DEC 6//GOLD CLOSED UP $11.70 TO $2030.00 WHILE SILVER CLOSED DOWN 25 CENTS TO $23.92//PLATINUM CLOSED DOWN $28.90 TO $892.65 WHILE PALLADIUM CLOSED DOWN $26.60 TO $949.90/GOLD COMMENTARY TODAY FROM SCHIFF GOLD//GERMAN NEWSPAPER WELT STATES THAT THE UKRAINIANS HAVE LOST THE WAR WITH RUSSIA//UPDATES ON THE ISRAELI HAMAS WAR//COVID UPDATES, VACCINE INJURY UPDATES//DR PAUL ALEXANDER//SLAY NEWS ETC//ADP USA REPORT INDICATES ECONOMY IS REAL TROUBLE//TUCKER CARLSON TONIGHT ON THE UKRAINE WAR//SWAMP STORIES FOR YOU TONIGHT//

December 6, 2023 · by · in Uncategorized · Leave a comment

GOLD PRICE CLOSED:  UP $11.70 TO $2030.00

SILVER PRICE CLOSED: DOWN 25 CENTS   AT $23.92

Access prices: closes 4: 15 PM

Gold ACCESS CLOSED 2025.50

Silver ACCESS CLOSED: 23.89

DEC 5

Shanghai Gold Benchmark Price

Shanghai Gold Benchmark Price

AM2065.58

PM2062.16

Historical SGE Fix

Popup

SHANGHAI GOLD PREMIUM OVER NY: 40 DOLLARS

Bitcoin morning price:, 44,014  UP 264 DOLLARS

Bitcoin: afternoon price: $44,051 UP 301. dollars

Platinum price closing  $892,65 DOWN  $28.90

Palladium price;     $949.90 DOWN $26.60

END

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

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

4: 15 PM ACCESS

*CANADIAN GOLD: $2,753.84 UP $9.87 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)

*BRITISH GOLD: 1613.10 UP 10.17 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BPOUNDS/OZ) OCT 2/2023

*EURO GOLD: 1881.66 UP 11.29 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: DECEMBER 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,018.500000000 USD
INTENT DATE: 12/05/2023 DELIVERY DATE: 12/07/2023
FIRM ORG FIRM NAME ISSUED STOPPED

323 C HSBC 250
363 H WELLS FARGO SEC 86
657 C MORGAN STANLEY 12
661 C JP MORGAN 25 179
685 C RJ OBRIEN 20
686 C STONEX FINANCIA 1
690 C ABN AMRO 5
700 C UBS 10
732 C RBC CAP MARKETS 17
737 C ADVANTAGE 14 14
905 C ADM 18 3

TOTAL: 327 327
MONTH TO DATE: 12,320

JPMorgan stopped 179/327 contracts.

FOR DEC.:

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT:  327 NOTICES FOR 32,700 OZ  or  1.0171 TONNES

total notices so far: 12,320 contracts for 1,232,000  oz (38.320 tonnes)


FOR  DEC:

SILVER NOTICES  124 NOTICE(S) FILED FOR 620,000 OZ/

total number of notices filed so far this month : 2398 for 11,990,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD UP $11.70//

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.29 TONNES OF GOLD FROM THE GLD

INVENTORY RESTS AT 880.83 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 25  CENTS  AT  THE SLV// NO CHANGES IN SILVER INVENTORY AT THE SLV:

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 433.090 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A MEGA GIGANTIC SIZED 3073 CONTRACTS TO 140,017 AND FURTHER FROM  THE  RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR  $0.34 LOSS  IN SILVER PRICING AT THE COMEX ON TUESDAY. WE HAD A MINOR LONG LIQUIDATION BUT CONSIDERABLE SHORT COVERING AT THE COMEX SESSION.  WE HAD A GIGANTIC 1198 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 TUESDAY NIGHT: 1198 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.34), AND WERE SUCCESSFUL IN KNOCKING SOME SILVER LONGS AS WE HAD A HUGE SIZED LOSS OF 958  OI CONTRACTS ON OUR TWO EXCHANGES. HOWEVER WE DID HAVE SOME SPEC COVERINGS EARLY IN THE COMEX  SESSION.  

WE  MUST HAVE HAD:

A HUGE SIZED 1850  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 310,000 OZ QUEUE JUMP //NEW TOTAL STANDING 18.425 MILLION OZ.+ 3.5 MILLION EX. FOR RISK/PRIOR= NEW TOTAL OF 21.925 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 21.925 MILLION OZ 

//HUGE SIZED COMEX OI LOSS/ HUGE SIZED EFP ISSUANCE/VI)  HUGE  SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1198 CONTRACTS)/

HUGE SIZED EX.FOR RISK =700 CONTRACTS OR 3.5 MILLION OZ/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 264 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 4 days, total 4086 contracts:   OR 20.430 MILLION OZ  (1021 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  20.430 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. 20.43 MILLION OZ//THIS IS GOING TO BE A HUMDINGER OF A MONTH FOR E.F.P ISSUANCE IN SILVER.

RESULT: WE HAD A  HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 3073  CONTRACTS WITH OUR HUGE LOSS  IN PRICE OF  $0.34 IN SILVER PRICING AT THE COMEX//TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE  EFP ISSUANCE  CONTRACTS: 1850  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 310,000 OZ QUEUE JUMP /NEW TOTAL STANDING 18.425 MILLION OZ//+ 3.5 MILLION EX. FOR RISK/PRIOR//NEW TOTAL 21.925 MILLION OZ. 

NEW STANDING  21.925 million OZ   /// WE HAVE A HUGE SIZED LOSS OF 1223 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY:  A HUGE SIZED 1198 CONTRACTS//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED   DURING THE TUESDAY COMEX SESSION.   THE NEW TAS ISSUANCE MONDAY NIGHT  (1198) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 124  NOTICE(S) FILED TODAY FOR 620,000  OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A  STRONG  SIZED 7479 CONTRACTS  TO 487,469 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  302 CONTRACTS

WE HAD A   STRONG SIZED DECREASE  IN COMEX OI ( 7177 CONTRACTS) WITH OUR  $5.85 LOSS IN PRICE//TUESDAY. 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 10,200 OZ E.F.P JUMP TO LONDON + 0 ISSUANCE OF EX. FOR RISK CONTRACTS    // TOTAL GOLD STANDING FOR DEC SO FAR DECREASES TO 46.870 TONNES // ALL OF..THIS HAPPENED WITH OUR $5.85 LOSS IN PRICE  WITH RESPECT TO TUESDAY’S TRADING. WE HAD A GOOD SIZED  LOSS  OF 4749  OI CONTRACTS (14,77) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2730 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 487,771

IN ESSENCE WE HAVE A GOOD SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4749 CONTRACTS  WITH 7479  CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2730 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS ON THE TWO EXCHANGES OF 4749 CONTRACTS OR 14.77 TONNES. WE HAD 0 CONTRACTS EXCHANGE FOR RISK FOR 0.0 TONNES/EX FOR RISK PRIOR = 4.634 TONNES//NEW TOTAL STANDING 42.236 TONNES + 4.634 TONNES= 46.870 TONNES.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED):  A  HUGE 1765 CONTRACTS. 

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2730 CONTRACTS) ACCOMPANYING THE  STRONG SIZED LOSS IN COMEX OI (7479) //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 4749 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 10,200 OZ E.F.P. JUMP TO LONDON + 4.634 TONNES EX. FOR RISK PRIOR//NEW STANDING 46.870 TONNES / / 3) CONSIDERABLE LONG LIQUIDATION AND  HUGE TAS LIQUIDATION AND SOME SHORT LIQUIDATION   4)  STRONG SIZED COMEX OPEN INTEREST LOSS/ 5)    FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6:  HUGE T.A.S.  ISSUANCE: 1765 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:  21,149 CONTRACTS OR 2,114,900 OZ OR 65.78 TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 5287 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 4 TRADING DAY(S) IN  TONNES  65.78 TONNES

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

THUS EFP TRANSFERS REPRESENTS  65.78/3550 x 100% TONNES  1.86% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

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

MARCH:.   276.50 TONNES (STRONG AGAIN/

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

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

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

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

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

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

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

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

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

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

FEB: 151.61 TONNES/FINAL

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

APRIL: 197.42 TONNES

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

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

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

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

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

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 65.78 TONNES. THIS MONTH MAY TURN INTO A WHOPPER OF E.F.P. ISSUANCE

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 DEC. 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 FEB., FOR  GOLD: AND MARCH FOR SILVER

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

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

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

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

1.Today, we had the open interest at the comex, in SILVER FELL BY A MEGA GIGANTIC SIZED 3073  CONTRACTS OI TO  139,753 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  1850  CONTRACTS

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

DEC  700  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  700  CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS  OF 3073 CONTRACTS AND ADD TO THE 1850  OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A HUGE LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1223 CONTRACTS

THUS IN OUNCES, THE LOSS  ON THE TWO EXCHANGES  TOTAL 61,15 MILLION OZ 

OCCURRED WITH OUR    $0.34 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 3.36 PTS OR 0.11%  //Hang Seng CLOSED UP 135.40 PTS OR 0.83%           /The Nikkei CLOSED UP 670/08 PTS OR 2.04% //Australia’s all ordinaries CLOSED UP 1.61 %   /Chinese yuan (ONSHORE) closed DOWN AT 7.1531   /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1694 /Oil DOWN TO 71.68 dollars per barrel for WTI and BRENT  DOWN AT 76.46/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

a)NORTH KOREA/SOUTH KOREA
outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL  BY A  STRONG SIZED  7,479  CONTRACTS  TO  487,469 WITH OUR   LOSS IN PRICE OF $5.85 WITH RESPECT TO TUESDAY TRADING. WE MUST HAVE CONSIDERABLE SPEC LIQUIDATIONS IN THE SESSION (AT LOWER PRICES) 

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 2730  EFP CONTRACTS WERE ISSUED: :  FEB 2730 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2730 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GOOD SIZED TOTAL OF 4,749  CONTRACTS IN THAT 2730 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A  STRONG SIZED LOSS OF 7479 COMEX  CONTRACTS..AND  THIS LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR  LOSS IN PRICE OF $5.85//TUESDAY 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 TUESDAY NIGHT WAS A STRONG SIZED   1765 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)//. 

// WE HAVE A LIGHT AMOUNT OF GOLD TONNAGE STANDING:   DEC  (46.870 TONNES  (  ACTIVE MONTH)

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

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY: 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

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

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

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

SEPT: 15.281 TONNES FINAL

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

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 42.4236 + 4.634 TONNES OF EXCHANGE FOR RISK =  46.870 TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $5.85) //// AND WERE SUCCESSFUL IN KNOCKING  SOME  SPECULATOR LONGS AS  WE HAD A GOOD SIZED LOSS OF 4749 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF TUESDAY’S TRADING .   THE T.A.S. ISSUED ON TUESDAY 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 LOST A TOTAL OI OF  14.77 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 10,200 OZ E.F.P JUMP TO LONDON (FOR 0,317 TONNES)//NEW TOTAL STANDING FALLS TO 42.236 +  4.634  TONNES EXCHANGE FOR RISK : NEW TOTAL 46.870 TONNES../ ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE  TO THE TUNE OF $5.85  

WE HAD  REMOVED –302 CONTRACTS  TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)

NET LOSS ON THE TWO EXCHANGES 4749  CONTRACTS OR 474,900 OZ OR 14.77 TONNES.

Estimated gold volume today:// 156,336 poor

final gold volumes/yesterday   228,847 fair

//speculators have left the gold arena

DEC 6

/ /// THE DEC.  2023 GOLD CONTRACT

GoldOunces
Withdrawals from Dealers Inventory in oz
 nil
Withdrawals from Customer Inventory in oz



nil oz
















 




















   






 







 




.

 








 









 
Deposit to the Dealer Inventory in oz
nil OZ





 
Deposits to the Customer Inventory, in oznil
No of oz served (contracts) today327  notice(s)
32,700 OZ
1.0171 TONNES
No of oz to be served (notices)  1259  contracts 
  125,900 oz
0.3916 TONNES

 
Total monthly oz gold served (contracts) so far this month12,320 notices
1,232,000  oz
38.320 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of gold from the Customer inventory this monthx

0 dealer deposit:

total dealer deposits:  nil oz

customer deposits: 0

total customer deposits:  nil    oz

we had  0 customer withdrawals

total withdrawals nil oz

Adjustments; 1

very weird:

added to inventory Manfra: 24,488.658 oz eligible

added to inventory Manfra registered 24,402.609 oz

total added 48,961,267 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.

For the front month of DECEMBER we have an oi of 1586  contracts having LOST 642 contracts. .We had 540

contracts served upon TUESDAY, so we LOST or an additional 102 CONTRACTS OR 10,200 OZ (0.317 tonnes)  will NOT stand for delivery at the comex

as they were immediately EFP’d to London to take delivery over there on a T + 2 basis.

JAN. gained 113 contracts RISING TO 3779 contracts.

FEB LOST  6926 CONTRACTS FALLING TO 393,756.

We had  327 contracts filed for today representing  32,700    oz  

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 25  notices were issued from their client or customer account. The total of all issuance by all participants equate to  327   contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and  179 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 (12,320 x 100 oz ), to which we add the difference between the open interest for the front month of  DEC. (1586  CONTRACTS)  minus the number of notices served upon today  327 x 100 oz per contract equals  1,357,900 OZ  OR 42.236 TONNES + 4.634 TONNES EX. FOR RISK ISSUED (FOR DELIVERY HERE) = 46.870 TONNES. 

thus the INITIAL standings for gold for the DEC. contract month:  No of notices filed so far (12,320) x 100 oz +  (1586) {OI for the front month} minus the number of notices served upon today (327)  x 100 oz) which equals  1,357,900 oz standing OR 42.236 TONNES + 4.634 tonnes of ex. for risk = 46.870 TONNES

TOTAL COMEX GOLD STANDING FOR DEC: 46.870 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.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,559,349,955  OZ   48.50 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  20,046.009.058 OZ  

TOTAL REGISTERED GOLD 10,259,971.875  (319,128  tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,786,637,183 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,700,622 oz (REG GOLD- PLEDGED GOLD) 270,62 tonnes

END

SILVER/COMEX

DEC 6

//2023// THE DEC 2023 SILVER CONTRACT

SilverOunces
Withdrawals from Dealers InventoryNIL oz
Withdrawals from Customer Inventory
1074.400 oz


Delaware


































































.














































 










 
Deposits to the Dealer Inventorynil oz
 
Deposits to the Customer Inventoryniloz








 











































 











 
No of oz served today (contracts)124  CONTRACT(S)  
 (620,000  OZ)
No of oz to be served (notices)1287 contracts 
(6,745,000 oz)
Total monthly oz silver served (contracts) 2398 Contracts
 (11,990,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this monthNIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit

total dealer deposit: nil oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  0 deposits customer account:

total customer deposit nil   oz

JPMorgan has a total silver weight: 133.841  million oz/266,703 million  or 50.16%

Comex withdrawals 1

we had  1 customer withdrawals

ii) Out of Delaware: 1,074.400 oz

total withdrawals 1074.400 oz

adjustments: 0

TOTAL REGISTERED SILVER: 44.357 MILLION OZ//.TOTAL REG + ELIGIBLE. 266.703 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF DEC /2023 OI: 1411   CONTRACTS HAVING LOST 143  CONTRACT(S).

WE HAD 205 CONTRACTS SERVED ON TUESDAY, SO WE GAINED 62 CONTRACTS OR 310,000 OZ WERE

QUEUE JUMPED AS THESE GUYS ARE SEARCHING FOR METAL OVER HERE. 

JAN GAINED 18 CONTRACTS UP TO 1884 CONTRACTS

FEB GAINED 29 CONTRACTS TO STAND AT 54

MARCH LOST 3109 CONTRACTS TO 120,650 .

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 124 for 620,000  oz

Comex volumes// est. volume today   58,306,// fair

Comex volume: confirmed yesterday 81,268 excellent

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 2398 x  5,000 oz = 11,990,000 oz 

to which we add the difference between the open interest for the front month of DEC. (1411) and the number of notices served upon today 124 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC/2023 contract month:  2398 (notices served so far) x 5000 oz + OI for the front month of DEC. (1411) – number of notices served upon today (124 )x 500 oz of silver standing for the DEC  contract month equates to 18.425 MILLION OZ.   to which we had prior exchange for risk of 3.5 million oz.  New total standing: 21.925 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 6/WITH GOLD UP $11.70  TODAY:SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.29 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 880.83 TONNES

DEC 5/WITH GOLD DOWN $5.85  TODAY:HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.30 TONNES OF GOLD FROM THE GLD. // / / // // INVENTORY RESTS AT 881.12 TONNES

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: 880.83 TONNES

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

DEC  6/WITH SILVER DOWN 25 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: // //://// //INVENTORY RESTS AT 433.090 MILLION OZ

DEC  5/WITH SILVER DOWN 34 CENTS TODAY:SMALL CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 0.305 MILLION OZ FROM THE SLV// //://// //INVENTORY RESTS AT 433.090 MILLION OZ

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 433.090 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

Central banks continue to be buyers of official gold

(SchiffGold)

The Summer Of Central Bank Gold Buying Extends Into The Fall

WEDNESDAY, DEC 06, 2023 – 06:30 AM

Via SchiffGold.com,

Central banks gobbled up gold over the summer and the buying spree has continued into the fall.

Globally, central banks added another net 42 tons of gold to their reserves in October.

China continues to be the biggest gold purchaser. The People’s Bank of China added another 23 tons of gold to its hoard in October as it expanded its official reserves for the 12th straight month.

Since the beginning of the year, the People’s Bank of China increased its reserves by 204 tons, and it has added 255 tons since it resumed official purchases in November 2022. As of the end of October, China officially held 2,215 tons of gold, making up 4% of its total reserves.

Most people believe the Chinese hold even more gold than that off the books.

There has always been speculation that China holds far more gold than it officially reveals. As Jim Rickards pointed out on Mises Daily back in 2015, many people speculate that China keeps several thousand tons of gold “off the books” in a separate entity called the State Administration for Foreign Exchange (SAFE).

Last year, there were large unreported increases in central bank gold holdings.  Central banks that often fail to report purchases include China and Russia. Many analysts believe China is the mystery buyer stockpiling gold to minimize exposure to the dollar.

The Central Bank of Turkey also made another big gold buy in October, expanding its holdings by 19 tons. Even with big purchases over the last several months, Turkey is still a net seller on the year.

The Turkish central bank sold 160 tons of gold last spring but returned to buying in the third quarter. According to the World Gold Council, the big gold sale earlier this year was a specific response to local market dynamics and didn’t likely reflect a change in the Turkish central bank’s long-term gold strategy. It sold gold into the local market to satisfy demand after the government imposed import quotas in an attempt to improve its current account balance. The country is running a significant trade deficit.

Although the Turkish government reinstated gold import quotas in early August, so far we haven’t seen a repeat of sales into the local market to meet elevated demand.

The National Bank of Poland also continued its recent gold-buying spree, expanding its reserves by another 6 tons. Its gold holdings have now risen by over 100 tons this year.

In 2021, Bank of Poland President Adam Glapiński announced a plan to expand the country’s gold reserves by 100 tons. Now that it’s reached that gold, Glapiński indicated it will continue to add gold to its holdings.

This makes Poland a more credible country, we have a better standing in all ratings, we are a very serious partner and we will continue to buy gold. The dream is to reach 20 percent.”

When he announced the plan to expand its gold reserves, Glapiński said holding gold was a matter of financial security and stability.

Gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electronic accounting records. Of course, we do not assume that this will happen. But as the saying goes – forewarned is always insured. And the central bank is required to be prepared for even the most unfavorable circumstances. That is why we see a special place for gold in our foreign exchange management process.”

Other significant gold buyers in October included:

  • India — 3 tons
  • The Czech Republic — 2 tons
  • The Kyrgyz Republic — 1 ton
  • Qatar — 1 ton

There were two notable gold sellers in October.

The Central Bank of Uzbekistan sold 11 tons of gold during the month. The National Bank of Kazakhstan also continued its recent selling, lowering its reserves by 2 tons.

It is not uncommon for banks that buy from domestic production – such as Uzbekistan and Kazakhstan – to switch between buying and selling.

October’s buying came on the heels of the second-highest third-quarter total of central bank gold buying on record, only coming in behind Q3 2022.

The World Gold Council said it’s “all but certain that central banks are on course for another colossal year of buying,” after a record-setting 2022.

The strength of buying has, to some degree, exceeded our expectations. While we were confident that central banks would remain net purchasers in 2022, we thought it unlikely that it would match last year’s record buying volume. Should buying continue to be strong in Q4, the full-year total could get closer than we anticipated. Nevertheless, the historically high level of buying in Q4 2022 may be difficult to top.”

Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971. It was the 13th straight year of net central bank gold purchases.

According to the 2023 Central Bank Gold Reserve Survey recently released by the World Gold Council, 24% of central banks plan to add more gold to their reserves in the next 12 months. Seventy-one percent of central banks surveyed believe the overall level of global reserves will increase in the next 12 months. That was a 10-point increase over last year.

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

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

Byzantine gold coin with image of Jesus unearthed by metal detectorist in Norway

Submitted by admin on Tue, 2023-12-05 21:45Section: Daily Dispatches

By Jennifer Nalewicki
Live Science, New York
Tuesday, December 5, 2023

A metal detectorist discovered a thousand-year-old gold coin depicting Jesus Christ while exploring the mountains in Vestre Slidre, a municipality in southern Norway.

Known as a “histamenon nomisma,” this type of small coin was introduced around A.D. 960. It shows Jesus holding a Bible on one side and, on the other, the images of Basil II and Constantine VII, two brothers who both ruled the Byzantine Empire, according to a translated statement.

The western half of the Roman Empire collapsed in 476, while the Byzantine, or Eastern Roman Empire, continued on for another millennium. 

Archaeologists think the coin was minted between 977 and 1025, during the brothers’ reign, based on three dotted lines that circle the coin’s border — a design element commonly used during that period. The artifact also contains two inscriptions. The first, written in Latin, reads, “Jesus Christ, king of those who reign,” and the second, in Greek, says, “Basil and Constantine, emperors of the Romans,” according to the statement. …

… For the remainder of the report:

https://www.livescience.com/archaeology/byzantine-gold-coin-with-face-of-jesus-unearthed-by-metal-detectorist-in-norway

END

Young Chinese spurn traditional investments in favor of gold

Submitted by admin on Tue, 2023-12-05 21:59Section: Daily Dispatches

By Casey Hall and Amy Lv
Reuters
Tuesday, December 5, 2023

Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency, and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy.

The trend underscores heightening uncertainty about growth prospects in the world’s second-largest economy, which has not recovered from COVID-19 lockdowns as fast as consumers and job hunters had expected.

“The employment market has not been very good,” said Linda Liu, 26, who works for a pharmaceuticals company in Beijing, but worries about job stability. “Buying gold makes me feel better.”

“I want gold jewellery instead of diamonds for my wedding.”

China is the world’s top buyer of physical gold and analysts say this year it has been an increasingly important driver behind a rally in global spot gold prices, which hit all-time highs on Monday.

Analysts expect Chinese demand for the safe haven metal to remain high as economic growth grinds lower in coming years and foreign investment outflows weigh on the yuan, while the property market is still looking for a bottom.

“Incomes are not really appreciating, real estate is not really appreciating, the stock market is not really appreciating,” said Jacques Roizen, managing director of consulting at Digital Luxury Group in Shanghai. …

… For the remainder of the report:

https://www.reuters.com/markets/commodities/young-chinese-spurn-traditional-investments-favour-gold-2023-12-05/

end

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/ l

END

5 a. IMPORTANT COMMENTARIES ON COMMODITIES 

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN:   CLOSED DOWN AT 7.1581

OFFSHORE YUAN: DOWN TO 7.1694

SHANGHAI CLOSED  DOWN 3.36 PTS OR 0.11%

HANG SENG CLOSED UP 135.40 PTS OR 0.83%

2. Nikkei closed  UP  670.08  PTS OR 2.04%

3. Europe stocks   SO FAR:   ALL GREEN 

USA dollar INDEX UP  TO  104.04 EURO FALLS TO 1.0777 DOWN 16 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +.635 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.30/JAPANESE YEN FALLING AS WELL AS LONG TERM 10  YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now  ABOVE 17,000

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

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

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

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

3g Oil 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 +2.2425***/Italian 10 Yr bond yield DOWN to 3.998** /SPAIN 10 YR BOND YIELD DOWN TO 3.258…**

3i Greek 10 year bond yield DOWN TO 3.354

3j Gold at $2027.85 silver at: 24.19 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0  AND 5 /100        roubles/dollar; ROUBLE AT 92.33//

3m oil into the  71  dollar handle for WTI and 76  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 147,36//  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.635% 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 0.8751 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9431 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: 4.192 UP 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.320  UP 2 BASIS PTS/

USA 2 YR BOND YIELD:  4.608 UP 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 28.94…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: UP 4  BASIS PTS AT 4.068

end

2.a  Overnight:  Newsquawk and Zero hedge

Futures Rise As Europe Hits 4 Month High

WEDNESDAY, DEC 06, 2023 – 08:10 AM

US equities were set for modest gains on Wednesday even as they drifted lower from session highs, as a weakening labor market boosted bets that the Federal Reserve is done with interest-rate hikes and could pivot to monetary easing sooner, even as we are approach levels of priced-in rate cuts which some say guarantee a recession. As of 7:30am ET S&P 500 futures were up 0.1% to 4,581.50, wile Nasdaq futures rose 0.3%. Asian stocks rebounded from a three-day losing streak, while Europe’s Stoxx 600 index traded near the highest level in four months. A rally in bonds stalled with the US 10-year yield rising toward 4.2%. The US Dollar is lower, its first down day this week. Commodities are mixed with Energy weaker, Ags stronger, and base outperforming precious. Bitcoin traded close to the $44,000 mark in the longest winning streak for the largest cryptocurrency since May, fanned by expectations of looser monetary policy. The macro data focus today is on ADP, 23Q3 readings on productivity/labor costs, mortgage applications, and the trade balance.

In US premarket trading, Shake Shack rose after the fast-casual restaurant was upgraded to strong buy from outperform at Raymond James, which sees upside potential to store margin estimates. Box shares fell 14% the cloud storage company cut its adjusted earnings per share guidance for the full year. Here are some other notable premarket movers:

  • Asana shares drop 15% with analysts flagging the continuing impact of a weak macroeconomic backdrop on the application software company’s business, stoking worries that growth could be sluggish, even as there are signs of stabilization.
  • Altria drops 1.6% and Philip Morris is down 1.2% after British American Tobacco said it would write down the value of some of its US cigarette brands by about £25 billion ($31.5 billion).
  • MongoDB shares fall 4.2% after the database software company reported its third-quarter results and gave an outlook. Analysts are broadly positive on the report, but said they may not have met elevated expectations, given the stock is up 120% this year as of last close
  • Discover Financial Services (DFS) rises 1.9% and Capital One Financial (COF) gains 2.1% after both stocks were upgraded to buy at BofA Global Research, with the analyst saying the two firms’ shares can re-rate higher in coming months as their peak losses come into view.
  • Nio ADRs rise 2.3% after Reuters reported that the Chinese EV maker plans to spin off its battery manufacturing business, possibly before the end of this year.
  • Plug Power shares drop 5.7% after Morgan Stanley cut its recommendation on the renewables company, noting liquidity concerns and worsening hydrogen economics.
  • Inmode (INMD) slides as much as 13% after the medical devices firm cut its revenue guidance for the full year, missing the average analyst estimate.
  • PayPal (PYPL) drops 1.8% after BofA cuts its rating on the mobile payments company to neutral from buy, saying that 2024 is set to be a transition year.
  • SentinelOne shares jump 19% after the infrastructure software company reported third-quarter earnings that beat expectations and raised its full-year forecast. Raymond James called the results “strong.”
  • Rent the Runway (RENT) drops 12% after the clothing-rental company reported revenue and active subscribers for the third quarter that missed estimates. Wells Fargo and Jefferies both reduced their price targets on the stock.
  • Signet Jewelers (SIG) gains 1.6% after Citi raised the Zales owner to buy from neutral, saying the jewelry recession is nearing an end and engagement trends are showing signs of bottoming.
  • Yext Inc. shares fall 15% after the digital media technology services company cut its full-year revenue forecast. It did, however, raise its full-year view for adjusted earnings.

Traders are debating the staying power of a rally built on hopes for a sharp policy U-turn. Recent dovish commentary from central bankers may not be tantamount to assurance they are preparing to pivot to easy policy, Craig Erlam, senior market analyst at Oanda, wrote in a note to clients. Overstretched technicals and the belief that the Fed won’t cut interest rates as quickly as markets expect have prompted bearish warnings from Wall Street heavyweights.

“It’s clear now that there’ll be quite a shift from central banks,” Erlam wrote. “Whether that will be enough to constitute the pivot that’s been so talked about this year may well determine whether markets continue to price in a March cut as a U-turn of that magnitude will have to be clear.”

It’s not just the Fed that is seen cutting rates as soon as March: markets fully priced in six quarter-point rate cuts by the ECB in 2024 earlier on Wednesday, a move that would take the key rate down 150 basis points to 2.5%. German factory orders unexpectedly fell in October, highlighting how manufacturing in Europe’s largest economy remains stuck in a rut.  

“Europe has both cyclical and structural challenges, and that’s what causing a lot of that oscillation and volatility about what markets are really expecting the ECB to do in the coming weeks and coming quarters,” Stephanie Niven, portfolio manager at Ninety One UK Ltd., said in an interview with Bloomberg TV.

And speaking of Europe and the coming ECB easing, all major markets are higher with Italy leading and Spain lagging as the Stoxx 600 set a four-month high before fading to trade up 0.2% on the session. Miners, travel and financial services are the strongest performing sectors. The moves come after the European Central Bank’s most-hawkish officials yesterday said inflation is showing a “remarkable” slowdown. Germany’s DAX made a new all-time high on rate cut expectations. Tech-related sectors are outperforming, following AAPL’s performance. Among individual stocks, British American Tobacco Plc shares plunged more than 9%, the most since March 2020, after saying it would write down the value of some of its US cigarette brands by about £25 billion ($31.5 billion). Merck KGaA lost 12%, the biggest decline among members of the Stoxx 600 index, after the Evobrutiniban trial failure dealt a blow to the German company’s plans of creating another blockbuster medicine. Here are some of the other biggest movers Wednesday:

  • TUI rises as much as 10%, the most intraday since April, after the tour operator gave 2024 guidance that Jefferies said implies “a positive outlook for international travel from Europe”
  • Weir Group rises as much as 4.9% after the British energy and mining engineering company outlines its 2026 operating margin target. Jefferies says the target is “very healthy”
  • Redde Northgate rises as much as 6.3% after the commercial vehicle rental company said it is confident on the outlook for 2H, expecting to deliver annual earnings “modestly” ahead
  • H&M falls as much as 2.4% and Inditex as much as 2.1% after Deutsche Bank said there is “not a lot” to look forward to for the European retail sector in 2024,” downgrading both firms to sell
  • Clariant falls as much as 1.9% after the chemicals firm said it plans to close a bioethanol plant in Romania and downsize related activities in Germany, spurring an impairment charge and outlook cut
  • Newag tumbles as much as 19% after Onet website reported that the Polish trains manufacturer could have hired hackers to interfere in its train software to hamper servicing by competing companies

Earlier in the session, Asian equities rose, poised to snap a three-day losing streak, boosted by rebounds in Hong Kong and Japan amid rising expectations that the Federal Reserve will cut interest rates next year. The MSCI Asia Pacific Index rose 1%, the most since Nov. 15, with Toyota, Sony and BHP Group among the biggest contributors.

  • Japan’s Nikkei 225 climbed back above 33,000 as the 10yr JGB yield declined to its lowest since August. The Topix jumped more than 1.5% as falling US bond yields supported gains in tech. Indian stocks extended gains after the market breached the $4 trillion mark for the first time on Tuesday.
  • Hong Kong shares were also on track to halting a three-day loss. Sentiment on Chinese equities got a lift from a local media report calling for a “mild bull market” next year, while Nomura maintained an overweight position on the market.
  • India stocks rallied for the seventh straight day, with key benchmarks climbing to new all-time highs amid continued foreign buying. The S&P BSE Sensex Index rose 0.5% to a new record closing high of 69,653.73 while the NSE Nifty 50 Index advanced 0.4%. India’s total stock market value reached more than $4 trillion Tuesday for the first time. Foreigners have been buyers of Indian shares since the start of November and purchased more than $3.3 billion of local equities through Dec. 4. Adani Group shares continued to rally on Wednesday as city gas distribution unit surged by a daily 20% limit while green energy units closed 16% higher.
  • Australia’s ASX 200 saw broad gains across sectors amid lower yields and with markets unfazed by mixed GDP data

In FX, the Bloomberg dollar spot index steadied. Here are how some key pairs performed:

  • AUD/USD rose as much as 0.7% to 0.6597 as global rate cut bets boosted stock markets and risk sentiment;
  • USD/JPY rose as much as 0.2% to 147.40 as haven demand ebbed
  • EUR/USD pared a drop of 0.2% to trade slightly lower at 1.0790 as the euro heads for its sixth day of losses; Money-markets fully priced 150bps of ECB rate cuts in 2024 earlier in the session
  • USD/CAD traded slightly lower, down 0.1% to 1.3585 ahead of the Bank of Canada’s decision, where rates are anticipated to be held steady

In rates, Treasury yields rose 1-4bps across the curve, leaving yields near highs of the day and cheaper by up to 4bp across belly of the curve, after Tuesday’s rally saw 10-year bond yields drop below 4.2% to the lowest level since August. The curve bear flattened with 2s10s narrowing 1.0bps. Peripheral spreads widen to Germany with 10y BTP/Bund widening 1.4bps to 175.4bps. US session focus includes ADP employment change data, which comes ahead of Friday’s jobs report.

In commodities, crude futures decline d again: WTI drifted 0.7% lower to trade near $71.79. Spot gold rises roughly $3 to trade near $2,023/oz.

Bitcoin traded close to the $44,000 mark in the longest winning streak for the largest cryptocurrency since May, fanned by expectations of looser monetary policy.

Looking to the day ahead now, and data releases from the US include the ADP’s report of private payrolls for November, as well as the October trade balance. Meanwhile in Europe, there’s German factory orders and Euro Area retail sales for October, along with the German and UK construction PMIs for November. From central banks, there’s a policy decision from the Bank of Canada, whilst the Bank of England are releasing their Financial Stability Report.

Market Snapshot

  • S&P 500 futures up 0.2% to 4,584.25
  • STOXX Europe 600 up 0.2% to 468.41
  • MXAP up 1.0% to 161.44
  • MXAPJ up 0.6% to 500.33
  • Nikkei up 2.0% to 33,445.90
  • Topix up 1.9% to 2,387.20
  • Hang Seng Index up 0.8% to 16,463.26
  • Shanghai Composite down 0.1% to 2,968.93
  • Sensex up 0.5% to 69,668.50
  • Australia S&P/ASX 200 up 1.7% to 7,178.35
  • Kospi little changed at 2,495.38
  • Brent Futures down 0.3% to $77.00/bbl
  • Gold spot up 0.2% to $2,023.02
  • U.S. Dollar Index little changed at 103.96
  • German 10Y yield little changed at 2.25%
  • Euro little changed at $1.0795

Top Overnight News

  • BOJ Deputy Governor Ryozo Himino said an exit from ultra-loose monetary policy, if done properly, will reap benefits for the economy, signaling that an end to decades of super-low interest rates may be nearing. RTRS
  • Apple wants batteries for its latest generation of iPhones to be made in India, as part of the US tech giant’s efforts to diversify its global supply chain and move manufacturing out of China. FT
  • The BOE amplified warnings about hedge funds shorting Treasury futures, saying the net position is now larger than during the pandemic “dash for cash.” The central bank said the position’s grown to $800 billion from about $650 billion in July, suggesting a jump in the so-called basis trade. BBG
  • Global airlines are poised to generate record revenue of $23.3 billion this year and will extend the gains in 2024, IATA said. That’s more than double what the trade body expected in June. BBG
  • Joe Biden said he may not have sought reelection if Donald Trump weren’t the probable GOP challenger. “I’m not sure I’d be running,” he told donors in Massachusetts. “But look, he is running and I just have to run.” BBG
  • Crude stockpiles at Cushing jumped by a massive 4.3 million barrels last week, the API is said to have reported. That would be the biggest surge in more than three years, if confirmed by the EIA today. Overall, US supplies edged up: Gasoline and distillate inventories rose by a combined 4.7 million. BBG
  • ADP jobs data will be scrutinized for more signs of softening. It’s forecast at 130,000, still significantly below its one-year average. But don’t read too much into it before Friday’s payrolls: The correlation was negative over the past year. BBG
  • U.S. negotiators made a fresh offer to Russia in recent weeks to secure the release of detained Americans Evan Gershkovich and Paul Whelan, but Moscow rejected the American proposal, the U.S. State Department said Tuesday. WSJ
  • NVDA’s CEO said he still hopes to supply high-end processors to China, days after U.S. Commerce Secretary Gina Raimondo warned U.S. companies against sales of AI-enabling chips to the country in the name of national security. WSJ

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mostly higher with risk sentiment underpinned by softer yields as market focus remained on data releases and with the recent drop in US job openings stoking hopes for Fed rate cuts. ASX 200 saw broad gains across sectors amid lower yields and with markets unfazed by mixed GDP data. Nikkei 225 climbed back above 33,000 as the 10yr JGB yield declined to its lowest since August. Hang Seng and Shanghai Comp were somewhat varied as the Hong Kong benchmark conformed to the overall upbeat mood, while the mainland lagged after the PBoC continued to drain liquidity and Moody’s revised China’s credit outlook to negative.

Top Asian News

  • Chinese official Liu said the Biden-Xi meeting cannot solve US-China problems and domestic US politics could pose problems for US-China ties, while Liu added US policy towards China is unlikely to change in the near future and the outcome of Taiwan elections may affect US-China relations.
  • Fitch said there are no further updates after it affirmed China’s A+ rating with a stable outlook in August and S&P also said there was no change to China’s credit rating or outlook, according to Reuters.
  • BoJ Deputy Governor Himino said the BoJ will patiently maintain easy policy until a sustained and stable achievement of the price target is in sight, while he added that Japan’s financial system is likely resilient enough to weather stress from transition to higher interest rates. Furthermore, Himino stated they must make appropriate decisions on the timing of the exit and procedure by scrutinising wage and inflation developments.
  • Japan is reportedly considering a tax carryover for loss-making wage hikes, via Kyodo
  • Japanese MOF official suggest some Japan primary dealers said 20yr JGB sales should be reduced, according to Bloomberg
  • Chinese November Retail Passenger Vehicle Sales Y/Y 25% (prev. 10.2% Y/Y), according to China’s PCA
  • Moody’s has placed 26 Chinese LGFVs ratings on review for a downgrade following sovereign action; Moody’s affirms Hong Kong SAR’s Aa3 rating, changes outlook to negative from stable

European equities, Eurostoxx50 +0.3%, are trading modestly firmer on the back of a positive handover from APAC trade overnight, though the DAX, +0.1%, marginally lags; hampered by losses in Merck -13%. European sectors are mixed with a slight positive tilt; Travel & Leisure and Basic Resources outperform, with the former propped up by Tui +10% whilst the latter benefits from higher base metals prices. US equity futures are also trading on a firmer footing, posting gains similar to their European counterparts; ES +0.3%.

Top European News

  • ECB’s Kazaks says there is now no need to cut rates in H1, but if the situation changes then ECB decisions might change, via Econostream.
  • German coalition sources, to Reuters, have said that little budgetary progress was made overnight with the parties still far apart; Green leader Lang added the budget will not be discussed at Cabinet on Wednesday.
  • EU finance ministers are discussing debt reduction targets as part of a fiscal overhaul which could include a fiscal buffer of 1.5% of GDP, according to Bloomberg.
  • UK CMA says it is undertaking wider piece of work looking at competition in groceries sector, and has set out latest findings and next steps in its ongoing review.
  • BoE FSR: FPC is maintaining the UK countercyclical capital buffer (CCyB) rate at its neutral setting of 2%; The full impact of higher interest rates will take time to come through; The overall risk environment remains challenging, reflecting subdued economic activity, further risks to the outlook for global growth and inflation, and increased geopolitical tensions.

FX

  • A choppy European morning for the Dollar thus far, within confined ranges on either side of 104.00 between 103.88-104.05 as macro newsflow this morning remains light.
  • Aussie, Kiwi and Loonie are all firmer amid the broader upbeat risk sentiment and rebound in base metals, following yesterday’s session of losses.
  • The Japanese Yen is slightly lower and back above 147.00; BoJ’s Himino suggested the central bank does not have a present schedule in mind on an exit from easy policy.
  • PBoC set USD/CNY mid-point at 7.1140 vs exp. 7.1476 (prev. 7.1127).
  • China’s major state-owned banks were seen selling dollars for yuan in the onshore spot FX market, according to sources cited by Reuters.

Fixed Income

  • Another session of differing initial performance for Gilts and EGBs with UK debt beginning on the backfoot to the modest benefit of the region’s yields.
  • USTs in-fitting with Gilts throughout the morning, as yields lift off lows as participants take a slight pause after recent marked dovish action with ADP due.
  • Though, Bunds have retreated from the aforementioned high after failing to test touted Fib resistance at 135.27; a high that printed as part of a gradual post-data move.
  • Overall, market pricing remains extremely dovish, with participants/notes continuing to focus on Schnabel’s commentary from early Tuesday.
  • UK sells GBP 3bln 0.875% 2033 Green Gilt: b/c 2.66x (prev. 2.56x), average yield 4.091% (prev. 4.315%) and tail 1.3bps (prev. 1.3bps)

Commodities

  • WTI and Brent, -1.1%, have resumed downward price action in recent trade having consolidated overnight; nothing by way of fresh fundamental behind the move, though attention is on Russian President Putin arriving in the UAE.
  • Base metals bolstered by the broader risk sentiment and following the gains in some major APAC markets overnight; modest upside in XAU, but well within recent ranges as we await fresh impetus on next year’s monetary expectations.
  • US Energy Inventory Data (bbls): Crude +0.6mln (exp. -1.4mln), Gasoline +2.8mln (exp. +1.0mln), Distillate +0.9mln (exp. +1.5mln), Cushing +4.3mln.
  • Saudi Arabia set January Arab light crude OSP to Asia at Oman/Dubai + USD 3.50/bbl, to NW Europe at ICE Brent + USD 2.90/bbl and to US at ASCI + USD 7.15/bbl, according to Aramco/pricing document cited by Reuters.
  • Venezuelan President Maduro said he would authorise oil exploration in an area around the Esequibo River which is a disputed territory with Guyana. It was also that US official Nichols said they are seeing Venezuela’s illicit oil trade move back into the formal sector.
  • Iran’s Revolutionary Guard Navy seized two vessels smuggling 4.5mln/ltrs of fuel, according to Tasnim.

Geopolitics

  • Hamas official said there will be no negotiations or exchange of detainees until the aggression against Gaza stops.
  • US President Biden will participate in a meeting with G7 leaders today and Ukrainian President Zelensky will also join the G7 leaders video summit, according to Reuters.
  • US Treasury Secretary Yellen said the US would be responsible for Ukraine’s defeat if Biden’s funding request fails to win approval by Congress and noted US aid to Ukraine is essential to keep the government operating and maintain IMF financial support to Ukraine.
  • Russian Upper House of Parliament proposes to hold elections on March 17th 2024, via Tass; will consider the election date order on December 7th.
  • Islamic Resistance in Iraq say Harir base in Erbil targeted by drone in response to the bombing of Gaza, according to Al Jazeera.

US Event Calendar

  • 07:00: Dec. MBA Mortgage Applications, prior 0.3%
  • 08:15: Nov. ADP Employment Change, est. 130,000, prior 113,000
  • 08:30: 3Q Nonfarm Productivity, est. 4.9%, prior 4.7%
  • 08:30: 3Q Unit Labor Costs, est. -0.9%, prior -0.8%
  • 08:30: Oct. Trade Balance, est. -$64.2b, prior -$61.5b

DB’s Jim Reid concludes the overnight wrap

The rate cut narrative continues to gather pace, leading to a fresh bond rally over the last 24 hours on both sides of the Atlantic. In the US, that was mostly driven by the latest JOLTS data, where fewer job openings suggested that the tightness in the labour market was continuing to ease. Clearly that could be very good news but the rapid normalising of labour market conditions will need to plateau at some point soon to ensure that the appearance of a potential soft landing is not just a path to a harder one.

In the meantime, we also had the ISM services index, which showed that a steady pace of growth was continuing, despite the ongoing contraction in the manufacturing prints. And over in Europe, matters were helped further by some dovish comments from the ECB’s Schnabel, helping the German DAX (+0.78%) to close at an all-time high .

In terms of the details, those comments from Schnabel meant that bonds got the day off to a very positive start. Specifically, she said in a Reuters interview that the November flash CPI reading was “a very pleasant surprise”, and the recent inflation data “has made a further rate increase rather unlikely .” In turn, that meant investors ratcheted up the likelihood of an ECB rate cut as early as the March meeting, with market pricing now pointing to an 86% probability of a 25bp cut by then .

That momentum continued throughout the day, particularly after the JOLTS report in the US showed that job openings were down to 8.733m in October (9.3m expected). That’s the lowest they’ve been in the last two-and-a-half years, and it meant that the ratio of job openings per unemployed individuals was back down to just 1.34. That’s down from 1.8 six months ago and moving us closer to the pre-pandemic levels around 1.2. It represents good news from the Fed’s point of view since they’ve wanted to see labour demand and supply come back into balance for some time. As discussed at the top, we would expect to see a significant fall in job openings in a recession so the momentum would need to slow relatively soon to avoid that .

All this dovish news led to a major sovereign bond rally, with yields on 10yr Treasuries (-8.9bps) down to a 3-month low of 4.17%, whilst the 2yr Treasury (-5.3bps) fell to 4.58%. In Asia yields are back up 2-3bps across the curve. The rally yesterday though meant that there was even growing speculation about a Fed rate cut as soon as January, with futures placing a 14% probability of this by yesterday’s close. Meanwhile in Europe, there were even larger moves in yields, with those on 10yr bunds (-10.7bps) falling to their lowest in nearly 7 months at 2.24%, just as those on 10yr OATs (-12.4bps) and BTPs (-13.3bps) saw significant declines as well.

As all this was happening, other data yesterday offered some support to a soft landing scenario. In particular, the ISM services index rose slightly more than expected to 52.7 in November (vs. 52.3 expected), and the new orders component remained at 55.5 (vs. 54.9 expected). Remember though, there are still several releases to navigate over the coming days, as today will bring the ADP’s report of private payrolls, ahead of the jobs report and UoM inflation expectations on Friday, and then the latest CPI report next Tuesday.

Risk assets saw a mixed response to this backdrop, with some big differentiation. The S&P 500 (-0.06%) was fairly flat, supported by a big recovery in big tech stocks as the Magnificent 7 (+1.24%) ended a run of 4 consecutive declines and the broader NASDAQ was up +0.31%. By contrast, the Russell 2000 (-1.38%) lost significant ground, having just advanced for the last 4 sessions. The equal-weighted S&P 500 was down -0.89%, with 82% of S&P constituents down on the day. Over in Europe there was a strong equity performance, with the STOXX 600 (+0.40%) at a 4-month high, whilst the DAX (+0.78%) hit a new record as it surpassed its previous closing high from July .

Asian equity markets are largely soaring this morning with the Nikkei (+1.78%) leading gains and with the Hang Seng (+0.73%) and the KOSPI (+0.28%) also trading in the green. Meanwhile, Chinese stocks are more mixed with the CSI (+0.15%) holding on to its gains while the Shanghai Composite (-0.11%) is slightly lower. Elsewhere, the S&P/ASX 200 (+1.74%) is also advancing despite weakness in the GDP release (more on this below). S&P 500 (+0.28%) and NASDAQ 100 (+0.42%) futures are moving higher.

In the commodities space, oil posted a further decline yesterday with news that Saudi Arabia lowered its selling prices to Asia for next month. Both Brent (-1.06% to $77.20/bbl) and WTI (-0.99% to $72.32/bbl) fell to five-month lows. Oil prices are now down more than 20% from their peaks in late September, adding to the more sanguine inflation outlook as we approach 2024.

Turning to next year’s outlook, Luke Templeman, Olga Cotaga, and Galina Pozdnyakova have just published a thematic outlook for 2024 link here. They consider six key themes and how the resilience of the world economy in 2023 has changed the way they will impact markets, corporates, and economies in 2024.

Coming back to wrap up with some data now. Overnight Australian GDP expanded +0.2% in the September quarter compared with the previous three months, marking an eighth consecutive quarter of growth. Markets were expecting GDP growth to increase to +0.5% from +0.4% growth in the previous quarter, with sizeable back revisions softening the miss. This helped annual GDP growth come in at 2.1% (v/s +1.9% expected), and little changed from the previous quarter’s downwardly revised growth of 2.0%.

Looking at yesterday’s other data, there was a bit more optimism in some of the final PMI readings for November. For example, the Euro Area composite PMI was revised up half a point from the flash reading to 47.1, and the UK composite PMI was revised up six-tenths to 50.7. Separately, we also had the ECB’s Consumer Expectations Survey for October, which showed that median 1yr inflation expectations stayed at 4.0%, and 3yr expectations were also unchanged at 2.5%. Our European economists’ recent dbDIG survey suggests that expectations should move lower next month, which would add more relief for the ECB, considering the focus on still elevated inflation expectations from some of its hawks such as in comments by Germany’s Nagel yesterday evening.

To the day ahead now, and data releases from the US include the ADP’s report of private payrolls for November, as well as the October trade balance. Meanwhile in Europe, there’s German factory orders and Euro Area retail sales for October, along with the German and UK construction PMIs for November. From central banks, there’s a policy decision from the Bank of Canada, whilst the Bank of England are releasing their Financial Stability Report.

END

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities firmer, DXY flat & Antipodeans bid on positive risk sentiment; US ADP due – Newsquawk US Market Open

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WEDNESDAY, DEC 06, 2023 – 06:02 AM

  • European bourses are modestly firmer with US futures posting gains of a similar magnitude
  • The Dollar is uneventful meandering around the 104 level; Antipodeans outperform paring back yesterday’s losses and benefiting from positive risk sentiment
  • Fixed saw initial EGB/UST divergence but Bunds have faded and move in-line with USTs which pause for breath pre-ADP
  • Crude continues to slip whilst base metals are almost entirely in the green given the risk tone
  • Looking ahead US MBAs, ADP National Employment, International Trade, Canadian Trade, NBP & BoC Policy Announcements

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EUROPEAN TRADE

EQUITIES

  • European equities, Eurostoxx50 +0.3%, are trading modestly firmer on the back of a positive handover from APAC trade overnight, though the DAX, +0.1%, marginally lags; hampered by losses in Merck -13%.
  • European sectors are mixed with a slight positive tilt; Travel & Leisure and Basic Resources outperform, with the former propped up by Tui +10% whilst the latter benefits from higher base metals prices.
  • US equity futures are also trading on a firmer footing, posting gains similar to their European counterparts; ES +0.3%.
  • Click here and here for the sessions European pre-market equity newsflow, including earnings.
  • Click here for more details.

FX

  • A choppy European morning for the Dollar thus far, within confined ranges on either side of 104.00 between 103.88-104.05 as macro newsflow this morning remains light.
  • Aussie, Kiwi and Loonie are all firmer amid the broader upbeat risk sentiment and rebound in base metals, following yesterday’s session of losses.
  • The Japanese Yen is slightly lower and back above 147.00; BoJ’s Himino suggested the central bank does not have a present schedule in mind on an exit from easy policy.
  • PBoC set USD/CNY mid-point at 7.1140 vs exp. 7.1476 (prev. 7.1127).
  • China’s major state-owned banks were seen selling dollars for yuan in the onshore spot FX market, according to sources cited by Reuters.
  • Click here for more details.
  • Click here for the Option Expires for the NY Cut.

FIXED INCOME

  • Another session of differing initial performance for Gilts and EGBs with UK debt beginning on the backfoot to the modest benefit of the region’s yields.
  • USTs in-fitting with Gilts throughout the morning, as yields lift off lows as participants take a slight pause after recent marked dovish action with ADP due.
  • Though, Bunds have retreated from the aforementioned high after failing to test touted Fib resistance at 135.27; a high that printed as part of a gradual post-data move.
  • Overall, market pricing remains extremely dovish, with participants/notes continuing to focus on Schnabel’s commentary from early Tuesday.
  • UK sells GBP 3bln 0.875% 2033 Green Gilt: b/c 2.66x (prev. 2.56x), average yield 4.091% (prev. 4.315%) and tail 1.3bps (prev. 1.3bps)
  • Click here for more details.

COMMODITIES

  • WTI and Brent, -1.1%, have resumed downward price action in recent trade having consolidated overnight; nothing by way of fresh fundamental behind the move, though attention is on Russian President Putin arriving in the UAE.
  • Base metals bolstered by the broader risk sentiment and following the gains in some major APAC markets overnight; modest upside in XAU, but well within recent ranges as we await fresh impetus on next year’s monetary expectations.
  • US Energy Inventory Data (bbls): Crude +0.6mln (exp. -1.4mln), Gasoline +2.8mln (exp. +1.0mln), Distillate +0.9mln (exp. +1.5mln), Cushing +4.3mln.
  • Saudi Arabia set January Arab light crude OSP to Asia at Oman/Dubai + USD 3.50/bbl, to NW Europe at ICE Brent + USD 2.90/bbl and to US at ASCI + USD 7.15/bbl, according to Aramco/pricing document cited by Reuters.
  • Venezuelan President Maduro said he would authorise oil exploration in an area around the Esequibo River which is a disputed territory with Guyana. It was also that US official Nichols said they are seeing Venezuela’s illicit oil trade move back into the formal sector.
  • Iran’s Revolutionary Guard Navy seized two vessels smuggling 4.5mln/ltrs of fuel, according to Tasnim.
  • Click here for more details.

NOTABLE EUROPEAN HEADLINES

  • ECB’s Kazaks says there is now no need to cut rates in H1, but if the situation changes then ECB decisions might change, via Econostream.
  • German coalition sources, to Reuters, have said that little budgetary progress was made overnight with the parties still far apart; Green leader Lang added the budget will not be discussed at Cabinet on Wednesday.
  • EU finance ministers are discussing debt reduction targets as part of a fiscal overhaul which could include a fiscal buffer of 1.5% of GDP, according to Bloomberg.
  • UK CMA says it is undertaking wider piece of work looking at competition in groceries sector, and has set out latest findings and next steps in its ongoing review.
  • BoE FSR: FPC is maintaining the UK countercyclical capital buffer (CCyB) rate at its neutral setting of 2%; The full impact of higher interest rates will take time to come through; The overall risk environment remains challenging, reflecting subdued economic activity, further risks to the outlook for global growth and inflation, and increased geopolitical tensions.

DATA RECAP

  • German Industrial Orders MM (Oct) -3.7% vs. Exp. 0.2% (Prev. 0.2%)
  • EU Retail Sales MM (Oct) 0.1% vs. Exp. 0.2% (Prev. -0.3%, Rev. -0.1%); YY -1.2% vs. Exp. -1.1% (Prev. -2.9%)
  • UK S&P Global/CIPS Construction PMI (Nov) 45.5 vs. Exp. 46.3 (Prev. 45.6)
  • EU HCOB Construction PMI (Nov) 43.4 (Prev. 42.7)
  • German HCOB Construction PMI (Nov) 36.2 (Prev. 38.3)
  • French HCOB Construction PMI (Nov) 44.6 (Prev. 41)
  • Italian HCOB Construction PMI (Nov) 52.9 (Prev. 51.8)

NOTABLE US HEADLINES

  • Nio (9866 HK/NIO) is said to be planning to spin off its battery manufacturing arm, according to Reuters sources; could happen as early as the end of the year
  • Nvidia (NVDA) CEO says plan is to continue working with the US government to come up with a new set of products that comply with new chip export regulations
  • Click here for the US Early Morning Note.

GEOPOLITICS

  • Hamas official said there will be no negotiations or exchange of detainees until the aggression against Gaza stops.
  • US President Biden will participate in a meeting with G7 leaders today and Ukrainian President Zelensky will also join the G7 leaders video summit, according to Reuters.
  • US Treasury Secretary Yellen said the US would be responsible for Ukraine’s defeat if Biden’s funding request fails to win approval by Congress and noted US aid to Ukraine is essential to keep the government operating and maintain IMF financial support to Ukraine.
  • Russian Upper House of Parliament proposes to hold elections on March 17th 2024, via Tass; will consider the election date order on December 7th.
  • Islamic Resistance in Iraq say Harir base in Erbil targeted by drone in response to the bombing of Gaza, according to Al Jazeera.

CRYPTO

  • Bitcoin, +0.2%, and Ethereum takes a breather following the prior days advances
  • Japan is to make long-term corporate crypto holdings tax-exempt, according to Nikkei.

APAC TRADE

  • APAC stocks were mostly higher with risk sentiment underpinned by softer yields as market focus remained on data releases and with the recent drop in US job openings stoking hopes for Fed rate cuts.
  • ASX 200 saw broad gains across sectors amid lower yields and with markets unfazed by mixed GDP data.
  • Nikkei 225 climbed back above 33,000 as the 10yr JGB yield declined to its lowest since August.
  • Hang Seng and Shanghai Comp were somewhat varied as the Hong Kong benchmark conformed to the overall upbeat mood, while the mainland lagged after the PBoC continued to drain liquidity and Moody’s revised China’s credit outlook to negative.

NOTABLE HEADLINES

  • Chinese official Liu said the Biden-Xi meeting cannot solve US-China problems and domestic US politics could pose problems for US-China ties, while Liu added US policy towards China is unlikely to change in the near future and the outcome of Taiwan elections may affect US-China relations.
  • Fitch said there are no further updates after it affirmed China’s A+ rating with a stable outlook in August and S&P also said there was no change to China’s credit rating or outlook, according to Reuters.
  • BoJ Deputy Governor Himino said the BoJ will patiently maintain easy policy until a sustained and stable achievement of the price target is in sight, while he added that Japan’s financial system is likely resilient enough to weather stress from transition to higher interest rates. Furthermore, Himino stated they must make appropriate decisions on the timing of the exit and procedure by scrutinising wage and inflation developments.
  • Japan is reportedly considering a tax carryover for loss-making wage hikes, via Kyodo
  • Japanese MOF official suggest some Japan primary dealers said 20yr JGB sales should be reduced, according to Bloomberg
  • Chinese November Retail Passenger Vehicle Sales Y/Y 25% (prev. 10.2% Y/Y), according to China’s PCA
  • Moody’s has placed 26 Chinese LGFVs ratings on review for a downgrade following sovereign action; Moody’s affirms Hong Kong SAR’s Aa3 rating, changes outlook to negative from stable

DATA RECAP

  • Australian Real GDP QQ SA (Q3) 0.2% vs. Exp. 0.4% (Prev. 0.4%); YY SA (Q3) 2.1% vs. Exp. 1.8% (Prev. 2.1%)

WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 3.36 PTS OR 0.11%  //Hang Seng CLOSED UP 135.40 PTS OR 0.83%           /The Nikkei CLOSED UP 670/08 PTS OR 2.04% //Australia’s all ordinaries CLOSED UP 1.61 %   /Chinese yuan (ONSHORE) closed DOWN AT 7.1531   /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1694 /Oil DOWN TO 71.68 dollars per barrel for WTI and BRENT  DOWN AT 76.46/ Stocks in Europe OPENED ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

2 d./NORTH KOREA/ SOUTH KOREA/
//

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

end

3 CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EUROPE/ISLAMISTS

Extreme warning to Europe that there are a network of Hamas operatives active across the continent

(Jerusalem Post)

Warning to Europe: ‘Network of Hamas operatives active across continent’

Personal letters to about 20 European leaders warning of the growing activism of Hamas across Europe.

By MAARIV ONLINEposts[i].image.ImageName (photo credit: REUTERS/KAI PFAFFENBACH)A boy holds a Palestinian flag at a demonstration in support of Palestinians in Gaza, during a temporary truce between Palestinian Islamist group Hamas and Israel, in Frankfurt, Germany, November 25, 2023(photo credit: REUTERS/KAI PFAFFENBACH)

Israel’s Diaspora Affairs Ministry sent personal letters to about 20 European leaders, signed by Diaspora Affairs Minister Amichai Chikli, which included evidence of the terrorist activity of Hamas activists and operatives of the Popular Front for the Liberation of Palestine (PFLP) in major cities across the continent.

“Weeks have passed since the barbarism that Hamas committed against infants, children, the elderly, and thousands of Israeli citizens. This is not the time for ambiguity. I want to clarify this unequivocally. Hamas has proven that their goal is to kill Jews everywhere,” Chikli wrote.

“Since the massacre, calls for violence against Jews worldwide have increased by 120% – a shocking statistic. Unfortunately, Hamas’s bloodlust is not limited to Israel and Jews but also extends to Europe and Christians. I want to remind you that in the past, Hamas members expressed the Islamic intention to conquer Europe.”

The letters were sent to leaders in Italy, Belgium, the Netherlands, Sweden, the UK, Denmark, the Czech Republic, Hungary, Greece, Germany, and representatives of the European Union.



Demonstrators protest in solidarity with Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Duesseldorf, Germany, October 21, 2023 (credit: REUTERS/THILO SCHMUELGEN)Demonstrators protest in solidarity with Palestinians in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Duesseldorf, Germany, October 21, 2023 (credit: REUTERS/THILO SCHMUELGEN)


‘Must be uprooted and eradicated’

“Hamas has been operating for many years worldwide, mainly through covert humanitarian donations,” Tzur Bar-Oz, Head of the Research and Foreign Relations Division at the Diaspora Affairs Ministry stated. “It is a complex network of hatred operating in many countries, including Western and highly democratic ones. This phenomenon must be uprooted and eradicated as soon as possible. This activity has already yielded results and produced consequences.”

In addition to the minister’s personal appeal, the letters included evidence that vilifies the activists, including statements, posts praising Hamas’s activity on social media, and more. The goal is to make these countries understand that it is a real threat and act to eliminate it.

Certain examples that were presented in the letters include, Mohammed Ahmed Hanon, an Italian resident, and head of the “Charity Association for Palestinian Support” (ABSPP) in Italy, which was part of the “Union of Good,” designated illegal in Israel and the US (2008) for transferring funds to Hamas. In 2021, the accounts of the association were closed due to suspicious transactions. Photos of him with Hamas leaders, including Ismail Haniyeh, and receiving an honor from the organization’s senior figure Ahmed Barhoum, were presented. Hannon also praised and glorified Hamas leaders and displayed Hamas flags on his Facebook page.

Another example is Amin Abu Rashad, who in 2023 was arrested on suspicion of transferring millions of euros from Europe to Hamas through seemingly charitable organizations. Evidence was presented to support terrorism and terrorists. Abu Rashad published a post praising the “hands” that carried out stabbing attacks in Jerusalem in the early wave of knife terrorism in October 2015.

Mohand Halabi, who murdered Nehemia Lavi and Aharon Bennett in Jerusalem and wounded Bennett’s wife and 2-year-old son (October 2015).

Muhammad Suwala (Abu Obada), was a member of Hamas’s military wing in the West Bank in the late 80s when the movement was established and a member of Hamas’s political bureau from 2013-2017. Currently residing in the UK, Suwala played a key role in planning the Marjayoun ambush (2010). Declared by the Minister of Security (2013) as part of an illegal association while being part of Hamas. Sualeha expressed support for suicide bombings during the second intifada (2001).

NGO Samidoun Palestinian Prisoner Solidarity Network was declared a terrorist organization as part of the PFLP in 2012. Its representatives operate in many 

European and North American countries, led by Khaled Barakat, a senior member of the PFLP, involved in establishing military cells and promoting terrorist activity in Israel and abroad. The formal goal is to assist Palestinian prisoners in their struggle to be released from prison, but in practice, it serves as a ‘protective body’ operating under the cover for the PFLP abroad.

“We hope that the leaders of the countries understand what Hamas is,” Bar-Oz concluded. “And that these are extreme people who pose a threat to citizens worldwide, not just Jews and not just in Israel. We are already seeing a response from certain countries on the ground.”Go to the full article >

END

ITALY/CHINA

Italy exits China’s silk road initiative citing lack of expected results. A big blow to China!

(zerohedge)

Italy Exits China’s Silk Road Initiative Citing ‘Lack Of Expected Results’

WEDNESDAY, DEC 06, 2023 – 09:40 AM

The government of Italian Prime Minister Giorgia Meloni has officially notified China about Italy’s withdrawal from the Belt and Road Initiative. This move confirms the months-long speculations that Rome was planning to cease its involvement in Beijing’s global infrastructure program, in which Chinese banks finance projects from highways, ports, railways, power plants, and telecommunications infrastructure. 

Bloomberg quoted Foreign Minister Antonio Tajani, who said BRI “has not produced the desired effects” and is no longer “a priority.” 

Tajani spoke at an event in Rome earlier today hosted by newswire Adnkronos. He said countries ex-BRI “have better results” in terms of economic growth. 

Data from Bloomberg shows Italy’s trade deficit with China exploded following the BRI deal, making the European country even more dependent on supplies from China. 

Italy was the first Group of Seven (G7) countries to join the BRI in 2019. With its five-year memorandum of understanding up for renewal, Italy has chosen to withdraw from the deal. 

Since Meloni took office last year, she has made it very clear that she is withdrawing from the BRI. She said joining was a “big mistake.” 

Recently, Italian Defense Minister Guido Crosetto described Italy’s decision to join the BRI as an “improvised and atrocious act.”

A Reuters source said Beijing was handed the termination letter “in recent days.”  

“We have every intention of maintaining excellent relations with China even if we are no longer part of the Belt and Road Initiative,” a second government source said.

“Other G7 nations have closer relations with China than we do, despite the fact they were never in (the BRI),” the source added.

This comes as Europe has been caught in the crossfire of worsening relations between Washington and Beijing. 

Meanwhile, China’s ambassador to Italy, Jia Guide, warned there would be “negative consequences” for the BRI exit. 

Italy’s withdrawal is another blow to Beijing as BRI countries grapple with debt distress

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

last 24 hr report:

Israel-Hamas War Day 61: IDF tightens circle on Hamas in Khan Yunis

Israel reportedly preparing to flood the Hamas tunnel network in Gaza • 120 Russians evacuated from Gaza to Russia

By JERUSALEM POST STAFFThe IDF operates in the Gaza Strip. December 6, 2023. (photo credit: IDF)The IDF operates in the Gaza Strip. December 6, 2023.(photo credit: IDF)

IDF steps up fight against Hamas in south Gaza; UN says 80% of population displaced

Military death toll from ground operation rises to 83; US said to expect heavy fighting to wrap up in January, move to less intense phase of war

image.png

Israeli troops engaged in heavy fighting with Hamas operatives in the Gaza Strip throughout Tuesday night and into Wednesday morning while striving to minimize the damage done to civilians and civilian infrastructure in the over-crowded southern part of the coastal enclave.

On Wednesday morning, the Israel Defense forces said that while troops engaged in fierce battles with Hamas on the ground, the air force had carried out strikes against more than 250 targets over the last day.

The 7th Armored Brigade directed airstrikes at two rocket launchers used to lob barrages at central Israel on Tuesday, the IDF said in a statement, and added that several Hamas and Palestinian Islamic Jihad operatives and their infrastructure were hit during air force strikes.

In northern Gaza, where the Kfir Infantry Brigade started operating for the first time since Israel’s withdrawal from the Strip in 2005, troops killed a group of Hamas operatives near a school, the IDF said, adding that a destroyed tunnel shaft and weapons were subsequently uncovered in the area. Troops also found weapons in a school elsewhere in the northern part of the enclave.

The IDF also announced on Wednesday morning the deaths of two reservists.

Sgt. First Class (res.) Yehonatan Malka, 23, from Beersheba, a member of the 7th Armored Brigade’s 82nd Battalion, was killed fighting in Gaza, bringing the death toll of the military’s ground operation to 83.

The second was Lt. Col. (res.) Yochai Gur Hershberg, 52, from Havat Philip, a commander of a unit in the 98th Division tasked with locating missing persons. He was killed in a military-related car crash in southern Israel.

This composite photo shows Sgt. First Class (res.) Yehonatan Malka (L) and Lt. Col. (res.) Yochai Gur Hershberg, who the Israel Defense Forces announced were killed on December 6, 2023. (Israel Defense Forces)

On Tuesday evening, IDF Spokesman Rear Adm. Daniel Hagari pointed to the fighting in Khan Younis as proof that Israel was operating within the boundaries of international law in efforts to protect the large number of civilians in southern Gaza.

“We are proving that our forces are surrounding the center of Khan Younis while respecting international law… we are showing the world that we can do this, simultaneous with humanitarian efforts,” he said.

“This will allow us to manage the fighting over time. To strike a terrorist group that uses civilians as human shields, and hides underground, we need time.”

The IDF believes that much of the Hamas leadership is hiding in Khan Younis after fleeing northern Gaza earlier in the war, and that many of the hostages Hamas seized on October 7 are being held there as well.

The number of hostages believed to still be held in Gaza was raised from 137 to 138 people after military intelligence concluded that one of the people who had been declared missing since the Hamas onslaught on October 7 is a hostage. The number includes two Israeli civilians who entered the coastal enclave of their own accord in 2014 and 2015, respectively — Avera Mengistu, a Jew of Ethiopian origin, and Hisham Al-Sayed, a Bedouin Muslim — as well as the bodies of two soldiers killed in 2014, Oron Shaul and Hadar Goldin.

Of the estimated 240 hostages taken by Hamas during its massacre, 110 were released during a seven-day temporary ceasefire last week before Hamas broke the truce on Friday and the fighting resumed.

Calling those taken hostage by Hamas “heroes,” Hagari said on Tuesday night that they “acted courageously, both before and after [being released]. They fought cowardly, vile terrorists who took children and women hostage in Gaza.”

Palestinians are seen at a temporary camp set up for people who were evacuated from their homes near the Egyptian border in Rafah, in the southern Gaza Strip on December 5, 2023. (Atia Mohammed/Flash90)

While Hagari warned that the military is expecting a “long war” in Gaza, the US is reported to believe that Israel could wrap up large-scale military operations in the southern Gaza Strip by January, and then shift to more targeted attacks on specific Hamas terrorists and leaders.

Citing multiple senior US administration officials, CNN on Tuesday night said that the White House is concerned about how the IDF’s offensive will play out in the coming weeks and has warned Israel to limit damage and civilian casualties.

A senior official quoted in the report said they aren’t comfortable using the word “receptive” to describe Israel’s response to the US advice.

A senior administration official also said Israel appears unlikely to achieve its objective of preventing Hamas from being able to carry out another attack like that of October 7 by the end of the year, and that instead, forces will continue to pursue that goal as part of a “longer-term campaign” when the fighting evolves into a new phase.

“We are in a high-intensity operation in the coming weeks, then probably moving to a low-intensity mode,” an Israeli official told CNN, confirming the expected transition.

Last week, US Secretary of State Antony Blinken warned Israel’s war cabinet that it likely doesn’t have months to fight Hamas, as domestic and international pressure mounts on President Joe Biden’s administration to end the war.

On Tuesday evening, Prime Minister Benjamin Netanyahu alluded to expected US pressure on Israel to end the fighting in the near future.

Addressing “our friends in the world who are pressing for a fast end to the war,” Netanyahu said that “the only way for us to end the war, and end it quickly, is to use crushing force against Hamas — crushing force in order to destroy it.”

He also lauded the IDF’s achievements in the Gaza Strip, and claimed that Israel has killed “about half of Hamas’s battalion commanders.”

Prime Minister Benjamin Netanyahu (left), Defense Minister Yoav Gallant (center) and Minister Benny Gantz deliver remarks on December 5, 2023. (Screen capture: PMO)

The terror group is understood to have some 24 battalions fighting in Gaza.

“We are settling accounts with all those who kidnapped, participated, murdered, slaughtered, raped and burned the daughters of our people. We will not forget and we will not forgive,” he said.

As the ground operation has proceeded in the past days, he said, “the ground shook” in Khan Younis and Jabaliya — “we surrounded both… There is nowhere we do not get to.”

The IDF and Shin Bet security agency revealed previously unseen footage on Tuesday evening that showed senior Hamas commanders inside the terror group’s tunnels in the northern part of the Gaza Strip.

The image depicted the senior command of Hamas’s northern Gaza brigade sitting in a narrow room around a table of food, which it said was taken several months ago. Though fitted with tile floors and wall outlets, an arch in the back can be seen indicating that the room is part of Hamas’s vast underground network.

This image obtained by the Israel Defense Forces depicts commanders of Hamas’s northern Gaza brigade in a tunnel. The photo was released by the IDF and Shin Bet on December 5, 2023. (Courtesy)

According to the IDF, five of those in the picture were killed in Israeli airstrikes since the war began, including Wael Rajab, the deputy commander of Hamas’s northern Gaza brigade.

Another video released showed Rajab walking through a tunnel in the Strip.

The IDF said the footage was obtained from findings seized in the Gaza Strip by troops and analyzed by the Military Intelligence Directorate.

Meanwhile, the widening air and ground offensive in southern Gaza has displaced tens of thousands more Palestinians and worsened the enclave’s dire humanitarian conditions, as the United Nations reported that 1.87 million people — more than 80% of Gaza’s population — have been driven from their homes since October 7.

The UN warned on Tuesday night that limited humanitarian aid is being delivered to the Rafah region in southern Gaza because of the intense hostilities, and that all telecom services have shut down due to cuts in the main fiber routes.

UN spokesman Stephane Dujarric said that only 100 aid trucks with humanitarian supplies and 69,000 liters of fuel entered Gaza from Egypt on Monday, about the same amount as Sunday.

That is well below the daily average of 170 trucks and 110,000 liters of fuel that entered Gaza during the humanitarian pause of November 24-30, he said.

Dujarric quoted Lynn Hastings, the UN humanitarian coordinator in the Palestinian territories, saying, “Shelters have no capacity, the health system is on its knees, and there is a lack of clean drinking water, no proper sanitation and poor nutrition.”

Palestinians fleeing the Israeli ground offensive against Hamas arrive in Rafah, Gaza Strip, Tuesday, December 5, 2023. (AP Photo/Hatem Ali)

On X, COGAT, the Israeli body that coordinated the aid deliveries, quoted Hastings’s claim that the conditions for the delivery of aid do not exist, publishing a picture showing a line of dozens of trucks outside the Strip.

“The conditions required to deliver aid to the people of Gaza exist. We’ve completed all the necessary logistics to make it happen. Now, the #UN has to keep up,” it wrote.

Dujarric said that there are no safe places in Gaza and that “those places that fly the UN flag are not safe either.” The main telecommunication provider in Gaza announced the shutdown of all telecom services Monday night, he noted.

Israel’s war with Hamas was triggered by the terror group’s deadly onslaught on October 7. Thousands of Hamas-led terrorists poured into southern Israel from the land, air, and sea, unleashing terror across more than 20 communities, killing more than 1,200 people, including around 360 people who were mown down at an outdoor music festival, and taking some 240 hostage.

In response, Israel vowed to eliminate Hamas from the Gaza Strip, which the terror group has ruled since 2007, and launched an aerial campaign and subsequent ground offensive.

The Hamas-run health ministry in the Gaza Strip has said that Israel has killed more than 16,000 people so far, most of them women and children. Those figures cannot be independently verified, and are believed to include both Hamas terrorists and civilians, and people killed as a consequence of terror groups’ own rocket misfires.

According to military estimates, some 5,000 Hamas members have been killed in the Gaza Strip, in addition to more than 1,000 terrorists killed in Israel during and immediately after the October 7 onslaught.

Agencies contributed to this report.

END

Rockets fired at Eilat , Ashkelon and Gaza border towns

(Jerusalem Post)

Rockets fired at Eilat, Ashkelon, Gaza border towns; IDF says fierce battles in Strip

Man lightly injured when rocket hits border community * Military announces deaths of two more soldiers * US said to believe Israel could wrap up south Gaza major ops by January

END

HEZBOLLAH/ISRAEL


IDF says it’s shelling Hezbollah targets in Lebanon after repeated attacks by terror group

By EMANUEL FABIAN

The IDF says it has been shelling Hezbollah sites in southern Lebanon with artillery and tank fire since this morning.

An IDF drone also hit a Hezbollah command room and another site belonging to the terror group, it says.

The strikes come amid repeated Hezbollah attacks on northern Israel.

A short while ago, several rockets were fired at IDF posts along the border.

The IDF says it is responding with artillery shelling at the sources of the fire.

END

WEST BANK/ISRAEL

IDF, Shin Bet, Border Police engage terrorists, destroy tunnels in West Bank city of Jenin

The Israeli forces destroyed two underground tunnels as well as three facilities dedicated to the production of explosives during the West Bank operations.

By JERUSALEM POST STAFFposts[i].image.ImageName (photo credit: IDF)Israeli security forces operate in the West Bank. December 5, 2023.(photo credit: IDF)

During operations in the West Bank Palestinian city of Jenin, the IDF, Shin Bet, and Border Police, demolished explosives manufacturing laboratories, destroyed underground shafts, located weapons and combat gear, and arrested terrorism suspects, the IDF said on Wednesday.

Overnight on Tuesday under the command of the Menashe Brigade, reservists from the Duvdevan commando unit, LOTAR special forces, and Border Police concluded their operational activity in Jenin.

The operations, which began earlier on Tuesday afternoon, successfully concluded with the arrest of ten suspects, the IDF stated.

Israeli forces confiscate weapons and combat gear during West Bank operation. December 5, 2023. (Credit: IDF)

West Bank terror tunnels

Additionally, the Israeli forces destroyed two underground tunnels as well as three facilities dedicated to the production of explosives. The facilities contained numerous explosives at the time the IDF, Border Police, and Shin Bet located and destroyed them.

The IDF added that it also confiscated weapons, disarmed explosive devices, ammunition, military equipment, and thousands of shekels in funds for terror activities.

Israeli security forces locate underground shafts in the West Bank city of Jenin. December 5, 2023. (credit: IDF)Israeli security forces locate underground shafts in the West Bank city of Jenin. December 5, 2023. (credit: IDF)

Over the course of the activities in the Palestinian cities, terrorists engaged the Israeli forces, with the two sides exchanging fire, the IDF said. Additionally, the Israeli troops reported that explosives were thrown at them, and one soldier was lightly injured.

The injured soldier was quickly evacuated for medical treatment.

In other places in the West Bank, Israeli security forces arrested sixteen wanted individuals, three of whom were affiliated with Hamas. 

In Shuqba and Kalkilya, the Israeli forces located a handgun, drone, and ax were located.

The IDF also confirmed a hit on a target in Tammun after terrorists fired and threw explosives at the troops operating in the area.

In Halhoul the Israeli troops located a printing press used for printing inciting materials used to promote Hamas.

The arrested individuals and confiscated ordnance were subsequently transferred to relevant authorities.Go to the full article >>

END

YEMEN/HOUTHIS/USA/ISRAEL

US Officials Accuse Biden Admin Of Downplaying Attacks From Iran-Backed Houthis

TUESDAY, DEC 05, 2023 – 10:45 PM

Via The Cradle

Some US officials are criticizing the Biden administration for deliberately downplaying the threat from Yemen’s Houthis on US naval forces, Politico reported Tuesday. The criticism follows an attack on Sunday on several commercial vessels in the Red Sea, which forced a US Navy warship to scramble to respond.

The Yemeni resistance movement launched missiles and drones against three separate commercial vessels. The USS Carney fired back, taking down three unmanned aerial drones. It is unclear whether the US Navy ship was also a target of the attack or was simply coming to the aid of the commercial vessels. 

Defense Department and Biden administration officials, including national security adviser Jake Sullivan, have said the US “cannot assess” whether the USS Carney was the target of the attacks. Via AP

After previous Houthi drone and missile attacks on commercial shipping vessels, the Pentagon said officials did not believe the group was targeting the warships.

But four other officials with knowledge of the discussions said in interviews with Politico that Biden administration officials are playing down the threat to avoid an escalation amid Israel’s war with Hamas in Gaza.

The Houthis have made clear it is targeting commercial ships with ties to Israel, and has launched missiles toward the Israeli port city of Eilat in support of the Palestinians.

“If our ships see something is coming near them or toward them, they are going to assess it as a threat and shoot it down,” said one Pentagon official. “You’d be hard-pressed to find another time” US ships have been this challenged in the region.

A separate US official argued that not only Israeli, but also US ships are indeed threatened. “People are thinking this is an Israel thing, and because they are heavy-handed in Gaza no one is saying anything,” the official said. “The world should be condemning this.”

A second US official acknowledged that the US has deliberately avoided acknowledging its warships are a target because they are “trying to avoid unnecessary escalation.” But the official also pointed out that the administration has not said definitively that its warship was not targeted. “We are not hesitating to take action against forces or militia groups that could be a threat to our forces,” the official said.

Some Pentagon officials argue that attacks on commercial shipping already constitute an escalation. Admiral Christopher Grady, vice chair of the Joint Chiefs of Staff, stated the attacks on international shipping in the Red Sea are “a big deal,” while blaming them on Iran, which supports the Houthis.

“There’s undoubtedly an Iranian hand in this. So this looks a little bit like horizontal escalation,” he claimed.

National Security Advisor Sullivan also blamed Iran, stating “We have every reason to believe these attacks, while they were launched by [Ansarallah] in Yemen, are fully enabled by Iran.”

Some current US officials did not rule out the possibility that the administration will respond to the Houthi attacks in the Red Sea, while some former US officials are calling specifically for it. “If we make the assessment or feel the need to respond, we will always make that decision at a time or place of our choosing. That is a decision that the [defense secretary] will also make in conjunction with the president,” said a second Pentagon official.

“Near to immediate term, where are the strikes on [Houthi] targets?” wrote Marc Polymeropoulos, former CIA official, on X. “Need to see this ASAP.” Retired Vice Adm. John Miller, the former commander of US 5th Fleet, said that “We are not taking this seriously.” Miller said, “We’re not deterring anybody right now.”

END

Biden, the “Magnificent” silent again!

(Jerusalem Post)

YEMEN/HOUTHIS/ISRAEL

New Houthi threats to ships in Red Sea, Eilat

In a statement, the Iran-baked Houthis have said that their attacks on ships are designed to target ships linked to Israel.

By SETH J. FRANTZMANposts[i].image.ImageName (photo credit: IDF SPOKESPERSON'S UNIT)Israel Navy missile ships head to the Red Sea after several aerial intrusions by Houthi drones, November 1, 2023

(photo credit: IDF SPOKESPERSON’S UNIT)

The Iran-backed Houthis have threatened ships in the Red Sea and Israel again on Wednesday, December 6.

The UK’s Maritime Trade Operations (UKMTO) agency said that it had “received a report of an incident involving an Uncrewed Aerial System (UAS) in the vicinity of position 1425N 04212E, 47nm west of port Hodeidah, Yemen.”

Hodeidah is an important port in Yemen.

According to Al-Arabiya, the reports led to warnings for ships transiting the area. “British maritime security company Ambrey also said on Wednesday it was aware of a drone incident in the same area and that it was investigating.

There were no further details about the reported incident, which follows a series of attacks in Middle Eastern waters since war broke out between Israel and the Palestinian terrorist group Hamas on October 7,” Al-Arabiya said.

Newly recruited fighters who joined a Houthi military force intended to be sent to fight in support of the Palestinians in the Gaza Strip, march during a parade in Sanaa, Yemen December 2, 2023. (credit: REUTERS/KHALED ABDULLAH)Newly recruited fighters who joined a Houthi military force intended to be sent to fight in support of the Palestinians in the Gaza Strip, march during a parade in Sanaa, Yemen December 2, 2023. (credit: REUTERS/KHALED ABDULLAH)

An hour and a half after the UKMTO report, sirens sounded in Israel’s southern city of Eilat at around 13:11 due to a missile threat. The UKMTO report had been around 11:40 am. It is not clear if the two incidents are connected.

The IDF said, “Following the report regarding sirens that sounded in the city of Eilat, a launch of a surface-to-surface missile toward Israel was identified, and was successfully intercepted in the area of the Red Sea by the Arrow Aerial Defense System.”

The IDF added that the “target did not cross into Israeli territory, did not pose a threat to civilians, and the sirens that sounded were according to protocol.”

Additional incidents

The report by UKMTO follows another report on December 3 of multiple incidents near the Bab al-Mandeb straits.

At the time, US Central Command said that “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.”

The Houthis have threatened shipping. In a statement this week, they also said that their attacks on ships are designed to target ships linked to Israel. They also claim this has had an impact on Israel.

The Houthi Al-Masirah media highlighted its anti-ship missile capabilities on December 6. Houthi media and US Central Command did not mention the December 6 incidents as of the time of this report. This is a developing story. Go to the full article >>

END

LATE THIS AFTERNOON:

Netanyahu: Israeli forces are surrounding Sinwar’s home

By JERUSALEM POST STAFFDECEMBER 6, 2023 19:08

Prime Minister Benjamin Netanyahu stated that Israeli forces were surrounding the home of Hamas leader Yahya Sinwar on Wednesday, just a few hours after reports by Arabic media claimed the same.

“Yesterday I said that our forces can reach anywhere in the Gaza Strip. Now they are surrounding Sinwar’s house. So his house is not his fortress, and he can escape, but it’s only a matter of time before we get him,” said Netanyahu.

The prime minister additionally called on the Red Cross to visit Israeli hostages being held by Hamas, saying he had spoken with the president of the Red Cross and asked her to speak to Qatar and have them pressure Hamas to let the Red Cross in.

Simultaneously, other IDF forces from Division 98 have surrounded the whole city from the outside.

People walk at the site of an Israeli strike in Khan Younis, in the southern Gaza Strip, on November 18, 2023 (credit: REUTERS/IBRAHEEM ABU MUSTAFA)
People walk at the site of an Israeli strike in Khan Younis, in the southern Gaza Strip, on November 18, 2023 (credit: REUTERS/IBRAHEEM ABU MUSTAFA)

Some of Hamas’s top command posts have been overrun and already 30 tunnel shafts have been destroyed, though Hamas still has a vast additional tunnel network that has not yet been cleaned out.

Already, IDF forces have also destroyed terror items hidden in a mosque in Khan Yunis, as often has occurred in the last month in northern Gaza.

The IDF noted that Khan Yunis is the home of Hamas leaders Yahya Sinwar, Muhammad Sinwar and Muhammad Deif.

“The battle for Khan Yunis is a central priority. I am impressed that it is being carried out well: that we have a handle on all the details and that we are pressing forward,” said Finkleman.

Finkleman stated, “There are centerpieces of the mission and we will go forward with this. Continue to take this forward. We will send to here anything that is needed [in terms of reinforcements and joint air attacks] and push forward at all times.”

The fight for Khan Yunis is considered the most crucial remaining battle over the Gaza Strip given that the IDF has already controlled most of Gaza City in northern Gaza for the last few weeks, and that Hamas’s high command and many of the hostages are believed to be there.

The takeover of Khan Yunis

A massive force of multiple brigades, including from Division 162, was thrown into the onslaught to take over Hamas’s most crucial city in southern Gaza on Monday night.

The air force accompanied the ground forces thrust into Khan Yunis with significant attacks to eliminate Hamas command and control capabilities.

Civilians from Khan Yunis had been directed to evacuate further south to Rafah as well as to a safe area toward the west of Khan Yunis.  

At the same time as the attacks on Khan Yunis, the IDF sent a large and hard-hitting force, including Divisions 162 and 36, into Shejaia, known as Hamas’s greatest remaining stronghold in northern Gaza.

END

LATE THIS AFTERNOON:

NOT SO SURE THIS IS A GOOD IDEA! ( HARVEY: WAQF IS ARABIC FOR THE MOSQUE SITTING ON TEMPLE MOUNT)

Temple Mount groups plan ‘March of the Maccabees’ through Jerusalem’s Old City

The march has been approved by Israel Police.

By TZVI JOFFREDECEMBER 6, 2023 20:04

Young Jewish men holding Israeli flags as they dance at Damascus Gate in Jerusalem's Old City, during Jerusalem Day celebrations, May 29, 2022. (photo credit: OLIVIER FITOUSSI/FLASH90)
Young Jewish men holding Israeli flags as they dance at Damascus Gate in Jerusalem’s Old City, during Jerusalem Day celebrations, May 29, 2022.(photo credit: OLIVIER FITOUSSI/FLASH90)

https://trinitymedia.ai/player/trinity-player.php?pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-776878&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&version=20231206_5d58ee052747470e50e75bb52657456a7f7b296f&useBunnyCDN=0&themeId=140

Temple Mount activists plan to conduct a march through the Old City of Jerusalem on Thursday, with organizers saying the march aims to call for the removal of the Waqf from the Temple Mount.

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According to a poster advertising the march, the march will also include a memorial for those murdered in terrorist attacks and a call to have full Jewish control over Jerusalem and the Temple Mount.

The march has been approved by Israel Police.

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The march will begin at Tzahal Square and continue through the Damascus Gate toward the Western Wall.

JEWS VISIT the Temple Mount, earlier this year. (credit: JAMAL AWAD/FLASH90)
JEWS VISIT the Temple Mount, earlier this year. (credit: JAMAL AWAD/FLASH90)

The organizers of the event include the Hozrim Lahar, Torat Lehima, and Beyadenu movements, among other organizations.Advertisement

Iranian influence operation promoting Hanukkah march

Israeli journalist Bar Shem-Ur reported on Tuesday that an Iranian influence operation pretending to be an Israeli right-wing social media account called “Haegrof” (“The Fist”) had promoted the march as well. The operation’s Instagram account has its location listed as Iran.

In response to criticism of the march, right-wing activist Baruch Marzel stressed to Army Radio that “Gaza is a result, the main incitement takes place at the Temple Mount, the most sacred place for Jews which is not sacred at all for Muslims.”

“The march is meant to point to the root of the problem which is that in the heart of the capital of Israel, they are telling Arabs to continue to support Hamas, to praise [Al-Qassam commander Mohammed] Deif and [Hamas leader Yahya] Sinwar. We want that Jewish sovereignty there to be much stronger.”

Marzel rejected claims that the march would cause tensions to flare, saying “before Simchat Torah, it was absolutely quiet, there were no marches, nothing, and the Arabs entered and massacred the residents of Beeri, who loved them, therefore the time has come to stop giving Arabs an ‘excuse’. They don’t need an excuse to massacre us. They want to massacre us every day.”

Marzel insisted that the march would improve the security of Jerusalem, not harm it.

Yair Yitzhaki, former commander of the Jerusalem District of Israel Police, told Army Radio that he believes that the march aims to incite violence, saying “why does it need to go through Damascus Gate, why not the Jaffa Gate? They’re trying to cause anger, to heat things in any way possible. I cannot understand how a country that wants life and peace behaves like this, it makes moves that are like an autoimmune disease that harms itself.”

END

LT COL. RICHARD HECHT

New Ground and Aerial Insights

The latest updates on Israel’s war against Hamas.

LT. COL. RICHARD HECHTDEC 6
 
READ IN APP
 

In a press briefing yesterday afternoon, I presented new information on a key Hamas stronghold secured by the IDF in Gaza City.

The al-Shati area was used by Hamas for various aspects of its military activity. Senior Hamas commanders operated out of al-Shati, using it as a base to launch attacks – including the October 7th massacre – against Israel and IDF troops.

Our ground operations have been focused on dismantling Hamas’ capabilities in the area.

In this new video, IDF Battalion Commander LTC Dotan gives you an inside look into what exactly we found in al-Shati after the IDF took control of the area:

It may be surprising to some that we found so many deadly weapons inside homes and schools. Sadly, however, this is just one example of a strategy deployed by Hamas throughout the Gaza Strip.

This is the reality of fighting against a terrorist organization with no value for human life or dignity.

For the IDF, our values, morals and principles guide us every step of the way on the battlefield.

Our military strength and moral fiber will ultimately carry us to victory over Hamas and all that it stands for.

Thanks for reading Mission Brief from LTC Richard Hecht (Official IDF Substack)! Subscribe for free to receive new posts in your inbox:

Subscribed

Eye from the Sky

I want to give you an insight into one of the units providing crucial intel for our troops on the ground in Gaza.

Meet the Sky Rider Unit.

The men and women of the unit – which is part of the IDF Artillery Corps – operate UAVs, including the “Skylark” drone, to provide VISINT (visual intelligence) for troops on the ground. 

This cutting-edge UAV technology is used to guide soldiers toward terror targets in real-time.

The unit also has an important role in mitigating harm to civilians. CPT (res.) T. recalls one such incident:

“Near the point where we spotted a rocket launcher, we saw a van with people getting out of it with equipment. We already had a ZIK UAV ready to go, we were prepared for any scenario, but thanks to the thorough examination we did in the field, we realized this was a civilian family and immediately halted the activity.”

The unit faces many operational challenges in our war against Hamas, but continues to adapt and excel on the battlefield.

Proud of them all.

Operational Updates:

Gaza

  • On Tuesday,IDF activity focused on the Jabalya,Shuja’iyya and Khan Yunis areas. IDF troops continued to operate in Hamas strongholds, which included striking terror cells, destroying terrorist infrastructure, securing key military posts, and locating weapons in civilian compounds.

North

  • Several launches were identified crossing from Lebanon into northern Israel over the course of the day. Following these launches, fighter jets struck a number of Hezbollah terror targets, including terrorist infrastructure and military posts used for weapons storage and by terrorist operatives.

Quote of the Day

“We – the soldiers of the IDF – will do everything, everything, to repair what has been damaged. For the murdered, this repair is too late. For the life and continuity of life in the State of Israel, it is essential. We will not stop until we complete the mission.”

  • Chief of the General Staff, LTG Herzi Halevi

What I’m eating:

It’s December, which means assortments of British chocolates are in season:

Thank you for reading Mission Brief from LTC Richard Hecht (Official IDF Substack). This post is public so feel free to share it.

END

UKRAINE/RUSSIA

Looks like the money laundering game is coming to an end

(zerohedge)

Zelensky Abruptly Cancels Address To Senators, Lashes Out At Failure To Secure More Taxpayer Funds

TUESDAY, DEC 05, 2023 – 05:45 PM

On Tuesday Ukraine’s President Volodymyr Zelensky unexpectedly canceled at the last minute a planned appearance via video link before US Senators mulling an emergency aid package containing over $60 billion for Kiev.

Senate Majority Leader Chuck Schumer was the one to announce it to reporters: “Zelensky by the way could not make it to — something happened at the last minute — to our briefing,” Schumer said.Zelensky’s prior in-person visit to Capitol Hill, via CQ Roll Call

With just weeks to go before Ukraine aid stops flowing, and amid a row in Congress which threatens to discontinue the war funding, Ukraine is now saying it will lose the war if it can’t access more US funds and weaponry.

Zelensky’s chief of staff issued the words Tuesday: 

If the United States postpones military aid to Ukraine, there is a “big risk” the country could lose its war with Russia, Ukrainian President Volodymyr Zelenskyy’s chief of staff Andriy Yermak said Tuesday. 

Speaking at the U.S. Institute for Peace during a visit to Washington, Yermak said failure by Congress to approve more aid to Ukraine could make it “impossible” to liberate more territory captured by Russia and “give the big risk to lose this war.”

“If the help which (is) now debating in Congress will be just postponed. … It gives the big risk that we can be in same position (where) we’re located now,” said Yermak, speaking in English.

“That is why it is extremely critically important that this support will be voted and will be voted as soon as possible,” he said.

But the reality is that Ukrainian forces were already losing the war, given top US officials have long acknowledged the counteroffensive has stalled and failed, even with all the weapons the US has already poured in.

Thus Yermak’s statements seem more like an early blame-game: Ukraine seems to be saying it will be Washington’s fault when the war is lost, and Kiev is forced to negotiate and cede territory.

Senate Republicans have tied Biden’s foreign defense funding to tackling the migrant crisis at the southern border, prolonging the Ukraine aid holdup further.

Interestingly, the Senate forum that Zelensky was to address involved a classified briefing. Likely he realized he was not going to convince anyone, and his ‘star status’ has long since been in decline. At this moment, even the mayor of Kyiv is attacking him, calling Zelensky an “autocrat” and “corrupt” – and saying Ukraine is losing because of this.

END

Ukraine/German Newspaper Welt)

The big German newspaper Welt claims that Ukraine is crumbling! Something that we have been stating for months

(Cody/ReMix)

“Has Kyiv Already Lost?” – Germany’s Welt Newspaper Claims Ukraine Is “Crumbling” & That Orbán Was Right But “Nobody Dares Admit It”

WEDNESDAY, DEC 06, 2023 – 02:00 AM

Authored by John Cody via ReMix News,

Germany’s Welt newspaper, perhaps the most popular publication in the country, is well known for its pro-Ukraine stance and ran numerous articles in the past about the likely success of Ukraine’s military offensive against Russia.

However, in a column published yesterday by the paper’s chief correspondent, Sascha Lehnartz, the assessment of Ukraine’s chances in the war is decidedly bleak.

Entitled “Has Kyiv already lost?” the article describes Ukraine’s military growing increasingly despondent to the point that the country’s commander-in-chief admits there is a “stalemate” at the front.

“Winter is just around the corner. The counteroffensive seems to have failed. The allies are weary. And since the beginning of November at the latest, Ukrainian President Volodymyr Zelensky has a new opponent who was not necessarily to be expected: his own commander-in-chief, Valery Zaluzhny,” writes Die Welt.

Welt is referring to a recent interview in the Economist, in which Ukraine’s top general, Valery Zaluzhny, stated that “(a)s in the First World War, we have reached a technical level that puts us in a stalemate situation” and that in order for Ukraine to win, it would take miracle weapons to defeat the Russians, “like Chinese gunpowder.”

The paper details how the admission from Zaluzhny is a clear embarrassment for Zelensky.

“Everyone is tired and there are different opinions, regardless of their status,” said Zelensky in response to the comments at a press conference with EU Commission President Ursula von der Leyen, adding:

“But it’s not a stalemate.” His deputy bureau chief, Ihor Zhovkva said that talks of a stalemate “makes the aggressor’s job easier” and causes “panic” among Ukraine’s allies.

Soldiers of Ukraine’s National Guard 1st brigade Bureviy (Hurricane) practice during combat training at a military training ground in the north of Ukraine, Wednesday, Nov. 8, 2023. (AP Photo/Efrem Lukatsky)

In response, Welt wrote that the growing divisions between Ukraine’s armed forces and the government over the status of the war could mark a major turning point.

“The dispute between the president and the top military officer shows that the unified home front in Ukraine is crumbling. And every doubt expressed in Kyiv about Ukraine’s prospects of success is being reinforced in the corridors of European and American government headquarters,” writes Lehnartz.

Welt also points out that political victories of various populist leaders within Europe will likely create severe difficulties in terms of ongoing material and financial support to Ukraine. A deepening budget crisis in Germany also could mean further cuts to Ukraine’s budget, placing the country’s war effort at risk.

“The recent election victories of Geert Wilders in the Netherlands and Robert Fico in Slovakia — both of whom reject further arms sales to Ukraine — are also symptoms of growing war weariness in the West,” writes Welt.

“Italian Prime Minister Giorgia Meloni admitted this in September when she was tricked on the phone by a Moscow comedian duo: she saw ‘a lot of fatigue on all sides.’ Hungarian Prime Minister Viktor Orbán has already declared the Ukrainian strategy ‘failed.’ Everyone knows that, but no one (except Orbán) dares to say it out loud,” the paper continues.

Orbán has long been criticized for his peace efforts in Ukraine, warning that Russia cannot be defeated because it is a nuclear power and that thousands of Ukrainians and Russians are losing their fathers and brothers due to a war of attrition.

Welt then lists the major obstacles facing Ukraine on the battlefield, noting that Ukraine has retaken less than 0.25 percent of the territory it wishes to recapture from Russia during the counteroffensive. As a result, ‘the number of those who believe that Ukraine can still ‘win’ this war, i.e., achieve the liberation of all its territories occupied by Russia, is dwindling day by day. Russia’s Plan A, to take Kyiv in a few days and rule more or less directly, has ‘failed miserably,’ says James Nixey, director of the Russia and Eurasia program at the British think tank Chatham House. ‘But Plan B appears to be working: waiting for Ukraine’s allies to give up and go home.’”

…

Tatiana Burchik, center, mother of Ukrainian soldier Vadym “Gagarin” Belov, says her last goodbyes to her son near his coffin at a cemetery in Polonne, Khmelnytskyi region, Ukraine, Wednesday, Sept. 13, 2023. Vadyn was killed during an assault mission on Sept. 7 near Bakhmut, serving as an infantry serviceman of the 3rd Assault Brigade. (AP Photo/Alex Babenko)

However, the paper notes that this stalemate appears to be by design — at least to some extent. Western governments, for example, are struggling to provide simple military tech, such as artillery shells, in the promised number. These governments are still leery about providing more advanced military weapons, such as the Taurus guided missiles, which in theory could destroy the Kerch Bridge, a vital supply route for Russia. However, Western governments are still extremely wary of providing such weapons to Ukraine out of fear that the war could escalate. In effect, they want to provide only enough weapons to make sure Ukraine cannot lose, but also cannot win:

This is symptomatic of the German attitude, but ultimately also of the U.S. government. The American foreign policy expert Walter Russell Mead recently complained in the Wall Street Journal that the stalemate was ultimately the goal of the Biden government: exhausted Ukrainians would have to offer peace to Russia at some point, “and the White House then sells this as a glorious victory for democracy and the rule of law.”

However, the Welt article ends on a controversial note.

Despite spending much of the piece outlining how the war has reached a stalemate, resulting in incredible losses for both Russia and Ukraine, the article implies that the only way forward is doubling down on military support for Ukraine instead of working towards a peaceful solution.

…

“The West will have to decide whether it still believes in itself. And soon,” Welt concludes.

…

Read more here…

END

LATE THIS AFTERNOON

IDF: We breached Hamas defenses in Gaza’s north, south, reached center of Khan Younis

Gallant: We’ll push Hezbollah past Litani before residents of north return home * Security cabinet meets after US demand to double or triple fuel to Gaza * IDF ground op toll at 84

.

IDF says it reached center of Khan Younis, has sent additional division into Gaza

By EMANUEL FABIAN 

Troops of the 98th Division operate in southern Gaza’s Khan Younis, in a handout photo released December 6, 2023. (Israel Defense Forces)

The IDF says its 98th Division is leading the ground offensive against Hamas in the southern Gaza Strip, during which troops have surrounded the city of Khan Younis and are beginning to operate in it.

The 98th Division is made up of paratrooper forces — both from the standing army and the reserves — as well as the Commando Brigade and an elite artillery regiment. The 98th Division’s entry into Gaza means there are now four IDF divisions operating in the Strip. The others are the 162nd, 36th, and 252nd divisions, which have been operating in the enclave for several weeks now.

The IDF says the 98th Division “launched a combined attack on the area of ​​the city of Khan Younis, against the ‘centers of gravity’ of the Hamas terror organization.”

https://platform.twitter.com/embed/Tweet.html?dnt=true&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1732459414777422290&lang=en&origin=https%3A%2F%2Fwww.timesofisrael.com%2Fliveblog-december-06-2023%2F&sessionId=a0c58a1b028e160293bb0fb067af2542749e37e3&siteScreenName=timesofisrael&theme=light&widgetsVersion=01917f4d1d4cb%3A1696883169554&width=490px

It says that within a few hours, the troops broke through the defenses of Hamas’s Khan Younis brigade, encircled the city, and began to maneuver deeper into it.

The troops that led the offensive captured Hamas strongholds, locating weapons and intelligence materials, the IDF says.

According to the IDF, the 98th Division troops have killed “many” Hamas operatives in ground combat and airstrikes so far, and have located around 30 tunnel shafts that have been destroyed.

The IDF says Commando Brigade forces along with the Givati Brigade have reached the center of Khan Younis, and have been conducting “targeted raids in the heart of the city,” killing Hamas operatives and destroying the terror group’s infrastructure.

In one of the operations, the IDF says a weapons depot inside a mosque was struck.

The IDF says the Khan Younis brigade is “one of the two most dominant Hamas brigades,” and that the city in southern Gaza is a “center of gravity” of the terror group.

“All the leadership of the Hamas terror organization — political and military — grew up in the area of ​​the city of Khan Younis, including Yahya Sinwar, Muhammad Sinwar, and Mohammed Deif. Now the city is surrounded by the 98th Division,” the IDF adds.

END

GLOBAL VACCINE/COVID ISSUES

Robert H:

Pentagon data shows heart failure spiked nearly 1,000% among pilots in 2022: whistleblower – LifeSite

If we assume there is truth to this then the conclusion must be that America no longer possesses an Air Force that could sustain any length in  a real combat situation.
And it is just as likely other military services suffer in the same way.

https://www.lifesitenews.com/news/pentagon-heart-failure-spiked-1000/

DR PAUL ALEXANDER:

DIED SUDDENLY: Fauci Lied & Hundreds of Thousands of Children Died: Secret CDC Report confirms over 100k Youngsters ‘Died Suddenly’ in the USA following roll-out of COVID-19 Vaccines; THE EXPOSÉ

But little did the public know, the truth about the Covid vaccine’s safety had been buried deep within Fauci’s own lies and deceit and confidential U.S. Government and Pfizer documents.

DR. PAUL ALEXANDERDEC 5
 
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https://expose-news.com/2023/12/03/fauci-lied-100k-children-died-due-to-covid-vaccination/?cmid=7f8ea270-bda3-4cb2-b124-506e15f72c68

‘Time and time again throughout 2021, Dr. Anthony Fauci, stood at the podium, the bright lights of the cameras blinding him as he faced the nation. With a steady hand, he held up a vial of the Pfizer COVID-19 vaccine, promising it would be the key to protecting America and its children from the “deadly” COVID-19 disease supposedly ravaging the country.

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

Subscribed

But little did the public know, the truth about the Covid vaccine’s safety had been buried deep within Fauci’s own lies and deceit and confidential U.S. Government and Pfizer documents.

Fauci used propaganda, lies and manipulation to coerce parents into getting their children vaccinated.

But the weight of the lives lost has quickly come crashing down on him and the nation, as a secret Centers for Disease Control (CDC) report has revealed that nearly half a million children and young adults died within a year of his fateful announcement with over 118,000 of those deaths suspected to be due to the Covid-19 vaccine’s dangerous side effects.

The CDC report should spark widespread outrage and be on the front page of every single major newspaper. But instead, it has been and will continue to be met with a deafening silence. Despite the staggering death toll the report will be buried and swept under the carpet.

The mainstream media, consumed with working overtime to distract the public with propaganda on the war in Ukraine, alleged climate change and the cost of living crisis, has paid and will pay no attention to the devastating consequences of Dr. Anthony Fauci’s deception.

The public will continue to be kept in the dark, and the U.S. Government will move quickly to cover up its own involvement in the tragedy. With Dr Fauci quietly announcing his “retirement” in August 2022.

It’s all business as usual and simply just another day at the office. But it is also a shocking failure of transparency and accountability, and the people of the United States should be forever haunted by the lives lost due to the Covid-19 vaccine scandal.

Compared to other countries, the U.S. Government has been terrible at publishing relevant and up-to-date data allowing us to analyse the consequences of rolling out the Covid-19 injections. However, we have finally managed to stumble upon it thanks to an institution known as the Organisation for Economic Co-operation and Development (OEC).

The OEC is an intergovernmental organisation with 38 member countries founded in 1961 to stimulate economic progress and world trade. And for some reason, they host a wealth of data on excess deaths. You can find that data for yourself here.

The following chart has been created using the figures found in the OEC database. Figures that have been provided to the OEC by the U.S. Centers for Disease Control (CDC). And it shows excess deaths among children and young adults aged 0-44 across the USA by week in 2020 and 2021.

Source Data

The official figures reveal that there was a slight increase in excess deaths among children and young adults when the alleged Covid-19 pandemic hit the US in early 2020.

However, with the introduction of a Covid-19 injection, one would have expected deaths to have fallen significantly among the age group in 2021. But instead, the opposite happened.

Excess deaths among children and young adults were significantly higher every single week in 2021 than they were in 2020 except for weeks 29 and 30. But then in week 31, something drastic happened to cause excess deaths to rise significantly among children and young adults.

And official figures provided by the CDC, unfortunately, show that trend has continued in 2022.

Source Data

The most recent data released by the CDC covers up to week 40, the week ending October 9th, and it should be noted that the last few weeks of data are subject to change. But as you can see from the above, 2022 has also been a significant year for excess deaths among children and young adults.

Just for comparison, here’s how the figures for 2022 so far compare to the figures up to week 40 in 2020 and 2021.

Source Data

The CDC has confirmed that there have been 7,680 more excess deaths among children and young adults in 2022 so far than there were during the same time frame in 2020 at the height of the alleged Covid-19 pandemic.

The year 2021, was by and far the worst, however, with 27,227 more excess deaths by week 40 following the roll-out of the Covid-19 injection than what occurred in 2020 at the height of the alleged Covid-19 pandemic.

The following chart shows the official CDC figures for all deaths and excess deaths among children and young adults across the USA prior to the roll-out of the Covid-19 vaccine, and after the roll-out of the Covid-19 vaccines on the 14th Dec. 2020.

Source Data

The above figures reveal that the year 2022 so far has only seen 1,352 fewer excess deaths among 0-44-year-olds by week 40 than what occurred by week 51 in 2022, despite the year 2020 being the alleged height of the COVID pandemic and also including an extra 11 weeks worth of deaths.

But the most concerning figures revealed in the above chart are the overall number of deaths and excess deaths among children and young adults since the roll-out of the Covid-19 injections.

Nearly half a million people aged 0 to 44 have sadly died since week 51 of 2020, and this has resulted in an astounding 117,719 excess deaths against the 2015-2019 five-year average.

The average life expectancy in the USA as of 2020 was 77.28 years. If we are to believe the official narrative that Covid-19 is a deadly disease then we could perhaps agree that 231,987 children and young adults up to the age of 44 dying in 2020 resulting in 40,365 excess deaths was an unfortunate consequence of this disease.

But if we are to believe the official narrative that Covid-19 injections are safe and effective, then how can one explain the further increase in death among children and young adults in both 2021 and 2022?

Because we know millions of Americans were coerced into getting the injections, and we know millions of parents were coerced into forcing their children to also get the same injections.

The answer lies in the fact that the official narrative is an outright lie. The Covid-19 vaccines are neither.

The data provided by the CDC, which has been incredibly hard to find, only gives us clues as to this being the case with so many deaths among young Americans. But further data published by the UK Government confirms it.

One of the pieces of evidence confirming this is a report published on the 6th of July 2022, by the UK’s Office for National Statistics, which is a UK Government agency.

The report is titled ‘Deaths by Vaccination Status, England, 1 January 2021 to 31 May 2022‘, and it can be accessed on the ONS site here, and downloaded here.

Source

Table 2 of the report contains the monthly age-standardised mortality rates by vaccination status by age group for deaths per 100,000 person-years in England up to May 2022.

We’ve taken the figures provided by the ONS for January to May 2022 and produced the following chart which reveals the horrific consequences of the mass Covid-19 vaccination campaign.

The chart shows the monthly age-standardised mortality rates by vaccination status among 18 to 39-year-olds for Non-Covid-19 deaths in England between January and May 2022 –

Source

In every single month since the beginning of 2022, partly vaccinated and double vaccinated 18-39-year-olds have been more likely to die than unvaccinated 18 to 39-year-olds. Triple vaccinated 18 to 39-year-olds however have had a mortality rate that has worsened by the month following the mass Booster campaign that occurred in the UK in December 2021.

In January, triple vaccinated 18 to 39-year-olds were ever so slightly less likely to die than unvaccinated 18 to 39-year-olds, with a mortality rate of 29.8 per 100,000 among the unvaccinated and 28.1 per 100,000 among the triple vaccinated.

But this all changed from February onwards. In February, triple vaccinated 18 to 39-year-olds were 27% more likely to die than unvaccinated 18 to 39-year-olds, with a mortality rate of 26.7 per 100k among the triple vaccinated and 21 per 100k among the unvaccinated.

Things. unfortunately, got even worse for the triple vaccinated by May 2022 though. The data shows that triple vaccinated 18 to 39-year-olds were 52% more likely to die than unvaccinated 18 to 39-year-olds in May, with a mortality rate of 21.4 per 100k among the triple vaccinated and 14.1 among the unvaccinated.

The worst figures so far though are among the partly vaccinated, with May seeing partly vaccinated 18 to 39-year-olds 202% more likely to die than unvaccinated 18 to 39-year-olds.

That same report also reveals the mortality rates for children, although the UK Government did try to hide them.

The following chart shows the mortality rates by vaccination status per 100,000 person-years among children aged 10 to 14 in England for the period 1st January 2021 to 31st May 2022, according to the figures provided by the ONS –

Source

In regard to Covid-19 deaths, the ONS reveals that the mortality rate among unvaccinated children aged 10 to 14 equates to 0.31. But in regards to one-dose vaccinated children the mortality rate equates to 3.24 per 100,000 person-years, and in regards to triple vaccinated children the mortality rate equates to a shocking 41.29 per 100,000 person-years.

Unfortunately, there is little improvement when it comes to non-Covid-19 deaths.

The all-cause death mortality rate equates to 6.39 per 100,000 person-years among unvaccinated children, and is ever so slightly higher at 6.48 among partly vaccinated children.

However, the rate goes from bad to worse following the administration of each injection. The all-cause death mortality rate equates to 97.28 among double-vaccinated children, and a shocking 289.02 per 100,000 person-years among triple-vaccinated children.

This means, according to the UK Governments’ own official data, double vaccinated children are 1422% / 15.22x more likely to die of any cause than unvaccinated children. Whilst triple vaccinated children are 4423% / 45.23x more likely to die of any cause than unvaccinated children.

The figures provided by the Office for National statistics and both age-standardised and rates per 100,000 population. Therefore, they are definitive proof that the Covid-19 injections increase a person’s risk of dying. This means the Covid-19 injections have been and are continuing to kill people.

This is why it should come as no surprise to find that a secret CDC report confirms half a million American children & young adults have died following the COVID vaccine roll-out. resulting in nearly 118,00 excess deaths against the 2015-2019 five-year average.

Source Data

If happy endings existed in the real world then this nightmare would end with Dr. Anthony Fauci sitting alone in his prison cell, the weight of his actions weighing heavily on his mind. Not being able to do anything but think of the innocent lives lost because of his deceit.

He has been hailed as a hero, even a saviour, but he is nothing more than a monster who sacrificed the safety and lives of America’s children for his own ambition and greed.

He may have even thought he was doing the right thing. If you repeat a lie often enough then eventually you may come to believe it. But in the end, his actions had dire consequences for the nation and in time hopefully for his own soul.’

end

Masks for COVID? You want to see madness, look no further than the corrupt moronic idiots, the specious dolts & retarded imbeciles at CDC who today still say kids 2 years old & above wear COVID masks;

where is the damn evidence for this MADNESS? how could these fraudsters who make huge salaries, these technocrat academically sloppy, intellectually lazy malfeasant psychos say this harmful drivel?

DR. PAUL ALEXANDERDEC 6
 
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Pandemic horrors: A school in Duisburg praises its students for their heroic adherence to outdoor mask rules “despite the heat.” EUGYPPIUS (see excellent stack below to add to this discussion, EUGYPPIUS’S photograph used ABOVE)

Where is the evidence supporting mask use in COVID for anyone? any age group? The entire body of evidence showed the COVID masks were failures and harmful yet these psychos still advocate.

end

Ha ha ha ha, it could not get more loony bin insane than this, where Private Jets Headed To Global Warming Conference “Literally Frozen On Runway”; ha ha, ZeroHedge nails it! Global warming is a fraud

read the Vostak Ice Core samples data and see that this is all a fake fraud…they use man-made math models and manipulate it to derive ANY output; its all a fraud! Green energy is a fraud! tax grab

DR. PAUL ALEXANDERDEC 5
 
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end

BREAKING in New Zealand, FOIA request showed that 11,000 politicians and elites got COVID vaccine exemptions, did not take it; how? they knew it was NOT needed & was harmful, BUT they forced you under

threat of law and arrest to take it and now you and many are vaccine injured! so how do we investigate, put into legal tribunals and take their money and imprison and HANG them if shown guilty? HANG!

DR. PAUL ALEXANDERDEC 5
 
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end

‘Health Canada approves updated Novavax vaccine (original & XBB.1.5 sub-variant vaccine) to protect against COVID-19’; what a bunch of idiots, stupid, inept, incompetent Sharma, Njoo, Tam at PHAC &

Health Canada, what dimwits & academically sloppy intellectually lazy specious dangerous health officials for as seen below (CDC) the dominant variants are HV.1, EG.5, BA.2.86, NOT XBB 1.5, you idiots

DR. PAUL ALEXANDERDEC 6
 
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Idiots Njoo, Tam, Sharma, you blockheads, ding dongs, you will drive viral immune escape with this approval, a mismatch of vaccine spike to circulating spike, what morons, there will be original antigenic sin (recall to the original prime or exposure), not XXX.1.5, antibody-dependent enhancement of infection etc. You idiots will drive emergence of more and more sub-variants for the XBB.1.5 vaccine cannot sterilize the virus, will not stop infection or transmission and you will drive via natural selection pressure, more and more infectious and potentially lethal variants to emerge.

Idiots!

end

Pfizer BioNTech mRNA vaccine adverse events BNT162b2 5.3.6: ‘Cumulative Analysis of Post-authorization Adverse Event Reports’; Pfizer submission & see that mycoplasma pneumoniae is an adverse effect

outcome of the Pfizer vaccine as per Pfizer’s own submission document; thus is the WHITE LUNG pneumoniae misdirection? a move to unveil NEW pandemic? is the rising pneumonia in kids due the vaccine?

DR. PAUL ALEXANDERDEC 6
 
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2nd Smartest Guy in the World raises the link between the mRNA vaccine and the white lung pneumonia reportedly escalating in China, USA etc. & I myself have written substacks on this, as well as potential for the lockdowns to have caused this by both weakening and subverting the immune systems of children; very nice work by 2nd & I ask you to support him!

see page 36:

2nd Smartest Guy in the World

The Truth About “White Lung Disease”

This Substack correctly speculated that the ‘White Lung’ “outbreak” is nothing more than a form of VAIDS further exacerbated by masking… …and now attorney Tom Renz has performed some fine digging into Pfizer’s own adverse events reports to further corroborate the true nature of this latest mass adverse DEATHVAX™ response…

Read more

SLAY NEWS

The latest reports from Slay News
New Zealand Whistleblower Facing 7 Years in Prison for Exposing Mass Vax DeathsA New Zealand government whistleblower is now facing up to seven years in prison after being arrested for going public with data exposing the country’s mass deaths among the Covid-vaccinated population.READ MORE
‘Smoking Gun’ Evidence Emerges of Migrant Voter Fraud Scheme in NYCA U.S. House Republican has raised the alarm after uncovering “smoking gun” evidence of a voter fraud scheme in New York City.READ MORE
Tucker Carlson Unloads on John Kerry: ‘The Snarling Face of Tyranny’Independent news anchor Tucker Carlson has taken Democrat President Joe Biden’s so-called “climate czar” John Kerry to the woodshed over his anti-humanity agenda.READ MORE
Arkansas Blocks Foreign ‘Young Turks’ Host Cenk Uygur from Democrat Presidential Primary BallotTurkish radical leftist Cenk Uygur has been blocked from appearing on the Democrat 2024 presidential primary ballot by Arkansas election officials.READ MORE
FBI Arrests Actor Siaka Massaquoi for Entering Capitol on Jan 6Actor, journalist, and Republican Party official Siaka Massaquoi has been arrested by the FBI for allegedly entering the U.S. Capitol on January 6, 2021.READ MORE
Massive Explosion Triggered at Virginia Home during Standoff with PoliceA home in Arlington, Virginia has been completely obliterated by a massive explosion during a standoff with police.READ MORE
California to Fine Stores That Don’t Have ‘Gender-Neutral’ Children’s Toy SectionA new law due to come into effect in California next month will see stores issued with fines if they fail to comply with radical gender ideology.READ MORE
Gov Abbott Gives Texas Border Officers Power to Arrest Illegal AliensRepublican Governor Greg Abbott has announced new powers for Texas border officers as part of his sweeping new measures for cracking down on illegal aliens entering the state.READ MORE
Judge Gives Slap on the Wrist to BLM Rioters Who Burned Down Atlanta Wendy’s, No Jail TimeTwo far-left rioters have walked free from court with a slap on the wrist from a sympathetic judge after they pleaded guilty to burning down a Wendy’s restaurant in Atlanta, Georgia during the Black Lives Matter (BLM) riots in 2020.READ MORE
GOP Lawmakers Fined for Violating Pelosi’s Mask Mandate Take Case to Supreme CourtA group of three House Republicans is taking their case to the United States Supreme Court after they were fined for violating then-Speaker Nancy Pelosi’s (D-CA) mask mandate.READ MORE
Liz Cheney: ‘No Question’ Trump Will ‘Try to Stay in Office Beyond a Second Term’Former Rep. Liz Cheney (R-WY) has made a bizarre prediction that President Donald Trump “would never leave office” if he wins re-election next year.READ MORE
Trump Slams ‘Unwatchable’ Robert De Niro: ‘Total Loser’President Donald Trump has fired back at Robert De Niro after the Hollywood star recently delivered a hate-filled anti-American speech during an award show.READ MORE
Mobster ‘Sammy the Bull’ Says Biden Family Criminal Allegations Are ‘Mind-Blowing’Salvatore “Sammy the Bull” Gravano, the infamous former mobster, has said that he is stunned by the “mind-blowing” criminal allegations leveraged against Democrat President Joe Biden and his son Hunter.READ MORE

EVOL NEWS

Journalist Who Exposed WEF Reported Missing, Feared DeadREAD MORE… LATEST NEWS:1 Million Vaxxed UK Citizens Have Now DiedRead more…Watch: Christian Singer’s Tender New Song, ‘Christmas Feels Different This Year’, Says What We’re All ThinkingRead more…Hillary Clinton Meme Influencer Can Stay Out of Jail Pending Appeal of Guilty Verdict, Court RulesRead more…4 Republicans qualify for fourth 2024 presidential debateRead more…Top Democrat Wants Illegal Migrants to Be Citizens, Allow Them in MilitaryRead more…Explosion rocks Virginia neighborhood as police serve search warrant at homeRead more…Judge Cannon Denies Jack Smith Request to Keep Some Documents Hidden in Trump Classified Docs CaseRead more…High-Ranking Hamas Official Threatens: ‘We’re Not Far Off From Launching War of Liberation, Which Will Be Bigger Than October 7’Read more…

NEWS ADDICT

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

 

END

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

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

NICARAGUA

Quite a story! Miss Universe involved in a plot to overthrow the government of Nicaragua

(zerohedge)

Miss Universe Alleged To Be At Center Of Plot To Overthrow Nicaraguan Government

TUESDAY, DEC 05, 2023 – 09:45 PM

How many of you had “beauty pageant contestant at center of allegations to overthrow an authoritarian government” on your 2024 bingo card? We sure didn’t.

But if you did, looks like you can mark your square thanks to Nicaraguan Miss Universe Sheynnis Palacios. Palacios was the first from her country to win the competition last month, but focus quickly turned to her life outside of the pageant world.

According to the Telegraph, she was quickly scrutinized for photos of her at “mass anti-government protests in 2018”. And now, the director of the country’s national beauty pageant has been charged with putting together a “foreign-backed plot” due to Palacios’ pro-democracy stance.

Pageant director Karen Celebertti now finds herself wanted by police on conspiracy charges, the report says. She’s facing charges of allegedly rigging the competition to ensure that anti-government contestants won. 

Five years ago, over 300 individuals lost their lives when state forces suppressed demonstrations that lasted three months, targeting President Ortega’s regime. Public demonstrations were then prohibited by the authorities, but, following Ms. Palacios’s victory in November, numerous people chose to disregard the ban and openly celebrate in the streets.

“In these days of a new victory, we are seeing the evil, terrorist commentators making a clumsy and insulting attempt to turn what should be a beautiful and well-deserved moment of pride into destructive coup-mongering,” Ortega’s wife commented. 

Celebertti hasn’t been let back into the country and is said to be in Mexico. Her husband and son have been detained on conspiracy charges that date back 5 years, The Telegraph writes. 

Police accused her of using “spaces supposedly dedicated to promoting ‘innocent’ beauty pageants, in a conspiracy orchestrated to convert the contests into traps and political ambushes financed by foreign agents”.

Celebertti, her husband, and son have not publicly addressed the accusations. Palacios was not mentioned in the police report.

Meanwhile, if you’re in New York, keep your eyes peeled: Palacios has moved to the state to tend to her “Miss Universe duties” (whatever that means) and has stayed quiet about the issue. 

END

CANADA

Canada keeps rate at 5%

(ZEROHEDGE)

Bank of Canada Keeps Rates At 5% As Expected, Drops Language On Rising Inflation Risks

WEDNESDAY, DEC 06, 2023 – 10:15 AM

The Bank of Canada kept its overnight lending rate at 5% for the third consecutive meeting – where it has been since mid-July and tied for the highest rate since April 2001 – in line with Wall Street estimates, and acknowledging a stalled economy while keeping the door open to further hikes as they watch for more progress on slowing inflation

Echoing similar dovish twists by other central banks, BOC officials said recent data suggest the economy is no longer in “excess demand” and their hiking campaign is dampening spending and price pressures. As a result, the statement dropped its October language about rising inflationary risks even as it reiterated that it was prepared to hike if needed.

Governing council is still concerned about the risks to the outlook for inflation and remains prepared to raise the policy rate further if needed,” the bank said, adding that they want to see “further and sustained easing in core inflation.”

Here are some highlights from the statement:

Policy

  • Governing Council is still concerned about risks to the outlook for inflation and remains prepared to raise the policy rate further if needed. Governing Council wants to see further and sustained easing in core inflation, and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behavior.

Economy

  • Higher interest rates are clearly restraining spending: consumption growth in the last two quarters was close to zero, and business investment has been volatile but essentially flat over the past year. Exports and inventory adjustment subtracted from GDP growth in the third quarter, while government spending and new home construction provided a boost. The labour market continues to ease: job creation has been slower than labour force growth, job vacancies have declined further, and the unemployment rate has risen modestly. Even so, wages are still rising by 4-5%.
  • Overall, these data and indicators for the fourth quarter suggest the economy is no longer in excess demand.
  • Inflation
  • Shelter price inflation has picked up, reflecting faster growth in rent and other housing costs along with the continued contribution from elevated mortgage interest costs.
  • In recent months, the Bank’s preferred measures of core inflation have been around 3!4-4%. with the October data coming in towards the lower end of this range.

The more neutral language in the statement suggests the BOC is increasingly confident interest rates are restrictive enough to bring inflation back to the 2% target, similar to their peers at the Fed and ECB. Still, officials will want to see more progress on core inflation, which strips out the effect of more volatile items, before declaring victory.

Before Wednesday’s decision, traders in overnight swaps were betting the bank would start cutting borrowing costs by the April meeting and lower the benchmark overnight rate to 4% by the end of 2024.

Canada’s economy has stalled and consumption is weak. The unemployment rate has risen to 5.8% from 5% in just seven months, a loosening of the labor market that typically coincides with recessions. Just six weeks ago, the bank said the labor market remained “on the tight side,” but acknowledged on Wednesday they see it loosening.

After temporarily reversing course due to rising gasoline costs, inflation decelerated to a 3.1% yearly pace in October. “The slowdown in the economy is reducing inflationary pressures in a broadening range of goods and services prices,” the bank said.

That said, prematurely declaring victory over inflation, only to have to restart rate hikes later, would be crushing to the central bank’s credibility. Headline inflation has been above the Bank of Canada’s 1% to 3% control range for 30 of the last 31 months — the worst record in the modern era of the central bank — and more than half of economists surveyed by Bloomberg say that has hurt the bank’s reputation.

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

EURO VS USA DOLLAR:  1.0777 DOWN  0.0016

USA/ YEN 147.30 UP .117  NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//

GBP/USA 1.2589 DOWN .0004

USA/CAN DOLLAR:  1.3565 DOWN .0026 (CDN DOLLAR  UP 26 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 3.36 PTS OR   0.11%

 Hang Seng CLOSED UP 135.40 PTS OR 0.83%

AUSTRALIA CLOSED UP 1.61%  // EUROPEAN BOURSE:  ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG UP 135.40 PTS OR 0.83%  

/SHANGHAI CLOSED DOWN 3.36 PTS OR 0.11%

AUSTRALIA BOURSE CLOSED UP 1.61%

(Nikkei (Japan) CLOSED  DOWN 670.08  PTS OR 2.04%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2023.75

silver:$24.12

USA dollar index early WEDNESDAY  morning: 104.04 UP 5 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 2.856%  DOWN 4  in basis point(s) yield

JAPANESE BOND YIELD: +0.628% DOWN 3 AND  0//100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.215  DOWN 4  in basis points yield

ITALIAN 10 YR BOND YIELD 3.958 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2125  DOWN 2  BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR  TUESDAY  

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

Euro/USA 1.0789 DOWN  0.0042 or 42  basis points

USA/Japan: 147.23 UP 0.034 OR YEN DOWN 3 basis points/

Great Britain/USA 1.2594  DOWN  0.0000  OR 0  BASIS POINTS //

Canadian dollar UP .0014 OR 14 BASIS pts  to 1.3562

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  CLOSED    (DOWN) …7.1595

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1689)

TURKISH LIRA:  28.92 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.628…VERY DANGEROUS

Your closing 10 yr US bond yield DOWN 5 in basis points from TUESDAY at  4.126% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield  4.241 DOWN 7  in basis points   ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.593 DOWN 1  BASIS PTS.

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

London: CLOSED UP 25.54  POINTS or 0.34%

German Dax :  CLOSED UP 123.33 PTS OR 0.75%

Paris CAC CLOSED UP 35.45 PTS OR 0.65%

Spain IBEX UP 19.70  PTS OR 0.19%

Italian MIB: CLOSED UP 243.41 PTS OR 0.81%

WTI Oil price  73.41   12: EST

Brent Oil:  78.41 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  92.88;   ROUBLE DOWN 0 AND  7//100      

GERMAN 10 YR BOND YIELD; +2.2125 DOWN 2  BASIS PTS

UK 10 YR YIELD: 3.999 DOWN 6  BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0762  DOWN   0.0032   OR 32 BASIS POINTS

British Pound: 1.2554 DOWN   .0054 or 54 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.999% DOWN 7 BASIS PTS//

JAPAN 10 YR YIELD: 0.640%

USA dollar vs Japanese Yen: 147.38 UP .202 //YEN DOWN 20  BASIS PTS//

USA dollar vs Canadian dollar: 1.3593 UP 0.0001 CDN dollar  DOWN 1   basis pts)

West Texas intermediate oil: 69.33

Brent OIL:  74,24

USA 10 yr bond yield DOWN 5.5  BASIS pts to 4.121%  

USA 30 yr bond yield DOWN 8  BASIS PTS to 4..227%

USA 2 YR BOND: UP 3 PTS AT  4.608 %

USA dollar index: 104.17 UP 18  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 28.92 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  92.82 DOWN 1  AND  55/100 roubles

GOLD  2025.45 3:30 PM

SILVER: 23.92  3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 70.13 PTS OR 0.19%

NASDAQ DOWN 89.66 PTS OR 0.56%

VOLATILITY INDEX: 12.91 UP .06 PTS (.47)%

GLD: $187.84 UP 0.69 OR 0.37%

SLV/ $21.93 DOWN .19 OR 0.86%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

‘Growth Scare’ Spooks Big-Tech & Black Gold As Bond Yields Plunge

WEDNESDAY, DEC 06, 2023 – 04:00 PM

Macro data continues to serially disappoint, with ADP today confirming labor market stress is starting to build…

Source: Bloomberg

Treasuries were mixed with the long-end dramatically outperforming (30Y -8bps, 2Y +2bps). On the week, only 2Y yields are higher with 5Y unch and the rest of the curve lower…

Source: Bloomberg

…pushing the yield curve flatter/more-inverted…

Source: Bloomberg

…as the bond market is starting to price in a growth scare as long-end yields tumble to their lowest since August…

Source: Bloomberg

Here are five reasons why:

  1. Today’s November ADP report was below estimates at 103,000 and showed job cuts in manufacturing. That was in line with Tuesday’s slowing in JOLTS job openings.
  2. Traders ramped up bets on ECB rate cuts next year after weak German factory data bolstered the view that it’ll be the first to pivot.
  3. Walmart CEO said consumers may not be as resilient next year, even as deflation starts to show, according to a CNBC interview.
  4. Oil is moving lower on surging oil exports and as pessimism outweighs stockpile drop.
  5. Treasuries sliced through resistance with dealers and international real money buying in long-end Treasury futures ahead of expected money manager demand after next week’s FOMC. Fixed income option flows too remain bullish — skewed towards call structures that target 2% Fed rate by September.

Goldman reassures that “slowing but no recession, disinflation without job losses is what is being priced into the equity markets.”

‘Growthy’ Cyclical stocks remain high as macro and commodities are non-growthy…

Source: Bloomberg

‘Magnificent 7’ stocks faded an initial rally today (despite lower yields)…

Source: Bloomberg

..but ‘unprofitable tech’ continues to rally (on lower rates)…

Source: Bloomberg

…as ‘most shorted’ stocks squeezed higher and hedge fund VIP holding were weaker – punishing them twice…

Source: Bloomberg

But, the last hour saw broader selling pressure which smashed the squeeze back down to unch…

Source: Bloomberg

…and that dragged Small Caps down into the red with the rest of the US Majors today. Nasdaq and S&P were the ugliest horses in the glue factory…

The dollar strengthened against its fiat peers for the 5th time in the last 6 days (closing at 3-week highs)…

Source: Bloomberg

Bitcoin held yesterday’s gains, hovering around $44,000 all day…

Source: Bloomberg

Ethereum was lower on the day, dragging the ETH/BTC cross to its lows in June…

Source: Bloomberg

Gold inched higher (with spot prices finding support at $2020)…

Source: Bloomberg

Oil tumbled for the fifth straight day (8 of last 10 days) with WTI tumbling back below $70 for the first time since early July. Most notably, prices are back below the levels that triggered OPEC+’s big coordinated production cuts in March…

Source: Bloomberg

Finally, financial conditions continue to loosen…

Source: Bloomberg

When will The Fed be forced to intervene as ‘the market’ erases all its hard work?

EARLY MORNING TRADING//ADP REPORT

very weak:  rare to see a huge drop in hospitality jobs

(ADP/zerohedge)

Hospitality Jobs Tumble For First Time In Almost 3 Years As ADP Disappoints

WEDNESDAY, DEC 06, 2023 – 08:25 AM

After ADP has printed lower than BLS for the last two months…

Source: Bloomberg

expectations were for a small tick higher in November (from 113k to +130k), despite the ugly JOLTS print. However, ADP reported just 103k jobs added (and October revised down to 106k)…

Source: Bloomberg

Manufacturing saw the biggest job losses but Leisure and Hospitality lost jobs for the first time since Feb 2021…

ADP’s Chief Economist Nela Richardson notes that:

“Restaurants and hotels were the biggest job creators during the post-pandemic recovery. But that boost is behind us, and the return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring and wage growth in 2024.”

Bidenomics…

Job-stayers saw a 5.6 percent pay increase in November, the slowest pace of gains since September 2021. Job-changers, too, saw slowing pay growth, posting pay gains of 8.3 percent, the smallest year-over-year increase since June 2021. The premium for switching jobs is at its smallest in three years of data.

Is this the recessionary signals the STIRs market is banking on for 125bps of rate-cuts next year? Because stocks sure aren’t thinking recession.

END

TUCKER CARLSON

“They’re Saying The Quiet Part Out Loud”: Tucker And Massie Slam Additional Ukraine Funds For ‘War They Cannot Win’

WEDNESDAY, DEC 06, 2023 – 10:45 AM

With the Biden administration pushing a $106 billion aid package to primarily fund war in Ukraine and Israel, Tucker Carlson sat down with Rep. Thomas Massie (R-KY) on Tuesday, where they discussed the push by establishment lawmakers for more Ukraine funding despite it being a ‘war they cannot win.’

When asked why, Massie explained that the military-industrial complex thrives on the sale of “deadly munitions,” which enriches shareholders, “some of whom are congressmen.”

“But you gotta wonder like, why is the leadership of your party, the Republican party, in favor of this? Why the new speaker — seems like a nice guy but also like a child — why would his first act as speaker be to endorse this? I’m confused,” said Carlson.

To which Massie replied: “Well, I hope he doesn’t. But you know, Biden’s budget director, the head of the OMB sent a letter yesterday to Speaker Mike Johnson, imploring him to spend more money in Ukraine. And what they said is they want to revitalize our defense industrial base.”

“And they sent a list of states that would get money when we spend, you know, money on deadly munitions because they have to be manufactured in Alabama or Ohio or Texas,” Massie continued. “And so, you know, they’re saying the quiet part out loud that congressmen tend to vote for this stuff because a lot of this federal spending that goes to Ukraine is actually laundered back to the military-industrial complex. And in some ways, not very efficiently, but in some ways, it enriches people in their districts and the stockholders, some of whom are congressmen.”

The two also discussed US Under Secretary of State Victoria Nuland and her influence in Ukraine, with Carlson calling her “the single most consequential voice” in the Ukraine debate.

(Nuland’s husband, Robert Kagan, notably penned a ‘Trump Dictator‘ piece in the Washington Post last week)

Carlson notes that she was a “driving force behind the war in Iraq, which was of course a disaster and hurt the United States,” and now “she has far more influence on it than the entire United States Congress put together.”

“How do we allow unelected lunatics like ‘Toria Nuland who clearly hates the United States, and always has, to have this power over our lives and our childrens’ future?“

To which Massie replied: “I don’t know I feel like some of these deep State bureaucrats they’re like the kids who had no friends in high school and somebody did something bad to them long ago. And now they’ve got some power, and they realize how to grab it, and they’re gonna have retribution on everybody else.”

As the Daily Caller notes, Carlson then asked if the people advocating for more war have ever apologized for “the killing of an entire” generation of Ukrainians who are fighting a “war they cannot win.”

“That’s all so grotesque, but it’s also straightforward. You know, people are getting rich, so let’s do it. Okay — that’s an argument. It’s an immoral argument but it is one. But that’s not the argument they’re making in public. They’re saying we have a moral obligation.”

“You’re a bad person, you just heard the national security advisor say it, you’re a bad person if you’re against this. But no one ever mentions that we have abetted the killing of an entire generation of Ukrainian men that will not be replaced. To fight a war that they cannot win.” -Tucker Carlson

Carlson also pointed out that the Biden administration “prevented a peace deal and we extended the war, and we killed all these people,” adding “And so all the ones running around with their little Ukraine flag pins, they’re implicated in that. Has anyone apologized?”

To which Massie replied, “No, to support this money you have to be economically illiterate and morally deficient.”

Watch:https://www.zerohedge.com/political/theyre-saying-quiet-part-out-loud-tucker-and-massie-slam-additional-ukraine-fun

II USA DATA

this is the strongest indicator yet that we are heading for a huge recession/depression: the collapse of the money supply

McMaken/Mises

The Money Supply Continues Its Biggest Collapse Since The Great Depression

WEDNESDAY, DEC 06, 2023 – 01:00 PM

Authored by Ryan McMaken via The Mises Institute,

Money supply growth fell again in October, remaining deep in negative territory after turning negative in November 2022 for the first time in twenty-eight years. October’s drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years.

Since April 2021, money supply growth has slowed quickly, and since November, we’ve been seeing the money supply repeatedly contract year over year. The last time the year-over-year (YOY) change in the money supply slipped into negative territory was in November 1994. At that time, negative growth continued for fifteen months, finally turning positive again in January 1996. 

Money-supply growth has now been negative for twelve months in a row. During October 2023, the downturn continued as YOY growth in the money supply was at –9.33 percent. That’s up slightly from September’s rate decline which was of –10.49 percent, and was far below October 2022’s rate of 2.14 percent. With negative growth now falling near or below –10 percent for the eighth month in a row, money-supply contraction is the largest we’ve seen since the Great Depression. Prior to this year, at no other point for at least sixty years has the money supply fallen by more than 6 percent (YoY) in any month. 

The money supply metric used here—the “true,” or Rothbard-Salerno, money supply measure (TMS)—is the metric developed by Murray Rothbard and Joseph Salerno, and is designed to provide a better measure of money supply fluctuations than M2. (The Mises Institute now offers regular updates on this metric and its growth.)

In recent months, M2 growth rates have followed a similar course to TMS growth rates, although TMS has fallen faster than M2. In October 2023, the M2 growth rate was –3.35 percent. That’s down from September’s growth rate of –3.35 percent. October 2023’s growth rate was also well down from October 2022’s rate of 1.42 percent. 

Money supply growth can often be a helpful measure of economic activity and an indicator of coming recessions. During periods of economic boom, money supply tends to grow quickly as commercial banks make more loans. Recessions, on the other hand, tend to be preceded by slowing rates of money supply growth. 

It should be noted that the money supply does not need to actually contract to signal a recession and the boom-bust cycle. As shown by Ludwig von Mises, recessions are often preceded by a mere slowing in money supply growth. But the drop into negative territory we’ve seen in recent months does help illustrate just how far and how rapidly money supply growth has fallen. That is generally a red flag for economic growth and employment.

The fact that the money supply is shrinking at all is remarkable because the money supply in modern times almost never gets smaller. The money supply has now fallen by $2.8 trillion (or 13.1 percent) since the peak in April 2022. Proportionally, the drop in money supply since 2022 is the largest fall we’ve seen since the Depression. (Rothbard estimates that in the lead-up to the Great Depression, the money supply fell by 12 percent from its peak of $73 billion in mid-1929 to $64 billion at the end of 1932.)

In spite of this recent drop in total money supply, the trend in money-supply remains well above what existed during the twenty-year period from 1989 to 2009. To return to this trend, the money supply would have to drop at least another $3 trillion or so—or 15 percent—down to a total below $15 trillion.  Moreover, as of October, total money supply was still up 32 percent (or $4.6 trillion) since January 2020. 

Since 2009, the TMS money supply is now up by nearly 186 percent. (M2 has grown by 141 percent in that period.) Out of the current money supply of $18.9 trillion, $4.6 trillion—or 24 percent—of that has been created since January 2020. Since 2009, $12.2 trillion of the current money supply has been created. In other words, nearly two-thirds of the total existing money supply have been created just in the past thirteen years. 

With these kinds of totals, a ten-percent drop only puts a small dent in the huge edifice of newly created money. The US economy still faces a very large monetary overhang from the past several years, and this is partly why after eighteen months of slowing money-supply growth, we are only now starting to see a slowdown in the labor market. (For example, job openings have fallen 22 percent over the past year, but have not yet returned to pre-covid levels.) The inflationary boom has not yet ended. 

Nonetheless, the monetary slowdown has been sufficient to considerably weaken the economy. The Philadelphia Fed’s manufacturing index is in recession territory. The Leading Indicators index keeps looking worse. The yield curve points to recession. Temp jobs were down, year-over-year, which often indicates approaching recession. Default rates are rising. 

Money Supply and Rising Interest Rates

An inflationary boom begins to turn to bust once new injections of money subside, and we are seeing this now. Not surprisingly, the current signs of malaise come after the Federal Reserve finally pulled its foot slightly off the money-creation accelerator after more than a decade of quantitative easing, financial repression, and a general devotion to easy money. As of early December, the Fed has allowed the federal funds rate to rise to 5.50 percent, the highest since 2001. This has meant short-term interest rates overall have risen as well. In October, for example, the yield on 3-month Treasurys reached 5.6 percent, the highest level measured since December 2000. 

Without ongoing access to easy money at near-zero rates, banks are less enthusiastic about making loans, and many marginal companies will no longer be able to stave off financial trouble by refinancing or taking out new loans. Commercial bankruptcy filings increased sizably during 2023, and continue to surge into the last quarter of the year. As reported by Monitor Daily: 

The bankruptcy filing by WeWork in November propelled November commercial Chapter 11 filings to 842, an increase of 141% compared with the 349 filings registered in November 2022, according to data provided by Epiq Bankruptcy.

The case filed by WeWork on Nov. 6 included 517 related filings, according to analysis from the American Bankruptcy Institute, representing the third-most related filings in a case since the U.S. Bankruptcy Code became effective in 1979.

Overall commercial filings increased 21% to 2,252 in November, up from the 1,864 commercial filings registered in November 2022. Small business filings, captured as Subchapter V elections within Chapter 11, increased 79% to 181 in November, up from 101 in November 2022.

There were 37,860 total bankruptcy filings in November, a 21% increase from the November 2022 total of 31,187. Individual bankruptcy filings also registered a 21% year-over-year increase, as the 35,608 in November represented an increase over the 29,323 filings in November 2022. There were 20,250 individual Chapter 7 filings in November, a 23% increase compared with the 16,421 filings recorded in November 2022, and there were 15,280 individual Chapter 13 filings in November, a 19% increase compared with the 12,862 filings last November.

Lending for private consumption is getting more expensive also. In October, the average 30-year mortgage rate rose to 7.62 percent, the highest point reached since November 2000. 

These factors all point toward a bubble that is in the process of popping. The situation is unsustainable, yet the Fed cannot change course without reigniting a new surge in price inflation. Although some professional economists insist that price inflation has all but disappeared, the sentiment on the ground is clearly one in which most workers believe their wages are not keeping up with rising prices. Any surge in prices would be especially problematic given the rising cost of living. Ordinary Americans face a similar problem with home prices. According to the Atlanta Fed, the housing affordability index is now the worst it’s been since 2006, in the midst of the Housing Bubble. 

If the Fed reverses course now, and embraces a new flood of new money, prices will only spiral upward. It didn’t have to be this way, but ordinary people are now paying the price for a decade of easy money cheered by Wall Street and the profligates in Washington. The only way to put the economy on a more stable long-term path is for the Fed to stop pumping new money into the economy. That means a falling money supply and popping economic bubbles.

But it also lays the groundwork for a real economy – i.e., an economy not built on endless bubbles – built by saving and investment rather than spending made possible by artificially low interest rates and easy money. 

END


Trade deficit still on track to be lowest in three years

The numbers: The U.S. trade deficit rose 5% in October to a three-month high of $64.3 billion largely because of a decline in exports of American-made cars and COVID-related drugs.

Higher deficits subtract from gross domestic product, the official scorecard for the U.S. economy.

Key details: Imports inched up 0.2% in October to $323 billion, mostly because of higher demand for computers and equipment to drill for oil.

Imports are well off their 2022 peak, however, due to a shift in spending by U.S. consumers from goods to services such as leisure and recreation.

U.S. exports, meanwhile, fell 1% in October to a $258.8 billion, though they remained close to a record high.

Big picture: The U.S. is still on track to report the smallest annual increase in its trade deficit in three years.

Imports had surged to a record high in 2022 owing to strong consumer spending. Now a weakening economy brought about by higher U.S. interest rates has sapped demand and helped to reduce the trade deficit.

That’s likely to continue to be the case in the months ahead as the Federal Reserve keeps interest rates high to make sure high inflation is under control.

Looking ahead: “Despite the widening in the trade deficit in October, net trade looks set to be only a modest drag on fourth-quarter GDP growth,” said deputy chief U.S. economist Andrew Hunter of Capital Economics.

-END-

III  USA ECONOMIC COMMENTARIES

Crisis at Blackstone Mortgage Reit

(zerohedge)

“Here Comes The Cliff!”: Carson Block Shorts Blackstone Mortgage REIT As ‘Liquidity Crisis’ Risks Mount

WEDNESDAY, DEC 06, 2023 – 03:40 PM

At the Sohn Conference in London on Wednesday, Carson Block, the founder of Muddy Waters Research, warned that Blackstone’s Mortgage Trust (BXMT) is facing a “perfect macro storm.” He suggested that a crisis in commercial real estate could potentially lead to a “liquidity crisis” in the trust. 

Block told attendees at Sohn that Muddy Waters is short BXMT because “borrowers will be unable to refinance and repay” the trust. He cautioned that BXMT is at “risk of a liquidity crisis” and explained, “This is not a story where bad people have done bad things, they are just unlucky.” 

“Blackstone may modify the loans but it’s such a big number of loans terminating next year that will not be able to be swept under the rug,” he continued. 

In a report published on the Muddy Waters’ website, the research firm outlined its reasons for taking a short position on BXMT:

Muddy Waters is short Blackstone Mortgage Trust (BXMT US). Interest rate swaps and manipulated risk ratings / loss provisions have obscured serious deterioration in BXMT’s loan book. Muddy Waters believes that starting in 2024, as an estimated $16 billion of swaps terminate, the following problems will be evident:

  • BXMT will likely significantly cut its dividend as soon as H2 2024. At present SOFR, we expect BXMT to cut its quarterly dividend by at least half.
  • We think large numbers of borrowers will be unable to refinance and repay BXMT.
  • BXMT is at risk of a liquidity crisis. 
  • Even assuming rate cuts, BXMT’s losses on its $23.2 billion net book value of loans could reach ~$2.5 billion to ~$4.5 billion. BXMT’s market cap, which is currently $4.0 billion, is at risk of being completely wiped out by these losses. These losses would be in addition to BXMT’s existing loss provisions.

The report starts with, “Here Comes the Cliff!” 

BXMT is a REIT that borrows money and lends to commercial mortgage borrowers. 

Muddy Waters explained many CRE borrowers are underwater on their properties because values have plunged, making it impossible for some to repay BXMT. It noted, “Anticipated rate cuts would be too little, too late for many CRE borrowers.”  

Muddy Waters zooms out on the CRE sector and shows the mounting stress. 

Despite no signs of distress at the trust, Muddy Waters said troubled loans are being modified by extending maturities. 

Turbulence appears to be arriving as early as next year. 

Shares of BXMT fell 6% in the US cash session. Since pre-Covid levels, shares of the trust have been halved and near Covid lows. 

In October, a Bloomberg survey of professionals found that most respondents were expecting a “severe crash” in the CRE space. 

Meanwhile, the private $64 billion Blackstone Real Estate Income Trust has experienced troubles of its own, gating redemption requests for 13 consecutive months amid CRE woes. 

Amazing/ Biden approves $7.5 billion to expand EV charging stations and not one is built

(zerohedge)

Zero Public EV Chargers Built Since Congress Approved $7.5 Billion To Expand Network

WEDNESDAY, DEC 06, 2023 – 07:20 AM

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

President Joe Biden’s 2021 infrastructure bill boasts a $7.5 billion investment in electric vehicle (EV) chargers, and his administration insists the country is “on track” to install over a million public chargers by the end of the decade—but reports indicate that so far not a single one has actually been built.Electrical vehicle chargers in Irvine, Calif., on July 12, 2023. (John Fredricks/The Epoch Times)

A key part of the Biden administration’s push to reach net-zero emissions by 2050 is to sharply expand the nation’s charging infrastructure for plug-in EVs in order to align with President Biden’s goal of having half of all new vehicles sold in the United States to be electric by 2030.

At the forefront of this effort is the federal government’s commitment to pour in $7.5 billion as part of the Infrastructure Investment and Jobs Act (also known as the Bipartisan Infrastructure Law) to build 1.2 million public chargers to keep up with what the White House said over the summer was rapidly growing demand for EVs.

The $7.5 billion federal funding plan for EV chargers consists of the $5 billion National Electric Vehicle Infrastructure (NEVI) program and the $2.5 billion Charging and Fueling Infrastructure Discretionary Grant Program, both of which are being administered through agencies affiliated with the Department of Transportation (DOT).

However, despite more than $2 billion of the $7.5 billion in federal EV charger funding already authorized under the programs, not even half of states have started to take bids from contractors for construction—and not a single new public charger has been built.

“Already, seven states have issued conditional awards for new NEVI stations amounting to $101.5 million, two states have agreements in place, and 17 states are soliciting proposals for new stations,” the Joint Office of Energy and Transportation, which is leading the Biden administration’s EV charger efforts, said in an update at the end of October.

An initial wave of 26 states are leading the effort to build out the public EV charger network, with Ohio being the first to break a public EV charger construction project funded by the NEVI program.

The Epoch Times has reached out to the Federal Highway Administration (FHWA), which is administering the $5 billion NEVI program, with a request for more up-to-date information about the status of the various federally-funded EV charger projects.

Many Republicans have been lukewarm on the idea of federal funding for EV infrastructure, with former President Donald Trump voicing staunch opposition to EV subsidies, arguing that the government should step aside and let market forces decide what vehicles people drive.

‘On Track’?

While EV sales in the United Sates hit a record 313,086 in the third quarter of 2023, many carmakers are sounding the alarm, saying that demand isn’t keeping up with expectations, forcing them to scale back some EV expansion plans.

Studies show that a key factor hampering widespread EV adoption is so-called “range anxiety,” which is the fear among drivers that their EV will run out of power and grind to a halt on the side of the road with no charger in sight.

In order to alleviate drivers’ range anxiety and support growing EV demand, a recent study from the National Renewable Energy Laboratory (NREL) estimated that the size of the national charging network needs to grow from roughly 3.1 million ports in 2022 to 28 million by 2030, with the vast majority being private chargers.

Currently, there are 182,892 public chargers in the country, according to the Energy Department, with the NREL study estimating that this figure needs to rise to a total of 1.2 million by 2030 to support roughly 33 million light-duty plug-in EVs.

Including the $7.5 billion in taxpayer dollars from the infrastructure bill, the total cumulative investment in publicly accessible charging infrastructure through 2030 is estimated to require an investment of between $31-$55 billion.

When including the private network, that cumulative national investment estimate increases to $53-$127 billion, with 52 percent of the cost being private chargers, 39 percent being public DC fast chargers, and 9 percent public L2 chargers, per the NREL study.

Over the summer, the White House said in a fact sheet that the Biden administration is “on track” to install a network of 1.2 million public chargers by 2030.

Gabe Klein, executive director of the Joint Office of Energy and Transportation, told Politico in a recent interview that it may be slow going for now—but that will change.

“You have to go slow to go fast,” Mr. Klein told the outlet. “These are things that take a little bit of time, but boy, when you’re done, it’s going to completely change the game.”

“I’m probably more excited now … than I’ve been anytime since I took this job because everybody’s paddling in the right direction—purple state, blue state, red state,” Mr. Klein added.

“Everybody’s seeing the impact of the investments,” he insisted.

Meanwhile, Secretary of Transportation Pete Buttigieg, who has been a key figure helping President Biden push EVs onto a reluctant public, recently acknowledged that there weren’t enough chargers to satisfy demand—and that some existing ones don’t work.

His admission came as the federal agency he helms announced $100 million in funding for repairing and replacing exsting EV charging stations.

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ANTISEMITISM

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

Trump Campaign Strikes Back At ‘Dictator’ Hit-Piece In WaPo, Gaetz Says ‘Green-Lighting Assassination’

WEDNESDAY, DEC 06, 2023 – 06:05 AM

Over the last week, several outlets published articles warning that a second Trump term would turn America into a dictatorship.

The Washington Post most notably ran a piece written by Robert Kagan, husband of Former State Department official Victoria Nuland (who was deeply involved in peddling the Steele dossier) titled “A Trump dictatorship is increasingly inevitable. We should stop pretending.”

Many suggested this was a clear call to assassinate the former US President.

Let’s stop the wishful thinking and face the stark reality: There is a clear path to dictatorship in the United States, and it is getting shorter every day. In 13 weeks, Donald Trump will have locked up the Republican nomination.

…

[…] Are we going to do anything about it? To shift metaphors, if we thought there was a 50 percent chance of an asteroid crashing into North America a year from now, would we be content to hope that it wouldn’t? Or would we be taking every conceivable measure to try to stop it, including many things that might not work but that, given the magnitude of the crisis, must be tried anyway?

Rep. Matt Gaetz (R-FL) said in response on X, “They’re obviously green-lighting assassination.”

In addition to the post, The Atlantic and the NY Times have also published stories warning of a “Trump dictatorship” in recent days, with the Times suggesting that a second Trump term would likely be more radical than his first, The Hill reports.

“All of these articles calling Trump a dictator are about one thing: legitimizing illegal and violent conduct as we get closer to the election,” wrote Sen. JD Vance (R-OH) on X. “Everyone needs to take a chill pill.”

“It’s August 2016 all over again. Skyrocketing cost of health care has millions worried. President Trump’s Dem. opponent off the campaign trail & hiding from the press,” wrote senior Trump adviser Jason Miller on X, adding “Dems & their media allies have given up on debating issues & have shifted to name-calling & rhetorical fearmongering.”

Trump campaign responds

“This is nothing more than another version of the media’s failed and false Russia collusion hoax,” said Trump spox Steven Cheung, referring to The Atlantic‘s project to devote their January/February issue to analyzing what a second Trump term would mean for immigration, civil rights, the Justice Department, climate and more.

Other Trump allies similarly chimed in, with Rep. Mike Waltz (R-FL) saying that the Atlantic is using “the same hysterical scare tactics from 2016 & 2020 to attack Trump,” while Rep. Wesley Hunt (R-TX) said in response to WaPo that the left has gone into “FULL PANIC Mode,” and said that instead – a second Trump term would mean “the end of dictators in America, NOT the beginning.”

Meanwhile Trump’s detractors, such as Rep. Jamie Raskin (D-MD), told MSNBC last month that a second Trump term “would look a lot like Viktor Orban in Hungary — illiberal democracy, meaning democracy without rights, or liberties, or respect for the due process, the system, the rule of law.”

Liz in the wings

This was hard to write with a straight face… Liz Cheney on Tuesday even floated the idea of running as a 3rd party candidate to disrupt Trump’s momentum.

“I certainly hope to play a role in helping to ensure that the country has … a new, fully conservative part,” she told USA Today, adding “And so whether that means restoring the current Republican Party, which … looks like a very difficult if not impossible task, or setting up a new party, I do hope to be involved and engaged in that.”

“I think that the situation that we’re in is so grave, and the politics of the moment require independents and Republicans and Democrats coming together in a way that can help form a new coalition, so that may well be a third-party option,” she continued.

Talk about delusions of grandeur!

END

She is a Trump appointed judge!

Judge Denies Jack Smith’s Request To Conceal Documents In Trump Classified Materials Case

WEDNESDAY, DEC 06, 2023 – 09:15 AM

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

A federal judge has denied special counsel Jack Smith’s request to keep some documents hidden in former President Donald Trump’s classified documents case.Special counsel Jack Smith speaks to the media about an indictment of former President Donald Trump at an office of the Department of Justice in Washington on Aug. 1, 2023. (AP Photo)Judge Aileen Cannon, who’s overseeing the trial in former President Donald Trump’s classified documents case, has rejected a motion by special counsel Jack Smith to keep some documents hidden from President Trump’s defense.

In an order signed on Dec. 4, Judge Cannon directed a court clerk to unseal multiple documents that Mr. Smith’s team sought to keep sealed in the case that accuses the former president of retaining sensitive government materials, including some that were marked top secret, at his Mar-a-Lago home.

President Trump has said he used presidential powers to declassify the materials, insisting that he isn’t guilty and calling the case an attempt by his political foes to hamper his 2024 presidential run.

The former president’s longtime aide Walt Nauta and Mar-a-Lago property manager Carlos De Oliveira have been named as co-defendants in the case; both also have pleaded not guilty.

President Trump’s defense team and Mr. Smith’s prosecutors have been litigating over what portion of classified materials the defendants are allowed to view, with the judge’s latest decision delivering a win of sorts for the co-defendants.

“In light of the Special Counsel’s Response to Defendants Motion to Unseal 230, and mindful of the strong presumption in favor of public access to judicial documents, the Clerk is directed to unseal docket entries 223, 224, and 230,” Judge Cannon’s Dec. 4 order reads.

More Details

The newly unsealed docket entry 230, a response by prosecutors to a Dec. 1 court order, shows that Mr. Smith’s team agreed to unseal the documents, as requested by the defense, although prosecutors insisted on some redactions.

“The defendants did not oppose the Government’s request, but reserved the right to challenge the redactions later,” the document reads.

Mr. Smith’s team also revealed in the newly unsealed court filing that prosecutors initially opposed unsealing 223 and 224 because it “would have revealed to defense counsel information, albeit unclassified, about the contours of the Government’s planned CIPA Section 4 motion,” meaning that it risked giving President Trump’s legal team an opportunity to more effectively counter Mr. Smith’s moves.

President Trump has been charged with retaining national defense information, meaning that his case will be tried under the complex rules laid out in the Classified Information Procedures Act (CIPA), which governs how those documents can be used in court.

A CIPA Section 4 motion asks the judge to redact certain information from the classified documents that are turned over to the defense.

The seven-stage CIPA process is sequential, meaning that one stage has to be completed before going on to the next. A key issue is that a delay at one stage of the CIPA process can affect the entire trial schedule.

President Trump’s attorneys wanted the trial to take place after the 2024 election, while Mr. Smith’s team has pushed for a faster timetable.Republican presidential candidate former President Donald Trump speaks at a commit-to-caucus campaign event at the Whiskey River bar in Ankeny, Iowa, on Dec. 2, 2023. (Scott Olson/Getty Images)

Mr. Smith said in the 230 filing that the reason he no longer opposes keeping the documents hidden from the public is that the court earlier ordered full, unredacted versions of the 223 and 224 docket entries to be provided to President Trump’s lawyers.

“Because the Court rejected that position and ordered the Government to provide unredacted versions of the two docket entries to defense counsel, there is no justification for keeping them from the public,” the special counsel wrote.

In a recent ruling in the classified documents case, Judge Cannon granted in part and denied in part the defense’s request to postpone deadlines, including the trial.

Possible Change to Trial Date

While Judge Cannon denied the defense’s motion to change the trial date, she said a delay would “be considered at a scheduling conference on March 1, 2024,” which is just three days before President Trump’s trial is set to start in another case that Mr. Smith is prosecuting in Washington.

Citing the “high volume” of classified discovery, the judge wrote that it’s “most prudent, given the evolving complexities in this matter, to adjust the first batch of pre-trial deadlines.” She said that she couldn’t “ignore the realities” of President Trump’s several other trial schedules.

The order sets new deadlines for discovery, including a joint discovery status report on Jan. 9, 2024, and a pretrial motions deadline for Feb. 22, 2024, the last deadline before the rest of the trial schedule will be decided after a March 1, 2024, hearing.

In Washington, Mr. Smith is prosecuting President Trump in a case that accuses him of illegally interfering with the 2020 elections, and the trial is set for March 4, 2024.

Defense attorneys have said numerous times that they need time to go through 1.3 million pages of unclassified discovery, 5,500 pages of classified discovery, and 60 terabytes of security video footage.

Defense attorneys have said they will seek to compel additional material from the special counsel’s office and from the FBI.

The special counsel’s office, meanwhile, is seeking to prevent some of the already-produced classified discovery from the defendants.

Catherine Yang contributed to this report.

END

VP Biden Linking Ukraine Loan To Prosecutor’s Firing Surprised State Department Officials, Emails Show

WEDNESDAY, DEC 06, 2023 – 03:20 PM

Authored by Mark Tapscott via The Epoch Times,

Key White House and National Security Council and State Department officials were caught by surprise when they learned in January 2016 that then-Vice President Joe Biden had abruptly changed U.S. policy to require the firing of Ukrainian Special Prosecutor Viktor Shokin as a condition for receiving $1 billion in U.S.-backed International Monetary Fund (IMF) loans, according to House Judiciary Committee Chairman Jim Jordan (R-Ohio) citing emails reviewed by The Epoch Times.

“There are State Department emails where they are, like, ‘Oh!’ surprised. There were people in the State Department saying, ‘Oh, Biden says they aren’t getting the money unless Shokin is fired,’ and they are surprised, saying, ‘Why did you do that, we didn’t talk about this; we didn’t plan that.’ So it was a total change from the consensus where the State Department was,” Mr. Jordan told reporters during a Monday question-and-answer session focused on the status of the House impeachment investigation of President Biden.

That probe is technically only an “inquiry,” but it is expected to be upgraded to an official House investigation with a vote next week in the lower chamber. Mr. Jordan told reporters Monday that he is confident the Republican majority will prevail in that vote despite having only a two-vote advantage over Democrats.

Whether the vice president was pushing for Mr. Shokin’s ouster to aid his son Hunter Biden’s business dealings is a focus of the impeachment inquiry. Hunter Biden sat on the board of Ukrainian energy firm Burisma, which was being investigated by Mr. Shokin.

Investigators with Mr. Jordan’s panel and the House Committee on Oversight and Accountability, chaired by Rep. James Comer (R-Ky.), and the House Ways and Means Committee, chaired by Rep. Jason Smith (R-Mo.), are focused on President Biden’s alleged participation in and benefitting from his family’s receipt of millions of dollars of income throughout a period of several decades from individuals, as well as corporate and state entities, in Ukraine, China, Russia, Kazakhstan, and Romania during and after the senior Biden’s years as Vice-President under President Barack Obama.

Surprise From Officials

In one of the State Department emails to which Mr. Jordan referred, Eric Ciaramella, a White House National Security Council (NSC) deputy national intelligence officer for Russia and Eurasia, expressed shock to three colleagues on Jan. 21, 2016, saying, “Yikes. I don’t recall this coming up in our meeting with them on Tuesday.”

Mr. Ciaramella, who did not respond to The Epoch Times’ request for comment, was reacting to an email sent earlier in the day from Elisabeth Zentos, an NSC colleague that was also addressed to Geoffrey Pyatt, U.S. Ambassador to Ukraine from 2013 to 2016, and Anna Makanju, who was then a Special Adviser to Mr. Biden for Europe and Eurasia. Mr. Ciaramella is now a Senior Fellow with the Carnegie Endowment for International Peace.

Mr. Pyatt, who is presently the State Department’s Assistant Secretary for Energy Resources, could not be reached for comment, according to a State Department spokesman, because he is in Dubai attending the COP28 Climate Change International Conference. Ms. Makanju, who is now Vice President for Global Affairs at San Francisco-based OpenAI, did not respond to The Epoch Times request for comment.

Mr. Pyatt responded to the Zentos email, saying, “Buckle in,” and adding, “We also need to readdress all the LG [loan guarantee] anti-corruption conditions … and at this stage, there’s only one that really matters.” Ms. Makanju did not respond in the email thread reviewed by The Epoch Times.

Mr. Jordan said State Department officials were surprised to learn of Mr. Biden’s ultimatum to Mr. Poroshenko because it was previously settled U.S. policy to pressure Ukraine to root out official corruption that had plagued the country since it declared its independence from the former Soviet Union in 1991.

But until Mr. Biden did so, the U.S. had not made Ukraine’s receipt of the IMF loan guarantees conditional upon Mr. Shokin’s removal. Briefing materials reviewed by the vice president during his December 2015 flight to Ukraine included planning for him to sign the U.S. agreement to back the IMF loans, with no reference to firing Mr. Shokin.

The judiciary chairman contends Mr. Biden’s abrupt reversal followed from the fact his son, Hunter Biden, was a member of the board of directors of the Ukrainian energy company Burisma, which was being actively investigated by Mr. Shokin regarding allegations of corruption.

Rep. Jim Jordan (R-Ohio) speaks to the press after coming out of the Hunter Biden special counsel David Weiss’s closed-door testimony to the House Judiciary Committee in Washington on Nov. 7, 2023. (Madalina Vasiliu/The Epoch Times)

‘Called An Audible’

Mr. Jordan noted that during a Dec. 4, 2015, meeting in Dubai between Burisma executives Mykola Zlochevsky and Vadym Pozharsky and Hunter Biden and Devon Archer, one of his business partners, the Ukrainians pleaded with the Americans to do something to relieve the “government pressure” they were receiving from the Shokin investigation of corruptions allegations against Mr. Zlochevsky.

Mr. Archer told the oversight committee during a closed-door transcribed interview that in response to those pleas, Hunter Biden “called DC,” referring to his father, the vice president. Three days later, the vice president, according to the Washington Post, “called an audible”—changed his plans—to reverse U.S. policy and demand Mr. Shokin’s firing.

In a summary timeline of the events, the oversight committee observed that “Devon Archer joined the Burisma board of directors in the spring of 2014 and was joined by Hunter Biden shortly thereafter. Hunter Biden joined the company as counsel, but after a meeting with Burisma owner Mykola Zlochevsky in Lake Como, Italy, was elevated to the board of directors in the spring of 2014.

“Both Biden and Archer were each paid $1 million per year for their positions on the board of directors. In December 2015, after a Burisma board of directors meeting, Zlochevsky and Hunter Biden ‘called DC’ in the wake of mounting pressures the company was facing. Zlochevsky was later charged with bribing Ukrainian officials with $6 million in an attempt to delay or drop the investigation into his company.”

The oversight panel has to date documented $6.5 million in income to the Biden family and their associates from their Ukrainian activities.

The Epoch Times has reached out to the State Department and National Security Council for comment.

JUST IN..

Texas, The Daily Wire, & The Federalist Sue US State Dept For Conspiring With Newsguard To Censor American Media Companies

BY TYLER DURDEN

WEDNESDAY, DEC 06, 2023 – 12:40 PM

Following bombshell censorship revelations exposed over the last year, beginning with the Twitter Files, the state of Texas, The Daily Wire, and The Federalist have filed a lawsuit against the US State Department on Tuesday, alleging that the government agency funded censorship technology designed to bankrupt domestic media outlets which have disfavored political opinions.  Read the 67-page complaint here.

According to the Daily Wire‘s Luke Rosiak;

The State Department is tasked with foreign relations and has no authority over domestic affairs, yet it took a government office designed for countering foreign terrorist propaganda, the Global Engagement Center (GEC), and unleashed it against Americans engaged in what it claimed was “disinformation,” according to the lawsuit, filed in federal court in the Eastern District of Texas on Tuesday night by the New Civil Liberties Alliance.

It was “one of the most audacious, manipulative, secretive, and gravest abuses of power and infringements of First Amendment rights by the federal government in American history,” said the suit, which also names Secretary of State Antony Blinken and five other officials as defendants.

Of note, the GEC, founded in 2011 under a different name to combat foreign propaganda in a counterterrorism capacity. In establishing the entity, Congress made clear that “none of the funds authorized” for the program “shall be used for purposes other than countering foreign propaganda.”

They of course ignored all that, and turned its focus on Americans according to the complaint, using taxpayer funds to finance and promote censorship shops such as NewsGuard and the Global Disinformation Index (GDI), which target conservative outlets – ZeroHege included – with the stated goal of killing ad revenue.

“Through its Global Engagement Center, the State Department actively intervened in the news-media market to limit the reach and business viability of domestic news organizations by funding censorship technology and private censorship enterprises,” reads a Wednesday press release from Texas Attorney General Ken Paxton.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1732416431692935456&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftexas-daily-wire-and-federalist-sue-us-state-department-conspiring-newsguard-censor&sessionId=5ad1e413e42d7da806cd437750233ad9691da2bf&siteScreenName=zerohedge&theme=light&widgetsVersion=01917f4d1d4cb%3A1696883169554&width=550px

“The State Department’s mission to obliterate the First Amendment is completely un-American. This agency will not get away with their illegal campaign to silence citizens and publications they disagree with.”

As the lawsuit explains, The Daily Wire, The Federalist, and other conservative news organizations were “branded ‘unreliable’ or ‘risky’ by the government-funded and government-promoted censorship enterprises… starving them of advertising revenue and reducing the circulation of their reporting and speech—all as a direct result of [the State Department’s] unlawful censorship scheme.”

The outlets are being represented by The New Civil Liberties Alliance’s Mark Chenoweth, who said that “the federal government cannot do indirectly what the First Amendment forbids it from doing directly.“

As Rosiak notes in the Wire, GDI’s primary product is a “Dynamic Exclusion List” of media outlets that it warns presents a “high risk for disinformation.” For example:

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1635067002569076737&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftexas-daily-wire-and-federalist-sue-us-state-department-conspiring-newsguard-censor&sessionId=5ad1e413e42d7da806cd437750233ad9691da2bf&siteScreenName=zerohedge&theme=light&widgetsVersion=01917f4d1d4cb%3A1696883169554&width=550px

It then licenses that list to advertisers, who use it to avoid boycotts from the left.

That playbook was deployed last month against Elon Musk, when blue-chip advertisers were persuaded to stop advertising on the platform because the Left-wing Media Matters group claimed that big companies’ ads occasionally appeared near objectionable content.

GDI says it aims to destroy “the incentive to create [disinformation] for the purpose of garnering advertising revenues.”

GDI keeps its main blacklist secret, but publicly published its top 10 “riskiest” outlets, which was essentially a list of America’s most prominent and mainstream conservative media publications, including both The Daily Wire and The Federalist, as well as the New York Post, and Reason Magazine. -Daily Caller

According to the lawsuit, GDI “was funded and promoted by State Department Defendants,” which adds that the “State Department Defendants’ active intervention in the news media market to make disfavored media unprofitable thus had devastating consequences to Media Plaintiffs.”

NewsGuard

The State Department also funded the for-profit entity NewsGuard, which says its goals is to “cut off revenues to fake news sites” via a whitelist that purports to promote only ‘legitimate’ news outlets. NewsGuard ranks The Federalist as “unreliable,” and the Daily Wire as “credible with significant exceptions.”

Last month, journalist Lee Fang uncovered that NewsGuard’s largest investor is a Pfizer partner.

As Fang writes;

Founded in 2018 by Crovitz and his co-CEO Steven Brill, a lawyer, journalist and entrepreneur, NewsGuard seeks to monetize the work of reshaping the Internet. The potential market for such speech policing, NewsGuard’s pitch to Twitter noted, was $1.74 billion, an industry it hoped to capture.

Instead of merely suggesting rebuttals to untrustworthy information, as many other existing anti-misinformation groups provide, NewsGuard has built a business model out of broad labels that classify entire news sites as safe or untrustworthy, using an individual grading system producing what it calls “nutrition labels.” The ratings – which appear next to a website’s name on the Microsoft Edge browser and other systems that deploy the plug-in – use a scale of zero to 100 based on what NewsGuard calls “nine apolitical criteria,” including “gathers and presents information responsibly” (worth 18 points), “avoids deceptive headlines” (10 points), and “does not repeatedly publish false or egregiously misleading content” (22 points), etc. 

Critics note that such ratings are entirely subjective – the New York Times, for example, which repeatedly carried false and partisan information from anonymous sources during the Russiagate hoax, gets a 100% rating. RealClearInvestigations, which took heat in 2019 for unmasking the “whistleblower” of the first Trump impeachment (while many other outlets including the Times still have not), has an 80% rating. (Verbatim: the NewsGuard-RCI exchange over the whistleblower.) Independent news outlets with an anti-establishment bent receive particularly low ratings from NewsGuard, such as the libertarian news site Antiwar.com, with a 49.5% rating, and conservative site The Federalist, with a 12.5% rating.

…

Publicis Groupe, NewsGuard’s largest investor and the biggest conglomerate of marketing agencies in the world, which has integrated NewsGuard’s technology into its fleet of subsidiaries that place online advertising. The question of conflicts arises because Publicis represents a range of corporate and government clients, including Pfizer – whose COVID vaccine has been questioned by some news outlets that have received low scores. Other investors include Bruce Mehlman, a D.C. lobbyist with a lengthy list of clients, including United Airlines and ByteDance, the parent company of much-criticized Chinese-owned social media platform TikTok.

*  *  *

NewsGuard was sued in October by Consortium news.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1625338068382146560&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Ftexas-daily-wire-and-federalist-sue-us-state-department-conspiring-newsguard-censor&sessionId=5ad1e413e42d7da806cd437750233ad9691da2bf&siteScreenName=zerohedge&theme=light&widgetsVersion=01917f4d1d4cb%3A1696883169554&width=550px

Read more here via the Daily Wire. We will be following this closely.

THE KING REPORT

The King Report December 6, 2023 Issue 7033Independent View of the News
  China’s blue-chip CSI 300 Index closed at 3394.26 (-1.9%), the lowest close since Feb. 15, 2019.
 
@Sino_Market: BSE 50 Index, the benchmark of the Beijing Stock Exchange, extended its rally to over 7% in the afternoon amid a sell-off in the mainland market.  Stocks on the Beijing Stock Exchange that meet the necessary requirements would be eligible for inclusion in its indexes. The exchange’s new rules led to the recent hype. Chinese A-shares market is struggling. The benchmark SHCOMP fell below the key 3,000 point mark at one time on Tuesday, totally offsetting the rebound since mid-October. Over four thousand stocks are dropping. Hang Seng Index HSI is now down 1.2%, a fresh low since November ‘22.
 
Moody’s Cuts China Credit Outlook to Negative on Rising Debt
Moody’s lowered its outlook to negative from stable while retaining a long-term rating of A1 on the nation’s sovereign bonds, according to a statement. China’s usage of fiscal stimulus to support local governments and its spiraling property downturn is posing risks to the nation’s economy, the grader said… https://finance.yahoo.com/news/moody-cuts-china-credit-outlook-080632429.html
 
China’s Debt Binge Spurs Moody’s to Downgrade Credit Outlook… from stable to negative…
China’s record debt load… is now well over 300% of GDP…
https://www.zerohedge.com/markets/chinas-debt-binge-spurs-moodys-downgrade-credit-outlook
 
China’s Nov services activity accelerates on boost from new orders – Caixin PMI
The Caixin/S&P Global services purchasing managers’ index (PMI) rose to a three-month high of 51.5 in November from October’s 50.4, but it remained softer than the long-run series average…
https://www.reuters.com/markets/asia/chinas-nov-services-activity-accelerates-boost-new-orders-caixin-pmi-2023-12-05/
 
Repo-Market Spikes Conjure Memories of September 2019 US Funding Turmoil – BloombergFunding squeeze drove SOFR benchmark to an all-time high (5.54% on Nov. 30)Latest issues driven by lack of dealer balance-sheet capacityStrains started showing up late last week. The bond-buying frenzy that stoked November’s US debt rally led to a surge in demand for financing in the market for repurchase agreements, where participants engage in short-term lending or borrowing that’s collateralized by government securities…
  The Treasury rally and demand for financing was one factor… a pile of Treasuries on primary dealers’ balance sheets – a byproduct of stepped-up government borrowing and the Federal Reserve’s efforts to shrink its balance sheet – impeded their ability to provide such short-term financing…   
    Bank reserves at the Fed are around $3.4 trillion, a level that policy makers consider to be abundant…
   Leveraged funding continues to rise, outstripping capacity of dealers to provide a significant backup in overnight funding rates… (Bottom line: There is too much leverage and speculation in the market!)
https://www.bloomberg.com/news/articles/2023-12-05/repo-market-spikes-conjure-memories-of-september-2019-us-funding-turmoil
 
JOLTS Job openings slid to 8.733m in October (9.3m exp.), the lowest level since March 2021.  Of course, September was revised to 9.35m from 9.553m.  Bonds soared on this report.
 
S&P Global US Services PMI (Unchanged at 50.8 as expected)
Renewed upturn in new business supports output growth in November https://www.pmi.spglobal.com/Public/Home/PressRelease/36ea7291954b47ec958597de1f1ba59a
 
@BrendanPedersen: Treasury Secretary Yellen has not spoken to Speaker Mike Johnson six weeks since he took office. Thankfully, nothing is going on in the US or global economy. https://link.punchbowl.news/click/33579086
 
Central bank blunders undermine tough rate talk
Policymakers’ recent mistakes mean they will struggle to convince investors their tough talk is real… The titans of central banking could not have been clearer: having hiked borrowing costs to multi-year highs, they intend to keep them there until consumer price growth comes back down to earth. Unfortunately, investors don’t appear to have got the message…
    But if investors continue to believe in early rate cuts, they will make life even more difficult for Powell, Lagarde and Bailey. Lower yields encourage companies and households to take on more debt. That, in turn, can drive more production and consumption…
    Central bankers could, of course, admit they cannot micromanage financial markets. But that too would damage their inflation-fighting credentials…
https://www.reuters.com/breakingviews/central-bank-blunders-undermine-tough-rate-talk-2023-12-05/
 
ESZs declined from the Nikkei opening until they hit a bottom of 4556.50 at 2:27 ET.  The rally for the European opening pump & dump took ESZs to 4566.25 at 3:16 ET.  The dump pushed ESZs down to 4560.50 at 3:48 ET.  After a rally to 4569.00 at 4:26 ET, ESZs headed south and formed a triple bottom of 4555.75 at 7 ET repo market opening, at 7:42 ET (455.50), and 9:24 ET (4556.00).
 
The usual suspects then poured into ESZs, which soared to 4585.00 at 11:05 ET.  Defensive asset allocation then overwhelmed Fed pivot buyers.  ESZs sank to 4561.75 at 12:43 ET.  After a rebound to 4575.25 at 13:22 ET, ESZs traded within a 7-handle range until the last hour rally began near 15:00 ET.
 
ESZs broke above the range by 1 handle but the rally stalled.  ESZs then eased lower until they bounced off 4570.50 at 15:52 ET.  The late manipulation pushed ESZs 7 handles higher by 16:00 ET.
 
Positive aspects of previous session
Fangs were positive all session
 
Negative aspects of previous session
Bonds rallied sharply (USHs +1 28/32) as stocks and commodities declined on defensive asset allocation
Bitcoin traded above 44,000
 
Ambiguous aspects of previous session
Are there any squeezable equity shorts remaining?
 
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down
 
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4565.81
Previous session S&P 500 Index High/Low: 4578.56; 4551.68
 
Israel Weighs Plan to Flood Gaza Tunnels with Seawater – Move could drive out Hamas fighters but threatens to foul Gaza’s freshwater supply and damage infrastructure
   Israel has assembled a system of large pumps it could use to flood Hamas’s vast network of tunnels under the Gaza Strip with seawater, a tactic that could destroy the tunnels and drive the fighters from their underground refuge but also threaten Gaza’s water supply, U.S. officials said…
https://www.wsj.com/world/middle-east/israel-weighs-plan-to-flood-gaza-tunnels-with-seawater-a375dd0b
 
GOP Sen. @SenTomCotton: Iran and its proxies have attacked American troops in Iraq and Syria 76 times since October 17. The administration’s timid air strikes in response against meaningless targets has only emboldened Iran to attack more.
 
Politico: Congress provided $7.5B for electric vehicle chargers. Built so far: Zero. – The sluggish rollout could undermine President Joe Biden’s reelection messaging promoting electric vehicles.
    Congress at the urging of the Biden administration agreed in 2021 to spend $7.5 billion to build tens of thousands of electric vehicle chargers across the country … States and the charger industry blame the delays mostly on the labyrinth of new contracting and performance requirements they have to navigate to receive federal funds…
https://www.politico.com/news/2023/12/05/congress-ev-chargers-billions-00129996
 
Hunter Biden’s direct payments to father coincided with Chinese transfers, bank inquiries
Wells Fargo compliance officers were questioning the flow of funds in his business accounts…
https://justthenews.com/accountability/political-ethics/hunter-bidens-direct-payments-father-coincided-chinese-transfers
 
New House report asserts special treatment for Hunter Biden by DOJ and FBI
The 77-page interim report, released by the House’s Judiciary, Ways and Means, and Oversight and Accountability committees is the “third prong” of House Republicans’ impeachment inquiry into President Biden… The congressional investigators made three conclusions that they say are born from documents and 10 witness interviews:The Justice Department and FBI officials gave special treatment to Hunter BidenU.S. Attorney David Weiss did not have the “ultimate authority” over the Hunter Biden case as he claimed to CongressThe Biden Justice Department engaged in a cover-up of the Hunter Biden case after the IRS whistleblowers came forward earlier this year…https://justthenews.com/accountability/political-ethics/new-house-report-asserts-special-treatment-hunter-biden-doj-and-fbi
 
Today – Defensive asset allocation prevented a Turnaround Tuesday to the upside.  Traders will play for an equity rally because sentiment is unabashedly euphoric – and the window to be reckless will close late on Thursday due to the release of the November Employment Report on Friday.
 
ESZs are +11.50 (traders expect a rally); USHs are -5/32 and Feb AU is +2.30 at 20:37 ET.
 
Expected economic data: Nov ADP Employment Change 130k; Q3 Nonfarm Productivity 4.9%, Unit Labor Costs -0.9% (Bidenomics!); Oct Trade Balance -$64.2B
 
S&P 500 Index 50-day MA: 4360; 100-day MA: 4420; 150-day MA: 4370; 200-day MA: 4286
DJIA 50-day MA: 34,095; 100-day MA: 34,468; 150-day MA: 34,212; 200-day MA: 33,926
(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 4484.89 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 4599.66 triggers a buy signal
 
@DavidSacks: Even Lindsey Graham is now saying he won’t send more aid to Ukraine “until we help ourselves.”  The fat lady’s singing. This thing is over. https://twitter.com/DavidSacks/status/1731737161152798766
 
Yellen Says US Responsible for Ukraine Defeat if Funding Stops – BBG (She’s a pol hack & a dolt!)
FBI interviewed priest, church choir director ahead of anti-Catholic memo, House GOP finds
Panel found ‘no legitimate basis’ for the memo inserting federal law enforcement into Catholic churches
https://www.foxnews.com/politics/fbi-interviewed-priest-church-choir-director-ahead-of-anti-catholic-memo-house-weaponization-committee-finds
 
@CollinRugg: Two rioters who were responsible for burning down the Wendy’s in Atlanta during the BLM riots have pleaded guilty to conspiracy to commit arson and two counts of first-degree arson. Their punishment?  Chisom Kingston and Natalie White will have to pay a $500 fine, 150 hours of community service and 5 years of probation… (Compared to Jan. 6 sentences – two-tier justice in the USA)
 
@SKMorefield: Ron DeSantis challenges Donald Trump to a one-on-one debate. He’d never accept, because he’s old and slow and a big chicken, but it’s important to keep challenging nonetheless. “Stop being a keyboard warrior and let’s step up and debate one-on-one. He’s had a lot to say about me over the last year. Say it to my face. I’m game.”  https://twitter.com/SKMorefield/status/1731838761720217608
 
@VivekGRamaswamy: Can’t make this stuff up. Here’s Biden, nearly a decade ago, sitting next to none other than Mayorkas proselytizing the grand “right-wing myth” known as the Great Replacement Theory. Turns out it’s not a conspiracy theory, it’s just the basic immigration policy for Democrats.
https://twitter.com/VivekGRamaswamy/status/1731888060848132097
 
Germany is the sick man of Europe – and the prognosis is grim
As Germany’s highest court ruled current spending plans unconstitutional, it finally destroyed the nation’s cherished myth of fiscal prudence…
      Economy minister Robert Habeck warned of a 0.5 per cent drop in growth next year while Scholz told lawmakers that the ruling marked the beginning of “a new reality”, one which makes “goals more difficult for our country to achieve”… The necessary cuts will hit Germans amid a cost-of-living crisis. The number of Germans not being able to heat their houses properly has already doubled since 2021…
     Berlin is no longer in a position to lecture, or indeed bail out, fellow European states. As the fog of Germany’s self-delusion lifts, the deep cracks underneath are visible to all.
https://news.yahoo.com/germany-sick-man-europe-prognosis-181528401.html
   
Former German spy chief says European leaders want a “different population”  https://ift.tt/QPHjUML
Germany’s former top domestic spy chief, Hans-Georg Maaßen, expressed concerns about an unprecedented crisis in Europe due to mass immigration and the potential conquest of Europe by Islam.
 
Amid planned protests, Gov. Newsom won’t hold public Capitol Christmas tree lighting ceremony
The update comes about a week after police arrested several people following a large pro-Palestinian protest in New York City at Rockefeller Center’s tree-lighting ceremony. Demonstrators have also disrupted tree-lighting ceremonies in other cities and states including Boston and Michigan.
https://www.kcra.com/amp/article/california-capitol-christmas-tree-lighting-ceremony-virtual/46042922
 
Biden rips Hamas for ‘repeatedly raping’ women and girls and ‘mutilating their bodies while they were still alive’ https://trib.al/cNWEB5c
 
@NowTheEndBegins: “Allah allows Muslim men to rape non-Muslim women in order to humiliate them. If we fought Israel we can take their (Jewish) women as sex sIaves and rape them. It is allowed in the Quran and the hadiths” — Islamic scholar. https://twitter.com/NowTheEndBegins/status/1731768493031256526
     @DavidM_Friedman: Perhaps a comment on this from a women’s organization? Any organization?
 
@i24NEWS_EN: ‘Where the hell are you?’ Israel’s PM Netanyahu delivers a speech following a war cabinet meeting, addressing the silence from women’s rights and human rights organizations following the sexual violence used by Hamas on October 7.  https://twitter.com/i24NEWS_EN/status/1732125976316788807
 
Fox News: AOC claims women will face ‘genital examinations’ if biological men barred from female sports (Decades of liberal privilege have engendered the issuance or really stupid Schiff!)
 
House Judiciary GOP @JudiciaryGOP: Let us get this straight… DOJ’s U.S. Assistant Attorney General for the Civil Rights Division Kristen Clarke IS NOT familiar with Missouri v Biden, one of the most massive attacks on free speech in American history and the largest Supreme Court case this year. WOW.
https://twitter.com/JudiciaryGOP/status/1732071935029268597
 
US 10th-graders score lowest ever on international math test: ‘Whole world is struggling’ https://trib.al/F2TjQbh
 
@BillAckman: The presidents of @Harvard, @MIT, and @Penn were all asked the following question under oath at today’s congressional hearing on antisemitism: Does calling for the genocide of Jews violate [your university’s] code of conduct or rules regarding bullying or harassment?
  The answers they gave reflect the profound moral bankruptcy of Presidents Gay, Magill and Kornbluth.
In short, they said: It ‘depends on the context’ and ‘whether the speech turns into conduct,’ that is, actually killing Jews… The presidents’ answers reflect the profound educational, moral and ethical failures that pervade certain of our elite educational institutions due in large part to their failed leadership.  Don’t take my word for it.
    You must watch the following three minutes. By the end, you will be where I am.  They must all resign in disgrace… Why has antisemitism exploded on campus and around the world?  Because of leaders like Presidents Gay, Magill and Kornbluth who believe genocide depends on the context.
https://twitter.com/BillAckman/status/1732179418787783089

GREG HUNTER  interviewing Karen Kingston

Pfizer Lawsuit Awakens US to Mass CV19 Vax Murders – Karen Kingston

Pfizer Lawsuit Awakens US to Mass CV19 Vax Murders – Karen Kingston

By Greg Hunter On December 5, 2023 In Market Analysis32 Comments

By Greg Hunter’s USAWatchdog.com 

Karen Kingston is a biotech analyst and former Pfizer employee who says Texas AG Ken Paxton’s recent lawsuit is charging Pfizer for many “lies” about their CV19 vax being safe and effective.  Kingston contends this is going to begin a great awakening to the murders and disease caused by these injections.  Many doctors now say the CV19 vax did not help a single person.  Let that sink in.  Kingston explains, “What Paxton and his team are going to do is expose thousands and thousands of lies that you were told by Pfizer and, specifically, CEO Albert Bourla.  Albert Bourla went on a campaign of deception and a lying spree that resulted in a killing spree, and Bourla knew it. Ken Paxton and his legal team are charging Pfizer under the Deceptive Trade Practices Act of Texas.  There are five counts they are being charged with across 18 violations.  The 95% efficacy was not what you thought it was. . . . There was no evidence that it would stop transmission and infecting others.  There was no evidence it worked against the variants.  Then . . . there was the charge of scheming to suppress the truth about the failing vaccine. . . . This is huge.”

How big is this?  Kingston says, “It could be $350 billion in fines for Pfizer, and they cannot get out of this by going bankrupt.”

Kingston goes on to say, “I think the actual truth is you were not injected with a vaccine.  The immune response you got, and they called it a robust response, is really your body’s response to being poisoned to foreign material that is in your body.  It’s genetic material as well as inorganic material.  This is not a vaccine, and people were involved in criminal human experimentation as were their children.  They were experimented on with a biotechnology pathogen.  This is per our National Institutes of Health and our U.S. military.”

Kingston started warning about the death and dangers of this CV19 vax more than two years ago on USAWatchdog.com.  She called the CV19 vax “poison,” and the millions of deaths and injuries worldwide prove her right.  Sadly, Kingston will continue to be right.  She says the peak in disabilities won’t happen until 2025, and peak deaths from the CV19 injections come after that.  Kingston says, “I also predicted that people would be dying from aggressive cancers and large cancer tumors out of nowhere.  I also said this is criminal, you can sue Pfizer and you can have criminal charges against Pfizer.  I think we are going to get a great awakening to do that, and people do not have to remain a victim.  This is murder, and it is no different than me having a cupcake company and I put cyanide in the cupcakes. . . .and I did not expose to you my natural ingredients.  That’s murder.”

There is much more in the 1-hour and 2-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned biotech analyst Karen Kingston as she gives another update on the bioweapon mRNA/nanoparticle injections and why the recent Texas AG Pfizer lawsuit will cause a CV19 vax great awakening to mass murder for 12.5.23.

(To Donate to USAWatchdog.com Click Here)

Pfizer Lawsuit Awakens US to Mass CV19 Vax Murders – Karen Kingston

After the interview:

Click here for the Trump/Pfizer CV19 vax contract, and click here for the Texas AG Pfizer lawsuit.

To support Kingston financially, you can become a subscriber to her Substack by clicking here.

You can also get information on The Wellness Company by clicking here.

(Please support the truthtellers.)

SEE YOU THURSDAY

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