NOV 17/GOLD CLOSED DOWN $1.85 TO $1982.10//SILVER WAS DOWN 6 CENTS TO $23,77/PLATINUM WAS UP $6.00TO $898.95 WHILE PALLADIUM WAS UP $30.35 TO $1055.50//GOOD GOLD AND SILVER COMMENTARIES TODAY FROM MIKE MAHARREY, PETER SCHIFF AND TED BUTLER//ANDREW MAGUIRE DOES A GREAT PODCAST: LIVE FROM THE VAULT//CHINA’S REAL ESTATE ECONOMY SPINNING OUT OF CONTROL//ISRAEL VS HAMAS UPDATES//JORDAN VS USA/ISRAEL UPDATE//YEMEN VS ISRAEL//ISRAEL ATTACKS DAMASCUS//COVID UPDATES/VACCINE INJURY REPORT//DR PAUL ALEXANDER//SLAY NEWS ETC//SWAMP STORIES FOR YOU TONIGHT//
GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 242 NOTICES FOR 24,200 OZ or 0.7527 TONNES
total notices so far: 1292 contracts for 129200 oz (4.018 tonnes)
FOR NOV:
SILVER NOTICES 2 NOTICE(S) FILED FOR 10,000 OZ/
total number of notices filed so far this month : 820 for 4,100,000 oz
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END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES
GLD
WITH GOLD DOWN $1.85//
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / NO CHANGES IN GOLD INVENTORY AT THE GLD:
INVENTORY RESTS AT 870.45 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 6 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1,824,000 OZ OF SILVER FROM THE SLV////
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 438.936 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A GOOD SIZED 430 CONTRACTS TO 134,964 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS GOOD SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR REALLY STRONG $0.38 GAIN IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD HUGE SPEC SHORT COVERING EPISODE IN THURSDAY’S COMEX TRADING.. TAS ISSUANCE WAS A GIGANTIC SIZED 1781 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON THURSDAY NIGHT: 1,781 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.39). AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUMONGOUS SIZED GAIN OF 1235 OI CONTRACTS ON OUR TWO EXCHANGES AS THE SPEC SHORTS TRIED AGAIN DESPERATELY TO COVER THEIR SHORTFALLS WITH ZERO SUCCESS.THEY HAVE BEEN SENT TO THE SLAUGHTERHOUSE
WE MUST HAVE HAD:
A HUGE SIZED 805 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 1500 OZ QUEUE JUMP +0 EXCHANGE FOR RISK ISSUANCE FOR 0 MILLION OZ//NEW EXCHANGE FOR RISK 1.245 MILLION
//NEW STANDING FOR SILVER IS THUS 4.165 MILLION OZ + 1.245 (EX. FOR RISK) = 5.410 MILLION OZ.
//HUGE SIZED COMEX OI GAIN/ HUGE SIZED EFP ISSUANCE/VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1781 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED A HUGE 1029 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 13 days, total 5138 contracts: OR 25.690 MILLION OZ (395 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 25.690 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. 25.690 MILLION OZ (GOING TO BE QUITE SMALL THIS MONTH)
RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 430CONTRACTS WITH OUR STRONG GAIN IN PRICE OF $0.38 IN SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE 805 EFP ISSUANCE CONTRACTS: 805 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 15,000 OZ QUEUE JUMP
NEW STANDING 4.1650 OZ + 1.245 MILLION OZ EXCHANGE FOR RISK: NEW TOTAL 5.410 MILLION OZ/// /// WE HAVE A HUGE SIZED GAIN OF 1235OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1781CONTRACTS//LITTLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX SESSION. THE NEW TAS ISSUANCE THURSDAY NIGHT A HUGE (1781) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .
WE HAD 2 NOTICE(S) FILED TODAY FOR 10,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 4772 CONTRACTS TO 488,476 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: – REMOVED A HUGE 2725 CONTRACTS
WE HAD A STRONG SIZED INCREASE IN COMEX OI ( 4772 CONTRACTS) WITH OUR $22.70 GAIN IN PRICE//THURSDAY. 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 900 OZ E.F.P. JUMP TO LONDON + TODAY’S 0 CONTRACT ISSUANCE OF EXCHANGE FOR RISK FOR 0.0 TONNES// //TOTAL EXCH FOR RISK: 3.8125 TONNES/PRIOR // TOTAL GOLD STANDING FOR NOV: 4.1959TONNES + 3.8125 TONNES (EX. FOR RISK) = 8.0084 TONNES // ALL OF..THIS HAPPENED WITH OUR $22.70 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING.WE HAD A VERY STRONG SIZED GAIN OF 10,213OI CONTRACTS (31.766PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2716CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 488,476
IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7,488 CONTRACTS WITH 4772 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 2716 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7488 CONTRACTS OR 23.29 TONNES. WE HAD 0 EXCHANGE FOR RISK 0.0 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1359 CONTRACTS.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2716 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI (4772) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 7488 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 4.1959 TONNES FOLLOWED BY TODAY’S 900 OZ E.F.P. JUMP TO LONDON: NEW STANDING 4.1959 TONNES + 3.8125 TONNES EXCHANGE FOR RISK PRIOR /THUS NEW TOTAL FOR GOLD STANDING: 8.0084 TONNES // /// 3) ZERO LONG LIQUIDATION AND LITTLE TAS LIQUIDATION AND WE HAD ATTEMPTED SPEC SHORT COVERINGS DURING THE COMEX SESSION AS THE SPECS WERE “FRIED” TODAY //4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 1359 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: 40,396 CONTRACTS OR 4,039,600 OZ OR 125.65 TONNES IN 13 TRADING DAY(S) AND THUS AVERAGING: 3107 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 13 TRADING DAY(S) IN TONNES 125.65 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 125.65/3550 x 100% TONNES 3.54% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 125.65TONNES//
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPT. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF MAY HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF JUNE., FOR BOTH GOLD:
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (SEPT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.Today, we had the open interest at the comex, in SILVER ROSE BY A GOOD SIZED 430CONTRACTS OI TO 134,924 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 805 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 805 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 805 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 430 CONTRACTS AND ADD TO THE 805 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1235 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 6.175 MILLION OZ
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//
FRIDAY MORNING//THURSDAY NIGHT
SHANGHAI CLOSED UP 3.44 PTS OR 0.81% //Hang Seng CLOSED DOWN 378.63 PTS OR 2.12% /The Nikkei CLOSED UP 160.79 PTS OR 0.48% //Australia’s all ordinaries CLOSED DOWN 0.12 % /Chinese yuan (ONSHORE) closed UP AT 7.2119 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.2172 /Oil DOWN TO 73.87 dollars per barrel for WTI and BRENT DOWN AT 78.46/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 4772 CONTRACTS TO 488,476 WITH OUR HUGE GAIN IN PRICE OF $22,70 WITH RESPECT TO THURSDAY 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 2716 EFP CONTRACTS WERE ISSUED: : DEC 2716 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2716CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 7,488 CONTRACTS IN THAT 2716 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 4772 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $22.70//THURSDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A FAIR SIZED 1359 CONTRACTS. THROUGHOUT THE PAST WEEKS, THE BANKERS SOLD OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR SPREAD WHICH WILL BE LIQUIDATED TWO MONTHS HENCE)//.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: NOV (8.0084 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
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $22.70) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A VERY STRONG SIZED GAIN OF7,488TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A SMALL T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING. THE T.A.S. ISSUED ON THURSDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED SOME SPECULATOR SHORT COVERING
WE HAVE GAINED A TOTAL OI OF 23.29 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 900 OZ E.F.P. JUMP TO LONDON //NEW TOTALS STANDING:4.1959 TONNES + .00 exchange for risk today +3.8125 EXCHANGE FOR RISK/PRIOR; NEW TOTAL STANDING: 8.0094 TONNES ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $1.00. 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.
WE HAD REMOVED – A HUGE 2725 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 7488 CONTRACTS OR 748,800 OZ OR 23.29 TONNES.
Total monthly oz gold served (contracts) so far this month
1292 notices 129,200 oz 4.018 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; 1
removal from eligible 699.52 oz manfra accounting error
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.
For the front month of NOVEMBER we have an oi of 185 contracts having LOST 11 contracts. We had 2 contracts filed on THURSDAY, so we LOST 9 contracts or an additional 900 oz will NOT stand for delivery at the comex in this NON active delivery month of NOVEMBER as they were immediately EFP.d to London for delivery over there.. 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 6897 contracts DOWN to 213,474 contracts. The Dec OI is unusually high with less than two weeks before FDN
JAN. gained 4 contracts RISING TO 2469 contracts.
We had 242 contracts filed for today representing 24,200 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 242 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 11 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 (1292 x 100 oz ), to which we add the difference between the open interest for the front month of NOV. (185 CONTRACTS) minus the number of notices served upon today 242 x 100 oz per contract equals 134,900 OZ OR 4.1959 TONNES + .0 TONNES EX FOR RISK TODAY/3.8125 TONNES EX. FOR RISK/PRIOR: total ex. for risk = 3.8125//THUS TOTAL STANDING: 8.0084 TONNES (corrected)
thus the INITIAL standings for gold for the NOV.contract month: No of notices filed so far (1292) x 100 oz + (185) {OI for the front month} minus the number of notices served upon today (242) x 100 oz) which equals 134,900oz standing OR 4.1959 TONNES + 3.8125 EX FOR RISK FOR MONTH = 8.0084 TONNES (corrected)
TOTAL COMEX GOLD STANDING: 8.0084 TONNES WHICH IS HUGE FOR AN ACTIVE BUT GENERALLY WEAK DELIVERY MONTH. (OCT). Somebody is after a considerable amount of gold from the comex.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED: 19,882,500.900.136 OZ
TOTAL REGISTERED GOLD 10,060.788.902 (312.93 tonnes)..cme corrected
TOTAL OF ALL ELIGIBLE GOLD: 9,822,111.254 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 8,215,842(REG GOLD- PLEDGED GOLD) 255.54 tonnes//dropping like a stone
END
SILVER/COMEX
NOV 17
//2023// THE NOV 2023 SILVER CONTRACT
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
nil oz
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
599,425.190 oz CNT
No of oz served today (contracts)
2 CONTRACT(S) (10,000 OZ)
No of oz to be served (notices)
13 contracts (65,000 oz)
Total monthly oz silver served (contracts)
820 Contracts (4,100,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month
i) 0 dealer deposit
total dealer deposit: 0
total: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 deposits customer account:
i)Into CNT: 599,425.190 oz
total customer deposit 599,425.190 oz
JPMorgan has a total silver weight: 134.441 million oz/266.755 million or 50.37%
Comex withdrawals 0
total: nil oz
adjustments: 3 of which two are dealer to customer
Brinks: 921,295.764 oz
JPMorgan: 552,476.934 oz
and one adjustment: customer to dealer CNT
i) 69,507.749 oz
net dealer to customer: 1,374,469.949 oz
TOTAL REGISTERED SILVER: 38.258 MILLION OZ//.TOTAL REG + ELIGIBLE. 266.519 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR August:
silver open interest data:
FRONT MONTH OF NOV /2023 OI: 15 CONTRACTS HAVING GAINED 3 CONTRACT(S). WE HAD 0 NOTICES FILED ON THURSDAY, SO WE GAINED 3 CONTRACTS OR AN ADDITIONAL 15,000 OZ WILL STAND FOR SILVER IN NOVEMBER AT THE COMEX
DEC. LOST 1924 CONTRACTS TO STAND AT 60,422
JANUARY GAIND 74 CONTRACTS TO STAND AT 956
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000 oz
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 820 x 5,000 oz = 4,109,000 oz
to which we add the difference between the open interest for the front month of NOV. (15) and the number of notices served upon today 2 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the NOV/2023 contract month: 820 (notices served so far) x 5000 oz + OI for the front month of NOV (15) – number of notices served upon today (2 )x 500 oz of silver standing for the NOV contract month equates to 4.1650 MILLION OZ +0 MILLION OZ EXCHANGE FOR RISK TODAY + 1.245 MILLION OZ (EXCHANGE FOR RISK/PRIOR) =5.410 MILLION OZ
There are 38.258 million oz of registered silver.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44
END
GLD AND SLV INVENTORY LEVELS//
BOTH GLD AND SLV ARE MASSIVE FRAUDS!
NOV 17/WITH GOLD DOWN $1.85 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / // // INVENTORY RESTS AT 870.45 TONNES
NOV 16/WITH GOLD UP $22.70 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / // // INVENTORY RESTS AT 870.45 TONNES
NOV 15/WITH GOLD DOWN $1.00 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD:/ / // // INVENTORY RESTS AT 870.45 TONNES
NOV 14/WITH GOLD UP $16.35 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD:/ / // //A DEPOSIT OF 2.3 TONNES OF GOLD INTO THE GLD// INVENTORY RESTS AT 870.45 TONNES
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
GLD INVENTORY: 870.45 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
NOV 17/WITH SILVER DOWN 6 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1,824,000 OZ FROM THE SLV//://// //INVENTORY RESTS AT 438.936 MILLION OZ
NOV 16/WITH SILVER UP 38 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 778,000 OZ FROM THE SLV//://// //INVENTORY RESTS AT 440.768 MILLION OZ
NOV 15/WITH SILVER UP 39 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV://// //INVENTORY RESTS AT 441.587 MILLION OZ
NOV 14/WITH SILVER UP 78 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 183,000 OZ INTO THE SLV ////// //INVENTORY RESTS AT 441.587 MILLION OZ
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
CLOSING INVENTORY 438.936 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
Einhorn has learned his lesson: he is turning to gold and it is physical gold in his portfolio
(Mike Maharrey)
Einhorn Turns To Gold: Investors ‘Are Too Complacent About Geopolitical Uncertainty’
Greenlight Capital reported a major increase in its exposure to gold as the hedge fund’s founder worries about the direction of the markets. In a Q3 letter to investors, David Einhorn expressed concern about geopolitical uncertainty, the rising price of oil, and inflation.
Greenlight famously shorted Lehman Brothers before its 2008 failure.
According to third-quarter 13-F filings with the Securities and Exchange Commission, Greenlight plunged $34.9 million into SPDR Gold Trust, the world’s largest gold-backed ETF. That increased the fund’s stake in the ETF by 89.2%, a record exposure to gold for Greenlight.
The hedge fund also reportedly holds a significant amount of physical gold, which is not subject to 13-F reporting.
ETFs such as SPDR are backed by physical gold held by the issuer and are traded on the market like stocks. They allow investors to play gold without having to buy full ounces of gold at the spot price. Since their purchase is just a number in a computer, they can trade their investment into another stock or cash pretty much whenever they want, even multiple times on the same day. Many speculative investors appreciate this liquidity.
There are good reasons to invest in ETFs, but they aren’t a substitute for owning physical metal. In an overall investment strategy, SchiffGold recommends buying gold bullion first.
Greenlight’s increased exposure to gold appears to be a shift into a safe haven strategy. The hedge fund also cut exposure to its two biggest holdings, homebuilder Green Brick Partners and Pennsylvania coal miner Consol Energy.
In his Q3 letter, Einhorn said investors are too complacent about geopolitical uncertainty.
The complacent investor view that geopolitics should be ignored might be true, except for the times when it isn’t. We suspect we are in one of those times. If we are right, current extreme levels of geopolitical tension will lead to lower stock prices over a timeframe that lasts more than a couple of hours.”
He also expressed concern about rising oil prices and resulting price inflation.
Higher oil prices would squeeze the consumer and likely cause a recession. The resulting inflation would also put the Federal Reserve in the uncomfortable position of having to fight rising prices at a time of rising unemployment. This leaves the market outlook very concerning.”
Greenlight Capital reported returns of 27.7% through the first nine months of 2023.
end
Peter Schiff: The Death Of Inflation Is Greatly Exaggerated
The October CPI came in lower than expected, sparking a rally in stocks, bonds, and gold. Cooling prices reinforced the belief that the Federal Reserve won the inflation fight and the rate hiking cycle is over. In his podcast, Peter Schiff explained why the demise of inflation is greatly exaggerated.
The consensus was for a 0.1% increase in prices last month. The actual number was flat at zero. Peter wasn’t impressed.
It’s one month. Who cares? And it’s a government index, so it’s meaningless anyway.”
The annual rise in CPI was 3.1%, slightly below the 3.2% projection. Core inflation also came in just a tick below expectations. Peter reiterated that this hardly seems like a cause for celebration. Nevertheless, Wall Street reacted with glee, sparking an immediate rally.
As a result of these numbers, which were almost exactly what everybody thought they were going to be, the expectations for a rate hike have plunged. And the expectations for 2024 rate cuts have moved up quite a bit. So, as a result of this supposedly great news on inflation, the markets believe the Fed is pretty much done, that the war on inflation has been won, the Fed has been victorious, and now it can start taking its troops off the battlefield by cutting rates.”
Peter said the markets are “completely wrong.” He noted that core CPI remains double the Fed target of 2%, and he said there is nothing indicating we’re heading toward two.
Just because we’re at four now doesn’t mean we’re going to two. We could just as easily double and go back up to eight. There’s no reason to just conclude that that’s where we’re headed. But even at four, we’re still way above the Fed’s target of 2%.”
It’s important to remember that even if prices are rising more slowly, they continue to rise.
If Americans can’t afford to buy stuff at the current price, well, it’s even less affordable when the current price goes up. Prices have gone up dramatically over the last two or three years. Real relief would require prices to come down so that some of these gains are reversed.”
Peter emphasized that the CPI data doesn’t prove the Fed is winning anything. He said we’re really just in the process of bottoming.
This is trough inflation. These numbers are banging around the bottom and we’re getting ready to start to move higher. And so we’re going to start to move further and further away from the Fed’s 2% target, not closer to it.”
Peter reiterated that the data does not mean the Federal Reserve is winning the war on inflation.
That is a war it cannot win.”
The big drop in the dollar after the CPI data came out is one of the reasons. Why did the dollar drop? Because the markets believe the Fed will relent on interest rate hikes and pivot to cuts.
The paradox is they wanted dollars when inflation was a problem and the Fed was fighting it. That’s when they should have wanted to get rid of dollars. Because, by definition, inflation means the dollar is losing its purchasing power. So, why would you want to buy something that’s losing its purchasing power? That is the irony of the foreign exchange market. That’s how they work now. It doesn’t matter about the dollar’s purchasing power. What matters is the direction of interest rates.”
The strength of the dollar helped do the Fed’s work. As the dollar rose, commodity prices dropped, driving the CPI lower.
The gains that have been made with respect to measuring inflation have been because of the strong dollar. But here’s the problem; the minute the Fed claims victory, or even the markets think that the Fed is winning, even before the Fed actually declares ‘mission accomplished,’ the markets start trading down the dollar. The dollar starts to fall. As long as the markets think the Fed is winning, the dollar will keep falling. It was when they thought the Fed was losing that they wanted to buy dollars because that meant the Fed was going to fight harder and have to raise rates. But if the fight is over and the Fed has won, well, then there are no more rate hikes.”
If the Fed confirmed market sentiment and publicly declared victory, the dollar would fall through the floor. That would send commodity prices much higher, pressuring CPI higher.
The minute the Fed is winning, they lose. … There is no way to win this war because the minute they stop fighting, inflation strengthens. So, in order to keep the inflation forces at bay, if they can, they can never let up. They have to keep on hiking rates.”
Peter said the markets also fail to grasp the fact that up until the last 18 months, the Federal Reserve aggressively created inflation for more than a decade with artificially low interest rates and quantitative easing. That was the central bank’s policy goal.
When you spend 15 years creating inflation, you don’t erase that inflation with one year’s worth of rate hikes. It doesn’t matter that we went from zero to 5%. Five percent is still not that high of a rate. But you’ve got to look at all the money, the money supply, all of the liquidity that has been pumped into the economy during that time period. Barely any of it has been withdrawn.”
The Fed’s balance sheet remains close to $8 trillion. That’s 10 times larger than it was in 2008.
Prices haven’t even caught up yet. We still have a long way to go on the upside for consumer prices to catch up to the inflation, even if they’ve taken away a little bit of the inflation that they’ve created.”
The markets seem to think the Fed can turn off the money creation like a faucet and price inflation will just disappear. But they don’t understand where price inflation came from, and they don’t recognize the lag.
Peter went on to explain that contrary to conventional wisdom, a weakening economy will not tame price inflation. Remember, inflation is caused by too much money chasing too few goods – not economic strength. A recession will lower production, but consumption typically remains supported by government handouts and fiscal stimulus. Meanwhile, the central bank pours even more money into the economy through rate cuts and QE.
On top of that, a deep recession will cause the already massive budget deficits to grow even larger. That will create additional inflationary pressure.
2 Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens//JAMES RICKARDS//JOHN RUBINO
END
3. CHRIS POWELL//GATA GOLD COMMENTARIES:
Alasdair Macleod: Is gold about to take off?
Submitted by admin on Thu, 2023-11-16 11:11Section: Daily Dispatches
By Alasdair Macleod Head of Research, GoldMoney, Toronto via Schiff Gold, White Plains, New York Thursday, November 16, 2023
The technical position for gold is looking very positive for higher prices. But technical analysis should be backed by fundamentals.
To a large extent fundamentals are in the eye of the beholder, whose opinions in any situation can vary from positive to negative and everything in between. But even for the economic optimists, there are gathering clouds on the horizon likely to continue undermining the global economic outlook, the dollar, and all financial asset values. Fiat currencies are being downgraded relative to real money, which is gold.
Current thinking is that inflation is a diminishing problem and that the interest rate spike is over. In this article I point out where inflation expectations err and the mistake of believing that interest rate control is the solution.
It follows therefore that G-7 debt traps are a more serious problem than generally realized. Further, China and Russia are aware of the likely impact of current events on G-7 currencies and this is why they have accumulated hidden gold reserves.
In short, we face a transition between failing fiat and emerging gold-backed currencies, which might explain why gold’s technical position looks so positive. …
Ted Butler: An answer long overdue about double-counting in silver
Submitted by admin on Thu, 2023-11-16 23:08Section: Daily Dispatches
11:08p ET Thursday, November 16, 2023
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler today questions whether there is double-counting in major silver inventories as there long has been with gold reserves at central banks that lease their reserves.
Butler writes: “The issue revolves around the 103 million ounces listed as being held for the I-Shares silver trust (SLV) by the trust’s custodian, JPMorgan, in New York and the 134 million ounces held in the JPMorgan Comex warehouse.
“This creates the unanswered question of whether the 103 million ounces held on behalf of SLV are also a big part of the 134 million ounces held in the JPM Comex warehouse or if the 103 million ounces are separate and distinct from the 134 million ounces in JPM’s Comex warehouse.
“This is a rather simple question that could be of significance.”
For if the inventories overlap, it would be more evidence of a silver shortage, as well as evidence of the official deception that long has surrounded the monetary metals.
So Butler has put the question to the chairmen of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. His report is headlined “An Answer Long Overdue” and it’s posted at GoldSeek’s companion site, SilverSeek, here:
One of the key data points in silver is the level and change in recorded bullion inventories, primarily in the COMEX warehouses and the silver ETFs. Particularly over the past few years, any number of daily commentaries have sprung up, slicing and dicing the inventory data, with special emphasis on the COMEX warehouse data, as total inventories there have fallen from roughly 400 million oz (the all-time high) at the start of 2021, to 266 million oz today, a decline of a third and supportive of a physical shortage.
I have monitored COMEX silver warehouse data for close to 40 years and starting about 12.5 years ago began reporting on a highly-unusual development that had just begun – a sudden and now persistent frantic turnover or movement of physical metal into and out from the COMEX silver warehouses of massive proportions. Starting around the same time that JPMorgan opened its COMEX metal warehouses, in April 2011, the unprecedented physical turnover has continued, with an average annual turnover of more than 250 million oz, meaning that over the past 12.5 years, more than 3 billion oz have been physically shuffled in and out from the COMEX warehouses – not something coming close to occurring in any other commodity.
For all the close attention placed on the recorded silver inventories in the COMEX warehouses and the silver ETFs, one particular question remains open and unanswered. There appears to be a potential overlap or possible double-counting of a significant chunk of silver (103 million oz) in the two largest stockpiles of recorded silver bullion inventories in the world, the COMEX warehouses and the holdings in SLV, the largest silver ETF. I’ve mentioned this in the past and tried to make some inquiries along the way, but never received a definitive answer. So, this week, I decided to secure a definitive answer.
The issue revolves around the 103 million oz listed as being held for the I-Shares silver trust (SLV) by the trust’s custodian, JPMorgan, in New York and the 134 million oz held in the JPMorgan COMEX warehouse. This creates the unanswered question of whether the 103 million oz held on behalf of SLV is also a big part of the 134 million oz held in the JPM COMEX warehouse or if the 103 million oz is separate and distinct from the 134 million oz in JPM’s COMEX warehouse? This is a rather simple question that could be of significance.
Let me be as clear as I can be – I don’t know which it is, separate stockpiles of silver or a form of double-counting. I do know the question has been created because there are different regulatory regimes overseeing the reporting of the inventories in SLV and of the COMEX warehouse inventories, so I’m not suggesting anything underhanded. Under the firm belief that it is better to light a candle than to curse the darkness, on Monday, I wrote to the two regulatory bodies having jurisdiction over the inventories in SLV and in the COMEX warehouses to get the question answered. Here is that letter –
Dear Chairs Gensler and Behnam,
I respectfully petition you to settle an issue that straddles your jurisdictions. The issue concerns the accurate public reporting of recorded silver bullion inventories held in the world’s largest silver ETF, SLV, of which BlackRock, Inc. is the sponsor and in the COMEX-approved silver warehouse inventories, of which the CME Group, Inc. is responsible.
The issue centers on the holdings in the JPMorgan COMEX silver warehouse, which currently amount to just over 134 million oz (of the 266 million oz total COMEX holdings) and the 103 million oz reported by BlackRock (of the total 441 million oz in the trust) as being held on behalf of SLV in New York by JPMorgan (which happens to be the official custodian of the physical metal held by SLV.).
The issue revolves around whether the 103 million ounces held on behalf of SLV by JPMorgan in New York is part of the 134 million oz reported by the CME Group as being held in the JPM COMEX warehouse or if these are two separate silver holdings. Since the quantities involved are quite large, it makes a difference to silver investors whether these are two distinct holdings or if this is, effectively, a matter of double-counting. I’m sure you would agree that transparency is the best policy and that investors would be better served if the situation was made clear.
It is because this issue involves different jurisdictions, with the S.E.C. responsible for accurate reporting on SLV and the C.F.T.C. responsible for the accurate reporting of CME Group COMEX warehouse data, that I write to you both. In order to streamline what should be a rather simple resolution process, I am copying this message to the CEOs of BlackRock, the CME Group and JPMorgan, all of which I’m certain would be interested in setting the record straight.
On a separate note, I would like to thank Chairman Gensler for any assistance rendered as a result of my petitions last year about the excessive short position in SLV, as recent data indicate the short position fell from 60 million shares back in August 2022 to 16.5 million shares in the most recent short interest report, as of Oct 31, 2023, a reduction of 72%.
Sincerely,
Ted Butler
I also know that the answer can be uncovered within a few minutes and a few phone calls, so this is not some heavy-duty investigation, involving a drain on S.E.C. or CFTC resources. I’ve also enlisted the aid of my local congressman, so an answer is just about guaranteed. Again, I’m not suggesting any type of deliberate under-handed activity here, just an issue that fell through regulatory jurisdictional cracks that needs to be clarified.
I do feel that the market consensus considers that the 103 million oz in SLV in New York and the 134 million oz held in the JPM COMEX warehouse are two separate stockpiles and in my weekly tally of the combined holdings in SLV and the COMEX warehouses, I certainly have treated them as separate stockpiles. So, if the regulators report that these are two separate stockpiles, that is largely in the current market thinking and should have little price impact.
However, if it comes out that the 103 million oz is part of the 134 million oz held in the JPM COMEX warehouse, I could imagine a bullish reaction to what was inadvertent double-counting. And in the really way-out realm of speculation, based upon the timeline of me sending the message mid-morning on Monday, compared to the liftoff in silver prices Tuesday morning, my darn Spidey senses are all tingling. Of course, when I receive a response to my question, I’ll publish, as always, that response. Lastly, I’m kind of surprised no one else has sought clarity on this issue before now (including myself).
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP AT 7.2119
OFFSHORE YUAN: UP TO 7.2172
SHANGHAI CLOSED UP 3.44 PTS OR 0.81%
HANG SENG CLOSED DOWN 378.63 PTS OR 2,12%
2. Nikkei closed UP 150.79PTS OR 0.48%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 103.98 EURO RISES TO 1.0866 UP 13 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.730 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 149.29/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 UP CHINESE ONSHORE YUAN: UP// OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.5575***/Italian 10 Yr bond yield DOWN to 4.311*** /SPAIN 10 YR BOND YIELD DOWN TO 3.556…**
3i Greek 10 year bond yield FALLS TO 3.765
3j Gold at $1989.50 silver at: 24.04 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 13 /100 roubles/dollar; ROUBLE AT 89.28//
3m oil into the 73 dollar handle for WTI and 78 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 151.28// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.786% 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 0.8872 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9642 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: 4.4411 DOWN 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.588 DOWN 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.826 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 28.70…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 6 BASIS PTS AT 4.125
US equity futures rose and bond yields fell as the historic squeeze that started more than two weeks ago among the systematic and hedge fund communities is still going on after this week’s soft inflation and jobs data fueled conviction that aggressive tightening are finally at an end. As of 8:00am, S&P futures were 0.3% higher while Nasdaq futures rose 0.1%, both on course for a third weekly gain after Joe Biden signed the stopgap bill to extend government funding into early 2024 late last night, kicking a politically-divisive debate over federal spending into a presidential election year. Europe’s Stoxx 600 index jumped 1%, on track for an almost 3% rally this week. Asian stocks declined as Alibaba Group scrapped plans to spin off and list its $11 billion cloud business, dragging Chinese shares lower. Bonds climbed, putting the US 10-year yield on course to drop more than 25 basis points this week as markets now price a full percentage point of rate cuts next year from the ECB; the dollar slumped as the yen spiked to the highest level since Oct 31. Oil is headed for a fourth weekly loss after sinking into a bear market, in part as supply exceeds expectations.
In premarket trading, Gap soared 17% after reporting third-quarter profit that exceeded forecasts. Here are some other notable premarket movers:
Alibaba ADRs fall 3.3%, extending Thursday’s decline after the internet giant called off a spinoff of its cloud unit, citing tightening US curbs on advanced chips for China.
Applied Materials declines 7.3% after a report that the largest US maker of chipmaking machinery faces a US criminal investigation for allegedly violating export restrictions to China.
ChargePoint tumbles 29% after the company replaced longtime CEO Pasquale Romano, elevating its chief operating officer following a sharp drop in the shares of the electric-vehicle charging company.
Coherus Biosciences gains 9% after Baird initiated coverage with a bullish rating, saying the company’s broad commercial pipeline has positioned it for accelerating growth.
Li Auto ADRs rise 3.8% after news that the Chinese carmaker and Wuxi AppTec will join the Hang Seng Index.
This week’s soft inflation and jobs data in the US has fueled conviction that the policy-tightening cycles from the Federal Reserve and other central banks are finally at an end and that rate cuts are coming. That view helped drive $23.5 billion into stock funds in the week through Nov. 15, the second-biggest inflows of the year, BofA’s Michael Hartnett said.
But there are signs the rate hikes are finally crimping economic growth. Oil prices dropped into a bear market, down 20% from their September highs while the CEO of Walmart, the world’s largest retailer, said on Thursday he sees potential for deflation.
“Eventually, we will get rate cuts, but as we see company earnings weakening and consumers cutting back on spending, that’s initially not going to be good for markets,” said Melissa R Brown, global head of research at Qontigo GmbH.
Meanwhile, Bank of America’s Michael Hartnett, who four weeks ago correctly recommended to go long ahead of a tactical rally, said that technical and macroeconomic headwinds are building and investors should offload risky assets after the recent gains, echoing what we wrote last night. While easier financial conditions — with yields dropping to 4% from 5% — have spurred risk appetite, a further slide to 3% would be perceived as recessionary, Hartnett said. A slew of central bankers from the ECB, Bank of England and Fed are due to speak on Friday and traders will be watching for possible pushback against rate-cut expectations from policy makers.
European stocks rose as investors ramp up bets on interest-rate cuts next year, while bonds also benefit. The Stoxx 600 is up 1.1% with all 20 sectors in the green: real estate and mining stocks leading gains while personal care and technology shares are the biggest laggards. Here are the biggest movers Friday:
Vestas shares rise as much as 3.5%, after the Danish wind turbine manufacturer was upgraded to neutral from underweight at JPMorgan. The broker says the company is turning the corner as it reported onshore book-to-bill figures that underpin growth for 2024
Orsted gains as much as 3.3%, after Citigroup opens a 3-month positive catalyst watch on the energy company, saying it welcomes a number of events coming in the short term
Delivery Hero rises as much as 2.6%, as the potential acquisition of the company’s Foodpanda brand by Meituan is expected to be a positive for the German food delivery company, according to Barclays
Remy Cointreau rises as much as 5.6% after Kepler Cheuvreux raised the rating of the French spirits company due to its attractive valuation and positive growth prospects
Eiffage gains as much as 3.3%, the most in a month, after the French construction group signed a contract with French utility EDF worth more than €4b for the main civil engineering works for a pair of EPR2-type nuclear power plants
Volvo Car shares tumble as much as 14%, to a record low, after Geely announced that it would sell around $350 million of its stake in the company due to investor concerns about the automaker’s limited free float
London Stock Exchange Group falls as much as 1.6%, the worst performer on FTSE 100 on Friday, as a failure to upgrade earnings guidance in a statement ahead of Friday’s capital markets day disappoints analysts
Generali falls as much as 2.6%, the most intraday since Oct. 20, as analysts highlight a Solvency ratio miss for the Italian insurer that overshadows a slight beat in nine-month operating profit, driven by the Life business
Earlier int he session, Asian stocks were undermined by a 10% drop in Alibaba Group Holding, which scrapped plans to list its $11 billion cloud unit as a fight between the US and China for technological dominance escalates. Meanwhile, Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co. sold a $350 million stake in Volvo Car AB, responding to investor concerns about the automaker’s limited free float. Volvo Car’s stock tumbled as much as 14% in European trading.
Hang Seng and Shanghai Comp were pressured amid heavy losses in Alibaba shares after it scrapped its cloud business spinoff due to US chip restrictions and with energy names reeling from the tumble in oil prices.
Australia’s ASX 200 marginally declined with notable underperformance in the energy sector after oil prices slumped to their lowest since July although the downside in the index was cushioned by resilience in miners and defensives.
Nikkei 225 was indecisive before moving higher amid a lack of fresh catalysts and after balanced comments from BoJ Governor Ueda.
Key stock gauges in India fell on Friday, weighed down by shadow lenders and banks, which tumbled after the country’s central bank tightened rules to check a surge in risky loans. The S&P BSE Sensex Index fell 0.3% to 65,794.73 in Mumbai, while the NSE Nifty 50 Index slid 0.2%. The Sensex was still up for the week, rising 0.8% to mark the third week of gains.
In FX, the Bloomberg Dollar Spot Index is down 0.3% as the greenback declines for its second session of losses versus all its G-10 rivals after a rise in US jobless claims saw markets grow more confident the Federal Reserve is done hiking.
USD/JPY fell as much as 0.8% to 149.53 as retreating Treasury yields eased pressure on the Japanese yen; Bank of Japan Governor Kazuo Ueda suggested he’s determined to keep stimulus unchanged
GBP/USD fell as much as 0.3% to 1.2374 before paring losses, after weak UK retail sales data saw traders price 85bps of BOE rate hikes next year; gilts outperformed with yields down 9-11bps across the curve
In rates, Treasury yields were richer by 2bp to 3bp across the curve after touching lowest levels since September, paced by bigger rally in gilts after the release of softer-than-forecast UK retail sales data for October. 10-year TSY yields were around 4.405%, richer by ~3bp vs Thursday close, after touching 4.377%. Bunds also rally, with German 10-year yields falling by 7bps. UK 10-year borrowing costs drop 11bps as gilts got an added boost from soft UK retail sales data. The US session includes four Fed speakers, while some investors may have one eye on Monday’s 20-year bond auction, adding some supply pressure to Friday’s trading.
In commodities, oil was headed for a fourth weekly loss after sinking into a bear market, in part as supply exceeds expectations. Crude futures advanced, with WTI rising 1.1% to trade near $73.70, Spot gold gains 0.6%.
Looking to the day ahead now, US economic data includes October housing starts/building permits (8:30am) and November Kansas City Fed services activity (11am). Central bank speakers include ECB President Lagarde, and the ECB’s Villeroy, Holzmann, Vujcic, Nagel, Wunsch and Cipollone, the Fed’s Vice Chair for Supervision Barr, and the Fed’s Collins, Daly and Goolsbee, BoE Deputy Governor Ramsden, and the BoE’s Greene.
Market Snapshot
S&P 500 futures up 0.2% to 4,531.00
STOXX Europe 600 up 0.9% to 455.25
MXAP little changed at 160.83
MXAPJ down 0.6% to 500.39
Nikkei up 0.5% to 33,585.20
Topix up 0.9% to 2,391.05
Hang Seng Index down 2.1% to 17,454.19
Shanghai Composite up 0.1% to 3,054.37
Sensex down 0.3% to 65,806.24
Australia S&P/ASX 200 down 0.1% to 7,049.39
Kospi down 0.7% to 2,469.85
German 10Y yield little changed at 2.53%
Euro little changed at $1.0854
Brent Futures up 0.9% to $78.15/bbl
Brent Futures up 0.9% to $78.14/bbl
Gold spot up 0.5% to $1,991.74
U.S. Dollar Index little changed at 104.26
Top Overnight News
BOJ Governor Kazuo Ueda said that there are both positives and negatives to the weak yen’s impact, suggesting he’s determined to keep stimulus unchanged for now despite heightened concerns over the yen. BBG
For the first time in years, a Chinese leader desperately needed a few things from the United States. Mr. Xi’s list at the summit started with a revival of American financial investments in China and a break in the series of technology export controls that have, at least temporarily, crimped Beijing’s ability to make the most advanced semiconductors and the artificial intelligence breakthroughs they enable. NYT
Hyundai customers who want to skip going to a dealership will have a new option next year: shopping on Amazon.com. The South Korean automaker announced the move Thursday with Amazon at the Los Angeles Auto Show. Starting in 2024, U.S. auto dealers will be able to sell new vehicles on the tech company’s platform, making Hyundai the first automotive brand to offer such an option for customers. WSJ
The ECB’s decision to halt interest rate increases at its October meeting is fully justified by a slowdown in inflation, Governing Council member Francois Villeroy de Galhau said. BBG
Iran’s top diplomat has revealed that Tehran told the US through back channels that it did not want the Israel-Hamas war to spread further, but also warned Washington that regional conflict could be unavoidable if Israeli attacks on Gaza continue. FT
UK retail sales fell unexpectedly in October, adding to the impression that a string of interest-rate hikes designed to beat down inflation is beginning to stymie economic activity. The volume of goods sold in stores and online dropped 0.3%, the Office for National Statistics said Friday. That follows a downwardly revised 1.1% decline in September, when unusually warm weather held back spending on clothing. BBG
Rate-cut bets are back after soft inflation and US jobs data fueled conviction that central banks are done with aggressive tightening cycles. Markets now price a full point of ECB rate reductions next year and bets on BOE cuts by June may be brought forward after a surprise drop in retail sales. BBG
GOOGL is delaying the release of its new conversational AI program, Gemini, from Nov until Q1:24, the latest setback for the company this area. The Information
New York City will hold off on hiring new police officers, reduce trash pickups, make cuts to the city’s pre-kindergarten programs and lower spending on services for migrants to slash the city’s $110.5 billion budget. The 5% reduction will affect services for many New Yorkers and effectively trim the city’s police force to its smallest size since the 1990s by summer 2025, city budget officials said. BBG
Foreigners no longer have an insatiable appetite for U.S. government debt. That’s bad news for Washington. The U.S. Treasury market is in the midst of major supply and demand changes. The Federal Reserve is shedding its portfolio at a rate of about $60 billion a month. Overseas buyers who were once important sources of demand—China and Japan in particular—have become less reliable lately. WSJ
A more detailed breakdown of overnight news from Newsquawk
Asia-PAcific stocks traded mixed with sentiment clouded after the recent soft US data and tumble in oil prices. ASX 200 marginally declined with notable underperformance in the energy sector after oil prices slumped to their lowest since July although the downside in the index was cushioned by resilience in miners and defensives. Nikkei 225 was indecisive before moving higher amid a lack of fresh catalysts and after balanced comments from BoJ Governor Ueda. Hang Seng and Shanghai Comp were pressured amid heavy losses in Alibaba shares after it scrapped its cloud business spinoff due to US chip restrictions and with energy names reeling from the tumble in oil prices.
Top Asian News
China President Xi said China will continue to improve foreign investment mechanisms and is to further shorten the negative list on foreign investment. Furthermore, Chinese President Xi told Japanese PM Kishida that peaceful coexistence, lasting friendship and cooperation will serve the fundamental interests of Chinese and Japanese people, while he added that both sides should focus on common interests and properly handle differences.
Japanese PM Kishida said there are many areas of common interests as well as issues between Japan and China, while he was able to reaffirm that they will work towards a strategic relationship based on mutual interests. Kishida also stated that he sought a calm response from China regarding the release of Fukushima wastewater and conveyed strong concerns regarding the situation over the disputed Senkaku Islands, as well as China’s increasing joint activities with Russia near Japanese waters.
BoJ Governor Ueda said Japan’s economy is recovering moderately which will likely continue and that they will patiently maintain easy policy, while he noted they cannot say yet with conviction that the price target will be stably and sustainably met. Ueda said they will consider ending YCC and the negative rate if they can expect inflation to stably sustain the target and in what order they will change policy will depend on economic, price and market developments at the time. Furthermore, he said making strong commitments now on how they could change policy could have unintended consequences in markets and the BoJ does not have a specific plan yet on how it will sell ETFs, while he also stated they cannot say now when the BoJ will change ultra-easy policy.
PBoC has reportedly asked some lenders to cap interest rates on an interbank debt instrument this month, according to Reuters sources, citing rising short-term yields on bank debt and strains in funding markets. Some large-sized commercial lenders were reportedly told not to sell negotiable certificates of deposit (NCDs) at very high rates, according to the sources.
PBoC and Financial Regulators hold a meeting on financial issues; will strive to stabilise the property market; pledges to stabilise credit growth to strengthen the economy.
Head of Japan’s largest trade union confederation says it will seek wage hikes for workers beyond 2024.
European bourses in the green, Euro Stoxx 50 +0.9%, and on track to conclude the week with upside in excess of 2.0% for the broader Stoxx 600, gains which largely derive from the US CPI and subsequent pronounced dovish price action. Sectors are higher across the board with Health Care, Real Estate & Basic Resources leading while Autos remain green but closer to stalling after reports around Volvo. Stateside, futures are also in the green but action is much more contained thus far, ES/NQ +0.2%, while the RTY +1.3% outperforms in a recovery from Thursday’s data prints. Tesla (TSLA) is set to raise prices in China again next week, according to Cailianshe citing an industry insider. “This will be the fourth time for Tesla to raise prices in China so far this year.”, according to National Business Daily.
Top European News
ECB’s Villeroy says inflation has been lowered considerably and the recent policy pause is justified, via the ACPR conference.
ECB’s Holzmann says “please don’t think that this is the last rate hike and there won’t be any more”; ECB ” may yet be forced to raise rates further if inflation shocks occur”, via Econostream.
FX
DXY back on the brink of 104.00/multiple lows as yields crumble to the benefit of the Yen especially, USD/JPY retreats from 150.77 to sub-149.50 through stops at 150.00; USD/JPY currently near 149.25 lows.
Sterling stumbles after a slump in UK retail sales, but Cable back above 1.2400 as Dollar reverses sharply.
Euro retests key tech resistance vs Buck above 1.0850 amidst another stack of option expiries, spanning 1.0800-1.0910.
Yuan breaks higher as Greenback weakens and PBoC moves to ease funding squeeze.
PBoC set USD/CNY mid-point at 7.1728 vs exp. 7.2473 (prev. 7.1724)
Fixed Income
Debt futures fly into the weekend as bullish/dovish impulses garner more momentum.
Bunds extend to 131.74 and the 10-year yield hovers above 2.50%.
Gilts reach 97.99 after dismal UK consumption data.
T-note towards the top of 109-08+/108-22 range ahead of US housing metrics and another host of Fed speakers.
Commodities
WTI and Brent Jan futures have been picking up after consolidating around USD 73.25/bbl and USD 77.50/bbl respectively overnight; though the benchmarks remain in relative proximity to Thursday’s troughs with substantial ground to recoup before that session’s peaks.
Spot gold inches closer towards USD 2,000/oz as it trades just under the 6th November peak of USD 1,993.15/oz whilst spot silver topped USD 24/oz once again.
Base metals are softer amid broader weakness in industrial commodities with 3M LME copper briefly dipping under USD 8,200/t, Dalian iron ore continued to slip after the week’s market intervention by China; though, a reported recovery in steel demand stemmed the downside.
Iran set December Iranian light crude price to Asia at Oman/Dubai + USD 4.00/bbl, according to a Reuters source.
Geopolitics
Syrian air defences confronted enemy targets and shot down Israeli missiles fired from Golan Heights.
US Secretary of State Blinken spoke with Israeli Minister Gantz and discussed efforts to accelerate the transit of humanitarian aid into Gaza, as well as efforts to prevent the conflict from widening and to secure the release of hostages. Blinken also stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank including confronting rising levels of settler extremist violence.
Iraqi armed factions say they targeted the Harir base (hosts US forces) in northern Iraq, according to Al Arabiya
“A truce agreement is near, including the entry of aid and release of 50 prisoners held by Hamas”, via Al Arabiya sources
US Event Calendar
08:30: Oct. Building Permits, est. 1.45m, prior 1.47m, revised 1.47m
08:30: Oct. Housing Starts, est. 1.35m, prior 1.36m
08:30: Oct. Building Permits MoM, est. -1.4%, prior -4.4%, revised -4.5%
08:30: Oct. Housing Starts MoM, est. -0.6%, prior 7.0%
11:00: Nov. Kansas City Fed Services Activ, prior -1
Central Bank Speakers
08:45: Fed’s Barr Speaks on Payments
08:45: Fed’s Collins Delivers Welcoming Remarks
09:30: Fed’s Daly Speaks in Frankfurt
09:45: Fed’s Goolsbee Speaks on Economy
DB’s Jim Reid concludes the overnight wrap
Speculation about a dovish pivot grew louder over the last 24 hours, as a bunch of negative data added to the sense that the Fed was done hiking rates. Time will tell whether that proves the case, but for now at least, it meant the 2yr Treasury yield (-7.4bps) almost closed at its lowest level since August, whilst investors moved to expect more aggressive rate cuts for 2024, with just under 100bps now priced in by the Fed’s December meeting. That narrative then got an added boost from a slump in oil prices, with Brent Crude (-4.63%) closing at its lowest level since July, which in turn offered fresh support to the sense that inflation was heading lower.
The initial catalyst for these moves were the latest jobless claims data from the US. That showed initial claims spiking up to their highest since August, at 231k (vs. 220k expected), whilst the continuing claims hit their highest since late-2021, at 1.865m (vs. 1.843m expected). 45 minutes later, that was then followed up by the industrial production release for October, which fell by a bigger-than-expected -0.6% (vs. -0.4% expected). And in another 45 minutes, we found out that the NAHB’s housing market index had fallen to 34 in November (vs. 40 expected), which was the lowest reading since last December. So this all added up to a more downbeat picture on the economy than previously thought.
This softening in the data has led to growing hopes for a soft landing with a smooth decline in inflation. But the problem is that if we do get a hard landing, then the data will initially soften in a way that may appear like a soft landing at first. So at some point we’d need to see a stabilisation in measures like the continuing jobless claims and the unemployment rate, as the former is now at its highest since late-2021, and the latter is now at its highest level since January 2022.
For now at least, markets are mostly taking the more positive interpretation, and November so far has seen one of the strongest performances for global markets of 2023. That’s been aided by expectations of more dovish central banks, and yesterday saw investors bring forward their expectations for rate cuts yet again. For instance, by the close fed funds futures were pricing a 35% likelihood of a cut as soon as the March meeting, and a 86% likelihood of a cut by the May meeting. Likewise at the ECB, markets were pricing in an 87% likelihood of a cut by April. So market pricing is suggesting it’s more-likely-than-not that we’ll have seen a rate cut from the Fed and the ECB in Q2 of next year.
When it came to central bankers themselves, there was no sign that the rhetoric was shifting towards imminent cuts. For instance, Cleveland Fed President Mester said that they needed to see evidence that inflation was on a downward path, and that easing policy “is just not part of the conversation right now”. Separately, Governor Cook said that momentum in demand “could keep the economy and labor market tight and slow the pace of disinflation”, but she also acknowledged the risk “of an unnecessarily sharp decline in economic activity and employment”.
For markets, the more dovish expectations of investors led to a fresh rally in sovereign bonds on both sides of the Atlantic. In the US, that saw the 10yr yield fall -9.6bps to its lowest level since September, at 4.44%, whilst the 2yr yield was down -7.4bps to 4.84%. In Europe it was much the same story, with the rally seeing yields on 10yr bunds (-5.4bps), OATs (-5.7bps) and BTPs (-8.9bps) all move lower. And the 2yr German yield (-6.3bps) even fell back to a 3-month low.
Another factor adding to the positive mood on inflation was the latest decline in oil prices yesterday, with Brent Crude down -4.63% to $77.42/bbl, whilst WTI fell -4.90% to $72.90/bbl. In both cases that’s their lowest level since early July, and we’ve also seen evidence that lower energy prices are already filtering through to retail prices. For example, the AAA’s daily gasoline price tracker in the US was down to $3.342/gallon on Wednesday, which is its lowest level since January. In part, those declines are thanks to concerns about economic demand, particularly given the weaker global data over recent weeks. But they also follow a Wednesday report from the US Energy Information Administration saying that crude inventories were at their highest level since August .
When it came to equities, there was a more mixed performance after the data releases and various earnings announcements with large caps outperforming. That meant the S&P 500 (+0.12%) posted a modest gain to close at its highest level since September 1, with insurance (+1.24%) and software (+1.17%) firms posting strong gains while energy stocks saw the worst sectoral performance thanks to the sharp decline in oil and gas prices. At the company level, Cisco Systems (-9.83%) was the worst performer in the index following the release of its weaker revenue forecast after the previous day’s close. And the second-worst performer was Walmart (-8.09%), which came as they struck a cautious outlook on the consumer. Small-cap stocks struggled in particular with the Russell 2000 down -1.52%. European equities put in a weaker performance than the US, with the STOXX 600 down -0.72%.
Overnight in Asia, equity markets are mostly falling this morning, with Alibaba down -10.08% after they said they would not spin off its cloud business. That makes it the worst performer in the Hang Seng today, with the overall index down -2.13%. Other indices have also lost ground this morning, including the CSI 300 (-0.51%), the Shanghai Comp (-0.28%) and the KOSPI (-0.85%). However, the Nikkei (+0.27%) has advanced somewhat, and US equity futures are pointing higher, with those on the S&P 500 up +0.09%.
To the day ahead now, and data releases include UK retail sales for October, along with US housing starts and building permits for October. Central bank speakers include ECB President Lagarde, and the ECB’s Villeroy, Holzmann, Vujcic, Nagel, Wunsch and Cipollone, the Fed’s Vice Chair for Supervision Barr, and the Fed’s Collins, Daly and Goolsbee, BoE Deputy Governor Ramsden, and the BoE’s Greene.
end
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Equities bid, Bonds soar assisted by UK Retail Sales; JPY outperforms; Fed speak due – Newsquawk US Market Open
FRIDAY, NOV 17, 2023 – 06:13 AM
European equities soar with US futures bid but slightly more contained
DXY is trending lower towards the 104.00 level, with outperformance in the Yen amid tighter yield differentials
Bond bulls rampant, assisted by softer UK Retail Sales, with key yield levels in sight
Crude attempts to nurse some losses while industrial metals are subdued but precious metals shine
Looking ahead, highlights include US Housing Starts, Speeches from BoE’s Ramsden & Greene; Fed’s Collins, Barr, Goolsbee & Daly; ECB’s Nagel, Wunsch & Cipollone.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
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EUROPEAN TRADE
EQUITIES
European bourses in the green, Euro Stoxx 50 +0.9%, and on track to conclude the week with upside in excess of 2.0% for the broader Stoxx 600, gains which largely derive from the US CPI and subsequent pronounced dovish price action.
Sectors are higher across the board with Health Care, Real Estate & Basic Resources leading while Autos remain green but closer to stalling after reports around Volvo.
Stateside, futures are also in the green but action is much more contained thus far, ES/NQ +0.2%, while the RTY +1.3% outperforms in a recovery from Thursday’s data prints.
Tesla (TSLA) is set to raise prices in China again next week, according to Cailianshe citing an industry insider. “This will be the fourth time for Tesla to raise prices in China so far this year.”, according to National Business Daily.
Li Auto (2015 HK / LI), Wuxi Apptec (2359 HK) to join Hong Kong’s Hang Seng Index, effective December 4, via Bloomberg.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
DXY back on the brink of 104.00/multiple lows as yields crumble to the benefit of the Yen especially, USD/JPY retreats from 150.77 to sub-149.50 through stops at 150.00; USD/JPY currently near 149.25 lows.
Sterling stumbles after a slump in UK retail sales, but Cable back above 1.2400 as Dollar reverses sharply.
Euro retests key tech resistance vs Buck above 1.0850 amidst another stack of option expiries, spanning 1.0800-1.0910.
Yuan breaks higher as Greenback weakens and PBoC moves to ease funding squeeze.
PBoC set USD/CNY mid-point at 7.1728 vs exp. 7.2473 (prev. 7.1724)
WTI and Brent Jan futures have been picking up after consolidating around USD 73.25/bbl and USD 77.50/bbl respectively overnight; though the benchmarks remain in relative proximity to Thursday’s troughs with substantial ground to recoup before that session’s peaks.
Spot gold inches closer towards USD 2,000/oz as it trades just under the 6th November peak of USD 1,993.15/oz whilst spot silver topped USD 24/oz once again.
Base metals are softer amid broader weakness in industrial commodities with 3M LME copper briefly dipping under USD 8,200/t, Dalian iron ore continued to slip after the week’s market intervention by China; though, a reported recovery in steel demand stemmed the downside.
Iran set December Iranian light crude price to Asia at Oman/Dubai + USD 4.00/bbl, according to a Reuters source.
ECB’s Villeroy says inflation has been lowered considerably and the recent policy pause is justified, via the ACPR conference.
ECB’s Holzmann says “please don’t think that this is the last rate hike and there won’t be any more”; ECB ” may yet be forced to raise rates further if inflation shocks occur”, via Econostream.
NOTABLE DATA
UK Retail Sales MM (Oct) -0.3% vs. Exp. 0.3% (Prev. -0.9%, Rev. -1.1%); predominately because of a fall in automotive fuel sales volumes, but also from both food and non-food stores. Non-store retailing the only main sector to report sales volume growth.
EU Current Account SA, EUR* (Sep) 31.0B (Prev. 27.7B)
EU HICP Final YY (Oct) 2.9% vs. Exp. 2.9% (Prev. 2.9%).
NOTABLE US HEADLINES
US President Biden said they have made substantial progress but noted they still have more work to do on the Indo-Pacific Economic Framework, while he added they are launching a critical minerals dialogue.
Chinese Commerce Ministry says China and US agreed to hold 1st Commerce Working Group meeting in Q1 2024.
GEOPOLITICS
Syrian air defences confronted enemy targets and shot down Israeli missiles fired from Golan Heights.
US Secretary of State Blinken spoke with Israeli Minister Gantz and discussed efforts to accelerate the transit of humanitarian aid into Gaza, as well as efforts to prevent the conflict from widening and to secure the release of hostages. Blinken also stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank including confronting rising levels of settler extremist violence.
Iraqi armed factions say they targeted the Harir base (hosts US forces) in northern Iraq, according to Al Arabiya
“A truce agreement is near, including the entry of aid and release of 50 prisoners held by Hamas”, via Al Arabiya sources
CRYPTO
Bitcoin is modestly firmer on the session, with impetus coming from the softer USD, though as has been the case in recent sessions around this time overall action for BTC is limited with ranges relatively contained overall. Currently, BTC is around the mid-point of USD 36-36.5k bounds.
APAC TRADE
APAC stocks traded mixed with sentiment clouded after the recent soft US data and tumble in oil prices.
ASX 200 marginally declined with notable underperformance in the energy sector after oil prices slumped to their lowest since July although the downside in the index was cushioned by resilience in miners and defensives.
Nikkei 225 was indecisive before moving higher amid a lack of fresh catalysts and after balanced comments from BoJ Governor Ueda.
Hang Seng and Shanghai Comp were pressured amid heavy losses in Alibaba shares after it scrapped its cloud business spinoff due to US chip restrictions and with energy names reeling from the tumble in oil prices.
NOTABLE HEADLINES
China President Xi said China will continue to improve foreign investment mechanisms and is to further shorten the negative list on foreign investment. Furthermore, Chinese President Xi told Japanese PM Kishida that peaceful coexistence, lasting friendship and cooperation will serve the fundamental interests of Chinese and Japanese people, while he added that both sides should focus on common interests and properly handle differences.
Japanese PM Kishida said there are many areas of common interests as well as issues between Japan and China, while he was able to reaffirm that they will work towards a strategic relationship based on mutual interests. Kishida also stated that he sought a calm response from China regarding the release of Fukushima wastewater and conveyed strong concerns regarding the situation over the disputed Senkaku Islands, as well as China’s increasing joint activities with Russia near Japanese waters.
BoJ Governor Ueda said Japan’s economy is recovering moderately which will likely continue and that they will patiently maintain easy policy, while he noted they cannot say yet with conviction that the price target will be stably and sustainably met. Ueda said they will consider ending YCC and the negative rate if they can expect inflation to stably sustain the target and in what order they will change policy will depend on economic, price and market developments at the time. Furthermore, he said making strong commitments now on how they could change policy could have unintended consequences in markets and the BoJ does not have a specific plan yet on how it will sell ETFs, while he also stated they cannot say now when the BoJ will change ultra-easy policy.
PBoC has reportedly asked some lenders to cap interest rates on an interbank debt instrument this month, according to Reuters sources, citing rising short-term yields on bank debt and strains in funding markets. Some large-sized commercial lenders were reportedly told not to sell negotiable certificates of deposit (NCDs) at very high rates, according to the sources.
PBoC and Financial Regulators hold a meeting on financial issues; will strive to stabilise the property market; pledges to stabilise credit growth to strengthen the economy.
Head of Japan’s largest trade union confederation says it will seek wage hikes for workers beyond 2024.
DATA RECAP
Singapore Non-Oil Exports MM (Oct) 3.4% vs. Exp. 1.5% (Prev. 11.1%); YY (Oct) -3.4% vs. Exp. -6.5% (Prev. 13.2%)
Chinese FDI (YTD) (Oct) -9.4% (Prev. -8.4%)
2 c. ASIAN AFFAIRS
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 3.44 PTS OR 0.81% //Hang Seng CLOSED DOWN 378.63 PTS OR 2.12% /The Nikkei CLOSED UP 160.79 PTS OR 0.48% //Australia’s all ordinaries CLOSED DOWN 0.12 % /Chinese yuan (ONSHORE) closed UP AT 7.2119 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.2172 /Oil DOWN TO 73.87 dollars per barrel for WTI and BRENT DOWN AT 78.46/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
2 d./NORTH KOREA/ SOUTH KOREA/ //
NORTH KOREA/
END
2e) JAPAN
end
3 CHINA
CHINA
This is extremely bad for China as their economy is plunging. Housing is the major part of their economy
(zerohedge)
China Home Prices Plunge The Most In Eight Years
THURSDAY, NOV 16, 2023 – 07:20 PM
While China keeps regurgitating the same tired and trite line about an “imminent” fiscal and housing stimulus, which reportedly is in the “trillions” of yuan, yet which to date is entirely imaginary and never actually materalizes, its housing market continues to crater and will soon reach a point where a depression is unavoidable… at which point the all too real stimulus to reboot the economy will be in the tens of trillions.
Overnight, China’s National Bureau of Statistics reported that last month, China’s home prices fell the most in eight years signaling the property slump is worsening even after the government ramped up efforts to revive demand. In fact, one can argue that central planning is merely doing what it always does: makes the situation even worse.
New-home prices in 70 cities, excluding state-subsidized housing, declined 0.38% last month from September, when they dropped 0.3%, official figures showed Thursday. The decrease was the steepest since February 2015.
The drop adds to further evidence of a relentless and persistent housing downturn after official figures this week showed a contraction in sales and property investment deepened. Fresh stimulus measures rolled out at major cities since August, and which have been derided as much too small to make an impact, have done little to turn around the sector, which is dragging on China’s economic recovery and which has traditionally served as the primary source of wealth for China’s middle class.
While prices in the largest, tier-1 cities, slid 0.35%, sharply deteriorating from a 0.05% decrease a month earlier, tier-2 cities, mostly provincial capitals, fared better with a narrower price decline amid an easing in homebuying restrictions.
The second-hand market didn’t fare any better, with prices tumbling 0.58%, the most since October 2014. A Bloomberg Intelligence gauge of Chinese property developers fell as much as 1.4% on Thursday morning, extending this year’s decline to 43%.
Here are some more details:
After seasonal adjustments, weighted average house prices in the primary market declined by 0.9% mom annualized in October, despite ongoing easing policies.
The proportion of cities that experienced sequential house price gains declined in both the primary market and secondary market in October from September. New home prices dropped in 56 of 70 cities in October. Second-hand home prices fell in 67 cities, with just Xi’an in Shaanxi province and Hangzhou in Zhejiang showing growth.
Most property-related activity remained sluggish in year-on-year terms in October. 30-city new home transaction volume declined by 27.1% yoy month-to-date in November. Major cities’ inventory months (sellable gross floor area divided by 12-month rolling gross floor area sold) rose to 23.8 in October from 22.7 in September, with the increase mostly led by Tier-3 cities.
A brief housing market rebound earlier this year after China’s post-Covid reopening “turned out to be short-lived,” said Chen Wenjing, associate research director at China Index Holdings. “Homebuyers are deterred by squeezed incomes and the uncertain property market outlook.” The record high youth unemployment, which forced Beijing to suspend the data series once it crossed above 21%, is not helping.
Meanwhile, the latest October money and credit data suggested growth of household medium-to-long term loans, which are mostly mortgages, decelerated in sequential terms in October from September.
In the latest (insufficient) move to prop up the real estate sector, Bloomberg reported that Beijing is planning to provide at least 1 trillion yuan ($138 billion) of low-cost financing to urban village renovation and affordable housing programs. While details of the new plan remain unclear, some economists say it will be even less effective than earlier efforts. The new programs would mostly take place in some of the largest metropolitan areas, outside the low-tier cities where the slump is most severe.
Following the slew of easing announcements on property policy, Goldman economists expect more housing easing measures in coming months, including more relaxation of home purchase restrictions in large cities, among others. However, considering persistent property weakness related to lower-tier cities and private developers, such easing measures may only lead to an “L-shaped” recovery in the sector in coming years. In other words, no recovery.
As is widely known by now, China’s property crisis has engulfed almost all of the largest developers, which have been struggling to repay debts and complete projects since a credit crunch emerged three years ago. China Vanke, one of the country’s few remaining investment-grade builders, saw its dollar bonds plunge in recent weeks on the heels of industry giant Country Garden’s default. Vanke later received an unusually strong show of support from the local government.
“Property remains the biggest drag amid the rising credit risk among developers,” Larry Hu, head of China economics at Macquarie Group Ltd., wrote in a note this week.
As a reminder, two years ago, Goldman calculated that China’s housing market is the world’s single biggest asset class…
… however, after the spectacular implosion of the past two years, it is unclear where it ranks today.
end
CHINA/USA
This will be very problematic for chip maker Applied Materials after the Dept of Justice probe into their shipments of chips to China
(zerohedge)
Applied Materials Plunges After DoJ Probe Report On Shipments To China
FRIDAY, NOV 17, 2023 – 07:45 AM
Shares of Applied Materials tumbled in premarket trading in New York following a Reuters report that disclosed the largest US maker of chipmaking machinery faces a US criminal investigation for allegedly violating export restrictions to China.
The Justice Department is investigating Applied Materials’ dealings with China’s biggest chipmaker, Semiconductor Manufacturing International Corp. One source said Applied Materials sent hundreds of millions of dollars in semiconductor equipment to SMIC without export licenses.
“Applied Materials first disclosed in October 2022 that it received a subpoena from the US Attorney’s Office for the District of Massachusetts requesting information relating to certain China customer shipments,” the company told Bloomberg in an emailed statement.
It added: “The company is cooperating with the government and remains committed to compliance with global laws, including export controls and trade regulations.”
This comes as the Biden administration has expanded US restrictions on advanced chips and chipmaking equipment to China for national security purposes. Also, the DoJ and Commerce departments launched a task force this year to investigate and prosecute violators of export controls. The rules are to prevent China’s military and intelligence capabilities from expanding.
In September, Huawei Technologies Co. shocked Washington by revealing a cutting-edge 7-nanometer processor smartphone in China. Bloomberg broke down the Huawei Mate 60 Pro and found it was equipped with a Kirin 9000s chip manufactured in China by SMIC.
Shares of Applied Materials shares sank 7% in premarket trading.
The report also noted the chipmaking equipment in question was produced in Massachusetts and then shipped to a subsidiary in South Korea, where it was then sent to SMIC, according to the sources familiar with the DoJ’s investigation.
News of the probe overshadowed an earnings report.
Here’s a snapshot of fourth-quarter results:
Adjusted EPS $2.12 vs. $2.03 y/y, estimate $1.99
Net sales $6.72 billion, -0.4% y/y, estimate $6.54 billion
Semiconductor Systems net sales $4.88 billion, -3.1% y/y, estimate $4.77 billion
Applied Global Services net sales $1.47 billion, +3.6% y/y, estimate $1.44 billion
Display and Adjacent Markets net sales $298 million, +19% y/y, estimate $280.3 million
Adjusted gross margin 47.3% vs. 46% y/y, estimate 47%
And the first quarter forecast:
Sees net sales about $6.47 billion, estimate $6.34 billion (Bloomberg Consensus)
Sees adjusted EPS $1.72 to $2.08, estimate $1.84
Sees adjusted gross margin about 47%, estimate 46.7%
Sees adjusted operating expenses about $1.23 billion, estimate $1.21 billion
Wall Street analysts were overwhelmingly pessimistic about the probe (list courtesy of Bloomberg)
Berenberg (Tammy Qiu; buy)
The news of the probe may have a negative read across for semiconductor equipment suppliers — “due to the potential unpredictable impact on their operations and shipments to China in future”
Meanwhile, just like its peers, Applied Materials reported significant revenue from China
Cowen (Krish Sankar; outperform)
For now, view the DoJ investigation as a negative headline
“Investors could view the 2024 growth outlook as being mixed”
Citi (Atif Malik; buy)
“Do not anticipate further government restrictions and assume a worse case fine similar to Seagate’s $300M fine for shipping to Huawei”
Reiterate buy rating as continue to expect recovery in 2024/25
Bloomberg Intelligence (Masahiro Wakasugi)
“Applied Materials could have about 5% of its sales disrupted if US authorities saddle it with additional restrictions on exports to China,” according to Bloomberg Intelligence calculations
“The effect of sanctions could be similar and the long-term impact modest” as the company’s sales to China are comparable to that of its peers
Morgan Stanley (Joseph Moore; equal-weight)
See semicap stocks “somewhat ahead of themselves” after the rally this year
However, Applied Materials’ October quarter was very strong, with strength from China
PT raised to $142 from $139
Beijing will be closely monitoring the events unfolding.
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
ITALY
Last week Moody’s gave a shock to the U.S. Will it deliver a jolt to Italy?
Nov. 16, 2023 at 4:13 a.m. ET
MarketWatch
Italy’s sovereign credit rating is due for a review by Moody’s Investors Service on Friday, with the possibility that the eurozone’s third-largest economy could get downgraded to junk.
Moody’s last rated Italy Baa3 with a negative outlook, the lowest possible investment-grade rating. And in September, Italian Prime Minister Giorgia Meloni rolled out a budget with a looser fiscal stance that includes payroll tax cuts.
Italy’s debt-to-GDP ratio is the second highest in the eurozone, behind only Greece, at 141.7 at the end of 2022, and way above the European Union average of 83.5.
And the Group of Seven member is not likely to grow itself out of the debt burden anytime soon. Fitch, for instance, only forecasts a modest pickup in GDP growth, to 1% in 2024 and 1.3% in 2025, from the acceleration of NextGenerationEU spending.
That said, the other rating agencies over the last month have affirmed Italy at investment grade, and in fact S&P and Fitch have Italy at BBB, which is the second-lowest investment-grade rating.
According to Deutsche Bank, if Moody’s were to downgrade Italy, there would be the widest dispersion between agencies since Ireland nearly a decade ago. That said, Moody’s does have a stricter stance vs. the others on Portugal and Spain, and last Friday gave a negative outlook to the U.S.
The market is not overly concerned at the moment. The gap between the yields on Italian and German 10-year bonds, 179 basis points on Thursday, was as wide as 206.3 basis points in early October, according to Tradeweb.
A view of a cross-border attack tunnel dug from Gaza to Israel.(photo credit: Jack Guez/Pool/REUTERS
END
TUNNEL NEXT TO SHIFA HOSPITAL WITH CONSIDERABLE GUNS AND AMMUNITION
END
Intense negotiations are underway to free the hostages!
(zerohedge/Thursday night)
White House In “Intense Negotiations” To Free Hostages As Dead Israeli Woman Found Near Gaza Hospital
THURSDAY, NOV 16, 2023 – 06:40 PM
The White House has said it is still involved in “intense negotiations” toward securing the release of hostages held by Hamas, however no deal has yet to materialize.
US national security spokesman John Kirby issued an update on Thursday, confirming the US has a “team of the ground” which is working “by the hour” on a potential deal. These back-channel talks have reportedly centered on Qatar, which has served as a mediator with Hamas.
“We are in some intense negotiations; hopefully they’ll come out the right way and we’ll have good news to talk about with multiple hostages getting free,” Kirby told CNN. “But we don’t have a deal right now, and until we do, the less said the better.”
The day prior, on Wednesday, there were widespread – albeit premature – reports that a deal was on the table which would see the release of 50 hostages in exchange for a three-day stoppage in fighting, or temporary truce.
“The deal, under discussion and coordinated with the U.S., would also see Israel release some Palestinian women and children from Israeli jails and increase the amount of humanitarian aid allowed into Gaza,” an official privy to the negotiations said.
But Israel’s defense ministry has said Thursday it is continuing to “mop up” northern Gaza, and there are signs it intends to expand anti-Hamas operations to the south too, where the bulk of the Strip’s civilians have fled.
Qatar has thus far secured the release of a few prisoners, but still Israel has denied there are any plans for a major, multi-day halt in fighting. The IDF has only in the last half-day fully secured Al-Shifa hospital, which it claims was used as a Hamas command center.
But more bad news has emerged concerning the over 230 Israeli and foreign hostages still in captivity. The IDF on Wednesday said that during operations near Al-Shifa, the body of a deceased 65-year old Israeli woman was found in a nearby building.
“The body of the abductee, the late Yehudit Weiss, was recovered by IDF forces from the 603rd Battalion of the 7th Brigade Combat Team from a building near the Shifa Hospital in the Gaza Strip to the territory of the State of Israel,” the IDF said in a statement posted to X.
“In the building where the late Judith was found, military equipment and weapons of the Kalashnikov type and an RPG missile were also found.” The statement detailed further:
“After an identification procedure carried out by medical officials and military rabbis, together with the Institute of Forensic Medicine and the Israel Police, today (Thursday), representatives of the IDF and the police informed the family of the late Judith Weiss, who was kidnapped on Saturday 10/7/23 from her home in Bari. We share in the family’s grief.”
The IDF added that it won’t cease in urgent hostage recovery efforts: “The national mission before our eyes is to locate the missing and return the abducted home.”
Currently, the messaging out of Israeli officials and national media is that Hamas is on the ropes and on the verge of total defeat. But the IDF has suffered over 50 confirmed troop deaths since launching the ground assault – and the real figure could be significantly higher. The vast network of Hamas tunnels under the Strip also presents a monumental military challenge.
[1/3]Jamal Waraqy, 33, a muslim volunteer for the ZAKA search and rescue unit who have been recovering human remains according to jewish religious rules, poses with his colleague Israel Perlshtein in Rehovot, Israel November 16, 2023 REUTERS/Eli Berlzon Acquire Licensing Rights
REHOVOT, Israel, Nov 17 (Reuters) – Jamal Warraqi was among the first emergency rescuers to reach kibbutz Be’eri after Hamas gunmen rampaged through the community in southern Israel on Oct. 7, and the sight of slaughtered families and children is still seared into his memory.
More than a month later, the volunteer first responder remains visibly shaken as he recounts his rush to Be’eri in an ambulance and the bodies lying in the streets along the way.
Unlike most emergency workers called out that day, Warraqi is a Muslim Israeli Arab. He found his experience of Oct. 7 profoundly distressing, but says it also strengthened his belief that human beings must “stop hatred” and learn to live together.
Warraqi is a volunteer for Zaka, a non-governmental rescue and recovery service. Founded in 1995, Zaka is comprised mostly of ultra-religious Jews committed to ensuring that as much of the human body of every victim is buried in accordance with Jewish law. It also has Christian, Druze and Muslim volunteers.
“I saw families, they were slaughtered, a lot of families,” Warraqi told Reuters, standing next to his ambulance.
“I saw a father and mom with three kids, they were tied hands up, hands back … as they were put on their knees in front of each other, then they got shot in the head.”
“When you see such a thing… you just start imagining what happened in there, what, how did they react, who was got killed first, the kids or the parents.”
In the peaceful and leafy Be’eri community, houses were burnt to the ground and families killed in their own houses with a brutality that Warraqi says “has nothing to do with Islam”.
“Our religion, as a proud Arabic Muslim Israeli guy, I’m saying that has nothing to do with our religion,” Warraqi said.
Be’eri was among the hardest hit communities by the Hamas assault on Oct. 7, which Israeli officials say killed 1,200 people, mostly civilians gunned down in their own homes, on the streets or at a dance festival. The attack was the deadliest in Israel’s 75-year-old history.
Surviving residents were eventually evacuated and Israel has since launched a devastating bombardment and ground offensive against Hamas in Gaza that has killed more than 11,500 people.
Warraqi said many Muslims were also killed in the assault, recalling how he took care of two Arab women wearing hijab, shot by the attackers, and three Arab bus drivers from East Jerusalem who got shot in the head.
“That means that they’re (Hamas) not doing this for the country or for religion, they’re just doing this for the hatred,” he said.
Warraqi is still hopeful that Jews, Arabs, Christians and Muslims can learn to live together in Israel, saying “we are all the same”.
“I think Israel learned today how to die together. Now it’s time to learn how to live together … We have to take care of this and we have to stop hatred and start living together.”
Writing by Krisztina Than, Editing by William Maclean
Iran and uSA holding secretive back channelcommications to avoid escalation
(zerohedge)
Iran & US Holding Secretive Back-Channel Communications To Avoid Escalation
FRIDAY, NOV 17, 2023 – 08:50 AM
Iran’s foreign minister has revealed the content of secretive back channel talks with Washington, and this marks rare positive news to come out of a Middle East which remains on knife’s edge amid the Gaza conflict. The very fact of these quiet discussions over red lines suggests both sides are legitimately interested in restraint related to broader tensions outside Gaza. However, a dangerous tit-for-tat has ensued at US bases in Iraq and Syria.
Iran’s top diplomat Hossein Amirabdollahian has said in a fresh interview with FT that Tehran does not want to escalate with Israel and the United States, and doesn’t want to see the war centered on Israel and Hamas spiral further. He said this despite the now daily exchanges of fire involving Hezbollah along the Lebanese border. In the backdrop, Washington is rumored to be very hesitant at this point on censuring Iran over any development on its nuclear program.
However, Amirabdollahian did threaten that if there’s no end to Israel’s attacks on Gaza and the West Bank, in which over 11,300 Palestinians have died, Iran will have to escalate – though he didn’t define what that means.
“Over the past 40 days, messages have been exchanged between Iran and the US, via the US interests section at the Swiss embassy in Tehran,” FM Amirabdollahian said.
“In response to the US, we said that Iran does not want the war to spread, but due to the approach adopted by the US and Israel in the region, if the crimes against the people of Gaza and the West Bank are not stopped, any possibility could be considered, and a wider conflict could prove inevitable,” he emphasized.
Currently, there’s consensus that Iran-backed Lebanese Hezbollah has indeed held back significantly. Many Palestinian supporters hoped that in Secretary-General Hassan Nasrallah’s two speeches during the conflict he would have declared war. But that full war declaration from Hezbollah has not come.
Interestingly, Amirabdollahian described that while Washington is demanding that Tehran “exercise restraint” – the US itself is not, especially given it dispatched two carrier strike groups to the region and a nuclear-powered submarine, along with a troop build-up.
He said the US’s messages to Hizbollah similarly urging restraint “would fail to make the resistance group cautious in its decision-making.”
“Our military officials are of the opinion that the deployment of US aircraft carriers near our region, which makes them accessible, is not a strong point for the US. Rather, it makes them more vulnerable to possible strikes,” Amirabdollahian said.
“The war has already expanded in the region,” he added. And then commented on the Yemeni Houthis, which have several times at this point launched missiles and drones toward Israel.
“The fact that the Yemeni army [Iran-backed Houthi movement] . . . attacks the occupied lands with missiles and drones means the war has begun to expand. The fact that Hizbollah is fighting with a third of the Israeli army shows the war has expanded,” the foreign minister said.
US and Israeli warships have over the past month stepped up their presence particularly in the Red Sea, to monitor for projectiles fired out of Yemen. Already on at least two occasions, a US warship has intercepted hostile projectiles inbound toward Israel. In this ‘limited’ way the Pentagon has already ‘intervened’ in the Israel-Gaza war.
end
The swimming event in Doha should be cancelled
(Realclear wire)
DOHA.QATAR/ISRAEL/USA/GLOBE/THURSDAY
IOC Faces Pressure To Cancel Swimming Event In Doha
More than a half-century ago, the world awakened to the threat of terrorism at major sporting events when eight men in jumpsuits hopped the fence at Munich’s Olympic Village and carried out an attack that would ultimately leave 11 of Israel’s athletes dead, along with a West German policeman and five of the eight assailants.
The attackers were members of the group Black September – an affiliate of the Palestine Liberation Organization. They had wanted to hold Israeli athletes hostage and force the release of 236 prisoners held in Israel and two leaders of the West German Baader-Meinhof terrorist group. But their mission failed, and 20 hours after it began, a botched rescue attempt by German law enforcement led to the shocking carnage, with some of the night’s events playing out on live television.
The Munich massacre that took place in the wee hours of Sept. 5-6, 1972, was a wake-up call for Western governments to the threat of terrorism and the dire need for tight security at international athletic events and greater scrutiny when selecting venues.
After the death of his Olympic teammates, legendary Israeli swimmer Mark Spitz, who won seven gold medals and set seven world records at the 1972 Munich games, was forced to flee Germany in haste, hidden under a blanket and fearing for his life.
For Israeli and Jewish athletes, the ever-present threat is once again blinking red in the wake of the Oct. 7, 2023, attacks on Israel by Hamas that left 1,200 people dead, including women and children, and 239 people held hostage. In February, the World Aquatic Federation is set to host an international swimming competition in Doha, the capital of Qatar. The event would normally determine qualifiers for the 2024 Summer Olympics in Paris. But the International Olympic Committee is now facing pressure to either move the event or change the qualifying regulations so Israeli and Jewish athletes will not be forced to attend or be penalized for skipping.
For the last decade, Qatar has served as an asylum for Hamas’ political leadership, and it has long provided the terrorist organization with financial assistance estimated at roughly $1.8 billion in 2021. Though Qatar is a tiny nation – about twice the size of Delaware – its influence is outsized. It’s home to the state-owned Al Jazeera news network, which often airs anti-Israeli and American angles, as well as a large U.S. airbase that played a crucial role in evacuating U.S. citizens and Afghanistan refugees after the fall of Kabul in 2022.
While Qatar has tried to burnish its image in recent years, hosting the World Cup in 2022 despite an avalanche of criticism from human rights groups, the country has drawn intense criticism in the wake of the attacks on Israel. The outrage stemmed from the Qatari minister of foreign affairs’ statement blaming Israel for the Oct. 7 Hamas assault. That position put Qatar on the same side of the war as Iran and contrasted with the reaction from the United Arab Emirates, Qatar’s rival and Israel’s closest partner in the Arab world. The UAE declared the Hamas attack “a serious and grave escalation” and said it was appalled by reports that “Israeli civilians have been abducted as hostages in their homes.”
Several international officials are now appealing to the World Aquatic Federation to move its world swimming championships from Qatar to a safer venue or change Olympic qualifying regulations to allow Israeli and Jewish athletes to skip the event. Officials from the United Kingdom, Germany, Luxembourg, Slovakia, Azerbaijan, and several Scandinavian countries have pressed the World Aquatic Federation to relocate the swimming event.
Eric Spitz, a Jewish tech and sports businessman whose daughter is a dual citizen of Israel and the United States and a member of the Israeli women’s swim team, is spearheading a coalition demanding a change of venue. The coalition launched a website, www.notodoha.com, and Spitz, who is not related to Mark Spitz, sent a letter, dated Wednesday, to the International Olympics Committee, pressing for a solution that would not force Israeli and Jewish swimmers to jeopardize their safety in Doha.
The letter notes that IOC President Thomas Back, during an event in Tel Aviv last year, apologized for waiting 50 years to commemorate the Israel victims of the Munich Massacre “in a dignified way” and called the event one of “the darkest days in Olympic history.”
“Since no Jews could justifiably feel safe while competing in Doha, we implore you to uphold your core tenant and heed your own words of regret,” the unsigned letter states. “This is your chance to bend the arc of history toward justice. The Olympic movement must be a force for peace, unity, and goodwill, as it was intended to be.”
The “No to Doha” letter notes that the IOC this week, from Nov. 15-17, is scheduled to hold commissions meetings. The commissions, a set of working groups on different topics impacting the games, include an IOC Advisory Committee on Human Rights. The commissions advise the IOC president and executive board on pressing matters on their topic of expertise.
Earlier this week, Bach underscored the need for unity in the sporting world amid increasing global tensions. “The current geopolitical tensions are extremely complex. In such times, the unifying power of sport is more important than ever before,” he told an audience in an opening address at the 2023 International Federation Forum in Switzerland.
“Today, millions of people around the globe are longing for such a unifying force that brings us all together in our so confrontational world,” he continued. “Our role is clear: to unite – and not to deepen divisions. Therefore, we carry an important responsibility – to stand together for the power of sport and to live up to our shared mission to make the world a better place through sport.”
Eric Spitz is now imploring Bach to live up to that promise and ensure that Israeli and Jewish swimmers can continue pursuing their sport without risking their safety or antisemitic harassment by requiring their travel to Doha to qualify for the Olympics.
“For many, athletics serve as a sanctuary from the chaos and turmoil of life,” Spitz wrote in his letter to the IOC. “The Olympic movement, which represents the pinnacle of non-violent competition, fosters a global fellowship bound by an unwavering passion for the sport. At this moment, Jewish and Israeli athletes are navigating some of the most arduous trials of their lives … inaction on the part of the IOC would unfairly remove a source of joy these athletes cling to.”
The IOC did not immediately return RCP’s request for comment.
Qatar and Iran have a long history of discrimination and antisemitic demonstrations against Israeli athletes. In 2013, organizers of a Swimming World Cup in Doha failed to show the Israeli flag in their computer graphics, substituting a white flag and failing to display the name Israel, instead using “IRS” in several of the cup’s races. The international snubbing earned Qatar a formal warning from Federation Internationale de Natation, the world’s governing body for swimming.
David May, research manager for the Foundation for the Defense of Democracies, has written extensively about Qatar’s ties to terrorism, as well as its, Iran’s, and other Arab countries’ mistreatment of Israeli and Jewish athletes.
“The Qataris pride themselves on being the middlemen for a lot of these engagements [with the U.S.], but one common threat is that they are very often in close contact with terrorist groups – not just Hamas or the Taliban,” he told RCP. “They host a variety of terrorist groups, many of whom the Qatari government doesn’t recognize as terrorists, so they’re more than happy to work with them.”
In the 1950s, Israel was a competitive force in the Asian soccer league, but several Asian and Middle Eastern teams refused to play against Israel. Rather than punishing those countries for violating the international sports code of ethics, the league kicked Israel out, May recalled.
During the World Cup, international pressure forced Qatar to allow Israeli visitors and athletes, and in recent years, international bodies have tried to crack down on Doha’s and Tehran’s discrimination against Israeli athletes, May said.
The International Judo Federation in 2021 suspended Iran for forcing athletes to forfeit or lose intentionally to avoid facing Israeli opponents. In February 2018, the United World Wrestling Disciplinary Chamber banned an Iranian wrestler for six months and two years, respectively, for intentionally throwing a match to avoid facing an Israeli opponent. Tunisia’s tennis team was banned from the 2014 David Cup for ordering its players not to compete against an Israeli athlete.
Tunisia has no official diplomatic relations with Israel, and its government is currently debating a bill that would criminalize any normalization of ties with Israel. In 2018, the International Olympic Committee banned Tunisia from hosting the 2022 Youth Olympics after the country banned Israelis from a taekwondo event.
“There’s been several instances of Arab or Muslim athletes who have refused to play against Israeli athletes or refuse to uphold sportsmanship, such as shaking the hands of their opponents or bowing before their opponents depending on the sport,” May said. “To varying degrees, international sporting bodies have punished those athletes violating those codes, but it definitely hasn’t been uniform.”
“There’s been times where Qatar has been a little more forward-leaning regarding Israel,” he added. “But all that is kind of null and void now when you consider the fact that Qatar is funding one of Israel’s biggest enemies and supplying the funds that allow for Israelis to be massacred.”
Susan Crabtree is RealClearPolitics’ White House/national political correspondent.
end
IDF states that it is close to dismantling Hamas’ military system in North Gaza. They will move to the south
to get the hostages and all of HAMAS
(JERUSALEM POST/THURSDAY NIGHT)
IDF says it is ‘close to dismantling’ Hamas military system in north Gaza
Israeli forces have made significant progress and are close to achieving their goal of destroying Hamas’s operations in the northern Gaza Strip.
“We are close to dismantling the military system in the northern Gaza Strip,” IDF Chief of Staff Herzi Halevi said.
“While there remains work to be completed, we are approaching it successfully. The IDF will continue its operations within the Gaza Strip, and as far as we are concerned, more and more regions [will be targeted], systematically eliminating commanding officers and eliminating operatives, and eradicating the infrastructure.”
END
(JERUSALEM POST) Friday morning
Israel decides to transfer fuel to Gaza. Many in Cabinet against the move:
Israel’s government in crisis over transfer of fuel into Gaza
Israel’s war cabinet must be altered to include the head of each faction in the coalition, Finance Minister Bezalel Smotrich demanded in a letter to Prime Minister Benjamin Netanyahu on Friday after the war cabinet approved a transfer of two fuel tankers to the Gaza Strip.
Smotrich wrote that the war cabinet’s actions were “unacceptable” and called on Netanyahu to stop the transfer as soon as possible.
end
updates: Day no 42 of conflict
(Haaratz)
Israel-Hamas War Day 42 |
Israel’s War Cabinet Approves Daily Entry of Two Fuel Trucks to Gaza;
Political Source: Grants Diplomatic Maneuvering Space
Hundreds participate in funeral of fallen soldier Noa Marciano, who was killed in Hamas captivity ■ Seven Palestinians killed in Jenin, Hebron ■ Netanyahu blames Hamas for Israel’s ‘unsuccessful’ efforts to minimize civilian deaths in Gaza ■ Blinken: U.S. told Netanyahu Israel cannot reoccupy Gaza ■ At least 1,200 civilians and soldiers killed since October 7; 239 hostages held in Gaza ■ Hamas-controlled health ministry: 11,240 killed
end
RUSSIA/ISRAEL/HAMAS/THE WEST
(How Russia views the war/Reuters/Jerusalem Post)Russia’s Putin sees upside to Israel’s war with Hamas – analysisPutin is trying to use Israel’s war against Hamas as an opportunity to escalate what he has cast as an existential battle with the West.By REUTERS
Russian President Vladimir Putin chairs a meeting of members of his Security Council and the government and the heads of law enforcement agencies, at the Novo-Ogaryovo state residence outside Moscow, Russia October 30, 2023(photo credit: SPUTNIK/GAVRIIL GRIGOROV/POOL VIA REUTERS)
Russian President Vladimir Putin waited three days before commenting on Hamas’s massacre of Israelis, which happened to take place on his 71st birthday. When he did, he blamed the United States, not Hamas.
“I think that many will agree with me that this is a clear example of the failed policy in the Middle East of the United States, which tried to monopolize the settlement process,” Putin told Iraq’s prime minister.
It was a further six days before Putin spoke to Israeli Prime Minister Benjamin Netanyahu to offer his condolences for the slaughter of around 1,200 Israelis. Ten days after that, Russia said a Hamas delegation was in Moscow for talks.
RUSSIAN PRESIDENT Vladimir Putin in Moscow. (photo credit: Sputnik/Grigory Sysoev/Reuters)
Putin, say Russian and Western policy experts, is trying to use Israel’s war against Hamas as an opportunity to escalate what he has cast as an existential battle with the West for a new world order that would end US dominance in favor of a multilateral system he believes is already taking shape.
“Russia understands that the US and the EU have fully supported Israel, but the US and the EU are now the embodiment of evil and cannot be right in any way,” Sergei Markov, a former Kremlin adviser, wrote in his blog, explaining Putin’s need to differentiate himself.
“Therefore, Russia will not be in the same camp with the US and the EU. Israel’s main ally is the United States, Russia’s main enemy right now. And Hamas’ ally is Iran, an ally of Russia.”
Moscow enjoys an increasingly close relationship with Tehran – which backs Hamas and whom Washington has accused of supplying Moscow with drones for Ukraine which is locked in a grinding war of attrition with Russia.
Hanna Notte, a Berlin-based Russian foreign policy expert, told the Carnegie Russia Eurasia Center she thought Moscow had dropped its earlier, more balanced position on the Middle East and adopted “quite an overt pro-Palestinian position.”
“In doing all of this, Russia understands very well that it aligns itself with constituencies across the Middle East and even beyond – in the Global South, in their views on the Palestinian issue where the Palestinian cause continues to resonate,” she said.
It is precisely those constituencies which Putin is seeking to win over in his drive for a new world order that would dilute U.S. influence.
“The most important way in which Russia stands to benefit from this crisis in Gaza is by scoring points in the court of global public opinion,” said Notte.
‘DOUBLE STANDARDS’
Russian politicians have pointedly contrasted what they say is the carte blanche that Washington has given Israel to bomb Gaza to Washington’s punitive response to Russia’s own war in Ukraine, where it says it does not deliberately target civilians even though thousands of civilians have been killed.
Senator Alexei Pushkov said the West had fallen into a trap of its own making by exposing its own double standards over how it treated different countries depending on its self-interested political preferences.
“The unequivocal support of the United States and the West for Israel’s actions has dealt a powerful blow to Western foreign policy in the eyes of the Arab world and the entire Global South,” Pushkov wrote on Telegram.
Russia also sees the crisis as a chance for Moscow to try to grow its clout in the Middle East by casting itself as a potential peacemaker with links to all sides, said former Kremlin adviser Markov.
Moscow has offered to host a regional meeting of foreign ministers and Putin has said that Russia is well placed to help.
“We have very stable, businesslike relations with Israel, we have had friendly relations with Palestine for decades, our friends know this. And Russia, in my opinion, could also make its own contribution, its own contribution to the settlement process,” Putin told an Arab TV channel in October.
There are potential economic benefits too, said Markov, and the added bonus of drawing Western financial and military resources away from Ukraine.
“Russia benefits from an increase in the price of oil which will result from this war,” said Markov. “(And) Russia benefits from any conflict that the U.S. and EU have to devote resources to because it reduces resources for the anti-Russian regime in Ukraine.”
Alex Gabuev, director of the Carnegie Russia Eurasia Center, said he believed Moscow had tilted its Middle East policy because of the war in Ukraine.
“My explanation is it’s because the war is becoming the organizing principle of Russian foreign policy and (because of) ties with Iran, which brings military materiel to the table. The central Russian war effort is more important than, for example, the relationship with Israel.”
WORSENING TIES
Russia’s ties with Israel, traditionally close and pragmatic, have suffered.
Moscow’s reception of a Hamas delegation less than two weeks after the Oct. 7 massacre angered Israel, prompting it to summon Russia’s ambassador, Anatoly Viktorov, for sending “a message legitimizing terrorism.”
The discontent was mutual; Alexander Ben Zvi, Israel’s ambassador, has been summoned for talks with the Russian foreign ministry at least twice and the two countries’ U.N. envoys have traded harsh words after Moscow’s representative questioned the scope of Israel’s right to defend itself.
Mikhail Bogdanov, one of Russia’s deputy foreign ministers, has said that Jerusalem has stopped routinely warning Moscow of air strikes against Russian ally Syria in advance.
When a since-suspended Israeli junior minister appeared to express openness to the idea of Israel carrying out a nuclear strike on Gaza, Russia said the remarks raised “a huge number of questions” and queried whether it amounted to an official admission from Israel that it had nuclear weapons.
Amir Weitmann, chairman of the libertarian caucus in Netanyahu’s Likud party, has said Israel will one day punish Moscow for its position.
“We’re going to finish this war (with Hamas) … After this, Russia will pay the price,” Weitmann said in a stormy October interview with Russian state broadcaster RT.
“Russia is supporting the enemies of Israel. Afterwards we’re not forgetting what you are doing. We will come, we will make sure that Ukraine wins,” he said.Go to the full article >>
END
ISRAELI SOLDIER SAVED A DEVASTATING ATTACK ON JERUSALEM
WATCH: Israeli officer hunts down terrorist, foiling mass terror attack
During the incident, the 19-year-old Corporal Avraham Patna, was killed.
Police and security personnel at the scene of a shooting attack at a checkpoint near Jerusalem, November 16, 2023(photo credit: Chaim Goldberg/Flash90)
Israel Police released a video on Friday of the IDF and police forces’ efforts to thwart a terrorist attack at a tunnel checkpoint near Jerusalem the previous day.
An IDF soldier from the Erez Battalion identified a suspicious vehicle on Thursday that arrived at the tunnel checkpoint. The soldier stopped the vehicle for inspection and the terror squad inside the vehicle opened fire at the security forces working at the checkpoint.
Israeli forces, which included policemen and Border Guards, reacted quickly and eliminated the terrorists, preventing a much larger attack planned by them.
The footage can be watched below:
Bodycam footage of an Israel Police officer responding to the terror attack at the Minharot checkpoint near Jerusalem, on November 16, 2023 (ISRAEL POLICE)
Afterward, forces located two M-16 rifles, two pistols, hundreds of bullets, and many cartridges.
Corporal Avraham Patna was killed in the incident
During the incident, the 19-year-old Corporal Avraham Patna, was killed. Six others were wounded in light and moderate conditions, Maariv reported. Patna’s funeral will take place on Friday in Haifa.
Dozens came to comfort Patna’s mother and sisters on Thursday, at the Ethiopian community center in Tirat Carmel, his city of residence. His commanders told his family that he “saved Jerusalem,” Walla reported them as saying.Advertisement
“I’m glad he did what he did and saved a lot of people,” said mother Aylanesh. “I would have been happy if he had been saved too in the end, it’s a shame he didn’t save himself too. His loss is very difficult for me, I love him very much. He took care of everything for me, and never quarreled with anyone.”
Israel Police chief Kobi Shabtai met on Friday with the forces who thwarted the attack and said: “You disrupted their plans, as we currently estimate the target was somewhere else, and you prevented an attack on a much more serious scale.”
IDF fighter jets struck several Hezbollah terror targets in Lebanon on Friday, including terrorist infrastructure, a weapons storage facility, and a military structure.The Israeli military also struck a terrorist cell in the area adjacent to Arab al-Aramshe.
END
SYRIA/ISRAEL
Alleged Israeli airstrikes target Damascus
The strikes reportedly targeted the town of Sayyida Zeinab, where Iran-backed militias have a heavy presence.
By TZVI JOFFRENOVEMBER 17, 2023 02:26Updated: NOVEMBER 17, 2023 03:30
An Israeli Air Force F-35 fighter jet flies during an aerial demonstration at a graduation ceremony for Israeli air force pilots(photo credit: REUTERS/AMIR COHEN)
Alleged Israeli airstrikes targeted a number of sites near Damascus on Thursday night, according to Syrian state media.
The strikes targeted the town of Sayyida Zeinab, where Iran-backed militias have a heavy presence, according to the Syrian Capital Voice news site. Footage reportedly from the scene showed a structure on fire.
A series of alleged Israeli airstrikes have targeted sites in southern Syria, the Damascus area, and Aleppo since the war between Israel and Hamas broke out in October. The IDF has taken responsibility for some of the airstrikes reported in southern Syria, but has not responded to the other reports by Syrian media.
Several rockets were fired from Syria toward Israel in recent weeks as well and the IDF said a drone which hit a school in Eilat recently was launched by an Iran-backed group in Syria.
Syria’s President Bashar al-Assad and Iranian President Ebrahim Raisi are pictured during the signing of cooperation agreement in Damascus, Syria, in this handout released by SANA on May 3, 2023 (credit: SANA/HANDOUT VIA REUTERS)
Last week, alleged Israeli airstrikes reportedly targeted the Sayyida Zeinab area, with opposition-affiliated Syrian news sites reporting that casualties were caused in the strikes.
Two weeks before that, alleged Israeli airstrikes killed at least two workers at the Damascus International Airport, according to SANA.Advertisement
The Syrian state news agency SANA reported that the strike caused only material damage and no casualties, with Syrian air defenses responding to the strike
END
Unbelievable: 75% of West Bank Palestinians support Hamas’ attack on Israel Oct 7.
(JERUSALEM POST)
Palestinians in Gaza, West Bank strongly support Hamas, October 7 attack
A total of 75% of respondents agreed with the October 7 attack and 74.7% agreed that they support a single Palestinian state “from the river to the sea.”
Palestinians take part in a protest in support of Hamas, in Hebron, the West Bank, November 17, 2023(photo credit: REUTERS/MUSSA QAWASMA)
After Hamas’ devastating October 7 massacre in which some 1,200 Israelis and foreign nationals were murdered, the globe was divided into people able to condemn the attack and people perceiving the terrorists as “freedom fighters.”
Palestinian society seems much less divided on the issue compared to the rest of the world, according to a November 14 poll by the Arab World for Research and Development. When asked the leading question “How much do you support the military operation carried out by the Palestinian resistance led by Hamas on October 7?” Palestinian responses showed support for the attack.
Palestinians living in the West Bank overwhelmingly answered that they supported the attack to either an extreme or “somewhat” extent (83.1%.) Only 6.9% answered that they were “extremely” or “somewhat” against the attack, and 8.4% expressed that they had no opinion either way.
Palestinians living in the Gaza Strip show a little less consensus but the overall majority supported the attack. A mass of 63.6% said that they supported the attack “extremely” or to a “somewhat” extent. A further 14.4% answered that they did not oppose or support the attack. Showing a greater rift than that of the West Bank, 20.9% of Palestinians living in Gaza opposed the attack to some degree.
The Israel Antiquities Authority works to find remnants of Hamas victims in Kibbutz Be’eri. (credit: Israel Antiquities Authority)
A total of 75% of respondents agreed with the October 7 attack to any extent.
Do Palestinian men and Palestinian women feel differently about the attack?
Very few differences were found in the beliefs between Palestinian women and Palestinian men when it came to supporting the October 7 attack. Men supported the attack to some degree (75.2%) only slightly more than women (74.9%.)
‘In your opinion, what was the main reason for the operation launched by the Palestinian resistance on 7th October?’
When asked the above question, 31.7% of West Bank-based respondents and 24.9% of Gaza-based respondents claimed the reason for the attack was to “free Palestine.” A further 23.3% of West Bank-based respondents and 17.7% of Gaza-based respondents claimed that the reason for the attack was “breaking the siege on the Gaza Strip.”Advertisement
An additional 35% of total respondents claimed that the attack was to “stop the violations of Aqsa”, assumed to refer to the Al-Aqsa mosque where only Muslims are permitted to pray at the site, despite its religious significance for all Abrahamic faiths.
Blindfolded large teddy bears with red paint on them depicting blood and photographs of Israeli children held hostage by Hamas terrorists in Gaza since the October 7 massacre, in Tel Aviv, November 13, 2023. (credit: MIRIAM ALSTER/FLASH90)
Only 0.9% of total respondents believed that Hamas’ motive behind the attack was to “stop the peace process.” A further 0.7% said that they believed the motivation was to “stop the settlement.”
A total of 5.1% of respondents believed that the attack was carried out to “serve Iran’s benefits.”
Support for a two-state solution
When asked “Do you support the solution of establishing one state or two states?” the majority (74.7%) of respondents answered that they support a single Palestinian state “from the river to the sea.”
The support for a single Palestinian state was more commonly held by Palestinians living in the West Bank (77.7%) than Palestinians living in Gaza (70.4%.)
A total of 17.2% of respondents said they supported a two-state solution, with Palestinians in Gaza (22.7%) supporting this solution to a greater extent than Palestinians living in the West Bank (13.3%.)
Only 5.4% of respondents said they would support a “one-state for two peoples” solution.
Who is the fight between?
While the war is said to be between Israel and the Hamas terrorist organization, only 18.6% of respondents have agreed that is the case. The majority (63.6%) feel this is a war between “Israel and Palestinians in general” with a further 9.4% stating that they saw this as a war between “the Western world and the Arab world.”
end
JORDAN/ISRAEL
JORDAN DOES NOT WANT ONE PALESTINIAN TRANSFER TO ITS SOIL. THEY ARE STATING IT IS ISRAEL’S PROBLEM
NOT AN ARAB PROBLEM
(JERUSALEM POST)
Jordan ramps up diplomatic pressure on Israel over Palestinian issue
Prime Minister Bisher Khaswaneh, reflecting growing regional tensions, says any Israeli attempt to relocate Palestinians is as an act of war.
By DAOUD KUTTAB/THE MEDIA LINENOVEMBER 17, 2023 07:05
Demonstrators carry flags and banners during a protest in support of Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Amman, Jordan November 10, 2023.(photo credit: REUTERS/JEHAD SHELBAK)
Jordanian public officials have increased their rhetoric in terms of the kingdom’s relations with its neighboring state, Israel.
The prime minister of Jordan, Bisher Khasawneh, has broken his silence to deliver a blistering message to the Israelis. Khaswaneh said that any Israeli effort to physically attempt to relocate Palestinians from the West Bank, in any form, would be considered an act of war. Addressing members of the parliament, Khaswaneh said that there might be further diplomatic moves to the decision to withdraw the Jordanian ambassador and to deny the reentry of the Israeli ambassador if the war doesn’t end.
Muath Momani, executive director of the Law & Society Institute, told The Media Line that Jordan’s position in support of the Palestinian cause was and remains consistent and clear: “It is certain that Jordan, through its positions in support of the Palestinian cause, has some fears of the forced displacement of Palestinians from their lands. The Jordanian prime minister recently stated that if that happens, then it is war. Jordan will not hesitate to protect the Palestinian people from practices that affect their existence and identity.”
Samar Muhareb, director of the Arab Renaissance Democracy and Development organization, believes that Jordanian officials have been reflecting public sentiment. “The statements of the prime minister and the foreign minister are aimed at breaking the deadlock that has been going on for a month,” she told the Media Line.
Muhareb put the issue in terms of the national interests of Jordan. “The occupiers need to understand the interests of the region, and especially Jordan.” She argued convincingly for an immediate cease-fire and an eventual end to the Israeli occupation while also addressing the Palestinian refugee issue. Muhareb insists that this “is not only a form of solidarity—[but also] what happens in Palestine is an integral part of Jordanian national interest and a source of our country’s stability.”
Demonstrators carry flags and banners during a protest in support of Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Amman, Jordan November 10, 2023. (credit: REUTERS/JEHAD SHELBAK)
Jordan in Palestinians
Ahmad Awad, director of the Amman-based Phenix Center for Economic and Informatics Studies, told The Media Line that the Jordanian position has been clear since the war on Gaza began. “Jordan is not only a neighboring country but is a country that has direct relations with Palestinians and is therefore affected socially [and] economically whenever changes take place in Palestine.”
Awad, who is also a member of the Himam coalition of civil society organizations in Jordan, warned of the danger of any effort at resettling Palestinians in Jordan. “This is a real threat because the far right-wing Israeli government has talked about this, and some Israeli decision-makers are even saying this is a chance to empty the West Bank and Gaza from Palestinians. Therefore, Jordan had to respond to this danger.” Awad says there are many options in dealing with this unprecedented Israeli crime in Gaza.Advertisement
For Jordan, however, agreements with Israel provide badly needed water. The Jordanian monarch, King Abdullah, has succeeded in securing a €900 million grant mainly for the Jordan water carrier project. The project aims to carry water desalinated in the Red Sea to the urban areas in the center of the kingdom.
The war on Gaza is causing major political upheaval in Jordan as the country is witnessing daily demonstrations, protests, boycotts of various Western products, and an unprecedented unity of the society. Jordanians are united behind the need for an immediate cease-fire and Jordan officials have noted that they worry that with the war on Gaza continuing, radicalization is being felt at all levels.
Nevertheless, Tagreed Odeh, a political analyst, argued that Jordanian diplomacy is still taking balanced steps toward what is happening in Gaza. “What the prime minister said is nothing but a reminder to the Israeli side of the content of the peace treaty, which makes any forced displacement a break in the commitments of the peace treaty. Violating the treaty certainly means moving from the stage of peace to a declaration of war.”
Odeh said that Jordan is practicing politics in a wise way that ensures “the safety of Jordan in the first place, and then stability in its position toward the Palestinian issue.”
While there is no sign that we will soon see the cancellation of the Jordan-Israel peace agreement, there is no doubt that the pressure is building up on the government and the palace to do just that.
Jordan is reluctant to give up on its peace deal with Israel; it has both security and social implications, including the issue of water which Jordan badly needs.
Faisal Al Fayez, president of the Jordanian Senate, has said that the issue of the Jordanian-Israel peace agreement is an Arab decision. The Arab League convened an emergency summit in the Saudi capital Riyadh on November 11 but did not release a public statement on the matter due to a lack of consensus among Arab states on the nature of a joint response.
END
YEMEN/ISRAEL/USA
US Warship Intercepts Drone Fired From Yemen Against Israel
FRIDAY, NOV 17, 2023 – 10:10 AM
For merely the second known time since the Gaza War started on Oct.7, a US Navy destroyer in the Red Sea region has intercepted a projectile fired from Houthi rebels in Yemen toward southern Israel.
The Pentagon identified that the USS Thomas Hudner, an Arleigh-Burke class destroyer, intercepted a drone launched from Yemen on Wednesday.
It was last month that for the first time a US warship intercepted missiles fired from Yemen, and since then the Iran-backed Houthies have declared war on Israel.
Pentagon deputy press secretary Sabrina Singh earlier this week announced that US forces and bases in the Mideast region have been attacked 55 times since mid-October, which includes 27 attacks in Iraq and 28 in Syria.
US forces have greatly beefed up their presence in the Central Command (CENTCOM) area of responsibility, and most especially in the Eastern Mediterranean and Red Sea areas.
The Houthis just last week claimed to have downed an American MQ-9 Reaper drone off the Yemeni coast. US officials later confirmed the accuracy of the reports:
An unmanned US military drone was shot down off the coast of Yemen by Houthi forces, a defense official told CNN.
The official said the MQ-9 Reaper drone was operating in international airspace and over international waters when it was shot down. US Central Command is investigating the incident, the official said.
Israel also currently has more warships patrolling the Red Sea region, on high alert for any inbound projectiles. They are monitoring skies over the Red Sea and around Israel after the Yemeni rebel group has vowed to “help the Palestinians to victory.”
The Houthis have been locked in a war with Saudi Arabia (and allies UAE & the US) since 2015. In 2014 the Shia rebel group overran the Yemeni capital of Sanaa, sparking the Saudi-UAE intervention to uphold the pro-Saudi government. Many tens of thousands have been killed over the last half-decade of fighting, with the country also on the brink of starvation.
Houthis published footage of the Reaper drone intercept a week ago…
Given US warships are now actively trying to shoot Yemeni missiles and drones out of the sky, this marks a significant step toward Washington potentially getting sucked deeper into a broader conflict theatre.
END
IRAN/USA/
Iran attacks a USA base near Irbil and yet Biden smiles and gives money to Iran
(zerohedge)
Huge Smoke Plume Billowing From US Base Near Irbil, As Iranian Media Touts Strike
FRIDAY, NOV 17, 2023 – 12:05 PM
Despite reports that behind the scenes the Americans and Iranians are talking ‘de-escalation’ related to the Gaza War, facts on the ground point to anything but…
The above unverified footage, said to show the aftermath of what appears a large attack on a US base in northern Iraq, is widely circulating online Friday. It shows a huge black plume of smoke rising high above the base, as it appears either an aircraft or vehicle suffered direct hit.
“Iraq’s al-Harir airbase hosting US and international forces was targeted with an armed drone, Iraqi Kurdistan’s counter-terrorism service said in a statement on Friday,” regional sources are reporting. Iranian state sources have posted the video.
Semi-official Iranian news source Mehr writes, “The video shows the moments when the Iraqi Islamic Resistance launched a drone attack on the American terrorists’ base at Harir Airport located in Erbil province.”
The White House has long warned it will escalate attacks on “Iranian proxies” if such attacks continue. There has so far been three waves of US airstrikes against Iran-linked targets in eastern Syria, but this supposed “deterrent” has not proven effective in stopping missiles and drones sent by regional militias.
The last 24 hours has also witnessed another Israeli attack on Damascus, for the second time in just over a week. Overnight, Syrian anti-air defenses were active after multiple strikes from Israel.
“At around 2:25 a.m. Friday, the Israeli enemy carried out an aerial attack from the direction of the occupied Syrian Golan, targeting a number of points in the surroundings of Damascus,” a military source told the Syrian Arab News Agency (SANA). “The Army air defense forces responded to the missile aggression and shot down most of them, saying the damage was limited to materials.”
As is typical, Western sources have described the target as a “Hezbolloah arms depot” on the outskirts of Damascus. But over the past month, Israel has also on multiple occasions attacked significant civilian sites as well, especially Damascus and Aleppo international airports.
Meanwhile, President Bashar al-Assad has returned to international headlines this week, after a French court issued an arrest warrant for the Syrian leader, alleging war crimes.
Just like with the International Criminal Court (ICC) and its arrest warrant for Vladimir Putin, this is of course largely symbolic. Assad will certainly not travel to Europe anytime soon. France’s action is summarized in the following:
French judicial authorities issued international arrest warrants for Syrian President Bashar Assad, his brother and two army generals for alleged complicity in war crimes and crimes against humanity, lawyers for Syrian victims said Wednesday. They include a 2013 chemical attack on rebel-held Damascus suburbs.
A victim of the attack welcomed the move as a reminder of the horrors of Syria’s civil war, and urged countries where Assad might travel to arrest him. While he is unlikely to face trial in France, international warrants for a serving world leader are very rare, and send a strong message about Assad’s leadership at a time when some countries have welcomed him back into the diplomatic fold.
In addition to President Assad, the arrest warrants were issued for his brother, Maher Assad, the commander of the 4th Armored Division, and two Syrian army generals, Ghassan Abbas and Bassam al-Hassan, the lawyers said.
(heart inflammation), brain fog, insomnia, blood clots and anaphylaxis as side effects. Pilot Warns of Airline Industry Disaster Due to COVID Vaccines; many pilots are ticking timebombs, not reporting
of cardiac arrests since the advent of the worldwide mass genetic vaccination program. In virtually every case, the COVID-19 vaccination status is not disclosed to the public. With ‘normal’ autopsy???
By Peter A. McCullough, MD, MPH We are witnessing an tsunami of cardiac arrests since the advent of the worldwide mass genetic vaccination program. In virtually every case, the COVID-19 vaccination status is not disclosed to the public. Additionally, the general autopsy can be “normal.” I am commonly asked what should a modern COVID-19 vaccine era car…
‘Anatomic coronary artery disease is highly prevalent in adults and it may be a bystander and not the direct cause of the arrhythmic cardiac arrest. Di Michele et al reported that small micro RNA fragments that are known to regulate genes, and in this circumstance, genes that control cardiac ion channels, do vary up or down in blood and cardiac tissue and help distinguish between a coronary event and a primary arrhythmic event.
Bernini Di Michele A, Onofri V, Pesaresi M, Turchi C. The Role of miRNA Expression Profile in Sudden Cardiac Death Cases. Genes (Basel). 2023 Oct 17;14(10):1954. doi: 10.3390/genes14101954. PMID: 37895303; PMCID: PMC10606010.
At this time it is possible that mRNA and adenoviral DNA vaccines could influence key miRNA’s in the causal pathway to a primary arrhythmic cardiac death in the absence of clinical myocarditis. So if you are involved in a circumstance with a family member or friend with an unexpected cardiac arrest, please push for the fullest autopsy possible. You will only have one shot.’
CAPTAIN Shane Murdock says the air industry is ‘poised on the precipice of disaster’. A pilot for more than 40 years and a qualified air accident investigator, he has found official data that back up his claim of impending global catastrophe. He adds: ‘When correlated, the data indicate there is an enormous problem that is having, and will have, a significant impact on aviation safety worldwide. There is enough evidence to be sending out red flags.’
There have been many tragedies this year. Phil Thomas, a young graduate of the Cadiz, Spain, flight training academy, fell ill and died suddenly in April. There were five pilot incapacitations in March including a British Airways pilot who collapsed and died in Cairo, Egypt not long before he was due to fly.
Pilots are super-fit, so why are so many dying suddenly or collapsing? Cpt Murdock concludes they are suffering severe adverse reactions to the Covid-19 vaccinations, which has myocarditis (heart inflammation), brain fog, insomnia, blood clots and anaphylaxis as side effects.
He thinks some pilots are ticking timebombs and claims many are not declaring ill-health. He said: ‘They are not reporting brain fog, heart flutters and dizzy spells because they don’t want to lose their jobs.’
Aviators have comprehensive annual health checks, or six-monthly if they have been ill. Rules state they can pass only with a less than 1 per cent chance of suffering an illness that could incapacitate them.
How are they passing medicals if they are suffering serious adverse reactions? Last year the global aviation regulator, the Federal Aviation Administration (FAA), changed the electrocardiogram (ECG) markers that measure the ‘PR interval’. This is the time it takes for an electrical impulse to travel from one part of heart to another and is an indicator of heart health. The new limit is 50 per cent longer than the previous limit, and means that if a pilot has developed a heart condition, it could slip past.
It was November 15, 2020, when Australian airlines mandated Covid-19 vaccines for 900 pilots, and all air and ground crew. Pfizer, AstraZeneca, and Moderna were available in Australia.
Today is the third anniversary of that mandate and Cpt Murdock is one of 12 pilots who refused. He was sacked of course, accused of serious professional misconduct, a charge generally reserved for inappropriate sexual behaviour or reckless and dangerous behaviour.
Mr Murdock, 60, who lives near Sydney, Australia, flew as Captain for Virgin Australia for 20 years, and has held a licence since 1984. He also has an MSc in Aviation Human Factors, the science behind how humans interface with machines. He said: ‘Somewhere on the international network daily, you will find a plane has been turned back because of a health emergency. Either a passenger health emergency or crew health emergency.’
When pilots put out a mayday radio call to air traffic control, it is nicknamed a ‘squawk’. They use the code 7700 for all mayday calls which are reserved for serious incidents like pilot incapacitation or an uncontained fire on board. Few scenarios warrant a mayday; passengers and crew must face genuine peril.
There has been an unprecedented rise in the numbers of mayday calls as tracked by a bot set up by the X account @GCFlightAlerts. It posts when a pilot squawks 7700 anywhere in the world.
Between 2018, and 2019, the mayday average was 29.1 per cent of all distress calls. During 2022, mayday calls increased by 272 per cent. In the first three months of 2023, the increase was 386 per cent. The graph shows there was an instant, steep increase when the vaccines were mandated to pilots.
The average age of death in Australia during the pandemic was 85.3 years. The figures did not justify mandating vaccination to healthy, fit, pilots and implementing a no jab, no job policy. It even violated their own guidance: according to FAA rules, no pilot is allowed to take any type of medicine unless it has been approved and in use in the general population for 12 months. Pilots are forbidden to take part in drug trials and all Covid-19 vaccines were allowed under emergency use authorisation. The final phase of the trial finishes this year.
Cpt Murdock also looked at the number of multi-crew licences issued by Australia’s regulator, the Civil Aviation Safety Authority (CASA). They have the authority to impose restrictions on Airline Transport Pilot’s Licences (APTL). A multi-crew licence restricts pilots to operating with multiple crew members and is issued when their medical status shows a possibility that they may become incapacitated whilst flying. CASA monitors and administers medical certification and licensing for all Australian pilots. Freedom of information data shows there has been an unprecedented increase of 126 per cent on limitations.
You would think this would prompt a major review by CASA, but they will do nothing while Australia’s drug watchdog, the Therapeutic Goods Administration (TGA), still endorse Covid-19 vaccination for all. It is a revolving door avoiding responsibility that is familiar to those of us investigating vaccine issues.
Cpt Murdock thinks lack of action can have only one result, and bear in mind we have seen many planes make emergency landings because of pilot incapacitations. He is unequivocal and said: ‘Disasters will occur and both aircrew and the traveling public will die unnecessarily.’
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
END
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 7;30AM//OPENING AND CLOSINGS
EURO VS USA DOLLAR: 1.0866 UP 0.0013
USA/ YEN 149.29 DOWN 1.49 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2439 UP 0.0028
USA/CAN DOLLAR: 1.3720 DOWN .0032 (CDN DOLLAR UP 32 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 3.44 PTS OR 0.81%
Hang Seng CLOSED DOWN 378.63 PTS OR 2.12%
AUSTRALIA CLOSED DOWN .12% // EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG DOWN 378.63 PTS OR 2.12%
/SHANGHAI CLOSED UP 3.44 PTS OR 0.81%
AUSTRALIA BOURSE CLOSED DOWN 0.12%
(Nikkei (Japan) CLOSED UP 160.79 PTS OR 0.48%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 1989.60
silver:$24.04
USA dollar index early FRIDAY morning: 103.98 DOWN 25 BASIS POINTS FROM THURSDAY’s CLOSE.
The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.2135
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.2177)
TURKISH LIRA: 28.70 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.749…VERY DANGEROUS
Your closing 10 yr US bond yield UP 1 in basis points from MONDAY at 4.455% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.609 DOWN 1 in basis points ON THE DAY/12.00 PM
USA 2 YR BOND YIELD: 4.892 UP 5 BASIS PTS.
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY: CLOSING TIME 12:00 PM
London: CLOSED UP 93.28 POINTS or 1.26%
German Dax : CLOSED UP 132.55 PTS OR 0.88%
Paris CAC CLOSED UP 65.51 PTS OR 0.91%
Spain IBEX UP 94,00 PTS OR 0.97%
Italian MIB: CLOSED UP 240.33 PTS OR 0.82%
WTI Oil price 75.02 12: EST
Brent Oil: 79.84 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 90.00; ROUBLE DOWN 0 AND 85//100
GERMAN 10 YR BOND YIELD; +2.5835 DOWN 0 BASIS PTS
UK 10 YR YIELD: 4.1395 DOWN 1 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0904 UP 0.0051 OR 51 BASIS POINTS
British Pound: 1.2456 UP .0042 or 42 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.1320% UP 2 BASIS PTS//
JAPAN 10 YR YIELD: .734%
USA dollar vs Japanese Yen: 149.66 DOWN 1.044 //YEN UP 104 BASIS PTS//
USA dollar vs Canadian dollar: 1.3712 DOWN 0.0040 CDN dollar UP 40 basis pts)
West Texas intermediate oil: 75.82
Brent OIL: 80.50
USA 10 yr bond yield DOWN 1 BASIS pts to 4.441%
USA 30 yr bond yield DOWN 3 BASIS PTS to 4.595%
USA 2 YR BOND: UP 6 PTS AT 4.905 %
USA dollar index: 103.78 DOWN 3 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 28.65 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 90.00 DOWN 0 AND 86/100 roubles
GOLD 1980.85 3:30 PM
SILVER: 23,74 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 2.14 PTS OR 0.01%
NASDAQ UP 4.82 PTS OR 0.03%
VOLATILITY INDEX: 13.89 DOWN 0.43 PTS (3.00)%
GLD: $183.67 DOWN 0.02 OR 0.011%
SLV/ $21.75 DOWN .01 OR 0.046%
end
USA AFFAIRS
USA TRADING IN GRAPH FORM
‘Santa Married Goldilocks’ – Soft CPI Sparks Big Week Of Buying For Bonds, Stocks, & Gold
FRIDAY, NOV 17, 2023 – 04:00 PM
The ‘higher-for-longer’ soft landing economy may be transitioning back to a ‘Goldilocks’ economy of not-too-hot/not-too-cold activity and inflation, that this week, at least, created a particularly attractive backdrop for stocks, but realistically everything just traded together like the ‘QE trade’ – stock sup, bonds (prices) up, gold up, dollar down…
Source: Bloomberg
In fact, as one traders was overheard commenting on the ease with which the markets shrugged off geopolitical fears, a clearly retracting US consumer, and cracks in the labor market, “it’s as if Santa married Goldilocks… everyone’s drinking that kool-aid…”
The ‘seasonal’ ramp arrived right on time…
Source: Goldman Sachs
As Goldman’s Chris Hussey noted, the principal concern of a successfully soft landing economy is that growth takes off again, triggers renewed inflation, and the Fed is compelled to respond with more rate hikes. But this week, that scenario began to look less likely as the latest CPI inflation reading dipped, suggesting that the trajectory for inflation remains benign.
Additionally, on the growth side,
Housing Starts came in stronger than expected;
the Philly Fed improved from a month earlier;
retail sales declined by less than expected;
weekly jobless claims edged up but remain far from any level of pressure; and
Congress passed measures to avert a government shutdown.
All of which saw the macro surprise index trending down…
Source: Bloomberg
…and at the same time, financial conditions getting dramatically looser…
Source: Bloomberg
This helped lift stocks dramatically higher on the week with most of the majors moving systemically higher (S&P, Nasdaq, Dow all up around 2% on the week – but notice basically unch since the CPI spike). Small Caps (Russell 2000) were big winners on the week amid a major squeeze, up over 5% on the week (it second best week of the year)…
The gains – especially in Small Caps – were helped by a massive short-squeeze. ‘Most Shorted’ stocks exploded higher on the CPI print but have faded a biut since in a pattern that looks very familiar…
Source: Bloomberg
We do note that the CPI ramp lifted the Russell above its 50DMA and the the follow-thru pushed it up to its 200DMA which acted as resistance and the index faded from there…
Source: Bloomberg
The Magnificent 7 stocks soared this week breaking out of their down-trending range…
Source: Bloomberg
It was a very mixed week for sectors with Energy swinging around. Everything was higher on the week but Real Estate led while Staples were the ugliest horse in the glue factory…
Source: Bloomberg
It will come as no surprise given the extremely high correlation regime we are in…
Source: Bloomberg
…that bonds were also bid this week with TSY yields tumbling around 20bps as the belly outperformed the wings (notice that today saw a big pivot/curve flattener with 2Y+7bps and 30Y -2bps)…
Source: Bloomberg
2Y yields plunged back below 5.00%…
Source: Bloomberg
The dollar plunged on the week (2nd biggest weekly drop of the year), extending Tuesday’s losses today, and falling into the red for 2023…
Source: Bloomberg
Bitcoin ended the week lower (by around 2%) after once again testng $38,000 ad failing to hold
Source: Bloomberg
WTI ripped higher today after an ugly week (today was the 5th biggest rally day for crude this year as it tried to get back up to its 200DMA), but could not stop oil being down (albeit only modestly) for the 4th straight week (and closing in a bear market, down over 20% from its recent highs)…
After the ramp, Bloomberg headlined that a 1mm barrel production cut is on the table for next week’s meeting. This raises the question – who was front-running that news (and leaked the comment to the FT)?
Gold jumped over 2% higher this week, bouncing perfectly off its 200DMA…
Source: Bloomberg
Finally, could we be heading towards this?
Source: Bloomberg
Squeeze and Seasonals support it, but OpEx gamma unclench could delay the ramp.
EARLY MORNING TRADING//
TUCKER CARLSON
II USA DATA
THREE IMPORTANT FACTS:
1. money market fund inflows continue at a record pace
2. Fed’s bailout fund continues to set records.
3. investors that park their money at the Fed continues to remove dollars from reverse rep funds and now breaking $1 trillion to a level of 912 billion dollars.
Money Market Fund Inflows Continue As Fed’s Bank Bailout Fund Hits Another New High
THURSDAY, NOV 16, 2023 – 04:40 PM
Money-market funds saw inflows for the 4th straight week (since the biggest outflow since Lehman), adding $21.9BN to reach a new record high of $5.73TN…
Source: Bloomberg
In a breakdown for the week to Nov. 15, government funds – which invest primarily in securities like Treasury bills, repurchase agreements and agency debt – saw assets rise to $4.68 trillion, an $18.9 billion increase.
Prime funds, which tend to invest in higher-risk assets such as commercial paper, meanwhile, saw assets climb to $932 billion, a $5.6 billion increase.
Flows into Retail funds continued their seven month streak and institutional funds saw inflows also…
Source: Bloomberg
The resurgence in money-market fund inflows is diverging from bank deposits (which are gently rising on a seasonally-adjusted basis)…
Source: Bloomberg
Meanwhile, as we detailed earlier, the amount of money that investors are parking at The Fed’s reverse repo facility has accelerated below $1 trillion to its lowest since July 2021…
Source: Bloomberg
Demand for the facility, however, has been fading this year as the Treasury ramped up fresh bill issuance, offering an alternative for short-term investors.
It marks a steep decline from a record $2.554 trillion stashed on Dec. 30, and some are starting to worry about the consequences.
Wrightson ICAP economist Lou Crandall said in a note Monday that the Fed should stop paring its bond holdings before the facility is completely emptied to make sure that banks’ cash buffers don’t get too lean and increase pressure on short-term funding markets.
“We think banks should be encouraged to hold deep liquidity buffers, so our preference would be to adopt a generous definition of ‘ample,’” Crandall wrote.
“Surplus cash sitting in the RRP facility can be redeployed by money funds into the repo market in the event of a spike in financing needs.”
Reserve scarcity has caused overnight lending rates to jump in the past, notably in 2019, when the Treasury increased its borrowing and the Fed stopped buying as many Treasuries for its balance sheet.
The Fed’s balance sheet contracted by a huge $45.7BN last week to $7.815TN (the lowest since May 2021). The balance sheet is now down over $1.1TN from its highs, but in context, there’s a long way to go…
Source: Bloomberg
After stalling the prior week, The Fed’s QT program reaccelerated last week, with its securities-held dropping $30.3BN (its lowest since May 2021)…
Source: Bloomberg
Most notably, usage of The Fed’s emergency funding facility for the banks increased to a new record high again, up $7BN to $113BN…
Source: Bloomberg
Equity market cap continued to soar, having re-coupled with its years-long relationship with bank reserves at The Fed…
Source: Bloomberg
Regional banks are shrugging off the fact that are forced to borrow $113BN from The Fed at expensive costs…
Source: Bloomberg
Will there be a reckoning?
END
This is a surprise: housing starts and permits unexpectedly jump in Oct. despite the slump in homebuilder sentiment?
(zerohedge)
Housing Starts & Permits Unexpectedly Jump In October Despite Homebuilder Sentiment Slump
FRIDAY, NOV 17, 2023 – 08:41 AM
Hot on the heels of yesterday’s ongoing slump in NAHB Homebuilder Sentiment, housing starts and building permits were expected to decline in October (as mortgage rates roared higher). But… both permits and starts rose MoM in October, +1.1% MoM and +1.9% MoM respectively (vs -1.4% MoM and -0.6% MoM expected respectively).
However, September’s 7.0% MoM jump in Starts was downwardly revised to just +3.1% MoM and Permits revised down from -4.4% to -4.5% MoM.
Source: Bloomberg
Even with the revisions, the SAARs both increased modestly in October, but remain in a downtrend overall since their peak at the end of 2021…
Source: Bloomberg
Under the hood all segments increased in October with single-family permits rising for the 10th straight month, and multi-family unit starts rising most since May…
Source: Bloomberg
Finally, given the NAHB sentiment, it would appear build permits are set to keep falling…
Source: Bloomberg
Is this good news for The Fed? More supply of houses ‘disinflating home prices’? We’ll see
III) USA ECONOMIC STORIES
US Post Office Loses $6.5 Billion, Postmaster Blames Inflation And Junk Mail
The US Postal Service lost $6.5 billion in its just-completed fiscal year, delivering a blow to the service’s hopes of a financial turnaround.
The Postal Service had projected it would break even in the fiscal year that ended September 30, on its way to annual profits this year and going forward. Its results are particularly disappointing because it received a bump in its revenue earlier this year when shippers shifted package volume away from UPS because of the threat of a strike there.
Postmaster General Louis DeJoy blamed the loss on inflation raising costs for its operations. It also sent printing prices surging, which significantly reduced the amount of junk mail marketers sent via the mail.
The Postal Service reported that revenue from shipping and packages, now the largest segment of its business by revenue, edged up 1% to $31.6 billion, even as the volume fell by 2%. First-Class mail also brought in 2% more revenue, climbing to $24.5 billion, despite a 6% drop in volume. The biggest hit was a $920 million, or 8%, decrease in revenue from marketing mail.
Hoot of the Day
The cost of ink and paper has risen so much that marketers are sending less junk mail.
Less junk mail is the first benefit to inflation that I have come across. But it created a $920 million hole in post office revenue.
Why the post office expected to make a profit is a mystery. The Postal Service reported net income of $56 billion in the previous fiscal year but that was primarily due to the non-cash gain of nearly $57 billion from 2022 legislation that changed the way it accounted for its retiree health care expenses.
Other than a one time accounting gimmick, the Post Office never came close to making money.
CPI Unchanged Thanks to Decline in Energy, but Rent Jumps 0.5 Percent
CPI month-over-month data from the BLS, chart by Mish
A 2.5 percent decline in energy smoothed the CPI. But for the 27th straight month, the cost of rent rose at least 0.4 percent.
endUS investigating anti-Semitic, anti-Muslim discrimination at schoolsLast month, federal prosecutors charged a Cornell University student with allegedly making online threats against Jewish students.By REUTERS
A person holds an antisemitic sign showing a Star of David in the trash at a demonstration against Israel, amid the ongoing conflict between Israel and Hamas, as part of a student walkout by students of New York University, in New York City, U.S., October 25, 2023.(photo credit: REUTERS/SHANNON STAPLETON)
The US Department of Education said on Thursday it has begun investigations of six colleges and one school district over accusations of antisemitic or anti-Muslim discrimination during an ongoing war between Israel and Palestinians in Gaza.
In one such instance federal prosecutors last month charged a Cornell University student with allegedly making online threats against Jewish students at the Ivy League school.
“Hate has no place in our schools, period. When students are targeted because they are—or are perceived to be—Jewish, Muslim, Arab, Sikh, or any other ethnicity or shared ancestry, schools must act to ensure safe and inclusive educational environments where everyone is free to learn,” Secretary of Education Miguel Cardona said in a statement.
The colleges under investigation were listed as Cornell, Columbia University, and the Cooper Union for the Advancement of Science and Art in New York state, Lafayette College and the University of Pennsylvania in Pennsylvania, and Wellesley College in Massachusetts.
The department said it was also investigating the Maize Unified School District in Kansas.New York police officers stand guard as pro-Israel and pro-Palestinians students demonstrate, amid the ongoing conflict in Gaza, at Columbia University in New York City, US, October 12, 2023 (credit: JEENAH MOON/REUTERS)
Antisemitism spikes by 400% since October 7
The advocacy group Anti-Defamation League said antisemitism rose by about 400% in the first two weeks since the Palestinian terrorist group Hamas attacked Israel on Oct. 7, compared with the same period the previous year.
About 190 of the 312 antisemitic incidents tallied by the group were linked to the war between Israel and Hamas. Of those 190, more than half consisted of rallies where the group found “explicit or strong implicit support for Hamas and/or violence against Jews in Israel.”Go to the full article >>
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
USA// COVID//VACCINE/
end
SWAMP STORIES
Outrage Ensues After No Charges Likely In Biden Classified Document Scandal
THURSDAY, NOV 16, 2023 – 08:01 PM
Of course…
Following a ‘thorough investigation,’ special counsel Robert Hur is unlikely to charge anyone in connection to President Joe Biden’s classified document scandal, according to multiple reports citing sources familiar with the matter.
Hur’s report is expected to sharply criticize Biden and his aides for their handling of classified documents – the standard treatment for the protected establishment class whose name doesn’t end in Trump.
This outcome raises obvious questions DOJ sham investigations – for if a Special Counsel’s probe into potential mishandling of sensitive national documents results only in criticism and no legal repercussions, what message does it send about accountability at the highest levels of government?
Hur’s investigation, which began in January following his appointment by Attorney General Merrick Garland, has spanned nearly a year. It has involved interviews with around 100 Biden aides, including the President’s embattled son, Hunter Biden, who himself faces unrelated legal troubles following an indictment on federal gun charges. Biden himself was interviewed last month.
“The president has been interviewed as part of the investigation being led by Special Counsel Robert Hur,” reads the statement from the White House Counsel’s Office spokesperson Ian Sams (the guy who lied and had a meltdown over Hunter Biden’s $260K in Chinese wires).
Of note, Hunter Biden listed Joe’s Wilmington, Delaware home – where a bunch of classified documents were found, as his address when he received above mentioned Chinese wires, due to the Biden family’s dealings with CCP-linked businessmen.
The most glaring problem is that, after they were removed at the end of his term as vice president, the documents were repeatedly moved and divided up. Some were found in the Penn Center office used by Biden in Washington, D.C. Others were found in his garage and reportedly in his library.
Biden made clear from the beginning that he expected the investigation to be perfunctory and brief. He publicly declared that he has “no regrets” over his own conduct and told the public that the documents investigation would soon peter out when it determined that “there is no ‘there’ there.”
Now, however, it appears that a critical claim by the White House in the scandal may not only be false, but was knowingly false at the time it was made. The White House and Biden’s counsel have long maintained that, as soon as documents were discovered in the D.C. office, they notified the national archives. Many asked why they did not call the FBI, but the White House has at least maintained that, unlike Trump, they took immediate action to notify authorities.
However, it now appears that this was not true.
One of the closest aides to Biden and a close friend to Hunter Biden is Annie Tomasini. She referred to Hunter as her “brother” and signed off messages with “LY” or “love you.”
Hur was appointed in January by AG Merrick Garland to lead the classified documents probe. Prior that, he was a Trump-appointed federal prosecutor who has litigation experience involving classified materials.
Notably, the investigation has also involved discussions with Secretary of State Tony Blinken, former White House Chief of Staff Ron Klain, and National Security Advisor Jake Sullivan, as reported by WSJ. These high-level interviews underscore the gravity of the investigation and the potential ramifications it could have had.
The House Oversight Committee wrote a letter to Hur in October requesting information on whether President Biden possessed classified documents related to his son’s foreign business dealings. The classified documents discovered at the Penn Biden Center and Joe Biden’s Delaware residence date back to his vice presidency and decades-long senate tenure.
Kathy Chung, a Defense Department aide and former Vice President Biden aide recommended by Hunter Biden, was one of the individuals who handled classified documents, according to the Oversight Committee. –Daily Caller
As the DOJ investigation winds down, the House Oversight Committee has vowed to continue its quest for clarity and accountability. Former White House Counsel Dana Remus was subpoenaed to appear for a deposition to answer questions about the handling of the classified documents. This move indicates that, while Hur’s investigation may not lead to criminal charges, the political and public scrutiny over the matter is far from over.
So yes, corrupt administration investigates itself – finds no wrongdoing worth pursuing. End of story.
And also of course…
end
Appeals Court Lifts Trump Gag Order In NY Fraud Case While Case Under Review
THURSDAY, NOV 16, 2023 – 06:00 PM
A New York appeals court judge on Thursday temporarily lifted a gag order preventing former President Donald Trump from commenting on court staffers in his civil fraud trial.
Trump was gagged last month by judge Arthur Engoron, and later fined $15,000 for violations after he talked trash on social media about the Judge’s top law clerk.
On Wednesday, Trump’s attorneys filed a lawsuit against the trial judge – arguing that the Engoron had abused his power. In response to the request, Judge David Friedman of the state’s intermediate appeals court scheduled an emergency hearing Thursday afternoon around a conference table in a state appellate courthouse just a few miles from Engoron’s courtroom, where he granted their request.
Ruling at an emergency hearing Thursday, Friedman questioned Engoron’s authority to police Trump’s speech outside the courtroom — such as his frequent gripes about the case on social media and in comments to TV cameras in the courthouse hallway.
Friedman said that while it’s true that judges often issue gag orders, they’re mostly used in criminal cases where there’s a fear that comments about the case could influence the jury. Trump’s civil trial doesn’t have a jury.
Trump lawyer Christopher Kise said after Friedman ruled that the appellate judge “made the right decision and allowed President Trump to take full advantage of his constitutional First Amendment rights to talk about bias in his own trial, what he’s seeing and witnessing in his own trial — which, frankly, everyone needs to see.” –AP
“I don’t see a reason for restrictions because Ms. James is continuing to disparage my client,” said Trump attorney Alina Habba, referring to NY Attorney General Letitia James, who is prosecuting the case.
In staying the order, Trump can now freely comment about the court and its staff while the appeals process plays out.
Separately on Wednesday, Trump’s legal team urged Engoron to stop the case immediately, arguing that his appearance of bias “threatens both Defendants’ rights and the integrity of the judiciary as an institution.”
“This constitutional protection is at its apogee where the speech in question is core political speech, made by the frontrunner for the 2024 Republican presidential nomination, regarding perceived partisanship and bias at a trial where he is subject to hundreds of millions of dollars in penalties and the threatened prohibition of his lawful business activities in the state,” the filing continues.
In short, the entertainment factor with Trump’s NY trial just went up immeasurably.
Target has once again triggered conservative criticism after the retailer rolled out Christmas decorations that some saw as too “woke,” like a black Santa in a wheelchair or a figurine draped in rainbow-colored “pride” paraphernalia.
End Wokeness, a prominent conservative account on X with over 1.8 million followers, shared several photos of Christmas ornaments that are now being offered for sale at Target.
“Target outdid itself this year for Christmas,” End Wokeness wrote in a post on X, with one image showing a black Santa Claus sitting in a wheelchair and another showing a figurine wearing a multi-colored “pride” hat while also holding a rainbow flag.
A number of commenters reacted with criticism and hinted at (or outright called for) a boycott.
“Wow. Just wow. You would think they would have learned from the last time. When will companies finally start to realize it? Go woke, go broke!” one person posted.
“Everyone getting ready to boycott Target again until they go bankrupt,” wrote another.
Other commenters recalled earlier boycott calls after Target rolled out its “pride” clothing line over the summer that included LGBT-themed items meant for children.
“I have not stepped inside one since the tick it underwear debacle. Banned for life,” a commenter wrote, referring to the so-called “tuck-friendly” swimsuit that the big box retailer was offering over the summer for transgender people.
While some conservative commentators claimed the “tuck-friendly” swimsuit was for children, Target executives pushed back on those claims and insisted the item was meant for adults.
Boycott 2.0?
The Minnesota-based retail giant caught flak earlier this year after rolling out its “pride” collection at the beginning of May, offering over 2,000 products, including clothing, books, home furnishings, and calendars, with some of the items targeted at children.
For example, books for kids aged 2–8 had titles like “Pride 1,2,3,” “Bye Bye, Binary,” and “I’m Not a Girl.” Target also suggested “The Pronoun Book” to kids aged 0–3. In home décor, Target offered mugs labeled “Gender Fluid.” It also offered transgender swimsuits for adults with a “tuck-friendly” feature.
The company’s actions sparked considerable negative reactions online, leading to widespread boycott calls and the removal of some of the most controversial items from its shelves.
A former Target executive said that there was one item that sparked the biggest boycott calls.
“I’ve never seen a case where one item, that tuck swimsuit, that’s really what made the difference versus the competitors. That’s where the big mistake [was] made,” former Target Vice Chairman Gerald Storch said in a recent interview.
After Target launched the “pride” clothing line and other items in May, triggering boycott calls, its stock price plummeted from roughly $160 to $130 per share.
The renewed boycott calls come as Target released its third-quarter earnings report, which showed a 4.9 percent decline in sales compared to the comparable quarter last year. This includes a 4.6 percent drop in sales in stores and a 6 percent sales decline online.
Target’s total revenue of $25.4 billion was 4.2 percent lower than last year, with some of the decline due to “higher inventory shrink,” which is code for retail theft.
The company said in a statement that it was offering over 10,000 new items ahead of Christmas, though it did not go into detail other than to say thousands are “must-have gifts” and “exclusive-to-Target items across many categories.” These presumably include the items the firm’s detractors have labeled as “woke.”
“In the third quarter, our team continued to successfully navigate our business through a very challenging external environment,” Brian Cornell, chief executive officer of Target, said in a statement.
Target did not immediately respond to a request for comment from The Epoch Times on the fresh round of boycott calls.
In addition to Target, several other companies, including Bud Light maker Anheuser-Busch, PetSmart, Chick-fil-A, and Walmart, have also faced boycott calls due to their endorsement of the LGBT agenda.
Bud Light faced a flurry of boycott calls after its marketing partnership with Dylan Mulvaney, a male social media personality who identifies as a woman.
Mr. Mulvaney, who has more than 10 million followers on TikTok, posted a series of videos promoting Bud Light and showing off a personalized Bud Light can with his likeness. Conservatives accused the brand of promoting a transgender agenda and called for a boycott.
Singer Kid Rock used Bud Light cans as target practice to express his anger at the promotional campaign, while Florida Governor Ron DeSantis said he would be boycotting Bud Light.
One sign that the boycott against Bud Light was having an effect was that the brand was recently ousted as the top-selling brand in the United States by competitor Modelo.
end
Trump Responds After Appeals Court Halts New York Gag Order
Former President Donald Trump swiftly reacted to an appeals court lifting a gag order in his New York fraud case by saying the judge’s chief clerk is biased and “totally out of control.”
President Trump, the frontrunner for the 2024 Republican presidential nomination, posted on his Truth Social platform several hours after the gag order was paused to criticize Judge Arthur Engoron and his clerk.
“His Ridiculous and Unconstitutional Gag Order, not allowing me to defend myself against him and his politically biased and out of control, Trump Hating Clerk, who is sinking him and his Court to new levels of LOW, is a disgrace,” President Trump wrote Thursday.
Judge Engoron had imposed the order in October after the former president shared a photo of his top clerk on social media. He has fined President Trump a total of $15,000 for twice violating it and warned of more serious consequences for future breaches, including imprisonment.
The judge has already ruled that President Trump and his company, the Trump Organization, engaged in fraud, and the trial largely concerns damages. Attorney General Letitia James is seeking at least $250 million in fines and a New York commercial real estate ban against President Trump and his sons Donald Jr. and Eric Trump.
The New York gag orders will be evaluated by a full panel of appeals court judges, who might reimpose them. But in the interim, the former president can now make comments about the judge’s staff.
Judge Engoron, a Democrat, had argued that his own gag order against President Trump was needed because of alleged attacks and threats against his staffers. He wrote in an order in November that he and his staff have received “threatening phone calls, voicemails, emails, letters and packages.”
“Personal attacks on members of my court staff are unacceptable, inappropriate and I won’t tolerate it,” the judge also said, coming after President Trump criticized his clerk on social media several weeks ago.
“Defendants’ attorneys have made long speeches alleging that it is improper for a judge to consult with a law clerk during ongoing proceedings, and that the passing of notes from a judge to a law clerk, or vice-versa, constitutes an improper ‘appearance of impropriety’ in this case,” the judge also wrote. “These arguments have no basis.”
On Thursday, however, Appellate Division Justice David Friedman wrote that an interim stay in the gag order is warranted due to the “constitutional and statutory rights at issue.” The pause will last until Nov. 27 when a panel of appeals court justices consider the issue, according to the ruling.
He sided with the Trump legal team, who had asked for emergency relief earlier this week, arguing that the gag order violates the former president’s First Amendment right to free speech. “While the desire to protect his staff may seem understandable, the gag orders, as entered, are not narrowly tailored to do so,” the lawyers wrote.
Chris Kise, a Trump attorney, hailed the move in a statement issued on Thursday afternoon. “Fortunately, the constitution and the First Amendment protect everyone, including President Trump,” he told news outlets. “The public will again have full access to what is taking place in this unprecedented trial.”
Ms. James’s office did not seek the gag order, which Judge Engoron imposed on his own initiative.
Other Activity
This week, the Trump team also filed a motion for a mistrial in the case, arguing that Judge Engoron and his principal law clerk exhibited bias that “threatens both Defendants’ rights and the integrity of the judiciary as an institution.”
“In this case the evidence of apparent and actual bias is tangible and overwhelming. Such evidence, coupled with an unprecedented departure from standard judicial procedure, has tainted these proceedings and a mistrial is warranted,” his lawyers wrote in their motion.
A spokesperson for Ms. James’s office later responded to the motion by claiming that the former president is trying to “dismiss the truth and the facts … but the numbers and evidence don’t lie.”
The case is part of a range of legal troubles President Trump faces ahead of the election, though none have diminished his commanding lead over Republican rivals, according to recent polls. He is under indictment in a total of four criminal cases, including two related to his post-2020 election activity. He has pleaded not guilty to all the charges.
The Trump Organization fraud trial is expected to run until mid-December. Judge Engoron issued an order that mandated some of President Trump’s business licenses be dissolved in New York state as punishment, although an appeals court has stalled that ruling.
Reuters contributed to this report.
THE KING REPORT
The King Report November 17, 2023 Issue 7121
Independent View of the News
China’s foreign ministry denounced US President Joe Biden’s comment calling Chinese President Xi Jinping a “dictator.” – When asked by a reporter on Wednesday if Biden still believed Xi was a dictator, Biden stood by the assessment that he made earlier this year. “Look, he is. He’s a dictator in the sense that he’s a guy who runs a country that is a communist country,” Biden said during a news conference, just after he announced agreements on a number of confidence-building measures with his Chinese counterpart. Biden’s remarks came after a four-hour session with Xi — the first meeting between the two in a year. https://t.co/HV8x3Th6Hz
The Big Guy’s patented Joey Baby moment on Thursday night destroyed Team Obama-Biden and the media’s intended narrative that Biden presided over a successful warm & fuzzy summit with Xi.
Now wonder Team Obama-Biden keeps The Big Guy under wraps and must carefully orchestrate and control his public appearances. PS – Xi was still at the summit when Joey Baby unloaded on him!
Xi denies 2027 Taiwan invasion plan, lists conditions for attack https://t.co/jaZP92URgG Xi expressed Beijing’s preference for peaceful annexation of Taiwan. Xi also laid out the conditions under which force would be employed against Taiwan, but the official did not specify what these were…
The Nikkei’s @kenmoriyasu: It looked like a clear win for Xi. He got the U.S. President to stay quiet on Taiwan, in return for establishing some working groups. But there was a twist. Biden calls Xi ‘dictator’ after choreographed country house summit
CIA/NSA Contractor @TonySeruga: Anyone that doubts Xi Jinping not only wants Joe Biden to continue being President is simply not paying attention. Additionally, Xi has committed to doing everything in their control to assure that outcome, all to secure the ‘One-China Policy’… The goal of Xi’s visit was the meetings with the business community to bail China out of their residential and commercial real estate Ponzi scheme, not to mention their ‘fake’ Chinese stock market listed ‘companies’ that U.S. pension funds have invested trillions in, companies that are not subject to the same accounting methods that U.S. companies are. Every one of the 400 businesses that paid $40,000 to be at that dinner, gave Xi Jinping a standing ovation…
GOP Sen. @SenTomCotton: The question is not whether the summit today between President Biden and Xi was bad for America, but if it was catastrophic. Just another example of this administration doing everything it can to appease China. https://t.co/6onpfXT3bY
By an 87-11 vote, the US Senate passed the House’s stopgap spending bill that will keep the US government open through January. Congress is now on Thanksgiving Break.
Walmart reported EPS: $1.53 vs $1.52 exp.; and revenue: $160.80 vs $159.72 exp. Walmart tumbled as much as 8.4% in pre-NYSE trading because WMT CFO David Rainey warned, “We are more cautious on the consumer than we were 90 days ago at this time.” Rainey added that there was a “sharper falloff” in sales during the final two weeks of October. However,, November has a good start due to promotions and early holiday shopping. “But, there is still pressure on the consumer.” Comp sales ex-fuel rose 4.9% for the three months that ended in late October.
US Initial Jobless Claims hit its highest level (231k, 220k exp.) since August. Continuing Claims hits the highest level (1.865m, 1.843m exp.) in two years (1.954m 11/16/21).
Defensive asset allocation appeared on Thursday. Stocks declined; bonds rallied smartly; gold soared while industrial commodities tanked.
@jessefelder: ‘David Einhorn’s Greenlight Capital cut its stakes in its top two holdings and instead plowed millions into gold in Q3. The fund now has a bigger stake in GLD than at any prior point.’https://t.co/STA4wsvQRL
The US is at an undeterminable stage of a debt crisis. At some point in the future, there will be a flight from US bonds into real assets. We have an investment position in gold and gold shares. If the Fed cuts rates in the coming months, an increasing number of investors will move into gold. If the Fed & Treasury lose control of the US bond market, there will be panic buying of precious metals.
Ergo, it is very prudent to have precious metal investments/insurance and plans to jump in more heartily at the proper time.
WSJ News Exclusive: Wells Fargo is struggling with its regulatory obligation to monitor financial crime, the latest challenge in the bank’s years long effort to recover from a series of scandalshttps://t.co/zPCgyaLcQT
ESZs opened sharply lower on Wednesday night but rallied to a small gain at 19:20 ET. ESZs then sank from 4519.25 to 4507.00 at 21:05 ET. ESZs then steadily rallied until the 1 ET Nikkei close. ESZs then vacillated in an 8-handle range until they broke lower when the US repo market opened at 7 ET.
After hitting a low of 4508.00 at 8:14 ET, ESZs gyrated wildly. They hit a daily high of 4526.25 at 10 ET but sank to 4501.75 at 11:38 ET. Fed rate-cut bulls were in a conflict with recession angst investors.
The usual suspects, unconcerned about the consequences of recession, aggressively played for the afternoon rally. ESZs hit 4519.00 at 12:43 ET. Sellers reappeared; ESZs fell to 4506.50 at 13:48 ET. Fed rate-cut bulls will not be easily deterred; so, they bought ESZs up to 4518.75 at 14:50 ET. After a dip to 4512.00, ESZs commenced the last-hour rally five minutes early.
The last-hour rally struggled to gain traction until ESZs spiked higher after 15:45 ET.
Israel ordered the evacuation of south Gaza after it gained full control of Al-Shifa Hospital in Gaza City.
@EylonALevy: Hamas hid missiles under a little girl’s bed! Hamas has spent 16 years embedding itself under people’s homes, schools, hospitals, and mosques. We are exposing its war crimes. Dismantling its terror state. Ending its reign of terror. https://t.co/oHyx6qu4Rd
We saw a Black Files Declassified segment on the SciFi Chanel yesterday that claims the US was far ahead of China and Russia in hypersonic missile research two decades ago, but US establishment geniuses tabled the program to focus on the ‘War on Terror.’ Now, the US lags China & Russia.
@RNCResearch: Biden says he discussed fentanyl with Xi Jinping, then goes off script: “I know two people near where I live — their kids, literally, they woke up dead.” Biden didn’t say a word about the fentanyl being trafficked across the open southern border every single day. https://twitter.com/RNCResearch/status/1725156440896074052
Today – The absence or presence of defensive asset allocation will be a big factor. The usual suspects will play for the Friday Rally. Fed rate-cut bulls will remain jiggy until something disabuses them of the notion of buying equities into a recession. ESZs are +3.00 and USZs are -1/32 at 20:10 ET.
Expected economic data: Oct Housing Starts 1.35m, Permits -1.45m; Boston Fed Pres Collins 8:45 ET, Fed VCEO for Supervision Barr 8:45 ET, SF Fed Pres Daly 9:30 ET; Chicago Fed Pres Goolsbee 9:45 ET
S&P 500 Index 50-day MA: 4338; 100-day MA: 4407; 150-day MA: 4342; 200-day MA: 4265 DJIA 50-day MA: 33,836; 100-day MA: 34,304; 150-day MA: 34,074; 200-day MA: 33,831 (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 4386.49 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 4482.37 triggers a sell signal
@TomFitton: CORRUPTION: Biden DOJ won’t prosecute Biden for the same document “crimes” for which they are trying to jail Trump. @WSJ report: “Biden Expected to Face Harsh Criticism in Classified-Document Probe Special counsel isn’t likely to bring a criminal case over handling of records from Biden’s time as vice president and in the Senate”
@GOPoversight: Our investigation has revealed key facts that contradict the White House’s and President Biden’s personal attorney’s narrative about the discovery of classified documents found at Penn Biden Center.The timeline begins in early 2021, not in November 2022 as alleged by the Biden team.The classified documents were kept in unsecured locations. President Biden used significant federal resources, including five White House employees and a Department of Defense employee, to access and secure items at the Penn Biden Center. Additionally, Special Counsel Hur has denied providing information to our committee about whether any of the classified documents mishandled by President Biden involved countries or individuals that had financial dealings with Biden family members or their related companies. This case is not closed. @RepJamesComer has issued a subpoena and requested multiple transcribed interviews with current and former White House staff involved in this scandal. Accountability is here.
Axios: Nikki Haley and Jamie Dimon hold private convos on the economy Dimon admires Haley’s grasp of the economy, and her recognition of the role that business and government can play in driving growth by working together, the source said… https://www.axios.com/2023/11/14/nikki-haley-republicans-jamie-dimon-economy
@MZHemingway: Democrat Jamie Dimon, Establishment Republicans lining up behind Nikki Haley as best way to take back control of GOP for neocons.
Pundits have labeled Nikki Haley ‘Hillary Clinton lite’ over her bombastic style and her advocacy to engage in military action. Haley rhetoric invites criticism; and she’s getting it.
Trump super PAC targets DeSantis with $23 million in negative ads compared to $6 million against Bidenhttps://trib.al/ot0zFCD
Biden joins Gwen Stefani on stage and says Gavin Newsom ‘could have the job I’m looking for’https://t.co/MxipdSMw6I
Secret Service for Biden’s granddaughter shoots at car thieves in D.C. Gun laws dictate you can only shoot in self-defense of your life, even for federal law enforcement, plus the crime spike in Washington – I emailed Anthony Guglielmi, the spokesman for the United States Secret Service (USSS), and asked: Can you explain why an agent fired to protect property? Guglielmi sent me the public statement. I followed up: I asked genuinely if you could direct me to the policy or law allowing for federal agents to fire in defense of property because my readers keep asking…” Guglielmi replied in part that the “encounter” is “under investigation.”… https://www.emilypostnews.com/p/secret-service-for-bidens-granddaughter
House offices locked down as lawmakers are evacuated from DNC protest – Politico The Capitol Police said in a statement that six officers were treated for injuries “ranging from minor cuts to being pepper sprayed to being punched.” One protester was arrested for an assault on an officer, they said… IfNotNow, which led the protest along with other left-wing and pro-Palestinian groups, said in a statement Thursday morning that over 90 protesters were injured in the clashes… One House Democrat who was present at the DNC told Axios it “scared me more than January 6,” recounting that they were about to leave and return to the Capitol when police told them not to exit… https://t.co/GEKWQiZNIm
GOP Sen. @TomCottonAR: Biden admin must use every law-enforcement tactic against these pro-Hamas insurrectionists that it has used in the January 6 cases. Track them down, arrest them, convict them, and lock ‘em up.
@exjon: AP Stylebook editors staying up late to decide if this riot is “the language of the unheard” or a “threat to democracy.”
NBC: Alleged Russian smuggling network charged with sending weapons components from the U.S. to Ukraine – An unsealed indictment accuses two men and one woman of shipping electronics around the world so it could then be sent to Ukraine to help manufacture weapons… https://t.co/cNY8hXDb7g
@CitizenFreePres: (GOP Rep) Chip Roy is going scorched earth on the GOP for getting nothing done during the Biden years:“One thing. I want my Republican colleagues to give me one thing. One. That I can go campaign on and say we did.”https://twitter.com/CitizenFreePres/status/1724851228989882371
Builders of J6 gallows remain unidentified while FBI and DOJ continue to pursue other defendants Recently disclosed footage clearly shows a team of five individuals building the infamous gallows on the National Mall on January 6… Despite the full resources of law enforcement being deployed against thousands of individuals for participation in January 6—many charged with only misdemeanors—the builders of the gallows remain unidentified… (The FBI does not want to find and identify them.) https://justthenews.com/government/federal-agencies/j6-gallows-builders-remain-unidentified-while-fbi-and-doj-continue
@nypost; A FedEx tractor-trailer was blocked by several cars in a Memphis, Tennessee, intersection before dozens of people pillaged the back of the truck for packages, leaving boxes discarded all over the road during the brazen weekend theft. https://trib.al/m6xPZdX
Daily Mail: Las Vegas cops release two images of teen thugs wanted for murder of 17-year-old Jonathan Lewis – as DA defends decision to try 13-year-old among eight others arrested as an adult Jonathan Lewis, 17, was set upon by a mob of 10 on November 1. He died in hospital on November 7 – and eight arrests and charges were announced… (US MSM mum because, well you know.) https://www.dailymail.co.uk/news/article-12757417/Las-Vegas-teen-thugs-wanted-murder-Jonathan-Lewis.html
Benjamin Netanyahu @netanyahu rebukes Justin Trudeau: It is not Israel that is deliberately targeting civilians but Hamas that beheaded, burned and massacred civilians in the worst horrors perpetrated on Jews since the Holocaust. While Israel is doing everything to keep civilians out of harm’s way, Hamas is doing everything to keep them in harm’s way. Israel provides civilians in Gaza humanitarian corridors and safe zones, Hamas prevents them from leaving at gunpoint. It is Hamas not Israel that should be held accountable for committing a double war crime – targeting civilians while hiding behind civilians. The forces of civilization must back Israel in defeating Hamas barbarism.
@CurtisHouck: WATCH: CBS’s Gayle King LECTURES the father of an eight-year-old Israeli girl being held hostage by Hamas that “innocent children in Pales –Palestinians…are dying” too just as “innocent Israeli children” and, b/c of “politics,” “no one seems to be able to say enough, stop.” https://twitter.com/CurtisHouck/status/1724879114291524044
@megynkelly: This is disgusting. How dare she try to get the father of an 8-year-old Israeli hostage to comment on the Palestinian children (who are suffering bc of Hamas, not Israel) as if “well, violence on both sides!” Show some damn sensitivity to a grieving dad.
@Reuters: Israel says the body of an Israeli woman, one of around 240 hostages taken by Hamas, was found near Al Shifa hospital in Gaza
House Republicans launch investigation into whether Code Pink – the rabble-rousing activists who have shut down hearings and demanded Pentagon budget be cut – are secretly funded by the Chinese Communist Partyhttps://trib.al/ZS08cn7
The cries are getting louder for a so-called ceasefire with the Israeli/Gaza war that started October 7th. There is more proof coming out that Hamas is using hospitals and other civilian areas to conduct war while holding Israeli hostages. That does not seem to matter much to the people demanding the killing be stopped. Even the UN, which is notoriously against everything Israel, has passed a resolution demanding a ceasefire in Gaza. Meanwhile, reports fighting on the Israel/Lebanon border with Hezbollah is at a point not seen in nearly two decades. Hezbollah is backed by Iran and is much better trained and equipped than Hamas in the south. Is this the calm before the WWIII storm or will the ceasefire put an end to the fighting?
It is really starting to look like the Democrat party is maneuvering to dump Joe Biden in 2024 and replace him with California Governor Gavin Newsom. New Dem rules established in 2022 say they can replace any presidential candidate they want under certain circumstances–without any primaries. Even Joe wants Gavin to have his job. Seriously, Biden said this. Greg Hunter will explain.
People do not realize just how weak the U.S. financial system really is. Moody’s just gave a big warning that it may downgrade the federal government’s AAA credit rating. Could that be a disaster for interest rates and Treasury Bond sales? One financial expert contends U.S. Treasury Bonds are not safe. Meanwhile, the Pentagon has just failed its 6th audit in a row, and there are trillions of dollars “missing.” Sound familiar? Dr. Mark Skidmore and Catherine Austin Fitts brought the problem of “Missing Money” up years ago, and now it’s hitting the mainstream. Is this the tip of the financial iceberg we are about to hit as the exploding federal debt goes out of control?
There is much more in the 59-minute newscast.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up for 11.17.23.
Renowned biotech analyst Karen Kingston will be the guest for the Saturday Night Post. She will talk about people waking up to the CV19 vax crimes and tell you how people will start suing the vax makers who killed and injured people on purpose.
AM2013.95
![posts[i].image.ImageName (photo credit: SPUTNIK/GAVRIIL GRIGOROV/POOL VIA REUTERS)](https://images.jpost.com/image/upload/c_fill,g_faces:center,h_537,w_822/561147 "Russian President Vladimir Putin chairs a meeting of members of his Security Council and the government and the heads of law enforcement agencies, at the Novo-Ogaryovo state residence outside Moscow, Russia October 30, 2023")
RUSSIAN PRESIDENT Vladimir Putin in Moscow. (photo credit: Sputnik/Grigory Sysoev/Reuters)
Courageous Discourse™ with Dr. Peter McCullough & John Leake
![posts[i].image.ImageName (photo credit: REUTERS/SHANNON STAPLETON)](https://images.jpost.com/image/upload/c_fill,g_faces:center,h_537,w_822/563559 "A person holds an antisemitic sign showing a Star of David in the trash at a demonstration against Israel, amid the ongoing conflict between Israel and Hamas, as part of a student walkout by students of New York University, in New York City, U.S., October 25, 2023.")
harveyorganblog.com 
