USD AM2006.49

PM2008.04

Historical SGE Fix

SHANGHAI GOLD PREMIUM OVER NY: 75 DOLLARS

Bitcoin morning price:, 36,698 DOWN 467 DOLLARS

Bitcoin: afternoon price: $36,794 DOWN 563. dollars

Platinum price closing $866.95 UP $20.65

Palladium price; $983.00 UP $12.70

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: $2,686.29 UP 16.32 CDN dollars per oz( * NEW ALL TIME HIGH 2,782.61//OCT 272023)

*BRITISH GOLD: 1585.15 UP .70 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17) OCT 2/2023

*EURO GOLD: 1819.12 UP 7.10 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: 1,932.600000000 USD
INTENT DATE: 11/10/2023 DELIVERY DATE: 11/14/2023
FIRM ORG FIRM NAME ISSUED STOPPED

190 H BMO CAPITAL 303
363 H WELLS FARGO SEC 153
435 H SCOTIA CAPITAL 219
624 H BOFA SECURITIES 47
657 C MORGAN STANLEY 9
661 C JP MORGAN 5
690 C ABN AMRO 1
737 C ADVANTAGE 7

TOTAL: 372 372
MONTH TO DATE: 1,959

JPMorgan stopped 5/372 contracts.

FOR NOV.:

GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 372 NOTICES FOR 37,200 OZ or 1.1572 TONNES

total notices so far: 1959 contracts for 195,900 oz (6.0933 tonnes)

FOR NOV:

SILVER NOTICES 110 NOTICE(S) FILED FOR 550,000 OZ/

total number of notices filed so far this month : 545 for 2,725,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD UP $12.00//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF .87 TONNES OF GOLD INTO THE GLD//

INVENTORY RESTS AT 868.15 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 5 CENTS AT THE SLV// NO CHANGES IN SILVER INVENTORY AT THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 441.364 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A MEGA- HUGE SIZED 2,768 CONTRACTS TO 131,505 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR $0.59 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD CONSIDERABLE SPEC SHORT COVERING EPISODE IN FRIDAY’S COMEX TRADING.. TAS ISSUANCE WAS AN UNBELIEVABLE HUMONGOUS SIZED 8330 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.THIS IS THE THRID DAY IN A ROW FOR MEGA HUGE ISSUANCES OF T.A.S.

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: 8320 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.59). BIT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUGE SIZED GAIN OF 3026 OI CONTRACTS ON OUR TWO EXCHANGES AS THE SPEC SHORTS TRIED AGAIN DESPERATELY TO COVER THEIR SHORTFALLS WITH SOME SUCCESS.

WE MUST HAVE HAD:

A SMALL SIZED 258 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.430 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 110,000 OZ QUEUE JUMP +0 EXCHANGE FOR RISK ISSUANCE FOR 0 OZ//NEW EXCHANGE FOR RISK .245 MILLION:

//NEW STANDING FOR SILVER IS THUS 2.785 MILLION OZ + .245 (EX. FOR RISK) = 3.03 MILLION OZ.

//HUGE SIZED COMEX OI GAIN/ SMALL SIZED EFP ISSUANCE/VI) MEGA MEGA HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 8320 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 348 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 9 days, total 3047 contracts: OR 15.235 MILLION OZ (348 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 15.235 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. 15.235 MILLION OZ (GOING TO BE QUITE SMALL THIS MONTH)

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2768 CONTRACTS DESPITE OUR LOSS IN PRICE OF $0.59 IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL 258 EFP ISSUANCE CONTRACTS: 258 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 NOV. OF 1.432 MILLION OZ FOLLOWED BY TODAY’S 110,000 OZ QUEUE JUMP

NEW STANDING 2,785,000 OZ + .245 MILLION OZ EXCHANGE FOR RISK: NEW TOTAL 3.03 MILLION OZ/// /// WE HAVE A HUGE SIZED GAIN OF 3026 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A MEGA HUMONGOUS SIZED 8320 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION. THE NEW TAS ISSUANCE FRIDAY NIGHT A HUGE (8320) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 110 NOTICE(S) FILED TODAY FOR 550,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 7336 CONTRACTS TO 473,141 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – REMOVED 483 CONTRACTS

WE HAD A STRONG SIZED DECREASE IN COMEX OI ( 7336 CONTRACTS) WITH OUR $30.70 LOSS 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 37,100 OZ QUEUE JUMP + TODAY’S 0 CONTRACT ISSUANCE OF EXCHANGE FOR RISK FOR 0 TONNES//TOTAL EXCHANGE FOR RISK PRIOR ISSUED: 3.1905 TONNES // TOTAL GOLD STANDING FOR NOV: 6.1617 TONNES + 3.191 TONNES (EX. FOR RISK) = 8.3522 TONNES // ALL OF..THIS HAPPENED WITH OUR $30.70 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING.WE HAD A STRONG SIZED LOSS OF 5823 OI CONTRACTS (18.111 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1513 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 473,141

IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5823 CONTRACTS WITH 7336 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 1513 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 5340 CONTRACTS OR 16/609 TONNES. WE HAD 0 EXCHANGE FOR RISK 0 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): AN UNBELIEVABLE AND CRIMINAL 31,347 CONTRACTS. THIS IS THE 3RD CONSECUTIVE DAY FOR THIS MEGA HUMONGOUS T.A.S. ISSUANCES!!

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1513 CONTRACTS) ACCOMPANYING THE STRONG SIZED LOSS IN COMEX OI (7336) //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 5823 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 37100 OZ QUEUE JUMP: NEW STANDING 6.1617 TONNES + 3.1905 TONNES EXCHANGE FOR RISK PRIOR /THUS NEW TOTAL FOR GOLD STANDING: 9.3572 TONNES // /// 3) CONSIDERABLE LONG LIQUIDATION AND MEGA HUGE TAS LIQUIDATION AND WE HAD SOME SPEC SHORT COVERINGS DURING THE COMEX SESSION //4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: MEGA MEGA HUGE T.A.S. ISSUANCE: 31,347 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: 30,445 CONTRACTS OR 3,044,500 OZ OR 94.67 TONNES IN 9 TRADING DAY(S) AND THUS AVERAGING: 3382 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 9 TRADING DAY(S) IN TONNES 94.67 TONNES

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

THUS EFP TRANSFERS REPRESENTS 94.67/3550 x 100% TONNES 2.67% 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. 94.67 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 HUGE SIZED 2768 CONTRACTS OI TO 131,505 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 258 CONTRACTS

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

DEC 258 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 258 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 2768 CONTRACTS AND ADD TO THE 258 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3026 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 15.130MILLION OZ

OCCURRED DESPITE OUR $0.59 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING//SUNDAY NIGHT

SHANGHAI CLOSED UP 7.56 PTS OR 0.23% //Hang Seng CLOSED UP 222.95 PTS OR 1.30% /The Nikkei CLOSED UP 17.00 PTS OR 0.05% //Australia’s all ordinaries CLOSED DOWN 0.44 % /Chinese yuan (ONSHORE) closed DOWN AT 7.2909 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.2982 /Oil UP TO 77.24 dollars per barrel for WTI and BRENT UP AT 81.60/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA
outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED 7336 CONTRACTS TO 473,141 WITH OUR LOSS IN PRICE OF $30.70 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS 1513 EFP CONTRACTS WERE ISSUED: : DEC 1513 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1513 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 5823 CONTRACTS IN THAT 1513 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 7336 COMEX CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $30.70//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 ANOTHER TOTALLY UNBELIEVABLE 31,347 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)//. THIS IS THE THIRD DAY IN A ROW FOR THESE MEGA T.A.S. ISSUANCES!!

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: NOV (9.3522 TONNES ( NON ACTIVE MONTH)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:

DEC 2021: 112.217 TONNES

NOV. 8.074 TONNES

OCT. 57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE: 72.289 TONNES

MAY 5.77 TONNES

APRIL 95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022 17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT. 38.1158 TONNES

OCT: 77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL YEAR 656.076 TONNES)

2023:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 75.676 tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 6.1617 TONNES + 3.1905 (EX. FOR RISK) = 9.3522 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $30.70) //// AND WERE SUCCESSFUL IN KNOCKING CONSIDERABLE SPECULATOR LONGS AS WE HAD A STRONG SIZED LOSS OF 5823 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A HUGE T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING. THE T.A.S. ISSUED ON FRIDAY NIGHT, AND IT WAS A DILLY, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED SOME SPECULATOR SHORT COVERING WITH THE MASSIVE PRICE DECREASE.

WE HAVE LOST A TOTAL OI OF 18.111 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR NOV. (4.3514 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 37,100 OZ QUEUE JUMP //NEW TOTALS STANDING:6.1617 TONNES +3.1905 EXCHANGE FOR RISK/PRIOR; NEW TOTAL STANDING: 9.3522 TONNES ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $30.70. 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 –438 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST

NET LOSS ON THE TWO EXCHANGES 5823 CONTRACTS OR 582,300 OZ OR 18.11 TONNES.

Estimated gold volume today:// 203,616 fair

final gold volumes/yesterday 307,024 good

//speculators have left the gold arena

NOV 13

/ /// THE NOV. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	NIL .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	372 notice(s) 37,200 OZ 1.157 TONNES
No of oz to be served (notices)	22 contracts 2200 oz 0.0684 TONNES
Total monthly oz gold served (contracts) so far this month	1959 notices 195,900 oz 6.0933 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 0 customer withdrawals

total withdrawals NIL oz

Adjustments; 0/

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.

For the front month of NOVEMBER we have an oi of 394 contracts having GAINED 369 contracts. We had 2 contracts filed on FRIDAY, so we gained 371 contracts or an additional 37,100 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 30,961 contracts DOWN to 250,832 contracts.

JAN. gained 435 contracts RISING TO 1431 contracts.

We had 372 contracts filed for today representing 37,200 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 372 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 5 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 (1587x 100 oz ), to which we add the difference between the open interest for the front month of NOV. (394 CONTRACTS) minus the number of notices served upon today 1 x 100 oz per contract equals 198,100 OZ OR 6.1617 TONNES + 0 TONNES EX FOR RISK TODAY/3,1905 TONNES EX. FOR RISK/PRIOR//THUS TOTAL STANDING: 9.3522 TONNES

thus the INITIAL standings for gold for the NOV. contract month: No of notices filed so far (1587) x 100 oz + (394) {OI for the front month} minus the number of notices served upon today (1) x 100 oz) which equals 198,100 oz standing OR 6.1617 TONNES + 3.1905 EX FOR RISK FOR MONTH = 9.3522 TONNES

TOTAL COMEX GOLD STANDING: 9.3522 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: 1,835,300.879 OZ 57.00 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 19,884,012,464 OZ

TOTAL REGISTERED GOLD 10,058,175.302 (312,85 tonnes)..cme corrected

TOTAL OF ALL ELIGIBLE GOLD: 9,825,837.162 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,222,875(REG GOLD- PLEDGED GOLD) 255.76 tonnes//dropping like a stone

END

SILVER/COMEX

NOV 13

//2023// THE NOV 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	59.915.883 oz CNT Delaware HSBC .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	110 CONTRACT(S) (550,000 OZ)
No of oz to be served (notices)	12 contracts (60,000 oz)
Total monthly oz silver served (contracts)	545 Contracts (2,725,000 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/265.926 million or 50.41%

Comex withdrawals 3

i) Out of CNT: 35,277.823 iz

ii) Out of Delaware: 8539.46 oz

iii) Out of HSBC: 16,098.600 oz

total: 59,915.883 oz

adjustments: 1

customer to dealer: manfra: 216,213.718 oz

TOTAL REGISTERED SILVER: 39.021 MILLION OZ//.TOTAL REG + ELIGIBLE. 265.926 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:

silver open interest data:

FRONT MONTH OF NOV /2023 OI: 122 CONTRACTS HAVING LOST 75 CONTRACT(S). WE HAD 97 NOTICES FILED ON FRIDAY, SO WE GAINED 22 CONTRACT OR AN ADDITIONAL 110,000 OZ WILL STAND FOR SILVER IN NOVEMBER AT THE COMEX

DEC. LOST 1229 CONTRACTS TO STAND AT 72,751

JANUARY GAINED 12 CONTRACTS TO STAND AT 681

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 97 for 485,000 oz

Comex volumes// est. volume today 77,470// good

Comex volume: confirmed yesterday 79,393 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 545 x 5,000 oz = 2,725,000 oz

to which we add the difference between the open interest for the front month of NOV. (122) and the number of notices served upon today 110 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the NOV/2023 contract month: 545 (notices served so far) x 5000 oz + OI for the front month of NOV (122) – number of notices served upon today (110 )x 500 oz of silver standing for the NOV contract month equates to 2.785 MILLION OZ + .245 MILLION OZ (EXCHANGE FOR RISK) =3.03 MILLION OZ

There are 39.021 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
END

GLD AND SLV INVENTORY LEVELS//

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

NOV 13/WITH GOLD UP 12.00 TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD:/ / // //A DEPOSIT OF .87 TONNES OF GOLD INTO THE GLD// INVENTORY RESTS AT 868.15 TONNES

NOV 10/WITH GOLD DOWN $30.70 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / // // INVENTORY RESTS AT 867.28 TONNES

NOV 9/WITH GOLD UP $12.50 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / // // INVENTORY RESTS AT 867.28 TONNES

NOV 8/WITH GOLD DOWN $14.95 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A MASSIVE DEPOSIT OF 4.04 TONNES OF GOLD INTO THE GLD/ / // // INVENTORY RESTS AT 867.28 TONNES

NOV 7/WITH GOLD DOWN $14.70 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT OF 4.33 TONNES OF GOLD INTO THE GLD/ / // // INVENTORY RESTS AT 863.24 TONNES

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

GLD INVENTORY: 868.15 TONNES

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

NOV 13/WITH SILVER UP 5 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: ////// //INVENTORY RESTS AT 441.364 MILLION OZ

NOV 10/WITH SILVER DOWN 59 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF .733 MILLION OZ INTO THE SLV////// //INVENTORY RESTS AT 441.364 MILLION OZ

NOV 9/WITH SILVER UP 17 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: //// //INVENTORY RESTS AT 440.631 MILLION OZ

NOV 8/WITH SILVER UP 13 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: //// //INVENTORY RESTS AT 440.631 MILLION OZ

NOV 7/WITH SILVER DOWN 59 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV: //// //INVENTORY RESTS AT 440.631 MILLION OZ

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

CLOSING INVENTORY 441.364 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

Peter Schiff: Things Are Even Doomier And Gloomier Than They Look

https://www.zerohedge.com/markets/peter-schiff-things-are-even-doomier-and-gloomier-they-look

MONDAY, NOV 13, 2023 – 10:00 AM

Via SchiffGold.com,

Peter Schiff recently appeared on Real America with Dan Ball to talk about the latest employment data and the state of the real estate market. We know there is a lot of doom and gloom in the headlines, but Peter said the situation is actually doomier and gloomier than the headlines suggest.

Dan opened the interview with a tweet from Peter.

Dan summed it up this way:

You just can’t keep spending more than we bring in, printing money and doing what they’re doing within the Biden administration.”

Then he asked a question: “How do I keep my head above water with all this doom and gloom, for God’s sake?”

Peter said it’s actually doomier and gloomier than the headlines suggest and pointed out the jobs data.

If you dig beneath the 999,000 private sector jobs that were created, those were almost exclusively part-time jobs. They’re low-paying jobs. They went to people who already have one or two jobs. The number of Americans working multiple jobs soared almost 400,000, I think, to another all-time record high.”

He pointed out that the economy is actually shedding manufacturing jobs, and the full-time jobs it has added are primarily in the government sector.

We lost 35,000 manufacturing jobs. All this talk about the revitalization of manufacturing is just a bunch of BS. We’re losing these jobs. These are productive jobs. They’re good-paying jobs. Instead, we replace them with more IRS agents. We hired 51,000 government employees added to the payroll. They don’t produce anything but red tape. They actually undermine economic growth. They lead to bigger deficits and more inflation.”

Dan asked about the current situation in the housing market, recalling the money he personally lost in the 2008 crash. He pointed out the insane price of homes in San Diego and wondered how anybody could afford to buy a house given the combination of high prices and rising mortgage rates. “Is there going to be another bubble pop when it comes to the housing market?” he asked.

Peter said, “Absolutely!”

The only way you can afford to buy something is that the price goes down. But the problem is when the price goes down, the banks are in a lot of trouble because that’s the collateral for these loans.”

Peter said we have a bigger problem now than we did in 2008 because banks are losing money on all of their mortgages — not just subprime.

Back in ’08, it was only the defaulted mortgages that were a problem. Now, all of them are a problem because the banks are only earning 3%, 4% on these mortgages. But the cost of money is now 5.2%. So, the banks lose money on every mortgage that is being paid. The entire banking system is completely insolvent.”

He also pointed out that commercial real estate is “an unmitigated disaster.”

We just had the bankruptcy of WeWork. It took a while, but that’s going to put a lot of office space on the market. It’s already depressed. It’s oversupplied. Commercial real estate prices are being cut in half and the banks have huge losses.”

Dan asked, “So, how do we keep our heads above water?”

Peter said people have to understand that the inflation tax is going to keep going up.

To avoid it or mitigate it, you’ve got to get out of US dollars. Don’t leave your money in the bank. Don’t leave it in Treasuries or any kind of dollar-denominated bond. You should be buying gold and silver as an alternative store of value, and you should be investing in real assets. … Invest abroad in income-producing foreign stocks — investments that will maintain their real value and deliver incomes that will preserve purchasing power so you can stay even or one step ahead of inflation.”

end

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

END

end

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

The Fed has reduces its gold swaps with the BIS down to 68 tonnes, a fall of 28 tonnes. They have two months to get this to zero

(Robert Lambourne/GATA)

Robert Lambourne: BIS gold swaps fell 28 tonnes in October as U.S. debt burden soared

Submitted by admin on Sat, 2023-11-11 09:22Section: Daily Dispatches

By Robert Lambourne
Saturday, November 11, 2023

Trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in October. From information in the BIS statement of account for the month, published this week —

https://www.bis.org/banking/balsheet/statofacc231031.pdf

— it is estimated that the volume of the bank’s gold swaps decreased by 28 tonnes, from 96 to 68 tonnes.

The BIS’ gold swaps had fallen to zero as of December 31, 2022, and reached a peak for 2023 so far of 188 tonnes as of May 31.

There seems no reason to alter the assumption that the BIS has entered these swaps on behalf of the U.S. Federal Reserve. There is no evidence to suggest that any other major central bank is actively trading this much gold, and many central banks have been openly accumulating physical gold.

The basic transaction that the BIS is believed to undertake is to swap dollars for gold from a bullion bank, then to deposit this gold in a gold sight account at a central bank, presumed to be the Fed but almost certainly being the central bank that is using the BIS to execute the gold swap on its behalf.

Given the recent volatility in the levels of BIS gold swaps, it seems likely that most are of a short duration. Why a central bank needs the BIS to undertake gold swaps isn’t clear, but the swaps are likely connected with short-term trading needs, which could include suppressing the gold price.

The gold price increased to $1,984 at August 31 from $1,849 at September 29 (per USAGold.com). The volatility in the volume of swaps is clear from a review of Table B below. Volumes of swaps in 2023 are well below the average seen in the preceding four years but remain significant.

Using the October 31 gold price of $1,984, the 68 tonnes of BIS gold swaps are valued at about $4.3 billion. (The corresponding value at September 29 was around $5.7 billion.) So the recent trading in BIS gold swaps is of high monetary value and shows that gold remains a significant monetary asset still actively traded by central banks.

As ever with the BIS, it remains unlikely that more information about why the bank undertakes these transactions will ever be provided. This secrecy implies that central bank gold policy involves much deception — that it could be currency or gold market intervention for one or more central banks for which the BIS provides camouflage.

For example, the most recent BIS Annual Report does not provide any information on the gold swaps other than confirming that swaps covering 77 tonnes of gold were in place as of March 31, 2023.

… GATA research on gold price suppression …

GATA’s research on gold price suppression indicates that an active policy of price suppression was implemented around 30 years ago and was primarily intended to suppress interest rates. Recent updates on this research is provided in the following links to presentations by Chris Powell and Bill Murphy at the New Orleans Investment Conference in early November:

https://www.gata.org/node/22886

https://www.gata.org/node/22889

This report from 2005 remains relevant and highlights work in this area by former U.S. Treasury Secretary and Harvard University President Lawrence Summers:

Gibson’s Paradox Revisited: Professor Summers Analyzes Gold Prices

It also remains relevant to highlight the following remarks made in a speech by Summers on September 8, 1999, as reported in the book “The Wealth of Progressive Nations: The Collected Lectures of Lawrence Summers.” The remarks below are an extract of a section of the speech titled “A New Economic Paradigm.”

“Most important of all, the Clinton-Gore administration has established a new paradigm for the management of our nation’s budget, with enormous cumulative benefits for our economy and our citizens. It has become a commonplace to remark on how exceptional today’s 4.2% unemployment rate is relative to any expectation at the beginning of the decade. It is no less remarkable that today, after 8.5 years of expansion, long-term interest rates are around 2 percentage points lower than they were at its start.”

From this it is reasonable to conclude that keeping interest rates “lower” was considered a priority and succeeding at it was “remarkable.”

While this is not proof that gold price suppression was undertaken specifically to reduce interest rates, it highlights that in any case reducing interest rates was a priority.

Further evidence of this priority is provided by the following link to an interview with Robert Rubin about his time working in the Clinton administration from January 1993. In answer to a question on the initial decision to prioritize deficit reduction, Rubin remarks: “On the other hand, if interest rates go down as a result, then that will stimulate growth, and we thought that the beneficial effect of lower interest rates would outweigh the contractionary impact of the deficit reduction”:

https://www.pbs.org/wgbh/pages/frontline/shows/clinton/interviews/rubin.html

Hence there is plenty of evidence that keeping interest rates down was a key priority during the period of the Clinton presidency. In the context of gold price suppression being used to assist efforts to reduce interest rates, the following report issued by GATA in 2007 with an analysis of the gold market by Frank Veneroso is a notable reference as it confirms that GATA’s primary assertions about gold price suppression were plausible:

https://www.gata.org/node/5275

… More recent trends in U.S. government deficits …

The remarks of Rubin and Summers on the priorities in the 1990s are reminders of how far the the fiscal positions of Western nations have worsened since then. This worsening trend for Western nations, especially the United States, probably reduces the appeal to the BIS of undertaking gold swaps on behalf of any central bank where the liability is to return gold. It possibly reduces the appeal of any such swaps to the central bank or banks for which the BIS has been acting.

So a report issued by GATA in 2012 is worth revisiting as it highlights the acknowledgment of gold price suppression by a former chairman of the BIS, Jelle Zijlstra, a Dutch politician, economist, and central banker. It seems likely, therefore, that BIS management understands what the swaps are being used for and why they require camouflage:

https://www.gata.org/node/11304

The continuing conundrum facing the Federal Reserve about raising dollar interest rates again should reduce the appeal to the Fed of having to return swapped gold, especially if the report by Veneroso cited above is correct about gold shortages.

Despite its rhetoric about pushing interest rates higher, the Fed needs to avoid more erosion of confidence in the U.S. Treasuries market when the U.S. government’s ever-increasing debt has become so controversial. The Treasury Department’s September report can be adjusted to reveal an underlying cumulative deficit of about $2.1 trillion in the year to September 30, 2023. See Appendix A in the following link for an explanation of the $2.1 trillion deficit:

https://www.gata.org/node/22883

The trends behind the deficit are not positive with lower revenue than during the previous year, higher expenditures, and much higher interest costs. The higher interest costs result from the higher interest rates set by the Fed gradually affecting existing debt levels as borrowings are refinanced and from the increase in debt caused by the deficits:

Click to access mts0923.pdf

In these circumstances the room for the Fed to raise interest rates further seems restricted and hence it seems likely that the BIS and some of its shareholders might be questioning the role of the bank in these swaps and the obligation to make future deliveries of gold, since the Fed may be unable to move interest rates high enough to contain inflation. One factor is the evidence of recently increased prices for oil and a possible future trend of even higher prices because of falling U.S. shale oil production combined with the impact of the fighting in Israel and Gaza.

The suspension of the federal government’s debt ceiling makes it easier to defend against a banking crisis by allowing the U.S. government to offer additional bank deposit guarantees. The debt ceiling suspension may even make a revaluation of gold easier for the United States to carry out.

Again, it seems appropriate to note that a report titled “Living with High Public Debt” authored by Serkan Arslanalp and Barry Eichengreen was published in August 2023 by the Federal Reserve Bank of Kansas City. This report reinforces how difficult it is to handle the present situation of high federal government debt and with spending far in excess of revenue. The report can be found at the Kansas City Fed’s internet site here —

https://www.kansascityfed.org/Jackson%20Hole/documents/9749/Living_With_High_Public_SA_Sep_2_2023.pdf

— and at GATA’s here:

https://www.gata.org/sites/default/files/Living_With_High_Public_Debt_Sep_2_2023.pdf

Here is an excerpt from the conclusions:

“Looking forward, the challenges are daunting. Given aging populations, governments will have to find additional finance for healthcare and pensions. They will have to finance spending on defense, climate change abatement, and adaptation, and the digital transition. A growing number of low-income countries are already in debt distress.

“Living with high public debt therefore means avoiding steps that make a bad situation worse. This means minimizing unproductive public spending. It means targeting social transfers as a way of limiting pressures on the expenditure side. It means limiting contingent liabilities by, inter alia, adequately regulating banks and avoiding recapitalization costs.

“It means contemplating tax increases where revenues are low by international standards. It means further developing financial markets where markets are underdeveloped and where a diverse population of local investors in debt securities is absent. It means embracing legal and procedural changes that streamline and speed restructuring for countries whose debts are unsustainable.

“This modest medicine does not make for a happy diagnosis. But it makes for a realistic one.”

In the circumstances vividly described in the report it seems ridiculous that the price of gold has been falling during 2023. The report offers yet more reason to question whether the use of gold swaps by the BIS, probably on behalf of the Fed, is being done as part of an effort to suppress the gold price in dollars.

Table A below highlights the level of gold swaps reported in the annual reports of the BIS back to 2010, when the bank’s use of gold swaps appears to have begun. At only one year-end since then, in March 2016, has the swap level been zero.

The BIS’ recently published annual report dated March 31, 2023, discloses that the BIS still holds 102 tonnes of its own gold and that few of its activities in derivatives involve central banks. An assumption that the gold held by the BIS remains at 102 tonnes has been used in this note to make the estimate of the bank’s gold swap level. The low level of derivatives reported by the BIS using central banks as counterparties at the year-end seems a sensible reason to assume that the swaps are almost certainly done with gold bullion banks rather than central banks. Historically, the first swaps described below were done with bullion banks.

* * *

... Historical context …

The BIS rarely comments publicly on its gold activities, but its first use of gold swaps was considered important enough to cause the bank to give some background information to the Financial Times for an article published July 29, 2010, coinciding with publication of the bank’s 2009-10 annual report.

The general manager of the BIS at the time, Jaime Caruana, said the gold swaps were “regular commercial activities” for the bank, and he confirmed that they were carried out with commercial banks and so did not involve central banks. It also seems highly likely that the BIS’ remaining swaps are still all made with commercial banks, because the BIS annual report has never disclosed a gold swap between the BIS and a major central bank.

The swap transactions potentially created a mismatch at the BIS, which may have ended up being long unallocated gold (the gold held in BIS sight accounts at major central banks) and short allocated gold (the gold required to be returned to swap counterparties). This possible mismatch has not been reported by the BIS.

The gold banking activities of the BIS have been a regular part of the services it offers to central banks since the bank’s establishment 90 years ago. The first annual report of the BIS explains these activities in some detail:

http://www.bis.org/publ/arpdf/archive/ar1931_en.pdf

A June 2008 presentation made by the BIS to potential central bank members at its headquarters in Basel, Switzerland, noted that the bank’s services to its members include secret interventions in the gold and foreign exchange markets:

https://www.gata.org/node/11012

The use of gold swaps to take gold held by commercial banks and then deposit it in gold sight accounts held in the name of the BIS at major central banks doesn’t appear ever to have been as large a part of the BIS’ gold banking business as it has been in recent years, although the recent declines suggest this is changing.

As of March 31, 2010, excluding gold owned by the BIS, there were 1,706 tonnes held in the name of the BIS in gold sight accounts at major central banks, of which 346 tonnes or 20% were sourced from gold swaps from commercial banks.

If the BIS was adopting the level of disclosure made by publicly held companies, such as commercial banks, some explanation of these changes probably would have been required by the accounting regulators. This irony may not be lost on those dealing with regulatory activities at the BIS. Presumably the shrinkage of the BIS’ gold banking business shows that even central banks now prefer to hold their own gold or hold it in earmarked form — that is, as allocated gold.

A review of Table B below highlights recent BIS activity with gold swaps, and despite the recent declines, the recent positions estimated from the BIS monthly statements have regularly been large, especially in early 2022, and the volume of trading has been significant.

No explanation for this continuing use of swaps has been published by the BIS. Indeed, no comment on the bank’s use of gold swaps has been offered since 2010.

This gold is supplied by bullion banks via the swaps to the BIS. The gold is then deposited in BIS gold sight accounts (unallocated gold accounts) at major central banks such as the Federal Reserve.

The reasons for this activity have never been fully explained by the BIS and various conjectures have been made as to why the BIS has facilitated it. One conjecture is that the swaps are a mechanism for the return of gold secretly supplied by central banks to cover shortfalls in the gold markets. The use of the BIS to facilitate this trade suggests of a desire to conceal the rationale for the transactions.

As can be seen in Table A below, the BIS has used gold swaps extensively since its financial year 2009-10. No use of swaps is reported in the bank’s annual reports for at least 10 years prior to the year ended March 2010.

The February 2021 estimate of the bank’s gold swaps (552 tonnes) was higher than any level of swaps reported by the BIS at its March year-end since March 2010. The swaps reported at March 2021 were at the highest year-end level reported, as is clear from Table A.

—–

Table A — Swaps reported in BIS annual reports

March 2010: 346 tonnes.
March 2011: 409 tonnes.
March 2012: 355 tonnes.
March 2013: 404 tonnes.
March 2014: 236 tonnes.
March 2015: 47 tonnes.
March 2016: 0 tonnes.
March 2017: 438 tonnes.
March 2018: 361 tonnes.
March 2019: 175 tonnes
March 2020: 326 tonnes
March 2021: 490 tonnes
March 2022: 358 tonnes
March 2023: 77 tonnes

—–

The table below reports the estimated swap levels since August 2018. It can be seen that the BIS is actively involved in trading gold swaps and other gold derivatives with changes from month to month reported in excess of 100 tonnes in this period.

—–

Table B – Swaps estimated by GATA from BIS monthly statements of account

Month ….. Swaps
& year … in tonnes

Oct-23 …. /68
Sep-23 …. /96
Aug-23 …. 129
Jul-23 …. /103
Jun-23 …. /87
May-23 …. /188
Apr-23 …. /135
Mar-23 …. /77*
Feb-23 … /136
Jan-23 …. /103
Dec-22 …. /0
Nov-22 …. /105
Oct-22 ….. /7
Sep-22 …../57
Aug -22 ….. /75
Jul-22 ….. /56
Jun-22 ….. /202
May-22 ….. /270
Apr-22 ….. /315
Mar-22 …. /358
Feb-22 …. /472
Jan-22 ….. /501
Dec-21…. /414
Nov-21…. /451
Oct-21…. /414
Sep-21 …. /438
Aug-21 …. /464
Jul-21 …. /502
Jun-21 …./471
May-21 …./517
Apr-21 …. /472
Mar-21…. /490±
Feb-21 …../552
Jan-21 …. /523
Dec-20 …. /545
Nov-20 …. /520
Oct-20 …. /519
Sep-20…../ 520
Aug-20…../ 484
Jul-20 ….. / 474
Jun-20 …. / 391
May-20 …. / 412
Apr-20 …. / 328
Mar-20 …. / 326**
Feb-20 …. / 326
Jan-20 …. / 320
Dec-19 …. / 313
Nov-19 …. / 250
Oct-19 …. / 186
Sep-19 …. / 128
Aug-19 …. / 162
Jul-19 ….. / 95
Jun-19 …. / 126
May-19 …. / 78
Apr-19 ….. / 88
Mar-19 …. / 175
Feb-19 …. / 303
Jan-19 …. / 247
Dec-18 …. / 275
Nov-18 …. / 308
Oct-18 …. / 372
Sep-18 …. / 238
Aug-18 …. / 370

* The estimate originally reported by GATA was 78 tonnes, but the BIS annual report states 77 tonnes. It is believed that slightly different gold prices account for the difference.

± The estimate originally reported by GATA was 487 tonnes, but the BIS annual report states 490 tonnes. It is believed that slightly different gold prices account for the difference.

** The estimate originally reported by GATA was 332 tonnes, but the BIS annual report states 326 tonnes. It is believed that slightly different gold prices account for the difference.

GATA uses gold prices quoted by USAGold.com to estimate the level of gold swaps held by the BIS at month-ends.

—–

As noted already, the BIS in recent times has refused to explain its activities in the gold market, nor for whom the bank is acting:

Despite this reticence the BIS has almost certainly acted on behalf of central banks in taking out these swaps, as they are the BIS’ owners and control its Board of Directors. Historically, the BIS has often acted on behalf of the Federal Reserve.

This refusal to explain prompts some observers to believe that the BIS acts as an agent for central banks intervening surreptitiously in the gold and currency markets, providing those central banks with access to gold as well as protection from exposure of their interventions.

As mentioned above, it is possible that the swaps provide a mechanism for bullion banks to return gold originally lent to them by central banks to cover bullion bank shortfalls of gold. Some commentators have suggested that a portion of the gold held by exchange-traded funds and managed by bullion banks is sourced directly from central banks.

—–

Appendix A

Remarks on the underlying federal government deficit for the year ended September 30, 2023.

The reported federal government deficits for the last two fiscal years are not fully representative of the underlying trends.

The deficit in the year to September 30, 2022, is reported as $1,375 billion and the deficit for the year to September 30, 2023 is reported to be $1,695 billion. However, in 2022 a charge of $430 billion was taken to write off some of the student debt owed to the government. Part of this write off was barred by the Supreme Court in June 2023 and consequently the decision was taken in August 2023 to write back an amount of $319 billion to accommodate the court decision. Hence the underlying trend figures for the deficits in the 2 years should be a deficit of $1,056 billion (1,375 – 319) in the year to September 30, 2022, and $2,014 billion (1,695 + 319) in the year to September 30, 2023. This is an increase of 91%.

The $319 billion adjustment to student loan debt is reported in the August 2023 monthly Treasury statement. Quite surprisingly it is not highlighted in the September monthly statement.

No doubt there are all sorts of other reasons, such as the war in Ukraine, that will affect the comparison, but it is really quite surprising that there hasn’t been more commentary about the one-off impact of the adjustment to student loan relief.

The interest costs of the federal government also appear to require some adjustment to be able to deduce the underlying trend. This is because the results reported for interest costs are done differently for the interest costs relating to the debt held by the public and for the interest costs for the “special issues” debt, which is debt held by various long-term government-sponsored funds, such as for military pensions. The interest cost for the debt held by the public is done in what most financial professionals regard as the correct way, which is to calculate the interest cost for the year regardless of when the interest payments are made — this is what accountants call the “accruals basis.” The interest costs reported for this aspect of the government debt is $489 billion in the year to September 30, 2022, and $666 billion for the year to September 30, 2023, which is an increase of 36%. However, the interest cost on the “special debt,” which is based on when the interest is paid, has fallen to $213 billion in fiscal 2023 from $228 billion in fiscal 2022.

It is difficult to correct this to an accruals basis without the relevant information, but with “special debt” increasing by about 2% in the year it seems implausible that the underlying interest charge has declined. It also seems unlikely that interest payments will be made in advance of interest being charged on an accruals basis, and given the recent problems of keeping within the debt ceiling, it seems plausible to regard the $213 billion reported in fiscal 2023 as more likely to have been suppressed than the $238 billion reported in fiscal 2022 to have been accelerated. So perhaps the underlying interest charge on the “special debt” in fiscal 2023 is maybe $50 billion higher than the reported cash basis reported cost of $213 billion.

All the relevant reported figures above come from the September 2023 Monthly Treasury Statement.

Hence it seems plausible that the underlying deficit in fiscal 2023 was around $2.1 trillion, adjusting for the student loan relief and estimating the accruals basis interest charge for the entire federal government debt. This also implies that the underlying interest costs of the federal government were running at about $0.95 trillion annually in the year to September 30, 2023. Given the increases in base interest rates made since June 2022, the increases expected in total debt issued (especially bearing in mind the much higher underlying deficit in fiscal 2023), and the need regularly to refinance parts of the existing debt with borrowings that will attract a higher interest charge, it seems entirely reasonable to forecast that the total debt interest charge will rise considerably in fiscal 2024, perhaps even to $1.4-$1.5 trillion.

—–END

GATA secretary reviews gold market intervention undertaken through BIS

Submitted by admin on Sun, 2023-11-12 19:06Section: Daily Dispatches

7:08p ET Sunday, November 12, 2023

Dear Friend of GATA and Gold:

Your secretary/treasurer, interviewed during the recent New Orleans Investment Conference by Kai Hoffman of Soar Financial Group, discussed the recent decline in the gold swaps undertaken by the Bank for International Settlements, activity that signifies market intervention by central banks. This decline, your secretary/treasurer said, may hint that central banks are preparing for a higher gold price.

But your secretary/treasurer adds that central bank gold reserve data can’t be trusted.

The interview is 17 minutes long and can viewed at YouTube here:

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

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/

end

5 a. IMPORTANT COMMENTARIES ON COMMODITIES: COCOA

‘Cocoa Mayhem’ Sends Prices To $4,000 Per Ton, Highest Since 1978

SATURDAY, NOV 11, 2023 – 12:40 AM

Cocoa prices Friday topped $4,000 per ton in New York, the highest level since 1978, as the outlook of poor crop harvests across West Africa has been a bullish factor pushing prices higher this week. There is also an increasing risk that El Nino-induced weather disturbances could cause the global cocoa market to sink into a deficit for the third year.

According to Bloomberg, harvests in Ivory Coast and Ghana – some of the world’s largest cocoa producers – are producing lower crop yields, which has led to tighter supplies, therefore supporting higher prices.

“The market does not seem convinced that production will recover enough to avoid a supply deficit for 2023/24,” ADM Investor Services Inc. analysts said in a note.

Cocoa futures rose 1% in New York, topping $4,000 a ton for the first time in 45 years.

Analysts warn El Nino-induced weather disturbances could bring drier weather to top-growing regions. They say that could result in a third year of deficits.

“The expectation of a supply deficit has been compounded with weather variations, especially in West Africa,” the International Cocoa Organization said in a recent report.

In June, we told readers: Global Cocoa Shortage Sends Prices Soaring As “Consumers Should Brace” For ‘Chocolateflation’… Fast forward to Halloween, ‘candyflation‘ strikes:

Data from retail price tracking website Datasembly reveals consumers have been slapped with the second year of double-digit inflation in the candy aisle. Prices for candy jumped 13% this month compared to prices last October. That’s up from a 14% increase in candy in October 2022.

Earlier this week, Oreo-maker Mondelez International said it would have to hike prices on some of its products due to the soaring cocoa and sugar prices.

Meanwhile, sugar prices hit decade highs on global shortage fears in April. And Arabica coffee prices are set to move higher after inventories hit 24-year lows.

This all might indicate that food inflation is very sticky. As one ag analyst warned this week, the current global food crisis is ‘much worse than 2008‘.

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 DOWN AT 7.2909

OFFSHORE YUAN: DOWN TO 7.2982

SHANGHAI CLOSED UP 7.56 PTS OR 0.25%

HANG SENG CLOSED UP 222.95 PTS OR 1.30%

2. Nikkei closed UP 17.00 PTS OR 0.05%

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX UP TO 105.75 EURO RISES TO 1.0678 UP 18 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.869 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 151.76/JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.6935***/Italian 10 Yr bond yield DOWN to 4.524*** /SPAIN 10 YR BOND YIELD DOWN TO 3.734…**

3i Greek 10 year bond yield RISES TO 3.889

3j Gold at $1936.80 silver at: 22.10 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 36 /100 roubles/dollar; ROUBLE AT 91.92//

3m oil into the 77 dollar handle for WTI and 81 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 151.76// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.869% 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 0.9042 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9655 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: 4.636 UP 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.751 UP 2 BASIS PTS/

USA 2 YR BOND YIELD: 5.048 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 28.59…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 2 BASIS PTS AT 4.3565

end

2.a Overnight: Newsquawk and Zero hedge:

US Futures Drop, Europe Gains Ahead Of Key CPI Data

MONDAY, NOV 13, 2023 – 08:14 AM

After last week’s torrid rally, and following gains on 9 out of the past 10 days, US stocks are set for a lower open as traders turn cautious ahead of key U.S. CPI data later this week which will give cues on what the Fed could do next, while investors also assessed the risk of a government shutdown on the 17th. As of 7:45am, S&P 500 futures are down 0.2% while Nasdaq 100 contracts lose 0.3% after the underlying indexes closed sharply higher on Friday. European stocks rose on Monday, with the Stoxx 600 index climbing 0.5%, well off the best levels however, with health firms were among the strongest performers as Novo Nordisk jumped almost 4% after a study backed the use of Wegovy to cut heart attacks and deaths in obesity patients. The news also benefited US-listed rival Eli Lilly & Co., which has its own weight-loss medications. Treasury yields slipped, while oil steadied and bitcoin traded around $37K.

In premarket trading, Boeing shares advanced almost 4%, thanks to a $52 billion deal with Emirates, as well as news that China is weighing an end to a freeze on purchases of Boeing aircraft. Plug Power shares fell another 4.2% following Friday’s plunge, after Morgan Stanley cuts its price target on the hydrogen fuel cell maker after the company’s going-concern warning last week. StoneCo shares gain 4.9% after the financial technology provider reported results late Friday that beat expectations thanks to strength in its financial services division.

Market attention is firmly focused on Tuesday’s US CPI data, which are expected to show inflation easing to a year-on-year rate of 3.3% in October, down from 3.7% in the prior month. While several Fed officials have rejected the likelihood of swift rate cuts, money markets and economists are sticking with policy-easing bets. Morgan Stanley forecast deep interest-rate cuts to start from June, while Goldman Sachs predicted the first cut around end-2024.

“If we get inflation in line with consensus, it will be good news but I don’t think the data will alter the tone we are hearing from Fed officials pushing back against markets’ excitement over rate cuts,” said Rabobank strategist Jane Foley. She predicted more “hawkish speak from central banks to control the degree to which markets price cuts.”

At the same time, there are more signs of thawing US-China ties with Joe Biden and Xi Jinping due to meet on Wednesday. The White House has cited a resumption of US-China military communications as a priority. Hong Kong-listed Chinese stocks gained 1.3%.

European stocks rose, with the Stoxx 600 up 0.6%. Health care stocks are among the best performers, with Novo Nordisk up as much as 4.3%, the most in a month, after the Danish pharmaceutical giant this weekend presented full data from a trial backed the use of Wegovy to cut heart attacks and deaths in people with obesity and a history of cardiac disease. Here are some other notable European movers:

Evolution gains as much as 6.7%, the most since February, after the Swedish online gambling firm’s CEO bought almost 100,000 shares in the company for a total value of SEK100 million ($9.2 million)
Banca Monte dei Paschi di Siena rises as much as 6.5% leading gains on the FTSE MIB index after Deutsche Bank upgraded the bank to buy from hold. Other lenders such as Banco BPM and BPER Banca also advance
British Land rises as much as 6.5% to a three-month high after underlying earnings per share top estimates in first half of fiscal year. Morgan Stanley says rental growth was “impressive”
Eramet rose as much as 4.2% after the French group announced new production and financial targets at its investor day
Thyssenkrupp Nucera gains as much as 2.5% as Goldman sach initiates at neutral, saying it sees growth potential for the German green hydrogen electrolysis technology company; sets PT at €16
Tullow Oil rises as much as 5.5%, the most since Oct. 9, after the exploration and production company entered into a $400 million five-year notes facility agreement with Glencore Energy UK, according to a statement
Technip Energies drops as much as 3.8% after Barclays double-downgrades to underweight from overweight, saying its peers trade at significant discounts and offer better value
Aperam falls as much as 4% after AlphaValue/Baader cut the recommendation on the specialty steelmaker to add, from buy. The broker says 3Q was the “worst quarter ever” for the group and demand remains weak
Dr. Martens shares fall as much as 5.2%, after the bootmaker is downgraded to equal-weight from overweight at Barclays, which expressed concern on the company’s focus on direct-to-consumer growth
Asos falls as much -2.4% after Morgan Stanley said the growth outlook for online apparel retailers still looks challenging despite the progress made on margins in 2023
FDM Group shares plummet as much as 18%, the steepest drop since March 2020, after the professional services provider signaled its 2024 performance would be hit by a decline in its workforce

Earlier in the session, Asian equities erased opening gains as US index futures drift lower. The Nikkei was little changed; Korea’s Kospi surrendered an early 1.1% jump to trade near flat; the ASX 200 is modestly softer. Greater China indexes are mixed; Hang Seng Tech index is 0.6% higher after increase in Singles’ Day sales. Shanghai Composite edges 0.2% weaker. Taiex outperforms regional peers on TSMC rally. Some more details:

Hang Seng and Shanghai Comp traded cautiously as optimism from Alibaba and JD.com’s higher Singles Day sales was offset by cautiousness ahead of the approaching Chinese data and Biden-Xi summit.
Japan’s Nikkei 225 initially gained after softer-than-expected PPI data which printed its slowest pace of annual growth since February 2021 although the index eventually reversed its gains amid rising yields and a slew of earnings.
Australia’s ASX 200 was lacklustre amid weakness in the top-weighted financial sector after ANZ Bank earnings which posted a record FY cash profit but missed analysts’ forecasts and noted the external environment is likely to remain challenging.
Indian stocks declined, underperforming most Asian peers, as investors dump technology and financial services shares. The S&P BSE Sensex Index fell 0.5% to 64,933.87 in Mumbai, while the NSE Nifty 50 Index declined 0.4%. Out of 30 shares in the Sensex index, seven rose and 20 fell, while three were unchanged. Of the 19 sectoral indexes tracked by BSE Ltd., 13 declined. An index tracking technology stocks was the biggest sectoral laggard.

In FX, the Bloomberg Dollar Spot Index steadied after Moody’s downgraded the US credit rating outlook, while Treasury yields fell 1-2bp across the curve; market focus rests on US CPI data out Tuesday and the outlook for Federal Reserve policy

USD/JPY rose as much as 0.22% to 151.86 as Japan’s widening yield gap with Treasuries saw the yen slump to a fresh one-year low against the dollar
GBP/USD climbed as much as 0.21% to 1.2253, the highest level since Thursday, as data indicated UK house prices fell the most in five years in November
EUR/USD crept up as much as 0.14% to 1.0701 as the ECB’s de Guindos warned inflation may pick up again

Treasuries rise, with US 10-year yields falling 2bps to 4.63% as treasuries were slightly richer across the curve, recouping some of the late-Friday losses spurred by Moody’s shift to negative outlook on US credit rating. European bonds outperform slightly, with Italy debt leading gains after Fitch Ratings left the nation’s rating unchanged after Friday’s close. US session is light on economic data and Fed speakers, and coupon auction slate is blank until Nov. 20. US yields richer by 1bp-2bp with 10-year around 4.64%, underperforming comparable gilts and bunds by ~~1bp; 5s30s spread slightly steeper on the day at ~8bp after dropping below 6bp Friday. Dollar IG issuance slate empty so far, though Monday is expected to account for the bulk of the $30b in new bond sales anticipated this week.

In commodities, oil prices are little changed with WTI trading near $77.33. Spot gold falls 0.1%.

Bitcoin is under modest pressure and has lost the $37k handle, but action overall is limited in nature with overall newsflow fairly limited thus far in European hours and as such BTC remains well within familiar ranges.

US economic data scheduled for the session includes October NY Fed inflation expectations (11am) and monthly budget statement (2pm). Scheduled Fed speakers include Cook at 8:50am; Williams, Jefferson, Barkin, Barr, Goolsbee, Mester and Waller also due this week

Market Snapshot

S&P 500 futures down 0.2% to 4,420.50
STOXX Europe 600 up 0.8% to 446.65
MXAP up 0.3% to 156.38
MXAPJ up 0.6% to 489.47
Nikkei little changed at 32,585.11
Topix little changed at 2,336.62
Hang Seng Index up 1.3% to 17,426.21
Shanghai Composite up 0.2% to 3,046.53
Sensex down 0.5% to 64,942.58
Australia S&P/ASX 200 down 0.4% to 6,948.84
Kospi down 0.2% to 2,403.76
German 10Y yield little changed at 2.72%
Euro up 0.1% to $1.0700
Brent Futures down 0.2% to $81.27/bbl
Gold spot down 0.0% to $1,939.32
U.S. Dollar Index down 0.16% to 105.69

Top Overnight News

Italy credit decision from Moody’s is being watched closely – Italy is rated Baa3 (the lowest rung of investment grade) w/a negative outlook and markets are on edge over whether the country will be moved into junk territory. BBG
ECB Vice President Luis de Guindos warned that consumer-price growth may pick up again temporarily, though its prevailing direction is downwards. “We expect a temporary rebound in inflation in the coming months as the base effects from the sharp increase in energy and food prices in autumn 2022 drop out,” Guindos said. “But we see the general disinflationary process continuing over the medium term.” BBG
Germany is set to double aid for Ukraine next year to EU8B and boost its total defense spending beyond the 2% of GDP threshold pledged by all NATO members. BBG
Netanyahu said Israel would retain “overall security control” over Gaza and expressed opposition to a Palestinian Authority-led gov’t assuming control of the territory. The Hill
US credit outlook downgraded from stable to negative by Moody’s after the Friday close (the AAA rating was affirmed), with the agency citing “downside risks to the country’s fiscal strength” as the primary reason for the change (along with continued political polarization). Moody’s
Speaker Johnson unveiled a funding bill on Saturday that would extend spending authorization until 1/19 for some parts of the government and until 2/2 for others, but passage is far from guaranteed. BBG
US launches a new round of airstrikes against Iranian-backed proxy facilities in Syria in retaliation for recent attacks in what is being called a “significant escalation” by the White House. WaPo
FT-Michigan Ross poll underlines president’s struggle to overcome impact of inflation on voters’ economic outlook. Only 14% of Americans say they are better off financially since Biden took office while 70% feel the president’s economic policies either hurt the US economy or had no impact. FT
A Boeing breakthrough in China may be unveiled when Joe Biden and Xi Jinping meet this week, people familiar said. Beijing may signal a commitment for 737 Max jetliners during the APEC summit, ending a long freeze on purchases as the leaders attempt to put a floor under their fraught relationship. BBG

A more detailed look at global markets courtesy of Newsquawk

European bourses are in the green, Euro Stoxx 50 +0.7%, despite a relatively tepid APAC handover with performance more in-fitting with that seen on Friday on Wall Street. Sectors are firmer across the board featuring outperformance in Travel & Leisure as Evolution’s CEO purchases shares, Health Care supported by Novo Nordisk obesity data while Banking names derive support from the likes of SocGen and BMPS. Stateside, futures trade on the back foot, ES -0.2%, despite firmer European trade with updates since Friday’s close unfavourable and include Moody’s altering its US rating and time running out for a resolution before a US shutdown; though, reporting on the shutdown has been mixed on Johnson’s bill. Emirates Airlines announced orders for 90 777-X Boeing (BA) jets worth USD 52bln; ordering General Electric (GE) 9X Engines and updating Dreamliner order for 35 units in total.

Top Asian News

Chinese NDRC officials said the state planning agency will set up six platforms to facilitate private business, as well as monitor and solve problems, while the NDRC head said China’s private economy is expected to receive more favourable policies in the future, according to Global Times.
Chinese officials met with US Treasury Secretary Yellen in the past week and raised concerns about investment restrictions, while China and the US agreed to avoid escalation of frictions.
China is considering ending the freeze on Boeing (BA) with a 737 Max deal in the US, according to Bloomberg.
US and Indonesia are to discuss the potential for a deal on electric vehicle minerals with Indonesia President Widodo to meet US President Biden at the White House on Monday, according to Reuters sources cited.
RBA’s acting Assistant Governor Kohler said the decline in inflation is to be more gradual than previously thought and bringing inflation back to the target is likely to be more drawn out. Kohler also stated that domestically sourced inflation has been widespread and slow to decline, while she noted the key risk is that high inflation today feeds into inflation expectations.
Japanese Finance Minister Suzuki says sudden FX moves are undesirable; does not comment on FX levels; will monitor markets and respond with a sense of urgency. Currency rates should be set by markets reflecting fundamentals.
PBoC will step up monitoring and analysis of systemic risks, shadow banks and financial technological innovation, via Reuters citing sources. Will handle risks of small and medium-sized financial institutions in a timely manner.

APAC stocks were mostly subdued and failed to sustain the early momentum from last Friday’s rally on Wall St with the region cautious ahead of this week’s key risk events including US CPI and Chinese activity data, the Biden-Xi meeting on the sidelines of the APEC summit and the US government shutdown deadline. ASX 200 was lacklustre amid weakness in the top-weighted financial sector after ANZ Bank earnings which posted a record FY cash profit but missed analysts’ forecasts and noted the external environment is likely to remain challenging. Nikkei 225 initially gained after softer-than-expected PPI data which printed its slowest pace of annual growth since February 2021 although the index eventually reversed its gains amid rising yields and a slew of earnings. Hang Seng and Shanghai Comp traded cautiously as optimism from Alibaba and JD.com’s higher Singles Day sales was offset by cautiousness ahead of the approaching Chinese data and Biden-Xi summit.

Top European News

ECB’s Centeno is facing an ethics review by an independent watchdog following a failed proposal by Portugal’s outgoing PM Costa for Centeno to replace him instead of holding new elections, according to FT.
ECB’s de Guindos says he expects a temporary rebound in inflation in the coming months as the base effects from the sharp increase in energy and food prices in autumn 2022 drop out of the year-on-year calculation. At the December meeting, will be in a better position to reassess the inflation outlook and required policy action. Also seeing increasing signs of the impact of our policy decisions on the real economy
German Ifo Survey (Oct): 18.2% of firms reported problems (prev. 24.0% M/M); material shortages in the manufacturing sector have eased significantly, supply situation near pre-COVID levels. Ifo says “firms should plan now for future shortages, diversify their supply chains, and increase inventory levels”. The auto sector remained the most affected by supply bottlenecks.
Fitch affirmed Italy at BBB; Outlook Stable and affirmed Poland at A-; Outlook Stable on Friday.
UK Home Secretary Braverman sacked, replaced by Cleverley. Former PM David Cameron appointed as UK Foreign Minister.

Dollar drifts ahead of NY Fed SCE and US CPI data on Tuesday, DXY slips into a slightly softer 105.85-68 range.
Aussie outperforms as acting RBA Deputy Governor warns that battle to get inflation back to target will be drawn out, AUD/USD and AUD/NZD cross elevated between 0.6385-51 and 1.0835-1.0775 respective bands.
Yen lags on yield dynamics and as Japanese corporate goods prices come in softer than expected, USD/JPY nudges closer to 152.00 from 151.40 where 1.3bln option expiries reside.
Pound and Euro perky vs Buck as the former consolidates on 1.2200 handle and latter probes 1.0700.
PBoC set USD/CNY mid-point at 7.1769 vs exp. 7.2889 (prev. 7.1771)

Fixed Income

Some respite for debt ahead of key risk events including top-tier data.
Bunds probe Fib resistance on the way up to 129.89 from 129.48.
Gilts back on the 95.00 handle within 95.22-94.64 bounds and T-note nearer top of 107-15/07+ range.
BTPs outpace peers after Fitch affirmed Italian BTP rating and speculation mounts about buyback or exchange auction.

Commodities

Crude benchmarks rebounded from session lows and are just about in the green; though, initial price action was somewhat choppy and the move thus far keeps benchmarks well within recent ranges.
WTI Dec’23 and Brent Jan’24 around USD 77.35/bbl and USD 81.60/bbl respectively; again, headlines have been numerous over the weekend and primarily on geopols (see the section below) while for crude specifically the OPEC MOMR is due at 12:00GMT/07:00EST.
Spot gold is little changed as the USD eases from best with XAU in a relatively narrow USD 10/bbl intraday range. However, spot silver has come under further pressure after losing the USD 22/oz mark in APAC trade.
Base metals bolstered with marked gains in the likes of LME Copper and Dalian Iron Ore, attributed to property sector optimism within China by some and comes after a bout of upside in the regions equity bourses just prior to the European cash open.
Iraq’s Oil Minister Abdel-Ghani said on Sunday that he expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region’s oilfields within three days.
Iraq and ExxonMobil (XOM) signed a settlement agreement allowing PetroChina (857 HK) to become a lead contractor at the West Qurna 1 oil field.
Kuwait Integrated Petroleum Industries Company said there was a sudden interruption of fuel supplies at Kuwait’s Al Zour Refinery due to a defect in one of the main valves which almost halted production, according to state media.

Geopolitics: Middle East

Staff at the Al-Shifa Hospital which is the largest in Gaza said patients and refugees were trapped in horrific conditions amid heavy fighting in nearby streets and it was also reported that the hospital had run out of water, food and electricity. Furthermore, WHO’s Tedros said they managed to get in contact with staff at the hospital and that it is no longer functioning as a hospital, according to BBC and Reuters.
Israel PM Netanyahu said they offered Gaza’s Al-Shifa Hospital fuel but Hamas refused to receive it, according to an interview with NBC. It was also reported that Hamas suspended hostage negotiations over Israeli forces’ handling of Al-Shifa Hospital and denied refusing any amount of fuel from Israel, while it added that Israel’s offer to provide 300 litres belittles the sick and wounded and is enough to last for 30 minutes.
Israel’s military said Hamas lost control of northern Gaza and residents have evacuated to the south despite Hamas instructions. Furthermore, the Israeli military said that civilians were wounded by an anti-tank missile near the Lebanon border and it retaliated with artillery fire, while Israel warned it was poised to impose quiet on the Lebanese front after hostilities increased on Sunday, according to Reuters.
Palestinian President Abbas said that their people are facing a genocidal war and that they call on the US to stop the Israeli aggression against Gaza, while he added that they want international protection.
US President Biden and Qatar’s Emir Al-Thani engaged in discussions to boost aid to Gaza. It was also reported that US Secretary of State Blinken and Qatar’s PM discussed efforts to evacuate the critically wounded and urgently increase the flow of humanitarian aid into Gaza, as well as discussed efforts to ensure the safe passage of foreign nationals out of Gaza and immediate return of hostages during a phone call on Saturday, according to Reuters citing a State Department spokesperson.
White House National Security Adviser Sullivan said the US does not want to see firefights in hospitals and that the US is involved in negotiations between Israel and Qatar over hostages. Sullivan also stated that President Biden is determined to see a re-establishment of military-to-military ties with China and the question of Iran’s nuclear program and the threat it poses will be on the agenda meeting with Chinese President Xi.
EU’s top diplomat Borrell called for immediate humanitarian pauses in Gaza and the establishment of humanitarian corridors. Borrell also stated that they call on Hamas to immediately and unconditionally release all hostages, while they condemn the use of hospitals and civilians as human shields by Hamas.
Egyptian President Sisi called for an immediate sustainable ceasefire in Gaza without restrictions or conditions. It was separately reported that Egyptian security sources said the first group of Gaza evacuees crossed the Rafah border following the reopening of Sunday.
Iranian President Raisi said the Gaza siege should end immediately and called on Islamic countries to impose oil and goods sanctions on Israel, while he added that there is no other way but to resist Israel and that they kiss the hands of Hamas for its resistance against Israel.
Syrian President Assad urged a halt to any political process with Israel.
US Air Force conducted two airstrikes against Iranian proxy targets in eastern Syria, according to Fox News.
Iraq’s Harir Airbase hosting US and international forces was targeted by an armed drone which caused damage to infrastructure.
“IRGC Air Force Commander: Israel’s war on Gaza has expanded and Lebanese Hezbollah is involved in it”, according to Al Jazeera.. “There is a possibility of Israel’s war on Gaza expanding and we are ready for all eventualities”

Geopolitics – Other

German Chancellor Scholz’s government agreed to double military assistance to Ukraine for next year to EUR 8bln.
Russian Foreign Minister Lavrov said the EU isn’t hiding its intentions to push Russia out of Central Asia and that these attempts are futile, while he added that Russia has been historically present there and is not going to disappear from there, according to AFP.
US, Japan and South Korean defence officials assessed growing nuclear and missile threats from North Korea at a meeting on Sunday, while the US and South Korea revised their tailored deterrence strategy in the face of North Korean nuclear advancements, according to Yonhap. It was separately reported that North Korea criticised the UN Command meeting scheduled in South Korea as confrontational for the region and it called for the UN Command to be dissolved which it said was an illegal war organisation, according to KCNA.
Russia’s Kremlin says Polish plans to deploy tanks closer to the Belarus border would escalate tensions.

US Event Calendar

11:00: Oct. NY Fed 1-Yr Inflation Expectat, prior 3.67%
14:00: Oct. Monthly Budget Statement, est. -$65b, prior -$171b

Central Bank Speakers

08:50: Fed’s Cook Gives Introductory Remarks

DB’s Jim Reid concludes the overnight wrap

This week will be the opposite of last week with not so much Fed speak but lots of important data and events. It’s hard to look much beyond Tuesday’s US CPI as the key highlight of the week butUS retail sales (Wednesday) will a big driver of GDP forecasts. PPI (Wednesday) and a raft of US housing data (NAHB – Thursday, starts/permits – Friday), will be other notable US releases alongside the NY Fed 1-yr inflation expectations today. Something that will sneak up on markets will be the potential US government shutdown on Friday.

We also have an APEC economic leaders’ summit week running in San Francisco until Friday having started on Saturday. A bilateral Xi and Biden meeting on Wednesday will be very important so watch out for headlines. Already Bloomberg are reporting overnight that China may end a 5-yr quasi-freeze in buying Boeing products by restarting 737 jetliner purchases. So the mood music is picking up ahead of the meeting.

Staying with China, it has its monthly big data dump also on Wednesday. In Europe we have the second print of the EA Q3 GDP (flash -0.1%), the ZEW survey and UK employment (tomorrow) and UK inflation (DB preview here) and EA IP (Wednesday). Note that on Friday Moody’s will conclude its review of Italy’s rating. It’s on negative outlook and one notch from high yield territory but all three other main rating agencies have affirmed their rating in recent weeks (Fitch the latest after hours on Friday) and rate it higher than Moody’s so they would really be going out on a limb if they downgraded whatever the fundamental rationale. As a curveball look out for the state of emergency issued in Iceland after a series of powerful earthquakes have put them on high alert of a major volcanic eruption. The risk of an impact on airline travel seems to have been reduced by favourable wind patterns. This is good news as long-time readers will remember that during the last major Icelandic eruption in 2010 I got stuck in Boston for 8 days, and I’m travelling this week.

Going through the main highlights in more detail now, let’s start with US CPI tomorrow. Our economists and consensus expect headline to come in at only +0.1% mom due to softer energy prices.DB think core edges up to +0.4% from +0.3% last month (consensus unchanged). If DB is correct the YoY rate will be 3.3% and 4.2%, respectively, with the consensus 0.1pp lower on core. On DB’s estimates, the 3m and 6m annualised core reading would be 4.1% (up 1pp) and 3.6% (unch), respectively. So that will still be a headache for the Fed if realised.

DB expect PPI on Wednesday to see headline at +0.2% (from +0.5%), due to softer energy prices, and core steady at +0.3% with all the attention on the components that directly feed into the Fed’s preferred core PCE, such as health care services and airfares.

On the same day US retail sales will be important to GDP forecasts. DB expect weak unit motor vehicle sales to encourage a -0.4% print on the headline (from +0.7%), with the same forecast for sales ex-auto (from +0.6%) due to lower gasoline prices. DB expect retail control, which goes into GDP, to be only +0.1% (from +0.6%). As our economists point out this grew at an annualised +6.8% in Q3. So potentially a big step down.

See the rest of the week ahead in the day-by-day calendar of events at the end as usual. Note that 90% of the S&P 500 have reported now but with Nvidia next week breathing some life into the very late stages of the season.

Overnight in Asia, Japanese October producer prices came in below expectations, rising +0.8% month-on-month (vs +0.9% expected). In terms of markets the Nikkei is fairly flat as I type. Elsewhere, the Hong Kong Hang Seng is +0.10%, the Shanghai Comp +0.11%, the Kospi -0.10%, whilst the Chinese CSI 300 is underperforming, down -0.27%. S&P 500 (-0.46%) and NASDAQ (-0.51%) futures are notably lower for this time of day after the US outlook change late on Friday (see below). 10yr yields are currently up +0.4bps with 30yrs +1.7bps higher.

Now turning back to last week, on Friday we had the preliminary results for November’s University of Michigan consumer sentiment survey, which posted below expectations at 60.4 (vs 63.7 expected). Aside from the headline result, inflation expectations for both 1yr ahead and 5 to 10yrs came in above forecasts at 4.4% (vs 4.0% expected) and 3.2% (vs 3.0% expected). Breaking down the details, much of the raised expectations for inflation derived from concerns about higher oil prices in the context of the conflict in Israel. The first print is often revised down and energy prices have fallen back again of late so while these are not good prints, they may not stick. Indeed, markets didn’t react much, especially with US retail gasoline prices falling for a seventh consecutive week (-2.22%).

Late in Friday’s US session (after the equity bell) Moody’s shifted its Aaa credit rating of the US from stable to negative outlook, citing increased downside fiscal risks. S&P and Fitch ratings are already a notch lower at AA+, so the Moody’s move may be seen as a step towards catching up to the other rating agencies but if it did lose its last AAA rating that would be highly symbolic. It did weigh modestly on Treasuries. 10yr yields were virtually flat on the day prior to the news, but then moved higher in the final half an hour to close up +2.7bp. In week-on-week terms, they were up +8.0bps. The 30yr yield (-0.3bps) stabilised after Thursday’s losses and was flat on the week (-0.4bps) after a volatile few days that included the disappointing 30yr auction. The short-end sold off on Friday, as 2yr yields rose +4.2bps, and gained +22.2bps week-on-week, the largest weekly rise since May and back to pre-“dovish”-FOMC level. So also a big flattening last week .

The 10yr German bund yield continued to rise on Friday (+7.1bps), in part catching up to US sell-off on Thursday. In weekly terms, yields were up +7.3bps.

After stumbling on Thursday following the poor 30yr Treasury auction, US equities recovered strongly on Friday. The S&P 500 gained +1.56%, finishing the week up +1.31%, to its highest level in nearly two months. Much of Friday’s momentum was driven by the tech giants, with the NASDAQ up +2.05%, and the FANG+ index gaining +2.71% to its highest level since late July. In weekly terms, the indices were up +2.37% and +4.63% respectively. By contrast, the Russell 2000 small cap index fell -3.15% last week (despite a +1.07% rise Friday) .

Over in Europe, risk-off tones dominated on Friday, with all major European equity indices in the red (albeit before at least half of the US rally on Friday). The STOXX 600 fell -1.00% on Friday, after poor earnings outlooks from beverage firm Diageo (-12.17% on Friday) and luxury firm Richemont (-5.20%). Overall, STOXX 600 was near flat on the week (-0.21%). Elsewhere in Europe, the FTSE 100 fell -0.77% week-on-week (and -1.28% on Friday), the French CAC traded flat (-0.03%, and -0.96% on Friday), whereas the German DAX rose +0.30% (but fell -0.77% on Friday).

Lastly, turning to commodities, oil fell for the third consecutive week amid rising demand fears and easing concerns over supply risks from the Middle East, as well as news crude production reached a record high of 13.2 million barrels per day. Brent Crude fell -4.08% to $81.43/bbl, and WTI crude by -4.15% to $77.17/bbl. Oil did pare back losses on Friday, as Brent gained +1.77% and WTI by +1.89%. With perceptions of geopolitical tensions on the decline, gold dropped -2.63% week-on-week (and -1.11% on Friday) to $1,940/ounce, its largest weekly decline since the end of September.

end

2 B) NOW NEWSQUAWK (EUROPE/REPORT))

European bourses bid whilst US Futures slip, AUD bid & Crude bounces; Fed’s Cook due – Newsquawk US Market Open

MONDAY, NOV 13, 2023 – 06:10 AM

European bourses are firmer whilst US futures slip going into a busy week & after Moody’s update
DXY is lacklustre awaiting US CPI on Tuesday, with AUD extending gains and underpinned by RBA’s Kohler
Bonds bounce broadly and fairly firmly, though Bunds ultimately unable to reclaim 130.00
Crude off worst levels and into positive territory despite initial two-way action, OPEC MOMR due
Looking ahead, highlights include US NY Fed Survey of Consumer Expectations, Federal Budget, Speeches from Fed’s Cook & BoE’s Mann

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EUROPEAN TRADE

EQUITIES

European bourses are in the green, Euro Stoxx 50 +0.7%, despite a relatively tepid APAC handover with performance more in-fitting with that seen on Friday on Wall St.
Sectors are firmer across the board featuring outperformance in Travel & Leisure as Evolution’s CEO purchases shares, Health Care supported by Novo Nordisk obesity data while Banking names derive support from the likes of SocGen and BMPS.
Stateside, futures trade on the back foot, ES -0.2%, despite firmer European trade with updates since Friday’s close unfavourable and include Moody’s altering its US rating and time running out for a resolution before a US shutdown; though, reporting on the shutdown has been mixed on Johnson’s bill.
Emirates Airlines announced orders for 90 777-X Boeing (BA) jets worth USD 52bln; ordering General Electric (GE) 9X Engines and updating Dreamliner order for 35 units in total.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
Click here for more details.

FX

Dollar drifts ahead of NY Fed SCE and US CPI data on Tuesday, DXY slips into a slightly softer 105.85-68 range.
Aussie outperforms as acting RBA Deputy Governor warns that battle to get inflation back to target will be drawn out, AUD/USD and AUD/NZD cross elevated between 0.6385-51 and 1.0835-1.0775 respective bands.
Yen lags on yield dynamics and as Japanese corporate goods prices come in softer than expected, USD/JPY nudges closer to 152.00 from 151.40 where 1.3bln option expiries reside.
Pound and Euro perky vs Buck as the former consolidates on 1.2200 handle and latter probes 1.0700.
PBoC set USD/CNY mid-point at 7.1769 vs exp. 7.2889 (prev. 7.1771)
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

Some respite for debt ahead of key risk events including top-tier data.
Bunds probe Fib resistance on the way up to 129.89 from 129.48.
Gilts back on the 95.00 handle within 95.22-94.64 bounds and T-note nearer top of 107-15/07+ range.
BTPs outpace peers after Fitch affirmed Italian BTP rating and speculation mounts about buyback or exchange auction.
Click here for more details.

COMMODITIES

Crude benchmarks rebounded from session lows and are just about in the green; though, initial price action was somewhat choppy and the move thus far keeps benchmarks well within recent ranges.
WTI Dec’23 and Brent Jan’24 around USD 77.35/bbl and USD 81.60/bbl respectively; again, headlines have been numerous over the weekend and primarily on geopols (see the section below) while for crude specifically the OPEC MOMR is due at 12:00GMT/07:00EST.
Spot gold is little changed as the USD eases from best with XAU in a relatively narrow USD 10/bbl intraday range. However, spot silver has come under further pressure after losing the USD 22/oz mark in APAC trade.
Base metals bolstered with marked gains in the likes of LME Copper and Dalian Iron Ore, attributed to property sector optimism within China by some and comes after a bout of upside in the regions equity bourses just prior to the European cash open.
Iraq’s Oil Minister Abdel-Ghani said on Sunday that he expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region’s oilfields within three days.
Iraq and ExxonMobil (XOM) signed a settlement agreement allowing PetroChina (857 HK) to become a lead contractor at the West Qurna 1 oil field.
Kuwait Integrated Petroleum Industries Company said there was a sudden interruption of fuel supplies at Kuwait’s Al Zour Refinery due to a defect in one of the main valves which almost halted production, according to state media.
Click here for more details.

NOTABLE HEADLINES

ECB’s Centeno is facing an ethics review by an independent watchdog following a failed proposal by Portugal’s outgoing PM Costa for Centeno to replace him instead of holding new elections, according to FT.
ECB’s de Guindos says he expects a temporary rebound in inflation in the coming months as the base effects from the sharp increase in energy and food prices in autumn 2022 drop out of the year-on-year calculation. At the December meeting, will be in a better position to reassess the inflation outlook and required policy action. Also seeing increasing signs of the impact of our policy decisions on the real economy
German Ifo Survey (Oct): 18.2% of firms reported problems (prev. 24.0% M/M); material shortages in the manufacturing sector have eased significantly, supply situation near pre-COVID levels. Ifo says “firms should plan now for future shortages, diversify their supply chains, and increase inventory levels”. The auto sector remained the most affected by supply bottlenecks.
Fitch affirmed Italy at BBB; Outlook Stable and affirmed Poland at A-; Outlook Stable on Friday.
UK Home Secretary Braverman sacked, replaced by Cleverley. Former PM David Cameron appointed as UK Foreign Minister.

EUROPEAN DATA

UK Rightmove House Prices MM (Nov) -1.7% (Prev. 0.5%); YY (Nov) -1.3% (Prev. -0.8%)

NOTABLE US HEADLINES

US House Speaker Johnson unveiled a GOP stopgap funding bill which includes January and February end dates, while the White House said Republicans are wasting time on an un-serious proposal for a two-step stopgap measure.
Moody’s affirmed US at AAA; Outlook Cut to Negative from Stable on Friday.
Goldman Sachs 2024 US outlook: sees higher than consensus growth, inflation to fall, Fed to cut rates from Q4 2024; risks include geopolitics and something ‘breaking’.
Click here for the US Early Morning Note.

GEOPOLITICS

MIDDLE EAST

Staff at the Al-Shifa Hospital which is the largest in Gaza said patients and refugees were trapped in horrific conditions amid heavy fighting in nearby streets and it was also reported that the hospital had run out of water, food and electricity. Furthermore, WHO’s Tedros said they managed to get in contact with staff at the hospital and that it is no longer functioning as a hospital, according to BBC and Reuters.
Israel PM Netanyahu said they offered Gaza’s Al-Shifa Hospital fuel but Hamas refused to receive it, according to an interview with NBC. It was also reported that Hamas suspended hostage negotiations over Israeli forces’ handling of Al-Shifa Hospital and denied refusing any amount of fuel from Israel, while it added that Israel’s offer to provide 300 litres belittles the sick and wounded and is enough to last for 30 minutes.
Israel’s military said Hamas lost control of northern Gaza and residents have evacuated to the south despite Hamas instructions. Furthermore, the Israeli military said that civilians were wounded by an anti-tank missile near the Lebanon border and it retaliated with artillery fire, while Israel warned it was poised to impose quiet on the Lebanese front after hostilities increased on Sunday, according to Reuters.
Palestinian President Abbas said that their people are facing a genocidal war and that they call on the US to stop the Israeli aggression against Gaza, while he added that they want international protection.
US President Biden and Qatar’s Emir Al-Thani engaged in discussions to boost aid to Gaza. It was also reported that US Secretary of State Blinken and Qatar’s PM discussed efforts to evacuate the critically wounded and urgently increase the flow of humanitarian aid into Gaza, as well as discussed efforts to ensure the safe passage of foreign nationals out of Gaza and immediate return of hostages during a phone call on Saturday, according to Reuters citing a State Department spokesperson.
White House National Security Adviser Sullivan said the US does not want to see firefights in hospitals and that the US is involved in negotiations between Israel and Qatar over hostages. Sullivan also stated that President Biden is determined to see a re-establishment of military-to-military ties with China and the question of Iran’s nuclear program and the threat it poses will be on the agenda meeting with Chinese President Xi.
EU’s top diplomat Borrell called for immediate humanitarian pauses in Gaza and the establishment of humanitarian corridors. Borrell also stated that they call on Hamas to immediately and unconditionally release all hostages, while they condemn the use of hospitals and civilians as human shields by Hamas.
Egyptian President Sisi called for an immediate sustainable ceasefire in Gaza without restrictions or conditions. It was separately reported that Egyptian security sources said the first group of Gaza evacuees crossed the Rafah border following the reopening of Sunday.
Iranian President Raisi said the Gaza siege should end immediately and called on Islamic countries to impose oil and goods sanctions on Israel, while he added that there is no other way but to resist Israel and that they kiss the hands of Hamas for its resistance against Israel.
Syrian President Assad urged a halt to any political process with Israel.
US Air Force conducted two airstrikes against Iranian proxy targets in eastern Syria, according to Fox News.
Iraq’s Harir Airbase hosting US and international forces was targeted by an armed drone which caused damage to infrastructure.
“IRGC Air Force Commander: Israel’s war on Gaza has expanded and Lebanese Hezbollah is involved in it”, according to Al Jazeera.. “There is a possibility of Israel’s war on Gaza expanding and we are ready for all eventualities”

OTHER

German Chancellor Scholz’s government agreed to double military assistance to Ukraine for next year to EUR 8bln.
Russian Foreign Minister Lavrov said the EU isn’t hiding its intentions to push Russia out of Central Asia and that these attempts are futile, while he added that Russia has been historically present there and is not going to disappear from there, according to AFP.
US, Japan and South Korean defence officials assessed growing nuclear and missile threats from North Korea at a meeting on Sunday, while the US and South Korea revised their tailored deterrence strategy in the face of North Korean nuclear advancements, according to Yonhap. It was separately reported that North Korea criticised the UN Command meeting scheduled in South Korea as confrontational for the region and it called for the UN Command to be dissolved which it said was an illegal war organisation, according to KCNA.
Russia’s Kremlin says Polish plans to deploy tanks closer to the Belarus border would escalate tensions.

CRYPTO

Bitcoin is under modest pressure and has lost the USD 37k handle. But, action overall is limited in nature with overall newsflow fairly limited thus far in European hours and as such BTC remains well within familiar ranges.

APAC TRADE

APAC stocks were mostly subdued and failed to sustain the early momentum from last Friday’s rally on Wall St with the region cautious ahead of this week’s key risk events including US CPI and Chinese activity data, the Biden-Xi meeting on the sidelines of the APEC summit and the US government shutdown deadline.
ASX 200 was lacklustre amid weakness in the top-weighted financial sector after ANZ Bank earnings which posted a record FY cash profit but missed analysts’ forecasts and noted the external environment is likely to remain challenging.
Nikkei 225 initially gained after softer-than-expected PPI data which printed its slowest pace of annual growth since February 2021 although the index eventually reversed its gains amid rising yields and a slew of earnings.
Hang Seng and Shanghai Comp traded cautiously as optimism from Alibaba and JD.com’s higher Singles Day sales was offset by cautiousness ahead of the approaching Chinese data and Biden-Xi summit.

NOTABLE HEADLINES

Chinese NDRC officials said the state planning agency will set up six platforms to facilitate private business, as well as monitor and solve problems, while the NDRC head said China’s private economy is expected to receive more favourable policies in the future, according to Global Times.
Chinese officials met with US Treasury Secretary Yellen in the past week and raised concerns about investment restrictions, while China and the US agreed to avoid escalation of frictions.
China is considering ending the freeze on Boeing (BA) with a 737 Max deal in the US, according to Bloomberg.
US and Indonesia are to discuss the potential for a deal on electric vehicle minerals with Indonesia President Widodo to meet US President Biden at the White House on Monday, according to Reuters sources cited.
RBA’s acting Assistant Governor Kohler said the decline in inflation is to be more gradual than previously thought and bringing inflation back to the target is likely to be more drawn out. Kohler also stated that domestically sourced inflation has been widespread and slow to decline, while she noted the key risk is that high inflation today feeds into inflation expectations.
Japanese Finance Minister Suzuki says sudden FX moves are undesirable; does not comment on FX levels; will monitor markets and respond with a sense of urgency. Currency rates should be set by markets reflecting fundamentals.
PBoC will step up monitoring and analysis of systemic risks, shadow banks and financial technological innovation, via Reuters citing sources. Will handle risks of small and medium-sized financial institutions in a timely manner.

DATA RECAP

Japanese Corporate Goods Price MM (Oct) -0.4% vs Exp. 0.0% (Prev. -0.3%); YY (Oct) 0.8% vs. Exp. 0.9% (Prev. 2.0%)
October China New Yuan Loans (CNH) 738.4bln (exp. 665bln); Yuan Lending +10.9% Y/Y (exp. +10.9%); M2 Money Supply +10.3% (exp. +10.3%).

END

2 c. ASIAN AFFAIRS

MONDAY MORNING/SUNDAY NIGHT

2 d./NORTH KOREA/ SOUTH KOREA/
//

NORTH KOREA/

END

2e) JAPAN

3 CHINA

CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

FRANCE/

(GATESTONE INSTITUTE)

Anatomy Of A Paris Demo

MONDAY, NOV 13, 2023 – 02:00 AM

Authored by Amir Taheri via The Gatestone Institute,

“Paris could become a battlefield!”

This was how commentators speculated about a “solidarity with Palestine” demonstration that the police had authorized for last Saturday. The concern was not groundless.

A few days before, a Harris opinion poll had shown that 82 percent of the French feared a wave of terrorism in France and 72 percent believed that something like the 7 October attack by Hamas would happen in Paris.

“People are right to have concerns,” says Brice Hortefeux, a former Minister of the Interior.

In the past decade, France has been hit by over 400 terrorist attacks or attempts, almost all related to the Middle East or what is shorthanded as “Islamic World.” The same concern was expressed in numerous editorials, reminding people that as home to Europe’s largest Jewish community, some 500,000, and highest number of Muslims, around 7 million, France was already “part of the Middle East.”

A number of small but violent demonstrations in Paris and other cities in the aftermath of October 7, all banned by the police, raised the level of concern.

On the eve of the Saturday demo, the police announced it would field 2,000 armed personnel, backed by drones and helicopters and plainclothes agents, to deal with “any eventuality.” At the same time, the political parties and trade unions that sponsored the demo said their “security units”, some 1,000 tough guys and gals, would also be present.

As an added precaution, police refused to let the march pass by Marais, a Paris district with a substantial number of Jewish homes and businesses.

The demo was planned against a background of rising anti-Jewish acts, over 900 instances since October 7, according to the Interior Ministry. So, you can imagine that it was with some trepidation that I decided to come out of retirement as a reporter and cover the dicey demo. And then, what a surprise!

Although it looked like scores of demos I had seen in Paris since my student days in the 1960s this was a fairly small affair. According to police, some 19,000 people, a quarter of them security agents and/or reporters, participated. (As usual, organizers, including the Socialist Party, multiplied the figure by three.)

The three-kilometer distance between Place de la République and Place de la Nation did not turn into a battlefield.

At some points, the demo even looked like a city walk past shops that had closed their shutters out of fear. The Boulevard Voltaire reminded us of a short story by the Swiss philosopher in which a bug, annoyed by the tick-tock of a wall clock, jumps into it in the hope of stopping it, but is killed. As far as we could make out, a majority of marchers were young.

A few looked grim and angry but many had a bon enfant demeanor, exchanging jokes and laughing with one another. Apart from a French-Algerian lady who seemed angry enough to break a shop window, there was no sign of anyone wishing to get dramatic.

Paris demos have a template provided by activists who attend each other’s events.

These include anarchists, anti-Turkish Kurdish groups, LGBQ+, the People’s Mujahedin, “Stop-Oil” and other “green” militants, nostalgics of the Soviet Union, dyed-in-wool anti-Americans, do-gooders ready to march for any cause, and looters from the suburbs.

In Saturday’s demo, however, such veteran protesters had a low profile.

A few people carried banners of “Queers for Palestine”, “Black Lives Matter” and “Biden Accomplice in Crime.”

A band of neo-Nazis were among the 1,300 individuals that police said were prevented from joining the demo from the start.

Throughout the demo, there was little mention of Hamas. A trio of Khomeinists, who said they had come from Belgium with a portrait of Ayatollah Ali Khamenei and a Hezbollah flag, tried the slogan “Hamas shall vanquish” but were quickly silenced by hostile glances.

The fusion of Hamas and “The Palestinian cause” had caused confusion as the whole show was built around “Palestine” as leitmotiv.

The one-minute silence was for “Palestinian victims” with the main slogan: “Free Palestine!”. The slogan “Free Gaza” had an ironic ambiguity as the enclave has been ruled by Hamas for 15 year. The slogan “From the river to the sea, Palestine will be free” was chanted by a few marchers, echoing “Juden Raus!” in 1930s Germany, but didn’t quite catch on. None of the marchers we talked to expressed support for Hamas.

“We are here in solidarity with the Palestinian people,” claimed Hervé, a university student from Nanterre.

Dominique, a shop worker, claimed she came because she couldn’t see “children of Palestine dying.”

Another marcher, Leila Ghuraibi, said “Genocide must stop” but wasn’t prepared to justify the massacre of Jews by Hamas.

A poll for the daily Le Figaro shows that 37 percent of the French still have sympathy for Israel, while Palestine gets 20 percent and Hamas 5 percent.

“Hamas doesn’t represent Palestinians,” said Laurent, a restaurant worker, echoing a comment by Venezuelan President Nicolás Maduro. “Palestinians don’t behave like that.”

“Hamas has betrayed the Palestinian people,” says philosopher Michel Onfray.

However, the march was also bad news for Israel. This crowd included ordinary French citizens who could not be written off as anti-Semite weirdos.

No doubt anti-Semitic sentiments have deep roots in France, as in most Western countries. However, Israeli leaders need to ask how Israel, a victim on October 7, was cast as an oppressor two days later.

Those I talked to in the demo seemed as if they had forgotten October 7, reminding me of Isaac Bashevis Singer’s phrase “What a miser is a human memory!” For decades, with the exception of The Netherlands, France was the most pro-Israel nation in Europe and its chief source of weapons. It helped Israel build its nuclear capabilities. Whenever Israel was attacked, French intellectuals and celebrities mobilized to show support through public meetings and full-page ads in newspapers.

This time, however, the only expression of solidarity came from a few, mostly of Jewish background. There was a time when Israel was the darling of the left. Now, however, only Fabien Roussel, leader of the Communist Party, condemns the October 7 massacre. In the Saturday demo, there was no mention of the nearly 250 Israeli hostages held by Hamas. The so-called elites have adopted a one-way indignation posture against Israel.

Yet, casual talk at the bronze counter shows that Hamas has done much damage to the “Palestinian cause” while Benjamin Netanyahu’s belligerent rhetoric has diverted attention from the price Israel paid on October 7. However, in France at least, as far as we could make out, the battle for public opinion is far from settled.

end

(JERUSALEM POST)

Pro-Palestinian rally on Armistice Day: Insult to British society, threat to Jewish community

More than 300,000 people joined the pro-Palestinian rally, which turned violent and resulted in around 140 arrests.

By DANIELLE GREYMAN-KENNARDNOVEMBER 13, 2023 15:32

People demonstrate in Vauxhall during a protest in solidarity with Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in London, Britain, November 11, 2023(photo credit: REUTERS/HOLLIE ADAMS TPX IMAGES OF THE DAY)

Jewish and British leaders say that a pro-Palestinian rally that took place on Saturday during Armistice Day, later known as Remembrance Day, should be a red flag for Brits who care about their free and open society.

“Those who March against Israel are almost always opposed to many aspects of a free society, which Remembrance Sunday is about defending,” said Gary Mond, chairman of the National Jewish Assembly. “They often oppose Christianity, capitalism, freedom, and the rule of law. The Jews and Israel are simply an initial target.

“That is why fundamentalist Islamism sometimes uses the expression – first the Saturday people, then the Sunday people.”

More than 300,000 people joined the pro-Palestinian rally, which turned violent and resulted in around 140 arrests. The protestors chanted “free, free Palestine,” “ceasefire now,” and the offensive “from the river to the sea, Palestine will be free” refrain.

DEMONSTRATORS PROTEST against the lack of police action during pro-Palestine demonstrations, and condemn the increase of antisemitic hate crimes in London, last week. (photo credit: Susannah Ireland/Reuters)

The protests were partially planned by former Hamas chief Muhammad Kathem Sawalhi, the Telegraph reported.

Other planners included Convoy4Palestine and 1Vision, according to the Jewish Chronicle. These convoys were responsible for driving through the Jewish neighborhood of Golders Green in 2021 while calling for the rape of Jewish women.Advertisement

The march was both an insult to British society – Armistice Day marks the final agreement that ended World War I, in which 876,084 were killed between 1914 and 1918 – and a threat to the local Jewish community. These marches, according to retired British Army Officer Col. Richard Kemp, that are against the British government’s policy to support Israel “are also an attempt to intimidate British Jewry.”

He added that the march was an “insult to the memories of those who died fighting the kind of violent totalitarianism that the protesters support.”

UK Prime Minister Rishi Sunak had described the events as “disrespectful,” although they were allowed to go through.

Understanding Armistice Day

Armistice Day marks the final agreement that ended World War I, and a two-minute silence is held at 11 a.m. in commemoration of those who gave their lives in the service of their country during that period.

In the UK, Remembrance Sunday is also honored on the second Sunday of November as an additional day to thank and remember the service men and women for their sacrifice. The two days have become known as Remembrance Weekend. A march of 10,000 veterans bypasses the Cenotaph memorial in London, and the Royal Family attends the occasion.

During the weeks leading up to Remembrance Weekend, a paper and plastic poppy pin is fashionable to buy and wear. Many landscapes were left muddy and barren after the devastating fighting between Germany and the Allied forces. Still, the poppy flower was able to grow and flourish, according to the British Legion, which later inspired the adoption of the flower as a symbolic tribute. In 1921, the poppy was sold by Anna Guérin, which enabled her to raise £106,000 to help veterans with housing and employment. Understanding the power of the poppy to do social good, Major George Howson set up a poppy factory to employ disabled veterans.

“[For] anyone who has served or is still serving, Armistice Day and Remembrance Sunday are sacrosanct,” said Colonel Martin Newman, a former Jewish British reservist involved with several veterans organizations and charities and former chairman of the Jewish Committee for HM Forces and national chairman of AJEX. “Those are the days when we remember those who have fallen for this country and our freedom. Ironically, those who laid down their lives won the freedom to protest, and, sadly, these people [the PSC protesters] do not understand this.”

Violence has been on the rise since Oct. 7

Since the start of the Israel-Hamas war, Britain, which has stood by the Jewish state, has seen escalated violence and crime targeted towards British war memorials and those fundraising in the names of veterans.

The Rochdale Cenotaph was graffitied with “Free Palestine” multiple times and has had the poppy wreaths destroyed, according to Rochdale Borough Council. Greater Manchester Police (GMP) Rochdale confirmed that they had arrested two males concerning damage to the Cenotaph.

In addition, 78-year-old Veteran Jim Henderson reported that he had been physically assaulted at Waverley Station in Edinburgh by a pro-Palestinian activist, according to multiple media reports. Local police are still investigating the incident.

Henderson was selling poppies when he was punched and kicked, according to the BBC.

A spokesperson for Poppyscotland told the BBC, “While we respect the rights of people to protest within the law, the safety and welfare of our volunteers is of paramount importance.”

Army officer Kemp told The Jerusalem Post that the assault on Henderson was an attempt “by so-called pro-Palestinian protesters to intimidate other poppy sellers.” He also informed the Post of an incident where “wreaths were removed from one war memorial and a Palestinian flag substituted.”

National Jewish Assembly’s Mond added that he felt “the attack on the poppy seller and the vandalism of the war memorial are all part and parcel of the contempt for Britain felt by the same people who demonstrate against Israel.”

MP Lord Ian Austin mirrored the concerns of Mond and Kemp, telling the Post that “Those who attack poppy sellers or vandalize war memorials are totally at odds with British values. These actions cannot be tolerated, and I call for those responsible to feel the full force of the law.”

The violence, antisemitism and detainmemnts made visible by social media only proved what the experts forewarned, that the pro-Palestinian protests had no place on a day reserved for protecting the national memory of militarily heroism.

END

UK fires Suella Braverman for her pro Israeli stance!

(ZEROHEDGE)

Cabinet ‘Reset’: Britain’s Home Secretary Fired, David Cameron Returns To Gov’t

MONDAY, NOV 13, 2023 – 08:50 AM

British Prime Minister Rishi Sunak sacked Home Secretary Suella Braverman following a turbulent relationship, exacerbated over the weekend with her inflammatory comments about pro-Palestinian demonstrations in central London. Sunak then announced further reshuffling by appointing former minister prime David Cameron as Foreign Secretary after a seven-year leave of absence from politics.

According to The Telegraph, Braverman was not surprised to receive a call from Sunak on Monday morning, ending her 12-month tenure as Home Secretary. Sources said she had an idea the phone call was coming on Sunday after a “series of controversies over her outspoken criticism of police bias in tackling the pro-Palestinian protests and street vagrancy.”

In an op-ed in the Times of London newspaper – published ahead of a massive pro-Palestinian demonstration on Saturday, she called protesters “hate marchers” and criticized police for applying “double standards” in the way they manage protests.

“Right-wing and nationalist protestors who engage in aggression are rightly met with a stern response, yet pro-Palestinian mobs displaying almost identical behavior are largely ignored, even when clearly breaking the law. I have spoken to serving and former police officers who have noted this double standard,” Braverman wrote.

As for Palestinian marches, she added: “We have seen with our own eyes that terrorists have been valorized, Israel has been demonized as Nazis, and Jews have been threatened with further massacres.”

Even though her remarks were applauded by conservatives, liberal corporate media had a meltdown: BBC News spoke with Neil Basu, the former head of counter-terrorism policing in the UK, who said her comments “are potentially divisive is a very dangerous thing to do… no home secretary we’ve served under would have done the same thing.”

Sunak’s sweeping cabinet reshuffle followed Cameron’s appointment as Britain’s foreign secretary. He served as prime minister from 2010-16 and triggered the Brexit referendum 2016, where he voted to stay in the bloc.

Cameron is also viewed as pro-China, trying to set up a $1 billion investment between the two countries. He’s also seen as a ‘Davos’ man…

In a statement this morning, he said, “We are facing a daunting set of international challenges, including the war in Ukraine and the crisis in the Middle East. At this time of profound global change, it has rarely been more important for this country to stand by our allies, strengthen our partnerships and make sure our voice is heard.”

He noted, “Britain is a truly international country. Our people live all over the world and our businesses trade in every corner of the globe. Working to help ensure stability and security on the global stage is both essential and squarely in our national interest. International security is vital for our domestic security.”

And being a Davos man/pro-China, this might be indicative that Cameron has limited to no intentions to support Israel.

Meanwhile, The Times of Isreal reported over the weekend that Israel was pushing former British prime minister Tony Blair as humanitarian coordinator for the Gaza Strip.

“A few weeks ago, Rishi Sunak said David Cameron was part of a failed status quo, now he’s bringing him back as his life raft,” said Pat McFadden, Labour’s campaign chief.

McFadden continued, “This puts to bed the prime minister’s laughable claim to offer change from 13 years of Tory failure.”

end

Israel mustn’t stop war on terrorists who cut off heads – British DS

The UK Defense Secretary compared the IDF aerial bombings of Gaza with the British and American bombing of the German city of Dresden during World War II.

By TOVAH LAZAROFFNOVEMBER 12, 2023 19:11Updated: NOVEMBER 13, 2023 00:00

Israeli soldiers operate inside the Gaza Strip, amid the ongoing ground operation of the Israeli army against Hamas, November 11, 2023 (photo credit: IDF/Handout via REUTERS) — Israeli soldiers operate inside the Gaza Strip, amid the ongoing ground operation of the Israeli army against Hamas, November 11, 2023(photo credit: IDF/Handout via REUTERS)

https://trinitymedia.ai/player/trinity-player.php?pageURL=https%3A%2F%2Fwww.jpost.com%2Finternational%2Farticle-772916&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&version=20231109_479f765b395969908e1a1afffc34eabceb3143ee&useBunnyCDN=0&themeId=140

Great Britain would not be told to halt its war on a terror group that attacked its sovereign territory and cut off the heads of its citizens, UK Defense Secretary Grant Shapps told the BBC on Sunday.

“If Britain had been subject to an attack of terrorists coming and murdering [1,200] people and cutting off heads, and we knew where those terrorists had gone, no one would say to Britain stop going after them,” Shapps said.

He issued a strong statement of support for Israel at a time when the international community, including many in Europe, is pressing it for an immediate ceasefire in light of the growing death toll from its military campaign, now in its second month.

Hamas has asserted that over 11,000 Palestinians have been killed in Gaza-related violence since its October 7 attack on Israel. In that attack, Hamas killed over 1,200 people and seized more than 239 hostages.

French President Emmanuel Macron made waves on Friday when he told the same network that Israel has no justification for such a high death toll in the Gaza war.

A view shows a destroyed home riddled with bullets, following the deadly October 7 attack by Hamas gunmen from the Gaza Strip, in Kibbutz Kfar Aza, southern Israel November 2, 2023. (credit: EVELYN HOCKSTEIN/REUTERS)

Calls for a ceasefire

“De facto today [Palestinian] civilians are bombed. De facto, babies, ladies, old people are bombed and killed. There is no reason for that and no legitimacy, so we do urge Israel to stop,” Macron stated as he called for a ceasefire.

Neither Macron or Schapps answers direct questions as to whether Israel’s actions fell within the bounds of international law, stating only that Israel must abide by that law.Advertisement

Shapps, however, said that it was important to note that Israel was taking steps to prevent civilian deaths and that its actions must be placed within the larger context of how nations act in wartime.

He compared the IDF aerial bombings of Gaza with the British and American bombing of the German city of Dresden during World War II.

“We have sort of forgotten that in war, very sadly people lose their lives. When Britain bombed Dresden 35,000 people lost their lives,” Shapps said.

“When you have an organization like Hamas hiding and shielding itself with and under the civilian population [in Gaza] it’s a sad fact that some people will lose their lives.”

He noted that Israel was pursuing terrorists within the tunnels they were operating in and in which thousands of rockets were stored.

“How can we ask Israel not to go and destroy those bunkers,” Shapps asked.

“The answer is for Hamas to stop using those people [Palestinian civilians] as human shields and [it should] release the over 200 hostages” it seized on October 7.

“By the way some of them [the hostages] are Brits,” Shapps said.

In this war, Great Britain “should absolutely be on the side of right, and right is going after Hamas,” he stressed.

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/HEZBOLLAH/SATURDAY

IDF kills Hamas commander who held Gazans hostage at Al Rantisi Hospital

Ahmed Siam was killed while hiding in a school.

By JERUSALEM POST STAFFNOVEMBER 11, 2023 12:21Updated: NOVEMBER 11, 2023 13:13

IDF aircraft struck Ahmed Siam, a company commander of the Naser Radwan Company of the Hamas terrorist organization(photo credit: IDF SPOKESMAN’S UNIT)

The IDF eliminated Ahmed Siam, a company commander of Hamas’s Naser Radwan Company, the terrorist responsible for holding approximately 1,000 Gazan residents hostage in Gaza’s Rantisi Hospital preventing them from evacuating south to safety, the IDF said on Saturday.

The assassination succeeded with the efforts of both the IDF and the Shin Bet (Israel Security Agency). Ground and air troops participated in the operation.

Siam was struck while hiding in a school

IDF aircraft struck Siam two days ago, the IDF spokesperson said. He was killed while hiding in the “al Buraq” school, where additional terrorists under this command were also hiding and were killed.

“Siam demonstrates once again that Hamas uses the civilians of the Gaza Strip as human shields for terror purposes,” the IDF said.

Since the Swords of Iron war started on October 7, the IDF has killed numerous terrorists involved in the massacre and other leaders.

end

SATURAY…

Terrorist organizations in Gaza responsible for hitting Al-Shifa Hospital – IDF spokesman

Verified social media shows dead and wounded at Gaza’s Shifa hospital

By REUTERS, JERUSALEM POST STAFFNOVEMBER 10, 2023 12:14Updated: NOVEMBER 11, 2023 06:08

Palestinians check the damages after a convoy of ambulances was hit, at the entrance of Shifa hospital in Gaza City, November 3, 2023.(photo credit: REUTERS/MOHAMMED AL-MASRI)

Avichay Adraee, the IDF spokesman in Arabic, said on Friday that the rocket that hit Al Shifa Hospital in the Gaza Strip was caused by “a failed launch by the terrorist organizations that tried to fire at Israel,” according to a post on his X account.

“According to IDF systems, rocket-propelled grenades hit the hospital,” he wrote.

In another tweet, he wrote “according to the information available to the IDF, the terrorist organizations in the Gaza Strip are responsible for launching the failed missile that hit the hospital.”

His tweet came shortly after a graphic video shared on social media and verified by Reuters on Friday showed a number of dead and wounded, including children in an area of Al Shifa hospital in Gaza, which a Gaza health ministry spokesman said had been hit by Israeli defensive airstrikes.

A Reuters correspondent said the video appeared to have been made in a covered, outdoor area near the hospital’s outpatient department, where displaced people had been sleeping.

Reuters was able to confirm the location from one of the children seen in the video, a girl wearing dark trousers and a purple t-shirt, who is also seen in other footage at the entrance of the hospital.Advertisement

A premature Palestinian baby lies in an incubator at the maternity ward of Shifa Hospital, which according to health officials is about to shut down as it runs out of fuel and power, as the conflict between Israel and the terrorist Hamas continues, in Gaza City October 22, 2023. (credit: REUTERS/MOHAMMED AL-MASRI)

The appearance of the hospital entrance also matched file imagery and the source has uploaded several videos from the hospital previously and was known to be there.

WHO: Gaza’s Al Shifa hospital ‘coming under bombardment’

A World Health Organization spokesperson said on Friday that the Al Shifa hospital had been “coming under bombardment,” adding that 20 hospitals in Gaza were now out of action entirely.

Asked about the Gaza health ministry’s allegation of an Israeli strike on the hospital courtyard, WHO spokesperson Margaret Harris said: “I haven’t got the detail on Al Shifa but we do know they are coming under bombardment”. Asked to elaborate, she said there was “intense violence” at the site, quoting colleagues on the ground. She did not specify who was perpetuating the violence.

Foreign reports claim that as the IDF evacuates two Gaza Strip hospitals, allowing hospital administrators to bring patients through the humanitarian corridor Friday. Hamas has, in contrast, prevented hospital workers from evacuating Shifa Hospital, according to Israeli media.

Last month, the IDF revealed detailed information showing that Hamas was running a command and control center under Al Shifa.

end

SUNDAY…

(JURASELM POST)

Gaza missile slams into Shifa hospital, IDF dismantles Hamas outpost

1,200 Israelis murdered since October 7, including 356 soldiers • 239 held hostage by Hamas, four hostages released, one rescued

By JERUSALEM POST STAFF

IDF killed terrorists and struck terror infrastructure and weapons belonging to Hamas’s Zabra Tel Elhua Battalion in Gaza.(photo credit: IDF SPOKESPERSON UNIT)

end

HEZBOLLAH/SYRIA/ISRAEL//SATURDAY MORNING

Seven Hezbollah Fighters Killed In Syria After Expanded Israeli Airstrikes On ‘Iran Axis’

FRIDAY, NOV 10, 2023 – 10:00 PM

Lebanon’s Hezbollah has issued a rare announcement Friday, saying that seven of its fighters have been killed, describing that they were “martyred on the road to Jerusalem” – which is code for fighting Israel.

But it’s being widely reported that at least some of the slain Hezbollah members were killed inside Syria, after a new Friday Israeli airstrike on central Homs. In total on Friday, Hezbollah released seven death notices.Hezbollah funeral procession on Monday, after a fighters was killed on the southern border, via AP.

Hezbollah as well as international sources have cited a death toll of at least 68 Hezbollah fighters since the Oct.7 conflict began, centered on southern Israel and Gaza.

“A Hezbollah official and a Lebanese security official said the seven fighters were killed in neighboring Syria this morning,” international press agencies and regional reports indicated. “They spoke on condition of anonymity in line with regulations.”

Israel’s attacks on Syria, where Hezbollah has long been operating in coordination with the Assad government, have grown to almost daily of late. This presents the prospect that the war could go regional, given these assaults are ultimately aimed at the ‘Iran axis’.

On Wednesday, there were reports that three ‘pro-Iran’ fighters had been killed in Israeli airstrikes on the outskirts of Damascus. And Bloomberg on Friday says that cross-border fire in southern Lebanon has persisted:

Iran-backed Hezbollah said it launched missiles at Israeli soldiers, the militant group’s Al-Manar TV reported. Israel Defense Forces said that a group launched a number of anti-tank missiles from Lebanon toward an army post in northern Israel. The Israeli army said it responded and struck the source of fire.

There also appears to be a concerted effort to degrade and destroy Israel’s string of observation and communications posts along the border…

While most analysts have underscored that a full ‘war front’ has yet to be opened by Hezbollah, the fact of 60+ Hezbollah deaths does mean that significant fighting is taking place.

Hezbollah leader Hassan Nasrallah in a recent speech said part of the purpose of operations was to divert up to one-third of Israel’s military hardware and personnel to the north, in order to divert these way from Gaza operations.

end

SATURDAY

HAMAS LOSES CONTROL OF NORTHER GAZA

Netanyahu: ‘Hamas lost control of northern Gaza, PA can’t run the Strip’

Prime Minister Benjamin Netanyahu ruled out the possibility of the Palestinian Authority controlling Gaza. * Finance Minister Bezalel Smotrich called to freeze the PA’s funds.

By GADI ZAIGNOVEMBER 11, 2023 22:42

Prime Minister Benjamin Netanyahu speaking at a press conference in Tel Aviv on the current Israel-Hamas war November 11, 2023.(photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)

Prime Minister Benjamin Netanyahu said on Saturday evening at a press conference in Tel Aviv that the Hamas terrorist group has lost all control of the northern Gaza Strip.

“First of all, I would like to hug the families of the martyrs to whom more martyrs were added yesterday – the heroes of Israel. Our hearts are with the families,” the prime minister said. “I say here to all the families of our loved ones who fell in the difficult war – we are doing everything to be worthy of their sacrifice and heroism. We will not stop until the mission is completed.”

“There is no substitute for victory. We will eliminate Hamas and save our hostages,” Netanyahu added. “The IDF has completed the encirclement of Gaza City. They are on the outskirts of Shifa Hospital and have killed a lot of terrorists.

“Hamas has lost control in the north of the Gaza Strip,” he continued. “They have no safe place to hide. Until the last of the terrorists, all of Hamas, are dead.”National Unity Party Leader Benny Gantz speaking at a press conference in Tel Aviv on the current Israel-Hamas war November 11, 2023. (credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)

Netanyahu was also joined by Defense Minister Yoav Gallant and National Unity Party leader Benny Gantz.

Addressing the war in Israel’s north, the prime minister said “We are also prepared on the northern front, we are operating there under fire from the air and ground. I warned Hezbollah, do not make the mistake of entering the war, your entry into the war will undermine the fate of Lebanon. We are also fighting on other fronts, Every day we act against terrorism in the Red Sea, in Syria, and in any area that is required.”

No possibility of the PA controlling Gaza

Netanyahu also ruled out the possibility of the Palestinian Authority (PA) controlling Gaza, saying “There will not be a civil authority there that educates their children to hate Israel, to kill Israelis, or to eliminate Israel. There cannot be an authority there that pays the families of murderers. There cannot be an authority who didn’t condemn the massacre. There will have to be something else, but in any case our security control. I stand by it and don’t intend to give up.”

end

SUNDAY

Hamas planned to push October 7 massacre to the West Bank border – report

Under Hamas’s original plan, it would have hit many other major Israeli cities and IDF bases and go as far as the West Bank, where it has allies in the form of local terrorist cells.

By JERUSALEM POST STAFFNOVEMBER 12, 2023 21:15

Firefighters work to put out a fire in an open field, following a mass-infiltration by Hamas gunmen from the Gaza Strip, near a hospital in Ashkelon, southern Israel October 7, 2023.(photo credit: AMIR COHEN/REUTERS)

Hamas’s original plan for October 7 went beyond just a massacre in the Gaza border area and taking hundreds of hostages, but to continue their assault up to the border with the West Bank, The Washington Post reported Sunday, citing Western and Middle Eastern security officials briefed on collected evidence.

This information was obtained from numerous maps, notes, supplies, and other written instructions found among the bodies of dead Hamas terrorists in the Gaza border area, as well as from interrogations of Hamas captives.

“We know from interrogations that Hamas came in with detailed plans of their attack, including which commander should rape which soldiers in different places,” Defense Minister Yoav Gallant explained to The Washington Post.

Hamas planned to go much farther into Israel on October 7

On October 7, Hamas terrorists executed a meticulously planned mass infiltration of Israel, under the cover of a heavy rocket bombardment. There, they managed to wreak havoc on at least 22 Israeli towns and military outposts near the Gaza border throughout the day, killing around 1,200 Israelis and abducting hundreds of people to bring back to Gaza as hostages.

The farthest the Hamas terrorists were able to infiltrate was the city of Ofakim in the Western Negev, around halfway between Gaza and the West Bank. Children's toys and personal items lie on the bloodstained floor of a child's bedroom, following a deadly infiltration by Hamas gunmen from the Gaza Strip, in Kibbutz Beeri in southern Israel October 17, 2023. (credit: RONEN ZVULUN/REUTERS) Children’s toys and personal items lie on the bloodstained floor of a child’s bedroom, following a deadly infiltration by Hamas gunmen from the Gaza Strip, in Kibbutz Beeri in southern Israel October 17, 2023. (credit: RONEN ZVULUN/REUTERS)

However, according to the Washington Post article, the evidence suggests they were planning on going much farther, hitting major cities and military bases, and could have ended up making it to the West Bank, where Hamas has allies in the form of many local armed Palestinian terrorist cells.

“If that had occurred, it would have been a huge propaganda win — a symbolic blow not only against Israel but also against the Palestinian Authority,” a former US security official told The Washington Post under the condition of anonymity. Advertisement

This also comes as Israel’s attention shifted away from Gaza and Hamas – particularly after the last round of fighting in 2021, Operation Guardians of the Wall – towards the West Bank, which had been seeing a dramatic upsurge in violence and terrorism.

This, however, may have allowed Hamas to discreetly and methodically plot its plan over time, training terrorists and gathering intelligence in the utmost secrecy.

“They were conning Israel on a strategic level, using handheld radios, land-wire networks in the tunnels and other comms that we couldn’t listen to, while using codes on the so-called open networks, which they knew we were listening to,” former Israeli National Security Council deputy head Eran Etzion said, according to The Washington Post. “They were creating an alternative reality.”

The report further said that this would have come at a high cost, with Hamas knowing the level of Israel’s response.

“They were very clear-eyed as to what would happen to Gaza on the day after,” a senior Israeli military official told the outlet. “They wanted to buy their place in history — a place in the history of jihad — at the expense of the lives of many people in Gaza.”

However, while Hamas may have expected this level of Israeli response, the involvement of the US may have come as a surprise.

“An Israeli response? Yes, we expected that,” senior Hamas political leadership member Ali Barakeh told The Financial Times in late October. “But what we’re seeing now is the entrance of the US into the battle, and this we didn’t count on.”

Washington diverted many of its forces to the area amid Israel’s launching of Operation Swords of Iron, the latest war with Hamas.

Just a day after Hamas’s massacre, the US sent a carrier strike group, featuring the world’s largest aircraft carrier, the USS Gerald R. Ford, closer to Israel. Later in the month, the US sent Lt.-Gen. James Glynn, a three-star Marine general, and other military officers helped Israel plan its ground offensive into the Gaza Strip.

At the time of writing, Israeli troops have managed to make heavy gains in the northern Gaza Strip, claiming that Hamas has lost control of the area and has encircled Gaza City.

Efforts to free the remaining hostages and eliminate Hamas remain ongoing.

end

MONDAY

(JERUSALEM POST)

Israel strikes over 4,300 terror targets as Gaza operation rages

IDF in Gaza: Weapons found in children’s bedroom, university • Israeli military strikes over 300 tunnel shafts, thousands of Hamas headquarters

By JERUSALEM POST STAFFNOVEMBER 13, 2023 08:08Updated: NOVEMBER 13, 2023 12:08

IDF carries out targeted attacks to destroy tunnels underneath the Gaza Strip. Footage released November 13, 2023 (CREDIT: IDF SPOKESPERSON’S UNIT).

The IDF continued its offensive into the Gaza Strip on Monday, striking over 4,300 terrorist targets including some 300 tunnel shafts since it began its counter-invasion of the Strip.

As per the Israeli military, hundreds of Hamas anti-tank launchers were destroyed during operations, as well as close to 3,000 terror infrastructure which includes hundreds of boobytrapped weapon storage facilities, operational headquarters, and control-and-command centers across Gaza.

The IDF shared footage of soldiers operating in the Strip on Monday morning.

IDF in Gaza: Weapons found in children’s bedroom, university

Israeli forces uncovered a weapons cache hidden in a child’s bedroom in the home of a senior Palestinian Islamic Jihad official in Gaza, the IDF said on Monday morning.

The hidden arsenal was discovered in a raid carried out by reservists from the IDF’s 551st Brigade, which lost four of its fighters during fighting in Gaza. The brigade also located a tunnel shaft in a civilian area of Beit Hanun, which contained various weaponry and intelligence gathered by Gazan terrorist groups.Israeli forces are seen during Operation Swords of Iron in the Gaza Strip, November 13, 2023 (credit: IDF SPOKESPERSON’S UNIT)

Elsewhere in the Strip, forces from the IDF’s 401st Brigade uncovered Hamas terror infrastructure inside civilian centers in the al-Shati camp in northern Gaza, including inside the Abu Bakr Al Sidiq Mosque and the al-Quds University in the camp.

The forces found and confiscated dozens of weaponry and other combat equipment. In addition, Hamas intelligence including operative plans were seized.

END

(zerohedge)

Palestinians ‘Disappointed’ Hezbollah Hasn’t Escalated A Northern War On Israel

SUNDAY, NOV 12, 2023 – 03:45 PM

On Saturday Hezbollah leader Hassan Nasrallah gave his second speech since the Gaza War began, and there was little new that signaled he’s ready to escalate; instead, it was mostly a reiteration of ‘red lines’ and more threats of possible future action.

He did emphasize that the war against Israel will be long and that “victory” would “take years” to achieve, after Hezbollah has already lost at least 63 of its fighters. He did pledge that “This front will remain active,” in reference to southern Lebanon.

In response, Israeli Defense Minister Yoav Gallant told his troops who are deployed to the northern border, “Hezbollah is dragging Lebanon into a war that might happen.” The two sides have exchanged daily rocket and mortar fire, but there’s yet to be the kind of all-out battle that many have been fearing.

“It is making mistakes and … those who will pay the price are first and foremost Lebanon’s citizens. What we are doing in Gaza we can do in Beirut,” Gallant said additionally.

But many Palestinians were hoping that Nasrallah would have declared war by now, and they are said to be “disappointed” this hasn’t happened. This is true also of Palestinians in refugee camps in Lebanon, some of which were interviewed by Al Jazeera:

His message fell short for many Palestinians in Sabra and Shatila, a Palestinian refugee camp that sprawls out across two Beirut neighborhoods.

“I wanted him to open up the war completely,” said Abdallah, 25, one of the Palestinians who gathered anxiously at a sidewalk cafe in Sabra and Shatila to watch the speech.

And others echoed the same:

“Hezbollah is fighting and they’re trying, but we want them to make more happen,” said Abdallah.

Some Palestinians in Lebanon believe that Hezbollah should take the fight to Israel first.

But feelings are much more mixed among Lebanese themselves, who remember much of the country being bombed in 2006, including Beirut’s international airport. But unlike the situation in 2006, Lebanon’s economy is currently in tailspin, amid other worsening societal woes.

There are fears that a full Hezbollah assault would drag the entire country into war with Israel, and it remains that the Lebanese Army doesn’t have much of an air force or proper anti-air defenses to speak of if Israel chooses to bomb the whole country “back to the stone age” – as Israeli leaders past and present have frequently vowed.

So far both Hezbollah and the IDF have exercised some degree of restraint in order to keep the exchanges of fire “limited” – despite casualties on either side the border. The IDF has meanwhile been forced to divert a significant amount of troops, tanks and other armor to the north in order to deal with the Hezbollah threat.

end

MONDAY AFTERNOON: LOOKS LIKE HAMAS IS LOSING CONTROL OF ALL GAZA// SOME HAMAS TERRORISTS FLEEING SOUTH

Gallant: Hamas has lost control of Gaza, terrorists fleeing south

After completing a situational assessment in which he emphasized the progress of IDF soldiers in fighting in Gaza.

By JERUSALEM POST STAFFNOVEMBER 13, 2023 20:08Updated: NOVEMBER 13, 2023 20:52

Defense Minister Yoav Gallant is seen speaking on October 26, 2023.(photo credit: AVSHALOM SASSONI/FLASH90)

“Hamas has lost control of Gaza – terrorists are fleeing south, civilians are looting Hamas bases,” Defense Minister Yoav Gallant stated on Monday.

After completing a situational assessment in which he emphasized the progress of IDF soldiers in fighting in Gaza.

“The IDF forces work according to a plan and carry out the missions with precision, lethality and in coordination between the air, sea and land forces, using precise intelligence,” the defense minister said.

“There is no power that Hamas has capable of stopping the IDF. The IDF is advancing to every point. Hamas has lost control of Gaza, terrorists are fleeing south, civilians are looting Hamas bases, they have no confidence in the government.”

IDF breaks Hamas’s effectiveness

IDF attacks have broken the effectiveness of 10 out of 24 Hamas battalions, says the military.

For the first time since the start of the war, the IDF on Monday provided its official estimates of the size and make-up of what Hamas’s forces were on the eve of the war which started on October 7.In addition, the IDF gave its estimate of the impact it has had on Hamas’s forces through around five weeks of air strikes and two-and-a-half weeks of a ground invasion.According to the IDF, Hamas started the war with 30,000 men who were split into five regional brigades, which themselves split into 24 battalions, which themselves split into 140 companies. Each battalion had around 1,000 plus men.

Troops from the IDF’s 188th Brigade eliminated a terrorist squad operating in the area of the Al-Quds hospital in Gaza City, an IDF statement said on Monday, after an anti-tank missile was shot at IDF soldiers, damaging an Israeli tank.

Several terrorists hidden among civilians fired two RPG launchers at IDF soldiers in front of the hospital, the statement said. The combat brigade, which included armor, engineering, and infantry forces, responded with live fire and shelling, with air support. About 21 terrorists were killed, the IDF said, with no Israeli casualties.

END

(ZERO HEDGE ON THE ABOVE STORY)

Israel Declares Hamas Has ‘Lost Control Of Gaza’ As Biden Urges ‘Less Intrusive’ Action At Hospital

MONDAY, NOV 13, 2023 – 03:45 PM

On Monday Defense Minister Yoav Gallant issued a formal announcement declaring that Hamas has lost control of the Gaza Strip, at a moment the Israel Defense Forces (IDF) are still fighting to fully capture Gaza City, involving continued fierce fighting in the vicinity of the besieged al-Shifa Hospital.

“There is no force of Hamas capable of stopping the IDF. The IDF is advancing to every point. The Hamas organization has lost control of Gaza. Terrorists are fleeing south,” Gallant said.

“Civilians are looting Hamas bases. They have no confidence in the government,” continued Gallant, based on his current assessment of the fighting. He further described that the IDF is advancing “according to plans and carry out the tasks accurately, lethally.”

“We work according to tasks. We don’t have a stopwatch. We have goals. We will achieve our goals,” he emphasized. Israeli media has said Gallant’s remark on achieving “goals” is a reference to Foreign Minister Eli Cohen’s prior suggestions that international pressure could force Israel to alter its actions in Gaza. Gallant said that “intensified” operations against Hamas’ sprawling networks of tunnels have ratcheted in recent days.

This new declaration appears to be backed by a now widely circulating photo issued by the Israeli military, showing IDF troops posing with flags inside the small parliament building run by Hamas. According to a description by the Times of Israel:

An image circulating on social media shows troops of the IDF’s Golani Brigade inside Gaza’s parliament building in Gaza City, after capturing the site.

The Palestinian Legislative Council building in Gaza has only served Hamas’s lawmakers since the terror group’s takeover of the Strip in 2007.

The military further says it is ready to bring a security action plan to the north, as masses of Palestinian civilians continue to flee toward safety in the south.

IDF Chief of Staff Lt. Gen. Herzi Halevi has simultaneously announced, “We are preparing strongly with action plans for the north. Our mission is to bring security. The security situation will not remain such that the residents of the north do not feel safe to return to their homes.”

Hamas missiles launched deep into central Israel have struck Tel Aviv on Monday:

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Lately, Washington has clashed with the Netanyahu government after the Israeli prime minister said that the IDF will assume control of Gaza security for an indefinite time period. The White House has appeared to reject plans for a permanent Israeli occupation, instead floating the possibility of a multi-national peacekeeping force for the ‘day after’ Hamas. It remains that a lengthy period of fighting the Hamas insurgency will likely ensue.

Thousands of civilians and patients are still trapped inside al-Shifa hospital, while the other largest, al-Quds, has also closed. Both have run out of fuel with Palestinian doctors reporting mass deaths and intensive care patients dying.

The death toll in Gaza has as of Monday surpassed 11,200 – a horrifying figure based on Palestinian and regional sources. The United Nations and World Health Organization (WHO) have issued a statement decrying the deaths of children at the besieged hospital.

The IDF on Monday released video purporting to show armed Hamas members on al-Quds Hospital grounds…

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Palestinian health authorities promptly rejected the IDF claims and video as a “false assertion” with the aim of justifying that the civilian hospitals can be deemed military targets.

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“The UN’s health agency WHO said on Sunday night that according to the Gaza health authorities, 37 premature babies at the hospital were relocated over the weekend to an operating room without their incubators, with health workers trying to heat the room,” the statement said. “According to the latest media reports on Monday, six babies at Al-Shifa have died.”

Meanwhile, President Biden has issued a very lukewarm and ambiguous statement in response to the crisis. Per the Associated Press, Biden stated that the Gaza hospital encircled by Israeli forces “must be protected,” and is calling for “less intrusive action” against Hamas.

END

MONDAY AFTERNOON

IDF soldiers share photo in conquered Hamas parliament

In the moving picture, the team of fighters can be seen proudly waving Israeli flags in the terrorist organization’s legislative council building

By JERUSALEM POST STAFFNOVEMBER 13, 2023 20:08Updated: NOVEMBER 13, 2023 21:06

Golani soldiers inside the Hamas parliament building in Gaza, November 13, 2023 (photo credit: SCREENSHOT ACCORDING TO 27A OF COPYRIGHT ACT) — Golani soldiers inside the Hamas parliament building in Gaza, November 13, 2023(photo credit: SCREENSHOT ACCORDING TO 27A OF COPYRIGHT ACT)

IDF soldiers of the Golani Brigade shared a historic photo on Monday showing the Israeli flag inside the Hamas parliament building in Gaza.In the moving picture, the team of fighters can be seen proudly waving Israeli flags in the terrorist organization’s legislative council building”Hamas has lost control of Gaza – terrorists are fleeing south, civilians are looting Hamas bases,” Defense Minister Yoav Gallant stated on Monday.

After completing a situational assessment in which he emphasized the progress of IDF soldiers in fighting in Gaza.

END

An excellent commentary on the Middle east conflict from chris Powell

(Chris Powell)

Better places than Gaza for humanitarian service

Posted bycxpowell November 13, 2023Posted inUncategorized

By Chris Powell

A Bridgeport Hospital nurse, Emily Callahan, last week told a gripping story to the Connecticut Hearst newspapers upon her return from Gaza, where she had been volunteering with Doctors Without Borders when the Hamas-ruled territory invaded Israel and reveled in the slaughter and abduction of civilians, prompting devastating retaliation.

Callahan and her colleagues are courageous and meant to do right in Gaza. But did they?

It’s not as if they were remediating some natural disaster. They were providing their services in a theocratic fascist country that long had sworn to destroy its neighbor and indeed had been waging such war off and on. Would there have been any difference if Callahan’s group had gone to Russia to care for people injured in its invasion of Ukraine? Many places deserve relief from suffering more than Gaza, whose suffering results entirely from its genocidal insistence on killing Jews.

In an essay reprinted last week in the Hartford Courant, Bloomberg News columnist Bobby Ghosh argued that Gazans are not responsible for the crimes of their Hamas government, cannot overthrow it, and should not suffer the “collective punishment” of war.

But in their first and only election in 2006 Gazans put Hamas into power, whereupon Hamas ended elections. Gazans cheered last month as their soldiers returned from Israel with hostages. While of course Hamas’ totalitarianism makes overthrowing it difficult, history is full of successful revolutionary wars. Ghosh seems not to have noticed the American one.

Yes, overthrowing a totalitarian regime requires people to risk their lives. But people governed by a totalitarian regime must take that risk if they seriously object to it. Gazans have not objected.

Indeed, all people are responsible for their government to some extent, Americans included, though they often fail to notice grave offenses committed in their name. Their country’s nuclear arsenal protects them against accountability.

Nobody today says that the German people were not responsible for the Nazi regime whose genocidal war killed millions in Europe, nor that the Japanese people were not responsible for their imperial regime’s genocidal war that killed millions more in Asia. When their wars were going well Hitler and Hirohito enjoyed fanatical loyalty from their people.

During those wars no one in the West — not even people who thought themselves enlightened — proposed establishing “humanitarian corridors” for the evacuation of enemy civilians and sending them “humanitarian supplies.” Back then even enlightened people understood that such “humanitarianism” would sustain the totalitarian regimes and their warmaking power, if only by relieving the regimes of the expense of caring for their own people and reducing the incentive of the people to overthrow their genocidal governments.

Since the totalitarian powers were genocidal, their adversaries were willing to level cities where war materiel was manufactured and materiel and troops were marshaled. Civilian casualties were accepted as unavoidable. So eventually Hamburg, Berlin, Dresden, Tokyo, Hiroshima, Nagasaki, and dozens of other cities went up in firestorms to hasten the end of the war.

This tactic soon found vindication. The German armaments minister, Albert Speer, said under interrogation that if the firebombing of Hamburg in 1943 had been quickly followed by similar attacks on six other cities, Germany would have been knocked out of the war. Announcing Japan’s surrender, Hirohito attributed it to the atomic bombings of Hiroshima and Nagasaki.

Pledging to “make Georgia howl” in 1864, Union Gen. William Tecumseh Sherman led an army that cut a swath of ruin from Atlanta to Savannah, thereby breaking the back of the Confederacy, enabling Lincoln’s re-election, and demolishing slavery. “War is cruelty and you cannot refine it,” Sherman said. “The crueler it is, the sooner it will be over.”

News reports from Gaza last week hinted that Sherman was right. Outraged by the destruction of their homes and shortages of food, water, and medicine, angry Gazans were said to have started engaging in “rare acts of defiance” against Hamas. With enough destruction maybe someday they will install a government demanding peace.

Until then Gaza will remain a genocidal regime’s weapons factory and marshaling yard, and so far, by history’s standards, it has gotten off easy.

Chris Powell has written about Connecticut government and politics for many years. (CPowell@cox.net)

-END-

AL SHIFA HOSPITAL NOW/MONDAY

Different narratives emerge with respect to Shifa’s mounting deaths

(zerohedge)

Drastically Different Narratives Emerge Centered On Shifa Hospital’s Mounting Deaths

SUNDAY, NOV 12, 2023 – 07:15 PM

This weekend has seen the most intense fighting in Gaza City which has centered on al-Shifa hospital and its vicinity, which is the Strip’s largest, which has for days been totally surrounded by Israeli forces, and lacking food and water.

The hospital is “totally surrounded and bombardments are going on nearby,” its director, Mohammad Abu Salmiya, announced in a late Saturday statement. Israel has claimed that Hamas uses bunkers beneath the hospital as a command center. However, al-Shifa’s head of surgery, Dr Marwan Abusada, has told regional news sources that civilians are trapped and patients are dying.Patients & internally displaced people at Al-Shifa hospital, via APF

“Shooting and bombardment are everywhere you hear it at every second around the al-Shifa Hospital. No one can get out. No one can come in. People who tried evacuate the hospital, they were shot at in the streets. Some got killed, some injured,” he described of the desperate situation. Some Israeli officials and media have alleged that it is in fact Hamas snipers doing the shooting, though without evidence.

Palestinian Minister of Health Mai al-Kaila has at the same time said Israel’s military “are not evacuating people from hospitals; instead they are forcibly evicting the wounded onto the streets, leaving them to face inevitable death.”

This was in response to the IDF announcing it would help facilitate the safe passage of babies and other wounded from the hospital. But the IDF has asserted repeatedly it is Hamas that is using civilians at the hospital as ‘human shields’ and that Hamas also hijacked inbound fuel which was meant for hospital generators.

The Wall Street Journal on Sunday also quoted doctors who presented a scenario of mass suffering and death unfolding:

Doctors described an increasingly desperate situation at hospitals in northern Gaza, including the biggest one, Al-Shifa Hospital, where they said dozens of dead bodies have been left in the open and decomposing and nearly 40 prematurely born babies are without the incubators they need.

“If we do not stop this bloodshed immediately with a ceasefire or at the bare minimum a medical evacuation of patients these hospitals will become a morgue,” Doctors Without Borders, the international healthcare charity, said Sunday.

Competing and contrasting narratives have emerged concerning who is to blame for deaths at Shifa hospital…

Israel’s Foreign Ministry has said the compounding misery is being orchestrated by Hamas…

Meanwhile, also on Sunday fighting along the Israeli-Lebanon border is worsening following the latest wave of Hezbollah rockets, some of which reportedly scored direct hits, leaving significant casualties.

“At least six civilians were wounded, one critically, in an anti-tank guided missile attack by the Hezbollah terror group from Lebanon on Sunday, the military and medics said,” the Times of Israel reports.

Hezbollah has been facing pressure from both its supporters in the region and Palestinian armed factions to ‘do more’ and escalate its attacks on northern Israel.

However, many of the IDF soldiers were reported as only “lightly wounded” and were evaluated at a local hospital. There are reports that Israel’s military is preparing more devastating retaliatory attacks on southern Lebanon.

END

IDF attacks have broken the effectiveness of 10 out of 24 battalions. Each battalion had about 1,000 HAMAS men at the start of the war.

(JERUSALEM POST)

IDF attacks have broken effectiveness of 10 of 24 Hamas battalions

Military gives 1st official estimate of Hamas’s total forces since start of war.

By YONAH JEREMY BOBNOVEMBER 13, 2023 17:58

Israeli soldiers make their way towards Israel’s border with Gaza, amid the ongoing ground invasion against Hamas, in southern Israel, November 8, 2023(photo credit: RONEN ZVULUN/REUTERS)

IDF attacks have broken the effectiveness of 10 out of 24 Hamas battalions, says the military.

In addition, the IDF gave its estimate of the impact it has had on Hamas’s forces through around five weeks of air strikes and two-and-a-half weeks of a ground invasion.

According to the IDF, Hamas started the war with 30,000 men who were split into five regional brigades, which themselves split into 24 battalions, which themselves split into 140 companies. Each battalion had around 1,000 plus men.

Prior unofficial estimates had set Hamas’s forces as between 15,000 to 40,000.Israeli soldiers take position, amid the ongoing ground operation of the Israeli army against Palestinian Islamist group Hamas, in the Gaza Strip as seen in a handout picture released by the Israel Defense Forces on November 12, 2023. (credit: IDF/Handout via REUTERS)

Hamas and Islamic Jihad’s dwindling numbers

Further, prior unofficial estimates before the conflict with Islamic Jihad in May of this year had set its forces at around 10,000.

IDF sources indicated that on the eve of the war, Islamic Jihad forces had shrunk somewhat from the 10,000 number, possibly due to losses this past May.Advertisement

Each Hamas brigade is divided into specific skill sets, including those who specialize in: firing anti-tank missiles, sharpshooters, engineers, aerial units (drones or motorized hang gliders, but no aircraft), naval units, and maneuvering battle units.

In addition, each battalion has regional command centers and more local smaller-scale positions which are the focal point of directing the battalion’s operations.

Two examples that the IDF gave of Hamas battalions whose effectiveness has been harmed were the Shaati and the al Daraj-Tuffah battalions.

According to the IDF, the Shaati battalion lost 200 men, including many battalion and company commanders as well as most of its battalion-level and lower-level command centers and positions.

IDF sources said that in the time between initial IDF fighting with the Shaati battalion until several days later, there was a notable change and loss of effectiveness.

Sources said that at first, there was a clearly synchronized battle plan by Hamas to ambush Israeli forces, using a variety of tactics and specialized units.

However, once several Hamas commanders were killed by the IDF, the coordination broke down, and the various companies ceased to operate in unison, sometimes even only very small groups of Hamas forces working together, with no awareness or connection to other Hamas forces’ efforts.

In addition, IDF sources said that even when some battalions tried to replace lost commanders with commanders from other battalions, the loss of familiarity and expectations showed and the battalion did not return to their former effectiveness levels.

This has been crucial for the Shaati battalion because it is responsible for the Shifa Hospital area where Hamas’s top headquarters is situated,

A similar story came from the IDF regarding the al Daraj-Tuffah battalion, which has lost over 260 men, and commanders at all levels.

All of the above are the first in-depth data the IDF has given about its progress, other than that it has killed several thousand Hamas forces to date.

However, multiple top IDF sources have expressed doubt about Hamas being close to “breaking” even as publicly top political and IDF officials say it has lost control of northern Gaza.

end

MONDAY AFTERNOON

(JERUSALEM POST)

IDF soldiers kill 21 terrorists in Al-Quds Hospital in Gaza City

IDF in Gaza: Weapons found in children’s bedroom, university • Israeli military strikes over 300 tunnel shafts, thousands of Hamas installations

By JERUSALEM POST STAFFNOVEMBER 13, 2023 15:35Updated: NOVEMBER 13, 2023 17:14

Israeli military forces strike Hamas terrorists who launched RPG attack on IDF soldiers from Al-Quds hospital in northern Gaza, November 13, 2023. (Credit: IDF Spokesperson’s Unit)

A video of the battle released by the IDF shows civilians leaving the hospital building, as well as other terrorists emerging from adjacent buildings to hide among the civilians and join in the attack, per the statement.

The IDF says it has struck over 4,300 terrorist targets, including some 300 terrorist tunnel shafts, since it began its counter-invasion of Gaza.

Hundreds of Hamas anti-tank launchers have been destroyed during IDF operations, as well as close to 3,000 terrorist installations, including hundreds of boobytrapped weapon storage facilities, operational headquarters, and control-and-command centers across Gaza, according to the Israeli military.

Weapons cache found in child’s bedroom of senior PIJ official

Israeli forces uncovered a weapons cache hidden in a child’s bedroom in the home of a senior Palestinian Islamic Jihad official in Gaza, the IDF said on Monday morning.

Israeli forces are seen during Operation Swords of Iron in the Gaza Strip, November 13, 2023 (credit: IDF SPOKESPERSON’S UNIT)

Elsewhere in Gaza, forces from the IDF’s 401st Brigade uncovered Hamas terrorist infrastructure inside civilian centers in the al-Shati camp in northern Gaza.

The forces found and confiscated dozens of weaponry and other combat equipment, as well as Hamas intelligence, including operative plans.

END

Harvard finally reacts to antisemitism once 1600 Jewish alumni pull their donations

(zerohedge)

“Antisemitism Has No Place Here” – Harvard President Condemns “From The River To The Sea” Phrase After 1600 Jewish Alum Pull Donations

SUNDAY, NOV 12, 2023 – 04:55 PM

Following enormous backlash against the University over its initial statement about Hamas’ Oct. 7 attack on Israel – with critics condemning Harvard President Claudine Gay’s statement for failing to explicitly denounce Hamas and lack of response to a controversial joint letter by Harvard student groups in support of Palestine that called Israel “entirely responsible” for the violence – Harvard has just announced that it will work with its newly established antisemitism advisory group to implement antisemitism education and training for affiliates.

“I affirm our commitment to protecting all members of our community from harassment and marginalization, and our commitment to meeting antisemitism head-on, with the determination it demands,” Gay wrote.

“Antisemitism has no place at Harvard,” Gay added. “We are committed to doing the hard work to address this scourge.”

Harvard President Claudine Gay announced plans to implement training around antisemitism in a Thursday email.

Additionally, in her email, Gay explicitly condemned the use of the phrase “from the river to the sea” – a pro-Palestine slogan that prominent alumni have called “eliminationist” and antisemitic.

“Our community must understand that phrases such as ‘from the river to the sea’ bear specific historical meanings that to a great many people imply the eradication of Jews from Israel and engender both pain and existential fears within our Jewish community,” Gay wrote.

“I condemn this phrase and any similarly hurtful phrases.”

The Crimson reports that Gay’s decision to single out the phrase “from the river to the sea” – which is frequently chanted by the Harvard Undergraduate Palestine Solidarity Committee and other pro-Palestine student groups – almost immediately received backlash from some Harvard affiliates.

Kirsten A. Weld, a professor of History at Harvard, criticized Gay’s decision to denounce a specific phrase used by student activists.

“Can’t recall any prior instance of a contested phrase/idea receiving official condemnation like this, or having one singular ‘specific historical meaning’ imputed to it, in my 11 years on this campus,” Weld wrote in a post on X.

Gay, standing next to Harvard Chabad President Rabbi Hirschy Zarchi, views an Shabbat table installation in the Yard symbolizing the hundreds of hostages held by Hamas.

Gay also confirmed that the FBI and HUPD are investigating a video taken during the Oct. 18 pro-Palestine “die-in” protest at Harvard Business School depicting several protesters confronting a man and escorting him away after he filmed protester’s faces.

The protesters shouted “shame” after the man, who other media outlets later identified as an Israeli student.

What could have caused such a sudden and considerable ‘flip’ in Gay’s perspective (or silence) on the jew-hatred being seen at Harvard – and across many so-called ‘Ivy League’ schools? Doesn’t she realize the world is binary – oppressor vs oppressed, victimizer vs victims?

We are sure it is simply a realization that principles matter (and terrorism is bad), and has nothing at all to do with the fact that 1600 wealthy jewish alumni have withdrawn their donations from the once-prestigious learning academy.

As CNN reports, high-profile billionaire alumni like Pershing Square founder Bill Ackman and former Victoria’s Secret CEO Leslie Wexner have already said that if Harvard doesn’t take steps to fix the problem they could face a donor exodus, but now the largest group yet of alumni – most of whom do not have billionaire status – are threatening to withdraw their donations.

“We never thought that, at Harvard College, we would have to argue the point that terrorism against civilians demands immediate and unequivocal condemnation,” wrote members of the Harvard College Jewish Alumni Association (HCJAA) in an open letter to President Claudine Gay and Dean of Harvard College Rakesh Khurana.

“We never thought we would have to argue for recognition of our own humanity.”

Philanthropy is the single largest contributor to revenue at Harvard, accounting for 45% of the university’s $5.8 billion in income last year. Philanthropic gifts accounted for 9% of the university’s operating budget last year and 36% of its $51 billion endowment amassed over decades.

A very interesting perspective on the Middle East

(Tom Luongo)

Luongo: The Evolving Battle Lines In The Middle East

SATURDAY, NOV 11, 2023 – 08:10 AM

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

The biggest stumbling block to analyzing what’s happening between Israel and the rest of the Middle East is dispensing with our biases and ignorance about pretty much the entire affair. I will be the first to admit to having profound ignorance about so much of the history between Israel and the Palestinians.

I really wish everyone else having opinions right now would at least admit that up front versus trying to sound like another incarnation of the Newly-Minted Subject Matter Expert of the Week thanks to having read a couple of articles in the New York Times.

And that’s the thing I believe we are fighting more than anything else at this point: the profound amount of propaganda and outright bullshit being slung around about every event of any significance.

All it does is create confusion and cognitive dissonance. That confusion is, by the way, the goal of the propaganda, from all sides.

That said, what’s abundantly clear is that this conflict has unleashed pent-up frustrations and simmering anger from all of the major players, not just the obvious ones like Hamas, the Israeli hardliners led by Prime Minister Benjamin Netanyahu and his echo chamber on K-Street, Capitol Hill and GCHQ.

The latter have clearly dusted off “Plan R” and pulled it from the shelf and are now executing it. This Plan R looks like the one that Dick Cheney and company ran after 9/11; shift the focus away from the ones who did the deed onto the ones you need an excuse to go to war with.

So, 19 Saudis flew planes into the World Trade Center but we went to war with Iraq and Afghanistan.

Today “Hamas” slaughters a lot of jews and the first people threatened is Iran.

Even though there is good evidence that “Hamas” wasn’t the only one involved in this attack, have closer ties to Sunni organizations than Shia, and are financed out of Qatar and the UK.

I’m not saying Iran has no role to play here. It did, according to Theirry Meyssan at Voltairenet (linked above), it was Iran, earlier this year, that brought all of the Palestinian factions together to reconcile their differences.

In 2023, Iran hosted talks between the region’s various pro-independence forces, Hezbollah, Islamic Jihad and Hamas. They were held in Beirut (Lebanon) under the presidency of General Ismaïl Qaani, commander of the al-Quds brigades of the Iranian Revolutionary Guards. Their aim was to reconcile these actors who had fought a ferocious war in Gaza, then in Syria. These meetings were made public in May 2023. On this occasion the Lebanese press discussed the preparation of the unitary operation which was carried out on October 7. Iran is therefore responsible for reconciling the Palestinian factions.

So, let’s dispense with the fiction that Bibi and company in Tel Aviv didn’t know about this operation beforehand. It’s preparation was made public knowledge in May.

But, in Neocon-speak this meeting was the equivalent of having masterminded the entire attack. Again, I’m not naïve here. Of course the simple narrative of “whatever is bad for Israel is good for Iran” holds water, but that doesn’t immediately elevate to “Iran did it!” as the South Carolinian hyenas Lindsay Graham and Nimrata Haley want you to believe.

Benefitting from something is not masterminding it or funding it.

Meyssan also explains that the operational goal of the operation was the taking of hostages to effect a prisoner swap with Israel. Is he whitewashing some of this? Probably. But no more than anyone else is whitewashing what Israel and the US are doing in response, using what happened as a casus belli to go on an extermination campaign while demanding everyone around the world to pick the right side of this conflict and for everyone else to shut the fuck up.

I have vivid memories of how I was treated being anti-war post-9/11. The same post-event propaganda operation has been in full swing for a month. Thankfully, this time this issue is more of a wedge between Western powers than the GWOT that ensued twenty years ago.

Even I, early on, fell for this simplification of reducing this to Israel v. Iran trying to tease out the broader geopolitical moves on the chessboard.

I’m not here to discuss how this situation can go sideways. It already has. My goal today is to look at some of the supposedly secondary actors in this conflict to try to get a sense of what their moves may be now that the usual suspects in D.C., Tel Aviv and London have decided to up the stakes.

For the record, none of the potential outcomes here are good for the US, save everyone walking back from the brink of all-out war. I know there are a lot of anti-US empire folks hoping for a bad end to the US, but as I’ve tried to lay out for a few years now, the winners from that scenario are the very colonialists that fomented this crisis in the first place.

Mark Wauck over at Meaning in History had a great post from last week that went into one of the angles I’m going to discuss later, the British role in toppling the Ottoman Empire after World War I and setting up Israel to secure the Suez Canal.

Because, today, Turkey re-emerges as one of the pivotal players that will determine the outcome of this conflict.

But, that said I want to start in Egypt because what I can add to the story behind the violence is, as always, about money, debt and the collateral (or lack thereof) backing it.

Egypt’s Play

I want to stress that I’m not shocked one whit that war breaks out in Israel after the confluence of events from this past summer — the failed offensive in Ukraine and the BRICS gobbling up the trade routes of the Arabian Peninsula.

Earlier this year I wrote a piece for my patrons (now public) about Egypt’s debt situation and the pressure that China and Russia were placing on the International Monetary Fund (IMF) to negotiate some sort of write-down.

The fundamental problem is that the IMF lending model is one of the major pillars of the Empire, no matter how you define it. As such, the US military exists as the leg-breaker of the loan shark cartel of Western banking interests.

In normal lending when the debt goes bad, when the debtor can’t pay, they can go into bankruptcy protection and work out a deal for the lender to get something back. But everyone on both sides of the table knows that some portion of the principle will vanish into the ether.

Both sides will lean in and take a hit. The lender can get nothing if they insist on their original terms or they can get something if they restructure.

In international finance through the IMF/World Bank that is NEVER the model. Only one side has to face this while the other just stands there, arms crossed and says, you can have better terms but the principle will not be written down $1.

This is what China is standing up to and this is ultimately why there will be no backing down on the war front over this. In effect, this is where the real division between the Neocons and Davos resides.

So, with that in hand, and the open knowledge of the planned attack by “Hamas” for later this year, think about the accession of Egypt and five others into the BRICS Alliance this past August, where I posited was all about controlling the flow of global trade, not the declaration of monetary independence with some gold-backed BRICS coin.

That was always another bullshit narrative.

In fact, it is hard to argue that the decision-makers in London, Brussels and D.C. didn’t know what was really going to happen at the BRICS Summit and made flowcharts of potential responses for later in the year.

That flowchart had to include a response to an attack by “Hamas” they knew was in the works.

This is why it is difficult for me to shake the feeling that the attack by Hamas was intentionally allowed to bring us to this moment. I have tried my very best not to fall into the potentially false ‘false flag’ narrative.

This thing could have been a Stand Alone Complex; a thing that burbled up out of the collective unconscious of the ‘oppressed factions’ in the Middle East. It’s a rational way of looking at it. But there is no denying the potential ‘hand of fate’ pushing things to their crisis point, especially knowing that aspects of this were known to be in preparation months previously.

And that ‘hand of fate’ reveals itself by degrees with every move made. The pressure on the IMF was a sign of support for Egypt who was just about to join the BRICS alliance in August.

The IMF, of course, said no. Restructuring only. Not one dollar of write-downs. As I said earlier, this is IMF S.O.P. Moreover, agreeing to any write down of any debt, is the proverbial camel’s nose under the loan shark’s tent. So, the message stays, “We own you and you owe us.”

It’s not about the money it’s about the leverage. The money flows from the leverage.

But, Egypt is a real fork for the BRICS vs. Davos. And that fork made itself plain this week when Israel offered to forgive Egypt’s IMF debt if it took every Palestinian in as a refugee. Now, I’m not sure how Israel can make that offer on behalf of the IMF in the first place. And I’m further unsure why they thought offering to Egypt the very thing they are going to do anyway (default with Russia and China’s support) would work.

I guess they had to try.

That offer was simply the standard tactic of creating a crisis, taking something from someone else and then offering it back in exchange for what you really want. Davos and the Neocons do this all the time.

It’s pathetic.

Egypt, of course, told them to pound sand. So, they are now committed to the fight, if only metaphorically. It means that any plans to relocate all 3 million Palestinians in Gaza will not go through Egypt. It also means the probability of them defaulting on the IMF rises with civilian killed in Gaza.

Turkey’s Big Move

The bigger issue is what’s happening with Erdogan in Turkey. Erdogan is trying to rebuild the Ottoman Empire. We’ve already established one way to view World War I was as an operation to destroy the Ottoman Empire.

I’m not arguing for its return, mind you, just laying out the perspectives.

So, Erdogan’s reactions to Netanyahu’s campaign in Gaza needs to be looked at from this frame. Moreover, he sees himself as the new Sultan, the leader of the Sunni world.

Turkey, however, is in a very difficult position being a member of NATO, which puts Erdogan in a difficult position if he wants to maintain his carefully-crafted leverage over both NATO and the BRICS thanks to Turkey’s geographic, economic, cultural, and military influence in the region.

A point made by col. Doug MacGregor is that Turkey is just one part of the Turkic world and the Turkish-speaking world. At the recent 10th Summit of Organization of Turkic States (OTS) in Astana, Kazakhstan, Erdogan’s influence was felt in their collective statement:

A joint declaration, adopted at the summit, called on all parties to the Israeli -Palestinian conflict to declare an “immediate cease-fire to protect civilians and to provide immediate and unhindered humanitarian aid throughout the Gaza Strip.” “The conflict can only be resolved through peaceful means based on relevant UN resolutions and the two-state solution”.

Erdogan’s influence is massive in this respect. And if he makes the decision to finally and definitively break with the West, which circumstances alone would force on him if he were reluctant, then he leads the entire region with him.

If Erdogan wants to lead the Sunni world then he has to take a maximalist hardline against Israel’s bombing of Gaza.

But, Turkey as a member of NATO is a signal to the OTS that Russia is still weak, because Turkey doesn’t dare really anger the US.

However, if Turkey leaves NATO because of Israel’s behavior that signal reverses. Turkey then stands with Russia in their minds and, in effect, declares Sunni Independence from the old European Colonial remnant.

So, Erdogan has a very unique and powerful opportunity ahead of him. He gets to define the Sunni world’s legacy as either butchers of Jews or arbiters of the peace. This is why he’s been trying to broker peace deals while at the same time making very aggressive territorial moves in the Eastern Mediterranean, Syria, and in the Caucuses.

Because of this, he has a delicate balancing act here. He has to commit the Sunni world to a fight against Israel and the US, the way Hassan Nasrallah did in his speech for Hezbollah representing the Shia. But, at the same time his economic position is very weak after years of attacks not only on him personally as Turkey’s president but the country’s economy as multiple attacks against the country’s financial imbalances have seen the lira hyperinflate against the US dollar from just under 1.8 ten years ago to 28 recently.

As I’ve covered before, Turkey’s Achilles’ heel has been its net foreign-currency debt position, which has been, at times, more than 34% of the country’s GDP. With the dollar in a new bull market the value of that debt keeps rising.

So, for Erdogan, the goal is to get Israel to come to the negotiating table offering Ankara as the site for which a grand peace can be brokered that puts a start date on a new Ottoman Empire.

How does he do that given that Netanyahu is unmoved by any offers from to back down on his plans to wipe out the Palestinians as he assumes full support is always coming from the US.

The way I think Erdogan can achieve this is not with tanks and infantry, frankly. He blows open the wound which lays at the heart of Turkey’s economy and is the backbone of the empire, the debt. So, similar to what I expect from Egypt, Erdogan will unilaterally cancel all Turkish US dollar- and euro-denominated debt, swapping it out for Turkish lira debt.

In essence, defaulting on the debt and paying back bondholders at pennies on the dollar.

He’ll do this by first declaring a USD/TRY exchange rate far below the current market price of ~28 to 1, say 12:1 or even 6:1, then declare force majeure and revalue the debt at that rate in lira.

This would be the nice way of doing this. He could just cancel the debt at current exchange rates and declare the debts paid because of the massive attack on Turkey’s forex reserves which drove the lira into the ground anyway.

In effect, debt jubilee for domestic Turkish corporates.

His speeches this week tell us that he’s preparing for something big. He’s done taking body blows from the US now that he’s past re-election.

If he does this, which would be his strongest move across all of the big vectors, and leaves NATO at the same time, he would force the US out of his country. The protests we saw at Incirlik last week would intensify, if not become a real threat.

I suspect/hope the US nukes stationed there previously are long gone.

The Turkish military could then become the physical guarantors of any peace process with Israel. Erdogan and Putin hold those cards. The US doesn’t because we have lost all credibility in the region with everyone, even Israel with “Biden” at the helm.

Secretary of State Antony Blinken’s tour of the region is proof of that. The confused foreign policy of the “Biden” administration lies at the heart of the conflict between Davos and the Neoconservatives that pushed us into not only this war but the one in Ukraine.

The World’s Choice

I don’t present these scenarios as prediction rather as discussion points. What’s obvious is that the world is reaching a critical moment where we have a stark choice in front of us: Global war stemming from uncorking the old wounds in the Middle East or accepting the limitations of the policies which led us to this moment.

What I do not want to see is a kind of Thucydides’ Trap that the US is led into blindly by a mixture of maneuvering by colonial forces in Europe, old ethnic grudges held by people placed in powerful positions (the Nuland/Kristol Axis in the US and the Shia Clerics in Iran), and good ol’ fashioned greed by those who would profit from the chaos.

But, one thing is certain in these uncertain times, every angle has to be explored when discussing these issues, not just our preferred outcome based on our own limited knowledge of both recent and older history.

* * *

Join my Patreon if you want to avoid traps

UKRAINE VS RUSSIA/

Map Shows Another Key Ukraine City Almost Fully Encircled By 40K Russian Troops

SATURDAY, NOV 11, 2023 – 07:35 AM

More evidence has emerged this week that Russia is poised to soon solidify hold over all of the Donetsk region, in yet more bad news for Ukraine, after its struggled to make any gains at all for the last six months.

Newly published military maps show that Russian forces are in the midst of a large pincer move involving some 40,000 troops closing in on the key city of Avdiivka, which has long been a Moscow objective since the war’s start.

Ukraine’s military has acknowledged this week: “They are building up reserves. They’ve brought in about 40,000 men here along with ammunition of all calibers.”

According to more of the statement issued by Anton Kotsukon, spokesman for Ukraine’s 110th mechanized brigade, “We see no sign of the Russians abandoning plans to encircle Avdiivka.”

Further, Kotsukon described that “Russian troops have surrounded Avdiivka on three sides and were playing cat and mouse and sending up huge numbers of drones to analyze Kyiv’s defenses,” according to a summary of his briefing.

For Ukraine, the city is seen as a strategic hoped-for future gateway to launch operations to recapture territory in the east, but that prospect is clearly slipping.

Washington-based think tank The Institute for the Study of War has published a fresh map showing the encirclement in progress:

The town had over 32,000 residents before the war, but now could be down to less than 2,000 – according to media estimates.

While the “four territories” of the east and south have already been annexed, incorporated into the Russian federation, there are still areas not completely under Russian control yet. All of his is a key war aim of President Putin’s.

END

UKRAINE/RUSSIA

Kiev’s military collapse//but a statemate with Russia. Too many loss of lives

(Pepe Escobar)

Escobar: Another Snapshot Of Kiev’s Military Collapse: But It Ain’t Over Yet

SUNDAY, NOV 12, 2023 – 11:20 PM

Authored by Pepe Escobar,

The spectacular “success” of Kiev’s counter-offensive, which echoed throughout the geopolitical galaxy, has predictably engendered what everyone with a brain was expecting: a dogfight…

Enter the Zelensky-Zaluzhny Show – especially after the commander-in-chief of the Armed Forces of Ukraine (AFU) admitted on the record that the war has “reached a stalemate” – code for “we’re deeply in trouble”. He also referred to “positional defense” – code for “we’re gonna keep losing more and more territory.”

The dogfight comes complete with Mafioso overtones, as in 39-year-old Zaluzhny assistant Gennady Chistyakov “accidentally” detonating a grenade received as a gift, seriously injuring his daughter and duly blowing himself up.

This might be seen at face value as yet another wacky Pulp Fiction-style sketch involving the top dogs (with no Winston Wolf to “solve problems”). But it does carry an ominous message to Zaluzhny: once again, Mafia-style, from now on he’d better beware of friends bearing gifts.

As for the “counter-offensive”, the file, for all practical purposes, seems to be closed. There won’t be another one – because there are no more weapons, assets or troops to carry it, except the odd Ukrainian elderly citizens and unsuspecting housewives chased by the “security services” as they exit the supermarket.

A moral-psychological debacle

That brings us to yet another snapshot of what’s really happening on the frontlines.

The attached document, fully verified for authenticity, is a mid-October report to the Commander of the 10th Army Corps of the AFU.

The report states that the 116th separate mechanized brigade is “incapable of conducting offensive operations because of high losses and high numbers of soldiers that need psychological and medical assistance.”

The 116th brigade has been deeply involved in military operations in the Zaporozhye region for 5 months already. For 3 months it had been part of the 10th Army Corps, “Tavriya”.

The report details that the brigade’s losses are 94 soldiers dead; 1122 wounded; and 95 missing. That corresponds to 25% of the total number of personnel.

When it comes to the moral-psychological front, at least 153 soldiers are deemed in need of immediate psychological rehabilitation.

This brigade is a quite significant unit; what’s implied is that a moral-psychological debacle is now inbuilt as a System Error at the heart of the Ukrainian military. Consequences, short and middle term, will be dire.

All that is happening while the flow of foreign mercenaries to the AFU is drying up. No wonder: enter the Perfect Storm of brigades being thoroughly decimated; unspeakable levels of corruption; and better career opportunities in the rekindled Forever War in Israel/Palestine.

Civilians in Kharkov, for instance, confirm that foreign mercenaries speaking Polish or English are now “almost invisible”.

None of the above means that things from now on will be a cakewalk for Russia. For instance, the Russian Army still has not been able to destroy the Ukrainian bridgehead on the Dnieper in Kherson.

Further on down the road, it will be increasingly trickier to expel the Ukrainians from the eastern margin of the Dnieper.

Russian military media, at the highest level, does its best to sharply focus on serious instances of ineptitude by the Russian Army. That’s their civic duty – and involves creating a groundswell of public opinion, forcing the Russian Army to correct its mistakes and most of all refrain from underestimating the enemy.

After all, this is far from over – no matter the dogfight now raging in the corridors of power in Kiev.

END

6,VACCINE/COVID ISSUES & GLOBAL ISSUES

GLOBAL ISSUES

Robert h;

Eye-Opening Video Banned From Social Media | The Epoch Times

In an era where the rule of law is a fiction to be sold to an unsuspecting public, trust in government simply declines as the real face of government institutions is shown for what it is. Similarly the public is awakened to the reality they are nothing but instruments of monetary gain at their own expense. This is why the whole of the Western world model is collapsing upon itself as not only does the public awaken but so does the world outside the bubble of disinformation. Today, it is called the Global South. Tomorrow it maybe something else.

Various global players seek world stage presence in the game of hegemony which is what we are witness to around the globe. You and I are mere expendable pawns in a game where humanity does not count. Wars or conflicts if you will are mere examples of a struggle as the board game changes without disclosure of the real purpose. Slowly now, even the tragedy of Israel and Gaza suffering takes on new meaning as whispers of a new canal running through Israel and Gaza to displace the Suez Canal for profit and hegemony takes on new meaning. Placing this conflict in the real context of what this all about. And makes State reactions from France to Egypt to America to Russia to China all the more clear. The public at large is left to learn to be distant to emotional media hype to latent realities and to be reflective prior to reacting to learn agenda and truth to act mindfully and not emotionally.

It is only when you step back from the noise does truth step up to educate and thus awaken one’s mind to realities of the day as opposed to be spoon fed fiction. In reality to have sight and not see is a lost to one’s own development and standing and serves other’s agenda and not you own.

One da, after we go through the chaos yet unseen but coming; perhaps we will see a ruling structure that serves the public. And we should not shed tears for a structure collapsing that was never intended to serve.

https://www.theepochtimes.com/health/eye-opening-video-banned-from-social-media-5523956

Ben Gurion Canal Project

Tools

From Wikipedia, the free encyclopedia

Ben Gurion Canal compared to the Suez Canal^{[citation needed]}

The Ben Gurion Canal Project^{[citation needed]} or Israeli Canal^{[citation needed]} is a proposed canal project through the state of Israel. It would connect the Gulf of Aqaba to the Mediterranean Sea.^[1]^[2]^{[better source needed]} David Ben Gurion, for whom it would be named, is considered the Founding Father of Israel and was the first Prime Minister of Israel.

The canal would rival the Suez Canal, which runs through Egypt and has had many disturbances in its history, such as the Israeli blockage through the Suez Canal and Straits of Tiran, Closure of the Suez Canal (1956–1957), Closure of the Suez Canal (1967–1975), and the 2021 Suez Canal obstruction.^[1] It would be almost one third longer than the 120.1 mi (193.3 km) Suez Canal, at around 182 mi (292.9 km).^[2]

Ben Gurion Canal topographic maps

Route[edit]

Starting from the Southern end at the Gulf of Aqaba, by the port city of Eilat in Israel on the Israeli and Jordanian border, through the Arabah Valley for about 100 km between the Negev Mountains and the Jordanian Highlands and veers West before the Dead Sea basin and the Dead Sea which is 430.5 metres (1,412 ft) below sea level,^[3] and heads through a valley in the Negev Mountain Range, then heads North again to get around the Gaza Strip and link up with the Mediterranean Sea.

END

ROBERT h:

Worth listening to

It may come to pass that all that remains is balance capital that cannot be dissipated. It maybe high jacked for a time. But in the end it still is on a blockchain. People forget that every dollar of movement in USD is recorded and known to many agencies. The problem is a lack of a rule of law that punishes the crooks.
Perhaps the GS will settle the matter as the use of systems like TON cast adrift Swift, PayPal and Visa to offer up a new means of settlement on a blockchain.

https://youtu.be/gO5201o6Gq8?si=dtqJjMfPCEnH2GTx

GLOBAL VACCINE/COVID ISSUES

DR PAUL ALEXANDER:

WHAT!!!!!!!

Four Los Angeles sheriff’s officials found dead in apparent UNRELATED suicides? All at once? And we are to not be concerned? This makes no sense to me, something is very very wrong then in that State

& police force; can you comment?

DR. PAUL ALEXANDERNOV 11

READ IN APP

Law enforcement officials found four Los Angeles County Sheriff’s Department employees dead on Monday and Tuesday, in what officials described as unrelated suicides, according to multiple reports.

The deaths include one retired LASD member and three current members over a 24-hour period, according to KTLA. The first three victims were discovered on Monday, with the first victim being found dead at around 10:30 a.m. in Valencia; a second death was discovered at 12:53 p.m. in Lancaster; and a third death was reported at 5:40 p.m. in Stevenson Ranch. Detectives responded to the fourth victim Tuesday at around 7:30 a.m. in the city of Pomona, KTLA reported.

L.A. County Sheriff Robert Luna said the deaths rocked law enforcement officers across the state.

https://www.yahoo.com/news/four-los-angeles-sheriffs-officials-153358839.html

END

BREAKING: Former FC Zurich player Raphael Dwamena (28 years old) has just passed away after collapsing on the pitch in the Albanian League; this is tragic! did Dwamena die due to the mRNA technology

COVID gene vaccine (Pfizer, Moderna, BioNTech)? Did he have a damaged heart and silent myocarditis due to the vaccine that caused cardiac arrest after catecholamine (adrenaline) surge?

DR. PAUL ALEXANDERNOV 12

READ IN APP

NEW – Former FC Zurich player Raphael Dwamena (28) has just passed away after collapsing on the pitch in the Albanian League. pic.twitter.com/A573W9kMQ8
— Disclose.tv (@disclosetv) November 11, 2023

Will autopsy be done? Will we be told the results?

END

Italian Fashion Designer David Renne Dies at 46 New York Times reporting he “apparently died of a heart attack” & media reports it as a ‘sudden illness’, did David die due to mRNA technology vaccine?

Renne’s death due to a “sudden illness” was announced on Friday just nine days after he stepped into his new role as Moschino’s Creative Director; we need more details, autopsy, spike protein staining

DR. PAUL ALEXANDERNOV 12

READ IN APP

What killed this young seemingly fit healthy male? In this era of ‘DIED SUDDENLY’ linked to the COVID mRNA gene vaccine? Would we ever be told the truth by his family? Will an autopsy be done?

https://ca.news.yahoo.com/davide-renne-moschinos-creative-director-210842063.html

END

A MUST VIEW:

MPP Goldie Ghamari speaks in the Ontario legislature and talks on antisemitism in Canada; There is no place for hatred, racism, antisemitism in Canada; “Our hearts bleed for all the innocent lives

lost, including Palestinians. But if you cannot call out terrorism, if you cannot have the moral clarity to understand…the root cause of this is terrorism…’ my friend Dr. HT reminded me of this sp

DR. PAUL ALEXANDERNOV 10

READ IN APP

END

SLAY NEWS

The latest reports from Slay News

WEF-Linked UPenn: ‘Climate Change’ Causing Heart Attacks Spike The University of Pennsylvania has published a new study claiming that spikes in fatal heart attacks and strokes are caused by “climate change.”READ MORE

Antifa Sends ‘White Powder’ in Voter Envelopes to Election Offices Across America: ‘We Are in Charge Now’Election offices across the country have reportedly received voter envelopes through the mail laced with a suspicious “white powder.”READ MORE

Elise Stefanik Files Formal Complaint against Judge Arthur Engoron over ‘Bizarre Behavior’ & ‘Bias’ during Trump Trial Rep. Elise Stefanik (R-NY) has filed a formal ethics complaint against Arthur Engoron, the radical judge overseeing the politically motivated New York civil trial against President Donald Trump.READ MORE

GOP Rep Moves to Slash Karine Jean-Pierre’s Salary to $1 for ‘Repeatedly Lying to the American People’A Republican congresswoman has introduced an amendment seeking to slash the salary of Democrat President Joe Biden’s White House Press Secretary Karine Jean-Pierre to just $1.READ MORE

Biden’s 2020 Campaign Accused of Violating Federal Law, Running ‘Coordinated Disinformation’ Effort Democrat President Joe Biden’s 2020 election campaign and several of his administration’s officials and allies have been accused of violating federal law by running a “coordinated disinformation” effort.READ MORE

Republicans Subpoena Jeffrey Epstein’s Estate for Infamous Flight Logs Republicans are moving to issue subpoenas against the estate of Jeffrey Epstein in order to obtain the infamous flight logs from his private jet.READ MORE

Michigan Town Votes Out Entire Local Government over Chinese Communist Party-Linked EV Plant Construction Residents of a small Michigan town have risen up and voted out their entire local government after officials backed plans to build a Chinese Communist Party-linked electric vehicle (EV) plant nearby.READ MORE

Brittney Griner Does U-Turn on Anti-American Protesting, Says She’s Looking Forward to National Anthem at 2024 Olympics Before she was locked up in a Russian gulag last year, WNBA player Brittney Griner was better known for her anti-American protests than her basketball skills.READ MORE

Democrat Sen Joe Manchin Won’t Seek Re-Election in 2024 Democrat Senator Joe Manchin (D-WV) has announced that he won’t be seeking re-election to the U.S. Senate in 2024.READ MORE

Biden’s Energy Chief Invited Chinese Communist Party Leaders to Inspect U.S Nuclear Site, GOP Demands Answers Republicans are demanding answers after it emerged that Democrat President Joe Biden’s Department of Energy (DOE) chief invited Chinese Communist Party leaders to inspect a sensitive U.S. nuclear testing site.READ MORE

Biden Disputes Polls Showing Trump Ahead in Battleground States: ‘I’m Beating Him’Democrat President Joe Biden is disputing the results of several recent polls that show him underwater in multiple battleground states.READ MOREThe latest reports from Slay NewsTop Cardiologist Testifies: Covid Shots ‘Are Not Safe for Human Use’One of the world’s leading cardiologists, Dr. Peter McCullough, has warned the public and government officials, in no uncertain terms, that Covid shots are dangerous and “not safe for human use.”READ MORE Elon Musk Warns Zelensky: Stop Sending Young Ukrainians to Die in War Twitter/X boss Elon Musk has warned Ukrainian President Volodymyr Zelensky to stop sending his young citizens to die in an endless globalist war with Russia.READ MORE Ramaswamy: DeSantis Was ‘Dragged’ into 2024 Run, ‘He’s Been Exploited’Republican presidential candidate Vivek Ramaswamy has said that he believes Florida Governor Ron DeSantis is being “exploited” and was “dragged” into his 2024 campaign.READ MORE San Francisco Cleans Up Homeless Encampments in Preparation for Chinese Communist Party Leader’s Visit San Francisco has finally cleaned up its city streets but only as part of preparations for an official visit by dictator Xi Jinping, the leader of the Chinese Communist Party.READ MORE 4 Officials Found Dead from Single Sheriff’s Department in 2-Day Span Four officials from the same sheriff’s department have been found dead after apparent suicides.READ MORE Biden’s New Mandate Forces All Federal Employees to ‘Salute’ to Pride Flag Democrat President Joe Biden’s administration has just introduced a new “gender pronoun” mandate for federal employees.READ MORE UN Adopts Eight Resolutions Condemning Israel, Refuses to Condemn Hamas for Terror Attacks The United Nations (UN) has adopted eight resolutions condemning Israel for its military response to the Hamas terrorist group’s October attacks against the Jewish state.READ MORE Robert De Niro Loses Court Battle, Ordered to Pay Ex-Assistant $1.2 Million for ‘Disgusting’ Abuse Hollywood star Robert De Niro has lost his court battle with a former assistant and must pay her $1.2 million in damages.READ MORE Democrat Tlaib Funded by ‘Six Terror-Linked’ Fundraisers, Watchdog Warns Radical anti-Semitic Democrat Rep. Rashida Tlaib (D-MI) is funded by at least “six terror-linked activists,” a watchdog group has warned.READ MORE Democrat James Clyburn Says He Doesn’t ‘Believe’ Biden’s Sinking Poll Numbers: ‘Absolutely Not’Democrat Rep. James Clyburn (D-SC) has stated that he simply doesn’t believe the poll numbers showing President Joe Biden’s sinking popularity among voters.READ MORE

EVOL NEWS

Sudden Deaths ‘Explode’ Among Young People, Experts ‘Alarmed’READ MORE…

LATEST NEWS:

Georgia man arrested, accused of threatening to kill Rep. Marjorie Taylor GreeneRead more…Former GOP Senator Says She Was Sexually Assaulted On Run * * by GrahamRead more…BREAKING: Election Centers Were Sent Fentanyl-Laced Letters With Antifa SymbolsRead more…Romney and Manchin Call for Commission to Stabilize US DebtRead more…Envelopes laced with fentanyl, other powders sent to election officesRead more…Trouble in Fulton County? High-Powered Defense Attorneys Move to Withdraw Amid Questions About 2020 BallotsRead more…Was ‘High-End Brothel Network’ Chinese Espionage Plot To Entrap Government Officials? * * by DanielleRead more…BREAKING: Democrats Abruptly End SCOTUS Witch Hunt After After GOP Threatens Counter-Subpoena Of George SorosRead more…

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Sudden Deaths ‘Explode’ Among Young People, Experts ‘Alarmed’Experts are raising the alarm after a new study found that sudden deaths among young people are “exploding” at rates never seen before.READ THE FULL REPORT

Voting Machine Company That ‘Flipped Votes’ Admits ‘Someone Programmed the Election’A senior executive from the company behind the voting machines that “flipped votes” in Pennsylvania on Tuesday, has admitted that “someone from our team programmed the election.”READ THE FULL REPORT

WATCH: Election Offices in Georgia, Washington Received ‘Suspicious’ Envelopes Authorities in Georgia and Washington are currently probing into “suspicious” envelopes that were mailed to election offices on Wednesday. Officials are characterizing these packages as acts of “terrorism,” sparking investigations into the matter. Steve Hobbs, the Secretary of State in Washington, has disclosed that election workers in multiple counties received envelopes containing “unknown powdery substances” on Wednesday. This led to …READ THE FULL REPORT

Oscar-Winner Actress Cate Blanchett Pushes for Open Borders; Empowering Migrants to Freely Enter Countries of Their Own Choice Actress Cate Blanchett called for an instant ceasefire in Gaza while addressing the European Union parliament in Brussels on Wednesday. She also pushed for open borders, allowing third-world migrants to freely enter the Western countries of their preference. The two-time Oscar winner also condemned individuals who “see walls and barbed wire fences as a solution to the world’s 36.4 million …READ THE FULL REPORT

Chairman James Comer Issues New Subpoenas for Key Biden Family Associates, Including ‘Moneyman’ and Art Dealer House Oversight Committee Chairman James Comer has issued subpoenas to four associates of the Biden family, marking the second round released within two days. These subpoenas are part of an investigation into the Biden family’s business affairs. The subpoenas and transcribed interview requests include: “Moneyman” Eric Schwerin (Subpoena) Former top CEFC China Energy Co. official Mervyn Yan (Subpoena) Art dealer Georges Bergès (Subpoena) Art buyer Elizabeth Naftali (Subpoena) …READ THE FULL REPORT Bill Gates’ Latest Scheme Will Kill ‘Millions of Young People,’ Experts Warn Bill Gates’ latest plan to roll out experimental vaccines across multiple third-world nations will unleash a “mass casualty event,” experts are warning.READ THE FULL REPORT IRS Unveils New Tax Bracket Income Limits for 2024 The IRS has revealed the annual inflation adjustments impacting more than 60 tax provisions for the upcoming 2024 tax year. This includes a bump in the standard deduction and fresh income limits for seven tax brackets. In a statement on November 9, the federal agency announced that a series of fresh annual inflation adjustments will have an impact on the …READ THE FULL REPORT Pro-life Activist Raided by FBI Files Lawsuit Against DOJ for Malicious Prosecution and Emotional Distress Pro-life activist Mark Houck and his wife are filing a lawsuit against the Department of Justice (DOJ) for the way their family was treated during his intense arrest at gunpoint. The Houcks initiated legal action on November 6, pursuing compensation for charges including assault, false arrest, abuse of process, malicious and retaliatory prosecution, and “intentional infliction of emotional distress.” Mark …READ THE FULL REPORT Trump Appointed Federal Judge Strikes Down Biden’s ATF AR-15 Gun Ban A federal judge appointed by Trump has just rejected an effort by Biden’s ATF to prohibit AR-15 pistols with arm braces. Despite the escalating crime rates, the Democrats remain determined to disarm law-abiding Americans. Gun sales are skyrocketing at the moment, fueled by the shock and concern of Americans witnessing the attacks on mostly unarmed Israelis by Hamas in October. …READ THE FULL REPORT Election Offices That Received Fentanyl-Laced Envelopes Were Targeted by Antifa Members Election offices throughout the U.S., including a key battleground state, have been hit by suspicious letters carrying a powdery substance, with some testing positive for fentanyl. These incidents have prompted the evacuation of multiple election offices, resulting in delays to the ballot counting process. Letters sent to election offices in Georgia, Nevada, California, Oregon, and Washington are said to have …READ THE FULL REPORT

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

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

I doubt that this is true but bringing it to your attention anyway

(zerohedge)

WaPo Drops Bombshell On The Nord Stream Pipeline Sabotage Narrative: A Ukrainian Colonel, Covert Ops, & The CIA’s Shadow

SATURDAY, NOV 11, 2023 – 06:05 PM

Consider the source (and the timing)…

No lesser deep-state mouthpiece than The Washington Post just dropped a bombshell with the revelation that Ukrainian Colonel Roman Chervinsky “was integral to the brazen sabotage operation” on the Nord Stream pipeline, “according to officials in Ukraine and elsewhere in Europe, as well as other people knowledgeable about the details of the covert operation.”

The bombing, dubbed a “dangerous assault on Europe’s energy infrastructure” by US and Western officials at the time, marked a critical juncture in the ongoing tensions between Russia and the West. By targeting the pipeline, the operatives (whoever they were) struck a blow to a critical artery of Russian energy exports, a sector that has been at the heart of European-Russian economic relations.

Additionally, as the Goebbels-ian narrative that ‘Russia did it’ was pushed by mainstream media (and politicians), it enabled further ‘aid’ to be sent to Ukraine, to ‘protect interests’.

Chervinsky, a senior figure within Ukraine’s Special Operations Forces, was allegedly the “coordinator” of the attack on the Nord Stream pipeline. The operation, executed with precision and secrecy, involved deep-sea diving and explosive charges, ultimately resulting in substantial damage to the pipeline which Ukraine had long complained would allow Russia to bypass Ukrainian pipes, depriving Kyiv of huge transit revenue.

Of course, as one would expect, the Ukrainian Colonel, via his counsel, refutes any involvement in the pipeline sabotage, blaming Russia for this accusation.

“Without merit, Russian propaganda is spreading all rumors regarding my participation in the assault on Nord Stream,” Chervinsky stated in a written statement to The Washington Post and Der Spiegel, which jointly investigated his activities.

It would not have been out of character as WaPo reports that Chervinsky is a decorated officer with extensive experience in covert operations, reportedly including plans to ensnare Russian Wagner mercenaries and targeting pro-Russian separatists, highlighting a pattern of aggressive, high-stakes operations against Russian interests.

Furthermore, WaPo reports that Chervinsky did not act alone and he did not plan the operation, again “according to the people familiar with his role,” but instead took orders from more senior Ukrainian officials, who ultimately reported to Gen. Valery Zaluzhny, Ukraine’s highest-ranking military officer, “according to people familiar with how the operation was carried out.”

More problematically, Chervinsky’s involvement in the Nord Stream assault is in direct opposition to Zelensky’s public denials regarding Ukraine’s involvement.

“I am president and I give orders accordingly,” Zelensky said in press interview in June, responding to a report by the Post that the U.S. Central Intelligence Agency had learned of Ukraine’s plans before the attack.

“Nothing of the sort has been done by Ukraine. I would never act that way,” Zelensky said.

Interestingly, WaPo reports that Chervinsky is being held in a Kyiv jail on charges that he abused his power stemming from a plot to lure a Russian pilot to defect to Ukraine in July 2022. Authorities allege that Chervinsky, who was arrested in April, acted without permission and that the operation gave away the coordinates of a Ukrainian airfield, prompting a Russian rocket attack that killed a soldier and injured 17 others.

This WaPo report comes at a crucial time in the geopolitical chess-game, as the desire for more spending in what appears to be a lost cause in Ukraine is fading fast among Western populations (most notably US), and perhaps offers President Biden an ‘excuse’ to reduce aid in light of this ‘shocking development’ – which, of course, Washington has vehemently denied any involvement in (and denounced as a “reckless act”.

But the twists and turns do not stop there as the backdrop to this unfolding drama includes Seymour Hersh’s explosive allegations regarding the CIA and the US Navy’s covert activities.

Throughout “all of this scheming,” the source said, “some working guys in the CIA and the State Department were saying, ‘Don’t do this. It’s stupid and will be a political nightmare if it comes out.’”

Nevertheless, in early 2022, the CIA working group reported back to Sullivan’s interagency group: “We have a way to blow up the pipelines.”

Hersh, a renowned investigative journalist – who broke such well-known stories as the My Lai massacre and Abu Ghraib scandal and has long been known for impeccable insider sources – has previously reported on the deep entanglement of US intelligence in various global hotspots, hinting strongly at the complex interplay between Ukrainian ambitions and broader Western strategic objectives.

The broader geopolitical context cannot be ignored.

The US and NATO have been deeply involved in supporting Ukraine against Russian aggression, but the extent of their involvement in covert operations remains a subject of intense debate and speculation. The Nord Stream bombing, if indeed orchestrated by a faction within the Ukrainian military, could be seen as an extension of this proxy conflict, where Ukraine serves as a frontline in a larger strategic contest between Russia and the West, with CIA pulling the strings (just as Hersh concludes).

In an interview with WaPo in June of this year, Zaluzhny said the CIA had never asked him directly about any attack on Nord Stream. He said that after the explosions, in September 2022, he received a phone call from then-U. S. Chairman of the Joint Chiefs, Gen. Mark A. Milley.

“He asked me, ‘Did you have anything to do with it?’ I said, ‘No’. A lot of operations are planned, a lot of operations are going on, but we have nothing to do with it, nothing at all.”

Some of those who described Chervinsky’s participation in the Nord Stream attack defended the veteran intelligence officer as acting in Ukraine’s best interests.

So, why now? Suddenly various ‘sources’ come forward to offer a scapegoat for this “reckless act”?

A distraction from potential confirmation of Washington’s involvement? … A potential release valve on the ‘blame Russia’ narrative enabling ‘peace’ conversations to take place? … An opportune excuse to curb ‘aid’ (pending an investigation)given the involvement of Gen. Valery Zaluzhny, Ukraine’s top military officer (and Zelensky’s denial) prompting questions of discord within the Ukrainian chain of command?

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

ICELAND

Iceland Declares Emergency As ‘Quake Swarms’ Signal Potential Volcanic Eruption

SATURDAY, NOV 11, 2023 – 12:15 PM

Authorities in Iceland declared an emergency and issued an evacuation order for thousands of people in a popular tourist town in the country’s southwestern Reykjanes Peninsula after quake swarms intensified in the last 48 hours – sparking fears that the next big volcanic eruption could be imminent.

On Friday night, Iceland’s National Police Commissioner declared a state of emergency for civil defense. Residents in Grindavík were ordered to leave after a magma tunnel formed under the area.

“We want to reiterate that residents MUST evacuate their homes and leave the town. But we also want to reiterate that this is not an emergency evacuation, there is plenty of time to prepare, secure things and drive out of town calmly,” the agency said.

The Icelandic Meteorological Office’s latest update warned:

“The seismic activity has moved south towards Grindavík. Based on how the seismic activity has evolved since 6 PM today, along with results from GPS measurements, there is a likelihood that a magma intrusion has extended beneath Grindavík.”

It said:

“At this stage, it is not possible to determine exactly whether and where magma might reach the surface. There are indications that a considerable amount of magma is moving in an area extending from Sundhnjúkagígum in the north towards Grindavík. The amount of magma involved is significantly more than what was observed in the largest magma intrusions associated with the eruptions at Fagradalsfjall.”

Magma coming to the surface produced the first seismic activity on Oct. 25, and since then, 22,000 quakes have been reported.

In the last 48 hours, seismic activity has intensified with over 1,500 quakes.

Officials have elevated the volcanic warning system to “orange,” which means heightened unrest with an increased likelihood of eruption.

The US Embassy in Iceland also issued a volcano alert, warning about the increased signs of volcanic activity.

“If an eruption occurs, follow the instructions of Icelandic authorities. Volcanic hazards may include lava, toxic gases, and heavy smoke from fires ignited by lava,” the embassy said.

In 2010, nearly all flights in Europe and across the Atlantic Ocean were halted for a week as ash from the Eyjafjallajokull volcano sparked one of the most significant air traffic disruptions in peacetime until the Covid virus pandemic in 2020.

end

Icevolcanx on X: “This will probably be a big volcanic eruption: the dike intrusion near Grindavik that began yesterday caused ground shifts of 120 cm (yes, centimeters). Within three hours. In the last Fagradalsfjall eruption it was 10 cm in one week. Data: https://t.co/7cXRnZ

If this blows air traffic to Euro will be shut for a while…

https://twitter.com/Icevolcanx/status/1723250122652311891

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: 1.0678 UP 0.0018

USA/ YEN 151.76 UP .347 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2239 UP 0.0020

USA/CAN DOLLAR: 1.3821 UP .0040 (CDN DOLLAR DOWN 40 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 7,56 PTS OR 0.25%

Hang Seng CLOSED UP 222,95 PTS OR 1.39%

AUSTRALIA CLOSED DOWN 0.44% // EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG DOWN 308.03 PTS OR 0.53%

/SHANGHAI CLOSED UP 7.56 PTS OR 0.25%

AUSTRALIA BOURSE CLOSED DOWN 0.44%

(Nikkei (Japan) CLOSED UP 17.00 PTS OR 0.05%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 1937.90

silver:$22.06

USA dollar index early MONDAY morning: 105.75 UP 3 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.413% DOWN 2 in basis point(s) yield

JAPANESE BOND YIELD: +0.874% UP 3 AND 3//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.767 UP 2 in basis points yield

ITALIAN 10 YR BOND YIELD 4.561 UP 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.7170 UP 2 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 1.0693 UP 0.0033 or 33 basis points

USA/Japan: 151.62 UP .206 OR YEN DOWN 21 basis points/

Great Britain/USA 1.2259 UP 0.0040 OR 40 BASIS POINTS //

Canadian dollar DOWN .0014 OR 14 BASIS pts to 1.3790

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The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.2913

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2940)

TURKISH LIRA: 28.59 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.874…VERY DANGEROUS

Your closing 10 yr US bond yield UP 3 in basis points from FRIDAY at 4.647% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.763 UP 3 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 5.054 DOWN 1 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 64.95 POINTS or 0.88%

German Dax : CLOSED UP 102.66 PTS OR 0.67%

Paris CAC CLOSED UP 42,66 PTS OR 0.61%

Spain IBEX UP 89.80 PTS OR 0.96%

Italian MIB: CLOSED UP 407.76PTS OR 1.43%

WTI Oil price 76.69 12: EST

Brent Oil: 81,00 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 91.62; ROUBLE UP 0 AND 67//100

GERMAN 10 YR BOND YIELD; +2.7170 UP 2 BASIS PTS

UK 10 YR YIELD: 4.3715 UP 2 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0702 UP 0.0042 OR 42 BASIS POINTS

British Pound: 1.2279 UP .0059 or 59 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.3585% DOWN 2 BASIS PTS//

JAPAN 10 YR YIELD: .872%

USA dollar vs Japanese Yen: 151.62 UP .207 //YEN DOWN 20 BASIS PTS//

USA dollar vs Canadian dollar: 1.3797 UP 16 CDN dollar DOWN 16 basis pts)

West Texas intermediate oil: 78.47

Brent OIL: 82.68

USA 10 yr bond yield UP 1 BASIS pts to 4.6344%

USA 30 yr bond yield UP 2 BASIS PTS to 4.750%

USA 2 YR BOND: DOWN 2 PTS AT 5.039 %

USA dollar index: 105.50 DOWN 22 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 28.60 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 91,62 UP 0 AND 62/100 roubles

GOLD 1945.60

SILVER: 22.31

DOW JONES INDUSTRIAL AVERAGE: UP 54.18 PTS OR 0.16%

NASDAQ DOWN 46,33 PTS OR 0.30%

VOLATILITY INDEX: 14.70 UP 0.53 PTS (3.74)%

GLD: $180.51 UP 1.00 OR 0.56%

SLV/ $20.43 UP .09 OR 0.44%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

Bonds & Stocks Shrug At Moody’s USA Credit Rating Downgrade, Oil & Gold Bounce

MONDAY, NOV 13, 2023 – 04:00 PM

Quiet on the macro side (inflation survey lower), snoozy on the geopolitical chaos (no WW3 over the weekend), and markets were in holiday mode with quiet volumes leaving bonds and stocks unch to slightly lower after Moody’s joined the rest of its ratings-imagineers and cut USA’s outlook to negative. Perhaps they just needed to look at the market’s perception of the sovereign risk ‘Murica….

Source: Bloomberg

The equity and bond market’s reaction to this warning so simple – “America, Fuck yeah!”

Futures were weak out of the fate after Sunday night’s open. Late in Asia a bid emerged, but that faded into the US cash open. The algos immediately stepped in and ramped all the majors to the highs of the day and that’s where they oscillated for the rest with some late-day selling pressure dragging the S&P red along with Nasdaq. By the close, only The Dow ended higher.

This ended the Nasdaq’s Monday win-streak at 19-straight weeks…

VIX was higher on the day, but we note the term structure of S&P vol shows significant event risk priced in for the next few days (CPI, Retail sales, etc)…

Source: Bloomberg

Treasuries the same, ending the day marginally better (down 2-3bps across the curve) after some chop higher in yields intraday with the short-end outperforming by a smidge…

Source: Bloomberg

The dollar was lower on the day with the bulk of the selling from 1000-12000ET…

Source: Bloomberg

Bitcoin leaked lower on the day, ending just below $37,000…

Source: Bloomberg

On the other hand, Ethereum rallied back above $2100…

Source: Bloomberg

Gold jumped higher…

Source: Bloomberg

…bouncing off its 200DMA once again…

Source: Bloomberg

Oil prices crept back higher for the second day in a row, with WTI back above $78…

Source: Bloomberg

Crucially, WTI rallied back above its 200DMA…

Source: Bloomberg

Finally, circling back to the start of this note, in a regime-shift from historical norms, the US Treasury yields are broadly trending higher with USA Sovereign credit risk…

Source: Bloomberg

Are the bond vigilantes back?

EARLY MORNING TRADING

TUCKER CARLSON

II USA DATA

Bank Loan Volumes Plunge Despite Huge Deposit Inflows, Fed Rescue Fund Usage Surges To New Record High

FRIDAY, NOV 10, 2023 – 04:40 PM

Regional bank stocks tumbled this week (in the face of market strength) amid a surge to new record highs for bank’s usage of The Fed’s emergency funding facility, and new inflows sending money-market fund assets to record highs.

Don’t show Bill Gross this chart…

Source: Bloomberg

So, with emergency fund usage soaring (and regulators set to force banks to The Fed instead of the FLHB for cheap funds), what shenanigans did The Fed get up to this week in ‘adjusting’ bank deposit dats (reminder of last week’s $51BN inflow magically created from a $33BN outflow)…

On a seasonally-adjusted basis, total bank deposits rose by $30.5BN last week…

Source: Bloomberg

However, drum roll please, non-seasonally-adjusted total bank deposits exploded $155BN higher (to the highest since April)…

Source: Bloomberg

And so for the second week in a row, Bank deposits and Money-Market funds saw ‘inflows’…

Source: Bloomberg

Removing foreign bank deposit flows, the picture for domestic bank deposits gets even more wild. A $13BN outflow NSA from foreign banks means domestic banks saw a massive $169BN inflow NSA last week (+$141.9BN Large banks, +$27.6BN Small Banks). A modest $6.8BN outflow SA from foreign banks means that domestic banks saw a $37BN inflow SA (+$42.3BN inflows for Large Banks but $6.1BN outflows for Small Banks)

Source: Bloomberg

That massive divergence smashed the total SA and NSA deposit outflows since the SVB crisis back towards each other (down $191BN and $226BN respectively)…

Source: Bloomberg

But here’s the fun bit – amid that massive influx of deposits – loan volumes plunges last week for Large and Small banks (-$5.4BN and -$22.6BN respectively)…

Source: Bloomberg

Finally, 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)…

Source: Bloomberg

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

III) USA ECONOMIC STORIES

Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’

Who could have seen that coming?

After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative from stable.

Source: Bloomberg

The key driver of the outlook change to negative is Moody’s assessment that the downside risks to the US’ fiscal strength have increased and may no longer be fully offset by the sovereign’s unique credit strengths.

In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.

Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability.

Moody’s does affirm the Aaa rating:

The affirmation of the Aaa ratings reflects Moody’s view that the US’ formidable credit strengths continue to preserve the sovereign’s credit profile.

First, Moody’s expects the US to retain its exceptional economic strength. Further positive growth surprises over the medium term could at least slow the deterioration in debt affordability.

Second, the US’ institutional and governance strength is also very high, supported in particular by monetary and macroeconomic policy effectiveness. While the adjustment of the US economy and financial sector to higher-for-longer interest rates is underway, policymakers have facilitated the transition through transparent and effective policy.

Finally, the unique and central roles of the US dollar and Treasury bond market in the global financial system provide extraordinary funding capacity and significantly reduce the risk of a sudden spiraling of funding costs, which is particularly relevant in the context of high debt levels and weakening debt affordability.

The US’ long-term local- and foreign-currency country ceilings remain unchanged at Aaa. The Aaa local-currency ceiling reflects a small government footprint in the economy, relatively predictable and reliable institutions, very low external imbalances and moderate political risks, all of which reduce the risks posed to non-government issuers by government actions or shocks that would commonly affect the government and the private sector. The foreign-currency ceiling at Aaa reflects the country’s strong policy effectiveness and open capital account which reduce transfer and convertibility risks to minimal levels.

Full Rationale for Outrlook cut:

ABSENT POLICY ACTION, FISCAL STRENGTH WILL DECLINE

The sharp rise in US Treasury bond yields this year has increased pre-existing pressure on US debt affordability. In the absence of policy action, Moody’s expects the US’ debt affordability to decline further, steadily and significantly, to very weak levels compared to other highly-rated sovereigns, which may offset the sovereign’s credit strengths.

Past increases in interest rates by the Federal Reserve will continue to drive the US government’s interest bill higher over the next few years. Meanwhile, although the government’s revenue base will rise in line with the economy as a whole, in the absence of specific policy action, this will occur at a much slower pace than the rise in interest payments.
Moody’s expects federal interest payments relative to revenue and GDP to rise to around 26% and 4.5% by 2033, respectively, from 9.7% and 1.9% in 2022. These projections factor in Moody’s expectation of higher-for-longer interest rates, with the average annual 10-year Treasury yield peaking at around 4.5% in 2024 and ultimately settling at around 4% over the medium term. The debt affordability forecasts also take into account Moody’s expectations that, absent significant policy changes, the federal government will continue to run wide fiscal deficits of around 6% of GDP near term and to around 8% by 2033, the widening being driven by higher interest payments and aging-related entitlement spending.

By comparison, deficits averaged around 3.5% of GDP from 2015-2019. Such deficits will raise the US federal government’s debt burden to around 120% of GDP by 2033 from 96% in 2022. In turn, a higher debt burden will inflate the interest bill.

For a reserve currency country like the US, debt affordability – more than the debt burden – determines fiscal strength. As a result, in the absence of measures that limit the size of fiscal deficits, fiscal strength will increasingly weigh on the US’ credit profile.

FISCAL RISKS ARE EXACERBATED BY ENTRENCHED POLITICAL POLARIZATION UNDERSCORING RISING POLITICAL RISK

At a time of weakening fiscal strength, there is an increased risk that political divisions could further constrain the effectiveness of policymaking by preventing policy action that would slow the deterioration in debt affordability. These risks underscore rising political risk to the US’ fiscal position and overall sovereign credit profile.

Recently, multiple events have illustrated the depth of political divisions in the US: renewed debt limit brinkmanship, the first ouster of a House Speaker in US history, prolonged inability of Congress to select a new House Speaker, and increased threats of another partial government shutdown due to Congress’ inability to agree on budgetary appropriations. In Moody’s view, such political polarization is likely to continue. As a result, building political consensus around a comprehensive, credible multi-year plan to arrest and reverse widening fiscal deficits through measures that would increase government revenue or reform entitlement spending appears extremely difficult.

While the US’ Aaa rating takes into account relative weaknesses with regards to the quality of the country’s legislative and executive institutions and fiscal policy effectiveness compared to other Aaa-rated sovereigns, there is a risk that these weaknesses take greater credit relevance because the deteriorating debt affordability trend would call for a more significant and effective fiscal policy response.

In particular, the US’ lack of an institutional focus on medium-term fiscal planning, either through legislated fiscal rules aimed at improving the fiscal balance or general bipartisan consensus on the need for fiscal consolidation, is fundamentally different from what is seen in most other Aaa-rated peers such as in Government of Germany (Aaa stable) and Government of Canada (Aaa stable). Meanwhile, the more short-term focus of US fiscal policymaking, along with limited fiscal flexibility – because a very large portion of nondiscretionary budgetary spending is on mandatory entitlement programs and debt service (around 75% of total outlays), exacerbates already fractious bipartisan politics around a relatively disjointed and disruptive budget process. As annual debt service costs continue to rise, fiscal flexibility will diminish even further.

And cue Janet Yellen to dismiss this as folly…

Not a great look as she “negotiates” with the Chinese.

end

If The Economy Is So Great, Why Are Tax Revenues So Weak?

MONDAY, NOV 13, 2023 – 08:30 AM

Authored by Ryan McMaken via The Mises Institute,

Federal deficits continue to spiral upward, but deficits aren’t just a function of federal spending. Deficits aren’t necessary if tax revenues increase to match spending. But that’s certainly not where we find ourselves in 2023. Rather, federal spending is rising even as federal revenues have fallen, year over year, for ten of the last twelve months. Moreover, on a quarterly basis, federal receipts have been falling—quarter-to-quarter—since the third quarter of 2022.

It’s long been known that there’s a pretty strong correlation between falling tax revenues and worsening economic conditions. Yet, even as tax revenues are falling, we’re being repeatedly told that the American economy is in great shape and there’s no recession in sight.

Yet, if we take a historical view, we can see how declining federal revenues have clearly coincided with recessions going back at least 40 years:

There have been some periods where revenues went slightly negative without an accompanying recession. But not in many decades do we see a situation where year-over-year revenue has fallen to the extent that it has fallen in recent months, without a recession following soon after. (For example, federal revenue dropped 26 percent, year over year, in April of this year, followed by a 21-percent drop in May.)

Most of the corporate media’s declarations of excellent economic conditions look no further than the trailing indicator of employment or consumer spending. Consumer spending, of course, continues to be fueled by rising debt levels while investment falls.

Tax revenues present a problem for the everything-is-swell narrative, however. This can partly be explained if we consider that federal revenues nowadays are heavily reliant on income taxes and payroll taxes. So, if wages and job growth were truly surging as the Bureau of Labor Statistics insists via its payroll survey, we’d be seeing more growth in taxes on wages and income. The fact federal revenues are falling suggests household incomes aren’t exactly soaring.

The fact tax revenues are weak and falling should not shock us if we’re actually paying attention, however. Real wages are lower now than they were in January 2020, before the beginning of the covid recession. Looking at CPI-adjusted average hourly wages, wages increased a whopping two cents from September 2022 to September 2023. Wages are down by .06 percent since January 2020 before the lockdowns. In other words, real wages have gone nowhere in years.

There may be a multitude of other factors as well, of course, but no matter what the specifics are, it’s difficult to deny that falling or weak tax revenues contradict narratives telling us how strong the economy is. Moreover, consumer spending as we now see it is also coinciding with a surge in corporate bankruptcies, a falling saving rate, and mounting consumer debt. The index of leading indicators is in recession territory. The inverted yield curve points to recession, and money-supply growth has crashed to its lowest levels since the Great Depression. Who would be surprised that tax revenues fail to impress? Only mainstream journalists and establishment economists.

end

another weak USA response!

(zerohedge)

US Launches 3rd Round Of Airstrikes On Eastern Syria, But ‘Deterrence’ Failing

MONDAY, NOV 13, 2023 – 09:30 AM

On Sunday the Pentagon carried out a third round of airstrikes against targets in eastern Syria, which US Defense Secretary Lloyd Austin described as “precisions strikes” against an Iran-linked training facility near Albu Kamal and a site near the city of Mayadeen.

“The President has no higher priority than the safety of U.S. personnel, and he directed today’s action to make clear that the United States will defend itself, its personnel, and its interests,” Austin said, presenting the new action as yet more retaliation for the series of attacks on US bases in the region since the Gaza war began.Via Reuters

The Sunday night statement further detailed these targeted facilities were “used by Iran’s Islamic Revolutionary Guard Corps (IRGC) and Iran-affiliated groups” believed behind most of the attacks on US installations in Iraq and Syria.

The day prior, US defense officials had revealed US bases have been targeted 48 times since October 17, which has resulted in 56 American service personnel injured, albeit with minor injuries.

The first major US airstrikes on eastern Syria occurred on October 27, with the second round following on November 8. The Biden administration had at first touted that these would “deter” further aggression on US troops, but have clearly not, given the missile and drone attacks have only continued.

US officials have meanwhile ratcheted their rhetoric against Tehran, saying the Iranians will ultimately be held responsible, but Tehran officials have denied being behind the spate of attacks.

Of last week’s strikes, a Pentagon press secretary said US airstrikes had taken out an “IRGC-linked weapons storage facility”. This was in response to rockets and suicide drones launched on US bases, which have totaled at least two dozen instances in Iraq and over two dozen instances in Syria.

Prior Fox News map showing installations where US troops are which have come under attack by regional militias…

“If these attacks continue against our personnel, we won’t hesitate at a time and place of our choosing to respond again,” deputy press secretary Sabrina Singh vowed at the time. Defense officials have further said that all or most of the over 50 US troop injuries have been minor, and that all have since returned to duty.

The US has had some 1,000 or more troops and personnel in Syria for years. Originally claiming a “counter ISIS” mission, the US “mission” quickly became an oil and gas resource grab – ultimately with an eye toward regime change in Damascus, via suffocating sanctions and diverting of domestic energy. Now there are fears US troops are fast getting drawn into broader conflict related to Israel’s operations in Gaza, and against Hezbollah in southern Lebanon.

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

FBI Seized NYC Mayor Eric Adams’ Phones, iPad

FRIDAY, NOV 10, 2023 – 07:20 PM

Authored by Catherine Yang via The Epoch Times,

An attorney for New York City Mayor Eric Adams confirmed on Friday that the FBI seized the mayor’s phones and an iPad as part of an investigation into his campaign financing.

“After learning of the federal investigation, it was discovered that an individual had recently acted improperly. In the spirit of transparency and cooperation, this behavior was immediately and proactively reported to investigators. The Mayor has been and remains committed to cooperating in this matter,” his attorney Boyd Johnson said in a statement.

“On Monday night, the FBI approached the mayor after an event. The Mayor immediately complied with the FBI’s request and provided them with electronic devices. The mayor has not been accused of any wrongdoing and continues to cooperate with the investigation.”

Mr. Adams also denied any wrongdoing in a statement.

“As a former member of law enforcement, I expect all members of my staff to follow the law and fully cooperate with any sort of investigation—and I will continue to do exactly that. I have nothing to hide,” he stated.

Last week, the FBI raided the home of Brianna Suggs, one of the mayor’s chief political consultants, after which the mayor also issued a statement that he was innocent of any wrongdoing.

“I feel extremely comfortable about how I comply with rules and procedures. I’ve stated this over and over again. I hold myself to a high standard, I hold my campaign to a high standard, and I hold my staffers at city hall to a high standard,” he said. He also said that Ms. Suggs was a “real professional” and would remain on his team for his 2025 reelection campaign.

“I am outraged and angry if anyone attempted to use the campaign to manipulate our democracy and defraud our campaign,” Mr. Adams said in the statement.

“I want to be clear, I have no knowledge, direct or otherwise, of any improper fundraising activity—and certainly not of any foreign money.”

A spokesperson for the U.S. attorney in Manhattan declined to comment.

Investigation

The FBI has not made public details of the investigation, but a search warrant was first reported by the New York Times, which reported that the federal investigation is related to alleged corruption in Mr. Adams’s 2021 campaign and possible ties to the Turkish government.

The seized devices, which the FBI has likely made copies of, were returned days later.

The mayor’s staff has confirmed that his office has met with the federal prosecutors, but did not disclose what they discussed.

After the raid on Ms. Suggs’s home, media reported that the relationship between the mayor’s 2021 campaign and Brooklyn-based KSK Construction Group’s ties to Turkey is the center of the probe.

The KSK Construction Group owns apartment buildings and condominiums throughout the city. It is owned by the KiSKA Construction Corp., a company that possesses two branches of a Turkish hotel chain in the United States.

Turkey

Mr. Adams has visited Turkey multiple times, including as part of official duties in different public offices.

“I’m probably the only mayor in the history of this city that has not only visited Turkey once, but I think I’m on my sixth or seventh visit to Turkey,” Mr. Adams said at a Turkish flag-raising ceremony in New York recently.

Two of those trips were made while he was the Brooklyn Borough President.

Campaign records show that he received donations from three members of a foundation opened by the son of the Turkish president.

At an event this week, the mayor answered reporters’ questions about the probe and his ties to Turkey.

“We just thought it was a great opportunity to exchange ideas as we do with all these…countries and we want to attract businesses here,” he said of the trips, according to The City.

“So Turkey as well as any other country, I want to attract people to the city. There’s nothing specific about that one particular country.”

He added that he frequently told his staff to “follow the law.”

“I just strongly believe you have to follow the law. It would really shock me if someone that was hired by my campaign did something that was inappropriate,” he said.

* * *

ZH: Well, that will be the last time Adams mentions the illegal immigrant crisis or the open borders…

end

What on earth is happening to the USA

(zerohedge)

Good Samaritan Arrested After Stopping NYC Subway Assault By Firing Warning Shots

SATURDAY, NOV 11, 2023 – 02:35 PM

A man with no criminal history who saved a woman from being attacked by a homeless man has been arrested and charged by the Manhattan DA with criminal possession of a firearm and reckless endangerment because he fired a warning shot, stopping the assault.

According to eyewitness accounts and security footage, John Rote, 43, drew a pistol and began firing shots after witnessing a man trying to steal a woman’s purse.

The suspect in the attempted robbery, Matthew Roesch, 49, was also arrested. Roesch was running scheme by which he would hold an emergency gate open to let riders avoid paying fees, and asked for money in return. Around 9 p.m. Tuesday, Roesch tried to grab a 40-year-old woman’s purse who refused to pay him, before Rote scared him off with his gun.

This incident raises questions about the adequacy of law enforcement in New York’s transit system. With crime rates on the rise and insufficient policing across major cities in America, ordinary citizens like Rote feel compelled to take matters into their own hands.

Officials, who aren’t protecting vulnerable citizens, are pissed.

“I’ve looked at the video,” said New York City Transit President Richard Davey at a news conference Wednesday. “It’s, I would say unusual. He sort of looks very calm, pulls out a gun, fires two shots, calmly puts the gun back in the bag and walks away.”

“The point is, that’s not what we need from anybody in this system,” Davey continued.

Mr. Rote is originally from West Virginia and has ties out of state, but no criminal history, according to the Manhattan District Attorney’s Office. His attorney did not respond to a request for comment.

“Thank goodness nobody was hurt here—but what happened was outrageous, reckless, and unacceptable,” Mr. Davey said in a statement released after Rote was arrested. -AP

The incident comes months after a Marine Corps veteran was arrested for putting a deranged homeless man in a chokehold on a New York City subway, which led to the man’s death.

Daniel Penny, the marine, says he didn’t intend to take Jordan Neely’s life, but he had to protect the frightened passengers after Neely threatened to kill people on the train.

“The man stumbled on, he appeared to be on drugs, the doors closed, and he ripped his jacket off and threw it down at the people sitting next to me at my left,” Penny said in the video.

“I was listening to music at the time, and I took my headphones out to hear what he was yelling,” he continued.

“The three main threats that he repeated over and over was ‘I’m going to kill you,’ ‘I’m prepared to go to jail for life,’ and ‘I’m willing to die.’”

Penny, who stands at 6 feet 2 inches tall, said he was intimidated by Neely, who was bigger than him and was shouting in the subway riders’ faces.

“There’s a common misconception that Marines don’t get scared. We’re actually taught, one of our core values is courage, and courage is not the absence of fear but how you handle fear,” he said.

“I was scared for myself, but I looked around, I saw women and children. He was yelling in their faces saying these threats. I just couldn’t sit still.”

* * *

“For evil to succeed, it is only necessary for good men to do nothing.” -Edmund Burke

END

THE KING REPORT

The King Report November 13, 2023 Issue 7117

Independent View of the News

The preliminary University of Michigan Sentiment for November sank to 60.4 from 63.8, a 6-month low. 63.7 was expected. Current Conditions fell to 65.7 from 70.6; 70.3 was consensus. Expectations dropped to 56.9 from 59.3; 61 was expected. Most strikingly: 1-year Inflation increased to 4.4% from 4.2%; 4% was expected. 5-10-year Inflation increased to 3.2% from the previous and expected 3.0%.

UM: Consumer sentiment slipped for the fourth straight month, falling 5% in November. While current and expected personal finances both improved modestly this month, the long-run economic outlook slid 12%, in part due to growing concerns about the negative effects of high interest rates. Ongoing wars in Gaza and Ukraine weighed on many consumers as well. Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment. In contrast, sentiment of the top tercile of stock holders improved 10%, reflecting the recent strengthening in equity markets… http://www.sca.isr.umich.edu/

US Consumer Long-Term Inflation Expectations Reach 12-Year High
Consumers expect prices will climb at an annual rate of 3.2% over the next five to 10 years, up from 3% a month earlier, according to the preliminary November reading from the University of Michigan. They see costs rising 4.4% over the next year, compared to last month’s 4.2%, according to data released Friday… https://www.bloomberg.com/news/articles/2023-11-10/us-consumer-long-term-inflation-expectations-reach-12-year-high#xj4y7vzkg

@KathyJones: U Mich notes: An index of buying conditions for durable goods slumped from a month earlier by the most since November of last year. A record 36% of consumers spontaneously blamed high borrowing costs or tight credit conditions for poor motor-vehicle purchase conditions.

Powell regularly asserts that the Fed is sensitive to inflation expectations. They are marching higher.
If the Fed were truly data dependent and not a smoking-blowing political cabal, it would have hiked the Fed Funds rate at the November 1 FOMC Meeting. Government-crafted inflation indices bottomed in the summer. Real inflation has steadily increased and wage hikes are proliferating.

The fact the consumer inflation expectations are rising while gasoline prices are falling is an anomaly and suggests that core & real inflation are proliferating. This should greatly trouble Powell and the WH.

@M_McDonough: University of Michigan Consumer Sentiment Index by Political Party Affiliation
https://twitter.com/M_McDonough/status/1723011854643912869

Biden Backer Says Democrats Can’t Just Rely on Bidenomics – BBG
Voters’ sour view of economy are colored by inflation, he (MN Gov. Walz) said

We opined months ago, that the dopey Team Obama-Biden staffers that coined Bidenomics and instructed The Big Guy to post ‘Bidenomics’ banners at his events – and to run on it while inflation was flaring – should have been fired for merely suggesting the idiotic strategy.

ESZs fell during early Nikkei trading, but they hit a daily low of 4354.25 at 19:34 ET. They methodically rallied until the 3 ET European opening. ESZs broke lower tat 3:44 ET and hit a bottom of 4356.00 at 6:32 ET. ESZs then surged higher on pump & dump buying, hitting 4386.25 at 9:41 ET. The dump and the UM inflation disappointment pushed ESZs to 4368.50 at 10:41 ET. However, someone poured into Fangs, driving Nasdaq to a 1.1% gain by the 11:00 ET.

Despite the horrible UM inflation indices, the usual suspects got extremely jiggy on trading sardines (Fangs), which boosted the general stock market.

Due to Fed leftists’ recent dovish pronouncements and Powell equivocations, the usual suspects are convinced that the Fed rate hike cycle is over – despite Powell’s hawkish remarks on Thursday. ‘They’ don’t respect Powell’s verbiage. Action is needed to halt the latest asset inflation that the Fed has spawned.  Fed action cannot occur until the December 13, FOMC Meeting.

In the meantime, with stocks soaring and inflation expectations rising, Fed officials will issue hawkish remarks – and the majority of stocks traders and operators will insouciantly dismiss Fed rhetoric.

After we wrote the above, this appeared:

(Very liberal SF Fed Pres) Daly Suggests Fed May Hike Again If Growth, Inflation Persist
If inflation “continues to move sideways, and the labor market and GDP growth remain solid or strong? Well, then we probably have to raise again,” Daly said Friday in an interview on CNBC. “If those things don’t happen, they come down and inflation comes and continues to come down to 2%, well, then that’s a different decision.”…
https://www.bloomberg.com/news/articles/2023-11-10/daly-suggests-fed-may-hike-again-if-growth-inflation-persist#xj4y7vzkg

ESZs and stocks ignored Daly’s remarks and jumped to new highs. ESZs soared to a daily high of 4435.50 at 16:00 ET. The S&P 500 closed above key 4400 resistance. Stocks are melting up.

After the NYSE close, Moody’s cuts U.S. outlook to negative (from stable), citing deficits and political polarization (Waited for after the close on a Friday to minimize market impact?)
https://www.cnbc.com/2023/11/10/moodys-cuts-usa-outlook-to-negative-citing-higher-interest-rates-and-deficits.html

USZs fell from 113 12/32 to 113 on Moody’s US credit downgrade. Just think of all those Treasury shorts that franticly covered last week, as well as long but wrong bulls that doubled down!

Biden officials reject Moody’s shift to ‘negative’ outlook, point to Republican ‘dysfunction’
(Nothing is ever Obama-Biden’s fault!)
https://www.reuters.com/world/us/biden-officials-reject-moodys-shift-negative-outlook-point-republican-2023-11-10/

House Republicans release their plan to avoid a government shutdown
The House is expected to vote on the bill as early as Tuesday. (No spending cuts or aid to Ukraine)
https://justthenews.com/government/congress/house-republicans-put-out-their-plan-avoid-government-shutdown

@MacroEdgeRes: With the latest stopgap spending plan by the House GOP – the government will add another $2 trillion in debt to the national debt by March 2024, marking the fastest increase in debt in % terms in U.S. history.

Positive aspects of previous session
Stocks rallied and Fangs soared on feverish trader buying
The S&P 500 breached 4400 and closed at 4415.24
Bonds rallied modestly

Negative aspects of previous session
Bonds lost most of their early rally: 114 1/32 high, 113 at 17:00 ET close, +1/32 for day
Stocks are bubbling up because of the Fed’s politically-inspired cowardice
Consumer inflation expectations are rising despite the decline in gasoline
Stocks are screaming that there are too many reserves in the system.

Ambiguous aspects of previous session
What will Powell et al do now that stocks are bubbling up and consumer inflation angst is rising?

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

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4395.54
Previous session S&P 500 Index High/Low: 4418.03; 4353.34

Newly found ‘kill switch’ triggers death of cancer cells in potential breakthrough
Scientists at the UC Davis Comprehensive Cancer Center in Sacramento, California, have identified a protein on the CD95 receptor that can “program” cancer cells to die, as detailed in a study published in the journal Cell Death & Differentiation last month…  https://trib.al/OcgE7NF

@committeeonccp: “For years, San Francisco residents have put up with rampant homelessness, open-air drug use, assaults and feces lined streets…   Suddenly, when a genocidal communist dictator comes to town… the streets get cleaned.” — Chairman @RepGallagher on Xi Jinping’s San Francisco visit

Only 2% of the 140K migrants who have come to NYC have applied for work permits https://trib.al/tRc1MpT

@LucasFoxNews (Saturday): Today: First visit by an Iranian leader to Saudi Arabia in 11 years
https://twitter.com/LucasFoxNews/status/1723381986503372936

@UPI: Netanyahu: Deal to free some hostages held by Hamas ‘could be’ in the works

Hamas suspends hostage negotiations after Israeli military encircles al-Shifa hospital – Guardian

@foxnewspolitics: US, Israel unsure how many Hamas hostages are ‘still alive,’ Jake Sullivan says

Fox’s @TreyYingst: Hezbollah continues to climb the escalation ladder against Israel. Anti-tank guided missiles, rockets, mortars, drones. Israeli officials tell me the northern efforts have been about defense. “Focused responses to ongoing attacks.” That could soon change.

Early Sunday night, US Secretary of Defense said Austin, “U.S. military forces conducted precision strikes today on facilities in eastern Syria used by Iran’s IRGC and Iran-affiliated groups in response to continued attacks against U.S. personnel in Iraq and Syria…”
https://twitter.com/Osinttechnical/status/1723837247902945563/photo/1

Today – Traders will play for the Monday Rally. However, beaucoup people are long bonds and stocks. Will the mystery manipulator save bonds and stocks?   If momentum selling appears, look out below, because many shorts have been covered. Retail earnings appear this week.

ESZs are -13.25 (US strike on Syria) and USZs are -15/32 (Moody’s downgrade) at 20:30 ET.

S&P 500 Index 50-day MA: 4338; 100-day MA: 4403; 150-day MA: 4332; 200-day MA: 4257
DJIA 50-day MA: 33,822; 100-day MA: 34,266; 150-day MA: 34,048; 200-day MA: 33,815
(Green is positive slope; Red is negative slope)

S&P 500 Index – Trender trading model and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 3828.58 triggers a sell signal
Weekly: Trender and MACD are negative – a close above 4425.18 triggers a buy signal
Daily: Trender and MACD are positive – a close below 4297.17 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 4386.37 triggers a sell signal

Biden criticized for appearing confused during Veterans Day ceremony
After laying a wreath at the Tomb of the Unknown Soldier on Saturday, Biden paused, walked away, then turned back and walked toward the soldier he placed the wreath by. The soldier then gestured to Biden in a manner that appeared he was directing the president where to go, and Biden walked away, video shows.
    Former Bush administration official Michael Brown asked Biden’s wife, Jill Biden, “Do you love him? Take him home,” in a post on X… Meanwhile, former acting U.S. National Intelligence Director Richard Grenell pointed out how ABC News’ Jonathan Karl “is mocking Donald Trump for being ‘confused,'” but “ignores President Biden in moments like this.”… https://t.co/7NOtryXGdy

Hunter Biden accountant aided IRS agents, alleged first son misrepresented income as late as 2020
As Joe Biden marched toward the presidency in 2020 with a promise to force the wealthy to pay their “fair share” of taxes, his son Hunter was scrambling behind closed doors to clean up a trail of his own delinquent taxes before they became an election scandal, according to once-secret IRS memos made public recently by Congress… Jeffrey Gelfound, an Edward White & Company tax accountant hired by Hunter Biden, was a cooperating witness in the IRS criminal probe of the first son and is likely to be a key witness if the younger Biden is charged with tax crimes by Special Counsel David Weiss. Gelfound also could become a witness of interest to the House Oversight and Accountability Committee as it digs deeper into the Biden family finances as part of the ongoing impeachment inquiry in Congress… https://t.co/DNUVj3CZdx

DOJ charges three men with running brothels that allegedly hosted politicians, military officers near DC – The affidavit alleges the high-end brothels operated out of several residences in Massachusetts, California and Virginia, including in apartment complexes just 30 minutes away from the nation’s capital… https://t.co/HZZatlvVgJ

@paulsperry_: Investigators suspect prostitution ring may have been part of Chinese espionage plot targeting high-tech government contracting centers like Cambridge and Tysons Corner

@TheChiefNerd (Sat): Hundreds of Pro-Palestine Protesters Are Outside Biden’s Delaware Home Chanting “No Ceasefire, No Vote” and “In November, We Remember.” https://t.co/lyscEsXCE2

@CollinRugg (Thursday night): New York Times building in New York has been stormed by pro-Palestine protesters who rioted & vandalized a police car… The pro-Palestine rioters called to “Free Gaza” and vandalized the police car with “KKK”…

@amuse (Friday night): Hamas supporters in NYC have surrounded Grand Central Station and are attempting to breach the outer doors to reach police officers sheltering inside. https://t.co/7z2PoiQquJ

@DrEliDavid: Yes, @elonmusk, that’s exactly what happened. Pro-Palestinians in New York tore down American flag  on Veterans day, and police nearby just watched and did nothing.

@NatPoliceAssoc: NYPD learned from 2020 that if they arrest rioters they’ll be internally investigated and punished while the City gives the rioters big checks. This is what leadership wants.

We learn hate for Israel on TikTok and Instagram say young protesters https://trib.al/u1L33FQ

@JoelWBerry: The leftist darlings at Facebook and TikTok have helped facilitate the most disgusting antisemitic cultural trend in my lifetime while pouring millions into making sure you don’t misgender or say Ivermectin works.

MIT Explains Why It Didn’t Suspend pro-Palestinian Students Threatening Jews: ‘Visa Issues’
They could face deportation…. https://www.haaretz.com/jewish/2023-11-11/ty-article/.premium/mit-on-why-it-didnt-suspend-pro-palestinians-students-threatening-jews-visa-issues/0000018b-be9b-df42-a78f-bfdb51c00000

@NEWSMAX: Israeli Prime Minister Benjamin Netanyahu is viewed favorably by a majority of likely U.S. voters, while more than two-thirds agree with his rejection of a ceasefire in the Gaza Strip, according to a new Rasmussen poll. (Bad news for Team Obama!) https://bit.ly/3G0rwHX

@MrAndyNgo: Huge crowd gathers for the Palestine “Million Man March” in London. The protesters were bussed in from all over the country. They’re going to target the US embassy. The direct action coincides with Remembrance Day/Veterans Day.  https://twitter.com/MrAndyNgo/status/1723328851994984901

@Imamofpeace: This is gold. A Palestinian mother sees images online showing her son injured. She races to the hospital only to find it all fake. He is fine, it’s just an act mommy. It’s called Pallywood.
https://twitter.com/Imamofpeace/status/1723788137501995505

Biden admin roasted for offering to pay Americans to send videos of their electric vehicles: ‘Beyond parody’ – ‘This is what desperation looks like,’ one expert said
https://www.foxnews.com/politics/biden-admin-roasted-offering-pay-americans-send-videos-electric-vehicles-parody

@LeadingReport: Democrats abruptly ended the investigation of Supreme Court Justice Clarence Thomas (For taking trips financed by GOP donors) after Republicans brought up a counter-subpoena suggestion of radical leftist megadonor George Soros and his son Alex.

@NBCPolitics: Florida Gov. Ron DeSantis says he believes going after an opponent’s children is “out of bounds” in political warfare. DeSantis, however, goes after President Biden’s son on a weekly basis.

Who is going to tell NBC Politics that President Biden’s child, Hunter, is 53 years old?

(NYC Mayor) Eric Adams had cellphones, iPad seized by FBI as part of corruption investigation
https://nypost.com/2023/11/10/metro/eric-adams-had-cell-phones-ipad-seized-by-fbi-as-part-of-corruption-investigation/
(Retribution for slamming Team Obama-Biden over the illegal immigration crisis?)

@JohnLeFevre: Not many people know that (Dem Rep from CA) Swalwell’s Chinese spy mistress – Fang Fang – died last year in that random plane crash caught on video.
https://twitter.com/JohnLeFevre/status/1722752143742939241

For decades, the media, due to liberal and Dem privilege, has allowed Dems to utter absurd Schiff.

@RNCResearch: Democrat Rep. Jim Clyburn says Biden’s lackluster support among Black Americans in recent polling is because of the “conservative, MAGA-leaning Supreme Court.”
https://twitter.com/RNCResearch/status/1723106649110372430

@emeriticus: Why did Trump side with Ronna (as RNC Chair)? A few reasons. Right Coast Strategies, a consulting firm led by senior Trump advisor Susie Wiles, has been paid $285,000 by the RNC since last summer, FEC filings show. Trump had Susie whip for Ronna.
    Ronna has also used the RNC to bankroll Trump’s legal bills to the tune of millions of dollars. So Trump and Trump’s top lieutenant, Susie Wiles, have had financial motives for keeping Ronna in power.

@bennyjohnson: Ronna McDaniel fawns over NBC hack Kristen Welker and tells her “Thank you for being part of that because this is the time where we met the moment” (at debate). Why is the RNC chair sucking up to corporate media?  This is why we lose and why we need new leadership. https://t.co/hjNJurfi5S

@AFP: Pope Francis on Saturday dismissed Texas bishop Joseph Strickland, a prominent conservative who has repeatedly criticised his papacy, the Vatican announced. (Catholicism is in crisis, due to pope.)

@NEWSMAX: The probe came after Strickland, 65, had been posting social media messages and making other announcement critical of the Pope’s support of radical left-wing changes to Church teachings. https://t.co/SCq0G4WqXD

@TheBabylonBee: Pope Francis Fires Bishop for Being Too Catholic

@AnnCoulter: Woman being mugged (NYC) is saved by a Good Samaritan with a gun.  Her response? “I do think he is a hero, but I don’t know, I would likely think him a bigger hero if he tried to help me without the gun.”

California sheriff loses it on major retailer (Target) for blocking cops from nabbing shoplifters
Cooper said Target, one of the largest retailers in the U.S., reached out to his office multiple times requesting assistance with shoplifters, who the sheriff said were frequently “known transients.”
   The sheriff’s office and Target worked to conduct an operation at the store to nab shoplifters, but the plan apparently crumbled after Target leaders made a list of rules for where and how deputies and detectives could arrest the suspects…. (Where are the major shareholders?)

GREG HUNTER INTERVIEWING STEVE QUAYLE

usawatchdog.com/america-attacked-on-all-fronts-wwiii-underway-steve-quayle/

America Attacked on All Fronts, WWIII Underway – Steve Quayle

By Greg Hunter On November 11, 2023 In Market Analysis, Political Analysis87 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle says just about every aspect of American life is under attack by Deep State demonic globalists who want to “take down America.” Let’s start with the U.S. banking system that is teetering on insolvency and locked in a growing liquidity crisis. Quayle explains, “This is a watershed moment in the world today. In the world of financial happenings and events, we are watching the takedown, breakdown and total onslaught by multiple nations, namely the BRICs nations with total abandonment of the U.S. dollar. World War III is underway. . . . It’s happening before our eyes, and the mainstream media, which is an accessory to genocide, do not report anything accurately. . . . For the first time in the history of federal banking, the ACH (automated clearing house) problem happened . . . multiple millions of people, from my sources, were waiting to get paid their paychecks. For the first time in history, you know what the Fed said to the banks? ‘It’s your problem. You deal with it.’ I believe the Fed is in survival mode. It’s treading water. There is simply no more money to back up the big 5 or the big 12 banks. We are seeing a focused liquidity crisis in the United States of America. Our T-Bonds, T-Bills and T-Notes are selling at horrific discounts. What people need to understand is banks of all sizes park their excess capital or their client’s funds in T-Bonds, Bills and Notes . . . and when the value goes down, that puts them into a position of financial jeopardy. . . . We are watching a breakdown, a takedown and a meltdown of the Federal Reserve Bank. . . . You need to get out of the big banks, and you need to get out of online banking because of cyberattacks and hacks . . .and the U.S. dollar is being vomited out by other nations.”

Another huge ongoing attack is at the southern border. Quayle says, “I think what we are watching is the displacement of the American citizen and replacement by everyone else. You can’t deny this. The people orchestrating this are demon possessed, supernatural evil people, hellbent on destroying the United States from within.”

Quayle says there is a covert move by Deep State globalists that are wanting to shut down alternative news and conservative websites. Quayle says, “They not only want to shut us down, but they want to shut us up. Remember, ladies and gentlemen, when they shut down free speech and shut down free thinkers and speakers, then the world you thought you lived in has come to an ultimate crash with reality.”

Quayle says the coming war will see the need to “reinstate the draft” because Lucifer hates humanity and wants more to die. Look for a new techno feudalism to control society. Quayle also predicts a massive loss of jobs, and at some point, you will see a million jobs disappear in a single day because companies will have to cut costs quickly as the economy implodes. He also contends there will be a continued takedown of Donald Trump throughout 2024. The evil Deep State will continue to do anything and everything to stop Donald Trump from running for president again.

In closing, Quayle says, “This is the reality of Biblical, End Times. . . . Resist evil . . . Never believe the lie ‘aliens made us.’ They did not make us. . . . and put your faith in Jesus Christ. He’s the real Savior of the world.”

There is much more in the 1-hour and 13-minute interview.

Don’t miss the new deals and huge savings which can be found on Sat123.com & BeReady123.com.

Join Greg Hunter of USAWatchdog.com when he goes One-on One with radio host, filmmaker and top selling author Steve Quayle as he warns about hard times of Biblical proportions coming to America with World War III that is underway for 11.11.23.

After the Interview:

SEE YOU TUESDAY

Shanghai Gold Benchmark Price

USD AM2006.49

PM2008.04

Historical SGE Fix

GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 372 NOTICES FOR 37,200 OZ or 1.1572 TONNES

total notices so far: 1959 contracts for 195,900 oz (6.0933 tonnes)

FOR NOV:

SILVER NOTICES 110 NOTICE(S) FILED FOR 550,000 OZ/

total number of notices filed so far this month : 545 for 2,725,000 oz

Peter Schiff: Things Are Even Doomier And Gloomier Than They Look

Robert Lambourne: BIS gold swaps fell 28 tonnes in October as U.S. debt burden soared

GATA secretary reviews gold market intervention undertaken through BIS

‘Cocoa Mayhem’ Sends Prices To $4,000 Per Ton, Highest Since 1978

US Futures Drop, Europe Gains Ahead Of Key CPI Data

European bourses bid whilst US Futures slip, AUD bid & Crude bounces; Fed’s Cook due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

Anatomy Of A Paris Demo

Pro-Palestinian rally on Armistice Day: Insult to British society, threat to Jewish community

More than 300,000 people joined the pro-Palestinian rally, which turned violent and resulted in around 140 arrests.

Understanding Armistice Day

Cabinet ‘Reset’: Britain’s Home Secretary Fired, David Cameron Returns To Gov’t

Israel mustn’t stop war on terrorists who cut off heads – British DS

The UK Defense Secretary compared the IDF aerial bombings of Gaza with the British and American bombing of the German city of Dresden during World War II.

Calls for a ceasefire

IDF kills Hamas commander who held Gazans hostage at Al Rantisi Hospital

Ahmed Siam was killed while hiding in a school.

Siam was struck while hiding in a school

Terrorist organizations in Gaza responsible for hitting Al-Shifa Hospital – IDF spokesman

Verified social media shows dead and wounded at Gaza’s Shifa hospital

WHO: Gaza’s Al Shifa hospital ‘coming under bombardment’

Gaza missile slams into Shifa hospital, IDF dismantles Hamas outpost

1,200 Israelis murdered since October 7, including 356 soldiers • 239 held hostage by Hamas, four hostages released, one rescued

Seven Hezbollah Fighters Killed In Syria After Expanded Israeli Airstrikes On ‘Iran Axis’

Netanyahu: ‘Hamas lost control of northern Gaza, PA can’t run the Strip’

Prime Minister Benjamin Netanyahu ruled out the possibility of the Palestinian Authority controlling Gaza. * Finance Minister Bezalel Smotrich called to freeze the PA’s funds.

No possibility of the PA controlling Gaza

Hamas planned to push October 7 massacre to the West Bank border – report

Under Hamas’s original plan, it would have hit many other major Israeli cities and IDF bases and go as far as the West Bank, where it has allies in the form of local terrorist cells.

Hamas planned to go much farther into Israel on October 7

Israel strikes over 4,300 terror targets as Gaza operation rages

IDF in Gaza: Weapons found in children’s bedroom, university • Israeli military strikes over 300 tunnel shafts, thousands of Hamas headquarters

IDF in Gaza: Weapons found in children’s bedroom, university

Palestinians ‘Disappointed’ Hezbollah Hasn’t Escalated A Northern War On Israel

Gallant: Hamas has lost control of Gaza, terrorists fleeing south

After completing a situational assessment in which he emphasized the progress of IDF soldiers in fighting in Gaza.

IDF breaks Hamas’s effectiveness

Israel Declares Hamas Has ‘Lost Control Of Gaza’ As Biden Urges ‘Less Intrusive’ Action At Hospital

IDF soldiers share photo in conquered Hamas parliament

In the moving picture, the team of fighters can be seen proudly waving Israeli flags in the terrorist organization’s legislative council building

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END

Better places than Gaza for humanitarian service

Drastically Different Narratives Emerge Centered On Shifa Hospital’s Mounting Deaths

IDF attacks have broken effectiveness of 10 of 24 Hamas battalions

Military gives 1st official estimate of Hamas’s total forces since start of war.

Hamas and Islamic Jihad’s dwindling numbers

IDF soldiers kill 21 terrorists in Al-Quds Hospital in Gaza City

IDF in Gaza: Weapons found in children’s bedroom, university • Israeli military strikes over 300 tunnel shafts, thousands of Hamas installations

Weapons cache found in child’s bedroom of senior PIJ official

“Antisemitism Has No Place Here” – Harvard President Condemns “From The River To The Sea” Phrase After 1600 Jewish Alum Pull Donations

Luongo: The Evolving Battle Lines In The Middle East

Egypt’s Play

Turkey’s Big Move

The World’s Choice

Map Shows Another Key Ukraine City Almost Fully Encircled By 40K Russian Troops

Escobar: Another Snapshot Of Kiev’s Military Collapse: But It Ain’t Over Yet

A moral-psychological debacle

Ben Gurion Canal Project

Route[edit]

Worth listening to

Four Los Angeles sheriff’s officials found dead in apparent UNRELATED suicides? All at once? And we are to not be concerned? This makes no sense to me, something is very very wrong then in that State

& police force; can you comment?

BREAKING: Former FC Zurich player Raphael Dwamena (28 years old) has just passed away after collapsing on the pitch in the Albanian League; this is tragic! did Dwamena die due to the mRNA technology