numerous charges, including criminal attempt to commit theft by deception and exploitation of elder persons.
“I could safely describe his reaction as genuine surprise,” Wilcox said.
According to the Telegraph, the investigation remains open and detectives are trying to track down others involved in the scam.
According to the US Department of Justice, in 2021, cyber-related crimes stole more than $140 million from victims in Georgia alone.
The lesson is to always be on guard. If something feels fishy, it probably is.
There are thousands of unscrupulous people out there trying to rip you off. And some of them aren’t criminals.
There are a lot of shady businesses out there looking for ways to take advantage of you.
You can learn more about gold scams and how to avoid getting ripped off in our free report, Classic Gold Scams. Click the link below to download the free report!
A lot of people don’t think it does, at least not yet. They point to Japan as an example of a country that has a much higher debt-to-GDP ratio and is doing fine. Peter Schiff said they’re looking at the wrong country. The US is more like Argentina than Japan.
The debt to GDP ratio in Japan is over 200%. The US debt-to-GDP ratio is only around 125%. If Japan is doing fine, why should we worry here in the US?
Peter notes the fact that Japan isn’t really doing “fine.”
They’re having a problem right now in Japan. They’re on the cusp of a crisis.”
The yield on a 10-year Japanese Government Bond is up to .87%. The yen recently broke the 150 mark. Meanwhile, price inflation is ratcheting up.
Don’t say, ‘Hey, Japan got off scot-free.’ They didn’t. They’re about to get their come-uppance.”
Peter said the US is in a different situation than Japan and it will get its come-uppance sooner. It will never get to a 200% debt-to-GDP ratio. The US won’t even get to 150%.
Why not?
Peter said the big difference between the US and Japan is that Japan is a net creditor and the Japanese people save at a much higher rate than Americans.
The world owes Japan a lot of money. Japan has a lot of that money in US dollar assets — in US Treasuries, in US mortgage-backed securities. Japan is going to sell and is selling those assets to try to mitigate the damage. Because Japan was so wealthy, and didn’t have to borrow from abroad, they were able to run up their debt higher before the crisis happened. That doesn’t mean they’re not going to have a crisis. They just had more rope before they finally hung themselves with that rope.”
The US doesn’t have as much rope because the country is broke.
We owe the world. We owe the world a fortune. We depend on the world to buy our paper, to buy our Treasuries. That’s our biggest export — our debt — our dollars and our debt. If we can’t export that anymore, the economy doesn’t function anymore. It’s built on that whole foundation, which is in the process of collapsing. So, you can’t draw some false comfort in the fact that Japan got away with it to 200% of GDP, or whatever it is, so we can too. We’re not Japan. We are worse. We’re Argentina.”
The Argentinian central bank is also in a war against price inflation it can’t win. It recently raised its interest rate to 133%. And that’s still below the country’s inflation rate.
Even though they have interest rates in the triple digits, it’s not going to work. It’s not going to stop inflation. The budget deficits are rising in Argentina. The national debt is rising. So, inflation is not going away. These rate hikes aren’t going to stop it because they can’t change the dynamic of government spending. We are in the same predicament.”
Some people will say you can’t compare the US and Argentina. Peter said, “Sure we can.”
The laws of physics work in America the same way they work in Argentina. Economics are laws. We have the same consequences.”
Peter noted that at one point, Argentina was one of the wealthiest nations in the world.
So, Argentina wasn’t always broke. They are now. So, if it can happen to Argentina, it can happen to America if we’re doing the same exact thing that they did – running these big deficits, printing all of this money.”
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN AT 7.3155
OFFSHORE YUAN: DOWN TO 7.3318
SHANGHAI CLOSED DOWN 2.78 PTS OR 0.09%
HANG SENG CLOSED DOWN 293.88 PTS OR 1.69%
2. Nikkei closed UP 161.89 PTS OR 0.53 %
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 105.97 EURO RISES TO 1.0657 UP 44 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.936 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.74/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 DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.7705***/Italian 10 Yr bond yield DOWN to 4.684*** /SPAIN 10 YR BOND YIELD DOWN TO 3.840…**
3i Greek 10 year bond yield FALLS TO 4.097
3j Gold at $2000.20 silver at: 23.21 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 56 /100 roubles/dollar; ROUBLE AT 92.26//
3m oil into the 82 dollar handle for WTI and 87 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 150.74// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.936% 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 0.9025 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9593 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: 4.822 DOWN 6 BASIS PTS…
USA 30 YR BOND YIELD: 4.968 DOWN 7 BASIS PTS/
USA 2 YR BOND YIELD: 5.025 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 28.29…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 4 BASIS PTS AT 4.522
end
2.a Overnight: Newsquawk and Zero hedge:
Futures Rise, Yen Craters, Oil Rises As Israeli Troops Press Into Gaza
TUESDAY, OCT 31, 2023 – 08:19 AM
Futures were higher and European bourses were solidly in the green on the last day of the month, extending yesterday’s blistering rally which sent the S&P 1.2% higher and which took place after most of the mutual-fund year-end tax loss selling had exhausted itself during last week’s rout. As of 7:45am, S&P futures were higher by 0.2%, Nasdaq 100 futs gained 0.1%, while Europe’s Estoxx 50 outperforms, higher by around 1% on the day with materials sector outperforming. Treasury yields are lower after the US Treasury reduced its estimate for federal borrowing for the current quarter, citing stronger-than-expected revenue; the dollar was weaker against most major currencies, except the yen. Oil prices are edging higher after dropping in the prior session. Israel stepped up ground operations in Gaza and struck more targets in Lebanon and Syria overnight.
In premarket trading, Samsung Electronics profit beat expectations and it pointed toward a memory chip recovery, AB InBev also outpaced estimates and the performance of its peers, while Vans and North Face owner VFC plunged more than 6% after pulling its full-year guidance. Sarepta Therapeutics cratered 46% after saying results from its Embark Phase 3 study of Elevidys in patients with Duchenne muscular dystrophy between the ages of 4 through 7 years missed its main goal. Here are some other notable premarket movers:
Amkor Technology drops 13% after the semiconductor packaging company’s net sales forecast for the fourth-quarter missed expectations.
Arista Networks jumps 10% after the communications-equipment company reported fourth-quarter adjusted earnings per share and revenue that beat estimates.
Caterpillar Inc. falls 4% after the machinery maker reported a sequential decline in its order backlog.
Chewy rises about 4% as Morgan Stanley upgrades the pet products company to overweight, saying the 50% year-to-date selloff in the stock is overdone.
Harmonic shares are down 11% after the communications equipment company cut its full-year forecast.
JetBlue drops 7% after the low-cost carrier missed Wall Street’s earnings estimates and forecast a worse-than-expected loss this quarter.
Lattice Semiconductor falls 15% after the chip maker’s 4Q revenue forecast fell short of analyst estimates.
Lyft drops 3% after MoffettNathanson gives the stock a rare sell rating and set its price target at a Street-low.
PetMed tumbles 28% after the pet pharmaceutical firm suspended its quarterly dividend and posted 2Q earnings that disappointed.
Pinterest jumps 16% after the social-networking company reported third-quarter results that beat expectations.
VF Corp. (VFC) falls about 6% after the apparel and footwear company withdrew guidance for the fiscal year.
European stocks are also higher. The Stoxx 600 gains 0.7% with the real estate subindex the biggest outperformer, fueled by a continued retreat of bond yields. Swiss pharma giant Roche plunges on a disappointing drug study, pulling the sector lower, while fossil fuel giant BP slides after its third-quarter report missed expectations. Here are the most notable movers:
Wartsila jumps as much as 19%, the most since October 2008, after the Finnish marine and energy equipment manufacturer reported a strong beat to third-quarter figures
DSM-Firmenich gains as much as 8.8%, the most since its April listing, after the nutrition and chemicals company reported better-than-expected 3Q earnings, as well as reassuring guidances
Real estate stocks rise for a fourth session on Tuesday, outperforming the broader market, as bond yields decline. The Stoxx Europe 600 Real Estate Index rises as much as 2.4%, the most in about three weeks
Rolls-Royce gains as much as 6% to be best performer on FTSE 100 as Barclays upgrades the jet-engine maker to overweight, saying a fall over the past month presents a chance to buy
Anheuser-Busch InBev rises as much as 4% after the brewer reported 3Q earnings ahead of estimates. In what was a challenging period for peers, the performance “stands out,” RBC said
Spectris advances as much as 4.8% as the electrical engineering company says it expects full-year adjusted operating profit to come in toward the high end of a guided range
Roche falls as much as 4% to the lowest in five years after a trial of the Swiss drugmaker’s gene therapy for Duchenne muscular dystrophy did not meet the main goal in a study
BP declines as much as 5.5% after the energy company’s third-quarter profit fell short of estimates. Weak results in gas marketing offset a strong performance in oil trading
AMS-Osram drops as much as 4.4%, to the lowest intraday since 2009. The chipmaker’s 4Q guidance missed estimates and analysts said 2024 comments were on the cautious side
SES falls as much as 4.6% after the company said it’s delaying launches of five O3b mPOWER satellites, a move that will cause a mid-single digit percentage hit to 2024 sales and adj. Ebitda
Carlsberg declines as much as 3.2%, reaching the lowest intraday level since 2022, after the brewer reported third-quarter revenue that missed estimates, driven by weak Asia numbers
OMV slides as much as 4.3%, the most intraday since June, after Austrian refiner reported “slightly disappointing” 3Q clean CCS operating profit that missed estimates
And while stocks may struggle to keep their early gains, the biggest mover overnight was the Japanese yen which plunged the most in two months after the Bank of Japan made only minor changes to its policy settings, disappointing many who had expected more after the bank had leaked a far more bombastic report to the Nikkei. In its wishy-washy announcement, the BOJ halfheartedly ended YCC, saying the 1% cap on the 10Y would now be a reference rate, inviting bond bears to promptly test out how much higher yields will rise. Meanwhile, the implosion in the yen is sparking even more inflation which as noted below, is already crushing Kishida’s approval polling, and ensures that there will very soon be a major scandal between the Japanese government and the BOJ.
“This is the first critical test of whether Japanese officials care about the speed of JPY depreciation or specific levels,” said Simon Harvey, head of fx analysis at Monex Europe. “Thankfully for them lower Treasury yields are delaying any urgency for an answer, but any unexpected hawkish comments from Chair Powell tomorrow or a larger issuance in longer-date Treasuries could force the issue as soon as tomorrow.”
“It looks like loose monetary policy is likely to stay in place for some time to come,” he wrote in a note. “They are now in a corner and cannot afford to allow long-term bond yields to rise much further.”
The prospect of a weaker yen and negative interest rates means Japanese equities are in line for more gains, according to Charles-Henry Monchau, chief investment officer at Bank Syz. The Nikkei 225 added 0.5% on Tuesday, bringing its year-to-date rally to 18%. Japan’s gains stood in stark contrast to the rest of the global equity market. The S&P 500 is on track for a 2.8% retreat in October, a third monthly loss.
Elsewhere in Asia, stocks dipped led by Chinese equities, after data showed the nation’s factory activity fell back into contraction in October. The MSCI Asia Pacific Index slipped as much as 0.6%, erasing a small early advance after the China PMI figures, which also showed an expansion of the services sector unexpectedly eased. Consumer discretionary and materials were the worst performers. Earnings remain a big focus in what is the second-busiest week this reporting season for Asia. China’s Ganfeng Lithium and Japan’s Panasonic were among the biggest losers on the regional gauge after their results. Equities in Japan advanced after the central bank announced its decision to keep its easy monetary policy, making only minor changes to its yield-curve-control settings.
The Hang Seng and Shanghai Comp were pressured following disappointing PMI data which showed China’s factory activity returned into contractionary territory for October, while there were also plenty of earnings releases including from the likes of Bank of China, BYD and PetroChina.
Australia’s ASX 200 finished flat as strength in real estate, financials and the consumer sectors was offset by underperformance in mining stocks and after the weak factory activity data from Australia’s largest trading partner.
Japan’s Nikkei 225 was initially choppy after Industrial Production and Retail Sales missed estimates although the index was later supported following the BoJ policy announcement in which the central bank announced a less aggressive than anticipated tweak to YCC.
In FX, the Japanese yen tumbled over 1% versus the dollar after the Bank of Japan tweaked its yield curve control policy but disappointed hawks by once again taking a more dovish way out, one which is sure to spark more inflation and lead to a collapse of the already extremely unpopular Kishida government. The euro was is one of the best performing G-10 currencies meanwhile, rising 0.5%, despite euro-area CPI coming in below forecasts and GDP shrinking back into contraction!
In rates, treasuries rallied along with bunds and gilts. US 10-year yields fall 8bps to 4.82%, bull-flattening with futures near top of day’s range into early US session, with yields richer by 3bp to 8bp across the curve. Treasuries were well supported overnight, following the Bank of Japan’s modest policy tweak, saying the 1% level for JGB 10-year yields is now a reference point and adopts a flexible bond-buying stance, disappointing investors who expected a clearer policy signal. Core European rates lag Treasuries, while bunds held gains after Euro-area inflation eased to its lowest level in more than two years. US yields richer by up to 8bp across long-end of the curve, flattening 5s30s spread by 1.8bp on the day — 2s10s spread tightens over 4bp vs. Monday close with front-end underperforming; US 10-year yields around 4.82%, richer by 7.5bp on the day and outperforming bunds and gilts by 3.5bp and 0.5bp in the sector.
In commodities, oil prices rebounded after a steep drop yesterday as investors tracked developments in the Middle East. Israel struck more targets in Lebanon and Syria overnight, while stepping up its ground operations in Gaza. West Texas Intermediate rose 1% to near $83 a barrel. Spot gold climbed 0.1%.
Bitcoin was flatish on the session, holding around the $34.5k mark, with action contained and very much rangebound thus far as we await key US catalysts including the ECI before the week’s main Tier 1 events begin from a US perspective.
US economic data includes 3Q employment cost index (8:30am), August FHFA house price index, S&P Case-shiller house prices (9am), October MNI Chicago PMI (9:45am), consumer confidence (10am) and Dallas Fed services index (10:30am)
To the day ahead now, data releases include the Euro Area flash CPI release for October, as well as the Q3 GDP release, both of which came below expectations, with GDP once again contracting. Over in the US, there’s the Employment Cost Index for Q3 (8:30am), August FHFA house price index, S&P Case-shiller house prices (9am), October MNI Chicago PMI (9:45am), consumer confidence (10am) and Dallas Fed services index (10:30am). From central banks, there are several ECB speakers including Vice President de Guindos, and the ECB’s De Cos, Visco, Muller and Nagel. Lastly, today’s earnings releases include BP, Pfizer and Caterpillar.
Market Snapshot
S&P 500 futures little changed at 4,182.25
STOXX Europe 600 up 0.3% to 432.21
MXAP down 0.5% to 151.20
MXAPJ down 0.7% to 472.75
Nikkei up 0.5% to 30,858.85
Topix up 1.0% to 2,253.72
Hang Seng Index down 1.7% to 17,112.48
Shanghai Composite little changed at 3,018.77
Sensex down 0.2% to 63,978.37
Australia S&P/ASX 200 up 0.1% to 6,780.68
Kospi down 1.4% to 2,277.99
German 10Y yield little changed at 2.79%
Euro up 0.2% to $1.0634
Brent Futures up 0.9% to $88.25/bbl
Gold spot up 0.0% to $1,996.79
U.S. Dollar Index little changed at 106.14
Top Overnight News from Bloomberg
China’s NBS PMIs fall short of expectations, with manufacturing coming in at 49.5 (down from 50.2 in Sept and below the Street’s 50.2 forecast) and non-manufacturing at 50.6 (down from 51.7 in Sept and below the Street’s 52 forecast). RTRS
President Xi Jinping underscored his concerns — and more conservative social views — about China’s shrinking population in a speech calling on a key women’s organization to help bolster the nation’s birthrate by promoting a “culture” of childbirth. BBG
Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs. Tech company had been pushing to make chip shipments for next year before new restrictions came into effect. WSJ
The yen fell below 150 after the BOJ made only minor tweaks to its yield-control strategy. Governor Kazuo Ueda said the 1% cap on 10-year JGB yields is now just a “reference,” but doubts they’ll rise much higher. BBG
Euro-area inflation eased to its lowest level in more than two years as the bloc’s economy unexpectedly shrank following an unprecedented ramp-up in interest rates. CPI rose 2.9% in October — down from 4.3%. GDP fell 0.1%, missing estimates for stagnation. BBG
Israel struck more targets in Lebanon and Syria, while stepping up its ground operations in Gaza. The UN warned that the situation in Syria is “at its most dangerous for a long time.” Iran’s foreign minister will visit Qatar today to discuss the situation in Gaza. BBG
Russia has restricted western companies that sell their Russian assets from withdrawing the proceeds in dollars and euros, imposing additional de facto currency controls in an effort to shore up the weakening rouble. FT
Central banks have loaded up on more gold than previously thought this year, offering crucial support to prices. Purchases for the first nine months totaled 800 tons, driven mainly by China, Poland and Singapore — more than the same period last year, which ended with record demand. BBG
VFC pulled its guidance for its current fiscal year, slashed its dividend and said it will replace the president of its Vans brand. VF has come under pressure from activist investors this month. Shares fell nearly 9% premarket. WSJ
Commercial real-estate lending has slowed sharply, threatening a rise in defaults on expiring debt and a sharp decline in new construction…
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed amid a deluge of data releases at month-end including disappointing Chinese official PMIs, while participants also digested a slew of earnings releases and the conclusion of the BoJ’s live meeting. ASX 200 finished flat as strength in real estate, financials and the consumer sectors was offset by underperformance in mining stocks and after the weak factory activity data from Australia’s largest trading partner. Nikkei 225 was initially choppy after Industrial Production and Retail Sales missed estimates although the index was later supported following the BoJ policy announcement in which the central bank announced a less aggressive than anticipated tweak to YCC. Hang Seng and Shanghai Comp were pressured following disappointing PMI data which showed China’s factory activity returned into contractionary territory for October, while there were also plenty of earnings releases including from the likes of Bank of China, BYD and PetroChina.
Top Asian News
China’s Foreign Minister Wang met with the French Foreign Affairs Adviser to the President and the sides had friendly, in-depth exchanges regarding China-France and China-EU relations, as well as international and regional issues. Furthermore, Wang said he hopes the EU will adopt a more pragmatic and rational attitude in cooperation with China and avoid external interference, ensure mutual openness and promote stable bilateral relations.
US is to send its strongest-ever delegation to the China import expo amid improving relations, according to SCMP.
China interbank overnight repo rate rate jumps to as high as 50%, via official data.
European bourses are in the green, Euro Stoxx 50 +0.8%, following a mixed APAC handover and solid US lead with the region unreactive to the latest CPI & GDP metrics. APAC trade was mixed on account of numerous data points including soft Chinese official PMIs. Sectors are mostly firmer though Energy lagging given benchmark pricing and a poorly received update from BP while Healthcare slips after a disappointing drug update from Roche. At the other end of the spectrum, Chemical names outperform given cost-cutting measures from BASF. Stateside, futures are modestly firmer and have been moving directionally with European peers ahead of US data and a handful of earnings, ES +0.3%. Caterpillar Inc (CAT) Q3 2023 (USD): EPS 5.52 (exp. 4.79), Revenue 16.8bln (exp. 16.59bln), Financial Rev 822mln (exp 766mln), Adj. Operating Income 3.50bln (exp 3.09bln).
Top European News
UK insolvency service Q3 insolvencies in England and Wales total 6208; after seasonal adjustment, the number of company insolvencies in Q3’23 was 2% lower than in Q2’23, but 10% higher than Q3’22.
ECB’s Visco says ECB needs to be cautious in coming months after hiking rates so much and so quickly; EZ inflation is falling as expected and demand seen further contained in coming months due to delayed impact of rate hikes. A reason for recent rises in Italian bond spreads is probably that investors doubt Italy’s economic growth potential and control of public finances. Fears of a wage-spiral in EZ and unanchored inflation expectations have sharply diminished.
FX
Hawkish sources set Yen up for steep fall as BoJ sticks to dovish guidance after fixing flexible YCT ceiling at 1%, USD/JPY rebounds from 149.03 to 150.75 alongside Yen crosses.
Euro boosted by breach of 160.00 in EUR/JPY as EUR/USD reclaims 1.0600+ status and and leans on the DXY, Dollar index retreats from 106.45 to 105.89
Kiwi encouraged by upbeat ANZ business survey, with NZD/USD probing 0.5850 and AUD/USD cross reversing through 1.0900.
Aussie hampered with Yuan after disappointing Chinese PMIs, AUD/USD capped around 0.6350, USD/CNY above 7.3100 and USD/CNH over 7.3300.
PBoC set USD/CNY mid-point at 7.1779 vs exp. 7.3024 (prev. 7.1781)
Fixed Income
Bonds firmly underpinned approaching month end.
Gilts and T-note pick up the baton from EGBs to hover towards upper end of respective 93.51-09 and 106-19/02 ranges.
Bunds off best levels between 129.33-128.65 parameters and BTPs regroup within 110.70-15 bounds in relief post-Italian month end supply.
Commodities
Crude futures consolidated overnight after settling lower by USD 3.23/bbl and USD 2.85/bbl respectively on Monday, paring all of Friday’s gains and more after an unwind of some of the geopolitical risk.
Currently, WTI Dec resides just under USD 83/bbl (in a USD 82.29-83.17/bbl range) while Brent Jan trades around USD 87/bbl (in a USD 86.30-87.22/bbl parameter).
Spot gold is flat after seeing a similar unwinding of geopolitical premia while base metals are mixed but with modest gains given the risk tone; Dalian** iron ore** bid on Chinese optimism and as the likes of ING highlight potential strike action in Australia.
BOJ
BoJ maintained NIRP at -0.10% and the 10yr JGB yield target at 0% but widened the reference range to 100bps up or down from the target from 50bps and made YCC more flexible with the decision on YCC made by 8-1 vote in which board member Nakamura dissented. BoJ said it will regard the upper bound of 1% for the 10yr JGB yield as a reference in market operations and will guide market operations nimbly, while it will flexibly increase JGB buying, fixed-rate operations and collateral fund-supplying operations. Furthermore, it will determine the offer rate for fixed-rate JGB buying operations each time by taking into account market rates and other factors.
BoJ Governor Ueda says will patiently continue monetary easing with decided new measures; Will not hesitate to take additional easing measures if necessary; Getting gradually closer to achieving price target. Closely working with government and monitoring the situation on FX.** FX could affect policy if it impacts price outlook. Next spring’s wage talks will be an important factor**. Click here for more detail.
Japanese PM Kishida says excessive FX moves are not desirable; weak JPY has various reasons including yield differentials.
Geopolitics
White House National Security Adviser Sullivan met with the Saudi Defence Minister and confirmed President Biden’s commitment to support the defence of US partners against threats from state and non-state actors including those backed by Iran.
Drone intercepted over the Red Sea reportedly launched from Yemen, according to Walla News’ Elster; “drone launched by Yemen’s Houthi rebels have been intercepted by the IDF over the Red Sea”, according to Faytuks News.
Yemeni Houthis claim launch of drone towards Israel, according to Sky News Arabia citing AFP.
US Event Calendar
08:30: 3Q Employment Cost Index, est. 1.0%, prior 1.0%
09:00: Aug. S&P/Case-Shiller US HPI YoY, est. 1.78%, prior 0.98%
09:00: Aug. S&P CS Composite-20 YoY, est. 1.75%, prior 0.13%
09:00: Aug. S&P/CS 20 City MoM SA, est. 0.80%, prior 0.87%
09:45: Oct. MNI Chicago PMI, est. 45.0, prior 44.1
10:00: Oct. Conf. Board Consumer Confidence, est. 100.5, prior 103.0
On Halloween, the Bank of Japan (BOJ) has decided not to scare markets too much this morning and has only tweaked its yield curve control settings marginally by allowing 10yr Japanese government bond yields to increase above 1% – redefining it as a loose “upper bound” rather than a rigid cap. The central bank’s modest policy shift has led to a decline in the yen, slipping as much as -0.76% to 150.17 per dollar as investors were pricing in the risk of a greater change in the BOJ’s accommodative monetary policy stance. The Nikkei (+0.49%) is seeing gains as weakness in the yen is helping provide an additional boost. Meanwhile, yields on 10yr JGBs reached 0.957% early in Asia trading (from 0.89% at the previous close) before paring back slightly to 0.942% as we type and ahead of the press conference. Inflation forecasts have been increased but it still feels to us that the BoJ are very optimistic about the likelihood of hitting the 2% target so if we’re correct the YCC will be abandoned soon.
Moving on to other Asian equities, markets are mostly trading lower this morning after the latest batch of PMI data from China showed economic momentum continuing to wane in the world’s second biggest economy at the beginning of fourth quarter (more on this below). In terms of specific index moves, the Hang Seng (-1.77%) is leading losses across the region with the KOSPI (-1.32%), the CSI (-0.66%) and the Shanghai Composite (-0.38%) also trading in the red. S&P 500 (-0.38%) and NASDAQ 100 (-0.57%) futures are moving lower after a strong day yesterday. Yields on 10yr USTs (-2bps) are slightly lower at 4.87% as I type .
Coming back to China, the official manufacturing PMI unexpectedly contracted to 49.5 (50.2 expected) in October from 50.2, signalling renewed weakness in the sector. At the same time, the non-manufacturing PMI also dropped to 50.6 (52 expected) from 51.7 in September. The disappointing data suggests that the economy is still struggling despite better-than-expected Q3 GDP data reported recently. This might partly explain the stimulus package last week. Elsewhere, retail sales in Japan rose +5.8% y/y in September (v/s +5.9% expected), softening after four straight months of accelerating growth. It follows an expansion of +7.0% in August. Meanwhile, industrial output shrank -4.6% y/y in September and worse than expectations of -2.3% whilst the jobless rate dropped to 2.6% as expected in September from 2.7% previously.
Before the Bank of Japan announcement, risk assets saw a solid rally yesterday as investors grew hopeful that a material escalation in the Middle East would be avoided for now, particularly relative to concerns last Friday. That helped drive a major decline in oil prices, with WTI Crude (-3.78% to $82.31/bbl) erasing its rise since Hamas’ attack on Israel on October 7. Moreover, the Israeli shekel (+1.09%) saw its best daily performance in that time against the US Dollar, whilst gold (-0.42%) also lost ground, having closed above $2,000/oz on Friday for the first time in months. So in terms of the assets most sensitive to an escalation, it was one of the largest moving days since the current conflict began.
That backdrop helped support a recovery in global equities, with the S&P 500 (+1.20%) putting in its strongest session in two months after losing ground in 8 of the 9 previous sessions. However, it was fixed income that saw some of the more interesting moves, since yields on 10yr Treasuries were back up another +5.8bps to 4.89% ahead of the Fed’s decision and the Treasury refunding announcement tomorrow. Yields briefly rallied by c. 3bps after the Treasury reduced its net borrowing estimate for the current quarter to $776bn from the $852bn it had expected back in late July. However, this estimate was close to our rates strategists’ expectations, and bonds more than reversed the move by the close.
The 2s10s Treasury curve steepened another +0.8bps to close at -16.2bps. That’s the steepest that the 2s10s curve has been since July 2022, and means that the curve has steepened by over 60bps in just over a month. Clearly we’ve still got a bit further to go before the curve has a positive slope again, but if we did get back into positive territory, that would end the longest sustained period of inversion for the 2s10s yield curve since 1980. Remember from my CoTD last week here that every recession in the last 70 years has followed an inversion that had steepened up considerably from the most inverted point.
Over in Europe, sovereign bonds outperformed after the flash October CPI prints for Germany and Spain both surprised on the downside. In Germany, CPI fell to 3.0% on the EU-harmonised measure (vs. 3.3% expected), which is the lowest it’s been since June 2021. And in Spain, it came in at 3.5%, which was two-tenths higher than the September figure, but still beneath the 3.8% expected by the consensus. So that was some good news ahead of the Euro Area-wide CPI print today, which our European economists now see tracking at 3.0% for headline and 4.1% for core (vs BBG consensus at 3.1% and 4.2%, respectively). The data helped yields fall across the Euro Area with those on 10yr bunds (-0.9bps), OATs (-1.7bps) and BTPs (-6.9bps) all coming down on the day. The 10yr BTP-Bund has declined by a sizeable 11bps in the three sessions since last week’s ECB meeting.
Alongside the inflation data, we had the latest growth numbers out of Germany, which showed Q3 GDP only contracted by -0.1% (vs. -0.2% expected), and the Q1 and Q2 figures were revised upwards as well. But even with the better-than-expected news, this is hardly showing a booming economy, and our German economists point out that GDP has still stagnated over the last 18 months. They keep their full-year growth forecast for 2023 at -0.5% (link here) with 2024 at +0.3%, expecting growth to remain around stagnation in Q4-23 and Q1-24.
With all that in mind, equities put in an strong performance yesterday, with the S&P 500 (+1.20%) and Europe’s STOXX 600 (+0.36%) both moving higher on the day. The NASDAQ rose by +1.16%. It was broad-based advance for US equities, with 23 of 24 S&P industry groups rising on the day. The one exception was autos (-4.09%), which were weighed down by a -4.79% decline for Tesla on concerns over Chinese competitors, UAW agreements elsewhere in the sector, and production cuts from battery maker Panasonic which hinted at softer EV demand. The small cap Russell 2000 underperformed the broad rally (+0.63%) after hitting its lowest level since November 2020 on Friday. As my CoTD showed here yesterday, the Russell 2000 is now at levels in real price terms that it first surpassed in 2015. So beneath the surface and without the Magnificent Seven, US equities continue to correct from very high valuation with inflation helping in that process.
Elsewhere yesterday, the UK housing market showed little sign of a revival, as mortgage approvals in September fell to an 8-month low of 43.3k (vs. 44.5k expected). Furthermore, the latest M4 money supply data showed a year-on-year contraction of -3.9%, which is the fastest decline since August 2012. The releases come ahead of the Bank of England’s policy decision on Thursday, where they’re widely expected to keep rates on hold at 5.25%.
To the day ahead now, and data releases include the Euro Area flash CPI release for October, as well as the Q3 GDP release. Over in the US, there’s the Employment Cost Index for Q3, the Conference Board’s consumer confidence for October, the MNI Chicago PMI for October, and the FHFA house price index for August. From central banks, there are several ECB speakers including Vice President de Guindos, and the ECB’s De Cos, Visco, Muller and Nagel. Lastly, today’s earnings releases include BP, Pfizer and Caterpillar.
END
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
BoJ maintained NIRP & 0% 10yr target, but widened the reference range to 100bps – Newsquawk Europe Market Open
TUESDAY, OCT 31, 2023 – 02:26 AM
APAC stocks traded mixed amid a deluge of data releases at month-end including disappointing Chinese official PMIs
BoJ maintained NIRP and the 10yr JGB yield target at 0% but widened the reference range to 100bps up or down from target
European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after cash markets closed higher by 0.4% yesterday
DXY is firmer and just below the 106.50 mark, JPY lags post-BoJ, EUR/USD has pulled back beneath 1.06
Looking ahead, highlights include German GDP Flash, French Flash CPI, EZ Flash CPI & Flash-Prelim. GDP, US Employment Costs & Consumer Confidence, Speech from ECB’s de Guindos, Supply from Italy.
Earnings from AB InBev, BASF, Stellantis, BP, Marathon, Caterpillar, Pfizer, SYSCO, AMD.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
US TRADE
EQUITIES
US stocks were underpinned and oil prices slumped amid an unwinding of the geopolitical risk premium following the lack of a major escalation in the Israel-Hamas conflict, while the attention turned to the looming risk events.
SPX +1.20% at 4,166, NDX +1.09% at 14,335, DJIA +1.58% at 32,928, RUT +0.63% at 1,647.
US Treasury quarterly financing estimates showed the US expects to borrow USD 776bln in net marketable debt for the October-December period which is down USD 76bln from the July 2023 estimate.
Apple (AAPL) announced a new family of chips with the M3, M3 Pro and M3 Max, while the chips will use 3-nanometer technology and it also introduced the new Macbook Pro which will have up to 22 hours of battery life. Furthermore, the M3 Max and M3 Pro Macbook models will come in a new colour called Space Black with prices of the 14-inch Macbook Pro models beginning at USD 1,599 and the 16-inch Macbook Pro models beginning at USD 2,499.
APAC TRADE
EQUITIES
APAC stocks traded mixed amid a deluge of data releases at month-end including disappointing Chinese official PMIs, while participants also digested a slew of earnings releases and the conclusion of the BoJ’s live meeting.
ASX 200 finished flat as strength in real estate, financials and the consumer sectors was offset by underperformance in mining stocks and after the weak factory activity data from Australia’s largest trading partner.
Nikkei 225 was initially choppy after Industrial Production and Retail Sales missed estimates although the index was later supported following the BoJ policy announcement in which the central bank announced a less aggressive than anticipated tweak to YCC.
Hang Seng and Shanghai Comp were pressured following disappointing PMI data which showed China’s factory activity returned into contractionary territory for October, while there were also plenty of earnings releases including from the likes of Bank of China, BYD and PetroChina.
US equity futures were softer (ES -0.4%) amid the cautious mood and soft data releases in Asia.
European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after cash markets closed higher by 0.4% yesterday.
FX
DXY eventually strengthened and partially atoned for yesterday’s selling pressure which had coincided with an unwinding of the geopolitical risk premium, although further upside was capped heading into the upcoming risk events.
EUR/USD eased from the prior day’s best levels and retreated beneath 1.0600 after the latest rhetoric from ECB officials continued to point to no more rate hikes.
GBP/USD pulled back amid the cautious mood and after a softening in the UK Shop Price Index.
USD/JPY clawed back the prior day’s losses and reclaimed the 150.00 status after the BoJ policy announcement in which the central opted for a modest tweak to its yield curve control.
Antipodeans were pressured amid headwinds from disappointing Chinese PMI data and the cautious mood.
PBoC set USD/CNY mid-point at 7.1779 vs exp. 7.3024 (prev. 7.1781)
FIXED INCOME
10-year UST futures traded indecisively after the recent haven unwind and corporate issuances.
Bund futures remained afloat after yesterday’s bout of Eurozone data releases and ECB rhetoric.
10-year JGB futures were pressured ahead of the BoJ announcement owing to a hawkish source report which noted a potential tweak to YCC and underpinned the 10yr JGB yield to near the 1.0% cap. 10yr JGB futures were then choppy and momentarily pared all their losses after the central bank opted for a modest tweak and switched to an even more flexible approach on yield curve control.
COMMODITIES
Crude futures traded rangebound after yesterday’s geopolitical risk unwind and with prices contained overnight by the overall cautious risk sentiment and the disappointing Chinese official PMI data.
Spot gold was lacklustre following its recent failure to sustain the USD 2,000/oz status.
Copper futures were subdued with prices not helped by the contraction in China’s factory activity.
CRYPTO
Bitcoin was mildly pressured and steadily retreated beneath the USD 34,500 level.
NOTABLE ASIA-PAC HEADLINES
BoJ maintained NIRP at -0.10% and the 10yr JGB yield target at 0% but widened the reference range to 100bps up or down from the target from 50bps and made YCC more flexible with the decision on YCC made by 8-1 vote in which board member Nakamura dissented. BoJ said it will regard the upper bound of 1% for the 10yr JGB yield as a reference in market operations and will guide market operations nimbly, while it will flexibly increase JGB buying, fixed-rate operations and collateral fund-supplying operations. Furthermore, it will determine the offer rate for fixed-rate JGB buying operations each time by taking into account market rates and other factors.
China’s Foreign Minister Wang met with the French Foreign Affairs Adviser to the President and the sides had friendly, in-depth exchanges regarding China-France and China-EU relations, as well as international and regional issues. Furthermore, Wang said he hopes the EU will adopt a more pragmatic and rational attitude in cooperation with China and avoid external interference, ensure mutual openness and promote stable bilateral relations.
US is to send its strongest-ever delegation to the China import expo amid improving relations, according to SCMP
DATA RECAP
Chinese NBS Manufacturing PMI (Oct) 49.5 vs. Exp. 50.2 (Prev. 50.2)
Chinese NBS Non-Manufacturing PMI (Oct) 50.6 vs. Exp. 51.8 (Prev. 51.7)
Chinese Composite PMI (Oct) 50.7 (Prev. 52.0)
Japanese Industrial Production MM (Sep P) 0.2% vs. Exp. 2.5% (Prev. -0.7%)
Japanese Retail Sales YY (Sep) 5.8% vs. Exp. 5.9% (Prev. 7.0%)
Japanese Unemployment Rate (Sep) 2.6% vs. Exp. 2.6% (Prev. 2.7%)
New Zealand ANZ Business Confidence (Oct) 23.4 (Prev. 1.5)
New Zealand ANZ Activity Outlook (Oct) 23.1 (Prev. 10.9)
GEOPOLITICS
Israel PM Netanyahu said Iran is working to finance Hamas and that Israel will not agree to a cessation of fighting with Hamas after the October 7th attack.
White House National Security Adviser Sullivan met with the Saudi Defence Minister and confirmed President Biden’s commitment to support the defence of US partners against threats from state and non-state actors including those backed by Iran.
US VP Harris will meet with UK PM Sunak to discuss the Israel-Hamas conflict and Russia’s war in Ukraine.
EU/UK
NOTABLE HEADLINES
ECB’s Enria said ECB’s track record in fixing some issues at banks has in some cases been disappointingly slow, while he added there is no banking rule that can remove the need for effective supervision.
DATA RECAP
UK BRC Shop Price Index YY (Oct) 5.2% (Prev. 6.2%)
2 c. ASIAN AFFAIRS
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 2.78 PTS OR 0.09% //Hang Seng CLOSED DOWN 293.88 PTS OR 1.69% /The Nikkei CLOSED UP 161.89 PTS OR 0.53% //Australia’s all ordinaries CLOSED UP 0.10 % /Chinese yuan (ONSHORE) closed DOWN AT 7.3155 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.3318 /Oil DOWN TO 82.88 dollars per barrel for WTI and BRENT UP AT 87.01/ Stocks in Europe OPENED ALL GREEN// 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/
They actually raised the cap without saying so:
Yen tumbles/yields in Japan rise a bit
(zerohedge)
Yen & UST Yields Tumble After BoJ’s Mixed Messages, But…
MONDAY, OCT 30, 2023 – 11:40 PM
The market was well prepared for action from the Bank of Japan (BoJ) tonight after Nikkei reported the central bank’s intent to consider another tweak to its yield curve control (YCC) policy.
Having moved from 0.25% to 0.5%, then to 1%, the Nikkei report prompted speculation that the central bank would raise the limit again, rather than abandoning YCC altogether, as JGB yields have traded up close to the 1% limit in recent days.
The report noted that “the second framework tweak in three months appears to have been deemed necessary as 10-year yields are approaching 1% amid a backdrop of rising U.S. rates” and added that the “BOJ is also likely to more flexibly conduct its JGB purchase operations… This, along with a more flexible cap on 10-year yields, is aimed at deterring speculators from targeting the upper limit and sparing the BOJ the need to buy droves of JGBs to keep rates under 1%.”
However, consensus is that BoJ will stand pat as historically the BoJ has paid less attention to market expectations than, say, the Fed.
If USDJPY was anything to go by, it was starting to remove the odds of a BoJ YCC adjustment, as JPY weakened back from earlier gains on the Nikkei report…
As we detailed earlier, no matter what the BOJ does today, the decision is sure to move markets.
A policy hold could spur yen selling.
There’s a good chance, though, that a sharp move beyond 150 against the dollar would invite intervention by Japan’s authorities to defend the currency.
A tweak to the YCC parameters, such as lifting the 10-yield yield ceiling to 1.5%, could support the yen.
But any strengthening would probably be limited to at most about 145 against the greenback, given the upward tug on the dollar from relatively high US yields.
Additionally, The BoJ is expected to raise its inflation forecasts for both this fiscal year and next. This would likely bring Japan’s key inflation above 2% for three straight years, which of course leads to the question of why the BOJ still needs to continue with the current stimulus policy given its side-effects.
So what will they do…
Well, earlier today, Prime Minister Fumio Kishida was asked in parliament ahead of the decision whether the BOJ’s ultra-easy policy was weakening the yen and causing price rises. Kishida, whose approval rating just hit a record low dur to soaring inflation, said central bank policy aims to achieve and maintain stable prices. He added that the government should coordinate with the BOJ on macroeconomic policies.
And while the BoJ has released a policy statement at 12:06pm Tokyo time on the average since the introduction of yield curve control in 2016, today the BoJ released its statement at 12: 27pm Tokyo time (exactly one standard deviation late to its norm) and kept rates unchanged:
BoJ maintains NIRP at -0.10% and 10yr JGB yield target at 0% but makes what was formerly a hard cap of 1% on yields into a reference range of 100bps up or down, vs the previous target of 50bps, thus making YCC even more flexible. The BoJ also says:
Will regard upper bound of 1% for 10yr JGB yield as reference in market ops.
Decision on YCC was made by 8-1 vote with Nakamura the dissenter.
Decides to make YCC more flexible.
Japan’s inflation outlook is overshooting but due largely to prolonged rises in import costs.
Will guide market operations nimbly.
The most important changes of these is the BOJ’s description of the 1% rate as “a reference”, which sounds similar to the July 28 BoJ meeting, when Governor Kazuo Ueda made his first surprise move by maintaining the 10y yield target at 0% but said its 0.5% ceiling was a reference point and not a rigid limit. Back then, the BoJ offered to buy bonds at 1% and the JGB 10y yield was up 0.15% over the following week.
Likely, the BoJ would allow 10y bond yields to creep higher with potential rinban operations risk if the 10y bond yields advance higher much too quickly.
Additionally, the BOJ has also decided to abandon its daily fixed-rate bond-buying operations, its major tool for impacting rates, citing the “large side effects” it might entail. The BoJ also raised its economic growth but more importantly, its inflation forecasts…
… which means that all else equal, Kishida’s approval rating is about to become even worse!
This is mainly due to the prolonged effects of a pass-through to consumer prices of cost increases led by the past rise in import prices and the recent rise in crude oil prices. Toward the end of the projection period, the Bank expects that underlying CPI inflation will increase gradually toward achieving the price stability target of 2 percent, while this increase needs to be accompanied by an intensified virtuous cycle between wages and prices.
Still confused? here is the BOJ’s trademark “explainer” for what today’s decision means. The bottom line is that the 1.00% cap is officially gone and instead the BOJ will allow 10Y rates to rise above the former hard limit at which point it may or may not engage in “nimble market operations.”
The initial reaction to the BoJ’s moves implied a less hawkish than expected statement, prompting JPY weakness, breaking back above 150/USD…
JGB yields tumbled back…
And so did 10Y UST yields…
However, as UBS trading desk explains:
My interpretation of the changes are that the previous YCC target of 0% +/-50bp was the loose target, allowing 10y JGB yields up to 1%, where it would conduct daily fixed-rate purchases if needed.
Now the operations will not necessarily be at 1.00%: “The bank will determine the offer rate for fixed rate purchase operations each time, taking account of market rates and other factors.”
Effectively the BoJ has raised the yield cap without saying where it is – still trying to let the markets find the natural balance of supply and demand whilst keeping a lid on bond vol
So nothing would surprise us more than to wake up in the morning and see all this reversed.
Finally, Bloomberg’s Gearoid Reidy asked a fascinating question: does the BOJ actually want to control the yield curve?
The statement says:
“It is appropriate for the Bank to increase the flexibility in the conduct of yield-curve control, so that long-term interest rates will be formed smoothly in financial markets in response to future developments.”
That’s just… the market, surely? Where is the control? Does YCC even effectively exist anymore?
How long until the market realizes that Japan’s legendary YCC no longer actually exists?
end
3 CHINA
China has bought 800 tonnes of gold in the first 9 months //heading for a yearly total of close to 1200 tonnes/
(zerohedge)
China leads record central bank gold buying in first nine months of year
Central banks in emerging markets look to reduce reliance on US dollar for reserves holdings
China has spearheaded record levels of central bank purchases of gold globally in the first nine months of the year, as countries seek to hedge against inflation and reduce their reliance on the dollar.
Central banks have bought 800 tonnes in the first nine months of the year, up 14 per cent year-on-year, according to a report by the World Gold Council, an industry group…
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
EUROPE
Eurozone contracts .1% q/q/
(zerohedge)
Eurozone Economy Shrinks For First Time Since COVID, Inflation Tumbles… But EUR Rallies
TUESDAY, OCT 31, 2023 – 08:18 AM
After the BoJ’s malarkey overnight, it was Europe’s turn to make economic headlines this morning and sure enough it did not disappoint (well it did, but vol traders were excited).
In the third quarter the Eurozone economy contracted by 0.1% compared to the second quarter, below expectations of 0.0%. This is the first decline since Q2 2020 (amid the COVID lockdowns).
There is wide dispersion in the growth figures published so far for individual member states, ranging from -2.5% q/q in Lithuania to +0.5% q/q in Belgium.
Among the largest member states, Spain (+0.3% q/q) and France (+0.1 q/q) managed to grow, while Europe’s biggest weak spot is also its largest economy, Germany, which revealed Monday that output shrank by 0.1% in the third quarter.
Additionally, Euro-area inflation eased to its lowest level in more than two years as the bloc’s economy shrank following an unprecedented ramp-up in interest rates.
Consumer prices rose 2.9% in October – down from the previous month’s 4.3% and better than the 3.1% median estimate in a Bloomberg survey analysts.
Rabobank economists wrote in a note this morning after the data that they believe the Eurozone will enter a mild recession, followed by a period of sluggish growth.
Although it is rather difficult to precisely estimate the exact effect, undoubtedly, higher interest costs should put a lid on growth. Meanwhile, the labour market will likely loosen somewhat, but we expect that it remains structurally tight.
This both puts a floor under an economic contraction (since consumers can uphold their consumption) and a lid on economic growth as companies struggle to find qualified workers.
Foreign demand is unlikely to be able to substantially lift the Eurozone growth figure, as we expect a struggling Chinese economy and a US recession in 23Q4-24Q1.
However, they warn that there are some serious risks to this rather benign outlook :
The most obvious one being a further escalation of the war in the Middle-East, which could lead to seriously higher energy prices.
The economic impact of higher energy prices could be bigger than it was last time around. Governments no longer have the same fiscal firepower to cushion the blow, due to the increased cost of borrowing, whilst at the same time most consumers can’t rely anymore on a glut of pandemic savings. Indeed, in most countries, household savings adjusted for inflation are close to their pre-pandemic level.
Meanwhile, companies are also in a worse position to handle a new energy price shock. They already face (or are about to face) significantly higher financing costs and increasing labour costs, whilst the slowing economy likely means that they can’t fully charge those higher costs to their customers.
The economic price of a renewed energy shock could therefore be larger.
The GDP reading stands in stark contrast to the US, which last week reported bumper growth between July and September, while also managing to bring down inflation, but after all that… the euro is rallying against the dollar…
Source: Bloomberg
Why is the euro rallying?
Bloomberg’s Simon White has some thoughts.
GDP disappointed slightly to the downside, as did CPI, although expectations were skewed to the downside by softer-than-expected German inflation data on Monday.
GDP and especially CPI, though, are lagging economic indicators, and give us little insight about what is going to happen.
Leading data for inflation and growth have shown nascent signs of turning higher in Europe, which would indicate a re-acceleration in inflation and less negative economic growth than is currently anticipated.
On top of that, the ECB will be concerned about wage growth, which in real terms is positive and rising quickly.
Euribor futures are basically unchanged after the data, which makes sense given it is only telling us what has already happened. But the cuts priced in for next year are looking vulnerable if leading data maintains its momentum.
Simply put, leading data (not the lagging data released today) for the eurozone showed early signs of stickier inflation and a stabilization in the economic outlook. If sustained, that would mean market expectations for a rate cut by June are premature.
end
5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS
ISRAEL-HAMAS
IDF eliminates a key senior HAMAS commander
(Jerusalem Post)
IDF eliminates senior Hamas commander
Naseem Abu Ajina was the commander of the Beit Lahia Battalion in Hamas’s Northern Division.
IDF jets eliminate Naseem Abu Ajina, the commander of the Beit Lahia Battalion in Hamas’s Northern Division. (IDF)
The Hamas commander who orchestrated the attacks on Erez and Netiv Ha’asara during the deadly Hamas massacre in southern Israel on October 7 has been eliminated, the IDF and Shin Bet (Israel Security Agency) said in a statement on Tuesday morning.
Naseem Abu Ajina was the commander of the Beit Lahia Battalion in Hamas’s Northern Division.
Previously, Ajina had commanded Hamas’s aerial capabilities and had been involved in developing the terror organization’s drones and UAV capabilities.
Israeli soldier around the destruction caused by Hamas terrorists in Kibbutz Nir Oz on October 7, 2023, near the Israeli-Gaza border, in southern Israel, October 30, 2023 (Chaim Goldberg/Flash90)
The statement noted that Ajina’s elimination has dealt a significant blow to Hamas’s ability to disrupt the IDF’s operations on the ground.
Hundreds of Hamas military targets were destroyed and many terrorists have been killed by the IDF over the past 24 hours, the IDF announced on Tuesday morning.Some 300 targets were attacked, including anti-tank missile and rocket-launching positions, Hamas tunnels, and military installations, the IDF Spokesperson’s Unit announced.
end
Israel tanks 5 km into GAZA
(Jerusalem Post/NY Times)
Satellite images show Israeli tanks 5km. into Gaza – New York Times
The Times report says that “satellite imagery taken Monday morning shows the substantial scale of one of Israel’s main advances into northern Gaza.”
By SETH J. FRANTZMANOCTOBER 31, 2023 10:56Updated: OCTOBER 31, 2023 11:44
A satellite image shows northern Gaza, amid the ongoing conflict between Israel and Hamas, October 28, 2023(photo credit: Planet Labs PBC/Handout via REUTERS)
Satellite photos published by The New York Times on Tuesday show Israeli tanks have reached Al-Bahr Boulevard in Gaza, a large street that runs across the Strip from the beach toward Jabalia.
Scale of Israel’s advancement
The important junction of Bahr and Rashid streets is not overlooked by the IDF, according to the photos. Rashid is a major street that runs north-south. Rashid begins around a kilometer south of the border and runs all the way south, passing Shati camp and the Gaza port before heading to the southern area of the Gaza Strip. As the street arrives at the junction with Bahr and heads south there are a number of small hotels and “chalets” that people can stay at on the beach.
The Times report says that “satellite imagery taken Monday morning shows the substantial scale of one of Israel’s main advances into northern Gaza, where hundreds of armored vehicles have pushed miles past the border into urban areas on the outskirts of Gaza City.” Al-Ain media in the Gulf also reported about the photos, saying they are a “silent witness” to Israel’s advance.They also show evidence of airstrikes and artillery bombardment, the reports say. Yesterday a report at Al-Ain also said photos and video from Gaza had shown that Israeli forces had reached Salah al-Din Street, another important north-south thoroughfare. This puts Israeli forces south of Gaza City and now also northwest of it on the beach. Advertisement
Satellite photos are increasingly a way for analysts and news organizations to track a conflict when on-the-ground reports are absent.
END
Drone from Yemen intercepted over Southern Israel. Start to looking for terrorists in tunnels and of course looking for hostages in those tunnels
(zerohedge)
Drone From Yemen Intercepted Over Southern Israel As UN Warns War Spilling Outside Gaza
TUESDAY, OCT 31, 2023 – 09:55 AM
The Israel Defense Forces (IDF) has said Tuesday its troops are busy engaged in “fierce battles against Hamas terrorists deep in the Gaza Strip” and that multiple Hamas positions and anti-tank guided missile units have been destroyed.
A military statement also said troops had killed dozens of terrorists as tanks push deeper into northern and central Gaza, after yesterday tank units cut off a key north-south highway which links both halves of the Strip.
A statement from Hamas was cited in regional media as saying, “Israeli military vehicles are being seen on the Salahuddin Highway trying to move west,” and affirmed that “Israeli forces also entered the strip from northwestern Gaza. Armored vehicles can now be seen in the al-Karam district north of Gaza City.”
Amid ongoing airstrikes accompanying the ground invasion, the Palestinian death toll has surpassed 8,500 as of Tuesday. For the first time this has pushed the total number of people killed in the conflict from both sides near 10,000 – as more than 1,400 Israelis have been confirmed dead.
A fresh New YorkTimes report has examined satellite imagery taken Monday morning which “shows the substantial scale of one of Israel’s main advances into northern Gaza, where hundreds of armored vehicles have pushed miles past the border into urban areas on the outskirts of Gaza City.” According to more from the detailed report:
Israel has so far stopped short of the rapid and overwhelming ground assault that many analysts expected. But the imagery, taken on Monday morning by Planet Labs, a commercial satellite company, shows a significant invading force: many groups of dozens of armored vehicles cutting through open fields and amassing in urban spaces.
The image provides the clearest picture yet of how far one the main lines of Israel’s invasion has moved into Gaza and the destruction it has caused. Israeli vehicles are seen as far south as the neighborhood of Al Karama, north of Gaza City. Videos released by the Israeli military had previously shown lines of tanks operating near the border area.
Many nearby buildings appear to have been heavily damaged or completely destroyed by airstrikes. Hundreds of craters from airstrikes and shelling are visible, including in homes and on roads, and apartment blocks have been flattened.
Israel has also said it has begun to attack Hamas militants inside the sprawling network of tunnels which forms the base of the group’s operations in the Gaza Strip.
Regional tensions and the potential for the war to spread have grown after PM Netanyahu said in a Monday night address amid international calls for a ceasefire or at least humanitarian pause that, “Calls for a ceasefire or calls for Israel to surrender to Hamas, to surrender to terrorists, to surrender to barbarism, that will not happen.”
He was also pressed by reporters over whether he would resign amid the growing scandal over Oct.7 intelligence and military preparedness failures. Netanyahu merely said he plans to “resign” Hamas: “We’re going to resign them to the dustbin of history. That’s my goal. That’s my responsibility.”
The UN is now warning that the war is spilling over into Syria, after Israel struck more targets in Syria and Lebanon overnight, and after Hezbollah fired more projectiles. Israel in the last two weeks has already struck Damascus and Aleppo international airports several times.
And related to regional tensions with Iran, Shia Houthi rebels in Yemen appear to have stepped up their threats and attacks aimed at Israel. The group’s military spokesman on Tuesday announced a “third operation targeting Israel with more to come.” According to Al Jazeera, a drone sent from Yemen made it to southern Israeli skies:
Yemen’s Houthi rebels claim to have launched a drone attack towards Israel’s southern city of Eilat in “retaliation” for the war in Gaza.
Israel reported having destroyed an unidentified “aerial target” over the Red Sea on Tuesday morning.
It was successfully intercepted, Israeli officials have said. “The incident triggered air raid sirens in the popular Red Sea tourist resort of Eilat and sent residents running for shelter,” the Al Jazeera report continues, indicating further:
After an initial warning of a possible “hostile aircraft intrusion”, the military said in a statement, its “systems identified an aerial target approaching Israeli territory”.
Yesterday at the UN, Israel’s ambassador Gilad Erdan in a dramatic speech, which also saw his delegation wearing yellow star of David emblems and vowing “never again”, ripped the “Nazi regime” of the Islamic Republic of Iran.
“Just like the Nazi regime, the Ayatollah’s regime (in Iran) sows death and destruction everywhere it touches,” the Israeli ambassador to the UN said. “The Islamic Nazi regime of Iran is responsible for aiding terrorists around the globe, and working toward destroying every value the civilized world holds dear. Today the world is watching the rise of a Shiite Islamic Reich. Yet just like the rise of Nazism, the world is deafeningly silent.”
The stunt was met with criticism and pushback internationally, and especially from Yad Vashem (The World Holocaust Remembrance Center), whose chairman Dani Dayan had this to say…
“We were deeply saddened to witness members of the Israeli delegation to the UN donning yellow badges.” He emphasized that such a move trivializes and dishonors the Holocaust and its victims, and harms the reputation of Israel itself.
Israel and the US have continued to ultimately blame Tehran for what its proxies are doing, particularly related to Hezbollah, paramilitaries in Syria, and now Houthis after it has sent a few rockets toward Israel in the last couple weeks (the first which was intercepted by a US warship off Yemen’s coast).
end
Israel announced two soldier deaths
Israel Announces First Confirmed IDF Troop Deaths Of Gaza Invasion
TUESDAY, OCT 31, 2023 – 01:23 PM
(Update1323ET): Israel has admitted that this war will be long and costly, including in human lives on both sides. It has announced what the IDF says are its first troop casualties of the Gaza campaign which are being publicly disclosed by the military (there could be more that aren’t publicly disclosed). Per Israeli media citing the Tuesday words of Defense Minister Yoav Gallant:
There are battles against the forces that are operating [in Gaza] and the results and achievements on the battlefield are very high,” he says.
“Unfortunately, in war, there are also prices, and the prices in the last day were heavy prices,” Gallant continues.
“Despite that, we are also determined to continue and win,” he adds.
The IDF has said that two soldiers were killed and two seriously injured in fierce fighting in Gaza today and that “numerous” terrorists were killed.
More tanks have been observed pouring into northern Gaza, as the scale of the operation continues to grow by the day.
Missile fire and artillery exchanges have also continued on Israel’s northern border, where Hezbollah has been claiming successful anti-tank operations.
* * *
end
Hundreds wounded and dead after Israel struck a refugee camp in Gaza that housed HAMAS top commander. He was eliminated but that is war..they were told to leave.
‘Hundreds’ Wounded & Dead After Israel Strikes Refugee Camp In Gaza, IDF Spox Shrugs Off Civilian Deaths
TUESDAY, OCT 31, 2023 – 04:30 PM
Update(1630ET): There’s been more confirmation of the Israeli airstrikes on a densely populated refugee camp in Jabaliya neighborhood, which lies north of Gaza City. Israel’s military has owned up to it, saying an important senior Hamas commander who helped plan the Oct.7 terror attack was eliminated. Al Jazeera is citing health sources at the nearby “Indonesian Hospital” to say that at least 50 Palestinians have been killed, mostly civilians, and that number is expected to rise. “Hundreds” are said to have been injured and killed in the attack, per Sky News.
But when an IDF spokesman was pressed by CNN’s Wolf Blitzer over why Israel chose to attack even while knowing hundreds of civilians were there, he essentially explained that eliminating the Hamas commander was more important than safeguarding civilian lives (see exchange below). The New York Times has detailed of the massive strikes on the neighborhood area and refugee camp:
The Gaza Health Ministry, which is controlled by Hamas, said the Israeli strikes killed and wounded “hundreds” of people in the Jabaliya neighborhood, a statement that could not be immediately verified. A doctor at a nearby hospital said the facility was receiving hundreds of injured and that dozens were dead.
Israel’s military said in a statement that its fighter jets, in a “wide-scale” attack, had struck Hamas militants, including a commander who helped plan the Oct. 7 massacre that left 1,400 people dead, mostly civilians.
“His elimination was carried out as part of a wide-scale strike on terrorists and terror infrastructure belonging to the Central Jabaliya Battalion, which had taken control over civilian buildings in Gaza City,” the military said.
It reiterated a warning for Gazans to evacuate south, a call that came as Israeli ground troops and tanks pushed deeper into the Gaza Strip and were edging closer to the territory’s main city. More than half the population of two million people has been displaced since Israel expanded a blockade of the enclave in response to Hamas attacks that killed 1,400 people.
World Health Organization head Tedros Adhanom Ghebreyesus has said the loss of life in Gaza is reaching “staggering” numbers. He stated, “The number of civilian casualties in Gaza is staggering. The limited aid flow is a mere trickle of the growing needs. Without urgent, unrestricted access at scale, tragedy will continue unfolding before our eyes,” he emphasized.
The White House has continued to reject calls for a ceasefire, in support of its Middle East partner Israel. However, the bad optics of the IDF’s spokesman essentially shrugging off mass civilian death when pressed by Wolf Blitzer will only serve to increase the international pressure. When its not Putin or Assad doing it, it must be ‘okay’… the message to the globe seems to be from Washington and the Western allies.
Pressure mounting on Israel, and no doubt the White House as Gaza deaths soar past 8,500
World Health Organization head Tedros Adhanom Ghebreyesus has said the loss of life in Gaza is reaching “staggering” numbers. He stated, “The number of civilian casualties in Gaza is staggering. The limited aid flow is a mere trickle of the growing needs. Without urgent, unrestricted access at scale, tragedy will continue unfolding before our eyes,” he emphasized.
The White House has continued to reject calls for a ceasefire, in support of its Middle East partner Israel. However, the bad optics of the IDF’s spokesman essentially shrugging off mass civilian death when pressed by Wolf Blitzer will only serve to increase the international pressure. When its not Putin or Assad doing it, it must be ‘okay’… the message to the globe seems to be from Washington and the Western allies.
Pressure mounting on Israel, and no doubt the White House as Gaza deaths soar past 8,500
Due to their long history of funding and abetting Islamic fundamentalist militias, Qatar became the Mecca for Arab terrorism in the 21st century. The estimate of Qatari funding for Hamas topped $1.8 billion in 2021, and they’ve lent their political support to branches of Al Qaeda, to the Taliban, as well as to Khalid Sheikh Mohammed, the architect of the 9/11 attacks.
In light of the tight security partnership between the two countries, the United States must now require the Qatari government to hand over the terrorists on its soil, or at least expel them. It also needs to step up efforts to definitively halt the funding and support of Islamic terror networks, even those that are “deeply ideologically tied” to the “pure Islam” of the Wahhabi movement that most Qataris practice.
Then, as punishment for Qatar’s affiliation with Hamas, the international community should ensure that all global sporting events, including the 2024 World Aquatics Championships and the 2024 F1 Qatar Grand Prix, be removed from Qatar, to be held elsewhere.
Barbarism in the name of liberating Palestine reared its ugly head during the 1972 Summer Olympics in Munich, Germany, where eight Palestinian militants infiltrated the Olympic Village, killed two members of the Israeli Olympic wrestling team, and took nine other Israeli athletes and coaches hostage. After a gun battle, German police killed most of the terrorists, but the rescue attempt failed, and all of the hostages died that day.
American Mark Spitz was the star of the 1972 Olympics, where he won seven gold medals and set seven world records in swimming. Never before had one athlete been so dominant on the global stage.
Mark Spitz was the most recognized athlete in the world at the time. He also left Germany fearing for his life because he is Jewish.
“My coach and I were put in the back seat of a car and they told me to crouch down and they put this blanket over me,” Spitz recalled to a journalist recently.
“It was like an out-of-body experience,” said Spitz, who was 22 at the time. “The feeling was, wow, it’s hard to believe that happened to the Israelis. Why would somebody do that to an innocent group of people who had only good intentions?”
My daughter is a newly minted, dual citizen of Israel and the United States, and a member of the Israeli women’s 4 x 200-meter freestyle relay team that placed 10th at this year’s World Swimming Championships in Fukuoka, Japan. She and her team of 18 athletes spent this past summer flying to and from Israel for international events in Italy, Hong Kong, Ireland, and Japan.
Like all Israeli athletes, they traveled incognito, for fear that revealing the country they compete for would make them a terrorist target. No passport stamps and no team gear or logos on bags.
If the 2024 World Swimming Championships are not moved from Qatar, she and her teammates would miss the meet that determines their eligibility to compete in the 2024 Olympics in Paris. These athletes’ Olympic dreams would end prematurely, and for a reason they don’t deserve.
There’s precedent for boycotts on behalf of lesser crises. In the past few years, both the NBA and MLB moved their all-star game showcases away from North Carolina and Georgia respectively, due to political decisions made by the state’s lawmakers. Olympic boycotts have become fairly common.
Qatar leaders deny any assertions that they knowingly support terrorism, instead projecting themselves as the Middle East’s Switzerland, a neutral actor that can serve as a negotiating conduit between warring parties. But their claims of neutrality require more commitment to peace than they’ve shown to date.
On October 7, 2023 – a day that changed the security landscape in the region – the indiscriminate rape, torture, and slaughter of Israeli women, children, and babies played out in front of the world’s eyes. In its official statement, the Qatari Foreign Ministry said it held Israel “solely responsible” for the bloodshed due in part to its “incursions into the Al Aqsa Mosque.”
In 2017, Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt all cut off relations with Qatar and executed a blockade, due to the latter’s close ties with Iran and its funding for Islamist militias. The protesting countries particularly feared Qatar’s powerful state-owned news network, Al Jazeera, which regularly spreads vile, propaganda-filled messages that often incite popular uprisings.
On his recent visit to the crisis region, U.S. Secretary of State Antony Blinken stopped in Qatar, in hopes of de-escalating the Gaza situation.
The U.S. has 8,000 troops stationed at the Al-Udeid Air Base, 20 miles southwest of Doha, Qatar. Following the Gulf War, the emirate spent lavishly to lure the U.S. to set up shop in their country. Since then, the Qataris have poured more than $8 billion fixing up Al-Udeid, now equipped with a Burger King, a Pizza Hut, a FOX Sports Bar, and a gym.
Importantly, Al-Udeid has become the forward headquarters of the U.S. military’s Central Command, where they oversee combat missions, surveillance flights, and drones across the Middle East, North Africa, and Asia.
Qatar’s image rinse comes in increasingly sophisticated and effective ways. In addition to hosting the FIFA World Cup in 2022, the Qatari government operates the soccer “super team,” Paris St. Germain, where both of the tournament’s top stars, Kylian Mbappe and Lionel Messi, played together. The Qatar Investment Authority has an estimated $450 billion of assets spread lavishly around the world, including stakes in Volkswagen, Credit Suisse, and the remains of Miramax.
And their help with Hamas is appreciated. Last Friday night, when Hamas released its first two hostages, Judith and Natalie Raanan, American officials quickly thanked the Qataris for their help.
But Ismail Haniyeh, Hamas’ leader, has a clandestine lair in Qatar, near his organization’s shadow headquarters. He reportedly met with Iran’s foreign minister, Hossein Amir-Abdollahian, in Doha during the week following the massacre in Israel.
As Qataris well know, the story that is told to the world matters.
During the opening ceremony for 2021 Tokyo Olympics, nearly fifty years after the Munich killings, the International Olympic Committee finally held a moment of silence to commemorate the Israeli athletes and coaches.
Let’s hope it doesn’t take the world so long to embrace the victims this time.
Martin Luther King Jr. said, “That old law about ‘an eye for an eye’ leaves everybody blind. The time is always right to do the right thing.”
Eric Spitz is a serial entrepreneur who entered the cannabis industry in 2016. He previously owned Freedom Communications, including the Orange Country Register. He now serves on the board of Rootz.ai, a technology company that provides insights about consumer retail shopping behavior.
6,VACCINE/COVID ISSUES & GLOBAL ISSUES
GLOBAL ISSUES
END
GLOBAL VACCINE/COVID ISSUES
Jaw-Dropping Fact: CDC Data confirms COVID Vaccine can reduce your Lifespan by at least 24 years | Entertainment | Before It’s News
Jaw-Dropping Fact: CDC Data confirms COVID Vaccine can reduce your Lifespan by at least 24 years
The long-term consequences of Covid-19 vaccination are now being realised…
A year ago, doubly vaccinated Australians were 10.72x more likely to catch Omicron than the unvaxxed. Now they are 20x more likely and the triply or more vaxxed are 35x more likely, as the latest NSW Health stats show (see below).
Meanwhile, the latest Cleveland Clinic Data and the latest US data analysed by Josh Stirling, founder of Insurance Collaboration to Save Livess and former #1 ranked Insurance Analyst, shows a really really disturbing trend.
The damage to health caused by each vaccine dose does not lessen over time. It continues indefinitely.
In fact, CDC All-Cause Mortality data show that each vaccine dose increased mortality by 7% in the year 2022 compared to the mortality in year 2021.
So if you have had 5 doses then you were 35% more likely to die in 2022 than you were in 2021. If you have had one dose then you were 7% more likely to die in 2022 than you were in 2021. If you are unvaxxed then you were no more likely to die in 2022 than you were in 2021.
By a concerned reader
The Cleveland Clinic Data
Here are the Covid infection rates for the 1st 98 days from 2022September12, when the bivalent vaccine was first offered to Cleveland Clinic employees. It was not mandated. It was offered.
So on 2022September12, 6199 employees were unvaxxed, 2359 were single jabbed, 13804 were double jabbed, 20798 were triple jabbed and 3538 were quad jabbed or penta jabbed with the original vaccine, which was designed against the Wuhan Hu1 reference virus, which was NOT isolated from a Human but was generated on a computer.
The results of their study, shown graphically above, demonstrate that the more doses of the original vaccine you took, the more likely you were to catch covid. In other words the original Covid vaccine is not merely ineffective against Omicron. It is actually anti-effective.
It is therefore not a vaccine against the present strain of Covid. It is an antivaccine. It damages your immune system in a dose-dependent manner. The more shots you took, the more damage you will have done to your immune system.
The writer first saw this from PHE Vaccine Surveillance reports and published his findings to PHE themselves AND on my website and in The Expose, on 2021October10.
‘The Science’ has now been established by the Cleveland Clinic. Genetic vaccines damage your immune system and make you not less likely but more likely to be infected with Covid.
Not only that but they have horrendous side effects on the cardiovascular, neurological and reproductive systems as well.
They are nothing short of mandatory progressive euthanasia.
CDC All-Cause Mortality Data shows that every year, every vaccinated person becomes more and more likely to die at a rate of 7% PER JAB PER YEAR. That is a slow-acting genetic poison.
If people were recovering from the 1st jab, then it would not be having precisely the same effect as the 5th jab (namely a 7% increase in mortality). This is the long term problem. People are not recovering from the damage done by the shots in terms of excess mortality.
So taking 2021 as the base line, a 5 dosed person would be 350% more likely to die in 2031 and 700% more likely to die in 2041 and 1050% more likely to die in 2051 than an unvaxxed person. It is just like compound interest.
Using this result, we can calculate the loss in life expectancy for a 30 year old male as follows… The life expectancy of a 30 year old unvaxxed male in the UK is around 80 years. So he can expect another 50 years of life.
In statistical terms, half of his cohort are dead by 80. The life expectancy of a 30 year old quintuply vaxxed person in the UK is 56 years. Assuming UK males respond to the vaccines in the same way as US people. Alternatively quintuply vaxxed US 30 year old males have likewise lost 24 years of life expectancy.
UK life expectancy data is from Statista. In the table below we add the extra 7% mortality per jab per year to the 2020 UK levels shown in Column2. So in a 5 year period, the average increase in expected mortality would be –
(0% + 35%)/2 = 17.5% from one jab
(0% + 70%)/2 = 35% from two jabs
(0% + 105%)/2 = 52.5% from three jabs
(0% + 140%)/2 = 70% from four jabs
(0% + 175%)/2 = 87.5% from five jabs
Life Expectancy for unvaxxed and 1-5 dosed UK males
1 jab robs 30 year old men of 13 years 2 jabs robs 30 year old men of 18 years 3 jabs robs 30 year old men of 20 years 4 jabs robs 30 year old men of 23 years 5 jabs robs 30 year old men of 24 years
That is the price you pay for trusting the NHS, trusting the government and trusting the BBC and the Main Stream Media.
That is what Media like the Expose have been trying to prevent.
NSW Vax status 2023Jan7
The population of New South Wales in Australia was 6,505,883 in 2022. the vaccination status is as follows…
There is the proof of immune system destruction by vaccination mediated spike proteins. We see the same pattern for Hospital admissions in Australia as we see for infection rates in Cleveland. The more shots you take the weaker your immune system becomes. And that is for the target of the therapy! The above graphs do NOT address any of the side effects.
Conclusion
The population of NSW in Australia is 6½ million people. They are a highly vaccinated group. Looking at the Australian Government data for the last 6 weeks of 2022 we see that.
1. Those with 1 or 2 doses are 20x more likely to be admitted to hospital with Covid than those with no doses. 2. Those with 3 or 4 or more doses are 35x more likely to be admitted to hospital with Covid than those with no doses. 3. Being unvaxxed provides 100% protection from having to go to the ICU. Being vaxxed gives you a 6 in 100,000 chance of being hospitalised in the ICU. 4. Vaccines are unsafe and extremely ineffective. 5. COVID-19 vaccination is putting unsustainable pressure on hospitals and ICUs in NSW and by implication all over the world. 6. The NHS in the UK will be destroyed unless vaccinations are banned immediately. It may already be too late. 7. The vaccines prevent herd immunity. Herd immunity will never be reached in the vaxxed. It has already been reached in the unvaxxed 8. The continuation of the pandemic is entirely caused by the anti vaccines.
The last time I looked at the data in NSW, for the last 6 weeks of 2021, the double vaxxed were 2.18x more likely to catch Omicron than the unvaxxed.
Here were are today, 12 months later in the last 6 weeks of 2022, and the double vaxxed are not 2.18x, but actually 20x more likely to catch the latest variant. And the triple jabbed are 35x more likely!
So there is the immune system destruction that I predicted in October2021. There is the progressive vaccine-mediated AIDS. These are farcical Monty Python kinds of numbers. As I understand it the Australian government is now going to stop classifying hospital data by vax status.
Talk about bury your head in the sand. In any event. It is too late. The cat is out of the bag. These figures are an accelerating immunological catastrophe.
The data we have analysed are for the disease that the vaccines are supposed to be protecting us from (Covid-19). They do not address the plethora of cardiovascular, neurological, immunological, reproductive and systemic side effects of the genetic anti vaccinations which cause further hospital admissions.
We have given control of our Health Services big pharma and they have destroyed those services. The day will come, if it has not already, when 50% of the patients in our hospitals are suffering from vaccine-mediated pathology.
The question then becomes, how many others in addition to the vaccine damaged are suffering from Big Pharma-mediated pathologies resulting from other Big Pharma ‘medications’?
The credibility and the viability of all health care worldwide is therefore entirely dependent upon the immediate cessation of genetic vaccination.
PUBLISHED: 10:10 EDT, 31 October 2023 | UPDATED: 12:02 EDT, 31 October 2023
Health officials in Florida have expressed concern over a sharp rise in cancer cases among young people.
Figures from the Florida Cancer Connect Collaborative showed rates for all cancer diagnoses jumped 15 percent among people in their 20s and 30s between 2010 and 2020 — three times faster than the national average.
Rates rose faster in women than men, with doctors warning patients were being diagnosed at later stages when their disease was more advanced and harder to treat.
Researchers can’t explain the rise but modern diets, antibiotic use and fungal infections have all been suggested asfactors — but that would not explain why Florida’s rates are rising so quickly.
Florida’s cancer cases among those aged 20 to 39 years have risen 15 percent in the decade from 2010 to 2020
+8
View gallery
The above map shows the percentage of diagnoses that are cancer by county in Florida. It highlights the area around Miami as having the highest rates
+8
View gallery
+8
View gallery
Among the Floridian women being diagnosed with breast cancer at a young age was Domenica Fuller, 29, from Miami, who was preparing for her wedding when she was told she had stage three breast cancer. She was going through chemotherapy when she attended her wedding
+8
View gallery
+8
View gallery
Madeline Mordarski, from Bradenton near Tampa, was diagnosed with stage one breast cancer in November 2022 just a week after her 32nd birthday. She had a lump on her breast
Breast cancer was the most common among younger adults and the leading cause of death from cancer, with colon cancer and leukemia among other cancers rising fastest.
Dr Mohamedtaki Tejani, an oncologist at the AdventHealth Cancer Institute, told the Orlando Sentinel: ‘Having people in the 20s and 30s [with cancer] was rare, and now it’s the norm.
‘And what’s really sad is… younger patients typically present with more advanced disease because it’s not on their radar.
Among young Floridian women diagnosed with breast cancer was Domenica Fuller, 29, from Miami, who had been preparing for her wedding in 2022 when she noticed a lump on her left breast.
‘I did a self-breast exam, I was taking a shower and I don’t know why I decided to do one but I did,’ she told NBC 6, ‘and I felt something hard on my left breast’.
‘It was just something that felt like a frozen grape in my breast.’
She was diagnosed with stage three ductal carcinoma, which means the breast cancer had spread to another area of her body making it harder to treat.
She went for surgery and four rounds of chemotherapy and radiation — which continued during her wedding — and has now been declared in remission.
Another patient in Florida was Madeline Mordarski, from Bradenton near Tampa, who was diagnosed with stage one breast cancer in November 2022 after discovering a lump on her left breast. This happened a week before her 32nd birthday.
She had a double mastectomy and several rounds of chemotherapy to treat the cancer and is now in remission.
She said that since her recovery she has gotten back into the dating scene, adding that ‘having survived cancer is like a vetting system for me’.
‘Guys that are uncomfortable with my candor and experience probably would have been the ones that would have run at a diagnosis,’ she said.
Other young women to suffer breast cancer include Amy Dowden, 33, from the UK, who was diagnosed with stage three breast cancer in May.
She found a lump on her breast while on her honeymoon with husband Ben Jones in April. Recently, she shared a photo of her shaven head as she received treatment.
The all-cancer diagnosis rate among people aged 20 to 39 years old in Florida was 79.4 cases per 100,000 people in 2010, data showed.
But this has risen by about two percent every year since 2010. In 2020, the rate was 91.9 cases per 100,000 people.
Among women under 50, the rate of diagnoses with all cancers rose from 118.6 to 131.5 over the same period — or up by 11 percent.
But for men under 50, the report found the rate remained stable at about 80 per 100,000 people.
states & in many rural areas they were barely enforced at all. Biden’s vaccine passport attempt was stopped cold by SCOTUS; Medical authoritarianism collapsed because we could not be shamed to comply
B Smith raises some interesting models here and as before, I like to share interesting thoughts, need not be I believe or adopt them, but this is how we learn.
Option A:
A multi-front war breaks out in the Middle East including nations like Iran, Syria, Lebanon, Jordan and Yemen. Israel faces serious failure. The US is dragged into the war, or, Israel uses its nuclear arsenal to destroy the resources (including populations) of enemy nations, leading to the possible involvement of China and Russia, and thus, the US is still dragged in.
Riots and terror attacks become a regular occurrence in the US, not just initiated by Muslim extremist infiltrators but also leftists who have attached themselves to the cause.
A draft is initiated which conservatives support in the hopes that it will help dissolve the riots. The draft will sink millions of weak, soft zennials (including women) into a bloody quagmire that they have no capacity to adapt to. Draft protests and riots become the norm, pushing conservatives to support even stricter enforcement.
Finally, martial law is announced, but the soldiers used on American soil to “protect us” from riots and terrorists will be primarily foreign nationals – Illegal migrants given an easy shot at citizenry if they join the military and put the boot down on dissenters, which they will gladly do because they have no cultural attachment to America or Americans. At this stage the constitution will essentially die.
Option B:
The war expands and Israel faces imminent destruction. Biden commits US naval forces to the fight along with ground troops, primarily Special Forces. He then calls for full deployment of US ground forces to the region, but in this scenario the majority of conservatives do not support the action, just as they did not support deployment to Ukraine.
Biden tries to implement a draft in order to force the momentum. Conservatives refuse to comply or allow their children to be sent to die in a foreign conflict. On this one issue, conservatives and leftists actually agree, even if it is for completely different reasons. The country is then hit with an endless series of terror attacks, each one presented as a reason why the public must back the war. Each attack is cheered by the leftist activists as an act of “decolonization.”
Conservatives see this ploy for what it is and still refuse to support the war, taking an “America First” position. Why fight overseas when it’s America that’s under duress?
Biden still attempts martial law. He offers automatic citizenship to illegal immigrants if they serve in the military and uses some of these troops as an occupation presence at home. Leftists don’t want to fight in the Middle East, but they do like to see migrants given easy citizenship and power. They defend the measure – They figure if the migrants fill the ranks of the military maybe they won’t be drafted.
Conservatives rebel, America enters either balkanization or civil war, or both. Patriots are accused of helping the enemies of the United States and are also labeled terrorists. From this point on, anything could happen.
I believe the Israeli trigger may be bigger than covid in terms of the potential global disaster and global tyranny that could unfold. If it continues to escalate and turns into a multi-regional conflict the chances of the fight coming back to America are high. Not just in terms of terrorism, but also in terms of civil unrest and war on our doorstep. If we support the war, martial law is a certainty. If we don’t support the war, martial law will be attempted but at least there are scenarios where it could fail.
Why? What is Cornell doing about this? This is insane and places like Cornell must stamp this out immediately; I would be angry if same was said about Palestinian students, so why attack Jews?
This antisemitism is catastrophic. The left and media and islamic leaders etc. have done a good job poisoning the minds of young people who have no clue about what happened in WW II and who was gassed and killed. Harvard, Cornell etc. must stamp this out, this hate. We must not stand silent.
EVOL NEWS
FDA: Covid Booster & Flu Vaccine Cause StrokesREAD MORE…
LATEST NEWS:
99-Year-Old Holocaust Survivor Receives 1,000 Anti-Semitic Messages On Daily Basis Since Hamas AttackRead more…Mexico throws troops, aid into Acapulco as hurricane death toll risesRead more…Pro-Hamas protesters beat Black Hebrew Israelites with Palestinian flags – in ChicagoRead more…Top White House Adviser Issues Warning on Wider WarRead more…Jordan asks US for Patriot air defences to protect its borders amid Gaza warRead more…Newsom’s stumble on basketball court in China shows how photo ops can go wrongRead more…Report: Groups Behind Pro-Hamas Protests Funded by George SorosRead more…President Says Indictments Allow Him To Retaliate Against Biden’s “Banana Republic’Read more…
IRS Chief Reveals: ‘For Americans Earning Under $400,000 Audits May Rise’IRS Commissioner Danny Werfel was questioned by lawmakers on Capitol Hill last week, suggesting the possibility that, contrary to its repeated promises, the agency might increase tax audits for Americans earning less than $400,000. The debate over whether the IRS plans to allocate some of the approximately $80 billion funding increase to enhance tax enforcement on individuals earning under $400,000 …READ THE FULL REPORT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
end
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES//USA AND GLOBE
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
end
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 7;30AM//OPENING AND CLOSINGS
EURO VS USA DOLLAR: 1.0657 UP 0.0044
USA/ YEN 150.74 UP 1.642 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2178 UP 0.0013
USA/CAN DOLLAR: 1.3828 DOWN .0002 (CDN DOLLAR UP 2 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED down 2.78 PTS OR 0.09%
Hang Seng CLOSED DOWN 293.88 PTS OR 1.69%
AUSTRALIA CLOSED UP 0.10% // EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG DOWN 293.88 PTS OR 1.69%
/SHANGHAI CLOSED DOWN 2.78 PTS OR 0.09%
AUSTRALIA BOURSE CLOSED UP .10%
(Nikkei (Japan) CLOSED UP 161.89 PTS OR 0.53%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 1999,75
silver:$23.24
USA dollar index early TUESDAY morning: 105.97 DOWN 6 BASIS POINTS FROM MONDAY’s CLOSE.
The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.3170
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.3391)
TURKISH LIRA: 28.29 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.942…VERY DANGEROUS
Your closing 10 yr US bond yield DOWN 4 in basis points from MONDAY at 4.8440% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.994 DOWN 4 in basis points ON THE DAY/12.00 PM
USA 2 YR BOND YIELD: 5.067 UP 3 BASIS PTS.
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: TUESDAY: CLOSING TIME 12:00 PM
London: CLOSED UP 4.25 POINTS or 0.06%
German Dax : CLOSED UP 84.62 PTS OR 0.57%
Paris CAC CLOSED UP 47,89 PTS OR 0.95%
Spain IBEX DOWN 2.00 PTS OR 0.02%
Italian MIB: CLOSED UP 403.66 PTS OR 1.48%
WTI Oil price 82.90 12: EST
Brent Oil: 86.56 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 93.41; ROUBLE DOWN 0 AND 55//100
GERMAN 10 YR BOND YIELD; +2.7720 DOWN 5 BASIS PTS
UK 10 YR YIELD: 4.528 DOWN 4 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0585 DOWN 0.0029 OR 29 BASIS POINTS
British Pound: 1.2155 DOWN .0009 or 9 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.5640% UP 1 BASIS PTS//
JAPAN 10 YR YIELD: .947%
USA dollar vs Japanese Yen: 151.51 UP 2.415 //YEN DOWN 242 BASIS PTS//
USA dollar vs Canadian dollar: 1.3864 UP .34 CDN dollar DOWN DOWN 34 basis pts)
West Texas intermediate oil: 81.16
Brent OIL: 85.20
USA 10 yr bond yield DOWN 1 BASIS pts to 4.873%
USA 30 yr bond yield UP 1 BASIS PTS to 5.029%
USA 2 YR BOND: UP 3 PTS AT 5.064%
USA dollar index: 106.46 UP 53 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 28.32 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 93.40 DOWN 0 AND 54/100 roubles
GOLD 1986.00
SILVER: 22.86
DOW JONES INDUSTRIAL AVERAGE: UP 123.91 PTS OR 0.38%
NASDAQ UP 74.28 PTS OR 0.52%
VOLATILITY INDEX: 18.14 DOWN 1.61 PTS (8.15)%
GLD: $184.09 DOWN 1.01 OR 0.55%
SLV/ $20.98 DOWN .36 OR 1.69%
end
USA AFFAIRS
USA TRADING IN GRAPH FORM
Stocks Spooked For 3rd Straight Month As WW3 Fears Spark Surge In USD, Gold, & Crypto (Not Oil)
TUESDAY, OCT 31, 2023 – 04:00 PM
Today saw wage inflation rising faster than hoped (hawkish for Fed) and consumer confidence worsened (with inflation expectations jumping).
Not exactly a great way to end the month.
But, as Financial Conditions tightened for the 3rd straight month in October, they failed to spook the economy…
Source: Bloomberg
Alongside a growing realization that the US was not in imminent danger of slipping into recession (and was in fact achieving one of its strongest growth quarters in the past 20 years), came another leg up in rates.
And, as Goldman’s Chris Hussey notes, as investor consensus around sustained US growth rises, the expectation that the Fed will soon need to CUT rates falls. And if the Fed is not going to cut rates in 2024 as much as many had previously anticipated, then rates may need to rise further towards the ultra-short term yield of the Fed Funds rate — currently 5.25%-5.50%.
Source: Bloomberg
Higher long-term rates are a headwind to valuations typically. And while the growth trajectory of the US economy has proven to be more robust than many anticipated, the forward outlook for growth is not as strong as what we have just experienced…
Source: Bloomberg
Small Caps tumbled over 7% in October, down for the 3rd month in a row and the worst monthly loss since Sept 2022. Nasdaq fell over 2% on the month, also its 3rd straight monthly loss in a row.
Notice stocks were initially bid on the Israel-Hamas war…
Source: Bloomberg
Utilities were the only sector to end October in the green with Energy and Consumer Discretionary the biggest losers…
Source: Bloomberg
The Long Bond rose over 30bps on the month – its 7th straight month of yield increases – but the short-end (2Y) was basically unchanged…
Source: Bloomberg
The yield curve (2s30s) steepened for the 4th month in a row to its highest since July 2022 (dis-inverting numerous times intra-month)…
Source: Bloomberg
Real yields (10Y) rose for the 6th month of the last 7 to their highest ‘since Lehman’ (Oct 2008)…
Source: Bloomberg
The dollar rallied for the 3rd straight month to its highest monthly close since Nov 2022…
Source: Bloomberg
Today’s price action in FX land was quite shocking…
USDJPY soared by more than 3 big figures from the overnight lows (weaker JPY vs USD) after the BoJ sent somewhat mixed messages with its YCC adjustment…
Source: Bloomberg
JPY is at its weakest since its spike in Oct 2022…
Source: Bloomberg
…although on a closing basis, this is the weakest yen relative to the dollar since June 1990…
Source: Bloomberg
EURUSD rallied early (despite weak GDP and lower inflation) but then humans looked at the reports and the euro dumped against the dollar…
Source: Bloomberg
Cryptos all soared in October with Solana outperforming….
Source: Bloomberg
This was Bitcoin’s best month since January 2023, surging above $35,000 for the first time since May 2022…
Source: Bloomberg
But Ethereum notably underperformed (its biggest monthly underperformance of bitcoin since Feb 2021)…
Source: Bloomberg
Spot Gold’s best month since March but futures saw their biggest month since July 2020, starting the ramp as Hamas attacked Israel from $1820 to $2020…
Oil (WTI futs) suffered its worst month since May (very close to its worst month since Nov 2021), but NatGas soared over 23% on the month – its biggest monthly gain since July 2022…
Source: Bloomberg
WTI erased all of the post-Israel attack gains and some…
Finally, some bigger picture malarkey. The US equity market continues to fight to maintain its extreme richness relative to GDP (Buffett’s favorite indicator), bouncing off its DotCom peak highs, and now back down to it – still massively over-valued…
Source: Bloomberg
Did Biden break the AI bubble?
Source: Bloomberg
Where to from here?
Happy Halloween!
EARLY MORNING TRADING/
end
EARLY THIS EVENING//
TUCKER CARLSON//NIGEL FARAGE
Tucker And Farage: Why Aren’t Muslim Countries Taking Muslim Refugees?
MONDAY, OCT 30, 2023 – 06:38 PM
Tucker Carlson sat down with former UK politician Nigel Farage to discuss where refugees from current conflicts in the Middle East should go, considering that there will be “hundreds of thousands, possibly millions” of them in the coming weeks, months and years.
Carlson posited a scenario in which Israel is asked to take in refugees who hate them.
“So if you were to suggest ‘well why isn’t Israel take them in, it’s their War’, the response you would get would be… ‘that’s insane these people are dangerous.'”
Likewise, a country with Christian roots such as the United States – which feels it should try to help people, should remember that “the duty of any government its primary duty is the Integrity of its own country and its citizens,” Carlson continued.
Carlson then observes that there’s a distinct lack of voices calling for countries with booming economies, such as China, to bear the refugee load. Why instead are Christian countries, historically bastions of refuge, the only ones saddled with this “obligation”?
“It’s interesting that no one ever says well China’s got the fastest-growing economy in the world they have an obligation to take in millions of refugees,” he said.
Farage noted the UK’s “great history in the UK of taking refugees,” noting that “they did very, very well in Commerce, Finance, the military in our country,” in terms of persecuted groups that the country has taken in throughout history.
But juxtapose this with the recent waves of refugees, and a disturbing pattern emerges. A significant number of these refugees, especially from regions like Gaza, are potential sympathizers of extremist groups like Hamas. Given the spate of extremist-driven incidents in the West, particularly in the UK, one can’t help but wonder: are Western countries knowingly or unknowingly sowing the seeds of their own societal unrest?
“So if you take any significant number from Gaza into our country, you will have a significant percentage of Hamas sympathizers and supporters among them,” said Carlson.
To which Farage replied: “And if anyone should take them Tucker, shouldn’t it be the Egyptians? Shouldn’t it be the Saudis? Shouldn’t it be their co-religionists in that part of the world? And how interesting that Saudi Arabia didn’t take a single person from Syria because they were worried of the impact it would have on Saudi Society. Right. And the same goes for Egypt.”
Marxism and ‘conservative cowardice.’
According to Farage, “We have allowed the virus of Marxism to take hold in our countries,” noting how Britain and the United States are being indoctrinated with a toxic blend of guilt over their colonial pasts, allegations of institutional racism, and a host of other divisive narratives. All the while, conservative voices, which could counter this downward spiral, remain silenced by a spineless media establishment.
“Conservative cowardice through politics and media has led to so very much of this,” he continued.
Yields Spike After Employment Costs Unexpectedly Re-Accelerate
TUESDAY, OCT 31, 2023 – 08:57 AM
US employment costs unexpectedly accelerated in the third quarter, heightening concerns that a strong labor market risks keeping inflation above the Fed’s target.
The employment cost index, a broad gauge of wages and benefits, increased 1.1% in the July-to-September period (above the 1.0% rise expected) after rising 1% in the second quarter.
Source: Bloomberg
Compared with a year earlier, the ECI was up 4.3%, the smallest annual advance since the end of 2021. Still, that’s well above the typical pace seen in the years before the pandemic.
Source: Bloomberg
While wage growth picked up slightly within private industry, salaries at state and local governments surged.
Source: Bloomberg
We already knew this was happening…
Bear in mind that while there are a number of other earnings metrics published more frequently – including average hourly earnings figures from the monthly jobs report – economists tend to prefer the ECI because it’s not distorted by shifts in the composition of employment among occupations or industries.
This prompted a spike higher across the yield curve with the short-end affected most…
Source: Bloomberg
Bidenomics and the Re-Inflation Reduction Act is buggering up The Fed’s cunning plan.
end
US Home Prices Rose For 5th Straight Month In August, But…
TUESDAY, OCT 31, 2023 – 09:13 AM
Home prices rose for the 5th straight month in August (the latest data released by S&P Global Case-Shiller today), up 1.01% MoM (better than the 0.8% rise expected).
Source: Bloomberg
The ongoing MoM rises pushed the YoY gain in home prices at America’s 20 largest cities up 2.16%, the most since January 2023. The National Home Price index rose even faster at 2.57% YoY.
Chicago, New York, and Detroit all saw major home price rises (+5.0%, +4.9%, and +4.8% YoY respectively). Las Vegas, Phoenix, and San Francisco remain lower YoY (-4.9%, -3.9%, -2.5% respectively).
But, judging by the resumption of the rise of mortgage rates since the Case-Shiller data was created, we would expect prices to also resume their decline…
Source: Bloomberg
Inventory is going nowhere, buyers and sellers are stuck (affordability for the former and the mortgage cost gap for the latter), and The Fed isn’t cutting rates any time soon. Not pretty…
end
Bidenomics crushing it!. Confidence weakens again
(zerohedge)
Conference Board Confidence Weakens Again In October, Inflation Expectations Jump
TUESDAY, OCT 31, 2023 – 10:13 AM
After reaching two year highs in July, The Conference Board consumer confidence survey has fallen for 3 straight months, declining from 104.3 (revised higher) in September to 102.6 in October (better than the 100.5 exp though). Both Present Situation (lowest since Nov 2022) and Expectations also fell (lowest since May), dragging the headline down to its lowest since May.
Source: Bloomberg
“Write-in responses showed that consumers continued to be preoccupied with rising prices in general, and for grocery and gasoline prices in particular,” said Dana Peterson, Chief Economist at The Conference Board.
“Consumers also expressed concerns about the political situation and higher interest rates. Worries around war/conflicts also rose, amid the recent turmoil in the Middle East. The decline in consumer confidence was evident across householders aged 35 and up, and not limited to any one income group.”
Assessments of the present situation were driven by less optimistic views on the state of business conditions, but consumers’ rating of current job availability held steady.
“Fewer consumers said that business conditions were good, and more said they were bad. Regarding the employment situation, slightly fewer consumers said that jobs were ‘plentiful’ compared to September, but the number saying jobs were ‘hard to get’ also declined. However, when asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), those responding ‘good’ rose, and those citing ‘bad’ were little changed. This suggests consumer finances remain buoyant in the face of elevated inflation.”
Expectations for the next six months stayed below the recession threshold of 80, reflecting a decline in confidence about future business conditions, job availability, and incomes. As Peterson noted,
“the continued skepticism about the future is notable given US consumers – at least through the third quarter of this year – continued to spend heavily on both goods and services.”
The labor market improved a smidge…
Source: Bloomberg
More problematically, average 12-month inflation expectations jumped notably amid ongoing complaints about higher prices…
Source: Bloomberg
More than two-thirds of consumers still said recession is ‘somewhat’ or ‘very likely’ in October. As Peterson highlighted,
“The fluctuating soundings likely reflect ongoing uncertainty given mixed buying plans. On a six-month moving average basis, plans to purchase autos and appliances rose while plans to buy homes—in line with rising interest rates—continued to trend downward.”
On a side-note, adding to recent business survey misery, Chicago PMI disappointed this morning, printing 44 vs 45 exp, below 50 (economic contraction) for the 14th straight month…
Source: Bloomberg
That is longest period of contraction since the dotcom bust in 2000/2001 (which was 16 months).
Bidenomics is crushing it!
end
DallasFed surrvey crashes
(zerohedge)
“More Like A Train Wreck Than A Soft Landing” – Dallas Fed Services Sector Survey Slumps In October
TUESDAY, OCT 31, 2023 – 12:40 PM
Growth in Texas service sector activity stalled in October, according to business executives responding to the Texas Service Sector Outlook Survey.
The revenue index, a key measure of state service sector conditions, fell eight points to 0.7, with the near-zero reading suggesting little change in activity from September.
Perceptions of broader business conditions continued to worsen in October, as pessimism notably increased.
The general business activity index dropped from -8.6 to -18.2, its lowest level since December of last year, while the company outlook index fell to -12.8, its lowest level in 16 months. The outlook uncertainty index jumped from 14.8 to 23.0.
Source: Bloomberg
Labor market indicators pointed to no growth in employment and a largely stable workweek. The employment index fell from 2.7 to 0.1, its lowest level in seven months. The part-time employment index fell five points to -3.4, while the hours worked index declined from 3.0 to -1.3.
All-in-all, a shitshow.
The comments from respondents were mixed with some seeing growth or hoping for it, but the following quotes should clarify just how most feel…
Overall activity is still stagnant due to overall economic conditions, uncertainty and interest rates.
Financial challenges remain. Access to capital will continue to limit growth in some sectors. Cash management has taken on a whole new meaning.
The economy seems to be steeply going down in the US and major global regions we serve, Europe, China and Asia.
For our engineering services, 2024 is projected to be a recession year.
The commercial real estate market really seems frozen in some ways. Financing is hard and deals don’t pencil at these rates.
We have seen our restaurant business suffer as some of our long-term customers have shut down facilities.
We are seeing an abnormal decrease in overall business activity that started in September and has continued into October.
People are nervous and not spending money, like in early spring. They are making choices, and we can see them holding back.
The downstream effects of overspending and the ripple effect to interest rates and inflation are having a negative impact on business. Decisions from prospects for new purchases are delayed, and current customers’ budgets are under intense scrutiny to continue purchases.
The geopolitical climate has increased uncertainty for the economy. Liquidity continues to be challenging. Interest expense is the single major expense facing lenders and borrowers.
Rapid increases in interest rates have frozen debt markets, meaning we cannot refinance properties. We are feeling the pain.
Something must give. Interest rates, a tightening of capital access, increasing geopolitical turmoil and more all add up to problematic conditions.
People are stuck where they are, not buying cars, houses, appliances, etc.
Headwinds are mounting. Interest expense due to floating rate credit, continuing increases in both labor and input costs, unsustainable construction costs and a softening economy are finally going to bring growth to a halt and likely result in a step back in GDP.
We are starting to see meaningful decreases in consumer spending.
We are hearing more businesses are having problems.
Finally, there was this comment that seemed to sum things up very well…
The general level of activity in the real estate market continues to slow while the 10-year rate continues to climb.
Higher interest rates have stifled this market, and we are afraid the worst is yet to come. Refinancing existing debt will be challenging due to the 500-600-basis-point increase in rates and the fact that regional banks are not lending. Most owners will not have the additional equity required to refinance their debt.
On the purchase and sale side of the market, we still have a re-pricing issue that needs to be resolved between sellers and buyers before assets can trade.
We are all trying to find something positive in this marketplace, but it is just not there.
This is looking more and more like a train wreck instead of a soft landing.
But, but, but Bidenomics?
III) USA ECONOMIC STORIES
The stupid carbon tax would create havoc to the typical family: paying $9,100 per year to comply with “dream house climate wish”
(zerohedge)
Bidenomics: Typical US Family Would Pay $9,100 To Comply With ‘Dream House’ Climate Wish List
MONDAY, OCT 30, 2023 – 10:40 PM
The Biden administration’s war on fossil fuels would cost the average American household more than $9,100 per year, according to a consumer watchdog.
The Alliance for Consumers took an infographic from the Biden White House titled “Biden’s Dream Home,” which proposes new energy standards for various appliances, including air conditioners, stoves, washing machines, while the Department of Energy’s so-called Unified List of appliances includes microwave ovens, dehumidifiers and pool pumps.
“Welcome to Biden’s Dream House, where the American dream just got significantly more expensive,” the group wrote on X.
According to the consumer watchdog, gas furnace efficiency standards which will “significantly reduce greenhouse gas emissions” for residences (according to the DOE), will cost consumers an estimated $494 additional on average, while dishwasher efficiency standards will cost somewhere between $50 and $400 to comply with, because the proposed rules will lead to drainage problems and clogging.
This year, the Department of Energy (DOE), the Environmental Protection Agency (EPA), and the Department of Transportation (DOT) have announced a range of proposed rules that will make household appliances more expensive and, as some experts contend, are designed to force Americans to give up their current appliances.
For example, under the DOE’s proposed natural gas stove rule, an estimated 90 percent of gas stoves would have to be redesigned, with reduced performance and raise the upfront cost of stove products by around $32 million per year. –Epoch Times
New rules for water heaters will cost consumers an average of $2,800 more, while everything from ceiling fans, washing machines and light bulbs will also add to that $9,100 total.
“It’s just spreading to more and more appliances. It seems that almost everything that plugs in or fires up around the house is either subject to a pending regulation or soon will be,” Ben Lieberman, a senior fellow at the Competitive Enterprise Institute, told Fox News.
“Consumers aren’t going to like any of it. These rules are almost always bad for consumers for the simple reason that they restrict consumer choice.”
end
UAW Strike Ends But Spiking Labor Costs Will Hamper Detroit For Years To Come
TUESDAY, OCT 31, 2023 – 02:00 PM
After the six week UAW strike ended officially yesterday, there’s one thing we know for sure: it’s going to put upward pressure on the price of vehicles for time to come. The six-week strike concluded on Monday when General Motors secured a provisional labor agreement with the UAW, following similar deals with Ford and Stellantis.
But as the Wall Street Journal pointed out on Monday, the labor costs are going to hamper the automakers for years to come. Ford has already come out and said the new deal will add $850 to $900 per vehicle in additional costs.
UAW President Shawn Fain, apparently unable to grasp the concept that if the automakers go bankrupt there’s a chance no one will have jobs, proudly proclaimed on Monday: “We wholeheartedly believe that our strike squeezed every last dime out of General Motors.”
He added: “When we return to the bargaining table in 2028, it won’t just be with the Big Three, but with the Big Five or Big Six.”
The Journal noted that by the contract’s 2028 expiration, most union workers at Detroit automakers would earn mid-$80,000s annually, excluding overtime. Initially resistant, companies eventually agreed to reinstate cost-of-living adjustments, relinquished by the UAW in 2009.
The union also secured several key victories, including the right to strike over plant closures, better pay for temp workers, and a shorter path to max wages. Additionally, the UAW won the reopening of a previously idled Illinois factory.
Auto executives entered these negotiations aware that they’d have to be more generous than in years past, given the tight labor market, inflation, and the UAW’s invigorated bargaining power.
Union leaders capitalized on this momentum to achieve significant contract improvements, positioning the union for further gains, including attempts to unionize non-union U.S. auto plants like those of Tesla, Toyota, and Volkswagen.
Ford’s CFO said: “We have work to do. We have to identify efficiencies. We have to increase productivity. It is a record contract.”
Pending votes in the upcoming weeks will determine the fate of preliminary deals that feature a 25% wage hike over a four-year period. Alongside cost-of-living adjustments, this would elevate the highest hourly wage for manufacturing employees to roughly $42.
The recent tentative agreements with UAW would mark the most lucrative contracts for auto workers since the 1960s, surpassing total wage increases from the last 22 years, the article notes. GM CEO Mary Barra said the deal would allow continued investment and job creation.
However, GM and Ford stock have declined, reflecting concerns beyond labor issues, like Ford’s missed Q3 earnings and GM’s autonomous driving setbacks.
Finally, both companies were also forced to scale back their electric vehicle (EV) investment plans, citing less-than-expected market demand and the need to re-engineer tech to cut costs.
Regulatory pressures still make abandoning electric transition plans untenable. Meanwhile, Tesla and Chinese automakers continue to gain ground. Industry analysts see clouds forming over traditional automakers, including the potential for profit margins to erode as consumer willingness to spend may decline.
In other words, the effects of higher labor costs have already hampered the companies’ stocks and slowed EV adoption, which is obviously counterintuitive to the left’s pro-union stance. And it won’t be long until this “record contract” the UAW is celebrating eventually winds up being the catalyst for layoffs, we’re sure.
END
Texas is doing its part in breaking Biden’s stupid border policy
(EpochTimes)
Texas Reclaims Island From Mexican Cartels In Fight To Secure Border
In the fight against Mexican cartels, Texas law enforcement recently took control of a dangerous island used by human traffickers.
The Epoch Times spoke to Texas Land Commissioner Dawn Buckingham, who identified Fronton Island as possibly “the most violent part” of the Texas–Mexico border. Belonging to Texas, Fronton Island is an island in the Rio Grande River. According to the General Land Office, “Fronton Island has been a hot spot for drug and human trafficking and dangerous cartel activity in the past couple of months.”
Ms. Buckingham further described the island as “a law enforcement-free refuge, one where cartels went for refuge when they needed it.” On Sept. 7, she issued a letter to the Texas Department of Public Safety, authorizing law enforcement access to the state-owned 170-acre island.
On an island where fully automatic weapons were once being fired regularly at night, as two violent cartels fought over its control, she said, “Law enforcement set foot on the island for the first time on Monday [Oct. 2].”
Ms. Buckingham cannot speak to the details of the operation, but said the island has been reclaimed by an elite force of Texas Rangers. “Clearing the island and taking away [the cartel’s] shelter, they are finding caches of weapons and more than I can’t speak fully about,” she added.
With a Texas flag planted on the island, Ms. Buckingham considers the operation a win against illegal immigration, drug trafficking, and human trafficking—but the scope of the problem exceeds this single region.
“Texas is still getting flooded with illegal immigrants,” she said. “We’re seeing millions and millions of folks coming across the border.”
To put this in perspective, she said, “The New York mayor is complaining about thousands of people coming [into his city], while Eagle Pass [in Texas] expects far more than that.” The numbers of migrants Eagle Pass has to brace for is “the equivalent of 2.7 million people illegally coming to New York every week.” In addition, she said, “these are not just family units, but a whole lot of young, military-aged males.”
“Recent surges of illegal immigrants are setting new records for crossing the border,” she said. “There are numerous videos circulating online showing thousands of people literally storming across the border,” she added. “This is literally an invasion.”
For those actually being processed by Border Patrol to enter the country, she said, their earliest court date to begin a legal process for their entry into the country would be the year 2027. “With a court date years in the future like this, many will just disappear,” she said.
Streaming Across the Border
According to Ms. Buckingham, “nearly everybody who comes who comes across the border has a wristband that indicates which cartel they belong to.”
“Everyone who comes across is owned by somebody, so you’re basically seeing the largest increase in slavery that this world has ever seen,” she said. “Many are now obligated to the drug trade or the human trafficking trade because the cartels are controlling who crosses the border.”
“With enough fentanyl across our border to kill every man, woman, and child in the United States, this has to stop,” she said, adding that “Texas is doing everything we possibly can to get this stopped.”
One of the things Texas is doing is “creating a criminal record for the people who come across and break our laws so that they’re easily identifiable,” she said. “Because of [President Joe] Biden’s policies, what we’re seeing right now is a lot of criminals who simply get turned back around to their country to turn around again and walk back across the border.”
“While Texas is fighting on every front and will continue to fight,” she said, “people need to seriously think about who they’re voting for in Congress and for president, because we need people who will enforce policies that stop illegal immigration, and the trafficking of drugs and people into our great country.”
In September alone, Border Patrol encountered a record 269,735 migrants at the border; 218,763 of whom were attempting to illegally enter the country. In fiscal year 2023, a record 169 people on the terror watch list were apprehended, and more than 25,500 pounds of fentanyl was seized at the border.
The White House and Department of Homeland Security did not return requests for comment.
END
Biden’s policies has delivered between $50 to 60 billion to Iran
By making concessions to the Mullahs who operate the world’s largest state sponsor of terror, the Biden Administration has directly or indirectly pumped more than $50 billion into their coffers enabling untold violence and international destabilization, threatening our our allies and implicating our energy supply chain – just as the Administration also instituted unprecedented handcuffs on U.S. energy independence.
It allowed the sale of Iranian oil worth approximately $40 billion.
It allowed the sale of electricity to Iraq, bringing in an estimated $10 billion to the regime.
Most recently, it released another $6 billion to Iran in Iranian cash. Fortunately for all, the current custodian of that cash, Qatar, has agreed to hold onto those payouts for now.
Despite universal opprobrium and hard sanctions on Iran, Yale University and The Johns Hopkins University have partnered with Iranian entities for research in country since 2013 on the U.S. taxpayer’s dime. Both universities hold massive endowments and don’t need the taxpayer’s help. Furthermore, both were recently criticized for not rebuking the Hamas terrorist attacks on Israel.
KEY BACKGROUND
Iranian Oil: The Mullahs increased oil exports by about 1.5 million barrels a day during Biden’s presidency according to The Committee to Unleash Prosperity founded by the economists Stephen Moore, Lawrence Kudlow, Arthur Laffer, and Steve Forbes:
“This has put roughly $40 billion more into the coffers of the Iranian government,” according to the committee’s investigation.
Loosening Iranian oil sanctions accompanied decline in domestic U.S. oil production by some 700 million barrels a year, thanks to the administrations resolute anti-fossil fuel polices.
The Wall Street Journal wrote, “there’s no question the U.S. decision to ease enforcement of oil sanctions against Iran has aided Israel’s enemies.”
By not enforcing oil sanctions, cash flowed to Tehran, which then had billions more to fund Hamas, Hezbollah and other terrorist groups.
The Organization of Petroleum Exporting Countries, or OPEC, reports Iran’s oil production jumped more than ten-percent from 2.6 million barrels a day in April, to 3 million in August.
Richard Goldberg of the Foundation for the Defense of Democracies points out that not enforcing Iranian oil sanctions also helps China: Iran’s oil increased production can’t be accomplished by sanction evasion alone.
“That number likely reflects a policy of non-enforcement of sanctions,” Goldberg said. “With the administration pursuing so-called ‘de-escalation’ policies with both Iran and China simultaneously, tacitly approving increased Iranian oil exports to China is one way the White House can offer concessions to both regimes.”
Reuters reported on the increased OPEC output: “Iran, which has been boosting supply despite U.S. sanctions, also pumped more, with output hitting the highest level since 2018.” That’s the year Washington re-imposed sanctions.
U.S. sanctions prevent Iraq from paying Iran directly for the gas, and Tehran had cut supplies, plunging already electricity-starved Iraq into blackouts. That lead to an Iraqi plan to barter with Iran, sending its oil as payment for Tehran’s natural gas.
$6 billion in unfrozen Iranian assets: The Wall Street Journal news side published an exclusive on October 8th, that since August, Iran helped plot the Hamas attack on Israel.
It’s impossible to miss that this took places as the Biden Administration unfroze $6 billion in disputed Iranian funds.
In the communique announcing the accord, the U.S. agreed to release five Iranians held in the U.S. and the $6 billion, in exchange for freeing five U.S. citizens illegally held in Tehran. For the Mullahcracy, crime pays — they got their guys and the money.
The funds at issue had been in South Korea. The money was transferred to Doha, Qatar, along with a fig leaf suggesting they will be expended only for “humanitarian” spending, such as food and medicine. Obviously, $6 billion for food and medicine frees up another $6 billion for terror and violence.
As The Hill said, “Iran has access to $6 billion that it did not have access to three months ago.”
Secretary of State Antony Blinken insists the money wasn’t used to attack Israel.
“Not a single dollar from that account has actually been spent to date,” Blinken said. “It’s very carefully and closely regulated by the Treasury Department to make sure that it’s only used for food, for medicine, for medical equipment.”
Somehow, the Biden Administration, which is expert in spending other people’s money, simply cannot understand the $6 billion boost it gave to terrorists.
U.S. federal grants spent in Iran: Our auditors at OpenTheBooks.com searched the federal checkbook for direct payments to entities in Iran and found that U.S. agencies have funded American universities doing work in Iran with Iranian institutions.
It’s unclear how this partnership happens when U.S. sanctions are in place.
From 2016 to 2021, the U.S. Department of Health and Human Services gave Johns Hopkins University $538,000 in the form of a mental health research grant for a project the university did in conjunction with Tehran Medical Science University – a subdivision of the Iranian government.
The description states a contract
“will cover effort for Dr. Larry Wissow [Johns Hopkins] to have the role of co-pi of the grant. Activities will include weekly meetings with Dr. Mojtaba the other co-pi and with Dr. Sharifi, the leader of the Iranian research team, to oversee the ongoing conduct of the project. Dr. Wissow will have primary responsibility for drafting analysis plans and for creating the de-identified data set that will be deposited with NIMH. He will also participate in drafting and submitting manuscripts developed from the study data.”
For perspective on its spending, Johns Hopkins’ spokeswoman Jill Rosen pointed to the university’s position of leading the nation in research spending for the 43rd consecutive year, with $3.2 billion spent in FY 2021.
The National Science Foundation also funded $17,000 for Yale University to do doctoral dissertation research in Iran.
Both universities have large endowments — $40.7 billion for Yale, and about $8 billion for Johns Hopkins — and Yale, among other Ivy League schools, is being criticized for not rebuking the Hamas invasion of Israel.
TROUBLING INTEL
U.S. officials won’t say that Iran “gave the green light” to Hamas to attack Israel, as reported in The Wall Street Journal, or otherwise was directly involved in the planning or funding of the Oct. 7 attack.
But U.S. National Security Advisor Jake Sullivan said in an October 10th White House press briefing:
“Iran is complicit in this attack in a broad sense because they have provided the lion’s share of the funding for the military wing of Hamas, they have provided training, they have provided capabilities, they have provided support, and they have had engagement and contact with Hamas over years and years. And all of that has played a role in contributing to what we have seen.”
Sullivan continued, “Now, as to the question of whether Iran knew about this attack in advance or helped plan or direct this attack, we do not — as of the moment I’m standing here at the podium — have confirmation of that.”
‘‘Iran has historically provided up to $100 million annually in combined support to Palestinian terrorist groups, including Hamas, Palestinian Islamic Jihad (PIJ), and the Popular Front for the Liberation of Palestine-General Command.’’
The U.S. knows Iran funds Hamas. Therefore: Freeing up $6 billion in a cash-for-hostages deal, trading $10 billion from Iraq for natural gas, or increasing Iranian oil output and revenues by $40 billion means America gave Iran billions in leeway it could use to empower Hamas, and indeed Iran’s entire terror network, to the detriment of our allies.
CRUCIAL QUOTE
“We know that there were meetings in Syria and in Lebanon with other leaders of the terror armies that surround Israel, so obviously it’s easy to understand that they tried to coordinate,” said Gilad Erdan, Israel’s ambassador to the United Nations. “The proxies of Iran in our region, they tried to be coordinated as much as possible with Iran.”
Bills On Israel, Ukraine ‘Dead On Arrival’ In Both House And Senate As Shutdown, Funding Battles Gear Up
TUESDAY, OCT 31, 2023 – 11:20 AM
As the nation celebrates Halloween, the House and Senate are engaged in some spooky late-stage Republic chaos over aid to Israel and Ukraine amid a backdrop of yet another government shutdown looming in two weeks.
In short,
The government will run out of money (again) in roughly two weeks, requiring Congress to act (again).
According to Democrats and GOP Neocons such as Mitch McConnell and Lindsey Graham, America needs to send billions of taxpayer funds to both Israel and Ukraine, and won’t consider any legislation that doesn’t combine the two.
House Republicans under newly minted Speaker Mike Johnson (R-LA), as well as a group of Senate Republicans, want Israel aid separated from Ukraine aid, while the Biden White House wants to jam a $105 billion foreign aid package ($14B to Israel, $60B to Ukraine) through Congress.
The House’s plan (if they can even pass it) to separate Israel aid from Ukraine aid is DOA in the Senate, while both the Senate’s combined package and the Biden admin’s package is DOA in the House.
The House and the Senate also need to pass 12 appropriations measures for 2024, or face a 1% across-the-board cut on defense and nondefense spending, per the debt ceiling bill passed earlier this year.
While Johnson is hoping to push this through in a Thursday vote in the House (with no guarantee it’ll pass), Senate Republicans and Senate Majority Leader Chuck Schumer (D-NY) – who love war and defending foreign borders, are a no-go, with Schumer calling it “insulting.”
As previously noted, while McConnell and other Senate neocons are in lockstep with Schumer and the Democrats over a massive funding package, a group of GOP Senators led by Roger Marshall (R-KS) have introduced legislation to provide a similar $14.3 billion in aid to Israelwithout Ukraine funding.
“If Democrats want [Ukraine aid] so badly, then shouldn’t Republicans get one of our priorities in a trade?” said Sen. J.D. Vance (R-OH) in a statement to Punchbowl News. “We shouldn’t just roll over and give Democrats everything they want, especially when it divides our conference so starkly.“
More via Punchbowl:
Vance said McConnell should force Democrats to accept policy changes at the southern border, before giving them enough GOP votes to pass a massive aid package for Israel, Ukraine and the Indo-Pacific. Many other Republicans agree with Vance. The White House’s request asks for more border security funding, but Republicans see this as a ruse. And Democrats say policy changes are a non-starter.
Sen. Rand Paul (R-Ky.), who has long called to offset new federal spending, praised the House’s approach to Israel aid and said anything else is “dead on arrival” in the Senate. Paul also called out McConnell by name, saying his fellow Kentucky Republican should simply accede to the House’s proposal.
“If Sen. McConnell thinks he’s going to pass a $100 billion conglomeration — what Biden wants — there’s no way it passes the House. Sen. McConnell’s not unaware of the way the House works,” Paul told us. “It’s a very precarious position the speaker is in. I think that’s all he can get through.”
There are some practical challenges tied to what Vance and Paul are pushing for. For one, a standalone Israel bill with offsets is a no-go for the Democratic-led Senate.
Meanwhile…
House Republicans are scrambling to pass 12 appropriations measures under Johnson, as they seek to stave off the impending shutdown and carve out deeper cuts on government spending. According to The Hill, GOP negotiators under former Speaker Kevin McCarthy (R-CA) had negotiated cuts the top-line level for the party’s government funding to $1.471 trillion earlier this year as part of the Fiscal Responsibility Act (FRA), however an intraparty compromise was later reached for $1.526 trillion as tensions simmered.
Passage of the bills would set up negotiations with the Senate, which faces its own challenges in regards to the 12 appropriations measures.
The House swiftly approved its first funding bill in weeks just days ago after the chamber reopened under Johnson, who won the gavel less than a week ago. The sprawling partisan energy plan is just one of eight bills that Republicans hope to pass out of the House by Nov. 17, when government funding is set to expire.
…
The party previously hoped to pass their 12 annual government funding bills during the summer, but those efforts fell short as then-Speaker Kevin McCarthy (R-Calif.) struggled to unify the party behind those bills amid calls for deeper cuts from conservatives. –The Hill
Shutdown imminent?
Congress has until Nov. 17 to pass yet more legislation to keep the lights on or risk a shutdown. The most likely course of action is that members on both sides of the aisle will pass a(nother) short-term funding bill at 2022 levels, which will buy time for more spending talks.
1% penalty
As The Hill further notes, part of the debt ceiling bill passed earlier this year includes a provision that if Congress crosses into 2024 without having passed its 12 funding bills, there will be a 1% cut across-the-board on defense and nondefense spending, which will take effect in April.
So, a total shitshow.
House Speaker Mike Johnson Vows To Continue Biden Impeachment Inquiry
Newly minted House Speaker Mike Johnson (R-La.) said President Joe Biden lied about his involvement in his family’s business affairs and engaged in a coverup, with the Louisiana Republican vowing that the impeachment inquiry into the president would continue as he now wields the power of the gavel.
Mr. Johnson made the remarks in an Oct. 26 interview with Fox News’ Sean Hannity, in which he said that removing President Biden from office is a real possibility in light of the evidence that has emerged suggesting that the president may have engaged in bribery.
“We have the receipts on so much of this now,” Mr. Johnson said, referring to evidence that includes bank records showing tens of millions of dollars paid to various shell corporations linked to Biden family members, including the president’s son, Hunter Biden.
While President Biden has denied any involvement in his son’s business affairs, the GOP-led House Oversight Committee has released over 20 examples of evidence tying the president to Hunter Biden’s business dealings.
“There’s a lot of smoke here, and we’re going to find out very soon how big the fire is,” Mr. Johnson said.
‘Influence Peddling’
Records obtained through the panel’s subpoenas to date reveal that the Bidens and their associates have received over $20 million in payments from a variety of foreign entities, with the committee listing these in a timeline of the Bidens’ “influence peddling.”
“It’s a real problem,” Mr. Johnson told Mr. Hannity, adding that the evidence that has emerged thus far is the reason the Republicans launched an impeachment inquiry into President Biden in mid-September.
“That’s the reason that we shifted into the impeachment inquiry stage on the president himself because if, in fact, all the evidence leads to where we believe it will, that’s very likely impeachable offenses,” he said. “That’s listed as a cause for impeachment in the Constitution—bribery and other high crimes and misdemeanors.“
“Bribery is listed there,” he continued, adding that the evidence the GOP has collected so far “looks and smells a lot like that.”
At the same time, Mr. Johnson threw cold water on the idea that Republicans would push for impeachment before all the evidence has been thoroughly vetted and a solid case is in place.
“I know people are getting anxious, and they’re getting restless, and they just want somebody to be impeached,” he said. But “we don’t do that, like the other team,” he said. “We have to base it upon the evidence and the evidence is coming together, we’ll see where it leads.”
“We’re going to engage in due process, because, again, we’re the rule-of-law party,” Mr. Johnson said.
President Biden’s Alleged Business Ties
While on the campaign trail, then-presidential candidate Mr. Joe Biden insisted that he had no role whatsoever in his son’s business dealings. He would later state publicly that he had no involvement in or knowledge of his family’s business affairs.
Mr. Johnson told Mr. Hannity that he believes the evidence that has emerged thus far shows that the president “lied directly multiple times about his involvement and knowledge of his son’s business dealings. We all know that now,” before adding that President Biden “has been involved in covering it up.”
The foundation of the president’s repeated denials has been shaken by a growing pile of evidence, however. First, there were the explosive revelations of the contents of the Hunter Biden laptop. Then, there were statements made by Hunter Biden’s former business associate Tony Bobulinski, and more recently a series of bombshell disclosures made by Devon Archer, former business partner of the president’s son.
A readout of some of Mr. Archer’s key revelations from July 31 closed-door testimony before Congress include that Hunter Biden put his father, who was then vice president, on speakerphone during business meetings over 20 times and that the elder Biden was put on the call to sell “the brand.” While Republicans saw Mr. Archer’s testimony as proof that the president lied when he denied involvement in his son’s business dealings, the president’s supporters insisted the conversations amounted to “casual” small talk and that, at most, Mr. Hunter Biden had peddled the “illusion of access” to his father rather than the real deal.
The White House downplayed the significance of Mr. Archer’s testimony, with spokesperson Ian Sams saying it failed to provide the kind of bombshell evidence of wrongdoing that Republicans claimed.
“It appears that the House Republicans’ own much-hyped witness today testified that he never heard of President Biden discussing business with his son or his son’s associates or doing anything wrong,” Mr. Sams said in a statement at the time.
But later, in an interview with Tucker Carlson, Mr. Archer said that President Biden’s claims of having no involvement in his son’s business dealings are “categorically false.”
“He was aware of Hunter’s business. He met with Hunter’s business partners,” Mr. Archer said. He insisted that the claim that the president was in no way involved in his son’s business affairs is “not factually right.”
More recently, congressional investigators found evidence of a $200,000 “direct payment” to President Biden from family members, with some Republicans saying this is further evidence of the president’s alleged involvement in his family’s business affairs.
“This summer, Joe Biden said: ‘Where’s the money?'” House Oversight Committee Chairman Rep. James Comer (R-Ky.) said in an Oct. 20 statement. “Well, we found some.”
Impeachment Inquiry Launched
In announcing the impeachment inquiry in mid-September, then-House Speaker Kevin McCarthy (R-Calif.) said President Biden lied about his knowledge of his family’s foreign business dealings. “Eyewitnesses have testified that the president joined on multiple phone calls and had multiple interactions, dinners, resulting in cars and millions of dollars into his son’s and his son’s business partners’ [accounts],” Mr. McCarthy said at a Sept. 12 press conference.
“We know that bank records show that nearly $20 million in payments were directed to the Biden family members, and associates, through various shell companies. The Treasury Department alone had more than 150 transactions involving the Biden family and other business associates that were flagged as suspicious activity by U.S. banks,” he added.
During the first impeachment hearing on Sept. 28, witnesses said that evidence uncovered thus far suggests misconduct on the part of the Biden family, though more is needed to support impeaching the president.
“While I believe that an impeachment inquiry is warranted, I do not believe that the evidence currently meets the standard of a high crime and misdemeanor needed for an article of impeachment,” Jonathan Turley, a law professor at the George Washington University Law School, testified.
In a memorandum to Republicans released ahead of the first hearing, GOP leaders noted that they’ve gathered evidence that the Biden family and their associates received more than $24 million from 2014 to 2019. President Biden served as vice president until early 2017.
The money was transmitted “through an exceedingly complex chain of transactions that made it difficult to track the flow of these funds,” they said in the memo.
National Archives Sued, Reveals Existence Of 82,000 Pages Of Joe Biden Emails Using Pseudonym
TUESDAY, OCT 31, 2023 – 06:55 AM
Thanks to Hunter Biden’s laptop, we learned in 2021 that while serving as vice president, Joe Biden used several private email accounts from which he would sometimes forward or receive government correspondence.
Now we know that three of them in particular, pseudonyms robinware456@gmail.com, JRBWare@gmail.com, and Robert.L.Peters@pci.gov, sent or received 82,000 pages worth of emails, according to the National Archives – far more than the 33,000 emails former Secretary of State Hillary Clinton illegally deleted from her private server.
The reason we know this is because the Archives refused to provide the information, and was sued via the Freedom of Information Act by the conservative nonprofit organization Southeastern Legal Foundation.
The emails themselves, which span an eight-year period, will purportedly take a considerable amount of time to produce due to the “scope” – and as such, “the volume of potentially responsive records is necessarily large.”
“NARA has completed a search for potentially responsive documents and is currently processing those documents for the purpose of producing non-exempt portions of any responsive recordson a monthly rolling basis,” reads a Monday filing in the lawsuit.
That said, according to the filing, NARA and the plaintiffs are searching for ways to narrow the request for records in order to get copies of the emails out in a more timely manner (like, before the 2024 election?).
Government officials use of private email for official business is discouraged under the law, and officials like Biden are required to preserve all government-related emails conducted on their private accounts under the Federal Records Act. The fact that NARA has such a large collection suggests Biden gave those emails to the nation’s history-preserving agency.
The total revealed by the Archives, however, is stunning in size, even dwarfing the total from the most infamous private email scandal in American history involving former Secretary of State Hillary Clinton, which also involved government business on Obama’s watch. -Just the News
There is no indication thus far from the National Archives that any of Biden’s emails contain classified information, however he is under investigation by Special Counsel Robert Hur related to the removal an improper storage of classified documents from his days as VP.
The stunning admission also comes as Republicans are seeking records related to the Biden family dealings in Ukraine and other countries, raising the specter of possibility that some, or many, of the 82,000 emails will bolster various Congressional corruption investigations.
Republicans have asked NARA for an un-redacted document that indicates that then-Vice President Biden took a call with the president of Ukraine, Petro Poroshenko, on May 27, 2016.
Republicans say the document was emailed to ‘Robert L. Peters’ with Hunter Biden copied.
At the time, top Ukrainian prosecutor Viktor Shokin was investigating oil company Burisma Holdings for corruption – the same company that Hunter was a sitting board member of.
Their demands come after Hunter Biden’s ex-business partner Archer testified before the House Oversight Committee earlier this month that Joe Biden’s ‘brand’ protected Burisma because ‘people would be intimidated to mess with them.’ –Daily Mail
Israeli military pushes deeper into Gaza as IDF targets Hamas anti-tank, rocket positions The Israeli military is continuing to expand its ground invasion of northern Gaza on Monday, targeting Hamas rocket and anti-tank positions. Israel continues to urge Palestinians in the area to flee south. More than 9,400 people have been killed in the war on both sides since the Oct. 7 Hamas terror attack. https://www.foxnews.com/live-news/october-30-israel-hamas-war?
Netanyahu rejects cease-fire with Hamas: ‘This is a time for war’ “Calls for a cease-fire are calls for Israel to surrender to Hamas, to surrender to terrorism, to surrender to barbarism. That will not happen,” Netanyahu said. “Ladies and gentlemen,” he continued. “Today we draw a line between the forces of civilization and the forces of barbarism. It is a time for everyone to decide where they stand. Israel will stand against the forces of barbarism until victory. I hope and pray that civilized nations everywhere will back this fight.” https://www.foxnews.com/live-news/october-30-israel-hamas-war?
Fox News anchor describes viewing ‘horrifying’ Hamas attack footage: ‘I will never forget’ FOX News anchor Martha MacCallum explains the horror of Hamas’ Oct. 7 attack after viewing unfiltered video of the event at the Israeli consulate. https://www.foxnews.com/video/6340152897112
@disclosetv: German Defence Minister sees danger of war in Europe; the military and society “must become fit for war,” Pistorius told ZDF.
Stocks rallied sharply on Monday for the exact reasons we articulated in our Monday missive: Conditioned traders played for the upward bias of Monday, expiry week, and October performance gaming. And as usual, the dopey financial media tried to rationalize the traders’ rally on a fundamental. On Monday the absurd justification for the equity rally was concern about the Gaza invasion was abating.
Stocks Climb, Oil Slides 3% as War Jitters Abate – BBG “Israel moved forces into Gaza over the weekend, but the operation isn’t as large as feared yet….” (Despite the above war headlines, ‘war jitters abate’ shows up! Who are we to believe?)
@JacquiHeinrich: Biden admin confirming reports it pushed Israel to restore communications in Gaza
@WhiteHouse: The restoration of communications in Gaza was critical. Aid workers, civilians, and journalists need to be able to communicate to each other and the rest of the world. Our Administration cared about this, worked on it, and are glad to see it restored. https://twitter.com/WhiteHouse/status/1718759564160479396
ESZs opened higher on Sunday night and then traded sideways in a tight range until the rally for the European opening appeared. ESZs hit a peak near 5:08 ET and then again traded sideways.
After a moderate retreat, the buying for the NYSE opening pump and dump commenced at 9:10 ET. ESZs rallied to a daily high of 4184.00 at 9:55 ET. The dump pushed ESZs down to 4152.00 at 10:44 ET. After trading in a wide range for about 2.5 hours, ESZs exploded higher at 13:15 ET. The rally persisted until ESZs peaked at 4197.00 near 15:24 ET. ESZs slid to 4184.00 at the NYSE close.
US Cuts Quarterly Borrowing Target to $776 Billion, Still Record – BBG 15:00 ET $852 billion for the period predicted in late July… JP Morgan had penciled $800 billion.
@RealEJAntoni: From Treasury: borrowed $1 trillion last quarter, expects another $776 billion this quarter (would be miraculous since it borrowed $500 billion this month alone), then $816 billion in Q1 ’24, so on track to borrow $3+ trillion this FY, as projected… Interest going to the moon: https://twitter.com/RealEJAntoni/status/1719088236587270427
USZs rallied from 109 9/32 to 109 21/32 on the release of the suspiciously/laughably lower Treasury quarterly borrowing. The rally quickly reversed into a sharply decline. USZs hit 109 2/32 at 15:53 ET.
The yen rallied sharply on a report that the BoJ might lift its 1% cap on JGB (Japan 10-yr.) yields.
Positive aspects of previous session. Stocks rallied sharply on pattern buying for Monday, Fed Week, and October performance gaming Fangs led the rally, a staple of performance gaming/manipulation.
Negative aspects of previous session USZs were -3/8 at the NYSE close. Trading was listless due to the big Treasury Auction on Wednesday
Ambiguous aspects of previous session What happens next in the Middle East?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open:Down; Last Hour: Down
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4159.08 Previous session S&P 500 Index High/Low: 4177.47; 4132.94
@BabakTaghvaee1:Iranians are the biggest non-Israeli supporters of #Israel’s war on #Hamas terrorists. This is an example of anti-regime & pro-Israel slogans written on the walls of Iranian cities. “Death to Khamenei. Israeli soldiers will take revenge for the eyes you blinded” was written on a wall in #Isfahan, the same city several Iranian-Israelis murdered by Hamas had been born there.
While some pundits, including The Big Guy claim Iran ordered or prodded Hamas to move against Israel to halt the Israel-Saudi Arabia peace talks, other pundits believe Iran did the dirty deed due to growing internal dissent in Iran – and Iranian mullahs believes their enemies are the provocateurs.
Senior intel officer James Fanell removed after controversial comments on China Fanell warned during a February public appearance that a recent Chinese amphibious exercise led naval intelligence to assess that China’s strategy was to be able to launch a “short, sharp war” with Japan, an unusually frank assessment about a closely watched region. His comments, which ran counter to the Pentagon’s talking pointson building ties to the increasingly assertive Chinese navy, were picked up by media outlets… https://t.co/Csjr2LFQDy
@IDF (Monday night ET): IAF fighter jets struck Hezbollah terrorist infrastructure including weapons, posts and sites in Lebanon. (Good think Street Middle East war angst is ‘abating!’)
McFlation: Revenue Soars After McDonald’s Hikes Prices On Monday, McDonald’s reported that revenue was up 14% on the quarter in what the burger company attributed to “strategic menu price increases.”…one branch in Darien, CT is charging as much as $18 for a Big Mac combo meal, which includes a medium soft drink and medium fries…That same combo in Times Square costs $13.69 – so it’s all over the place… “A ‘value meal’ at McDonalds now costs just as much as a meal at a lot of sit down restaurants like Applebee’s,” another Redditor claimed. “Remember when McMuffins were $2 for $3?” replied another?… https://www.zerohedge.com/political/mcflation-revenue-soars-after-mcdonalds-hikes-prices
Today – After the blatant manipulation to embellish woeful October equity performance, the usual suspects will scheme to hold onto those ill-gotten gains. Barring ugly news, the usual suspects will buy dips and try to push stuff higher to improve their very bad equity performance in October.
ESZs are -7.50 and USZs are -10/32 at 20:40 ET.
Expected Economic data: Two-day FOMC Meeting begins; Q3 Employment Cost Index 1.0%; Aug FHFA House Price Index 0.5% m/m; Aug S&P CoreLogic 20-City home prices 0.7% m/m & 1.6% y/y; Oct Chicago PMI 45; Oct Conference Board Consumer Confidence 100.0
S&P 500 Index 50-day MA: 4357; 100-day MA: 4405; 150-day MA: 4317; 200-day MA: 4241 DJIA 50-day MA: 33,941; 100-day MA: 34,285; 150-day MA: 34,008; 200-day MA: 33,806 (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 4425.18 triggers a buy signal Daily: Trender and MACD are negative – a close above 4225.30 triggers a buy signal Hourly: Trender and MACD are positive – a close below 4128.15 triggers a sell signal
How Trump’s Verbal Slips Could Weaken His Attacks on Biden’s Age – NYT Donald Trump, 77, has relentlessly attacked President Biden, 80, as too old for office. But the former president himself has had a series of gaffes that go beyond his usual freewheeling style. https://www.nytimes.com/2023/10/30/us/politics/trump-biden-age.html
@DeSantisWarRoom: Donald Trump forgot what state (city) he was in yesterday, prompting a handler to inform him that he was in Iowa (Sioux City not Sioux Falls, SD). Who does that remind you of? https://twitter.com/DeSantisWarRoom/status/1719130070487343158
@AnnCoulter: During a Sept. 15 speech in Washington… the former president warned that America was on the verge of World War II, which ended in 1945. [Trump] boasted about presidential polls showing him leading Mr. Obama, who is not, in fact, running for an illegal third term in office…. “We did it with Obama,” Mr. Trump said. “We won an election that everybody said couldn’t be won.” Last week, while speaking to supporters at a rally in New Hampshire, Mr. Trump praised Viktor Orban, the strongman prime minister of Hungary, but referred to him as “the leader of Turkey.”
@CWBChicago: Two men successfully tracked down an armed robbery crew that mugged two of their relatives this morning in Pilsen. Unfortunately, the robbery crew shot them. https://t.co/GuFBFS51rl
AM2023.28
harveyorganblog.com 
[…] by Harvey Organ, Harvey Organ Blog: […]
LikeLike