SHANGHAI GOLD (USD) FUTURES – QUOTES

Last Updated 06 Jun 2024 02:33:56 PM CT.

Market data is delayed by at least 10 minutes.

MONTH	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
JUN 2024 SGUM4	–	–	2387.7	–	–	–	0	12:30:19 CT 06 Jun 2024
JUL 2024 SGUN4	–	–	2401.8	–	–	–	0	12:30:19 CT 06 Jun 2024
AUG 2024 SGUQ4	2424.1	+22.1 (+0.92%)	2402.0	2410.0	2428.6	2406.7	1,452	12:30:19 CT 06 Jun 2024
OCT 2024 SGUV4	–	–	2426.3	–	–	–	0	12:30:19 CT 06 Jun 2024
DEC 2024 SGUZ4	–	–	2438.8	–	–	–	0	12:30:19 CT 06 Jun 2024
FEB 2025 SGUG5	–	–	2439.4	–	–	–	0	12:30:19 CT 06 Jun 2024
APR 2025 SGUJ5	–	–	2440.0	–	–	–	0	12:30:19 CT 06 Jun 2024

About this Report

I will now provide gold in Canadian dollars, British pounds and Euros

4: 15 PM ACCESS

*CANADIAN GOLD: $3243.02 UP 19.02 CDN dollars per oz( * NEW ALL TIME HIGH 3,305.30 CDN DOLLARS PER OZ//MAY 20 2024)

*BRITISH GOLD: 1854.44 UP 13.73 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024

*EURO GOLD: 2178.20 UP 12.87 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)

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EXCH: COMEX

EXCHANGE: COMEX
CONTRACT: JUNE 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,354.100000000 USD
INTENT DATE: 06/05/2024 DELIVERY DATE: 06/07/2024
FIRM ORG FIRM NAME ISSUED STOPPED

099 H DB AG 45
118 H MACQUARIE FUT 57
323 C HSBC 2
435 H SCOTIA CAPITAL 22
624 H BOFA SECURITIES 394 1
657 C MORGAN STANLEY 10
661 C JP MORGAN 73
661 H JP MORGAN 122
686 C STONEX FINANCIA 1
686 H STONEX FINANCIA 44
690 C ABN AMRO 6 6
732 C RBC CAP MARKETS 2
737 C ADVANTAGE 1 4
880 H CITIGROUP 131
905 C ADM 3

TOTAL: 462 462
MONTH TO DATE: 28,380

JPMorgan stopped 195/462

FOR JUNE 2024

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 462 NOTICES FOR 46,200 OZ or 1.4370 TONNES

total notices so far: 28,380 contracts for 2838,000 Oz (88.273 tonnes)

FOR JUNE:

SILVER NOTICES: 0 NOTICE(S) FILED FOR nil OZ/

total number of notices filed so far this month : 905 for 4.525 million oz

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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 $16.25

INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ :

HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.34 TONNES OF GOLD INTO THE GLD

/ /INVENTORY RESTS AT 833.55TONNES

INVENTORY RESTS AT 833.55 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER UP $1.27 AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 2.694 MILLION OZ INTO THE SLV

// INVENTORY INCREASES TO 417.944 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 417.944 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A SMALL SIZED 139 CONTRACTS TO 179,993 AND CONTINUING ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF $0.38 IN SILVER PRICING AT THE COMEX ON WEDNESDAY’S TRADING ON SILVER. WE HAD SOME ZERO LIQUIDATION AS WE HAD A NET GAIN OF 714 CONTRACTS ON OUR TWO EXCHANGES. WE, AGAIN HAD SHORT COVERING BY OUR SPECS WITH THE GAIN IN PRICE AS WELL AS MASSIVE T.A.S. LIQUIDATION. WE HAD ANOTHER HUGE SIZED 671 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 AS WHAT HAPPENED ON TUESDAY

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT: 671 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 TRADING.

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 $0.38) AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS WE DID HAVE A HUGE SIZED GAIN OF 714 CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE OF $0.38

WE MUST HAVE HAD:

A STRONG SIZED 575 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.830MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 65,000 OZ QUEUE JUMP

//NEW STANDING FOR SILVER//JUNE IS THUS 4.880 MILLION OZ

WE HAD:

/ SMALL SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 671 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL ADDED A 102 CONTRACTS //

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JUNE

TOTAL CONTRACTS for 4 DAYS, total 3554 contracts: OR 17.770 MILLION OZ (888 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 17.770 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: 135.995 MILLION OZ //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

JUNE 17.770 MILLION OZ

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 139 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 671 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 JUNE OF 3.830 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 65,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR JUNE 4.880 MILLION OZ

WE HAVE A STRONG SIZED GAIN OF 714 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 714 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX SESSION/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND SOME LIQUIDATION OF LONGS.

THE NEW TAS ISSUANCE WEDNESDAY NIGHT (671) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .

WE HAD 0 NOTICE(S) FILED TODAY FOR 0 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 5921 OI CONTRACTS TO 453,409 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 288 CONTRACTS

WE HAD A STRONG SIZED INCREASE IN COMEX OI (5921 CONTRACTS) OCCURRED WITH OUR GAIN OF $32.75 IN PRICE/WEDNESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JUNE AT 89.804 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 2400 OZ E.F.P. JUMP TO LONDON AS BANKERS SCOUR THE PLANET LOOKING FOR GOLD ON THE OTHER SIDE OF THE POND

NEW STANDING 89.866 TONNES// ALL OF THIS HAPPENED WITH OUR $32.75 GAIN IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 7613 OI CONTRACTS (23.61 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1295 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 453,409

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7613 CONTRACTS WITH 6209 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1295 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7613 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1295 CONTRACTS,,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1652 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI OF 5921 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 7613 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 JUNE AT 88.761 TONNES FOLLOWED BY TODAY’S EFP JUMP TO LONDON OF 0.07465 TONNES

//NEW STANDING /JUNE 89/866 TONNES.

/ 3) SME T.A.S. LIQUIDATION OF CONTRACTS WITH ZERO LONG SPECS BEING CLIPPED,

// 4) STRONG SIZED COMEX OPEN INTEREST GAIN 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1295 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 JUNE. :

TOTAL EFP CONTRACTS ISSUED: 10,955 CONTRACTS OR 1,095,500 OZ OR 34.075 TONNES IN 4 TRADING DAY(S) AND THUS AVERAGING: 2738 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 4 TRADING DAY(S) IN TONNES 34.075 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 34.075 DIVIDED BY 3550 x 100% TONNES = 0.817% 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; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// 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.

JUNE 34.075 tonnes HEADING FOR A STRONG MONTH

SPREADING OPERATIONS

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

SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF JUNE. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (APRIL), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A SMALL SIZED 139 CONTRACTS OI TO 179,959 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 575 CONTRACTS

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

JULY 575 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 575 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 139 CONTRACTS AND ADD TO THE 575 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 714 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 3.40 MILLION OZ

OCCURRED WITH OUR $0.38 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//

THURSDAY MORNING/WEDNESDAY NIGHT

SHANGHAI CLOSED DOWN 16.61 PTS OR 0.54% //Hang Seng CLOSED UP51.84 PTS OR 0.28%// Nikkei CLOSED UP 213.34 OR 0.55%//Australia’s all ordinaries CLOSED UP .65%///Chinese yuan (ONSHORE) closed DOWN TO 7,2494 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2606/ Oil UP TO 74.69 dollars per barrel for WTI and BRENT UP AT 78.93 /Stocks in Europe OPENED ALL GREEN

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 ROSE BY A STRONG SIZED 5921 CONTRACTS TO 453,409 WITH OUR HUGE GAIN IN PRICE OF $32.75 WITH RESPECT TO WEDNESDAY TRADING. WE HAD CONSIDERABLE T.A.S. LIQUIDATION ON WEDNESDAY WITH ZERO LONGS BEING CLIPPED.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS A FAIR SIZED 1295 EFP CONTRACTS WERE ISSUED: : AUGUST 1295 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 1295 CONTRACTS.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 7613 CONTRACTS IN THAT 1295 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG SIZED GAIN OF 5921 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $32.75// WEDNESDAY COMEX. AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT WAS A FAIR SIZED 1295 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 EXTREME IMPORTANCE TO OUR CROOKS IN YESTERDAY’S TRADING

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JUNE (89.866 TONNES

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 42 MONTHS OF 2021-2024:

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

2024

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 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.9325

JUNE; 89.866 TONNES. THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $32.75 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A STRONG SIZED GAIN OF 7613 CONTRACTS ON WEDNESDAY WITH OUR TWO EXCHANGES WITH THE HUGE GAIN IN PRICE. THE T.A.S. ISSUED ON WEDNESDAY NIGHT WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE GAINED A TOTAL OI OF 23.61 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JUNE (89.804 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S E.F.P JUMP TO LONDON OF 24 CONTRACTS OR 2400 OZ (0.07465 TONNES)

NEW STANDING FOR JUNE: 89.866 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR HUGE GAIN IN PRICE TO THE TUNE OF $32.75

WE HAVE REMOVED 288 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL

NET GAIN ON THE TWO EXCHANGES 7612 CONTRACTS OR 761300 (23.61 TONNES)

confirmed volume WEDNESDAY 179,328 contracts// poor and volumes have been dropping

//speculators have left the gold arena

JUNE 6 JUNE GOLD CONTRACT

/ /// THE JUNE 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	NIL oz .
Deposit to the Dealer* Inventory in oz*	0 oz
Deposits to the Customer* Inventory, in oz*	2475.627 OZ//BRINKS 77 KILOBARS
No of oz served (contracts) today	462 notice(s) 46200 OZ 1.4370 TONNES
No of oz to be served (notices)	512 contracts 51200 OZ 1.5925 TONNES
Total monthly oz gold served (contracts) so far this month	28,380 notices 2,838.000 oz 88.213 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: NIL oz

we have 1 customer deposit:

i) into Brinks 2475.627 oz 77 kilobars

total deposit nil oz

total customer withdrawals: 0

TOTAL WITHDRAWALS nil 0z

Adjustments: 1

customer to dealer Brinks 25,241.103 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JUNE

For the front month of JUNE we have an oi of 974 contracts having LOST 461 contracts. We had 437 contracts served on Wednesday so we lost a small 24 contracts or 2400 oz additional oz will not stand for gold at the comex as they were E.F.D.d. to London to take delivery on that side of the pond. as we have witnessed gold is very scarce at the comex. We saw 0 gold coming in or out at the comex despite the high 90 tonnes standing for delivery.

JULY LOST 43 CONTRACTS TO STAND AT 2022

AUGUST GAINED 5278 CONTRACTS DOWN TO 376,995 CONTRACTS

We had 462 contracts filed for today representing 46200 oz

This is a major assault on the comex for gold and this time it is physical that will be requested.

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 462 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 195 notice(s) was (were) stopped (received) by J.P.Morgan//customer account

To calculate the INITIAL total number of gold ounces standing for June /2024. contract month, we take the total number of notices filed so far for the month (28,380) x 100 oz ) to which we add the difference between the open interest for the front month of JUNE (974 CONTRACTS) minus the number of notices served upon today (462 x 100 oz per contract( equals 2,889,200 OZ OR 89.866 TONNES.

thus the INITIAL standings for gold for the JUNE contract month: No of notices filed so far (28,380 x 100 oz +we add the difference for front month of June (974 OI} minus the number of notices served upon today (462) x 100 oz which equals 2,889,200 oz (89.866 TONNES)

TOTAL COMEX GOLD STANDING FOR JUNE: 89.866 TONNES WHICH IS ABSOLUTELY HUGE FOR THIS VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. JUNE IS TRADITIONA;LLLY THE 2ND HIGHEST DELIVERY MONTH OF THE YEAR. FROM THIS POINT WE WILL GAIN IN GOLD TONNAGE WILLING TO STAND AT THE COMEX

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: 1,558,487.369 48.47 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,676,059.867 OZ

TOTAL REGISTERED GOLD 7,989,995 ( 242.58 tonnes).

TOTAL OF ALL ELIGIBLE GOLD: 9,686,064.918 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,431,508 oz (REG GOLD- PLEDGED GOLD)= 200.04 tonnes //

END

SILVER/COMEX

JUN 6/2024

INITIAL

//2024// THE JUNE 2024 SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	1,579,765.099 oz delaware HSBC Loomis .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	302,312.360 oz brinks
No of oz served today (contracts)	0 CONTRACT(S) (nil OZ)
No of oz to be served (notices)	71 contracts (0.355 million oz)
Total monthly oz silver served (contracts)	905 Contracts (4.525 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 0 deposits customer account:

total customer deposit nil oz

JPMorgan has a total silver weight: 128.997million oz/296.208 million or 43.58%

adjustment: 0//

Comex withdrawals: 3

i) out of Loomis 178,,960.700 oz

ii) out of Delaware: 592,953.394 oz

iii) Out of HSBC 607,851.000 oz

total withdrawal: 1,579,765/094 0z

TOTAL REGISTERED SILVER: 62.494MILLION OZ//.TOTAL REG + ELIGIBLE. 296.208

million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE:

silver open interest data:

FRONT MONTH OF JUNE/2024 OI: 71 CONTRACTS HAVING LOST 17 CONTRACT(S).

WE HAD 30 NOTICES SERVED UP ON WEDNESDAY, SO WE GAINED 13 CONTRACTS OR AN ADDITIONAL 65,000 OZ WILL STAND AT THE COMEX VIA A QUEUE JUMP

JULY SAW A LOSS OF 2010 CONTRACTS DOWN TO 128,479

AUG, SAW A GAIN OF 33 CONTRACTS TO 100

SEPT SAW A GAIN OF 1841 CONTRACTS TO 35,454.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for 0 oz

CONFIRMED volume; ON WEDNESDAY 78,024 huge

To calculate the number of silver ounces that will stand for delivery in JUNE we take the total number of notices filed for the month so far at 905 x 5,000 oz = 4.525 MILLION oz

to which we add the difference between the open interest for the front month of JUNE ((71) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JUNE/2024 contract month: 905 notices served so far) x 5000 oz + OI for the front month of JUNE (71)x number of notices served upon today minus (0)x 5000 oz of silver standing for the JUNE contract month equates to 4.880 MILLION OZ.

New total standing: 4.880 million oz.

There are 62.494 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!

JUNE 6 WITH GOLD UP $16.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 1.34 TONNES OF GOLD INTO THE GLD//: / //NEW TOTAL TONIGHT 833.55 TONNES

JUNE 5 WITH GOLD UP $32.75 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

JUNE 4 WITH GOLD DOWN $20.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

JUNE 3 WITH GOLD UP $22.85 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

MAY 31 WITH GOLD DOWN $19.40 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

MAY 30 WITH GOLD UP $3.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

MAY 29 WITH GOLD DOWN $13.55 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD: / //NEW TOTAL TONIGHT 832.21 TONNES

MAY 28 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

GLD INVENTORY: 833.55 TONNES, TONIGHTS TOTAL

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

JUNE 6 WITH SILVER UP $1.27 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 2.649 MILLION OZ INTO THE SLV// INVENTORY INCREASES TO 417.944 MILLION OZ

JUNE 5 WITH SILVER UP 0.38 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 1.52 MILLION OZ INTO THE SLV// INVENTORY INCREASES TO 415.295 MILLION OZ

JUNE 4 WITH SILVER DOWN $1.08 TODAY: NO CHANGES IN SILVER INVENTORY: //INVENTORY REMAINS AT 413.775 MILLION OZ

JUNE 3 WITH SILVER UP $0.35 TODAY: NO CHANGES IN SILVER INVENTORY: //INVENTORY REMAINS AT 413.775 MILLION OZ

MAY 31 WITH SILVER DOWN $1.09 TODAY: HUGE CHANGES IN SILVER INVENTORY: A MASSIVE WITHDRAWAL OF 3.655 MILLION OZ FROM THE SLV//INVENTORY LOWERS TO 413.775 MILLION OZ

MAY 30 WITH SILVER DOWN $0.80 TODAY: NO CHANGES IN SILVER INVENTORY//INVENTORY REMAINS AT 417.430 MILLION OZ

MAY 29 WITH SILVER UP $0.20 TODAY: HUGE CHANGES IN SILVER INVENTORY AT THE SLV// A HUGE WITHDRAWAL OF 1.051 MILLION OZ INTO THE SLV//INVENTORY DECREASES TO 417.430 MILLION OZ

MAY 28 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 418.481 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 NVENTORY 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

CLOSING INVENTORY 417.944 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY

2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/GOLD AND SILVER COMMENTARY

ALASDAIR MACLEOD…

An interim BRICS+ trading currency arrangement

BRICS and the SCO have agreed to replace dollars with national currencies for trade settlement. This article shows how it is leading to the renminbi becoming the reserve currency for members.

MACLEODFINANCEJUN 6∙PAID

READ IN APP

The background

There is little doubt in both Russian and Chinese government circles that the dollar is not only declining but could now face an existential crisis. The decline is coming about fuelled by China and Russia progressing with plans to reduce the use of the dollar, not just between themselves but throughout their spheres of influence. Courtesy of the USA, it is no longer being used between China and Russia, a move which has focused minds elsewhere about the US’s weaponisation of its currency.

The weaponisation of the dollar has removed any complacency in China’s approach to the dollar problem. She is now in no doubt that the dollar must be removed from her trading interests as much as possible and as a matter of urgency. This is behind the PBOC’s selling of dollars for gold. The PBOC knows that by dumping dollars, she threatens the entire western fiat currency system. But with the US becoming increasingly belligerent towards China they also know that there is little alternative.

Furthermore, after a prolonged period of heavily suppressed US interest rates and budget deficits running out of control, the US’s debt trap driving is bond yields higher and threatens to collapse the entire dollar-based credit system. Managing the fallout must be the hottest of topics between China and Russia, and the future for trade settlements between the Shanghai Cooperation Organisation and BRICS+. Along with these two organisations, both Asian hegemons also know that they must make themselves independent of the dollar for fear of being caught in its downdraft.

China and Russia have already made significant progress in this direction, having put their own intra-national trade on a rouble-yuan basis, with China acting as a conduit for Russia’s exports to other importers as well. As long ago as 2015, China launched her Shanghai-based CIPS (cross-border payments system), allowing banks to clear cross-border renminbi transactions onshore, instead of offshore settlements using SWIFT or New York clearing. Besides trading in gold and silver futures on the international section of the SGE, China has also established trading platforms pricing in renminbi for other key commodities: oil and copper futures in Shanghai, and on the Ganzhou Rare Metal Exchange spot prices for cobalt, tungsten, and a number of rare earth metals.

But what interests us here is not so much commodity pricing but cross border trading settlements between China, Russia, other members of the SCO, BRICS+, and any other trading partners in the expanding “global south”. The solution proposed by Russia last year was to establish a gold-backed trade settlement currency which failed to make the Johannesburg agenda last August. India’s Keynesian leadership didn’t like it, and China was cautious, preferring not to rock the dollar boat. However, India is now accumulating gold and has sought the repatriation of 100 tonnes from the Bank of England, indicating that she now accepts that gold is the final solution, and that it may not be long in coming.

Other Asian central banks are similarly beefing up their gold reserves, as are the East Europeans, particularly Poland. The signal emanating from well-informed Singapore’s aggressive accumulation is important confirmation. The common story is that China and Russia are prepared to move to a gold standard, when circumstances dictate. We know that Russia has substantial reserves, perhaps as much as 12,000 tonnes including holdings in two sovereign wealth funds and she is beefing up her mine output. China has been secretly accumulating gold off-balance sheet since 1983, became the largest gold mining nation by output over a decade ago, and she is like a Hotel California with respect to bullion imports from other nations. I believe various Chinese state accounts now hold a hidden total of over 30,000 tonnes. And we know that deliveries from the Shanghai Gold Exchange to the general public already total nearly 26,000 tonnes, not to mention the significant holdings by commercial banks on behalf of customer gold accounts retained within the SGE’s vaulting system.

Clearly, China has expected and planned for the end of the dollar as a reserve currency for a considerable time, and it is therefore imperative that her international trade be made independent of its collapse. Eventually, only gold backing for SCO and BRICS+ currencies will replace the dollar, because the death of the dollar will mean the end of the entire western fiat currency system, which is why every country in Asia is ensuring they have gold reserves. But until that time there must be interim arrangements.

The SCO and BRICS have agreed to accept each other’s currencies in trade settlement. On the face of it, it exposes nations with strong currencies to payment risk in weak currencies. China deals with the problem by trying to ensure that net exposure is minimised by balancing imports with her exports plus capital investment. But this cannot work for everyone, particularly oil exporters to other SCO/BRICS members.

There are three solutions to the problem. The first is for an exporter to accept a non-dollar foreign currency in trade settlement. This is already the case with respect to oil exports from the Saudis to China, replacing petrodollars with petroyuan. The second is to accept a generally unmarketable currency, such as Kenya shillings, with a guaranteed swap rate locking into today’s exchange rate until the currency can be disposed and the difference settled between nations. But this requires faith in an issuing central bank to discharge future obligations and has limited practicality. The third solution is to use a third party’s currency as replacement for the dollar in this role: it can only be China’s renminbi, with the rouble perhaps in the Eurasian Economic Area.

The use of renminbi for trade settlements is bound to spread, because with China’s CIPS system at their heart the only use the dollar will have is for the pricing and acquisition of commodities and raw materials sourced globally. Perhaps more quickly than generally realised we will see the renminbi becoming the reserve currency for rapidly industrialising nations with most of the world’s population.

With foreigners holding dollars and financial assets currently estimated by the US Treasury to be over $32 trillion, a significant portion is held by China and together with Russia and their trade linked counterparties. China has already started to liquidate her dollars, and we can be certain that others will follow. The timing of dollar repatriation could not come at a worse time for the US, because she has become heavily reliant on foreign demand for dollars and their investment in US Treasuries. This source of credit is turning from being dollar buyers to sellers.

At the same time, US Government budget deficits continue to increase, partly fuelled by politicians seemingly unaware of their debt trap, and also by higher debt funding costs, which are being compounded into yet more debt. Consequently, with budget deficits still rising, the dollar’s purchasing power continues to be diluted, which will drive consumer price inflation and therefore bond yields into a new rising trend. It is the unhappy combination of these events which is set to collapse the dollar along with the western currencies associated with it.

While domestic Americans may have difficulty seeing this logic, we can be sure that China, Russia, and their trade cohorts are fully aware of the consequences. The problem for China is twofold: to be fully prepared for the end of the dollar, and to not be associated with the dollar’s destruction. This destruction is unlikely to be reflected in its exchange rate with other currencies, but in commodity, food, and raw material values, broadly represented by gold.

As noted above, China and Russia have substantial undeclared gold stocks which in the future will be the basis for renminbi and roubles issued to acquire all materials. It will require both the renminbi and the rouble to be valued as gold substitutes, not as fiat currencies likely to sink with the dollar. It is becoming clear that the renminbi will be the reserve currency replacement for nations representing the large majority of the world’s population, and that as a second step its value will be secured by a credible link with gold, making it a gold substitute.

That the pace of this evolution is hotting up can be judged by the speed of the PBOC’s selling of US Treasuries, and that China is stockpiling copper in quantities which appear to be greater than her prospective consumption. Furthermore, the dollar’s future, and euro’s as well, depends in large measure on events in Ukraine. NATO is escalating tensions threatening to become more directly involved. This attack on Asian territory could force Russia to declare a gold standard for the rouble, not just to protect it but to undermine the fiat currency-based credit structure upon which the western belligerents depend.

If Russia does take this step, we can be sure that it will be in consultation with China and that China will rapidly follow, putting the renminbi on a gold standard as well. As they say in chess, we are now in the endgame for the dollar-based financial system and checkmate will come in just a few moves.

END

3. CHRIS POWELL//GATA DISPATCHES

CHRIS POWELL…

LBMA reviews gold purity concerns about Indonesian state miner

By Swati Verma and Fransiska Nangoy
Reuters
Thursday, June 6, 2024

The London Bullion Market Association said it is reviewing allegations involving Indonesian state miner Aneka Tambang over the purity of its gold products.

Indonesia’s attorney general’s office has named six former general managers at Antam’s precious metal processing and refining business unit as suspects for alleged misuse of Antam’s stamping service.nvestigators said over the period of 2010-2021, the suspects oversaw production of around 109 tons of gold through the alleged illegal practice.

The investigators did not disclose from where the gold originated from or where it was distributed after stamping. …

… For the remainder of the report:

https://www.reuters.com/markets/commodities/london-gold-body-reviews-purity-concerns-about-indonesian-state-miner-2024-06-06/

* * *

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS/

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

END

ASIA TRADING//THURSDAY MORNING/WEDNESDAY NIGHT

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 THURSDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED DOWN TO 7.2494

OFFSHORE YUAN: DOWN TO 7.2609

SHANGHAI CLOSED DOWN 16.61 PTS OR 0.54 %

HANG SENG CLOSED DOWN 51.84 PTS OR 0.28%

2. Nikkei closed UP 213.34 PTS OR 0.55 %

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX UP TO 104.30 EURO FALLS TO 1.0867 DOWN 7 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.960 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156.15 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 UP for WTI and UP FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.5340/Italian 10 Yr bond yield UP to 3.831 SPAIN 10 YR BOND YIELD TO 3.251%

3i Greek 10 year bond yield DOWN TO 3.540

3j Gold at $2360.15//Silver at: 30.30 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 18/ 100 roubles/dollar; ROUBLE AT 88.92

3m oil into the 74 dollar handle for WTI and 78 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 156.15/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.960% 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 0.8913 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9680 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: 4.300 UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.456 UP 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.737 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 32.25…

10 YR UK BOND YIELD: 4.181 DOWN 6 PTS

2a New York OPENING REPORT

Futures Flat As Tech Storms Higher, ECB Rate Cut Looms

THURSDAY, JUN 06, 2024 – 08:03 AM

US equity futures were flat after the S&P 500 notched its 25th closing record on Wednesday, even as global tech shares plowed higher with expectations of more rate cuts adding to the ongoing frenzy around artificial intelligence; With the ECB set to cut rates for the first time since 2019, Nvidia advanced almost 2% in premarket trading, building on its $3 trillion market capitalization after it surpassed AAPL as the 2nd biggest company on Wednesday and may become the world’s biggest company if it adds another $150BN to overtake Microsoft – should be quite doable for a stock that has seen the world’s biggest gamma squeeze.

The world’s biggest company (because NVDA will surpass MSFT tomorrow) is getting gamma squeezed

4:14 PM · Jun 5, 2024

86K Views

The world's biggest company (because NVDA will surpass MSFT tomorrow) is getting gamma squeezed pic.twitter.com/b7PltycG2j
— zerohedge (@zerohedge) June 5, 2024

As of 7:45am ET, S&P futures were flat at 5,367 and Nasdaq futures rose 0.1%, as investors take a pause following yesterday’s session which saw the SPX have its best session in a month and NDX having its best session since Feb 22. Both indexes traded at all time highs. European stocks also surged to a new all-time high ahead of an ECB meeting that is expected to deliver the first rate cut in five years. Bond yields are +1 – 2 bps with the USD also rising after erasing an earlier loss. Commodities are seeing support, led by Ags and Energy; as base metals continue to underperform. Today’s macro data focus is on jobless claims but unlikely to see this being an investable data point ahead of tomorrow’s NFP print

In premarket trading, Nvidia gained 2% after soaring yesterday amid an endless gamma squeeze that has added several hundred billion in market cap in the last week alone, and which saw the company surpass Apple as the 2nd largest company in the world; Nvidia now just needs another $150BN to overtake MSFT as the world’s biggest company.

In premarket trading, other US tech firms, including Micron and AMD also rose in premarket trading, while in Europe, ASML Holding NV and ASM International NV surged to record peaks. As an aside, Microsoft, Nvidia and Apple are now worth more combined than China’s stock market. Among individual stock movers outside of technology, Lululemon rose more than 7% in US premarket trade after posting forecast-beating earnings and raising its profit outlook. Here are some other notable premarket movers:

EBay shares rise 0.9% in premarket trade after the e-commerce company was upgraded to buy from neutral at Citi, which renewed their rating after a period of suspending it.
Lululemon shares jump 8% after the athletic clothing company boosted its earnings-per-share guidance for the year and reported first-quarter profit that topped expectations. The board also approved a $1 billion increase to the stock repurchase program. While the results were better than feared, Morgan Stanley didn’t view the report as sufficient to “debunk” a bear thesis on the stock.
Semtech shares are up 8.1% after the semiconductor device company reported first-quarter results that beat expectations. AI is expected to be a growth driver going forward.
Smartsheet shares are up as much as 15% after the application software company raised its full-year forecast and reported first-quarter results that beat expectations.
Sprinklr shares are down 22% after the social media management software company cut its full-year forecast for both revenue and subscription revenue. Multiple analysts downgraded the stock.
StoneCo gains 2.5% following an upgrade to overweight from neutral by JPMorgan, which says the Brazilian payments company offers “appealing” EPS potential.
ZIM Integrated Shipping Services shares fall 8% after the stock is downgraded to sell from neutral at Citi following recent rally in its shares and greater exposure to spot freight rates, which analysts expect to come under pressure.

“There is a reason tech companies are doing so well; the earnings are there, companies have been delivering on earnings,” said Guy Miller, chief strategist at Zurich Insurance Company Ltd. “Nvidia is a classic example. It seems extremely expensive but goes on not only meeting, but beating expectations.”

The latest tech euphoria coincides with growing confidence among investors that central banks across the developed world will be able to ease monetary policy this year. The ECB should deliver a 25 basis-point cut on Thursday, a day after the Bank of Canada kicked off its cutting cycle and hinted at more easing to come (see our ECB preview here). Traders have also started to price more Federal Reserve easing this year.

“With the Bank of Canada cutting rates and the expectation ECB will do so, momentum behind a coordinated global easing cycle is starting to gain some traction,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management.

European stocks rally to a record high ahead of the European Central Bank’s widely-expected first interest-rate cut this cycle. Tech shares are leading gains on the Stoxx 600 which climbs 0.6%; other outperforming sectors include consumer discretionary, financials and health care while utilities and personal care stocks are the biggest laggards. Private bank Julius Baer Group Ltd shed as much as 5.9% on speculation that it could take over rival EFG International AG. Shares in the latter spiked as much as 10%. Here are the biggest movers:

SAP shares rise as much as 4.9% after the German software firm maintained its near-term outlook while guiding for an acceleration in revenue growth beyond 2025
Remy Cointreau advances as much as 4.6%, with analysts relieved that the cognac maker’s current operating income beat expectations and Jefferies noting that there was “arguably a lot of bad news in the share price” given the weakness into the update
Nemetschek shares gain as much as 7.6% after the the software firm said it has signed a definitive agreement to acquire all shares in GoCanvas
Getlink rally as much as 3.5% after Barclays upgrades to overweight from equal-weight, saying in note the Eurotunnel operator offers some of the strongest recovery potential within the infrastructure sector
Wood Group shares jump as much as 11% after its board decided to engage with Sidara to determine if a firm offer can be made on the same financial terms as its 230p-per-share final proposal
Mitie Group shares climb as much as 3.5% after the support services company delivered annual results ahead of expectations. Peel Hunt says the ongoing improvement in margins may help drive a re-rating
Euroapi shares rise as much as 9.7% to hit their highest level in three months after the maker of pharmaceutical ingredients was confirmed as one of a group of companies eligible to share a pot of up to €1 billion in funding from the European Commission
Ahold shares fall as much as 3.5% after UBS downgraded the Dutch retail store operator to sell from neutral on margin risks, while KBC analysts flag that the firm’s growth ambitions could temporarily put pressure on its margins
JSW drops as much as 5.5% to 3.5-year low after Erste cut the stock to sell from hold, citing an unfavorable market for the Polish coking-coal maker amid labor-union pressure and high mining costs

Bond yields across Europe ticked higher ahead of the ECB meeting, as traders waited to see if ECB head Lagarde might offer more guidance on the path for additional easing. Wagers on further ECB cuts have turned more cautious in the wake of data showing stronger-than-anticipated economic growth, inflation and wage increases.

Earlier in the session, Asian stocks advanced, as technology shares drove broad regional gains after Nvidia led a rally in US peers overnight on hopes for US rate cuts and a continued boom in artificial intelligence. The MSCI Asia Pacific Index rose as much as 1.4% to its highest since May 28, snapping a two-day losing streak. Chipmaker TSMC was the biggest boost, climbing to a record high as its share buyback plan added to positive sentiment amid the tech rally. The lack of a material rise in tech volatility suggests the AI rally has not reached a bubble yet, BofA Securities analysts led by Benjamin Bowler wrote in a note. “The question is can we incorporate AI into the economy without an asset bubble ensuing? It may be hard to avoid given the likely significant but unclear way in which AI will impact the global economy.”

In FX, the euro is little changed ahead of the ECB rate cut, while the Bloomberg Dollar Spot Index steadied. The Swiss franc led Group-of-10 gains against the greenback, while the New Zealand dollar led losses

EUR/USD rose as much as 0.3% before paring the gain to trade 0.1% up at 1.0877; Traders expect a quarter-point interest rate cut from the ECB today and options markets suggest a big reactionary move in the euro is unlikely
USD/JPY reversed an earlier 0.5% decline to trade little changed at 156.05; BOJ board member Toyoaki Nakamura said it’s appropriate to maintain current monetary policy settings for the time being given recent economic data

In rates, treasuries dip, paring some of the prior five-day rally. Bunds are also in the red while gilts outperform across the curve. Treasuries were slightly cheaper across the curve with futures just below Wednesday’s highs, following similar price action in bunds ahead of European Central Bank meeting at 8:15am New York time, expected to deliver the first rate cut since 2019. US yields cheaper by 1bp-2bp across the curve with long-end lagging, leaving 5s30s spread near session highs; 10-year around 4.31% underperforms gilts by ~5bp in the sector. UK 2-year yields are richer by around 6bp on the day and lowest since May 21. Gilts outperform in sharp bull-steepening move as traders price in more aggressive path of Bank of England rate cuts.

Prices for key commodities edged higher, with oil gaining for a second session after the OPEC+ group rejected increasing crude output. WTI rises 0.2% to near $74.20. Industrial metals rallied after Wednesday’s slide, while palm oil steadied from a one-week low. Spot gold rises roughly $4 to ~$2,359/oz.

Looking at today’s calendar, US economic data includes May Challenger job cuts (7:30am), 1Q final nonfarm productivity, April trade balance and weekly jobless claims (8:30am). Fed officials remain in a quiet period ahead of their June 12 policy announcement. As noted above, we get the first ECB rate cut since 2019.

Market Snapshot

S&P 500 futures little changed at 5,368.00
STOXX Europe 600 up 0.8% to 525.16
MXAP up 0.8% to 180.01
MXAPJ up 1.0% to 561.67
Nikkei up 0.6% to 38,703.51
Topix up 0.3% to 2,757.23
Hang Seng Index up 0.3% to 18,476.80
Shanghai Composite down 0.5% to 3,048.79
Sensex up 0.7% to 74,929.61
Australia S&P/ASX 200 up 0.7% to 7,821.77
Kospi up 1.0% to 2,689.50
German 10Y yield little changed at 2.53%
Euro little changed at $1.0875
Brent Futures up 0.6% to $78.91/bbl
Gold spot up 0.3% to $2,361.45
US Dollar Index little changed at 104.30

Top Overnight News

Chinese battery firms which are linked with the likes of Ford (F) and Volkswagen (VOW3 GY) should be banned from shipping to the US, via WSJ citing a Republican lawmaker group
Mexico Health Ministry said a fatal case of bird flu was detected in a man in Mexico state with chronic kidney disease, type 2 diabetes; bird flu detected in humans in Mexico does not represent a risk to the population. So far no evidence of person-to-person transmission, according to Reuters.
Taiwan’s core CPI comes in at +1.84% in May, a bit below the Street’s +2% forecast, while headline climbs to +2.24% (higher than the consensus estimate of +2.1%). BBG
BOJ Governor Kazuo Ueda said the central bank should reduce its huge bond purchases as it moves toward an exit from massive monetary stimulus, reinforcing his resolve to steadily scale back its nearly $5-trillion balance sheet. The remarks keep alive expectations the central bank could embark on a full-fledged tapering of its bond buying as early as its policy meeting next week. RTRS
The ECB is poised to start lowering interest rates from record highs with a 25-bp cut today. But the real question is where rates go after that. Christine Lagarde probably won’t explicitly signal another move in July at her press conference, but may give a gentle nod to September. BBG
Israel risks losing coal supplies from its biggest supplier, Colombia. The trade ministry recommended a limit on shipments with the aim of helping to “end the armed conflict.” Separately, the Israeli military said it struck a Hamas compound embedded in a Gaza school. Hamas said at least 27 people were killed. BBG
OPEC+ ministers rejected oil’s bearish reaction to its decision to gradually boost crude production from October and predicted the market will eventually see that the group’s policy is correct. The alliance remains committed to the stability of the oil market and can react quickly to any changes, ministers from the group’s largest producers said at the St Petersburg International Economic Forum in Russia on Thursday. BBG
Biden sees a small political benefit in the wake of Trump’s guilty conviction (an updated NYT poll had Trump up 1 point vs. +3 prior to the decision). NYT
Trump’s VP search is “heavily concentrated on four top prospects”: Gov. Burgum, Sen. Rubio, Sen. Scott, and Sen. Vance. NBC News
AI industry faces growing antitrust scrutiny: the FTC and DOJ have agreed to divide responsibilities for examining AI-related matters, the FTC has opened a probe into the Microsoft-Inflection deal, and the DOJ plans to take a closer look at sector practices. FT

AAPL: the WSJ has a long profile article detailing how the firm fell behind in AI, and detailing the revamped Siri set to be unveiled Monday. WSJ

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mostly firmer as the region largely took its cue from the positive lead on Wall Street, while South Korean markets were closed due to the Memorial Day holiday. ASX 200 saw its upside spearheaded by gold and IT with all sectors in the green but Consumer Staples and Telecoms with the shallowest gains. Nikkei 225 surged at the open and briefly rose above USD 39,000 as industrials and Tech led the gains whilst autos saw another dire session amid the ongoing safety scandal. The index waned off best levels heading into the Tokyo lunch break. Hang Seng and Shanghai Comp varied for most of the session with the former conforming to the positive mood across the region whilst the latter saw subdued and contained trade within a tight range, with news flow on the quieter side ahead of the upcoming risk events.

Top Asian News

BoJ Governor Ueda said inflation expectations gradually rising but yet to reach 2%; Inflation expectations must accelerate to 2% and stay there, for actual inflation to move around 2%; proceeding cautiously on interest rates, according to Reuters and Bloomberg.
BoJ Board Member Nakamura stated that Japan’s economy is recovering moderately, albeit showing some weak signs; Based on current data, it is appropriate to keep policy intact for the time being, according to Reuters. “My view is that inflation may not reach 2% from fiscal 2025 onward if consumption weakens.” He said they will focus on whether inflation-adjusted consumption turns positive in deciding future monetary policy, and said the pass-through of wages to inflation remains weak but he is closely monitoring the situation. Nakamura is not confident that wage growth will be sustained and said a cycle of rising prices and wages is beginning to kick off.
Japan to raise the cap on state backing for copper mine stakes to 75%, according to Reuters.
China Securities Journal noted “Experts said that entering June, it is unlikely that the capital will be significantly tightened, and the central bank will continue to reasonably… to maintain reasonable and abundant liquidity”.
PBoC injected CNY 2bln via 7-day reverse repos with the rate at 1.80%.
US Commerce Secretary Raimondo said Global Infrastructure Partners, KKR, and Indo-Pacific Partners are forming a coalition to fund infrastructure projects; to invest USD 25bln, according to Reuters.
UMC (2303 TT) May Sales +3.89% Y/Y vs. +6.9% Y/Y in April

European bourses, Stoxx 600 (+0.6%) began the session on a strong footing, taking impetus from a positive APAC session. As the morning progressed, stocks continued to climb higher, and currently reside just off session highs. European sectors hold a strong positive bias; Tech is the clear outperformer, building on the prior day’s advances, with sentiment also lifted after Nvidia’s market cap surpassed USD 3tln. Optimised Personal Care is found at the foot of the pile. US Equity Futures (ES U/C, NQ U/C%, RTY -0.4%) are mixed, taking a breather from recent strength in the last trading session; the RTY underperforms.

Top European News

BoE Monthly Decision Maker Panel: 1-year ahead CPI inflation expectations remained unchanged at 2.9% in May. 3-year ahead CPI inflation expectations remained unchanged at 2.6% in May. Expected year-ahead wage growth fell by 0.3ppts to 4.5% on a three-month moving-average basis in May.
ISTAT lifts Italy’s 2024 GDP growth forecast to 1.0% (prev. 0.7%)

USD is showing varying performance vs. peers which has left the DXY flat. For now, DXY is capped by the 200 and 100DMAs at 104.40 and 104.42 respectively.
EUR is modestly firmer vs. the USD on ECB day which is set to see the ECB deliver its first rate cut since September 2019. With a cut so widely expected, focus will be on any hints over what comes next. For reference, the next 25bps cut is priced by October with 63bps of cuts seen by year-end. EUR/USD currently within a busy 1.0869-1.0895.
Cable briefly sat on a 1.28 handle overnight, though has since slipped lower and currently holds around 1.2785; UK-specific newsflow has been light today.
JPY is losing marginal ground vs. the USD following cautious comments from officials overnight. USD/JPY is attempting to close the gap on Monday and Tuesday’s risk-induced selling which took the pair from circa 157.47 to a weekly low of 154.52.
Antipodeans are both a touch softer vs. the USD with AUD/USD continuing to pivot around the 0.6650 mark having been stuck on a 0.66 handle throughout the week.
PBoC set USD/CNY mid-point at 7.1108 vs exp. 7.2436 (prev. 7.1097)

Fixed Income

USTs are consolidating between five and ten ticks from Wednesday’s 110-12+ WTD peak. Specifics light thus far with the macro focus firmly on the ECB, with US Challenger Layoffs and Initial Jobless Claims also on the docket.
Bunds are a slightly softer and was unreactive to the miss in German Industrial Orders; Supply from Spain passed with no issue while the chunky French tap sparked some choppiness and an incremental new low for Bunds at 131.15.
Gilt price action is in-fitting with EGBs. However, the BoE DMP sparked a turnaround in fortunes for the UK benchmark lifting it by around 20 ticks to a 97.72 peak, driven by the moderation in wage growth expectations within the survey.
Spain sells EUR 5.865bln vs exp. EUR 5-6bln 2.50% 2027, 0.10% 2031, 4.00% 2054 Bono & EUR 0.51bln vs exp. EUR 0.25-0.75bln 2.05% 2039 I/L.
France sells EUR 12bln vs exp. EUR 10.5-12bln 3.00% 2034, 1.25% 2038, 3.25% 2055 OAT

Commodities

Crude benchmarks were grinding higher throughout the European morning, though the upside has since dissipated (now flat), despite a lack of clear catalysts. Brent holding around USD 78.50/bbl.
Precious metals are contained after the strength seen in the prior session. Rangebound action which currently sees XAU hold around the lower-end of USD 2354-2374/oz bounds.
Base metals are firmer and continuing the turnaround in fortunes for the likes of copper that occurred yesterday alongside the broader risk-on trade.
OPEC SecGen says demand for oil is still good, fundamentals drove their decisions. Adds, as travel is picking up, demand for oil should be strong.
Qatar has set July Marine crude OSP at Oman/Dubai plus USD +1.10bbl; land crude OSP at Oman/Dubai plus USD +0.35bbl, according to a pricing document.
Goldman Sachs says US retail gasoline prices in October could rise to nearly USD 4/gal if the hurricane season is extreme and positioning normalises.
Canada Energy Regulator said it is updating an order that will allow Nova Gas to temporarily increase operating pressure by 5% in a section of the Grande Prairie mainline.
JP Morgan price outlook calls for Brent to average USD 75/bbl in 2025; sharply down from UD 83/bbl in 2024, with prices exiting the year at USD 64/bbl

Geopolitics: Middle-East

Israel’s cabinet has cancelled their planned meetings amid reports that Hamas has rejected the truce proposal, according to Israeli media cited by journalist Elster
Heavy Israeli bombardment of South Lebanon was reported, according to Al Monitor Senior Correspondent Karam.

Geopolitics: Russia-Ukraine

Russian President Putin said he has no intention to attack NATO, according to Reuters.
US officials have notified relevant Congressional committees about expected Russian activity, according to a senior US official cited by Reuters. The temporary Russian deployment is likely to include combat vessels but is not seen by the US as a threatening move. The US is expecting Russian naval and air exercises in the Caribbean this summer with port calls likely in Cuba and possibly Venezuela.

Geopolitics: China-Taiwan

US State Department has approved the possible sale of F-16 parts to Taiwan for USD 80mln, according to the Pentagon
Taiwan Defence Ministry said in the past 24 hours, 1 Chinese Air Force plane was detected operating around Taiwan.

Geopolitics: Other

White House said Indian PM Modi and US President Biden discussed National Security Adviser Sullivan’s upcoming travel to New Delhi, according to Reuters.

US Event Calendar

07:30: May Challenger Job Cuts YoY -20.3%, prior -3.3%
08:30: 1Q Nonfarm Productivity, est. 0%, prior 0.3%
08:30: 1Q Unit Labor Costs, est. 4.9%, prior 4.7%
08:30: June Initial Jobless Claims, est. 220,000, prior 219,000
08:30: May Continuing Claims, est. 1.79m, prior 1.79m
08:30: April Trade Balance, est. -$76.5b, prior -$69.4b

DB’s Jim Reid concludes the overnight wrap

Today is a first for me. I’m taking part in a ribbon cutting ceremony. No not for a new supermarket but for Deutsche Bank’s wonderful new building at Moorfields in the City, here in London. The ceremony is full of dignitaries from the City, politics, the world of finance and the Lord Mayor of London. One fact to blow your mind is that the new building contains twice the amount of steel as the Eiffel Tower and yet has won many sustainability accolades. I would be confident of saying that our buildings in NY and London are now two of the nicest work buildings I’ve ever been in, and I get to go in many around the world. For balance I should probably say that this statement would certainly have not applied to our old buildings!

The ribbon was also cut for a brand new all time high in the S&P 500 (+1.18%) last night, the 25th so far this year. The last week has seen the index at the bottom and now the top of the (relatively narrow) one-month range. The advance yesterday came as good economic news was seen as good news for markets again, while renewed tech optimism saw Nvidia (+5.16%) become the third company to reach a $3trn market cap. So normal service for 2024 has returned.

Yesterday’s advance was initially supported by the US ISM services for May, which surprised on the upside at 53.8 (vs 51.0 expected). That was significant as the previous month had seen the index fall to a contractionary 49.4, so the bounceback suggests that was just a blip rather than the start of a more concerning trend. This reading was also the index’s highest level since last August, and the largest monthly increase since January 2023. That said, a few of the details weren’t quite as strong. For example, the employment component was still in contractionary territory at 47.1 in May (vs 47.2 expected), and therefore in line with the wider narrative of a slackening labour market. The prices paid index fell back from 59.2 to 58.1 (vs 59.0 expected), as inflationary pressures came off a tad. Supporting the employment story, the ADP payroll numbers for May also undershot expectations, rising +152k (vs +175k expected), which is its slowest pace since the start of the year.

These softer elements meant investors priced in more rate cuts for a sixth day in a row. For instance, the amount priced in by the Fed’s December meeting was up +4.7bps to 50bps. In turn, 2yr yields ended the day down -4.8bps to 4.72%, whilst 10yr Treasury yields saw their fifth decline in a row, down -5.1bps to 4.28%, their lowest since March. That move has stabilized overnight however, with 10yr yields (+1.9bps) back up to 4.29% as we go to print.

The rates rally and the upside data surprise supported the rally in equities, but it was tech optimism that was the largest driver. There were a few triggers for this, including the news that semiconductor equipment manufacturer ASML will ship its most advanced chipmaking machine to TSMC this year. ASML’s stock gained +8.10% yesterday, surpassing luxury company LVMH as the second largest company in Europe. This backdrop saw the NASDAQ (+1.96%) and Magnificent Seven (+2.24%) post new record highs. Nvidia spearheaded this rally, as the AI and semiconductor heavyweight (+5.16%) moved above $3trn market cap and overtook Apple as the second most valuable company in the world (even as the latter posted an eighth consecutive advance).

The tech advance helped the S&P 500 index (+1.18%) post its fourth consecutive gain, and its largest in over a month. But the rally was not confined to tech, and the Russell 2000 index of small caps was up +1.47%. This risk-on sentiment spread to global equities more broadly. In Europe the STOXX 600 jumped +0.81%, while the MSCI EM index gained +1.03%. Notably, Mexican equities recovered by +1.73%, following on from the +3.24% gain on Tuesday. So they’ve now recovered three-quarters of the -6.11% fall seen on Monday after the landslide victory in Sunday’s election for Claudia Sheinbaum of the ruling left-wing party.

Looking forward to today, all eyes will be on Europe with the ECB rate decision out later. This is a significant one, as it’s widely expected that the ECB will cut rates for the first time this cycle, and our European economists are looking for a 25bps cut in the deposit rate to 3.75%. See their full preview here. As we go to press, overnight index swaps are now fully pricing in a cut today, so the bigger question will be what the ECB signals moving forward, and how quickly future cuts might happen. For now at least, investors don’t think the cuts will happen every meeting, as there’s currently only 62bps of cuts priced by the December meeting (which encompasses 5 meetings including today). So if that market pricing is realized, that would be equivalent to between two and three 25bp cuts at the remaining five meetings. 10yr German bund yields traded down ahead of the meeting, falling -2.2bps, while OATs (-2.7bps) and BTPs (-4.8bps) outperformed.

When it comes to central bank rate cuts, there was another milestone yesterday after the Bank of Canada became the first G7 country to cut rates this cycle. They cut their interest rate by 25bps to 4.75% as expected, and there was a dovish tone from Governor Macklem, who explicitly mentioned additional cuts, saying it was “reasonable to expect further cuts” if inflation continued to ease. Macklem also mentioned the Bank of Canada does not “need to move in lockstep with the Federal Reserve”, although “there are limits to divergence”. So several central banks aren’t hesitating to begin rate cuts even as the Fed elects to hold its rate steady for now. Markets are currently pricing a further 55bps of cuts by the BoC this year.

This morning in Asia, the optimistic mood for global markets has continued, with gains across the major equity indices. That includes advances for the Hang Seng (+0.59%) the Nikkei (+0.58%), and the CSI 300 (+0.37%), although the Shanghai Comp (-0.08%) is currently lower. Meanwhile, markets in South Korea are closed for a holiday. Outside of Asia, US equity futures are pointing to a positive start, with those on the S&P 500 (+0.05%) and NASDAQ 100 (+0.11%) trading slightly higher.

After a material retreat in commodities in the first part of the week, oil bounced back yesterday as prices continue to be volatile in the days after the most recent OPEC meeting. Brent crude rose +1.15% to $78.41/bbl, ending five days of consecutive declines, while WTI rose +1.12% to $74.07/bbl. Copper similarly gained +1.52% yesterday, to $460.60/lb, after having retreated by -11.4% from its peak two weeks ago.

Turning to politics, in India, Prime Minister Modi’s Bharatiya Janata Party has managed to secure the backing from two key allies, the Janata Dal (United) and Telugu Desam Party (TDP), to form a coalition in the Indian government. The Nifty 50 rose +3.36% yesterday and closed at around last Friday’s levels (before the exit polls) after a volatile week. This morning the index has opened up +0.74%.

Staying on politics, the European Parliamentary election begins today, before concluding on Sunday when we’ll see the first exit polls and the results start to come through. See DB’s preview here from Marion Muehlberger. I’ll likely do a CoTD on this this morning so watch out for it around lunchtime. Meanwhile in the UK, the general election is now just 4 weeks away, and yesterday saw YouGov publish the first poll since Nigel Farage’s announcement earlier in the week he was becoming leader of the right-wing Reform UK party. The poll put the opposition Labour Party on 40%, the governing Conservatives on 19%, and Reform UK just two points behind them on 17%.

Now to the rest of the day ahead. In terms of data releases, we have the US April trade balance and initial jobless claims, the UK May construction PMI, Germany May construction PMI, April factory orders, Italy and Eurozone April retail sales and Canada April international merchandise trade. From central banks, we have the ECB decision and the BoE’s DMP survey, and we will have earnings from Nio.

2B EUROPE OPENING/TRADING

SPX & NDX hit record highs and NVDA joins USD 3tln market cap club; ECB due – Newsquawk Europe Market Open

THURSDAY, JUN 06, 2024 – 01:33 AM

SPX and NDX closed at record highs whilst NVIDIA joined the USD 3tln market cap club and overtook Apple as the second-largest US company.
APAC stocks traded mostly firmer as the region largely took its cue from the positive lead on Wall Street, while South Korean markets were closed due to the Memorial Day holiday.
DXY weakened as APAC traders reacted to the pullback in yields, JPY outperformed, and JGB futures were boosted after a strong 30-year auction.
European equity futures are indicative of a firmer cash open with Euro Stoxx 50 futures +0.5% after cash closed +1.7% on Thursday.
Looking ahead, highlights include EZ & UK Construction PMI, Italian Retail Sales, EZ Employment (F), US Challenger Layoffs, IJC, ECB Policy Announcement and Press Conference, and Supply from Spain, and France.

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US TRADE

EQUITIES

US stocks were bid on Wednesday as markets digested a soft ADP, a BoC rate cut, and a hot US ISM Services PMI. SPX and NDX closed at record highs whilst NVIDIA joined the USD 3tln market cap club and overtook Apple as the second-largest US company.
SPX +1.18% at 5,354, NDX +2.04% at 19,035, DJI +0.25% AT 38,807, RUT +1.47% at 2,064.
Click here for a detailed summary.

NOTABLE HEADLINES

US FTC has reportedly opened a probe into Microsoft’s (MSFT) AI deal with Inflection AI, according to WSJ; probe looks into whether MSFT structured the deal to avoid a government antitrust review of the transaction.

APAC TRADE

EQUITIES

APAC stocks traded mostly firmer as the region largely took its cue from the positive lead on Wall Street, while South Korean markets were closed due to the Memorial Day holiday.
ASX 200 saw its upside spearheaded by gold and IT with all sectors in the green but Consumer Staples and Telecoms with the shallowest gains.
Nikkei 225 surged at the open and briefly rose above USD 39,000 as industrials and Tech led the gains whilst autos saw another dire session amid the ongoing safety scandal. The index waned off best levels heading into the Tokyo lunch break.
Hang Seng and Shanghai Comp varied for most of the session with the former conforming to the positive mood across the region whilst the latter saw subdued and contained trade within a tight range, with news flow on the quieter side ahead of the upcoming risk events.
US equity futures traded flat with a mild upward bias with the futures holding onto the gains partly fuelled by NVIDIA’s 5%+ rally on Wednesday as US traders look ahead to Friday’s US jobs report.
European equity futures are indicative of a firmer cash open with Euro Stoxx 50 futures +0.5% after cash closed +1.7% on Wednesday.

FX

DXY experienced a soft session within a 104.04-24 range as APAC traders reacted to the pullback in yields. The index printed a 104.46 peak yesterday in the wake of the hot US ISM Services before trimming around half of the gains during the rest of the US session.
EUR/USD saw overnight tailwinds from the softer Dollar with EUR/USD within a 1.0869-95 range but EUR/GBP flat on either side of 0.8500 ahead of the ECB confab.
GBP/USD saw modest gains as the softer Dollar pushed Cable back above 1.2800 from a 1.2779 APAC low.
USD/JPY lagged as JPY was among the performers and beneficiaries of the softer Dollar and Tuesday’s fall in yields, with USD/JPY towards the bottom of a 155.37-156.11 band. The pair briefly trimmed some losses after BoJ’s Nakamura said based on current data, it is appropriate to keep policy intact for the time being. USD/JPY then reached session highs just shy of 156.00 after BoJ Governor Ueda signalled a cautious approach on rates.
Antipodeans saw firmer trade throughout the session as the high-beta currencies experienced tailwinds from the broader risk appetite alongside the rebound in commodities.
PBoC set USD/CNY mid-point at 7.1108 vs exp. 7.2436 (prev. 7.1097)

FIXED INCOME

10-year UST futures traded flat but held onto the prior day’s gains as futures rose into settlement despite a fleeting move lower on the hot ISM Services PMI.
Bund futures similarly held onto a bulk of the prior day’s upside, with traders gearing up for a heavily telegraphed ECB rate cut, with Bund Sep futures in a 131.36-44 APAC range vs yesterday’s 130.94-131.58 parameters.
10-year JGB futures saw a firm bias in fitting with the gains in Western counterparts during the prior session, with upside bolstered after a strong 30-year JGB auction.

COMMODITIES

Crude futures edged higher as the complex attempted to trim the post-OPEC+ slump and as geopolitics focuses on the rising tensions between Israel and Lebanon, with heavy fighting between the two reported overnight.
Spot gold was propped up by the softer Dollar with the yellow metal breaching its recent range to the upside and now eyeing the 23rd May high at USD 2,383.79/oz
Copper futures rebounded from recent hefty losses with the broader risk mood and softer Dollar helping prop up the base metals complex, helping 3M LME copper reclaim USD 10,000/t+ status.
Saudi Aramco confirmed it sets July Arab Light crude oil OSP to Asia at plus USD 2.40 vs Oman/Dubai average (prev. USD 2.90 M/M).
Canada Energy Regulator said it is updating an order that will allow Nova Gas to temporarily increase operating pressure by 5% in a section of the Grande Prairie mainline.

CRYPTO

Bitcoin was relatively uneventful and traded north of USD 71,000 for most of the session.

NOTABLE ASIA-PAC HEADLINES

BoJ Governor Ueda said inflation expectations gradually rising but yet to reach 2%; Inflation expectations must accelerate to 2% and stay there, for actual inflation to move around 2%; proceeding cautiously on interest rates, according to Reuters and Bloomberg.
BoJ Board Member Nakamura stated that Japan’s economy is recovering moderately, albeit showing some weak signs; Based on current data, it is appropriate to keep policy intact for the time being, according to Reuters. “My view is that inflation may not reach 2% from fiscal 2025 onward if consumption weakens.” He said they will focus on whether inflation-adjusted consumption turns positive in deciding future monetary policy, and said the pass-through of wages to inflation remains weak but he is closely monitoring the situation. Nakamura is not confident that wage growth will be sustained and said a cycle of rising prices and wages is beginning to kick off.
Japan to raise the cap on state backing for copper mine stakes to 75%, according to Reuters.
China Securities Journal noted “Experts said that entering June, it is unlikely that the capital will be significantly tightened, and the central bank will continue to reasonably… to maintain reasonable and abundant liquidity”.
PBoC injected CNY 2bln via 7-day reverse repos with the rate at 1.80%.
US Commerce Secretary Raimondo said Global Infrastructure Partners, KKR, and Indo-Pacific Partners are forming a coalition to fund infrastructure projects; to invest USD 25bln, according to Reuters.

DATA RECAP

Japanese Foreign Invest JP Stock w/e 282.0B (Prev. 82.4B)
Japanese Foreign Bond Investment w/e 1323.4B (Prev. -297.9B, Rev. -310.4B)
New Zealand ANZ Commodity Price (May) M/M: 1.1% (Prev. 0.5%)
Australian Invest Hous’g Fin MM (Apr) 5.60% (Prev. 3.80%)
Australian Balance on Goods (Apr) 6,548 vs. Exp. 5,400M (Prev. 5,024M, Rev. 4,841)
Australian Goods/Services Imports (Apr) -7.2% (Prev. 4.20%)
Australian Owner-Occp’d Hous’g Fin MM (Apr) 4.30% vs. Exp. 1.20% (Prev. 2.80%)

GEOPOLITICS

MIDDLE-EAST

Heavy Israeli bombardment of South Lebanon was reported, according to Al Monitor Senior Correspondent Karam
Yemen’s Houthis said they have conducted three military operations in the Red Sea and Arabian Sea, according to Reuters.
Israeli War Council to meet Thursday to discuss the hostage exchange deal and the Lebanon front, Al Arabiya reports.

RUSSIA-UKRAINE

US expected to sign a new USD 225mln weapons package for Ukraine this week, according to sources cited by Reuters.
Russia’s President Putin said it has to defend gas pipelines on the bed of the Black Sea from Ukraine’s attacks. Ukraine attacked gas facilities meant for Turkey on the Black Sea. Ships that protect these gas pipelines are being constantly attacked by drones, which are supplied to Ukraine by Europe.
Russian President Putin said he has no intention to attack NATO, according to Reuters.
US officials have notified relevant Congressional committees about expected Russian activity, according to a senior US official cited by Reuters. The temporary Russian deployment is likely to include combat vessels but is not seen by the US as a threatening move. The US is expecting Russian naval and air exercises in the Caribbean this summer with port calls likely in Cuba and possibly Venezuela.

CHINA-TAIWAN

US State Department has approved the possible sale of F-16 parts to Taiwan for USD 80mln, according to the Pentagon
Taiwan Defence Ministry said in the past 24 hours, 1 Chinese Air Force plane was detected operating around Taiwan.

OTHERS

IAEA passed a resolution calling on Iran to improve cooperation with IAEA, and reverse its barring of inspectors, diplomats said.
Lawmakers are reportedly pushing for a probe of Chinese solar companies, according to Bloomberg.
White House said Indian PM Modi and US President Biden discussed National Security Adviser Sullivan’s upcoming travel to New Delhi, according to Reuters.

EU/UK

NOTABLE HEADLINES

FTSE Reshuffle: Darktrace (DARK LN, LondonMetric Property (LMP LN) and Vistry Group (VTY LN) are set to replace Ocado (OCDO LN), RS Group (RS1 LN) and St James’s Place (STJ LN)

LATAM

Mexico Health Ministry said a fatal case of bird flu was detected in a man in Mexico state with chronic kidney disease, type 2 diabetes; bird flu detected in humans in Mexico does not represent a risk to the population. So far no evidence of person-to-person transmission, according to Reuters.

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

3 CHINA

CHINA/

China Property Stocks Tumble Into Bear Market As Beijing’s Bailout Fades

BY TYLER DURDEN

THURSDAY, JUN 06, 2024 – 09:50 AM

Three weeks after Beijing announced “historic” measures, including the central bank providing 1 trillion yuan in extra funding, easing mortgage rules, and local governments planning to purchase apartments to clear excess supply, all in a bid to stabilize the worsening downturn in residential property markets, faith in the housing recovery has faltered yet again, as property stocks have tumbled into a bear market.

Between mid-April and mid-May, investors hoped that more decisive government intervention in the world’s second-biggest economy to shore up the property market would slow the descent. New measures were announced on May 17, and since then, after a 73% surge in the Bloomberg Intelligence gauge of Chinese developers, the index has tumbled into a bear market.

The property market downturn has been ongoing since 2021. A series of developers have defaulted on debt, a plethora of idled construction sites, sliding home sales, high inventory levels, and waning confidence in the Chinese population about an economic revival.

In a recent note titled ‘China Unveils A Housing Market Bailout: Here’s What’s In It, And Why It Is Still Not Enough,’ we cited a Goldman note that underscores the need for more housing easing efforts. Judging by the index above, that’s potentially what investors are selling property stocks, emphasizing the urgency for further government intervention.

Here’s more from Goldman:

Expect more housing easing efforts down the road — especially on the demand side — with funding and implementation as key for the effectiveness of the property rescue plan. On the funding, a recent Goldman analysis suggests any game-changing housing easing measures (including those for housing destocking) would require significantly more funding than available thus far, while many inland local governments remain financially stretched after the three years of zero-Covid policy and amid the prolonged property downturn. This will require a larger top-down funding scheme from the central government, beyond the RMB300bn relending quota. Moreover, strengthened fiscal discipline and financial regulation may dampen some officials’ incentives for more concerted and forceful policy efforts. Upcoming policy events — such as the July Politburo meeting, the Third Plenum, and ad hoc meetings/announcements by major authorities (e.g., the State Council, NDRC, MOF, MOHURD, PBOC, SASAC) — will be worth monitoring closely, especially on solutions to address funding and implementation bottlenecks.

In a separate note, Jeff Zhang, an analyst at Morningstar, wrote that the latest economic data in the country shows “there’s not much improvement in property fundamentals,” adding, “We may need to wait until the end of year to see a narrowing of declines or a rise in monthly sales as a result of the government’s rescue package.”

However, in a note, Goldman’s Rich Privorotsky told clients Thursday morning, “China property has now dropped nearly 20% of its highs as stimulus/policy pivot hopes have faded (probably time to think about getting long again).”

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

ECB

The second central bank to cut rates

(zerohedge)

ECB Cuts Rates For The First Time Since 2019, Does Not “Pre-Commit To A Particular Rate Path”

THURSDAY, JUN 06, 2024 – 08:27 AM

And so, the second G7 central bank to launch an easing cycle in the past 24 hours (the BOC was the first) is in the history books.

Moments ago the ECB confirmed that, as widely previewed and expected, it cut rates by 25bps as follows:

ECB Cuts Deposit Facility Rate by 25bps to 3.75%; Est. 3.75%
ECB Cuts Main Refinancing Rate by 25bps to 4.25%; Est. 4.25%
ECB Cuts Marginal Lending Facility Rate by 25bps to 4.50%; Est. 4.50%

Commenting in its statement on the first ECB rate cut since 2019, the central bank said that “based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points and the inflation outlook has improved markedly. Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and inflation expectations have declined at all horizons. Monetary policy has kept financing conditions restrictive. By dampening demand and keeping inflation expectations well anchored, this has made a major contribution to bringing inflation back down.”

At the same time, despite the progress over recent quarters, the ECB noted that “domestic price pressures remain strong as wage growth is elevated, and inflation is likely to stay above target well into next year. The latest Eurosystem staff projections for both headline and core inflation have been revised up for 2024 and 2025 compared with the March projections. Staff now see headline inflation averaging 2.5% in 2024, 2.2% in 2025 and 1.9% in 2026. For inflation excluding energy and food, staff project an average of 2.8% in 2024, 2.2% in 2025 and 2.0% in 2026. Economic growth is expected to pick up to 0.9% in 2024, 1.4% in 2025 and 1.6% in 2026.”

Translation: goodbye 2% inflation target.

Finally, in conclusion for those expecting guidance about more rate cuts, this is how the ECB previewed its next actions:

The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. It will keep policy rates sufficiently restrictive for as long as necessary to achieve this aim. The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction. In particular, its interest rate decisions will be based on its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission. The Governing Council is not pre-committing to a particular rate path.

Also of note, here are the ECB’s new economic projections:

ECB Sees 2025 Inflation at 2.2%; Prior Forecast 2%
ECB Sees 2026 Inflation at 1.9%; Prior Forecast 1.9%

Yes, the ECB raised its 2025 inflation target as it cuts rates.

Bottom line: no surprises, with the ECB cutting rates as expected, and remaining murky on the future, but the take home message is clear: any 2% inflation target the central bank may have had is dead.

The market reaction was generally as expected, with the lack of dovish guidance lifting the EURUSD from 1.0863 to 1.09 over the course of 10-minutes.

At the same time, Bund Sep’24 fell from 131.14 to 130.93 before then extending to a trough of 130.82 around eight minutes later. BTP-Bund yield spread has widened modestly from around 129bp to just over 130bp.

Equities also came under pressure: the Dax Jun’24 fell from 18739 to 18711 and then slipping further to 18686 10-minutes later

Summarizing the decision, Newsquawk writes that overall, the decision was largely as expected with the ECB cutting by 25bp and not committing to any rate path with decision ahead to be data-dependent and meeting-by-meeting. The details from the statement (see below) err on the hawkish side and as such, thus far. the ECB can be described as a hawkish-cut with data-dependence taking centre stage.

Within the statement the ECB acknowledged that the outlook for inflation has improved markedly, however despite recent progress ‘ domestic price pressures remain strong as wage growth is elevated, and inflation is likely to stay above target well into next year.’ Furthermore, the ECB continues to pledge to keep policy “sufficiently restrictive for as long as necessary to attain the 2% goal. On that. HICP forecasts were lifted for 2024 and 2025 on the headline and both by more than expected, with the core views also raised as well. Furthermore, the 2026 GDP view was maintained defying some calls for a moderation.

END

SWEDEN/MIGRANTS

This is what happens when you introduce huge number of migrants into the country and they refuse to assimilate

(Brooke/ReMix)

Sweden Introduces Draconian ‘Security Zone’ In Gang-Crime Hotspot, Indiscriminate Police Powers To Search Anyone

THURSDAY, JUN 06, 2024 – 03:30 AM

Authored by Thomas Brooke via ReMix News,

After a double homicide shooting earlier this week, Swedish residents in Norrköping’s district of Hageby can be searched or have their vehicles searched without the need for reasonable suspicion

Swedish police have introduced the first “stop-and-frisk-zone” in the country’s history, giving officers the power to search any individual or vehicle without the need for reasonable suspicion.

The draconian measure is in response to a double shooting on Monday evening in the Hageby residential district of Norrköping, a city southwest of Stockholm. Two men were pronounced dead at the scene.

As of Wednesday, the authorities are introducing what is also known as a security zone or visitation zone in the area as officers continue to hunt for perpetrators. A man in his 20s has already been arrested on suspicion of murder.

It is understood the police are holding a press conference later on Tuesday to explain the new powers available to them after the law was passed in April this year to help crack down on rampant gang crime.

It is the first time the law will be implemented anywhere in Sweden.

“The aim is to increase security and make it more difficult for criminals to prepare and carry out violent crimes,” a police statement read.

Monday’s double murder was the latest in a long line of serious crime fuelled by a dramatic rise in gang warfare across the Scandinavian country in recent years.

The police were alerted to a residential apartment building in the district shortly after midnight following reports of gunshots.

“I moved here a month ago. Now, I’m already looking for an apartment elsewhere,” one resident told the SVT broadcaster.

Pauline, another resident, said she was considering installing bulletproof glass in her apartment to protect her children.

“Now I’m starting to think about whether I should put protective glass on my windows. If it’s going to keep exploding, I might have to invest in bulletproof glass, both for my kids and myself,” she said.

District prevention officers have been deployed throughout the area to provide support for residents struggling with the dramatic deterioration in security throughout their neighborhood.

“It no longer seems to come completely unexpectedly, but instead a sense of resignation spreads,” one such officer, Lilli Rubino, said.

A police report published in March this year revealed some 62,000 people in Sweden are connected to criminal gangs. To put this into perspective, consider that Sweden is a small country with only 10.4 million people.

“We are talking about system-threatening crime with a large capacity for violence that silences witnesses, threatens social workers, and infiltrates authorities and political parties,” Justice Minister Gunnar Strömmer said at the time. “In the long run, the criminal networks threaten our free and open society.”

Last month, an 18-year-old Iraqi migrant was detained in Sweden on suspicion of murdering Mikael Janicki, a Polish national who was shot dead in front of his 12-year-old son as they were cycling towards a swimming pool in southern Stockholm last month.

Similarly, three Afghan nationals from the same family were arrested in Sweden on suspicion of murdering their 25-year-old female relative in an “honor killing” before burning and dumping her body in the woods.

Read more here…

END

FRANCE

Mass immigration especially of migrants has caused a decline in security for the French.

(Brooke/ReMix)

Mass Immigration & Decline In Security Intrinsically-Linked, Say Majority Of French

BY TYLER DURDEN

THURSDAY, JUN 06, 2024 – 02:00 AM

Authored by Thomas Brooke via ReMix News,

The vast majority of French citizens, including many on the left, believe the growing feeling of insecurity across the country and mass immigration are intrinsically linked, new polling has revealed.

According to a poll conducted by CSA for CNews, Europe 1, and JDD, 68 percent of respondents see a correlation between immigration and the rise in delinquency in France.

The link is widely recognized among right-wing voters, with 94 percent of Republican supporters and 93 percent of those aligned with the National Rally acknowledging such a link. However, a significant minority of those who support pro-immigration left-wing parties also share this concern.

A total of 43 percent of Socialist Party supporters, 38 percent of La France Insoumise (LFI) voters, and 34 percent of Green supporters share the view that high immigration is destabilizing France’s security.

The link is also widely accepted by voters of French President Emmanuel Macron’s governing Renaissance party, with 68 percent of his supporters agreeing there is a link.

Women are more likely than men to agree that immigration is affecting national security, with 70 percent of females agreeing with the statement compared to 67 percent of males.

Similarly, older people view mass immigration less favorably, with 76 percent of those aged 50 and over acknowledging its negative effect on the country, although a majority in every age bracket concurs with that view.

Immigration is a leading issue in France ahead of the European elections taking place later this week and a topic right-wing politicians like Marine Le Pen, Jordan Bardella, and Éric Zemmour are campaigning hard on.

Le Pen and Bardella’s National Rally is expected to dominate the elections and emerge as France’s largest party in the European Parliament, suggesting its hardline approach to mass immigration is resonating with the electorate.

The party’s successes have led to a tactical shift from previous establishment parties, including the center-right Republicans. When asked recently about the links between mass immigration and national insecurity, former French President Nicolas Sarkozy replied, “Who can seriously say that there aren’t any? This does not naturally mean that a foreigner is a delinquent. But of course, the link is obvious.”

“The number of foreigners in our prisons and the part they take in delinquency in general are clear. To deny it is nothing more than a new denial of reality,” he added.

Last August, President Macron said the country needed to “reduce immigration significantly, starting with illegal immigration,” warning the current arrival rate was “not sustainable.”

This followed remarks by Interior Minister Gérald Darmanin a year prior revealing that half of criminal acts in the largest French cities are committed by foreign nationals.

Polling conducted in December last year showed French citizens remained disillusioned with the government’s open-door immigration policy, with 80 percent of respondents supporting a ban on immigration and nearly two-thirds backing a referendum on the issue.

Read more here…

END

GERMANY

Antifa Thug Attacks AfD Politician With A Knife In Germany

BY TYLER DURDEN

THURSDAY, JUN 06, 2024 – 06:30 AM

Authored by Paul Joseph Watson via modernity.news,

A left-wing extremist attacked an AfD politician with a knife in Mannheim, Germany, very close to the same location where an Islamist killed a police officer last week.

A video of the incident shows the AfD’s Heinrich Koch approaching the knifeman as he carries away AfD posters which he had been tearing down.

BREAKING: AfD politician Heinrich Koch STABBED in Mannheim. Here is the alleged video, showing Koch confronting an Antifa member tearing down AfD posters in the city. The Antifa thug swings a knife multiple times, leaving multiple stab wounds on the 59-year-old Koch’s body. The German political class claims the “right” is the biggest threat to state security.

5:58 AM · Jun 5, 2024

10.3K Views

BREAKING: 🇩🇪AfD politician Heinrich Koch STABBED in Mannheim. Here is the alleged video, showing Koch confronting an Antifa member tearing down AfD posters in the city.

The Antifa thug swings a knife multiple times, leaving multiple stab wounds on the 59-year-old Koch's body.… pic.twitter.com/xtozfJoT57
— Remix News & Views (@RMXnews) June 5, 2024

The attacker lunges at Koch with the knife, prompting the politician to scream in pain, before the assailant runs away as Koch calls for the police.

The victim was reportedly left with multiple stab wounds and remains in hospital. The suspect was later arrested by police.

BREAKING: AfD politician Heinrich Koch hospitalized after having been stabbed while campaigning in Mannheim, Germany. A police officer was killed in the same city in an Islamist terror attack just days ago

4:56 AM · Jun 5, 2024

322.7K Views

BREAKING:

AfD politician Heinrich Koch hospitalized after having been stabbed while campaigning in Mannheim, Germany.

A police officer was killed in the same city in an Islamist terror attack just days ago

🇩🇪 pic.twitter.com/DF2aOeT1EJ
— Visegrád 24 (@visegrad24) June 5, 2024

The incident occurred close to the same spot where an Islamist attacked right-wing political activist Michael Stürzenberger during a campaign event last week.

The attack ended up with a police officer stabbed in the neck by the attacker after tackling the wrong suspect. The officer later died from his injuries.

The culprit, Sulaiman Ataee, arrived in Germany in 2013 as an Afghan refugee and was refused asylum but remained in the country due to his age and went on to marry a Turkish woman with German citizenship.

Antifa members routinely engage in violent attacks against AfD politicians, although the media continues to demonize AfD members as domestic extremists, with the political establishment attempting to ban the party entirely.

In 2019, Antifa extremists threatened to assassinate an AfD member of parliament, even naming the exact date on which they would kill her.

Video from a political debate television round table broadcast the same year showed German leftists in the audience applauding death threats made against the right-wing AfD party.

Meanwhile, people who draw attention to government crime statistics that show migrants are vastly overrepresented in violent crime and gang rape are prosecuted for hate speech.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

5. RUSSIA AND MIDDLE EASTERN AFFAIRS.

ISRAEL/USA

Israel Signs $3BN Deal With US For 25 F-35 Stealth Jets

THURSDAY, JUN 06, 2024 – 02:45 AM

“At time when some of our adversaries aim to undermine our ties with our greatest ally, we only further strengthen our alliance,” Defense Minister Yoav Gallant announced Tuesday upon unveiling Israel’s signing a new $3 billion deal with Lockheed Martin for 25 F-35 fighter jets.

“This sends a powerful message to our enemies across the region,” he continued. This will add a third squadron of the advanced stealth fighters to the Israeli air force arsenal.

“The delivery of the aircrafts to the IDF (army) will commence in 2028 at a rate of three to five aircrafts per year,” the defense ministry specified in a statement.

Once the contract is eventually fulfilled, this will bring the total number of F-35s in Israel’s fleet to 75. Israel remains the only country in the Middle East to possess them. The deal was first introduced last summer, when the defense ministry said it was pursuing talks with the US over the transfer.

The newly inked contract underscores Washington’s long-term commitment to Israel’s defense and maintaining complete military technological superiority over enemies and rivals in the region, despite current tensions among the allies over the proposed Gaza ceasefire deal.

As we detailed previously, Israel was the first foreign recipient of the F-35, also known in the US as the Joint Strike Fighter and in Israel by its Hebrew name “Adir.” Israel first used the F-35 in combat when it bombed Syria in 2018.

“The F-35 squadron has become an operational squadron,” Maj. Gen. Amikam Norkin said at the time. “We are flying the F-35 all over the Middle East – we might be the first to attack with F-35 in the Middle East,” he said.

Israel now uses these advanced fighters to regularly attack Syria, often firing from above Lebanese airspace. It has been able to attack what regional media often calls ‘Iranian assets’ in Syria with impunity.

Already in 2024, Israel has attacked Syria over 40 times, most often in the south of the country – in and around the capital of Damascus.

This confession is so great that many do not realize all that it entails. Israel provoked the war in Syria with the aim of removing Assad from power and installing its own clown like in Jordan, who will work in the interest of Israel and protect them from Iran, in the same way like Jordan protected it from Iran’s drones and missiles, couple of months ago. That war caused the first million wave of refugees to Europe. The whole world began to use this wave of refugees to reach Europe. Starting from this very situation. This is a good fact that those Europeans who hate immigrants and support Israel should know.

Quote

Megatron

@Megatron_ron

Jun 3

NEW: Former Director of Israel’s Mossad admits that Israel armed Al Qaeda and other terrorist groups in the Middle East

5:36 AM · Jun 4, 2024

370.7K Views

This confession is so great that many do not realize all that it entails.

Israel provoked the war in Syria with the aim of removing Assad from power and installing its own clown like in Jordan, who will work in the interest of Israel and protect them from Iran, in the same way… https://t.co/zDEA5luT6Y
— Megatron (@Megatron_ron) June 4, 2024

Israel had for much of the last decade also covertly supported the US-Gulf regime change war against the Syrian state which had the aim of toppling President Bashar al-Assad.

END

ISRAEL HEZBOLLAH

US Warns Netanyahu Against Major Offensive In Southern Lebanon

WEDNESDAY, JUN 05, 2024 – 07:10 PM

The United States is warning Israel against “escalation” in Lebanon following fresh Wednesday remarks of Israeli Prime Minister Benjamin Netanyahu which threatened a major offensive due to ratcheting Hezbollah attacks. “We are prepared for a very intense operation in the north. One way or another, we will restore security to the north,” Netanyahu said on a visit to the region.

“We don’t want to see that escalation of the conflict which would just lead to further loss of life from both Israelis and the Lebanese people and would greatly harm Israel’s overall security and stability in the region,” State Department spokesman Matthew Miller responded in a daily briefing.

The Biden State Dept. spox urged caution while appearing to downplay the latest bellicose words out of Tel Aviv. “The statements from the Israeli government saying that they are ready for military operation, if necessary, (are) different than saying that they have made a decision to conduct a military operation,” Miller continued.

“We are still in a place where we believe they prefer a diplomatic solution,” he said while adding that the US fully understands the “untenable situation for Israel” on its northern border.

“There are tens of thousands of Israeli citizens who cannot return to their homes in the north of Israel because it’s not safe to do so because of the … constant Hezbollah shelling and drone attacks in the area,” Miller emphasized.

Not only have fires ripped across large swathes of the Galilee region this week as a result of wildfires sparked by Hezbollah drone and rocket attacks, but the Shia paramilitary group backed by Iran has been scoring more and more direct hits on IDF bases and settlements in northern Israel.

On Wednesday an explosive-laden drone was sent against the town of Hurfeish, located several kilometers from the Lebanon border, which wounded at least eleven Israelis, with one in critical condition. Sirens reportedly failed to sound as the drone as inbound, and the IDF says it is investigating.

Times of Israel details, “According to initial military assessments, the two drones impacted within a few minutes of each other, with the second seemingly targeting rescue crews who arrived to treat those wounded by the first. Hezbollah has employed such a tactic several times amid the war.”

Hezbollah took responsibility for the attack in a statement, saying it was retaliation for a Tuesday Israeli attack Naqoura which took out a Hezbollah member.

The group’s leader, Secretary-General Hassan Nasrallah, has been warning that the world will witness Israeli tanks “burn” if they try to enter Lebanese territory…

During the 2006 war Hezbollah shocked IDF commanders by its performance on the battlefield and effective guerilla tactics, and there has since been a general consensus that the group (which receives assistance from the IRGC) is more formidable than previously thought.

end

ISRAEL/HAMAS

‘Horrific Images’: Over 40 Killed At UN Gaza School That IDF Says Was Used By Hamas

BY TYLER DURDEN

THURSDAY, JUN 06, 2024 – 11:10 AM

There are reports of another mass casualty airstrike emerging from the Gaza Strip on Thursday. The Israel Defense Forces (IDF) struck a school near the central Gaza city of Deir al-Balah, leaving at least 40 people dead and 74 injured.

The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) says those sheltering at the Al-Nusseirat Boys Preparatory were given no prior warning that the strike was coming. But the IDF has countered that it was a “precise strike on a Hamas compound” inside the school and that dozens of Hamas militants were using the compound.

“The terrorists directed terror from the area of the school while exploiting it and using it as a shelter,” the IDF wrote on Telegram. “Several terrorists who planned to carry out terror attacks and promote terrorist activities against IDF troops in the immediate time frame were eliminated in the strike.”

The UN agency is disputing this narrative, with Commissioner-general of UNRWA Philippe Lazzarini saying “the school was sheltering 6,000 displaced people when it was hit.” The Gaza Health Ministry has said that among the dead are 14 children and nine women.

“Attacking, targeting or using UN buildings for military purposes are a blatant disregard of International humanitarian law,” he added. He also explained that throughout the conflict many other UNRWA shelters and conflicts had been struck, and estimated that over 450 internally displaced civilians had been killed in total.

Israeli leaders have long charged Hamas fighters with hiding among civilians or using residential areas to launch missile attacks or store arms. Often IDF military commanders fire back on said militants even knowing it could result in mass civilian casualties.

In this new mass casualty event, Israel does not appear to be denying that its airstrike killed many civilians. It has offered this as defense of its actions:

The Israel Defense Forces (IDF) accused Hamas of embedding inside the UNRWA school and claimed fighters who invaded southern Israel on Oct. 7, killing around 1,200 people and taking another roughly 250 hostages, were sheltering at the site.

“Before the strike, a number of steps were taken to reduce the risk of harming uninvolved civilians during the strike, including conducting aerial surveillance, and additional intelligence information,” they added.

Another horrific day in #Gaza. Another

@UNRWA

school turned shelter attacked. This time in Nuseirat, in the Middle Areas, hit overnight by the Israeli Forces without prior warning to the displaced or

@UNRWA

. At least 35 people were killed and many more injured. The school was sheltering 6,000 displaced people when it was hit. Claims that armed groups may have been inside the shelter are shocking. We are however unable to verify these claims. Attacking, targeting or using UN buildings for military purposes are a blatant disregard of International Humanitarian law.

@UN

staff, premises and operations must be protected at all times. Since the war in #Gaza began, over 180

@UNRWA

buildings were hit and more than 450 displaced people were killed as a result.

@UNRWA

shares the coordinates of all its facilities (including this school) with the Israeli Army and other parties to the conflict. Targeting

@UN

premises or using them for military purposes cannot become the new norm. This must stop + all those responsible must be held accountable.

7:40 AM · Jun 6, 2024

284K Views

Another horrific day in #Gaza.
Another @UNRWA school turned shelter attacked.
This time in Nuseirat, in the Middle Areas, hit overnight by the Israeli Forces without prior warning to the displaced or @UNRWA.

At least 35 people were killed and many more injured.

The school… pic.twitter.com/VL5XWWhmYd
— Philippe Lazzarini (@UNLazzarini) June 6, 2024

This will without doubt result in more pressure from European powers for Israel to halt its operations at a moment there are reports a ceasefire deal is still inching forward in Qatar and Egypt-mediated truce talks.

An Egyptian source has been quoted in Al Jazeeraas saying Thursday, “Hamas leaders have informed us that they are studying the truce proposal seriously and positively.” However, such reporting of ‘positive’ momentum has been a talking point on repeat for several months, but not resulting in a new truce or hostage deal coming to fruition.

“Some of the images that are coming out from Gaza are horrific” Israel has bombed a UN school where displaced people were sheltering.

3:24 AM · Jun 6, 2024

71.7K Views

"Some of the images that are coming out from Gaza are horrific"

Israel has bombed a UN school where displaced people were sheltering. pic.twitter.com/Wd9AI2RIE3
— Saul Staniforth (@SaulStaniforth) June 6, 2024

Below are some of the latest developments via Al Jazeera:

In a statement, the United States and 16 allied countries say they “fully support” the ceasefire and captives’ release deal outlined by US President Joe Biden on May 31.
Gaza’s Health Ministry says 68 Palestinians were killed and 235 wounded in the past 24 hours.
At least 40 people have been killed and dozens wounded in an Israeli attack on a school sheltering displaced people and houses in the Nuseirat refugee camp in central Gaza. The Israeli military has confirmed that its fighter jets targeted an UNRWA school in the area.
Spain says it will join the case filed by South Africa at the International Court of Justice, which accuses Israel of violating its obligations under the Genocide Convention in its war on Gaza.
At least 36,654 people have been killed and 83,309 wounded in Israel’s war on Gaza since October 7. The death toll in Israel from Hamas’s attacks stands at 1,139, with dozens of people still held captive in Gaza.
end

RUSSIA UKRAINE/USA

US Ramps Up Rate Of Ukraine Arms Packages… What’s Another $225 Million?

THURSDAY, JUN 06, 2024 – 06:55 AM

The United States is preparing to announce a new $225 million weapons package for Ukraine this week, coming two weeks after the last package, which was at $275 million and featured badly needed artillery rounds. And a few weeks prior to that, in early May, the US administration rolled out with $400 million in defense aid — thus it appears the White House is planning to apportion new packages about every two or three weeks, drawing from Biden’s $60 billion in recently approved total funding for Ukraine.

Currently, Ukrainian soldiers are resorting to literally trying to find leftover, unexploded artillery shells scattered in the ground at prior battle sites. The Wall Street Journal recently underscored this severe lack of ammo along Ukraine’s front lines in writing that “Kyiv’s ammunition shortage is so acute that a soldier who hunts for Russian shells—and makes his own bombs—has become an important supplier for some units.”

The dangerous trend can be summarized as follows: the more desperation there is on the ground as Ukraine loses more and more ground along frontline positions, the greater the bellicose posturing on the part of NATO and the West. Western publications are even openly airing contingency plans for US troop movements in Europe in a WW3 scenario involving war with Russia in the heart of Europe. As another alarming and somewhat absurd example of this trend, look what European Commission chief is positively boasting about…

George Szamuely

@GeorgeSzamuely

This is fantastic news! Congratulations on having brought Europe to this point.

Quote

Ursula von der Leyen

@vonderleyen_epp

Jun 4

Finland has over 50,000 air raid shelters. Their preparedness aims to strengthen their resilience and to deter aggression. We have so much to learn from the Finns. This is the change of mindset I want to help bring during my second mandate.

0:01

6:26 AM · Jun 5, 2024

11K Views

This is fantastic news! Congratulations on having brought Europe to this point. https://t.co/ygRBLgR2ni
— George Szamuely (@GeorgeSzamuely) June 5, 2024

According to a preview of the $225 million arms package via Reuters, “The United States is expected to announce a new $225 million weapons package for Ukraine this week, sources said on Wednesday.”

“Details of the latest package emerged as President Joe Biden planned to meet with Ukrainian President Volodymyr Zelensky on Thursday in Normandy at the 80th anniversary commemoration of the D-Day invasion. It was unclear if the package would be announced then or on Friday.”

END

Tensions escalating

Russian Warships Steam For Caribbean As Ukraine Tensions Go Global

THURSDAY, JUN 06, 2024 – 10:30 AM

In a show of force perhaps prompted by President Biden’s authorization of Ukrainian strikes inside Russia using US weapons, a group of Russian warships is en route to the Caribbean, a senior US official has told McClatchy and the Miami Herald. White House officials alerted members of Congress to the Russian move on Wednesday.

The deployment signals Russia’s capacity to operate globally while still fully engaged its third year of war in Ukraine. “This is about Russia showing they are still capable of some level of naval power projection,” the official said. “We should expect more of this activity going forward.” In March, Ukraine claimed it had either sunk or disabled a full third of Russia’s ships in the Black Sea.

**Plagued by constant breakdowns, Russia’s only aircraft carrier, the Admiral Kuznetsov, has been out of service for** **seven years** (Norwegian Royal Air Force photo)

CBS News reports that long-range Russian bombers will rendezvous with the ships for combined naval and air maneuvers. Such exercises are not without precedent: Russia conducted similar combined-arms Caribbean maneuvers in 2019, and had a streak of sending ships into the Western Hemisphere at least annually from 2013 to 2020. Following the summer exercises, Russia is expected to engage in a worldwide naval exercise this fall, sources tell CBS.

The Pentagon is tracking a “handful” of ships and support craft that are expected to reach Caribbean waters in the upcoming weeks. US analysts speculate that the flotilla will make port calls in both Cuba and Venezuela. Cuba’s likely relishes the opportunity to host the Russian warships: Last year’s docking of a US nuclear submarine at Guantanamo Bay Naval Base ruffled feathers in Havana, with the Cuban government calling it a “provocative escalation.”

“Clearly, [the Russians] are unhappy — needless to say — with our support for Ukraine and support for our NATO allies,” the official said. Last week, the Biden administration quietly gave Ukraine the green light to use US weapons to strike targets inside Russia. That marked a major policy reversal, as such strikes had previously been barred as too escalatory.

Ukraine has apparently wasted little time in exercising its new freedom, as images circulated on social media that appeared to show burning S-300 and S-400 mobile surface-to-air missile systems inside Russian territory:

On Wednesday, Russian President Putin said he was considering some kind of retaliation-in-kind:

If they consider it possible to deliver such weapons to the combat zone to launch strikes on our territory and create problems for us, why don’t we have the right to supply weapons of the same type to some regions of the world where they can be used to launch strikes on sensitive facilities of the countries that do it to Russia?…We will think about it.”

Expect America’s warmongers to shriek at Russia’s upcoming Caribbean exercises — despite the fact that US military forces routinely buzz by the territorial waters and airspace of Russia, China and many other countries around the world.

END

NATO/RUSSIA/UKRAINE

NATO Kicks Off Massive Baltic Drills As Biden Affirms US Weapons ‘Now Being Used Inside Russia’

THURSDAY, JUN 06, 2024 – 02:50 PM

In the shadow of the Russia-Ukraine war, and right next door, NATO has kicked off its massive annual military exercises in the Baltic Sea. “Baltic Operations 24” is about to be in full swing, kicking off formally on Friday, and involves over 9,000 personnel and more than 50 ships and 85 aircraft, comprising 20 countries.

Crucially, NATO’s newest admittee Sweden is part of the drills as a full member state. The Kremlin is watching closely given the obviously surging regional tensions which has increasingly seen all of Europe put on a war footing.

US military magazine Stripes states that it will feature “amphibious, gunnery, anti-submarine, air defense and mine clearance operations, according to a statement from U.S. 6th Fleet and Naval Striking and Support Forces NATO, or STRIKEFORNATO. Explosive ordnance disposal, unmanned underwater and surface vehicle exercises, and medical response scenarios also are planned.”

To be expected, the exercises are being led to by the country which has from the start dominated NATO’s course and strategy: the United States – with Naval Forces Europe-Africa/6th Fleet and commanded by STRIKEFORNATO, headquartered in Oeiras, Portugal – having charge over the operations. There have been a series of similar major drills since January, but this one comes as US-Russia tensions have reached a new height, given the Biden administration’s resent greenlight for Kiev to use American weapons to strike inside Russian territory.

President Biden himself has finally affirmed that essentially yes – US weapons are now being used against Russian soil. He said this in an interview, in so many words (“limited” to within near Russia’s border [Belgorod region] while mumbling through the response) while in Normandy, France for D-Day commemoration events…

The US lost its mind in 1962 and took us to the brink of world war 3 for weapons just being PLACED 90 miles from the border. This MIC owned sundowning sockpuppet scumbag proclaiming “limited to 200 miles INSIDE Russia” and thinking it’s all good and that nothing will happen.

Quote

RNC Research

@RNCResearch

“Are American weapons being used right now inside Russia?” BIDEN: Yes

10:04 AM · Jun 6, 2024

119 Views

The US lost its mind in 1962 and took us to the brink of world war 3 for weapons just being PLACED 90 miles from the border.

This MIC owned sundowning sockpuppet scumbag proclaiming “limited to 200 miles INSIDE Russia” and thinking it’s all good and that nothing will happen. https://t.co/wIR5dRaV0Q
— Beyond Narratives (@beyondnarrativs) June 6, 2024

Russia appears to be ‘answering’ with some deeply provocative drills of its own, as we reported earlier…

In a show of force perhaps prompted by President Biden’s authorization of Ukrainian strikes inside Russia using US weapons, a group of Russian warships is en route to the Caribbean, a senior US official has told McClatchy and the Miami Herald. White House officials alerted members of Congress to the Russian move on Wednesday.

CBS News detailed that long-range Russian bombers will rendezvous with the ships for combined naval and air maneuvers.

Such exercises are not without precedent: Russia conducted similar combined-arms Caribbean maneuvers in 2019, and had a streak of sending ships into the Western Hemisphere at least annually from 2013 to 2020. Following the summer exercises, Russia is expected to engage in a worldwide naval exercise this fall, sources tell CBS.

Future historians might look back on all of this and describe it as the lead-up to WW3… or worse, we could already be in its beginning phases, but neither side has fully acknowledged the dark reality as of yet.

Does this concern anyone? “Strikes are authorized just across the border”…

ABC: Putin says the U.S. supplying high-precision weapons to Ukraine for strikes on Russian territory is “direct participation in this war” … does that concern you? BIDEN: “I’ve known him for over 40 years.”

0:51

7:35 AM · Jun 6, 2024

43.1K Views

ABC: Putin says the U.S. supplying high-precision weapons to Ukraine for strikes on Russian territory is "direct participation in this war" … does that concern you?

BIDEN: "I've known him for over 40 years." pic.twitter.com/pQwO48e6pN
— RNC Research (@RNCResearch) June 6, 2024

COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES

WORLD EVENTS NOTEWORTHY

END

WORLD HEALTH ISSUES

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Entire COVID TASK FORCE was an inept clown car show, morons save Giroir, all they did was MADE UP, fake, unscientific, Atlas & I were pounding on inside but the nation had dolts, corrupt, incompetent

idiots on stage daily & we told Trump do not speak, let the morons WEAR it, but he has now learnt, these people were academically sloppy, intellectually lazy, non-sensical, stupid & hurt Trump & USA

DR. PAUL ALEXANDERJUN 5

READ IN APP

Led by Fauci the GARDEN GNOME (well, that name was Malone’s but he can share it), the scarf lady dufus Birx, liar in chief, all of them, just terrible and they conspired to hurt Trump, daily, with the CDC, NIH, FDA career deepstate malfeasants…

now Fauci says the 6 feet social distancing was made up? I told you this years now, Redfield told me directly…all of this was kabuki theatre…a clown show daily…

100% of COVID was a lie, nothing about COVID was true, down to the deadly ineffective Malone Bourla Bancel mRNA vaccine…lockdowns to vaccine…a PCR manufactured false-positive non-pandemic that never was a pandemic, using also lie of asymptomatic spread. all lies. all of it, release, wet market, lab leak, GoF, all of it…lie upon lie, misdirection. all of these people must be investigated using proper hearings. under oath.

END

Of Sweden and Rape & the curious case of why the media covers it up & pretends; so I will tell you! Sweden & many Nordic European nations are RAPE capitals due to the medieval islamist jihadists

no, it is not Hindu doing the raping, or Christian, or Jews, it is radical 6th century medieval muslim islamist jihadists, yes, military aged islamist males (like what Obama & Biden gave to America)

DR. PAUL ALEXANDERJUN 6

READ IN APP

Malmö, Sweden, a very dangerous place, many ‘NO-GO’ zones where police even cannot enter, over-run by islamist jihadist shariah gangs. That is what Obama and Biden have sought to do to America.

It is why we need Trump, and why 45 must close the borders and deport every single illegal came in under Biden and Obama and prior Obama and Biden, as well as Bush etc.

Every one for among them, there are killers, jihadists, bombers, stabbers, rapists…gang rapists…

(100) The truth about the Swedish rape crisis. (substack.com)

‘There is something terrible happening in Sweden, and for some strange reason it seems like most of the media is refusing to talk about it.

SLAY NEWS

The latest reports from Slay NewsCovid Death Rates Double Among Vaxxed, Top Study Shows A major peer-reviewed study has revealed that deaths from COVID-19 soared among those who received mRNA shots to supposedly protect them from the virus.READ MORE Scientist Blows Whistle on Cover-Up of Study Showing Covid Shots Cause Cancer Two scientists published a peer-reviewed study in 2021 showing that Covid mRNA shots cause cancer but their findings were covered up over fears it would fuel so-called “ant-vaccine propaganda.”READ MORE School Official Declares the Term ‘Illegal Alien’ to Be Equal to ‘N-Word,’ Audio Recording Reveals A North Carolina school administrator has argued that using the term “illegal alien” is equal to the use of the “N-word,” a new audio recording has revealed.READ MORE Congressional Lawmakers Warn Biden Shows Clear Signs of Mental Decline in Private Meetings Several congressional lawmakers have reportedly raised the alarm about Democrat President Joe Biden’s mental decline.READ MORE DOJ Admits Altering Biden’s Classified Documents Interview Transcript The Department of Justice (DOJ) has admitted to altering the transcript of Democrat President Joe Biden’s interview with Special Counsel Robert Hur.READ MORE Jonathan Turley: Supreme Court Will Overturn Trump’s Conviction Constitutional law scholar Professor Jonathan Turley has offered his expert opinion on how he expects the U.S. Supreme Court will rule regarding President Donald Trump’s recent conviction in New York.READ MORE Trump & Republicans Move to Block Invalid Ballots Being Counted in Nevada President Donald Trump’s campaign and the Republican National Committee (RNC) are moving to stop election officials in Nevada from counting invalid ballots.READ MORE Top Republicans Move to Defund Jack Smith A new House proposal by Judiciary Committee Chair Jim Jordan (R-OH) seeks to defund the office of Special Counsel Jack Smith.READ MORE U.S Supreme Court Rejects Corrupt Judge’s Petition to Have Bribery Conviction Purged The U.S. Supreme Court has rejected a motion to dismiss a 2015 bribery conviction for former Faulkner County Circuit Court Judge Mike Maggio.READ MORE Washington Post Publisher Blasts Staff as Top Editor Quits: ‘People Are Not Reading Your Stuff’The Washington Post is continuing to struggle as the left-wing propaganda outlet hemorrhages money amid a dwindling audience of readers.READ MORE Biden Trots Out ‘Convicted Felon’ Attacks against Trump: ‘This Guy Does Not Deserve to Be President’Before President Donald Trump’s “guilty” verdict was declared by a New York jury last week, Democrats have been foaming at the mouth to use their new “convicted felon” label for the 45th POTUS.READ MORE Court Sets Date for Trump’s Appeal to Disqualify Fani Willis from Georgia Case President Donald Trump’s appeal to disqualify Fulton County District Attorney Fani Willis from her case in Georgia will be heard before the November election.READ MORE Epstein Victim Sues Top Psychiatrist Henry Jarecki A victim of deceased child trafficker Jeffrey Epstein has filed a lawsuit in New York against prominent psychiatrist Dr. Henry Jarecki.READ MORE

EVOL NEWS

U.S Supreme Court Rejects Corrupt Judge’s Petition to Have Bribery Conviction Purged – EVOL READ MORE…

LATEST NEWS:

NEWS ADDICTS

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Team Trump Gets HUGE News Ahead Of 2024 House Speaker Mike Johnson has made a significant forecast in anticipation of the upcoming presidential election in November.READ THE FULL REPORT

Records Show Chinese Vaccine Giants Paid Multiple Royalties to Fauci’s Former Agency According to documents obtained by Open The Books, two Chinese vaccine manufacturers, Changchun BCHT and China National Biotec Group, were among the most frequent payers of royalties to Dr. Anthony Fauci’s former agency, the National Institute of Allergy and Infectious Diseases (NIAID), during the 2022 and 2023 fiscal years.READ THE FULL REPORT

Biden Unveils Shock New Executive Order President Joe Biden revealed a fresh immigration executive order on Tuesday.READ THE FULL REPORT

Hot Mic Catches Senator BRUTALLY Mocking Biden Video footage circulating on social media shows Republican Iowa Sen. Joni Ernst making a comment about President Joe Biden’s claim that his uncle was eaten by cannibals in Papua New Guinea during World War II.READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

Experts ‘Baffled’ by Soaring Excess Deaths Among Vaxxed A new study shows that global excess death rates are continuing to soar among the Covid mRNA vaccinated, leaving so-called “experts” to claim they are “baffled” why so many people can die “despite the vaccines.”READ THE FULL REPORT

WEF Took $100 Billion in Profits from ‘Carbon Taxes’ Last Year The World Economic Forum (WEF) is gloating that the unelected globalist organization raked in a whopping $100 billion in profits from “carbon taxes” last year alone.READ THE FULL REPORT

Biden Gets Caught In ANOTHER Blatant Lie The Biden administration shared a statement on Wednesday that falsely claimed that “guns are the number one killer of children.” Guns are the number one killer of children in America. Our Administration continues to do everything we can to end gun violence and save lives. pic.twitter.com/7xmvFNPhOW — The White House (@WhiteHouse) June 5, 2024 Breitbart News debunked President Joe Biden’s …READ THE FULL REPORT

Dem Congressman Has MAJOR Brain Freeze During Live Interview During a CNN interview on Wednesday, Democratic Pennsylvania Senator John Fetterman remained silent for a duration of twelve seconds following a question posed by host Dana Bash. Fetterman chose not to respond when Bash inquired about President Joe Biden’s executive order regarding new asylum requests after daily migrant crossings surpassed 2,500. Bash had to repeat her question in an attempt …READ THE FULL REPORT

Trump Makes HUGE 2024 Announcement: ‘Remember These Words…’Donald Trump, the ex-President, reaffirmed his belief in winning a traditionally Democratic state in a video shared on his Truth Social platform on Tuesday. Despite current polling indicating otherwise, Trump, a native of Queens, New York, remains confident in securing victory in his home state. “I believe that with your support, we can win the state of New York and …READ THE FULL REPORT

end

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

END

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR: 1.0865 DOWN .0007

USA/ YEN 156.15 DOWN 0.023 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2771 DOWN .0023

USA/CAN DOLLAR: 1.3693 UP .0003 (CDN DOLLAR DOWN 3 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 16.61 PTS OR 0.54%

Hang Seng CLOSED UP 51.84 PTS OR 0.28%

AUSTRALIA CLOSED UP .65 %

// EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 51.84 OR 0.28%

/SHANGHAI CLOSED DOWN 16.61 PTS OR 0.54%

AUSTRALIA BOURSE CLOSED UP .65%

(Nikkei (Japan) CLOSED UP 213.34 PTS OR 0.55%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2361.00

silver:$30.31

USA dollar index early THURSDAY morning: 104.30 UP 8 BASIS POINTS FROM WEDNESDAY’s CLOSE.

THURSDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing THURSDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.154% UP 5 in basis point(s) yield

JAPANESE BOND YIELD: +0.963% DOWN 3 AND 3/ 100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.286 UP 4 in basis points yield

ITALIAN 10 YR BOND YIELD 3.876 UP 4 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.5560 UP 4 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY

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

Euro/USA 1.0876 UP 0.0004 OR 4 basis points

USA/Japan: 156.25 UP 0.033 OR YEN IS DOWN 33 BASIS PTS

Great Britain 10 YR RATE 4.223 DOWN 2 BASIS POINTS //

Canadian dollar DOWN .0007 OR 7 BASIS pts to 1.3698

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2450 (ON SHORE)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2607)

TURKISH LIRA: 32.23 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.963…

Your closing 10 yr US bond yield UP 1 in basis points from WEDNESDAY at 4.296% //trading well ABOVE the resistance level of 2.27-2.32%)

USA 30 yr bond yield 4.450 UP 1 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.734 UP 1 BASIS PTS.

GOLD AT 11;30 AM 2362.90

SILVER AT 11;30: 30.40

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

London: CLOSED UP 38.29 PTS OR 0.47%

German Dax : CLOSED UP 76.73 PTS OR 0.41%

Paris CAC CLOSED UP 33.55 PTS OR 0.42 %

Spain IBEX CLOSED UP 90.90 OR 0.80%

Italian MIB: CLOSED UP 326.46 PTS OR 0.95%

PTS

WTI Oil price 74.73 12EST/

Brent Oil: 79.08 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 88.90 ROUBLE DOWN 0 AND 13/100

GERMAN 10 YR BOND YIELD; +2.5560 DOWN 2 BASIS PTS.

UK 10 YR YIELD: 4.223 DOWN 2 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0888 UP 0.0015 OR 15 BASIS POINTS

British Pound: 1.2788 DOWN 0.0005 OR 5 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.209 DOWN 2 BASIS PTS//

JAPAN 10 YR YIELD: 0.966%

USA dollar vs Japanese Yen: 155.32 DOWN 0.399/ YEN UPP 40 BASIS PTS//

USA dollar vs Canadian dollar: 1.3669 DOWN 00021 //CDN dollar UP 21 BASIS PTS

West Texas intermediate oil: 75.59

Brent OIL: 79.84

USA 10 yr bond yield DOWN 1 BASIS pts to 4.283

USA 30 yr bond yield DOWN 1 BASIS PTS to 4.432%

USA 2 YR BOND: DOWN 0 PTS AT 4.730

USA dollar index: 104.08 DOWN 15 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 32.24 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 88.84 DOWN 0 AND 6//100 roubles

GOLD 2,373.40 3:30 PM

SILVER: 31.24 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 78.84 PTS OR 0.24 %

NASDAQ DOWN 17.78 PTS OR 0.09 %

VOLATILITY INDEX: 12.66 UP .03 PTS OR 0.24%

GLD: $219.43 UP 1.61 OR 0.74%

SLV/ $29.53 UP 1.17 . OR 4.12%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Market Pancakes As Nvidia Gamma Squeeze Fizzles, Attention Turns To Jobs, Global Easing Cycle

BY TYLER DURDEN

THURSDAY, JUN 06, 2024 – 04:01 PM

After yesterday’s breathless Nvidia-led meltup, which saw the AI chipmaker surpass both $3 trillion in market cap and Apple’s valuation, today’s session was a boring affair by comparison, which saw the S&P close unchanged after a day in which the index barely moved.

There were three reasons behind the lack of action.

First, technicals. As Goldman’s Brian Garrett notes, ES 5350 is the “magnetized” strike, with $9.5 billion of gamma – a record amount – to trade per 100bps; This means that dealers have to sell 35,000 eminis on a 1% rally, and buy 35,000 eminis on a 1% sell off. Said otherwise, the record dealer gamma is now preventing spoos from moving too far, too fast in either direction from 5350.

Second, tech momentum died. After yesterday’s remarkable gamma squeeze in NVDA, which saw near calls explode as if the underlying was some penny stock and not a $3 trillion behemoth…

The world’s biggest company (because NVDA will surpass MSFT tomorrow) is getting gamma squeezed

4:14 PM · Jun 5, 2024

89.3K Views

The world's biggest company (because NVDA will surpass MSFT tomorrow) is getting gamma squeezed pic.twitter.com/b7PltycG2j
— zerohedge (@zerohedge) June 5, 2024

… an early morning “rugging” of NVDA – which saw the stock lose $175 billion in market cap just seconds after the cash close as call holders liquidated positions – crushed momentum and made sure the stunning gamma squeeze would quietly fade away.

As a result, NVDA was unable to hold on to its brand new position as the world’s 2nd most valuable company, and promptly relinquished that – and the $3 trillion market cap threshold – back to AAPL, if only for the day. Tomorrow is another day when the pre-10:1 stock split bulls will try to make NVDA the world’s biggest stock, ahead of Monday.

Third, event risk. tomorrow we get a key jobs report, now that payrolls are once again more important than inflation, and as Goldman pointed out earlier today dealers are the longest spot gamma in history, but net short the upside tail. This means that nobody is too crazy to place big directional bets ahead of a print which could see momentum ignited in either direction depending on how the NFP print comes.

Incidentally, Goldman believes that the set up into the print remains favorable for stocks, with a goldilocks NFP zone in the low 100s as stocks continue to cheer for a palatable slowdown). We think Big Data measures indicate a below-normal pace of job creation during the spring hiring season, and our layoff tracker has rebounded. Street is looking for a headline reading of +185k (GIR +160k, prior +175k

And while today was boring, with little newsflow besides the latest twit from Roaring Kitty who sent GameStock soaring more than 40% just because he announced he would have a youtube livestream tomorrow at noon…

… another historic event quietly took place when the ECB became only the second G7 bank to cut rates – after a 5 year hiatus …

… even as the central bank raised (!) its inflation forecasts…

… guaranteeing that any pretense of a 2% inflation target is dead and buried, something which wasn’t lost on gold and silver, both of which have soared ever since Canada cut rates first yesterday…

… nor was it lost on oil which has recovered a big chunk of its latest losses.

The only asset class which remained completely clueless to the return of central bank easing was – ironically – crypto, with both bitcoin and especially ethereum dumping even though traditionally they have been the best early indicators of shifting liquidity and volatility conditions. Today however, manipulation from the Jane Streets of the world and other HFT momentum ignitres overcame any nascent recent bullishness.

MORNING TRADING//

AFTERNOON TRADING/FOMC MINUTES

II USA DATA

Initial Jobless Claims Rise Near 8-Month Highs

THURSDAY, JUN 06, 2024 – 08:59 AM

Another week, another government-sponsored jobless claims print to mock.

According to the propaganda spreadsheet at Biden’s Department of Labor, 229,000 Americans filed for jobless benefits for the first time last week, up from an upward revised 221,000 the prior week, and above the 220,000 median estimate.

There were no major outliers this week: Minnesota and California saw the largest jump in claims while Michigan and Texas saw the biggest declines.

Continuing claims was basically flat just below 1.8 million Americans, again, but we do note that the ‘trend’ for claims is up (4-week MA at 8 month highs)…

And yet, despite the rock-solid (if modestly deteriorating) government data, WARNs and job Challenger cut announcements (not provided by the government) remain notably elevated and continue to rise…

So like last week, we ask: is everyone who is getting laid off immediately being hired by NVDA? And how soon after the election will all this “data” be revised higher…

end

Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens

WEDNESDAY, JUN 05, 2024 – 09:40 PM

For much of the past year we had been pounding the table on two very simple facts: not only has the US labor market been appallingly weak, with most of the jobs “gained” in 2023 and meant to signal how strong the Biden “recovery” has been, about to be revised away (as first the Philly Fed and now Bloomberg both admit), but more shockingly, all the job growth in the past few years has gone to illegal aliens.

We first pointed this out more than a year ago, and since then we have routinely repeated – again, again, and again – yet even though we made it abundantly clear what was happening…

Stunning statistic: there has been ZERO INCREASE in jobs for native-born workers in over five years, since July 2018!

9:52 AM · Jan 5, 2024

·https://x.com/zerohedge/status/1743284218363257148

613.3K Views

… going so far as to point out the specific immigration loophole illegals were using to work in the US for up to 5 years…

Why have all new jobs since 2018 gone to foreign-born workers (i.e. immigrants)? Because you can be an illegal immigrant in deportation proceedings (not to mention anyone seeking asylum) and get authorization to work in the US for up to 5 years, no questions asked.

3:45 PM · Mar 10, 2024

7.4M Views

Why have all new jobs since 2018 gone to foreign-born workers (i.e. immigrants)? Because you can be an illegal immigrant in deportation proceedings (not to mention anyone seeking asylum) and get authorization to work in the US for up to 5 years, no questions asked. pic.twitter.com/VmhTBUM1I2
— zerohedge (@zerohedge) March 10, 2024

… and even fact-checking the senile, ballot-harvesting White House occupant on multiple occasions…

Fact-check: 1. Prices have never been higher and are starting to accelerate to the upside again 2. All the jobs created in the past year have been part time. 3. There has been zero job growth for native-born Americans since 2018; all jobs have gone to immigrants (mostly illegal immigrants) 4. Real wages have not only been negative for most of the Biden presidency, they just turned negative again.

Quote

President Biden

@POTUS

Feb 29

Inflation is the lowest it has been in nearly three years. And wages, wealth, and jobs are higher than they were before the pandemic.

2:46 PM · Feb 29, 2024

1.3M Views

Fact-check:

1. Prices have never been higher and are starting to accelerate to the upside again
2. All the jobs created in the past year have been part time.
3. There has been zero job growth for native-born Americans since 2018; all jobs have gone to immigrants (mostly illegal… https://t.co/MeX7KhbaHl pic.twitter.com/OJI79p9oLp
— zerohedge (@zerohedge) February 29, 2024

… we were shocked that the topic of most if not all US jobs going to illegals was still not “the biggest political talking point” of all.

How is this not the biggest political talking point right now: since October 2019, native-born US workers have lost 1.4 million jobs; over the same period foreign-born workers have gained 3 million jobs.

11:17 AM · Jan 15, 2024

1.8M Views

How is this not the biggest political talking point right now: since October 2019, native-born US workers have lost 1.4 million jobs; over the same period foreign-born workers have gained 3 million jobs. pic.twitter.com/Z5HVWmQ24C
— zerohedge (@zerohedge) January 15, 2024

That’s about to change, however, because with just under 5 months left until the election, and with immigration by far the hottest political topic out there, others are finally starting to connect the dots we laid out more than a year ago.

The first Wall Street analyst daring to point out that the employment emperor is naked, is Standard Chartered’s global head of macro, Steve Englander who in a note titled simply enough “Immigration leading to labor-market surge” (and available to pro subscribers in the usualk place), writes that according to his estimates “undocumented immigrants account for half of job growth in FY24 so far” (the actual number is far higher but we understand his initial conservatism), and adds that “asylum seekers and humanitarian parolees explain the surge in undocumented immigrants” before concluding that the continued rise in EAD approvals likely will extend strong employment growth in 2024. In other words, “strong employment growth” for American citizens, always was and remains a fabulation, and the only job growth in the US is for illegals, who will work for below minimum wage, which also explains why inflation hasn’t spiked in the past year as millions of illegals were hired.

Below we excerpt from the Englander note because we hope that more economists, strategists and politicians will read it and grasp what we have been saying for over a year.

Echoing what we have said for months, Englander writes that immigration, particularly illegal immigration, “is a political flashpoint that has also become an important factor in assessing economic performance. Detailed data from US Customs and Border Protection (CBP) and US Citizenship and Immigration Services (USCIS) suggest that half of non-farm payroll (NFP) growth to date for FY24 (started 1 October 2023) has been from undocumented immigrants who have received an Employment Authorization Document (EAD)” (he defines undocumented immigrants as those who entered the US through non-traditional immigration pathways, such as asylum seekers, parolees, and refugees).

The ability to track EAD issuance to undocumented workers is an advantage in estimating how much they have contributed to employment growth. NFP counts workers with an EAD just like any other. Using that data, it is easy to estimate that undocumented workers have added 109k jobs per month to NFP out of the average 231k increase so far in FY24.

Which is staggering since last night we showed that about 100K monthly jobs are purely statistical distortions, and the real pace of job growth in the past year has been around 130K.

So if 100K jobs per month are fabricated birth/death artifacts (i.e., not real jobs but a statistically goalseeked fudge factor), and another 109K jobs per month are illegal aliens, that leaves just about 11K jobs for everyone else, i.e., law abiding Americans.

It also means that the labor market in the US has – for the past year – been an absolute catastrophe and harbinger of economic disaster (and is why last night we pointed out “The “Unexpected” Reason Why The Fed Will Rush To Cut Rates As Soon As Possible“).

But wait, as Englander himself admits, the 109K estimate of illegal aliens “may be an underestimate since undocumented immigrants often have limited access to benefits, so they may be heavily motivated to find employment. The GDP impact might be lower if these workers are less educated and face language barriers in the work force.”

Here, Englander – who did not do the Birth/Death analysis – writes that if one excludes these illegal immigrant workers, “NFP may be running at c.125k per month” and adds that “such a pace is not recession but is hardly boom time and represents a moderate underlying pace of labor demand. It should make the 231k FY24 pace of headline NFP less worrisome to the FOMC. FOMC participants might be less hawkish if the impact of undocumented immigrants on NFP was well estimated and understood.”

Of course, if the Std Chartered analyst were to factor for the true collapse in Birth-Death adjustments discussed yesterday by Bloomberg…

… the real number would be, well, zero!

While the political reason behind the propaganda misrepresentation of the US jobs market is simple: after all, in an election year it is imperative that the Biden economy be portrayed as glowingly as possible, even if it means lying about everything, the cascading consequences from this fabrication are staggering. As Englander concedes, “this added labor supply also may have shifted trend employment and GDP growth, making it hard to gauge whether a strong NFP or even GDP number reflects supply or demand. If supply is driving upside surprises, the takeaway is more optimism that inflation will slow. If demand, the opposite. Soft economic data should be seen through the lens of added labor supply, while strong data releases are ambiguous.”

Taking a closer look, such increased labor supply – from illegals – should put downward pressure on wage growth relative to a baseline with less immigration (documented or not). In measures such as average hourly earnings, the disinflationary impact would be two-fold:

lower wages overall from an increase of labour supply relative to labour demand and
a composition effect because the undocumented immigrants often work in low wage industries even with EADs.

However, this is likely to be a gradual process, so the low wage impact may not be immediately visible. In addition, insofar as these workers’ wages reflect relatively low productivity, the composition effect on wages will be offset by a composition effect on productivity – unit labour cost growth may be unchanged.

These observations notwithstanding, one can assume that the contribution of undocumented immigrants to employment is unlikely to change any time soon. Indeed, over the last 12 months an average of 280k undocumented immigrants per month have been encountered nationally, most whom can or will be eligible to work legally in coming months. The same methodology suggests that these workers contributed about one-third of FY23 employment growth.

It gets worse.

The Congressional Budget Office (CBO) estimated that in fiscal 2023 a further 860k individuals crossed the border without contact with US immigration authorities. While these people are not eligible for EADs they may still work off the books or with fake or borrowed documents. As such, their output and spending will show up in GDP, although it is unlikely that much if any of their “labor input” is captured. These, along with others (tourists who overstay visas, students whose visas have expired, etc.) are technically undocumented as well. But since few are eligible for EADs, it is unlikely that they are captured in any BLS survey.

In any event, Englander estimates that over 800k undocumented immigrants found jobs in FY23, and assumes that 64.2% of EAD recipients (the average for the foreign-born population) are working. However, the employment rate may well be higher since these are likely to be “very motivated” workers, since they are not generally eligible for unemployment insurance and other benefits, so work is a necessity for many.

Ssing this calculation, and since Nonfarm Payrolls grew 3.1 million in FY23, the 800k would represent more than 25% of NFP growth.

But what about those record numbers of multiple job-holders we have also discussed.

Ah yes, to address that Englander next calculates an augmented version of NFP that includes agricultural workers, self- and family-employed workers from the household survey (CPS), and subtracts multiple-job holders. By this measure employment grew 2.7 million (this is largely due to a rise in multiple-job holders, which are subtracted to avoid double counting). So far in FY24, on average over 170k undocumented immigrants have received EAD approvals every month and c.109k have found work based on employment rates. And since NFP has averaged 230k per month, these workers likely accounted for around half of job growth. Again, this number excludes the roughly 100k per month addition coming from birth/death calculation distortions which will soon be revised away as Bloomberg’s chief economist Anna Wong calculated, before concluding that “by the end of the year the printed level of nonfarm-payrolls for 2024 likely will overstate true employment by at least one million.”

Again, this means that when stripping away the 100K in statistical “jobs” from the 230K monthly payroll number, and then removing the 109K in illegal alien workers, the number of jobs added by ordinary, legal, native-born, Americans in the past year has been – more or less – zero.

We, for one, can’t wait for Joe Biden to explain how this was remotely possible during his upcoming debate with Trump in three weeks time.

Much more in the full must-read note – especially to those who will be prepping Donald Trump for his upcoming debate – from Englander available to pro subscribers in the usual place.

END

Trade deficit jumps to 1 1/2-year high on strong U.S. demand for imported goods

June 6, 2024 at 8:38 a.m. ET

MarketWatch

Trade gap widens to $74.6 billion in April

The numbers: The trade deficit surged by almost 9% in April to a one-and-a half year high because of an increase in imports, a sign that a steadily growing U.S. economy still has plenty of demand.

The deficit climbed to $74.6 billion in April from $68.6 billion in the prior month, government data showed.

The bigger trade gap could weigh on gross domestic product, the official measure of the U.S. economy, in the second quarter. A wider deficit also depressed first-quarter GDP.

Yet the increase in the deficit in April was largely tied to greater demand for autos and industrial supplies, which would a positive sign for the U.S. economy. A strong dollar has also made foreign goods cheaper to buy.

Big picture: A wide U.S. trade deficit reflects both a stronger U.S. economy compared to other countries and a stronger dollar that makes foreign goods cheaper to buy.

Still, rising deficits subtract from GDP and it might happen again in the second quarter. It doesn’t mean the economy has necessarily gotten weaker, however.

III USA ECONOMIC COMMENTARIES

“He’s Not The Same Person”: Biden Allies Freak After WSJ Blasts “Slipping” Brain

WEDNESDAY, JUN 05, 2024 – 02:30 PM

The Biden administration is scrambling for damage control over the president’s mental condition. Over the past month, the White House claimed executive privilege over an audio tape of Biden’s classified documents interview with Special Counsel Robert Hur, the transcripts of which were altered to make Biden seem more competent.

Next, TIME Magazine’s Massimo Calabresi couldn’t give a straight answer over Biden’s serious cognitive decline exhibited during an interview.

RNC Research

@RNCResearch

The TIME Magazine reporter who interviewed Biden *could not have been more vague* when asked how Biden seemed during their interview — as questions swirl around Biden’s noticeable cognitive decline

10:15 PM · Jun 4, 2024

151.5K Views

The TIME Magazine reporter who interviewed Biden *could not have been more vague* when asked how Biden seemed during their interview — as questions swirl around Biden's noticeable cognitive decline pic.twitter.com/sUBhTMc8vL
— RNC Research (@RNCResearch) June 5, 2024

Now, the White House and Biden allies are slamming a Tuesday report from the Wall Street Journal in which 45 people from both sides of the aisle told the outlet that Biden is, to put it mildly, two sandwiches short of a picnic.

nowden

@Snowden

Front page of

@WSJ

confirming, as politely as possible, that Biden’s apparent decline is real—and serious.

11:20 AM · Jun 5, 2024

732.4K Views

Front page of @WSJ confirming, as politely as possible, that Biden's apparent decline is real—and serious. pic.twitter.com/ENIB3dJwH3
— Edward Snowden (@Snowden) June 5, 2024

The Journal cites a January meeting behind closed doors during a critical discussion about Ukraine funding, Biden’s soft-spoken nursing home demeanor led some participants to question his engagement, as he occasionally read from notes and paused. “You couldn’t be there and not feel uncomfortable,” one attendee noted about the meeting’s dynamics, adding “I’ll just say that.”

In another example, Biden completely forgot the details of ‘his’ own policy on big energy projects during a one-on-one meeting with House Speaker Mike Johnson.

Others who attended said Biden’s demeanor and level of engagement fluctuated and he seemed lively and engaged at some points. When the topic moved to an immigration overhaul, Johnson, the House speaker, offered Biden a list of dozens of executive actions he could undo to improve border security. Biden, rather than responding to Johnson’s suggestions, chided him, according to people at the meeting, “I’ve forgotten more about immigration than you’ll ever know.” -WSJ

Then, during debt ceiling negotiations with House Republicans, former House Speaker Kevin McCarthy and others noted that Biden’s demeanor and command of the details varied significantly from day to day. On some days, Biden was described as relying heavily on notes and mumbling, which could suggest inconsistency in cognitive performance.

“I used to meet with him when he was vice president. I’d go to his house,” McCarthy said in an interview. “He’s not the same person.” -WSJ

The article also lays out public speaking errors, such as mixing up names of his Hispanic cabinet secretaries, mistakenly speaking about conversations with long-deceased leaders, and other factual errors. These instances contribute to the narrative of cognitive decline.

In another section, the Journal reports that “The president moved so slowly around the Cabinet Room to greet the nearly two dozen congressional leaders that it took about 10 minutes for the meeting to begin, some people who attended recalled.”

White House Responds

Well, not officially anyway… but several administration aides shared a lengthy segment from MSNBC‘s Morning Joe, who was picked to carry the water this time.

“I’ve spent time with both of those guys privately. Spent time with Biden and Trump privately. I’ve spent time with every House Speaker over the past 30 years. And Joe Biden, I’m not just — it’s just not close,” said host Joe Scarborough.

“If you want to talk about international affairs, if you want to talk about how to get bipartisan legislation, Joe Biden is light-years ahead of all of them,” he continued.

American Archer

@CalenArcher

“This version of Biden intellectually, analytically; is the BEST Biden ever.. and F U if you can’t handle the truth.” Joe Scarborough has officially lost his mind

2:28 PM · Jun 3, 2024

9,361 Views

“This version of Biden intellectually, analytically; is the BEST Biden ever.. and F U if you can’t handle the truth.”

Joe Scarborough has officially lost his mind pic.twitter.com/8wHvrbSgsj
— American Archer (@CalenArcher) June 3, 2024

The pushback didn’t stop there.

Deputy press secretary Andrew Bates posted on the social platform X a series of past quotes from McCarthy in which he praised Biden’s conduct during their private meetings over the debt ceiling. McCarthy told reporters publicly after those meetings that Biden was “very professional, very smart. Very tough at the same time,” and he reportedly told colleagues in private that he found Biden to be mentally sharp.

“What a surprise – Republicans employing their election year messaging strategy that contradicts their own prior words about @POTUS,” White House communications director Ben LaBolt posted on X. “Gambling in Casablanca!”

Sen. Patty Murray (D-Wash.) posted on X that she was interviewed for the piece but was not quoted.

“Surprise, surprise—everyone attacking @POTUS is a Republican with an agenda,” she posted. “I made clear to the @WSJ regarding the January meeting on Ukraine that the President was absolutely engaged & ran that meeting in a way that brought everyone together. I’m not quoted—I wonder why.” –The Hill

“As someone who has spent and continues to spend a lot of time with the president and continues to, I think ensure that I am living up to sort of his… strategic approach at every turn, I will say that he is, you know, just one of the strongest leaders that I’ve been able to engage and to be able to work with and to advise,” said Biden campaign manager, Julie Chavez Rodriguez.

Remember when the left wanted to impeach Trump under the 25th Amendment for ‘mental instability?’ Where are those people now?

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

END

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

“A Blatant Lie”: The Biden Campaign Falsely Accuses Fox’s John Roberts Of Lying About The Insulin Caps

WEDNESDAY, JUN 05, 2024 – 05:15 PM

Authored by Jonathan Turley,

Winston Churchill once said that “A lie gets halfway around the world before the truth has a chance to get its pants on.”

It often seems like the Biden White House and campaign has embraced that warning as an operating principle.

The most recent target was the veteran Fox news anchor John Roberts, who was accused of airing “a blatant lie” in questioning Biden’s claim that he was the first president to push through a cap of $35 on insulin treatments. Roberts was entirely correct, but the campaign has still not removed the false attack on his integrity and accuracy.

In the interests of full disclosure, I am a legal analyst for Fox News and I have known Roberts for decades. There is no one who I hold in higher regard for his integrity or his intellect than John Roberts. We have known and worked with each other at different networks through the years. Roberts is an old-school journalist with impeccable credentials.

Yesterday, the Biden campaign launched the attack on Roberts for his questioning of the claim of President Joe Biden that he solely secured the insulin cap. Roberts remarked that he had a recollection that it was former President Donald Trump who pushed the cap.

“I seem to remember that back in May of 2020, Centers for Medicare & Medicaid said that President Trump had signed an executive order to cap the price of insulin for Medicare recipients at 35 bucks. Now, maybe I’m misremembering that, but I think it kind of already happened.”

The Biden campaign then called it “a blatant lie” in a posting on X that has reached over a million people.

https://www.zerohedge.com/markets/blatant-lie-biden-campaign-falsely-accuses-foxs-john-roberts-lying-about-insulin-caps

Contrary to the Biden campaign’s claims, Roberts’s recollection was entirely correct. Under the Trump Administration, the Centers for Medicare & Medicaid Services announced in May 2020 that the Part D Senior Savings Model participating plans would cap insulin copays to $35 per month’s supply, and over 1,750 Medicare Advantage and Medicare Part D plans applied to offer lower insulin costs.

Trump praised the new policy, which was widely covered by the press.

There was a Rose Garden event where Trump was praised for his actions:

Trump later, in July 2020, signed four executive orders aimed at lowering the cost of insulin. That included Executive Order 13937, which required Federally Qualified Health Centers to pass 340B discounts on to patients. Notably, Biden later reversed Executive Order 13937 before those cost-saving measures could take effect.

This is obviously not the first false statement from the President. However, it is notable that his campaign spread obvious disinformation that was picked up by over a million people but then declined to take down the false claim. The campaign is now in a worse position. To take down the posting is to acknowledge not just that it has lied about Roberts, but that the President lied in taking sole credit for this cap.

This is the same administration supporting the banning, blacklisting, and throttling of those responsible for disinformation. I would not support such censorship of the campaign. This and other columns refuting the false account is sufficient to combat a “blatant lie” by the Biden campaign. Whether it is his uncle being eaten by cannibals or insulin caps, free speech can correct false claims without government regulation. However, President Biden and his administration continue to push for censorship of others accused for false or misleading statements.

The fact that John Roberts was right is hardly surprising. However, there remains a “blatant lie” on the Biden campaign’s social media that must still be corrected.

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON OR NEWT GINGRICH

END

SWAMP NEWS

“Biden Knew”: Hunter, James Biden Slapped With Criminal Referrals Over “Influence Peddling Schemes”

WEDNESDAY, JUN 05, 2024 – 10:30 PM

House Republicans have referred Hunter and James Biden to the DOJ for criminal prosecution, accusing the pair of making false statements to Congress amidst an ongoing impeachment inquiry into President Joe Biden.

The criminal referrals, which were formalized on Monday, culminate from seven months of investigative work by three House committees. The probe alleges an extensive influence peddling operation involving the president’s family, linking millions of dollars in international business deals to potentially corrupt figures and entities, including those connected to the Chinese Communist Party.

We Are Referring Hunter and James Biden for Criminal Prosecution Our Committee, along with

@JudiciaryGOP

and

@WaysandMeansGOP

, today sent criminal referrals to the DOJ recommending Hunter and James Biden be charged with making false statements to Congress about key aspects of the impeachment inquiry of President Joe Biden. These false statements implicate Joe Biden’s knowledge of and role in his family’s influence peddling schemes and appear to be a calculated effort to shield Joe Biden from the impeachment inquiry.

2:00 PM · Jun 5, 2024

1.4M Views

🚨 BREAKING 🚨

We Are Referring Hunter and James Biden for Criminal Prosecution

Our Committee, along with @JudiciaryGOP and @WaysandMeansGOP, today sent criminal referrals to the DOJ recommending Hunter and James Biden be charged with making false statements to Congress about… pic.twitter.com/gWM7S8grQm
— Oversight Committee (@GOPoversight) June 5, 2024

“Our investigation has revealed President Biden knew about, participated in, and benefitted from his family cashing in on the Biden name around the world,” said Rep. James Comer (R-KY), Chairman of the House Oversight Committee. Comer and Rep. Jim Jordan of the House Oversight Committee, as well as Ways and Means Committee Chair Jason Smith, suggested multiple charges including perjury for Hunter Biden.

“Despite this record of evidence, President Biden continues to lie to the American people about his involvement in these influence peddling schemes. It appears making false statements runs in the Biden family. We’ve caught President Biden’s son and brother making blatant lies to Congress in what appears to be a concerted effort to hide Joe Biden’s involvement in his family’s schemes,” reads the referral.

As Just the News reports further, the chairmen identified three instances in which they believe Hunter Biden lied to the committee.

“[F]alsely distanced himself from” one of his companies, Rosemont Seneca Bohai, LLC, and its bank account that received millions for foreign entities and individuals. Despite this, that bank account transferred funds to him from those foreign sources.
Making false statements about holding a position at that same company. Documents released after the first son’s testimony show he signed a document identifying himself as corporate secretary of the enterprise.
Misrepresented a text conversation with Chinese company executive “Zhao” with whom he invoked his father’s presence in a threatening text message. Biden claimed he mistakenly messaged the wrong person, however messages released by one of the committees show he continued to speak with that same executive days afterward.

The committee also argue presidential brother James Biden lied in his deposition by:

Saying he did not meet with Hunter Biden business partner Tony Bobulinski while the group pursued a deal with CEFC China Energy.

“Lying to Congress is a serious crime with serious consequences,” said Jordan. “Hunter and James Biden did just that. They lied to coverup President Biden’s involvement in their family’s international influence peddling schemes that have generated millions of dollars. These criminal referrals are a reflection of criminal wrongdoing by the Biden family, and the Department of Justice must take steps to hold the Bidens accountable.”

We’re sure Merrick Garland will get right on it!

END

Report: J6 Committee Delayed Secret Service Driver From Refuting False Limo Story

THURSDAY, JUN 06, 2024 – 07:20 AM

Authored by Jonathan Turley,

Just the News is reporting that the January 6th Committee rebuffed repeated efforts from a Secret Service agent to refute the false story related by Cassidy Hutchinson alleging a violent episode with Trump in the presidential limousine during the Capitol riots. The J6 Committee staff repeatedly delayed the testimony of the agent to disprove the widely reported allegation.

Rep. Barry Loudermilk, the chairman of the House subcommittee that is investigating the Jan. 6 riot, has obtained a transcript of the driver’s interview that was conducted months after he first offered to testify. However, it turns out that committee staff were asked repeatedly by counsel for the agent to let him present evidence debunking the claim. Despite being reported by virtually every news outlet, the Committee slow walked his appearance as the story went viral.

The transcript of the driver’s testimony contains express objections by the lawyer that his client had offered to testify in July, August and September of 2022, but was “rebuffed” by the committee.

The account reaffirms a major criticism of the committee. After Democrats refused to allow the GOP to pick its members (as a long-accepted practice in the House), the Democrats selected two anti-Trump Republicans who did little to push for a full and fair display of witnesses and facts. The Committee was chaired by Rep. Benny Thompson, a Democrat, with Rep. Liz Cheney, as Vice Chairwoman.

Cheney and the committee members clearly knew that Hutchinson’s account was debunked by the very driver who allegedly struggled with Trump. Yet, they allowed the media to report the incident for months while rebuffing the requests of the driver. Loudermilk is quoted as saying “We’re talking about the driver of the limousine, and the head of the entire protective detail. They were brought in by the select committee to testify, but they weren’t brought in until November.”

The false account was given by Hutchinson in June of that year.

The Secret Service driver testified Trump never tried to reach for or grab the wheel of the SUV.

Notably, the transcript shows Cheney trying to explain the delay as due to the need for the Secret Service to produce all documents in the January 6 investigation.

Yet, she had no problem with making the false story public through Hutchinson before such supporting material was supplied. She also did not suggest any countervailing testimony or witnesses on the issue as the media ran with the account. Instead, Cheney publicly teased the claim that they had much more evidence of crimes against Trump, which never materialized. Cheney ended one hearing by calling for more officials to come forward and noting that Trump family members and former officials have now come forward with their own public “confessions.”

Many of us support the effort to bring greater transparency to what occurred on Jan. 6th and these hearings have offered a great deal of important new information. Indeed, it has proven gut-wrenching in the accounts of lawyers and staff trying to combat baseless theories and to protect the constitutional process.

Yet, the heavy-handed approach to framing the evidence by the Committee was both unnecessary and at times counterproductive. The strength of some of this evidence would not have been diminished by a more balanced committee or investigation.

We previously discussed the highly scripted and entirely one-sided presentation of evidence in the Committee. Indeed, witnesses were primarily used to present what Speaker Nancy Pelosi referred to as “the narrative” where their prior videotaped testimony was shown and they were given narrow follow-up questions. They at times seemed more like props than witnesses — called effectively to recite prior statements between well-crafted, impactful video clips. It had the feel of a news package, which may be the result of the decision to bring in a former ABC executive to produce the hearings.

That framing led to glaring omissions. The Committee routinely edited videotapes and crafted presentations to eliminate alternative explanations or opposing viewpoints like repeatedly editing out Trump telling his supporters to go to the Capitol peacefully.

What is striking was that offering a more balanced account, including allowing the Republicans to appoint their own members (in accordance with long-standing tradition), would not have lessened much of this stunning testimony. Yet, allowing Republicans to pick their members (yes, including Rep. Jim Jordan) would have prevented allegations of a highly choreographed show trial. It would have added credibility to the process.

If the Committee had a single member with a dissenting or even skeptical viewpoint, testimony on issues like the fight in the presidential limo could have been challenged before it was thrown before the world.

That was clearly not in the interests of the J6 Committee or the media, which eagerly spread this false account.

KING REPORT

The King Report June 6, 2024 Issue 7258

Independent View of the News

Bloomberg (@markets): The Bank of Canada cut interest rates by a quarter of a percentage point, (as expected) making it the first Group of Seven central bank to kick off an easing cycle. https://t.co/wZieKP6XEa

US Service Providers Chalk up Strongest Growth in Nine Months – BBG
     ISM purchasing managers index jumped 4.4 point in May to 53.8 (as expected)
     Business Activity posted biggest monthly gain (10.3) in three years
“The majority of respondents indicate that inflation and the current interest rates are an impediment to improving business conditions, Nieves said. Thirteen services industries reported growth in May, led by real estate (How is this possible?) and health care. Five sectors, including retail trade, noted a decline…

ADP: Private employers added 152,000 jobs in May (175k expected)
Job gains were slower in May due to a steep decline in manufacturing. Leisure and hospitality also showed weaker hiring… https://adpemploymentreport.com/

@FreightWaves: Old Dominion Freight Line’s tonnage metrics have turned positive for the first time in nearly 2 years. The less-than-truckload carrier’s Q2 update shows improvement from the first quarter but a slight deceleration in growth rates from April to May. https://x.com/FreightWaves/status/1798475112640823534

Gov. Hochul ditches hated congestion pricing plan in stunning reversal over economic fears: ‘New Yorkers are struggling’ https://trib.al/cwezry1

US economic data has been mixed. Digesting the data is complicated by the bogus government data.

Fangs bubbled up on Thursday, led by Broadcom (+6.18%) and Nvidia (+5.16%)

@SuburbanDrone: Nvidia is closing in on $3t market cap. Stock is up 1,000% in just over a year and half. 10:1 stock split this Monday. This is the new GameStop except having the market cap of Britain.

The DJTA rallied sharply on strength in land transportation stocks. Precious metals and crypto currencies rallied sharply on the hope of more central bank rate cuts. Bonds rallied smartly.

ESMs traded positive, but sideways from 18:30 ET until they broke higher after 6 ET. ESMs steadily rallied, hitting 5328.50 at 9:27 ET. The dump then commenced; ESMs sank to 5306.50 at 9:59 ET. The usual suspects then aggressively bought; ESMs soared to a daily high of 5344.50 at 11:42 ET.

Appeals court rejects SEC fee rule in win for private equity, hedge fund industry
The rule overturned on Wednesday required fund managers to issue quarterly performance and fee reports, perform annual audits, and stop giving some investors preferential treatment over redemptions and special access to portfolio holdings… https://t.co/MInZM7YcUd

@zerohedge: SEC HEDGE FUND FEE DISCLOSURE RULE STRUCK DOWN BY US COURT
Gary Gensler really should resign.

Citadel Securities, BlackRock back Texas Stock Exchange in challenge to NYSE, Nasdaq (What will be the ‘front running’ policy?) https://t.co/uaQdNvU74a

Rubio’s Files for Bankruptcy After Closing 48 CA Locations
The Carlsbad-based fast casual restaurant chain plans to sell the 41-year-old business…
     “The closings were brought about by the rising cost of doing business in California.”…
https://patch.com/california/carlsbad/rubios-files-bankruptcy-after-closing-48-ca-locations

Positive aspects of previous session
The NY Fang+ Index jumped 2.2%, led by Broadcom and Nvidia.
The S&P 500 & Nasdaq hit all-time highs; The DJTA rallied 1.18%; USMs were +24/32 at 16:30 ET.

Negative aspects of previous session
Precious metals and crypto currencies rallied sharply on expected rate cuts.
The DJIA continued to greatly underperform other major equity indices.
Nvidia is a bubble; it’s trading at ~37.6 times yearly revenue (as of 4/30) of $79.77B

Ambiguous aspects of previous session
What will burst the NVDA/Mag 7 Bubble? Is bubble inflation transitory?

First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5335.28
Previous session S&P 500 Index High/Low: 5354.16, 5297.64

Chinese illegal immigrant surge at US southern border ‘proves our worst fears’: lawmakers
Encounters of Chinese nationals have spiked by more than 6,000% since 2021 (That’s a lot of spies!)
https://www.foxnews.com/politics/chinese-illegal-immigrant-surge-us-southern-border-proves-our-worst-fears-lawmakers

Adrift vessel causes Ravenel Bridge (Charleston, SC) to temporarily close in all directions: Officials
The MSC Michigan lost propulsion near the bridge, according to the United States Coast Guard (USCG). It was stuck going between 14 to 17 knots, approximately 16 to 20 m.p.h…
https://abcnews4.com/news/local/ravenel-bridge-shut-down-in-all-directions-due-to-out-of-control-vessel-cpd-charleston-police-department-mount-pleasant-county-lowcountry-propulsion-south-carolina-sc-wciv

Today – Traders want to be long for the expected ECB rate cut. However, after the rate cut, be alert for spirited liquidation, especially if the ECB issues a more hawkish communique than expected. Thereafter, traders want to be long for an expected soft May NFP that will generate wailing for Fed rate cuts.

With the S&P 500 and Nasdaq breakout, frenzied momentum buying & short covering could occur.

Expected economic data: Q1 Nonfarm Productivity 0.0%, Unit Labor Costs 4.9%; Apr Trade -$76.5B; Initial Jobless Claims 220k, Continuing Claims 1.79m

NQMs are +5.50; ESMs are +1.25; USMs are +2/32 at 20:23 ET.

S&P Index 50-day MA: 5186; 100-day MA: 5102; 150-day MA: 4931; 200-day MA: 4788
DJIA 50-day MA: 38,812; 100-day MA: 38,707; 150-day MA: 37,814; 200-day MA: 36,846
(Green is positive slope; Red is negative slope)

S&P 500 Index (5354.03 close) – BBG trading model Trender and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4670.23 triggers a sell signal
Weekly: Trender is positive; MACD is negative – a close below 5071.73 triggers a sell signal
Daily: Trender is positive; MACD is negative – a close below 5232.86 triggers a sell signal
Hourly: Trender and MACD are positive – a close below 5314.47 triggers a sell signal

WSJ: Behind Closed Doors, Biden Shows Signs of Slipping
Participants in meetings said the 81-year-old president performed poorly at times. The White House said Biden is sharp and his critics are playing partisan politics.
    When President Biden met with congressional leaders in the West Wing in January to negotiate a Ukraine funding deal, he spoke so softly at times that some participants struggled to hear him… He read from notes to make obvious points, paused for extended periods and sometimes closed his eyes for so long that some in the room wondered whether he had tuned out… On some days, he had loose and spontaneous exchange… on others he mumbled and appeared to rely on notes. “I used to meet with him when he was vice president. I’d go to his house,” McCarthy said… . “He’s not the same person.”…
    This article is based on interviews with more than 45 people over several months… Most of those who said Biden performed poorly were Republicans, but some Democrats said that he showed his age…
    With Ukraine running out of munitions, the White House called together top lawmakers to discuss what it would take to get congressional funding, along with the scope of border-security changes demanded by Republicans. The president moved so slowly around the Cabinet Room to greet the nearly two dozen congressional leaders that it took about 10 minutes for the meeting to begin, some people who attended recalled… When questions came directly to him, he would turn to staffers, they said..
https://www.wsj.com/politics/policy/joe-biden-age-election-2024-8ee15246?st=xapqq65o3arv8ih

Biden, 81, showing signs of decline as pols and aides detail use of cheat sheets, closing eyes for extended periods of time: ‘Not the same person’ – President Biden’s cognitive decline has become obvious and concerning to several high-ranking congressional lawmakers, according to a bombshell new report — which describes how the 81-year-old commander-in-chief increasingly relies on cheat sheets in meetings and at times has closed his eyes for so long that people wondered if he had drifted off…
    In a February follow-up with House Speaker Mike Johnson, the Louisiana Republican expressed his concern to the president over the administration’s liquid natural gas export policy — fearing it was benefiting Russia. Biden didn’t seem to know the policy was actually in effect and falsely claimed it was “only a study,” according to the report. The exchange “dismayed” Johnson, according to individuals who witnessed it…
    “And he was shocked when I’d say: ‘No, Mr. President. We talked about that meetings ago. We are done with that,’” he (Ex- Speaker McCarthy) recalled…
    A senior GOP aide told The Post that the alarming allegations in the report are why the Justice Department has refused to release tapes of Biden’s interview with former special counsel Robert Hur in the classified documents investigation…
https://nypost.com/2024/06/04/us-news/biden-showing-signs-of-decline-as-pols-aides-detail-81-year-olds-slipping-cognitive-fitness/

@paulsperry_: The White House was so worried about a new Wall Street Journal expose on Biden’s cognitive decline during meetings that it pressured NY Rep Gregory Meeks and other Democrats interviewed for the article to call back the WSJ reporters to offer positive remarks about Biden

@CortesSteve: The lights are on, but nobody is home. Joe Biden is shot. (Deeply troubling video)
https://x.com/CortesSteve/status/1798063229006196792

@kylenabecker: Biden’s “Time” interview is an absolute train wreck.
https://x.com/kylenabecker/status/1798183818064466124

@kylenabecker: In the original Biden-Hur transcript releases, you see “indiscernible” a total of 48 TIMES.   https://democrats-judiciary.house.gov/news/documents

‘National security issue’: Ex-WH doctor raises alarms on Biden’s mental health after bombshell report https://t.co/AF1krPNua8

@GOPoversight: We Are Referring Hunter and James Biden for Criminal Prosecution
Our committee, along with @JudiciaryGOP and @WaysandMeansGOP, today sent criminal referrals to the DOJ recommending Hunter and James Biden be charged with making false statements to Congress about key aspects of the impeachment inquiry of President Joe Biden. These false statements implicate Joe Biden’s knowledge of and role in his family’s influence peddling schemes and appear to be a calculated effort to shield Joe Biden from the impeachment inquiry.

@JoeBiden: No one is above the law. 5/31/24

GOP Rep. Massie asked AG Garland if Jack Smith was nominated by Biden. Garland says no. Massie asks if the US Senate confirmed Jack Smith. Garland says no. Massie asks Garland when the Special Counsel Statute was passed. Garland says there is no such law, and the Independent Counsel Statute has expired. Massie asks Garland by what gives you the authority to appoint Jack Smith as Special Counsel.
https://x.com/RepThomasMassie/status/1798335747529007511/video/2

@RepThomasMassie: Yesterday in the Judiciary committee, I asked AG Garland if Jack Smith’s Special Counsel office is… legal and submitted former AG Meese’s amicus brief on that topic for the record. A few hours later, Judge Cannon agreed to allow that question to be debated in the courtroom. (on 6/21)

Horrific day for Garland—one lawmaker asked him this simple question, and he couldn’t find an answer…  https://revolver.news/2024/06/horrific-day-for-garland-one-lawmaker-asked-him-this-simple-question-and-he-couldnt-find-an-answer/

Trump’s Secret Service driver wanted to quickly refute Cassidy Hutchinson’s J6 tale but was rebuffed – Rep. Barry Loudermilk says he’s deeply concerned by delay from Democrat-led Jan. 6 panel because it misled Americans… The transcript of the driver’s testimony reviewed by Just the News shows his lawyer complained that his client had offered to testify in July, August and September of 2022, but was “rebuffed” by the January 6 committee led by Chairman Rep. Benny Thompson, a Democrat, and Vice Chairwoman Rep. Liz Cheney, a Republican, both fierce opponents of Trump…
https://justthenews.com/government/congress/trumps-secret-service-driver-wanted-quickly-refute-cassidy-hutchinsons-j6-tale

@AM560TheAnswer: Georgia Court of Appeals has POSTPONED all further proceedings in the Fani Willis RICO case against former President Trump until they decide on disqualification.
https://x.com/AM560TheAnswer/status/1798466861165645857

@DavidLimbaugh: Teen savages in downtown Chicago attacked a married couple, saying, “There are our streets.” The wife lost the baby from kicks in the stomach & the culprits were only charged with misdemeanors then released. We’re approaching the day when civilized people will either totally abandon the cities or they’ll start packing & responding with lethal force.

(Chicago) Alderman wants unaccompanied kids out of downtown by 8 p.m.
Ald. Brian Hopkins (2nd) revealed his proposal in an email Wednesday after a couple was viciously attacked by a group of teenagers last Friday… A 14-year-old boy and a 17-year-old girl were charged with misdemeanor battery after Friday’s attack… near the corner of McClurg and Grand around 9:17 p.m.  Hopkins says misdemeanor charges are “entirely inappropriate.” He wants the teens slapped with felonies…  https://cwbchicago.com/2024/06/new-alderman-wants-unaccompanied-kids-out-of-downtown-by-8-p-m.html

Gateway Pundit: Leftists Eating Their Own: Jimmy Kimmel Live Forced to Refilm After Code Pink Radicals Disrupt Kamala Harris and Are Then ‘ASSAULTED AND CHOKED’ by Security
    CODEPINK, known for its radical opposition to U.S. military interventions and advocacy for social justice, joined forces with groups like Chino Valley for Palestinian Liberation, Pasadena for Palestine, and autonomous residents of Los Angeles to stage their protest…

Jimmy Carter’s True Legacy Is Disastrous Antisemitism
The clearest example is Carter’s disastrous empowerment of Iranian Islamists, arguably the most self-destructive presidential decision of the past half-century…
    As President, Carter reneged on the Nixon and Ford administration commitments to not ask Israel to return to the pre-1967 lines. Carter’s high-pressure tactics and bias toward the Palestine Liberation Organization (PLO) irritated not only Israeli Prime Minister Menachem Begin, but also his more liberal predecessor, Yitzhak Rabin… Journalists Andrew and Leslie Cockburn are harsh critics of Israel. But they still recorded what Carter said when he heard that Begin had been advising his political opponents: “If I get back in … I’m going to f*** the Jews.”…
    He advocated US recognition of Hamas, and denied that Hamas refused to recognize Israel — notwithstanding the genocidal Hamas charter. He parroted former Palestinian leader Yasser Arafat’s preposterous claim that the PLO “never advocated for the annihilation of Israel” and “wouldn’t equate Palestinian antipersonnel rockets with terrorism aimed at Israel’s people” — notwithstanding the genocidal PLO covenant. Incredibly, Carter wouldn’t condemn suicide bombings against Israel on moral grounds, but only as counterproductive tactics in the cause of Palestinian liberation…
    Weeks before Carter green-lighted Khomeini’s triumphant return to Iran, the CIA had translated Khomeini’s most recent work, which made no effort to hide the cleric’s antipathy toward Israel and Jews…  https://dailycaller.com/2024/06/04/katsman-jimmy-carter-antisemitic-policies-anti-zionism/

NYT: Europe Has Fallen Behind the U.S. and China. Can It Catch Up?
A “competitiveness crisis” is raising alarms for officials and business leaders in the European Union…

@SariArhoHavren: Cheap energy from Russia, cheap exports from China and reliance on military protection by the United States have kept Europe lazy. Radical change is needed, but it is hard to imagine anything substantial taking place without a crisis driving the actions.

Today is the 80th Anniversary of D-day. For the first time in many years, there will be many observances and ceremonies that will salute and hail D-Day soldiers.

GREG HUNTER INTERVIEWING DFR SHERRI TENPENNY

CV19 Vax is Death by Government – Dr. Sherri Tenpenny

By Greg Hunter On June 6, 2024 In Political AnalysisNo Comments

By Greg Hunter’s USAWatchdog.com

Dr. Sherri Tenpenny was one of the first doctors to sound the alarm on the massive deaths and disabilities that would come from the CV19 “vaccine.” She was right, but that did not stop the Ohio Medical Board from suspending her license. Dr. Tenpenny recently had her medical license restored, and she did not have to make a single retraction about warnings she gave about the CV19 bioweapon vax. Now, Dr. Tenpenny is sounding the alarm again and telling people NOT to take the new experimental “Bird Flu” vax. Dr. Tenpenny says to expect more deaths and injuries from this medical malpractice, too. Dr. Tenpenny explains, “This is democide. Democide is death by government. I hope people remember that and will not be fooled by the next round of scare tactics that they are starting to ramp up about the Bird Flu. They tried this with the Marburg virus. They tried it with Ebola. They tried it with Monkey Pox. Now, they are trying it with Bird Flu. . . . Back in 2005, I actually wrote a book called ‘Foul Bird Flu: It’s Not What You Think.’ I am going to be updating it and re-releasing it in a couple of weeks. It was an historical book, and I was writing it in real time back in 2005. What they are doing now is the same thing except the difference is they are coming after our food supply. They are going to be culling millions of chickens. If one cow on an entire ranch tests positive for H5N1, they are talking about killing off the entire ranch. Instead of isolating that particular cow and seeing if they can get sick, no, they are just going to kill them all. So, they are in the process of decimating our food supply. I think this is a really important fact for people to know about and get prepared.”

Dr. Tenpenny goes on to point out, “They can release it under an EUA (Emergency Use Authorization), and I believe the FDA has found a loophole in the law to where they can release anything coming in the future as an Emergency Use Authorization. So, they are not liable. You can’t sue them. They don’t have to put up a package insert. There were three rules that they violated when they released the Covid shot, and they are just out to get us all vaccinated. They just want to get every single person with as much foreign matter into our bodies as they possibly can.”

There are about 700 million CV19 vax injections that have been given in the US alone. Dr. Tenpenny says these injections cause a variety of problems such as sudden death, dramatically reduced immune system, heart problems, blood clots, autoimmune disease and unusually fast spreading cancers called “Turbo Cancer.” Dr. Tenpenny says, “Even it you have had just one Covid shot, you have increased you risk of sudden death and developing cancer. The more shots you have, the more your risk is. . . . ‘Turbo Cancer’ is a brand-new terminology in medicine. I have been a doctor for a long time, and that is a brand-new word they developed after the Covid shots. These people may have been in complete remission, and their cancers came back in a highly aggressive way, or they got new cancers that from the time they were diagnosed until the time they died were months, weeks or sometime even days. So, they didn’t even have time to start getting . . . current known cancer treatments.”

In closing, Dr. Tenpenny advises NOT to get the Bird Flu shot and no more CV19 boosters.

There is much more in the 59-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Dr. Sherri Tenpenny, one of the first medical doctors to tell everyone NOT to take CV19 bioweapon injection. Dr. Tenpenny is now warning NOT to take the Bird Flu vax for 6.5.24.

(To Donate to USAWatchdog.com Click Here)

(Tech Note: If you do not see the video, know it is there. Unplug your modem and plug it back in after 30 sec. This will clear codes that may be blocking you from seeing it. In addition, try different browsers. Also, turn off all ad blockers if you have them. Finally, clear your cache and that might help too. https://its.uiowa.edu/support/article/719 All the above is a way Big Tech tries to censor people like USAWatchdog.com.)

After the Interview:

CV19 Vax is Death by Government – Dr. Sherri Tenpenny

To sign up for Dr. Tenpenny’s free webinar on Zeolite June 15^th, click here.

For Dr. Tenpenny’s Zeolite/Detox special offer, click here. (USAW does not get paid in any way for posting this.)

END

SEE YOU ON THURSDAY

SHANGHAI GOLD (USD) FUTURES – QUOTES

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 462 NOTICES FOR 46,200 OZ or 1.4370 TONNES

total notices so far: 28,380 contracts for 2838,000 Oz (88.273 tonnes)

FOR JUNE:

SILVER NOTICES: 0 NOTICE(S) FILED FOR nil OZ/

total number of notices filed so far this month : 905 for 4.525 million oz

An interim BRICS+ trading currency arrangement

BRICS and the SCO have agreed to replace dollars with national currencies for trade settlement. This article shows how it is leading to the renminbi becoming the reserve currency for members.

The background

Futures Flat As Tech Storms Higher, ECB Rate Cut Looms

SPX & NDX hit record highs and NVDA joins USD 3tln market cap club; ECB due – Newsquawk Europe Market Open

US TRADE

EQUITIES

APAC TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

CRYPTO

GEOPOLITICS

EU/UK

LATAM

China Property Stocks Tumble Into Bear Market As Beijing’s Bailout Fades

ECB Cuts Rates For The First Time Since 2019, Does Not “Pre-Commit To A Particular Rate Path”

Sweden Introduces Draconian ‘Security Zone’ In Gang-Crime Hotspot, Indiscriminate Police Powers To Search Anyone

Mass Immigration & Decline In Security Intrinsically-Linked, Say Majority Of French

Antifa Thug Attacks AfD Politician With A Knife In Germany

Israel Signs $3BN Deal With US For 25 F-35 Stealth Jets

US Warns Netanyahu Against Major Offensive In Southern Lebanon

‘Horrific Images’: Over 40 Killed At UN Gaza School That IDF Says Was Used By Hamas

US Ramps Up Rate Of Ukraine Arms Packages… What’s Another $225 Million?

Russian Warships Steam For Caribbean As Ukraine Tensions Go Global

NATO Kicks Off Massive Baltic Drills As Biden Affirms US Weapons ‘Now Being Used Inside Russia’

Entire COVID TASK FORCE was an inept clown car show, morons save Giroir, all they did was MADE UP, fake, unscientific, Atlas & I were pounding on inside but the nation had dolts, corrupt, incompetent

idiots on stage daily & we told Trump do not speak, let the morons WEAR it, but he has now learnt, these people were academically sloppy, intellectually lazy, non-sensical, stupid & hurt Trump & USA

Of Sweden and Rape & the curious case of why the media covers it up & pretends; so I will tell you! Sweden & many Nordic European nations are RAPE capitals due to the medieval islamist jihadists

no, it is not Hindu doing the raping, or Christian, or Jews, it is radical 6th century medieval muslim islamist jihadists, yes, military aged islamist males (like what Obama & Biden gave to America)

Malmö, Sweden, a very dangerous place, many ‘NO-GO’ zones where police even cannot enter, over-run by islamist jihadist shariah gangs. That is what Obama and Biden have sought to do to America.

Market Pancakes As Nvidia Gamma Squeeze Fizzles, Attention Turns To Jobs, Global Easing Cycle

Initial Jobless Claims Rise Near 8-Month Highs

Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens

“He’s Not The Same Person”: Biden Allies Freak After WSJ Blasts “Slipping” Brain

White House Responds

“A Blatant Lie”: The Biden Campaign Falsely Accuses Fox’s John Roberts Of Lying About The Insulin Caps

“Biden Knew”: Hunter, James Biden Slapped With Criminal Referrals Over “Influence Peddling Schemes”

Report: J6 Committee Delayed Secret Service Driver From Refuting False Limo Story

CV19 Vax is Death by Government – Dr. Sherri Tenpenny

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