GOLD PRICE CLOSED: DOWN $4.15 TO $1977,95

SILVER PRICE CLOSED: DOWN 26 CENTS AT $23.51

Access prices: closes 4: 15 PM

Gold ACCESS CLOSE 1977.35

Silver ACCESS CLOSE: 23.41

NOV 17

Shanghai Gold Benchmark Price

USD oz gram kilo tola

AM2031.37

PM2023.90

Historical SGE Fix

SHANGHAI GOLD PREMIUM OVER NY: 51 DOLLARS

Bitcoin morning price:, 37,138 UP 674 DOLLARS

Bitcoin: afternoon price: $36,464 UP 531. dollars

Platinum price closing $923/90 UP $24.95

Palladium price; $1087.750 UP $32.25

END

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

I will now provide gold in Canadian dollars, British pounds and Euros

4: 15 PM ACCESS

*CANADIAN GOLD: $2,714,35 UP $2.05 CDN dollars per oz( * NEW ALL TIME HIGH 2,782.61//OCT 272023)

*BRITISH GOLD: 1580.95 DOWN 8.16 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17) OCT 2/2023

*EURO GOLD: 1807.10 DOWN 7.95 euros per oz //* (NEW *ALL TIME HIGH/CLOSING//1898.24)//high.* OCT 27.2023

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: NOVEMBER 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,981.600000000 USD
INTENT DATE: 11/17/2023 DELIVERY DATE: 11/21/2023
FIRM ORG FIRM NAME ISSUED STOPPED

190 H BMO CAPITAL 8
363 H WELLS FARGO SEC 9
435 H SCOTIA CAPITAL 1

TOTAL: 9 9
MONTH TO DATE: 1,980

TOTAL: 2 2
MONTH TO DATE: 1,971

JPMorgan stopped 0/9 contracts.

FOR NOV.:

GOLD: NUMBER OF NOTICES FILED FOR NOV/2023. CONTRACT: 9 NOTICES FOR 900 OZ or 0.02799 TONNES

total notices so far: 1980 contracts for 1980 oz (6.1586 tonnes)

FOR NOV:

SILVER NOTICES 0 NOTICE(S) FILED FOR NIL 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 $4.15//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MASSIVE DEPOSIT INTO THE GLD: 12.98 TONNES

INVENTORY RESTS AT 883.43 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 26 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1,832,000 OZ OF SILVER FROM THE SLV////

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 437.104 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A STRONG SIZED 1370 CONTRACTS TO 133,594 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS STRONG SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY $0.06 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD SOME SPEC SHORT COVERING EPISODE IN FRIDAY’S COMEX TRADING.. TAS ISSUANCE WAS A HUGE SIZED 774 CONTRACTS. THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 754 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.06). BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A STRONG SIZED GAIN OF 615 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 755 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 150,000 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 4.315 MILLION OZ + 1.245 (EX. FOR RISK) = 5.560 MILLION OZ.

//HUGE SIZED COMEX OI LOSS/ HUGE SIZED EFP ISSUANCE/VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 757 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED A HUGE 674 CONTRACTS (the cme will no longer provide preliminary no to be except through a paywall)

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS NOV. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF NOV:

TOTAL CONTRACTS for 14 days, total 5893 contracts: OR 29.465 MILLION OZ (420 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 29.465 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. 29.465 MILLION OZ (GOING TO BE QUITE SMALL THIS MONTH)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1370 CONTRACTS WITH OUR TINY LOSS IN PRICE OF $0.06 IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE 759 EFP ISSUANCE CONTRACTS: 759 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 150,000 OZ QUEUE JUMP

NEW STANDING 4.315 OZ + 1.245 MILLION OZ EXCHANGE FOR RISK: NEW TOTAL 5.560 MILLION OZ/// /// WE HAVE A TINY SIZED GAIN OF 59 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 759 CONTRACTS//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION. THE NEW TAS ISSUANCE FRIDAY NIGHT A HUGE (1781) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 0 NOTICE(S) FILED TODAY FOR NIL OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 943 CONTRACTS TO 487,533 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799733 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 2,063 CONTRACTS

WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 943 CONTRACTS) DESPITE OUR $1.85 LOSS IN PRICE//FRIDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR NOV. AT 4.3514 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 24,400 OZ QUEUE JUMP + TODAY’S 500 CONTRACT ISSUANCE OF EXCHANGE FOR RISK FOR 1.552 TONNES// // EXCH FOR RISK PRIOR: 3.8125= NEW EX. FOR RISK TOTAL:5.3645 TONNES/ // TOTAL GOLD STANDING FOR NOV: 6.7122 TONNES + 5.3645 TONNES (EX. FOR RISK) = 12.0767 TONNES // ALL OF..THIS HAPPENED WITH OUR $1.85 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING.WE HAD A FAIR SIZED GAIN OF 3184 OI CONTRACTS (9.903 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2063 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 487,533

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1120 CONTRACTS WITH 943 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 2063 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1120 CONTRACTS OR 3.483 TONNES. WE HAD 500 CONTRACT EXCHANGE FOR RISK 1.552 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1740 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2063 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (943) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1120 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR NOV. AT 4.3514 TONNES FOLLOWED BY TODAY’S 24,400 OZ QUEUE JUMP : NEW STANDING 6.7122 TONNES + 5.3645 TONNES EXCHANGE FOR RISK PRIOR /THUS NEW TOTAL FOR GOLD STANDING: 12.0767 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” ON THURSDAY //4) FAIR SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 1740 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: 42,459 CONTRACTS OR 4,245,900 OZ OR 132.06 TONNES IN 14 TRADING DAY(S) AND THUS AVERAGING: 3032 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 14 TRADING DAY(S) IN TONNES 132.06 TONNES

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

THUS EFP TRANSFERS REPRESENTS 132.06/3550 x 100% TONNES 3.71% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:. 276.50 TONNES (STRONG AGAIN/

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

MAY: 250.15 TONNES (NOW DRAMATICALLY INCREASING AGAIN)

JUNE: 247.54 TONNES (FINAL)

JULY: 188.73 TONNES FINAL

AUGUST: 217.89 TONNES FINAL ISSUANCE.

SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC. 175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022 247.25 TONNES //FINAL

FEB: 196.04 TONNES//FINAL

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

APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)

MAY: 247.44 TONNES FINAL//

JUNE: 238.13 TONNES FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

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

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

DEC: 185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

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

FEB: 151.61 TONNES/FINAL

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

APRIL: 197.42 TONNES

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

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)

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

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

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

NOV. 132.06 TONNES//

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF SEPT. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF MAY HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF JUNE., FOR BOTH GOLD:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (SEPT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.Today, we had the open interest at the comex, in SILVER FELL BY A GOOD SIZED 1370 CONTRACTS OI TO 133,594 AND FURTHER FROM 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 755 CONTRACTS

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

DEC 755 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 755 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1370 CONTRACTS AND ADD TO THE 755 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A STRONG SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 615 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 3.075 MILLION OZ

OCCURRED WITH OUR $0.06 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING/SUNDAY NIGHT

SHANGHAI CLOSED UP 13.95 PTS OR 0.46% //Hang Seng CLOSED UP 323.88 PTS OR 1.86% /The Nikkei CLOSED DOWN 197.17 PTS OR 0.59% //Australia’s all ordinaries CLOSED UP 0.11 % /Chinese yuan (ONSHORE) closed UP AT 7.1722 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1773 /Oil UP TO 77.05 dollars per barrel for WTI and BRENT DOWN AT 81.95/ Stocks in Europe OPENED ALL MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

a)NORTH KOREA/SOUTH KOREA
outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 943 CONTRACTS TO 487,553 DESPITE OUR LOSS IN PRICE OF $1,85 WITH RESPECT TO FRIDAY TRADING.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 2063 EFP CONTRACTS WERE ISSUED: : DEC 2063 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2063 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1120 CONTRACTS IN THAT 2063 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 943 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $1.85//FRIDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A FAIR SIZED 1740 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 (12.0767 TONNES ( NON ACTIVE MONTH)

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

DEC 2021: 112.217 TONNES

NOV. 8.074 TONNES

OCT. 57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE: 72.289 TONNES

MAY 5.77 TONNES

APRIL 95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022 17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT. 38.1158 TONNES

OCT: 77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL YEAR 656.076 TONNES)

2023:

JAN/2023: 20.559 tonnes

FEB 2023: 47.744 tonnes

MAR: 19.0637 TONNES

APRIL: 75.676 tonnes

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

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

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

SEPT: 15.281 TONNES FINAL

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

NOV: 6.7122 TONNES + 5.3645 EX. FOR RISK = 12.0767 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $1.85) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR SIZED GAIN OF 3,184 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A SMALL T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING. THE T.A.S. ISSUED ON FRIDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED SOME SPECULATOR SHORT COVERING

WE HAVE GAINED A TOTAL OI OF 9.906 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 24,400 OZ QUEUE JUMP //NEW TOTALS STANDING:6.7122 TONNES + 1.552 TONNES exchange for risk today +3.8125 EXCHANGE FOR RISK/PRIOR; TOTAL EX. FOR RISK : 5.3645 TONNES/// NEW TOTAL STANDING: 12.0767 TONNES ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $1.85. 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 2064 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 1120 CONTRACTS OR 112,000 OZ OR 3.075 TONNES.

Estimated gold volume today:// 205,333 poor

final gold volumes/yesterday 159,051

//speculators have left the gold arena

NOV 20

/ /// THE NOV. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	nil oz .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	9 notice(s) 900 OZ 0.0311 TONNES
No of oz to be served (notices)	178 contracts 17800 oz 0.5536 TONNES
Total monthly oz gold served (contracts) so far this month	1980 notices 198,000 oz 6.1586 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposit:

total dealer deposits: 0 oz

customer deposits: 0

total customer deposits: nil oz

we had 0 customer withdrawals

total withdrawals nil oz

Adjustments; 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR NOV.

For the front month of NOVEMBER we have an oi of 187 contracts having GAINED 2 contracts. We had 242 contracts filed on FRIDAY, so we GAINED 244 contracts or an additional 24,400 oz will stand for delivery at the comex in this NON active delivery month of NOVEMBER Our short speculators have been met with physical delivery demands by the bank. The only way they can obtain gold is through these EFP’s where delivery is taken in London on a T + 2 basis.

December LOST 7717 contracts DOWN to 203,170 contracts. The Dec OI is unusually high with less than two weeks before FDN

JAN. gained 10 contracts RISING TO 2479 contracts.

We had 9 contracts filed for today representing 900 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 9 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 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 (1980 x 100 oz ), to which we add the difference between the open interest for the front month of NOV. (187 CONTRACTS) minus the number of notices served upon today 9 x 100 oz per contract equals 215,800 OZ OR 6.7122 TONNES + 1.552 TONNES EX FOR RISK TODAY+3.8125 TONNES EX. FOR RISK/PRIOR: total ex. for risk = 5.3645//THUS TOTAL STANDING: 12.0767 TONNES ( CME RE-corrected)

thus the INITIAL standings for gold for the NOV. contract month: No of notices filed so far (1980) x 100 oz + (187) {OI for the front month} minus the number of notices served upon today (9) x 100 oz) which equals 215,800 oz standing OR 6.7122 TONNES + 5.3645 EX FOR RISK FOR MONTH = 12.0767 TONNES ( CME RE- CORRECTED)

TOTAL COMEX GOLD STANDING: 12.0767 TONNES WHICH IS HUGE FOR AN ACTIVE BUT GENERALLY WEAK DELIVERY MONTH. (OCT). Somebody is after a considerable amount of gold from the comex.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

total pledged gold: 1,844,946.179 OZ 57.38 tonnes

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 20

//2023// THE NOV 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	117,918.750 OZ BRINKS .
Deposits to the Dealer* Inventory*	nil oz
Deposits to the Customer Inventory	117,918.750 oz BRINKS
No of oz served today (contracts)	0 CONTRACT(S) (NIL OZ)
No of oz to be served (notices)	43 contracts (215,000 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 BRINKS 117,918.750

total customer deposit 117,918.750 oz

JPMorgan has a total silver weight: 134.441 million oz/267.209 million or 50.18%

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: 43 CONTRACTS HAVING GAINED 28 CONTRACT(S). WE HAD 2 NOTICES FILED ON FRIDAY, SO WE GAINED 30 CONTRACTS OR AN ADDITIONAL 150,000 OZ WILL STAND FOR SILVER IN NOVEMBER AT THE COMEX

DEC. LOST 4605 CONTRACTS TO STAND AT 54,834

JANUARY GAIND 314 CONTRACTS TO STAND AT 1269

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for NIL oz

Comex volumes// est. volume today73,541// good

Comex volume: confirmed yesterday 67,742

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. (43) and the number of notices served upon today 0 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 (43) – number of notices served upon today (0 )x 500 oz of silver standing for the NOV contract month equates to 4.315 MILLION OZ +0 MILLION OZ EXCHANGE FOR RISK TODAY + 1.245 MILLION OZ (EXCHANGE FOR RISK/PRIOR) =5.560 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 20/WITH GOLD DOWN $4.15 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD A MAMMOTH DEPOSIT OF 12.98 TONNES INTO THE GLD:/ / // // INVENTORY RESTS AT 883.43 TONNES

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: 883.43 TONNES

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

NOV 20/WITH SILVER UP XXX 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 17/WITH SILVER DOWN 6 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1,832,000 OZ FROM THE SLV//://// //INVENTORY RESTS AT 437,104 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 437,104 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

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

Good commentary today from Mathew Piepenburg…

DC Cancelled Common Sense

Matthew Piepenburg
November 19, 2023

It doesn’t require decades of financial expertise to balk at the notion of selling retail air conditioning units in Siberia or lemonade stands in the heart of the Arctic.

That is, even a high-school freshman would foresee the likely mis-match in supply and demand. After all, unwanted assets, including USTs, can often have more supply than demand.

In other words: Common sense matters.

But in the land of twin deficits, pathologically dishonest/lobbied politicians, negative net international investment positions, chronically obese Fed balance sheets, the Paul Krugman-like blue pill of solving every debt problem with more debt and a Noble prize granted to a central banker who pays that debt with money created out of thin air, common sense appears to be the latest concept to be cancelled in DC.

In fact, if DC’s open incompetence (or blatant corruption) wasn’t otherwise so tragic, it could almost make anyone burdened with self-awareness laugh out loud.

Almost.

The Not-So Funny Facts

But there’s nothing funny about a nation living at historical levels above its means and drowning in an openly ignored 120% debt/GDP debt spiral.

Meanwhile, emotional-heavyweights (yet evidence-free-lightweights) openly signal their virtue – pandering to safe consensus (and voters) about everything from trans-gender bathrooms and the original sin of white privilege to an increasingly vocal chorus bent on slowly eradicating each of our ten Bill of Rights, from free-speech to due process.

In other words, the divided are squawking as Rome burns…

Nor is there anything funny about debating “hard vs. soft landings”with a middle-class suffering record-high credit card debt at 20% interest rates while repo men collect delinquent autos at a pace higher than the Great Financial Crisis of 2008.

And let us not forget, of course, pundits debating about a recession or “looming” recession when the inverted yield curve, YoY M2 declines, the Conference Board of Leading Indicators and ignored illiquidity in the repo markets make it factually clear that America is already in a recession.

At the same time, the U.S. is approaching year-end with over 400 bankruptcies and rising lay-offs as its debt-driven S&P 7 pretends “resilience” while ignoring the over $750B in corporate bonds beneath those stocks about to roll-over at higher (Powell-made) debt costs in 2024, and another $1.2T more roll-overs coming in 2025.

Given that the now distorted American Dream lives off debt, when the cost of that debt rises, the “dream,” as well market, dies.

Dying Beyond Our Means

This hidden skunk in the debt roll-over woodpile of a nation in slow decline (as all debt-soaked nations do) is only made worse when we realize that the pattern of marching toward a rate-hike cliff is even worse for US government debt (racing toward $34T and counting).

Folks, unless the Fed pivots toward QE, rate cuts, and likely YCC, 30% of that already unpayable public debt is about to be re-priced at higher (Fed-made) rates in the next 36 months.

This means that more than 40% of US tax receipts (which will be even less if markets tank) will be allocated to just paying down the interest expense on Uncle Sam’s openly grotesque bar-tab.

Such debt, interest rate and credit market realities prove that America is not living beyond its means, but actually (as an impoverished Oscar Wilde moaned from his death bed in a Parisian hotel) “dying beyond its means.”

This slow death, of course, may sound sensational, but facts (and basic math) are stubborn things, no?

Our Own Opinions, Not Our Own Facts

Although we are all entitled to our own opinions, we are not entitled to our own facts, despite our “data dependent” Federal Reserve forever seeking to re-engineer the “data” of our so-called CPI/inflation scale, recession metrics and unemployment rates.

The ironies just abound as each of us struggle to thread the needle of information vs. misinformation on everything from vaccine efficiency to George Santos’ college volleyball stats… (assuming he went to college?)

In sum, it’s getting increasingly hard to perceive the lighthouse of truth or the little voices of our own common sense among an ever-thickening fog of top-down distortion and bottom-up resignation.

Which brings me back to my opening thoughts of lemonade stands in the Arctic and the need for resurrecting our common sense.

A Foreseeably Bad Treasury Auction

Toward this end, let’s consider the otherwise “boring” but oh-so seminal importance of the sovereign bond markets in general and the UST market in particular, for as I’ll say nearly every chance I get: The bond market is everything.

It’s very likely, given the Sturm und Drang of current headlines, that some of you may have missed Uncle Sam’s recent attempt to sell 30-Year Treasuries at auction in November.

Like that lemonade stand in the Arctic, there were very few buyers at Uncle Sam’s garage sale…

This, of course, is no shocker to those (both within and outside America’s borders) who already know that Uncle Sam is little more than a bad credit issuing a declining and increasingly unloved asset (UST).

The evidence of this tanking demand is most evident among global central banks, who ever since 2014, have been net sellers of USTs, and in recent years, record-breaking buyers of physical gold.

Of course, as demand for Uncle Sam’s IOUs falls, so too does their pricing, which explains why their yields (which move inversely to price) have been rising like nasty little shark fins among a credit sea of frothy chum.

Earlier this month, yields on the 30Y UST climbed from 4.65% to 4.8% after $24B in US bonds saw less love/demand from investors than Uncle Sam had otherwise hoped.

(Apparently, the policy makers in DC were still hoping that lemonade in the Arctic was a great deal…)

Who Wants a Declining Asset from a Bad Credit?

But when fewer and fewer buyers show up at those Treasury auctions, the primary dealers (i.e., big banks) are forced to finance the leftovers (i.e., fill in the demand gap).

In fact, these “branch office banks of the Fed” had to buy nearly 25% of those unloved bonds themselves.

This level of “gap purchasing” by the primary dealers is now more than double the average rate, which means interest in Uncle Sam’s 30Y UST is openly tanking at a similar rate.

When Billions Are No Longer Enough

What is far scarier, however, is the fact that the US Treasury Department’s recent sale of $24B in bonds bought Uncle Sam only 5 days (as opposed to months) of liquidity and US deficit “coverage” otherwise essential to keep the government on its respirator of seemingly endless deficit spending.

By the way, once DC finally confesses the US is officially in a recession (always months after the fact), such US deficit spending, already beyond the pale of common sense, will only increase, which will mathematically push the US fiscal deficit (now at 8% of GDP) to well over 10-15% of GDP.

Such simple math places unbearable pressure on the traditional/forced buyers (suckers?) of Uncle Sam’s debt (banks, pension funds, and foreigners), who will become increasingly thirsty for USD liquidity (nod to Brent Johnson) and hence be forced to sell more of those very same USTs to obtain that “sucking straw” of Dollar liquidity.

Of course, more UST selling only puts more downward pressure on UST pricing, and hence more upward pressure on UST yields and interest rates.

And that, dear readers, is how a debt spiral looks, functions and corrupts economies. As yields rise, more and more of US tax revenues will be wasted on just paying interest expenses on DC’s IOUs…

That is, the more the US goes into debt, the more it costs and the more it breaks things, from banks and middle-class car owners to an ever-dwindling small business sector and a rightfully angry guitar player in Farmville, Va.

The Open Need for More Inflationary Liquidity

As importantly, given the now empirical fact that billions of IOUs per auction only buys Uncle Sam days rather than months of deficit coverage, it seems fairly clear to me, at least, that Uncle Sam is going to need more than just primary dealers to keep his bond market alive (and debt-based “growth” model in motion).

As I’ve consistently argued, the only place/buyer where Uncle Sam can eventually turn to support his unloved bond markets is a money printer (digital currency mouse-clicker) at the Fed.

This means at some point, the only option left (short of a Plaza Accord/Bretton Woods 2.0) for America is QE to the moon, which will send the USD’s purchasing power to the ocean’s floor.

In the interim, as Powell’s higher-for-longer (or even “pause”-for-longer) policies collide with rising deficits and declining UST demand, the only charts about to go up in the near-term are yields, the USD, gold and BTC, each of which has been doing precisely that.

Gold & the USD

Many will say, of course, that gold does best only when the USD is weak and rates and yields are low.

Yet gold is nearing record USD-priced highs despite rising rates and hence a rising USD.

Why?

It’s simple: Faith in a broke(n) USA is falling.

Trapped within a debt bubble, currency crisis and global policy corner as thoroughly distorted and beyond the pale of natural supply and demand as the current DC now finds itself, the world’s central banks are positioning themselves for an eventual and inevitable pivot toward trillions in more fake liquidity from an equally discredited Fed.

This means the USD’s relative strength and days of current (yet artificial) glory are indeed numbered.

This positioning is easy to see.

Just as armies preparing for an invasion bring their horses, troops, canons and men nearer to their borders for protection, central banks and BRICS+ nations are stacking physical gold day by day, month by month and year by year in anticipation for the kind of emergency (and bogus) liquidity that drowns all fiat currencies—including a world reserve currency.

Differing Opinions, Shared Facts

This liquidity end-game, which involves an inevitable debasement of the USD, is, in MY opinion, how the foregoing debt facts play out.

That is, the USD will be sacrificed to save the UST—and all that flows therefrom, i.e., equity markets, pension funds, tax receipts etc. In short: The “system” can only be “saved” by trillions of fake, new Dollars.

This is nothing new.

Throughout history, and without exception, all debt-soaked nations sacrifice their currencies to temporarily save their broken “systems.”

As mentioned above, we are all entitled to our own opinions, just not our own facts.

Toward this end, it is equally important to consider contrary opinions on the same facts, and I have enjoyed, as well as respected, other informed opinions on these same facts, including my recent discussions/debates with Brent Johnson.

Like myself, Brent Johnson is a powerful supporter of physical gold as a patient yet ultimate victor (and asset) as the foregoing debt endgame approaches its final hour.

But we don’t agree on everything.

He argues that entrenched global demand for the USD (via trade agreements, Euro Dollar and derivative markets, global USD-denominated debt contracts etc.) will continue to offer tailwind support to America’s otherwise distorted currency (DXY at 140+?) as per the admirable logic of his famous “milkshake theory,” which is not only rich with data, but common sense as well.

The Same Common Sense

But whether my opinion or Brent Johnson’s opinion as to the near-term direction of the USD prevails (I don’t see a 140 DXY), the stubborn reality of a paper and now weaponized currency losing its trust, respect and legs longer-term is as easy to see as the growing shine (and open demand) of physical gold as a far superior preserver of generational wealth than a corrupted Greenback.

For both Brent Johnson and myself, this end-game is not just evidence-backed, but simple common sense—a quality DC may have cancelled but which most of us still proudly possess.

Regardless then, of the USD’s relative strength (or weakness) in the months ahead, its inherent purchasing power is dying by the day.

Gold is one historically-confirmed way of addressing this reality with common sense.

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

WOW! this is big! India imported a monstrous 123 metric tonnes last month or 5.5% of world’s annual production ex China ex Russia

(Reuters)

India’s October gold imports surge to 31-month high

Submitted by admin on Mon, 2023-11-20 09:55Section: Daily Dispatches

By Rajendra Jadhav
Reuters
via Nasdaq.com, New York
Monday, November 20, 2023

MUMBAI — India’s October gold imports surged 60% from a year earlier to a 31-month high as a drop in prices ahead of a key festival prompted jewellers to ramp up purchases, a government source said today.

Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices but also may widen India’s trade deficit and put pressure on the ailing rupee.

India imported 123 metric tons of gold in October, compared with 77 tons a year earlier, the source said, declining to be named as he is not authorised to speak to the media.

The average monthly imports in October in the past decade were around 66 tons.

In value terms, October imports nearly doubled to $7.23 billion from $3.7 billion a year earlier, he said. …

… For the remainder of the report:

https://www.nasdaq.com/articles/indias-oct-gold-imports-surge-to-31-month-high-on-festive-demand

END

This is terrific: this right leaning libertarian wins Argentina’s election and he is free market and a strong believer in gold. It is a strong supporter of Israel.

New York Sun

New York Sun: A radical libertarian triumphs in a country whose name means money

Submitted by admin on Mon, 2023-11-20 09:32Section: Daily Dispatches

From the New York Sun
Monday, November 20, 2023

What a moment for the country whose name means money.

The victory in the Argentina presidential elections of the radical free-market libertarian Javier Milei certainly puts a spanner into whatever gears are turning Latin America to the left. The leftist economic minister, Sergio Massa, a Perónist, conceded defeat in the runoff even before the official account was released — opening the way for the populist Javier Milei.

The Sun rarely, if ever, endorses in foreign elections, but we don’t mind saying our interest in this election has been keen. Mr. Milei used his penchant for theatricality to signal that he was leading a broad backlash against political correctness. He’s a pro-life professor of economics who sometimes carries an Israeli flag and says he’ll move Argentina’s Israel embassy to Jerusalem. To show his budget plans, he has carried a revving chainsaw.

All of this is of interest to us but none of it more than the fact that Mr. Milei is a follower of Austrian economics, which centers on defining money in terms of gold.

That is currently outlawed under the amendments of the International Monetary Fund passed in 1978. The logic of Austrian economics, though, has been moving to the fore of the debate on how to correct an economy that has saddled America with crushing debts. …

… For the remainder of the commentary:

https://www.nysun.com/article/a-radical-libertarian-triumphs-in-a-country-whose-name-means-money?newsletter-access

end

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/ Jan N. (Koos Jansen)

Important to see:

(Jan. N)

Dutch Central Bank Admits It Has Prepared For A New Gold Standard

MONDAY, NOV 20, 2023 – 02:45 AM

By Jan Nieuwenhuijs, of Gainesville Coins

In a recent interview the Dutch central bank (DNB) shares it has equalized its gold reserves, relative to GDP, to other countries in the eurozone and outside of Europe. This has been a political decision. If there is a financial crisis the gold price will skyrocket, and official gold reserves can be used to underpin a new gold standard, according to DNB. These statements confirm what I have been writing for the past years about central banks having prepared for a new international gold standard.

Wouldn’t a central bank that has one primary objective—maintaining price stability—serve its mandate best by communicating the currency it issues can be relied upon in all circumstances? By saying gold will be the safe haven of choice during a financial collapse, DNB confesses its own currency (the euro) does not weather all storms. Indirectly, DNB encourages people to own gold to be protected from financial shocks, making the transition towards a gold based monetary system more likely.Old gold vault of DNB in Amsterdam

How to Prepare for a Gold Standard

In my latest article on this subject—“Europe Has Been Preparing a Global Gold Standard Since the 1970s. Part 2”—I have demonstrated that central banks of medium and large economies in the eurozone have balanced their official gold reserves, proportionally to GDP, to prepare for a gold standard (/gold price targeting system). My analysis was pieced together by scarce quotes from central banks and data of European gold and foreign exchange holdings. My conclusion was that several medium-size economies in Europe (the Netherlands, Belgium, Austria, and Portugal) sold large amounts of gold from the early 1990s to 2008 to come on par with France, Germany, and Italy. I wrote:

Seemingly there are guidelines in the eurozone for national central banks to hold an appropriate amount of gold relative to GDP.

In another article, I revealed that in the early 1990s the People’s Bank of China (PBoC) was buying the gold DNB was selling. By selling gold Europe was allowing developing countries to buy gold and come on par with the West. China too has expressed its desire to bring its gold holdings more in line with the size of its economy, just like the Europeans, and thus to international averages. From Dutch newspaper NRC Handelsblad in 1993:

China announced that it is working to build up its [gold] reserves in order to bring it more in line with the size of Chinese GDP.

The above, and DNB’s most recent confirmation of leveling reserves, implies there are international agreements on the distribution of gold holdings.

Evenly spread gold reserves internationally are a prerequisite for a smooth transition to a gold standard. If some countries own too much and others too little, as was the case in the 1970s, a newly implemented gold standard would prove to be deflationary because the ones with too little gold would have to buy in, pushing up the real price of gold. As long as official gold reserves are evenly spread the nominal gold price can be increased to what is suited for all countries, before introducing a new system.

Another sign of Europe having prepared for a new gold arrangement are the repatriations by several countries. In the eurozone Germany, the Netherlands, France, and Austria repatriated (and redistributed) bullion for security reasons, while keeping a substantial share of their assets in liquid markets such as London. Additionally, Germany, France, and Sweden, that we know of, have upgraded gold bars that didn’t adhere to current wholesale industry standards so now all their metal can be traded instantly.

Last but not least, European central banks’ communication about gold has become unequivocally clear and candid. Stating “gold is the bedrock of stability for the international monetary system” (Germany), “gold is an excellent hedge against adversity” (Italy), “gold is … considered to be the ultimate store of value” (France), and gold “may play a stabilising role … in times of structural changes in the international financial system or deep geopolitical crises” (Hungary). Remarkable statements from entities tasked with guaranteeing financial stability.

Dutch Central Bank Comes Clean on Gold Strategy

When I asked European central banks about a legal requirement to equalize their gold reserves, two of them replied there is no such obligation. Which is strange given the obvious aligning of reserves over the past decades, illustrated in the charts below, and the new comments by DNB.International gold reserves as a percentage of GDP in the eurozone, 1970–date.Monetary gold reserves and gold sales relative to GDP in the eurozone

DNB provides an explanation in the aforementioned interview by revealing that their gold policy is set in consultation with its shareholder, the Ministry of Finance of the Netherlands. The idea of balancing gold reserves was first conceived in the 1970s and then executed from the early 1990s until 2008. With no legal requirements for European central banks to balance reserves, the seeds of their actions could be found at their respective governments.

My Freedom of Information (FOI) requests about this subject submitted at DNB have never yielded results because DNB is exempt from such inquiries. This week I have sent FOIs to the Dutch Ministry of Finance to find out what gold policy agreements governments have made internationally. To be continued.

Interview Transcript

The interview with Aerdt Houben, Director of Financial Markets for DNB, was conducted by Anna Dijkman from Het Financieele Dagblad. The following is a translation of the most important part of the conversation (in the first segment we hear Dijkman make a few comments for the listener in between Houben’s talk):

HOUBEN: 612 tonnes of gold. That’s our total holdings. It’s worth about €35 billion euros at the moment and we have diversified it around the world, as a good investor should. We’ve spread it over four locations, with about 30% in the Netherlands, just over 30% in New York at the Federal Reserve, over 20% in Canada and 18% in London.

The gold really goes way back. At the end of the nineteenth century DNB started accumulating gold, which was important to establish confidence in our currency.

DIJKMAN (narrator): The Netherlands was on the gold standard at that time. That means money was backed by gold at the central bank. People could always exchange their banknotes for gold. That lasted until 1936. After World War II, another monetary system based on gold was introduced: Bretton Woods. More than 40 countries agreed with each other that their currencies had a fixed exchange rate against the dollar. The dollar, in turn, could be exchanged for gold at a fixed price.

HOUBEN: The Dutch guilder was actually stable to gold via the dollar. We received dollars when we had surpluses and we lost dollars when we had deficits. And the dollars were redeemable in gold.

DIJKMAN (narrator): Those surpluses and deficits Houben talks about have to do with international trade. The Netherlands, as well as other countries, exported more than it imported and therefore we had a surplus.

HOUBEN: As a result of the surplus our gold reserves increased, or we got more dollars that we converted into gold. We kept asking the Americans, can you convert our dollars into gold? We became owners of gold that was at the Federal Reserve in New York, and it’s still there.

The Americans made losses from their trade relationships. Eventually it was unsustainable for them to lose more and more gold reserves. In 1971, President Nixon announced America’s departure from Bretton Woods. But by then we had over 1,700 tonnes of gold. Yes, we did very well then.

DIJKMAN (narrator): Since the 1970s, gold had no role in the monetary system. But we and other countries had substantial reserves.

HOUBEN: The beauty of gold is that it’s stable in value, it retains its value. That’s one of the reasons why central banks hold gold. Gold has intrinsic value unlike a dollar or any other currency, let alone Bitcoin. Gold has value on its own. It’s a fungible product. It’s a liquid product, you can buy and sell it almost anywhere in the world. So, it’s really an outstanding commodity to base an exchange rate system [gold standard] on.

DIJKMAN: Yet we sold quite a bit of our gold starting in the 1990s. Why?

HOUBEN: Well, I think once you let go of tying your exchange rate to gold, then one of the main reasons for holding that gold is gone. Then you might ask, why are we still holding that gold? Why gold and not a portfolio of stocks or bonds or something else? There are a number of things that make gold very attractive to central banks. Gold is like solidified confidence for the central bank. It’s something that has historically fulfilled that role. If we ever unexpectedly have to create a new currency or a systemic risk arises, the public can have confidence in DNB because whatever money we issue, we can back it with the same value in gold [gold standard].

In the 1970s, and we did that exercise again in the 1980s and 1990s, we looked at how much gold we have and whether that was still in proportion. It’s a kind of an insurance against systemic risk, and the question was to what extent should we continue to insure against this kind of systemic risk? And then we looked at what globally, what other major central banks were doing. We concluded that we owned too much gold. Our stock of gold was then reduced to about the average of the larger gold holding countries in Europe.

DIJKMAN: We do still rank in the top ten, I think globally.

HOUBEN: We are number seven. Yes, in terms of our GDP. Yes, that’s a fine position.

DIJKMAN: So how do you determine what is an appropriate amount then? Because that €35 billion, that doesn’t quite relate to our GDP, does it?

HOUBEN: We have about 4% of our GDP in our gold reserves. And that’s comparable to France, Germany, and Italy.

DIJKMAN: Is that the rule of thumb roughly?

HOUBEN: I think to be very honest there is no optimum, so you can’t determine objectively what is the optimal level of gold reserves. Just like with insurance, because you don’t know when and to what extent a fire is going to occur, and so on. Of course, it also has to do with the shocks of the future, with all kinds of uncertain factors. I think it’s just that we as Dutch people want to be a little bit careful. We think it’s good to have a certain basis of solvency at the central bank invested in gold.

DIJKMAN: Because you could also say if it’s a kind of insurance, for example if the financial system collapses or whatever, shouldn’t you have a lot more?

HOUBEN: You could think that. I think it’s more than enough, because if everything collapses, then the value of those gold reserves shoots up, it skyrockets. Secondly, you don’t have to fully cover it. That’s what experience shows, full coverage is only necessary in a country where there are no other mechanisms to support confidence in the central bank.

DIJKMAN: For example, a country like Canada. I think it has sold all gold. Why did they make that choice?

HOUBEN: Why did Norway put all their oil and gas revenue into a fund and not run it into the government’s budget like the Netherlands did? Those are choices that were made politically. I do think that is an important point to make here. This is not a choice that DNB makes alone. This is in consultation with our shareholder. And that is of course the Ministry of Finance, with whom we are in close consultation about our balance sheet and the risks we bear. And also the gold reserves, which are part of that.

Read more about the international gold market from the author:

end

5 a. IMPORTANT COMMENTARIES ON COMMODITIES:

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN: CLOSED UP AT 7.1722

OFFSHORE YUAN: UP TO 7.1773

SHANGHAI CLOSED UP 13.95 PTS OR 0.46%

HANG SENG CLOSED DOWN 323.58 PTS OR 1.86%

2. Nikkei closed UP 148.27PTS OR 1.062%

3. Europe stocks SO FAR: ALL MIXED

USA dollar INDEX DOWN TO 103.46 EURO RISES TO 1.0929 UP 24 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +.7430 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 DOWN /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 UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.62275***/Italian 10 Yr bond yield UP to 4.362*** /SPAIN 10 YR BOND YIELD UP TO 3.628…**

3i Greek 10 year bond yield UP TO 3.831

3j Gold at $1971.30 silver at: 23.34 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 1 AND 59 /100 roubles/dollar; ROUBLE AT 88.41//

3m oil into the 77 dollar handle for WTI and 81 handle for Brent/

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

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 148/27// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.743% 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 0.8843 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9665 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: 4.4840 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.634 UP 4 BASIS PTS/

USA 2 YR BOND YIELD: 4.931 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 28.76…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 6 BASIS PTS AT 4.1940

end

2.a Overnight: Newsquawk and Zero hedge:

Futures Flat After OpenAI “Train Wreck” As Markets Brace For Nvidia Earnings

MONDAY, NOV 20, 2023 – 08:38 AM

US stock futures erased earlier losses to trade flat as Microsoft gained 2% in premarket trading, sending it to a new all time high, after it said Sam Altman will lead the software developer’s new in-house artificial intelligence team. The OpenAI co-founder was ousted from his startup last week.

As of 8:30am ET, S&P futures were flat at 4.525, following three weeks of gains that pushed the index nearly 10% higher and propelling it to an 11 week high. Treasuries dropped, pushing US 10-year yields up 3bps to 4.47%. The dollar extended a decline, with a gauge of greenback strength hitting its lowest level since August, amid speculation the Federal Reserve is nearing the end of its rate-hike cycle. Commodities are mixed: oil is higher; base metals are lower. OPEC+ members will meet to set policy on November 26 with RTRS sources reporting that OPEC+ is set to consider whether to make additional oil supply cut. Key catalysts this week include FOMC Minutes (Tue), NVDA’s earnings (Tue), Initial Jobless Claims (Wed), PMIs (Fri) and OPEC Meeting (Sun). We will have a shortened week due to Thanksgiving, and the key event is tomorrow’s NVDA earnings. As DB’s Jim Reid reminds us, “Nvidia’s Q1 earnings in May was probably the event that catapulted AI into the stratosphere in terms of being an important macro topic so the pace of their success will be a key driver in how rapidly AI infiltrates our daily lives.”

In premarket trading, Microsoft climbed as much as 2.7% after hiring OpenAI co-founders Sam Altman and Greg Brockman to lead its in-house artificial intelligence team. Here are some other notable premarket movers:

Arm Holdings climbed 0.7% as Wells Fargo initiates coverage of the chip designer with an overweight rating, saying that the company is one of the best-positioned within the S550 billion global semiconductor industry.
Boeing gained 1.7% as Deutsche Bank upgrades to buy on “simple” rationale that aircraft deliveries are beginning to accelerate.
Chegg shares dropped 3.5% after the edtech company was downgraded to underweight at Morgan Stanley, which sees weaker trends in October and greater competition from generative AI in the longer term.

Traders are currently pricing in about a 30% chance of a first Fed rate cut in March and are awaiting publication Tuesday week of minutes of the last Fed rates meeting for further insight into Powell’s thinking.

“The dovish Fed narrative remains in place,” said Win Thin, global head of currency strategy at Brown Brothers Harriman. “There is likely to be ongoing downward pressure on US yields and the dollar.”

In the biggest political news over the weekend, Argentinian libertarian candidate Javier Milei (defeated Economy Minister Sergio Massa to win Sunday’s presidential runoff. Argentina’s bonds rallied, while a gauge of emerging-market currencies gained along with developing-nation stocks. Elsewhere in emerging markets, Zambia’s eurobonds plunged after the country said it can’t implement a restructuring pact with bondholders as not all creditors supported the agreement. Securities due 2027 fell more than 2 cents in the dollar.

European stocks reversed earlier gains, and traded at session lows, with the Stoxx 600 down 0.2% as a slew of negative corporate news weighed on shares. Bayer AG slumped by the most ever after the German pharmaceutical giant stopped a key drug trial and suffered a defeat in a trial related to its Roundup weed killer. American peer Bristol-Myers Squibb Co. dropped more than 4% in US premarket trading. Ashtead Group Plc plunged after the UK equipment-rental company cut its revenue forecasts. Julius Baer Group Ltd. fell as much as 12% after the Swiss bank warned of a profit decline amid rising bad-loan provisions. Here are the other notable premarket movers:

Diploma rises as much as 9.7%, the most since July. The British construction components firm reported “very solid” delivery and a margins beat, according to Morgan Stanley. Analysts see upgrades to consensus
Pepco jumps as much as 11% in Warsaw after its majority shareholder Ibex said it wouldn’t sell any stake at current stock price
Currys shares gain as much as 5.3%, reaching the highest intraday level since September 4, after RBC Capital Markets upgraded the stock to outperform from sector perform, noting that the sale of the Kotsovolos unit in Greece has made the electronics retailer “more investable”
Julius Baer shares fall as much as 12% after the Swiss bank’s 10-month results indicated a 10% downgrade to FY EPS estimates, according to Kepler Cheuvreux
Ipsen drops as much as 5.4% after Jefferies downgrades to hold, citing potential pipeline risks for the French drugmaker and a lack of key catalysts.
Aurubis falls as much as 3.5%, the biggest drop since Sept. 21, after the copper recycler had its stock downgraded, citing a lack of upside and “disappointing” smelter fees
Endesa shares decline as much as 3% in Madrid after the International Court of Arbitration of the International Chamber of Commerce has decided Endesa Generación must pay ~$570 million to liquefied natural gas producer as part of arbitration process
AMS-Osram falls as much as 11% after the chipmaker said it will issue ~724 million new bearer shares at CHF1.07 each, a price that Vontobel says is “clearly lower” than expected
Sirius Real Estate shares fall as much as 5% as the firm offers shares via Joh Berenberg Gossler & Co. KG, Peel Hunt, Panmure Gordon, PSG Capital

A rise in energy costs may cloud the outlook for inflation and interest rates in Europe. Natural gas prices jumped after a vessel seized in the Red Sea by Iran-backed Houthi rebels renewed concerns that the Israel-Hamas war could affect vital waterways for the fuel. Benchmark European gas futures rose as much as 6.9%. The increase was also driven by colder weather forecasts and higher crude oil prices ahead of an OPEC+ meeting later this week. ECB Governing Council member Pierre Wunsch said on Monday that the Central Bank may have to raise borrowing costs again if investor bets on monetary loosening undermine the institution’s policy stance. He was the first of a number of ECB officials set to speak Monday and later this week.

Earlier in the session, Asian stocks extended last week’s gain, led by a rebound in Hong Kong-listed equities after losses late last week. The MSCI Asia Pacific Index climbed as much as 0.6%, headed for its fifth gain in six sessions. Index heavyweights Tencent and Alibaba bounced back in Hong Kong after sliding in the wake of the latter’s results announcement Friday. More broadly, risk sentiment has improved with traders adding to bets the Federal Reserve is done with rate hikes.

Hang Seng and Shanghai Comp outperformed amid resilience in tech and with the property sector underpinned by support pledges, while China’s latest benchmark 1-year and 5-year Loan Prime Rates were unsurprisingly maintained.
Australia’s ASX 200 finished marginally higher as strength in energy and financials was partly offset by losses in utilities and miners, while a quiet data calendar further added to the non-committal mood.
Japan’s Nikkei 225 swung between gains and losses in which an early rally saw the index climb above 33,850 and print its highest level since 1990, before wiping out all its gains and more. The index has been boosted by recent yen weakness, solid company earnings, and corporate governance reforms.
Indian stocks dropped, weighed by India’s largest shadow lender Bajaj Finance, which was pressured by the central bank’s unsecured retail loan crackdown. The S&P BSE Sensex fell 0.2% to 65,655.15 in Mumbai, while the NSE Nifty 50 Index declined by a similar measure. Bajaj Finance Ltd. contributed the most to Sensex’s decline, decreasing 2.1%.

In rates, Treasuries rose, pushing US 10-year yields down 2bps to 4.45%. Italian bonds outperform in Europe after Moody’s revised the outlook on the country to stable from negative. Italian 10-year yields fall 3bps. Treasury auctions resume with $16b 20-year new issue; WI yield at ~4.83% is ~42bp richer than result of October sale. Dollar IG issuance slate empty so far; volume for the week expected to be lighter than the past two weeks with around $10 billion in new bond sales projected.

In FX, the dollar added to its recent decline, with the Bloomberg Dollar Spot Index falling 0.4% to its lowest level since August. The Japanese yen is the best performer among the G-10’s, rising 0.9% versus the greenback. Traders are currently pricing in about a 30% chance of the first Fed rate cut in March after Vice Chair for Supervision Michael Barr said Friday officials are likely at or near the end of their tightening campaign. One-month BBDXY riskies stand around 16 basis points, calls over puts. If July extreme valuations were taken out, bullish sentiment for the greenback hasn’t been this weak in three years. The yen strengthened 0.9% to 148.32 amid speculation that the Bank of Japan will have to tighten policy to fight inflation. The offshore yuan strengthened after the People’s Bank of China boosted its daily reference rate for the currency to the strongest since August. The nation’s commercial lenders on Monday kept their benchmark lending rates unchanged, in line with the central bank’s decision this month to maintain policy rates in favor of other means to support stimulus spending.

Bitcoin is firmer on the session and extending further above the $37k mark, following Milei’s victory in the Argentina presidential elections.

US economic data includes October Leading Index at 10am (est. -0.7%, prior -0.7%); ahead this week are existing home sales, durable goods orders, University of Michigan sentiment and S&P Global PMIs. In the holiday-shortened week, jobless claims has been brought forward to Wednesday due to the holiday, and this week’s data corresponds to the survey week for payrolls so given this and the fact that it has been edging up (albeit slowly) in recent weeks makes it one of the key data points at the moment

Market Snapshot

S&P 500 futures little changed at 4,531.00
MXAP up 0.7% to 161.94
MXAPJ up 0.9% to 505.22
Nikkei down 0.6% to 33,388.03
Topix down 0.8% to 2,372.60
Hang Seng Index up 1.9% to 17,778.07
Shanghai Composite up 0.5% to 3,068.32
Sensex down 0.2% to 65,651.53
Australia S&P/ASX 200 up 0.1% to 7,058.42
Kospi up 0.9% to 2,491.20
STOXX Europe 600 little changed at 455.76
German 10Y yield little changed at 2.59%
Euro up 0.2% to $1.0939
Brent Futures up 0.8% to $81.24/bbl
Gold spot down 0.0% to $1,979.85
U.S. Dollar Index down 0.43% to 103.48

Top Overnight News

China’s share of the global economy is shrinking at the fastest pace since the Mao era, reaching a peak of 18.4% in 2021 before sliding to 17% this year. FT
TikTok is facing what it views as perhaps its biggest crisis yet, with the world’s most popular app facing an intense backlash over the perception it favors pro-Palestinian and, at times, antisemitic content. Citing anti-Israel posts that surfaced on TikTok since the Gaza conflict began and a decades-old Osama bin Laden letter that circulated this week, Washington lawmakers have renewed calls to ban the app in the U.S. WSJ
China is creating a list of 50 property developers eligible for a range of financial support as the gov’t continues to take steps to stabilize the industry. BBG
Italy secured a major win after Italy raised its outlook on the country to stable, removing the risk of a downgrade into junk territory. BBG
US, Israel, and Hamas are close to a deal that would see fighting halted for 5 days in exchange for the release of women and children being held hostage. WaPo
OpenAI tapped former Twitch CEO Emmett Shear to replace Sam Altman, defying calls from investors to reinstate him. Altman and OpenAI co-founder Greg Brockman will join Microsoft to lead its new in-house AI team, CEO Satya Nadella said. BBG
Biden’s approval rating sinks to 40%, the lowest level of his presidency, and he’s trailing Trump in a hypothetical general-election matchup. NBC News
Washington is confident Arab states won’t weaponize oil and it notes prices are near the lows despite two major wars taking place (in Ukraine and Gaza). FT
Citigroup plans to announce on Monday the first big round of lay-offs in a sweeping restructuring — the bank’s biggest revamp in nearly two decades — that will eventually result in thousands of positions being eliminated. FT

A More detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks were mostly positive albeit with gains capped amid the lack of fresh catalysts from over the weekend and as participants await this week’s key events including tomorrow’s FOMC minutes release. ASX 200 finished marginally higher as strength in energy and financials was partly offset by losses in utilities and miners, while a quiet data calendar further added to the non-committal mood. Nikkei 225 swung between gains and losses in which an early rally saw the index climb above 33,850 and print its highest level since 1990, before wiping out all its gains and more. Hang Seng and Shanghai Comp outperformed amid resilience in tech and with the property sector underpinned by support pledges, while China’s latest benchmark 1-year and 5-year Loan Prime Rates were unsurprisingly maintained.

Top Asian News

PBoC 1-Year Loan Prime Rate (Nov) 3.45% vs. Exp. 3.45% (Prev. 3.45%); 5-Year Loan Prime Rate 4.20% vs. Exp. 4.20% (Prev. 4.20%)
China’s securities regulator will adopt different policies to address the risk of bond defaults by large real estate companies depending on their respective circumstances, according to Chinese financial media outlet Yicai.
Taiwan’s APEC envoy Chang said he had informal interactions with US President Biden, Vice President Harris and Secretary of State Blinken but didn’t have any interactions with Chinese President Xi.
China is reportedly drafting a “whitelist” of 50 developers for a financing boost, via Bloomberg; designed to guide institutions as they consider support for the industry.

European bourses in the green, Euro Stoxx 50 -0.1%, with action relatively contained overall in light macro newsflow after a slightly downbeat APAC handover. Sectors are mixed with Retail, Telecom & Utilities firmer given Cinco Dias reporting that Cellnex is looking into options for various units while Healthcare, alongside the DAX 40 -0.1%, is hampered by marked pressure in Bayer -20% after several negative updates. Stateside, futures are essentially flat going into a relatively light schedule expect for a 20yr auction before Tuesday’s FOMC minutes and the Thanksgiving closures, ES +0.1%; NQ outperforms slightly as MSFT (+2.0%) extends in the pre-market. Microsoft (MSFT) CEO Nadella says former OpenAI executives Sam Altman and Greg Brockman are to join Microsoft to lead a new advanced AI research team.

Top European News

UK Chancellor Hunt said he will not conduct any tax cuts that would make inflation worse and that the only way to reduce personal taxes is to spend public money more efficiently, while he responded that everything is on the table regarding the Autumn Statement when asked about reports of inheritance tax cuts. Hunt also stated that the tax burden is too high which he wants to bring down, according to Reuters. It was separately reported that Hunt is ‘considering’ a cut to income tax and national insurance in the Autumn Statement but may delay a widely anticipated reduction in inheritance tax until the spring budget, according to the Independent.
UK PM Sunak says we believe in cutting taxes carefully and sustainably, approach starts with controlling inflation. Tax cuts don’t automatically pay for themselves, Sunak says; can only cut taxes once inflation and debt is under control. To grow the economy, will need to take five long term decisions.
ECB’s Wunch says bet on rate cuts risk prompting hike instead; markets are optimistic to rule out further hiking; rates should stay unchanged in December and January.
German government spokesperson says court ruling on climate fund means we’re stepping in to new legal territory; all special funds are being reviewed now.
Hungarian PM Orban said Hungary needs to change the EU not leave it, while he also stated that they will need to correct the mistaken promise to start talks about Ukraine’s EU membership.
Fitch affirmed Spain on Friday at A-; Outlook Stable, while Moody’s raised Portugal’s rating by two notches from Baa2 to A3; Outlook Stable and affirmed Italy at Baa3; Outlook revised to Stable from Negative.
Javier Milei won Argentina’s presidential election against Sergio Massa who conceded defeat.

Dollar continues to retreat with DXY losing sight of 104.00 before finding some support sub-103.50 within 103.97-46 range.
Yen and Yuan among main beneficiaries or architects of Buck depreciation as USD/JPY probes 148.50 from high just shy of 150.00 and USD/CNY, CNH top 7.1650 at best.
Kiwi back above 0.6000 vs Greenback ahead of NZ trade data and Aussie over 0.6550 awaiting RBA speeches.
Pound briefly back on 1.2500 handle and Euro reclaims 1.0900+ status
PBoC set USD/CNY mid-point at 7.1612 vs exp. 7.2320 (prev. 7.1728)

Fixed Income

Debt futures regain composure to varying degrees after soaking up more offers.
Gilts bounce firmly from 96.87 to 97.28, T-note tags along within a 108-16/25 range ahead of 20 year issuance and Bunds on coattails between 130.70-131.00 bounds.
BTPs outperform mostly above 114.00 after Moody’s Italian outlook upgrade to stable from negative

Commodities

Crude benchmarks continue the rebound which began on Friday, where the contracts settled higher by circa. USD 3/bbl. Specifics have been light on Monday as participants digest Friday’s/weekend OPEC+ reporting.
Currently, WTI trades above USD 77.00/bbl (vs low 75.14/bbl) while Brent is just below USD 82/bbl in a USD 79.58-81.75/bbl intraday range.
Energy Intel’s Bakr said she hasn’t heard of any ‘additional’ OPEC+ cuts being discussed at this time. On Friday, it was reported OPEC+ is to consider whether to deepen oil-output cuts at the next meeting on Nov 26th, according to Reuters OPEC+ sources. Additionally, on Friday, reports suggested Saudi Arabia is highly likely to extend its 1mln BPD cut at least until Spring, while an additional OPEC+ cut of up to 1mln BPD could be on the table, according to FT sources.
Russia’s Gazprom and Venezuela’s PDVSA are to discuss new gas projects in Venezuela, according to RIA.
Spot gold is a touch softer as yields remain higher and the DXY lifts from lows, but overall action is contained. Base metals are mostly firmer in a continuation of APAC action, where Shanghai Copper hit two-month highs. Elsewhere, Dalian iron ore extended amid Australian supply concerns around BHP train drivers taking industrial action.
First Quantum, Cobre Panama Operation: Minera Panama has further ramped down operation at Cobre Panama to one remaining ore processing train. Without shipments arriving at Punta Rincon, expects to run out of on-site power plant supplies from Nov. 20th.
Click here for more details.

Geopolitics

Israel, Hamas and the US are close to an agreement to free dozens of hostages in Gaza in exchange for a five-day pause in fighting and were reported to have reached a tentative deal, according to the Washington Post. However, the White House said there is no deal yet and they continue to work hard to get a deal between Israel and Hamas.
Israeli forces advanced in Gaza City as Israeli PM Netanyahu resisted calls for a ceasefire, according to FT. In relevant news, Israel’s ambassador to the US Herzog said Israel is hopeful a significant number of hostages could be freed in the coming days.
US President Biden said in an Op-Ed article that a revitalised Palestinian authority should ultimately govern Gaza and the West Bank, while he added that the international community must establish a reconstruction mechanism to sustainably meet Gaza’s long-term needs.
UN Secretary-General Guterres said he is deeply shocked that two UNRWA schools were struck in less than 24 hours in Gaza which killed and injured dozens of people. Guterres also said the civilian toll in Gaza is staggering and unacceptable, while he reiterated the call for an immediate humanitarian ceasefire.
EU’s foreign policy chief Borrell said at a joint press conference with Qatari PM Al-Thani that the UN Security Council resolution on humanitarian pauses in Gaza must be implemented. It was also reported that Qatar’s PM said challenges to the hostages deal are now very minor and that sticking points in negotiations are practical and logistical, while he is more confident now that a deal can be reached on hostages.
Iran’s Foreign Minister said resistance groups are cleverly adjusting pressure on Israel and its supporters and have an ‘unactivated capacity’ for pressure.
Iran’s Supreme Leader Khamenei called on Muslim states to at least cut off political ties with Israel for a limited period of time, according to TASNIM.
Yemen’s Houthis said they will target all ships owned and operated by Israeli companies or carrying the Israeli flag, while the Houthis later announced that they seized an Israeli ship and took it to a Yemeni port.
Chinese Foreign Minister Wang Yi said the international community must act now and take effective measures to end the humanitarian disaster regarding the Gaza situation and that China fully supports the Riyadh summit call for a two-state solution. Saudi’s Foreign Minister also commented that they call for an immediate ceasefire and humanitarian assistance, while he added the international community needs to shoulder the responsibility to stop Israel.
Turkish President Erdogan said Turkey will make efforts to rebuild damaged infrastructure, hospitals and schools in Gaza if a ceasefire is achieved, while he added that Turkey is making a call for nuclear weapons inspections in Israel so no doubt is left on the issue, according to Turkish media.
Armenia and Azerbaijan agreed on basic principles of a peace treaty, according to TASS citing Armenia’s PM.

US Event Calendar

10:00: Oct. Leading Index, est. -0.7%, prior -0.7%

Central Bank Speakers

Fed’s Barkin Speaks on Fox Business

DB’s Jim Reid concludes the overnight wrap

I can’t believe its Thanksgiving week already. Next you’ll be telling me Xmas is just around the corner. The holiday will mean a quiet second half of the week for markets but there is still a reasonable number of planned events throughout the week. Nvidia’s earnings tomorrow will be fascinating, as will the saga at OpenAI where CEO, and Artificial Intelligence pioneer, Sam Altman was ousted on Friday night by the board but with Bloomberg suggesting there has been a subsequent movement from their investors to get him reinstated, including from Microsoft. The board have hired a new CEO overnight though. So a big week for AI. Remember that Nvidia’s Q1 earnings in May was probably the event that catapulted AI into the stratosphere in terms of being an important macro topic so the pace of their success will be a key driver in how rapidly AI infiltrates our daily lives.

In the US this week, jobless claims has been brought forward to Wednesday due to the holiday, and this week’s data corresponds to the survey week for payrolls so given this and the fact that it has been edging up (albeit slowly) in recent weeks makes it one of the key data points at the moment. If our economists’ forecast of +236k is correct, then the 4-week moving average will be just under 10% above where it was for the October survey week. So while predicting payrolls is more difficult than guessing what the weather will be this time next week here in the UK, this will be an input into models.

Elsewhere in the US durable goods are also due on Wednesday with DB expecting core orders to fall slightly in the first month of Q4 after two strong months at the end of Q3. On the same day the final University of Michigan consumer sentiment survey will bring any revisions to what were high inflation expectations in the first read. 5-10yr expectations were at 12-year highs of 3.2%. There’s usually a bit of a bias to downward revisions in the second read but we will see.

Before that, today sees the latest US leading indicator index which has been negative every month since January 2022. Tomorrow sees existing home sales alongside the last FOMC minutes. We will see if it was as dovish as the market interpreted at the time. Powell’s subsequent speech was deemed to be a bit less dovish so maybe he was trying to slightly alter the market’s interpretation of the meeting. With financial conditions being important to the Fed at the moment, and with them swinging about of late, the bias for the committee can change over time so the minutes will already be a bit out of date as financial conditions have loosened notably since partly due to the Fed’s concerns about them. So all a bit circular. Staying on the theme the ECB account of their last meeting will be out on Thursday .

Widening out from the US, the global flash PMIs will be out on Thursday (Europe) and Friday (US and Japan). Germany has its PPI today and a breakdown of Q3 GDP and the latest Ifo survey on Friday. The Dutch have a General Election on Wednesday the same day as the UK autumn statement where there is some talk of a few selected tax cuts around 14 months on from the infamous mega-tax cutting budget of the Liz Truss regime. In Asia Japanese inflation on Thursday will be the key release. See the day-by-day calendar at the end for a full preview of the week.

This morning Asian equity markets have carried on the recent bullish global momentum. Across the region, the Hang Seng (+1.51%) is leading gains with the Shanghai Composite (+0.52%) and the CSI (+0.41%) also edging higher following a rebound in Property stocks after Chinese regulators indicated that they would provide more policy support to the beleaguered real estate sector to help stabilise economic growth. The KOSPI (+1.06%) is also trading in positive territory while the Nikkei (-0.53%) is bucking the trend after briefly touching a 33-year high earlier in the session. S&P 500 (-0.09%) and NASDAQ 100 (-0.26%) futures are lower and 10yr UST yields are around +1.5bps higher.

Coming back to China, the PBOC kept its loan prime rates (LPR) unchanged near record lows as expected. The central bank maintained 1-Yr LPR at 3.45% (the peg for most household and corporate loans) with the 5-Yr benchmark rate intact at 4.2% (the reference rate for most mortgages).

In energy markets, oil has extended its gains in Asia from Friday after a tough couple of weeks (+0.71%) and ahead of an OPEC+ meeting scheduled on November 26 where the oil cartel is set to consider whether to make additional oil supply cuts .

Recapping last week now and markets rallied thanks to a downside surprise in the US CPI release, which led to mounting speculation that the Fed and other central banks would soon be cutting rates. That was cemented by some other weaker data, which led investors to bring forward their expectations of future rate cuts. For instance, last week saw futures raise the chance of a cut by May from 21% to 77%, with a cut now fully priced in by June .

That said, this narrative did lose a bit of steam on Friday thanks to comments from the Fed’s Collins that “I wouldn’t take additional firming off the table”, and that they “need to really stay the course”. Separately, some US data releases were also better than expected, with US housing starts rising to an annualised rate of 1.372m in October (vs. 1.35m expected) .

That backdrop meant that sovereign bond yields rallied significantly over the week, although by Friday there was more of a stabilisation. That included yields on 10yr Treasuries, which ended the week -21.6bps lower (unch. Friday), whilst the 2yr yield saw its biggest weekly decline in two months with a -17.7bps move (+4.8bps Friday). Furthermore, 30yr yields were down for a 4th consecutive week, with a -17.3bps decline (-2.6bps Friday). But the prospect of rate cuts wasn’t so good news for the dollar, and the dollar index weakened -1.84% (-0.41% Friday) .

Over in Europe, markets also bought into dovish narrative, albeit to a lesser extent than in the US. That meant investors were pricing in a 32% chance of an ECB rate cut by March, down from 26% at the start of the week. And on Friday, the ECB’s Villeroy said that the decline in inflation “fully justifies the halting of the sequence of rate hikes”. Given that, we saw yields on 10yr bunds fall -12.9bps last week (-0.2bps Friday), whilst those on 10yr UK gilts were down -23.1bps (-4.6bps Friday) to their lowest level since May. After the US close on Friday, we also heard from Moody’s, who raised their outlook for Italy from “negative” to “stable”.

Equity markets shared in last week’s rally, with the S&P 500 posting a +2.24% advance over the week (+0.13% Friday), and reaching its highest closing level since September 1. That was mirrored by the NASDAQ, which rose +2.37% (+0.08% Friday), and the small-cap Russell 2000 surged by +5.42% (+1.35% Friday). Back in Europe, the STOXX 600 saw a +2.82% gain (+1.01% Friday), and the German DAX saw its strongest weekly performance since January as it rose +4.49% (+0.84% Friday).

Finally in commodities, energy prices fell back last week, with Brent crude posting a 4th consecutive decline. That took it down -1.01% to $80.61/bbl, albeit with some big swings over the week, including a -4.63% slump on Thursday that was followed by a +4.12% recovery on Friday. That also followed a Friday report from the FT that Saudi Arabia was prepared to extend its production cuts in 2024. Elsewhere, copper rallied in line with other risk assets, posting its best week since March thanks to a +4.22% rise (+0.97% Friday).

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities tentative in catalyst-thin trade, DXY weaker & Yen bid; Fed’s Barkin due – Newsquawk US Market Open

MONDAY, NOV 20, 2023 – 06:32 AM

European bourses are near unchanged with specifics light but the DAX 40 & Healthcare lagging amid marked Bayer pressure
Stateside, futures are slightly firmer in-fitting with the APAC bias but with action contained into a holiday-thinned week
DXY pressured attempting to convincingly re-claim 103.50 with Yen & Yuan the main beneficiaries
Core fixed benchmarks pressured but off lows ahead of US 20yr, BTPs outperform post-Moody’s
Crude benchmarks continue Friday’s rebound as participants digest OPEC+ reports, spot gold soft but base metals bid
Looking ahead, highlights include US Leading Index Change, New Zealand Trade, Speeches from ECB’s de Cos, BoE’s Bailey, RBA’s Bullock & Schwartz, Supply from the US, and Earnings from Zoom Video Communications

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

European bourses in the green, Euro Stoxx 50 -0.1%, with action relatively contained overall in light macro newsflow after a slightly downbeat APAC handover.
Sectors are mixed with Retail, Telecom & Utilities firmer given Cinco Dias reporting that Cellnex is looking into options for various units while Healthcare, alongside the DAX 40 -0.1%, is hampered by marked pressure in Bayer -20% after several negative updates.
Stateside, futures are essentially flat going into a relatively light schedule expect for a 20yr auction before Tuesday’s FOMC minutes and the Thanksgiving closures, ES +0.1%; NQ outperforms slightly as MSFT (+2.0%) extends in the pre-market.
Microsoft (MSFT) CEO Nadella says former OpenAI executives Sam Altman and Greg Brockman are to join Microsoft to lead a new advanced AI research team.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
Click here for more details.

FX

Dollar continues to retreat with DXY losing sight of 104.00 before finding some support sub-103.50 within 103.97-46 range.
Yen and Yuan among main beneficiaries or architects of Buck depreciation as USD/JPY probes 148.50 from high just shy of 150.00 and USD/CNY, CNH top 7.1650 at best.
Kiwi back above 0.6000 vs Greenback ahead of NZ trade data and Aussie over 0.6550 awaiting RBA speeches.
Pound briefly back on 1.2500 handle and Euro reclaims 1.0900+ status
PBoC set USD/CNY mid-point at 7.1612 vs exp. 7.2320 (prev. 7.1728)
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

Debt futures regain composure to varying degrees after soaking up more offers.
Gilts bounce firmly from 96.87 to 97.28, T-note tags along within a 108-16/25 range ahead of 20 year issuance and Bunds on coattails between 130.70-131.00 bounds.
BTPs outperform mostly above 114.00 after Moody’s Italian outlook upgrade to stable from negative
Click here for more details.

COMMODITIES

Crude benchmarks continue the rebound which began on Friday, where the contracts settled higher by circa. USD 3/bbl. Specifics have been light on Monday as participants digest Friday’s/weekend OPEC+ reporting.
Currently, WTI trades above USD 77.00/bbl (vs low 75.14/bbl) while Brent is just below USD 82/bbl in a USD 79.58-81.75/bbl intraday range.
Energy Intel’s Bakr said she hasn’t heard of any ‘additional’ OPEC+ cuts being discussed at this time. On Friday, it was reported OPEC+ is to consider whether to deepen oil-output cuts at the next meeting on Nov 26th, according to Reuters OPEC+ sources. Additionally, on Friday, reports suggested Saudi Arabia is highly likely to extend its 1mln BPD cut at least until Spring, while an additional OPEC+ cut of up to 1mln BPD could be on the table, according to FT sources.
Russia’s Gazprom and Venezuela’s PDVSA are to discuss new gas projects in Venezuela, according to RIA.
Spot gold is a touch softer as yields remain higher and the DXY lifts from lows, but overall action is contained. Base metals are mostly firmer in a continuation of APAC action, where Shanghai Copper hit two-month highs. Elsewhere, Dalian iron ore extended amid Australian supply concerns around BHP train drivers taking industrial action.
First Quantum, Cobre Panama Operation: Minera Panama has further ramped down operation at Cobre Panama to one remaining ore processing train. Without shipments arriving at Punta Rincon, expects to run out of on-site power plant supplies from Nov. 20th.
Click here for more details.

NOTABLE HEADLINES

UK Chancellor Hunt said he will not conduct any tax cuts that would make inflation worse and that the only way to reduce personal taxes is to spend public money more efficiently, while he responded that everything is on the table regarding the Autumn Statement when asked about reports of inheritance tax cuts. Hunt also stated that the tax burden is too high which he wants to bring down, according to Reuters. It was separately reported that Hunt is ‘considering’ a cut to income tax and national insurance in the Autumn Statement but may delay a widely anticipated reduction in inheritance tax until the spring budget, according to the Independent.
UK PM Sunak says we believe in cutting taxes carefully and sustainably, approach starts with controlling inflation. Tax cuts don’t automatically pay for themselves, Sunak says; can only cut taxes once inflation and debt is under control. To grow the economy, will need to take five long term decisions.
ECB’s Wunch says bet on rate cuts risk prompting hike instead; markets are optimistic to rule out further hiking; rates should stay unchanged in December and January.
German government spokesperson says court ruling on climate fund means we’re stepping in to new legal territory; all special funds are being reviewed now.
Hungarian PM Orban said Hungary needs to change the EU not leave it, while he also stated that they will need to correct the mistaken promise to start talks about Ukraine’s EU membership.
Fitch affirmed Spain on Friday at A-; Outlook Stable, while Moody’s raised Portugal’s rating by two notches from Baa2 to A3; Outlook Stable and affirmed Italy at Baa3; Outlook revised to Stable from Negative.
Javier Milei won Argentina’s presidential election against Sergio Massa who conceded defeat.

NOTABLE DATA

German Producer Prices MM (Oct) -0.1% vs. Exp. -0.1% (Prev. -0.2%); YY -11.0% vs. Exp. -11.0% (Prev. -14.7%)

NOTABLE US HEADLINES

Sam Altman will not return as OpenAI CEO after being fired on Friday and Emmet Shear is the new interim CEO, according to The Information. Over the weekend, OpenAI staff and investors were behind Sam Altman with Microsoft (MSFT) and venture groups exploring options to bring him back after board members fired him on Friday, according to FT.
APEC leaders agreed to the 2023 Golden Gate Declaration after the conclusion of the meeting, while they reaffirmed the importance of the rules-based multilateral trading system with the WTO at its core and will continue to work to ensure a level playing field to foster a favourable trade and investment environment.

GEOPOLITICS

Israel, Hamas and the US are close to an agreement to free dozens of hostages in Gaza in exchange for a five-day pause in fighting and were reported to have reached a tentative deal, according to the Washington Post. However, the White House said there is no deal yet and they continue to work hard to get a deal between Israel and Hamas.
Israeli forces advanced in Gaza City as Israeli PM Netanyahu resisted calls for a ceasefire, according to FT. In relevant news, Israel’s ambassador to the US Herzog said Israel is hopeful a significant number of hostages could be freed in the coming days.
US President Biden said in an Op-Ed article that a revitalised Palestinian authority should ultimately govern Gaza and the West Bank, while he added that the international community must establish a reconstruction mechanism to sustainably meet Gaza’s long-term needs.
UN Secretary-General Guterres said he is deeply shocked that two UNRWA schools were struck in less than 24 hours in Gaza which killed and injured dozens of people. Guterres also said the civilian toll in Gaza is staggering and unacceptable, while he reiterated the call for an immediate humanitarian ceasefire.
EU’s foreign policy chief Borrell said at a joint press conference with Qatari PM Al-Thani that the UN Security Council resolution on humanitarian pauses in Gaza must be implemented. It was also reported that Qatar’s PM said challenges to the hostages deal are now very minor and that sticking points in negotiations are practical and logistical, while he is more confident now that a deal can be reached on hostages.
Iran’s Foreign Minister said resistance groups are cleverly adjusting pressure on Israel and its supporters and have an ‘unactivated capacity’ for pressure.
Iran’s Supreme Leader Khamenei called on Muslim states to at least cut off political ties with Israel for a limited period of time, according to TASNIM.
Yemen’s Houthis said they will target all ships owned and operated by Israeli companies or carrying the Israeli flag, while the Houthis later announced that they seized an Israeli ship and took it to a Yemeni port.
Chinese Foreign Minister Wang Yi said the international community must act now and take effective measures to end the humanitarian disaster regarding the Gaza situation and that China fully supports the Riyadh summit call for a two-state solution. Saudi’s Foreign Minister also commented that they call for an immediate ceasefire and humanitarian assistance, while he added the international community needs to shoulder the responsibility to stop Israel.
Turkish President Erdogan said Turkey will make efforts to rebuild damaged infrastructure, hospitals and schools in Gaza if a ceasefire is achieved, while he added that Turkey is making a call for nuclear weapons inspections in Israel so no doubt is left on the issue, according to Turkish media.
Armenia and Azerbaijan agreed on basic principles of a peace treaty, according to TASS citing Armenia’s PM.

CRYPTO

Bitcoin is firmer on the session and extending further above the USD 35k mark, with specifics light at the start of a holiday shortened week and action largely a function of a negatively biased USD, thus far.

APAC TRADE

APAC stocks were mostly positive albeit with gains capped amid the lack of fresh catalysts from over the weekend and as participants await this week’s key events including tomorrow’s FOMC minutes release.
ASX 200 finished marginally higher as strength in energy and financials was partly offset by losses in utilities and miners, while a quiet data calendar further added to the non-committal mood.
Nikkei 225 swung between gains and losses in which an early rally saw the index climb above 33,850 and print its highest level since 1990, before wiping out all its gains and more.
Hang Seng and Shanghai Comp outperformed amid resilience in tech and with the property sector underpinned by support pledges, while China’s latest benchmark 1-year and 5-year Loan Prime Rates were unsurprisingly maintained.

NOTABLE HEADLINES

PBoC 1-Year Loan Prime Rate (Nov) 3.45% vs. Exp. 3.45% (Prev. 3.45%); 5-Year Loan Prime Rate 4.20% vs. Exp. 4.20% (Prev. 4.20%)
China’s securities regulator will adopt different policies to address the risk of bond defaults by large real estate companies depending on their respective circumstances, according to Chinese financial media outlet Yicai.
Taiwan’s APEC envoy Chang said he had informal interactions with US President Biden, Vice President Harris and Secretary of State Blinken but didn’t have any interactions with Chinese President Xi.
China is reportedly drafting a “whitelist” of 50 developers for a financing boost, via Bloomberg; designed to guide institutions as they consider support for the industry.

MONDAY MORNING/SUNDAY NIGHT

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

NORTH KOREA/

END

2e) JAPAN

end

3 CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/SATURDAYBREAKING NEWS

they find weapons in a school

(Jerusalem Post)

IDF’s Duvdevan Unit raids Hamas infrastructures, finds weapons in school

By JERUSALEM POST STAFFNOVEMBER 18, 2023 14:00

The IDF’s Duvdevan Unit has raided Hamas infrastructures in the Gaza Strip and found a large amount of weapons and military equipment inside a high school during one of their raids on Saturday, a military spokesperson said.

Soldiers in the Dovdevan Unit encountered and eliminated Hamas terrorists whilst dismantling their infrastructure.

Additionally, the also raided infrastructure at the house belonging to a commander of an engineering company in Hamas’s northern battalions. Weapons and training manuals by Hamas were found in the raid.

END

SATURDAY…

Israel asks Gazans to move south. They kill Hamas terror cells

(zerohedge)

Israel calls on Gazans in south to evacuate, kills Hamas terror cells

As the IDF operates in the northern Gaza Strip, Israeli forces are expected to locate underground tunnels built by Hamas.

By JERUSALEM POST STAFFNOVEMBER 18, 2023 12:16Updated: NOVEMBER 18, 2023 13:41

IDF strikes a host of Hamas terror targets across the Gaza Strip on November 18, 2023 (IDF SPOKESPERSON’S UNIT)

The IDF eliminated a Hamas terrorist cell on Saturday that carried out a barrage of rocket fire on Israel’s center the day before.

Reservists from the IDF’s 16th Jerusalem Brigade identified the terrorists who carried out the shooting from the roof of a building and directed an IAF aircraft to eliminate them.

IDF strikes a Hamas terrorist cell that fired rockets from the Gaza Strip on November 18, 2023 (IDF SPOKESPERSON’S UNIT)

Israel: Residents of Khan Yunis must evacuate

Israel has also called on residents of the city of Khan Yunis to evacuate on Saturday, with leaflets distributed by the IDF that asked them to reach areas where Israel allows the transfer of humanitarian aid.

As the IDF operates in the northern Gaza Strip, Israeli forces are expected to locate underground tunnels built by Hamas.

IDF spokesman R.-Adm Daniel Hagari said on Friday said that more information on Hamas’ underground infrastructure and the hostages’ location were discovered.People walk at the site of an Israeli strike in Khan Younis, in the southern Gaza Strip, on November 18, 2023 (credit: REUTERS/IBRAHEEM ABU MUSTAFA)

Earlier that day, Israeli forces found RPG bombs, mortar bombs, and weapons in a kindergarten in Gaza.

Maariv Online contributed to this report.

END

the cost of the war

(mises)

You’re Paying For The Israel War. You’ll Also Pay For The Refugees.

SATURDAY, NOV 18, 2023 – 09:35 PM

Authored by Ryan McMaken via the Mises Institute,

The United States regime has picked sides in the Israel-Hamas war and has committed to funding Israel’s ongoing bombing of non-combatant men, women, and children in the Gaza strip. Northern Gaza’s infrastructure is now all but destroyed, with millions of Gazans displaced and homeless. Nearly ten times more Gazans than Israelis have now died in the conflict. Many Gazans have fled to the southern portion of Gaza, but homelessness and abject poverty awaits them there.

By employing what is essentially the carpet-bombing approach, Tel Aviv has made the choice of adopting a policy that is sure to produce hundreds of thousands of refugees—or perhaps even more than a million. Indeed, many in the Israeli regime are motivated to maximize refugees, and push Gazans out of the country altogether using the Orwellian phrase “voluntary migration.”

On a military, tactical level, the Israeli state will have no problem accomplishing this. Tel Aviv has an air force, a deep reservoir of American-funded weapons, and a nuclear arsenal. The Israeli military can easily reduce all of Gaza to rubble. But what is sure to result from this is a humanitarian disaster accompanied by a global debate over which foreign country will host the refugees.

Israeli mouthpieces are already at work pushing the cost onto foreign taxpayers, including American ones. This week, two Israeli politicians—one from the militarist Likud party, and one from the center-left Yesh Atid party—took to the pages of The Wall Street Journal to demand that “countries around the world should offer a haven for Gaza residents who seek relocation.” According to these politicians, “[t]he international community”—i.e., not Israel—”has a moral imperative” to resettle Gazans somewhere outside Israel at not-Israel’s expense.

It is significant these claims appeared in an American publication. Tel Aviv is the latest welfare-queen regime—in the tradition of Ukraine’s Volodymyr Zelensky—repeatedly haranguing the American public with demands for free money. It’s no coincidence that Israel’s Benjamin Netanyahu is now seemingly ubiquitous on American prime-time news programs. His primary job right now is to demand money and favors from Washington and from other Western regimes.

It will probably work. Americans should get ready for plane-loads of Gaza refugees arriving in their cities, funded by the American taxpayers who can now barely afford to keep up with the price of groceries. This will be sold as a “humanitarian” effort, but anyone who sees through the propaganda will see that it’s really all a cynical effort to please pro-Israel interest groups and Israeli politicians.

A Pattern of War and Refugees

This was all predictable from the minute the war started last month.

The US and its allies have settled into a predictable pattern in foreign policy over the past thirty years: force the taxpayers to pay for the regime’s wars which involve bombing various poor foreign countries “back into the stone age.” Then, once the refugees start pouring out—and the Americans have lost the war, of course—Western regimes then tell the taxpayers back home to cough up even more money to pay for resettlement of all those refugees whose countries were needlessly destroyed by the bombs dropped by Washington and its allies.

This is no small phenomenon. A 2020 report from Brown University estimated that 37 million people have been made refugees by the US-led “War on Terrorism.” By 2016, 5.2 million of them reached Europe. In 2022 alone, more than 159,000 refugees arrived by sea in Italy, Greece, Spain, Cyprus, and Malta. Thousands more arrive at the land borders of the EU every year.

Thanks to the distance from western Asia and North Africa, refugees totals have been smaller in the United States. Nonetheless, the total number of refugees has ranged from 50,000 to 90,000 per year in most years since the US began its war in Afghanistan. This has transformed a number of communities in the United States, however, since refugees often tend to concentrate in specific places along ethnic or religious lines. In the decades of the US’s endless on-again, off-again military meddling in Somalia, tens of thousands of Somali refugees have been relocated to Minnesota at taxpayers’ expense. Since 2018, Minnesota has hosted more than 40,000 Somalia-born migrants (many classified as refugees). Most of the refugees, of course, are concentrated within Minneapolis’ metro population of only 3.5 million. In democracies, this has political consequences.

It is also important to remember that migrants who enjoy the legal status of refugees are not normal immigrants. Ordinary immigrants arrive at the United States at their own expense. The vast majority must find work on their own if they wish to have an income. They are eligible for few social benefits. Those seeking legal residency, of course, must go through a lengthy administrative process. For example, Mexicans who obtain a work visa in the United States have to work. They don’t show up and receive “free” help from government-funded refugee agencies in finding jobs, apartments, and other government freebies.

In contrast, all of that is fast-tracked for people labeled “refugee” by the federal government, and most of these refugees are immediately eligible for a wide array of taxpayer funded benefits. In total, this all costs the taxpayers nearly two billion dollars per year, or $80,000 per refugee per year in the form of federal and state programs including food stamps, child care, and public housing.

It’s not enough that you pay for the bombs that create the refugees, dear American taxpayer. You’ll also have to pay to resettle those refugees in your town.

END

SUNDAY

supposedly a tentative 5 day pause in exchange for hostages has been reached. However still not to be!

(Jerusalem Post)

Israel And Hamas Reach Tentative 5-Day Pause To Free Hostages

SATURDAY, NOV 18, 2023 – 09:00 PM

Israel, Hamas and the United States are reportedly close to announcing an agreement to pause ongoing hostilities in order to free dozens of women and children being held hostage in Gaza.A plume of smoke rises above northern Gaza after an Israeli strike. (Photo: AFP/Menahem Kahana)

According to the Washington Post, the release could begin within the next several days – and would mark the first sustained pause in the conflict.

Under the terms of a six-page agreement;

All parties would freeze combat operations for at least five days.
During this period, an initial 50 or more hostages would be released in batches every 24 hours.
It is unknown how many of what is believed to be 239 hostages will be released.
The halt is also intended to allow humanitarian assistance to flood in, including fuel, which would arrive from Egypt.

According to the report, an outline of the deal was created during several weeks of talks in Doha, Quatar – where Israel, the USA and Hamas – indirectly represented by Qatari mediators, hashed out the logistics. Until now, it was unclear if Israel would agree to it.

“We are not going to comment,” said a spokesperson for the Israeli embassy in Washington late Saturday.

Concern about the captives — two of whom Israel said were found dead — along with the rising number of Palestinian civilian casualties have steadily increased pressure on Prime Minister Benjamin Netanyahu’s government. More than 100 countries — but, notably, not the United States — have called for a full and immediate cease-fire.

The decision to accept the deal is difficult for Israel, said one person familiar with the situation who, like others, spoke on the condition of anonymity to discuss sensitive negotiations. While there is strong domestic pressure on Netanyahu to bring the hostages home, there are also loud voices in Israel demanding that the government not barter for their release. -WaPo

On Friday, Israeli National Security Council head Tzachi Haegbi told the press that a decision had been made by the war cabinet to agree to a limited ceasefire only after “a massive release of our hostages … and it will be limited and short, because after that we will continue to work towards achieving our war goals.”REUTERS/Ammar Awad

Netanyahu, meanwhile, insisted on Saturday that the offensive would continue despite a decision last week to allow the first consistent flow of fuel back into Gaza since the start of the war. Israel has notably cut off all but a minimal amount of food, water, fuel and medicine.

end

IRAN/ISRAEL/USA/SUNDAY

A partly owned Israel ship seized by Iran in the Red Sea. It is about time that the USA acts against Iran

(zerohedge)

Israel: Iran behind Yemen’s Houthis seizure of ship in Red Sea

The seizure of Bahamas-flagged Galaxy leader is “another act of Iranian terrorism,” Prime Minister Benjamin Netanyahu charged.

By YUVAL BARNEANOVEMBER 19, 2023 15:36Updated: NOVEMBER 19, 2023 18:28

The Bahamas-flagged Galaxy Leader cargo ship(photo credit: SCREENSHOT/VESSELFINDER)

A cargo ship partially owned by an Israeli businessman was hijacked by Yemen’s Houthi rebels in the Red Sea on Sunday, Israel confirmed on Sunday, accusing Iran of directing the maritime piracy.

The cargo ship, Bahamas-flagged Galaxy Leader, was leased from a British company partly owned by Israeli Rami Unger to a Japanese company.

The ship left a port in Turkey headed for India and sailed under the flag of the Bahamas. The Foreign Ministry said it was aware of the incident.

On board the ship are 25 crew members of different nationalities, including Ukrainians, Bulgarians, Filipinos, and Mexicans. No Israelis were onboard, the ministry said.

Two ships owned by Unger were previously attacked by Iran in the Gulf of Oman in 202, as a result of the attack, it received minor damage, and no crew were injured.Armed men hold up their weapons as Houthi supporters rally to show support to Palestinian factions, in Sanaa, Yemen October 7, 2023 (credit: REUTERS/KHALED ABDULLAH)

The Prime Minister’s Office condemned the seizure, highlighting that the ship was not Israeli nor owned by an Israelis.

“This is another act of Iranian terrorism which expresses a leap forward in Iran’s aggression against the citizens of the free world, and creates international implications regarding the security of global shipping lanes.”

Houthis warn of maritime threat against Israel

Earlier in the day a spokesperson for the Iran-aligned Houthi military, Yahya Sarea, said on Sunday the group will target all ships owned or operated by Israeli companies or carrying the Israeli flag, according to the group’s Telegram channel.

The spokesman called on all countries to withdraw their citizens working on the crews of any such ships.

A member of the Houthi political bureau, Muhammad al-Bukhaiti, told Al-Jazeera Live “Either you stop the aggression against Gaza or we will expand the conflict, and we will not allow them to destroy our brothers in Gaza.”

A Houthi-linked news network said earlier in the day that the Houthis “will target all types of ships that carry the flag of the Zionist entity or are operated by or owned by Israeli companies, calling on all countries of the world to withdraw their citizens working on the crews of the enemy entity’s ships, and to avoid shipping on them.”

This means that they will also be targeting ships not just sailing under the Israeli but also carrying cargo owned by Israelis or even partially owned by Israelis.

This would change the nature of the hijacking from general cargo stoppage in war to illegal piracy.

end4

same story as above:

(zerohedge)

Reports Say Israeli Ship “Galaxy Leader” Hijacked By Houthi Terrorists

SUNDAY, NOV 19, 2023 – 09:20 AM

Reports from Arab media indicate that the “Galaxy Leader,” a vehicle carrier vessel, was hijacked in the Red Sea on Monday by the Houthi group, which is supported by Iran, as reported by The Jerusalem Post.

The Galaxy Leader was last seen in the Red Sea (Position: 19.88°(lat) /38.84°(Ion)). The ship is underway, cruising at 17.5 knots.

Additional info on the vessel.

Some X users are saying the vessel is an Israeli-owned ship.

BREAKING: The Houthis have reportedly hijacked Israel’s Galaxy Leader ship in major maritime escalation— Samuel Ramani (@SamRamani2) November 19, 2023

We have reported multiple Israeli-owned vessels have been attacked in 2023:

*Developing…

end…

SUNDAY

Yemen’s Houthis release video footage showing armed men seizing ‘Israeli-linked ship’

By REUTERSNOVEMBER 20, 2023 19:05

Yemen’s Houthis released video footage on Monday showing armed men dropping from a helicopter and seizing a cargo ship in the southern Red Sea.

The footage was released by the movement’s TV channel Al Masirah a day after the ship was hijacked by the Iran-backed group, who said the ship was linked to Israel. Israel, however, says the seized ship was British-owned and Japanese-operated.

SUNDAY

this proves that hostages were taken to Shifa hospital. Watch the two videos

(Jerusalem Post)

Israel says CCTV footage shows hostages were taken to Gaza hospital

19th November 2023, 05:22 ESTShare

By Nick BeakeBBC correspondent in Jerusalem

0:30

Watch: IDF releases CCTV which appears to show Hamas bringing hostages to hospitalhttps://www.bbc.com/news/world-middle-east-67469591

The Israeli military has released footage which it says shows hostages being taken into Gaza’s largest hospital after the deadly Hamas attacks of 7 October.

A military spokesman said one of them – a soldier – was murdered there.

Cpl Noa Marciano, 19, was killed after being taken into al-Shifa hospital with minor injuries, he said.

Israel said a tunnel had been found at the site which it claims was a Hamas command centre. Hamas denies that.

The BBC has not been able to verify the video which was presented at a news briefing by the Israel Defense Forces (IDF) on Sunday.

“This morning we updated Noa’s family that according to our findings, she was kidnapped to a safe house near Shifa,” Rear Adm Daniel Hagari, IDF chief spokesperson told reporters.

“During IDF air strikes in the area, the Hamas terrorist who was holding Noa was killed and she was wounded in the air strike, but not a life-threatening injury. Noa was taken inside Shifa hospital, where she was murdered by another Hamas terrorist.”

Hamas has previously claimed Ms Marciano was killed in an Israeli air strike, which the IDF said occurred on 9 November.

Rear Adm Hagari then played CCTV footage which he said was from the morning of 7 October – the day Hamas launched its surprise attack on southern Israel in which 1,200 Israelis were killed and more than 240 taken hostage.

The video showed two hostages being brought into the hospital, Gaza’s largest and most modern.

Armed men can be seen in the CCTV video which is date-stamped 7 October. One of the hostages appears to be resisting – the other is shown on a stretcher.

The IDF has been under pressure to substantiate its claim that Hamas operated an expansive command centre underneath the vast medical complex in the north of the territory.

Responding to the video released by Israel, the Hamas-run health ministry in Gaza said it was not able to confirm the authenticity of the footage.

The ministry also said it was Israel which bore full responsibility for the deterioration and collapse of health services in Gaza.

Earlier, the IDF released a video that it said showed a tunnel 10m (33ft) below ground that runs for 55m up to a closed and reinforced door.

It said this was now part of the evidence that “clearly proves” numerous buildings in the hospital’s complex have been “used by Hamas as cover for terrorist infrastructure and activities”.

The latest video is not yet the evidence that’s been promised of the sort of vast and intricate operation depicted in a computer simulation which the IDF previously released showing what it believes any Hamas base underground at al-Shifa could look like.

Reuters Tents and shelters used by displaced Palestinians stand at the yard of al-Shifa hospital during the Israeli ground operation around the hospital, in Gaza City. Photo: 12 November 2023 Reuters

The WHO says the hospital – once Gaza’s most modern – has essentially stopped being a medical facility

The US has said it also has intelligence that Hamas has used hospitals in the Gaza Strip, including al-Shifa, as command centres and weapons stores.

Israel has cited US intelligence to substantiate their claim of the existence of a major headquarters at the complex but the Americans’ use of the term “node” may suggest a smaller operation.

Israel believes it is building a credible case and is keen to present evidence as and when it finds it.

While Israel’s allies have supported its military campaign of retaliation, which it says is aimed at eliminating Hamas, they have expressed a lot of unease at the toll that the offensive is having on civilians.

The Hamas-run health ministry says the death toll in Gaza since then has reached 12,300. More than 2,000 people are feared to be buried under rubble.

The government of Israeli Prime Minister Benjamin Netanyahu is also under pressure from families of the hostages. They want him to do more to free those held by Hamas.

On Saturday, protesters calling on the Israeli government to prioritise securing the release of hostages walked from Tel Aviv to Jerusalem before holding a demonstration outside Mr Netanyahu’s residence.

The prime minister, however, appears undeterred in his mission.

He says his first goal of the war is to destroy Hamas; the second to return the hostages; and the third to eliminate the threat from Gaza.

end

SUNDAY:

IDF reveals: How intel led Israel to Hamas’s Shifa terror tunnel

Israeli Military to blow through additional tunnel door • Intelligence estimates indicate that other tunnels are likely to be found shortly

By YONAH JEREMY BOBNOVEMBER 19, 2023 18:59

IDF reveals comprehensive footage of Hamas’s 55-meter-long tunnel under Al-Shifa Hopsital in Gaza (IDF SPOKESPERSON’S UNIT)

The IDF on Sunday unveiled its military moves and intelligence process which led to revealing Hamas’s 55-meter-long tunnel at Al-Shifa Hospital.

According to the IDF, close to the time when the IDF was weighing entering Al-Shifa, there was Shin Bet and IDF intelligence which indicated that Hamas forces were in the Qatar facility and the MRI facility of the complex.

Eventually, the IDF would find many items of terror infrastructure in many places, but the IDF Shaldag special forces’ original mission was to get to those two facilities as quickly as possible, starting with the Qatari facility.

How the IDF entered Al-Shifa Hospital

The IDF entered the complex by blowing through a side wall, as opposed to the main entrance, near a booby-trapped pickup truck to get to the Qatar facility as quickly as possible.

Eventually, a mix of drones and special units searching for the tunnel found a suspicious-looking small covered structure.

IDF reveals comprehensive footage of Hamas’s 55-meter-long tunnel under Al-Shifa Hopsital in Gaza (IDF SPOKESPERSON’S UNIT)

The IDF destroyed the structure with a D9 bulldozer, and only after destroying it, was the IDF able to detect the hidden top of the tunnel.

Once it found the tunnel, the IDF used various technologies to inspect the tunnel, finding it had a long spiral stairwell.

Eventually, the IDF arrived deep into the tunnel and was stopped by thick reinforced doors.

The IDF was working on a plan to breach the doors to continue to follow the tunnel, either to other tunnels or out into open areas.

IDF intelligence estimates that Hamas battalion commanders used such tunnels from Al-Shifa’s strategic location and large size, to easily maneuver between different neighborhoods and fronts without the IDF being able to track them from the air.

More tunnels likely to be found, Israeli intel indicates

Further, intelligence estimates indicate that other tunnels are likely to be found shortly.

The IDF also gave a more exact distance of 50-100 meters from Al-Shifa for its location of the bodies of multiple Israelis taken by Hamas on October 7, whose remains have been brought back to Israel.

It was unclear how long the IDF would remain in control of Al-Shifa and would continue to uncover aspects of Hamas’s use of the area for terror purposes.

But if in the first 24 hours of the operation, the IDF was considering wrapping up the inspections within days, it seems now that the IDF will take much longer to continue to meticulously uncover all Hamas connections to the area.

It is unclear when and if the hospital will return to service any earlier than whenever the full-on stage of the war ends.

This is a developing story.

And the USA gives money to these jerks who still fire on Americans in Iraq and Israel.

end

SUNDAY

BREAKING NEWS//Israel/West Bank

Israel eliminates terrorists, makes arrests, confiscates weapons during West Bank raid

By JERUSALEM POST STAFFNOVEMBER 19, 2023 13:03

The IDF, Shin Bet, and Border Police conducted an overnight operation in the West Bank, the IDF said on Sunday.

Operating in the Palestinian cities of Jenin and Nablus, the Israeli security forces confiscated more than 10 weapons, arrested about 20 individuals, and located disarmed explosives, a bomb-making factory, and observation balloons.

Israeli forces also carried out missions elsewhere in the West Bank, engaging in exchanges of fire with terrorists who opened fire with small arms or through explosives.

As a result of the exchanges of fire, several terrorists were neutralized.Some of the military gear confiscated by the IDF. (credit: IDF)

In total, the Israeli security apparatus detained 38 suspects, bringing the total of wanted people to have been arrested in the West Bank since October 7th to 1,800. Of this figure, about 1,100 are affiliated with Hamas.

END

SUNDAY: Iran vs Israel

Iran\s Houthis attack with impunity in the Red Sea

(Jerusalem Post)

Iran, Houthis attack with impunity in Red Sea – analysis

The Houthis have launched drones, cruise missiles, and a ballistic missile at Israel over the last month and a half, believing they are not deterred

By SETH J. FRANTZMANNOVEMBER 19, 2023 18:35

A view of ballistic missiles during a military parade held by the Houthis to mark the anniversary of their takeover in Sanaa, Yemen September 21, 2023(photo credit: REUTERS/KHALED ABDULLAH)

The Iranian-backed Houthis have openly threatened Israel numerous times since the Hamas attack on Israel on October 7. This is part of a wider campaign across the region by Iranian-backed proxies to threaten Israel. Iranian proxies in Iraq and Syria have attacked US forces 60 times.

The Houthis have launched drones, cruise missiles, and a ballistic missile at Israel over the last month and a half. Now the Houthis have attacked a ship in the Red Sea.

The hijacking of a ship in the Red Sea with two dozen crew is a new escalation by Iran and its proxies. Iranian media is bragging about the Houthi attack. Tasnim News in Iran and the pro-Iranian Al-Mayadeen have both focused on the hijacking of the Galaxy Leader ship in the Red Sea.

In the past, Iran had mined ships and also hijacked ships using helicopters and small boats.

The IDF said that the “hijacking of a cargo ship by the Houthis near Yemen in the southern Red Sea is a very grave incident of global consequence. The ship departed Turkey on its way to India, staffed by civilians of various nationalities, not including Israelis. It is not an Israeli ship.”

Followers of the Houthi movement carry a mock drone during a rally held to mark the Ashura in Saada, Yemen, September 10, 2019. (credit: REUTERS/NAIF RAHMA)

Targeting Israel

The Iran-backed Houthis said on Sunday morning that they would “target all types of ships that carry the flag of the Zionist entity, or that are operated by Israeli companies, or that are owned by Israeli companies, in response to the Israeli aggression against Gaza and the genocide against its people.”

The Houthis have expressed support for Hamas over the past years and have threatened to joint Iranian-backed groups to attack Israel. This is part of Iran’s strategy of uniting various fronts against Israel.

In January 2021 Newsweek revealed that Iran had positioned Shahed 136 drones in Yemen. This is the same drone that Iran then exported to Russia. The drone has a range that could reach Israel. This was one of the early concrete threats from Yemen. The Houthis had tried to take over Yemen in 2015 but Saudi Arabia intervened.

The Houthis then became an Iranian test bed for weapons. The Houthis attacked Riyadh with ballistic missiles and also targeted the UAE. They were designated as terrorists by the US but the Biden administration ended that designation in February 2021.

The official slogan of the Houthis is “death to America, death to Israe

l, curse the Jews.”

They are an anti-semitic organization as well as being an Iranian-backed proxy. They have attempted to threaten ships at sea in the past, but this usually was directed at Saudi Arabia, the US, or others.

Previous Iranian attacks on shipping

Beginning in May 2019 Iran began attacking ships using mines off the coast of Fujairah in the UAE. It also attacked two ships steaming from the Gulf of Oman toward the Persian Gulf.

Iran tried to seize a British vessel in June 2019 and a British navy vessel had to warn the Iranians to stay away. Iran hijacked the British cargo ship Stena Impero in the summer of 2019 and released it later that year. In 2020 Iran hijacked the Gulf Sky ship off the coast of the UAE and took it to Iran.

In January 2021 it seized a South Korean vessel and released it several months later. In May 2022 it seized two Greek ships and then released them in November. In November 2022 Iran targeted a ship called the Pacific Zircon using drones flown from Chabahar. It was the second time a ship had been attacked by an Iranian kamikaze drone. The Mercer Street ship was attacked in July 2021 and two crew members were killed.

The MV Helios Ray was also targeted in February 2021 and the Lori in March while it was headed for India. According to Al-Alam TV, another ship, the Hyperion Ray was also struck in April 2021 while on the way to Fujairah from Kuwait. Another ship, the Tyndall was allegedly threatened in July 2021.

Iran and its proxies are not deterred

The attacks on shipping reflect a lack of deterrence. While many countries, such as the US, UK, and France, have sent naval vessels to the region in the past, and even tried to warn off Iranian attacks, there hasn’t been much pushback against Iran for the numerous attacks. This means Iran and its proxies can sit and wait and decide when and where to attack in a massive large area of ocean that is full of tens of thousands of ships.

Iran and its proxies choose a time and place to strike. They don’t usually receive sanctions or condemnation in return. Iran often claims it is targeting certain ships due to sanctions, unpaid debts, or confiscated Iranian regime funds. The Houthis have now escalated this threat. They now claim they will attack ships in the Red Sea. This is a new threat. The Red Sea has some security arrangements.

In the past, the US Navy has drilled in the Red Sea with various partners. However, the Houthi threat was supposed to be reduced after China brokered Iran-Saudi peace. An oil platform was even repaired by the UN, which could only be done with a ceasefire in Yemen.

Now the Houthis are back to their old threats and this is a serious escalation. The lack of deterrence is part of a wider phenomenon in the region where Iran and its proxies continue to threaten Israel and the US.

They do not appear to be deterred on numerous fronts.

END

MONDAY: A ROUNDUP OF TODAYS’ EVENTS INCLUDING INSIDE AL SHIFA HOSPITAL

Lt. Col Richard Hecht/Israeli Army report:

We Tried to Tell Them About Shifa Hospital

On the dangers of jumping to conclusions

LT. COL. RICHARD HECHT

NOV 20, 20

This is a longer post, but maybe the most important of the war so far. If you know others who could benefit from receiving this update in particular, please share it with them. The truth of Shifa must be known:

I don’t like saying ‘I told you so’. I mean, I do.

Everyone makes mistakes. I certainly do.

And this is particularly true reporting from a war zone. No one bats a thousand (I assume most of you are here for an Israeli-Scottish colonel making baseball references).

But as inevitable as mistakes in war coverage are, that’s not what happened in Shifa.

Mistakes weren’t made in the field. Mistakes were made in assumptions. Assumptions that evidence is either available on-demand and in-full….or is non-existent.

These assumptions have dramatic consequences. As a reminder – when journalists misreported on al-Ahli, pushing demonstrators to the street across the Middle East, corrections two days later couldn’t put the cat back in the bag.

So let’s talk Shifa.

In today’s newsletter, I want to take a step back, look at the old and new evidence that Hamas cynically used Shifa hospital, and then discuss why much of the world jumped to declare that we found ‘nothing’.

white: medical

red: terrorist operations

Bird’s eye view of what’s been revealed so far.

dfspokesperson.substack.com/p/we-tried-to-tell-them-about-shifa?utm_source=substack&utm_medium=email#media-b4ed3efc-fd41-4095-88b2-412ca8f70666

Since 2007, Shifa’s Been Much More than Hospital

Let’s go back to the summer of 2007, almost two years after Israel fully withdrew all soldiers and citizens from Gaza.

In the second week of June, Hamas launched a bloody coup to seize control of the Gaza Strip. This is where Shifa Hospital first enters the story. Just two weeks after Hamas’ takeover, this description of the hospital appeared in BMJ (formerly ‘British Medical Journal’):

Witnesses have said that some injured people coming for hospital treatment have been shot by Hamas militants inside hospitals.

and then this

The hospital is operating beyond 120% capacity. The medical staff are suffering from fear and terror, particularly of the Hamas fighters, who are in every corner of the hospital.”

As far as Hamas was concerned, even when it came to other Palestinians, Shifa was not just a place where people come to heal. Fast forward a year and a half to Operation Cast Lead, and the New York Times writes:

This was absolutely not limited to attacking Palestinians.

2014 – Rockets and ‘De Facto Command Center’

During Operation Protective Edge in 2014, a Finnish TV reporter described rockets being launched at Israel from the Shifa parking lot.

She doesn’t mention it here but it’s certainly worth considering… where were those rockets stored? Were they specially transported to Shifa to launch? Or were they much, much closer?

Also during Protective Edge, the Washington Post published this description of Shifa:

I remind you that all of this was published and knownbefore October 7th and the current war.

So we have a medical facility moonlighting as a de facto headquarters. In this same headquarters, Hamas opponents are executed and rockets are launched at Israelis.

Here’s what the Red Cross has to say about that:

Therefore, specific protection to which hospitals are entitled shall not cease unless they are used by a party to the conflict to commit, outside their humanitarian functions, an “act harmful to the enemy”.

But let’s skip ahead to now.

October and beyond

On October 27th, three weeks after Hamas’ attack and once it became clear a comprehensive ground operation would need to include full freedom of operations within Gaza, the IDF Spokesperson, Rear Admiral Daniel Hagari, the IDF Spokesperson delivered a ten minute long briefing detailing Hamas’ use and abuse of Shifa hospital.

This warning was delivered weeks of calls on the citizens of north Gaza to move south. Because Hamas was using civilians as human shields. And it was using the hospital’s protected status to cower under while Gazans were being treated above them.

What We’ve Discovered (So Far)

On November 14th, the first IDF soldiers entered the Shifa hospital complex. We went in slowly and methodically, not wanting to disturb ongoing medical care, as I mentioned in my Saturday newsletter. These first forces included medical teams and Arabic speakers, who had specified training to prepare for this complex and sensitive environment.

The mission was in keeping with our goals in this war – dismantling Hamas’ capabilities and bringing our hostages home.

But the cost was high.

It meant giving up on the element of surprise. It meant giving up some serious military edges, like our aerial superiority. Most importantly – and perhaps most misunderstood – is that we never thought there would be a smoking gun as soon as we entered the hospital complex.

Hamas had weeks to bury the evidence.

We are – carefully – unearthing the evidence of Hamas’ abuse. Finding the closed-circuit video cameras proving that hostages were brought to the hospital by men wielding guns and machetes. Exploring the underground tunnel – over 50 meters (164 feet) and counting, fortified with explosion proof doors. Finding proof that CPL Noa Marciano was taken to the hospital…and murdered.

But this takes time.

We’ve revealed a lot of information but unearthing two decades of buildup and three weeks of coverups takes time. As we reveal more and more, I’m increasingly asking a question that I remember Adam Grant asking:

A sign of intellect is the ability to change your mind in the face of new facts. A mark of wisdom is refusing to let the fear of admitting you were wrong stop you from getting it right.

How’s this for changing opinion?

dfspokesperson.substack.com/p/we-tried-to-tell-them-about-shifa?utm_source=substack&utm_medium=email#media-b4ed3efc-fd41-4095-88b2-412ca8f70666

The Lesson Going Forward

Honestly, this is an easy one.

It’s increasingly clear that our assertion that Hamas uses hospitals as civilians shields – not just Shifa – is true. As more countries around the world face terrorists that don’t share our values, don’t share the sacredness with which we hold hospitals, and are willing to exploit those values, we must remember a few things:

Same-sideness doesn’t always work. Israel is a liberal democracy. Hamas is a recognized terrorist organization. Giving equal weight to claims from both sides – one with a functional check and balance systems and another that knowingly butchers children in a surprise attack – is just plain wrong.
Evidence takes time. Court cases drag on for months or years because the burden of evidence is exactly that – a burden. Terrorist organizations flatly deny news in seconds; militaries with integrity take time. The media must adapt to this new reality. Otherwise the terrorists will win every single time, laughing at our values as they do.

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Operational Updates

An important general update – there are still a number of rocket launches a day into Israeli territory from Gaza. Each of these rockets are meant to kill and maim Israelis. While most of the civilians closest to Gaza have been evacuated, there is still a risk to those unable to leave.

A full breakdown of all rocket fire into Israel can be found here

Southern Front

Yesterday the IDF continues its efforts to strike Hamas senior and tactical leadership. As part of that, in addition to attacks on terrorist infrastructure and Hamas weapons, IDF fighter jets, directed by IDF and ISA intelligence, killed three additional Hamas company commanders.
Over the last day, the IDF, led by COGAT, helped facilitate the safe evacuation of newborn Gazan babies from the pediatric ward of Shifa Hospital to receive essential medical treatment in Egypt. The coordination of this mission was at the request of Egypt and the Director of the Shifa Hospital. The evacuation was carried out by UN teams with the assistance of IDF teams on the ground. Israeli incubators were provided to the Shifa hospital for the rescue effort of the babies.
Unit 504 of the IDF’s Military Intelligence Directorate is now able to confirm that IDF troops have apprehended over 300 terrorists during the ground operation in Gaza. The terrorists were brought into Israeli territory for further interrogations.

Northern Front

This morning, IDF artillery struck in several locations in Lebanon. A number of launches were then identified from Lebanon into Israeli territory in the areas of Arab al-Aramshe, Biranit and Bar’am. No injuries were reported. As a result of the launches toward the area of Biranit, a fire broke out. The IDF and Israel Fire and Rescue Services arrived at the scene to put out the fire.
In addition, on Monday the IDF targeted a terrorist cell that attempted to launch anti-tank missiles in the area of Marwahin in Lebanon. IDF tanks and aerial forces struck Hezbollah terror infrastructure in Lebanon in response
Another 25 launches were identified from Lebanon toward several locations adjacent to the border, some of which were intercepted and the rest of which fell in open areas.
Three UAVs struck near an IDF post. No injuries were reported. The IDF struck the source of the UAV launches.

Quote of the Day

“We received thousands of phone calls from Gazans, on a scale never seen before in the unit. It is evident that the residents of the Gaza Strip are not satisfied with the barbaric conduct of Hamas, the ordinary civilian understands that Hamas is bringing disaster to the residents of Gaza that will be difficult for them to recover from.”

– Senior Official in the 504 Unit of the Intelligence Directorate

What I’m Reading

On Hezbollah, Lebanon, and the risk of escalation – Brookings

A quick examination of some of the main issues on Israel’s northern border

Snack Update

After starting this post with a reference for the Americans, here’s something only the Brits will appreciate: Yishay, our brilliant video editor, just walked in with a bag of Tyrells Sea & Salt cider vinegar crisps.

Of course, as his officer, it was only appropriate that I requisition a few of them…

38 Likes

10 Restacks

Monday/important:

(Jerusalem Post//)\

the truth that hundreds of terrorist’s were embedded inside the hospitals including Rantisi and Shifa

(Jerusalem Post//)\

IDF’s spy Unit 504 was critical in unmasking Hamas’s abuse of hospitals

Unit returns to southern Israel after decade-long hiatus; Has interrogated over 500 terrorists and sent out over 10 million evacuation messages.

By YONAH JEREMY BOBNOVEMBER 20, 2023 16:33

Interrogation of a Hamas terrorist, dated to November 12 (IDF SPOKESPERSON’S UNIT)

IDF Unit 504, the military’s human spying version of the Mossad, has been vital in unmasking Hamas’s abuse of hospitals for a variety of terror and military purposes, The Jerusalem Post can now disclose.

This information was previously provided to a closed group of military reporters but had been kept censored due to operational considerations.

In a recording of a Unit 504 interrogation of a Palestinian who had been in Shifa Hospital, he said there were many Hamas forces there, which upset the medical staff, who knew about their presence.Infographic from the IDF detailing the efforts made by Unit 504 in warning Gaza’s population to evacuate, November 20, 2023 (IDF Spokesperson’s Unit)

The interrogated Hamas terrorist estimated that he himself alone had seen between 80-100 terrorists (likely only a portion of Hamas taking into account that Shifa is a large complex with many facilities.)

He added that Hamas and Islamic Jihad terrorists were “camouflaged” in the dress of various kinds of medical helpers, including using the emergency room for their activities.

Another Palestinian, Hamdoah Riad Assad Samlah, told how Hamas terrorists were using 50,000 Palestinian civilians at the large Palestine Red Crescent Society building in Gaza as human shields.

He said that no one would resist Hamas or they might be killed.

Further, he added that Hamas wrapped their rockets in civilian blankets to hide them from the IDF and were frequently shooting from the nearby surroundings of the building.

Another Palestinian told Unit 504 that he saw over 100 Hamas terrorists controlling Rantisi Hospital in Gaza, split up into tents of around five to six men per tent.

He said that he was also in a hospital known as the Sweden Hospital, where he saw at least seven Hamas terrorists. Though they were in civilian garb, he said he knew one of them personally, and that the rest were armed.

Hamas terrorist interrogated by Israeli security forces describes Hamas’s use of hospitals to cover its terror activities (IDF Spokesperson’s Unit)

Another disclosure is that – after a hiatus dating back more than a decade – Unit 504 has reestablished a new physical center and unit to handle Gaza issues and security issues on Israel’s southern border.

This has been possible since Unit 504 has doubled its size since the Israel-Gaza war started, including with some of the most highly trained reservists in the IDF.

Until the war started on October 7, Unit 504 was focused more on Lebanon, Syria, and other Middle Eastern countries.

For example, the Unit’s involvement in arranging medical and infrastructure assistance for Syrian militias on the Syrian side of the Golan Heights during the Syrian Civil War of the 2010s has been previously reported by the Post and others.

In addition, the IDF said that Unit 504 has interrogated over 500 terrorists since October 7, and arrested and questioned over 300 terrorists since the start of the Gaza counter-invasion.

Next, an IDF statement said that Unit 504 has helped flag 300 terror sites for IDF operations, with over 100 of those sites having later been attacked by various IDF forces.

Over 300 Hamas terrorists captured and taken to Israel

A senior Unit 504 commander said, “Until now, we have arrested more than 300 terrorists as part of the invasion, who were taken for extended questioning to Israel. The information which came out of questioning such prisoners has had tremendous value, led to eliminating other terrorists, and to enhancing the security of our forces.”

The senior officer added that his unit had also received thousands of calls from Gazan Palestinians wanting to help them with intelligence or otherwise cooperate against Hamas, “an order of magnitude which we had never seen before. It seems that the residents of Gaza are unhappy with the barbaric conduct of Hamas.”

In order to accomplish these many missions, dozens of Arabic-speaking field interrogators are spread throughout the battle areas in Gaza at the division, brigade, and battalion levels.

Unit 504’s field interrogation personnel are not just bringing back terrorists to Israel for questioning, but are also questioning terrorists often in the field in real-time to assist IDF forces with their immediate battle maneuvers as well as finding Hamas’s sensitive locations on nearby Gaza streets.

Besides these interrogated detainees giving Unit 504 questioners information about sensitive terror locations in general, they have been especially helpful in locating Hamas’s tunnel network, the method of operation of the enemy, and how Hamas has tried to fade into civilian locations or the civilian population, said the IDF.

Another way that Unit 504 helps the invading ground forces is by collecting critical surveillance on the wider front they are about to face.

In addition, Unit 504’s technological team developed a 360-degree virtual reality device to help soldiers see and feel what it is like in battle areas of Gaza at street level. The VR program is based on real videos taken by spies in Gaza working on behalf of Unit 504.

The mix of real-time intelligence with operational knowledge has led to a huge number of successful targeting operations as well as smarter maneuvering in the face of potential enemy ambushes.

Unit 504 has also had a lead role in convincing the vast majority of northern Gaza Palestinians to evacuate.

This has been done by a mix of over 10 million electronic messages, nine million recorded messages, and over 30,000 telephone calls from officers trained not only in Arabic, but in connecting culturally with Palestinians, but also by various psychological and social media campaigns. Also, around four million flyers were dropped pressing Palestinian civilians to flee South.

In one case, the IDF learned from Palestinian civilians about a Hamas outpost that was blocking them from evacuating and was able to use that information to remove the Hamas forces that were interfering.

MONDAY

Israel/Hezbollah

Suspected drones launched from Lebanon after Israeli strikes

Rocket sirens sounded in Kiryat Shmona and the nearby border towns of Shlomi, Manara, and Margaliot amid a heavy barrage from Lebanon.

By JERUSALEM POST STAFFNOVEMBER 20, 2023 10:56Updated: NOVEMBER 20, 2023 13:58

Israeli soldiers patrol in the snow in Mount Hermon, near the Israeli border with Lebanon, northern Israel, November 20, 2023(photo credit: AYAL MARGOLIN/FLASH90)

Two drones were launched toward Israel after Israeli artillery forces struck several terror targets across the Lebanese border early on Monday morning, the IDF said.

Hezbollah reportedly responded to the fire, with sirens sounded in northern Israel later on Monday, after which a fire broke out along the northern border due to a suspected impact. IDF and firefighting forces were at the scene.

The IDF also struck the source of the rocket fire, it said.

Smoke rises close to the border with Lebanon, in northern Israel, November 15, 2023 (credit: REUTERS/EVELYN HOCKSTEIN)

Drones launched amid rocket barrage from Lebanon

Later on Sunday, rocket sirens sounded in Kiryat Shmona and the nearby border towns of Shlomi, Manara, and Margaliot amid a heavy barrage from Lebanon.

At least two drones were also launched toward Israel, one of which was shot down.

At least three interceptions were observed above the nearly fully-evacuated Kiryat Shmona, Israeli media reported.

END

MONDAYBREAKING NEWS

Israel denies reports of a ceasefire

(Jerusalem Post)

Hamas, Israel deny reports of ceasefire, hostage deal again

By JERUSALEM POST STAFFNOVEMBER 19, 2023 23:19Updated: NOVEMBER 20, 2023 03:08

A senior Israeli source and a senior member of Hamas rejected a report that cited an unnamed source from Hamas that an agreement to start a ceasefire on Monday and release a number of hostages had been reached on Sunday.

The Jordanian al-Ghad newspaper reported that a source from Hamas had said that a five-day ceasefire would start at 11 am on Monday and that 50 hostages held by Hamas would be released in exchange for 50 Palestinian prisoners in Israeli prisons. A senior Israeli source stated that “there is nothing as of now.”

Izzat al-Risheq, a senior member of Hamas, stated early Monday morning that “There is no truth to what the media reported, attributed to sources in Hamas, regarding an exchange deal starting today.”

end

Monday

IDF kills three Hamas division commanders in Gaza, strikes terror warehouse

The IDF announces names of two soldiers killed in fighting in Gaza • IAF fighter jets strike a warehouse containing Hamas terrorists and weaponry

By JERUSALEM POST STAFFNOVEMBER 20, 2023 09:07Updated: NOVEMBER 20, 2023 12:51

IDF soldiers operate in the Gaza Strip, November 20, 2023 (IDF SPOKESPERSON’S UNIT)https://www.jpost.com/arab-israeli-conflict/gaza-news/article-77413

The IDF continued its operations across the Gaza Strip on Monday, killing three Hamas division commanders after being led to the terrorists by the Shin Bet (Israel Security Agency) and the Military Intelligence Directorate.

Israeli forces on the ground and in the air continued destroying terror infrastructure across Gaza, including tunnels.

As part of efforts to locate Hamas’s hidden caches of weapons, fighter jets in coordination with the IDF’s 933rd Nahal Brigade struck and killed a terror cell hiding in a warehouse containing various weaponry.

The IDF released footage of the strike on the Gaza warehouse.

IAF fighter jets strike a warehouse containing Hamas terrorists and weaponry, November 20, 2023 (IDF SPOKESPERSON’S UNIT)

IDF announces names of three soldiers killed in fighting in Gaza

Earlier on Monday, the IDF announced the names of three additional soldiers killed in combat in the northern Gaza Strip:

• St.-Sgt. Dvir Barazani, 20, from Jerusalem.

• Sgt. Yinon Tamir, 20, from Pardess Hanna. Advertisement

• St.-Sgt. Eytan Dishon, 21, from Jerusalem.

Some 387 IDF soldiers have been killed since Hamas launched its assault on Israel on October 7, among more than 1,200 in total.

end

Monday

a must see…..

Hamas’s tools of terror put on display for international press“There’s a lot of money that goes into this. Someone is funding and planning for a long time, and we see the result—a massacre of civilians.”By AARON PORIS/THE MEDIA LINE posts[i].image.ImageName (photo credit: Aaron Poris/The Media Line) A Hamas-made RPG-7 dual warhead and thermobaric explosive rocket, Nov. 16, 2023.(photo credit: Aaron Poris/The Media Line)

The Israel Defense Forces (IDF) invited members of the international press last Thursday to a base in central Israel for a small taste of what Hamas terrorists used against Israeli civilians on October 7.

From the pickup trucks and motorcycles that ferried terrorists into Israel, as well as Israeli hostages back to Gaza, to AK-47s and thermobaric grenades, the armory collected for viewing was but a tiny fraction of what was recovered by the IDF in southern Israel’s civilian communities.

Lt. Col. Idan Sharon-Kettler, deputy commander of the IDF’s enemy equipment collection unit explains that the exhibit’s message was twofold.

First, to dispel the notion that Hamas is just some militia that targeted legitimate military objectives. Sharon-Kettler says the IDF saw “vast amounts of weapons, [and] of explosive materials used not against soldiers, but citizens and families in their own houses.”

Military-grade weapons used against civilians

The equipment included military-grade weapons like the Shawaz anti-tank explosive which was used to break into Israeli civilians’ protected shelters and safe rooms; and thermobaric grenades, which raise the temperature in a given space to 3,000 degrees Celsius.

Lt. Col. (res.) Idan Sharon-Kettler speaks about the AK-47 rifles used by Hamas, on an IDF base in central Israel, Nov. 16, 2023. (credit: Aaron Poris/The Media Line)

These grenades were used in houses and civilian cars at the Nova music festival to incinerate everything, and everyone, in their vicinity.

Second, the display was meant to put Hamas and the October 7 atrocities into the context of a more global war against Islamist fundamentalist terror.

“There is a general comment about Gaza as being an open-air prison,” Sharon-Kettler adds. “[These weapons] can’t be found in a prison. This is [the result of] organized smuggling into Gaza from many different countries. There’s a lot of money that goes into this. Someone is funding and planning for a long time, and we see the result—a massacre of civilians.”

Among the contributing countries: Iran with UAV attack drones, TNT, and RPG-7 dual warhead rockets. Also, Russia and North Korea provided Hamas with RPG-7 rockets and RPG-7 anti-personnel fragmentation rockets, respectively.

Go to the full article >>

end

MONDAY AFTERNOON

Indonesian Hospital is now surrounded. Like Shifa and Rantissi, many Hamas terrorists are situated inside this hospital as well

(zerohedge)

Israeli Tanks Surround Another Gaza Hospital, As WHO Team Inspects “Death Zone” At Al-Shifa

MONDAY, NOV 20, 2023 – 11:30 AM

Last week saw international media attention focus on the fate of Gaza’s Al-Shifa Hospital, which is the Strip’s largest, after thousands of Palestinians took shelter there. Israeli forces had stormed and took control of it while alleging the large hospital complex served as a Hamas base of operations. As of Monday a UN World Health Organization (WHO) team has reached the hospital, after Al-Shifa stopped functioning, and described a “death zone”:

WHO said that there are 24 health workers and 291 patients at the hospital, including 32 babies in critical condition, two people in intensive care without ventilation and 22 patients on dialysis whose treatment has been “severely compromised.” It noted that the hospital is no longer operating and that there have been a number of patient deaths in the last two to three days.

Recent scene at the Indonesian Hospital in Gaza, via Jakarta Post

The WHO in a new statement described, “Lack of clean water, fuel, medicines, food and other essential aid over the last 6 weeks have caused Al-Shifa Hospital — once the largest, most advanced and best equipped referral hospital in Gaza — to essentially stop functioning as a medical facility.”

The press release continued, “The team observed that due to the security situation, it has been impossible for the staff to carry out effective waste management in the hospital.” This confirms that doctors and nurses have been working amid horrid and unsanitary conditions.

But another hospital has also now come into focus after IDF tanks surrounded it. Gaza’s Indonesian Hospital reportedly has bodies piled up outside of it, but amid heavy artillery fire the deceased can’t be recovered.

Gaza’s Health Ministry called the situation “catastrophic” as hundreds remained trapped in the hospital complex. The standoff is unfolding much like events at Al-Shifa.

“The Indonesian Hospital staff are insisting they will stay to treat the wounded. There are about 700 people, including medical staff and injured people, inside the hospital,” Gaza Health Ministry spokesman Ashraf al-Qudra said.

As tragic images of civilian death and suffering continue to emerge daily out of Gaza, the White House says it is edging close to a deal to secure the release of some of the hostages.

White House deputy national security adviser Jon Finer said in US media interviews Sunday that “considerably more than 12” hostages are set to be freed.

However there are still many hurdles: “What I can say at this point is that some of the outstanding areas of disagreement, in a very complicated, very sensitive negotiation, have been narrowed,” he told NBC’s “Meet the Press” program.

“I believe we are closer than we have been in quite some time, maybe closer than we have been since the beginning of this process, to getting this deal done,” he added. Israeli Ambassador to the United States Michael Herzog also said that a deal is close. He told ABC News that multiple hostages could be freed by Hamas “in coming days.”

As for Finer, he still underscored that caution is warranted: “Nothing is agreed until everything is agreed. Sensitive negotiations like this can fall apart at the last minute.”

But it is possible and even likely that all of this progress in negotiations could be jeopardized if Israel expands its offensive to the south, as the IDF has been warning in the past days. Israel says it is racing to recover more of the some 230 hostages kidnapped by Hamas and Palestinian Islamic Jihad (PIJ).

end

Monday late afternoon
BREAKING NEWS

Rocket fall in Holon damages vehicle, no injuries

By JERUSALEM POST STAFFNOVEMBER 20, 2023 18:38

Shrapnel from a rocket struck a vehicle in Holon on Monday night, as a huge barrage of rockets hit central Israel. Israel Police are investigating and have closed off the area but have stated that there are no injuries

Tel Aviv, Holon, Ramat Gan and cities across central Israel saw a huge barrage of rockets from Gaza at around 6 PM on Monday night.

This is a developing story.

RUSSIA/UKRAINE

END

GLOBAL VACCINE/COVID ISSUES

ROBERT H:

The real Covid jab scandal is finally emerging

The truth is likely that no one should have taken these vaccines. We all have been used for money and gain. Danielle Smith was correct to fire all those involved in Alberta.

https://www.telegraph.co.uk/news/2023/11/09/the-real-covid-jab-scandal-is-finally-emerging/

END

DR PAUL ALEXANDER:

Is the arm begging soldiers who refused COVID vaccine and were laid off, fired, separated from service, to NOW return to duty? Seems so and IGOR CHUDOV writes a strong substack highlighting this; I

share for debate; ‘Army forced to reverse course, as people refuse to enlist’;

DR. PAUL ALEXANDERNOV 18

READ IN APP

‘The United States Army is now begging COVID unvaccinated soldiers, who underwent involuntary discharge for their refusal to take the vaccine, to return to service and also permits them to correct their military records!’

END

BIDEN INC. has flooded American now with 6 million illegals, 170 hard terrorists at border were stopped/held, 1.5 million ‘got-aways’; can you consider the number of terrorists who ‘got-away’? Would

they kill us? Yes. Must your daughters be trained to shoot & defend her life by taking life? If hers is threatened? Yes! Can she? Yes, she can protect herself but must be willing to become the animal

DR. PAUL ALEXANDERNOV 18END
Karen Kingston writes a stirring piece on the pure LIE about the COVID mRNA technology gene based vaccine: “Do People Care Enough About Each Other to Speak Out Against Catastrophic ‘Vaccines’? It’spast the time to continue to tolerate this “mRNA vaccine experiment.” We were promised that the COVID-19 shots were going stop the spread of the ‘virus’ and end the pandemic. We were lied to. DECEIVEDDR. PAUL ALEXANDERNOV 18 READ IN APP The Kingston ReportDo People Care Enough About Each Other to Speak Out Against Catastrophic ‘Vaccines’?November 11, 2023: The definition of catastrophic is “involving or causing sudden great damage or suffering.” Synonyms of catastrophic include disastrous, tragic, and fatal. What if Americans Demanded that the COVID-19 Injections Be Pulled Immediately…Read more7 days ago · 78 likes · 5 comments · Karen Kingston‘November 11, 2023: The definition of catastrophic is “involving or causing sudden great damage or suffering.” Synonyms of catastrophic include disastrous, tragic, and fatal.What if Americans Demanded that the COVID-19 Injections Be Pulled Immediately?In 1999, the rotovirus vaccine (RotaShield) was pulled off the US market due to five (5) cases (0.05%) of respiratory infection among 10,054 pediatric vaccine recipients. The mRNA injections have caused catastrophic harm to millions of Americans and global citizens.END‘SUMMER OF “CLOTTING SUDDENLY” – Strokes in Young people – 35 cases from June to Oct 2023 – UK Disability data shows Strokes in ages 16-19 are up +563% in 2022 and rising! Latest graphs & data’Makis does a strong substack here worth sharing; look, many cases we cannot definitively say its the mRNA technology (Weissman, Malone, Kariko, Bancel, Bourla, Sahin) shot definitively, but closeDR. PAUL ALEXANDERNOV 18 READ IN APP Many people have bleeding and clotting, paralysis, hemiparesis, ischemic attacks (strokes, TIAs), brain bleeds, aneurysms, Bell’s Palsy etc. as a result of the spike protein (virus or vaccine induced). See this chart from WHO’s database:We have many instances of people, young people too DYING IN THEIR SLEEP, DYING AT DAWN, DYING SUDDENLY’. Pilots now being incapacitated, dying. We argue that it may take one to two full commercial planes dropping from the skies for the FAA, NTSB, Airlines to listen and work to ensure pilots are fully fit to fly before entering the cockpit e.g. by ruling out silent myocarditis, any conditions due to the vaccine. Mandate chest MRIs, EKGs, troponin tests (heart muscle damage), D-Dimer tests (clots). We are seeing many instances where the electrical conduction across the heart is hobbled post vaccine (Pfizer, Moderna etc.). Of course it would be when the heart muscle is scarred in myocarditis.Evidence indicates that a vaccinated person may be producing spike protein and an inflammatory immune response likely 24/7 for the rest of their lives. It is a serious matter now. Many are suffering LONG-COVID and symptoms post virus or vaccine that mimicks actual COVID. The outcome can be as far as death.This is why dissolving the spike protein post vaccine especially is so very important:Link to examine the Spike Recovery formulation:Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Subscribedhttps://www.twc.health/collections/covid19/products/long-haul-formula?ref=PaulendArgentina elected TRUMP 2.0! ‘Milei is against abortion, pro-gun, vowed to cut ties with Argentina’s key trading partners China and Brazil, insulted Pope Francis, questioned the death toll underArgentina’s brutal dictatorship, and says humans are not behind climate change.’ I love this guy already, this is the type of big stones leaders we need; ARGENTINA SHOCKS WORLD! hope he deliversDR. PAUL ALEXANDERNOV 20 READ IN APP

SLAY NEWS

he latest reports from Slay News

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The latest reports from Slay NewsModerna Admits Covid mRNA Shots Cause Cancer, Testimony Reveals A world-renowned vaccine expert has presented evidence during congressional testimony showing that pharmaceutical giant Moderna knows its Covid mRNA shots cause cancer.READ MORE U.S Army Begs Unvaxxed Troops to Return The United States Army has sent begging letters to troops who underwent involuntary discharge because they refused to be vaccinated for Covid.READ MORE Comer: Biden’s Brother Has ‘Signaled’ That He Will Cooperate with Investigators House Oversight Committee Chairman James Comer (R-KY) has revealed that Democrat President Joe Biden’s brother James has “signaled” that he’s willing to start cooperating with investigators.READ MORE Federal Judge Strikes Down Gun Possession Limit for Violating Second Amendment A judge has struck down a law that placed limits on citizens’ Second Amendment rights, ruling that the provision is unconstitutional.READ MORE Anti-Trump Eugene Vindman Announces Run for Congress as a Democrat Retired Army Col. 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EVOL NEWS

Australia to Ban Cash, Mandate ‘Digital Passport’ for PublicREAD MORE…

LATEST NEWS:

Canada Now Euthanizes an Average 36 Citizens Every DayREAD MORE…

LATEST NEWS:

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NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

WHO Planning to Enslave Public with ‘Global Health Dictatorship’The World Health Organization (WHO) is plotting with the United Nations (UN) and World Economic Forum (WEF) to enslave the public by ushering in a “global health dictatorship.”READ THE FULL REPORT

Canada Now Euthanizes an Average 36 Citizens Every Day Canada’s liberal euthanasia laws are now seeing an average of 36 citizens being euthanized by the government every single day.READ THE FULL REPORT

Special Counsel Investigating Biden’s Classified Documents Case Not Expected to Bring Criminal Charges Robert Hur, the special counsel investigating stolen classified documents involving Joe Biden, is not expected to file criminal charges, as reported by The Wall Street Journal.READ THE FULL REPORT

House Oversight Reacts to Report Special Counsel Will Shut Down Biden’s Classified Docs Case According to new reports, Special Counsel Robert Hur will not seek charges relating to the mishandling of secret data at two locations connected to President Joe Biden.READ THE FULL REPORT

State AGs Files Petition to Reverse ‘Unconstitutional’ Gag Order Against President Trump.Missouri attorney general Andrew Bailey filed a petition to the court to lift the “unconstitutional” gag order against Donald Trump on Thursday.READ THE FULL REPORT

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//

ARGENTINA

Amazing: “Trump 2.0” wins the election in Argentina.

(zerohedge)

Anti-Woke Central Bank Nemesis Javier Milei Wins Argentina’s Presidential Election

SUNDAY, NOV 19, 2023 – 06:30 PM

Javier Milei, the outsider libertarian candidate with radical solutions to Argentina’s economic crisis, has just won Sunday’s presidential runoff against Economy Minister Sergio Massa.

In a surprise outcome, Massa conceded in a speech to supporters in Buenos Aires on Sunday even before the official results were released, saying he called Milei to congratulate him on his victory.

Javier Milei, a 53-year-old far-right economist and former television pundit with no governing experience, claimed nearly 56 percent of the vote, with more than 80 percent of votes tallied. It was a stunning upset over Sergio Massa, the center-left economy minister who has struggled to resolve the country’s worst economic crisis in two decades.

Voters in this nation of 46 million demanded a drastic change from a government that has sent the peso tumbling, inflation skyrocketing and more than 40 percent of the population into poverty. And with Milei, Argentina takes a leap into the unknown — with a leader promising to shatter the entire system, which the locals now correctly realize, is broken.

Milei, who two months ago was interviewed by Tucker Carlson, has promised to fix Argentina’s perennial economic problems by making drastic budget cuts, replacing the battered peso with the US dollar and shutting down the central bank. He will take office on Dec. 10.

Massa, from the ruling Peronist coalition, placed first in October’s first round, a remarkable comeback after losing a primary election two months previously. But the dire state of Argentina’s economy, plagued by 143% hyperinflation and a looming recession, posed a challenge too far to his presidential bid.

“Argentines chose another path,” Massa said in a speech to supporters. Polls before the vote showed Milei with a slight edge over his rival.

For those unfamiliar with Milei’s unique style, the following clip should be rather informative:

Commenting on Milei’s victory, Elon Musk predicted that “Prosperity is ahead for Argentina.”

A Milei presidency will have profound implications for not only the third-largest economy in Latin America, but also the region and the world. In a continent dominated by leftist leaders, Milei could create tensions with governments he has attacked, including crucial trading partner and neighbor Brazil. In an era of growing Chinese influence in Latin America, Milei could become the region’s most vocal antagonist to a country he once called “an assassin.”

Milei made a name for himself as a television pundit who insulted other guests, and has shown a tendency to fight with the news media. In presidential debates, he has cast doubt on the widely accepted tally of murders during the country’s Dirty War from 1976 to 1983.

He has branded Argentine Pope Francis an “evil” leftist, called climate change a “socialist lie” and said he would hold a referendum to undo the three-year-old law that legalized abortion.

Wielding chain saws on the campaign trail, the wild-haired Milei vowed to slash public spending in a country heavily dependent on government subsidies. He pledged to dollarize the economy, shut down the central bank and cut the number of government ministries from 18 to eight. His rallying campaign cry was a takedown of the country’s political “caste” — an Argentine version of Trump’s “drain the swamp.”

Massa was emblematic of that ruling elite — “the king of the caste,” said political analyst Pablo Touzón. The career politician attempted to distance himself from the leftist government of Alberto Fernández and Cristina Fernández de Kirchner, the heirs to the populist dynasty first launched by Juan and Eva “Evita” Peron in the 1940s. Along with a grassroots campaign of activists, Massa sought to stoke fear over a Milei presidency they argued could threaten Argentina’s democracy and way of life.

But ultimately, anger won over fear. For many Argentines, the bigger risk was more of the same.

“We don’t have anything to lose,” Tomás Limodio, a 36-year-old business owner who voted for Milei in Buenos Aires on Sunday. “We’ve had this type of government for so many years, and things are only getting worse.”

* * *

Earlier:

Argentinians return to the polls on Sunday, November 19 to elect the next president in a consequential runoff election. Voters will choose between incumbent Finance Minister Sergio Massa and right-wing libertarian Javier Milei. The election results will shape Argentina’s social and macroeconomic outlook in coming years.

As Goldman writes in its election preview note, polls point to a tightly contested race, with a majority showing Milei having a slight edge in voter preferences. A significant fraction (around one third of polls), however, suggests that Massa is in the lead. In general, polls in Argentina have a poor track record and in this electoral process they have systematically failed to capture shifts in voters’ sentiment. To add to the uncertainty, Massa was seen as outperforming Milei in the final presidential debate last week.

In the August primary elections (PASO), Javier Milei’s La Libertad Avanza party surprised by taking the lead, followed by the center-right coalition Juntos por el Cambio whose presidential ticket would be led by Patricia Bullrich. Massa’s left-leaning Peronist coalition, Unión por la Patria, finished third. In the October first round election, in turn, Massa topped most expectations with an improved performance and finished first. Milei came in second place without a significant change in support, and Bullrich disappointed and finished a distant third.

After the first-round election, part of the Juntos por el Cambio coalition, the faction led by Ms. Bullrich and former President Mauricio Macri, announced their support for Mr. Milei. While the bloc represented by the Radical Party decided not to formally endorse any of the candidates, some members have publicly sided with Mr. Massa.

Following Sunday´s results, investors will turn their attention to economic policy announcements. In the short term, the highly managed exchange rate will be a critical variable to follow. After the August primary elections, the government weakened the exchange rate by about 22% to 350 ARS per Dollar. Subsequently, the exchange rate was kept frozen at this level until this week, when a crawl resumed (1.0% so far this week). Nevertheless, pass-through was high and inflation accelerated considerably after the post-PASO devaluation and as a result, the real exchange rate is now even more overvalued than before the August devaluation.

Parallel exchange rates, for their part, continue to trade at a significant spread over the official rate (162% for the informal market exchange rate and around 145% for the bond (MEP) and equity (CCL) implied rates) and the futures market anticipates a meaningful depreciation in the months ahead. Pressures in both markets, however, eased after the first-round election showed Massa first, having increased significantly following Milei’s outperformance in the August PASO.

Likewise important, in the coming months there are significant payments scheduled to the IMF (around US$0.9bn in December and US$1.9bn in January) and foreign currency bond holders (approximately US$1.5bn due in interest payments in January). In the meantime, the EFF program with the IMF remains off track, and in our view its realignment will take time.

Regardless of the election winner, Goldman writes that a swift change in economic policies is imperative. The accumulated imbalances in the economy have grown too large and must be addressed promptly. The bank expects the economy to contract for the second year in a row in 2024, annual inflation is tracking at close to 150% and is expected to continue to rise in the coming months, the exchange rate is overvalued, international reserves are at critical levels, net reserves are significantly negative (around -US11bn), the fiscal imbalance persists, sovereign bonds trade at distressed levels, and the government lacks access to international financial markets. All in, if policymakers do not steer macro policy in a more orthodox direction, the macro adjustment could impose itself sooner or later, bringing a loss of control of the process and even higher social and economic costs.

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 7;30AM//OPENING AND CLOSINGS

EURO VS USA DOLLAR: 1.0929 UP 0.0024

USA/ YEN 148.27 DOWN 1.062 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2476 UP 0.0023

USA/CAN DOLLAR: 1.3719 UP 23 (CDN DOLLAR DOWN 23 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED UP 13.95 PTS OR 0.46%

Hang Seng CLOSED UP 323.80 PTS OR 1.86%

AUSTRALIA CLOSED UP .11% // EUROPEAN BOURSE: ALL MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL MIXED

2/ CHINESE BOURSES / :Hang SENG UP 323.80 PTS OR 1.86%

/SHANGHAI CLOSED UP 13.95 PTS OR 0.46%

AUSTRALIA BOURSE CLOSED UP 0.11%

(Nikkei (Japan) CLOSED DOWN 197.17 PTS OR 0.59%

INDIA’S SENSEX IN THE RED

Gold very early morning trading: 1971.30

silver:$23.34

USA dollar index early MONDAY morning: 103.46 DOWN 33 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 3.220% UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.743% DOWN 0 AND 6//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.605 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 4.348 DOWN 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.6173 UP 3 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.0941 UP 0.0036 or 36 basis points

USA/Japan: 148.37 DOWN 0.961 OR YEN UP 96 basis points/

Great Britain/USA 1.2496 UP 0.0043 OR 43 BASIS POINTS //

Canadian dollar DOWN .0032 OR 32 BASIS pts to 1.3729

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The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.1693

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1644)

TURKISH LIRA: 28.76 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.743…VERY DANGEROUS

Your closing 10 yr US bond yield UP 3 in basis points from FRIDAY at 4.468% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.615 UP 2 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.915 UP 1 BASIS PTS.

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

London: CLOSED DOWN 7.84 POINTS or 0.10%

German Dax : CLOSED DOWN 7.27 PTS OR 0.05%

Paris CAC CLOSED UP 15.78 PTS OR 0.22%

Spain IBEX UP 92,10 PTS OR 0.94%

Italian MIB: CLOSED UP 36.97 PTS OR 0.13%

WTI Oil price 77.55 12: EST

Brent Oil: 82.79 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 88L40; ROUBLE UP 1 AND 60//100

GERMAN 10 YR BOND YIELD; +2.5175 UP 3 BASIS PTS

UK 10 YR YIELD: 4.1705 UP 4 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0945 UP 0.0040 OR 40 BASIS POINTS

British Pound: 1.2510 UP .0057 or 57 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.1710% UP 4 BASIS PTS//

JAPAN 10 YR YIELD: .746%

USA dollar vs Japanese Yen: 148.35 DOWN 0.9840 //YEN UP 98 BASIS PTS//

USA dollar vs Canadian dollar: 1.3725 UP 0.0028 CDN dollar UP 28 basis pts)

West Texas intermediate oil: 77.50

Brent OIL: 82.08

USA 10 yr bond yield DOWN 2 BASIS pts to 4.4222%

USA 30 yr bond yield DOWN 3 BASIS PTS to 4.566%

USA 2 YR BOND: UP 1/4 PTS AT 4.909 %

USA dollar index: 103.33 DOWN 47 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 28.75 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 90.00 DOWN 0 AND 86/100 roubles

GOLD 1977.00 3:30 PM

SILVER: 23,44 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 203.76 PTS OR 0.58%

NASDAQ UP 189.07 PTS OR 1.19%

VOLATILITY INDEX: 13.44 DOWN 0.30 PTS (2.61)%

GLD: $183.37 DOWN 0.30 OR 0.16%

SLV/ $21.48 DOWN .27 OR 1.24%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

Good (Auction), Bad (LEIs), & Ugly (AI) Sustain ‘Goldilocks’ Gains In Stocks & Bonds

MONDAY, NOV 20, 2023 – 04:00 PM

Leading Economic Indicators continued their worst-since-Lehman path to recession but somehow ‘goldilocks’ economic narratives dominate of barely-any-landing-at-all & slowing inflation, and financial conditions continue to loosen, erasing more and more of “The Fed’s work” prompting the FCI-Doom-Loop to return…

Source: Bloomberg

Of course, the day was dominated by the utter shambles surrounding OpenAI and its ‘get woke, go broke’ board which sent MSFT shares to a new record high (as they scooped up Altman along with the option basically the entire brain of OpenAI)…

…and apparently whats good for MSFT AI is good for NVDA (despite chatter of Altman creating an AI chip rival)…

But, a strong 20Y auction at 1300ET prompted a huge buying program…

Source: Bloomberg

…which lifted stocks to the highs of the day (as yields tumbled) as Nov 9th’s 30 year auction chaos did not repeat.

Nasdaq outperformed, Small Caps underperformed but all the majors were green on the day. Some late-day selling pressure wiped a little lipstick off the squeezey pig…

One thing to note – last week saw massive fun inflows into QQQ – the last three times flows have been this high marked turning points in the Nasdaq…

Source: Bloomberg

Notably, ‘Most shorted’ stocks squeezed hard into the 20Y auction but faded after…

Source: Bloomberg

0-DTE traders bought calls non-stop with put delta basically flat…

Source: SpotGamma

VIX plunged to a low 13 handle – the lowest since Sept 15th…

Treasuries were mixed on the day with the short-end underperforming (2Y +3bps, 30Y -3bps)…

Source: Bloomberg

…which means the yield curve flattened further (2s30s most inverted since the start of October)…

Source: Bloomberg

The Dollar tumbled to its lowest since the end of August…

Source: Bloomberg

…extending its YTD losses and breaking below the key 200DMA technical support…

Source: Bloomberg

Bitcoin rallied after crypto-friendly Milei was elected in Argentina (and headlines around a possible Binance settlement were also supportive)…

Source: Bloomberg

Oil prices extended their bounce from Friday afternoon with WTI hitting a $78 handle before pulling back a little…

Gold ended lower, but futures bounced off $1970 intraday…

Finally, spot the odd one out…

Source: Bloomberg

Financial conditions are near the tightest they have been this cycle and Leading Economic Indicators have fallen at their fastest pace since Lehman… as the Nasdaq nears record highs.

EARLY MORNING TRADING//

TUCKER CARLSON

II USA DATA

Hard data telling us that the USA economy is now in big trouble

(zerohedge)

US Leading Indicators Tumble For 19th Straight Month, Worst Streak ‘Since Lehman’

MONDAY, NOV 20, 2023 – 10:12 AM

The Conference Board’s Leading Economic Indicators (LEI) continued its decline in October, dropping 0.8% MoM (worse than the 0.7% decline expected).

The biggest positive contributor to the leading index was building permits at +0.03
The biggest negative contributor was ISM N new orders and average consumer expectations both at -0.22

This is the 19th straight MoM decline in the LEI (and 18th month of 19) – the longest streak of declines since ‘Lehman’ (22 straight months of declines from June 2007 to April 2008)UnmuteAdvanced SettingsFullscreenPauseUp Next

“The US LEI trajectory remained negative, and its six- and twelve-month growth rates also held in negative territory in October,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.

“Among the leading indicators, deteriorating consumers’ expectations for business conditions, lower ISM® Index of New Orders, falling equities, and tighter credit conditions drove the index’s most recent decline.

After a pause in September, the LEI resumed signaling recession in the near term.

The Conference Board expects elevated inflation, high interest rates, and contracting consumer spending – due to depleting pandemic saving and mandatory student loan repayments – to tip the US economy into a very short recession.

We forecast that real GDP will expand by just 0.8 percent in 2024.”

Despite ‘soft landing’ hype, the LEI is showing no signs at all of ‘recovering’, tumbling back in line with the peak in March 2006…

And on a year-over-year basis, the LEI is down 7.6% (down YoY for 16 straight months) – close to its biggest YoY drop since 2008 (Lehman) outside of the COVID lockdown-enforced collapse…

The annual growth rate of the LEI continues to be negative, but may have reached a bottom…

The trajectory of the US LEI continues to signal a recession over the next 12 months

Is this the cleanest view of The Fed’s tightening impact on the US economy? Certainly doesn’t look like a ‘soft’ landing…

III) USA ECONOMIC STORIES

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

Victor Davis Hanson: When Has War Even Been “Proportional”?

FRIDAY, NOV 17, 2023 – 08:20 PM

Authored by Victor Davis Hanson via American Greatness,

Proportionality in war is a synonym for lethal stalemate, if not defeat.

When two sides go at it with roughly equal forces, weapons, and strategies, the result is often a horrific deadlock—like the four years of toxic trench warfare on the Western Front of World War I that resulted in 12 million fatalities.

The purpose of war is to defeat the enemy as quickly as possible with the least number of causalities—and thereby achieve political ends.

So, every side aims to find superior strategies, tactics, weapons, and manpower to ensure as great a disproportionate advantage as possible.

Hamas is no exception.

Its savage precivilizational strategy to defeat Israel hinged on doing disproportionate things Israel either cannot or will not do.

First, Hamas spent a year planning a preemptive butchery spree inside Israel. Its ruthless murdering focused on “soft targets” like unarmed elderly, women, children, and infants, mostly asleep at a time of peace and holiday.

Second, it sought to collectively shock Israel into paralysis by the sheer horror of decapitating civilians, burning babies, mass raping, and mutilating bodies.

Another apparent aim of such premodern barbarity was to blame Israel’s “occupation” for turning Gazans into veritable monsters, with hopes of derailing the renewed Abraham Accords.

Third, the gunmen took more than 240 hostages back with them to Gaza.

Again, that was a disproportionate tactic designed to meter out the release of captives in exchange for “pauses” and “cease-fires” to save Hamas.

Additionally, Hamas made implicit threats of gruesome executions of captives unless Israel ceased their retaliation for October 7.

Fourth, all the while Hamas shot rockets into Israel, more than 7,000 in total, and all aimed at civilians.

Not one launch was preceded by dropping leaflets or sending text messages to Israeli civilians to vacate the intended target areas—a protocol often used by the Israel Defense Forces.

The unapologetic aim was to kill thousands of Israelis at random and disproportionately.

In fact, in just the last few four weeks, Hamas has launched more than twice as many rockets into Israel as Nazi Germany managed to launch V-2s into Britain in five months.

Fifth, Hamas sought to create a multibillion-dollar tunnel city beneath Gaza. The labyrinth’s sole purposes were to stockpile weapons and ensure safe havens for terrorists to shoot rockets and regroup after their terrorist missions.

Sixth, the subterranean headquarters of Hamas elites, along with weapons depots, were strategically placed under hospitals, mosques, and schools to “shield” them from Israeli attacks.

The expectation was that the IDF would be hesitant to target such “civilian” and “humanitarian” areas in a way Hamas never would.

Seventh, Hamas forced the civilians of Gaza to remain among the street fighting. They often shot those who resisted.

They also killed Gazans who fled the city. Hamas sought to increase civilian fodder as collateral damage from Israeli attacks. Such deaths were to be broadcast worldwide to win sympathy for Hamas terrorists and force a cease-fire.

Eighth, Hamas bragged that it could repeat strategies 1-7 endlessly on the supposition Israel would tire, the world would turn against it, and it at last could murder enough Jews to end Israel altogether.

Israel in turn seeks its own disproportionate response to defeat Hamas.

First, it seeks to single out and kill the actual Hamas terrorists, and especially the 2,000 or so killers of October 7.

Second, it tries to warn civilians to flee anywhere that Hamas masses. Just as Hamas wants its own civilians killed for propaganda purposes, so Israel seeks to avoid killing them.

Third, by targeting Hamas and warning civilians to keep their distance, Israel does not deny that there will be collateral damage.

But it hopes to convince the world that any civilian deaths are mostly the fault of Hamas and not the IDF.

And to the degree that Gaza City is left in rubble, Israel wishes to remind its enemies that the wages of murdering Jewish infants unfortunately will be a disproportionate response, whose full effects will deter any future attack.

Fourth, Israel understands that a country of 9-10 million is facing a virulently hostile 500 million-person Arab Middle East. The United Nations is on the side of Hamas. A now anti-Semitic Europe has been hijacked by immigrants from the Middle East. Israel’s sole patron the United States is buffeted by a hard-left new Democratic Party that is not a reliable partner.

The result is that Israel still cannot conduct a fully disproportionate war without endangering its source of military resupply in the United States, and a wider conflict with the Islamic world.

And so, the war continues.

Hamas strives for a more disproportionate terrorist agenda to prolong the war. And Israel strives for a more disproportionate retaliation to end it.

The anger arises at Israel mostly because it is Jewish, and thus far its conventional disproportionality is proving more effective than the terrorist disproportionality of Hamas.

USA// COVID//VACCINE/

end

SWAMP STORIES

Comer: White House ‘Obstructing’ Biden Inquiries

SATURDAY, NOV 18, 2023 – 01:25 PM

Tensions are simmering in Washington as House Republicans intensify their probes into President Joe Biden’s alleged mishandling of classified documents and the family’s business dealings, sparking a fiery standoff with the White House.

The White House, meanwhile, has made clear to House Republicans that they won’t play ball – leading to accusations that the Biden White House is “obstructing” their investigative efforts.

Spearheaded by House Judiciary Committee Chairman Rep. Jim Jordan (R-OH) and House Oversight Committee Chairman Rep. James Comer (R-KY), the Republicans are aggressively pursuing over 20 subpoenas issued to Biden staffers and family members.

“We just received a letter from the Special Counsel to the president making it clear the White House intends to continue obstructing our investigation,” reads a post on X from House Oversight Committee Chairman Rep. James Comer (R-KY)

“We also need to know if these classified materials aided the Bidens’ global influence-peddling enterprise that brought in tens of millions for the Bidens and their associates,” Comer said on Friday. “This obstruction does not deter us, and we will continue to follow the facts and hold President Biden accountable to the American people.”

In a scathing four-page letter pushing back against the inquiry, a senior White House attorney, Richard Sauber, hit back, accusing the GOP of twisting facts and pushing a narrative loaded with “distortions and falsehoods.” Sauber’s letter lambasts the Republicans’ efforts as “congressional harassment” and a mere play to “score political points.”

Adding to the complexity, the White House accuses the Republicans of withholding critical information and shifting goalposts when their allegations are countered or debunked. This claim points to a deeper narrative battle, where each side accuses the other of misinformation and evasion.

Meanwhile, Hunter Biden’s representatives have dismissed the subpoenas as a political charade but have signaled a willingness for a public address at an appropriate time. Similarly, James Biden’s attorney has highlighted the committee’s review of private bank records, suggesting that the necessary transparency is already in play.

Remember when Democrats just up and impeached Trump twice with way less evidence?

END

Cheney, Kinzinger, And “Sham” J6 Committee Under Fire After Friday Footage Dump; GOP Senator Calls For Investigation

SUNDAY, NOV 19, 2023 – 08:45 AM

Ever since Friday’s release of more than 40,000 hours of Jan. 6 Capitol Police security video, dozens of clips debunking the Jan. 6 committee’s ‘violent insurrection’ narrative have been floating around X.

Mike Lee raises questions

In response to the exculpatory footage that the Jan. 6 committee never showed the American public, Senator Mike Lee (R-UT) has raised significant questions about the handling of security footage.

Lee’s statements directly challenge the integrity of the now-disbanded committee, particularly addressing the roles of its former Republican members, Liz Cheney and Adam Kinzinger. He also accuses the committee – particularly those two, of selectively sharing information.

After Cheney attempted to hit back with her ‘best hits’ Jan. 6 footage, Lee replied: “Liz, we’ve seen footage like that a million times. You made sure we saw that—and nothing else.”

Lee also called for an investigation into the committee itself, labeling it a “sham” and questioning the use of taxpayer dollars in its operations. He insinuates that crucial information about the committee’s work could have been “deliberately lost or destroyed,” casting doubts on the committee’s transparency and objectivity.

The argument continued throughout the day, with Lee linking to a NY Post article with the headline “FBI lost count of how many paid informants were at Capitol on Jan. 6, and later performed audit to figure out exact number.”

Kinzinger swings and misses all day

In response to the backlash, Kinzinger made a stupid joke comparing Jan. 6 protesters to US army helicopters providing fire for South Vietnamese ground troops attacking the Vietcong in 1965.

Twice.

He also retweeted about a dozen similarly stupid jokes (check out his timeline).

The House Select Committee on the January 6 Attack was disbanded in January 2023, after releasing its final report in December 2022. The committee, comprising seven Democrats and two Republicans, faced criticism for its composition and the perceived partisanship in its approach.

Kinzinger did not seek reelection, and Cheney lost her primary, marking a significant shift in the Republican landscape. The release of the security tapes by Johnson is seen as a step towards transparency, allowing the public to form their own opinions about the events of January 6, away from the committee’s narrative.

END

New J6 Footage Shows Capitol Police May Have Incited Riot By Firing Munitions Into Peaceful Crowd

SATURDAY, NOV 18, 2023 – 11:20 PM

House Speaker Mike Johnson has released over 40,000 hours of J6 footage including capitol police body cam footage to the public in the interests of transparency, an action which should have been taken years ago. Each new piece of footage only confirms what many Americans already understood – That the few scant minutes of available video recycled by the media paint a false picture of what really happened. Many would argue that J6 was nothing more than a protest that was turned into a riot by police incitement and establishment spin.

Even worse, there are many people now languishing in prison because of that spin.

The latest footage shows capitol police inviting protesters into the building as they peacefully assembled in the corridors (the same people who would later be prosecuted and labeled “insurrectionists”).

However, what about what happened before the “riots” started?

Did they happen spontaneously, or were they incited?

New video clips seem to show capitol police firing rubber bullets, tear gas grenades and stun grenades into crowds of peaceful protesters on J6 before anyone tried to enter the capitol building, possibly triggering the violence that would follow (and creating the footage that was played ad nauseum on major news networks as proof of insurrection).

Keep in mind that if such tactics had been used to incite BLM or pro-Palestinian riots there would undoubtedly be 24/7 news coverage of it.

These revelations further confirm why J6 footage was withheld from the country for so long.

It’s easy to control the narrative when you have all the evidence under lock and key.

THE KING REPORT

GREG HUNTER INTERVIEWING JOHN RUBINO

U.S. Financial Death Spiral – John Rubino

U.S. Financial Death Spiral – John Rubino

By Greg Hunter On November 18, 2023 In Market Analysis32 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Analyst and financial writer John Rubino has a new warning about being fooled into thinking the economy is improving because inflation and interest rates have fallen some recently. Rubino says, “If the U.S. government is running crisis level deficits, which it is right now, borrowing money and paying interest on it means we are in a financial death spiral. The debt goes up, the interest on the debt goes up and that raises the debt even further, and you just spiral out of control. We are there right now. The official U.S. debt is $33.5 trillion. It’s growing by $1.7 trillion a year, and $1 trillion of that is interest costs. Interest costs are rising as the overall debt goes up. Then throw in this incredibly reckless military spending in the guise of foreign aid, and you get a society that has completely lost control. That’s where we are now. We are in the blowoff stage of a 70-year credit super-cycle. Those things do not end with a whimper, and they certainly do not end with a soft landing. They end with a bang, and the bang is going to be centered on the currency. People are going to look at this and say, ‘Do I really want to hold the currency or bonds of a country that is destroying its finances at this trajectory and this scale?’ The answer will be ‘No.’ At that point, it is game over for a deeply indebted economy. We are headed that way fast, and these wars are taking us that way even faster.”

If the Fed keeps raising interest rates, the economy tanks, but you protect the dollar. If you cut interest rates, you spike inflation even more, and the U.S. dollar tanks. Rubino says in the end, we get a “massive reset,” and the everything bubble explodes.

Rubino says the dollar is going to decline and, at some point, it starts to go into freefall in terms of buying power. Rubino explains, “If a currency starts to decline in a disorderly way, then you have a massive financial crisis on your hands. That is definitely where Japan is right now. The U.S. is headed that way fast. So, once we reach that point, there is no fix. Then it is only a matter of time that everybody realizes that there is no fix, and they just bail on the whole experiment, and that’s where we are headed.”

Rubino talks about plunging home prices, more trouble coming in the commercial real estate market and why you need gold and silver as core assets during a currency reset.

There is much more in the 40-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 11.18.23.

(https://usawatchdog.com/u-s-financial-death-spiral-john-rubino/)

After the Interview:

John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com. There is even more cutting-edge original information and analysis if you subscribe.

SEE YOU WEDNESDAY