Shanghai Gold Benchmark Price

USD oz

AM2022.97

PM2026.08

Historical SGE Fix

PREMIUM SHANGHAI OVER NY: $46

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Bitcoin morning price:, 35,238 UP 364 DOLLARS

Bitcoin: afternoon price: $35,051 UP 177. dollars

Platinum price closing $911.50 DOWN $25.95

Palladium price; $1105.95 DOWN $27.40

END

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Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading

I will now provide gold in Canadian dollars, British pounds and Euros/4: 15 PM ACCESS

*CANADIAN GOLD: $2,710.28 DOWN $8.22 CDN dollars per oz( * NEW ALL TIME HIGH 2,782.61//OCT 272023)

*BRITISH GOLD: 1602.94 DOWN 5.95 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17) OCT 2/2023

*EURO GOLD: 1845.64 DOWN 10.34 euros per oz //* (NEW *ALL TIME HIGH/CLOSING//1898.24)//high.* OCT 27.2023

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,991.500000000 USD
INTENT DATE: 11/03/2023 DELIVERY DATE: 11/07/2023
FIRM ORG FIRM NAME ISSUED STOPPED

435 H SCOTIA CAPITAL 4
624 H BOFA SECURITIES 4
737 C ADVANTAGE 5 6
878 C PHILLIP CAPITAL 1

TOTAL: 10 10
MONTH TO DATE: 1,437

JPMorgan stopped 0/10 contracts.

FOR NOV.:

GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 10 NOTICES FOR 1000 OZ or 0.0311 TONNES

total notices so far: 1437 contracts for 143,700 oz (4.4696 tonnes)

FOR NOV:

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

total number of notices filed so far this month : 306 for 1,530,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD DOWN $9.90//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: THE GLD/ A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD

INVENTORY RESTS AT 863.24 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 6 CENTS AT THE SLV// NO CHANGES IN SILVER INVENTORY AT THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 440.631 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY MEGA HUMONGOUS SIZED 2709 CONTRACTS TO 130,301 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS STRONG SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.41 GAIN IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD CONSIDERABLE SPEC SHORT COVERING EPISODE IN FRIDAY’S COMEX TRADING.. TAS ISSUANCE WAS A HUMONGOUS SIZED 2394 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 2394 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 $0.41). AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUGE SIZED GAIN OF 2814 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 SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS( 105 CONTRACTS FOR NIL OZ) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.430 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 65,000 OZ QUEUE JUMP +

//NEW STANDING IS THUS 1.980 MILLION OZ

//HUGE SIZED COMEX OI GAIN/ SMALL SIZED EFP ISSUANCE/VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 2394 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED A MAMMOTH 997 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 NOV:

TOTAL CONTRACTS for 4 days, total 1017 contracts: OR 5.085 MILLION OZ (254 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 5.085 MILLION OZ

LAST 23 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT: 94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

JAN 2022-DEC 2022

JAN 2022// 90.460 MILLION OZ

FEB 2022: 72.39 MILLION OZ//

MARCH 2022: 207.140 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT. 29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023/// 53.070 MILLION OZ //FINAL

FEB: 2023: 100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL 118.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV. 5.085 MILLION OZ (GOING TO BE QUITE SMALL THIS MONTH)

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2709 CONTRACTS WITH OUR GAIN IN PRICE OF $0.41 IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL 105 EFP ISSUANCE CONTRACTS: 105 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 1.432 MILLION OZ FOLLOWED BY TODAY’S 65,000 OZ QUEUE JUMP

NEW STANDING 1,980,000 OZ/// /// WE HAVE A HUGE SIZED GAIN OF 2814 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 2394 CONTRACTS//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION. THE NEW TAS ISSUANCE FRIDAY NIGHT A HUGE (2394) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

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

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 4935 CONTRACTS TO 485,916 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 255 CONTRACTS

WE HAD A STRONG SIZED INCREASE IN COMEX OI ( 4935 CONTRACTS) WITH OUR $5.65 GAIN IN PRICE//FRIDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR NOV. AT 4.3514 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1000 OZ QUEUE JUMP + TODAY’S 190 CONTRACT ISSUANCE OF EXCHANGE FOR RISK FOR .5919 TONNES // ALL OF..THIS HAPPENED WITH OUR $5.65 GAIN IN PRICE WITH RESPECT TO FRIDAY’S TRADING.WE HAD A VERY STRONG SIZED GAIN OF 8,821 OI CONTRACTS (27.43 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3886 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 486,171

IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8821 CONTRACTS WITH 4935 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 3886 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 8821 CONTRACTS OR 27.43 TONNES. WE HAD ANOTHER OF THOSE STRANGE EXCHANGE FOR RISK = 190 CONTRACTS OR .5919 TONNES.WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A HUGE 4,621 CONTRACTS)

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3886 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (4935) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 8821 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR NOV. AT 4.3514 TONNES FOLLOWED BY TODAY’S 1000 OZ QUEUE JUMP: NEW STANDING 4.5567 TONNES + .5919 TONNES EXCHANGE FOR RISK TODAY + .2673 EX. FOR RISK PRIOR: TOTAL EXCHANGE FOR RISK .8585 //THUS NEW TOTAL FOR GOLD STANDING: 5.4152 TONNES // /// 3) ZERO LONG LIQUIDATION AND SOME TAS LIQUIDATION BUT WE HAD SOME SPEC SHORT COVERINGS DURING THE COMEX SESSION //4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: HUGE T.A.S. ISSUANCE: 4621 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

NOV

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

TOTAL EFP CONTRACTS ISSUED: 16,923 CONTRACTS OR 1,629,300 OZ OR 52.63 TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 4230 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 4 TRADING DAY(S) IN TONNES 52.63 TONNES

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

THUS EFP TRANSFERS REPRESENTS 52.63/3550 x 100% TONNES 1.49% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

FEB : 171.24 TONNES ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:. 276.50 TONNES (STRONG AGAIN/

APRIL: 189..44 TONNES ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)

JUNE: 247.54 TONNES (FINAL)

JULY: 188.73 TONNES FINAL

AUGUST: 217.89 TONNES FINAL ISSUANCE.

SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC. 175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022 247.25 TONNES //FINAL

FEB: 196.04 TONNES//FINAL

MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)

MAY: 247.44 TONNES FINAL//

JUNE: 238.13 TONNES FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC: 185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV. 52.63 TONNES//

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 2709 CONTRACTS OI TO 130,301 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 SMALL 105 CONTRACTS

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

DEC 105 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 105 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 2709 CONTRACTS AND ADD TO THE 105 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A MEGA HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2814 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 14.07 MILLION OZ

OCCURRED WITH OUR $0.41 GAIN IN PRICE …..(SOME ATTEMPTED SHORT COVERINGS)

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING//SUNDAY NIGHT

SHANGHAI CLOSED UP 27.61 PTS OR 0.91% //Hang Seng CLOSED UP 302.47 PTS OR 1.71% /The Nikkei CLOSED UP 758.59 PTS OR 2.37% //Australia’s all ordinaries CLOSED UP 0.28 % /Chinese yuan (ONSHORE) closed UP AT 7.2698 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.2791 /Oil DOWN TO 81.61 dollars per barrel for WTI and BRENT UP AT 85.82/ Stocks in Europe OPENED ALL RED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

a)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/

OUTLINE

3 CHINA

OUTLINE

4/EUROPEAN AFFAIRS

OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES

OUTLINE

7. OIL ISSUES

OUTLINE

8 EMERGING MARKET ISSUES

9. USA

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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 4935 CONTRACTS TO 485,916 WITH OUR GAIN IN PRICE OF $5.75 ON FRIDAY TRADING.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 3886 EFP CONTRACTS WERE ISSUED: : DEC 3886 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3886 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED TOTAL OF 8821 CONTRACTS IN THAT 3886 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 4935 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $5.75//FRIDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A HUGE 4621 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 (4.7373 TONNES (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: 4.473 TONNES + 2643 (EX. FOR RIS) = 4.7373 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $5.75) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUGE GAIN OF 9,076 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A SOME T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING. THE T.A.S. ISSUED ON FRIDAY NIGHT WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. IT DID HAVE SOME SPECULATOR SHORT COVERING WITH THE MASSIVE PRICE INCREASE.

WE HAVE GAINED A TOTAL OI OF 27.43 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR OCT. (4.3514 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1000 OZ QUEUE JUMP //NEW TOTALS STANDING:4.5256 TONNES +190 CONTRACTS EX. FOR RISK FOR .5919 TONNES = NEW EXCHANGE RISK TOTALS= .8585 EXCHANGE FOR RISK: NEW TOTAL FOR GOLD STANDING: 5.4192 TONNES + ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $5.75. 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 255 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST

NET GAIN ON THE TWO EXCHANGES 8821 CONTRACTS OR 882,100 OZ OR 27.43 TONNES.

Estimated gold volume today:// 154,139 poor

final gold volumes/yesterday 245,002/ fair

//speculators have left the gold arena

//NOV 6

/ /// THE NOV. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	10,159.717oz OZ Brinks (129 kilobars) Int. Delaware (187 kilobars) .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	10 notice(s) 1000 OZ 0.0311 TONNES
No of oz to be served (notices)	28 contracts 2800 oz 0.0872 TONNES
Total monthly oz gold served (contracts) so far this month	1437 notices 143700 OZ 4.4696 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposit:

total dealer deposits: 0 oz

customer deposits: 0

total customer deposits: nil oz

we had 2 customer withdrawals

i) Out of Brinks: 4,147.480 oz (129 kilobars)

ii Out of Int. Delaware: 6012.237 oz (187 kilobars

total withdrawals 10,159.717 oz

Adjustments; 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.

For the front month of NOVEMBER we have an oi of 38 contracts having LOST 7 contracts. We had 17 contracts filed on FRIDAY, so we gained 10 contracts or an additional 1000 oz will stand for delivery at the comex in this NON active delivery month of NOVEMBER. 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 LOST 810 contracts DOWN to 364,465 contracts.

JAN. gained 0 contracts REMAINS AT 36 contracts.

We had 10 contracts filed for today representing 1000 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 10 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 notice(s) was (were) stopped received by J.P.Morgan//customer account and 0 notice(s) received (stopped) by the squid (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the NOV. /2023. contract month, we take the total number of notices filed so far for the month (1437 x 100 oz ), to which we add the difference between the open interest for the front month of NOV. (38 CONTRACTS) minus the number of notices served upon today 10 x 100 oz per contract equals 146,500 OZ OR 4.5567 TONNES + .5916 TONNES EX FOR RISK TODAY/.2673 EX. FOR RISK/PRIOR//TOTAL EXCHANGE FOR RISK =.8585// THUS TOTAL STANDING: 5.4152 TONNES

thus the INITIAL standings for gold for the NOV. contract month: No of notices filed so far (1437) x 100 oz + (38) {OI for the front month} minus the number of notices served upon today (10) x 100 oz) which equals 146,500 oz standing OR 4.5567 TONNES + .8585 EX FOR RISK = 5.4152 TONNES

TOTAL COMEX GOLD STANDING: 5.4152 TONNES WHICH IS HUGE FOR AN ACTIVE BUT GENERALLY WEAK DELIVERY MONTH. (OCT). Somebody is after a considerable amount of gold from the comex.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

total pledged gold: 1,880,539.272 OZ 58,49 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 19,887,388.319 OZ

TOTAL REGISTERED GOLD 10,059,164.184 (312.882 tonnes)..

TOTAL OF ALL ELIGIBLE GOLD: 9,828,224,135 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,178,525(REG GOLD- PLEDGED GOLD) 254.386 tonnes//dropping like a stone

END

SILVER/COMEX

NOV 6

//2023// THE NOV 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	276,153.130 oz Brinks CNT .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	2 CONTRACT(S) (10,000 OZ)
No of oz to be served (notices)	90 contracts (450,000 oz)
Total monthly oz silver served (contracts)	306 Contracts (1,530,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposit: 0

total: nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 0 deposits customer account:

total customer deposit nil oz

JPMorgan has a total silver weight: 134.441 million oz/267.012 million or 50.24%

Comex withdrawals 2

i) Out of Brinks 101,155.270 oz

ii) Out of CNT 174,997.860 oz

total: 276,153,130 oz

adjustments: 0

TOTAL REGISTERED SILVER: 38.327 MILLION OZ//.TOTAL REG + ELIGIBLE. 267.012 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:

silver open interest data:

FRONT MONTH OF NOV /2023 OI: 92 CONTRACTS HAVING LOST 45 CONTRACT(S). WE HAD 58 NOTICES FILED ON FRIDAY, SO WE GAINED 13 CONTRACTS OR AN ADDITIONAL 65,000 OZ WILL STAND FOR SILVER IN NOVEMBER

DEC. GAINED 1121 CONTRACTS TO STAND AT 93,816 .SOMEBODY IS AFTER BOATLOADS OF PHYSICAL SILVER

JANUARY GAINED 23 CONTRACTS TO STAND AT 627

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

Comex volumes// est. volume today 47,021// poor

Comex volume: confirmed yesterday 84,271 good

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 306 x 5,000 oz = 1,530,000 oz

to which we add the difference between the open interest for the front month of NOV. (92) and the number of notices served upon today 2 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the NOV/2023 contract month: 306 (notices served so far) x 5000 oz + OI for the front month of NOV (92) – number of notices served upon today (2 )x 500 oz of silver standing for the NOV contract month equates to 1.980 MILLION OZ

There are 38.327 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!

NOV 6/WITH GOLD DOWN $9.90 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 1.73 TONNES OF GOLD INTO THE GLD/ / // // INVENTORY RESTS AT 863.24 TONNES

NOV 3/WITH GOLD UP $5.75 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: / // // INVENTORY RESTS AT 861.51 TONNES

NOV 2/WITH GOLD UP $6.55 TODAY:BIG CHANGES IN GOLD INVENTORY AT THE GLD: A HUGE DEPOSIT OF 2.02 TONNES OF GOLD INTO THE GLD/ // // INVENTORY RESTS AT 861.51 TONNES

NOV 1/WITH GOLD DOWN $6.15 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD // // INVENTORY RESTS AT 859.49 TONNES

OCT 31/859.49 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

GLD INVENTORY: 863.24 TONNES

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

NOV 6/WITH SILVER DOWN 6 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: //// //INVENTORY RESTS AT 440.631 MILLION OZ

NOV 3/WITH SILVER UP 41 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 0.638 MILLION OZ OF SILVER FROM THE SLV///// /// /INVENTORY RESTS AT 440.631 MILLION OZ

NOV 2/WITH SILVER UP 11 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.924 OZ OF SILVER FROM THE SLV///// /// /INVENTORY RESTS AT 439.993 MILLION OZ

NOV 1/WITH SILVER DOWN 11 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 916,000 OZ OF SILVER FROM THE SLV///// /// /INVENTORY RESTS AT 441.917 MILLION OZ

OCT 31/442.833 MILLION OZ///INVENTORY

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

CLOSING INVENTORY 440.631 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

end

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

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

end

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES//

$2,000 Gold Is Just The Beginning. Here’s What Happens Next…

MONDAY, NOV 06, 2023 – 12:30 PM

Authored by Simon Black via SovereignMan.com,

Public Law 93-373 was supposed to be so boring that Congress didn’t even bother to give it a name.

You know how most laws passed by Congress have some fancy name– like the “Inflation Reduction Act” or the “USA PATRIOT Act” or some such nonsense?

Well, on November 7, 1973, US Senator James Fulbright introduced a very short bill– it was only ONE page– that didn’t even have a name. But Fulbright’s unnamed bill ended up being one of the most important pieces of legislation in US history.

By the time Fulbright introduced his bill, it had been two years since the legendary “Nixon Shock” of 1971. That was when US President Richard Nixon implemented wage and price controls, and canceled the US dollar’s convertibility into gold.

Nixon famously promised the American public that there wouldn’t be any negative consequences from his actions. Yet inflation hit 3% the following year, in 1972. Then 4.7% in 1973. Then 11.2% in 1974.

Simultaneously, gold prices around the world were surging… from $35/ounce before the Nixon Shock, to more than $170 in 1974.

But individual Americans weren’t allowed to benefit from those gains thanks to a forty year old executive order that had been signed in 1933 by then President Franklin Roosevelt.

Roosevelt’s Executive Order 6102 criminalized the private ownership of more than $100 worth of gold in the United States. Roosevelt also gave Americans just 25 days to turn over their gold to the Federal Reserve… or else face up to ten years in prison.

Naturally, plenty of Americans were outraged, and a number of lawsuits were filed claiming that Roosevelt’s order was unconstitutional.

Roosevelt was rightfully worried that the Supreme Court would overturn his order. And at a certain point he considered packing the court, i.e. appointing several sympathetic judges to the Supreme Court to ensure his victory. He also considered issuing another order which would make it illegal to sue the federal government.

Fortunately for Roosevelt, however, he didn’t have to implement any of those actions; the Supreme Court very narrowly ruled in his favor, and his Executive Order stood as law of the land for four decades… until Senator Fulbright’s no-name law was finally passed on August 14, 1974.

It went into effect the following year, and Americans were suddenly free once again to exchange their rapidly-depreciating US dollars for gold.

Unsurprisingly, gold prices started rising dramatically in the second half of the decade… from about $180 in 1975, to a whopping $850 in January 1980.

And the declining dollar was just one reason for gold’s popularity; remember, the United States suffered a deluge of troubles during the 1970s and early 1980s.

The world found out that the US President was a criminal during the Watergate scandal of 1974. Then there was the humiliating US withdrawal from Vietnam in 1975, complete with a helicopter evacuation of the American embassy in Saigon.

Iran seized 52 US citizens in 1979 and held them hostage for more than a year. Inflation raged, peaking at 13.6%. The economy stagnated and fell into recession. Troubles in the Middle East (including conflict with Israel) led to energy shortages and rising fuel prices.

Civil unrest and ‘mostly peaceful’ protests were a constant problem in the 70s and 80s.

Meanwhile, criminals rampaged across American cities, and the murder rate soared. Major cities like New York, LA, and Chicago became synonymous with violent crime.

The world stopped making sense. And gold became a safe haven from that chaos.

There’s an old saying (originally a Danish proverb) suggesting that if history doesn’t repeat, it certainly rhymes. And I think it’s obvious that we’re facing many of the same challenges today.

There are major problems in the Middle East. Energy is becoming scarce (especially in Europe). The US military suffered a humiliating withdrawal from Afghanistan. Civil unrest and crime rates are totally unacceptable. Inflation continues to rage. And the President, a.k.a. “the Big Guy” appears suspicious A.F.

Just like in the 1970s, gold represents a safe haven from this chaos. And even though it’s hovering at a near-record around $2,000, I think that there is still a long way for gold to rise.

The US national debt is now $33.7 trillion; that’s up more than HALF A TRILLION just in the month of October.

The people in charge have absolutely zero fiscal restraint. Zero responsibility. Zero sense of how destructive their actions are. They spend money and go deeper into debt as if there will never be any consequences, ever, until the end of time. They’re disgustingly ignorant, and dangerous.

The truth is that there are serious consequences to all of this debt. And we don’t have to guess what they are.

The Congressional Budget Office is already projecting that, by 2031, the US government will spend 100% of its tax revenue just on mandatory entitlements (like Social Security) and interest on the debt.

This means that, after 2031, the funding for literally everything else in government– from the US military to the light bill at the White House– will have to be funded by more debt.

That’s only 7 years away.

Then, two years later in 2033, Social Security’s primary trust fund will run out of money; this will cost the government an additional $1 trillion in additional spending each year to keep the program running. Naturally they’ll have to borrow that money too.

Eventually the national debt will become so large that simply paying interest each year will consume more than 100% of tax revenue.

The Federal Reserve will most likely attempt to bail out government by creating trillions upon trillions of dollars. But just as we saw over the past few years, such actions will most likely result in much higher inflation.

Disgusted with their financial circumstance, voters across America will likely turn to Socialist politicians who blame all the problems on the evils of capitalism, rather than their own incompetence. And with a majority of leftists running the country, they’ll only make things worse.

I also anticipate more conflict in the world, thanks in large part to the continued decline of America’s stature and reputation for strength.

It’s also quite likely that the US dollar could lose its royal status as the world’s dominant reserve currency by the end of the decade.

I don’t necessarily believe that the dollar will simply vanish from global trade. But it won’t be “King” dollar anymore. Perhaps more like “Earl” or “Viscount” dollar, alongside other currencies and exchange mechanisms– including gold.

In fact we could easily see central banks around the world ditching their US dollars and loading up on gold as part of a new, de-dollarized global financial system.

This could potentially trigger trillions of dollars worth of capital inflows into the gold market, causing a surge in gold prices.

And these are just some of the reasons why gold could still have a long, long way to rise from here.

Bear in mind that I’m not thinking about the gold price next month, or even next year. I think long-term, and my views on gold are based on trends that will likely continue to unfold over the next decade.

I’m not a ‘gold bug’. I don’t have a fanatical view about anything other than my own children. I’m not a gold speculator either.

But it’s obvious to me that in an upside down world where there are such obvious long-term threats to the US dollar, it makes sense to look for real stores of value.

And that’s why $2,000 gold could just be the beginning of a much bigger story.

PS: If you can see what is happening, and where this is all going, you understand why it is so important to have a Plan B. That’s why we published our 31-page, fully updated Perfect Plan B Guide, which you can download here.

end

5 a. IMPORTANT COMMENTARIES ON COMMODITIES: ORANGE JUICE

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN: CLOSED UP AT 7.2698

OFFSHORE YUAN: UP TO 7.2791

SHANGHAI CLOSED UP 27.61 PTS OR 0.91%

HANG SENG CLOSED UP 302,47 PTS OR 1.71%

2. Nikkei closed UP 758.59 PTS OR 2.37%

3. Europe stocks SO FAR: ALL RED

USA dollar INDEX DOWN TO 104.75 EURO RISES TO 1.0751 UP 27 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +.868 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.61/JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

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 +2.6965***/Italian 10 Yr bond yield DOWN to 4.526*** /SPAIN 10 YR BOND YIELD DOWN TO 3.743…**

3i Greek 10 year bond yield FALLS TO 3.969

3j Gold at $1984.45 silver at: 23.15 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 4 /100 roubles/dollar; ROUBLE AT 92.37//

3m oil into the 81 dollar handle for WTI and 85 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 149/61// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.868% 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 0.8973 as the Swiss Franc is still rising against most currencies. Euro vs SF 0.9647 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: 4.597 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.776 UP 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.870 UP 4 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 28.44…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 9 BASIS PTS AT 4.3800

end

2.a Overnight: Newsquawk and Zero hedge:

Futures Extend Last Week’s Blockbuster Rally As Oil, Yields Rise

MONDAY, NOV 06, 2023 – 08:20 AM

US equity futures extended gains after last week’s blockbuster rally, the biggest of the year, despite some weakness in bonds, as traders remained optimistic that US and European central banks may start cutting interest rates as soon as next year. As of 7:40am, S&P emini futures were higher by 0.2%, near top of Friday’s range, while Europe’s Estoxx 600 dropped 0.2% with materials leading declines. South Korea’s Kospi soared more than 5% after regulators banned short selling. The dollar fell for a fourth day. Crude futures rose more than 1.5% after Saudi Arabia and Russia reaffirmed they will stick with their supply curbs through year-end. Bitcoin continued its ascent, last seen above $35K, with Ethereum rising above $1900.

Among individual stock market movers, Ryanair jumped almost 7% after announcing its first regular dividend. Tesla rose in pre-market trading after Reuters reported the company would produce a new, more affordable electric car model in Germany. Albemarle fell 1% as UBS cut its recommendation on the lithium producer’s stock to neutral from buy. Meanwhile, Morgan Stanley slashed its price target to Street-low of $90 from $155. Here are the other notable premarket movers:

Apple Inc. is upgraded to accumulate from neutral at Phillip Securities, a move that comes in the wake of the iPhone maker’s recent results. Shares are down 0.3%.
BioNTech ADRs gain 4.7% after the vaccine maker reported a profit for the third quarter, exceeding analysts’ expectations of a loss. The firm also gave quarterly sales results that topped estimates.
Birkenstock has received buy-equivalent recommendations from a majority of brokers initiating coverage after the so-called quiet period for analysts at firms that participated in the initial public offering. Shares are down 0.2%.
Bumble slumps 7.1% after the Wall Street Journal reported that CEO Whitney Wolfe Herd is stepping down.
Dish Network Corp. is down as much as 13% after a satellite television company reported revenue for the third quarter that missed the average analyst estimate and said its CEO Erik Carlson will resign effective November 12.
Fortinet Inc. is downgraded to hold from buy at HSBC, a move that comes in the wake of the cybersecurity company’s recent results. Shares down 1.2% in premarket trading.
Freshpet shares are up 12% in premarket trading, after the retailer of pet products reported third-quarter results that beat expectations and raised its full-year forecast.
Hilton Grand Vacations falls 6% in premarket trading after the manager of timeshare resorts agreed to buy Bluegreen Vacations Holding for $75.00 per share in an all-cash transaction, representing a total enterprise value of approximately $1.5 billion, inclusive of net debt.
Paramount Global slides 3.5% in premarket trading after BofA double-downgrades its rating to underperform from buy, on basis of no significant asset sales on the horizon for the media company.
Tecnoglass Inc. shares fall 11% in premarket trading Monday after narrowing its full-year revenue outlook to a range of $835 million to $848 million, after previously forecasting between $830 million and $855 million.
SolarEdge Technologies falls 0.3% as Wells Fargo adds to the slew of downgrades since the solar equipment supplier’s weak revenue forecast last week, cutting to equal-weight with uncertainties seen outweighing a discounted valuation.

Global equity markets are finding firmer footing after recent US data pointed to a cooling economy, leading traders to price lower rates by June. Ten-year Treasury yields, the benchmark rate for the global cost of capital, edged higher Monday, having slid in recent weeks from the 16-year highs touched last month.

“A better-than-expected US earnings season and the peak in interest rates are all pointing towards a year-end rally,” said Julius Baer strategist, Leonardo Pellandini, echoing a view that has rapidly become consensus when as recently as two weeks ago the Wall Street outlook was that a drop below 4,000 was in the cards. Which is not to say that the permabears are giving up: according to Morgan Stanley’s Michael Wilson who has been wrong most of the year, last week’s market bounce was more of a bear market rally than the start of a sustained upswing, particularly in light of a gloomy earnings outlook and weaker macro data.

More information about how policymakers see the trajectory of inflation may come later in week, with speeches due from Federal Reserve Chair Jerome Powell and Bank of England governor Andrew Bailey.

“There’s a bit more reason for investors to be more optimistic that the Fed is probably done with rate hikes, but one should not let one’s guard down,” Vasu Menon, managing director for investment strategy for OCBC Bank Singapore, said on Bloomberg Television. “If the economy proves to be more resilient, if inflation proves to be more stubborn, bond yields could go up once again.”

Here are the latest market observations from Goldman trader Rich Privorotsky:

Massive stop in of macro risk last week. Very visible in the PB stats with a huge jump in nets and some outsized flows to buy macro products (“Global book saw largest net buying since Dec ’21”) . It was really a beta chase and that is quite evident from the record amounts IWM calls, the ballooning of SPX calls and a corresponding jump in funding spreads.

L/S scrambling to lock in gains on short alpha bets drove portfolio destruction and the unwind of momentum across the market (later parts of last week saw some of the worst systematic alpha we’ve seen all year). Non-profitable tech 2 day return = 13.5%, 99th % of the last 5 years. Amazing to see that the market’s correlation to longer dated rates only go higher on the week (rolling 60-day basically back to the highs).

If you look at cross asset price action the market traded as if it had been delivered QE with bonds up/eq up, credit tighter/bonds up, Cyc/def up/bonds up and vol down/bonds up. To some extent that’s true, the QRA did curtail some of the bond supply overhang. As the dust has settled I’m not so sure just how big of an impact this really has, net duration might be platueing very temporarily but the change is really marginal. Market took NFP as Goldilocks print with economy slowing just enough to take pressure off the rate market and yet not enough to project recession. Last week had a lot of weak data with ISM manf, ISM services both coming in light of expectations. The market is repricing forward earnings expectations lower sharply in European and slightly so in the US. GIR actually decomposed the yield moves last a with the lion share driven by a downgrade to growth and to a lesser extent policy (see side-note).

The technicals are supportive: From here CTA are still going likely to be buying more, L/S nets have already jumped considerably after last week (more could come but think a lot of the squaring now rear view), asset mangers have length to add as the CFTC positioning data suggests they have trimmed exposure in SPX/NDX to early summer levels (but that’s a far cry from deeply underweight levels to start the year) and vol control probably will at some point start buying again but at at a gradual pace. Vol is back to a 14 handle so any exogenous risk premia for the multiple geopolitical conflicts has slipped to zero. Ironically SPX implied vs realized still shows pretty big downside to spot vol levels.

European stocks struggled to gain traction as bond yields pared some of Friday’s post-payrolls drop. The Stoxx 600 was modestly red after rising for five straight days. Travel and mining are the best performing sectors. Ryanair shares rise as much as 6.8%, the most since January, after the budget airline announced its first ever dividend and reported second-quarter results that analysts called solid. Here are other notable European movers:

Melrose Industries shares rise as much as 4.8%, the most since September, after its subsidiary GKN Aerospace signed a new agreement with GE Aerospace, widening a long-term partnership on the GEnx program
JD Sports rises as much as 2.4% in London as Citi initiates with a buy rating, citing that it sees Asia-Pacific representing the largest growth opportunity for sporting-goods stocks
Stadler Rail rises as much as 1.5% after Oddo raised its recommendation for the Swiss train maker to neutral from underperform, citing increasingly “rational” multiples after the stock’s plunge over the past two years
Evotec drops as much as 7.8%, as RBC downgrades the German pharma company to sector perform on major near-term uncertainty from factors including life science sector headwinds
K+S shares slide as much as 7.8% to a June low after the potash producer was cut to sell from neutral at UBS, citing a lack of earnings momentum and a challenging environment for the crop nutrient
Telecom Italia shares slip after erasing gains of as much as 5.4% at the open. The Italian carrier’s board approved a sale of its land-line network to KKR for as much as €22 billion
Heidelberg Materials falls as much as 3% as UBS downgrades the cement maker to neutral from buy, citing potential for larger and higher-multiple M&A activity, which could weigh on shares
PostNL falls as much as 13%, the steepest drop since May 2022, after third-quarter results missed estimates. A recovery in parcel volumes failed to match expectations in the third quarter
Oerlikon drops as much as 7.4%, after RBC cuts the polymer processing group to sector perform in note saying that third-quarter results were “sobering” and a cautious outlook won’t help investor confidence

Earlier in the session, the MSCI Asia Pacific Index advances as much as 1.9%, rallying the most since July 13, after US Treasury yields fell on Friday following data releases that showed the US service sector expanded at the weakest pace in five months, job growth moderated and the unemployment rate climbed to 3.9%.

Hang Seng and Shanghai Comp conformed to the gains in the region with sentiment supported by weekend comments from the Chinese Premier who stated China will soon release a plan to promote high-standard institutional opening up in the Shanghai Free Trade Zone, whilst the Finance Minister said China will accelerate the issuance and use of government bonds. Traders are also cognizant of the Chinese Trade Balance data due for release tomorrow.
Korea’s Kospi index surges as much as 4.1%, the most since January 2021, following the nation’s move to reimpose a full ban on short-selling for about eight months; Kosdaq +6.2%.
Japan’s Nikkei 225 remained comfortably above the 32,500 level and hit levels last seen at the end of September with the Industrial sectors leading the gains, whilst Final Services and Composite PMIs were revised higher from the Prelim.
Australia’s ASX 200 posted modest gains as the index is hindered by losses in heavyweight Energy and Mining sectors, although gold names outperformed as the yellow metal held onto recent gains, while Financials were boosted by Westpac post earnings. Participants also look ahead to tomorrow’s RBA decision in which 35/39 analysts polled by Reuters expect a 25bps rate hike.
Indian stocks climbed for the third straight day, reflecting the widespread gains across Asia. The S&P BSE Sensex rose 0.9% to 64,958.69 as of 03:45 p.m. in Mumbai, while the NSE Nifty 50 Index gained by a similar measure to 19,411.75. Today’s gain in the Nifty was the third-best Monday performance so far this year. The NSE metal index was the top-performing sector, with 12 of its 15 member stocks advancing on the day. All sectors except the gauge for state-run banks ended in the green.

In FX, the Bloomberg Dollar Spot Index was flat after the index on Friday posted its worst performance since mid-July. The Japanese yen is one of the weakest G-10 currencies, falling 0.2% versus the greenback; the USDJPY was boosted by short covering by leveraged funds; the yen pared losses after Bank of Japan Governor Kazuo Ueda cautiously hinted that gradual progress is being made toward achieving the bank’s inflation target “Another soft outcome on Japanese labor cash earnings will reinforce our view that BoJ policy tightening is a distant prospect,” Kristina Clifton, Commonwealth Bank of Australia strategist, wrote in a note, referring to data due to come out on Tuesday

In rates, treasuries are slightly cheaper across the curve amid deeper losses in core European rates, partially unwinding Friday’s sharp bull-steepening rally spurred by softer-than-expected October jobs report. US yields cheaper by up to 3bp across front-end of the curve which leads losses on the day, re-flattening 2s10s spread by around 1bp into early US session; 10-year yields around 4.59% with bunds and gilts lagging by 4bp and 3bp in the sector. Scant economic data is scheduled for this week, while auctions resume Tuesday with $48b 3-year note sale, followed by 10- and 30-year offerings Wednesday and Thursday. Powell is slated to speak Wednesday and Thursday, among more than a dozen planned appearances by Fed officials this week. Dollar IG issuance slate already includes a handful of deals; forecasts for the week suggest around $40b of issuance on deck, higher than average, during economic data drought.

In commodities, oil prices advance, with WTI rising 1.8% to trade near $81.90. Spot gold falls 0.3%.

No US economic data scheduled for the session; ahead this week are trade balance, wholesale inventories and University of Michigan sentiment

Market Snapshot

S&P 500 futures up 0.1% to 4,382.00
STOXX Europe 600 little changed at 444.09
MXAP up 2.0% to 159.84
MXAPJ up 2.2% to 499.71
Nikkei up 2.4% to 32,708.48
Topix up 1.6% to 2,360.46
Hang Seng Index up 1.7% to 17,966.59
Shanghai Composite up 0.9% to 3,058.41
Sensex up 0.9% to 64,930.04
Australia S&P/ASX 200 up 0.3% to 6,997.38
Kospi up 5.7% to 2,502.37
German 10Y yield little changed at 2.69%
Euro up 0.1% to $1.0745
Brent Futures up 1.4% to $86.04/bbl
Brent Futures up 1.3% to $86.01/bbl
Gold spot down 0.3% to $1,986.56
U.S. Dollar Index little changed at 104.93

Top Overnight News

China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country’s business environment. RTRS
China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan. The finance ministry will steadily promote the resolution of local government debt risk and increase efforts to better leverage the role of special bonds to boost the economy, Xinhua cited Foan as saying. RTRS
Foreign firms yanked more than $160 billion in total earnings from China during six successive quarters through the end of September, according to an analysis of Chinese data, an unusually sustained run of profit outflows that shows how much the country’s appeal is waning for foreign capital. WSJ
Chinese brokerages surged after authorities proposed to relax capital requirements for firms and signaled support for more acquisitions. BBG
Shares in South Korea surged on Monday morning after the country’s financial regulator issued a blanket ban on short selling to appease retail investors ahead of parliamentary elections next year. FT
Saudi Arabia and Russia reaffirmed that they will stick with oil supply curbs of more than 1 million barrels a day until the end of the year, even as turmoil in the Middle East roils global markets. The leaders of the OPEC+ coalition announced the plans in separate official statements on Sunday. Riyadh has slashed daily crude production by 1 million barrels and Moscow is curbing exports by 300,000 barrels, on top of earlier cuts made with fellow OPEC+ nations. BBG
Trump leads Biden in nearly all the important battleground states according to a new poll (Biden leads among voters under 30 by just a single point and his advantage with Hispanic voters is down to the single digits). NYT
Israeli troops encircled Gaza City, effectively cutting off the northern part of the strip from the south, an army spokesman said. Antony Blinken is in Turkey after making unannounced stops in the West Bank and Iraq. White House officials are frustrated at the scale of civilian casualties in Gaza. WaPo
Hedge funds extended short positions on Treasuries to a record, CFTC data showed — just before smaller-than-expected US bond sales and weaker jobs data spurred a rally. Also on a collision course: Money markets have raised policy-easing wagers, betting the first Fed rate cut will be in June, with 100 bps of reductions by end-2024. BBG
Consumer Discretionary was the most net bought sector on the US Prime book last week and saw the largest net buying since Dec ’21, driven almost entirely by long buys. Last week’s long buying in US Cons Disc ranks in the 93rd percentile vs. the past five years.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded higher across the board following the post-NFP tailwinds from Wall Street on Friday, with sentiment in the region also boosted by South Korea announcing a ban on stock short-shelling which catapulted the KOSPI index to gain over 4%. ASX 200 posted modest gains as the index is hindered by losses in heavyweight Energy and Mining sectors, although gold names outperformed as the yellow metal held onto recent gains, while Financials were boosted by Westpac post earnings. Participants also look ahead to tomorrow’s RBA decision in which 35/39 analysts polled by Reuters expect a 25bps rate hike. Nikkei 225 remained comfortably above the 32,500 level and hit levels last seen at the end of September with the Industrial sectors leading the gains, whilst Final Services and Composite PMIs were revised higher from the Prelim. Hang Seng and Shanghai Comp conformed to the gains in the region with sentiment supported by weekend comments from the Chinese Premier who stated China will soon release a plan to promote high-standard institutional opening up in the Shanghai Free Trade Zone, whilst the Finance Minister said China will accelerate the issuance and use of government bonds. Traders are also cognizant of the Chinese Trade Balance data due for release tomorrow.

Top Asian News

China Premier said China will continue to promote opening up and market opportunities, and China will actively expand imports, and promote coordination of trading goods and services. He added China will further expand market access and remove barriers to foreign investment in manufacturing. China Premier said in the next five years, China’s imports of goods and services are expected to reach USD 17tln on cumulative terms, and China will soon release a plan to promote high-standard institutional opening up in the Shanghai Free Trade Zone, according to Reuters.
China’s Finance Minister said China will accelerate the issuance and use of government bonds, and China will steadily promote the resolution of local government debt risks, according to Reuters citing state media.
Alibaba’s (9988 HK/BABA) Ant Group has received Chinese government approval to release products powered by its ‘Bailing’ AI model to the public, according to Reuters.
PBoC injected CNY 18bln via 7-day reverse repos with the rate at 1.80% for a CNY 658bln net daily drain, according to Reuters.
China’s Shenzhen state asset regulator says if Vanke (2202 HK) faces extreme conditions it has sufficient liquidity to assist, via Reuters citing sources.
South Korea to ban all stock short-selling through the first half of 2024 to help create a “level playing field” for both retail investors and institutional and foreign investors, according to financial regulators cited by Reuters.
The Japanese government reportedly plans to submit an extra budget to Parliament on November 20th, according to Asahi.
BoJ Governor Ueda reiterated that Japan’s economy is recovering moderately and is likely to continue recovering and repeated that the BoJ will patiently maintain monetary easing to support economic activity, according to Reuters. He said long-term interest rates may rise somewhat, but what’s important is to look at the real interest rate that takes into account inflation expectations. He added the BoJ will continue massive bond-buying even under the new operation decided last week and will conduct nimble market operations when interest rates rise, depending on the level and speed of moves of long-term rates. He said even if long-term rates come under upward pressure, he doesn’t expect the 10-year JGB yield to sharply exceed 1%, and BoJ needs to carefully weigh the effect of the policy in stimulating the economy and the potential side-effects under YCC. Ueda said the BoJ will keep Yield Curve Control and negative short-term rates intact until the sustained achievement of 2% inflation is foreseen. Ueda said the BoJ needs to have more conviction that wages will keep rising.
BoJ Minutes from the September 21-22 meeting (two meetings ago) said members expressed the need to continue patiently with monetary easing to achieve the sustainable inflation target, alongside wage growth, according to Reuters.
Japanese government is to hold a meeting with management and labor unions this month, via Nikkei.
RBA Shadow Board calls for a rate hike to curb inflation, according to Canberra Times.

European bourses are in the red with trade thus far relatively cagey and contained after last week’s action and as the region awaits fresh catalysts, Euro Stoxx 50 -0.3%. Sectors are mixed with outperformance in Travel & Leisure post-Ryanair while the likes of Real Estate, Construction and Chemicals lag. Stateside, futures are modestly firmer in a continuation of Friday’s action going into a week that features numerous Fed speakers incl. Chair Powell and data prints such as Manheim & UoM; ES & NQ +0.2%. Berkshire Hathaway (BRK): Reported a +40.6% increase in Q3 operating earnings to USD 10.76bln (exp. 8.95bln), or around USD 4.96/shr per Class B share (exp. 4.42), and around USD 7,442 for each Class A share (exp. 6,625). Q3 revenue USD 93.2bln (exp. 88.1bln); Q3 insurance underwriting operating income USD 2.422bln (vs USD 1.247bln Q/Q), Q3 insurance investment income USD 2.47bln (vs 2.369bln Q/Q). Ended the quarter with USD 157.2bln of cash. Executed USD 1.1bln of share repurchases in Q3 (vs USD 1.4bln in Q2). Its outlook acknowledges challenges like the pandemic’s impact, geopolitical risks, and inflation pressures. +0.6% in pre-market trade.

Top European News

ECB President Lagarde said the ECB is determined to bring inflation down to 2%. “According to our projections, we will get there in 2025”, according to an interview with Greek press conducted on 30th October and released on 4th November.
UK PM Sunak will reportedly unveil a North Sea annual oil and gas licensing bill which will allow companies to bid yearly for new licences to drill for fossil fuels, according to the FT. “There is currently no fixed period between licensing rounds – but this would change under a bill to be announced in Tuesday’s King’s Speech… Ministers said projects would have to meet net-zero targets and claimed the policy would guarantee energy security.”, according to the BBC.
UK Chancellor Hunt is facing calls from Tory MPs to lower taxes after figures revealed a multi-billion GBP improvement in public finances since March’s budget, according to The Times.

Buck continues to buckle after ‘dovish’ Fed, NFP and ISM misses as DXY slips into a softer 105.15-104.84 range, Pound, Euro and Franc all extend gains vs Dollar to form 1.2400+ triple top, probe 1.0750 and approach 0.8950 respectively.
EUR/USD faces decent option expiry interest below 1.0800.
USD/JPY capped by 21 DMA and expiries at 150.00 strike after BoJ Governor Ueda maintains that patient monetary easing is still needed.
Aussie prepares for likely RBA hike, with AUD/USD holding above 0.6500 and AUD/NZD cross eyeing return to 1.0900.
Loonie underpinned by a bounce in crude and hawkish line from BoC’s Rogers ahead of Canadian Ivey PMIs and Market Participants Survey.
PBoC sets USD/CNY mid-point at 7.1780 vs exp. 7.2868 (prev. 7.1796)

Bonds hand back more of Friday’s post-payrolls and services ISM gains.
Bunds towards the lower end of 129.90-130.38 band alongside EGB peers after stronger than expected German factory orders and not as weak as feared EZ Sentix index.
Gilts and T-note near base of 94.78-95.15 and 108-02/07+ respective ranges.

Commodities

Crude benchmarks are firmer and have continued to climb despite a lack of fundamental updates occurring in European hours, with the move primarily a recovery from Friday’s pressure and aided by geopolitics alongside a softer USD.
As it stands, WTI Dec’23 and Brent Jan’24 contracts are at the top end of circa. USD 1.50/bbl parameters but remain well within Friday’s and by extensions last week’s parameters.
Spot gold is little changed with the overall tone a tentative one as we await fresh catalysts and continue to analyse last week’s data and potential associated Fed implications. Finally, base metals are generally firmer owing to the constructive APAC tone.
Saudi Arabia December OSPs: Arab Light prices maintained for Asia and the US, but large cut to NW Europe, according to Reuters: Asia +4.00/bbl (prev. +4.00/bbl) vs Oman/Dubai average, NW Europe +4.90/bbl (prev. +7.20/bbl) to Ice Brent settlement, US +7.45/bbl (prev. +7.45/bbl) vs ASCI.
Saudi Ministry of Energy reaffirmed that Saudi Arabia will continue the voluntary cut of 1mln BPD through December, according to the state news agency SPA.
Russia’s Deputy PM Novak reaffirmed Russia to continue the additional voluntary supply cut of oil and petroleum products exports by 300k BPD until the end of December this year. He said the voluntary cut decision will be reviewed next month to consider deepening the cut or increasing oil production, according to Reuters.

Geopolitics: Israel-Hamas

Israeli PM Netanyahu said there will be no ceasefire until hostages are returned, according to Reuters. Israel’s army says it has cut the Gaza Strip in two, according to AFP.
Four civilians, three of them children, were killed by an Israeli airstrike in south Lebanon on Sunday evening, according to Sky News.
Hezbollah said it fired multiple Grad rockets at the northern Israeli town of Kiryat Shmona in retaliation for an Israeli airstrike in South Lebanon, according to Reuters.
Hezbollah lawmaker Fadallah said the Israeli strike which killed children is a “dangerous development”, and will have repercussions, according to Reuters.
Lebanon said it will submit a complaint to the United Nations over the killing of civilians including children in an Israeli strike in South Lebanon, according to the Lebanese Foreign Minister cited by Reuters.
Israeli military spokesperson said their attacks in Lebanon are made based on intelligence information, according to Reuters.
Evacuations from Gaza to Egypt through Rafah crossing were reportedly suspended since Saturday after Israeli strikes on ambulances, according to Egyptian official sources cited by Reuters.
Qatar’s Foreign Ministry spokesperson said the Hamas political office in Doha will remain open so long as it can be used towards peace, and there’s no reason to close it now, and added that Qatar is working with Egypt to ensure Rafah crossing remains open, according to Reuters.
Egyptian Foreign Minister Shoukry says he cannot justify Israel’s actions against Palestinians as self-defence, according to Reuters.
Diplomatic adviser to the UAE President said Israel’s response to the October 7 attack is disproportionate, and added the Palestinian issue is an Arab issue, according to Reuters.
Saudi Arabia strongly condemned the statement issued by an Israeli minister regarding dropping a nuclear bomb on the Gaza Strip, according to Reuters.
US Central Command announced that the Ohio-class nuclear submarine has arrived in the Middle East.
US President Biden said “yes” when asked if there has been any progress on a humanitarian pause in Gaza, according to Reuters.
US Secretary of State Blinken said the US is intensely focused on bringing home hostages from Gaza. He said a humanitarian pause could advance the prospect of getting hostages back, while adding the current flow of aid to Gaza is grossly insufficient, according to Reuters.
US Secretary of State Blinken told Palestinian leader Abbas that the Palestinian Authority should play a central role in what comes next in Gaza, according to a Senior State Department Official cited by Reuters. Blinken made clear that Palestinians must not be forcibly displaced and reiterated US commitment to advancing dignity, and security for Palestinians and Israelis alike, according to Reuters.
Iran’s Defense Minister warned the US it “will be hit hard” if it does not implement a ceasefire in Gaza, according to Tasnim cited by Reuters. Iran’s Vice President said the tragedy in Gaza cannot be ignored, according to Reuters.
The Turkish Foreign Minister reportedly discussed the situation in Gaza with the Egyptian and Jordanian counterparts. They exchanged views on stopping attacks on civilians in Gaza and achieving an urgent ceasefire, according to a Turkish diplomatic source cited by Reuters.
French Foreign Minister said the humanitarian conference on November 9th will cover the respect of international law, and will call for a concrete mobilization for the civilian population in Gaza, according to Reuters.
TotalEnergies (TTE FP) has raised security vigilance for its operations in the Middle East, according to Reuters.

Geopolitics: Others

Armed factions claim to target Ain al-Assad base in Iraq with 4 missiles, according to Sky News Arabia citing their correspondent.
US Secretary of State Blinken in Iraq, said he had a very good and candid conversation with the Iraqi leader and said attacks on US personnel are a matter of Iraqi sovereignty and against its own interests, according to Reuters.
The Turkish military conducted air strikes against Kurdish militants in northern Iraq, hitting 15 targets, according to the Defense Ministry cited by Reuters.
Russian Defense Ministry said a new atomic submarine conducted a test launch of a Bulava intercontinental missile in the White Sea, according to Reuters.
Belarus Foreign Ministry summons Polish Charge D’Affaire over violation of its airspace on Nov 2nd, according to a statement.
Russia is moving to expand its military presence in eastern Libya, according to Bloomberg.
Japanese PM Kishida said Japan will continue to contribute to enhancements of Philippine security capabilities and stated that in the South China Sea, a trilateral cooperation to protect the freedom of the sea is underway, according to Reuters.
China’s Defense Ministry, in response to Canada accusing Chinese fighter jets of ‘unsafe interception,’ states that China’s response was professional while adding Canada’s move violates China’s laws and jeopardizes China’s security, according to Reuters.
Iraqi PM arrived in the Iranian capital as part of an official visit, according to Asharq News.
Russian President Putin has decided to run for President again in 2024, via Reuters citing sources; Russian President Putin has not announced he would run for another presidential term and no campaign yet, via Peskov.

US Event Calendar

Nothing major scheduled

DB’s Jim Reid concludes the overnight wrap

The week after payrolls is usually very light on US data and this rings true this week. The highlight for us will probably be today’s US Senior Loan Officers Opinion Survey (SLOOS) even if it’s unlikely to be an immediate market mover. Bank lending standards are in deep recessionary territory and the longer they stay there the more risk that refinancings won’t happen (or come at a much higher cost) which will slow the economy and potentially cause accidents. For now a combination of excess savings, private markets, and the lack of need for refis could have weakened the usual impact on the economy, even with the typical lag. So the trillion dollar question is can the economy get by long enough for bank lending standards to gradually improve to normal levels? I’m sceptical of this but we will see if any trends emerge today at 7pm London time.

The big story of last week was the epic rally in bonds and equities. It seems our seasonal chart we published on October 27th (link here), that basically said the bottom in US equity markets in H2 occurs on that day (using nearly 100 years of data), has picked the local lows perfectly. The S&P 500 (+5.85%) had its best week in a year and 10 and 30yr US yields rallied -26.4bps and -24.8bps respectively and had their best week since March and January. For Treasuries there was much talk about the QRA (quarterly refunding announcement) driving the rally. There’s no doubt that this was the initial catalyst but the rally had 4 stages. First the QRA, then the weak ISM, then the dovish Fed (all on the same day), and then finally a weak payrolls report on Friday which we’ll discuss at the end when we briefly recap the past week. The one thing we’ll say here is that the Sahm Rule got a little closer to being triggered with US unemployment (3.9%) now 0.5pp above its lows in April. The trigger is the 3m moving average being 0.5pp above the 3m moving average lows of the last 12 months and when this happens the US economy has always been in, or about to be in, recession (using post WWII data). It is currently 0.33% above the lows. So one to watch. The fascinating thing about markets is that the path to a hard landing is often via the appearance of a soft landing first. So we’re in this window where the data is softening but if it only ends up softens a bit, and then stabilising, then its great news. However if it’s the start of something bigger it’s not. The former scenario won out last week as you’ll see in more detail at the end in our review.

Moving onto this week, outside of the SLOOS, the week is full of Fed speak stored up from the Fed blackout period and with the FOMC being firmly behind us. See DB’s Brett Ryan week ahead here for more details on the Fed speakers but the main one is Powell at the IMF conference on Thursday. Last Wednesday he talked about tighter financial conditions doing some of the Fed’s work for them. After the huge 60/40 rally since, will he still feel the same way by Thursday? Elsewhere in the US, tomorrow’s trade numbers are of minor interest and then Friday’s University of Michigan’s consumer confidence is the other main highlight with focus on the 1yr and longer-term inflation expectations. The former spiking from 3.2% to 4.2% last month and more importantly, the latter picking back up a couple of tenths.

Moving back across the pond, markets will focus on German factory orders (today) and industrial production tomorrow. Other notable indicators due include Italian retail sales (Wednesday) and industrial production (Friday), the trade balance for France (Wednesday), the ECB Consumer Expectations Survey (Wednesday), and UK monthly GDP (Friday).

In China, all eyes will be on the inflation data (Thursday) following last week’s misses on the PMIs. Current median estimates on Bloomberg suggest the CPI is expected to fall back into negative territory (-0.1% YoY vs 0.0% in September) and the PPI is also seen falling (-2.7% vs -2.5%). Prior to the inflation prints, there will also be trade balance data tomorrow.

As well as Powell speaking this week, ECB President Lagarde (Thursday) and BoE Governor Bailey (Wednesday) will all make appearances. Staying with central banks, the RBA have their latest meeting tomorrow with our economists (more here) expecting a +25bps hike.

In corporate earnings, with more than 400 of the S&P 500 members having already reported, things will slow down a bit until Nvidia report on November 21st. The key names this week are in the day-by-day week ahead at the end. See our equity strategists’ global review of earnings season so far here.

Asian equity markets are rallying this morning following Western markets on Friday. The KOSPI (+4.20%) is leading the way and is trading sharply higher after South Korea reimposed a ban on short selling until the end of June 2024. Elsewhere, the Nikkei (+2.41%) is also climbing after returning from a long weekend while the Hang Seng (+1.69%), the CSI (+1.34%) and the Shanghai Composite (+0.88%) are also trading higher. US stock futures are broadly flat with US Treasuries 0-2bps higher across the curve.

Early morning data showed that Japan’s services activity expanded at the softest pace this year as the final estimate of the au Jibun Bank services PMI fell to 51.6 in October from 53.8 in September. Meanwhile, the final composite PMI was at 50.5 in October, down from 52.1 in September.

Staying in Japan, BOJ Governor Kazuo Ueda has said this morning that the central bank is gradually making progress towards its inflation target as Japanese companies are becoming more proactive in setting prices and wages. However, he added that it was still insufficient to justify a pivot away from the central bank’s ultra-loose policy.

In commodities, oil prices are gaining ground in Asia with Brent futures up +0.47%, trading at $85.29/bbl after Saudi Arabia & Russia, two top oil exporters, reaffirmed that they will continue with their oil supply cuts of more than 1 million barrels a day until the end of the year.

Looking back on last week now, Friday saw the release of US nonfarm payrolls for October. T he headline result came in below expectations at 150k (vs 180k expected), a significant drop from the revised 297k (previously 336k) in September. The unemployment rate drifted upwards to 3.9% (vs 3.8% expected), and average hourly earnings was at 0.2% (vs 0.3% expected). In sum, the data was weaker across the board, and was taken as further evidence of a cooling of the US economy and labour market.

Off the back of this, markets moved to price in meaningful and earlier cuts to the Fed rate. The rate priced in for the December 2024 meeting fell -19.8bps on Friday, and -22.3bps week-on-week, bringing the expected rate to 4.345%. In other words, c. 100bps of cuts are now priced until 2024 year-end. This Fed repricing saw the 2yr Treasury yield fall by -15.0bps on Friday, and -16.2bps over the week, reaching their lowest level since early August at 4.84%. Friday’s rally was less pronounced on the long-end, with the 10yr yield down -8.7bps and 30yr down -3.4bps. B ut longer-dated bonds outperformed over the week, with the 10yr down -26.4bps to 4.57%, and the 30yr down -24.8bps, their strongest weekly rallies since March and January respectively. Over in Europe, bonds saw slightly smaller gains, with 10yr German bunds down -18.7bps week-on-week (and -7.2bps on Friday).

The jobs data underpinned Friday’s rally in equity markets, with the S&P 500 up +0.94%. Friday marked the fifth consecutive day of gains for the index, with an overall weekly increase of +5.85%, its best week since this time last year. Tech also enjoyed a strong week, after the NASDAQ recorded a weekly gain of +6.61% (and +1.38% on Friday). But it was the small-cap Russel 2000 index that saw the largest outperformance, with a +7.56% weekly gain its largest since early 2021 (+2.71% on Friday). Friday’s rally did not falter in the face of a speech from Lebanese group Hezbollah, which emphasised that further conflict by the group would ‘depend on escalation’. On the whole, the speech was interpreted as limiting the risks an immediate broadening of the conflict. After the strong week, the VIX equity volatility measure fell -6.4pts week-on-week (and -0.8pts on Friday) to 14.9, its largest weekly decline since March 2022. Over in Europe, the STOXX 600 posted a more modest gain of +3.41% (and +0.17% on Friday).

Turning to commodities, oil prices declined for the second week in a row amid limited signs of escalation in the Middle East and softer economic data. Brent crude dropped -2.26% on Friday, and -6.18% on the week to $84.89/bbl. WTI crude fell -5.88% week-on-week (and -2.36% on Friday) to $80.51/bbl. Gold fell -0.68% on the week, but jumped +0.38% on Friday.

Finally in FX, lower rates and easing perceptions of geopolitical risk weighed on the dollar, with the broad dollar index seeing its largest daily and weekly declines since mid-July (-1.04% on Friday and -1.44% week-on-week).

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

US futures firmer, Crude bid & DXY sub-105.00 with yields modestly firmer – Newsquawk US Market Open

MONDAY, NOV 06, 2023 – 06:08 AM

European bourses slip into the red while US futures remain afloat with fresh catalysts somewhat light
Crude bolstered after Friday’s pressure alongside ongoing geopols and a handful of bullish catalysts
DXY sub-105.00 with peers generally extending gains, though JPY & NZD are capped
Bonds hand back some of Fridays post-data gains, yields modestly firmer across the curve
Looking ahead, highlights include Canadian PMI, FOMC Senior Loan Officer Opinion Survey & BoC Market Participants Survey, Speech from BoE’s Pill, Fed’s Cook and Earnings from NXP Semiconductor.

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EUROPEAN TRADE

EQUITIES

European bourses are in the red with trade thus far relatively cagey and contained after last week’s action and as the region awaits fresh catalysts, Euro Stoxx 50 -0.3%.
Sectors are mixed with outperformance in Travel & Leisure post-Ryanair while the likes of Real Estate, Construction and Chemicals lag.
Stateside, futures are modestly firmer in a continuation of Friday’s action going into a week that features numerous Fed speakers incl. Chair Powell and data prints such as Manheim & UoM; ES & NQ +0.2%.
Berkshire Hathaway (BRK): Reported a +40.6% increase in Q3 operating earnings to USD 10.76bln (exp. 8.95bln), or around USD 4.96/shr per Class B share (exp. 4.42), and around USD 7,442 for each Class A share (exp. 6,625). Q3 revenue USD 93.2bln (exp. 88.1bln); Q3 insurance underwriting operating income USD 2.422bln (vs USD 1.247bln Q/Q), Q3 insurance investment income USD 2.47bln (vs 2.369bln Q/Q). Ended the quarter with USD 157.2bln of cash. Executed USD 1.1bln of share repurchases in Q3 (vs USD 1.4bln in Q2). Its outlook acknowledges challenges like the pandemic’s impact, geopolitical risks, and inflation pressures. +0.6% in pre-market trade.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
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FX

Buck continues to buckle after ‘dovish’ Fed, NFP and ISM misses as DXY slips into a softer 105.15-104.84 range, Pound, Euro and Franc all extend gains vs Dollar to form 1.2400+ triple top, probe 1.0750 and approach 0.8950 respectively.
EUR/USD faces decent option expiry interest below 1.0800.
USD/JPY capped by 21 DMA and expiries at 150.00 strike after BoJ Governor Ueda maintains that patient monetary easing is still needed.
Aussie prepares for likely RBA hike, with AUD/USD holding above 0.6500 and AUD/NZD cross eyeing return to 1.0900.
Loonie underpinned by a bounce in crude and hawkish line from BoC’s Rogers ahead of Canadian Ivey PMIs and Market Participants Survey.
PBoC sets USD/CNY mid-point at 7.1780 vs exp. 7.2868 (prev. 7.1796)
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Click here for the Option Expires for the NY Cut.

FIXED INCOME

Bonds hand back more of Friday’s post-payrolls and services ISM gains.
Bunds towards the lower end of 129.90-130.38 band alongside EGB peers after stronger than expected German factory orders and not as weak as feared EZ Sentix index.
Gilts and T-note near base of 94.78-95.15 and 108-02/07+ respective ranges.
Click here for more details.

COMMODITIES

Crude benchmarks are firmer and have continued to climb despite a lack of fundamental updates occurring in European hours, with the move primarily a recovery from Friday’s pressure and aided by geopolitics alongside a softer USD.
As it stands, WTI Dec’23 and Brent Jan’24 contracts are at the top end of circa. USD 1.50/bbl parameters but remain well within Friday’s and by extensions last week’s parameters.
Spot gold is little changed with the overall tone a tentative one as we await fresh catalysts and continue to analyse last week’s data and potential associated Fed implications. Finally, base metals are generally firmer owing to the constructive APAC tone.
Saudi Arabia December OSPs: Arab Light prices maintained for Asia and the US, but large cut to NW Europe, according to Reuters: Asia +4.00/bbl (prev. +4.00/bbl) vs Oman/Dubai average, NW Europe +4.90/bbl (prev. +7.20/bbl) to Ice Brent settlement, US +7.45/bbl (prev. +7.45/bbl) vs ASCI.
Saudi Ministry of Energy reaffirmed that Saudi Arabia will continue the voluntary cut of 1mln BPD through December, according to the state news agency SPA.
Russia’s Deputy PM Novak reaffirmed Russia to continue the additional voluntary supply cut of oil and petroleum products exports by 300k BPD until the end of December this year. He said the voluntary cut decision will be reviewed next month to consider deepening the cut or increasing oil production, according to Reuters.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

ECB President Lagarde said the ECB is determined to bring inflation down to 2%. “According to our projections, we will get there in 2025”, according to an interview with Greek press conducted on 30th October and released on 4th November.
UK PM Sunak will reportedly unveil a North Sea annual oil and gas licensing bill which will allow companies to bid yearly for new licences to drill for fossil fuels, according to the FT. “There is currently no fixed period between licensing rounds – but this would change under a bill to be announced in Tuesday’s King’s Speech… Ministers said projects would have to meet net-zero targets and claimed the policy would guarantee energy security.”, according to the BBC.
UK Chancellor Hunt is facing calls from Tory MPs to lower taxes after figures revealed a multi-billion GBP improvement in public finances since March’s budget, according to The Times.

EUROPEAN DATA

EU Sentix Index (Nov) -18.6 vs. Exp. -22.2 (Prev. -21.9)
EU S&P Global Composite Final PMI (Oct) 46.5 vs. Exp. 46.5 (Prev. 46.5); Services Final PMI (Oct) 47.8 vs. Exp. 47.8 (Prev. 47.8)
German HCOB Composite Final PMI (Oct) 45.9 vs. Exp. 45.8 (Prev. 45.8); Services PMI (Oct) 48.2 vs. Exp. 48.0 (Prev. 48.0)
UK S&P Global/CIPS Construction PMI (Oct) 45.6 vs. Exp. 46.0 (Prev. 45.0)

NOTABLE US HEADLINES

UAW said GM (GM) union leaders support sending this tentative agreement with GM to the membership for a vote. UAW said auto workers at Toyota (7203 JT), Honda (7267 JT), Volkswagen (VOW3 GY), Hyundai (005380 KS), and Tesla (TSLA) deserve record contracts too, according to Reuters.
Citizens Bank, a small bank in Iowa, closed by regulators, making it the 6th US bank failure this year, according to BNO News.
BoC’s Rogers said a rate hike is on the table until “we are confident that we are clearly on our way”, according to Bloomberg. Rogers added that restoring price stability remains the central bank’s focus, and despite the delay, the bank is seeing monetary policy “really starting to take hold”.
Barclays sees Fed hiking rates by 25bps in January (prev. December), citing dovish Fed commentary and softer-than-expected October jobs data.
US Treasury Secretary Yellen says will meet with the Chinese VP in San Francisco on November 9-10th ahead of the APEC summit; US-China working groups will also meet. Will raise serious concerns about large Chinese industrial subsidies.
Click here for the US Early-Morning note.

GEOPOLITICS

ISRAEL-HAMAS

Israeli PM Netanyahu said there will be no ceasefire until hostages are returned, according to Reuters. Israel’s army says it has cut the Gaza Strip in two, according to AFP.
Four civilians, three of them children, were killed by an Israeli airstrike in south Lebanon on Sunday evening, according to Sky News.
Hezbollah said it fired multiple Grad rockets at the northern Israeli town of Kiryat Shmona in retaliation for an Israeli airstrike in South Lebanon, according to Reuters.
Hezbollah lawmaker Fadallah said the Israeli strike which killed children is a “dangerous development”, and will have repercussions, according to Reuters.
Lebanon said it will submit a complaint to the United Nations over the killing of civilians including children in an Israeli strike in South Lebanon, according to the Lebanese Foreign Minister cited by Reuters.
Israeli military spokesperson said their attacks in Lebanon are made based on intelligence information, according to Reuters.
Evacuations from Gaza to Egypt through Rafah crossing were reportedly suspended since Saturday after Israeli strikes on ambulances, according to Egyptian official sources cited by Reuters.
Qatar’s Foreign Ministry spokesperson said the Hamas political office in Doha will remain open so long as it can be used towards peace, and there’s no reason to close it now, and added that Qatar is working with Egypt to ensure Rafah crossing remains open, according to Reuters.
Egyptian Foreign Minister Shoukry says he cannot justify Israel’s actions against Palestinians as self-defence, according to Reuters.
Diplomatic adviser to the UAE President said Israel’s response to the October 7 attack is disproportionate, and added the Palestinian issue is an Arab issue, according to Reuters.
Saudi Arabia strongly condemned the statement issued by an Israeli minister regarding dropping a nuclear bomb on the Gaza Strip, according to Reuters.
US Central Command announced that the Ohio-class nuclear submarine has arrived in the Middle East.
US President Biden said “yes” when asked if there has been any progress on a humanitarian pause in Gaza, according to Reuters.
US Secretary of State Blinken said the US is intensely focused on bringing home hostages from Gaza. He said a humanitarian pause could advance the prospect of getting hostages back, while adding the current flow of aid to Gaza is grossly insufficient, according to Reuters.
US Secretary of State Blinken told Palestinian leader Abbas that the Palestinian Authority should play a central role in what comes next in Gaza, according to a Senior State Department Official cited by Reuters. Blinken made clear that Palestinians must not be forcibly displaced and reiterated US commitment to advancing dignity, and security for Palestinians and Israelis alike, according to Reuters.
Iran’s Defense Minister warned the US it “will be hit hard” if it does not implement a ceasefire in Gaza, according to Tasnim cited by Reuters. Iran’s Vice President said the tragedy in Gaza cannot be ignored, according to Reuters.
The Turkish Foreign Minister reportedly discussed the situation in Gaza with the Egyptian and Jordanian counterparts. They exchanged views on stopping attacks on civilians in Gaza and achieving an urgent ceasefire, according to a Turkish diplomatic source cited by Reuters.
French Foreign Minister said the humanitarian conference on November 9th will cover the respect of international law, and will call for a concrete mobilization for the civilian population in Gaza, according to Reuters.
TotalEnergies (TTE FP) has raised security vigilance for its operations in the Middle East, according to Reuters.

OTHERS

Armed factions claim to target Ain al-Assad base in Iraq with 4 missiles, according to Sky News Arabia citing their correspondent.
US Secretary of State Blinken in Iraq, said he had a very good and candid conversation with the Iraqi leader and said attacks on US personnel are a matter of Iraqi sovereignty and against its own interests, according to Reuters.
The Turkish military conducted air strikes against Kurdish militants in northern Iraq, hitting 15 targets, according to the Defense Ministry cited by Reuters.
Russian Defense Ministry said a new atomic submarine conducted a test launch of a Bulava intercontinental missile in the White Sea, according to Reuters.
Belarus Foreign Ministry summons Polish Charge D’Affaire over violation of its airspace on Nov 2nd, according to a statement.
Russia is moving to expand its military presence in eastern Libya, according to Bloomberg.
Japanese PM Kishida said Japan will continue to contribute to enhancements of Philippine security capabilities and stated that in the South China Sea, a trilateral cooperation to protect the freedom of the sea is underway, according to Reuters.
China’s Defense Ministry, in response to Canada accusing Chinese fighter jets of ‘unsafe interception,’ states that China’s response was professional while adding Canada’s move violates China’s laws and jeopardizes China’s security, according to Reuters.
Iraqi PM arrived in the Iranian capital as part of an official visit, according to Asharq News.
Russian President Putin has decided to run for President again in 2024, via Reuters citing sources; Russian President Putin has not announced he would run for another presidential term and no campaign yet, via Peskov.

APAC TRADE

APAC stocks traded higher across the board following the post-NFP tailwinds from Wall Street on Friday, with sentiment in the region also boosted by South Korea announcing a ban on stock short-shelling which catapulted the KOSPI index to gain over 4%.
ASX 200 posted modest gains as the index is hindered by losses in heavyweight Energy and Mining sectors, although gold names outperformed as the yellow metal held onto recent gains, while Financials were boosted by Westpac post earnings. Participants also look ahead to tomorrow’s RBA decision in which 35/39 analysts polled by Reuters expect a 25bps rate hike.
Nikkei 225 remained comfortably above the 32,500 level and hit levels last seen at the end of September with the Industrial sectors leading the gains, whilst Final Services and Composite PMIs were revised higher from the Prelim.
Hang Seng and Shanghai Comp conformed to the gains in the region with sentiment supported by weekend comments from the Chinese Premier who stated China will soon release a plan to promote high-standard institutional opening up in the Shanghai Free Trade Zone, whilst the Finance Minister said China will accelerate the issuance and use of government bonds. Traders are also cognizant of the Chinese Trade Balance data due for release tomorrow.

NOTABLE HEADLINES

China Premier said China will continue to promote opening up and market opportunities, and China will actively expand imports, and promote coordination of trading goods and services. He added China will further expand market access and remove barriers to foreign investment in manufacturing. China Premier said in the next five years, China’s imports of goods and services are expected to reach USD 17tln on cumulative terms, and China will soon release a plan to promote high-standard institutional opening up in the Shanghai Free Trade Zone, according to Reuters.
China’s Finance Minister said China will accelerate the issuance and use of government bonds, and China will steadily promote the resolution of local government debt risks, according to Reuters citing state media.
Alibaba’s (9988 HK/BABA) Ant Group has received Chinese government approval to release products powered by its ‘Bailing’ AI model to the public, according to Reuters.
PBoC injected CNY 18bln via 7-day reverse repos with the rate at 1.80% for a CNY 658bln net daily drain, according to Reuters.
China’s Shenzhen state asset regulator says if Vanke (2202 HK) faces extreme conditions it has sufficient liquidity to assist, via Reuters citing sources.
South Korea to ban all stock short-selling through the first half of 2024 to help create a “level playing field” for both retail investors and institutional and foreign investors, according to financial regulators cited by Reuters.
The Japanese government reportedly plans to submit an extra budget to Parliament on November 20th, according to Asahi.
BoJ Governor Ueda reiterated that Japan’s economy is recovering moderately and is likely to continue recovering and repeated that the BoJ will patiently maintain monetary easing to support economic activity, according to Reuters. He said long-term interest rates may rise somewhat, but what’s important is to look at the real interest rate that takes into account inflation expectations. He added the BoJ will continue massive bond-buying even under the new operation decided last week and will conduct nimble market operations when interest rates rise, depending on the level and speed of moves of long-term rates. He said even if long-term rates come under upward pressure, he doesn’t expect the 10-year JGB yield to sharply exceed 1%, and BoJ needs to carefully weigh the effect of the policy in stimulating the economy and the potential side-effects under YCC. Ueda said the BoJ will keep Yield Curve Control and negative short-term rates intact until the sustained achievement of 2% inflation is foreseen. Ueda said the BoJ needs to have more conviction that wages will keep rising.
BoJ Minutes from the September 21-22 meeting (two meetings ago) said members expressed the need to continue patiently with monetary easing to achieve the sustainable inflation target, alongside wage growth, according to Reuters.
Japanese government is to hold a meeting with management and labor unions this month, via Nikkei.
RBA Shadow Board calls for a rate hike to curb inflation, according to Canberra Times.

DATA RECAP

Japanese Services PMI (Oct Final) 51.6 (Prelim. 51.1); Composite PMI (Oct Final) 50.5 (Prelim. 49.9)
ANZ Australian Job Ads index (Oct) -3% (Prev. -0.5%)

2 c. ASIAN AFFAIRS

MONDAY MORNING/SUNDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/

//NORTH KOREA/

END

2e) JAPAN

JAPAN/

3 CHINA

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

ITALY

end

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/HEZBOLLAH

FRIDAY NIGHT

Israel’s Givati Brigade uncovers Hamas intelligence in its northern GAZA stronghold

(Jerusalem Post)

Israel’s Givati Brigade uncovers Hamas intel in northern Gaza stronghold

Operational maps, command and control tables and personal details of commanders who operate within the terrorist organization, were discovered.

By JOANIE MARGULIESNOVEMBER 3, 2023 21:43Updated: NOVEMBER 3, 2023 22:15

Intelligence found in a Hamas stronghold after IDF soldiers took control.(photo credit: IDF SPOKESPERSON UNIT)

Soldiers for the Givati Brigade of the IDF took control over a Hamas stronghold in the northern Gaza Strip, uncovering documentation that could be crucial for the IDF moving forward in the war, according to a Friday statement from the IDF spokesperson.

The facility was said to house Najaba terrorists and the Jabaliya-based Hamas intelligence headquarters.

Within the stronghold, soldiers uncovered Hamas intelligence headquarters and associated documentation, complete with detailed maps, tables, means of communication and personal details about Hamas terrorists and commanders.

Similar content was found on the bodies of both captured and dead terrorists following the October 7th attacks.

Command and control charts as well as operational orders for the terrorist organization were also uncovered.

Givati brigade fighters take control over Hamas control center (credit: IDF SPOKESPERSON’S UNIT)

Givati commander weighs in

Lt. Col. Z, the commander of the Givati brigade commented on the matter. “The Givati brigade raided Gaza City. During the raid, together with the 196th battalion of the armor, the unit went into the stronghold itself, fought hard battles with terrorists, we killed quite a few, destroyed shafts, underground And we brought important intelligence materials,” he said.

He added, “We will continue to raid your strongholds and kill you inside the shafts, underground and wherever you wait for us.”

END

SATURDAY MORNING

Hezbollah uses a new powerful missile and it struck just inside Israel’s border with Lebanon. No damage as it hit open field. Israel struck back and knocked out a depot and other infrastructure.

(Jerusalem Post)

Hezbollah uses new weapon on Israel, IDF hits back in Lebanon

Among the infrastructure target by the IDF were Hezbollah rocket depots, military compounds, and other facilities being used by the terror organization.

By SAM HALPERNNOVEMBER 4, 2023 10:18Updated: NOVEMBER 4, 2023 15:13

An IDF artillery unit fires towards Lebanon near the Israeli border with Lebanon, northern Israel, November 2, 2023.(photo credit: David Cohen/Flash90)

Israel and Hezbollah traded blows on Saturday, with the IDF hitting terrorist positions and a rocket depot as Hezbollah introduced a powerful new missile, according to the Israeli military and media sources.

The IDF struck Hezbollah terror cells along with a Hezbollah observation post in Lebanon, the IDF said. The Israeli military added that the strikes were in response to Hezbollah’s recent attempt to fire from Lebanon into Israel.

An accompanying video appears to show the IDF strike.

On Saturday afternoon, IDF fighter jets targeted Hezbollah infrastructure in Lebanese territory. The strikes were further responses to Hezbollah’s rocket fire aimed at Israel.

The airstrikes were conducted in tandem with tank and artillery fire, the IDF said.

Among the targeted infrastructure were Hezbollah rocket depots, military compounds, and other facilities being used by the terror organization.

Hezbollah uses new missile

Reuters reported that a source familiar with Hezbollah’s attacks on Israel noted that the terrorist group had used a powerful missile that hadn’t been used previously in its latest attack.

The source claimed that the missile had hit an Israeli position across the border, opposite the southern Lebanese villages of Ayta ash Shab and Rmaych.

It is unclear what was struck by the missile and what damage has been caused.

end

SUNDAY

IDF finds rocket launchers next to children’s playground in Gaza

(Jerusalem Post)

IDF finds rocket launchers next to children’s playground in Gaza -WATCH

“This is further proof,” the IDF said, “of Hamas’s ceaseless use of the civilian population as a human shield for terrorist purposes.”

By JERUSALEM POST STAFFNOVEMBER 5, 2023 13:47Updated: NOVEMBER 5, 2023 14:06

IDF forces discover Hamas rocket launchers next to a children’s playground in Gaza, November 5, 2023 (IDF Spokesperson’s Unit)

The IDF released footage on Sunday that showed Hamas rocket launchers and launch pits next to a playground and a children’s swimming pool in Gaza.

“This is further proof,” the IDF said, “of Hamas’s ceaseless use of the civilian population as a human shield for terrorist purposes.”

IDF forces discover Hamas rocket launchers next to a children’s playground in Gaza, November 5, 2023 (IDF Spokesperson’s Unit)https://www.jpost.com/breaking-news/article-771783

Hamas has been accused of using civilian infrastructure such as UNRWA schools and apartment buildings as its launching pads for rocket attacks against Israel endangering the civilian population of Gaza.Hamas has built an entire network of tunnels and intricate bases underground throughout Gaza and the IDF revealed last week how the terrorist organization uses Al-Shifa Hospital in Gaza City as a command and control center.

IDF proves Hamas uses Al-Shifa Hospital in Gaza City as command and control center (IDF SPOKESPERSON’S UNIT)

end

Blinken is one big imbecile! He asked Israel to use “smaller bombs” on GAZA(Jerusalem Post)

Blinken Tells Abbas He Asked Israel To Use ‘Smaller Bombs’ On Gaza

SUNDAY, NOV 05, 2023 – 12:45 PM

US Secretary of State Antony Blinken is on another multi-day tour of the Middle East, where this time Arab leaders have finally acquiesced to meet with him as the Gaza crisis continues, at a moment the Israel Defense Forces (IDF) say that Gaza City is surrounded.

On Sunday Blinken visited Ramallah, in the Israeli-occupied West Bank, to meet with President Mahmoud Abbas of the internationally backed Palestinian Authority (PA). Blinken reportedly told Abbas that the US is pressing Israel to “minimize civilian harm”. He had some interesting ideas on how to do that.Via Reuters

Blinken had previously again met with Netanyahu Friday where according to fresh reports he pressed the Israeli prime minister to use “smaller bombs”.

“U.S. officials told the Israelis that they could reduce civilian casualties if they improved how they targeted Hamas leaders, gathered more intelligence on Hamas command and control networks before launching strikes, used smaller bombs to collapse the tunnel network and employed their ground forces to separate civilian population centers from where the militants are concentrated,” The New York Times reported.

Blinken of course stressed Israel’s “right to defend itself” but still pressed for a humanitarian “pause”. In Ramallah, he vowed to Abbas that the US will step up humanitarian aid efforts to the besieged Gaza Strip.

According to the latest grim figures, some 1.5 million Gazans have now been internally displaced:

The UN agency OCHA has said that of them, 710,275 are sheltering in 149 UNRWA facilities, 122,000 people are in hospitals, churches, and public buildings, 109,755 people are in 89 non-UNRWA schools, and the remainder are residing with host families.

Palestinian Authority leaders have charged that Israel is conducting “ethnic cleansing” – also by encouraging Palestinians to leave the entire northern half of the Strip while under bombardment.

Abbas has yet to publicly condemn Hamas’ Oct.7 terror attack, with the NY Times saying if he did so it would create severe backlash among his own population, also at a moment of increased sporadic fighting in the West Bank:

Still, he has not publicly condemned Hamas’s Oct. 7 attacks, largely out of fear of inflaming sentiment among Palestinians, with whom he is deeply unpopular. He has called more generally for a cease-fire and protections for Palestinian civilians, including in the West Bank.

Mr. Abbas echoed those messages on Sunday in his meetings with Mr. Blinken, according to Wafa, the official Palestinian news agency. It said Mr. Abbas had called for “an immediate halt” to the war in Gaza and an end to the attacks in the West Bank, which he described as “no less horrific.”

Interestingly, Abbas told Blinken that the Palestinian Authority could assume power in a post-conflict Gaza. This comes after Blinken earlier said the US remains open to the possibility of an international peacekeeping force to assume control in Gaza. Abbas stipulated the following:

But Abbas said the Palestinian Authority would only assume power in Gaza as part of a “comprehensive political solution” to the Israeli-Palestinian conflict, according to the Palestinians’ official WAFA news agency. Abbas condemned Israel’s bombardment of Gaza as a “genocidal war” and urged Blinken “to immediately stop them from committing such crimes,” the agency reported.

Over the weekend the death toll from Israel’s air and ground campaign in Gaza surpassed 9,500 killed – with some half of these being women and children. Some 240 Israeli and foreign hostages are still being held in the Gaza strip, though there are reports some may have been killed. Possibly dozens of IDF troops have been killed and wounded amid the ground operation, but Israel has been slow to publish these figures.

end

Monday

Terror in Jerusalem: Israeli-American officer murdered

The terrorist was killed by officers responding at the scene of the attack.

By JERUSALEM POST STAFFNOVEMBER 6, 2023 08:23Updated: NOVEMBER 6, 2023 19:00

Elisheva Rose Ida Lubin (photo credit: ISRAEL POLICE) Elisheva Rose Ida Lubin(photo credit: ISRAEL POLICE)

One Border Police officer was murdered and another was wounded in a stabbing terror attack by Herod’s Gate in Jerusalem’s Old City on Monday morning, Israel Police confirmed.

The fallen officer, Sgt. Elisheva Rose Ida Lubin, was in critical condition following the attack while the other officer had been lightly wounded. The attack occurred near an Israel Police station in the Israeli capital, according to reports.

The terrorist, a 16-year-old from the east Jerusalem neighborhood of Issawiya, was killed by officers responding at the scene of the attack. One person was also arrested on suspicion of aiding the attacker.

Magen David Adom paramedics treated the two wounded officers, both in their 20s, before rushing them to Hadassah-University Medical Center in Jerusalem for further treatment.

Border Police officers began collecting evidence at the scene and scanning the area to rule out the possibility of other accomplices in the attack.Israeli security forces and rescue forces at the scene of a stabbing attack outside a police station outside Jerusalem Old City, November 6, 2023 (credit: Chaim Goldberg/Flash90)

Police chief Kobi Shabtai was on his way to the scene of the attack on Monday morning.

“When I arrived at the scene, passersby said that there was a terrorist who was neutralized,” United Hatzalah volunteer Elad Revanseri was quoted as saying.Advertisement

“We provided initial treatment to a woman in her 20s who was seriously injured and a young man who sustained light injuries,” he said. “They were then transported to the hospital for further treatment.”

This is a developing story.

end

FOX NEWS//UPDATES HAMAS VS ISRAEL

(FOX NEWS)

Israel’s military could enter Gaza City, the capital of the Hamas-ruled Gaza Strip, this week: Israeli media

Israel’s military said 30 troops have been killed since the ground offensive in Gaza began over a week ago

By Lawrence Richard Fox News

Published November 6, 2023 5:59am EST

BREAKING NEWS

This should act as a major deterrent

Israel hails US nuclear submarine deployment as providing deterrence

By REUTERSNOVEMBER 6, 2023 13:53

The Israeli military welcomed on Monday the deployment of a US nuclear missile submarine in the region, which was announced on Sunday in what was widely seen as a bid by Washington to prevent the spread of the Gaza war to other fronts.

“It’s always good news to see that the Americans are moving in more assets,” military spokesperson Lieutenant-Colonel Richard Hecht told reporters. “We see this as sort of a deterring, stabilizing aspect in the region.”

END

US In Rare Move Advertises Location Of Nuclear-Capable Submarine Near Israel

MONDAY, NOV 06, 2023 – 10:50 AM

The US military build-up off Israel’s coast and especially Central Command’s (CENTCOM) willingness to advertise it openly, is cause for serious alarm in terms of the prospect for yet more Washington intervention in yet another major Middle East war.

In a very rare statement, CENTCOM on Sunday evening announced that an Ohio-class submarine has arrived in the region. The US submarine, which is both nuclear-powered and capable of carrying nuclear warheads, has arrived in an “area of responsibility” which includes the eastern Mediterranean, Red Sea, Persian Gulf, and Gulf of Oman. It is unknown and undisclosed precisely what types of advanced weapons it is carrying.Getty Images

It is the most sophisticated that exists in the US Navy arsenal. Key to the secretive nature of such an advanced sub’s movements is the ability to traverse the seas undetected, without any rival or enemy powers having any idea where it is located, thus the Pentagon almost never puts out statements confirming where a nuclear sub is at any given time.

And yet CENTCOM didn’t just issue a statement, it went so far as to publish a photograph which openly advertises its more precise whereabouts. Israeli media said this is clearly to send a strong “message” to Iran and its proxies:

While the US announcement was scarce on details, it was accompanied by an image that appeared to show a submarine in Egypt’s Suez Canal.

The arrival of the submarine in the region was apparently part of the same strategy that has seen the Pentagon dispatch two carrier strike groups in order to deter Iran and its proxies — not least the Lebanon-based Hezbollah terror group — from attacking Israel amid its war against Hamas.

Ohio-class submarines are also reportedly capable of carrying up to 154 Tomahawk cruise missiles if outfitted for guided missiles, and is part of America’s “nuclear triad” of atomic weapons.

Newsweek reviews of the navy’s Ohio classification of sub capabilities as follows:

The U.S. Navy’s Ohio-class offering consists of 14 ballistic missile submarines (SSBNs) and four cruise missile submarines (SSGNs), the latter converted to fire Tomahawk cruise missiles rather than their original nuclear-armed ballistic missile loadout.

One SSGN can be armed with 154 Tomahawk cruise missiles, significantly more than the number carried by U.S. guided-missile destroyers and attack submarines. Tomahawk missiles can carry up to a 1,000-pound high-explosive warhead out to around 1,500 miles.

The US military has also been showing off its significant assets in Middle East skies as well, with CENTCOM simultaneously issuing photos of B-1 bombers which are newly deployed in the area…

One scenario in which the Pentagon is more likely to directly intervene in the Gaza situation militarily is if Hezbollah opens a full war front on Israel’s northern border. Hezbollah chief Hassan Nasrallah in a major Friday speech, his first since the conflict began, stressed that “all options are open on our Lebanese front” and specifically addressed the US build-up off the Lebanese and Israeli coasts, saying “Your fleet in the Mediterranean do not scare us… we are ready to face the fleet you threaten us with.”

Iran’s foreign ministry has also issued a fresh statement warning that if a ceasefire in Gaza isn’t reached soon, and if Israel’s attacks on civilians continue to escalate, Americans in the region will be “hit hard” – no doubt a direct threat against US bases in Iraq and Syria.

END

Hamas exploits the use of ambulances for terror.

(Jerusalem Post)

‘Hamas exploits ambulances for terror:’ Israeli envoy slams UN chief

Gutteres was among the first to condemn Israel last month after a report that Israeli rockets struck the Al-Ahli hospital in Gaza.

By MAAYAN JAFFE-HOFFMANNOVEMBER 4, 2023 19:33Updated: NOVEMBER 4, 2023 20:26

Israel's Ambassador to the United Nations Gilad Erdan shows a video on a portable device as he speaks to an emergency special session of the United Nations General Assembly on the ongoing conflict between Israel and Hamas at U.N. headquarters in New York City, U.S., October 26, 2023. (photo credit: REUTERS/MIKE SEGAR) Israel’s Ambassador to the United Nations Gilad Erdan shows a video on a portable device as he speaks to an emergency special session of the United Nations General Assembly on the ongoing conflict between Israel and Hamas at U.N. headquarters in New York City, U.S., October 26, 2023.(photo credit: REUTERS/MIKE SEGAR)

Israel’s UN ambassador Gilad Erdan accused UN Secretary-General António Guterres of blatantly lying and denying the truth on Saturday after he condemned Israel for hitting an ambulance Israel maintained was transporting Hamas terrorists.

Guterres took to X (formerly Twitter) to say he was “horrified” by the Hamas-run Gaza Health Ministry’s report that Israel had attacked an ambulance convoy outside Al-Shifa Hospital on Friday.

“Now, for nearly one month, civilians in Gaza, including children & women, have been besieged, denied aid, killed & bombed out of their homes,” Guterres continued in his condemnation. “This must stop.”

The IDF said Friday evening that an aircraft struck the ambulance, killing several Hamas terrorists inside. The IDF noted that it had information that Hamas used ambulances to transport terrorists and weapons. It said it would look into the Hamas Health Ministry’s claim.

Hamas uses ambulance in battle

Erdan wrote on X that “once again, you rush to condemn Israel without even bothering to ask what happened. You blatantly lie regarding the lack of aid entering Gaza, and you completely ignore the fact that Hamas intentionally exploits ambulances for terror.People waving Israeli flags as they protest against Secretary-General of the United Nations António Guterres outside the UN Headquarters in Jerusalem, October 25, 2023 (credit: YONATAN SINDEL/FLASH90)

“You didn’t ask for the truth bc [because] you don’t care about the truth,” the ambassador continued. “Instead, you prefer to falsely condemn Israel while making our hostages a literal footnote. It’s absolutely disgraceful. Where was your ‘horror’ when Hamas deliberately targeted Israeli ambulances with RPGs and executed paramedics in cold blood?”

On October 7, Hamas infiltrated Israel and slaughtered more than 1,400 Israelis. It also took more than 240 people hostage in Gaza.Advertisement

Guterres was among the first to condemn Israel last month after a report that Israeli rockets struck the Al-Ahli Hospital in Gaza. Multiple independent international investigations showed that the culprit was a misfired Islamic Jihad rocket and that the strike hit a parking lot, killing far fewer people than Hamas claimed initially.

Moreover, Israel revealed information last month that proves Hamas is using Al-Shifa Hospital as a command and control center.

Reuters contributed to this report

end

IRAN/ISRAEL HAMAS/USA

Iran warns the USA that both Israel and the USA will be hit hard if GAZA ceasefire is not reached. Israel will not agree to any ceasefire unless all the hostages are released.

(zerohedge)

Iran Warns Americans Will Be “Hit Hard” If Gaza Ceasefire Not Reached, As CIA Director On Secretive Trip In Region

MONDAY, NOV 06, 2023 – 08:50 AM

On Monday Iran’s foreign minister Hossein Amir-Abdollahian claimed that the United States is desperately seeking an end to the fighting to Gaza, despite Israel being nowhere near dismantling and destroying Hamas at the moment, which is Tel Aviv’s stated aim.

The foreign minister said that “the Americans sent us a message in the past three days saying they are are seeking a ceasefire,” according to state TV.AFP/Getty Images

This could indeed be the behind the scenes messaging now being advanced as Secretary of State Blinken shuttles between capitals in the region, having most recently met with with Palestinian Authority President Mahmoud Abbas on Sunday. So far he’s on record as seeking a ‘humanitarian pause’ in the fighting.

More interesting is that the White House has simultaneously dispatched CIA Director William Burns, who arrived in Israel Sunday for top level meetings. Burns will also go to Qatar, and then Jordan and the United Arab Emirates.

As with the Ukraine war, Burns is often sent to crisis spots to relay messaging that the US administration doesn’t wish to discuss publicly. This could involve further mediation to get the hostages freed, or working toward some kind of serious ceasefire agreement centered on the hostages’ freedom.

This could be what’s behind Iran’s Monday statement claiming that the US is frantically working toward ceasefire, given also world public opinion is fast turning against Israel, as the death toll mounts – as of Monday surpassing 10,000 deaths in Gaza. Al Jazeera reports:

Palestinian Health Ministry says 10,022 people have been killed by Israeli attacks in Gaza since October 7, including 4,104 children and 2,641 women.

The ministry added that 25,408 people have also been wounded.

A US official described to Axios that Burns’ trip is to “discuss issues of mutual concern including the situation in Gaza, support for hostage negotiations, and the US commitment to continuing to deter state and non-state actors from widening the conflict between Israel and Hamas.” As for world opinion, South Africa is the latest to join a handful of Global South countries which has recalled diplomats from Israel.Via AP

Meanwhile, in light of this Iran has ratcheted its threats and messaging aimed at Washington, after its proxy arm Hezbollah has already blamed the US for overseeing the massacres in Gaza. Tehran is now warning that the US will be “hit hard” if it can’t press Israel to a ceasefire.

“Our advice to the Americans is to immediately stop the war in Gaza and implement a ceasefire, otherwise they will be hit hard,” Iranian Defense Minister Mohammad-Reza Ashtiani was quoted as saying by the semi-official Tasnim news agency on Sunday.

But importantly it remains the the Biden administration’s official positions it so say no to ceasefire, reflected in fresh statements by Blinken in Amman:

The Arab foreign ministers that Blinken met with on Saturday in Amman – from Jordan, Egypt, Saudi Arabia, Qatar, and the United Arab Emirates – issued the same demand.

But Blinken said the U.S. would not push for one.

“It is our view now that a cease-fire would simply leave Hamas in place, able to regroup and repeat what it did on Oct. 7,” he said. Instead he said that temporary humanitarian pauses in fighting would be critical to protecting civilians, getting aid in and getting foreign nationals out “while still enabling Israel to achieve its objective, the defeat of Hamas.”

A US military build-up in the region has continued, after US bases in Syria and Iraq have been targeted by ‘Iran-backed’ militias over two dozen times, resulting in troop injuries. This new Iranian threat to hit Americans “hard” no doubt is a threat to step up these attacks further, as Hezbollah leader Hassan Nasrallah also warned just days ago in a speech.

The White House could also begin to face more pressure domestically from with within the Democratic base, considering also again the death toll on the Palestinian side has just surpassed the grim 10,000 mark, with by far most of the casualties being civilians. While Biden has emphasized over and over again his “love” and commitment for Israel, the progressive wing of his base will increasingly wield influence on the issue at popular level.

END

THIS AFTERNOON, A MAJOR ESCALATION

(ZEROHEDGE)

Yemen’s Iran-Backed Houthis Launch New Wave Of Drones Against Israel

MONDAY, NOV 06, 2023 – 02:10 PM

Update(1410ET): At a dangerous moment that the United States has two carrier strike groups and a nuclear-powered submarine parked in regional waters, Yemen’s Iran-backed Houthis have launched a wave of drones toward Israel:

Yemen’s Houthis launched a new batch of drones against sensitive targets inside Israel on Monday, according to a statement from their armed forces broadcast by TV channel Al Masirah.

The statement said the targets of the drones were “varied and sensitive” and led to halting the movement in the targeted bases and airports for hours.

It’s unclear how effective they were in reaching Israeli territory, if at all. So far the Yemeni rebels have sent a handful of missiles toward Israel, reportedly with no casualties or damage.

Meanwhile, Secretary of State Antony Blinken’s whirlwind diplomacy tour of Arab capitals doesn’t appear to be yielding much fruit. On Sunday he had been in Baghdad, after which the Daily Caller points out:

Iraqi Prime Minister Mohammed Shia al-Sudani met with Iranian leadership in a show of support for Hamas one day after he met with Secretary of State Antony Blinken, according to multiple reports.

Blinken traveled to Baghdad on Sunday to express concerns to al-Sudani about increased attacks by Iranian-backed militia groups on U.S. troops stationed in Iraq, according to the State Department. al-Sudani met with Iranian leadership one day later in Tehran to praise Hamas’ Oct. 7 terrorist attacks and denounce Israel’s counteroffensive, according to a press release from Iran Supreme Leader Ali Khamenei’s office.

US bases in Iraq and Syria are still on high alert, after some two dozen drone and missile attacks from Iran-linked militant groups have occurred in the last weeks since Oct.7.

END

JERUSALEM POST

EDITORIAL

Hamas has shown the world who they truly are, and this is a gift – opinion

Do the people of Sweden feel that they will successfully integrate more than 1,000,000 Muslim immigrants from the Middle East and Africa?

By LARRY M. GOLDSTEINNOVEMBER 6, 2023 02:46Updated: NOVEMBER 6, 2023 15:34

Palestinian fighters from the armed wing of Hamas take part in a military parade to mark the anniversary of the 2014 war with Israel, near the border in the central Gaza Strip, July 19, 2023.(photo credit: REUTERS/IBRAHEEM ABU MUSTAFA)

Hamas has given us a gift that is truly priceless. It could never be purchased for any sum, and its value is beyond money. The gift is wholly unintentional, because never would Hamas gift us anything. It was not sought by us, and if it had been offered to us, not a single person of sane mind would have accepted it.

Yet here it is. And by “us,” I mean a gift for Israel, for Jews living outside Israel, for the United States, and for all those who live by Western civilization.

Hamas has opened our eyes. It has given us the gift of sight.

For Israel, this gift is far from trivial.

A house divided amongst itself

On the eve of the barbarism, Israel was a society rent by schisms between Left and Right, secular and religious, Mizrahim and Ashkenazim, pro- and anti-judicial reform. None of that is being discussed any more, neither in the press nor on the street. Demonstrators gather at Trafalgar Square as they protest in solidarity with Palestinians in Gaza, amid the ongoing conflict between Israel and Hamas, November 4 (credit: TOBY MELVILLE/REUTERS)

On the eve of the barbarism, many Israelis thought that co-existence with Hamas was possible, based on peace through prosperity, because Hamas seemed to be concerned with its people’s economic welfare. An illusion.

On the eve of the barbarism, many Israelis believed in a “two-state solution.” That, too, is no longer discussed, because our eyes are open. The barbarians will use any platform they can to kill us, including, obviously, their own state.

Hamas did not just attack – it slaughtered and recorded the slaughter with joy and pride. That is a message we understand. We understand Hamas’s intent. We also understand now that Hezbollah has 150,000 rockets that they intend to use against us. It is also clear that Iran is developing the nuclear bomb with the intent of using it against the Jews. What was unthinkable is already here. Hamas has given us that sight.

Jews outside Israel, too, have been offered this gift: Allies and friends of the Jews are, in reality, neither this nor that. Jews were among the first to support Black Live Matter, but how does that group view Jews? Can you name any gay organization that has stood up for Israel against barbarous murder? Yet Jews are beyond doubt some of the biggest boosters for gay rights.

And of course the universities, which Jews have attended in mass numbers to integrate into America – it’s fair to say that the universities have been, and still are, extremely unsupportive of Jews on campus or in the world. We now read of American Jews buying guns in record numbers, and a possible turn to the political Right after 100 years of voting Democrat.

Do these Jews see now? Have they accepted the gift of sight?

For the US, the past 10 days have witnessed dozens of attacks on US troops in Syria and Iraq by radical Islamic proxies supplied and financed by Iran.

The Iranian ambassador to the UN, in a public speech, threatens the US. Many Americans have accepted the gift of sight, but has Joe Biden? Just now the US has launched two air assaults against Iranian weapons facilities in Syria, but President Biden makes no threat or promise against Iran. Iran threatens the US, but not vice versa. Has America accepted the gift of sight?

Finally, for all those who have lived in or otherwise benefited from Western civilization, the hundreds of millions, in fact the billions of people in all inhabited continents of the globe, North and South America, Europe, Africa, Asia, and Australia: Do you think that the Islamicists, the fundamentalists, those who believe in the necessity of worldwide Islam, attack the Jews and no more?

Do you feel they will leave Christians, Hindus, and Buddhists, to continue in their non-Islamic faith? Do the people of Sweden feel that they will successfully integrate more than 1,000,000 Muslim immigrants from the Middle East and Africa?

Do the people of Paris, London, or Berlin, truly believe that violent demonstrations against Israel and astounding rises in hate crimes against local Jews will leave them untouched? Will the Evangelicals of Brazil and the Catholics of Argentina support the barbarians or civilization? All of these people have benefited so much through Western civilization, but will they defend it now?

All these groups have been offered the gift of sight.

Let them not be deluded. Let them not be confused that the barbarism has been visited solely upon a small people in an obscure corner of a tiny state in the middle of one chaotic region of the world. And let them “send not to know for whom the bell tolls. It tolls for thee” (John Donne, 1624).

The writer, a lawyer in Israel, is the father of three sons and the grandfather of one grandson, all currently serving on the line in Gaza and at the border with Lebanon.

END

EDITORIAL

JERUSALEM POST

The US has ulterior motives for deploying its forces in the region – opinion

At the end of the day, as has been the case for 75 years and will be the case for all time, Israel relies only on itself and will fight and defeat any foe, anyplace, at any time.

By ILAN POMERANCNOVEMBER 6, 2023 02:38Updated: NOVEMBER 6, 2023 15:33

THE WORLD’S LARGEST aircraft carrier USS Gerald R. Ford steams alongside USNS Laramie (T-AO-203) during a fueling-at-sea in the eastern Mediterranean Sea(photo credit: US Naval Forces Central Command/US 6th Fleet/Reuters)

In recent days, it has become clearer to many in the region and around the world why the US was so quick to announce it was redeploying and bolstering forces in the Middle East.

Contrary to the headline grabbing and somewhat frantic reporting and commentary in various parts of the domestic Israeli press, the US moves had little to do with either some imminent joint military action with Israel in the region, or an important defensive military maneuver to aid in Israel’s defense. Anyone even slightly familiar with Israel’s core national security doctrine and military capabilities could have attested to that in real time.

While it is yet unclear why Hezbollah and pro-Iranian militias in Syria did not attack in tandem with Hamas/ISIS at dawn on October 7, what is clear is that they did not join in the hours following because of the Israeli forces’ indescribable heroic halt of the initial invasion, and its unprecedented mobilization of 300,000 reservist troops within 48 hours.

As for the American announcement and subsequent deployments, as well as those by certain NATO allied states, they were critical for the defense of those nations’ assets and interests in the Middle East. Subsequently, in close cooperation between Israel and the US, these moves were leveraged very effectively for psychological warfare and public diplomacy purposes by both nations.

The public diplomacy and psychological warfare efforts were directed at both regional and international players. From the abjectly hostile to Israel global press, which consistently seeks to isolate and delegitimize Israel, to Iran, Russia, and the United Nations – the latter a tool of Israel’s enemies and critics – in attempts to stymy or even completely neutralize Israel’s exercise of its right to self-defense. US Ambassador Jack Lew presenting credentials, November 5, 2023 (credit: MARC ISRAEL SELLEM)

US solidarity in words and seeming partnership in actions in the first few days after the horrific October 7 Jihadi-new Nazi attack on Israel, contributed greatly to interdicting moves by international bodies and a potentially business-as-usual libelous international press that wished to frame Israel’s reaction as isolated from the world and lacking any support internationally. The same is true for the supportive words and actions of several of Israel’s European partners such as the United Kingdom, Germany, Italy, France, Hungary, Greece, the Czech Republic, and others. Indian Prime Minister Narendra Modi’s solidarity and support for Israel also had a substantial impact in the international arena.

Notably, French President Emmanuel Macron’s suggestion of creating an international coalition similar to the one that fought ISIS, and before that the Al-Qaeda, to fight Hamas/ISIS was perhaps the most far-reaching statement of partnership of its kind. This statement was very effective in drawing a line of good versus evil in the sphere of public diplomacy – at least for the time being.

The same was true for the initial statements of moral clarity made by US Secretary of Defense Lloyd Austin and US President Joe Biden as to the nature of Israel’s enemy. Since then, statements coming out of the administration in Washington have become less and less unequivocal in their support of Israel’s actions in self-defense, and in drawing a clear moral line.

As for the actual military and intelligence forces redeployed and reinforced in the region, what they are meant for are the US and her NATO allies’ critical security interests. A Wall Street Journal report recently helped to reveal this reality and bring it into sharper focus. The report revealed that US officials had asked Israel to delay any major ground incursion into Gaza until they could get critical air defense equipment and forces to the wider Middle East to defend US assets and personnel in the region.

With the withdrawal of US forces from Iraq and Afghanistan in the last number of years, along with a lower profile force posture in other parts of the region, the US and its allies’ military personnel and citizens in the Middle East are more susceptible, as well as more vulnerable, to Iranian and Iranian-proxy attack. Not to mention being more exposed to potential hostile actions from Russia, which still maintains a substantial presence in Syria, and has scores to settle with the US and NATO over Ukraine.

Small, relatively isolated US military facilities in Syria and Iraq make this problem even more acute. The USS Gerald R. Ford aircraft carrier, flagship of the strike group redeployed from the Central Mediterranean closer to the Eastern Mediterranean, and the USS Dwight D. Eisenhower carrier strike group, in transit from the US to the Persian Gulf, are not sufficient for the challenges and potential threats facing the US in the Middle East. Hence the appeal to Israel which has begun significant ground operations in Gaza to delay last week.

NATO forces in Cyprus

The US, as well as NATO allies such as the UK and Germany, have therefore also reportedly forward deployed special operations forces and intelligence capabilities to Cyprus where the British military maintains a large base (RAF Akrotiri), as well as to NATO ally Greece. The French navy has also deployed a helicopter carrier closer to the region ostensibly to supply humanitarian support to non-combatants in Gaza. The carrier, joining other French naval vessels in the eastern Mediterranean, is of course also capable of multiple military tasks.

These forces and capabilities would be critical if, for example, the US and other NATO and European allies were forced to evacuate their citizens and diplomatic posts in Lebanon, Syria, and Iraq, or throughout the region. This is in addition to the task of defending and potentially evacuating their military posts and assets, or conversely in providing options to effectively strike the enemy forces that are attacking them.

US bases in Syria and Iraq have in fact been attacked constantly in recent days by Iranian proxy forces, and at the time of this writing, the tepid US response has been airstrikes in eastern Syria against facilities categorized as “Iranian Revolutionary Guards affiliated” sites.

The threat to US and allied military personnel and assets from Iran and her proxies is true for the area around the Persian Gulf as well, and that is why it is an urgent priority for the US to reinforce its military capabilities in that part of the Middle East no less than in the broader region. That is why beyond the military forces already detailed, the United States also bolstered ground-based aircraft in and around the region and ordered a Marine Corps expeditionary unit with rapid reaction capabilities deployed to the Middle East.

There are two additional important interests for the US relating to Israel’s war against the Jihadi-new Nazis Hamas. The US needs to be on the winning team after a disastrous withdrawal from Afghanistan and the return of the Taliban to power, along with the war in Iraq resulting in Iran taking control, via her allies and proxies, of a large portion of the country.

There was a similar phenomenon during and after the Six Day War, when the US was not even yet Israel’s main ally and was failing to find much success in the Vietnam War. Israel’s awe-inspiring victory over multiple combined Arab armies, who had full Soviet support, served as a major inspiration and mark of honor for the free Western world.

Compound the Afghan and Iraqi debacles with the recent stagnation in Ukraine, which has deteriorated into a World War I-style war of attrition, and the ever-bolder actions of the Chinese around Taiwan and vis-a-vis America’s other East Asian allies, it becomes clear that associating closely with Israel and its uncompromising pursuit of victory is vital for the US’s image globally. Furthermore, the seeming reliability of the US as an actual ally, which it is trying very hard to project with its statements and military moves in the broader region, is another major American policy objective.

Given the failures and fumbles mentioned above, in recent years key US allies such as Japan, South Korea, the Persian Gulf States, and countries in Europe have called into question the efficacy and reliability of their alliances with the US.

The State and people of Israel greatly appreciate and salute the solidarity and support of our friends in the US and across the free world.

At the end of the day though, as has been the case for 75 years and will be the case for all time, Israel relies only on itself and will fight and defeat any foe, anyplace, at any time.

The writer is an Israeli hi-tech entrepreneur and a member of the Israel Leadership Forum. He is involved with various Israel-advocacy causes including working with Christian Zionist and pro-Israel Noahide groups.

END

Five Palestinians planning terror attacks in Israel killed in an IDF counterterrorism operation

(Jerusalem Post)

Four Palestinian terrorists killed in IDF counterterrorism operation

Four terrorists were killed during the operations in the Palestinian city of Tulkarm.

By SAM HALPERNNOVEMBER 6, 2023 17:14Updated: NOVEMBER 6, 2023 20:30

Israeli army vehicles seen during a military raid in the West Bank city of Tulkarm, in the West Bank on October 19, 2023.(photo credit: NASSER ISHTAYEH/FLASH90)

Israeli security personnel conducted counterterrorism operations in the West Bank on Monday, successfully neutralizing several terrorist targets, the IDF, Shin Bet, and Police said.

Throughout the operations, Israeli security forces located and eliminated terrorist infrastructure responsible for planning and executing shooting attacks, attacks with explosive devices, sniper attacks, and dispatching terrorists into Israel.

Four terrorists were killed during the operations in the Palestinian city of Tulkarm, the IDF stated.

Also on Monday, the Palestinian Health Ministry said that four “martyrs,” among others who were wounded, had arrived at the Tulkarm Government Hospital.

According to the Palestinian Health Ministry, the four slain terrorists are Momen Saeed Balaawi (20), Az al-Din Raed Awad (25), Jihad Mehraj Shahada (22), and Qasim Muhammad Rajab (20).Wounded Palestinians arrive at the hospital after being injured from an Israeli airstrike, in the West Bank city of Tulkarm, in the West Bank on October 19, 2023. (credit: NASSER ISHTAYEH/FLASH90)

The Israeli report conflicts with the Palestinian report regarding the ages of the dead terrorists. According to the Israeli account, Shahada and Awad, the two senior members of the eliminated infrastructure, were 24 and 28, respectively.

Dozens of terrorist attacks

All four of the deceased were responsible for dozens of shooting attacks and had been planning more, Israeli security forces said.

The Tulkarm terrorist infrastructure had been funded by terrorist elements in the Gaza Strip and abroad.

Additionally, two M16 rifles that had been used previously in attacks were seized by the security forces in the area.

To the south, in the Palestinian town of Beit Fajar, the Palestinian Health Ministry said that three had been wounded, including one in critical condition, by Israeli forces.

The Health Ministry subsequently stated on Monday evening that the individual in critical condition, Yousef Jalal Mahmoud Taqatqa (18), had later succumbed to his wounds.

UKRAINE VS RUSSIA

Russia unleashed its biggest drone attack on Ukraine

(zerohedge)

Russia Unleashed Biggest Drone Attack On Ukraine In Weeks Friday

SATURDAY, NOV 04, 2023 – 08:45 AM

Ukrainian officials on Friday said Russian forces launched their biggest drone attack on Ukraine in weeks, which is being seen as preparation for more fighting to come this winter.

Russia sent some 40 kamikaze drones and a cruise missile, with the Ukrainian military saying it shot down up to half of the drones and intercepted the inbound missile. Ukrainian anti-air systems were reported to be active across ten regions, including in western Lviv, which is far from the front lines of fighting in the east and south. Image source: AFP

Ukraine’s President Zelensky condemned the broad assault, saying “As winter approaches, Russian terrorists will try to cause more harm.” While there were no casualties reported, he posted a video showing firefighters battling a huge blaze after a drone impacted a building.

Zelensky vowed to a war-ravaged and weary nation, “We are strengthening air defense. We are strengthening mobile fire groups.”

The New York Times has documented, “Data from the Ukrainian military shows that Russia has recently increased its drone assaults against Ukraine, targeting it with nearly 650 Iranian-made Shahed drones in the past two months, compared with about 450 in July and August.”

Separately on Friday a NYT op-ed has claimed that Russia, China, and Iran are banding together to give support to Hamas and Iranian proxies in the Mideast region, which heightens tensions and the potential for a broader war:

“The conflict between Israel and Hamas is fast becoming a world war online. Iran, Russia and, to a lesser degree, China have used state media and the world’s major social networking platforms to support Hamas and undercut Israel, while denigrating Israel’s principal ally, the United States,” authors Steven Lee Myers and Sheera Frenkel wrote.

“Iran’s proxies in Lebanon, Syria and Iraq have also joined the fight online, along with extremist groups, like al-Qaida and the Islamic State, that were previously at odds with Hamas,” they said.

The op-ed ultimately concludes with this claim: “While Iran, Russia and China each have different motivations in backing Hamas over Israel, they have pushed the same themes since the war began. They are not simply providing moral support, the officials and experts said, but also mounting overt and covert information campaigns to amplify one another and expand the global reach of their views across multiple platforms in multiple languages.”

The Biden administration has actually made similar accusations, charging that Moscow wishes to sow destabilization in the Middle East, and also condemned the Kremlin for hosting a Hamas delegation last month for crisis talks related to the situation in Gaza.

https://www.zerohedge.com/geopolitical/russia-unleashed-biggest-drone-attack-ukraine-weeks-friday

END

RUSSIA/UKRAINE/EUROPE

European officials are quietly nudging Ukraine to seek peace

(zerohedge)

Game Over: US, European Officials Quietly Nudge Ukraine To Seek Peace

SATURDAY, NOV 04, 2023 – 12:50 PM

With the world’s attention squarely fixed on the Israel-Gaza war — while baseless hope for a Ukrainian expulsion of the Russian army has evaporated — US and European officials have started quietly conferring with Ukraine on potential concessions that could bring the war to an end, NBC News was first to report Friday evening.

These discussions aren’t about a new counteroffensive — they’re about what concessions Ukraine could live with pursuant to a peace agreement. Some of the conversations, which officials describe as delicate, happened during an October meeting of the Ukraine Defense Contact Group, an affiliation of more than 50 governments siding with Ukraine.

In eyebrow-raising comments to the The Economist this week, Ukraine’s top commander admitted there will be no breakthrough and the battlefield situation is in a stalemate. The New York Times characterized his remarks as “the first time a top Ukrainian commander said the fighting had reached an impasse.”

In September, the Times itself splashed cold water on anyone who still believed Ukraine had any hope of pushing the Russian army out of eastern and southeastern Ukraine, much less Crimea. Its detailed analysis found that, in the wake of a Ukrainian counteroffensive, “Russia now controls nearly 200 square miles more territory in Ukraine compared with the start of the year.” ISW‘s assessed control of terrain in Ukraine as of November 3 2023

Russia’s territorial gains are close to matching the goals President Vladimir Putin outlined at the start of what he calls a “special military operation.” He said Russia sought to secure Ukraine’s Donetsk and Luhansk oblasts (provinces), which he recognized as republics shortly before the invasion. Russian forces now control nearly all of those areas, which are together called the Donbas.

Russia also controls most of the Zaporizhzhia and Kherson oblasts, giving Russia a land bridge to the Crimean Peninsula, which Russia annexed in 2014 after a Western-aided overthrow of a democratically elected president and the installation of an anti-Russia government in Kiev. Crimea and the eastern provinces of Ukraine have heavily ethnic-Russian populations.

The front lines have moved little in recent months. In anticipation of Ukraine’s highly-hyped 2023 counteroffensive, Russia was content to install formidable defensive fortifications and allow the Ukrainian army to degrade itself and achieve nothing.

In its match-up with a far larger country, Ukraine’s ability to refresh its military ranks is vanishing fast. “Manpower is at the top of the administration’s concerns right now,” an official told NBC. The West can keep sending them weapons, “but if they don’t have competent forces to use them it doesn’t do a lot of good.” Even the most optimistic western warmongers must acknowledge the coming winter guarantees Ukraine won’t accomplish anything for months.

In the wake of Ukraine’s costly and futile counteroffensive, Washington’s proxy war with Russia is facing strong headwinds at home:

The war between Hamas and Israel has diverted public attention and sapped the war state’s ability to propagandize voters. Indeed, Biden’s Oval Office address appealing for aid for Ukraine and Israel was originally planned to focus solely on Ukraine, NBC reports.
The US public’s pro-Ukraine fervor has cooled: A new Gallup poll found 41% say the US is doing too much for Ukraine — a big leap from the 29% who said that in June. Many Americans think that money should be used to improve conditions at home.
A growing number of congressional Republicans have put away their rubber stamp for Ukraine aid, and have thus far thwarted Biden’s request for $61 billion in additional funding for the war. Biden’s ploy of a joint funding request that combines controversial Ukraine aid with Israel aid is in grave jeopardy, as House Republicans demand separate votes.

Washington’s blank-check support for Israel’s destruction of Gaza is further straining an already Ukraine-sapped American arsenal. Tens of thousands of artillery shells that had been earmarked for Ukraine are being redirected to the IDF. Even before Hamas attacked Israel, an increasingly severe shortage of conventional shells for the artillery-heavy war in Ukraine led Biden to give Zelensky toxic, depleted uranium shells, stirring an international outcry.

As for what it would take for Zelensky to surrender the international spotlight and agree to peace, we’re guessing a big deposit to a Swiss bank account would do just fine. However, officials are pondering some type of Western security guarantee that stops short of NATO membership. The specter of Ukraine become a NATO member played heavily in Moscow’s motivation for invading. The war has been a crisp illustration of Richard Sakwa’s brilliant assertion that “NATO exists to manage the risks created by its existence.”

Just weeks after Russia’s 2022 invasion, Russia and Ukraine had reportedly tentatively agreed to a peace deal in which Russia would withdraw to an extent that it would still control portions of the Donbas, in exchange for Ukraine forswearing its NATO ambitions while having security deals with several states. Via a visit from then-British Prime Minister Boris Johnson, the Western war machine, eager for a proxy war, seems to have pressured Zelensky to break off the talks. Months of misery ensued, with only the military-industrial complex and Ukraine’s aid-scraping bureaucrats better off for it.

END

TURKEY

We have been reporting the steady decline in the value of the Turkish lira due to major inflation plaguing the nation

(French/Mises Institute)

Turkey Is Sustaining Major Inflation. Something Has To Give

MONDAY, NOV 06, 2023 – 02:00 AM

Authored by Doug French via The Mises Institute,

Bloomberg reports that price inflation in Turkey was more than 60 percent in September. The 61.5 percent reading was released by the Turkish government’s statistical office.

Being on the ground in Turkey for Hans-Hermann and Gülçin Hoppe’s Property and Freedom Society meeting, I can say the vibe was not hyperinflationary. The shelves are not empty and the port city of Bodrum is booming.

Professor Hoppe told the crowd Bodrum has grown from a population of fifty thousand to a million for the whole peninsula.

No matter the destruction to the Turkish lira, money keeps pouring into peninsula real estate, watercraft, and businesses.

“According to statistics by the Turkish Statistical Institute, the average property price in Bodrum in 2021 was around $490 per square foot,” wrote Spencer Elliott for Forbes this past summer.

“Over the last decade, property values have increased dramatically, with the total valuation of the real estate transactions in Bodrum rising from $892 million in 2010 to over $2.1 billion in 2020.”

I wrote in 2011, “In 1966, one US dollar bought 9 lire. By 2001, a dollar bought 1.65 million lire. Four years later, six zeros were lopped off the lira and a dollar equaled 1.29 new Turkish lire. Today, a dollar can be traded for around 1.60 lire.”

This year (2023) a single US dollar fetches twenty-five lire at the currency shops in Bodrum.

Government jiggery-pokery with the currency is a way of life in Turkey. Numerous episodes are mentioned by the eminent scholar the late Norman Stone, who was a frequent speaker at the Property and Freedom Society, in his book Turkey: A Short History. But it was not paper and zeros that were manipulated. Writing about Constantinople in 1651, Stone explained that the one hundred thousand local civil servants “were paid in copper money and were expected to pay their taxes in silver . . . [which] brought about a revolt of the guilds.”

But today’s Turkey, which now wants to be known as “Türkiye,” is not Venezuela or Zimbabwe. A trip over the hill from Bodrum to Merkez Mah, Çökertme Cd, Yalıkavak Marina revealed Dior, Gucci, and other high-end shops a sidewalk away from one multimillion dollar yacht crammed next to another. Dinner at Salt Bae’s Nusr-Et Bodrum was had amongst beautiful people, with amazing cuisine, tableside flair bartending, and an unforgettable sunset into the shimmering waters of the Aegean Sea.

Hyperinflation seemed pretty good.

Turkish restaurant cuisine has changed subtly over the seventeen years of the Property and Freedom Society. Döner kebab was once offered everywhere. It is a type of kebab using a vertical, constantly rotating spit to slow-roast the meat. The meat is sliced off of it in chunks as it rotates.

Now there are fewer Döner kebabs, and restaurants in the Bodrum harbor area are advertising hamburgers. American burger darling Shake Shack even has a location in the Istanbul airport amongst the duty-free shops that appear every few steps. And at the new, immense Istanbul airport, a passenger must take plenty of steps.

As always, I indulged myself in the Turkish haircut experience, going to the same neighborhood barber I’d patronized on previous trips. Of course, the price reflected the inflation, three hundred Turkish lire. In 2012, the same haircut, nose and ear waxing, and shoulder massage went for twenty Turkish lire, which was twelve dollars at the time. Today’s three hundred lire equals that same twelve dollars.

Other conference goers found a barbershop down near the docks and were charged fifty dollars for the above-mentioned services plus a straight-edge shave. One wonders if it was a bit of selective pricing. I’ve never noticed barber service pricing being posted in a Turkish barber shop so a deal should be made up front.

According to Bloomberg, “Turkey’s inflation print for September sets the stage for a front-loaded move from the central bank to tame price gains. Underlying price pressures signal a higher trajectory for inflation, which we now see peaking at 73 percent in 2Q24, up from our earlier call of 70 percent.”

One knowledgeable Bodrum local confidently said the actual inflation rate was more like 160 percent.

The national minimum wage was raised 34 percent in July to $483 (11,402 lire) monthly, Reuters recently reported.

Labor minister Vedat Isikhan said, “The minimum wage assessment commission completed its work with an agreement between the workers and employers.”

The minimum wage was raised 100 percent last year.

The Turkish central bank bumped its benchmark one-week repo rate by 5 percentage points to 30 percent late last month to slow down the inflation rate.

The rate rise came just weeks after President Recep Tayyip Erdoğan, who once called high interest rates the “mother and father of all evil,” publicly embraced “tight monetary policy,” reported the Financial Times.

Inflation always hits low-income earners the hardest, as they must spend most of their income on food, gas, and rent. Remember the monthly minimum wage from above – it is enough to buy eighty-two gallons of gasoline, which currently goes for 138.849 lire per gallon, and nothing else.

6,VACCINE/COVID ISSUES & GLOBAL ISSUES

GLOBAL ISSUES

END

GLOBAL VACCINE/COVID ISSUES

ROBERT H FOR US;

Russia Release Damning 2,000 Page Report Proving COVID Was a Globalist Bioweapon

Can one accept such truth ??

https://rumble.com/v3axptu-russia-release-damning-2000-page-report-proving-covid-was-a-globalist-biowe.html

end

DR PAUL ALEXANDER

John Leake (Dr. McCullough’s co-author) asks: “What Caused Matthew Perry’s Death? LA County coroner’s office promises to do its job.” I think Leake is over target for it may well be that Perry died

due to the mRNA technology COVID gene injection vaccine; I think until proven otherwise, we must maintain this as a viable cause and that we are looking at a DAMAR HAMLIN cardiac arrest in the tub

DR. PAUL ALEXANDERNOV 4

READ IN APP

Courageous Discourse™ with Dr. Peter McCullough & John Leake

What Caused Matthew Perry’s Death?

Another day, another prominent man dies a quarter century shy of life expectancy. I just saw a story in the Los Angeles Times proclaiming that the Los Angeles County coroner’s office promises to conduct a thorough investigation of Matthew Perry’s death…

a day ago · 262 likes · 133 comments · John Leake

‘Another day, another prominent man dies a quarter century shy of life expectancy. I just saw a story in the Los Angeles Times proclaiming that the Los Angeles County coroner’s office promises to conduct a thorough investigation of Matthew Perry’s death.

I’m encouraged to see that the coroner is (apparently) going to do his job in this case. I wonder if he will examine the possibility that Mr. Perry’s COVID-19 shots and boosters may have caused or contributed to his death.

According to the L.A. Times story, Perry had played pickle ball a few hours before his death and was having an afternoon soak in his hot tub when he was found by an assistant at 4:00 p.m. Sitting in the hot tub causes blood vessels to dilate, causing blood pressure to drop, thereby triggering the heart rate to increase to maintain blood flow.

While much has been made of Perry’s history of drug and alcohol addiction, he has apparently been sober for some time. Law enforcement told the LA Times that no drugs were found in his home, and foul play is not suspected.

We hope the coroner’s autopsy report will be illuminating.’

Mathew Perry, sad death, yes, found him in his tub, very sad, condolescences to family, BUT did he die, did he suffer a cardiac arrest, DUE to the COVID mRNA technology gene vaccine (Pfizer, Moderna,

BREAKING: Three SPANISH parents report to Health for sudden death of their children after receiving the COVID vaccine; Juan José, Marvelous & Daniel were 12, 13 & 14 years old, respectively, & died

suddenly while playing sports; parents suing Spanish governments & ministers of health; we MUST investigate in proper courts & judges, if guilty of bribes, imprison & hang doctors & politicians

DR. PAUL ALEXANDERNOV 3

READ IN APP

https://theobjective.com/espana/2023-09-22/padres-denuncian-sanidad-muerte-covid/?utm_source=substack&utm_medium=email

It is time more parents did this, if their child died from these deadly mRNA technology vaccines.

‘Their names are Juan José Quirós López , Marvelous Ounanefe Johnson Andrews and Daniel Herce Rodríguez . They were 12, 13 and 14 years old, respectively. No previous history of pathologies. They died suddenly from hypertrophic heart disease – the first two – and cardiac arrhythmia. His parents, who assure THE OBJECTIVE that they were “perfectly healthy” before the inoculation, attribute it to the Covid-19 vaccine , and this Thursday they filed a complaint with the State Attorney General’s Office for homicide due to serious recklessness. genetic manipulation, threats, coercion, public health, prevarication, against moral integrity with damage to life and abuse of authority.

Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Subscribed

This medium has accompanied the parents to file the complaint, which has been drafted by the Liberum Association , and which is directed against the former Ministers of Health Salvador Illa and Carolina Darias . Subsequently , they have gone to the Ministry located on Madrid’s Paseo del Prado to hand it over with the intention of having their cases investigated. They have been asking for it for a year, but it has been in vain.

“We want justice to be done, and for more parents to join our complaint,” they sob before this journalist. Daniel died suddenly while he was lying on the couch in his house . “I thought he had fallen asleep, but then he wouldn’t get up,” recalls Diana, his mother. His son had been inoculated with batch FG7898, which has reported adverse effects . Marvelous and Juan José, on the other hand, had been injected with the same batch of the Pfizer vaccine, FG9428 . Both died suddenly, one playing soccer and the other in the school yard .

Daniel Herce (14 years old), Marvelous Ounanefe Johnson Andrews (13) and Juan José Quirós (12).

The complaint, to which THE OBJECTIVE has had access in its entirety, regrets that “the administrations and health authorities want [the parents] to believe that these deaths should be classified as natural deaths, and that they have not even considered the possibility.” of the recognized adverse effect of the vaccines against COVID-19, so that, in addition, one of the minors [Juan] became infected with SARS-CoV-2, after two inoculations, testing positive for the post-mortem PCR .

The parents report that their offspring were “perfectly healthy ,” and that they only began to experience respiratory complications after inoculation. “My child began to suffocate when he was running, it had never happened to him before,” says Soledad, representing the parents of the young man from Malaga, who are still too “affected” to have been able to appear at the Prosecutor’s Office. She still cries when, when reviewing the text of the complaint, she sees the image of her nephew’s corpse.

A “natural death”?

The parents denounce that the only explanation they received is that their children, minors, had died “naturally”, and that it was probably due to a “hereditary” issue. « How can it be natural for a 12-year-old boy, an athlete, to die suddenly? », cries Soledad , Juan José’s aunt. Félix , Marvelous’s father, has already undergone numerous cardiac tests .

Health admits that 14 batches of the covid vaccine caused 200 deaths in Spain

Marcos Ondarra

“It seems that the Forensic Medicine Institute is desperately looking for one of the parents to have a heart condition ,” denounces Alexis Aneas , a Liberum lawyer who represents the complainants. He remembers that Félix’s son “had federation recognition in September and they declared him fit to play.” He died in December. The complaint states that the deceased’s heart was “increased in size”: 480 grams when it should have been around 344.

“Pfizer recognized early on that tens of thousands of effects of myocarditis had been recorded in young people ,” recalls Aneas, who is also an expert in health issues, which abounds: “It makes sense because the age range where pathologies appear is from 12 to 15 years old, who received the adult dose. From 5 to 11, the vaccine has one third of the composition. The condition can occur because the Spike protein that is replicated by the vaccine lodges in the receptors of the heart tissue and generates an autoimmune disease, which causes thickening of the myocardium, which is known as pericarditis or arrhythmia.

The covid pandemic caused one hundred million other vaccines not to be administered

Lidia Ramirez

Effects of covid vaccines

Alexis Aneas also wonders “how it is going to be natural for a child athlete to die from an arrhythmia.” The Liberum spokesperson says that they are “fed up with administrations telling us that people die by chance,” and points to Daniel’s case. “He had neuronal damage that could be due to the fact that the substance generates prions that cross the brain barrier, as demonstrated by a study that we attach to the complaint,” he suspects, since “what we want is for it to be investigated.”

The complaint is also directed against the president of the Spanish Agency for Medicines and Health Products (AEMPS), Silvia Calzón , and the director, María Jesús Lamas , as well as “any other authority who, from the investigation actions, derives responsibility.” criminal for the events reported.

In this, he charges against Pfizer and Moderna , stating that “according to the clinical trial, in the vaccinated group, eight cases of COVID-19 were recorded out of a total of 18,198 participants 7 days after receiving the second dose; while in the placebo group, 162 cases were recorded among 18,325 participants.

Complaint against the Medicines Agency for “hiding” the effects of covid vaccines

Marcos Ondarra

With these data the laboratory announced a 95% effectiveness of the vaccine compared to those not inoculated. But from Liberum they denounce that “this way of expressing the effectiveness of a medication is biased and misleading”: “In absolute terms, the reality was that the incidence of CRP+ had been 0.8% in the placebo group (162/18,325) , compared to 0.04% of the vaccinated group (8/18,198), a difference of 0.76 %. Based on this data, they ask “why children had to be vaccinated, when the best interests of the minor should prevail, if they are not a reservoir of this disease.”

Calling more parents

This is the first complaint in which parents ask the authorities to account for the death of their infants after inoculation against Covid-19. The Diario de Sevilla reported last June how at least seven people had reported serious injuries to Health after receiving any of the doses of the coronavirus remedy. One of them, represented by the law firm of Fernando Osuna , claimed more than one million euros for having lost “97% of his vision,” in addition to having limitations in his legs.

The intention of the complaint is also to call other parents who find themselves in a similar situation to action. “These three deaths of young athletes, or performing physical activity, are not the only ones in our country,” reads the complaint, which exposes dozens of cases, with screenshots from journalistic publications, of deaths of other minors doing sports.’

END

EVOL NEWS

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

end

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

Europe continues to gorge on LNG. Its gas storage has hit record highs but winter worries persist

(zerohedge)

Europe’s Gas Storage Hits Record High But Winter Worries Persist

MONDAY, NOV 06, 2023 – 09:10 AM

Authored by Irina Slav via OilPrice.com,

Europe’s gas storage is nearly full, yet this may not be sufficient for winter needs, leading to continuous LNG imports and additional storage strategies including utilizing Ukraine’s facilities.
Germany and other EU members have inked long-term LNG supply contracts, stretching beyond the 2050 net-zero target, indicating a realistic approach to energy needs versus idealistic energy transition goals.
Think-tank IEEFA warns that the EU could be over-investing in LNG import capacity as demand is projected to decline, pointing to potential mismatches between infrastructure and actual gas requirements.

Earlier this week, reports emerged that Chevron was negotiating LNG deliveries for the European Union, looking at contract terms of 15 years.

The news followed three other long-term deals that European energy companies closed with Qatar, one of the world’s largest exporters of LNG, in the past month.

Germany has installed three floating LNG import terminals over the past year or so and is now working on three more. The EU, which has emerged as the biggest importer of U.S. LNG this year, recently boasted that gas storage is almost 100% full.

Despite all this, the bloc is nowhere near ready for winter. Also, it does not seem to be prepared for an energy transition.

Media reported this month that European countries were starting to store gas in Ukraine as their own storage caverns filled up with regasified LNG bought earlier this year. Close to 30 LNG tankers are now on their way to European ports and are due to arrive by the end of the month. Those include three Russian vessels carrying liquefied gas, despite declarations the EU had given up Russian hydrocarbons.

All this suggests that the European Union’s efforts to reduce its members’ dependence on hydrocarbons have yet to start paying off. After all, EU countries have been investing robustly in new wind and solar generation capacity. And for all those investments, they are now gobbling up as much LNG as they physically can to secure electricity and heating supply for the winter. Even though storage is full.

The issue of the EU’s gas storage is an interesting one. Right now, gas in storage is at a record high. This is good news for the EU, of course, but here’s the twist: even 100% full storage capacity would not ensure supply over the winter, hence all those LNG tankers arriving this month and probably next month as well.

The problem—which is one of those problems that cannot be easily solved—is that no EU member has storage capacity equal to 100% of its demand for any meaningful period of time. This is why imports continue to be strong despite the full caverns.

This is also why the EU is storing gas in Ukraine despite the threat of war-related disruptions or storage loss. This is also why Shell, Eni, and TotalEnergies all closed long-term LNG supply deals with Qatar Energy in the past month.

Limited storage capacity and lack of local production is also the reason why, despite the assurances that there is enough gas for the winter, Germany’s electricity market regulator recently said consumption needs to remain curbed to ensure adequate supply during the winter.

Consumption is likely to remain curbed, whatever the amount of gas in storage or new shipments of LNG. The reason: a tight global LNG market. This tightness itself is the result of Europe embracing the liquefied fuel to replace more than 100 billion cu m of Russian pipeline gas that is no longer available. Perhaps last year’s declarations that the EU can do perfectly well without any Russian gas were a bit premature. What was even more premature were arguments that the EU could do without any gas at all and rely only on wind, solar, nuclear, and hydro, possibly with some hydrogen in the mix.

The clearest signal that this is quite unlikely are those deals for Qatar LNG imports, each of which has a term of 27 years. This brings them beyond the EU’s net-zero target year, 2050. The companies that closed the deals, however, know that there is a big difference between what can be hoped for and what can realistically be achieved, and total gas independence appears to not be among the latter.

At the same time, the EU may be overstretching itself in light of its own ambitions. Pro-transition think-tank the Institute for Energy Economics and Financial Analysis said in a recent report that the EU is overbuilding LNG import capacity.

In a recent report, the IEEFA cited new LNG import capacity additions of 36.5 billion cu m since the start of 2022, adding that LNG consumption in the region had only added 4.8 billion cu m since the start of 2023 after soaring by 46.2 billion cu m last year.

The NGO also said that import capacity is set to continue expanding until it reaches 406 billion cu m in 2030, but demand for gas over the same period is set to decline to 400 billion cu m.

It’s worth bearing in mind that forecasts are not set in stone, especially when it comes to energy demand by different sources, yet it is quite reasonable to expect that high LNG prices will put a natural cap on demand in Europe. Alas, these prices would also cap economic growth, whose dependence on affordable, reliable energy Europe was reminded of over the past two years.

end

Oil Gains As Saudi Arabia And Russia Stick To Oil Production And Export Cuts

MONDAY, NOV 06, 2023 – 12:50 PM

Saudi Arabia and Russia have confirmed they will extend their voluntary production and export cuts until the end of the year in a largely expected move to keep a lid on a solid portion of global supply, OilPrice reported. The news helped reverse some of oil’s sharp losses from last week.

“This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” Reuters quoted a statement from the Saudi energy ministry as saying.

Saudi Arabia has been producing around 9 million barrels daily, effecting a voluntary reduction of some 1 million bpd. Russia, for its part, has undertaken to reduce exports by 300,000 bpd and production by half a million barrels daily.

“The additional voluntary cut is intended to strengthen the measures taken by OPEC+ countries to maintain the stability and balance of oil markets,” Deputy Prime Minister Alexander Novak said on Sunday.

Commenting on the Saudi and Russian updates, ING’s Warren Patterson and Ewa Manthey noted that this extension was expected but the market would be interested in whether the two would extend the cuts further into 2024. This might suggest the current extension was unlikely to have any immediate effect on prices but an extension into 2024 might move the benchmarks.

“Our oil balance shows that the market will be in surplus in 1Q24, which may be enough to convince the Saudis and Russians to continue with cuts through the seasonally weaker demand period of Q1,” the analysts wrote.

Prices moved up modestly after the Saudi and Russian announcements after both Brent and WTI booked a second losing week in a row last week. The biggest reason for the recent drop in prices looks to be the waning war premium from the war between Israel and Hamas, which appears to be contained for the time being and not a direct threat to Middle Eastern oil supply.

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 MONDAY MORNING 7;30AM//OPENING AND CLOSINGS

EURO VS USA DOLLAR: 1.0751 UP 0.0027

USA/ YEN 149.61 UP .440 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2425 UP 0.0034

USA/CAN DOLLAR: 1.3643 DOWN .0003 (CDN DOLLAR UP 3 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 27.61 PTS OR 0.91%

Hang Seng CLOSED UP 302.47 PTS OR 1.71%

AUSTRALIA CLOSED UP 0.28% // EUROPEAN BOURSE: ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL RED

2/ CHINESE BOURSES / :Hang SENG UP 302.47 PTS OR 1,71%

/SHANGHAI CLOSED UP 27.61 PTS OR 0.91%

AUSTRALIA BOURSE CLOSED UP 0.28%

(Nikkei (Japan) CLOSED UP 758.59 PTS OR 2.37%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 1986,10

silver:$23,17

USA dollar index early MONDAY morning: 104.75 DOWN 11 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing MONDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.398% UP 9 in basis point(s) yield

JAPANESE BOND YIELD: +0.871% DOWN 4 AND 2//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.785 UP 9 in basis points yield

ITALIAN 10 YR BOND YIELD 4.569 UP 9 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.7255 UP 8 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.0746 UP 0.0022 or 22 basis points

USA/Japan: 149.69 UP .520 OR YEN DOWN .52 basis points/

Great Britain/USA 1.2396 UP 0.0024 OR 24 BASIS POINTS //

Canadian dollar DOWN .0024 OR 24 BASIS pts to 1.3671

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The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.2702

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2748)

TURKISH LIRA: 28.44 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.871…VERY DANGEROUS

Your closing 10 yr US bond yield UP 8 in basis points from FRIDAY at 4.636% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.821 UP 7 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.864 DOWN 11 BASIS PTS.

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

London: CLOSED UP 0.03 POINTS or 0.00%

German Dax : CLOSED DOWN 53.28 PTS OR 0.35%

Paris CAC CLOSED DOWN 33.77 PTS OR 0.48%

Spain IBEX DOWN 52.40 PTS OR 0.56%

Italian MIB: CLOSED DOWN 82.33PTS OR 0.29%

WTI Oil price 81.62 12: EST

Brent Oil: 85.78 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 92.39; ROUBLE UP 0 AND 3//100

GERMAN 10 YR BOND YIELD; +2.7295 UP 7 BASIS PTS

UK 10 YR YIELD: 4.4105 UP 7 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0721 DOWN 0.0004 OR 4 BASIS POINTS

British Pound: 1.2344 DOWN .0028 or 28 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.423% UP 10 BASIS PTS//

JAPAN 10 YR YIELD: .874%

USA dollar vs Japanese Yen: 149.99 UP .815 //YEN DOWN 82 BASIS PTS//

USA dollar vs Canadian dollar: 1.3695 UP 48 CDN dollar DOWN 48 basis pts)

West Texas intermediate oil: 80.96

Brent OIL: 85..20

USA 10 yr bond yield UP 11 BASIS pts to 4.664%

USA 30 yr bond yield UP 8 BASIS PTS to 4.883%

USA 2 YR BOND: UP 11 PTS AT 4.937 %

USA dollar index: 104.93 DOWN 105 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 28.44 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 92.39 UP 0 AND 3/100 roubles

GOLD 1979.10

SILVER: 23.03

DOW JONES INDUSTRIAL AVERAGE: UP 34.54 PTS OR 0.10%

NASDAQ UP 55.44 PTS OR 0.37%

VOLATILITY INDEX: 15.10 UP .19 PTS (1.27)%

GLD: $183.35 UP 1.44 OR 0.78%

SLV/ $21.08 DOWN .14 OR 0.66%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

Russell 2000 & Regional Banks Slammed As Yields & Crude Rebound

BY TYLER DURDEN

MONDAY, NOV 06, 2023 – 04:00 PM

No US macro data today… and no World War 3 over the weekend… provided some early support for US equity futures but the cash open prompted growth over value purge (as small caps were clubbed like a baby seal and Nasdaq saw a modest bid)…

Source: Bloomberg

By the close, Russell 2000 was ugly while the rest of the majors found support around unch (with Nasdaq outperforming). There was a mini-melt-up in the last minute of the day….

One thing of note was that around 1300ET, a large sell program hit the market…

Source: Bloomberg

Small Caps reversed at their 50DMA (while the rest of the majors pushed above that level from Friday but couldn’t extend gains)…

Cyclicals underperformed Defensives today…

Source: Bloomberg

‘Most Shorted’ stocks were hammered all day as no squeeze was engineered…

Source: Bloomberg

Regional Banks gave back about half of ‘guru’ Gross’ gains from Friday…

But while stocks managed to cling to gains, bonds did not…

Source: Bloomberg

Yields were higher across the curve with the short-end underperforming (2Y +10bps, 30Y +6bps) BUT we note that the corporate bond calendar was relatively heavy today and likely drove the longer-end higher at least in some part…

Source: Bloomberg

The 10Y yield erased all of Friday’s post-payrolls plunge…

Source: Bloomberg

Notably, the 10Y Yield found support at its 50DMA on Friday and extended that today…

Source: Bloomberg

The dollar ended basically unchanged after weakness overnight was bid back during the US day session…

Source: Bloomberg

Bitcoin was marginally higher on the day, hovering around $35,000…

Source: Bloomberg

Gold leaked lower with futures unable to bounce back above $2000…

Oil managed to hold on to overnight gains, even as selling pressure pushed WTI back below $81 in the afternoon…

Finally, as we have detailed numerous times in the last week – be careful what you wish for when it comes to ‘tightening financial conditions’. As Bloomberg’s John Authers wrote this morning, monetary policy, Powell has reminded us, works through tightening financial conditions and deterring economic activity. That takes time to work its way through the system. Or, in the words of Milton Friedman, it has a lag. Of late, Powell has been emphasizing the work that tighter conditions – principally the higher 10-year yield – are doing for the Fed. That cheered many by suggesting that higher rates wouldn’t be necessary, and that’s probably been confirmed by the events of last week.

However, as we have highlighted, various problems remain as if it’s the market that has made conditions tighter, it follows that it can also make them looser. Buying things like credit because tight conditions mean there will be no more rate hikes is self-defeating, as it loosens conditions again.

As the Goldman Sachs financial conditions index (defined by its inventors as a weighted average of riskless interest rates, the exchange rate, equity valuations, and credit spreads, with weights that correspond to the direct impact of each variable on GDP), shows, conditions were as tight as they had been all year to start last week, and since then they’ve dropped more than half of the way toward neutral…

Source: Bloomberg

Authers echoes our views perfectly, this is a classic example of what the financier George Soros calls “reflexivity” – the capacity of markets to create their own reality, and not just reflect an external state of affairs.

In fact, the more dovish The Fed sounds (or not hawkish) and the more it mentions the market “doing its job for it via tightening financial conditions”, the more The Fed will be forced to step back into the hawkish mud and slow the market’s exuberance for fear of reigniting asset inflation (as well as ‘real’ inflation).

This is key now as, amid an avalanche of FedSpeak this week, the main speaker is Powell at the IMF conference on Thursday. Last Wednesday he talked about tighter financial conditions doing some of the Fed’s work for them. After the huge 60/40 rally since, will he still feel the same way by Thursday?

EARLY MORNING TRADING/THIS AFTERNOON/

TUCKER CARLSON

II USA DATA

Huge non adjusted $33 billion bank deposit outflow

it is getting really bad for the banks

(zerohedge)

Fed F**kery Turns Massive $33BN Bank Deposit Outflow Into $51BN Inflow

FRIDAY, NOV 03, 2023 – 04:40 PM

Bank stocks soared this week (along with everything else) despite another jump to a new record high for bank’s usage of The Fed’s emergency funding facility, and the massive deposit run the prior week.

Probably better not to show Bill Gross this chart…

Source: Bloomberg

So, what fun and games will The Fed do this week to ‘adjust’ the data so we don’t panic about a sudden bank run?

On a seasonally-adjusted basis, total bank deposits rose by $52.2BN…

Source: Bloomberg

However, total bank deposits – unadjusted – fell by $22.3BN to its lowest since June…

Source: Bloomberg

And just when we thought some sens of reality was kicking in, bank deposits and money-market fund assets diverge once again…

Source: Bloomberg

Adjusting for foreign bank deposit flows, The Fed’s magical ‘adjustment stick’ managed to turn $$33BN of outflows (NSA) into $51BN (SA) inflows…

Source: Bloomberg

So, after the prior week’s massive outflows, The Fed finds a way to stem the flow with some ‘fuckery’, leaving the delta between SA and NSA deposit losses sicne SVB now at $168BN

Source: Bloomberg

For context – there has been $146BN in NSA outflows over the last two weeks vs $17BN in SA outflows.

On the other side of the ledger, it was a lending-gasm as Large banks saw loan volumes surge $24.6BN and Small banks loan volumes rose $5.4BN. That is the biggesat jump in lending volumes since mid-March…

Source: Bloomberg

The key warning sign continues to trend ominously lower (Small Banks’ reserve constraint), supported above the critical level by The Fed’s emergency funds (for now)…

As the green line shows, without The Fed’s help, the crisis is back (and large bank cash needs a home – like picking up a small bank from the FDIC).

end

III) USA ECONOMIC STORIES

This is what wokeism does to a company. They destroyed billions of dollars in value.

(Phillips/EpochTimes)

Anheuser-Busch Studio Head Exits Company Amid ‘Bud Light Situation’

MONDAY, NOV 06, 2023 – 05:00 AM

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

Anheuser-Busch InBev’s studio chief departed the company and cited the Bud Light backlash as one reason why, she confirmed this week.Bud Light, made by Anheuser-Busch, sits on a store shelf in Miami, Florida, on July 27, 2023. (Photo by Joe Raedle/Getty Images)

In April, Bud Light faced significant backlash and a boycott when it released personalized beer cans that feature a transgender social media influencer and activist. In the meantime, sales of the beer have dropped for consecutive weeks and appear to show no signs of abating.

Lauren Denowitz, the now-former studio head, wrote on social media that she has left the firm’s division and made note of the company’s branding “crisis.”

“With the Bud Light situation earlier this year, the company experienced its largest brand crisis in its several-hundred-year history. The impacts are being felt far and wide,” she wrote on LinkedIn, adding that the firm is “prioritizing resourcing shorter-term impact initiatives versus longer-lead-time strategic bets like brand entertainment.”

“While I am disappointed that a promising initiative with such momentum was cut short, I am incredibly grateful for the opportunity I was given,” Ms. Denowitz said.

The Epoch Times has contacted Anheuser-Busch for comment Friday. A company spokesperson told Business Insider that the firm would continue to work in the entertainment field but provided no further details about why she departed.

Sales Down

In a conference call with investors earlier this week, CEO Michel Doukeris appeared to address the controversy by saying that “consumers continue to want the Bud Light brand to concentrate on the platforms that all consumers love, and we are doing just that through investing in partnerships with the NFL, Fields of Honor, news platforms, college football, and our recently announced return to partnering with the UFC. Two, they want Bud Light to focus on beer,” according to a transcript.

“They want that beer without a debate. We are taking the feedback and working hard toward our consumers’ business every day across the world,” Mr. Doukeris added, echoing comments he made weeks after the controversy erupted earlier this year.

Recent Bud Light advertising campaigns, he added, “are all about bringing people together over a beer for the moments that matter” and claimed that a “recent survey found that over 40 percent of lapsed Bud Light drinkers said that they are now more open to come back to drinking Bud Light.”

Anheuser-Busch said that its U.S. revenues declined by 13.5 percent for the earnings quarter, while volumes dropped by 16.6 percent. That drop was driven “primarily due to volume decline of Bud Light.”

“Approximately two-thirds of this decrease attributable to market share performance and the remainder from productivity loss, increased sales and marketing investments, and support measures for our wholesaler partners,” the company said in a release this week.

The decline marks the second quarter in which the Bud Light backlash has affected its U.S. sales. In August, Anheuser-Busch said its American division had recorded a drop in profit amid the backlash, which caused the dethroning of Bud Light from its position as the top-selling beer in the United States for more than 20 years.

U.S. dollar sales of Bud Light were down 29 percent in the four weeks that ended on Oct. 21 compared to sales a year before that, according to Nielsen data compiled by Bump Williams Consulting, as reported by The Associated Press. Year-to-date sales are down about 19 percent.

It all started when Bud Light sent a commemorative can to transgender influencer Dylan Mulvaney in early April. Conservative celebrities and commentators reacted swiftly, with some calling for a consumer boycott of the brand as images of the Mulvaney can were displayed across social media.

Before the Mulvaney controversy, Bud Light and Budweiser were long associated with the NFL, American flags, and Clydesdale horses. Recent post-Mulvaney Bud Light advertisements appear to touch on those familiar themes, while the company has since partnered with Kansas City Chiefs tight end Travis Kelce and, now, the UFC.

Other Changes

Late last month, the UFC and Anheuser-Busch confirmed that the two entities would again be partners, with Bud Light becoming the official beer sponsor of the mixed martial arts promotion. The two companies were partnered more than a decade ago.

“I’m proud to announce we are back in business together,” UFC chief executive Dana White said in a statement. “There are many reasons why I chose to go with Anheuser-Busch and Bud Light, most importantly because I feel we are very aligned when it comes to our core values and what the UFC brand stands for.”

The financial terms haven’t been disclosed, but a person familiar with the partnership told CNBC in October that the deal is above $100 million.

Mr. White, meanwhile, recently told Fox News host Sean Hannity last week that the deal isn’t about revenue. “There are many other things that are important to me other than just the money,” he said. “And the people that were all involved in this negotiation, on every side, absolutely, positively know that my choice was not determined by money.”

END

CALIFORNIA/MINIMUM WAGE FOR HOSPITAL WORKERS $25.00

Newsom Signs $25 Minimum Wage Law For ALL Hospital Workers, Finds Out Afterwards It Will Cost California $4 Billion

MONDAY, NOV 06, 2023 – 01:10 PM

Authored by Monica Showalter via American Thinker,

Governor Hairspray doesn’t pay attention much to California’s budget numbers when he signs off on a bill. It’s as if putting on a green visor would mess up his costly coif.

So, in no surprise to the rest of us, Gavin Newsom was in for a surprise.

According to the Los Angeles Times:

SACRAMENTO — When Gov. Gavin Newsom signed a law that set a first-in-the-nation minimum wage for healthcare workers, three words in a bill analysis foretold potential concerns about its cost: “Fiscal impact unknown.”

Now, three weeks after Newsom signed SB 525 into law — giving medical employees at least $25 an hour, including support staff such as cleaners and security guards — his administration has an estimated price tag: $4 billion in the 2024-25 fiscal year alone.

Half of that will come directly from the state’s general fund, while the other half will be paid for by federal funds designated for providers of Medi-Cal, California’s Medicaid program, according to Newsom’s Department of Finance.

SB 525 is one of the most expensive laws California has seen in years and comes as the state faces a $14-billion budget deficit that could grow larger if revenue projections continue to fall short. It was one of several labor-backed measures the Democrat-controlled Legislature passed this year in what amounted to an unusually successful run for organized labor. What lawmakers didn’t fully account for, as they scrambled in the final days of the session to broker a deal between unions and hospitals to support the bill, was how much it would cost the state — or what might have to be cut to pay for it.

So now the state gets to pay the janitors, gardeners, Mexican cleaning ladies (yes, real ones, and they live in Mexico and commute), gift shop clerks, and anyone else in the employ of a hospital, $25 an hour, no exceptions, and no matter what the value of their jobs are in the free market.

What a great way to spend the state’s revenue at a time of a $14 billion deficit. Now Newsom gets an $18 billion deficit, but when you have a billion here, a billion there, who’s counting?

Except that the Times notes that services in other areas are going to have to be cut to “pay for” these inflated wages.

Meanwhile, as far as those $25 an hour hospital cleaning jobs go, get ready for it — those menial jobs will suddenly become very politicized as to who gets one. You can bet that anyone who has such a job will be or become a very dedicated Democrat union operative and willing to do anything for them. Get ready for the beefed-up ballot-harvesting brigades, muscling unwilling voters in their homes to play ball for the Democrats.

It’s simply outrageous, and it was a completely preventable problem.

Had Newsom examined the cost and benefit of raising gardeners’ wages to $25 an hour, like any normal governor would do, he would have probably modified the bill to reasonable standards, or better still, just said ‘no.’

But this was unions we are talking about, and this one the same SEIU union Newsom succored a few weeks ago when he appointed Laphonza Butler to the Senate seat vacated by the death of Dianne Feinstein, even though she was a resident of Maryland. Newsom couldn’t find any black female Californians to take the job? Of course not.

Butler had spent most of her working career as an SEIU organizer and operative, so we can see the outlines of the pattern here, given that unions have tremendous power in the state of California.

Now they’ve left him with a $4 billion bill, which he will blithely sweep under the rug as he cuts vital services elsewhere in the state. CalFire, the mighty wildfire fighting state agency, get ready for your haircut. California Highway Patrol, get ready for budget cuts.

We all know who’s going to get the short end of the stick in this one as gardeners now make white-collar salaries.

We can also look forward to higher health insurance bills as those higher costs make their way down to the insurance agencies. Somebody’s going to be paying for it.

No wonder Californians are bailing out. California has lost 800,000 residents during these Newsom years from 2020-2023, according to CapRadio. Another chart, from the Public Policy Institute of California shows tremendous losses — noting at the end that there’s no end in sight.

Don’t we pay these politicians to consider costs and benefits of various spending measures before signing on? Normal governors look at costs before they sign the bills, not the other way? Not to Newsom. He just goes along with what unions want … and now expects that his next stop is the seat behind the desk in the Oval Office.

END

“Control Your Client!” Fireworks Erupt As Trump, Judge And Lawyer Have Courtroom Spat During Civil Fraud Trial

MONDAY, NOV 06, 2023 – 02:04 PM

Update (1400ET): The virulent anti-Trump judge overseeing the former President’s New York real estate case popped a gasket during Monday testimony – for which no cameras were allowed.

The trial concerns claims that Trump inappropriately inflated the value of his real-estate holdings in order to obtain commercial loans and insurance policies.

The prosecution began with Attorney General Kevin Wallace asking Trump to confirm that he was head of the Trump organization between May 1, 1981 and Jan. 19, 2017, to which Trump replied that Wallace was among “every Democratic district attorney, attorney general and US Attorney who were coming after me from fifteen sides, all different cases, all Trump haters, all cases that are not good. Weaponization.”

Trump then testified that banks didn’t actually care about his statements of financial condition.

“They just weren’t a very important element in banks’ decision-making process. and we’ll explain that as this trial goes along, as this crazy trial goes along,” he said, drawing a rebuke from Judge Arthur Engoron – who told the former president to “just answer the questions, no speeches.”

Trump’s lawyer spoke up, saying that Wallace is asking “questions that call for narratives.”

“Can you control your client?“

Trump then claimed that he added millions in value due to his brand.

“I became president because of my brand,” he said, to which Engoron asked defense lawyer Christopher Kise, “Can you control your client?”

“The former and soon-to-be chief executive of the United States understands the rules,” replied Kise. “But he doesn’t abide by them,” the judge shot back.

Engoron then threatened to boot Trump off the stand twice, saying “We are not here to hear what he has to say … We are here to hear him answer the questions. And most of the time he’s not.”

Trump lawyer Alina Habba responded that the court was indeed here to hear what Trump had to say.

“Sit down already!” Engoron ejaculated, to which Trump said “This is a very very unfair trial.”

After a 15-minute recess, Trump said that he wasn’t involved in preparing his organization’s 2021 statement of financial condition because he was too busy “keeping our country safe” at the time.

“My threshold was China, Russia,” he said. “But, just for the record, you weren’t president in 2021?” asked the deputy AG. “No, I wasn’t,” Trump replied.

Trump also mocked Engoron’s Sept. 26 pre-trial ruling that he committed fraud in valuing his properties – calling the Judge’s decision itself “fraudulent,” and saying of AG Letitia James “the fraud is her!”

“I think it’s fraudulent, the decision, the fraud is on the court, not me,” Trump said angrily. “He called me a fraud and didn’t even know anything about me!”

So, things are going about as expected.

* * *

Authored by Michael Washburn via The Epoch Times,

After weeks of tumultuous and bitter testimony and cross-examination in New York Attorney General Letitia James’s civil lawsuit against members of the Trump family, the star witness is expected to take the stand when the trial resumes at 10 a.m. on Nov. 6.

Assistant Attorney General Andrew Amer’s highly aggressive questioning of Donald Trump Jr. and Eric Trump on the witness stand last week was a prelude to what looks sure to be the most intensive, closely watched phase of the trial. Former President Donald Trump will appear in the civil court building at 111 Centre Street in Manhattan to testify about the truthfulness of valuations of Trump family assets in financial statements provided to Deutsche Bank and other lenders.

The former president’s sons gave lengthy testimony on the mornings of Nov. 1, Nov. 2, and Nov. 3 on often overlapping subjects. The prosecutor went over financial documents and records in painstaking detail, seeking answers from the brothers as to whether they recognized certain letters, emails, and financial statements and whether they had knowingly approved the presentation of such items to the banks for the purpose of obtaining loans on terms highly favorable to the Trump family and The Trump Organization.

Mr. Amer repeatedly grew frustrated with the brothers’ tendency to qualify their answers and demanded that they reply to his questions with a “yes” or “no.” Justice Arthur Engoron largely supported Mr. Amer in his efforts to obtain simple answers, and the judge’s perceived favoritism toward the prosecution led to a prolonged argument with Trump lawyer Christopher Kise on the afternoon of Nov. 2 and the morning of Nov. 3.

Former President Donald Trump (R) appears in the courtroom with attorney Christopher M. Kise for the third day of his civil fraud trial at the New York State Supreme Court in New York City on Oct. 4, 2023. (Mary Altafeer/Pool/Getty Images)

At many points throughout the proceedings, the brothers minimized their role in the preparation of the statements of financial condition and other documents and records and said they trusted the professional accountants and financial experts who prepared such items. Although the documents bear their signatures, they were merely acting in accordance with legal advice from people inside and outside the Trump business empire whose job was to run numbers and come up with valuations.

In essence, the brothers acknowledged their authority within The Trump Organization while portraying their role as the rubber-stamping of documents containing figures and valuations that others had compiled.

Typical of the cross-examination was a moment on Nov. 2, when Eric Trump told Mr. Amer that “people ask me questions all the time, but I never had anything to do with a statement of financial condition.”

Then, a bit later in his testimony, he said: “We had an accounting department that would sometimes work with outside entities. I did not work on a statement of financial condition; I’ve been very clear about that.”

Questions for the Former President

Mr. Amer often pursued an indirect route to getting the information he wanted, asking one of the Trump brothers a question that a third-party financial professional assigned to a given project or the former president himself might be in a better position to answer.

At one point, he asked Eric Trump whether the witness had seen one of his father’s financial statements from August 2013. At such times, Eric Trump often alluded to the sheer amount of time that had passed and said he didn’t recall the details of the document or figures he was pressed about.

He denied his involvement in appraisal work on properties and said repeatedly that Sheri Dillon, who’s now an attorney with the law firm Morgan Lewis & Bockius, handled the minutiae of such matters.

The brothers didn’t dispute their agency as executives of The Trump Organization with a significant amount of latitude when it came to signing documents whose preparation they had entrusted to others. But they fell short of claiming oversight of properties and assets that fall under their father’s ownership.

Hence, the questioning of Donald Trump Jr. and Eric Trump may have been a long warm-up for the most critical phase of the trial, when questions about who was ultimately answerable for representations made to powerful financial institutions, and for any real or alleged inflations of the value of Trump family assets, will be front and center throughout the testimony.

President Trump is expected to take the stand as soon as the new phase of the trial begins on Nov. 6.

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

Hunter Biden Accuses GOP Of ‘Weaponizing’ His Addiction To Hurt His Father

FRIDAY, NOV 03, 2023 – 05:00 PM

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

Hunter Biden claimed that by ‘weaponizing’ his addiction, Republicans were making it harder for Americans struggling with addiction to get help.Hunter Biden walks to a waiting SUV after arriving with President Joe Biden on Marine One at Fort McNair in Washington on July 4, 2023. (Saul Loeb/AFP/Getty Images)

Hunter Biden, son of President Joe Biden, has accused Republicans of “weaponizing” his “mistakes” and struggles with drug and alcohol addiction by engaging in a supposed “vile and sustained disinformation” campaign against his father.

The GOP-led House Oversight Committee has been investigating President Biden for allegedly profiting off his family’s business dealings, something the president has repeatedly denied.

But Republicans aren’t buying President Biden’s denials, with the committee continuing to release on a regular basis evidence—including questionable payments to the president from members of his family—suggesting President Biden was lying.

The steady trickle of evidence, which includes bank records, has been weighing on public opinion, with a recent poll showing that a majority of Americans believe that President Biden acted either illegally or unethically in how he handled the international business dealings of his son, Hunter Biden.

Not only that, but House Republicans have launched an impeachment inquiry into President Biden over his alleged ties to his son’s business affairs.

In light of all the investigative—and reputational—pressure facing the president, Mr. Hunter Biden penned an op-ed published in USA Today on Nov. 2, accusing Republicans of going after his father via “political weaponization” of “my mistakes” and struggles with addiction.

“My struggles and my mistakes have been fodder for a vile and sustained disinformation campaign against him, and an all-out annihilation of my reputation through high-pitched but fruitless congressional investigations,” he wrote.

While “high-pitched” may be on point—after all the House Oversight Committee has been vocal about the findings of its corruption investigation into the president—but Mr. Hunter Biden’s charge that the probe has been “fruitless” is harder to defend.

The House Oversight Committee has released over 20 examples of evidence tying the president to his son’s business dealings.President Joe Biden and his son Hunter Biden attend the annual Easter Egg Roll on the South Lawn of the White House in Washington on April 10, 2023. (Drew Angerer/Getty Images)

It’s About ‘More Than Me’

Further, Mr. Hunter Biden claimed in the op-ed that, by “weaponizing” his addiction, Republicans were making it harder for Americans struggling with addiction to get help.

“What troubles me is the demonization of addiction, of human frailty, using me as its avatar and the devastating consequences it has for the millions struggling with addiction, desperate for a way out and being bombarded by the denigrating and near-constant coverage of me and my addiction” by media outlets like Fox News and The New York Post.

The Post was the outlet that published a bombshell story about the now-infamous Hunter Biden laptop, whose contents hinted that the president was involved in his son’s business dealings as the “Big Guy” referred to in emails that were reportedly found on the device’s hard drive.

“Political weaponization of my addiction hurts more than me,” Mr. Hunter Biden wrote. “My struggles and my mistakes have been fodder for a vile and sustained disinformation campaign against my father, President Joe Biden, and an all-out annihilation of my reputation.“

While Mr. Hunter Biden’s reputation has most likely suffered from the extensive media coverage of the embarrassing contents of the laptop—and the criminal gun and tax charges that he faces—it’s less what “disinformation” he may be referring to in regards to his father.

While the evidence produced by the House Oversight Committee in regards to President Biden hasn’t, by most accounts, produced smoking gun proof that the president was involved in his family’s business dealings, what has been produced thus far suggests President Biden was—contrary to his denials—involved.

‘Direct Payment’

Rep. James Comer (R-Ky.), chair of the House Oversight Committee, recently released evidence of a questionable direct payment to President Biden as part of his committee’s long-running corruption investigation of the president.

The evidence Mr. Comer revealed is a bank record of a $200,000 personal check to President Biden for “loan repayment,” issued by his brother and sister-in-law, James and Sara Biden, dated March 1, 2018.

According to Mr. Comer, this direct payment could be the strongest evidence yet that President Biden may have been directly involved in his family’s business dealings, a thesis that underpins the committee’s investigation.

“This summer, Joe Biden said: ‘Where’s the money?'” Mr. Comer said in an Oct. 20 statement. “Well, we found some.”

On the same date that is featured on the check to President Biden, a company called Americore wired a $200,000 loan to James and Sara Biden’s personal bank account.

Meanwhile, court documents show that James Biden received $600,000 in loans from Americore “based upon representations that his last name, ‘Biden’, could ‘open doors’ and that he could obtain a large investment from the Middle East based on his political connections.”

Implying that the check was for something other than a loan repayment, Mr. Comer has called on President Biden to prove that he lent such a large sum of money to his brother and to disclose the terms of their financial arrangement.

“Did he have similar financial arrangements with other family members that led them to make similar large payments to him?” Mr. Comer asked, adding that there are more bank records that the committee will disclose in due time as it continues to “follow the money.”

“Even if this was a personal loan repayment, it’s still troubling that Joe Biden’s ability to be paid back by his brother depended on the success of his family’s shady financial dealings,” Mr. Comer said.

While the White House did not respond to a request for comment, White House spokesperson Iam Sams told some media outlets that this revelation by Republicans investigating the president was nothing more than an immaterial “shiny object” meant to “distract” Americans from the fact that “they are incapable of doing the basics of governing.”

President Biden’s Alleged Involvement in Focus

While President Biden has denied any involvement in his son’s business affairs, the GOP-led House Oversight Committee has released numerous pieces of evidence tying the president to Hunter Biden’s business dealings.

“There is mounting evidence that Joe Biden was involved in his family’s influence peddling schemes, including while he served as Vice President,” the committee said in a statement.

“Democrats and their corporate media allies continue to ignore this overwhelming evidence as they seek to distract the American people from the Biden family’s corruption,” the panel added.

While on the campaign trail, then-presidential candidate Mr. Joe Biden insisted that he had no role whatsoever in his son’s business dealings.

But that claim has been challenged on a number of occasions. First, there were the revelations of the contents of the Hunter Biden laptop, then statements made by Mr. Hunter Biden’s former business associate Tony Bobulinski, and more recently by the explosive 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 the House Oversight Committee include that Mr. 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.”

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.

‘Categorically False’

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 is “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.”

Mr. Archer did provide the following caveat, however.

“In the same breath, there’s no … I don’t think Joe Biden has looked at a balance sheet or a cap table or what have you or any financial document probably ever,” Mr. Archer said, suggesting that the president’s involvement in Hunter Biden’s business affairs wasn’t about handling money but helping his son peddle influence.

Further, in a memorandum to Republicans released ahead of the first impeachment hearing into President Biden, 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.

And more recently, bank records and other documents suggest that a $40,000 payment President Biden received from his brother in 2017 may have originated from a Chinese firm and moved through a series of entities controlled by members of the Biden family.President Joe Biden, with son Hunter Biden, arrives at Hancock Field Air National Guard Base in Syracuse, N.Y., on Feb. 4, 2023. (Andrew Caballero-Reynolds/AFP via Getty Images)

end

A true nutcase!!

(zerohedge)

Kamala Harris’ Stepdaughter Helps Raise $8M For Gaza While Mom’s Admin Pushing Billions For Israel

MONDAY, NOV 06, 2023 – 03:05 AM

Vice President Kamala Harris’ stepdaughter, Ella Emhoff, has begun publicly raising money for Gaza – promoting a fundraiser on her personal Instagram account “supporting urgent relief for Gaza’s children” which is now absent from her profile.

The promotion asks her 315,000 Instagram followers to support the Palestinian cause, without mentioning that her stepmother’s administration wants to send billions to Israel as part of a $100 billion package.Ella Emhoff’s Instagram page (screenshot)

The fundraiser, which has netted more than $7.8 million so far, is being operated by the Palestinian Children’s Relief Fund, a nonprofit based in Kent, Ohio, which raked in more than $21 million in 2021, according to ProPublica.

It’s unclear how much, if anything, Ella Emhoff has personally donated to the cause. –NY Post

“It’s of tremendous concern and I find it abhorrent,” Rep. Jeff VanDrew (R-NJ), a member of the House Homeland Security Committee told the outlet. “To be honest with you, I am kind of stunned by it. It’s disturbing to the maximum degree.”

VanDrew said it was almost certain that Hamas would be able to siphon any humanitarian cash that went to Gaza.

Despite her father being Jewish, Ella’s rep told The Forward in 2021 that “Ella is not Jewish.”

“It’s not something she grew up with. Ella truly has no qualms with the faith, but she does not want to speak on behalf of Judaism, as she does not celebrate herself.”

Emhoff — whose biological mom is film producer Kerstin Emhoff — has styled herself as a model and making boobs-out appearances at New York Fashion Week.

She is close with her stepmother, who congratulated her in an X posting after Emhoff’s graduation from Parsons in 2021.

“Keep dreaming with ambition and there is nothing you cannot achieve,” Harris wrote. -NY Post

We wonder if Ella was perhaps protesting outside the White House on Saturday? Maybe she wore this:

THE KING REPORT

The King Report November 6, 2023 Issue 7112

Independent View of the News

October NFP is +150k. 180k was consensus; the whisper number was 223k. September NFP was revised to 297k from 336k; August NFP was revised to 165k from 227k, a two-month revision is -101k.   Team Obama-Biden has indeed been cooking the books; but they must normalize the data for the end of 2023. Manufacturing lost 35k; -10k was expected; Motor vehicle & Parts -33.2k due to UAW strike. https://www.bls.gov/news.release/empsit.nr0.htm

Hourly earnings fell to 0.2% from the expected & prior 0.3%; the Workweek fell to 34.3 from the expected & prior 34.3.

Household Survey: The Unemployment Rate increased to 3.9% from 3.7%.  ‘Employed’ lost 348k jobs! (Biggest drop since Covid) ‘Unemployed’ increased 146k. Civilian labor force fell 201k. The Labor Force Participation Rate fell to 62.7% from the expected and prior 62.8%. The Employment-population ratio fell 0.2 to 0.2%. Not in labor force increased 416k.  https://www.bls.gov/news.release/empsit.a.htm

Establishment Survey Highlights
Private education and health services +89k with Health care +58.4k; Leisure and hospitality +19k with Arts, entertainment, and recreation+20k (end of writers’ strike?) and Food services and drinking places -7.5k; Government +51k with Local government education +26.4k
https://www.bls.gov/news.release/empsit.t17.htm
Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail
[In thousands]IndustryNot seasonally adjustedSeasonally adjustedOct.
2022Aug.
2023Sept.
2023(P)Oct.
2023(P)Oct.
2022Aug.
2023Sept.
2023(P)Oct.
2023(P)Change from:
Sept.2023 – Oct.2023(P)Total nonfarm155,041156,392156,918157,984154,006156,476156,773156,923150
The seasonal adjustment for Oct 2023 is -1.061m; -1.035m for Oct. 2022

The BLS’s hokey Birth/Death Model added 412k jobs (511k in October 2022)
https://twitter.com/RNCResearch/status/1720248244511342778

@zerohedge: Celebrate the miracle of Bidenomics by working 2, 3 or more jobs. The number of multiple jobholders just hit a record high. https://twitter.com/zerohedge/status/1720436514348318997

ESZs and USZs surged on the weak October Employment Report.

S&P Global US Services PMI for October: 50.6, expected and prior 50.9Stronger expansion in output, but demand remains fragile.Inflationary pressures at three-year lowhttps://www.pmi.spglobal.com/Public/Home/PressRelease/6dd6c885880f4221a1e7437652e8fcd0

Most pundits and experts are ignoring the increasing inflationary pressures from wages, services, and food commodities. We regularly highlight St. Louis Fed research that shows food inflation is a top predictor of future general inflation. If Team Obama-Biden juices the economy for the 2024 Election, inflation is likely to increase significantly. This will make Mr. Bond very unhappy.

Predicting Inflation: Food For Thought January 01, 2002
We have identified inflation in food prices as a relatively good indicator for future inflation… we find that the food component still ranks the best among them all. Food has the smallest RMSE (0.99), while energy has the largest RMSE (10.52). This implies that past inflation in food has been a good predictor of overall inflation… https://www.stlouisfed.org/publications/regional-economist/january-2002/predicting-inflation-food-for-thought

Inflation could still derail stock-market rally built on Fed-is-done trade
Federal Reserve Bank of Richmond President Thomas Barkin, said on Friday that his view on whether to hike rates again will depend more on the inflation data than on a softer labor market…
     One is an expected jump in health insurance costs starting in October based on bonus payments to insurers from the federal government, which is set to boost companies’ profits and the way the Bureau of Labor Statistics measures health-insurance inflation. In addition, these traders are worried that recent strikes against automakers reflect “labor’s upper hand over capital,” according to Hu. They haven’t yet taken a view on the likely impact of the Israel-Hamas war…
   The Fed “runs the risk of being behind again if inflation starts rising from 3%,” Tang said. “It’s one thing to be fooled once, but to be fooled twice is not a good look.”
https://www.marketwatch.com/story/inflation-could-still-derail-stock-market-rally-built-on-fed-is-done-trade-c9b46b48

USZs hit a daily low of 112 12/32 at 3:48 ET. They rallied from 112 25/32 at 8:28 ET (Employment Report leaked again at this time; official release 8:30 ET) to 114 27/32 at 9:45 ET. USZs then commenced a 1 16/32 decline that eventually ended at 15:52 ET (113 11/32). USZs then went flat.

ESZs hit a daily low of 4325.50 when they opened at 18:00 ET on Thursday night. They traded sideways, in a tight range, until they soared from 4331.25 at 8:28 ET to 4383.25 at 10:00 ET. After a retreat to 4360.25 at 10:51 ET, ESZs soared to a daily high of 4391.75 at 15:06 ET. At the close, ESZs hit 4374.50.

Atlanta Fed Pres & Uber-dove Bostic introduced a modicum of reality into the market late in Friday’s NYSE session when he stated: If Inflation Expectations Creep Up, We’ve Got to Act – BBG 15:40 ET

Uptick in Unemployment Rate Triggered a Recession Indicator
Federal Policymakers Monitor “Sahm Rule” to Indicate Beginning of Recessions…
    The Sahm Rule indicator signals the start of a recession when the three-month moving average of the unemployment rate rises by half a percent above the 12-month low of the unemployment rate. Historically, each time the unemployment rate has climbed quickly enough to trigger the Sahm rule, an economic downturn had either already begun or followed shortly thereafter…
https://lao.ca.gov/LAOEconTax/article/Detail/786

The 3-month moving average of the US Unemployment Report is 3.8%. The 12-month Unemployment Rate low is 3.4% (January 2023).  The Sahm Rule is just 0.1 from triggering a recession alert.

The last three Unemployment Rates: 3.9%, 3.8% (Sept), and 3.8% (Aug). A 4% Unemployment Rate in November would create a 3-month moving average of 3.9%, which is 0.5 above the 12-month low.

BTW, if the US enters a recession, the US budget deficit could increase 50% to 100%. Mr. Bond would not be pleased with this predicament.  Bonds traders will have to weigh recession vs. a $4T+ deficit.

Maersk cutting at least 10,000 jobs as shipping boom unravels
Maersk, which controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies such as Walmart and Nike, flagged a steeper downturn in demand than analysts and investors had expected…
https://www.reuters.com/business/shipping-giant-maersk-q3-above-expectation-sees-fy-lower-end-range-2023-11-03/

There are 245 drugs in short supply right now (This is inflationary, BTW)
Manufacturing quality issues are the major reason for drug shortages, according to the U.S. Food and Drug Administration. Other factors contributing to shortages include production delays at the manufacturer, delays receiving raw materials and components from suppliers, and discontinuations…
https://www.msn.com/en-us/health/medical/there-are-245-drugs-in-short-supply-right-now/ar-AA1jlqdD

Milk carton shortage hits school lunchrooms in New York, California and other states, USDA says
https://www.msn.com/en-us/health/health-news/milk-carton-shortage-hits-school-lunchrooms-in-new-york-california-and-other-states-usda-says/ar-AA1jm5Z2

@AdamMancini4: SPX Seasonality Update. After months of precisely tracking its seasonal average, October diverged, putting in a rare Red October. November, however, returned to form in a big way. If seasonals keep up, November is 2nd most bullish month of the year, green 16 of last 20. (Chart at link)
https://twitter.com/AdamMancini4/status/1705285080971669950/photo/1

Positive aspects of previous session
Stocks and bonds soared on the soft October jobs report

Negative aspects of previous session
Bonds rescinded 1.5 points of their rally.
The dollar got hammered again; further depreciation would be inflationary
Financial conditions have eased significantly over the past three sessions.
A 4% Unemployment Rate for November would trigger a Sahm Rule recession indication
The odds of an inflationary recession in the US during an election year are increasing

Ambiguous aspects of previous session
How much more short covering will there be in bonds?

First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4301.92
Previous session S&P 500 Index High/Low: 4373.62; 4334.23

Netanyahu after meeting with US Sec. of State Blinken on Friday: “I made it clear that we will continue with all the force. We will refuse any ceasefire that does not include the liberation of our hostages.”

Blinken in Tel Aviv after meeting with Bibi: “We are absolutely focused on getting hostages back and getting them back to their families in safety. And we believe that, among other things, a humanitarian pause could help that effort, could facilitate it. It’s one of the reasons why we’re focused on it…(more has to be done to) protect Palestinian civilians…”

Hezbollah leader’s chilling ‘divine fight’ threat to Israel as he stops short of declaring war
Nasrallah, 63, branded the Hamas incursion into Israel …on October 7 as an act of “heroism” and something “we must salute.” He said: “There was no negative side of this operation, and they couldn’t do it any other way.”… Israeli Prime Minister Benjamin Netanyahu responded to the speech, warning Hezbollah it would “pay dearly” if it waged a major offensive against Israel. “I tell our enemies to the north don’t test us, you will pay dearly,” he said…
    Focusing a portion of his speech on the US, Nasrallah said Hezbollah “have weapons to deal” with US warships in the region… https://www.themirror.com/news/us-news/breaking-hezbollah-leaders-chilling-divine-174180

Nasrallah: “America is entirely responsible for the ongoing war on Gaza and its people, and Israel is simply a tool of execution… All possibilities on our Lebanese front are open and all options are on the table and we can go to them at any time… You Americans, know very well, that if a war breaks out in the region, then your fleets will be useless, and your fighting from the air will be useless, and the first victims will be your interests, your soldiers and your fleets, they will be the pay the biggest price.”

Nasrallah also claimed that what is happening in Gaza is not like precious wars; now it’s a decisive battle.

@bonchieredstate: Today, Hezbollah and Iran both abandoned Hamas.  Those who claimed that a lack of a ceasefire would lead to a broader regional conflict were wrong (again).

@SamRamani2: Israel has stopped giving Russia advance warnings of strikes on Syria.

US asks Israel for ‘explanation’ of strike on Gaza refugee camp (Team Obama pandering to Iran?)
A House Democrat familiar with U.S.-Israeli conversations said the administration “has been pushing very hard in private on the Israelis to ease back”… (Pandering to US Muslims for 2024?)
    The House member added Democrats are preliminarily discussing measures to penalize Israel should it not change course, such as “actual enforcement of existing human rights vetting.”… (No Hamas penalty!) https://www.politico.com/news/2023/11/03/us-asks-israel-for-explanation-of-some-airstrikes-in-gaza-00125294

@DrEliDavid: Congratulations to Hamas leader Khaled Mashal for reaching a net worth of $5 billion. He and his family are lavishly hosted in Qatar. Dying in Gaza is only for peasants. https://t.co/YQcLH8qkjZ

Hamas trying to smuggle wounded terrorists out of Gaza delaying exit of foreign nationals, Biden admin says https://t.co/5FqMmR3Zal

@sentdefender: Senior U.S. Officials have stated that Hamas attempted to use Ambulances provided by the Red Cross and Red Crescent to Escape from Gaza to Egypt earlier this week…

Hamas trying to sneak injured fighters out among civilian evacuees: US official – Fox News
A senior U.S. official confirmed to Fox News’ Jennifer Griffin that wounded Hamas combatants were quietly placed on evacuation lists alongside injured Palestinian civilians…

Horrific video purportedly shows Gaza street strewn with at least a dozen bodies gunned down by Hamas – as they were attempting to flee from the north to the south of the Hamas-controlled region… author and journalist Amjad Taha said the victims were among “dozens” killed by Hamas snipers, including women and children, because “they do not want citizens to leave.”…
https://t.co/cdRBzfW9kc

@IsraelRadar_com: Israeli forces say Gaza terrorists attack IDF & then run into hospitals, clinics, UN facilities to provoke Israeli fire at sensitive civilian sites (via @WallaNews). Reminder: Entire Hamas strategy is based on war crime

@BabakTaghvaee1: The 28 tons of humanitarian aid sent for people of Gaza by Russia is full of expired food!… https://twitter.com/BabakTaghvaee1/status/1720588714382881125

Iran Warns US Will Be ‘Hit Hard’ If It Doesn’t Secure Cease-Fire in Gaza: WSJ

@Jerusalem_Post: US announced that an Ohio-type nuclear submarine had arrived in the operational area of the US Central Command, and the command published a photo of it passing through the Suez Canal.  (Nations strenuously hide the location of nuke subs.  The US is sending a warning to Iran.)

Barack REFUSES to pick a side: Obama condemns ‘horrific’ actions of Hamas but says ‘what’s happening to Palestinians is unbearable’ https://t.co/6t0EFSXZRG
    “What Hamas did was horrific, and there is no justification for it. And what is also true is that the occupation, and what’s happening to Palestinians, is unbearable… “You have to admit that all of us are complicit to some degree.”  (Obama always tries to blame America.)

@themarketswork: No one person is more complicit than Obama. From his resuscitation of Iran’s economy, the massive infusions of cash, the preservation of Iran’s missile program to his use of Sunset clauses that allowed Iran to distribute arms. Obama empowered Iran.

We’re old enough to remember that when Ann Coulter kept iterating ‘Barack Hussein Obama’, the MSM and Dems excoriated her. She repeatedly retorted, ‘What’s wrong; that is his name.’

There were massive pro Palestine rallies in Berlin, London, LA, and DC.

Pro-Palestinian marchers flood DC, say ‘racist state’ Israel ‘does not have the right to exist’: ‘Long live the Intifada’ https://trib.al/2zgB6Vk

Pro-Palestinian protesters seen shaking White House gate vandalized with red paint: ‘F–k Joe Biden’ (How many of the insurrectionists were arrested?) https://t.co/J3UF6VquIr

@DSchwammenthal: London police tell British veterans they can waive the British flag only behind barricades… Protester: “When they march down with hundreds of Palestinian flags you won’t say a word.” Officer: “There’s way more of them than there are of us.” https://t.co/y6g0cQ9hx7

@NileGardiner: There needs to be an urgent official inquiry into Islamist infiltration of advisory roles within the Metropolitan Police as well as British Govt departments, including the Home Office. Met Police adviser Attiq Malik led ‘from the river to the sea’ chant. (London, Berlin, & Paris are gone!)

Ukraine’s Top Commander Says War Has Hit a ‘Stalemate’ (US hype about Ukraine offensive a lie?)
Gen. Valery Zaluzhny said no “beautiful breakthrough” was imminent and that breaking the deadlock could require advances in technological warfare. The general also said he underestimated Russia’s willingness to sacrifice troops in order to prevent a breakthrough and prolong the war. “That was my mistake,” he said. “Russia has lost at least 150,000 dead. In any other country such casualties would have stopped the war.” His accounting of Russia’s casualties could not be independently verified…
   General Zaluzhny’s comments came amid a wider effort by Ukrainian officials to temper allies’ expectations of rapid battlefield success, while urging them to maintain military support to allow Ukraine to gain the advantage on the battlefield… (Electronic jamming is impairing both countries.)
   “The simple fact is that we see everything the enemy is doing and they see everything we are doing,” he wrote… https://www.nytimes.com/2023/11/02/world/europe/ukraine-zaluzhny-war.html

NBC News: U.S., European officials broach topic of peace negotiations with Ukraine, sources say
They began amid concerns among U.S. and European officials that the war has reached a stalemate and about the ability to continue providing aid to Ukraine, officials said. Biden administration officials also are worried that Ukraine is running out of forces, while Russia has a seemingly endless supply, officials said… (Americans’ support for Ukraine funding is collapsing – and it’s an election year!)
https://www.nbcnews.com/news/world/us-european-officials-broach-topic-peace-negotiations-ukraine-sources-rcna123628

Reportedly, Ukraine and Russia created a deal in April 2022 but the USA and UK nixed it. Thus, the USA and UK are responsible for much of the ensuing carnage and damage – but US defense companies got their bucks and the ‘skim’ had to be fabulous.

Did the news about US & European support for a truce in the Ukraine-Russia war leak to key individuals?  Was this a factor in the rabid buying of US stocks and bonds last week?
Zelenskyy on Saturday: “It’s not a stalemate situation. We have been in a more complicated situation.
https://twitter.com/Gerashchenko_en/status/1720872711713395047

Zelensky Rebuke of Top General Signals Rift in Ukrainian Leadership – NYT
The presidential office said Gen. Valery Zaluzhny’s declaration that the war is at a stalemate was helpful to the Russians… signaled an emerging rift between the military and civilian leadership… https://www.nytimes.com/2023/11/04/world/europe/zelensky-rebuke-general-zaluzhny.html

Zelenskiy pushes US for more aid, invites Trump to Ukraine – Reuters

How Does the World’s Largest Hedge Fund Really Make Its Money? – NYT
Ray Dalio’s investing tactics have always been a closely kept secret… According to employees involved with the effort, Mr. Dalio heavily courted well-connected government officials…
    Back in America, Mr. Dalio’s influence slowly petered out. During and after his financial-crisis era fame, he’d had little trouble reaching the Federal Reserve chair, Ben Bernanke. Mr. Bernanke’s successor, Janet Yellen, however, apparently wasn’t as interested in the Bridgewater founder. Mr. Dalio would regularly rail to others at the company that Ms. Yellen wouldn’t return his calls or meet.
    Mario Draghi, the Italian-born head of the European Central Bank from 2011 to 2019, frequently chatted with the Bridgewater founder and sought his advice…
    Mr. Dalio hired China Investment Corporation’s former chairman to a cushy job as head of a Dalio charity in China, and he became close with Wang Qishan, who would later become China’s vice premier… Mr. Dalio would occasionally tell Chinese government representatives… “Whatever fees you pay, I will donate back to China personally,” he said in one meeting, according to a person…
   One young employee, hands shaking, handed over the results: The study showed that Mr. Dalio had been wrong as much as he had been right. Trading on his ideas lately was often akin to a coin flip.
https://www.nytimes.com/2023/11/01/business/how-does-the-worlds-largest-hedge-fund-really-make-its-money.html

@nytimesbusiness: Berkshire Hathaway posted its first overall quarterly loss in a year on Saturday on the falling prices of Apple and other stocks it owns, though it said improvement in its insurance operations boosted operating profit to a record. (How much interest income on $167B of cash?)

McDonald’s closes after 30 years in downtown San Francisco amid ‘doom loop’ fears
https://www.foxbusiness.com/fox-news-food-drink/downtown-san-francisco-mcdonalds-location-closes-30-years-not-recovered-pandemic

Jeff Bezos Is Leaving Seattle for Miami https://oann.com/newsroom/jeff-bezos-is-leaving-seattle-for-miami/
(Is the State of Washington wealth tax the driving force?)

Today – Is the manic short covering in bonds, and to a lesser degree in stocks, over? There is a big Treasury Auction on Wednesday. Bonds have soared over 6 points in the past three sessions. Dealers will be reluctant to buy the auction with bonds grossly over-extended on a short-term basis.

The 1.5 point USZ decline suggests that manic short covering is over. ESZs lost 17 handles during the final 55 minutes of trading, which suggests there were far more longs than shorts that need covering.

@TrendSpider: The S&P 500 has closed over +5% on the week just 18 other times in the last 20 years.    The following week was red 56% of the time, with an average return of -0.80%.

ESZs are -0.25 and USZs are -12/32 at 20:40 ET. No Sunday night buying for the Monday Rally yet!

S&P 500 Index 50-day MA: 4348; 100-day MA: 4403; 150-day MA: 4323; 200-day MA: 4248
DJIA 50-day MA: 33,879; 100-day MA: 34,268; 150-day MA: 34,028; 200-day MA: 33,805
(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 positive – a close below 4221.01 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 4310.91 triggers a sell signal

Hunter Biden seeks DOJ probe into former business associate Tony Bobulinski
Attorneys for Hunter Biden wrote last month to Matthew Graves, the U.S. Attorney in Washington, D.C., accusing Bobulinski of deliberately mischaracterizing his relationship with the Biden family “for the sake of maligning the character and reputation of [Hunter] Biden and his family, and to boost his own sense of self-worth.”… https://abc7.com/hunter-biden-seeks-doj-probe-into-former-business-associate-tony-bo/14008802/

Imagine being under federal and congressional investigations for a variety of crimes and favorable FBI/DoJ treatment – and then asking the DoJ to probe an accuser/whistleblower! Is Hunter’s legal team implicitly warning the DoJ and Team Obama-Biden that if investigations into Hunter proceed further, there will be unsavory ramifications for others?

@GOPoversight: Hunter Biden and his legal team are once again attacking anyone who speaks out against the Bidens. This time, their target is Tony Bobulinski, a potential witness in our investigation. We will not tolerate witness intimidation. The truth will come out soon enough despite the Biden team’s threatening tactics. We will give Hunter the opportunity to clear the air and speak with us soon.

@GOPoversight: The White House today made clear to us that President Biden is refusing to hand over loan documents for any “loans” he provided to his brother, James Biden….We’ll continue to follow the money, expose President Biden’s corruption, and deliver accountability.

@RNCResearch: Biden, mumbling (While reading from note cards!), tells the president of Chile he’s “working to address historic levels of migration in the hemisphere — lot of people movin’ around!”
https://twitter.com/RNCResearch/status/1720248244511342778

President Joe Biden refers to Canadian Prime Minister Justin Trudeau as “Prime Minister Joe” during an event at the White House.  https://twitter.com/NEWSMAX/status/1720546440379068733

Politico: Biden weighs border deal — altering asylum law for Ukraine aid
If a migrant is subject to expedited removal and put through the credible fear process, that person is required to show a “significant possibility” of credible fear of persecution, torture or fear returning to their country. A tweak to the law’s language could in theory mean fewer migrants hitting the credible fear threshold… https://www.politico.com/news/2023/11/02/biden-ukraine-aid-deal-00125125

White House: Ukraine-for-asylum trade was never on the table – “This report is not accurate…” https://www.msn.com/en-us/news/politics/white-house-ukraine-for-asylum-trade-was-never-on-the-table/ar-AA1jlo9E

@RNCResearch: Biden takes no questions as he heads to Delaware for the third weekend in a row…

Heading into 2024, most Americans (76%) believe country headed in the wrong direction: ABC Poll
https://www.msn.com/en-us/news/politics/heading-into-2024-most-americans-believe-country-headed-in-the-wrong-direction-poll/ar-AA1jpW4T

Trump leading Biden in five swing states: Poll (NYT & Siena College)
If the election were held today, former President Donald Trump would easily beat President Joe Biden with over 300 electoral votes, according to a new swing state poll from The New York Times and Siena College…  https://www.msn.com/en-us/news/politics/trump-leading-biden-in-five-swing-states-poll/ar-AA1jpSb3

@NBCNews: ‘Jumbled mess’: The Bidenomics brand leaves nearly everyone — including Biden — baffled – No one seems to like “Bidenomics,” the eponymous shorthand for Joe Biden’s economic policies — not voters, not Democratic officials, not even the president.  https://t.co/zElqz0YXqm

Democrats quietly move to succeed Biden – Axios
Democratic governors and senators are quietly moving to boost their national profiles and position…
https://www.axios.com/2023/11/02/democrats-quiet-campaign-succeed-biden-2024-president-election?s=02

Gavin Newsom Is Ready for His Closeup – Politico
On his recent trip to China, the California governor met with President Xi Jinping… but he couldn’t resist a glamorous photo op…  Newsom brought along a former photojournalist with extensive experience covering the White House for the trip: Charles Ommanney, a British-born, San Francisco-based photographer… https://www.politico.com/news/magazine/2023/11/01/mr-newsom-goes-to-beijing-00124484

‘Only He Can Make This Decision’: David Axelrod Floats Biden Dropping Out of 2024 Race after Brutal Pol  https://www.msn.com/en-us/news/politics/only-he-can-make-this-decision-david-axelrod-floats-biden-dropping-out-of-2024-race-after-brutal-poll/ar-AA1jqMTw

@NBCNews: Former President Obama quietly advised the White House over the past 5 months on its strategy to address AI... (What AI expertise does Obama possess?)  https://t.co/QxNfwVqBGO

So, the cover story for Obama operating Biden and Joe’s Middle East policy is AI. Yes, Virginia, this is more absurd gaslighting and it really is Obama’s third term – just like BHO stated that he wanted! PS – Why is BHO suddenly pontificating publicly of various issues? Does BHO fear his 4^th term is at risk?

@ChadPergram: Rep. Greg Landsman (D-OH), who is Jewish, has cancelled a town hall meeting scheduled for tomorrow in the Cincinnati suburb of Lebanon, OH due to security concerns.
‘We don’t feel safe.’ As antisemitism threat rises, South Florida’s Jews arm themselves
https://www.sun-sentinel.com/2023/11/05/we-dont-feel-safe-as-antisemitism-threat-rises-south-floridas-jews-arm-themselves/?s=02

Jordanian National Residing In Houston Accused of Planning Attack on Jewish People
https://www.oann.com/newsroom/jordanian-national-residing-in-houston-accused-of-planning-attack-on-jewish-people/

@DeSantisWarRoom: Why was he not deported in 2019? Was it because Donald Trump didn’t pursue mass deportations “at the request of Democrats”?
https://twitter.com/DeSantisWarRoom/status/1720593379791097901

@JoshPower80: Ken Cuccinelli the ‘Immigration Czar’ from the Trump administration on Trump’s total con job on immigration: Trump admin deported fewer people and at a slower rate than the Obama admin
– Trump routinely called off large ICE raids and deportation operations
– Trump did not have the will to deport because it might hurt his image
“Donald Trump was not enthusiastic or aggressive about deporting people and the numbers speak for themselves…. deportations went at a faster pace in the Obama administration than they did in the Trump administration, PERIOD.” https://twitter.com/JoshPower80/status/1720457592583950830

@EndWokeness: Mayoral candidate Justin Hurst (D) was caught rigging the upcoming election in Springfield, MA. People were allegedly paid $10 per vote. City officials say that many were taken from a homeless shelter, didn’t speak English, and never voted before.
https://twitter.com/EndWokeness/status/1720514096099889255

@EndWokeness: CNN accidentally caught a lady stuffing a ballot box on live TV in 2020. They went on to call it the most safe and secure election in history. And if you have any questions, you are a dangerous threat to democracy. https://t.co/erYE4Fdm15

Election fraud cases break out in 3 Democrat states, new voting ordered in one
Bridgeport Superior Court Judge William Clark overturned the results of a Democratic mayoral primary and ordered a new election in connection to allegations of absentee ballot abuse. There are at least three election-related criminal cases nationwide.
https://justthenews.com/politics-policy/elections/new-primary-election-ordered-election-fraud-alleged-connecticut

School children say they are being forced to walk past ‘Venezuelan prostitutes’ in broad daylight at NYC’s ‘Sweetheart Market’ – as nearby shops complain they are losing business https://t.co/Y35FMEHNB4

The leftists that run Chicago are determined to drive off as many businesses as possible.

Chicago Workers to Get 10 Days of Paid Time off Under Revised Measure Set for Final Vote
Chicago workers can take more sick leave than workers in New York City and Los Angeles and permit them to take time off for any reason, not just if they or a family member falls ill… “Businesses cannot withstand the ever-growing financial burden forced upon them with punitive policies including restrictive scheduling, the elimination of tip credits and efforts to quadruple the real estate transfer tax,” the coalition led by the Chicagoland Chamber of Commerce said in a statement. “With Chicago on the verge of adopting the most complicated and expensive form of paid leave in the country, businesses of every size and sector will be left with no choice but to take their operations – and jobs – elsewhere.”…  https://news.wttw.com/2023/11/02/chicago-workers-get-10-days-paid-time-under-revised-measure-set-final-vote

Massachusetts superintendent calls for change after male sends female to hospital in field hockey game (Got some teeth knocked out from a shot) https://t.co/2AJPjd2xDH

Associations of Religious Upbringing with Subsequent Health and Well-Being from Adolescence to Young Adulthood: An Outcome-Wide Analysis – Johns Hopkins Bloomberg School of Public Health.
    Empirical research suggests that religion is associated with better health and well-being in adults (8). For instance, there is a gradient relationship between frequent religious service attendance and lower mortality risk, even in the most rigorous studies (9–14). In other studies, religious involvement has also been linked to… greater psychological well-being, character strengths, reduced mental illness, and healthier behaviors (8, 15, 16)… https://academic.oup.com/aje/article/187/11/2355/5094534?login=false

@DeSantisWarRoom: Trump in 2016: I will eliminate the national debt. *adds $7.8 trillion in debt as president* Trump in 2023: I will eliminate the national debt.  https://t.co/lDxRcyuOeg

@RobertKennedyJr: We (Trump & RFK Jr.) both loved Hillary Clinton. The only difference is I’m not pretending I never did.  https://twitter.com/RobertKennedyJr/status/1720580033981349898

Here’s why Home Depot’s 94-year-old co-founder Bernie Marcus says he’s ‘particularly p–ssed off’
He blames much of America’s woes on President Biden… He calls Biden a “dunce” and says he’s the “most divisive president we’ve ever seen.”… Marcus says he also has misgivings about Trump. “Wages were up. Minorities were working. Inflation was down” during the Trump presidency, Marcus said. “But he can’t keep his mouth shut.”…
https://nypost.com/2023/11/04/business/why-home-depots-bernie-marcus-says-hes-particularly-p-ssed-off/

Bill Ackman says he’s ‘lost confidence’ in Harvard president Claudine Gay over college’s antisemitism and says she’d never have parroted ‘free speech’ line if students mocked George Floyd https://t.co/jCrFWIdccu

Queers for Palestine: Identity Politics at Its Most Absurd
Western support for Hamas, under the guise of support for Palestinian liberation, betrays an ignorance of the deep-seated radical Islamist ethos driving that organization, which, if left unchecked, would jeopardize the very freedoms cherished by LGBT people across the developed world. Anyone who doubts this should try being gay, bi, or trans in most of the Middle East and North Africa’s (MENA) Muslim-majority countries. Almost all these nations have laws that criminalize both homosexuality and transsexuality, some of which carry the death penalty… https://quillette.com/2023/11/02/queers-for-palestine/

@RadioGenoa: Muslims in Germany: “When Muslims are in the majority, we will take control of Germany by force. Sharia law will replace German laws. When Germans oppose our Sharia, they will be attacked. According to Sharia, homosexuals will be thrown down from the mountains!”
https://twitter.com/RadioGenoa/status/1721194294709485711

@TheChiefNerd: @BillAckman: “What I think needs to be done is a very detailed deep dive into all of the research on vaccine safety…among the things that we have not done a lot of work on is the cumulative impact on a child…[receiving] 73 shots”
https://twitter.com/TheChiefNerd/status/1721161648822505921

GOP Presidential Candidate @VivekGRamaswamy: Just over 6 months ago, the Pentagon announced its largest budget in American history: $842 billion, *half* of which will go to for-profit defense contractors. The military-industrial complex’s recent roots trace to a 1993 secret Pentagon dinner hosted by Bill Clinton’s Secretary of Defense Les Aspin who summoned CEOs of America’s largest defense contractors to the so-called “Last Supper” to lobby the nation’s top defense contractors into consolidations by merging with one another. It worked: the number of prime contractors in the United States has dropped by 90%, from 50+ in the 90s to just 5 today, creating a concentrated cartel of defense contractors who profit handsomely from war.
    Take a shoulder-fired Stinger missile that is used today in the Ukraine war: In 1991, it cost $25,000. Today, it costs more than $400,000 to replace each missile sent to Ukraine. Even adjusting for inflation & product improvements, that’s a >7x cost increase.
    In 2015, a Pentagon review found Lockheed Martin and its subcontractor, Boeing, were grossly overcharging the Pentagon & US allies by hundreds of millions of dollars for the Patriot’s PAC-3 missiles: total profits approached 40%.
    Is it a coincidence the Department of Defense is the only US federal agency to *never* have completed or passed an audit? This isn’t a conspiracy theory, it’s just mundane reality.

GREG HUNTER INTEREVIEWING MARTIN ARMSTRONG

Terrorists Blowing Up Stuff gives Excuse for Martial Law – Martin Armstrong

Terrorists Blowing Up Stuff gives Excuse for Martial Law – Martin Armstrong

By Greg Hunter On November 4, 2023 In Weekly News Wrap-Ups9 Comments

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

Legendary financial and geopolitical cycle analyst Martin Armstrong began 2023 predicting “chaos” would be coming around the world. We have a bloody war in Ukraine, a new conflict with Gaza and Israel, and a wide open U.S. border with the FBI predicting huge terror attacks coming to America. Is this kind of destabilization a coincidence or is it a Deep State globalist plan? Why are the demonic dark powers taking peace from the earth and forecasting big terror events coming to America? Armstrong contends, “It is very simple. Basically, we are looking at a sovereign default. Governments are pushed to the limit at this stage. You even had Fed Head Jay Powell come out last week and say ‘the spending is unsustainable.’ The Biden Administration is a complete corrupt absolute disaster. It’s not really Biden . . . he’s just there to sign whatever they stick in front of him.”

So, a debt default will tank the economy and make millions of Americans poor and broke overnight. Poor and broke is how revolutions and civil unrest start, especially against the government that caused all the problems. Armstrong contends this is why the Southern U.S. border has been wide open for the past three years. The Deep State corrupt Biden Administration (RINO Republicans included) want terrorists to come to America and commit awful acts of violence and murder. Why? Armstrong explains, “You have Neocons pushing for war on all possible fronts. . . . Terrorism leads to lockdowns. As soon as you start getting this, they will have to know what everybody is doing and where they are moving. You are looking at ‘Papers, Please.’ . . . . Lockdowns are coming to America again, absolutely. This is to prevent civil unrest. So, they want the terrorists to blow up some stuff. This gives them the excuse to effectively enforce martial law. . . . This helps the government to hold onto power.”

Armstrong thinks interest rates and inflation are going to go up for a while. He thinks the U.S. dollar will get stronger because capital will flow to the U.S. in times of crisis and war. Armstrong thinks Hamas has won the public relations war and is trying to isolate Israel on the world stage. This attack is much deeper than anyone imagines. Armstrong says get tangible assets, and that includes gold and silver as core assets. He also thinks the global economy will implode, but the USA goes down last. Armstrong says the economy will tank in America, but it will be much worse in Blue states like New York, California and Illinois.

There is much more in the 58-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Martin Armstrong, financial and geopolitical cycle expert for 11.4.23.

(To Donate to USAWatchdog.com, Click Here)se-for-martial-law-martin-armstrong/

There is some free information, analysis and articles on ArmstrongEconomics.com.

https://usawatchdog.com/terrorists-blowing-up-stuff-gives-excuse-for-martial-law-martin-armstrong/

SEE YOU ON TUESDAY