I AM VERY LATE..AT DRS OFFICE FOR MOST OF THE DAY//SO I LEFT OUT MANY OF THE MAJOR STORIES FOR THE DAY..SORRY

GOLD PRICE CLOSED UP $14.30 TO $2332.20

SILVER PRICE DOWN $0.05 TO $29.51

Gold ACCESS CLOSED $233310

Silver ACCESS CLOSED: $29.54

Bitcoin morning price:$61,229 DOWN 2972 DOLLARS.

Bitcoin: afternoon price: $59,379 DOWN 4882 dollars//this huge drop is due to the nice work of the bankers

Platinum price closing UP $1.50 TO $998.10

Palladium price; UP $47.80 AT $996,20

END

SHANGHAI GOLD PREMIUM 40 DOLLARS/COMEX GOLD//JULY TO JULY

SHANGHAI GOLD (USD) FUTURES – QUOTES

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

4: 15 PM ACCESS

*CANADIAN GOLD: $3186.19 UP 8.00 CDN dollars per oz( * NEW ALL TIME HIGH 3,305.30 CDN DOLLARS PER OZ//MAY 20 2024)

*BRITISH GOLD: 1839.18 UP 2 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024

*EURO GOLD: 2173,23 UP 5.15 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16.2024)

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

EXCH: COMEX

EXCHANGE: COMEX
CONTRACT: JUNE 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,316.400000000 USD
INTENT DATE: 06/21/2024 DELIVERY DATE: 06/25/2024
FIRM ORG FIRM NAME ISSUED STOPPED

363 H WELLS FARGO SEC 30
657 C MORGAN STANLEY 30
737 C ADVANTAGE 66 2
991 H CME 4

TOTAL: 66 66
MONTH TO DATE: 30,347

ACCESS MARKET

JPMorgan stopped 0/66

FOR JUNE 2024

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 66 NOTICES FOR 6600 OZ or 0.2053 TONNES

total notices so far: 30,347 contracts for 3,034,700 Oz (94.392 tonnes)

FOR JUNE:

SILVER NOTICES: 13 NOTICE(S) FILED FOR 65,000

OZ/

total number of notices filed so far this month :1331 for 6.655 million oz

XXXXXXXXXXXXXXXXXX

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD UP $14.30 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/

: HUGE CHANGES IN GOLD INVENTORY AT THE GLD/ A STRONG 1.72 TONNES/WITHDRAWAL

/ /INVENTORY RESTS AT 831.93TONNES

INVENTORY RESTS AT 831.93 TONNES

SLV//

WITH NO SILVER AROUND AND SILVER DOWN $0.05 AT THE SLV//

HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A HUGE WITHDRAWAL OF 2.104 MILLION OZ FO SILVER FROM THE SLV//

// INVENTORY DECREASES TO 432.835 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 432.835 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A STRONG SIZED 829 CONTRACTS TO 174,749 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SURPRISING STRONG SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR HUGE LOSS OF $1.15 IN SILVER PRICING AT THE COMEX ON FRIDAY’S TRADING ON SILVER. WE HAD ZERO LONG LIQUIDATION AS WE HAD A NET GAIN OF 879 CONTRACTS ON OUR TWO EXCHANGES. WE, AGAIN HAD SHORT COVERING BY OUR SPECS WITH THE STRONG LOSS IN PRICE AS WELL AS MASSIVE T.A.S. LIQUIDATION. WE HAD ANOTHER HUMONGOUS SIZED 1375 T.A.S ISSUANCE,

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 TUESDAY JUNE 4 AND AGAIN ON FRIDAY, JUNE 7

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 1375 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $1.15) BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS WE DID HAVE A HUGE SIZED GAIN OF 879 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE HUGE LOSS IN PRICE OF $1.15.

WE MUST HAVE HAD:

A HUMONGOUS SIZED 1708 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.830 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 5,000 OZ QUEUE JUMP.

//NEW STANDING FOR SILVER//JUNE IS THUS 6.690 MILLION OZ

WE HAD:

/ STRONG SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1375 CONTRACTS)/

I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 619 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 15 DAYS, total 16,257 contracts: OR 81.285 MILLION OZ (1084 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR: 81.285 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 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 81.285 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 829 CONTRACTS DESPITE OUR STRONG LOSDS IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 1375 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 5,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR JUNE 6.690 MILLION OZ

WE HAVE A HUGE SIZED GAIN OF 879 OI CONTRACTS ON THE TWO EXCHANGES DESPITED THE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUMONGOUS SIZED 1375 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX RAID/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND ZERO NET LIQUIDATION OF LONGS.

THE NEW TAS ISSUANCE FRIDAY NIGHT (1375) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .

WE HAD 13 NOTICE(S) FILED TODAY FOR 65,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 3,444 OI CONTRACTS TO 453,979 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 1422 CONTRACTS

WE HAD A FAIR SIZED DECREASE IN COMEX OI (3444 CONTRACTS) OCCURRED WITH OUR LOSS OF $37.40 IN PRICE/FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JUNE AT 89.94 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 6200 OZ QUEUE JUMP AS BANKERS SCOUR THE PLANET LOOKING FOR GOLD ON THE THIS SIDE OF THE POND

NEW STANDING 94.747 TONNES// ALL OF THIS HAPPENED WITH OUR $37.40 LOSS IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A TINY SIZED LOSS OF 397 OI CONTRACTS (1.235 PAPER TONNES) ON OUR TWO EXCHANGES.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3047 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 453,979

IN ESSENCE WE HAVE A SMALL SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 397 CONTRACTS WITH 3,444 CONTRACTS DECREASED AT THE COMEX// AND A FAIR SIZED 3047 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 397 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1627 CONTRACTS,,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3047 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI OF 3444 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 397 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 QUEUE JUMP OF 0.1928 TONNES

//NEW STANDING /JUNE 94.553 TONNES.

/ 3) HUGE T.A.S. LIQUIDATION OF CONTRACTS WITH MINOR NET LONG SPECS BEING CLIPPED,

4) HUGE SIZED COMEX OPEN INTEREST GAIN 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1375 CONTRACTS//

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

JUNE

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: 46,746 CONTRACTS OR 4,674,600 OZ OR 145.39 TONNES IN 15 TRADING DAY(S) AND THUS AVERAGING: 3116 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 15 TRADING DAY(S) IN TONNES 145.39 TONNES

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

THUS EFP TRANSFERS REPRESENTS 145.39 DIVIDED BY 3550 x 100% TONNES = 4.09% 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 145.39 tonnes HEADING FOR A STRONG MONTH BUT LESS THAN THE THREE PREVIOUS MONTHS

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 FELL BY A STRONG SIZED 829 CONTRACTS OI TO 174,749 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1708 CONTRACTS

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

JULY 1708 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1708 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 829 CONTRACTS AND ADD TO THE 1708 E.FP. ISSUED

WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 879 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 6.690 MILLION OZ

OCCURRED DESPITE OUR HUGE $1.15 LOSS IN PRICE …..

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING/SUNDAY NIGHT

SHANGHAI CLOSED DOWN 35.04 PTS OR 1.17% //Hang Seng CLOSED UP 0.81 PTS OR 0.00%// Nikkei CLOSED UP 208.18 OR 0.54%//Australia’s all ordinaries CLOSED DOWN 0.81%///Chinese yuan (ONSHORE) closed UP TO 7,2595 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2833/ Oil DOWN TO 80.96 dollars per barrel for WTI and BRENT DOWN AT 85.42 /Stocks in Europe OPENED ALL GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3 CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 3,444 CONTRACTS TO 453,079 WITH OUR STRONG LOSS IN PRICE OF $37.40 WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUGE T.A.S. LIQUIDATION ON FRIDAY’S RAID WITH MINOR 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 3047 EFP CONTRACTS WERE ISSUED: : AUGUST 3047 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3047 CONTRACTS.

ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A TINY SIZED TOTAL OF 397 CONTRACTS IN THAT 3047 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 3,444 COMEX CONTRACTS..AND THIS TINY SIZED LOSS ON OUR TWO EXCHANGES HAPPENED DESPITE OUR STRONG LOSS IN PRICE OF $37.40/FRIDAY COMEX

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A GOOD SIZED 1627 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. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN FRIDAY’S RAID

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JUNE (94.747 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; 94.747 TONNES. THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $37.40 //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A TINY SIZED LOSS OF 397 CONTRACTS ON FRIDAY ON OUR TWO EXCHANGES ACCOMPANYING THE STRONG LOSS IN PRICE. THE T.A.S. ISSUED ON FRIDAY NIGHT WILL BE “PUT INTO THE BANK” TO BE USED AT A LATER DATE AT THE COLLUSIVE CHOOSING OF OUR BANKERS.

WE HAVE LOST A TOTAL OI OF 1.235 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JUNE (89.94 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 62 CONTRACTS OR 6200 OZ (0.1928 TONNES)

NEW STANDING FOR JUNE: 94.747 TONNES

ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $37.40

WE HAVE REMOVED 1422 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL

NET LOSS ON THE TWO EXCHANGES 397 CONTRACTS OR 39700 OZ (1.235 TONNES)

confirmed volume FRIDAY 203,257 contracts//fair

//speculators have left the gold arena

JUNE 24 JUNE GOLD CONTRACT

/ /// THE JUNE 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers* Inventory in oz*	nil
Withdrawals from Customer* Inventory in oz*	NIL .
Deposit to the Dealer* Inventory in oz*	0 oz
Deposits to the Customer* Inventory, in oz*	nilOZ
No of oz served (contracts) today	66 notice(s) 6600 OZ 0.2053 TONNES
No of oz to be served (notices)	114 contracts 11400 OZ 0.3545 TONNES
Total monthly oz gold served (contracts) so far this month	30,347 notices 3,034,700 oz 94,392 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 0 customer deposit:

customer withdrawals: 0

TOTAL WITHDRAWALS NIL

Adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JUNE

For the front month of JUNE we have an oi of 180 contracts having LOST 78 contracts. We had 140 contracts served on Friday so we gained 62 contracts or 6200 oz additional ounces will stand for gold at the comex as they underwent a queue jump to take delivery on this side of the pond.

JULY GAINED 46 CONTRACTS TO STAND AT 2457

AUGUST LOST 3986 CONTRACTS DOWN TO 365,821 CONTRACTS

We had 66 contracts filed for today representing 6600 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 66 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account

To calculate the INITIAL total number of gold ounces standing for June /2024. contract month, we take the total number of notices filed so far for the month (30,347) x 100 oz ) to which we add the difference between the open interest for the front month of JUNE (180 CONTRACTS) minus the number of notices served upon today (66 x 100 oz per contract( equals 3,046,100 OZ OR 94.747 TONNES.

thus the INITIAL standings for gold for the JUNE contract month: No of notices filed so far (30,347 x 100 oz +we add the difference for front month of June (180// , OI} minus the number of notices served upon today (66) x 100 oz which equals 3,046,100 oz (94.747 TONNES)

TOTAL COMEX GOLD STANDING FOR JUNE: 94.747 TONNES WHICH IS ABSOLUTELY HUGE FOR THIS VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. JUNE IS TRADITIONALLY THE 2ND HIGHEST DELIVERY MONTH OF THE YEAR. FROM THIS POINT WE WILL GAIN IN GOLD TONNAGE WILLING TO STAND AT THE COMEX

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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: 1,682,975.981 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,576,275 OZ

TOTAL REGISTERED GOLD 7,811,970( 242.985 tonnes). cme CORRECTED

TOTAL OF ALL ELIGIBLE GOLD: 9,724,307.266 OZ

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,128,995 oz (REG GOLD- PLEDGED GOLD)= 190.63 tonnes //this is the lowest net registered in quite some time.

END

SILVER/COMEX

JUN 21/2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers* Inventory*	NIL oz
Withdrawals from Customer Inventory	nil oz .
Deposits to the Dealer* Inventory*	nil OZ
Deposits to the Customer Inventory	600,014,690 oz CNT
No of oz served today (contracts)	13 CONTRACT(S) (65,000 OZ)
No of oz to be served (notices)	7 contracts (0.035 million oz)
Total monthly oz silver served (contracts)	1331 Contracts (6.655 MILLION oz)
Total accumulative withdrawal of silver from the Dealers* inventory this month*	NIL oz
Total accumulative withdrawal of silver from the Customer* inventory this month*

i) 0 dealer deposit

total dealer deposit : nil oz

i) We had 0 dealer withdrawal

total dealer withdrawals: 0 oz

We had 1 customer deposits:

i) Into CNT 600,014.690 oz

total customer deposit 600,014.690oz

JPMorgan has a total silver weight: 127.832million oz/297.415million or 42.70%

adjustment: 0

Comex withdrawals: 0

total withdrawal: nil 0z

TOTAL REGISTERED SILVER: 63.429MILLION OZ//.TOTAL REG + ELIGIBLE. 296.815

million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JUNE:

silver open interest data:

FRONT MONTH OF JUNE/2024 OI: 20 CONTRACTS HAVING LOST 2 CONTRACT(S).

WE HAD 3 NOTICES SERVED UP ON FRIDAY, SO WE GAINED 1 CONTRACTS OR AN ADDITIONAL 5,000 OZ WILL STAND AT THE COMEX VIA A SMALL QUEUE JUMP TO WHERE THEY WILL TAKE DELIVERY ON THIS SIDE OF THE POND

JULY SAW A LOSS OF 9769 CONTRACTS DOWN TO 51,415

AUG, SAW A GAIN OF 241 CONTRACTS TO 622

SEPT SAW A GAIN OF 8023 CONTRACTS TO 102,209

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 13 for 65,000 oz

CONFIRMED volume; ON FRIDAY 139,701 HUMONGOUS /EQUALS 87% OF YEARLY SILVER PRODUCITON.

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 1331 x 5,000 oz = 6.655 MILLION oz

to which we add the difference between the open interest for the front month of JUNE ((20) and the number of notices served upon today 13 x (5000 oz) equals the number of ounces standing.

Thus the standings for silver for the JUNE/2024 contract month: 1331 notices served so far) x 5000 oz + OI for the front month of JUNE (20)x number of notices served upon today minus (13)x 5000 oz of silver standing for the JUNE contract month equates to 6.690 MILLION OZ.

New total standing: 6.690 million oz.

There are 63.429 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 24 WITH GOLD DOWN $14.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 1.72 TONNES OF GOLD

/NEW TOTAL TONIGHT 831.93 TONNES

JUNE 21 WITH GOLD DOWN $37.40 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A MAMMOTH 8.34 TONNES OF GOLD VAPOUR DEPOSIT/NEW TOTAL TONIGHT 833.65 TONNES

JUNE 20 WITH GOLD UP $23.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES

JUNE 18 WITH GOLD UP $17.25 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES

JUNE 17 WITH GOLD DOWN $18.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.03 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 825.31 TONNES

JUNE 13 WITH GOLD DOWN$35.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.89 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 830.78 TONNES

JUNE 12 WITH GOLD UP $28.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/: /A WITHDRAWAL OF 4.89 TONNES OF GOLD FROM THE GLD////NEW TOTAL TONIGHT 830.78 TONNES

JUNE 11 WITH GOLD DOWN $0.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/: / //NEW TOTAL TONIGHT 835.67 TONNES

JUNE 10 WITH GOLD UP $2,00 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A WITHDRAWAL OF 1.44 TONNES OF GOLD FROM THE GLD//: / //NEW TOTAL TONIGHT 835.67 TONNES

JUNE 7 WITH GOLD DOWN $64.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 3.56 TONNES OF GOLD INTO THE GLD//: / //NEW TOTAL TONIGHT 837.11 TONNES

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

GLD INVENTORY: 833.65 TONNES, TONIGHTS TOTAL

SILVER

JUNE 24. WITH SILVER DOWN $0.05//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 2.104 MILLION OZ FROM THE SLV.// /INVENTORY LOWERS TO 432.835 MILLION OZ.

JUNE 21. WITH SILVER DOWN $1.15//NO CHANGES IN SILVER INVENTORY’// /INVENTORY REMAINS AT 434.935 MILLION OZ.

JUNE 20. WITH SILVER UP $1.17//HUGE CHANGES IN SILVER INVENTORY’ A DEPOSIT OF 5.164 MILLION OZ INTO THE SLV/// /INVENTORY RISES TO 434.929 MILLION OZ.

JUNE 18. WITH SILVER UP $0.21//NOCHANGES IN SILVER INVENTORY’ A WITHDRAWAL .730 MILLION OZ INTO THE SLV/// /INVENTORY FALLS TO 429.775 MILLION OZ.

JUNE 17. WITH SILVER UP $0.21//SMALL CHANGES IN SILVER INVENTORY’ A WITHDRAWAL .730 MILLION OZ INTO THE SLV/// /INVENTORY FALLS TO 429.775 MILLION OZ.

JUNE 14. WITH SILVER DOWN $0.10//NO CHANGES IN SILVER INVENTORY/ /INVENTORY REMAINS AT 429.083 TONNES

JUNE 13. WITH SILVER DOWN $1.10//HUGE CHANGES IN SILVER INVENTORY/ A HUGE DEPOSIT OF 1.958 MILLION OZ/INVENTORY RISES TO 429.083 TONNES

JUNE 12 WITH SILVER UP $0.97 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 5.983 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 427.125 MILLION OZ

JUNE 11 WITH SILVER DOWN $0.59 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 1.644 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 422.786 MILLION OZ

JUNE 10 WITH SILVER UP $0.30 TODAY: HUGE CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 3.198 MILLION OZ INTO THE SLV// INVENTORY RISES TO ; 421.142 MILLION OZ

JUNE 7 WITH SILVER DOWN $1.93 TODAY: NO CHANGES IN SILVER INVENTORY: //A HUGE DEPOSIT OF 2.649 MILLION OZ INTO THE SLV// INVENTORY AT 417.944 MILLION OZ

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

CLOSING INVENTORY 434.935 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY

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

Von Greyerz: As Dominoes Fall, Gold Will Stand Stronger Than Ever

SATURDAY, JUN 22, 2024 – 11:40 AM

Authored by Egon von Greyerz via VonGreyerz.gold,

At the end of a monetary era a number of dominoes will keep falling, initially gradually and then suddenly as Hemingway explained when asked how you go bankrupt.

Some of the important dominoes the world will see falling are: Political, Geopolitical, Currency, Debt and Investment Assets.

The consequences will be unthinkable – Social Unrest, War, Hyperinflation, Deflationary Implosion of Assets, Debt Defaults and much more.

But when things settle down, there will also be offsetting forces such as the emergence of powerful BRICS nations often backed by commodities.

Gold will play a major role during this process. Both central banks, sovereign wealth funds and investors will turn to gold as the most stable part of a crumbling system. This will lead to a fundamental revaluation of gold. As more gold cannot be produced, increased demand can only be satisfied by higher prices.

The likely result will be a revaluation of gold by multiples.

FALL OF THE LEADERSHIP DOMINO

Inept leaders and lack of statesmen are the typical prerequisites for these periods and thus one of the falling dominoes.

I have always argued that a country gets the leaders it deserves.

As we get to the end of one of the worst periods in history, both financially and morally, weak leadership exists in most major Western economies.

So, let’s look at the motley crew of world leaders and their unpopularity.

Political leaders will not only be thrown out at elections but also before their period is finished.

The recent European election is a typical example of a failed system. Most ruling parties are being rejected and in many cases parties on the right gain popularity.

Just look at the picture above from the recent G7 meeting in Italy. With the exception of Italy’s Meloni, the remaining G7 leaders have disapproval ratings of 57% to 72%.

With elections in the UK & France this year, the ruling parties are guaranteed to lose. The French Presidential election is not until 2027 so Macron could be a lame duck for 3 more years. The French people are unlikely to accept that and might force him out before then.

Whoever is elected in France, the powerful trade unions are likely to bring the country to a halt.

UK’s Sunak is one of Britain’s most ineffective leaders in history. But the new Labour Prime Minister, Kier Starmer was not even seen to stand a chance 2-3 years ago. He will not be voted in, but Sunak will be voted out by the people. Next will be a very dark period in UK history with high taxes, high debt, poor leadership and political instability and hard times.

The US situation today is even worse, with a president who seems incapable of taking any decisions. Instead, the US is led by an unelected and unaccountable group of neocons who tell the president what to say and what to do. But even that is difficult for Biden to execute. Just his recent appearance in Italy at the G7 meeting confirms that.

He can obviously not be blamed for being senile. But he should no longer have the ultimate power.

The US election is likely to be a disaster. Looking at the poor health of Biden, it is unlikely that he will stand for re-election in November. Kamala Harris will clearly not stand for election. It would not be surprising to see Hillary Clinton ushered in as the Democratic candidate. Although Trump is loved by around half of the people, he is hated by the other half and thus a very divisive choice. And a rerun of the Clinton – Trump election could easily lead to trouble or insurgence in the US whoever wins.

Germany’s Scholz’ coalition might not make it to the 2025 election due to its unpopularity and the decline of the German economy.

In summary, the political stage will be a total mess in coming years and lack of strong leadership will not only bring political unrest but also social unrest.

FALL OF THE CURRENCY & DEBT DOMINOES

The currency domino has been falling ever since Nixon closed the gold window in 1971.

With high spending and deficits on top of Debt to GDP above 100% in many nations, the West in particular is facing a very dark period with galloping debt growth and collapsing currencies.

This will lead to debt defaults, bank defaults, more printing, higher interest rates and still higher deficits.

All currencies will accelerate their debasement process.

In such a scenario, there will be no winner. It is possible that the dollar due to demand will be slightly stronger than other Western currencies at least for a period.

But a temporary relative strength of the dollar should be totally ignored. There is no prize for coming 2nd or 3rd to the bottom. All currencies will lose dramatically in real terms which means against gold.

We must remember that we are now in the final collapse of the current monetary system. Since 1971 all currencies have lost 97-99% in real terms which means GOLD!

The final 1-3% fall (100% from now) will take place in the next 3-8 years. So, yet another currency system will be laid to rest.

This one lasted since 1913 so a bit over a century. Its demise was predestined the day it was born. It was only a matter of time. As always in history, the consequences will be much more far reaching than just the death of Money.

Debt and currency collapses happen hand in hand. They are partners in crime and are the inevitable consequence of sustained government deficit spending.

After a period of unlimited currency printing, the financial system will fail partly or totally.

Political and social unrest also follows, possibly civil war.

Governments under economic pressure normally start a war or escalate an existing one to divert the attention from domestic problems. A war is also a good excuse for printing more money.

FALL OF THE ASSET DOMINO

Initially there will be high inflation, possibly hyperinflation and high interest rates. Thereafter as the system implodes, inflated asset prices in stocks, bonds, property etc will crash by 50-100% in real terms.

Most sovereign bonds (if they are printed) will serve best as wallpaper.

I rate the chances of this chain of events taking place as very high, especially in the West.

Financial, economic, political and social collapses of this kind are nothing new as they have happened throughout history, albeit not on a scale of this magnitude.

FALL OF THE NUCLEAR WAR DOMINO

Will we have a nuclear war?

We obviously don’t need to worry about this option since if we have a global nuclear war, there will be very few, if any, people left on earth.

As the world potentially moves as close to a nuclear war as it can without starting one, we must ask ourselves, WHO IS RUNNING THE WORLD?

Well, no one individual of course. But the US leadership is probably the main contender when it comes to dictating, at their whim, to any country in the world.

This can be starting wars in a country which is no threat to the US. It can be controlling the global financial system through the dollar or regulating the banking system via edicts like FATCA requiring the world to report any dollar transaction to the US authorities. It can also involve coups in countries which the US leadership finds unacceptable or even eliminating enemies.

It can be sanctions or freezing of assets against countries whose actions the US leadership disapprove. The list is endless.

What is interesting is that the US people never has a say in any of these decisions. All the actions above and many more are taken by the US president and his advisors with zero accountability to the people.

None of that would be possible in for example Switzerland where people power rules through direct democracy.

What the world should ask itself is: How does it solve the extremely serious situation the world is in?

I am not talking about the Ukrainian war which, as Trump has indicated, could be stopped within a few days if the US stopped sending weapons and money to Ukraine.

Putin recently made it clear that what Russia wants is to keep the Russian speaking areas of Eastern Ukraine and no NATO membership for Ukraine. But no one is interested in exploring this.

Instead, there has just been a peace conference in Switzerland where neither Russia nor China was present. Such a conference is a total waste of time and money.

Without two of the mightiest military and economic powers on earth, one of which (Russia) is directly involved in the war, this conference will achieve absolutely nothing.

This is just posing for the cameras with a bland meaningless statement at the end.

So instead of these useless conferences, the leaders of China, Russia and the USA should get together to end the Ukraine war and then tackle the real problems facing the world like poverty, famine, crime, drugs, debt etc, etc.

Imagine what the combined brain power and resources of these countries could achieve assisted by many more nations.

But sadly, that is a dream that is unlikely to be realised.

Much easier to print money and start a war rather than to find REAL and sustainable solutions to the major global problems that the world is facing.

So, world leaders have a choice – pick up the phone and talk to your fellow leaders or start a war.

What sane leader would choose nuclear war before a small loss of ego and peace?

WEALTH PRESERVATION FOR FINANCIAL SURVIVAL

So, what can investors do to protect themselves?

Some DONT’S are obvious, like:

Don’t keep most of your wealth in a fragile banking system whether in cash or in securities –

With many banks likely to default, it might take too long before your assets are released, if ever!

Bail ins or forced investments are likely in government securities at low interest rates and for extended periods like 10 years or more.

Don’t hold sovereign bonds –

Many governments will default.

Don’t bet on inflation reducing your debt –

High interest rates or indexation of loans might make it impossible to repay borrowings.

Don’t forget that stocks have been inflated by massive credit expansion which will end.

The list of don’ts in the biggest global debt and asset bubble in history and is of course endless.

So, some DOs could be more useful –

Do hold a lot of physical gold and some physical silver in safe jurisdictions like Switzerland and possibly Singapore outside the banking systems –

Precious metals must be held in very safe non-bank vaults, in your name with direct access to the metals.

To minimise confiscation or freezing of your metals, best to keep them outside your country of residence.

Hold a meaningful amount of physical gold and silver –

Most of our clients who are HNW wealth preservation investors have more than 20% of their investment assets in gold and with a smaller percentage in silver due to its volatility.

Gold is up 9-10x in this century in most currencies, still.

THE REAL MOVE IN GOLD AND SILVER HASN’T STARTED YET

The move away from the dollar as the global trading currency is likely to accelerate over the next few years.

BRICS countries are whenever possible settling bilateral trading in their local currencies with gold as the ultimate settlement money. This will be a gradual move away from the dollar. At some point the move will accelerate as the need for trading via another nation’s currency will be seem superfluous, especially since final settlement can be in gold.

As I have made clear many times, the US confiscation of Russian assets will lead to central banks no longer holding dollar reserves but instead gold will be the only acceptable reserve asset.

The move by Central Banks to gold as a reserve asset will lead to a fundamental revaluation of gold over the next few years to a price which will be multiples of the current price.

The major increase in demand can only be satisfied by higher prices and not by more gold since the world cannot produce more than the current 3,000 tonnes p.a.

In my 55-year working life I have experienced 2 major bull markets in Gold.

The first one was from 1971 to 1980 with gold up 25X from $35 to $850.

The second one started in 2001 at $250 and has only started a move which will reach multiples of the current price.

But my 55 years of gold history is just over 1% of the long-term bull market in gold.

Since the emergence of the fiat money system, the gold bull market is sadly more a reflection of governments’ mismanagement of the economy leading to ever growing deficits and debts. In such a system, the price of gold mainly reflects the chronic debasement of paper money.

Governments and central banks are gold’s best friend.

They have without fail always destroyed the value of fiat money, by debasing the currency through deficit spending and debt creation.

For example, in the Roman Empire around 180 to 280 AD the Denarius Silver coin went from almost 100% silver content to 0%, replacing the silver with cheaper metals.

This obviously leads to the question, why should anyone hold fiat or paper money?

Well, in a sound economy with no deficits, virtually no inflation and a balanced government budget, holding cash that yields an interest return is absolutely fine.

But the world has not experienced such Shangri-La times since 1971 when Nixon closed the gold window.

Still, even at $2,320 today, gold in relation to money supply is as cheap as in 1970 when it was $35 or in 2000 when the gold price was $300.

WEALTH PRESERVATION AND LIFE’S PRIORITIES

With the falling of the dominoes outlined above, most people in the world will experience a lot more hardship than currently.

For anyone with savings, whether it is $100 or $100 million, wealth preservation should be a top priority. Gold and some silver in physical form safely stored outside the banking system should be an absolute priority.

As we encounter difficult times, helping family and friends is more important than anything else. This will be extremely important in order to deal with the trials which we will all encounter.

And please don’t forget that in addition to family and friends, some of the best things in life are free such as nature, books, music and hobbies.

end

ALASDAIR MACLEOD…

That Farage statement about Ukraine

Nigel Farage said that the West provoked Russia’s invasion of Ukraine, and the Westminster village and mainstream media have condemned him for it. Why did he say it?

ALASDAIR MACLEODJUN 22∙PAID

READ IN APP

Farage has created uproar in the establishment with his comments about Ukraine. Politicians from all significant parties have condemned him, when all the evidence is that he is right. He refuses to withdraw his remarks.

How this plays out in electoral terms will be interesting. My guess is that after two years there is a weariness in the UK about Ukraine’s war, which seems to be going nowhere. Being the only politician prepared to state what many voters are thinking might garner some support for him, particularly given the unity between a failed Conservative Party and an unconvincing Labour.

This is all local stuff. More interesting is that Farage and Trump are buddies, sharing their views on many topics. Could it be that the Donald shares Nigel’s opinion on Ukraine? I think the answer is very likely to be yes. If he is elected, this could change the dynamics of the war from Russia’s viewpoint.

This leaves the position of the Deep State. Having got rid of Trump back in January 2021, it looks like he will be re-elected this time — though most recent poling has him neck and neck with Biden. But Trump has had time to brood about who his real enemies in the Deep State are, and Trump will not be so easily manoeuvred by them. Anyway, it could be that the Deep State would rather abandon the Ukraine project now because it is going Russia’s way. It appears to be Biden and his team trying to hang on and not willing to face defeat in this election year.

Putin has to decide whether by escalating his special military operation it will undermine Biden, or get American voters to rally round Biden. It’s a tough call. Get it right and see Trump elected, and its back to US following isolationist policies on trade and foreign affairs. Get it wrong and perhaps Biden gets re-elected (or a last minute Democrat shoe-in). But even if Biden does get re-elected, perhaps the deep state has had enough.

On balance, it’s probably best for Putin to go for victory sooner rather than later, given the Europeans are still divided.

end

CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

Maguire, Macleod discuss monetary metals’ future on ‘Live from the Vault’

Submitted by admin on Sat, 2024-06-22 22:11 Section: Daily Dispatches

10:11p ET Saturday, June 22, 2024

Dear Friend of GATA and Gold (and Silver):

GoldMoney research director Alasdair Macleod is the guest on this week’s edition of Kinesis Money’s “Live from the Vault” program with London metals trader Andrew Maguire.

They discuss Russia’s defeat of Western economic sanctions, the world’s diminishing fear of the United States, the possibility of de-facto gold standards in Asia, the prospects for a gold-related BRICs currency, the heavy involvement of China and India with gold, whether silver will outperform gold, and bitcoin.

The discussion is an hour and 15 minutes long and can be viewed at YouTube here:

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

end

Official gold data is no good, GATA secretary tells Soar Financially’s Kai Hoffman

Submitted by admin on Tue, 2024-06-18 16:41 Section: Daily Dispatches

4:40p ET Tuesday, June 18, 2024

Dear Friend of GATA and Gold:

In a discussion last week with Kai Hoffman of Soar Financially, your secretary-treasurer dismissed reports that the People’s Bank of China had “stopped” buying gold insofar as it reported not buying any in May for the first time in many months.

Official gold reserve information is unreliable, your secretary-treasurer said, providing several major examples of how it has been falsified over the years.

The true location, size, and disposition of official gold reserves, your secretary-treasurer said, are actually the most sensitive state secrets, and GATA consultant Robert Lambourne’s monthly exposure of the gold swap position of the Bank for International Settlements shows that at least one central bank is still striving to keep the gold price down.

The discussion is 35 minutes long and can be viewed at YouTube here:

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

* * *

end

4. OTHER MAJOR GOLD COMMENTARIES/PODCASTS/

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

END

6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/

END

ASIA TRADING//MONDAY MORNING/SUNDAY NIGHT

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM

ONSHORE YUAN: CLOSED UP TO 7.2595

OFFSHORE YUAN: DOWN TO 7.2833

SHANGHAI CLOSED DOWN 34.04 PTS OR 1.17 %

HANG SENG CLOSED UP 0.81 PTS OR 0.00%

2. Nikkei closed UP 208.18 PTS OR 0.54 %

3. Europe stocks SO FAR: ALL GREEN

USA dollar INDEX DOWN TO 105.22 EURO RISES TO 1.0731 UP 43 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.982 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 159.55 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 UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP

3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil DOWN for WTI and DOWN FOR Brent this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.4285/Italian 10 Yr bond yield UP to 3.925 SPAIN 10 YR BOND YIELD UP TO 3.315%

3i Greek 10 year bond yield UP TO 3.610

3j Gold at $2326.75//Silver at: 29.63 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 36/ 100 roubles/dollar; ROUBLE AT 88,62

3m oil into the 80 dollar handle for WTI and 85 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 159.55/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.982% 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 0.8930 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9582 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: 4.272 UP BASIS PTS…

USA 30 YR BOND YIELD: 4.411 UP 2 BASIS PTS/

USA 2 YR BOND YIELD: 4.743 UP 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 32.89…

10 YR UK BOND YIELD: 4.1280 UP 4 PTS

2a New York OPENING REPORT

Futures Flat As Nvidia Slides For Third Day

MONDAY, JUN 24, 2024 – 08:21 AM

Futures are flat, set for a muted open after erasing an earlier drop, and trading at record highs after three straight weeks of gains ahead of key inflation data later this week and the first debate between Joe Biden and Donald Trump, as well as the first round of the French snap elections. At 8:15am, S&P futures were unchanged while Nasdaq futures dropped 0.1% pressured by a 3% fall in Nvidia, which was set to extend losses for a third consecutive session, and poised to wipe out another $70 billion in market capitalization after news that ByteDance and Broadcom were discussing collaborating on a potential AI superprocessor. Bond yields are higher, and the Bloomberg Dollar Spot Index falls 0.2% after a five-week rally. Over the weekend, macro catalysts were relatively quiet. Oil prices have calmed after a drop last week, while iron ore futures sunk amid further fears about a recovery in the Chinese property market. Bitcoin tumbled on a report the MtGOX trustee will begin $9 billion in repayments in July. This week, traders will be focused on the release of the Fed’s favored inflation gauge, the core PCE, which is expected to show the slowest advance since late last year and open the door to possible interest rate hikes. Other key events include the first presidential debate on Thursday and earnings from Fedex (Tue), Micron (Wed) and Nike (Thu).

In premarket trading, megacap tech are mixed: GOOG/L +19bp, META +85bp; meanwhile, NVDA -96bp, TSLA -30bp; MU +68bp ahead of Wednesday’s earnings. Among single stocks, ByteDance and Broadcom have discussed a potential collaboration on an AI processor to help bolster the TikTok parent’s development of that technology Reuters reported. Here are some other notable premarket movers:

Alnylam Pharmaceuticals’ (ALNY) soars 36% after the company said its heart drug vutrisiran succeeded in a late-stage trial.
Altimmune (ALT) rises 11% after the drug developer presented data from a mid-stage trial of its experimental obesity drug, pemvidutide.
Cryptocurrency-linked companies fell as Bitcoin extended losses amid cooling demand for the largest digital asset’s exchange-traded funds and uncertainty over monetary policy. Coinbase (COIN) -3.4%, Marathon Digital (MARA) -3.9%. Riot Platforms (RIOT) -3.5%,
Nvidia (NVDA) slips 1.8%, with the stock set to extend losses for a third consecutive session, after already erasing over $220 billion in market capitalization.
ResMed (RMD) sinks 11% as Citi downgrades the breathing-machine maker following additional clinical data from Eli Lilly that showed its weight-loss drug tirzepatide reduced the severity of obstructive sleep apnea.
RXO (RXO) jumps 14% after agreeing to buy UPS’s asset-light freight brokerage business.
Trump Media & Technology Group (DJT) advances 7% following an announcement late Friday that the firm expected to receive more than $69.4 million in proceeds from the cash exercise of warrants last week.

According to the latest Bloomberg Markets Live Pulse survey, the gains for the S&P 500 this year have likely peaked, with investors growing increasingly nervous on rich valuations in the stock market. One of the driving forces of the rally, Nvidia, is the most expensive stock in the index now. However, analysts and executives are struggling to quantify what its sales will actually be given the AI boom, making it hard to calculate whether the shares are pricey or not.

While the market’s narrow breadth is concerning to some, others expect the second half of the year to see equities supported by falling rates and strength from earnings.

“Macro indicators show there was broad economic growth in the second quarter and that should translate into earnings growth,” said Patrick Armstrong, chief investment officer at Plurimi Wealth LLP. He expects this will lead into a broadening of the rally.

Meanwhile, the economy’s neutral rate — the theoretical level when borrowing costs neither stimulate nor slow growth — looks to be much higher than policymakers are currently projecting. Later this week, the Federal Reserve’s key inflation gauges will offer clues over the direction of monetary policy.

“With CPI and PPI having been better behaved recently, it is reasonable to expect PCE to continue this narrative of inflation slowly coming down,” said Wei Li, global chief investment strategist at BlackRock Investment Institute on Bloomberg TV. She expects two cuts this year.

“The expectation is we will see confirmation that inflation has slowed and that’s a development the Fed should welcome. If we get more soft inflation prints, they could well signal over the summer they will cut rates in September,” said Lee Hardman, a strategist at MUFG Bank Ltd.

Europe’s Stoxx 600 Index gained 0.4%, led by auto shares which benefited from news that China and the European Union have agreed to start talks on the bloc’s plan to slap tariffs on electric vehicle imports. Eurofins Scientific SE plunged as much as 24% in Paris after the laboratory-testing company was targeted by Carson Block’s Muddy Waters Research.

Earlier in the session, Asian stocks fell, led by declines in tech shares, as risk-off sentiment prevailed ahead of key US inflation data this week that may shape the path of the Federal Reserve’s monetary policy. The MSCI Asia Pacific Index dropped as much as 0.6%, slipping for a third session. TSMC and SK Hynix were among the biggest drags. Benchmarks in Taiwan and mainland China dropped the most, while Japanese stocks bucked the region’s slump as the yen’s recent decline supported exporters.

Hang Seng and Shanghai Comp. declined whereby the former retreated beneath the 18,000 level amid tech and property-related pressure, while the mainland index continued its descent after it recently breached the 3,000 level to the downside to print its weakest level since late February.
Nikkei 225 initially swung between gains and losses as participants digested currency weakness and renewed jawboning but eventually bucked the overall trend owing to exporter strength.
ASX 200 was led lower by the resources and mining-related sectors amid softer underlying commodity prices.

In FX, Bloomberg’s dollar index eased about 0.2%, having enjoyed a five-week rally. The other notable currency mover was the yen, which saw sharp moves around the 160 mark as Vice Finance Minister Masato Kanda said authorities are ready to intervene to support it 24 hours a day, if needed. The pair USD/JPY traded down 0.3% at 159.25 after touching 159.92 earlier

“In the event of excessive moves based on speculation, we are prepared to take appropriate action,” Masato Kanda, the nation’s top currency official, said “The market appears to be becoming less afraid of intervention now given the steadiness of the upside pressure on USD/JPY in the past two months,” Alvin Tan, head of Asia FX strategy at Royal Bank of Canada in Singapore, writes in a note. “I remain doubtful that there is a firm red line for Tokyo on USD/JPY, and new highs above 160 beckon”

In rates, Treasury yields are higher with US 10-year yields flat just shy of 4.27%. French government bonds rise, outperforming their German peers and narrowing the 10-year yield spread by ~3bps ahead of France’s snap legislative election on Sunday. Marine Le Pen’s far-right National Rally has made further gains, according to Bloomberg’s poll of polls. Options market signals that volatility on French vote is likely to last.

In commodities, oil prices advance, with WTI rising 0.5% to trade near $81.10 a barrel. Spot gold rises ~$6 to around $2,328/oz. Iron ore falls over 2% to the lowest since April.

Bitcoin and Ethereum continues to slip, with the pair both at session lows; BTC looking to test USD 61k to the downside after reports that the Mt. Gox Trustee would start Bitcoin & Bitcoin Cash repayments in July.

Looking at today’s calendar, US economic data slate includes June Dallas Fed manufacturing activity at 10:30am. Ahead this week are consumer confidence, final 1Q GDP revision, durable goods orders, personal income/spending (with PCE deflators) and University of Michigan sentiment. Fed officials scheduled to speak include Goolsbee (8:30am) and Daly (2pm)

Market Snapshot

S&P 500 futures up 0.2% to 5,543.50
STOXX Europe 600 up 0.4% to 517.05
MXAP down 0.2% to 178.94
MXAPJ down 0.5% to 564.94
Nikkei up 0.5% to 38,804.65
Topix up 0.6% to 2,740.19
Hang Seng Index little changed at 18,027.71
Shanghai Composite down 1.2% to 2,963.10
Sensex up 0.1% to 77,314.51
Australia S&P/ASX 200 down 0.8% to 7,733.69
Kospi down 0.7% to 2,764.73
German 10Y yield little changed at 2.40%
Euro up 0.2% to $1.0711
Brent Futures up 0.2% to $85.42/bbl
Gold spot up 0.4% to $2,330.22
US Dollar Index down 0.12% to 105.67

Top Overnight News

China and the EU will enter into negotiations over the tariffs Brussels plans to impose on Chinese EV imports. Nikkei
The yen traded a whisker away from the key 160 level against the dollar even as top currency official Masato Kanda said Japan is ready to intervene again at any time. IG Australia said it expects authorities to step in around 160.20. BBG
Netanyahu says the most intense fighting in Gaza is nearing an end, but the war will continue until Hamas is eliminated (and any forces removed from Gaza will be shifted to the northern border with Lebanon given the rising risk from Hezbollah). RTRS
French voters trust the far-right Rassemblement National more than any other party to manage the economy and public finances despite its unfunded tax-cutting and spending plans and lack of experience in government. FT
French polls show National Rally still in first place at ~36% followed by the left-wing New Popular Front at ~27% and Macron’s coalition at ~20%. BBG
A new French government led by Marine Le Pen’s far-right National Rally (RN) would end the decades-long practice of running high budget deficits and stick to the European Union’s fiscal rules, the party’s financial pointman told Reuters. RTRS
ICE is angling to become a central clearinghouse for US Treasuries and repo agreements ahead of new regulations. The NYSE parent is seeking regulatory approval and is in talks with the SEC. BBG
META has held talks about integrating its AI model into AAPL (Apple)’s Apple Intelligence (Apple is also talking to Google, Anthropic, and Perplexity). WSJ
Apple Intelligence will only be available on its latest and more expensive devices and won’t show up in some major markets, like China and Europe, for a while. Business Insider
EU’s Breton says they are taking further action against Apple (AAPL) to ensure compliance with the DMA, Co. has been squeezing out innovative companies and denying consumers new opportunities.
EU Regulators says Apple’s (AAPL) requirements fall short of complying with EU tech rules; open investigation into Apple on its new contractual requirements for third-party app developers and app stores; Rules breach EU tech rules prevent app developers from steering consumers to alternative offers.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were predominantly subdued heading closer to month-end and US PCE data later in the week, with sentiment not helped by Friday’s mixed performance stateside and the lack of major macro catalysts. ASX 200 was led lower by the resources and mining-related sectors amid softer underlying commodity prices. Nikkei 225 initially swung between gains and losses as participants digested currency weakness and renewed jawboning but eventually bucked the overall trend owing to exporter strength. Hang Seng and Shanghai Comp. declined whereby the former retreated beneath the 18,000 level amid tech and property-related pressure, while the mainland index continued its descent after it recently breached the 3,000 level to the downside to print its weakest level since late February.

Top Asian News

China’s MOFCOM said it resolutely objects to US planned curbs on investment in China and urged the US to lift investment restrictions on China.
China’s ByteDance and Broadcom (AVGO) are working on developing an advanced AI processor which would use 5nm technology and manufacturing would be outsourced to TSMC (2330 TT), while it would be compliant with US export restrictions, according to Reuters sources.
China’s Commerce Minister and EU Trade Commissioner agreed to launch consultations on EV tariffs, according to China’s MOFCOM. It was also reported that China’s state planner hopes that Germany will demonstrate leadership within the EU and do the correct thing, while China will take all measures to safeguard the legitimate rights and interests of Chinese companies, as well as noted that the average price of China’s main EV models overseas is higher than domestic prices.
Germany’s Economy Minister Habeck said in Shanghai that EU Commissioner Dombrovskis informed him that there will be concrete talks on tariffs with China and their goal is a level playing field between China and Germany. Habeck stated that it is good to be export-oriented but not to use subsidies for it, while he sees some options to reach an agreement but that is the task of the Commission. It was also reported that Habeck said EU tariffs are not a punishment but intend to level the playing field, while he also commented that he does not want tariffs because he believes in open markets and stated there is time for dialogue until November between the EU and China on tariffs, according to Reuters.
China is to create a fund to rescue financial companies in an effort to avert a financial crisis stemming from the property industry slump, according to Nikkei.
BoJ Summary of Opinions from the June 13th-14th meeting noted that a member said the BoJ is expected to raise the interest rate if underlying inflation rises as projected and a member said they must consider a further adjustment to the degree of monetary easing given the chance of upside risk to inflation, while there was also the that the BoJ must raise the interest rate in a timely fashion without delay in accordance to heightening chance of achieving the price target. However, one member said BoJ can wait to shift the level of interest rate until it can confirm through data a clear uptrend in inflation and inflation expectations, while a member also said it is appropriate to keep easy policy for the time being due to a lack of strength in consumption and some disruption to auto shipments.
Japanese Finance Minister Suzuki said he won’t comment on forex levels and that it is desirable for currencies to move in a stable manner reflecting fundamentals, while he added that excessive FX changes are undesirable and wants to respond appropriately as needed, while he replied no comment when asked if current FX moves are excessive.
Japan’s top currency diplomat Kanda said he won’t comment on daily forex levels and will take appropriate steps if there is an excessive forex move, while he added there is no impact at all from the US report on forex monitoring and the US government suggests there is no problem in Japan’s forex intervention. Furthermore, he doesn’t have a specific forex level in mind and will respond to rapid forex moves by speculators but won’t comment if recent moves are excessive and said Japan is ready to intervene in the currency markets 24 hours a day if needed.
India’s Finance Minister said they are to consider GST rate rationalisation in the next GST Council meeting in August, according to Reuters.

European bourses, Stoxx 600 (+0.5%) are entirely in the green, having initially opened on a tentative footing. Sentiment improved as the session progressed, though was then capped by poor German Ifo data, with indices currently just off best levels. European sectors hold a strong positive bias; Autos the clear outperformer, benefitting from EU/China consultations on EV tariffs. Retail is found at the foot of the pile, hampered by losses in Zalando (-6.6%), after a broker downgrade. US Equity Futures (ES +0.2%, NQ +0.2%, RTY +0.3%) are entirely in the green, with sentiment lifted in tandem to a pick-up in European equities. In terms of pre-market movers, Broadcom (+1.4%) gains on news that it is working with Bytedance to develop an advanced AI processor.

Top European News

Manchester Airport in the UK was affected by a major power cut on Sunday morning which caused widespread disruption and the cancellation of a quarter of total flights from the airport. It was later reported that the airport was resuming operations and it is working on rescheduling flights in the coming days, while flights scheduled on Monday should be unaffected.
Ipsos poll found that 25% of respondents had the most confidence that Marine Le Pen’s far-right RN to make the correct decisions on economic issues compared with 22% for left-wing NFP and 20% for French President Macron’s alliance, according to FT.

DXY is weaker and trading towards the bottom end of today’s 105.61-90 range, and well within the prior session’s confines. Continued pressure in the Dollar index will bring into play the low from 21st June at 105.53, with not much by way of support until the 50-DMA at 105.19.
EUR is modestly firmer and holds above 1.07, largely benefitting from broader Dollar weakness. German Ifo data fell short of expectations across the board, which sparked very modest pressure in the EUR, though it has since continued its way higher.
Cable is incrementally firmer vs the Dollar, and pivoting its 50-DMA at 1.2658. As it stands, markets have ascribed a 88% chance of a cut in September, and near-enough 2 full cuts by year-end.
USD/JPY is flat after going as high as 159.92 overnight, before edging back towards 159.75. Continued upside in the pair will make traders increasingly more alert to the risk of intervention, particularly around the 160.00 mark.
Antipodeans are both are firmer vs the Dollar, with very slight outperformance in the Aussie; AUD currently sits above its 20-DMA at 0.6639, though still some way off Friday’s best at 0.6669.
PBoC set USD/CNY mid-point at 7.1201 vs exp. 7.2647 (prev. 7.1196).

In fixed income

USTs are rangebound with a few fleeting ticks higher emerging on the German Ifo release but with just under 10 ticks to go to re-test Friday’s pre-PMI best. Fed’s Goolsbee & Daly are scheduled for later today, but this week’s focus will reside on US PCE on Friday. USTs currently trading around 110’16.
Bunds were initially contained as a particularly poor Ifo only inspired a few fleeting ticks higher in Bunds, rising to a 132.72 peak. Since, Bunds have slipped off best levels and towards session lows at 132.33, though without a clear catalyst, but in tandem with a modest pick-up in other safe-haven assets such as the JPY & CHF.
Gilts are incrementally outperforming but with specifics light. Upside potentially coming as the UK docket is devoid of catalysts and as such Gilts are taking the opportunity to pare some of Friday’s downside, whilst USTs and Bunds are mindful of this week’s key risk events/supply.

In commodities

Crude is firmer and off worst levels, having traded rangebound overnight and throughout the majority of the European morning. Brent Aug currently holding just above USD 85.50/bbl.
Precious metals are a touch firmer given the weaker USD and generally slightly soft yield environment; XAU in a USD 2317-2332/oz range, which is capped by the USD 2332/oz 21-DMA.
Base metals followed the APAC tone and were subdued/lacklustre overnight. A narrative that has dissipated in the European morning given the improved tone and USD pullback.
Iran set July Iranian light crude price to Asia at Oman/Dubai plus USD 2.60bbl, according to Reuters.
Ukraine’s Energy Ministry said a Russian air strike on Saturday attacked a Ukrainian infrastructure facility in the west and that Ukraine planned record-high electricity imports following Russia’s air strikes, according to Reuters.
Phillips 66 (PSX) reports a unit upset at the Wood River, Illinois refinery (173k BPD)

Geopolitics: Middle East

“Cairo will not restart the Rafah crossing in the presence of Israel “, via Al Arabiya citing an Egyptian source
Israeli PM Netanyahu said the phase of intense fighting against Hamas is coming to an end but added it does not mean an end to the war in Gaza and stated that once the intense phase of fighting ends in Gaza, it would allow the deployment of more forces to the northern border with Lebanon, according to Reuters.
Israeli Defence Minister Gallant headed to Washington on Sunday where he will discuss Gaza and Lebanon during his US trip, according to Reuters.
Security and political talks were reportedly underway in Israel to choose the right timing for action in the north, according to Israel’s Channel 12.
Israel reportedly conducted an air strike on a UNRWA aid centre in Gaza which killed 8 people, according to witnesses cited by the Australian Broadcasting Corporation.
US top general warned that an Israeli offensive in Lebanon could increase risks of a broader conflict that draws in Iran, according to Reuters.
Yemen’s Houthis said they carried out two military operations in the Arabian and Red Seas in which it targeted the Trans World Navigator ship in the Arabian Sea and targeted US aircraft carrier Eisenhower in the Red Sea, according to Reuters.
US Central Command said forces successfully destroyed three Iranian-backed Houthi unscrewed surface vessels in the Red Sea, while it added that Houthis launched three anti-ship ballistic missiles from a Houthi-controlled area of Yemen into the Gulf of Aden but there were no injuries or significant damage reported by US, coalition or merchant vessels.
UKMTO announced an incident 65NM west of Yemen’s Hodeidah whereby a vessel was reportedly hit by an uncrewed aerial system which resulted in damage. UKMTO also announced an incident 96NM of Yemen’s Nishtun in which a vessel was reported to have suffered flooding that cannot be contained and the crew were forced to abandon ship but have been recovered by an assisting ship.
Bahrain and Iran agreed to restart talks aimed at resuming political relations between the two countries, according to Bahrain’s state news agency.

Geopolitics: Other

Ukrainian President Zelensky said Russia used more than 2,400 guided bombs against Ukraine in June alone including 700 against Kharkiv, while he added that they need the promised defence packages without delay so that their agreements with US President Biden can be carried out, according to Reuters.
Ukraine said Russia launched an air attack on Kyiv and its region, while air defence systems engaged in repelling the attack. It was separately reported that Russian air defence systems destroyed 12 Ukraine-launched drones over Russia’s Bryansk region, according to the regional governor cited by Reuters.
Shrapnel from an intercepted US-made missile fired by Ukraine hit a beach packed with sunbathing tourists in occupied Crimea on Sunday, according to The Telegraph. It was separately reported that Russia’s Defence Ministry said that responsibility for the shelling of Crimea’s Sevastopol lies primarily with the US and that there will be a response to the shelling, according to Reuters.
EU reportedly devises a legal loophole to bypass a Hungary veto on support for Ukraine, according to FT.
South Korea, the US and Japan said Russian President Putin’s visit to North Korea triggered grave concern and they strongly condemn the deepening of North Korean and Russian military cooperation, while they will further strengthen security cooperation to counter threats by North Korea, according to South Korea’s Foreign Ministry.
US envoy for East Asia Kritenbrink said the US-Vietnam partnership has never been stronger and only Vietnam can decide how best to safeguard its sovereignty and advance its interests. Kritenbrink also commented that the current situation is deeply concerning and they will stand with Filipino allies, as well as noted that China’s actions, especially around the Second Thomas Shoal in the South China Sea have been irresponsible aggressive, dangerous and deeply destabilising. Furthermore, he said they have made it clear to Beijing that mutual defence treaty obligations the US has to the Philippines are ironclad, according to Reuters.
Philippines President Marcos said they are not in the business of instigating war and refuse to play by the rules that force them to choose sides in a great power competition, while he added they would like to settle all issues peacefully and have never yielded to any foreign power, according to Reuters.
Russia expressed “demarche” to the US envoy over the missile attack on Crimea, via Tass.

US Event Calendar

09:00: Bloomberg June United States Economic Survey
10:30: June Dallas Fed Manf. Activity, est. -15.0, prior -19.4

Central Bank Speakers

03:00: Fed’s Waller Gives Opening Remarks
08:30: Fed’s Goolsbee Interviewed on CNBC
14:00: Fed’s Daly Gives Remarks on Economy, Policy

DB’s Jim Reid concludes the overnight wrap

The French election on Sunday (part one) will be the main event this week with some indication of how it’s gone as we go to print this time next week. The opinion polls over the weekend generally saw the far-right National Rally party continuing to see their support edge up with the latest poll of polls showing support at 33%, versus the 27% for the far-left New Popular Front (NPF) and 20% for Macron’s movement. As an interesting aside one of the NPF members Eric Coquerel, who was chair of the finance committee prior to the dissolution of parliament two weeks ago, said that his party’s alliance would raise the top marginal rate of income tax to 90% if it were elected. The top rate is currently 45%. While the constitutional court may well prevent this if they were in power, it is more evidence of the potential consequences of this election.

Staying with politics, it will also be fascinating to see the first televised debate between Biden and Trump on Thursday evening in the US. There is plenty of scope for big headlines and for the candidates to gather some momentum or see it go into reverse.

In terms of data the main event is Friday’s US core PCE. Friday is a big day for inflation elsewhere as the European flash CPI is out after Tokyo CPI in Japan earlier in the day.

Other highlights this week by day are the German IFO today; US consumer confidence, Japan PPI, Canadian CPI tomorrow; US new home sales, Australia CPI and a 5yr UST auction on Wednesday ; US trade, durable goods, and a 7yr UST auction on Thursday; and with Friday bringing German unemployment, and the final UoM US consumer sentiment alongside the inflation data mentioned above. The day-by-day calendar at the end gives a fuller dairy of events.

Previewing Friday’s US core PCE deflator, our economists’ believe it should increase +0.17% (vs. +0.25% previously), which would have the effect of lowering the year-over-year rate by 12bps to 2.63%. One note of caution is that their estimate does not include the -10.2% plunge in the seasonally-adjusted PPI for international scheduled passenger air transportation. Their estimate would be about 5bps lower if the BEA does not smooth through this drop. Thus, risks are skewed to the downside which is certainly one to watch.

Moving on to European inflation, our European economists’ inflation previews Friday’s flash releases here.They expect Eurozone HICP to come in at 2.40% YoY (2.57% in May). Across countries, their forecasts are 2.4% (2.8%) for Germany, 2.5% for France (2.6%), 0.8% for Italy (0.8%), and 3.4% for Spain (3.8%).

Another thing to watch is Nvidia and tech. Nvidia became the largest company in the world on Tuesday night before Wednesday’s holiday. It then opened over 3% higher on Thursday. However from this peak it fell around -10% into Friday’s close. Is this a brief hiccup, or the start of some air being let out of the ballon? Interestingly our very prescient equity strategists have put out a note over the weekend arguing for a breather in US markets partly due to stretched positioning and a buy back black-out starting next week ahead of Q2 earnings. See their note here.

Asian equity markets are mostly trading lower this morning, with Chinese markets leading losses with the Hang Seng (-1.03%) emerging as one of the biggest underperformers while the CSI (-0.38%) and the Shanghai Composite (-0.67%) are also trading lower. Elsewhere, the KOSPI (-0.89%) is also nursing losses with the S&P/ASX 200 (-0.76%) also falling. Meanwhile, the Nikkei (+0.62%) is bucking the trend. S&P 500 (-0.11%) and NASDAQ 100 (-0.08%) futures are slightly lower.

On China-EU tariffs, trade chiefs from both sides discussed the topic on a call over the weekend and agreed to hold further consultations in the coming weeks. Provisional EU duties of up to 38.1% on imported Chinese-made EVs are set to kick in by July 4 with the tariffs set to be finalised on November 02 at the end of the EU anti-subsidy investigation.

Earlier this morning, the BOJ’ summary of opinions from its June monetary policy indicated that board discussed the possibility of raising interest rates further amid concerns over lingering inflationary pressure. Meanwhile, the Japanese yen is fluctuating in a tight range, trading fractionally higher (+0.08%) to trade at 159.66 against the dollar but is still near its weakest level in 34 years even after more verbal warnings from the top currency official Masato Kanda where he emphasised that authorities stand ready to intervene in currency markets 24 hours a day if necessary.

Now recapping last week, the S&P 500 gained +0.61%, supported by solid data releases earlier in the week, although the index slipped -0.16% on Friday. Last week’s rally was broad based, with the equal-weighted version of the S&P 500 rising +1.12% (+0.12% on Friday) and the small cap Russell 2000 gaining +0.79% (+0.23% on Friday). On the other hand, the tech-heavy NASDAQ was flat on the week (-0.18% on Friday). Nvidia led the tech underperformance, falling -4.03% (and -3.22% on Friday). The semiconductor giant briefly overtook Microsoft to become the world’s most valuable company on Tuesday, before falling back into third place at the end of the week after a difficult couple of days after Wednesday’s holiday.

The performance of US equities was subdued on Friday even as the June flash PMIs came in better-than-expected. Most notably, the flash services PMI rose to 55.1 (vs 54.0 expected), its highest level since April 2022. The manufacturing PMI also improved to 51.7 (vs 51.0 expected), bringing the composite index to 54.6 (vs 53.5 expected). This activity improvement came even as the composite output price index eased to a 5-month low of 53.5 (vs. 54.3 prev.), so the release was firmly on the soft landing side of the ledger.

The moves in European and US markets were more in line last week as the political uncertainty originating in France was better digested by markets. European equities made decent gains, with the STOXX 600 up +0.79%. The index did sell off on Friday (-0.73%), driven mostly by weaker-than-expected flash PMIs for June. The euro-area composite PMI fell to 50.8 (vs 52.5 expected), ending a run of 5 consecutive monthly gains. The story was similar for the national equity indices, as the CAC 40 and DAX rose +1.67% and +0.90% last week respectively despite a sell-off on Friday (-0.56% and -0.50%). Elsewhere, the MSCI EM index rose +0.93% (and -0.81% on Friday).

Whilst equities recovered, bonds struggled last week. The 10yr Franco-German spread widened +3.1bps on Friday (and +3.4bps last week) to 80bps, its widest since 2012, after the French left-wing alliance announced aggressive spending plans ahead of the French election. Against this backdrop, sovereign bonds lost ground across the board. 10yr bund yields rose +4.9bps, despite a -2.3bps decline on Friday following the weaker PMI release. 10yr OAT (+8.3bps), BTP (+1.2bps) and gilt (+2.7bps) yields were also higher on the week. Over the Atlantic, 10yr Treasury yields were up +3.5bps to 4.26% (-0.4bps Friday).

2B EUROPE OPENING/TRADING

Sentiment improves with equities on the front foot whilst Dollar slips ahead of Fed speak – Newsquawk US Market Open

MONDAY, JUN 24, 2024 – 06:10 AM

Equities are entirely in the green, benefiting from a pick-up in sentiment in the European session
Dollar is softer, EUR is the G10 outperformer, but was initially pressured post-German Ifo, USD/JPY around 159.60
Bonds are mixed with USTs contained, whilst Bunds slip to session lows
Crude is incrementally firmer, XAU/base metals benefit from Dollar weakness
Looking ahead, US Dallas Fed Manufacturing Business Index, Comments from ECB’s Schnabel, BoC Governor Macklem, Fed’s Waller, Goolsbee & Daly

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

European bourses, Stoxx 600 (+0.5%) are entirely in the green, having initially opened on a tentative footing. Sentiment improved as the session progressed, though was then capped by poor German Ifo data, with indices currently just off best levels.
European sectors hold a strong positive bias; Autos the clear outperformer, benefitting from EU/China consultations on EV tariffs. Retail is found at the foot of the pile, hampered by losses in Zalando (-6.6%), after a broker downgrade.
US Equity Futures (ES +0.2%, NQ +0.2%, RTY +0.3%) are entirely in the green, with sentiment lifted in tandem to a pick-up in European equities. In terms of pre-market movers, Broadcom (+1.4%) gains on news that it is working with Bytedance to develop an advanced AI processor.
Click for the sessions European pre-market equity newsflow
Click for the additional news
Click for a detailed summary

FX

DXY is weaker and trading towards the bottom end of today’s 105.61-90 range, and well within the prior session’s confines. Continued pressure in the Dollar index will bring into play the low from 21st June at 105.53, with not much by way of support until the 50-DMA at 105.19.
EUR is modestly firmer and holds above 1.07, largely benefitting from broader Dollar weakness. German Ifo data fell short of expectations across the board, which sparked very modest pressure in the EUR, though it has since continued its way higher.
Cable is incrementally firmer vs the Dollar, and pivoting its 50-DMA at 1.2658. As it stands, markets have ascribed a 88% chance of a cut in September, and near-enough 2 full cuts by year-end.
USD/JPY is flat after going as high as 159.92 overnight, before edging back towards 159.75. Continued upside in the pair will make traders increasingly more alert to the risk of intervention, particularly around the 160.00 mark.
Antipodeans are both are firmer vs the Dollar, with very slight outperformance in the Aussie; AUD currently sits above its 20-DMA at 0.6639, though still some way off Friday’s best at 0.6669.
PBoC set USD/CNY mid-point at 7.1201 vs exp. 7.2647 (prev. 7.1196).
Click for a detailed summary
Click for NY OpEx Details

FIXED INCOME

USTs are rangebound with a few fleeting ticks higher emerging on the German Ifo release but with just under 10 ticks to go to re-test Friday’s pre-PMI best. Fed’s Goolsbee & Daly are scheduled for later today, but this week’s focus will reside on US PCE on Friday. USTs currently trading around 110’16.
Bunds were initially contained as a particularly poor Ifo only inspired a few fleeting ticks higher in Bunds, rising to a 132.72 peak. Since, Bunds have slipped off best levels and towards session lows at 132.33, though without a clear catalyst, but in tandem with a modest pick-up in other safe-haven assets such as the JPY & CHF.
Gilts are incrementally outperforming but with specifics light. Upside potentially coming as the UK docket is devoid of catalysts and as such Gilts are taking the opportunity to pare some of Friday’s downside, whilst USTs and Bunds are mindful of this week’s key risk events/supply.
Click for a detailed summary

COMMODITIES

Crude is firmer and off worst levels, having traded rangebound overnight and throughout the majority of the European morning. Brent Aug currently holding just above USD 85.50/bbl.
Precious metals are a touch firmer given the weaker USD and generally slightly soft yield environment; XAU in a USD 2317-2332/oz range, which is capped by the USD 2332/oz 21-DMA.
Base metals followed the APAC tone and were subdued/lacklustre overnight. A narrative that has dissipated in the European morning given the improved tone and USD pullback.
Iran set July Iranian light crude price to Asia at Oman/Dubai plus USD 2.60bbl, according to Reuters.
Ukraine’s Energy Ministry said a Russian air strike on Saturday attacked a Ukrainian infrastructure facility in the west and that Ukraine planned record-high electricity imports following Russia’s air strikes, according to Reuters.
Phillips 66 (PSX) reports a unit upset at the Wood River, Illinois refinery (173k BPD)
Click for a detailed summary

NOTABLE DATA RECAP

German Ifo Current Conditions New (Jun) 88.3 vs. Exp. 88.4 (Prev. 88.3); Ifo Business Climate New (Jun) 88.6 vs. Exp. 89.7 (Prev. 89.3); Ifo Expectations New (Jun) 89.0 vs. Exp. 90.8 (Prev. 90.4); Ifo Head says little trust in the economic developments. Reluctance to invest, via CNBC. Wages are growing by greater than inflation, this has not translated into improved demand; households not spending and firms not investing.

NOTABLE EUROPEAN HEADLINES

Manchester Airport in the UK was affected by a major power cut on Sunday morning which caused widespread disruption and the cancellation of a quarter of total flights from the airport. It was later reported that the airport was resuming operations and it is working on rescheduling flights in the coming days, while flights scheduled on Monday should be unaffected.
Ipsos poll found that 25% of respondents had the most confidence that Marine Le Pen’s far-right RN to make the correct decisions on economic issues compared with 22% for left-wing NFP and 20% for French President Macron’s alliance, according to FT.

NOTABLE US HEADLINES

EU’s Breton says they are taking further action against Apple (AAPL) to ensure compliance with the DMA, Co. has been squeezing out innovative companies and denying consumers new opportunities.
EU Regulators says Apple’s (AAPL) requirements fall short of complying with EU tech rules; open investigation into Apple on its new contractual requirements for third-party app developers and app stores; Rules breach EU tech rules prevent app developers from steering consumers to alternative offers.

GEOPOLITICS

MIDDLE EAST

“Cairo will not restart the Rafah crossing in the presence of Israel “, via Al Arabiya citing an Egyptian source
Israeli PM Netanyahu said the phase of intense fighting against Hamas is coming to an end but added it does not mean an end to the war in Gaza and stated that once the intense phase of fighting ends in Gaza, it would allow the deployment of more forces to the northern border with Lebanon, according to Reuters.
Israeli Defence Minister Gallant headed to Washington on Sunday where he will discuss Gaza and Lebanon during his US trip, according to Reuters.
Security and political talks were reportedly underway in Israel to choose the right timing for action in the north, according to Israel’s Channel 12.
Israel reportedly conducted an air strike on a UNRWA aid centre in Gaza which killed 8 people, according to witnesses cited by the Australian Broadcasting Corporation.
US top general warned that an Israeli offensive in Lebanon could increase risks of a broader conflict that draws in Iran, according to Reuters.
Yemen’s Houthis said they carried out two military operations in the Arabian and Red Seas in which it targeted the Trans World Navigator ship in the Arabian Sea and targeted US aircraft carrier Eisenhower in the Red Sea, according to Reuters.
US Central Command said forces successfully destroyed three Iranian-backed Houthi unscrewed surface vessels in the Red Sea, while it added that Houthis launched three anti-ship ballistic missiles from a Houthi-controlled area of Yemen into the Gulf of Aden but there were no injuries or significant damage reported by US, coalition or merchant vessels.
UKMTO announced an incident 65NM west of Yemen’s Hodeidah whereby a vessel was reportedly hit by an uncrewed aerial system which resulted in damage. UKMTO also announced an incident 96NM of Yemen’s Nishtun in which a vessel was reported to have suffered flooding that cannot be contained and the crew were forced to abandon ship but have been recovered by an assisting ship.
Bahrain and Iran agreed to restart talks aimed at resuming political relations between the two countries, according to Bahrain’s state news agency.

OTHER

Ukrainian President Zelensky said Russia used more than 2,400 guided bombs against Ukraine in June alone including 700 against Kharkiv, while he added that they need the promised defence packages without delay so that their agreements with US President Biden can be carried out, according to Reuters.
Ukraine said Russia launched an air attack on Kyiv and its region, while air defence systems engaged in repelling the attack. It was separately reported that Russian air defence systems destroyed 12 Ukraine-launched drones over Russia’s Bryansk region, according to the regional governor cited by Reuters.
Shrapnel from an intercepted US-made missile fired by Ukraine hit a beach packed with sunbathing tourists in occupied Crimea on Sunday, according to The Telegraph. It was separately reported that Russia’s Defence Ministry said that responsibility for the shelling of Crimea’s Sevastopol lies primarily with the US and that there will be a response to the shelling, according to Reuters.
EU reportedly devises a legal loophole to bypass a Hungary veto on support for Ukraine, according to FT.
South Korea, the US and Japan said Russian President Putin’s visit to North Korea triggered grave concern and they strongly condemn the deepening of North Korean and Russian military cooperation, while they will further strengthen security cooperation to counter threats by North Korea, according to South Korea’s Foreign Ministry.
US envoy for East Asia Kritenbrink said the US-Vietnam partnership has never been stronger and only Vietnam can decide how best to safeguard its sovereignty and advance its interests. Kritenbrink also commented that the current situation is deeply concerning and they will stand with Filipino allies, as well as noted that China’s actions, especially around the Second Thomas Shoal in the South China Sea have been irresponsible aggressive, dangerous and deeply destabilising. Furthermore, he said they have made it clear to Beijing that mutual defence treaty obligations the US has to the Philippines are ironclad, according to Reuters.
Philippines President Marcos said they are not in the business of instigating war and refuse to play by the rules that force them to choose sides in a great power competition, while he added they would like to settle all issues peacefully and have never yielded to any foreign power, according to Reuters.
Russia expressed “demarche” to the US envoy over the missile attack on Crimea, via Tass.

CRYPTO

Bitcoin and Ethereum continues to slip, with the pair both at session lows; BTC looking to test USD 61k to the downside.
Mt. Gox Trustee is to start Bitcoin & Bitcoin Cash repayments in July.

APAC TRADE

APAC stocks were predominantly subdued heading closer to month-end and US PCE data later in the week, with sentiment not helped by Friday’s mixed performance stateside and the lack of major macro catalysts.
ASX 200 was led lower by the resources and mining-related sectors amid softer underlying commodity prices.
Nikkei 225 initially swung between gains and losses as participants digested currency weakness and renewed jawboning but eventually bucked the overall trend owing to exporter strength.
Hang Seng and Shanghai Comp. declined whereby the former retreated beneath the 18,000 level amid tech and property-related pressure, while the mainland index continued its descent after it recently breached the 3,000 level to the downside to print its weakest level since late February.

NOTABLE ASIA-PAC HEADLINES

China’s MOFCOM said it resolutely objects to US planned curbs on investment in China and urged the US to lift investment restrictions on China.
China’s ByteDance and Broadcom (AVGO) are working on developing an advanced AI processor which would use 5nm technology and manufacturing would be outsourced to TSMC (2330 TT), while it would be compliant with US export restrictions, according to Reuters sources.
China’s Commerce Minister and EU Trade Commissioner agreed to launch consultations on EV tariffs, according to China’s MOFCOM. It was also reported that China’s state planner hopes that Germany will demonstrate leadership within the EU and do the correct thing, while China will take all measures to safeguard the legitimate rights and interests of Chinese companies, as well as noted that the average price of China’s main EV models overseas is higher than domestic prices.
Germany’s Economy Minister Habeck said in Shanghai that EU Commissioner Dombrovskis informed him that there will be concrete talks on tariffs with China and their goal is a level playing field between China and Germany. Habeck stated that it is good to be export-oriented but not to use subsidies for it, while he sees some options to reach an agreement but that is the task of the Commission. It was also reported that Habeck said EU tariffs are not a punishment but intend to level the playing field, while he also commented that he does not want tariffs because he believes in open markets and stated there is time for dialogue until November between the EU and China on tariffs, according to Reuters.
China is to create a fund to rescue financial companies in an effort to avert a financial crisis stemming from the property industry slump, according to Nikkei.
BoJ Summary of Opinions from the June 13th-14th meeting noted that a member said the BoJ is expected to raise the interest rate if underlying inflation rises as projected and a member said they must consider a further adjustment to the degree of monetary easing given the chance of upside risk to inflation, while there was also the that the BoJ must raise the interest rate in a timely fashion without delay in accordance to heightening chance of achieving the price target. However, one member said BoJ can wait to shift the level of interest rate until it can confirm through data a clear uptrend in inflation and inflation expectations, while a member also said it is appropriate to keep easy policy for the time being due to a lack of strength in consumption and some disruption to auto shipments.
Japanese Finance Minister Suzuki said he won’t comment on forex levels and that it is desirable for currencies to move in a stable manner reflecting fundamentals, while he added that excessive FX changes are undesirable and wants to respond appropriately as needed, while he replied no comment when asked if current FX moves are excessive.
Japan’s top currency diplomat Kanda said he won’t comment on daily forex levels and will take appropriate steps if there is an excessive forex move, while he added there is no impact at all from the US report on forex monitoring and the US government suggests there is no problem in Japan’s forex intervention. Furthermore, he doesn’t have a specific forex level in mind and will respond to rapid forex moves by speculators but won’t comment if recent moves are excessive and said Japan is ready to intervene in the currency markets 24 hours a day if needed.
India’s Finance Minister said they are to consider GST rate rationalisation in the next GST Council meeting in August, according to Reuters.

DATA RECAP

New Zealand Trade Balance (NZD)(May) 204.0M (Prev. 91.0M, Rev. -3M)
New Zealand Exports (NZD)(May) 7.16B (Prev. 6.42B, Rev. 6.31B); Imports 6.95B (Prev. 6.32B)

NORTH KOREA/SOUTH KOREA

END

2e) JAPAN

3 CHINA

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EUROPE/

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL HAMAS RAFAH

Rafah Crossing Now Completely Destroyed & No Longer Usable For Gazans Seeking Exit

SUNDAY, JUN 23, 2024 – 09:35 PM

The Israel Defense Forces (IDF) have announced that for the first time Gaza’s sole border crossing with Egypt has been completely destroyed to the point that it can no longer be used.

Israeli Army Radio issued the following statement days ago: “This is how Rafah crossing looks today, completely destroyed and no longer usable, after being taken over by Brigade 401 in one night.” The statement added that “Due to its relative proximity to the border, the Israeli army used the crossing as a stopping point and resting area.”

Throughout most of the conflict which goes back to Oct.7, Palestinian officials operated on one side and Egyptian border troops on the other. The government of Egypt has long been bracing for a possible flood of refugees especially after Israel’s ground offensive in Rafah kicked off.

That Rafah crossing is now effectively closed and guarded by the IDF, which will only add to the unfolding humanitarian disaster as civilians are trapped with nowhere to go amid the Israel-Hamas battles raging on streets across southern Gaza.

As for the physical state of the crossing itself, war correspondents have confirmed that the exterior of the structure was incinerated: “Occupation forces damaged Rafah crossing’s halls that were used by locals to exit the Strip,” according to an earlier report by Middle East Eye.

Below is a statement by China’s CGTN:

On June 19, a journalist filmed the scene from the Gaza side of the Rafah border crossing after the Israeli army began its ground military operation in May. The crossing, located on the southern border with Egypt, is the main route for international humanitarian aid to enter the Gaza Strip.

Israeli forces have razed an umber of buildings here besides blocking humanitarian aid and personnel from entering Gaza. June 20 marks the World Refugee Day. However, many people displaced in the Gaza Strip and the living environment has been destroyed by the war.

Sally Abi Khalil, Oxfam’s Middle East and North Africa Director, has directed angry words against Israel, saying last week that the government “claimed weeks ago that it would provide full humanitarian support and medical assistance to civilians it had told to move.”

Video showing the status of the crossing now:

https://www.zerohedge.com/geopolitical/rafah-crossing-now-completely-destroyed-no-longer-usable-gazans-seeking-exit

She added, “Not only is this not happening, its ongoing impunity, bombardment, and deliberate obstruction have created unprecedented and impossibly dangerous conditions for humanitarian agencies to operate.”

Meanwhile, the US-built pier is not doing well either. It has been out of commission longer than it has been operational, due largely to choppy seas in the Eastern Mediterranean.

ISRAEL/HEZBOLLAH

Hezbollah Shows Off Israeli Target Bank Of Sensitive Sites In New Video Warning

SUNDAY, JUN 23, 2024 – 12:50 PM

Via The Cradle

Hezbollah released a video titled “To whom it may concern” on Saturday, featuring coordinates of sensitive and vital Israeli targets that would be struck in the event of a war against Lebanon, marking the second such warning within less than a week.

The video begins with a clip from the latest speech by Hezbollah leader Hassan Nasrallah, where he warns that the Lebanese resistance will fight “without limits, rules, or restraints” if Israel wages a war against Lebanon. It then proceeds to show numerous targets across Israel.

BREAKING | Hezbollah publishes ‘TO WHOM IT MAY CONCERN’ – a video revealing the coordinates of extremely sensitive Israeli targets that would be targeted in the event of all-out war with Lebanon.

1:08

6:09 PM · Jun 22, 2024

12.6K Views

BREAKING | Hezbollah publishes 'TO WHOM IT MAY CONCERN' – a video revealing the coordinates of extremely sensitive Israeli targets that would be targeted in the event of all-out war with Lebanon. pic.twitter.com/ABoXFGRmuZ
— The Cradle (@TheCradleMedia) June 22, 2024

The targets include several sensitive targets in Haifa, the port of Ashdod, the Hadera power station, the Ramat David Military Airport in Afula, Pengrion Airport, Nevatim air base, oil refineries on the coast, and the Research Center at the Dimona Nuclear Reactor.

The clip also showed the HaKirya Complex, which includes the headquarters of the Israeli Ministry of Security and the General Staff. Fears are growing in Israel as Tel Aviv has threatened that it is preparing an expanded attack on Lebanon.

Also on Saturday, retired Israeli general Yitzhak Brik said that declaring war on Lebanon would mean “mass suicide for Israel.”

The new clip came just a few days after Hezbollah released a nine-minute video of footage filmed by its drones, “…what the hoopoe came back with,” which show several sensitive sites in Israel’s north, namely the port of Haifa and the warships and military sites in its vicinity.

The video also showed buildings belonging to the Israeli Rafael defense technology firm north of Haifa, where air defense missiles for the Iron Dome and David’s Sling systems are manufactured, assembled, and stored.

Below: Hezbollah releases close-up surveillance footage captured recently by its reconnaissance drones, showing sensitive Israeli targets in the north – including Haifa Port, a number of Iron Dome Platforms, and military complexes.

https://www.zerohedge.com/geopolitical/hezbollah-shows-israeli-target-bank-sensitive-sites-new-video-warning

“The Hezbollah video conveys an unequivocal message to Israel, that the party is present inside Israel by the air, land, and sea, and is planning what comes next, and that is capable of carrying out severe strikes,” Israel’s Channel 14 news outlet said last week, adding that the filming of this footage is “an Israeli security failure of the first degree … The situation in the north is much worse than we imagine.”

END

ISRAEL/HOUTHIS/RED SEA

Two Distress Calls: UK Navy Reports Crew Abandoned Ship In Gulf Of Aden, Kamikaze Drone Attack In Red Sea

SUNDAY, JUN 23, 2024 – 11:25 AM

Update (1125ET):

The United Kingdom Maritime Trade Operations (UKMTO) reported two maritime incidents involving merchant vessels on Sunday. The first occurred in the Red Sea, where a suicide drone struck a vessel. The second incident took place in the Gulf of Aden.

A new update from UKMTO said a merchant ship 96 nautical miles southeast of Nishtun, Yemen, “reported severe flooding that cannot be contained, forcing the master and crew to abandon the ship.”

UKMTO said the crew had been rescued by an “assisting ship,” and the abandoned ship “remains adrift at position 14°31’N 053°08’E.”

“Relevant authorities have been informed, confirming this as a SOLAS incident,” UKMTO noted.

The term “SOLAS incident” typically refers to an event or situation that falls under the regulations and guidelines set forth by the SOLAS, which stands for the International Convention for the Safety of Life at Sea.

SOLAS is a maritime treaty established by the International Maritime Organization. Its main purpose is to specify minimum safety standards for the construction, equipment, and operation of ships to ensure the safety of the crew and passengers.

* * *

Iranian-backed Houthi attacks in the Red Sea and Gulf of Aden continue ramping up, with two more incident reports in under 12 hours (as of 0800 ET) on Sunday morning. In oil markets, traders ignore broader conflict risks in the Middle East as the Gaza war may soon spill over into Lebanon. If further escalation is realized, then expect increased drone and missile attacks on commercial vessels sailing through critical maritime chokepoints in the Middle East, where trillions of dollars in global trade flows each year.

Let’s begin with the first incident reported by the United Kingdom Maritime Trade Operations (UKMTO) on X. Just after midnight, they detailed in a report that an “uncrewed aerial system” hit a commercial vessel about 65 nautical miles west of Yemen’s Hodeidah in the southern Red Sea, resulting in “damage.”

“All crew members are reported safe, and the vessel is proceeding to its next port of call,” UKMTO said.

Separately, Reuters quoted British security firm Ambrey as saying the damaged vessel is a “Liberia-flagged fully cellular container ship.” The firm did not provide the vessel’s name.

According to UKMTO, the second incident occurred just hours ago with a “distress call from a vessel” located 96 nautical miles southeast of Nishtun, Yemen, in the Gulf of Aden.

UKMTO is currently investigating, and details are limited.

The suspected Houthi attacks come after the sinking of the commodity-hauling bulk carrier “Tutor” last week. The use of a kamikaze drone boat marked what appeared to be a new escalation in attacks on the critical shipping lane.

The rebel group has been launching drone and missile strikes on Western-linked commercial vessels sailing through or near the Bab-el-Mandeb Strait since November. Rebels say it’s in solidarity with Palestinians in Israel’s war with Hamas militants in Gaza.

On Sunday, Israeli Defence Minister Yoav Gallant said in a statement ahead of his Washington trip that the next phase of the Gaza conflict could broaden into Lebanon.

“We are prepared for any action that may be required in Gaza, Lebanon, and in more areas,” Gallant said in a statement, who was quoted by Reuters.

Meanwhile, AP News said that thousands of fighters from Iran-backed groups in the Middle East are preparing to flood Lebanon to join Hezbollah if further conflict breaks out.

An expanding conflict in the Gaza war will almost guarantee Houthis or other Iran-backed groups will ramp up attacks on commercial vessels across critical maritime chokepoints, including Bab-El Mandeb Strait and the Strait of Hormuz. Analysts from MUFG Bank pointed out these risks earlier this year.

MUFG analysts showed that 25% of global trade flows through three chokepoints: the Suez Canal, the Bab-El Mandeb Strait, and the Strait of Hormuz. This means the global economy is at serious risk of a supply shock if wider conflict breaks out.

Already, global shipping companies have rerouted vessels around the Cape of Good Hope, straining containerized shipping capacity, which has, in turn, catapulted shipping costs higher.

One fear that David Asher, a senior fellow at Hudson Institute, has is Iran weaponizing crude against the US economy if conflict broadens in the Middle East. He recently wrote in a note, “Iran is Preparing For Oil War: Markets Ignore Growing Risk,” and a “Global oil shock could trigger a crisis ala 2007-2008.”

Asher’s note was prepared earlier this year.

Asher pointed out in this slide that Tehran could use oil as an economic weapon against the West.

Consider the economic impacts of previous oil shocks…

If Houthi rebels start targeting key oil facilities in Saudi Arabia, then expect Brent crude to be well over $100/bbl.

All eyes are on the Middle East.

ISRAEL/HAMAS RAFAH

Netanyahu: Intense Rafah fighting almost over, Hezbollah battle is next

Netanyahu, while interviewing with Channel 14, said that Israel is open to diplomacy but stressed that any resolution would be on Israel’s terms.

By TOVAH LAZAROFFJUNE 23, 2024 22:50Updated: JUNE 23, 2024 23:00

Israeli Prime Minister Benjamin Netanyahu, Ministers and MK's at a 40 signatures debate, at the plenum hall of the Knesset, the Israeli parliament in Jerusalem, on May 27, 2024. (photo credit: YONATAN SINDEL/FLASH90) — Israeli Prime Minister Benjamin Netanyahu, Ministers and MK’s at a 40 signatures debate, at the plenum hall of the Knesset, the Israeli parliament in Jerusalem, on May 27, 2024.(photo credit: YONATAN SINDEL/FLASH90)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-807390&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240620_766c2da64bc8005c128e9c35f09c4c3425ed8cca&useBunnyCDN=0&themeId=140&unitType=tts-player

The intense part of the military operation in Rafah is almost over, Prime Minister Benjamin Netanyahu said on Sunday night, explaining that the next goal is to bring an end to Hezbollah’s attacks along the country’s northern border.

“The intense phase of the war is about to end in Rafah,” after which the IDF will “continue mowing the grass all the time. We will not give up. We hit them hard,” Netanyahu said in a wide-ranging interview with Channel 14.

It marked the first time since the start of the Gaza war on October 7, that he had granted an interview to an Israeli television station.

Once the IDF completes its intense fighting in Rafah, “we will face north,” Netanyahu said, amid heightened expectation that the IDF is set to launch a military campaign in Lebanon to oust Hezbollah from the territory on Israel’s border to stop its persistent attacks.

Israel, he said, is open to a diplomatic resolution to the Hezbollah threat, but he stressed, “It must be on our terms.”

IDF soldier operates in the Gaza Strip. (credit: IDF SPOKESPERSON'S UNIT) — IDF soldier operates in the Gaza Strip. (credit: IDF SPOKESPERSON’S UNIT)

Any diplomatic resolution must involve a real solution, that includes the “physical removal of Hezbollah from the border,” Netanyahu stated.

Netanyahu speaks of returning residents of northern Israel home

“We will have to enforce it” because the residents of the North must be allowed to return home, Netanyahu said as he referred to the scores of thousands of citizens who fled their communities in the North on October 7 and have not been able to safely return.

“We are obligated to return the residents of the North to their homes,” Netanyahu stated.

He did not provide specifics with retard to the possibility of a third Lebanon war, but said, “We will do what is necessary. I can assure the citizens of Israel that if we are required to take on this challenge, we will do it. We can fight on several fronts, and we are also preparing for it.” Netanyahu acknowledged that it was possible that Israeli electricity facilities could be damaged in the war, but did not elaborate further.

UKRAINE/RUSSIA

This is a major escalation and Putin will respond

(zerohedge)

Children Among Mass Casualties After US-Supplied Missile Targets Crowded Crimean Beach

SUNDAY, JUN 23, 2024 – 03:45 PM

Russia on Sunday is reporting a mass casualty event in the Crimean port city of Sevastopol, and is saying that a US long-range missile was behind it.

The Russian Ministry of Health in a recent update said that five people were killed in a series of strikes from Ukraine, which injured 124 people including 27 children. Among the deceased, two were children, the ministry said. The casualty toll is likely to climb over the next hours amid the emergency response and as hospital data is reported.

Moscow is calling it a ‘terrorist missile strike’ on Sevastopol with five US-supplied ATACMS tactical missiles, carried out just after noon local time. What’s more is that Russia says they were equipped with cluster warheads, making for a bigger casualty strike zone.

Crimean officials said that in once instance a missile exploded above a crowded beach, unleashing shrapnel on people who had been relaxing there.

A separate Russian Defense Ministry (MoD) statement directly accused Washington. “Flight missions for ATACMS missiles are programmed by American specialists based on US satellite reconnaissance, making Washington primarily responsible for the deliberate missile strike on Sevastopol’s civilians,” the Russian Ministry of Defense (MoD) stated.

Widely circulating brief video showing the moment a projectile exploded over beachgoers in Sevastopol…

The NATO-backed Kiev regime attacked Sevastopol with U.S.-supplied ATACMS missiles using cluster munitions. So far, three people, including two children, have been reported killed. The number of injured civilians has almost reached 100.

7:57 AM · Jun 23, 2024

329.1K Views

🇺🇦🇷🇺 The NATO-backed Kiev regime attacked Sevastopol with U.S.-supplied ATACMS missiles using cluster munitions.

So far, three people, including two children, have been reported killed.

The number of injured civilians has almost reached 100. pic.twitter.com/zI2h15IIGX
— DD Geopolitics (@DD_Geopolitics) June 23, 2024

“Therefore, the responsibility for the deliberate missile strike on Sevastopol’s civilians lies primarily with Washington, which supplied this weapon to Ukraine, as well as the Kiev regime, from whose territory the strike was launched,” the MoD statement added.

The statement explained that while anti-air defenses were able to down four of the five inbound rockets, the fight changed trajectory due to the intercept attempts resulting in “its warhead exploding in the air over the city.”

It emphasized this was “terrorist attack on the civilian infrastructure of Sevastopol with U.S.-supplied ATACMS tactical missiles loaded with cluster warheads.”

Local video of the aftermath showing a largely deserted beach…

The beach in Sevastopol, struck by a U.S.-supplied [cluster] ATACMS, is being inspected by sappers and divers. Bloodstains and scattered belongings of tourists are visible at the scene of the tragedy.

0:45

11:37 AM · Jun 23, 2024

98.1K Views

🇷🇺 The beach in Sevastopol, struck by a U.S.-supplied [cluster] ATACMS, is being inspected by sappers and divers.

Bloodstains and scattered belongings of tourists are visible at the scene of the tragedy. pic.twitter.com/3Tg1eSRxaC
— DD Geopolitics (@DD_Geopolitics) June 23, 2024

AFP writes of emerging unverified footage that “Videos posted on social media showed people running from the beach as explosions went off and people in swimming outfits carrying a stretcher.”

Russia’s military warned that “Such actions will not be left without a response.” The Biden administration has regularly sought to claim that US-supplied weapons transferred to Ukraine can only be used to attack military targets and are “defensive” – even in the instance of cross-border attacks.

Likely Russia is gearing up to pummel multiple sites across Ukraine, and will try to go after bases hosting foreign military equipment and arms storehouses. This event is a major escalation, and likely President Putin himself will address it in a statement at some point in the next 24 hours.

Already Ukraine has been struggling through nationwide rolling blackouts due to stepped-up airstrikes and drone attacks primarily targeting the nation’s energy infrastructure, as its population braces for more.

END

RUSSIA/

Large Terror Attack On Synagogue & Orthodox Churches In Russia’s Dagestan

BY TYLER DURDEN

SUNDAY, JUN 23, 2024 – 08:25 PM

Unknown terrorists went on a rampage using automatic weapons against religious sited in Dagestan, Russia on Sunday night. Authorities in the southern Russian republic situated in the Caucuses say that police officers were killed and wounded as the gunman targeted a synagogue and an Orthodox church.

At least nine are dead, and 25 injured. An Orthodox priest was also slain. A fire also resulted at the synagogue, with emergency response crews subsequently battling the blaze. Some reports say that two Orthodox churches were hit in the assault, and that a priest was killed.

According to Russia’s state-run TASS: “At approximately 18:00 [Moscow time] in Derbent, unknown persons fired at a synagogue and a church with automatic weapons. According to preliminary information, one police officer was killed and one was wounded.”

“The car in which the suspects fled was identified as a white Volkswagen Polo, license plate 921 The circumstances are being clarified. Information about the dead and wounded police officers is being clarified.”

And a Russian Internal Affairs Ministry statement indicated: “In Makhachkala, unknown persons fired at a traffic police post on Ermoshkin Street. The ‘Interception’ plan was announced. The identities of the attackers are being established.”

BREAKING: Heavy gunfire reported at 2 locations in Russia’s Dagestan region. Synagogue on fire.

12:01 PM · Jun 23, 2024

5,780 Views

BREAKING: Heavy gunfire reported at 2 locations in Russia's Dagestan region.

Synagogue on fire. pic.twitter.com/Vk6yvjsmor
— The General (@GeneralMCNews) June 23, 2024

It appears that at least some of the attackers may have gotten away, with RT reporting the following statement:

The suspects drove away in a white Volkswagen Polo, the police said, adding that they are currently searching for the vehicle.

The below includes more details via state-backed RT:

The assailants in Derbent reportedly broke into the Orthodox church and killed a local priest by slitting his throat, said Shamil Khadulaev, the head of the regional public oversight committee which monitors the observance of human rights in prisons. Other regional authorities have not commented on this information.

The synagogue was reportedly set on fire. Videos and photos have surfaced on social media purporting to show the building engulfed in flames.

The priest who had his throat slit by the Islamist terrorists in the terror attack today in Dagestan, Russia has been identified. Fr. Nikolai Kotelnikov was murdered in the Derbent Church of the Intercession of the Blessed Virgin Mary

3:15 PM · Jun 23, 2024

425.8K Views

BREAKING:

The priest who had his throat slit by the Islamist terrorists in the terror attack today in Dagestan, Russia has been identified.

Fr. Nikolai Kotelnikov was murdered in the Derbent Church of the Intercession of the Blessed Virgin Mary pic.twitter.com/B5gCfWQADv
— Visegrád 24 (@visegrad24) June 23, 2024

Judging from some of the details to have emerged thus far, this appears to have been an Islamist terror attack, possibly by ISIS or an affiliated group.

The situation including efforts to apprehend the gunmen may have occurred over a period of hours.

BREAKING: A terrorist attack on a Jewish synagogue and a church in Russia’s Dagestan. Five police officers were killed, and nine more were injured.

0:24

12:43 PM · Jun 23, 2024

168.1K Views

https://twitter.com/GlobeEyeNews/status/180491823076461781

Videos show large fires over the city of the attack and a heavy police response, with running street battles…

BREAKING:

Coordinated Islamist terror attacks in Dagestan, Russia.

Bearded gunmen dressed in black have attacked a synagogue and a church.

At least 6 people k*lled pic.twitter.com/iE6chKbBfh— Visegrád 24 (@visegrad24) June 23, 2024

Potential Jewish casualties from the synagogue attack remain uncertain in the immediate aftermath, and as more details emerge.

Russia has been on edge ever since the March 22, 2024 Crocus City Hall attack in Moscow, which killed at least 145 and wounded hundreds more after heavily armed gunmen stormed the mall and concert venue. ISIS-K took responsibility for the large-scall killings in the aftermath. This new Dagestan attack could be a copy-cat incident.

undreds more after heavily armed gunmen stormed the mall and concert venue. ISIS-K took responsibility for the large-scall killings in the aftermath. This new Dagestan attack could be a copy-cat incident.

6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES

WORLD EVENTS NOTEWORTHY

END

WORLD HEALTH ISSUES

MARK CRISPIN MILLER

Our children’s hearts are under threat!—from (what else?) climate change, and air pollution, say the “experts” at the American Heart Association

The AHA keeps right on playing its part in Operation Herod

MARK CRISPIN MILLERJUN 21

READ IN APP

Note the visual implication that it’s black children in particular whose hearts are “threatened” not by the “vaccine” relentlessly pushed on them for the last 4+ years, but “rising temperatures and pollution.”

American Heart Association raises concerns about growing threat compromising cardiovascular systems of children: ‘Increases the incidence of congenital heart defects’

“It’s up to all of us to take a stand for children’s heart health — and the planet we all share.”

June 21, 2024

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

Most of us want to do everything we can to keep our children healthy and give them a bright future. But there’s a growing threat to our kids’ well-being that many of us overlook: the impact of rising temperatures and pollution on their cardiovascular health.

What’s happening?

A statement from the American Heart Association warns that increasing temperatures and exposure to pollutants and chemicals can seriously harm the cardiovascular health of newborns, infants, children, and adolescents.

Experts are sounding the alarm about how the complex interplay of environmental changes, maternal heat exposure, airborne pollutants, lead, and synthetic chemicals puts the heart health of the next generation at grave risk, according to Medical Xpress.

American Heart Association raises concerns about growing threat compromising cardiovascular systems of children: ‘Increases the incidence of congenital heart defects’

How should the new 2023-24 COVID-19 vaccinations be given to children?

According to the FDA, which authorized the newest COVID-19 vaccines, anyone 5 years old and up can have a single dose of Pfizer or Moderna’s 2023-24 formulation at least two months after receiving any previous COVID-19 vaccine.

For children ages 6 months through 4 years who have not received any COVID-19 vaccination, three doses of the updated Pfizer vaccine or two doses of the updated Moderna vaccine are authorized. If they have already been vaccinated they can receive one or two doses of the newest vaccines, depending on previous COVID-19 vaccination (check with your child’s health care team).

https://www.heart.org/en/coronavirus/coronavirus-questions/questions-about-covid-19-vaccination

Myocarditis risk significantly higher after COVID-19 infection vs. after a COVID-19 vaccine

August 22, 2022

Among almost 43 million people in England who received at least one COVID-19 vaccine dose, the risk of myocarditis was substantially higher in the four weeks after COVID-19 infection than after a first dose of a COVID-19 vaccine, according to new study in Circulation.

https://newsroom.heart.org/news/myocarditis-risk-significantly-higher-after-covid-19-infection-vs-after-a-covid-19-vaccine

end

Bowler David Lawrence has motor neurone disease, BBC’s David Owen, weeping, offers cancer update; Michael Flatley blames castle for his cancer; German rocker Hartmut Engler crippled by osteoarthritis

Brazilian rugby’s Raquel Kochhann getting over cancer; footballer Nabil Bentaleb in French hospital with “illness”; Austrian actor Katy Karrenbauer has a stroke; Italian rapper Fedez hit by “illness”

MARK CRISPIN MILLERJUN 22

READ IN APP

British swimmer Freya Anderson sidelined by “glandular fever”; “Virus lays flat French national team”; Dutch soccer boss Louis Van Gaal reveals that he’s “been living with catheters and urine bags for three years,” due to cancer; Italian TV star Francesco Chiofalo “rushed to hospital” after seizure (due, he says, to “surgery years ago”)

BRAZIL

Coming back from cancer, Brazil rugby sevens star Raquel Kochhann ready to tackle her third Olympics

June 19, 2024

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

After more than 1½ years on the sidelines, initially with an injured knee and then for her cancer recovery, Kochhann [31] reappeared for Brazil in January at the world sevens series event in Perth. She helped Brazil reach the quarterfinals in Los Angeles, played in Hong Kong and in the series finale in Madrid. Now she’s preparing for the Paris Games, where women’s sevens kicks off July 28. In a social media post in late 2023 announcing her return to play, Kochhann urged followers to “play every game like it’s your last. This phrase sounds cliché, but we don’t know what tomorrow will bring, what if we don’t have another opportunity?” she posted. “Our fate is unpredictable. An ACL injury in May 2022 turned out to be a lengthy breast cancer treatment. A lot of learning and personal growth.”

Link

UNITED KINGDOM

Former England bowler David Lawrence diagnosed with motor neurone disease

June 21, 2024

David Lawrence, the first Britain-born black player to feature for England, has been diagnosed with motor neurone disease. Gloucestershire, where Lawrence is the current president, announced that the 60-year-old – whose first of five Test caps came in 1988 and who also featured in one one-day international was diagnosed with MND earlier this month following a series of tests.

Link

BBC presenter Nick Owen breaks down in tears live on air as he gives cancer update

June 18, 2024

Veteran BBC presenter Nick Owen broke down live on air as he discussed his cancer diagnosis. The 76-year-old was diagnosed with prostate cancer and has since undergone extensive treatment. Appearing on BBC Midlands Today on Wednesday (19 June), Mr Owen’s colleague Ben Godfrey read out a selection of messages of support to him, including one from the former TV-am host’s son Tim, which said “very proud of you Dad”. This caused Mr Owen to cry as he said: “My Tim… oh bless you. I do want to thank everyone who’s been in touch and so supportive. I’m so grateful that people have responded to the message in the first place about prostate cancer because that’s such an important thing.”

Link

Freya Anderson reveals illness that threw Paris 2024 prep into disarray

June 21, 2024

Visualisation is a method used by a lot of elite athletes. When swimming star Freya Anderson visualised her perfect 2024, it did not involve glandular fever wreaking havoc with her Olympic preparations. The 23-year-old from Birkenhead finished last year with five medals at the European Short Course Championships and looked primed for a big year at her second Olympics – three years on from being part of the relay team that won mixed 4x100m medley gold in Tokyo. But just before Christmas, she suffered a first bout of illness, and she has since spent most of this year trying to recover.

Link

IRELAND

Michael Flatley claims his €30m castle is the blame for his cancer diagnosis

June 16, 2024

The Riverdance star, 65, was diagnosed with a rare form of the disease 18 months ago, but is now in remission after successful surgery, and has now revealed he blamed his lavish home for him contracting the disease. Michael Flatley, the iconic Riverdance star, has made the startling claim that his €30 million castle is to blame for his cancer diagnosis. Speaking to the Daily Mail, he said: “I was one of the fittest people in Ireland. But when we moved back in I never felt right, and all of a sudden I got cancer.” Flatley is currently embroiled in a legal tussle over his Cork estate, Castlehyde manor, alleging that it contains dangerous levels of toxic chemical residue, particularly on the walls of the pool, spa, and cinema areas. He’s now taking legal action against a renovation contractor and three insurance underwriters, accusing them of negligence, endangerment, misrepresentation, and breach of duty and contract, though all parties have denied the allegations and the case remains unresolved.

Link

FRANCE

Former Tottenham player Nabil Bentaleb hospitalized in France with “illness”

June 19, 2024

AUDI Cup bronze final - “Tottenham Hotspur v AC Milan”

Some awful news to report late on a Wednesday night. According to Ligue 1 club LOSC Lille, former Tottenham Hotspur midfielder and current Lille player Nabil Bentaleb was hospitalized for what the club is calling an “illness.” Unconfirmed reports online are saying that Bentaleb suffered a heart attack. Bentaleb, who is somehow still only 29, was born in Lille making LOSC his hometown club.

Link

Virus lays flat French national team

June 14, 2024

The national team of coach Didier Deschamps is one of the favorites at the European Football Championship in Germany. However, the French team is apparently plagued by worries just before the start of the tournament. According to reports, a virus has flattened large parts of the team. Bayern Munich star Kingsley Coman is said to have been particularly badly hit. Deschamps himself is also said to have felt weakened on Wednesday after returning from training. On Thursday, according to the TV channel RMC Sport, parts of the French team woke up and felt that they had caught a cold. Players are also said to have complained of headaches. However, the officials of the French national team are optimistic that everyone will be fit again on Monday.

Link

NETHERLANDS

Ex-Man Utd boss Van Gaal reveals he has been living with catheters and urine bags for 3 years in emotional cancer update

June 18, 2024

Louis Van Gaal [72] has revealed he has been living with catheters and urine bags for the past three years he has suffered with cancer. The former Manchester United boss offered an update on his condition, saying he is able to cope in his battle with prostate cancer. Van Gaal even managed the Netherlands at the 2022 World Cup while suffering with the disease. He believes that actually helped him in his fight, as it gave him a goal to work towards. The Dutchman offered an update on his condition, telling AS: “I have been living with the disease for just over three years, with radiation, hormone injections, operations, catheters and urine bags. It’s unbelievable, but I can handle it. I have managed it, and I have been able to do it even working during the last World Cup. I even think that during the World Cup I managed it even better, because I had a goal. And with the cancer process it happens just like with the process of being a coach, you look for a goal. For me it was positive to deal with both things.”

Link

GERMANY

“Horror year”: Pur frontman breaks his silence and makes diagnosis public

June 20, 2024

Things could hardly go better for Pur: the German cult band has been celebrating great successes for decades. But away from the big stages, the band’s frontman, Hartmut Engler (62) in particular, had to go through a difficult time last year. Again and again Engler stood out due to his poor physical condition before and after the band’s performances. For example, at the premiere of their musical on October 22, 2023, he took the stage with a walking stick. Now the 62-year-old is making his diagnosis public: the musician suffers from osteoarthritis. “I have had the diagnosis for a long time and have just had a terrible year in my health,” Hartmut Engler explains. Engler adds: “Associated with severe pain, knee surgery with hospitalization and many restrictions. Running became an agony for me at times, especially climbing the stairs.“ The pain is omnipresent, according to the musician.

Link

DR PAUL ALEXANDER

What is China’s role? ‘F.A.A. Investigating How Questionable Titanium Got Into Boeing and Airbus Jets’, The material, which was purchased from a little-known Chinese company,

was sold with falsified documents and used in parts that went into jets from both manufacturers.’ Is there a larger role? FAA must tell us FAST…

DR. PAUL ALEXANDERJUN 22

READ IN APP

Some recently manufactured Boeing and Airbus jets have components made from titanium that was sold using fake documentation verifying the material’s authenticity, according to a supplier for the plane makers, raising concerns about the structural integrity of those airliners.

The falsified documents are being investigated by Spirit AeroSystems, which supplies fuselages for Boeing and wings for Airbus, as well as the Federal Aviation Administration. The investigation comes after a parts supplier found small holes in the material from corrosion.

In a statement, the F.A.A. said it was investigating the scope of the problem and trying to determine the short- and long-term safety implications to planes that were made using the parts. It is unclear how many planes have parts made with the questionable material.

“Boeing reported a voluntary disclosure to the F.A.A. regarding procurement of material through a distributor who may have falsified or provided incorrect records,” the statement said. “Boeing issued a bulletin outlining ways suppliers should remain alert to the potential of falsified records.”

The use of potentially fake titanium, which has not been previously reported, threatens to extend the industry’s problems beyond Boeing to Airbus, its European competitor. The planes that included components made with the material were built between 2019 and 2023, among them some Boeing 737 Max and 787 Dreamliner airliners as well as Airbus A220 jets, according to three people familiar with the matter who spoke on the condition of anonymity because they were not authorized to speak publicly. It is not clear how many of those planes are in service or which airlines own them.

Spirit is trying to determine where the titanium came from, whether it meets proper standards despite its phony documentation, and whether the parts made from the material are structurally sound enough to hold up through the projected life spans of the jets, company officials said. Spirit said it was trying to determine the most efficient way to remove and replace the affected parts if that ended up being necessary.

“This is about documents that have been falsified, forged and counterfeited,” said Joe Buccino, a Spirit spokesman. “Once we realized the counterfeit titanium made its way into the supply chain, we immediately contained all suspected parts to determine the scope of the issues.”

The issue appears to date to 2019 when a Turkish material supplier, Turkish Aerospace Industries, purchased a batch of titanium from a supplier in China, according to the people familiar with the issue. The Turkish company then sold that titanium to several companies that make aircraft parts, and those parts made their way to Spirit, which used them in Boeing and Airbus planes.

Several plane fuselages on the floor of a factory, with a group of workers standing on the floor.

A Boeing manufacturing facility. The company has been under intense scrutiny after a series of recent mishaps and safety issues.

F.A.A. Investigating How Questionable Titanium Got Into Boeing and Airbus Jets – The New York Times (nytimes.com)

end

Fake fraud PCR-manufactured non-H5N1 pandemic (there is nor will there be a pandemic) but EU securing MILLIONS of vaxx doses to MANUFACTURE the fraud; McCullough gives us excellent scholarship & here

is why: i)Antigen Vaccine Not Tested Against Current Strain of Avian Influenza so out of the gate the vaccine FAILS, a mismatch, does not hit the correct circulating antigen (s) ii)antibody levels as

DR. PAUL ALEXANDERJUN 22

READ IN APP

the outcome measure of interest is a devastating failure, again, these inept, moronic, stupid, academically sloppy, corrupt researchers as part of the con, do not look at hard objective ‘patient-important’ outcomes that MATTER to us, such as does this vaccine reduce risk of DEATH, ICU, HOSPITILIZATION etc. so this is corrupted sub-optimal misleading research methods…we are not interested in antibody levels that are not a proper proxy for immunity iii)you see that the levels are dismal as reported, at 28 and 17%, day 43, younger and older (>65) iv)any vaccine like this, if brought, will fail due to the mismatch with the dominant circulating strain/clade etc. yet again, you vaccinate chickens, humans, whatever, with a non-sterilizing, non-neutralizing vaccine that does not hit the target antigen, thus sub-optimal, when there is pathogen, will result in selection of sub-variants. So, you are bringing (pharma and EU, you do not care) a vaccine and buying it, when the research study results show it fails (see my points above, see McCullough), and in short, you will drive viral immune escape given the mismatch between the vaccine induced antibodies and the circulating strain (s). If wrongfully deployed. It is like when they pushed out the BA4, BA5 bi-valent vaccine in COVID for the wrong circulating spike protein antigen. Viral immune escape resulted and more variants. This only drives selection of more ‘fitter’, hardier variants with a competitive advantage to thrive. That becomes ‘enriched’ in the environment. Recall antibodies (original antigenic sin (OAS), immune imprinting, immune priming to the initial prime or exposure) are to the prior imprinting or exposure. Cornerstone of OAS.

But all of this IMO is moot, DOA, bullshit for there is no pandemic, no circulating H5N1 a threat to humans. We have no evidence, no data to show any such jumped from waterfowl to waterfowl, to other birds, to cows, just heresy. Gossip. Fear mongering. We have no evidence it jumped to cows and no evidence no cow infected any human. Just heresy. Gossip. We have zero data or evidence today of any lethal H5N1 avian bird flu out there to humans and no data or evidence of any human to human transmission.

SLAY NEWS

The latest reports from Slay NewsPfizer CEO Admits Covid Was Just a ‘Rehearsal’Pfizer CEO Albert Bourla has admitted that the Covid pandemic and mRNA shot rollout was just a “rehearsal” for something far larger.READ MORE Bill Gates Launches ‘Maggot Milk’ to Feed General Public Microsoft co-founder Bill Gates has launched a new project that seeks to introduce “maggot milk” into the food supply of the general public.READ MORE Trump’s Lawyers Move to Have Judge Engoron Removed from Civil Case as New Evidence Emerges President Donald Trump’s lawyers are moving to have radical Judge Arthur Engoron removed from the New York civil “fraud” case after new evidence emerged indicating possible outside influence on the trial.READ MORE Alvin Bragg Drops Charges against Leftist Columbia University Students Arrested for Pro-Hamas Protests Manhattan’s George Soros-funded District Attorney Alvin Bragg has dropped all charges against dozens of Columbia University students who were arrested during pro-Hamas protests.READ MORE Bloomberg Donates Millions to Help Biden Stop Trump in November Left-wing billionaire Michael Bloomberg has donated a whopping $20 million to Democrat President Joe Biden’s re-election campaign.READ MORE Illegal Aliens Arrested for Murdering 12-Year-Old Texas Girl Were Recently Released into U.S by Biden Admin The two illegal aliens arrested for murdering a 12-year-old Texas girl were recently apprehended by Democrat President Joe Biden’s administration before being released into the United States.READ MORE Trump Now Leads Biden in Arizona, Post-Jury Verdict Polling Shows President Donald Trump has now become the frontrunner in Arizona for the 2024 presidential race following his recent conviction in New York, new polling shows.READ MORE Bill to Advance Nuclear Power Passes the Senate in 88-2 Vote A major bill seeking to advance America’s nuclear energy industry has passed the U.S. Senate.READ MORE Trump Campaign Receives $2 Million in Bitcoin from Billionaire Winklevoss Twins President Donald Trump’s campaign has just received a huge Bitcoin donation from two prominent figures in the cryptocurrency space.READ MORE Whoopi Goldberg Suffers Meltdown over Louisiana’s New Ten Commandments Law Co-host Whoopi Goldberg suffered a meltdown on ABC’s “The View” while discussing the new Ten Commandments law in Louisiana.READ MORE Democrat Mayor Demands Rival Prove He’s Qualified for Job by Naming ‘Three Drag Queens in San Francisco’San Francisco’s radical Democrat Mayor London Breed has laid down the gauntlet for one of her challengers to prove he’s qualified to compete for her job.READ MORE ‘Cheap Fake’ Video Shows Biden Struggling to Climb into SUV Yet another video has emerged that raises concerns about Democrat President Joe Biden’s fitness for office.READ MORE Beauty Influencer Farah El Kadhi Dies Suddenly of ‘Heart Attack’ at 36 Popular beauty influencer Farah El Kadhi has tragically died suddenly after suffering an unexpected “heart attack,” according to a report.READ MORE

The latest reports from Slay News

Government Whistleblower: Covid Shots Were Planned 20 Years in Advance

A government contractor has blown the whistle to reveal that Covid mRNA shots didn’t just suddenly appear in response to the pandemic but they had, in fact, been in the making for two decades.
READ MORE
Major Breakthrough Study Uncovers ‘Off Switch’ for Covid mRNA Shots

Scientists have just announced a major breakthrough after discovering an “off switch” for those who have been injected with Covid mRNA shots.
READ MORE

Trump Slams Fox News for Pushing Pro-Biden ‘Trash’ Poll

President Donald Trump has accused Fox News of rigging polling results against him.
READ MORE

White House ‘Cheap Fakes’ Response to Biden Videos Is Part of Social Media Censorship Agenda, Experts Warn

The widely mocked claims from the White House, that real but damaging videos of Democrat President Joe Biden are “cheap fakes,” is part of a far more sinister agenda, experts are warning.
READ MORE

Supreme Court Upholds Trump-Era Foreign Investment Tax

The United States Supreme Court has voted to uphold a tax on foreign investment that was introduced during President Donald Trump’s administration.
READ MORE

Biden Official Freezes When Asked Why the Border Is Open

Democrat President Joe Biden’s Treasury Secretary was caught off guard when asked why her boss is keeping the Southern Border open.
READ MORE

Judge Judy Slams ‘Nonsense’ Lawfare Attacks Against Trump

Judge Judy Sheindlin has slammed Manhattan District Attorney Alvin Bragg’s politically motivated prosecution of President Donald Trump as “nonsense.”
READ MORE

Brian Stelter ‘Fears’ Trump Will be ‘Cruel’ to Biden during Debate

Former CNN anchor Brian Stelter is raising concerns that President Donald Trump may be an unpredictable force during next week’s first 2024 presidential debate.
READ MORE

Doomed Democrat Rep Jamaal Bowman Apologizes for Downplaying Oct 7 Rapes: ‘I’m Going to Say Things That Harm People’

Embattled Democrat Rep. Jamaal Bowman (D-NY) has issued an apology over comments he made that downplayed the rape and murder of Israeli women and children during the October 7 terror attacks.
READ MORE

‘Hawaii Five-0’ Star Taylor Wily Dies Suddenly at 56

Beloved TV actor Taylor Wily has tragically died suddenly at just 56 years old.
READ MORE

Sarah Huckabee Sanders: Trump Will ‘Crush’ Biden in November

The Republican Governor of Arkansas Sarah Huckabee Sanders has declared that President Donald Trump will “crush” his Democrat “rival” in the critical November election.
READ MORE

EVOL NEWS

New Study: Covid Vaxxed Face ‘Alarming’ Risk of Sudden Brain Clots A disturbing new study has warned that all recipients of Covid mRNA injections are facing a ticking time bomb where they could be struck down with a sudden brain clot at any moment, without warning.READ THE FULL REPORT The U.S. Supreme Court Rules 5-4 Against New Mexico and Texas in Water Rights Dispute On Friday, the U.S. Supreme Court rejected a motion from Texas and New Mexico to settle a dispute over water rights to the Rio Grande River.READ THE FULL REPORT Democrat Judge Arrested in Atlanta After Assaulting Police Officer in Nightclub According to records from Fulton County Jail, a Douglas County judge was arrested early Thursday morning at a nightclub in Atlanta.READ THE FULL REPORT Biden’s Attorneys Threatening to Challenge 2024 Election Results Joe Biden’s personal attorney, Bob Bauer, informed Politico that he is getting ready to challenge the 2024 election results.READ THE FULL REPORT Supreme Court Issues Five Opinions on Friday; Major Cases Still Pending – Final Opinions Expected Wednesday The United States Supreme Court issued five opinions on Friday, June 21, 2024.READ THE FULL REPORT

Biden deficit messaging undercut by ballooning debt. – EVOL READ MORE…

LATEST NEWS:

LATEST NEWS:

NEWS ADDICTS

Top Pediatrician: Vaxxed Infants Are Dying at ‘Alarming’ Rates A leading pediatrician has raised the alarm as sudden deaths skyrocket among infants and young children who have been “vaccinated” with Covid mRNA shots.READ THE FULL REPORT Family of Woman Raped and Murdered by Illegal Alien ‘Deeply Touched’ after Trump Calls to Offer Heartfelt Condolences The Angel Family of Rachel Morin says they are “deeply touched” after former President Donald Trump personally called them to offer condolences.READ THE FULL REPORT Supreme Court Upholds Conviction of Drug Mule Caught with Meth at Southern Border The Supreme Court, in a six-to-three decision, overturned a drug mule’s conviction, citing that expert testimony from a Homeland Security Investigations (HSI) special agent violated federal evidentiary rules.READ THE FULL REPORT Whoopi Goldberg: ‘Fauci Is One of the Classiest People I’ve Ever Watched’On Thursday’s episode of ABC’s “The View,” co-host Whoopi Goldberg praised former White House Chief Medical Advisor Anthony Fauci, calling him “one of the classiest people.”READ THE FULL REPORT JUST IN: FBI Conducts Raid on Home of Democrat Mayor of Oakland On Thursday morning, FBI agents conducted a raid at the residence of Oakland Mayor Sheng Thao, who is a Democrat.READ THE FULL REPORT VIEW MORE NEWS

end

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

CANADA/CHINA/EU

Canada Set To Follow US, EU Lead On Hiking Tariffs On Chinese-Made EVs

SATURDAY, JUN 22, 2024 – 07:35 AM

First it was the EU and the US, now it looks like Canada could be next to weigh tariffs on Chinese made electric vehicles.

Justin Trudeau’s government is considering new tariffs on Chinese-made electric vehicles to align with US and EU actions, according to a new report this week by Bloomberg.

An announcement about public consultations on these tariffs is expected soon, despite the fact that no final decisions have been rendered, the report said, citing people familiar with the matter.

Bloomberg reported that Trudeau faces growing pressure to follow President Biden’s lead, who in May announced plans to nearly quadruple tariffs on Chinese-made EVs to 102.5%.

Both the US and the EU are worried about China flooding the market with cheap supply of EVs and undermining their domestic industries, with seasoned Chinese EV companies like BYD now aggressively entering global markets.

The report says that on Thursday, Ontario Premier Doug Ford accused China of exploiting low labor standards and dirty energy to produce cheap EVs and urged Trudeau’s government to match Biden’s tariffs.

“Unless we act fast, we risk Ontario and Canadian jobs,” he said on X.

Meanwhile, Chinese EV imports to Canada soared to C$2.2 billion last year from less than C$100 million in 2022, with a fivefold increase in cars arriving at Vancouver after Tesla began shipping Model Y vehicles from Shanghai, the report says.

The Canadian government’s main concern isn’t Tesla but the potential influx of cheap Chinese-made cars. Trudeau and his ministers have said they are monitoring other countries’ actions but haven’t committed to new tariffs. Trudeau mentioned significant discussions about Chinese production at the recent G7 summit in Italy.

A spokesperson for Finance Minister Chrystia Freeland stated that Canada is “actively considering next steps to counter Chinese oversupply” without specifying if tariffs are planned.

Freeland’s press secretary said: “China has an intentional, state-directed policy of overcapacity. Protecting Canadian jobs, manufacturing, and our free trade relationships is essential.”

Recall we wrote days ago that the tariffs were only expected to slow, but not stop, Chinese EV sales in Europe. Nikkei Asia said that manufacturers like BYD will remain competitive against local producers despite the tariffs.

Eugene Hsiao, head of China autos at Macquarie Capital, told Nikkei: “BYD’s cost advantage is high enough that they can profitably export even at a 35% tariff.”

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

EURO VS USA DOLLAR: 1.0731 UP .0043

USA/ YEN 159.55 DOWN 0.081 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//

GBP/USA 1.2661 UP .0022

USA/CAN DOLLAR: 1.3677 DOWN .0006 (CDN DOLLAR UP 6 BASIS PTS)

Last night Shanghai COMPOSITE CLOSED DOWN 35.04 PTS OR 1.17%

Hang Seng CLOSED UP 0.81 PTS OR 0.00%

AUSTRALIA CLOSED DOWN 0.81%

// EUROPEAN BOURSE: ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES: ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 0.81 PTS OR 0.00 %

/SHANGHAI CLOSED DOWN 35.04 PTS OR 1.17%

AUSTRALIA BOURSE CLOSED DOWN 0.81%

(Nikkei (Japan) CLOSED UP 208.18 PTS OR 0.54%

INDIA’S SENSEX IN THE GREEN

Gold very early morning trading: 2325.00

silver:$29.57

USA dollar index early MONDAY morning: 105.22 UP 5 BASIS POINTS FROM FRIDAY’s CLOSE.

MONDAY MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing MONDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 3.143% DOWN 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.967% UP 2 AND 3/ 100 BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.330 DOWN 1/2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.944 UP 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.4060 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY

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

Euro/USA 1.0688 DOWN 0.0017 OR 17 basis points

USA/Japan: 159.49 UP 0.508 OR YEN IS DOWN 51 BASIS PTS

Great Britain 10 YR RATE 4.126 UP 3 BASIS POINTS //

Canadian dollar UP .0021 OR 9 BASIS pts to 1.3715

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2610 (ON SHORE)

THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2902)

TURKISH LIRA: 32.89 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield at +0.982…

Your closing 10 yr US bond yield DOWN 3 in basis points from FRIDAY at 4.231% //trading well ABOVE the resistance level of 2.27-2.32%)

USA 30 yr bond yield 4.354 DOWN 3 in basis points /12.00 PM

USA 2 YR BOND YIELD: 4.703 DOWN 1 BASIS PTS.

GOLD AT 11;30 AM 2332.00

SILVER AT 11;30: 29.60

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

London: CLOSED UP 47.83 PTS OR 0.53%

German Dax : CLOSED UP 162,06 PTS OR 0.89%

Paris CAC CLOSED UP 78.32 PTS OR 1.03 %

Spain IBEX CLOSED UP 139,80 OR 1.27%

Italian MIB: CLOSED UP 626.14 PTS OR 1.58% PTS

WTI Oil price 80.96 12EST/

Brent Oil: 85.42 12:00 EST

USA /RUSSIAN ROUBLE /// AT: 88.62 ROUBLE UP 0 AND 36/100

GERMAN 10 YR BOND YIELD; +2.4285 UP 2 BASIS PTS.

UK 10 YR YIELD: 4.1060 UP 0 BASIS POINTS

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0737 UP 0.0049 OR 49 BASIS POINTS

British Pound: 1.2688 UP 0.0050 OR 50 basis pts

BRITISH 10 YR GILT BOND YIELD: 4.1094 UP 1 BASIS PTS//

JAPAN 10 YR YIELD: 0.982%

USA dollar vs Japanese Yen: 159.63 DOWN 0.0300 YEN UP 3 BASIS PTS//

USA dollar vs Canadian dollar: 1.3655 DOWN 0027 //CDN dollar UP 27 BASIS PTS

West Texas intermediate oil: 81.66

Brent OIL: 86,03

USA 10 yr bond yield DOWN 3 BASIS pts to 4.231

USA 30 yr bond yield DOWN 3 BASIS PTS to 4.365%

USA 2 YR BOND: DOWN 1 PTS AT 4.723

USA dollar index: 105.12 DOWN 32 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 32.91 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE: 87.55 UP 1 AND 01/100 roubles

GOLD 2,333.20 3:30 PM

SILVER: 29.55 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 260.88 PTS OR 0.067%

NASDAQ DOWN 225.81 PTS OR 1.15 %

VOLATILITY INDEX: 13.39 UP 0.19 PTS OR 1.41%

GLD: $215.63 UP 0.85 OR 0.40%

SLV/ $27.00 UP 0.02 OR 0.24%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

“Sell Big-Tech & Bitcoin, Buy Everything Else…”

MONDAY, JUN 24, 2024 – 04:00 PM

Goldman’s trading desk summed up the market theme perfectly today: “sell tech and buy everything else”…

Energy and Regional Banks notably outperforming, while big-tech was trounced…

Source: Bloomberg

Since Juneteenth, we have seen AI-stocks monkey-hammered relative to Ai-at-Risk names…

Source: Bloomberg

With NVDA down over 16% from its highs on Thursday…

Dragging MAG7 stocks down to pre-CPI-spike levels…

Source: Bloomberg

…as the ‘most shorted’ stocks saw a big squeeze today…

Source: Bloomberg

GLP-1 stocks ripped today on Sleep Apnea and some kidney disease studies… is there nothing these drugs can’t cure? Or maybe Obesity is really the root of all healthcare after all (just don’t say that during a pandemic)…

Source: Bloomberg

Which left Small Caps and The Dow outperforming; Nasdaq the biggest loser, and a late-day purge sent everything lower into the close, dragging the S&P 500 red…

And before we shift our gaze to non-equity markets, we note that the equal-weighted S&P 500 is back at its weakest level ‘since Lehman’ relative to the market-cap-weighted S&P 500…

Source: Bloomberg

Treasuries were modestly bid today with the long-end outperforming (sold during early Europe and bid during late US session). However, their general range was far less noticeable relative to equities…

Source: Bloomberg

The dollar dumped today back to last week’s lows…

Source: Bloomberg

…and that helped support gold (which still remains well down from Friday’s highs…

Source: Bloomberg

…and helped crude, with WTI pushing up against its highest levels since April……

Source: Bloomberg

Bitcoin was not so lucky as FUD over Mt.Gox supply sent the largest crypto currency reeling back down below $60,000…

Source: Bloomberg

…its lowest since early May (as ETF outflows continue)…

Source: Bloomberg

Finally, amid all this malarkey, there is one more pillar of irrational support for sky-high valuations that is about to evaporate (albeit briefly)…

zerohedge

@zerohedge

80% of the S&P has entered buyback blackout window: Goldman

8:22 AM · Jun 24, 2024

84K Views

After Friday’s ‘gamma unclenching’, the death of the banal bid from corporates could just be the catalyst for some catch-down to reality.

MORNING TRADING//

AFTERNOON TRADING///

II USA DATA

III USA ECONOMIC COMMENTARIES

Affordability, Charging-Infrastructure, & Range-Anxiety Continue To Keep Americans From Fully Embracing EVs

SATURDAY, JUN 22, 2024 – 12:15 PM

While the US and the EU look at different ways to add tariffs to China-made electric vehicles to prevent supply disruption, the reality is that overall demand for EVs appears as though it is starting to peak.

Such was the topic of a new FT report that looked into why Americans aren’t buying more electric vehicles.

“It’s just not accessible to us at this point in our life,” one couple told FT, who said they were looking for a more affordable vehicle. They went with a $19,000 Honda Accord after a trade-in, since only five new EV models under $40,000 have hit the market in 2024, the report says.

FT reported that high car prices and rising interest rates, which increase monthly lease payments, combined with concerns about driving range and charging infrastructure, have dampened buyers’ rush to buy EVs, even among environmentally conscious consumers.

Everett Eissenstat, a former senior US Trade Representative told FT: “There is no question that this slows down EV adoption in the US. We are just not producing the EVs the consumers want at a price point they want.”

Lack of charging infrastructure and range anxiety also remain concerns. Overnight home charging is ideal for EV owners, but those in apartments, especially in states like California, rely on public chargers. The U.S. has 64,000 public charging stations, compared to 120,000 petrol stations, with only 10,000 being fast chargers. As we noted weeks ago, the Biden’s administration’s plans to build charging infrastructure have been an abject failure.

EV buyers are also concerned about limited range, long-distance travel, cold weather, and towing reducing battery life.

“What we’re seeing is the pace of EV growth is faster than the rate of publicly available charger growth,” said John Bozzella, chief executive of US auto trade group the Alliance for Automotive Innovation.

The Biden Administration, meanwhile, has been tackling Chinese supply with tariffs. Last month, the administration imposed new tariffs on Chinese imports, including a quadrupling of tariffs on electric vehicles, a tripling on lithium-ion batteries to 25%, and a new 25% tariff on graphite used in batteries, the report noted.

“This sends a clear signal to China: don’t even think about exporting your cars to the United States,” Wendy Cutler, a former trade official and vice-president of the Asia Society Policy Institute said.

Jennifer Harris, a former economic adviser to Biden added: “The idea that we should just open our gates and have a bunch of systematic Chinese economic abuses …and that that’s the answer to climate change is incredibly naive and short-sighted.”

But these tariffs could prevent prices from falling, according to Ilaria Mazzocco, chair in Chinese business and economics at CSIS.

“It’s not just that the same car costs less in China, it’s that in China you have a wider variety. US automakers will have the leisure of not having competition, and they’ll be able to focus on making these high-cost trucks,” Mazzocco said.

And so, the FT report notes that while EV technology and popularity are growing, sales growth has slowed. As a result, automakers are reconsidering manufacturing plans, shifting focus from EVs to combustion and hybrid cars for the US market.

EVs are caught between President Biden’s goals of tackling climate change and protecting American jobs. Biden aims to cut US greenhouse gas emissions by 50-52% below 2005 levels by 2030, with widespread EV adoption being crucial. However, he wants to avoid imports from China, the largest EV producer and key raw material supplier.

Analysts warn that this protectionism could increase EV prices in the US, potentially stalling sales and leaving the US behind China and Europe in EV adoption.

Meanwhile, the World Resources Institute states that 75-95% of new passenger vehicles need to be electric by 2030 to meet Paris agreement goals.

END

California Reveals All Job Gains In 2023 Were Fake

SUNDAY, JUN 23, 2024 – 10:14 PM

In the past year we have discussed on multiple occasions that US labor market data has been repeatedly doctored to artificially appear better than it really is (see “Here Is The “Unexpected” Reason Why The Fed Will Rush To Cut Rates As Soon As Possible“, “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000” and “Here Comes The Job Shock: Philadelphia Fed Admits US Jobs “Overstated” By At Least 1.1 Million“), although thanks to a quirk of BLS data revision reporting, we won’t have definitive proof of just how ugly the real job market has been in recent years until some time in 2025, well into Trump’s second administration.

However, while the BLS will be able to maintain the facade of “strong job gains” lies into early 2025, the dismal reality has already made an appearance in America’s largest labor market.

According to the latest report published by the non-partisan California Legislative Analyst’s Office (LAO) which is an agency of the California government, is overseen by the Joint Legislative Budget Committee of the California State Legislature, and performs and publishes extensive analyses of the state’s budget in addition to providing fiscal and policy advice to the California Legislature, contrary to prior reports of over substantial job gains in the deep blue state in 2023, the reality was far uglier.

In a report titled “Newest Early Jobs Revision Shows No Net Job Growth During 2023” we learn just that: the Early Revisions to state-level data flagged here previously, suggests that California actually lost jobs during the fourth quarter of last year. As the report details, “based on the most recent release of the early benchmarks, payroll jobs declined by 32,000 from September 2023 through December 2023. On the contrary, the preliminary monthly reports showed a solid increase in job growth (+117,000 jobs) at the time.”

This, according to the LAO, means that “with the fourth quarter revision, calendar year 2023 saw essentially no net job growth (+9,000 jobs overall).“

For those unfamiliar with the sequence of revisions to the jobs data, here is a quick primer from the LAO:

Monthly State Jobs Estimates Are Revised Annually. Each month our office publishes the most recent state employment figures from the the Current Employment Statistics (CES) survey. State employment figures come from this monthly survey, which is based on a small sample of businesses in the state. As a result, once per year the U.S. Bureau of Labor Statistics (BLS) does a benchmark revision, updating the monthly CES estimates to match more reliable administrative data from states’ Unemployment Insurance programs.

Federal Researchers Now Publishing Quarterly Revisions. Although the BLS only revises the state-level CES once per year, the underlying data used to revise the CES survey is collected quarterly. Taking advantage of this asynchrony, in 2021, researchers at the Federal Reserve Bank of Philadelphia began publishing state-level “early revisions” based on the same underlying data but revised more frequently.

In any event, the huge delta between the previously reported, CES survey-based fake Q4 numbers and the actual, post revision numbers is shown in the gray highlight in the chart below.

The data since January 2024 has not yet been rebenched, which means that the figure includes the Early Benchmark Revision for these recent months are growing at the same rate as the official CES estimates. But one can be absolutely certain that once the next set of revisions come in, California will not have generated any actual job growth for the second year in a row. In fact, make that all of America.

Of course, the shocking ‘realization’ that inflation-sparking Bidenomics was a complete disaster for the US labor market won’t be disclosed until well into Trump’s second (technically third) term. By then Biden, and his catastrophic economic policies, will be long forgotten.

Source: Legislative Analyst’s Office

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

END

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

Biden Admin Asked Amazon To Hide Vaccine Critical Books During Pandemic

BY TYLER DURDEN

SUNDAY, JUN 23, 2024 – 05:30 PM

Authored by Steve Watson via modernity.news,

The Biden Administration pressured Amazon to hide books for sale on its platform that were critical of vaccines during the pandemic, it has been revealed.

The findings were presented by the House Judiciary Committee and Subcommittee on the Weaponization of the Federal Government in documents that show Amazon reduced the visibility of titles that the government deemed overly critical of big pharma shots.

The documents show that some books were simply generally critical of vaccines, with several written by medical professionals. Some were even just reviews of scientific studies.

The Federal government compiled a “Do Not Promote” list, to which more than 40 titles were added.

In a series of X posts, Judiciary Committee Chair Rep. Jim Jordan explained how internal emails from Amazon contain employees revealed that “the impetus for this request is criticism from the Biden Administration.”

Internal emails reveal that Amazon initially added 43 books to its newly created “Do Not Promote” class of allegedly anti-vaccine books.

These pro-censorship changes were being made “due to criticism from the Biden people.” pic.twitter.com/495klI0Djz
— Rep. Jim Jordan (@Jim_Jordan) June 21, 2024

They even targeted a children’s book that they deemed to be too friendly toward the unvaccinated.

There is a deep irony attached to this story in that the Biden Administration has repeatedly accused Republicans of trying to ‘ban’ books nationwide.

Creepy Video: Vermont Dems Push Bill Against Gay Porn ‘Book Bans’ In Children’s Libraries

While in almost all of these cases, the likes of Florida governor Ron DeSantis were expressing opposition to school libraries carrying sexually explicit books aimed at children, it turns out the Biden Administration was actively working to censor books for adults.

end

END

FREIGHT ISSUES/USA

END

VICTOR DAVIS HANSON OR NEWT GINGRICH

END

SWAMP NEWS

KING REPORT

The King Report June 24, 2024 Issue 7269

Independent View of the News

Friday’s King Report: Because most – by a large margin – traders are long stuff for the June expiration, it will take a massive effort to force stuff higher into what should be enormous retail liquidation. Traders expect June equity futures owners to replace their equity exposure on or near the NYSE opening, which is settlement.  If a whale or two does NOT surface to manipulate stuff higher, look out below! 5505.53, the S&P 500 Index high (all-time and from yesterday) is important resistance today.

Apple rallied early on Friday because Bernstein raised its target price to $240 from $195. But Apple rescinded most of its rally on this: Apple Won’t Roll Out AI Features in EU This Year Because of DMA (Digital Markets Act ‘forces Apple to downgrade security of products) – BBG 12:30 ET
ESUs vacillated between modest gains and losses during Nikkei trading on Friday. After the 1 ET Nikkei close, the rally for the 3 ET European opening developed. The rally was modest and made a daily high of 5550.75 at 2:13 ET. ESUs then sank to 5527.00 at 4:37 ET. A choppy rally on buying for the NYSE opening pump & dump, plus expected buying to replace expiring June futures, took ESUs to 5543.75.

Alas, the dump commenced early; too many traders were massively long stuff. ESUs tumbled to a daily low of 5519.00 at 9:45 ET. Conditioned buying and manipulation to salvage expiring June calls forced ESUs to 5545.75 at 12:05 ET. Selling resumed; ESUs fell to 5524.24 at 13:32 ET.

A moderate 5-wave rally took ESUs to 5537.75 at 15:05 ET. ESUs then traded within a 6-handle range until they slid to 5530.00 at 15:50 ET. Someone then manipulated ESUs to 5441.75 at 15:54 ET. Sellers, who apparently lay in wait, unloaded. ESUs sank to 5529.50 at 16:00 ET.

US equity funds witness outflows for second successive week http://reut.rs/3Vs6pWk

@unusual_whales: US stocks’ short interest is hovering near a two-decade low, per Bloomberg: https://t.co/bXsiJ8p9Z1

Cash is leaving China again, pressuring yuan (7-month low)
Foreigners who had returned to the market since February, after quitting in 2023, have turned sellers too this month, pulling out 33 billion yuan ($4.54 billion) via the northbound leg of the Stock Connect Scheme. Domestic investors have used the southbound leg to pump 129 billion yuan into Hong Kong…
https://www.reuters.com/markets/currencies/cash-is-leaving-china-again-pressuring-yuan-2024-06-21/

@texasrunnerDFW: Up until 1983, home prices were included in the CPI calculation. Those who say, “inflation today isn’t nearly as bad as the 1970s” are comparing apples to oranges.  If we put home prices back into today’s CPI, we’re running closer to 6%.  https://x.com/texasrunnerDFW/status/1804516958622114240

@McClellanOsc: Lumber futures prices are falling hard this week, as it sinks in that a recession is coming, especially in housing.  https://x.com/McClellanOsc/status/1804301156673528127

Biden Allows Iran to Run Voter Stations On U.S. Soil for The Islamic Republic’s Presidential Election  https://www.dailywire.com/news/biden-allows-iran-to-run-voter-stations-on-u-s-soil-for-the-islamic-republics-presidential-election-report

Positive aspects of previous session
The DJIA and DJTA were relatively strong again. Google, Tesla, and Amazon rallied smartly

Negative aspects of previous session
Fangs declined, led by Nvidia (-4.95% at low, 9:52 ET)
The S&P 500 Index and Nasdaq declined; no expiry-day upward squeeze

Ambiguous aspects of previous session
Commodities declined; good (lower inflation) or bad (recession angst) news?
USMs were -1/32 at the NYSE close

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

Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5478.11
Previous session S&P 500 Index High/Low: 5478.31, 5452.03

@robinmonotti: “NO EXTENSION OF NATO’S JURISDICTION FOR FORCES OF NATO ONE INCH TO THE EAST of a unified Germany” – US Secretary of State Baker to Gorbachev, 1990
https://x.com/robinmonotti/status/1804268234709074087
    Declassified documents show security assurances against NATO expansion to Soviet leaders from Baker, Bush, Genscher, Kohl, Gates, Mitterrand, Thatcher, Hurd, Major, and Woerner…
    The documents reinforce former CIA Director Robert Gates’s criticism of “pressing ahead with expansion of NATO eastward [in the 1990s], when Gorbachev and others were led to believe that wouldn’t happen.”…  https://x.com/robinmonotti/status/1804454904196424022

@seanmdav: Is there a new leaker at the Supreme Court?
Just days ago, the Biden regime announced a radical new executive order to legalize the immigrant spouses of citizens, even if those immigrants were in the U.S. to commit crimes or were here legally. It was very strange timing for such an oddly specific EO.
    Now we know why: the Supreme Court ruled today in a 6-3 decision that the U.S. is not required to admit immigrant spouses of American citizens in a case involving an MS-13 member whose spouse was a U.S. citizen and who demanded legalization…
    Somebody at the White House was clearly tipped off about the unannounced Supreme Court decision, which explains why the White House rushed out such a shoddily written and argued new executive order to open the border even more: the Biden regime knew how the Supreme Court was going to rule, and it sought to pre-empt the court with its absurd EO. So, the question now is: who, exactly, is leaking information on rulings to the Biden White House?  https://x.com/seanmdav/status/1804163183315140786

@seanmdav: In 6-3 decision issued today, the Supreme Court ruled that 1) a jury must be unanimous in its findings on criminal convictions, and 2) sentencing enhancements cannot be arbitrarily implemented by judicial fiat. The ruling and the rhetoric in the opinion have obvious implications for both the illegal Bragg witch trial against Trump in New York City and the bogus J6 1512(c) charges and sentencing enhancements that corrupt federal judges have announced they will implement if the Supreme Court nukes 1512(c).

How Biden DHS ‘intel experts group’ plotted to get ‘mothers and teachers’ to report dissent
The panel, created in September of last year to ostensibly “provide advice and perspectives on intelligence and national security efforts,” included Obama-era CIA Director John Brennan and ex-Director of National Intelligence James Clapper, both of whom flaunted their intelligence credentials on the eve of the 2020 election to falsely claim The Post’s reporting on Hunter Biden’s laptop was Russian disinformation… The problem, one attendee summarized, was: “How do people safely report a concern about their neighbors?”  One solution proposed at the meeting was to reclassify political dissent as a “public health” crisis to encourage Americans to report family members or neighbors to the federal government if they displayed “concerning” behavior… (Stasi/KGB in the USA!) https://trib.al/Ovo9S2u

TX State Sen. @TeamBettencourt: This is a really chilling story by @MirandaDevineof the NY Post
about the Joe Biden Administration’s DHS since-disbanded “Homeland Intelligence Experts Group” who plotted and planned to persuade mothers and teachers to inform on parents and students suspected of “domestic extremism.” Wow, this is not a SCI-FI script…but actual Federal Government records from open records requests!  If national politics wasn’t in such a frothy state, this type of blatant civil rights violation of American’s Constitutional rights would be coast-to-coast news..!

Netanyahu Says Major Operations in Gaza Will End ‘Very Soon’ – BBG Sunday 1827 ET
Netanyahu said the next step for the military will be for Israel to redeploy some forces to the north… “If we can, we’ll do this by diplomatic means, if not it’ll be achieved in another way,” Netanyahu said…

@Callum_Thomas: The S&P500 market cap *minus the S&P100* weighting is at a 50-year low.
https://x.com/Callum_Thomas/status/1805010353086214549

Japan’s Kanda: Ready to Intervene 24 Hours a Day If Needed – BBG Sunday 19:01 ET

Today – Traders will play for the Monday Rally. When expiry is soft due to an enormous volume of expiring options, stocks tend to rally during the next session on the abatement of selling pressure.

NQUs are +34.00; ESUs are +3.25; USUs are +1/32; and gold is -0.50 at 21:30 ET.

Expected econ data: June Dallas Fed Mfg. Activity -15.0; Fed Gov. Waller 3 ET, SF Fed Pres Daly 14 ET

S&P Index 50-day MA: 5232; 100-day MA: 5166; 150-day MA: 5009; 200-day MA: 4841
DJIA 50-day MA: 38,746; 100-day MA: 38,820; 150-day MA: 38,169; 200-day MA: 37,081
(Green is positive slope; Red is negative slope)

S&P 500 Index (5464.62 close) – BBG trading model Trender and MACD for key time frames
Monthly: Trender and MACD are positive – a close below 4750.24 triggers a sell signal
Weekly: Trender and MACD are positive – a close below 5211.96 triggers a sell signal
Daily: Trender and MACD are positive – a close below 5382.53 triggers a sell signal
Hourly: Trender and MACD are negative – a close above 5492.69 triggers a buy signal

Trump, because it’s his nature to be a flighty blowhard, ran his gargantuan mouth on some relatively obscure podcast (Thursday) and created a firestorm among his supporters.

Donald Trump’s Immigration Plan Sparks MAGA Fury
Speaking on the All-In Podcast, the Republican presidential hopeful known for his hardline immigration policies described a plan to help the United States import and retain high-skilled workers…
    “What I want to do, and what I will do, is—you graduate from a college, I think you should get automatically, as part of your diploma, a green card to be able to stay in this country,” Trump said. “And that includes junior colleges, too.”…
    “Stapling green cards to college degrees is a bad idea from Trump,” conservative commenter Ashley St. Clair said on X, formerly Twitter. “Why would we make citizenship contingent on graduation from captured institutions where kids are taught to not only hate America + the West, but that there is a moral imperative to dismantle both? We need great talent to come here legally, but guaranteeing citizenship through completely captured institutions is not the way!”…
https://www.msn.com/en-us/news/politics/donald-trump-s-immigration-plan-sparks-maga-fury/ar-BB1oEOLW

Team Trump quickly tried to mitigate Mighty Mouth’s mistake: @G_Slattery: Trump spokesperson @kleavittnh on latest immigration proposal. Says would only apply to “most thoroughly vetted” college grads, who wouldn’t undercut wages. (Total BS about wages!)
(Full statement at link) https://x.com/g_slattery/status/1803929334358372815

DeSantis signed a law directing hospitals to ask about immigration status. Medicaid spending on undocumented immigrants plummeted (54%).
https://www.politico.com/news/2024/06/23/desantis-florida-medicaid-immigration-00164519

Migrant Medicaid costs cut in half in Florida following DeSantis’ policy change: report
DeSantis signed a law last year that directed hospitals that accept Medicaid to ask patients about their immigration status… While federal law does ban undocumented migrants from being eligible for Medicaid, it provides a carveout that requires states to offer limited coverage to migrants facing a medical emergency… https://t.co/uDu0NT6s4v

@RNCResearch: Biden arrives at Camp David, where he’ll be holed away — and heavily doped up — ahead of the debate. He has zero public events on his schedule until Thursday.
https://x.com/RNCResearch/status/1803976063413825965

@America1stLegal: Internal docs from Biden’s DHS show their plans to target Trump supports as domestic extremists. The Brennan-Clapper intel group discussed how “most of the domestic terrorism threat now comes from supporters of the former president.”  https://x.com/America1stLegal/status/1804115251513753885

Dem staffer blasted for spending habits after going viral for thanking Biden for erasing $8K student debt – House staffer Ben Kamens sparked a social media firestorm earlier this week thanking President Biden for erasing his student loans… The criticism of Kamens intensified when social media users noticed past posts that showed Kamens posting at high-priced restaurants and purchasing high-dollar items… https://www.foxnews.com/politics/dem-staffer-blasted-spending-habits-after-going-viral-thanking-biden-erasing-8k-student-debt

Snopes’ debunking of Charlottesville hoax shows Biden lied, says Trump campaign
‘The Charlottesville lie was another hoax perpetuated by the corrupt Democrats,’ says Trump spox…
    “While Trump did say that there were ‘very fine people on both sides,’ he also specifically noted that he was not talking about neo-Nazis and White supremacists and said they should be ‘condemned totally’…
https://www.foxnews.com/politics/snopes-debunking-charlottesville-hoax-shows-biden-lied-says-trump-campaign

GOP @RepLuna: Garland is now calling Republican members of congress pressuring them to NOT vote for inherent contempt. This is the definition of corruption. He thinks he is above the law and can tell members of congress what to do.

@OliLondonTV: This is Biden’s new White House Associate Communications Director- Tyler Cherry.

• Identifies as Non-binary
• Called for the abolishment of Police
• Supports BLM
• Referred to Palestine extremists as ‘Resistance.’
• Virulently Anti-Israel on X
• Called police ‘slave patrols’
• Anti-capitalist
• Against weapons being sent to Israel

• Called extremist antisemite Linda Sarsour a ‘fierce Muslim woman’ and praised her for ‘resistance’ despite the woman being arrested for organizing multiple extremist protests.
https://x.com/OliLondonTV/status/1804888120678113489

@JoelWBerry: I’m convinced half the White House hires are designed to make the President look like less of a perv by comparison.

Illegals charged with murder, rape and kidnapping in a week of shocking crimes across the US
Rachel Morin’s Maryland murder and attacks on children in Houston, NYC and Indiana
https://www.foxnews.com/us/illegals-charged-murder-rape-kidnapping-week-shocking-crimes-across-us

There have been at least 4 major stories about illegal immigrants raping American women and children SINCE LAST WEEKEND    https://notthebee.com/article/there-have-been-at-least-4-major-headlines-of-illegal-immigrants-raping-american-women-and-children-since-last-weekend

@stclairashley: Hundreds of thousands of women in pink hats marched bc Harvey Weinstein traded sex for movie roles but those women have nothing to say about the actual rape crisis happening in America + Europe as a result of the men from cultures who have no concept of consent invading en mass.

The AP gets backlash for skipping details about a girl allegedly murdered by illegal aliens https://t.co/df9i5wBlGj

@libsoftiktok: 7-year-old Jai’mani Amir Rivera was gunned down in broad daylight as he left his home in Chicago by a 16-year-old criminal who had 2 active warrants out for his arrest. The killer was also reportedly out on the streets on pretrial release for a robbery case. This is what Democrats have turned Chicago into. Kids can’t leave their homes without getting shot. Keep dangerous criminals in prison!!!

@EndWokeness: This is so insane. Beyond words. 8 out of the 9 migrants convicted for gang r*ping a German girI got spared jail time.  Meanwhile, a 20-year-old German girI was sent to prison for saying “hateful remarks” about it.    https://www.thepublica.com/germany-woman-convicted-of-offending-migrant-gang-rapists-receives-longer-prison-sentence-than-the-rapists/

“Until they become conscious, they will never rebel, and until after they have rebelled, they cannot become conscious.” – George Orwell in “1984”

GREG HUNTER INTERVIEWING BILL HOLTER

No Way Financial System Survives – Bill Holter

By Greg Hunter On June 22, 2024 In Market Analysis69 Comments

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Financial writer and precious metals broker Bill Holter has been documenting all the unpayable debt that has been building up in the financial system like cancer. The latest black hole of default is coming from a big bank in Japan. Norinchukin Bank is selling $63 billion in Treasuries and other sovereign bonds to stay afloat. Then there is recent news announced by the FDIC that 63 US banks (the names are being kept secret) have more than $500 billion in losses, and let’s not forget about the trillions in losses sitting on the books of European banks ready to suck the world into a black debt hole. This is just a few of many on a long list of destabilizing problems that can tank the entire over-indebted financial system. Holter warns, “The list is so long, it could be a banking problem. It could be a derivatives problem. It could be a derivatives problem in the stock market, the bond market and you could see a failure to deliver in silver. Some type of warfare could crash the system. You could see warfare in Ukraine, Israel or Tiawan. The system is so unstable, at this point, it could be anything that could bring it down. Unpayable debt is not just a US problem. This is all over the world. Central banks are having to issue huge amounts of debt because we are in the exponential decay phase. We are exactly where Richard Russell said we would be 20 years ago. It’s inflate or die, and the only way to inflate is to create more money supply.”

Add to that the $10 trillion in debt the US Government has to roll over by the end of the year. Meanwhile, the US government piles on $1 trillion in new debt every 100 days. What could go wrong?

Holter said the last time he was on USAW that there was a little less than a 50% chance we would even have an election. Now, he predicts it is more likely there will be no 2024 Presidential Election. Holter says, “There is no way the system, as it is now, survives. It’s mathematically impossible. So, if it is mathematically impossible, are they going to blow smoke . . . up until the day it blows up? Or are they going to do something to blow it up and then say our programs and policies were working except for XYZ this or whatever. They have to kick the table over. They cannot allow the table to fall over on its own because then there is going to be finger pointing. To avoid the finger pointing, they have got to kick the table over.”

Holter also thinks gold is going to exponential numbers to back all the debt the USA has. If you go with the 8,030 tons of gold the government claims is in Fort Knox, you will need a dollar price of gold at “$125,000 per ounce for 100% gold backing of the dollar.”

Holter also says, “The dollar is being pushed out of the global financial system. . . . Demand for dollars is shrinking at a time when borrowing demand is rising.” This is a going to be a disaster for America and anyone holding dollars in the future.

In closing, Holter says, “The financial collapse that is coming will be worse than anything we have ever experienced. This is going to be far worse than the Great Depression simply because society itself is far worse. . . . Back in the Great Depression, you had neighbors helping neighbors. Today you will have neighbors picking on other neighbors like vultures.”

There is much more in the 51-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer and precious metals expert Bill Holter for 6.22.24.

(To Donate to USAWatchdog.com Click Here)

usawatchdog.com/no-way-financial-system-survives-bill-holter/

After the Interview:

Bill Holter’s website just keep getting more and more viewers, and it’s still free. It’s called BillHolter.com.

If you need to contact Bill Holter, his email is bholter@proton.me .

SEE YOU ON TUESDAY

JUNE 24////GOLD CLOSED UP $14.30 TO $2332.20 WHILE SILVER CLOSED DOWN 5 CENTS TO $29.51//PLATINUM CLOSED UP $1.50 TO $998.10 WHILE PALLADIUM WAS UP $47.80 TO $996.20//FINALIZED

GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 66 NOTICES FOR 6600 OZ or 0.2053 TONNES

total notices so far: 30,347 contracts for 3,034,700 Oz (94.392 tonnes)

FOR JUNE:

SILVER NOTICES: 13 NOTICE(S) FILED FOR 65,000

OZ/

total number of notices filed so far this month :1331 for 6.655 million oz

Von Greyerz: As Dominoes Fall, Gold Will Stand Stronger Than Ever

FALL OF THE LEADERSHIP DOMINO

FALL OF THE CURRENCY & DEBT DOMINOES

FALL OF THE ASSET DOMINO

FALL OF THE NUCLEAR WAR DOMINO

WEALTH PRESERVATION FOR FINANCIAL SURVIVAL

THE REAL MOVE IN GOLD AND SILVER HASN’T STARTED YET

WEALTH PRESERVATION AND LIFE’S PRIORITIES

That Farage statement about Ukraine

Nigel Farage said that the West provoked Russia’s invasion of Ukraine, and the Westminster village and mainstream media have condemned him for it. Why did he say it?

Maguire, Macleod discuss monetary metals’ future on ‘Live from the Vault’

Official gold data is no good, GATA secretary tells Soar Financially’s Kai Hoffman

Futures Flat As Nvidia Slides For Third Day

Sentiment improves with equities on the front foot whilst Dollar slips ahead of Fed speak – Newsquawk US Market Open

EUROPEAN TRADE

EQUITIES

FX

FIXED INCOME

COMMODITIES

GEOPOLITICS

CRYPTO

APAC TRADE

Rafah Crossing Now Completely Destroyed & No Longer Usable For Gazans Seeking Exit

Hezbollah Shows Off Israeli Target Bank Of Sensitive Sites In New Video Warning

Two Distress Calls: UK Navy Reports Crew Abandoned Ship In Gulf Of Aden, Kamikaze Drone Attack In Red Sea

Netanyahu: Intense Rafah fighting almost over, Hezbollah battle is next

Netanyahu, while interviewing with Channel 14, said that Israel is open to diplomacy but stressed that any resolution would be on Israel’s terms.

Netanyahu speaks of returning residents of northern Israel home

Children Among Mass Casualties After US-Supplied Missile Targets Crowded Crimean Beach

Large Terror Attack On Synagogue & Orthodox Churches In Russia’s Dagestan

Our children’s hearts are under threat!—from (what else?) climate change, and air pollution, say the “experts” at the American Heart Association

The AHA keeps right on playing its part in Operation Herod

American Heart Association raises concerns about growing threat compromising cardiovascular systems of children: ‘Increases the incidence of congenital heart defects’

“It’s up to all of us to take a stand for children’s heart health — and the planet we all share.”

What’s happening?

How should the new 2023-24 COVID-19 vaccinations be given to children?

Myocarditis risk significantly higher after COVID-19 infection vs. after a COVID-19 vaccine

Bowler David Lawrence has motor neurone disease, BBC’s David Owen, weeping, offers cancer update; Michael Flatley blames castle for his cancer; German rocker Hartmut Engler crippled by osteoarthritis

Brazilian rugby’s Raquel Kochhann getting over cancer; footballer Nabil Bentaleb in French hospital with “illness”; Austrian actor Katy Karrenbauer has a stroke; Italian rapper Fedez hit by “illness”

BRAZIL

Coming back from cancer, Brazil rugby sevens star Raquel Kochhann ready to tackle her third Olympics

UNITED KINGDOM

Former England bowler David Lawrence diagnosed with motor neurone disease

BBC presenter Nick Owen breaks down in tears live on air as he gives cancer update

Freya Anderson reveals illness that threw Paris 2024 prep into disarray

IRELAND

Michael Flatley claims his €30m castle is the blame for his cancer diagnosis

FRANCE

Former Tottenham player Nabil Bentaleb hospitalized in France with “illness”

Virus lays flat French national team

NETHERLANDS

Ex-Man Utd boss Van Gaal reveals he has been living with catheters and urine bags for 3 years in emotional cancer update

GERMANY

“Horror year”: Pur frontman breaks his silence and makes diagnosis public

What is China’s role? ‘F.A.A. Investigating How Questionable Titanium Got Into Boeing and Airbus Jets’, The material, which was purchased from a little-known Chinese company,

was sold with falsified documents and used in parts that went into jets from both manufacturers.’ Is there a larger role? FAA must tell us FAST…

Fake fraud PCR-manufactured non-H5N1 pandemic (there is nor will there be a pandemic) but EU securing MILLIONS of vaxx doses to MANUFACTURE the fraud; McCullough gives us excellent scholarship & here

is why: i)Antigen Vaccine Not Tested Against Current Strain of Avian Influenza so out of the gate the vaccine FAILS, a mismatch, does not hit the correct circulating antigen (s) ii)antibody levels as

Canada Set To Follow US, EU Lead On Hiking Tariffs On Chinese-Made EVs

“Sell Big-Tech & Bitcoin, Buy Everything Else…”

Affordability, Charging-Infrastructure, & Range-Anxiety Continue To Keep Americans From Fully Embracing EVs

California Reveals All Job Gains In 2023 Were Fake

Biden Admin Asked Amazon To Hide Vaccine Critical Books During Pandemic

No Way Financial System Survives – Bill Holter

Share this:

Related

Leave a comment Cancel reply

Donate

Archive

Spot Gold

Spot Silver