GOLD PRICE CLOSED: DOWN $7.40 TO $2015.60
SILVER PRICE CLOSED: DOWN 34 cents AT $22.55
Access prices: closes 4: 15 PM
Gold ACCESS CLOSED 2028.10
Silver ACCESS CLOSED: 22.75
Bitcoin morning price:, 46,964 UP 899 DOLLARS
Bitcoin: afternoon price: $45,846 up 2017 dollars
Platinum price closing $914.36 DOWN $7,20
Palladium price; $986.50 down $6.90
END
SHANGHAI GOLD (USD) FUTURES – QUOTES
Beginning Monday, April 1, 2024, CME Group settlement data will no longer be accessible through ftp.cmegroup.com and will have a delayed publication time of 12:00 a.m. CT on all cmegroup.com web pages. Learn about alternate ways to access the data in our FAQ.
AUTO-REFRESH IS OFF
Last Updated 11 Jan 2024 11:46:14 AM CT.
Market data is delayed by at least 10 minutes.
SHANGHAI OVER NY: 40 DOLLARS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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: $2,716.50 UP 7.70 CDN dollars per oz( * NEW ALL TIME HIGH 2,795.90 CDN DOLLARS PER OZ//DEC 1 272023)
*BRITISH GOLD: 1588.92 DOWN 1.12 pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1655.17 BRITISH POUNDS/OZ) OCT 2/2023
*EURO GOLD: 1848,40 UP 3.00 euros per oz //* (ALL TIME CLOSING HIGH: 1903.75 EUROS PER OZ//DEC 1.2023)
DONATE
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
EXCHANGE: COMEX
EXCHANGE: COMEX
CONTRACT: JANUARY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,021.700000000 USD
INTENT DATE: 01/10/2024 DELIVERY DATE: 01/12/2024
FIRM ORG FIRM NAME ISSUED STOPPED
363 H WELLS FARGO SEC 115
435 H SCOTIA CAPITAL 27
624 H BOFA SECURITIES 244
657 C MORGAN STANLEY 3
657 H MORGAN STANLEY 4
661 C JP MORGAN 20 354
737 C ADVANTAGE 7 16
905 C ADM 18
TOTAL: 404 404
MONTH TO DATE: 3,198
JPMorgan stopped 354/404 contracts.
FOR JAN.:
GOLD: NUMBER OF NOTICES FILED FOR JAN/2023. CONTRACT: 404 NOTICES FOR 40,400 OZ or 1.2566 TONNES
total notices so far: 3198 contracts for 319800 oz (9.947 tonnes)
FOR JANUARY:
SILVER NOTICES 128 NOTICE(S) FILED FOR 640,000 OZ/
total number of notices filed so far this month : 694 for 3,470,000 oz
XXXXXXXXXXXXXXXXXX
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
END
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES
GLD
WITH GOLD DOWN $7.40
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ : /HUGE CHANGES AT THE GLD: A HUGE WITHDRAWAL OF 4.61 TONNES OF GOLD FROM THE GLD//
INVENTORY RESTS AT 864.99 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER DOWN 34 CENTS AT THE SLV//
NO CHANGES AT THE SLV//
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 433.912 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A SMALL SIZED 232 CONTRACTS TO 131,760 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS SMALL SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR LOSS OF $0.03 IN SILVER PRICING AT THE COMEX ON WEDNESDAY. WE HAD ZERO LONG LIQUIDATION BUT WITH CONSIDERABLE T.A.S. LIQUIDATION AT THE COMEX SESSION. WE HAD A HUGE 1408 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT: 1408 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS. IT THUS LOOKS LIKE THE FED (GOV’T) IS BEHIND ALL OF THESE TRADES.
WE HAVE NOW SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.03), BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A GIGANTIC SIZED GAIN OF 1082 OI CONTRACTS ON OUR TWO EXCHANGES.
WE MUST HAVE HAD:
A HUGE SIZED 1314 ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 6.650 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 43,400 OZ QUEUE. JUMP NEW TOTALS 6.115 MILLION OZ//
//NEW STANDING FOR SILVER IS THUS 6.115 MILLION OZ
//GIGANTIC SIZED COMEX OI GAIN/ SMALL SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1203 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED 329 CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JAN ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JAN
TOTAL CONTRACTS for 8 days, total 6431 contracts: OR 32.155 MILLION OZ (803 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 25.585 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. 66.140 MILLION OZ//
TOTAL 2023: 1,104.10 MILLION OZ/
JAN ’24 : 32.585 MILLION OZ
RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 232 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 1314 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 JAN. OF 6.665 MILLION OZ FOLLOWED BY TODAY’S 40,000 OZ QUEUE JUMP //NEW TOTAL 5.115 MILLION OZ TO WHICH WE ADD EX. FOR RISK ISSUANCE/PRIOR FOR 1.0 MILLION OZ //NEW TOTALS; 6.155 MILLION OZ/
NEW STANDING 6.155 million OZ /// WE HAVE A GIGANTIC SIZED GAIN OF 1082 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1408 CONTRACTS//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION/RAID// WITH SOME SHORT COVERINGS FROM OUR SPEC SHORTS. THE NEW TAS ISSUANCE WEDNESDAY NIGHT (1408) 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 FELL BY A FAIR SIZED 3403 CONTRACTS TO 486,446 AND FURTHER FROM THE 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 168 CONTRACTS
WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 3403 CONTRACTS) WITH OUR $4.80 LOSS IN PRICE//WEDNESDAY. WE ALSO HAD A RATHER STRONG INITIAL STANDING IN GOLD TONNAGE FOR JAN. AT 8.214 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 43,400 OZ QUEUE JUMP//NEW STANDING: 10.184 TONNES // ALL OF THIS HAPPENED WITH OUR $4.80 LOSS IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A SMALL SIZED LOSS OF 356 OI CONTRACTS (1.107) PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3047 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 486,446
IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 356 CONTRACTS WITH 3403 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3047 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 356 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA MEGA MEGA HUMONGOUS SIZED 31,745 CONTRACTS. (2ND HIGHEST T.A.S. ON RECORD ISSUANCE)
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3047 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (3255) //TOTAL LOSS FOR OUR THE TWO EXCHANGES: 356 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR JAN AT 8.214 TONNES FOLLOWED BY TODAY’S 43,400 OZ QUEUE JUMP//NEW STANDING 10.184 TONNES. / 3) ZERO LONG LIQUIDATION AND HUGE TAS LIQUIDATION WITH ZERO SHORT LIQUIDATION// 4) FAIR SIZED COMEX OPEN INTEREST LOSS/ 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: HUMONGOUS T.A.S. ISSUANCE: 31,745 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
JAN.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JAN. :
TOTAL EFP CONTRACTS ISSUED: 27,531 CONTRACTS OR 2,753,100 OZ OR 85.63 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 3441 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAY(S) IN TONNES 85.63 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 85.63/3550 x 100% TONNES 2.42% 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. 213.704 TONNES. A STRONG MONTH//
TOTAL FOR YEAR 2023: 2,569.57 TONNES VS 2578 TONNES LAST YEAR
JAN ’24: 85.63 TONNES (WILL EQUAL LAST MONTH’S ISSUANCE)
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF DEC. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (FEB), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.Today, we had the open interest at the comex, in SILVER FELL BY A SMALL SIZED 232 CONTRACTS OI TO 131,760 AND FURTHER FROM 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 1314 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
MARCH 1314 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1314 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 232 CONTRACTS AND ADD TO THE 1314 OI TRANSFERRED TO LONDON THROUGH EFP’S,
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1082 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTAL 5.410 MILLION OZ
OCCURRED DESPITE OUR $.03 LOSS IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 8.95 PTS OR 0.31% //Hang Seng CLOSED UP 204.76 PTS OR 1.27% /The Nikkei CLOSED UP 608.14 OR 1.77% //Australia’s all ordinaries CLOSED UP 0.47% /Chinese yuan (ONSHORE) closed UP AT 7.1585 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1640 /Oil UP TO 72.84 dollars per barrel for WTI and BRENT UP AT 78.20/ Stocks in Europe OPENED MOSLY ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 340E3 CONTRACTS TO 486,446 WITH OUR LOSS IN PRICE OF $4.80 WITH RESPECT TO WEDNESDAY TRADING. WE MUST HAVE HAD ZERO LONG SPEC LIQUIDATIONS IN THE COMEX SESSION WITH MINOR SPEC SHORT COVERINGS.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF JAN..… THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS 3043 EFP CONTRACTS WERE ISSUED: : FEB 3043 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 3043 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A TINY SIZED TOTAL OF 356 CONTRACTS IN THAT 3043 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 3403 COMEX CONTRACTS..AND THIS SMALL LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $4.80 WEDNESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A MEGA MEGA GIGANTIC SIZED 31,745 CONTRACTS. (SO MUCH FOR LAW AND ORDER AT THE COMEX). 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: JAN (10.184 TONNES) ( NON 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. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707TONNES
TOTAL 2023 YEAR : 436.546 TONNES
JAN ’24. 10.184 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT LOST $4.80) //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A SMALL SIZED LOSS OF 356 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD A HUGE T.A.S. LIQUIDATION ON THE FRONT END OF WEDNESDAY’S TRADING . THE T.A.S. ISSUED ON WEDNESDAY NIGHT, WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS. WE ALSO EXPERIENCED CONSIDERABLE SPECULATOR SHORT COVERING
WE HAVE LOST A TOTAL OI OF 1.107 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JAN. (8,214 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 43,400 OZ QUEUE JUMP (1.34 TONNES): NEW TOTAL STANDING 10.184 TONNES/ ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $4.80
WE HAD – REMOVED 168 CONTRACTS TO THE COMEX TRADES TO OPEN INTEREST (CROOKS)
NET LOSS ON THE TWO EXCHANGES 356 CONTRACTS OR 35600 OZ OR 1.107 TONNES.
Estimated gold volume today:// 306,642 good //t.a.s. induced.
final gold volumes/yesterday 267,463 fair/ t.a.s. induced
//speculators have left the gold arena
JAN 10 INITIAL
/ /// THE JAN 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | NIL OZ . |
| Deposit to the Dealer Inventory in oz | nil oz |
| Deposits to the Customer Inventory, in oz | nil oz |
| No of oz served (contracts) today | 404 notice(s) 40400 OZ 1.2566 TONNES |
| No of oz to be served (notices) | 76 contracts 7600 oz 0.2364TONNES |
| Total monthly oz gold served (contracts) so far this month | 3198 notices 319,800 oz 9.947 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
total customer deposits: nil
we had 0 withdrawals
total withdrawals NIL oz
Adjustments; 1// CUSTOMER to dealer
i) Brinks 867,911.088 o
ii) Loomis 9066.582 oz (282 kilobars)
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JAN.
For the front month of JANUARY we have an oi of 480 contracts having GAINED 424 contracts. We had 10 notices served on Wednesday, so we gained 434 contracts or an additional 43,400 oz will stand for delivery at the comex
FEB LOST 25,261 CONTRACTS FALLING TO 279,839
March gained 24 contracts to stand at 327.
APRIL GAINED 20,990 CONTRACTS RISING TO 146,458.
We had 404 contracts filed for today representing 40,400 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer account and 20 notices were issued from their client or customer account. The total of all issuance by all participants equate to 404 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 354 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 JAN. /2023. contract month, we take the total number of notices filed so far for the month (3198 x 100 oz ), to which we add the difference between the open interest for the front month of JAN. (480 CONTRACTS) minus the number of notices served upon today 404 x 100 oz per contract equals 284,000 OZ OR 10.184 TONNES
thus the INITIAL standings for gold for the JAN. contract month: No of notices filed so far (3198) x 100 oz + (480) {OI for the front month} minus the number of notices served upon today (404) x 100 oz) which equals 284,000 oz standing OR 10.184 TONNES
TOTAL COMEX GOLD STANDING FOR JAN: 10.184 TONNES WHICH IS GREAT FOR AN INACTIVE DELIVERY MONTH IN THE CALENDAR.
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: 1,499,085.380 46.62 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 20,029,150.920 OZ
TOTAL REGISTERED GOLD 9,247,814.663 (287,65 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,781,336,257 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 7,748,729 oz (REG GOLD- PLEDGED GOLD) 241.018 tonnes
END
SILVER/COMEX
JAN 11/INITIAL
//2024// THE JAN 2023 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 0 oz . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 405,672.590 oz BRINKS CNT |
| No of oz served today (contracts) | 128 CONTRACT(S) (640,000 OZ) |
| No of oz to be served (notices) | 329 contracts (1,645,000 oz) |
| Total monthly oz silver served (contracts) | 694 Contracts (3,470,000 oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit
total dealer deposit: nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 2 deposits customer account:
i) Into Brinks: 345,425.200 oz
ii) Into CNT: 60,247.390 oz
total customer deposits 405,672.590 oz
JPMorgan has a total silver weight: 132.534 million oz/281.083 million or 47.15%
Comex withdrawals: 0
one adjustment customer to dealer: Asahi 605,855.700 oz
TOTAL REGISTERED SILVER: 42.517 MILLION OZ//.TOTAL REG + ELIGIBLE. 281,083 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF JAN. /2023 OI: 457 CONTRACTS HAVING LOST 6 CONTRACT(S). WE HAD 14 NOTICES SERVED ON TUESDAY, SO WE GAINED 8 CONTRACTS OR AN ADDITIONAL 40,000 OZ WILL STAND FOR DELIVERY AT THE COMEX
FEB GAINED 17 CONTRACTS TO STAND AT 720
MARCH LOST 1129 CONTRACTS TO 103,351
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 128 for 640,000 oz
Comex volumes// est. volume today 77,138// good
Comex volume: confirmed yesterday 47,516 POOR
To calculate the number of silver ounces that will stand for delivery in JAN. we take the total number of notices filed for the month so far at 694 x 5,000 oz = 3,470,000 oz
to which we add the difference between the open interest for the front month of JAN. (457) 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: 694 (notices served so far) x 5000 oz + OI for the front month of JAN. (457) – number of notices served upon today (128 )x 500 oz of silver standing for the JAN contract month equates to 5.115 MILLION OZ. to which we add our exchange for RISK of 1.0 million oz//new total 6.115 million oz/
New total standing: 6.115 million oz.
There are 42,517 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!
JAN 11/WITH GOLD DOWN $7.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD; A MASSIVE WITHDRAWAL OF 4.61 TONNES OF GOLD FROM THE GLD//://INVENTORY RESTS AT 864.99 TONNES
JAN 10/WITH GOLD DOWN $4.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD://INVENTORY RESTS AT 869.60 TONNES
JAN 9/WITH GOLD UP $0.95 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD://INVENTORY RESTS AT 869.60 TONNES
JAN 8/WITH GOLD DOWN $16.85 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A WITHDRAWAL OF 4.61 TONNES FROM THE GLD. INVENTORY RESTS AT 869.60 TONNES
JAN 5/WITH GOLD UP $0.80 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:///. // INVENTORY RESTS AT 874.21 TONNES
JAN 4/WITH GOLD UP $7.60 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:///. // INVENTORY RESTS AT 874.21 TONNES
JAN 3/WITH GOLD DOWN $29.40 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.90 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 874.21 TONNES
JAN 2/WITH GOLD UP $1.50 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.44 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 879.11 TONNES
DEC 29/WITH GOLD DOWN $10.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.16 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 880.55 TONNES
DEC 28/WITH GOLD DOWN $8.35 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 881.71 TONNES
DEC 27/WITH GOLD UP $23.25 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.01 TONNES OF GOLD INTO THE GLD///. // INVENTORY RESTS AT 880.26 TONNES
DEC 26/WITH GOLD UP $1.25 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:/. // INVENTORY RESTS AT 878.25 TONNES
DEC 22/WITH GOLD UP $17,85 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD:/. // INVENTORY RESTS AT 878.25 TONNES
DEC 21/WITH GOLD UP $5.10 TODAY: HUGE CHANGES IN GOLD INVENTORY AT THE GLD:A DEPOSIT .58 TONNES OF 2.02 TONNES OF GOLD INTO THE GLD//. // INVENTORY RESTS AT 878.25 TONNES
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: 864.99 TONNES
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
JAN 11/WITH SILVER DOWN 34 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV: // //INVENTORY RESTS AT 433.912 MILLION OZ
JAN 10/WITH SILVER DOWN 3 CENTS TODAY SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 450,000 OZ FROM THE SLV// //INVENTORY RESTS AT 433.912 MILLION OZ
JAN 9/WITH SILVER DOWN 20 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV //INVENTORY RESTS AT 434.370 MILLION OZ
JAN 8/WITH SILVER DOWN 8 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1,602,000 OZ INTO THE SLV//:././/////INVENTORY RESTS AT 434.370 MILLION OZ
JAN 5/WITH SILVER UP 20 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV A DEPOSIT OF 916,000 OZ INTO THE SLV//:././/////INVENTORY RESTS AT 435.972 MILLION OZ
JAN 4/WITH SILVER UP 5 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/:././/////INVENTORY RESTS AT 435.056 MILLION OZ
JAN 3/WITH SILVER DOWN 78 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWALOF 2.294 MILLION OZ OZ FROM THE SLV././/////INVENTORY RESTS AT 435.056 MILLION OZ
JAN 2/WITH SILVER DOWN 9 CENTS TODAY HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWALOF 915,000 OZ FORM THE SLV././/////INVENTORY RESTS AT 437.35 MILLION OZ
DEC 29/WITH SILVER DOWN 29 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/: //////INVENTORY RESTS AT 438.265 MILLION OZ
DEC 28/WITH SILVER DOWN 25 CENTS TODAY NO CHANGES IN SILVER INVENTORY AT THE SLV/: //////INVENTORY RESTS AT 438.265 MILLION OZ
DEC 27/WITH SILVER UP 20 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.374 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 438.265 MILLION OZ
THIS IS THE 3RD STRAIGHT DAY THAT THE SLV HAS ENGAGED IN WITHDRAWALS
DEC 26/WITH SILVER DOWN 14 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 1.465 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 439.639 MILLION OZ
DEC 22/WITH SILVER UP 0 CENTS TODAY:HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A WITHDRAWAL OF 2.289 MILLION OZ FROM THE SLV//////INVENTORY RESTS AT 441.104 MILLION OZ
DEC 21/WITH SILVER DOWN 2 CENTS TODAY:NO CHANGES IN SILVER INVENTORY AT THE SLV/: NO CHANGES IN SILVER INVENTORY AT THE SLV//////INVENTORY RESTS AT 443.393 MILLION OZ
DEC 20/WITH SILVER UP 28 CENTS TODAY:NO 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
CLOSING INVENTORY 434.370 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1:Peter Schiff/Mike Maharrey
END
2,c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens, John Rubino
Mathew Piepenburg…
END
3. CHRIS POWELL//GATA GOLD COMMENTARIES:
Brien Lundin: Gold outperforms everything else this century …
Submitted by admin on Wed, 2024-01-10 20:48 Section: Daily Dispatches
… But it doesn’t mean a thing.
* * *
By Brien Lundin
Publisher, Gold Newsletter / Golden Opportunities
Metairie, Louisiana
CEO, New Orleans Investment Conference
Wednesday, January 10, 2024
You may have seen the recent headlines proclaiming a World Gold Council study showing that gold has outperformed stocks and every other major asset class in this century.
Our friends at Monetary Metals have done a great job of spreading the word on this, especially through an insightful piece written by their editor, Mike Maharrey.
As Mike notes, the “Dow Jones Commodity Index Gold (DJCI) tracks the gold market using the futures index. Dating back to the turn of the century, the DJCI has produced a 7.8% annualized return, according to S&P Dow Jones Indices head of commodities Brian Luke. That compares to a 7% return for the S&P500 over the same period.”
This statistic isn’t surprising to gold bugs, but it absolutely gobsmacks the mainstream investing crowd when it’s put in front of them. I have often quoted it on social media as a rebuttal to many an anti-gold keyboard warrior’s rant. …
But then I quickly make one concession: This statistic doesn’t mean a thing. …
… For the remainder of the commentary:
END
4. OTHER GOLD/SILVER //COMMENTARIES//PODCASTS
end
5 a. IMPORTANT COMMENTARIES ON COMMODITIES /WHEAT
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT
END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
end
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP AT 7.1585
OFFSHORE YUAN: DOWN TO 7.1640
SHANGHAI CLOSED UP 8.95 PTS OR 0.31%
HANG SENG CLOSED UP 204.76 PTS OR 1.27%
2. Nikkei closed UP 608.14 PTS OR 1.77%
3. Europe stocks SO FAR: MOSTLY ALL GREEN
USA dollar INDEX UP TO 102.22 EURO RISES TO 1.0944 UP 22 BASIS PTS
3b Japan 10 YR bond yield:FALLS TO. +.587 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 145.36/JAPANESE YEN NOW RISING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP// OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund DOWN TO +2.1840***/Italian 10 Yr bond yield DOWN to 3.781** /SPAIN 10 YR BOND YIELD DOWN TO 3.128…**
3i Greek 10 year bond yield UP TO 3.234
3j Gold at $2033.50 silver at: 23.07 1 am est) SILVER NEXT RESISTANCE LEVEL AT $30.00
3k USA vs Russian rouble;// Russian rouble UP 0 AND 58 /100 roubles/dollar; ROUBLE AT 88.75//
3m oil into the 72 dollar handle for WTI and 77 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 145,36// 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.587% 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 0.8499 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9355 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: 3.986 DOWN 4 BASIS PTS…
USA 30 YR BOND YIELD: 4.171 DOWN 4 BASIS PTS/
USA 2 YR BOND YIELD: 4.344 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 30.00…(TURKEY SET TO BLOW UP FINANCIALLY)
GREAT BRITAIN/10 YEAR YIELD: DOWN4 BASIS PTS AT 3.8175
end
2.a Overnight: Newsquawk and Zero hedge.
2 B) NOW NEWSQUAWK (EUROPE/REPORT)
Initial risk appetite dented after an oil tanker is seized by “unauthorised men” leading to Crude upside; US CPI due – Newsquawk US Market Open
THURSDAY, JAN 11, 2024 – 06:13 AM
- Equities are firmer, though have been dipping lower as attention turns to US CPI and geopolitics intensify
- Oil tanker (St. Nikolas) has reportedly been boarded by Iranians in the Gulf of Oman; prompting crude upside and denting risk appetite somewhat
- Dollar is flat and Yen falls back below the 145.50 level; Kiwi outperforms benefitting from AUD/NZD cross
- Bonds bid though within ranges, benchmarks seemingly capped by energy upside ahead of US CPI
- Looking ahead, US CPI, IJC, Philly Fed Manufacturing Business Outlook Survey, Supply from US, Speak from Fed’s Barkin and Mester
More Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (+0.2%), are on the front-foot, though did dip off best levels at the cash open and have been edging lower since, potentially affected by geopols in the Gulf of Oman.
- Marks & Spencer (-5.2%) sank at the open after a trading update, anticipating higher prices in 2025; Tesco ( -0.5%) also slips after its own Christmas update.
- European sectors have a positive tilt; Basic Resources benefit from the positive risk tone. Banks in the red, hampered by lower yields, with clear underperformance in SocGen (-3.3%) and Deutsche Bank (-3.3%); both of which were subject to a cautious note at Kepler.
- US equity futures are firmer across the board, albeit to a lesser degree than their European counterparts; with mild outperformance in the NQ (+0.3%), building on yesterday’s tech-led advances and as yields tilt lower into CPI.
- Click here and here for the sessions European pre-market equity newsflow, including earnings.
- Click here for more details.
FX
- Dollar is contained within a 102.17-40 range with participants cautious ahead of US CPI; Upside target at 102.64 (10th Jan high) and downside target 102.10 (9th Jan low)
- EUR remains supported after hawkish ECB speak from Schnabel on Wednesday, where she pushed back on rate cuts.
- Yen back below 145.50 as the recent rally comes to a halt ahead of US CPI; ex-BoJ Board Member says April is the most likely time to end negative rates.
- Antipodeans are the G10 outperformers in-fitting with the broader constructive risk tone; the Kiwi performs better with the AUD/NZD cross weaker and on a 1.073 handle.
- PBoC set USD/CNY mid-point at 7.1087 vs exp. 7.1667 (prev. 7.1055).
- Click here for more details.
- Click here for the Option Expires for the NY Cut.
FIXED INCOME
- USTs are firmer into US CPI for any fresh insight around the timing for the first Fed cut; yields lower across the curve with no overt flattening/easing bias thus far.
- Bunds are bid but within ranges ahead of US CPI. Newsflow specifically for the region/complex light, but if the upside resumes, 135.71 is Wednesday’s peak before 88 from Tuesday.
- Note, the core complex generally stalled at the current session highs as geopolitical developments around the Gulf of Oman received wider coverage.
- BTPs are, once again, the EGB outperformer after stellar syndication earlier in the week drew demand of over EUR 150bln for 15bln of total issuance, though no further upside after a relatively unremarkable first outing.
- Italy sells EUR 4bln vs exp. EUR 3.75-4bln 2.95% 2027: b/c 1.48x, average yield 3.03%
- Click here for more details.
COMMODITIES
- Crude futures are firmer after geopolitical updates near the Strait of Hormuz where an oil tanker that was once at the centre of a crisis between Iran and the US has been boarded by “armed unauthorised persons” in military uniforms. WTI Feb’24 and Brent Mar’24 up to respective USD 72.86/bbl and USD 78.30/bbl peaks.
- Precious metals diverge slightly with the yellow metal underpinned by the geopolitical ongoings in the Middle East; XAU remains within recent ranges but approaches its 21 DMA (2,039.33/oz). Base Metals are modestly firmer in-fitting with the broader performance across stocks.
- Azerbaijan exported 11.8bcm of natural gas to Europe in 2023 (vs 12bcm touted by the President), according to the Energy Ministry
- Barclays lowers 2024 Brent price forecast by USD 8/bbl to USD 85/bbl; says despite the extension of voluntary OPEC+ reductions through Q1 2024, their 2024 balance estimate is largely unchanged. Maintains forecast of 300k BPD Q4-to-Q4 oil growth in 2024. Reiterate long USD 70-75/bbl call spread recommendation on the September 2024 WTI contract. Not think there was a 200k BPD surplus last year and expect a similar surplus this year. In its baseline view, Brent demand momentum picked up sequentially and non-OPEC+ supply growth decelerated sharply in 2024.
- Italy’s Industry Minister says the government plans to reverse course at ex-llva steel plant by changing crews and outlining a national steel plan
- Click here for more details.
NOTABLE EUROPEAN HEADLINES
- ECB’s de Cos said future ECB moves will depend on data but uncertainty is high and risks to economic growth are still skewed to the downside. De Cos added that the Euro area economy probably stagnated in Q4 and said the ECB must avoid insufficient and excessive tightening.
- ECB’s Villeroy says the French economy is slowing, but is more robust than feared. Confirms the 2024 growth estimate of 0.9%
- Ryanair (RYA ID) calls on the German government to cut aviation taxes/charges and lower airport charges. Could double German traffic in the next six years, if competitive charges introduced
- M&S (MKS LN) says there are some impacts from Red Sea delays, but not seeing it yet; expecting some slight delays in clothing and home deliveries from the Red Sea issues
- Maersk (MAERSKB DC) CEO has warned that it could take months to reopen the Red Sea trading route, risking economic and inflationary hits to the global economy, firms, and consumers, according to the FT
DATA RECAP
- Spanish Ind Output Cal Adj. YY (Nov) 0.8% (Prev. -1.5%, Rev. -1.4%)
- Italian Industrial Output YY WDA (Nov) -3.1% (Prev. -1.1%); Industrial Output MM SA (Nov) -1.5% vs. Exp. -0.2% (Prev. -0.2%)
NOTABLE US HEADLINES
- Fed’s Williams said the Fed’s work to bring inflation back to 2% is not done and that the Fed can cut rates when confident inflation is moving to 2% but added that the Fed will need a restrictive policy stance for some time. Williams said the outlook is still uncertain and rate decisions are to be made meeting-by-meeting and will be driven by the totality of data, while he added that risks to the economy are two-sided. Furthermore, he said the Fed is in a good place and has time to think about what’s next for rates, as well as noted that policy is still quite restrictive and Fed eventually needs to get policy back to more neutral levels.
- Reuters/Ipsos poll showed President Biden and former President Trump are tied in the 2024 US Presidential Election contest with 35% support each.
- Chris Christie (R) has pulled out of the Republican Presidential nomination race
- Ryanair (RYA ID) CEO says Boeing (BA) Max 9 issue is concerning but has no read across to Max 8 or 10, citing contact with the FAA, EASA, and Boeing.
- Alphabet (GOOG) EUR 2.42bln EU antitrust fine should be upheld by EU top court, according to Reuters citing the court adviser.
- Amazon (AMZN) did not offer EU antitrust remedies to regulators which were examining the iRobot (IRBT) deal, according to the EU Commission
- US CPI Preview can be found here
Gulf of Oman
- An oil tanker that was once at the centre of a crisis between Iran and the US has been boarded by “armed unauthorised persons” in military uniforms on Thursday morning off the coast of Oman, according to Sky News
- Earlier reports from the UKMTO said it received reports of vessel being boarded by unauthorised persons at approximately 0330 UTC; CSO reports unknown voices heard over the phone. Unable to make further contact with the vessel at this time
- Subsequently, Tanker Trackers reported that the St Nikolas tanker was boarded by Iranians in the Gulf of Oman; tanker is carrying Iraqi oil; an update which caused upside in WTI Feb’24 and Brent Mar’24 crude benchmarks.
- Most recent reports from UKMTO said CSO reported vessel in the Gulf of Oman has altered its course towards Iranian waters and communication with the vessel has been lost; Empire Navigation spokesperson said the vessel was loaded with 145k tonnes of oil loaded from Basra, Iraq
GEOPOLITICS
- Israeli officials noted the decision Israel has to take is whether to accept a deal that would end the war and withdraw from Gaza but added that Qatar’s proposal is not much different from previous proposals, according to Al Jazeera.
- IDF Chief of Staff said after the war in Gaza, the IDF will know how to fight in Lebanon if needed, according to Al Arabiya.
- US intelligence officials warned of increasing risk that Hezbollah militants could strike Americans in the Middle East and even potentially hit inside the US, according to sources cited by Politico.
- White House’s Kirby said Houthi attacks in the Red Sea are escalatory and that the US does not seek conflict, while he said they will consult with partners about the next steps if attacks continue and will do everything they can to protect shipping in the Red Sea.
- UN Security Council approved a resolution demanding Yemen’s Houthis immediately cease shipping attacks, while a Houthi spokesman said the UN resolution on navigation in the Red Sea is a political game and it is the US that is violating international law.
- An armed drone was shot down over an air base housing US forces in northern Iraq, according to Reuters sources.
- White House threw its support behind legislation that would allow the seizing USD 300bln of frozen Russian assets to help rebuild Ukraine, according to Bloomberg.
- US and China security officials discussed security issues on Wednesday including challenges in the Middle East, Russia’s war against Ukraine and cross-Strait issues, according to the White House.
- US President Biden is to send former top officials to Taipei after Taiwan’s election on Saturday in a move that could complicate efforts to stabilise Sino-US relations, according to FT sources.
- China’s Taiwan Affairs Office said Taiwan independence is incompatible with peace across the Taiwan Strait and runs counter to the interests and well-being of Taiwanese people. Furthermore, it hopes the majority of Taiwan compatriots would recognise the extreme harm of DPP’s Taiwan independence line and the extreme danger of presidential frontrunner Lai’s triggering of cross-strait confrontation.
CRYPTO
- Bitcoin (+1.6%) holds just below the USD 47k whilst Ethereum, +4.5%, continues to build on the prior day’s gains amid the SEC approving a number of spot Bitcoin ETFs.
- US SEC approved 11 spot Bitcoin ETFs, while the CBOE also approved the listing of spot Bitcoin ETFs from multiple asset managers.
- US SEC Chair Gensler said investors should remain cautious about the myriad of risks associated with Bitcoin and products with values tied to crypto. Furthermore, he said while we approved the listing and trading of certain spot Bitcoin ETP shares today, we did not approve or endorse Bitcoin.
APAC TRADE
- APAC stocks followed suit to the gains stateside despite the lack of major catalysts as markets await US CPI.
- ASX 200 climbed back above 7,500 with the index led by outperformance in financials, tech and consumer stocks.
- Nikkei 225 continued its stellar rally and broke above 35,000 for the first time since February 1990.
- KOSPI remained afloat after the BoK kept rates unchanged, as expected, while it omitted the reference regarding judging the need to raise the base rate further from its policy statement and Governor Rhee also stated they see less need for rate hikes.
- Hang Seng and Shanghai Comp were firmer as Hong Kong conformed to the positive mood with advances driven by strength in tech and autos, while the mainland somewhat lagged ahead of potential frictions from the upcoming election in Taiwan.
NOTABLE HEADLINES
- PBoC approved a total of CNY 100bln (USD 14bln) in group housing leasing loans, supporting eight pilot cities to purchase commercial properties for long-term rental purposes, according to Economic Observer.
- China took measures to facilitate foreign nationals coming to China with the easing of some visa requirements to make it easier for foreigners to travel for business, education and tourism. Furthermore, Global Times reported China’s National Immigration Administration officially implemented five new measures to facilitate foreign nationals coming to China and said foreigners with permanent residence permits in China can apply for financial services, including banking, securities, and foreign exchanges.
- US Treasury Secretary Yellen said some tariffs are appropriate to maintain and the Biden administration is focused on a China tariff review, while she added that tariffs could be made more ‘strategic’.
- BoJ is fully prepared to put an end to the world’s last negative interest rate and April is the most likely time for when it might do so, according to former BoJ board member Sakurai cited by Bloomberg.
- OECD urged for the BoJ to gradually raise short-term interest rates and continue modifying YCC policy to increase flexibility, while the OECD Secretary-General said Japan’s monetary policy can gradually and modestly begin tightening.
- BoK maintained its base rate at 3.5%, as expected, but removed the phrase “To judge the need to raise the base rate further” from its policy statement. BoK Governor Rhee said the rate decision was unanimous and sees less need for rate hikes, while he added that any premature rate cut could adversely affect the economy and it is best to wait until inflation stabilises. Rhee also stated that five board members see the terminal rate at 3.50% and most board members agreed to deploy targeted support measures to help small to medium-sized firms. Furthermore, he stated it is too early to discuss rate cuts, as well as noted that board members see no rate cuts for the next three months and see little chance of rate cuts for the next six months.
- BoJ Nagoya Branch Manager says momentum for wage increases is heightening though some small firms say they find it difficult to increase pay; there is uncertainty on the outlook for wages
DATA RECAP
- Australian Trade Balance (AUD)(Nov) 11.4B vs. Exp. 7.5B (Prev. 7.1B)
- Australian Exports MM (Nov) 1.7% (Prev. 0.4%)
- Australian Imports MM (Nov) -7.9% (Prev. -1.9%)
2C ASIA AFFAIRS
THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 8.95 PTS OR 0.31% //Hang Seng CLOSED UP 204.76 PTS OR 1.27% /The Nikkei CLOSED UP 608.14 OR 1.77% //Australia’s all ordinaries CLOSED UP 0.47% /Chinese yuan (ONSHORE) closed UP AT 7.1585 /OFFSHORE CHINESE YUAN CLOSED UP TO 7.1640 /Oil UP TO 72.84 dollars per barrel for WTI and BRENT UP AT 78.20/ Stocks in Europe OPENED MOSLY ALL GREEN// ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE STRONGER
2 d./NORTH KOREA/ SOUTH KOREA/
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
3 CHINA
CHINA
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
UK
Energy Costs In UK Still Double The Historic Average
THURSDAY, JAN 11, 2024 – 05:00 AM
Authored by Rhodri Morgan via City A.M.,
Electricity bills are set to remain double the historic average despite expected reductions in the coming months.
Figures today from energy analysis consultancy Cornwall Insights show that the average costs for 2024 will be £113 per MWh – a £16 drop from the previous forecast.
This is largely due to Europe holding higher than expected natural gas reserves.
However despite the price fall, forecasts remain substantially higher than the £50 per MWh historic averages, with Europe’s dependence on international Liquefied natural gas (LNG) following sanctions on imports from Russia, cited as a key reason.
Prices are expected to drop back down below £100 per MWh in 2025.
Evelin Blom, a modeller at Cornwall Insight, said the cuts represented “much-needed good news for UK households”.
“While this relief is welcome, Great Britain’s consumers face a long road to truly affordable energy,” she added.
“The rise in electricity demand poses a significant hurdle, and without action, threatens to keep power bills elevated until the end of the decade and beyond.”
Figures from home energy provider Aira shared exclusively with City A.M. today, show that 65 per cent of Britons will likely keep heating lower during January, with seven per cent opting to keep it off completely.
The survey of 8,068 respondents also found that one in four will also take cash for their energy bills from their typical food spend and nearly the same number drawing on cash for leisure activities (24 per cent) and clothing (22 per cent).
Also this week, Ofgem issued a word of caution to suppliers it has cleared to resume the controversial and previously-banned practice of forced meter installations.
The watchdog said an extensive list of criteria had to be met before the suppliers could action the installation.
Octopus Energy said it would not be pursuing the practice, while a Scottish Power spokesperson confirmed that it will always be a “last resort”.
END
POLAND
Polish Police Arrest Pro-Duda MPs Inside Presidential Palace As Constitutional Crisis Unfolds
THURSDAY, JAN 11, 2024 – 02:45 AM
There’s a bizarre but potentially serious constitutional crisis unfolding in Poland currently, after former Polish interior minister Mariusz Kaminski and his deputy Maciej Wonsik were arrested over allegations of abuse of power. A court has also sought to bar them from office for at least five years, a ruling which they have ignored.
The whole thing is set against the backdrop of a high-drama showdown between Poland’s new government of pro-EU Prime Minister Donald Tusk (only in office for a month now) and the now opposition Law and Justice party (PiS). Kaminski and Wonsik were actually arrested inside the presidential palace of President Andrzej Duda, ally of the previous right-wing government. PiS party supporters outside presidential palace, via Anadolu/picture alliance
PiS is calling the pair “political prisoners” after a court sentence them to two years in prison for abuse of power stemming from their stint leading an anti-corruption office in 2007. Their enemies have further charged that they’ve ‘subverted democracy’. President Duda, however, had pardoned them for the crime back in 2015 – a pardon which he says remains valid and can’t be nulled by the court’s decision.
But Tusk has called the standoff “unbelievable” – also as angry PiS supporters gathered outside the presidential palace as the arrests unfolded. Tusk’s “Civic Platform” party considers it an “equality before the law” situation for which no political official should be immune.
The other side says that pro-EU bureaucrats are wasting no time in using all the powers of the state to declare open season on anti-Brussels political enemies, however.
“There is no rulebook for the prime minister or interior minister on how to act when convicts are in the Presidential Palace. This is clearly taking advantage of a situation in which no one will use force against such an institution as the president,” Tusk said at a tense press briefing.Via CNN/Reuters: “Mariusz Kamiński & Maciej Wąsik have been barred from holding office for five years, but have essentially ignored the sentence.”
According to a BBC description of Tuesday’s events:
The Polish president said in a televised address on Wednesday that he was deeply shaken by the two men being jailed, and described them as honest.
The two MPs have been stripped of their parliamentary mandates, but both they and President Duda insist they remain legally elected MPs because of the pardon.
On Monday evening, the court issued a warrant to police to detain the men. Despite this, Mr Duda invited both to Warsaw’s Presidential Palace on Tuesday morning to attend a ceremony to swear in two of their former colleagues as presidential advisers.
Kaminski denounced efforts to undo his pardon: “We are dealing with a very serious state crisis. A grim dictatorship is being created,” he decried.
Adding to the bizarreness of the whole episode, Kaminski on Wednesday declared he’s initiating a hunger strike “as a political prisoner, from the first day of my imprisonment.” However, somewhat comically the BBC notes that “Hunger strikes are not an uncommon form of protest in Poland, and they do not necessarily mean a refusal to accept all food and liquids.”
Images of the arrest of two former high-ranking Duda officials shocked Poland’s PiS supporters…
PiS party leader Jaroslaw Kaczynski has vowed “consequences” for the political enemies driving the anti-Duda spectacle. Within the rest of the European Union, liberal technocrats are likely salivating over the prospect of Tusk going gloves off in aggressively reversing prior ‘controversial’ Duda policies.
5 RUSSIA//UKRAINE AND MIDDLE EASTERN AFFAIRS
LEBANON/ISRAEL
Israeli strike hits an emergency centre. Two members of Hezbollah killed
(Jerusalem Post)
IDF strike kills two members of Hezbollah in Lebanon
It was the first time in more than three months of cross-border shelling that an Israeli strike hit an emergency center.
By REUTERS
An Israeli strike on a civil defense center in southern Lebanon on Thursday killed two rescuers and destroyed an ambulance, according to the Hezbollah-affiliated rescue force.
Hezbollah is an Iranian-backed terror group.
The civil defence operations room at the Islamic Health Authority said that “direct Israeli bombardment on an emergency centre in the town of Hanin” killed two male unit members.
There was no immediate comment from the Israeli military.
It was the first time in more than three months of cross-border shelling that an Israeli strike hit an emergency center.
Mourners carry a coffin during the funeral of Wissam Tawil, a commander of Hezbollah’s elite Radwan forces who according to Lebanese security sources was killed during an Israeli strike on south Lebanon, in Khirbet Silem, Lebanon, January 9, 2024. (credit: REUTERS/Aziz Taher REFILE)
Previous IDF attacks
In other cases, rescuers and medics have been wounded in Israeli bombardment as they tried to reach the site of a previous strike or extract casualties.
The deaths bring to 25 the number of civilians that have been killed in Israeli shelling on southern Lebanon, including children and journalists.
At least 140 Hezbollah terrorists have also been killed there, and nine troops on the Israeli side of the border.
Hezbollah also launched rockets across the border at Israel on Thursday, as US special envoy Amos Hochstein met with Lebanese officials in Beirut in an attempt to cool tensions on the disputed frontier between Lebanon and Israel.
Jerusalem Post Staff contributed to this report.Go to the full article >>
SYRIA/ISIS
Isis (Sunnis) kills at least 14 Syrian soldiers(Shiites) in Palmyra bus attack
(the cradle)
ISIS Kills At Least 14 Syrian Soldiers In Palmyra Bus Attack
WEDNESDAY, JAN 10, 2024 – 09:00 PM
ISIS militants attacked a military bus in the Syrian desert on Tuesday, killing at least 14 Syrian army soldiers, the anti-Assad Syrian Observatory for Human Rights (SOHR) reported.
“At least 14 members of the regime forces were killed” and several others wounded “in a bloody [ISIS] attack on a military bus” in the desert near the ancient city of Palmyra, SOHR said.Getty Images
The organization has carried out few attacks in recent months but has stepped up its activities recently. ISIS also killed nine Syrian army soldiers and allied fighters in an attack on military posts in the eastern Syrian desert last week, according to the British-based monitor.
ISIS also claimed credit for a terror attack in Iran last week which killed 91 pilgrims visiting the grave of Qassem Soleimani, the Iranian general assassinated by the US in Iraq in 2020 and who spear headed the war against ISIS.
ISIS and its spin-off, Hayat Tahrir al-Sham (previously the Nusra Front), are widely viewed as Israeli-US proxies. The groups played a crucial role in sparking a war in Syria to topple the government of Bashar al-Assad and to divide Iraq for the sake of establishing an independent Kurdish state able export oil to Israel.
The terror attack in Iran came amid a broader US and Israeli campaign to target leaders of the Iran-aligned ‘Axis of Resistance’.
One day before the attack at Soleimani’s grave, Israel assassinated top Hamas leader, Saleh al-Arouri, in the Dahiyeh suburb of Beirut. On January 5, the US targeted Mushtaq Talib al-Saidi, a leader of Harakat al-Nujaba, which is part of the Islamic Resistance in Iraq and Popular Mobilization Units (PMU). On January 8, Israel assassinated a top Hezbollah commander Wissam al-Tawil in southern Lebanon.
ISIS carried out a major attack in Iran in June 2017, targeting both the Iranian Parliament and the mausoleum of Ayatollah Khomeini, killing 16.
In October 2022, ISIS militants opened fire on visitors to a important Shiite holy site in the city of Shiraz, killing at least 15 and wounding dozens.
end
end
IRAN/USA
Iran hijacks an oil tanker while Biden the Magnificent sleeps
(zerohedge)
Iran Hijacks Oil Tanker In Gulf Of Oman
THURSDAY, JAN 11, 2024 – 07:45 AM
Update:
Iranian naval forces, acting under a court order, seized Marshall Islands-flagged tanker “St Nikolas,” Bloomberg reports, citing Iran’s semi-official Tasnim agency reports. The report said St Nikolas is a “US oil tanker.”
Earlier, research firm TankerTrackers said, “Iranians have boarded today in the Gulf of Oman is the ST NIKOLAS.”
Turkish Petroleum Refineries Corp. chartered the tanker, which was transporting 140,00 tons of Iraqi SOMO crude. The vessel was en route to Aliaga in western Turkey.
* * *
The United Kingdom Maritime Trade Operations (UKMTO) authority reported hours ago a vessel was boarded by “4-5 armed unauthorized persons” about 50 miles east of Sohar, Oman.
“Unauthorized boarders are reported to be wearing military-style black uniforms with black masks. CSO reports that the vessel has altered its course towards Iranian territorial waters, and communications with the vessel have been lost,” UKMTO said.
Bloomberg confirmed that the Marshall Islands-flagged tanker “St Nikolas” is the vessel that was hijacked. A previous report says that St Nikolas was seized by the US last year, sailing under a different name, “Suez Rajan,” for transporting unauthorized Iranian cargo.
Empire Navigation, the vessel’s operator, said the tanker was loaded with 145,000 tons of crude from the Iraqi port of Basra and was en route to Aliaga in western Turkey through the Suez Canal. It noted all communication with the vessel had been lost.
St Nikolas’ Automatic Identification System (AIS), a tracking system that uses transceivers on ships to identify and locate vessels, was switched off. The vessel’s last known position was about 50 miles east of Sohar late Wednesday night.
The hijacking incident was near another chokepoint: the Hormuz Strait between Oman and Iran.
Bloomberg noted crude prices in London rose about 2%.
The incident comes right after US Navy warships shot down two dozen missiles and drones in the Red Sea. The Associated Press dubbed the Iran-backed Houthis’ attack as the “largest-ever barrage of drones and missiles targeting shipping in the Red Sea attack.”
And now the Pentagon’s Operation Prosperity Guardian mission to safeguard critical commercial shipping lanes has to worry about conflict spreading from the Red Sea to the Hormuz Strait.
END
IRAN/USA INTERESTS
Bird brain Blinken now admits Iran is behind the biggest attack targeting USA ships but he has no plan
Brilliant
(zerohedge)
Blinken Admits Iran Behind ‘Biggest Attack’ Targeting US Ships, But There’s No Plan
THURSDAY, JAN 11, 2024 – 11:05 AM
Washington has ratcheted its anti-Iran rhetoric following what’s been widely described as the single biggest Houthi missile and drone attack on vessels in the Red Sea since Oct.7.
The Tuesday night attack saw up to 24 missiles and drones sent against international shipping lanes in the southern part of the Red Sea, and crucially directly against a US warship, as we detailed previously. The Pentagon said that three destroyers that are part of Operation Prosperity Guardian took part in shooting down the incoming barrage.
Secretary of State Antony Blinken has in fresh comments charged that ultimately Iran was behind this “biggest attack” by the Yemen-based Houthi rebels. He warned “there will be consequences” if the aggression continues. “We had the biggest attack just yesterday, aided and abetted by Iran,” Blinken told reporters at Bahrain International Airport on Wednesday.Blinken in Bahrain, via Reuters
“We’ve been clear with more than 20 countries that if these continue, as they did yesterday, there will be consequences,” Blinken continued. “The support [Iran is] providing to the Houthis needs to stop. It’s not in their interest for the conflict to expand.” But he offered nothing in the way of a plan or strategy of response.
Blinken is still on his tour of Middle East countries, which earlier included meetings with Israeli leadership in Tel Aviv, in efforts to contain the spread of the Gaza War.
The US top diplomat in the comments stopped short of saying that Iranian officers are directly assisting on the ground in Yemen. Washington’s accusations against Tehran regarding the Houthis have for years highlighted indirect support, including financial, weaponry, and intelligence assistance.
Blinken said these Red Sea attacks are aided by Iran with “technology, equipment, intelligence, information, and they are having a real-life impact on people,” as cited also in VOA.
Yet the White House still doesn’t seem to have a strategy to ensure the safety of commercial transit through the Red Sea. The Biden administration has been accused of dithering and of losing deterrence, as the Houthis continue attacking with impunity, also openly boasting of targeting US Navy vessels.
For example, soon after Tuesday’s attack, The Associated Press wrote as follows:
The Houthis, a Shiite group that has held Yemen’s capital of Sanaa since 2014, later claimed responsibility for the attack in a televised statement by rebel spokesman Brig. Gen. Yahya Saree. Saree claimed the attack “targeted an American ship that was providing support to the Zionist entity,” without offering any further information. He also described it as an “initial response” to American troops sinking Houthi vessels and killing 10 rebel fighters last week.
Many observers have highlighted the current US policy Catch-22: Washington wants de-escalation in the region, but is simultaneously unwilling to seriously press Israel to implement ceasefire in Gaza…
Meanwhile the Houthis have vowed in a fresh statement to keep up and expand the attacks, per Bloomberg:
Yemen Houthi rebels “will confront US aggression” and no US attack will remain unanswered, the group’s leader Abdul Malik al-Houthi says in a televised address.
Central Command has at this point confirmed, “This is the 26th Houthi attack on commercial shipping lanes in the Red Sea since Nov. 19.” This has included the launch of multiple dozens of missiles and drones at this point. While US destroyers have intercepted many of them, the US military has yet to strike back directly on Houthi positions.
END
YEMEN/HOUTHIS
LATE IN THE DAY:
UK, US Preparing To Carry Out Offensive Strikes On Yemen’s Houthis: Reports
THURSDAY, JAN 11, 2024 – 03:05 PM
Chatter and rumors are growing on reports that the Western coalition is cobbling together a plan to go on the offensive against continuing Houthi attacks in the Red Sea… “If approved in the emergency UK cabinet meeting tonight, the military action will be in partnership with the US against Houthi forces in Yemen,” journalist Halah Jaber, formerly of the Sunday Times, has reported on X.
Additionally, al-Arabiya has reported Thursday afternoon that the US military is “stepping up its contingency plans for a response to Yemen’s Houthis in the near future” while also noting that Washington’s “multiple warnings” have failed to stop the attacks.
So far there’s been a lot of empty threats and posturing from Western defense leaders, but after at least 25 significant missile and drone attack incidents against commercial vessels and shipping lanes in the Red Sea, there’s yet to be one instance of US or UK or other coalition warships hitting back directly against Houthi launch positions.
As predicted, the Iran-aligned Houthis have only grown bolder:
The leader of Yemen’s Houthi militia vowed on Thursday to intensify assaults on ships in the Red Sea, Bab El-Mandab, and the Gulf of Aden, only hours after the UN Security Council passed a resolution requesting the Houthis to stop their attacks.
The Houthis have boldly and proudly owned up to directly targeting at least one US Navy warship, and are now vowing more:
And he reiterated threats to attack US Navy vessels more forcefully if they targeted his forces. “The retaliation to any American strike will not only be at the level of the current operation, which included more than 24 drones and multiple missiles, but will be larger,” Al-Houthi added.
The referenced Tuesday night attack was the biggest thus far of the war (since Oct.7), and the Houthis said they were specifically trying to hit a US warship amid the barrage of projectiles that also included drones.
Meanwhile a fresh op-ed in The Guardian underscores that the Houthis have already called the West’s bluff regarding to weakness that is ‘Operation Prosperity Guardian’:
But the risks of a Houthi drone getting through are potentially worse, spurring arguments in Washington that the US should take a more active approach.
“If we only sit there in a defensive posture, eventually one of these missiles or drones will get through and kill sailors,” said Michael Allen, a former White House national security policy specialist.
The Houthis can continue bleeding Western navies given they use $20,000 drones to draw a response from $1 million anti-air interceptor missiles.
The Guardian underscores that for this reason it’s “hard to see the emboldened Houthis stopping their campaign, given their access to relatively cheap missiles and drones and desire to show resistance to the west.”
Lt Richard Hecht
Setting the Record Straight on Humanitarian Aid
A new video provides the whole picture on Israel’s humanitarian efforts in Gaza
| LT. COL. RICHARD HECHTJAN 11 |
Regular readers will be familiar with my updates on the IDF’s humanitarian efforts during this war.
From calling on civilian populations to evacuate from combat zones, to facilitating the entry of thousands of tons of humanitarian aid for Gazan residents, we have been going to great lengths to mitigate harm to the civilian population while fighting against the Hamas terror organization.
Let me be clear about something: protecting civilians as far as possible in war is our moral obligation. Humanitarian measures and aid are also a strategic necessity, as they enable us to achieve our goal of targeting terrorists and separating them from civilians.
To tell this story from start to finish, we have produced a short film that we’re sharing with you here on Mission Brief.
Before we get to the film, take a moment to subscribe to get future editions of Mission Brief delivered straight to your e-mail inbox:
The film is primarily about Israel and the Gaza Strip, but it’s also about the broader Middle East and a vision of peace over terrorism.
This is a message that must be shared with the world:
I hope you found the film to be informative. Feel free to leave a comment below with your thoughts.
For more details and live updates on Israel’s humanitarian aid efforts, you can also stay updated on COGAT’s dedicated website on the issue: https://govextra.gov.il/cogat/humanitarian-efforts/
Operational Updates:
Gaza Strip:
- The IDF exposed a vast underground tunnel excavated by Hamas under the city of Khan Yunis. The tunnel was located by the Commando Unit, the Yahalom Combat Engineering Unit and Special Forces. The tunnel was connected to an extensive underground tunnel network beneath a civilian area in the city and equipped with air ventilation systems, electrical supply and plumbing. After investigating the tunnel, it can be confirmed that Israeli hostages had been inside the tunnel.
- During IDF activity in the area of Al-Maghazi, three terrorists carrying AK-47s were identified. Using an aircraft, IDF troops continuously tracked the cell, and a short while after an IAF aircraft thwarted the cell as they were exiting a tunnel shaft.
- The 5th Brigade is operating against terrorist infrastructure, launching posts and means of observation in the area of Khirbat Ikhza’a. Khirbat Ikhza’a is a dense area and consists of civilian buildings, in which Hamas built and used terrorist infrastructure. On October 7th, Hamas terrorists mobilized this terror infrastructure, set out from the Khirbat Ikhza’a area to invade Israeli territory, and attacked communities of southern Israel – including Nir Oz, Nirim and Ein HaShlosha – where they brutally murdered and abducted innocent civilians.
Northern Arena:
- On Thursday, approximately 10 launches from Lebanon toward Kiryat Shemona and Margaliot in northern Israel, three of which were intercepted.
- An IAF fighter jet and IDF artillery struck a series of Hezbollah terror targets in Lebanon, including a military post and terrorist infrastructure.
Humanitarian Aid:
- On Wednesday, a total of 208 humanitarian aid trucks were inspected and transferred to the Gaza Strip today. 89 trucks were inspected at Nitzana and transferred via the Rafah Crossing. 119 trucks were inspected and transferred via Kerem Shalom.
- Over the last few days, COGAT coordinated and facilitated a new field hospital (pictured below) in southern Gaza, operated by the International Medical Corps. With a capacity of 50 beds, personnel of 200 and comprehensive care, the hospital bolsters the medical response for civilians in Gaza
That’s all from me for today.
Thanks for reading – and watching.
Richard
end
GLOBAL VACCINE/COVID ISSUES
MARK CRISPIN MILLER
In memory of those who “died suddenly” in the United States and worldwide, January 1-January 8, 2024
Athletes in the US (7), Canada, Cuba, Brazil, UK, Poland, Serbia, Croatia, Spain (4), Italy, Egypt, Angola, Kenya, China; cops in the US (9), Jamaica, Mexico, Venezuela, UK, Poland, Italy, India; more
| MARK CRISPIN MILLERJAN 11 |
United States:
United States:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-14c
News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Canada:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-366
Mexico:
Mexico, Jamaica, Cuba, Colombia, Peru, Venezuela, Bolivia, Brazil and Argentina:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-a18
Brazil:
United Kingdom and Ireland:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-8e7
France, Belgium, Holland, Germany, Austria, Liechtenstein, Norway, Poland, Chechia, Serbia, Croatia, Portugal and Spain:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-f05
Spain:
Italy:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-953
Italy:
Egypt, Angola, Ghana, Uganda, Kenya, Zimbabwe, Namibia, S. Africa, UAE, Israel, Syria, Iran, Azerbaijan, Ukraine and Russia:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-343
India, Pakistan, Vietnam, Singapore, China, Japan, Philippines, Malaysia, Indonesia, Fiji, Australia and New Zealand:
https://open.substack.com/pub/markcrispinmiller/p/in-memory-of-those-who-died-suddenly-f37
DR PAUL ALEXANDER
BOOM! “Bill Gates has done more damage to the world’s health than probably any other individual.” ~ Professor Angus Dalgleish (professor of oncology at St George’s, University of London)
Angus Dalgleish is so correct & especially as it applies to what these criminal murderers in pharma with vaccines they pushed did (experimented with) in developing nation Africa, India, South Asia etc
| DR. PAUL ALEXANDERJAN 11 |
They, pharma, experimented and still do, on poor people with dangerous harmful research protocols, drugs, vaccines, and they kill them, and then subject them to deadly drugs and vaccines in the society…yes, poor people face the deadliest part of this fraud and question for money and power. Both at research level and societal application roll-out level.
END
SLAY NEWS
| The latest reports from Slay News |
| Canada Backs WHO’s Push for Global ‘Climate Lockdown’ PowersCanada has thrown its full support behind the World Health Organization’s (WHO) power grab that seeks to gain control over sovereign nations under its new “Global Pandemic Treaty.”READ MORE |
| ‘Unexpected’ Deaths of Young Americans Soared in 2023The number of “unexpected” deaths of young Americans soared to unprecedented levels in 2023, according to official data.READ MORE |
| Rep Clay Higgins: ‘Easily 200 FBI Undercover Assets’ Dressed as Trump Supporters on Jan 6Republican Rep. Clay Higgins (R-LA) has claimed that there were “easily 200 FBI undercover assets” dressed as supporters of President Donald Trump on Capitol Hill on January 6, 2021.READ MORE |
| Trump to Deliver Closing Argument in New York AG Letitia James’ Civil ‘Fraud’ TrialPresident Donald Trump is planning to address the court to deliver his own closing argument for New York Attorney General Letitia James’s politically motivated civil “fraud” trial against him.READ MORE |
| Nevada Judge Shuts Down Effort to Remove Trump from BallotA Nevada federal judge has rejected a case seeking to remove President Donald Trump from the state’s 2024 Republican primary ballots.READ MORE |
| NYC Students Forced into Remote Learning as High School Used to House MigrantsA New York City high school has been repurposed to house 2,000 illegal migrants, forcing students into remote learning instead.READ MORE |
| Obama Comments Pushing Illegal Alien Voting Resurface as Trump Issues Dire WarningA video of Democrat former President Barack Obama calling for illegal aliens to vote in American elections has resurfaced on social media.READ MORE |
| Demands Grow for Defense Chief Austin’s Resignation after Hospitalization Kept HiddenCalls are growing for Democrat President Joe Biden’s Defense Secretary Lloyd Austin to resign after it emerged that his hospitalization was kept hidden.READ MORE |
| Vaccine-Injured Woman Censored from Sharing Her Story with Friends on FacebookA woman, who suffered chronic health complications after receiving a Covid injection, has been censored by Facebook for trying to share her story with her friends.READ MORE |
| Melania Trump’s Mother Amalija Knavs Dead at 78Former First Lady Melania Trump’s mother Amalija Knavs has died at 78 years old, the family has announced.READ MORE |
| Black Democrat Voters Continue to Abandon Biden for 2024: ‘Everything Was Better’ under TrumpPresident Joe Biden is continuing to hemorrhage support from a key Democrat demographic – black voters.READ MORE |
| Epstein’s Brother Blows Whistle, Accuses Feds of Covering Up DeathJeffrey Epstein’s brother has spoken out to publicly accuse federal law enforcement of covering up the death of the late trafficker.READ MORE |
| Ray Epps Gets Slap on Wrist from Judge for Jan 6 Charges, No Jail TimeRay Epps, one of the key instigators of violence during the January 6, 2021, protests on Capitol Hill, has walked away from court with a slap on the wrist from the judge. Instead, suspected FBI plant Epps has been given 12 months probation, $500 in restitution, and 100 hours of community service. The soft sentence comes after most Jan. 6 …READ MORE |
EVOL NEWS
| Houthi militias launch biggest attack to date on merchant vessels in Red SeaREAD MORE… LATEST NEWS:WATCH: Journalists Caught on Hot Mic Joking About JFK-Style Trump AssassinationRead more…WEF Pushes ‘Brain Chips’ for ‘Altering Human Beings’Read more…JUST IN: Melania Trump Announces That Her Mother Has Passed Away After Extended IllnessRead more…Melania Trump announces passing of ‘beloved’ mother: ‘We will miss her beyond measure’Read more…Melania Trump’s mom, Amalija Knavs, has died at age 78: ‘My beloved…Read more…Nancy Pelosi Claims She ‘Begged’ for National Guard Troops on J6Read more…Melania Trump Makes Sad Announcement About Passing of Her MotherRead more…Donald Trump Asks When Is Fani Willis Going to Drop Georgia Case or Will it Be Dropped For Her After Alleged ‘Improper’ Romantic Relationship With Special ProsecutorRead more… |
NEWS ADDICT
| LATEST REPORTS FOR NEWS JUNKIES |
| WEF Pushes ‘Brain Chips’ for ‘Altering Human Beings’The World Economic Forum (WEF) is pushing “brain chips” technology that is designed for “altering human beings.”READ THE FULL REPORT |
| Trump Demands Fani Willis’ Georgia Case Dropped after ‘Improper’ Romantic Relationship with Special Prosecutor ExposedIn a Truth Social post today, President Donald Trump weighed in after it was revealed that Fulton County District Attorney Fani Willis has been in an alleged “improper” romantic relationship with special prosecutor Nathan Wade.READ THE FULL REPORT |
| Melania Trump Makes Sad Announcement about Passing of Her MotherFormer First Lady Melania Trump announced on Tuesday that her mother, Amalija Knavs, has died at the age of 78.READ THE FULL REPORT |
| Pelosi Claims She ‘Begged’ for National Guard Troops on Jan 6When Nancy Pelosi appeared on ABC’s Sunday morning talk show “This Week,” the former House Speaker made a dubious claim that would undoubtedly come as a surprise to many of the key decision-makers on Capitol Hill during the events of January 6.READ THE FULL REPORT |
| Illegal Aliens Take Over Brooklyn High School Gym Due to Storm, Students Forced to Attend RemotelyA high school in Brooklyn, New York has been closed for Wednesday after illegal immigrants were bussed into the gym due to a storm hitting the east coast.READ THE FULL REPORT |
LATEST REPORTS FOR NEWS JUNKIES
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
END
7//OIL ISSUES//NATURAL GAS ISSUES//ELECTRICAL GRID ISSUES// RENEWABLE ENERGY ISSUES//USA AND GLOBE
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
Unbelievable..you must see this!
Canadian Police Arrest Conservative Journalist On Trumped-Up Charge Of Assault
WEDNESDAY, JAN 10, 2024 – 07:40 PM
We have been discussing the rapid decline of free speech protections in Canada under Prime Minister Justin Trudeau.
A vivid example of the increasing authoritarian approach was evident this week with the arrest of David Menzies, a reporter for Canada’s conservative Rebel News Network. Menzies was attempting to interview Deputy Prime Minister Chrystia Freeland when her security clearly manufactured a criminal charge in front of cameras.
Menzies was attempting to ask Freeland about Canada’s refusal to label Iran’s Islamic Revolutionary Guard Corps (IGRC) as a terrorist organization.
Freeland continues to walk as Menzies attempts get an answer by walking backwards.
As he stays with Freeland, a member of the Royal Canadian Mounted Police (RCMP) stands in his way and the result is a slight bump. The officer then immediately carries out an arrest with an eventual charge that Menzies assaulted him.
BREAKING: Rebel News reporter David Menzies (@TheMenzoid) was brutally arrested by police after he tried to ask Chrystia Freeland questions.
Visit Rebel News for more on this story: https://t.co/J42ReU1MjY pic.twitter.com/5vgNotnjyy— Rebel News (@RebelNewsOnline) January 8, 2024
Trudeau has had a long running feud with Rebel News.
Last week, we discussed the irony of how a Russian dissident was denied Canadian citizenship due to a conviction in Russia for speaking against the Ukrainian war (from Canada). Since Canada has the same criminalization of speech laws, Maria Kartasheva was pulled from her ceremony pending further investigation into whether she is a criminal practitioner of free speech.
The arrest of Menzies raises the same comparison to the approach of governments like Putin’s to critics.
Note in the video below how the officer positions himself directly in the path of Menzies as he walks back with his back to the officer.
You can judge for yourself on what countries come to mind:
erohedge.com/political/canadian-police-arrest-conservative-journalist-trumped-charge-assault
erohedge.com/political/canadian-police-arrest-conservative-journalist-trumped-charge-assault
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 7;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0983 UP .0008
USA/ YEN 145.36 DOWN .355 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2786 UP .0022
USA/CAN DOLLAR: 1.3355 DOWN .0025 (CDN DOLLAR UP 25 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 8.95 PTS OR 0.21%
Hang Seng CLOSED UP 204.76 PTS OR 1.27%
AUSTRALIA CLOSED UP 0.47% // EUROPEAN BOURSE: ALMOST ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY ALL GREEN
2/ CHINESE BOURSES / :Hang SENG UP 204.76 PTS OR 1.27%
/SHANGHAI CLOSED UP 8.95 PTS OR 0.31%
AUSTRALIA BOURSE CLOSED UP .47%
(Nikkei (Japan) CLOSED UP 608.14 OR 1.77%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2036.05
silver:$23.07
USA dollar index early THURSDAY morning: 101.93 DOWN 15 BASIS POINTS FROM WEDNESDAY’s CLOSE.
THURSDAY MORNING NUMBERS ENDS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing THURSDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.936% DOWN 2 in basis point(s) yield
JAPANESE BOND YIELD: +0.592% UP 1 AND 1//100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.128 DOWN 5 in basis points yield
ITALIAN 10 YR BOND YIELD 3.800 DOWN 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.1920 DOWN 3 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR THURSDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0976 UP 0.0002 or 2 basis points
USA/Japan: 145.58 DOWN 0.142 OR YEN UP 14 basis points/
Great Britain/USA 1.2757 UP .0013 OR 13 BASIS POINTS //
Canadian dollar DOWN .0024 OR 724 BASIS pts to 1.3407
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan, CNY: closed ON SHORE CLOSED (UP) …7.1684
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1764)
TURKISH LIRA: 30.00 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.592…VERY DANGEROUS
Your closing 10 yr US bond yield DOWN 4 in basis points from WEDNESDAY at 3.994% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.185 DOWN 2 in basis points ON THE DAY/12.00 PM
USA 2 YR BOND YIELD: 4.277 DOWN 9 BASIS PTS.
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY CLOSING TIME 12:00 PM
London: CLOSED DOWN 75.17 PTS OR .98%
German Dax : CLOSED DOWN 142.78 PTS OR 0.86%
Paris CAC CLOSED DOWN 38,46 PTS OR 0.52%
Spain IBEX CLOSED DOWN 62.20 PTS OR 0.62%
Italian MIB: CLOSED DOWN 201.62 PTS OR 0.66%
WTI Oil price 72.12 12: EST
Brent Oil: 77,32 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 88.59; ROUBLE UP 0 AND 74//100
GERMAN 10 YR BOND YIELD; +2.1920 UP 2 BASIS PTS
UK 10 YR YIELD: 3.8790 UP 2 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA: 1.0961 DOWN .0014 0.0014 OR 14 BASIS POINTS
British Pound: 1.2747 UP .0003 or 3 basis pts
BRITISH 10 YR GILT BOND YIELD: 3.8790% UP 3 BASIS PTS//
JAPAN 10 YR YIELD: 0.594%
USA dollar vs Japanese Yen: 145.46 DOWN .216 //YEN UP 22 BASIS PTS//
USA dollar vs Canadian dollar: 1.3402 UP 0.0023 CDN dollar DOWN 23 basis pts)
West Texas intermediate oil: 72.10
Brent OIL: 77.62
USA 10 yr bond yield DOWN 5 BASIS pts to 3.956%
USA 30 yr bond yield DOWN 1 BASIS PTS to 4.193%
USA 2 YR BOND: DOWN 10 PTS AT 4.272%
USA dollar index: 102.17 UP 8 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 29.99 (GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 88.59 UP 0 AND 74/100 roubles
GOLD 2026.40 3:30 PM
SILVER: 22.72 3:30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 15.42 PTS OR 0.404%
NASDAQ UP 27.86 PTS OR 0.17%
VOLATILITY INDEX: 12.46 DOWN .23 PTS 1.81%
GLD: $187.87 UP .37 OR 0.20%
SLV/ $21.00 DOWN .12 OR 0.257%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Hot-flation Hammers Hope: Crypto Rips As Yield-Curve Bull-Steepens
BY TYLER DURDEN
THURSDAY, JAN 11, 2024 – 04:00 PM
Bitcoin (spot) ETFs dominated the overnight headlines as they started trading after the begrudging SEC approval last night. That sparked a large wave of buying in both the ETFs (when cash markets opened) and the underlying with both ETH and BTC soaring to cycle highs (before some profit-taking hit). Ethereum has been the big winner…
Source: Bloomberg
That erased all of Ethereum’s relative weakness to Bitcoin YTD…
Source: Bloomberg
Bloomberg’s Eric Balchinas points out that the Spot Bitcoin ETFs were a huge hit…
+0.31% MoM – 1 basis point above consensus (+0.30%) and 3 basis points hotter than November (+0.28%) – that was enough to wipe the lipstick off the goldilocks Core CPI disinflation-extrapolation narrative and spook markets back to a less-than-utopian soft-landing scenario possibility today. Additionally, initial and continuing jobless-claims both declined more than expected – adding to the ‘well, how are you going to cut rates into that’ argument.
A quick look under the hood of the S&P 500 early in the day was illustrative of this concern: sectors that benefit from a lower rate regime – Utilities and the FANGMAT complex – were underperforming; while traditionally defensive sectors including Consumer Staples and Health Care were outperforming… but that all changed as yields fell and stocks ripped back higher…
Nasdaq outperformed, battling to stay green for the last hour or so. Small Caps were the biggest loser…
FedSpeak today pushed back a little on the dovish bias we have heard recently – but not aggressively
1150ET *FED’S MESTER SAYS MARCH IS PROBABLY TOO EARLY FOR A RATE CUT
1300ET *FED’S BARKIN: NEED TO BE CONVINCED INFLATION IS STABILIZING
but, despite that and hotter CPI, rate-cut expectations soared (perhaps as traders look-ahead at higher frequency indicators of shelter, used-car costs slowing)…
Source: Bloomberg
‘Most Shorted’ stocks were hammered lower today as once again (every day in 2024) they were hit at the open. Today, the squeeze back failed to impress…
Source: Bloomberg
‘Magnificent 7’ stocks spiked at the open, tumbled and then were bid back to unchanged by the close…
Source: Bloomberg
Treasury yields were all lower on the day – tumbling hard after the initial kneejerk higher on the hot CPI. The short-end of the curve dramatically outperformed…
Source: Bloomberg
Once again all the action in 10Y pivoted around 4.00% – this time ending below it…
Source: Bloomberg
Massive yield-curve bull-steepening today lifted 2s30s to its least inverted since early November…
Source: Bloomberg
The dollar round-tripped on the day, ramping on the hit CPI then fading the rest of the day and ending lower…
Source: Bloomberg
Spot Gold prices tumbled back below $2020 on the hot CPI then bounced back (again)…
Source: Bloomberg
Oil prices managed to hold on to gains today with WTI falling back to $72 after nearing $74 (the top of its recent range)…
Source: Bloomberg
Finally, the price of stuff (CPI) – most notably food – has never – ever been higher than today…
Source: Bloomberg
…and, no matter what your politician tells you, the average joe is simply not keeping up in terms of wages…
Source: Bloomberg
Additionally, The Fed’s reverse repo facility was over $53BN withdrawn from it today to a new cycle low…
Source: Bloomberg
…tick tock for The Fed as the March expiry of BTFP (and a ‘zero’ RRP) mean QT has to taper, but can they do that without cutting rates?
END
MORNING TRADING//
end
AFTERNOON TRADING
II USA DATA
Headline CPI Hotter Than Expected In December, Food Costs Hit Record High
THURSDAY, JAN 11, 2024 – 08:42 AM
Headline Consumer Price Inflation printed hotter than expected in December, +0.3% MoM vs +0.2% exp and +0.1% prior, pushing the YoY headline CPI up to +3.4% (from +3.1% prior and hotter than the +3.2% exp)…
Source: Bloomberg
Services (Shelter mostly) costs re-accelerated and energy deflation stalled in December…
On the brighter side, core CPI rose 0.3% MoM as expected, dropping the YoY change below 4.00% (3.93%) for the first time since May 2021…
Source: Bloomberg
Goods deflation has stalled as the used cars and trucks index rose 0.5 percent over the month, after rising 1.6 percent in November.
More problematically for The Fed (and the rate-cut ‘hypers’), is the fact that Core CPI Services Ex-Shelter (SuperCore) rose 0.4% MoM, upticking the YoY rise to +4.09%…
Source: Bloomberg
This is a category that Fed Chair Jerome Powell and other policymakers have highlighted as a focus.
All the subsectors of SuperCore rose MoM with the shelter index increased 6.2 percent over the last year, accounting for over two thirds of the total increase in the all items less food and energy index.
But shelter inflation is slowing (slowly):
- Shelter inflation was up 6.15% YoY in Dec, down from 6.51% in Nov and the lowest since July 2022
- Rent inflation was up 6.47% YoY in Dec, down from 6.87% in Nov and the lowest since July 2022
And the next time someone from the Biden administration says ‘inflation is down’ in an attempt to gaslight the public into believing ‘prices are down’ – show them this chart…
- Headline costs at record highs
- Core costs are record highs
- Food costs at record highs
- Fuel costs on the rise again
Source: Bloomberg
Four of the six major grocery store food group indexes increased over the month.
The index for meats, poultry, fish, and eggs rose 0.5 percent in December, led by an 8.9-percent increase in the index for eggs.
The index for food away from home rose 5.2 percent over the last year.
The index for limited service meals rose 5.9 percent over the last 12 months, and the index for full service meals rose 4.5 percent over the same period.
The White House was quick to note that real hourly earnings was positive in December (+0.8% YoY) but that number is the aggregate of ALL American workers.
If we drill down to the ‘average joe’ – production and non-supervisory jobs – their wages are up 17% since Biden was elected… The only problem is, the cost of food since then has surged almost 21%…
Is this a pause before the re-plunge? M2 thinks so…
So what happens next?
Not so much Goldilocks perfection.
Powell is in a real pickle now – does the Fed begin shrinking QT in March (which it has to if it is terminating BTFP and Reverse Repo is drained) without starting rate cuts.
END
U.S. budget deficit swells to $129 billion in December
interest on the public debt continues on substantially higher trend
The numbers: The U.S. federal budget deficit widened to $129 billion in December, up from $85 billion in the same month last year, the Treasury Department said Thursday.
For the first three months of the fiscal year, the deficit widened to $510 billion, up from $421 billion in the same period last year.Key details: In December, spending increased at a faster pace, while receipts shrank, the department said.
Receipts were down $26 billion to $429 billion from a year ago, while outlays were up $19 billion to $559 billion.
Interest on the federal debt was up $78 billion, to $288 billion, over the first three months of the fiscal year compared with the same period a year earlier. The Federal Reserve’s rapid increase in interest rates is leading to higher interest payments.
Spending was also boosted by outlays of the Federal Deposit Insurance Corp., which were needed to resolve bank failures that occurred last year. The FDIC hopes to recover much of that amount in part through higher insurance premiums for banks.
Big picture: Economists are expressing increased alarm over the upward trend in the budget deficit. They argue that at some point, the higher spending will curtail the economy’s long-run growth potential. Government spending soared during the pandemic, but Congress has not used the relatively strong economic growth of the last few years to curb spending.
What are they saying? The federal deficit is expected to widen to be 5% of GDP in 2027, “which is huge,” said James Hines, an economics professor at the University of Michigan. In 2029, federal debt held by the public will exceed the debt level seen during World War II, he noted.
To bring down the deficit, Americans will have to pay higher taxes and get used to reduced government spending, he said. “It is a pretty ugly path,” Hines concluded during a panel discussion on the debt outlook hosted by the American Economics Association last weekend.
END
ZEROHEDGE ON SAME STORY AS ABOVE:
US Budget Deficit Soars By 50% In December As Fiscal Collapse Under Biden Accelerates
THURSDAY, JAN 11, 2024 – 03:23 PM
Remember when we showed that the “stealth” secret sauce behind Bidenomics was nothing more than a massive, multi-trillion debt-fueled spending spree, which led to the biggest peactime, non-crisis budget deficit in US history, with the total deficit for fiscal 2023 ending just over $2 trillion, or double the prior year, something which BofA’s Michael Hartnett called the “era of fiscal excess”?
Well, we have news for you: if 2023 was bad, 2024 – an election year of course – is shaping up to be far worse.
Moments ago the US Treasury reported the budget deficit picture for December and it will come as no surprise to anyone that the US has continued to spend like a drunken sailor, or rather, even more. As shown in the chart below, in the month of December, the US collected $429 billion through various taxes, while total outlays hit $559 billion…
… resulting in a December deficit of $129.4 billion.
This may not sound like a lot, but December is actually one of those months when the US deficit is relatively tame, or used to be.
As shown in the next chart, traditionally the December deficit was barely in the $10-20BN range… until 2020 when it exploded to an all time high of $140BN. And while it dropped sharply in 2021, it rebounded dramatically in 2022, and rose to just shy of the December crisis high last month!
Here is some more context: tax receipts of $429.3BN in December were down 5.6% from the $454.9BN in December 2022 and down a whopping 11.8% from December 2021. On an LTM basis, US total tax receipts were $4.521TN, or down 7.2% YoY. This is now the 9th consecutive YoY decline in LTM tax receipts, something that historically has only taken place when the US was in a recession. As an aside, the “smart economists” were certain that the collapse in tax receipts would reverse after November when the postponed California taxes would be collected. Well, November has come and gone and the big picture is just as ugly.
Looking at outlays, unlike tax receipts, there is danger of a decline… ever; and indeed in December the US spent a total of $559 billion, up 3.5% from the $540BN spent a year ago, and up even more from the $508BN in 2021. On a 6 month moving average basis, we are rapidly approaching the exponential phase even when accounting for the spending burst in 2020 and 2021.
Putting it all together, we get the scariest chart of all: the YTD budget deficit three months into fiscal 2024 is already $509 billion, which would be the biggest deficit in US history after one quarter with the exception of the covid outlier year of 2021 when the US injected multiple trillions in stimmies.
As for the final, and most shocking, data point, the December budget deficit of $129.4 billion was more than $40BN higher than the $87.5BN median estimate, and was more than 50% higher compared to the $85BN December deficit in fiscal 2022.
Needless to say, this is completely unsustainable and assures fiscal collapse for the US, not if, but when. Then again, we already knew this thanks to the CBO which was kind enough to chart the endgame:
What is funniest about all this is that the US is on an accelerating path to ruin less than one year after the imposter in the White House published this laughable propaganda.
We can’t wait to see what really happens to the budget deficit over the next 10 years. Spoiler alert: there won’t be a happy ending.
END
III USA ECONOMIC COMMENTARIES
Hertz has had enough: going back to Petro cars
(zerohedge)
Hertz Begins Dumping 20,000 EVs In Shift Back To Petrol Cars
THURSDAY, JAN 11, 2024 – 02:25 PM
In 2021, rental car company Hertz Global Holdings Inc. tapped Tom Brady to promote its massive push to electrify its fleet.
At the time, Hertz placed a huge order for 100,000 Tesla Model 3 vehicles.
Fast forward to late October, when Hertz Chief Executive Stephen Scherr told investors on a third-quarter earnings call that the company would start reducing its EV fleet because of high repair costs compared to the rest of the fleet, which has hurt its bottom line. “EV’s will be slower than our prior expectations,” he said.
In late October, Scherr told CNBC’s Jim Cramer that EVs are seeing more damage than combustion engine cars, and the cost to repair them is much higher.
According to Bloomberg, Hertz began dumping 20,000 EVs on the used car market last month and will be a seller through 2024. The sales are expected to record a non-cash charge in the fourth quarter of $245 million related to incremental net depreciation expense.
“The company expects to reinvest a portion of the proceeds from the sale of EVs into the purchase of internal combustion engine vehicles to meet customer demand,” Hertz said, adding, “The company expects this action to better balance supply against expected demand of EVs.”
As of last October, Scherr said EVs were about 11% of Hertz’s total fleet, with Tesla accounting for 80%.
The company is selling older Teslas on its website. EV blog Electrek said, “There were some nice deals available.”
Meanwhile, Hertz is selling EVs in a downturn in the used car market. This could push prices lower.
So much for Hertz’s full-scale EV adoption…
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
end
USA// COVID//VACCINE
END
SWAMP STORIES
END
THE KING REPORT
GREG HUNTER
SEE YOU ON THURSDAY
harveyorganblog.com 
