PLEASE IGNORE SPELLING MISTAKES AS I AM TYPING AND GETTING DATA WITH MY RIGHT HAND
THANKS H
GOLD PRICE CLOSED UP $17.10 TO $2354.00
SILVER PRICE UP $0.25 TO $28.50
Gold ACCESS CLOSED $2356,85
Silver ACCESS CLOSED: $28.58
Bitcoin morning price:$61,915 DOWN 1392 DOLLARS.
Bitcoin: afternoon price: $61,683 UP 1624 dollars
Platinum price closing UP $31.55 TO $1035.00
Palladium price; DOWN $15,63 AT $981.63
END
SHANGHAI GOLD PREMIUM 37 DOLLARS/COMEX GOLD
SHANGHAI GOLD
SHANGHAI GOLD (USD) FUTURES – QUOTES
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 14 May 2024 02:53:49 PM 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: $3217. UP 21.12 CDN dollars per oz( * NEW ALL TIME HIGH 3,301.52 CDN DOLLARS PER OZ//APRIL 16 2024)
*BRITISH GOLD: 1871.67 UP 10.03 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2178.02 UP 11.31 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)
DONATE
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
END
EXCGE: COMEX
ACCESS MARKET
EXCHANGE: COMEX
CONTRACT: MAY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,336.100000000 USD
INTENT DATE: 05/13/2024 DELIVERY DATE: 05/15/2024
FIRM ORG FIRM NAME ISSUED STOPPED
624 H BOFA SECURITIES 10
732 C RBC CAP MARKETS 2
737 C ADVANTAGE 10 2
TOTAL: 12 12
MONTH TO DATE: 1,934
MONTH TO DATE: 1,922
JPMorgan stopped 0/12
FOR MAY2024
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 12 NOTICES FOR 1200 OZ or 0.03215 TONNES
total notices so far: 1934 contracts for 193400 Oz (6.0155 tonnes)
FOR MAY:
SILVER NOTICES: 120 NOTICE(S) FILED FOR 660,000 OZ/
total number of notices filed so far this month : 5730 for 28.650 million oz
XXXXXXXXXXXXXXXXXX
Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation
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 DOWN 31.10
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 831.33TONNES
INVENTORY RESTS AT 831.33 TONNES
SLV//
WITH NO SILVER AROUND AND
SILVER DOWN 4 CENTS AT THE SLV//
NO CHANGES IN SILVER INVENTORY AT THE SLV:
// INVENTORY REMAIN CONSTANT AT 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 HUMONGOUS SIZED 815 CONTRACTS TO 168,370 AND CONTINUING TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED DESPITE OUR LOSS OF $0,04 IN SILVER PRICING AT THE COMEX ON MONDAY. 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 631 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 MONDAY NIGHT: 631 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.04 AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE HAD A HUMONGOUS SIZED GAIN OF 1565 CONTRACTS ON OUR TWO EXCHANGES WITH THE LOSS IN PRICE OF $0.04
WE MUST HAVE HAD:
A HUGE SIZED 750 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 870,000 OZ
//NEW STANDING FOR SILVER//MAY IS THUS 29.345 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 631 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED A 214 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 10 DAYS, total 6204 contracts: OR 31.020 MILLION OZ (620 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 22.975 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: 31.02 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 815 CONTRACTS DESPITE OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 750 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 29.345 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 870,000 OZ QUEUE JUMP
//NEW TOTAL STANDING AT 29.345 MILLION OZ
WE HAVE A HUMONGOUS SIZED GAIN OF 1565 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 631 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS
THE NEW TAS ISSUANCE MONDAY NIGHT (631 WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 120 NOTICE(S) FILED TODAY FOR 600,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A STRONG SIZED 7036 OI CONTRACTS TO 522,331 AND FURTHER FROM 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: ADDED 349 CONTRACTS
WE HAD A STRONG SIZED DECREASE IN COMEX OI (7036 CONTRACTS) OCCURRED WITH OUR HUGE LOSS $31.10 IN PRICE/MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER TRYING TO CONTAIN GOLD’S PRICE RISE. THE LOSS IN COMEX OI WAS DUE TO SPREADER (T.A.S) LIQUIDATION. 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 10000 OZ QUEUE JUMP//NEW STANDING INCREASES TO 6.0310 TONNES
NEW STANDING 6.031 TONNES// ALL OF THIS HAPPENED DESPITE OUR $31.10 LOSS IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED LOSS OF 3565 OI CONTRACTS (11.088 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3850 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 522,331
IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3186 CONTRACTS WITH 7036 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3850 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 3565 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): ANOTHER MEGA HUMONGOUS SIZED 31,898 CONTRACTS,, THE 5TH HIGHEST EVER RECORDED FROM INCEPTION OF THIS INSIDIOUS SPREADER CONTRACT
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3850 CONTRACTS) ACCOMPANYING THE STRONG LOSS IN COMEX OI 7036/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 3565 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 1000 OZ QUEUE JUMP
//NEW STANDING /MAY 6.031 TONNES.
/ 3) MASSIVE LONG-SHORT LIQUIDATION MOSTLY DUE TO SPREADERS WEITH THE HUGE LOSS IN PRICE.
// 4) STRONG SIZED COMEX OPEN INTEREST LOSS 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///6: MEGA-MEGA HUMONGOUS T.A.S. ISSUANCE: 31,898 CONTRACTS/ HUGE SHORT COVERING BY OUR WRONG FOOTED SPECS WITH THE FED’S CONTINUAL FRUITLESS 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: 42263 CONTRACTS OR 4,226,300 OZ OR 131.660 TONNES IN 10 TRADING DAY(S) AND THUS AVERAGING: 4226EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 10 TRADING DAY(S) IN TONNES 131.660 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2022, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 131.66DIVIDED BY 3550 x 100% TONNES = 3.76% 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; 131.66 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 815 CONTRACTS OI TO 168,370 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 750 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 750 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:750 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 1639 CONTRACTS AND ADD TO THE 750 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2389 CONTRACTS
THUS IN OUNCES, THE HUGE GAIN ON THE TWO EXCHANGES TOTALS 7.825 MILLION OZ
OCCURRED WITH OUR TINY $0.04 LOSS IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 2.25 PTS OR 0.07% //Hang Seng CLOSED DOWN 41.35PTS OR 0.22%// Nikkei CLOSED UP 176,60 OR 0.46%//Australia’s all ordinaries CLOSED DOWN 0.30%///Chinese yuan (ONSHORE) closed DOWN TO 7,2341 CHINESE YUAN OFF SHORE CLOSED DOWN TO 7.2372/ Oil DOWN TO 78,87 dollars per barrel for WTI and BRENT DOWN AT 82.97 /Stocks in Europe OPENED ALL MIXED
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED 7036 CONTRACTS TO 522,331 WITH OUR HUGE LOSS IN PRICE OF $31.10 WITH RESPECT TO MONDAY TRADING. WE HAD ANOTHER MEGA HUMONGOUS 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A FAIR SIZED 3850 EFP CONTRACTS WERE ISSUED: : JUNE 3850 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE:3850 CONTRACTS
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3186 CONTRACTS IN THAT 3850 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 7036 COMEX CONTRACTS..AND THIS STRONG LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR HUGE LOSS IN PRICE OF $31.10 MONDAY 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 MONDAY NIGHT WAS ANOTHER MEGA HUMONGOUS SIZED 31,898 CONTRACTS.(5 NIGHTS IN A ROW OF HUGE ISSUANCE AND THE MONDAY NIGHT ISSUANCE WAS THE 5TH HIGHEST EVER RECORDED WITH RESPECT TO COMEX HISTORY) WE HAD 0 EX FOR RISK ISSUANCE. MOST OF THE TRADING AND SUPPLY OF CONTRACTS ON FRIDAY 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 (6.031 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 6.031 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY A HUGE $31.10 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS ALL THE LIQUIDATION CAME FROM SPREADERS (TAS)
WE HAD ANOTHER HUGE T.A.S. LIQUIDATION ON THE FRONT END OF MONDAY’S TRADING. THE T.A.S. ISSUED ON MONDAY 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 AND MOST LIKELY ON MONDAY TRADING.
WE HAVE LOST A TOTAL OI OF 9.909 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 10 CONTRACTS OR 1000 OZ ( .0311 TONNES)
NEW STANDING: 6.031 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $31.10
WE HAVE ADDED 379 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET LOSS ON THE TWO EXCHANGES 3186 CONTRACTS OR 318600 (9.909 TONNES)
confirmed volume MONDAY 306,520 contracts// good
//speculators have left the gold arena
MAY 14 MAY GOLD
/ /// THE MAY 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 3086.508 OZ malca brinks 45 and 51 kilobars . |
| Deposit to the Dealer Inventory in oz | 00 oz |
| Deposits to the Customer Inventory, in oz | 1704.01 brinks 55 kilobars |
| No of oz served (contracts) today | 12 notice(s) 1200 OZ 0.03215 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 | 1914 notices 191400 oz 6.0155 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: 2
I) 1446.795 OZ 45 KILOBARS
ii) 1639.710 oz 51 kilobars
TOTAL WITHDRAWALS 3086.508 0z
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAY
For the front month of MAY we have an oi of 37 contracts having lost 105 contracts.
We had 115 contracts served on MONDAY, so we gained 10 contracts or 1000 oz (0.0311 Tonnes).
JUNE DECREASED ITS OI BY 29,714 CONTRACTS DOWN TO 255,250 CONTRACTS.
JULY GAINED 45 CONTRACTS TO STAND AT 249
We had 12 contracts filed for today representing 1200 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 12 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 (1934) x 100 oz ) to which we add the difference between the open interest for the front month of MAY ( 37 CONTRACTS) minus the number of notices served upon today (12 x 100 oz per contract( equals 193,900 OZ OR 6.031TONNES.
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (1934x 100 oz + (37 OI for the front month} minus the number of notices served upon today (12 x 100 oz which equals 193,900 oz (6.031 TONNES)
TOTAL COMEX GOLD STANDING FOR MAY: 6.031 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: 1,566,324.496 48.71 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,459,628.558 OZ
TOTAL REGISTERED GOLD 7,328,073,702 ( 227.93 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,131,554.628.178 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 5,761,749 oz (REG GOLD- PLEDGED GOLD)= 177.28 tonnes
179.36 tonnes/dropping like a stone
END
SILVER/COMEX
MAY 14
INITIAL
//2024// THE MAY 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 118,102.024 oz delaware cnt . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 720,158,180 oz DELAWARE cnt loomis |
| No of oz served today (contracts) | 120 CONTRACT(S) (600,000 OZ) |
| No of oz to be served (notices) | 139 contracts (0.695 million oz) |
| Total monthly oz silver served (contracts) | 5730 Contracts (28.650 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 3 deposits customer account:
i) Into delaware; 2931.80 oz delaware
ii)into cnt; 598,740.180 oz
iii) into loomis 118,486.200
total customer deposit 720,158.180 oz
JPMorgan has a total silver weight: 129,598million oz/297.858 million or 43.62%
adjustment: 2
customer to dealer 520,326.020 hsbc
dealer to customer; 296,299.208 oz manfra
Comex withdrawals: 2
i) out of delaware 76,007.511 oz
ii out of cnt 43,094.510 oz
total withdrawal 118,102.034 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: 259 CONTRACTS HAVING GAINED 108 CONTRACT(S).
.
We had 66 notices served on MONDAY so we GAINED 174 contracts or 870 oz underwent a STRONG QUEUE JUMP AS THEY WERE SET TO TAKE DELIVERY ON THIS SIDE OF THE POND.
JUNE SAW A GAIN OF 82 CONTRACTS RISING TO 1509
JULY SAW A LOSS OF 86 CONTRACTS UP TO 136,007
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 120 for 600,000 oz
CONFIRMED volume; ON FRIDAY 68,417 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 5730 x 5,000 oz = 28.650MILLION oz
to which we add the difference between the open interest for the front month of MAY (259 and the number of notices served upon today 120x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MAY/2024 contract month: 5730 notices served so far) x 5000 oz + OI for the front month of MAY (259 number of notices served upon today minus (120x 5000 oz of silver standing for the may contract month equates to 29.345 MILLION OZ.
New total standing: 29.345 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 14 WITH GOLD DOWN $31.10 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//
///INVENTORY RISES TO 831.33 TONNES
MAY 13 WITH GOLD DOWN $31.10 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF .86 TONNES OF GOLD INTO THE GLD////INVENTORY RISES TO 831.33 TONNES
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 14 WITH SILVER DOWN 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV;;
INVENTORY RESTS AT 422.227 MILLION OZ
MAY 13 WITH SILVER DOWN 4 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV;;
INVENTORY RESTS AT 422.227 MILLION OZ
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
3. CHRIS POWELL//GATA DISPATCHES
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS /LIVE FROM THE VAULT
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT//COPPER
with the copper shortage this merger will be good for anglo
zero hedge
Anglo Goes Bold: Unveils Breakup Plan To Transform Into Copper Giant Amid BHP Takeover Battle
TUESDAY, MAY 14, 2024 – 07:45 AM
London-listed Anglo-American has unveiled a “clear, compelling, and decisive plan to unlock significant value from its portfolio.” This strategy involves selling its platinum and diamond business units while concentrating on copper, positioning itself to prosper off the ‘Next AI Trade’ as data centers and power grids will use an enormous amount of the base metal to ‘power up’ the digital economy. Also, it’s a move to thwart a hostile takeover attempt from BHP Group.
Anglo was forced to radically transform itself into a copper giant because of BHP’s twice-rejected takeover bid, now worth £34 billion ($43 billion). The move also responds to shareholder pressure to focus on copper assets and demerge its stakes in less profitable ones, such as its steelmaking unit, coal business, Anglo American Platinum, and De Beers (diamonds).
Anglo Chief Executive Officer Duncan Wanblad’s major overhaul aims to replicate rival BHP CEO Mike Henry’s proposed idea of transforming Anglo into one of the world’s biggest copper giants.
Financial Review noted that Wanblad plans to wait until after the South African elections on May 29 before announcing his complete restructuring of the company, which will need South African government approval for a demerger of its platinum and diamond mines.
“The only thing the BHP bid [did] was force the timeline on work we were already doing,” Wanblad said on a call at 0300 ET. He will present the overhaul plan at the Bank of America Global Metals, Mining & Steel Conference in Miami, Florida, today.
He continued, “I would probably not have announced this at this particular point in time, it would have been just a little bit later … I would have been much more sensitive in terms of the stakeholder management of this, but I now have no option.”
In markets, Anglo shares in London slipped by 3%, while BHP’s shares increased by 3%, reflecting the market’s perception of a reduced takeover probability.
“The outcome of Anglo’s strategic review will not have changed BHP’s plans, but they are probably actively assessing where they are now in light of this,” said Lachlan Shaw, an analyst from UBS Group AG.
Joshua Mahoney, chief markets analyst at Scope Markets, wrote in a note, “The decision to spin off their diamond, platinum, and coal mining operations will see a greater focus on copper.”
Mahoney said, “With copper rising into a fresh two-year high this morning, there is a clear surge in demand for this key material as the world progressively moves towards increased electrification.”
Concentrating on copper assets is the correct move for Anglo, as Goldman’s Nicholas Snowdon penned in a note last week for clients that metal market is “moving into extreme tightness.”
Last month, being uber-bullish on copper, Snowdon wrote, “Copper’s time is now“ (available to pro subscribers in the usual place)…
Separately, Bank of America’s commodity desk jumped on the copper trade, warning that a “supply crisis is here.”
In December, billionaire mining investor Robert Friedland explained to Bloomberg TV in an interview that copper prices are set to soar because the mining industry is failing to increase supply ahead of ‘accelerating demand.’ He warned:
“We’re heading for a train wreck here.”
As we’ve noted in “The Next AI Trade” & “Everyone Is Piling Into The “Next AI Trade””, as well as “The “Next AI Trade” Just Hit An All Time High,” – data center demand and powering up America will need copious amounts of copper, at a time when mining supplies are dwindling. We all know what that means for price.
END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
END
ASIA TRADING//TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 2.25 PTS OR 0.07% //Hang Seng CLOSED DOWN 41.35PTS OR 0.22%// Nikkei CLOSED UP 176,60 OR 0.46%//Australia’s all ordinaries CLOSED DOWN 0.30%///Chinese yuan (ONSHORE) closed DOWN TO 7,2341 CHINESE YUAN OFF SHORE CLOSED DOWN TO 7.2372/ Oil DOWN TO 78,87 dollars per barrel for WTI and BRENT DOWN AT 82.97 /Stocks in Europe OPENED ALL MIXED
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.2341
OFFSHORE YUAN: DOWN TO 7.2372
SHANGHAI CLOSED DOWN 2.25 PTS OR 0.07 %
HANG SENG CLOSED DOWN 41.35 PTS OR 0.22%
2. Nikkei closed UP 176,60 PTS OR 0.46 %
3. Europe stocks SO FAR: ALL MIXED
USA dollar INDEX DOWN TO 105.03 EURO RISES TO 1.0797 UP 7 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +.941 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.61 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: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.5345/Italian 10 Yr bond yield UP to 3.891 SPAIN 10 YR BOND YIELD UP TO 3.325%
3i Greek 10 year bond yield UP TO 3.346
3j Gold at $2347.00//Silver at: 28.46 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 23 100 roubles/dollar; ROUBLE AT 91.23
3m oil into the 78 dollar handle for WTI and 82 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 156.61/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.941% 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 0.9081 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9808well 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: 4.495 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.643 UP 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.861 UP 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.27…(TURKEY)
10 YR UK BOND YIELD: 4.2124 UP 1 PTS
2a New York OPENING REPORT
2B EUROPE OPENING/TRADING
Equities trade tentatively ahead of US PPI & Fed Chair Powell; GBP softer post-Pill – Newsquawk US Market Open
TUESDAY, MAY 14, 2024 – 06:06 AM
- Equities are mixed, with trade tentative ahead of US PPI & Powell
- Dollar is flat, GBP softer following commentary from BoE’s Pill
- Bonds are firmer, taking a further leg higher after BoE’s Pill before paring on ZEW
- Crude is flat with oil-specific newsflow light, XAU is firmer and base metals are mixed
- White House says US President Biden is directing the USTR to increase tariffs on USD 18bln of imports from China
- Looking ahead, US PPI, OPEC MOMR, Comments from ECB’s Schnabel, Fed Chair Powell & Cook. Earnings from Home Depot
More Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx600 (+0.1%) are mixed and lack any firm direction, continuing the indecisive performance in APAC trade overnight.
- European sectors hold little bias with the breadth of the market fairly narrow. Autos is found at the top of the pile, building on the prior day’s gains, whilst Travel & Leisure is weighed on by Flutter (-2.5%) post-earnings.
- US Equity Futures (ES U/C, NQ +0.1%, RTY +0.1%) are mostly and modestly firmer, with trade tentative ahead of today’s PPI. Elsewhere, the White House says US President Biden is directing US Trade Representative to increase tariffs on USD 18bln of imports from China (in-fitting with recent reports).
- Click here and here for the sessions European pre-market equity newsflow.
- Click here for more details.
FX
- Dollar is a touch firmer vs. most peers and briefly popping above yesterday’s 105.36 high in quiet trade, though with traders mindful of today’s PPI, and CPI on Wednesday, in addition to Chair Powell at 15:00BST/10:00ET.
- EUR is steady vs the USD after the pair failed to hold above the 1.08 mark. EUR/USD is currently contained within yesterday’s 1.0765-1.0806 bounds with newsflow light, ZEW data failed to move the markets.
- GBP is the laggard across the majors. GBP was choppy following mixed jobs data, though commentary from BoE’s Pill sent Sterling lower. The Chief Economist continued to talk up the possibility of rate cuts. Cable down as low as 1.2510 with eyes on a test of 1.25; not breached since May 9th.
- JPY is once again losing ground to the USD with markets bracing for upcoming US inflation prints, which could be the next inflection point for the pair. USD/JPY has been as high as 156.56 with not much in the way of resistance until 157.
- Mildly diverging fortunes for the antipodes with NZD edging out moderate gains vs. the USD. AUD/USD is holding above the 0.66 mark and respecting yesterday’s 0.6587-0.6628 range in quiet trade.
- PBoC set USD/CNY mid-point at 7.1053 vs exp. 7.2307 (prev. 7.1030).
- Click here for more details.
FIXED INCOME
- USTs are incrementally firmer but with magnitudes much more contained than EGBs as we await US PPI ahead of Wednesday’s CPI print. USTs at the top-end of 108-24 to 108-29 bounds which are contained by Monday’s 108-23 to 109-00 parameters.
- Gilts initially gapped lower by just 11 ticks to 97.52 following the morning’s data which was hawkish on the wage components, though upticks in unemployment and another sizeable negative employment change provided some dovish reprieve. Speak from BoE’s Pill thereafter lifted Gilts to a 97.89 peak just shy of Monday’s 97.93 best.
- Bunds are flat after initially being supported in tandem with Gilt price action; the ZEW data once again came in stronger than expected and prompted Bunds to pullback to the 131.00 mark. Bunds to a 131.13 peak post-Pill matching Monday’s best.
- Click here for more details.
COMMODITIES
- Subdued trade across the crude complex following yesterday’s gains, which saw the contract settle higher but off best levels in a day with light oil newsflow. Brent Jul’24 sits within a USD 82.98-83.62/bbl parameter.
- Precious metals hold an upward bias despite the stronger Dollar, with outperformance in spot palladium this morning whilst spot gold remains caged ahead of the aforementioned risk events including US PPI and Fed Chair Powell later; XAU sits within a tight USD 2,334.89-2,345.99/oz intraday range thus far.
- Mixed trade across base metals with 3M LME copper futures flat but holding onto a USD 10k+ status, while aluminium prices are subdued following another large warehouse stock metric (+131k/T).
- OPEC OMR due at 11:00BST/06:00ET today
- LME Stocks: Aluminium +131k/T.
- Peru copper production dipped slightly in March and was down 0.1% Y/Y, according to government data.
- Click here for more details.
DATA RECAP
- UK Avg Earnings (Ex-Bonus) (Mar) 6.0% vs. Exp. 5.9% (Prev. 6.0%); Avg Wk Earnings 3M YY (Mar) 5.7% vs. Exp. 5.5% (Prev. 5.6%, Rev. 5.7%)
- UK Employment Change (Mar) -177k vs. Exp. -215k (Prev. -156k); ILO Unemployment Rate (Mar) 4.3% vs. Exp. 4.3% (Prev. 4.2%); UK HMRC Payrolls Change (Apr) -85k (Prev. -67k, Rev. -5k); UK Claimant Count Unem Chng (Apr) 8.9k (Prev. 10.9k, Rev. -2.4k)
- German ZEW Economic Sentiment (May) 47.1 vs. Exp. 46.0 (Prev. 42.9); ZEW Current Conditions (May) -72.3 vs. Exp. -75.8 (Prev. -79.2); Signs of an economic recovery are growing – bolstered by better assessments of the Eurozone and China as a key export market.
- EU ZEW Survey Expectations (May) 47 (Prev. 43.9)
- German HICP Final YY (Apr) 2.4% vs. Exp. 2.4% (Prev. 2.4%); HICP Final MM (Apr) 0.6% vs. Exp. 0.6% (Prev. 0.6%); CPI Final MM (Apr) 0.5% vs. Exp. 0.5% (Prev. 0.5%); CPI Final YY (Apr) 2.2% vs. Exp. 2.2% (Prev. 2.2%)
- Spanish HICP Final YY (Apr) 3.4% vs. Exp. 3.4% (Prev. 3.4%); HICP Final MM (Apr) 0.6% vs. Exp. 0.6% (Prev. 0.6%); CPI YY Final NSA (Apr) 3.3% vs. Exp. 3.3% (Prev. 3.3%); CPI MM Final NSA (Apr) 0.7% vs. Exp. 0.7% (Prev. 0.7%)
- Swiss Producer/Import Price YY (Apr) -1.8% (Prev. -2.1%); Producer/Import Price MM (Apr) 0.6% (Prev. 0.1%)
NOTABLE EUROPEAN HEADLINES
- BoE Chief Economist Pill says there is still some work to do on the persistence of inflation; not unreasonable to believe that over the summer, the BoE will see enough confidence to consider rate cuts. Not unreasonable to believe that over the summer, the BoE will see enough confidence to consider rate cuts; could cut and keep the stance restrictive. Question of when and how restriction is eased. Click here for full details.
- Even a very poor EZ inflation reading this month would not necessarily dissuade the ECB’s Governing Council from going through with the 25bp rate cut that has been amply signalled for its June meeting, according to a Eurosystem insider cited by Econostream.
NOTABLE US HEADLINES
- Moody’s revised the outlook on 412 US local government issuers from stable to no outlook, while it affirmed issuer and long-term underlying ratings, according to Reuters.
- White House says US President Biden is directing US Trade Representative to increase tariffs on USD 18bln of imports from China. Click here for full details.
- “The Irish govt has hinted it could could provide financial support to Intel (INTC) amid reports that the company is to set up a new plant in Ireland”, RTE’s Connelly.
GEOPOLITICS
MIDDLE EAST
- “Israeli tanks began to penetrate into the center of Rafah for the first time amid fierce clashes “, according to Al Arabiya
- “Lebanese agency: Israel used ‘seismic missiles’ in the town of Kafr Kila in southern Lebanon”, according to Al Arabiya
- Member of the Hamas Political Bureau told Al Arabiya they are committed to the path of the exchange deal negotiations.
- Heavy Israeli artillery shelling and heavy gunfire reported in the centre and east of the city of Rafah in the southern Gaza Strip, according to Al Jazeera.
- US officials said Israel has mobilised enough forces to launch a large-scale operation in Rafah but they are not sure if We are not sure if Israel has made a final decision to launch a large-scale operation in Rafah, according to CNN.
- US Deputy Secretary of State said we do not believe that the complete victory that Israel seeks to achieve is likely or possible, according to CNN.
- Hezbollah said it targeted two buildings used by enemy soldiers in the settlement of Metulla and achieved a direct hit, according to Al Jazeera.
- EU decided to broaden the scope of its sanctions framework to include not only provision of drones from Iran to Russia but also missiles. It also expands the sanctions regime geographically to cover the Middle East, according to a press release.
OTHER
- US Secretary of State Blinken arrived in Ukraine on a previously undisclosed trip and intends to send the signal of reassurance to Ukraine at a ‘very difficult moment’, while US-supplied artillery, ATACMS long-range missiles and air defence interceptors are already reaching Ukraine’s front lines from the new US aid package approved on April 24th, according to a US official cited by Reuters.
- US and Taiwan navies quietly held Pacific drills in April, while the exercises involved about a half-dozen ships from both sides but officially didn’t take place, according to a Reuters source. Furthermore, a source added that exercises were dubbed ‘unplanned sea encounters’ and gave the navies a chance to practice ‘basic’ operations.
CRYPTO
- Bitcoin on the backfoot and just shy of USD 62k, whilst Ethereum sits beneath USD 3k.
APAC TRADE
- APAC stocks lacked firm conviction after the indecisive performance in the US ahead of key events.
- ASX 200 was dragged lower by weakness in real estate and consumer staples ahead of the federal budget announcement, while Australian Treasurer Chalmers had previously cautioned against expectations for a welfare ‘cash splash’.
- Nikkei 225 was choppy amid a weaker currency, mixed earnings releases and relatively in-line PPI data.
- Hang Seng & Shanghai Comp were initially boosted at the open with strength in tech and real estate although the Hong Kong benchmark eventually faded most of the gains, while sentiment was dampened in the mainland amid the threat of looming US tariffs which are expected to be unveiled today, while developer default concerns also lingered after Agile Group missed a coupon payment and flagged an inability to fulfil all payment obligations.
NOTABLE ASIA-PAC HEADLINES
- China’s embassy said China remains open to cooperating with the US on repatriation of illegal immigrants but the US side should also demonstrate sincerity and address China’s concerns, creating a suitable atmosphere for such cooperation, according to Global Times.
- Japanese Finance Minister Suzuki said it is important for the government and BoJ to coordinate policy and it is important for currencies to move in a stable manner reflecting fundamentals, while he added they will take a thorough response for forex and are closely watching FX moves, according to Reuters.
- Former BoJ executive says the BoJ may decide to reduce the size of scheduled bond purchases next month amid largely dysfunctional bond market, adding that the BoJ is likely to hold off on raising rates until September, according to Reuters.
- Australian Budget: sees 2023/24 budget surplus at AUD 9.3bln (vs. Exp. AUD 9bln) and deficits in 2024/25 – 2026/27 (as expected). 2024/25 deficit AUD 28.3bln vs. Exp. AUD 13.9bln. 2023/24 CPI seen at 3.5%, 2024/25 at 2.75% 2025/26 at 2.75%. 2023/24 unemployment seen at 4.0%, 2024/25 4.5% and 2025/26 4.5%. 2023/24 GDP growth at 1.75%, 2024/25 at 2% and 2025/26 at 2.25%. Sees iron ore price falling to USD 60/tonne, thermal coal USD 70/tonne for Q1 2025.
EARNINGS
- Sony (6758 JT) 2023/24 (JPY): Net profit JPY 970.57bln (-3.5% Y/Y). Operating profit 1.21tln (-7.2% Y/Y). Guides FY Operating income at 1.28tln (exp. 1.33tln) plans to buyback up to JPY 250bln of own shares; to conduct 5-for-1 stock split effective Oct 1s; sees PS5 sales of 18mln units in the current financial year
- Hon Hai/Foxconn (2354 TT) Q1 (TWD): Net Income 22bln (exp. 29.1bln). Expects Q2 revenues to grow significantly Y/Y (prev. forecast to rise); Q2 revenue for smart consumer electronics to be flattish Y/Y (prev. forecast to be flat).
- Tencent (700 HK / TCEHY) Q1 (CNY): Revenue 159.50bln (exp. 158.81bln). Net Income 41.9bln (exp. 34.5bln); Stepped up our buyback plan, and are on track to repurchase over HKD 100bln of shares in 2024; Investing in AI technology
DATA RECAP
- Japanese PPI MM (Apr) 0.3% vs. Exp. 0.3% (Prev. 0.2%); YY (Apr) 0.9% vs. Exp. 0.8% (Prev. 0.8%, Rev. 0.9%)
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
end
3 CHINA
END
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
GERMANY
Germany now has a Muslim problem
REMIX
1000s Of Islamists Protest Against ‘Censorship’ After Calls For A Caliphate In Germenay Are Banned
TUESDAY, MAY 14, 2024 – 02:00 AM
Authored by Thomas Brooke via ReMix News,
The Salafist group organizers claimed unfair censorship after strict conditions were imposed on Muslims calling for a caliphate in Germany and against anti-Semitic rhetoric…
Thousands of Islamists took to the streets of Hamburg again on Saturday for what organizers called a “defense of Islamic values” in the face of political intimidation and media censorship.
The protest was organized by Muslim Interaktiv, a group under investigation by Hamburg’s domestic intelligence agency for “extremism.” It claimed on its social media accounts that over 6,000 Muslims had turned out to participate, although police estimates put the figure closer to 2,300.
The demonstration was in response to recent attempts by German politicians to restrict the group’s activities after a recent march in the port city sparked outrage amid calls for Germany to become a caliphate under Sharia Law, and participants chanted anti-Semitic slogans.
Muslim Interaktiv claimed it wanted to “set an example” to protect “Islamic identity,” and posted that the requirement for Muslims to “commit to Western values” was the “lie of the year.”
The demonstration was allowed to take place under strict conditions, which included a wholesale ban on anti-Semitic rhetoric, calls for a caliphate using any medium, and a ban on any incitement of hatred or violence.
Organizers called the conditions ahead of the march “repressive” and revealed it had been seeking legal advice to take action against the measures imposed on the group.
Attendees held placards claiming they were being censored by the German government.
After the controversial protest held last month, Germany’s Federal Interior Minister Nancy Faeser denounced the demonstration despite overseeing the country’s open borders immigration policy in recent years that has seen millions of Muslims, many of whom have originated from countries that practice fundamental Islam, arrive in Germany.
“Seeing an Islamist demonstration of this kind on our streets is difficult to bear. It’s a good thing that the Hamburg police counteracted crime with a large presence,” she told Tagesspiegel.
She told the Funke newspaper group last week the new conditions imposed on the group’s activities gave the police greater power to intervene and disperse the participants if necessary.
“Anyone who would rather live in a caliphate, and therefore in the Stone Age, is against everything that Germany stands for. We defend our constitution — with the means of our constitution,” she said.
END
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL/HAMAS///RAFAH/
Israeli tanks move deeper into Rafah, Palestinians say, as 450,000 flee
IDF says it’s looking into UN car hit in ‘active combat zone’; army says gun battles continuing in Rafah and north Gaza, dozens of gunmen killed
By AGENCIES and EMANUEL FABIAN FOLLOW
Today, 3:12 pm
Israeli troops operate in the Gaza Strip, in a handout photo published May 14, 2024. (Israel Defense Forces)
Israeli tanks forged deeper into eastern Rafah on Tuesday, reaching some residential districts of the southern border city where more than a million people had been sheltering after being displaced due the war against Hamas in Gaza.
“The tanks advanced this morning west of Salahuddin Road into the Brzail and Jneina neighborhoods. They are in the streets inside the built-up area and there are clashes,” one resident told Reuters via a chat app.
Video on social media showed one tank on George Street in Al-Jneina neighborhood. Reuters could not verify the video.
In a round-up of its activities, the IDF said its forces had eliminated several armed cells in close-quarter fighting on the Gazan side of the Rafah Border Crossing with Egypt. In the east of the city, it said, it had also destroyed cells of gunmen and a launch post from where missiles were being fired at IDF troops.
The latest fighting in Gaza came as Israel marked a dour Independence Day with subdued events in the shadow of October 7 and the seven-month-old war.
Israel’s international allies and aid groups have repeatedly urged against a ground incursion into refugee-packed Rafah, warning of a potential humanitarian catastrophe. Israel says it is acting to evacuate civilians ahead of moving into new areas. It says a Rafah operation is necessary as part of its effort to eliminate Hamas’s remaining operational battalions.
CNN reported overnight that the US believes Israel has enough troops just outside Rafah to launch a full ground operation soon.
Israeli troops operate in the Gaza Strip, in a handout photo published May 14, 2024. (Israel Defense Forces)
The report, citing two senior US administration officials, said the Biden administration is unsure if Israel has made the decision to move ahead with a full ground invasion of the city, following President Joe Biden’s warning last week that such a move would prompt the US to withhold some weapons shipments.
Israel has urged residents of some neighborhoods in the city, which the IDF has called the last major Hamas stronghold in Gaza, to evacuate over the past week. The United Nations’ agency for Palestinian refugees says that around 450,000 Palestinians have left Rafah since then, as the IDF has escalated its operations in the southernmost Gazan city.
Also Tuesday, the Israeli military responded to the death of a United Nations employee and the injury of another in southern Gaza’s Rafah the previous day, saying that the pair were hit in an active combat zone, but further details were under investigation.
In response to a query, the IDF said it received reports that two members of the UN Department of Safety and Security were hit while driving in the Rafah area. According to a UN spokesman, the pair were driving to the European Hospital in southern Gaza when one of the staffers was killed.
Photos published of the car on social media appeared to show it had been hit by bullets.
II: A UN car was targeted and a confirmed first international staff casualty in #Gaza after it was hit by #IDF #Israel fire in #Rafah. #Follow for more #news #Updates #IDF #Israel #Palestine #Hamas #Lebanon #Hezbollah #Yemen
·
182 Views
“An initial inquiry conducted indicates that the vehicle was hit in an area declared an active combat zone,” the military said, maintaining that it had “not been made aware of the route of the vehicle.”
“The incident is under review,” it said, without attributing responsibility for the strike.
The UN has not yet cast blame for the incident.
Monday’s incident marked the first time a UN international employee has been killed in the Gaza war, though a large number of local staff have died.
The army said Tuesday that more than 100 targets were struck by Israeli Air Force fighter jets, drones and helicopters across the Gaza Strip over the past day, as fighting continues in Rafah, Zeitoun and Jabaliya.
The IDF said troops killed several cells of gunmen in close-quarters combat in eastern Rafah, and located weapons.
File: Displaced Palestinians arrive in central Gaza after fleeing from the southern Gaza city of Rafah in Deir al Balah, Gaza Strip, on Thursday, May 9, 2024 (AP Photo/Abdel Kareem Hana, File)
The Jabaliya and Zeitoun operations in northern Gaza were launched in recent days after the army said it had identified Hamas forces regrouping in those areas.
In Jabaliya, the military said soldiers raided Hamas sites in the city in northern Gaza. Over the past day, troops killed dozens of gunmen in Jabaliya, according to the IDF.
More than 100 targets were struck by Israeli Air Force fighter jets, drones, and helicopters across the Gaza Strip over the past day, the military says, as fighting continues in Rafah, Zeitoun, and Jabaliya. The IDF says troops of the 401st Armored Brigade and Givati Infantry Brigade, under the 162nd Division, killed several cells of gunmen in close-quarters combat in eastern Rafah, as well as located weapons. In Jabaliya, the military says the 98th Division expanded its operations in the area, raiding Hamas sites in the city in northern Gaza. Over the past day, troops of the Paratroopers, 460th, and 7th brigades killed dozens of gunmen in Jabaliya, according to the IDF. Meanwhile, in Gaza City’s Zeitoun, troops operating under the 99th Division located tunnel shafts and destroyed several rocket launchers and a weapons depot. Several gunmen were also killed by the troops, the military says. Sites hit by the IAF included a command room in central Gaza where at least five operatives were gathered, booby-trapped buildings, and other infrastructure, along with gunmen near troops, the IDF adds.
0:17
·
13.8K Views
Meanwhile, in the Zeitoun neighborhood of Gaza City, troops located tunnel shafts and destroyed several rocket launchers and a weapons depot. Several gunmen were also killed by the troops, the military said.
Sites hit by the IAF included a command room in central Gaza where at least five operatives were gathered, booby-trapped buildings, and other infrastructure, along with gunmen near troops, the IDF added.
In the morning rocket sirens sounded in Ashkelon and other nearby areas as rockets were fired from Gaza at the southern Israeli city. There were no reports of damage.
The International Red Cross said Tuesday it was opening a field hospital in southern Gaza to try to meet what it described as “overwhelming” demand for health services in the city.
Some health clinics have suspended activities while patients and medics have fled from a major hospital as Israel has stepped up its operations.
The ICRC said that staff at the new facility will be able to treat around 200 people a day and can provide emergency surgical care and manage mass casualties as well as provide pediatric and other services.
Palestinians displaced by the Israeli air and ground offensive in the Gaza Strip walk along a beach of Mediterranean Sea at a makeshift tent camp in Deir al Balah, Monday, May 13, 2024 (AP Photo/Abdel Kareem Hana)
Tensions have risen between Israel and Egypt over the Rafah operation, and Cairo has indicated it will not bring aid into Gaza through the crossing — a key entry point for goods — so long as Israeli forces control it.
The Wall Street Journal reported that the Egyptian anger was partly a result of Cairo having previously received assurances from Israel that any operation along its border would not happen without warning and that civilians would have “weeks” to depart.
“None of these assurances materialized, with Israel giving us a very short notice about entering the crossing,” an unidentified Egyptian official told the Journal.
Amid fresh distrust between the sides, the report said, Cairo is considering downgrading — but not cutting — its diplomatic relations with Israel.
According to the report, officials say that pulling Egypt’s ambassador from Tel Aviv is a move being weighed.
“As we stand, there are no plans to suspend ties or throw away Camp David,” another Egyptian official told the newspaper, referring to the US-backed accords that led to the countries’ 1979 peace treaty. “But as long as Israeli forces remain at Rafah Crossing, Egypt will not send a single truck to Rafah.”
On Monday the military said that five Israeli soldiers and a Defense Ministry contractor had been seriously wounded in a series of incidents in the Strip in recent days.
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 amid acts of brutality and sexual assault.
The Hamas-run Gaza health ministry says the ensuing war has killed more than 35,000 people in the Strip, a toll that cannot be independently verified and does not differentiate between civilians and combatants. The UN says some 24,000 fatalities have been identified at hospitals at this time. The rest of the total figure is based on murkier Hamas “media reports.”
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 272 soldiers have been killed during the ground offensive against Hamas and in the course of operations along the Gaza border.
END
President Herzog to ‘Post’: Hamas started this war, we will never give up
Herzog joined The Jerusalem Post for this special interview to bring both levity and understanding to a holiday that, now most of all, is complicated and difficult to celebrate.
By TAMAR URIEL-BEERIMAY 14, 2024 13:23
At the center of the State of Israel, currently embroiled in conflict, there stands President Isaac Herzog, who has dedicated his life to his country.
While the weight of the Israel-Hamas war bears down heavily on the collective consciousness, Herzog has been fighting to keep the light in the country alive and strong, as well as echoing the importance of that ever-enduring flame on the international stage.
Walking through the halls of the President’s Residence, one might expect an atmosphere thick with tension and solemnity but rather, the energy of a limitless nation striving to continue its justified existence persists there – with politicians, advisers, security officials, and international delegations walking in and out regularly.
Herzog joined The Jerusalem Post for this special interview to bring both levity and understanding to a holiday that, now most of all, is complicated and difficult to celebrate.
What’s the best book you’ve read lately?
I am reading an excellent book by Jared Cohen titled Life After Power: Seven Presidents and Their Search for Purpose Beyond the White House. I am also reading the Hebrew translation of Austrian writer Stefan Zweig’s The World of Yesterday (“HaOlam Shel Etmol”) – a book that I feel has so much resonance today, perhaps more than ever.
END
ISRAEL/GAZA/RAFAH AFTERNOON
Israeli Tanks Plunge Deeper Into Rafah As 500,000 Palestinians Flee
TUESDAY, MAY 14, 2024 – 12:20 PM
Israeli tanks have been seen plunging deeper into the southern Gaza city of Rafah amid reports that some 500,000 people have fled amid the escalating ground offensive.
The Israel Defense Forces (IDF) have initially focused their operation on the eastern section of the city, having seized a key roadway that essentially cuts Rafah in half. “The tanks advanced this morning west of Salahuddin Road into the Brzail and Jneina neighborhoods. They are in the streets inside the built-up area and there are clashes,” one resident told Reuters via a messaging app. Regional media also reports that “Video on social media showed one tank on George Street in Al-Jneina neighborhood.”
The Guardian also writes Tuesday that “Officials estimate that as many as 500,000 people have fled Rafah since being told to evacuate by the Israel Defense Forces before their first attacks around and in the city a week ago.”
A Monday night CNN report indicated that the Biden administration believes that Israel has now amassed enough ground forces on the edge of Rafah to conduct a full-scale invasion of the city in the next days. However, the report says “senior US officials are currently unsure if it has made a final decision to carry out such a move in direct defiance of President Joe Biden, two senior administration officials told CNN.”
The White House criticism that not enough has been done to evacuate civilians to safety has persisted. “One of the officials also warned that Israel has not come anywhere close to making adequate preparations – including building infrastructure related to food, hygiene and shelter – ahead of potentially evacuating more than one million Gazans are who currently reside in Rafah,” the report continues.
National security adviser Jake Sullivan has clarified in a fresh statement that “The president was clear that he would not supply certain offensive weapons for such an operation were to occur.” He underscored in a Monday briefing, “It has not yet occurred.”
The words came after a dire prediction by Secretary of State Antony Blinken about the near-future fight if Israel goes ‘all in’ on Rafah. “Israel’s on the trajectory, potentially, to inherit an insurgency with many armed Hamas left, or, if it leaves, a vacuum filled by chaos, filled by anarchy and probably refilled by Hamas,” he said Sunday on NBC’s “Meet the Press.” Already the IDF has been forced to return to wage battle in some parts of northern Gaza after Hamas reappeared there, though these regions had already been pacified earlier in the conflict.
But on the whole the US now assesses Hamas capabilities have been “significantly degraded”. State Department spokesperson Matt Miller said days ago, “You have seen their ability to launch the kind of attacks that they did on October 7 significantly degraded, if not completely eliminated.”
“They couldn’t launch an attack of that scale today,” Miller claimed. “Their weapons production factories underground have been eliminated. Most of their battalion leadership in the north and in central Gaza has been eliminated. So Israel has achieved a great number of its military objectives.”
The US CENTCOM commander has been on the ground coordinating with IDF leadership, despite President Biden signaling to the public and angry progressives he’s getting tough on Israel…
This weekend, the Commander of
, General Michael “Erik” Kurilla, arrived in Israel as the official guest of the Chief of the General Staff, LTG Herzi Halevi. The commanders held an operational situational assessment and discussed operational developments including the strengthening of the coordination and cooperation between the militaries
·
215.1K Views
Meanwhile the IDF is still in control of Rafah crossing, and Middle East Eye has cited aid officials who’ve estimated that southern Gaza has less than a week’s worth of food left:
Displaced Palestinians in central and southern Gaza have less than a week’s worth of food left, after Israel seized the Rafah border crossing last week.
On 6 May, the Israeli military took “operational control” of the Palestinian side of the crossing between southern Gaza and Egypt, essentially cutting off aid into the coastal enclave.
Since then, just six trucks of food have entered Gaza through the Karem Abu Salem (Kerem Shalom) crossing with Israel, Juliette Touma, spokesperson for the United Nations’ Palestinian refugee agency (Unrwa), told Middle East Eye.
The “very minimum” number of trucks needed is 500 per day, carrying a “combination of fuel, aid supplies and commercial supplies”, Touma said. Within the same time frame, 157,000 litres of fuel has come into Gaza. Touma said that 300,000 litres was needed every day.
With so little coming in, food supplies are dwindling and prices soaring. As a “full-blown famine” devastates northern Gaza, sources in central and southern Gaza described a “miserable” situation that could turn into a “real crisis” in a matter of days.
Relentless IDF bombing of Gaza’s south has continued, also amid stepped up Hamas operations attacking IDF convoys and positions:
https://www.zerohedge.com/geopolitical/israeli-tanks-plunge-deeper-rafah-500000-palestinians-flee
One Palestinian journalist and eyewitness additionally described, “We could be seeing a new famine in the displacement areas. Displaced people are very worried about the lack of supplies. A major crisis, too, is related to the lack of water fit for drinking.”
And another eyewitness was cited as listing out that “A few vegetables, such as tomatoes, onions, cucumbers and garlic, and a few legumes, such as lentils, beans and fava beans are all that’s left.”
END
ISRAEL/HAMAS
SHAME ON THEM
IDF reveals Hamas terrorists use UN vehicles, UNRWA compound as cover in Rafah – watch
Several terrorists and gunfire can be seen near UN vehicles and in the area of UNRWA’s logistics warehouse compound in eastern Rafah, which is a central point for the distribution of UNRWA’s aid.
By JERUSALEM POST STAFFMAY 14, 2024 21:25Updated: MAY 14, 2024 21:37
_
The IDF revealed on Tuesday that during operational activity in eastern Rafah on Saturday, terrorists were identified in UNRWA’s central logistics compound alongside UN vehicles.
In the footage, several terrorists and gunfire can be seen near UN vehicles and in the area of UNRWA’s logistics warehouse compound in eastern Rafah, which is a central point for the distribution of aid on UNRWA’s behalf in the Gaza Strip.
Following the event, representatives of the Coordinator of Government Activities in the Territories (COGAT) conveyed the findings to senior officials in the international community and called on the UN to conduct an urgent investigation into the matter.
Hamas presence threatens civilian safety
In addition, COGAT representatives warned the UN against the presence of terrorists in the area and the seriousness of the danger their presence brings to the logistics center compound concerning the continued protection of the organization’s facilities.
The IDF promised at the end of the announcement that it would continue to act in accordance with international law to distribute aid to the residents of the Gaza Strip.
…
END
ISRAEL/USA
RUSSIA/UKRAINE/CHINA
HAL TURNER RADIO
FLASH ! ! ! U.S. PATRIOT Missile System, Captured in Ukraine by Russia — GIVEN to CHINA! ! !
HAL TURNER WORLD MAY 13, 2024 HITS: 12330
Russia has captured yet another US PATRIOT Missile system – intact – inside Ukraine. But since Russia has already captured enough to reverse engineer them and get all their secrets, Russia decided to
GIVE this one to . . . . CHINA.
NEXT ARTICLE: RUSSIA COMMENCES TACTICAL NUCLEAR WEAPONS EXERCISES
END
COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
The Tide Turns: Research On COVID Vaccine Harms, Once A Taboo Subject, Now Appearing In Some Medical Journals
TUESDAY, MAY 14, 2024 – 05:00 AM
Authored by Joe Wang via The Epoch Times (emphasis ours),
When COVID-19 took the world by storm in early 2020, I mostly relied on reading Nature Medicine, The Lancet, and a few other medical journals to learn the latest on this new disease.
In March 2020, I read an article published in Nature Medicine titled “The proximal origin of SARS-CoV-2” with great interest. Written by California-based Scripps Institute’s Kristian Andersen and four other well-known professors, it said SARS-CoV-2 binds to human cells much better than any computer programs predicted, and concluded that “SARS-CoV-2 is not the product of purposeful manipulation.”
Having been a scientist with the world’s largest vaccine company for more than 10 years, I took issue with this claim.
In a May 2022 commentary titled “Pandemic Lessons Learned: Scientific Debate Silenced, With Deadly Consequences” I wrote: “If SARS-CoV-2 infects people better than your computer predicts, then the only conclusion you can draw is that your computer sucks. How did these world-renowned scientists get the basic logic so wrong? And how did the prestigious publication Nature Medicine not catch that? Did anyone even read the paper before publishing it, not to mention peer review it?”
The Andersen article’s conclusion, as it turned out, was a complete flip-flop on Andersen’s Jan. 31, 2020, email to Dr. Anthony Fauci, then the director of the National Institute of Allergy and Infectious Diseases (NIAID), in which he wrote that “some of the features (potentially) look engineered,” referring to the coronavirus.
The Fauci emails were made public in June 2021 via Freedom of Information Act requests.
Nevertheless, the Nature Medicine paper became the authority on the origin of COVID. It essentially excluded the Chinese Communist Party (CCP) and Dr. Fauci from any responsibility for the emergence of the virus. Any attempts to investigate or explore other possibilities were labelled conspiracy theories.
Andersen, and the article itself, were the subject of a U.S. Congressional Hearing by the Select Subcommittee on the Coronavirus Pandemic in June 2023. The debate on how COVID originated is still ongoing today.
The Lancet and the Daszak Statement
Andersen and Nature Medicine weren’t the only ones trying to please the CCP and Fauci.
On Feb. 18, 2020, The Lancet, another top medical journal, published a political statement with no science in it. It was organized by Peter Daszak from EcoHealth Alliance, which was the middleman for channeling Fauci’s National Institutes of Health (NIH) funds to the Wuhan Institute of Virology, according to a U.S. Congress report released on May 1 of this year.
The Daszak et al. statement dismissed as a conspiracy theory any suggestion that COVID was not of natural origin.
“We stand together to strongly condemn conspiracy theories suggesting that COVID-19 does not have a natural origin,” they wrote. “Conspiracy theories do nothing but create fear, rumours, and prejudice that jeopardize our global collaboration in the fight against this virus.”
The Tune Is Set
The Daszak statement, along with the Andersen article, set the tune for the officially accepted narrative. The narrative then expanded from “a natural origin of the virus” to “a COVID vaccine will flatten the curve and save the world.” Scientists, doctors, and journal editors who dared to challenge the narrative were cancelled and/or labelled conspiracy theorists and anti-vaxxers.
It has been four years and six months since the world first encountered SARS-CoV-2. Despite the claims by famous scientists like Fauci and Andersen, and despite the countless efforts by top virologists and public health professionals, evidence that the virus originated naturally has not been found.
More and more people now believe that the virus was leaked or escaped from a laboratory at the Wuhan Institute of Virology, which has been doing gain-of-function research on coronaviruses, and published such research in Nature Medicine in 2015, with NIH funding acknowledged.
The lab origin is no longer a conspiracy theory. The U.S. Energy Department and the FBI both now believe that the virus was more likely leaked from a lab than having developed naturally.
Encouraging Developments
Since the pandemic, The Epoch Times and NTD have been publishing documentary films on COVID origin and vaccine injuries. The first such documentary, Joshua Philipp’s “Tracking Down the Origin of the Wuhan Coronavirus,” was viewed over 100 million times on different platforms combined. However, such reports are rarely seen in other legacy media.
It has also been a taboo subject for scientific research and publication, but that may be starting to change.
Recently, I wrote a commentary about a new paper by five Japanese scientists that was published on Cureus, a peer-reviewed medical journal owned by the Springer Nature Group, the same company that owns Nature and Nature Medicine.
The scientists analyzed data collected from the entire 123 million Japanese population and concluded that the majority of the 115,799 excess deaths in 2022 was not due to COVID infection but rather vaccination, in particular the third COVID shot.
I was pleasantly surprised that a once-taboo subject was now published in a peer-reviewed medical journal, especially a member journal of the Springer Nature Group.
In another positive development, this month the International Journal of Biological Macromolecules (IJBM) published a paper titled “Review: N1-methyl-pseudouridine: Friend or foe of cancer?” linking a key ingredient in the COVID-19 mRNA vaccine with cancer development.
IJBM is owned by the Dutch academic publishing company Elsevier, which also owns renowned publications like The Lancet, Cell, and ScienceDirect.
May the Force Be With the Editors-in-Chief
In the spring of 2022, when more scientists started to challenge the accepted narratives and seek the truth, I co-wrote the commentary “May the Force Be With Them: Scientists Fight Back.”
At that time, these brave scientists needed all the help they could get. For example, when a journal published a well-researched, well-written, and fact-based scientific paper on the safety concerns of the mRNA vaccines, the editor-in-chief of that journal was ousted.
The journal was Food and Chemical Toxicology, another Elsevier publication, and the editor-in-chief was Dr. José Luis Domingo.
Two years later, I’m optimistic that the IJBM editors-in-chief won’t face the same treatment as Dr. Domingo.
Why? I believe the tide has turned.
A recent New York Times article on COVID vaccine injuries is also an encouraging sign. It cites the Food and Drug Administration’s former acting commissioner Dr. Janet Woodcock as saying the injuries are “serious” and “life-changing,” and “should be taken seriously.”
“I’m disappointed in myself,” she added. “I did a lot of things I feel very good about, but this is one of the few things I feel I just didn’t bring it home.”
Among the reported injured is the editor-in-chief of the journal Vaccine, Dr. Gregory Poland. He has been suffering from tinnitus since his first shot. The Centers for Disease Control didn’t take his report on his personal experience seriously. He told the NY Times that he did not “get any sense of movement (from the CDC).”
“If they have done studies (on vaccine injury), those studies should be published,” Dr. Poland added.
The journal Vaccine is also an Elsevier publication, and as the editor-in-chief, Dr. Poland is well positioned to offer his encouragement on vaccine injury studies.
Yes, I believe the tide has turned.
However, as of today, the Daszak statement is still on The Lancet website and the Andersen paper is still on Nature Medicine.
I wonder when the Lancet and Nature Medicine will have the courage to retract them? And when will these two eminent journals start publishing research on COVID vaccine injuries?
References:
https://www.nature.com/articles/s41591-020-0820-9
https://www.theepochtimes.com/health/pandemic-lessons-learned-scientifi…
https://www.theepochtimes.com/epochtv/new-email-reveals-what-fauci-knew…
https://www.washingtonpost.com/politics/interactive/2021/tony-fauci-ema…
https://www.scripps.edu/news-and-events/press-room/2023/20230404-anders…
https://oversight.house.gov/release/wenstrup-to-hold-hearing-with-proxi…
https://www.thelancet.com/action/showPdf?pii=S0140-6736%2820%2930418-9
https://oversight.house.gov/wp-content/uploads/2024/04/2024.05.01-SSCP-…
https://www.theepochtimes.com/health/expert-on-aluminum-toxicity-forced…
https://www.theepochtimes.com/author/aaron-kheriaty
https://www.theepochtimes.com/health/editor-in-chief-of-renowned-scienc…
https://www.nature.com/articles/nm.3985
https://www.wsj.com/articles/covid-origin-china-lab-leak-807b7b0a
https://www.cnn.com/2023/02/28/politics/wray-fbi-covid-origins-lab-chin…
https://www.theepochtimes.com/epochtv?utm_source=epochtv
https://www.theepochtimes.com/epochtv/the-unseen-crisis-vaccine-stories…
https://www.theepochtimes.com/epochtv/documentary-tracking-down-the-ori…
https://www.theepochtimes.com/health/joe-wang-japans-excess-deaths-hit-…
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9012513/
Views expressed in this article are the opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.
END
MARK CRISPIN MILLER
END
DR PAUL ALEXANDER
LATEST EVOL NEWS:
| LATEST NEWS: |
NEWS ADDICT
| WEF Demands ‘Climate Lockdowns’ to Force ‘Net Zero’ AgendaThe World Economic Forum (WEF) has ordered governments around the world to begin locking up their citizens with “climate lockdowns” in order to force the public to comply with the globalist “Net Zero” agenda.READ THE FULL REPORTTrump Trial Judge Under Investigation For COLLUSIONJudge Arthur Engoron of New York is currently being investigated for allegedly collaborating with a lawyer on a case involving President Donald Trump. A real estate attorney from New York has stated that he worked together with Engoron on the Trump case. The New York State Commission on Judicial Conduct is looking into the allegations made by Attorney Adam Leitman …READ THE FULL REPORTThe Astrazeneca Vaccine Controversy Highlights Ongoing Neglect of Thalidomide LessonsThalidomide, a sedative developed in the 1950s, was found to cause severe birth defects in babies whose mothers had taken the drug. The tragedy led to the formation of regulatory agencies, such as the Medicines and Healthcare products Regulatory Agency (MHRA), which monitor the safety of drugs and approve them for use in the UK market. Prior to the establishment …READ THE FULL REPORTDonald Trump’s New Nickname for Alvin Bragg is One of His BestDonald Trump at his massive rally in Wildwood, New Jersey on Saturday night unveiled one of his best nicknames yet. This one is about crooked Manhattan D.A. Alvin Bragg. It is hilarious. “It’s no wonder Joe Biden and his thugs are so desperate to stop us,” Trump said. “They know that we are the only ones who can stop them. …READ THE FULL REPORTHillary Clinton Issues Desperate Plea for Political Prosecutors to Resolve Trump Trials Before November ElectionThe Democrats’ prospects of seeing President Donald Trump’s numerous show trials concluded before the November election are fading. As the presidential election approaches, Hillary Clinton has voiced alarm that Trump’s legal battles will not be resolved before the November election. Clinton expressed concern that the ongoing delays in Trump’s trials may prevent the Democrats from exploiting the lawsuits to impact the election. …READ THE FULL REPORT |
Dirty Judge Tied to Jeffrey Epstein Signed Off on DOJ Plot to Get Witness to ‘Flip’ on Trump Judge Bruce Reinhart, who infamously signed off the search warrant to raid Mar-a-Lago, is shown by a newly released affidavit to have authorized an egregious pressure campaign to get a witness in the classified documents case to “flip” on former President Donald Trump. READ THE FULL REPORT Manhattan DA Alvin Bragg Accused of ‘Misleading the Court’ in Trump ‘Hush Money’ Case Manhattan D.A. Alvin Bragg’s paralegal admitted in court on Friday that the office deleted some call records between witness Michael Cohen and Dylan Howard, the lawyer for adult film actress Stormy Daniels (aka Stephanie Clifford), raising questions of whether or not the prosecutors have misled the court. READ THE FULL REPORT Bill Maher Wrecks Bragg’s ‘Hush Money’ Case Against Trump with 2018 Clip of Stormy Daniels Leave it to Bill Maher to do the dirty work the mainstream media refuses to do. READ THE FULL REPORT MSNBC Panel Baffled by Poll Showing Biden Is Bigger ‘Threat to Democracy’ An MSNBC panel grew bewildered at a poll indicating independent voters find President Joe Biden to be a bigger threat to democracy than President Donald Trump. READ THE FULL REPORT Biden’s Biggest Donors Are FURIOUS At Joe President Joe Biden is said to be receiving criticism from certain influential backers regarding his choice to withhold assistance to Israel in the event of an invasion of Rafah, where approximately one million civilians have sought shelter. During an interview with CNN on Wednesday, the president firmly stated his stance on the Israel-Hamas conflict, asserting that aid to Rafah would … READ THE FULL REPORT |
| T |
LATEST REPORTS FOR NEWS JUNKIES
| Pfizer Earning Billions Treating Covid Vax-Induced Turbo CancersPfizer is boasting that the pharmaceutical giant is now raking in billions of dollars in profits from treating the turbo cancer epidemic that was triggered by the company’s Covid mRNA vaccines.READ THE FULL REPORTNorthern Lights Were Faked by HAARP Using ‘Artificial Airglows’Evidence has emerged to reveal that the recent sightings of the aurora borealis across the Northern Hemisphere were actually faked by the High-frequency Active Auroral Research Program (HAARP).READ THE FULL REPORTCNN Panics After Data Analyst Gives Devastating Biden NewsCNN’s senior data reporter, Harry Enten, expressed concern over President Donald Trump’s significant advantage in the sunbelt states, which poses a serious threat to President Joe Biden’s chances of reelection.READ THE FULL REPORTTop Biden Ally Caught Trying To REWRITE HistoryJen Psaki, the former White House press secretary, refuted claims that President Joe Biden checked his watch during a ceremony honoring soldiers who died in the 2021 Afghanistan withdrawal. According to an excerpt from her book “Say More,” Psaki clarified that Biden only glanced at his watch after the ceremony had ended, despite images and videos suggesting otherwise. This clarification …READ THE FULL REPORTMSNBC Guest Goes On Absolutely Unhinged Rant Against ConservativesOnce again, the cycle continues unabated, with ceaseless predictions of doomsday scenarios if individuals choose to support the Republican party. During a Monday segment of MSNBC’s “Morning Joe,” host Joe Scarborough claimed, “This year you’re not just voting for a Republican. It’s a vote for a candidate who doesn’t believe in the most basic principles of American democracy. Everybody knows …READ THE FULL REPORT |
| LATEST REPORTS FOR NEWS JUNKIES |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
I’ve Got A Bad Feeling About This
By Michael Every of Rabobank
Ideally, I would have written this on May 4th not 14th, but I am going to talk Star Wars.
I was a fan in 1977, kept the flame alive when only battered VHS cassettes of the original trilogy existed, and was delighted to get prequels. Until the opening crawl announced, “The taxation of trade routes to outlying star systems is in dispute.” I recall thinking, “This is my job – boring!” But the prequels were better than the sequels and all the TV shows I don’t watch. Indeed, the prequels’ clunky theme of democracy crumbling into autocracy, dispute over trade routes, then war, seems even more prescient than my 2016 ‘Thin Ice’ report, which underlined how the 21st century could echo the 20th, and our more detailed fragmented ‘World in 2030’ report in 2020.
In just the last week: the IMF warned the world risks splitting into walled-off FX/trade blocs; The Economist stated “The liberal international order is slowly coming apart,” with “a worrying number of triggers that could set off a descent into anarchy”; Germany flagged conscription for all 18-year olds and spending over 3% of GDP on defence; China introduced military training for all High School students; Biden raised tariffs on Chinese EVs to 102.5%, and Trump said he would make it 200%, with tariffs on used cooking oil likely next; Bloomberg warned “The US, China, Russia are in a spiral towards war”; the manager of the Hong Kong trade office in London was arrested for spying; and, as some underline Russia has shifted to a full war economy that incentivises the martial, my prediction that markets will serve national security going forwards came true in Putin firing his defence minister to appoint an economist to the role instead.
Moreover, former US Trade Representative and potential Trump Treasury Secretary Lighthizer (or Lightsabre, having been advised by the Obi-Wan Kenobi of Godley balance sheets, Michael Pettis) argued the US –and all countries save those with natural advantages– should, over time, run balanced trade where they export only in order to import rather than to accumulate trade surpluses. He believes, correctly, that comparative advantage is movable via industrial policy and FDI, which Ricardo assumed could never happen in his free trade theory.
Lighthizer/sabre says tariffs are not the best single way to achieve this; a weaker dollar to do so would require interfering with the Fed to slash rates, which he’s not enthusiastic about – though Trump may be; and the bluntest method –a certificate of export needed to purchase an import– is incompatible with a free economy; so that leaves capital controls and/or hefty taxation on capital inflows into US assets to prevent foreign parties parking dollars earned from trade there. Logically, if you remove the capital account inflow, the current account outflow (i.e., the trade deficit) also disappears.
Such an outcome is a proton torpedo down the global-trade-and-market Death Star’s exhaust shaft. If the US runs balanced trade, the flow of dollars to the offshore Eurodollar system grinds to a halt. Those tens of trillions of debts will need to be serviced with the 7-ish trillion of dollar FX reserves, or new *offshore* credit, or Fed swap-lines, granting it new Force powers. FX would swing wildly (as some already call dollar strength vs. EM “sinister”). Global supply chains would be up-ended from the Light to the Dark side. Current practices in financial markets would naturally blow up. And all of this is advocated by a former USTR –a role selling more free trade to the world until 2016– because it’s the only logical way for the US exit a global system that is weakening it in many fundamental regards, even if a few prosper mightily from it.
Padmé Amidala bewails in one of the Star Wars prequels, “So this is how liberty dies, with thunderous applause,” and there is a lot of that happening too. But so far neoliberal market liberty dies to thunderous snores. The vast majority working in markets are paying no attention to this global backdrop at all. Which brings me back to Star Wars again in a different sense.
There is an 18-year movie-time chronological gap between the last Star Wars prequel and the first Star Wars from 1977. In that short timeframe, everyone in the galaxy who’d witnessed Jedis running round performing miracles for much of their lives forgot what lightsabres and Jedi were. That much is clear from Han Solo’s dismissive comments about the Force to Luke Skywalker in Episode IV. I had always thought that was just bad scriptwriting.
However, perhaps everyone in Star Wars knew what a Jedi was, but didn’t want to lose their jobs: likewise, the systemic risks to markets in our global backdrop are not fit for polite conversation among central banks and their watchers. These aren’t the droids (or trades) you are looking for. Move along.
Or, maybe people forgot because nobody in Star Wars reads. People in the movies look at screens, but you never see a book except the Jedi Scrolls, of which even Yoda says, “page-turners, they are not.” The Star Wars universe is thus post-literate, which would explain why a population sending real-time holograms across the galaxy are unable to remember something important that happened very recently. Today, financial markets are also full of screens, but rarely books. They have all information possible, but nobody can remember classical economics, or what happened last month, let alone 18 years ago. Where was Fed Funds in 2006? What was happening in markets? What did the Republic look like? Were there disputes over the taxation of trade routes? Were Jedi strolling around? “Who knows? I’m buying all the things!”
Indeed, GameStop looks like it’s going to happen again, for those who can’t recall how it ended last time; “May the Market Forces be with you” – until you are manipulated by a hidden Sith somewhere. Moreover, the Aussie budget yesterday had much lower government inflation forecasts than the RBA’s Statement on Monetary Policy just before it – so, ‘rate cuts are coming!’ again. Of course, this political Jedi mind trick suggests we are about to get more subsidies for consumers to artificially depress some elements of CPI while actually juicing the economy: as always on fighting inflation, it is “Do, or do not. There is no try.”
To conclude, a long time ago on a trading floor far, far away I was asked for my simplest forecast for our future: I said in the best case, Star Trek –united mankind working together– and in the worst case, Star Wars. And here we are.
“I’ve got a bad feeling about this,” to put it mildly. So do the IMF, The Economist, some at Bloomberg, the German defence minister, and Xi Jinping.
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 TUESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0797 UP .0007
USA/ YEN 156.61 UP 0.365 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2588 DOWN .0006
USA/CAN DOLLAR: 1.3676 UP .0001 (CDN DOLLAR DOWN 1 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 2.25 PTS OR .07%
Hang Seng CLOSED DOWN 41.35 PTS OR 0.22%
AUSTRALIA CLOSED DOWN 0.30 %
// EUROPEAN BOURSE: ALL MIXED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MIXED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 41.35 OR 0.22%
/SHANGHAI CLOSED DOWN 2.25 PTS OR 0.07%
AUSTRALIA BOURSE CLOSED DOWN 0.30%
(Nikkei (Japan) CLOSED UP 176.60 PTS OR 0.46%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2345.30
silver:$28.37
USA dollar index early TUESDAY morning: 105.03 DOWN 11 BASIS POINTS FROM FRIDAY’s CLOSE.
TUESDAY MORNING NUMBERS ENDS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing TUESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.178% UP 3 in basis point(s) yield
JAPANESE BOND YIELD: +0.950% UP 0 AND 9/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.335 UP 4 in basis points yield
ITALIAN 10 YR BOND YIELD 3.893 UP 8 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.5475 UP 5 BASIS PTS1`
END
IMPORTANT CURRENCY CLOSES FOR TUESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0818 UP 0.0026 OR 26 basis points
USA/Japan: 156.46 UP 0.227 OR YEN IS DOWN 24 BASIS PTS
Great Britain/USA 4.220 UP 0 OR 0 BASIS POINTS //
Canadian dollar UP .0017 OR 17 BASIS pts to 1.3649
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2337 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2395)
TURKISH LIRA: 32.27 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.950…
Your closing 10 yr US bond yield DOWN 1 in basis points from MONDAY at 4.477% //trading well ABOVE the resistance level of 2.27-2.32%) very problematic
USA 30 yr bond yield 4.623 DOWN 0 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.838 DOWN 2 BASIS PTS.
GOLD AT 11;30 AM 2350.50
SILVER AT 11;30: 28.46
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: TUESDAY CLOSING TIME 12:00 PM//
London: CLOSED UP 13.14 PTS OR 0.16
German Dax : CLOSED DOWN 25.80 PTS OR 0.14%
Paris CAC CLOSED UP 14.94 PTS OR .25 %
Spain IBEX CLOSED UP 87.30 OR 0.78%
Italian MIB: CLOSED UP 335.51 PTS OR 4.11[‘ o PTS
WTI Oil price 78.92 12EST/
Brent Oil: 83.33 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 91.35 ROUBLE UP 0 AND 0/100
GERMAN 10 YR BOND YIELD; +2.5475 UP 3 BASIS PTS.
UK 10 YR YIELD: 4.2220 DOWN 0 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0821 UP 0.0029 OR 29 BASIS POINTS
British Pound: 1.2591 UP 0.0031 UP 31 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.1980 DOWN 1 BASIS PTS//
JAPAN 10 YR YIELD: .950%
USA dollar vs Japanese Yen: 156.44 UP 0.216/ YEN DOWN 22 BASIS PTS//
USA dollar vs Canadian dollar: 1.3644 DOWN 0018 //CDN dollar UP 18 BASIS PTS
West Texas intermediate oil: 78.04
Brent OIL: 82.77
USA 10 yr bond yield DOWN 3 BASIS pts to 4.433
USA 30 yr bond yield DOWN 3 BASIS PTS to 4.696%
USA 2 YR BOND: DOWN 3 PTS AT 4.823
USA dollar index: 104.85 DOWN 23 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32. 30 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 9120 UP 1 AND 3//100 roubles
GOLD 2,356..35 3:30 PM
SILVER: 28.59 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 126.60 PTS OR 0.32 %
NASDAQ UP 123.01 PTS OR 0.68 %
VOLATILITY INDEX: 13.39 DOWN .21PTS OR 1.69%
GLD: $218.09 UP 1.83 OR .85%
SLV/ $26.13 UP .33 OR 1.20%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Retail Wrecking Crew Hammers Hedgies Again; Stocks/Powell Shrug Off Stagflation Signals
TUESDAY, MAY 14, 2024 – 04:00 PM
Hot PPI initially spooked markets (yields and dollar up, stocks down) but that faded fast (on lower revisions) – but the stag-flation trend continues this week…
Source: Bloomberg
Powell did briefly spook stocks around 1030ET with the following comment:
“it’s a possibility – but I dont think it will be the case – that the next action we take will be a rate hike… most likely we will stay the course….”
Between that comment (basically jawboning away any rate hikes) and the CPI-related components within PPI actually looking positive (well actually not positive and thus implying CPI may come softer), we actually saw rate-cut expectations rise today. 2024 now pricing in almost two cuts and 2025 now pricing in just over three cuts…
Source: Bloomberg
Goldman’s John Flood noted that trading volumes finally tracking higher +31% vs the 20dma, with ETF’s capturing 25% of the overall tape.
Floor skews +106bps better to buy with HFs +100bps better to buy (squeezes in consumer discretionary + ETF buying driving this) while LOs -300bps better for sale (selling tech + industrials), but overall flows here feel muted.
Another big day for the ‘meme stocks’…
Source: Bloomberg
…with AMC and SunPower (among others) joining GameStop
Source: Bloomberg
All of which means that ‘indicative’ hedge funds were clubbed like a baby seal for the second straight day – down a stunning 15% at the lows of the day…
And that meant several crowded longs (ABDE, V, SHOP) were hit as the squeeze in shorts forced de-grossing overall…
Source: Bloomberg
Small Caps were the winners today (and Dow was the laggard) but all the majors ended higher on the day. The Nasdaq closed at a record high…
The basket of MAG7 stocks broke out to new record highs today…
Source: Bloomberg
Treasury yields kneejerked higher on the PPI print then swiftly reversed to all end lower on the day by 3-4bps…
Source: Bloomberg
The dollar drifted back to the week’s lows – after a brief spike higher on PPI…
Source: Bloomberg
The dollar’s loss was gold’s gain…
Source: Bloomberg
Bitcoin erased yesterday’s gains which erased Friday’s losses…
Source: Bloomberg
The roller-coaster in crude prices continues – today was back down again, with WTI finding support at $78…
Source: Bloomberg
Finally, spot the odd one out – Nasdaq at record highs while US macro data at its weakest in two years…
Source: Bloomberg
Financial Conditions are as easy as they’ve been in years…and Fed Funds are at 23 year highs…
Source: Bloomberg
…will you be the greater fool?
END
MORNING TRADING/
Watch Live: Will Fed Chair Powell Admit He Can Now See The ‘Flation’?
TUESDAY, MAY 14, 2024 – 09:55 AM
Squeezed in between today’s (hotter than expected) PPI and tomorrow’s CPI, Fed Chair Jay Powell will join The ECB’s Dutch Central Banker Klaus Knot at the annual general meeting of the Foreign Bankers’ Association.
After PPI – and a wave of higher prices across various indicators – will Powell admit that he can now see the ‘flation’?
…and if not, will he explain why he is so desperate to start cutting rates (before November?)…
Watch Powell speak live here (due to start at 10amET)… (FBA has blocked playback on all other sites except YouTube, so no embed: click on the image to link to the YouTube stream)…
AFTERNOON TRADING/
II USA DATA
INFLATION is coming back. PPI accelerating
zero hedge
US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts…
TUESDAY, MAY 14, 2024 – 08:43 AM
Ahead of tomorrow’s CPI, traders are eyeing this morning’s Producer Prices for any hints that the disinflation trend will return…or not.
The answer is “not!”
April Producer Prices rose 0.5% MoM (vs +0.3% exp), with March’s +0.2% MoM revised down to -0.1% MoM. The downward revision did not stop the YoY read rising to 2.2% (from +2.1% in March)…
Source: Bloomberg
This is the highest YoY read since April 2023 and is the fourth hotter than expected headline PPI print…
Source: Bloomberg
Producer Prices have been aggressively downwardly revised for 4 of the last 7 months…
Source: Bloomberg
Services costs soared, dominating April’s PPI gains with Energy the second most important factor. Food prices actually declined on a MoM basis.
Source: Bloomberg
On a YoY basis, headline PPI’s rise was dominated by Services (rising at their hottest since July 2023). For the first time since Feb 2023, none of the underlying factors were negative on a YoY basis…
Source: Bloomberg
After last month’s farcical ‘seasonally adjusted’ gasoline price, April saw the PPI Gasoline index rise (with actual prices at the pump) but still has a long way to go…
Source: Bloomberg
Core PPI was worse – rising 0.5% MoM (more than double the +0.2% MoM expected) – which pushed the Core PPI YoY up to +2.4%…
Source: Bloomberg
And finally US PPI Final Demand Less Foods Energy and Trade Services rose by 0.4% MoM and 3.1% YoY (the highest in 12 months).
Worse still the pipeline for primary PPI is not good as intermediate demand is starting to accelerate…
Source: Bloomberg
Here are Wall Street’s reactions to PPI:
Chris Larkin at E*Trade from Morgan Stanley:
Sticky inflation looked downright stuck this morning after a much hotter-than-expected inflation reading. But with last month’s numbers revised lower, this report may not have been as much of an upside shock as it first appeared to be.
Right or wrong, the CPI tends to have a bigger short-term impact on the markets, so the picture could look much different 24 hours from now. But if the CPI also comes in above expectations, the interest rate picture may be thrown into doubt.
Bespoke Investment Group:
The results of April’s PPI showed a hotter-than-expected m/m reading. That’s the bad news. On a y/y basis, though, the readings were much closer to expectations as March’s report was revised down to negative 0.1% on both a headline and core basis.”
Chris Zaccarelli at Independent Advisor Alliance:
This week is important for markets because they are worried about inflation and this morning’s producer price index hasn’t done anything to assuage those fears.
The most important data release is tomorrow’s CPI print because the Fed’s dual mandate is based on CPI and unemployment, with the former being what the Fed is solely focused on right now.
We believe that the stock market will move higher throughout the year on strong corporate profits and consumer spending, but volatility is likely to spike in the meantime, because the inflation data is going to keep the Fed on edge.
Quincy Krosby at LPL Financial:
Moreover, this report underscores Fed concerns that the path of disinflation has stalled, requiring a higher-for-longer policy stance to combat seemingly entrenched inflation.
An overriding question — and potential dilemma — hovering over markets is whether the broader economic landscape is softening at the same time inflation inches higher, making the Fed’s job increasingly difficult.
Bill Adams at Comerica Bank:
Between an upside surprise and downward revisions to prior data, the trend in total PPI was slightly higher than expected in April.
The PPI report suggests upside risk to the April CPI report, which will come out tomorrow.
At the margin the Fed will see the PPI report as another reason to slow-roll interest rate cuts.
Paul Ashworth at Capital Economics:
These days we mostly care about what the PPI means for the Fed’s preferred PCE deflator measure of core consumer price inflation.
In that respect, April’s news was mixed but, on balance, encouraging. The bad news is that PPI portfolio management prices increased by 3.9% m/m. But that was more than outweighed by the good news. We’ll know more after the release of April’s CPI tomorrow.
Scott Helfstein at Global X:
Inflation and the Fed are less important than growth, and companies have adjusted to the new reality of higher prices and continue to look for technology solutions to manage for profit.
The last mile on inflation was always going to be the hardest, but we should be comfortable with these numbers.
Over the past month, ‘higher prices’ have dominated ‘lower prices’ in recent survey data…
Higher producer prices:
- New York Empire manufacturing price paid advanced to 33.7 from 28.7.
- Philadelphia Fed manufacturing reported prices paid gained to 23.0 from 3.7 in March.
- Philadelphia Fed non-manufacturing prices paid rose to 31.0 from 26.6 in the prior month.
- Richmond Fed services prices paid rose to 6.11 from 5.43 in March.
- Kansas City Fed manufacturing prices paid advanced to 18 from 17.
- Kansas City Fed services input price growth continued to outpace selling prices.
- S&P Global manufacturing input cost inflation quickened to hint at sustained near-term upward pressure on selling prices.
- ISM Manufacturing prices paid gained to 60.9, the highest since June 2022, from 55.8 in March.
- ISM Services prices paid notched up to 59.2, the highest since January, from 53.4 in March.
Lower producer prices:
- New York Fed Services prices paid fell to 53.4 from 55.1 in March.
- Richmond Fed manufacturing growth rates of prices paid dipped to 2.79 from 3.22 in March
- Dallas Fed Manufacturing outlook reported prices paid for raw materials dropped to 11.2 from 21.1 in the prior month.
- Dallas service sector input prices index nudged down to 28.8 from 30.4 in the prior month.
- S&P Global Service saw input costs slowed from six-month highs in March.
Do you see the ‘flation’ now, Jay?
So, no, The Fed does not have inflation under control.
TUCKER CARLSON…
END
III USA ECONOMIC COMMENTARIES
SIGN OF THE TIMES
Red Lobster Abruptly Closes “Dozens” Of Locations, Loses Its Key Supplier And Begins Fire Selling Kitchen Equipment
TUESDAY, MAY 14, 2024 – 08:55 AM
Restaurant chain Red Lobster appears to be the latest beneficiary of “Bidenomics”, with reports surfacing this week that “dozens” of its locations across the country are unexpectedly closing down.
More than 80 locations in at least 27 states have now been listed as “temporarily closed” on the restaurant chain’s website, according to CBS affiliate WBNS.
The report said that workers at the locations were offered “no notice whatsoever” as to the closings. The Orlando-based seafood chain known for its endless shrimp deals has been struggling with significant internal and financial challenges, the report says.
Recently, the company faced rumors of bankruptcy as it sought a buyer to avoid filing for Chapter 11, with multiple media outlets reporting the potential filing last month.
It was reported that it might file for bankruptcy to restructure its debt and reduce its 650 US locations.
The chain underwent considerable leadership changes in 2021 and 2022, with new appointees in several top positions including CEO, chief marketing officer, chief financial officer, and chief information officer, all of whom departed within two years – usually not a sign things are moving in the right direction.
Last summer, the company reintroduced its endless shrimp menu deal, which resulted in an $11 million loss.
Even more devastating, CBS reports that Thai Union, Red Lobster’s top supplier, has severed ties with the chain.
A liquidation company has started an online auction for kitchen equipment and other contents from the closed Red Lobster locations, the report adds.
Amid these developments, the company has not publicly commented on the recent closures of several locations nor responded to inquiries about them.
end
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
KING REPORT
| The King Report May 14, 2024 Issue 7242 | Independent View of the News |
| BOJ Cuts Bond Buying in Regular Operation as Yen Stays Weak The Bank of Japan offered to purchase a smaller amount of government bonds in a regular operation on Monday than it did on April 24 as it seeks to reduce its presence in the country’s debt market… The central bank said it would buy ¥425 billion ($2.7 billion) of 5-to-10 year debt, compared with the ¥475.5 billion it bought in the operation last month… https://finance.yahoo.com/news/boj-trims-bond-buying-regular-012908217.html @economics: Fed… Vice Chair Philip Jefferson said communication from officials with diverging views can lead to confusion about the course of policy among the public (A Fed leftist tells hawks to STFU!) GameStop Shares Soar 53% (+135.97% at peak) for Biggest Gain since Mache 2021 – BBG 9:32 ET GameStop soars after flag bearer ‘Roaring Kitty’ resurfaces Shares of videogame retailer GameStop jumped 50% on Monday after “Roaring Kitty”, a former marketer at an insurance firm credited with sparking the 2021 meme stock rally, returned to X.com after a three-year hiatus from social media… https://www.reuters.com/technology/gamestop-jumps-after-roaring-kitty-returns-following-three-year-hiatus-2024-05-13/ @Convertbond: Jay Powell, you are being played again… Yes, Virginia, the US stock market is that stupid! But in all fairness to meme traders, what’s the difference between some big broker with a tepid record touting a stock or the Kitty? PS – Thank you, Jerome Powell, for unleashing this egregious moral hazard! Yo, Jerome, you still want to make the risible case that financial conditions are tight? NY Fed: Consumers Expect Higher Short-Term Inflation and Home Price Growth (3.3% from 3%) Median inflation expectations increased to 3.3% from 3.0% at the one-year horizon… Year-ahead commodity price expectations rose across the board in April, increasing by 0.3 percentage point for gas to 4.8%, 0.2 percent point for food to 5.3%, 0.6 percent point for the cost of medical care to 8.7%, 2.5 percentage points for the cost of college education to 9.0% and 0.4 percentage point for rent to 9.1%… https://www.newyorkfed.org/newsevents/news/research/2024/20240513 Cleveland Fed: CEO Inflation Expectations increased in 2024 Q2 9:50 ET CEOs and other top executives reported in April (2024:Q2) that they expect inflation as measured by the Consumer Price Index to be 3.8 percent over the next 12 months, up from 3.4 percent in January (2024:Q1)… https://www.clevelandfed.org/collections/press-releases/pr-20240513-cleveland-fed-survey Jerome, how can you and yours keep gaslighting about “inflation expectations remain well anchored?” Also Jerome, these days most everyone knows that CPI greatly understates inflation! @Convertbond: Just 9-Months Ago — Remember the inflation gaslighters, lecturing us on how rents were going to take CPI inflation down in Q1 / Q2 2024??? https://twitter.com/AyeshaTariq/status/1789905159214031021 @elerianm: From the @WSJ on US inflation. The challenge remains the decisive lowering of services and #housing inflation while maintaining well-behaved goods price behavior. The complication is that services inflation has traditionally been less sensitive to interest rate measures and, unusually this time around, housing inflation as well. https://twitter.com/elerianm/status/1789910266362175711 ESMs traded moderately lower in early Nikkei trading but plodded higher until an upward surge appeared at 23:15 ET. ESMs got into positive territory at the time and then traded sideways for 90 minutes. After the 2 ET Nikkei close, ESMs moseyed higher until 2:38 ET. After a 4-handle easing, ESMs hit bottom near 5 ET. Then, the craziness commenced; ESMs eventually hit a daily high of 5264.00 (+18.75) at 9:13 ET. Then, the Cleveland Fed CEO Inflation Survey appeared. ESMs commenced a decline, punctuated with two modest rallies and one moderate rally, that took ESMs to a daily low of 5233.25 at 13:08 ET. The NY Fed Consumer Inflation Expectations appeared near 11:00 ET. The usual suspects then bought aggressively for the afternoon rebound. ESMs hit a peak of 5247.50 at 15:18 ET and then rolled over and traded sideways into the close. @Stocktwits: Top Gainers: 1. AMC +84.53% 2. CCLD +84.13% 3. GME +72.39% 4. VFS +53.65% 5. NVAX +47.15% 6. ACIU +41.13% 7. TUP +38.37% 8. CHRO +34.97% 9. MGNX +33.23% 10. KOSS +33.22% Positive aspects of previous session Though stocks rallied early, there is nothing positive about some blocker driving stocks higher on nothing Bonds rallied modestly, were +8/32 at NYSE close Negative aspects of previous session Another instance of abject equity stupidity appeared Despite Powell’s incessant gaslightling, financial conditions are too loose and there is too much liquidity Ambiguous aspects of previous session Gold tumbled on the Cleveland and NY Feds’ inflation surveys – but will they impact the Fed? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5223.28 Previous session S&P 500 Index High/Low: 5237.26; 5211.16 UN revises Gaza death toll, almost 50% less women and children killed than previously reported President Biden echoed Hamas’ health ministry death toll data in his State of the Union speech https://www.foxnews.com/world/un-revises-gaza-death-toll-50-less-women-children-killed-previously-reported Red Lobster abruptly closes dozens of locations across US – The Red Lobster closures come as bankruptcy rumors circled the seafood restaurant chain in recent weeks. https://www.10tv.com/article/news/nation-world/red-lobster-closures-full-list-amid-bankruptcy-rumors/507-7ae7cc63-92c5-489d-9fac-5ea766ece4a3 Janet Yellen’s New Too-Big-To-Fail Firms – WSJ Treasury says non-bank mortgage servicers are systemically important. Biden Administration regulators on Friday teed up mortgage companies for designation as systemically important institutions like giant banks…. According to FSOC, non-banks originate two-thirds of mortgages and service 54% of balances, up from 39% and 4% respectively in 2008. After the financial panic, the report says “banks pulled back from mortgage origination and servicing in part due to heightened regulation and sensitivity to the cost and uncertainty associated with delinquent mortgages.”… https://www.wsj.com/articles/yellens-new-too-big-to-fail-firms-mortgage-housing-market-43c47f35 Today – US equity indices closed mixed on Monday, despite the meme stock stupidity and the penchant for stocks to rally on Monday. This implies that stocks are very tired and need to retrench. With the April CPI looming tomorrow, saner traders will try to be as flat as possible into the CPI release. @TradingThomas3: SPY 35.8M shares traded today, lowest non holiday trading day since November 11,2021. Unless volume increases significantly, stocks will stumble in coming sessions. NQMs are -2.00; ESMs are -17.50; USMs are -5/32; and Gold is -1.30 at 20:52 ET. The 20-year JGB hit 1.755%, the highest yield since 2013. Expected economic data: Apr PPI 0.3% m/m & 2.2% y/y, Core PPI 0.3% m/m & 2.3% y/y Fed Speakers: Gov. Cook 9:10 ET, Powell and ECB Gov. Knot at 10:00 ET in The Netherlands S&P Index 50-day MA: 5143; 100-day MA: 5015; 150-day MA: 4823; 200-day MA: 4723 DJIA 50-day MA: 38,756; 100-day MA: 38,444; 150-day MA: 37,193, 200-day MA: 36,524 (Green is positive slope; Red is negative slope) S&P 500 Index (5221.42) – 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 5117.89 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5204.90 triggers a sell signal Illegal migrants are being ‘encouraged’ to vote, top Republican warns after shocking documents reveals ‘training’ for noncitizens to cast ballots in Washington D.C. https://www.dailymail.co.uk/news/article-13413623/elections-illegal-migrants-washington-dc-chip-roy.html Actor @RealJamesWoods: The astonishing crowds supporting President Trump could never be matched by the current occupant in the Oval Office. Yet that fraud, Joseph Biden, is once again not bothering to campaign. He’s even promised to raise taxes on the middle class, without the slightest worry. Feeling confident behind the millions of illegals he’s imported, plus the proven grift of mail-in ballot harvesting, Joseph Biden knows this upcoming “election” is a slam dunk. He has even promised to import Palestinian “refugees,” if nothing more than just as a gleeful slap in the face to American citizens and our most trusted ally in the Middle East, Israel. His puppet masters will once again cheat, and lie, and engage in crooked lawfare without the slightest regard to the constitution, the laws of the land, or the will of the people. It worked in 2020, and they are going to keep on doing it. Until we don’t tolerate it any more. @JonathanTurley… Now, the mob has come for liberal professors and writers who remained silent for years as conservatives and others were targeted on campus. Suddenly, there is alarm from the Times editors, who blamed cancel culture for the recent demonstrations and disruptions on campus. The New York Times Denounces Cancel Culture . . . After Fueling Cancel Culture for Years Until good liberals were targeted on campus, cancel culture was treated as free speech. It did not matter that preventing others from speaking or being heard is the very antithesis of free speech… the New York Times published a column by an academic who had previously declared that there is nothing wrong with murdering conservatives and Republicans. Later, former editors came forward to denounce the cancel culture at the Times and the censorship of opposing views… At the same time, the Times has embraced “advocacy journalism.”… Now, however, liberal professors and writers are being targeted. After years of turning a blind eye to conservative and libertarian figures being purged from faculties or canceled in events, the Times is alarmed… What is most striking is how the editors chastise administrators for lacking the courage that they have not shown for years in standing up to their cultural warriors:… https://jonathanturley.org/2024/05/12/the-new-york-times-denounces-cancel-culture-after-fueling-cancel-culture-for-years/ Axios: Psaki’s new book falsely recounts Biden’s watch check in troop ceremony Former White House press secretary Jen Psaki claims in her new book that President Biden never looked at his watch during the ceremony for soldiers killed during the U.S. withdrawal from Afghanistan in 2021 — contradicting news photos and firsthand accounts of Gold Star families… Psaki’s book is the latest instance of current and former Biden administration officials downplaying or misrepresenting controversial episodes from the Afghanistan withdrawal ahead of the 2024 election. The Associated Press photographer on the tarmac snapped two photos of Biden looking at his watch twice and 10 minutes apart, as fact-checkers at USA Today and Snopes noted soon afterward… https://www.axios.com/2024/05/13/psaki-book-biden-watch-check-afghanistan Gold Star Families Blast Jen Psaki’s Lies: ‘Her Useless A** Wasn’t Even There’ https://townhall.com/tipsheet/matthew-foldi/2024/05/13/gold-star-families-blast-jen-psakis-lies-in-her-book-her-useless-a-wasnt-even-there-n2639005 Is the End Near? Victor Davis Hanson Ponders Threat of Annihilation I tried to look at a pattern—if there was a pattern. In all these cases, these societies did not realize they were in decline… I’ve counted about 16 statements in the press that Russian generals, Russian media, or Russian government officials have said if the war were to continue, they would use nuclear weapons. In the case of China, they have threatened to wipe out Taiwan and destroy the bastard idea of a Taiwanese civilization; they say it doesn’t exist. And they’ve threatened to nuke, as well, Japan if it aids Taiwan… I don’t think the average American understands that the Chinese are producing four ships per year to our one ship. Or that if you took any of our $15 billion carriers and you put them in the straits between Taiwan and China, they wouldn’t last more than an hour given the Chinese have developed missile batteries where they could launch 5,000 or 6,000 small missiles that would go about 6 inches above the water and hit the waterline at night. And you couldn’t stop that. They are building nuclear weapons at a phenomenal rate. They’re working on anti-missile defense. They’re back up to probably 250,000 students in the United States; if 1 percent are engaged in espionage—and the FBI says it’s more than that—you’ve got thousands of people who are appropriating technology. I don’t think anybody understands that it’s going to take us six years to replenish Javelin stocks and maybe we can’t. North Korea is producing more 155-mm shells than we are. At least they sent 2 million of them to the Russians… We’re 40,000 recruits short now in the military—never happened before… https://www.zerohedge.com/political/end-near-victor-davis-hanson-ponders-threat-annihilation?s=02 @VDHanson: Has America Finally Had It with Joe Biden? Joe Biden’s personal approval rating is at historic lows; almost all his policies do not poll fifty percent. He is behind Trump in almost all the swing states. And now he lies serially even to sympathetic interviewers. In short, finally Biden has been exposed for what he always was and represented. Senator and Vice President Joe Biden was always sort of a buffoon. He is by nature a grandstander who handsomely profited from his office while posing as good ole Joe from Scranton… He is a fabulist who believes that the more animated he misleads and slurs (“semi-fascists” “fat”, “lying dog-faced pony soldier”, “chumps”, “dregs of society”, etc), the more likely he is to get away with it. He is a confessed plagiarist… And he is a racist with a repertory of racial taunts and smears unrivaled among modern politicians… Biden has always put the agendas of his own and his family above the national interest… Any other major politician who habitually invaded the private space of women and preteens to blow on their hair, gobble their necks, squeeze and hug far too long, and be accused of sexual assault would have long since been cancelled by the left… at the heart of this Biden catastrophe is the Faustian bargain of 2020 when unelectable leftist candidates dropped out in unison to use a fumbling Biden as their more presentable veneer… his duties were ceremonial—as the hard-left channeled through him the most radical agenda in U.S. history, and found his debility and dementia advantageous—the country be damned… https://twitter.com/VDHanson/status/1790156802296090684 | |
GREG HUNTER
harveyorganblog.com 
