DEC 4//FED ORCHESTRATED RAID ON OUR PRECIOUS METALS AS THE FED NEEDS PHYSICAL TO BUY BACK THEIR SHORTFALL TO THE BIS: GOLD CLOSED DOWN $43.15 AND A HUGE$119.00 FROM LAST NIGHT TO COMEX CLOSING//SILVER CLOSED DOWN 90 CENTS TO $24.51//PLATINUM CLOSED DOWN $14.45 TO $921.55 WHILE PALLADIUM CLOSED DOWN ANOTHER $40.15 TO $976.50//GOLD COMMENTARIES TONIGHT FROM PETER SCHIFF AND MATHEW PIEPENBURG..CHINA STILL IN A MESS WITH THEIR PROPERTY IMPLOSION//ANOTHER STABBING BY A ISLAMIST IN PARIS//ISRAEL VS HAMAS COMPLETE WEEKEND ROUNDUP//ISRAEL BEGINS GROUND INVASION OF THE SOUTH//SEEMS A MAJOR SENIOR HAMAS OFFICIAL HIT AS AMBULANCES HEAD TO KHAN YOUNIS HOSPITAL//COVID UPDATES//VACCINE INJURY UPDATES//DR PAUL ALEXANDER//SLAY NEWS ETC//VENEZUELA THREATENS GUYANA AS BIDEN, THE SILENT, REMAINS SILENT..USA FACTORY ORDERS PLUMMET//SWAMP STORIES FOR YOU TONIGHT///
LAST NIGHT GOLD HIT $2143.00 WHEN THE FED INITIATED A RAID SO THAT IT CAN LOWER THE PRICE OF GOLD IT NEEDS TO REPAY THE BIS ON IT’S SWAMP DEAL//JAN 2.2023. THE DIFFERENCE BETWEEN THE TOP PRICE OF 2143 DOLLAR GOLD TO $2024 GOLD IS A MONSTROUS $119.00
118 C MACQUARIE FUT 9 132 C SG AMERICAS 114 167 C MAREX 8 190 H BMO CAPITAL 19 363 H WELLS FARGO SEC 9 624 H BOFA SECURITIES 25 657 C MORGAN STANLEY 4 661 C JP MORGAN 102 139 690 C ABN AMRO 4 700 C UBS 7 732 C RBC CAP MARKETS 12 737 C ADVANTAGE 9 5
TOTAL: 233 233 MONTH TO DATE: 11,453
JPMorgan stopped 130/233 contracts.
FOR DEC.:
GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT: 233 NOTICES FOR 23300 OZ or 0.7247 TONNES
total notices so far: 11,453 contracts for 1,145,300 oz (35.623 tonnes)
FOR DEC:
SILVER NOTICES 401 NOTICE(S) FILED FOR 2,005,000 OZ/
total number of notices filed so far this month : 2069 for 10,345,000 oz
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END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES
GLD
WITH GOLD DOWN $43.15//
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.31 TONNES OF GOLD FROM THE GLD
SOMEBODY RAIDED THE COOKIE JAR!
INVENTORY RESTS AT 878.82 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 90 CENTS AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A 0.733 MILLION OZ WITHDRAWAL.
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 433.395 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A MEGA GIGANTIC SIZED 2719 CONTRACTS TO 145,566 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR SMALL $0.15 GAIN IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD A MAJOR SPEC SHORT COVERING EPISODE IN FRIDAY’S COMEX TRADING BUT AT HIGHER PRICES. WE HAD A GIGANTIC 982 T.A.S ISSUANCE AND 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: 982 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.15), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A MEGA- HUMONGOUS SIZED GAIN OF 3624 OI CONTRACTS ON OUR TWO EXCHANGES
WE MUST HAVE HAD:
A HUGE SIZED 905 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 18.755 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S STRONG 680,000 OZ E.F.P. JUMP TO LONDON//NEW TOTAL STANDING 18.430 MILLION OZ.
//NEW STANDING FOR SILVER IS THUS 18.430 MILLION OZ
//HUGE SIZED COMEX OI GAIN/ HUGE SIZED EFP ISSUANCE/VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 982 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 726 CONTRACTS (the cme will no longer provide preliminary no to be except through a paywall)
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS DEC. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF DEC:
TOTAL CONTRACTS for 2 days, total 1355 contracts: OR 6.775 MILLION OZ (677 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 6.775 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. 50.050 MILLION OZ
DEC. 6.755 MILLION OZ
RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2719CONTRACTS DESPITE OUR SMALL GAIN IN PRICE OF $0.15 IN SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 905 ISSUED FOR FEB AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS. WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR DEC. OF 18.755 MILLION OZ FOLLOWED BY TODAY’S 680,000 OZ E.F.P. JUMP TO LONDON//NEW TOTAL STANDING 18.430 MILLION OZ//
NEW STANDING 18.430 OZ /// WE HAVE A MEGA HUMONGOUS SIZED GAIN OF 3624OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: AN OUT OF THIS WORLD SIZED 982CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION. THE NEW TAS ISSUANCE FRIDAY NIGHT (982) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .
WE HAD 401 NOTICE(S) FILED TODAY FOR 2,005,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A VERY STRONG SIZED 11,073 CONTRACTS TO 509,758 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 639 CONTRACTS
WE HAD A VERY STRONG SIZED INCREASE IN COMEX OI ( 11,073 CONTRACTS) WITH OUR $32.05 GAIN IN PRICE//FRIDAY. WE ALSO HAD A RATHER LIGHT INITIAL STANDING IN GOLD TONNAGE FOR DEC.. AT 44.914 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 5200 OZ E.F.P. JUMP TO LONDON/ // TOTAL GOLD STANDING FOR DEC SO FAR LOWERS TO 42.205 TONNES // ALL OF..THIS HAPPENED WITH OUR $32.05 GAIN IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUGE SIZED GAIN OF 18,356OI CONTRACTS (57.09)PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 7283CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 509,758
IN ESSENCE WE HAVE A GIGANTIC SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 18,356 CONTRACTS WITH 11,073 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 7283EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 18,356 CONTRACTS OR 57.09 TONNES. WE HAD 0 CONTRACT EXCHANGE FOR RISK FOR 0 TONNES. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A HUGE 3109 CONTRACTS.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7283 CONTRACTS) ACCOMPANYING THE VERY STRONG SIZED GAIN IN COMEX OI (11,073) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 18,356 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 DEC. AT 44.914 TONNES FOLLOWED BY TODAY’S 5,800 OZ E.F.P TO LONDON//NEW STANDING 42.205 TONNES / / 3) ZERO LONG LIQUIDATION AND HUGE TAS LIQUIDATION BUT MASSIVE SHORT LIQUIDATION AT HIGHER PRICES 4) STRONG SIZED COMEX OPEN INTEREST GAIN/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: HUGE T.A.S. ISSUANCE: 3109 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY
DEC
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC. :
TOTAL EFP CONTRACTS ISSUED: 11,276 CONTRACTS OR 1,127,600 OZ OR 35.073 TONNES IN 2 TRADING DAY(S) AND THUS AVERAGING: 5638 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 2 TRADING DAY(S) IN TONNES 35.073 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 35.073/3550 x 100% TONNES 0.98% OF GLOBAL ANNUAL PRODUCTION
SEPT 142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_
OCT: 141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)
NOV: 312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP
DEC. 175.62 TONNES//FINAL ISSUANCE//
TOTALS: 2,578.08 TONNES/2021
JAN:2022 247.25 TONNES //FINAL
FEB: 196.04 TONNES//FINAL
MARCH/2022: 409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.
APRIL: 169.55 TONNES (FINAL VERY LOW ISSUANCE MONTH)
MAY: 247.44 TONNES FINAL//
JUNE: 238.13 TONNES FINAL
JULY: 378.43 TONNES FINAL
AUGUST: 180.81 TONNES FINAL
SEPT. 193.16 TONNES FINAL
OCT: 177.57 TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)
NOV. 223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)
DEC: 185.59 tonnes // FINAL
TOTAL: 2,847,25 TONNES/2022
JAN 2023: 228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!
FEB: 151.61 TONNES/FINAL
MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)
APRIL: 197.42 TONNES
MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)
JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)
JULY: 151.69 TONNES (WEAKER THAN LAST MONTH)
AUGUST: 195.28 TONNES (A STRONGER MONTH)//FINAL
SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)
OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.
NOV. 239.16 TONNES//WILL BE STRONG THIS MONTH,
DEC. 35.073 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 NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF DEC., FOR BOTH GOLD:
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (SEPT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.Today, we had the open interest at the comex, in SILVER ROSE BY A MEGA GIGANTIC SIZED 2719CONTRACTS OI TO 145,526 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 905 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
DEC 905 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 905 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 2719 CONTRACTS AND ADD TO THE 905 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN AN OUT OF THIS WORLD SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3624 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 18.120 MILLION OZ (2.75% OF ANNUAL WORLD SILVER PRODUCTION/GO FIGURE)
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 DOWN 8.72 PTS OR 0.29% //Hang Seng CLOSED DOWN 184.25 PTS OR 1.09% /The Nikkei CLOSED DOWN 200.24 PTS OR 0.60% //Australia’s all ordinaries CLOSED UP 0.70 % /Chinese yuan (ONSHORE) closed UP AT 7.1374 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1444 /Oil DOWN TO 73.70 dollars per barrel for WTI and BRENT DOWN AT 78.37/ Stocks in Europe OPENED MOSTLY MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A VERY STRONG SIZED 11,073 CONTRACTS TO 509,758 WITH OUR GAIN IN PRICE OF $32.05 WITH RESPECT TO FRIDAY TRADING. WE MUST HAVE CONSIDERABLE SPEC SHORT COVERINGS BUT AT MUCH HIGHER PRICES.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF DEC..… THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 7283 EFP CONTRACTS WERE ISSUED: : FEB 7283 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 7283CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUGE SIZED TOTAL OF 18,356 CONTRACTS IN THAT 7283 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A VERY STRONG SIZED GAIN OF 11,073 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $32.05//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 THURSDAY NIGHT WAS A STRONG SIZED 3109 CONTRACTS. THROUGHOUT THE PAST SEVERAL 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)//. THE HUGE LOSS IN COMEX OI TONIGHT WAS DUE TO FINALIZATION OF SPREADER AND ALSO T.A.S. LIQUIDATION!
// WE HAVE A LIGHT AMOUNT OF GOLD TONNAGE STANDING: DEC (42.205 TONNES ( ACTIVE MONTH)
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 12 MONTHS OF 2021-2022:
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY: 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022:
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
2023:
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $32.05) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUGE SIZED GAIN OF18,356 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING ALONG WITH SPREADER LIQUIDATION. 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 57.09 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR DEC. (44.914 TONNES) ON FIRST DAY NOTICE, FOLLOWED BY TODAY’S 52 CONTRACT E.F.P TO LONDON FOR 5,200 OZ//NEW TOTAL STANDING FALLS TO 42.205 TONNES../ ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $32.05
WE HAD REMOVED –726 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET GAIN ON THE TWO EXCHANGES 18,356 CONTRACTS OR 1,835,600 OZ OR 57.09 TONNES.
Estimated gold volume today:// 384,098 very strong
Total monthly oz gold served (contracts) so far this month
11,453 notices 1,145300 oz 35.623 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: nil oz
customer deposits: 0
total customer deposits: nil oz
we had 0 customer withdrawals
total withdrawals 0 oz
Adjustments; 1
JPMorgan/customer to dealer: 48,226.500 oz (1500 kilobars)
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.
For the front month of DECEMBER we have an oi of 2399 contracts having LOST 1426 contracts. .We had 1374
contracts served upon Friday, so we lost 52 or an additional 5200 oz (0.1617 tonnes) as for the 2nd straight session, they were
immediately E.F.P’d to London where they could take delivery on a T + 2 basis instead of waiting for metal over here. They needed immediate delivery!
JAN. gained 185 contracts RISING TO 3546 contracts.
FEB GAINED A WHOPPING 9709 CONTRACTS RISING TO 421,149.
We had 233 contracts filed for today representing 23300 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 152 notices were issued from their client or customer account. The total of all issuance by all participants equate to 233 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 130 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 DEC. /2023. contract month, we take the total number of notices filed so far for the month (11,453 x 100 oz ), to which we add the difference between the open interest for the front month of DEC. (2399 CONTRACTS) minus the number of notices served upon today 233 x 100 oz per contract equals 1,356,900 OZ OR 42.205 TONNES
thus the INITIAL standings for gold for the DEC.contract month: No of notices filed so far (11,453) x 100 oz + (2399) {OI for the front month} minus the number of notices served upon today (233) x 100 oz) which equals 1,356,900 oz standing OR 42.205 TONNES
TOTAL COMEX GOLD STANDING FOR DEC: 42.205 TONNES WHICH IS LIGHT FOR THE BIGGEST ACTIVE DELIVERY MONTH IN THE CALENDAR. THEY PROBABLY KNOW THAT NO REAL GOLD IS PRESENT AT THE COMEX.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 19,997,493.603 OZ
TOTAL REGISTERED GOLD 10,211,359.967 (317,16 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,786,133.636 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 8,652,010 oz (REG GOLD- PLEDGED GOLD) 269.11
END
SILVER/COMEX
DEC 4
//2023// THE DEC 2023 SILVER CONTRACT
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
332,214.343 oz
Brinks Delaware CNT
.
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
29,796.850oz CNT
No of oz served today (contracts)
401 CONTRACT(S) (2,005,000,000 OZ)
No of oz to be served (notices)
1617 contracts (8,085,000 oz)
Total monthly oz silver served (contracts)
2069 Contracts (10,345,000 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) 1 dealer deposit
i)Into ASAHI 603,134.04 oz
total dealer deposit: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 deposits customer account:
i) Into CNT: 29,796.850 oz
total customer deposit 29,796.850 oz
JPMorgan has a total silver weight: 134.441 million oz/267,777 million or 50.05%
Comex withdrawals 3
we had 3 customer withdrawals
i) Out of Brinks 316,213.200 oz
ii) Out of Delaware: 920.500 oz
iii) OUt of CNT 15,080.643 oz
total withdrawals 332,218.343 oz
adjustments: 1
CNT dealer to customer: 937k384.820 oz
TOTAL REGISTERED SILVER: 43.825 MILLION OZ//.TOTAL REG + ELIGIBLE. 266.777 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF DEC /2023 OI: 2018 CONTRACTS HAVING LOST 295 CONTRACT(S).
WE HAD 159 CONTRACTS SERVED ON FRIDAY, SO WE LOST 136 CONTRACTS OR 680,000 OZ WERE
E.F.P. JUMPED TO LONDON IN ORDER TO RECEIVE IMMEDIATE SILVER OVER THERE.
JAN LOST 28 CONTRACTS UP TO 1826 CONTRACTS
FEB ANOTHER 11 CONTRACTS TO STAND AT 25
MARCH GAINED 2840 CONTRACTS TO 126,340 .
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 401 for 2,005,000 oz
Comex volumes// est. volume today 134,441,// huge
Comex volume: confirmed yesterday 73,934 good
To calculate the number of silver ounces that will stand for delivery in DEC. we take the total number of notices filed for the month so far at 2069 x 5,000 oz = 10,345,000 oz
to which we add the difference between the open interest for the front month of DEC. (2018) and the number of notices served upon today 401 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the DEC/2023 contract month: 2069 (notices served so far) x 5000 oz + OI for the front month of DEC. (2018) – number of notices served upon today (401 )x 500 oz of silver standing for the DEC contract month equates to 18.430 MILLION OZ
There are 43.825 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!
DEC 4/WITH GOLD DOWN $43.15 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.31 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 878.82 TONNES
DEC 1/WITH GOLD UP $32.05 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 876.51 TONNES
NOV 30/WITH GOLD DOWN $8.70 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 878.53 TONNES
NOV 29/WITH GOLD UP $7.20 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.73 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 880.55 TONNES
NOV 28/WITH GOLD UP $26.45 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: // / / // // INVENTORY RESTS AT 882.28 TONNE
NOV 27/WITH GOLD UP $9,85 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD: // / / // // INVENTORY RESTS AT 882.28 TONNES
NOV 24/WITH GOLD UP $11.20 TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD// / / // // INVENTORY RESTS AT 882.28 TONNES
NOV 22/WITH GOLD DOWN $8.45 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD / / // // INVENTORY RESTS AT 883.43 TONNES
NOV 21/WITH GOLD UP $21.65 TODAY:NO CHANGES IN GOLD INVENTORY AT THE GLD / / // // INVENTORY RESTS AT 883.43 TONNES
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
GLD INVENTORY: 878.82 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
DEC 4/WITH SILVER DOWN 90 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 0.7333 MILLION OZ FROM THE SLV// //://// //INVENTORY RESTS AT 433.395 MILLION OZ
DEC 1/WITH SILVER UP 15 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.923 MILLION OZ FROM THE SLV// //://// //INVENTORY RESTS AT 434.128 MILLION OZ
NOV 30/WITH SILVER UP 20 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/ //://// //INVENTORY RESTS AT 436.051 MILLION OZ
NOV 29/WITH SILVER UP 15 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV” A MASSIVE WITHDRAWAL OF 4.122 MILLION OZ FROM THE SLV// //://// //INVENTORY RESTS AT 436.051 MILLION OZ
NOV 28/WITH SILVER UP 64 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV //://// //INVENTORY RESTS AT 440.173 MILLION OZ
NOV 27/WITH SILVER UP 32 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV //:////A WITHDRAWAL OF 1,008,000 OZ FROM THE SLV. //INVENTORY RESTS AT 440.173 MILLION OZ
NOV 24/WITH SILVER UP 70 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV //:////A WITHDRAWAL OF 549,000 OZ FROM THE SLV. //INVENTORY RESTS AT 441.181 MILLION OZ
NOV 22/WITH SILVER DOWN 21 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV //://// //INVENTORY RESTS AT 441.730 MILLION OZ
NOV 21/WITH SILVER UP 32 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 2.794 OZ FROM THE SLV//://// //INVENTORY RESTS AT 441.730 MILLION OZ
NOV 20/WITH SILVER DOWN 26 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
CLOSING INVENTORY 433.395 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
Peter Schiff: Gold Price Breaks Record With More To Come
Gold set a new record on Friday and broke it again over the weekend. The spot price went as high as $2,125 in overseas trading Sunday night. In his podcast, Peter Schiff explained why he thinks this bull run is just getting started and gold will go much higher.
In fact, Peter said he thought these records would be broken “many many times over.”
Gold also closed the month of November at over $2,000 an ounce. It was the first time that gold finished any month above $2k.
I think silver is a particularly good buy right here because gold is at a record high and silver would have to double to hit its record high. That tells me that silver is very cheap.”
Gold stocks also rallied, but not to the same extent as the metal. Normally in a bull market, you would see an even bigger rally in mining stocks. But Peter said this is not a typical bull market.
Clearly, it is a bull market, by definition. Gold is at an all-time record high. So, it can’t not be in a bull market when you’re at an all-time record high. Yet gold stocks are not even anywhere close to their all-time record highs. In fact, gold stocks would have to go up another 12% just to hit a 52-week high let alone a record high.”
Peter said this market has been climbing a proverbial “wall of worry.”
It’s like the Rodney Dangerfield bull market. It gets no respect.”
Stock investors still expect gold to fall and they are factoring that into the price of gold stocks.
Nobody has confidence that the price of gold is going to rise. That’s what’s so atypical about this rally because normally gold stocks lead the metal.”
Peter said all of the bearishness reinforces his bullishness.
The question is when will investors realize that gold prices are going much higher? When will the bears throw in the towels and start buying gold and gold mining stocks?
Peter pointed out that $2,000 gold is still way underpriced when adjusted for inflation.
I don’t even know where the price of gold would have to be to hit a high adjusted for the CPI. Probably at least $3,000. … But we are going to get there. But the fact that we’re still so far below that inflation-adjusted high lets you know how cheap gold remains, despite the fact that it’s above $2,000.”
Peter pointed out that the big hedge funds, pension funds, and endowments aren’t invested in gold.
They’re not in this market at all. At some point, they’re going to wake up to this reality.”
Peter said he thinks it will be an “economic awakening.”
I think we’re going to see the economy become much weaker in a way that is easy to discern — when you’re going to see a big pickup in unemployment and a big deceleration in the GDP.”
When people want to look at the economy and look at the GDP and say, ‘Oh, we had this GDP growth!’ Yeah, but we also had commensurate growth in the national debt. And so now, we have a much bigger debt as a result of this phony economic growth. Because it’s not real economic growth. We just spent borrowed money, and what grew is our debt.”
At some point, we will have to pay the piper for this fake economic growth.
It’s going to be paid with inflation. And that’s how you know the price of gold is going much, much higher the $2,000.”
A lot of people think the Fed has won the inflation fight. The markets are now pricing in a significant chance that the Fed will start cutting interest rates in March. But CPI isn’t anywhere near the 2% target. We’re looking at a more inflationary environment even while there is still significant inflation in the system.
Peter said he thinks gold is going to have an explosive move up before gold starts trading on a more steady but slower upward trajectory.
I think we have to move up quite a bit to shock investors into getting involved in this market. And they will, but at much higher prices, I think.”
Peter said we also need to keep an eye on the dollar. A weakening greenback has helped drive this gold bull rally. Peter said he thinks the drop in the dollar is just getting started.
The dollar is getting ready to go through the floor and that means gold is getting ready to go through the roof.”
In this podcast, Peter also talked about comments Jerome Powell made late last week.
end
2,c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens, John Rubino
Hope Dies, Gold Rises
Matthew Piepenburg December 3, 2023
The primary stages of grief include: Denial, anger, bargaining, depression and finally, acceptance.
When it comes to grieving over the slow demise of the American economy, sovereign IOU/USD and the absolute failure of our “re-election-only-focused” policy makers, these stages of grief are easy to see yet easier to ignore.
But false hope won’t help us.
Denying a Recession
With the vast majority of sectors that make up the U.S. economy evidencing three months of negative GDP growth while a laundry list of leading homebuilder indicators (housing starts and prospective buyers) drops into recessionary red, I keep wondering when the recession debate will finally end.
Walmart is worrying, Jamie Dimon is worrying, commercial real estate delinquencies are rising and IPO markets are all but dead on arrival.
But that’s just the latest hard data.
One can cite everything from the Conference Board of Leading Indicators, negative M2 growth, yield curve movements and a drying repo market to make it empirically clear that the US is not heading for recession but has already been in one for nearly a year.
In fact, if we were to define a Depression by growth rates of inflation-adjusted GDP per capita, then factually speaking, we have also been in a quantifiable depression for the last 16 years.
Such data, of course, is depressing, but are we all still hoping for kinder facts or a political and monetary Santa Claus to cure our denial?
I for one favor preparation over denial.
Then Comes the Anger
Citizens storming the Capital, or grabbing guitars and singing “I’m taxed to no end and my dollar aint $#!T” are just the first signs of the anger stage.
Even if the average (and indeed heroic) member of a grotesquely ravaged middle class can’t fully articulate every nasty detail of Wall Street lingo behind a Rigged to Fail market economy, they are catching on to a system which has turned capitalism into feudalism–making them veritable serfs while C-Suite hucksters, from Sam Bankman Fried to Adam Neumann fashion themselves as lords of the manor.
(Now Barron Larry Summers has joined the Marquis de Sam Altman at OpenAI, the perfect combo of perfect [insider] little devils.)
The backbone of America may not fully know the statistics which confirm that 90% of the wealth created by a Fed-driven market bubble circa 2009 was enjoyed by only the top 10%, but they certainly can “feel” it.
Meanwhile, the politicos and central bankers will keep inventing platitudes to mask honest math as market pundits debate soft and hard landings while US voters prepare for an election between a dark-state sleep-walker and an arrested-state swamp-cleaner as soldiers and money are ear-marked toward no-win wars.
Next, the Bargaining and the Depression
Despite obvious evidence of an angry, post-lockdown/mandate society and economy in open decline, some folks still want to believe (bargain) in the iconic America and intuitively turn toward the public “experts” for a miracle solution.
This, again, IS depressing. And according to the current Zeitgeist (and clinical depression/anxiety data from big pharma), depressed is exactly where America sits today.
Finally: Stone Cold Acceptance
Now that we pass from denial, anger, bargaining and depression, it’s time to accept the recession which our leaders refuse to acknowledge.
Acceptance, at the very least, allows us to think and then act even in the worst of settings.
So then: What can we ACCEPT, EXPECT, and hence DO while our policy makers fight for votes like donkeys scurrying for hay?
Deflation, Inflation and a Neutered Dollar Ahead
The short answer is this: Brace yourselves for a deflation to inflation roller coaster followed by bond volatility and a currency-killing wave of fake money.
Why?
Because math and history still matter.
Whether admitted or hidden, recessions tend to clip the wings of tax receipts. But what does that have to do with markets, currencies and, well… each of us?
In a recession, we can reasonably assume a potential tax receipt decline of 10% in 2024. This will come at the same time that Entitlement spending is rising by 10%.
That’s a double-whammy.
And if one were to then include (as Luke Gromen has done) an average 4% interest rate for 2024, then all of these recessionary percentage numbers add up to a stark piece of easy math but hard days ahead.
That is, we are looking down the barrel of a probable (rather than sensational) True Interest Expense on Uncle Sam’s public debt equal to 120% of US tax receipts.
Think about that.
This percentage is higher than what we saw during the COVID crash of 2020, which was followed by unthinkable trillions of fake money from our equally fake, but all too human, Federal Reserve.
Having thus done the math, Gromen foresees “Super QE” ahead, and I agree.
Relative Strength Is Still No Strength: Brace for Inflationary End-Game
For me at least, this means all the debating about the USD’s relative strength, is still missing the point of its ever-debasing (and hence declining) inherent strength in the face of an impending deluge of “easy money” to keep Uncle Sam on his clay feet.
In other words, get ready for lots and lots of inflationary and currency-debasing fake money in the months ahead once a deflationary recession and potential market massacre are followed by an inflationary fire hose of “accommodative” liquidity (and rate cuts).
No Good Options Left
If not, Uncle Sam’s only other option is to remain higher-for longer, whereby the USD spikes on the tailwind of higher rates as the rest of the world, beaten down by an expensive USD, falls flat on its face ala Japan.
This recession-based prognosis on the longer-term direction of the Fed, rates and the USD is no surprise to the bond jocks either.
Accepting Bond Market Reality
Having argued that history and math matter, let me repeat that bonds matter even more.
What are they telling us?
In recent weeks, investors have been dumping dollars and leaping into longer-duration bonds in anticipation of a recessionary “safe-haven.” This explains recent falls in UST yields.
In fact, investors are overweight bonds at levels not seen since 2009.
For retail investors, this flow toward bonds is based on the belief that inflation and yields will drop in 2024 thanks to Powell’s brilliant war on inflation having been won.
Eh-Hmmm.
But portfolio managers are jumping into bonds because they see a recession ahead and are positioning themselves to be early buyers of a rising (i.e., Fed-rescued) bond price.
Smart Money & Dumb Money: Both Wrong
What’s ironic, however, is that both the so-called “smart” and the “dumb” money may be wrong for totally different reasons, as they are each missing the longer-term forces at play—namely an over-supply flood of more USTs ahead.
This means falling bonds and rising yields—longer term.
Why do I take this view? Well, because recessions are not only easy to see, but easy to pattern.
Missing the Importance of UST Over-Supply
Recessions, for example, typically mean growing deficits, and growing deficits mean more USTs spitting out of Uncle Sam’s IOU box.
This looming rise in UST supply eventually means more downward rather than upward pressure on UST pricing longer term.
Thus, even if the USD spikes near term into 2024, foreigners pegged to that expensive Dollar will dump even more of their $7.6T worth of USTs to “milk-shake-suck” more needed USDs, adding even further downward pressure on UST pricing.
By natural math, and simple history, this decline in UST pricing due to massive UST over-supply will spur even higher yields, which in turn means higher rates, which in turn means Uncle Sam won’t be able to afford/pay his higher-rate IOUs without a lot of help from the inflationary money printers at the Eccles Building.
Short of a default or Bretton Woods 2.0, such mouse-clicked money is all Uncle Sam will have left to pay for his own and ever-increasing debt.
And you know where my bet (and history’s lesson) lies.
In the interim, be ready for a bumpy ride and more debating pundits splitting hairs on the Dollar, the UST, interest rates, M2 data, CPI correlations and FOMC tea leaves.
Toward this end, yes, the USD can rise, as can UST demand and price. And yes, deflation can, and will come as well—prior to much higher inflation.
This is because the longer play is as easy to see as the destiny of any debt-soaked nation: More and more IOUs paid for with a weaker and weaker currency.
Or stated more contemporaneously, get ready for rising and then falling USTs and falling and then rising yields “saved” by more fake Dollars to “accommodate” an already and inevitably over-supplied UST from an objectively broke America.
Milk-Shake Straws & Sponges Won’t Save the Dollar
To those who follow the milk-shake theory, there is the defensible view that enough national and global demand for USDs will act as a powerful sponge to soak up all the printed Dollars to come, keeping the DXY value of the USD forever (and relatively) safe, strong and victorious.
Hmmm…
But I lean on the view that even a super sponge (or global “straw”) of such magnitude will be unable to absorb the fire hose of milk-shake liquidity about to come pouring through it in the years ahead to “keep America on a respirator again.”
More importantly, and as alluded above, even if the USD’s relative strength survives on the power of that magical sponge (or straw) of eternal Dollar demand, when measured in real terms—i.e., in terms of constant purchasing power –that Dollar’s inherent purchasing power will get weaker and weaker as inevitable synthetic/fake liquidity rises higher and higher.
And this is why anyone who measures their wealth in this paper currency is …well: Screwed.
Your Dollar simply buys less and less, and though it may be relatively stronger than other fiat currencies, is it really any consolation to be betting on the best patient in the ICU, when all the patients are in fact fatally ill?
What very few pundits and even fewer investors wish to fully accept is that once debt levels for a nation go from absurd to flat-out inconceivable (i.e., a debt/GDP ratio of 120%+), the only real option ahead is to inflate away that debt with debased money.
As I’ve argued, he NEEDS inflation, but has the added luxury of being able to openly lie about the current CPI scale, which grossly under-reports actual inflation.
Too Late for Austerity
As for the more sober approach of simply confessing to America’s debt nightmare and accepting the need for austerity, the FED, which was created by (and lives only for) Wall Street, knows that any such attempt at austerity sends the sovereign bond market into a liquidity crisis.
In the second quarter of 2022 and the 3rd quarter of 2023, brief attempts at governmental “austerity” resulted in immediate dysfunction in the UST market.
In short, it’s too late for austerity. Sovereign bonds can’t stomache the volatility which follows and which we are now seeing in real time.
America’s current debt/GDP ratio is too high for an austerity option as it would cripple credit markets, drive down GDP, further weaken tax receipts and hence make Uncle Sam’s IOUs even harder to pay.
Again, few investors wish to fully accept that America has “no way out.” The nation is too far in debt to “GDP its way” forward, which means it’s left with “inflating/printing its way backward.”
Gold Investors See What Few Are Willing to Accept
Or stated more simply: Your currency is about to lose even more of its already diluted purchasing power.
Gold investors, whether on Main Street, Wall Street or among a BRICS+ nations, of course, are not afraid to see (and ACCEPT) this.
Even Central Banks see this: They are net seller’s of USTs and buying physical gold at record levels.
In short, many have already replaced false hope and paper money with cold facts and real money to preserve their wealth.
What about you?
3. CHRIS POWELL//GATA GOLD COMMENTARIES:
NY Fed refuses to say if it been repatriating or intervening in gold
Submitted by admin on Sat, 2023-12-02 10:33Section: Daily Dispatches
Can you help us get the answers?
* * *
10:35a ET Saturday, December 2, 2023
Dear Friend of GATA and Gold:
With repeated telephone calls and e-mails, for three weeks your secretary/treasurer has been trying to get the Federal Reserve Bank of New York to answer two simple questions about its gold responsibilities — questions the New York Fed has answered for others in years past — but has been unable to get any form of acknowledgment.
Would you be kind enough to help?
Here are the questions.
1) Does the New York Fed’s statement of November 9 asserting that the Federal Reserve and U.S. Treasury Department did not intervene in the foreign exchange markets during the July-September 2023 quarter —
2) Has the New York Fed repatriated any gold to foreign nations this year? If so, how much and to which countries, and how much was repatriated in each month?
Answers to these questions might illuminate how the gold market is being directly if surreptitiously influenced by central banks quite apart from any announced purchases of gold for reserves.
You can help in two ways.
First, try putting the questions directly to the publicists for the New York Fed as your secretary/treasurer has been doing. A list of the New York Fed’s publicists with their telephone numbers and e-mail addresses can be found at the bank’s internet site here —
And of course if you get any response, please let your secretary/treasurer know.
Your secretary/treasurer will bring these questions to the attention of a large number of reporters for mainstream news organizations and some financial letter writers, just in case any are ever allowed or inclined to put critical questions to central banks, the institutions that determine the value of all capital, labor, goods, and services in the world but seldom are asked to answer for what they do.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
END
4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/ live from the vault/Andrew Maguire
.
END
5 a. IMPORTANT COMMENTARIES ON COMMODITIES
END
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT
Gold Spikes To Record High Over $2,130, Bitcoin Soars Above $40,000 As Market Calls Powell’s Bluff
SUNDAY, DEC 03, 2023 – 07:26 PM
On Friday, shortly after Powell failed to hammer the hawkish case in his “fireside” chat with stocks eager to take out 2023 highs, we said that Powell has a big problem on his hands not so much because if the market was indeed correct about imminent easing that only assures that inflation will come back with a vengeance and Powell would indeed be the “second coming” of a former Fed Chair – only Burns not Vlcker – but because the kneejerk surge higher in gold (and digital gold) meant that the once again deathwatch for the dollar – and fiat in general – had resumed.
Well, with futures having opened for trading on Sunday night, what we joked about on Friday, namely that Powell – having seemingly once again lost control of the hawkish narrative – may be leaking emergency rate hikes though Nick Timiraos on Dec 12, ahead of the December FOMC (now that the Fed is in blackout mode)…
… is all too real because suddenly everything that is non printable is soaring, starting with gold, which has exploded as much as $60, spiking to a new all time high of $2,135…
… while bitcoin, and the entire crypto sector following closely, spiking above $40,000 for the first time since May 2022.
The bitcoin move was to be expected after what we reported yesterday, namely that cryptos had just seen their largest inflows in two years… and Friday’s comments by Powell only guaranteed even more capital would flow into the largely illiquid asset class.
“Bitcoin continues to be supported by optimism around SEC approval for an ETF and Fed rate cuts in 2024,” Tony Sycamore, a market analyst at IG Australia Pty, wrote in a note. Technical chart patterns point to $42,330 as the next level to watch for, he added.
As for gold, everything is suddenly going in its favor, and not only the violent resumption of the Israel-Hamas war (which now includes attacks on US warships in the Gulf)…
… but also years of market reflexes which prompt algos to buy gold any time the Fed is set to ease, something which markets assigned 80% odds on Friday could happen as soon as March.
And so, going back to square one, Powell is once again boxed in: either he pushes back on the market’s sudden dovish euphoria which could well send dollar sparling lower, and in turn send commodities exploding higher guaranteeing that all the worst aspects of Burns Fed make a triumphant return, or he does nothing, and we see gold go parabolic.
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 7.1374
OFFSHORE YUAN: UP TO 7.1444
SHANGHAI CLOSED DOWN 8.72 PTS OR 0.29%
HANG SENG CLOSED DOWN 184.25 PTS OR 1.09%
2. Nikkei closed UP 200.24 PTS OR 0.60%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 103.31 EURO FALLS TO 1.0864 DOWN 6 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.694 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.62/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 DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.3645***/Italian 10 Yr bond yield DOWN to 4.107** /SPAIN 10 YR BOND YIELD DOWN TO 3.3367…**
3i Greek 10 year bond yield DOWN TO 3.523
3j Gold at $2070.00 silver at: 25.18 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 30 /100 roubles/dollar; ROUBLE AT 90.71//
3m oil into the 73 dollar handle for WTI and 78 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146,62// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.694% 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 0.8722 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9476 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: 4.252 UP 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.422 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.604 UP 4 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 28.90…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN 2 BASIS PTS AT 4.2255
end
2.a Overnight: Newsquawk and Zero hedge
Futures Drop As Torrid November Rally Fizzles Ahead Of Jobs Data Deluge; China Stocks Hit 2023 Low
MONDAY, DEC 04, 2023 – 08:20 AM
US equity futures, most European bourses and Asian markets as well as global bonds all retreated after five consecutive weeks of gains, as traders paused to digest November’s blockbuster rally and to consider the case for interest rate cuts, which they aggressively priced in after Powell’s “not as hawkish as feared” fireside chat on Friday. As of 8am ET, S&P futures were lower by 0.3%, dropping back below the 4,600 unwinding a portion of Friday session rally (which however left hedge fund bruised and battered as the most shorted stock soared much more than the HF VIP basket); USD is stronger and commodities are weaker: crude futures are lower by around 0.4%, adding to Friday losses; 10-year Treasury yields added five basis points to 4.25%. Despite the rise in the DXY, Bitcoin surged past $41,000, while gold briefly touched an all time high. With the Fed in its blackout window, the macro data releases will be the key focus; no treasury auctions this week. Today, that focus is on factory orders and durable/cap goods; this week we get a deluge of labor data starting with the latest reading on US job openings (or JOLTS) tomorrow, followed by ADP’s National Employment Report on Wednesday and non-farm payrolls on Friday.
In premarket trading, Spotify shares rose 1.7% after the company said it will reduce headcount by about 17%, at least the third time this year the streaming service has cut jobs. Roche Holding AG gained after the Swiss drugmaker agreed to buy Carmot Therapeutics Inc. for as much as $3.1 billion in a deal that would give it access to experimental medicines in obesity and diabetes. Cryptocurrency-linked stocks rallied in premarket trading on Monday as Bitcoin extends gains to surpass the $42,000 mark, its highest level since April 2022. Shares of Hawaiian Airlines shares soared 181% after rival Alaska Air agreed to purchase the carrier for $1.9 billion. Here are some other notable premarket movers:
Carvana rose 4.5% after JPMorgan upgraded the online used-car dealer to neutral from underweight. The broker said the upgrade reflects improvements in “productivity, costs, and culture.”
Lululemon shares decline 2.0% after Wells Fargo downgraded the athletic-apparel brand to equal-weight from overweight, noting the valuation is “no longer cheap.” The broker also removes the stock from their Top Picks list, replacing it with Nike.
Uber Technologies, Jabil and Builders FirstSource all rise in premarket trading as the companies are set to join the S&P 500 Index.
Virgin Galactic fell 14% after Richard Branson told the Financial Times that he doesn’t plan further investments in the space tourism startup he founded.
A slew of economic reports this week culminating with Friday’s jobs report are expected to shed light on the state of the US labor market and whether markets are prematurely excited that softer economic conditions can open the door to Federal Reserve rate cuts. Soft-landing hopes built on an economy at “stall speed” look fragile, leaving the market open to risks of a deeper contraction, JPMorgan strategists led by Mislav Matejka warned in a note, although they have been saying the same thing for so long nobody cares any more.
Optimism around a peak in interest rates pushed the 10Y TSY yield down 60 basis points in November from a 16-year high of 5% the previous month, and brought a gauge of the securities into positive territory for the year. The S&P 500 advanced about 9%, one of its best November rallies in a century.
“While yield declines were warranted, the magnitude is too big given the recent data releases,” said Piet Christiansen, chief strategist at Danske Bank. “I think the market is too aggressive about rate cuts.”
As noted on Friday, bond traders doubled down on wagers that the Federal Reserve will cut interest rates as soon as next March even after Fed Chair Jerome Powell reiterated it’s premature to speculate on easing. Late last week, the swaps markets saw an 80% chance of a reduction in March and are fully pricing in a cut in May; March odds have since eased modestly. Those bets are set to be tested tomorrow, with the latest reading on US job openings (or JOLTS) for October. That report will be followed by ADP’s National Employment Report on Wednesday and non-farm payrolls on Friday.
“Still-robust demand and labor-market dynamics in the US” should keep traders wary that inflation can keep cooling, according to Barclays Plc strategists including Ben McLannahan. “Further falls in inflation will be more difficult from here,” they wrote in a report.
European stocks reversed earlier gains, trading about 0.1% lower as oil stocks underperformed most sub-sectors on Europe’s Stoxx 600 index. The Stoxx Europe 600 Energy index drops as much as 2% after Citi cited pressure on oil prices coming from more spare capacity and UBS flagged demand concerns. Citi analysts including Alastair Syme expect further oil price easing to low $70s by end-2024 in the face of growing spare capacity. The mining sector was the biggest underperformer amid falling iron ore prices. Here are Monday’s biggest movers:
Rolls-Royce shares gain as much as 4.1% as JPMorgan upgrades the plane-engine maker to overweight and Goldman Sachs reinstates its buy rating, adding to a chorus of bullish views
UCB rises as much as 7.8% after it announced that the EU has granted marketing authorization for Zilbrysq (zilucoplan) as an add-on to standard therapy for generalized Myasthenia Gravis
Wolters Kluwer rises as much as 4% and hits new all-time high. The German software and services provider is set to join the Euro Stoxx 50, replacing UK gambling firm Flutter
888 shares gain as much as 18% after the Sunday Times reported Playtech made an unsuccessful £700 million ($890 million) bid in July for the William Hill owner
DS Smith gains as much as 2.7% after Barclays upgraded its recommendation for the UK paper and packaging firm to overweight, calling it “one of the cheapest stocks in global packaging”
ITM Power jumps as much as 13% after the clean-fuel company reiterated its FY guidance. Analysts welcomed its update, which contrasts with recent profit warnings from sector peers
Nokia shares fall as much as 4.1% amid speculation that the telecom equipment maker could be removed from AT&T’s 5G equipment vendor list; rival Ericsson meanwhile gains as much as 2.7%
European mining stocks fall as much as 2% as iron ore prices drop after inventories rose and the steel market moved into the typically slower winter season across northern China
IMCD slips as much as 2% after JPMorgan cut its rating, noting that it doesn’t see earnings of chemical distributors’ in 2024 being “positively levered” to a possible macro recovery
Earlier in the session, Asia’s equity benchmark dropped, led by losses in Chinese and Hong Kong stocks as investors looked for fresh catalysts after a strong rally in November. Indian equities headed for a fresh record after Prime Minister Narendra Modi’s victories in three key state elections boosted expectations of policy continuity. The MSCI Asia Pacific Index declined 0.2%, after rising as much as 0.7% earlier. Stocks in Japan slid as the yen strengthened while Chinese shares extended declines. China Evergrande rallied 9% in Hong Kong after the distressed developer won breathing room to strike a restructuring agreement with creditors. That wasn’t enough to help boost Chinese stocks, however, and the CSI 300 Index closes down 0.7% at the lowest level of 2023 on Monday, as traders remain concerned about the health of the world’s second-largest economy despite Beijing’s recent push to shore up the market.
Hang Seng and Shanghai Comp traded indecisively as PBoC Governor Pan’s repeated support pledges were offset by a substantial net liquidity drain and geopolitical frictions in the South China Sea, while attention was also on Evergrande’s windup hearing which the Hong Kong court adjourned to January 29th to give the Co. some breathing space to work on its restructuring proposal.
Australia’s ASX 200 was higher with gains led by the yield-sensitive sectors such as tech and real estate, while gold miners were boosted after the precious metal initially surged above USD 2,100/oz and printed a fresh record high before fading the majority of the early spike.
Japan’s Nikkei 225 lagged and briefly approached the 33,000 level to the downside with pressure from recent currency strength.
Putting today’s weakness on context, Asian stocks headed into December on the back of a 7.7% rally last month, their best monthly gain since January, as investors pile into bets that the Federal Reserve may cut interest rates by mid next year. Optimism also remains that China will continue its policy support for its struggling economy. Historically, regional equities tend to have a quiet December with average rise in the past 10 years seen at around 0.9%, according to data compiled by Bloomberg.
In FX, the Bloomberg Dollar Spot Index rose 0.2% reversing part of Friday’s steep losses. The Swiss franc is one of the worst performers, falling 0.5% versus the greenback after data showed inflation slowed more than expected in November.
In rates, Treasuries are cheaper with losses led by the front-end and belly across the curve, flattening 2s10s and 5s30s spreads. There is no strong catalyst for price action according to Bloomberg analysts, as Treasuries follow similar bear flattening across German curve, unwinding a portion of Friday’s sharp rally. US yields cheaper by up to 6bp across front and belly of the curve with 2s10s, 5s30s spreads flatter by 1.2bp and 4bp on the day; 10-year yields around 4.245%, cheaper by 5bp on the day and lagging bunds and gilts by 5bp and 2bp in the sector. Focus on the session includes factory orders, while Fed speakers are now in a self-imposed quiet period ahead of Dec. 13 policy announcement. The Dollar IG issuance slate is empty so far; this week’s issuance forecast is $15b to $20b, with bond sales expected to be front-loaded with Monday anticipated to be the busiest day of the week. No coupon issuance scheduled for this week with next Treasury auctions being next week’s 3-, 10- and 30-year sales.
In commodities, oil prices extended their recent CTA-driven decline, with WTI falling 0.5% to trade near $73.70. Meanwhile, European natural gas prices declined amid persistent low demand for the fuel kept supplies intact. Benchmark futures fell as much as 4.9%, breaking two consecutive days of gains for the contract. Gold surpassed $2,130 an ounce before giving up gains for the day.
Bitcoin climbed past the $41,000 level to the highest since April 2022.
US economic data includes October factory orders, durable goods orders at 10am. Fed members are now in self-imposed black-out period for speaking ahead of Dec. 13 policy announcement
Market Snapshot
S&P 500 futures down 0.3% to 4,588.00
STOXX Europe 600 down 0.3% to 465.03
MXAP little changed at 161.80
MXAPJ up 0.1% to 503.65
Nikkei down 0.6% to 33,231.27
Topix down 0.8% to 2,362.65
Hang Seng Index down 1.1% to 16,646.05
Shanghai Composite down 0.3% to 3,022.91
Sensex up 2.1% to 68,881.89
Australia S&P/ASX 200 up 0.7% to 7,124.65
Kospi up 0.4% to 2,514.95
German 10Y yield little changed at 2.37%
Euro little changed at $1.0877
Brent Futures down 1.3% to $77.88/bbl
Gold spot up 0.2% to $2,075.57
U.S. Dollar Index little changed at 103.29
Top Overnight News
Defaults by Chinese borrowers have surged to a record high since the outbreak of the coronavirus pandemic, highlighting the depth of the country’s economic downturn and the obstacles to a full recovery. A total of 8.54mn people, most of them between the ages of 18 and 59, are officially blacklisted by authorities after missing payments on everything from home mortgages to business loans, according to local courts. FT
ALK (Alaska Air) said it would buy HA (Hawaiian Holdings) for $18/shr. in cash in a deal worth $1.9B (including ~$900M of net debt), a significant premium to HA’s Fri close of $4.86/shr. BBG
US goods deflation is in place and will likely continue for the foreseeable future (given that supply chains are back to normal while monetary tightening curbs demand), a trend that should help bring overall inflation back to the Fed’s 2% target as soon as the second half of 2024. WSJ
Israel expanded its offensive, with a ground invasion of southern Gaza expected. A US Navy ship responded to a flurry of drone and missile attacks against commercial ships in the Red Sea. The US said it’s working to restart hostage release negotiations. BBG
A Hong Kong judge has delayed a decision on Evergrande’s liquidation, an unexpected move that gives the Chinese property developer until next month to come up with a restructuring plan that satisfies its creditors. FT
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance (RELI.NS) set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country. RTRS
Speaker Johnson has proven to be a surprisingly staunch supporter of Washington providing more financial aid to Ukraine. WSJ
US corporate profits are beginning to rebound, a trend that could help prevent the US from experiencing a recession. WSJ
Spotify is preparing to cut 17% of its workforce, or about 1500 people, as the company looks to bolster margins and profitability. WSJ
A more detailed look at global markets courtesy of Newsquawk
Asia-Pac stocks traded mixed with an initial positive bias after last Friday’s gains on Wall St owing to a decline in yields amid increased Fed rate cut bets for next year despite the pushback from Fed Chair Powell, although the upside was capped in the region after quiet macro newsflow from the weekend and ahead of this week’s key events including central bank rate decisions and a slew of data releases. was higher with gains led by the yield-sensitive sectors such as tech and real estate, while gold miners were boosted after the precious metal initially surged above USD 2,100/oz and printed a fresh record high before fading the majority of the early spike. lagged and briefly approached the 33,000 level to the downside with pressure from recent currency strength. Hang Seng and Shanghai Comp traded indecisively as PBoC Governor Pan’s repeated support pledges were offset by a substantial net liquidity drain and geopolitical frictions in the South China Sea, while attention was also on Evergrande’s windup hearing which the Hong Kong court adjourned to January 29th to give the Co. some breathing space to work on its restructuring proposal.
Top Asian News
Chinese Center for Disease Control and Prevention requested that the elderly and patients with underlying diseases and children avoid public gatherings, while it advised the public to wear masks in crowded places such as public transportation. It also stated that some public cultural venues, museums and indoor attractions can implement measures to avoid high density of people.
PBoC Governor Pan reiterated a pledge to defend the housing market’s healthy operation and said China’s financing structure needs to be improved, while he vowed to handle actions disrupting market order and vowed low-cost funding aid to affordable home projects.
BoJ’s Noguchi said Japan has yet to achieve a wage-driven rise in inflation and said they must see price rises backed by sustained wage increases to achieve the 2% price target, according to Reuters.
A bombing attack killed four people and wounded several others in the Philippines’ southern city of Marawi City in Mindanao, while it was later reported that Islamic State claimed responsibility for the bombing.
China’s internet companies including Didi (DIDIY), Tencent (700 HK/ TCEHY) and Alibaba (9988 HK/ BABA) are reportedly drawing complaints amid growing system failures; industry experts call for strengthened oversight, according to Global Times
European equities are mixed, Eurostoxx50 -0.2%, with trade ultimately choppy throughout the session. The FTSE 100, -0.5%, underperforms, largely hampered by losses in Basic Resources and Energy. European sectors are mixed with Retail and Media to the upside, though the overall breadth of the market is narrow; Basic Resources and Energy are the main underperformers, largely a factor of losses in base metals and lower oil prices respectively. Stateside futures are trading on the backfoot, ES -0.3%, amid a mixed risk tone in European trade; with the RTY, +0.3%, outperforming.
Top European News
ECB’s Nagel said it is way too early to declare victory over inflation and noted that inflation in the Eurozone will carry on declining in the months ahead but at a slower pace, according to Kathimerini.
ECB’s de Guindos says recent inflation data is good news and it has been a “positive surprise”; too early to declare victory.
Riksbank Minutes: monetary policy has reduced demand in the Swedish economy and contributed to an easing of inflationary pressures; monetary policy needs to remain contractionary, however, it is now appropriate to leave the policy rate unchanged. Bremen says In my overall monetary policy assessment, the prospects for inflation and economic activity weigh more heavily than the continued weak krona.
German Economic Minister Habeck cancelled his COP28 trip to focus on budget talks.
French Interior Minister said one person died and two were injured from an attack by a suspect on tourists, while the suspect was said to be motivated by the Gaza situation and was on the French security services watch list, as well as known for psychiatric disorders.
S&P affirmed France at AA; Outlook Negative and affirmed Poland at A-; Outlook Stable, while Fitch affirmed the UK at AA-; Outlook Stable, affirmed Ireland at AA-: Outlook Positive and raised Greece from BB+ to investment grade status of BBB-; Outlook Stable.
FX
The Dollar index has kicked off the week on a firmer footing as yields eased off Friday’s highs and risk gradually soured overnight and into early European hours.
EUR/USD is slightly more cushioned vs G10 peers (ex-USD) following last week’s decline on dovish ECB commentary coupled with the softer-than-forecast regional CPI data across the bloc.
Japanese Yen is now flat intraday following the notable rise on Friday on the back of narrowing rate differentials – dipping from a 148.34 high towards a 146.65 low against the Dollar.
Swissy is the G10 laggard this morning following the region’s CPI metrics which printed sub-forecast across the board in the release before the SNB’s quarterly decision later this month.
Aussie, Loonie and Kiwi are hit by the broader risk mood, with the AUD and CAD narrowly lagging amid their commodity links.
PBoC set USD/CNY mid-point at 7.1011 vs exp. 7.1271 (prev. 7.1104).
Fixed Income
Core benchmarks are essentially unchanged at the time of writing, and reside towards the mid-point of circa. 40 tick parameters in EGBs.
Bunds were lifted to the 133.44 session peak in the wake of domestic Import/Export data, though the move proved fleeting.
USTs are just over 10 ticks shy of Friday’s peak and a touch softer on the session as yields, particularly at the short-end, lift and pause for breath during the Fed blackout & pre-data.
Commodities
Crude futures, WTI, -0.6%, lose further ground in a continuation of the price action seen since last week’s OPEC+ meeting which ultimately underwhelmed markets as voluntary supply cuts by OPEC+ members have raised doubts about their implementation; the complex has bounced off lows though very much within ranges.
Spot gold surged at the open to record levels, surpassing USD 2,100/oz before waning back to levels under USD 2,075/oz, with the rally primarily driven by traders betting on the Federal Reserve cutting interest rates early next year.
US Department of Energy said on Friday that oil companies will return 4mln barrels of oil to the US SPR by February from the previous exchange and the US seeks to buy up to 3mln more barrels of oil for SPR for February delivery.
US, UK and EU are to tighten compliance and increase leverage for buyers to keep getting discounted oil, while they jointly reached out to Liberia, the Marshall Islands and Panama to warn of increased circumvention of the Russian oil price cap.
Kuwait Oil Company said several were injured after a limited fire broke out at an oil line, although production was unaffected.
Canada’s First Quantum notified buyers that the Co. will not be able to meet agreements due to a force majeure.
UBS forecasts Gold at USD 2250/oz by end-2024
Kazakhstan daily oil output recovered to 230.5k tons on Dec 3rd after falling amid CPC shipping disruptions, according to data cited by Reuters.
Geopolitics: Israel-Hamas
Israel’s military chief said the operation in southern Gaza will match the operation in northern Gaza where they fought strongly and thoroughly, while an Israeli military spokesman said forces are operating on the ground against Hamas centres in all of Gaza, according to Reuters.
Hamas deputy chief said Israeli hostages will not be freed unless there is a ceasefire, and all Palestinian detainees are released, while the Hamas armed wing said they bombarded Tel Aviv with a barrage of missiles.
A Mossad team was in Doha on Saturday for discussions with Qatari mediators on restarting the Gaza truce in which talks focused on the potential release of new categories of Israeli hostages and new truce parameters. However, it was later reported that Israeli PM Netanyahu’s office said the Mossad team was recalled from Qatar due to deadlock in negotiations over Gaza and that Hamas did not meet its obligation to free all children and women hostages on the list it approved.
Israeli military spokesperson said several humanitarian trucks entered Gaza after being security cleared on the Israeli side of the border, while the spokesperson added that this will be a long war and not bound by time, according to Reuters.
Israel’s army said a launch was identified from Syria towards Israeli territory and the army responded by targeting the launch site, while it was also reported that Iran said two Revolutionary Guards were killed in an Israeli attack in Syria, according to Reuters.
US Pentagon said it is aware of reports regarding an attack on USS Carney and several commercial vehicles in the Red Sea, while the US said that USS Carney engaged and shot down a drone launched from Houthi-controlled areas in Yemen. It was separately reported that the Yemeni Houthi group said its navy targeted two Israeli ships although Israel’s military said the ships targeted had no connection to the state of Israel, while AFP reported that a UK-owned ship passing through the Red Sea was hit by rocket fire.
US carried out a self-defence strike in Iraq against an imminent threat at a drone staging site, according to a US military official.
US Vice President Harris said international humanitarian law must be respected in the Gaza war and too many innocent Palestinians have been killed, while she added that Israel has a legitimate military objective against Hamas but must do more to protect civilians. There were also comments from Secretary of Defense Austin who said protecting civilians in Gaza is a strategic imperative for Israel, as well as noted that the US will remain Israel’s closest friend and won’t let Hamas win.
UK Foreign Secretary Cameron will travel to Washington D.C. on Wednesday and will conduct bilateral meetings with US Secretary of State Blinken, as well as meet congressional figures, while the focus of discussions will be support for Ukraine and to work to de-escalate tensions in the Middle East, according to Reuters.
Islamic Jihad said Britain announced the participation of its air force in intelligence missions in Gaza as an effective participation in the aggression, according to AJA Breaking via social media platform X.
Turkish President Erdogan said the chance for peace in the conflict is lost for now due to Israel’s uncompromising approach, while he added that Hamas is not a terrorist organisation and nobody should expect him to define them otherwise. Furthermore, Erdogan said a contact group of Muslim countries is ready to prepare a roadmap for the resolution of conflict in Gaza after talks with Western powers.
Israel General says ground forces have almost completed their mission in Northern Gaza strip
Other
NATO Secretary General Stoltenberg said NATO should be ready for bad news from the Ukrainian front as Kyiv continues to defend against Russia’s invasion, while he added that they have to support Ukraine in both good and bad times, according to an ARD interview cited by Politico.
China’s military said a US combat ship illegally entered waters adjacent to the Second Thomas Shoal and that the US deliberately disrupted the South China Sea, while it added the US seriously violated China’s sovereignty and undermined regional peace and stability.
Philippines Coast Guard said it is to conduct patrols in the vicinity of the Whitsun Reef and it is monitoring the illegal presence of more than 135 Chinese maritime militia vessels at a reef in the South China Sea.
North Korea said interference with its satellite operation would be considered a declaration of war and that North Korea would respond to any US interference in space by eliminating the viability of US spy satellites. North Korea also stated that its laws stipulate mobilisation of war deterrence if an attack against its strategic assets becomes imminent, according to KCNA.
North Korea said US sanctions violate international law and that it will retaliate against the US, Japan and Australia for sanctions against its satellite launch, while it said it will take countermeasures against individuals and organisations that impose and enforce sanctions, according to KCNA. Furthermore, North Korea warned a “physical clash and war” have become a matter of time after the scrapping of a key military pact designed to reduce tensions with South Korea, according to The Telegraph.
Venezuela on Sunday approved a referendum called by the government of President Maduro to claim sovereignty over an oil- and mineral-rich area of Guyana, according to AP News.
Ukrainian drone attacked an oil depot within Russian-controlled Luhansk, via Ria
US Event Calendar
10:00: Oct. Cap Goods Orders Nondef Ex Air, prior -0.1%
10:00: Oct. Cap Goods Ship Nondef Ex Air, prior 0%
10:00: Oct. -Less Transportation, prior 0%
10:00: Oct. Factory Orders Ex Trans, prior 0.8%
10:00: Oct. Factory Orders, est. -3.0%, prior 2.8%
10:00: Oct. Durable Goods Orders, est. -5.4%, prior -5.4%
DB’s Jim Reid concludes the overnight wrap
All roads this week point to payrolls on Friday with the usual build up via JOLTS (tomorrow) and ADP (Wednesday). Elsewhere in the US the Services ISM is out tomorrow (we will also watch the employment sub component ahead of payrolls), and the initial read on inflation expectations in the University of Michigan confidence sentiment release (Friday) will be of note after 5-10yr expectations ticked up to a decade high of 3.2% last month. Remember the Fed are now on a blackout period ahead of next week’s FOMC so some of the big catalyst for moves of late, i.e. Fed speakers, won’t be there.
Around the globe, other highlights include a few important releases in Germany including the trade balance (today), factory orders (Wednesday) and industrial production (Thursday). Industrial production indicators are also due in France and Italy. Retail sales data is out for the Eurozone on Wednesday. In China, the Caixin services PMI (tomorrow) and trade balance figures (Thursday) are the highlights. Tokyo CPI is out just before midnight tonight
From central banks, Lagarde and Guindos speak today with the RBA (tomorrow) and Bank of Canada (Wednesday) expected to hold rates by the consensus although our economist is an outlier and predicts a hike in Australia . For the full week ahead the day-by-day calendar is at the end as usual.
Digging a bit deeper into the US employment picture, our US economists expect headline and private payrolls to come in at +130k with consensus at +180k and +160k respectively. The returning post-strike autoworkers will boost the data by around +30k. Unemployment is expected to hold steady at 3.9% by DB and the consensus, although our economists see the risks tilted to a 3.8% print. One thing our economists look carefully at is the diffusion index that shows the breadth of job gains. It’s currently at 52%, its lowest rate since the pandemic. They show that 70% of the private job gains in the last year come from only two sectors, namely leisure and hospitality and private education and healthcare. Outside of that job creation in the last 12 months is a very lowly 0.7% and just 0.2% over the last 6. Staying with US labour markets, the JOLTS data tomorrow is also important even if it’s October data. As our economists point out, while the hiring and quits rates were at or below their 2019 averages in September, the layoffs and discharges rate remained near historical lows. So that gap is keeping labour markets tight for now. Our base case is that the demand for labour eases in the next few months.
Asian equity markets are mostly trading lower as I type. The Nikkei (-0.72%), Hang Seng (-0.60%), CSI (-0.27%) and Shanghai Composite (-0.14%) are slipping while the KOSPI (+0.39%) is bucking the negative trend this morning. S&P 500 (-0.12%) and NASDAQ 100 (-0.28%) futures are also edging lower. 2 and 10yr Treasuries are back up +5-6bps this morning after a very strong rally last week as we’ll see below. Gold is up just under a percent and looking set for its highest close ever and Bitcoin is up over +3% and to the highest since April last year. In stock specific news, shares of Evergrande Group rose over +9.0% as a court hearing of the world’s most-indebted property developer over its possible liquidation was surprisingly postponed to January 29, 2024.
Recapping last week now, markets continued their strong performance as positive data added to growing investor confidence that the next move for central banks will be a dovish pivot. In fact, last week saw the close of the best month for a global 60:40 portfolio of equities and bonds since the positive vaccine news in November 2020. Supporting last week’s rally was encouraging inflation data on both sides of the Atlantic, an upward revision of US GDP for Q3 that showed annualised growth of +5.2% (previously +4.9%), and some dovish Fedspeak .
The rally was most pronounced in fixed income. After a brief stumble on Thursday, it continued on Friday as markets proved unphased by Fed Chairman Powell’s statement on Friday that the Fed was ready to tighten if needed. Instead, markets elected to focus on his comment that policy is “well into restrictive territory”. Fed funds futures moved to price in 134bps of cuts by December 2024, up from 90bps at the start of the week. This meant that 2yr Treasury yields fell -41.1bps (and -14.2bps on Friday) to their lowest level since June. 10yr yields were down -27.1bps (-13.0bps on Friday), their sharpest weekly decline since January and hitting their lowest level since the first week of September .
The stream of good news was also echoed in Europe, most notably with the November inflation numbers on Wednesday and Thursday, which saw Eurozone inflation slow to 2.4% (2.7% exp), its lowest since July 2021. With disinflation playing out faster than the ECB expected, markets raised their expectations of ECB rate cuts to price in 69bps of rate cuts by June 2024, up from 28bps at the start of last week. You can read our European economists’ take on the inflation numbers here. Off the back of this, 10yr bund yields fell -28.2bps last week (and -8.5bps on Friday) hitting their lowest level since June. The more interest-rate sensitive 2yr bund yields fell -39.0bps (and -13.4bps on Friday), to their lowest level since May.
The fixed income rally boosted risk appetite, though the +0.77% weekly rise for the S&P 500 (+0.59% on Friday) was remarkably its smallest gain in five weeks. The gains were broad-based, with the NASDAQ slightly underperforming (+0.38% on the week; +0.55% on Friday) and with the Magnificent Seven mega cap index down -1.19% (-0.24% Friday). Small cap stocks enjoyed the risk-on tone after rising +3.05% last week (and +2.96% on Friday). Over in Europe, the STOXX 600 posted a solid gain of +1.35% week-on-week (and +0.99% on Friday).
Finally, in commodities, gold enjoyed a strong week, soaring +3.57% (+1.73% on Friday) to a new all-time high of $2,072/oz. Meanwhile, the confirmation of OPEC+ cuts into 2024 did little to drive upward price momentum in oil, as markets remained doubtful over compliance to the new “voluntary cuts”. Brent crude fell -2.11% to $78.88/bbl, though its -4.77% fall on Friday was exaggerated by a shift in the benchmark month. WTI crude fell -2.49% to $74.07/bbl (and -1.95%% on Friday).
END
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Equities mixed, Crude slides, DXY firmer & CHF lags post-CPI; US Durable Goods due – Newsquawk US Market Open
MONDAY, DEC 04, 2023 – 06:00 AM
European equities mixed with underperformance in the FTSE100 hampered by Basic Resources and Energy; Stateside, futures trade on the backfoot
Dollar is firmer with clear underperformance in the Swiss Franc post-CPI; Yen trades marginally firmer attributed to narrowing yield differentials
Core fixed benchmarks are around unchanged; Bunds were briefly lifted in the wake of weaker German Trade data
WTI and Brent lose further ground in a continuation of last week’s action
Spot Gold surged at the open to record levels, surpassing USD 2,100/oz before waning back to levels under USD 2,075/oz; whilst base metals are mainly in the red
Looking ahead, US Durable Goods, Factory Orders, Australian Services & Composite PMI, Japanese CPI, Speeches from ECB’s Lagarde & Elderson.
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EUROPEAN TRADE
EQUITIES
European equities are mixed, Eurostoxx50 -0.2%, with trade ultimately choppy throughout the session. The FTSE 100, -0.5%, underperforms, largely hampered by losses in Basic Resources and Energy.
European sectors are mixed with Retail and Media to the upside, though the overall breadth of the market is narrow; Basic Resources and Energy are the main underperformers, largely a factor of losses in base metals and lower oil prices respectively.
Stateside futures are trading on the backfoot, ES -0.3%, amid a mixed risk tone in European trade; with the RTY, +0.3%, outperforming.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
The Dollar index has kicked off the week on a firmer footing as yields eased off Friday’s highs and risk gradually soured overnight and into early European hours.
EUR/USD is slightly more cushioned vs G10 peers (ex-USD) following last week’s decline on dovish ECB commentary coupled with the softer-than-forecast regional CPI data across the bloc.
Japanese Yen is now flat intraday following the notable rise on Friday on the back of narrowing rate differentials – dipping from a 148.34 high towards a 146.65 low against the Dollar.
Swissy is the G10 laggard this morning following the region’s CPI metrics which printed sub-forecast across the board in the release before the SNB’s quarterly decision later this month.
Aussie, Loonie and Kiwi are hit by the broader risk mood, with the AUD and CAD narrowly lagging amid their commodity links.
PBoC set USD/CNY mid-point at 7.1011 vs exp. 7.1271 (prev. 7.1104).
Core benchmarks are essentially unchanged at the time of writing, and reside towards the mid-point of circa. 40 tick parameters in EGBs.
Bunds were lifted to the 133.44 session peak in the wake of domestic Import/Export data, though the move proved fleeting.
USTs are just over 10 ticks shy of Friday’s peak and a touch softer on the session as yields, particularly at the short-end, lift and pause for breath during the Fed blackout & pre-data.
Crude futures, WTI, -0.6%, lose further ground in a continuation of the price action seen since last week’s OPEC+ meeting which ultimately underwhelmed markets as voluntary supply cuts by OPEC+ members have raised doubts about their implementation; the complex has bounced off lows though very much within ranges.
Spot gold surged at the open to record levels, surpassing USD 2,100/oz before waning back to levels under USD 2,075/oz, with the rally primarily driven by traders betting on the Federal Reserve cutting interest rates early next year.
US Department of Energy said on Friday that oil companies will return 4mln barrels of oil to the US SPR by February from the previous exchange and the US seeks to buy up to 3mln more barrels of oil for SPR for February delivery.
US, UK and EU are to tighten compliance and increase leverage for buyers to keep getting discounted oil, while they jointly reached out to Liberia, the Marshall Islands and Panama to warn of increased circumvention of the Russian oil price cap.
Kuwait Oil Company said several were injured after a limited fire broke out at an oil line, although production was unaffected.
Canada’s First Quantum notified buyers that the Co. will not be able to meet agreements due to a force majeure.
UBS forecasts Gold at USD 2250/oz by end-2024
Kazakhstan daily oil output recovered to 230.5k tons on Dec 3rd after falling amid CPC shipping disruptions, according to data cited by Reuters.
ECB’s Nagel said it is way too early to declare victory over inflation and noted that inflation in the Eurozone will carry on declining in the months ahead but at a slower pace, according to Kathimerini.
ECB’s de Guindos says recent inflation data is good news and it has been a “positive surprise”; too early to declare victory.
Riksbank Minutes: monetary policy has reduced demand in the Swedish economy and contributed to an easing of inflationary pressures; monetary policy needs to remain contractionary, however, it is now appropriate to leave the policy rate unchanged. Bremen says In my overall monetary policy assessment, the prospects for inflation and economic activity weigh more heavily than the continued weak krona.
German Economic Minister Habeck cancelled his COP28 trip to focus on budget talks.
French Interior Minister said one person died and two were injured from an attack by a suspect on tourists, while the suspect was said to be motivated by the Gaza situation and was on the French security services watch list, as well as known for psychiatric disorders.
S&P affirmed France at AA; Outlook Negative and affirmed Poland at A-; Outlook Stable, while Fitch affirmed the UK at AA-; Outlook Stable, affirmed Ireland at AA-: Outlook Positive and raised Greece from BB+ to investment grade status of BBB-; Outlook Stable.
DATA RECAP
German Trade Balance, EUR, SA (Oct) 17.8B vs. Exp. 17.1B (Prev. 16.5B, Rev. 16.7B); Exports -0.2% vs. Exp. 1.1% (Prev. -2.4%, Rev. -2.5%); Imports -1.2% vs. Exp. 0.8% (Prev. -1.7%, Rev. -1.9%)
Swiss CPI YY (Nov) 1.4% vs. Exp. 1.7% (Prev. 1.7%); Core 1.4%; MM -0.2% vs. Exp. -0.1% (Prev. 0.1%)
EU Sentix Index (Dec) -16.8 vs. Exp. -16.4 (Prev. -18.6)
Turkish CPI YY (Nov) 61.98% vs. Exp. 63.0% (Prev. 61.36%); MM 3.28% vs. Exp. 3.9% (Prev. 3.43%)
NOTABLE US HEADLINES
Nvidia (NVDA) CEO says the semiconductor industry that Japan is developing will be able to manufacture GPUs. Adds, demand is very high but told Japanese PM Kishida would prioritise Japan
Spotify (SPOT) to reduce total headcount by around 17%
Israel’s military chief said the operation in southern Gaza will match the operation in northern Gaza where they fought strongly and thoroughly, while an Israeli military spokesman said forces are operating on the ground against Hamas centres in all of Gaza, according to Reuters.
Hamas deputy chief said Israeli hostages will not be freed unless there is a ceasefire, and all Palestinian detainees are released, while the Hamas armed wing said they bombarded Tel Aviv with a barrage of missiles.
A Mossad team was in Doha on Saturday for discussions with Qatari mediators on restarting the Gaza truce in which talks focused on the potential release of new categories of Israeli hostages and new truce parameters. However, it was later reported that Israeli PM Netanyahu’s office said the Mossad team was recalled from Qatar due to deadlock in negotiations over Gaza and that Hamas did not meet its obligation to free all children and women hostages on the list it approved.
Israeli military spokesperson said several humanitarian trucks entered Gaza after being security cleared on the Israeli side of the border, while the spokesperson added that this will be a long war and not bound by time, according to Reuters.
Israel’s army said a launch was identified from Syria towards Israeli territory and the army responded by targeting the launch site, while it was also reported that Iran said two Revolutionary Guards were killed in an Israeli attack in Syria, according to Reuters.
US Pentagon said it is aware of reports regarding an attack on USS Carney and several commercial vehicles in the Red Sea, while the US said that USS Carney engaged and shot down a drone launched from Houthi-controlled areas in Yemen. It was separately reported that the Yemeni Houthi group said its navy targeted two Israeli ships although Israel’s military said the ships targeted had no connection to the state of Israel, while AFP reported that a UK-owned ship passing through the Red Sea was hit by rocket fire.
US carried out a self-defence strike in Iraq against an imminent threat at a drone staging site, according to a US military official.
US Vice President Harris said international humanitarian law must be respected in the Gaza war and too many innocent Palestinians have been killed, while she added that Israel has a legitimate military objective against Hamas but must do more to protect civilians. There were also comments from Secretary of Defense Austin who said protecting civilians in Gaza is a strategic imperative for Israel, as well as noted that the US will remain Israel’s closest friend and won’t let Hamas win.
UK Foreign Secretary Cameron will travel to Washington D.C. on Wednesday and will conduct bilateral meetings with US Secretary of State Blinken, as well as meet congressional figures, while the focus of discussions will be support for Ukraine and to work to de-escalate tensions in the Middle East, according to Reuters.
Islamic Jihad said Britain announced the participation of its air force in intelligence missions in Gaza as an effective participation in the aggression, according to AJA Breaking via social media platform X.
Turkish President Erdogan said the chance for peace in the conflict is lost for now due to Israel’s uncompromising approach, while he added that Hamas is not a terrorist organisation and nobody should expect him to define them otherwise. Furthermore, Erdogan said a contact group of Muslim countries is ready to prepare a roadmap for the resolution of conflict in Gaza after talks with Western powers.
Israel General says ground forces have almost completed their mission in Northern Gaza strip
OTHER
NATO Secretary General Stoltenberg said NATO should be ready for bad news from the Ukrainian front as Kyiv continues to defend against Russia’s invasion, while he added that they have to support Ukraine in both good and bad times, according to an ARD interview cited by Politico.
China’s military said a US combat ship illegally entered waters adjacent to the Second Thomas Shoal and that the US deliberately disrupted the South China Sea, while it added the US seriously violated China’s sovereignty and undermined regional peace and stability.
Philippines Coast Guard said it is to conduct patrols in the vicinity of the Whitsun Reef and it is monitoring the illegal presence of more than 135 Chinese maritime militia vessels at a reef in the South China Sea.
North Korea said interference with its satellite operation would be considered a declaration of war and that North Korea would respond to any US interference in space by eliminating the viability of US spy satellites. North Korea also stated that its laws stipulate mobilisation of war deterrence if an attack against its strategic assets becomes imminent, according to KCNA.
North Korea said US sanctions violate international law and that it will retaliate against the US, Japan and Australia for sanctions against its satellite launch, while it said it will take countermeasures against individuals and organisations that impose and enforce sanctions, according to KCNA. Furthermore, North Korea warned a “physical clash and war” have become a matter of time after the scrapping of a key military pact designed to reduce tensions with South Korea, according to The Telegraph.
Venezuela on Sunday approved a referendum called by the government of President Maduro to claim sovereignty over an oil- and mineral-rich area of Guyana, according to AP News.
Ukrainian drone attacked an oil depot within Russian-controlled Luhansk, via Ria
CRYPTO
Bitcoin jumped above the USD 40k level for the first time in more than a year and gradually extended on gains to breach above USD 41.5k.
APAC TRADE
APAC stocks traded mixed with an initial positive bias after last Friday’s gains on Wall St owing to a decline in yields amid increased Fed rate cut bets for next year despite the pushback from Fed Chair Powell, although the upside was capped in the region after quiet macro newsflow from the weekend and ahead of this week’s key events including central bank rate decisions and a slew of data releases.
ASX 200 was higher with gains led by the yield-sensitive sectors such as tech and real estate, while gold miners were boosted after the precious metal initially surged above USD 2,100/oz and printed a fresh record high before fading the majority of the early spike.
Nikkei 225 lagged and briefly approached the 33,000 level to the downside with pressure from recent currency strength.
Hang Seng and Shanghai Comp traded indecisively as PBoC Governor Pan’s repeated support pledges were offset by a substantial net liquidity drain and geopolitical frictions in the South China Sea, while attention was also on Evergrande’s windup hearing which the Hong Kong court adjourned to January 29th to give the Co. some breathing space to work on its restructuring proposal.
NOTABLE HEADLINES
Chinese Center for Disease Control and Prevention requested that the elderly and patients with underlying diseases and children avoid public gatherings, while it advised the public to wear masks in crowded places such as public transportation. It also stated that some public cultural venues, museums and indoor attractions can implement measures to avoid high density of people.
PBoC Governor Pan reiterated a pledge to defend the housing market’s healthy operation and said China’s financing structure needs to be improved, while he vowed to handle actions disrupting market order and vowed low-cost funding aid to affordable home projects.
BoJ’s Noguchi said Japan has yet to achieve a wage-driven rise in inflation and said they must see price rises backed by sustained wage increases to achieve the 2% price target, according to Reuters.
A bombing attack killed four people and wounded several others in the Philippines’ southern city of Marawi City in Mindanao, while it was later reported that Islamic State claimed responsibility for the bombing.
China’s internet companies including Didi (DIDIY), Tencent (700 HK/ TCEHY) and Alibaba (9988 HK/ BABA) are reportedly drawing complaints amid growing system failures; industry experts call for strengthened oversight, according to Global Times
DATA RECAP
Australian Home Loans MM (Oct) 5.4% vs Exp. 1.1% (Prev. 0.6%, Rev. 1.5%)
Australian Gross Company Profits (Q3) -1.3% vs. Exp. -0.3% (Prev. -13.1%)
Australian Business Inventories (Q3) 1.2% vs. Exp. -0.6% (Prev. -1.9%)
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 8.72 PTS OR 0.29% //Hang Seng CLOSED DOWN 184.25 PTS OR 1.09% /The Nikkei CLOSED DOWN 200.24 PTS OR 0.60% //Australia’s all ordinaries CLOSED UP 0.70 % /Chinese yuan (ONSHORE) closed UP AT 7.1374 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1444 /Oil DOWN TO 73.70 dollars per barrel for WTI and BRENT DOWN AT 78.37/ Stocks in Europe OPENED MOSTLY MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
2 d./NORTH KOREA/ SOUTH KOREA/ //
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
end
3 CHINA
The Drag From China’s Property Crisis Will Only Become Bigger
BY TYLER DURDEN
SUNDAY, DEC 03, 2023 – 10:00 PM
By Charlie Zhu and Helen Sun, Bloomberg markets live reporter and strategists
Three things we learned last week:
1. A protracted slump in China’s property market is hampering the broader economy’s recovery. Official data showed manufacturing activities contracted in November, while the services sector also lost momentum. A surprise pickup in a private manufacturing gauge was met with skepticism.
The latest data show there’s no end in sight for the crisis, with the decline in China’s home sales worsening. Homebuyer sentiment remained weak amid uncertain employment and income prospects, according to Fitch Ratings. Concerns over developers’ home delivery weighed on the market as more firms faced liquidity issues, analysts led by Karl Shen wrote in a report.
Neither infrastructure construction nor high-end manufacturing can fill the missing demand from a lack of home purchases, Wu Ge, chief economist at Changjiang Securities Co., wrote in a note. Wu previously worked at the central bank’s monetary policy department.
What’s worse, policy push to have banks offer a lifeline to developers is adding more pain to the financial sector. Lenders, which have already been suffering from soaring bad loans and record low net interest margins, face the prospect of big losses and job cuts.
2. China was left out in the everything rally that lifted global assets in November, underscoring the depth of pessimism. The CSI 300 benchmark closed near its weakest level of the year on Friday, even after a report that a state entity has purchased ETFs lifted stocks off their session lows.
Efforts at one of China’s largest investment banks to silence bearish commentary deepened investor worries about a lack of access to transparent data and research. A rally in equities traded on the Beijing Stock Exchange, which has been an outlier in the sluggish market, also lost steam.
Still, some investors are spotting opportunities. Fidelity International is timing a re-entrance into the market as Beijing prioritizes growth, while Franklin Templeton sees valuations as too attractive to ignore.
3. Amid all the gloom, the emergence of a new technology giant suggests the country is still a dynamic market. Shares of PDD Holdings Inc., an eight-year-old e-commerce platform, surged after reporting a near doubling in revenue. Its market cap outstripped Alibaba Group Holding Ltd. last week in a landmark shift for the country’s tech industry.
More of those valuable startups originating from China may become available for public investment. Fast-fashion retailer Shein is said to have filed confidentially with US regulators for an initial public offering that could take place next year.
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
FRANCE/PARIS
Hammer-Wielding Man Shouting ‘Allahu Akbar’ Kills Paris Tourist, Wounds 2 More
SUNDAY, DEC 03, 2023 – 11:05 AM
A knife- and hammer-wielding French national killed a German and wounded two more people close to the Eiffel Tower on Saturday night, French interior minister Gérald Darmanin announced.
The attack unfolded around 8 pm local time on the Quai de Grenelle, a tourist-magnet thoroughfare along the Seine River close to the Eiffel Tower. The assailant reportedly first approached a couple and fatally stabbed a Philippines-born German citizen in his back and shoulder.
As police gave chase, he managed to attack two more people with a hammer before cops mercifully subdued him with a Taser. At least one of those additional victims was an English tourist strolling with his wife and child, according to Le Parisien.
“The assailant was neutralized very quickly by police. We tried to save the life of this man. It’s a man who died and they (the people who were attacked) were tourists,” Dr Patrick Pelloux tells BFM TV. The Englishman is hospitalized in stable condition. The other survivor is said to have been “badly hurt.”
Police say they’ve arrested the 26-year-old attacker. However, demonstrating a lack of government transparency reminiscent of last week’s stabbing spree in Dublin by an Algerian immigrant, French authorities have not yet identified him or released details about his ethnicity. To their credit, however, they have said he is a radical Islamist who was born in Neuilly-Sur-Seine, an exclusive western Paris suburb, and who lives with his parents in the Esonne region south of the city.
They also said the individual hadalready been on a police watch list, having been sentenced in 2016 to four years in prison for planning a different terror attack. Authorities say that, on Saturday evening, he shouted “Allahu Akbar” — Arabic for “God is greatest” — and later told cops that he was angry that “so many Muslims are dying in Afghanistan and in Palestine.”
An estimated 15,000 residents of Gaza have been killed by the Israel Defense Forces since the Oct. 7 Hamas attacks on southern Israel. More women and children have been killed there than in the entire Ukraine war that began in February 2022.
Darmanin also said the man had been previously diagnosed with psychiatric disorders. The investigation into Saturday’s bloodshed will be led by France’s anti-terrorism prosecutor’s office.
“He [suspect] said to the police who arrested him that he could no longer accept that Muslims die in Afghanistan and Palestine,” the official said.
Paris has endured many attacks fueled by Islamist extremism, most notably the November 2015 suicide-bombing and shooting attacks that killed 130 people — including 90 attending a concert at the Bataclan Theater — and injured another 400. In October, the French government raised the terror alert to the highest threat level after an Islamist radical stabbed a teacher to death.
Paris will host the 2024 Summer Olympiad in July and August, starting with an unusual and ambitious opening ceremony that will present unique challenges for counterterrorism efforts. Unlike previous opening ceremonies, which take place within the confines of a secured stadium, Paris will host a parade of boats along the Seine, with hopes of attracting some 600,000 spectators along miles of river banks.
END
5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS
ISRAEL/HAMAS/ UN
Israelis discover Gaza rockets in a mosque hidden under UN equipment. Friday night
(Jerusalem Post)
IDF discovers Gaza rockets, missiles hidden under UNRWA equipment
IDF destroys Gaza mosque used by Islamic Jihad as operational HQ • IDF strikes over 50 terror targets in Khan Yunis from air, land, and sea
Israeli forces operate across the Gaza Strip on December 2, 2023(photo credit: IDF SPOKESPERSON’S UNIT)
The IDF on Saturday uncovered dozens of Hamas missiles hidden underneath UNRWA equipment, it announced.
Dozens of missiles with varying capacities, as well as some 30 Grad rockets, were found and confiscated by forces from the 261st Brigade.
The IDF struck over 400 terror targets across the Gaza Strip since the resumption of the war in Gaza, following a seven-day humanitarian truce with terrorist group Hamas.
Some 50 of the 400 targets attacked were targeted as part of an air raid on Khan Yunis, in the southern Gaza Strip, the IDF said. Israeli naval forces used precision-guided missiles to strike Hamas terror infrastructure, as well as naval equipment, located near the Khan Yunis harbor.
In the northern Strip, Israeli forces from the 401st Brigade struck down a terror cell and directed aerial fire targeting several terror targets in the Jabaliya area.
The IDF released footage of the strike that can be viewed below.
IDF destroys Gaza mosque used by Islamic Jihad as operational HQ
In addition, forces from the 215th Artillery Brigade operated across the northern Strip, directing aerial strikes against a terror cell that planned to ambush the forces.
Two Islamic Revolutionary Guards (IRGC) were killed in a reported Israeli airstrike in Syria, Iran announced through its state-run media on Saturday afternoon.
Syrian air defenses responded to a strike against targets in the vicinity of Damascus earlier on Saturday, Syrian state media reported, adding defenses shot down most of the missiles.
“The Israeli enemy carried out an air aggression from the direction of the occupied Syrian Golan, targeting some points in the vicinity of the city of Damascus,” the Syrian state news agency said, citing a military source.
There were only material damages, it added.
end
(Times of Israel)
Early Saturday morning
Mossad says negotiating team ordered home from Qatar as truce talks hit a ‘dead end’
IDF urges residents of Khan Younis, north Gaza combat zones to leave amid heavy fighting * Rocket fire toward southern Israel * IDF targets Hezbollah in Lebanon
Netanyahu orders Mossad to return from Qatar after Gaza truce ‘dead end’
Israel is reportedly open to considering more future pauses in its war in Gaza to allow for the release of hostages kept by Hamas.
By JERUSALEM POST STAFF, REUTERSDECEMBER 2, 2023 13:31Updated: DECEMBER 2, 2023 14:27
Israeli Prime Minister Benjamin Netanyahu is seen next to Mossad Director David Barnea at a pre-Passover toast, on April 4, 2023.(photo credit: KOBI GIDEON/GPO)
Prime Minister Benjamin Netanyahu ordered Mossad chief David Barnea and his team to return from Qatar due to a “dead end” in negotiations that took place in Doha on Saturday, the Prime Minister’s Office said.
A team from Israel’s Mossad intelligence service was in Doha Saturday for discussions with Qatari mediators on restarting the Gaza truce, a source briefed on the visit told Reuters.
The Qatar-mediated talks focused on the potential release of new categories of Israeli hostages other than women and children and the parameters of a truce, which the source said differed from the truce agreement that collapsed on Friday.
Israel and Hamas have been considering new parameters for the release of hostages and the truce since before it collapsed.
The truce which began on November 24 saw Hamas release Israeli women and children taken hostage on October 7 in exchange for the release of Palestinian prisoners, including women and teens.
Smoke from an explosion rises in Gaza, after a temporary truce between Israel and the Palestinian Islamist group Hamas expired, as seen from southern Israel, December 2, 2023. (credit: REUTERS/ALEXANDER ERMOCHENKO)
Israel and Hamas have traded blame over the collapse of the truce, which lasted a week and was extended twice before mediators were unable to find a way for a third extension.
Israel accused Hamas of refusing to release all the women it held. A Palestinian official said the breakdown occurred over female Israeli soldiers.
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Israel ‘open to considering’ more pauses in Gaza war
Israel is open to considering more future pauses in its war in Gaza to allow for the release of hostages kept by Hamas, the Wall Street Journal reported late on Friday citing an Israeli official.
“We can negotiate while we still fight,” the official was quoted as saying.
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(zerohedge)
Mossad Negotiators Called Home From Qatar As Hopes For Extending Truce Reach “Dead End”
SATURDAY, DEC 02, 2023 – 09:55 AM
Israel has sent its negotiating team in Qatar home, after Friday morning marked the end of the truce and its collapse and return to fighting in the Gaza Strip. Aerial bombardment of the Gaza Strip has continued through Saturday.
Primarily the negotiating team was made up of the Mossad intelligence agency, and they were ordered home after reaching a “dead end” on the possibility of extending the truce.
“Due to the dead end in negotiations, and following instructions from Prime Minister Benjamin Netanyahu, Mossad head David Barnea ordered the negotiating team in Doha to return home,” a statement from the prime minister’s office said. Israeli media has pointed to the extreme rarity of Netanyahu’s office issuing a statement on behalf of the spy agency.Image: Times of Israel/GPO
“The Hamas terror group did not fulfill its obligations under the agreement that included releasing all the women and children that were on the list provided to Hamas that had authorized it,” the statement added. Israeli and US officials have also complained that Hamas was trying to separate families (mothers from children) in order to draw out the process and create more leverage.
The statement did congratulate the team on being able to secure the release of 84 women and children, along with 24 foreign nationals – most of them Thai workers kidnapped from southern Israeli settlements on Oct.7. The ceasefire had held for one week.
“The head of the Mossad thanks the head of the CIA, the Egyptian Minister of Intelligence and the Prime Minister of Qatar for their partnership in the tremendous mediation efforts that led to the release of 84 children and women from the Gaza Strip in addition to 24 foreign citizens,” the prime minister’s office said on his behalf.
A mere couple hours before the confirmation that the Mossad team had been sent home, a Reuters report said both the Israeli and Hamas sides were “considering new parameters for the release of hostages and the truce since before it collapsed.”
Israel says there are still 137 hostages in Hamas captivity, which also includes some Americans. In total 110 were returned home over the past week, with hundreds of Palestinian prisoners released as part of the swap.
Israel’s airstrikes have ramped up in the southern part of the Gaza Strip, where most civilians are now concentrated…
This impasse and total breakdown in negotiations has resulted in French President Emmanuel Macron declaring that he is en route to Doha to help revive ceasefire talks. He made the announcement from the COP28 climate summit in Dubai:
French President Emmanuel Macron said on Saturday that France was “very concerned” by the resumption of violence in Gaza and that he was heading to Qatar to help “engage a new truce ahead of a cease-fire”.
Macron also told a press conference at the COP28 climate summit in Dubai that the situation required the doubling down on efforts to obtain a “lasting cease fire” and the freeing of all hostages.
He said this initiative of his is chiefly out of concern that this war, already with an immense and still soaring death toll, could drag on for years. Macron warned that Israel pursuing the “total destruction of Hamas” means the “war will last 10 years”.
This week an Israeli official was quoted in the Financial Times as saying, “This will be a very long war… We’re currently not near halfway to achieving our objectives.”
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Late Saturday evening: IDF in the north (Jabalya)
IDF kills Hamas terrorists and destroys tunnels, subterranean infrastructure in Jabalya
The IDF isolated and secured an area near Jabalya while working to destroy Hamas terrorists and infrastructure.
By JERUSALEM POST STAFFIDF troops operate in Jabalya, in the Gaza Strip. December 2, 2023.(photo credit: IDF)
The IDF 551st Brigade combat team completed a mission in Jabalya, in the Gaza Strip, on Saturday, having killed Hamas terrorists and destroyed terror infrastructure, the IDF said.
The neutralized infrastructure included tunnels and subterranean structures.
During the operation, which had began before the initiation of the now-ended cease-fire between Israel and Hamas, IDF troops identified and destroyed a Hamas terror tunnel which extended tens of meters below the surface of the earth.
A Hamas tunnel in a school
The tunnel had been located in the courtyard of a school compound.
Another tunnel was located and destroyed in the home of a Hamas naval force activist, the IDF stated.
IDF troops discover a tunnel shaft near a school compound in Jabalya. December 2, 2023 (Credit: IDF)
Soldiers of the 551st Brigade, along with Israeli special forces, also worked to eliminate subterranean infrastructure north of Jabalya, where Israeli troops subsequently Isolated and secured a an area to facilitate further IDF activity.
Also, along with the air force and artillery units, IDF troops destroyed numerous pieces of Hamas combat equipment, including weapons, explosives, launchers, and ammunition.Go to the full article >>
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SUNDAY:
IDF says 800 tunnels discovered in Gaza op, 500 destroyed or sealed
Military says hundreds of kilometers of tunnels, many of which link Hamas’s ‘strategic assets,’ eliminated; IDF Arabic spokesperson urges Shejaiya battalion to surrender
The Israel Defense Forces said Sunday that troops have discovered more than 800 tunnel shafts in the Gaza Strip since the beginning of the ground offensive targeting the Hamas terror group that began in late October.
The military said that around 500 of them have already been destroyed, either by setting off large explosive charges inside or by sealing them.
According to the IDF, many of the tunnels connect Hamas’s “strategic assets.”
The military said it has also destroyed hundreds of kilometers’ worth of tunnels, in addition to the shafts.
“The shafts were located in civilian areas, and many of them were located near or inside educational institutions, kindergartens, mosques, and playgrounds,” the IDF said.
In some of the tunnels, soldiers found Hamas weaponry.
“These findings are further proof of the cynical use that the Hamas terror organization makes of the civilian population as a human shield, and as a cover for its terror activity,” the IDF added.
Israel has vowed to topple Hamas after the October 7 massacres, in which Palestinian terrorists stormed across the border from Gaza and slaughtered some 1,200 people, mostly civilians, and took around 240 hostages.
During a seven-day truce — which lapsed on Friday after Hamas did not deliver a list of hostages it intended to release and began firing rockets an hour before the truce was due to expire — the terror group released 105 civilian hostages: 81 Israelis, 23 Thai nationals, and one Filipino. It is believed that 137 hostages remain in Gaza.
In return, Israel released 210 Palestinian security prisoners, all women and minors. Additionally, some 200 trucks, including four tankers of fuel and four tankers of cooking gas, entered Gaza each day.
IDF urges Shejaiya battalion to surrender
Meanwhile Sunday, as the military pressed its operations to take control of northern Gaza, the IDF’s Arabic-language spokesman, Lt. Col. Avichay Adraee, threatened Hamas’s Shejaiya battalion in a post on X.
“This is a final notice. You are all targets,” Adraee said, attaching a picture of the commanders of the Shejaiya battalion, which operates in the Gaza City neighborhood of the same name.
He said the IDF will work to destroy Hamas’s infrastructure in the neighborhood.
“You have two options: surrender and lay down your weapons, or face a fate similar to that of Wissam Farhat,” Adraee added, referring to the Shejaiya battalion commander, who was killed in an Israeli airstrike Saturday.
Overnight, the IDF said it hit Hamas tunnels, command centers, munitions warehouses, and other sites linked to Gaza terror groups.
In addition, a group of Hamas operatives were “eliminated” by a drone, directed by troops of the 7th Armored Brigade, the military said. It also said the Navy shelled targets linked to Hamas, including military infrastructure, vessels associated with the terror group’s naval forces, and weapons depots.
Amid the strikes, terrorists continued to fire rockets at border communities on Sunday morning.
Three rockets hit the southern city of Sderot, causing damage, according to the municipality.
There were no reports of injuries. Communities close to the border with the Strip have been largely evacuated of civilians since October 7.
Several other rockets were intercepted by the Iron Dome over the city.
Damage is seen caused to a synagogue in the southern city of Sderot following a rocket attack from Gaza, December 3, 2023. (Sderot Municipality)
Meanwhile, the Israeli military continued to use an evacuation map for Palestinians in the Gaza Strip, urging them to avoid active combat zones.
The map is intended to replace an IDF demand for mass evacuations as it did in the northern part of Gaza. Critics have said the online guide is pointless as many in the Strip are left without power or internet.
Adraee said on X that Palestinians in several zones in Khan Younis should move to specified safe areas.
The map splits the Gaza Strip into hundreds of small zones, and the military has called on Palestinians to pay attention to their area’s number and follow the IDF’s future updates.
Humanitarian situation ‘unimaginable’
The United Nations humanitarian agency OCHA said that at least 160 Palestinian fatalities were reported in two incidents in northern Gaza Saturday: the bombing of a six-story building in Jabalia refugee camp, and an entire block in a Gaza City neighborhood.
Throughout its operation, the IDF has provided evidence of Hamas and other terror groups’ use of civilian infrastructure such as schools, mosques, residential buildings, and hospitals for military purposes.
“Prior to the bombings, Israeli forces dropped leaflets ordering the evacuation of these areas,” OCHA said in a report.
In a new estimate, OCHA said about 1.8 million people — roughly 75 percent of Gaza’s population — are internally displaced, up from an earlier figure of 1.7 million. “However, obtaining an accurate count is challenging,” OCHA said.
Mohamed Abu Abed, who lives in the Sheikh Radwan neighborhood in Gaza City, said Sunday there were relentless airstrikes and shelling in his neighborhood and surrounding areas.
“The situation here is unimaginable,” he said. “Death is everywhere. One can die in a flash.”
People check the damage in a house hit by an Israeli strike in Khan Younis in the southern Gaza Strip on December 3, 2023. (Mahmud HAMS / AFP)
A World Health Organization team that visited Nasser Hospital in the southern Gaza Strip found it packed with 1,000 patients — three times its capacity, WHO Director-General Tedros Adhanom Ghebreyesus said Sunday on X, formerly Twitter.
“Patients were receiving care on the floor, screaming in pain,” Tedros wrote. These conditions are “unimaginable for the provision of health care.”
Hamas says the Israeli military campaign has killed more than 15,200 people, mostly civilians. These numbers have not been independently verified and are believed to include combatants as well as Palestinian civilians killed by errant rockets launched by terror groups.
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SUNDAY NIGHT
IDF eliminates Hamas commander of Shati Battalion, Haitham Khuwajari
The senior Hamas commander was killed in a targeted strike conducted by an IAF jet operating on intelligence provided by the Shin Bet, the IDF said.
By SAM HALPERNDECEMBER 4, 2023 00:16Updated: DECEMBER 4, 2023 00:25
Haitham Khuwajari, the former commander of Hamas’s Shati Battalion.(photo credit: IDF)
An IDF fighter jet conducted a targeted strike in the area of the Shati refugee camp outside of Gaza City, successfully killed the commander of Hamas’s Shati Battalion, Haitham Khuwajari, the IDF and Shin Bet said on Sunday evening.
“Today, the IDF, based on guidance by the Shin Bet and intelligence units, and as part of the Southern Command’s operation, targeted and killed the commander of the Shati Battalion through an airstrike,” IDF Spokesperson Rear Admiral Daniel Hagari stated during a subsequent press briefing.
The IDF noted that Khuwajari, in addition to being the commander of the Hamas forces in the Shati area, was one of the Hamas commanders that orchestrated the deadly Hamas rampage in southern Israel on October 7.
Securing Hamas activity inside of Al-Shifa Hospital
The IDF also said that Khuwajari was responsible for facilitating Hamas activity inside of Al-Shifa Hospital and had previously carried out a number of terrorist attacks on Israelis.
The strike on Haitham Khuwajari, the commander of Hamas’s Shati Battalion. (Credit: IDF)
“Under his command, there were also infiltrations into Israeli territory, including the brutal massacre on October 7th,” Hagari said. “We will continue to pursue, locate and eliminate every commander who terrorizes the area under their control, as we did yesterday in the Shejaiya Battalion.
On Saturday, the IDF eliminated Hamas Shejaiya Battalion commander Wissam Farhat, the terrorist responsible for directing the attack on Nahal Oz on October 7.
Israeli Arabs (citizens of Israel) caught trying to escape. They are assassins. Their homes are in the little triangle of Umm al Fahm and Jaljulia and the Arab city of Nazareth (also in Israel)
(Times of Israel)
Israeli assassins attempt escape, police disable car in dramatic chase
The four suspects, hailing from Umm al-Fahm, Jaljulia, and Nazareth, were arrested in a bulletproof vehicle, with Kalashnikov-type firearms.
In a dramatic turn of events, a squad of assassins was apprehended by the Northern District police during their attempt to flee a crime scene.
The four suspects, hailing from Umm al-Fahm, Jaljulia, and Nazareth, were arrested in a bulletproof vehicle, with Kalashnikov-type firearms seized during subsequent searches.
The pursuit unfolded after authorities received intelligence that the squad was planning an act of revenge for a shooting incident in Nazareth earlier in the week. As law enforcement closed in, the suspects attempted to evade capture. A high-speed chase ensued, during which the police resorted to firing shots at the wheels of their armored vehicle, successfully immobilizing it and enabling the fugitives to be apprehended.
Arrest of Suspects in Murder Attempt in the North (credit: POLICE SPOKESPERSON’S UNIT)
Remand extended
At the request of the police, the court granted a six-day extension to the detention period for the suspects aged 19, 26, 30, and 38.
Commander of the Northern District, Superintendent Shuki Tahauka, emphasized the relentless nature of the ongoing war between criminal organizations: “We cannot underestimate the threat they pose. It was only due to the courageous efforts of our officers that we averted a potentially tragic outcome. Our mission is to prevent further loss of life and violence by dismantling these criminal networks.”
The incident is a stark reminder of the far-reaching impact of organized crime, transcending geographical boundaries. Law enforcement remains steadfast in its commitment to neutralizing such threats and ensuring public safety.
Since the beginning of this war, the IDF has been focused on two main goals: dismantling Hamas and bringing home the hostages.
During the operational pause of the last week, 105 of the abducted civilians were released from captivity in Gaza and brought home to Israel. The images of our brothers and sisters returning home after so long moved Israelis and people around the world. But with over a hundred hostages still in captivity Gaza, our mission to bring each and every one of the hostages home remains unchanged.
As part of the framework of the pause, Israel increased the number of trucks of humanitarian aid – including food, water, medical equipment and shelter supplies – going into Gaza to 200 per day. Our commitment to enabling the entry of humanitarian aid into Gaza for the people of Gaza also remains the same.
So what did change?
Hamas violated the pause, including by launching rockets toward Israeli civilians early Friday morning.
The message from Hamas is clear. They chose to prioritize attacking Israeli civilians over the welfare of Gazan civilians, who were relying on the increased deliveries of humanitarian aid.
Following these violations, Israel resumed its military operations in Gaza.
Our mission to dismantle Hamas began before the pause. We temporarily stopped to enable some of our hostages to come home. Now, we are continuing with this mission, because we can’t ask our children to go back to living alongside a murderous terrorist organization.
Our actions are a measured response, defending our nation, bringing home our hostages, and aiming to dismantle the threat posed by Hamas. This hasn’t changed – and won’t change until victory.
Friends and family are more than welcome to join you in receiving my updates too:
On Friday morning, Hamas fired the first of a series of rockets toward southern Israel at 05:42 AM while the operational pause was still in effect. Later on Friday night – as families gathered together for Shabbat – Hamas fired another barrage of rockets toward central Israel, sending hundreds of thousands of Israelis running for shelter.
At 07:08 AM on Friday, the IDF officially announced the resumption of operations in the Gaza Strip. Since then, IDF ground, aerial and naval forces have been carrying out strikes on Hamas forces and infrastructure in both the north and south of the Gaza Strip.
On Friday afternoon, five IDF soldiers were injured after a mortar shell fired from Gaza fell adjacent to Kibbutz Nirim in southern Israel. The soldiers were evacuated to receive medical treatment.
The IDF announced that it is providing information to residents of the Gaza Strip on movement for their safety in the next stage of the war. This includes an online map in Arabic showing the division of evacuation areas in the Gaza Strip.
The IDF and ISA announced that the body of the hostage Ofir Tzarfati z”l was recently located by combined IDF and ISA forces in the Gaza Strip, and was brought to Israel. Ofir was kidnapped on October 7th, from the area of the party in Re’im. We send our deepest condolences to his family.
In the north, there were renewed attacks along the border, including mortars and rockets fired into Israel. Early on Friday afternoon, the IDF Aerial Defense Array successfully intercepted a suspicious aerial target that crossed from Lebanon into Israel.
Another great way to keep up with all our video content is through one of longest-running social media platforms, the IDF’s official YouTube channel. Take a look at this message I shared about Hamas’ cynical exploitation of civilians:
Stay informed, stay vigilant, and have a Shabbat Shalom.
LTC Richard Hecht
end
When will the idiot Biden learn: he must attack Iranian assets now. EARLY SUNDAY
(Times of Israel)
Pentagon: US warship and several commercial ships under attack in Red Sea
An American warship and multiple commercial ships have come under attack in the Red Sea, the Pentagon says, potentially marking a major escalation in a series of maritime attacks in the Mideast linked to the Israel-Hamas war.
“We’re aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available,” the Pentagon says.
The British military earlier said there had been a suspected drone attack and explosions in the Red Sea, without elaborating.
The Pentagon did not identify where it believed the fire came fro
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LATE SUNDAY
Pentagon Confirms US Warship, Commercial Ships Under Attack In Red Sea
SUNDAY, DEC 03, 2023 – 09:45 PM
Update (1800ET):
US Central Command provided a detailed summary of the four maritime attacks carried out by Houthi rebels in the Red Sea, targeting commercial vessels on Sunday:
Today, there were four attacks against three separate commercial vessels operating in international waters in the southern Red Sea. These three vessels are connected to 14 separate nations. The Arleigh-Burke Class destroyer USS CARNEY responded to the distress calls from the ships and provided assistance.
At approximately 9:15 a.m. Sanaa time, the CARNEY detected an anti-ship ballistic missile attack fired from Houthi controlled areas of Yemen toward the M/V UNITY EXPLORER, impacting in the vicinity of the vessel. UNITY EXPLORER is a Bahamas flagged, U.K. owned and operated, bulk cargo ship crewed by sailors from two nations. The CARNEY was conducting a patrol in the Red Sea and detected the attack on the UNITY EXPLORER.
At approximately 12 p.m., and while in international waters, CARNEY engaged and shot down a UAV launched from Houthi controlled areas in Yemen. The drone was headed toward CARNEY although its specific target is not clear. We cannot assess at this time whether the Carney was a target of the UAVs. There was no damage to the U.S. vessel or injuries to personnel.
In a separate attack at approximately 12:35 p.m., UNITY EXPLORER reported they were struck by a missile fired from Houthi controlled areas in Yemen. CARNEY responded to the distress call. While assisting with the damage assessment, CARNEY detected another inbound UAV, destroying the drone with no damage or injuries on the CARNEY or UNITY EXPLORER. UNITY EXPLORER reports minor damage from the missile strike.
At approximately 3:30 p.m. the M/V NUMBER 9 was struck by a missile fired from Houthi controlled areas in Yemen while operating international shipping lanes in the Red Sea. The Panamanian flagged, Bermuda and U.K. owned and operated, bulk carrier reported damage and no casualties.
At approximately 4:30 p.m., the M/V SOPHIE II, sent a distress call stating they were struck by a missile. CARNEY again responded to the distress call and reported no significant damage. While en route to render support, CARNEY shot down a UAV headed in its direction. SOPHIE II is a Panamanian flagged bulk carrier, crewed by sailors from eight countries.
These attacks represent a direct threat to international commerce and maritime security. They have jeopardized the lives of international crews representing multiple countries around the world. We also have every reason to believe that these attacks, while launched by the Houthis in Yemen, are fully enabled by Iran. The United States will consider all appropriate responses in full coordination with its international allies and partners.
end
MONDAY
They should have thought hard about what will happen in a major attack…losts job
Jerusalem Post)
Palestinians lose jobs as Israeli firms seek foreign replacements
Many of the Palestinians worked as day laborers in Israel, or in Jewish settlements in the West Bank, and have been unable to travel to their jobs due to the closure of border crossings since Oct 7.
By REUTERSDECEMBER 4, 2023 13:41
Palestinian workers in Israel(photo credit: REUTERS)
When Taha Amin-Ismail Khalifeh dialed into a conference call with his Israeli employer last month, the Palestinian hotel worker expected a briefing on how the Israel-Hamas war was affecting business. Instead, he and 40 others were laid off.
Khalifeh, who lives in the West Bank, had worked as a housekeeper in the hotel in East Jerusalem for more than 20 years.
About 160,000 Palestinians from the West Bank who were working in Israel and in Jewish settlements have lost or are at risk of losing their jobs because of the closure of border crossings from the West Bank into Israel and settlements, and restrictions on their access to Israel’s job market, according to the UN’s International Labour Organization (ILO).
Israel has also sent back thousands of Palestinians to the Gaza Strip.
It had previously issued 18,000 permits allowing Gazans to cross into Israel and the West Bank to take jobs in sectors like agriculture or construction that had salaries up to 10 times what a worker could earn in the blockaded enclave.
A Palestinian police officer checks the documents of Palestinian workers as they enter the reopened Erez crossing to Israel, after Israeli ends a ban on workers from Gaza, in Gaza City September 28, 2023. (credit: REUTERS/IBRAHEEM ABU MUSTAFA)
Many of the Palestinians worked as day laborers in Israel, or in Jewish settlements in the West Bank, and have been unable to travel to their jobs due to the closure of border crossings since Hamas’s October 7 assault on southern Israel.
Like many of them, Khalifeh had mixed feelings about working for an Israeli business, but it was his best option for a reliable paycheck. Unemployment is running at about 46% in Gaza and 13% in the West Bank, and wages are much lower.Advertisement
“There is nothing that would provide us with a living except working in Israel,” Khalifeh told the Thomson Reuters Foundation by phone. “We have no other choice.”
Now jobless for more than a month, he fears he may never be able to return as Israeli businesses urge the government to plug the labor gap left by the Palestinian workers from nations including India and Sri Lanka.
Israeli farms, buildings sites and hotels are among the sectors struggling with a shortage of workers since the war erupted, and some foreign migrant laborers have left, fearing for their safety.
The Israel Builders Association (ACB) has asked the government to seek to recruit at least 60,000 foreign laborers to fill the gap left by the Palestinians, Shay Pauzner, the ACB’s deputy director-general, said in emailed comments.
Sri Lanka, desperate for dollars and remittances, plans to send 10,000 workers for the Israeli construction industry, part of a wider contingent of 20,000 workers also including farm laborers, a government minister told Reuters last month.
Israel’s Foreign Ministry, the Population and Immigration Authority and COGAT, the government agency that oversees entry permits, did not respond to requests for comment.
A fragile economy
Efforts to bring in replacements from overseas have raised fears that Palestinian workers’ long-term employment prospects could be jeopardized, regardless of what happens in the current conflict.
“This is dangerous issue,” Saeed Omran, head of media at the Palestine General Federation of Trade Unions, said by phone, though he added that it would take time for tens of thousands of foreigners to be hired.
“How are they going to get them so fast?” he said.
The long-term loss of Israeli jobs would deal another blow to the fragile Palestinian economy, which is dependent on foreign aid and vulnerable to Israeli travel restrictions in the West Bank.
According to the ILO, the Palestinian job losses since the start of the war equate to a daily income loss of $16 million.
That raises concerns about how Palestinians will live and work in the months and years to come, especially in Gaza, said Miriam Marmur, the public advocacy director at Gisha, an Israeli nonprofit which campaigns for freedom of movement of Palestinians.
“It’s hard to imagine that workers from Gaza will be given access to jobs. What’s going to be the humanitarian and economic reality in the Strip? What’s the situation of the Palestinian economy going to be coming out of this?” Marmur said.
For low-paid workers, the loss of income is already causing financial pain.
Construction worker Muthana Jamal Hassan, 33, who lives in the West Bank city of Jenin, had just finished a painting job in Tel Aviv when the war broke out.
He earned $140 a week and was his family’s main breadwinner, but has had no income since the war began, and said he will soon be forced to get into debt to cover his family’s basic needs.
Because of the border closures, he said he can not safely cross the border and fears being shot at or detained by Israeli security forces if he tries to do so.
“We used to work to eat and drink, not to buy villas and cars,” he said by phone from his home. “We were living in a certain way and now it was taken away from us overnight.”
Foreign workers
About 110,000 foreign migrant workers from countries including Thailand and the Philippines already work legally in Israel. Some were among the 1,200 civilians killed by Hamas militants on Oct. 7, according to Israeli tallies.
India agreed in May to send construction workers and caregivers to Israel, but the country’s Ministry of External Affairs said it was “unaware of any specific figure or request” from Israel since the conflict with Hamas erupted.
Israeli efforts to recruit foreign workers to replace Palestinians have drawn criticism from trade unionists in India, with the Construction Workers Federation of India calling the push “immoral,” pointing to the death toll in Israel’s bombardment and ground invasion of Hamas-ruled Gaza.
Hamas-governed health authorities, deemed reliable by the United Nations, say more than 15,000 Gazans have been confirmed killed.
Referring to the ACB’s request for foreign laborers to be hired, a spokesperson for Israeli migrant rights labor group Kav LaOved said the mass recruitment of foreign workers at short notice during wartime might threaten their rights.
“They want to bring in so many people without being prepared,” said spokesperson Assia Ladizhinskaya.
“We need Israel to enforce (workers’) rights to check if they’re being recruited normally, if the employer can communicate with them with translators, and do checks in the fields and the construction sites to see if the workers are being treated well,” Ladizhinskaya added.
The group has been helping dozens of workers recover unpaid wages by contacting their employers, and has urged the Israeli government to let laid-off Palestinians withdraw funds from their pensions to help them cope with the earnings loss.
Construction worker Ahmad Mohammad Abu Sbay used to be paid 3,800 shekels ($1,023) per month, which he said was just enough to cover the family’s needs, but he has not worked since the war began.
“I don’t know how I’m going to feed my family,” the 37-year-old father-of-four said by phone from his home in the West Bank city of Bethlehem.
“I feel the mental pressure every minute and every hour.”
(Jerusalem Post)
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MONDAY
Israel Expands Ground Operations To Whole Of Gaza, Seeking “Total Victory”
MONDAY, DEC 04, 2023 – 07:45 AM
The Israel Defense Forces (IDF) on Sunday announced for the first time that not only are its air strikes extending to the south of the Gaza Strip, where the bulk of civilians from the north have fled, but it is expanding its ground operations to the whole of Gaza.
Following the collapse of the week-long truce on Friday, spokesman Daniel Hagari said in a press briefing, “The IDF is resuming and expanding the ground operation against Hamas’ strongholds across the whole Gaza Strip.”
“Our policy is clear — we will forcefully strike any threat posed against our territory,” he emphasized in words that came the day after Prime Minister Benjamin Netanyahu pledged “total victory” and that the war will be taken to Hamas “until the end.”
He still vowed to “do everything possible” to return the 137 hostages still in Hamas captivity. Contrary to Washington’s stance, he batted down a reporter’s question about the Palestinian Authority’s (PA) potential role in a post-war Gaza, saying it “pays murderers” and “educate[s] their children to hate Israel and, to my sorrow, to murder Jews, and ultimately for the disappearance of the State of Israel.”
“I’m not prepared to delude myself and say that this defective thing, established under the Oslo Accords in a terrible mistake,” he said of the idea of the PA governing a post-war Gaza.
During his weekend remarks, Netanyahu also again warned Hezbollah that its further involvement in the war would bring about the destruction of all of Lebanon. This came amid reports that a Hezbollah missile attack sent 12 Israelis to the hospital – with troops and civilians among them.
Following last week’s ceasefire, the death toll has once again continued to mount, with the latest data from the Hamas-controlled Ministry of Health in Gaza saying at least 15,200 Gazans have died since Oct.7 – with most of them being women and children.
Two weeks ago, the Associated Press reported, “Palestinian health officials in Gaza said Tuesday that they have lost the ability to count the dead because of the collapse of parts of the enclave’s health system and the difficulty of retrieving bodies from areas overrun by Israeli tanks and troops.”
As for the IDF death toll since ground operations were initiated, this stands at 75 Israeli troops killed, according to official military numbers.
Given the huge and rising Palestinian death toll, the White House has been feeling more international pressure to place conditions on the US weaponry sent to Israel, which Biden has so far refused to do. Biden’s top national security (NSC) official John Kirby faced scrutiny concerning the administration’s stance on multiple fronts related to Gaza:
The White House believes Israel is “making an effort” to minimize civilian deaths in Gaza, a senior official said Sunday, as international concern mounted over the numbers killed in the resumed war with Hamas.
Speaking on the US Sunday talk shows, National Security Council spokesman John Kirby also insisted that US intelligence was unaware of any secret, advance Hamas blueprint for its brutal October 7 attack on Israel that triggered the conflict.
The New York Times reported last week that Israeli authorities had obtained such a document a year before the attack occurred, and a report on Israel’s Channel 12 Sunday claimed plans for a Hamas assault on the scale of the October 7 attack were in Israeli hands as early as 2018.
As the reported Gaza death toll surpassed 15,000 – Blinken simply repeated the standard talking point that the US believes Israel is doing everything it can to minimize civilian deaths and ‘collateral damage’.
“We believe they have been receptive to our messages here of trying to minimalize civilian casualties,” he said. He pointed to Israel having published a map informing civilians of where they can go to find safety.
“There’s not a whole lot of modern militaries that would do that… to telegraph their punches in that way. So they are making an effort,” Kirby said. However, Palestinian officials have long complained that places once thought safe, such as southern towns, are still coming under major bombardment.
END
MONDAY/LATE AFTERNOON/NIGHT TIME ISRAEL
Looks like Israel hit a big Hamas senior official
Footage from Gaza hospital sparks speculation senior target hit
Footage appearing to show Hamas members distancing people from a vehicle which arrived at the Nasser hospital in southern Gaza sparked speculation that a high-ranking target had been hit amid Israeli airstrikes on Monday evening.
In the video, Hamas police could be seen using batons to distance people after an ambulance and a civilian vehicle arrived at the entrance to the hospital. The video shows the ambulance before cutting suddenly to a scene where the ambulance has already left. It is unclear who was being carried in the ambulance and the civilian car or why the video had been cut.
end
MONDAY AFTERNOON
(TIMES OF ISRAEL)
Dozens of tanks roll into southern Gaza as rockets target central Israel, Beersheba
IDF forces head toward Khan Younis with Strip’s main north-south road declared ‘battle zone’; troops still operating in Gaza’s north, where Gallant vows military will ‘break’ Hamas
IDF tanks roll near the border with the Gaza Strip on December 3, 2023, amid continuing battles between Israel and the Hamas terror group. (Menahem KAHANA / AFP)
Dozens of Israeli tanks entered the southern part of the Gaza Strip on Monday and were seen operating near Khan Younis, as the military pushed ahead with expanding its ground offensive into the area, where it believes Hamas leadership is hiding. Armored personnel carriers and bulldozers were also seen by witnesses.
Meanwhile, Palestinian terrorists fired rockets at central Israel, as well as southern towns and the city of Beersheba.
Some of the Israel Defense Forces tanks were seen on the southern part of Salah al-Din road, the Strip’s main north-south highway, which the army’s Arabic-language Spokesman declared to be a “battle zone.”
“The fighting and military advance of the IDF in the Khan Younis area does not allow the movement of civilians through the Salah al-Din axis in the areas north and east of the city,” Lt. Col. Avichay Adraee said on X, announcing a new humanitarian corridor in southern Gaza.
He said the IDF would facilitate the movement of civilians via a bypass route to the west of Khan Younis.
“Passage from the Rafah and Khan Younis areas toward Deir al-Balah and the camps of central Gaza will be available through the following routes: al-Rashid coastal road and al-Shuhada Street in Deir al-Balah,” he said.
Israel has vowed to topple Hamas after the October 7 massacres, in which Palestinian terrorists stormed across the border from Gaza and slaughtered some 1,200 people, mostly civilians, and took around 240 hostages.
On Monday morning, the IDF said the Air Force had carried out strikes against some 200 Hamas targets in Gaza overnight, including cars ferrying missiles and mortars for Hamas operatives, an anti-tank missile launch position, Hamas operatives and weapons depots.
The ground operation was continuing in northern Gaza as well. The military said its Negev Brigade had destroyed Hamas infrastructure inside a school in Beit Hanoun that was used by operatives to attack troops. Inside the school complex, forces found two tunnel entrances, including one that was booby-trapped, and other weapons.
The Navy also carried out strikes overnight, targeting Hamas observation posts and other infrastructure along Gaza’s coast, according to the military.
Later Monday, footage leaked online showed IDF forces demolishing Hamas’s main courthouse in the Strip in a controlled blast. The lavish building in the central Gaza Strip, known as the Justice Palace, was captured by troops last month.
Defense Minister Yoav Gallant observed the northern Gaza Strip’s city of Jabaliya and Shejaiya neighborhood from the Israeli border, saying IDF troops would remain there until Hamas’s infrastructure is completely destroyed, while threatening the terror group in southern Gaza as well.
“Golani troops have returned to Shejaiya to bring things full circle,” he said, referring to tough battles led by the brigade in the Gaza City neighborhood in 2014. “This time they will not leave it until all the terror infrastructure located there is eliminated.
“The army is operating at its best, the chief of staff is managing things fearlessly and with great success. This action that is happening now, in the north of the Gaza Strip, will soon lead to the breaking of [Hamas in] the entire area of Gaza City and northern Gaza,” he said.
Defense Minister Yoav Gallant observes the northern Gaza Strip from the border, December 4, 2023. (Ariel Hermoni/Defense Ministry)
“At the same time, the IDF has begun to work in southern Gaza. The fate of the terrorists in the Hamas battalions there will be the same as those in the north, and worse,” Gallant warned. “We will continue until victory and until all goals are achieved — the elimination of Hamas and the return of the hostages to Israel.”
The IDF said Monday that for the first time since 2005, the IDF’s Kfir Infantry Brigade was operating in Gaza, in its first-ever wartime ground maneuver. It said in a statement that the brigade’s forces discovered some 30 Hamas tunnel shafts and directed around 100 artillery strikes against the terror group’s sites.
On Monday morning, the IDF announced the deaths of three troops in the fighting a day before, bringing the military’s death toll since Israel’s ground offensive in Gaza began in late October to 75.
Separately, the family of Yonatan Samarno, 21, who had previously been thought to be held hostage in Gaza, was informed that he had been killed and that his body was being held by Hamas. The IDF has been employing intelligence and other gathered data to determine the fate of some of the Israelis who remain missing following October 7.
One of those was Col. Asaf Hamami, 41, the commander of the Gaza Division’s Southern Brigade, who was declared Saturday to have been killed on the day of the attacks. Monday saw thousands of people, including senior military officers and Gallant, attend Hamami’s funeral in Tel Aviv.
Family and friends of Col. Asaf Hamami mourn during his funeral in Kiryat Shaul Cemetery in Tel Aviv, December 4, 2023, (Miriam Alster/Flash90)
On Sunday night, the IDF released footage of a Gaza airstrike it said killed the commander of Hamas’s Shati battalion, Haitham Hawajri, who had been responsible for sending some of the Hamas terrorists into Israel during the October 7 massacre, and led the fighting against troops in Gaza City’s Shati camp during the war.
According to the IDF, Hawajri and his battalion were responsible for securing Gaza City’s Shifa Hospital, where the military says the terror group had a base.
“As part of his role, Hawajri was responsible for significant terror activity against the citizens of the State of Israel,” the IDF added in a statement.
Hamas claims the Israeli military campaign has killed more than 15,500 people, mostly civilians. The numbers have not been independently verified and are believed to include combatants as well as Palestinian civilians killed by errant rockets launched by terror groups.
Hundreds of thousands of Israelis were again sent fleeing to bomb shelters on several occasions on Monday, as Gazan terror groups kept up rocket launches at population centers.
Warning sirens sounded at 2 p.m. in Ramat Gan near Tel Aviv and in nearby Kiryat Ono, Yehud-Monosson, Savyon and Or Yehuda. Projectiles targeted Ashkelon an hour earlier, and at 5 p.m., alarms sounded in Beersheba and nearby communities for the first time since November 11.
This picture taken from the southern Gaza Strip shows a salvo of rockets fired by Palestinian terrorists toward Israeli cities on December 4, 2023, amid continuing battles between Israel and Hamas. (Photo by MAHMUD HAMS / AFP)
Short-range rockets continued to pummel largely evacuated Israeli communities near the Gaza border throughout the day.
No injuries or damage were reported in any of the attacks, with the Iron Dome air defense system intercepting some of them and others likely falling in unpopulated areas.
Times of Israel staff contributed to this report.
END
TIMES OF ISRAEL/MONDAY NIGHT
Israel’s current attacks on Hamas
In the last few hours, IDF and the Israeli Air Force have continued their attacks in the Gaza Strip.
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Israeli soldiers make their way towards Israel’s border with Gaza, amid the ongoing ground invasion against Hamas, in southern Israel, November 8, 2023 (credit: RONEN ZVULUN/REUTERS) They have eliminated rocket launchers and terrorist infrastructures. They have also attacked warehouses and eliminated Hamas terrorists.
The 7th Armored Brigade located three Hamas terrorists, and the force’s commander quickly directed a manned aircraft toward the terrorists, successfully eliminating them.
Additionally, IDF forces have recently attacked a Hezbollah weapons depot in Lebanese territory. This attack was done in response to a mortar firing from the area towards an IDF outpost.
Several launches were also detected from Lebanese territory towards the Tel Hai area and Kiryat Shmona. Past the IDF post in the Shetula area, the IDF attacked the sources of the shooting.
Fateful decision: NATO imposes naval blockade on Gulf of Finland and Kaliningrad – 70,000 NATO troops around Russian enclave
Baltic on track for full-scale conflict – NATO simulated occupation of Russian territories
The Russian Navy, Air Force and Army have been put on red alert in the Kaliningrad region as Moscow prepares for a full-scale conflict in the Baltic. The Russians note that it is very likely that the new front will open even within 2024.
Two successive reports from the Russian services speak of a NATO blockade in Kaliningrad and the Gulf of Finland which is constantly expanding while in an exercise NATO simulates the occupation of Russian territories.
A total of 70,000 NATO troops are located around the perimeter of the Russian enclave in the Baltic.
The Gulf of Finland is a gulf of the Baltic Sea that stretches between Finland and Estonia to the city of Saint Petersburg.
Russian report: NATO begins blockade of Kaliningrad!
“Events in the Baltic and around Kaliningrad are developing in such a way that the North Atlantic Alliance is gradually blocking the Russian enclave. “NATO is following this strategy deliberately and step by step,” says the first Russian report on the developments in the region.
In June, the United States deployed six nuclear submarines armed with ballistic missiles to the Atlantic, giving Washington an advantage over Moscow in the event of a nuclear war.
In addition, the West involved the Baltic countries. Latvia has announced the need to close the Baltic Sea to Russian ships, Denmark has announced the closure of the straits to Russian ships, and the Estonians, Finns and Norwegians are beginning to block their border points with Russia.
At the same time, NATO countries are increasing their presence in the waters of the Baltic Sea. All this makes Kaliningrad’s connection with mainland Russia very vulnerable. The Baltic fleet has limited capabilities to counter the Western bloc powers.
In addition, the head of the German Defense Ministry, Boris Pistorius, announced the dispatch of a tank brigade to Lithuania to blockade the area.
NATO simulates a blockade of the Gulf of Finland and the occupation of Russian territories
The Russians also note that the Freezing Winds 23 exercise scenarios leave no room for misinterpretation of what is coming to the region.
“The armed forces of the member countries of the North Atlantic Alliance have started large-scale exercises codenamed Freezing Winds 23. The exercises are led by a new member of NATO, Finland, not without reason, since they practice actions against Russia in the northern direction .
A group of troops from NATO countries, numbering at least 5 thousand military personnel from different states, was deployed on the northwestern border of the Russian Federation. 30 ships and 20 aircraft are participating in the exercises.
It is noteworthy that even the official scenario of the exercises does not hide their aggressive orientation.
The exercises include the capture of the Russian Federation’s Gogland, Bolshoy Tyuters and Moshchny islands and the blockade of the Gulf of Finland and the Kaliningrad region.
Units of the armies of the NATO countries need to improve their skills in Baltic Sea minelaying, as well as in amphibious and amphibious operations.
The NATO military threat in the Kaliningrad region – 70,000 troops…
Finland has effectively shut down land communications with Russia. Estonia and Norway are preparing to follow suit. Apparently, these measures are aimed at continuing the implementation of Western plans to block the Kaliningrad Special Region (KOR), the Russians say.
In addition, the situation is seriously aggravated by the statements of Copenhagen about the imminent closure of the waterways for Russian ships, as well as the build-up of American forces and the upcoming NATO exercises in this area.
It is important to consider what is around the Kaliningrad Special Region (KOR). NATO naval forces, US units numbering about 20 thousand military personnel, 30 thousand Polish soldiers and 10 thousand Lithuanians have already been deployed.
Also, the 42nd Tank Brigade “Lithuania” with 5 thousand military personnel will move to the Suwalki Corridor.
Thus, the total number of the NATO armada will reach about 70 thousand soldiers, ready to occupy Kaliningrad and its surroundings.
It is likely that in the first stage NATO will try to destroy the forces of the Baltic fleet, air defense systems, Russian air force and important infrastructure. An attack by ground units from the north and south will follow in order to prevent a breakout from the east by RGV(S) Group forces to liberate the blockaded enclave.
Currently, the 12th and 16th Polish divisions, located near Kaliningrad, are being reinforced. The Poles get K2 tanks, K9 and Krab self-propelled guns, as well as HIMARS MLRS and Rak. In addition, Polish formations conduct exercises that increasingly simulate military operations.
“Major NATO exercises will take place in February-March 2024, during which Western troops will conduct combat coordination.
Then plans to capture Kaliningrad are likely to be implemented in order to eliminate the “threat” to the north-eastern side of the alliance,” the Russians conclude.
For the first time they also give a date…
The map with the encirclement of Kaliningrad
GLOBAL VACCINE/COVID ISSUES
Adverse Events From COVID Vaccination More Likely With Prior COVID Infection
Individuals previously infected with SARS-CoV-2 develop immunity and may be more likely to experience adverse events following COVID-19 vaccination compared to those with no history of infection, according to a study published in Clinical Infectious Diseases.
Canadian researchers conducted a large, prospective observational study to assess the short-term safety of COVID-19 vaccines in adults with a previous history of SARS-CoV-2 infection. Study participants were sent an electronic questionnaire seven days after receiving their first, second, and third vaccine doses to assess whether adverse events experienced after vaccination prevented daily activities, attendance at work or school, or required medical care, including hospitalization.
Among 684,998 vaccinated participants included in the analysis, 369,406 received Pfizer’s COVID-19 vaccine, 201,314 received Moderna, and 113,127 received AstraZeneca’s viral vector vaccine.
There were 18,127 individuals (2.6 percent) who reported previous laboratory-confirmed COVID-19 infection two to six months before receiving their first vaccine dose.
According to the study, individuals previously infected with SARS-CoV-2 were more likely to experience an adverse event the week following vaccination—regardless of the vaccine type—that interfered with daily activities, school, and work or required emergency department visits or hospitalization.
After the second and third vaccine doses, the greater risk associated with previous SARS-CoV-2 infection was also present but was weakened compared with the first dose.
The association was lower or absent for all doses after mild or asymptomatic infection. In other words, the risk was most significant among those who experienced moderate to severe COVID-19 prior to vaccination.
In addition, mRNA COVID-19 vaccines continued to produce increased immune reactions in previously infected individuals, whereas AstraZeneca’s viral vector vaccine did not. Following Pfizer or Moderna’s booster—or third vaccine dose—researchers found that a higher proportion of previously infected participants reported adverse events that interfered with daily activities, school, or work—or that required medical intervention.
“The association is stronger after the first dose than after the second and third doses,” the authors wrote. “Providers should consider additional vaccine counseling on expected adverse effects for individuals previously infected with SARS-CoV-2 prior to vaccination,” they concluded.
“These findings are not surprising, nor should any immunologist be surprised,” public health advocate and immunologist Dr. Hooman Noorchashm told The Epoch Times. “If you vaccinate people who’ve experienced natural infection, especially recently, you’re potentially opening the door to medical complications.”
Dr. Noochashm recounted the case of a young orthopedic surgeon, J. Barton Williams, who died on Feb. 8, 2021, from multi-system inflammatory syndrome (MIS) after receiving his second dose of Pfizer’s COVID-19 vaccine. MIS is a rare and severe immune reaction that can occur in those who had SARS-CoV-2 infection weeks or months before receiving a COVID-19 vaccine and may lead to significant organ damage. “There were several high profile deaths, like Williams’ with previous COVID-19, who then received one or two vaccine doses, experienced a hyperimmune response, and died,” Dr. Noorchashm said.
Dr. Noorchashm attempted to bring this issue to the attention of vaccine manufacturers and the U.S. Food and Drug Administration (FDA) when COVID-19 vaccines were first authorized. He was concerned those with prior infection required to get vaccinated under vaccine mandates could be at an increased risk of experiencing an adverse event and called for screening antibody levels before vaccinating.
“In general, a standard of care is to screen before you vaccinate to assess whether one has immunity,” Dr. Noorchashm said. “Because COVID-19 vaccines have a side-effect profile that includes myocarditis and blood clots, even if infrequent, when you’re talking about vaccinating millions of people within a short span of time with an experimental vaccine, you have to be circumspect about that. At the very least, we need to have technology available to those who want to know whether they really need the vaccine.”
Despite these concerns, the FDA issued guidance in May 2021 “reminding the public and health care providers that results from currently authorized SARS-CoV-2 antibody tests should not be used to evaluate a person’s level of immunity or protection from COVID-19 at any time, and especially after the person received a COVID-19 vaccination.” Dr. Noorchashm found the FDA’s guidance concerning because allowing physicians to assess antibody levels before vaccination can prevent potentially severe adverse effects and ensures only those who need a vaccine are vaccinated. “A standard of care is to assess immunity by screening, so why not make that available to citizens? Why was there such a resistance to that?” Noorchashm asked. “The FDA provided no basis for its guidance recommending against screening for antibodies—which is indicative of previous SARS-CoV-2 infection. If the purpose is to make sure everyone is immune, that’s very different from making sure everyone gets vaccinated.”
According to the study in Clinical Infectious Diseases, vaccine manufacturers did not systematically assess individuals with a previous history of SARS-CoV-2 infection in pre-licensure trials of COVID-19 vaccines. Still, Dr. Noorchashm, who doesn’t dispute the efficacy of COVID-19 vaccines, said it would have been simple to do so.
He also noted what the study didn’t capture—those individuals who had already acquired natural immunity through previous infection but died as a result of vaccination and weren’t able to answer a questionnaire.
“I’m glad more research is being done on this, but it could have easily been done years ago during the pandemic,” Dr. Noorchashm said.
-END-
DNA Sequence In Pfizer COVID-19 Vaccine Could Spur New Lawsuits: Lawyers
Pfizer and its partner BioNTech could be open to lawsuits for including a DNA sequence in their COVID-19 vaccine.
The Public Readiness and Emergency Preparedness Act, known as the PREP Act, largely shields COVID-19 vaccine manufacturers from lawsuits, but companies can be sued for “willful misconduct,” which includes acts taken “intentionally to achieve a wrongful purpose.”
“I think what we have here is willful misconduct,” Mat Staver, chairman of Liberty Counsel, told The Epoch Times.
The Pfizer-BioNTech, in testing by outside scientists, was discovered to contain a Simian Virus 40 (SV40) DNA sequence despite the public never being told about the sequence.
Regulators in Canada and Europe have since acknowledged that the companies did not highlight the sequence and that they should have, although regulatory submissions did show the full DNA sequence of the vaccine plasmid.
The U.S. Food and Drug Administration (FDA) has refused to disclose whether the companies highlighted the sequence.
The FDA alleged no safety concerns have been identified from the residual DNA left behind by the SV40 sequence, though the agency provided no evidence on the matter.
“I can’t imagine that the FDA knew about this. There’s nothing in the FDA documents that would that I am aware of yet where they knew about this contaminant,” Mr. Staver said.
Under a declaration by then-Health Secretary Alex Azar in 2020, COVID-19 vaccines fall under the PREP Act. That act is aimed at allowing a quicker response to a health emergency and grants widespread immunity to manufacturers of vaccines and treatments, as well as administrators of the drugs.
The protection remains in place to this day thanks to extensions through both the Trump and Biden administrations.
The PREP Act has largely prevented lawsuits concerning the COVID-19 vaccines, but several recent developments could change that.
In August, a Michigan judge ruled that the drug manufacturer Gilead Sciences was not protected by the act in the case of a man who needed his leg amputated after receiving Gilead’s drug remdesivir, used as a treatment for COVID-19. The administered drug was said to be contaminated with glass particles.
The other is the revelation that Pfizer’s shot contains the SV40 sequence.
That could help plaintiffs “pierce that legal immunity that’s otherwise provided by the PREP Act,” Mr. Staver said.
He said he’s heard from personal injury firms and organizations who are exploring suits and that Liberty Counsel is considering bringing some as well in light of the developments.
Liberty Counsel has been involved in multiple major suits concerning COVID-19 vaccines, including some with military members who were denied in form letters requests for religious exemptions from the military’s COVID-19 vaccine mandate. The firm helped win orders blocking the military from discharging those members.
Pfizer and BioNTech have not returned requests for comment.
Warner Mendenhall, another American lawyer, said on a recent call that lawyers are talking about taking a different approach.
“The latest conversation that we’ve been talking about … is whether we have access right now, at least for some people, to prove battery,” he said.
Informed consent requires having information, “and nobody knew about the SV40,” he said.
Without such knowledge, vaccine recipients could not properly give consent, according to Mr. Mendenhall.
“And if you haven’t consented, and somebody does something to you without being informed and given proper consent, it’s called battery. So, there is some opening for battery cases. And we’re in discussions right now, and those may be able to be brought as as what are called mass torts or mass cases. So we’re working on that.”
Young adults who took 4 COVID vaccines are 256% more likely to die, especially from TURBO CANCERS
The Office for National Statistics (ONS), the official reporting department of the United Kingdom, quietly published a data set that shows appalling mortality rates in young adults who took four Wuhan coronavirus (COVID-19) vaccines. The ONS data tracks deaths by vaccination status from April 1, 2021, to May 31, 2023.
From January to May 2023, young adults aged 18 to 39 who were vaccinated four times up until that point were 256 percent more likely to die compared to their unvaccinated peers. In February 2023, the quadruple vaccinated were 318 percent more likely to die of any cause compared to unvaccinated people.
Cancer deaths skyrocket in young adults across the UK since COVID jab rollout
One of the most alarming trends is skyrocketing cancer rates among young people. Fatal cancer rates exploded among U.K. teenagers and young adults who were vaccinated with spike protein mRNA. The 2022 ONS data shows a sudden rise in cancer deaths for the 15 to 44 age group. These cancer rates are well above the norms established from 2010-2019. They include:
A 28 percent increase in fatal breast cancer rates in women.
A 35 percent and 12 percent rise in brain cancer deaths among men and women, respectively.
A 55 percent and 41 percent increase in colon cancer deaths among men and women, respectively.
A 60 percent and 55 percent spike in cancer death rates among men and women, respectively, in cancers “without site specification.”
A 60 percent and 80 percent rise in pancreatic cancer deaths among men and women, respectively.
A 120 percent and 35 percent jump in fatal melanomas among men and women, respectively.
“What clinicians have been seeing is very strange things,” said Risch during an interview for EpochTV. “For example, 25-year-olds with colon cancer, who don’t have family histories of the disease – that’s basically impossible along the known paradigm for how colon cancer works – and other long-latency cancers that they’re seeing in very young people.”
Risch and his colleagues are seeing young people suffer through re-manifestation of cancers that usually take many years to form after they had been surgically removed.
“Those are the initial signals that we’ve been seeing, and because these cancers have been occurring to people who were too young to get them, basically, compared to the normal way it works, they’ve been designated as turbo cancers,” Risch explained.
Mortality rates skyrocket for young people who took 4 COVID jabs
In January 2023, the mortality rate per 100,000 person-years was 31.1 for the unvaccinated cohort. For individuals who took one COVID jab, mortality rates were much higher – 53.3 per 100,000 person-years. For the quadruple vaccinated, the rate was a shocking 106 per 100,000 person-years.
The average mortality rate per 100,000 person years from January to May was 26.56 for unvaccinated young adults and 94.58 per 100,000 person years for quadruple vaccinated young adults – a stark contrast.
A similar pattern was observed for adults aged 40 to 49. For every single month since the beginning of 2023, adults in this age group who were vaccinated with one or four doses were significantly more likely to die than their unvaccinated peers. January 2023 mortality rates were the worst for individuals who received either one or four COVID jabs, with a mortality rate per 100,000 of 411.3 and 258.5, respectively. In contrast, the unvaccinated saw a mortality rate of just 144.5 per 100,000.
The unvaccinated, having withstood aggressive coercion, abuse, and threats to their lives and livelihoods, are faring the best over the long haul, even after putting up with the stress, the lies, and abuse for the past three years.
And you wonder why unvaccinated pilots are in demand ?
Sooner or later people will want unvaccinated employees in key positions … one reason why some lenders are asking for borrowers to be Insurance Policyholders is to contain risk. And why such things as Key Man Insurance is becoming more expensive.
*Imagine a vaccine “so safe” you have to be THREATENED to take it, and for a disease “so deadly” you have to be TESTED to know whether you have it
*Heart issues are skyrocketing in COVID-vaccinated military pilots, A US Navy whistleblower says – this is where the majority of commercial pilots come from. Vaccine injuries and deaths are the likely reasons for the current pilot shortage
*A United States Navy Medical Service Corps whistleblower recently disclosed information from the Department of Defense that reportedly shows a major increase in military pilots with heart-related issues after the implementation of the COVID-19 vaccination.
*Defense Department data shows a 937% increase in heart failure, a 152% increase in cardiomyopathy, a 69% increase in ischemic heart disease, a 62% increase in pulmonary heart disease, a 36% increase in hypertensive disease, and a 63% increase in other forms of heart disease compared to the five-year average before 2022.
*American Airlines Flight AA755 (Boeing 787) CDG-PHL, from Paris, France, to Philadelphia, PA, USA (on Nov.29, 2023) – the pilot had a seizure & collapsed! The pilot had a seizure that stiffened his legs & back, jamming his feet under the rudder pedals on a short final approach. The captain immediately took over flying duties and there was no loss of aircraft control. The relief pilot who was required to be on the flight deck during landing was able to remove the unconscious pilot from the seat. This is the 4th Pilot Incapacitation in 2 weeks!!! Recent Pilot incapacitations or deaths: Nov.26, 2023
*Ryanair Flight FR-3472 (LTN-RZE) from London Luton, UK to Rzeszow (Poland) – one of the pilots became incapacitated, the plane diverted to Krakow and landed safely. The aircraft was awaited by an ambulance. The pilot received medical assistance. Nov.20, 2023
*Air Transat Flight TS-186 (YYZ-PUJ) from Toronto, Canada to Punta Cana, Dominican Republic – pilot became incapacitated and was replaced by a pilot passenger Nov.16, 2023
*Air India Pilot Death – 37-year-old Air India Pilot Captain Himanil Kumar had cardiac arrest at Delhi’s Indira Gandhi International Airport during training Oct.30, 2023
*Jet2 Flight LS-1711 (MAN-DLM) Manchester (UK) to Dalaman (Turkey) – First officer became incapacitated, pilot diverted aircraft to Budapest, landed safely Oct.18, 2023 – Austrian Airlines Pilot Death – 43-year-old Christian Zimmerebner, AUA Austrian Airlines Pilot and member of Dorfgastein mountain rescue, died suddenly on Oct.18, 2023, due to “serious illness” Sep.24, 2023
*Austrian Airlines Flight OS-188 (STR-VIE) Stuttgart to Vienna The captain became incapacitated, the first officer took control of the aircraft Sep.23, 2023 – Alaska Airlines Pilot Death – 37-year-old Captain Eric McRae died suddenly in his hotel room during layover, was to fly that morning Sep.22, 2023
*Delta Flight DL-291 (CDG-LAX) Paris to Los Angeles – The Pilot became incapacitated, was taken to the cabin for care, the plane diverted to Minneapolis, pilot taken to hospital
end
ROBERT H TO US
Kim Dotcom on X: “New Zealand Covid-19 vaccination database admin turns whistleblower and reveals how many people died after taking bad batches of the Pfizer vaccine. This must be investigated. If this data of mass vaccine casualties is real there must be accountability. https://t.co/2QjkmRGJca” / X
Robert Hryniak
12:13 PM (4 minutes ago)
to
wow .. this is a crime against humanity
New Zealand Covid-19 vaccination database admin turns whistleblower and reveals how many people died after taking bad batches of the Pfizer vaccine. This must be investigated. If this data of mass vaccine casualties is real there must be accountability. pic.twitter.com/2QjkmRGJca
to frighten you to take deadly vaccine, have you on a booster treadmill, taking mRNA technology vaccine that was negative effectivenss day one, non-neutralizing, non-sterilizing, TRAPPED you!
That you would be taking booster after booster for the rest of your life, taking a vaccine that was ineffective, did not stop transmission, with rapid waning immunity, was deadly, subverting your immune system that was prior functional and protective (preventing the innate antibodies and natural killer cells from proper training (especially in young infants, children) and education as to pathogen (glycosilated), damaging P53 tumor suppressor system, BRCA 1, 2, toll-like receptors 7, 8 etc.), and driving TURBO rapid aggressive deadly cancers (lymphomas, glioblastomas, leukemias etc.). With devastating effects, the mRNA (in fact any of the vaccines or gene injections that result in the deadly spike glycoprotein) vaccine is incredibly harmful with bleeding, clotting, VITT, paralysis, dissecting aneurysms, brain bleeds, dying in your sleep, dying at dawn as you rise, dying suddenly etc. It was all a lie, a deadly lie and thank God now you understand and do not want the boosters; you know it is a waste of time, deadly and you are actually elevating your risk of infection with sub-variants when you take the boosters.
We were screwed by our governments and pharma, Pfizer, Moderna etc. and all the health officials at CDC, NIH, FDA, PHAC, SAGE, Health Canada who did this and we must ensure they are jailed once shown properly in legal courts with judges etc. Imprison and hang some! Once judges say hanging is in order! No matter who!
Commensal mycoplasma bacterial pneumonia? is this reported pneumonia in US same as mycoplasma in China? If not, what is causing uptick of cases in US? Is it due to the mRNA COVID vaccine? lockdowns?
Is this linked to the COVID virus in that there are legitimate cases of this pneumonia post COVID infection? Is this actually due to COVID in children? Is this to scare parents to vaccinate their kids given the uptake for COVID boosters was ZERO roughly. Or is this something cooked up by the Faucis of the world to really harm kids for this new COVID 2.0, given COVID 1.0 did not harm kids? COVID 1.0 spared our children. Is this really due to the harms from the lockdowns on the immune systems of children given the prolonged lockdowns weakened them? Did the response, the lunatic lockdown response really hurt our children long-term? Could this have some direct or indirect link to the mRNA vaccines? Did the COVID mRNA technology vaccines damage our children life-long? Is this the tip of the iceberg?
There are many questions and we need full reporting from our CDC, our health officials. There is something, if this reporting is true, that is common to all reporting nations thus far, that is causing this. What is it? Vaccine? Vaccine-damaged immune systems.
Texas Sues Pfizer for Conspiracy to Censor Vaccine CriticsTexas Attorney General Ken Paxton has announced his office is moving to hold Pfizer to account after uncovering evidence of a conspiracy to censor anyone who raised concerns about the pharmaceutical giant’s Covid mRNA shots.READ MORE
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Judge Chutkan Denies Trump’s Motion to Dismiss Jack Smith’s J6 IndictmentJudge Tanya Chutkan ruled on Friday that Donald Trump does not have immunity from criminal prosecution for conduct he made as president, denying the Republican’s request to dismiss the lawsuit alleging him of plotting to reverse his 2020 election defeat. Chutkan, a radical anti-Trump judge in Washington D.C., found no legal foundation for determining that former presidents of the United …READ THE FULL REPORT
‘Smoking Gun’ Email Shows Joe Biden Copied Hunter for Call with Ukraine ProsecutorA ‘smoking gun’ email shows that Hunter Biden was copied on an email discussing a phone call that would lead to the firing of the Ukrainian prosecutor who was investigating Burisma, who had hired Hunter for a lucrative board seat that many believe is proof of corrupt influence-peddling. Judicial Watch announced today that it had received five pages of records …READ THE FULL REPORTDemocratic Lawmaker Asks Republicans To Drop Support For TrumpREAD MORE…LATEST NEWS:President Trump: “We have all the votes we need”Read more…House Speaker Mike Johnson to call vote on Biden impeachment probe…Read more…Central Paris attack leaves one dead and one injuredRead more…Foreign Country Bans Smartmatic Voting Machines Firm to ‘Safeguard Integrity of Elections’Read more…One killed and another injured after ‘assailant shoutedRead more…FBI Raids Home Of Christian Family Over 15-Year-Old Son’s Posts In Private Group ChatRead more…Tucker Carlson Reacts to Elon Musk’s ‘GFY’ Moment in Most Tucker Way PossibleRead more…Dept. of VA Under Fire for Treating Illegal Aliens While Delaying Care for VeteransRead more…
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
Why Would Markets Believe Any Central Bank Assurances Ever Again
BY TYLER DURDEN
MONDAY, DEC 04, 2023 – 12:25 PM
By Benjamin Picton, Senior Macro Strategist at Rabobank
The Boy Who Cried Wolf
Jerome Powell set off another sharp fall in US bond yields on Friday by suggesting that “it would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance”. Huh? Obviously he intended this to be a hawkish statement, but the market laughed it off and duly bought bonds anyway. Clearly, traders don’t trust the Fed Chair to deliver on any further monetary tightening as there is virtually zero probability of further rate hikes priced into Fed Funds futures, and 5 cuts priced in by the end of 2024.
Indeed, speculation that the hiking cycle has already concluded gained momentum after Powell said that monetary policy is “well into restrictive territory”. This helped the 2-year yield closed up by 14bps, the 10-year up by 13bps and the S&P500 up by 0.59%.
The price action became even more interesting on the Asian open today. Gold prices hit a new all-time-high of $2,135/ounce and Bitcoin busted through the $40,000 level. What does this tell us? If asset classes variously disparaged as an “pet rock” and “digital magic beans” are surging, are we heading back to the ‘good times’ of the Covid bubble economy? Or are higher prices for zero-yield monetary alternatives a signifier of the market’s (lack of) confidence in the US Dollar?
There is some argument for the latter. The DXY index has been under substantial pressure as rate cuts get pulled forward along the yield curve and signs of deflation emerge in major economies. The WSJ today reports on the deflationary trend, and points out that it provides a tailwind for central banks in their crusade to achieve their price stability targets, even as services price inflation remains stubbornly high.
No doubt that’s true, but how do you make sure you have just the right amount of deflation in just the right places? Last week’s announcement of “voluntary” OPEC+ production cuts of a further 1 million barrels per day have done nothing to staunch the weakness in crude oil prices, even as the unit of account that crude is denominated in (the USD) is falling fast. What does that tell us about the state of economic activity? Maybe the deflation is further along than popularly acknowledged.
If the WSJ judges a little bit of goods deflation to be no bad thing, they’re in good company. In 1888 the celebrated Cambridge economist Alfred Marshall (he of the Marshallian Demand) told a Royal Commission that “the evils resulting from a fall in prices are commonly overrated. I think that it is not clearly established that a rise in prices is to be preferred to a fall.”
Obviously, the modern view is that a rise in prices IS to be preferred to a fall. This is the orthodoxy among central bankers, who have long seen lower consumer prices as an existential threat to the economy. This thinking has become so ingrained since the adoption of inflation targeting in the early 1990s that the “rate cuts soon” meme that we sometimes poke fun at is really just a reflection of the mathy reaction function of your garden variety inflation-targeting central bank. This is the reason why bets on rate cuts are being brought forward, even as central bankers protest their seriousness on “higher for longer”.
There is an element of ‘The Boy Who Cried Wolf’ here. Why would markets believe central bank assurances of hawkish intentions when they have never delivered hawkish rates policy at any point since Long Term Capital Management blew up in the late 1990s? Have they updated their models, or revised their view of how the economy works?
Of course, the answer is no. After the three years we’ve just had (and the 12 years that preceded it) it might make sense to ask the question whether price stability mandates have been a good thing. In fact, the recent review of the Reserve Bank of Australia did ask this question, and concluded perfunctorily with a “yes, they have”. So, why did we have the review again?
In reality, few mainstream economists seriously question the usefulness of inflation targeting regimes. Despite suggestions that financial crises becoming more frequent, inflation targeting is treated as infallible, and widely accepted as best practice the world over. This was not always the case. The Fed itself did not have a formal inflation target until Ben Bernanke introduced one 2012, and in 1937 the Australian Monetary and Banking Commission had this to say on the matter:
“Price fluctuations are little more than symptoms, and the monetary authorities should not seek to regulate credit with regard to a price index.”
The implication here is that ‘price stability’ mandates are not some modern intellectual breakthrough cooked up in New Zealand in the 1990s, but an old idea that was repeatedly rejected in the past. Why was it rejected? Because, to paraphrase Mervyn King, it can result in measuring things that are not important and failing to measure the things that are important.
There is an argument to be made that capitalism breeds productive efficiency, which lowers unit costs over time. This implies a natural deflationary bias. If you set policy so that prices will grow at 2% p.a. in the face of this, it could be argued that policy rates will always be (structurally) too low, and therefore encourage speculation and the formation of credit bubbles. (Bitcoin is at $40,700 now!)
So, is it a coincidence that inflation targeting was adopted in the 1990s, asset price bubbles began in the 1990s, and policy rates have been marching lower ever since the 1990s? Rate cuts soon!
END
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
VENEZUELA/GUYANA
Latin America On Edge As Venezuela’s Maduro Holds Referendum Whether To Invade Oil-Rich Neighbor Guyana
FRIDAY, DEC 01, 2023 – 09:10 PM
In a move that has prompted many to wonder which is the bigger banana republic, Venezuela or the US, Joe Biden’s new BFF, Venezuelan dictator Nicolas Maduro (who has promised to export a few barrels of oil to the US president – now that draining the SPR is no longer an option – to keep gas prices low ahead of the 2024 presidential election in exchange for sanction relaxation and defacto recognition by the White House that Maduro is the dictatorially “democratically” elected president of Venezuela, making a mockery of a decade of Western virtue-signaling sanctions), on Sunday Caracas is set to hold a referendum among Venezuelans on annexing (i.e., invading and taking over) a whopping 160,000 sq km of extremely oil-rich land in neighbouring Guyana.
Why now? Why only now when Caracas has for more than 200 years claimed rights over Essequibo, a vast swath of the territory Guyana? Simple: because as we said several days ago, it was only a few months ago that Maduro realized he has leverage over the US president of the “most powerful nation in the world” and get away with anything… even invading a sovereign nation.
Of course, (oil rich but extraction poor) Venezuela’s heightened interest at this expanse of Amazon jungle springs in part from its resource riches, including offshore oil deposits that have since 2019 made Guyana the world’s fastest-growing economy. Another reason lies closer to home for Venezuela’s strongman leader Nicolás Maduro: elections next year. But at the end of the day, had Biden not signed a smoky back-room deal with Maduro, admitting he needs the dictator’s oil in exchange for what appears to be a diplomatic blank check, none of this would have happened. Instead, we are now facing actual war between two nations which between them have some of the largest oil deposits in the world.
As the FT notes, the potential for Venezuela, an ally of Russia, to follow the referendum with an incursion into western-leaning Guyana has raised concerns in the region. Brazil this week said it had increased the military presence in its northern areas, which border both countries.
“On Sunday December 3, we will respond to the provocations of Exxon, the US Southern Command, and the president of Guyana with a people’s vote,” Maduro said during a broadcast of his weekly television program on November 20.
Guyana correctly fears that the referendum is be a pretext for a land grab, and has appealed to the International Court of Justice (ICJ) to halt the referendum — a move that Caracas has rejected, though its claim to the land is largely internationally unrecognised.
It isn’t: on Friday, judges at the World Court on Friday ordered Venezuela to refrain from taking any action that would alter the situation on the ground. The court did not expressly forbid Venezuela to hold a planned Dec. 3 referendum over its rights to the region around the Esequibo river, the subject of the long-running border dispute, as Guyana has requested. However, judges at the International Court of Justice – as the World Court is formally known – made clear that any concrete action to alter the status quo should be stopped.
“The court observes that the situation that currently prevails in the territory in dispute is that Guyana administers and exercises control over that area,” presiding judge Joan Donoghue said. “Venezuela must refrain from taking any action which would modify that situation,” she added
“This is a textbook example of annexation,” Paul Reichler, a US lawyer representing Guyana before the ICJ, said in The Hague last month, claiming that Venezuela was preparing a military build-up in the Essequibo region in case it wished to enforce the outcome of the referendum.
For its part, Caracas said that its troops were carrying out anti-illegal mining operations near the territory, a sparsely populated region that is home to about 200,000 Guyanese who speak English and indigenous languages, though little Spanish.
Meanwhile in pro-Maduro Brazil, local media reported that a senator for the state of Roraima said the defense minister had agreed to his requests for military reinforcements in the municipality of Pacaraima, a strategic location for access to Essequibo. The defence ministry said: “Defence actions have been intensified in the northern border region of the country, promoting a greater military presence.” It wasn’t immediately clear if Brazil’s socialist leader Lula is planning on aiding his comrade Maduro in invading and pillaging Guyana’s oil, but it would be par for the socialist course, especially when the US president is implicitly approving your actions.
That said, analysts question whether Venezuela will genuinely seek to annex the territory. They argue the referendum exercise is aimed at bolstering Maduro’s domestic support ahead of elections that Venezuela agreed to hold in exchange for relief from debilitating sanctions imposed by the US.
“Political calculations are driving Maduro to escalate tensions in an attempt to stir up nationalist sentiment, but those same political calculations also limit his military options,” said Theodore Kahn, director for the Andean region at the consultancy Control Risks.
“An actual invasion would shut the door to further negotiations with the US and force the Biden administration to reimpose oil sector sanctions.”
Come to think of it, that’s a joke of a deterrent, considering Maduro had no problem living with sanctions for years. If Maduro were to get his grubby hands on some of the most state of the art oil facilities in the world – as a reminder, Guyana is where Exxon has invested billions to extract much of the country’s oil- he would do so in a heartbeat.
Still, Maduro needs to mobilise party loyalists to defend two decades of socialist rule during which his party and its predecessors have turned Caracas into an international pariah, shattered its state-run oil industry, fueled mass emigration and empowered violent gangs.
Luis Vicente León, who runs Caracas-based research company Datanálisis, said the government was using the referendum to reduce the perceived impact of a pre-election primary held by the opposition in October despite government disapproval. The primary drew 2.4mn voters to the polls, well above expectations.
“It’s also a test of the government’s capacity to engage its political machinery and mobilise voters,” León said. “Alongside that, it pressures the opposition to take a position on a sensitive subject and gives [Maduro] a potential excuse to declare a state of emergency and avoid the election altogether.”
Maduro, in office since his firebrand predecessor Hugo Chávez died of cancer in 2013, has yet to officially announce his candidacy in the upcoming elections. However, he is widely expected to run despite approval ratings of just 20 per cent, according to Datanálisis, amid an economic and humanitarian crisis.
Hilarious, Maduro’s re-election in 2018 was regarded by the US and its allies as fraudulent, but so much has changed since then, well not that much: just Biden becoming president and folding to Maduro’s demands in exchange for oil. Seeking to entice him into allowing a “free and fair” election this time (please don’t laugh) the US last month relaxed sanctions on oil, gold and secondary financial markets for six months. The move followed a deal between Maduro and a US-backed faction of the opposition to resume political talks.
Yet hopes of a political opening were tempered when just days later, the government-backed Supreme Justice Tribunal suspended the results of the opposition primary, which was convincingly won by María Corina Machado.
Machado, a pro-market former lawmaker who once called for external military intervention in Venezuela, is banned from holding office at present, something she claims will not stop her from running.
While the government and the fractious opposition agree that the Essequibo region is part of Venezuela’s territory, Machado has said the referendum is a “distraction” that must be suspended. She advocates settling the dispute at the ICJ.
The referendum will put five questions to Venezuela’s public. One seeks approval for granting all residents of the Essequibo region Venezuelan citizenship and creating a new state within Venezuela, while another asks voters if they recognise the jurisdiction of the ICJ to rule on the matter. Both would likely lead to a military invasion.
In April, the ICJ ruled that it had jurisdiction to decide on the territorial dispute, following a request from Guyana in 2018 to confirm the border that was drawn in arbitration in 1899 between Venezuela and what was then British Guiana, a colony. A final ruling could take years, however.
“It is not an exaggeration to describe the current threat to Guyana as existential and the need for provisional measures as urgent,” Carl Greenidge, who leads Guyana’s delegation at the ICJ, told judges in The Hague with reference to the referendum.
A specialised US army delegation visited Guyana this week, and discussed “processes to enhance both countries’ military readiness and capabilities to respond to security threats,” said the US embassy in Georgetown. Bharrat Jagdeo, Guyana’s vice-president, said last week that “all the options available for us to defend our country will be pursued. Every option.”
Caracas has long held that the Essequibo river to the region’s east is its natural border, as it was during Spanish rule before 1899. But Venezuela’s interest in pressing that claim has fluctuated. In 2004, while seeking international support for his Bolivarian revolution, Chávez said in Guyana that Georgetown had the right to grant concessions in the Essequibo territory.
But since 2015, when ExxonMobil announced it had found oil beneath the waters off the Essequibo coast in the Stabroek Block, Caracas has adopted a more bellicose tone (well, of course).
In October this year, the US major — which leads a consortium producing oil in the South American country — made another find in the waters claimed by Venezuela. Drilling bids were awarded to companies including Exxon, French major Total, and local company Sispro. Francisco Monaldi, a Latin America energy expert at Rice University in Houston, said: “So far Exxon’s wells and discoveries are in the area north of Guyana’s undisputed land territory, but the awarded oil blocks do go into the disputed waters.”
Oil is transforming the Guyanese economy, which grew 62 per cent last year, according to the IMF, and is projected to expand another 37 per cent this year. With around 11bn barrels in reserves and a population of just 800,000, the country has the largest amount of oil per capita in the world.
Meanwhile, Venezuela has the world’s largest proven reserves, and in its heyday at the turn of the century pumped about 3mn barrels per day, but mismanagement, corruption and sanctions led production to collapse. In September this year, it pumped 735,000 bpd.
Exxon said that “border issues are for governments and appropriate international organisations to address”.
Still, we wouldn’t be surprised if Darren Woods is quietly putting together a mercenary army to quietly take out Maduro. It should cost him at most 2-3 days worth of oil extraction revenues.
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0864 DOWN 0.0006
USA/ YEN 146.62 DOWN .139 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2674 DOWN .0025
USA/CAN DOLLAR: 1.3536 DOWN 10 (CDN DOLLAR DOWN 50 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 8.72 PTS OR 0.29%
Hang Seng CLOSED DOWN 184.75 PTS OR 1.09%
AUSTRALIA CLOSED UP .70% // EUROPEAN BOURSE: MOSTLY RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY RED
2/ CHINESE BOURSES / :Hang SENG DOWN 184.75 PTS OR 1,09%
/SHANGHAI CLOSED DOWN 8.72 PTS OR 0.29%
AUSTRALIA BOURSE CLOSED UP .70%
(Nikkei (Japan) CLOSED DOWN 200.24 PTS OR 0.60%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2068.20
silver:$25.17
USA dollar index early MONDAY morning: 103.31 UP 11 BASIS POINTS FROM FRIDAY’s CLOSE.
…within the next 8 hours, spot gold prices had dropped $115 from its intraday highs…
Source: Bloomberg
…that is the 6th biggest absolute $ intraday drop in the history of spot gold trading(9/23/11 & 9/26/11 (SNB intervention as gold soared near $2,000), 04/15/13 (taper tantrum), 3/16/20 (COVID lockdowns), 08/11/20 (vaccines))…
Source: Bloomberg
Bonds dumped most of Friday’s pump with yields up across the curve. The short-end underperformed on the day(2Y +11bps, 30Y +4bps)…
Source: Bloomberg
2Y yields are up around 14bps off Friday’s lows…
Source: Bloomberg
Huge divergences in equity-land as long-duration (tech) underperformed as yields rose but Small Caps soared (short-squeeze) with The Dow scarmbling to unch on the day and S&P weak…
Unprofitable Tech stocks continue to outperform the Magnificent 7, with the latter now back at support levels seen in the early summer relative to the unprofitable names…
Source: Bloomberg
The dollar ripped higher today (no manipulation of gold of course) for its best day in almost two months…
Source: Bloomberg
Oil prices were lower on the day (as the dollar soared) with WTI finding support around $73 and chopping around there all day…
Finally, after spending July thru Oct starting to recouple with liquidity’s reality, US equities exploded divergently in November…
Source: Bloomberg
What happens first – major central bank liquidity expansion… or a crash in stocks?
EARLY MORNING TRADING//
TUCKER CARLSON
II USA DATA
US Factory Orders Plunged Most Since COVID Lockdowns In October
MONDAY, DEC 04, 2023 – 10:11 AM
The chaotic time series of US Factory Orders was expected to swing to a big loss (-3.00% MoM) in October (data released today) after a big jump in September and big drop in July (and a big jump in June!).
However, factory orders tumbled even more than expected, down 3.6% MoM – the biggest drop since the COVID lockdowns (April 2020). September was also revised lower (making October’s decline even worse) from +2.8% MoM to +2.3% MoM…
Source: Bloomberg
The big monthly decline and revisions dragged orders down 2.1% YoY (the biggest drop since Sept 2020).
Core factory orders also dropped (-1.2% Mom), leaving them down 2.2% YoY – the eight month in a row of annual declines…
Source: Bloomberg
The final Durable Goods Orders data for October confirmed the preliminary print plunge down 5.4% MoM.
Finally, we note that it could have been a lot worse as Defense spending shot up 24.7% MoM (as non-defense dropped 15.8% MoM0…
All hail the Military-Industrial Complex.
III) USA ECONOMIC STORIES
END
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ANTISEMITISM
END
FREIGHT ISSUES/USA
UPS To Hike US Diesel Surcharges Under Adjusted Formula
UPS Inc. has raised its fuel surcharge on its U.S. ground parcel and SurePost delivery services by 50 basis points in what is believed to be the first time in more than 18 months that UPS has changed its formula to reflect applicable surcharges on those services.
Effective Monday, UPS will assess a 15.25% fuel levy on all shipments moving under those domestic services. The surcharge applies to the base rates and to any add-on charges known as accessorials.
The last time UPS changed its fuel surcharge table was in April 2022 during a cycle when weekly diesel prices set by the Department of Energy’s Energy Information Administration (EIA) frequently exceeded $5 a gallon. Fuel prices spiked along with the price of oil amid fears that Russia’s invasion of Ukraine would disrupt commodity supplies.
UPS’ most recent move, however, comes amid an ongoing downward move in diesel pump prices. The weekly on-highway diesel price set on Monday by the EIA stood at $4.14 a gallon. That is 15 cents a gallon below the price set two weeks prior and nearly $1 a gallon below the average pump price at this time a year ago. UPS and rival FedEx Corp. adjust their prices with a one-week lag from the most recent EIA price.
By contrast, surcharge levels will decline for U.S. domestic air, international import and export services. They will rise for the carrier’s international import and export ground services. Air shipment surcharges are set to the EIA’s jet fuel index.
UPS was unavailable for comment at press time.
UPS and FedEx index their diesel levies to a band of prices established by the EIA. UPS has in the past adjusted its ground-delivery surcharges 25 basis points for every 12 cents-a-gallon move in the EIA diesel price. FedEx Ground, FedEx’s ground delivery unit, adjusts its surcharges for every 9 cents-a-gallon move in the EIA diesel price.
For example, UPS’ upcoming 15.25% levy is based on an EIA-established price that is at least $4.10 a gallon but less than $4.22 a gallon. Currently, the levy is 14.75% for prices falling within that band.
UPS’ action will bring its levy on U.S. ground shipments in line with FedEx, which currently assesses a 15.25% surcharge within the same pricing band. Nate Skiver, founder of parcel consultancy LPF Spend Management LLC, said one of UPS’ goals is to achieve parity with FedEx’s surcharge pricing. The other is to boost revenue per package, which has taken a hit due to pricing pressure and changes in volume mix.
“It also helps to set a higher floor on the fuel table, which is now relevant with diesel prices moderating,” Skiver said in a LinkedIn message.
UPS, FedEx and other parcel delivery carriers have wide latitude as to when they adjust diesel and jet fuel surcharges. In recent years, surcharges have remained elevated despite world price fluctuations that have headed south. Analysts who follow the fuel surcharge market have said that surcharge levels stay higher long after prices have dropped, thus allowing the carriers to reap additional revenue on each transaction.
Historically, small to mid-size shipper s have found it difficult to reduce fuel surcharges through negotiations, while bigger shippers have to tender certain volume minimums for the carriers to consider reducing the levies. However, in what has turned into an all-out price war as carriers aggressively bid for business, the carriers have let it be known that fuel surcharge discounts are very much on the table.
Domestic ground parcels are UPS’ largest business. SurePost is the name for a service provided in conjunction with the U.S. Postal Service in which UPS picks up and aggregates low-value, nonurgent parcels and inducts them deep into the postal infrastructure for last-mile delivery to residences.
END
VICTOR DAVIS HANSON
end
USA// COVID//VACCINE/
end
SWAMP STORIES
Hunter Biden Sent ‘Direct Monthly Payments’ To Joe Via Account Paid From ‘China And Other Shady Corners Of The World’
BY TYLER DURDEN
MONDAY, DEC 04, 2023 – 02:40 PM
Hunter Biden sent monthly payments to his father out of a bank account he used to receive money from Chinese business associates, according to newly released bank records revealed by House Oversight Committee Chairman James Comer, who shared a Monday video on X detailing redacted bank transfers to Joe Biden from Hunter’s Owasco P.C. bank account.
“Today, the House Oversight Committee is releasing subpoenaed bank records that show Hunter Biden’s business entity, Owasco PC, made direct monthly payments to Joe Biden. This wasn’t a payment from Hunter Biden’s personal account but an account for his corporation that received payments from China and other shady corners of the world,” Comer says in the video, adding that the payments began in September 2018 – six months before Biden announced his candidacy in the 2020 election.
“Payments from Hunter’s business entity to Joe Biden are now part of a pattern revealing Joe Biden knew about, participated in and benefited from his family’s influence peddling schemes.”
“Payments to Joe Biden from Hunter’s Owasco PC corporate account are part of a pattern revealing Joe Biden knew about, participated in, and benefited from his family’s influence peddling schemes. As the Bidens received millions from foreign nationals and companies in China, Russia, Ukraine, Romania, and Kazakhstan, Joe Biden dined with his family’s foreign associates, spoke to them by speakerphone, had coffee, attended meetings, and ultimately received payments that were funded by his family’s business dealings,” reads an accompanying release from the Oversight Committee.
Hunter and his uncle James’ personal business records were subpoenaed by Comer in September following the first impeachment hearing for President Biden.
A Chinese firm sent $5 million to Hunter Biden’s firm Hudson West III in August 2017, shortly after he established the business entity with a Chinese business associate. Hunter Biden proceeded to wire $400,000 to his Owasco P.C. account and over $130,000 to another one of his corporate accounts, according to the bank records.
Next, Hunter Biden provided $150,000 to the Lion Hall Group, James Biden and his wife Sara Biden’s business account. James Biden and Sara Biden put $50,000 into their personal account and then sent a $40,000 check to Joe Biden, the bank records show. -Daily Caller
And of course the big (rhetorical) question – what services were Hunter and pals providing for such exorbitant sums?
Hunter and James will appear later this month for closed-door depositions.
END
THE KING REPORT
he King Report December 4, 2023 Issue 7131
Independent View of the News
Goldman:November saw the biggest easing in US financial conditions(Goldman Financial Conditions Index) on record, the equivalent of almost 4 rate cutshttps://t.co/sXjtFYJMoz
Remember when Powell and Fed officials proclaimed that the bond market decline did the tightening for the Fed, so it didn’t have to hike rates? Good times. If the Fed were consistent and honest it must now alert the markets that the great easing in financial conditions in November could foment rate hikes.
FUTURES TRADERS PRICE IN SUB-4% FED POLICY RATE BY 2024 YEAR END – BBG (Fed Funds effective rate was 5.33% on Friday)
@Lvieweconomics: ISM manufacturing now in contraction for 15 months straight, the longest stretch in 40 years. https://t.co/HcUPozwBMP
Powell appeared on Friday at 11:00 ET. Here are highlights from his ‘fireside chat.’Full effects of tightening likely not yet feltCommitted to stay restrictive until inflation on path to 2%Premature to speculate on when policy may easeFed is “prepared to tighten policy further if it becomes appropriate to do so.”FOMC moving carefully as risks becoming more balancedRisks of increasing too much or too little are ‘becoming more balanced’Fed policy rate is “well into restrictive territory” The usual suspects quickly labeled Powell’s remarks as being dovish. Like it has done for the past few years, the market ignored Powell’s hawkish remarks because it conflicted with its easy money fantasy.
Fed’s Powell Signals Officials Are Likely Done Raising Rates – DJ 11:00 ET Powell: ‘Premature to Conclude with Confidence’ that Increases Are Over – DJ 11:00 ET.
Yes, Virginia, Dow Jones (WSJ) issued contradictory statements almost simultaneously!
ESZs traded negative and sideways from the Nikkei opening until they surged at 3:27 ET. After hitting a daily high of 4584.50 at 4:33 ET, ESZs sank to a daily low of 4462.50 at 9:31 ET. Conditioned dip buying and buying for Powell 11:00 ET speech appeared. ESZs zoomed to 4582.25 at 10:02 ET.
ESZs then sank on a stagflationary November ISM report. November ISM Manufacturing was unchanged at 46.7; but 47.8 was expected. Prices Paid jumped to 49.9 from 45.1, 46.0 was consensus. Employment fell to 45.8 from 46.8; 47.6 was consensus. New Orders rose to 48.3 from 45.5.
ESZs hit 4564.00 at 10:30 ET. It was time to get long for Powell’s 11:00 ‘fireside chat.’ ESZs jumped to 4575.50 at 10:53 ET. They then sank to 4564.75 at 11:01 ET because Powell’s prepared remarks were more hawkish than expected. Then, the usual suspects started the spin campaign to paint Powell’s speech as dovish. ESZs soared to a daily high of 4594.00 at 11:44 ET; the DJTA hit +355.08. But the NY Fang+ Index was -59.47. ESZs hit 4603.50 at 12:33 ET and then rolled over. ESZs hit 4593.00 at 14:09 ET and then bounced to 4602.25 at 15:00 ET. ESZs plodding rallied to 4602.50 at 15:56 ET.
Spot Gold soared and hit a high of 2075.41. Most people claim that this is an all-time high. Per Bloomberg, gold hit its all-time high of 2075.47 on 8/7/20.
@alphacharts: Gold: 1. Made a 3yr breakout to new ATHs. 2. Bottomed in Oct ahead of TLT SPX. 3. Rallied more than TLT (Bonds ETF) SPX from Oct lows. 4. NOBODY CARES.
“Gold is money. Everything else is credit.” – JP Morgan, 1912
Positive aspects of previous session Stocks rallied sharply on the delusion that Powell issued dovish comments USHs soared as much as 1 31/32.
Negative aspects of previous session Gold soared and broke out to the upside
Ambiguous aspects of previous session How much did the historic November rally appropriate from the usual December rally?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open:Down; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4582.91 Previous session S&P 500 Index High/Low: 4599.39; 4554.71
3 Israeli hostages confirmed dead, including a grandfather and a mother of four – Fox News
US (Team Obama) poised to impose travel bans on Israelis engaging in violence, official tells AP The Biden administration is preparing to impose travel bans on Israeli settlers accused of carrying out attacks on Palestinians in the West Bank, the Associated Press reported…Blinken previously raised concerns over Israeli settler violence at a news conference on Thursday after his meetings in Jerusalem and Tel Aviv… https://www.foxnews.com/live-news/december-1-israel-hamas-war?
@sentdefender: Sources have told Haaretz that almost every Arab Leader during “Behind-the-Scenes Talks” with Israeli officials… have told them not to End the War with Hamas until the terrorist organization is totally destroyed with many seeing Hamas as a domestic enemy.
Israel recalls negotiators after reaching ‘dead end’ in Qatar talks – CNN “The Hamas terror organization did not fulfil its part in the agreement, which included the return of all women and children held hostage, in accordance with a list sent to Hamas and approved by them,” the statement said. The negotiators were from Israel’s Mossad intelligence agency and the statement said it was the head of the agency, David Barnea, who recalled the team. The truce between Israel and Hamas collapsed Friday morning… https://www.msn.com/en-us/news/world/israel-recalls-negotiators-after-reaching-dead-end-in-qatar-talks/ar-AA1kTaCN
IDF discovers Gaza rockets, missiles hidden under UNRWA (UN Relief & Work Agency) equipment The Brigade also raided a mosque used by the Palestinian Islamic Jihad terrorist group as an operational headquarters… https://www.jpost.com/arab-israeli-conflict/gaza-news/article-776170
@DrEliDavid: Head of Israel Security Agency (Shin Bet): “We will eliminate Hamas leaders wherever they are, including in Turkey and Qatar.”
UK Health Security Head Admits Use of Face Masks Was Never ‘Evidence Based’ Professor Dame Jenny Harries, now the head of the UK Health Security Agency, explained that the policy wasn’t based on scientific reality and had the effect of instilling a “false sense of security,” convincing people that they would reduce their risk of becoming infected if they wore a mask… She also told the BBC that masks could potentially “trap the virus” and help it spread… https://modernity.news/2023/12/01/video-uk-health-security-head-admits-use-of-face-masks-was-never-evidence-based/
Kissinger’s Last Advice on China, Russia Worth Heeding If it proves impossible for the U.S. to co-exist with China and avoid an all-out war, “we have to be militarily strong enough to sustain the failure.”… He also said the West bore some responsibility for this catastrophe by dangling the possibility of NATO membership for Ukraine, which enraged Putin, while failing to properly defend Ukraine. Kissinger came out in favor of Ukraine joining NATO early this year after opposing it a year earlier because he concluded that Ukraine could never be neutral. Kissinger decided that NATO membership for Ukraine after the conclusion of the war will be essential for stability in Europe… Despite recent highly publicized efforts by China and Russia to demonstrate their new cooperation and friendship, Kissinger doubts China and Russia can ever work well together because “they have an instinctive distrust of one another” and are not natural allies… https://www.newsmax.com/fred-fleitz/shuttle-diplomacy/2023/11/30/id/1144251/
Walmart pulled its advertising from X. Reportedly, WMT CEO Penner is Hunter’s BFF & ex-classmate.
Daily Mail: Joe Biden considered REPUBLICAN Ohio governor John Kasich as his running mate in 2020 after son Hunter and top donor and Walmart chairman Greg Penner devised plan for a bipartisan ticket to ‘repair’ divided nation (Penner and Hunter graduated from Georgetown in 1992) Text messages, emails, and audio recordings from Hunter Biden’s abandoned laptop show his father Joe considered running on a bipartisan presidential ticket(Kasich excoriated Trump regularly) Penner, 52, who is married to Walmart heiress Carrie Walton, has donated over $640,000 to political campaigns… since 1999… Hunter boasted of his relationship with Penner to Jeff Cooper, his business partner in another company E-Plata and a longtime friend and political donor of Joe’s… https://www.dailymail.co.uk/news/article-10961071/President-Biden-considered-John-Kasich-Republican-running-mate-2020.html
Penner is co-owner and CEO of the Denver Broncos of the National Football League. Good times!
Increasingly, the tight connection between big business and government because more evident.
President Biden @POTUS: Inflation was 0% last month – and our economy grew by more than 5% last quarter. Bidenomics. (Lying without consequence for decades yields bigger lies!)
Never Mind Bogus Measures of Inflation–Purchasing Power Is What Counts, and It’s Decaying Measuring purchasing power eliminates these distortions, which is why nobody measures purchasing power: once we calculate costs in terms of hours worked, we recognize that a much larger percentage of our labor / earnings is devoted to paying for essentials… https://www.oftwominds.com/blognov23/inflation11-23.html
@charliebilello: Bears in the AAII sentiment poll moved from over 50% to under 20% during November. This is the lowest bearish % since Jan 2018 (which followed 2017’s record 12 straight up months). https://twitter.com/charliebilello/status/1730640669591384162
Global rice markets are in crisis amid ‘artificial’ shortage India’s export ban on rice is reverberating through global rice markets… Rice prices spiked 15% to 20%, hitting their highest in almost 12 years… https://t.co/qS4eKTvVuT
US warship and commercial ships ‘under attack’ amid escalating war tensionshttps://t.co/mSvzfvspkd
@FixTheFed: October 2023: Fed Chair Powell held private calls/mtgs with CEOs for Goldman Sachs, JP Morgan, Bank of America and Morgan Stanley; one *during* Fed comm’s blackout (rules for thee, not for me) Did JPow and JYell give secret go-ahead to pump stocks in massive November rally? https://twitter.com/FixTheFed/status/1731457660308902127
Today – Gold soared on Sunday. Equity sentiment remains extraordinarily bullish despite the advent of warnings from Street analysts that stocks are historically overbought. So, traders will eagerly play for the Monday Rally. There can no longer be help for bulls by Fed leftists. The Fed is in a blackout period.
Spot Gold hit 2135.39; Feb Gold hit +62.60. ESZs are -5.50; Bitcoin is 40,208 and Feb AU is +22.00 at 20:08 ET. The inflation-sensitive markets are going ‘all in’ on Fed leftists’ rate cut braying! PS – Be alert for gold suppression! It appears to have commenced on Sunday night!
Expected economic data: Oct Factory Orders -3.0% m/m; Oct Durable Goods -5.4% m/m; Gold should force the Fed to hike or at the least go hawkish. If the Fed cuts rates, gold goes to the moon, Alice!
S&P 500 Index 50-day MA: 4360; 100-day MA: 4420; 150-day MA: 4370; 200-day MA: 4286 DJIA 50-day MA: 34,008; 100-day MA: 34,433; 150-day MA: 34,181; 200-day MA: 33,902 (Green is positive slope; Red is negative slope)
S&P 500 Index – Trender trading model and MACD for key time frames Monthly: Trender and MACD are positive – a close below 3919.56 triggers a sell signal Weekly: Trender and MACD are positive – a close below 4281.91 triggers a sell signal Daily: Trender and MACD are positive – a close below 4480.62 triggers a sell signal Hourly: Trender and MACD are positive – a close below 4563.90 triggers a sell signal
Jeffrey Epstein flight logs denied by Democrat-led Senate Judiciary Committee, (GOP Sen.) Blackburn says (Who are Dems protecting?) https://t.co/Sos1vInicY
A hyper-preened CA Governor Newsome debated FL Governor DeSantis on Thursday night.
Newsom camp: Hannity, DeSantis cheated. They dispute the charges. A DeSantis aide said California first partner Jennifer Siebel Newsom was the one who stepped in and ended the debate on her husband’s behalf after Hannity invited the two governors to go deeper into overtime. A second person on the ground confirmed that. “Gavin Newsom got beat so badly last night his wife literally had to throw in the towel for him. It was embarrassing,” DeSantis spokesperson Andrew Romeo said… The other document DeSantis flashed to great fanfare was a map of Newsom’s hometown of San Francisco covered in brown splotches that the Florida governor said represented places where human feces were found on the city’s streets… A Fox News spokesperson said “the word ‘props’ was never discussed ahead of the debate, not one time… https://www.msn.com/en-us/news/us/newsom-camp-hannity-desantis-cheated-they-dispute-the-charges/ar-AA1kQKfG
DeSantis spokeswoman @ChristinaPushaw: Gotta give her credit. The First Partner of California protects her husband far more than Jill Biden protects Joe.
Newsom had a gall to state that more people were moving to California than Florida. Facts easily rebutted this whopper. Then, DeSantis TKOed Newsome with this: “So I was talking to a fella who had made the move from California to Florida. And he was telling me that Florida is much better governed, safer, has a better budget, lower taxes, all this stuff, and he’s really happy with the quality of life. And then he paused and said, ‘You know, by the way, I’m Gavin Newsom’s father-in-law.‘ So we do count Gavin’s in-laws as some of the people that have fled California and come to the state of Florida.” https://twitter.com/MaryMargOlohan/status/1730410444244820059
@NvrBackDown24: Ron DeSantis: Joe Biden is “in decline. Yes it’s a danger to the country. He has no business running for president. And Gavin Newsom agrees with that, he won’t say that, but that’s why he’s running his shadow campaign” for president.https://t.co/vbnaqarmK3
@MaryMargOlohan: DeSantis fires back at Newsom over the border crisis: “I don’t mind Gavin lying to me. But I do mind him lying to you…This is a slick, slippery politician whose state is failing, people are leaving his state, and he’s trying to run interference for his failure.” https://t.co/hX8E9cHRx0
“Presidential” DeSantis Dominates Debate with “Glib” Newsom But, “Watch Out, He’s Coming” It was amusing to see how DeSantis was armed with the facts, and Newsom was so impotent that he simply refused to answer question after question, instead choosing to launch into generic talking points, avoiding the substance of the issues being discussed. Time after time, he was presented with raw data – facts comparing California and Florida – on migration, crime, jobs, COVID, etc., and Newsom’s response each time was to simply deny the facts and make up his own story…he made it clear that he couldn’t defend the indefensible… https://www.zerohedge.com/political/presidential-desantis-dominates-debate-glib-newsom-watch-out-hes-coming
Some pundits remarked that DeSantis’ performance illustrated why Trump won’t’ debate him.
@AnnCoulter: I didn’t watch, apparently DeSantis wiped the floor with Newsom (duh), but just remember Trump would have lost a debate with Newsom, just as he did with Biden.
London council cancels Hanukkah celebration for fear of ‘escalating tension’https://t.co/ADCudyrjCU
Democrats’ star J6 witness Cassidy Hutchinson made significant changes to her story, memo shows Normally, revisions to depositions and transcribed interviews involve fixing typographical errors. Cassidy Hutchinson made major changes to her earlier Jan. 6 committee testimony that legal experts say is “entirely new testimony.” “It throws into serious question the credibility of both the witness and the committee and the information she has related to the committee,” Charles said. “And it looks like an attempt to manipulate the written record in a way that wasn’t supported by the original testimony.”… https://justthenews.com/accountability/political-ethics/democrats-star-j6-witness-made-signficant-changes-testimony
GOP Rep. George Santos was expelled from the House of Representatives in a bipartisan vote (105 Republicans) after an ethics report accused him of converting campaign donations for his own use. Speaker Johnson was against expulsion. Santos voted very conservative. So, some pundits claim McCarthy orchestrated the expulsion to punish House GOP conservatives that removed him.
@libsoftiktok: Eric Swalwell slept with a Chinese spy. He hasn’t been expelled from Congress. Adam Schiff threw our country into turmoil for 4 years lying about the Russia Hoax. He hasn’t been expelled. Sen Bob Menendez took bribes from Egypt. He hasn’t been expelled from office. Jamal Bowman pulled a fire alarm to delay votes then lied about it. He hasn’t been expelled from Congress.
@ChayaRaichik10: They won’t expel Swalwell, Schiff, Omar, Tlaib, Bowman for actual treason but they’ll expel Santos. This is why we lose. I’m so sick of cowardly and spineless Republicans!!!!
@theblaze: DEM Sen. Fetterman: “We have a colleague in the Senate that’s actually done much more sinister kinds of things. He needs to go. If you are going to expel Santos, how can you allow Menendez to remain in the Senate? Menendez is really a Senator for Egypt, not New Jersey.” https://twitter.com/theblaze/status/1730660477087138127
@lizcollin: “After getting a call from Derek and hearing how it happened and how there was no one around and that Derek tried to fight him off… I’m wondering how something like this could even happen. Where were the guards?” Chauvin’s mother, Carolyn Pawlenty said. (Conspiracy?)
Recently, evidence from a trial of an ex-Minneapolis prosecutor showed the coroner found no evidence that George Floyd died by asphyxiation or strangulation and that drugs played a role. Now, some ex-FBI informant decides to kill Derek Chauvin– and NO GUARDS- before appeals are heard?!?!
“The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, to the productive contribution he has made to the whole community. Always attribute his success to the exploitation, the cheating, the more or less open robbery of others. Never under any circumstances admit that your own failure may be owing to your own weakness, or that the failure of anyone else may be due to his own defects – his laziness, incompetence, improvidence, or stupidity.” – Henry Hazlitt
Who else employs the ‘gospel of Karl Marx’ to attract people to their cause?
@AFP: A person known to the French authorities as a radical Islamist with mental health troubles stabbed a German tourist to death and wounded two people in central Paris on Saturday before being arrested, officials said.
@visegrad24 on Sat: Anti-Israel protesters in New York City trying to storm a McDonald’s at Times Square because the company is considered “pro-Israeli”https://t.co/2MnsnuluHX
@visegrad24: An Islamist terror against a German Christmas market has been foiled. Police arrested 2 migrants suspected of planning to “burn infidels” and drive a truck into a Christmas market in Cologne.
Award-winning journalist Alex Newman, author of the popular book “Deep State,” says there is a not-so-secret plan to destroy everything in America and everything it stands for. Newman contends it is the only way for evil globalists to have the tyrannical New World Order they dream of. The evil destroyers of freedom and liberty around the world will be talking about the demise of America at the globalist COP28 conference in Dubai, UAE next week. Newman explains, “This is all part of the agenda. What we are watching now is the deliberate destruction of the American middle-class and the deliberate destruction of the American economy. Ultimately, if these evil doers get their way, it will result in the deliberate destruction of the United States of America. We are talking about the controlled demolition of our economy, our military might and everything we hold dear. This has been known at the highest levels of government for a long time. . . . During the Trump Administration, they had Rich Higgens on the National Security Counsel, and he put together the ‘Higgens Memo.’ People should read this. He talked about the global alliance of globalists, communists, socialists and Islamists who are all working in unison for the goal of destroying the United States of America. This is not just as a nation, says Higgens, but even as an ideal. They want to shift global power over to China and over to the United Nations to gradually and then suddenly destroy the United States. They don’t just want to destroy this country, they also want to destroy the ideas and principles it is founded upon because it is simply not compatible with this one world system they want. George Soros told us what the New World Order was going to look like 10 years ago. He told the Financial Times that China needed to own the New World Order in the same way the United States owns the current one.”
Newman says Donald Trump is not part of the New World Order, and he dismantled much of it during his Presidency. Newman says, “Donald Trump is the first President in a century who did not go to this weird club of elitists such as Bohemian Grove. He never went to Bilderberg. He was never involved with the Council on Foreign Relations. Trump did not participate in the Trilateral Commission. He was not recruited in the ‘Scull and Bones’ at Yale like John Kerry, George H.W. Bush and George W. Bush. He was just not part of the club. . . . Trump was not controlled by these people. They were able to manipulate him on some key things like the CV19 shots and the MCA, but ultimately, they did not feel like they could control him. He was an outsider. This is why they are absolutely petrified of him coming back now.”
The news is not all bad as Newman says he is seeing a huge backlash from all sectors to the New World Order agenda. Newman explains, “There is an enormous backlash building. Just go out and talk to regular people. Turn off the boob tube, and this is not even propaganda, it is psychological terrorism. Turn it off and talk to real people. . . . What you will find is normal people who can’t tell you about the Bohemian Grove, the Council on Foreign Relations or the climate scam, but they can tell you ‘we are being lied to.’ Life is getting increasingly difficult. My spouse and I are both working with two jobs, and we still can’t make ends meet. We can’t pay the mortgage. Food costs are going up. They know that this is not normal. They know that we have a uniparty with Kevin McCarthy who showed up at the Bohemian Grove just before he was ousted as Speaker of the House. You have an incredible awareness from people that we are being looted, robbed, deceived and that our country is being betrayed. You don’t have to watch the fake media to be aware of all those things. I am encouraged by the awareness of people and the polling data that virtually nobody believes the media.”
There is much more in the 40-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with hard-hitting journalist Alex Newman, founder of LibertySentinel.org and author of the book “Deep State” that explains it all for 12.02.23.
Smoke from an explosion rises in Gaza, after a temporary truce between Israel and the Palestinian Islamist group Hamas expired, as seen from southern Israel, December 2, 2023. (credit: REUTERS/ALEXANDER ERMOCHENKO)
![posts[i].image.ImageName (photo credit: IDF)](https://ci3.googleusercontent.com/meips/ADKq_NYfy-ObnixwjuQjmI1n46H6DzXWmc7OaDjfYo6bbOrLRABMyMwfbUSPWqwCZ_PtsHoBmTx_BoUP5NoUZBtxbgcDS5iRwxJNYYtEdyJQgEex_HpRfq0ILpKtp-DMGPRERF_CcQY=s0-d-e1-ft#https://images.jpost.com/image/upload/c_fill,g_faces:center,h_537,w_822/566706)
A Palestinian police officer checks the documents of Palestinian workers as they enter the reopened Erez crossing to Israel, after Israeli ends a ban on workers from Gaza, in Gaza City September 28, 2023. (credit: REUTERS/IBRAHEEM ABU MUSTAFA)
wow .. this is a crime against humanity
Igor’s NewsletterTexas Sues Pfizer for Lying about Vaccine Effectiveness and Conspiracy to Censor DiscussionsGreat news! The state of Texas sued Pfizer for false advertising and selling a fraudulent product. Pfizer is also accused of a conspiracy to silence its critics, in a well-reasoned accusation. I predicted this about a year ago: I predict that Pfizer will lose this particular lawsuit. Pfizer lied publicly, and the facts are available for all to see. (we, C…Read moreend
Courageous Discourse™ with Dr. Peter McCullough & John LeakeUpper Extremity and Distal Musculoskeletal Problems Months after COVID-19 VaccinationBy Peter A. McCullough, MD, MPH I had a patient in the office recently who told me she developed a frozen shoulder in the same arm that received a COVID-19 vaccine. Adhesive capsulitis is a problem that is painful and limits range of motion of the shoulder progressing to becoming completely useless. It took months of therapy for her to work out of thi…Read more
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