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:, 42,932 UP 688 DOLLARS

Bitcoin: afternoon price: $43771 UP 1527 dollars

Platinum price closing $961.30 UP $9.50

Palladium price; $1232,75 UP $49.95

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: $2,714.47 DOWN $6.20 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)

*BRITISH GOLD: 1607.90 UP 4.77 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023

*EURO GOLD: 1856.66 DOWN 2.18 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: 2,038.400000000 USD
INTENT DATE: 12/19/2023 DELIVERY DATE: 12/21/2023
FIRM ORG FIRM NAME ISSUED STOPPED

118 C MACQUARIE FUT 338
363 H WELLS FARGO SEC 300
365 C MAREX CAPITAL M 20 17
435 H SCOTIA CAPITAL 17
661 C JP MORGAN 50 23
690 C ABN AMRO 5
737 C ADVANTAGE 67 43
991 H CME 4

TOTAL: 442 442
MONTH TO DATE: 14,472

JPMorgan stopped 23/442 contracts.

FOR DEC.:

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT: 442 NOTICES FOR 44200 OZ or 1.375TONNES

total notices so far: 14,472 contracts for 1,447,200 oz (45.014 tonnes)

FOR DEC:

SILVER NOTICES 128 NOTICE(S) FILED FOR 640,000 OZ/

total number of notices filed so far this month : 3209 for 16,045,000 oz

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END

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES

GLD

WITH GOLD DOWN $3.60//

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : / HUGE CHANGES IN GOLD INVENTORY AT THE GLD: /A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD//

INVENTORY RESTS AT 877.67 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP 28 CENTS AT THE SLV// NO CHANGES IN SILVER INVENTORY AT THE SLV: V/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 443,393 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A FAIR SIZED 277 CONTRACTS TO 127,549 AND CLOSER TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS FAIR SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN $0.27 IN SILVER PRICING AT THE COMEX ON MONDAY. WE HAD A ZERO LONG LIQUIDATION WITH CONSIDERABLE T.A.S. LIQUIDATION (AND SOME SHORT COVERING) AT THE COMEX SESSION. WE HAD A FAIR 427 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT: 427 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.

WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.27), AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A GOOD SIZED GAIN OF 412 OI CONTRACTS ON OUR TWO EXCHANGES.

WE MUST HAVE HAD:

A SMALL SIZED 135 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 20,000 OZ QUEUE JUMP + 0 CONTRACTS OF EX. FOR RISK FOR 0 MILLION OZ EX. FOR RISK //NEW TOTAL STANDING 18.055 MILLION OZ.+0 MILLION OZ (EX. FOR RISK TODAY) + 6.5 MILLION EX. FOR RISK/PRIOR= NEW TOTAL OF 24.555 MILLION OZ

//NEW STANDING FOR SILVER IS THUS 24.555 MILLION OZ

//FAIR SIZED COMEX OI GAIN/ SMALL SIZED EFP ISSUANCE/ VI) GOOD SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 501 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 89 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 14 days, total 10,998 contracts: OR 54.990MILLION OZ (785 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 54.990 MILLION OZ

LAST 23 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT: 94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

JAN 2022-DEC 2022

JAN 2022// 90.460 MILLION OZ

FEB 2022: 72.39 MILLION OZ//

MARCH 2022: 207.140 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT. 29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023/// 53.070 MILLION OZ //FINAL

FEB: 2023: 100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023: 112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL 118.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV. 50.050 MILLION OZ

DEC. 54.990 MILLION OZ//THIS IS GOING TO BE A STRONG ISSUANCE OF EFP’S FOR THIS MONTH.

RESULT: WE HAD A FAIR SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 277 CONTRACTS WITH OUR GAIN IN PRICE OF $0.27 IN SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A FAIR EFP ISSUANCE CONTRACTS: 135 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 20,000 OZ QUEUE JUMP /NEW TOTAL STANDING 18.055MILLION OZ//+0 MILLION EX. FOR RISK TODAY + 6.5 MILLION OZ EXCHANGE FOR RISK/PRIOR//NEW TOTAL 24,555 MILLION OZ.

NEW STANDING 24.555 million OZ /// WE HAVE A GOOD SIZED GAIN OF 412 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GOOD SIZED 427 CONTRACTS//CONSIDERABLE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX SESSION. THE NEW TAS ISSUANCE TUESDAY NIGHT (427 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE., .

WE HAD 128 NOTICE(S) FILED TODAY FOR 640,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A GOOD SIZED 3928 CONTRACTS TO 481,203 AND CLOSER TO 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 230 CONTRACTS

WE HAD A GOOD SIZED INCREASE IN COMEX OI ( 3928 CONTRACTS) WITH OUR $12.15 GAIN IN PRICE//TUESDAY. WE ALSO HAD A RATHER LIGHT INITIAL STANDING IN GOLD TONNAGE FOR DEC.. AT 44.914 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 43,810 OZ QUEUE JUMP + 0 ISSUANCE OF EX. FOR RISK CONTRACTS // TOTAL GOLD STANDING FOR DEC SO FAR INCREASES TO 50.058 TONNES // ALL OF..THIS HAPPENED WITH OUR $12.15 GAIN IN PRICE WITH RESPECT TO TUESDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 5676 OI CONTRACTS (17.65) PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1748 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 481,203

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5676 CONTRACTS WITH 3928 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1748 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 5906 CONTRACTS. WE HAD 0 CONTRACTS EXCHANGE FOR RISK TODAYFOR 0.0 TONNES/EX FOR RISK PRIOR = 4.634 TOTAL //NEW TOTAL STANDING 45.424 TONNES + 4.634 TONNES= 50.058 TONNES.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 2293 CONTRACTS.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1748 CONTRACTS) ACCOMPANYING THE GOOD SIZED GAIN IN COMEX OI (3928) //TOTAL GAIN FOR OUR THE TWO EXCHANGES: 5676 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 43,810 OZ QUEUE JUMP + 4.634 TONNES EX. FOR RISK PRIOR//NEW STANDING 50.058TONNES / / 3) ZERO LONG LIQUIDATION AND CONSIDERABLE TAS LIQUIDATION WITH SOME SHORT LIQUIDATION (COVERING) 4) GOOD SIZED COMEX OPEN INTEREST GAIN/ 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: FAIR T.A.S. ISSUANCE: 2293 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023 INCLUDING TODAY

DEC

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC. :

TOTAL EFP CONTRACTS ISSUED: 55,547 CONTRACTS OR 5,554,700 OZ OR 172.774TONNES IN 14 TRADING DAY(S) AND THUS AVERAGING: 3396 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 14 TRADING DAY(S) IN TONNES 172.774TONNES

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

THUS EFP TRANSFERS REPRESENTS 172.774/3550 x 100% TONNES 4,87% 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. 172.774 TONNES.

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF 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 ROSE BY A GOOD SIZED 277 CONTRACTS OI TO 127,549 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 135 CONTRACTS

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

MARCH 135 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 135 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 277 CONTRACTS AND ADD TO THE 135 OI TRANSFERRED TO LONDON THROUGH EFP’S,

WE OBTAIN A GOOD SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 412 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 2.060 MILLION OZ

OCCURRED WITH OUR $.27 GAIN IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY NIGHTSHANGHAI CLOSED DOWN 30.28 PTS OR 1.03% //Hang Seng CLOSED UP 108.81 PTS OR 0.66% /The Nikkei CLOSED UP 456.55PTS OR 1.37% //Australia’s all ordinaries CLOSED UP 0.65 % /Chinese yuan (ONSHORE) closed DOWN AT 7.1379 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1437 /Oil UP TO 74.96 dollars per barrel for WTI and BRENT UP AT 80.12/ Stocks in Europe OPENED ALL MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A GOOD SIZED 3928 CONTRACTS TO 481,203 WITH OUR GAIN IN PRICE OF $12.15 WITH RESPECT TO TUESDAY TRADING. WE MUST HAVE HAD ZERO LONG SPEC LIQUIDATIONS IN THE COMEX SESSION WITH SOME SPEC SHORT COVERINGS DURING TODAY’S RUN UP IN PRICE.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS 1748 EFP CONTRACTS WERE ISSUED: : FEB 1748 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1748 CONTRACTS

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 5676 CONTRACTS IN THAT 1748 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A GOOD SIZED GAIN OF 3928 COMEX CONTRACTS..AND THIS FAIR GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $12.15//TUESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT WAS A FAIR SIZED 2293 CONTRACTS. THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS SOLD OFF THE LONG SIDE OF THE SPREAD WHICH OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR SPREAD WHICH WILL BE LIQUIDATED TWO MONTHS HENCE)//.

// WE HAVE A LIGHT AMOUNT OF GOLD TONNAGE STANDING: DEC (50.058 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. 45.424 + 4.634 TONNES OF EXCHANGE FOR RISK = 50.058TONNES

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT GAINED $12.15) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED GAIN OF 5676 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A FAIR T.A.S. LIQUIDATION ON THE FRONT END OF TUESDAY’S TRADING . THE T.A.S. ISSUED ON TUESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED CONSIDERABLE SPECULATOR SHORT COVERING

WE HAVE GAINED A TOTAL OI OF 17,65 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 43,810 OZ QUEUE JUMP (FOR 1.362 TONNES)//NEW TOTAL STANDING FALLS TO 45.525 + 4.634 TONNES EXCHANGE FOR RISK : NEW TOTAL 50.058 TONNES../ ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $12.15

WE HAD -removed 230 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)

NET GAIN ON THE TWO EXCHANGES 5676 CONTRACTS OR 567,600 OZ OR 17,65 TONNES.

Estimated gold volume today:// 112,378 poor

final gold volumes/yesterday 150,672 poor

//speculators have left the gold arena

DEC 20

/ /// THE DEC. 2023 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	406.65 OZ ASAHAI .
Deposit to the Dealer* Inventory in oz*	nil
Deposits to the Customer* Inventory, in oz*	nil oz
No of oz served (contracts) today	442 notice(s) 44,200 OZ 0.3732 TONNES
No of oz to be served (notices)	132 contracts 13,200 oz 0.4105 TONNES
Total monthly oz gold served (contracts) so far this month	14,472 notices 1,447,200 oz 45.014 TONNES
Total accumulative withdrawals of gold from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of gold from the Customer* inventory this month*	x

0 dealer deposit:

total dealer deposits: nil oz

customer deposits: 0

we had 1

I) customer withdrawals

I) out of Ashai: 406.65 oz

total withdrawals 406.65 oz

Adjustments; 1

1.dealer to customer/JPMorgan 482.265 oz (15 kilobars)

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR DEC.

For the front month of DECEMBER we have an oi of 574 contracts having GAINED 318 contracts. .We had 120

contracts served upon MONDAY, so we GAINED or an additional 438 CONTRACTS OR 43,800 OZ (1.362 tonnes) will stand for delivery at the comex

JAN. LOST 104 contracts FALLING TO 3148 contracts.

FEB GAINED 1481 CONTRACTS RISING TO 369,903

We had 442 contracts filed for today representing 44,200 oz

Today, 0 notice(s) were issued from J.P.Morgan dealer account and 50 notices were issued from their client or customer account. The total of all issuance by all participants equate to 442 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 9 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 (14,472x 100 oz ), to which we add the difference between the open interest for the front month of DEC. (574 CONTRACTS) minus the number of notices served upon today 442 x 100 oz per contract equals 1,460,400 OZ OR 45.424 TONNES + 4.634 TONNES EX. FOR RISK ISSUED/PRIOR/ (FOR DELIVERY HERE) = 50.058 TONNES.

thus the INITIAL standings for gold for the DEC. contract month: No of notices filed so far (14,472) x 100 oz + (x574) {OI for the front month} minus the number of notices served upon today (442) x 100 oz) which equals 1,460,400 oz standing OR 45.424 TONNES + 4.634 tonnes of ex. for risk = 50/058 TONNES

TOTAL COMEX GOLD STANDING FOR DEC: 50.058 TONNES WHICH IS LIGHT FOR THE BIGGEST ACTIVE DELIVERY MONTH IN THE CALENDAR. THEY PROBABLY KNOW THAT NO REAL GOLD IS PRESENT AT THE COMEX.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES

204,937.290 PLEDGED MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes

265,999.054, oz JPM No 2

1,152,376.639 oz pledged Brinks/

Manfra: 33,758.550 oz

Delaware: 193.721 oz

International Delaware:: 11,188.542 oz

total pledged gold: 1,559,349.955 OZ 48.50 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 20,065,605.091 OZ

TOTAL REGISTERED GOLD 10,259,177.197 (319,.103 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,806,427.894 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 8,699828 oz (REG GOLD- PLEDGED GOLD) 270,60 tonnes

END

SILVER/COMEX

DEC 20

//2023// THE DEC 2023 SILVER CONTRACT

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	2048.774 oz Delaware .
Deposits to the Dealer* Inventory*	589,200.700OZ ASAHI
Deposits to the Customer Inventory	2,024,374.027oz ASAHI Brinks Loomis Manfra
No of oz served today (contracts)	128 CONTRACT(S) (640,000 OZ)
No of oz to be served (notices)	402 contracts (2,010,000 oz)
Total monthly oz silver served (contracts)	3209 Contracts (16,045,000 oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 1 dealer deposit

i) Into dealer ASAHI: 589,200.700 oz

total dealer deposit: 589,200.7000 oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 4 deposits customer account:

i) Into ASAHI: 19,343.600 oz

ii) Into Brinks: 482,666.920 oz

iii) Into Loomis: 582,826.360 oz

iv) Into Manfra 939,537.147 oz

total customer deposits: 2,024,374.027 oz

JPMorgan has a total silver weight: 133.1390 million oz/274.629 million or 48.43%

Comex withdrawals 1

i) Out of Delaware: 2048.774 oz

total withdrawals 2048.774 oz

Adjustments; 0

TOTAL REGISTERED SILVER: 46.129 MILLION OZ//.TOTAL REG + ELIGIBLE. 272.017 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:

silver open interest data:

FRONT MONTH OF DEC /2023 OI: 530 CONTRACTS HAVING LOST 123 CONTRACT(S).

WE HAD 127 CONTRACTS SERVED ON MONDAY, SO WE GAINED 4 CONTRACTS OR 20,000 OZ UNDERWENT A

QUEUE JUMP TAKING DELIVERY OVER AT THE COMEX

JAN LOST 19 CONTRACTS UP TO 1805 CONTRACTS

FEB GAINED 21 CONTRACTS TO STAND AT 372

MARCH GAINED 440 CONTRACTS TO 105,580.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 128 for 640,000 oz

Comex volumes// est. volume today 42,027// poor

Comex volume: confirmed yesterday 39,354 poor

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 3209 x 5,000 oz = 16,045,000 oz

to which we add the difference between the open interest for the front month of DEC. (530) and the number of notices served upon today 128 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the DEC/2023 contract month: 3209 (notices served so far) x 5000 oz + OI for the front month of DEC. (530) – number of notices served upon today (128 )x 500 oz of silver standing for the DEC contract month equates to 18.055 MILLION OZ. to which we add 0 million oz of exchange for risk today and then add prior exchange for risk of 6.5 million oz//

New total standing: 24,555 million oz.

There are 46.129 million oz of registered silver.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44

END

GLD AND SLV INVENTORY LEVELS//

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

DEC 20/WITH GOLD DOWN $3.60 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 2.02 TONNES OF GOLD FROM THE GLD//. // INVENTORY RESTS AT 877.67 TONNES

DEC19/WITH GOLD UP $12.15 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:. // INVENTORY RESTS AT 879.69 TONNES

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

GLD INVENTORY: 877.67 TONNES

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

DEC 20/WITH SILVER UP 28 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: NO CHANGES IN SILVER INVENTORY AT THE SLV//////INVENTORY RESTS AT 443.393 MILLION OZ

DEC 19/WITH SILVER UP 27 CENTS TODAY:BIG CHANGES IN SILVER INVENTORY AT THE SLV/: A MASSIVE DEPOSIT OF 2.747 MILLION OZ INTO THE SLV////INVENTORY RESTS AT 443.393 MILLION OZ

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

CLOSING INVENTORY 443.393 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1:Peter Schiff/Mike Maharrey

The World Is Sitting On A Powder-Keg Of Debt

WEDNESDAY, DEC 20, 2023 – 06:30 AM

Authored by Michael Maharrey via SchiffGold.com,

The Federal Reserve recently surrendered in its inflation fight. But price inflation is nowhere near the 2% target. Why did the Fed raise the white flag prematurely?

One of the major reasons is debt.

The world is buried under record debt levels and the global economy can’t function in a high interest rate environment.

Fed officials know that and it is certainly one of the reasons they don’t want to raise rates any higher and hope to bring them down as soon as possible.

Over a decade of easy money policies incentivized borrowing to “stimulate” the economy. As a result, governments, individuals, and corporations all borrowed to the hilt. That was all well and good when interest rates were hovering around zero, but when central banks had to hike rates to battle the inevitable price inflation, it pulled the rug out from under the borrow-and-spend economy.

Governments around the world are feeling the squeeze as they try to deal with trillions in debt in a rising interest rate environment.

According to projections by the International Monetary Fund (IMF) global government debt will hit $97.1 trillion in 2023. That represents a 40% increase since 2019.

By 2028, the IMF projects that global public debt will exceed 100% of global GDP. The only other time global debt-to-GDP was that high was at the height of the pandemic lockdowns.

Americans like to brag about being number one. Well, when it comes to debt, they’re right.

The US national debt makes up 32.4% of the total global government debt.

According to the IMF, America’s debt-to-GDP ratio stands at 123.3%.

This chart by Visual Capitalist captures the extent of the problem.

THE DEBT SPIRAL

Unless governments dramatically cut spending and/or raise taxes, this debt spiral will only get worse, especially if interest rates remain elevated.

The situation in the United States underscores the problem.

The national debt blew past $33 trillion on Sept. 15. Just 20 days later, it pushed about $33.5 trillion. It is now just a tick below $34 trillion.

Meanwhile, interest expense rose by 23% to $879 billion in fiscal 2023. Net interest, excluding intragovernmental transfers to trust funds, rose by 39% to $659 billion. Both of those numbers broke records.

Rising interest rates drove interest payments to over 35% as a percentage of total tax receipts in fiscal 2023. In other words, the government is already paying more than a third of the taxes it collects on interest expense.

The federal government spent $79.92 billion in interest expense to finance the national debt in November alone. That was more than national defense ($70 billion) and more than Medicare ($79 billion). The only higher spending category was Social Security.

Interest expense is only going to grow.

A lot of the debt currently on the books was financed at very low rates before the Federal Reserve started its hiking cycle. Every month, some of that super-low-yielding paper matures and has to be replaced by bonds yielding much higher rates. The weighted average interest rate on the government’s $26 trillion of outstanding Treasury securities rose to 3.10% in November. That compares with a weighted average rate of 2.22% in November 2022.

The bottom line is interest payments will continue to quickly climb much higher unless rates fall.

Financial analyst Jim Grant doesn’t think that will happen. He thinks we’re at the beginning of a generational bear market in bonds that will keep rates higher for the next several decades — no matter what the Federal Reserve does.

His analysis makes sense. As governments around the world struggle to finance more and more debt, the supply of government bonds in the market grows. That puts upward pressure on interest rates. Even if central banks try to push rates down, it will be a constant tug-o-war with the markets.

That means the only way out of this fiscal death spiral is significant spending cuts.

And we all know that the likelihood of significant government spending cuts is pretty close to zero.

The fuse is on a slow burn but at some point, the debt powder keg will blow. The results won’t be pretty.

END

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

As the dollar goes to ZERO, Gold will reach unthinkable heights.

Egon von Greyerz
December 20, 2023

Matterhorn Asset Management founder, Egon von Greyerz, sits down with Darryl and Brian Panes from as Good as Gold Australia to discuss the major economic and precious metal themes, including the slow and now more imminent demise of the global financial system in the wake of irrational and destructive credit expansion.

With necessary humor and humility, Egon discusses how this otherwise serious and destructive debt and currency cycle, warned decades ago, is reaching its objective (and exponential) culmination following the American closing of the gold window in 1971.

Toward this end, von Greyerz tracks how US debt/GDP in particular and the global debt/GDP in general foreshadows inevitable and greater money creation. This leads to an equally inevitable (and accelerating) currency destruction for which current global leadership is either too ignorant or arrogant to openly comprehend (or at least honestly confess).

As von Greyerz reminds, not only does basic math confirms such trends, but history even more so. Unfortunately, leaders and citizens are often blind to (and hence ripe to repeat) these historical lessons/examples, from Ancient Rome to today.

As debt levels grow so high that only debased currencies can sustain them, credit systems suffer, inflation becomes the end game, one that is marked by attendant and rising social and geopolitical conflicts, answered by increasingly centralized governmental policies.

In this backdrop, including the rise of the BRICS and the slow trend away from the USD due to myopic (stupid) Western sanctions against Russia, the discussion turns to preparing for, rather than arguing over, the inevitable, regardless of how impossible such massive shifts are to time with precision. Despite the USD’s relative strength, its inherent purchasing power, like that of all fiat currencies, will sink to the bottom, and there is “no first prize for falling to the bottom first.”

The conversation naturally turns toward gold as an obvious asset to protect against these open currency and hence wealth risks.

END

3. CHRIS POWELL//GATA GOLD COMMENTARIES:

LME plans new metals contracts using Shanghai prices, sources tell Reuters

Submitted by admin on Tue, 2023-12-19 08:56Section: Daily Dispatches

By Pratima Desai and Siyi Liu
Reuters
Monday, December 18, 2023

The London Metal Exchange is planning to launch new metals contracts using prices from the Shanghai Futures Exchange, three industry sources familiar with the matter said, increasing China’s influence on global metals markets.

Collaboration between the 146-year-old LME and ShFE was mentioned briefly by LME’s Chief Executive Matthew Chamberlain in October at the annual LME Week dinner, without any detail.

Two years ago the idea of China allowing an overseas exchange to use domestic prices would have been met with reluctance, but since then there has been a sea-change in strategic direction at Chinese exchanges, the sources said.

The change has come due to pressure on Chinese exchanges from the government to innovate and expand their influence to the rest of the world and China’s aim of domestic players having more control over commodity prices.

Known as cross-listing, the process would involve new LME metal contracts settling against ShFE prices, the sources said. The sources did not have a timeline for launch. …

It is not known which metals are involved in this initiative, but copper and aluminium are both high volume contracts on both ShFE and the LME, owned by owned Hong Kong Exchanges and Clearing. …

… For the remainder of the report:

https://tinyurl.com/6u9j33cj

* * *

END

4. OTHER GOLD/SILVER //COMMENTARIES//PODCASTS…

end

5 a. IMPORTANT COMMENTARIES ON COMMODITIES /

END

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

end

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

ONSHORE YUAN: CLOSED DOWN AT 7.1379

OFFSHORE YUAN: DOWN TO 7.1487

SHANGHAI CLOSED DOWN 30.28 PTS OR 1.03%

HANG SENG CLOSED UP 108.81 PTS OR 0.66%

2. Nikkei closed UP 456.55 PTS OR 1.37%

3. Europe stocks SO FAR: MOSTLY MIXED

USA dollar INDEX UP TO 102.10 EURO FALLS TO 1.0940 DOWN 39 BASIS PTS

3b Japan 10 YR bond yield:FALLS TO. +.553 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 143.52/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 DOWN /JAPANESE Yen UP CHINESE ONSHORE YUAN: DOWN// OFFSHORE: DOWN

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

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

3g Oil 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 +1.9635***/Italian 10 Yr bond yield DOWN to 3.595** /SPAIN 10 YR BOND YIELD DOWN TO 2.909…**

3i Greek 10 year bond yield DOWN TO 3.036

3j Gold at $2035.20 silver at: 24.02 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 29 /100 roubles/dollar; ROUBLE AT 90.35//

3m oil into the 74 dollar handle for WTI and 80 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 143,52// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.551% 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 0.8647 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9460 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: 3.879 DOWN 8 BASIS PTS…

USA 30 YR BOND YIELD: 4.001 DOWN 4 BASIS PTS/

USA 2 YR BOND YIELD: 4.373 DOWN 6 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 29.14…(TURKEY SET TO BLOW UP FINANCIALLY)

GREAT BRITAIN/10 YEAR YIELD: DOWN 9 BASIS PTS AT 3.5610

end

2.a Overnight: Newsquawk and Zero hedge.

Futures Slide, Brent Jumps Back Over $80 As Red Sea Woes Spread

WEDNESDAY, DEC 20, 2023 – 08:15 AM

US equity futures and global markets reversed their torrid rally as bonds rallied and the dollar gained after a fresh batch of soft inflation data in the UK boosted the likelihood of interest-rate cuts, but also underscored the risk of an economic downturn. As of 7:45am, S&P eminis dropped 0.2% after the index notched a record high for the third successive session, with European and Asian stocks in the red. Germany 10-year yields dropped below 2% for the first time in nine months after a report showed producer prices fell more than expected in November. Meanwhile, British 10-year borrowing costs slid as much as 11 basis points as slower-than-expected inflation boosted the case for multiple rate cuts next year. Treasury yields slid four basis points to 3.9%, down more than 40 this month. Brent jumped above $80 to a 3 week high after the US considered possible military strikes against Houthi rebels in Yemen, in a recognition that a newly announced maritime task force meant to protect commercial ships in the Red Sea may not be enough to eliminate the threat to the vital waterway. US economic data includes 3Q current account balance (8:30am), November existing home sales and December consumer confidence (10am).

In premarket trading, FedEx shares tumbled as 10% after the parcel company’s fiscal second-quarter profit came in below expectations, with analysts pointing to a particularly disappointing performance from the Express air-freight unit, which was hit by slowing volumes. Brokers added that the company’s outlook lacked visibility, with Citi calling it “vague.” Here are some other notable premarket movers:

Cinemark dropped 2.3% as Wells Fargo downgrades the movie theater operator to underweight from equal-weight based on an unattractive box office outlook.
Clear Channel shares rose 4.2% after Wells Fargo Securities raised the recommendation on the advertising company to overweight from equal-weight. The broker says the upgrade comes as the company returns to growth.
Coupang shares slid 1.2% as UBS downgrades its rating to neutral, awaiting greater clarity on the e-commerce company’s strategy.

Markets have rallied hard in recent weeks after the Fed’s dovish pivot which helped put the tech-heavy Nasdaq 100 on course for its best year since 1999, while the S&P 500 is less than 1% off its record closing peak. Bulls got fresh encouragement Tuesday from Richmond Fed President Thomas Barkin, who suggested the US central bank would “respond appropriately” if recent progress on inflation continued. Money markets now price almost a 50% chance of an euro-area rate cut by next March, while seeing an even higher probability of a Fed cut that month. That said, even Powell’s unofficial mouthpiece, Nikileaks, aka Nick Timiraos is now warning that the market that it has gone up too far, too fast.

At the same time, investors are also having to balance rate-cut optimism against the risk of economic recession. Recent data has backed that view, especially in the euro area, with analysts surveyed by Bloomberg forecasting the first recession since the pandemic.

“It’s hard to see such a fast and deep rate-cutting cycle as the market appears to assume, unless the base case is a deep recession,” said Daniele Antonucci, chief investment officer at Quintet Private Bank.

Investors are also starting to weigh risks stemming from potential shipping delays and freight cost increases, as companies divert cargoes away from the Red Sea to avoid militant attacks. This rerouting will mean higher shipping costs and longer delivery time, and has helped push brent crude prices above $80 for the first time in 3 weeks.

The big econ news overnight was the latest confirmation that a global deflationary wave is being unleashed, with UK reporting inflation that came in below the lowest estimate. The UK data “adds to the mounting evidence that global inflation has begun to crumble on a broader basis,” said Christoph Rieger, head of rates research at Commerzbank.

While the data initially boosted European stocks, gains on the Stoxx 600 index quickly evaporated, though London’s export-oriented FTSE 100 benchmark held its gains as the pound tumbled on the prospect of looser monetary policy. The telecom sector lead the advance, boosted by Spain’s Telefonica. The health-care sector underperforms, meanwhile, dragged lower by Argenx, which plunges after disappointing drug trial data. Among single stocks, shipping companies Hapag Lloyd AG and AP Moller-Maersk A/S rallied as militant attacks continued to disrupt Red Sea container traffic. Here are the biggest movers Wednesday:

Telefonica shares jump as much as 7.2% after the Spanish state unveiled a plan to buy up to 10% in the telecom operator to counter stakebuilding by Saudi Telecom Co.
Intertek gains as much as 3.7% after BNP Paribas Exane double-upgrades to outperform, saying in note that consensus is now overly bearish on margin outlook
Raiffeisen Bank surges 12%, the most since March 2022, following its deal to buy a stake in Austrian construction company Strabag, with Citi upgrading the stock to buy from neutral
British stocks rally as data showed inflation in the UK slowed far more than expectations, driving European stocks closer to early 2022 record, with landlords leading the advance
Indivior gains as much as 4.5% after settling a drug patent dispute with rival Actavis, which now is granted a license to the patent that would enable Actavis to launch a generic variant
Ionos gains for a ninth day as Morgan Stanley says the webhosting firm has delivered “two early Christmas presents” in strong guidance on Tuesday and last week’s debt refinancing.
Argenx shares plunge as much as 35% after its key drug Vyvgart (efgartigimod) failed another trial, a second setback in less than a month for the Brussels-listed biotech firm
DS Smith falls as much as 2.8% after UBS downgraded the paper and packaging company to neutral from buy, saying the downgrade reflects weaker containerboard prices
Inficon shares fell as much as 5.3%, the most in two months, after the Swiss vacuum instruments manufacturer was downgraded to reduce from add at Baader Helvea
Resurs Holding drops as much as 8.3% after SEB Equities downgrades the retail finance company to sell from hold, giving the stock its only negative analyst rating

In FX, GBP/USD falls as much as 0.7% to below $1.27 after UK CPI data, EUR/USD down 0.3%; the Bloomberg Dollar Spot Index is largely unchanged as the US currency’s gains versus European currencies are offset by its slide against the yen. The Japanese yen is the best performer among the G-10 currencies, rising 0.3% versus the greenback on false expectations that the BOJ will end its negative rate policy in the coming months which has supported the yen. The dollar has been struggling as investors seek more guidance from the Fed on how soon it will begin cutting rates next year as inflation slows; however Chicago Fed’s Goolsbee said on Tuesday that the market may be getting ahead of itself when it comes to rate cuts.

“Speculative bets on a BOJ policy change are likely to ease for now,” said Fukuhiro Ezawa, head of financial markets in Tokyo at Standard Chartered Bank. “Markets price in deep Fed rate cuts, weighing on the dollar” against peers including the yen, he said

In rates, the yield on the 10-year US Treasury slips 4bps to 3.88%, its lowest since late July. Traders are betting that the Fed will cut rates by 150bps by the end of 2024, compared with around 140 bps on Tuesday. UK gilts rallied while the pound drops after data showed UK inflation slowed more than expected in November, fueling bets on interest rate cuts by the Bank of England next year. UK two-year yields fall 15 basis points to 4.14%, a seven-month low.

In commodities, oil extended its recent rally amid prospects of more disruptions in the Red Sea, while the US weighs military strikes on Houthis. Brent jumped above $80 to a three week high. Brent March call options in the $90s were active again on Tuesday as traders continue to weigh the risks to traffic in the Red Sea. WTI’s second-month 25-delta put skew was the least bearish since mid-November. Brent’s prompt spread climbed to the strongest since Dec. 5, while its Dec.-Dec. spread was the firmest this month.

Bitcoin (+0.6%) and Ethereum (+1.2%) extended gains as BTC rose back over USD 43k. BlackRock, Nasdaq, SEC met regarding a Bitcoin (BTC) ETF, via CoinDesk

Looking to the day ahead now, and data releases from the US include the Conference Board’s consumer confidence for December, existing home sales for November, and the Q3 current account balance. In the Euro Area, there’s the European Commission’s preliminary consumer confidence indicator for December, and there’s also the UK CPI and German PPI readings for November. From central banks, we’ll hear from the Fed’s Goolsbee and the ECB’s Lane.

Market Snapshot

S&P 500 futures down 0.2% to 4,812.50
STOXX Europe 600 little changed at 476.63
MXAP up 0.5% to 165.32
MXAPJ up 0.2% to 515.45
Nikkei up 1.4% to 33,675.94
Topix up 0.7% to 2,349.38
Hang Seng Index up 0.7% to 16,613.81
Shanghai Composite down 1.0% to 2,902.11
Sensex down 1.1% to 70,636.67
Australia S&P/ASX 200 up 0.7% to 7,537.88
Kospi up 1.8% to 2,614.30
German 10Y yield little changed at 1.99%
Euro down 0.2% to $1.0961
Brent Futures up 0.8% to $79.87/bbl
Gold spot up 0.1% to $2,041.67
U.S. Dollar Index little changed at 102.26

Top Overnight News

Bond yields across the euro region fell on Wednesday as worsening economic data and slowing inflation underscored expectations for interest-rate cuts next year.
UK inflation slowed far more than economists forecast in November, a surprise that prompted traders to boost bets the Bank of England will soon have to abandon its higher-for-longer narrative on interest rates.
Attacks in the Red Sea linked to the Israel-Hamas war will cause shipping delays and drive up the price of goods, bringing a new inflation risk to the economy.
Jonathan Hoffman, John Bonello and Jonathan Tipermas share more than just similar first names. They’re the driving force behind a gigantic wager on government debt that’s been giving regulators sleepless nights.
Donald Trump is ineligible to serve as US president because of his actions inciting the Jan. 6, 2021 attack on the US Capitol, Colorado’s highest court found, in an unprecedented ruling that’s headed for the US Supreme Court.
Throngs of consultants wearing Western attire have become a common sight in the lobbies of Riyadh’s plushest hotels as Crown Prince Mohammed Bin Salman embarks on a multi-trillion dollar plan to wean Saudi Arabia off oil. In recent months they’ve been joined by another cohort of besuited individuals: fund managers, keen to get an early foothold in the next big emerging-market growth story.

A more detailed look at global markets courtesy of NEwsquawk

Asia-Pac stocks traded mostly positively following the tailwinds from Wall Street, although newsflow overnight was on the quieter side amid the pre-Christmas lull. ASX 200 saw its upside supported by the Energy and Metals sectors, whilst Tech lagged with shallower gains. Nikkei 225 surged as the index reacted to BoJ Governor Ueda’s dovish press conference following the unchanged announcement yesterday. Hang Seng and Shanghai Comp traded mixed with the former’s gains spearheaded by large caps with US listings, including Alibaba, JD.com, and Baidu. Mainland China was subdued after PBoC maintained its Loan Prime Rates as expected and despite more liquidity injections by the central bank.

Top Asian News

PBoC maintained its 1-year and 5-year LPRs at 3.45% and 4.20% respectively, as expected.
PBoC injected CNY 134bln through 7-day reverse repos at 1.80% and CNY 151bln via 14-day reverse repos at 1.95%; both rates maintained
The Japanese government is to raise its long-term interest rate estimate to 1.9% for FY24 from 1.1% in FY23, according to Nikkei.
Japanese Cabinet projects that income will increase more than prices in FY24, according to Nikkei.
State-backed developer China South City averts default on July 2024 note after consent from bondholders, according to SCMP.
RBNZ Governor Orr said interest rates are restricting spending and levels of core inflation remain too high, according to the Parliamentary hearing. He noted that Q3 GDP was surprisingly subdued, and inflation remains too high and the committee remains wary of ongoing inflationary surprises. He said the neutral interest rate is now 2.5%.
New Zealand DMO and fiscal update: gross bond issuance for four years to June 2027 now totals NZD 136bln, up from NZD 129bln in the budget. 2023/24 gross bond issuance increases to NZD 38bln from NZD 36bln in budget. Treasury sees GDP growth in Q4 23 and through 2024.
Japan is to draft an initial FY24 budget of JPY 112tln, via Kyodo News
Japanese government is to lower the scheduled sales of JGBs to market by 11.2% from FY23 plan to JPY 171tln in FY24/25, via Reuters citing a draft

European bourses, Eurostoxx50 (-0.2%), are marginally weaker having spent much of the morning the green; the FTSE 100 (+0.8%) outperforms post-UK CPI. European sectors are mixed with Energy outperforming lifted by gains in underlying Crude prices and Telefonica (+5%) helps lift Telecoms; Technology narrowly lags. US Equity Futures are lower across the board as the Santa Rally comes to a pause, ES (-0.2%); FedEx (-9.9%) extends losses in the pre-market post-earnings.

Top European News

ECB’s Nagel says there is a high probability that the interest rate peak has been reached, according to t-online; would say to everyone who is speculating on an imminent interest rate cut: be careful, some people have already speculated.
France and Germany see an EU deal on fiscal rules on Wednesday, according to Bloomberg.
Bank of France Survey: Expectations for inflation one year out ease to 3.5% in Q4 (prev. 4%); 3.5% increase in wages (prev. 3%)

DXY propped up by the softer Pound and Euro, though with gains capped by upside in the Yen; within a 102.14-34 range.
The Pound is the G10 laggard post-CPI, falling to a session low of 1.2648.
EUR is weighed on by the firmer Dollar, with softer German PPI unhelpful for the Single-Currency while EUR/GBP action offers only marginal respite.
The Yen is the best performer amongst the G10s, paring back some of yesterday’s BoJ’s induced losses, but yet to test 143.00.
PBoC sets USD/CNY mid-point at 7.0966 vs exp. 7.1300 (prev. 7.0982)

Fixed Income

USTs are modestly higher in tandem with Gilts as markets await the US 20yr auction and further speak from Fed’s Goolsbee.
Gilts outperforms after cooler-than-expected UK CPI, adding to dovish expectations for 2024; gapped higher by almost 100 ticks and thereafter eclipsed 103.00.
Bunds are bid in conjunction with Gilts and after its own softer Producer Prices metrics; German 10yr yield sub-2.0% for the first time since March.

Commodities

WTI and Brent (+1.2%) are bid having spent the overnight session relatively indecisive; specifics have been light and largely led by geopolitical themes.
Spot Gold (-0.1%) resides on either side of the unchanged mark, holding on to the prior day’s gains; Base metals are generally in the green, though with gains capped amid poorer sentiment in China overnight.
Intensive talks are underway on a potential second Gaza truce, via Reuters citing sources; envoys looking at which hostages could go free.

Geopolitics

US reportedly weighs whether to attack Houthis beyond defensive task force and possible strikes on Houthis in Yemen considered, according to Bloomberg sources; no decision made yet on striking Houthis. The US and its allies are considering possible military strikes against Houthi rebels in Yemen, in recognition that a newly announced maritime task force meant to protect commercial ships in the Red Sea may not be enough to eliminate the threat to the vital waterway. Planning is underway for actions intended to cripple the Houthis’ ability to target commercial ships by hitting the militant group at the source.
Israel is offering to pause the fighting in Gaza for at least one week as part of a new deal to get Hamas to release more than three dozen hostages, according to Axios sources.
Malaysia bans Israeli-based shipping firm Zim from its ports, with the ban set to take effect immediately, according to the Malaysian PM.

US Event Calendar

07:00: Dec. MBA Mortgage Applications -1.5%, prior 7.4%
08:30: 3Q Current Account Balance, est. -$196b, prior -$212.1b
10:00: Nov. Home Resales with Condos, est. 3.78m, prior 3.79m
- Nov. Existing Home Sales MoM, est. -0.4%, prior -4.1%
10:00: Dec. Conf. Board Consumer Confidence, est. 104.5, prior 102.0
- Dec. Conf. Board Present Situation, prior 138.2
- Dec. Conf. Board Expectations, prior 77.8

DB’s Henry Allen concludes the overnight wrap

The relentless market rally has continued over the last 24 hours, with investors remaining confident that central banks will soon pivot towards rate cuts, despite the pushback from several officials over recent days. In fact, yesterday saw the S&P 500 (+0.59%) hit another 23-month high, which leaves the index less than 1% beneath its all-time closing peak back in January 2022. That also means t he index has now risen by +15.8% in less than two months, and we haven’t seen an advance that fast since March-May 2020, back when the S&P 500 was recovering from the initial Covid selloff. At the same time, sovereign bonds have continued to rally, and overnight the 10yr Treasury yield has fallen to its lowest level since July, at 3.91% .

This growing anticipation of rate cuts was supported by Richmond Fed President Barkin, who said that “If you’re going to assume that inflation comes down nicely, of course we would respond appropriately”. That helped push Treasury yields lower, and offered support for the idea that the Fed would cut rates if inflation fell, since otherwise it would mean that policy was becoming more restrictive in real terms. But we also had a more hawkish take from Atlanta Fed President Bostic, who said that “there’s not going to be urgency for us to pull off our restrictive stance”, expecting only two rate cuts in 2024, rather than the three rate cuts that the median dot suggested. Both are voting members of the FOMC in 2024.

Against that backdrop, investors continued to price in a strong chance of a Fed rate cut by March, with the probability moving up from 75% to 83% yesterday. And it was the same story for the ECB, where the chance of a March cut rose from 35% to 49%, even as Latvia’s central bank governor said that “it is too early to declare victory over inflation” .

Those moves led to a s izeable rally in sovereign bonds in the European session. Yields on 10yr OATs (-8.5bps) fell to their lowest level since February, those on 10yr gilts (-4.3bps) fell to their lowest since April, and those on 10yr BTPs (-13.4bps) were at their lowest since December 2022. 10yr bund yields (-6.3bps) also fell back, although they were just above their closing level from Friday, at 2.01%. Over in the US, 10yr Treasury yields had traded nearly -4bps lower early on in the US session but were flat by the close (-0.1bps) at 3.93%, but overnight they’ve since fallen -2.4bps to 3.91%.

That growing conviction about rate cuts came despite some hawkish-leaning data that was released yesterday. For instance, Canada’s CPI print for November was stronger than expected, with headline CPI remaining at +3.1% (vs. +2.9% expected). Moreover, US housing starts also surprised on the upside, hitting a 6-month high in November as they rose to an annualised rate of 1.56m (vs. 1.36m expected). The release meant that the Atlanta Fed’s GDPNow estimate rose another tenth yesterday, and it now sees US Q4 GDP expanding at an annualised +2.7% pace .

The prospect of faster growth alongside rate cuts proved supportive for equities, and the S&P 500 (+0.59%) advanced for the 8th time in the last 9 sessions. It was a broad-based advance, with 23 of the 24 S&P 500 industry group up on the day and both the FANG+ index (+0.51%) and the Dow Jones (+0.68%) reaching all-time highs. Small-cap stocks did particularly well on the day, and the Russell 2000 (+1.94%) surpassed its recent peak in July to close at its highest level since August 2022. Meanwhile in Europe, the STOXX 600 (+0.36%) closed at a 22-month high, with its YTD gain now standing at +12.27%.

That optimism has been echoed in Asia overnight, where most indices have seen a decent rally. That includes the KOSPI (+1.65%), the Nikkei (+1.51%) and the Hang Seng (+1.08%), although the CSI 300 (-0.50%) and the Shanghai Comp (-0.42%) have seen an underperformance. That follows the move by Chinese banks to leave the 1yr and 5yr loan prime rate unchanged. Otherwise, US equity futures are broadly flat this morning, with those on the S&P 500 up +0.03%.

Meanwhile in Japan, sovereign bond yields have continued to fall after the BoJ’s decision to leave its policy unchanged yesterday, with the 10yr JGB yield down a further -6.4bps overnight to its lowest since July, at 0.55%. As we were going to press yesterday, Governor Ueda said in the press conference that there “isn’t much likelihood of us suddenly announcing that we’ll raise rates a month in advance”, so that’s a different approach to other central banks like the Fed, who tend to signal their moves in advance. Looking forward, investors still see a serious probability that the BoJ will move away from their negative interest rate policy over the months ahead, and currently they price in a 39% chance of a shift in January, and a 75% chance of a move by April. This morning, the Japanese yen has stabilised against the dollar, strengthening +0.10% to trade at 143.69 per dollar as we go to press. However, Japanese banks have continued to lose ground amidst the continuation of low borrowing costs, and the TOPIX Banks Index (-0.19%) is on track to lose ground for a 5th consecutive session, and is currently at its lowest level since July .

In the commodity space, oil prices advanced yesterday, with Brent crude up +1.64% to $79.23/bbl and WTI up +1.34% to $73.44/bbl. The two oil benchmarks have risen by +8.2% and +7.0% respectively over the past week, with the main driver being the pause of much commercial shipping via the Red Sea in response to recent attacks and rising perceptions of geopolitical risks.

To the day ahead now, and data releases from the US include the Conference Board’s consumer confidence for December, existing home sales for November, and the Q3 current account balance. In the Euro Area, there’s the European Commission’s preliminary consumer confidence indicator for December, and there’s also the UK CPI and German PPI readings for November. From central banks, we’ll hear from the Fed’s Goolsbee and the ECB’s Lane.

2 B) NOW NEWSQUAWK (EUROPE/REPORT)

Equities weaker, DXY firmer, Softer UK CPI leads GBP lower & Gilts bid; Fed’s Goolsbee due – Newsquawk US Market Open

WEDNESDAY, DEC 20, 2023 – 06:09 AM

European bourses and US Futures are weaker though the FTSE 100 (+0.8%) outperforms post-CPI
Dollar remains propped up; Pound lags after softer-than-expected CPI; Yen outperforms
Fixed is higher led by outperformance in Gilts as attention turns to US 20yr supply
Crude is firmer with overall specifics light; Spot Gold gives back some of yesterday’s gains whilst base metals are generally in the green
Looking ahead, EZ Consumer Confidence (Flash), US Consumer Confidence, BoC Minutes (Dec), ECB’s Lane; Fed’s Goolsbee, Supply from the US

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EUROPEAN TRADE

EQUITIES

European bourses, Eurostoxx50 (-0.2%), are marginally weaker having spent much of the morning the green; the FTSE 100 (+0.8%) outperforms post-UK CPI.
European sectors are mixed with Energy outperforming lifted by gains in underlying Crude prices and Telefonica (+5%) helps lift Telecoms; Technology narrowly lags.
US Equity Futures are lower across the board as the Santa Rally comes to a pause, ES (-0.2%); FedEx (-9.9%) extends losses in the pre-market post-earnings.
Click here and here for the sessions European pre-market equity newsflow, including earnings.
Click here for more details.

FX

DXY propped up by the softer Pound and Euro, though with gains capped by upside in the Yen; within a 102.14-34 range.
The Pound is the G10 laggard post-CPI, falling to a session low of 1.2648.
EUR is weighed on by the firmer Dollar, with softer German PPI unhelpful for the Single-Currency while EUR/GBP action offers only marginal respite.
The Yen is the best performer amongst the G10s, paring back some of yesterday’s BoJ’s induced losses, but yet to test 143.00.
PBoC sets USD/CNY mid-point at 7.0966 vs exp. 7.1300 (prev. 7.0982)
Click here for more details.
Click here for the Option Expires for the NY Cut.

FIXED INCOME

USTs are modestly higher in tandem with Gilts as markets await the US 20yr auction and further speak from Fed’s Goolsbee.
Gilts outperforms after cooler-than-expected UK CPI, adding to dovish expectations for 2024; gapped higher by almost 100 ticks and thereafter eclipsed 103.00.
Bunds are bid in conjunction with Gilts and after its own softer Producer Prices metrics; German 10yr yield sub-2.0% for the first time since March.
Click here for more details.

COMMODITIES

WTI and Brent (+1.2%) are bid having spent the overnight session relatively indecisive; specifics have been light and largely led by geopolitical themes.
Spot Gold (-0.1%) resides on either side of the unchanged mark, holding on to the prior day’s gains; Base metals are generally in the green, though with gains capped amid poorer sentiment in China overnight.
Intensive talks are underway on a potential second Gaza truce, via Reuters citing sources; envoys looking at which hostages could go free.
Click here for more details.

NOTABLE EUROPEAN HEADLINES

ECB’s Nagel says there is a high probability that the interest rate peak has been reached, according to t-online; would say to everyone who is speculating on an imminent interest rate cut: be careful, some people have already speculated.
France and Germany see an EU deal on fiscal rules on Wednesday, according to Bloomberg.
Bank of France Survey: Expectations for inflation one year out ease to 3.5% in Q4 (prev. 4%); 3.5% increase in wages (prev. 3%)

DATA RECAP

UK CPI YY (Nov) 3.9% vs. Exp. 4.4% (Prev. 4.6%); MM -0.2% vs. Exp. 0.1%; All Services 6.3% (prev. 6.6%). Click here for more
UK Core CPI MM (Nov) -0.3% vs. Exp. 0.2% (Prev. 0.3%); YY 5.1% vs. Exp. 5.6% (Prev. 5.7%)
UK RPI-X (Retail Prices) MM (Nov) -0.2% (Prev. -0.3%); YY 4.1% (Prev. 4.8%); MM -0.1% vs. Exp. 0.2% (Prev. -0.2%); YY 5.3% vs. Exp. 5.7% (Prev. 6.1%)
UK PPI Input Prices YY NSA (Nov) -2.6% vs. Exp. -3.3% (Prev. -2.6%); MM -0.3% vs. Exp. -0.8% (Prev. 0.4%)
UK PPI Output Prices YY NSA (Nov) -0.2% vs. Exp. -0.5% (Prev. -0.6%); MM -0.1% vs. Exp. -0.2% (Prev. 0.1%)
UK PPI Core Output YY NSA (Nov) 0.2% (Prev. 0.2%, Rev. 0.4%)
German Producer Prices MM (Nov) -0.5% vs. Exp. -0.3% (Prev. -0.1%); YY -7.9% vs. Exp. -7.5% (Prev. -11.0%)
German GfK Consumer Sentiment (Jan) -25.1 vs. Exp. -27.0 (Prev. -27.8, Rev. -27.6)
EU27 November New Car Registrations 6.7% (prev. 14.6%)

NOTABLE US HEADLINES

FedEx Corp (FDX) Q2 2024 (USD): adj. EPS 3.99 (exp. 4.20), Revenue 22.2bln (exp. 22.41bln); expects to buyback added 1bln of stock during FY24 Shares seen -9.9% in pre-market
Click here for the US Early Morning Note.

GEOPOLITICS

US reportedly weighs whether to attack Houthis beyond defensive task force and possible strikes on Houthis in Yemen considered, according to Bloomberg sources; no decision made yet on striking Houthis. The US and its allies are considering possible military strikes against Houthi rebels in Yemen, in recognition that a newly announced maritime task force meant to protect commercial ships in the Red Sea may not be enough to eliminate the threat to the vital waterway. Planning is underway for actions intended to cripple the Houthis’ ability to target commercial ships by hitting the militant group at the source.
Israel is offering to pause the fighting in Gaza for at least one week as part of a new deal to get Hamas to release more than three dozen hostages, according to Axios sources.
Malaysia bans Israeli-based shipping firm Zim from its ports, with the ban set to take effect immediately, according to the Malaysian PM.

CRYPTO

Bitcoin (+0.6%) and Ethereum (+1.2%) are extending gains as BTC sets its sight on USD 43k.
BlackRock, Nasdaq, SEC met regarding a Bitcoin (BTC) ETF, via CoinDesk

APAC TRADE

APAC stocks traded mostly positively following the tailwinds from Wall Street, although newsflow overnight was on the quieter side amid the pre-Christmas lull.
ASX 200 saw its upside supported by the Energy and Metals sectors, whilst Tech lagged with shallower gains.
Nikkei 225 surged as the index reacted to BoJ Governor Ueda’s dovish press conference following the unchanged announcement yesterday.
Hang Seng and Shanghai Comp traded mixed with the former’s gains spearheaded by large caps with US listings, including Alibaba, JD.com, and Baidu. Mainland China was subdued after PBoC maintained its Loan Prime Rates as expected and despite more liquidity injections by the central bank.

NOTABLE HEADLINES

PBoC maintained its 1-year and 5-year LPRs at 3.45% and 4.20% respectively, as expected.
PBoC injected CNY 134bln through 7-day reverse repos at 1.80% and CNY 151bln via 14-day reverse repos at 1.95%; both rates maintained
The Japanese government is to raise its long-term interest rate estimate to 1.9% for FY24 from 1.1% in FY23, according to Nikkei.
Japanese Cabinet projects that income will increase more than prices in FY24, according to Nikkei.
State-backed developer China South City averts default on July 2024 note after consent from bondholders, according to SCMP.
RBNZ Governor Orr said interest rates are restricting spending and levels of core inflation remain too high, according to the Parliamentary hearing. He noted that Q3 GDP was surprisingly subdued, and inflation remains too high and the committee remains wary of ongoing inflationary surprises. He said the neutral interest rate is now 2.5%.
New Zealand DMO and fiscal update: gross bond issuance for four years to June 2027 now totals NZD 136bln, up from NZD 129bln in the budget. 2023/24 gross bond issuance increases to NZD 38bln from NZD 36bln in budget. Treasury sees GDP growth in Q4 23 and through 2024.
Japan is to draft an initial FY24 budget of JPY 112tln, via Kyodo News
Japanese government is to lower the scheduled sales of JGBs to market by 11.2% from FY23 plan to JPY 171tln in FY24/25, via Reuters citing a draft

DATA RECAP

Japanese Trade Balance Total Yen (Nov) -776.9B vs. Exp. -962.4B (Prev. -662.5B, Rev. -661.0B)
Japanese Imports YY (Nov) -11.9% vs. Exp. -8.6% (Prev. -12.5%); Exports YY -0.2% vs. Exp. 1.5% (Prev. 1.6%); fell for the first time in three months
Australian MI Leading Index MM (Nov) 0.1% (Prev. 0.0%)

LATAM

Brazil raised to BB from BB- by S&P, Outlook Stable, following tax reform approval.
Chilean Interest Rate (Nov) 8.25% vs. Exp. 8.5% (Prev. 9.0%); decision unanimous
Colombian Central Bank cuts rates by 25bps to 13.00%, as expected, marking the first cut in three years, and decision backed by a “majority” of board members

2C ASIA AFFAIRS

WEDNESDAY MORNING/TUESDAY NIGHT

SHANGHAI CLOSED DOWN 30.28 PTS OR 1.03% //Hang Seng CLOSED UP 108.81 PTS OR 0.66% /The Nikkei CLOSED UP 456.55PTS OR 1.37% //Australia’s all ordinaries CLOSED UP 0.65 % /Chinese yuan (ONSHORE) closed DOWN AT 7.1379 /OFFSHORE CHINESE YUAN CLOSED DOWN TO 7.1437 /Oil UP TO 74.96 dollars per barrel for WTI and BRENT UP AT 80.12/ Stocks in Europe OPENED ALL MIXED// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE WEAKER

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

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

3 CHINA

CHINA

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

Inflation in UK coming down and that sets up odds of a rate cut. The pound tumbles on the news

(zerohedge)

BoE Rate-Cut Odds Soar, Cable Tumbles After UK Inflation Slows Far More Than Expected

WEDNESDAY, DEC 20, 2023 – 08:32 AM

UK inflation slowed far more than economists forecast in November, prompting traders to increase bets that the Bank of England’s ‘higher for longer’ narrative will be discarded, just like The Fed’s.

The November inflation print showed services, core, and headline inflation surprising consensus and BoE expectations meaningfully to the downside.

Services inflation declined to 6.3%yoy in November (from 6.6%yoy in October), below both consensus expectations of 6.6%yoy and the BoE’s projection of 6.9%yoy.
Core CPI inflation moderated to 5.1%yoy in November (from 5.7%yoy in October), five-tenths below consensus expectations.
Headline CPI inflation to 3.9%yoy in November (from 4.6%yoy in October), also below consensus expectations of 4.3%yoy and the BoE’s projection of 4.6%yoy.

The results represented the third downward surprise in the past four months and the biggest since inflation concerns took hold in 2021.

The November data – the first time food inflation has been in single digits since June 2022 – will bolster Prime Minister Rishi Sunak, who has vowed to bring prices under control ahead of the election expected next year.

However, as Sandra Horsfield of Investec notes, it was not clear that the UK public would celebrate the fall in inflation as much as markets.

“Lower inflation only means a slower (and still above target) rate of price rises,” she said, arguing that the electoral benefit of meeting Sunak’s promise “may be limited”.

Chancellor Jeremy Hunt welcomed Wednesday’s data, saying it showed that “we are starting to remove inflationary pressures from the economy”.

“Many families are still struggling with high prices so we will continue to prioritise measures that help with cost of living pressures,” he added.

The surprisingly sharp fall sent BoE rate-cut odds soaring, with March odds jumping and May now pricing in a full cut…

“This startling fall in inflation will further reassure people and businesses that there is light at the end of the tunnel in the struggle against eye-watering price rises,” said Suren Thiru, economics director at accountancy trade body the ICAEW.

“These inflation numbers suggest that the Bank of England is too pessimistic in its rhetoric over when interest rates could start falling.”

Source: Bloomberg

“The surprisingly low reading in today’s UK CPI figures is questioning last week’s impression after the MPC meeting that the UK might be one of the slow movers when it comes to rate cuts in 2024 and beyond,” said Ulrich Leuchtmann, head of FX research at Commerzbank AG in Frankfurt.

Which also helped send cable lower…

Source: Bloomberg

Taken together with the sharp slowing in sequential wage growth observed last week, recent data on key indicators of inflation persistence have surprised the BoE’s projections meaningfully to the downside, and Goldman Sachs pulls forward their first BoE cut to May (vs June previously).

They continue to expect the MPC to cut at a 25bp per meeting pace until the policy rate reaches 3.0% in May 2025.

On a probability-weighted basis, their Bank Rate forecast remains significantly below market pricing in 2024H2 and into 2025.

END

ROBERT H TO US:

GERMANY/LITHUANIA

We are watching a slow walk into a real war with Russia. Nothing was learnt from history.
How many millions will need to die to learn that there is no virtue in war.
As for the phony glory enthusiasts who want to beat up those pesky Russians, get a handle on your courage and go and fight in Ukraine and find out the meaning of war first hand. And if you do not piss your pants and lose a limp you may live to see the futility of the carnage suffered by 100’s of thousands dead Ukrainians for Neocon and globalist aspirations.
One might even want to read and study how in a period of less than 15 months Russia has turned itself into a modern state of the art war economy and is prospering while turning the other cheek on all things West. Today across the battle front Russians can daily pound Ukrainians with abandonment having ample weapons. In China, behind the curtain production is shifting from western export goods production to military goods spilling on to North Korea who is now producing for China.
Meanwhile the west is focused on nothing that will support a war effort meaningfully. Thus, if the carnage of Ukrainians is not enough then Europe will hollow itself out in vain. Because Russia will not hesitate to destroy all those who attack it. Russia will never succumb willingly to any break up or take over of its people and country by these delusional Globalists. And yes, do believe their sons and daughters will not be on duty.

https://www.newsweek.com/germany-will-deploy-troops-first-time-since-world-war-ii-1853409

5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

Hamas leader visits Egypt amid intensive talks on new ceasefire

The source described the negotiations as intensive and said a breakthrough could be possible within days.

By REUTERSDECEMBER 20, 2023 10:17Updated: DECEMBER 20, 2023 12:51

Hamas' top leader, Ismail Haniyeh, gestures as he speaks during his visit at Ain el Hilweh Palestinian refugee camp in Sidon, Lebanon September 6, 2020. (photo credit: REUTERS/AZIZ TAHER) — Hamas’ top leader, Ismail Haniyeh, gestures as he speaks during his visit at Ain el Hilweh Palestinian refugee camp in Sidon, Lebanon September 6, 2020.(photo credit: REUTERS/AZIZ TAHER)

The leader of Hamas made his first visit to Egypt for more than a month on Wednesday, a rare personal intervention in diplomacy amid what a source described as intensive talks on a new ceasefire to let aid reach Gaza and get hostages freed.

Hamas leader Ismail Haniyeh, who normally resides in Qatar, typically intervenes in diplomacy publicly only when progress seems likely. He last traveled to Egypt in early November before the announcement of the only agreement on a ceasefire in the war so far, a week-long pause during which more than 100 hostages were released.

A source briefed on negotiations said envoys were discussing which of the hostages still held by terrorists in Gaza could be freed under a new truce agreement and what prisoners Israel might release in return.

Israel was insisting that all remaining women and infirm men among hostages be released, the source said, declining to be identified. Palestinians convicted of serious offenses could be on the list of prisoners to be freed.

The source described the negotiations as intensive and said a breakthrough could be possible within days.

PHOTO: IRAN’S FOREIGN Minister Hossein Amir-Abdollahian (left) meets with Hamas leader Ismail Haniyeh in Doha, Qatar, last month. (credit: Iran’s Foreign Ministry/West Asia News Agency/Reuters)

A Palestinian official said Haniyeh was keen to listen to Egyptian officials for a possible new approach and noted that the official position of Hamas was to reject any new temporary ceasefire and demand a permanent halt to fighting.

“Hamas’s stance remains they don’t have a desire for humanitarian pauses. Hamas wants a complete end to the Israeli war on Gaza,” the Palestinian official said.Advertisement

“Haniyeh and Hamas always appreciate the Egyptian effort. He is in Cairo today to listen to whether Israel has made new proposals or whether Cairo has some too. It is early to speak of expectations.”

A senior Israeli official repeated the government position that the war could end only with the release of all hostages and the destruction of Hamas: “As the prime minister has said, the war will end with total victory.”

The negotiations come as Israel has faced increasing pressure from its international allies to curb a campaign in Gaza that has laid waste to much of the coastal enclave in retaliation for a Hamas killing spree on Oct. 7.

Washington, Israel’s closest ally, has publicly called over the past week for it to scale down its all-out war into a more targeted campaign against Hamas leaders and end what US President Joe Biden called “indiscriminate bombing.”

UN vote delayed

At the UN Security Council, where Washington has twice used its veto to shield Israel from international demands for a ceasefire, negotiators put off a vote on the latest resolution for another day in hope of reaching an agreed text.

When asked if they were getting close to an agreement, US Ambassador to the UN Linda Thomas-Greenfield told reporters on Tuesday: “We’re trying, we really are.”

Since the last truce collapsed at the start of this month, the war has entered a more intensive phase, with ground combat previously confined to the northern half of the Gaza Strip now spread across the length of the coastal enclave.

Israel has sworn to defeat Hamas, which rules Gaza, since its fighters killed 1,200 people and captured 240 hostages in the Oct. 7 attacks. Gaza health officials say nearly 20,000 people have since been confirmed killed in Israeli strikes, with thousands more believed lost and buried under rubble.

Israel’s government has faced domestic political pressure to reach a further agreement to free hostages, especially after acknowledging last week that troops mistakenly killed three of those taken. Israel believes 129 hostages remain in Gaza, of whom 21 are feared to have died in captivity.

In the north, where Israeli forces claimed to have achieved most of their military objectives last month, fighting has been more intense than ever. Huge orange balls of flame and towers of black smoke soared into the sky over the northern Gaza Strip as seen from across the fence in Israel, as Israeli warplanes pounded the area at dawn.

The Palestinian Red Crescent said Israeli forces had besieged its ambulance depot in Jabalia, a northern settlement that has been the site of some of the most intensive fighting. There are 127 people in the facility, including workers, displaced people and wounded.

In the south, where most of Gaza’s residents are now sheltering after fleeing other areas, there has been intense fighting around the center of the main southern city Khan Younis, which Israeli forces have partly stormed.

“All the night bombing didn’t stop. Their focus now is Khan Younis. People here have to deal with two wars all the time, bombing and hunger,” said Samir Ali, 45, a father of five from Gaza City in the north now sheltering in Khan Younis.

Israel says it is doing what it can to protect civilians, including warning them in advance of strikes, and blames Hamas for harm to them for operating in their midst, which Hamas denies.

International aid organizations say the enclave’s 2.3 million residents have been driven to the brink of catastrophe by destruction that has forced 90% of them from their homes and a blockade restricting access to food and medical supplies.

end

Fatal mistake: IDF soldiers never received intel that hostages were likely in Shejaia

Had the information been passed on, soldiers would likely have had a clearer picture of the situation.

By TAL LEV RAM/MAARIV ONLINE, JERUSALEM POST STAFFDECEMBER 20, 2023 10:18Updated: DECEMBER 20, 2023 10:23

(L-R) Gaza hostages Alon Shamriz, Samer Talalka, and Yotam Haim (photo credit: Hostages and Missing Families Forum) — (L-R) Gaza hostages Alon Shamriz, Samer Talalka, and Yotam Haim(photo credit: Hostages and Missing Families Forum)

By the time IDF soldiers mistakenly killed three Israeli hostages in Gaza, a commander in the effort to locate hostages had informed the Southern Command and other relevant bodies that the three men appeared to be together and in the Shejaia area, in which the incident took place.

The assessment was that they were still in Hamas captivity, but the notice was intended to make it known to IDF forces that they were operating in an area where there may be hostages.

The information, however, did not reach the forces in the field.

Documentation of the activities of the Golani patrol forces in the Shejaia neighborhood. (credit: IDF SPOKESPERSON UNIT, screenshot)

Had they known, it would likely have gone differently

Security officials who spoke with Maariv estimated that had commanders known there were three hostages possibly in the area, they would not have overlooked banners that the three hostages had hung from the house and would have notified the senior command.

It appears that the information reached the intelligence effort only two days before the tragic event. It is likely that had the information been passed on, soldiers would have had a clearer picture of the situation.

IDF forces fatally shot the three men– Yotam Haim, Alon Shamriz, and Samer Talalka– despite their carrying white flags, a violation of the IDF’s rules of engagement.

END

IDF uncovers secret underground Hamas tunnels in Gaza’s Palestine Square

Israeli military uncovers how Hamas leaders Haniyeh, Sinwar, and Deif controlled Gaza from underground • IDF takes over Commander’s Square

By TOVAH LAZAROFFDECEMBER 20, 2023 20:04Updated: DECEMBER 20, 2023 20:16

IDF uncovers secret underground Hamas tunnels in Palestine Square (photo credit: TOVAH LAZAROFF) — IDF uncovers secret underground Hamas tunnels in Palestine Square(photo credit: TOVAH LAZAROFF)

The IDF has seized control of a secret underground web of tunnels which both served as a bunker for the top Hamas leadership and as a transportation route to above-ground sites in and around Palestine Square in the Shuja’iyya neighborhood and in Gaza City itself.

“This is a city that exists on two levels, one above ground and one underneath,” Commander of the 401st Brigade, Major-General Beni Aharon told reporters, and the battle for it also takes place in both arenas.

Hamas leaders Ismail Haniyeh, Yahya Sinwar, Muhammad Deif used this network to manage the organization’s operation and movement through the heart of Gaza City, said the army, which has nicknamed the area “Commander’s Square.”

Using the tunnels for movement

They could also travel around through the tunnels, hide for a prolonged period if needed, or escape, the army explained.

“Hamas took enough generators and solar panels from civilians so that they could survive down there for months and even weeks,” Aharon said.

The Square was located between a high-class residential area, that includes a college, a hotel, a school for the deaf, and a fancy bridal shop.

IDF uncovers secret underground Hamas tunnels in Palestine Square (credit: TOVAH LAZAROFF)

Deputy Commander of the 401st Brigade, Lt. Col. Ido, whose full name can’t be used said, “From outside everything looks normal, everything looks like a normal city.”Advertisement

A short distance away from the two schools, but in the square itself, the IDF uncovered two tunnel shafts and a tunnel-making workshop, which they showed to reporters on Tuesday afternoon, but they did not take them into the tunnels themselves.

The IDF also released to the media videos detailing their find, with shots of the underground tunnels, including one that led from a home of Sinwar’s in the square, in which a spiral staircase could bring him directly down into a concrete corridor, complete with electricity.

https://player.jpost.com/public/player.html?player=jpost&media=3641283&url=www.jpost.comIDF uncovers secret underground Hamas tunnels in Palestine Square (IDF SPOKESPERSON’S UNIT)

The tunnels were discovered under property owned by Sinwar and Haniyeh, and allowed for Hamas leaders to travel from home to the office and to other places within the city, the army explained.

What was found in the tunnels?

One office, now filled with debris, that the army showed reporters, is believed to have been used by Deif, with officers speculating that a wheelchair found in that room, could have been his.

The tunnels had electricity, water, phones, food, solar panels, security cameras, as well as rooms, including one that was 150 meters big. Arms were also found including rockets, RPGs and nighttime equipment.

An elevator was also found leading into a tunnel, used almost exclusively by Hamas leadership, the army explained.Ido said that right off the square, which had been booby-trapped when they arrived. They also found a workshop for building tunnels.

“There are posters of instructions of how to build, when to do, what to do. You can see all around here cement and concrete and equipment for building the tunnel inside,” Ido said as he pointed to concrete slabs. “All these are the walls for the tunnel which are taken down with a high lift into the tunnels,” Ido said.

In the Square’s center had been a monument to Hamas’ successful attack against an IDF armored personnel carrier during the 2014 Gaza war, also known as Operation Protective Edge, in which seven soldiers were killed. This includes Oron Shaul, whose body has since been held by Hamas along with that of Hadar Goldin, also killed in that war.

It is also the place where some of the hostages were initially released, shots that were shown on Israeli television, in which the Square was filled with Palestinians.

Earlier this week, the IDF destroyed the monument.

The army seized the tunnels and the square thanks to the work of the 162nd Division’s 401st Brigade, which worked together with the Shaldag Unit and the 13th Squadron, which had also helped fight to secure the square from Hamas terrorists these last week, gaining almost complete control of it in the last few days.

The IDF estimates that it killed some 600 Hamas terrorists during that battle.

The square after the IDF attack

On Tuesday, when reporters arrived, the square was one large empty dustbowl of brown dirt, with a mound in the center.

On top of that mound was a flagpole, from which fluttered a large Israeli flag. Next to it was a large Hanukkah menorah, which was left standing, even though the holiday was last week.

“We arrived here before the first night of Hanukkah and in a tearful ceremony, we remembered those who had fallen and everything that we endured to get here and we lit the first candle,” Aharon said.

He added that he also loved the flag, which “has become a symbol of hope” and as “type of magic.”

Some of the buildings, such as the college and the school for the deaf were standing, but damaged, and others were reduced to rubble so that a ring of destruction also surrounded the square.

Reporters entered Gaza through a coastal road, first in a jeep, open in the back so that one could see how the road leading to Gaza City, and indeed every section of the city itself that reporters saw, had only destroyed, partially destroyed or damaged buildings.

At what soldiers called “the blue beach” which had been a resort, pagodas were partially destroyed and debris littered the sand.

From there they transferred to an armored vehicle with three soldiers at the helm, two of whom Elad and Deny explained how they had been in Gaza almost from the start, with little radio or telephone contact, including with their families.

One of them Elad, had a child’s drawing pasted to the top of the vehicle, with solider and blue stars next to it and the words “take care of yourselves” written out.

Elad said he received the picture in a care package and didn’t know who the child was, but he had placed it on top of the vehicle to remind him “why we are here and what we are fighting for.”

At the Square itself, much like the road leading up to it, there were no Palestinians in sight, and it seemed as if the city had become on strange ghost town, inhabited only by soldiers and journalists.

In one of the buildings journalists were taken into, soldiers had taken over apartments, which were still partially or livable. In one living room, they had placed mattresses on the floor. In another, they had set up a command center around a large fancy dining table, pasting a wall size Google type map on the wall, which they had found in a nearby office.

It was clear from the furniture and the tiles and hallway decor that the building had been modern, with expensive furniture, akin to what one could find in Tel Aviv or any other Middle Eastern city.

Aharon said that the terrain for the soldiers was no longer that of a civilian city, but one of combat.

During the time the group was there, three firefights broke out within a few block’s radius, during which the IDF exploded the buildings, such that dust or flames and clouds of black smoke rose from them. Gun shoots and explosions could be heard in the distance.

END

WEST BANK/ISRAEL

END

WEST BANK/ISRAEL

END

LEBANON/NORTHERN ISRAEL

IDF conducts airstrikes on Hezbollah targets in Lebanon

By JERUSALEM POST STAFF

Israeli warplanes conducted strikes on several Hezbollah targets in Lebanese territory, according to a Wednesday morning statement from the IDF.

IDF attacks Hezbollah installations in Lebanon.

The targets included terrorist infrastructure and military sites from which Hezbollah operates.

end

IRAN/HOUTHIS/ISRAEL/USA//

Houthi threats prompt shipping companies to rethink Suez Canal use

If all traffic in the Suez Canal stopped, Egypt would lose about $13 million daily, disrupting its main foreign currency income.

By DEBBIE MOHNBLATT/THE MEDIA LINEDECEMBER 20, 2023 06:28Updated: DECEMBER 20, 2023 06:31

Israel Navy missile ships head to the Red Sea after several aerial intrusions by Houthi drones, November 1, 2023 (photo credit: IDF SPOKESPERSON'S UNIT) — Israel Navy missile ships head to the Red Sea after several aerial intrusions by Houthi drones, November 1, 2023(photo credit: IDF SPOKESPERSON’S UNIT)

In light of the constant Houthi attacks on commercial vessels sailing near Yemen’s coasts, several shipping companies have announced in recent days that they will halt their ship flow through the Suez Canal until sailing in the Red Sea is safe again.

For more stories from The Media Line go to themedialine.org

If this domino-like trend continues, Egypt could face massive foreign currency income losses and devaluation of its currency. Furthermore, if the situation continues for long enough, alternative trade routes could become more frequented.

Since the beginning of the Israel-Hamas war on October 7, the Houthi militia in Yemen has been actively participating by constantly launching rocket and drone attacks against Israel. As part of its offensive, the Houthis have also attacked several commercial vessels sailing close to its coasts in the Red Sea, even those ships that have no link to Israel.

The impact of the Houthi attacks

As a result of the Houthi attacks, several large shipping companies recently announced that they would avoid using the Suez Canal.

Oil giant BP announced on Monday that it would stop its oil transports via the Suez Canal. MSC, the world’s biggest container shipping line, and French shipping group CMA CGM both announced on Saturday. Additionally, Denmark’s A.P. Moller-Maersk stated the same on Friday, and Hapag Lloyd, a German container line, said it might do the same.

Jack Kennedy, associate director and head of the MENA Country Risk Desk at S&P Global Market Intelligence, told The Media Line that the total revenues of the Suez Canal in 2023 were $9.3 billion, and if all shipping lines would decide to halt their usage of the Canal, the Egyptian government would lose approximately $13 million per day.

“The main issue here is that the transit fees are a significant source of dollar revenue for the Egyptian government,” he said, stressing that this is one of the most pressing upcoming issues for the North African state to address in 2024: how Cairo will service its extensive foreign debt.Advertisement

Kennedy adds that the long-term consequences of sustained insecurity for commercial vessels to reach the Suez Canal could foment the creation and permanent use of alternative transit routes.

“The Egyptian government is likely very concerned by reported plans to establish a logistics and trade corridor from India, via the UAE, Saudi, and Jordan, to the Mediterranean via Israel,” Kennedy said. Noting that this plan is not new, he emphasized that such a trade route, if established, would inevitably reduce transits through the Suez Canal.

“A sustained period of disruption and security risk in the Red Sea approach to the Suez Canal will probably make such projects more attractive to potential member states and investors, if no less vulnerable to disruption from missile or UAV attack,” he continued.

Kennedy noted that the Biden Administration had been putting political capital on this plan before the October 7 attacks and that statements from Hamas suggest that disruption to this plan, a facet of wider normalization with Israel, was a geopolitical motivator.

Egypt’s Suez Canal Authority’s chairman, Osama Rabie, said on Sunday during a statement that his country is closely monitoring the flow of vessels in the Red Sea. The statement came after four shipping companies announced that they would avoid using the Suez Canal until the Red Sea is safe again.

Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. (credit: MOHAMED ABD EL GHANY/REUTERS)

Rabie mentioned that since Nov. 19, only 55 vessels have rerouted via the Cape of Good Hope route and compared it with 2,128 ships that passed through the Suez Canal in that same period. However, since this statement was issued, more shipping companies have joined the halt of ship flow through the Suez Canal for the time being.

A global issue

Dr. Noha Bakr, an advisory board member of the Egyptian Center of Strategic Studies, warned that this is not only Egypt’s problem. She said that if the vessel traffic through the Red Sea and the Suez Canal halts partially or totally, it will have a great effect on global trade.

Bakr told The Media Line that such a halt can put further pressure on several world economies, affecting global supply chains and fuel security since the Suez Canal is a vital corridor for global trade. That is why she believes that the Houthi threat to the security of the Red Sea should be addressed by the international community.

The route from the Persian Gulf to Northern Europe is about 13,000 miles if a ship sails around Africa, which takes some 24 days. If the ship uses the Suez Canal, the trip is reduced to some 7,400 miles, which takes about 14 days. Such a difference in shipping time represents a huge delay in the supply of the transported goods, which could impact their availability and therefore their price.

Kennedy said that according to industry estimates, transits of the Suez Canal account for around 12% of global trade and 30% of global container traffic.

“Our data shows shipments from Asia and the Gulf to Europe or MENA by sea, which predominantly travel via the Suez Canal, represent 14.8% of global trade and 69% of all imports to Europe or MENA from Asia and the Gulf states,” he said.

He believes that it is likely that the Egyptian government will be coordinating with the United States to establish a broader maritime coalition to solve this insecurity problem in the Red Sea.

As for the Houthi motivation to attack vessels that are not linked to Israel, Kennedy believes that there is a geopolitical agenda behind it. “The Houthi—and by extension their main military backer Iran—are probably using their strike capability in the Red Sea to further exercise greater geopolitical influence in the region and on Israel’s war in Gaza,” he said.

end

UKRAINE/RUSSIA

Lt Col Richard Hecht

end

GLOBAL VACCINE/COVID ISSUES

DR PAUL ALEXANDER:

If Jonathan Turley, left legal scholar, IMO brilliant even when I did not agree, says what Colorada Court did to Trump & ballot was a “slippery slope,” stating the court is “wrong on the law.”, then

we are in trouble in America now for the left, DC deepstate cabal, RINOs etc. not just trying to imprison Trump, assassinate him literally but now using the courts WRONGFULLY to stop him from victory

DR. PAUL ALEXANDERDEC 20

READ IN APP

‘Turley stated the Colorado Supreme Court not only “handed partisans on both sides” a tool to “shortcut elections,” but that it was a “very dangerous” move to make. (RELATED: Trump Disqualified From Colorado Ballot)

“Well, this court just handed partisans on both sides the ultimate tool to try to shortcut elections, and it’s very, very dangerous. I mean, this country is a powder keg, and this court is just throwing matches at it. And I think that it’s a real mistake. But I think that they’re wrong on the law,” Turley stated.’

END

Dr. Mike Yeadon is a mentor of mine, a hero, a real GIANT often silenced among the COVID Freedom Fighter movement, remarkable as that is, aligns with me that this JN.1 & HV.1 sub-variants are ‘BS’

“variant” of nonexistent virus, just as planned.’; Yeadon has been issuing clarion call after call, his genius makes him scary to money whores for donor money; Dr. Yeadon: “there has been no pandemic”

DR. PAUL ALEXANDERDEC 20

READ IN APP

Lioness of Judah Ministry

Writes Exposing The Darkness

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

Subscribed

‘Another BS “variant” of nonexistent virus, just as planned.’

Important:

Dr. Yeadon: “…there has been no pandemic, no public health emergency and therefore no nasty, scary virus…pandemics are impossible because these acute respiratory illnesses are not contagious, and we’ve been lied to about that for decades…”

Dr. Mike Yeadon: WHY ARE THEY ALL SO DESPERATE TO PREVENT ME BEING HEARD?

” Three occasions upon which parliamentarians in Germany, Croatia and U.K. might have heard me, it didn’t happen. I think it’s not coincidence.”

Exposing The Darkness

Dr. Mike Yeadon: WHY ARE THEY ALL SO DESPERATE TO PREVENT ME BEING HEARD?

Exposing The Darkness is a reader-supported publication. To support my work, please consider becoming a paid subscriber. One-time or recurring donations can be made through Ko-Fi…

2 days ago · 125 likes · 51 comments · Lioness of Judah Ministry

‘I think it may be because I’m covering a wider take on the crime than most, and that my scientific background allows me to reach certain conclusions that might be persuasive to others.

In particular, I often cover these things on one talk or communication. While doubtless there are other dimensions of all this that I know nothing about, this “hangs together” too well to be completely wrong.

1. there has been no pandemic, no public health emergency and therefore no nasty, scary virus;

2. that pandemics are impossible because these acute respiratory illnesses are not contagious, and we’ve been lied to about that for decades;

3. that it is evident that the deception, based on worthless PCR based diagnostics, was created to justify lockdowns and more and finally

4. to persuade people to roll up their sleeves for jabs which my skill set allows me to determine, with great confidence, were designed intentionally to cause injury, death and to impair fertility in survivors.

5. bringing it all together, the backdrop to all this is the power of privately-owned central banks (& naturally the BIS) which has, as twin objectives:

(i) the dismantling / “de-civilisation” of the West, bringing about a totalitarian digital control regime of mandatory digital ID & cashless CBDC, and

ii) through repeated “vaccination” requirement to maintain validity of one’s digital ID, driven off whatever fresh hell is advanced by WHO, a great reset of the population along the lines put forward by a century and more by the eugenicist cliques.

I will continue to speak out.

There’s no intermediate position to take which I find worth talking about.

Best wishes,

Mike’

END

SLAY NEWS

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EVOL NEWS

NEWS ADDICT

LATEST REPORTS FOR NEWS JUNKIES

Arson Attacks Destroy Multiple Christian Churches Across Canada Another Canadian Christian church has just been destroyed by a massive fire as a series of arson attacks continues to rip through the country.READ THE FULL REPORT

UN Pushes Global Food Rationing to Fight ‘Climate Crisis’The United Nations (UN) has instructed sovereign nations around the world to begin slashing food production and rationing the supply to fight the “climate crisis.”READ THE FULL REPORT

Democrats Pressure Justice Clarence Thomas to Recuse Himself From Trump’s Supreme Court Case Several Democrats in the House are urging Supreme Court Justice Clarence Thomas to recuse himself from the case involving whether President Donald Trump is immune from prosecution.READ THE FULL REPORT

Elon Musk’s X/Twitter Hit with Probe for ‘Illegal Content’ and ‘Disinformation’European Commissioner Thierry Breton has launched an investigation into Elon Musk’s social media platform X (Twitter), citing concerns about its handling of “illicit content and disinformation.”READ THE FULL REPORT

EMERGENCY ALERT: Unprecedented Chaos Unfolds as Key Global Electrical Products Supplier Declares a 20-Week Delay for Vital Components The second-largest manufacturer of electrical components globally has announced a 20-week delay for “engineered-to-order” (ETO) components.READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

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

Market Continues To Shrug Off Efforts By Fed Policymakers To Push Back On Rate Cut Expectations

WEDNESDAY, DEC 20, 2023 – 12:10 PM

By Jane Foley, Senior FX strategist at Rabobank

Donald Trump may be the front-runner for the Republican candidacy ahead of next year’s US presidential election, but his name cannot appear on the 2024 primary ballot in Colorado due to a ruling by the state’s highest court yesterday. The decision is based on a clause in the 14th Amendment which disqualifies those from public office who swore to defend the US constitution and then “engaged in insurrection or rebellion” against the US – this a reference to Trump’s part in the Capitol attack on January 6, 2020. Trump now has the opportunity to appeal. The high court is also being asked to decide whether Trump could use presidential immunity from prosecution in regard to his actions in the attack.

Meanwhile, in a rally in Iowa yesterday, Trump stepped up his verbal outbursts against immigrants accusing them of “destroying the blood of our country”. He used the rally to point out that he had not read Mein Kampt, and that Hitler has used language “in a much different way”. Trump has promised to push back against illegal immigration if elected back to the White House next year and also to restrict legal immigration. The anti-immigration stance chimes with sentiment in various countries in Europe. Far-right political parties are now reported to be in the top three most popular in almost half the EU.

Yesterday’s remarks by ECB member Villeroy were probably intended to push back on early rate cut expectations. However, since he conceded that rates should probably come lower next year the market took his remarks as having a dovish edge even though he also talked about a plateau for rates and the need for patience. Yields across the German curve shifted lower yesterday even though Villeroy’s comments coincided with those from ECB member Kazaks who indicated that rates needed to stay at current levels for some time to ensure that wage growth slows and that new risks for inflation don’t arise. The release of final November Eurozone CPI inflation data confirmed that the headline rate dropped back to 2.4% y/y from 2.9% the previous month. Although ECB officials clearly remain guarded about inflationary risks, on the back of Germany’s weak IFO survey results earlier this week and Friday’s dismal Eurozone December PMI data, the market is reluctant to embrace the central bank’s hawkishness. On a one month view the EUR is the second weakest performing G10 currency after the USD.

The market is also continuing to shrug off efforts by Fed policymakers to push back on market rate cut expectations. Yesterday, Atlanta Fed president Bostic said that there was no urgency to lower rates. Despite the warnings from Fed officials on policy, US stocks continued to push higher yesterday on rate cut hopes.

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=1737441874317656242&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fmarket-continues-shrug-efforts-fed-policymakers-push-back-rate-cut-expectations&sessionId=7bfa60958119f27b60dfe6d49d61c9ed01c4d7f7&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

[ZH: Rate-cut expectations briefly declined after the initial Powell pivot plunge, but are now heading back to cycle lows, pricing in over 6 rate-cuts for next year]

Overnight, Asian stocks also pushed higher, except for China’s CSI 300. As expected, no change in benchmark lending rates was forthcoming from the PBoC overnight, though speculation is rife that further easing will be announced in the New Year.

Yesterday morning it was the JPY that was falling hardest, though it has since pulled back from its lows. The sharpness of yesterday’s move illustrates that the market was expecting more hawkish rhetoric from the BoJ’s December policy meeting. Like other central banks BoJ Governor Ueda hinted that policymakers want to see more data before being convinced that a policy move is warranted. This left the market essentially without any firm forward guidance, though surveys indicate that April is currently the favoured months for a BoJ rate hike amongst BoJ watchers. This would allow the central bank to digest the outcome of the 2024 spring wage talks.

By contrast, in Canada data is suggesting that inflation is not moving down fast enough. The November headline CPI inflation rate remained at 3.1% y/y, counter to market expectations for a fall to 2.9%. A significant contributing factor was housing, with rents rising 7.4% y/y last month. This follows separate data from Statistics Canada indicating that the population grew 1.1% in Q3, the highest rate in any quarter since 1957. Immigration may help with labor market shortages, but it also creates unintended consequences. Housing crises are now fairly commonplace in many cities across the developed world. These can be linked with voter dissatisfaction and in some cases the rise in the support for the far-right.

US data brought some comfort on this front. Housing starts grew by a stunning 14.8% m/m and looks set to expand by 25% in Q4, though this followed a 20% contraction in Q3. The bounce back suggests that confidence is returning to the sector, probably encouraged by the decline in mortgage rates.

Oil is holding is recent gains on concerns over the safety of shipping in the Red Sea. So far, the impact on oil supply appears to have been limited, though the market will continue to monitor the situation.

German and French finance ministers were due to meet in Paris yesterday in an attempt to reach a agreement on the reform of the EU fiscal rules. The two countries have differing views on how investment levels can be sustained if budget deficits move above target. As yet, there is no news on a deal, meaning that the market will continue to keep watch today.

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

Good work, Mr Biden! Now costs on goods rise again because of Red Sea chaos

(zerohedge)

100 Container Ships Diverted, Insurance Surges As Red Sea Chaos Worsens

WEDNESDAY, DEC 20, 2023 – 07:45 AM

Global transport and logistics company Kuehne + Nagel International AG reports more than 100 container ships have been rerouted from the Red Sea around Africa to avoid Iran-backed Houthi militants in Yemen who attack commercial vessels with missiles and drones.

Bloomberg released two headlines early Wednesday detailing Kuehne + Nagel’s update on the Red Sea. The logistics firm said 103 container ships have detoured around the Cape of Good Hope, lengthening travel time by 1 to 2 weeks. It expects the number of detours to rise in the coming days.

For commercial vessels still transiting the vital waterway that connects to the Suez Canal, Bloomberg noted in a separate report that the cost of insuring jumped this week from about .1% to .2% of the hull value to .5%. A $100 million vessel must pay about $500,000 per voyage.

Increased insurance costs plus more extended travel around the Cape of Good Hope only suggest snarled supply chains and increased prices of goods.

“Both options of increased premiums and rerouting around Africa will see a knock-on effect on the price of goods,” said Toby Vallance, Executive Committee Member of the London Forum of Insurance Lawyers.

Euronav NV Chief Executive Officer Alexander Saverys told Bloomberg TV that the disruption in the Red Sea “will slow down the trade because we will have to wait for a convoy to pass through.” The petroleum tanker giant halted shipments through the Red Sea early this week and won’t transit the region unless there are military escorts. Several other major shipping firms stopped traveling through the area this week (read: here).

Called “Operation Prosperity Guardian,” the Pentagon hasn’t released exact details on how it plans to escort commercial vessels through the conflict region. Vincent Clerc, the chief executive of container shipping giant A.P. Moller-Maersk A/S, said it could take several weeks for the task force to become operational.

Meanwhile, National Security Council spokesperson John Kirby said the Biden administration was considering re-designating Iran-backed Houthis as a “terrorist organization.” The administration is also considering possible military strikes but will try diplomacy first to thwart a regional conflict that would send energy prices through the roof into an election year.

The need to quickly secure the vital waterway for global trade is underscored by logistics intelligence firm Project 44 data showing that 20% of containers passing through Suez are from Asia to European and Mediterranean nations.

“The best the world can hope for may be a moderate risk scenario, in which shipping is diverted for at least several months until the security situation in the Red Sea stabilizes,” Bloomberg Economics analysts wrote in a report.

END

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

ARGENTINA

“He’s Starting A Revolution”: Does Milei’s Win Signal A Global Anti-Communist Turning Point?

TUESDAY, DEC 19, 2023 – 11:25 PM

Authored by Marcos Schotgues via The Epoch Times (emphasis ours),

Javier Milei’s landmark election as president of Argentina might prove a turning point in the dominance of leftist governments in Latin America. Some are hoping it goes beyond.

“He’s starting a revolution that begins here, is going to go through America, all the way to the north and then on to Europe,” Lilia Lemoine, a newly elected congresswoman in Argentina and long-time Milei ally, told The Epoch Times at President Milei’s inauguration on Dec. 10.

President Milei, a libertarian and self-described “anarcho-capitalist,” has bucked the left-wing grip that, by the beginning of 2023, has held all nations in the Americas except Uruguay, Paraguay, El Salvador, and Ecuador.

“Just like the fall of the Berlin Wall marks the end of a tragic era for this world, this election marks the turning point of our history,” President Milei said in his inaugural address.

Brazilian lawmaker Cristiano Caporezzo called Milei’s election “absolutely historic.”

“It marks a very strategic moment for Latin America, a right-wing ‘reconquering’ of the continent,” Mr. Caporezzo told The Epoch Times.

“Milei’s arrival in Argentina will give the Chilean elections some strength. More countries in Latin-America will start walking towards conservatism.”

Colombian Senator María Fernanda Cabal also attended President Milei’s inauguration in Buenos Aires on Dec. 10.

“He today gave us hope, in Latin America, also in the U.S. and worldwide,” she told The Epoch Times.

“What we see is that Javier Milei has opened the door and all these governments that have been ruling, societies that have been suffering with all these activists that go against the nature of human beings … currently, everything is going to turn right,” Ms. Cabal said.

“We hope that Trump wins. We hope that Jose Antonio Kast in Chile wins, and we hope that we can save Colombia too.”

Ernesto Araújo, former minister of foreign relations of Brazil, now a strategic aid for international affairs at Spain-based think tank Fundación Disenso told The Epoch Times he sees a global shift towards conservatism.

“This can be a true ‘reconquest’ of freedom worldwide, which might be starting here in Argentina. I like to think big, and I think this might indeed be the case,” Mr. Araújo said.

“If [the Milei administration’s proposals] work out, people might realize that the ideas of freedom work. That they work in a big country.“

In his first week in office, President Milei slashed nine government ministries, took steps towards strengthening trade partnerships, and prepared to crack down on protests that may arise from upcoming drastic economic measures.

He has promised to reduce government spending, eliminate Argentina’s Central Bank, and potentially adopt the U.S. dollar as an official currency. During his campaign, he pledged to replace the public education system with a voucher-based alternative, and move the public health care model to an insurance-based system.

“This new social contract [people voted for] offers us a different country, a country in which the State does not direct our lives, but rather safeguards our rights, a country in which people are held accountable for their actions,” President Milei said during his inaugural speech.

Hermann Tertsch, a Spanish member of the European Parliament, celebrated President Milei’s victory at the latter’s inauguration in Buenos Aires on Dec. 10.

“I believe this victory—of the truth—in Argentina is a historical victory, and a victory of enormous repercussions,” said Mr. Tertsch told The Epoch Times.

“It’s so important, and it has implications for all of the Americas, and for all of the West, an extremely important turnaround.”

The recent win in The Netherlands by conservative Geert Wilders, leader of the Party for Freedom, has buoyed conservatives in the region. Mr. Wilders won the election, but must form a majority coalition with other political parties in order to become Prime Minister.

“We can, for the first time in the history of the European Parliament, make right wing politics,” Mr. Terstch said.

“We can stop the monstrosities of the 2030 Agenda, of the green pact, of all their permanent meddling into the livelihood [of people], the liquidation of subsistence that the current European Commission is pushing. This can change. We can change the Commission. And then we’ll see a difference in Europe.”

The 2030 Agenda is the United Nations plan to achieve 17 “sustainable development goals” by the year 2030. The goals include “gender equality,” “responsible consumption and production,” and climate action.

“The green pact” referred to by Mr. Tertsch is the “European Green Deal,” a framework in which European Union countries have committed to achieving “climate neutrality” by 2050.

“We have yielded so much in 50 years, 60 years, that we can yield no more. Now we can only reconquer. And we are in a full reconquest campaign,” Mr. Terstch said.

But conservative and libertarian politics are up against some determined and well-coordinated forces.

“[This] is not just about the economy, this is not just about Argentina’s runaway inflation, it’s not about the fact there’s no growth,” Mr. Araújo said.

“It is also about the matter of narco-trafficking, of organized crime. It is the problem of Latin-American organized crime being connected with worldwide organized crime. It is the problem of the China-Russia-Iran totalitarian bloc.”

Socialist administrations across Latin America, particularly the Venezuelan regime, have facilitated or engaged in international drug trafficking and coordinated with Iran, China, and Russia against United States interests and regional security for years.

In 2020 the U.S. Department of Justice charged Venezuelan dictator Nicolás Maduro and 14 other current and former officials in a “narco-terrorism” conspiracy to “flood” the United States with narcotics.

In February 2023, Irani military ships sanctioned for terrorism docked in Brazil and in June a defense deal between Iran and Bolivia bound the two nations closer together.

Latin American socialist regimes have enabled Iran-backed terrorist groups to operate broadly in South America for years.

The Chinese communist regime has been spreading its influence widely in Latin America for years with trade deals, an expanding military presence, and ties to radical leftists groups in the region.

The São Paulo Forum is the hub for leftist groups and political administrations.

Created in 1990 by Brazil’s President Lula da Silva and Cuban dictator Fidel Castro, it united narco-terrorist communist guerrilla groups such as Colombia’s FARC and political parties often in power, including Mexico’s MORENA and Brazil’s Workers Party.

The group’s stated goal is to move the region further left.

The São Paulo Forum inherited a framework of cooperation among left-wing parties that have been coalescing for more than a century with organizations such as the Third Communist International.

The Heritage Foundation’s Mike Gonzales has called the São Paulo Forum “the world’s largest and most impactful Marxist international organization.”

The group’s leaders often flaunt anti-American rhetoric and either are authoritarian or condone authoritarianism.

The Chinese Communist Party has cooperated increasingly with São Paulo Forum parties, some of which are now in power.

In March 2022, ahead of elections in Brazil and in Colombia, the Chinese Communist Party and the São Paulo Forum held a series of conversations. During a talk, CCP official Sun Yanfeng, affiliated to the China Institute of Contemporary International relations and to the China’s Ministry of State Security, said he rooted for leftist victories in both countries.

Read the rest here…

END

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

EURO VS USA DOLLAR: 1.0940 DOWN 0.0039

USA/ YEN 143.52 DOWN 0.391 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2639 DOWN .0091

USA/CAN DOLLAR: 1.3347 UP .0008 (CDN DOLLAR DOWN 8 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 30.28 PTS OR 1.03%

Hang Seng CLOSED UP 108.31 PTS OR 0.66%

AUSTRALIA CLOSED UP 0.65% // EUROPEAN BOURSE: ALL MOSTLY MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL MIXED

2/ CHINESE BOURSES / :Hang SENG UP 108.81 PTS OR 0.66%

/SHANGHAI CLOSED DOWN 30.28 PTS OR 1.03%

AUSTRALIA BOURSE CLOSED UP 0.65%

(Nikkei (Japan) CLOSED UP 460.41 PTS OR 1.40%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2035.00

silver:$23.99

USA dollar index early WEDNESDAY morning: 102,10 UP 30 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing WEDNESDAY NUMBERS 11: 30 AM

Portuguese 10 year bond yield: 2.688% DOWN 4 in basis point(s) yield

JAPANESE BOND YIELD: +0.554% DOWN 5 AND 4//100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.931DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.615 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 1.988 DOWN 3 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY

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

Euro/USA 1.0965 DOWN 0.0014 or 14 basis points

USA/Japan: 143.64 DOWN 0.256 OR YEN UP 26 basis points/

Great Britain/USA 1.2666 DOWN .0063 OR 63 BASIS POINTS //

Canadian dollar UP .0145 OR 14 BASIS pts to 1.3324

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY: closed ON SHORE CLOSED (DOWN) …7.1363

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.1445)

TURKISH LIRA: 29.13 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.554…VERY DANGEROUS

Your closing 10 yr US bond yield DOWN 5 in basis points from TUESDAY at 3.913% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic

USA 30 yr bond yield 4.035 DOWN 0 in basis points ON THE DAY/12.00 PM

USA 2 YR BOND YIELD: 4.403 DOWN 3 BASIS PTS.

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

London: CLOSED UP 82.72 POINTS or 1.108%

German Dax : CLOSED DOWN 6.16 PTS OR 0.04%

Paris CAC CLOSED UP 18.13 PTS OR 0.25%

Spain IBEX DOWN 6.00 PTS OR 0.06%

Italian MIB: CLOSED UP 8.49 PTS OR 0.03%

WTI Oil price 74.73 12: EST

Brent Oil: 79.81 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 90.91; ROUBLE DOWN 0 AND 57//100

GERMAN 10 YR BOND YIELD; +1.989 DOWN 3 BASIS PTS

UK 10 YR YIELD: 3.582 DOWN 7 BASIS PTS

CLOSING NUMBERS: 4 PM

Euro vs USA: 1.0947 DOWN 0.0032 OR 32 BASIS POINTS

British Pound: 1.2643 DOWN .0087 or 87 basis pts

BRITISH 10 YR GILT BOND YIELD: 3.543% DOWN 17 BASIS PTS//

JAPAN 10 YR YIELD: 0.556%

USA dollar vs Japanese Yen: 143.69 DOWN 0.227 //YEN UP 23 BASIS PTS//

USA dollar vs Canadian dollar: 1.3344 UP 0.0005 CDN dollar DOWN 5 basis pts)

West Texas intermediate oil: 73.94

Brent OIL: 79.41

USA 10 yr bond yield DOWN 9 BASIS pts to 3.865%

USA 30 yr bond yield DOWN 6 BASIS PTS to 3.996%

USA 2 YR BOND: DOWN 7 PTS AT 4.365 %

USA dollar index: 102.03 UP 23 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 29.13 (GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 90.96 DOWN 0 AND 63/100 roubles

GOLD 2033.30 3:30 PM

SILVER: 24.18

3:30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 475.50 % PTS OR 1.27%

NASDAQ DOWN 257.70 PTS OR 1.53%

VOLATILITY INDEX: 13.41 UP .88 PTS 7.02%

GLD: $188.10 DOWN 1.03 OR 0.54%

SLV/ $22.04 UP .01 OR 0.045%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM:

Stocks & Bond Yields Puke As Goldilocks Dies

WEDNESDAY, DEC 20, 2023 – 04:00 PM

Existing home sales beat (bouncing modestly off record lows), consumer confidence jumped (as inflation expectations declined and labor market conditions worsened), but earnings reports from FedEx and General Mills threw some cold water on the ‘resilient’ consumer, cyclical rebound narrative.

And it’s the commentary from Corporate America that has us wondering:

Did the Goldilocks narrative just die?

30Y yields broke below 4.00% – the first close below 4.00% since July
March rate-cut odds soared
Rate-cut expectations for next year surged
Stocks puked
Bond yields plunged

That smells a lot like a ‘recession’ trade to us as it’s not the Fed’s post-Powell jawboning to walk-back the market’s dovishness (because rates shifted dovishly).

Fed’s Harker was a little more dovish than the recent walkback-of-Powell’s comments by various Fed speakers, but still pushed off any imminent rate-cuts:

“It’s important that we start to move rates down,” Harker said Wednesday in a local radio interview.

“We don’t have to do it too fast, and we’re not going to do it right away.”

Rate-cut expectations for March surged to new cycle highs this morning…

Source: Bloomberg

And expectations for rate-cuts next year re-accelerated dovishly, shrugging off all the FedSpeak of the last week, trying to walk-back what Powell did…

Source: Bloomberg

The Dow ended its streak of losses at 9 days, as the S&P suffered its biggest decline since October…

Starting around 1430ET – margin-call time – the biggest sell-program since July smashed stocks lower…(and that was followed quickly by a large buy program)…

Source: Bloomberg

Did the L/S funds finally get tapped on the shoulder…

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=1735392361549541634&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fstocks-bond-yields-puke-rate-cut-expectations-surge&sessionId=3ea94129754b554332f868b777fb318b7604977f&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

Or was this why we puked?

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1736934408412610948&lang=en&origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fstocks-bond-yields-puke-rate-cut-expectations-surge&sessionId=3ea94129754b554332f868b777fb318b7604977f&siteScreenName=zerohedge&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px

‘Most Shorted’ stocks were clubbed like a baby seal, with the biggest daily drop since February…

Source: Bloomberg

MAG7 stocks puked…

Source: Bloomberg

As 0-DTE traders dumped calls aggressively in MAG7 stocks…

Source: SpotGamma

But there was a major 0-DTE S&P Put buyer that seemed that prompted the overall market to drop into negative gamma and sent the S&P spiralling below its Put Wall…

Source: SpotGamma

It turns out VVIX was right to be worried…

Source: Bloomberg

Treasuries were aggressively bid across the curve with the short-end outperforming today (30Y -6bps, 2Y -9bps). Since the FOMC, yields are down 33-38bps…

Source: Bloomberg

Despite the ugly 20Y auction, 30Y Yields tumbled back to test 4.00%…

Source: Bloomberg

The dollar rebounded, erasing most of yesterday’s losses…

Source: Bloomberg

Bitcoin rallied back above $44,000…

Source: Bloomberg

But Ethereum continues to underperform…

Source: Bloomberg

Gold drifted lower…

Oil prices ended lower after WTI topped $75 intraday…

Finally, bear in mind that VIX was not buying the last big squeeze higher in stocks…

Source: Bloomberg

Reality check time?

AFTERNOON TRADING//

TUCKER CARLSON

II USA DATA

US Existing Home Sales Unexpectedly Limp Higher In Nov, Off Record Lows

WEDNESDAY, DEC 20, 2023 – 10:10 AM

Despite homebuilder sentiment ticking up (along with their stock prices) and housing starts soaring – buoyed by a 100bps decline from multi-decade highs in mortgage rates – analysts expected a small 0.4% MoM decline in existing home sales in November (after October’s big drop).

Instead, existing home sales beat expectations by rising 0.8% MoM in November, which pulled the YoY decline up to just 7.28%…

Source: Bloomberg

“The latest weakness in existing home sales still reflects the buyer bidding process in most of October when mortgage rates were at a two-decade high before the actual closings in November,” said NAR Chief Economist Lawrence Yun. “A marked turn can be expected as mortgage rates have plunged in recent weeks.”

The total existing home sale SAAR bounced very marginally off record lows…

Source: Bloomberg

Regional sales were mixed:

Existing-home sales in the Northeast slipped 2.1% from October to an annual rate of 470,000 in November, down 13.0% from November 2022. The median price in the Northeast was $428,600, up 4.8% from the prior year.
In the Midwest, existing-home sales rose 1.1% from the previous month to an annual rate of 940,000 in November, down 8.7% from one year ago. The median price in the Midwest was $280,800, up 4.9% from November 2022.
Existing-home sales in the South improved 4.7% from October to an annual rate of 1.77 million in November, a decline of 4.3% from the prior year. The median price in the South was $351,500, up 3.4% from last year.
In the West, existing-home sales slumped 7.2% from a month ago to an annual rate of 640,000 in November, down 8.6% from one year before. The median price in the West was $603,200, up 5.3% from November 2022.

Mortgage rates are down, but leave a long way for home sale to drop still…

Source: Bloomberg

But, the gap between current rates and effective rates for Americans is still immense…

Source: Bloomberg

The median existing-home price for all housing types in November was $387,600, an increase of 4.0% from November 2022 ($372,700), but down MoM…

In terms of price buckets, the high-end continues to see substantial volume growth, while houses priced below $500K continue to drop. Perhaps that’s because there just aren’t many houses that are priced below $500K any more.

Additionally, the NAR reported that all four U.S. regions posted price increases.

“Home prices keep marching higher,” Yun added.

“Only a dramatic rise in supply will dampen price appreciation.”

Indeed, inventory levels remain a problem as shown below…

… and between record low inventories, and housing starts accelerating in the latest data, coupled with Powell’s massive pivot, has The Fed re-ignited its 3rd housing bubble of the 21st century?

END

US Consumer Confidence Rose In November, But ‘Family Financial Conditions’ Worsened

WEDNESDAY, DEC 20, 2023 – 10:30 AM

US Consumer Confidence rebounded strongly in November according to the latest survey from The Conference Board, beating expectations across the board.

Consumer confidence rose to 110.7 (estimate 104.5) in December from revised 101 in November
Present situation rose to 148.5 from revised 136.5 in November
Expectations index rose to 85.6 from revised 77.4 in November

Source: Bloomberg

“December’s increase in consumer confidence reflected more positive ratings of current business conditions and job availability, as well as less pessimistic views of business, labor market, and personal income prospects over the next six months,” said Dana Peterson, Chief Economist at The Conference Board.

“While December’s renewed optimism was seen across all ages and household income levels, the gains were largest among householders aged 35-54 and households with income levels of $125,000 and above.

December’s write-in responses revealed the top issue affecting consumers remains rising prices in general, while politics, interest rates, and global conflicts all saw downticks as top concerns.”

Meanwhile, average 12-month inflation expectations continued to recede, and now stands at 5.6% (lowest since Nov 2020), as UMich’s outlier spike has reverted…

Source: Bloomberg

The labor market indicators are trending worse – now at the weakest since April 2021…

Source: Bloomberg

When asked to assess their current family financial conditions (a measure not included in calculating the Present Situation Index), the proportion reporting “good” ticked down while those saying “bad” rose slightly.

Consumers’ Perceived Likelihood of a US Recession over the Next 12 Months abated in December to the lowest level seen this year…

…though two-thirds still perceive a downturn is possible in 2024.

This suggests consumers’ view of their current finances may paint a more tempered picture than the perception that overall conditions are better than a month ago.”

END

III USA ECONOMIC COMMENTARIES

END

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

Biden Mulls Relisting Houthis As A Terror Org, Weighs Offensive Strikes

TUESDAY, DEC 19, 2023 – 06:25 PM

The White House has confirmed that it is currently reviewing whether to (re)designate Yemen’s Houthis as a terrorist organization, after for the past weeks the militant Islamist group has attacked several commercial ships and launched missile and drone attacks against Israel as retaliation for the Gaza campaign.

Likely this would allow for more offensive actions against Houthi positions by the US military, and without Congressional approval, when US assets or commercial shipping comes under attack. Asked about a possible new designation in an afternoon press conference, national security council spokesman John Kirby said that “we’re actually conducting a review right now on whether that’s the right course forward.” US officials have raised the possibility of offensive military strikes for the first time, via news wires:

POSSIBLE STRIKES ON HOUTHIS IN YEMEN CONSIDERED, PEOPLE SAY
US WEIGHS WHETHER TO ATTACK HOUTHIS BEYOND DEFENSIVE TASK FORCE
PEOPLE FAMILIAR SAY NO DECISION MADE YET ON STRIKING HOUTHIS

But ironically it was the Biden administration that took the Houthis off the terror list in the first place, in 2021.

Below is what Secretary of State Antony Blinken said in February of that year:

Effective February 16, I am revoking the designations of Ansarallah, sometimes referred to as the Houthis, as a Foreign Terrorist Organization (FTO) under the Immigration and Nationality Act and as a Specially Designated Global Terrorist (SDGT) pursuant to Executive Order (E.O.) 13224, as amended.

This decision is a recognition of the dire humanitarian situation in Yemen. We have listened to warnings from the United Nations, humanitarian groups, and bipartisan members of Congress, among others, that the designations could have a devastating impact on Yemenis’ access to basic commodities like food and fuel.

The Saudi-UAE-US coalition has waged a brutal air war against Yemen and the rebel Houthis going back to 2015, unleashing a dire humanitarian crisis.

The Houthis have long been seen as proxies of Iran, and have lately declared war against both Israel and any vessel going to Israeli ports. The US on Monday announced a ten-nation coalition to patrol and protect the Red Sea from these attacks. This has included, interestingly enough, the tiny island country of the Seychelles. But the Houthis say their resolve remains undeterred…

Amid White House indecision, the number of major shipping and container companies which have temporarily halted all transit through the Bab al-Mandab Strait and the Red Sea has only grown.

They are as follows: the Italian-Swiss giant Mediterranean Shipping Company, France’s CMA CGM, Germany’s Hapag-Lloyd, Belgium’s Euronav, oil giant BP, Denmark’s A.P Moller-Maersk, Taiwan shipping firm Evergreen, and Norway-based Frontline. As for the naval coalition, there are reports saying it could take a few weeks to actually materialize. By then, many more vessels are likely to come under attack.

The Houthis have meanwhile said this is all part of the war against Palestinians. “The international coalition that America announced under the pretext of protecting maritime navigation in the Red Sea is an alliance to protect the Israeli entity and to protect Israeli ships. It is an integral part of the aggression against the Palestinian people, Gaza, and the Arab and Islamic nations,” the group said in a new statement.

end

USA/Houthis

The “Mouse that Roared”?

(Jerusalem Post)

Houthi leader threatens to attack US warships if Washington targets Yemen

By REUTERSDECEMBER 20, 2023 16:48

The head of Yemen’s Iran-aligned Houthis said on Wednesday his group would start firing missiles at US warships if Washington got more involved in its affairs or targeted Yemen.

Abdel-Malek al-Houthi also warned other countries not to get involved in a multinational operation launched by the US on Tuesday to safeguard commerce in the Red Sea after a surge in Houthi attacks on vessels.

If the United States gets more involved, the Houthis “will not stand idly by and will target them and their battleships and interests with missiles,” Abdel-Malek al-Houthi said in a televised speech.

end

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON

end

USA// COVID//VACCINE/

end

SWAMP STORIES

Colorado Supreme Court Disqualifies Trump From 2024 Ballot, Setting Up Supreme Court Challenge

TUESDAY, DEC 19, 2023 – 06:58 PM

The Colorado Supreme Court has disqualified Donald Trump from Colorado’s 2024 presidential election ballot, and in a 4-3 ruling has effectively blocked Trump from seeking the presidency because of his role in the Jan. 6 Capitol attack, citing the post-Civil War-era 14th Amendment to the US Constitution that bans insurrectionists from holding public office. The Colorado case was the first constitutional challenge to Trump’s 2024 run to go through a full trial.

Voters, represented by the advocacy group Citizens for Responsibility and Ethics, had argued he should be barred from the ballot for inciting the Jan. 6, 2021 attack on the US Capitol.

Colorado’s highest court – whose seven-member bench was entirely appointed by Democratic governors – overturned a ruling from a district court judge who found that Trump incited an insurrection for his role in the Jan. 6, 2021, attack on the Capitol, but said he could not be barred from the ballot because it was unclear that the provision was intended to cover the presidency.

In its ruling, the Democrat-controlled court found that Trump engaged in insurrection by inflaming his supporters with false claims of election fraud and directing them to the Capitol. The state justices determined that the office of the president is covered under the insurrection clause, which specifically lists those who previously took oaths to support the Constitution as “a member of Congress,” “officer of the United States,” “member of any State legislature” or an “executive or judicial officer of any State.” The district court had previously ruled that the office of the president was not covered under the clause.

The majority opinion was unsigned but joined by four of the seven justices.

Those who voted for fascism are the following four Democrat-appointed judges:

Justice Monica M. Márquez

Justice William W. Hood, III

Justice Richard L. Gabriel

Justice Melissa Hart

Three justices dissented from Tuesday’s decision: Chief Justice Brian Boatright, Carlos Samour and Justice Maria Berkenkotter. Each wrote separate dissents taking issue with how the plaintiffs brought their 14th Amendment lawsuit using a provision of Colorado election law.

Berkenkotter wrote that “the majority construes the court’s authority too broadly.”

“The questions presented here simply reach a magnitude of complexity not contemplated by the Colorado General Assembly for its election code enforcement statute,” wrote Boatright. “The proceedings below ran counter to the letter and spirit of the statutory timeframe because the Electors’ claim overwhelmed the process.”

Samour similarly wrote that Colorado’s election law provides no “engine” for such a lawsuit, also noting that no federal legislation existed to enforce the 14th Amendment’s insurrection clause.

“Even if we are convinced that a candidate committed horrible acts in the past—dare I say, engaged in insurrection—there must be procedural due process before we can declare that individual disqualified from holding public office. Procedural due process is one of the aspects of America’s democracy that sets this country apart,” Samour wrote.

Ironically, all this ruling will do is further cement Trump’s status as leading presidential candidate as it not only affirms his status as target #1 of the Biden Department of Justice and liberal court system, but will test the Conservative-dominated Supreme Court appeal over its interpretation of the 14th Amendment, which according to many including a Colorado District court, does not apply to the Presidency.

Indeed, as Vivek Ramaswami observed, the 14th Amendment was part of the “Reconstruction Amendments” that were ratified following the Civil War. “It was passed to prohibit former Confederate military and political leaders from holding high federal or state office. These men had clearly taken part in a rebellion against the United States: the Civil War. That makes it all the more absurd that a left-wing group in Colorado is asking a federal court to disqualify the 45th President on the same grounds, equating his speech to rebellion against the United States.”

And there’s another legal problem: Trump is not a former “officer of the United States,” as that term is used in the Constitution, meaning Section 3 does not apply. As the Supreme Court explained in Free Enterprise Fund v. Public Company Accounting Oversight Board (2010), an “officer of the United States” is someone appointed by the President to aid him in his duties under Article II, Section 2. The term does not apply to elected officials, and certainly not to the President himself.

The Framers of the 14th Amendment would be appalled to see this narrow provision—intended to bar former U.S. officials who switched to the Confederacy from seeking public office—being weaponized by a sitting President and his political allies to prevent a former President from seeking reelection. Our country is becoming unrecognizable to our Founding Fathers.

The court put its ruling on hold until Jan. 4, so Trump can first seek review from the Supreme Court, which he will. Until then, Trump’s name automatically remains on the ballot until the justices resolve the appeal.

“We do not reach these conclusions lightly,” wrote the court’s majority. “We are mindful of the magnitude and weight of the questions now before us. We are likewise mindful of our solemn duty to apply the law, without fear or favor, and without being swayed by public reaction to the decisions that the law mandates we reach.”

Naturally, Trump’s campaign immediately denounced the ruling.

“Unsurprisingly, the all-Democrat appointed Colorado Supreme Court has ruled against President Trump, supporting a Soros-funded, left-wing group’s scheme to interfere in an election on behalf of Crooked Joe Biden by removing President Trump’s name from the ballot and eliminating the rights of Colorado voters to vote for the candidate of their choice,” a campaign spokesman, Steven Cheung, said.

“We have full confidence that the U.S. Supreme Court will quickly rule in our favor and finally put an end to these un-American lawsuits.”

Constitutional law scholar Jonathan Turley, who previously said the case has no solid legal basis, also responded to the decision:

“My first impression remains that same. The court is dead wrong in my view… …It is striking that the court relies on Schenck v. U.S., where the Court upheld the denial of core free speech rights of a socialist opposing a war. The opinion of the Colorado Supreme Court is so sweeping that it would allow for tit-for-tat removals of candidates from ballots.”

Others was just as harsh in their assessment, with many agreeing that this witch hunt will only boost Trump. Some, such as presidential candidate Vivek Ramswami, pledged to withdraw from the Colorado primary unless Trump is reapproved, and urged all other Republican candidates to do the same.

Finally, here is Matt Taibbi’s kneejerk reaction:

By now most readers will have heard that Donald Trump was disqualified from the ballot in the state of Colorado, by the Colorado State Supreme Court, for what amounts to a criminal offense neither proven nor charged. Fifth Amendment, Schmifth Amendment, apparently.

This is a major escalation of the lawfare phenomenon that’s zoomed from simmer to boil in the seven short years since Trump was first elected in 2016. The glee of #Resistance dolts like Robert Reich and Dean Obeidallah at this decision shows that this was a move dreamed up at the very center of the bubble-within-a-bubble-within-a-bubble that is the blob of the modern Democratic Party. Racket readers, I had a piece planned for later on a quasi-related subject, but I’ll try to get it out in the day or so now.

What a crazy effing country this is…

Here is the Colorado Supreme Court Decision in its entirety.

end

Trump Tries To Overturn Gag Order As Judge In Different Case Rejects Bid To Dismiss

TUESDAY, DEC 19, 2023 – 05:45 PM

Former President Donald Trump made yet another attempt to overturn a federal gag order at the US Court of Appeals for the District of Columbia Circuit – with his attorneys arguing that the appeals panel was wrong on five counts, and as such, a rehearing is in order in the decision regarding his 2020 election interference case before Judge Tanya Chutkan.

“The opinion holds that President Trump must be silenced to protect trial participants from possible threats or ‘harassment’ from unrelated third parties,” reads the petition, after the appeals court panel agreed with the rationale of lower court judges in issuing two separate gag orders on the former president.

“In doing so, the opinion conflicts with decisions of the Supreme Court and other Circuits, warranting en banc consideration both to secure uniformity of this Court’s decisions and because of the question’s exceptional importance,” they wrote, requesting an en-banc hearing before all of the judges in the court.

The appeals panel said, first during a hearing and later in the issued opinion, that they sought a balance between First Amendment rights and the need to uphold the integrity of court proceedings.

The defense attorneys argue that the court ultimately accomplished neither and reinforced the gag order based on “a third standard, for which it cites no authority.” When it comes to restricting speech to prevent harm, there is another set of precedents to inform these decisions, and defense attorneys argue that the appellate court judges did not meet those standards, primarily the “clear and present danger” test set by a U.S. Supreme Court ruling. –Epoch Times

Trump’s attorneys referenced cases in which it was ruled that presidential candidates have “absolute freedom” in their speech, and that the judges didn’t properly consider these cases. They also used the ‘heckler’s veto’ theory, arguing that the appeal’s court is wrongly making assumptions about anticipated reactions to Trump’s speech, and have justified those assumptions “on the basis that the audience is not ‘hostile’ to President Trump, but that justification contradicts the Supreme Court’s incitement doctrine.”

Judge questions expert witness, denies bid to dismiss

Meanwhile, in Trump’s New York real estate case, Judge Arthur Engoron rejected the former president’s bid to toss the case, while also questioning the credibility of a key defense witness who was paid nearly $900,000 to appear.

According to ENgoron, there were “fatal flaws” in the Trump team’s argument – the “most glaring” being the assumption that the testimony of their witnesses “is true and accurate, or at least that the Court, as the trier of fact, will accept it as true and accurate.”

One of the experts, NYU Professor of Accounting, Eli Bartov, refuted any suggestion that his payment influenced his opinion, and said he was “shocked” at the judge’s remarks, the Epoch Times reports.

“Bartov is a tenured professor, but all that his testimony proves is that for a million or so dollars, some experts will say whatever you want them to say,” wrote Engoron in his three-page ruling. “His overarching point was that the subject statements of financial condition were accurate in every respect.”

Mr. Bartov testified on Dec. 7 that he did not find any evidence of fraud in the Trump family real estate company’s financial statements, which are central to the New York attorney general’s allegations of overstating property values to gain favorable loan and insurance terms.

However, he pointed out in an email that his testimony included the fact that President Trump’s statement contained errors.

“No expert rebutted my testimony or testified that they found fraud,” Mr. Bartov said. “As to his speculation that my billing rate had anything to do with my opinion, this is my standard billing rate.”

Mr. Bartov disclosed that he billed more than $870,000 for approximately 650 hours of work, with payments received from both the Trump Organization and Save America, a political action committee supporting Trump’s 2024 election campaign. -Epoch Times

So, Trump can’t speak his mind, and his expert witness is discarded simply because the judge disagreed. What a world.

END

majority of democrats want Hunter Biden prosecuted for contempt

(Jonathan Turley)

Majority Of Democrats Want Hunter Prosecuted For Contempt; Harvard/Harris Poll Finds

WEDNESDAY, DEC 20, 2023 – 10:15 AM

Authored by Jonathan Turley,

It appears that the concerted effort to excuse Hunter Biden’s defiance of a subpoena in the media has failed. According to a Harvard Caps/Harris poll, 71 percent of Americans believe that Hunter should be prosecuted for contempt of Congress. What is remarkable is that 54 percent of Democrats support his prosecution.

I have previously written that Hunter committed a flagrant, criminal violation in holding his presser in front of the Congress and refusing to appear for a deposition in the House. There is an equally compelling basis to take action against Rep. Eric Swalwell (D., Cal.) under House rules for facilitating the alleged federal crime.

The poll shows that, again, the public has rejected the spin in the media and correctly sees this act for what it was: a federal crime.

Every group is lined up in favor of prosecution:

Democrats: 54 percent support
Republicans: 89 percent support
Independents: 72 percent support

The decision of Hunter and his counsel to take this action remains legally incomprehensible. He could have gone into the committee room and taken the 5th Amendment. There is no cognizable defense in my view to this charge.

Hunter may now have not just created a third threat of incarceration, but placed his father and his administration in the worst of possible positions.

Two Trump associates – Steven Bannon and Peter Navarro – refused to appear in the House and were quickly held in contempt by a majority of the House, including Swalwell.

Indeed, President Biden himself has maintained that defying subpoenas cannot be tolerated. When subpoenas were issued to Republicans during the House’s Jan. 6 investigation, Biden declared: “I hope that the committee goes after them and holds them accountable criminally.”

The Justice Department clearly agreed. Under Attorney General Merrick Garland, Bannon went from a failure to appear to an actual indictment in just two months.

Garland would be expected to show the same commitment and speed with the President’s son.

The possibility of a third indictment also can have blowback on his other cases. It shows a continuing contempt for the legal process and a pattern of criminality. It also could be cited as another example of attempting to conceal information from the government. If Hunter faces sentencing on the tax or gun charges, subsequent criminal conduct can make a court less likely to be lenient.

None of this is good for Joe Biden. It shows that the public rejects the claim that Hunter is a victim. Instead, he is seen as displaying the ultimate sense of entitlement and privilege in going to the Hill to thumb his nose at Congress.

Hunter’s contempt is reminiscent of when he told ABC News reporter Amy Robach to “say it nicer” when she asked him about his prior conduct. While the Bidens may be able to get away with instructing the media on how to question family members, it does not have the same license with Congress. Hunter Biden does not get to dictate how or when he will answer questions from Congress. Congress does not have to “say it nicer.”

END

THE KING REPORT

The King Report September 20, 2023 Issue 7143

Independent View of the News

As expected, the Bank of Japan kept interest rates at -0.1% and its yield curve policy that maintains a 1% upper bound for 10-year Japanese government bonds as its limit.

However, the BoJ and Gov. Ueda did not talk about or hint that it would end its ZIRP – even though BoJ officials have done so over the past few weeks. Moreover, the BoJ issued unexpectedly dovish remarks, namely that it would supply even more juice if necessary. The yen tumbled.

Did Japan Economic Minister Yoshitaka Shindo attendance at the BoJ Policy Meeting, for the 1st since 2020, induce the BoJ to be more dovish than expected?

BOJ keeps ultra-loose policy intact
“The BOJ will continue to maintain the stability of financing, mainly of firms, and financial markets, and will not hesitate to take additional easing measures if necessary,” the BOJ said in a statement, maintaining its dovish policy guidance.  https://finance.yahoo.com/news/boj-keeps-ultra-loose-policy-025855107.html

The Nikkei Asia: BOJ’s Ueda ‘throws cold water’ on expectations for early policy shift
Going into the meeting, there were expectations the BOJ would prepare markets for a policy shift at its next meeting scheduled for Jan. 22-23, but Gov. Kazuo Ueda gave no sign of such a move in a post-meeting press conference…
     One focus of the press conference was how Ueda would clarify a remark he made on Dec. 7, when he said that the handling of monetary policy will get “more challenging from the year-end and through next year.”   The remark was interpreted by market players as an attempt to prepare the market for an eventual exit from the negative interest rate policy. Ueda dismissed this interpretation, saying that the question was about how he plans to go about his work in general…
    “The probability of the economy achieving self-sustaining inflation is increasing,” Ueda said. “Most policy board members are of the opinion that they need to observe the situation for a little longer” before pursuing policy normalization…
    The decision comes as consumer inflation has spread from food and energy to services — the latter including hotel prices, mobile phone usage fees and apartment rents — raising the prospect of sustained inflation… Tanji says there will be less pressure on the BOJ to adjust its ultra-easy policy going forward as the Fed is likely to lower rates, allowing the yen to regain some ground…
https://asia.nikkei.com/Economy/Bank-of-Japan/BOJ-s-Ueda-throws-cold-water-on-expectations-for-early-policy-shift

The Atlanta Fed GDPNow Model has lifted is Q4 GDP again – to 2.7%. It was 1.2% two weeks ago.
https://www.atlantafed.org/cqer/research/gdpnow

US housing starts unexpectedly jumped to a 6-month high in November. New-home construction increased 1.56m; 1.36m was consensus. October was revised to 1.359m from 1.372m. Obviously homebuilders went gaga over Powell and Fed officials’ interest rate cut rhetoric.  The record easing of financial conditions is already impacting the US economy.

Building Permits declined to 1.46m from 1.498m in November. 1.465m was expected.

ESHs traded modestly lower but flat during early Nikkei trading. They turned positive after 22:00 ET but went flat again. After the 3 ET European opening, ESHs rallied modestly and went flat, again.

After the 7:00 ET US repo market opening, ESHs spiked 7 handles but quickly went into a 6-handle trading range until they broke down near 9 ET. After a modest decline into the NYSE opening, ESHs commenced a sharp 20-handle rally that ended at 11:12 ET.

After a 4-handle retreat into the 11:30 ET European close, ESHs made a minor new high of 4817.00 at 11:46 ET. They then fell to 48.08.25 at 12:21 ET. Then liberal Atlanta Fed President Bostic spoke.

Bostic said ‘we’ve come a long way on inflation but still have ways to go.’ He then stated that he sees continued cooling in inflation and labor markets. ESHs rallied to 4814.00 at 12:54 ET. The rally then stalled because Bostic said Fed policy will need to be ‘resolute and patient’ and ‘the Fed is not going to jump at the first data point.’ He also equivocated on the Fed’s inflation goal. ‘Now is not the time to consider changing the inflation goal; but nothing should be etched in stone.’

Fed’s Barkin wants more ‘conviction’ on inflation before rate cuts can begin    13:04 ET
Richmond Federal Reserve President Tom Barkin said Tuesday the central bank has made good progress on bringing down inflation, but he needs to see more consistency in the data before rate cuts can begin.
    “I think we’re nicely positioned now with a 3% inflation rate moving down, and a 3.7% unemployment rate staying relatively steady,” Barkin told Yahoo Finance Live in an exclusive interview…
https://finance.yahoo.com/news/feds-barkin-wants-more-conviction-on-inflation-before-rate-cuts-can-begin-180421669.html

After a 6-handle dip, ESHs resumed rallying and hit 4815.50 at 13:47 ET. ESHs and stocks then went inert until they eased lower near 15:00 ET. ESHs quickly went inert again. The late manipulation began at 15:40 ET. ESHs hit a daily high of 4821.50 at 15:59 ET.

Commodities rallied sharply, with gasoline jumping as much as 1.7%. January Gasoline has rallied from 197.09 on Fed Day to a high of 220.09 on Tuesday. We erroneously wrote that gasoline had rallied 20%; at that time, gasoline had rallied 20 cents.

El-Erian Says Fed Has a ‘Real Problem’ with CommunicationMarkets now pricing in nearly six Fed rate cuts in 2024US central bank is being ‘bullied’ by markets, El Erian says“Fed communication confuses people. I think we have a real problem.” (What do you expect when Fed leftists try to aid & abet Biden and then attempt to euchre people into believing there are apolitical?)
https://www.bloomberg.com/news/articles/2023-12-19/el-erian-says-fed-has-a-real-problem-with-communication

Fed leftists and anti-trump Fed officials are trying to help Biden without being transparently political.

Bipartisan opposition to Nippon takeover of U.S. Steel grows – DJ 10:25 ET
“Today a critical piece of America’s defense-industrial base was auctioned off to foreigners for cash,” said Sen. J. D. Vance, an Ohio Republican, in a statement to MarketWatch in which he criticized U.S. Steel’s focus on the value of the deal for shareholders while ignoring its impact on “our nation’s security, industry and workers.” The Democratic senators from the Pittsburgh-based company’s home state both came out against the deal as well…
https://www.morningstar.com/news/marketwatch/20231219116/bipartisan-opposition-to-nippon-takeover-of-us-steel-grows

Barkin says Fed makes ‘good progress’ on taming inflation, but too early to talk rate cuts
“We’re not yet done with inflation,” he said. The current rate of inflation ranges from 3.0% to 3.7%, depending on the measure… Barkin noted that financial markets have consistently forecast lower rates than the Fed and have usually been wrong. Investors should judge accordingly, he said.
https://www.marketwatch.com/story/barkin-says-fed-makes-good-progress-on-taming-inflation-but-too-early-to-talk-rate-cuts-2519ac54

Positive aspects of previous session
The DJIA and Nasdaq hit all-time highs (Wait until rates are cut!)
Stocks rallied robustly, again – Few people believe the Fed rate but walk back attempts
Fed leftists are obviously embarrassed by their transparent efforts to boost The Big Guy

Negative aspects of previous session
Gasoline rallied sharply again

Ambiguous aspects of previous session
Which rally will end first: stocks, bonds, or commodities?

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]: 4760.26
Previous session S&P 500 Index High/Low: 4768.69; 4743.72

@RNCResearch: CNBC: 66% of Americans say they’re “pessimistic, now and for the future” — a record high in the 17-year history of the survey. “We’ve never found people more depressed.”
https://twitter.com/RNCResearch/status/1737135230899613744

Democratic pollster warns President Biden he’s ‘losing ground’ every month: ‘Stop touting progress’ https://t.co/mEj4bYJ3FC

Axios: Biden’s private resistance to acknowledging his age (Has spent 40% of presidency on vacation)
President Biden’s reluctance to acknowledge his physical limitations at age 81 is causing some tension on his team, as senior aides and First Lady Jill Biden push him to rest more and be vigilant about his health going into 2024… But his repeated insistence that he feels so young can draw eye rolls: Some current and former aides believe Biden doesn’t realize how old he can come across…
    Jill Biden and her team are deeply involved in the president’s day-to-day schedule…
    Polls indicate that more than 70% of voters have concerns about Biden serving a second term because of his age…  https://www.msn.com/en-us/health/other/bidens-private-resistance-to-acknowledging-his-age/ar-AA1lJ3Kh

Pfizer’s $43 Billion Acquisition Raises Eyebrows: Are They Betting on a Cancer Epidemic?
Pfizer has made a jaw-dropping move in the medical industry, finalizing the massive acquisition of Seagen, a relatively small drug company known for its innovative treatments for aggressive cancers, despite its modest annual revenue of $2 billion.
    Pfizer’s acquisition solidifies its position as the leading oncology company globally, empowering it to tackle a broad spectrum of aggressive cancers that may arise as a result of mRNA vaccines…
    Pfizer doesn’t require the funds, and it’s planning to issue $31 billion in debt solely for the purpose of acquiring Seagen…  https://chriswicknews.com/pfizers-43-billion-acquisition-raises-eyebrows-are-they-betting-on-a-cancer-epidemic/6289/

@jasongoepfert: The S&P 500 equal-weight index just cycled from a 52-week low to 52-week high in 33 days. The only time since 1957 it happened faster was in September 1982 when the average stock went on to gain 46% over the next year.

After the close, FedEx sank as much as 10.5%. Q2 ADJ EPS 3.99; 4.19 expected; sales fell 2.6% to $22.2B, $22.4B was consensus. Analysts blamed soft cargo demand and overcapacity in air freight.

Early last evening, Goolsbee appeared yet again On Fox, Obama’s BFF said the market has gotten a little head of itself and the Fed should not be bullied by the markets (but stooging for Biden is okay?).
Today – Tuesday was the last trading session for December VIX options; today is settlement. Ergo, there could be some scheme into the 14:15 ET VIX Fix. Be alert for a reversal of any move into the VIX Fix.

The S&P 500 Index is 50.25 (1.052%) from its all-time high (4818.62). Traders will shoot for this number in coming days.  The bubble is inflating; it will take more than Fed equivocations to burst it.

Expected economic data: Q3 Current Account -$196.0B; Dec Conference Board Consumer Confidence 104.5; Nov Existing Home Sales 3.78m; Chicago Fed Pres Goolsbee speaks (AGAIN!) noon ET

ESHs are -1.75; USHs are +6/32; and Feb AU is +0.80 at 20:12 ET.

S&P 500 Index 50-day MA: 4437; 100-day MA: 4431; 150-day MA: 4408; 200-day MA: 4321
DJIA 50-day MA: 34,693; 100-day MA: 34,604; 150-day MA: 34,408; 200-day MA: 34,094
(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 4424.99 triggers a sell signal
Daily: Trender and MACD are positive – a close below 4655.93 triggers a sell signal
Hourly: Trender is positive; MACD is negative – a close below 4725.52 triggers a sell signal

Biden campaign co-chair ‘afraid’ Dems will get blame for border crisis (not a parody) https://trib.al/jGik173

House GOP takes aim at White House for omitting Hunter Biden on Marine One list amid missing visitor logs – The Biden White House previously came under fire for omitting Hunter Biden from its visitor logs  https://www.foxnews.com/politics/house-gop-takes-aim-white-house-omitting-hunter-biden-marine-one-manifest-amid-missing-visitor-logs

@RNCResearch: “Will the White House announce Hunter Biden’s presence on Marine One moving forward?” KARINE JEAN-PIERRE: No   https://twitter.com/RNCResearch/status/1737200620874936491
    Why does the president think it’s appropriate that taxpayer dollars should be used to fly [Hunter Biden] around?” KARINE JEAN-PIERRE: “The president loves his son”
https://twitter.com/RNCResearch/status/1737200948802453747

Dem talking points demand that any question about Joe’s possible venality with Hunter is to be answered with, “Joe/the president loves his son” or some suitable variation of that.

@paulsperry_: Joe Biden has a new 2024 running mate… Hunter Biden. Whether he wants him or not.

The Colorado Supreme Court, in a 4-3 decision (all appointed by Dem Gov.) has removed Trump from the 2024 ballot citing a post-Civil War clause in the 14th Amendment that bars anyone who “engaged in insurrection or rebellion” from serving in the government – even though Trump has NOT been convicted or tried for that crime!  The ruling is so risible and ridiculous that the decision was UNSIGNED and the court stayed their own court order pending the inevitable appeal to the US Supreme Court.
https://www.courts.state.co.us/userfiles/file/Court_Probation/Supreme_Court/Opinions/2023/23SA300.pdf

Trump Campaign Spokesman Steven Cheung called the Colorado court decision “a Soros-funded, left-wing group’s scheme to interfere in an election on behalf of Crooked Joe Biden.”

@CBSNews “This is unprecedented, and in many ways, unexpected,” CBS News election law contributor David Becker says as the Colorado Supreme Court rules that former Pres. Trump is disqualified from holding the presidency.

How much will the egregious Colorado Supreme Court decision boost Trump in the polls?

@Geiger_Capital: I voted for Biden.  This is insane. We are spiraling quickly.

House GOP #3 Rep. @EliseStefanik: Four partisan Democrat operatives on the Colorado Supreme Court think they get to decide for all Coloradans and Americans the next presidential election. This is unAmerican and Democrats are so afraid that President Trump will win on Nov 5th 2024 that they are illegally attempting to take him off the ballot. Like the rest of the unprecedented, constant, and illegal election interference against President Trump, this will backfire and further strengthen President Trump’s winning campaign to Save America.

@themarketswork: Lawfare has become a stage-4 cancer.  Dems recognized the power that could be attained through actions in the courts. But the result is a total loss of faith in our judicial system. Supreme Court can address some, but certainly not all ills. A frightening point for our country.

@SeanParnellUSA: This is how Democrat judges work. They don’t care about the law. They don’t care about legal precedent. They don’t care about history or the Constitution. Their political agenda is their religion & it’s all that matters to them.

@DavidBozell: Try as the Supreme Court might, but they are not going to be able to avoid 2024 election related cases. Democrats can’t help themselves and will overreach a ton. Colorado and Trump’s trials are just the beginning. (The chicken Schiff SCOTUS ducked numerous 2020 Election cases.)

Over 170 of Jeffrey Epstein’s high-profile associates will be NAMED in court documents set to be unsealed in the first days of 2024: Daily Mail
    A judge has ruled to unseal documents that would name 177 Does who are Epstein’s friends, recruiters and victims within the coming weeks
    The material is related to a defamation case brought by Prince Andrew’s accuser Virginia Roberts in New York against Epstein’s madam Ghislaine Maxwell
    The hundreds of files will shed new light on the late financier’s sex trafficking operation and his network of influence…
https://www.dailymail.co.uk/news/article-12881277/Pedophile-Jeffrey-Epstein-associates-named-unsealed-court-document.html

@jsolomonReports: Did you know that Adam Schiff led the impeachment of a federal judge a decade ago, partly on grounds that his children benefited from gifts from parties before his court? Experts say the case could be relevant to the Joe Biden inquiry.

We Are Well Beyond Hypocrisy – Have we again forgotten the subpoenaed Trump children?
The abject narcissism of the insular Left is startling…
    The Left is saturating the airwaves with outrage over the current House Republicans’ impeachment inquiry. They allege that formally investigating Joe Biden’s role in the family grifting operation is somehow a poor constitutional precedent, if not out-of-bounds entirely…
    The Democrats tried to remove an elected president over a phone call without a special counsel’s report… There was no concern about the cost to the nation of putting an elected government into a continual state of siege. There is one difference, though, between the Trump impeachment and the Biden impeachment inquiry. Donald Trump was impeached because he accurately accused the members of the Ukrainian government of paying Hunter Biden…
    Hunter has refused to testify. He is now being held in contempt of the U.S. Congress—to the silence of the usually self-righteous former senator Joe “pay your fair share” Biden…
    Ask Peter Navarro or Steve Bannon whether one can simply ignore a House subpoena. Ask Ivanka Trump whether she was, or was not, subpoenaed to appear before the January 6 committee. Ask the Trump sons whether they could breezily say “no” to Letitia James’s subpoenas in her farcical real-estate-valuation suit against Trump…
    So, we are told that a son’s legal exposure is an unfair weight on a president. Have we again forgotten the subpoenaed Trump children, much less the four weaponized indictments of Trump himself? Does anyone wish to compare the drug-addicted, prostitute-hiring, gun-losing, pornographic-photo-taking, shake-down grifting of Hunter with the conduct of the five Trump children?…
    But the left does not see such absolutes. Instead, once a supposedly morally-superior agenda is enunciated, then any means necessary are justified to obtain it…
https://amgreatness.com/2023/12/18/we-are-well-beyond-hypocrisy/

Russia, Iran, China, Cuba targeted 2022 midterms but ‘no evidence’ election compromised, US says
Foreign governments such as Russia, China, Iran and Cuba attempted to influence the 2022 U.S. midterms, but U.S. intelligence agencies said they have “no evidence” that any foreign actors impacted the election’s security or integrity.
    U.S. intelligence agencies, such as the CIA and the Department of Homeland Security, wrote the report in December 2022, and the National Intelligence Director’s Office released the heavily redacted document Monday…  https://t.co/QT7kK04Zw6

@JesseBWatters: Why is a Media Matters maniac activist, with no children, and who was sworn in on gay porn books, the new chair of the Fairfax school board? (To mock parents that opposed the books?)
https://twitter.com/JesseBWatters/status/1736929443313037602

GREG HUNTER INTERVIEWING BO POLNY

Chaos, Turning Point & Great Awakening – Bo Polny

Chaos, Turning Point & Great Awakening – Bo Polny

By Greg Hunter On December 20, 2023 In Political Analysis10 Comments

By Greg Hunter’s USAWatchdog.com

Biblical cycle timing expert, geopolitical and financial analyst Bo Polny has been saying all year that the end of December is going to be the beginning of big trouble for the stock market, the dollar and the Treasury market. Polny explains, “Babylon is going to fall. When this happens, forget about it. Many banks are going to go under. When gold and silver explode, they will be bank killers. It will destroy the financial system. We are going to see the financial system go down, and in February, they are going to turn the printing press on like you have never seen before. The stock market is going to reverse and take off again. That is very likely. They are creating money out of thin air, and the world is going to know one thing come February: the whole system is a fraud. They are going to know Caesar has got no clothes. So, an event is about to go down in the financial system and, I believe, into this weekend. I do believe gold and silver are going to spike as we head into Christmas. So, as we are headed into this weekend, this Friday, something big is about to go down, and that just starts, I am going to use the word starts, the greatest financial event in human history. Bankers are going to freak out when this goes down. They are going to try to hammer gold back down.”

Polny contends this is more than a big financial event. Polny says, “So, we are at a turning point. . . . This speaks to what is about to happen. I personally call this the ‘Great Awakening.’ When God opens a door, no man can close it. This is going to be a shift upon the world that will be completely historic, Biblical, and it’s going to be scary for a lot of people. Kim Clement had a prophecy where God said, ‘I will let them bring this nation to its knees.’ So, please understand this is not going to come easy. On the other end of it, if you know God the Father, His Son Jesus Christ and the Holy Spirit have complete control, then there is nothing to fear. The only thing Satan has is fear. So, he’s going to try to scare you. Yes, we are stepping into a scary time point, but on the other side, it’s the greatest victory you have ever seen.”

In closing, Polny says, “So, expect chaos. It’s coming. Expect bank failures, and expect things to go black and dark for awhile. Everything is going to change dramatically in our world. We are at that moment in time as this year is ending. . . . We are facing a worldwide syndicate of evil. . . .It’s going to look horrible, but God/Yahweh will have a great victory in the end.”

Polny says, overall, expect the US dollar to go lower and gold, silver and Bitcoin to trend higher, much higher in 2024.

There is much more in the 48-min interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Biblical cycle expert and financial analyst Bo Polny, founder of Gold2020Forecast.com for 12.19.23.

(https://usawatchdog.com/chaos-turning-point-great-awakening-bo-polny/)

(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:

You can find free information on Gold2020Forecast.com.

SEE YOU ON WEDNESDAY

Shanghai Gold Benchmark Price

GOLD: NUMBER OF NOTICES FILED FOR DEC/2023. CONTRACT: 442 NOTICES FOR 44200 OZ or 1.375TONNES

total notices so far: 14,472 contracts for 1,447,200 oz (45.014 tonnes)

FOR DEC:

SILVER NOTICES 128 NOTICE(S) FILED FOR 640,000 OZ/

total number of notices filed so far this month : 3209 for 16,045,000 oz

The World Is Sitting On A Powder-Keg Of Debt

THE DEBT SPIRAL

LME plans new metals contracts using Shanghai prices, sources tell Reuters

Futures Slide, Brent Jumps Back Over $80 As Red Sea Woes Spread

Equities weaker, DXY firmer, Softer UK CPI leads GBP lower & Gilts bid; Fed’s Goolsbee due – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

LATAM

BoE Rate-Cut Odds Soar, Cable Tumbles After UK Inflation Slows Far More Than Expected

Hamas leader visits Egypt amid intensive talks on new ceasefire

The source described the negotiations as intensive and said a breakthrough could be possible within days.

UN vote delayed

Fatal mistake: IDF soldiers never received intel that hostages were likely in Shejaia

Had the information been passed on, soldiers would likely have had a clearer picture of the situation.

Had they known, it would likely have gone differently

IDF uncovers secret underground Hamas tunnels in Gaza’s Palestine Square

Israeli military uncovers how Hamas leaders Haniyeh, Sinwar, and Deif controlled Gaza from underground • IDF takes over Commander’s Square

Using the tunnels for movement

What was found in the tunnels?

The square after the IDF attack

IDF conducts airstrikes on Hezbollah targets in Lebanon

Houthi threats prompt shipping companies to rethink Suez Canal use

If all traffic in the Suez Canal stopped, Egypt would lose about $13 million daily, disrupting its main foreign currency income.

The impact of the Houthi attacks

A global issue

GLOBAL VACCINE/COVID ISSUES

If Jonathan Turley, left legal scholar, IMO brilliant even when I did not agree, says what Colorada Court did to Trump & ballot was a “slippery slope,” stating the court is “wrong on the law.”, then

we are in trouble in America now for the left, DC deepstate cabal, RINOs etc. not just trying to imprison Trump, assassinate him literally but now using the courts WRONGFULLY to stop him from victory

Dr. Mike Yeadon is a mentor of mine, a hero, a real GIANT often silenced among the COVID Freedom Fighter movement, remarkable as that is, aligns with me that this JN.1 & HV.1 sub-variants are ‘BS’

“variant” of nonexistent virus, just as planned.’; Yeadon has been issuing clarion call after call, his genius makes him scary to money whores for donor money; Dr. Yeadon: “there has been no pandemic”

Dr. Yeadon: “…there has been no pandemic, no public health emergency and therefore no nasty, scary virus…pandemics are impossible because these acute respiratory illnesses are not contagious, and we’ve been lied to about that for decades…”

Dr. Mike Yeadon: WHY ARE THEY ALL SO DESPERATE TO PREVENT ME BEING HEARD?

” Three occasions upon which parliamentarians in Germany, Croatia and U.K. might have heard me, it didn’t happen. I think it’s not coincidence.”

LATEST REPORTS FOR NEWS JUNKIES

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

Market Continues To Shrug Off Efforts By Fed Policymakers To Push Back On Rate Cut Expectations

100 Container Ships Diverted, Insurance Surges As Red Sea Chaos Worsens

“He’s Starting A Revolution”: Does Milei’s Win Signal A Global Anti-Communist Turning Point?

Stocks & Bond Yields Puke As Goldilocks Dies

Did the Goldilocks narrative just die?

US Existing Home Sales Unexpectedly Limp Higher In Nov, Off Record Lows

US Consumer Confidence Rose In November, But ‘Family Financial Conditions’ Worsened

Biden Mulls Relisting Houthis As A Terror Org, Weighs Offensive Strikes

Houthi leader threatens to attack US warships if Washington targets Yemen

Colorado Supreme Court Disqualifies Trump From 2024 Ballot, Setting Up Supreme Court Challenge

Trump Tries To Overturn Gag Order As Judge In Different Case Rejects Bid To Dismiss

Majority Of Democrats Want Hunter Prosecuted For Contempt; Harvard/Harris Poll Finds

Chaos, Turning Point & Great Awakening – Bo Polny

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