GOLD PRICE CLOSED: UP $5.50   TO $2026..00

SILVER PRICE CLOSED: down 9 cents  AT $23.77

Access prices: closes 4: 15 PM

Gold ACCESS CLOSED 2026.50

Silver ACCESS CLOSED: 23.87

DEC 13

Shanghai Gold Benchmark Price

USD  oz  gram  kilo  tola 

AM2030.75

PM2028.26

Historical SGE Fix

SHANGHAI GOLD PREMIUM OVER NY: 52 DOLLARS

Bitcoin morning price:, 41,095  down 300 DOLLARS

Bitcoin: afternoon price: $41,619 UP 224 dollars

Platinum price closing  $951.80 DOWN  $11.10

Palladium price;     $1182.80 UP $70.90

END

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

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

4: 15 PM ACCESS

*CANADIAN GOLD: $2,714.81 UP $16.09 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)

*BRITISH GOLD: 1602.92 UP 10,60 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1855,92 UP 3.12 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)

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EXCHANGE: COMEX CONTRACT: DECEMBER 2023 COMEX 100 GOLD FUTURES SETTLEMENT: 2,021.100000000 USD INTENT DATE: 12/15/2023 DELIVERY DATE: 12/19/2023 FIRM ORG FIRM NAME ISSUED STOPPED ____________________________________________________________________________________________ 190 H BMO CAPITAL 39 365 C MAREX CAPITAL M 20 20 365 H MAREX CAPITAL M 1 435 H SCOTIA CAPITAL 90 657 C MORGAN STANLEY 86 661 C JP MORGAN 25 685 C RJ OBRIEN 1 690 C ABN AMRO 10 737 C ADVANTAGE 53 14 800 C MAREX SPEC 1 905 C ADM 20 ____________________________________________________________________________________________ TOTAL: 190 190 MONTH TO DATE: 13,910JPMorgan stopped 25/190 contracts.

FOR DEC.:

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT:  190 NOTICES FOR 19000 OZ  or  0.5909TONNES

total notices so far: 13,816 contracts for 1,381600  oz (42.97 tonnes)

FOR  DEC:

SILVER NOTICES  2 NOTICE(S) FILED FOR 10,000 OZ/

total number of notices filed so far this month : 2954for 14,770,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD UP $5.50//

INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.73 TONNES OF GOLD FROM THE GLD/

INVENTORY RESTS AT 879.69 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN 9  CENTS  AT  THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A MASSIVE WITHDRAWAL OF 0.794 MILLION OZ FROM THE SLV/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 440.646 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 830 CONTRACTS TO 127,934 AND FURTHER FROM  THE  RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR   $0.21  IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD A SOME LONG LIQUIDATION WITH CONSIDERABLE T.A.S. LIQUIDATION (WITH SOME SHORT COVERING) AT THE COMEX SESSION.  WE HAD A  GOOD 541 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 541CONTRACTS. 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 $0.21),  AND WAS SOMEWHAT SUCCESSFUL IN KNOCKING SOME SILVER LONGS AS WE HAD A GOOD SIZED LOSS OF 734  OI CONTRACTS ON OUR TWO EXCHANGES. 

WE  MUST HAVE HAD:

A GOOD SIZED 300 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1,5 MILLION OZ (FIRST DAY NOTICE)   FOLLOWED BY TODAY’S  45,000 OZ EFPJUMP  TO LONDON + 0 CONTRACTS OF EX. FOR RISK FOR 0 MILLION OZ EX. FOR RISK //NEW TOTAL STANDING 18.030 MILLION OZ.+0 MILLION OZ (EX. FOR RISK TODAY) + 6.5 MILLION EX. FOR RISK/PRIOR= NEW TOTAL OF 24.530 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 24.530 MILLION OZ 

//HUGE SIZED COMEX OI LOSS/ GOOD SIZED EFP ISSUANCE/ VI)   GOOD  SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 541 CONTRACTS)/

0 CONTRACT  EX.FOR RISK =0 MILLION OZ//NEW TOTAL FOR EX. FOR RISK + 6.5 MILLION OZ.

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL – REMOVED 204 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 12 days, total 10,488 contracts:   OR 52.440MILLION OZ  (874CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  52.440MILLION 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. 52.440 MILLION OZ//THIS IS GOING TO BE A STRONG ISSUANCE OF EFP’S FOR THIS MONTH.

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 830  CONTRACTS WITH OUR LOSS  IN PRICE OF  $0.21 IN SILVER PRICING AT THE COMEX//FRIDAY.,.  THE CME NOTIFIED US THAT WE HAD A GOOD EFP ISSUANCE  CONTRACTS: 541  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 45,000 OZ EFP JUMP  TO LONDON /NEW TOTAL STANDING 18.030MILLION OZ//+0 MILLION EX. FOR RISK TODAY + 6.5 MILLION OZ EXCHANGE FOR RISK/PRIOR//NEW TOTAL 24,530MILLION OZ. 

NEW STANDING  24,.530 million OZ   /// WE HAVE A GOOD SIZED LOSS OF 530 OI CONTRACTS ON THE TWO EXCHANGES WITH THE  LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY:  A  GOOD SIZED 541 CONTRACTS//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED   DURING THE FRIDAY  COMEX SESSION.   THE NEW TAS ISSUANCE FRIDAY NIGHT  (541 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 2 NOTICE(S) FILED TODAY FOR 10,0000  OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR  SIZED 2419CONTRACTS  TO 477,506 AND FURTHER FROM RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY:  -removed  116 CONTRACTS

WE HAD A FAIR SIZED DECREASE  IN COMEX OI ( 2419 CONTRACTS) WITH OUR  $8,10 LOSSIN PRICE//FRIDAY. WE ALSO HAD A RATHER LIGHT INITIAL STANDING IN GOLD TONNAGE FOR DEC.. AT 44.914 TONNES ON FIRST DAY NOTICE  FOLLOWED BY TODAY’S 180,000 OZ QUEUE JUMP  + 0 ISSUANCE OF EX. FOR RISK CONTRACTS    // TOTAL GOLD STANDING FOR DEC SO FAR INCREASES TO 48.131 TONNES // ALL OF..THIS HAPPENED WITH OUR $8.10 LOSS IN PRICE  WITH RESPECT TO FRIDAY’S TRADING. WE HAD A FAIR SIZED GAIN  OF 1351 OI CONTRACTS (4.202) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3770 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 477,506

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1351 CONTRACTS  WITH 2419  CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3770 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN ON THE TWO EXCHANGES OF 1351 CONTRACTS. WE HAD 0 CONTRACTS EXCHANGE FOR RISK  TODAYFOR 0.0 TONNES/EX FOR RISK PRIOR = 4.634 TOTAL //NEW TOTAL STANDING 43.486 TONNES + 4.634 TONNES= 48.131 TONNES.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED):  A  GOOD 2465 CONTRACTS. 

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3770CONTRACTS) ACCOMPANYING THE  FAIR SIZED LOSS IN COMEX OI (2303) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1467 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 18,000 OZ QUEUE JUMP  + 4.634 TONNES EX. FOR RISK PRIOR//NEW STANDING 48.131TONNES / / 3) SOME LONG LIQUIDATION AND  CONSIDERABLE TAS LIQUIDATION WITH SOME SHORT LIQUIDATION    4)  FAIR SIZED COMEX OPEN INTEREST LOSS/ 5)    STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6:  GOOD T.A.S.  ISSUANCE: 2465CONTRACTS

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: 50,958 CONTRACTS OR 5,095,800 OZ OR 158.50TONNES IN 12 TRADING DAY(S) AND THUS AVERAGING: 4246  EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAY(S) IN  TONNES  158,50TONNES

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

THUS EFP TRANSFERS REPRESENTS  158,50/3550 x 100% TONNES  3.83% 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. 158,50 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 HUGE SIZED 1034  CONTRACTS OI  TO  127,937 AND CLOSER TO THE 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  300  CONTRACTS

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

MARCH  300  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  300  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 830 CONTRACTS AND ADD TO THE 300  OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD SIZED  LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 530 CONTRACTS

THUS IN OUNCES, THE LOSS  ON THE TWO EXCHANGES  TOTAL 2,65 MILLION OZ 

OCCURRED WITH OUR $.21 loss IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 11,75 PTS OR 0.40%  //Hang Seng CLOSED DOWN162,76 PTS OR 0.97%           /The Nikkei CLOSED DOWN 211.59 PTS OR 0.64% //Australia’s all ordinaries CLOSED DOWN 0.16 %   /Chinese yuan (ONSHORE) closed UP AT 7.1350   /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1365 /Oil UP TO 71.84 dollars per barrel for WTI and BRENT  UP AT 77.18/ Stocks in Europe OPENED ALL RED EXCEPT LONDON// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

a)NORTH KOREA/SOUTH KOREA
outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL  BY A FAIR SIZED  2419 CONTRACTS  TO  477,506 WITH OUR  LOSS IN PRICE OF $8.50 WITH RESPECT TO FRIDAY TRADING. WE MUST HAVE HAD CONSIDERABLE LONG SPEC LIQUIDATIONS IN THE  COMEX SESSION. 

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 3770  EFP CONTRACTS WERE ISSUED: :  FEB 3770 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3770 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1351  CONTRACTS IN THAT 3770 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A  FAIR SIZED LOSS OF 2419 COMEX  CONTRACTS..AND  THIS FAIR GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $8.50//FRIDAY COMEX.  AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT WAS A STRONG SIZED   2465CONTRACTS.  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  (48.131 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. 43.228 + 4.634 TONNES OF EXCHANGE FOR RISK =  47.862TONNES

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $8.50) //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY  SPECULATOR LONGS AS  WE HAD A FAIR SIZED GAIN OF 1351 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A STRONG T.A.S. LIQUIDATION ON THE FRONT END OF FRIDAY’S TRADING .   THE T.A.S. ISSUED ON FRIDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED  CONSIDERABLE SPECULATOR SHORT COVERING 

WE HAVE GAINED A TOTAL OI OF 4562 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 180,000 OZ QUEUE JUMP   (FOR 0.4498 TONNES)//NEW TOTAL STANDING FALLS TO 43,486 +  4.634  TONNES EXCHANGE FOR RISK : NEW TOTAL 48.131 TONNES../ ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE  TO THE TUNE OF $3.90  

WE HAD -removed 116 CONTRACTS  TO THE  COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 1467 CONTRACTS OR 146,700 OZ OR 4,.562 TONNES.

Estimated gold volume today:// 142,611 poor

final gold volumes/yesterday  184,963 poor

//speculators have left the gold arena

DEC 15

/ /// THE DEC.  2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	nil           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	3999.25 oz Delaware
No of oz served (contracts) today	190  notice(s) 19000OZ 0.5909 TONNES
No of oz to be served (notices)	168  contracts    16,800 oz 0.522 TONNES
Total monthly oz gold served (contracts) so far this month	13,816notices 1,381,600 oz 42.943 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: 1

i) Into Delaware 3999.25 oz

we had  3999.25 customer withdrawals

Adjustments; 2 dealer to customer

Brinks 7330.428 oz (228 kilobars)

and

HSBC 964.444 oz (30 kilobars) 

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.

For the front month of DECEMBER we have an oi of 358  contracts having LOST 130  contracts. .We had 310

contracts served upon FRIDAY, so we GAINED or an additional 180 CONTRACTS OR 18,000OZ (0.5598 tonnes)  will stand for delivery at the comex 

JAN. LOST 24 contracts FALLING TO 3259contracts.

FEB LOST 3050 CONTRACTS FALLING TO 370,767

We had  190contracts filed for today representing  19,000    oz  

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 30  notices were issued from their client or customer account. The total of all issuance by all participants equate to  190   contract(s) of which 0   notices were stopped (received) by  j.P. Morgan dealer and 25 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 (13,,816x 100 oz ), to which we add the difference between the open interest for the front month of  DEC. (358 CONTRACTS)  minus the number of notices served upon today  190 x 100 oz per contract equals  1,398,400 OZ  OR 43,486 TONNES + 4.634 TONNES EX. FOR RISK ISSUED/PRIOR/ (FOR DELIVERY HERE) = 48,131 TONNES. 

thus the INITIAL standings for gold for the DEC. contract month:  No of notices filed so far (13,816) x 100 oz +  (358) {OI for the front month} minus the number of notices served upon today (190)  x 100 oz) which equals  1,398,400 oz standing OR 43486 TONNES + 4.634 tonnes of ex. for risk = 48.131 TONNES

TOTAL COMEX GOLD STANDING FOR DEC: 48,131TONNES 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:  20,066,011/741 OZ  

TOTAL REGISTERED GOLD 10,255,660.212  (318,99  tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,810,351.529 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,696,311 oz (REG GOLD- PLEDGED GOLD) 270,49 tonnes

END

SILVER/COMEX

DEC 15

//2023// THE DEC 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	nil oz .
Deposits to the Dealer Inventory	nil OZ
Deposits to the Customer Inventory	505,373.060oz Brinks CNT Delaware
No of oz served today (contracts)	2 CONTRACT(S)    (10,000 OZ)
No of oz to be served (notices)	652 contracts  (3,500,000 oz)
Total monthly oz silver served (contracts)	2954 Contracts  (14,770,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit

total dealer deposit: nil oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  3 deposits customer account:

i) Into Brinks 481,368.600 oz

ii) Into CNT 14,878.410 o

iii) Into Delaware 9089.05

total customer deposits:  505,373.060   oz

JPMorgan has a total silver weight: 133.1390  million oz/270.200 million  or 49.25%

Comex withdrawals 0

total withdrawals 0

Adjustments; 0

TOTAL REGISTERED SILVER: 45.498 MILLION OZ//.TOTAL REG + ELIGIBLE. 270.200 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF DEC /2023 OI: 654  CONTRACTS HAVING LOST 9  CONTRACT(S).

WE HAD  0 CONTRACTS SERVED ON FRIDAY, SO WE LOST 9 CONTRACTS OR 45000 OZ WERE

EFP;d TO LONDON TAKING DELIVERY OVER THERE

JAN GAINED 9 CONTRACTS UP TO 1804 CONTRACTS

FEB GAINED 46 CONTRACTS TO STAND AT 357

MARCH LOST 865 CONTRACTS TO 105,939.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 1 for 10,000  oz

Comex volumes// est. volume today   41,645// poor

Comex volume: confirmed yesterday 59,770

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 2954x  5,000 oz = 14,770,000 oz 

to which we add the difference between the open interest for the front month of DEC. (654) and the number of notices served upon today 2x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the DEC/2023 contract month:  2954 (notices served so far) x 5000 oz + OI for the front month of DEC. (654) – number of notices served upon today (02 )x 500 oz of silver standing for the DEC  contract month equates to 18.030 MILLION OZ.   to which we add 0million oz of exchange for risk today and then add prior exchange for risk of 6.5 million oz//

 New total standing: 24,530 million oz.

There are 45.512 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!

DEC18/WITH GOLD UP $5.50  TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:. /A DEPOSIT OF 173 TONNES INTO THE GLD// INVENTORY RESTS AT 879.69 TONNES

DEC14/WITH GOLD UP $47.35  TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:. /A DEPOSIT OF 2.42 TONNES FROM THE GLD// INVENTORY RESTS AT 877.96 TONNES

DEC13/WITH GOLD UP $3.90  TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:. /A WITHDRAWAL OF 2.89 TONNES FROM THE GLD// INVENTORY RESTS AT 875,65 TONNES

DEC12/WITH GOLD DOWN $0.60  TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:. /A WITHDRAWAL OF 2.01 TONNES FROM THE GLD// INVENTORY RESTS AT 878.54 TONNES

DEC11/WITH GOLD DOWN $21.20  TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:. // / / // INVENTORY RESTS AT 880.55 TONNES

DEC 8/WITH GOLD DOWN $30,80  TODAY: SMALL CHANGES IN GOLD INVENTORY AT THE GLD:. // / / // A WITHDRAWAL OF .28 TONNES OF GOLD FROM THE GLD/// INVENTORY RESTS AT 880.55 TONNES

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 30/WITH GOLD UP $7.80 TODAY:HUGE 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: 879.69 TONNES

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

DEC  18/WITH SILVER DOWN 9 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 0.794 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 440.646 MILLION OZ

DEC  14/WITH SILVER DOWN 8 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: A MASSIVE WITHDRAWAL OF 3.00000 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 441.470 MILLION OZ

DEC  13/WITH SILVER DOWN 8 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 10.326 MILLION OZ FROM THE SLV////INVENTORY RESTS AT 444.470 MILLION OZ

DEC  12/WITH SILVER DOWN 5 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 594,000 OZ FROM THE SLV////INVENTORY RESTS AT 434.144 MILLION OZ

DEC  11/WITH SILVER DOWN 19 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: A ////INVENTORY RESTS AT 434.735 MILLION OZ

DEC  8/WITH SILVER DOWN 80 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 1.648 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 434.735 MILLION OZ

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 440.646 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

END

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

Three Wall Street Mega Banks Hold $157.3 Trillion in Derivatives – That’s $56.7 Trillion More than the Entire World’s GDP Last Year

By Pam Martens and Russ Martens: December 18, 2023

At recent Congressional hearings on federal bank regulators’ newly proposed rules to force the largest banks in the U.S. to hold more capital against their riskiest trading positions (so that taxpayers aren’t on the hook for more bailouts), the banks and their sycophants holding Senate and House seats made it sound like it’s the American farmers who will be hurt because the derivatives they use to hedge against crop failures or price swings in their crops will become more expensive..

We knew this was a completely bogus argument because the latest data from the U.S. Department of Agriculture indicates that “agriculture, food, and related industries contributed roughly $1.264 trillion to U.S. gross domestic product (GDP) in 2021….”

In other words, U.S. farmers need to hedge less than $2 trillion while just three mega banks on Wall Street were holding $157.3 trillion in derivatives as of September 30 of this year – which is $56.74 trillion more than the GDP of the entire world last year. (See chart above.)

If the bulk of these derivatives aren’t being used by farmers and business owners to hedge against losses, what are they being used for? According to the Office of the Comptroller of the Currency (OCC), the federal regulator of national banks, the trillions of dollars in derivatives at the mega banks on Wall Street are being used for trading – likely for the benefit of the banks themselves or their billionaire speculator clients, such as hedge funds and family offices.

According to the OCC, as of September 30, JPMorgan Chase (which lost $6.2 billion from its federally-insured bank in wild derivative trades in 2012) is still allowed to sit on $54.4 trillion in derivatives. Citigroup’s Citibank, which blew itself up in 2008 from derivatives and off-balance-sheet vehicles and received the largest bailout in global banking history, is sitting on more derivatives today than at the time of its crash in 2008. OCC data shows Citibank with $35.6 trillion in derivatives on September 30, 2008 (see Table 1 in the Appendix here) versus a staggering $51.3 trillion as of September 30, 2023. Goldman Sachs, whose federally-insured bank has just $538 billion in assets, has $51.6 trillion in derivatives. (In what alternative universe from hell would Goldman Sachs be allowed to own a federally-insured bank?)

Then there is the matter of concentrated risk. According to the FDIC, as of September 30, there were 4,614 federally-insured banks and savings associations in the U.S. – the vast majority of which found no need to involve the bank in derivatives at all. But, for some inexplicable reason, three banks with highly dubious histories have been allowed to establish insane levels of concentrated risk in derivatives. The $157.3 trillion in derivatives held by JPMorgan Chase Bank, Citibank and Goldman Sachs Bank USA represent 77 percent of all derivatives held by all 4,614 federally-insured financial institutions in the U.S. (See chart below.)

The chart at the top of this page shows how this derivative problem has grown since the repeal of the Glass-Steagall Act in 1999. The repeal removed the ban of casino trading houses on Wall Street merging with federally-insured banks. Today, every giant federally- insured bank on Wall Street owns a trading house. In 1996, prior to the repeal of Glass-Steagall, derivatives at U.S. banks represented just 63 percent of world GDP. At the end of last year, derivatives at U.S. banks represented 189.92 percent of world GDP.

To prevent a replay of the banks blowing themselves up as they did in 2008 while their federal regulators were napping, federal banking regulators in July proposed to impose higher capital rules on just 37 banks – those significantly engaged in derivatives and other high-risk trading strategies.

The backlash has been fierce, with the mega banks even running television ads painting a bogus and distorted picture of what the capital increases would do.

Another critical question is who is on the other side of these derivative trades with the mega banks and may blow up if they took the wrong side of the trade?

According to federal researchers, there are both mega bank counterparties as well as  “non-bank financial counterparties” – which could be insurance companies, brokerage firms, asset managers or hedge funds. There are also “non-financial corporate counterparties” – which could be just about any domestic or foreign corporation. To put it another way, the American people have no idea if they own common stock in a publicly-traded company that could blow up any day from reckless dealings in derivatives with global banks.

This is not some far-fetched fantasy. Wall Street has a history of blowing up things with derivatives. Merrill Lynch blew up Orange County, California with derivatives. Some of the biggest trading houses on Wall Street blew up the giant insurer, AIG, with derivatives in 2008, forcing the U.S. government to take over AIG with a massive bailout.

According to documents released by the Financial Crisis Inquiry Commission (FCIC), at the time of Lehman Brothers’ bankruptcy on September 15, 2008, it had more than 900,000 derivative contracts outstanding and had used the largest banks on Wall Street as its counterparties to many of these trades. The FCIC data shows that Lehman had more than 53,000 derivative contracts with JPMorgan Chase; more than 40,000 with Morgan Stanley; over 24,000 with Citigroup’s Citibank; over 23,000 with Bank of America; and almost 19,000 with Goldman Sachs.

According to the Financial Crisis Inquiry Commission (FCIC), derivatives played an outsized role in the spread of financial panic in 2008. The FCIC wrote in its final report:

“the existence of millions of derivatives contracts of all types between systemically important financial institutions—unseen and unknown in this unregulated market—added to uncertainty and escalated panic….”

We are asking our readers to do their part to stop Wall Street mega banks and their legions of lobbyists from gutting the proposed capital rules. Please contact your U.S. Senators today via the U.S. Capitol switchboard by dialing (202) 224-3121. Tell your Senators to demand that banking regulators hold firm on the stronger capital rules for the casino banks on Wall Street.-END-

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

end

4. OTHER GOLD/SILVER //COMMENTARIES//PODCASTS…LIVE FROM THE VAULT/ANDREW MAGUIRE

Episode 153

Posted 15th December 2023

Was gold price spike a warning shot?

In this week’s episode of Live from the Vault, Andrew Maguire answers the audience’s burning questions, shining light on the recent gold price spike and reversal before revealing whether this was a warning shot from the weaponisation he’s been informing us about.

The precious metals expert and whistleblower examines what would happen if the paper market suddenly stopped trading, before taking listeners through what’s driving the ongoing gold and silver price action

5 a. IMPORTANT COMMENTARIES ON COMMODITIES 

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN:   CLOSED UP AT 7.1350

OFFSHORE YUAN: UP TO 7.1385

SHANGHAI CLOSED  DOWN 11.75 PTS OR 0.40%

HANG SENG CLOSED UP 162.96 PTS OR 0.97%

2. Nikkei closed  DOWN 211.59  PTS OR 0.64%

3. Europe stocks   SO FAR:   MOSTLY RED 

USA dollar INDEX DOWN  TO  102.13 EURO RISES TO 1.0915 UP 26 BASIS PTS

3b Japan 10 YR bond yield:FALLS TO. +.662 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 142.78/JAPANESE YEN NOW RISING 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 UP for WTI and UP  FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.0185***/Italian 10 Yr bond yield DOWN to 3.695** /SPAIN 10 YR BOND YIELD DOWN TO 2.988…**

3i Greek 10 year bond yield DOWN TO 3.122

3j Gold at $2023.70 silver at: 23.90 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0  AND 30 /100        roubles/dollar; ROUBLE AT 91.58//

3m oil into the  71  dollar handle for WTI and 77  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 142,78//  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.662% 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 0.8678 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9420 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: 3.9090 DOWN 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.015  DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  4.425 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 29.05…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: DOWN 10  BASIS PTS AT 3.68353

end

2.a  Overnight:  Newsquawk and Zero hedge.

Futures Rise After 7 Weeks Of Gains, Oil Jumps As Shippers Halt Red Sea Crossings

MONDAY, DEC 18, 2023 – 08:22 AM

After 7 consecutive weeks of gains, US equity futures edged higher, and traded near session highs even as European bourses were red across the board, as central bankers sought to sow doubts that aggressive interest-rate cuts will materialize early next year. As of 8:00amm S&P 500 futures added 0.3% with Nasdaq 100 futs rising 0.5% on the back of relentless year-end tech momentum, while the Stoxx Europe 600 index was little changed amid thin volumes.  Oil rebounded from earlier losses after BP halted all tanker transits through the red sea. Treasuries edged higher and are on course for a fifth day of gains — the longest stretch since August — while the dollar slips and the yen underperformed ahead of Tuesday’s Bank of Japan monetary policy decision. Meanwhile, more government-backed Chinese companies have ordered staff to not bring iPhones and other foreign devices to work, setting in motion an unprecedented prohibition that could block Apple and Samsung from the world’s largest mobile market.

In premarket trading, United States Steel rose as much as 32% after Nippon Steel agreed to buy U.S. Steel for $55/share in cash for equity value of about $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion. Shares of Vodafone Group Plc rallied almost 7% after Billionaire Xavier Niel’s Iliad proposed combining its Italian business with Vodafone’s local operations.  Here are some other notable premarket movers:

• Arcutis Biotherapeutics climbs 24% after the drugmaker said the FDA approved another formulation of Zoryve to treat seborrheic dermatitis in patients 9 years and older.
• Illumina shares rise as much as 3.5% after the company said it will sell Grail Inc. following an appeals court finding that the acquisition of the cancer detection startup violated antitrust laws.
• Masonite International shares fall as much as 5.9% after announcing deal to buy PGT Innovations for a combination of cash and Masonite shares with a total transaction value of $3 billion.
• New Oriental ADRs jump 10% after the Chinese education firm’s livestreaming e-commerce subsidiary East Buy dismissed CEO Sun Dongxu amid an exodus of subscribers.
• Palo Alto Networks shares drop as much as 1.3% after the cybersecurity company was cut to market perform from outperform at Raymond James on a stretched valuation following rally in shares.
• Snap rises as much as 4.1% after Guggenheim Securities raised the recommendation on the social media company’s stock to buy from neutral. The broker notes that the digital ad market should strengthen in 2024, as it hikes its price target to a Street-high.
• Sunnova Energy International rises 3.4% after Goldman Sachs upgraded the solar-energy stock to buy from neutral, noting that the residential solar market is recovering.
• Thermo Fisher gains as much as 0.2% while Teva is rising 1.9% as HSBC initiates coverage of the stocks with buy ratings.
• Danaher is initiated at hold as HSBC analysts update their ratings in the life sciences and health care sectors ahead of a year which could see a US election spark “angst” for biopharma investors amid a focus on drug pricing.
• Trade Desk rises 0.4% after HSBC initiated with a buy rating, with the broker saying there’s no slowdown in the programmatic industry.

ECB Governing Council member Bostjan Vasle joined a chorus of officials tempering market optimism about rate cuts. His cautious tone came after New York Fed President John Williams last week said bets on a March reduction were premature, and ECB President Christine Lagarde said the bank had not discussed cuts at all. Despite attempts to tame market bulls, the optimism is proving resilient, according to Seema Shah, chief global strategist at Principal Asset Management.

“The message for investors is clear: there is a path to monetary easing in 2024,” she said. “Uncertainty around the exact timing of cuts will add volatility, but it will not change the trend.”

European stocks were little changed meanwhile with the Stoxx 600 down -0.1%, erasing much of the opening loss. Here are some of the biggest European movers today:

• OCI jumps as much as 15% after the Amsterdam-listed chemicals firm agreed to sell its US crop nutrient business to Koch Industries for $3.6 billion. Analysts said the deal price is attractive
• Vodafone rises as much as 6.9% after Iliad submits a proposal to merge the companies’ Italian operations, valuing the subsidiary at around €10.5 billion including debt
• Shipping giants including Maersk and Hapag Lloyd extend Friday’s gains as widespread trade disruptions intensify due to recent militant attacks on merchant ships in the Red Sea
• Carl Zeiss Meditec shares rise as much as 4.1% after the German medical-technology company on Friday agreed to buy DORC from Eurazeo at an enterprise value of about €985 million
• Games Workshop rises as much as 3.6% after signing a deal giving Amazon the exclusive rights for the development of films and television series set within the Warhammer 40,000 universe
• Odfjell Drilling gains as much as 14% after DNB raised its price target for the Norwegian offshore firm, saying 2024 is sizing up to be a turnaround year for the stock’s valuation
• Nordnet drops as much as 5.9%, the most intraday since June, after Barclays downgraded the shares, citing a more challenging macro environment for the digital bank in 2024. Separately, Citi opened a negative catalyst watch on the shares following a strong rally in 2023
• Thule falls as much as 3.2% after ABG Sundal Collier initiated coverage of the Swedish bicycle-rack and and outdoor equipment maker with a sell rating, saying its valuation is too high
• Diasorin drops as much as 5.1% after the Italian diagnostics firm reveals new 2024 and medium-term guidance. Analysts see the rebased targets as achievable
• Ferrovial falls as much as 1.3 after a report that the infrastructure operator is planning to sell its stakes in three UK airports

Attention now shifts to Japan with week with the nation’s central bank beginning a two-day policy meeting Monday. While speculation has grown the Bank of Japan will soon end the world’s last negative-rate regime, economists see April as the most likely timing for a change, with around 15% expecting Ueda to pull the plug on negative rates in January, according to a Bloomberg survey of more than 50 economists.

“The BOJ has little need to rush into making policy changes,” Societe General economists led by Wei Yao wrote in a note. “But markets will be watching for any sign the board is willing to end negative rates or yield curve control.”

In FX, the Bloomberg dollar spot index is little changed; the yen underperformed against its major peers amid expectations that Bank of Japan policymakers will leave the negative-rate policy in place when concluding a two-day meeting on Tuesday.

• The Japanese yen is the weakest of the G-10 currencies, falling 0.4% versus the greenback ahead of the Bank of Japan policy decision on Tuesday. “We judge markets have priced in some modest chance of BOJ tightening this week,” Commonwealth Bank of Australia strategists led by Joseph Capurso wrote in a research note. “As such, the absence of any hawkish policy actions or comments by Governor Ueda will likely push USD/JPY up”
• The euro rises 0.1%, with little reaction shown to soft German IFO data. 
• The onshore yuan fell after Chinese banks’ net purchases of foreign-exchange versus the local currency expanded in November to the biggest since 2016. The PBOC eased support for the currency via its daily reference rate Monday. USD/CNY gains 0.1% to 7.1298; USD/CNH steadies at 7.1365. PBOC set the yuan reference rate at 7.0933 per dollar, stronger than the estimate of 7.1128 in a Bloomberg survey of analysts and traders
• Hungary’s currency fell to its weakest level since October as banks adjust their balance sheets before the end of the year, offsetting last week’s positive sentiment surrounding the partial unlocking of EU funds for the country. Forint falls as much as 0.6% against euro, while zloty drops 0.4% and koruna 0.3% amid a retreat by emerging-market currencies after comments from Fed officials cooled expectations of aggressive interest-rate cuts in 2024.

In rates, treasuries rose as traders keep a close eye on any comments out of the US central bank – Chicago Fed President Goolsbee said on Sunday that it’s too early to declare victory in the inflation fight. US 10-year yields initially fell 2bp to 3.89% but have since rebounded back to flat after news that more tanker firms are halting transit through the Red Sea.

Oil prices rebounded, with Brent jumping to $78 and reversing earlier losses of up to 1%, following news that BP and other oil companies will avoid the Red Sea. Spot gold adds 0.1%.

Bitcoin extended weekend losses, flirting with the $41k handle with specifics for the Crypto space light. As such, BTC remains within the boundaries of the last two weeks and continues to give back the pronounced gains from the first few sessions of December.

Looking at today’s calendar, US economic data includes December New York Fed services business activity (8:30am) and NAHB housing market index (10am); this week includes housing starts/building permits, existing home sales, consumer confidence, GDP, new home sales and PCE deflator. Fed’s Goolsbee is scheduled to speak at 8:30am; Bostic and Goolsbee again are also expected this week

Market Snapshot

• S&P 500 futures up 0.2% to 4,779.50
• STOXX Europe 600 little changed at 476.42
• MXAP down 0.6% to 164.63
• MXAPJ down 0.3% to 514.31
• Nikkei down 0.6% to 32,758.98
• Topix down 0.7% to 2,316.86
• Hang Seng Index down 1.0% to 16,629.23
• Shanghai Composite down 0.4% to 2,930.80
• Sensex down 0.2% to 71,314.40
• Australia S&P/ASX 200 down 0.2% to 7,426.36
• Kospi up 0.1% to 2,566.86
• German 10Y yield little changed at 2.02%
• Euro up 0.3% to $1.0923
• Brent Futures up 0.1% to $76.66/bbl
• Gold spot up 0.3% to $2,024.99
• U.S. Dollar Index down 0.12% to 102.43

Top Overnight News

• There is no doubt that the Bank of Japan is considering lifting negative interest rates in January, said Chotaro Morita, chief strategist at All Nippon Asset Management Co.
• Recession fears may stalk Britain’s economy once again, with the threat of a downgrade this week to previous GDP estimates that had raised hopes that the country may have avoided a contraction.
• Morgan Stanley is looking to offload a $350 million loan it made to Saudi Arabia’s sovereign wealth fund.
• When a Walgreens Boots Alliance Inc. affiliate bought Summit Health-CityMD around a year ago, the pharmacy group’s management hailed the deal as transformational for its push into primary health care. Twelve months later, the $8.9 billion takeover has struggled to deliver cost synergies and Walgreens’s creditworthiness has just been cut to junk for the first time since its formation.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break. ASX 200 saw losses in the Gold and Energy sectors somewhat cushioned by modest gains in Tech. Nikkei 225 fell at the open with the deepest losses seen in Real Estate and Financial stocks, although the index trimmed losses after finding support near 32,500, whilst traders also look ahead to the BoJ announcement on Tuesday. Hang Seng and Shanghai Comp were lower with the former seeing losses in Financials and Property stocks, whilst the latter was initially cushioned with PBoC resuming cash injections via 14-day reverse repos to meet year-end liquidity demands.

Top Asian News

• China’s economy in 2024 faces more opportunities than challenges, and favourable conditions are stronger than unfavourable factors, according to state media.
• China’s Central Finance office said there are blockages in the economic cycle domestically, demand is insufficient, and consumption and enterprise investment willingness are not strong enough, according to state media. Issuance of an additional CNY 1tln of Treasury bonds this year, as well as cuts in interest rates, tax and fee cuts, and other policy effects, will continue into next year. Click here for the detailed headline.
• A growing number of Chinese chip design firms are reportedly tapping Malaysian Cos to assemble a portion of their high-end chips, in a bid to hedge risks of US-expanded sanctions on China’s chip industry, according to Reuters sources.
• PBoC injected CNY 184bln through 7-day reverse repos at 1.80% and CNY 60bln via 14-day reverse repos at 1.95%; both rates were maintained, according to Reuters.
• Hong Kong Chief Executive John Lee will provide updates on political and economic situation of Hong Kong in a meeting with Chinese President Xi and Premier Li on Monday afternoon according to SCMP sources.
• A Chinese developer partially owned by the city of Shenzhen warned it can’t pay interest due Wednesday, according to Bloomberg.
• Japan’s Keidanren Chief Tokura says the BoJ should normalise monetary policy as soon as possible; big wage hike should not be a one-off.

European bourses are a touch softer, Euro Stoxx 50 -0.3%, continuing the decline from the APAC session where markets were focused on geopols and a slight pushback from the Fed. Sectors are mixed with outperformance in Energy & Basic Resources alongside Telecom names, the latter bolstered by Vodafone (+6.5%) striking a deal with Iliad. Stateside, futures are contained with the ES +0.3% in relative proximity to Friday’s peak ahead of Goolsbee today and Bostic throughout the week before PCE on Friday.

Top European News

• ECB’s Vasle says market pricing for the start of rate cuts, and the totality for 2024, is excessive. Recent accomodation priced into rates is inconsistent with the stance appropriate to get inflation to target. Inflation will rebound in H1, ECB should reassess policy outlook only after observing the trend. Wage formation in Q1 is crucial for the policy outlook.
• BoE’s Broadbent says “given the volatility in the official estimates of wage growth, and the disparity (such as it is) among the various indicators we have, it will probably require a more protracted and clearer decline in these series before the MPC can safely conclude that things are on a firmly downward trend.”

FX

• DXY is modestly pressured and has traded on either side of 102.50 in a 102.37-63 bound; Friday’s range of 101.83-102.64.
• EUR back above 1.09 with no real action on the poor German Ifo, given PMIs last week, ahead of ECB’s Lane & Schnabel.
• USD/JPY around the 142.56 200-DMA ahead of the December BoJ announcement (preview available), session high in proximity to the 14th December 142.89 best.
• Antipodeans the best performers with support coming after additional PBoC liquidity and a firmer Yuan fix.
• PBoC set USD/CNY mid-point at 7.0933 vs exp. 7.1135 (prev. 7.0957); strongest level since June 5th
• Fitch affirmed Brazil at ‘BB’; Outlook Stable. Affirmed Hungary at ‘BBB’; outlook Negative.
• Brazil’s lower house approved the main text of reform on consumption taxes, according to Reuters.

Fixed Income

• Contained trade for USTs ahead of Fed speak, modest upward bias with overall action bull steepening slightly while the US 30yr yield eyes 4.00% to the downside.
• Bunds lifted to session highs on the December German Ifo which saw Business Climate & Expectations print below the forecast range. Holding around 137.35 off the 137.46 peak and just shy of Friday’s 137.48 best.
• Gilts outperform with BoE speak fairly limited though we did get some slight pushback from Broadbent who echoed the statement in wanting to see a “more protracted and clearer decline” in wage series before making a conclusion.

Commodities

• Crude benchmarks initially contained but began to slip on the German Ifo and have continued to decline since, but remain above Friday’s trough with specifics light.
• WTI & Brent Feb down to USD 70.64/bbl and USD 75.76/bbl at worst; though, contracts have lifted from lows in the wake of reports that BP (BP/ LN) is to pause all tanker transits via the Red Sea, via Bloomberg.
• Russian Deputy PM Novak said Russia is to increase oil export cuts as part of the OPEC+ deal already in December, with the number to exceed 300k BPD by May-June, according to Ifax. He added Russia’s oil exports are to be lower than 247mln tonnes in 2023.
• Russia does not yet see grounds for lifting the ban on winter diesel export, according to Ifax.
• Russia is not interested in extending the Black Sea grain deal, according to RIA citing the Agriculture Minister.
• Goldman Sachs moderates range for 2024 Brent prices by USD 10/bbl to USD 70-90/bbl as they now expect only a modest deficit and slightly less elevated long-dated prices; still look for range-bound oil prices and only moderate price volatility in 2024, according to Reuters.
• Australia has reportedly opened a door to AUD 40bln in government funding for copper and nickel projects, alongside other materials, putting them on a list of materials deemed essential to the global energy transition, according to Reuters.
• Panama Canal on Friday said it will increase the number of booking slots available in its Panamax and Neopanamax locks after a severe drought, according to Reuters.
• Yellow metal benefitting from the lower yield environment with limited initial follow through from geopols, XAU at the mid-point of USD 2016-2027/oz bounds.

Geopolitics

• Kuwait announced 40 days of mourning and closure of official departments after the passing of Sheikh Nawaf al-Ahmad al-Jaber al-Sabah on Saturday, according to Reuters.
• Argentina agreed to a USD 960mln bridge loan with CAF to meet IMF debt obligations, according to Reuters.
• Chilean right-wing UDI party concedes in the referendum; Chileans reject second proposed new constitution in the referendum, according to Bloomberg.

Middle East:

• Israeli PM Netanyahu said Israel has received requests to cease fire and remove troops in Gaza talks but will not do so, and added they have serious criticism of Qatar but right now are trying to complete the recovery of hostages, according to Reuters.
• Israeli Defense Minister said his country can ‘copy and paste’ what it is doing to Hamas onto Hezbollah, according to Spectator Index.
• Syrian air defence intercepted Israeli targets in the vicinity of Damascus, according to the state news agency.
• Yemeni Houthis were reportedly in Oman-mediated talks over ‘operations’ in the Red Sea, according to a Houthi spokesman cited by Reuters.
• Yemeni Houthis said they carried out a military operation against ‘sensitive targets in southern occupied Palestine’ with a large batch of drones, according to a statement.
• Yemen Houthi official said Yemen is ready with all defensive options to respond to any American, Israeli, or Western hostile moves, according to Al Mayadeen TV, and added that any hostile move against Yemen will have dire consequences and great costs.
• USS Carney shot down 14 Houthi armed attack drones on Saturday in the Red Sea, according to Fox’s Griffin.
• UK Defence Minister said a UK navy ship has shot down a suspected attack drone targeting merchant shipping in the Red Sea, according to Reuters.
• Iran executed an “agent of Israel’s Mossad” intelligence service, according to Iranian media.
• Iranian state media and Israeli state media says that ‘predatory sparrow’ hacking group has claimed responsibility for outages at Iranian petrol stations.

Other:

• US military reportedly plans to resume permanent deployment of fighter jets at an American base in Okinawa but with fewer planes than before, according to Nikkei. The service intends to deploy 36 F-15EX aircraft.
• North Korea fired a long-ranged ICBM overnight, which landed outside of Japan’s EEZ. The North Korean ICBM ballistic missile test could have a range covering all of the US, according to AFP citing Japan.
• North Korea launched a short-range ballistic missile over the weekend, which appeared to have landed outside of Japan’s EEZ, according to the South Korean military and Japan’s Defence Ministry.
• China’s Foreign Minister met with the North Korean counterpart on December 18th, according to Chinese state media.
• US Secretary of State Blinken said the Hong Kong national security law changes unjustly target overseas democracy advocates, including US citizens based in the United States and Hong Kong, according to Reuters.
• US approved the possible sale of command, control, communications, and computer support to Taiwan’s de facto embassy in Washington for USD 300mln, according to the Pentagon.
• Russian President Putin said Russia has no interest in fighting with NATO, according to Reuters.

US Event Calendar

• 08:30: Dec. New York Fed Services Business, prior -11.9
• 08:30: Chicago Fed’s Goolsbee on CNBC
• 10:00: Dec. NAHB Housing Market Index, est. 37, prior 34

DB’s Henry Allen concludes the overnight wrap

As we arrive at the final week before Christmas, the astonishing market rally has shown no sign of abating after the Fed signalled 75bps of rate cuts next year. Indeed, the S&P 500 has now advanced for 7 consecutive weeks for the first time since 2017, and futures for the index are up another +0.28% this morning. Moreover, US Treasuries have just seen their best weekly performance since the pandemic turmoil of March 2020, back when the Fed was last cutting rates, and this morning the 10yr yield is down another -0.8bps to 3.90%.

That signal from the Fed marked a big shift from the ‘higher for longer’ narrative on rates, which had briefly taken the 10yr Treasury yield above 5% in late-October. But the big question is now when these rate cuts might happen, and on Friday we had some mild pushback from Fed officials against the market excitement. For instance, New York Fed President Williams said they “aren’t really talking about rate cuts”, and that it was “premature” to be thinking about a March cut. Meanwhile, Atlanta Fed President Bostic said “I’m not really feeling that this is an imminent thing”, and that they wouldn’t need to cut rates until Q3. So markets actually lost a bit of momentum on Friday, with investors pricing out 8bps of Fed cuts for 2024, and the S&P 500 lost modest ground after a run of 6 consecutive daily gains .

Nevertheless, markets are still pricing in a reasonably aggressive pace of rate cuts taking place next year, with an 83% chance of a cut priced in by the March meeting. Moreover, there are now more than 150bps of cuts priced in between the January 2024 and January 2025 meetings, and most of the time we’ve seen that pace of cuts historically, it’s been because of a recession. So there’s now a two-sided risk here. On the one hand, to get cuts that quickly, history suggests you probably need a recession (in line with our World Outlook call), which wouldn’t be good news for risk assets. But if the economy does manage to hold up better than expected, then the alternative risk is that markets don’t see the amount of cuts they’re currently pricing in, which is broadly speaking what happened this year.

How that question resolves itself will be a key issue in 2024, and it’s not the first time that markets have got excited about a dovish pivot. We’ve counted six other times before in this cycle where markets saw a noticeable rally, before being disappointed as the Fed stayed hawkish (link here). Moreover, it’s worth bearing in mind that if the rate cuts trail the decline in inflation, then that means they’re still rising in real terms, which will have an impact on corporates too. On that theme, the credit strategy team have also published a note this morning where they look at how much a soft landing is currently priced in. See the report here.

Looking forward, the week ahead will be a quieter one as we move towards Christmas. But central banks will still be in focus as the Bank of Japan announce their latest decision tomorrow. And unlike other central banks where the focus is now on rate cuts, the speculation around the BoJ is still around when the negative interest rate policy might come to an end. Indeed, there had been heightened speculation over the last couple of weeks about a policy shift at this meeting, and as recently as December 7, investors were pricing in a 45% chance intraday that there would be a shift away from the negative interest rate policy. However, that’s fallen back significantly, and Bloomberg also reported last week that BoJ officials saw little need to change policy this week. DB’s economist thinks that they’ll maintain their current monetary policy framework this time, but that they’ll also hint in some way at an end to the negative interest rate policy in January. See the full preview here.

When it comes to economic data, inflation readings will still be in focus, particularly in terms of what that means for how swiftly central banks can cut rates. This week brings several releases, including the November CPI prints from the UK, Canada and Japan, along with the PCE inflation release from the US, which is the Fed’s preferred measure of inflation. In October, US headline PCE was down to just 3.0% year-on-year, which is the lowest rate since March 2021, adding further support to hopes of a soft landing and near-term rate cuts.

Finally, we’ve also got several confidence indicators, including the Ifo business climate indicator from Germany, the Conference Board’s consumer confidence in the US, along with the European Commission’s consumer confidence reading for the Euro Area.

This morning in Asia, equity markets have lost ground across the region, with the Hang Seng (-1.07%), the Nikkei (-0.69%), the CSI 300 (-0.32%) and the Shanghai Comp (-0.25%) all falling back. However, the KOSPI is the main exception, having posted a +0.24% advance.

Recapping last week now, the main story was of course that dovish signalling from the FOMC decision and Powell’s press conference, which boosted expectations of a soft landing and impending Fed easing. However, the ECB and the BoE weren’t so dovish with their own decisions, and then those Fed speakers on Friday also pushed back on that narrative about imminent rate cuts. Nevertheless, investors massively dialled up their expectations for rate cuts in 2024, and pricing for a March cut rose from 47% to 77% over the week. Moreover, the amount of cuts priced for the entire year went up from 111bps a week ago to 141bps by Friday, albeit that was down from an intraday peak of 164bps on Thursday morning.

As a result, 2yr Treasury yields were down -27.6bps over the week to 4.45%, their lowest weekly close since May, despite a +5.7bps move higher on Friday. Likewise, 10yr yields fell -31.5bps over the week to 3.91% (-1.0bps Friday), with the 10yr real yield down -31.1bps to 1.70%, its sharpest weekly decline since March 2022.

Lower rates and the prospect of a soft landing boosted equities, with several milestones achieved last week. The S&P posted a 7th consecutive weekly advance (+2.49%; 0.01% on Friday), for the first time since 2017, bringing the index within 2% of its all-time high. Small caps stocks were the biggest beneficiary, with the Russell 2000 index up +5.55%, despite a retreat on Friday (-0.77%). Meanwhile, megacap tech stocks saw more moderate gains over the week but the Magnificent Seven (+1.13%; +0.84% Friday) still closed at an all-time high, having now achieved a +103.7% advance YTD. Over in Europe, the Stoxx 600 posted a +0.92% weekly gain (+0.01% Friday) to close at its highest level since February 2022.

On the data side, we had the flash PMIs for December on Friday, which were mixed depending on the country. In the US, the composite PMI rose to a 5-month high of 51.0 (vs. 50.5 expected), and in the UK it also hit a 5-month high of 51.7 (vs. 51.0 expected). However, there were more disappointing numbers from Europe, with the Euro Area composite flash PMI down -0.6pts to 47.0 (vs. 48.0 expected). In turn, that contributed to an outperformance for European sovereign bonds on Friday, with 10yr bund yields down -9.8bps on Friday to 2.01%, its lowest in 12 months. Otherwise, US industrial production was up +0.2% in November (vs. +0.3% expected), and there was a fall in the Empire State manufacturing survey in December, which fell to -14.5 (vs. +2.0 expected) .

Finally, in the commodities space, oil prices manage to eke a modest gain over the week, ending seven consecutive weekly declines. Brent crude was up +0.94% to $76.55/bbl (-0.08% Friday) and WTI up +0.28% to $71.43/bbl (-0.21% Friday). In Europe, TTF natural gas prices fell to their lowest in three months at €33.50/MWh (-13.68% over the week). Notably, TTF futures for next winter (2024-25) fell below €40/MWh for the first time since early March 2022, pointing to declining fears of future gas market stress in Europe .

END

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Modest equity pressure amid some Fed pushback, EGBs bid after soft German Ifo – Newsquawk US Market Open

MONDAY, DEC 18, 2023 – 06:43 AM

• Modest pressure in European/US equities after a similar APAC handover given some Fed pushback
• Fed’s Mester (2024) says markets are a bit ahead of the Fed on rate cuts; Goolsbee (2023 voter) may need to shift focus to jobs
• DXY pressured around 102.50, EUR above 1.09 with limited reaction to Ifo; JPY lags into BoJ
• EGBs printed session highs after German Ifo with USTs contained & 30yr yield eyeing 4.00% to downside
• Crude benchmarks pressured post-data but off lows as BP announces a halt to tanker transits in the Red Sea
• Looking ahead, highlights include Canadian NAHB, NZ Trade, ECB’s Schnabel, Lane, Wunsch & Fed’s Goolsbee

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1. Subscribe to the free premarket movers reports

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EUROPEAN TRADE

EQUITIES

• European bourses are a touch softer, Euro Stoxx 50 -0.3%, continuing the decline from the APAC session where markets were focused on geopols and a slight pushback from the Fed.
• Sectors are mixed with outperformance in Energy & Basic Resources alongside Telecom names, the latter bolstered by Vodafone (+6.5%) striking a deal with Iliad.
• Stateside, futures are contained with the ES +0.3% in relative proximity to Friday’s peak ahead of Goolsbee today and Bostic throughout the week before PCE on Friday.
• Click here and here for the sessions European pre-market equity newsflow, including earnings.
• Click here for more details.

FX

• DXY is modestly pressured and has traded on either side of 102.50 in a 102.37-63 bound; Friday’s range of 101.83-102.64.
• EUR back above 1.09 with no real action on the poor German Ifo, given PMIs last week, ahead of ECB’s Lane & Schnabel.
• USD/JPY around the 142.56 200-DMA ahead of the December BoJ announcement (preview available), session high in proximity to the 14th December 142.89 best.
• Antipodeans the best performers with support coming after additional PBoC liquidity and a firmer Yuan fix.
• PBoC set USD/CNY mid-point at 7.0933 vs exp. 7.1135 (prev. 7.0957); strongest level since June 5th
• Fitch affirmed Brazil at ‘BB’; Outlook Stable. Affirmed Hungary at ‘BBB’; outlook Negative.
• Brazil’s lower house approved the main text of reform on consumption taxes, according to Reuters.
• Click here for more details.
• Click here for the Option Expires for the NY Cut.

FIXED INCOME

• Contained trade for USTs ahead of Fed speak, modest upward bias with overall action bull steepening slightly while the US 30yr yield eyes 4.00% to the downside.
• Bunds lifted to session highs on the December German Ifo which saw Business Climate & Expectations print below the forecast range. Holding around 137.35 off the 137.46 peak and just shy of Friday’s 137.48 best.
• Gilts outperform with BoE speak fairly limited though we did get some slight pushback from Broadbent who echoed the statement in wanting to see a “more protracted and clearer decline” in wage series before making a conclusion.
• Click here for more details.

COMMODITIES

• Crude benchmarks initially contained but began to slip on the German Ifo and have continued to decline since, but remain above Friday’s trough with specifics light.
• WTI & Brent Feb down to USD 70.64/bbl and USD 75.76/bbl at worst; though, contracts have lifted from lows in the wake of reports that BP (BP/ LN) is to pause all tanker transits via the Red Sea, via Bloomberg.
• Russian Deputy PM Novak said Russia is to increase oil export cuts as part of the OPEC+ deal already in December, with the number to exceed 300k BPD by May-June, according to Ifax. He added Russia’s oil exports are to be lower than 247mln tonnes in 2023.
• Russia does not yet see grounds for lifting the ban on winter diesel export, according to Ifax.
• Russia is not interested in extending the Black Sea grain deal, according to RIA citing the Agriculture Minister.
• Goldman Sachs moderates range for 2024 Brent prices by USD 10/bbl to USD 70-90/bbl as they now expect only a modest deficit and slightly less elevated long-dated prices; still look for range-bound oil prices and only moderate price volatility in 2024, according to Reuters.
• Australia has reportedly opened a door to AUD 40bln in government funding for copper and nickel projects, alongside other materials, putting them on a list of materials deemed essential to the global energy transition, according to Reuters.
• Panama Canal on Friday said it will increase the number of booking slots available in its Panamax and Neopanamax locks after a severe drought, according to Reuters.
• Yellow metal benefitting from the lower yield environment with limited initial follow through from geopols, XAU at the mid-point of USD 2016-2027/oz bounds.
• Click here for more details.

NOTABLE EUROPEAN HEADLINES

• ECB’s Vasle says market pricing for the start of rate cuts, and the totality for 2024, is excessive. Recent accomodation priced into rates is inconsistent with the stance appropriate to get inflation to target. Inflation will rebound in H1, ECB should reassess policy outlook only after observing the trend. Wage formation in Q1 is crucial for the policy outlook.
• BoE’s Broadbent says “given the volatility in the official estimates of wage growth, and the disparity (such as it is) among the various indicators we have, it will probably require a more protracted and clearer decline in these series before the MPC can safely conclude that things are on a firmly downward trend.”

DATA RECAP

• German Ifo Business Climate New (Dec) 86.4 vs. Exp. 87.8 (Prev. 87.3, Rev. 87.2); Conditions New (Dec) 88.5 vs. Exp. 89.7 (Prev. 89.4); Expectations New (Dec) 84.3 vs. Exp. 85.9 (Prev. 85.2, Rev. 85.1)

NOTABLE US HEADLINES

• Fed’s Goolsbee (2023 voter) did not rule out the possibility of cutting interest rates at the March meeting and said the Fed may need to shift focus to jobs from inflation, according to WSJ. He said he would support a rate hike if data supported that, but if inflation continues on the current path, cuts could be appropriate. He said with inflation falling to the 2% target, it could be appropriate to be more mindful of the risk that unemployment rises. Goolsbee expects rates to be lower next year than now, but not significantly.
• Fed’s Mester (2024) says markets are a bit ahead of the Fed on rate cuts, says next phase is not when to reduce rates even though that’s where markets are, it is about how long policy should remain restrictive, via FT.
• US NEC Director Brainard said financial markets reflect a more positive view about the economy’s path, and she sees no evidence for wage-price spirals, and sees rents bringing down core inflation, according to Reuters.
• China’s Apple iPhone (AAPL) ban has reportedly been accelerated across government and state firms, according to Bloomberg.
• United States Steel (X) to be acquired by Nippon Steel (5401 JT), via Nikkei; value expected to be over JPY 1tln.
• Click here for the US Early Morning Note.

GEOPOLITICS

• Kuwait announced 40 days of mourning and closure of official departments after the passing of Sheikh Nawaf al-Ahmad al-Jaber al-Sabah on Saturday, according to Reuters.
• Argentina agreed to a USD 960mln bridge loan with CAF to meet IMF debt obligations, according to Reuters.
• Chilean right-wing UDI party concedes in the referendum; Chileans reject second proposed new constitution in the referendum, according to Bloomberg.

MIDDLE EAST

• Israeli PM Netanyahu said Israel has received requests to cease fire and remove troops in Gaza talks but will not do so, and added they have serious criticism of Qatar but right now are trying to complete the recovery of hostages, according to Reuters.
• Israeli Defense Minister said his country can ‘copy and paste’ what it is doing to Hamas onto Hezbollah, according to Spectator Index.
• Syrian air defence intercepted Israeli targets in the vicinity of Damascus, according to the state news agency.
• Yemeni Houthis were reportedly in Oman-mediated talks over ‘operations’ in the Red Sea, according to a Houthi spokesman cited by Reuters.
• Yemeni Houthis said they carried out a military operation against ‘sensitive targets in southern occupied Palestine’ with a large batch of drones, according to a statement.
• Yemen Houthi official said Yemen is ready with all defensive options to respond to any American, Israeli, or Western hostile moves, according to Al Mayadeen TV, and added that any hostile move against Yemen will have dire consequences and great costs.
• USS Carney shot down 14 Houthi armed attack drones on Saturday in the Red Sea, according to Fox’s Griffin.
• UK Defence Minister said a UK navy ship has shot down a suspected attack drone targeting merchant shipping in the Red Sea, according to Reuters.
• Iran executed an “agent of Israel’s Mossad” intelligence service, according to Iranian media.
• Iranian state media and Israeli state media says that ‘predatory sparrow’ hacking group has claimed responsibility for outages at Iranian petrol stations.

OTHER

• US military reportedly plans to resume permanent deployment of fighter jets at an American base in Okinawa but with fewer planes than before, according to Nikkei. The service intends to deploy 36 F-15EX aircraft.
• North Korea fired a long-ranged ICBM overnight, which landed outside of Japan’s EEZ. The North Korean ICBM ballistic missile test could have a range covering all of the US, according to AFP citing Japan.
• North Korea launched a short-range ballistic missile over the weekend, which appeared to have landed outside of Japan’s EEZ, according to the South Korean military and Japan’s Defence Ministry.
• China’s Foreign Minister met with the North Korean counterpart on December 18th, according to Chinese state media.
• US Secretary of State Blinken said the Hong Kong national security law changes unjustly target overseas democracy advocates, including US citizens based in the United States and Hong Kong, according to Reuters.
• US approved the possible sale of command, control, communications, and computer support to Taiwan’s de facto embassy in Washington for USD 300mln, according to the Pentagon.
• Russian President Putin said Russia has no interest in fighting with NATO, according to Reuters.

CRYPTO

• Bitcoin is a touch softer and has lost the USD 41k handle with specifics for the Crypto space light. As such, BTC remains within the boundaries of the last two weeks and continues to give back the pronounced gains from the first few sessions of December.

APAC TRADE

• APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break.
• ASX 200 saw losses in the Gold and Energy sectors somewhat cushioned by modest gains in Tech.
• Nikkei 225 fell at the open with the deepest losses seen in Real Estate and Financial stocks, although the index trimmed losses after finding support near 32,500, whilst traders also look ahead to the BoJ announcement on Tuesday.
• Hang Seng and Shanghai Comp were lower with the former seeing losses in Financials and Property stocks, whilst the latter was initially cushioned with PBoC resuming cash injections via 14-day reverse repos to meet year-end liquidity demands.

NOTABLE HEADLINES

• China’s economy in 2024 faces more opportunities than challenges, and favourable conditions are stronger than unfavourable factors, according to state media.
• China’s Central Finance office said there are blockages in the economic cycle domestically, demand is insufficient, and consumption and enterprise investment willingness are not strong enough, according to state media. Issuance of an additional CNY 1tln of Treasury bonds this year, as well as cuts in interest rates, tax and fee cuts, and other policy effects, will continue into next year. Click here for the detailed headline.
• A growing number of Chinese chip design firms are reportedly tapping Malaysian Cos to assemble a portion of their high-end chips, in a bid to hedge risks of US-expanded sanctions on China’s chip industry, according to Reuters sources.
• PBoC injected CNY 184bln through 7-day reverse repos at 1.80% and CNY 60bln via 14-day reverse repos at 1.95%; both rates were maintained, according to Reuters.
• Hong Kong Chief Executive John Lee will provide updates on political and economic situation of Hong Kong in a meeting with Chinese President Xi and Premier Li on Monday afternoon according to SCMP sources.
• A Chinese developer partially owned by the city of Shenzhen warned it can’t pay interest due Wednesday, according to Bloomberg.
• Japan’s Keidanren Chief Tokura says the BoJ should normalise monetary policy as soon as possible; big wage hike should not be a one-off.

DATA RECAP

• New Zealand Westpac Consumer Survey 88.9 (Prev. 88.9); Performance of Services Index (PSI) 51.2 (Prev. 49.2)

2C ASIA AFFAIRS

MONDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 11,75 PTS OR 0.40%  //Hang Seng CLOSED DOWN162,76 PTS OR 0.97%           /The Nikkei CLOSED DOWN 211.59 PTS OR 0.64% //Australia’s all ordinaries CLOSED DOWN 0.16 %   /Chinese yuan (ONSHORE) closed UP AT 7.1350   /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1365 /Oil UP TO 71.84 dollars per barrel for WTI and BRENT  UP AT 77.18/ Stocks in Europe OPENED ALL RED EXCEPT LONDON// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER

2 d./NORTH KOREA/ SOUTH KOREA/
//

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

3 CHINA

CHINA

The central bank of China injects a record liquidity as its housing sector is in disarray and their retail sales report disappointed

(zerohedge)

PBOC Injects Record Liquidity As China Retail Sales Disappoint, Investment Slows

THURSDAY, DEC 14, 2023 – 10:13 PM

On the back of mixed PMI and trade data, deeper price deflation, and slightly weaker-than-expected credit data, November activity data painted a mixed picture for the Chinese economy, as a rebound from restrictive Zero-COVID policies continues to be weaker than expected (exacerbated by a deepening property crisis).

Earlier in the month, China’s CPI showed a greater deflation than expected (the largest deflation since the GFC)…

Then, last night saw November’s new RMB loans and TSF data came in below expectations, and the composition of loans data showed soft credit demand…

Bill financing continued to grow faster than corporates’ medium to long term loans. Households’ medium to long term loan growth also slowed in November from October on the back of weak property transactions.

Which brings us to tonight’s macro data smorgesbord of good, bad, and ugly data.

• China Nov. Industrial Output Rises 6.6% Y/Y; Est. 5.7% – BEAT
• China Nov. Retail Sales Rise 10.1% Y/Y; Est. 12.5% – MISS
• China Jan.-Nov. Fixed Investment Rises 2.9% Y/Y; Est. 3% – MISS
• China Jan.-Nov. Property Dev. Investment -9.4% Y/Y, Down from -9.3% Y/Y
• China’s surveyed jobless rate ticks along at 5.0% (low/strong – the same as in October) while the country refuses to disclose the youth unemployment rate (which had soared to a record over 20% before the data was banned).

As Bloomberg notes, there are a lot of questions about how comprehensive and accurate the jobless data is, with alternative data showing the situation is actually getting worse.

So, industrial output growth was stronger than expected in November, but housing worsened – residential property sales shrank 4.3% for the first 11 months of the year.

Finally, the NBS also released home price data today, which showed no improvement.

Second-hand home prices were down 0.79% in November from October, while new home prices in the top 70 cities were down 0.37% – the sixth straight month of falls.

All of which combined is perhaps why China’s central bank decided to inject the most cash via one-year policy loans on record.

PBOC offered commercial lenders 1.45 trillion yuan ($204 billion) via its medium-term lending facility (that is a net 800 billion yuan more than the expected maturity this month).

“MLF injection is much larger than expected, so it suggests continued easy monetary policy,” said Becky Liu, head of China macro strategy at Standard Chartered.

This likely means China won’t cut the reserve-requirement ratio for banks anytime soon.

China appears to believe discussing the weakness in its economy is a PsyOp as the Ministry of State Security said, in a post this morning on its official WeChat account ahead of the data:

“Clichés intended to undermine China’s economy are essentially aimed at constructing a ‘discourse trap’ and ‘cognitive trap’ about the false narrative that China is in decline, so as to attack and negate the socialist system to contain and suppress China.”

In the post, the ministry also went on to criticize some people “with ulterior motives” for fabricating false narratives such as China is “replacing development with security,” “squeezing out foreign investment” and “suppressing private enterprises,” saying their purpose is to disrupt market expectations and order to block good momentum for China’s economic growth.

You mean like “bidenomics” being awesome except for the collapse in consumer confidence and Biden’s approval rating?

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

IDF arrests 90 Hamas terrorists in Gaza hospital operation

Within the hospital, the Shin Bet took field investigators and interrogated employees who admitted that there were weapons hidden in the baby ward inside incubators

By JERUSALEM POST STAFFDECEMBER 16, 2023 20:36

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IDF arrests 90 terrorists in the Gaza Strip on December 16, 2023(photo credit: IDF SPOKESMAN’S UNIT)

An operation near the Hamas compound in Kamal Adowan Hospital in Jabaliya came to a close Saturday, leading to arrests and seizure of weapons, according to the IDF.

In recent days, the forces of the 460th Brigade Combat Team in the 162nd Division have been operating in the area, leading fighters to arrest about 90 terrorists in the area.

Some of those arrested participated in the October 7 massacre.

end

Israel Resuming Hostage Talks After Ugly Details Emerge Of ‘Friendly Fire’ Incident

SATURDAY, DEC 16, 2023 – 11:05 AM

Israel’s Mossad spy agency director David Barnea has been dispatched back to Doha amid reports that the Netanyahu government is open to pursuing a second temporary truce and hostage deal. 

Axios describes it as “the first meeting between senior Israeli and Qatari officials since the collapse of the seven-day ceasefire that led to the expansion of the Israeli military operation to southern Gaza.” Looming in the background is intensifying pressure on Prime Minister Netanyahu in the wake of Friday’s ‘friendly fire’ incident which killed three hostages who had been trying to escape Hamas captivity.Image via EuroNewsalks are “just a beginning” is is likely to be “long, difficult and complicated” – according to a source speaking to Axios. CIA director Bill Burns and Egyptian intelligence chief Abbas Kamel are also said to be part of efforts to revive talks. Netanyahu has repeatedly vowed to complete Gaza operations which have the aim of eradicating Hamas.

But already at a time that hostage and victim’s families have led huge protests demanding more be done to secure the release of the over 100 captives that remain, both domestic and international pressure is at breaking point.

The new to emerge details made known by a preliminary military investigation are very ugly and will drive controversy against military and government decision-makers into overdrive. The three young men killed by IDF troop fire were shirtless, waving a white-flag and shouting in Hebrew when they were gunned down by Israeli forces. According to the Times of Israel based on military statements:

Three hostages shot dead by Israeli troops in Gaza City’s Shejaiya neighborhood Friday were shirtless, and one of them was carrying a stick with a makeshift white flag, the IDF said Saturday after an initial probe into the tragic incident.

Yotam Haim, Samar Talalka and Alon Lulu Shamriz managed to escape Hamas captivity before they were mistakenly shot dead by troops on Friday morning at around 10 a.m.

According to a senior officer in the Southern Command, citing an initial probe, the incident began after a soldier from Bislamach Brigade’s 17th Battalion stationed in a building identified three suspicious figures exiting a building several dozen meters away.

(L-R) Yotam Haim, Samar Talalka and Alon Lulu Shamriz

The details of what happened next get worse from there:

The soldier, who believed the men moving toward him was an attempt by Hamas to lure IDF soldiers into a trap, immediately opened fire and shouted “terrorists!” to the other forces.

According to the probe, that soldier killed two of the men, while the third man, who was hit and wounded, fled back into the building from which he came.

At that stage, the commander of the battalion, who was also in the multi-story building where the soldier had fired from, went outside and called on the forces to stop shooting.

Even at that point, the third hostage was still alive and began trying to communicate in Hebrew, something which would have been extremely unusual if it had been a Palestinian or Hamas fighter:

Meanwhile, sounds of someone — apparently the third hostage — shouting “Help” in Hebrew were heard by troops in the area.

Moments later, the third man came out of the building to which he had fled, and another soldier opened fire at him, killing him.

It was only in the aftermath that a battalion commander suspected the three men may have been Israeli captives, and their bodies were later positively identified in Israel.

The IDF immediately sent out new protocols to all its forces operating in the Gaza Strip, after apparently troops were not prepared for the possibility that hostages may be encountered on the battlefield.

“There is a possibility that hostages were abandoned or escaped, and forces should be aware of the possibility of such an encounter and pay attention to tell-tale signs, such as speaking in Hebrew, raising hands, and clothing,” the new protocols state. Hamas has begun releasing gruesome videos (warning: disturbing and graphic) purporting to show Israel’s aerial bombardment killing hostages held in locations on the ground.

The whole tragic and horrific episode suggests that at least in many cases, inexperienced infantry forces are essentially shooting at anything that moves in this intense urban warfare environment – also fearing the kind of surprise guerrilla ambushes Hamas has been known for.

Controversy and criticism raging over the IDF’s tactics and strategy…

As for the potential for this incident to hasten negotiations along with the aim of securing freedom for more hostages, Hamas too says it is open. In the first truce which ended two weeks ago Hamas received hundreds of Palestinians from Israeli prisons. “We are open to discuss any arrangement or initiative that could end the (Israeli) aggression,” Haniyeh said in a televised speech on “Al-Aqsa TV” channel.

The prior truce reportedly wasn’t extended and collapsed as Israel complained Hamas was seeking to separate children from their mothers, and that it was refusing to handover more women captives, as well as the youngest child – an infant.

END

Suitcases with over $1 million found in home of senior Hamas member

Since the start of the war, the IDF has intercepted over 100 aerial threats, including drones and cruise missiles.

By JERUSALEM POST STAFFDECEMBER 18, 2023 12:50

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Suitcases of cash found in the home of a senior Hamas member in Gaza. December 18, 2023(photo credit: IDF SPOKESPERSON’S UNIT)

Suitcases with funds amounting to over NIS 5 million (about $1.3 million) were found in the home of a senior Hamas member in the Jabalya area, the IDF Spokesperson’s Unit said on Monday.

Additionally, many weapons were found by soldiers from the 551st Brigade in the Hamas member’s home.

Overall, the IDF struck over 150 terrorist targets throughout the Gaza Strip on Sunday.

In one instance, the 646th Brigade targeted terrorist infrastructure where many weapons were found, including explosives, combat equipment, and RPGs. A stockpile of mortars and ammunition was also found in the same structure.

In Khan Yunis, the Air Force spotted a suspicious cell entering terrorist infrastructure and struck the cell, eliminating it.

END

Times of Israel

Gaza war claims lives of five soldiers amid battles for Hamas strongholds

Some $1.36 million in cash found in suitcases at home of Hamas official in northern Gaza; number of airstrikes falls; Pentagon chief visits to press for narrowing offensive

L-R: Sgt. First Class Urija Bayer, Sgt. First Class Liav Aloush, Master Sgt. (res.) Etan Naeh, Master Sgt. (res.) Tal Filiba, Sgt. First Class (res.) Lidor Yosef Karavani who were killed in fighting in the Gaza Strip on December 17, 2023 (courtesy)

Four troops were killed in fighting in Gaza and another soldier died of his wounds, the army announced Monday, as Israel’s military extended its thrust into battle-hardened Hamas strongholds on opposite ends of the enclave, seizing weapons and suitcases stuffed with over $1 million in cash.

The five deaths Sunday raised the military’s death toll in Israel’s ground operation in the Gaza Strip to 127, a reminder of the tough opposition faced by troops attempting to topple the Hamas terror group, as Israel continued to reel from the accidental killing of three escaped hostages misidentified as terrorists in a rubble-strewn Gaza neighborhood.

The intense fighting took place as reports swirled of an apparent renewed effort for a fresh hostage release deal and as the UN Security Council prepared to vote on a resolution expected to call for hostilities to cease and hostages held in Gaza to be let go.

Some 128 people remain hostages after being kidnapped by Hamas terrorists who rampaged through southern Israel on October 7 and massacred 1,200 people, sparking the war.

The IDF said three soldiers were killed during fighting Sunday in southern Gaza, where troops have concentrated on taking control of Khan Younis. Some of the terror group’s senior officers are thought to have fled to the southern metropolis from Gaza City amid the IDF’s campaign in the northern Gaza Strip, where battles were also continuing.

The three fatalities were named as Sgt. First Class Liav Aloush, 21, a commando in the Duvdevan unit, from Gedera; Master Sgt. (res.) Etan Naeh, 26, a commando in the the Duvdevan unit, from Kibbutz Sde Eliyahu; and Master Sgt. (res.) Tal Filiba, 23, of the Combat Engineering Corps’ Yahalom unit, from Rehovot.

In northern Gaza, Sgt. First Class (res.) Lidor Yosef Karavani, 23, of the Combat Engineering Corps’ 8163rd Battalion, from Eilat, was killed.

In northern Gaza, Sgt. First Class (res.) Lidor Yosef Karavani, 23, of the Combat Engineering Corps’ 8163rd Battalion, from Eilat, was killed.

Additionally, the army announced that Sgt. First Class Urija Bayer, 20, a commando in the Maglan unit, died of wounds sustained in fighting in southern Gaza on December 14.

Friends attending the funeral of 26-year-old Alon Shamriz mourn over the grave of a victim of the Oct. 7th attack buried in the same cemetery in Kibbutz Shefayim, Israel, Sunday Dec. 17, 2023. (AP/Ohad Zwigenberg)

Bayer, an Evangelical Christian who volunteered with the IDF, was from Ma’alot Tarshiha, where his family has for decades run an old age home for Holocaust survivors. The home, as well as a free guesthouse for survivors in Nahariya, was founded by Bayer’s German grandparents, who wanted to atone for their country’s sins.

Aloush’s mother, a retired IDF casualty assistance officer, told the Ynet news site that she had not spoken to her son for at least two weeks.

“I didn’t want to get that knock on the door. To get the most terrible news after in the past you were the one assisting bereaved families,” she said. “Liav lived voraciously, he didn’t rest for a second. He had a good life, it’s just a shame it was so short.”

Israeli troops in the Gaza Strip in a photo released December 18, 2023 (Israel Defense Forces)

Two reservists were also seriously wounded in fighting Sunday.

The army said Monday morning it carried out strikes against some 150 sites across Gaza over the past day, including airstrikes in Khan Younis on a Hamas cell identified by a drone and on a sniper spotted by troops on the ground.

The number of daily airstrikes, which regularly climbed above 500 in the early days of the war, has steadily declined in recent weeks as the ground offensive has expanded, with the IDF controlling large swaths of the enclave.

Israel has come under increasing pressure from the US to lower the intensity of its offensive soon and shift to a more focused campaign to eliminate Hamas, the terror group ruling the Strip since 2007.

US Defense Secretary Lloyd Austin and Joint Chiefs Chairman Gen. CQ Brown arrived Monday in Israel, where they were expected to press Jerusalem on making the transition to targeted operations aimed at killing Hamas leaders, destroying tunnels and rescuing hostages.

Israel embarked on its campaign against Hamas following the October 7 massacre, when some 3,000 terrorists burst across the border into Israel from the Gaza Strip by land, air and sea, killing some 1,200 people and seizing over 240 hostages of all ages, mostly civilians.

More than 18,700 Palestinians have been killed in the fighting, according to Hamas health authorities in Gaza, which has said most are women and minors. Gaza health officials do not differentiate between civilian and combatant deaths, and the numbers are thought to include those killed by errant Palestinian rockets aimed at Israel.

Israeli military vehicles operate inside Gaza Strip, as seen from southern Israel, Sunday, Dec. 17, 2023. (AP/Ariel Schalit)

Israel said earlier this month that it had killed some 7,000 Hamas operatives, and admitted that many civilians had also been killed, blaming Hamas for using them as human shields. It has taken pains to move civilians away from combat zones, publishing maps of safe areas and opening escape routes.

A senior Hamas health official told al Jazeera on Sunday that 110 people had been killed in a strike in northern Gaza’s Jabaliya, on the outskirts of Gaza City, one of a handful of areas in northern Gaza where intense fighting has persisted. The claim could not be independently verified.

The IDF said troops found suitcases stuffed with some NIS 5 million ($1.36 million) in the home of a senior Hamas member in Jabaliya, as well as weapons.

Cash seized at the home of a senior Hamas member in northern Gaza’s Jabaliya, in a handout image published by the IDF, December 18, 2023. (Israel Defense Forces)

Despite the US pressure, Prime Minister Benjamin Netanyahu’s war cabinet has vowed to continue fighting until Hamas has been crushed. Complicating those promises, however, are increasingly loud voices in Israel demanding a deal to release the remaining approximately 128 hostages still in Gaza captivity.

Those calls were bolstered over the weekend by the accidental killing of Avi Shamriz, Yotam Haim and Samar Fouad Talalka, three hostages who managed to escape their captors, but who were shot as they approached troops.

A previous weeklong truce deal saw over 100 civilian hostages released from Gaza and 240 Palestinian prisoners released from Israel. Qatar-mediated talks for a new deal are seemingly starting up again, with Mossad chief David Barnea widely reported to have met with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Norway on Friday night to discuss the possibility of a new agreement.

A rally calling for the release of Israelis held hostage by Hamas terrorists in Gaza, at Hostages Square in Tel Aviv, December 16, 2023. (Avshalom Sassoni/Flash90)

Citing two sources, the Wall Street Journal said that the talks “are just the beginning” and that the process would be “long, difficult and complicated.”

With the international community increasingly backing calls for a ceasefire, the UN Security Council was set to vote Monday on a UAE-sponsored resolution calling for an “urgent and sustainable cessation of hostilities to allow safe and unhindered humanitarian access in the Gaza Strip” and the “immediate and unconditional release of all hostages.”

Like a previous US-vetoed resolution demanding a ceasefire on December 9, the new draft text too does not explicitly name Hamas but does vaguely condemn “all indiscriminate attacks against civilians.”

The killing of the escaped hostages underlined the complexity involved in fighting in Gaza’s dense urban environment, where troops have been told to be wary of booby traps and surprise attacks by gunmen emerging from the vast network of tunnels running under the Strip.

Israeli soldiers are seen in a tunnel that the military says Hamas terrorists used to attack the Erez crossing in the northern Gaza Strip, December 15, 2023. (AP Photo/Ariel Schalit)

On Sunday, the army revealed a massive tunnel running some four kilometers (2.5 miles) 50 meters (165 feet) underground, with enough room for a car to drive through. It said the tunnel, discovered near the Erez Crossing in northern Gaza, is the largest ever found.

Last week, the IDF announced that soldiers had discovered more than 800 tunnel shafts in the Strip since the beginning of the ground offensive targeting Hamas that began in late October, some 500 of which had already been destroyed.

The IDF has also carried out a successful trial of pumping seawater into the vast network of tunnels beneath Gaza, a move aimed at destroying the Palestinian terror group’s subterranean network of passages and hideaways and at driving its operatives above ground.

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UPDATE THIS AFTERNOON:

IDF Duvdevan troops destroy Hamas tunnels, eliminate terrorists in Khan Yunis

During Duvdevan operations in Khan Yunis, an explosive device killed three soldiers.

By SAM HALPERN

Over the past two weeks, the IDF’s Duvdevan unit was among those who smashed through Hamas’s Khan Yunis Brigade’s defense lines, penetrated into the Hamas stronghold, and engaged terrorists in the heart of the city, the IDF said on Monday.

The IDF described Khan Yunis as Hamas’s governmental and military “center of gravity.”

While operating in the area, Duvdevan troops have struck targets with precision missiles and directed air strikes. They’ve also destroyed terror infrastructure and eliminated Hamas terror cells in the city.

https://player.jpost.com/public/player.html?player=jpost&media=3640335&url=www.jpost.comIDF Duvdevan troops operate in Khan Yunis. December 18, 2023. (Credit: IDF)

The Duvdevan soldiers, along with engineering forces and the Oketz special forces canine unit, swept the area and uncovered a system of Hamas tunnels and shafts.

During the IDF operations, Hamas fighters emerged from these tunnels and fired at the Israeli forces. IDF Duvdevan troops operate a drone in Khan Yunis. December 18, 2023. (credit: IDF)

IDF destroys Hamas tunnels

The IDF personnel responded with fire, successfully eliminating the terrorists before demolishing the tunnel system.

The Israeli troops also found and destroyed a facility dedicated to drone production. They also destroyed a number of rocket launchers aimed at Israel.

Over the course of one of these raids, the Duvdevan troops encountered an explosive device which, upon going off, resulted in the deaths of Sergeant-Major Liav Aloush and Staff-Sergeant-Major Etan Naeh.

The explosion also killed Staff-Sergeant-Major Tal Filiba of the Yahalom unit of the Combat Engineering Corps.

The IDF announced the names of these three soldiers, along with the name of Sergeant-Major Urija Bayer, as the most recent IDF soldiers killed on Monday morning.

Bayer was a soldier in the Nahal Brigade’s Maglan special forces unit and a German Evangelical Christian who chose to volunteer in the army.

Another Duvdevan soldier was seriously wounded.

In response, the Duvdevan troops directed combat helicopters and attacked the area until it was destroyed.

Maayan Jaffe-Hoffman contributed to this report.

Go to the full article >>

Maher: “It’s Hard To Negotiate When The Other Side’s Position Is – You All Die And Disappear”

MONDAY, DEC 18, 2023 – 04:33 AM

Comedian Bill Maher discussed the Israel-Hamas conflict on Friday, suggesting that Palestinians get used to the fact that Israel isn’t going anywhere, and there’s no way for Israel to negotiate with Palestine in good faith when the other side’s position is “you all die and disappear.”

“Things change. Countries, boundaries, empires,” said Maher, citing various historical instances where other groups of people accepted regional defeat and moved on. “In 1950, the little town of Bethlehem was 86 percent Christian, now it’s overwhelmingly Muslim.”

While failing to address international calls for Israel to dial back civilian deaths in dealing with Hamas (out of optics, not genuine concern – we assure you), Maher’s position is essentially – deal with it.

“After World War II, 12 million ethnic Germans got shoved out of Russia, and Poland, and Czechoslovakia because being German had become kind of unpopular,” Maher continued. “People get moved, and yes, colonized. Nobody was a bigger colonizer than the Muslim army that swept out of the Arabian desert and took over much of the world in a single century.”

He also noted that there were several missed opportunities for deals with Israel in years past.

“There were deals on the table to share the land called Palestine… And East Jerusalem could have been the capital of a Palestinian state that today might look more like Dubai than Gaza,” Maher pointed out, noting that “Arafat was offered 95 percent of the West Bank, and said no.”

Maher then used a map to show how the slogan “from the river to the sea” is a call for either the death of all Jews, or at minimum – to move all of them out.

“Look at what Mexico used to own… but no Mexican is out there chanting, ‘From the Rio Grande to Portland, Oregon.‘”

“Get used to it…”

After laying out historical examples, Maher got to his point – that Israel isn’t going anywhere, noting that it’s “one of the most powerful countries in the world with the 500-billion-dollar economy, the world’s second largest tech sector after Silicon Valley, and nuclear weapons. They’re here, they like their bagel with a shmear, get used to it.“

Watch:  https://www.zerohedge.com/political/maher-its-hard-negotiate-when-other-sides-position-you-all-die-and-disappear

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Chris Cuomo on October 7 massacre: ‘It was absolutely genocide’

This monologue comes at a time when sympathy towards Israel in the United States is waning, with massive pro-Palestinian protests across the country. 

By JERUSALEM POST STAFFDECEMBER 15, 2023 22:36

In a nine minute monologue, Chris Cuomo reacts to a screening of the raw footage of the October 7th massacre, relating it to the September 11 terror attack in New York, saying that it was “absolutely genocide.”

Chris Cuomo begins his monologue stating that although he had already seen footage from October 7, much of the footage was new to him. It immediately reignited a past trauma of exactly what he had felt when he learned that  9/11 had happened.

He says, “Terrorists targeted the Twin Towers and Washington, DC to take out the great symbols that represent America,” – that there was a methodology behind the madness. 

He equates this methodology to that of Hamas, saying that Hamas targeted children, women, innocence, and more, tied them up and burned them alive, just like the Holocaust, to bring up the ultimate fear of what the world could do to the Jewish people again. 

The message Hamas wanted to send to Israel is that the Jewish people are less than human and can be treated that way. He says that, “I had seen that bodies had been burned, but I did not understand or appreciate how intentional the effort was, they did it methodologically.”PRO-PALESTINIAN/anti-Israel groups hold a demonstration across from the Washington Monument, earlier this year. A sign reads: ‘From the river to the sea, Palestine will be free.’ (credit: Sabrina Soffer)

Cuomo proceeds to discuss the carnage he saw in the videos of the terrorists gleefully shooting innocent people, who were running and screaming for their lives. Cuomo says this was “absolutely genocide” and that by taking such actions, Hamas showed that they absolutely wanted war. 

Cuomo then candidly explains that Israel’s response is not for revenge, but rather is “fueled by the deepest fears of genocide,” because Hamas has already stated that they would do it again. Advertisement

Cuomo finally appeals to those protesting against Israel in the US, saying that it’s very easy to ask for the violence to stop, but that it’s much harder to navigate the questions, “how?” or “why?”

Israeli government spokesman, Eylon Levy, reacted positively to Cuomo’s monologue. He tweeted, “This is an astonishing monologue, straight from Chris Cuomo’s heart after he watched the Hamas atrocity videos and suddenly everything made sense. Please make time to watch this.” 

Waning sympathy for Israelis in the United States

This monologue comes at a time when sympathy towards Israel in the United States is waning, and there are massive pro-Palestinian protests across the country. 

Many US news media talk show hosts have spoken out, primarily condemning Israel’s response towards Gaza recently. As early as October 31, Joy Reid on MSNBC said, “Given that these bombings are being done using our tax dollars, perhaps we should ask some questions.”

In the same segment, she highlighted violence against Palestinians in the West Bank and bombings by the IDF on Gaza, arguing that a speech made by Netanyahu sounded like a call for genocide, and accused Israel of committing war crimes. 

John Oliver, a late night comedian, host of the show, Last Week Tonight by John Oliver, in an episode in early November accused Israel of war crimes and collective punishment, saying, “even if all Palestinians in Gaza did support Hamas – which they do not – the relentless bombings of civilians there would still be abhorrent,” Oliver argued. “Collective punishment is a war crime.”

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Compassion for Palestinians comes easy in West Hartford

Posted bycxpowellDecember 18, 2023Posted inUncategorized

By Chris Powell

Some Jews in Connecticut and around the country are upset with the extent of the destruction Israel is committing in Gaza to uproot the territory’s rulers, the terrorist group Hamas. Participants in a rally in West Hartford last week called for a “ceasefire” and chanted, “Not in my name!”

But Israel isn’t retaliating against Gaza in anyone’s name but its own, and no one in West Hartford has been under rocket fire from Gaza as Israelis have been for years. West Hartford’s compassion for Gazans is easier to come by. 

Yes, the United States provides military assistance to Israel, for which the participants in the West Hartford rally may feel responsible. But then the United States also long has provided “humanitarian” aid to Gaza, which, like the “humanitarian” aid long provided by the United Nations, has enabled the Hamas government to divert Gaza’s resources away from the territory’s people and toward constant war. This aid also has let Gazans think they are not responsible for their government and its longstanding pledge to destroy Israel.

Connecticut columnist Red Jahncke minimizes that pledge. The Hamas platform, he writes, “has never been tested against a reality of Palestinian civilians achieving and enjoying genuine freedom.”

Jahncke is right if he means that no Arab country has ever been free as Americans understand freedom. But he’s wrong if he means that Palestinians living adjacent to Israel have never been free of Israeli occupation. They were free of Israeli occupation prior to 1967, living under Egyptian and Jordanian government until Israel’s Arab neighbors went to war against the Jews again. And Gazans were free of all occupation in 2005 when Israel withdrew from the territory and Yasser Arafat’s Palestine Liberation Organization took over.

A year later Gazans had an election in which they rejected the PLO’s Fatah faction and installed Hamas, despite or maybe because of its genocidal pledge. That was the last election held in Gaza. In the West Bank, where the corrupt Fatah faction still holds local authority, the first and last election was held in 2005. It is not Israel that is preventing another election there but Fatah, and if there was another election, Hamas almost certainly would win it despite the destruction it has brought on Gaza.

Indeed, a recent poll of Palestinians in the West Bank and Gaza found three-quarters of them opposed to accepting Israel. 

That’s why the “two-state solution” has become ridiculous. Through the years Israel repeatedly accepted it just as the Palestinians repeatedly rejected it and still do. President Clinton got Israel to accept a settlement plan that gave Arafat and the PLO nearly everything they demanded, yet they refused — probably because they knew that any Palestinian leaders who settle with Israel will be assassinated by Palestinian irreconcilables just as the peace-favoring Israeli prime minister, Yitzhak Rabin, was assassinated by a Jewish irreconcilable.

Yet prior to last October 7 most Israelis still favored a “two-state solution.” Now few do, and most may not care how heavy-handed their military gets in Gaza nor how badly Israeli settlers abuse Palestinians in the West Bank. Why bother being decent with an adversary pledged to destroy you no matter what?

The peace advocates in West Hartford and elsewhere are evasive and dishonest in calling for a “ceasefire.” Israel has had many “ceasefires” with Gaza over the years and they all ended with more rockets being fired into Israel. No one among the peace advocates in West Hartford called for a ceasefire when Israel was being attacked. A ceasefire has become desirable only now that Israel is defending itself with the overwhelming force and destruction always necessary to win a war.

Why not demand peace itself? That is, why not demand that Gaza raise up a government repudiating Hamas and committing itself to the “two-state solution” most Palestinians still reject? The response to such a call might be illuminating. 

Even now Israel might have trouble rejecting such an offer. But while Gazans are suffering, they are not yet suffering enough to make it. 

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Chris Powell has written about Connecticut government and politics for many years. (CPowell@cox.net) 

END

WEST BANK/ISRAEL

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WEST BANK/ISRAEL

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LEBANON/NORTHERN ISRAEL

end

IRAN/HOUTHIS/ISRAEL/USA//

END

YEMEN/HOUTHIS

END

IRAN/YEMEN USA AND ALLIES

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YEMEN/ISRAEL/USA

UKRAINE/RUSSIA

(zerohedge,com)

Watch: Ukraine Politician Throws Hand Grenades In Town Meeting, Wounding 26

A contentious meeting to discuss a Ukrainian village’s 2024 budget turned to carnage on Friday morning when a politician aligned with President Volodymyr Zelensky dropped hand grenades on the floor, wounding 26 attendees, including himself. The incident took place in the western village of Keretsky — population 4,000 — in mountainous territory near the Hungarian border. 

Ukrainska Pravda has identified the attacker as Serhiy Batryn, a member of Zelensky’s Servant of the People Party. Some outlets say he is a member of the Ukraine parliament, while others identify him as a village council member. Citing a Ukraine Telegram channel, the New York Post reports Batryn was arguing that he and colleagues should be allowed to fully report on this year’s budget before the 2024 budget was discussed.  (z

Bartryn is said to have a long-running, contentious relationship with the village chief — and was opposed to a 2024 budget provision awarding the chief a 50% pay raise and monthly bonus for the duration of the war. The heated meeting was almost an hour and a half underway when Batryn left the room with another man, but then returned alone a few minutes later to stand just inside the doorway.

Video captured the slowly unfolding horror. Pulling grenades from his coat pockets, Batryn seeks the attention of the crowd by asking, “May I? May I?”  While speaking, he pulls the pins from the grenades and casually tosses them to the floor in front of him, in a space between the front row of spectators and the village officials.

The attendees flinch, however, demonstrating normalcy bias — people’s tendency to ignore or disbelieve indicators of danger — almost all of them simply watch as all three grenades are dropped to the floor. One woman can be seen leaning away as if bracing against firecrackers rather than imminent, shrapnel-propelling explosions. Another in the second row merely covers her ears.  

The grenades detonate, and the scene instantly transforms into smoky chaos, filled with shouting and agonized screams. While none have died thus far, dozens were injured. “Twenty-six people were wounded, six of whom are in a grave condition,” police said in a statement reported by BBC. Batryn is said to be among the most seriously injured. 

The bloodshed was first reported to police by a woman who watched it play out on a live broadcast. Police say the grenade attack will be investigated by the Security Service of Ukraine (SBU), a hybrid intelligence and law enforcement entity which also engages in foreign operations, such as last month’s bombing of a rail line in Siberia.   

Other than the war-bonus-dispute, there’s no indication the incident was related to Ukraine’s ongoing war with Russia — that is, beyond the possibility that grenades are far easier to come by as the United States and Western allies pour billions of dollars of weaponry into Ukraine, with many critics saying there are insufficient controls in place to ensure they aren’t diverted from the war effort and into the black market. 

END

I am sure that Russia will not be too pleased with this:

(zerohedge)

G7 Closer To Giving $300BN In Seized Russian Assets To Ukraine After Orban Blocked EU Funds

MONDAY, DEC 18, 2023 – 05:45 AM

Group of Seven member states are moving closer to approving a controversial plan that would funnel some $300 billion of Russia’s seized central bank and other sovereign assets (such as some oligarchs’ superyachts) which have been “immobilized” in Europe to give to Ukraine.

“G7 members and other specially affected states could seize Russian sovereign assets as a countermeasure to induce Russia to end its aggression,” a US policy paper being considered by the G7 states.

The Financial Times aptly described the proposal as constituting “a radical step that would open a new chapter in the west’s financial warfare against Moscow” – also as certainly Moscow would see it as brazen theft.Getty Images

While neither the White House nor US Treasury has openly affirmed that this is the US stance, the FT noted US officials are actively engaging G7 countries to see it through.

“A US official said Washington was engaged in active conversations on the use of Russian sovereign assets and believed there was a short timeline to make a decision,” FT details. “They suggested it could be discussed at a possible G7 leaders’ meeting to coincide with the second anniversary in February of Russia’s full invasion of Ukraine.”

It seems war fatigue and a sudden slowdown in funding for Kiev has prompted Washington and G7 partners to “get creative”. Two things happened this past week, which was certainly a “bitter week of disappointment” for Zelensky…

• Republicans in Congress have blocked Biden’s efforts to get an over one hundred billion foreign defense aid package pass.
• Hungary’s Viktor Orbán blocked an EU funding package for Ukraine worth €50bn ($54bn), which came the same day Hungary abstained from a vote on starting formal EU membership talks for Ukraine.

Orban had written on social media: “Summary of the nightshift: veto for the extra money to Ukraine.” He had for weeks promised to also block the start of EU accession talks, so it seems blocking the funds was an effort to show his supporters he didn’t back down (completely).

Putin meanwhile on Thursday had mocked the whole situation, telling Ukraine that its Western “freebies” were running out.

Meanwhile, further quid pro quo might eventually serve to unblock the EU funds for Ukraine…

Ukraine reportedly needs to EU funds in order to keep basic state services afloat, including paying teachers, civic workers, and maintaining pensions – among other things.

Lt Col Richard Hecht

Sinwar’s Subterranean Network

Terror Tunnels Near a Humanitarian Crossing

LT. COL. RICHARD HECHTDEC 17

READ IN APP

Today, we are exposing one of Hamas’ largest tunnel systems to date, built – very intentionally – ominously close to the Erez Humanitarian Crossing, a vital artery for Gazans who crossed there to receive medical care or enter Israel for employment.

This discovery underscores a harrowing reality: Hamas regularly, routinely and quite deliberately prioritizes its terror infrastructure over the welfare of its own people.

For many of us, national infrastructure projects are hospitals, transportation networks, or investments in supply chains.

For Hamas, it’s terrorism.

And like in real estate, the location here speaks louder than anything else.

Before you continue, if this is your first time reading this, why not subscribe?

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Erez Crossing: A Beacon of Hope

Erez Crossing has long stood as a symbol of hope and coexistence. 

In 2022 alone, it saw over 800,000 people crossings between Gaza and Israel. 2023 – at least until October 7th, was on track to surpass this figure. This provided direct support to the Gaza economy too – the average salary of Gazan workers in Israel is six times higher than in Gaza and about 18,500 Gazans held work permits to work in Israel, highlighting the crossing’s critical economic importance.

Yet, Hamas, with its relentless focus on terror tactics, undermines these opportunities, seeing the crossing as a weak point for infiltration instead of a source of strength for coexistence.

But before we get to the tunnel, Hamas made it clear that it saw Erez as a point of entry into Israel on October 7th. 

Erez: the Turning Points and Tragedy

On that deadly day, the crossing was used as one of the points of infiltration by Hamas terrorists. The parallel – a crossing dedicated to humanitarian crossings being used as an attack – is stark. 

This has a very real cost for Israelis too.

Only last week, the IDF announced that it had recovered the remains of two 19-year-old IDF soldiers who were abducted in the attack on Erez –  CPL Nik Beizer and SGT Ron Sherman. 

This act not only highlighted Hamas’ cruel indifference to human life but also its strategic folly in targeting a facility that serves its own people.

But beneath the surface in Gaza, extending to just a few hundred meters away was a massive network of tunnels, excavated over the course of many years and personally led by the Sinwar family. These tunnels were connected to the broader Hamas tunnel network and even wide enough for a vehicle to drive through.

Today, the IDF exposes this to the world. 

The Tunnel: A Warren of War

When thinking about a terrorist tunnel, it’s easy to picture a small hole, dug with shovels and pickaxes.

But for these tunnels, it’s closer to a subway. Take a look.

The section of the tunnel that we exposed is well over four kilometers (2.5 miles) and reaches up to 50 meters deep. That’s the height of the Statue of Liberty.

This was a project personally overseen and led by the Sinwar family – in fact, we’ve also released a video of Yahya Sinwar, Muhammad Sinwar’s brother, driving through the tunnel in a vehicle. 

This is a massive project that costs millions. Like other strategic tunnels in Gaza, the tunnel near Erez Crossing is equipped with electricity, ventilation, and communication networks, displaying the typical concrete ribbing from other tunnels in Gaza.

Blast doors are spread throughout the tunnel to fight, section by section, and weapons were recovered from within the tunnel.

Over the last few weeks, while securing the tunnel, IDF forces came under attack from these tunnels too. 

This isn’t a fly-by-night operation; in fact, videos we recovered show the extent of the investment here. Hamas used special excavation gear smuggled into Gaza, operated by terrorists from Khan Yunis.

The video below proves that this was a major construction project, all guided by the idea that the Israeli homefront can be best attacked via the humanitarian crossings it operates.

Imagine what Hamas could have accomplished for the people of Gaza if they invested in them instead of investing in terror.

IDF’s Response: Vigilance

The IDF’s response to this threat has been swift and sophisticated. Utilizing advanced technology and ground forces, the IDF has systematically dismantled parts of Hamas’ tunnel network, a clear testament to our unwavering commitment to the safety of Israel and the well-being of innocents in Gaza. Like other tunnels throughout Gaza, we are eliminating the threat that they pose.

Hamas has undermined Gaza with tunnels that are deliberately dug underneath hospitals, mosques, schools and humanitarian sites.

They are there because by endangering Gaza civilians, Hamas can attack Israeli civilians. 

In Conclusion: A Call for Reflection

Humanitarian aid to Gaza follows a path overcast by the shadows of Hamas’ choices – a reality that we, as defenders of our nation and as proponents of human dignity, must tirelessly work to change.

Share this post to show the world where and what Hamas invests in.

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Operational Updates

Gaza Strip:

• Following the tragic incident in which three Israeli hostages were killed by IDF fire last week, the IDF published the details of the preliminary review into the incident and further investigations are continuing. The IDF takes full responsibility for the tragedy and expresses its deepest condolences to the families.
• On Sunday, Israel opened the Kerem Shalom Crossing for the direct transfer of humanitarian aid from Israel into the Gaza Strip.
• The 7th Brigade eliminated Hamas terrorists, located approximately 30 tunnel shafts, and destroyed anti-tank missile and lookout posts in Khan Yunis
• In Jabaliya, the Nahal Brigade located an operational tunnel shaft inside a children’s room in the basement of a building.

Northern Israel:

• On Saturday, an IDF reservist was killed in a UAV attack along Israel’s northern border with Lebanon.
• Ongoing rocket launches from Lebanon toward northern Israel continued on Sunday. The IDF responded to the attacks with strikes on Hezbollah terrorist cells and military infrastructure in Lebanon.

US-Israel partnership:

• On Friday, the Commander of the United States Central Command (CENTCOM), General Michael Kurilla arrived in Israel for an official visit. During his visit, he met with the IDF Chief of the General Staff, and conducted a security situational assessment with the ISA Chief and additional senior officials in the IDF.

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Quote of the Day

Late last week, three Israeli hostages, abducted by Hamas and held in Gaza for over 70 days, were tragically killed by IDF forces. The IDF is conducting a thorough investigation and I, together with the IDF at large, express our deepest remorse. As the Chief of the General Staff, LTG Herzi Halevi, summarized:

The IDF, and I as its commander, are responsible for what happened, and we will do everything to prevent such incidents from recurring in future combat.”

What I’m Reading

Okay, not what I’m reading today. Life must go on, even during war, and today I was pleased to have two new officers who graduated from the IDF Cadet’s Course join the International Media Branch. 

I like to give them a slightly meaningful present when they join…so I chose to give them each a copy of “The Attention Revolution” by Micha Goodman. As he summarizes in another article:

Like David and Goliath, the relationship between human beings and technology is asymmetrical. Technology has proved greater and more powerful than the humans who invented it. Those who imagine that we can protect ourselves from it using willpower alone do not grasp the power imbalance. If our humanity cannot protect itself by defeating technology, perhaps it can defend itself by harnessing technology. Real-world examples include technology installed in vehicles that prevents the driver from texting, surfing the web, or receiving notifications when the car is in motion; and a cell phone jamming technology that creates small zones of quiet at a restaurant or business meeting or family living room. I call these “technologically liberating technologies.”

Here’s to us paying attention to the right things.

end

GLOBAL VACCINE/COVID ISSUES

DR PAUL ALEXANDER:

COVID was 100% a fraud, lie, a PCR-manufactured, a PCR ‘process’ manufactured lie of a pandemic that was NEVER a pandemic, at most an emergency! Bad evil ‘unseen’ players took a circulating BENIGN lab

created ginned up chimeric pathogen (likely with DoD application, understandable), a pathogen that was ALWAYS circulating (Menachery, Baric 2015) used it to topple POTUS Trump with a hobbled response

DR. PAUL ALEXANDERDEC 16

READ IN APP

POTUS Trump is not POTUS today because of the lockdowns, the lockdowns imposed by Fauci and Birx et al. (that he wrongfully allowed to lead the response) hurt him and malfeasant people used the pathogen that they knew existed (IMO was circulating e.g. Diamond Princess, Pelech et al. labs), and used a PCR ‘process’ (PCR was not a diagnostic test, it could not tell you what was the source) overcycled to say most everyone was positive and to drive lockdowns, then vaccines, knowing 95% were false positive for infectious lethal pathogen. We knew of the direct correlation between viral load, Ct, and infectivity, lethality. They needed this foundation to instill fear among the public.

This is why your Ct (cycle count) was not reported in any test you did for they were cycling at 40 and beyond. The key is they knew.

END

Masking Children (COVID ineffective and toxic face masks): Tragic, Unscientific, and Damaging, by Dr. Paul Alexander, Dr. Howard Tenebaum, Dr. Peter McCullough, Dr. Parvez Dara, Dr. Ramin Oskoui, Dr.

Harvey Risch; We knew children did not readily acquire SARS-CoV-2 (very low risk), spread it to other children or teachers, or endanger parents or others at home. This was clear in the science.

DR. PAUL ALEXANDERDEC 16

READ IN APP

Masking Children: Tragic, Unscientific, and Damaging

‘Summary: Children do not readily acquire SARS-CoV-2 (very low risk), spread it to other children or teachers, or endanger parents or others at home. This is the settled science. In the rare cases where a child contracts Covid virus it is very unusual for the child to get severely ill or die. Masking can do positive harm to children – as it can to some adults. But the cost benefit analysis is entirely different for adults and children – particularly younger children. Whatever arguments there may be for consenting adults – children should not be required to wear masks to prevent the spread of Covid-19. Of course, zero risk is not attainable – with or without masks, vaccines, therapeutics, distancing or anything else medicine may develop or government agencies may impose. 

How did this blue surgical mask and white cloth mask come to dominate our daily lives? Well, indeed, the surgical masks and white cloth (often homemade) masks have become the most contentious and quarrelsome symbol and reminder of our battle with SARS-CoV-2 and the disease it causes, Covid-19. The mask has become so politicized that it prevents rational consideration of the evidence (even across political lines) and drives levels of acrimony, invidious actions, disdain, and villainy among wearers to each other who feel threatened by the individual who will not or cannot wear a mask. 

end

Alarming Japanese study finds that 70% of deaths from Pfizer COVID mRNA technology (Malone, Weissman, Bourla, Bancel, Sahin, et al.) occurred within 10 days from vaccine; 2 groups, >65 years & < 64

years; 70% of people who died post mRNA vaccine in Japan died within 10 days post shot! period under study was within 10 days from vaccination (vaccine day day 1); idiosyncratic? vaccine linked?

DR. PAUL ALEXANDERDEC 17

READ IN APP

Study support heavy force of mortality near immediately post vaccination.

‘After BNT162b2 mRNA vaccination, 1,311 deaths were identified in Group 1, including 662 males and 649 females, with a mean (standard deviation) age of 82.8 (8.5) years. A total of 247 deaths were identified in Group 2, with 155 males and 92 females, with a mean age of 47.1 (13.7) years.

end

The percentage of reported cases that experienced death within 10 days after vaccination was 71% in Group 1 and 70% in Group 2 (Figures 1, 2).’

Click to access 20231208-8527-auv0a.pdf

‘This 10-day period was chosen due to the higher frequency of reported deaths during this timeframe [4].

end

‘CDC sounds major alarm as new ‘highly contagious’ Covid variant grips the US – symptoms’; BULLOCLS, BULLSH*T, variant JN.1 to replace HV.1 sub-variant; so!! we have no data to show it is lethal, more

infectious YES, but you morons, your criminals keep bringing boosters that mismatch the dominant spike antigen, do you not get that it drives natural SELECTIVE pressure & will drive more variants?

DR. PAUL ALEXANDERDEC 18

READ IN APP

How stupid are you people? 3 years of this madness and we know exactly what you are doing, you do not want this to stop…if you stop the vaccine, the sub-variants will STOP emerging, you know that too, you are doing this to keep this fraud non-pandemic going, vaccinating with a mismatched vaccine spike while virus is circulating….you continue to place non-lethal pressure on the target antigen…you specious idiot, reckless criminal, all of you at Pfizer, Moderna, PHAC, CDC, FDA, Health Canada, SAGE etc. you do know the result will be variant after variant emerging.

end

SLAY NEWS

The latest reports from Slay News

WEF Demands $3.5 Trillion per Year to ‘Decarbonize’ EarthThe World Economic Forum (WEF) is demanding that taxpayers around the globe pay $3.5 trillion per year in order to meet the globalist organization’s “Net Zero” goal for “decarbonizing” the planet.READ MORE

UFC Star Issues Threat to ‘Spineless’ LeBron James over National Anthem Snub: ‘Go to China… Or Come Deal with Me’UFC star Colby Covington has warned “spineless coward” LeBron James that he should “leave” America and “go to China” or “come deal with me.”READ MORE

Boston’s Democrat Mayor Throws Taxpayer-Funded ‘No Whites Allowed’ Christmas PartyBoston’s radical Democrat Mayor Michelle Wu is throwing a taxpayer-funded Christmas party for city government officials that white people are prohibited from attending.READ MORE

Turkish Lawmaker Dies after Sudden Heart Attack during Anti-Israel SpeechHasan Bitmez, the Turkish lawmaker who suffered a sudden heart attack during an anti-Israel speech this week, has died, according to reports.READ MORE

Jill Biden Mocked as ‘Strange’ over ‘Bananas’ White House ‘Anti-Christmas’ VideoFirst Lady Jill Biden has been widely mocked as “strange” and “bananas” over a “bizarre” video she published to reveal the White House Christmas decorations.READ MORE

Popular TV Anchor Killed after Jumping in Front of Train in PennsylvaniaA popular television news anchor in Erie County, Pennsylvania has died at the young age of 42. READ MORE

Lara Trump Drops Name for Father-In-Law’s Potential 2024 Running MateLara Trump has revealed the name of a potential running mate for her presidential father-in-law, causing considerable controversy.READ MORE

Legal Group Demands Records for Failed Natural Gas Deal Between Biden Family and Chinese OligarchsAn American legal group has filed an official request for public records related to the failed Louisiana natural gas deal between members of Democrat President Joe Biden’s family and Chinese oligarchs.READ MORE

1,200 Tons of Dead Fish Wash Ashore in Japan: ‘I’ve Never Seen Anything Like This’Hundreds of tons of dead fish have been washing ashore in Japan as officials struggle to explain the issue. (HARVEY: FUKISHIMA)READ MORE

Biden Smirks and Winks at Reporters While Refusing to Answer Questions on HunterDemocrat President Joe Biden refused to take questions about his son Hunter and instead winked and smirked at reporters.READ MORE

Jim Jordan: Hunter’s Statement Indicates That Joe Biden Has ‘Been Involved’ in Business DealingsHouse Judiciary Committee Chairman Jim Jordan (R-OH) has stated that Hunter Biden’s scripted speech from outside Congress may have implicated his Democrat president father for having “been involved” in his illegal business dealings.READ MORE

Jewish Comedian Jerry Seinfeld Targeted by Pro-Hamas Protesters: ‘Complicit in Genocide’Legendary Jewish-American comedian Jerry Seinfeld has been targeted by pro-Hamas protesters who accuse the TV sitcom star of being “complicit in genocide.”READ MOREThe latest reports from Slay NewsExperts Raise Alarm about Soaring VAIDS Cases Among VaxxedExperts are raising the alarm over concerns about the rapid increase in the number of vaccinated people now suffering from Vaccine-Acquired Immune Deficiency Syndrome (VAIDS).READ MOREGeorgia Investigating 17,000 Missing Ballot Images from 2020 Presidential ElectionThe Georgia State Board of Elections (SEB) is investigating the bombshell discovery of 17,000 missing ballot images from the 2020 presidential election in the state.READ MOREHunter’s Scandals Are Having a ‘Heavy Toll’ on Joe Biden: ‘It Could Consume Him’Hunter Biden’s legal troubles and mounting scandals are having a “heavy toll” on his father’s health, according to reports.READ MOREGOP Rep. Ferguson Announces Retirement from CongressA U.S. House Republican has just announced that he will be retiring from Congress at the end of his current term.READ MORENew York Republicans Pick Registered Democrat to Run for George Santos’ Seat in CongressRepublicans in New York have nominated a registered Democrat as the GOP’s candidate to run for the seat in Congress recently vacated by former Rep. George Santos (R-NY).READ MOREWhite House Denies Reports of Major Rift Between Biden and HarrisThe White House is denying reports that a major rift has formed between Democrat President Joe Biden and his VP Kamala Harris.READ MORE‘Big Bang Theory’ Actress Diagnosed with Lung Cancer: ‘I’ve Never Smoked a Cigarette in My Life’Actress Kate Micucci has been diagnosed with lung cancer despite having “never smoked a cigarette” in her life. READ MOREBiden’s White House Issues Mandate Forcing Federal Workers to Use EVs, Other ‘Green’ TravelDemocrat President Joe Biden’s White House has issued new guidance that mandates federal workers must use electric vehicles, trains, and “green” public transportation options when conducting official business.READ MOREMark Zuckerberg Plows $100 Million into Building Survivalist Compound in HawaiiMark Zuckerberg, the CEO and founder of Facebook and its parent company Meta, is reportedly building a $100 million survivalist compound in HawaiiREAD MOREDance Group Behind Jill Biden’s ‘Anti-Christmas’ White House Video Promotes ‘Defund the Police,’ Targets White PeopleThe dance company featured in First Lady Jill Biden’s “anti-Christmas” White House video moonlights as a radical “antiracist” activism group that targets white people.READ MORE

The latest reports from Slay NewsTop Expert Warns Public of America’s ‘Staggering’ Excess DeathsA leading expert has appeared on national television to warn the American people about the “staggering” numbers of excess deaths that are being recorded across the country.READ MOREEyeball-Scanning ‘Digital ID’ Integrates with Several Major Online PlatformsAn eyeball-scanning “digital ID” developer has secured deals with several major online companies to integrate the controversial technology into their platforms.READ MORECNN Host Stunned as Data Exposes Reality of ‘Bidenomics’: ‘Depressing’A CNN host was left stunned when the network’s data analyst revealed data that highlighted the true state of the economy under Democrat President Joe Biden.READ MOREStefanik Fires Ethics Complaint at Obama Judge Overseeing Get-Trump CaseHouse GOP Conference Chair Elise Stefanik (R-NY) has just fired a shot at an Obama-appointed judge overseeing cases related to President Donald Trump and Jan. 6.READ MORE30-Year-Old Singer Drops Dead on Stage during ConcertA popular 30-year-old Brazilian singer has dropped dead in the middle of a concert after suffering a sudden massive heart attack on stage.READ MORETop Biden Aid Linked to Radical ‘Climate Security’ Group Pushing EV MandateA top aid to Democrat President Joe Biden is linked to a radical group that lobbies for “climate change” to be classed as a “national security threat,” according to reports.READ MOREJack Smith’s Push to Involve Supreme Court in Trump Case Could BackfireSpecial Counsel Jack Smith has rushed to involve the United States Supreme Court in his politically motivated case against President Donald Trump on behalf of the Democrats.READ MOREBill Clinton Blasted Hillary’s 2016 Campaign: ‘These Eggheads… Don’t Understand Persuasion’A new book has revealed that former President Bill Clinton blasted his wife Hillary’s 2016 election campaign.READ MORESupreme Court Takes Case Challenging ‘Obstruction’ Charge Against Trump, Jan 6 DefendantsThe Supreme Court has agreed to take on a case that seeks to challenge the “obstruction” charge pressed against President Donald Trump and other defendants related to Jan. 6.READ MOREBiden’s Negative Comments about Israel Impacting Morale, Emboldening TerroristsPresident Joe Biden has completely dropped the ball on the Israel-Hamas war both domestically and internationally, according to a new report.READ MOREChicago Mayor Accused of Prioritizing Illegal Migrants over Black Citizens, Homeless VeteransChicago’s radical Democrat Mayor Brandon Johnson has been accused of prioritizing illegal migrants over his “sanctuary” city’s community of black citizens and homeless veterans.READ MOREBlue State Democrats Demand Jail Time for People Caught Using Gas-Powered Gardening ToolsDemocrats in the state of Washington are pushing for members of the public to be jailed for up to one year if they are caught using gas-powered gardening tools.DoorDash Driver Carjacked by 11-Year-Old at Gunpoint in VirginiaA female DoorDash driver has been carjacked at gunpoint by an 11-year-old child in Virginia, according to police.

EVOL NEWS

———- Forwarded message ———
From: Evol News<mail@evol.news>
Date: Thu, Dec 14, 2023 at 17:20
Subject:  MTG Goes SCORCHED EARTH On Hunter Biden In New Viral Video
To: <sabioncello@gmail.com>

MTG Goes SCORCHED EARTH On Hunter Biden In New Viral VideoREAD MORE… LATEST NEWS:Heart Failure Spikes 1000% Among Pilots, Pentagon Data ShowsRead more…House approves impeachment inquiry into Biden after Hunter dramaticsRead more…More Predictive Programming? New Theatrical Film Depicts Civil War And Chaos In The United States * * by DanielleRead more…House Republicans Pass Impeachment Inquiry Resolution to Investigate Biden Family CorruptionRead more…Vincent says NFL officiating a ‘work in progress’Read more…Trump Files Motion To Defend Himself In Lawsuit To Keep Him Off Wyoming’s BallotRead more…The NDAA’s ‘Warrantless Backdoor Surveillance’ of Americans Gets Approved by the SenateRead more…WATCH: CHILLING, President Trump Eulogizes Biden’s AmericaRead more..Giuliani ordered to pay more than $148M to Georgia poll workers he…READ MORE… LATEST NEWS:Pro-Vax Doctor Blows Whistle, Warns Public of ‘Devastating Side Effects’Read more…NY GOP Picks Mazi Melesa Pilip – a Registered Democrat – to Succeed Conservative George Santos to Represent New York’s 3rd Congressional DistrictRead more…BREAKING: Matthew Perry’s Cause Of Death RevealedRead more…Iowa Satanic Temple Issues Statement After Its Statue Deemed ‘Beyond Repair’Read more…New Documents Show FBI Labels Christians As “Potential Terrorists”Read more…Homelessness Soars to Record High in AmericaRead more…Too Funny – CNN Begins Apoplexy Narrative Around “Missing” 10 Inch Declassified Dossier That Details Trump-Russia ConspiracyRead more…Rudy Giuliani Makes Immediate Promise After Being Hit With $148 Million FineRead more….

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

BBC: Covid Shots Behind Historic Sudden Deaths Spike

The British public has been left stunned after the nation’s state-funded new outlet has just exposed the role of Covid mRNA shots in the historic sudden deaths spike seen around the world.READ THE FULL REPORT

Heart Failure Spikes 1000% Among Pilots, Pentagon Data Shows

A massive 1000% spike in heart failures was recorded among active pilots in 2022, new data from the U.S. Department of Defense (DOD) has revealed.READ THE FULL REPORT

The NDAA’s ‘Warrantless Backdoor Surveillance’ of Americans Gets Approved by the Senate

In a last-minute rush to sanction spending before the end of the year, the Senate enacted a $886 billion defense spending proposal Wednesday, sponsored by President Joe Biden, that includes financing for Ukraine, yearly pay hikes for personnel, and most controversially, a reauthorization of the the National Defense Authorization ActREAD THE FULL REPORT

House Republicans Unanimously Vote to Authorize Joe Biden Impeachment Inquiry

House Republicans today unanimously voted to authorize an impeachment inquiry into Joe Biden, with all 221 members voting in favor of the measure.READ THE FULL REPORT

Jim Jordan Zeros In After Hunter Biden Refuses to Testify Privately Before Two House Committees, Vows to Hold Him in Contempt

U.S. House Rep Jim Jordan (R-OH) responded today after Hunter Biden refused to testify privately before two House Committees.READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

Brain Damage Soaring Among Covid mRNA Vaxxed

A major investigation has been launched into Covid mRNA injections as soaring numbers of vaccinated people have been reported with brain damage and neurological issues.READ THE FULL REPORT

WEF Demands Public Pay $3.5 Trillion in Taxes to Fund ‘Anti-Carbon’ Agenda

The World Economic Forum (WEF) is demanding that governments force the public to pay annual taxes of $3.5 trillion to fund the globalist organization’s “Net Zero” objective for planetary “decarbonization.”READ THE FULL REPORT

US Lawmakers Pass Record-Breaking $886 Billion Defense Policy Bill

The Senate authorized a historic $886 billion in military spending for 2024 following the approval of the annual National Defense Authorization Act on Wednesday. The crucial 3,000-page bill, essential for approval, garnered robust bipartisan support in the upper chamber, clearing the Senate with an 87-13 vote. Now it’s on its way to the House, and lawmakers are expected to address …READ THE FULL REPORT

WATCH: Former House Speaker Paul Ryan Claims Trump Is an ‘Authoritarian Narcissist, Not a Conservative’

Former House Speaker Paul Ryan recently conducted an interview, solidifying his image as the anti-Trump critic that many had already perceived him to be. Simultaneously, he described Trump as an authoritarian narcissist and then praised former representatives Adam Kinzinger and Liz Cheney for their anti-Trump stance, portraying a sense of unwavering principles. Is it any surprise that Ryan was unable …READ THE FULL REPORT

CNN Reporter Panics When Vivek Tells Her What Really Happened on January 6

CNN anchor Abby Phillip found herself regretting GOP presidential candidate Vivek Ramaswamy his opinion about what really happened on January 6. Ramaswamy was fielding questions at a CNN town hall at Grand View University in Iowa on Wednesday night when Phillip broached the matter of his recent comments about the Capitol riots and sought for him to clarify his view …READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

WEF Plotting Cyber Attack to Block 2024 Election

The World Economic Forum (WEF) and deep state operatives in the United States are planning to launch a false flag cyber attack in order to seize control of the presidential election and stop President Donald Trump from returning to power.READ THE FULL REPORT

Pro-Vax Doctor Blows Whistle, Warns Public of ‘Devastating Side Effects’

A pro-vaccine doctor has had a crisis of conscience and has just gone public to blow the whistle and warn her fellow citizens about the “devastating side effects” of Covid mRNA injections.READ THE FULL REPORT

Legal Scholar Says KJP’s “Breathtaking Mistake” Revealed Potential Impeachable Offense for President Biden

In an Op-Ed for The Messenger, constitutional law professor Jonathan Turley revealed what he called a “breathtaking mistake” by White House Press Secretary Karine Jean-Pierre. It was a blunder that might find Joe Biden in hot water. In response to Hunter Biden’s midday press conference, held strategically on the Senate side of the Capitol, in which Biden announced his intention …READ THE FULL REPORT

GOP Senator Katie Britt Proposes New Bill That Empowers States to Confirm U.S. Citizenship of Applicants Registering to Vote via Mail

Republicans on the Senate Committee on Rules and Administration, under the leadership of Senator Katie Britt (R-AL), have proposed a bill that empowers states to confirm the U.S. citizenship of individuals registering to vote by mail. This week, Senator Britt and her fellow Republicans introduced the “Citizen Ballot Protection Act,” aiming to grant states enhanced capabilities to ensure accurate verification, …READ THE FULL REPORT

The Supreme Court Refuses to Block Illinois ‘Assault Weapons’ Ban

On Thursday, the Supreme Court of the United States opted not to prevent a Democratic-supported ban on ‘assault weapons,’ allowing the restrictions to remain in effect, at least temporarily. On December 14, the Supreme Court rejected an urgent request for an injunction that sought to halt the Illinois ban on specific semiautomatic rifles and magazines, with none of the justices …READ THE FULL REPORT

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

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

Thank, Biden, the Magnificent for this!

(zerohedge)

BP Halts All Tanker Sailings Through Red Sea; UK Navy Receives Report Of Possible Explosion Near Yemen

MONDAY, DEC 18, 2023 – 07:40 AM

The number of major shipping firms halting all commercial sailings through the highly trafficked Red Sea strait has increased to five from four in response to missile and drone attacks by Yemen’s Iran-backed Houthis. 

Bloomberg reports that energy giant BP Plc is the latest shipper to pause all tanker sailings through the strategic Bab al-Mandab strait due to Houthi militants. 

“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” BP said in a statement.

Besides BP, Maersk, Hapag-Lloyd, CMA CGM, and Mediterranean Shipping Company have all paused commercial vessel operations through the Red Sea that connects to Egypt’s Suez Canal. 

Spillover risks of the Israel-Hamas war are quickly building, as the Red Sea is responsible for 40% of the world’s international trade. 

Over the weekend, US Central Command wrote in a post on X that the Burke-class guided-missile destroyer USS Carney shot down 14 Houthi drones in the Red Sea. 

On Monday morning, the UK Navy said it received a report of a possible explosion on the water about 30 miles south of Port Mokha, Yemen. 

The chaos has caused some shippers to divert vessels around the Cape of Good Hope to avoid the conflict area. 

The acceleration of de-globalization is leading to a surge of uncertainty along major global maritime routes. 

END

what took them so long?

‘Operation Prosperity Guardian’ – Pentagon To Launch Expansive Naval Coalition To Defend Red Sea Passage

MONDAY, DEC 18, 2023 – 11:50 AM

Update(1150ET): A US-led naval coalition is finally coming together to protect international shipping transit in the Red Sea and vital Bab al-Mandab Strait, per a breaking development from Politico’s chief Pentagon correspondent: “The Pentagon is expected to announce tomorrow the formation of Operation Prosperity Guardian, a new task force to protect shipping from Houthi attacks in the Bab Al-Mandeb Strait and Red Sea, per DOD official,” writes Lara Seligman on X.

“The operation will be within the framework of the existing Combined Maritime Force 153, a partnership of 39 nations focused on counter piracy and counter terrorism in the Red Sea.”

Days ago it was reported that the Pentagon was looking to cobble together the ‘broadest possible’ coalition task force, amid what’s now become daily Iran-backed Houthi attacks on commercial vessels. The Houthis have also launched rockets and drones into southern Israel at various times, triggering US warship intercepts. 

Just hours ago, we reminded readers of Zoltan Poszar’s prediction of central-bank-analogized ‘military protection’ and said it’s soon to become a reality… and just like that, it has:

Protection is a conceptual counterpart to par. When you decide to take money out of a sight deposit, you expect the same amount back that you put in (par).

When you sail foreign cargo from port A to port B, you expect to unload the same amount of cargo that you onloaded.

Banks can deliver par on deposits most of the time. When not, central banks step in to help.

Commodity traders can deliver foreign cargo from port A to port B most of the time, but when not, the state intervenes again: not the monetary arm, but the military arm of the state.

What central banks are to the protection of par promises, the military branch is to the protection of shipments: foreign cargo needs to sail on sea routes and through choke points like the Strait of Hormuz, and “par” in this context means being able to sail from here to there freely, safely, and without undue delays…

It has also emerged that Australia is expected to play a major role in Red Sea operations in the context of deepening ties with the US related to the AUKUS deal.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1736788417696932187&lang=en&maxWidth=560px&origin=https%3A%2F%2Fwww.zerohedge.com%2Fgeopolitical%2Fglobal-trade-risk-shippers-shun-red-sea-over-houthis-attacks&sessionId=95e385d410487b4f3feb0f019343c01e6497260a&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

Rabobank explains in the following…

Australia is reportedly in talks with the Pentagon over a US request to send an Australian warship to the Red Sea to assist in dealing with Iran-backed Houthi rebels, who have been disrupting commercial shipping in the region and launching missile and drone strikes against US targets and their allies. This request comes just days after Congress passed laws enabling the sale of Virginia class submarines to Australia under the terms of the AUKUS pact.

The agreement marks just the second time that the United States has shared nuclear secrets with another country (on purpose, at least), so it appears that there is an element of “I scratch your back, you scratch mine” going on here. This is not without its complications, as many members of Australia’s political establishment (particularly within the ruling Labor Party) still cling to dreams of ‘strategic autonomy’ of the kind that doesn’t even work for Europe.

Their fear is that AUKUS, and an Australian warship shooting down drones in the Red Sea, further locks Australia in as an organ of US foreign policy, which it probably does. But really, this is par for the course and probably just the modern incarnation of Australia’s long-running policy of having ‘great and powerful friends’. Quite aside from the diplomatic horse-trading that accompanies it, disruption of shipping in the Red Sea is a big problem, and Europe has the most to lose. 150 years of supply chain improvement risks being unwound as major shipping companies redirect vessels around the Cape of Good Hope to avoid traversing the region to pass through the Suez Canal into the Mediterranean.

END

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

ARGENTINA

END

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

EURO VS USA DOLLAR:  1.0915 UP  0.0026

USA/ YEN 142.78 UP 0.715  NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//

GBP/USA 1.2665 UP .0000

USA/CAN DOLLAR:  1.3368 DOWN .0001 (CDN DOLLAR  UP 1 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 11.75 PTS OR   0.40%

 Hang Seng CLOSED DOWN  211.57 PTS OR 0.64%

AUSTRALIA CLOSED DOWN 0.316%  // EUROPEAN BOURSE:  ALL MOSTLY RED EXCEPT LONDON

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL RED EXCEPT LONDON

2/ CHINESE BOURSES / :Hang SENG DOWN 211.57 PTS OR 0.64%  

/SHANGHAI CLOSED DOWN 11.74 PTS OR 0.40%

AUSTRALIA BOURSE CLOSED DOWN 0.16%

(Nikkei (Japan) CLOSED  DOWN 211.59  PTS OR 0.64%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2023.25

silver:$23.92

USA dollar index early MONDAY  morning: 102,13  DOWN 5 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY  MORNING NUMBERS ENDS

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And now your closing MONDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 2.811%  DOWN 5  in basis point(s) yield

JAPANESE BOND YIELD: +0.670% DOWN 0 AND  4//100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.053 DOWN 4  in basis points yield

ITALIAN 10 YR BOND YIELD 3.773 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.076  DOWN 5  BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR  MONDAY  

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

Euro/USA 1.0918 UP  0.0029 or 29  basis points

USA/Japan: 143.05 UP 0.988 OR YEN DOWN 99 basis points/

Great Britain/USA 1.2645  DOWN .0021  OR 21  BASIS POINTS //

Canadian dollar DOWN .0034 OR 34 BASIS pts  to 1.3403

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY: closed    ON SHORE  CLOSED    (UP) …7.1340

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.1348)

TURKISH LIRA:  29.05 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.670…VERY DANGEROUS

Your closing 10 yr US bond yield UP 3 in basis points from THURSDAY at  3.955% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

 USA 30 yr bond yield  4.058 UP 3  in basis points   ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.457 UP 4  BASIS PTS.

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

London: CLOSED UP 38.12  POINTS or 0.50%

German Dax :  CLOSED DOWN 100.89 PTS OR 0.60%

Paris CAC CLOSED DOWN 28.05 PTS OR 0.37%

Spain IBEX DOWN 40.70  PTS OR 0.40%

Italian MIB: CLOSED DOWN 132.87 PTS OR 0.44%

WTI Oil price  73.18   12: EST

Brent Oil:  78.66 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  90.06;   ROUBLE UP 0 AND  22//100      

GERMAN 10 YR BOND YIELD; +2.0768 DOWN 5  BASIS PTS

UK 10 YR YIELD: 3.736 DOWN 5  BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0917  UP   0.0027   OR 27 BASIS POINTS

British Pound: 1.2645 DOWN .0021   or 21 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.737% DOWN 7 BASIS PTS//

JAPAN 10 YR YIELD: 0.665%

USA dollar vs Japanese Yen: 142.93 UP 0.857 //YEN DOWN 86  BASIS PTS//

USA dollar vs Canadian dollar: 1.3393 UP 0.0028 CDN dollar DOWN 28   basis pts)

West Texas intermediate oil: 72.68

Brent OIL:  78.05

USA 10 yr bond yield UP 2  BASIS pts to 3.946%  

USA 30 yr bond yield UP 3  BASIS PTS to 4.058%

USA 2 YR BOND: UP 1 PTS AT  4.457 %

USA dollar index: 102.19 UP 1  BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 29.06 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  90.06 UP 0  AND  22/100 roubles

GOLD  2026.20 3:30 PM

SILVER: 23,79  3:30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 0.79 % PTS OR 0.00%

NASDAQ UP 106,36 PTS OR 0.64%

VOLATILITY INDEX: 12.48 UP ,20 PTS 1.63)%

GLD: $187,85 UP 0.85 OR 0.45%

SLV/ $21.80 DOWN .03 OR 0.14%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM:

Goolsbee Grounds Bond-Bulls But Bitcoin, Black Gold, And Big-Tech Bounce

MONDAY, DEC 18, 2023 – 04:00 PM

Having had the weekend to soak up the good-cop (Powell), bad-cop (Williams et al.) routine of last week, futures pushed higher overnight extending the exuberance and giving the benefit of the doubt during this quiet (post-OpEx) week to Powell (don’t fight him, remember). Rate-cut expectations have (hawkishly) pulled back from Wednesday’s euphoria but not enough to change the “the peak is in” narrative…

Source: Bloomberg

Chicago Fed’s Goolsbee was wheeled out again to uncomfortably walk back the market’s enthusiasm… without admitting that was what he was doing.

“It’s not what you say or what the (Fed) Chair says, it’s what do they hear and what do they want to hear?” Goolsbee said in an interview with CNBC, in reference to the response of financial markets to Powell’s comments last week:

“I was confused by what the market was imputing…

…I was surprised that the market reacted” that way…

…the markets are a little bit ahead… they jumped to the end part, which is ‘We’re going to normalize quickly’, and I don’t see that.“

He also seemed to confirm what Fed’s Williams said, that they did not discuss future rate-cuts at the meeting.

“We don’t debate specific policies speculatively about the future”

Late in the day SF Fed’s Daly was less dovish too, suggesting that “rate-cuts could be needed in 2024.” Not exactly a “we’re gonna cut 6 times no matter what” that the market ‘heard’.

That spooked the bond market, with yields rising…

Source: Bloomberg

…but still well below pre-Powell levels. Yields were up around 3-5bps today (long-end lagging)…

Source: Bloomberg

No major macro to speak of today (weak NYFRB Services and rebound in NAHB sentiment), but global financial conditions continue to loosen dramatically…

Source: Goldman Sachs

And those ‘easy’ financial conditions helped (long duration) tech stocks shrug off higher rates and lead the Nasdaq and S&P to gains on the day as Small Caps lagged. The Dow ended unch…

Growth stocks are recovering their post-Fed relative underperformance to Value…

Source: Bloomberg

“Most Shorted” stocks opened down, tried the ubiquitous squeeze higher, failed and ended lower…

Source: Bloomberg

But MAG7 stocks rallied strongly for the 4th day in the last 5 to a new high…

Source: Bloomberg

AAPL did not participate in the MAG7 melt-up after China iPhone bans and US iWatch bans… ‘Cook’ed?

VIX was marginally higher on the day (still with a 12 handle) but VVIX is flashing an amber warning signal that some are getting anxious about a mini-Minsky…

Source: Bloomberg

But hey, why worry – look what Santa’s got in store…

Source: Bloomberg

The dollar was broadly speaking flat against its fiat peers today

Source: Bloomberg

Bitcoin ended marginally lower after roundtripping the ubiquitous Asian-selling-programs, finding support at the pre-Fed lows…

Source: Bloomberg

Gold managed small gains today after Friday’s tumble…

Source: Bloomberg

Oil prices surged intraday amid more headlines of attacks, and re-routings of tankers in the MidEast with WTI psuhing up near $75 before fading back…

WTI once again found support at around the $70 level (having traded roughly between $70 and $90 for the last 18 months), and is pushing up against the 21-day moving-average

Source: Bloomberg

…and with positioning so short, there could be more room to run…

Finally, it’s deja vu all over again…

Source: Bloomberg

So what happens next? Premature ease-ification could be a problem for you Mr.Powell (or the next Fed Chair).

END

AFTERNOON TRADING//

TUCKER CARLSON

II USA DATA

Retail sales rebound in good start for U.S. holiday shopping season

Dec. 14, 2023 at 8:34 a.m. ET

MarketWatch

Strong retail sales in November contradict other reports showing a slowing economy

The numbers: Sales at U.S. retailers rose a solid 0.3% in November in a good start to the holiday shopping season, suggesting the economy might not be cooling off all that much.

Economists polled by The Wall Street Journal had forecast a 0.1% decline in sales. Sales had fallen in October for the first time in seven months.

Economists had a predicted a so-so holiday shopping season, but the November report appears to show that retail sales are track to post an above-average performance.

Retail sales represent about one-third of all consumer spending and usually offer clues on the strength of the economy.

Key details: Sales surged at Internet retailers such as Amazon AMZN, -0.54% as well as stores that sell books, music and other hobby items.

Americans also spent more on clothes, furniture, health- care items and new cars and trucks.

Sales at bars and restaurants were also strong, climbing 1.6% in November.

People go out to eat more when they feel good about their own finances and the broader economy. Restaurant sales are up a sharp 11% in the past year, more than triple the rate of inflation.

Receipts at gasoline stations fell sharply again to hold down the headline number on retail sales. But it’s good news for consumers when they have to spend less on fuel because of cheaper oil prices.

Sales also fell at department stores and home centers such as Home Depot HD, 1.98%.

Retail sales climbed 0.6% when car dealers and gas stations were set aside, giving a better understanding of consumer demand.

Big picture: Consumers can spend enough money to keep the economy growing because of the strongest jobs market in decades.

The unemployment rate sits near a low not seen in more than a half-century. Most people who want a job can find one. And wages are rising faster than inflation again.

Yet high interest rates and still-elevated inflation are costly for consumers, which has taken a toll on the economy. The U.S. is expected to post slower growth in the fourth quarter and the first half of next year.

Looking ahead: “The big jump in retail sales shows that the death of the consumer — as well as the economy — has been greatly exaggerated and the much-hyped recession of 2023 isn’t going to materialize,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

III  USA ECONOMIC COMMENTARIES

This is to be expected!

(zerohedge)

A Shocking 40% Of Student Loan Borrowers Missed First Payment After Pandemic-Era Freeze Expired

MONDAY, DEC 18, 2023 – 12:50 PM

In October, the number of Americans delinquent on subprime auto loans hit the highest rate on record, amid a rise in Google searches for “give car back” – while the number of people who are upside-down on auto loans is at the highest level since April 2020.

Now, according to data released Friday by the Biden administration, 40% of student loan borrowers skipped their payment in October, the first since the pandemic-era freeze on student debt expired.

Around 8.8 million out of 22 million borrowers who missed the October payment had failed to make their payment by mid-November, a sharp contrast to the October 2019 pre-pandemic period, when 26% of borrowers (still high!) missed their payments, Politico reports.

“While most borrowers have already made their first payment, others will need more time,” said James Kvaal, the undersecretary of education, said in a blog post which accompanied Friday’s data. “Some are confused or overwhelmed about their options. We want to make sure borrowers know that our top priority is to support student loan borrowers as they return to repayment.”

The Education Department emphasized on Friday that a majority of borrowers successfully paid their first monthly payment. About 60 percent of borrowers — some 13.2 million people — who owed a payment in October made the payment by the middle of last month, said the department.

The new data shows, for the first time, that millions of borrowers are availing themselves of the flexibility that the Biden administration has offered borrowers, which officials have dubbed the “on-ramp” to repayment.

These “on-ramp” include a suspension of reporting delinquencies to credit bureaus through the end of September next year and postponing aggressive debt collection methods like wage garnishment. However, these forbearance policies imply that most borrowers won’t face the consequences of delinquency until the end of 2024, with defaults not occurring until fall 2025 at the earliest.

The figures also don’t include borrowers who didn’t owe a payment in October because they’re still students, or because they’re in a grace period, or had another type of deferment or forbearance agreement.

Roughly 45 million Americans owe some $1.6 trillion in total.

END

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and  PERVASIVE ANTISEMITISM

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

Trump Attorneys Ask Fulton County Judge To Dismiss Indictment

MONDAY, DEC 18, 2023 – 01:45 PM

Authored by Jack Phillips via The Epoch Times,

Former President Trump’s Georgia attorneys submitted a court filing on Dec. 18 arguing that the former president’s comments were political speech protected under the Constitution’s First Amendment in the aftermath of the 2020 election.

“Every single alleged overt act listed and count charged against President Trump seeks to criminalize content-based, core political speech and expressive conduct,” President Trump’s team wrote.

The former president and more than a dozen other people were indicted in Fulton County, Georgia, by District Attorney Fani Willis, who accused them of conspiring to overturn the election in the state.

Several defendants in the case have pleaded guilty in exchange for more lenient punishment, although President Trump and the remaining defendants have pleaded not guilty.

On Dec. 18, the former president’s lawyers said that even if the facts that the prosecutors have alleged are true, a judge should dismiss the indictment as a violation of his core First Amendment rights.

“This Court should hold that the First Amendment’s guarantee of freedom of speech, when applied to the core political speech and expressive conduct alleged in the indictment against a President of the United States, demands a pretrial remedy and that remedy is dismissal of the indictment,” the lawyers said.

But Ms. Willis’ case “does not merely criminalize conduct with an incidental impact on protected speech,” they said. “Instead, it directly targets core protected political speech and activity. For this reason, it is categorically invalid under the First Amendment.”

Ms. Willis has said she is seeking an August trial date for President Trump and the remaining co-defendants, a time frame that would put the current front-runner for the Republican presidential nomination in court defending himself in the months, weeks, and even days leading up to the November general election.

Trump lawyer Steve Sadow has said that if the former president is the nominee, this would be “the most effective election interference in the history of the United States.”

Ms. Willis’s team has also said they want to have a single trial for the rest of the defendants. Fulton County Superior Court Judge Scott McAfee, who is presiding over the case, has expressed skepticism about the idea of trying too many people at once.

He said earlier this month that even 12 people at once could be a stretch.

Prosecutors and defense attorneys have been exchanging evidence. Pretrial motions for most of the defendants are due early next month.

In an interview with The Associated Press, Ms. Willis said she believes more of the co-defendants will take plea deals, although she did not elaborate.

Attorney Sidney Powell, Trump attorney Jenna Ellis, attorney Kenneth Chesebro, and bail bondsman Scott Hall have taken plea deals in exchange for guilty pleas.

Last week, Ms. Powell issued a 13-word apology, which was part of the plea agreement. “I apologize for my actions in connection with the events in Coffee County,” she wrote.

Fulton County District Attorney Fani Willis speaks during a news conference at the Fulton County Government Center in Atlanta, Ga. on August 14, 2023. (Joe Raedle/Getty Images)

The case is one of four criminal prosecutions brought against President Trump this year, and it has significant overlap with the indictment brought in Washington by Mr. Smith.

Ms. Willis would not say whether her office had been in contact with Mr. Smith, but she seemed to indicate that she had no reason to seek help from him.

“A woman in Georgia is able to get evidence, look at the evidence, and make charging decisions, and we can actually do it all here in the state of Georgia,” said Ms. Willis, a Democrat up for reelection next year.

Trial During Campaign?

During a hearing earlier this month, Mr. Sadow questioned holding a Fulton County trial during the middle of the 2024 campaign.

“Can you imagine the notion of the Republican nominee for president not being able to campaign for the presidency because he is, in some form or fashion, in a courtroom defending himself?” Mr. Sadow said at the hearing.

He later added, “That would be the most effective election interference in the history of the United States.”

Prosecutor Nathan Wade rejected his arguments during the hearing. “This trial does not constitute election interference,” he said, later adding, “This is moving forward with the business of Fulton County.

“I don’t think that it in any way impedes defendant Trump’s ability to campaign or whatever he needs to do in order to seek office.”

Asked by the judge whether President Trump could be tried in 2025 if he were to be elected president next November, Mr. Sadow said he believes that the U.S. Constitution’s supremacy clause and presidential duties would mean that he could not be tried until he was out of office.

END

THE KING REPORT

The King Report December 18, 2023 Issue 7141

Independent View of the News

Fed’s John Williams says the central bank isn’t ‘really talking about rate cuts right now’ “We aren’t really talking about rate cuts right now,” he said on CNBC’s “Squawk Box.” “We’re very focused on the question in front of us, which as chair Powell said… is, have we gotten monetary policy to sufficiently restrictive stance in order to ensure the inflation comes back down to 2%? That’s the question in front of us.”… “I just think it’s just premature to be even thinking about that,” Williams said, when asked about futures pricing for a rate cut in March… (Williams starkly contradicted Powell.)     “One thing we’ve learned even over the past year is that the data can move and in surprising ways, we need to be ready to move to tighten the policy further, if the progress of inflation were to stall or reverse.” https://www.cnbc.com/2023/12/15/feds-john-williams-says-the-central-bank-isnt-really-talking-about-rate-cuts-right-now.html   The FT: The timing of any coming rate cuts “is clearly a topic of discussion in the world and a topic of discussion for us at our meeting today,” he (Powell) added… https://www.ft.com/content/8df9cb6e-c727-4a8c-bdbc-4e83a0785ef3   @business: China’s central bank injects a net $112 billion into the financial system, the most on record, with one-year policy loans https://finance.yahoo.com/news/pboc-offers-record-112-billion-015631293.html   ESHs traded moderately lower when the Nikkei opened but steady rallied until they hit a daily high of 4789.00 5:15 ET.  They retreated to 4779.50 at 8:21 ET.  After a burst to 4784.75 at 8:28 ET, ESHs tumbled to 4765.25 at 8:42 ET on Williams’ contradiction of Powell.   However, it was December expiration and a Friday; so, the usual suspects eagerly bought the dip.  Some got long for the ingrained NYSE opening Pump & Dump.  ESHs soared to 4779.75 at 9:20 ET.  But the dump commenced early; ESHs sank to a daily low of 4761.50 at 9:34 ET.   Most traders and investors don’t believe Williams; they still see a Fed Pivot in March.  Numerous people realize that Team Obama-Biden will do what is necessary to get The Big Guy elected.  So, ESHs rallied to 4777.75 at 12:26 ET.  After an 11-handles drop by 13:15 ET, ESHs rallied when Obama crony, Chicago Fed President Goolsbee, said the Fed might need to shift its focus from inflation and to jobs (AKA stimulate to get Biden re-elected) and cut rates in March.  WSJ: “Goolsbee did not rule out the possibility of the Fed cutting interest rates at its meeting in March.”  13:38 ET   ESHs then sank to 4657.25 at 13:53 ET because Atlanta Fed President (usual an uber dove) Bostic asserted that he sees two 25bp rate cuts in 2024 that would likely start in Q3.    @FerroTV: Powell Dec 1: it’s premature to talk about easing Powell Dec 13: we’re talking about the timing of easing Williams Dec 15: we aren’t really talking about it   @KobeissiLetter: Fed member Bostic sees only 2 rate CUTS in 2024 and expects cuts to begin in the third quarter. This comes just hours after NY Fed President Williams said the Fed “isn’t really discussing rate cuts.” Meanwhile, Fed Chair Powell just said the Fed sees 3 rate cuts in 2024.     All as markets are pricing-in anywhere from 6 to 8 rate cuts in 2024. What a mess!   ESHs hit a new daily low of 4757.25 at 13:53 ET.  ESHs then plodded higher because: 1) It was Friday afternoon; it was Dec expiration; and 3) Most of the known universe is unremitted euphoric for equities.   ESHs plodded higher until someone manipulated them1 15 handles higher from 15:45 ET to 15:52 ET.  ESHs tumbled 13 handles during the final 4 minutes of trading because most traders were too long.   USHs and gold traded similarly to ESHs on Friday.   Biden’s approval rating falls to just 33%: (Pew) poll (Yellen, get to work!) https://trib.al/u1va9es   ‘Good one, Donald’: Biden flaunts stock market record highs, mocks Trump for predicting ‘collapse’ https://t.co/aJZCPP4ohE   @WallStreetSilv: The Fed and other central banks have created so many trillions of $$$ and manipulated so many markets, it is breaking price signals in the markets. Our most likely path is a repeat of the 1970s with inflation and recession at the same. The Fed has to pick one or the other.    Are they going to lower rates to juice the economy while ignoring inflation or are they going to increase rates to fight inflation and sacrifice the economy and Joe Biden?   Rate Cuts Are Coming – And So Is the Money Printer Powell & Co. are going to juice the economy in the middle of a hotly contested election and the fallout will only come in the middle of 2025, long after the ballots are cast.  From St. Jerome’s perspective, this is the right approach. Trump is leading in the polls and has already promised to replace Powell, calling him “the worst pick ever.”  So, St. Jerome’s chairmanship is dependent on Biden winning next year, an unlikely outcome if the economy is in a tailspin and homes remain unaffordable to all but the top 10% of income earners. Much more palpable will be freshly printed money… https://www.fxhedgers.com/p/rate-cuts-are-coming-and-so-is-the?s=02   BBG’s @stevehouf: 3% inflation is a small price to pay if we can avoid Trump 2.0. Very small. (Most everyone knows, presumes, or guesses that the Fed’s rate cut mantra is to aid The Big Guy.)   LBJ announced on March 31, 1968 that he would NOT seek re-election.  Do Biden’s handlers and Goolsbee see the same deadline for The Big Guy?   @charliebilello on Thursday night: The S&P 500 is now 8% higher than where it was when the Fed started hiking rates in March 2022. https://t.co/bKICSqM5T3   @StealthQE4: So basically the Fed rate hikes did nothing to slow the economy, increased our federal deficit, and did nothing for price stability.  The fact that the market is higher at the peak of rate hikes versus before they started basically means it did nothing… (Cuz the Fed didn’t reduce reserve growth!)   Jordan subpoenas major investment firms for evidence on ESG collusion House Judiciary Committee says it believes BlackRock used its position in the market to force other companies to adopt ESG goals.  (State Street Global Advisers also subpoenaed) https://justthenews.com/politics-policy/energy/jordan-subpoenas-major-investment-firms-evidence-esg-collusion   Positive aspects of previous session Stocks and bonds rallied the DJTA was very strong all day The Nasdaq 100 closed at all-time high An increasingly number of pundits and analysts now realize the Fed is egregiously political   Negative aspects of previous session Gasoline rallied as much as 1.788% There is conflict within the Fed over monetary policy, and perhaps concerns about the overt politics   Ambiguous aspects of previous session Elements within the Fed are pushing back against multiple rate cuts in 2024.   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 4716.52 Previous session S&P 500 Index High/Low: 4725.53; 4704.69   @uTobian: “The US makes up 5% of the world’s population, yet we consume 55% of the prescription medications.” — Dr. Paul Marik (Does Big Pharma and Corrupt Congress a role have in this?)   Iranian Hackers Attack US Water System Iran-linked hackers have exploited Israeli-made programmable logic controllers (PLCs) used in multiple water systems and other operational technology facilities across the US, according to US cyber security agencies… https://www.cybersecurityintelligence.com/blog/iranian-hackers-attack-us-water-system-7353.html   @Jerusalem_Post: About 67% of young Americans between the ages of 18-24 believe that Jews as a class are oppressors and should be treated as oppressors and 53% believe calls for the genocide of Jews should be allowed, according to a new Harris/Harvard poll.   https://t.co/2jwIndnXZQ   The BLS: When did the Wholesale Price Index become the Producer Price Index? The Wholesale Price Index (WPI) was the name of the program from its inception in 1902 until 1978, when it was renamed the Producer Price Index…      The change in name from Wholesale Price Index to Producer Price Index did not include a change in index methodology, and the continuity of the price index data was unaffected. The name change reflects the theoretical model of the output price index that underlies the PPI. (See BLS Working Paper 44, “On the Theory of Industrial Price Measurement: Output Price Indexes.”) In addition, the term Wholesale Price Index was misleading in that the index never measured price change in the wholesale market. No indexes were discontinued as a result of the changes in terminology or analytical emphasis…     4.  How does the Producer Price Index differ from the Consumer Price Index? In contrast to the CPI, PPI currently does not have complete coverage of services. PPI began expanding coverage beyond mining, manufacturing, agriculture, and utilities in the mid 1980s, introducing its first services price index in 1985, and PPI’s effort to expand coverage into the services sector of the economy is ongoing. PPI currently covers approximately 72 percent of services as measured by 2007 Census revenue… https://www.bls.gov/ppi/faqs/questions-and-answers.htm   Where is inflation the greatest in the USA?  Services!   @TrendSpider: Perfect timing for a pullback? January (40%) and February (50%) have been the second and third least winning months for the S&P over the last decade. https://t.co/J3HvTAPIYg   Goolsbee (Sunday on CBS): Expect ‘Very Substantial’ Inflation Reduction in 2023 – BBG Goolsbee: Rate decisions depend on data, meeting by meeting (and Biden polling?) – BBG Goolsbee: Too Early to Declare Victory of Inflation – BBG   Barack Obama ‘thinks Joe Biden could LOSE the White House next year’, with president’s polls continuing to tank as worries over his age and cost of living crisis persist https://t.co/PbJwRvBARQ   @ElectionWiz: Trump takes historic lead over Biden in RCP Poll Average (+3.1%) – On this day in 2015, Clinton led Trump by 5.8 points. On this day in 2019, Biden held a 5.2 point advantage over Trump. (Must cut rates and restart QE ASAP!)  https://twitter.com/ElectionWiz/status/1736111457983430785   Bloomberg on Sunday: Fed Pivot Is Welcome News for Biden, Carries Pitfalls for Powell Falling rates could bolster president’s case on the economy Election-year rate cuts will open Powell Fed to political heat   Today – Traders will play for the usual Monday Rally.  But stocks are historically overbought on short and intermediate-term horizons.  So, a spirited retreat could appear at any time.   But, don’t forget: US stocks are in a bubble of undeterminable magnitude and length – and Team Obama-Biden desperately need Biden to be re-elected.   Expected economic data: Dec NAHB Housing Market Index 38   ESHs are +8.50 (Usual Sunday night buying); USHs are -5/32; and Feb AU is +1.00 at 20:15 ET.   S&P 500 Index 50-day MA: 4429; 100-day MA: 4429; 150-day MA: 4404; 200-day MA: 4317 DJIA 50-day MA: 34,615; 100-day MA: 34,584; 150-day MA: 34,382; 200-day MA: 34,075 (Green is positive slope; Red is negative slope)   S&P 500 Index – Trender trading model and MACD for key time frames Monthly: Trender and MACD are positive – a close below 3919.56 triggers a sell signal Weekly: Trender and MACD are positive – a close below 4368.39 triggers a sell signal Daily: Trender and MACD are positive – a close below 4630.58 triggers a sell signal Hourly: Trender and MACD are positive – a close below 4688.00 triggers a sell signal   Senate staffer who allegedly filmed public sex in Congress ousted from Ben Cardin’s office Maese-Czeropski, a 24-year-old legislative aide, was accused of posting a video of himself in flagrante delicto with another man on a public X account…  took place in the same room where nominees to the Supreme Court are grilled by senators and where former FBI boss James Comey once testified about alleged Russian interference in the 2016 presidential election. Graphic video of the moment was published by The Daily Caller Friday… (Senate hearing room!? Biden said he would restore decency.) https://nypost.com/2023/12/16/news/senate-staffer-who-filmed-public-sex-in-congress-leaves-ben-cardin-office/   @JonathanTurley: Obviously, the videotape will result in the termination of any staffers involved…     The shooting of the porn video could lead to charges ranging from trespass to misuse of government property. While this was not a public hearing, it makes the Democratic objections on the House side to showing Hunter in a bathing suit as “pornographic” seem almost puritanical.   @CollinRugg: Democrat Senator Ben Cardin (Maryland) previously ranted about how the US Capitol was a “sacred space” and is “so much more” than a building while comparing J6 to 9/11. Yesterday, video was released of his staffer having gay s*x in this “sacred space”… what did Cardin have to say? Besides announcing the staffer was fired, Cardin simply said: “We will have no further comment on this personal matter.”  So much for this “sacred space”!   Former congressman Madison Cawthorn (R-NC) publicly alleged that some in Congress and their staffs engaged in beaucoup orgies around DC.  The GOPe primaried and removed him in 2022.   FBI secretly taped James Biden in bribery probe concerning his DC consulting firm: report President Biden’s brother James was secretly recorded by the FBI during a bribery investigation into a Mississippi trial attorney who shelled out $100,000 to his consulting firm in the late 1990s, a report said on Sunday… While seeking support from the then-Delaware senator, Scruggs made multiple $10,000 payments to Lion Hall, James and Sara Biden’s consulting firm, over roughly a year, according to the Washington Post…. https://trib.al/dNIAmt6   @paulsperry_: The $1 mil Hunter Biden’s Chinese partner Patrick Ho wired him in ’17 has been the subject of a separate bribery investigation, federal law enforcement sources say. Investigators determined the payment was not for legal fees as claimed. Hunter was not even licensed in NY   Who Is Sara Biden? Joe’s In-Law Emerges as Central Figure in Foreign Cash Deals They are especially interested in subpoenaed bank records that include almost a quarter million dollars in checks Sara Biden wrote to her brother-in-law Joe, conspicuously marking them as “loan repayment.”… Court records and other documents show she has been a central player in the Biden family business for decades. They show how her and her husband’s desire for a lifestyle they could not quite afford has repeatedly led them to form relationships with shady figures and enterprises that often ended in lawsuits and even criminal investigations…     Documents recently obtained by government watchdog America First Legal, under a Freedom of Information Act request, reveal that Sara and Jim’s main business, the Lion Hall Group, shows up in more than 3,735 emails generated by the former Vice President Biden’s office…      When her bank asked Sara Biden about the large transfers, she claimed the payments were for international consulting work (neither she nor her husband is registered with the Justice Department as foreign agents). However, she refused to provide any supporting documentation. The bank, in turn, closed the Lion Hall account, according to a 2020 Senate report…      Congressional investigators suspect that Lion Hall, which was incorporated by Joe Biden’s old law partner, was set up to act as a pass-through vehicle to launder possible bribes to Joe Biden… https://www.realclearinvestigations.com/articles/2023/12/11/who_is_sara_biden_joes_in-law_emerges_as_central_figure_in_foreign_cash_deals_996942.html   @simonateba: Republican Senator Lindsey Graham (@LindseyGrahamSC) claims he has not seen any evidence that President Biden is corrupt and should be impeached. No smoking gun, he said. WATCH https://t.co/3PyyqPNn28   @Rothbard1776: That’s because Lindsey Graham is up to his eyeballs in Ukraine corruption. If you start digging into Biden, you’ll find the fingerprints of Graham and others.   Tech pioneer Marc Andreessen (@pmarca): The key to any sustained centralized authority is zero accountability for failure.   The mystery of the missing binder: How a collection of raw Russian intelligence disappeared under Trump – Its disappearance, which has not been previously reported, was so concerning that intelligence officials briefed Senate Intelligence Committee leaders last year about the missing materials and the government’s efforts to retrieve them, the sources said… (The reason for the raid on DJT’s Mar-a-Lago?)     In the years since Trump left office, his allies have pursued the redacted binder so they can release it publicly, suing the Justice Department and the National Archives earlier this year…     Despite fierce opposition from his own national security officials, Trump spent years trying to declassify material that he said would prove his claims the FBI’s Russia probe into his campaign was a hoax…  https://www.cnn.com/interactive/2023/12/politics/missing-russia-intelligence-trump-dg/   Ex-Hollywood Attorney @DC_Draino: Trump probably has the declassified Crossfire Hurricane documents or knows where they are. What if, and stay with me here, what if he plans to use them once he retakes the White House to criminally investigate and prosecute Obama, Biden, Hillary, Comey, Eric Holder, James Brennan and others who were involved in the illegal spying of a sitting US President?    Also, what if those documents prove these traitors coordinated with foreign adversaries? Wouldn’t that qualify as treason? This is why the Biden regime indicted Trump 4 times. They know what’s coming and are doing everything to stop it.  Bu… they’ve only laid out the framework and justification for prosecuting former Presidents and administration officials.  This could get really interesting   @paulsperry_: RealClearInvestigations has learned that one of the CIA operatives who helped Brennan draft the ICA, Andrea Kendall-Taylor, financially supported Hillary Clinton during the campaign & is a close colleague of Eric Ciaramella, the impeachment whistleblower.   Hunter Biden’s Contempt of Congress Has Wider Consequences – Turley Hunter can now be held in contempt of Congress. That will force the hand of Attorney General Merrick Garland, who aggressively pursued Trump figures for contempt, including former Trump adviser Steve Bannon… He was swiftly charged and convicted by Garland’s prosecutors…     Fox News quoted White House press secretary Karine Jean-Pierre saying that President Biden “was certainly familiar with what his son was going to say,” which suggests that the president spoke with his son before his act of contempt and discussed his statement. If that is true, it was a breathtaking mistake. One of the four most obvious potential articles of impeachment that I laid out in my prior testimony was obstruction. There already are questions over special treatment potentially being given to Hunter in the form of alleged felonies being allowed to expire, warnings about planned federal raids, and sweetheart deals… The House can pursue evidence on that conversation and how the president may have supported his son’s effort… https://themessenger.com/opinion/hunter-biden-contempt-of-congress-subpoena-white-house-impeachment-prosecution   Heavily redacted records show FBI’s targeting of Catholics went beyond what it claimed: watchdog The FBI has insisted the controversial memo was the work of a single field office     “FBI Director Christopher Wray had told congressmen that the memo was ‘a single product by a single field office,’ but the records uncovered by Judicial Watch show that it was “Reviewed by: OGC/CDC [Office of General Counsel/Chief Deputy Counsel],'” Judicial Watch posted in a press release Friday…      “These documents disprove the FBI’s narrative that the spy operation against Catholics and churches was limited to one field office. In fact, the operation seems to have been approved by top lawyers in the FBI,” Judicial Watch President Tom Fitton wrote… https://www.foxnews.com/politics/heavily-redacted-records-show-fbis-targeting-catholics-went-beyond-theyve-claimed-watchdog   The U.S. military is at its lowest number of members in 80 YEARS – prior to World War II… According to Pentagon officials, the number of active duty troops sunk to 1.3 million, which although may seem like a lot, the figure is actually the lowest since prior to World War II in 1941… one of the main reasons Gen Z is opting out is because they have a ‘low trust in institutions,’ and have ‘decreasingly followed traditional life and career paths.’ They’ve essentially been taught that rules and law and order don’t matter and that the underlining American structure is to blame for any and all wrongdoing…  https://t.co/7FWbv75u9I   @TheBabylonBee: Clarence the Angel Takes Gavin Newsom to Florida to Show Him What California Would Look Like if He’d Never Been Born https://t.co/8rZmdcYSLl   Chicago’s progressive Mayor Johnson announces plans to ax Windy City’s high-achieving selective-enrollment high schools to boost ‘equity’ despite promising not to during election campaign https://www.dailymail.co.uk/news/article-12864439/Chicago-Mayor-Brandon-Johnson-selective-enrollment-high-schools.html

GREG HUNTER INRWEVIEWING MARK CRISPIN MILLER

Rolling Thunder Global Propaganda – Mark Crispin Miller

Rolling Thunder Global Propaganda – Mark Crispin Miller

By Greg Hunter On December 16, 2023 In Political Analysis36 Comments

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

New York University (NYU) Professor Mark Crispin Miller (MCM) is an expert in propaganda. Dr. Miller says from infection to injection, Covid 19 was a global “propaganda masterpiece.” Propaganda on this level has never happened before in human history. Dr. Miller explains, “The media has been crucial to this entire operation, and I would take that a little further. I would say since the beginning of 2020, we have been subjected to a ‘Rolling Thunder of Propaganda’ drives one after another. First, there was the (CV19) virus panic. Then, there was the George Floyd moment. Now, there is a new documentary that shows George Floyed was not actually murdered. . . . It’s called ‘The Fall of Minneapolis.’ . . . . There was the 2020 Election. There was the so-called ‘insurrection.’ That was a wave of crackpot hysteria . . . because it was not an insurrection . . . or coup attempt. Then, there was Ukraine, and the entire back story of Russia’s invasion was completely missing from all the coverage. . . . This is all the result of the media doing the opposite of what it is supposed to do. The ‘Framers’ (of the Constitution) realized the absolute necessity of having a free press. . . . This was before the corporate media cartels, which is what we have now. . . . The Framers knew . . . to offer a counterforce to federal power, we absolutely had to have a free press. . . . The reason why the press has First Amendment protections is it . . .tells truths the federal authorities does not want us to know. To say the press has failed abysmally is actually giving them too much credit. They have been instrumental throughout this nightmare, whose aim is radical depopulation and destruction of democracy. . . . if you just tell the other side of the story, you are public enemy #1.”

With more than 700 million mRNA CV19 bioweapon injections in the US alone and more than 13 billion CV19 injections globally, the implications of this depopulation agenda is the biggest story ever short of a global thermal nuclear exchange. This, too, was part of the “Rolling Thunder Global Propaganda” campaign. Dr. Miller has dedicated his Substack to reveal mounting and massive deaths and injuries one person at a time. Many doctors are revealing data and sources proving the CV19 vax did not help a single person. Dr. Miller calls the CV19 so-called vaccine “the perfect crime.” Dr. Miller explains, “It’s the perfect crime because there is a long delay between the pulling of the trigger and the collapse due to the bullet. You see what I mean? Sometimes it can take people two years to succumb to the consequences of taking the shot. It’s the perfect crime. I also liken it to the infamous mass murders of mid-century. . . . This had much more sophistication than those mass murders. It’s not just the bigger numbers, but they got people to take this willingly. Hitler, Stalin and Pol Pot were all coercive. . . . This is the first mass murder that is the result of getting people to clamor for it. The panic over the Corona virus was so successful that people were craving vaccination—craving it.”

The good news from Dr. Miller is that it appears people are waking up at a fast pace. He points to the low uptake of more CV19 boosters in a range of only 3%. Dr. Miller is dedicated to waking people up to the mass propaganda psyop that has led people in a disastrous direction. Dr. Miller says, “People can subscribe to my Substack, and you can do it for free. I am doing this for the public good. I am always grateful for paid subscribers because I am on disability now as a professor at NYU, but I am not doing it for that reason. I am doing it because something really, really evil is going on, and people have to snap out of it. People have to wake up. I do believe people can wake up, and there are indications that people are waking up.”

There is much more in the 59-minute interview.

Join Greg Hunter as he goes One-on-One with NYU Media Studies Professor and propaganda expert Dr. Mark Crispin Miller for 12.16.23.

(https://usawatchdog.com/rolling-thunder-global-propaganda-mark-crispin-miller/)

(Tech Note: If you do not see the video, know it is there. Unplug your modem and plug it back in after 30 sec.  This will clear codes that may be blocking you from seeing it.  In addition, try different browsers.  Also, turn off all ad blockers if you have them.  Finally, clear your Cashe and that might help too.  https://its.uiowa.edu/support/article/719    All the above is a way Big Tech tries to censor people like USAWatchdog.com.)

After the Interview:

There is lots of free information on Dr. Miller’s Substack, including his popular “Died Suddenly” reports. The data is collected every week from the U.S. and more than two dozen countries around the world.

You can support Dr. Miller by becoming a subscriber to his Substack.

SEE YOU ON TUESDAY