GOLD PRICE CLOSED: DOWN $0.20 TO $2029.80

SILVER PRICE CLOSED: DOWN 15 CENTS AT $23.77

Access prices: closes 4: 15 PM

Gold ACCESS CLOSED 2025.50

Silver ACCESS CLOSED: 23.89

DEC 6

Shanghai Gold Benchmark Price

USD oz

AM2048.48

PM2053.45

Historical SGE Fix

SHANGHAI GOLD PREMIUM OVER NY: 21 DOLLARS

Bitcoin morning price:, 43,289 DOWN 1053 DOLLARS

Bitcoin: afternoon price: $43,181 DOWN 1161. dollars

Platinum price closing $914.00 UP $21.35

Palladium price; $975.75 UP $25.85

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: $2,759.03 UP $5.90 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)

*BRITISH GOLD: 1612.16 DOWN 1.937 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BPOUNDS/OZ) OCT 2/2023

*EURO GOLD: 1880.00 DOWN 1.66 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: 2,030.500000000 USD
INTENT DATE: 12/06/2023 DELIVERY DATE: 12/08/2023
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 95
657 C MORGAN STANLEY 6
661 C JP MORGAN 81
690 C ABN AMRO 2
700 C UBS 5
732 C RBC CAP MARKETS 8
737 C ADVANTAGE 14 8
905 C ADM 1

TOTAL: 110 110
MONTH TO DATE: 12,430

TOTAL: 327 327
MONTH TO DATE: 12,320

JPMorgan stopped 81/110 contracts.

FOR DEC.:

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT: 110 NOTICES FOR 11000 OZ or 0.3421 TONNES

total notices so far: 12,430 contracts for 1,243,000 oz (38.662 tonnes)

FOR DEC:

SILVER NOTICES 112 NOTICE(S) FILED FOR 560,000 OZ/

total number of notices filed so far this month : 2510 for 12,550,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD DOWN 20 CENTS//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / NO CHANGES IN GOLD INVENTORY AT THE GLD:

INVENTORY RESTS AT 880.83 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 15 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 STRONG SIZED 540 CONTRACTS TO 139,213 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.25 LOSS IN SILVER PRICING AT THE COMEX ON TUESDAY. WE HAD A SMALL LONG LIQUIDATION BUT CONSIDERABLE SHORT COVERING AT THE COMEX SESSION. WE HAD A MEGA GIGANTIC 2005 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 WEDNESDAY NIGHT: 2005 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 $0.25), AND WERE SUCCESSFUL IN KNOCKING SOME SILVER LONGS AS WE HAD A SMALL SIZED LOSS OF 340 OI CONTRACTS ON OUR TWO EXCHANGES.

WE MUST HAVE HAD:

A SMALL SIZED 200 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 25,000 OZ E.F.P. JUMP TO LONDON //NEW TOTAL STANDING 18.400 MILLION OZ.+ 3.5 MILLION EX. FOR RISK/PRIOR= NEW TOTAL OF 21.900 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 21.900 MILLION OZ

//SMALL SIZED COMEX OI GAIN/ SMALL SIZED EFP ISSUANCE/VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 2005 CONTRACTS)/

0 SIZED EX.FOR RISK =0 CONTRACTS

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 836 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 5 days, total 4286 contracts: OR 21.430 MILLION OZ (857 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 21.430 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. 21.43 MILLION OZ//THIS IS GOING TO BE A STRONG ISSUANCE OF EFP’S FOR THIS MONTH.

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 540 CONTRACTS WITH OUR LOSS IN PRICE OF $0.25 IN SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 200 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 25,000 OZ E.F.P. JUMP TO LONDON /NEW TOTAL STANDING 18.400 MILLION OZ//+ 3.5 MILLION EX. FOR RISK/PRIOR//NEW TOTAL 21.900 MILLION OZ.

NEW STANDING 21.900 million OZ /// WE HAVE A GOOD SIZED LOSS OF 340 OI CONTRACTS ON THE TWO EXCHANGES. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 2005 CONTRACTS//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION. THE NEW TAS ISSUANCE WEDNESDAY NIGHT (2005) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

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

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 513 CONTRACTS TO 486,956 AND FURTHER FROM 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 1562 CONTRACTS

WE HAD A SMALL SIZED DECREASE IN COMEX OI ( 513 CONTRACTS) DESPITE OUR $11.70 GAIN IN PRICE//WEDNESDAY. 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 22,400 OZ E.F.P JUMP TO LONDON + 0 ISSUANCE OF EX. FOR RISK CONTRACTS // TOTAL GOLD STANDING FOR DEC SO FAR DECREASES TO 46.173 TONNES // ALL OF..THIS HAPPENED WITH OUR $11.70 GAIN IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 3145 OI CONTRACTS (9.782) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2096 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 486,956

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1583 CONTRACTS WITH 513 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 2070 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1583 CONTRACTS OR 4.923 TONNES. WE HAD 0 CONTRACTS EXCHANGE FOR RISK FOR 0.0 TONNES/EX FOR RISK PRIOR = 4.634 TONNES//NEW TOTAL STANDING 41.539 TONNES + 4.634 TONNES= 46.173 TONNES.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD 1099 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2096 CONTRACTS) ACCOMPANYING THE SMALL SIZED LOSS IN COMEX OI (513) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1583 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 22,400 OZ E.F.P. JUMP TO LONDON + 4.634 TONNES EX. FOR RISK PRIOR//NEW STANDING 46.173 TONNES / / 3) ZERO LONG LIQUIDATION AND SOME TAS LIQUIDATION BUT CONSIDERABLE SHORT LIQUIDATION 4) SMALL SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: GOOD T.A.S. ISSUANCE: 1099 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: 23,245 CONTRACTS OR 2,324,500 OZ OR 72.30 TONNES IN 5 TRADING DAY(S) AND THUS AVERAGING: 4649 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 5 TRADING DAY(S) IN TONNES 72.30 TONNES

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

THUS EFP TRANSFERS REPRESENTS 72.30/3550 x 100% TONNES 2.02% 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. 72.30 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 STRONG SIZED 540 CONTRACTS OI TO 140,049 AND CLOSER TO OUR COMEX HIGH RECORD //244,710(SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 5 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 200 CONTRACTS

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

DEC 200 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 200 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 540 CONTRACTS AND ADD TO THE 200 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 340 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTAL 1.7 MILLION OZ

OCCURRED WITH OUR $0.25 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//

THURSDAY MORNING/WEDNESDAY NIGHT

SHANGHAI CLOSED DOWN 2.73 PTS OR 0.09% //Hang Seng CLOSED DOWN 117.37 PTS OR 0.71% /The Nikkei CLOSED DOWN 587.59 PTS OR 1.76% //Australia’s all ordinaries CLOSED DOWN 0.03 % /Chinese yuan (ONSHORE) closed DOWN AT 7.1533 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1623 /Oil DOWN TO 69.83 dollars per barrel for WTI and BRENT DOWN AT 74.77/ Stocks in Europe OPENED ALL RED// 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 SMALL SIZED 540 CONTRACTS TO 486,956 DESPITE OUR GOOD GAIN IN PRICE OF $11.70 WITH RESPECT TO WEDNESDAY TRADING. WE MUST HAVE SOME SPEC LIQUIDATIONS IN THE SESSION (AT HIGHER 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 2096 EFP CONTRACTS WERE ISSUED: : FEB 2096 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2096 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1,583 CONTRACTS IN THAT 2096 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A SMALL SIZED LOSS OF 513 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR GAIN IN PRICE OF $11.70//WEDNESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A GOOD SIZED 1099 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 (46.170 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. 41.539 + 4.634 TONNES OF EXCHANGE FOR RISK = 46.170 TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $11.70) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR SIZED GAIN OF 1583 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A GOOD T.A.S. LIQUIDATION ON THE FRONT END OF WEDNESDAY’S TRADING . THE T.A.S. ISSUED ON WEDNESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED SOME SPECULATOR SHORT COVERING

WE HAVE GAINED A TOTAL OI OF 4.923 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 22400 OZ E.F.P JUMP TO LONDON (FOR 0.6967 TONNES)//NEW TOTAL STANDING FALLS TO 41.539 + 4.634 TONNES EXCHANGE FOR RISK : NEW TOTAL 46.173 TONNES../ ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $11.70

WE HAD REMOVED –1562 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 1583 CONTRACTS OR 158,300 OZ OR 4.923 TONNES.

Estimated gold volume today:// 173,986 poor

final gold volumes/yesterday 168,073 poor

//speculators have left the gold arena

DEC 7

/ /// THE DEC. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	3375.855 oz Brinks 105 kilobars .
Deposit to the Dealer* Inventory in oz*	nil OZ
Deposits to the Customer* Inventory, in oz*	nil
No of oz served (contracts) today	110 notice(s) 11000 OZ 0.3421 TONNES
No of oz to be served (notices)	925 contracts 92,500 oz 0.2877 TONNES
Total monthly oz gold served (contracts) so far this month	12,430 notices 1,243,000 oz 38.662 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposit:

total dealer deposits: nil oz

customer deposits: 0

total customer deposits: nil oz

we had 1 customer withdrawal

i) Out of Brinks 3,375.855 oz (105 kilobars)

total withdrawals 3375.855 oz

Adjustments; 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.

For the front month of DECEMBER we have an oi of 1035 contracts having LOST 551 contracts. .We had 327

contracts served upon WEDNESDAY, so we LOST or an additional 224 CONTRACTS OR 22,400 OZ (0.6967 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. LOST 136 contracts FALLING TO 3642 contracts.

FEB LOST 1990 CONTRACTS FALLING TO 391,456.

We had 110 contracts filed for today representing 11,000 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 110 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 81 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 (12,430 x 100 oz ), to which we add the difference between the open interest for the front month of DEC. (1035 CONTRACTS) minus the number of notices served upon today 110 x 100 oz per contract equals 1,335,500 OZ OR 41.539 TONNES + 4.634 TONNES EX. FOR RISK ISSUED (FOR DELIVERY HERE) = 46.173 TONNES.

thus the INITIAL standings for gold for the DEC. contract month: No of notices filed so far (12,430) x 100 oz + (1035) {OI for the front month} minus the number of notices served upon today (110) x 100 oz) which equals 1,335,500 oz standing OR 41.539 TONNES + 4.634 tonnes of ex. for risk = 46.173 TONNES

TOTAL COMEX GOLD STANDING FOR DEC: 46.173 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: 20,042.633.203 OZ

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

TOTAL OF ALL ELIGIBLE GOLD: 9,752,661,325 OZ

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

END

SILVER/COMEX

DEC 7

//2023// THE DEC 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	320,439.76 oz Delaware CNT .
Deposits to the Dealer* Inventory*	556,403.701 oz ASAHI
Deposits to the Customer Inventory	niloz
No of oz served today (contracts)	112 CONTRACT(S) (560,000 OZ)
No of oz to be served (notices)	1287 contracts (6,745,000 oz)
Total monthly oz silver served (contracts)	2510 Contracts (12,554,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 1 dealer deposit

i) Into ASAHI: 556,403.701 oz

total dealer deposit: 555,403.701 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/266,939 million or 50.16%

Comex withdrawals 2

we had 2 customer withdrawals

i) Out of Delaware: 3864.75 oz

ii) Out of CNT 316,575.440 oz

total withdrawals 316,575.440 oz

adjustments: 0

TOTAL REGISTERED SILVER: 44.913 MILLION OZ//.TOTAL REG + ELIGIBLE. 266.939 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF DEC /2023 OI: 1282 CONTRACTS HAVING LOST 129 CONTRACT(S).

WE HAD 124 CONTRACTS SERVED ON WEDNESDAY, SO WE LOST 5 CONTRACTS OR 25,000 OZ WERE

E.F.P. JUMPED TO LONDON AS THESE GUYS NEED IMMEDIATE DELIVERY AS THESE WERE EXERCISED ON A t + 2 BASIS

JAN LOST 77 CONTRACTS UP TO 1800 CONTRACTS

FEB GAINED 14 CONTRACTS TO STAND AT 68

MARCH LOST 1023 CONTRACTS TO 119,379 .

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

Comex volumes// est. volume today 57,493,// fair

Comex volume: confirmed yesterday 62,717 fair

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 2510 x 5,000 oz = 12,550,000 oz

to which we add the difference between the open interest for the front month of DEC. (1282) and the number of notices served upon today 112 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the DEC/2023 contract month: 2510 (notices served so far) x 5000 oz + OI for the front month of DEC. (1282) – number of notices served upon today (112 )x 500 oz of silver standing for the DEC contract month equates to 18.400 MILLION OZ. to which we had prior exchange for risk of 3.5 million oz. New total standing: 21.900 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 7/WITH GOLD DOWN $.20 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:. // / / // // INVENTORY RESTS AT 880.83 TONNES

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 7/WITH SILVER DOWN 15 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: // //://// //INVENTORY RESTS AT 433.090 MILLION OZ

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

“This Is Gold’s Day” – Peter Schiff Warns “The Dollar’s Going To Lose A Lot More Value”

THURSDAY, DEC 07, 2023 – 01:05 PM

Via SchiffGold.com,

Peter Schiff recently appeared on the Claman Countdown with Creative Planning president Peter Mallouk to talk about the recent record high in gold and the trajectory of the markets over the next few months.

Mallouk is bullish on the stock market, but Schiff makes the case that this is gold’s day.

The S&P 500 has gained about 19% on the year, but Mallouk pointed out that if you stretch the timeline to two years, the index is basically flat. For that reason, he said he is bullish. He said we’ve seen rates go way up and people are starting to see “somewhat of a reasonably soft landing.” Barring something unexpected, he said the future looks “very bright.”

Meanwhile, gold surged to a new record high of $2,135 early Sunday morning before pulling back sharply Monday. Claman pointed out that gold typically moves down as Treasury yields increase. So, what is the longer-term outlook for the yellow metal?

Peter said he thinks, “This is gold’s day.”

I know we are $100 lower already because we got some profit-taking on the big spike up. But I think $2,000 is now the support for gold. I mean, it could trade slightly below it, but this is not the end of the bull market. It’s the beginning.”

Peter said there is no ceiling on the price of gold because there is no floor to the value of the dollar.

The dollar is going to lose a lot more value, and you’re going to need a lot more dollars to buy an ounce of gold.”

What will the Federal Reserve do at its December meeting? Claman pointed out that the mainstream consensus is the central bank has paused and the next stop is a rate cut.

Peter said he thinks the Fed will have a hard time cutting rates but that doesn’t mean it won’t make the attempt.

They’re probably going to try at some point. I know they’re going to go back to QE, which is just creating inflation.”

Mallouk said he agrees with Peter on the backdrop – the US government is debasing the currency and the value of the dollar is diminishing. But he said over the long term, gold just keeps up with inflation. He prefers stocks, especially in an environment where the Fed has gotten a handle on price inflation and there is the potential for a soft landing.

Peter conceded that it is better to own “productive assets,” especially if you can buy them cheap.

The problem is right now, US stocks are extremely expensive, and historically, it’s very dangerous to overpay for stocks. On the flip side, gold is actually very cheap historically. And if you look back at prior periods where inflation was a problem, like the 1970s, the price of gold, in one decade where the Dow went down, the price of gold went from $35 an ounce to $850. So, think about that percentage gain.”

Peter pointed out that by 1980, gold and the Dow were trading at roughly the same price.

So, right now, you have the Dow Jones around 35,000 and gold around 2,000. Imagine a world where both of those are the same price because that’s the world where we’re headed, and investors have to prepare for it.”

https://www.zerohedge.com/markets/golds-day-peter-schiff-warns-dollars-going-lose-lot-more-value

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

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

Alasdair Macleod: Gold and ‘flying money’

Submitted by admin on Thu, 2023-12-07 11:48Section: Daily Dispatches

By Alasdair Macleod
Head of Research, GoldMoney, Toronto
Thursday, December 7, 2023

“Flying money” was the Chinese term for paper credits between merchants in the Tang dynasty, adopted by Emperor Hien-Tsung as the first example of a government paper currency. Today economists confuse “flying money” with real money, which is physical gold.

Having broken above the $2,000 barrier, nearly everyone thinks that it is gold rising, when in fact it is the dollar falling. Yet we can be sure that as gold appears to be in a bull market, there will be growing interest in it from the financial establishment and private investors alike.

Mainstream media and the economics profession are equally clueless about the distinction between money and credit, so there is important work to be done informing investors seeking wealth preservation in these increasingly uncertain times.

Accordingly, this article reaffirms the true distinction between money and credit, emphasising that fiat currency is credit, not money. The majority of economists deny this fact, being brainwashed by the US Treasury’s anti-gold propaganda programme following the Bretton Woods failure.

The consequences of this error are that a collapsing dollar taking other currencies with it will impoverish all those who fail to grasp a proper understanding of the relationship between currencies, their dependent credit, and true money. Regard this as a vital primer for financial survival. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/gold-and-flying-money?gmrefcode=gata

end

Craig Hemke at Sprott Money: Just another bullion bank intervention

Submitted by admin on Thu, 2023-12-07 12:16Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Wednesday, December 6, 2023

In 13 years of monitoring the precious metals, I have seen countless interventions and manipulations in the gold market. Some are obvious and overt, but most are subtle and missed or overlooked by traders and investors.

What you just saw on Sunday, December 3, was definitely not an intervention of the subtle variety. …

… For the remainder of the analysis:

https://www.sprottmoney.com/blog/bullion-bank-intervention

END

4, OTHER IMPORTANT GOLD/SILVER COMMENTARIES/

Extremely important

Poland continues to buy gold (approximately 300 tonnes these past few years). They will purchase another 130 tonnes according to their plan to match as a percentage of their GDP

(Jan Nieuwenhuijs)

Polish Central Bank Buys Gold According To Secret EU Plan

THURSDAY, DEC 07, 2023 – 04:15 AM

By Jan Nieuwenhuijs of Gainesville Coins

The Polish central bank has bought roughly 300 tonnes of gold in recent years to bring its gold to GDP ratio in line with the average in the eurozone. For medium and large economies in the eurozone, to which Poland might be included in the future, an equal monetary gold to GDP ratio is a covert requirement for nations to be prepared for a shift to a new gold standard. Based on these requirements I expect Poland to buy an additional 130 tonnes of gold.

Introduction

For those that don’t know, the idea in the European Union (EU) is that eventually all countries adopt the euro and become part of the eurozone. At the time of writing the EU counts 27 countries, of which 20 form the eurozone. When the remaining 7 countries will introduce the euro is unknown.

Within the EU most notably Poland—but also Hungary—has been a large buyer of gold in the past years. Poland and Hungary are not yet included in the eurozone. After my publications “Europe Has Been Preparing a Global Gold Standard Since the 1970s. Part 2” and “Dutch Central Bank Admits It Has Prepared for a New Gold Standard” it’s irrefutable that there are secret agreements between nations in the eurozone to align gold reserves relative to GDP to be prepared for a new gold standard (or gold price targeting system). For Poland to be included in the euro area it has to match its gold to GDP ratio with the eurozone average.

On one hand, the agreements I’m referring to are secretive because some central banks in the eurozone refuse to be transparent regarding gold reserve alignment on grounds of “professional secrecy” laws (Belgium). On the other hand, some of these central banks have spontaneously stated they determine the size of their bullion holdings based on the gold to GDP ratios of large economies in close proximity (the Netherlands).

Of concern to our present study is Poland, eligible for eurozone inclusion, that is buying large volumes of gold which reaffirms the existence of the agreements. Not only are European central banks slowly revealing their gold strategy informally, all actions taken substantiate this policy.

Data Shows EU Central Bank Balance Gold to GDP Ratios

Last month a representative of the Dutch central bank (DNB) confessed in an interview that DNB holds gold worth about 4 percent of its GDP, which it has brought in line to the positions of France, Italy, and Germany. Bear in mind, the eurozone does not control the price of gold and thus their gold to GDP ratios, but there is a desire to harmonize these ratios throughout the eurozone, as illustrated in the chart below.

Supervision of total international reserves (gold and foreign exchange) versus GDP throughout the eurozone is even tighter. While European central banks have communicated that there are no legal obligations to coordinate reserves, they have likely agreed to recurrently use foreign exchange to equalize total reserves, and be able to exactly balance gold reserves among each other the very day they shift to a new gold standard. Periodically adjusting gold reserves is politically too sensitive.

Prior to 2017, Poland held 103 tonnes of monetary gold, which was just 1% of its GDP. To come on par with its European associates Poland needed to raise its metal reserves significantly and so it did: in 2018 the Polish central bank (NBP) started buying gold aggressively. By now it holds 334 tonnes, which is nearly 3% of Poland’s GDP.

As can be seen in the charts, Poland would need 450 tonnes to reach 4% of GDP, like its partners in the euro area. Additionally, NBP needs to transfer gold to the European Central Bank the moment it joins using the euro. According to my calculations that would be about 16 tonnes at the prevailing gold price. In total I expect NBP to buy another 130 tonnes.

Why Central Banks Harmonize Gold Reserves

In the late nineteenth century, as more countries joined the classical gold standard, demand for gold went up. On a gold standard, upward pressure on a country’s currency—as a result from increased demand for gold—created downward pressure on prices of goods and services denominated in that currency. Adoption of the gold standard involved deflationary forces.

The more skewed the current global distribution of official gold reserves, the less smooth a transition towards an international monetary system based on gold. Consequently, for every central bank that holds gold as its “Plan B” (a gold standard) there is an incentive to convince other central banks to do the same and balance the size of their bullion hoards among each other proportionally. So, when there is a severe financial crisis, which will fan out like wildfire in today’s intertwined markets, countries can stabilize their economies by shifting to a stable global gold standard. In my view, the majority of central banks are aware of this dynamic.

Conclusion

Next to Poland, Hungary has increased its gold reserves substantially from 3 tonnes in 2017 (0.1% of GDP) to 94 tonnes in 2021 (3% of GDP). Tellingly, the Hungarian central bank commented that gold “may play a stabilising role and act as a major line of defense under extreme market conditions or in times of structural changes in the international financial system.” The Czech Republic is also buying of late, though its gold to GDP ratio is still far below the regional average. I wouldn’t be surprised if the Czechs buy an additional 150 tonnes in the years ahead.

These developments are not likely to be limited to Europe. As I have demonstrated in previous analyses (here, here) China too is mindful of matching its official gold reserves to the size of its economy. According to my research, the Chinese central bank currently owns 5,220 tonnes of gold, which is worth almost 2% of its GDP. Perhaps this explains why the People’s Bank of China is buying gold hand over fist (approximately 700 tonnes annually) since the West froze Russia’s dollar assets. It needs to double its gold reserves and can’t afford to wait.

A test case is Singapore; another large buyer of gold since 2021 and seemingly trying to catch up as well. In 2018 Singapore’s monetary gold to GDP ratio was 1%, now it’s at 3%. It will be interesting to see if Singapore stops buying gold when it has reached 4% (or whatever the average ratio in the eurozone at any point in the future). I will keep you posted.

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 THURSDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED UP AT 7.1533

OFFSHORE YUAN: UP TO 7.1623

SHANGHAI CLOSED DOWN 2.73 PTS OR 0.09%

HANG SENG CLOSED DOWN 117.37 PTS OR 0.71%

2. Nikkei closed DOWN 589.58 PTS OR 1.76%

3. Europe stocks SO FAR: ALL RED

USA dollar INDEX UP TO 102.97 EURO RISES TO 1.0767 UP 4 BASIS PTS

3b Japan 10 YR bond yield:RISES TO. +.746 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 145.03/JAPANESE YEN FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK

3c Nikkei now ABOVE 17,000

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

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

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.1965***/Italian 10 Yr bond yield DOWN to 3.938** /SPAIN 10 YR BOND YIELD DOWN TO 3.197…**

3i Greek 10 year bond yield DOWN TO 3.325

3j Gold at $2032.85 silver at: 23.93 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble UP 0 AND 22 /100 roubles/dollar; ROUBLE AT 92.59//

3m oil into the 69 dollar handle for WTI and 74 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 145,03// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.746% 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 0.8766 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9437 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: 4.161 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.264 UP 4 BASIS PTS/

USA 2 YR BOND YIELD: 4.626 UP 2 BASIS PTS

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

GREAT BRITAIN/10 YEAR YIELD: UP 3 BASIS PTS AT 4.026

end

2.a Overnight: Newsquawk and Zero hedge

Futures Rise, Yen Soars, JGBs Tumble As BOJ Rattles Markets

THURSDAY, DEC 07, 2023 – 08:16 AM

US equity futures are mixed with tech outperforming notably, as both GOOG and AMD rose +2.8% and 3.7% pre-mkt, respectively. As of 8:00am ET, S&P futures were up 0.1% to 4,560 and Nasdaq futures gained 0.2%. 10Y Treasury yields rose 5 basis points as Japanese bonds tumbled and the yen surged 1.6% against the dollar amid renewed speculation that the Bank of Japan will scrap the world’s last negative interest-rate regime as soon as the Dec 19 BOJ meeting (spoiler alert: it won’t). Of course, if the BOJ does indeed hike yields, US yields will move sharply higher. Elsewhere, the USD is weaker and commodities are higher led by a rebound in the energy complex; WTI is back above $70. Today’s macro data is on Job Cuts, Initial/Continuing Claims, and Consumer Credit. Tomorrow’s NFP data is the more market moving data.

In premarket trading, US mega-tech stocks rose helped by gains in Alphabet and AMD, while the broader market struggled for direction. Here are the most notable premarket movers:

Alphabet shares rise 2.6% a day after Google released Gemini, the “largest and most capable AI model” the company has ever built, as analysts were largely positive about its long-awaited AI model. JPMorgan notes that investors might have snoozed on the release, but he is positive about Google’s progress in this area.
AMD shares rise 3.2% after the chipmaker unveiled new so-called accelerator chips aimed at taking on the lucrative artificial intelligence market dominated by its peer Nvidia. The company noted that it will be able to run AI software faster than rival products.
Braze (BRZE) climbs 8.6% after the software company boosted its revenue guidance for the full fiscal year, beating the average analyst estimate.
Bumble (BMBL) shares gain 0.9% after the dating-app company was initiated with an overweight recommendation at Wells Fargo, which expressed optimism on the sustainability of growth in its namesake app.
Cerevel Therapeutics shares rise 13% after AbbVie agreed to acquire the biotech company in a deal valued at about $8.7 billion. This is the second acquisition for AbbVie in about a week as it comes on the heals of the $10.1 billion deal to purchase cancer-drug maker ImmunoGen.
C3.ai falls 9.8% as the data management and analysis software company reported revenue for the second quarter that missed the average analyst estimate. It also issued a forecast for an operating loss in the fiscal year that was worse than projected.
Chewy shares drop 9.9% after the online pet supplies retailer cut its full-year net sales guidance, which missed consensus estimates. Analysts viewed the results as disappointing, with Citi describing them as “lackluster.” Additionally, analysts noted that the focus now turns to the analyst day, which takes place next week.
GameStop shares drop 7% after the video-game retailer reported third-quarter net sales that missed estimates. The company also announced a new policy that would allow chief executive officer Ryan Cohen to invest the company’s excess cash in equity securities, which Wedbush said was “the most inane decision we have ever seen.”
Datadog shares rise 1.8% after Stifel upgrades the software platform provider to buy from hold, citing a survey indicating fewer customers looking to cut spending.
GameStop shares drop 7.7% after the video-game retailer reported third-quarter net sales that missed estimates. Analysts called the print “mixed,” noting that revenue came in lower than expected.
Rivian shares gain 3.0% after Stifel initiates coverage of the electric-vehicle maker with a buy rating, while peer Lucid’s shares ease as it is started at hold. The broker expects industry hurdles to diminish over the next few years and make way for sales growth.
MicroAlgo gained 48%, adding to Wednesday’s 296% rally that was driven by an announcement that its Chinese companies plan to sign a cooperation agreement over postgraduate training with two other bodies.
Rivian gains as much as 1.5% after Stifel initiates coverage of the electric-vehicle maker with a buy rating, while peer Lucid’s shares ease as it is started at hold. The broker expects industry hurdles to diminish over the next few years and make way for sales growth.
Semtech shares are up 9.5% after the semiconductor device company reported third-quarter results that beat expectations and gave a forecast. Analysts said the report suggests a bottom ahead.
Sprinklr shares slump 25%, set for their worst day on record, as analysts highlighted disappointing preliminary guidance for 2025 from the application software firm, seeing it as a sign that tough economic conditions are starting to bite.
Take-Two falls 1.8% as BofA Global Research cut the recommendation on the video game publisher to neutral from buy, assuming a later launch of the company’s highly-anticipated Grand Theft Auto VI video game

The highlight of the overnight session was the surge in the yen and the plunge in JGBs which followed a jump in bets on a BOJ rate hike after hawkish hints by Governor Kazuo Ueda and his deputy spooked markets. Swaps at one point signaled a 45% chance of a policy shift this month. The move was another jolt to the global government rally, raising further doubts that central banks are ready to pivot toward rate cuts.

Traders also pointed to the fact that markets have run up in recent weeks and are due for a pause. There was a sense of caution ahead US labor market data, including jobless claims today and non-farm payrolls on Friday.

“Both valuation and positioning would argue for exhaustion in the recent bond rally,” said Mohit Kumar, chief European economist at Jefferies International. “Given our view of only a mild recession and inflation still remaining sticky, we would argue that the market has run a bit ahead of itself.”

European stocks ticked lower on Thursday, pausing after rallying to a four-month high as concerns over economic weakness outweighed recent hopes that interest rate cuts could be on the table for next year. The Stoxx Europe 600 was down 0.2% led lower by losses across rate-sensitive sectors including real estate and technology as bond yields rose, and a drop in travel and leisure stocks as JPMorgan turned more cautious on airlines. Among individual movers, shares in Swiss IT services firm SoftwareOne Holding AG edged higher following a Reuters report that Bain Capital is the last remaining bidder for the company after others dropped out, while Renault SA was little-changed after the French carmaker unveiled plans to cut electric vehicle production costs in half by 2027. European equities have rallied over 8% since reaching an October low, driven by gains across real estate stocks and technology as traders upped their bets on monetary easing from the ECB next year. Here are the biggest movers Thursday:

Games Workshop shares drop as much as 15%, the biggest intraday decline since September 2022, after the table-top games maker issued a trading update for the first-half of the year
Air France drops as much as 6.9%, Lufthansa -4.9% and IAG -3.7%, dragging down the Stoxx 600 transport & leisure index after JPMorgan turns more cautious on airlines, downgrading several
Future plc shares drop as much as 31% after earnings missed estimates. The margin outlook for 2024 suggests a material cut to expectations, according to analysts
Vodafone shares fall as much as 2.2% after Exane cuts the stock to underperform, saying the sale of its operations in Spain and potential deals in the UK and Italy are likely to dilute FCF
Branicks drops as much as 11% after Bankhaus Metzler downgraded its rating on the commercial property investor to sell, citing the need for further disposals to pay its debt
Hanza falls as much as 11% to SEK85.8, hovering just above the level of an offering of 3.53m new shares. The offering was priced at SEK85 apiece, a discount of about 10% to the last close
Vertu Motors plunges as much as 24%, a record drop, after the UK automotive dealership issued a profit warning citing “negative external market factors”
Smart Metering Systems gains as much as 43% to 969p, exceeding the 955p/share recommended cash offer from KKR, which values the utility company’s shares at about £1.3b
Coats Group rises as much as 11% after the industrial thread manufacturer said it will no longer make payments to plug its pension deficit from the start of 2024
Kin & Carta gains as much as 11% at 114.80p to trade just below Apax Partners improved offer price of 120p per share in cash.

“We do think that [European] equities have gone too far, we are quite cautious on the economic outlook,” Joost van Leenders, senior investment strategist at Van Lanschot Kempen, said by phone. “Since central banks started hiking interest rates, that we’ve seen an environment where higher yields are bad for equities and lower yields are good for equities, and that’s also driving the market at the moment.”

Earlier in the session, Asian stocks declined following the weak lead from Wall St where risk sentiment soured after more soft labour data, while markets digested mixed Chinese trade data which showed the first expansion in exports since April although imports surprisingly contracted.

Hang Seng and Shanghai Comp were varied with the mainland choppy amid mixed Chinese trade data in which exports expanded but the surprise contraction in imports suggested weaker domestic demand, while the Hong Kong benchmark suffered after Moody’s revised its credit outlook for the special administrative region to negative.
Japan’s Nikkei 225 was the worst hit and slipped back beneath the 33,000 level amid headwinds from a firmer currency and higher yields.
Australia’s ASX 200 was subdued amid notable underperformance in energy following the recent drop in oil prices to multi-month lows and with mixed trade data from both Australia and its largest trading partner.

In FX, the Bloomberg dollar spot index fell 0.2% reversing three sessions of gains to fall against all Group-of-10 peers; the yen soared, building on Asian-hours strength and Japanese bond futures fell sharply after the BOJ Governor Ueda discussed possible exit options in semiannual testimony. CAD and EUR are the weakest performers in G-10 FX, JPY and NOK outperform. The Swiss franc rose to the strongest level against the euro since the Swiss National Bank abandoned its currency cap almost nine years ago. The move reflects a shift in interest-rate expectations as confidence grows that the European Central Bank will move to cut rates sooner than its Swiss counterpart.

USD/JPY dropped as much as 1.8% to a three-month low of 144.64 in the currency pair’s biggest move since January
EUR/USD turned six sessions of losses to rise as much as 0.2% to 1.0785; One-week volatility increases to 9.53%, highest since May 4 as the tenor now captures the Fed and ECB policy decisions
EUR/CHF dropped as much as 0.1% to 0.94087, the Swiss franc’s highest level against the euro since the SNB axed its cap in 2015

In commodities, crude futures advanced reversed several days of losses. Spot gold rose roughly $8 to trade near $2,033/oz. Bitcoin slipped below $44,000.

Looking To the day ahead now, and data releases include the US weekly initial jobless claims, German and Italian industrial production for October, along with Italian retail sales for October. Meanwhile from central banks, we’ll hear from the ECB’s Holzmann and Elderson.

Market Snapshot

S&P 500 futures little changed at 4,554.25
MXAP down 0.2% to 161.07
MXAPJ down 0.4% to 498.16
Nikkei down 1.8% to 32,858.31
Topix down 1.1% to 2,359.91
Hang Seng Index down 0.7% to 16,345.89
Shanghai Composite little changed at 2,966.21
Sensex down 0.2% to 69,524.31
Australia S&P/ASX 200 little changed at 7,173.34
Kospi down 0.1% to 2,492.07
STOXX Europe 600 down 0.3% to 468.74
German 10Y yield little changed at 2.21%
Euro up 0.1% to $1.0778
Brent Futures up 0.9% to $75.00/bbl
Gold spot up 0.3% to $2,032.05
U.S. Dollar Index down 0.27% to 103.88

Top Overnight Stores

Moody’s Investors Service advised staff in China to work from home ahead of its cut to the outlook for the country’s sovereign credit rating, a suggestion staff believed was prompted by concern over Beijing’s possible reaction, according to two employees familiar with the situation. FT
The amount of money that institutional investors have in Chinese stocks and bonds has declined by more than $31 billion this year, through October, the biggest net outflow since China joined the World Trade Organization in 2001, official Chinese data show. WSJ
Bets on a BOJ rate hike surged after hawkish hints by Governor Kazuo Ueda and his deputy spooked markets. Swaps at one point signaled a 45% chance of a policy shift this month, but Bloomberg Economics said it’s too soon. BBG
The European Union is nearing a deal on what is poised to become the most comprehensive regulation of artificial intelligence in the western world but negotiators are still trying to hammer out the final details. BBG
Companies on both sides of the Atlantic are rushing to issue debt, taking advantage of the cheapest borrowing costs available in months following the sharp global bond market rally. Corporate borrowers in the US and Europe issued $246bn worth of investment-grade and junk bonds in November alone — 57 per cent more than October’s total, and $16bn higher than the average figure for the first 10 months of the year, according to data from LSEG. FT
OpenAI has a new board, but its directors may still confront the same old problem. The artificial-intelligence startup’s unusual business structure that gave oversight of its for-profit business to a nonprofit board will be an unresolved issue for the new board to tackle. WSJ
Nikki Haley drew attacks from rivals over her links to Wall Street in last night’s debate as her GOP bid gains steam. President Biden suffered a setback when Senate Republicans blocked $66 billion in emergency Ukraine aid. BBG
Blackstone-backed Candle Media asked lenders to restructure some of its debt after recent acquisitions like Reese Witherspoon’s company failed to hit profit targets. The startup led by two Disney veterans has more than $1 billion in debt. BBG
SpaceX started talks about selling shares at a raised valuation of over $175 billion, people familiar said, a boost from the summer’s $150 billion. The tender offer may range from $500 million to $750 million and value the shares at about $95 apiece. BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks declined following the weak lead from Wall St where risk sentiment soured after more soft labour data, while markets digested mixed Chinese trade data which showed the first expansion in exports since April although imports surprisingly contracted. ASX 200 was subdued amid notable underperformance in energy following the recent drop in oil prices to multi-month lows and with mixed trade data from both Australia and its largest trading partner. Nikkei 225 was the worst hit and slipped back beneath the 33,000 level amid headwinds from a firmer currency and higher yields. Hang Seng and Shanghai Comp were varied with the mainland choppy amid mixed Chinese trade data in which exports expanded but the surprise contraction in imports suggested weaker domestic demand, while the Hong Kong benchmark suffered after Moody’s revised its credit outlook for the special administrative region to negative.

Top Asian News

Chinese President Xi met with European Council President Michel and European Commission President von der Leyen and said that both sides should maintain development momentum between China and the EU. Xi added that China and the EU have the responsibility to work together to provide more stability for the world and should be partners in mutually beneficial cooperation, as well as continuously enhance political mutual trust.
BoJ Governor Ueda suggested that “handling of monetary policy would get tougher from the end of the year”; Japan’s economy is to continue recovering moderately, supported mainly by accommodative financial conditions and effects of economic stimulus measures but noted that uncertainty over Japan’s economy is extremely high. Ueda reiterated they will patiently continue monetary easing under YCC to support economic activity and the cycle of wage growth, while they have not yet reached a situation in which they can achieve the price target sustainably and stably with sufficient certainty. Furthermore, Ueda said they have not made a decision on which interest rate to target and don’t have any specific idea in mind on how much they will raise rates once they end NIRP.
ASEAN Plus Three deputy financial chiefs agreed on a system framework for a new regional emergency lending facility, according to a joint statement cited by Reuters.
BoJ Governor Ueda said no specific discussion on FX with Japanese PM Kishida and there were no special demands from PM Kishida
China’s State Council has published a document to support further development of Shanghai Free Trade Zone
Chinese Foreign Minister Wang Yi says expressed concerns about EV subsidy probe

European equities Eurostoxx50 (-0.3%) are on a weaker footing following a negative handover from the APAC session. European sectors have a heavy negative bias, though Utilities hold onto marginal gains; whilst Travel & Leisure is weighed on by Air France (-5.9%) and Lufthansa (-4.5%) amid broker downgrades. Additionally, Retail names are impacted to varying degrees amid research reports of shows that the named brands are at risk of sourcing products which have been made by Uyghurs forced to work in state-imposed labor transfer programs. US equity futures are mixed with specifics relatively light thus far; NQ (+0.2%) is holding onto gains ahead of US IJCs and Wholesale Sales.

Top European News

ECB’s Villeroy reiterated that the issue of possible rate cuts could be raised in 2024 but not right now, while he also repeated that disinflation is happening quicker than expected.
Reuters poll showed all 90 economists unanimously expect the ECB to keep the Deposit Rate at 4.00% at next week’s meeting, while 51 out of 90 expect a rate cut by end-Q2 2024 and the rest forecast a cut in Q3 2024 or later.
Reuters Poll, BoE: to hold the Bank Rate at 5.25% through Q2-2024 (same as the November poll); UK economy to expand 0.4% in 2024 and 1.2% in 2025 (same as November)
Norges Bank Regional Network Report: enterprises expect annual wage growth of 5.45 (prev. 5.4%) in 2023 and 4.5% (prev. 4.6%) in 2024.
French Finance Minister Le Maire says we are 90% in agreement with Germany on reform of the EU’s stability and growth pact, but our red line is that incentive to invest and reform must be kept.
EU Commission approves France’s EUR 4.12bln scheme to develop additional offshore wind energy
EU AI Act could exclude open-source models from regulation, via Reuters citing a proposal

The broader Dollar and index are pressured in early European trade by a rampant Yen, with participants attributing the notable upside in the Japanese currency to a surge in JGB yields coupled with commentary from BoJ Governor Ueda.
USD/JPY has now extended losses of around 1.8% bringing the price below the 145.00 level; down to a 144.55 trough.
Both the EUR and GBP trade with modest gains against the Dollar and flat against each other, with the currencies failing to fully benefit from the Dollar’s pullback amid losses in EUR/JPY and GBP/JPY.
AUD, NZD, CAD trade mixed with the NZD and CAD flat against the Dollar while the AUD narrowly outperforms as base metals attempt a recovery.
PBoC set USD/CNY mid-point at 7.1176 vs exp. 7.1623 (prev. 7.1140).

Fixed Income

Déjà vu for Bunds with another data-driven uptick occurring at the start of the session lifting the contract above the 135.00 mark to a 135.77 high.
Gilts and USTs are once again softer as recent pronounced dovish pricing eases incrementally ahead of US NFP (Fri), CPI (Tue) and then the FOMC/BoE next week.
France sells EUR 4.99bln vs exp. EUR 4-5bln 2.75% 2027, 0.00% 2032, 1.25% 2034 OATs and 0.10% 2029 I/L OAT
Spain sells EUR 2.93bln vs exp. EUR 2.5-3.5bln 0.60% 2029, 3.90% 2039 Bono and EUR 0.505bln vs. exp. 0.25-0.75bln 0.70% 2033 I/L
BoE allots GBP 4bln of one-week funds in the short-term repo operation, a new record

Commodities

WTI and Brent (+1.1%) are firmer intraday amid the pullback in the Dollar coupled with some corrective price action after yesterday’s slump.
Spot gold tilts higher amid the softer Dollar but remains around recent ranges near USD 2,030/oz awaiting today’s US data ahead of Friday’s NFP; base metals also benefit from Dollar weakness.
Russia’s Kremlin spokesman said President Putin and Saudi Arabia’s Crown Prince discussed OPEC+ cooperation which will continue, according to TASS.
Kuwait supports the OPEC+ agreement and is committed to voluntary cuts, according to the state news agency.
Algeria does not rule out extending voluntary oil cuts beyond Q1 or taking additional measures, according to the energy minister.
Venezuela’s PDVSA authorised loading for the first two crude cargoes bound for India following sanctions relief, which were sold by Eni (ENI IM) and Chevron (CVX) to Indian refiners.
First Quantum (FM CA) Panama workers agreed to a severance package with the copper mine remaining halted with 10-20% of staff working, according to the union.
Russian Kremlin: President Putin confirmed with Saudi’s MBS the specific agreements reached at OPEC+

Geopolitics

G7 leaders’ statement noted commitment remains to restrict exports of all items critical to Russia’s military and industrial base and they will work to further curtail Russia’s use of the international financial system to further its war with Ukraine. Furthermore, G7 leaders are committed to tightening compliance and enforcement of the price cap policy on Russian oil, including by imposing sanctions on those engaged in deceptive practices.
Senior Biden administration officials agreed that striking Houthis is the wrong course of action for now, according to Politico.
White House’s Kirby said they are watching the “worrisome” burgeoning defence relationship between Iran and Russia.
US Secretary of State Blinken spoke with Guyanese President Ali and reaffirmed US unwavering support for Guyana’s sovereignty, while it was separately reported that a Guyanese army helicopter reportedly went missing near the border with Venezuela, according to AFP News Agency.

US Event Calendar

07:30: Nov. Challenger Job Cuts -40.8% YoY, prior 8.8%
08:30: Nov. Continuing Claims, est. 1.91m, prior 1.93m
08:30: Dec. Initial Jobless Claims, est. 220,000, prior 218,000
10:00: Oct. Wholesale Trade Sales MoM, est. 1.0%, prior 2.2%
10:00: Oct. Wholesale Inventories MoM, est. -0.2%, prior -0.2%
12:00: 3Q US Household Change in Net Wor, prior $5.49t
15:00: Oct. Consumer Credit, est. $8.5b, prior $9.06b

DB’s Jim Reid concludes the overnight wrap

Our year-end EMR survey aimed at market participants is currently ongoing. We’ve got lots of questions about 2024, and are interested in how you expect the year ahead to play out. Questions include where you see the biggest risks, whether there’ll be a US recession, and the chance of Donald Trump being elected President. At the end we also ask about your favourite Christmas song. The survey will close on Friday and the link to answer is here. All responses are anonymous, and it’s possible to skip questions without answering and move on. All help gratefully received.

When it comes to the last 24 hours, markets have seen a sharp reversal in tone, with bond yields seeing a significant increase overnight and equities losing ground, despite a major bond rally taking place yesterday. The main catalyst for this have been comments from Bank of Japan officials, which have suddenly seen investors ramp up the chances that the BoJ could bring an end to their negative interest rate policy. For instance, yesterday saw Deputy Governor Himono discuss the impact of negative rates, pointing out that households could benefit from higher net interest income if rates were positive. Indeed, he also added that “there would be a sufficient possibility of achieving a positive outcome from the exit, since a wide range of households and firms would benefit from the virtuous cycle between wages and prices”. So some fairly positive remarks about what could happen in such a scenario.

This morning, we’ve since heard from BoJ Governor Ueda, who added to that speculation by saying that policy management would “become even more challenging from the year-end and heading into next year”. In turn, investors are now pricing in a 37% chance that the BoJ are going to end their negative interest rate policy at the meeting on December 19, and at one point overnight that even got as high as 45%. J apanese government bonds have also seen a sharp selloff, with yields on 10yr JGBs up +11.5bps overnight, and that move got further support after a 30yr auction saw weak demand. Moreover, the impact hasn’t just been confined to Japan, with yields on 10yr Treasuries up +6.8bps overnight to 4.17%.

This backdrop has meant equities have lost ground in Asia, with Japanese equities seeing the biggest underperformance and the Nikkei down by -1.88%. We’ll have to see what happens at the next meeting, but in some respects this echoes what happened in markets last December 2022, when there was a late selloff at year-end after the major central banks remained hawkish, and the BoJ announced a surprise shift in its yield curve control policy, which was seen as paving the way for a potential end to their ultra-loose monetary policy. Remember as well that a BoJ normalisation will have a broader impact, because it would remove one of the last global anchors that’s helped to keep borrowing costs at lower levels more broadly .

Before those overnight developments, yields had actually fallen to their lowest levels in months, with investors growing increasingly optimistic about a soft landing and the chance of rate cuts. Clearly overnight’s developments could change things, and we’ve got a very important round of central bank meetings next week, but several developments yesterday helped support the bond rally. For instance, the ADP’s report of private payrolls came in beneath consensus, which helped cement expectations that the Fed would be cutting rates in the months ahead. Moreover, oil prices saw their weakest day in three weeks, falling to a new 5-month low, which added to the sense that inflationary pressures were easing. And in turn, many risk assets also put in a decent performance, with Europe’s STOXX 600 (+0.52%) at a 4-month high, whilst US HY spreads reached their joint-tightest level in over 18 months. There was a bit of a late selloff in the US session however, and the S&P 500 (-0.39%) lost ground for a third consecutive day.

In terms of that bond rally yesterday, there were significant milestones in Europe, with yields on 10yr bunds (-4.8bps) closing at a 7-month low of 2.20%, and those on 10yr OATs (-6.5bps) closing at an 8-month low of 2.74%. Meanwhile in the US, 10yr Treasury yields were down -6.1bps to 4.105%, marking their lowest closing level in nearly four months. The decline was led by breakevens, with the 10yr breakeven down -3.8bps to 2.16%, its lowest since March.

Overnight however, we’ve seen that momentum reverse, and investors are pricing in a slightly more hawkish path for the Fed. For instance, t he chance of a rate hike by the March meeting has fallen from 76% on Tuesday, to 69% by yesterday’s close, and 65% now. Nevertheless, the US data did point in the direction of rate cuts yesterday, with the ADP’s report showing that growth in private payrolls fell to +103k in November (vs. +130k expected), which is in line with the slower pace of the last couple of months. So that added to the indicators pointing to a softer labour market. It also comes ahead of tomorrow’s US jobs report, where our US economists are anticipating that nonfarm payrolls will be up by +130k. Second, the revised estimates for Q3 productivity showed that nonfarm productivity was up by an annualised +5.2% in Q3, which is up from the previous estimate of +4.7%. In addition, unit labour costs were revised down to show an annualised -1.2% decline, which is larger than the -0.8% reading in the previous estimate. So the data was favouring a more sanguine inflation outlook.

That rally got further support from the latest decline in oil prices, which left Brent Crude (-3.76%) at $74.30/bbl, and WTI (-4.07%) at $69.38/bbl. In both cases, that’s their lowest level in 5 months, and there’s been growing evidence that this decline is feeding through into the real economy. For example, data from the AAA shows that US gasoline prices were down to $3.216 per gallon on Tuesday, the lowest since January 1. Other commodities also struggled yesterday, with copper (-1.48%) down for a third consecutive day, and Bloomberg’s Commodity Spot Index (-2.03%) closed at a 5-month low.

For equities, yesterday brought another fairly divergent performance across regions and sectors. There was more weakness in the US, where the S&P 500 (-0.39%) lost ground for a third day running, and futures overnight are down a further -0.09%. Energy stocks were a notable underperformer amidst the latest decline in oil prices, with those in the S&P 500 down -1.64%, whilst the Magnificent 7 (-0.88%) also struggled. However, the e qual-weighted S&P 500 (+0.06%) saw a better performance, with 55% of S&P 500 constituents up on the day. Meanwhile, there were further milestones in Europe, with the DAX (+0.75%) closing at another all-time high thanks to a 7th consecutive advance, and the STOXX 600 (+0.52%) closed at a 4-month high. But overnight in Asia, we’ve seen a broader weakness in equities that hasn’t just been in Japan. For instance, the Hang Seng is down -1.20% to its lowest level since November 2022, whilst the Shanghai Comp (-0.21%), the CSI 300 (-0.26%) and the KOSPI (-0.14%) have all lost ground as well.

Elsewhere, the Bank of Canada announced their latest policy decision yesterday, leaving interest rates unchanged as expected. In their statement, it said they were “still concerned about risks to the outlook for inflation” and “prepared to raise the policy rate further if needed.” But as with other central banks, investors have become increasingly confident about the chance of a rate cut in recent weeks, and a 25bp cut is now fully priced in by the April meeting .

Looking at yesterday’s other data, German factory orders contracted by -3.7% in October (vs. +0.2% expected). In the meantime, the construction PMI for November fell to 36.2, which is the weakest it’s been since April 2020 at the height of the Covid-19 pandemic. Here in the UK, the construction PMI also fell to 45.5 in November.

To the day ahead now, and data releases include the US weekly initial jobless claims, German and Italian industrial production for October, along with Italian retail sales for October. Meanwhile from central banks, we’ll hear from the ECB’s Holzmann and Elderson.

END

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Stocks down though NQ holds gains; DXY weaker & JPY soars post-Ueda; US IJC due – Newsquawk US Market Open

THURSDAY, DEC 07, 2023 – 06:10 AM

European equities are on a weaker footing following a negative handover from the APAC session; whilst US futures are mixed with NQ holding in the green
Dollar subdued with the Yen dominating as it benefits from higher JGB yields post BoJ Ueda
BoJ Governor Ueda suggested that the “handling of monetary policy would get tougher from the end of the year”
Crude attempts to nurse recent losses while precious metals are flat pre-data, base metals benefit from the Dollar pullback
Bunds bounce on more weak Q4 data, BoE/Fed pricing eases slightly from extremes
Looking ahead, highlights include US IJC, US Wholesale Sales, NZ Manufacturing Sales, Japanese Cash Earnings & GDP (Revised), Speech from ECB’s Elderson

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EUROPEAN TRADE

EQUITIES

European equities Eurostoxx50 (-0.3%) are on a weaker footing following a negative handover from the APAC session.
European sectors have a heavy negative bias, though Utilities hold onto marginal gains; whilst Travel & Leisure is weighed on by Air France (-5.9%) and Lufthansa (-4.5%) amid broker downgrades. Additionally, Retail names are impacted to varying degrees amid research reports of shows that the named brands are at risk of sourcing products which have been made by Uyghurs forced to work in state-imposed labor transfer programs.
US equity futures are mixed with specifics relatively light thus far; NQ (+0.2%) is holding onto gains ahead of US IJCs and Wholesale Sales.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
Click here for more details.

FX

The broader Dollar and index are pressured in early European trade by a rampant Yen, with participants attributing the notable upside in the Japanese currency to a surge in JGB yields coupled with commentary from BoJ Governor Ueda.
USD/JPY has now extended losses of around 1.8% bringing the price below the 145.00 level; down to a 144.55 trough.
Both the EUR and GBP trade with modest gains against the Dollar and flat against each other, with the currencies failing to fully benefit from the Dollar’s pullback amid losses in EUR/JPY and GBP/JPY.
AUD, NZD, CAD trade mixed with the NZD and CAD flat against the Dollar while the AUD narrowly outperforms as base metals attempt a recovery.
PBoC set USD/CNY mid-point at 7.1176 vs exp. 7.1623 (prev. 7.1140).
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

Déjà vu for Bunds with another data-driven uptick occurring at the start of the session lifting the contract above the 135.00 mark to a 135.77 high.
Gilts and USTs are once again softer as recent pronounced dovish pricing eases incrementally ahead of US NFP (Fri), CPI (Tue) and then the FOMC/BoE next week.
France sells EUR 4.99bln vs exp. EUR 4-5bln 2.75% 2027, 0.00% 2032, 1.25% 2034 OATs and 0.10% 2029 I/L OAT
Spain sells EUR 2.93bln vs exp. EUR 2.5-3.5bln 0.60% 2029, 3.90% 2039 Bono and EUR 0.505bln vs. exp. 0.25-0.75bln 0.70% 2033 I/L
BoE allots GBP 4bln of one-week funds in the short-term repo operation, a new record
Click here for more details.

COMMODITIES

WTI and Brent (+1.1%) are firmer intraday amid the pullback in the Dollar coupled with some corrective price action after yesterday’s slump.
Spot gold tilts higher amid the softer Dollar but remains around recent ranges near USD 2,030/oz awaiting today’s US data ahead of Friday’s NFP; base metals also benefit from Dollar weakness.
Russia’s Kremlin spokesman said President Putin and Saudi Arabia’s Crown Prince discussed OPEC+ cooperation which will continue, according to TASS.
Kuwait supports the OPEC+ agreement and is committed to voluntary cuts, according to the state news agency.
Algeria does not rule out extending voluntary oil cuts beyond Q1 or taking additional measures, according to the energy minister.
Venezuela’s PDVSA authorised loading for the first two crude cargoes bound for India following sanctions relief, which were sold by Eni (ENI IM) and Chevron (CVX) to Indian refiners.
First Quantum (FM CA) Panama workers agreed to a severance package with the copper mine remaining halted with 10-20% of staff working, according to the union.
Russian Kremlin: President Putin confirmed with Saudi’s MBS the specific agreements reached at OPEC+
Click here for more details.

NOTABLE EUROPEAN HEADLINES

ECB’s Villeroy reiterated that the issue of possible rate cuts could be raised in 2024 but not right now, while he also repeated that disinflation is happening quicker than expected.
Reuters poll showed all 90 economists unanimously expect the ECB to keep the Deposit Rate at 4.00% at next week’s meeting, while 51 out of 90 expect a rate cut by end-Q2 2024 and the rest forecast a cut in Q3 2024 or later.
Reuters Poll, BoE: to hold the Bank Rate at 5.25% through Q2-2024 (same as the November poll); UK economy to expand 0.4% in 2024 and 1.2% in 2025 (same as November)
Norges Bank Regional Network Report: enterprises expect annual wage growth of 5.45 (prev. 5.4%) in 2023 and 4.5% (prev. 4.6%) in 2024.
French Finance Minister Le Maire says we are 90% in agreement with Germany on reform of the EU’s stability and growth pact, but our red line is that incentive to invest and reform must be kept.
EU Commission approves France’s EUR 4.12bln scheme to develop additional offshore wind energy
EU AI Act could exclude open-source models from regulation, via Reuters citing a proposal

DATA RECAP

German Industrial Output MM (Oct) -0.4% vs. Exp. 0.2% (Prev. -1.4%); 3M/3M -1.9%
EU GDP Revised QQ (Q3) -0.1% vs. Exp. -0.1% (Prev. -0.1%); YY (Q3) 0.0% vs. Exp. 0.1% (Prev. 0.1%)
Italian Retail Sales SA MM (Oct) 0.4% (Prev. -0.3%); YY (Oct) 0.3% (Prev. 1.3%)
EU Employment Final QQ (Q3) 0.2% vs. Exp. 0.3% (Prev. 0.3%, Rev. 0.1%); Final YY (Q3) 1.3% vs. Exp. 1.4% (Prev. 1.4%)
French Trade Balance, EUR, SA (Oct) -8.597B (Prev. -8.917B, Rev. -8.867B); French Exports 49.671B (Prev. 49.132B, Rev. 49.077B); French Imports 58.268B (Prev. 58.048B, Rev. 57.944B)
Italian Industrial Output YY WDA (Oct) -1.1% (Prev. -2.0%); MM SA (Oct) -0.2% vs. Exp. -0.3% (Rev. 0.1%)
UK Halifax House Prices MM (Nov) 0.5% (Prev. 1.1%); YY -1.00% (Prev. -3.20%, Rev. -3.1%)

NOTABLE US HEADLINES

GameStop Corp (GME) Q3 2023 (USD): EPS -0.01 (exp. -0.08), Revenue 1.08bln (exp. 1.18bln) Shares seen -7.7% in pre-market trade
Click here for the US Early Morning Note.

GEOPOLITICS

G7 leaders’ statement noted commitment remains to restrict exports of all items critical to Russia’s military and industrial base and they will work to further curtail Russia’s use of the international financial system to further its war with Ukraine. Furthermore, G7 leaders are committed to tightening compliance and enforcement of the price cap policy on Russian oil, including by imposing sanctions on those engaged in deceptive practices.
Senior Biden administration officials agreed that striking Houthis is the wrong course of action for now, according to Politico.
White House’s Kirby said they are watching the “worrisome” burgeoning defence relationship between Iran and Russia.
US Secretary of State Blinken spoke with Guyanese President Ali and reaffirmed US unwavering support for Guyana’s sovereignty, while it was separately reported that a Guyanese army helicopter reportedly went missing near the border with Venezuela, according to AFP News Agency.

CRYPTO

Bitcoin (-1.6%) is trending lower giving back some of this week’s recent advances.

APAC TRADE

APAC stocks declined following the weak lead from Wall St where risk sentiment soured after more soft labour data, while markets digested mixed Chinese trade data which showed the first expansion in exports since April although imports surprisingly contracted.
ASX 200 was subdued amid notable underperformance in energy following the recent drop in oil prices to multi-month lows and with mixed trade data from both Australia and its largest trading partner.
Nikkei 225 was the worst hit and slipped back beneath the 33,000 level amid headwinds from a firmer currency and higher yields.
Hang Seng and Shanghai Comp were varied with the mainland choppy amid mixed Chinese trade data in which exports expanded but the surprise contraction in imports suggested weaker domestic demand, while the Hong Kong benchmark suffered after Moody’s revised its credit outlook for the special administrative region to negative.

NOTABLE HEADLINES

Chinese President Xi met with European Council President Michel and European Commission President von der Leyen and said that both sides should maintain development momentum between China and the EU. Xi added that China and the EU have the responsibility to work together to provide more stability for the world and should be partners in mutually beneficial cooperation, as well as continuously enhance political mutual trust.
BoJ Governor Ueda suggested that “handling of monetary policy would get tougher from the end of the year”; Japan’s economy is to continue recovering moderately, supported mainly by accommodative financial conditions and effects of economic stimulus measures but noted that uncertainty over Japan’s economy is extremely high. Ueda reiterated they will patiently continue monetary easing under YCC to support economic activity and the cycle of wage growth, while they have not yet reached a situation in which they can achieve the price target sustainably and stably with sufficient certainty. Furthermore, Ueda said they have not made a decision on which interest rate to target and don’t have any specific idea in mind on how much they will raise rates once they end NIRP.
ASEAN Plus Three deputy financial chiefs agreed on a system framework for a new regional emergency lending facility, according to a joint statement cited by Reuters.
BoJ Governor Ueda said no specific discussion on FX with Japanese PM Kishida and there were no special demands from PM Kishida
China’s State Council has published a document to support further development of Shanghai Free Trade Zone
Chinese Foreign Minister Wang Yi says expressed concerns about EV subsidy probe

DATA RECAP

Chinese Trade Balance (USD)(Nov) 68.4B vs. Exp. 58.0B (Prev. 56.5B); Chinese Trade Balance (CNY) 490.8B (Prev. 405.5B)
Chinese Exports YY (USD)(Nov) 0.5% vs. Exp. -1.1% (Prev. -6.4%); Chinese Imports YY (USD) -0.6% vs. Exp. 3.3% (Prev. 3.0%)
Chinese Exports YY (CNY)(Nov) 1.7% (Prev. -3.1%); Chinese Imports YY (CNY) -0.6% (Prev. 6.4%)
China FX Reserves (Nov): USD 3.1718tln (exp. 3.1395tln); Gold USD 145.7bln (prev. 142.2bln) or 71.6mln/oz (prev. 71.2mln/oz); Chinese FX Reserves (Monthly) (Nov) 3.172Trl vs. Exp. 3.12Trl (Prev. 3.101Trl)
Australian Trade Balance (AUD)(Oct) 7.1B vs. Exp. 7.5B (Prev. 6.8B); Exports MM0.4% (Prev. -1.0%); Imports MM -1.9% (Prev. 8.0%)

THURSDAY MORNING/WEDNESDAY NIGHT

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

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

end

3 CHINA

CHINA/USA

China angry at the uSA blocking chip sales to them

(zerohedge)

‘Dark Gina’ Elicits Blistering Rebuke From China, Which Vows To Circumvent Tech Curbs

WEDNESDAY, DEC 06, 2023 – 10:40 PM

So much for the ‘stabilizing ties’ narrative… China is blistering angry after weekend remarks by US Commerce Secretary Gina Raimondo, who labeled Beijing “the biggest threat we’ve ever had” while lauding efforts that seek to block it from cutting-edge semiconductors.

China’s response was swift at the start of this week: “The US should stick to the right perception and work with China to deliver on the common understandings reached in the San Francisco meeting,” foreign ministry spokesman Wang Wenbin had said Monday. America must “stop seeing China as a hypothetical enemy and saying one thing but doing another,” the spokesman continued. AP file image

Raimondo called for tighter export controls on advanced tech at the annual Reagan National Defense Forum in California.

“On matters of national security, we got to be eyes wide open about the threat. This is the biggest threat we’ve ever had,” she said. “We can’t let China get these chips. Period,” she said at one point.

She agreed with the Biden administration line about cooperation and managing competition in certain spheres but ultimately concluded, “Make no mistake about it, China’s not our friend.”

But China says its ability to circumvent the US tech curbs is a sure thing:

Wang, the Foreign Ministry spokesman, said that stance exposed the “Cold War mentality” of the US and its desire for hegemony. He also indicated that his nation would get around the tech curbs eventually.

“The violation of the rules and regulations of the free-trade market is just like building a dam with a sieve,” he said. “No matter how hard you try, the water will just flow through it.”

See more of Raimondo’s remarks at the Reagan National Defense Forum below…

Some highlights from Raimondo’s remarks:

* * *

Host: “Huawei released their new smartphone…” Raimondo: “[China’s] capable of doing very bad things, and we’re gonna deny the entire country this class of equipment. We can’t let China get these chips. Period.”

“Listen, America leads the world in artificial intelligence. Period. Full stop. We’re a couple years ahead of China. No way are we going to let them catch up. We cannot let them catch up. So we’re going to deny them our most cutting edge technology.”

She’s fed up with semiconductor firms whining: “newsflash: democracy is good for your business. Rule of law, here and around the world, is good for your businesses. It might make for a tough quarterly shareholder call, but in the long run, it’s worth you working for us to defend our national security.” More export controls are coming…

“Host: Are there other U.S. origin products or types of technologies that you are looking at in a similar fashion right now. Raimondo: Absolutely, in biotechnology, AI models, AI products, cloud computing, supercomputing. So short answer is yes.”

On US-China dialogue: “I would say communication is a good thing but don’t confuse communication with weakness or softness. On matters of national security, we’ve got to be eyes wide open about the threat. This is the biggest threat we’ve ever had, and we need to meet the moment. The world needs us to manage our relationship with China responsibly. To avoid escalation, we’ve got to do all that, but make no mistake about it, China’s not our friend, and we need to be eyes wide open about the extent of that threat.

“I am ready to win, and I’m ready to do that with all of you, but it’s time to open our aperture and challenge the way we’ve done business in every way if we’re going to meet the threat China poses. And if we’re going to do what needs to be done with this technology.”

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EUROPE/

END

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

BRAZIL

every country must now be very cognizant of this: Hamas cells everywhere

(courtesy Jerusalem Post)

Brazilian Hezbollah suspect cased out synagogues in Brasilia, documents show

Police found evidence on Lima’s seized phone “that he had carried out reconnaissance tasks in places for possible attacks against the Jewish community in Brazil.”

By REUTERSDECEMBER 6, 2023 21:59

A Hezbollah flag and a poster depicting Lebanon’s Hezbollah leader Sayyed Hassan Nasrallah are pictured along a street, near Sidon, Lebanon July 7, 2020(photo credit: REUTERS/ALI HASHISHO)

A Brazilian man arrested on suspicion of ties to Hezbollah had taken videos and photos of two synagogues and a Jewish cemetery in Brasilia just weeks before he was arrested on terrorist charges last month, court documents show.

Lucas Passos Lima was one of at least three men arrested in November as Brazilian federal police took down a suspected Hezbollah cell, working on a tip from the US Federal Bureau of Investigation about a possible attack in Brazil or nearby.

According to a Dec. 5 federal court document seen by Reuters, police found evidence on Lima’s seized phone “that he had carried out reconnaissance tasks in places for possible attacks against the Jewish community in Brazil.”

In September, the document says, Lima took video and photos of the Taguatinga and Águas Claras synagogues in Brasilia, along with the Jewish area in Brasilia’s Campo da Esperança cemetery. In addition, his search history revealed research into an unnamed Jewish leader, as well as the Israeli Embassy in Brazil and Jewish locales in neighboring Goiás state.

What is in the videos?

In one of the videos on his phone, shot while driving past the Taguatinga synagogue, someone in the vehicle can be heard saying: “Bingo.”

WAVING THE Hezbollah flag in Marjayoun, Lebanon. (credit: AZIZ TAHER/REUTERS)

The court document also shows that Lima had undertaken weapons training and sought out a pilot with experience crossing borders, possibly with a view to fleeing after a possible attack.

Lima is one of at least five Brazilian men suspected of being tapped by alleged Hezbollah recruiter Mohamad Khir Abdulmajid, a naturalized Brazilian who is now a fugitive.

Hezbollah, which was set up by Iran’s Revolutionary Guards in 1982 to fight Israeli forces that had invaded Lebanon, acts as Iran’s spearhead in Lebanon and the region.

Two of the alleged recruits were granted release from temporary detention, according to the judge’s Dec. 5 decision, as they “do not offer a threat to the investigation nor society.”

However, the judge ordered Lima remanded into pre-trial detention. Abdulmajid, in absentia, was also ordered jailed pending trial.

Messages between Lima and Abdulmajid “show inordinate loyalty to the aims of the terrorist organization,” the document states. In messages from Lima to Abdulmajid, Lima regularly asks to be given “a mission.”

“You can relax, because whatever you order will be carried out,” Lima said in one message to Abdulmajid.

END

ISRAEL/ARAB ISRAELIS

Interesting: Israel shows the 47 minute film of the atrocities from the Oct 7 massacre.

(Jerusalem Post/Wednesday)

‘We are all Israelis’: Arab sector leaders watch October 7 horror film

In attendance were heads of local municipal authorities, community leaders, media personalities, journalists, and thought leaders from the Arab community in Israel.

By SHAKED SADEH/MAARIVDECEMBER 6, 2023 21:36

A BABY’S CRIB is turned on its side amid the disarray in a home at Kibbutz Nir Oz, in the aftermath of the October 7 attack carried out by Hamas.(photo credit: RONEN ZVULUN/REUTERS)

The IDF Spokesperson’s Unit held a screening on Tuesday night for leaders of the Israeli-Arab sector, showing them the video testimony of the horrific events of October 7.

In attendance were heads of local municipal authorities, community leaders, media personalities, journalists, and thought leaders from the Arab community in Israel.

The screening took place in Nazareth and was also attended by Diaspora Affairs and Combatting Antisemitism and Social Equality Minister Amichai Chikli.

The film, according to Chikli, reveals the degree to which “education can lead to murderous hatred, to the point of erasing the essence of God in a person, even if he shouts [God’s] name while slaughtering women and children.”

Arabs and Jews going through this together

“Today is the second time I watched the film,” said Maher Khaliliya, head of the municipal council of Yafia. “We support the victims of the massacre, Israelis who experienced inhuman acts by Hamas. It is important to me that we convey the message that we, the Arabs and the Jews…are going through this period together.”

The destruction caused by Hamas terrorists in Kibbutz Be’eri, near the Israeli-Gaza border, in southern Israel, October 14, 2023. (credit: ERIK MARMOR/FLASH90)

“I strongly condemn the terrorist acts of Hamas,” continued Khaliliya. “What we saw in the movie is…not human behavior. It does not matter if we are Jews, Muslims, Christians, or Druze – the main thing is that we know how to remain human.”

“It was important for me to see the film again and express a deep sympathy for the victims,” he added.

Khaliliya continued, saying: “As a person living in Israeli society, I [share] deep pain with the citizens who received this blow on that Saturday, on their holiday, on their [day of] rest. Every father and every mother just wants to protect their children – and when they come in to murder you and your children and commit terrorist acts inside your home, it’s simply the end of the world.

“We will continue to live together and take care of each other. We are one society…We need to continue to live together – Jews alongside Arabs. We are all Israelis.”

END

Why should anybody listen to this clown? (Biden)

(zerohedge)

Biden Tells Israel To Wrap Up War By January As An Estimated 80% Of Gazans Displaced

WEDNESDAY, DEC 06, 2023 – 08:00 PM

With a ground war now raging in the Gaza Strip’s second largest city of Khan Younis in the south, civilians have nowhere left to go. The Strip’s southern half was initially declared a ‘safe zone’ by Israel’s military, but it now says top Hamas commanders are hiding out there.

The United Nations has issued a fresh statement estimating that more than 80% of Gaza’s population has been displaced. The UN issued a figure of 1.87 million people who have been driven from their homes.

Further the AP cited that UN as saying “fighting is now preventing distribution of food, water and medicine outside a tiny sliver of southern Gaza” and that the latest military evacuation orders are “squeezing people into ever-smaller areas of the south.”Via CNN/Getty Images

And the ground war and aerial bombardment is expected to continue with great intensity through at least January. “We are in a high-intensity operation in the coming weeks, then probably moving to a low-intensity mode,” an Israeli official told CNN.

The Biden administration last week reportedly warned Israel that the clock is ticking on its military operation, and that it’s unlikely to have even “months” to fight given domestic and international pressure is ratcheting in response to the soaring death toll (which according to Palestinian sources has surpassed 16,000 killed in Gaza).

According to details of the message delivered to Israeli leaders:

Officials from the Biden administration have marked the start of 2024 as the target date for ending Israel’s massive military campaign against terror group Hamas.

Officials have told their Israeli counterparts that this is not a deadline but a target. According to the administration, Israel is close to exhausting the extensive ground invasion it launched in late October in the aftermath of the Oct. 7 massacre and should switch to more focused efforts to bring down Hamas.

“The gap between us and the Americans is around three weeks to a month — nothing that cannot be resolved,” an Israeli diplomatic source told Al-Monitor on condition of anonymity.

Israel reportedly wants a timeline of at least till the end of January and not the month’s start. Some observers have warned it could in reality take “years” to fully dismantle Hamas.

According to analysis in The Washington Post, Hamas is still intact and its numbers have been barely dented. “At least 5,000 Hamas militants have been killed, according to three Israeli security officials, leaving the majority of the group’s estimated 30,000-strong military wing intact,” the report says based on Israeli defense sources.

Scenes of Rashid Street west of Gaza City show an entire large area obliterated…

“This is going to be a long haul,” a spokesman for the Israeli military, Lt. Col. Richard Hecht, told the Post. “We need the time,” he said while acknowledging the growing international pressure.

But as WaPo underscores, “The cost has already been devastating, with nearly 16,000 Palestinians killed, including more than 5,000 children, according to Gaza’s Ministry of Health.” By comparison there hasn’t been this many civilian deaths in all of the Ukraine war, which is approaching two years of fighting.

end

Thursday morning

No regard for human life

Hamas launches rockets near Gazan civilian tents, UN facilities – IDF

By JERUSALEM POST STAFF posts[i].image.ImageName (photo credit: Hasan Shirvani/IRNA) Iranian Foreign Minister Hossein Amirabdollahian meets with Hamas leader Ismail Haniyeh in Qatar. October 15, 2023(photo credit: Hasan Shirvani/IRNA)

The IDF released photo evidence on Thursday morning of Hamas terrorists launching rockets at Israel from launchers directly adjacent to tents used by fleeing Gazan civilians, as well as a UN facility.

The IDF dated the rocket launch to 3:59 p.m. on Wednesday.

Go to the full article >>

end

(Jerusalem Post)

IDF pushes further into Khan Younis, Jabaliya; 3 soldiers killed in heavy fighting

IDF says Hamas firing rockets at Israel from Gaza humanitarian zones * IDF ground op toll at 87 * WHO director says Gaza health system ‘on its knees’

END

(COURTESY JERUSALEM POST)

Police block march of Jewish radicals from entering Old City’s Muslim Quarter as planned

By JEREMY SHARON

Police block a far-right march from entering the Old City on December 7, 2023. (Jeremy Sharon/Times of Israel)

A far-right march organized by Kahanists and Jewish ultranationalists is stopped in its tracks by a large police force, water cannon and mounted police.

The police had approved the march, which was supposed to have gone through the Muslim Quarter, and it is unclear why the march was stopped at the last moment.

Marchers brought along inflammatory signs including one calling for a bulldozer to be brought to the Temple Mount, alluding to the protest’s declared goals of destroying the Al-Aqsa Mosque and Dome of the Rock shrine at the holy site.

Police confiscated many of the posters and arrested one demonstrator before blocking the route of the protest down the northern side of the Old City of Jerusalem and towards the Damascus Gate where the marchers had been slated to enter.

Longtime ultranationalist political figure Baruch Marzel rejects claims that the march could have sparked inter-communal violence and unrest, saying the October 7 atrocities “took place during the quietest period in Israel,” regarding the Israeli-Palestinian conflict, in many years.

Marzel also criticizes the police for stopping the march, saying, “There’s democracy in Israel for the left, not the right.”

IRAN/USA//JERUSALEM POST

Iran seizes two fuel tankers carrying 4.5 million liters of fuel in Persian Gulf

The report did not state what countries the vessels or the crew were from.

By TZVI JOFFRE posts[i].image.ImageName (photo credit: Mohammad Rasool Moradi/Tasnim News Agency) IRGC Naval forces.(photo credit: Mohammad Rasool Moradi/Tasnim News Agency)

Iran’s Islamic Revolutionary Guard Corps (IRGC) seized two oil tankers carrying about 4.5 million liters of fuel on Wednesday, claiming that the tankers were smuggling fuel, according to Iranian media.

One of the two ships was carrying 2.28 million liters of fuel and had a crew of 13 foreign citizens, Ali Ozmaee, the commander of the Fifth Naval Region of the IRGC, told the IRGC-affiliated Tasnim News Agency. The second ship was carrying 2.3 million liters of fuel and had a crew of 21 foreign citizens.

The report did not state what countries the vessels or the crew were from.

The two vessels were seized south of Abu Musa Island, located between Iran and the United Arab Emirates. The island is administered by Iran, but is claimed by the UAE as a territory of the emirate of Sharjah.

Oil tanker seized by the IRGC, October 31, 2022 (credit: FARS NEWS AGENCY)

Maritime tensions rise in region amid Houthi attacks

The incident comes amid heightened maritime tensions in the region as the Iran-backed Houthi militia intensifies its attacks on maritime traffic in the southern Red Sea and the Gulf of Aden.

On Wednesday, the US Navy shot down a drone that was launched from Houthi-controlled territory in Yemen. Earlier, the United Kingdom Marine Trade Operations reported an incident involving a UAV west of the port of Hodeidah in Yemen.Go to the full article >>

END

TIMES of Israel report for Thursday

(Times of Israel)

IDF says Hamas firing rockets from Gaza safe zones as civilian scramble for shelter

Military says terror group launched projectiles from next to tents housing civilians; troops push further into Khan Younis, Jabaliya; 3 soldiers killed, taking ground op toll to 87

Rockets fired at Israel on Wednesday were launched from within humanitarian zones set up in Gaza to allow civilians a safe haven, Israel’s military charged Thursday, as troops pressed into major Hamas strongholds in northern and southern Gaza amid heavy fighting.

According to the Israel Defense Forces, two separate rocket attacks Wednesday afternoon, including a large barrage aimed at Negev metropolis Beersheba, were fired from the vicinity of areas that are supposed to be free of hostilities, putting civilians at risk.

“At 15:59, Hamas terrorists launched 12 rockets toward Israeli civilians in the city of Beersheba in southern Israel. The rockets were launched from near tents of evacuated Gazan civilians in Rafah in southern Gaza and from next to United Nations facilities,” the IDF said in a statement.

It said a rocket was also fired three hours earlier “from inside a humanitarian zone. The rocket misfired, putting many Gazan civilians at risk.”

The evacuation zones are areas designated by the IDF as safe for civilians within the Gaza Strip.

Israel has long accused Gaza-based terror groups of using Palestinians in the Strip as human shields, operating from sites including schools and hospitals which are supposed to be protected.

While many of the rockets in the Beersheba attack were intercepted, one rocket slammed into a parking lot in the city’s industrial zone, causing damage to nearby vehicles. No injuries were reported.

Rocket fire continued on Thursday toward towns in southern Israel. There were no injuries or damage reported.

Meanwhile, the IDF said troops continued to advance in southern Gaza’s Khan Younis and the Jabaliya camp in the north of the Strip, as the Air Force carried out strikes on dozens of Hamas targets.

The IDF said that in one incident, two Hamas operatives popped out of a tunnel and opened fire at forces, who responded by killing the gunmen and destroying the tunnel shaft. It published footage showing the incident

In northern Gaza, troops captured a main Hamas outpost in the area and killed several operatives in the process, the IDF said. Tunnels and weapons were found in the area.

The IDF also said the Navy has continued to assist the ground forces, carrying out strikes and shelling of Hamas sites along the coast.

Amid the intense battles, the military announced the deaths of three soldiers killed during fighting in Gaza, bringing the toll of slain soldiers during the ground offensive against Hamas since late October to 87.

The three were named as Staff Sgt. Amit Bonzel, 22, of the Paratroopers Brigade’s reconnaissance unit, from Shoham; Staff Sgt. Alemnew Emanuel Feleke, 22, of the Commando Brigade’s Duvdevan unit, from Kiryat Gat; Sgt. First Class (res.) Maor Gershoni, 24, of the 6th Brigade’s 8173rd Battalion, from Yokne’am Illit.

Feleke was wounded December 5 during fighting in southern Gaza and succumbed to his wounds on Wednesday, the army said.

Staff Sgt. Amit Bonzel, left, and Staff Sgt. Alemnew Emanuel Feleke, (c), (R) Sgt. First Class (res.) Maor Gershoni, 24, killed in fighting in the Gaza Strip on December 6, 2023 (Israel Defense Forces/Courtesy)

Israel’s advance on Khan Younis, southern Gaza’s largest city, has added to an already dire humanitarian situation in south Gaza, with thousands fleeing further southward to Rafah and others desperately searching for basic supplies. Some accused Hamas of stealing aid from civilians.

As the Israeli troops advanced deeper into the Strip, the humanitarian situation in the Gaza deteriorated, as World Health Organization (WHO) director-general Tedros Adhanom Ghebreyesus said that the enclave’s health system was nearing total collapse.

Areas where Gazans can seek safety are rapidly receding, with many displaced multiple times.

With northern and central Gaza seeing intense fighting, Palestinians are heading further south to Rafah and other areas along the border with Egypt, where family homes are packed tight and makeshift shelters are overflowing.

Tens of thousands of people have fled from Khan Younis and other areas to Rafah, on Gaza’s southern border with Egypt. Rafah, normally home to around 280,000 people, is already hosting more than 470,000 who fled from other parts of Gaza.

On the other side of the border, Egypt has deployed thousands of troops and erected barriers to prevent any mass influx of refugees.

Before it launched its ground operation in north Gaza in late October, the IDF urged those living in the northern part of the Strip to head south as its troops advanced. Now, after the end of a temporary truce deal, which concluded when Hamas violated the terms, troops have pushed further into the south, where Israel believes Hamas leaders are hiding, leaving civilians feeling they have few places left to flee.

The World Food Program said Thursday a “catastrophic hunger crisis” threatens to “overwhelm the civilian population” in Gaza.

Israel maintains that Hamas is stockpiling supplies and keeping them from an increasingly desperate civilian population.

In a bid to facilitate an increase in the number of aid trucks that can enter Gaza each day, Israel will open the Kerem Shalom Crossing with Gaza for the inspection of humanitarian aid trucks in the coming days for the first time since the outbreak of the war, a senior Israeli official said Thursday.

Israel currently inspects the trucks at the smaller Nitzana crossing between Israel and Egypt before they are sent to Rafah.

While Israel will use the Kerem Shalom facilities to inspect the trucks, they will still need to enter Gaza through Rafah.

The Biden administration and the broader international community have been pressuring Israel for weeks to open Kerem Shalom, previously Gaza’s main goods crossing.

Israel on Wednesday approved a “minimal” increase in fuel supplies to the Gaza Strip to prevent a humanitarian crisis, amid mounting pressure from Washington to ramp up aid to Gaza and to take further steps to avoid mass civilian casualties.

Israel has restricted fuel shipments into Gaza since the outbreak of the war over concerns that the crucial resource will fall into the hands of Hamas for military purposes. Humanitarian officials say the fuel shortages have crippled the health care system and hindered deliveries of basic humanitarian supplies.

The Prime Minister’s Office announced that the security cabinet voted to approve the war cabinet’s proposal to increase the daily amount of fuel allowed into the Gaza Strip.

The PMO did not say how by how much the delivery will grow, merely saying the additional fuel approved is “the minimal amount needed to prevent a humanitarian collapse and the outbreak of epidemics in the southern Gaza Strip.

“This minimal amount will be determined from time to time by the war cabinet, in accordance with the disease rate and humanitarian conditions in the Strip.”

Channel 12 news cited unsourced “estimates” that the war cabinet will gradually increase the daily amount from the current 60,000 liters to three times that amount, 180,000 liters, in accordance with the US demand.

The Hamas-run Gaza health ministry said Tuesday that 16,248 people had been killed in Gaza since the start of the war, a figure that largely tracks with an assessment by Israel, which said it believes more than 5,000 of those killed are Hamas operatives.

Times of Israel staff, Jacob Magid and agencies contributed to this report.

END

(Times of Israel)

IDF: Hamas officials keeping Gazans in poverty, suffering

Following the IDF’s invasion, it has been discovered that Hamas has been hoarding wealth away from Gazans living in poverty.

By YONAH JEREMY BOBDECEMBER 7, 2023 15:32Updated: DECEMBER 7, 2023 15:40

The IDF’s invasion has exposed the extent to which Hamas’s top officials have hoarded wealth away from their people in Gaza who are trapped in a cycle of poverty.

On Thursday, the IDF produced financial receipts it found during raids of Hamas locations in Gaza which were then analyzed by IDF intelligence officials.

Thousands of dollars in purchases

Among the receipts, is evidence that Moaz Haniyeh, the fourth son of Hamas Chief Ismail Haniyeh, purchased jewelry in recent years worth thousands of dollars at the same time that Hamas was accusing Israel of holding Gazans down in poverty.

Social media posts from IDF Arabic language spokesman Avichay Adraee display five receipts from Moaz acquiring jewelry both in Qatar and Gaza in 2021-2022 for over $25,000.

Adraee emphasized that “one receipt for jewelry purchased by Ismail Haniyeh’s son is equivalent to approximately two years’ work for a Gaza resident.”

Previously, the Israeli Embassy to the US publicized that Ismail Haniyeh’s net worth is around $4 billion, with another top Hamas official, Khaled Mashaal, also having a similar net worth.

All of this contradicts Hamas’s messages to its people that it is clean and incorruptible and that its leaders live simple lives in contrast to the Palestinian Authority leaders, many of whom are known to be wealthy and corrupt.

Previous exposes in Saudi media and other foreign media have also given detailed accounts of Ismail and Maoz’s wealthy lifestyles.

END

LATE THIS MORNING

Times of Israel…

Now the hard part: who is Hamas and who is not? The Gaza men surrendered in Jabalyia

(Times of Israel)

Footage shows dozens of Gaza men said to have surrendered to IDF; reportedly may be Hamas suspects

Palestinian men said to have surrendered to the IDF in the Jabaliya area of northern Gaza on December 7, 2023. (Screen capture/screenshot, used in accordance with clause 27a of the copyright law)

Several clips filmed in Gaza uploaded onto social media over the last several hours show how the IDF has rounded up dozens of Palestinians — said in Hebrew media reports to be possible Hamas suspects — who have surrendered themselves to Israeli troops in Jabaliya and other areas in the northern Strip.

The young Palestinian men are seen stripped down to their underwear, blindfolded and with their hands tied behind their backs.

In one clip, a group of them are seen being transported in the back of an Israeli military vehicle.

The IDF has not yet commented on the apparent mass arrests.

Palestinian men said to have surrendered to the IDF in the Jabaliya area on December 7, 2023. (Screem capture/screenshot, used in accordance with clause 27a of the copyright law)

Palestinian men said to have surrendered to the IDF in the Jabaliya area on December 7, 2023. (Screen capture/screenshot, used in accordance with clause 27a of the copyright law)

IDF says troops probing those left in Jabaliya and Shejaiya for ties to Hamas

IDF Spokesman Rear Adm. Daniel Hagari comments on the photos showing Israeli troops detaining dozens of Palestinian men in the Gaza Strip today.

“Jabaliya and Shejaiya are ‘centers of gravity’… for terrorists, and we are fighting them. They are hiding underground and come out and we fight them. Whoever is left in those areas, they come out from tunnel shafts, and some from buildings, and we investigate who is linked to Hamas, and who isn’t. We arrest them all and interrogate them,” Hagari says in response to a question at a press conference.

END

Two senior Hamas terrorists eliminated

(times of Israel)

IDF says it killed pair of senior Hamas intel official in airstrike this week

By EMANUEL FABIAN Today, 6:03 pm 1

Abed al-Aziz Rantisi (L) and Ahmed Ayush. (IDF

The IDF says that a few days ago it killed two senior officials in Hamas’s intelligence division, in an airstrike in the Gaza Strip.

It says one of the officials, Abed al-Aziz Rantisi, was responsible for Hamas’s observation capabilities, and was involved in the planning of the October 7 attacks.

He was killed in a strike on a Hamas intelligence command room, along with Ahmed Ayush, who the IDF says is a senior operative in the terror group’s observation array in the al-Qarara battalion.

The IDF says the command room that was hit in the strike was a center for all of Hamas’s observation capabilities, and it “served as a significant strategic asset for the management of the fighting.”

end

Lt Col Richard Hecht

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Rockets at Civilians…From Behind Civilians

When a humanitarian zone becomes a terrorist’s rocket launchpad

LT. COL. RICHARD HECHTDEC 7

READ IN APP

In this issue, I talk about the scourge of rocket fire from Gaza, Hamas rocket fire from near humanitarian zones in the Gaza Strip, provide operational updates on the latest and more.

Subscribed

With a population of 210,000, Be’er Sheva is the fourth largest city in Israel. Not to be confused with the biblical site of Tel Be’er Sheva, which is 4km (2 miles away), today it is a bustling metropolis and known as the capital of the Negev, Israel’s southern desert region. Beyond being the site of many tech companies, it also hosts Ben-Gurion University of the Negev, one of Israel’s largest universities.

And, like most Israeli cities, it too is subject to ongoing attacks from Gaza.

This started even before Israel’s Disengagement from the Gaza Strip in 2005.

For example, nearly twenty years ago, on August 31, 2004, sixteen people were killed in two parallel suicide bombings that Hamas claimed responsibility for. One year later, another suicide bomber rocked Beer Sheva’s Central Bus Station.

But let’s talk rockets.

One of the most horrific aspects of Hamas’ ongoing attacks is the steadily expanding rocket attacks on Israel. Rocket fire from the region started in 2001 and was largely limited to the surrounding communities. Over time, this rocket fire scaled in both quantity and quality.

By 2006, the year following the disengagement, rocket smuggling and local production translated into far larger quantities of rocket fire.

In total, 974 rockets and mortars were fired at Israel in 2006.

Each one of these is a terrifying experience that sends residents running to shelters. A siren sounds or the words “Tzeva Adom” (“Color Red”) blare and life is disrupted, many hundreds of times a year.

Today, there are 21-year-old adults who were born and grew up in a regular reality where rockets were intentionally launched at them, frequently leaving them just seconds to find shelter.

This brings us back to Be’er Sheva.

By the 2008 operation in Gaza, Be’er Sheva entered the range of Gaza’s rockets.

Over time, larger and larger swaths of Israel would fall into range. This was fueled, in part, by Iranian rocket smuggling. For example, in March 2014 the IDF intercepted the Klos C, a container ship, that was carrying 40 long-range M-302 rockets and 181 mortar shells from Iran.

The Klos C after being seized by the IDF

Today, most of the country’s population is in range of these rockets and the number of rockets fired dwarf the numbers from decades ago.

In total, dozens of Israelis have been killed and many, many more have been left psychologically scarred. Of course, the number of casualties would have been far, far higher if not for the Iron Dome, Israel’s aerial defense interceptor. And the number of casualties doesn’t include the many Gazan casualties from the failed launches, like the Ah Ahli hospital incident.

Rockets, Beer Sheva and the 2023 War

On October 7, while terrorists on the ground were massacring and abducting Israelis in southern Israel, Hamas operatives simultaneously fired over 3,000 rockets from Gaza. In the succeeding 62 days, thousands more have been fired at Israelis across the country.

Be’er Sheva, of course, was in range and rocket fire continued… with one incident yesterday that sticks out.

Yesterday afternoon, at 3:59 PM, when many children were just finishing school, another volley of rockets was launched at Be’er Sheva. This was a tragically unexceptional event…besides for where the rockets were launched from.

These particular rockets were launched just 30 meters (about half a basketball court) from the humanitarian zone established to help the people of Gaza stay out of the line of fire.

This is shocking on many levels.

It is shocking that Hamas has – for twenty years now – indiscriminately rained down missiles on the people of Israel.

Where they are fired from is shocking. Hamas persistently hides its terrorist activity – tunnels, launch sites, command and control centers – under the homes, hospitals, mosques and schools in Gaza. It’s safer for Hamas to launch from there…because it endangers Gazans.

But intentionally taking the battle into the very humanitarian zone designed to protect the people of Gaza strikes me as more shocking still. Just look at it again:

This is just another in a growing list of proof points that for Hamas, the people of Gaza – wherever they are – are viewed as nothing more than human shields.

Oh, and the attacks from the humanitarian zone also actively endangered Gazans. Check this out:

One of the rockets launched yesterday actually landed inside of Gaza, like some 10% of all rockets do.

This is the reality of the threat that Israelis – and clearly Gazans – face every day from Hamas. Indiscriminate rockets fired – very intentionally – at civilians and from behind civilians.

Help us share the truth about what’s happening in Israel during our war on Hamas.

The IDF continued its operations against Hamas, expanding ground operations in Hamas’ Central Gaza Brigade. Khan Younis, a Hamas stronghold and home of Hamas leaders like Deif and Sinwar, was encircled, with the IDF commando brigade entering the city in tactical raids. During these operations in Khan Yunis, IDF troops killed Hamas terrorists and struck dozens of terror targets.
The IDF and Sin Bet announced that a few days ago, the IAF eliminated Abdel Aziz Rantisi, a senior terrorist operative from Hamas’ military intelligence unit.Rantisi had been responsible for field intelligence in the Gaza Strip and participated in the planning of the October 7th massacre. He was eliminated in an attack on Hamas’s central intelligence command center along with Ahmed Aiush, a terrorist operative from Hamas’ Carrara Battalion observation unit.
Combined operations between the Israeli Air Force (IAF) and ground forces continue to provide itself. In one case yesterday, a terrorist cell was identified emerging from a shaft in the Khan Yunis area, armed with an RPG. IDF ground troops directed a UAV to strike the terrorists. The IDF troops then neutralized the tunnel shaft.
Rocket fire from Lebanon continued. In addition to IDF artillery and tank fire that responded toward the source of fire, IAF aircraft targeted a Hezbollah command center and infrastructure overnight.

Quote of the Day

“The combat in Khan Yunis is a major effort, I am impressed by how well it is being managed – you are in control, you are moving forward. There are moral objectives here, that guide us.”

The Commander of the Southern Command, MG Yaron Finkelman addressing soldiers

Yesterday the IDF sent some half a million sufganiyot (traditional jelly donuts eaten on Hanukah) to soldiers in and around the Gaza Strip. That’s about 300 million calories, for those of you calorie-counting.

And if you’re celebrating, here’s wishing you and your loved ones a very Happy Hanukah

Oh, and one last question for me.

POLLWhat would you like to hear more about?Specific units within the military What’s happening in Gaza Israeli humanitarian aid to Gaza What I have for dinner

GLOBAL VACCINE/COVID ISSUES

Respiratory Illnesses On The Rise Across The US, CDC Warns

THURSDAY, DEC 07, 2023 – 06:30 AM

Authored by Jack Phillips via The Epoch Times,

The U.S. Centers for Disease Control and Prevention (CDC) issued an advisory about a recent increase in respiratory illnesses across the United States.

In an update posted on Dec. 1, the federal health agency said the country is seeing “elevated” activity of RSV, or respiratory syncytial virus, in young children. It also stated that influenza cases are increasing across most of the country and that COVID-19 has seen an increase in recent days, namely in the Midwest and Mid-Atlantic regions.

“Hospital bed occupancy for all patients, including within intensive care units, remains stable nationally; however, pediatric inpatient bed occupancy has been increasing,” the agency said.

It added that emergency department visits and hospitalizations continue to increase for RSV, a virus that primarily affects young children and the elderly, and that positive tests, hospitalizations, and emergency department visits are increasing for influenza. It noted that for RSV, hospital rates remain elevated for younger children and are currently on the rise for older adults.

As for COVID-19, the CDC’s data show that emergency visits were up 10.6 percent in the week ending Nov. 25 and hospitalizations were up 10 percent in the same time period. Historical trends indicate that the current increase appears to be far lower than previous “surges” since the pandemic started in 2020.

Data reported by the health agency from wastewater sampling and hospital emergency rooms show that Illinois, Indiana, Ohio, Wisconsin, Michigan, and Minnesota have seen the largest increases in COVID-19 cases in recent days.

Last week, the CDC estimated that about 1 in 10 new COVID-19 cases in the United States are due to the BA.2.86 variant—about triple what the agency estimated two weeks before that.

“In previous Nowcast updates, BA.2.86 was too uncommon to be shown separately and was grouped with other BA.2 strains,” the CDC said in its update. But now, the variant stands at 8.8 percent through Nov. 25, or about three times the rate that was reported on Nov. 11.

The World Health Organization also recently said that BA.2.86 is a “variant of interest” amid the recent rise in cases.

Update on Pneumonia Cases

Following a surge of pediatric pneumonia cases in China and reports of a rise in childhood pneumonia incidents in Ohio, the CDC said that it’s monitoring the situation.

“These reported increases do not appear to be due to a new virus or other pathogen but to several viral or bacterial causes that we expect to see during the respiratory illness season,” the CDC bulletin said. “CDC will continue to work closely with our state and local public health partners to maintain strong situational awareness and will provide updates, as needed.”

The federal agency said on Dec. 1 that pneumonia “rates are roughly in line with previous years for patients aged 0–1 years and 2–4 years nationally.” For children between the ages of 5 and 17, the “percent of emergency department visits diagnosed with pneumonia among patients” is “similar to pre-pandemic years, and it remains lower than that seen among younger children,” the CDC said.

“Diagnosis of pneumonia in children, along with other respiratory illnesses, increases every year in the fall and winter months,” the CDC said.

“The weekly percent of emergency department visits with diagnosed pneumonia is largely consistent with previous years for children aged 0 to 4 years, with slight increases above typical levels for children aged 5 to 17 years, but still consistent with pre-pandemic years.”

The CDC bulletin said the agency is monitoring cases in China and Europe and that it is “working closely” with state, local, and international health officials. “Based on laboratory findings, these increases in pediatric pneumonia do not appear to be caused by a new virus or other pathogen,” it added. “Instead, these increases are likely caused by viruses and bacteria we expect to see during the respiratory illness season.”

It comes after health authorities in Ohio’s Warren County confirmed 142 cases of pediatric pneumonia since August, noting that it’s above average for the county and meets Ohio’s definition of an outbreak.

But the officials said they believe it’s not a “novel” or “new” respiratory infection but a “large uptick in the number of pneumonia cases normally seen at one time.”

Parents take their children to see a doctor at the pediatric emergency department of a hospital in Shanghai on Nov. 14, 2023. (CFOTO/Future Publishing via Getty Images)

Reports also have indicated that cases of childhood pneumonia have also risen in Massachusetts, according to local media outlets. However, few details were provided.

Chinese Communist Party officials, meanwhile, have said the rise in childhood pneumonia cases can be attributed to RSV, COVID-19, influenza, and Mycoplasma pneumoniae, a type of bacteria that can cause “walking pneumonia” or “white lung.”

end

Insanity!! Sudafed and mucinex certainly does its job

(Wellness company)

CRIMINAL: The FDA Pulls Key Medications As New China Virus Emerges

BY THE WELLNESS COMPANY

Toilet paper… water… food… medications. People hoarded these items in 2020 as the world locked down in fear from COVID19.

Next, the FDA demonized and blocked life-saving medications like Ivermectin – causing an untold amount of death and paving the way for the even deadlier COVID19 mRNA vaccine.

An election year is here and it’s happening again.

After decades on the market, the FDA declared that the active ingredient in popular cold medicines like Dayquil, Mucinex, Sudafed, and Theraflu is ineffective. CVS and other pharmacies are pulling the products from store shelves.

It’s starting to feel like the perfect storm:

Remove reliable OTC medications and supplements from the shelves
Use wars and pandemics to enact severe shortage in prescription pharmaceuticals
Force lockdowns to push mail-in ballot voting, and as a bonus…
… fill Big Pharma’s wallet by mandating a deadly experimental “vaccine.”

Don’t rely on Joe Biden’s healthcare system to have your back.

Whether the crisis comes in the form of a pandemic or something more mundane like a tick bite – you and your family need to be prepared. That’s where The Wellness Company comes in.

The Wellness Company and their great doctors – like Dr. Peter McCullough, Dr. Drew, Dr. Harvey Risch, and Dr. Jim Thorp – are regularly in the media fighting against the broken medical establishment.

Dr. Thorp, one of the nation’s leading critics of corrupt Big Pharma, believes that now – more than ever – people should be prepared for the next pandemic:

“I’ve strongly recommended “stock piling” critical medications including antibiotics since the turn of the century. This has been an incredible investment as many friends, family and patients have benefited. Now, in winter of 2023, this recommendation is even more crucial.”

The Wellness Company and their doctors are medical professionals that you can trust and their new medical emergency kits are the gold standard when it comes to keeping you safe and healthy.

The ultimate safeguard for your health.

Be ready for the next crisis. This medical emergency kit contains an assortment of life-saving medications – including ivermectin, amoxicillin, and Z-pak. The Medical Emergency Kit includes a guidebook to aid in the safe use of these life-saving medications.

From anthrax to tick bites to COVID and whatever that new disease is in China – the Wellness Company’s Medical Emergency kit is exactly what you need to have on hand to be prepared.

This kit is prescription-only – you can’t find it in any store or pharmacy. Simply fill out a short questionnaire after purchase and a trusted Wellness Company doctor will confirm your suitability and issue your prescription Medical Emergency Kit.

The Wellness Company Medical Emergency Kit includes:

Amoxicillin-Clavulanate (generic Augmentin) 875/125 mg – 28 tablets
Azithromycin (generic Z-Pak) 250 mg – 12 tablets
Doxycycline Hyclate 100 mg – 60 capsules
Metronidazole (generic Flagyl) 500 mg – 30 tablets
Trimethoprim-Sulfamethoxazole (generic Bactrim) 800/160 mg – 28 tablets
Ivermectin 18mg – 7 compounded capsules
Fluconazole (generic Diflucan) 150 mg – 2 tablets
Ondansetron (generic Zofran) 4mg – 6 tablets
1 Emergency Medication Guidebook written by the Chief Medical Board for safe use.

What people are saying about the Medical Emergency Kit:

Excellent Kit! This medical emergency kit is great. Having it “just in case” gives me peace of mind. Highly recommend. Thank you! – Melinda C.

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Don’t be caught unprepared. Don’t be reliant on the broken and corrupt medical industrial complex. Don’t regret not acting today.

Order The Wellness Company’s Medical Emergency Kits now!

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:

Had we done NOTHING, nothing, just strongly double & triple down protections of the elderly & high-risk persons, we would have lost far fewer during the fraud 0.05% IFR, PCR driven emergency (never a

pandemic) fraud, all done to topple Trump! NOTHING, keep society & school OPEN fully day one! Instead we got COVID lockdown lunacy collaterol damage, deadly medical management, deadly mRNA shots

DR. PAUL ALEXANDERDEC 6

READ IN APP

Had we done NOTHING, we would have had a SUCCESSFUL fraud of a pandemic response. NOTHING, and why? Because now we analyze the data and see clearly that NOTHING worked, every single COVID policy FAILED! In fact, it killed people.

Who do we strip them who did this, governments, health officials, doctors etc. of their monies now? Who do we hold accountable? The 33 Horsemen of the COVID Apocalypse? Who do we jail? Who do we put to death after courts rule, for the lives they took needlessly, these ex cathedra power-drunk malfeasants, I chose to call them. Who?

end

If what France is reporting is true as in Medscape UK as to an unusual rise in mycoplasma pneumoniae Respiratory Infections that mirrors China in kids, then we are likely witnessing SYSTEMIC COVID

mRNA technology vaccine-induced immune subversion, suppression (Dr. Hodkinson concurs) likely with immune damage due to lockdowns; evidence of DOXYCYCLINE working to treat

DR. PAUL ALEXANDERDEC 6

READ IN APP

Doxycycline (over macrolides) results in better clinical outcomes with a shorter time to defervescence and to chest X-ray improvement among children with macrolide-resistant Mycoplasma pneumoniae

SLAY NEWS

he latest reports from Slay News

Canada Reports 135% Spike in Deaths from ‘Unspecified Causes’New Canadian government data has revealed the nation has suffered a staggering 135% spike in listed as “unspecified causes.”READ MORE

Pro-Vax Montreal Mayor Valérie Plante Collapses Suddenly on Stage, Mid-Speech Montreal’s vocal Covid vaccine advocate Mayor Valérie Plante has collapsed suddenly on stage in the middle of her speech.READ MORE

Ted Cruz: Biden ‘Funneled’ $66 Million in Taxpayer Funds to ‘Censor’ Americans Republican Sen. Ted Cruz (R-TX) is demanding answers after discovering that Democrat President Joe Biden and his administration “funneled” $66 million in taxpayer cash to fund efforts to “censor” the American people.READ MORE

Chris Christie’s Niece Charged over Drunken Airport Brawl Former New Jersey Gov. Chris Christie’s niece has been charged over a drunken brawl in a New Orleans airport that ended when she assaulted police officers.READ MORE

Republicans Move to ‘Defund’ & ‘Expel’ the United Nations Top Republicans have vowed to introduce legislation to “defund” and “expel” the unelected globalist United Nations (UN).READ MORE

Chuck Schumer Goes ‘Nuts’ at Republicans for Pushing Border Security Polices Democrat Senate Majority Leader Chuck Schumer (D-NY) reportedly went “nuts” when Republicans brought up the issue of border security during a classified briefing.READ MORE

Judge Voids Rigged Election after Democrat Wins by 1 Vote A Louisiana judge has voided a fraud-ridden election after the rigged local race was “won” by a Democrat candidate by just one vote.READ MORE

Biden Spoke with Hunter’s Business Associates Hundreds of Times While VP, Email Records Show Bombshell new records released by the House Ways & Means Committee have revealed that Joe Biden used email aliases to speak with his son’s business associates hundreds of times while in office as Obama’s vice president.READ MORE

Liz Cheney Panics over Looming Trump ‘Dicatorship’Former Congresswoman Liz Cheney (R-WY) has been appearing on national television to warn the American people that President Donald Trump allegedly plans to install himself as a “dictator.”READ MORE

‘Squad’ Member Jamaal Bowman Hit with Primary Challenge from Democrat Powerhouse Embattled Democrat Rep. Jamaal Bowman (D-NY) has just received a primary challenge after the radical House “Squad” member has recently faced multiple scandals.READ MORE

House Republicans Grill Harvard President over Anti-Semitsim, Pro-Hamas Protests on Campus Harvard University President Dr. Claudine Gay faced a brutal grilling from House Republicans during a congressional hearing on Tuesday.READ MORE

NYC Mayor Adams Stripped of Emergency Migrant Spending Power over ‘Extensive’ Reporting Failures New York City’s Democrat Mayor Eric Adams has just been hit with yet another scandal after being accused of “extensive” failures in his migrant spending reporting.READ MORE

Adam Schiff Files to Run for Feinstein’s Open Senate Seat: ‘It’s Official’Democrat Rep. Adam Schiff (D-CA) has announced that he has officially filed the paperwork to run for the late Sen. Dianne Feinstein’s (D-CA) open U.S. Senate seat.READ MORE

EVOL NEWS

Food Supply Secretly Flooded with mRNA & DNA ContaminationREAD MORE… LATEST NEWS:NZ Vax Whistleblower Drops More Truth Bombs after ArrestRead more…Ukraine aid in peril as Senate Republicans walk out of heated briefingRead more…‘Dictator’ Trump warnings spook AmericaRead more…Washington Post journalists plan 24-hour strike amid prolonged contract talksRead more…Rachel Maddow Interview with Liz Cheney Scores Over 3 Mil Viewers, Wallops Sean HannityRead more…JUST IN: Red State Treasurer Is Officially Putting The Hurt On DisneyRead more…New Book Claims AOC Has No Friends in Congress – A ‘Pariah’ Among DemocratsRead more…Hunter Biden got staggering $4.9M from ‘sugar brother’ Kevin Morris:…Read more…

…

NEWS ADDICT

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

Western Academia Is Just As Morally And Intellectually Corrupt As Congress, If Not Worse

THURSDAY, DEC 07, 2023 – 11:45 AM

By Michael Every of Rabobank

The US ADP employment report, the week’s second second-tier labour data ahead of initial claims today and payrolls tomorrow, came in weaker than expected at 103K vs. 130K, with slight downwards revisions to back data. Anyone would have thought a giant red LED sign saying ‘DEFLATION!’ had appeared over the economy, because that’s how it was taken by some. Indeed, taking the ADP the other way, Treasury Secretary Janet ‘Magic Mushroom’ Yellen just stated: “Economists who’ve said it’s going to require very high unemployment to get this done [meaning lowering inflation] are eating their words… It doesn’t seem at all like it’s requiring higher unemployment.” You thought we had tensions between a tight Fed and a loose Treasury before? Even Nick Timiraos at the WSJ notes Yellen was throwing shade. Given her Burns-like confidence, she will probably soon be throwing money too: 11 months until the 2024 election, after all.

Oil prices also went to a six-month low –which Yellen will try to claim as a win for her failed policies targeting Russian energy price caps– after another US inventory-build according to the EIA. I repeat, if this is holds, it’s a win for the Fed and what they have been doing, not Yellen and what she has been.

In the Red Sea there was a possible new attack on a merchant ship, and Houthis in Yemen fired a cruise missile at the Israeli port city of Eilat, which was shot down. True, the US may force Israel to end its war with Gaza in weeks (as the UN Secretary General triggers Article 99 of the UN Charter for the first time since 1989 to call for a Security Council debate). However, there is more than one front involved.

Defence Minister Gallant stated Israel will act against Hezbollah in Lebanon if a diplomatic push for the UN to enforce the resolution demanding it retreat back over the Litani river 30km from the Lebanon-Israel border fails. That would be the second of three dominos we flagged after 10/7 which lead to a regional escalation involving energy and Suez, a scenario the market discounts because it prefers its navel to anything naval.

While Russia’s President Putin was in Saudi and the UAE, all smiles and handshakes, the US Congress rejected Ukraine and Israel military aid bills. As the Saudis and UAE look for a defence umbrella they can rely on, the US is not only still trying to reach out to an Iran the Sunni Arab world mostly doesn’t trust, but is now even tentative about reacting to Houthi attacks, because it knows where the chain of command leads: Tehran.

Now a military helicopter belonging to Guyana is missing in its oil-rich territory which Venezuela just claimed as its own – right after the US offered to roll back sanctions on it. Caracas has already ordered state-owned company oil drilling in the territory: expect this issue to arrive at the UN’s door within days too. There are few military forces on the ground: but US troops have been present in Guyana since 2019, and the Brazilian army is reinforcing its northern cities of Pacaraima and Boa Vista. Give Russia and Iran breathing room, and higher oil prices, and see what happens next to help take the US eye off other geopolitical balls. And remember the recent call for the US to relaunch The Munroe Doctrine.

Yet where Russia geopolitically escalates to deescalate, the US keeps deescalating to inadvertently escalate.

Also recall the US is struggling to produce enough weapons: the WSJ notes, ‘The US Can Afford a Bigger Military. We Just Can’t Build It.’ Recall the recently used 1942 quote from Keynes: “Anything we can do, we can afford”? As the Financial Times points out, the Chinese economy is larger than the US in PPP terms, and the PLA is funded in CNY not USD, at far lower cost per unit. True, their property prices have collapsed – but they were never going to be much use militarily. Indeed, Russia, China, and even Iran, are becoming the ‘arsenals of autocracy’… with the help of Western firms, as noted by US Commerce Secretary Raimondo, who just stressed: “Newsflash: democracy is good for your business. Rule of law, here and around the world, is good for your businesses. It might make for a tough quarterly shareholder call, but in the long run, it’s worth you working for us to defend our national security.” But given the ‘War Without Gun Smoke’ report argues Lenin was apocryphally right that ‘The capitalists will sell us the rope we will use to hang them’, the US will have to act, not talk.

Meanwhile, hedge fund manager Bill Ackman tweeted again, but not about US Treasuries (which, by the way, see the 10-year at 4.12% this morning, so more easing of financial conditions). Instead, he eviscerated the presidents of Harvard, MIT, and Penn for telling a Congressional hearing on antisemitism that campus calls for the genocide of Jews only constitute bullying or harassment “depending on the context”, and if “the speech then turns into conduct.” He notes: “This could be the most extraordinary testimony ever elicited in the Congress,” and adds, “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.”

This matters for markets. You might think this doesn’t apply to you because you aren’t Jewish, American, or a student. Yet canaries in mines speak to the state of the mine, not the canaries. The university presidents shamed this week are evidence that post-modern Western intellectuals now act on the quote chiselled into Marx’s gravestone: “The philosophers have only interpreted the world, in various ways. The point, however, is to change it.” Doing so has seen the adoption of an identity politics taxonomy of ‘oppressed vs. oppressor’ or ‘colonized vs. colonizer’, and Fanon’s view that extreme violence is justified for the latter – as we see with Hamas. Yet aside from the Middle East issue, the list of “colonizers” to be violently resisted covers everyone in markets, every Western institution, and then capitalism, liberalism, and the West itself. Tell me what term premia should be on bonds, or where stocks will trade, or fair value for any FX cross is, if so.

This matters for markets. The success of the West lies not just in its liberalism, now unravelling, or its rule of law, which business evidently could care less about, or its military, which is going to be eclipsed on the current trend, but on its science and technology that powers that military. That’s why allowing top universities to turn into what @EricRWeinstein calls “Revolutionary Marxist justice fingerpainting day-care for sociopaths” is not a good idea. How many econometric papers talk about human capital, R&D, technological progress, etc., without looking at what the universities are actually doing? Economically, this can point to lower productivity and so stagflation. Geopolitically, Russia and China are throwing money at science in a Cold War manner, but it doesn’t even enter markets’ minds that this a talent contest the West could lose.

This matters for markets. Western institution after institution is being proved unfit for purpose. Congress, already held in contempt, is now finally seeing that academia is just as morally and intellectually corrupted, if not worse. A successful society might be able to get by for a while with one of those two not functioning, but surely not both. So, alongside the minutiae of data points and reading geopolitical runes, we also need to see if these university presidents step down, are fired, or U-turn towards substantive policy changes that can turn the ship around – and then look ahead to 2024 elections. So far, we have a series of official mea culpa tweets and promises of action. Then again, we heard a lot of “build back better” and “transitory” in recent years.

END

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

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

VENEZUELA/GUYANA

Another Biden mess: Venezuela to rob Guyana of her oil find

(zerohedge)

Blinken Conveys ‘Unwavering Support’ For Guyana After Venezuela’s Maduro Proclaims “Esequibo Is Ours”, Gives Energy Companies 3 Mos To Exit

THURSDAY, DEC 07, 2023 – 10:15 AM

To recap the rapidly evolving situation in Guyana…

Neighboring Venezuela now considers around three-quarters of the oil-rich nation theirs – with President Nicolás Maduro presenting a map on television that shows Guyana’s Esequibo region as under the jurisdiction of Caracas.
Maduro vowed to create a Venezuelan state known as Guyana Esequibo, for which he will grant Venezuelan citizenship to Guyanese residents there.
Maduro will has granted licenses and ordered state oil company PDVSA and state metal conglomerate CVG to drill for oil in the area.
A special military unit will be created for the territory.
Energy companies in the Esequibo region such as Exxon Mobil will “have three months to withdraw.”
Guyanese President Irfaan Ali said he would report the matter to the UN Security Council, saying in a late-night televised address “The Guyana Defense Force is on high alert,” adding “Venezuela has clearly declared itself an outlaw nation.”
The UN Security Council will hold a closed-door meeting on the issue Friday, Bloomberg reports.
And last night, a Guyana army helicopter was reported missing near the border with Venezuela.Now, the US State Department is involved.“Secretary of State Antony J. Blinken spoke with Guyanese President Dr. Mohamed Irfaan Ali to reaffirm the United States’ unwavering support for Guyana’s sovereignty,” said the State Department in a late Wednesday news release.Department spokesman Matthew Miller also told reporters that the Biden administration supports a peaceful resolution.A member of the Venezuelan National Assembly holds a map showing the Esequibo region as part of Venezuela this week. (Leonardo Fernandez Viloria/Reuters)As we noted on Friday – why would Maduro do this now, when Caracas has for more than 200 years claimed rights over Esequibo, a vast swath of the territory Guyana? Simple: because as we said several days ago, it was only a few months ago that Maduro realized he has leverage over the US president of the “most powerful nation in the world” and get away with anything… even invading a sovereign nation.Venezuela has long claimed the 61,000-square-mile region. Guyana has repeatedly rejected those claims, saying an 1899 international arbitration resolved the dispute. Venezuela has in turn questioned the validity of that ruling. Just last week, the International Court of Justice urged both sides to refrain from “any action which might aggravate or extend the dispute.” –WaPoAs Austin Bay writes at The Epoch Times, the region has a legacy of overlapping claims.Spain claimed the Essequibo region was within the borders of Venezuela, but Great Britain and the Netherlands disputed that. Guyana was a British colony. In 1899 an arbitration tribunal in Paris, with the U.S. mediating, ruled that the region belonged to Britain.Maduro portrays himself as a warrior seeking to right great historical wrongs. Well, playing drama king is easier than fixing a broken economy.Maduro may be toying with a replay of 1982 when another shaky dictator thought a foreign war to distract his citizens was a dandy idea. The shaky dictator was Argentina’s Gen. Leopoldo Galtieri who proceeded to invade the Falkland Islands (Las Malvinas). He bet seizing the islands from the British “imperialists”—“recovering” them Galtieri called it—would unite Argentinians.Britain, led by Margaret Thatcher, counterattacked, Argentina lost, and Galtieri’s regime collapsed.All bark, no bite?Interestingly, oil is nonplussed by the recent moves. Maybe because Venezuela won’t be able to occupy the “new state?”As WaPo further notes;For now, Maduro’s rhetoric remains largely symbolic and political bluster. But his remarks have unsettled Guyana’s leader and attracted stern statements from the United States and Brazil urging Venezuela to refrain from using military force to enforce its territorial claim.Guyanese President Irfaan Ali said in a CNN interview this week that Maduro’s declaration was a “desperate attempt by Venezuela to seize” his country’s territories. “We are taking every precautionary measure,” he said, including appeals to the United States, Brazil and the United Nations for diplomatic and defense support to deter a Venezuelan invasion. -WaPoExxon Mobil CEO Darren Woods was similarly nonplussed. In a Thursday CNBC interview, he suggested that Maduro is going to have a fight on his hands.“There’s concern that Venezuela is going to invade a certain part of the country,” said host David Faber.”I’d put it in the context of what’s been happening for many, many years,” Woods responded. “It is a matter between nation states… I’m not sure Guyana is standing on its own, to tell you the truth. We’ve all seen what happens when nations’ sovereignties are challenged, and uniliteral action is taken. The world and the outside community is pretty sensitive to that, so my expectation is that there is more broad support in the international community to make sure that the right processes are followed to resolve this dispute.”Neighboring Brazil, meanwhile, has reinforced its northern border in the state of Roraima, adding armored vehicles and more troops, according to Reuters.

END

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

EURO VS USA DOLLAR: 1.0767 UP 0.0004

USA/ YEN 145.03 DOWN 2.147 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2564 UP .0007

USA/CAN DOLLAR: 1.3605 UP .0014 (CDN DOLLAR DOWN 14 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 2.73 PTS OR 0.09%

Hang Seng CLOSED DOWN 117.37 PTS OR 0.71%

AUSTRALIA CLOSED DOWN 0.03% // EUROPEAN BOURSE: ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL RED

2/ CHINESE BOURSES / :Hang SENG DOWN 117.37 PTS OR 0.71%

/SHANGHAI CLOSED DOWN 2.73 PTS OR 0.09%

AUSTRALIA BOURSE CLOSED DOWN 0.03%

(Nikkei (Japan) CLOSED DOWN 487.59 PTS OR 1.76%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2032.05

silver:$23.89

USA dollar index early THURSDAY morning: 103.93 DOWN 18 BASIS POINTS FROM WEDNESDAY’s CLOSE.

THURSDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing THURSDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 2.975% UP 12 in basis point(s) yield

JAPANESE BOND YIELD: +0.748% UP 12 AND 2//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.209 DOWN 2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.955 DOWN 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2025 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY

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

Euro/USA 1.0783 UP 0.0018 or 18 basis points

USA/Japan: 144.06 DOWN 3.12 OR YEN UP 312 basis points/

Great Britain/USA 1.2572 UP 0.0019 OR 19 BASIS POINTS //

Canadian dollar DOWN .0014 OR 14 BASIS pts to 1.3604

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.1529

THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1608)

TURKISH LIRA: 28.94 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.748…VERY DANGEROUS

Your closing 10 yr US bond yield UP 3 in basis points from TUESDAY at 4.149% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.267 UP 4 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.593 DOWN 0 BASIS PTS.

Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY: 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 69.92 12: EST

Brent Oil: 74.49 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 92.55; ROUBLE UP 0 AND 57//100

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

UK 10 YR YIELD: 4.014 UP 2 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0794 UP 0.0029 OR 29 BASIS POINTS

British Pound: 1.2587 UP .0030 or 30 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.000% UP 0 BASIS PTS//

JAPAN 10 YR YIELD: 0.751%

USA dollar vs Japanese Yen: 143.77 DOWN 3.398 //YEN UP 340 BASIS PTS//

USA dollar vs Canadian dollar: 1.3599 UP 0.0007 CDN dollar DOWN 7 basis pts)

West Texas intermediate oil: 69.68

Brent OIL: 74,40

USA 10 yr bond yield UP 2 BASIS pts to 4.142%

USA 30 yr bond yield UP 4 BASIS PTS to 4.261%

USA 2 YR BOND: DOWN 2 PTS AT 4.588 %

USA dollar index: 103.57 DOWN 53 BASIS POINTS

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

USA DOLLAR VS RUSSIA//// ROUBLE: 92.10 UP 0 AND 72/100 roubles

GOLD 2029.10 3:30 PM

SILVER: 23.78 3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 62.95 PTS OR 0.17%

NASDAQ DOWN 234,44 PTS OR 1.48%

VOLATILITY INDEX: 13.09 UP .11 PTS (.85)%

GLD: $188.15 UP 0.31 OR 0.17%

SLV/ $21.79 DOWN .14 OR 0.64%

end

USA AFFAIRS

USA TRADING IN GRAPH FORM

‘Japanic Attack’: Dollar Dumps On Yen Strength, Big-Techs Rip Ahead Of Buyback Blackout

THURSDAY, DEC 07, 2023 – 04:00 PM

For a change, the big moves were in FX-land today… and oh my, the irony that Japan would spark the market chaos on this ‘infamous day’.

USDJPY dumped overnight after shockingly hawkish comments from BoJ officials hinting at the end of NIRP. That tumble then morphed into a flash crash as it broke 144 (instantly slammed to a 141 handle)…

Source: Bloomberg

…but despite the bounce back, it was still an ugly day and USDJPY broke its 2023 trendline (inverted to show JPY strength upwards in chart)…

Source: Bloomberg

At the same time, Swissy stormed to new highs (before the Japanic hit the dollar). But overall, the franc has been a one-way train against its European peers for decades…

Source: Bloomberg

All of which meant the dollar was clubbed (lower) like a baby seal (biggest intraday drop in three weeks)…

Source: Bloomberg

Magnificent 7 stocks soared higher today (after 5 down-days in the last 6), thanks in large part to GOOGL’s biggest daily gain since July (on another AI chatbot). This surge also comes ahead of tomorrow’s start of the buyback blackout window…

Source: Bloomberg

That surge smashed Nasdaq and S&P higher (but all the majors ended green). The S&P and Dow snapped a three-day losing streak…

Interestingly, this is the first day in December that “AI-favored” names have outperformed “AI-at-risk” names…

Source: Bloomberg

But, Anti-Obesity drug names have been December’s losers as ‘Pro-Obesity’ stocks (not sure if that’s the best way to describe them) have rallied…

Source: Bloomberg

VIX was marginally higher ahead of tomorrow’s payrolls data (despite stocks being up) but it was 0-DTE Vol that did the usual spike above ‘VIX’ ahead of an event…

Source: Bloomberg

Treasuries were mixed today with the short-end outperforming (2Y -1bp, 30Y +4bps). 2Y yields remain the only part of the curve higher on the week with 30Y yields down around 15bps…

Source: Bloomberg

Ethereum outperformed Bitcoin (for a change) today (hitting $2350 – highest since May 2022)…

Source: Bloomberg

This pushed ETH total market cap above that of Adobe and Chevron…

…with the ETH/BTC cross bouncing off serious support…

Source: Bloomberg

Gold continued to tread water in a tight range (despite the dollar dump), with spot prices still holding above $2020…

Source: Bloomberg

After 5 straight days lower, oil prices managed a gain today (albeit very marginal) as WTI desperately trying to hold on to $70 handle…

Source: Bloomberg

Finally, some good news… maybe? Mortgage rates have plunged for a sixth straight week, now at their lowest level since August…

Source: Bloomberg

Time for another home-buying-panic?

But the divergence between stocks, commodities, and macro continues to widen…

Source: Bloomberg

Who will be right on ‘growth’?

END

TUCKER CARLSON

II USA DATA

Jobless claims inch up to 220,000, layoffs still low

Dec. 7, 2023 at 8:34 a.m. ET

MarketWatch

Businesses aren’t hiring as many workers

The numbers: The number of Americans who applied for unemployment benefits last week was barely changed at 220,000, indicating that layoffs remain extremely low even as businesses cut back on hiring.

New jobless claims inched up to 220,000 from a revised 219,000 in the prior week, the government said Thursday. Economists had forecast new claims in the week ending Dec. 2 to total 222,000.

Layoffs are still historically low, but other reports show that businesses are hiring fewer people.

Key details: New jobless claims rose in 49 states and territories that report these figures to the federal government. They only fell in four states.

The increase in most states was likely exaggerated by the Thanksgiving holiday. Lots of people who just lost their jobs tend to wait until the following week to apply for benefits.

The effects of Thanksgiving also appeared to be evident in the number of actual claims — that is, before seasonal adjustments. They jumped by almost 94,000 to 293,511 to mark the highest level since January.

Just a week before, however, actual claims had totaled less than 200,000.

If the last two weeks are averaged together, actual jobless claims appeared to be in line with the recent trend.

The number of people collecting unemployment benefits in the U.S., meanwhile, fell by 64,000 to 1.86 million. Still, a gradual rise in these so-called continuing claims is a sign it’s taking longer for people to find new jobs.

jobless claims tend to gyrate sharply around the holiday season because of temporary hiring and should be judged with caution, economists say.

Big picture: Higher interest rates orchestrated by the Federal Reserve to tame inflation finally appear to have slowed the economy and dampened the demand for labor. Job openings have steadily declined and businesses aren’t adding as many workers

Companies aren’t cutting many jobs and laying off workers, though. The economy is likely to avoid trouble so long as most people are working and unemployment stays low.

Looking ahead: “We think the claims data, along with other recent labor market statistics, are consistent with a job market that is cooling enough to rule out further rate hikes,” lead U.S. economist Nancy Vanden Houten of Oxford Economics wrote in a note to clients.

-END-

III USA ECONOMIC COMMENTARIES

Senate Republicans Block Biden Ukraine Aid Despite Warning Over ‘Direct Conflict With Russia’

WEDNESDAY, DEC 06, 2023 – 06:10 PM

Update (1810ET): Nope…

On Wednesday President Joe Biden suggested that if Congress doesn’t send Ukraine more money, now, it may ’embolden’ Russian President Vladimir Putin to invade a NATO ally, which would precipitate “American troops fighting Russian troops.”

The threat was not persuasive.

In response, Senate Republicans channeled Elon Musk (G…F…Y…), blocking Biden’s $111 emergency supplemental package that would also include aid for Israel, humanitarian aid for Gaza, and a smattering of border funding.

The Senate voted 49-51, failing to reach the 60-vote threshold required to allow the proposal to come up for consideration. Notably, Bernie Sanders (I-VT) voted against the measure, while Senate Majority Leader Chuck Schumer (D-NY) flipped his vote to ‘no’ to preserve the option of revisiting the bill at a later date.

* * *

President Joe Biden has raised the possibility of “American troops fighting Russian troops” in a speech urging Congress to put aside “petty, partisan, angry politics” which is holding up his multibillion-dollar aid package for Ukraine. He said that he’s willing to make “significant compromises” with Republicans but that it’s they who’ve been unwilling to back down from their “extreme” demands.

“This cannot wait,” Biden stressed in the televised remarks from the White House. “Congress needs to pass supplemental funding for Ukraine before they break for the holiday recess. Simple as that. Frankly, I think it’s stunning that we’ve gotten to this point in the first place. Republicans in Congress are willing to give Putin the greatest gift he can hope for and abandon our global leadership.”

“I’m willing to make significant compromises on the border. We need to fix the broken border system. It is broken. And thus far I’ve gotten no response,” Biden pleaded. He made the speech after speaking with G7 leaders, who are reportedly alarmed that US funding to Ukraine is set to run dry in a mere three weeks.

“If we walk away, how many of our European friends are going to continue to fund and at what rates are they going to continue to fund?” he posed.

And that’s when the fear-mongering really kicked into overdrive. He went so far as to say that if Ukraine’s defense isn’t funded, this will lead to the country being steamrolled by the Russian military machine, and an emboldened Putin will then seek to gobble up more territory. Here’s what the US president said, as reported in The New York Times:

The president even raised the prospect that an emboldened Mr. Putin would pose a threat to NATO allies, requiring the United States to come to their assistance with troops on the group. “If Putin takes Ukraine, he won’t stop there,” Mr. Biden said. “It’s important to see the long run here. He’s going to keep going. He’s made their pretty clear.”

“If he keeps going and then he attacks a NATO ally” to which the United States is bound by treaty to help, “then we’ll have something that we don’t seek and that we don’t have today — American troops fighting Russian troops,” Mr. Biden said.

“Make no mistake,” he added. “Today’s vote is going to be long remembered and history’s going to judge harshly those who turn their back on freedom’s cause. We can’t let Putin win. I’ll say it again, we can’t let Putin win.”

Of course, this shaky “logic” is the opposite of reality. It is the nearly two years of ‘blank check’ spending which has only served to ever-deepen American military involvement in the war, and this is what has gotten Washington into yet another foreign quagmire.

The soon to emerge narrative will also inevitably be that these hold-out Republicans “lost” the Ukraine war, as Biden’s Treasury Secretary Janet Yellen has already been saying. The MSM will also help the administration float this as a key 2024 election talking point… wait for it to be on an endless CNN/NPR loop headed into next November.

end

Good for them!!

(Matt Taibbi)

Sue The Bastards: Taibbi’s Take On Federalist, Daily Wire Vs. The US State Department

THURSDAY, DEC 07, 2023 – 07:20 AM

Authored by Matt Taibbi via Racket News,

In late October, the liberal anti-establishment investigative site Consortium News filed a historic suit against the United States of America and Newsguard Industries, describing a state-funded effort to label, defame, and stigmatize “media organizations that oppose or dissent from American foreign and defense policy.”

Now, a pair of conservative media outlets, The Federalist and The Daily Wire, have filed a bookend suit to match the Consortium News action. This time the defendant is the Global Engagement Center, the State Department organization ostensibly dedicated to countering “foreign state and non-state propaganda.” Much as Consortium News alleged the Pentagon funded Newsguard to censor its critics, the Federalist/Daily Wire action alleges the State Department sponsored Newsguard and the U.K.-based Global Disinformation Index as “censorship enterprises” targeting domestic speech, in direct violation of its charter.

Although the 1947 Smith-Mundt Act barring agencies like the State Department from engaging in propaganda at home was “modernized” through legislation passed in 2012, the broad ban on intelligence or diplomatic services meddling in the domestic news landscapes remains. Even the “modernized” Smith-Mundt Act declares bluntly that no State Department funds shall be “used to influence public opinion in the United States.” Additionally, as the Federalist/Daily Wire action cites, the law governing State Department conduct, 22 U.S. Code § 2656, says unequivocally that its mandate is limited to “matters respecting foreign affairs.” For the State Department to fund organizations that up and down-rank domestic media organizations is a ludicrously obvious no-no.

“The State Department’s mandate to administer foreign affairs is clear, making its role in the censorship scheme doubly unlawful,” says Margot Cleveland, serving here as the New Civil Liberties Alliance attorney representing The Federalist and The Daily Wire.

What is the alleged “censorship scheme”? The suit outlines a number of issues, but the most damaging appears to involve the use of GEC as a mechanism to funnel money to various censorship-by-proxy organizations. One of those groups is NewsGuard, which in a recent press release said a goal of its subscription-based “credibility assessment” services is to “systemically defund sources of harmful misinformation.”

NewsGuard in a presentation of its Library Partnership to the Alaska Department of Education explained in the unabashed dystopian style these organizations are becoming known for that “We are also licensing our White List of legitimate news sites to advertisers, which will cut off revenues to fake news sites”:

I reached out to NewsGuard about this passage. If the company licenses a “whitelist” of “legitimate” sites with the express goal of cutting off “revenues to fake news sites,” aren’t they effectively engaged in a blacklisting service whose real aim is to target what it considers illegitimate sites? Is there any reason, I asked, that this service should not be described as blacklisting? The company hasn’t responded, as yet.

GDI, meanwhile, says one of its goals is to “defund disinformation” and uses what it seriously calls a Dynamic Exclusion List — the most badly creepy euphemism since the Obama administration dubbed its “kill list” the “Disposition Matrix” — to bleed news outlets deemed “morally reprehensible” or lacking “redeeming social value” of ad revenue. The company also drew up lists of “least risky” and “riskiest” news outlets that seem to contradict its stance that it does not target “information about which reasonable parties may agree, such as varying political views.” Notice any patterns below?

Highlighted above are both the plaintiffs in this case and unusual entries on the “least risky” side. Now-dead Buzzfeed blazed real trails in disinformation by publishing the Steele Dossier, which it knew was not only “unverified,” but “contains errors.” Meanwhile there are interstate gas stations whose lavatory wall writings are more reliable than HuffPost, which for years now has been jumping on obvious fake news tales like the pee tape with the enthusiasm of a dog humping a leg:

The oldest-in-America New York Post, which published a correct Hunter Biden laptop expose by Miranda Devine, was deemed riskiest according to GDI. Meanwhile, papers that published the absolutely bogus lie that the report that the “alleged” laptop was “possible” Russian disinformation, or even had to publish corrections on that score, were put on safe island. Here for instance is an NPR fine-print oopsie:

NPR is also racking up a fairly extensive record of reports relaying official statements later proven incorrect, like that all 13 of the Ukrainian soldiers on Snake Island were killed or that “breakthrough infections might not be a big transmission risk.” I asked GDI if it only counted non-official errors when it computed its reliability scores. They too have yet to comment.

All news organizations get things wrong, but it’s beyond obvious now that organizations like NewsGuard and GDI are measuring something that has far more to do with where the outlets are oriented in relation to official narratives, than with factuality or reliability. This is why lawsuits by outlets with virtually opposite politics, like Consortium News and The Federalist, can be so strikingly similar in substance. The propaganda/anti-propaganda distinction is most crucial in both cases, and only secondarily is partisan politics a consideration, although it’s clearly more of an issue in this suit.

Moreover, it’s conspicuous that GDI targets popular-but-dissenting organizations like Reason and The New York Post. While the State Department has a massive budget for domestic propaganda operations (the #CTIFiles described $250 million for the year 2020), there’s a reason they’re not simply pouring more money into Voice of America or its “fact-checking website” Polygraph and trying to reach people that way.

That wouldn’t work, due to the increasingly obvious fact that government propaganda efforts are not trusted. Worse, traditional legacy organizations like The New York Times and the Washington Post are seen now as transparent vehicles for official propaganda, which is leading to significant loss of trust for them. The only way to correct that is to err less often, but since that doesn’t appear to be an option, NewsGuard and GDI and organizations like them are needed to correct the “mistake” of the media market. We can’t have people simply choosing what to read organically, can we? No matter how big a bullhorn you give the State Department or the Pentagon, they still need forms of censorship just to compete.

A last note, and a word of encouragement to reporters everywhere. The Daily Wire/Federalist suit would likely not have been possible had Gabe Kaminsky of the Washington Examiner not done such excellent investigative work on GDI in his “Disinformation Inc.” series. Kaminsky said he was “thrilled” to have an impact, and Cleveland generously credited the work. This is proof that if journalists work at cranking out true material, someone will put it to use.

“Gabe Kaminsky’s reporting at the Washington Examiner exposed the underbelly of the State Department’s role in the whole-of-government censorship scheme,” Cleveland said. “Without Gabe’s reporting, The Daily Wire and The Federalist may never have known GDI targets their speech, and the country may never have known State Department’s role.”

In a related observation, it’s a little odd that breakthrough investigative reporting is needed to expose public programs like this. The GEC doesn’t publish even a fraction of its contracting award details, and even an Inspector General report about agency abuses stunningly left all but 3 of 39 GEC contractor names redacted.

Another IG report disclosed the on-the-nose detail that GEC lacked internal controls to “ensure contractors did not perform inherently governmental functions,” which is great, but the public shouldn’t need deep sourcing and/or IG reports to see basic budgeting information, like which agencies are being paid how much, and for what, by the State Department.

That this is necessary speaks to something inherently malodorous about these efforts, and is a reason we should all be looking forward to the discovery process in this case, and in the Consortium News proceedings. These suits are for all of us, and we all have an interest in how they turn out.

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Regular news and features by award-winning author and investigative reporter, Matt Taibbi.

end

Biden drops Bidenomics.

(Mish Shedlock)

Biden Drops The Term Bidenomics, Republicans Would Be Wise To Use It Instead

THURSDAY, DEC 07, 2023 – 12:25 PM

By Mish Shedlock of MishTalk

Biden has used the word 101 times since June, but he has made no mention of it for almost a full month.

Polls show people have little faith in Biden, especially regarding the economy. Nonetheless, Biden endlessly promoted Bidenomics for months.

That quietly ended a month ago and NBC figured it out.

NBC reports ‘Bidenomics’ is Nowhere to be Found in the President’s Recent Speeches.

Since June, President Joe Biden had been freely peppering the word “Bidenomics” into his speeches and remarks mentioning the economy — 101 times, to be exact.

In doing so, he was attaching his name to a set of administration policies that most Americans don’t believe have worked, according to recent polling. In an NBC News poll conducted this month, only 38% of respondents approved of Biden’s handling of the economy.

Now, the word “Bidenomics” appears to have been dropped entirely from Biden’s comments about the economy. He hasn’t used it in public remarks since Nov. 1, when he likened Bidenomics to “the American Dream” in a speech in Minnesota.

“Bidenomics” branding, however, hasn’t disappeared from the White House and the president’s re-election campaign. Wednesday’s event in Colorado was billed as a way to “highlight how Bidenomics is driving record investments in Congresswoman Lauren Boebert’s district,” according to a White House release.

The White House YouTube page similarly labeled Biden’s speech Wednesday as “remarks on Bidenomics.” The word was also plastered around the president’s podium for his remarks in Colorado.

The absence of the word in Biden’s speeches comes as some Democratic strategists and Biden allies have criticized the branding.

The White House has also used the word to contrast the president’s policies to “MAGAnomics,” a term Biden has used to describe the Republican economic agenda.

“The country should know the facts. They should know the choice between Bidenomics and MAGAnomics,” Biden said in a Sept. 14 speech.

He has also tied Bidenomics to the American dream — doing so twice in his Nov. 1 remarks. “Folks, Bidenomics is just another way of saying the American Dream,” Biden said that day.

Losing Faith in Bidenomics

It seems that Biden has lost faith in Bidenomics, but his staff hasn’t. The public had no faith to begin with.

“You say you lost your faith, but that’s not where it’s at
You had no faith to lose and you know it“

In case you don’t recognize those lines, they are from Positively 4th Street, written many decades ago by Bod Dylan.

Making the move away from citing Bidenomics could be a positive sign for the president’s re-election campaign, presidential historian Douglas Brinkley said.

“Because ‘Reaganomics’ seemed to have taken hold, it made some sense to shop ‘Bidenomics.’ But it fell flat. It’s a little bit like Gerald Ford’s ‘Whip Inflation Now’ buttons.

Nobody wants to be waving banners that say, ‘I love Bidenomics,’” Brinkley said.

Indeed. And that’s precisely why Republicans ought to pick up where Biden left off.

Five Alarm Bell – Biden Trails Trump in Five of Six Battleground States

On November 5, I commented Five Alarm Bell – Biden Trails Trump in Five of Six Battleground States

That’s about the time Biden stopped bragging about Bidenomics. Numerous polls since show the same thing.

But if Biden is wise to stop mentioning Bidenomics, Republicans should consider using it more often.

The Choice Is Between Two Devils

Trump is not remotely close to being a Libertarian and neither is remotely close to being a moderate. However, voters have decided that between Trump and Biden, Trump looks better in comparison. The devil we had is better than the devil we got. You might disagree, but that is what many polls now show.

END

Did ObamaCare ‘Work’?

THURSDAY, DEC 07, 2023 – 01:45 PM

Via Political Calculations blog,

The Affordable Care Act was signed into law in 2010. It was slowly implemented, going into full effect in 2014. One of the main goals of the law was to make health insurance more affordable for Americans, but has it worked?

One way to answer that question is to see how much Americans are paying for health insurance since the ACA became law and to compare that how much American households would otherwise have paid if the preceding trend for health insurance costs remained in place.

We can make comparison using data from the U.S. Census Bureau’s annual Consumer Expenditure (CEX) Survey. The CEX has reported how much an average “consumer unit”, which roughly corresponds to an American household, has paid for health insurance in each year from 1984 through 2022. It compares those data points with the trend based on the actual expenditures for health insurance from 2000 through 2010. Here’s the chart:

Compared to the pre-Affordable Care Act trend from 2000 through 2010, Americans household consumers paid 35% more on average for health insurance in 2022 than they would otherwise have paid based on the trend for these costs from 2000 through 2010.

How does that compare with the household consumers’ other major health care expenditures? The chart is adapted from an older version and narrows in on the period from 2008 through 2022 to track the change in the average expenditures per American consumer unit for several health care expenditure categories. These categories include health insurance, medical services, drugs, and medical supplies.

Through 2022, what American household consumers pay for drugs and medical supplies has changed very little, with medical supplies within $95 and drugs within $133 of their cost in 2008.

Expenditures for medical services has seen more growth over time. In 2013, the year before the Affordable Care Act took full effect, Americans paid just $69 more for medical services than they did in 2008. By 2019, that increased to $257, which then dipped to $137 in the pandemic year of 2020. What American consumer households pay for medical services has risen rapidly since, as of 2022 they reached $457 more than they paid in 2008.

But what Americans pay for health insurance has relentlessly risen in all but one year (2017). In 2013, just before the Affordable Care Act became fully operational, Americans paid $576 more for health insurance than they did in 2008. That jumpd immediately to $1,215 in 2014, and has since risen to be $2,190 more than what American consumer units paid for health insurance in 2008.

2022 is the most recent year for which we have figures available. The Census Bureau will collect the data for 2023 in March 2024 and will crunch the numbers for several months before reporting it all sometime in September 2024.

[ZH:… thanks Barack! Mission Accomplished?]

END

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ANTISEMITISM

“Let Me Be Clear”: Harvard Backpedals After Donors Slam ‘Insane’ Protections For Pro-Genocide Students

WEDNESDAY, DEC 06, 2023 – 06:40 PM

Harvard University has issued a statement on Wednesday in a furious attempt at damage control, after President Claudine Gay refused to condemn students calling for the genocide of Jews.

During Tuesday testimony in front of the US House Education and the Workforce Committee, Rep. Elise Stefanik (R-NY), a Harvard grad, asked the presidents of Harvard, Penn, and MIT whether “calling for the genocide of Jews” violates their schools’ code of conduct or constitutes bullying or harassment, referring to calls for “intifada” chanted during several school protests.

In response, MIT President Sally Kornbluth said that they would be “investigated as harassment if pervasive and severe,” while Penn’s Liz Magill said “it is a context-dependent decision” that could be considered harassment “if the speech becomes conduct.”

Harvard’s Gay echoed Magill, saying that it depends on context, such as being “targeted at an individual.”

Major donors rage

In response to the comments, activist investor and Harvard alum Bill Ackman said “They must all resign in disgrace,” adding “if a CEO of one of our companies gave a similar answer, he or she would be toast within the hour.”

“There’s certain speech that is certainly permissible under the First Amendment,” Ackman later told The David Rubenstein Show on Bloomberg TV. “People can be critical of Israel, the Israeli government. But, sadly, there are kids who have been spat on or been roughed up, or have been harassed, or antisemitic statements have been put on Slack message boards on campus.”

Billionaire Dan Loeb also weighed in – saying in reply to Ackman: “The cowardly and unprincipled responses show them each to be unfit to lead.”

Meanwhile, Penn alumnus and founder of AQR Capital Management Clif Asness said “I wish I could quit giving twice,” in a post on X, adding “This is just insane. Insane.”

“Let me be clear”

In response to the outrage, Gay said that “There are some who have confused a right to free expression with the idea that Harvard will condone calls for violence against Jewish students,” adding “Let me be clear (as if it’s our fault for understanding her galaxy brain statements on Tuesday): Calls for violence or genocide against the Jewish community, or any religious or ethnic group are vile, they have no place at Harvard, and those who threaten our Jewish students will be held to account.”

Why not just say that during testimony, Gay?

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

Dodgy Dick: Top Democrat Won’t Commit To Subpoenaing Jeffrey Epstein Flight Logs

WEDNESDAY, DEC 06, 2023 – 11:00 PM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A powerful Democrat is refusing to commit to issuing a subpoena for more transparent versions of Jeffrey Epstein’s flight logs.U.S. Senate Majority Whip Dick Durbin (D-Ill.) in Washington on April 18, 2023. (Anna Moneymaker/Getty Images)

Sen. Dick Durbin (D-Ill.), the chairman of the Senate Judiciary Committee, declined to tell a reporter or Sen. Marsha Blackburn (R-Tenn.), who wants the subpoena issued, that he would support the effort.

Ms. Blackburn, in late November, tried bringing forth an amendment for a vote that would authorize the subpoena but was blocked by GOP colleagues, who invoked a rule that led to the hearing ending after about two hours.

When Mr. Durbin was asked on Dec. 5 whether he’d issue the subpoena, he demurred.

“I don’t know anything about his flight logs. I know who Epstein was but I certainly don’t know anything about the issue,” he told a Fox News reporter in Washington.

Mr. Durbin also falsely said that the matter “has never been raised by anyone.”

After entering a committee hearing in which members questioned the FBI’s director on various topics, Mr. Durbin told Ms. Blackburn that he was not aware that one of her amendments was a subpoena for Mr. Epstein’s flight logs.

“I do not know anything about this request,” he said.

An aide for Democrats on the Senate Judiciary Committee earlier this month acknowledged that Ms. Blackburn’s attempt to issue the subpoena was blocked during the Nov. 30 committee hearing before noting that Republicans, led by Ranking Member Sen. Lindsey Graham (R-S.C.) invoked a rule that ended discussion on amendments for the subpoenas that were ultimately approved for a billionaire and conservative activist linked to Supreme Court justices.

Mr. Graham’s office did not respond to a request for comment.

Mr. Durbin “falsely claimed he was not aware of Senator Marsha Blackburn’s amendment to subpoena Jeffrey Epstein’s flight logs,” Ms. Blackburn’s office said in a statement.

Ms. Blackburn was prevented from speaking in the November hearing by Republicans after Mr. Durbin asked her to kick off the amendment process. But in an earlier hearing in November, she said she’d filed for a subpoena for Mr. Epstein’s flight logs.

“Given the numerous allegations of human trafficking and abuse surrounding Mr. Epstein, we’ve got to identify everyone who could have participated in his horrific conduct,” she said at the time.

Ms. Blackburn blamed Mr. Durbin and other Democrats for there not being a vote yet on the proposal.

“It’s perplexing why Chairman Durbin blocked Senator Blackburn’s amendment request to subpoena Jeffrey Epstein’s estate,” a spokesperson for Ms. Blackburn told The Epoch Times via email.

“I think you are fully aware that I had two amendments, one dealing with Epstein,” Ms. Blackburn said on Tuesday. Mr. Durbin said he was not aware. “I brought it up previously,” Ms. Blackburn said. Mr. Durbin said she did not.

The subpoena “should be at the top of this committee’s to-do list,” she also said.

A request for comment to a spokesperson for Mr. Durbin was not returned.

“I did not know that you offered that amendment. I want a point on the record you and I have never personally discussed this, have we?” Mr. Durbin said.

Ms. Blackburn said they spoke briefly after the abrupt end to the late November hearing.

“You never mentioned what subject matter your amendment was,” Mr. Durbin said.

“In committee, I brought up the subject matter of my amendment three weeks prior,” Ms. Blackburn said.

“Not in my presence,” Mr. Durbin said.

“I will pull the transcript for you,” Ms. Blackburn said.Then-President Bill Clinton welcomes Jeffrey Epstein and Ghislaine Maxwell to the White House in a 1993 file image. (William J. Clinton Presidential Library)

FBI Director Questioned

Ms. Blackburn also told Christopher Wray, the FBI’s director, that she wanted more information from the bureau regarding Mr. Epstein, a convicted sex offender who died in prison while awaiting trial on sex trafficking charges.

“There are disturbing allegations that the FBI failed to investigate the sex trafficking allegations,” Ms. Blackburn said, noting that one woman who said she was sexually abused by Mr. Epstein has said she took evidence to the FBI, but the bureau refused to investigate.

Mr. Wray said the FBI worked together with prosecutors to bring the sex trafficking charges and that it has been a while since he looked at the case.

“What we need from you is a complete investigation. Why the FBI did not take this on, and then getting to the bottom of what is an enormous sex trafficking ring and listening to the survivors,” Ms. Blackburn said.

While the flight logs have been released before, that version was heavily redacted. Ms. Blackburn wondered whether a more transparent version could be released.

“Let me offer to get with my team and figure out if there is more information we can provide,” Mr. Wray said.

The FBI’s national press office told The Epoch Times in an email on Dec. 6 that it did not have anything to add, after being asked what Mr. Wray and his team had figured out.

RFK Jr. on Flights

Some of the most powerful people in the world flew on Mr. Epstein’s private plane, according to the logs and witness testimony, including former President Bill Clinton and former Senate Majority Leader George Mitchell.

Robert F. Kennedy Jr., who is running as an independent in the 2024 race, said this week he was on the plane twice.

Mr. Kennedy said on Fox that his now-former wife had “some kind of relationship with Ghislaine Maxwell,” an associate of Mr. Epstein who has been convicted of sex trafficking of minors.

Mr. Kennedy said one of the flights took place in 1993 and that he flew to Florida with his wife and some of his children.

“I went then, and another occasion, I flew again with my family with, I think, four of my children,” Mr. Kennedy said. “I have been very open about this from the beginning. This was in ’93, so it was 30 years ago. It was before anybody knew about Jeffrey Epstein’s, you know nefarious issues. And I agree with you that all of this information should be released. We should get real answers on what happened to Jeffrey Epstein and any of the high-level political people that he was involved with. All of that should be open to the public

END

Hunter Biden Threatened With Contempt Of Congress If He Bails On Testimony

WEDNESDAY, DEC 06, 2023 – 09:20 PM

Hunter Biden will be slapped with contempt of congress if he skips out on his Dec. 13 closed-door deposition, according to a Wednesday letter from House Oversight Committee Chairman James Comer and House Judiciary Committee Chairman Jim Jordan to Hunter’s defense attorney, Abbe D. Lowell.

“Contrary to the assertions in your letter, there is no ‘choice’ for Mr. Biden to make; the subpoenas compel him to appear for a deposition on December 13. If Mr. Biden does not appear for his deposition on December 13, 2023, the Committees will initiate contempt of Congress proceedings,” reads the letter, issued a week after Lowell suggested that Hunter should instead be allowed to testify publicly.

Hunter was subpoenaed on Nov. 8 to appear for a deposition before the committee. In response, Comer said: “Hunter Biden is trying to play by his own rules instead of following the rules required of everyone else,” adding “Our lawfully issued subpoena to Hunter Biden requires him to appear for a deposition on December 13.”

Comer and Jordan are investigating extensive evidence that the Biden family was running an international influence peddling scheme, raking in tens of millions of dollars from foreign business partners despite no obvious product or service in exchange.

House lawmakers are also seeking testimony from Hunter’s uncle James Biden, as well as multiple former business associates.

end

“$24 Million From Foreign Nationals”: House GOP Formalizes Biden Impeachment Inquiry, Releases Resolution Ahead Of Planned Vote

THURSDAY, DEC 07, 2023 – 12:05 PM

Ahead of next week’s vote to formally move forward with the Biden impeachment inquiry, Rep. Kelly Armstrong (R-ND) has released a 14-page resolution that would authorize the investigation.

“Directing certain committees to continue their ongoing investigations as part of the existing House of Representatives inquiry into whether sufficient grounds exist for the House of Representatives to exercise its Constitutional power to impeach Joseph Biden, President of the United States of America, and for other purposes,” reads the resolution, which is set for markup on Tuesday, Dec. 12, putting it on course for a Wednesday vote.

“It’s time for the House to take the next step in the Biden impeachment investigation and adopt an impeachment inquiry resolution. The White House and multiple witnesses have repeatedly refused to cooperate with the investigation and have rejected subpoenas. Despite this refusal, the investigation has uncovered alarming details that demand further scrutiny,” said Armstrong in a statement.

“The Biden family and associates received more than $24 million from foreign nationals. Joe Biden received $200,000 from his brother, James Biden, the same day James received a $200,000 loan from a failing rural hospital operator. Joe Biden also received $40,000 in laundered Chinese money from his brother and sister-in-law. It’s become clear that the Biden family sold influence around the world using Joe Biden’s name as the product. An investigation in any jurisdiction around the country would move forward if it had these facts. A vote on an impeachment inquiry puts the House in the best position to prevail in court and uncover the truth,” Armstrong continued.

The White House has argued that the GOP’s ongoing impeachment inquiry is unconstitutional because it hasn’t been formalized with said vote – an assessment that House Judiciary Chairman Jim Jordan vehemently disagreed with.

“Constitutionally, it’s not required. Speaker said we’re [in] an impeachment inquiry, [then] we’re in an impeachment inquiry,” said Jordan. “But if you have a vote of the full House of Representatives and the majority say we’re in that official status as part of our overall oversight work or constitutional oversight duty that we have, it just helps us in court.”

In anticipation of that vote, Democrats and the White House in recent days pointed to previous statements from swing-seat Republicans and moderates casting doubt on whether impeachment is warranted.

They have also pointed to cries from Republicans when Trump’s impeachment began without taking a formal vote.

But many of those same GOP members say that taking the step to authorize an inquiry is a much different question than a vote on actual impeachment articles.

The House’s Judiciary, Oversight, and Ways and Means committees have for months investigated both what they have deemed the Biden family finances and a Justice Department investigation into Hunter Biden’s failure to pay taxes. -The Hill

Remember when Democrats impeached Trump for asking about obvious Biden corruption in Ukraine, and then again for ‘instigating’ the Jan. 6 riot which was riddled with feds?

THE KING REPORT

GREG HUNTER

SEE YOU FRIDAY

Shanghai Gold Benchmark Price

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT: 110 NOTICES FOR 11000 OZ or 0.3421 TONNES

total notices so far: 12,430 contracts for 1,243,000 oz (38.662 tonnes)

FOR DEC:

SILVER NOTICES 112 NOTICE(S) FILED FOR 560,000 OZ/

total number of notices filed so far this month : 2510 for 12,550,000 oz

“This Is Gold’s Day” – Peter Schiff Warns “The Dollar’s Going To Lose A Lot More Value”

Alasdair Macleod: Gold and ‘flying money’

Craig Hemke at Sprott Money: Just another bullion bank intervention

Polish Central Bank Buys Gold According To Secret EU Plan

Introduction

Data Shows EU Central Bank Balance Gold to GDP Ratios

Why Central Banks Harmonize Gold Reserves

Conclusion

Futures Rise, Yen Soars, JGBs Tumble As BOJ Rattles Markets

Stocks down though NQ holds gains; DXY weaker & JPY soars post-Ueda; US IJC due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

‘Dark Gina’ Elicits Blistering Rebuke From China, Which Vows To Circumvent Tech Curbs

Brazilian Hezbollah suspect cased out synagogues in Brasilia, documents show

Police found evidence on Lima’s seized phone “that he had carried out reconnaissance tasks in places for possible attacks against the Jewish community in Brazil.”

What is in the videos?

‘We are all Israelis’: Arab sector leaders watch October 7 horror film

In attendance were heads of local municipal authorities, community leaders, media personalities, journalists, and thought leaders from the Arab community in Israel.

Arabs and Jews going through this together

Biden Tells Israel To Wrap Up War By January As An Estimated 80% Of Gazans Displaced

Hamas launches rockets near Gazan civilian tents, UN facilities – IDF

IDF pushes further into Khan Younis, Jabaliya; 3 soldiers killed in heavy fighting

IDF says Hamas firing rockets at Israel from Gaza humanitarian zones * IDF ground op toll at 87 * WHO director says Gaza health system ‘on its knees’

Police block march of Jewish radicals from entering Old City’s Muslim Quarter as planned

Iran seizes two fuel tankers carrying 4.5 million liters of fuel in Persian Gulf

The report did not state what countries the vessels or the crew were from.

Maritime tensions rise in region amid Houthi attacks

IDF says Hamas firing rockets from Gaza safe zones as civilian scramble for shelter

Military says terror group launched projectiles from next to tents housing civilians; troops push further into Khan Younis, Jabaliya; 3 soldiers killed, taking ground op toll to 87

IDF: Hamas officials keeping Gazans in poverty, suffering

Following the IDF’s invasion, it has been discovered that Hamas has been hoarding wealth away from Gazans living in poverty.

Thousands of dollars in purchases

Footage shows dozens of Gaza men said to have surrendered to IDF; reportedly may be Hamas suspects

IDF says troops probing those left in Jabaliya and Shejaiya for ties to Hamas

IDF says it killed pair of senior Hamas intel official in airstrike this week

Rockets at Civilians…From Behind Civilians

When a humanitarian zone becomes a terrorist’s rocket launchpad

But let’s talk rockets.

This brings us back to Be’er Sheva.

Rockets, Beer Sheva and the 2023 War

Operational Updates

Quote of the Day

GLOBAL VACCINE/COVID ISSUES

Respiratory Illnesses On The Rise Across The US, CDC Warns

Update on Pneumonia Cases

CRIMINAL: The FDA Pulls Key Medications As New China Virus Emerges

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

Had we done NOTHING, nothing, just strongly double & triple down protections of the elderly & high-risk persons, we would have lost far fewer during the fraud 0.05% IFR, PCR driven emergency (never a

pandemic) fraud, all done to topple Trump! NOTHING, keep society & school OPEN fully day one! Instead we got COVID lockdown lunacy collaterol damage, deadly medical management, deadly mRNA shots

If what France is reporting is true as in Medscape UK as to an unusual rise in mycoplasma pneumoniae Respiratory Infections that mirrors China in kids, then we are likely witnessing SYSTEMIC COVID

mRNA technology vaccine-induced immune subversion, suppression (Dr. Hodkinson concurs) likely with immune damage due to lockdowns; evidence of DOXYCYCLINE working to treat

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

Western Academia Is Just As Morally And Intellectually Corrupt As Congress, If Not Worse

Blinken Conveys ‘Unwavering Support’ For Guyana After Venezuela’s Maduro Proclaims “Esequibo Is Ours”, Gives Energy Companies 3 Mos To Exit

‘Japanic Attack’: Dollar Dumps On Yen Strength, Big-Techs Rip Ahead Of Buyback Blackout

Senate Republicans Block Biden Ukraine Aid Despite Warning Over ‘Direct Conflict With Russia’

Sue The Bastards: Taibbi’s Take On Federalist, Daily Wire Vs. The US State Department

Subscribe to Racket News

Biden Drops The Term Bidenomics, Republicans Would Be Wise To Use It Instead

Losing Faith in Bidenomics

Five Alarm Bell – Biden Trails Trump in Five of Six Battleground States

The Choice Is Between Two Devils

Did ObamaCare ‘Work’?

“Let Me Be Clear”: Harvard Backpedals After Donors Slam ‘Insane’ Protections For Pro-Genocide Students

Dodgy Dick: Top Democrat Won’t Commit To Subpoenaing Jeffrey Epstein Flight Logs

FBI Director Questioned

RFK Jr. on Flights

Hunter Biden Threatened With Contempt Of Congress If He Bails On Testimony