GOLD PRICE CLOSED UP $34.65 TO $2368.00
SILVER PRICE UP $0.15 TO $28.29
Gold ACCESS CLOSED $2363.10
Silver ACCESS CLOSED: $28.20
The defense of $2300 gold is now upon us and surpassed. Next up $2400 gold//Silver’s next line is $28.42. Then $34.76 …
Bitcoin morning price:$63,183 UP 821 DOLLARS.
Bitcoin: afternoon price: $60,688 DOWN 1674 dollars
Platinum price closing UP $19.90 TO $999.70
Palladium price; UP $6.90 AT $979.70
END
SHANGHAI GOLD PREMIUM 14 DOLLARS/COMEX GOLD
SHANGHAI GOLD
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 10 May 2024 05:29:53 AM CT.
Market data is delayed by at least 10 minutes.
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $3230.54 UP 24.50 CDN dollars per oz( * NEW ALL TIME HIGH 3,301.52 CDN DOLLARS PER OZ//APRIL 16 2024)
*BRITISH GOLD: 1886.25 UP 12.81 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2193.95 UP 17.62 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)
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END
EXCGE: COMEX
ACCESS MARKET
EXCHANGE: COMEX
CONTRACT: MAY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,332.100000000 USD
INTENT DATE: 05/09/2024 DELIVERY DATE: 05/13/2024
FIRM ORG FIRM NAME ISSUED STOPPED
624 H BOFA SECURITIES 1
905 C ADM 1
TOTAL: 1 1
JPMorgan stopped 0/1
FOR MAY2024
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 1 NOTICES FOR 100 OZ or 0.00311 TONNES
total notices so far: 1807 contracts for 180700 Oz (5.6205 tonnes)
FOR MAY:
SILVER NOTICES: 284 NOTICE(S) FILED FOR 1,420,000 OZ/
total number of notices filed so far this month : 5544 for 27.720 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $34.75
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 830.47TONNES
INVENTORY RESTS AT 830.47 TONNES
SLV//
WITH NO SILVER AROUND AND
SILVER UP 15 CENTS AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.828 MILLION OZ FROM THE SLV.
// INVENTORY DECREASES T0 422.227MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 422.227 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 5152 CONTRACTS TO 167,322 AND ASCENDING TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR HUGE GAIN OF $0,78 IN SILVER PRICING AT THE COMEX ON THURSDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SHORT COVERING BY OUR SPECS WITH THE GAIN IN PRICE. WE HAD ANOTHER HUGE SIZED 1360 T.A.S ISSUANCE AND THESE WILL BE USED FOR MANIPULATION LATER THIS MONTH/AS WELL AS TODAY. PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE
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 THURSDAY NIGHT: 1360 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 IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.78 AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A MEGA HUMONGOUS SIZED GAIN OF 5817 CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE OF $0.78
WE MUST HAVE HAD:
A HUGE SIZED 665 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 28.130MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S STRONG QUEUE JUMP OF 1,105,000 OZ
//NEW STANDING FOR SILVER//MAY IS THUS 28.150 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1360 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A HUGE 1783 CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS MAY ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAY
TOTAL CONTRACTS for 8 DAYS, total 4340 contracts: OR 21.700 MILLION OZ (543 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 17.550 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 111.035 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 : 78.655 MILLION OZ//
FEB /2024 : 66.135 MILLION OZ./FINAL
MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.
APRIL: 161.770MILLION OZ (THIS MONTH WILL PROBABLY BE A WHOPPER OF ISSUANCE OF EFPS//3RDHIGHEST EVER RECORDED FOR A MONTH)
MAY: 21.700 MILLION OZ (ISSUANCE WILL BE RATHER SMALL THIS MONTH/PROBABLY MATCHING FEB 2024)
RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5152 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 665 ISSUED FOR JULY 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 MAY OF 28.130 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 1.105 OZ QUEUE JUMP
//NEW TOTAL STANDING AT 28.150 MILLION OZ
WE HAVE A MEGA HUMONGOUS SIZED GAIN OF 5817 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1360 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS
THE NEW TAS ISSUANCE THURSDAY NIGHT (1360 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//PROBABLY TODAY., .
WE HAD 284 NOTICE(S) FILED TODAY FOR 1,420,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A VERY STRONG SIZED 12,668 OI CONTRACTS TO 539,853 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 297 CONTRACTS
WE HAD A VERY STRONG SIZED INCREASE IN COMEX OI (12,668 CONTRACTS) OCCURRED WITH OUR HUGE GAIN $18.25 IN PRICE/THURSDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER TO WHACK GOLD’S PRICE. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR MAY AT 4.684 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY;S 0 OZ QUEUE JUMP//NEW STANDING REMAINS AT 5.7045 TONNES
NEW STANDING 5.7045 TONNES// ALL OF THIS HAPPENED DESPITE OUR $18.25 GAIN IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A MEGA HUMONGOUS SIZED GAIN OF 19,005 OI CONTRACTS (59.26 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 6387 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 539,556
IN ESSENCE WE HAVE A MEGA HUMONGOUS SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 19,005 CONTRACTS WITH 12,668 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 6387 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 19,005 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A MEGA HUMONGOUS SIZED 31,385 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6387 CONTRACTS) ACCOMPANYING THE GAIN IN COMEX OI 12,668/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 19,005 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 MAY AT 4.684TONNES FOLLOWED BY TODAY;S 0 OZ QUEUE JUMP
//NEW STANDING /MAY 5.7045 TONNES.
/ 3) ZERO LONG LIQUIDATION WITH THE HUGE GAIN IN PRICE.
// 4) VERY STRONG SIZED COMEX OPEN INTEREST GAIN 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: MEGA HUMONGOUS T.A.S. ISSUANCE: 31,385 CONTRACTS/ HUGE SHORT COVERING BY OUR WRONG FOOTED SPECS WITH THE FED’S CONTINUAL RAID ON THE COMEX GOLD.
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
MAY
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY. :
TOTAL EFP CONTRACTS ISSUED: 36,510 CONTRACTS OR 3,651,000 OZ OR 113.56 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 4563 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 113.56 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 113.56DIVIDED BY 3550 x 100% TONNES = 3.21% 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: 291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)
FEB’24: 201.947 TONNES
MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.
APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)
MAY; 113.56 TONNES (WILL BE ANOTHER STRONG MONTH)
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 JUNE. 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 (APRIL), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A HUMONGOUS SIZED 5152 CONTRACTS OI TO 167,322 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 165 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 665 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 665 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 5152 CONTRACTS AND ADD TO THE 665 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 5817 CONTRACTS
THUS IN OUNCES, THE HUGE GAIN ON THE TWO EXCHANGES TOTALS 29.09 MILLION OZ
OCCURRED WITH OUR HUGE $0.78 GAIN IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 0.23 PTS OR 0.01% //Hang Seng CLOSED UP 425.87PTS OR 2.30%// Nikkei CLOSED UP 155.13 OR 0.41%//Australia’s all ordinaries CLOSED UP 0.36%///Chinese yuan (ONSHORE) closed UP TO 7,2248 CHINESE YUAN OFF SHORE CLOSED UP TO 7.2277/ Oil UP TO 79.82 dollars per barrel for WTI and BRENT DOWN AT 84.39 /Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A VERY STRONG SIZED 12,628 CONTRACTS TO 539,556 WITH OUR HUGE GAIN IN PRICE OF $18.25 WITH RESPECT TO THURSDAY TRADING. WE HAD ANOTHER HUGE T.A.S. LIQUIDATION YESTERDAY AS WELL AS SHORTS, DESPERATELY TRYING TO GET OUT OF THEIR NAKED SHORTS.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY.… THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A HUGE SIZED 6387 EFP CONTRACTS WERE ISSUED: : JUNE 6387 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE:6387 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A WHOPPING SIZED TOTAL OF 19,005 CONTRACTS IN THAT 6387 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A VERY STRONG SIZED GAIN OF 12,668 COMEX CONTRACTS..AND THIS HUMONGOUS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $18.25 THURSDAY 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 THURSDAY NIGHT WAS ANOTHER MEGA HUMONGOUS SIZED 31,385 CONTRACTS.(3 NIGHTS IN A ROW OF HUGE ISSUANCE) WE HAD 0 EX FOR RISK ISSUANCE. MOST OF THE TRADING AND SUPPLY OF CONTRACTS ON THURSDAY WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)
THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL 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/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: MAY (5.7045 TONNES) ( NON ACTIVE MONTH)
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 24 MONTHS OF 2021-2023:
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 = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 5.7045 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY A HUGE $18.25 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUMONGOUS SIZED GAIN OF 19,005 TOTAL CONTRACTS ON OUR TWO EXCHANGES WITH OUR HUGE GAIN IN PRICE 0F $18.25
WE HAD ANOTHER HUGE T.A.S. LIQUIDATION ON THE FRONT END OF THURSDAY’S TRADING. THE T.A.S. ISSUED ON THURSDAY NIGHT,( AND IT WAS ANOTHER DOOZY) WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.
WE HAVE GAINED A TOTAL OI OF 59.26 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR MAY (4.684 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 0 CONTRACTS OR 0 OZ ( .0000 TONNES)
NEW STANDING: 5.7045 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $18.25
WE HAVE REMOVED 297 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 19,005 CONTRACTS OR 1,900,500(59.17 TONNES)
confirmed volume THURSDAY 303,462 contracts// good
//speculators have left the gold arena
MAY 10 MAY GOLD
/ /// THE MAY 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 | 00 oz |
| Deposits to the Customer Inventory, in oz | nil |
| No of oz served (contracts) today | 1 notice(s) 100 OZ 0.00311 TONNES |
| No of oz to be served (notices) | 27 contracts 2700 OZ 0.0839 TONNES |
| Total monthly oz gold served (contracts) so far this month | 1807notices 180,700 oz 5.6205 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 deposits:
total dealer deposits: 0 oz
we have 0 customer deposits:
total deposit nil oz
total customer withdrawals: 0
TOTAL WITHDRAWALS nil 0z
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAY
For the front month of MAY we have an oi of 28 contracts having LOST 4 contracts.
We had 4 contracts served on THURSDAY, so we gained 0 contracts or NIL oz (,0.0 Tonnes).
JUNE DECREASED ITS OI BY 10,075 CONTRACTS DOWN TO 315,884 CONTRACTS.
JULY LOST 0 CONTRACTS TO STAND AT 166
We had 1 contracts filed for today representing 100 oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 1 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for the MAY /2024. contract month, we take the total number of notices filed so far for the month (1807) x 100 oz ) to which we add the difference between the open interest for the front month of MAY ( 28 CONTRACTS) minus the number of notices served upon today (1 x 100 oz per contract( equals 183,000 OZ OR 5.8095TONNES.
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (1807x 100 oz + (28 OI for the front month} minus the number of notices served upon today (1 x 100 oz which equals 183,400 oz (5.7045 TONNES)
TOTAL COMEX GOLD STANDING FOR MAY: 5.7045 TONNES WHICH IS HUGE FOR THIS A NON ACTIVE DELIVERY MONTH IN THE CALENDAR.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX84XXXXXXXXXXXXXXXXXXXXXXXXXX
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: 1,577,898.856 49.08 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,617,070.745 OZ
TOTAL REGISTERED GOLD 7,343,795.541( 228.42 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,273,275.204 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 5,766,572 oz (REG GOLD- PLEDGED GOLD)= 179.36 tonnes
179.36 tonnes/dropping like a stone
END
SILVER/COMEX
MAY 10
INITIAL
//2024// THE MAY 2025 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | . |
| Deposits to the Dealer Inventory | 247,110.549 OZ Manfra |
| Deposits to the Customer Inventory | 1,497,248.40 oz Loomis Manfra |
| No of oz served today (contracts) | 284 CONTRACT(S) (1,420,000 OZ) |
| No of oz to be served (notices) | 86 contracts (0.430 million oz) |
| Total monthly oz silver served (contracts) | 5544 Contracts (27.720 MILLION 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 Manfra :898 518.530 oz
ii) Into Loomis: 598,729.730 oz
total customer deposits 1,497,248.40 oz
JPMorgan has a total silver weight: 129,598million oz/297.869 million or 43.50%
adjustment: 2/customer to dealer
a)Manfra 3919.600 oz
b) dealer to customer: JPMorgan// 9961.09 oz
Comex withdrawals: 1
i) out of Brinks 1,061,867.710 oz
total withdrawal 1061,867.710 oz
TOTAL REGISTERED SILVER: 65.377MILLION OZ//.TOTAL REG + ELIGIBLE. 297.869 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MAY/2024 OI: 370 CONTRACTS HAVING GAINED 117 CONTRACT(S).
.
We had 174 notices served on THURSDAY so we GAINED 221 contracts or 1,105,000 oz underwent a STRONG QUEUE JUMP AS THEY WERE SET TO TAKE DELIVERY ON THIS SIDE OF THE POND.
JUNE SAW A GAIN OF 117 CONTRACTS RISING TO 1733
JULY SAW A GAIN OF 3875 CONTRACTS UP TO 136,180
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 284 for 1,420,000 oz
CONFIRMED volume; ON THURSDAY 89.857 huge
To calculate the number of silver ounces that will stand for delivery in MAY we take the total number of notices filed for the month so far at 5544 x 5,000 oz = 27.720MILLION oz
to which we add the difference between the open interest for the front month of MAY (370 and the number of notices served upon today 284x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MAY/2024 contract month: 5544 notices served so far) x 5000 oz + OI for the front month of MAY (370 number of notices served upon today minus (284x 5000 oz of silver standing for the may contract month equates to 28.150 MILLION OZ.
New total standing: 28.150 million oz.
There are 65.377 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!
MAY 10 WITH GOLD UP $34.65 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD////INVENTORY REMAINS CONSTANT AT 830.47 TONNES
MAY 9 WITH GOLD UP $18.25 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD////INVENTORY REMAINS CONSTANT AT 830.47 TONNES
MAY 8 WITH GOLD DOWN $0.90 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.72 TONNES OF GOLD INTO THE GLD//INVENTORY RISES AT 830.47 TONNES
MAY 7 WITH GOLD DOWN $6.40 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD//INVENTORY RISES AT 832.19 TONNES
MAY 6WITH GOLD UP $21.00 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF .55 TONNES IF FGOLD FROM THE GLD//INVENTORY FALLS AT 831.64 TONNES
MAY 2 WITH GOLD UP $0.20 ON THE DAY; SMAKK CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.17 TONNES IF FGOLD FROM THE GLD//INVENTORY FALLS AT 830.47 TONNES
MAY 1 WITH GOLD UP $7.80 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:INVENTORY RISES AT 832.19 TONNES
APRIL 29WITH GOLD UP $10,55TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD:INVENTORY RISES AT 832.19 TONNES
APRIL 26WITH GOLD UP $5.40TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.54 TONNES FROM THE GLD /INVENTORY RISES AT 832.19 TONNES
APRIL 25WITH GOLD UP $5.05 TODAY; NO CHANGES IN GOLD INVENTORY AT THE GLD /INVENTORY RISES AT 833,63 TONNES
APRIL 19 WITH GOLD UP $15.00 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 4.32 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 831.91 TONNES
APRIL 18 WITH GOLD UP $11.30 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE WITHDRAWAL OF 2.59 TONNES OF GOLD INTO THE GLD/ INVENTORY FALLS AT 827.59 TONNES
APRIL 17 WITH GOLD DOWN $17.60 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 830;18 TONNES
APRIL 16 WITH GOLD UP $23.10 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A MASSIVE DEPOSIT OF 1,73 TONNES OF GOLD INTO THE GLD/ INVENTORY RISES AT 828.45 TONNES
APRIL 15 WITH GOLD DOWN $. 80 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A HUGE WITHDRAWAL OF 1.80 TONNES OF GOLD INTO THE GLD/ INVENTORY FALLS AT 824.84 TONNES
APRIL 12 WITH GOLD UP $2.80 TODAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD //A DEPOSIT OF 2.29 TONNES OF GOLD INTO THE GLD/ INVENTORY RISESS AT 830.75 TONN
GLD INVENTORY: 830.47TONNES,
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MAY 10 WITH SILVER UP 15 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV;; A HUGE WITHDRAWAL OF 1.,828 MILLION OZ//INVENTORY RESTS AT 422.227 MILLION OZ
MAY 9 WITH SILVER UP 78 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 424.055 MILLION OZ
MAY 8 WITH SILVER DOWN 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 424.055 MILLION OZ
MAY 7WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 424.055 MILLION OZ
MAY 6 WITH SILVER DOWN 12 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 0.338 MILLION OZ OUT OF THE SLV INVENTORY RESTS AT 424.055 MILLION OZ
MAY 3 WITH SILVER DOWN 12 CENTS TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 0.338MILLION OZ OUT OF THE SLV INVENTORY RESTS AT 424.695 MILLION OZ
MAY 2WITH SILVER UP 0.12 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ A WITHDRAWALOF 4.471 MILLION OZ OUT OF THE SLV INVENTORY RESTS AT 424.695 MILLION OZ
MAY 1 WITH SILVER UP 0.09 TODAY: SMALLCHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF ,457 MILLION OZ INTO THE SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 29WITH SILVER UP $0.13 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 26WITH SILVER DOWN 8 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A WITHDRAWAL OF 1.097 MILLION OF SILVER INTO THE SLV// :SLV INVENTORY RESTS AT 429.814 MILLION OZ
APRIL 25WITH SILVER UP $.05 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE DEPOSIT OF 1.534 MILLION OF SILVER OUT OF THE SLV// :SLV INVENTORY RESTS AT 428.717 MILLION OZ
APRIL 24/WITH SILVER DOWN $.05 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE DEPOSIT OF 11.904MILLION OF SILVER INTO THE SLV// :SLV INVENTORY RESTS AT 428.280 MILLION OZ
APRIL 23/WITH SILVER UP $0.11TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV / :SLV INVENTORY RESTS AT 416.376 MILLION OZ
APRIL 22/WITH SILVER DOWN $1.51 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 2.194 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 416.376 MILLION OZ
APRIL 19/WITH SILVER UP 42 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.657 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 418.570 MILLION OZ
APRIL 18/WITH SILVER DOWN $.04TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.977 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 422.227 MILLION OZ
APRIL 17/WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF .868 MILLION OF SILVER FROM THE SLV// :SLV INVENTORY RESTS AT 426/204 MILLION OZ
APRIL 16/WITH SILVER DOWN $0.46 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF NON EXISTENT SILVER// :SLV INVENTORY RESTS AT 427.072 MILLION OZ
APRIL 15/WITH SILVER UP $0.88 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV :SLV INVENTORY RESTS AT 433.929 MILLION OZ
APRIL 12/WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 4.069 MILLION OZ FROM THE SLV :SLV INVENTORY RESTS AT 433.929 MILLION OZ
APRIL 11/WITH SILVER UP $0.23 TODAY: STRANGE INDEED! HUGE CHANGES IN SILVER INVENTORY AT THE SLV A MASSIVE WITHDRAWAL OF 3.931 MILLION OZ :SLV INVENTORY RESTS AT 437.998 MILLION OZ
CLOSING INVENTORY 422.227 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
PETER SCHIFF/SCHIFFGOLD/MIKE MAHARRAY
2.Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens/Alasdair Macleod
ALASDAIR MACLEOD ON YESTERDAY’S TRADING
Bear squeeze in silver and gold resumes
There is clear evidence this week of a massive bear squeeze, particularly in silver. In all likelihood, the correction in gold and silver might be over.
| MACLEODFINANCEMAY 10∙PAID |
Gold and silver had a better week, with gold up $67 from last Friday’s close at $2369 in European trading this morning, and silver at $28.60 up $2.10 over the same time frame. There was a little more volume in the Comex gold contract, but silver’s was vanishingly low, as shown below.
Most of the action was yesterday (Thursday) when a poor US jobless claims number sent gold and silver higher, and bond yields lower. This was taken by commentators to imply a greater chance of an early reduction in the Fed Funds Rate, which explains why bond yields declined. Furthermore, a successful 30-year US Treasury bond auction allayed fears of funding difficulties.
This is probably more noise in the background rather than meaningful information because jobless claims are notoriously misleading. A better clue as to what is happening is shown in the lower of the two charts above, for silver’s daily Comex volume. The clear explanation for silver’s performance is it is a bear squeeze on the shorts, rather than bullish buying.
Admittedly, there was a pickup in turnover yesterday, reflecting an increase in open interest. But that doesn’t negate the bear squeeze hypothesis. Furthermore, over 95 tonnes of silver have been stood for delivery in the first four trading days of this week, making a total of 2,312 tonnes this year so far. For reference, this is 21% of global mine output for the first five months of 2024.
The yield on the 10-year US Treasury Note is back to support levels at the 55-day moving average, as the next chart shows.
This suggests that a wise trader will look to sell bonds at current levels.
There is still delusion in markets over the outlook for interest rates, going right to the top. This week, Andrew Bailey of the Bank of England said that even though the Monetary Policy Committee held the rate at 5.25%, he thought with inflation coming down that the Bank would cut rates earlier than expected. What Bailey and the establishment investment cohort don’t yet realise is that it is foreign holders of sterling who ultimately set sterling’s interest rate agenda, as they do for the dollar. If they sell dollars they won’t be buying sterling. And there’s little doubt that they are net sellers of dollars.
Despite this week’s successful 30-year T-bond auction, with foreigners certain to turn away from dollars let alone duration risk the US debt trap is bound to drive rates higher along the yield curve. And those investors seeking solace in prospective inflation numbers are ignoring the continuing effect of the US’s enormous budget deficit on the dollar’s purchasing power.
The Peoples Bank of China is still selling dollars for gold. And Chinese speculators realise this, with enhanced activity on the Shanghai Futures Exchange. We know the Chinese to be avid speculators, and analysts assume that they will have to unwind their positions, leading eventually to a fall in the gold price. I will make two comments: Chinese punters know what the PBOC is doing and why, and these speculators can continue to buy, even to the point when western bullion banks are driven into bankruptcy.
END
MISES…
As The Dollar Falters, Gold Becomes Insurance, Not Speculation
FRIDAY, MAY 10, 2024 – 07:20 AM
Authored by Douglas French via The Mises Institute,
Economics trumps sentimentality, and gold’s elevated price has some people raiding the family jewelry box to pay bills.
“Young people are not wearing grandma’s jewels. Most of the young people, they want an Apple watch. They don’t want a pocket watch,” Tobina Kahn, president of House of Kahn Estate Jewelers told Bloomberg.
“Sentimental is now out the door.”
When times are tough, treasures change hands, the late Burt Blumert, once a gold dealer and Mises Institute Board Chairman, used to say.
“Prices are high, and I need cash,” Branden Sabino, a thirty-year-old information technology worker said, adding that with the cost of rent, groceries, and car insurance rising, he doesn’t have any savings. He sold a gold necklace and a gold ring to King Gold and Pawn on Avenue 5 in Brooklyn.
“People are using gold as an ATM they never had,” said store owner Gene Furman.
At King Gold, fifty-five-year-old Mirsa Vijil pawned a bracelet to pay her gas bill.
“Gold is high,” she said, adding she’d never pawned her jewelry before but will do it again if she needs to.
Adrian Ash, director of research at online gold investment service BullionVault says there is twice as much selling as a year ago on BullionVault’s platform. “People are very happy to take this price.”
“It’s very busy and we are getting more calls than ever before about clients wanting to bring in their jewels,” Kahn said.
“I’m telling the clients to bring them in now, as we are at unprecedented levels.”
So while there is plenty of liquidating to pay the bills, demand at the United States Mint is tepid, with sales in March the worst since 2019 for its American Eagle gold coin.
It turns out more than a few of those well-publicized Costco gold bar buyers are having trouble selling them. The bars, not being American Eagles or other similar gold coins, are not as liquid, given that the seller, Costco, will not buy them back. The Wall Street Journal reports, thirty-three-year old Adam Xi called five different gold dealers to get a price he would accept for the gold bar he bought at Costco in October.
He was offered $200 less by one dealer than the $2,000 he had paid. But he found a Philadelphia coin dealer near his home willing to pay $1,960, or twenty dollars under market price.
Mr. Xi has learned, or should have learned, that buying gold to turn a quick profit is a fantasy. His plan was to rack up credit-card points buying the gold and then quickly resell it for a profit.
Buyers can expect their gold to immediately lose around 5 percent of its value, according to Tom Graff, chief investment officer at the wealth advising company Facet. One pays a premium to buy and pays fees to sell.
“You need a holding period that’s long enough to overwhelm that cost,” said Graff.
Luke Greib told the Wall Street Journal that he sold a one-ounce Credit Suisse bar on a Reddit page dedicated to trading precious metals to avoid taxes and fees.
Buying physical gold is purchasing insurance against monetary mischief by the Federal Reserve, not to earn a profit via a quick flip.
Perhaps it’s hard to imagine currency destruction so devastating that your gold would serve as not only a store of value but a medium of exchange. Peter C. Earle explains in a piece for the American Institute for Economic Research, “During the peak of its 2008 hyperinflation, [Zimbabwe] experienced a catastrophic economic downturn, characterized by the issuance of billion—and trillion-dollar banknotes that were, despite their nominal enormity, virtually worthless.”
Dr. Earle writes that twenty-eight years of inflation “topped a total 231 million percent” and “the ZWD was demonetized in 2009.” The government is making its sixth attempt at a new currency, Zimbabwe gold (ZiG). “ZiG is there to stay forever,” said Vice President Constantino Chiwenga. “This bold step symbolizes government’s unwavering commitment to the de-dollarization program premised on fiscal discipline, monetary prudence and economic revitalization.”
Reportedly, ZiG “is backed by a basket of precious metals including about 2.5 tons of gold along with $100 million of foreign currency reserves held by the central bank.” As always, the Zimbabwe authorities are already blaming speculators for price increases. “Speculators should cease,” Chiwenga said. “Behave, or you get shut down or we lock you up.”
Dr. Earle has his doubts about whether the Zimbabwean authorities will maintain the ZiG backing with the required rigor. While he hopes for success, “Without fundamental changes guaranteeing private property protection, pro-market reforms, and safeguards against corruption, though, the ZiG is likely to retrace the unfortunate steps of its predecessors.”
The reason to buy and hold gold is just in case the Federal Reserve goes the way of Zimbabwe.
3. CHRIS POWELL//GATA DISPATCHES
a must view…
Physical demand is breaking gold and silver manipulation, Eric Sprott says
Submitted by admin on Fri, 2024-05-10 02:17 Section: Daily Dispatches
1:19p ICT Friday, May 10, 2024
Dear Friend of GATA and Gold (and Silver):
Mining entrepreneur Eric Sprott, interviewed this week by the TF Metals Report’s Craig Hemke on Sprott Money’s “Ask the Expert” program, says demand from China and India for real metal is starting to break the longstanding Western-based manipulation of gold and silver prices.
Many people, Sprott says, are realizing that “currencies aren’t to be trusted” anymore. He believes that declines in the major gold and silver exchange-traded funds do not signify investor selling but rather shorting raids by bullion dealers exchanging the shorted ETF shares for real metal so they can meet some very inconvenient demands for delivery.
Sprott says he is most bullish about silver and again credits silver market analyst Ted Butler of Butler Research for his many years of work exposing silver market manipulation.
While he feels that major gold producers “have failed us,” Sprott says intermediate and small gold mining companies are showing signs of life and have great potential and soon will attract much more interest. The last bull run in the monetary metals, he notes, produced mining share gains of hundreds of percent.
Hemke’s interview with Sprott is 32 minutes long and can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS /LIVE FROM THE VAULT
Episode 172
Posted 10th May 2024
“The Evolution of Money” Feat. Robert Kiyosaki
In this week’s episode of Live from the Vault, Andrew Maguire is joined by world-renowned “Rich Dad, Poor Dad” author, Robert Kiyosaki. Andrew and a returning Robert discuss the changing global economy and how to preserve wealth.
The precious metals experts examine massive, ongoing Indian & Chinese silver demand and delve deeper into the sound money movement, before proclaiming the Kinesis ecosystem to be the evolution of money.
Andrew
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT//COPPER
Visualizing The Copper Investment Opportunity In One Chart
THURSDAY, MAY 09, 2024 – 08:40 PM
Copper is essential for clean energy applications such as solar panels, wind turbines, and electric vehicles (EVs), as well as for expanding electrical grids.
The surge in demand for the metal, driven by the growing adoption of these technologies, presents a unique investment opportunity for early investors in copper mining companies.
Visual Capitalist’s Bruno Venditti introduces this chart by Sprott exploring the growing gap between copper supply and demand until 2050, based on projections from BloombergNEF’s Transition Metals Outlook 2023.
Projected Copper Supply vs. Demand
Copper is naturally abundant on Earth, but extracting the metal at the pace necessary for an electrified economy could be a challenge. The timeline for bringing a copper mine from discovery to production is lengthy, averaging over 16 years.
Top producers like Chile and Peru are facing strikes and protests, along with declining ore grades. Russia, ranked seventh in copper production, faces an expected decline in production due to the ongoing war in Ukraine.
Meanwhile, the increasing adoption of carbon-free technology only highlights copper’s significance.
High Demand for Transport and Electricity Grid
The demand for copper in the transport sector is projected to increase by 11.1 times by 2050, from 2022. EVs, for example, can contain more than a mile of copper wiring.
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END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
END
ASIA TRADING
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 0.23 PTS OR 0.01% //Hang Seng CLOSED UP 425.87PTS OR 2.30%// Nikkei CLOSED UP 155.13 OR 0.41%//Australia’s all ordinaries CLOSED UP 0.36%///Chinese yuan (ONSHORE) closed UP TO 7,2248 CHINESE YUAN OFF SHORE CLOSED UP TO 7.2277/ Oil UP TO 79.82 dollars per barrel for WTI and BRENT DOWN AT 84.39 /Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.2248
OFFSHORE YUAN: DOWN TO 7.2272
SHANGHAI CLOSED UP 0.23 PTS OR 0.01 %
HANG SENG CLOSED UP 425/87 PTS OR 2.30%
2. Nikkei closed UP 155.13 PTS OR 0.41 %
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 105.13 EURO FALLS TO 1.0781 DOWN 7 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +.898 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 155.73 JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: 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 YIELD DOWN TO +2.4650/Italian 10 Yr bond yield DOWN to 3.790 SPAIN 10 YR BOND YIELD DOWN TO 3.249%
3i Greek 10 year bond yield DOWN TO 3.479
3j Gold at $2377.70//Silver at: 28.72 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 37 100 roubles/dollar; ROUBLE AT 92.32
3m oil into the 79 dollar handle for WTI and 84 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 155.73/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.898% 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 0.9063 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9773 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.453 UP 0 BASIS PTS…
USA 30 YR BOND YIELD: 4.597 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.815 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.24…(TURKEY)
10 YR UK BOND YIELD: 4.140 DOWN 4 PTS
2a New York OPENING REPORT
US Futures, Global Markets Storm Higher, Eye All-Time Highs
FRIDAY, MAY 10, 2024 – 08:15 AM
US equity futures pointed to even more gains on the last day of trading, leaving the S&P 500 set for a third weekly rise — the longest run since February. The rally was given fresh legs yesterday by more earnings optimism coupled with disappointing economic data – this time the highest initial jobless claims since last August – that supported the case for Fed rate cuts, but the real test will come with a key US inflation print next week (where we laid out a case for why as OER catches down to real-time rates, CPI may print a big miss). As of 8:00am, S&P 500 futures higher by 0.3% after the index closed less than 1% away from its all-time high, with Nasdaq futures rising 0.4%. European stocks are up 0.9% set for a new record high with Asian stocks also gaining. Treasuries and the dollar were flat; earlier on Friday, the yuan weakened on the news that Biden’s administration is poised to unveil a sweeping decision on new China tariffs as soon as next week, with the measures expected to focus on industries such as electric vehicles, batteries and solar cells, with existing levies largely being maintained. The macro slate includes May preliminary University of Michigan sentiment and April monthly budget statement.
In premarket trading, 3M Co. rose 1.2% in premarket trading after HSBC raised its recommendation to buy from hold. The bank notes the company’s earnings showed nascent signs of an “inflection in growth and margin gains from restructuring” at the manufacturing giant. Akamai fell 10% after its forecast for adjusted earnings per share for the second quarter missed the average analyst estimate. Analysts note weakness in the infrastructure software company’s content-delivery network business. Here are some other notable premarket movers:
- Bumble rises 3.1% as BofA upgrades the online dating company to buy from neutral on both valuation and upside to growth.
- CRH gains 4.3% after what the analysts see as a positive start with performance driven by pricing, early-season activity and favorable weather in important markets, despite lower volumes in Europe.
- Dutch Bros gains 2.6% after Cowen raises the drive-thru coffee chain’s rating to buy from hold, expecting that 2024 will be a “beat & raise year.”
- Ginkgo Bioworks slumps 11% after the genetic engineering company cut its revenue forecast for the full year, following first-quarter sales that fell short of Wall Street’s expectations. The miss and outlook cut triggered a downgrade at William Blair.
- JFrog drops 12% as the software development company’s earnings report failed to impress investors after this year’s rally. The results could prompt questions around the timing and potential contribution from AI-led workloads, which didn’t appear to have much effect this quarter, Bloomberg Intelligence analyst Sunil Rajgopal wrote in a research note.
- MacroGenics sinks 68% after the drug developer reported five deaths in a mid-stage trial of its investigative therapy for prostate cancer. Analysts downgraded their ratings on the stock as confidence in the firm’s program takes a hit following the safety data.
- Natera rises as much as 20% after boosting its revenue guidance for the full year.
- Novavax surges as much as 217% after the vaccine maker signed a licensing agreement with Sanofi that includes commercializing a combined Covid-19 and flu shot.
- Progyny drops 25% after it reported first quarter revenue below average analyst estimates and cut revenue guidance for the full year. KeyBanc analysts downgraded the fertility benefits management company to sector weight from overweight, writing that they “are becoming weary” as more questions arise on visibility into revenue and customer trends.
- SoundHound AI rises 15% after the voice AI software company reported first-quarter revenue that beat expectations and gave a revenue outlook range for the full year that met the average analyst estimate.
- Sweetgreen climbs 19% after the salad restaurant chain’s revenue topped estimates and it boosted its same-store sales forecast for the full year.
- Unity Software falls as much as 4.2% after the video-game software development company reported an 8% drop in first-quarter revenue. Analysts say the shares will remain rangebound until the company’s new CEO crystallizes his own strategy.
- Yelp drops 4.1% after it adjusted Ebitda guidance for the full year and missed the average analyst estimate. Macro headwinds for restaurants and growing competition from delivery platforms could also pressure the online review company’s revenue, according to Jefferies analysts.
The rebound in stocks found fresh momentum from very poor US unemployment claims Thursday, which backed the case for rate cuts before next week’s key US inflation print. Meanwhile, so-called value and cyclical sectors are helping to broaden out a rally that had been fueled by tech giants. Traders will be watching for hints on the timing of policy easing from Fed officials including Michelle Bowman and Neel Kashkari before next week’s CPI data.
“A rally of the laggards is our key allocation call, and so far, we’re witnessing signs that it’s happening,” said Florian Ielpo, head of macro research at Lombard Odier Asset Management. “For this to persist, the market needs to maintain a delicate balance — a sweet spot where the job market remains mildly soft and earnings growth continues.”
European stocks are set for their best week since the end of January on a slew of better-than-expected earnings reports and growing confidence that interest rate cuts are still possible this year. The Stoxx 600 rises 0.9% to a record high with mining, utility and construction shares leading gains. Here are the biggest European movers:
- Enel shares rise as much as 3.5% after 1Q earnings came in materially above expectations, de-risking the utility firm’s full-year outlook and suggesting it could deliver the top end of its guidance.
- Munich Re shares rise as much as 2.6% after BofA lifts its rating on the company to buy from neutral in a note citing “underappreciated earnings strength.”
- Legrand shares advance as much as 3.3% to highest since January 2022 after Citi double-upgrades to buy from sell.
- EDP shares climb as much as 4.6% after the company said investment will decelerate in 2024-2026 as it focuses on “top projects.”
- IAG shares climb as much as 1.8% after the airline group posted a operating profit beat for the first quarter, driven by ongoing recovery in leisure traffic and the timing of Easter.
- Fluidra shares gains as much as 5.5% after JPMorgan upgrades the Spanish pool maker to overweight from neutral.
- Iveco shares rise as much as 7.1% following its first-quarter results, which Morgan Stanley says represent a positive start to the year for the Italian commercial vehicle maker.
- CCC shares jump as much as 19% after the Polish fashion retailer reported strong 1Q preliminary earnings with a 39% beat on Ebitda.
- Dino Polska shares drop as much as 4.4% after it reported further erosion of Ebidta margin, reflecting an ongoing price war in the Polish food retail market.
- Rightmove shares fall as much as 5.3%. The online property portal reiterated its revenue and margin guidance after tweaking other targets.
- Getinge shares drop as much as 9.7%, the most in more than three months, following a US FDA letter to health care providers expressing safety and quality concerns about some of the Swedish medical technology firm’s cardiovascular devices.
- BFF Bank shares plunge as much as 32%, the most on record, after Bank of Italy ordered a temporary halt on profit distribution and expansion abroad as a result of a probe into the Italian specialty finance company.
Asian stocks tracked the gains in the US where a rise in initial jobless claims spurred a dovish reaction. Hang Seng & Shanghai Comp traded mixed with Hong Kong stocks surging on reports China is considering a proposal to exempt individual investors from paying dividend taxes on Hong Kong stocks bought via the Stock Connect, while the mainland faded its initial gains with the US reportedly set to impose tariffs on China EVs and key sectors after a review which could be announced as soon as next week. Nikkei 225 rallied at the open but then slipped from intraday highs with participants reflecting on Household Spending data, US-China and tensions and amid a busy day of earnings releases for Japan. ASX 200 was led by energy, telecoms and financials but with gains capped amid mixed consumer stocks.
In FX, the Bloomberg Dollar Spot Index steadied and Treasury yields were little changed across the curve as traders awaited commentary from several Fed officals; Sterling rose after a much stronger than expected UK GDP print, which saw the country emerge from recession, provided a modicum of support to the pound which is up 0.1% against the dollar. The Norwegian krone tops the G-10 FX pile, rising 0.3% after CPI topped estimates.
- USD/NOK dropped 0.3% to 10.8155 as the Norwegian krone led G-10 gains against the dollar; Norway’s underlying inflation rate fell less than analysts expected last month
- AUD/USD fell as much as 0.3% to 0.6599, while NZD/USD dipped as much as 0.3% to 0.6014, on a report that the US is poised to unveil a sweeping decision on China tariffs
- GBP/USD inched up as much as 0.1% to 1.2541, after data showed the UK economy bounced back from a shallow recession
In rates, treasuries are little changed with futures holding Thursday’s advance, underpinned by gains for gilts following UK data raft including GDP, manufacturing and industrial production. US yields are within 1bp of Thursday’s closing levels, 10-year around 4.46%, with gilts and bunds outperforming by 2bp and 3bp in the sector; curve spreads likewise little changed, 2s10s holding Thursday’s flattening move. Gilts have rallied despite stronger-than-expected UK GDP figures, with UK 10-year yields falling 3bps to 4.11%.
In commodities, Oil prices advance, with WTI rising 0.6% to trade near $79.80 a barrel and near the week’s high. Spot gold climbs 1.1% to around $2,372/oz.
Looking at today’s calendar, the US economic data slate includes May preliminary University of Michigan sentiment (10am New York time) and April monthly budget statement (2pm). Fed officials’ scheduled speeches include Bowman (9am), Logan (10am), Kashkari (10am, 2:15pm), Goolsbee (12:45pm, 2:15pm) and Barr (1:30pm)
Market Snapshot
- S&P 500 futures up 0.3% to 5,254.00
- STOXX Europe 600 up 0.7% to 520.47
- MXAP up 0.8% to 177.68
- MXAPJ up 0.9% to 554.50
- Nikkei up 0.4% to 38,229.11
- Topix up 0.5% to 2,728.21
- Hang Seng Index up 2.3% to 18,963.68
- Shanghai Composite little changed at 3,154.55
- Sensex up 0.2% to 72,580.19
- Australia S&P/ASX 200 up 0.4% to 7,748.96
- Kospi up 0.6% to 2,727.63
- German 10Y yield little changed at 2.46%
- Euro little changed at $1.0783
- Brent Futures up 0.2% to $84.02/bbl
- Gold spot up 0.9% to $2,367.89
- US Dollar Index little changed at 105.23
Top Overnight News
- Stocks rallied on earnings optimism and US data that supported the case for interest-rate cuts. A raft of Federal Reserve speakers are slated for Friday as traders await a key US inflation print next week.
- President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.
- Britain bounced back strongly from a shallow recession, providing some relief for Prime Minister Rishi Sunak who has so far struggled to deliver on his promise to grow the economy.
- Money managers are piling into the European Union’s bonds in anticipation of a major shift in their status that would open up the bloc’s debt to a bigger pool of investors.
- JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade despite some “teething issues,” according to the firm’s global head of index research.
- China CPCA said China sold 1.55mln passenger cars in April, -5.8% Y/Y; Tesla (TSLA) exported 30,746 China-made vehicles in Apr
- US Treasury Secretary Yellen said inflation has come down substantially but is not where it needs to be, according to a Marketplace interview.
- White House is poised to nominate Kristin Johnson to fill a top role at the Treasury overseeing banks, according to Bloomberg citing sources.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks mostly tracked the gains in the US where a rise in initial jobless claims spurred a dovish reaction. ASX 200 was led by energy, telecoms and financials but with gains capped amid mixed consumer stocks. Nikkei 225 rallied at the open but then slipped from intraday highs with participants reflecting on Household Spending data, US-China and tensions and amid a busy day of earnings releases for Japan. Hang Seng & Shanghai Comp traded mixed with Hong Kong stocks surging on reports China is considering a proposal to exempt individual investors from paying dividend taxes on Hong Kong stocks bought via the Stock Connect, while the mainland faded its initial gains with the US reportedly set to impose tariffs on China EVs and key sectors after a review which could be announced as soon as next week.
Top Asian News
- US is set to impose tariffs on China EVs and key sectors after its Section 301 review as early as next week, according to Bloomberg.
- China is unlikely to lift home purchase restrictions completely, according to CCTV.
- Honda (7267 JT) FY (JPY): Pretax profit 1.64tln, +86.7% Y/Y, Op. Profit 1.38tln, +77% Y/Y; says it will buy back of up to 3.7% of own shares worth JPY 300bln.
- Earthquake felt in Taiwan’s capital Taipei; magnitude 5.7, via EMSC.
- China Auto Industry CPCA says market sluggishness was worse than expected while some automakers still derived to produce and resulted in rising inventories at dealerships
European bourses, Stoxx600 (+0.7%) are entirely in the green, taking the lead from a mostly positive APAC session. Both the FTSE 100 and the DAX 40 made fresh ATHs today. European sectors hold a strong positive tilt, with the exception of Autos and Media, with the former continuing the losses seen in the prior session. Utilities takes the top spot, lifted by post-earning strength in Enel (+3.6%) and EDP (+2.5%). US Equity Futures (ES +0.3%, NQ +0.3%, RTY +0.4%) are entirely in the green, albeit modestly so, attempting to build on yesterday’s advances.
Top European News
- UBS expects the BoE to start cutting interest rates in June (prev. expected Aug)
- Over one in two firms with Germany’s residential construction sector reported a lack of orders in April, via Ifo; 55.2% (prev. 56.2%) reported this
FX
- Steady trade for the USD after yesterday’s data-induced losses dragged DXY to a low of 105.20. Uni. of Michigan is the main data highlight but is very much in the shadow of next week’s CPI print. If DXY trundles lower once again, support ahead of the 105 mark comes via the 7th May low at 105.03.
- EUR is steady vs. the USD with EZ drivers once again lacking in today’s session. EUR/USD made an incremental high at 1.0786 but catalysts today for a push beyond 1.08 are not obvious. ECB Minutes due at 12:30 BST / 07:30 EDT.
- GBP is the marginal best performer across the majors following hotter-than-expected UK GDP metrics which sent GBP/USD higher from 1.2519 to a 1.2540 peak before running into resistance at the 200DMA.
- USD/JPY’s ascent has once again continued after a brief blip yesterday in a week that has seen jawboning from officials fail to stop the rot. The next inflection point will likely be US CPI data.
- Antipodeans are both marginally softer vs. the USD after benefitting yesterday from the dollar’s post-data selling pressure. AUD/USD remains on a 0.66 handle in quiet newsflow with the monthly high at 0.6647.
- NOK: A slightly hotter than expected CPI which has sparked some modest NOK strength, sending EUR/NOK lower from 11.6940 to 1.6820.
- PBoC set USD/CNY mid-point at 7.1011 vs exp. 7.2102 (prev. 7.1028).
- CNB Minutes (May): Easing process could be paused/terminated at any point at still restrictive levels. Holub & Frait mentioned the possibility of 75bp of easing, ultimately went for 50bp
Fixed Income
- USTs are flat with specifics light thus far though the docket ahead is packed with multiple Fed speakers. USTs are holding at 109-03+ matching yesterday’s auction-driven high but still a handful of ticks shy of the WTD peak at 109-09.
- Gilts gapped higher by 15 ticks despite hawkish direction from the strong UK GDP numbers earlier in the morning. Upside which has continued and extended to a 98.29 fresh WTD high as markets digest the BoE beginning to thread-the-needle to a first cut in the near term.
- Bunds are bid but to a slightly lesser degree than Gilts with specifics light thus far. Upside which has paused at a 131.40 peak shy of 131.63-86 from earlier in the week.
- Italy sells EUR 9.25bln vs exp. EUR 7.5-9.25bln 2.95% 2027, 1.10% 2027, 3.45% 2031, 5.00% 2040, 2.15% 2072 BTP.
- Orders for Italy’s BTP Valore reach EUR 11bln (circa. EUR 10bln on Thursday). Books close at 12:00BST
Commodities
- Crude benchmarks in the green but only modestly so as markets await an update to the Israel-Hamas situation after hostage negotiations ended and Israel pledged to continued with its operation in Rafah. Brent July off best levels and currently resides around USD 84.20/bbl.
- Precious metals are supported and seemingly benefitting from the modestly bullish tone for fixed income thus far. XAU up to a USD 2370/oz peak thus far, eclipsing the 21-DMA of USD 2337/oz with ease and bringing USD 2400/oz and then USD 2431/oz into view.
- Base metals are firmer, lifted by the broader risk tone and somewhat softer Dollar; though Aluminium is the standout laggard after a sizeable LME stock update of +424k (prev. -2.75k).
- Saudi’s crude oil supply to China to fall by 5.8mln/bbl in June vs May, via Reuters citing sources.
- LME Stocks: Aluminium +424k (prev. -2.75k)
Geopolitics
- Israeli PM Netanyahu said they have destroyed 20 of Hamas’s 24 battalions so far and hopes he and US President Biden can overcome disagreements, while he added that they have to defeat Hamas in Rafah.
- Israel’s army reportedly carried out bombing operations on buildings east of Rafah in the southern Gaza Strip, according to Al Jazeera.
- US State Department said Secretary of State Blinken confirmed to his Egyptian counterpart US President Biden’s “clear” position not to support the Rafah operation, according to Al Arabiya.
- US Secretary of State Blinken is expected to submit Israel conduct report to Congress today and is expected to criticise Israel but say it isn’t breaking weapons terms, according to Axios.
- Group of 20 US Senators introduced a bill that would restrict funding to the UN or any organisation that gives the Palestinian Authority higher than observer status, according to Asharq News.
US Event Calendar
- 10:00: May U. of Mich. Sentiment, est. 76.2, prior 77.2
- 10:00: May U. of Mich. Current Conditions, est. 79.0, prior 79.0
- 10:00: May U. of Mich. Expectations, est. 75.0, prior 76.0
- 10:00: May U. of Mich. 1 Yr Inflation, est. 3.2%, prior 3.2%
- 10:00: May U. of Mich. 5-10 Yr Inflation, est. 3.0%, prior 3.0%
- 14:00: April Monthly Budget Statement, est. $250b, prior $176.2b
Central Bank Speakers
- 09:00: Fed’s Bowman Speaks on Financial Stability Risks
- 10:00: Fed’s Logan Participates in Moderated Q&A
- 10:00: Fed’s Kashkari Participates in Q&A
- 12:45: Fed’s Goolsbee Speaks in Moderated Q&A
- 13:30: Fed’s Barr Gives Commencement Speech
- 14:15: Fed’s Kashkari, Goolsbee on CNBC
DB’s Jim Reid concludes the overnight wrap
Risk assets posted further gains yesterday, thanks to growing confidence that central banks would still cut rates this year. In part, that was because of the weekly initial jobless claims in the US, which hit an 8-month high and added to fears that the labour market was cooling further. But alongside that, the Bank of England announced their latest policy decision, where Governor Bailey said it was “ likely that we will need to cut bank rate over the coming quarters ”. So this all cemented the theme that global monetary policy was heading towards a less restrictive stance, not least after the Riksbank’s rate cut earlier in the week. The next hurdle will be the US inflation numbers for April next week, but so far this month at least, investors have moved to expect a more dovish stance of monetary policy than they thought would happen at the end of April.
This trend was very helpful for equities, with several European indices up to new records yesterday, including the STOXX 600 (+0.19%), the FTSE 100 (+0.33%) and the DAX (+1.02%). Indeed, it marked a 5th consecutive advance for all three indices, and it leaves the DAX on track for its best weekly performance since November, having risen by +3.81% since the start of this week. Meanwhile in the US, the S&P 500 (+0.51%) was up to a 5-week high, and the index remains on track for a third consecutive weekly gain for the first time since February. On top of that, it’s also been the strongest performance for the S&P 500 over 6 sessions so far this year, having advanced by +3.90% since its recent low on May 1. The gains for the S&P 500 were broad-based with 10 of 11 industry groups higher on the day, and came even as the Magnificent 7 (-0.07%) was weighed down by losses for Nvidia (-1.84%) and Tesla (-1.57%).
That jobless claims data was the initial catalyst for the advance yesterday, and up until that point, S&P 500 futures had actually been in negative territory. The release showed that initial jobless claims were up to 231k (vs. 212k expected) in the week ending May 4, which was their highest level since late-August, and above every economist’s estimate on Bloomberg. But even though the data was weaker than expected, it meant investors grew more confident that the Fed would still cut rates this year, as it added to recent prints suggesting the labour market could be cooling. For instance, last week’s data showed job openings were down to a 3-year low in March, whilst the broader U6 measure of unemployment (which includes the underemployed and those marginally attached to the labour force) rose to its highest in over two years in April, at 7.4%.
But even with the uptick in jobless claims, this isn’t necessarily a leading indicator of a downturn. For instance, there was a previous spike last year, which pushed the 4-week average above 250k by late-June. But after that, the numbers came down again shortly afterwards, and there wasn’t a notable rise in the unemployment rate. And for the time being at least, the smoother 4-week average is still only at 215k, so it’s important to bear in mind that lots of other indicators are still looking more positive, and the Atlanta Fed’s GDPNow indicator is suggesting that Q2 growth will come in at an annualised +4.2% rate.
This belief in future rate cuts was supported by the Bank of England’s latest decision as well. The main headline was that they kept rates unchanged at 5.25%, in line with expectations. But unlike the March meeting, when the vote was 8-1 to keep rates on hold, there was now a 7-2 split after Deputy Governor Ramsden also voted for a cut. Moreover, there was an additional line in the statement, which said that the committee would “consider forthcoming data releases and how these inform the assessment that the risks from inflation persistence are receding.” Then in the press conference, Governor Bailey said that a cut at the next meeting in June was “neither ruled out nor a fait accompli ”, and he suggested that the reductions in bank rate could be “possibly more so than currently priced into market rates”. There are two more CPI prints coming out ahead of the BoE’s next decision, so those will be in focus ahead of that, and this morning we’ve also got the Q1 GDP release shortly after we go to press.
Overall, the decision and these comments led investors to price in a growing probability of a rate cut by the next BoE meeting in June, with overnight index swaps raising the chance from 55% the previous day to 60% by the close. Front-end gilts also rallied on the prospect of faster rate cuts, with the 2yr yield coming down by -5.7bps. 10yr gilts did lose a bit of ground, with yields up +0.2bps, but that was actually an outperformance relative to the rest of Europe, where yields on 10yr bunds (+3.3bps), OATs (+4.3bps) and BTPs (+3.7bps) all saw larger moves higher.
Meanwhile in the US, Treasuries outperformed after the jobless claims data led futures to dial up the likelihood of rate cuts this year. For instance, 46bps of cuts were priced in by the December meeting at the close, up +1.9bps relative to the previous day. In turn, the 2yr yield was down -2.1bps to 4.82%. And 10yr yields were down -4.1bps to 4.45%, with long-dated Treasuries supported by a solid 30yr auction that saw the highest direct bidder share since July.
Overnight in Asia, this strength for risk assets has broadly continued, with the Hang Seng (+1.74%) rising to its highest level in almost nine months, whilst the Nikkei (+0.24%) and the KOSPI (+0.60%) have also advanced. The exception to this has been in mainland China, where the CSI 300 (-0.28%) and the Shanghai Comp (-0.22%) have both lost ground, which comes as a Bloomberg report said that the US would announce new tariffs on China. The report cited people who said an announcement was scheduled for Tuesday, and there would be a focus on strategic sectors including electric vehicles. Elsewhere, US equity futures are also positive this morning, with those on the S&P 500 up +0.09%.
To the day ahead now, and data releases include the UK GDP reading for Q1, Italian industrial production for March, Canadian employment for April, and in the US there’s the University of Michigan’s preliminary consumer sentiment index for May. From central banks, we’ll hear from the Fed’s Bowman, Logan, Kashkari, Goolsbee and Barr, the ECB’s Cipollone and Elderson, and the BoE’s Pill and Dhingra. We’ll also get the account from the ECB’s April meeting.
2B European Opening Report
Equities firmer, GBP benefits post-GDP ahead of a slew of Fed speakers & ECB Minutes – Newsquawk US Market Open
FRIDAY, MAY 10, 2024 – 05:46 AM
- European bourses extend to session highs, whilst US futures post modest gains
- Dollar is flat & GBP marginally outperforms post-GDP
- USTs are flat, EGBs bid though to a lesser degree than Gilts, which have shrugged off hawkish GDP data
- Crude is firmer with specifics light, XAU extends to highs and base metals benefit from the risk tone
- Looking ahead, Canadian Jobs Data, BoC SLOOS, Chinese Money Supply, Comments from ECB’s Elderson, BoE’s Pill, Fed’s Goolsbee, Bowman, Logan, Kashkari & Barr.
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (+0.7%) are entirely in the green, taking the lead from a mostly positive APAC session. Both the FTSE 100 and the DAX 40 made fresh ATHs today.
- European sectors hold a strong positive tilt, with the exception of Autos and Media, with the former continuing the losses seen in the prior session. Utilities takes the top spot, lifted by post-earning strength in Enel (+3.6%) and EDP (+2.5%).
- US Equity Futures (ES +0.3%, NQ +0.3%, RTY +0.4%) are entirely in the green, albeit modestly so, attempting to build on yesterday’s advances.
- Click here and here for the sessions European pre-market equity newsflow.
- Click here for more details.
FX
- Steady trade for the USD after yesterday’s data-induced losses dragged DXY to a low of 105.20. Uni. of Michigan is the main data highlight but is very much in the shadow of next week’s CPI print. If DXY trundles lower once again, support ahead of the 105 mark comes via the 7th May low at 105.03.
- EUR is steady vs. the USD with EZ drivers once again lacking in today’s session. EUR/USD made an incremental high at 1.0786 but catalysts today for a push beyond 1.08 are not obvious. ECB Minutes due at 12:30 BST / 07:30 EDT.
- GBP is the marginal best performer across the majors following hotter-than-expected UK GDP metrics which sent GBP/USD higher from 1.2519 to a 1.2540 peak before running into resistance at the 200DMA.
- USD/JPY’s ascent has once again continued after a brief blip yesterday in a week that has seen jawboning from officials fail to stop the rot. The next inflection point will likely be US CPI data.
- Antipodeans are both marginally softer vs. the USD after benefitting yesterday from the dollar’s post-data selling pressure. AUD/USD remains on a 0.66 handle in quiet newsflow with the monthly high at 0.6647.
- NOK: A slightly hotter than expected CPI which has sparked some modest NOK strength, sending EUR/NOK lower from 11.6940 to 1.6820.
- PBoC set USD/CNY mid-point at 7.1011 vs exp. 7.2102 (prev. 7.1028).
- CNB Minutes (May): Easing process could be paused/terminated at any point at still restrictive levels. Holub & Frait mentioned the possibility of 75bp of easing, ultimately went for 50bp
- Click here for more details.
- Click here for OpEx details.
FIXED INCOME
- USTs are flat with specifics light thus far though the docket ahead is packed with multiple Fed speakers. USTs are holding at 109-03+ matching yesterday’s auction-driven high but still a handful of ticks shy of the WTD peak at 109-09.
- Gilts gapped higher by 15 ticks despite hawkish direction from the strong UK GDP numbers earlier in the morning. Upside which has continued and extended to a 98.29 fresh WTD high as markets digest the BoE beginning to thread-the-needle to a first cut in the near term.
- Bunds are bid but to a slightly lesser degree than Gilts with specifics light thus far. Upside which has paused at a 131.40 peak shy of 131.63-86 from earlier in the week.
- Italy sells EUR 9.25bln vs exp. EUR 7.5-9.25bln 2.95% 2027, 1.10% 2027, 3.45% 2031, 5.00% 2040, 2.15% 2072 BTP.
- Orders for Italy’s BTP Valore reach EUR 11bln (circa. EUR 10bln on Thursday). Books close at 12:00BST
- Click here for more details.
COMMODITIES
- Crude benchmarks in the green but only modestly so as markets await an update to the Israel-Hamas situation after hostage negotiations ended and Israel pledged to continued with its operation in Rafah. Brent July off best levels and currently resides around USD 84.20/bbl.
- Precious metals are supported and seemingly benefitting from the modestly bullish tone for fixed income thus far. XAU up to a USD 2370/oz peak thus far, eclipsing the 21-DMA of USD 2337/oz with ease and bringing USD 2400/oz and then USD 2431/oz into view.
- Base metals are firmer, lifted by the broader risk tone and somewhat softer Dollar; though Aluminium is the standout laggard after a sizeable LME stock update of +424k (prev. -2.75k).
- Saudi’s crude oil supply to China to fall by 5.8mln/bbl in June vs May, via Reuters citing sources.
- LME Stocks: Aluminium +424k (prev. -2.75k)
- Click here for more details.
DATA RECAP
- UK GDP Estimate MM (Mar) 0.4% vs. Exp. 0.10% (Prev. 0.10%, Rev. 0.2%); YY 0.7% vs. Exp. 0.30% (Prev. -0.20%, Rev. 0.0%). Click here for more details.
- UK GDP Prelim QQ (Q1) 0.6% vs. Exp. 0.4% (Prev. -0.3%); YY 0.2% (Prev. -0.2%)
- Italian Industrial Output MM SA (Mar) -0.5% vs. Exp. 0.3% (Prev. 0.1%); Industrial Output YY WDA (Mar) -3.5% (Prev. -3.1%)
- *Norwegian Core Inflation YY (Apr) 4.4% vs. Exp. 4.3% (Prev. 4.5%)**; Consumer Price Index YY (Apr) 3.6% vs. Exp. 3.5% (Prev. 3.9%)
- Hungarian CPI YY (Apr) 3.7% vs. Exp. 3.7% (Prev. 3.6%)
NOTABLE EUROPEAN HEADLINES
- UBS expects the BoE to start cutting interest rates in June (prev. expected Aug)
- Over one in two firms with Germany’s residential construction sector reported a lack of orders in April, via Ifo; 55.2% (prev. 56.2%) reported this
NOTABLE US HEADLINES
- China CPCA said China sold 1.55mln passenger cars in April, -5.8% Y/Y; Tesla (TSLA) exported 30,746 China-made vehicles in Apr
- US Treasury Secretary Yellen said inflation has come down substantially but is not where it needs to be, according to a Marketplace interview.
- White House is poised to nominate Kristin Johnson to fill a top role at the Treasury overseeing banks, according to Bloomberg citing sources.
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu said they have destroyed 20 of Hamas’s 24 battalions so far and hopes he and US President Biden can overcome disagreements, while he added that they have to defeat Hamas in Rafah.
- Israel’s army reportedly carried out bombing operations on buildings east of Rafah in the southern Gaza Strip, according to Al Jazeera.
- US State Department said Secretary of State Blinken confirmed to his Egyptian counterpart US President Biden’s “clear” position not to support the Rafah operation, according to Al Arabiya.
- US Secretary of State Blinken is expected to submit Israel conduct report to Congress today and is expected to criticise Israel but say it isn’t breaking weapons terms, according to Axios.
- Group of 20 US Senators introduced a bill that would restrict funding to the UN or any organisation that gives the Palestinian Authority higher than observer status, according to Asharq News.
CRYPTO
- Bitcoin is incrementally firmer and resides just below USD 63k, whilst Ethereum reclaims USD 3k.
APAC TRADE
- APAC stocks mostly tracked the gains in the US where a rise in initial jobless claims spurred a dovish reaction.
- ASX 200 was led by energy, telecoms and financials but with gains capped amid mixed consumer stocks.
- Nikkei 225 rallied at the open but then slipped from intraday highs with participants reflecting on Household Spending data, US-China and tensions and amid a busy day of earnings releases for Japan.
- Hang Seng & Shanghai Comp traded mixed with Hong Kong stocks surging on reports China is considering a proposal to exempt individual investors from paying dividend taxes on Hong Kong stocks bought via the Stock Connect, while the mainland faded its initial gains with the US reportedly set to impose tariffs on China EVs and key sectors after a review which could be announced as soon as next week.
NOTABLE ASIA-PAC HEADLINES
- US is set to impose tariffs on China EVs and key sectors after its Section 301 review as early as next week, according to Bloomberg.
- China is unlikely to lift home purchase restrictions completely, according to CCTV.
- Honda (7267 JT) FY (JPY): Pretax profit 1.64tln, +86.7% Y/Y, Op. Profit 1.38tln, +77% Y/Y; says it will buy back of up to 3.7% of own shares worth JPY 300bln.
- Earthquake felt in Taiwan’s capital Taipei; magnitude 5.7, via EMSC.
- China Auto Industry CPCA says market sluggishness was worse than expected while some automakers still derived to produce and resulted in rising inventories at dealerships
DATA RECAP
- Japanese All Household Spending MM (Mar) 1.2% vs. Exp. -0.3% (Prev. 1.4%); YY -1.2% vs. Exp. -2.4% (Prev. -0.5%)
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
end
3 CHINA
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
Now who would have thought that this would happen?
(WATSON)
Foreign Migrants Account For Nearly 6 In 10 Violent Crime Suspects In Germany
FRIDAY, MAY 10, 2024 – 05:00 AM
Authored by Paul Joseph Watson via Modernity.news,
Foreign migrant suspects are responsible for nearly 6 in 10 violent crimes in Germany according to new figures released by the federal government.
Despite comprising roughly 14.6 per cent of the population, foreign migrants were responsible for 58.5 per cent of all violent crimes.
Foreigners without a German passport make up 111,517 suspects alleged of violent crimes out of the total 190,605 suspects for the country as a whole.
The statistics were released by the Federal Criminal Police Office and reported by broadcaster NTV.
The number of non-Germans suspected of violent crimes rose by 14.5 per cent over the previous year, while foreign migrants also account for 187,000 out of the total 424,000 suspected thieves.
“Excluding immigration crimes, the number of non-Germans suspected of any crime rose by 17.8 per cent in 2023 to 923,269 suspects, representing nearly half of the 2.25 million total suspected criminals last year,” reports Breitbart.
NTV tried to justify the criminality of foreign migrants by asserting that they have experienced violence in their homes countries, which “lower(s) the threshold for using violence.”
Notably, the figures don’t include foreign migrants who later obtained German citizenship or those with a foreign migration background via one of their parents.
Andrea Lindholz, a member of the Bundestag parliament for the centre-right Christian Social Union (CSU) party, said Germany is reaching its “limit” in its “ability to integrate” migrants, adding that integration comes with a high cost.
As we highlight in the video above, there is now majority opposition to mass migration amongst Germans, despite the establishment demonizing those who hold such views as right-wing extremists.
The German government previously vowed to increase deportations of foreign criminals after a huge increase in migrant crime.
The anti-mass migration AfD is the second biggest party in Germany and the most popular amongst young people, but the federal government is trying to ban it in the name of ‘preserving democracy’.
* * *
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL/HAMAS///RAFAH/
UPDATES..THIS MORNING
IDF kills terrorists and find more tunnel shafts.
(Jerusalem Post)
Closing in on Rafah: IDF troops kill terrorists, find tunnel shafts
In the area of the Rafah crossing, on the Palestinian side, troops of the 401st Brigade killed terrorists in close-quarter combat and via aircraft strikes.
By JERUSALEM POST STAFFMAY 10, 2024 10:09Updated: MAY 10, 2024 10:40
In the past day, troops of the 162nd Division and Givati Brigade operated in the Eastern part of Rafah in the Gaza Strip, where they found underground tunnel shafts, the military said on Friday.
In the area of the Rafah crossing, on the Palestinian side, troops of the 401st Brigade eliminated terrorist squads in close-quarter combat and via aircraft strikes.
The IDF added that Israel Air Force aircraft were also used to strike several areas in Rafah, from which rockets and mortar shells had been launched onto Israeli territory, including the Kerem Shalom crossing.
Shortly after the IDF published this statement, sirens sounded in two localities in the Gaza Border Communities. No injuries or damage were reported at this time.
Later on Friday, sirens sounded twice in Kerem Shalom, following which the military said two launches from the area of Rafah had been identified and successfully intercepted.
IDF operates in Zeitoun to destroy terror infrastructure
In parallel, the IDF said troops of the Nahal Brigade and the 2nd Brigade carried out activities in Zeitoun in the center of the Strip.
Soldiers destroyed terror infrastructure and eliminated terrorists in the area. In addition to the ground activities, the military stated fighter jets had struck terrorists and Hamas terror targets. Of particular note was a booby-trapped building in which many weapons.
In addition, throughout the Gaza Strip, fighter jets also struck Hamas targets, such as buildings used for anti-tank fire and tunnel shafts.
In the center of the strip, IDF troops identified a terror squad exiting a weapon warehouse and moving toward them. The squad was subsequently attacked by an aircraft. However, shortly after, the storage facility and an additional terrorist from the squad were attacked by fighter jets and helicopters.
The IDF said that in total, in the past day, IAF jets and aircraft struck and destroyed some 40 terror targets throughout the Strip. The targets included military buildings, terror squads, observing positions, and additional military infrastructure.
END
ISRAEL/GAZA/RAFA THIS AFTERNOON
Four IDF soldiers killed as battles rage across Gaza; tanks said to advance into Rafah
Security cabinet said to approve measured expansion of op in southern part of Strip, risking clash with Biden; dozens of gunmen killed in fighting, tunnels found
By EMANUEL FABIAN FOLLOW
and AGENCIESToday, 6:26 pm
(Clockwise from top left) Sgt. Itay Livny, Sgt. Yosef Dassa, Sgt. Daniel Levy and Sgt. Ermiyas Mekuriyaw who were killed in fighting in the Gaza Strip on May 10, 2024 (Israel Defense Forces)
Four Israeli soldiers were killed and several wounded as fierce battles raged across the Gaza Strip on Friday, while Hamas fired rockets at the southern city of Beersheba for the first time since December, lightly injuring a woman.
Israeli tanks reportedly advanced on a main road dividing the eastern and western halves of southern Gaza’s Rafah on Friday, amid heavy clashes taking place in the area, as well as in Gaza City in the north of the Strip.
The four soldiers were killed in Gaza City’s Zeitoun neighborhood. According to an initial IDF probe, they were hit by an explosive device or devices in an alleyway.
The troops had been raiding a school complex where the military had indications of Hamas activity. Weaponry and at least one tunnel were discovered in the area of the school.
The IDF has returned several times to the Zeitun neighborhood since the war’s outbreak, as Hamas has managed to regroup in areas previously cleared by the army.
The soldiers were identified as Sgt. Itay Livny, 19, from Ramat Hasharon; Sgt. Yosef Dassa, 19, from Kiryat Bialik; Sgt. Ermiyas Mekuriyaw, 19, from Beersheba and Sgt. Daniel Levy, 19, from Kiryat Motzkin. All four were from the Nahal Brigade’s 931st Battalion.
IDF soldiers under the Givati Brigade stand atop a tank in eastern Rafah in the southern Gaza Strip, in a handout picture released on May 10, 2024. (Israel Defense Forces)
Another officer and soldier of the 931st Battalion were seriously wounded in the same incident.
Their deaths bring the toll of slain troops in the IDF’s ground offensive in Gaza and amid operations on the border to 271.
Separately, another two soldiers of the 401st Armored Brigade’s 9th Battalion were seriously wounded by RPG fire on a tank in the Rafah area of southern Gaza.
When the Israel Defense Forces launched its operation in eastern Rafah late Monday, it said troops had captured part of the Salah a-Din road, along with the Rafah Crossing to Egypt.
According to a report by Reuters, it appeared that tanks had pushed further along the road on Friday, although still within a zone that the IDF ordered to be evacuated.
Residents described almost constant explosions and gunfire east and northeast of the city, with intense fighting between Israeli forces and operatives of the Hamas and Islamic Jihad terror groups.
Hamas claimed to have ambushed Israeli tanks near a mosque in the east of the city, a sign the IDF had penetrated several kilometers from the east to the outskirts of the built-up area of the city.
The Israeli military said Friday that it had killed dozens of gunmen as it continued to operate in eastern Rafah, as well as in Gaza City’s Zeitoun neighborhood.
IDF soldiers under the Nahal Brigade operate in Gaza City’s Zeitoun neighborhood, in a handout picture released on May 10, 2024. (Israel Defense Forces)
Israel ordered civilians out of the eastern outskirts of Rafah earlier this week. The military has estimated that around 150,000 Palestinians in the east Rafah area have evacuated already.
Around a million more Palestinians, who fled other parts of the enclave during the war, remain in the city itself, and they have not been called to evacuate yet as the operation remains limited in scope amid hostage negotiations with Hamas.
Still, the security cabinet voted on Thursday night to approve a “measured” expansion of the IDF’s operation in Rafah, Hebrew media reported
The expansion was deemed as measured in what Israel hopes will not cross the line into what the United States deems as a “major operation.”
US President Joe Biden warned earlier this week that he would halt certain offensive weapons shipments to Israel if it entered into the population centers of Rafah due to concerns over the one million-plus civilians sheltering there.
The Axios news site cited two sources who say the expansion will be limited enough so as to not upset the Biden administration, while a third source warned the moves could be interpreted by the US as a step too far.
The security cabinet also voted to instruct Israel’s hostage negotiating team to continue its efforts to try and reach a hostage deal by putting together a new proposal in the hopes of reaching a breakthrough, Axios reported.
Far-right ministers Itamar Ben Gvir and Bezalel Smotrich voted against the decision but were outnumbered.
Prime Minister Benjamin Netanyahu, second right, leads a weekly cabinet meeting in Jerusalem on April 17, 2024. (Maayan Toaf / GPO)
In east Rafah, troops of the Givati Brigade located several tunnel shafts and killed dozens of gunmen, and the 401st Armored Brigade killed several more gunmen in close-quarters combat and by calling in airstrikes in the area of the Rafah Crossing with Egypt, the IDF said Friday.
The military also said the Air Force and 215th Artillery Regiment carried out several strikes in Rafah over the past day, targeting sites used by Hamas to launch rockets and mortars at troops and at Israel.
Rockets on Beersheba
Also Friday, five rockets were launched from the Gaza Strip at the southern city of Beersheba, according to the IDF. One was intercepted by the Iron Dome while the other four hit open areas, it said.
A 37-year-old woman was lightly wounded by shrapnel, the Magen David Adom ambulance service said, adding that the woman was taken to Soroka Hospital for treatment.
Magen David Adom medics treat a woman lightly wounded by shrapnel from a Gaza rocket attack targeting Beersheba on May 10, 2024. (Magen David Adom)
The shrapnel also caused some damage to a city park. It was not immediately clear if it was caused by a direct impact or a large fragment that fell and caused the damage.
Hours later, a second barrage nine rockets were launched from Rafah Beersheba. The IDF said all nine rockets struck open area.
Hamas claimed the second barrage too.
The last time rockets were fired from at Beersheba, some 40 kilometers (25 miles) from Gaza, was in December.
Several mortars and rockets were also launched from the Rafah area at the southern border communities of Sufa, Kerem Shalom and Nir Yitzhak and at troops in Gaza on Friday.
Some of the rockets were intercepted by the Iron Dome, as sirens sounded in the border towns.
IDF troops operate in eastern Rafah in the southern Gaza Strip, in a handout image released May 8, 2024. (Israel Defense Forces)
Meanwhile, in Zeitoun, where the IDF launched a pinpoint operation early Thursday, the military said fighter jets struck several gunmen and Hamas sites, including a booby-trapped building.
The IDF reported that in recent days, Nahal troops killed several gunmen, including by calling in airstrikes, as well as captured weapons and intelligence materials in the Zeitoun area.
In central Gaza’s Netzarim Corridor, the IDF said reservists of the Yiftah Brigade spotted a cell of gunmen leaving a known weapons depot and moving toward the forces, before calling in an airstrike against them. The weapons depot and another operative in the area were targeted in separate strikes, the military said.
More than 40 more targets, including tunnels, anti-tank missile launch positions, buildings, observation posts and other infrastructure were struck by the Air Force in other areas of Gaza, the IDF adds.
Smoke billows from Israeli strikes in Rafah in the southern Gaza Strip on May 9, 2024. (AFP)
In an unusual incident in southern Gaza on Friday, twelve soldiers were hurt after being stung by wasps, the military said. The incident occurred amid an operation by the Gaza Division’s Southern Brigade in the border area, near the Israeli community of Nirim.
A tank had driven over a large wasp nest, leading thousands of insects to sting the troops. One of the soldiers was listed in moderate condition, and the other 11 were lightly hurt, the IDF said. They were taken to a hospital in Israel for treatment.
The war in Gaza erupted after Hamas’s October 7 attacks, which saw some 3,000 terrorists burst across the border into Israel by land, air and sea, killing some 1,200 people and seizing 252 hostages, mostly civilians, many amid acts of brutality and sexual assault.
The ensuing war has killed over 34,800 Palestinians, according to Gaza health officials, though data issued by the Hamas-run authorities cannot be independently verified, and is believed to include both civilians and Hamas members killed in Gaza, including as a consequence of terror groups’ own rocket misfires.
Israel has said it has killed some 15,000 terror operatives in Gaza, in addition to some 1,000 terrorists inside Israel on October 7, while 267 soldiers have been killed during the ground offensive against Hamas and amid operations along the Gaza border.
ISRAEL/GAZA/
If American troops are situated on the Pier at Gaza’s shore, Hamas will attack them.
and the world applauds these bozos
(zerohedge)
First Shipment Of Gaza Aid For US-Built Pier Departs Cyprus, UN Claims “Full-Blown Famine”
THURSDAY, MAY 09, 2024 – 05:20 PM
The US military has reportedly completed building the off-shore pier for Gaza humanitarian aid deliveries, but it has yet to be anchored to Gaza’s shore that this crucial part of the process has been held up due to inclement weather in the eastern Mediterranean.
“As of today, the U.S. military has completed the off-shore construction of the Trident pier section, or the causeway, which is the component that will eventually be anchored to the Gaza shore,” Pentagon deputy press secretary Sabrina Singh told reporters Thursday.
“Today there are still forecasted high winds and high sea swells, which are causing unsafe conditions for the JLOTS components to be moved, so the pier sections and military vessels involved in its construction are still positioned at the Port of Ashdod,” she added.
Cyprus’ foreign ministry on the same day announced that the first vessel carrying humanitarian aid to be offloaded on the newly US-constructed pier is en route.
It comes two full months after President Biden first unveiled the plan for the US Army to construct a pier. “The US vessel, loaded with much needed humanitarian assistance, departed from the Larnaca port with the aim of transferring as much aid to Gaza as possible through the maritime corridor,” said Foreign Minister Constantinos Kombos.
The Pentagon indicated further that it hopes to have the final causeway section of the pier in place and functional by “later this week.”
“The Sagamore is a cargo vessel that will use the JLOTS system [Joint Logistics Over-the-Shore system], and will make trips between Cyprus and the offshore floating pier as USAID and other partners collect aid from around the world,” Singh explained in the briefing.
Time is of the essence given the United Nations is now warning that northern Gaza is already in a state of “full-blown famine.” Additionally hundreds of thousands of civilians are now fleeing the southern city of Rafah as the city faces an imminent IDF ground invasion.
At the UN Security Council (UNCS), China in particular has been stepping up its criticisms of Washington policy on Israel of late. Beijing has also been highlighting US ‘hypocrisy’ in daily press briefings. For example, the Chinese foreign ministry this week issued a statement saying “China… strongly calls on Israel to heed the overwhelming demands of the international community, stop attacking Rafah, and do everything it can to avoid a more serious humanitarian disaster in the Gaza Strip.”
Hamas has continued to threaten the project, especially if US troops are found to be at the pier site:
Qassam mortar teams (six) vs IDF excavators and troop positions establishing the Netzarim corridor. The corridor divides the Strip and connects to the US Army pier project south of Gaza City. [Qassam Brigades 1/5]
Twitter.com/jonelmer/status/1785871742579147104?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1785871742579147104%7Ctwgr%5E022a69079c4c55ea75ba9198884d88aa07a3d7c9%7Ctwcon%5Es1_&ref_url=https%3A%2F%
Twitter.com/jonelmer/status/1785871742579147104?
Bloomberg has further featured the following Chinese Embassy statement:
Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, criticized the US for talking about “a ceasefire while pouring weapons” into the “biggest humanitarian tragedy in the 21st century,” in an emailed statement.
China has lately launched its own efforts at mediating the conflict, given it hosted Hamas and Fatah officials in Beijing last week for rare talks aimed at achieving Palestinian political unity.
END
ISRAEL/USA
Biden does not calculate this: major Democrat donors will no longer supply money to them
Israel means more to these donors than what Muslins care for Hamas
‘Bad, bad, bad,’: Major Israeli-American Biden donor criticizes US threat to halt weapons
Haim Saban is an Israeli-American billionaire and long-time supporter of Israel and Jewish political causes and has been a consistent donor to the Democratic party since the 1990s.
By YUVAL BARNEAMAY 10, 2024 01:19
A major donor to President Joe Biden’s reelection campaign has criticized his handling of the weapons shipments to Israel, calling it a “Bad, bad, bad, decision, on all levels” in a text published online on Thursday.
Haim Saban is an Israeli-American billionaire and long-time supporter of Israel and Jewish political causes and has been a consistent donor to the Democratic party since the 1990s.
Democratic mega-donor Haim Saban wrote an email to Biden’s aides Steve Ricchetti & Anita Dunn about Biden’s decision to put on hold a weapons shipment to Israel: “Let’s not forget there are more Jewish voters who care about Israel than Muslim voters who care about Hamas”
·
1.2M Views
Saban criticized Biden’s threat to halt arms shipments to Israel. He asked Biden whether his actions were consistent with the belief that Hamas should be defeated and whether this sent the best message to other US allies in the region.
“This sends a terrible message to our allies in the region, and beyond that, [that] we can flip from doing the right t[h]ing to bending to political pressure.”
He then reminded Biden that “There are more Jewish voters who care about Israel than Muslim voters that care about Hamas.”
Biden threatened to halt arms shipments to Israel due to Israel’s push to invade Rafah, telling CNN, “If they [Israel] go into Rafah… I’m not supplying the weapons that have historically been used to.”
One shipment has already been stopped due to the US administration’s concern over the invasion of Rafah, Defense Secretary Lloyd Austin told a Senate committee.
Who is Haim Saban?
Saban was born in Egypt and made aliyah with his family in 1956. He fought in both the Six-Day War and the Yom Kippur War.
From here, Saban began playing in a band, finding mild success. His rise in the business world came when he and his production company created several iconic 80s children’s TV show theme songs, including He-Man, She-Ra, and Inspector Gadget.
His company, Saban Entertainment, grew and would go on to produce more iconic TV shows such as Ninja Turtles and Power Rangers, the company would later merge and form fox Kids Worldwide.
Saban has been a major supporter of pro-Israel causes in the US for decades, having donated to major Democratic campaigns like the 2000 Presidential Election when he was the largest donor to the Democratic National Committee in the 2001-2002 cycle.
After the October 7 attacks, he signed messages of support for Israel along with other major figures in the entertainment industry.
END
ISRAEL/USA
PM hoping to overcome differences with Biden, says ‘no choice’ but to destroy Hamas
This combination photo shows US President Joe Biden, left, on March 8, 2024, in Wallingford, Pennsylvania, and Prime Minister Benjamin Netanyahu in Tel Aviv, October 28, 2023. (AP Photo)
Prime Minister Benjamin Netanyahu says he hopes he and US President Joe Biden can overcome their disagreements over the war in Gaza, after Biden withheld a shipment of bombs from Israel.
“We often had our agreements but we’ve had our disagreements. We’ve been able to overcome them. I hope we can overcome them now, but we will do what we have to do to protect our country,” Netanyahu says in an interview on the “Dr. Phil Primetime” show, which was taped before Biden’s threat on Wednesday to further withhold weapons if Israel enters Rafah.
Speaking in Jerusalem with the US television personality, the premier argues Israel “has no choice” but to destroy Hamas’s remaining battalions in Rafah.
“If we do not destroy them, if we leave them alone they’ll come back. They’ll emerge from the tunnels, they’ll take over Gaza again, and they’ll do what they promised to do: They’ll do October 7 — this enormous massacre — again, again and again,” Netanyahu says.
Pressing his case for why Israel must enter Rafah, Netanyahu says Israel must destroy Hamas’s remaining battalions there
“Rational minded people understand that we don’t have a choice,” he contends.
RUSSIA/UKRAINE
Russia Launches Surprise Offensive In Kharkiv, Aims To Extend Border 10km Deep Into Ukraine
FRIDAY, MAY 10, 2024 – 02:40 PM
Following several more cross-border attacks from Ukraine, including direct drone hits on Russian oil facilities over the past 48 hours, Russian forces have launched a surprise ground offensive which seeks to break through front lines in the northeastern Kharkiv border region on Friday.
“Russia launched a new wave of counteroffensive actions… Ukraine met them there with our troops, brigades, and artillery,” Ukrainian President Volodymyr Zelensky confirmed of the new action in a briefing. “Now there is a fierce battle underway.”
Civilians have also been witnessed fleeing border areas in droves as heavy fighting ensues. Already Moscow forces have penetrated at least 1 kilometer deep in what’s being described as an effort to create a larger ‘buffer zone’ in order to help prevent Ukrainian attacks from reaching Russian territory.
Ukraine’s defense ministry said that the new offensive began at 5am local time with armored vehicles leading the charge of infantry troops in this major effort to effectively push the border itself deeper into Ukraine territory.
Kharkiv region on fire amid a major surprise Russian offensive:
But Ukraine defense officials have claimed, “As of now, these attacks have been repulsed; battles of varying intensity continue.”
The AFP has written, “If Moscow’s advances are confirmed, it would represent the Russian military’s largest land operation in the region since sending thousands of troops across the border in February 2022.”
Below: the center of Vovchansk after heavy fighting…
Russia Launches Surprise Offensive In Kharkiv, Aims To Extend Border 10km Deep Into Ukraine Tyler Durden’s Photo BY TYLER DURDEN FRIDAY, MAY 10, 2024 – 02:40 PM Following several more cross-border attacks from Ukraine, including dire
Heavy shelling is also taking place, especially in the vicinity of Vovchansk, which is a border town of a few thousand people but which had a pre-war population of 17,000. According to further unfolding details:
Kharkiv region’s governor said the length of the border and the settlements in it were a “grey zone” and confirmed active fighting taking place.
A senior Ukrainian military source who declined to be named said Russian forces had pushed 1 km (0.6 mile) inside the Ukrainian border near Vovchansk.
The source said Russian forces were aiming to push Ukrainian troops as far back as 10 km inside Ukraine as part of an effort to create a buffer zone, but that Kyiv’s troops were trying to hold them back.
Kharkiv, which is Ukraine’s second-largest city and sits very close to the border, has been attacked heavily by airstrikes for months, and has had its energy infrastructure severely downgraded in the attacks.
Ukraine regional governor Oleg Synegubov described that “Enemy shelling from various types of weapons has been intensifying in Kharkiv region in the northern area for the last day.” He further wrote on Telegram while confirming at least two civilians killed, “In Kharkiv region, evacuation routes have been developed since 2022, and a system of humanitarian aid distribution, temporary resettlement.”
The Russian side is also urging civilians to seek immediate safety amid the heavy border fighting. “There is fighting on several parts of the line of contact, including in the border areas of Kharkiv region,” Vitaliy Ganchev, a Russian officials overseeing the Kharkiv region stated on Telegram. “In this regard, I ask residents living in these areas to be careful and not to leave shelters without an urgent need.”
This week at least eight Russian civilians have died in the Belgorod region after Ukraine forces sent more drones across the border. Also, Ukrainian drone slammed into an oil refinery in central Russia’s Kaluga region south of Moscow overnight.
And the day prior, a drone struck an oil refinery in Russia’s republic of Bashkortostan, which is a first of the conflict. It reportedly involved a long-range, slow moving drone flying at a low altitude. This has raised questions of the current state of Russia’s anti-air defenses.
But Ukraine defense officials have claimed, “As of now, these attacks have been repulsed; battles of varying intensity continue.”
The AFP has written, “If Moscow’s advances are confirmed, it would represent the Russian military’s largest land operation in the region since sending thousands of troops across the border in February 2022.”
Heavy shelling is also taking place, especially in the vicinity of Vovchansk, which is a border town of a few thousand people but which had a pre-war population of 17,000. According to further unfolding details:
Kharkiv region’s governor said the length of the border and the settlements in it were a “grey zone” and confirmed active fighting taking place.
A senior Ukrainian military source who declined to be named said Russian forces had pushed 1 km (0.6 mile) inside the Ukrainian border near Vovchansk.
The source said Russian forces were aiming to push Ukrainian troops as far back as 10 km inside Ukraine as part of an effort to create a buffer zone, but that Kyiv’s troops were trying to hold them back.
COVID ISSUES/VACCINE ISSUES//DRUG ISSUES
This is big news:
Chris Cuomo Admits Taking “Regular” Doses Of Ivermectin After Previously Saying Those Who Took It Should Be “Shamed”
THURSDAY, MAY 09, 2024 – 10:40 PM
After once claiming on air that people taking ivermectin should be “shamed”, Chris Cuomo has done an about face on the drug, admitting on the PBD Podcast this week that he is taking a regular dose of it to deal with long Covid.
In January, Cuomo revealed he’s dealing with “long COVID,” the lasting effects of a previous infection. On the PBD Podcast hosted by Patrick Bet-David, the NewsNation host said he’s using antiviral medication to combat inflammation and “brain fog.”
He said: “I’ll tell you something else that’s gonna get you a lot of hits. I am taking … a regular dose of Ivermectin. Ivermectin was a boogeyman during COVID. That was wrong. We were given bad information about Ivermectin. The real question is, why?”
Why, Chris? Perhaps its because you and Don Lemon were on-air daily providing a constant stream of misinformation about the drug?
He continued: “Everyone’s going to say ‘Joe Rogan was right. No, Joe Rogan was saying – yeah, he was right – that’s not what matters. What matters is, the entire medical community knew that Ivermectin couldn’t hurt you. They knew it … I know they knew it.”
“How do I know? Because now I’m doing nothing but talking to these clinicians, who at the time were overwhelmed by COVID, and they weren’t saying anything!”
But back during the pandemic, Cuomo took to the air to widely discredit ivermectin, despite it appears on the WHO’s List of Essential Medicines and having been dosed for humans millions of times.
Cuomo said during the pandemic: “What person – you know you talk about cancel culture and who to shame – Ivermectin? A de-wormer? Really? … they need to be shamed. They need to be called out and shamed, brother.”
Like all ridiculous liberal talking points, the truth tends to emerge only when involves the well-being of those espousing lessons on how others should live their lives. Cuomo now says about ivermectin:“It’s cheap, it’s not owned by anybody, and it’s used as an anti-microbial, antiviral and has been for all these different ways, and has been for a long time.”
“My doctor was using it during COVID on her family and on her patients, and it was working for them. So. They were wrong to play scared on that. Didn’t know that at the time. Know it now, admit it now, reporting on it now.”
Back in August 2023, when we published “The Unforgiveable Ivermectin Swindle“, we noted…the truth finds a way to make its way out eventually.
END
MARK CRISPIN MILLER
END
DR PAUL ALEXANDER
Irish marching by the thousands, want muslims OUT OUT, they cry! “[And to keep] our culture, our traditions, and our Christian Catholic religion. I don’t want Ireland to become an Islam stronghold,”
Britain has been offloading their unprecedented surge in migration onto Ireland, which has led to refugee camps emerging in the capital city. Thousands gather in Ireland to protest immigration
| DR. PAUL ALEXANDERMAY 10 |
You and I know the North African and Middle Eastern islamist are headed there to rape and stab people, you and I know this, somehow the government does not!
‘The migrants who were previously headed for Britain are now arriving at Ireland’s International Protection Office on a weekly basis.
Alexander COVID News_a PCR manufactured fake COVID pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Eighty percent of asylum-seekers are estimated to cross the land border with Northern Ireland.
Tents, garbage, and the smell of urine have grown from the encampments of migrants taking over the streets of Dublin and along the city’s Grand Canal.
“We’ve nowhere to put them all and more keep coming. There’s no end to it,” an International Protection Office worker told a local news outlet. “It’s a madhouse.””
SLAY NEWS
| The latest reports from Slay News |
| Top Professor Testifies: Covid Pandemic Was a HoaxA globally esteemed professor has given an explosive testimony during a federal government hearing in Germany to warn that the Covid pandemic was a hoax.READ MORE |
| Pfizer Whistleblower Drops Bombshell: ‘I Am NOT Suicidal’A Pfizer whistleblower has posted a chilling video statement on social media to warn that she is “NOT suicidal.”READ MORE |
| Antifa Members Provoking Violence on College Campuses Exposed as Same ‘Professional Agitators’ Involved in 2020 BLM RiotsSeveral Antifa members behind violent attacks on college campuses have been exposed as the same “professional agitators” provoking unrest during the Black Lives Matter riots of 2020.READ MORE |
| Biden Gaslights Voters on Economy: ‘We’ve Already Turned It Around’Democrat President Joe Biden has responded to low consumer confidence in the economy by gaslighting voters about his “Bidenomics” policies.READ MORE |
| Justice Amy Coney Barrett Unlikely to Side with Trump on Presidential ImmunityPresident Donald Trump shouldn’t count on the support of Justice Amy Coney Barrett when the Supreme Court makes a decision on his presidential immunity claim.READ MORE |
| Jonathan Turley: Democrat Judge in Trump’s ‘Hush Money’ Case Allowed Stormy Daniels’ Testimony for ‘Political Purposes’Legal scholar Jonathan Turley has blasted the Democrat judge in President Donald Trump’s “hush money” trial for allowing Stormy Daniels to take the witness stand and provide an unrelated and salacious testimony.READ MORE |
| Democrat John Fetterman Breaks with Biden on Withholding Weapons for IsraelDemocrat Sen. John Fetterman (D-PA) has broken ranks with President Joe Biden regarding shipments of weapons for Israel.READ MORE |
| Expelled Students Win $1 Million for False ‘Blackface’ AllegationsTwo wrongly expelled high school students have won $1 million in compensation after they were falsely accused of wearing “blackface” and publicly smeared as “racist.”READ MORE |
| New York’s Abortion Rights Amendment Removed from BallotA bill that would have added abortion rights and other left-wing issues to the New York constitution was removed from the ballot.READ MORE |
| Joy Behar Responds to Stormy Daniels’ Wild Testimony: Trump Is a ‘Despicable Person’The co-hosts of “The View” responded to the wild testimony of Stormy Daniels after her unhinged rants from the witness stand derailed President Donald Trump’s “hush money” trial on Tuesday.READ MORE |
| Republicans Move to Deport Pro-Hamas Foreign StudentsRepublican Rep. Andy Ogles (R-TN) has introduced legislation that seeks to deport foreign students involved in pro-Hamas protests on America’s college campuses.READ MORE |
| CDC Scrambled to Cover Up Sudden Deaths of 2 Teens Shortly after Covid Shots, Emails ShowOfficials at the U.S. Centers for Disease Control and Prevention (CDC) scrambled to cover up a study that revealed two teenage boys died suddenly shortly after receiving Covid mRNA shots.READ MORE |
EVOL NEWS
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LATEST NEWS:
NEWS ADDICT
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0781 DOWN .0007
USA/ YEN 155.73 UP 0.339 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2531 UP .0007
USA/CAN DOLLAR: 1.3682 UP .0004 (CDN DOLLAR DOWN 4 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 0.23 PTS OR .01%
Hang Seng CLOSED UP 425.87 PTS OR 2.30%
AUSTRALIA CLOSED UP 0.37 %
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 425.87 OR 2.30%
/SHANGHAI CLOSED UP 0.23 PTS OR 0.01%
AUSTRALIA BOURSE CLOSED UP 0.36%
(Nikkei (Japan) CLOSED UP 155.13 PTS OR 0.41%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2377.20
silver:$28.72
USA dollar index early FRIDAY morning: 105.13 UP 2 BASIS POINTS FROM THURSDAY’s CLOSE.
FRIDAY MORNING NUMBERS ENDS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing FRIDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.153% UP 4 in basis point(s) yield
JAPANESE BOND YIELD: +0.903% UP 0 AND 2/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.315 UP 3 in basis points yield
ITALIAN 10 YR BOND YIELD 3.863 UP 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.5205 UP 3 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR FRIDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0777 DOWN 0.0004 OR 4 basis points
USA/Japan: 155.78 UP 0.393 OR YEN IS DOWN 39 BASIS PTS
Great Britain/USA 4.213 UP .0030 OR 3 BASIS POINTS //
Canadian dollar UP .0009 OR 9 BASIS pts to 1.3680
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2265 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2334)
TURKISH LIRA: 32.19 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.903…
Your closing 10 yr US bond yield UP 6 in basis points from THURSDAY at 4.508% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.649 UP 5 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.868 UP 6 BASIS PTS.
GOLD AT 11;30 AM 2368.40
SILVER AT 11;30: 28.26
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 52.42 PTS OR 0.69
German Dax : CLOSED UP 86..25 PTS OR 1.02%
Paris CAC CLOSED UP 31.49 PTS OR .38 %
Spain IBEX CLOSED UP 55.40 OR 0.50%
Italian MIB: CLOSED UP 318.03 PTS OR 0.93 PTS
WTI Oil price 78.36 12EST/
Brent Oil: 82.94 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 92.26 ROUBLE DOWN 0 AND 31/100
GERMAN 10 YR BOND YIELD; +2.5205 UP 3 BASIS PTS.
UK 10 YR YIELD: 4.213 UP 3 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0775 DOWN 0.0007 OR 7 BASIS POINTS
British Pound: 1.2530 UP 0.0006 UP 6 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.2030 UP 3 BASIS PTS//
JAPAN 10 YR YIELD: .903%
USA dollar vs Japanese Yen: 155.39 UP 0.395/ YEN UP 40 BASIS PTS//
USA dollar vs Canadian dollar: 1.3668 DOWN 0010 //CDN dollar UP 10 BASIS PTS
West Texas intermediate oil: 78.37
Brent OIL: 82.89
USA 10 yr bond yield UP 5 BASIS pts to 4.504
USA 30 yr bond yield UP 5 BASIS PTS to 4.646%
USA 2 YR BOND: UP 6 PTS AT 4.868
USA dollar index: 105.15 UP 4 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32. 25 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 92.26 DOWN 0 AND 3//100 roubles
GOLD 2,364.30 3:30 PM
SILVER: 28.22 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 125.08 PTS OR 0.32 %
NASDAQ UP 12.57 PTS OR 0.26 %
VOLATILITY INDEX: 12.57 DOWN 0.12PTS OR 0.95%
GLD: $218.71 UP 1.76 OR 0.81%
SLV/ $25.77 DOWN .09 OR 0.35%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Stocks End Week On Muted Note As Stagflation Fears Mount
FRIDAY, MAY 10, 2024 – 04:01 PM
Late Friday afternoon, US main equity indexes showed little change, with the S&P 500 on track for a 2% weekly gain after investors digested new concerns about a slowing economy and elevated inflation, rekindling fears of stagflation.
During the session, Treasury yields increased due to persistent inflationary pressures, complicating Federal Reserve Chairman Jerome Powell’s plan to cut interest rates later this year. Although most of the earnings season has concluded (prepare for Nvidia ER later this month), the continued strength from Corporate America remains a positive highlight. However, companies are increasingly signaling that low-income consumers are starting to crack.
Let’s begin with the biggest macro news in the session: This morning’s consumer confidence survey from the University of Michigan pointed to an implosion of Bidenomics. The report was a total disaster. The index “unexpectedly” plunged from 77.2 to 67.4, a 9.8-point drop, the biggest since August 2021.
… and was only a 7-sigma miss to expectations of a 76.2 print…
… but it was the biggest miss on record!
The consumer confidence report was released at 10:00 AM ET. Immediately afterward, US equity indexes gave up most of the gains and fell, moving sideways in afternoon trading.
Among the US main equity indexes, the Russel 2000 was the biggest loser in the session. This is mainly because of economic weakness.
There was little notable sector performance across the S&P500 besides tech, which was marginally higher, and energy, down half a percent.
NYSE TICK showed selling pressure after 10:00 AM and persisted into early afternoon.
Most shorted stocks are running out of steam to end the week.
Treasury yields extended gains after the report as stubborn inflationary pressures reminded traders of the higher-for-longer theme. 2-year yields reached weekly highs while Fed-dated OIS adjusted to price out rate cut expectations for this year.
The Treasury 10-year Yield climbed above 4.5%.
Today’s stagflationary warning is a new challenge to the outlook of the Fed’s interest rate cutting cycle. Fed swaps for ’24 immediately sank from 1.77 cuts to about 1.63 cuts by late afternoon. Nasdaq futures tracked lower on fewer rate cuts.
“Our economists continue to forecast two rate cuts from the Fed this year beginning with the July meeting. And yields on 10-year Treasuries have come off recent highs following last week’s soft Payrolls report,” Goldman’s Chris Hussey wrote in a note this afternoon.
Citi’s US Economic Suprise Index slides to the lowest since January 2023.
Whoops.
Entire dovish move from huge jobs report miss has been reversed on catastrophic UMich print (which signals even more economic weakness)
·
133.7K Views
What to expect next week.
zerohedge
@zerohedge
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5h
Entire dovish move from huge jobs report miss has been reversed on catastrophic UMich print (which signals even more economic weakness)
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89.5K Views
Bitcoin and Ethereum were clubbed like a baby seal after the report, sending the dollar soaring in a more hawkish environment.
Meanwhile, BlackRock’s Larry Fink gets bullish on ETH.
In commodities, WTI was whacked from the near $80bbl handle, tumbling down to a low $78 after the report. Gold and silver slid on a strong dollar.
Looking ahead, next week will be packed with macro data points, including the release of CPI, PPI, retail sales, and industrial production in the US.
END
MORNING TRADING/
AFTERNOON TRADING/
II USA DATA
Bidenomics Implodes: Consumer Sentiment Unexpectedly Craters In Biggest Miss On Record As Inflation Expectations Surge
FRIDAY, MAY 10, 2024 – 10:26 AM
Moments ago the University of Michigan released the latest “report card” on Bidenomics, and to nobody’s surprise – except perhaps a certain senile teleprompter reading, diaper wearing puppet in the White House – it was a total disaster, as Sentiment “unexpectedly” plunged from 77.2 to 67.4, the 9.8 point drop the biggest since August 2021…
… and was not only a 7-sigma miss to expectations of a 76.2 print…
… but was the biggest miss on record!
The collapse in sentiment was broad based, and hammered both current conditions – which plunged from 79.0 to 68.8, badly missing estimates of 79.0 – and also expectations, which plunged from 76.0 to 66.5 (and far below the 75.0 estimated).
The decline in sentiment was broad across age, income and education groups, and also reflected growing concerns about high interest rates. While the labor market has driven economic growth over the last year, the downbeat assessment highlighted in the report adds to evidence of a slowdown.
“Strength in household incomes has been the primary source of support for robust consumer spending over the past couple of years, so a softening in labor market expectations is concerning and — if it continues — may lead to a pullback in consumers’ willingness to spend,’’ Joanne Hsu, director of the survey, said in a statement.
But wait there’s more, because if that was the “stag” part of the report, the UMich report also confirmed that the “flation” isn’t far behind, as the inflation outlook suddenly deteriorated quite dramatically, to wit: 1Year inflation expectations jumped from 3.2% to 2.5%, the highest since November 2023 (and far above estimates of 3.2%), while 5-10 Year inflation expectations also rose from 3.0% to 3.1%, the highest since November.
If that wasn’t enough, the university’s measure of buying conditions for durable goods, some of which are financed, also decreased to a one-year low. And finally, consumers’ perception of their financial situation, as well as short- and long-term economic outlooks, decreased this month.
“Worse yet, consumers expect the pain to continue, as expectations for interest rates deteriorated considerably this month,” Hsu said. “Only one quarter of consumers expect interest rates to fall in the year ahead, compared with 32% in April.”
One possible reason for the shocking collapse in the print is that, as Pantheon Macro noted ahead of the print, UMich is in the process of switching from phone to an online survey, which according to Pantheon was, get this, “likely to weigh on the headline sentiment because people on the phone are more optimistic than the online applications.” Riiight. If anything the transition from phone to online just means that people are actually more truthful in their responses and, well… we just saw the result!
In short: the verdict for Bidenomics is in, and it’s a complete disaster, as for Powell’s recent laughable comment that he can’t see the “stag” nor the “flation”… well, Fed chair, they just bit you on the ass.
TUCKER CARLSON…
END
III USA ECONOMIC COMMENTARIES
Manhattan apartment rents skyrocketing!
Manhattan Apartment Rents Gain Momentum, Signal Potential Record Highs This Summer
THURSDAY, MAY 09, 2024 – 09:20 PM
While the rent component of the consumer price index has shown a strong disinflationary trend since peaking in the summer of 2023, high-frequency data reveals rent prices in key metro areas are moving higher.
Several high-frequency rental data points show that the cost of signing a new lease on a house or apartment is rising again despite decelerating rent component print in the March Consumer Price Index.
Let’s begin with Manhattan apartment rents, hitting a new record for April, Bloomberg reported, citing a new report from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.
New leases signed in April topped an average of $4,250, up $9 from last April. Overall, prices peaked at $4,440 last August, sliding marginally in the fall months, and have since moved higher at the start of the year.
“The question is whether we’re going to beat last summer’s all-time highs,” said Jonathan Miller, president of Miller Samuel.
Miller pointed out that rents are likely to “beat last summer’s all-time highs” given their current trajectory and momentum.
Looking at CoreLogic data, its latest Single-Family Rent Index, which examines single-family rent price changes nationally and across major cities, “regained strength in February, posting the highest annual appreciation since April 2023,” according to Molly Boesel, principal economist at CoreLogic.
CPI rents will be deflationary as they catch up to lagged real-time indicators. However, if high-frequency data continues moving upward, there’s a risk CPI rents could turn back up later this year.
If this is the case, then potentially more bad news for Bidenomics and Federal Reserve Chairman Jerome Powell, who is enabling this fiscal trainwreck as inflation continues to crush working poor households.
Recall, earlier this week, Stan Druckenmiller told CNBC’s Joe Kernen that he rates Bidenomics an “F.”
end
BOEING
More troubles again!
United Airlines Boeing 737 Makes Emergency Return To Japanese Airport After Wing Flap “Irregularity”
FRIDAY, MAY 10, 2024 – 07:45 AM
Wednesday:
Thursday:
Good morning, readers. There has been another Boeing incident overnight. This news is particularly alarming for anyone flying domestically or internationally on a Boeing jet, especially given the two Boeing mishaps earlier this week.
Aviation news website Simply Flying reported a United Airlines Boeing 737-800 that departed from Fukuoka Airport in Japan earlier today experienced an “irregularity” with a wing flap(s).
UA166, which was taking off from Fukuoka Airport to Guam Antonio B. Won Pat International Airport, climbed to an altitude of 10,000 feet after takeoff, then leveled off and held a holding pattern. Around this time, pilots detected a wing flap(s) issue.
“Eventually, after holding for more than 30 minutes, the aircraft began its approach to FUK by descending and lining up on the airport’s sole runway, runway 16/34, with the United Airlines aircraft landing at the aircraft on the former configuration,” Simply Flying said.
Simply Flying, local media outlets nor officials provided additional information about the flap ‘issue.’
What’s important to understand here is that flaps are crucial for producing additional lift in takeoff and landing procedures. For the pilots out there, the flaps are critical for more lift on a ‘normal’ approach that provides reduced speed and controlled flight ahead of the round-out phase of landing. In other words, with full flaps deployed, a steep approach on landing means reduced speed and shorter runway distance is needed. A straight-line approach with no flaps deployed means higher speed and more runway distance required.
Given the brief aviation lesson about wing flaps, the 737-800 usually requires 6,500–7,000 feet for landing. Many calculations go into that, including weight and wind. Data shows the plane used the entire 9,186-foot runway, a possible indication of wing flap issues.
The good news is that the plane landed without an issue, and all 49 souls onboard were safe.
Another day, another issue with Boeing.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
END
iiiC USA COVID //VACCINE ISSUES
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON
END
END
SWAMP STORIES
Democrats are running scared that they have zero cases to convict Trump
(Turley)
Democrats Attack Judge For Delaying Trump Florida Trial
THURSDAY, MAY 09, 2024 – 09:40 PM
While pundits, politicians and the press have long expressed outrage over attacks on judges by former President Donald Trump, many are now attacking any judge who delays any trial of Trump before the election. Democrats have accused Judge Aileen Cannon of being politically compromised, if not conspiratorial, in her delay of the Florida trial over the mishandling of classified documents. Yet, there is ample reason for the delay that many of us anticipated in this type of case when it was filed.
For months, many of us have said that we doubt that this type of trial could be held on the rapid schedule demanded by Special Counsel Jake Smith. Smith has repeatedly sought to curtail trial review and even appellate rights of Trump to advance his schedule.
His office has made convicting Trump before the election the overriding objective of its motion — a sharp departure from past Justice Department efforts to avoid trials to influence elections.
As a criminal defense counsel, I have handled classified material cases and they are notoriously slow. Smith could have prosecuted this case in the shorter time frame if he simply charge obstruction. That would have also eliminated the glaring contrast with the handling of the Biden investigation into the current president’s retention and mishandling of classified material.
Smith decided to charge an array of document charges related to classified material. The defense must have access, review, and can appeal issue related to the classified procedures. Yet, Smith wanted both the array of document charges and a fast track to trial. The Supreme Court has agreed with Cannon that Smith desire to secure a conviction before the election is not the overriding consideration.
Judge Cannon is faced with recent admissions that the government mixed up files in the boxes and staged the famous photos of document strewn over a floor with classified jackets.
Most importantly, disputes over the relevant documents continues as expected in the case.
Nevertheless, leading democrats are denouncing Cannon as a partisan hack.
Sen. Sheldon Whitehouse (D-R.I.), the chair of the Senate Judiciary Committee’s subcommittee on federal courts and oversight subcommittee, said accused Cannon of “deliberately slow-walking the case.” Ignoring the fact that similar cases have taken much longer to go to trial, Whitehouse simply declared “it is hard for me not to reach the conclusion that this [judge] is deliberately slow-walking the case to put it into a position where should [Trump] be elected, he can order that the investigation and prosecution be terminated.”
His colleague Sen. Chris Coons (D-Del.) insisted that Cannon was “managing this case in a way that is making it highly unlikely that it will be resolved in a timely fashion.”
Coons added “Justice deferred is often justice denied.” It is a bizarre statement. Classified documents cases routinely take longer to go to trial. The alternative is to cut off the ability of the defense to fully review the documents and review objections for resolution before trial. Yet, because the defendant is Trump and these Democrats want the trial to influence the election, such defense protections are now evidence of judicial bias.
They, of course, ignore that Cannon has ruled repeatedly against major Trump motions in the case.
Sen. Peter Welch (D-Vt.), a member of the Judiciary Committee, said Cannon’s “at it again, doing everything she can to delay.”
Sen. Richard Blumenthal (D-Conn.), offered the most telling line. He said “I question whether this judge understands the magnitude or the legal import of this trial.”
Indeed, it is the timing as much as the charges that makes this so important to the Justice Department and the Democrats. Smith has crafted this case to impact the election and the failure of the court to support that effort is apparently grounds for recusal.
Blumenthal called for such a motion before the window is lost before the election: “It’s a classic dilemma for justice that a particular judicial officer may be conducting a trial that could be better done by somebody else.”
Despite the statement of his colleague Coons, this is a case where justice delayed is justice.
END
Now he attacks China: he will announce tariffs on China’s EV
(zerohedge)
Biden Set To Announce Tariffs On China EVs
FRIDAY, MAY 10, 2024 – 09:05 AM
The Biden administration is expected to make a major announcement on China tariffs as soon as next week that will impact semiconductors, solar power, and electric vehicles, according to Bloomberg, citing people familiar with the matter. While the possibility of additional tariffs has been widely known, the specific industries to be targeted have now been identified. Moreover, Beijing will likely release angry comments after Biden’s speech next week, followed by a tit-for-tat response.
Two of the people said the decision to hit China’s “new three” green goods comes after a review of Section 301 tariffs, which were first implemented under former President Trump in 2018. The tariffs primarily target electric vehicles, batteries, and solar cells, with existing tariffs being maintained. They said the announcement is planned for Tuesday.
The Biden administration is making a bold move against Beijing in an election year as polling data spirals lower as Bidenomics has become a complete failure. It’s not us just saying this. Billionaire investor and Duquesne Family Office Chairman & CEO Stan Druckenmiller told CNBC’s Joe Kernen earlier this week that Bidenomics is a disaster.
Last month, the president said he would impose 25% tariffs on Chinese steel and aluminum. Earlier this week, the administration said it would revoke Intel and Qualcomm’s export license to supply semiconductors to Chinese firm Huawei.
If China were to retaliate, in a tit-for-tat effort, they could hit Elon Musk’s Tesla or continue reducing US agricultural exports of corn and soybean.
“Instead of correcting its wrong practices, the United States continued to politicize economic and trade issues,” Chinese Foreign Ministry spokesperson Lin Jian said Friday, adding, “To further increase tariffs is to add insult to injury.”
Meanwhile, if reelected, Trump has promised to hit China with a tsunami of tariffs, vowing a 60% tax on all Chinese imports.
US Senator Chuck Grassley, an Iowa Republican, warned Beijing will respond:
“We know how China reacted when Trump put tariffs on … and they hit agriculture with it. I can’t be sure that China would hit agriculture the same as they did in the Trump ones, but they’re going to hit back.”
In markets, Chinese shares of solar firms fell on the news:
- Longi shares drop 1.8% in Shanghai, JA Solar -1.7% in Shenzhen, Xinyi Solar -3.8% in Hong Kong
The yuan weakened in both onshore and offshore markets, while CSI 300 Index fell:
- USD/CNH gains 0.1% at 7.2270, pair on track to rise 0.5% on the week, biggest weekly advance since the week ended March 22
- USD/CNY rises 0.1% at 7.2251
- Bloomberg’s dollar spot index steady; USD/HKD is little changed at 7.8139
- CSI 300 Index, benchmark of onshore China stocks, falls as much as 0.6% before paring about half of its decline.
“It’ll definitely cause investors to pause on stocks that are potentially exposed,” said Xin-Yao Ng, director of investment at abrdn. He added, “Everyone knows it’s a risk.”
Here’s what other Wall Street analysts are saying (list courtesy of Bloomberg):
AllianceBernstein (John Lin)
- We are not overly concerned about that because to us geopolitics is now a structural part of investing in China”
- “Everybody understands that there will be periods where things get a little worse and there will be periods where things get a little better. And that fluctuation to us is really an opportunity to add or reduce risk but not a reason to stay away from the market overall”
ANZ Banking Group (Khoon Goh)
- News of the US imposing more tariffs against some Chinese imports has seen the yuan weaken slightly
- The threat of more tariffs have been known, but if the final outcome is for a more targeted approach, then there is unlikely to be much of a lasting effect on the yuan
Maybank (Fiona Lim)
- “You can’t say that this was not expected. Such trade-war era kind of tensions have been in the making ever since Trump spoke about imposing 60% tariff”
- People’s Bank of China is keeping the yuan in a tight grip via the fix and offshore liquidity management and that may limit bearish swings to a certain extent
- “USDCNH-USDCNY premium could widen in such an environment”
TD Securities (Alex Loo)
- It wasn’t a total surprise to us. Trade tensions would likely increase if Biden puts heavy tariffs on China’s products in the coming weeks
- We anticipate that yuan would trade on the backfoot given such unfavorable news but expect the PBoC to continue to intervene and smooth out any excessive weakness in the CNY
- Regional currencies are more sensitive to moves in the USD path now since China has been effectively anchoring the yuan
Eastspring Investments (Ken Wong)
- This news on the proposed tariffs in particular for Chinese EVs was widely expected
- Even so, we are seeing a bit of a pullback in EVs and renewable stocks in HK/China this morning
Saxo Capital Markets (Charu Chanana)
- The tariff announcement is a reminder that geopolitics remains a key aspect in considering exposure to China market, and valuations or government support measures are not the only catalysts
- This means valuations may continue to “take the ebb and flow of geopolitics into account” and also “increased exposure to domestic-oriented sectors”
IG Markets (Hebe Chen)
- “The US’s latest tariff hike on China EV is poised to trigger unprecedented shockwaves through the industry”
- This move not only deals a crippling blow to China’s new strategic ambitions, but it also marks a potential tipping point, broadening the trade war between Washington and Beijing to a new level
- For Chinese stocks, particularly EV companies, the new tariff decision is akin to a looming tsunami. Investors are bracing for a significant upend as the full impact of the new tariffs unfolds
Shanghai Jade Stone Investment Management (Chen Shi)
- We’ve long been expecting more anti-China rhetoric and policies to be amplified closer to the election, and though this is surely a piece of negative news, to us, and to investors in general, the marginal effect is diminishing
- “China has proven through the years that its core edge lies in a strong and comprehensive industrial structure, and that cannot be challenged with tariffs”
- There are plenty of ways for companies to work around this
Deepening a trade war with China comes as Biden’s polling data is absolutely awful.
This shows Biden’s polling data versus headlines in corporate media featuring trade war-related news.
A tough-on-China stance could be a new strategy the administration attempts to win back voters.
… it won’t work.
KING REPORT
| The King Report May 10, 2024 Issue 7240 | Independent View of the News |
| BOJ’s board turned hawkish in April, steady rate hikes now in view Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting with some seeing the chance of interest rates rising faster than anticipated, a summary of opinions at the meeting showed on Thursday… https://finance.yahoo.com/news/boj-board-turned-hawkish-april-001436441.html US Initial Jobless Claims were higher (231k) than expected (212k); so, the usual suspects incontinently bought ESMs and USMs. Powell told the world that he desperately wants to cut rates. Ergo, the usual suspects will go gaga for risk at the least inducement. Continuing Claims are 1.785m; 1.782m expected; 1.768m from 1.774m prior Mortgage Rates Push Housing Affordability Down in March 2024 According to NAR’s Housing Affordability Index, housing affordability weakened nationally in March compared to the previous month. The monthly mortgage payment increased by 2.8%, while the median price of single-family homes increased by 2.4%. The monthly mortgage payment increased by $57 from last month. Compared to one year ago, affordability fell in March as the monthly mortgage payment climbed by 7.7% and median family income rose by 5.2%… (Bidenomic!) https://www.nar.realtor/blogs/economists-outlook/mortgage-rates-push-housing-affordability-down-in-march-2024 Ukrainian drones strike Russian fuel depot, officials say https://t.co/uvP5K37Kcj The IMF: Geopolitics and its Impact on Global Trade and the Dollar Some countries are reevaluating their heavy reliance on the dollar in their international transactions and reserve holdings… (This is an enormous development, and it is being largely ignored!!!) https://www.imf.org/en/News/Articles/2024/05/07/sp-geopolitics-impact-global-trade-and-dollar-gita-gopinath Renowned economist @spomboy: This is hugely important. After weaponizing the dollar by freezing Russia’s dollar assets post-Ukraine invasion, congress just doubled-down, confiscating those assets with its REPO bill to fund the wars in both Ukraine and Israel. The message to the rest of the world is loud and clear. But it is completely missed by Wall St., fixating on insignificant daily squiggles btw one paper currency and another and the DXY index. They imagine the dollar is ‘strong’ even as its share of global FX reserves plunges to the lowest level in 29 yrs. It’s time to wake up! (Tis why gold has soared!) https://twitter.com/spomboy/status/1788343903889784895 ESMs traded moderately lower when the Nikkei opened. They then traded sideways until they commenced a decline near 23:53 ET that eventually took ESMs to a daily low of 5195.00 at 5:19 ET. ESMs then stair-stepped higher until 9:06 ET. An early dump pushed ESMs down to 5204.25 at 9:41 ET. Opening dip buyers and day traders then got jiggy; ESMs soared to a daily high of 5232.75 at 11:05 ET. After a 12-handle retreat by 11:56 ET, ESMs intractably plodded higher, finally hitting a daily peak of 5240.50 at 16:00 ET. USMs were +8/32 at the NYSE close after hitting a low of -19/32 at 8:20 ET. Traders ignored SF Fed President Mary Daly’s refutation of Powell’s rate outlook; Mary is the third straight Fed official to contradict Powell.Fed’s Daly: It is far too early to declare labor market fragile and falteringFed’s Daly: I still see a really healthy labor market and inflation that is too highFed’s Daly: Fed policy is restrictive but it may still take time to bring inflation down Someone Is Lying: Atlanta Fed Claims US GDP Is 4.2% While DOE Reports Lowest Gasoline, Diesel Demand Since Covid https://t.co/u1I1C3uoFQ Positive aspects of previous session Rate cut hopes fueled a robust equity rally. The S&P 500 Index closed above 5200 (5214.08) Negative aspects of previous session The NY Fang+ Index closed DOWN 23.939 points Bonds were negative during morning NYSE trading Gold soared; Gasoline and oil rallied Ambiguous aspects of previous session Will more Fed officials openly contradict Powell’s rate dovishness? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5203.26 Previous session S&P 500 Index High/Low: 5215.30; 5180.41 Biden says he will stop sending bombs and artillery shells to Israel if it launches major invasion of Rafah https://www.cnn.com/2024/05/08/politics/joe-biden-interview-cnntv Biden vows US will not supply weapons for Israel’s offensive attack on Hamas-controlled Rafah Biden’s threat drew swift condemnation from Israel supporters in Congress and followed days of obfuscation by the White House about reports the administration had stopped the transmission of powerful precision bombs… “Eighty years ago in the Holocaust, the Jewish people were totally defenseless against those who sought our destruction. No nation came to our aid. Today, we again face enemies bent on our destruction,” Netanyahu said. “I say to the leaders of the world: No amount of pressure, no decision by any international forum will stop Israel from defending itself… We will defeat our genocidal enemies. “‘Never again’ is now.” https://nypost.com/2024/05/08/us-news/biden-warns-israel-im-not-supplying-the-weapons-for-rafah-offensive/ Ex-DJT Ambassador to Israel @DavidM_Friedman: Biden has now said expressly that he will cut off weapons to Israel if Israel invades Rafah. Let’s be brutally clear here — Israel cannot defeat Hamas without entering Rafah, where Hamas maintains four fully functioning battalions. Biden is siding with Hamas over Israel — there’s no other way to say it… (Obama and his comrades strike again!) @academic_la: This move takes away any leverage Israel could have achieved from even the threat of going into Rafah. It completely undermines the Israeli bargaining position for the hostage release talks. It is pulling out the rug at a crucial moment. @CurtisHouck: CNN’s @ScottJenningsKY absolutely DESTROYS Biden for the double standard of the first Trump impeachment over holding Ukraine aid while he’s now doing the same thing with aid to Israel. https://t.co/tW62SlJ4KP Biden faces internal Democratic blowback over paused on Israel weapons sales Rep. Ritchie Torres (D-N.Y.), who said on X the move “makes a mockery of our credibility as an ally,” had even more strident criticism for the president in a brief Capitol Hill interview… “I suspect it’s pandering to the far left,” the staunchly pro-Israel lawmaker told Axios. “It looks like election year politics was driving it. That’s my impression,” he added. “I’d like the president to do right by Israel and recognize that the far left is not representative of the rest of the country.”… https://t.co/zdadE4MFZg NYC’s ‘Squad’ members hail Biden’s Israel weapons pause, say ‘protesting is working’ https://t.co/R7OKZAMAej Furious Republicans accuse Biden of caving to anti-Israel protesters as ‘Squad’ Dems claim victory on Rafah https://t.co/SD21gTR4uC @Geiger_Capital: Joe Biden’s foreign policy, led by Antony Blinken, has been an absolute disaster. Major conflicts in every corner of the globe, a new crisis every few months, weakened US global perception and worse relationships with almost every world power. It’s not all a random coincidence. @LeeSmithDC: The issue isn’t Michigan, it’s the Party. Obama’s faction is pro-Iran, pro-Hamas… Saving Hamas: Why is the White House protecting a terror organization that killed Americans and holds other hostage? For the Obama faction to transform America, the Palestinians must win… Early in his first term Obama signaled he intended to undo that order when he gave a speech in Cairo and invited officials from the Muslim Brotherhood, existential enemies of the military regime then led by Hosni Mubarak. Within two years, the White House withdrew its support for Mubarak during the Arab Spring revolutions and ushered in a Muslim Brotherhood government. Egypt became the first pillar of the old U.S. security order to fall. Obama’s aides made it clear that his second term would be devoted to securing a nuclear deal with Iran… in fact, the agreement legalizes the clerical regime’s nuclear weapons program. Rather it was to realign U.S. interests with Tehran while stiffing traditional U.S. partners, especially Riyadh and Jerusalem, the other regional pillars of the American order. To cap off his eight years of dismantling the instruments of U.S. policy in the Middle East, Obama’s final foreign affairs initiative was to push a U.N. Security Council resolution adopting the Palestinian position that Israel was in violation of international law by occupying, among other places, historic Jewish holy sites… https://t.co/KZtlhuLeQP GOP Sen. @TomCottonAR: Biden’s disgraceful comments are a gift to Hamas. And he knows it. To the Democrats who support Israel: speak out. Biden is listening to the antisemites who want Israel destroyed. He needs to hear from you. The House has no choice but to impeach Biden based on the Trump-Ukraine precedent of withholding foreign aid to help with reelection. Only with Biden, it’s true. Biden threatened with IMPEACHMENT for withholding Israeli aid as fuming Republicans insist ‘no military on earth’ could do more to protect civilians https://t.co/bszglazPor House GOP (Rep. Cory Mills) drafting Biden impeachment articles over Israel aid cutoff threat https://www.foxnews.com/politics/house-gop-drafting-biden-impeachment-articles-israel-aid-cutoff-threat GOP Rep.@ CoryMillsFL: The yellow highlighted area was verbatim of Rep. Nadler’s impeachment articles accusing and impeaching President Trump for “Quid Pro Quo”. I have submitted to House counsel and will pursue action tomorrow morning using the Dems’s own language, but Biden’s actual abuse of power. Quid Pro Joe https://twitter.com/CoryMillsFL/status/1788665207092392014 @SenateGOP): Senate Republicans hold a press conference on Joe Biden restricting weapons for Israel. LIVE moments HERE: https://twitter.com/SenateGOP/status/1788604510979457403?s=02 @BarakRavid: Democratic mega-donor Haim Saban wrote an email to Biden’s aides Steve Ricchetti & Anita Dunn about Biden’s decision to put on hold a weapons shipment to Israel: “Let’s not forget there are more Jewish voters who care about Israel than Muslim voters who care about Hamas.” https://t.co/HdeI9iOL3W Speaker Johnson calls Biden ‘off script’ with threats to pull Israel support: ‘I hope it’s a senior moment’ https://t.co/DLAfnWVDLj Team Obama-Biden read Johnson as being a doofus that they could roll. They were right! @APbrooklyn29: New details from President Biden’s conversation with Prime Minister Netanyahu on Monday. Biden told Netanyahu in a conversation that lasted about an hour and a half that the US intends to stop arms shipments to the IDF if Israel enters Rafah. Netanyahu, according to sources privy to the content of the conversation, replied: “If we have to, we will fight with our nails.” https://twitter.com/APbrooklyn29/status/1788564040043626781?s=02 Biden claims inflation was 9% when he came into office — when it actually was 1.4% https://t.co/L2Oj5crNFc Look At His Face! Biden Denies Economic Reality in Car Crash CNN Interview He’s acting as if he’s hearing this economic data for the first time (Tis why Joe is kept under wraps!) During a brutal CNN interview aired Wednesday, Joe Biden looked shocked when host Erin Burnett reeled off a list of stats detailing how bad the economy is. Instead of suggesting how he is going to improve the situation, Biden denied any of it was real and claimed every poll showing Americans favoring Trump on the economy is wrong… When Burnett pointed out that Grocery prices are up almost a third, Biden shrugged it off and claimed Americans “have the money to spend.”… Biden also told an absolute whopper, claiming that inflation was 9 percent when he came into office, when in reality it was 1.4 percent… https://modernity.news/2024/05/09/look-at-his-face-biden-denies-economic-reality-in-car-crash-cnn-interview/ @RNCResearch: BIDEN (confused again): “If you look at the data, these demonstrations are real but they’re not nearly, I mean, look, and everybody — I made a speech on the Holocaust the other day.” https://twitter.com/RNCResearch/status/1788348249272680603 Biden tries and fails (badly) at insulting President Trump: “The guy is not a Democrat with a small D!” https://twitter.com/RNCResearch/status/1788350494974337162 CNN: “Grocery prices are up 30%+ … that’s a real day-to-day pain that people feel…” BIDEN: “They have the money to spend!”…repeats the debunked lie about Snickers bars and “corporate greed.” https://twitter.com/RNCResearch/status/1788347473892638830 CNN’s John King skewers Biden for claiming Americans are actually “in good shape economically“: “The inflation drag, the cost of living drag, is still GIANT out in America — and they don’t like people in Washington telling them they’re wrong.” https://t.co/ClUAISkSnB Joe Biden, Dearborn Shahid, Commits Political Suicide via Hamas Appeasement The doddering dolt from Delaware has been on a monthslong crusade to mollycoddle Hamas, a.. Foreign Terrorist Organization that slaughtered dozens of American citizens last October and still holds many hostage today in Gaza. The senile octogenarian, a mere puppet of his addlebrained ventriloquists, is now all in for Hamas… Biden’s political calculus, in short, is just as misguided as his moral calculus. The would-be shahid of Dearborn is in for a hard slog unless he recovers enough cognitive ability and common sense to overrule his woke staffers and change course immediately. https://t.co/ybYrSPCpBi Fed Balance Sheet: -$9.066B, Loans -$12.053B; Reserves at the Fed: -$- 24.964B Today – Stocks are extremely overbought; the DJIA has rallied for 7 straight sessions. But it’s Friday and Powell has given license to traders to bubble up stocks. “To the moon, Alice!” A passel of Fed officials speak: Gov Bowman 9 ET, Dallas Pres Logan and Min Pres Kashkari 10 ET, Chicago Pres Goolsbee 12:45 ET, VCEO for Supervision Barr give commence speech 13:30 ET NQMs are -+16.00; ESMs are +5.50; USMs are -4/32; and Gold is +14.10 at 20:20 ET. Expected economic data: May UM Sentiment 76.2, Current Conditions 79, Expectations 75, 1-yr Inflation 3.2%, 5-10-yr Inflation 3.0%; April Budget -$250.0B S&P Index 50-day MA: 5139; 100-day MA: 5005; 150-day MA: 4810; 200-day MA: 4716 DJIA 50-day MA: 38,738; 100-day MA: 38,400; 150-day MA: 37,110, 200-day MA: 36,483 (Green is positive slope; Red is negative slope) S&P 500 Index (5214.08) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 4619.92 triggers a sell signal Weekly: Trender and MACD are negative – a close above 5263.90 triggers a sell signal Daily: Trender and MACD are positive – a close below 5087.75 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5189.94 triggers a sell signal GWU anarchists call for beheadings of school administrators amid anti-Israel encampment https://www.foxnews.com/us/gwu-anarchists-call-for-beheadings-school-administrators-amid-anti-israel-encampment We’re old enough to remember when US university administrators penalized students for microaggressions and provided psychological counseling for students that were traumatized by Halloween masks and/or Trump’s election. Now they allow this stuff?!?! Trump is polling higher (46 to 45 for Joe) in Washington State than any Republican in decades https://t.co/IfD3BON1ox @RNCResearch: Biden in Wisconsin: “You got some senators I’d like to see changed, too!” Democrat Tammy Baldwin is the Wisconsin senator up for re-election. https://twitter.com/RNCResearch/status/1788306204344594581 NYC lawyer sparks probe into Trump judge Arthur Engoron over unsolicited advice on $455M civil fraud case – Adam Leitman Bailey — who had his law license suspended for four months in 2019 over the caught-on-tape tirade — claimed to NBC New York that he spoke with Manhattan Supreme Court Justice Arthur Engoron about the case three weeks before the judge issued his $455 million ruling against Trump in February… https://t.co/hb2osujja8 @paulsperry_: Trump prosecutor Matt Colangelo once clerked for liberal S.C. Justice Sotomayor and his wife Annie Small once clerked for liberal Justice Breyer, whose office was source of Dobbs opinion leak. Small had donations in memory of her late father made to Planned Parenthood in ’20… (The Dobbs Memo leaker is finally named by a journalist!) After Gaza – A Tablet roundtable about the challenges facing Israel in Gaza, Lebanon, and Washington, with Elliott Abrams, Jeremy Ben-Ami, Amiad Cohen, Michael Doran, Jon Greenwald, and Lee Smith Israel had barely begun its military operation in Gaza, after Hamas slaughtered 1,200 people and kidnapped 240 more, when the Biden administration began talking about what would need to happen the day after the war was over. “There has to be a vision of what comes next,” President Biden said on Oct. 25, 2023. Subsequently, the term “the Day After” was everywhere. In part, it was a device used to cast doubt on the Israeli military operation altogether, presenting it as an emotional response born of trauma and driven by a desire for vengeance—base instincts that can be tolerated only for so long. Sure, smashing things might bring immediate, short-term gratification, but what’s the plan for “the Day After”?… The Biden administration is also helping, with its voice, to advance the objectives of Iranian political warfare. By sparking “the Day After” debate, Washington is doing Tehran’s work for it, creating the impression, globally, that the issue of Palestinian sovereignty is the core problem to be solved and that, moreover, the Israelis are the primary impediment to the achievement of that sovereignty. Amiad Cohen: In 1943, during World War II, President Roosevelt stated in a press conference, “Peace can come to the world only by a total elimination of German and Japanese war power. This involves the simple formula of placing the objective of this war in terms of an unconditional surrender by Germany, Italy, and Japan. It does not mean the destruction of the population of Germany, Italy, or Japan, but it does mean the destruction of the philosophies.”… https://www.tabletmag.com/sections/israel-middle-east/articles/after-gaza-roundtable?s=02 @DrEliDavid: How Golda Meir responded to Kissinger when he tried to bully her (Movie “Golda”) https://twitter.com/DrEliDavid/status/1788463107611738207 Chris Cuomo Makes Ivermectin About-Face After Denouncing Its Use for COVID: ‘I Am Now Taking a Regular Dose’… to deal with his own struggles with long-term effects of an infection… When Cuomo was still a CNN anchor, he and colleague Don Lemon ridiculed its use.. https://www.yahoo.com/news/chris-cuomo-makes-ivermectin-face-210453781.html @TheBabylonBee: Birthrates Continue to Plunge Despite Wide Pool of Available Men Who Are Good at Both Video Games and Quoting Star Wars https://t.co/VG3zfMXpFZ | |
GREG HUNTER
Cuomo Vax Injury, Trump Trials Fail, Failing Banks Coming
By Greg Hunter On May 10, 2024 In Weekly News Wrap-Ups5 Comments
Greg Hunter’s USAWatchdog.com (WNW 633 5.10.24)
A CV19 vax injury that will help wake up the world has been reported. Former CNN News anchor Chris Cuomo is on the airwaves telling the story of his CV19 vaccine injury. He says he has “inflammation” and “brain fog.” Cuomo reveals he is being treated on a regular basis with Ivermectin. Good move, Chris. Sure, Cuomo is eating crow now after he “shamed” people on air who were using Ivermectin to treat Covid a few years ago. I don’t want anybody to be sick from this evil vax or allow it to cut decades off their lives. This is more about waking people up to the fact they need treatment, like Cuomo is getting. Millions of the CV19 vaxed are NOT getting treatment, and Cuomo can shine a light on how they need to be treated with things like Ivermectin to fight the negative effects of the CV19 bioweapon vax. Ivermectin is a cheap, safe and effective “miracle” drug, and more people need to be treated.
All the lawfare (like warfare) cases against Donald Trump seem to be falling apart at the same time. Now, there is evidence from Missouri Attorney General Andrew Bailey all the cases against President Trump may have been conceived around the same time by the Biden Administration. AG Bailey says he is demanding the DOJ turn over all communications of the illicit prosecutions of President Trump. Bailey says he has evidence that all the prosecutions against Trump were coordinated by President Biden’s minions. Legendary fight promoter Don King says, “We must elect Trump in 2024 to save ourselves.” King might get his wish because it looks like the Biden lawfare cases are not going to stop Trump.
Top people in the financial world are telling the public to brace for bank failures—a lot of them. One billionaire investor named Barry Sternlicht says there will come a time when bank failures will be happening each and “every week.” Sternlicht says, “We are entering a new dark age.”
There is much more in the 53-minute newscast.
There is an 8-minute video to explain how easy it is to ride out any terror attack or extreme storm. You can get more information at Sat123.com or BeReady123.com.
Join Greg Hunter of USAWatchdog.com as he talks about these stories and more in the Weekly News Wrap-Up for 5.10.24.
SEE YOU ON MONDAY
TO ALL OUR MOTHERS OUT THERE A VERY HAPPY MOTHER’S DAY
AND TO ALL OUR FATHERS OUT THERE WHO MADE OUR MOTHERS VERY HAPPY
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