GOLD PRICE CLOSED DOWN $29.60 TO $2356.10
SILVER PRICE DOWN $0.73 TO $30.62
Gold ACCESS CLOSED $2358.90
Silver ACCESS CLOSED: $30.79
Bitcoin morning price:$57.240 UP 566 DOLLARS. bankers doing a good job destroying the value of bitcoin
Bitcoin: afternoon price: $56,451 DOWN 223 dollars//
Platinum price closing DOWN $31.50 TO $1001.90
Palladium price; down $19.90AT $1011.70
END
SHANGHAI GOLD PREMIUM 44 DOLLARS/COMEX GOLD//august to august
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 08 Jul 2024 11:33:25 AM CT.
Market data is delayed by at least 10 minutes.
*CANADIAN GOLD: $3217.00 DOWN $43.90 CDN dollars per oz( * NEW ALL TIME HIGH 3,305.30 CDN DOLLARS PER OZ//MAY 20 2024)
*BRITISH GOLD: 1841,64 down 24.46 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2179.16 DOWN 2613 Euros per oz //* (ALL TIME CLOSING HIGH: 2248.89 EUROS PER OZ//APRIL 16//.2024)
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END
EXCH: COMEX
EXCHANGE: COMEX
CONTRACT: JULY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,388.500000000 USD
INTENT DATE: 07/05/2024 DELIVERY DATE: 07/09/2024
FIRM ORG FIRM NAME ISSUED STOPPED
118 C MACQUARIE FUT 115
363 H WELLS FARGO SEC 116
624 H BOFA SECURITIES 172
657 C MORGAN STANLEY 19
661 C JP MORGAN 65 11
690 C ABN AMRO 5
737 C ADVANTAGE 25
880 H CITIGROUP 398
TOTAL: 463 463
MONTH TO DATE: 2,689
JPMorgan stopped 11/463
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 463 NOTICES FOR 46,300 OZ or 1.440 TONNES
total notices so far: 2689 contracts for 268,900 Oz (8.3639 tonnes)
FOR JULY:
SILVER NOTICES: 123 NOTICE(S) FILED FOR 0.615 million
OZ/
total number of notices filed so far this month : 5408 for 27.040 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD DOWN $26.60 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/
: NO CHANGES IN GOLD INVENTORY AT THE GLD/
/ /INVENTORY RESTS AT 834,80 TONNES
INVENTORY RESTS AT 834.80 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.73 AT THE SLV//
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.831 MILLION OZ OF SILVER VAPOUR OZ INTO THE SLV//
// INVENTORY LOWERS TO 436.808 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 438.639 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI ROSE BY A HUMONGOUS SIZED 5424 CONTRACTS TO 161,730 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR GAIN OF $0.85 IN SILVER PRICING AT THE COMEX ON FRIDAY’S TRADING ON SILVER. WE HAD ZERO LIQUIDATION AS WE HAD A NET GAIN OF 7128 CONTRACTS ON OUR TWO EXCHANGES. WE, AGAIN HAD CONSIDERABLE SHORT COVERING BY OUR SPECS WITH THE GAIN IN PRICE AS WELL AS MASSIVE T.A.S. LIQUIDATION WHICH ACCOUNTS FOR THE STRONG GAIN ON THE TWO EXCHANGES. WE HAD ANOTHER STRONG SIZED 877 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 AND AGAIN ON YESTERDAY’S TRADING
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT: 877 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 NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.
WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023// OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.85) AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS WE DID HAVE A HUMONGOUS SIZED GAIN OF 7128 CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE OF $0.85.
WE MUST HAVE HAD:
A HUMONGOUS SIZED 1704 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 28.490 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S QUEUE JUMP OF 610,000 OZ
//NEW STANDING FOR SILVER//JUNE IS THUS 29.105 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //HUMONGOUS SIZED EFP ISSUANCE/ VI) HUGED SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 877 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 620 CONTRACTS //
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JULY
TOTAL CONTRACTS for 5 DAYS, total 6329 contracts: OR 31.645 MILLION OZ (1266 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 31.645 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 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)
JULY: 31.645 MILLION OZ
RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5424 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//FRISDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS EFP ISSUANCE CONTRACTS: 1704 ISSUED FOR SEPT 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 JULY OF 28.496 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 610,000 OZ QUEUE JUMP WHERE THEY WILL TRY AND TAKE DELIVERY ON THIS SIDE OF THE POND.
//NEW TOTAL STANDING FOR JULY 29.105 MILLION OZ
WE HAVE A HUGE SIZED GAIN OF 7128 OI CONTRACTS ON THE TWO EXCHANGES WITH THE HUGE GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 877 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX TRADING/// WITH MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND ZERO LIQUIDATION OF LONGS.
THE NEW TAS ISSUANCE FRIDAY NIGHT (877) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 123 NOTICE(S) FILED TODAY FOR 0.615 million OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A HUMONGOUS SIZED 35,403 OI CONTRACTS TO 510,853 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 3213 CONTRACTS
WE HAD A HUGE SIZED INCREASE IN COMEX OI (35,403 CONTRACTS) OCCURRED WITH OUR GAIN OF $29.90 IN PRICE/FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR JUNE AT 7.5645 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 6600 OZ QUEUE JUMP
NEW STANDING 8.463 TONNES
/ ALL OF THIS HAPPENED WITH OUR $29,90 GAIN IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUMONGOUS SIZED GAIN OF 38,340 OI CONTRACTS (139.05 PAPER TONNES) ON OUR TWO EXCHANGES.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 6091 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 507,642
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 38,340 CONTRACTS WITH 35,403 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED 6091 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 38,340 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A STRONG SIZED 2943 CONTRACTS,,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6091 CONTRACTS) ACCOMPANYING THE HUGE SIZED GAIN IN COMEX OI OF 35,403 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 44,707 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 7,5645 TONNES FOLLOWED BY TODAY’S 6600 OZ QUEUE JUMP
//NEW STANDING /JULY 8.463 TONNES.
/ 3) HUGE T.A.S. LIQUIDATION OF CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) HUGE SIZED COMEX OPEN INTEREST GAIN 5) STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///STRONG T.A.S. ISSUANCE: 2943 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 JULY. :
TOTAL EFP CONTRACTS ISSUED: 20,353 CONTRACTS OR 2,035,300 OZ OR 63.306 TONNES IN 5 TRADING DAY(S) AND THUS AVERAGING: 4070 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 5 TRADING DAY(S) IN TONNES 63.306 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 63.306 DIVIDED BY 3550 x 100% TONNES = 1.02% 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 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS
JULY: 63.306 TONNES
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 AUGUST. 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 (AUG), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A HUGE SIZED 5424 CONTRACTS OI TO 161,730 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 1704 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 1704 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1704 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 5424 CONTRACTS AND ADD TO THE 1704 E.FP. ISSUED
WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 7128 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 35.64 MILLION OZ
OCCURRED WITH OUR $0.85 GAIN IN PRICE …..
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 27.48 PTS OR 0.93% //Hang Seng CLOSED DOWN 275.55 PTS OR 1.55% // Nikkei CLOSED DOWN 131.67 OR 0.32%//Australia’s all ordinaries CLOSED DOWN 0.72%///Chinese yuan (ONSHORE) closed DOWN TO 7,2696 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2895/ Oil UP TO 8380 dollars per barrel for WTI and BRENT UP AT 87.23/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A HUGE SIZED 35,403 CONTRACTS TO 507,642 WITH OUR GAIN IN PRICE OF $29.90 WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUGE T.A.S. LIQUIDATION ON FRIDAY’S GAIN IN PRICE WITH ZERO LONGS BEING CLIPPED AND SOME ATTEMPTED SHORT COVERING.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW ENTERING INTO THE NON ACTIVE DELIVERY MONTH OF JULY.… THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 6091 EFP CONTRACTS WERE ISSUED: : AUGUST 6091 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 6091 CONTRACTS.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A HUGE SIZED TOTAL OF 38,340 CONTRACTS IN THAT 6091 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A HUGE SIZED GAIN OF 35,403 COMEX CONTRACTS..AND THIS GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $29.90/FRIDAY COMEX.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT WAS A STRONG SIZED 2943 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 TRADING
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JULY (8.463 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; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 8.463 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $29.90 //// AND WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A HUGE SIZED GAIN OF 44,707 CONTRACTS ON OUR TWO EXCHANGES ACCOMPANYING THE GAIN 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 GAINED A TOTAL OI OF 139.05 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR JULY (7.5645 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 6600 OZ QUEUE JUMP//NEW STANDING 8.463 TONNES
NEW STANDING FOR JULY: 8.463 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $29.90
WE HAVE REMOVED XX CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 38,340 CONTRACTS OR 3,834,000 OZ (129.27 TONNES)
confirmed volume FRIDAY 350,234 contracts//poor
//speculators have left the gold arena
JULY 8 JULY GOLD CONTRACT
/ /// THE JULY 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | NIL oz . |
| Deposit to the Dealer Inventory in oz | |
| Deposits to the Customer Inventory, in oz | 84,487.452 OZ JPMORGAN |
| No of oz served (contracts) today | 463 notice(s) 46,300 OZ 1.440 TONNES |
| No of oz to be served (notices) | 32 contracts 3200 OZ 0.0995 TONNES |
| Total monthly oz gold served (contracts) so far this month | 2689 notices 268900 oz 8.3639 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: nil oz
we have 1 customer deposit:
i) Into JPMorgan: 84,587.452 oz
total deposit: 84,487.452 oz
customer withdrawals: 0
TOTAL WITHDRAWALS 64.302 oz Brinks 2 kilobars
Adjustments:0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JUNE
For the front month of JULY we have an oi of 495 contracts having GAINED 65 contracts. We had 1 notices filed on Friday so we gained 66 contracts or an additional 6600 oz will stand at the comex (0.2050tonnes)
AUGUST GAINED 12,449 CONTRACTS UP TO 354,869 CONTRACTS
SEPT. GAINED 9 CONTRACTS TO STAND AT 183.
OCTOBER GAINED 2265 CONTRACTS UP TO 24,209 CONTRACTS
We had 463 contracts filed for today representing 46,300 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 63 notices were issued from their client or customer account. The total of all issuance by all participants equate to 463 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 11 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for July /2024. contract month, we take the total number of notices filed so far for the month (2689) x 100 oz ) to which we add the difference between the open interest for the front month of JULY 495( CONTRACTS) minus the number of notices served upon today (469 x 100 oz per contract( equals 272,100 OZ OR 8.463 TONNES.
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (2689 x 100 oz +we add the difference for front month of JULY (495 X// , OI} minus the number of notices served upon today (463) x 100 oz which equals 272,100 oz (8.463 TONNES)
TOTAL COMEX GOLD STANDING FOR JULY: 8.463 TONNES WHICH IS HUGE FOR THIS NOT VERY ACTIVE DELIVERY MONTH IN THE CALENDAR.
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: 1,686,834.101 oz 52.46 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,699,873.908 OZ
TOTAL REGISTERED GOLD 7,838,185.304( 243.80 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,861688.604 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,151351 oz (REG GOLD- PLEDGED GOLD)= 191.332 tonnes //
END
SILVER/COMEX
JULY 8/2024
INITIAL
//2024// THE JULY 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 64.302 oz Brinks . |
| Deposits to the Dealer Inventory | |
| Deposits to the Customer Inventory | |
| No of oz served today (contracts) | 123 CONTRACT(S) (0.615 million OZ) |
| No of oz to be served (notices) | 413 contracts (2.065 million oz) |
| Total monthly oz silver served (contracts) | 5408 Contracts (27.040 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit/
total dealer deposit : nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 2 customer deposits:
i) Into Brinks 607,090.771 oz
ii)Into Manfra: 572,280.100, oz
total customer deposit 1,186,370.871 oz
JPMorgan has a total silver weight: 128.402million oz/299.406million or 42.88%
adjustment: 0
customer withdrawals: 1
i) out of Delaware 999.60 oz
total withdrawal: 999.60 0z
TOTAL REGISTERED SILVER: 69.983 MILLION OZ//.TOTAL REG + ELIGIBLE. 299.406
million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JULY:
silver open interest data:
FRONT MONTH OF JULY/2024 OI: 536 CONTRACTS HAVING LOST 177 CONTRACT(S). WE HAD 299 NOTICES FILED ON FRIDAY SO WE GAINED 122 CONTRACTS OR 610,000 OZ WILL STAND AT THE COMEX VIA AN QUEUE JUMP TO TAKE DELIVERY OVER HERE.
AUG, SAW A GAIN OF 5 CONTRACTS TO 1523
SEPT SAW A GAIN OF 3167 CONTRACTS TO 131,549
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 123 for 0.615 MILLION oz
CONFIRMED volume; ON FRIDAY 109,590 huge
To calculate the number of silver ounces that will stand for delivery in JULY we take the total number of notices filed for the month so far at 5408 x 5,000 oz = 27.040 MILLION oz
to which we add the difference between the open interest for the front month of JULY (495) and the number of notices served upon today 123 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the JULY/2024 contract month: 5408 notices served so far) x 5000 oz + OI for the front month of JULY (495)x number of notices served upon today minus (123)x 5000 oz of silver standing for the JULY contract month equates to 29.105 MILLION OZ.
New total standing: 29.105 million oz.
There are 69.983 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!
JULY 8 WITH GOLD DOWN $26.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD.//:INVENTORY RESTS AT 833.37 TONNES
JULY 5 WITH GOLD UP $29.90 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD..A DEPOSIT OF 1.10 TONNES OF GOLD VAPOUR INTO THE GLD//:INVENTORY RESTS AT 833.37 TONNES
JULY 3 WITH GOLD UP $35.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD..A MASSIVE DEPOSIT OF 5.76 TONNES OF GOLD VAPOUR INTO THE GLD//:INVENTORY RESTS AT 833.37 TONNES
JULY 2 WITH GOLD DOWN $4.45 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD../:INVENTORY RESTS AT 827.61 TONNES
JULY 1 WITH GOLD DOWN $.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES
JUNE 28 WITH GOLD UP $3.80 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES
JUNE 27 WITH GOLD DOWN $16.95 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES
JUNE 26 WITH GOLD UP $23.70 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES
JUNE 25 WITH GOLD DOWN $13.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 2.88 TONNES OF GOLD FROM THE GLD INVENTORY RESTS AT 829.05 TONNES
JUNE 24 WITH GOLD UP$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
GLD INVENTORY: 834.80 TONNES, TONIGHTS TOTAL
SILVER
JULY 8. WITH SILVER DOWN $0.73//SMALL CHANGES IN SILVER INVENTORY A MAMMOTH DEPOSIT OF 3,292,000 OZ OF SILVER VAPOUR INTO THE SLV.: /INVENTORY RISES T0 440.100 MILLION OZ.
JULY 4. WITH SILVER UP $0.85//SMALL CHANGES IN SILVER INVENTORY A MAMMOTH DEPOSIT OF 3,292,000 OZ OF SILVER VAPOUR INTO THE SLV.: /INVENTORY RISES T0 440.100 MILLION OZ.
JULY 3. WITH SILVER UP $1.08//SMALL CHANGES IN SILVER INVENTORY A SMALL WITHDRAWAL OF 639,000 OZ: /INVENTORY LOWERS T0 436,808 MILLION OZ.
JULY 2. WITH SILVER UP $0.19//NO CHANGES IN SILVER INVENTORY: /INVENTORY REMAINS AT 437.447 MILLION OZ./
JULY 1. WITH SILVER UP $0.05//XXX CHANGES IN SILVER INVENTORY: A DEPOSIT OF 182,000 OZ OF SILVER INTO THE SLV./.// /INVENTORY RISES AT 437.447 MILLION OZ./
JUNE 28. WITH SILVER UP $0.27//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 913,000 OZ FROM THE SLV./.// /INVENTORY REMAINS AT 437.265 MILLION OZ./
JUNE 27. WITH SILVER UP $0.01//NO CHANGES IN SILVER INVENTORY: .// /INVENTORY REMAINS AT 438.178 MILLION OZ.//
JUNE 26. WITH SILVER UP $0.03//HUGE CHANGES IN SILVER INVENTORY: A HUGE WITHDRAWAL OF 2.512 MILLION OZ OF SILVER FROM THE SLV.// /INVENTORY FALLS TO 438.178 MILLION OZ.//
JUNE 25. WITH SILVER DOWN $0.63//HUGE CHANGES IN SILVER INVENTORY: A MAMMOTH DEPOSIT OF 7.835 MILLION OZ OF SILVER VAPOUR INTO THE SLV.// /INVENTORY RISE TO 440.69 MILLION OZ.//WHAT AN ABSOLUTE FRAUD.
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
CLOSING INVENTORY 436.808 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
CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COPPER
END
6.CRYPTOCURRENCY//DIGITAL CURRENCY// COMMENTARIES/
END
ASIA TRADING//MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 27.48 PTS OR 0.93% //Hang Seng CLOSED DOWN 275.55 PTS OR 1.55% // Nikkei CLOSED DOWN 131.67 OR 0.32%//Australia’s all ordinaries CLOSED DOWN 0.72%///Chinese yuan (ONSHORE) closed DOWN TO 7,2696 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2895/ Oil UP TO 8380 dollars per barrel for WTI and BRENT UP AT 87.23/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.2696
OFFSHORE YUAN: UP TO 7.2895
SHANGHAI CLOSED DOWN 27.48 PTS OR 0.93 %
HANG SENG CLOSED DOWN 275.55 PTS OR 1.55%
2. Nikkei closed DOWN 131.67 PTS OR 0.32%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 104.63 EURO RISES TO 1.0829 UP 1 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1,088 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 160.92 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 DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.540/Italian 10 Yr bond yield DOWN to 3.928 SPAIN 10 YR BOND YIELD DOWN TO 3.330%
3i Greek 10 year bond yield DOWN TO 3.586
3j Gold at $2373.70//Silver at: 31.02 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 0/ 100 roubles/dollar; ROUBLE AT 88.20
3m oil into the 82 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 160.92/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.088% 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 0.8958 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9701 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.
USA 10 YR BOND YIELD: 4.300 UP 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.497 UP 3 BASIS PTS/
USA 2 YR BOND YIELD: 4.628 UP 3 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.73…
10 YR UK BOND YIELD: 4.1735 UP 2 PTS
2a New York OPENING REPORT
Futures Rise To Fresh All Time High As Tech-Led Meltup Just Won’t End
MONDAY, JUL 08, 2024 – 08:21 AM
Futures are mixed with small-caps leading as calm returned to markets after traders focused on the positive implications from a French election where the far-left ended up winning and contemplated unleashing a flood of spending. European stocks rose and the euro pared earlier losses. At 8:00am S&P 500 futures were fractionally in the green, erasing an earlier loss, and following the biggest weekly advance for the index since April; the Nasdaq was in the green as has been the case pretty much every single day this year. US Treasuries started off the week on the backfoot, as traders braced for Federal Reserve Chair Jerome Powell’s congressional testimony and US inflation data this week: bond yields are +2-3bps and 10Y yield trade around 4:31%. The USD is flat following its worst week since early March. Commodities begin the week under pressure with weakness across all three complexes. Today’s macro data focus is on NY Fed’s 1-year inflation expectations, but the impactful data comes from CPI/PPI on Thurs/Fri and the ten Fedspeakers this week. We may see US markets chop sideways into CPI and the kick off of earnings season later this week, though we are still in a period of positive seasonality
Pre-mkt, semis are higher ex-NVDA with the balance of Mag6 names in the green. In other corporate news, Boeing agreed to plead guilty to criminal conspiracy to defraud the US after the Justice Department concluded the planemaker failed to adhere to an earlier settlement stemming from two crashes of its 737 Max jetliner. Here are the most notable premarket movers:
- Corning (GLW) rises 7% after posting preliminary 2Q core sales that topped expectations.
- Gilead Sciences (GILD) gains 2.7% after Raymond James upgraded the biotech to outperform on the potential for its HIV and liver disease treatments to drive growth.
- HilleVax (HLVX) shares are halted after the biopharmaceutical company said a clinical study did not meet its primary endpoints.
- Morphic (MORF) soars 76% after agreeing to be purchased by Eli Lilly in a $3.2 billion deal.
- Paramount (PARA) rises 2% after it agreed to merge with Skydance Media in a deal that hands control of the storied Hollywood studio to producer David Ellison, ending one of the industry’s most dramatic acquisitions.
- R1 RCM (RCM) rises 13% after holder TCP-ASC said it’s in the process of finalizing a proposal to acquire all of the outstanding shares of the revenue-management company that it doesn’t already own.
- ServiceNow (NOW) slips 3% as Guggenheim cut its rating to sell, saying the software company’s valuation doesn’t match future risks.
- SolarEdge Technologies (SEDG) rises 5% after BofA upgrades the renewable energy equipment company to neutral, saying the stock is already pricing in the worse case scenario, including inventory write downs and liquidity constraints.
Over the weekend, in a stunning reversal a left-wing coalition of far-left parties received the most votes in French legislative elections on the weekend, but failed to secure enough seats to form a government. That outcome limits how much any party can do, leading to bets that President Emmanuel Macron will form a new coalition between the center and center-left. In the runup to the vote, investors had been concerned about the prospect of a Le Pen takeover after Macron’s crushing defeat in last month’s European parliamentary elections.
“A hung parliament is not necessarily a bad outcome because it means that the most extreme policies are less likely to make it to the legislature,” said Azad Zangana, a senior European economist at Schroders. “It’s still a very uncertain period going forward.”
Meanwhile, the political situation in the US is even more ridiculous as Joe Biden’s continues to salvage his embattled reelection bid, fending off calls from Democratic lawmakers to step aside, although the chorus of voices against the dementia-addled president is too big and it is only a matter of time before Joe is forced to step down.
Turning to the calendar, Powell’s testimony on Tuesday and Wednesday will be closely watched ahead of Thursday’s consumer price figures for June. The Fed Chair is likely to say policymakers need further confirmation they have vanquished inflation before they’re ready to cut interest rates when he speaks to Congress. And yes, earnings season begins again: this Friday we get Q2 reports from major US banks including JPMorgan.
European stocks started off in the red but quickly traded higher as the narrative once again reversed itself and the Stoxx 600 was up 0.4%. French stocks rise while the yield spread with Germany narrows slightly as the worst-case scenarios in the French election have been avoided, although investors expect uncertainty to persist as political gridlock looms. The CAC 40 is up 0.5% after swiftly reversing an opening decline. The spread between French and German 10-year yields falls 1bps to 65bps.
Earlier, Asian stocks declined as a slump in Chinese equities extended ahead of a key policy meeting, weighing on the broader region. The MSCI Asia Pacific Index swung to a loss of as much as 0.3% after gaining 0.4% earlier. Industrial and Commercial Bank of China and Bank of China were among the biggest drags. TSMC, which has the highest weighting on the regional benchmark, jumped 3% to a record high after Morgan Stanley raised its price target. A selloff in equities in mainland China and Hong Kong deepened, with the Hang Seng China Enterprises Index nearing a technical correction. A patchy economic recovery and intensifying concern over potential geopolitical risks stemming from the upcoming US election have hurt investor sentiment.
In FX, the Bloomberg Dollar Spot Index is flat while the Japanese yen is among the weakest of the G-10 currencies, falling 0.2% against the greenback. The euro reversed an earlier loss and traded roughly flat around $1.0840 after falling to as much as $1.0802 earlier with traders mulling the impact of a political gridlock in France on the country’s finances. Options traders remain bearish on the euro versus Group-of-four peers over the next week, albeit with lower conviction compared to the run-up to the French legislative elections.
“The worst outcome for the euro has been averted for now,” said Alvin Tan, head of Asia FX strategy at RBC Capital Markets in Singapore. “But the political situation in France remains uncertain and the fiscal balance is unlikely to improve significantly as a result”
In rates, treasuries were slightly cheaper across the curve, led by bear-flattening in bunds after an unexpected win by a left-wing coalition in the second round of French legislative election gave no party an absolute majority. Treasury yields are cheaper by ~2bp across the curve with front-end and belly leading losses, flattening 5s30s spread slightly, and 10-year just under 4.30%. The French yield premium vs German counterparts increased. US session has few scheduled events; ahead this week are two days of congressional testimony on monetary policy by Fed Chair Jerome Powell and coupon auction cycle, both starting Tuesday. Treasury issuance resumes Tuesday with $58b 3-year note sale, followed by $39b 10-year and $22b 30-year reopenings Wednesday and Thursday.
In commodities, oil edged lower after four straight weekly gains, even as traders tracked twin threats to crude production posed by a hurricane in the US and wildfires in Canada. WTI fell 1.1% to trade near $82.25 a barrel. Spot gold falls $20 to around $2,372/oz. Gold was steady, and iron ore extended a decline from a one-month high.
Looking at today’s calendar, US economic data slate includes June New York 1-year inflation expectations (11am) and May consumer credit (3pm). Ahead this week are CPI, PPI and University of Michigan sentiment. No Fed speakers scheduled for Monday. Weekly calendar includes Barr, Bowman, Goolsbee, Cook, Bostic and Musalem in addition to Powell
Market Snapshot
- S&P 500 futures little changed at 5,620.25
- MXAP down 0.2% to 184.00
- MXAPJ little changed at 576.21
- Nikkei down 0.3% to 40,780.70
- Topix down 0.6% to 2,867.61
- Hang Seng Index down 1.5% to 17,524.06
- Shanghai Composite down 0.9% to 2,922.45
- Sensex little changed at 79,945.06
- Australia S&P/ASX 200 down 0.8% to 7,763.17
- Kospi down 0.2% to 2,857.76
- STOXX Europe 600 up 0.6% to 519.70
- German 10Y yield +1.6bps at 2.57%
- Euro little changed at $1.0841
- Brent Futures down 0.6% to $86.04/bbl
- Gold spot down 0.7% to $2,374.97
- US Dollar Index little changed at 104.87
Top Overnight News
- Biden said he is convinced he is the most qualified person to beat Donald Trump and has done ten major events since the debate, while he pointed to his successes when asked if he was the same man as he was when he took office three years ago. Biden also stated he is still in good shape and that no one has said he needs neurological and cognitive tests.
- Democrat Rep. Schiff said either Biden has to win overwhelmingly or he had to pass the torch and that Kamala Harris could win overwhelmingly but Biden needs to make a decision, according to Reuters.
- Microsoft orders China employees to only use iPhones for work from September, cutting off Android devices from the workplace, according to Bloomberg
- Japanese workers’ base salaries jumped the most since 1993, an encouraging sign that the underlying pay trend may start to support consumption and enable the Bank of Japan to raise interest rates again. Base pay increased 2.5% in May from a year ago, the fastest growth since 1993, outpacing the 1.9% gain in the headline figure, the labor ministry reported Monday. BBG
- The BOJ said wage hikes were broadening across the economy due to tight labor market conditions, signaling its confidence the country was making progress toward durably achieving its 2% inflation target. The optimistic assessment, made at the BOJ’s quarterly meeting of regional branch managers on Monday, may heighten the case for the central bank to raise interest rates as soon as its next meeting on July 30-31. RTRS
- European stocks edged higher as traders weighed the unexpected French election result, which leaves the left-wing grouping without enough seats to form a government. France now heads into political gridlock, with no clear majority. Jean-Luc Melenchon vowed to implement the leftist New Popular Front’s entire spending program. President Emmanuel Macron’s group was second with Marine Le Pen’s National Rally trailing in third. BBG
- Hamas has dropped its objections over a US-backed cease-fire proposal to halt the Gaza conflict with Israel, a person familiar with the matter said, the clearest sign yet that a truce is possible after months of fruitless negotiations. BBG
- White House considers a fresh set of oil-linked sanctions on Russia focused on the tankers delivering Moscow’s crude around the world, but concerns about high gas prices are keeping them from being enacted. NYT
- Several influential congressional Democrats said on a private call they want Joe Biden to step aside, according to people familiar. The president remained defiant. He registered his best showing yet in a Bloomberg News/Morning Consult tracking poll of battleground states, but still trailing Trump. BBG
- Former president Donald Trump’s campaign is aiming to announce his running mate by July 15, the first day of the Republican National Convention, according to people familiar with the situation, and internal discussions have largely centered on two finalists as he nears a decision. Trump has not communicated his choice, the people familiar with the situation said, but discussions inside the campaign have narrowed in on Sens. J.D. Vance (R-Ohio) and Marco Rubio (R-Fla.). WaPo
- The start of the artificial-intelligence arms race was all about going big: Giant models trained on mountains of data, attempting to mimic human-level intelligence. Now, tech giants and startups are thinking smaller as they slim down AI software to make it cheaper, faster and more specialized. This category of AI software—called small or medium language models—is trained on less data and often designed for specific tasks. WSJ
- Boeing agreed to plead guilty to misleading air-safety regulators in the run-up to two deadly 737 MAX crashes. Boeing will formally acknowledge guilt and accept fresh punishment over its dealings with the Federal Aviation Administration before two 737 MAX crashes that killed 346 people. As part of a plea to one count of conspiracy to defraud the U.S., prosecutors have asked the company to pay a second $244 million criminal fine and spend $455 million over the next three years to improve its compliance and safety programs. WSJ
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly lower as the region failed to resume the momentum from last Friday’s dovish post-NFP reaction, while the weekend macro news flow was light aside from the French election results. ASX 200 was dragged lower by energy and mining stocks, while a surprise contraction in Home Loans added to the glum mood. Nikkei 225 faded after initially bucking the trend and hitting a fresh record high before reversing course, as participants digested mixed data. Hang Seng and Shanghai Comp. were pressured with underperformance in Hong Kong amid weakness in property stocks, while the mainland also lacked demand ahead of this week’s key releases from China including CPI and the latest trade data
Top Asian News
- PBoC said it will conduct a temporary repo or reverse repo based on market conditions effective from July 8th and the tenor of the temp repo or reverse repo will be overnight loans, while it added the move is to maintain banking system liquidity reasonably ample and to increase the accuracy and efficiency of open market operations.
- China’s MOFCOM said China’s Vice Premier will co-chair the fifth meeting of the Sino-Russian intergovernmental cooperation committee in Russia on July 9th, according to Reuters.
- China’s auto manufacturers association is strongly dissatisfied with the EU Commission’s anti-subsidy tax rate, according to Reuters.
- Tokyo Governor Koike won re-election for a third term, according to exit polls cited by Reuters.
- Japan’s government says regular pay rose 2.5% Y/Y, which was the fastest pace of increase since January 1993.
- BoJ raises assessment for 2 of Japan’s 9 regions in quarterly report; cuts assessment for 2 of Japan’s 9 regions; maintains assessment for 5 of Japan’s 9 regions. Many regions said wage hikes are spreading among smaller firms to retain and hire new workers.
- China Auto Industry CPCA says 1.78mln passenger cars sold in June -6.9% Y/Y (vs 1.72mln in May); Tesla (TSLA) exported 11,746 China-made vehicles in June (vs 17,358 in May); says new energy vehicle exports currently face “temporary” pressure.
European bourses, Stoxx 600 (+0.6%), began the session on a weaker footing with initial sentiment hampered by the French second round parliamentary elections, which resulted in a hung parliament. However, optimism soon lifted and benchmarks soared to session highs, CAC 40 +0.5%, potentially stemming from comments by French Socialist leader Faure who said the NFP will select a PM from within the alliance within the week, via AFP. European sectors hold a strong positive bias vs an initially negative bias. Insurance takes the top spot, with JPM noting that given the recent sell-off within the sector and specifically Axa (+1.5%), there is a buying opportunity. Elsewhere, Energy and Basic Resources both lag amid weakness in the crude and metals complex, respectively. US Equity Futures (ES U/C, NQ +0.1%, RTY +0.2%) are mixed and trading incrementally on either side of the unchanged mark. Sentiment has improved in recent trade, given the strength in European equities since the cash open.
Top European News
- German Economy Minister Habeck says the debt brake could only be held so far because defence spending goals were not reached; finance conditions do not fit to the security situation in Germany
- Maersk (MAERSKB DC) says extreme weather conditions are forecasted along the South African coastline for the next few days, particularly between Cape Town & Port Elizabeth. Weather will impact vessel movement and operation.
FX
- DXY is marginally lower and back on a 104 handle in what has been a relatively quiet start to the week. The index is managing to hold above last week’s NFP-induced 104.82 low with Thursday’s CPI report set to be the next big test for the greenback.
- EUR has been able to shrug off initial worries surrounding the fallout of the French election which showed a strong showing for the left and uncertainty stemming from a hung Parliament. EUR/USD gapped lower at the open to 1.08 before printing a subsequent session high at 1.0842.
- GBP is steady vs the Dollar with fresh fundamentals lacking, though with traders mindful of speak from BoE’s Haskel later on. 1.2821 is the high watermark for Cable thus far, with not much in the way of resistance until the 12th June high at 1.2860.
- JPY is a touch softer vs. the USD but near levels traded on Friday in the wake of the NFP report. USD/JPY made an incremental new low overnight at 160.27 before the USD clawed back some losses vs. peers.
- Antipodeans are trivially softer vs the Dollar; AUD advanced as high as 0.6761 overnight before scaling back gains and slipping back below its 50DMA at 0.6742.
- PBoC set USD/CNY mid-point at 7.1286 vs exp. 7.2640 (prev. 7.1289)
- CNB Minutes (June): Zamrazilova & Kubelkova dissented and voted for a 25bp move. At upcoming meetings, board should discuss the option of slowing the decline in rates or stabilising them for some time. Frait said the CZK may be undervalued.
Fixed Income
- OATs gapped lower by 39 ticks on the open before then slipping further to a 123.36 base. Pressure in the wake of the surprise election outcome where NFP won. However, OATs have since picked up and are near unchanged on the session up to a 123.95 peak, potentially a function of the market cheering a removal of the right-wing risk.
- USTs are slightly underperforming Bunds/Gilts but only modestly so. US enters a particularly busy week with dual-testimony from Powell and then CPI headlining. Treasuries are pressured by around 7 ticks to a 110-11+ base, but remains in relative proximity to Friday’s 110-20 peak.
- Bunds are softer and holding just below the 131.00 mark in a 130.77-131.13 band. Data saw EZ Sentix for July come in at -7.3 (exp. 0.0, prev. 0.3), though sparked no real reaction.
Commodities
- Crude is softer intraday despite the rebound in risk across stocks, amid positive vibes regarding the Israel-Hamas ceasefire proposal. Brent September slipped from a USD 86.92/bbl peak to a USD 85.95/bbl trough.
- Precious metals are lower across the board and giving back some recent gains as the Dollar attempts a recovery and the DXY tries to mount 105.00 once again.
- Base metals are flat/mixed, with prices recovering from the overnight weakness as Chinese property stocks slumped.
- Hurricane Beryl makes landfall in Texas after hitting Mexico
- NHC said Beryl is forecast to strengthen to a hurricane again before landfall and a storm surge warning was extended along the Texas coast. NHC also announced that a hurricane warning is in effect for the Texas coast from Baffin Bay northward to San Luis Pass and Galveston Island, as well as for the south of Baffin Bay to the mouth of the Rio Grande River, according to Reuters. Furthermore, the NHC later confirmed that Beryl became a hurricane again.
- US Coast Guard shut the Port of Houston ahead of approaching Beryl, while ports of Texas, Freeport & Galveston were also shut by the Coast Guard, according to Reuters.
- Citgo began cutting production at its Corpus Christi, Texas refinery (165k bpd) ahead of Beryl but plans to keep the refinery running at minimum rates during the storm, according to sources cited by Reuters. It was later reported that the Port of Corpus Christi announced the port was closed due to Beryl.
- A fire broke out at a gas pipeline in Crimea due to an accident although there were no casualties, according to Russia-installed officials.
Geopolitics: Middle East
- Israeli PM Netanyahu said any Gaza deal must allow Israel to continue fighting until all war objectives are met and the deal must not allow weapon smuggling to Hamas via the Gaza-Egypt border. Netanyahu added that thousands of armed militants cannot return to northern Gaza under the deal and that the proposal to which Israel agreed allows the return of hostages without compromising war objectives, according to Reuters.
- A revised proposal on a Hamas-Israel deal stated talks on the release of Israeli hostages including soldiers will start in a 16-day period after the first phase and an agreement on a hostage release deal is to be concluded before the end of the fifth week of the second phase, according to a senior Hamas source. Furthermore, the revised proposal involves mediators to guarantee a temporary ceasefire, aid delivery, and the withdrawal of Israeli troops as long as indirect talks continue to implement the second phase, according to Reuters.
- Egypt is to host Israeli and American delegations to discuss outstanding issues in Gaza and a ceasefire agreement, according to senior sources cited by Al Qahera News TV. It was also reported that CIA Director Burns is expected to visit Cairo this week for Gaza ceasefire talks.
- An Israeli air strike on a school sheltering displaced Palestinians in Gaza’s Al-Nuseirat killed at least 13 people, while the Israeli military said its airstrike targeted militants in an area near a Gaza school. It was also reported that senior Hamas government official Ehab Al-Ghussein was killed by Israel’s air strike in Gaza City, according to Reuters.
- Lebanon’s Hezbollah said it launched its “largest” air operation, sending explosive drones at a mountaintop Israeli military intelligence base in the annexed Golan Heights, according to SCMP.
- Moderate Pezeshkian beat his hard-line rival in the Iranian presidential race runoff, according to the interior ministry, while the vote is unlikely to result in a shift of policies but may shape the succession for Iran’s Supreme Leader Khamenei, according to Reuters.
Geopolitics: Other
- Local Ukrainian authorities say air defences are operating during a rare daytime Russian missile attack, strikes reported in Kyiv. “A series of violent explosions in the center of the Ukrainian capital Kiev”, according to Sky News Arabia
- Ukrainian security source said Ukrainian forces hit a Russian munitions depot in the Voronezh region using drones, while a state of emergency was introduced in some parts of the Voronezh region following the drone attack.
- Russia has halted a Ukrainian attempt to hijack a Russian strategic bomber to Ukraine, via Tass; Ozerne airfield was struck to stop this.
- NATO will need 35-50 additional brigades under new plans to defend against Russia; Germany will need to quadruple air defence capacities under new NATO defence plans, according to sources cited by Reuters.
- North Korean leader Kim’s sister said South Korea’s recent drills near the border are inexcusable and explicit provocation, while she added that if North Korea’s sovereignty is violated, North Korea’s armed forces will immediately carry out their mission and duty according to the constitution.
- China is developing a new stealth aircraft which will be a fifth-generation fighter jet with stealth function and is likely to be deployed on China’s third aircraft carrier the Fujian, according to Nikkei.
- Philippines President’s Office announced the Philippines and Japan signed a reciprocal access agreement
US Event Calendar
- 11:00: June NY Fed 1-Yr Inflation Expectat, prior 3.17%
- 15:00: May Consumer Credit, est. $9b, prior $6.4b
DB’s Jim Reid concludes the overnight wrap
The main story this morning is obviously the second round of the French elections where yet another electoral shock has been served up in 2024 with the far-left New Popular Front securing the surprise outcome of being the largest group. They are in line to win 182 seats (around 160 expected in the final Ifop poll on Friday). The far-right RN party and allies has claimed 143 seats (around 190 expected on Friday but edging lower all of last week). Macron’s ENS movement are looking set for 163 seats (around 135 expected on Friday). The tactical voting to block the far-right has succeeded so much that it’s swung the pendulum in the opposite direction but without anyone having an overall majority which would have been 289 seats.
The NPF have the most fiscally aggressive program in terms of both spending and taxation and the market will be suspicious that the prospect of them being in government now or later will bring higher deficits with the associated concerns about debt sustainability and tense relations with Europe. Last night the far-left were already talking about wealth taxes and increases on taxes on corporates which won’t be market friendly. However trying to build a government that has any kind of stability looks a very high bar this morning. Political paralysis for the next 12 months seems the most likely outcome. See our economists’ blog overnight here for the most likely scenarios.
In addition to this, our economists, strategists and Euro rates and credit traders will host a call at 10am London time this morning. Please register here if you’d like to attend. So far this morning the Euro (-0.08%) is only trading fractionally lower at 1.0831 against the dollar while European equity futures tied to the STOXX 50 (+0.32%) are edging higher as I type. OAT futures are lower but well within the trading range from Friday.
Moving on, there’s a lot to digest this week with the US CPI report (Thursday) and Fed Chair Powell’s testimonies to the Senate and House committees (Tuesday and Wednesday) the obvious highlights alongside PPI and the start of US Q2 earnings season on Friday with JP Morgan, Citi and Wells Fargo reporting.
Outside of these the day by day highlights are NY Fed 1-yr inflation expectations today, tomorrow’s US small business optimism survey to see if the “K” shaped recovery continues. Wednesday sees China’s CPI and PPI, Japan’s PPI, Norwegian and Danish CPI, Italian IP and a US 10yr Treasury auction. Thursday sees the latest US monthly budget numbers alongside jobless claims which will continue to get close attention given recent mixed signals on the US labour market. There is also a 30yr Treasury auction. On Friday the University of Michigan survey and Swedish CPI will be the highlight outside of the main events mentioned above. In geopolitics, there is a NATO summit Tuesday through Thursday, and Indian PM Modi visits Russia today and tomorrow both of which may generate headlines. The full week ahead is at the end as usual.
Let’s now preview the US CPI and PPI releases and review a mixed payroll print on Friday. The headline CPI should print soft (+0.09% MoM DB forecast vs. +0.01% previously) thanks to falling gas prices. However core is expected to edge up (+0.25% MoM vs. +0.16%). If our economists are correct, YoY headline CPI will fall by two-tenths to 3.1%, with core edging up a tenth to 3.5%. However three-month annualised core would fall four tenth to 2.9%, though the six-month annualised rate would stay at 3.7%. For the PPI we always look at the categories feeding into core PCE, namely health care services, airfares and portfolio management. The final of these three should be firm given the recent rally in equities and airfares could bounce back after a weak May. This also could be the end of easy comps as our econ team point out that weak July and August prints will soon roll out of the YoY numbers.
This is important as if markets do want a September cut then a bit more progress is needed on inflation absent an “unexpected weakening” (in Powell’s words) in the employment situation.
With that in mind it’s useful to review a mixed employment report on Friday. Payrolls at +206k were decent but the last 2 months of revisions were -111k and private payrolls only expanded at +136k. Unemployment edged up a tenth to 4.1% and is now 0.7pp above its cyclical lows. This hasn’t yet triggered the Sahm rule of a recession always occurring after unemployment rises 0.5pp from its lows, as the rule deals in 3 month moving averages. However at 0.43pp it is now close.
Where this time could be slightly different for the Sahm rule, or at least require a higher trigger, is that the participation rate continues to improve. On Friday for example, the prime-age (25-54 age group) participation rate hit 83.7%, its highest since 2001. Also new entrants to the labour force was the highest since 2017. So as unemployment rises go (and it was a soft 4.1% given the 2 decimal print was 4.05%) it was a decent one.
In Asia, Chinese stocks are underperforming with the Hang Seng (-1.21%) leading losses followed by the Shanghai Composite (-0.54%) and the CSI (-0.47%). The Nikkei (+0.20%) and the KOSPI (+0.10%) are seeing minor gains. S&P 500 (-0.12%) and NASDAQ 100 (-0.11%) futures are edging lower and 10yr UST yields are up a basis point.
Early morning data showed that labour cash earnings in Japan grew +1.9% y/y in May (v/s +2.1% expected), but still marking the biggest gain since June 2023. It followed a downwardly revised increase of +1.6% in April. Meanwhile, real wages fell -1.4% y/y in May (v/s -1.2% expected) with the decline extending to a record 26th straight month. Japan’s current account surplus grew for the 15th straight month swelling to 2.85 trillion yen in May (v/s 2.35 trillion yen expected) from the previous month’s 2.05 trillion yen surplus.
In central bank news, the People’s Bank of China (PBOC) revealed this morning that they would start conducting temporary bond repurchase agreements or reverse repos to make open market operations more efficient, aiming to maintain sufficient liquidity in the banking system.
Looking back at last week now and markets continued to advance, as poorer data led investors to dial up the chance of future rate cuts. Indeed on Friday, there was a very underwhelming US jobs report (discussed above), which added to the run of weak data recently.
The payrolls report came on the heels of some weak ISM services and manufacturing prints earlier in the week, and it led to a sharp rally in US Treasuries. For instance, the 2yr yield ended the week down -15.0bps (-10.2bps Friday) at 4.60%, which is its lowest closing level since March. And the 10yr yield was also down -11.8bps last week (-8.0bps Friday) to 4.28%. Hopes for a rate cut were also evident from fed funds futures, and by the end of the week they were pricing in 50.8bps of cuts by the December meeting, so at least two 25bp rate cuts are now fully priced in by year-end. But in Europe it was a different story, with yields on 10yr bunds ending the week up +5.6bps (-5.3bps Friday) at 2.55% as French political risk reduced.
Finally, risk assets did pretty well against this backdrop, as the prospect of rate cuts outweighed the weak economic data. That helped the S&P 500 to end the week at another all-time high, posting a +1.95% gain (+0.54% Friday). And the moves were echoed elsewhere, with Europe’s STOXX 600 posting a +1.01% gain (-0.18% Friday), whilst Japan’s Nikkei was up +3.36% (unch. Friday). Otherwise, we also saw Brent crude oil prices rise for a fourth consecutive week to $86.54/bbl, and gold prices were up +2.81% (+1.51% Friday) in their best week since early April.
2B EUROPE OPENING/TRADING
European equities shrug off initial French-induced weakness, DXY flat & Crude at lows – Newsquawk US Market Open
MONDAY, JUL 08, 2024 – 06:15 AM
- European bourses are entirely in the green, paring initial losses as markets digest the fallout from the French second-round parliamentary election
- French second-round election results pointed to a hung parliament in which the left-wing New Popular Front surprisingly won the most seats followed by Macron’s centrists and with the far-right National Rally in third place
- DXY is incrementally softer & EUR scales back initial French-induced losses
- Bonds are incrementally softer, with USTs underperforming; OATs initially gapped lower but now towards session highs
- Crude is subdued and at lows, XAU slips and base metals are flat/mixed, recovering overnight losses
- Looking ahead, Comments from BoE’s Haskel
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FRENCH ELECTION
- France’s left-wing New Popular Front alliance surprisingly won the most seats (182 seats) in the second round of the French parliamentary election but fell short of an absolute majority, while President Macron’s centrist bloc won the second-most number of seats (163 seats) followed by the far-right National Rally in third place (143 seats) in a shock win for the left-wing coalition with France set for a hung parliament.
- French Presidency said Macron will respect the choice of the French people and will wait for the full picture to emerge in parliament before taking the necessary next decisions, while it added that Macron is currently analysing the latest parliament election results.
- French PM Attal said no absolute majority can be formed by extreme parties after the parliamentary elections and his political camp has no majority, while he will offer his resignation to President Macron.
- French Unbowed leader Melenchon said the election score is the result of a magnificent mobilisation effort and the far-right is from a majority, while he added Macron’s defeat is clearly confirmed and PM Attal must go, according to Reuters.
- French far-right National Rally’s Le Pen said she sees the seed of tomorrow’s victory in today’s results and their victory has merely been delayed, while she added that French President Macron’s situation is untenable, according to Reuters.
- French Socialist leader Faure says NFP will select a PM from within the alliance within the week, via AFP.
- French PM Attal submitted his resignation to President Macron at 10:15BST (as expected).
- Click for the newsquawk analysis piece on the election
EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx 600 (+0.6%), began the session on a weaker footing with initial sentiment hampered by the French second round parliamentary elections, which resulted in a hung parliament. However, optimism soon lifted and benchmarks soared to session highs, CAC 40 +0.5%, potentially stemming from comments by French Socialist leader Faure who said the NFP will select a PM from within the alliance within the week, via AFP.
- European sectors hold a strong positive bias vs an initially negative bias. Insurance takes the top spot, with JPM noting that given the recent sell-off within the sector and specifically Axa (+1.5%), there is a buying opportunity. Elsewhere, Energy and Basic Resources both lag amid weakness in the crude and metals complex, respectively.
- US Equity Futures (ES U/C, NQ +0.1%, RTY +0.2%) are mixed and trading incrementally on either side of the unchanged mark. Sentiment has improved in recent trade, given the strength in European equities since the cash open.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- DXY is marginally lower and back on a 104 handle in what has been a relatively quiet start to the week. The index is managing to hold above last week’s NFP-induced 104.82 low with Thursday’s CPI report set to be the next big test for the greenback.
- EUR has been able to shrug off initial worries surrounding the fallout of the French election which showed a strong showing for the left and uncertainty stemming from a hung Parliament. EUR/USD gapped lower at the open to 1.08 before printing a subsequent session high at 1.0842.
- GBP is steady vs the Dollar with fresh fundamentals lacking, though with traders mindful of speak from BoE’s Haskel later on. 1.2821 is the high watermark for Cable thus far, with not much in the way of resistance until the 12th June high at 1.2860.
- JPY is a touch softer vs. the USD but near levels traded on Friday in the wake of the NFP report. USD/JPY made an incremental new low overnight at 160.27 before the USD clawed back some losses vs. peers.
- Antipodeans are trivially softer vs the Dollar; AUD advanced as high as 0.6761 overnight before scaling back gains and slipping back below its 50DMA at 0.6742.
- PBoC set USD/CNY mid-point at 7.1286 vs exp. 7.2640 (prev. 7.1289)
- CNB Minutes (June): Zamrazilova & Kubelkova dissented and voted for a 25bp move. At upcoming meetings, board should discuss the option of slowing the decline in rates or stabilising them for some time. Frait said the CZK may be undervalued.
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- OATs gapped lower by 39 ticks on the open before then slipping further to a 123.36 base. Pressure in the wake of the surprise election outcome where NFP won. However, OATs have since picked up and are near unchanged on the session up to a 123.95 peak, potentially a function of the market cheering a removal of the right-wing risk.
- USTs are slightly underperforming Bunds/Gilts but only modestly so. US enters a particularly busy week with dual-testimony from Powell and then CPI headlining. Treasuries are pressured by around 7 ticks to a 110-11+ base, but remains in relative proximity to Friday’s 110-20 peak.
- Bunds are softer and holding just below the 131.00 mark in a 130.77-131.13 band. Data saw EZ Sentix for July come in at -7.3 (exp. 0.0, prev. 0.3), though sparked no real reaction.
- Click for a detailed summary
COMMODITIES
- Crude is softer intraday despite the rebound in risk across stocks, amid positive vibes regarding the Israel-Hamas ceasefire proposal. Brent September slipped from a USD 86.92/bbl peak to a USD 85.95/bbl trough.
- Precious metals are lower across the board and giving back some recent gains as the Dollar attempts a recovery and the DXY tries to mount 105.00 once again.
- Base metals are flat/mixed, with prices recovering from the overnight weakness as Chinese property stocks slumped.
- Hurricane Beryl makes landfall in Texas after hitting Mexico
- NHC said Beryl is forecast to strengthen to a hurricane again before landfall and a storm surge warning was extended along the Texas coast. NHC also announced that a hurricane warning is in effect for the Texas coast from Baffin Bay northward to San Luis Pass and Galveston Island, as well as for the south of Baffin Bay to the mouth of the Rio Grande River, according to Reuters. Furthermore, the NHC later confirmed that Beryl became a hurricane again.
- US Coast Guard shut the Port of Houston ahead of approaching Beryl, while ports of Texas, Freeport & Galveston were also shut by the Coast Guard, according to Reuters.
- Citgo began cutting production at its Corpus Christi, Texas refinery (165k bpd) ahead of Beryl but plans to keep the refinery running at minimum rates during the storm, according to sources cited by Reuters. It was later reported that the Port of Corpus Christi announced the port was closed due to Beryl.
- A fire broke out at a gas pipeline in Crimea due to an accident although there were no casualties, according to Russia-installed officials.
- Click for a detailed summary
NOTABLE DATA RECAP
- German Trade Balance, EUR, SA (May) 24.9B vs. Exp. 21.1B (Prev. 22.1B)
- EU Sentix Index (Jul) -7.3 vs. Exp. 0.0 (Prev. 0.3)
NOTABLE EUROPEAN HEADLINES
- German Economy Minister Habeck says the debt brake could only be held so far because defence spending goals were not reached; finance conditions do not fit to the security situation in Germany
- Maersk (MAERSKB DC) says extreme weather conditions are forecasted along the South African coastline for the next few days, particularly between Cape Town & Port Elizabeth. Weather will impact vessel movement and operation.
NOTABLE US HEADLINES
- US President Biden said he is convinced he is the most qualified person to beat Donald Trump and has done ten major events since the debate, while he pointed to his successes when asked if he was the same man as he was when he took office three years ago. Biden also stated he is still in good shape and that no one has said he needs neurological and cognitive tests.
- US Democrat Rep. Schiff said either Biden has to win overwhelmingly or he had to pass the torch and that Kamala Harris could win overwhelmingly but Biden needs to make a decision, according to Reuters.
- Microsoft (MSFT) orders China employees to only use iPhones (AAPL) for work from September, cutting off Android devices from the workplace, according to Bloomberg
GEOPOLITICS
MIDDLE EAST
- Israeli PM Netanyahu said any Gaza deal must allow Israel to continue fighting until all war objectives are met and the deal must not allow weapon smuggling to Hamas via the Gaza-Egypt border. Netanyahu added that thousands of armed militants cannot return to northern Gaza under the deal and that the proposal to which Israel agreed allows the return of hostages without compromising war objectives, according to Reuters.
- A revised proposal on a Hamas-Israel deal stated talks on the release of Israeli hostages including soldiers will start in a 16-day period after the first phase and an agreement on a hostage release deal is to be concluded before the end of the fifth week of the second phase, according to a senior Hamas source. Furthermore, the revised proposal involves mediators to guarantee a temporary ceasefire, aid delivery, and the withdrawal of Israeli troops as long as indirect talks continue to implement the second phase, according to Reuters.
- Egypt is to host Israeli and American delegations to discuss outstanding issues in Gaza and a ceasefire agreement, according to senior sources cited by Al Qahera News TV. It was also reported that CIA Director Burns is expected to visit Cairo this week for Gaza ceasefire talks.
- An Israeli air strike on a school sheltering displaced Palestinians in Gaza’s Al-Nuseirat killed at least 13 people, while the Israeli military said its airstrike targeted militants in an area near a Gaza school. It was also reported that senior Hamas government official Ehab Al-Ghussein was killed by Israel’s air strike in Gaza City, according to Reuters.
- Lebanon’s Hezbollah said it launched its “largest” air operation, sending explosive drones at a mountaintop Israeli military intelligence base in the annexed Golan Heights, according to SCMP.
- Moderate Pezeshkian beat his hard-line rival in the Iranian presidential race runoff, according to the interior ministry, while the vote is unlikely to result in a shift of policies but may shape the succession for Iran’s Supreme Leader Khamenei, according to Reuters.
OTHER
- Local Ukrainian authorities say air defences are operating during a rare daytime Russian missile attack, strikes reported in Kyiv. “A series of violent explosions in the center of the Ukrainian capital Kiev”, according to Sky News Arabia
- Ukrainian security source said Ukrainian forces hit a Russian munitions depot in the Voronezh region using drones, while a state of emergency was introduced in some parts of the Voronezh region following the drone attack.
- Russia has halted a Ukrainian attempt to hijack a Russian strategic bomber to Ukraine, via Tass; Ozerne airfield was struck to stop this.
- NATO will need 35-50 additional brigades under new plans to defend against Russia; Germany will need to quadruple air defence capacities under new NATO defence plans, according to sources cited by Reuters.
- North Korean leader Kim’s sister said South Korea’s recent drills near the border are inexcusable and explicit provocation, while she added that if North Korea’s sovereignty is violated, North Korea’s armed forces will immediately carry out their mission and duty according to the constitution.
- China is developing a new stealth aircraft which will be a fifth-generation fighter jet with stealth function and is likely to be deployed on China’s third aircraft carrier the Fujian, according to Nikkei.
- Philippines President’s Office announced the Philippines and Japan signed a reciprocal access agreement
CRYPTO
- Bitcoin is on the rise and paring some of the past week’s hefty losses; as it stands the coin holds above USD 57.5k, whilst Ethereum manages to climb back above USD 3k.
APAC TRADE
- APAC stocks were mostly lower as the region failed to resume the momentum from last Friday’s dovish post-NFP reaction, while the weekend macro news flow was light aside from the French election results.
- ASX 200 was dragged lower by energy and mining stocks, while a surprise contraction in Home Loans added to the glum mood.
- Nikkei 225 faded after initially bucking the trend and hitting a fresh record high before reversing course, as participants digested mixed data.
- Hang Seng and Shanghai Comp. were pressured with underperformance in Hong Kong amid weakness in property stocks, while the mainland also lacked demand ahead of this week’s key releases from China including CPI and the latest trade data
NOTABLE ASIA-PAC HEADLINES
- PBoC said it will conduct a temporary repo or reverse repo based on market conditions effective from July 8th and the tenor of the temp repo or reverse repo will be overnight loans, while it added the move is to maintain banking system liquidity reasonably ample and to increase the accuracy and efficiency of open market operations.
- China’s MOFCOM said China’s Vice Premier will co-chair the fifth meeting of the Sino-Russian intergovernmental cooperation committee in Russia on July 9th, according to Reuters.
- China’s auto manufacturers association is strongly dissatisfied with the EU Commission’s anti-subsidy tax rate, according to Reuters.
- Tokyo Governor Koike won re-election for a third term, according to exit polls cited by Reuters.
- Japan’s government says regular pay rose 2.5% Y/Y, which was the fastest pace of increase since January 1993.
- BoJ raises assessment for 2 of Japan’s 9 regions in quarterly report; cuts assessment for 2 of Japan’s 9 regions; maintains assessment for 5 of Japan’s 9 regions. Many regions said wage hikes are spreading among smaller firms to retain and hire new workers.
- China Auto Industry CPCA says 1.78mln passenger cars sold in June -6.9% Y/Y (vs 1.72mln in May); Tesla (TSLA) exported 11,746 China-made vehicles in June (vs 17,358 in May); says new energy vehicle exports currently face “temporary” pressure.
DATA RECAP
- China FX Reserves (USD)(Jun) 3.222tln (Prev. 3.232tln)
- China Gold Reserves (USD)(Jun) 169.7bln (Prev. 171.0bln)
- Japanese Labour Cash Earnings YY (May) 1.9% vs Exp. 2.1% (Prev. 2.1%)
- Japanese Current Account NSA JPY (May) 2849.9B vs. Exp. 2453.9B (Prev. 2050.5B)
- Japanese Bank Lending YY (Jun) 3.2% (Prev. 3.0%, Rev. 2.9%)
- Australian Home Loans MM (May) -1.7% vs Exp. 1.8% (Prev. 4.8%)
- Australian Owner-Occupied Housing Finance MM (May) -2.0% vs Exp. 2.0% (Prev. 4.3%)
END
2e) JAPAN
For years i have said look at Japan for the real turmoil start
3 CHINA
CHINA/
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
FRANCE
Leftist Coalition Set For Shock Victory In French Election; Le Pen Limps To 3rd Behind Macron!
SUNDAY, JUL 07, 2024 – 02:18 PM
Well, no one saw that coming…
The last-minute-arranged broad left-wing coalition known as The New Popular Front (NFP), was leading a tight French legislative election Sunday, ahead of both President Emmanuel Macron’s centrists and Le Pen’s rightists, projections showed.
Provisional estimates from four pollsters suggest the following seat projections:
- Left Alliance Set for 170-215 Seats
- Macron’s Group Set for 150-182 Seats
- Le Pen’s Group Set for 110-158 Seats
It looks like the anti-National Rally front worked better than anyone expected, catching the polling companies by surprise.
The projected results suggest that the co-ordinated anti-RN strategy, under which the left and center tactically withdrew their candidates from run-offs, had paid off.
If confirmed in final voting tallies, the projections suggest that none of the three main blocs will be able easily to command a governing majority, potentially leaving France in a period of political gridlock.
There are some big barriers to that given that Macron himself has called France Unbowed – a big part of the left’s New Popular Front – an extremist party and some of his supports have called against voting for its candidates.
AP reports that the French leftist leader,Jean-Luc Melenchon says elections are an “immense relief for a majority of people,” demands prime minister resign.
Melenchon says the New Popular Front government would apply its program and nothing but the program as he refuses any negotiation with Macron’s party or any combination. As Bloomberg reports, that theoretically would mean some disruptive changes of economic policy, and by decree according to Melenchon:
- Undoing the pension reform;
- raising the minimum wage;
- a 90% top marginal tax rate;
- and freezing prices of some consumer staples.
Not a pretty picture for French bonds either way.
Andrea Tueni, head of sales trading at Saxo Banque France:
“This is a big surprise, it’s a real blow for the RN. That being said, it’s not necessarily good for markets: The Nouveau Front Populaire taking the lead could generate concerns due to their program which was the most poorly perceived by the markets.”
French National Rally Leader Jordan Bardella warns this vote “has thrown France into the arms of the far-Left.”
erohedge.com/political/leftist-coalition-set-shock-victory-french-election-le-pen-limps-3rd-behind-macron
Presumably all the globalist fear mongering over the so-called ‘Hitler-ite’ Le Pen pushed the French people back into the immigrant-loving arms of the Left? Or something else went down?
UK
Leftist PM Starmer kills the illegal immigrant deportation scheme to Rwanda on day one. Still the citizens were charged 270 million pounds
(Watson/ModernityNews)
UK’s New Leftist PM Kills Illegal Immigrant Deportation Scheme On Day One
MONDAY, JUL 08, 2024 – 06:30 AM
Authored by Steve Watson via Modernity.news,
The new leftist British Prime Minister Sir Kier Starmer has on day one of his premiership scrapped a scheme to deport illegal immigrants to Rwanda which was devised by the previous Conservative government but never properly implemented.
Starmer’s Labour party had promised to kill off the ill conceived mess of a ‘solution’ to hordes of small boat migrants washing up on English shores, and he has indeed done so, reports the Telegraph.
The Rwanda scheme was first touted by Boris Johnson’s government, then continued to be bandied around under subsequent Prime Ministers Liz Truss and Rishi Sunak. However, it was proven to be toothless empty rhetoric, with not one single illegal immigrant being deported under the program.
Despite that, British taxpayers were charged to the tune of £270 million… for nothing.
The Labour government’s new Home Secretary, Yvette Cooper, has declared that one of the first duties will be to “keep our borders secure” and that she would prioritise creating a new Border Security Command.
No one is holding their breath though, given that the leftist Party is extremely pro immigration.
Still, things surely cannot get any worse than under the last Conservative government, which made Tony Blair’s relaxed immigration policy look positively isolationist.
Labour won the UK election this past week with an estimated vote share of just 34 percent, yet they now have 64 percent of the parliamentary seats under the first past the post political system.
All in all, around 80 per cent of UK citizens did not vote for this Labour government:
* * *
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UK
My wife’s favourite shop Burberry’s…
Burberry’s Turnaround Plan Falters, Prepares Job Cuts; Goldman Believes Brand In “M&A Sweet Spot”
MONDAY, JUL 08, 2024 – 04:15 AM
Burberry struggles to revitalize its business through a turnaround plan. The high-end, UK-based luxury clothing company, known for its signature beige check pattern, is failing to resonate with consumers, especially Chinese ones.
Last week, Goldman’s Louise Singlehurst told clients that the troubled designer has a “lack of catalysts for top-line stability” and remains “Neutral” on the company.
In mid-June, Singlehurst said that even with Burberry’s leather goods more accessible at entry-level price segments compared to luxury peers, recent price reductions on new handbags and clothing still suggest a challenging sales environment:
Looking at our pricing analysis, we show that Burberry’s leather goods offer has greater exposure to more entry level price segments when benchmarked versus the luxury peers (it has the largest offer of handbags below €1500). In addition we show the brand is targeting the higher priced segment with new product launches (adding to the €2000+ segment and now the €3,000+) over the past 18 months. However, our pricing tracker shows price reductions on a small selection of new handbag silhouettes (using data from June 5th versus April 30th) which are designs introduced by new Creative Director (Daniel Lee). We have observed only a small selection of price adjustments (5 styles, mainly within the Knight Bag and Rocking Horse designs) with a range of -4% to -16% in Euro and GBP (with the medium-sized Knight Bag in black leather seeing the largest reduction at -16% to £2,090). Whilst this does suggest that Burberry is actively reviewing its product offer and pricing architecture – a positive in our view – it does also suggest the sales environment remains challenging and Burberry is yet to reverse market share losses.
In May, CEO Jonathan Akeroyd told investors, “FY24 financial results underperformed our original expectations.”
Revenue has been sliding in the Chinese market, and that suggests consumers in the world’s second-biggest economy are giving up on the brand’s overpriced handbags and jackets.
“The Burberry brand doesn’t have, at the moment, the ability to resonate,” Luca Solca, a senior analyst at Bernstein Autonomous LLP, said, adding, “It either needs to change or it needs to work.”
As The Telegraph reports this weekend, that change involves hundreds of potential job cuts as the turnaround plan falters.
As many as 400 jobs could be at risk. Here’s more from the report:
Employees were first informed of the restructuring during a Zoom meeting in late June, with affected workers told they were either facing redundancy or having to reapply for their roles. The company has begun a 45-day consultation, signalling that hundreds of roles could be cut.
It is understood that union officials are coordinating redundancy settlements with a select group of employees. The company refused to say how many workers will be affected, but employees fear up to 400 jobs could be at risk.
Bloomberg data shows that Burberry has about 9,200 full-time workers, which provides some context on what the upcoming job cuts mean for the workforce as a whole.
Solca said, “One can only think that the Burberry reinvention has yet to succeed.”
He noted that Burberry’s low valuation, compared to that of its peers, could attract M&A activity.
A “buyer could undertake the grisly but arguably necessary measures to stabilize the Burberry brand away from the prying eyes of the public markets,” he said.
Goldman’s Singlehurst told clients last week that Burberry could be ripe for M&A with larger brands:
Small listed brands now in an M&A sweet spot: In the last 15 years, small brands (BRBY, SFER, ZGN) are trading at the largest discount relative to brand scale (12mf EV/GP or EV/Sales basis) vs. larger cap peers. We believe the market has been trading these businesses on standalone profitability, which is under increasing pressure, rather than factoring in M&A risk and earnings at scale. We use Tiffany/LVMH (completed Jan-21) as a case study to see how larger fashion houses can drive operational improvements in standalone businesses (noting recent consolidation e.g. CFR/Vhernier, L Cat./Tods, KER/Creed, KER/ 30% Valentino).
None of this should be surprising, as high inflation and rising interest rates weigh on consumer activity worldwide.
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS
Hamas Drops Key Demand, Making Gaza Ceasefire Deal Closer Than Ever
SATURDAY, JUL 06, 2024 – 07:15 PM
Following months of back-and-forth as well as contradictory reports of an Israel-Hamas ceasefire, which has proven elusive thus far, the two sides and their mediators could actually be getting closer this weekend.
CIA director Bill Burns is set to embark on yet another trip to Doha this coming week to rejoin negotiations focused on achieving a hostage exchange and broader ceasefire, Axios is reporting.
Axios previews that “Burns is expected to hold a joint meeting with the Prime Minister of Qatar, the director of the Israeli Mossad and the head of the Egyptian intelligence service in an effort to push forward the deal that could lead to the release of 120 hostages held by Hamas in Gaza and end nine months of war.”
The below fresh report from The Times of Israel suggests Hamas may have just dropped a major demand which had previously thwarted any progress. From the start of negotiations, Hamas leaders have conditioned peace on an Israel Defense Forces’ (IDF) total withdrawal from the Gaza Strip:
Hamas has given initial approval for a US-backed proposal for a phased truce and hostage exchange deal in Gaza, dropping a key demand that Israel give an up-front commitment for a complete end to the war, a Hamas and an Egyptian official said Saturday.
At the same time, a key stumbling block appeared to be Hamas’s desire for “written guarantees” from mediators that Israel will continue to negotiate a permanent ceasefire deal once the first phase of a ceasefire goes into effect.
The Hamas representative told The Associated Press the group’s approval came after it received “verbal commitments and guarantees” from mediators that the war won’t be resumed and that negotiations will continue until a permanent ceasefire is reached.
The report stresses that “Hamas says it dropped demand Israel vow up-front to end war, but wants mediators’ guarantees.” If true this could prove a major opening, given PM Netanyahu had long focused on this specific demand as being a non-starter, making progress in talks impossible.
If a deal is achieved, it could result in the first full ceasefire of the conflict. According to diplomatic sources involved:
The Hamas and Egyptian officials, who spoke on conditions of anonymity to discuss the ongoing negotiations, said Washington’s phased deal will first include a “full and complete” six-week ceasefire that would see the release of a number of hostages, including women, the elderly, and the wounded, in exchange for the release of hundreds of Palestinian prisoners. During these 42 days, Israeli forces would also withdraw from densely populated areas of Gaza and allow the return of displaced people to their homes in northern Gaza, the pair said.
In the US, a deal would lessen intensifying pressure on the Biden White House, given it has been losing support especially among Progressives due precisely to the president’s Gaza policy.
Netanyahu is expected to travel to DC at the end of this month to address Congress, and so far media reports are saying it is ‘likely’ he will meet with President Biden. Any potential ceasefire deal would ease the pressure of such a visit, certainly from Washington’s point of view at least.
end
Why did Israel shift military pressure and hostage release tactic? – analysis
The decision to move from “there won’t be Hamas” and “military pressure brings hostages home” to some kind of de facto ceasefire and managed conflict, and leaving Hamas in power, will not bode well.
By SETH J. FRANTZMANJULY 7, 2024 16:50
In mid-November, a month after the Hamas massacre of October 7, the IDF was fighting with intensity in Gaza. Divisions of troops were deployed around Gaza City and Hamas was facing a major onslaught of Israeli armor and infantry as well as hundreds of airstrikes during the night and day. The ground battles in November, which had begun with an offensive on October 27, achieved some of their goals. One of the goals was to return hostages. A deal was agreed to and hostages were released in late November, 2023.
At the time the Israeli public was told that the military pressure of the ground offensive had worked to secure the release of the hostages. Now, all that had to be done, was to apply more pressure and more deals would take place. However, there were no more deals for months. Hamas, backed and hosted by Western ally Qatar, continued to stick to its demands and even increase them. Meanwhile, Israel seemed to give Hamas a lot of what it wanted without any kind of need for Hamas to give Israel anything. The IDF withdrew from northern Gaza and then it withdrew from Khan Younis in April. Today the IDF is fighting in Rafah and Shejaiya, but Hamas controls most of Gaza. Hamas control of the central camps, in Nuseirat, Bureij, Maghazi and Deir al-Balah has never been contested. There remain key areas the IDF has not operated in throughout Gaza.
What happened to the military pressure doctrine? On July 6 CNN reported that Hamas had slightly changed its position in regards to a new deal with Israel. “The change in Hamas’ position was first reported by Reuters, and comes amid intensified efforts towards reaching an agreement. The group has long demanded Israel agree to a permanent ceasefire before signing any deal, terms Israel sees as unacceptable. The apparent willingness to compromise raises the possibility a deal could be reached,” CNN noted. “Hamas would instead accept that talks on reaching a permanent ceasefire would take place throughout the first phase of any deal, which would last six weeks, the official told CNN,” the report said.
It appears that today the big discussions around a ceasefire deal relate to whether the IDF will withdraw from the Netzarim corridor or from Rafah, and whether this will be “permanent.” This is a big change from back in November when Israel’s Defense Minister had said “This will be a brief pause. When it ends, the fighting will continue forcefully, and will create pressure that will allow the return of more hostages.”
It’s clear that the pressure was removed from Hamas sometime in February or March of 2024. This is when the IDF not only shifted to a lower intensity conflict under pressure from the West but also when Israel chose to reduce the fighting for Ramadan. Since then, Hamas has felt that it almost achieved a kind of de facto ceasefire in much of Gaza. The IDF went into Rafah in May and it has returned to areas in northern Gaza, such as Jabaliya, and Shejaiaya and carried out various raids in other places, but Hamas can sit content thinking these operations will be short and temporary. This means Hamas is not facing increasing pressure. Hamas likely hears from its foreign backers and hosts abroad that if it just holds out a little longer, some kind of deal will take place.
Israel’s messaging on the war has also shifted, or been different depending on the politician and official that is speaking. Back in November Gallant was quoted as saying he expected two more months of fighting. At the end of May Israel’s national security adviser, Tzachi Hanegbi, said “we are now in the fifth month of 2024, which means we expect another seven months of fighting to deepen our achievements and achieve our goal of destroying the military and governmental capabilities of Hamas and Islamic Jihad.”
Hamas can read these reports as well. They know that a timetable seems to exist. All they have to do is hold out for a bit longer and they expect Israel to leave. Israel also seems to change its goal posts, from talk of “Hamas is ISIS” and “there won’t be Hamas” to talk of just reducing its capabilities. Hamas knows that its capabilities have been reduced before, back in the Second Intifada, back in the 2006 and 2009, 2012, 2014, 2018, 2021. Back in 2021 the IDF and officials had claimed that Hamas had been dealt a heavy blow in Israeli strikes on the Hamas underground “metro.” At the time Prime Minister Benjamin Netanyahu noted, “I said we would strike Hamas and other terror groups with significant blows, and we are doing so. In the last day we have attacked underground targets. Hamas thought it could hide there, but it cannot.”
However, Hamas was still hiding in tunnels after that war and it has been hiding in them for nine months of the current war. There is lack of clarity on why the military pressure that Israel believed would bring hostage releases, was relaxed in March and April. Hamas has had the breathing space it needed to continue to believe it can win the war by surviving. Hamas works with its foreign backers, such as Doha, Ankara, Tehran, Moscow, Beijing and others and those countries likely tell it to keep going.
It’s not clear if the current hostage talks will go anywhere. In the past six months, there have been similar endless rounds of talks. The hostages continue to languish in Gaza, and some have been killed. For most countries it would be unconscionable to leave its soldiers and civilians, including young women hostages, to be held just a mile or two from the border by a relatively weakened terrorist group. For Israel, this has become the norm. Why it has become the norm is not clear. There was a time when Israel rescued hostages, such as at Entebbe, but those days are gone. Today when foreign terrorist groups such as Hamas kidnap Israeli soldiers, the first thing that happens is to wait. Israel waited in October from October 7 to 27 before launching a ground offensive. What was the point of the waiting? It allowed Hamas to regroup and move hostages around, including to civilian homes.
How to bring the hostages home: Military action or negotiating with terrorists.
Then in November when the ground offensive was successful, Israel moved to a belief that military pressure would bring hostage releases. However, that motto quickly changed because the pressure was reduced systematically beginning in January and February until in March and April there was almost a de facto ceasefire. Rather than trading pressure for hostages, Israel gave Hamas breathing space, perhaps due to pressure from the US or Doha or others. It’s unclear why the policy changed from “military pressure brings deals” to a belief that a kind of de facto ceasefire and letting Hamas run Gaza and giving Hamas most of what it wanted would succeed. Clearly, this policy has not succeeded and even if there is a deal and some hostages return, the tragedy of leaving them in Gaza for nine months leaves a black mark on Israel. They should never have been left one day in Gaza. The fact that some of them were killed while in Gaza should haunt us.
The decision to move from “there won’t be Hamas” and “military pressure brings hostages home” to some kind of de facto ceasefire and managed conflict, and leaving Hamas in power while only reducing its capabilities, is a strange strategy that likely does not end well. Furthermore, there is an inherent contradiction in the theory that the current tactic of IDF raids in Gaza will be able to be modelled on the tactic in the northern West Bank. If there is a ceasefire deal, it is unlikely the raids will continue, meaning Gaza will not end up like the northern West Bank. In fact, the more likely scenario is that the northern West Bank may end up like Gaza in the coming years, rather than the other way around. This will be the case unless tactics and strategy shift in Gaza.
ISRAEL/WEST BANK
end
ISRAEL/HEZBOLLAH/LEBANON
end
ISRAEL/HAMAS/HEZBOLLAH
ISRAEL/HEZBOLLAH
ISRAEL/HOUTHIS/RED SEA
END
UKRAINE/
Robert H to us:
“today’s estimated dead count 2,500 in Ukraine and more likely 3000 daily. How many get wounded is a wild guess. No one counts death in vehicles like tanks or Bradley’s and the like.
Open field warfare is not a reality in Ukraine. They sit in trenches waiting and die.
Meat grinder works daily for these poor souls. There can be no Ukrainian real counter offensive that works. Only more dead soldiers and more tears amongst the living in a most corrupt place. There is no legitimate leadership in Ukraine; it is an effective dictatorship as a proxy of NATO in a futile effort wasting precious money the West does not have to waste.
Sooner or later reality will commence and the West will dump this conflict and lick their egos and move on. Political minions do poorly on battlefields.
What people ignore is the use of depleted uranium shells in Ukraine without any understanding of long impact on a food growing area. This impact will last long after this conflict is finished. Whether it is a month or 6 months Ukraine is finished as a real country and likely will be broken up and end up as a rump of its former self.
A total farce while the SCO and BRICS march on. Does anyone imagine what will happen when this group decides to settle in precious metals for trade settlement. We in the West are totally lost in a hubris of a non strategic fight with Russia. Russia has decided to dump the past relationship’s with the West and this is a systemic crisis for Europe because of financial decline. It is why this week even Poland decided to offer residency for $75,000 USD annually as a tax deal. The rest you keep to encourage wealth movement to Poland.
Maybe political elite change occurring now will be the dose of reality needed to accept realities of the battlefield to focus on individual country focus. Some European countries are realizing the they must reach out to Eurasia to avoid a threat to their existence. Native values in many European countries are changing and some values may never return. People forget the highest costs of energy are in Europe. This causes the standard of living is falling as industry fails to adapt. Much of this production is headed to Asia and not to North America.”
RUSSIA/UKRAINE
‘Barbaric’: Russia Accused Of Attacking Kiev Children’s Hospital On Eve Of NATO Summit In D.C.
MONDAY, JUL 08, 2024 – 02:00 PM
The war in Ukraine continues on a downward spiral, taking another grim and tragic turn, amid widespread allegations that Russian forces destroyed a children’s hospital in Kiev amid a bigger barrage of missiles which hit several sites on Monday.
UN officials and Ukraine authorities say at least 31 people were killed Monday after some 40 missiles were launched across the country. There are reports that people are still buried under the rubble of Okhmatdyt children’s hospital. Local officials say at least seven have been killed in these specific strikes on the Ukrainian capital.
Okhmatdyt has a children’s cancer ward, and images have been widely circulating of children receiving IV treatments on a nearby sidewalk after the hospital was reduced to ruins. Britain’s Foreign Minister David Lammy blasted the hospital strike as “an appalling attack on Ukrainian civilians.”
France also called it a “barbaric” act, with a statement saying “Deliberately targeting a children’s hospital can be added to the list of war crimes for which Russia will have to account.” And a German foreign ministry statement additionally called out President Putin directly, saying, “This is what Putin’s… willingness to negotiate and desire for peace look like.”
EU foreign policy chief Josep Borrell posted to X, “Russia keeps ruthlessly targeting Ukrainian civilians … Ukraine needs air defense now. All responsible for Russian war crimes will be held to account.” This comes the same week the major NATO annual summit with heads of alliance states is set to meet in Washington D.C.
At this moment, Hungary’s Viktor Orban is in Beijing, where he met with President Xi Jinping, to talk about ways forward to achieving ceasefire or peaceful settlement in Ukraine. Hungary is calling this “Peace Mission Beijing 3.0”.
But Russia’s Defense Ministry (MoD) is vehemently denying that its missiles struck the hospital, instead saying only “intended” military targets were hit. For example the MoD says it took out three HIMARS missile batteries.
Interestingly, the MoD statements says there were “foreign specialists” that were killed in the strike. “Operational/tactical aircraft, unmanned aerial vehicles, missile troops and artillery of the Russian groups of forces destroyed three US-made HIMARS multiple rocket launchers and up to 10 foreign specialists responsible for their use and struck massed enemy manpower and military hardware in 122 locations,” it said.
As for the children’s hospital, Moscow is now claiming that the destruction was the result of an errant Ukrainian anti-air defense missile. Below is the Russian narrative of the event via TASS:
“The allegations made by Kiev officials about a deliberate Russian missile strike on civilian targets are absolutely untrue. Numerous photo and video reports from Kiev, which have been made public, make it clear that damage was done by a falling Ukrainian air defense missile launched from a missile system deployed within the city limits.”
Images like the below are now widely circulating of children who were evacuated in the wake of the strike, now receiving treatment on the streets of the capital city…
The Kremlin has further highlighted the timing of the hospital strike, saying that the allegation is ultimately aimed to immediately attract more funding and Western anti-air systems which Zelensky has been desperately pleading for. The Russian military said, “the Kiev regime has been throwing such tantrums for years, each time ahead of a get-together (summit) of its NATO sponsors.”
“The goal of such provocations is to ensure the further inflow of funds for the Kiev regime and a continuation of the war until the last Ukrainian,” the statement added.
Zelensky has responded: “Russian terrorists once again massively attacked Ukraine with missiles. Different cities: Kyiv, Dnipro, Kryvy Rig, Sloviansk, Kramatorsk. More than 40 missiles of various types. Residential buildings, infrastructure and a children’s hospital were damaged,” he said on X.
Amid an ongoing major rescue mission at Okhmatdyt hospital, the casualty count is likely to rise throughout the day as bodies are pulled from the rubble. Once again we are presented with two wildly contrasting accounts at a very pivotal moment. And the timing of it all… NATO will make major decisions at the Washington summit this week, and Hungary’s Orban is shuttling across the globe pleading for the sides to come to the negotiating table.
Zelensky says the US, EU or China but not Hungary could meditate Russo-Ukrainian peace talks. It must be the first time he mentions China in that context – the only real potential mediator among the three. And it is China where Orban headed to after Kyiv and Moscow. Not mediator, but maybe a courier? Zelensky didn’t mention Turkey which is curious, but doesn’t necessarily mean anything.
·
4,892 Views
Two realities remain amid the ongoing dense ‘fog of war’: 1) errant anti-air defense missiles from Ukraine have caused death and destruction before, and 2) any time Russia unleashes dozens of long-range missiles against Ukrainian cities, the potential that civilian infrastructure – including hospitals – could be struck and destroyed remains a likelihood.
Sadly this puts more distance between those trying to lay the groundwork for truce talks, and those hawks wishing to escalate the war.
The two sides will now in the wake of the tragedy enter an all-too-familiar information war of ‘narratives’. But the broader focus, in an ideal world, would be a big global diplomatic push for peace now.
end
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
Top Oncologist Warns Cancers Are Surging in Vaxxed Patients – Slay News
ROBERT H
“There is no surprise here as this is now widely being discussed amongst doctors.
Logically if you suppress an immune system where cancer existed before and the deformed cells are ignited to grow the outcome is clear.
It is why Ivermectin continues to be frowned upon or banned for human use and why the use of simple things like baking soda to make the body more alkaline is ignored.
The removal of many people from society will carry out its own social and economic impact on society for a long time. Add to this the coming inability to cope with inflation which will add to poor eating habits by force illness will grow augmented by a lack of qualified people. As it it in some cases medial line up for appointments are at 6 months and growing.”
end
“There is no surprise here as this is now widely being discussed amongst doctors.
Logically if you suppress an immune system where cancer existed before and the deformed cells are ignited to grow the outcome is clear.
It is why Ivermectin continues to be frowned upon or banned for human use and why the use of simple things like baking soda to make the body more alkaline is ignored.
The removal of many people from society will carry out its own social and economic impact on society for a long time. Add to this the coming inability to cope with inflation which will add to poor eating habits by force illness will grow augmented by a lack of qualified people. As it is in some cases medial line up for appointments are at 6 months and growing.?
.
WORLD EVENTS NOTEWORTHY
END
WORLD HEALTH ISSUES
Ann Wilson has cancer; Pink cancels show; Pearl Jam cancels more shows; Neil Young “suddenly” cancels tour; Willie Nelson misses show; Chris Evert beats cancer; Rep. Jackie Speier has breast cancer
Reality TV star Claudia Jordan “tests positive” for “Covid” AGAIN; country singer Chris Young’s step-father has a heart attack; A’s coach Mike Aldrete’s wife has multiple myeloma; & more
| MARK CRISPIN MILLERJUL 6 |
Also, “Kris Jenner tearfully opens up about having her ovaries removed after finding tumor.”
UNITED STATES
Ann Wilson, lead singer of Heart, reveals cancer diagnosis and postpones tour
July 2, 2024
Ann Wilson, the lead singer of rock band Heart, is battling cancer and will be stepping back from the Royal Flush Tour for the remainder of the year to focus on her health and recovery. Wilson, 74, shared the news with fans in a heartfelt post Tuesday on Instagram, detailing her health and expressing her regret over the tour postponement. “I recently underwent an operation to remove something that, as it turns out, was cancerous,” she wrote. “The operation was successful & I’m feeling great, but my doctors are now advising me to undergo a course of preventative chemotherapy & I’ve decided to do it.”
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.
Pink forced to cancel her upcoming concert after doctor issues warning
July 2, 2024
The singer was set to perform at Wankdorf Stadium in Bern, Switzerland, on Wednesday, July 3. Pink was forced to cancel the concert on “doctors advice” after undergoing a “medical examination.” She is currently on her Summer Carnival tour.
No age reported.
Pearl Jam cancel more tour dates over illness
July 1, 2024
Pearl Jam have cancelled more European tour dates due to continuing illness within the band. The rock band had already cancelled a show they had been scheduled to play at London’s Tottenham Hotspur Stadium over the weekend. They have now also cancelled two dates at Waldbühne in Berlin on 2 and 3 July. “Despite everyone’s best efforts, the band has yet to make a full recovery,” the band said in a statement, external shared on social media. Their next live show is currently scheduled for 6 July in Barcelona. In their statement, the band expressed their disappointment and emphasised the difficulty of the decision to cancel.
Neil Young suddenly cancels all tour dates due to illness
July 2, 2024
Neil Young has had to suddenly cancel all his upcoming tour dates due to illness. In a message on Young’s website , it was revealed that all remaining dates on Neal Young and Crazy Horse’s Love Earth Tour have been canceled. “The Love Earth Tour has been a great experience for us so far,” the message began. “GREAT AUDIENCES AND MUSIC. WE HAVE HAD A BLAST!” The message then explained, “When a couple of us got sick after Detroit’s Pine Knob, we had to stop. We are still not fully recovered, so sadly our great tour will have a big unplanned break. We will try to play some of the dates we miss as time passes when we are ready to Rock again!”
Willie Nelson to miss another stop on ‘Outlaw Music Festival Tour’ tonight due to ongoing illness
July 3, 2024
Another huge bummer. This afternoon, Willie Nelson’s team put out a new statement saying the country legend will once again miss a stop on the 2024 edition of his Outlaw Music Festival tour tonight due to an ongoing (undisclosed) illness. He missed the first run of shows that kicked off a couple weeks ago in Alpharetta, Georgia and Charlotte and Raleigh, North Carolina, as well as this past weekend of concerts, after his team said he wasn’t feeling well, and per doctor’s orders, had to rest for what was initially just the first stretch of shows. And after missing stops in Syracuse and Wantagh, New York, or Holmdel, New Jersey, Willie will not make it to Mansfield, Massachusetts, tonight, either. The post on his social media channels say that he will be performing at the show in Camden, New Jersey on July 4th and beyond, though at this point I would caution to think that’s a sure-fire bet. I mean, the man is 91 years old, and it’s beyond impressive that he can still get out and perform in any capacity, let alone headline amphitheater shows, so obviously it’s most important that he continue to rest if that’s what he needs.
Just yesterday, in Camden, NJ, Nelson reappeared on stage, his recent “health scare” behind him, and received a standing ovation:
‘The Kardashians’: Kris Jenner tearfully opens up about having her ovaries removed after finding tumor
July 4, 2024
Kris Jenner ‘s official medical diagnosis has been revealed. The famed momager and Kardashian-Jenner matriarch told her daughters in the newest episode of Hulu ‘s The Kardashians that her doctors found a tumor on her ovary that would require her to have both her ovaries removed. “I’m just really emotional about it because they came in handy with you guys,” Kris says through tears, before explaining, “I’m emotional about it because that’s where all my kids were conceived and that’s where they were grown, in my tummy. And so [it’s a] very sacred place to me.”
Former RHOA star Claudia Jordan reveals she tested positive for COVID again: “Y’all be careful being outside”
July 5, 2024
Former Real Housewives star Claudia Jordan has revealed that she has tested positive for COVID-19. She took to Instagram on Friday to share the unfortunate news and issued a warning to her followers about the importance of being cautious. In her Instagram post, Claudia expressed her concern about the virus and how it has affected her health. She mentioned that she believes she contracted the virus during her time in Los Angeles or on the plane ride back, where she encountered people coughing without covering their mouths. Claudia went on to describe her symptoms as severe, stating that she has been bedridden since Monday and experiencing dizziness, weakness, chills, and body aches.
Tennis legend Chris Evert beats cancer again and is back in her element at Wimbledon: ‘You can’t live in fear’
July 2, 2024
Tennis legend Chris Evert, 66, six months after announcing that her ovarian cancer had come back, has returned to Wimbledon to resume her ESPN sports commentator duties — as she says she has beaten cancer for the second time. In an interview with the New York Times on Monday, the first-time grandmother — who is in London covering the famed tennis tournament for the next two weeks — gushed over her new pride and joy.
Former Rep. Jackie Speier announces she’s battling breast cancer
July 4, 2024
San Francisco, CA — Former U.S. Representative Jackie Speier [74] announced on Thursday that she’s battling cancer. “I just became one of the 300,000 women per year who are diagnosed with breast cancer,” she said in a Facebook post. Rep. Speier said it was discovered early, and she had a successful lumpectomy on Tuesday. “I had a mammogram in June of 2023 and was scheduled for one in June this year. I almost didn’t go because of summer activities. Thank goodness I didn’t cancel.” She said she is being treated at UCSF.
Chris Young’s dad suffers a heart attack
July 1, 2024
[Country singer] Chris Young’s step-father — whose name is Michael Harris, and who means so much to the singer that he calls him Dad — suffered a heart attack on Saturday (June 29). Young was out on the road at the time, and he played his Greeley, Colo. show as scheduled, but not without posting a message of gratitude that his dad is OK.
No age reported.
One athlete’s wife has cancer, while another athlete’s wife is now deemed “cancer free”:
A’s coach Mike Aldrete stepping away as wife has treatment for multiple myeloma
July 4, 2024
San Francisco, CA – For the first time as a baseball lifer, Aldrete will be stepping away for a lengthy stretch of the summer. Friday, he is leaving his post as the A’s hitting coach for a month in order to help his wife, Gina, as she goes through a cutting-edge treatment for multiple myeloma at UCSF. “On the one hand, I don’t want to say that it’s been hard on me because there’s nothing as hard as what she’s going through,” Aldrete said. [Paywall]
Chad Kuhl glad to be back pitching for White Sox after wife is declared cancer free
June 29, 2024
Chicago, IL — Chad Kuhl has proven to be a reliable relief pitcher, and sometimes even spot starter for the White Sox. But any pressure he feels to perform on the mound is nothing compared to what he and his family went through in the past year. “You know, I’ve had the game taken away from me from Tommy John surgery in 2019, so I know what it feels like to kind of miss the game—for different reasons last year—but it’s just super special to be back.” Those different reasons for missing the game, started with Kuhl’s wife, Amanda, going to the doctor for a routine visit in January of last year. “She was going to her yearly appointment, and we were thinking about the opportunity for having baby number two, and the doctor found a lump—and a week later, it turned out to be breast cancer,” Kuhl said.
No age reported.
Legendary CT political reporter recovering from cancer treatment
July 1, 2024
Connecticut – Mark Davis, the legendary political reporter who retired from WTNH-TV in 2020, is recovering from bladder cancer treatment, The Laurel reports. Davis is back home, and his doctor reportedly told him that he will be hiking again in the fall. At the time of his retirement, Davis had spent more than 35 years at WTNH, and more than 50 years as a broadcast journalist on radio and television. His retirement in the fall of 2020 came, in part, due to the difficulties of returning to work during the coronavirus pandemic; Davis had taken a leave of absence at the start of the pandemic as a safety precaution. Before his retirement, Davis was a fixture at the state Capitol during his tenure, won multiple Emmy Awards, and in 2004, broke the huge scoop that then Gov. John Rowland was resigning.
No age reported.
GoFundMe launched for former WCW wrestler & booker Kevin Sullivan
July 5, 2024
Two months ago, it was reported that former WCW wrestler and booker Kevin Sullivan, whose impact on the wrestling business is undeniable, had sadly been hospitalized. The exact nature of the 74-year-old’s condition, which necessitated emergency surgery, wasn’t disclosed, although the unfortunate situation was described at the time as being very serious. And now, a GoFundMe has been launched to assist him with medical bills and other expenses due to his current insurance being almost exhausted.
end
And this news just came in (from Japan): Wrestler Minoru Suzuki collapses during match
It’s getting ever harder to keep up with all these mystery “collapses,” just as with all the “sudden deaths”
| MARK CRISPIN MILLERJUL 6 |
This one popped up after I posted about similar cases in Canada, Cuba, Brazil, UK, Germany, Denmark, Taiwan and New Zealand.
JAPAN
Japanese Promotion Issues Statement On Minoru Suzuki’s Condition After He Collapsed During Match
July 6, 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.
In what must have been a terrifying situation for fans in attendance, Minoru Suzuki collapsed during his match at Saturday’s Tenryu Project event. The Japanese freelancer who has worked for New Japan, AEW, ROH, MLW, and GCW over the past year passed out during the bout, and after failing to respond to the referee, the match was stopped.
Thankfully, the 56-year-old quickly regained consciousness, and now, following a visit to the hospital, the promotion has confirmed via their official website he was diagnosed with a concussion, with there being no bleeding on the brain.
DR PAUL ALEXANDER
appears to be happening again. Oddly enough, it’s precisely the same cast of characters as last time.’
| DR. PAUL ALEXANDERJUL 6 |
‘By Dr. Michael Yeadon June 7, 2024
Obviously, I now understand the methodology.
Alexander MAGA COVID News; a PCR manufactured COVID pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
There’s absolutely nothing to fear except fear itself. Familiar ring, eh?
Do remember, a century of published clinical experimentation has failed to demonstrate that, whatever the causes of acute respiratory illnesses, they are NOT CONTAGIOUS.
In no case, when a healthy person (“recipient”) was asked to remain in close proximity for hours to a person unwell with such an objectively determined illness (“donor”), like we used to use to decide if someone is unwell, did the recipient healthy person go on to develop the same symptoms.
Just to be clear, we mean here “the recipient people didn’t develop similar symptoms to those of the donor people at a frequency greater than when two healthy people shared the same space for the same period of time”.
They sought evidence of transmission, aka contagion, and failed to find it, study after study, from 1918 to the present day.
Some investigators very recently made the same kind of attempt to see if healthy recipients would “catch covid19”, whatever it was that had caused the donors here to be unwell. In that study, too, the healthy recipients did not become unwell.
I recognize that many people will reject this evidence. They’ll cast around for reasons why the conclusions must be invalid. They do that because many people are “sure” that they’ve definitely “caught” colds or the flu from sick people or that they’ve “infected” others in the same manner.
I confess I struggled with this at first, dismissing what I was being told out of hand. I did so because i, too, “knew” that in the past, I’d “caught” colds from others.
The evidence shows that this doesn’t happen.
That then simply invites us to find other explanations for our strong sense that contagion in relation to acute respiratory illnesses does happen.
Do note I’m not commenting on contagion generally. Right now, I suggest we focus only on the type of illness being used to crush our freedoms and medical autonomy. Diversionary discussions aren’t helpful.
As a scientist, I’ve explained before that one is in no way obligated to provide a new hypothesis while invalidating a current one, now shown to be in discord with a mass of empirical evidence.
However, it might be helpful in making a mental transition to be aware of some possible alternative explanations.
1. Acute respiratory illnesses are really quite common. I experience a couple of colds annually. Flu, rarely, only 3 times in my life. Being commonplace, consider how likely it is that you might develop a cold over the next couple of weeks. It’s not that low a probability. If you do, you’ll cast your mind back. If you recall a person with similar symptoms, you may well conclude you caught it from them. How many occasions did you have such encounters, yet not go on to develop a cold? It would be fair to ask that question. I think we rarely notice when we don’t “catch a cold”. Here, the explanation proposed is coincidence of two, not uncommon things.
2. People do become unwell with acute respiratory symptoms. There’s no argument against that, only it’s cause. Whatever the cause is, imagine there’s an environmental or other shared component (like diet, or even genetics). You develop a cold and someone you live with or work with shortly afterwards also goes down with a cold. While it’s entirely understandable that you both conclude it was passed between you, here I’m proposing that you both developed the same kind of illness because of shared environmental factors.
3. We’ve this mental model of causation of acute respiratory illnesses. We’re told they’re due to submicroscopic, infectious particles called “viruses”. But if they’re not the cause, what might be? I confess I do not know. However, I laid out a decent length hypothesis a while ago on this channel. Essentially, a derangement of regulation of airway surface liquid and associated mucus and the mucocilary escalator mechanism which, among others, keeps your airways in good order.
Changes in temperature, humidity, various solutes and salts, are hypothesised to trigger an inflammatory response & it’s this that we notice as “a cold”. In this hypothetical model, if you’re run down, stressed and don’t have time to attend to your bodily clues and cues, you’re more likely to develop all sorts of syndromes.
Anyway, bottom line is, you’re being lied to about chicken influenza. Ditto cow flu. Just laugh at them and point out to others, this sounds the same sort of lying & catastrophising that we heard in early 2020.
It was mad and illogical for the events that followed to have happened. None of it happened by luck. There was an agenda to amplify whatever it was for malign motives.
The same thing appears to be happening again. Oddly enough, it’s precisely the same cast of characters as last time.
Please don’t give in to fear.
Best wishes,
Mike’
Dr. Mike Yeadon: You’re Being Lied to About Chicken Influenza (substack.com)
EVOL NEWS
.
LATEST NEWS:
SLAY NEWS
| The latest reports from Slay News |
| Covid Shots Caused Surge in Sudden Cardiac Deaths Among Pilots, Study FindsA bombshell new study has confirmed that the surge in sudden cardiac-related deaths among pilots over the last three years was caused by Covid mRNA shots.READ MORE |
| Doctors Gave Down Syndrome Covid Patients ‘Do Not Resuscitate’ Orders without ConsentAlarming new evidence has emerged that doctors secretly issued “Do Not Resuscitate” (DNR) orders for Down syndrome patients who tested positive for COVID-19.READ MORE |
| Appeals Court Hands Biden Small Victory by Backing Student Debt PlanAn appeals court has given the green light to Democrat President Joe Biden’s plan to pay off the student loan debts of college-educated voters using taxpayer money.READ MORE |
| NYT Reporter Cuts to the Chase: ‘I Wish Somebody Would Kill Trump’A New York Times reporter has said the quiet part out loud while expressing how the Left really feels about President Donald Trump.READ MORE |
| Top Democrat Calls for ‘Mini Primary’ to Select Kamala Harris’ VP Running MateIn a significant development, powerful Democrat Rep. James Clyburn (D-SC) has called on his party to hold a “mini primary” in order to select a vice presidential running mate to join Kamala Harris on the 2024 ticket.READ MORE |
| Ex-Clinton Advisor Doug Schoen: Biden ‘Out of the Race in a Couple of Weeks’Former Bill Clinton advisor Doug Schoen has asserted that President Joe Biden will soon drop his re-election bid.READ MORE |
| Supreme Court Opens Door for Jack Smith’s RemovalThe United States Supreme Court has set in motion a process that may lead to the removal of Special Counsel Jack Smith.READ MORE |
| North Carolina GOP State Senator Perry Resigns without Seeking Re-ElectionA prominent Republican North Carolina state senator has announced he is resigning and won’t be seeking re-election.READ MORE |
| BBC Host ‘Jokes’ That Biden Should Use Supreme Court Immunity Ruling Have Trump KilledA foreign media host has weighed on the recent Supreme Court ruling on presidential immunity by “joking” that it could allow President Joe Biden to murder the Democrats’ political enemies.READ MORE |
| Rob Reiner: ‘This Will Be the Last Independence Day’ If Trump Wins in NovemberHollywood leftist Rob Reiner has attacked President Donald Trump in a rant to commemorate the Fourth of July.READ MORE |
| Poll Shows Only One Democrat Has a Chance against Trump in NovemberA new poll of hypothetical matchups for the November election has revealed that only one Democrat has a chance against President Donald Trump.READ MORE |
| Biden’s Efforts to Smear Trump as ‘Convicted Felon’ Now Undermined by Presence of Hunter as AdvisorDemocrat President Joe Biden’s move to bring his convicted felon son Hunter in as an advisor may cost him dearly on the campaign trail.READ MORE |
| Ex-Clinton Advisor: ‘Dead Joe Biden’ Is Better Than Kamala HarrisAs panic over the crisis regarding President Joe Biden’s fitness for office continues to deepen among the Democratic Party elite, many are now realizing that the remedy is worse than the disease.READ MORE |
The latest reports from Slay News
| The latest reports from Slay News |
| Doctors Warn of ‘Alarming 3000% Increase in Unexplained Child Deaths’A group of prominent Canadian medical doctors and scientists has just held a press conference to warn the public about a staggering spike in child deaths.READ MORE |
| Hundreds of Doctors & Scientists Sign Bombshell Accord Demanding Ban of Covid mRNA ShotsThousands of people, including hundreds of medical doctors and scientists, have signed a bombshell accord calling on governments around the world to ban Covid mRNA shots.READ MORE |
| Howard Dean: Democrats Will Rally Behind Kamala Harris to Avoid ‘Bloodbath’Democrat Howard Dean has asserted that the Democratic Party is preparing to rally behind Vice President Kamala Harris as the presidential nominee.READ MORE |
| Democrat Senator Squirms, Refuses to Endorse Biden in Awkward InterviewDemocrat Senator Peter Welch (D-VT) refused to endorse President Joe Biden’s fitness to serve during questions about his degraded mental and physical health.READ MORE |
| Biden Triggers More Democrat Panic with ‘Joke’ about Brain DamagePresident Joe Biden appears to have added to the fears about his fitness for office while trying to reassure top Democrats.READ MORE |
| Corrupt Oklahoma Judge Suspended after Being Implicated in Two Drive-By ShootingsAn embattled Oklahoma judge has been suspended following a slew of allegations of his involvement in multiple crimes.READ MORE |
| Biden to Lighten Workload, Get More Sleep as Concerns about Fitness for Office GrowDemocrat President Joe Biden will be cutting back on his workload after his disastrous debate performance triggered widespread calls for his removal.READ MORE |
| Democrat Congressman Slams Biden Campaign for Debate Response: ‘Arrogant’Democrat Rep. Scott Peters (D-CA) has slammed the “arrogant” response from President Joe Biden’s campaign in the wake of last week’s disastrous debate.READ MORE |
| ‘Longtime Friends’ Reveal Biden Couldn’t Remember Their NamesA new report has raised further concerns about Democrat President Joe Biden’s mental decline by exposing his private struggles.READ MORE |
| Left-Wing Outlet Exposes Democrats’ ‘Conspiracy of Silence’ to Hide Biden’s ‘Mental Decline’ from PublicNew York magazine has exposed details of a so-called “conspiracy of silence” among Democrats and their corporate media allies to hide President Joe Biden’s “mental decline” from the American people.READ MORE |
| Russell Brand Blasts Corporate Media for Normalizing Heart Failure in Young PeopleBritsh comedian Russell Brand has accused the corporate media of pushing to normalize the global crisis of young, healthy people dying suddenly from heart failure.READ MORE |
NEWS ADDICTS
| Top Doctors Raise Alarm over ‘Deadly Plague’ Killing VaxxedLeading doctors are warning the public about a “deadly plague” that is killing off people who have received Covid mRNA shots.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
SATURDAY
Beryl Churns In Gulf Of Mexico With Crosshairs On Texas
SATURDAY, JUL 06, 2024 – 11:05 AM
After battering Mexico’s Yucatan Peninsula and leaving a trail of destruction through the Caribbean that may exceed $5 billion in damages, Beryl, currently a tropical storm, has moved back into warm waters and is expected to restrengthen into hurricane status with landfall impacts expected across northern Mexico or southern Texas on early Monday.
AccuWeather Senior Meteorologist Tyler Roys told Bloomberg that Beryl will make landfall around northern Mexico or southern Texas as a Category 1 hurricane between 0400 and 0600 local time Monday.
Computer models show Beryl’s forecasted track has been shifting slightly north in recent days, which may allow the storm to stay in warmer Gulf waters longer.
“It would not shock me if there is further intensification,” Roys said, adding, “Right now we are with Category 1, but if the trend continues and the track sneaks a little further north, there could potentially be more funny business going on with intensification. It is something we are watching.”
Roys said Beryl will likely bring heavy rains across eastern Texas, an area swamped with rain this year. This will elevate flood risks across the region early next week.
Another major danger is the storm’s threat to oil and gas leases in the US Federal waters of the Gulf of Mexico and energy infrastructure on shore and inland.
Beryl’s threat to oil/gas infrastructure (list courtesy of Bloomberg):
- Tropical Storm Beryl’s threat to oil and gas leases in the US Federal waters of the Gulf of Mexico increases as its path shifts north after reaching Yucatan, according to National Hurricane Center data and Bureau of Ocean Energy Management data
- Storm could be in path of leases with ~14 million cu. feet/d of natural gas production and ~1,583 b/d of oil and condensate output versus ~6.8 million cu. feet/d of offshore gas output on Thursday.
- Storm’s potential path doesn’t pass over any major offshore oil or gas platforms, but is near some
- Projection is based on Feb. BOEM production data broken down by lease and platforms within projected cone of storm
- Projections are for location of Beryl through weekend and into next week
Beryl threatens some major offshore oil/gas platforms:
Texas Lt. Gov. Dan Patrick, the acting governor while Gov. Greg Abbott traveled overseas, issued a pre-emptive disaster declaration for 40 counties.
“Everyone along the (Texas) coast should be paying attention this storm,” Patrick said, adding, “We hope and we pray for nothing more than a rain event.”Last week, Beryl was the earliest storm on record to strengthen into a Category 5 hurricane in the Atlantic.
END
MONDAY
Cat. 1 Hurricane Beryl Makes Landfall In Texas
MONDAY, JUL 08, 2024 – 07:45 AM
Hurricane Beryl, the first Atlantic hurricane of the year to strike the US, made landfall in eastern Texas as a Category 1 storm in the early morning hours on Monday.
After causing billions of dollars of damage across the Caribbean and Mexico’s Yucatán Peninsula last week, Beryl has finally arrived near Matagorda Beach as a Cat. 1 storm with winds over 80 mph.
As the storm moves inland, torrential rains, surges, tornadoes, and high winds are expected across eastern Texas today. Some areas could receive 5-10 inches of rain, with isolated totals upwards of 15 inches.
“Life-threatening storm surge and heavy rainfall is ongoing across portions of Texas. Sustained tropical storm-force winds and hurricane-force wind gust have already been reported along the coast, these winds will continue to spread inland,” warned the National Hurricane Center.
A state of emergency has been declared across 121 counties. Nearly 300,000 Texas were without power as of 0600 ET, according to power tracking website poweroutage.us.
As the storm approached the Texas coast, we recently previewed (read: here & here) how major oil/gas infrastructure, either offshore or onshore, was possibly in the cone of uncertainty path.
On Sunday, Exxon Mobil said it was adjusting some operations, while Freeport LNG reduced liquefaction operations with plans to resume once the storm passes, according to Bloomberg.
In markets, WTI briefly tagged two-month highs of $84.50bbl, last seen since mid-April, but has since slid to the low $82bbl level.
“A much-anticipated move of Brent past $90 is going to be contingent on weather risk and a confirmation of a strong seasonal uplift in gasoline demand,” said Harry Tchilinguirian, group head of research at Onyx Capital Group.
Tchilinguirian noted, “If either does not materialize, the market is more likely to consolidate rather than race higher.”
Beryl was a close call for the Biden administration, which faces an active hurricane season threatening oil and gas refineries along the Gulf Coast. Any major storm that disrupts refineries or offshore drilling platforms could push the average price of gasoline to the politically sensitive $4 per gallon mark ahead of the presidential elections in the fall.
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
BOLIVIA
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: 1.0829 UP .0001
USA/ YEN 160.92 UP 0.349 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2826 UP .0032
USA/CAN DOLLAR: 1.3641 UP .0023 (CDN DOLLAR UP 23 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 27.48 PTS OR 0.93%
Hang Seng CLOSED DOWN 275.55 PTS OR 1.55%
AUSTRALIA CLOSED DOWN 0.72%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 275.55 PTS OR 1.55 %
/SHANGHAI CLOSED DOWN 27.48 PTS OR 0.93%
AUSTRALIA BOURSE CLOSED DOWN .72%
(Nikkei (Japan) CLOSED DOWN 131.67 PTS OR 0.32%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2373.90
silver:$31.02
USA dollar index early MONDAY morning: 104.63 UP 8 BASIS POINTS FROM FRIDAY’s CLOSE.
MONDAY MORNING NUMBERS ENDS
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And now your closing MONDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.127% DOWN 5 in basis point(s) yield
JAPANESE BOND YIELD: +1.088% UP 1 AND 1/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.290 DOWN 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.886 DOWN 6 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.509 DOWN 5 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 1.0833 UP 0.0003 OR 3 basis points
USA/Japan: 160.78 UP 0.192 OR YEN IS DOWN 19 BASIS PTS
Great Britain 10 YR RATE 4.149 DOWN 3 BASIS POINTS //
Canadian dollar DOWN .0009 OR 9 BASIS pts to 1.3628
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2687 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2853)
TURKISH LIRA: 32.69 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +1.088…
Your closing 10 yr US bond yield UP 1 in basis points from FRIDAY at 4.278% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.690 UP 0 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.626 UP 2 BASIS PTS.
GOLD AT 11;30 AM 2358.25
SILVER AT 11;30: 30.69
Your 12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: FRIDAY CLOSING TIME 12:00 PM//
London: CLOSED DOWN 10.44 PTS OR 0.13%
German Dax : CLOSED DOWN 3.40 PTS OR 0.02%
Paris CAC CLOSED UP 48.17 PTS OR 0.63 %
Spain IBEX CLOSED DOWN 1.40 OR 0.01%
Italian MIB: CLOSED UP 58.87 PTS OR 0.17% PTS
WTI Oil price 82.30 12EST/
Brent Oil: 85.86 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 87.62 ROUBLE UP 0 AND 64/100
GERMAN 10 YR BOND YIELD; +2.550 DOWN 5 BASIS PTS.
UK 10 YR YIELD: 4.147 DOWN 3 BASIS POINTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0823 DOWN 0.0007 OR 7 BASIS POINTS
British Pound: 1.2809 UP 0.0015 OR 15 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.149 DOWN 3 BASIS PTS//
JAPAN 10 YR YIELD: 1.088%
USA dollar vs Japanese Yen: 160.79 UP 219 YEN DOWN 22 BASIS PTS//
USA dollar vs Canadian dollar: 1.3643 UP 0024 //CDN dollar DOWN, 24 BASIS PTS
West Texas intermediate oil: 82.16
Brent OIL: 85.57
USA 10 yr bond yield DOWN 0 BASIS pts to 4.271
USA 30 yr bond yield DOWN 1 BASIS PTS to 4.460%
USA 2 YR BOND: UP 3 PTS AT 4.649
USA dollar index: 104.52 DOWN 56 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32.70 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 87.62 UP 0 AND 67/100 roubles
GOLD 2,357.20 3:30 PM
SILVER: 30.70
3;30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 31.08 PTS OR 0.079%
NASDAQ UP 44/15 PTS OR 0.22 %
VOLATILITY INDEX: 12.39 DOWN 0.09 PTS OR 0.72%
GLD: $218.19 DOWN 2.74 OR 1.24%
SLV/ $28.13 DOWN 0.35 OR 1.23%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Stocks & Bonds Sluggish In Post-Holiday Hangover; Black Gold, Bitcoin, & Bullion Battered
BY TYLER DURDEN
MONDAY, JUL 08, 2024 – 04:00 PM
After a long-ish July 4th weekend, some liquidity returned today but activity levels were relatively flat compared to the last two weeks.
Goldman’s trading desk noted they were tilted slightly better to buy:
- LOs are +6% better to buy with demand for Energy, Cons Disc and Mats outweighing supply in Tech, Staples & Comm Svcs
- HFs are +4% better to buy with demand in HCare 2x larger than Industrials, driven by covering. Every other sector’s net $ skew is +/-$30mm with demand in Cons Disc, Energy, Utes, REITs & supply in Comms Svcs, Fins, Tech & Staples
The cash open saw some chaos with The Dow and Small Caps immediately panic bid but heading into the European close, those excited gains sold off and everything but Small Caps fell back into the red…
The best example of the chaos was in “most shorted” stocks which squeezed bigly at the open, then oscillated back and forth before fading back as Europe closed…
Source: Bloomberg
The ‘Energy vs AI’ trade swung back in AI’s favor today as Tech outperformed and Energy stocks lagged…
Source: Bloomberg
The massive (record) long gamma is tamping down all volatility…
Source: Goldman Sachs
…as Goldman noted today’s very tight range-bound session, with the SPX intraday band just 26bps, but under the surface there are clear signs of Low Momentum strength driven by cover demand coupled with continued inflows into Mag7…
Source: Bloomberg
Treasuries were mixed but also traded in a very narrow range with the long-end outperforming modestly (2Y +2bps, 30Y -2bps)…
Source: Bloomberg
The dollar was well and truly in the doldrums today, barely managing to show signs of life…
Source: Bloomberg
Crude prices tumbled back towards $82 (WTI) from $84.50 highs late Friday…
Source: Bloomberg
Crypto was chaotic too; dumping overnight back near $54,000, then panic bid all the way above $58,000 into the European session and then dumping back to $55k during the US session…
Source: Bloomberg
Friday’s post-payrolls pump in gold was dumped today, back into July 4th’s range…
Source: Bloomberg
Finally, with the record long gamma comes the (almost) record low realized volatility…
Source: Bloomberg
Somewhere, Minsky is turning in his grace at the lack of concern and quiet complacency… that’s slowly building the ammo for a ‘Moment’.
AFTERNOON TRADING///
II USA DATA
Credit Card Debt Unexpectedly Surges As Card APR Hits New All-Time HIgh
MONDAY, JUL 08, 2024 – 03:27 PM
One month after we recorded the first decline in revolving credit (i.e., credit card debt), since the covid crisis, the expectation was for continued consumer retrenching and more credit card paydowns at a time of record high APRs. However, it is far easier to drag the horse to the water and to get him to drink, than to keep spending-addicted US consumers away from their credit cards all time high APRs be demand, and according to today’s latest release of Consumer Credit data from the Fed in May revolving credit surged by a whopping $7 billion, a sharp reversal to the April drop of $0.9 bilion and the biggest increase since February.
At the same time, non-revolving credit – student and auto loans – posted a modest $4.3 billion increase, down from the $7.3 billion in April but a big jump from the $3 billion drop in April.
Combining the two, in May total consumer credit rose by $11.3 billion the biggest jump since February which however was an outlier monthly driven entirely by a burst of credit card spending. And while May was clearly an unexpectedly strong month, the trend is clear: we peak in early 2022 and it has all been downhill since then.
Finally, a vivid reminder that once credit card rates go up they almost never go down, in Q2 the average interest rate on credit card accounts rose again, up to 22.76% from 22.63% in Q1 and 1 basis point below the all time high.
While so far consumers have pretended they can afford to pay this interest upon interest, there will come a day when the brick wall will finally be reached and the US consumer’s Wile E Coyote moment will finally come meet its gravitational implosion.
END
MISERY INDEX.
Dr lacalle…
Americans Are Poorer – The US Misery Index Rises Again
MONDAY, JUL 08, 2024 – 03:40 PM
I frequently receive comments about the strength of the United States economy and the unfairness of perceiving things as less than stellar. Is it really the “strongest economy ever”?
It’s evident that it’s far from being the “strongest economy ever.”
The United States unemployment rate has risen to 4.1%, the highest in three years, which is also significantly higher than the level seen in 2019. In June, a 70,000 increase in government jobs boosted payroll employment by 206,000. One-third of job creation is public sector jobs paid with more debt. Both the employment-to-population ratio and the labour force participation ratio are below the pre-pandemic level and immigrants account for all the labour force growth since the pandemic, according to the Bureau of Labor Statistics and Ned Davis Research.
Inflation remains persistent and citizens have lost more than 24% of their purchasing power since 2019, with a 0.6% negative real wage growth in the January 2021–June 2024 period.
Real wage growth in 2024 is rising only 0.8% year-on-year.
This shows why the United States Misery Index is rising to 7.4% in June from 6.8% in January. The Misery Index, which measures unemployment and inflation, bottomed out in 2023 and has been worsening since then. Furthermore, the index is far away from the pre-pandemic level of 5.4%.
All these measures allow us to understand why Americans are negative about the economy. Despite messages of redistribution, social policies, and equality, the average citizen is poorer, and only the wealthy have been able to improve their position and navigate high rates and inflation thanks to investments in the stock market. While this shouldn’t come as a surprise, it’s important to remember. There is nothing social about increasing debt, deficit spending, and taxes.
The problem for most Americans is that it is increasingly difficult to make ends meet despite record government spending, or because of its negative impact on inflation and taxes.
There is a reason why we should be worried about rising discontent and impoverishment. The placebo effect of government spending on GDP is declining. Real gross domestic income (GDI) increased 1.3 percent in the first quarter, a downward revision of 0.2 percentage points from the previous estimate and a market slowdown. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 1.4 percent in the first quarter, according to the Bureau of Economic Analysis.
If we look forward, Americans are going to have to choose between two options:
- further impoverishment with Keynesian policies;
- or making a dramatic pro-growth turn where policy is targeted at improving disposable income, increasing investment, and strengthening productivity and real economic growth.
We know that it will be impossible to cut the current deficit with tax hikes. There is no revenue measure that will generate two trillion US dollars per year, and it is impossible to increase taxes further without punishing investment. The problem in the United States is mandatory spending, as the CBO expects outlays to reach 24.9% of GDP in 2036, while revenues will reach a record but insufficient 18%. If the Federal Reserve continues to monetize debt, Americans will suffer from the inflation impact as well as the rising cost of housing. The US dollar’s purchasing power will continue to decline. However, it is easier to create two trillion US dollars of productive GDI than to tax two additional trillion dollars per year out of the existing fiscal base.
Yes, the only solution for the United States is pro-growth, pro-business policies that defend the purchasing power of the US dollar. So-called social policies have only made everyone poorer and hurt the middle class.
III USA ECONOMIC COMMENTARIES
Douglas Macgregor on X: “BREAKING: Unconfirmed reports now indicate Joe Bidən may have had a medical emergency on Air Force One.. This story is developing..” / X
BREAKING: Unconfirmed reports now indicate Joe Bidən may have had a medical emergency on Air Force One.. This story is developing..
ROBERT h”
“WHAT NO PAMPERS!”
end
“The Sh*t Is Going To Hit The Fan On Monday”: DC In Turmoil As Biden Says Only ‘Act Of God’ Will Dislodge Him
SUNDAY, JUL 07, 2024 – 02:35 PM
After years of feigned outrage every time conservative media mentioned Biden’s obvious mental decline, the Democratic party is in complete disarray just four months before the election following last month’s disastrous debate against an uncharacteristically quiet Donald Trump.
On one hand, the Bidens now say it will take an ‘act of God‘ (so, the CIA) to remove him from the race.
On the other hand, seven major news organizations have staged a mockingbirdian PR coup against the man for whom they’ve spent five years running cover.
The list, per Just the News, includes:
- The New York Times
- The Atlanta Journal-Constitution
- The New Yorker
- The Chicago Tribune
- The Wall Street Journal
- The Boston Globe.
- The Economist
Of course, if they really want to twist the knife…
According to Axios, “outside Biden’s protective bubble, a fast-growing number of Democrats are praying for —and plotting — a more earthly intervention. They want everyone from the Obamas to congressional leaders to beg Biden to drop out by this Friday.“
Dear liberal media, we know you are suddenly desperate to get rid of ole Joe. So there is this thing called Ashley Biden’s diary, you may finally want to look into that
·
812.4K Views
Quote
Really hard to put that “Democracy is on the ballot” talking point out there when the guy saying it is also saying that only God can remove him from office.Quote
Jim VandeHei
@JimVandeHei·7h
Biden insists only God ends his race. -> But a fast-growing number of Democrats are praying for —and plotting — an earthly intervention. They want everyone from the OBAMAS to Hill leaders to beg Biden to drop out by this COMING FRIDAY.
https://axios.com/2024/07/07/biden-democrats-drop-election-campaign
Biden insists only God ends his race. -> But a fast-growing number of Democrats are praying for —and plotting — an earthly intervention. They want everyone from the OBAMAS to Hill leaders to beg Biden to drop out by this COMING FRIDAY. https://axios.com/2024/07/07/biden-democrats-drop-election-campaign
As Just the News further notes, five Democratic Reps. have publicly called for Biden to step aside.
- Minnesota Rep. Angie Craig: “This is not a decision I’ve come to lightly, but there is simply too much at stake to risk a second Donald Trump presidency. That’s why I respectfully call on President Biden to step aside as the Democratic nominee for a second term as President and allow for a new generation of leaders to step forward.”
- Texas Rep. Lloyd Doggett: “I am hopeful that he will make the painful and difficult decision to withdraw. I respectfully call on him to do so.”
- Arizona Rep. Raúl Grijalva: “What he needs to do is shoulder the responsibility for keeping that seat — and part of that responsibility is to get out of this race.” Per an aide in the congressman’s office who spoke on the condition of anonymity who wasn’t authorized to speak publicly.
- Massachusetts Rep. Seth Moulton: “President Biden has done enormous service to our country, but now is the time for him to follow in one of our founding father, George Washington’s footsteps and step aside to let new leaders rise up and run against Donald Trump.”
- Illinois Rep. Mike Quigley: “Mr. President, your legacy is set. We owe you the greatest debt of gratitude. The only thing that you can do now to cement that for all time and prevent utter catastrophe is to step down and let someone else do this.”
“The sh*t is going to hit the fan on Monday, when Congress returns,” one House Democrat told Axios. “People are scared about their own races. But they’re also worried about the country, and about democracy.”
That said, Biden still has strong support from several prominent Democrats, including:
- Vice President Kamala Harris
- Gov. Gavin Newsom
- Gov. Kathy Hochul
- Gov. Gretchen Whitmer
- Gov. Tim Walz
- Gov. Wes Moore
- Sen. John Fetterman
- Sen. Chris Coons
- Former Speaker Nancy Pelosi
- Rep. Sheila Jackson Lee
- Rep. Haley Stevens
- Rep. Jasmine Crockett
- Rep. John Garamendi
Meanwhile…
end
California//the new norm:
Newsom’s California: Delivery Drivers Now Being Accompanied By Armed Guards Due To “Crime Concerns”
MONDAY, JUL 08, 2024 – 09:15 AM
Things have gotten so utopian in the state of California, delivery drivers are being accompanied by armed guards due to “crime concerns” while out making deliveries.
One company, Core Mart, has started hiring the guards to escort its drivers. Which means that somewhere, in a board room, it likely made more financial sense to pay for all new security staff than it did to continue to allow drivers to get robbed (and inventory lost) as was happening prior.
California: sounds like a wonderful place to do business.
San Jose police reported a slight uptick in delivery truck robberies two years ago, but no recent surge has been observed, NBC Bay Area reported.
Flavio Lopez, an employee of a different delivery company, expressed his desire for a guard or at least a second person to help monitor goods, telling NBC:
“Stuff you gotta deal with downtown. It is what it is.”
Retired San Jose police officer Darrell Cortez, now working in corporate and retail security, said:
“Unfortunately, this is what society has become now with armed guards guarding merchandise from the retailer because there seems to be a sense of lawlessness in our society.”
Cortez concluded:
“It’s very unfortunate. You and I pay for it. The consumer pays for it on the backend because prices increase because the merchandise is going out the door and no one is stopping the bad guys because of the threat of violence.”
He noted that if one company was using the guards, others in the industry likely weren’t far behind from adopting the strategy.
end
Boeing just cannot get anything right. This once proud operation is falling apart at the seams , no pun intended
Boeing Shares Drop After FAA Orders Inspection Of 2,600 737 Jets For Oxygen Mask Issue
MONDAY, JUL 08, 2024 – 01:20 PM
Shares of Boeing in New York hit turbulence a little after lunchtime as yet another problem emerged for the 737 Max program.
Reuters reports the Federal Aviation Administration is mandating inspections for 2,600 737 MAX and NG jets because passenger oxygen masks could fail during in-flight emergencies.
Here’s more from the report:
The FAA said it was requiring the inspections of 737 MAX and NG airplanes after multiple reports of passenger service unit oxygen generators shifting out of position, an issue that could result in an inability to provide supplemental oxygen to passengers during a depressurization event.
…
The FAA said its airworthiness directive was immediately effective and requires inspections and corrective actions if needed within 120 to 150 days based on the 737 model. The FAA is also barring airlines from installing potentially defective parts.
Airlines must conduct a general visual inspection and if needed replace oxygen generators with new or serviceable oxygen generators, strap thermal pads and reposition impacted oxygen generators, the agency said.
As much as 3.6% of today’s gains evaporated after Reuters published the report.
Boeing is stuck in an endless doom-doop cycle of crises and investigations. On Sunday, The New York Times reported that Boeing agreed to plead guilty to a felony charge of conspiring to defraud the federal government over two deadly 737 Max crashes.
In recent weeks, outgoing Boeing CEO Dave Calhoun testified before the Senate Homeland Security and Governmental Affairs Subcommittee on Investigations regarding ongoing investigations into Boeing’s quality oversight and production failures of commercial jets.
Calhoun said the company is ‘changing course’ on outsourcing parts of the supply chain. The company has been in talks with key supplier Spirit AeroSystems for a buyout of about $4.7 billion.
The executives at Boeing have destroyed one of the world’s greatest aviation brands as competitor Airbus flies ahead.
end
MIGRANTS
Four Venezuelan Migrants Choked, Robbed Man On Chicago Train In February, Newly Released Video Shows
MONDAY, JUL 08, 2024 – 02:40 PM
A group of Venezuelan migrants allegedly attacked and robbed a 49-year-old man on a train in Chicago this past February, newly released video from Fox News appears to show.
Video from a Chicago Transit Authority (CTA) train shows two suspects chatting and befriending the victim, who is seen passing around a cellphone with them. One suspect appears to be smoking and hands it to another person inside the subway car.
Then, in a violent knifepoint attack, a migrant put the man in a chokehold, leaving him unconscious, though he later recovered. The suspects were arrested and appeared in court, with three ordered to remain in custody and one released on electronic monitoring.
A video shows the four migrants and the victim inside a CTA train cab before one, wearing a red baseball cap backward, lunges at the victim, grabs him from behind, and puts him in a chokehold.
The migrant pulls the man to the ground while another, dressed in blue, blocks the camera. About 20 seconds later, the migrant in the red cap is seen rummaging through the victim’s pockets before walking into the Pink Line train car and putting on his jacket. The train stops, and the suspects flee.
Fox reported that Chicago police identified the suspects as Fernando Loyo-Rodriguez, Wilker Gutierrez Sierra, Carlos Carreno-Carreno, and Yonnier Guasamucare Garcia, aged 18 to 22. They allegedly put a knife to the victim’s throat and stole $400 and a cellphone while the train was passing through the 2000 block of South Kostner Avenue on February 17 around 4:45 p.m.
They were arrested 45 minutes later, each giving a state-funded migrant shelter as an address, the report said.
The four men have been charged with robbery, aggravated battery/strangulation, and attempted murder. In Cook County court today, Carreno-Carreno, Loyo-Rodriguez, and Guasamucare Garcia were ordered to remain in custody, while Gutierrez Sierra was released on electronic monitoring.
Each was represented by a separate public defender, and they only spoke to the judge through an interpreter.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
end
END
FREIGHT ISSUES/USA
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
NEWT GINGRICH
END
SWAMP NEWS
This should be interesting!
Comer Seeks Docs, Interview With White House Physician Who Obviously Lied
SUNDAY, JUL 07, 2024 – 03:45 PM
White House physician Dr. Kevin O’Connor – who for years has been giving President Biden a clean bill of health despite obvious signs of cognitive and physical decline – has some ‘splainin’ to do.
On Sunday, House Oversight Committee Chairman James Comer demanded to interview O’Connor, and has suggested that the doctor’s involvement in a Biden family business dealing “may have” influenced his medical assessments of the president – who was found to be too cognitively impaired to prosecute for mishandling classified documents.
Specifically, O’Connor counseled James Biden in connection with alleged work he was performing for Americore Health, LLC – which paid James Biden $200,000 the same day James turned around and wrote Joe a check for $200,000 for an undocumented “loan repayment.”
“Recently, it was reported that you have ‘never recommended that [President] Biden take a cognitive test,” Comer wrote O’Connor. “In February of this year, the Committee conducted a transcribed interview with James Biden. During the interview, James Biden confirmed that you provided him counsel in connection with the alleged work he was performing for Americore.“
Comer has requested all documents and communications related to Americore, and wants him to sit for a transcribed interview.
“To understand the extent of your involvement in the Biden family’s financial activity, we request that you produce all documents and communications in your possession regarding Americore and James Biden. Additionally, the Committee requests you make yourself available for a transcribed interview with Committee counsel. Please contact staff by July 14, 2024, to schedule the interview,” reads the letter reported by Just the News.
Perhaps Comer will ask him about that Parkinson’s specialist who visited the White House at least 9 times in the past year.
KING REPORT
| The King Report July 8, 2024 Issue 7278 | Independent View of the News |
| President Biden’s physician met with Parkinson’s disease specialist in White House – NY Post Dr. Kevin Cannard, a Parkinson’s disease expert at Walter Reed Medical Center, met with Dr. Kevin O’Connor, and two others at the White House residence clinic on Jan. 17, according to the records… Dr. John E. Atwood, a cardiologist are Walter Reed, was also in the 5 P.M. meeting, the White House visitor logs show… https://nypost.com/2024/07/06/us-news/president-bidens-physician-met-with-parkinsons-disease-specialist-in-white-house/ A Parkinson’s disease specialist has visited the White House residence medical clinic at least nine times since July 20233 (logs not real time) https://alexberenson.substack.com/p/very-urgent-a-parkinsons-disease (There are no visitor logs for Joe’s Delaware home. Is this why he goes there almost every weekend?) Parkinson’s has four main symptoms:Tremor in hands, arms, legs, jaw, or headMuscle stiffness, where muscle remains contracted for a long timeSlowness of movementImpaired balance and coordination, sometimes leading to fallshttps://www.nia.nih.gov/health/parkinsons-disease/parkinsons-disease-causes-symptoms-and-treatments @TonySeruga: What’s up with Joe Biden’s Kung Fu grip on a pen during the George Stephanopoulos interview? Same thing in many WH photo ops. https://x.com/TonySeruga/status/1809600670011650102 “He’s toast”: Biden’s ABC interview flops with Hill Democrats – Axios The president rejected polls indicating he’s trailing his Republican rival and minimized the extent to which his Democratic allies have pressured him to withdraw from the race… Biden made clear he’s not dropping out… https://www.axios.com/2024/07/06/biden-abc-interview-house-democrats-reaction Variety: Biden’s ABC Interview Was a Necessary Appointment with the Public – and a Botched One Biden’s mien made clear that even the moderators fact-checking in real time (as CNN’s Jake Tapper and Dana Bash did not do) would not have saved him… Biden allowed his face to go into an expression familiar from the debate he was trying to erase from public memory. His eyes, on camera, looked into a distance unfamiliar; his mouth hung slackly open… Asked if he watched the debate back, Biden said “I don’t think I did, no.”… Biden seemed to live in a bubble… Biden took eight days of preparation to give ABC News 22 minutes of screen time… https://variety.com/2024/tv/columns/joe-biden-abc-news-interview-george-stephanopoulos-debate-1236061613/ NY Post Editorial Board: ABC interview proves that Joe Biden is in complete senile denial George Stephanopoulos, former Bill Clinton adviser and the ultimate Democratic insider, held an intervention masquerading as an interview Friday night… Nothing about Biden’s demeanor or his answers was reassuring. He refused to have a cognitive test or even an independent medical exam. He said the proof of his lack of dementia was that he “created” jobs, a lie which he can never let go. There was a bit about single-handedly rescuing the computer chip industry and NATO, then trailing off into, “well . . .” “Look.” “C’mon.” “George.”… The piece de resistance was when Biden was asked about his dismal poll numbers. He just pretended like they didn’t exist. “I don’t believe that’s my approval rating. That’s not what our polls show,” Biden said…. https://nypost.com/2024/07/05/opinion/abc-interview-proves-that-joe-biden-is-in-complete-senile-denial/ Knowing the importance of his interview on July 5 with ABC, The Big Guy still looked and sounded feeble. Clip of Joe with Stephanopoulos: https://x.com/amconmag/status/1809360299109282293 @alx: Joe Biden is asked if he watched last week’s debate afterwards. His answer “I don’t think I did.” How do you not have a definitive answer to this question? https://x.com/alx/status/1809359871336436166 @greg_price11: Biden: “If Trump wins in November, I’ll feel as long as I gave it my all and did the goodest job I know I could do.” “The goodest job” https://t.co/zQuGYUdI0F (WH had ABC alter transcript) Biden initially blamed his awful debate on being exhausted. When Stephie responded that he has 12 days, including 6 days at Camp David, to recuperate, The Big Guy shifted blame to feeling terrible, then Trump’s “28 lies,” and finally to ‘Trump’s shouting distracted me.’ ‘Exhausted,’ ‘bad episode’: Biden doubles down on debate explanations in ABC News exclusive https://abcnews.go.com/Politics/exhausted-bad-episode-biden-doubles-debate-explanations-abc/story?id=111695168 Biden, 81, blames poor debate performance on Trump distracting him, refuses to commit to neurological test and claims he invented the computer chip during garbled make-or-break interview https://t.co/qibP4RBetJ Biden admits he’s not had a “full neurological and cognitive evaluation” https://t.co/Bv8lHEghwx Biden: “I’m the guy who shut Putin down. Nobody thought we could do it… I’m the guy who put NATO together…. I’m running the world… In the Pacific basin I’m checkmating China now.” @ABC: President Biden tells @GStephanopoulos: “I don’t think anybody’s more qualified to be president or win this race than me.” https://t.co/hlL4FaVp80 @CortesSteve: ABC News reports that “Doctor” Jill is “lashing out” at those who want Joe Biden to get out of the race. Did anyone vote for Biden’s wife to run the country? https://t.co/EpocpZne70 President Joe Biden’s family’s ‘damaging’ response to Donald Trump debate fiasco as they seek to ‘settle old scores’ and seize control – A simmering rift between Joe Biden’s family and staff has finally boiled over after his disastrous debate performance last week… https://www.dailymail.co.uk/news/article-13606971/president-joe-biden-family-response-debate-infighting.html Transcript of Biden’s ABC interview: https://t.co/Zk8beBNzsJ @zerohedge: Dear liberal media, we know you are suddenly desperate to get rid of ole Joe. So, there is this thing called Ashley Biden’s diary, you may finally want to look into that. In a defiant, big moment, speech on Friday in Madison, WI (It’s a big-time liberal hub), The Big Guy had more brain cramps: “I’m staying in the race. I’ll beat Donald Trump. I will beat him again in 2020.” (And he’s reading from a Teleprompter!) https://x.com/JoeyMannarinoUS/status/1809313402277535784 Biden with utter gibberish: https://x.com/libsoftiktok/status/1809326661029986741 Wise guys had a blast with this R-rated gaffe: https://x.com/DrewHLive/status/1809331699911946289 @RNCResearch: BIDEN: “Where am I going? https://x.com/RNCResearch/status/1809315821459591475 GOP Rep. @laurenboebert: At a bare minimum, it would be nice for the sitting President to know what year it is. Does the White House doctor think this is normal behavior? @MonicaCrowley: Watch this carefully. Biden says he’ll beat Trump “again in 2020.” He stops, looks like he’s being told he got the year wrong, & restates it with “2024.” Is he being fed statements via an earpiece? Did he have one during the debate, which is why he was staring off as if listening to another voice & writing things down throughout? https://x.com/MonicaCrowley/status/1809329678051864960 WaPo: Sen. Mark R. Warner (D-Va.), right, is attempting to organize a group of Senate Democrats to go to the White House on Monday and ask President Biden to step aside… As chair of the Senate Intelligence Committee, Warner is viewed as a serious voice privately advocating for the president to step aside… https://www.msn.com/en-us/news/politics/ar-BB1puihw Key Progressive Caucus members set to call for Biden to withdraw from presidential race Monday – The Nation NYT: Major Democratic Donors Devise Plans to Pressure Biden to Step Aside https://www.nytimes.com/2024/07/04/us/politics/biden-donors.html Disney heiress, wealthy Democratic donors say they won’t finance the party until Joe Biden drops out https://t.co/h5KhoVQlsA @ExposingBiden: Omg something (light display on stage at WH 4th soiree) just scared the daylights out of President Joe Biden. What on earth happened? (Very disturbing!) https://x.com/ExposingBiden/status/1809026296959160395 Economist editorial mocking Biden with image of walker breaks internet: ‘Goes for the jugular’ One prominent X user remarked, ‘When the Economist turns on one of their own, it’s OVER’ (The cover has a walker with a Presidential Seal on it. The title: “No Way to Run a Country”) https://www.foxnews.com/media/economist-editorial-mocking-biden-image-walker-breaks-internet-jugular The New Yorker: This Is What the Twenty-fifth Amendment Was Designed For If Joe Biden doesn’t willingly resign, there’s another solution, which would allow Democrats to unite around a new incumbent. https://www.newyorker.com/news/daily-comment/this-is-what-the-twenty-fifth-amendment-was-designed-for Biden loses train of thought in Fourth of July speech to vets: ‘Probably shouldn’t even say that’ https://t.co/PZCXwDDPDM Veterans respond to Biden claiming he’s been ‘in and out of battles’: ‘Don’t make it about you’ President Biden claimed in a July 4 speech to military service members and their families, ‘I’ve been all over the world with you. I’ve been in and out of battles’ https://www.foxnews.com/politics/veterans-respond-biden-claiming-hes-been-in-out-battles-dont-make-about-you Incoherence Day: Biden’s Fourth Filled with Flubs Ahead of Primetime Interview Tonight https://www.zerohedge.com/political/incoherence-day-bidens-fourth-filled-flubs-ahead-primetime-interview-tonight WaPo: Biden’s aging is seen as accelerating, lapses described as more common Aides, foreign officials, members of Congress and donors say Biden has seemed slower and more often loses his train of thought in recent months, though close aides insist he remains mentally sharp… They said Biden’s physical signs of aging have become more apparent — the stiff gait; the need at times for assistance in moving from place to place; a raspy, softened speaking voice that can make (him) difficult to hear and understand. In addition to these traits, he has exhibited occasional lapses in which he has appeared to briefly freeze up or suddenly veer off topic, instances some said they easily dismissed before the debate but have now caused them to question his ability to do the job for another four years… https://www.washingtonpost.com/politics/2024/07/05/biden-aging-recent-months/?s=02 Why did ‘some’ need the debate to provoke concern about Biden? We all know why! Biden ‘is in denial about having to withdraw from 2024 race’ – as insiders share details of another gaffe that’s frightened donors – at a $100million East Hampton mansion, donors were left stunned when Biden described a French cemetery in Normandy as ‘Italian,‘ insiders said. He then only spoke for six minutes before leaving without taking any questions. When Biden then made an appearance at the New Jersey governor’s private villa, sources said he spoke so softly that a crowd of 50 people had to crane their necks to hear him speak from a teleprompter. https://www.dailymail.co.uk/news/article-13607917/Biden-denial-withdraw-gaffe-frightened-donors.html @bonchieredstate: Never forget that this happened *two years ago* and no one in the press asked a single question about it. The *Easter Bunny* ran in to stop Biden from rambling nonsensically about Afghanistan, and they weren’t even curious. https://t.co/MTLDKRiNGK Biden employs 152 more White House staffers than Trump in final year, annual budget $60.8M: watchdog https://t.co/iTbUuMwQpV @paulsperry_: Biden has unveiled his vision for 2024: “elder care.” Seriously. This is one of the few policy proposals he ticked off as a priority for a second term — unaware of the irony — during his interview with ABC’s George Stephanopoulos about his age and mental acuity. Babylon Bee: Biden Campaign Unveils New Slogan ‘Only Senile Some of The Time’ https://t.co/ZBgYF6qMk9 @jabeale: The radio host who interviewed Biden two days ago – Andrea Lawful-Sanders – just told @CNN that the White House sent her 8 questions in advance and she picked four of the 8 WH questions to ask Biden during the interview. Note that in response to one of the questions advanced by the WH Biden said that a 90-minute debate doesn’t define “3.5 years” of performance. Not “3 and a half years” as he and others have said when running through talking points. “3.5” – like it’s written on the answer card. Here are the questions the WH provided to Ms. Lawful-Sanders to ask Biden during the interview: https://x.com/jabeale/status/1809571390711861539 2nd local radio (Civic Media, WI) host says they were given questions ahead of Biden interview “Yes, I was given some questions for Biden,” Earl Ingram told ABC News. https://abcnews.go.com/US/2nd-radio-host-questions-ahead-biden-interview/story?id=111718228 Behind the Curtain: Biden’s credibility crisis – Axios Biden supporters are blaming the media for the feeding frenzy…. Hell has no fury like a press corps deceived. Reporters feel duped — and some probably embarrassed —and are scrambling to unearth new evidence of decline… https://www.axios.com/2024/07/06/biden-abc-interview-democrats-support @TomFitton: If Biden resigns, and Kamala assumes the presidency, Harris “shall nominate a Vice President who shall take office upon confirmation by a majority vote of both Houses of Congress.” This means that the Republican-controlled House can insist on a Republican vice president. 25ht Amendment: Whenever there is a vacancy in the office of the Vice President, the President shall nominate a Vice President who shall take office upon confirmation by a majority vote of both Houses of Congress… https://constitution.congress.gov/constitution/amendment-25/ Kamala Harris has reportedly made a record number of tie-breaking votes in the Senate. If Dems cannot procure a favorable VP candidate, can they afford to pull the plug on The Big Guy? BLS toadies continued their obvious scam (to aid & abet Biden) by reporting a better-than-expected NFP while sharply revising prior months lower. PS – Government employment increased 70k in June! June NFP 206k, 190k expected; May revised down to 218k from 272k and April revised down to 108k from 165k. The two-month net revision was -111k (Bidenomics!) Manufacturing -8k, +5k exp.; Construction +27k; Retail -8.5k; Temp help -48.9k; The seasonal adjustment for June 2023 is -815k; it was reduced for June 2024, to -754k! Ergo, 61k NFP are due to a change in the seasonal adjustment. https://www.bls.gov/news.release/empsit.t17.htm Wages 0.3% m/m & 3.9% y/y as expected; Workweek 34.3 as expected https://www.bls.gov/news.release/empsit.b.htm The reason that the BLS perpetrates an obvious scam: Wall Street Shills and the media hype the headline NFP while ignoring or downplaying the past months’ revisions. WSJ: U.S. Added 206,000 Jobs in June as Hiring Stays Strong Unemployment rate ticked up to 4.1%… Job growth over the past year has been driven by three sectors: healthcare, government, and leisure and hospitality… https://t.co/OLsxh9OPVS @YahooFinance: “It was just a good report,” Ameriprise Financial’s Justin Burgin says. “You’re adding over 200,000 jobs in a month. … It sure beats what we got last month.” https://t.co/WAdLINBb6m @peterfairley: If we count healthcare as govt via its funding by medicare, medicaid & obamacare, it would be 74% govt’ jobs 153/206 ” the biggest job gains were recorded in government (+70K), health care (+49K), social assistance (+34K) “ Unemployment Rate 4.1% (highest since 11/21), 4.0% exp. & prior; Employed +116k; Unemployed +162k; Labor Force Participation Rate 62.6% as expected, 62.5% prior; Civilian Labor Force +277k; Part time for economic reasons -199k; Part time for non-economic reasons -321k https://www.bls.gov/news.release/empsit.a.htm Birth/Death Model Jobs +59k; June 2023 +81k; https://www.bls.gov/web/empsit/cesbd.htm @zerohedge: Half of all job growth in the past year is from Birth/Death adjustments https://t.co/UahfONUYZw @RealEJAntoni: Full-time jobs are DOWN 1.6 million over the last year and part-time jobs are up 1.8 million – the economy is hemorrhaging full-time employment, and all the net job growth is gig work https://x.com/RealEJAntoni/status/1809211495953187160 @Lvieweconomics: Sharp fall last month in the number of people who work temporary help jobs in the service sector…one of many recession warning indicators that are flashing red https://t.co/TMExBkIQsU @mredmond88: I’d love to know the story behind the big jump up in 2-year Treasury yields right before the jobs report caused them to plummet. Did some big trader think they figured out how to predict the macro data roulette wheel? Or did some wily BLS employee “leak” fake numbers? https://t.co/ihk9dczuFI USUs initially tumbled to 117 2/32 on the headline June NFP. When the 2-month revision and Household Survey details appeared, USUs soared to a daily high of 118 27/32. The 1 25/32 move occurred within seconds. USUs retreated to 118 3/32 at 10:06 ET. Someone then manipulated USUs higher for the 11:30 ET European close. Bonds did NOT react as favorably as most would expect during early NYSE trading. We mentioned a week or so ago, when bonds failed to rally on soft economic data, that when recession appears, the budget deficit exploded higher on reduced receipts and increased entitlement spending. Statement from President Joe Biden on the June Jobs Report With today’s report that 206,000 jobs were created last month, a record 15.7 million jobs have been created during my Administration. We have more work to do, but wages are growing faster than prices and more Americans are joining the workforce, with the highest share of working-age Americans in the workforce in over 20 years… Too many Americans are still feeling squeezed by the cost of the living. I’m fighting to lower costs by taking on corporate price gouging… https://www.whitehouse.gov/briefing-room/statements-releases/2024/07/05/statement-from-president-joe-biden-on-the-june-jobs-report/ Fangs soared, led by Meta, which was +4.9% at 11:40 ET. While the usual suspects bought Mag 7/Fangs for momentum/day trading, some investors bought Fangs as ersatz bond substitutes (safe haven). The DJTA declined sharply on dumping of economically sensitive stocks. Precious metals soared. ESUs vacillated in a wide range from the release of the June Employment Report until they broke higher for the European close rally, a Noon Balloon, and the Friday afternoon rally. ESUs hit a daily high of 5626.00 at 15:55 ET. ESUs then fell to 5619.00 at 16:00 ET on late liquidation. Traders and investors conflicted over buying equities for a Fed cut and selling equities on recession angst. We alluded to this dilemma in Friday’s report. Positive aspects of previous session The Mag 7/Fang Bubble inflated further. The S&P 500 Index and Nasdaq hit all-time highs, again. Negative aspects of previous session The Mag 7/Fang Bubble inflated further. Precious and industrial metals rallied sharply for the 2nd straight session; silver broke out. Ambiguous aspects of previous session Crypto currencies got hammered. Why didn’t bonds rally more sharply? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5556.38 Previous session S&P 500 Index High/Low: 5570.33; 5531.63 @MarcusMStanley: The NY Times just casually dropped that the official U.S. intelligence assessment has always been that Putin didn’t want to expand the Ukraine conflict beyond Ukraine. But in public, Biden and other U.S officials have been pushing a domino theory that if we negotiated… https://t.co/ccX5tbLYkk Fauci says he has ‘no doubt’ Biden is capable of continuing as president (We have no doubts about Fauci’s judgement.) https://thehill.com/homenews/administration/4754808-fauci-no-doubt-biden-capable-as-president/ Fed Balance Sheet: -$9.643B; Reserves at the Fed: -$118.467B https://www.federalreserve.gov/releases/h41/20240705/ Macron colluded with the center-right, the center establishment, and various leftist groups to halt Le Pen in France’s 2nd Round Elections. Over 200 candidates allied with Macron’s scheme withdrew to make the election a referendum on Le Pen. The coalition of leftists, including communists, won the election. @France24_en: The New Popular Front leftist alliance is projected to have won a relative majority. The alliance is made up of 4 different parties… French Prime Minister Gabriel Attal says he will hand his resignation to President Emmanuel Macron on Monday morning. The latest estimated seat projections, according to @IpsosFrance @Talan_World: New Popular Front: 171-187; Together alliance: 152-163 (Macron); National Rally and allies (Le Pen0: 134-152 @visegrad24: The French Antifa leader Raphaël Arnault, classified as S (a threat to the French state by the security services) has been elected Member of Parliament… @business: Left-wing (French) leader Jean-Luc Melenchon vowed to implement his high-spending program, refusing negotiation or cooperation with Macron. (90% tax rate on $400k+ incomes) @BRICSinfo: France’s New Popular Front leader Jean-Luc Mélenchon says France must officially recognize Palestine as an independent and sovereign state. ‘No future for Jews’: Prominent French Jews decry far-left’s gains in vote Moshe Sebbag, a rabbi for the Synagogue de la Victoire, tells The Times of Israel that “it seems France has no future for Jews.” He advises young French Jews to leave for Israel… https://www.timesofisrael.com/liveblog_entry/no-future-for-jews-prominent-french-jews-decry-far-lefts-gains-in-vote/ @visegrad24: Clashes continue into the night in Paris as the far-left celebrates their election win by attacking the police. https://x.com/visegrad24/status/1810077720052715591 @PeterSweden7: The far-left is rioting in France after they won the election… It’s time to wake up to the fact that the far-left are a big threat to democracy and freedom. (CBS’s) @FaceTheNation: Congressman Clyburn’s staff informed Face the Nation this afternoon he needed to cancel Sunday’s interview… (Clyburn procured the Dem nomination for Biden in 2020, PS – Let’s not forget that Biden was the least popular SCOTUS in modern history before the debate!) NYT on Saturday night: As Biden Digs In, More Supporters Look to Push Him Out One senior White House official, however, who has worked with Mr. Biden during his presidency, vice presidency and 2020 campaign, said in an interview on Saturday morning that Mr. Biden should not seek re-election… The official, who insisted on anonymity in order to continue serving, said Mr. Biden had steadily showed more signs of his age in recent months, including speaking more slowly, haltingly and quietly, as well as appearing more fatigued in private… https://www.nytimes.com/2024/07/06/us/politics/biden-campaign-democrats.html @paulsperry_: Major U.S. banks are reporting a spike in credit card fraud linked to the mass border invasion under Biden’s open-border policy as criminal migrants from Venezuela and other countries have formed bank fraud rings across the country, victimizing American cardholders. Sources say former federal prosecutor and national intel director John Ratcliffe tops Trump’s list for attorney general and plans to criminally prosecute CIA contractors and employees who broke laws against interfering in elections when they ran an influence op in 2020. The Big Guy had a very bad Sunday. The WH plan to get Joe out more is blowing up. When Bill Clinton got in ‘trouble’, he ran to black churches for the sympathetic photo-op. Joe did this on Sunday; he then held a small rally in Philly. Neither went well. @RNCResearch: PASTOR: “Let us stand together!” BIDEN: *nervously glances at handlers* https://t.co/twC5FsmpxK @RNCResearch: BIDEN: “I wanna thank, uhh, thank you uh, for uh, you know, I said, bishop, it’s good to be home.” https://x.com/RNCResearch/status/1809978653414953336 A minister gave Biden what appears to be $100 dollar. Joe looks perplexed and queries the minister. (Probably for Joe to donate) https://x.com/KarluskaP/status/1810027091234099363 @RNCResearch: Biden once again falsely claims he’d go to a black church in Delaware during the civil rights movement to make “plans for what we’re gonna do to change the situation.” https://t.co/doBWcfOcjE @mazemoore: Biden not only lies about being a civil rights activist and about being raised in the Black church, he changes the church in the story depending on where he is speaking. https://x.com/mazemoore/status/1810015236709335288 @nicksortor: BIDEN: “Even when I was running for Senate, each time I ran, quite frankly, not a joke, Philadelphia, in particular, got me across the line.” Joe was a Senator from DELAWARE. Not Pennsylvania. https://t.co/CSwA7DC7iq (Perhaps Joe is confessing on how he won his 1st Senate seat) Jill Biden’s ex-husband paid hitman Frank ‘The Irishman’ Sheeran $3K to set up a strike and stop the delivery of Delaware newspapers with anti-Biden ads before Joe’s shock 1972 Senate win… Sheeran was later immortalized as a mob hitman in a Martin Scorsese movie but then was a union organizer in Biden’s home town of Wilmington, Delaware… https://www.dailymail.co.uk/news/article-9971555/Jill-Bidens-ex-husband-claims-paid-Frank-Irishman-Sheeran-3-000-help-Joe-win-1972.html @RNCResearch: Crooked Joe is a rambling, incoherent mess. Yikes! https://x.com/RNCResearch/status/1810037674998136842 @bccover: WATCH JILL in this clip. Watch how she sees he’s trailing off, watch how she signals to the people around her they should go towards him. It’s the parachute incident all over again. https://twitter.com/bccover/status/1810037484686029161?s=02 Once again, an aide gives Joe the mysterious, unlabeled bottle of some orange drink. https://x.com/RNCResearch/status/1810044957702459521 Axios: Unbendable Biden vs. breaking-point Dems We’re now in uncharted, historic waters: President Biden — backed by Jill Biden and his convicted son, Hunter, who’s serving as de facto gatekeeper to his dad — says that nothing, besides an act of God, will persuade him to quit his re-election campaign. But outside Biden’s protective bubble, a fast-growing number of Democrats are praying for —and plotting — a more earthly intervention. They want everyone from the Obamas to congressional leaders to beg Biden to drop out by this Friday… https://t.co/iKvKqyRASW Dems increasingly worry President Biden will spell doom for down-ballot races: ‘The s–t is going to hit the fan’ https://t.co/1mOkHn4xaE @edokeefe: Reps. Jerry Nadler (N.Y.), Mark Takano (Calif.), Adam Smith (Wash.) and Joe Morelle (N.Y.) said Sunday that Biden should leave the presidential race during a zoom meeting between House Democratic Leader Hakeem Jeffries (N.Y.) and ranking Democrats on committees… Reps. Jim Himes (Conn.), Beyer (Va.), and Raskin (Md.) also expressed skepticism of the president’s electoral chances, the two sources said. @GOPoversight: @RepJamesComer reveals President Biden’s physician was involved in the Bidens’ business dealings that resulted in $200K landing in Joe Biden’s bank account. Did his involvement impact his medical assessments of the President? House Oversight Com Chair @RepJamesComer: I’m calling on President Joe Biden’s physician, Dr. Kevin O’Connor, to appear for a @GOPoversight transcribed interview regarding his medical assessments of Joe Biden & involvement in the Biden family’s business schemes. Dr. O’Connor’s medical assessments have been potentially influenced by his business pursuits with the Biden family. … I’m also seeking all documents and communications in his possession regarding Americore and James Biden. https://x.com/RepJamesComer/status/1810014907284508672 Biden’s defiant delusion by David Axelrod (Obama’s political guru tells Joe to step aside.) Biden is likely headed for a landslide defeat to a lawless and unpopular former president… https://www.cnn.com/2024/07/06/opinions/biden-failed-to-quell-panic-abc-interview-axelrod/index.html @nicksortor: The host who interviewed Joe Biden on Philly radio station WURD and later admitted the questions were scripted has now been FIRED. In a SCATHING statement, WURD said: “The practice of de-legitimizing Black voices continues today. WURD Radio is not a mouthpiece for the Biden or any other Administration.” (or fired for snitching?) Biden has history of coordinating ‘scripted’ interviews, press conferences with media ahead of time On several occasions throughout his first term, Biden’s handlers have appeared to have pre-selected which journalists he can answer to at press conferences. Biden has also had other interviews guided by questions that were allegedly pre-selected by media executives… https://t.co/C31hUHDJtD Scoop: How Biden’s event staffers guide him behind the scenes – Axios For his events, President Biden’s staffers prepare a short document with large print and photos that include his precise path to a podium, according to an event template the White House sends to staffers… “It surprised me that a seasoned political pro like the president would need detailed verbal and visual instructions on how to enter and exit a room.”… https://www.axios.com/2024/07/07/biden-staff-events-prepare Biden will host a 3-day NATO Summitt that begins on Tuesday. Should be fun and enlightening! Democratic power players are circulating a proposal for Biden to exit, launch ‘blitz primary’ The hypothetical accelerated primary would focus on producing viral content like candidate forums moderated by Oprah or Taylor Swift to quickly engage voters. (NOT a parody!) https://www.cnbc.com/2024/07/07/democratic-donors-staff-memo-biden-drop-out-blitz-primary.html Today – Traders will play for the Monday Rally. It’s all momentum and Fed rate cut hype now. The political turmoil in the USA is being eschewed. The Mag 7 Bubble will continue until it bursts. It is already creating dangerous divergences. @zerohedge: Mag 7: +48% YTD; S&P 493: +7.5%; Russell: just went red for the year again This should be a turbulent week politically in the USA. The markets have largely ignored Biden’s travails. However, a President Kamala Harris could spark a spirited reaction. Our best guess is that due to Dem, media, and extortionary (leak incriminating evidence against Team Biden) pressure, The Big Guy will drop out of the race but continue as president. A President Harris now would provoke another political crisis for Dems as they try to get a VP confirmed by a majority GOP Congress. NQUs are -27.00; ESUs are -8.50; USUs are -10/32 (France halts usual Sun buying) at 20:05 ET. Expected econ data: May Consumer Credit $11.0B S&P Index 50-day MA: 5310; 100-day MA: 5215; 150-day MA: 5067; 200-day MA: 4887 DJIA 50-day MA: 38,964; 100-day MA: 38,884; 150-day MA: 38,413; 200-day MA: 37,289 (Green is positive slope; Red is negative slope) S&P 500 Index (5567.19 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 4796.32 triggers a sell signal Weekly: Trender and MACD are positive – a close below 5293.65 triggers a sell signal Daily: Trender and MACD are positive – a close below 5451.73 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5543.50 triggers a sell signal The funny clip we post of Jill Biden addressing school children had an expletive dubbed in. We thought people would realize it was a fake. After some pondering, we feel that we should have included a disclaimer because it’s difficult to ascertain what is fake and what is real these days. @ImMeme0: Can anyone tell me when Kamala Harris transitioned to a “black woman” because in 2016 she was running as an Indian? https://x.com/ImMeme0/status/1808560664081822015 @Riley_Gaines_: In the so-called “oppression Olympics,” being a black woman ranks higher than being an Indian woman. To Improve Public Perception, Kamala Harris Taking Likability Lessons from Hillary Clinton https://buff.ly/3AJacnl @RNCResearch: TONE DEAF: Kamala claims this will be “the most significant election of our lifetime” because one side might “weaponize the Department of Justice against his political enemies.” (Accuse others of what you are doing.) https://x.com/RNCResearch/status/1809714932952322432 Democrats whip against GOP’s latest election crackdown (on illegal immigrant voting!) House Democratic leadership is bringing out the big guns against a Republican bill set to be voted on next week that would require proof of U.S. citizenship to vote in federal elections, Axios has learned. https://www.axios.com/2024/07/06/house-democrats-oppose-gop-noncitizen-voting-bill (It’s insane and an infringement on Americans’ rights to advocate that illegals can vote in the USA!) @alx: It’s pretty funny that a debate in which Donald Trump accepted without conditions, despite being hosted by CNN with rules against his own interests, might prove to be the most impactful and consequential debate in U.S. Presidential history. @WallStreetSilv: Tucker Carlson explains how Richard Nixon was removed from office via a deep state coup by the FBI and CIA. https://x.com/WallStreetSilv/status/1809451785452441823 @elonmusk: When is there not one – just one – even *attempted* prosecution of that Epstein (Bill Gates & Reid Hoffman come to mind) client list. Either the FBI does their duty or the case for an entire departmental reset or abolishment is strong. Mother throws newborn daughter out of a window to her death because ‘she thought a child would ruin her career as an executive at Porsche’ https://t.co/uaQvY3Jcwm “If people let the government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny.” — Thomas Jefferson | |
GREG HUNTER INTERVIEWING STEYLE QUAYLE
Pandemics, Financial Collapse, War & Terrorism Designed to Overwhelm – Steve Quayle
By Greg Hunter On July 6, 2024 In Political Analysis29 Comments
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle describes the evil demons of the Bible we are up against. He lays it out in a mind-blowing new DVD called “Earth in the Crosshairs.” Quayle contends, “The interdimensional Gates of Hell have opened, and the world is under attack by Satan and his demons.” How else could everything in the world go terribly wrong all at once?
There is war and military conflict in multiple places, a new Bird Flu pandemic brewing, terrorists and illegals are flooding across the southern US border and a little talked about financial meltdown that Quayle says is going to catch the vast majority off guard when it implodes. Quayle points out, “This is Saul Alinsky’s “Rules for Radicals.” You simply overwhelm the target with accusations and so many problems that you could be ‘Ricochet Rabit’ and try to duck everything coming, but you can’t duck it all, especially when it is all dumped on you at once. Again, this is Saul Alinsky, and the idea is to overwhelm the target. Hillary Clinton wrote one of her college papers on Alinsky. Now, you see this with the Obama nation of desolation. That’s what I call him. You see the entire taking over of communities. Look at all these Democrat prosecutors and mayors, and look at the absolute fraud that has been initiated against everybody. Anti-abortion people are praying and going to prison. Look at Donald Trump and all these false charges. Their entire reason for doing this is to bring total destruction to America.”
On the economic front, Quayle says, “This is a heavy responsibility for people to understand, and bank bail-ins are coming. We have so many banks on the problem list or the ‘watch list.’ Even Fed Chairman Powell said, ‘our debt is unsustainable.’ For the first time, all IRS revenue cannot cover the interest on the debt, which is $1.5 trillion. That’s trillion with a ‘T.’ Banks are desperate, and what I am seeing is people who have had full access to their money . . . are being prohibited from wiring money out. A lot of people do not realize this, but banks now have the right, if they get into trouble, to bail themselves out with your funds.”
Quayle’s sources say that both Japan and Germany are facing huge financial trouble right now, and either of them could start a daisy chain of financial implosion around the world at any time.
Quayle also brought up news about the construction of FEMA type camps popping up around the country. Quayle says they are not holding centers, they are extermination centers. . . . The Marxist communist elite have flipped a switch, and this is all being orchestrated by Lucifer, who wants to be worshiped as god.”
In closing, Quayle says, “The Bible is the blueprint for what the future holds . . . the Book of Revelation . . . is Jesus telling people, hey, this is going to come, and the way you get through this and out of this is through me–which means having a personal relationship with Jesus.”
There is much more in the 62-minute in-depth interview.
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Join Greg Hunter of USAWatchdog.com who goes one-on-one with Steve Quayle as he talks about his new DVD called “Earth in the Crosshairs” for 7.6.24.
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After the Interview:
harveyorganblog.com 
