GOLD PRICE CLOSED UP $22.00 TO $2355
SILVER PRICE UP $1.64 TO $31.97
Gold ACCESS CLOSED $2359.75
Silver ACCESS CLOSED: $32.04
Bitcoin morning price:$68,501 DOWN 539 DOLLARS.
Bitcoin: afternoon price: $68,254 DOWN 788 dollars
Platinum price closing UP $30.45 TO $1061,40
Palladium price; UP $13.35 AT $982.65
END
SHANGHAI GOLD PREMIUM 21 DOLLARS/COMEX GOLD
SHANGHAI GOLD
I will now provide gold in Canadian dollars, British pounds and Euros
4: 15 PM ACCESS
*CANADIAN GOLD: $3219.78 UP 23.40 CDN dollars per oz( * NEW ALL TIME HIGH 3,305.30 CDN DOLLARS PER OZ//MAY 20 2024)
*BRITISH GOLD: 1848 UP 9.29 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2172.91 UP 21 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)
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END
EXCH: COMEX
JPMorgan stopped 0/0
FOR MAY2024
GOLD: NUMBER OF NOTICES FILED FOR MAY/2024. CONTRACT: 0 NOTICES FOR 0 OZ or 0.0000 TONNE
total notices so far: 2371 contracts for 237,100 Oz (7.374 tonnes)
FOR MAY:
SILVER NOTICES: 4 NOTICE(S) FILED FOR 20,000 OZ/
total number of notices filed so far this month : 6107 for 30.535 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $22.00
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :
BIG CHANGES IN GOLD INVENTORY AT THE GLD: A HUGE WITHDRAWAL OF 1.16 TONNES OF GOLD FROM THE GLD
/ /INVENTORY RESTS AT 832.21TONNES
INVENTORY RESTS AT 832.21 TONNES
SLV//
WITH NO SILVER AROUND AND SILVER UP $1.64 AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.832 MILLION OF SILVER OUT OF THE SLV
// INVENTORY LOWERS TO 418.481 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 418.481 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI SHOCKINGLY ROSE BY A HUMONGOUS SIZED 1544 CONTRACTS TO 186,276 AND CONTINUING ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR SMALL GAIN OF $0.10 IN SILVER PRICING AT THE COMEX ON FRIDAY. WE HAD ZERO LONG LIQUIDATION AT THE COMEX SESSION WITH AGAIN SHORT COVERING BY OUR SPECS DESPITE THE GAIN IN PRICE. WE HAD ANOTHER STRONG SIZED 518 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 OR RAID LIKE TODAY.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 518 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 TODAY;S RAID.
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.10) AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS AS WE DID HAVE A HUMONGOUS SIZED GAIN OF 1959 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE SMAL GAIN IN PRICE OF $0.10.
WE MUST HAVE HAD:
A STRONG SIZED 415 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 QUEUE JUMP OF 5,000 OZ
//NEW STANDING FOR SILVER//MAY IS THUS 30.685 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //STRONG SIZED EFP ISSUANCE/ VI) STRONG SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 518 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL -REMOVED AN ENORMOUS XXX 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 19 DAYS, total 23,571 contracts: OR 117.855 MILLION OZ (1240 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 115.780 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: 161.770 MILLION OZ (THIS MONTH WILL PROBABLY BE A WHOPPER OF ISSUANCE OF EFPS//3RDHIGHEST EVER RECORDED FOR A MONTH)
MAY: 117.855 MILLION OZ //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1544 CONTRACTS DESPITE OUR SMALL GAIN IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A STRONG EFP ISSUANCE CONTRACTS: 415 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 5,000 OZ QUEUE JUMP
//NEW TOTAL STANDING AT 30.685 MILLION OZ
WE HAVE A HUGE SIZED GAIN OF 1959 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE TINY GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 518 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND ZERO LIQUIDATION OF SHORTS.
THE NEW TAS ISSUANCE FRIDAY NIGHT (518) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 4 NOTICE(S) FILED TODAY FOR 20,000 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 7665 OI CONTRACTS TO 498,000 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: REMOVED XX CONTRACTS
WE HAD A STRONG SIZED DECREASE IN COMEX OI (7665 CONTRACTS) OCCURRED WITH OUR LOSS OF $2.25 IN PRICE/FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER, INITIATING THURSDAY’S RAID. WE ALSO HAD A RATHER LARGE INITIAL STANDING IN GOLD TONNAGE FOR MAY AT 4.684 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY;S 0 OZ QUEUE JUMP PLUS WE MUST ADD THAT DUBIOUS ISSUANCE OF 1084 OI EX FOR RISK CONTRACTS ISSUES ON LAST FRIDAY WHEREBY THE BUYER ASSUMES RISK OF 3.3716 TONNES OF GOLD//NEW STANDING INCREASES TO 8.5598 TONNES PLUS THE DUBIOUS 3.3716 ECH FOR RISK!
NEW STANDING 11.8961 TONNES// ALL OF THIS HAPPENED WITH OUR $2.25 LOSS IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A VERY FAIR SIZED LOSS OF 30111 OI CONTRACTS (9.365 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3011 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 498,000
IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3011 CONTRACTS WITH 7665 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 4654 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 33011 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 2052 CONTRACTS,,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4,654 CONTRACTS) ACCOMPANYING THE STRONG SIZED LOSS IN COMEX OI 7665/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 3011 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 4.684 TONNES FOLLOWED BY TODAY;S 0 OZ QUEUE JUMP PLUS 3.3716 TONNES EX FOR RISK//PRIOR
//NEW STANDING /MAY 11.8961 TONNES.
/ 3) CONSIDERABLE LIQUIDATION OF CONTRACTS MOSTLY DUE TO SPREADERS ALONG WITH SOME MINOR LONG SPECS BEING WIPED OUT WITH THE LOSS IN PRICE.
// 4) STRONG SIZED COMEX OPEN INTEREST LOSS 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///STRONG T.A.S. ISSUANCE: 2052 CONTRACTS//
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: 83,575 CONTRACTS OR 8,357,500 OZ OR 259.95 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 4398 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 19 TRADING DAY(S) IN TONNES 259,95 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 259.95 DIVIDED BY 3550 x 100% TONNES = 7.32% 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; 259.95 TONNES (WILL BE ANOTHER STRONG MONTH/MAYBE LARGER THAN LAST MONTH)// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.
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 HUGE SIZED 1544 CONTRACTS OI TO 186,276 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 415 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 415 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 415 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 1544 CONTRACTS AND ADD TO THE 415 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1959 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 7.975 MILLION OZ
OCCURRED DESPITE OUR SMALL $0,10 GAIN IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 14.49 PTS OR 0.46% //Hang Seng CLOSED DOWN 6.19 PTS OR 0.03%// Nikkei CLOSED DOWN 44.65 OR 0.11%//Australia’s all ordinaries CLOSED DOWN 0.46%///Chinese yuan (ONSHORE) closed DOWN TO 7,2453 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2629/ Oil UP TO 78.98 dollars per barrel for WTI and BRENT UP AT 83.20 /Stocks in Europe OPENED ALL MOSTLY RED
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
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A STRONG SIZED 7665 CONTRACTS TO 498,000 WITH OUR LOSS IN PRICE OF $2.25 WITH RESPECT TO FRIDAY TRADING. WE HAD A CONSIDERABLE T.A.S. LIQUIDATION FRIDAY AS WELL AS FEW LONGS BEING CLIPPED.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY.… THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 4,654 EFP CONTRACTS WERE ISSUED: : JUNE 4654 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE:4654 CONTRACTS.
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3011 CONTRACTS IN THAT 4654 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED LOSS OF 7665 COMEX CONTRACTS..AND THIS LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $2.25// FRIDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A STRONG SIZED 2092 CONTRACTS. MOST OF THE TRADING AND SUPPLY OF CONTRACTS 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. THE USE OF T.A.S. TODAY IS OF EXTREMELY IMPORTANCE TO OUR CROOKS IN YESTERDAY’S FALL IN PRICE
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: MAY (8.5398 TONNES+ 3.3716 EX FOR RISK/PRIOR) = 11.8961 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 8.5398 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.8961
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $2.25 //// AND WERE SUCCESSFUL IN KNOCKING A FEW SPECULATOR LONGS AS WE HAD A FAIR LOSS OF 3011 CONTRACTS ON FRIDAY WITH OUR TWO EXCHANGES WITH THE LOSS IN PRICE. THE T.A.S. ISSUED ON FRIDAY NIGHT WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.
WE HAVE LOST A TOTAL OI OF 9.365 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 STRONG QUEUE JUMP OF 37 CONTRACTS OR 3700 OZ ( .1150 TONNES) PLUS 3.3716 TONNES OF EX FOR RISK/PRIOR
NEW STANDING: 8.5598 TONNES PLUS 3.1716 TONNES EX FOR RISK/PRIOR = 11.8961
ALL OF THIS WAS ACCOMPLISHED WITH OUR HUGE LOSS IN PRICE TO THE TUNE OF $2.25
WE HAVE REMOVED 1042 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET LOSS ON THE TWO EXCHANGES 3011 CONTRACTS OR 301,100 (9.365 TONNES)
confirmed volume FRIDAY 235,251 contracts// fair
//speculators have left the gold arena
MAY 27 MAY GOLD
/ /// THE MAY 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | 51,505.902 oz brinks loomis . |
| Deposit to the Dealer Inventory in oz | 00 oz |
| Deposits to the Customer Inventory, in oz | 65,033.053 OZ BRINKS ASAHI DELAWARE 102 KILOBARS |
| No of oz served (contracts) today | 0 notice(s) 0 OZ nil TONNES |
| No of oz to be served (notices) | 381 contracts 38100 OZ 1.18507 TONNES |
| Total monthly oz gold served (contracts) so far this month | 2371 notices 237100 oz 7.374 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 3 customer deposit:
I) Brinks 64,302 oz
ii) ASAHI: 64,390..033 oz
iii) Delaware 578.713 oz
total deposit 65,033.053 oz
total customer withdrawals: 2
(1) out of Brinks: 48,,419.416 oz
ii) Out of Loomis: 3,086.496 oz
TOTAL WITHDRAWALS 51,505.902 0z
Adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR MAY
For the front month of MAY we have an oi of 381 contracts having LOST 4 contracts.
We had 4 contracts served on FRIDAY, so we gained 0 contracts or 0 oz (0.00 Tonnes).
JUNE DECREASED ITS OI BY 22,272 CONTRACTS DOWN TO 129,925 CONTRACTS.
JULY GAINED 214 CONTRACTS TO STAND AT 885
We had 0 contracts filed for today representing 0 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 0 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 (2371) x 100 oz ) to which we add the difference between the open interest for the front month of MAY ( 381 CONTRACTS) minus the number of notices served upon today (0 x 100 oz per contract( equals 275,200 OZ OR 8.559 TONNES. PLUS THE 3.3716 OF EX FOR RISK/PRIOR = 11.8961 TONNES
thus the INITIAL standings for gold for the MAY contract month: No of notices filed so far (2371x 100 oz + (381 OI for the front month} minus the number of notices served upon today (0) x 100 oz which equals 275,200 oz (8.559 TONNES) PLUS 3.3716 EX FOR RISK/PRIOR = 11.8961 TONNES.
TOTAL COMEX GOLD STANDING FOR MAY: 11.8961 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 OZ 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: 1,548,842.069 48.17 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,577,077.683 OZ
TOTAL REGISTERED GOLD 7,650,790.494 ( 237.97 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,926,287.193 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,101,984 oz (REG GOLD- PLEDGED GOLD)= 189.79 tonnes //dropping like a stone
END
SILVER/COMEX
MAY 27
INITIAL
//2024// THE MAY 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 533,124.03 oz cnt delaware loomis . |
| Deposits to the Dealer Inventory | nil OZ |
| Deposits to the Customer Inventory | 651,532.120 oz brinks |
| No of oz served today (contracts) | 4 CONTRACT(S) (20,000 OZ) |
| No of oz to be served (notices) | 30 contracts (0.15 million oz) |
| Total monthly oz silver served (contracts) | 6107 Contracts (30.535 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 1 deposits customer account:
i) int Brinks 651,532.120 oz
total customer deposit 651,532.120 oz
JPMorgan has a total silver weight: 128.997million oz/299/048 million or 43.14%
adjustment: 0
Comex withdrawals: 3
i) Out of CNT 15,001.100 oz
ii) Out of Brinks 2946,900 oz
iii) out of Loomis 100,462.090 oz
total withdrawal: 533,124.67 0z
TOTAL REGISTERED SILVER: 61.566MILLION OZ//.TOTAL REG + ELIGIBLE. 299/048 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR DECEMBER:
silver open interest data:
FRONT MONTH OF MAY/2024 OI: 34 CONTRACTS HAVING LOST 86 CONTRACT(S).
.
We had 87 notices served on THURSDAY so we GAINED 1 contract or 5,000 oz underwent a QUEUE JUMP AS THEY WERE SET TO TAKE DELIVERY ON THIS SIDE OF THE POND.
JUNE SAW A GAIN OF 727 CONTRACTS RISING TO 2447
JULY SAW A GAIN OF 656 CONTRACTS UP TO 147,339
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 4 for 20,000 oz
CONFIRMED volume; ON FRIDAY 61,050 good
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 6107 x 5,000 oz = 30.535 MILLION oz
to which we add the difference between the open interest for the front month of MAY ((34) and the number of notices served upon today 4x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the MAY/2024 contract month: 6107 notices served so far) x 5000 oz + OI for the front month of MAY (34)x number of notices served upon today minus (4x 5000 oz of silver standing for the may contract month equates to 30.685 MILLION OZ.
New total standing: 30.685 million oz.
There are 61.566 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.
Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon
END
GLD AND SLV INVENTORY LEVELS//
BOTH GLD AND SLV ARE MASSIVE FRAUDS!
MAY 27 WITH GOLD UP $22.00 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.15 TONNES OF GOLD FROM THE GLD// //NEW TOTAL TONIGHT 832.21 TONNES
MAY 24 WITH GOLD DOWN $2.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 5.18 TONNES OF GOLD FROM THE GLD// //NEW TOTAL TONIGHT 833.36 TONNES
MAY 23 WITH GOLD DOWN $53.00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 22 WITH GOLD DOWN $32.10 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 21 WITH GOLD DOWN $12,00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: //NEW TOTAL TONIGHT 838.54 TONNES
MAY 20 WITH GOLD UP $21.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 5.10 TONNES OF GOLD INTO THE GLD//NEW TOTAL 838.54 TONNES
MAY 17 WITH GOLD UP $31.70 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD//NEW TOTAL 833.36 TONNES
MAY 16 WITH GOLD DOWN $7.90 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1.43 TONNES OF GOLD INTO THE GLD//NEW TOTAL 833.36 TONNES
MAY 15 WITH GOLD UP $34.90 ON THE DAY; SMALL CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF .600 TONNES OF GOLD INTO THE GLD
///INVENTORY RISES TO 831.93 TONNES
MAY 14 WITH GOLD DOWN $17.10 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 .600 TONNES OF GOLD INTO THE GLD////INVENTORY RISES TO 831.93 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: 832.21 TONNES, TONIGHTS TOTAL
Now the SLV Inventory/( vehicle is a fraud as there is no physical metal behind them
MAY 27 WITH SILVER UP $1.64 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A HUGE WITHDRAWAL OF 2.832 MILLION OZ INTO THE SLV//INVENTORY INCREASES TO 421.313 MILLION OZ
MAY 24 WITH SILVER UP $0.10 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF .822 MILLION OZ INTO THE SLV//INVENTORY INCREASES TO 421.313 MILLION OZ
MAY 23 WITH SILVER DOWN $1.00 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A WITHDRAWAL OF 1.736 MILLION OZ FROM THE SLVINVENTORY INCREASES TO 420.491 MILLION OZ
MAY 22 WITH SILVER DOWN $0.66 TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV// INVENTORY INCREASES TO 422.227 MILLION OZ
MAY 21 WITH SILVER DOWN $0.41 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/A DEPOSIT OF 3.792 MILLION OZ FROM THE SLV// INVENTORY INCREASES TO 422.227 MILLION OZ
MAY 20 WITH SILVER UP $1.28 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 1.005 MILLION OZ FROM THE SLV// INVENTORY LOWERS TO 418.435 MILLION OZ
MAY 17 WITH SILVER UP $1.37 TODAY: SMALL CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 868,000 OZ FROM THE SLV// INVENTORY LOWERS TO 419.440 MILLION OZ
MAY 16 WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/ INVENTORY REMAINS AT 420.308 MILLION OZ
MAY 15 WITH SILVER UP 101 CENTS TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV;; A WITHDRAWAL OF 1.919 MILLION OZ FROM THE SLV
INVENTORY RESTS AT 420.308 MILLION OZ
MAY 14 WITH SILVER UP 25 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;;NVENTORY 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 418.481 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY
end
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS//GOLD AND SILVER COMMENTARY
Exceptionally Strong PBoC And Chinese Private Sector Buying Continues To Boost Gold Price
SATURDAY, MAY 25, 2024 – 03:10 PM
By Jan Nieuwenhuijs of Gainesville Coins
Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon. Most of the PBoC’s purchases are “unreported.” China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.
In my latest article on global gold flows from March 2024, “China Has Taken Over Gold Price Control from the West,” I showed that in 2022 China broke the peg between the US dollar gold price and “real yields.” Instead of being price sensitive China had become a driving force of the gold price. The data at my disposal ran until December 2023 which made me hesitant to conclude the sharp increase in the gold price since late February was also caused by the Chinese. However, as new data has been released, I can confidently say that China initiated the current bull market.
PBoC Gold Buying Increased by 38% in Q1
The media is aware that since 2022 central banks mostly buy gold covertly (often referred to as “unreported” purchases). By now it’s widely known that the World Gold Council (WGC) publishes a single statistic on aggregate central bank buying each quarter, which is markedly higher than what all monetary authorities combined report to have bought. Which central banks are causing the difference isn’t made clear though.
In February 2023 I broke the story on unreported buying being mostly acquisitions by the PBoC. Two people familiar with the matter shared with me the Chinese central bank is responsible for “the majority” of secretive additions by monetary authorities. Emerging markets such as Saudi Arabia take up the rest.
Based on field research, the WGC states central banks bought 290 tonnes of gold in the first quarter of 2024. Most of the difference—I use eighty percent—between the WGC’s estimate and total purchases as disclosed by the IMF is 162 tonnes. When we add what the PBoC has reported to have bought during this period, total purchases come in at 189 tonnes, 38% more than the previous quarter. Possibly, the PBoC had a stake in boosting the price since late February.
Taking into account unreported purchases, the Chinese central bank now holds gold reserves weighing 5,542 tonnes, according to my research (my methodology is explained here).
Exceptionally Strong Chinese Private Gold Demand in Q1
Chinese net gold imports by the private sector have been extremely strong. From January through March imports accounted for a mammoth 543 tonnes, up 74% from Q4 2023. This is definitely what pushed up the gold price. Import in April decreased somewhat to 125 tonnes.
India imported a healthy 95 tonnes in February, but less than 30 tonnes both in January and March. The Indians remain price sensitive and are not driving this rally.
Hong Kong saw notable net inflows in the past months, which mainly reflects strong demand in China in my view. Chinese housewives buy VAT free jewelry in Hong Kong and take it across the border to Shenzhen. In addition, bullion banks that export gold to China store gold in Hong Kong before re-exporting to the mainland.
In Q1 the UK and Switzerland both were net exporters, and Western ETF inventories declined. At the time of writing the West has not yet joined the bull market, which primarily has its roots in China.
Chinese Gold Demand Will Stay Powerful
Bloomberg recently reported that Beijing offloaded a record of $53 billion in US Treasuries and agency bonds combined in Q1, which illustrates the PBoC is selling dollars for gold. No wonder, as enthusiasm to seize Russia’s foreign exchange reserves—deposited at Belgium-based clearinghouse Euroclear—is rising among G-7 nations. In turn, Russia is freezing €700 million of assets from Western commercial banks such as UniCredit and Deutsche Bank, further strengthening gold’s global position as a safe haven. China’s foreign exchange reserves stand at $3.2 trillion so there is plenty of firepower left for gold.
Private gold demand in China is likely to uphold as well as the end of the property slump is not in sight. Home prices have declined in 30 out of the last 33 months. The State Council is floating a plan to buy unsold houses through local governments, but these are already drowning in debt. The Chinese public, which doesn’t have many investment options due to capital controls, will continue to invest in gold and support the price.
I’m expecting the West to join the bull market soon. ETF outflows appear to have stopped, and it would only be logical for Western investors to rotate into gold at some point because of high asset valuations and an overconfidence in credit instruments.
started.
END
3. CHRIS POWELL//GATA DISPATCHES
CHRIS POWELL…
Robert Lambourne: Interest cost of U.S. ‘special debt’ still falls as debt and rates rise
Submitted by admin on Mon, 2024-05-27 10:55 Section: Daily Dispatches
By Robert Lambourne
May 27, 2024
This note updates a report from March 17 concerning the gross interest cost reported in the last 12 monthly U.S. Treasury statements for the Federal government. That report is here:
https://www.gata.org/node/23080
This note highlights a strange pattern of interest payments reported on the so-called Special Debt, the portion of the U.S. federal government debt held by various government-sponsored trust funds. Surprisingly, despite rising interest rates and higher debt levels, the interest reported paid in the monthly treasury statements has fallen on this portion of the federal government debt since November 2022.
The table below has been compiled from the monthly Treasury statements. The latest statement for April 2024 can be found at the link below. The interest cost for the month is reported in this statement within the costs of the Treasury Department.
The table reports the rolling 12-month gross interest charge arising from the debt of the federal government in millions of dollars, beginning with the 12 months ended 30 September 2022 and finishing with the 12 months ended 30 April 2024. This 12-month interest charge is split into two parts.
The first column reports the interest payments arising on the so-called Special Debt, which is the debt held by the various trust funds sponsored by the federal government. This reported interest cost is based simply on interest payments made in the last 12 months. This debt totals about $7.1 trillion as at 30 April 2024.
The three largest federal-sponsored trust funds are Military Retirement, Federal Employees Retirement, and Federal Old Age and Survivors Insurance. These three largest trust funds hold $5.3 trillion of the $7.1 trillion of Special Debt issued as at 29 February 2024.
The second column is the debt held by the public, which effectively refers to all investors other than government-sponsored entities. This debt stands at about $27.5 trillion as at 30 April 2024. The interest cost reported on this debt is calculated on a full-accruals basis, which means that the interest payable is accounted for fully in any month regardless of when it is paid. The accruals basis is generally accepted as the proper way to record interest charges and it seems quite odd that the U.S. Treasury does not report this number for the interest on the Special Debt.
A quick review of the second column of figures highlights that the rolling 12-month interest charge on the debt held by the public is climbing relentlessly and has risen in the 12 months ended 30 April 2024 to $817.5 billion from $489.2 billion for the 12 months ended 30 September 2022.
The reasons for this increase are widely understood: the increase in the amounts borrowed together with higher interest rates on both the refinancing of maturing debt and the interest cost of new debt.
The pattern of the interest charge on the special debt is rather different. The peak 12-month rolling interest charge was $246.4 billion in the 12 months to 30 November 2022. The most recent 12-month charge of this portion of government debt is $226.0 billion to 30 April 2024. This is $20.4 billion below the peak.
This seems quite strange. The special debt has increased from $6.6 trillion as at 30 September 2022 to $7.1 trillion as at 30 April 2024. At first glance it seems entirely logical to expect this portion of federal government debt to be affected by rising interest rates in a way similar to the debt owed to the public.
Changes in the maturity profile of the Special Debt might be an explanation, with perhaps a lower mix of long-term debt in place now. Still, the decline in the reported interest charge seems odd.
A cynic would question whether an effort has been made to reduce the interest cost on this portion of federal government debt to avoid adverse comments on the trend of much higher total interest costs. As far as this writer is aware, no official explanation of this reduced interest cost of the Special Debt has been provided.
The interest charge reported on the debt held by the public has increased by more than 67% since the 12 months to 30 September 2022, and if this percentage is applied to the Special Debt rolling 12-month interest paid, it would be $381.4 billion in the 12 months ended 29 February 2024. This is purely for illustrative purposes, but this is around $155 billion higher than the cost reported and suggests that this reduced interest cost is significant.
Contradictory remarks have been made by various agencies concerning the nature of the Special Debt. For the purposes of this report it is assumed that it is still the intention of the U.S. government to recognize that the liabilities of the various trust funds holding parts of Special Debt as their major asset class are funded separately and their assets are separated for this purpose.
If this is the case, then it is correct to assume that the Special Debt is simply a debt of the federal government.
—–
U.S. federal government interest cost / Rolling 12 months
SPECIAL PUBLIC TOTAL
Sep-22 228363 489248 717611
Oct-22 243669 499577 743246
Nov-22 246415 515821 762236
Dec-22 242551 529188 771779
Jan-23 240399 540256 780655
Feb-23 234496 550347 784843
Mar-23 235245 574404 809649
Apr-23 233236 592390 825626
May-23 223238 599278 822516
Jun-23 225146 622012 847158
Jul-23 219141 632789 851930
Aug-23 206842 639092 845934
Sep-23 213137 666170 879307
Oct-23 221232 699427 923659
Nov-23 222490 723073 945563
Dec-23 220017 737295 957312
Jan-24 219120 756310 975430
Feb-24 225727 780300 1006027
Mar-24 220441 796662 1017103
Apr-24 226046 817468 1043514
—–
Appendix — Special Debt
Contradictory statements have been made by various official agencies about the nature of the Special Debt. The Congressional Budget Office has referred to it as an “accounting device,” which is consistent with claiming that the debt of the federal government is simply the debt held by the public, $27.4 trillion as at 29 February 2024.
If this position is correct, then beneficiaries of the military retirement and the federal government retirement funds do not have funded pensions and are reliant solely on future federal government revenue to pay for their pensions.
In a 2016 report on the federal old age and survivors insurance funds the Brookings Institution recommended that the assets of the funds be redistributed with 40% invested in equities. Hence by implication the Brookings Institution accepted that these funds existed and were not simply an accounting device.
This argument is beyond the scope of this note, but a cynic reviewing this might be tempted to claim that this ambiguity offers an opportunity for the authorities to engage in doublespeak.
Media reports on the debt of the federal government regularly refer simply to the debt held by the public and ignore the current $7.1 trillion of Special Debt. Yet certain federal government publications (such as the information on pensions for older military personnel) report that there is funding in place for the various federal government-sponsored trust funds. The implication of this is that the Special Debt is real.
It is notable that Luke Gromen, an influential commentator on the financial situation of the federal government, considers it useful to incorporate the Special Debt into his analyses of the sustainability or otherwise of the federal deficit.
—–
Robert Lambourne is a retired business executive in the United Kingdom who consults for GATA about the Bank for International Settlements and U.S. government debt.
END
Pam and Russ Martens: JPMorgan Securities is fined $100 million for spoofing and high-frequency-trading violations
Submitted by admin on Tue, 2024-05-28 11:23 Section: Daily Dispatches
By Pam and Russ Martens
Wall Street on Parade
Tuesday, May 28, 2024
How does a Wall Street trading firm gain competitive advantage to entice spoofers and high-frequency trading firms to use its trading platforms instead of those of its competitors?
How about having its trading compliance personnel wear a blindfold as billions of trades occur over the span of eight or nine years?
That is essentially what three of JPMorgan Chase’s federal regulators have suggested is behind the $448 million in fines they have leveled against three units of the largest bank in the United States.
When JPMorgan Chase filed its quarterly report with the Securities and Exchange Commission on May 1, it sheepishly admitted that the $348 million it had already paid out to two of its regulators for trading violations was not the end of this saga. It said that it “expects to enter into a resolution with a third U.S. regulator that will require the firm to, among other things, pay a civil penalty of $100 million. …”
Last Thursday, ahead of a long holiday weekend, that third regulator, the Commodity Futures Trading Commission, released its statement and imposed a fine of $200 million — which magically became $100 million by giving this five-count felon bank a $100 million credit for settling with the two other regulators. (If that makes zero sense to you, welcome to the Kafkaesque world of Wall Street and regulatory capture.) …
… For the remainder of the commentary:
* * *
4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS /LIVE FROM THE VAULT 174
Episode 174
Posted 24th May 2024
The Multipolar World Feat. Dr Stephen Leeb
The precious metals experts dive straight into an in-depth discussion on the world’s changing status quo, before exploring how China is driving gold prices as the world becomes increasingly multipolar renowned publisher of the ‘Intel for Investors’ newsletter, money manager and investment strategist for over forty years.
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT//COFFEE BEANS//
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
END
ASIA TRADING//MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 14.49 PTS OR 0.46% //Hang Seng CLOSED DOWN 6.19 PTS OR 0.03%// Nikkei CLOSED DOWN 44.65 OR 0.11%//Australia’s all ordinaries CLOSED DOWN 0.46%///Chinese yuan (ONSHORE) closed DOWN TO 7,2453 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2629/ Oil UP TO 78.98 dollars per barrel for WTI and BRENT UP AT 83.20 /Stocks in Europe OPENED ALL MOSTLY RED
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 MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.2454
OFFSHORE YUAN: DOWN TO 7.2629
SHANGHAI CLOSED DOWN 14.47 PTS OR 0.46 %
HANG SENG CLOSED DOWN 6.19 PTS OR 0.03%
2. Nikkei closed DOWN 44.65 PTS OR 0.11 %
3. Europe stocks SO FAR: ALL MOSTLY RED
USA dollar INDEX DOWN TO 104.31 EURO RISES TO 1.0885 UP 24 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1.04 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.84 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 DOWN TO +2.5540/Italian 10 Yr bond yield DOWN to 3.867 SPAIN 10 YR BOND YIELD DOWN TO 3.314%
3i Greek 10 year bond yield DOWN TO 3.564
3j Gold at $2348.45//Silver at: 31.65 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 9/ 100 roubles/dollar; ROUBLE AT 88.54
3m oil into the 78 dollar handle for WTI and 83 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 156.82/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.040% 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 0.9103 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9907 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.464 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.579 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.924 DOWN 3 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.19…
10 YR UK BOND YIELD: 4.263 UP 1 PTS
2a New York OPENING REPORT
2B EUROPE OPENING/TRADING
US equity futures in the green, USD softer & Crude bid amid heightened geopol tensions; Fed speak due – Newsquawk US Market Open
TUESDAY, MAY 28, 2024 – 05:55 AM
- European bourses are mixed continuing the price action seen in APAC; US equity futures are in the green
- Dollar is flat/softer, Kiwi the G10 outperformer after strong price action overnight and in continuation of the RBNZ last week
- USTs/Bunds are mixed and relatively contained, whilst Gilts outperform playing catch-up to Bund strength in the prior session
- Crude benefits from heightened geopol tensions, XAU dips and base metals are firmer across the board following the announcement of China’s USD 47.5bln chip fund
- Looking ahead, Canadian Producer Prices, Comments from ECB’s Knot, Centeno, Fed’s Kashkari, Cook & Daly, and Supply from the US
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)
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx 600 (U/C) are mixed and trade modestly on either side of the unchanged mark, continuing the tentative price action seen in APAC trade overnight.
- European sectors are mixed; Real Estate takes the top spot, benefitting from the relatively lower yield environment, whilst Travel & Leisure is weighed on by broader strength in crude prices.
- US Equity Futures (ES +0.3%, NQ +0.5%, RTY +0.5%) are indicative of a firmer open, after US markets were shut on Monday on account of Memorial Day. Apple (+1.6% pre-market) gains following reports that China iPhone shipments rose 52% in April.
- Click here for the sessions European pre-market equity newsflow and here for additional news.
- Click here for more details.
FX
- DXY is relatively flat/contained trade thus far with the index currently within a 104.41-56 band and as such is in close proximity to its 200 DMA at 104.37.
- Modest strength in the EUR which was relatively unreactive to upticks in German Wholesale Prices and to the the ECB SCE which saw the inflation view revised lower; EUR/USD trades within a 1.0855-79 range, and off best levels.
- GBP is flat vs the USD and modestly softer against the EUR. Cable sits in a 1.2764-83 parameter after briefly topping yesterday’s 1.2777 high.
- JPY is slightly softer vs the USD and losing against the EUR, AUD, and GBP despite the hotter-than-expected Japanese Services PPI overnight and the currency jawboning by Finance Minister Suzuki overnight. USD/JPY currently just shy of 157.00.
- Upward bias across antipodeans following the overnight rebound in commodities. The Kiwi narrowly outperforms in a continuation of last week’s hawkish hold by the RBNZ.
- PBoC set USD/CNY mid-point at 7.1101 vs exp. 7.2402 (prev. 7.1091).
- Click here for more details.
- Click here for Opex details.
FIXED INCOME
- USTs are modestly firmer but with action relatively sparse and overall rangebound into a particularly busy week highlighted by PCE on Friday; docket for today is sparse, but focus will be on US 2yr & 5yr supply. Currently trading within a tight 108-28+ to 108-22 range.
- Bunds are contained after lifting to a 130.52 peak on Monday, a high driven by remarks from ECB’s Lane who in a Dublin speech/FT interview outlined that the ECB is “barring major surprises” ready to begin easing. The ECB SCE saw saw lower inflation views at both the one- & three-year ahead timeframes, an update which was enough to lift Bunds to a 130.43 peak for today vs current 130.32.
- Gilts are outperforming as the UK catches up to Monday’s EGB move, with UK-specifics light except for reports via the FT which note that Sunak is to announce a GBP 2.4bln tax cut for pensioners, a development which seemingly hasn’t had any bearing on Gilts given opposition Labour is well ahead in the polls. Gilts are holding above 97.00, just off the 97.14 session high.
- Italy sells EUR 4.5bln vs exp. EUR 3.75-4.5bln 3.20% 2026 & 0.00% 2024 BTP Short Term and EUR 1.5bln vs exp. 1.0-1.5bln 0.10% 2033 I/L.
- Germany sells EUR 0.846bln vs exp. EUR 1bln 2.30% 2033 Green Bund and EUR 0.986bln vs exp. EUR 1bln 2.10% 2029 Green:
- Click here for more details.
COMMODITIES
- WTI and Brent are both holding on to the prior day’s gains but with a discrepancy in terms of intraday price changes amid the lack of WTI settlement yesterday as US markets were closed on account of Memorial Day. The complex was lifted amid heightened geopolitical escalations, following recent Israeli strikes on Rafah. Brent August in a USD 82.76-83.11/bbl intraday parameter.
- Precious metals are weaker across the board despite the softer Dollar, with no obvious reason for the weakness aside from the pullback in precious metals. XAU sits within a USD 2,340.79-2,356.44/oz parameter.
- Firmer across the board with base metals rebounding; desks are citing positive sentiment underpinned by the announcement of China’s USD 47.5bln chip fund.
- UBS expects OPEC+ to extend current production cuts for at least another three months; says oil remains a valid geopolitical hedge – sees Brent USD 87/bbl by year-end
- Click here for more details.
CRYPTO
- Bitcoin is softer and holds just above USD 68k after surging past USD 70k in the prior session; Ethereum fares better and is just shy of USD 3.9k.
NOTABLE DATA RECAP
- UK BRC Shop Price Index YY (May) 0.6% vs Exp. 1.0% (Prev. 0.8%)
- German Wholesale Price Index YY (Apr) -1.8% (Prev. -3.0%); Wholesale Price Index MM (Apr) 0.4% (Prev. 0.2%)
NOTABLE EUROPEAN HEADLINES
- ECB Consumer Expectations Survey (Apr): 12-month inflation 2.9% (prev. 3.0%); 3-year ahead 2.4% (prev. 2.5%); growth outlook less negative and labour market seen stable
- UK PM Sunak is to announce a GBP 2.4bln tax cut for pensioners in a bid to shore up the key Conservative ‘grey vote’ and stabilise the party’s chaotic start to the general election campaign, according to FT.
- Statistics Norway Oil Investment Survey: Total investments in oil and gas activity in 2025, including pipeline transportation, are estimated at NOK 216 billion, +5.2% than estimated in the previous quarter.
- UK Shadow Chancellor Reeves says Labour will not be matching the “Triple Lock Plus”
NOTABLE US HEADLINES
- China’s smartphone market saw a 2% growth in sales Q1. Sales of foldable phones +48% Y/Y. Huawei rose to the top spot for the first time in quarterly global shipments, surpassing Samsung, according to Counterpoint Research. China iPhone shipments jump 52% in April.
- UBS Global Research raises 2024 year-end S&P500 target to 5600 (prev. target 5400, current 5304)
GEOPOLITICS
MIDDLE EAST – EUROPEAN MORNING
- Israeli tanks have reached Rafah city centre, according to Reuters witnesses
- “Israeli media: Leaders of Israeli opposition parties will discuss tomorrow the formation of an alternative government and the ouster of Netanyahu”, according to Sky News Arabia.
- Ambrey says it is aware of incident 54NM southwest of Yemen’s Hodeidah, according to advisory.
MIDDLE EAST
- Israeli PM Netanyahu said something went tragically wrong regarding the Israeli air strike on Rafah and it will be investigated, while Israel’s government said initial reports are that Rafah civilians died from a fire that broke out after an Israeli strike on Hamas chiefs.
- Israeli PM Netanyahu reportedly intends to dissolve the War Council so that he does not have to include Ben-Gvir and Smotrich in it, according to the Israel Broadcasting Corporation.
- Israel is waiting to hear Hamas’s stance before deciding on re-joining hostage talks, according to Times of Israel.
- Palestinian media reported intensive Israeli shelling in the vicinity of the Emirati hospital west of Rafah in the southern Gaza Strip, according to Al Arabiya.
- Pro-Iranian militias in Iraq claimed responsibility for launching three drones at military targets in Eilat, while Israel said three drones launched from Iraq were intercepted.
- White House noted devastating images following the Israeli strike in Rafah on Sunday, while it is actively engaging the IDF and partners on the ground to assess what happened. Furthermore, the White House said Israel must take every precaution possible to protect civilians.
- French President Macron said he is outraged by the Israeli strikes that have killed many displaced persons in Rafah and called for these operations to stop.
- EU’s Borrell said he is horrified by news out of Rafah regarding Israeli airstrikes killing dozens of displaced persons including small children and condemned this in the strongest terms, while he called for attacks to stop immediately. EU Borrell also stated that he has the green light from EU ministers to reactivate the Rafah border mission.
- UN Secretary-General Guterres said they condemned Israel’s practices that led to the killing of dozens of innocent people seeking shelter from the conflict and called for the terror to stop, according to Reuters.
- An Egyptian soldier was killed in a clash with Israeli troops at a crossing on Monday, according to Bloomberg.
- Yemen’s Houthis said they launched attacks on three ships in the Indian Ocean and Red Sea, while Houthis also stated that they targeted two US destroyers in the Red Sea, according to Reuters.
- IAEA report stated that Director General Grossi deeply regrets that Iran has not reversed its decision to bar several experienced inspectors, while it noted that outstanding safeguard issues including uranium traces at undeclared sites remain unresolved. It also stated that according to the IAEA’s definition, Iran’s stock of uranium enriched up to 20% is theoretically enough to produce a nuclear bomb if enriched further, according to Reuters.
OTHER
- Ukrainian President Zelensky will visit Belgium on Tuesday to sign the latest in a string of security accords with Western allies, according to the Belgian PM’s office cited by Reuters.
- Ukrainian commander said French military instructors are to visit Ukrainian training centres, according to Reuters.
- Russia’s Foreign Ministry said Russia will respond to the restriction on Russian diplomats’ movement in Poland, according to TASS.
- China’s Foreign Ministry said US lawmakers paid a visit to Taiwan despite China’s strong opposition and it urged them to stop playing the Taiwan card and stop using excuses to interfere in China’s internal affairs, while it also lodged stern representations against the visit, according to Reuters.
- China and the US held talks on maritime issues and exchanged views on May 24th, while they will continue negotiations to avoid a misunderstanding and agreed to manage maritime risks, according to China’s Foreign Ministry. Furthermore, China and the US agreed to maintain dialogue and China urged the US to refrain from intervening in maritime disputes between China and its neighbours, while it added the US should refrain from ganging up to ‘use the sea to control China’ and should immediately stop supporting and condoning ‘Taiwan independence’ forces.
- China Maritime Safety Authority said China is to conduct military exercises in the Yellow Sea between May 28th and June 3rd and will conduct sea rocket launches in the Yellow Sea on May 28th-31st, according to Reuters.
- North Korea launched a rocket carrying a spy satellite which exploded in the first stage of the launch. South Korea and Japan condemned North Korea’s launch, while the US said North Korea’s launch is a brazen violation of UN Security Council resolutions and raises tensions. Furthermore, the launch was said to have involved technologies directly involved in North Korea’s ICBM program and the US is assessing the situation but noted that the launch did not pose an immediate threat, according to Reuters.
CENTRAL BANKS
- Fed’s Kashkari (non-voter) says inflation has moved sideways recently; need to wait and see and get more confidence on prices; should not rule anything out on policy path, via CNBC. Fed in good position because of strong labour market.No need to hurry to cut rates; the Fed could potentially even hike rates if inflation fails to come down further.
- Fed’s Bowman (voter) would have supported either waiting to slow QT pace or more tapered slowing in balance sheet run-off, according to Reuters. ‘In my view’ bank reserves are not yet near ‘ample’ levels given the still-sizable take-up of ON-RRP. Important to keep reducing balance sheet size to reach ample reserves as soon as possible and while the economy is strong. Important to communicate any change to the run-off rate does not reflect a change in the Fed’s monetary policy stance. ‘Strongly’ supports the principle of balance sheet holdings primarily being composed of Treasuries. A longer-run balance sheet ’tilted slightly’ toward shorter maturities would allow flexibility in approach. In future, when the Fed conducts QE to restore market functioning or financial stability it should communicate that purchases will be temporary and unwound when market conditions have normalised. FOMC would have benefited from an earlier decision to taper and end QE in 2021; and would have allowed earlier rate hikes.
- Fed’s Mester (voter) said would be preferable for FOMC statements to use more words to describe the current assessment of the economy and how that influences the outlook, as well as risks to that outlook, according to Reuters. Scenario analysis should also be incorporated as a standard part of Fed communications. Would like the Fed to publish an anonymised matrix of economic and policy projections so market participants can see the linkage between each participant’s outlook and their view of appropriate policy associated with that outlook. Expect the Fed will consider communications as part of its next monetary policy framework review.
- BoE Deputy Governor Broadbent rejected claims that the monetary policy committee acted too slowly and hit back at critics who have accused it of failing to control inflation, according to The Times.
- ECB’s Lane said keeping rates overly restrictive for too long could push inflation below target in the medium-term which would require corrective action that could even mean having to descend below neutral, while they think inflation over the coming months will bounce around at the current level and then will see another phase of disinflation bringing them back to the target later next year, according to Reuters. It was separately reported that ECB’s Lane said policymakers needed to keep rates in restrictive territory this year to ensure inflation kept easing, according to FT.
- ECB’s Rehn said inflation is converging to their 2% target in a sustained way and the time is thus ripe in June to ease the monetary policy stance and start cutting rates, while he added this assumes the disinflationary trend will continue and there will be no further setbacks in the geopolitical situation and energy prices.
- ECB’s Villeroy said they have significant room for rate cuts with the Deposit Facility rate at 4% and barring a surprise, a rate cut in June is a done deal, while Villeroy added that he doesn’t say they should commit already on July but they should keep their freedom on the timing and pace.
- ECB’s Schnabel said QE could have weakened the transmission of monetary policy during the recent tightening cycle, according to Reuters.
- RBNZ activated debt-to-income restrictions which will create limits on the amount of high-DTI lending banks can make and will include an allowance for banks to do 20% of their lending outside of our specified limits, while banks must comply with new restrictions from July 1st.
- BoJ Monetary Affairs Department Director-General Masaki said changes in wages in real terms will move to positive territory on a Y/Y basis and need to keep an eye on energy prices and forex moves, according to Reuters.
APAC TRADE
- APAC stocks were mixed with price action mostly rangebound in the absence of a lead from Wall St and as geopolitical uncertainty lingered following an Israeli strike on Rafah which killed dozens of Palestinians on Sunday.
- ASX 200 swung between gains and losses albeit in a thin range with sentiment not helped by soft retail sales.
- Nikkei 225 retreated after stalling beneath the 39,000 level as participants also digested the firm Services PPI data which accelerated by its fastest pace since 2015.
- Hang Seng and Shanghai Comp were somewhat varied as Hong Kong outperformed with Alibaba Health Information Technology front-running the gains post-earnings, while there was also notable strength in China’s major oil companies after the recent upside in underlying commodity prices. Conversely, the mainland lacks conviction with only brief support seen in property stocks following Shanghai’s latest measures to spur the flagging sector.
NOTABLE ASIA-PAC HEADLINES
- China’s Politburo said preventing and defusing financial risks is linked to national security and people’s property security, while it added China must act to prevent and defuse financial risks, as well as promote high-quality financial development Furthermore, it stated financial risks are a major hurdle that must be overcome, according to state media.
- Shanghai adjusted the minimum down payment ratio for first-home buyers to no less than 20% and for second-home buyers to no less than 30%, while it cut the lower limit for interest rates on first-home mortgages to LPR minus 45bps. Furthermore, Shanghai is to establish and improve the housing system, explore buying housing through state-owned platform companies and other entities, as well as optimise the supply of housing security.
- Japanese Finance Minister Suzuki said it is important for currencies to move in a stable manner reflecting fundamentals. Suzuki added that a weak yen boosts exporters’ profits but increases the burden for consumers, while he is concerned more about the negative impact of a weak yen and is closely watching FX moves.
- BoJ says its underlying inflation measure all fell below 2% in April.
- Chinese President Xi has urged promoting high-quality and sufficient employment, according to state media.
- China Politburo says China will promote the coordination and linkage of fiscal, monetary, investment, consumption, industrial, regional and other policies with employment policies, via state media.
DATA RECAP
Australian Retail Sales MM Final (Apr) 0.1% vs. Exp. 0.2% (Prev. -0.4%)
Japanese Services PPI YY (Apr) 2.8% vs Exp. 2.3% (Prev. 2.3%)
NORTH KOREA/SOUTH KOREA
END
2e) JAPAN
JAPAN
3 CHINA
CHINA
CHINA/USA
END
CHINA/
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
ECB
Traders Starting To Price Out ECB Rate Cuts… And Rightly So
TUESDAY, MAY 28, 2024 – 07:20 AM
Authored by Ven Ram, Bloomberg cross-asset strategist,
Market pricing on the European Central Bank’s rate trajectory for the year is now a lot more realistic, but still has room to mellow.
After factoring in as many as three reductions just days ago (and almost seven cuts at the start of the year), traders are now pricing in some two-and-fractional cuts, but that is still work in progress.
The ECB’s Chief Economist, Philip Lane, spoke in Dublin yesterday stating that the full impact of their unprecedented monetary-tightening campaign is yet to be felt.
“While the impact of the tightening cycle on economic activity might have reached its maximum level at the turn of this year, model-based analysis suggests that the bulk of the impact on inflation is comparatively backloaded, with substantial pass-through still expected to transpire in the period ahead,” Lane said.
The first expected reduction in June is nearly done – signed and sealed, but just waiting to be delivered.
The interesting question, though, is what happens beyond.
Will the governing council go at alternate meetings, delivering a cumulative 75 basis points of cuts for the year?
Most policymakers are unwilling to even comment on the subsequent path given uncertainty over wage growth and factors like the fighting in the Middle East.
“In deciding on the appropriate policy rate path, we will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction, and we are not pre-committing to a particular rate path,” Lane said.
Or will they opt for just one more beyond June – especially in the event that the Federal Reserve is constrained from easing?
Should the Fed find itself unable to loosen policy, it would be tall order to expect the ECB to reduce three times this year.
The markets are now veering around to that view, but there is still a bit of a ground to cover.
end
GERMANY
Conscription Is Coming Back To Europe
TUESDAY, MAY 28, 2024 – 03:30 AM
Authored by Dénes Albert via ReMix News,
While several countries are reintroducing compulsory military service, some EU politicians would welcome a uniform reintroduction across the EU.
Hungarian news portal Divány has rounded up the countries that have reintroduced conscription.
Professional armies are understaffed across the continent, as more and more European countries are recognizing. In recent weeks, not only EU leaders but also the leadership of the German Christian Democratic Party has brought up the idea of reintroducing compulsory military service.
At its party congress at the beginning of May, the CDU adopted a proposal that young people should be obliged to serve for a certain period either in the army or the social sector. Manfred Weber, leader of the European People’s Party, made a similar statement recently, saying he would extend conscription to the whole continent.
Germany abolished conscription in 2011, and this is what would be gradually rebuilt.
The former compulsory military service would be reintroduced as a year of community service, either in the Bundeswehr or a social institution. The initiative would also open up the possibility for women to enter the military. The German government would reintroduce conscription based on several scenarios, making it compulsory for all 18-year-olds.
The Swedish model is seen by many as an example, with all citizens in the Nordic country, both men and women, having to register and, at the same time, indicate their willingness to serve in the military. In Sweden, only a small proportion of those who are of age are actually conscripted into the army.
Germany is not the only country to revisit the idea of compulsory military service, with Denmark planning to introduce the recruitment of women in 2026.
Military service is compulsory in the following European countries: Cyprus, Greece, Austria, Lithuania, Latvia, Estonia, Finland, Sweden, Cyprus, Denmark and Sweden.
Latvia was the latest country to reintroduce the system, with all men aged between 18 and 27 having to re-enlist in 2023 for 11 months of compulsory service, just 16 years after its abolition, while military service is voluntary for women.
The Baltic State’s decision was influenced by the Russian-Ukrainian war.
Lithuania decided in 2015 to introduce compulsory military service, also in response to the geopolitical situation.
Finland has also just decided on compulsory military service, with periods of 165, 255, or 347 days.
From the age of 18, all men can be called up, and military service is compulsory until the age of 30, after which Finns are considered reservists. The Swedish example, already mentioned, is a curiosity in Europe, where women, in addition to men, can also enlist on the basis of their declaration.
In Greece, military service is compulsory between the ages of 19 and 45, usually for 9-12 months, the length depending on the type of force, and in Cyprus it is compulsory for those over 18. In Denmark, the military service is similar to the abolished Hungarian system, with 18-year-olds having to serve for 4-12 months, which can be replaced by community service.
Those who wish to continue their education after secondary school can postpone their compulsory military service until the age of 25.
In Austria, in a 2013 referendum, more than 59 percent of the population voted in favor of conscription, with all men having to serve for eight months, which can also be replaced by community service.
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FRANCE/UKRAINE RUSSIA
Ukraine Confirms France Will Send Military Trainers To Its Soil
BY TYLER DURDEN
TUESDAY, MAY 28, 2024 – 09:40 AM
Ukraine’s military says it is ‘welcoming’ French trainers in Ukraine, in new remarks which strongly suggest that for the first time France is deploying its troops to Ukraine soil. This marks the beginning of major ‘boots on the ground’ escalation in a formal, public capacity by a NATO state.
“Ukraine’s top commander said on Monday he had signed paperwork allowing French military instructors to visit Ukrainian training centers soon,” Reuters reported Monday, referencing head of the armed forces Col. Gen. Oleksandr Syrskyi.
“I am pleased to welcome France’s initiative to send instructors to Ukraine to train Ukrainian servicemen,” Syrskyi said following video link talks with French defense minister Sebastien Lecornu.
“I have already signed the documents that will enable the first French instructors to visit our training centers shortly and familiarize themselves with their infrastructure and personnel,” he followed with, strongly suggesting the plan is a done deal but may not have been initiated yet.
Syrskyi suggested that France’s commitment and being out front on the “ambitious project” to train Ukrainian forces inside the country would encourage other allies to join the initiative. This follows French President Emmanuel Macron raising the idea repeatedly over the last months of placing Western boots on the ground in Ukraine. He said nothing should be ruled out.
France’s Defence Ministry said told Reuters, “As already mentioned several times, training on Ukrainian soil is one of the projects discussed since the conference on support for Ukraine convened by the President of the Republic on February 26.” This is in reference to the date on which Macron first voiced support for such a plan before a Paris security conference involving defense representatives from around the world.
“Like all the projects discussed at that time, this track continues to be the subject of work with the Ukrainians, in particular to understand their exact needs,” the ministry added.
Macron has been in Berlin this week, which marks the first time a French president has traveled to Germany for talks with the country’s Chancellor since 2000.
A focal point of the talks with German Chancellor Olaf Scholz is said to be Ukraine, and seeking to convince Scholz to join France in a more muscular Ukraine policy. However, this has remained a point of division:
Officials from both sides stressed that while there are periodic tensions on specific issues, the fundamental basis of the relationship remains sound.
But Macron’s refusal to rule out sending troops to Ukraine sparked an unusually acidic response from Scholz that Germany had no such plans. Germany also does not share Macron’s enthusiasm for a European strategic autonomy less dependent on the United States.
President Putin and his top officials have meanwhile repeatedly warned that if the West sends its troops to Ukraine, this risks sparking nuclear war. Already the Kremlin has said it has targeted groups of French mercenaries in the Kharkiv area.
Masterful takedown by Dominique de Villepin, former French Prime Minister, of Macron’s utterly irresponsible rhetoric on sending NATO ground troops to Ukraine (Villepin himself calls it irresponsible). I translated it in full, because I think it’s so important people are aware of the extreme danger behind Macron’s (and some other NATO leaders) attempt to escalate the conflict: “For this debate [over sending ground troops] to have been useful, it would have first been necessary for us to be able to answer 5 questions. Five risks associated with this escalation, this step we would be taking if we were to send ground troops, send fighters. Five risks. The first is the expansion of the conflict. If we send ground troops, do we know if on the Russian side others will send, on the other side, ground troops? Will we face African fighters, will we face Asian fighters, will we face Middle Eastern fighters in this global south that also wants to take on the West? First risk. [Host comments: This does not seem to me a favored scenario…] If Westerners, Europeans, French send troops there, don’t you think that solidarity will also play on the Russian side? I think we still need to ask ourselves that question. In any case, our diplomacy has not done what it should have to isolate Russia. If Russia were isolated, we would know it… I think, by the way, that we are more isolated, unfortunately, than Russia. Second major question: new front. Risk of a new front. I warned, I was among the few voices to say ‘be careful, Ukraine is a dangerous situation but what happens if another front opens?’. The front in Gaza and the Middle East has opened. But there are other fronts that can open: in Korea, in Africa… And so, are we going to wage war like this on all 5 continents? This reality must be taken into account: the world is not limited to the drama and tragedy of Ukraine. It turns out that America is a global power and that we claim to be a global power too, so we are concerned by the major balances and the order of the world, and unfortunately our diplomacy does not sufficiently take into account these disorders which concern the Congolese, the Sudanese, etc. Third risk which is important: the terrorist risk. I am not thinking of terrorism that would come from our opponents in Ukraine, I am thinking of opportunistic terrorism. When there are situations of this type of disorder, terrorism strikes. And I remind you: we have planned here in France not a year of war, but a year of celebrations. In a few months, we will commemorate the 80th anniversary of the D-Day landings and delegations will come from all over the world. We are going to spend several months celebrating the Olympics. If we need to mobilize, let’s mobilize, but maybe it should have been done a bit more: I don’t see a war economy, the preparation of minds in terms of civil defense and hybrid warfare, I see nothing… You don’t just pull the idea of going to war in Ukraine out of a hat without having prepared a little… Fourth risk: we are on the eve of an American election that will determine the new world order. It’s a safe bet that we are heading for a new era of isolationism and protectionism like the world has never seen. We are seeing a split in this new world order between Trump and a China that has just celebrated the reunion of its parliament and is becoming more introverted, more focused on its security than ever. This is a general global context that must be taken into account. And then there’s one last element that may be one of the most important, which is the nuclear risk. I know the good experts, the great experts who speak on this subject and I respect them immensely. But sending ground troops, fighters, places us in a situation in terms of deterrence that we have never known. Forty years of Cold War: the forces of the Warsaw Pact and NATO forces never clashed. And it’s not by chance: it’s because of a reality that relates to the grammar of nuclear. The rule of deterrence is based on the principle of mutual assured destruction. That is, if one uses the bomb and the other responds, we’re all dead. […] I think the nuclear grammar means that today the risk of NATO ground troops in Ukraine presents a risk and that this risk, for responsible powers, is unacceptable. I travel enough around the world to have observed something for 15 years: the use of nuclear weapons is based on political cultures, societal cultures, and civilizations. The world is changing and what seemed unthinkable 10 or 15 years ago appears today differently: the rhetoric of the enemy, the hatred of the other, has developed to a point where we live in an international community that may want to settle scores with the other. […] Today, and I’m not just thinking of the Russians, let’s not forget nuclear proliferation with countries like Pakistan and many others that now have nuclear weapons. And it is in this that the principle of responsibility is essential, and there is a rule that must be drawn from all this: the logic of force, when not controlled, leads to an escalation that can be deadly. This is what makes the situation in Ukraine a real danger and it’s also what makes – because this principle of the logic of uncontrolled force I would gladly apply to the situation in Gaza – it’s what makes the Israeli policy applied today to Gaza a real danger. Because there is no control over the use of force. And when you look […] all fronts are linked, all crises are linked.”
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https://www.zerohedge.com/geopolitical/ukraine-confirms-france-will-send-military-trainers-its-soil
Starting in February Putin warned that the Western allies were “selecting targets for striking our territory” and “talking about the possibility of sending a NATO contingent to Ukraine.” With Kiev now openly welcoming French military trainers, this serious escalation is already in process.
5. RUSSIA AND MIDDLE EASTERN AFFAIRS.
ISRAEL/HAMAS//USA
Biden’s $320M Gaza Pier Has Detached & Drifted Onto Israeli Beach
SATURDAY, MAY 25, 2024 – 12:15 PM
A section of the $320 million floating pier built and erected off Gaza’s coast has broken off and floated onto an Israeli beach. The Saturday mishap is the latest setback for the US humanitarian aid project, after three US troops were reported injured aboard the pier two days prior, including one critically.
The Times of Isreal’s military correspondent Emanuel Fabian has reported that “An American vessel used to unload humanitarian aid from ships into the Gaza Strip via a floating pier disconnected from a small boat tugging it this morning due to stormy seas, leading it to get stuck on the coast of Ashdod, eyewitnesses say.”
The recovery operation has not gone well either, as “Another ship was then sent to try and extract the stuck vessel, but also got beached,” Fabian writes.
And yet a second US Army vessel also got stuck in shallow waters while trying to rescue the pier section. Overnight US ships had been moving two pieces of the floating pier to the Port of Ashdod in southern Israel when the now beached section detached and drifted away. American troops can be seen in footage standing helplessly on the beach.
An official US Central Command (CENTCOM) statement says the following:
This morning four U.S. Army vessels supporting the maritime humanitarian aid mission in Gaza were affected by heavy sea states. The vessels broke free from their moorings and two vessels are now anchored on the beach near the pier.
The third and fourth vessels are beached on the coast of Israel near Ashkelon. Efforts to recover the vessels are under way with assistance from the Israeli Navy.
The pier operation was already last week off to a rough start — and was paused for two days — after desperate Palestinians mobbed and ransacked the first trucks transporting aid unloaded from the pier before they could reach a distribution warehouse managed by the World Food Programme.
The pier has been center of controversy, given a number of land routes for aid into Gaza are possible, but have been blocked by Israel’s military.
Now, to mitigate that devastation amid reports of famine the US government has spent $320 million to build a pier to bypass its own beneficiary’s land-route blockade. But operating it has proven tricky especially due to inclement conditions in the eastern Mediterranean.
At best, the pier will only put a dent in the daunting humanitarian challenge. “I just want to be clear that this humanitarian maritime corridor alone is not enough to meet the staggering needs in Gaza, but it is an important addition,” said USAID Levant response management team director Daniel Dieckhaus. “It is meant to augment, not replace or substitute for land crossings into Gaza.”
Joe had a pier installed at Gaza $320 million of your dollars
https://www.zerohedge.com/geopolitical/bidens-320m-gaza-pier-has-detached-drifted-israeli-beach
At this point, with a section of the pier stuck on an Israel beach, and coming over two months after President Biden first unveiled the ambitious project, the whole initiative is becoming a bit of an embarrassment involving setback after setback.
Two US Navy ships ran aground on a beach in Ashdod. The tug boat was transporting the floating pier off of Gaza back to the port of Ashdod due to poor sea conditions when it got disconnected & beached here. LCM went in for rescue and also got beached
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ISRAEL /HAMAS//RAFAH
Gallant In Rafah Vows To Advance Deeper Despite World Court Demand For Ceasefire
BY TYLER DURDEN
SUNDAY, MAY 26, 2024 – 10:10 PM
Rockets sent from Gaza rained down on Tel Aviv for the first time in months on Sunday, with Israeli media saying they were launched all the way from Rafah.
It also came as Israeli Defense Minister Yoav Gallant visited IDF frontline positions on the outskirts of Rafah and vowed the military will forge ahead deeper into the southern city despite the Friday UN World Court order (ICJ) to implement an immediate ceasefire and to halt the Rafah offensive.
“Our goals in Gaza are emphasized here in Rafah: to destroy Hamas, return the hostages and maintain freedom of operation,” Gallant told the troops. “Regarding the hostage issue—we are making tremendous efforts and will continue to do so, via both physical activities and by reaching agreements.”
He then vowed to carry out Netanyahu’s order to not stop until Hamas is eradicated. “Remember, your job is to eliminate Hamas, to win this war. Our job is to take it [your achievement] and take it to the next level in Gaza and across the Middle East,” he said. “These issues are connected.”
The timing of the Hamas rocket attacks out of Tel Aviv are no doubt intent on sending a message of defiance. At least three rockets were intercepted but one home in a Tel Aviv suburb was damaged, and possibly more.
Times of Israel writes, “The Hamas terror group fired eight rockets at central Israel on Sunday afternoon, marking the most significant attack out of the Gaza Strip in some four months and underscoring some of the challenges remaining for the Israeli military as it seeks to oust the Palestinian group from its last major stronghold.”
This likely further confirms for Israeli leadership the need to take Rafah, despite international condemnation including from UN agencies.
Israel believes that not only have Hamas leaders found refuge in Rafah, but that it’s among the last locations where major rocket stockpiles exist, and there remains the possibility even of rocket manufacturing capabilities, but the IDF believes it has eradicated all the weapons-making factories at this point.
Heavy urban fighting has continued to be intense…
Watch a Mirkva tank being targeted with an “Al-Yassin 105” shell, and enemy concentrations being destroyed northeast of the city of Jabalia with mortar shells
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Later on Sunday one of Hamas armed wings, the Ezzedine al-Qassam Brigades, posted on Telegram it targeted Tel Aviv “with a large rocket barrage in response to the Zionist massacres against civilians.”
https://www.zerohedge.com/geopolitical/gallant-rafah-vows-advance-deeper-despite-world-court-demand-ceasefire
end
Global Outrage After Deadly Israeli Strike On Refugee Tent Camp In Rafah
MONDAY, MAY 27, 2024 – 01:00 PM
There have been widespread reports of a civilian massacre following a Sunday Israeli air strike on a camp for displaced Palestinians in the besieged southern city of Rafah, which the Gaza Health Ministry says killed 45 people, including women and children.
Israel says it is investigating the strike, amid widespread international condemnation and as horrific videos of the attack aftermath circulate widely, with Israel’s top military prosecutor calling the attack “very grave”.
Major-General Yifat Tomer Yerushalmi said in a briefing the Israeli army “regrets any harm to non-combatants during the war” and that “The details of the incident are still under an investigation, which we are committed to conducting to the fullest extent.”
The targeted area of the Tal al-Sultan neighborhood had been a recognized UN-run “safe zone” which lies about 2km to the northwest of the Rafah city center.
Incredibly graphic and disturbing social media videos show people burning in tents and rescuers carrying mangled and burned children’s bodies. According to an eyewitness description:
Mohammad al-Mughayyir, a senior official at the civil defense agency, told AFP that at least 40 Palestinians were killed and at least 65 wounded in the Israeli strikes.
“We saw charred bodies and dismembered limbs… We also saw cases of amputations, wounded children, women and the elderly,” Mughayyir said. Eyewitnesses told Reuters that tents were “melting” after the bombardment, burning people alive.
The Israeli strikes followed a rare Hamas rocket launch on Tel Aviv earlier the same day, which included at least eight projectiles, most of which were intercepted.
An international humanitarian organization, ActionAid, said it was “outraged and heartbroken” that the strike hit a tent area to a UNRWQ warehouses stocking “vital aid.”
“The images coming from our partners of burned bodies are a scar on the face of humanity and the global community, which so far has failed to protect the people of Gaza. One of our own ActionAid colleagues narrowly escaped this atrocity, having left the shelter just a day before the attack,” ActionAid said.
A Hamas statement called it a “massacre” and said the group also holds the United States responsible as it supplies Israel’s military with weaponry.
The Palestinian Authority’s (PA) Mahmoud Abbas charged Israel with deliberately targeting civilians. “The perpetration of this heinous massacre by the Israeli occupation forces is a challenge to all international legitimacy resolutions.” He alleged the IDF was “deliberately targeting” refugee tents.
The high casualty event has elicited statements of condemnation from leaders across the Middle East and Europe, as well as from some Democratic Congressional members in the US. This has included EU foreign policy chief Joseph Borrell who demanded that the ICJ call for immediate ceasefire must be adhered to.
German Foreign Minister Annalena Baerbock’s words were especially strong. “No Israeli hostage will be freed if more people now have to shelter in tents,” Baerbock said. “International humanitarian law applies for all, also for Israel’s conduct of the war,” she added.
Against this avalanche of criticism, also at a moment of investigations and legal actions by both the International Criminal Court (ICC) and UN’s International Court of Justice (ICJ) – both accusing the Israeli side of genocide – the Israel Defense Forces (IDF) have pushed back, saying Hamas militants were in the area that was hit Sunday.
“The strike was carried out against legitimate targets under international law, through the use of precise munitions and on the basis of precise intelligence that indicated Hamas’s use of the area,” the IDF said. “The IDF [Israeli army] is aware of reports indicating that, as a result of the strike and fire that was ignited, several civilians in the area were harmed. The incident is under review.”
END
EGYPT/ISRAEL
Israeli & Egyptian Troops Clash At Rafah Border, Leaving One Dead
BY TYLER DURDEN
MONDAY, MAY 27, 2024 – 10:20 PM
In a significant escalation, an Egyptian soldier has been shot dead at the Rafah border crossing after a rare exchange of gunfire erupted between the two sides.
Israel’s Channel 14 described that Egyptian security forces “fired on an Israeli truck at the Rafah crossing” and that immediately soldiers of the Israel Defense Forces (IDF) “responded to this with gunfire.”
Quickly after, officials on both sides of the border agreed to cease firing, and the incident is under investigation.
International reports including in Bloomberg and the BBC say that an Egyptian soldier at the border was left dead in the shootout. Israel media sources are calling it “a violation of the peace agreement with Egypt.”
The IDF subsequently confirmed: “There was a shooting incident on the Egyptian border; the [incident] is under investigation, [and] dialogue is taking place with the Egyptian side.”
Times of Israel has quoted the country’s Army Radio to describe current Israeli narrative of the incident:
The Ynet news site and Army Radio quoted unnamed Israeli military sources blaming Egypt for the deadly exchange of fire.
According to the reports, Egyptian forces opened fire first on Israeli troops at the Rafah Border Crossing, who responded with fire of their own.
The situation at the Rafah border crossing has been incredibly tense after Israel’s military took over operations of the Gaza side. Palestinian officials had previously operated the post, but earlier this month the IDF took it over as part of the ongoing Rafah offensive.
Tensions with Egypt are also at boiling point given the concern that hundreds of thousands of refugees displaced by Israel’s offensive could pour into the Sinai.
A US-backed peace treaty has guided Israel-Egypt relations since 1979…
https://x.com/Partisangirl/status/1795123468708585824
If Egypt want to start a war with Israel, Syria will come too. Like old times.
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Egypt’s economy has already long been under strain and Cairo says it can’t absorb mass numbers of displaced Palestinians. Large walled and enclosed ‘tent cities’ have been erected in the scenario where tens of thousands get across the border.
END
RUSSIA UKRAINE/
Ukraine Hits Base In Crimea With US Long-Range Missiles In Further Escalation
FRIDAY, MAY 24, 2024 – 11:20 PM
The Ukrainians aren’t waiting for ‘permission’ from the US despite the Biden administration’s official prohibition on using American-supplied weaponry to strike inside Russian territory. But perhaps Kiev’s argument is that Crimea is not ‘Russian territory’…
“Ukraine hit a Russian military complex in Crimea with U.S.-provided long-range missiles Thursday night, the latest in a mounting series of strikes aimed at slowing the Russian war machine,” The Wall Street Journal reports Friday.
The WSJ continues, “The missile strike hit a communications center of Russian air-defense forces in the city of Alushta, according to a Ukrainian defense official.” It added: “Crimean social-media channels reported several explosions in the coastal city, with one video showing a large blast, but the extent of the damage couldn’t immediately be established.”
Long-range ATACMS (or Army Tactical Missile System), were first transferred ‘secretly’ by Washington to Ukraine’s military earlier this year, and only disclosed publicly just weeks ago. In late April, National Security Advisor Jake Sullivan said a “significant number” of the ATACMS have been sent to Ukraine but did not specify how many. They can hit targets up to 190 miles away – and earlier in the war were withheld reportedly on White House concerns that they would be used to attack deep within Russian territory.
The UK and France have also of late provided longer-range systems, including cruise missiles that can be launched from aircraft. The WSJ underscores these new weapons “have significantly boosted the range, value and number of the deep-lying targets that Ukraine can attack.”
But the reality is that with each new attack on Russia, its forces appear to be hitting back harder with ‘punishing’ strikes on Kharkiv and as far south as the large port city of Odessa.
For example, Russia’s defense ministry is reporting its troops have achieved 49 combined strikes at “Ukrainian military sites, military-industrial facilities, arms, ammunition and fuel depots, army and mercenaries’ deployment areas” over the past week of fighting.
In the Kharkiv region, “The enemy’s losses over the week amounted to 1,840 personnel, six tanks, eight armored combat vehicles, 40 motor vehicles, four Grad and Vampire multiple rocket launchers and 37 field artillery guns,” the ministry said.
Thus Ukraine’s provocative attacks inside Russian territory aren’t having any actual impact on frontline fighting positions. Instead, the attacks are ultimately resulting in drawing NATO and Russia deeper into a more direct conflict.
Russian Foreign Minister Sergey Lavrov on Friday lodged a new complaint, saying West-supplied weapon are already being used against civilians inside Russia.
The below WSJ/ISW map demonstrates Ukraine forces’ significantly increasing missile range:
“American weapons are already being used against a wide variety of facilities outside the combat zone,” Lavrov stated. “We proceed from the fact that American and other Western weapons are hitting targets on Russian territory, primarily civilian infrastructure and residential neighborhoods.”
He bluntly concluded Western countries “are waging a war against Russia” despite all the officially stated positions which appear to dissuade Kiev from escalating with Western weapons. Lavrov said this is something that “that the Americans are trying to present to their public opinion or to NATO members.”
END
UKRAINE/RUSSIA SPAIN
Zelensky Signs $1BN Weapons Deal With Spain, Includes Patriot Missiles
TUESDAY, MAY 28, 2024 – 02:45 AM
Ukraine and Spain have inked a new military deal worth 1 billion euros ($1.08 billion), which will see the Spanish military transfer more military equipment to Kiev over the course of this year.
The commitment calls for greater supplies of modern military equipment which prioritizes “Ukraine’s key capacity needs” – especially safeguarding the country’s export routes.
El Pais newspaper listed that Spain has just pledged as part of the package a dozen U.S.-made Patriot anti-aircraft missiles and 19 second-hand German-made Leopard tanks.
Spain was among countries under pressure by EU leadership to essentially give up weapons it doesn’t need at this time for its own defenses, especially the Patriots.
However, the Patriot missiles are unlikely to include the full Patriot systems and batteries, according to El Pais, and thus this will be of limited advantage at a moment Kharkiv in the north, and Odessa in the south, are getting pummeled.
Spanish Prime Minister Pedro Sánchez said of the agreement with Ukraine, “It is more important than ever to redouble our support.” This comes after Zelensky and his top officials have complained that Western aid has been too slow to arrive.
This also comes the day after a deadly Russian strike on a market in Kharkiv city over the weekend, per the BBC:
At least 12 people have been killed and 43 others wounded after Russian forces hit a supermarket in the northern Ukrainian city of Kharkiv with two glide bombs, local officials say.
A large fire could be seen raging at the Epicentr K home improvement store on the northern outskirts of the city.
Ukrainian President Volodymyr Zelensky said over 200 people could have been inside the supermarket when it was attacked.
With each new strike, Zelensky’s lashing out at his Western backers grows louder…
Volodymyr Zelenskyy / Володимир Зеленський
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Russia has launched another brutal attack on our Kharkiv – on a construction hypermarket, on Saturday, right in the middle of the day. As of now, it is believed that more than 200 people were in the hypermarket. All the emergency services are already on the site and providing… Show more
“If Ukraine had sufficient air defense systems and modern combat aircraft, Russian strikes like this one would have been impossible,” Zelensky stated. “And that is why we appeal to all leaders, to all states: we need a significant enhancement of air defense and sufficient capabilities to destroy Russian terrorists.”
“This is a task that must be accomplished and can only be accomplished together with the world. Every day, we call on the world to provide us with air defense and to save our people,” Zelensky continued. And in a veiled attack which appears aimed at Washington, he concluded with: “Every unmade decision to support us results in the loss of our people.”
ROBERT H TO US
important
FRIDAY//USA RUSSIA/UKRAIINE
Washington attacks key element of Russia’s nuclear umbrella threatening entire global nuclear security architecture, by Mike Whitney – The Unz Review
This was the 1st strike. There was an attempt at another such facility 1,500 km inside of Russia that was unsuccessful.
At some point Russia will realize this escalation needs a firm response of consequence.
COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
IMPORTANT VIDEO FROM DR DAVID MARTIN….
Post from healthbot (@thehealthb0t)
A short video showing Dr David Martin making a presentation regarding patents of corona virus going back to 2002. Proof cvd was not naturally occurring, but manmade? Created with the intention of attacking humans? Makes you wonder if this was orchestrated?healthbot (@thehealthb0t) posted at 8:41 PM on Sat, May 25, 2024:
Covid-19 was the biggest scam in history
https://t.co/vI3Nla2LLS
(https://x.com/thehealthb0t/status/1794559495969919383?t=-Xhye4UhIaFNzQtYjNDa7Q&s=03)
WORLD EVENTS NOTEWORTHY
END
WORLD HEALTH ISSUES
Trust The “Science”…That Just Retracted 11,000 “Peer Reviewed” Papers
SUNDAY, MAY 26, 2024 – 11:20 PM
It’s yet another reminder of why blindly ‘trusting the science’ may not always be the best go-to move in the future.
217 year old Wiley science publisher has reportedly “peer reviewed” more than 11,000 papers that were determined to be fake without ever noticing. The papers were referred to as “naked gobbledygook sandwiches”, Australian blogger Jo Nova wrote on her blog last week.
“It’s not just a scam, it’s an industry,” she said. “Who knew, academic journals were a $30 billion dollar industry?”
According to Nova‘s post, professional cheating services are employing AI to craft seemingly “original” academic papers by shuffling around words. For instance, terms like “breast cancer” morphed into “bosom peril,” and a “naïve Bayes” classifier turns into “gullible Bayes.”
Similarly, in one paper, an ant colony was bizarrely rebranded as an “underground creepy crawly state.”
The misuse of terminology extends to machine learning, where a ‘random forest’ is whimsically translated to ‘irregular backwoods’ or ‘arbitrary timberland’.
Nova writes that shockingly, these papers undergo peer review without any rigorous human oversight, allowing egregious errors, like converting ‘local average energy’ to ‘territorial normal vitality’, to slip through.
The publisher Wiley has confessed that fraudulent activities have rendered 19 of its journals so compromised that they must be shuttered. In response, the industry is developing AI tools to detect these fakes, a necessary yet disheartening development. Nova writes:
The rot at Wiley started decades ago, but it got caught when it spent US $298 million on an Egyptian publishing house called Hindawi. We could say we hope no babies were hurt by fake papers but we know bad science already kills people. What we need are not “peer reviewed” papers but actual live face to face debate. Only when the best of both sides have to answer questions, with the data will we get real science:
In March, it revealed to the NYSE a $US9 million ($13.5 million) plunge in research revenue after being forced to “pause” the publication of so-called “special issue” journals by its Hindawi imprint, which it had acquired in 2021 for US$298 million ($450 million).
Its statement noted the Hindawi program, which comprised some 250 journals, had been “suspended temporarily due to the presence in certain special issues of compromised articles”.
Many of these suspect papers purported to be serious medical studies, including examinations of drug resistance in newborns with pneumonia and the value of MRI scans in the diagnosis of early liver disease. The journals involved included Disease Markers, BioMed Research International and Computational Intelligence and Neuroscience.
The problem is only becoming more urgent. The recent explosion of artificial intelligence raises the stakes even further. A researcher at University College London recently found more than 1 per cent of all scientific articles published last year, some 60,000 papers, were likely written by a computer.
In some sectors, it’s worse. Almost one out of every five computer science papers published in the past four years may not have been written by humans.
In Australia, ABC has reported on this issue, reflecting concerns over diminishing public trust in universities, which are increasingly seen as businesses rather than educational institutions. This perception is fueled by incidents where universities, driven by financial incentives, overlook academic fraud.
The core of the scientific community is corroded, exacerbated by entities like the ABC Science Unit, which rather than scrutinizing dubious research, often shields it.
This ongoing degradation calls for a shift from traditional peer review to rigorous live debates, ensuring accountability by having people argue their cases in real time.
In December 2023, Nature posted that more than 10,000 papers were retracted in 2023 — a new record.
You can read Nova’s full blog post here.
.
CRISPIN MILLER
DR PAUL ALEXANDER
Anti-mRNA Malone Bourla Bancel Weissman et al. vaccine European MEP’s husband Found Murdered in Car with Zip Tie Around His Neck; MEP Francesca Donato said he was MURDERED due to her stance against
the Malone Bourla Bancel Sahin, Kariko et al. Pfizer, Moderna, BioNTech mRNA technology vaccine & her stance AGAINST giving any money $ (European) to the cross-dressing penis piano player Volodymyr
| DR. PAUL ALEXANDERMAY 28 |
The Bronx New York: Trump spoke today May 23rd 2024 and reminded us that South America, Middle East, North Africa emptying jails, insane asylums etc. sending terrorists & on day one he will SEAL the
border & deport all illegals…he said this AGAIN and this is music to my ears, our ears, we MUST have this else USA is dead…thank you POTUS Trump for promising this…thank you!
| DR. PAUL ALEXANDERMAY 24 |
New poll showing Trump trailing Biden by 7 points in New York.
That is massive, incredible. Places Trump in striking distance with 5 months left, he can actually flip New York!!
Simple question Trump must ask at each campaign stop para “are you better off than 4 years ago”?
The Democrat party has always been anti-black!!!! Democrats have always used the blacks as pawns…FACELESS!!!
Bronx is just the beginning and Trump is throwing down, entering Biden and Obama house in the Bronx telling Biden INC. fuck off! Put this way, Biden is worse than Carter, if that is possible.
It has been 100 years since a US Republican candidate won the Bronx and by the looks at it today, Trump will win the Bronx come November 2020!
Young black men understand the fraud of what they are doing Trump in the NY courts and rallying with Trump. The minority vote is coming to Trump because of what is going on in the courts. They know that Trump puts America FIRST!!!
Now in the Bronx, Trump said if someone kills a police officer, once he is POTUS, they will receive the death penalty, he said this….thank you POTUS Trump!!!!!!!!!!!!
Americans are yearning change….Trump is it! New Yorkers want crime addressed, the porous border (illegal immigration) addressed, the economy addressed etc. Blacks want change, they want help! They want Trump! Bronx residents today wanted to see Trump. They showed today they are fed up with systemic racism, systemically excluded, robbed of the American dream and now robbed again due to the illegals? Enough is enough!
They want change and New York people want change and Trump has proven he can bring change! Blacks had the lowest unemployment in 2020…blacks had hope, choice, belief in tomorrow….under Trump…they were emerging again! Trump did more for blacks than Obama ever did! in 8 years, Trump did it in one!
New York blacks said in interviews today (Bronx) that Trump is the black-ist POTUS ever! And you AOC, stfu! You are an idiot, stop embarrassing yourself. You fool, even hispanics supporting Trump!
I think Obama and Biden have committed treason for what they have done by flooding the SU with jihadists, rapists, islamists, murderers etc. These fucking nations are emptying their jails, their insane asylums, sending us the most dangerous among them…Americans are fed up and angered that illegals can just come in, jump the line, and break laws, rape, murder etc. and go scotch free? Fucking over black Americans? Fucking over New York residents. Biden, how dare you and your democrats do this to black Americans? To hard working people?
Black Americans over the last 40 years wanted to BE Trump!!! “I want to grow up and be Trump!!!! They envied him and realize fully now Trump is the real deal. Blacks now think for themselves, independently.
Black Americans must leave the Democrat plantation for good. It is over! Leave now. For 70 years the left, democrats, congressional black caucus have pimped you, used you black man and woman, damaged you, trapped you in the slave plantations and built on the backs of The Great Society (Lyndon Johnson the racist democrat POTUS).
Obama and Biden have engaged in the most dangerous anti-American foreign policy. These people are mentally and spiritually deranged…dangerous to America…toxic policies of the Joe Biden INC. gang…people like AOC and SQUAD and Obama and Biden are the most dangerous to America.
And you Biden and Obama wanted the FBI to use deadly force against POTUS Trump, his son Baron, former FLOTUS Melania in that fake fraud raid to get the Crossfire Hurricane documents that show your crimes? You wanted to kill him? We will not forget, and that same private house raid of a former POTUS (ppsssttt, listen carefully Obama) and those deadly orders will be returned to you democrats in kind. It has to be, we must be fair. That you authorized the FBI to use deadly force on Trump? We will never forget.
Biden is senile, in steep mental decline, demented. Period. He is not in control, does not know where he is. Democrats cannot move him with 25th, no alternative and VP Kamla Giggles will wipe out the democrats electorally and Republicans, shame on you and I/we are disgusted, they want Biden there to run on his senility. Yet they do not care about America.
How do we make America safe? How? We are on verge of 4 wars all due to Biden and Obama and how do we stop this?
We need Trump. Period.
Trump will bring back the American dream. You know it.
Let us come together Monday to celebrate Memorial Day…to honor and mourn the U.S. military personnel who have died as they served the US military armed forces.
Boom!
MAGA! Let us pray for America, the greatest nation on this earth and last beacon of hope.
end
Trump withdrew from WHO (World Health Organization) in 2020 and I WAS THERE IN HIS ADMINISTRATION when he did it & Biden reversed this! Stand by, Trump will withdraw AGAIN & no treaty will affect USA,
Trump will codify it this time…withdrawal will be for good…I have been in discussions with the right people behind the scenes and again Trump will withdraw, its coming so calm down with TREATY
| DR. PAUL ALEXANDERMAY 26 |
SLAY NEWS
| The latest reports from Slay News |
| Miscarriages Surge in Vaxxed Women, ‘Millions’ of Babies LostLeading experts are warning that miscarriage rates have soared so dramatically in Covid mRNA-vaccinated women that “millions” of babies have now been lost who should have been born.READ MORE |
| California Legalizes ‘Human Composting’ to Fight ‘Climate Change’Democrat-controlled California has legalized the practice of composting human remains in order to “save the planet” from “climate change.”READ MORE |
| Boston Democrat Unloads in Wild Tirade at Council Meeting: ‘Dismantle the White Backdrop’A Democrat member of Boston’s city council has left her liberal colleagues raising the alarm over her anti-white threats, calls for a “revolution,” and aggressive, wild tirades.READ MORE |
| Democrat Attends NYC MAGA Rally, Flips on Biden, Declares Trump Will ‘Make America Great Again’A Democrat voter attended President Donald Trump’s New York City rally in the Bronx and declared that the 45th POTUS is going to “Make America Great Again.”READ MORE |
| DOJ Inspector General Accused of ‘Targeting Political Opponents’: ‘Deeply Infected with Partisan Actors’The Department of Justice’s (DOJ) Office of Inspector General (OIG) has come under fire over allegations of politically motivated attacks and deep partisan bias.READ MORE |
| Top RFK Jr Advisor Quits Campaign, Cites ‘Increasingly Hateful and Divisive Atmosphere’A top adviser to Robert F. Kennedy Jr. has issued a damning statement to announce she is leaving the independent presidential candidate’s campaign.READ MORE |
| Hunter Biden ‘Indisputably’ Lied Under Oath, House Investigators RevealInvestigators on the House Ways and Means Committee have uncovered evidence proving that Democrat President Joe Biden’s son Hunter has “indisputably” lied under oath on multiple occasions.READ MORE |
| Rick Scott Launches Bid to Replace Mitch McConnell as Senate GOP LeaderSen. Mitch McConnell (R-KY) announced back in February 2024 that he would not run for another term as the Republican’s Senate minority leader.READ MORE |
| NY Gov Kathy Hochul Smears Trump Supporters as ‘Clowns’Democrat Governor Kathy Hochul has appeared on national television and smeared supporters of President Donald Trump as “clowns.”READ MORE |
| Illinois Democrats Demand Term ‘Offender’ Changed to ‘Justice-Impacted Individual’Democrats in Illinois are pushing to change state law so convicted criminals can be referred to in terms that are less “offensive.”READ MORE |
| Most Americans Believe Biden’s Economy Is in Recession, Poll ShowsA new poll has revealed that the majority of Americans believe the economy under Democrat President Joe Biden is currently in a recession.READ MORE |
| Georgia Prosecutor Nathan Wade Issues Warning to Trump: ‘Day of Reckoning Is Coming’Disgraced Georgia prosecutor Nathan Wade has issued a warning to President Donald Trump that a “day of reckoning is coming.”READ MORE |
| MSNBC Accuses Republicans of ‘Buying Votes’ by Cutting Taxes, Improving EconomyMSNBC anchor Stephanie Ruhle has defended Democrat President Joe Biden for “buying votes” with his student debt-wiping agenda.READ MORE |
Top Attorney Testifies: Hospitals Were ‘Incentivized’ to ‘Murder Covid Patients’
Renowned American attorney Tom Renz has testified before the Ohio Senate with explosive allegations against the medical industry and federal government health officials.
READ MORE
Globalists Launch New Attack on Food Supply, Threaten to Destroy Farming Worldwide
Unelected bureaucratic globalists have launched a new attack in the escalating War on Food in a move that puts the global farming industry at risk of destruction.
READ MORE
Joe Rogan: Democrats Are ‘Lying to Everyone’ about Biden over Fears They’ll ‘Empower’ Trump
Podcaster Joe Rogan has asserted that Democrats are refusing to publicly criticize President Joe Biden over fears he will lose the election in November.
READ MORE
‘Fact Checkers’ Scrambling to Stop Photo of Obama with Sean ‘Diddy’ Combs from Circulating
The Democrats’ weaponized “fact checkers” are desperately attempting to “debunk” a photo of Barack Obama with disgraced rap mogul Sean “Diddy” Combs to stop it from spreading on social media.
READ MORE
Trump Says He’s ‘Excited’ about Rick Scott’s Bid to Lead Senate GOP
Senator Rick Scott (R-FL) has thrown his hat in the ring in the race to replace Sen. Mitch McConnell (R-KY) as America’s Senate GOP leader.
READ MORE
Supreme Court Rules against Racial Gerrymandering Claims in South Carolina
The United States Supreme Court has ruled 6-3 against the proposition that South Carolina’s congressional district map was racially biased.
READ MORE
Sean Kingston’s Florida Home Raided by SWAT Team, Rapper and His Mother Arrested
A SWAT team raided Sean Kingston’s rented Florida 14,000-square-foot mansion and arrested the rapper, according to reports.
READ MORE
Rand Paul: Fauci ‘Could Be Indicted’ for Destroying Records
Dr. Anthnoy Fauci may soon be indicted after new evidence emerged against the former top federal health official, Republican Sen. Rand Paul (R-KY) has revealed.
READ MORE
Biden Nominee Ordered Google to Hand over Emails of Journalist Who Obtained Ashley Biden’s Diary
Judge Sarah Netburn, who was nominated by Joe Biden to a lifetime judicial appointment, previously ordered Google to secretly hand over the private emails of a journalist who had obtained the diary of the Democrat president’s daughter Ashley.
READ MORE
CNN Reporter Stunned by Size of Trump’s Bronx Rally Crowd: ‘This Is One of the Bluest Counties in the Entire Country!’
A CNN reporter was left stunned after witnessing Thursday’s turnout for Trump’s New York City rally in the Bronx.
READ MORE
‘Super Size Me’ Star Morgan Spurlock Dead at 53
Morgan Spurlock, the star and director of the groundbreaking documentary “Super Size Me,” has died at just 53 years old.
READ MORE
EVOL NEWS
| LATEST NEWS: |
NEWS ADDICTS
| Doctor Killed by Turbo Brain Cancer after mRNA ShotsA marathon-running doctor died from turbo cancer shortly after receiving Covid mRNA shots.READ THE FULL REPORTJapan’s Top Oncologist Blows Whistle: Covid Shots Are ‘Pure Evil’Japan’s most senior oncologist has bucked the official narrative to go rogue and blow the whistle on the “pure evil” of cancer-causing Covid mRNA shots.READ THE FULL REPORTDemocrats Threaten to Boycott Netanyahu Address to Congress Even Though No Formal Invitation Has Been SentSome Democrat members of Congress are revealing they would boycott Israeli Prime Minister Benjamin Netanyahu’s upcoming address to a joint session of Congress amid the ongoing conflict between Israel and Hamas, even though no formal invitation has been sent yet.READ THE FULL REPORTJUST IN: U.S. Senate Once Again Blocks Border Bill With GOP OppositionOn May 23, the U.S. Senate once again rejected a proposed border bill, underscoring its significance as a top concern among voters leading up to the 2024 election.READ THE FULL REPORTEx-Special Prosecutor Nathan Wade Spotted at District Attorney Fani Willis’ EventNathan Wade, the ex-special prosecutor, made an appearance at a post-primary election gathering for his former lover, Fani Willis, the Fulton County District Attorney, on Tuesday.READ THE FULL REPORT |
Fully-Vaxxed ‘Super Size Me’ Star Dies of Turbo Cancer at 53
Documentary filmmaker Morgan Spurlock has tragically died at 53 after a short battle with turbo cancer.
READ THE FULL REPORT
Harvard Student Rioters Get The BAD News…
The Harvard Corporation, the long-standing institution that holds the highest authority at Harvard University, has overturned a faculty vote and upheld the decision made by the Administrative Board to bar 13 “encampment” activists from graduating.
READ THE FULL REPORT
Trump Drops BIG Hint About His Running Mate
Donald Trump, the presumptive 2024 Republican presidential nominee, subtly suggested to a local reporter in New York on Thursday about his potential running mate.
READ THE FULL REPORT
ALERT: Biden’s New Plan to IGNITE WWIII before Election
The Biden administration is currently considering the adoption of a proposal supported by Speaker Mike Johnson (R-LA) that would enable Ukraine to use weapons provided by the United States to target Russia.
READ THE FULL REPORT
Top Democrat Caught BRAGGING about Sneaking Marxism Into Bill
Texas Representative Jasmine Crockett proudly announced that she successfully secured funding for Marxist “diversity, equity, and inclusion” initiatives in an aviation bill aimed at recruiting more minority pilots.
READ THE FULL REPORT
| LATEST REPORTS FOR NEWS JUNKIESGovernment Stockpiling Vaccines ahead of Pre-Election PandemicPresident Joe Biden’s administration has begun stockpiling mRNA vaccines in preparation for a bird flu pandemic to be unleashed ahead of the November presidential election.READ THE FULL REPORTScientists Launch New Bird Flu mRNA Vaccine for Mass Public VaccinationsScientists have just unveiled a new experimental mRNA vaccine that they claim is “ready” to be pushed onto the general public to “prevent human infections” of bird flu.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
END
7.OIL PRICES/GAS PRICES/OIL ISSUES
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
VENEZUELA
END
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0885 UP .0024
USA/ YEN 156.82 DOWN 0.012 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2782 UP .0011
USA/CAN DOLLAR: 1.3624 DOWN .0004 (CDN DOLLAR UP 4 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 11.49 PTS OR 0.46%
Hang Seng CLOSED DOWN 6.19 PTS OR 0.03%
AUSTRALIA CLOSED DOWN 0..29 %
// EUROPEAN BOURSE: ALL MOSTLY RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY RED
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 6.19 OR 0.03%
/SHANGHAI CLOSED DOWN 14.47 PTS OR 0.466%
AUSTRALIA BOURSE CLOSED DOWN 0.29%
(Nikkei (Japan) CLOSED DOWN 44.65 PTS OR 0.11%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2344.75
silver:$31.56
USA dollar index early MONDAY morning: 104.31 DOWN 33 BASIS POINTS FROM FRIDAY’s CLOSE.
MONDAY MORNING NUMBERS ENDS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
And now your closing MONDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.201% DOWN 0 in basis point(s) yield
JAPANESE BOND YIELD: +1.023% UP 2 AND 1/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.342 DOWN 1/2 in basis points yield
ITALIAN 10 YR BOND YIELD 3.901 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.5901 DOWN 1/2 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0847 UP 0.0036 OR 36 basis points
USA/Japan: 156.91 UP .0.072 OR YEN IS DOWN 7 BASIS PTS
Great Britain/USA 4.321 UP 3 BASIS POINTS //
Canadian dollar DOWN .0014 OR 14 BASIS pts to 1.3642
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2453 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2635)
TURKISH LIRA: 32.19 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +1.024…
Your closing 10 yr US bond yield DOWN 1 in basis points from FRIDAY at 4.492% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.6113 UP 3 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.931 DOWN 2 BASIS PTS.
GOLD AT 11;30 AM 2357.35
SILVER AT 11;30: 31.97
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 12:00 PM//
London: CLOSED DOWN 63.41 PTS OR 0.76%
German Dax : CLOSED DOWN 96.84 PTS OR 0.52%
Paris CAC CLOSED DOWN 74.69 PTS OR .92 %
Spain IBEX CLOSED DOWN 49.50 OR 0.44%
Italian MIB: CLOSED DOWN 102.42 PTS OR 0.29 PTS
WTI Oil price 79.38 12EST/
Brent Oil: 83.84 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 88.58 ROUBLE UP 0 AND 9/100
GERMAN 10 YR BOND YIELD; +2.591 DOWN 1/2 BASIS PTS.
UK 10 YR YIELD: 4.321 UP 3
BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0859 DOWN 0.0042 OR 42 BASIS POINTS
British Pound: 1.2762 DOWN 0.0010 OR 10 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.3115 UP 2 BASIS PTS//
JAPAN 10 YR YIELD: 1.040%
USA dollar vs Japanese Yen: 157.14 UP .304/ YEN DOWN 31 BASIS PTS//
USA dollar vs Canadian dollar: 1.3645 UP 17 //CDN dollar DOWN 17 BASIS PTS
West Texas intermediate oil: 80
Brent OIL: 84.46
USA 10 yr bond yield UP 7 BASIS pts to 4.540
USA 30 yr bond yield UP 8 BASIS PTS to 4.6554%
USA 2 YR BOND: UP 2 PTS AT 4.9474
USA dollar index: 104.53 UP 25 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32. 22 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 88.59 UP 0 AND 5//100 roubles
GOLD 2,358.50 3:30 PM
SILVER: 32.01 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 216.79 PTS OR 0.55 %
NASDAQ UP 61.09 PTS OR 0.32 %
VOLATILITY INDEX: 12.09 UP 0.31 PTS OR 4.13%
GLD: $218.19 UP 2.27 OR 1.05%
SLV/ $29.44 UP 1.54 OR 5.41%
end
USA AFFAIRS
NVDA Sucks All The Oxygen Out Of The Market Again…
TUESDAY, MAY 28, 2024 – 04:00 PM
Two words – F**king NVDA – sum up today as the AI giant accelerated on the back of a gamma-squeeze…
…which created these gains…
And now we are up 4500% in one day. Hey
, maybe once you emerge from under Senator Karen’s skirt, you can pretend to do your job.
Quote
zerohedge
@zerohedge
·
4h
When the world’s soon-to-be-biggest stock gets gamma squeezed day after day
·
119K Views
…to within $100 Billion of AAPL’s market cap…
Source: Bloomberg
…that is an addition of almost $500 billion since earnings last week.
And as NVDA soared…
Source: Bloomberg
…the major indices tumbled from Friday’s cash market close. The Dow is the biggest loser, followed by Small Caps. Nasdaq tried desperately to hold on to a green close while the S&P faded. The ubiquitous last minute ramp made things look a little better on the day…
NOTE – yesterday – while cash markets were closed, the algos seemed to forget and panic-bid futs into the early close.
“What I think this sets up for in the medium- to long-term is a price-action that looks more like either a grinding move higher but also one too where we have actual conditions to crash-down,” says Nomura’s Charlie McElligott. He notes that investors’ long exposure has been rebuild to such a degree that it’s creating actual downside hedge demand.
With US elections also entering their hot phase soon, it’s worth noting that VIX futures are already reacting with some sensitivity and rather early to this topic.
NVDA was not the only thing rising today though – oil prices surged back above $80 (WTI), Gold jumped back above $2360, Bitcoin spiked back above $70,500 overnight (before fading on Mt.Gox moves), the dollar ripped higher, and US Treasury yields soared after two auctions and some stronger than expected macro data (home prices at record highs and conference board confidence, and inflation expectations, rising).
We do note two things – Dallas Fed Manufacturing tumbled today more than expected and while the headline confidence data picked up at The Conference Board, the lowest income cohort saw confidence plunged to pandemic lows…
Source: Bloomberg
Treasury yields were up across the board with the long-end underperforming. Selling was pretty constant from the US cash equity open…
Source: Bloomberg
That steepened the yield curve significantly…
Source: Bloomberg
Interestingly (given the steepening and short-end outperformance), rate-cut expectations (hawkishly) fell significantly on the day…
Source: Bloomberg
The dollar followed yields higher…
Source: Bloomberg
Gold managed to hold gains despite the dollar strength…
Source: Bloomberg
After 10 straight days of net ETF inflows, Bitcoin extended gains overnight, back above $70,000. However, moves in Mt.Gox-related wallets prompted selling in anticipation of selling pressure to come…
Source: Bloomberg
Oil prices soared back above $80 (WTI)…
Source: Bloomberg
Finally, this is probably nothing…
Source: Bloomberg
…because it’s different this time.
END
MORNING TRADING//
AFTERNOON TRADING/FOMC MINUTES
II USA DATA
Conference Board Consumer Confidence Rebounds In May… As Inflation Expectations Hit 2024 Highs
TUESDAY, MAY 28, 2024 – 10:10 AM
After dropped near the lowest level in eleven years last month, the Conference Board Consumer Confidence expectations index soared in May from 68.8 (upwardly revised from 66.4) to 74.6. The Present Situation rose from 140.6 (revised down from 142.9) to 143.1.
The best expectations print since Feb dragged the headline index up notably to 102.0 (well above the 96.0 exp)…
Source: Bloomberg
The overall trend in labor market indicators remains weaker…
Source: Bloomberg
Plans to buy a home fell, plans to buy a car were flat, but plans to buy large household appliances soared…
Source: Bloomberg
Conference Board Inflation Expectations (for one year ahead) rose to 5.4% – the highest since Dec 2023…
Source: Bloomberg
Expectations for rates to be higher and stocks to be higher both increased.
END
III USA ECONOMIC COMMENTARIES
Republicans Are Winning The Voter Registration Battle In Battleground States
SATURDAY, MAY 25, 2024 – 05:30 PM
Authored by Austin Alonzo via The Epoch Times (emphasis ours),
Republicans are closing the gap on voter registrations in key swing states. Political observers say it could be a sign the party will perform well in November.
The gap between registered voters in the Democratic Party and Republican Party shrank significantly in Pennsylvania, Nevada, and North Carolina, according to voter registration statistics collected in April.
Taking the combined voter totals in the three states, Republicans have eroded the Democratic registration advantage by more than 54 percent between 2019 and 2024.
In Arizona, a fourth critical state, Republicans extended their lead in registered voters by more than 71 percent during the same period.
The four states are among the most prized possessions in presidential politics. Collectively, they represent 52 electoral votes. In 2020, Joe Biden carried all except North Carolina. In 2016, Donald Trump took everything but Nevada.
The registration trends don’t necessarily mean Republicans will sweep the states, but they’re a sign that the GOP will be able to more easily target and turn out its voters in those states than it did in 2020.
“On balance, you’d certainly rather have more registrations in your direction than the other direction,” Daniel Hopkins, a professor at the University of Pennsylvania’s Ronald O. Perelman Center for Political Science and Economics, told The Epoch Times.
The largest numerical shift occurred in the Keystone State where the Democrat lead has shrunk by some 400,000 votes since May 2019.
In May 2019, more than 4 million were registered as Democrats, and about 3.2 million were registered Republicans, according to voter registration data collected by the Pennsylvania Department of State.
By the end of April, almost 3.9 million Pennsylvanians were registered as Democrats, while nearly 3.5 million were registered as Republicans.
During the same period, the total number of registered voters increased to more than 8.7 million from nearly 8.5 million. The electorate registered with the Libertarian Party or “other parties,” as the state identifies them, remained relatively stable at 1.2 million during the same period.
Along with the rematch between President Biden and former President Trump, Pennsylvania voters will consider a Senate race crucial to the balance of power in Washington. Sen. Bob Casey (D-Pa.) will square off against Republican businessman Dave McCormick.
Mr. Hopkins said the seismic change in voter registration could be linked to a growing number of what he called “ancestral Democrats” in rural Pennsylvania either falling off the rolls or registering with another party. These moderate voters are just as likely to vote Democratic as Republican, he predicts.
Nevertheless, Mr. Hopkins said the statistics indicate the state’s voters are moving toward the right and there is more parity in the electorate than in previous cycles. This aligns with the Republican Party’s growing appeal with white, high-school-educated voters, he said.
Pennsylvania GOP chairman Lawrence Tabas said erasing the voter registration deficit is a “top priority” in the state.
Mr. Tabas said volunteers are knocking on doors and making phone calls in efforts to register more Republican voters.
“So far this year, all 67 counties have registered more Republican voters than any other party,” Mr. Tabas said in a statement provided to The Epoch Times.
“These numbers, coupled with our mail-in ballot increases, are sure to help set up Republican victories in all regions of the Commonwealth this November.”
Representatives of the Pennsylvania Democratic Party didn’t respond to a request for comment from The Epoch Times.
North Carolina
The biggest percentage change occurred in the Tarheel State and the most significant statistic is that unaffiliated voters now exceed those of either major party.
The unaffiliated electorate grew to about 2.7 million members from about 2.2 million between April 2019 and April 2024, while the overall registered voter tally increased to 7.4 million from 6.8 million.
In the same time period, the number of registered Republicans rose to about 2.2 million from about 2 million and the number of registered Democrats fell from about 2.5 million to 2.4 million, according to statistics collected by the North Carolina State Board of Elections.
Overall, the gap between party registrations diminished 62 percent between that five-year period.
“Growth in … unaffiliated registration could be seen as dissatisfaction with the major parties or a preference against that identification,” said Jon Green, an assistant professor of political science at Duke University’s Trinity College of Arts & Sciences.
“That certainly reflects a low enthusiasm, but may or may not reflect a change in behavior.”
Ultimately, the unaffiliated vote will decide the statewide races, he told The Epoch Times.
North Carolinians will pick a new governor in the fall. Gov. Roy Cooper, a Democrat who was first elected in 2016, isn’t seeking a third term in office. Lieutenant Gov. Mark Robinson, a Republican, is running against North Carolina Attorney General Josh Stein, a Democrat.
Read more here…
end
CEO Of Russia’s Second-Largest Bank Warns: “US Is Inevitably Headed For A Serious Economic Crisis”
MONDAY, MAY 27, 2024 – 03:40 PM
Last September, we told readers that the US national debt was skyrocketing at a staggering $1 trillion every three months—roughly every 100 days.
otal US Debt surpasses $33 trillion for the first time. For those keeping tabs, the US added $1 trillion in debt in three (3) months.
·
Since then, the debt spending has gotten worse.
And we’re off: US debt rises by $89BN on the last day of February, to $34.471 trillion, a new record high Debt has increased by $280BN in February and by $470BN in the first two months of the year. At this pace debt will hit $37 trillion by year-end and $40 trillion by the end of 2025, two years early vs the CBO’s forecast
And the answer is… +$28.9BN in one day, up to a record high $34.405 trillion, up $138BN in the past week, and up $404BN since the start of the year.
And by “strong economic performance” you mean $1 trillion in debt every 100 days
YELLEN,,
America’s strong economic performance under @POTUS’s leadership continues to serve as a key engine for a resilient global economy. As my G7 counterparts and I gather, we must work together to bolster the global economy and promote sustainable growth. https://home.treasury.gov/news/press-releases/jy2363…
·
225.8K Views
Out-of-control spending has delayed the US economy’s day of reckoning in this year’s presidential election cycle. But it has become very evident an economic crisis looms in the years ahead.
One River Asset Management CIO, Eric Peters, recently said, “I have a growing conviction that in the coming 2-5 years, we’re going to face a US debt sustainability crisis, sparking a major global market event.”
BofA CIO Michael Hartnett recently noted what we said previously about the unsustainable debt explosion…
And now, fresh comments from Andrey Kostin, CEO of Russia’s second-largest bank, have emerged—comments that Western mainstream media dare not share with their audiences. Why is that? … Well, the Washington censorship blob wouldn’t allow it.
Russian state-owned news agency TASS cited Kostin’s interview with the Fontanka publication, who warned if it wasn’t for the dollar’s status as the world’s reserve currency, a sovereign debt crisis would’ve already been underway in the US. No matter what, he warned the US economy is on the verge of an economic crisis.
“I am thoroughly convinced that America is inevitably headed for a serious economic crisis. The amount of debt currently held by the US today has reached inconceivable, astronomical levels. And the dollar’s monopoly on the global stage is the only thing enabling the Americans to maintain such a level of debt. If the Chinese or the Arabs took their money out of the US, a complete collapse would ensue for the financial sector and the government,” he said.
Kostin added:
“If the West fails to revise its policy I think that the move toward the collapse of the colonial system will only accelerate.”
Kostin noted that China has been disposing of US government debt. Last month, we asked: “Is China’s ‘Dumping’ Driving US Treasury Yields Higher?”
China’s Treasury holdings are back to levels not seen since June 2009.
It’s not just China. Treasury holdings are ‘relatively’ flat (based on Fed custody data), while according to The IMF, the world’s sovereign nations have been panic-buying gold.
It’s not just Kostin sounding the alarm about a looming US debt crisis — Wall Street analysts have echoed the same dire warnings.
Here’s a question: What ever happened to the economic collapse of Russia via endless Western sanctions?
END
13th Oregon County Votes To Secede And Join ‘Greater Idaho’
SATURDAY, MAY 25, 2024 – 02:35 PM
The “Greater Idaho” movement notched another victory this week, as Oregon’s Crook County became the 13th county to vote to secede from leftist domination and join its more like-minded neighbors to the east. About 53% of voters approved a referendum recommending that county leaders engage in “continued negotiations regarding a potential relocation of the Oregon-Idaho border to include Crook County.”
“The voters of eastern Oregon have spoken loudly and clearly about their desire to see border talks move forward,” said Greater Idaho executive director Matt McCaw. “With this latest result in Crook County, there’s no excuse left for the Legislature and Governor to continue to ignore the people’s wishes.”
The group said the final tally was only as close as it was due to spending by Western State Strategies, which it described as a “social justice non-profit based in Portland.” On its own site, Western State Strategies has accused Greater Idaho of “writing the most recent chapter in a long history of dangerous secessionist movements that appeal to bigotry to fuel division.”
Greater Idaho sees things differently. “Northwestern Oregon is embarking on social experiments: a cultural revolution that rural counties want no part of,” the group writes on its website. “Eastern Oregon has a different culture and values.” The group notes that 80% of Idaho’s legislature is Republican, and that it “govern[s] according to the concerns and priorities of rural counties.”
Why eastern Oregon should join Idaho Crook County: vote YES on county measure 7-86 this May! Visit our website to learn more!
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Greater Idaho’s ultimate goal would see 13 entire counties leave Oregon, along with portions of four more. One of the counties targeted for a split is Deschutes County, which would be cleaved east of Bend, an outdoor mecca in Oregon’s high desert that has been spiraling deeper into blue depths, prompting some to flee. Crook County joins Jackson, Klamath, Lake, Harney, Malheur, Baker, Grant, Wheeler, Jefferson, Wallowa, Union and Morrow counties, which have previously approved measures to negotiate an exit.
If the group’s goal comes to full fruition, Oregon would end up 62% smaller by size, but only 9% smaller by population. That math that underscores the contrast between the sparsely populated, rural eastern region and the more densely-populated coastal areas. It also highlights the eastern counties’ lack of political strength in influencing statewide decisions.
Oregon shouldn’t exist as a political entity, as currently drawn. The people in the east and south of the state have little in common with the urban core that dominates the state’s politics. Greater Idaho should be encouraged. Why trap people where they have no voice?
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“Oregon politicians don’t understand how we make a living,” argues Greater Idaho. “Their decisions damage industries like timber, mining, trucking, ranching and farming. They want to remake the Oregon we’ve known our whole lives. We want to preserve the values and way of life of old Oregon as a part of Idaho.”
While the group’s momentum is undeniable, there are daunting hurdles ahead. For the border to move, the Oregon and Idaho legislatures must approve it, along with the US Congress. In 2023, the Idaho house passed a measure to pursue discussions of a border change, but it stalled in the Idaho senate.
The Greater Idaho movement is fully consistent with American values rooted in the principal of self-determination and government by consent. While leftist opponents of the movement call it “dangerous,” a calmly-negotiated border move is certainly the least dangerous path to a new governing arrangement that eastern Oregonians are entitled to.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
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iiiC USA COVID //VACCINE ISSUES
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FREIGHT ISSUES/USA
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VICTOR DAVIS HANSON
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SWAMP NEWS
Special Counsel Requests (Another) Gag Order For Trump In Classified Docs Case
SATURDAY, MAY 25, 2024 – 06:05 PM
Authored by Caden Pearson via The Epoch Times,
Special counsel Jack Smith’s prosecutors asked the judge presiding over former President Donald Trump’s classified documents case in Florida on Friday to issue a gag order following remarks he made about the FBI raid on his Mar-a-Lago estate.
In a filing on Friday, prosecutors asked Judge Aileen Cannon to modify the conditions of President Trump’s release from jail before trial to prevent him from making statements that may pose a “significant, imminent, and foreseeable danger” to the FBI agents involved in the planning and execution of the search and seizure of presidential documents stored at his Florida estate.
“Those statements create a grossly misleading impression about the intentions and conduct of federal law enforcement agents—falsely suggesting that they were complicit in a plot to assassinate him—and expose those agents, some of whom will be witnesses at trial, to the risk of threats, violence, and harassment,” the filing states.
Earlier this month, an operations plan for the Mar-a-Lago raid was produced through discovery. The plan stated that FBI agents would be prepared to “engage with” President Trump and his Secret Service agents should he arrive at the estate during the raid.
The use of deadly force was included in a statement on the document, which quoted standard government policy that noted deadly force may be used “only when necessary” in such cases when the subject of the force “poses an imminent danger of death or serious physical injury to the officer or to another person.”
President Trump’s lawyers stated that there was no justification for the FBI to bring guns into Mar-a-Lago.
Prosecutors say President Trump “distorted the standard inclusion of the policy” when he made statements that the FBI “WAS AUTHORIZED to SHOOT ME.”
Additionally, the former president’s 2024 presidential campaign issued an alert stating that the Department of Justice (DOJ) was “locked and loaded” and “ready to take me out” because the FBI was authorized to “use deadly force” during the raid.
Prosecutors say in their Friday filing that the law enforcement agents participating in the raid acted in an “appropriate and professional manner, subject to the Department of Justice’s standard use-of-force policy.”
“Trump‘s repeated mischaracterization as an attempt to kill him, his family, and Secret Service agents has endangered law enforcement officers involved in the investigation and prosecution of this case and threatened the integrity of these proceedings,” the filing states. ”Those deceptive and inflammatory assertions irresponsibly put a target on the backs of the FBI agents involved in this case, as Trump well knows.”
Prosecutors noted that “an armed attack on an FBI office in Cincinnati, Ohio, was carried out by one of his supporters in the wake of Trump’s Truth Social statements inflaming his supporters regarding the search of Mar-a-Lago.”
The Epoch Times contacted President Trump’s attorneys for comment.
President Trump’s lawyers objected to the prosecution’s motion and timing of their request on the Memorial holiday weekend, according to prosecutors.
“They do not believe that there is any imminent danger, and asked to meet and confer next Monday,” the filing states.
However, prosecutors pointed to President Trump’s Truth Social account evidence not to wait until Monday, highlighting a statement by a third party that he shared. Prosecutors say, “Trump has continued to issue false statements, smearing and endangering the agents who executed the search.”
The reshared post included the statement “claiming that the FBI was authorized to use ‘Lethal Force’ on Trump or anyone at MAL– WHILE the FBI/DOJ plants evidence to frame Trump!!!”, according to the filing.
The request for a gag order is the first in President Trump’s classified documents case.
An aerial view of former U.S. President Donald Trump’s Mar-a-Lago home after FBI agents raided it, in Palm Beach, Fla., on Aug. 15, 2022. (Marco Bello/Reuters)
On Thursday, Attorney General Merrick Garland responded to claims about FBI agents being authorized to use deadly force.
Mr. Garland disputed the former president’s claims, saying that the document President Trump referred to “is the Justice Department’s standard policy.”
“And in fact, it was even used in the consensual search of President [Joe] Biden’s home,” he added.
Earlier this week, the FBI told The Epoch Times that its agents had “followed standard protocol” in the Mar-a-Lago search “as we do for all search warrants.”
END
DENIED
(EPOCH TIMES)
Federal Judge Denies Jack Smith’s Request For Gag Order Against Trump
TUESDAY, MAY 28, 2024 – 01:00 PM
Authored by Jack Phillips via The Epoch Times (emphasis ours),
U.S. District Judge Aileen Cannon on Tuesday denied a gag order request submitted by special counsel Jack Smith in former President Donald Trump’s classified documents case.
Over the past weekend, Mr. Smith’s team asked Judge Cannon to impose a gag order after President Trump had claimed that recently released discovery documents showed that the FBI agents were armed and were prepared to shoot him during the August 2022 search of his Mar-a-Lago property. The FBI last week, however, disputed those claims and said the documents merely suggested the agents were following bureau rules around search warrants.
In a paperless order, Judge Cannon denied Mr. Smith’s request without prejudice because, according to her, it is “wholly lacking in substance and professional courtesy.”
She added that the special counsel’s motion also “did not adhere to … basic requirements” and that “any future, non-emergency motion brought in this case—whether on the topic of release conditions or anything else—shall not be filed absent meaningful, timely, and professional conferral.”
“Sufficient time needs to be afforded to permit reasonable evaluation of the requested relief by opposing counsel and to allow for adequate follow-up discussion as necessary about the specific factual and legal basis underlying the motion,” Judge Cannon added.
Mr. Smith’s team argued that the judge should move to restrict President Trump’s speech after he made the aforementioned claims about the FBI search.
“The Government moves to modify defendant Donald J. Trump’s conditions of release, to make clear that he may not make statements that pose a significant, imminent, and foreseeable danger to law enforcement agents participating in the investigation and prosecution of this case,” the filing from Mr. Smith said.
After Mr. Smith’s motion to place the order on President Trump, his attorneys responded by saying that the special counsel should be sanctioned because he allegedly violated a rule that says both parties must confer before such filings are made.
“For the reasons set forth below, in light of the Office’s blatant violation of Local Rule 88.9 and related warnings from the Court, the Court should strike the Motion, make civil contempt findings as to all government attorneys who participated in the decision to file the Motion without meaningful conferral, and impose sanctions after holding an evidentiary hearing regarding the purpose and intent behind the Office’s decision to willfully disregard required procedures,” President Trump’s lawyers wrote on Monday.
Trump attorney Todd Blanche asked prosecutors in the case to wait until Monday to meet, which Mr. Smith declined because of President Trump’s public comments.
“As we also tried to explain earlier, our judgment was that the situation your client has created necessitated a prompt request for relief that could not wait the weekend to file. We understand your position and represented to the court that you do not believe the government has engaged in adequate conferral here,” special counsel prosecutor David Harbach said in a letter to President Trump’s attorneys.
Mr. Smith’s team said that President Trump’s comments should be limited by the court due to an attack on an FBI field office in Cincinnati, Ohio, in August 2022. They claimed that the attack occurred after President Trump allegedly made inflammatory comments after the FBI’s Mar-a-Lago search, which occurred that same month.
Last year, President Trump pleaded not guilty to 37 criminal counts related to his handling of classified materials after he left the White House in January 2021, as prosecutors have alleged that he also refused to turn them over to federal officials. They also argued that the documents contained classified information regarding nuclear secrets, defense capabilities, and other details.
Earlier this month, Judge Cannon suspended the trial date indefinitely and noted that there are a number of outstanding issues that need to be resolved, including how to handle classified evidence under the Classified Information Procedures Act.
The judge also has been critical of both parties when they have not conferred on previous matters when submitting motions to dismiss.
Meanwhile, the FBI told The Epoch Times in a statement about a week ago that its agents “followed standard protocol in this search as we do for all search warrants, which includes a standard policy statement limiting the use of deadly force” during the August 2022 raid. “No one ordered additional steps to be taken and there was no departure from the norm in this matter.”
President Trump, in campaign-related emails and statements, wrote that the FBI was “locked and loaded,” referring to to the agency’s use-of-force policy that it used during the search.
“Holy F**K”: US Military Hid Quantico Breach Attempt By Jordanians In Box Truck In Possible Dry-Run
MONDAY, MAY 27, 2024 – 02:20 PM
Weeks ago, two individuals in a box truck attempted to breach the gates at Quantico Marine Corps Base in Triangle, Virginia. Armed guards immediately stopped them, and the base’s top brass quickly covered up the incident.
The reason for burying this incident? It’s an election year for President Biden – and this type of news is politically explosive. The suspects were two Jordanian nationals, one reportedly on the FBI’s terrorist watch list, raising suspicions that they entered illegally through the Biden administration’s open southern border, as one report says, adding this could’ve been a dry run for a potential vehicle-borne improvised explosive device attack.
Potomac Local News first reported the incident. Since then, the New York Post has exposed how the May 3 incident was potentially covered up, even for those on the base for two weeks.
Matt Strickland was the first to report the incident to the local media outlet. He told NYPost, “After I [raised the alarm], I had people who work at Quantico messaging me saying, ‘Holy f—k, when did this happen?”
Great reporting from the
. Shoutout to them for somehow getting my address and coming to my house to get the whole story. That’s real journalism. Most news outlets won’t report on this story because it shows the danger open borders cause.
Military hid attempted Quantico base breach by Jordanians from…
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He said, “Two weeks after it happened, Quantico finally put an email out to employees on base letting them know.”
“It was basically ‘F—k, guys, I guess we aren’t going to be able to keep this secret, we should try to do some CYA’ [cover your ass],” said Strickland, a former Blackwater contractor and combat incident analyst at the National Ground Intelligence Center.
Strickland said, “Every American has a right to know what happened at Quantico,” adding, “Citizens have a right to know what is going on in their backyard.”
Why is that, you ask?
Well, as the NYPost explained:
Some reports speculated the two men arrested had recently crossed the southern border into the US, and one was [said to be] on the US government’s terrorist watch list.
Strickland was told one of the people involved had a Virginia ID, while the other was a terrorist. The Post has not been able to independently verify either rumor.
Both men are in Immigration and Customs Enforcement (ICE) custody. Authorities would not comment further, only saying the two will remain in ICE custody until deported.
Strickland continued:
“Who would they be keeping that information from? The reasoning would be so the terrorists, or whoever the Jordanians are working for, don’t know all the information. But whoever those two Jordanian men are working for already know what they planned to do and that they were apprehended.
“The only people who don’t know what happened are the American people.”
This is why Strickland believes the incident was abruptly covered up:
“The secrecy is purposeful because it was illegal immigrants, one of who was on the terror watch list, who breached the gates.
“And they’re allowing these illegal immigrants to come across the border.”
The NYPost’s Editorial Board asks…
And this is not the first incident. We covered a report over the weekend of two undocumented Chechens, with one using a “telephoto lens” – taking photos outside the home of an elite US Army special forces colonel near Fort Liberty, formerly Fort Bragg, in North Carolina.
None of this should be surprising to ZeroHedge readers. The Biden administration’s experiment of letting unvetted and unvaxxed illegal aliens into the nation – upwards of ten million – is truly shocking. Even the Department of Homeland Security admitted the southern border has been open to terrorists and criminals. The FBI has made similar warnings, with known terrorists apprehended on the border.
Recall earlier this year, Ohio Sheriff Richard K. Jones warned, “There are more red flags going off now than before 9-11” thanks to open southern borders.
Also, an Iranian intelligence officer is running around America, plotting assassination attacks against former and current government officials.
Don’t forget the countless terrorists that have already crossed the border and are unknown at this point because of open southern border policies.
Great job, Democrats. The American people will never forget how open southern borders have fueled chaos nationwide—all because you want a new voting base. How selfish. This issue will haunt the party in the upcoming elections, as the majority of Americans are fed up.
KING REPORT
| The King Report May 28, 2024 Issue 7251 | Independent View of the News |
| Reuters: Exclusive: Putin wants Ukraine ceasefire on current frontlines Russian President Vladimir Putin is ready to halt the war in Ukraine with a negotiated ceasefire that recognizes the current battlefield lines, four Russian sources told Reuters, saying he is prepared to fight on if Kyiv and the West do not respond… two of the sources said Putin was of the view that gains in the war so far were enough to sell a victory to the Russian people. https://www.reuters.com/world/europe/putin-wants-ukraine-ceasefire-current-frontlines-sources-say-2024-05-24/ US President Joe Biden is likely to miss a Peace Summit in Switzerland in June because of a campaign fundraiser in California… the Peace Summit in Switzerland is scheduled for 15-16 June, after the G7 meeting in Italy… Switzerland has agreed to organise at the request of Ukrainian President Volodymyr Zelenskyy… Bloomberg noted that the absence of China would probably disappoint Zelenskyy… https://www.eurointegration.com.ua/eng/news/2024/05/24/7186646/ China sends dozens of warplanes and ships near Taiwan to show its anger over island’s new leaders The defense ministry said it tracked 49 Chinese warplanes and 19 navy vessels, as well as coast guard vessels, and that 35 of the planes flew across the median line in the Taiwan Strait, the de facto boundary between the two sides, over a 24-hour period from Thursday to Friday. https://apnews.com/article/taiwan-china-military-exercises-b7ebf10c18a40417b8017510b833224d Someday, possibly before the 2024 Election, China’s Taiwan invasion drill will be the real thing! @BloombergTV: Federal Reserve Governor Christopher Waller warns that the “unsustainable fiscal path” of the US could put upward pressure on the neutral rate during a speech at the Reykjavik Economic Conference in Iceland https://trib.al/2jD1GJj Janet Yellen says many Americans still struggling with inflation US Treasury secretary expresses concern over ‘substantial’ increases in living costs “They see it when they shop for food,” she added. “They see it in terms of rentals. With higher mortgage rates, it’s tough for young people who would like to buy a house to enter the market.”… https://www.ft.com/content/38935f6b-4f61-4001-84a7-226e52d9a184 Nearly 80% of Americans now consider fast food a ‘luxury’ due to high prices Survey: Half of those polled see fast food as too expensive because they’re struggling financially https://www.foxbusiness.com/economy/americans-consider-fast-food-luxury-high-prices @RealEJAntoni: According to the Quarterly Census of Employment and Wages, job growth in ’23 was 1.5%, not the 2.0% previously published by BLS – that means the monthly job reports overestimated nonfarm payroll growth by over 770k last year, and that’s on top of the downward revisions… https://x.com/RealEJAntoni/status/1793622705075605786 @unusual_whales: Hiring for professionals making a six-figure income is at the worst its been since 2014, per Business Insider: “Welcome to the white-collar recession. The more you earn, the harder it is to find a job right now,” per Business Insider. https://x.com/unusual_whales/status/1794002158872055808 The KC Fed says immigration has “dampened” wages for US workers. FEDERAL RESERVE BANK OF KANSAS CITY | MAY 22, 2024 Rising Immigration Has Helped Cool an Overheated Labor Marke The same influx of immigrant workers that helped fill job openings also dampened wage pressures across the affected industries and states. At the industry level, sectors with some of the highest immigrant workforce growth, such as construction and manufacturing, saw the sharpest deceleration in wage growth (specifically, average hourly earnings) from 2021 to 2023… wage growth slowed by roughly 0.7 percentage points for every 1.0 percentage point increase in an industry’s immigrant employment growth… https://www.kansascityfed.org/Economic%20Bulletin/documents/10190/EconomicBulletin24Cohen0522.pdf @CortesSteve: Chuck Schumer: “Our ultimate goal” is to give every illegal alien citizenship. The open border is by design. Democrats want to remake the electorate and replace American citizens https://x.com/CortesSteve/status/1794062318243926380 Chuckles the Clown claims the US has a worker shortage and our population is not reproducing enough. @elonmusk: The goal of citizenship for all illegals is very clearly stated by the leader of the Senate. For some reason, a lot of people still think this is some crazy conspiracy theory! @EndWokeness: Westbrook city (GA) official admits 90-95% of his city’s welfare recipients are illegals: https://x.com/EndWokeness/status/1794125471212519615 @WallStreetSilv: If you import millions of fake refugees into the cities and give them subsidies to rent housing… guess what happens to rent prices… at the lower end of the cheap rental market? @StephenM: WSJ just published a story on the flood of illegal alien minors Biden has imported that are now overwhelming America’s public schools — many who are not able to read or write in their own language. As usual, the needs and hopes and safety of American children will come last. https://t.co/8GlEYVKKvL Putin signs decree allowing seizure of US assets in Russia Russia will now have jurisdiction over American property in Russia to compensate for damages from the seizure of Russian assets in the United States, according to a decree of Russian President Vladimir Putin on the procedure for compensating damage to Russia from unfriendly actions of the United States… https://tass.com/politics/1792345 US Durable Goods Orders for April: +0.7%, -0.8% expected, but March huge downward revisions to 0.8% from 2.6% (Bidenomics); Ex-Trans 0.4%, 0.1% expected, prior to 0.0% from 0.2%; Nondefense Ex-Air 0.3%, 0.1% expected, prior to -0.1% from +01%; Shipments 0.4%, 0.1% expected, prior revised to -0.3% from 0.0% May UM Sentiment 69.1, 67.7 expected, prior 67.4; Current Conditions 69.6, 68.8 expected and prior; Expectations 68.8, 67 expected, 66.5 prior; 1-year Inflation 3.3%, 3.4% expected, prior 3.5%; 5-10-year Inflation 3.0%, 3.1% expected and prior (A bounce across the board after the prior ugly report) ESMs rallied moderately from the Nikkie opening until 23:00 ET. They then lost the entire rally by 3:16 ET. A steady rally then appeared until the 8 ET US bond market opening. ESMs then vacillated in a wide range until they soared after 10:00 ET on conditioned buying for the Friday rally. ESMs hit a peak of 5329.25 (+44.00) at 11:16 ET. In subdued pre-Memorial Day Weekend trading, ESMs traded sideways in the afternoon. ESMs fell to 5309.25 at 15:02 ET. The late manipulation took ESMs to 5232.75 at 16:00 ET. Fangs led the rally. At 11:45 ET, the DJIA was +93.00, the DJTA was +27.89, Nasdaq was +180.69, the NY Fang+ Index was +159.89. Tesla, Netflix, and Meta led the Fang rally. Nvidia oscillated between moderate gains and losses from the NYSE opening until it broke higher after the first hour of NYSE trading. NVDA hit a peak of 1049.91 at 11:04 ET and then retreated. Positive aspects of previous session Fangs soared, which boosted the S&P 500 Index and Nasdaq Precious metals and industrial commodities declined sharply. Negative aspects of previous session Oil and gasoline rallied sharply; The DJIA rallied only 4.33 points Ambiguous aspects of previous session How long will it take the market to adjust to the Fed’s new rate policy views? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5298.25 Previous session S&P 500 Index High/Low: 5311.65; 5278.39 Biden Administration Presses Allies Not to Confront Iran on Nuclear Program – WSJ The Biden administration is pressing European allies to back off plans to rebuke Iran for advances in its nuclear program, even as it expands its stockpile of near-weapons-grade fissile material to a record level, according to diplomats involved in discussions… (Obamaites continue to aid & abet Iran!) ABC News: Iran further increases its stockpile of uranium enriched to near weapons-grade levels, watchdog says https://abcnews.go.com/International/wireStory/iran-increases-stockpile-uranium-enriched-weapons-grade-levels-110586913 Biden’s $320M Gaza Pier Has Detached & Drifted onto Israeli Beach https://www.zerohedge.com/geopolitical/bidens-320m-gaza-pier-has-detached-drifted-israeli-beach @sentdefender: Tonight’s (Sunday) Airstrike by the Israeli Air Force on Western Rafah in the Southern Gaza Strip is now reported to have resulted in the Successful Elimination of Yassin Rabia, the Head of Hamas’s Terror Operations in the West Bank as well as Khaled Nagar, a Senior Officer with Hamas’s West Bank Headquarters. The Strike was conducted using Intelligence from the Israel Defense Force alongside Shin Bet, who had Pinpointed the Exact Location of the Two Targets. Israeli troops exchange fire with Egyptian soldiers near Rafah, killing one https://trib.al/gO5r8Qg Former Fed official’s bank set to receive rare master account approval, raising eyebrows Numisma, a small bank based in Greenwich, Connecticut, received conditional approval for a so-called master account, which gives state-chartered institutions access to the Fed’s liquidity facilities, including payment services at wholesale rather than retail prices… Numisma’s co-founder, Randy Quarles, was the vice chair of the Fed and governor during the Trump administration… https://t.co/OtoVVzqj0o Mysterious shooting outside Army Special Forces residence in North Carolina raises questions Chechen power company subcontractor found shot in North Carolina near Army colonel’s home U.S. Special Operations soldiers around the country have experienced strange interactions in recent years that they say involve suspicious surveillance of them and their families. Many believe that U.S. military bases have become an increasing target of foreign probes… (By Russia or its stooges?) https://www.foxnews.com/us/mysterious-shooting-army-special-forces-residence-north-carolina-raises-questions @laralogan: You do realize that when Chechens are surveilling the home and family of a senior Special Operations officer right next to one of the most significant training bases of the most elite forces this country has…..that the schiff has hit the fan. They are here, they are operational & they will not stop. How did they know who he was? And where he lived? They possibly had help from the inside. Navy Commander: We’re Seeing More Attempts by Foreign Nationals to Penetrate Bases, ‘Two or Three Times a Week’ https://www.breitbart.com/clips/2024/05/25/navy-commander-were-seeing-more-attempts-by-foreign-nationals-to-penetrate-bases-two-or-three-times-a-week/ Silicon Valley investors embrace Trump after years of leaning left: ‘Impossible to support Biden’ Prominent moguls such as David Sacks, Chamath Palihapitiya, Marc Andreessen and Shaun Maguire have grown disillusioned with signature Biden policy proposals… https://nypost.com/2024/05/24/business/silicon-valley-investors-turn-against-biden-embrace-trump/ Judge Approves Class-Action Lawsuit Against American Airlines Over ESG Pension Investments https://t.co/cQpkcENzF9 GameStop jumps 22% in after-hours after stock sale (Friday) [The Fed is too loose!] https://breakingthenews.net/Article/GameStop-jumps-22-in-after-hours-after-stock-sale/62111347 Yellen Says Higher Path for Rates Boosts Need to Lift Revenue (Taxes) – BBG 5/25/24 In its latest annual budget proposal, the White House projected 10-year Treasury yields at 3.7% in the early 2030s — almost a full percentage point higher than the 2.8% seen in its proposal three years before. Treasury-bill rates, which closely track the Fed’s benchmark rate, have gone up by about half a percentage point in those longer-term projections… “We’re going to be opening up a tax negotiation,” Yellen said… https://finance.yahoo.com/news/yellen-says-higher-path-rates-110000233.html @BearTrapsReport: So, we have an equity market ripping “at all time highs” with close to 40% of S&P 500 stocks down on the year? Yes. *In recent months, S&P 500 equal-weight vs. S&P 500 underperformance is near the most extreme going back to the 1990s. Today – The usual suspects will play for the Monday Rally (though it’s Tuesday). But seasoned traders realize that market breadth and volume has been diverging starkly with the new all-time highs of the S&P 500 Index. Stocks can continue to bubble up for an unknowable amount of time. However, unless breadth and volume soon move north, stocks will become increasingly vulnerable to a spirited decline. NQMs are +20.25; ESMs are +4.00; USMs are +3/32; Gold is +19.80; WTI Oil is +1.2% at 20:18 ET. The ugly Middle East news is boosting gold and oil; and they have reduced ESM and NQM rallies. Expected economic data: March FHFA House Price Index 0.5% m/m; March S&P CoreLogic 20-city home prices +0.3% m/m; May Conference Board Consumer Confidence 96; Minn Fed Pres Kashkari 9:55 ET, Fed Gov. Cook 13:05 ET S&P Index 50-day MA: 5173; 100-day MA: 5064; 150-day MA: 4880; 200-day MA: 4758 DJIA 50-day MA: 38,903; 100-day MA: 38,634; 150-day MA: 37,491; 200-day MA: 36,717 (Green is positive slope; Red is negative slope) S&P 500 Index (5304.72 close) – 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 is positive; MACD is negative – a close below 5062.73 triggers a sell signal Daily: Trender and MACD are positive – a close below 5232.86 triggers a sell signal Hourly: Trender is negative; MACD is positive – a close above 5320.68 triggers a buy signal Biden visits Hunter’s ex-girlfriend Hallie Biden ahead of her upcoming testimony at his gun trial Joe Biden visited the home of his daughter-in-law Hallie Biden Sunday night… Hallie was in a relationship with Hunter during the time of his alleged gun crimes and is expected to testify against him along with his ex-wife Kathleen Buhle… https://justthenews.com/government/white-house/president-biden-visits-hunters-ex-hallie-biden-ahead-her-upcoming-testimony Joe and Hunter Biden used a visit to Sandy Hook memorial service to set up secret meet with Chinese over $10m-a-year deal, new emails reveal – On December 12, 2017… Hunter Biden texted Chinese business partners to arrange a meeting with Joe… https://www.dailymail.co.uk/news/article-13448897/Hunter-Biden-meeting-Joe-Chinese-business-partners-texts-Sandy-Hookk.html Barack Obama makes surprise appearance at Joe Biden’s White House state dinner for Kenya https://www.dailymail.co.uk/news/article-13454213/Look-whos-Barack-Obama-makes-surprise-appearance-Joe-Bidens-White-House-state-dinner-Kenya.html Joe was alarmingly feeble and confused at the West Point graduation ceremony. https://t.co/Vprt9erXgE @RNCResearch: BIDEN (slurring incoherently): “Jill and I are honored to have you here and we’re representing, including many members of the Africa diaspora. One just left — Barack...” https://x.com/RNCResearch/status/1794011996565787009 Biden tells the Kenyan president “The African continent will have a billion people not too soon.” (Africa’s population is already ~1.4+ billion) https://t.co/omI3xnyudT FOX’s John Roberts on Biden’s so-called press conference: “I covered Clinton, I covered Bush 43, and I covered Trump — and I never, ever saw them using notes in a situation like this.” Biden can’t speak without notes. https://x.com/RNCResearch/status/1793728138020532267 @RNCResearch: Biden tells West Point graduates that he was “appointed” to the Naval Academy, where he “wanted to play football.” He has repeated this lie many times before and there is still no record any of it ever happened. https://x.com/RNCResearch/status/1794379823407616000 BIDEN (confused again): “The fall he a tied, that fall he decided, look — I shouldn’t get into this, probably.” https://x.com/RNCResearch/status/1794381438445318511 Don’t spill, Joe! https://x.com/RNCResearch/status/1794377186981392847 BIDEN: “You can clap for that” https://x.com/RNCResearch/status/1794381945884791082 (How sad and disturbing is it that the Commander in Chief had to beg West Pointers to applaud for him?) Rogan says Dems are terrified criticizing Biden will ’empower’ Trump so they’re ‘just lying to everyone’ – “We’re at this crazy part right before, where the president is like clearly gone and everybody’s like, ‘No, he’s amazing,’” Rogan said, slamming Biden’s supporters covering for him. “All these f—ing people, because they don’t want the other guy to win, are just lying to everyone and ruining their credibility.”… https://www.foxnews.com/media/rogan-says-dems-terrified-criticizing-biden-empower-trump-so-theyre-just-lying-everyone Feds secretly knew for years Joe Biden met with son’s Chinese partners on official trip Hunter Biden wrote his father was so enamored with China’s communist leader “they all most kissed,” new evidence shows… “The only reason Joe Biden wanted to kiss President Xi was because state-affiliated companies were about to line his family’s pockets with foreign wires and lucrative business opportunities,” said House Oversight Committee Chairman James Comer, who is leading the current impeachment inquiry. https://justthenews.com/accountability/political-ethics/feds-knew-2016-hunter-connected-his-chinese-business-partner-his Politico: Judge: To convict Trump of felonies, jury does not need to unanimously agree on what ‘predicate’ crime he committed – Trump’s defense argued that, to issue a felony-level conviction, all jurors should be required to agree on the “predicate” crime… https://www.politico.com/live-updates/2024/05/21/trump-hush-money-criminal-trial/no-unanimity-needed-for-predicate-crimes-00159225 @greta: This is wrong – jury must be unanimous on every element (it can’t be 4 believe one predicate and 8 believe another); judge is wrong https://t.co/E74nbBEmKR Here is Supreme Court case on unanimity: https://x.com/greta/status/1794514093669282232 @DC_Draino: If the jury convicts Trump in NYC, the media is going to celebrate like you’ve never seen. But it will be short lived. Trump will get this trial easily thrown out on appeal. Why? The judge is giving unconstitutional instructions to this jury. While Trump faces felony charges, NY-based Clinton campaign only faced fines for its records issue – Selective Prosecution? Following the 2016 election, the FEC determined the Clinton campaign incorrectly recorded opposition research as legal expenses but was only hit with an administrative fine. https://justthenews.com/politics-policy/elections/while-trump-faces-felony-charges-ny-based-clinton-campaign-only-faced GOP Rep. @timburchett: What stood out to me at the @realDonaldTrump rally in the Bronx wasn’t the massive crowd in the bluest county in the nation but the fact he didn’t pander to the races. He said we’re all Americans. New York Gov. Kathy Hochul calls Trump supporters ‘clowns’ in her own ‘basket of deplorables’ moment – In response to Hochul’s comments, the Trump campaign told Fox News Digital: “Kathy Hocul is just upset that President Trump is pulling crowds in her state that she could only dream of; and Democrats are in disarray because Americans, including Hispanics and Blacks, are waking up to the fact that Joe Biden and the Democrat Party have been using them for votes and ripping them off for decades.” “Kathy Hochul has once again revealed her true colors, disparaging millions of New Yorkers and demonstrating a shocking level of intolerance and disdain for a significant portion of our state’s population. This follows her appalling recent remarks labeling Catholics as ‘right-wing extremists’ and her suggestion that Black kids have never seen a computer before,” David Laska, director of communications for the New York GOP, told Fox News Digital… https://www.foxnews.com/politics/new-york-gov-kathy-hochul-calls-trump-supporters-clowns-holds-nyc-rally-bronx @McCormackJohn: In 2016, Justice Ginsburg—not her spouse—weighed in against Trump’s election, suggested fleeing the country, and made comments about his tax returns. Why did Senate Democrats not call for her recusal in any Trump case—including one about his taxes? https://thedispatch.com/newsletter/dispatch-politics/a-double-standard-in-alito-flag-flap/ Denali National Park bridge crew ordered to stop flying American flags According to the contractor, Denali National Park Superintendent Brooke Merrell contacted the man overseeing the federal highways project, claiming there had been complaints about the U.S. flags, and notifying him that bridge workers must stop flying the stars and strips from their vehicles because it detracts from the “park experience.”… (NPS denies that Merrell ordered this.) https://alaskawatchman.com/2024/05/23/denali-national-park-bridge-crew-ordered-to-stop-flying-american-flags/ Senator demands answers after American flag reportedly banned from beloved national park: ‘This is an outrage’ – In his letter, Sullivan explained that one of the construction vehicles involved in the project had a 3 x 5 foot American flag affixed to it, but for “reasons that remain unclear, someone at the National Park Service (NPS) caused the construction crew to remove the American flag.”… https://nypost.com/2024/05/26/us-news/sen-sullivan-demands-answers-after-american-flag-reportedly-banned-from-beloved-national-park-this-is-an-outrage/ Concerns Mount as Met Office Fiddles with Historic Temperature Record in Exact Way Planned in Leaked ‘Climategate’ Emails – Often the adjustments cool earlier periods going back to the 1930s and add warming in more recent times… https://dailysceptic.org/2024/05/25/concerns-mount-as-met-office-fiddles-with-historic-temperature-record-in-exact-way-planned-in-leaked-climategate-emails/ | |
GREG HUNTER INTERVIEWING BILL HOLTER
Next 6 Months Completely Insane – Bill Holter
By Greg Hunter On May 25, 2024 In Market Analysis9 Comments
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Back in August of 2023, precious metals expert and financial writer Bill Holter predicted there was a long list of financial trouble coming to America. A short list of problems is the commercial real estate implosion, CV19 vax injuries and deaths, deposits leaving the banking system and war all coming to a head between now and the 2024 Election. Holter starts with the CV19 bioweapon vax, “It turns out it was a kill shot. I guess you can say it adds to the timeline where they have to kick the table over because . . . they are going to have to hide that. That has to become back burner. Once you get a majority that is awake to that, you are going to have people pissed off all over the world. This is an election year, and I think the next six months are going to be completely insane. The deaths are increasing, and the knowledge that the (CV19) vaccine is the cause is spreading. They are going to have to bring something up to put that on the back burner, and that is probably WWIII.”
Holter goes on to add, “We have an election coming up, and I still believe there is less than a 40% chance that we even have an election. From a financial standpoint, you have commercial real estate that is imploding. You have bank deposits that have fled the banking system. You have the financial system really on the rocks. . . . Somebody had better start cutting rates because just in the past six months, China’s debt growth has turned negative, and so has their money supply. That is a recipe for complete disaster in an over-leveraged system. It’s not just China, it’s the whole world. The whole system is over-levered. Somebody had better cut rates to inflate; otherwise, Richard Russell’s ‘Inflate or Die’ comes into play.”
It seems the Fed is freaking out over interest rates. The Fed is not talking about cutting, it’s talking about raising rates in its last meeting. What’s going on with the Fed? Holter says, “They are fearful of a fiat collapse. They will more than likely cut rates, and then $15 a gallon gasoline and $25 for a cup of coffee is going to become a reality. In the intermediate to long term, interest rates are going to explode. . . . Interest rates need to be much higher to support fiat currency.”
Holter also predicts that gold and silver have already broken out to the upside and will be going much higher in price. Holter is especially bullish on silver after it broke through $30 an ounce, which it has not done for a decade. Holter says, “I think silver is more important than gold because silver is the fuse for gold. Silver is a tiny market compared to gold. The gold market is 10 times bigger. . . .They are losing control of silver . . . . If they want to keep gold under control, they better keep silver under control. The Achillies heel to all fiat currencies is gold. Again, if they want to keep gold under control they damn well better keep silver under control because silver is the fuse to the gold market.”
Holter thinks both gold and silver are going much higher in 2024 and beyond, and this is the breakout year for both.
There is much more in the 44-minute interview.
Join Greg Hunter as he goes One-on-One with financial writer and precious metals expert Bill Holter for 5.25.24.
(To Donate to USAWatchdog.com Click Here)
After the Interview:
Bill Holter’s website is growing by leaps and bounds. It’s called BillHolter.com .
If you need to contact Bill Holter, his email is bholter@proton.me.
END
SEE YOU TOMORROW
harveyorganblog.com 
