GOLD PRICE CLOSED UP $12.75 TO $2406.15
SILVER PRICE UP $0.03 TO $29.15
Gold ACCESS CLOSED $2408.00
Silver ACCESS CLOSED: $29.22
Bitcoin morning price:$66,803 DOWN 1003 DOLLARS. bankers doing a good job destroying the value of bitcoin
Bitcoin: afternoon price: $66,141 down 2368
dollars//
Platinum price closing DOWN $0.0 TO $949.40
Palladium price; UP $14.20 AT $925.80
END
SHANGHAI GOLD PREMIUM 13 DOLLARS/COMEX GOLD//august to august
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 23 Jul 2024 06:46:58 AM CT.
Market data is delayed by at least 10 minutes.
*CANADIAN GOLD: $3318.04 UP 18.10 CDN dollars per oz( * NEW ALL TIME HIGH 3,375.67 CDN DOLLARS PER OZ//JULY 16 2024)
*BRITISH GOLD: 1,865.58 UP 13.12 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2,218.98 UP 18,91 Euros per oz //* (ALL TIME CLOSING HIGH: 2.263.98 EUROS PER OZ//JULY 16//.2024)
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END
EXCH: COMEX
EXCHANGE: COMEX
CONTRACT: JULY 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,395.500000000 USD
INTENT DATE: 07/19/2024 DELIVERY DATE: 07/23/2024
FIRM ORG FIRM NAME ISSUED STOPPED
624 H BOFA SECURITIES 2
732 C RBC CAP MARKETS 2
TOTAL: 2 2
MONTH TO DATE: 3,651
JPMorgan stopped 0/6
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 6 NOTICES FOR 600 OZ or 0.0186 TONNES
total notices so far: 3657 contracts for 365,700 Oz (11.3748 tonnes)
FOR JULY:
SILVER NOTICES: 2 NOTICE(S) FILED FOR 0.010 million
OZ/
total number of notices filed so far this month : 6061 for 30.3748 million oz
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END
GLD/
BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL
THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.
WITH GOLD UP $12.75 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD
/ /INVENTORY RESTS AT 840.01 TONNES
INVENTORY RESTS AT 840.01 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $.03 AT THE SLV//WOW!!!!!
HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 15.886 MILION OZ OF SILVER INTO THE SLV/
// INVENTORY RISES AT 455.666 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 455.666 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUMONGOUS SIZED 1561 CONTRACTS TO 157,967 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY GAIN OF $0.02 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING ON SILVER. WE HAD LITTLE LIQUIDATION AS DESPITE A HUGE NET LOSS OF 811 CONTRACTS ON OUR TWO EXCHANGES WE HAD A THE MASSIVE LIQUIDATION OF T.A.S. CONTRACTS WHICH ACCOUNTS FOR THE LARGE OI LOSS. WE, AGAIN HAD SOME SHORT COVERING BY OUR SPECS DESPITE THE GAIN IN PRICE AS WELL AS THE MASSIVE T.A.S. LIQUIDATION MENTIONED ABOVE WHICH ACCOUNTS FOR THE HUGE LOSS OF OI ON THE TWO EXCHANGES. WE HAD ANOTHER HUGE SIZED 626 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 SEVERAL TIMES LAST MONTH AND AGAIN ON FRIDAY AND LAST NIGHT.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 624 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 $0.02) AND WERE BASICALY UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS DESPITE HAVING A HUGE SIZED LOSS OF 811 CONTRACTS ON OUR TWO EXCHANGES THE MAJORITY OF THE LOSS WAS DUE TO T.A.S. LIQUIDATION.
WE MUST HAVE HAD:
A MEGA HUGE SIZED 750 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 E.F.P JUMP TO LONDON OF 55,000 OZ
//NEW STANDING FOR SILVER//JUNE IS THUS 30.680 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI) HUGED SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1626 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED XXX 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 16 DAYS, total 16,785 contracts: OR 83.925 MILLION OZ (1049 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 83.925 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: 83.925 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/OVER 100 MILLION OZ/)
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1561 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,. THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE CONTRACTS: 750 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 55,000 OZ E.F.P JUMP TO LONDON WHERE THEY WILL TRY AND TAKE DELIVERY ON THEIR SIDE OF THE POND.
//NEW TOTAL STANDING FOR JULY 30.680 MILLION OZ
WE HAVE A HUGE SIZED LOSS OF 811 OI CONTRACTS ON THE TWO EXCHANGES WITH THE TINY GAIN IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 626 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING WHICH ACCOUNTS FOR THE MAJOR PORTION OF THE COMEX OI LOSS/// MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND MINOR IF ANY LIQUIDATION OF LONGS.
THE NEW TAS ISSUANCE MONDAY NIGHT (624) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 2 NOTICE(S) FILED TODAY FOR 0.010 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 TINY SIZED 394 OI CONTRACTS TO 585,067 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 4548 CONTRACTS
WE HAD A TINY SIZED INCREASE IN COMEX OI (394 CONTRACTS) OCCURRED DESPITE OUR LOSS OF $4.40 IN PRICE/MONDAY. 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 100 OZ QUEUE JUMP
NEW STANDING 11.6174 TONNES
/ ALL OF THIS HAPPENED DESPITE OUR $4.40 LOSS IN PRICE WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 3177 OI CONTRACTS (9.88 PAPER TONNES) ON OUR TWO EXCHANGES., WITH OUR LONGS TOTALLY OBLIVIOUS TO THE RAID ORCHESTRATED BY THE STUPID BANKS AGAIN ON FRIDAY AND MONDAY.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 2783 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 585,067
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3177 CONTRACTS WITH 394 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 2783 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3177 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1062 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2783 CONTRACTS) ACCOMPANYING THE TINY SIZED GAIN IN COMEX OI OF 394 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3177 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 100 OZ QUEUE JUMP
//NEW STANDING /JULY 11.6174 TONNES.
/ 3) CONSIDERABLE T.A.S. LIQUIDATION OF CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) GOOD SIZED COMEX OPEN INTEREST GAIN 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 1062 CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
JULY
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: 82,121 CONTRACTS OF 8,212,100 OZ OR 255.43 TONNES IN 16 TRADING DAY(S) AND THUS AVERAGING: 5289 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16 TRADING DAY(S) IN TONNES 255.43 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 255.43 DIVIDED BY 3550 x 100% TONNES = 7.18% 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: 255.43 TONNES (WILL BE A VERY STRONG ISSUANCE MONTH FOR EXCHANGE FOR PHYSICALS)
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 FELL BY A HUGE SIZED 1561 CONTRACTS OI TO 158,141 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 750 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 750 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 750 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1561 CONTRACTS AND ADD TO THE 750 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 811 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 4.055 MILLION OZ OCCURRED DESPITE OUR TINY $0.02 GAIN IN PRICE …THE MAJORITY OF THE OI LOSS WAS DUE TO SPREADER/T.A.S. LIQUIDATION.
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 48.85 PTS OR 1.65% //Hang Seng CLOSED DOWN 166.52 PTS OR 0.94% // Nikkei CLOSED DOWN 4.61 OR 0.01%//Australia’s all ordinaries CLOSED UP 0.52%///Chinese yuan (ONSHORE) closed UP TO 7,2744 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2807/ Oil DOWN TO 78.15dollars per barrel for WTI and BRENT UP AT 82.06/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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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 TINY SIZED 394 CONTRACTS TO 585,067 DESPITE OUR LOSS IN PRICE OF $4.40 WITH RESPECT TO MONDAY’S TRADING. THE LONGS COULDN’T CARE LESS WITH THE RAID ORCHESTRATED BY THE CROOKS. CENTRAL BANKS ARE PATIENT. THEY WERE WAITING FOR THE ATTACK OCCURRING EARLY MONDAY MORNING AS THEY ACCUMULATED THEIR LONG PURCHASES THROUGHOUT THE DAY ESPECIALLY WHEN THE PRICE HIT BELOW 2400. THEY CONTINUED THEIR PURCHASES AND THEN TENDERED FOR PHYSICAL GOLD AT THE END OF THE MONDAY SESSION.
WE HAD A HUGE T.A.S. LIQUIDATION ON MONDAY’S LOSS IN PRICE WITH ZERO LONGS BEING CLIPPED AND SOME 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A FAIR SIZED 2783 EFP CONTRACTS WERE ISSUED: : AUGUST 2783 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2783 CONTRACTS.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3177 CONTRACTS IN THAT 2783 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A TINY SIZED GAIN OF 394 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $4.40/MONDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, MONDAY NIGHT TO EXERCISE FOR PHYSICAL GOLD.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR MONDAY NIGHT A FAIR SIZED 1062 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 LAST WEEK’S TRADING//RAIDS. + MONDAY’S TRADING.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JULY (11.6174 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: 11.6174 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $4.40 //// BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPECULATOR LONGS AS WE HAD A FAIR SIZED GAIN OF 3177 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE. THE T.A.S. ISSUED ON MONDAY 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 9.881 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 100 OZ QUEUE JUMP//NEW STANDING 11.6174 TONNES
NEW STANDING FOR JULY: 11.6174 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $4.40
WE HAVE REMOVED 4548 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 3177 CONTRACTS OR 317700 OZ (9.881 TONNES)
confirmed volume MONDAY 267,228 contracts//fair
//speculators have left the gold arena
JULY 23 JULY GOLD CONTRACT
/ /// THE JULY 2024 GOLD CONTRACT
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | nil . |
| Deposit to the Dealer Inventory in oz | |
| Deposits to the Customer Inventory, in oz | 96, 453.000 oz Loomis 3000 kilobars |
| No of oz served (contracts) today | 6 notice(s) 600 OZ 0.0186 TONNES |
| No of oz to be served (notices) | 78 contracts 7800 OZ 0.2426 TONNES |
| Total monthly oz gold served (contracts) so far this month | 3657 notices 365,700 oz 11.3748 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 deposits:
i) into Loomis: 96,453.000 oz
total 96,453.000 oz (3000 kilobars)
customer withdrawals: 0
TOTAL WITHDRAWALS nil oz
Adjustment 2
a) Customer to dealer; JPMorgan: 7716.240 oz
b) Dealer to customer Brinks: 10,320.470 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JULY
For the front month of JULY we have an oi of 84 contracts having LOST 1 contracts. We had 2 notices filed on MONDAY so we GAINED 1 contracts or an additional 100 oz will stand at the comex (0.00311 tonnes)
AUGUST LOST 19,215 CONTRACTS DOWN TO 210,327 CONTRACTS
SEPT. GAINED 61 CONTRACTS TO STAND AT 1146.
OCTOBER GAINED 64 CONTRACTS UP TO 46,515 CONTRACTS
We had 6 contracts filed for today representing 600 oz
This is a major assault on the comex for gold and this time it is physical that will be requested.
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 6 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for July /2024. contract month, we take the total number of notices filed so far for the month (3657) x 100 oz ) to which we add the difference between the open interest for the front month of JULY 84( CONTRACTS) minus the number of notices served upon today (6 x 100 oz per contract( equals 373,500 OZ OR 11.6174 TONNES.
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (3657 x 100 oz +we add the difference for front month of JULY (84 X// , OI} minus the number of notices served upon today (6) x 100 oz which equals 373,500 oz (11.6174 TONNES)
TOTAL COMEX GOLD STANDING FOR JULY: 11.6174 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: 1,677,188.801 oz 52.167 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,918,886.525 OZ
TOTAL REGISTERED GOLD 7,779,286.157 ( 241.968 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 10,139,600.368 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,102,098 oz (REG GOLD- PLEDGED GOLD)= 189.80 tonnes //
END
SILVER/COMEX
JULY 23/2024
INITIAL
//2024// THE JULY 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 616,155.905oz Delaware . |
| Deposits to the Dealer Inventory | |
| Deposits to the Customer Inventory | nil |
| No of oz served today (contracts) | 2 CONTRACT(S) (.010 million OZ) |
| No of oz to be served (notices) | 75 contracts (0.225 million oz) |
| Total monthly oz silver served (contracts) | 6061 Contracts (30.305 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit/
total dealer deposit : nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 customer deposits:
i) into Delaware 616,155.965 oz
total customer deposit 616,155.965 oz
JPMorgan has a total silver weight: 132.563million oz/301.909million or 43.70%
adjustment:
customer withdrawals: 0
total withdrawal: nil 0z
TOTAL REGISTERED SILVER: 69.377 MILLION OZ//.TOTAL REG + ELIGIBLE. 301.909 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JULY:
silver open interest data:
FRONT MONTH OF JULY/2024 OI: 77 CONTRACTS HAVING LOST 56 CONTRACT(S). WE HAD 45 NOTICES FILED ON MONDAY SO WE LOST 11 CONTRACTS OR AN ADDITIONAL 55,000 OZ WILL NOT STAND AT THE COMEX AS THEY WERE FERRIED OVER TO LONDON VIA AN E.F.P. TO TAKE IMMEDIATE DELIVERY OVER THERE.
AUG, SAW A LOSS OF 39 CONTRACTS TO 1306
SEPT SAW A LOSS OF 2605 CONTRACTS TO 122,207
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 0.010 MILLION oz
CONFIRMED volume; ON MONDAY 66,679 good
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 6061 x 5,000 oz = 30.305 MILLION oz
to which we add the difference between the open interest for the front month of JULY( 77) and the number of notices served upon today 2 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the JULY/2024 contract month: 6061 notices served so far) x 5000 oz + OI for the front month of JULY (77)x number of notices served upon today minus (2)x 5000 oz of silver standing for the JULY contract month equates to 30.680 MILLION OZ.
New total standing: 30.680 million oz.
There are 69.377 million oz of registered silver.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44.
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 23 WITH GOLD UP $12.75 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 840.01 TONNES
JULY 22 WITH GOLD DOWN $4.40 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 840.01 TONNES
JULY 19 WITH GOLD DOWN $56.10 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;:A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD// ///INVENTORY RESTS AT 840.01 TONNES
JULY 18 WITH GOLD DOWN $2.20 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;: ///INVENTORY RESTS AT 842.02 TONNES
JULY 17 WITH GOLD DOWN $6.60 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A MASSIVE DEPOSIT OF 5.49 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 842.02 TONNES
JULY 16 WITH GOLD UP $38.60 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 836.53 TONNES
JULY 15 WITH GOLD UP $8.15 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;: /INVENTORY RESTS AT 835.09 TONNES
JULY 12 WITH GOLD DOWN $0.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 835.09 TONNES
JULY 11 WITH GOLD UP $43.05 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;:INVENTORY RESTS AT 833.37 TONNES
JULY 10 WITH GOLD UP $12.00 ON THE DAY; HUUGE CHANGES IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF 1.44 TONNES OF GOLD VAPOUR FROM THE GLD//.//:INVENTORY RESTS AT 833.37 TONNES
JULY 9 WITH GOLD UP $5.00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD.//:INVENTORY RESTS AT 834.81 TONNES
JULY 8 WITH GOLD DOWN $26.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD.//:INVENTORY RESTS AT 834.81 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
GLD INVENTORY: 840.01 TONNES, TONIGHTS TOTAL
SILVER
JULY 23 WITH SILVER UP 3 CENTS//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 15.880 MILLION OZ OF SILVER INTO THE SLV./// /INVENTORY RISES AT 439.780 MILLION OZ
JULY 22 WITH SILVER UP 2 CENTS//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 3.920 MILLION OZ OF SILVER INTO THE SLV./// /INVENTORY RISES AT 439.780 MILLION OZ
JULY 19 WITH SILVER DOWN 94 CENTS//NO CHANGES IN SILVER INVENTORY/// /INVENTORY REMAINS AT 435.854 MILLION OZ
JULY 18 WITH SILVER DOWN 13 CENTS//HUGE CHANGES IN SILVER INVENTORY” A DEPOSIT OF 2.374 MILLION OZ INTO THE SLV/// /INVENTORY RISES TO 435.854 MILLION OZ
JULY 17. WITH SILVER DOWN 75 CENTS//NO CHANGES IN SILVER INVENTORY// /INVENTORY REMAINS AT 433.480 MILLION OZ.
JULY 16. WITH SILVER UP 30 CENTS//NO CHANGES IN SILVER INVENTORY// /INVENTORY REMAINS AT 433.480 MILLION OZ.
JULY 15. WITH SILVER DOWN 24 CENTS//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 2.145 MILLION OZ FROM THE SLV.// /INVENTORY LOWERS T0 AT 433.480 MILLION OZ.
JULY 12. WITH SILVER DOWN $.65 CENTS//NO CHANGES IN SILVER INVENTORY /INVENTORY REMAINS CONSTANT AT 435.625 MILLION OZ.
JULY 11. WITH SILVER UP $.72 CENTS//HUGE CHANGES IN SILVER INVENTORY A WITHDRAWAL OF 0.731 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 435.625 MILLION OZ.
JULY 10. WITH SILVER DOWN $.04 CENTS//HUGE CHANGES IN SILVER INVENTORY A MAMMOTH WITHDRAWAL OF 3.744 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 436.356 MILLION OZ.
JULY 9. WITH SILVER UP 13 CENTS//HUGE CHANGES IN SILVER INVENTORY A MAMMOTH WITHDRAWAL OF 3.744 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 436.356 MILLION OZ.
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.
CLOSING INVENTORY 455.666 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY
end
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY
huge news; India slashes gold and silver customs as well as repatriates 100 tonnes of her gold reserves from the Bank of England
(Alasdair Macleod)
India slashes gold and silver customs duties
Not only has India slashed import duties on gold and silver from 15% to 6%, but the reserve Bank has repatriated 100 tonnes of her gold reserves from the Bank of England with more to follow.
| ALASDAIR MACLEODJUL 23∙PAID |
“To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent,” said the Finance Minister in the Budget 2024 speech. (22 July, 2024)
This is quite a turnaround for the Indian government, which being thoroughly Keynesian took a longstanding view that importation of precious metals made a negative contribution to the trade balance and was to be discouraged. Clearly, they didn’t see gold as money, but a means by which individuals evade exchange controls. It competed with the rupee as a store of value and was simply a hangover from the past.
Why the change?
There have been several changes in policy in the past of which this is the latest. For example, gold loans and forward trading were banned by the Gold Control Act in 1962, followed by the Gold Control Act of 1968, which banned citizens from owning bars and coin. Consequently, gold began to be smuggled in increasing quantities until the Acts were rescinded in 1990, replaced by an import duty of INR250 per 10 gold grammes. The government took the view that it was better to collect import duties rather than nothing at all on smuggled gold.
What has now changed is India’s integration into the Shanghai Cooperation Organisation and her membership of BRICS. India is moving away from the West towards closer trade integration with China and Russia, which have accumulated large quantities of bullion in addition to their reserves. At the same time, the US Government’s debt situation threatens the future of the dollar as a trade settlement medium. The Indian government has not been blind to these facts and began adding to her gold reserves by buying 200 tonnes from the IMF 15 years ago, since when she has been adding consistently to her reserves which by March totalled 822.1 tonnes.
Concurrent with yesterday’s budget announcement cutting import duties to 6%, the Reserve Bank has repatriated 100 tonnes of its gold reserves from the Bank of England to the Reserve Bank’s vault in Mint Road, Mumbai, or its vault in Nagar, according to a report today in the Times of India. Furthermore, the Times suggested that another similar amount of gold will follow.
No doubt, the previous 15% import duty led to the persistent discount on Indian gold prices compared with international spot prices. Reducing the duty should help import volumes, so that the loss of revenue could turn out to be not significant. However, it is bound to encourage dutiable imports, diverting them from smuggled gold.
Perhaps the more important announcement involves the repatriation of gold from the Bank of England. It is an open secret that the next BRICS summit will discuss a new trade settlement currency, and that gold will be an important component. A Russian, Alexey Subbotin, and a Chinese, Ji Luo, economists, produced a joint paper for a new trade currency they called the UNIT, which is to be 40% backed by gold.
Doubtless, this will be presented at the summit either in its current form for further discussion (it is now over a year old), or a revised version will be presented. But with gold being central to it, clearly India needs to have control over her reserves.
For such a large and important nation, arguably under 900 tonnes of gold reserves is not enough. So far as we are aware, there are no hidden gold resources in other government accounts, unlike Russia and China. Consequently, further schemes to encourage Indian citizens to lend their gold to the state can be expected, and the reduction in duties today would support that possibility.
It is all part of a process which is leading towards gold and gold substitutes, and away from fiat currencies.
end
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
4. GOLD PODCASTS//LIVE FROM THE VAULT
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COCOA
ASIA TRADING/TUESDAY MORNING/MONDAY NIGHT
SHANGHAI CLOSED DOWN 48.85 PTS OR 1.65% //Hang Seng CLOSED DOWN 166.52 PTS OR 0.94% // Nikkei CLOSED DOWN 4.61 OR 0.01%//Australia’s all ordinaries CLOSED UP 0.52%///Chinese yuan (ONSHORE) closed UP TO 7,2744 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2807/ Oil DOWN TO 78.15dollars per barrel for WTI and BRENT UP AT 82.06/Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.2744
OFFSHORE YUAN: UP TO 7.2807
SHANGHAI CLOSED DOWN 48.85 PTS OR 1;65 %
HANG SENG CLOSED DOWN 166.52 PTS OR 0.94%
2. Nikkei closed DOWN 4.61 PTS OR 0.01%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX UP TO 104.15 EURO FALLS TO 1.0863 DOWN 27 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1,065 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 156,15 JAPANESE YEN NOW FALLING AS WELL AS LONG TERM 10 YR. YIELDS RISING //EVENTUALLY THIS WILL BREAK THE JAPANESE CENTRAL BANK
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.4550/Italian 10 Yr bond yield UP to 3.748 SPAIN 10 YR BOND YIELD UP TO 3.228%
3i Greek 10 year bond yield UP TO 3.405
3j Gold at $2408.50//Silver at: 29.06 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 0 AND 68/ 100 roubles/dollar; ROUBLE AT 87.17
3m oil into the 78 dollar handle for WTI and 82 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 156.15/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.065% STILL ON CENTRAL BANK (JAPAN) INTERVENTION
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8913 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9601 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: 4.238 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.454 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.517 DOWN 1 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 32.94…
10 YR UK BOND YIELD: 4.1715 UP 1 PTS
10 YR CANADA BOND YIELD: 3.421 UP 1 BASIS PTS
2a New York OPENING REPORT
Futures Flat Ahead Of First Mag7 Reports: Alphabet, Tesla Earnings On Deck
TUESDAY, JUL 23, 2024 – 08:01 AM
US equity futures reversed earlier losses and were modestly in the green with small-caps leading and Tech lagging, following the partial retracement from yesterday and weaker Semis earnings last night. As of 7:30am, S&P futures are up 0.1%, while Nasdaq futs are 0.1% in the red with Mag7 stocks mostly flat/up ex-NVDA which is -80bps, lower with most other Semis names after disappointing earnings from NXP Semi which dropped 9% in premarket after giving a third-quarter revenue forecast that was weaker than expected. Reports after the close from GOOG/TSLA/TXN are important for the Tech trade. Bond yields are lower, USD is flat, and commodities are weaker though WTI is higher. Macro data is primarily regional activity indicators ahead of tomorrow’s Flash PMIs. There is a 2Y bond auction today; rates traders are looking for a modest concession.
In premarket trading, NXP Semiconductors shares dropped 7.9%, after the semiconductor device company gave a third-quarter revenue forecast that was weaker than expected. Wiz turned down an up-to-$23 billion takeover bid from Alphabet, sticking instead with an IPO plan. General Electric climbed in premarket trading after reporting an increase in second-quarter profit. Here are some other notable premarket movers:
- Azek shares drop 2.1% after BMO Capital Markets analyst Ketan Mamtora cut the recommendation to market perform from outperform, citing demand growth moderating for composite decking.
- Danaher shares climb 6.8% after the life-sciences firm reported sales and adjusted earnings per share from continuing operations for the second quarter that topped the average analyst estimate.
- Polaris shares slump 16% after the maker of snowmobiles, off-road vehicles and boats lowered its full-year forecasts for sales and profit.
- Snap shares rise 3.2% after Morgan Stanley raised its recommendation on the social media company to equal-weight from underweight, citing improving ad performance.
- Under Armour fell 3.1% as Morgan Stanley cut the recommendation on the sportswear maker to underweight from equal-weight, saying internal survey results came in as “neutral-to-negative.” Meanwhile, the bank raised Skechers USA to overweight from equal-weight.
- UPS shares dropped 7.4% after the delivery company posted second-quarter adjusted earnings per share below consensus and gave a revenue forecast for the full year of about $93 billion. It had previously seen revenue about $92 billion to $94.5 billion
Companies representing 29% of the S&P 500’s market value are due to report this week with Tesla and Alphabet the first of the Mag7 to post earnings this quarter. Analysts will be looking for details of Tesla’s robotaxi service, while Google parent Alphabet is expected to see a sales boost from its cloud unit. With valuations among technology firms still high after last week’s retreat, investors are looking for more evidence that their businesses are on track and the euphoria around artificial intelligence is justified.
“The earnings season is now shifting gear,” said Andrea Tueni, head of sales trading at Saxo Banque France. “This will be this week’s focus before inflation on Friday. I don’t see a repricing of the ‘Trump trade’ taking place just yet.”
About 16% of the companies in the S&P 500 have reported so far, and most have beaten earnings-per-share expectations. Analysts are predicting that index earnings grew 9% in the second quarter from a year earlier, but much of this depends on mega cap tech names. At the same time, US election developments remain front and center, with Kamala Harris now having more than enough pledged delegates to clinch the Democratic presidential nomination. On the data front, US readings on the economy are due later in the week as well as the Federal Reserve’s preferred inflation gauge.
In Europe, the Stoxx 600 Index was 0.6% higher as German software firm SAP SE rose the most since January and Swiss computer accessories maker Logitech International SA jumped. Here are some other notable movers:
- SAP shares rise as much as 7.1% to a record after the German software firm reported 28% growth in current cloud backlog — an indicator of cloud revenue to be booked within 12 months.
- Compass Group shares climb as much as 5.1% after the contract caterer reported solid third-quarter results, including a modest increase to its growth outlook for the year.
- Banca Generali shares rose as much as 4.9% in Milan after Barclays analysts raised their recommendation on the Italian bank to overweight from equal-weight.
- Interparfums shares soar as much as 17%, the biggest intraday advance since October 2002, after the perfume manufacturer reported 2Q sales that Oddo called resilient.
- ID Logistics shares soar as much as 10%, reaching the highest intraday level on record, after second-quarter sales from the international logistics and transport company beat estimates.
- Indivior shares rise as much as 4.4% in London after Piper Sandler starts coverage of the opioid-addiction treatment maker with an overweight recommendation.
- Givaudan shares drop as much as 6.4% as disappointing results in its taste and wellbeing division overshadow stellar profit for the Swiss chemical giant.
- Edenred shares drop as much as 7.9%, hitting the lowest intraday level since March 2022, after the payment-service provider reported first-half like-for-like operating revenue that came below estimates.
- UPM-Kymmene shares slide as much as 4.8%, the most since February, after latest earnings from the Finnish paper and forestry firm were described by analysts as weak on several metrics.
- Thales shares fall as much as 2.8% after the supplier of electrical systems to the defense and aerospace industries reported interim results that broadly met expectations.
- Akzo Nobel shares drop as much as 4.2% in Amsterdam, the largest decline since mid-June, after the paints-maker cut its 2024 adjusted Ebitda guidance.
- Lindt shares fell as much as 1.3%, erasing early gains, after the Swiss chocolate maker’s first-half results and a new share buyback failed to ease concern over the surge in cocoa prices.
In Asia, stocks gained, tracking an advance on Wall Street overnight, driven by a rebound in technology shares before earnings season kicks off in earnest. The MSCI Asia Pacific Index rose as much as 0.8%, snapping three days of losses, with TSMC and Samsung among the biggest boosts. Taiwan’s Taiex led gains among regional benchmarks, rising 2.8%, its biggest gain in more than five months. The advance followed a gain in the S&P 500 on Monday, ahead of results from Tesla and Alphabet. Concerns over geopolitical tensions and the sustainability of the AI rally had helped drive a rotation into laggards last week. Meanwhile, a sense of some calmness returned to the US election after Joe Biden’s withdrawal.
In FX, the Bloomberg Dollar Spot Index is little changed while the yen tops the G-10 FX leaderboard for a second day, rising 0.7% against the greenback ahead of the Bank of Japan policy meeting next week as traders look set to trim their carry positions during the summer holiday season. Some Bank of Japan officials are open to raising rates at the July meeting while others see weakness in consumer spending complicating their decision, according to people familiar with the matter.
In rates, treasuries climb, with US 10-year yields falling 2bps to 4.23% and trailing larger advances for gilts and most euro-zone bond markets. The yield curve is flatter as front end lags ahead of $69b 2-year note auction at 1pm New York time, first of three coupon auctions this week. WI 2-year yield at 4.465% is lower than 2Y auction stops since January following rally from April’s YTD yield highs fueled mainly by improving inflation trend. Treasury auction cycle also includes 5- and 7-year notes over next two days, the last coupon auctions of the May-July financing quarter, with August-to-October plans scheduled to be unveiled July 31.
In commodities, oil prices advance, with WTI rising 0.3% to trade near $78.60 a barrel. Spot gold rises $9 to around $2,405/oz.
Looking at today’s calendar, US economic data calendar includes the July Philadelphia Fed National Activity Index (8:30am), July Richmond Fed Manufacturing Index and June existing home sales (10am). Fed members scheduled to speak before the next FOMC meeting begins July 30 — a period during which a self-imposed quiet period is customary — include only Governor Bowman and Dallas Fed President Logan on July 24, both at an event on Texas community partnerships
Market Snapshot
- S&P 500 futures down 0.2% to 5,597.00
- STOXX Europe 600 up 0.1% to 515.41
- MXAP up 0.4% to 182.79
- MXAPJ up 0.3% to 566.83
- Nikkei little changed at 39,594.39
- Topix up 0.2% to 2,833.39
- Hang Seng Index down 0.9% to 17,469.36
- Shanghai Composite down 1.6% to 2,915.37
- Sensex down 0.3% to 80,279.06
- Australia S&P/ASX 200 up 0.5% to 7,971.13
- Kospi up 0.4% to 2,774.29
- German 10Y yield -1.8bps at 2.48%
- Euro down 0.1% to $1.0878
- Brent Futures up 0.4% to $82.76/bbl
- Gold spot up 0.1% to $2,399.94
- US Dollar Index little changed at 104.29
Top Overnight News
- US VP Harris’s campaign secured enough delegates to attain the Democratic Presidential nomination: AP
- DNC Chair Jaime Harrison said the Democratic Party will deliver a presidential nominee by August 7th which will allow a Vice Presidential nominee in the same time frame, while he added that if only one candidate reaches the 300-delegate threshold to be placed in nomination, virtual voting could occur as soon as August 1st: BBG
- Kamala Harris has raised more than $100 million since Sunday, including from about 680,000 first-time contributors, her campaign said. The VP has enough pledged delegates to secure the nomination. Harris will launch her presidential campaign in Milwaukee today, where she plans to use her background as a prosecutor to define Donald Trump. BBG
- Michigan Governor Whitmer endorsed Harris and said she will serve as co-chair of Harris’s campaign, while former House Speaker Pelosi also endorsed Harris for President: AP
- India raised taxes on capital gains from equity investments and hiked the levy on stock derivatives trades in a bid to douse the speculative fervor in the country’s $5 trillion stock market. The government plans to levy a 20% tax on financial assets held for less than 12 months, up from 15%, according to the budget presented in parliament Tuesday. It also increased the tax on long-term capital gains to 12.5% from 10% on all financial and non-financial assets. BBG
- Israeli Prime Minister Benjamin Netanyahu told families of hostages held in Gaza that a deal that would secure their release could be near, his office said on Tuesday, as fighting raged in the battered Palestinian enclave. RTRS
- Porsche shares fell the most on record after it issued a profit warning and cut outlook for the year. BBG
- Car manufacturers and dealers are slashing prices to offset softening demand, as high interest rates dent US consumers’ appetite for new vehicles. Average incentive packages offered on new vehicles rose 53 per cent year over year in June, according to Motor Intelligence, with manufacturers such as Hyundai, General Motors and Volkswagen offering cash back, low interest rates and price cuts to stimulate demand and clear inventories, which have marched higher since pandemic-era supply constraints eased. FT
- JPMorgan’s new investment bank co-heads are looking to handle more corporate cash flows, a mundane service that can open the door to lending and trading. In their first joint interview, Jenn Piepszak and Troy Rohrbaugh said they’re also forging ahead in private credit and deploying AI. BBG
- NXPI reported Q2 results inline on major metrics (EPS, GMs, and revs), but the Q3 guide is underwhelming (they see sales of ~$3.25B vs. the Street $3.35B w/EPS of 3.42 vs. the Street 3.56). Investors were hoping for a larger improvement in Q3 financial momentum – the outlook will likely weigh on sentiment for NXPI’s major peers (ADI, TXN, MCHP, ON, etc.). RTRS
- Google’s talks to acquire the cybersecurity startup Wiz for a planned $23 billion have fallen apart, according to a person with knowledge of the discussions. In an email to employees sent Monday and viewed by The Wall Street Journal, Wiz Chief Executive Assaf Rappaport said the company is now aiming for an initial public offering. WSJ
- AMZN’s strategy to set prices low for Echo speakers and other smart devices, expecting them to generate income elsewhere in the tech giant, hasn’t paid off. Amazon has lost tens of billions of dollars on its devices business, which includes Echos and other products such as Kindles, Fire TV Sticks and video doorbells, according to internal documents and people familiar with the business. WSJ
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mixed and only partially sustained the momentum from the tech-led rebound on Wall St ahead of key data releases and big-tech earnings as sentiment clouded by ongoing China woes. ASX 200 was underpinned with tech stocks inspired by the outperformance of the sector stateside, while energy suffered due to recent declines in oil prices and with pressure in Woodside Energy after a mixed quarterly update. Nikkei 225 boosted at the open although has since pared the majority of the gains amid a firmer currency and after a recent source report suggested indecision regarding rates at next week’s BoJ meeting. Hang Seng and Shanghai Comp. were subdued in which the latter remained the laggard as the PBoC’s recent short-term funding rate cuts and liquidity boost via 7-day reverse repos, left the market wanting more.
Top Asian News
- China Human Resources Ministry said China added 6.98mln urban new jobs in H1 and the employment situation is generally stable, while it will intensify the employment and entrepreneurship of young people such as college graduates.
- Indian Budget: India’s inflation is low and stably moving to target; uncertainties remain. Fiscal deficit seen at 4.9% vs 5.1% in interim budget. To reduce import tax on gold bars and silver bars to 6%. Long-term capital gains tax to be 12.5%.
- Chow Tai Fook Jewellery (1929 HK) Quarterly Retail Sales -20%; SSS mainland China -26.4%; SSS Hong Kong & Macau -30.8%.
European bourses, Stoxx 600 (+0.4%), are mostly but modestly higher, in what has been a choppy session thus far. European sectors hold a negative bias; Tech takes the top spot, propped up by post-earning strength in SAP (+5%), but chip names are lower, following poor NXP (-9% pre-market) results. Basic Resources is hampered by underlying weakness in the metals complex, whilst Autos lags after Porsche AG cut guidance. US equity futures (ES -0.2%, NQ -0.3%, RTY +0.1%) are mixed, with the NQ underperforming, giving back some of the hefty advances seen in the prior session, and with Tech sentiment hit following NXP results. Citi Global Equity Strategy: Upgrades UK to Neutral rating. Upgrades Telecoms sector to Overweight. Downgrades Industrials to Neutral from Overweight. Upgrades Consumer Staples to Neutral. Downgrades Emerging Markets to Underweight. Downgrades Basic Resources Sector to Underweight from Neutral.
Top European News
- ECB’s de Guindos said data-wise, September is a much more convenient month for taking decisions than July was; ECB has to be prudent when taking decisions. Inflation data is practically in line with projection. Already seeing wages starting to slow down. Inflation will be at its current levels through 2024. Will particularly closely at wage developments. Would like to see more cross-border banking M&A transactions because we want to have single banking market.
- ECB’s Lane’s opening remarks at the Joint ECB-IMF-IMFER Conference 2024 [No commentary on policy].
FX
- USD is softer vs. JPY but firmer vs. other peers. Fresh US drivers are lacking aside from noise surrounding the 2024 Presidential election race. For now, DXY is caged within yesterday’s 104.18-42 range.
- EUR/USD remains stuck below the 1.09 mark after a brief forat to 1.0903 on Monday. Fresh drivers for the EZ may be lacking in the short-term as policymakers at the ECB head for their summer break and see how the data unfolds before its September meeting. Currently trading near session lows at 1.0869.
- GBP is a touch softer vs. the USD in quiet newsflow, ahead of Wednesday’s PMI metrics. Cable sits within Monday’s 1.2906-42 range.
- JPY once again out-muscling the USD with USD/JPY slipping below Monday’s trough at 156.28 to as low as 155.83. Support comes via the 18th July low at 155.36 and 100DMA at 155.32.
- Antipodeans are both softer vs. the USD as sentiment surrounding China remains negative and metals prices stay under pressure.
- PBoC set USD/CNY mid-point at 7.1334 vs exp. 7.2746 (prev. 7.1335).
Fixed Income
- USTs are steady in quiet newsflow. There has been a lot of noise surrounding the Presidential election. However, there hasn’t been much in the way of sustained price action to Harris entering the race. US yields are a touch softer in the belly but marginally so.
- Choppy price action for Bunds with the German 10yr paring early losses, having flown past 132.00 to highs of 132.07; Bunds currently trade near session highs.
- Gilts are the laggard across core fixed income markets with no real obvious catalyst behind price action. Currently trading lower by around 14 ticks, but off worst levels of 97.61 vs current 97.80.
- UK sells GBP 1bln 0.125% 2039 I/L Gilt: b/c 3.0x (prev. 3.16x) & real yield 1.053% (prev. 1.051%)
Commodities
- Crude futures are trading indecisively on either side of the flat mark, with crude futures again in consolidation mode in the European morning in the absence of other catalysts. Brent Sep in a USD 82.22-78/bbl parameter.
- Precious metals are mixed with both spot silver and palladium in the red, but spot gold ekes mild gains; the latter benefits from news that India is to reduce import tax on gold bars and silver bars to 6%. Spot gold has inched back above USD 2,400/oz.
- Base metals are mostly softer despite the easing Dollar as the Chinese demand hangover continues, whilst pertinent newsflow for the complex remains somewhat quiet.
- World refined copper market was in a 65k metric tonne surplus in May 2024, according to ICSG.
- Russian senior oil industry source said Lukoil’s supplied through the Druzbha pipeline via Ukraine and Hungary have not resumed in July, according to Reuters.
- Germany reportedly plans 10,000km hydrogen grid costing some EUR 19.7bln, according to Bloomberg.
- Iran sets August Iranian Light Crude OSP to Asia at Oman/Dubai +USD 2.10/bbl (prev. +USD 2.60/bbl)
Geopolitics: Middle East
- Israeli warplanes broke the sound barrier over Lebanese capital Beirut and other areas of Lebanon on Tuesday, according to Reuters citing Lebanese security sources
- Israeli PM Netanyahu and US President Biden’s meeting was postponed and a US official later stated that President Biden is expected to meet Israeli PM Netanyahu on Thursday at the White House. It was also reported that Vice President Harris will meet with Israeli PM Netanyahu this week at the White House and that Netanyahu requested a meeting with GOP presidential candidate Trump while in the US this week.
- US President Biden said they will keep working to end the war in Gaza and believes a ceasefire is imminent in the Gaza conflict.
- Israeli operation in Khan Yunis killed 70 people and wounded more than 200, according to the health ministry in Gaza cited by AFP News Agency. Furthermore, Israel conducted raids on the town of Aita al-Shaab in southern Lebanon, while Hezbollah said it shelled the Tzuriel colony for the first time with dozens of Katyusha rockets in response to the attack on civilians, according to Al Arabiya and Al Jazeera.
- Japan is to impose its first sanctions on Israeli settlers in the West Bank in which it is arranging an asset freeze on Israeli settlers following similar moves by the US and UK, according to NHK.
- Leaders of Palestinian rival factions Fatah and Hamas will meet with the press in Beijing following reconciliation talks, while Chinese Foreign Minister Wang Yi will attend the meeting, according to CGTN.
- Iraq eyes a drawdown of US-led forces starting September and to formally end the coalition’s work by September 2025 with some US forces likely to remain in a newly negotiated advisory capacity, according to four Iraqi sources cited by Reuters.
Geopolitics: Other
- US official Kritenbrink said the meeting of US-Japan defence and foreign ministers will demonstrate how the two countries will ensure not just the defence of Japan, but also the contribution to regional security.
- Russian overnight attack on energy facility in Sumy region cut power to over 50,000 consumers, according to Ukraine’s energy ministry
US Event Calendar
- 08:30: July Philadelphia Fed Non-Manufactu, prior 2.9
- 10:00: July Richmond Fed Index, est. -6, prior -10
- 10:00: June Existing Home Sales MoM, est. -3.0%, prior -0.7%
- 10:00: June Home Resales with Condos, est. 3.99m, prior 4.11m
DB’s Jim Reid concludes the overnight wrap
Markets began to stabilise again yesterday, with the Magnificent 7 (+2.33%) leading the recovery after a 4-day slump last week. The moves came as earnings season is about to ramp up, with Tesla (+5.15%) and Alphabet (+2.26%) set to be the first of the Mag 7 to announce results after the US close today. We’ll have to wait to see what those bring, but the optimism spread across markets ahead of that, helping the S&P 500 (+1.08%) and STOXX 600 (+0.93%) post their best sessions since early June and claw back some of their recent losses.
When it came to yesterday’s headlines, the main story was of course the reaction to President Biden’s withdrawal from the US election. Vice President Harris has continued to cement her position as the Democratic frontrunner, and according to an unofficial tally by the Associated Press, she now has pledged support above the 1,976 delegates she will need to secure the nomination. These delegates don’t have to vote for her at the convention but it would take an extraordinary set of circumstances for someone to come from nowhere and challenge her, especially with all realistic alternative candidates pretty much coming out and backing Harris.
As we look forward to November, the main question is really what the polls look like from here. Clearly there’ve been several hypothetical polls up to now with Vice President Harris as the Democratic nominee, and they’ve shown her trailing Trump by around 2pts in the RealClearPolitics average. But those hypothetical polls can often turn out differently when presented with the reality, while the read across to the state level polling adds another challenge. So it’ll be fascinating to see if the state of the race meaningfully changes once we do get some fresh polls over the coming week, and whether Harris can narrow or even overturn Trump’s margins in the swing states that will determine the Electoral College. For now at least, the average of betting odds on RealClearPolitics gives Trump a 59% chance, slightly down from its peak of 66% on July 15, shortly after the assassination attempt.
For markets, the reaction was mainly focused on a few specific assets, and it basically led to a partial reversal of the “Trump trade” that was evident last week. Although not everything behaved as you would have expected. In essence, the perception is that Biden’s withdrawal makes it more likely that the Democrats will keep control of the White House, and the Republicans are less likely to get the full sweep that would also see them win both chambers of Congress, so making Trump’s policies marginally less likely to be implemented. This theme saw a better day for assets that might do better under a Democratic administration, such as solar energy firms including Sunrun SolarEdge Technologies (+2.37%) and SunPower (+5.37%). Meanwhile in the FX space, the Mexican Peso (+0.76%) strengthened against the US Dollar, and was one of the top-performing global currencies yesterday.
Overall, while there were some clear moves in specific assets, it was difficult to detect a broader move to price in any political outcomes across equities and bonds. One classic “Trump trade” has been a curve steepening. While this saw some reversal early in yesterday’s session, with the 2s10s curve trading 3bps flatter intra-day, by the close it was actually +1.0bps steeper at -26.7bps. This came as a rise in yields around the European close sent yields higher across the curve, leaving the 2yr yield up +0.5bps at 4.52%, and the 10yr yield up +1.4bps at 4.25%. However in Asia this morning, yields on 10yr USTs are -1.6bps lower as we go to print. Over in Europe, yields on 10yr bunds (+2.7bps), OATs (+1.5bps) and gilts (+3.7bps) all moved higher.
Whilst bonds were losing ground, equities did have a much better day, with the Magnificent 7 (+2.33%) leading the way. That helped the NASDAQ (+1.58%) to outperform as well, with the S&P 500 (+1.08%) lagging behind both. However, energy stocks came off badly, with those in the S&P 500 down -0.72%. That comes after energy stocks outperformed the broader S&P by 4% last week (+2.02% vs – 1.97%) amid the Trump rotation trade but it wasn’t helped yesterday by a fresh decline in oil prices as WTI crude closed below $80/bbl for the first time in over a month (-0.44% to $79.78/bbl). Back in Europe, equities generally followed a similar pattern, albeit with larger gains, and there were decent advances for the STOXX 600 (+0.93%), the DAX (+1.29%) and the CAC 40 (+1.16%).
In Asia the Nikkei (+0.20%), KOPSI (+0.35%) and the S&P/ASX 200 (+0.63%) are higher but with Chinese markets are underperforming on continued disappointment following the Third Plenum and also concern over the rationale for the PBOC’s surprise interest rate cut yesterday. In terms of specific moves, the CSI (-1.04%) is leading losses with the Shanghai Composite (-0.59%) and the Hang Seng (-0.10%) also edging lower. S&P 500 (-0.21%) and NASDAQ 100 (-0.35%) futures are also drifting lower.
To the day ahead now, and data releases include US existing home sales for June, the Richmond Fed’s manufacturing index for July, and the European Commission’s preliminary consumer confidence indicator for the Euro Area in July. From central banks, we’ll hear from the ECB’s Lane. And today’s earnings releases include Alphabet, Tesla, Visa, Coca-Cola, General Electric and General Motors.
2B EUROPE OPENING/TRADING
Europe Market Open: APAC stocks were mixed and only partially sustained the momentum from the tech-led rebound on Wall St.
TUESDAY, JUL 23, 2024 – 01:31 AM
- APAC stocks were mixed and only partially sustained the momentum from the tech-led rebound on Wall St.
- US VP Harris’s campaign secured enough delegates to attain the Democratic Presidential nomination.
- European equity futures indicate a mildly higher open with Euro Stoxx 50 futures up 0.2% after the cash market finished with gains of 1.5% on Monday.
- USD is mixed vs. peers, JPY is the best performer across the majors, EUR/USD is sub-1.09.
- Looking ahead, highlights include EU Consumer Confidence, US Richmond Fed Index, CBRT & NBH Policy Announcement, ECB’s Lane, Supply from UK, Germany, US, Earnings from Alphabet, Tesla, Visa, Coca-Cola, General Motors, Philip Morris & Spotify.
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US TRADE
EQUITIES
- US stocks pared some of the prior week’s losses ahead of key earnings and data with advances led by outperformance in the Tech sector which rose nearly 2% leading into the big tech earnings and amid a surge in Nvidia shares after reports the chip behemoth is working on a version of its new flagship AI chips for the Chinese market that would be compatible with US export controls. All major indices finished in the green and outperformance was seen in the Nasdaq and Russell 2000, while there was plenty of focus on the US election after President Biden dropped out of the Presidential race over the weekend with VP Harris the front runner for the Democratic nomination although participants are still mulling whether it is too late or not to boost the Dems chance vs Trump.
- SPX +1.08% at 5,664, NDX +1.54% at 19,822, DJI +0.32% at 40,415, RUT +1.69% at 2,221.
- Click here for a detailed summary.
NOTABLE HEADLINES
- US VP Harris’s campaign secured enough delegates to attain the Democratic Presidential nomination.
- Michigan Governor Whitmer endorsed Harris and said she will serve as co-chair of Harris’s campaign, while former House Speaker Pelosi also endorsed Harris for President.
- DNC Chair Jaime Harrison said the Democratic Party will deliver a presidential nominee by August 7th which will allow a Vice Presidential nominee in the same time frame, while he added that if only one candidate reaches the 300-delegate threshold to be placed in nomination, virtual voting could occur as soon as August 1st.
APAC TRADE
EQUITIES
- APAC stocks were mixed and only partially sustained the momentum from the tech-led rebound on Wall St ahead of key data releases and big-tech earnings as sentiment clouded by ongoing China woes.
- ASX 200 was underpinned with tech stocks inspired by the outperformance of the sector stateside, while energy suffered due to recent declines in oil prices and with pressure in Woodside Energy after a mixed quarterly update.
- Nikkei 225 boosted at the open although has since pared the majority of the gains amid a firmer currency and after a recent source report suggested indecision regarding rates at next week’s BoJ meeting.
- Hang Seng and Shanghai Comp. were subdued in which the latter remained the laggard as the PBoC’s recent short-term funding rate cuts and liquidity boost via 7-day reverse repos, left the market wanting more.
- US equity futures were uneventful overnight as participants braced for incoming earnings including from Alphabet and Tesla.
- European equity futures indicate a mildly higher open with Euro Stoxx 50 futures up 0.2% after the cash market finished with gains of 1.5% on Monday.
FX
- DXY was contained in a very tight range between 104.20-104.31 ahead of the key data releases later in the week and with newsflow from the US very quiet outside of politics.
- EUR/USD lacked direction following its recent failure to sustain the 1.0900 status, while the data release schedule for Europe remains light on Tuesday.
- GBP/USD traded sideways after its recent choppy performance and amid the absence of pertinent catalysts.
- USD/JPY gradually declined throughout the session after slipping back beneath the 157.00 handle.
- Antipodeans remained subdued amid headwinds from lingering China concerns and lacklustre commodity prices.
- PBoC set USD/CNY mid-point at 7.1334 vs exp. 7.2746 (prev. 7.1335).
FIXED INCOME
- 10-year UST futures recouped yesterday’s losses but with upside limited ahead of supply and upcoming key data releases.
- Bund futures languished at a sub-132.00 level as participants await a Schatz auction later and tomorrow’s Bund offering.
- 10-year JGB futures clawed back some of Monday’s losses with the BoJ’s in the market for over JPY 1.2tln of JGBs with 1yr-10yr maturities, while a recent source report noted that weak consumption is complicating the BoJ’s rate decision next week.
COMMODITIES
- Crude futures traded rangebound amid a lack of energy-specific catalysts and with prices restricted following recent declines and China-related economic concerns.
- Spot gold attempted to nurse some of the prior day’s losses and briefly reclaimed the USD 2,400/oz status.
- Copper futures were little changed as risk momentum somewhat stalled in Asia and amid weakness in its largest buyer.
- World refined copper market was in a 65k metric tonne surplus in May 2024, according to ICSG.
CRYPTO
- Bitcoin was ultimately flat on the session after oscillating around the USD 67,500 level.
- US SEC told issuers US spot ETF products can start trading on Tuesday, according to two firms cited by Reuters
NOTABLE ASIA-PAC HEADLINES
- China Human Resources Ministry said China added 6.98mln urban new jobs in H1 and the employment situation is generally stable, while it will intensify the employment and entrepreneurship of young people such as college graduates.
GEOPOLITICAL
MIDDLE EAST
- Israeli PM Netanyahu and US President Biden’s meeting was postponed and a US official later stated that President Biden is expected to meet Israeli PM Netanyahu on Thursday at the White House. It was also reported that Vice President Harris will meet with Israeli PM Netanyahu this week at the White House and that Netanyahu requested a meeting with GOP presidential candidate Trump while in the US this week.
- US President Biden said they will keep working to end the war in Gaza and believes a ceasefire is imminent in the Gaza conflict.
- Israeli operation in Khan Yunis killed 70 people and wounded more than 200, according to the health ministry in Gaza cited by AFP News Agency. Furthermore, Israel conducted raids on the town of Aita al-Shaab in southern Lebanon, while Hezbollah said it shelled the Tzuriel colony for the first time with dozens of Katyusha rockets in response to the attack on civilians, according to Al Arabiya and Al Jazeera.
- Japan is to impose its first sanctions on Israeli settlers in the West Bank in which it is arranging an asset freeze on Israeli settlers following similar moves by the US and UK, according to NHK.
- Leaders of Palestinian rival factions Fatah and Hamas will meet with the press in Beijing following reconciliation talks, while Chinese Foreign Minister Wang Yi will attend the meeting, according to CGTN.
- Iraq eyes a drawdown of US-led forces starting September and to formally end the coalition’s work by September 2025 with some US forces likely to remain in a newly negotiated advisory capacity, according to four Iraqi sources cited by Reuters.
OTHER
- US official Kritenbrink said the meeting of US-Japan defence and foreign ministers will demonstrate how the two countries will ensure not just the defence of Japan, but also the contribution to regional security.
2e) JAPAN
JAPAN
3 CHINA
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
SWITZERLAND, THE GLOBE/BIG MAC INDEX
Here is our famous big Mac index which shows which countries have the most expensive Big Macs
Switzerland leads the pack at 8.17 dollars per usa.
Swiss ‘Big Macs’ Are 44% More Expensive Than In America
TUESDAY, JUL 23, 2024 – 02:45 AM
What can a Big Mac tell us about currency rates? As it turns out, quite a lot.
The Big Mac Index, created by The Economist in 1986, started out as a simple tool to make currency theory more digestible. Now, it’s a widely-known measure in popular economics to assess and compare currency valuations.
In short, the Big Mac index compares the purchasing power parity (PPP) of currencies using the price of a Big Mac in the U.S. as the benchmark. It shows how much a Big Mac costs in various countries compared to the U.S., but it also works as a way to assess exchange rates.
In this graphic, Visual Capitalist’s Kayla Zhu visualizes the price of a McDonald’s Big Mac in U.S. dollars between 13 different countries around the world, the eurozone, and the United States, using the latest January 2024 data from The Economist’s Big Mac Index dataset.
Calculating the Big Mac Index to Assess Currencies
One can use the price of Big Macs in other countries to see if a currency has more or less purchasing power than expected. This is done by taking the local price of a Big Mac (in local currency) and dividing it by the U.S. price of a Big Mac to calculate an implied exchange rate.
This implied exchange rate is then compared against the actual exchange rate between the two currencies; if the implied rate is higher than the actual rate, the local currency is “overvalued”, and if it is lower, the local currency is “undervalued”.
It’s worth noting that this measure is relatively simplistic and doesn’t account for some factors like taxes, local production costs, and market barriers.
The Big Mac Index
Switzerland has the most expensive Big Macs in the world at $8.17 USD, which is 44% more expensive than the price of a Big Mac in the United States. Using the Big Mac Index, that suggests that the Swiss franc is 44% overvalued against the U.S. dollar.
| Country | Price of Big Mac in USD | Big Mac Index (USD) |
|---|---|---|
| 🇨🇭 Switzerland | $8.17 | 43.53% |
| 🇳🇴 Norway | $7.14 | 25.47% |
| 🇺🇾 Uruguay | $7.04 | 23.72% |
| 🇪🇺 Euro area | $5.87 | 3.12% |
| 🇸🇪 Sweden | $5.87 | 3.08% |
| 🇨🇷 Costa Rica | $5.71 | 0.39% |
| 🇬🇧 Britain | $5.71 | 0.36% |
| 🇩🇰 Denmark | $5.69 | 0.03% |
| 🇺🇸 United States | $5.69 | 0.00% |
| 🇱🇰 Sri Lanka | $5.69 | -0.03% |
| 🇨🇦 Canada | $5.56 | -2.37% |
| 🇲🇽 Mexico | $5.19 | -8.74% |
| 🇨🇴 Colombia | $5.09 | -10.60% |
| 🇦🇺 Australia | $5.07 | -10.82% |
| 🇸🇦 Saudi Arabia | $5.07 | -10.97% |
| 🇳🇿 New Zealand | $5.01 | -12.03% |
| 🇵🇱 Poland | $4.97 | -12.74% |
| 🇸🇬 Singapore | $4.96 | -12.88% |
| 🇻🇪 Venezuela | $4.93 | -13.28% |
| 🇦🇪 United Arab Emirates | $4.90 | -13.87% |
| 🇧🇷 Brazil | $4.81 | -15.48% |
| 🇱🇧 Lebanon | $4.80 | -15.56% |
| 🇨🇿 Czech Republic | $4.61 | -18.97% |
| 🇰🇼 Kuwait | $4.55 | -20.05% |
| 🇮🇱 Israel | $4.52 | -20.63% |
| 🇧🇭 Bahrain | $4.51 | -20.74% |
| 🇨🇱 Chile | $4.46 | -21.68% |
| 🇳🇮 Nicaragua | $4.34 | -23.70% |
| 🇵🇪 Peru | $4.25 | -25.32% |
| 🇭🇳 Honduras | $4.13 | -27.37% |
| 🇰🇷 South Korea | $4.11 | -27.81% |
| 🇭🇺 Hungary | $3.98 | -30.11% |
| 🇹🇷 Turkey | $3.97 | -30.29% |
| 🇶🇦 Qatar | $3.85 | -32.42% |
| 🇦🇷 Argentina | $3.83 | -32.61% |
| 🇵🇰 Pakistan | $3.81 | -33.09% |
| 🇹🇭 Thailand | $3.78 | -33.50% |
| 🇬🇹 Guatemala | $3.71 | -34.78% |
| 🇴🇲 Oman | $3.69 | -35.18% |
| 🇲🇩 Moldova | $3.56 | -37.45% |
| 🇯🇴 Jordan | $3.53 | -38.03% |
| 🇦🇿 Azerbaijan | $3.49 | -38.58% |
| 🇨🇳 China | $3.47 | -38.99% |
| 🇷🇴 Romania | $3.42 | -39.85% |
| 🇯🇵 Japan | $3.04 | -46.51% |
| 🇻🇳 Vietnam | $3.01 | -47.06% |
| 🇭🇰 Hong Kong | $2.94 | -48.30% |
| 🇺🇦 Ukraine | $2.94 | -48.37% |
| 🇵🇭 Philippines | $2.86 | -49.74% |
| 🇲🇾 Malaysia | $2.78 | -51.10% |
| 🇪🇬 Egypt | $2.75 | -51.66% |
| 🇿🇦 South Africa | $2.71 | -52.46% |
| 🇮🇳 India | $2.59 | -54.51% |
| 🇮🇩 Indonesia | $2.43 | -57.29% |
| 🇹🇼 Taiwan | $2.39 | -57.95% |
European countries like Switzerland, Norway, and those in the eurozone tend to have more expensive Big Macs than the United States. This indicates that these European currencies may be overvalued relative to the U.S. dollar.
On the other end of the spectrum, several major East Asian economies, including Taiwan, Japan, China, and South Korea, have currencies substantially undervalued against the U.S. dollar, according to the Big Mac Index.
In April, the Bank of America stated it was not bullish “on any currency in Asia” and mentioned the Chinese yuan, South Korean won, and Taiwan dollar under its bearish category. In June, the Japanese yen hit a 38-year low against the dollar.
GERMANY/ USA
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL HAMAS/
Israel Gives 400,000 Palestinians Minutes To Flee Khan Yunis Before Fresh Blitz
the cradle
MONDAY, JUL 22, 2024 – 08:20 PM
The Israeli army ordered the sudden evacuation of over 400,000 Palestinians taking shelter in eastern Khan Yunis Monday, dropping leaflets in the besieged city moments before warplanes began their raids.
At least 35 deaths, including five children, were reported in the initial aftermath of the attacks. Dozens of injured Palestinians have also been pouring into the barely functional Nasser Medical Complex.
Authorities at Nasser Medical Complex appealed for urgent blood donations, saying it faces a shortage of blood units, “which poses a serious threat to the lives of the sick and injured in light of the ongoing massacres carried out by the occupation forces against the innocent and civilians.”
The Israeli military said in a statement on Monday morning: “The IDF is about to forcefully operate against the terror organizations and therefore calls on the remaining population left in the eastern neighborhoods of Khan Yunis to temporarily evacuate to the adjusted humanitarian area in Al-Mawasi,”
Israeli Army Radio reported that Monday’s air raids in Khan Yunis are the most violent since the end of the military operation in the city earlier this year.
Local reports say many victims are still under the rubble and scattered along the streets, with ambulance and civil defense crews unable to reach them due to the violent and continuous shelling.
The brutal attack on thousands of displaced families comes as Israeli Prime Minister Benjamin Netanyahu is on his way to the US capital to meet with top authorities before addressing a joint session of congress.
Chaos as civilians flee the assault at the last minute…
Speaking to reporters before his trip, the premier said his visit to Washington would be “an opportunity to discuss with [US President Joe Biden] how to advance in the critical months ahead the goals that are important for both our countries – achieving the release of all our hostages, defeating Hamas, confronting the terror axis of Iran, and ensuring that all of Israel’s citizens can return safely to their homes in the north and the south.”
Netanyahu is on a direct flight to the US capital, deciding to avoid stops in any European nation under fears of being detained in compliance with an expected arrest warrant from the International Criminal Court (ICC) over war crimes committed in Gaza.
END
ISRAEL HAMAS
IDF is now going after the terrorists funding activities
(Jerusalem Post)
IDF activities threaten Hamas and Hezbollah terror funding
The IDF’s recent actions disrupted terrorist financing by eliminating Tahsin Al-Andis in Gaza and Baraa Katerji in Syria.
By MAARIV ONLINEJULY 23, 2024 03:49
The IDF recently announced the neutralization of terrorist Tahsin Al-Andis, a key funder of Gaza-based terrorist groups, and the killing of Syrian businessman Baraa Katerji, linked to Hezbollah and ISIS.
The IDF spokesperson announced on Saturday that two days prior, the terrorist Tahsin Al-Andis, who had transferred funds to terrorist organizations in the Gaza Strip, including the military wing of Hamas, was neutralized. Additionally, on Friday, a building used by the company “Al-Khara,” where Al-Andis worked, was surrounded by IDF forces.
Since the beginning of the conflict, Al-Khara has been a central infrastructure for storing and transferring funds for terrorist organizations in the Gaza Strip and for executing terrorist operations.
The building is located in the humanitarian area of the Deir el-Balah region and serves as a base for terrorist activity. Saudi channel Al Hadath reported that Israel has changed its tactics and started targeting funders of Hezbollah and Hamas, even in Iran and Yemen.
The elimination in the Gaza Strip followed the killing of Katerji, a Syrian businessman close to the Syrian President Bashar al-Assad’s regime. Katerji’s vehicle was struck while traveling in the Al-Sabura area, west of Damascus, on the highway connecting Syria to Lebanon.
Tal Bari, head of the research department at the “Alma” institute, explained: “Katerji assisted in directly supplying fuel to Hezbollah and the Shiite Axis forces operating under the Quds Force in Syria and was involved in money laundering.
Coordinated campaign against Katerji aimed to pressure and extort
“He was also included on US, European, and Saudi sanctions lists due to his role in strengthening the Assad regime’s economy. The US Treasury Department reported that Katerji acted as a mediator between the Syrian regime and ISIS in closing oil deals,” he said.
Bari notes that in May 2016 and December 2017, articles about Katerji were published in Al-Akhbar, a major Hezbollah mouthpiece: “The December 2017 article was titled ‘Catch the Whale,’ and it seems the articles were part of a coordinated campaign by the Shiite Axis against Katerji, likely aimed at applying pressure and extortion within financial disputes and control struggles.”
According to foreign reports prior to the publication, the Hezbollah money exchanger Muhammad Sarour was killed after being shot five times in the town of Beit Mery near Beirut.
Information provided by Israel, starting in 2016, to law enforcement agencies in the US and globally, and recently through the National Headquarters for Economic Warfare Against Terrorism (MATAL) in the Defense Ministry, described Sarour as a mediator between the Quds Force of the Iranian Revolutionary Guard in Lebanon and Hamas’s military wing, and also working with Hezbollah’s financial unit.
In August 2019, the US Treasury Department announced sanctions on four individuals, including Sarour, for aiding in the transfer of tens of millions of dollars from the Quds Force, responsible for the Iranian Revolutionary Guard’s external operations, to Hamas through Hezbollah in Lebanon for terrorist activities.
The Treasury noted that Sarour was “responsible for transferring tens of millions of dollars annually from the Quds Force to the Izz ad-Din al-Qassam Brigades,” the military wing of Hamas.
end
In a major operation the Maglan unit eliminated many terrorists hiding behind a fridge
(Jerusalem Post)
IDF Maglan raid unit eliminates multiple terrorists hiding behind fridge in residential building
Maglan unit operates in the Gaza Strip to eliminate terrorists. During one operation, they find a terrorist hideout underneath a residential building, where they eliminate multiple terrorists.
By JERUSALEM POST STAFFJULY 23, 2024 01:56
In a recent operation in the Gaza Strip, the Maglan raid unit, led by Captain G., eliminated several terrorists who were hiding behind a fridge underneath a residential building in Khan Yunis, the IDF reported on Monday.
In a recent operation to clear the southern area of the Khan Yunis, the forces were divided into two teams to search different floors of a targeted building. Once the soldiers arrived at a courtyard, they were suddenly attacked.
According to the IDF, the team quickly assessed the situation, identified the source of the attack, and found a hidden basement behind a refrigerator, they threw a grenade and continued their operation, successfully neutralizing the first terrorist.
“We gained operational control, but it’s still unclear how many terrorists are there. I start assessing risks and figuring out what to do,” said Captain G. “An attack helicopter won’t help since the terrorists are underground. The building might collapse, but it’s not certain they will be neutralized.”
Simultaneously, drones were monitoring the terrorists, who continued to shoot at the soldiers in the courtyard. Understanding that traditional methods of approaching the situation were not an option, Captain G quickly decided to create an additional entry point, and shortly after the terrorist was eliminated, the IDF reported.
“The team commander approached the entry point, and within seconds, a burst of gunfire was directed at him from inside,” the IDF cited a Maglan platoon commander from the operation. “An injured fighter throws a grenade towards the terrorist, and the rest of the team begins evacuating their comrade, at a speed I haven’t seen before.”
Extended operation to defeat terrorists
After eliminating the second terrorist, the commando forces decided to create an additional entry point into the storage facility where another terrorist was located, the IDF stated. To achieve that, the soldiers used drones to confuse him and avoid risking the soldiers’s safety.
The operation, that began during daylight and extended into the night. The fighters deployed four drones with large flashlights, allowing them to identify openings at the compound’s far side, through which they managed to approach the terrorist from behind. Shortly after they were able to confirm the terrorist’s death, according to the IDF.
“The next day,” the Maglan platoon commander began describing, “we discovered two more terrorists we had neutralized in the same battle, a living area, a large arsenal, and combat gear and equipment – all while a residential building was above us.”
“We learn a lot from this fighting,” notes Captain G. “You practice the terrain, improve your real-time thinking, learn new tactics every day, and most importantly, understand how to be a better commander for your fighters.”
end
ISRAEL /USA
Trump Confirms Netanyahu Meeting At Mar-A-Lago
TUESDAY, JUL 23, 2024 – 01:59 PM
Update(1359ET): After earlier in the week Prime Minister Netanyahu requested a private meeting with former President Donald Trump while he’s in the US to address Congress, Trump has finally confirmed the meeting will happen Thursday.
The two will meet at Trump’s Mar-a-Lago resort in Florida, according to breaking reports, and this will be the same day that Biden hosts Netanyahu for a meeting at the White House (assuming that it does proceed).
Netanyahu is likely eagerly awaiting the day that Trump retakes the White House, given the Republican nominee is seen as most staunchly supportive of Israel. Meanwhile, Biden reemerges after a week of not being seen in public:
https://x.com/i/status/1815806691503403345
* * *
It has been about a week since President Joe Biden has been seen in public or on camera, and six days since his Covid-19 diagnosis. His meeting with Israeli Prime Minister Benjamin Netanyahu, who just arrived in Washington, was initially scheduled for Tuesday, but that has been pushed back till Thursday, Fox reports, while also noting that “Israeli officials were confused if the two leaders would meet at all.”
As of Monday afternoon the president was at Rehoboth Beach, Delaware – said to be recovering and in isolation. Amid rumors and speculation about his health, there’s another obvious question: when will the US President and Commander-in-Chief actually be seen?
It appears Netanyahu is set to be the first foreign official to literally lay eyes on Biden, and up close, since the Democratic president announced he is withdrawing from running for a second term Sunday.
Netanyahu’s controversial address in front of Congress is set for Wednesday, to be boycotted by many Democrats, and while Vice President Kamala Harris will not preside over the address (as is normally customary for a VP) and intends to skip the speech, she is planning a private meeting with the Israeli leader.
“Harris was scheduled to attend an event for the Zeta Phi Beta sorority in Indianapolis before the Israeli prime minister’s address date was set,” reports Politico. “The conflict allows Harris to circumvent the question of whether to attend the address, a political challenge for many Democrats who oppose the way Israel is conducting the war in Gaza.”
Netanyahu had said before departing from Tel Aviv, “regardless [of] who the American people choose as their next president.” Interestingly, his flight had to avoid a stopover in Europe due to the International Criminal Court’s arrest warrant hanging over his head, to avoid any awkward situations with European allies who also happen to be signatories of the Rome Statute.
Netanyahu while in the United States is also seeking a sit-down with former president and current Republican nominee Donald Trump, or at least a phone call. It’s as yet unclear if Trump has agreed to such a meeting, but it is likely. The scheduling and logistics have remained a little up in the air due to the White House’s dramatic shuffling of Biden’s schedule.
Netanyahu was among the first world leaders to register shock and solidarity in the wake of the assassination attempt on Trump…
So in all, Netanyahu in addition to addressing Congress might end up in separate meetings with all three of the following: Biden, Harris, and Trump. But in Bibi’s mind, it’s likely that only one meeting will be the one that matters for the future.
Also, it’s being widely reported that the Israeli PM plans to delay cementing any level of a Gaza truce deal with Hamas until after the November US election.
ISRAEL/HOUTHIS
ISRAEL/GREECE
Greece condemns attack on Arab-Israeli mistaken for a Jewish man
Fahad Qubati, a 24-year-old Christian from Nazareth who served in the IDF, was visiting Greece when he was assaulted by 12 attackers, witnesses said.
By JERUSALEM POST STAFFJULY 22, 2024 23:52
The Greek embassy in Israel issued a statement on Monday condemning the assault on an Arab-Israeli tourist in the coastal town of Malia last Wednesday.
“Greece strongly condemns the violent assault on an Israeli citizen last Wednesday. Competent authorities are conducting a thorough investigation. Acts of violence are unacceptable. All Israelis are welcome in Greece, which is a totally safe tourist destination,” the embassy stated.
Fahad Qubati, a 24-year-old Christian from Nazareth who served in the IDF, was visiting Greece when he was assaulted. The attackers left him with injuries to his head and jaw, requiring him to be hospitalized, according to the Jewish Chronicle.
How did the attackers identify Quatbi’s Israeli identity?
The attackers had reportedly heard Qubati listening to Israeli music with Hebrew lyrics. Qutabi was playing the song as he drove alongside Jewish tourists.
The attack only ceased once Qutabi provided a cross – proving that he was not Jewish.
“This was not just an attack, it was an attempted murder,” the victim’s mother Jacqueline Qubati told Ynet. “I pray for my son’s recovery and will pursue this case until the attackers are punished,” she said.
A Jewish witness told Ynet that there were 12 different attackers, “some of whom were club security guards.”
“I heard everyone running, and when I looked to see what was happening, I saw one of the motorcyclists chasing my friends with a gun. For half an hour, I didn’t know if they were alive. When I got to the hotel, one of my friends told me that the guy on the motorcycle threatened them with the weapon, saying, ‘We know where you are staying, leave the hotel today. We are coming.’ It was terrifying; we survived by a miracle. The whole world must know about these serious acts,” the witness said.
“The attack was severe and purely based on racism,” another witness told Ynet. “I thought Fahad would be murdered. He received a brutal beating, but if we had intervened, they would have killed us. We are tourists. In the end, everyone will believe the attackers and abandon us.”
end
Netanyahu To Have Separate Meetings With Biden, Harris, & Likely Trump Too
BY TYLER DURDEN
TUESDAY, JUL 23, 2024 – 09:30 AM
It has been about a week since President Joe Biden has been seen in public or on camera, and six days since his Covid-19 diagnosis. His meeting with Israeli Prime Minister Benjamin Netanyahu, who just arrived in Washington, was initially scheduled for Tuesday, but that has been pushed back till Thursday, Fox reports, while also noting that “Israeli officials were confused if the two leaders would meet at all.”
As of Monday afternoon the president was at Rehoboth Beach, Delaware – said to be recovering and in isolation. Amid rumors and speculation about his health, there’s another obvious question: when will the US President and Commander-in-Chief actually be seen?
It appears Netanyahu is set to be the first foreign official to literally lay eyes on Biden, and up close, since the Democratic president announced he is withdrawing from running for a second term Sunday.
Netanyahu’s controversial address in front of Congress is set for Wednesday, to be boycotted by many Democrats, and while Vice President Kamala Harris will not preside over the address (as is normally customary for a VP) and intends to skip the speech, she is planning a private meeting with the Israeli leader.
“Harris was scheduled to attend an event for the Zeta Phi Beta sorority in Indianapolis before the Israeli prime minister’s address date was set,” reports Politico. “The conflict allows Harris to circumvent the question of whether to attend the address, a political challenge for many Democrats who oppose the way Israel is conducting the war in Gaza.”
Netanyahu had said before departing from Tel Aviv, “regardless [of] who the American people choose as their next president.” Interestingly, his flight had to avoid a stopover in Europe due to the International Criminal Court’s arrest warrant hanging over his head, to avoid any awkward situations with European allies who also happen to be signatories of the Rome Statute.
Netanyahu while in the United States is also seeking a sit-down with former president and current Republican nominee Donald Trump, or at least a phone call. It’s as yet unclear if Trump has agreed to such a meeting, but it is likely. The scheduling and logistics have remained a little up in the air due to the White House’s dramatic shuffling of Biden’s schedule.
Netanyahu was among the first world leaders to register shock and solidarity in the wake of the assassination attempt on Trump…
So in all, Netanyahu in addition to addressing Congress might end up in separate meetings with all three of the following: Biden, Harris, and Trump. But in Bibi’s mind, it’s likely that only one meeting will be the one that matters for the future.
Also, it’s being widely reported that the Israeli PM plans to delay cementing any level of a Gaza truce deal with Hamas until after the November US election.
ISRAEL/HEZBOLLAH/LEBANON
ISRAEL/WEST BANK
WATCH: Israeli forces eliminate Hamas commander, other terror leaders in Tulkarm, West Bank
The IDF reported that the operation was part of a series of over 50 counterterrorism operations in the area since the beginning of the war.
By MAYA GUR ARIEHJULY 23, 2024 07:15Updated: JULY 23, 2024 13:19
https://player.jpost.com/public/player.html?player=jpost&media=3744357&url=https://www.jpost.com/breaking-news/article-811501IDF, Shin Bet identify and strike heads of terror organizations in Tulkarm, July 23, 2024.
The IDF, Shin Bet, and Israel Border Police conducted a joint counterterrorism operation in the Tulkarm area overnight, the military reported Tuesday.
During the operation, soldiers encountered many terrorists, including a terrorist disguised as a paramedic, Maariv reported. According to the reports, the terrorist was armed. Soldiers also dismantled numerous explosives that had been planted underneath roads.
The IDF estimated that eight terrorists were killed in the Tulkarm operation, among them a senior member of Hamas in the West Bank.
The military confirmed that among the terrorists eliminated was Ashraf Nafa, commander of the Izzadin al-Qassam brigades in Tulkarm, the military wing of Hamas, was killed. Nafa was responsible for manufacturing and embedding explosives intended to attack IDF soldiers and worked to recruit operatives for Hamas.
Another terrorist killed was Muhammad Awad, who operated in the Tulkarm area and was actively involved in shooting attacks against IDF soldiers. He also worked to raise terror funds to support terrorism in the area.
The operation was coordinated and carried out under the Menashe Brigade and included soldiers from the Duvdevan commando unit and the Kfir Brigade, who operated according to intelligence gathered by the Defense Ministry and Shin Bet (Israel Security Agency).
In the backdrop of these operations, at least three senior commanders of terrorist organizations were eliminated, including terrorist commanders of Hamas and Fatah. The IDF has identified a trend of Hamas and Fatah joining forces in the area of the Menashe Brigade.
Two individuals were injured by bullets, one in critical condition, the Palestine Red Crescent stated.
Palestinian media noted that both Hamas and Fatah operatives in the area were struck by the IDF.
Safa, the Hamas-affiliated news network, stated that three terrorists were killed. They also claimed that the Israeli military bombed the Tulkarm camp with smoke bombs.
Clashes around Hebron, Nablus break out
Clashes also reportedly broke out between the IDF and terrorists in the town of Sa’ir, north of Hebron, Safa stated. The Palestinian Authority’s health ministry claimed that a Palestinian was killed in the area of Sa’ir, and another woman was taken to the Tulkarm Governmental Hospital.
Hezbollah-affiliated news network Al Mayadeen stated that two Palestinians were killed in clashes north of Hebron.
Wafa, a network affiliated with the Palestinian Authority, claimed that IDF forces arrested a Palestinian from Burqa, northwest of Nablus.
The IDF reported that the operation was part of a series of over 50 counterterrorism operations in the area since the beginning of the war.
Amir Bohbot and Avi Ashkenazi contributed to this report.
ISRAEL/HOUTHIS/RED SEA
end
RUSSIA/UKRAINE/
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
Please: never take the poisonous bird flu vaccine
(zerohedge)
Bird Flu: They Fooled Us Once, Looks Like They’ll Try To Fool Us Again…
BY TYLER DURDEN
MONDAY, JUL 22, 2024 – 10:20 PM
Authored by Daisy Luther via The Organic Prepper blog,
The more we learn about the made-up rules enforced during the COVID-19 pandemic, the more outrageous the entire thing becomes. Anthony Fauci had the utter audacity to sit in Congress and admit they had no data, so they just creatively improvised things like social distancing measures. They fooled a lot of folks once, so shame on them. It looks like they’re about to try and fool us twice with the Bird Flu. If we fall for it again, then shame on us.
They did everything from withholding effective medications to depriving people of employment to shaming people publicly, discriminating against them, and wishing them dead.
Then as if 2020 and 2021 weren’t brutal enough, we find out from Congressional investigations and Anthony Fauci’s recent testimony it was all a bunch of baloney to make Big Pharma rich and Big Government powerful. People died who didn’t need to die, the elderly became isolated from their loved ones, medical personnel became burned out and traumatized, and children lost an entire year of educational experiences. Others were vaccinated, some eagerly and some grudgingly, and are suffering longterm disability and even death from the hastily created mRNA vaccine.
If we don’t take away some lessons from this, we don’t deserve to call ourselves preppers.
And it looks like we’re about to be tested on what we’ve learned.
The Bird Flu
Last week, Dr. Peter McCullough of The Wellness Company released an update on where we stand with the bird flu (H5N1), where this is heading, and what individuals can do to stay safe and informed.
First, Dr. McCullough says the mass destruction of livestock to “eradicate” the virus is “futile” and will only work to harm our food supply – not end the spread of bird flu.
Second, Dr. McCullough believes it is clear that the rapid spread of bird flu to migratory birds and mammals is the result of gain-of-function research and a lab leak. A set-up that looks eerily to COVID-19.
Third, Dr. McCullough rightly points out that the fearmongering around the bird flu promoted by the mainstream media is to facilitate mass vaccination of animals and humans, which will line the pockets of Big Pharma and their NGO backers.
The lessons we should have learned
First, it’s entirely possible that they can and will use this as another two-year power grab. It’s another election year, and it almost feels like deja vu, watching the MSM wax fearful over this virus. But if we are aware, we’re able to mitigate some of the damage.
Financial problems
Of course, we can’t do much about the overall damage to the economy. We can only prepare ourselves for it with supplies, savings, and other preps. By this, I mean general prepping and being ready for economic hard times.
“New” vaccines
We have seen how badly the last vaccine turned out for many people. Young, otherwise healthy athletes dropping dead on the playing field. People confined to wheelchairs. Others living through a disabling brain fog. Some people got through it fine, while for others it was completely devastating. We’d do well to remember this in case of another speedy-to-market vaccine.
Inability to get the medication that works
We learned that when Big Pharma has an agenda, we may lose access to the medications we need. They all but outlawed ivermectin during Covid, and even people who got prescriptions found that pharmacies were unwilling to fill them. The Wellness Company has a Contagion Emergency Kit that contains the necessary prescription meds to treat all types of viral illnesses. It contains Ivermectin, Hydroxychloroquine, Azithromycin (generic Z-Pak™), Oseltamivir (generic Tamiflu™) and Budesonide along with a nebulizer. Interestingly, these were the meds and treatments I was given in Mexico when I got Covid there.
I have these kits on hand for every member of my family, because I’m not going to risk being at the mercy of Big Pharma in the future.
Food prices going up
If you think food prices went crazy last time, just wait until this time around. We’re already seeing livestock being pre-emptively killed, which will make meat and poultry prices skyrocket. But will this work to help “stop the bird flu?”
Dr. McCullough says no. He believes that the mass destruction of livestock to “eradicate” the virus is “futile” and will only work to harm our food supply – not end the spread of bird flu.
This is a place where preppers excel – stocking up on food and developing as much food independence as possible. This book is a physical copy of 12 years worth of OP articles on food storage, production, acquisition, and preservation.
Mental preparedness
Perhaps the most important thing in the upcoming bird flu scare is your mental preparedness. If you panic, you tend to lose your reasoning skills. If you can remain calm and centered, then you will get through the times ahead with much more clarity of thought. And that’s absolutely essential when trying to sift through the lies to get to the truth.
We’ve watched this before.
I don’t want to downplay the seriousness of these illnesses for some folks. I know that many question whether Covid even exists. I believe it does and I believe that the bird flu does too. I also believe that these things are being tampered with to make them even more deadly. Only if the populace sees dramatic images that fill them with fear will they be easily herded toward even more draconian regulations.
Don’t let your knowledge of how deceptive they were in the past allow you to become complacent. Don’t immediately brush off all fears to the point that you take no precautions. It’s important to figure out exactly what we’re dealing with first. If another pandemic conveniently comes along, you can bet it will have been made more deadly. It would have to be even scarier than Covid to convince people to go along with this stuff again.
WORLD EVENTS NOTEWORTHY
END
WORLD HEALTH ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
Outrageous congressman Democrat Jamie Raskin is questioning the Secret Service (SS) director Director Cheatle & trying to make the assassination attempt on Trump one of ‘gun control’ & not about a
political hit job, an assassination attempt on Trump…it is fascinating how these political dimwits do this, in your face; no one today is discussing ‘gun control’, we are talking about FAILURE of SS
| DR. PAUL ALEXANDERJUL 22 |
failure to protect POTUS Trump, their failures…I sense in the first 5 minutes of the dog and pony hearing that this is and will be bullshit again and a dog and pony show…
one thing is good though that the SS Director said that the assassination attempt on Trump para ‘is the most devastating failure of the SS in American history’…I give her props for this and she then admitted that the SS failed.
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.
OK, we like that, I like her words, but we want to see who is held accountable…this is not the usual ‘oh I was wrong’ but no one pays a price. We want to see heads roll. Do not change this to gun control and AR-15s. This is about an assassination and the pure failure of SS and we wat to know was this deliberate…that is the key issue. Was Trump allowed to be exposed? Was this deliberate. I will give the SS Director space to respond in her hearing before my own opinion as one person for as it seems today, the SS failed and in their failure, caused Trump to be nearly killed.
I admire and respect the SS. The agency is critical. But we have seen across America that many agencies have become political pawns and footballs. SS cannot be one of these. It must be unbiased and have zero room for error.
SS Director did not answer the first question about if there was an agent on top the roof…she then said the shooter building was outside the security perimeter…this IMO seems wrong and needs to be responded to…as to the slant and heat that day…she stated there was a plan to provide ‘overwatch’ but we know that was a breach…
I really do not know what they had this hearing for all she is saying is para ‘I cannot answer that question now as this is an ongoing investigation…I am not going to get into specifics’…
this dog and pony show is ongoing but first 15 minutes of the hearing tells me this is bullshit.
end
The Operation Warp Speed (OWS) lockdown lunatic COVID pandemic response headed by US Task Force & copied by Canada et al. worked to shift burden of morbidity & mortality to the poorer in society
Wealth was differentially transferred from poor & middle class to already rich, cafe latte, laptop class & socioeconomic disparities were devastating. Luc Lelievre; the American University Madrasa
| DR. PAUL ALEXANDERJUL 23 |
What OWS did to Americans was monstrous. From the military type ‘countermeasures’, the lockdown lunacy where today we have Redfield, Fauci, Francis Collins et al. singing loudly that all of it was failed and basically a lie. Just listen to Fauci on the fraud ‘made up’ 6-foot social distancing rule that ransacked whole societies and destroyed businesses and lives. We cannot let it go unpunished. We cannot let those involved in the mRNA technology and vaccine go unexamined and if shown killed people, then punished fully. Put a pin in that for a moment.
The American University today and for the last 50 years and especially the Ivy league Yales, Harvards, McGills, Princetons, Stanfords, Dukes etc. have operated as academic Madrasas for North America…and I am not relegating all islamic Madrasas as preaching hate and terror, no, many do preach and teach peace…I refer to the ones preaching radicalization and hate and terror and one may argue today that the American University and especially the Ivy University, is a breeding ground for emotional and psychological and taught academic terror, and is akin to radical Madrasas…when you think of what they impose of your child when they enter.
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.
This substack on Heresy, Interview with Luc Lelievre is well written and staggering and worth the read. Please share. Please support Lies are Unbekoming.
Start here:
‘Universities haven’t been truth seeking, nor truth making, for a long time.
In fact, much of what they produce today is an inversion. It’s the opposite of truth.
The “objective” sciences thought they were safe from the distortions in the “humanities”; they weren’t.
In June 2022 I wrote:
What is a woman? – “We don’t know yet.” Part 1
The right way to think about the American University is as a generator and propagator of these ideas in the way that you already think about The Madrassa as a potentially indoctrinating breeding ground for Islamic Extremism.
There is no easy way to say this but Yale, Stanford Harvard and a long list of other “prestigious” universities have become (or at the most generous “include”) Madrassas of dangerous indoctrination pumping out brainwashed graduates that are disconnected from what is true and disconnected from reality…they have “their” reality, “their” truth.
What comes out of the American Madrassa gets exported to the rest of the world…
If an organization regularly and reliably pumps out ideological extremism that terrorizes society, what should we call that organization?
If its ideas lead to the theft of wealth, health and well-being of society, can we not call those ideas terrorizing?
I personally see them as religious, faith-based organizations.
You can commit heresy within them in all manner of ways and across all manner of subjects.
With thanks to Luc Lelievre for sharing his story with us.
SLAY NEWS
| The latest reports from Slay News |
| Harvard Researchers Link Covid Shots to Sudden Deaths SurgeA group of leading researchers from America’s world-renowned Harvard Medical School has uncovered damning links between Covid mRNA shots and the global surge in cases of strokes and sudden deaths.READ MORE |
| WEF Pushes ‘Digital IDs’ for ‘Every Citizen’Unelected globalists at the World Economic Forum (WEF) are calling on governments to usher in “digital IDs” for members of the general public.READ MORE |
| Kamala Harris’ Presidential Campaign Rakes in $50 Million Following Biden EndorsementDemocrat Vice President Kamala Harris has reportedly raked in a whopping $50 million in donations within hours of launching her presidential campaign.READ MORE |
| Colorado Election Official Accused of Leaking Voting Machine Passwords Requests Supreme Court Injunction to Stop TrialA former Colorado election official has called the United States Supreme Court to step in and issue an emergency intervention to stop her trial for allegedly leaking voting machine passwords.READ MORE |
| Elizabeth Warren: Kamala Harris Is ‘Ready to Step Up’ to Replace Biden on 2024 TicketFollowing Democrat President Joe Biden’s announcement that he’s dropping out of the 2024 presidential race, speculation is swirling about who will replace him.READ MORE |
| Secret Service Repeatedly Denied Trump’s Requests for Additional Security ResourcesAlarming details are emerging about decisions made by top officials at the agency responsible for President Donald Trump’s safety in the run-up to the assassination attempt on the 45th POTUS.READ MORE |
| Obama-Appointed Federal Judge Tosses GOP-Led Lawsuit Challenging Nevada’s Mail-In Ballot-Counting LawsAcross the country, Republican groups have been challenging mail-in voting laws in an effort to secure America’s elections.READ MORE |
| Clintons Have Been Urging Donors to Keep Giving to Biden CampaignBill and Hillary Clinton have reportedly been urging Democrat donors to keep giving to President Joe Biden’s re-election campaign, even as it became obvious he was going to drop out of the race.READ MORE |
| Obama Does Not Endorse Kamala Harris after Biden Drops OutBarack and Michelle Obama have ignited a flurry of speculation with their statement responding to Democrat President Joe Biden ending his re-election campaign.READ MORE |
| BREAKING: Biden Quits Presidential RaceAs Slay News had predicted, Democrat President Joe Biden has just quit the 2024 presidential race.READ MORE |
| The latest reports from Slay News |
EVOL NEWS
NEWS ADDICTS
| ecret Service Chief Put Trump in Danger to Help ‘Good Friend’ Biden, Insiders RevealWhistleblowers have come forward with explosive new information regarding the assassination attempt against President Donald Trump.READ THE FULL REPORT |
| Sarah Huckabee Sanders Demands Biden Resign ImmediatelyIn a recent post on social media, Arkansas Republican Governor Sarah Huckabee Sanders has called for President Joe Biden to resign from office, citing his recent decision to withdraw from the 2024 presidential race.READ THE FULL REPORT |
| Leo Terrell Slams Biden as ‘Racist’ for Endorsing Kamala Harris as ReplacementIn a surprising turn of events, President Joe Biden has announced that he will not be seeking reelection in 2024 and has instead endorsed Vice President Kamala Harris as the Democratic nominee for the upcoming presidential race.READ THE FULL REPORT |
| Elon Musk Said He Expected Biden to Drop Out: ‘Powers That Be’ Need a New ‘Puppet’ Because ‘They Fear Trump’Elon Musk just responded to Joe Biden announcing he won’t run against President Donald Trump again.READ THE FULL REPORT |
| Biden Drops Out of 2024 Presidential Race against TrumpIn a surprising turn of events, President Joe Biden has announced his decision to drop out of the 2024 presidential race.READ THE FULL REPORT |
LATEST REPORTS FOR NEWS JUNKIES
| LATEST REPORTS FOR NEWS JUNKIES Mystery Stranger Frequently Visited Thomas Matthew Crooks at Home and Work Before His Attempted Assassination of TrumpWho visited Thomas Matthew Crooks’ home before he tried to murder President Donald Trump?READ THE FULL REPORTJD Vance: ‘Trump and I Ready Whoever Democrats Nominate as President/VP — We Are Going to Push Back on Democratic Craziness’Senator JD Vance (R-OH), the GOP vice presidential nominee, told Breitbart News on Monday that he and former President Donald Trump are prepared to face any Democrat candidate.READ THE FULL REPORTKamala’s Former Lover Claims Biden Should Make Her Commander-In-Chief ImmediatelyVice President Kamala Harris’ former partner has an interesting proposal.READ THE FULL REPORTBiden Fears That Kamala Harris Has Very Low Chances of Beating TrumpPresident Joe Biden “doubted” Vice President Kamala Harris’s ability to defeat former President Donald Trump before he decided to step aside on Sunday, according to three Biden aides familiar with recent discussions about his plans, as reported by Axios.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
What Can Be, Unburdened By What Has-Beens?
TUESDAY, JUL 23, 2024 – 10:20 AM
By Michael Every of Rabobank
Global IT systems crashed on Friday. Two days later, a week after the attempted assassination of former President Trump, President Biden crashed. It seems full steam ahead for Kamala Harris, so far. Elsewhere, Israel destroyed the Houthis’ port and oil storage, yet Russia may now arm them, all risking wider Mid-East war; as ‘China and Russia are breaking the world into pieces’, says Hal Brands, as “Global governance and problem-solving increasingly look like artifacts of a happier age. International violence is intensifying, as the risk of major war –even global war– ticks higher. US power still looms large, but America’s behaviour grows more erratic as its politics become less stable.” Indeed, 80 years ago last weekend, at Bretton Woods, the world set up a (gold) US dollar-centric economic architecture, which we all live with today (absent gold). Now, concerns are it will face a blue screen of death: and neither IT systems, nor US politics, geopolitics, nor the global economy can be easily re-set by turning them off then back on again.
Indeed, *what* a mess the West is in. Inflation is lower – but still too high in key areas. Real GDP per capita has flat-lined or fallen for years–and median GDP is worse. Housing is ever less affordable in many places – but making it cheaper slows ‘growth’. Ageing populations mean poorer health, at huge cost, and labor and skills shortages – yet there is less appetite for mass immigration. Debt is too high everywhere even as we pay more tax. We are deindustrialising. Energy costs are too high – yet we need to make a green transition that will cost trillions. Defense spending must soar – but there’s no money, no supply chains, nor young people to fight for their country. China dominates global production – everyone else wants to reclaim it. War rages on several fronts – everyone fears more. Far right and far left voices are loud as polarisation increases. Europe is unable to move forwards; and conspiracy theories are clotting round the assassination attempt on one 78-year old US presidential candidate, and what some see as a possible ‘palace coup’ against the 81-year old other, who is still the leader of the free world.
As historian Niall Ferguson just put it, “We’re all Soviets now.” I made the same point years ago, arguing neoliberal ideology guaranteed economic failure, then socio-political and geopolitical chaos; yet we remained wedded to it because we refused to embrace the political-economy changes required, the same way the late Soviet bloc knew it was failing, but just built new statues of Marx or Lenin and hoped something would turn up. Until Gorbachev did.
Today, it’s the West which needs reform and openness about what that pain will have to mean. As Brands puts it:
“The battle of ideas is on again. Russia and China didn’t get the memo about the irresistible triumph of democracy. They are rewiring international norms and organizations to make autocracies more secure. They believe their illiberal systems can produce greater discipline, effort and strength than decadent democracies.”
On that side, Bloomberg notes, ‘Xi Cements Role as ‘Chief Economist’, Shrinking Space for Debate’, underlining that Beijing sees the pro-market actions of the past as responsible for many of China’s current weaknesses. Elsewhere, @henrysgao argues the CCP’s 3rd Plenum language on “the dominant position of public ownership” suggests a mixed-ownership economy ahead – meaning private capital following state goals. The Plenum certainly recognized affordable housing, state built and owned, as needed; and it clearly has no issue with deflation if it means lower prices – and more Chinese exports to the world. The irrelevant 10bp PBOC rate cut this week will help CNY weaken, so exports grow, but won’t boost domestic demand.
On the other side, what can the West now be starting from here? Is it already a has-been? In answering, it’s important to know we’ve been here before. There is the now-common Cold War analogy, for one. Yet there is also the comparison with the problematic period after the official Bretton Woods system collapsed in the early 70s, Middle East and South-East Asia wars raged, then inflation was unleashed. In 1978, ex-Soviet dissident Solzhenitsyn, noted in ‘A World Split Apart’:
“The anguish of a divided world gave birth to the theory of convergence between the leading Western countries and the Soviet Union. It is a soothing theory which overlooks the fact that these worlds are not at all evolving toward each other and that neither one can be transformed into the other without violence…
The Western world has lost its civic courage, both as a whole and separately, in each country, in each government, in each political party, and, of course, in the UN. Such a decline in courage is particularly noticeable among the ruling and intellectual elites…
It has become possible to raise young people.., preparing them for and summoning them toward physical bloom, happiness, the possession of material goods, money, and leisure, toward an almost unlimited freedom in the choice of pleasures. So, who should now renounce all this, why and for the sake of what should one risk one’s precious life in defence of the common good and particularly in the nebulous case when the security of one’s nation must be defended in an as-yet distant land?
…a society without any objective legal scale is a terrible one indeed. But a society with no other scale but the legal one is also less than worthy of man… And it will be simply impossible to bear up to the trials of this threatening century with nothing but the supports of a legalistic structure.
Today’s Western society has revealed the inequality between the freedom for good deeds and the freedom for evil deeds. A statesman who wants to achieve something important and highly constructive for his country has to move cautiously and even timidly… Thus mediocrity triumphs under the guise of democratic restraints… Society has turned out to have scarce defence against the abyss of human decadence… The culprit can go unpunished or obtain undeserved leniency – all with the support of thousands of defenders in the society. When a government earnestly undertakes to root out terrorism, public opinion immediately accuses it of violating the terrorists’ civil rights.
The press, too, of course, enjoys the widest freedom… Because instant and credible information is required, it becomes necessary to resort to guesswork, rumours, and suppositions to fill in the voids, and none of them will ever be refuted; they settle into the readers’ memory.
Without any censorship in the West, fashionable trends of thought and ideas are fastidiously separated from those that are not fashionable, and the latter, without ever being forbidden, have little chance of finding their way into periodicals or books or being heard in colleges…
It is almost universally recognized that the West shows all the world the way to successful economic development, even though in past years it has been sharply offset by chaotic inflation. However, many people living in the West are dissatisfied with their own society. They despise it or accuse it of no longer being up to the level of maturity attained by mankind…
Some people sincerely wanted all wars to stop just as soon as possible… But if the full might of America suffered a full-fledged defeat at the hands of a small Communist half-country, how can the West hope to stand firm in the future? …In the 20th century Western democracy has not won any major war by itself; each time it shielded itself with an ally possessing a powerful land army, whose philosophy it did not question…One must be blind in order not to see that the oceans no longer belong to the West, while the land under its domination keeps shrinking… The West kept advancing steadily in accordance with its proclaimed social intentions, hand in hand with a dazzling progress in technology. And, all of a sudden, it found itself in its present state of weakness.”
I won’t apologize for the lengthy quotes because they are such an eerily familiar litany of woes. Yet within just a few years the US had leaped, and borrowed its way, into the dayglo, ‘Top Gun’ 1980s – and by the end of that decade, decisively won the Cold War.
The problem is that there can’t be any easy repeat of that formula now. More freedom isn’t the solution. Lower taxes, alone, aren’t the solution. More state spending, alone, isn’t the solution. Lower rates, alone, aren’t any solution. The old playbook simply won’t work vs. a ‘USSR’ that makes everything that the West consumes. Such ideas are all has-beens.
So are many of the easy alternatives, i.e., higher taxes, less state spending, and higher rates – alone. As a result, things will have to change.
Indeed, in ‘Trump and Gorbachev’, inequality expert Branko Milanovic draws a structuralist comparison between the Soviet leader who ended up destroying the USSR and Warsaw Pact, and billionaire Trump. Gorbachev sat at the head of a Soviet hierarchy where nobody could resist him when he started to dismantle the pillars that held up communism. He parallels that with the post-1945 architecture –WTO, IMF, NATO, EU, etc.– which Trump will undermine to cement US power. (However, there is clearly lots of opposition to Trump fighting tooth, nail, and bullet, albeit often then following his policy lead on China and trade.)
His conclusion is that even if the Western elite are as at a loss as those of the East were 30+ years ago (and they themselves were before 40+ years ago), Western democracies, unlike Soviet one-party states, are flexible enough to pivot when needed.
Reassuringly, Milankovic adds, “Trump will not, I think, destroy some essential structures of the Western system as it was built after WW2, but he might, with his rough, chaotic and unpredictable government, scare the ruling elites in the West, encourage “revisionists”, and bring about changes that will alter the world as it was created in Yalta and Potsdam. Trump is unlikely to create a new structure, but he can break parts of the old one. If he does that, he might usher in a post-Cold War era, and close the book on 1945. But note that the Cold War had one good feature: it was “Cold”.”
I have also referred to Potsdam and Yalta in the past few weeks, which underlines how extremely large the policy pivots we may yet see are. Indeed, the key questions are this:
- Is it to be one world economy or blocs? Which blocs, if so? Can we choose which we are in? Trading with others how?
- Will the US dollar be globally dominant?
- Will US Treasuries be globally dominant? This is not necessarily the same as the dollar!
- What energy policy will be used?
- Only then do we get to monetary and fiscal (and industrial, trade, housing, transport, labour, and defence) policies each bloc will use – but they will have to work in sympathy with the above, not in the opposite direction.
In short, potential ‘Trump’ or ‘Harris’ trades should start with the questions above and work their way down to imagine what can be, unburdened by *what* has-beens.
For those who want a deeper overview of this theme, and what it means, see what I wrote in ‘The Great Game of Global Trade’ in January 2017, which is still relevant in July 2024. (Though critics would then add. ‘You mean you got the timing wrong!’)
7.OIL PRICES/GAS PRICES/OIL ISSUES
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
huge story!! Canada has a major problem with liquidity has banks will not accept other banks collateral
(Jensen)
Bank of Canada Restarts Overnight Repo Market Liquidity Injection Signaling Financial System Liquidity Issues
BoC Engages in Pushmi-Pullyu Monetary Operations
JUL 23, 2024
The Bank of Canada has restarted its overnight liquidity injections signaling the financial system requires additional capital to maintain interest rates at the 4.75% BoC target rate.
The BoC started Repo Operations with overnight cash injections of CAD $9.24B on July 17, 2024 that have now escalated to $16B on July 23.
At the same time that the BoC central bankers are injecting cash liquidity through the Repo facility, they are removing liquidity through their Quantitative Tightening (QT) program.
The BoC is pushing and pulling on the same liquidity rope.
Bank of Canada Overnight Repo Operations – source: Bank of Canada
The ability of the BoC to blow a series of escalating asset bubbles over decades with secularly declining rates followed by Quantitative Easing purchases of market assets to maintain inflated asset values appears to have reached an impasse.
The BoC has signaled that they need to tighten with QT while the easy-money dependent financial system that the BoC has built has now forced the BoC to simultaneously loosen with resumed Repo cash injections.
Of note, the last time the BoC engaged in overnight Repo Operations was at year-end 2023 and January 2024 to allow the banks to window-dress their annual financial statements.
This Repo Operation occurs in July during what is supposed to be a comparatively slow financial period.
The BoC’s interest rate policy statement on July 24 will make very interesting reading.
Gold and silver bullion are assets that are no one else’s liablity.
Best regards,
David Jensen
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0863 DOWN .0027
USA/ YEN 156.16 DOWN 0.744 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//
GBP/USA 1.2906 DOWN 0.0025
USA/CAN DOLLAR: 1.3759 DOWN .0002 (CDN DOLLAR UP 2 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 49.85 PTS OR 1.65%
Hang Seng CLOSED UP 218.20 PTS OR 1.25%
AUSTRALIA CLOSED UP .52%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 166.52 PTS OR 0.94 %
/SHANGHAI CLOSED DOWN 48.85 PTS OR 1.65%
AUSTRALIA BOURSE CLOSED UP .52%
(Nikkei (Japan) CLOSED DOWN 4.61 PTS OR 0.01%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2407,05
silver:$29.06
USA dollar index early TUESDAY morning: 104.15 UP 11 BASIS POINTS FROM MONDAY’s CLOSE.
TUESDAY MORNING NUMBERS ENDS
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And now your closing TUESDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.048% DOWN 1 in basis point(s) yield
JAPANESE BOND YIELD: +1.064% UP 0 AND 5/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.220 DOWN 1 in basis points yield
ITALIAN 10 YR BOND YIELD 3.753 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.4365 DOWN 3 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR TUESDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0851 DOWN 0.0038 OR 38 basis points
USA/Japan: 156.08 DOWN 0.814 OR YEN IS UP 82 BASIS PTS
Great Britain 10 YR RATE 4.1750 UP 1/2 BASIS POINTS //
Canadian dollar DOWN .0008 OR 8 BASIS pts to 1.3770
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2748 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2904)
TURKISH LIRA: 32.84 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +1.064…
Your closing 10 yr US bond yield DOWN 3 in basis points from MONDAY at 4.227% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.4510 DOWN 3 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.489 DOWN 4 BASIS PTS.
GOLD AT 11;30 AM 2405.25
SILVER AT 11;30: 29.13
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 31.41 PTS OR 0.38%
German Dax : CLOSED UP 150.63 PTS OR 0.62%
Paris CAC CLOSED DOWN 23,39 PTS OR 0.31 %
Spain IBEX CLOSED UP 68.90 OR 0.62%
Italian MIB: CLOSED UP 22.70 PTS OR 0.07% PTS
WTI Oil price 77.27 12EST/
Brent Oil: 81.52 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 87.18 ROUBLE UP 0 AND 67/100
GERMAN 10 YR BOND YIELD; +2.4365 DOWN 3 BASIS PTS.
UK 10 YR YIELD: 4.1750 UP 1/2 BASIS POINTS
CDN 10 YEAR RATE: 3.415 UP 0 BASIS PTS.
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0849 DOWN 0.0039 OR 39 BASIS POINTS
British Pound: 1.2901 DOWN 0.0030 OR 30 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.127 DOWN 9 BASIS PTS//
JAPAN 10 YR YIELD: 1.063
USA dollar vs Japanese Yen: 155.63 DOWN 1.275 YEN UP 128 BASIS PTS//
USA dollar vs Canadian dollar: 1.3773 UP 0.0012//CDN dollar DOWN 12 BASIS PTS
West Texas intermediate oil: 77.34
Brent OIL: 81.58
USA 10 yr bond yield DOWN 1 BASIS pts to 4.248
USA 30 yr bond yield DOWN 0 BASIS PTS to 4.476%
USA 2 YR BOND: UP 2 PTS AT 4.523
CDN 10 YR RATE 3.422 DOWN 4 BASIS PTS
USA dollar index: 104.18 UP 15 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32.82 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 87.85 UP 0 AND 0/100 roubles
GOLD 2,407.60 3:30 PM
SILVER: 29.24 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 57,68 PTS OR 0.14%
NASDAQ DOWN 68.53 PTS OR 0.35 %
VOLATILITY INDEX: 14.65 DOWN 0.26 PTS OR 1.74%
GLD: $222.59 UP .99 OR 0.56%
SLV/ $26.67 UP .04 OR 0.15%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM:
Small Caps Surge On Short-Squeeze, Sloppy-Surveys; ETH Outperforms BTC As ETFs Launch
TUESDAY, JUL 23, 2024 – 04:00 PM
An ugly day for macro with hard data (US home sales) and soft data (regional Fed surveys) all puking…
Source: Bloomberg
…was just the bad news needed to spark good news in STIRs as rate-cut expectations rebounded…
Source: Bloomberg
After yesterday’s big exciting “everything’s awesome” day, stocks, broadly-speaking did nothing today though as only Small Caps showed any willingness to move. Late-day selling pressure did not help, pulling everything but Small Caps into the red with Nasdaq the biggest loser…
…but that looked like yet another big short-squeeze….
Source: Bloomberg
The NDX/RTY unwind resumed today…
Source: Bloomberg
MAG7 stocks went nowhere ahead of GOOGL/TSLA earnings after the bell…
Source: Bloomberg
Treasuries were mixed today with the short-end outperforming…
Source: Bloomberg
…which dragged the yield curve (2s30s) almost to being dis-inverted….
Source: Bloomberg
Ethereum outperformed Bitcoin on the day as ETH ETFs were launched…
Source: Bloomberg
This followed a huge net inflow day yesterday into BTC ETFs…
Source: Bloomberg
Bitcoin was 3% lower back to $66k…
Source: Bloomberg
…as ETH ETF $ Volume soared to $1BN…
Source: Bloomberg
…which kept ETH around $3500 by the close…
Source: Bloomberg
Gold managed modest gains on the day, finding support at $2400…
Source: Bloomberg
Crude prices extended losses as CTAs pressed through technical levels but WTI found support at $76.69 intraday (its 200DMA) and bounced modestly…
Source: Bloomberg
Finally, prediction markets have Trump still dominating Harris for the win in November…
Source: Bloomberg
…for now she remains below Biden’s pre-debate levels.
MORNING TRADING/
AFTERNOON TRADING///
II USA DATA
US Existing Home Sales Puked (Again) In July…
TUESDAY, JUL 23, 2024 – 10:11 AM
US existing home sales slumped for the fourth straight month in June, plunging a worse than expected 5.4% MoM (the worst MoM drop since Nov 2022) and dragging sales down 5.4% YoY…
Source: Bloomberg
Notably, existing home sales have not risen on a YoY basis since July 2021, with the SAAR total back below 4mm, near COVID lockdown lows…
Source: Bloomberg
The only segment of the market that saw sales rise the $1 million-plus cohort – which saw sales rise 3.6% YoY…
Source: Bloomberg
Meanwhile, the median home price rose 4.1% from last year to $426,900…
Source: Bloomberg
That’s a new record high median price for existing homes in the US… and once again above the median price for a new home…
Source: Bloomberg
…so much for the hopes of a rate cut?
END
Seems yields are about to fall!
(zerohedge)
Blowout 2Y Auction Sees Record Foreign Buyers, Yields Slide
TUESDAY, JUL 23, 2024 – 01:19 PM
Ahead of next week’s FOMC meeting, when consensus expects no surprises from Powell ahead of a September rate cut, the same can not be said for today’s first of the week coupon auction, when demand for $69BN in 2Y notes (with 5Y and 7Y auctions on deck) was off the charts.
Starting at the top, the high yield printed at 4.434%, down 27.2bps from 4.706% last month, the lowest since January, and stopped through the 4.457% When Issued by a whopping 2.3bps, the second highest stop through on record (only March 2023 was higher)!
The Bid to Cover was 2.814, above last month’s 2.751 and the highest since Aug 23 (and obviously above the six-auction average of 2.58).
However, the internals were truly spectacular, with Indirects taking down an unprecedented 76.6%, up from 65.6% in June and the highest on record!
And with Directs awarded 14.4%, the lowest since Jan 22, Dealers were left holding just 9.0% of the auction, the lowest on record.
Bottom line: the market, and especially foreign official entities, are piling into the short end ahead of next week’s FOMC decision in record amount, almost as if someone knows that contrary to expectations for no rate cut, Jerome Powell may actually surprise everyone next week. There were no surprises, however, in terms of the market reaction: yields tumbled after the stellar auction, with 10Y yields also tumbling to session lows.
…
III USA ECONOMIC COMMENTARIES
Harris is down 9 points right off the gate
(zerohedge)
Stumbling Out Of The Gate: Harris Starts Race Down 9 Points, Even Worse Than Biden
TUESDAY, JUL 23, 2024 – 08:50 AM
Democrats’ enjoyment of the Kamala Harris campaign’s “new car smell” may prove short-lived, as a brand new poll shows the vice president trailing former President Trump by a whopping 11 points among likely voters — matching up even worse than President Biden, who trailed by 10.
The Forbes/HarrisX survey was conducted July 19-21 — that’s after the Republican convention but before Biden was forced to withdraw from the race.
“Kamala Harris starts her 2024 battle behind Trump, who is enjoying a strong post-convention bump,” said HarrisX chief pollster Dritan Nesho.
“If the polls don’t start to close and show better traction for her, Biden’s decision to step aside for Harris may be a case of ‘too similar, too late.’ That said, Vice President Harris alleviates concerns among the democratic base and is better able to sway undecided independents and suburban women, showing some promise.”
In an ominous note for the Harris campaign, aside from her worse margin against Trump, in her head-to-head matchup, fewer voters were undecided than they were in a Biden-Trump scenario. Among likely voters, Trump led Biden 49%-39% with 12% undecided. However, versus Harris, Trump led 51%-40%, with 9% undecided.
“Democrats are jumping out of the frying pan into the fire,” Trump campaign senior advisor Jason Miller told Fox News. “They may have gotten rid of one problem with Joe Biden, but they’ve inherited a whole new problem with Kamala Harris.”
Continuing a well-established trend, Harris’s job-approval rating is as bad as Biden’s: both scored a dismal 38% approval. She did a little better than Biden among younger voters, with 42% of those between age 18 and 34 approving of her performance, compared to 36% for Biden.
So far, there are few single-state polls gauging a Trump-Harris contest, and none that were taken since she became the presumptive nominee. While the numbers are bound to change after Americans are subjected to a Harris-friendly media blitz, they still give some insight into where she’s starting from:
- An Atlanta-Journal Constitution poll has Trump winning Georgia by 4.6% over Harris, compared to 3.5% over Biden.
- In a result that shows Democrats clearly on the defensive on the 2024 chessboard, a New Hampshire Journal poll has Trump up 0.9% in Granite State — where the GOP hasn’t won in 24 years.
- In a glimmer of hope for Democrats, Harris is doing better than Biden in Pennsylvania, but still trails Trump in the pivotal state by 2%.
- Conversely, Harris is polling worse than Biden in Nevada, losing to Trump by 10%.
The results are sure to grind the gears of the many Democratic mega-donors who favored a “mini-primary” to select Biden’s replacement atop the 2024 ticket, rather than simply coronating Harris, a demonstrably terrible candidate who didn’t even make it to the Iowa caucuses in 2020.
END
Huge sign that the economy is faltering badly.
(Mish Shedlock)
Signs Of Severe Credit-Card And Auto-Loan Stress In Generation Z
TUESDAY, JUL 23, 2024 – 01:45 PM
Authored by Mike Shedlock via MishTalk.com,
The economy is slowing and that will hit the zoomers first and the hardest, especially renters…
Shaky Ground
The idea for this post comes from the Wall Street Journal article American Borrowers Are on Shakier Ground.
Years of higher inflation and interest rates have left consumers mired in debt, even as overall economy hums.
I dispute the Journal’s statement the “overall economy hums”.
If the economy was humming we would not see charts like I am about to present.
Unexpected Expenses
That chart is from the Federal Reserve Report on the Economic Well-Being of U.S. Households
The report was updated May 21, 2024 but it it only through 2023. Zoomers and younger Millennials are in trouble.
Rot Starts at the Periphery
The Wall Street Journal comments Big Banks and Customers Continue to Feel Pressure From Higher Rates
JPMorgan’s second-quarter profit declined 9% year-over-year to $13.1 billion. That figure excludes one-time items, including a $7.9 billion gain on an exchange of the bank’s shares of Visa.
Credit-card loans rose faster than spending at all three banks, a sign that more borrowers carried over balances month to month.
“When you really dig into what’s happening across different consumers, the folks on the lower end of the wealth or income spectrum are struggling more,” Wells Fargo Chief Financial Officer Mike Santomassimo said on a call with reporters.
JPMorgan’s credit-card arm—the biggest in the country—said charge-offs on loans rose by nearly two-thirds from a year earlier. The rise in part reflected a normalization from years of historically low levels, Chief Financial Officer Jeremy Barnum told reporter
JPMorgan CEO Jamie Dimon repeated his view that interest rates could wind up staying higher than some economists have forecast.
“Market valuations and credit spreads seem to reflect a rather benign economic outlook,” he said in prepared remarks. “But there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world.”
Auto Loans Plunging
The above chart and the next few are from the New York Fed Household Debt and Credit Report for 2024 Q1.
Are auto loans a sign of a humming economy? I think not.
Transition into Serious 90+ Auto New York Fed Quarterly Report
Transition into Serious 90+ Credit Cards New York Fed Quarterly Report
Maxed Out Borrowers
If you have maxed out your credit card there is about a 33 percent chance you are delinquent.
Who might that be?
Maxed Out Credit Card Users
The preceding two charts are from the New York Fed report Delinquency Is Increasingly in the Cards for Maxed‑Out Borrowers
Notably Gen Z has the highest delinquency transition rate, but Millennials were the only group whose delinquency exceeded their pre-pandemic rate.
Let’s return to the first chart, repeated for convenience.
Percentage of Consumers with Unpaid Bills by Homeownership Status
Over 25 percent of those who rent have unpaid bills! Over 10 percent have not paid their water, gas, or electric bills.
This isn’t humming. It’s the verge of disaster. And I have been talking about this setup all year.
April 20: People Who Rent Will Decide the 2024 Presidential Election
May 31: Why Consumers Are Angry About the Economy in Five Pictures
June 19: Why Angry Renters Will Decide the Election, Take II
July 5: The Unemployment Rate Bottomed a Year Ago, Who’s Impacted the Most?
Generational Homeownership Rates
Home ownership rates courtesy of Apartment List
The Fed does not see this freight train coming even though it is standing in the middle or the track facing the oncoming train. This is despite nearly all of the charts in this post are from Fed reports.
And most economists are as blind as the Fed.
Unemployment Rate by Age Group
Candidate Preference by Age Group
An amazing 41 percent of those 18-34 are for Trump with only 30 percent for Biden.
That’s an unprecedented 11 percentage point gap for Republicans. In 2020 this age group voted overwhelmingly for Biden.
I discussed the above poll and also candidate preference by race in Post-Debate USA Today-Suffolk Poll Has Grim News for President Biden
Please click on link for 11 charts.
So who are the renters that will decide the election?
Zoomers, millennials, and black renters. They are priced out of a home while watching rent go up at least 0.4 percent every month for 33 months. That string finally snapped in June with a 0.3 percent rise.
Biden Seeks Rent Controls
On July 17, I noted Biden Seeks Supreme Court Term Limits, Medical Debt Cancellation, Rent Controls
Sorry Joe, it’s too late. You are gone and a recession has started, not that rent controls had a chance. They are a terrible idea anyway, but desperation set in.
A recession coupled with a weakening economy for the next three months is hard to overcome, especially given Kamala’s political baggage.
On July 8, I commented Weak Data Says a Recession Has Already Started, Let’s Now Discuss When
Since then, more weak data hit the fan.
I tie the economic picture together in Three Top Reasons Mortgage Delinquencies Are Rising
Rot starts at the periphery then spreads to the core. Panic is coming.
END
Trump asks New York appeals court to overturn $454 million civil fraud judgment
(zerohedge)
Trump Asks Appeals Court To Overturn $454 Million Civil Fraud Judgment
TUESDAY, JUL 23, 2024 – 03:05 PM
Authored by Jack Phillips via The Epoch Times,
Lawyers for former President Donald Trump on July 22 asked a New York appeals court to overturn the $454 million New York civil fraud judgment that was handed down earlier this year.
In court papers filed with First Department of the State Supreme Court’s Appellate Division, the state’s mid-level court, his lawyers wrote that Manhattan Judge Arthur Engoron’s Feb. 16 finding, that claimed former President Trump made false statements to insurers, banks, and other entities about his wealth, was incorrect.
“Based on the ruling in this case, no company will want to come to New York to do business, and many businesses are fleeing,” his attorneys wrote.
“The economic aspects of this decision are a disaster for New York.“ The New York Attorney General’s office ”has used the statute in a way never seen before,” they added.
The lawyers said “there were no victims and no losses,” adding that the former president’s business partners “raved internally about their business with him and were eager for more.”
In their appeal, they contended that the judge made an “erroneous” decision and, during the case, “struggled to understand basic banking concepts” before he handed down the fine. They further said that he erred in rejecting an earlier appeals court decision regarding the statute of limitations for the case, arguing that New York Attorney General Letitia James’ civil lawsuit should have been dismissed.
The former president’s team also contended that after Justice Engoron’s decision, it gives the state attorney general’s office “limitless power to target anyone,“ including ”political opponents,” according to the 116-page filing.
“If Appellants’ conduct constituted ‘fraud’ […] then that word has no meaning, and [New York Attorney General’s] power to seize and destroy private businesses is boundless—and standardless,” the attorneys added.
Before the trial, Justice Engoron rejected many of the Trump attorneys’ objections as the case proceeded, at one point equating them to the plot of the movie “Groundhog Day” and fining some of the lawyers $7,500 each for “repetitive, frivolous” argument. The Appellate Division previously denied former President Trump’s bid to end the case on statute of limitations and other grounds.
After the judge handed down the judgment, former President Trump posted a $175 million bond in April to halt its collection and prevent interest from accruing. The move also blocked Ms. James from seizing some of his assets in New York City while he appeals the matter.
The Epoch Times contacted the New York Attorney General’s office for comment Tuesday.
In a statement to multiple news outlets, Ms. James’ office said that the appeal filed Monday repeats some arguments that were already rejected. “We won this case based on the facts and the law, and we are confident we will prevail on appeal,” a spokesperson said.
Former President Trump, the Republican nominee for the 2024 presidential election in November, has maintained his innocence in the fraud case, saying he’s being unfairly targeted.
Should former President Trump and his company, the Trump Organization, have to pay the entire judgment, it could imperil his cash reserves, although he might be able to recoup some of those losses due to his large stake in Trump Media, which owns his Truth Social platform.
Earlier this year, he was ordered in a separate case to pay nearly $84 million in damages after a New York jury found that he defamed a writer, E. Jean Carroll.
In May of this year, he was convicted by a Manhattan jury on 34 felony counts of falsifying business records in relation to payments made during the 2016 campaign. Sentencing for that case is scheduled for September.
The Manhattan case may be the only one of four cases against former President Trump that goes to trial before the November election. A federal judge in Florida last week dismissed federal charges involving his handling of classified documents after leaving the White House, arguing that the special counsel appointed in that case, Jack Smith, was improperly appointed by the Department of Justice. Mr. Smith has vowed to appeal the judgment.
Two other election-related cases brought against him in Washington and Georgia have been stalled, and it’s not clear when either will go to trial, if ever. The former president had pleaded not guilty to all charges in the four cases.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
Dearborn Michigan, the Jihad capital of the uSA
(zerohedge)
Dearborn, Michigan Is “America’s Jihad Capital” And Has Descended Into “Civil War”
MONDAY, JUL 22, 2024 – 06:00 PM
The city of Dearborn, Michigan has been bestowed with the title of “America’s Jihad Capital”, and has fallen into civil war with itself over the war in Gaza, the Daily Mail reported last week.
Dearborn, near Detroit, Michigan, hosts the largest Arab American community in the U.S. As the death toll in Gaza rises with no political solution in sight, local sentiment has shifted.
Residents feel American political leaders are complicit in the ongoing Middle East conflict, diminishing their interest in the upcoming election.
The Mail interviewed Abu Bilal, owner of Oriental Fashion on Warren Avenue, who questioned the lack of humanity regarding the deaths of 90 Palestinian civilians.
Another man, at Al-Rehab Barber Shop in Dearborn, expressed apathy toward the upcoming presidential election, saying it wouldn’t make a difference to him.
His barber, who didn’t vote in 2020, echoed this sentiment.
As the Daily Mail notes, the implications for the upcoming election in Michigan could be enormous.
Joe Biden won Michigan in 2020 by 154,000 votes, with Dearborn’s turnout 10 percent higher than in 2016.
However, local enthusiasm has waned, with many Arab American voters protesting Biden’s support for Israel.
In the Democratic primaries, 6,432 Dearborn voters chose ‘uncommitted.’ Despite a recent campaign rally near Dearborn, Arab Americans are rejecting Biden’s bid for their votes, according to the Daily Mail.
Jenin Yaseen, an artist whose family is from a village outside Nablus in the occupied West Bank told the Mail: “The whole community was aware [that the administration had sent campaign officials to meet with the community], and I think it says a lot, that he sees us as no more than votes and that it’s been normalized for our people back home to be killed.”
She added: “Dearborn is made up of people from Yemen, Iraq, Lebanon and elsewhere that have been directly impacted by American imperialism.”
In January, Biden’s campaign team visited Dearborn, but Mayor Abdullah Hammoud and two other Arab American state representatives refused to meet them, as the meeting focused on elections rather than the war.
Hammoud criticized President Biden’s remarks on an Israel-Hamas ceasefire, delivered while he was eating ice cream, and later voted ‘uncommitted’ in protest of Biden’s stance.
In April, Muslim protesters in Dearborn chanted “death to America” and “death to Israel” during a rally supporting Palestinians and opposing Israel.
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
end
END
FREIGHT ISSUES/USA/BOEING
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
END
NEWT GINGRICH
SWAMP NEWS
Secret Service Director Kimberly Cheatle Resigns
TUESDAY, JUL 23, 2024 – 10:31 AM
US Secret Service Director Kimberly Cheatle has resigned, one day after a contentious session with House lawmakers over security failures that facilitated the assassination attempt on Donald Trump on July 13, both NBC and ABC News report.
Her resignation comes after a bipartisan grilling on Monday, with numerous Republicans and at least one Democrat lawmaker demanding she resign, as her agency fell short of its “zero-fail mission.”
Her testimony came after a Sunday night announcement from Homeland Security Secretary Alejandro Mayorkas that the DOJ was forming an independent review panel charged with examining the attempted assassination of Donald Trump.
In one notably heated exchange on Monday, Rep. Nancy Mace (R-SC) told Cheatle that she was ‘full of shit today,’ after Cheatle continued to give vague, or no, answers to pointed questions.
We also learned yesterday that the Secret Service has no recordings of radio communications from the 13th.
She also admitted to using encrypted apps on her personal phone to conduct official business.
Bloody Hell Secret Service Director Kimberly Cheatle just said that she uses encrypted apps on her personal cell phone to speak to colleagues in the federal government and overseas Rep. Eric Burlinson is stunned, and states this might be a federal crime Cheatle hurriedly then clarified that she would never do *exactly* what she just said Rep. Anna Paulina Luna’s request for Chairman Comer to bring perjury charges against her seems to have abundant grounds to do so Cheatle is evasive, self-contradictory, and being told by Congressmen on both sides of the House to resign This hearing is wild
During one exchange with California Democrat Ro Khana, Cheatle didn’t realize that a former Secret Service Director in charge during the Reagan assassination attempt stepped down.
The unusual Sunday night announcement from Mayorkas came about 12 hours before Cheatle’s 10 am Monday appearance before the House Oversight Committee, which Republican Speaker of the House Mike Johnson has touted as “must-watch TV,” telling CNN, “She’s got a lot to answer for. And those concerns are bipartisan.” Underscoring that notion, Oversight Committee member and Democratic Pennsylvania Rep. Brendan Boyle has already demanded that Cheatle resign, via a statement released Saturday.
That panel has been given 45 days to perform its review. While new experts may be added shortly, it initially has four members:
- Obama Homeland Security Secretary Janet Napolitano
- Fran Townsend, a homeland security advisor to President George W. Bush
- Mark Filip, who was deputy attorney general to George W. Bush
- David Mitchell, former Secretary of the Department of Public Safety and Homeland Security for the State of Delaware
Damning information about the Secret Service’s handling of Trump’s rally in Butler, Pennsylvania continues to emerge. On Saturday, the agency was caught in a lie: Having repeatedly denied that Trump’s campaign was denied additional security resources it had requested, the agency was exposed as having done just that, via a report from the Washington Post.
On Friday, the world learned that would-be assassin Thomas Crooks was able to fly a drone over the event site just a few hours before he opened fire. The Secret Service typically bans drone flights at secured sites; butit’s unclear if such a prohibition was at least nominally imposed at the rally.
Crooks was identified as a suspicious individual more than an hour before he opened fire from a rooftop only about 450 feet from Trump’s podium. At the time, he’d already been observed in possession of a range finder and carrying a duffel bag. Later, he was spotted on a rooftop 20 minutes before all hell broke loose. As it did, female agents assigned to the DEI-focused protective detail appeared to falter under fire — even struggling with holstering a weapon.
In the aftermath of the shooting, Cheatle’s credibility took a sharp downturn when, asked why no Secret Service agent was posted atop ideal sniper roost used by the shooter, she told ABC:
“That building in particular has a sloped roof at its highest point. And so, you know, there’s a safety factor that would be considered there that we wouldn’t want to put somebody up on a sloped roof.”
Aaaaand, she’s gone.
END
KING REPORT
| The King Report Jujy 23, 2024, Issue 7289 | Independent View of the News |
| Top Dems threatened to forcibly remove Biden from office unless he resigned, set him up to fail at Trump debate – Operatives at the very highest levels of the Democratic Party threatened Joe Biden with forcibly removing him from office unless he stepped down… stubborn Biden fought against it every step of the way, a source close to the Biden family told The Post Monday… Part of the “elaborate” strategy to remove Biden from the race… was allowing him to debate Republican candidate Donald Trump last month on live TV in Atlanta… “That debate was a set-up to convince Democrats that he couldn’t run for president,” a source close to the Biden family told The Post Monday… party bigwigs threatened to invoke the 25th Amendment to the US Constitution… Democratic Party insiders have also known for at least two years how Biden was in decline, said the source… https://nypost.com/2024/07/22/us-news/top-dems-threatened-to-remove-biden-unless-he-resigned/ @BarakRavid: A Senior official in the Israeli prime minister’s office said that at the moment Netanyahu’s meeting with President Biden is not expected to take place tomorrow. “We are still waiting for an answer from the White House”, the official said. (What is going on with Biden?) @EzraDrissman on Netanyahu’s arrival in the USA: No president to greet. No VP to greet. No secretary of State to greet. Such a nice welcome from the Democratic party. https://x.com/EzraDrissman/status/1815492724511961375 Netanyahu is reportedly requesting a meeting with Trump due to Biden’s seclusion. Biden has not been seen in several days. GOP lawmakers are demanding a status report (more below). PS – Reportedly, Kamala Harris is refusing to preside over the Senate for Benjamin Netanyahu’s address to Congress on Wednesday. China Surprises with Rate Cut after XI’s Big Meeting Disappoints – BBG The People’s Bank of China on Monday cut the seven-day reverse repo rate (10bps)… in the first reduction in almost a year. Chinese banks followed the move about an hour later by lowering their main benchmark lending rates, making it less costly to borrow for mortgages and other loans… The twice-a-decade Third Plenum last week confirmed Beijing’s desire to refrain from massive stimulus as it seeks to re-engineer growth drivers away from debt-fueled sectors like property.. “Neither the Plenum reforms nor the 10-basis-point reductions are the big bang the market wants. Still, the moves push in the right direction and the fact they have arrived together is a sign of urgency,” Bloomberg Economics said in a report on Monday, calling the combination of policy and rate announcements a “little bang.”… https://finance.yahoo.com/news/chinese-central-bank-cuts-key-002325174.html Despite the rate cut, the CSI 300 still declined 0.68%; the Shanghai Comp fell 0.61%; and the Shenzhen Comp dropped 0.1%. Mag 7/Fangs soared on Monday because Tesla and Google report results on Tuesday. Traders are playing the widely known pattern of Fangs rallying into their results. The general stock market reluctantly followed Fangs higher. Bond declined moderately. ESUs rallied steadily from the Nikkei opening until 9:45 ET. A bigger dump than usual (30 handles) pushed ESUs down to 5577.00 at 10:09 ET. Trader buying took ESUs to a new high of 5607.75 at 11:02 ET. ESUs then tumbled to 5572.75 on liquidation for the European close. A robust Noon Balloon propelled ESUs higher. The rally continued but at a slower pace in the afternoon. ESUs hit a high of 5616.00 at 14:39 ET. ESUs then traded sideways but modestly lower to 16:00 ET. Positive aspects of previous session Fangs soared; the general market followed Negative aspects of previous session Bonds declined moderately; USUs closed -11/32 Ambiguous aspects of previous session Where is Biden; and what is wrong? (More below) 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]: 5554.60 Previous session S&P 500 Index High/Low: 5570.36; 5429.04 @CBSNews: Secret Service Director Kimberly Cheatle testifies about the Trump assassination attempt: “The Secret Service’s solemn mission is to protect our nation’s leaders. On July 13, we failed. As the director of the United States Secret Service, I take full responsibility for any security lapse of our agency.” https://x.com/CBSNews/status/1815395408153047533 @greg_price11: Secret Service Director Kimberly Cheatle isn’t answering any of Rep. Comer’s questions about the assassination attempt against President Trump: “I’m not going to get into specifics of that day in itself.” https://x.com/greg_price11/status/1815395420786286937 @GOPoversight: Chairman Comer warns Director Cheatle that she is under subpoena as she refuses to answer basic questions. “I have to say, director, we’re pretty close to the halfway point during this. “You answered more questions with an ABC reporter than you have with members of Congress. “We have a lot more questions. “The American people are demanding that we get answers to those questions. “And that’s what the purpose of this hearing is today. “So, I’m sure a lot of the questions that have already been asked are going to be asked again, and hopefully we can get some answers to those questions. “I strongly implore you to answer those questions. “You’re here with a subpoena, and we expect you to answer the questions.” https://x.com/GOPoversight/status/1815424095258812822 Dems also chastised Cheatle and some Dems called for her resignation. Her smug, arrogant noncooperation and unresponsiveness infuriated most Reps. @theblaze: AOC rips USSS Director Cheatle: “The idea that a report will be finalized in 60 days, let alone prior to any actionable decisions that would be made, is simply not acceptable. It has been 10 days since an assassination attempt on a former president. There need to be answers.” https://x.com/theblaze/status/1815414877298491832 @paulsperry_: USSS chief Kim Cheatle just testified FBI Director Wray shared with her the number of shell casings that agents found on the roof of the building from which would-be assassin shot President Trump, however, Cheatle refused to share that figure with lawmakers & the public. @T_S_P_O_O_K_Y: Cheatle is the ultimate DEI failure on full display…she has admitted in today’s hearing to using ‘encrypted communications’ on her personal/private communication device ‘with colleagues’ in the federal government and the White House… We are now in felony charge territory for perjury and potential conspiracy… this is as bad as it gets… this is worse than a DEI failure…we have evidence they weaponized incompetence against @julie_kelly2: Criminal. Cheatle admits USSS does not have radio comms recordings from July 13. (The conspiracy theories will escalate! How could the USSS not have July 13 radio com recordings?) https://x.com/julie_kelly2/status/1815454221350678563 @greg_price11: Dem Rep. Khanna: “Stewart Knight was in charge of the Secret Service [when Reagan was shot]. Do you know what he did afterwards?” Cheatle: “He remained on duty.” Khanna: “He resigned.” https://t.co/cb0FEq5xvn @seanmdav: I didn’t believe until now that a specific stand down order was given by the Secret Service to leave the assassin alone. But now that we know Cheatle refused to record or archive the comms (or potentially even deleted them), I don’t think there’s any other conclusion to draw. If true, this is a huge bombshell! @OversightPR: We found the assassin’s connections through our in-depth analysis of mobile ad data to track movements of Crooks and his associates. To do this, we tracked devices that regularly visited both Crooks’s home and place of work and followed them. Someone who regularly visited Crooks home and work also visited a building in Washington, DC located in Gallery Place. This is in the same vicinity of an @FBI office on June 26, 2023. Who’s device is this? https://x.com/OversightPR/status/1815446057829974267 Rep. Mace calls ‘bulls—‘ on response from Secret Service director “Would you say leaking your opening statement to Punchbowl News, Politico’s Playbook and Washington Post several hours before you sent it to this committee as being political? Yes or no?” Mace asked Cheatle. “I have no idea how my statement got out,” Cheatle responded, to which Mace replied, “Well, that’s bulls—.”… Mace then asked Cheatle, “Have you provided all audio and video recordings in your possession to this committee, as we asked on July 15? Yes or no?” “I would have to get back to you,” Cheatle said. “That is a no. You’re full of s– today. You’re just being completely dishonest,” Mace told Cheatle… https://www.foxnews.com/us/rep-mace-calls-bulls-response-secret-service-director-cheatle Fox’s @ChadPergram: GOP SC Rep Mace on Fox on Cheatle: There have been calls on both sides of the aisle for her to resign today. If she does not resign, I urge the administration to fire her. I am currently, as I as I stand here in this interview right now, looking at possible articles of impeachment with her, given the type of officer that she is of the Secret Service. Is that even a possibility? Because if it is, then that should happen right away. House Oversight Chairman James Comer and Ranking Member Jamie Raskin announce a bipartisan demand for Secret Service director Kimberly Cheatle to resign. https://x.com/GOPoversight/status/1815464656749605037 GOP Rep. @NancyMace: Just filed a privileged motion to impeach Kim Cheatle, Director of the Secret Service. This will force a vote within the next 48 hours. GOP Sen. @HawleyMO: Whistleblowers tell me law enforcement personnel were in fact STATIONED to the roof the day of the Trump rally, but abandoned it, citing the heat. They also say law enforcement were supposed to be patrolling the building but opted to stay inside instead. https://x.com/HawleyMO/status/1815497407293010180 Secret Service Skipped Security Briefing, Wasn’t Even Planning to Send Snipers to Trump Rally https://thefederalist.com/2024/07/22/reports-secret-service-skipped-security-briefing-wasnt-even-planning-to-send-snipers-to-trump-rally/ Trump told Jesse Watters that USSS Director Cheatle, when visiting him in the hospital, told DJT that the USSS didn’t have the resources to protect him. https://x.com/TrumpWarRoom/status/1815552141416599734 @DMichaelTripi: Kamala Harris is flying to Wilmington, Delaware to speak with Joe Biden’s staff. We could be witnessing a transfer of power sooner than expected. (More below) https://x.com/DMichaelTripi/status/1815482865439711453 Today – Some of the largest industrial companies in the world will report results. They will be ignored because traders and stock jockeys will be transfixed on Tesla and Google’s results. Rumors about TSLA and GOOGL’s results, due after the close, could impact late trading. Buying for Fang results is the major dynamic in the market now. It will remain that way until Apple reports results or a few Fangs issue disappointing results. NQUs are -45.50.50; ESUs are -7.25; and USUs are +5/32 at 21:15 ET. Expected economic data: July Phil Fed Non-Mfg. 2.9; July Richmond Fed Mfg. Index -7; June Existing Home Sales 3.99m Expected earnings: UPS 1.99, KMB 1.69, GM 2.69, PHM 3.28, FCX .36, HCA 4.90, DHR 1.58, KO .81, PCAR 2.13, LMT 6.45, PM 1.56, GE .99, TSLA .61, V 1.16, PKG 1.22, CB 5.16, GOOGL 1.84 S&P Index 50-day MA: 5417; 100-day MA: 5277; 150-day MA: 5139; 200-day MA: 4957 DJIA 50-day MA: 39,349; 100-day MA: 39,039; 150-day MA: 38,702; 200-day MA: 37,639 (Green is positive slope; Red is negative slope) S&P 500 Index (5559.41 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 5379.87 triggers a sell signal Daily: Trender and MACD are negative – a close above 5654.04 triggers a buy signal Hourly: Trender and MACD are positive – a close below 5515.48 triggers a sell signal GOP Rep. @RepThomasMassie: If a coup happened in your own country would you recognize it? This is a coup of a puppet regime. Why is he even in the White House now? tbh, this is how it works, even if it had been a legit resignation… @TrumpWarRoom: Fox’s BAIER: Not physically seeing Biden – not addressing a camera in Delaware, let alone an Oval Office statement like LBJ did. PERINO: They didn’t even release a WH still photograph. Nothing. I hope he’s fine, but you can forgive people for wondering if we are really living Weekend at Bernie’s right now. Like, proof of life, please. https://x.com/TrumpWarRoom/status/1815161431068742116 @lansing: The WH Chief of Staff called Cabinet officials to tell them, not Biden? https://x.com/lansing/status/1815189867292430844 @MikeBenzCyber: This is getting weird… has anyone talked to the current POTUS today?! GOP Rep. @chiproytx: Where is Joe Biden? No, really… where is he? Reporter @SaraCarterDC: Why didn’t Biden’s letter have the official Presidential seal on it? I’ve been traveling through multiple airports and a few people have questioned that … https://saraacarter.com/breaking-biden-announces-it-is-in-the-best-interest-of-my-party-and-the-country-for-me-to-stand-down/ @BillAckman: One would think that a letter to the American people from the president announcing his decision to step aside would not be signed using a digital signature and would be accompanied by a photo op and a scheduled conference in the morning that followed. Instead, we have a digitally signed letter released on the president’s @X account, an account we know that is run by a staffer, no photo, and no live scheduled address to the American people. If I were China, I would invade Taiwan tomorrow. Kamala Harris made public comments at 11:30 AM ET on Monday. Biden still had not surfaced. This is not normal. In the late afternoon, Biden reputedly called into a campaign event at Harris’s HQ. https://x.com/nypost/status/1815513880761954340 GOP Rep. @mtgreenee: “Joe, I know you’re still on the rec…the call.” Did Kamala spill the beans? Was it a recording? That’s what she started to say. https://x.com/mtgreenee/status/1815513651060650446 @SteveGuest: Kamala Harris to Joe Biden fresh off her successful coup: “JOE, ARE YOU WATCHING? DO YOU HEAR THIS CLAPPING? CAN YOU SEE IT? HA HA HA HA!” https://x.com/SteveGuest/status/1815512594930696654 Biden cancels nine trips, extends Delaware stay after dropping out of 2024 race https://nypost.com/2024/07/22/us-news/biden-cancels-nine-trips-extends-delaware-stay-after-dropping-out/ Sunday night, The White House released Biden’s schedule for the week. So far there is nothing scheduled. https://x.com/robcrilly/status/1815173751019106342/photo/1 @LeadingReport: Rep. Lauren Boebert demands proof of life from Joe Biden today by 5:00pm. “He needs to get in front of some camera and discuss if he’s aware that he dropped out. Hiding is completely unacceptable.” GOP senator demands Cabinet invoke 25th Amendment against Biden after suspending his re-election campaign – ‘If Joe Biden is incapable of running for office, he is incapable of serving in office. It is that simple,’ Schmitt told Fox News https://www.foxnews.com/politics/gop-senator-demands-cabinet-invoke-25th-amendment-against-biden-after-suspending-his-re-election-campaign @TheGeorgeHQ: The WHITE HOUSE is now referring to “The BIDEN / HARRIS” Administration, in Press Release emails. —as opposed to “Joe Biden” or “The President”, as they would normally do. https://x.com/TheGeorgeHQ/status/1815441518364385759 @kylenabecker: Frank Biden confirms health “absolutely” played a role in his brother Joe Biden *DROPPING OUT.* The White House and the media *DENIED* this for years. He also said they will enjoy “whatever time we have left.” Wait, is Joe Biden TERMINAL? https://x.com/kylenabecker/status/1815207166325780989 Daily Mail: A Biden family source poured very hot water on Frank’s claims. ‘Frank Biden suffers from alcoholism and hasn’t spoken to his brother in weeks,’ the source told CBS. ‘What he said … is completely untrue.’… https://www.dailymail.co.uk/news/article-13657655/frank-biden-shocking-statement-joe.html Ex-liberal icon @mtaibbi: Joe Biden is clearly not the president currently. Someone we did not elect to be president is making executive decisions. Why is that not a big deal? I can’t imagine it’s legal. @TrumpWarRoom: (ABC’s) GUTHRIE: If you’re so concerned about Biden’s condition that you called for him to drop out, how do you justify him serving as president *right now* if he doesn’t have the competence to run? ADAM SCHIFF: Uhhhh… https://x.com/TrumpWarRoom/status/1815358177233310116 @charliekirk11: The NYT Editorial Board has already moved against Kamala, advocating instead for either a blitz primary or an open convention where the “delegates have a voice in the decision…” “There are other qualified Democrats who could take on Mr. Trump and win…While the hour is late, there is still time to put leading candidates through a process of public scrutiny before the party’s nominating convention begins on Aug. 19.” What a mess! https://www.nytimes.com/2024/07/21/opinion/editorials/joe-biden-drops-out-courage.html Axios: Biden doubted Harris’ election chances President Biden hesitated to drop his re-election campaign in part because he and his senior advisers worried that Vice President Kamala Harris wasn’t up to taking on Donald Trump, according to three Biden aides familiar with recent talks about his plans… https://www.axios.com/2024/07/22/biden-kamala-harris-election-chances CBS’s @costareports: Some Democratic donors and officials are reaching out to Sen. Joe Manchin to consider standing for the presidential nomination, per two people familiar with the discussions. @RNCResearch: Democrat Rep. Jasmine Crockett says she’s “not confident at all” in Kamala’s chances — because “behind closed doors,” Democrats are saying “it can’t be her.” Yikes! https://x.com/RNCResearch/status/1815203497601908832 VP Kamala Harris Had 92-Percent Staff Turnover During Her First Three Years Chaos reigns on the vice president’s staff. And Harris tried to hide it by claiming that her office is not subject to the Freedom of Information Act (FOIA). https://openthebooks.substack.com/p/vp-kamala-harris-had-92-percent-staff @greg_price11: VP: “I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit.” https://x.com/greg_price11/status/1551984522685829120 @elonmusk: Imagine 4 years of this … @RNCResearch: FLASHBACK: Kamala said it’s “wrongheaded” and “outdated” to think police officers make communities safe: “What we will do is reimagine public safety.” https://x.com/RNCResearch/status/1815151392257958159 @EndWokeness: Kamala: “We’ve been to the border.” NBC: “You have not been to the border.” Kamala: “…and I haven’t been to Europe.” https://x.com/EndWokeness/status/1815128365705429187 @greg_price11: Flashback to the time Kamala Harris claimed she told her mother that she wanted “fweedom” when she was a child at a civil rights march but the entire story was plagiarized from MLK. https://t.co/IsUVwxVLrn Kamala Harris word salads leave social media users ‘unburdened by what has been’ https://trib.al/bfMx0HO @RNCResearch: Biden/Harris campaign co-chair Chris Coons is currently crying on national television after the coup to force Biden off the ticket. https://x.com/RNCResearch/status/1815113869150572782 @ElectionWiz: “Major Biden donor John Morgan tells ABC News he won’t fundraise for Harris if she’s the nominee. He adds, “If Trump World could pick anybody to run against, I think they pick her.” In yesterday’s missive, we wondered why no pundits mused about how many Biden supporters and donors would ‘stay home’ because of the coup against Joe. Apparently, the recriminations have started. @SteveGuest: CNN’s John King reports that Democrats are concerned that Pennsylvania Democrat Governor Josh Shapiro’s Jewish faith is a risk if he is on Kamala Harris’ ticket. The antisemitism in the Democrat Party is WILD. https://x.com/SteveGuest/status/1815200175935115529 Kamala is double digits behind Trump in Pennsylvania because there are beaucoup Biden supporters in the state where he was born. Pulling a Julius Caesar on Joe will NOT sit well in PA – and other blue collar midwestern swing states. Ex-federal prosecutor @shipwreckedcrew: Pelosi is NOT a Harris fan. Biden was down to two choices in 2020 for his DEI mandated Black Female VP pick — Senator Kamala Harris from Calif, and Congresswoman Karen Bass — also from Calif. Pelosi backed Bass, not the in-state Senator. This is part of a long-time Dem party rivalry in NorCal, with Pelosi and Harris from different camps. But Harris gets the nod by Biden. The effort to push Joe out — led very publicly by Pelosi — had to be sooner rather than later. It could not wait for the convention. If Joe bowed out that late there would be no opportunity to mount a campaign against Harris. But the DNC convention is very late — Aug 19-22. That means there are 4 weeks for opposition to Harris to develop and lead to a delegate fight for the nomination… @GiancarloSopo: BREAKING: An overnight Forbes / HarrisX poll shows Trump and Harris are TIED with Hispanics… Democratic presidential candidates typically win Hispanics by 40 points. https://x.com/GiancarloSopo/status/1815504852128051217 Another overnight poll, this time from Quinnipiac, shows Trump and Harris TIED among Hispanics at 39%. Context: This would be the worst performance ever for Democrats with Hispanics, even lower than John Kerry’s record low of 53% in 2004. https://x.com/GiancarloSopo/status/1815504852128051217 Supreme Court orders New York to respond to Missouri lawsuit over Trump ‘lawfare’ this week Bailey argued that the prosecution of former President Donald Trump in his hush money case, along with the court’s gag orders, damaged Missourians’ right to hear him speak freely ahead of the election. https://justthenews.com/government/courts-law/supreme-court-orders-new-york-respond-missouri-lawsuit-over-trump-lawfare | |
GREG HUNTER
SEE YOU ON TUESDAY
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