GOLD PRICE CLOSED UP $27.35 TO $2382.25
SILVER PRICE UP $0,07 TO $27.83
Gold ACCESS CLOSED $2386.05
Silver ACCESS CLOSED: $27.92
Bitcoin morning price:$67.095 UP 2056 DOLLARS. bankers doing a good job destroying the value of bitcoin
Bitcoin: afternoon price: $67,916 down 1235
dollars//
Platinum price closing DOWN $0.85 TO $936.40
Palladium price; DOWN $5.15 AT $900.90
END
SHANGHAI GOLD PREMIUM 14 DOLLARS/COMEX GOLD//august to august
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 26 Jul 2024 09:15:23 AM CT.
Market data is delayed by at least 10 minutes.
*CANADIAN GOLD: $3300 UP 33.60 CDN dollars per oz( * NEW ALL TIME HIGH 3,375.67 CDN DOLLARS PER OZ//JULY 16 2024)
*BRITISH GOLD: 1,853.50 UP 14.87 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2,197.85 UP 19.60 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: 2,351.900000000 USD
INTENT DATE: 07/25/2024 DELIVERY DATE: 07/29/2024
FIRM ORG FIRM NAME ISSUED STOPPED
363 H WELLS FARGO SEC 1
624 H BOFA SECURITIES 4
732 C RBC CAP MARKETS 2
737 C ADVANTAGE 5 2
TOTAL: 7 7
JPMorgan stopped 0/7
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2024. CONTRACT: 7 NOTICES FOR 700 OZ or 0.02177 TONNES
total notices so far: 3682 contracts for 368200 Oz (11.4625 tonnes)
FOR JULY:
SILVER NOTICES: 62 NOTICE(S) FILED FOR 0.310 million
OZ/
total number of notices filed so far this month : 6141 for 30.705 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 $27.35 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 3.45 TONNES OF GOLD INTO THE GLD/
/ /INVENTORY RESTS AT 845.19 TONNES
INVENTORY RESTS AT 845.19 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.07 AT THE SLV/WOW!! AGAIN???//HUGE MOVEMENTS
NO CHANGES IN SILVER INVENTORY AT THE SLV:
// INVENTORY FALLS TO 456.670 MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 456.670 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A HUGE SIZED 2414 CONTRACTS TO 154,075 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 WITH OUR HUGE LOSS OF $1.37 IN SILVER PRICING AT THE COMEX ON THURSDAY’S TRADING ON SILVER. WE HAD HUGE LIQUIDATION WITH OUR HUGE NET LOSS OF 709 CONTRACTS ON OUR TWO EXCHANGES WE HAD A MASSIVE LIQUIDATION OF T.A.S. CONTRACTS WHICH ACCOUNTS FOR THE OI LOSS SIMILAR TO THE COMEX GOLD TRADING. WE, AGAIN HAD MAJOR SHORT COVERING BY OUR SPECS WITH THE HUGE LOSS IN PRICE AS WELL AS THE MASSIVE T.A.S. LIQUIDATION MENTIONED ABOVE WHICH ACCOUNTS FOR THE LOSS OF OI ON THE TWO EXCHANGES. WE HAD A MASSIVE SIZED 1705 EXCHANGE FOR PHYSICAL ISSUANCE AS WELL AS A MASSIVE 1876 CONTRACT 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 YESTERDAY.
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 THURSDAY NIGHT: 1876 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 SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $1.37) AND WERE SUCCESSFUL IN KNOCKING MAJOR SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE SIZED LOSS OF 689 CONTRACTS ON OUR TWO EXCHANGES.
WE MUST HAVE HAD:
A HUMONGOUS SIZED 1705 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 28.490 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S QUEUE JUMP OF 40,000 OZ
//NEW STANDING FOR SILVER//JUNE IS THUS 30.770 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI LOSS //HUMONGOUS SIZED EFP ISSUANCE/ VI) HUMONGOUS SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 1876 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL removed 20 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 19 DAYS, total 19,153 contracts: OR 95.765 MILLION OZ (1008 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 95.765 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: 95.765 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)
RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2414 CONTRACTS WITH OUR HUGE LOSS IN PRICE OF SILVER PRICING AT THE COMEX//THURSDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS EFP ISSUANCE CONTRACTS: 1705 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 40,000 OZ QUEUE JUMP
//NEW TOTAL STANDING FOR JULY 30.770 MILLION OZ
WE HAVE A HUGE SIZED LOSS OF 709 OI CONTRACTS ON THE TWO EXCHANGES WITH THE HUGE LOSS IN PRICE. THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1876 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX TRADING WHICH ACCOUNTS FOR THE MAJOR PORTION OF THE COMEX OI LOSS/// MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND MAJOR LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.
THE NEW TAS ISSUANCE THURSDAY NIGHT (1876) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 62 NOTICE(S) FILED TODAY FOR 0.310 million OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A HUMONGOUS SIZED 33,927 OI CONTRACTS TO 542,303 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 5289 CONTRACTS
WE HAD A HUMONGOUS SIZED DECREASE IN COMEX OI (33,928 CONTRACTS) OCCURRED WITH OUR HUGE LOSS OF $60.45 IN PRICE/THURSDAY. 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 1700 OZ QUEUE JUMP
NEW STANDING 11.685 TONNES
/ ALL OF THIS HAPPENED DESPITE OUR $60.45 LOSS IN PRICE WITH RESPECT TO THURSDAY’S TRADING. WE HAD A HUMONGOUS SIZED LOSS OF 26,040 OI CONTRACTS (80.79 PAPER TONNES) ON OUR TWO EXCHANGES., WITH THOSE LONGS REMAINING, TOTALLY OBLIVIOUS TO THE RAID ORCHESTRATED BY THE STUPID BANKS. BANKERS REGROUPED ON THURSDAY NIGHT TO ORCHESTRATE OUR VICIOUS RAID. THEN CALMLY AT THE END OF THE TRADING SESSION, THOSE CENTRAL BANK LONGS TENDERED FOR PHYSICAL GOLD.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 7887 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 537,014
IN ESSENCE WE HAVE A HUMONGOUS SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 26,040 CONTRACTS WITH 33,928 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 7887 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS ON THE TWO EXCHANGES OF 26,040 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A VERY STRONG 3173 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (7887 CONTRACTS) ACCOMPANYING THE HUMONGOUS SIZED LOSS IN COMEX OI OF 33,927 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 26,040 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 1700 OZ QUEUE JUMP
//NEW STANDING /JULY 11.685 TONNES.
/ 3) HUGE T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH HUGE NET LONG SPECS BEING CLIPPED,
4) HUGE SIZED COMEX OPEN INTEREST LOSS 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///VERY STRONG T.A.S. ISSUANCE: 3173 CONTRACTS WHICH WILL BE BADLY NEEDED IN THURSDAY’S RAID.
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: 96,225 CONTRACTS OF 9,622,500 OZ OR 299.300 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 5064 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 19 TRADING DAY(S) IN TONNES 299.300 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 299.30 DIVIDED BY 3550 x 100% TONNES = 8.54% 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: 299.30 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 2414 CONTRACTS OI TO 154,075 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 1705 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 1705 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1705 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 2414 CONTRACTS AND ADD TO THE 1705 E.FP. ISSUED
WE OBTAIN A HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 709 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 3.445 MILLION OZ OCCURRED DESPITE OUR HUGE $1.37 LOSS IN PRICE …THE MAJORITY OF THE OI LOSS WAS DUE TO SPREADER/T.A.S. LIQUIDATION ALONG WITH LONG 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//
FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 4.16 PTS OR 0.14% //Hang Seng CLOSED UP 16.24 PTS OR 0.10% // Nikkei CLOSED DOWN 202.10 OR 0.53%//Australia’s all ordinaries CLOSED UP 0.73%///Chinese yuan (ONSHORE) closed DOWN TO 7,2519 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2620/ Oil UP TO 78.01dollars per barrel for WTI and BRENT DOWN AT 82,00Stocks in Europe OPENED MOSTLY GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A MEGA HUMONGOUS SIZED 33,928 CONTRACTS TO 542,303 WITH OUR HUGE LOSS IN PRICE OF $60.45 WITH RESPECT TO THURSDAY’S TRADING. WE LOST A MAJOR PORTION OF OUR LONGS AS THE FED ORCHESTRATED THIS RAID COMMENCING IN THE WEE HOURS OF THURSDAY MORNING AND IT CONTINUED THROUGHOUT THE COMEX HOURS. HOWEVER AS THE PRICE REACHED ITS LOWS, OUR LONDONERS BOUGHT MASSIVE QUANTITIES OF LONGS AND THEN TENDERED FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD MUST BE DELIVERED IN A VERY TIMELY T PLUS ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.
WE HAD A STRONG T.A.S. LIQUIDATION ON THURSDAY’S LOSS IN PRICE WITH MAJOR LONGS BEING CLIPPED AS WELL AS MAJOR SHORT COVERING. THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR PHYSICAL.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW ENTERING INTO THE NON ACTIVE DELIVERY MONTH OF JULY.… THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A HUGE SIZED 7887 EFP CONTRACTS WERE ISSUED: : AUGUST 7887 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 7887 CONTRACTS.
ON A NET BASIS IN OPEN INTEREST WE LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A GIGANTIC SIZED TOTAL OF 26,040 CONTRACTS IN THAT 7887 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GIGANTIC SIZED LOSS OF 33,927 COMEX CONTRACTS..AND THIS HUGE LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $60.45/THURSDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, THURSDAY 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 THURSDAY NIGHT A STRONG SIZED 3173 CONTRACTS. ALMOST ALL 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 AS WELL AS THIS WEEK.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: JULY (11.685 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: 11.685 TONNES
THE SPECS/HFT WERE SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY $60.45 //// AND WERE SUCCESSFUL IN KNOCKING OFF MAJOR SPECULATOR LONGS. CENTRAL BANK LONGS THAT REMAINED EXERCISED FOR PHYSICAL. WE HAD A HUGE T.A.S. LIQUIDATION THURSDAY NIGHT
WE HAVE LOST A TOTAL OI OF 80.79 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 1700 OZ QUEUE JUMP//NEW STANDING 11.685 TONNES
NEW STANDING FOR JULY: 11.685 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR LOSS IN PRICE TO THE TUNE OF $60.45
WE HAVE REMOVED 5289 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET LOSS ON THE TWO EXCHANGES 26,040 CONTRACTS OR 2,604,000 OZ (80.79 TONNES)
confirmed volume THURSDAY 426,892 contracts//huge
//speculators have left the gold arena
JULY 26 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 | NIL oz |
| No of oz served (contracts) today | 7 notice(s) 700 OZ 0.02177 TONNES |
| No of oz to be served (notices) | 75 contracts 7500 OZ 0.2332 TONNES |
| Total monthly oz gold served (contracts) so far this month | 3682 notices 368,200 oz 11.4572 TONNES |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month | x |
0 dealer deposits:
total dealer deposits: nil oz
we have 0 customer deposits
total deposits NIL oz
withdrawals: 0
TOTAL WITHDRAWALS nil oz
Adjustment 2
a) customer to dealer Malca’ 96,453.000 oz
b) customer to dealer jpm, : 28,357.82 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JULY
For the front month of JULY we have an oi of 83 contracts having GAINED 15 contracts. We had 2 notices filed on THURSDAY so we GAINED 17 contracts or an additional 1700 oz will stand at the comex (0.0528 tonnes)
AUGUST LOST 46,373 CONTRACTS DOWN TO 97,626 CONTRACTS. WE HAVE 3 MORE READING DAYS BEFORE THE BIG FIRST DAY NOTICE ON JULY 31.
SEPT. GAINED 82 CONTRACTS TO STAND AT 1502.
OCTOBER GAINED 2801 CONTRACTS UP TO 54,254 CONTRACTS
We had 7 contracts filed for today representing 700 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 7 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 (3682) x 100 oz ) to which we add the difference between the open interest for the front month of JULY 93( CONTRACTS) minus the number of notices served upon today (7 x 100 oz per contract( equals 375,700 OZ OR 11.685 TONNES.
thus the INITIAL standings for gold for the JULY contract month: No of notices filed so far (3682 x 100 oz +we add the difference for front month of JULY (93 X// , OI} minus the number of notices served upon today (7) x 100 oz which equals 375.700 oz (11.685 TONNES)
TOTAL COMEX GOLD STANDING FOR JULY: 11.685 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: 1,681,046.921 oz 52.28 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,964,341.02 OZ
TOTAL REGISTERED GOLD 8,224,416.752 ( 255.81 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,739,924.290 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,543,370 oz (REG GOLD- PLEDGED GOLD)= 203.52 tonnes //
END
SILVER/COMEX
JULY 26/2024
INITIAL
//2024// THE JULY 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 9690.199oz Delaware . |
| Deposits to the Dealer Inventory | |
| Deposits to the Customer Inventory | 308,006.237 oz CNT |
| No of oz served today (contracts) | 62 CONTRACT(S) (.310 million OZ) |
| No of oz to be served (notices) | 13 contracts (0.065 million oz) |
| Total monthly oz silver served (contracts) | 6141 Contracts (30.705 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit/
total dealer deposit : nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 1 customer deposits:
i) into CNT 308,066.237 oz
total customer deposit 308,066.237 oz
JPMorgan has a total silver weight: 132.563million oz/303.163million or 43.54%
adjustment:2; dealer to customer
i) Brinks 694,135.422 oz
ii) Manfra: 332,151.622 oz
customer withdrawals: 1
i) Out of Delaware 9690.189 oz
total withdrawal: 9690.189 0z
TOTAL REGISTERED SILVER: 69.377 MILLION OZ//.TOTAL REG + ELIGIBLE. 303.163 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR JULY:
silver open interest data:
FRONT MONTH OF JULY/2024 OI: 85 CONTRACTS HAVING GAINED 5 CONTRACT(S). WE HAD 3 NOTICES FILED ON THURSDAY SO WE GAINED 8 CONTRACTS OR AN ADDITIONAL 40,000 OZ WILL STAND AT THE COMEX
AUG, SAW A GAIN OF 133 CONTRACTS TO 1239
SEPT SAW A LOSS OF 5776 CONTRACTS TO 112,523
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 62 for 0.310 MILLION oz
CONFIRMED volume; ON THURSDAY 129,149 gigantic
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 6141 x 5,000 oz = 30.705 MILLION oz
to which we add the difference between the open interest for the front month of JULY( x75) and the number of notices served upon today 62 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the JULY/2024 contract month: 6142 notices served so far) x 5000 oz + OI for the front month of JULY (75)x number of notices served upon today minus (62)x 5000 oz of silver standing for the JULY contract month equates to 30.770 MILLION OZ.
New total standing: 30.770 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 26 WITH GOLD UP $27.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A DEPOSIT OF 3.45 TONNES OF GOLD INTO THE GLD/////INVENTORY RESTS AT 845.19 TONNES
JULY 25 WITH GOLD DOWN $60.45 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 841.74 TONNES
JULY 24 WITH GOLD UP $12.75 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1,73 TOONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 841.74 TONNES
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: 845.19 TONNES, TONIGHTS TOTAL
SILVER
JULY 26//WITH SILVER DOWN $0.07//NO CHANGES IN SILVER INVENTORY./// /INVENTORY REMAINS AT 456.670 MILLION OZ
JULY 25 WITH SILVER DOWN $1.37//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 3.124 MILLION OZ OF SILVER OUT OF THE SLV./// /INVENTORY FALLS TO 456.670 MILLION OZ
JULY 24 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 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 456.670 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY
African Countries Are Turning To Gold
FRIDAY, JUL 26, 2024 – 06:30 AM
Authored by Mike Maharrey via MoneyMetals.com,
A growing number of African countries are turning to gold to hedge geopolitical risk and protect against currency losses.
Nigeria, Uganda, Zimbabwe, Madagascar, and several other African nations have made moves to increase gold reserves, bring their gold home, and even back their currencies with the yellow metal.
South Sudan is the latest country to turn to gold. Last weekend, the country’s central bank governor said he plans to expand the country’s gold reserves.
“We are in the stage of preparing policy documents and studying examples of other countries and lessons drawn.”
Earlier this month, the Ugandan central bank announced a domestic gold-buying program to purchase gold directly from local artisanal miners to help “address the risks in the international financial markets.”
In June, Tanzania announced a plan to spend $400 million on six tons of gold. Tanzania Finance Minister Dr. Mwigulu Nchemba also issued a directive to curb the widespread use of the U.S. dollar in the country.
Nigeria has launched a domestic gold-buying plan to bolster its reserves. In addition to buying locally sourced gold, the Nigerian central bank has announced plans to bring its existing gold reserves back into the country “to mitigate risks associated with the weakening U.S. economy.”
“Economic indicators such as rising inflation, escalating debt levels, and geopolitical tensions have raised apprehensions among Nigerian policymakers about the stability of the U.S. financial system.”
Last year, the Central Bank of Madagascar implemented a domestic gold purchases program as income from vanilla exports declined.
As an analyst explained to Bloomberg, “Central banks can add gold to their official reserves using their local currency, allowing them to grow reserve assets without having to sacrifice other hard-currency reserves.”
Meanwhile, a presidential candidate in Ghana recently said he would back the country’s currency with gold if he wins the election.
“Ultimately, my goal is that we are going to back our currency with gold and that is where I want us to go, increasingly backing our currency with gold.”
This would follow the lead of Zimbabwe, which created a gold-backed currency earlier this year. The ZiG (Zimbabwe gold; ZiG; ZWG) replaced the Zimbabwean dollar (RTGS; 1980-2008: ZWL). The currency is a “structured currency” backed primarily by gold but also by other forex reserves including U.S. dollars (USD).
To some degree, African leaders and central bankers are trying to fix problems they created by printing too much money and running up dollar-denominated debt.
But they are also concerned about America’s weaponization of the dollar and other risks associated with the greenback including the profligate spending and growing national debt.
A Tellimer (Dubai) emerging market equity strategy told Bloomberg the move makes sense.
“For countries taking a view that either the price of gold is going to go up, the price of the U.S. dollar is going to go down, or their access to U.S. dollars may be compromised by sanctions then increasing the allocation of gold in their reserves might make sense.”
end
Boeing, Money Printing, & The Military-Industrial Complex
FRIDAY, JUL 26, 2024 – 12:55 PM
Boeing’s commercial jets struggle, but its military machines thrive, all fueled by endless fiat money…
Not-so-mysteriously, none of the problems now associated with Boeing passenger planes seem to be affecting the weapons of annihilation they produce for the Military-Industrial Complex’s borderless global war machine, which is fueled by infinite fiat money.
Myriad problems with Boeing passenger jets have put the company into the news just about every day for months, but the company makes much more than just planes for commercial passenger airlines. Boeing is also a major aerospace contractor that produces fighter jets, attack helicopters, predator drones, missiles, and even the president’s airplane, Air Force One.
To be fair, Boeing’s record as of late beyond commercial jets is far from perfect — its Starliner, a crewed craft designed to bring astronauts to the ISS, was plagued with issues on the way to the space station that are now being investigated by its astronauts. And Boeing’s main rival in the space industry, SpaceX, has had its own problems with similar craft.
But when was the last time you heard about an Apache helicopter breaking down on its way to deliver a payload of highly-combustible “democracy” to a country unfortunate enough to be on the ever-expanding list of nation-states roped into unnecessary wars waged by the US or one of its global proxies?
Somehow, the systemic quality control issues at Boeing appear much more likely to get a handful of hapless air travelers injured than to cause problems with a military operation that has the “righteous” cause of protecting the petrodollar hegemon. The printing of fiat money fuels both phenomena in different ways.
Boeing’s corner-cutting and quality control issues are just one symptom of living in a fiat money system. As the dollar is debased, the incentive and ability to create solid, long-lasting products is degraded in kind. Manufacturing costs rocket upward as supplies, materials, logistics, storage, maintenance, insurance, wage demands, and every other production factor all increase, leading to a degradation in quality across the process as the irresistible temptation intensifies to prioritize minimizing costs over producing reliable, well-made, quality goods such as safe airplanes.
US M2 Money Supply (Billions)
When individuals and corporations realize that the money is worth less than it was a year ago, and in a year will be worth even less still, these cost-cutting measures become standardized matters of policy. Inflation expectations incentivize speed of production and cost-cutting over high-quality projects that take more time and money to make, but that will last much longer.
When central bankers turn on the printer and degrade the value of each dollar in circulation, they essentially steal not just money, but time, as any ability to meaningfully save for the future is diminished and short-term profits and speculation are rewarded over quality. The lifetime of hours you spend at work — time that could be spent with your family, on building a business, on creating great art, and on being a producer of lasting and valuable things — is shrunken so that bankers, politicians, and war profiteers can become richer.
And it happens regardless of “which side” is in office. This is how fiat money contributes to the degradation in the quality of goods, such as airplanes, and sends the long hours that we spend working to earn that money — whether you work at Boeing or somewhere else — into a slow-motion black hole torn open by the thievery of money printing. When bankers can create infinite amounts of the currency out of thin air, it means that long-term projects, entrepreneurship, and literally everything else that requires a lower time preference are disincentivized in favor of spending, speculating, and cutting corners anywhere possible.
But when it comes to maintaining the Welfare-Warfare state, the ability to print infinite money is essential. Without it, the war machine consistently supported by both Democrats and Republicans would cease to exist. Dollars would be limited, there would be a practical cap on spending that would impose fiscal discipline because the currency would be pegged to something — like gold — of intrinsic value and real scarcity. That means that all of Boeing’s fighter jets, drones, military helicopters, and ballistic missiles would have to be financed through direct taxation, which Americans would never accept.
It also means that Boeing would be far more incentivized to produce passenger jets that don’t fall apart on the runway. But unlike a direct tax, stealing value (and time) by printing money takes longer to notice as it slowly drives the dollar’s value down toward zero. In a system with loose money, inflation goes up and down at different rates during different periods, but if you zoom out, you can always rely on costs going up.
Until it passes the event horizon of hyperinflationary collapse, the debasement doesn’t happen all at once. The US dollar uses its unique world reserve currency status, enforced by the threat of violence, to delay this process and export dollar inflation to other countries. But this is how the proverbial frog is boiled. When it gets bad enough that common Americans do finally start to notice, presidents and other politicians blame “price gouging” and “corporate greed.” This would be a more honest assessment if the accusations of greed were turned inward:
Onto the bankers who enjoy the privilege of being first in line at the money printer, onto shamelessly corrupt Federal Reserve officials who take advantage of knowing exactly which economic levers are about to be pulled, onto the senators who make millions with suspiciously-serendipitous stock trades and pass bills written by lobbyists at the same corporations that funded their campaigns, and onto the presidents who encourage the Fed to print, print, and print some more so that the economy can be made to appear robust during their term in office.
Until central banking is fundamentally changed (or the Fed abolished entirely) with a hard money standard, expect more of the same. Until, of course, the dollar is finally printed into oblivion and a monetary reset forces the empire’s hand. When that day comes, it will be disastrous, and the regime will try to blame everyone and everything except itself as it presents an even more centralized, bigger government and bigger banking “solution.”
But it will also be an opportunity to replace the current system with something better. However, it will be up to the people to look past the propaganda to recognize the issue, and demand hard money — lest we surrender another hundred-plus precious years of stolen time to the bankers and their political cronies.
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY
Alasdair Macleod…
end
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
Indian government is now retreating from its war on gold
(Money Control)
Another sign that India’s government is retreating from the war on gold
Submitted by admin on Thu, 2024-07-25 14:30 Section: Daily Dispatches
By Shweta Punj, Meghna Mittal, and Bodhisatva Ganguli
Money Control, Mumbai
Thursday, July 25, 2024
The government may scale back or even discontinue the Sovereign Gold Bonds scheme, which it considers too expensive, a person familiar with the development said.
This move coincides with the Union budget cutting customs duties on gold and silver to 6% from 15%. The reduction in customs duty is expected to dampen demand for Sovereign Gold Bonds.
Following the tax cut, SGB prices on the National Stock Exchange fell by 2-5%.
The first tranche of SGBs, issued on November 30, 2015, reached its final redemption in November 2023. Investors who participated in the SGB scheme 2016-17, Series 1, issued in August 2016, are nearing their final redemption, which is set for the first week of August 2024. …
… For the remainder of the report:
https://www.moneycontrol.com/news/business/mc-exclusive-end-of-sovereign-gold-bonds-12778331.html
end
4. GOLD PODCASTS//LIVE FROM THE VAULT No 183 with Andrew Maguire and Craig Hemke
https://www.youtube.com/watch?v=VDjRZG47kEU
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COCOA
END
ASIA TRADING/FRIDAY MORNING/THURSDAY NIGHT
SHANGHAI CLOSED UP 4.16 PTS OR 0.14% //Hang Seng CLOSED UP 16.24 PTS OR 0.10% // Nikkei CLOSED DOWN 202.10 OR 0.53%//Australia’s all ordinaries CLOSED UP 0.73%///Chinese yuan (ONSHORE) closed DOWN TO 7,2519 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.2620/ Oil UP TO 78.01dollars per barrel for WTI and BRENT DOWN AT 82,00Stocks in Europe OPENED MOSTLY GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS FRIDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.2519
OFFSHORE YUAN: DOWN TO 7.2620
SHANGHAI CLOSED UP 4.16 PTS OR 0.14 %
HANG SENG CLOSED UP 16.24 PTS OR 0.10%
2. Nikkei closed DOWN 202.10 PTS OR 0.53%
3. Europe stocks SO FAR: ALL MOSTLY GREEN
USA dollar INDEX UP TO 104.15 EURO RISES TO 1.0855 UP 4 BASIS PTS
3b Japan 10 YR bond yield: RISES TO. +1,068 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 154.71 JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE END OF THE YEN CARRY TRADE
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold DOWN /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 UP for WTI and UP FOR Brent this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.4385/Italian 10 Yr bond yield UP to 3.780 SPAIN 10 YR BOND YIELD UP TO 3.286%
3i Greek 10 year bond yield UP TO 3.436
3j Gold at $2374.75//Silver at: 27.77 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 11/ 100 roubles/dollar; ROUBLE AT 86.12
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 154.71/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.068% STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.
30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8836as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9593 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: 4.479 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 4.429 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 33.00…
10 YR UK BOND YIELD: 4.1618 UP 3 PTS
10 YR CANADA BOND YIELD: 3.385 UP 1 BASIS PTS
2a New York OPENING REPORT
Futures Rebound From Thursday Rout Ahead Of Core PCE
FRIDAY, JUL 26, 2024 – 08:05 AM
One day after closing at the lowest level in more than a month, US equity futures have rebounded led by small-caps with tech names also in the green (NVDA +2.4%, META +2.0%, AMZN +1.2%, AAPL +97bp, GOOG/L +72bp). As of 8am ET, S&P futures are 0.8% higher while Nasdaq futs gain 1.1%, suggesting the underlying indexes will pare their weekly slump. Europe’s Stoxx 600 benchmark rose 0.5%. Treasuries and the dollar were little changed.. Bond yields are unchanged ahead of today’s core PCE print which is expected to show further easing in inflation. The USD is flat. Commodities are mixed: oil is lower while base metals/gold are higher. Today the key macro focus will be July’s core PCE which consensus sees dipping to 2.5% YoY vs. 2.6% prior.
In premarket trading, all the mega cap tech names are higher led by NVDA +2.4% (META +2.0%, AMZN +1.2%, AAPL +97bp, GOOG/L +72bp). 3M jumped 6% after the company raised its full-year profit forecast in a sign of progress as its new chief executive officer looks to reinvigorate the iconic manufacturer after a lengthy period of turmoil. Here are some other notable premarket movers:
- Baker Hughes climbs 1.9% after the oil-services provider posted a 2Q earnings beat.
- Biogen falls 6% after European drug regulators rejected an Alzheimer’s drug from the company and Eisai.
- Bristol Myers climbs 4% as the company raised its 2024 profit forecast after demand for its new medicines helped it beat Wall Street’s 2Q sales estimates.
- Booz Allen slips 5% after 1Q profit disappointed.
- Charter Communications gains 11% after posting 2Q profit that beat expectations.
- Coursera soars 26% after the online educational company reported 2Q revenue that topped the average analyst estimate.
- Deckers Outdoor rises 11% after the shoe company reported better-than-expected net sales for the first quarter and boosted its earnings per share forecast for the full year.
- Dexcom plunges 36% after the company cut its full-year sales forecast for the glucose monitoring devices relied upon by type 1 diabetics who need to closely track their blood sugar levels.
- Insulet rallies 4% after the insulin delivery system maker reported preliminary revenue for the 2Q that exceeded the average analyst estimate.
- Mohawk Industries rises 15% after the company beat Wall Street estimates for both 2Q earnings and 3Q guidance.
- Newell Brands rises 7% after boosting its operating cash flow forecast for the full year.
Dip-buyers are finally stepping back into stocks on Friday, a sign that the selloff which took the S&P 500 down almost 2% this week may be starting to ease. High-flying tech shares have been hammered the hardest in recent days amid a broader market retreat as concerns mounted over the scope for a US economic slowdown.
“Everything AI has been sold off,” said Kamil Dimmich, a partner at London-based North of South Capital. “Some of it is definitely justified, but for some stocks there may be opportunities for the longer term investor.”
Traders are now awaiting personal spending data which is expected to show inflation coming closer to the Fed’s target, which would give officials room to cut interest rates. Core PCE inflation is likely to be near 2% on a three-month annualized basis, Bloomberg Economics predict. That said, a soft landing for the US economy could slip away if noisy data delay a rate cut beyond September, according to Bloomberg Opinion columnist Mohamed A. El-Erian.
“We certainly think there is a danger that the Fed is reacting slowly,” given the low US savings rate, said Nick Rees, a foreign-exchange analyst at Monex Europe.
Still, “we doubt today’s data will change many minds on the FOMC. We don’t think the Fed has seen enough yet to cut rates next week,” he said.
Europe’s Stoxx 600 rises 0.4%, with all major markets higher, as a frenetic week of earnings is wrapping up and investors are waiting for the Fed’s inflation update. Consumer products and mining stocks lead the gains, while chemicals and food and beverage stocks are among the few sectors in the red. Among indivdual stocks, Birkin bag-maker Hermes gains as the group’s sales figures exceeded estimates, while Nestle extends losses after downgrades at Deutsche Bank and Berenberg. Here are the most notable European movers:
- Hermès shares rise as much as 5% as the Birkin handbag maker’s earnings reassured investors with sales growth topping estimates.
- NatWest shares rises as much as 9.1% to an eight-year high after the British bank reported second-quarter figures including a higher-than-expected pretax operating profit.
- EssilorLuxottica shares jump as much as 8.1% in Paris after the eyewear producer confirmed that Meta Platforms is interested in buying a stake in the company.
- Drax shares jump as much as 16%, the most since 2020, after the UK electricity generator reported first-half profit described as strong by analysts, and guided that FY24 will be toward the top end.
- Bureau Veritas shares rise as much as 9.4% after the French goods-inspection company reported faster-than-expected sales growth in 2Q and raised its outlook for the year.
- Valeo shares gain as much as 7.2% after the car parts manufacturer’s first-half Ebit beat expectations, with Deutsche Bank seeing modest consensus upgrades for the year.
- Nestle shares extend declines for a fourth straight session after the consumer goods giant was downgraded to hold from buy at Deutsche Bank and Berenberg.
- Capgemini shares slide as much as 9.4%, the biggest drop since July 2023, as it cut its growth guidance for the full year.
- Vallourec shares drop as much as 11%, the most since March 2023, after the tubular steel company’s full-year Ebitda guidance came in below estimates.
- Holcim shares fall as much as 3.8%, the most in a month, after the Swiss cement maker reported its latest earnings.
- Thyssenkrupp shares fall as much as 9.4% to its lowest in over four years after the German steel producer issued a profit warning on Thursday night.
- Signify shares decline as much as 9.3%, to a four-year low, after the lighting manufacturing company reported 2Q Ebita that missed the average analyst estimate.
Earlier in the session Asian stocks fell, set to cap a second-straight weekly decline, with heavyweight TSMC sliding as investors continued to rotate out of overheated AI trades while awaiting for key US inflation data. The MSCI Asia Pacific Index declined as much as 0.5%, to its lowest level in more than five weeks, with a gauge of tech stocks the biggest drag. Taiwan dropped the most in the region as trading resumed after disruptions caused by a typhoon. The slide offset gains in Australia, South Korea and India. Chinese shares were mixed.
In FX, the Bloomberg Dollar Spot Index is little changed; the Japanese yen falls 0.2% against the dollar, pushing USD/JPY up to ~154.20. The Swiss franc also falls 0.2%.
In rates, treasuries are steady ahead of US core PCE data for June, with US 10-year yields flat at 4.24%. Yields are mixed on the week with curve steeper as short end benefited from increased conviction on Fed rate cuts this year. Curve spreads slightly wider on the day after 2s10s, 5s30s reached least-inverted or steepest levels since May 2023 on Thursday but failed to sustain the moves and ended at flatter (or more deeply inverted) levels. Bunds underperform gilts and Treasuries across the curve.
In commodities, oil prices decline, with WTI falling 0.4% to near $78 a barrel. Spot gold rises $8 to around $2,372/oz. Most base metals trade in the green. Bitcoin climbs above USD 67k, with Ethereum also finding its footing and now holding around USD 3.2k.
Looking at today’s caendar, US economic data calendar includes June personal income and spending with PCE price indexes (8:30am), July final University of Michigan sentiment index (10am) and July Kansas City Fed services activity (11am) Fed officials have no scheduled appearances until after the next FOMC meeting ends July 31.
Market Snapshot
- S&P 500 futures up 0.7% to 5,478.50
- STOXX Europe 600 up 0.6% to 511.45
- MXAP down 0.4% to 178.38
- MXAPJ down 0.1% to 557.98
- Nikkei down 0.5% to 37,667.41
- Topix down 0.4% to 2,699.54
- Hang Seng Index little changed at 17,021.31
- Shanghai Composite up 0.1% to 2,890.90
- Sensex up 1.4% to 81,132.86
- Australia S&P/ASX 200 up 0.8% to 7,921.27
- Kospi up 0.8% to 2,731.90
- German 10Y yield +3.7 bps at 2.45%
- Euro little changed at $1.0844
- Brent Futures little changed at $82.31/bbl
- Gold spot up 0.3% to $2,371.48
- US Dollar Index little changed at 104.43
Top Overnight News
- Former US President Barack Obama and Michelle Obama announce their support for Kamala Harris’ candidacy for the US presidency of the Democratic Party
- Morgan Stanley commented to institutional clients on Thursday that computer-driven macro hedge fund strategies on Wednesday sold USD 20bln in equities and are set to shed at least USD 25bln over the next week after the stock rout, in one of the largest risk-unwinding events in a decade, according to Reuters
- While the United States has had a head start on A.I. development, China is catching up. In recent weeks, several Chinese companies have unveiled A.I. technologies that rival the leading American systems. And these technologies are already in the hands of consumers, businesses and independent software developers across the globe. NYT
- Japan’s Tokyo CPI for Jul cools to +1.5% (ex-food/energy), down 30bp from +1.8% in June and below the Street’s +1.6% forecast. BBG
- Apple dropped out of the top five smartphone sellers in China for the first time in four years in the second quarter, with the iPhone losing ground to models from domestic handset makers including Huawei. FT
- China is considering a tenfold fee increase to curtail high-frequency trading, its latest attempt to rein in some quant strategies deemed by regulators a threat to market fairness. BBG
- Mercedes dialed back expectations for the year amid an environment characterized by softer demand and intense competition (the stock isn’t doing much as the outlook cut was modest and sentiment is already cautious toward the industry). BBG
- Trains to and from Paris, including the Eurostar, were disrupted by what authorities called a coordinated sabotage effort ahead of the Olympic Games’ inaugural ceremony. Fires were set off at three critical rail-line nodes. Services won’t return to normal until Monday and at least 800,000 passengers will be affected. BBG
- JPMorgan Chase has begun rolling out a generative artificial intelligence product, telling employees that its own version of OpenAI’s ChatGPT can do the work of a research analyst. The US bank has given employees of its asset and wealth management division access to a large language model the bank is calling LLM Suite. FT
- Amazon is developing its own processors to limit its reliance on costly Nvidia chips – the so-called Nvidia tax – that power some of the artificial intelligence cloud business at its Amazon Web Services, the main growth driver. RTRS
- Elliott published a statement after the close and reiterated its call for a new leadership team at Southwest (“this failed leadership team’s announced initiatives – obvious attempts at self-preservation – are simply not credible. Too little, too late is not a strategy. It’s time for new leadership”). RTRS
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly higher as risk sentiment in Asia improved with markets finding some composure following the recent sell-off and with some encouragement from stronger-than-expected US GDP data. ASX 200 was led higher by outperformance in the commodity, materials, real estate and energy-related sectors. Nikkei 225 was choppy and briefly rose above 38,000 following mostly softer-than-expected Tokyo CPI. Hang Seng and Shanghai Comp. were varied with the former rangebound as it strived to stay above the 17,000 level, while the mainlained remained lacklustre amid lingering slowdown concerns despite another increased PBoC liquidity effort.
Top Asian News
- China SASAC said central state-owned enterprises in China are expected to arrange total investment of about CNY 3tln in large-scale equipment upgrades over the next five years.
- Hong Kong reappointed HKMA Chief Executive Eddie Yue for a term of 5 years effective October 1st.
- Typhoon Gaemi will start impacting Jiangxi, Hubei, Henan and Hebei provinces over the next three days and will bring powerful storms to affected areas, according to CCTV.
- Monetary Authority of Singapore maintained the width, centre and slope of the SGD NEER policy band, as expected. MAS said current monetary policy settings remain appropriate and the prevailing rate of appreciation of the policy band will keep a restraining effect on imported inflation. Furthermore, it noted that growth momentum in the Singapore economy should improve in the second half of 2024 and that GDP growth is likely to come in closer to its potential rate of 2–3% for the full year.
- China reportedly weighs tenfold fee increase on high-frequency traders, according to Bloomberg sources; the final plan is still under revision. China Securities Regulatory Commission and Chinese stock exchanges have consulted some market participants on draft plans to raise a CNY 0.1 (1.4%) fee on buy and sell orders to at least CNY 1 if the transactions meet the threshold of high-frequency trading, sources stated. Accounts with a monthly turnover rate below four times their total holdings may be exempt, to avoid negatively impacting mutual funds using automated trades.
- Japan’s Ministry of Finance reportedly wants the BoJ to cut bond purchases gradually; wants the BoJ to consider bank capacity in bond plan, according to Bloomberg sources
European bourses, Stoxx 600 (+0.6%) opened the session mixed and on either side of the unchanged mark, though sentiment picked up as the session progressed and generally reside near session highs. European sectors hold a positive bias; Consumer Products takes the top spot, propped by post-earning strength in Luxury name Hermes (+3.9%). Basic Resources and Energy are benefiting from strength in underlying metal prices. Chemicals is found near the foot of the pile, after BASF (-2.7%) and Wacker Chemie (-2.1%) both reported weak earnings. US equity futures (ES +0.6%, NQ +0.9%, RTY +1.9%) are entirely in the green, with the NQ and ES regaining their composure after being the subject of heavy selling pressure amid the recent rotation play, which has seen the RTY outperform in the past week. Focus today is on the US PCE at 08:30 EDT / 13:30 BST.
Top European News
- UK Chancellor Reeves said there is still more work to do on the ‘Pillar 1’ tax agreement and is optimistic for agreement by autumn, while she wants the tax burden on working people to be lower, but won’t make unfunded commitments and will make a statement on Monday about the state of public finances and public spending pressures. Furthermore, Reeves said she is going to fix the fiscal mess that the Tories left and wants fairer, sustainable tax on the wealthy but needs to strike the right balance, as well as noted that Labour wants to be pro-growth and pro-wealth creation, according to Reuters.
- UK Chancellor Reeves is expected to reveal a GBP 20bln hole in government spending for essential public services on Monday, paving the way for potential tax rises in the autumn budget, according to The Guardian
FX
- USD is mixed vs. peers with price action a reversal of recent sessions with the dollar faring worse against risk-sensitive currencies and better against havens. DXY remains within Thursday’s 104.08-45 range ahead of today’s key US PCE data.
- EUR/USD is currently respecting Thursday’s 1.0826-69 parameters with yesterday’s base holding above a slew of DMAs; 200 at 1.0818, 50 at 1.0810, 100 at 1.0796. Fresh EZ fundamentals are lacking in today’s session with the ECB’s SCE passing seeing the 12-month and 3-year projections held at prior levels.
- GBP is a touch firmer vs. the USD after a session of losses yesterday which dragged the pair from a 1.2913 peak to a 1.2849 low.
- USD/JPY is back on a 154 handle after Thursday’s wild ride. Overnight saw an uptick in Tokyo CPI (ex-fresh food) in the run-up to next week’s BoJ policy announcement, which has seen bets of potential action increase throughout the week. A 15bps hike is currently priced at 46%.
- Both antipodeans are attempting to atone for recent heavy losses alongside a pick-up in risk sentiment
Fixed Income
- USTs are flat and trade has been rangebound in the run-up to US PCE at 08:30 EDT / 13:30 BST. Focus is on the core metric which is seen in a 0.1% to 0.2% range, a 0.2% figure may not knock the narrative for September easing, but could impact pricing for the remainder of the year.
- Bunds are lower to the tune of 30 ticks, but remains above Thursday’s 131.95 base. There was no reaction to the ECB SCE, which saw 1 and 3-year inflation outlooks maintained.
- Gilt price action has largely mimicked that of Bunds; currently trading to the bottom end of today’s 97.46-97.77 band. Next UK-specific catalyst will be on Monday, where Chancellor Reeves will provide a fiscal update that is expected to show a GBP 20bln funding gap.
Commodities
- Crude is slightly softer and off overnight highs, in what has been a quiet session thus far. Brent sits in an USD 82.05-71/bbl parameter.
- Mixed trade across precious metals despite a steady USD, with modest upside seen in spot gold and palladium – albeit with gains capped ahead of US PCE- whilst spot silver underperforms. XAU sits in a current USD 2,355.87-,2379.48/oz intraday parameter.
- Base metals are mostly firmer and to varying degrees, with risk sentiment having picked up overnight.
- Hungarian PM aide Gulyas says the oil deliveries issue, with Ukraine, must be resolved by September and there is a risk of fuel shortages unless there is a resolution. No immediate risk to fuel supply.
- Citi says by Q4, it sees copper back at USD 9,500/t and rallying further to USD 11k/t by early 2025
Geopolitics – Middle East
- Israel is seeking changes to a plan for a Gaza truce and the release of hostages by Hamas which complicates a final deal, according to sources cited by Reuters. It was also reported that Israeli PM Netanyahu told hostage families that Israel will submit an updated ceasefire proposal to Hamas within two days, according to Axios.
- US President Biden expressed the need to close the remaining gaps and finalise the Gaza deal as soon as possible during the meeting with Israeli PM Netanyahu, while he also raised the need to remove obstacles to the flow of aid to Gaza.
- US VP Harris said she had a frank and constructive meeting with Israeli PM Netanyahu and she has unwavering commitment to Israel and its security, while she stands with families of hostages held in Gaza. Harris also expressed serious concerns about the scale of deaths in Gaza and noted that a two-state solution is the only viable path.
- White House said gaps remain in ceasefire talks but believes they can be closed and it believes they are closer to the ceasefire and hostage deal than ever before.
- It was expected that there would be a development in the hostage negotiations after the meeting between US President Biden and Israeli PM Netanyahu, while Netanyahu’s office informed the members of the mini-ministerial council that there is progress in the swap deal negotiation, according to Al Jazeera.
- Palestinian government said a Hamas leader in the West Bank died in Israeli captivity, according to Reuters.
- Houthi-affiliated media reports five US-British raids on Hodeidah airport, according to Sky News Arabia.
- Syrian Observatory said US warplanes targeted with heavy machine guns the areas of influence of pro-Iranian militias in the countryside of Deir Ezzor, eastern Syria, according to Sky News Arabia.
- Security source noted missile shelling targeting the vicinity of Ain al-Asad base which hosts international coalition forces, according to Asharq News.
Geopolitics – Other
- Chinese Foreign Minister Wang said in talks with his Indian counterpart that China-India relations have an important impact beyond the bilateral scope and it is in the interests of both sides to get China-India relations back on track. Wang also said they hope the two sides will work in the same direction and actively explore the correct way for the two neighbouring countries to get along.
US Event Calendar
- 08:30: June Core PCE Price Index MoM, est. 0.2%, prior 0.1%
- June PCE Price Index MoM, est. 0.1%, prior 0%
- June Core PCE Price Index YoY, est. 2.5%, prior 2.6%
- June PCE Price Index YoY, est. 2.4%, prior 2.6%
- June Personal Income, est. 0.4%, prior 0.5%
- June Personal Spending, est. 0.3%, prior 0.2%
- June Real Personal Spending, est. 0.3%, prior 0.3%
- 10:00: July U. of Mich. 1 Yr Inflation, est. 2.9%, prior 2.9%
- July U. of Mich. 5-10 Yr Inflation, est. 2.9%, prior 2.9%
- July U. of Mich. Sentiment, est. 66.4, prior 66.0
- July U. of Mich. Expectations, est. 67.5, prior 67.2
- July U. of Mich. Current Conditions, est. 64.4, prior 64.1
- 11:00: July Kansas City Fed Services Activ, prior 2
DB’s Jim Reid concludes the overnight wrap
The family are going camping for the weekend today without me. This is a mums and kids trip with Dads not invited which is a blessing as my view on camping is that I haven’t worked hard for nearly three decades to voluntarily sleep on grass and mud with a bad back. I would normally pack this weekend of freedom with golf but annoyingly I have yet another trapped nerve (neck and elbow) and have lost sensation in my two outer fingers. Yesterday I had about my 30th career MRI scan. All advise on anyone who has come out the other side for such a complaint greatfully received.
Scanning the market rather than my injuries, it’s been a rather wild ride over the past 24 hours with a risk-off tone ultimately dominating as the S&P 500 (-0.51%) fell for the sixth time in seven sessions even if futures are making a decent amount of this back in Asia overnight. Equities had initially looked on course for a decent rebound yesterday but slumped later on as the rotation trade away from tech mega caps again took hold. The Mag-7 (-1.06% yesterday) is now down nearly -13% since its record high on July 10, with the small cap Russell 2000 (+1.26%) outperforming it by a remarkable 24pp over this period. Meanwhile, bonds rallied with the 10yr Treasury yield down -4.3bps to 4.24% as rate cut hopes continued to inch higher despite a solid set of US data.
That included a decent Q2 US GDP report, which showed growth was running at an annualised +2.8% in Q2 (vs. +2.0% expected), up from the +1.4% pace in Q1. This pushed back on a building narrative of recent days, which basically implied that the US economy was about to turn sharply lower, and that the Fed needed to cut rates swiftly to prevent that. Indeed, the details from the report were also pretty good, as final sales to private domestic purchasers (which Chair Powell has cited as a good signal of underlying demand) were up by +2.6% for a second consecutive quarter. So it wasn’t as though a good headline number was masking weakness
underneath.
There were also other less dovish data elements. For instance, the GDP release showed that core PCE inflation was running at +2.9% in Q2 (vs. +2.7% expected). So unless there are revisions to April/May, this would imply a hotter than previously expected June number when released today. This will be an important print. Meanwhile, weekly initial jobless claims were down to 235k in the week ending July 20 (vs. 238k expected), and continuing claims were down to 1.851m (vs. 1.868m expected) over the week ending July 13.
Still, viewed across the day as a whole, there was no reversal of Fed easing hopes with some probability of either a move next week or a cut of more than 25bps by the September FOMC with markets pricing in 28.6bps of cuts by then as of yesterday’s close (+0.8bps on the day before). For what it’s worth, the first rate cuts in 2001 and 2007 were both 50bps, although both of those came in the context of imminent recessions. By contrast, when the last cutting cycle began in 2019, the Fed delivered three 25bp moves, until Covid hit in 2020 when they slashed rates more aggressively.
The fact that markets ended the day pricing more cuts perhaps reflects the tightening in financial conditions we’ve seen over the last week, with Bloomberg’s index of US financial conditions falling to its least accommodative level of 2024 so far.
That said the GDP print did cause some intra-day repricing as markets started more dovishly with 31bps of YE 2024 Fed cuts priced in pre-data. The 2yr yield also traded as low as 4.34% early on, its lowest level since early February, but was ultimately unchanged on the day at 4.43% by the close. The long end of the curve did rally on the day, as the 10yr yield fell -4.3bps to 4.24%, while the 30yr yield was down -5.9bps. So there was a decent curve flattening that took the 2s10s back to -19.2bps, which marked a reversal from earlier in the session when it had got as steep as -11.3bps.
For equities, it was a similarly volatile day. They started the day on the backfoot, but the S&P 500 then rallied to as much as +1.2% intra-day before giving up the gains to close -0.51% down. With the rotation theme dominating as mentioned at the top, the headline S&P decline came even as 58% of its constituents were higher on the day, with the equal-weighted version up +0.11%. There was also sizeable sectoral divergence, with energy (+1.47%) and industrials (+0.76%) stocks posting decent gains but information technology (-1.14%) and communications services (-1.86%) slumping. The heightened volatility was little helped by the ongoing earnings season, with notable movers including a -18.36% decline for Ford which had its worst session since the GFC.
Over in Europe, the major indices were all lower, which in large part reflected a catchup to the previous day’s selloff. Indeed, the STOXX 600 was down -0.72% on
the day, but that was actually a decent recovery from earlier in the session, when it had been down -1.66%. Europe did close just before the US market peaked for he day. The earlier mood wasn’t helped by some disappointing data releases that added to concerns over the health of the European growth cycle. In particular, the Ifo’s business climate indicator from Germany fell to 87.0 (vs. 89.0 expected), which was its third consecutive monthly decline, and the lowest reading since February. And in France, the INSEE business confidence (94 vs 99 expected) fell to its lowest level since February 2021, just before the Covid vaccine rollout.
In turn, this led investors to dial up their expectations for ECB rate cuts. By yesterday’s close, 53bps of cuts were priced by year end (+3.1bps on the day) and 111bps by the June 2025 meeting (+9.0bps). In turn, that helped sovereign bond yields to fall across the continent, with those on 10yr bunds (-2.6bps), OATs (-
2.9bps) and BTPs (-1.7bps) all moving lower.
Overnight, Asian equity markets are mostly recovering after their worst session since mid-April while shrugging off overnight weakness on Wall Street. Across the region, the KOSPI (+0.77%) is leading gains with the Nikkei (+0.50%) also edging higher. Elsewhere, the Hang Seng (+0.05%) and the CSI (+0.06%) are swinging between gains and losses while the Shanghai Composite (-0.19%) is slightly lower. S&P 500 (+0.39%) and NASDAQ 100 (+0. 45%) futures are rebounding again.
Early morning data showed that Japan’s Tokyo CPI core (excluding food) increased from +2.1% y/y to +2.2% y/y in July, in-line with market expectations and marking the third consecutive month of re-acceleration following a dip to +1.6% y/y in April. The data comes as speculation mounts that the BoJ will hike rates next week. Meanwhile, the Japanese yen (+0.08%) has stabilised near a 12-week high of 153.79 against the dollar.
To the day ahead now, and data releases include the US PCE inflation reading for June, along with personal income and personal spending. There’s also the University of Michigan’s final consumer sentiment index for July. From central banks, we’ll get the ECB’s Consumer Expectations Survey for June.
2B EUROPEAN REPORT
Sentiment improves with equities and antipodeans on the front foot, DXY flat ahead of US PCE – Newsquawk US Market Open
FRIDAY, JUL 26, 2024 – 05:47 AM
- European bourses are mostly higher as sentiment improves after the prior day’s hefty selling pressure; US futures entirely in the green, with clear outperformance in the RTY
- Dollar is flat ahead of today’s US PCE, safe havens lag whilst the Antipodeans gain in a slight reversal from price action this week
- USTs are rangebound, EGBs softer with European specifics-light
- Crude is incrementally softer and just off best levels, XAU gains alongside base metals
- Looking ahead, US PCE, Earnings from 3M, Aon & Bristol-Myers
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EUROPEAN TRADE
EQUITIES
- European bourses, Stoxx 600 (+0.6%) opened the session mixed and on either side of the unchanged mark, though sentiment picked up as the session progressed and generally reside near session highs.
- European sectors hold a positive bias; Consumer Products takes the top spot, propped by post-earning strength in Luxury name Hermes (+3.9%). Basic Resources and Energy are benefiting from strength in underlying metal prices. Chemicals is found near the foot of the pile, after BASF (-2.7%) and Wacker Chemie (-2.1%) both reported weak earnings.
- US equity futures (ES +0.6%, NQ +0.9%, RTY +1.9%) are entirely in the green, with the NQ and ES regaining their composure after being the subject of heavy selling pressure amid the recent rotation play, which has seen the RTY outperform in the past week. Focus today is on the US PCE at 08:30 EDT / 13:30 BST.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
- Click for a detailed summary
FX
- USD is mixed vs. peers with price action a reversal of recent sessions with the dollar faring worse against risk-sensitive currencies and better against havens. DXY remains within Thursday’s 104.08-45 range ahead of today’s key US PCE data.
- EUR/USD is currently respecting Thursday’s 1.0826-69 parameters with yesterday’s base holding above a slew of DMAs; 200 at 1.0818, 50 at 1.0810, 100 at 1.0796. Fresh EZ fundamentals are lacking in today’s session with the ECB’s SCE passing seeing the 12-month and 3-year projections held at prior levels.
- GBP is a touch firmer vs. the USD after a session of losses yesterday which dragged the pair from a 1.2913 peak to a 1.2849 low.
- USD/JPY is back on a 154 handle after Thursday’s wild ride. Overnight saw an uptick in Tokyo CPI (ex-fresh food) in the run-up to next week’s BoJ policy announcement, which has seen bets of potential action increase throughout the week. A 15bps hike is currently priced at 46%.
- Both antipodeans are attempting to atone for recent heavy losses alongside a pick-up in risk sentiment.
- Click for a detailed summary
- Click for NY OpEx Details
FIXED INCOME
- USTs are flat and trade has been rangebound in the run-up to US PCE at 08:30 EDT / 13:30 BST. Focus is on the core metric which is seen in a 0.1% to 0.2% range, a 0.2% figure may not knock the narrative for September easing, but could impact pricing for the remainder of the year.
- Bunds are lower to the tune of 30 ticks, but remains above Thursday’s 131.95 base. There was no reaction to the ECB SCE, which saw 1 and 3-year inflation outlooks maintained.
- Gilt price action has largely mimicked that of Bunds; currently trading to the bottom end of today’s 97.46-97.77 band. Next UK-specific catalyst will be on Monday, where Chancellor Reeves will provide a fiscal update that is expected to show a GBP 20bln funding gap.
- Click for a detailed summary
COMMODITIES
- Crude is slightly softer and off overnight highs, in what has been a quiet session thus far. Brent sits in an USD 82.05-71/bbl parameter.
- Mixed trade across precious metals despite a steady USD, with modest upside seen in spot gold and palladium – albeit with gains capped ahead of US PCE- whilst spot silver underperforms. XAU sits in a current USD 2,355.87-,2379.48/oz intraday parameter.
- Base metals are mostly firmer and to varying degrees, with risk sentiment having picked up overnight.
- Hungarian PM aide Gulyas says the oil deliveries issue, with Ukraine, must be resolved by September and there is a risk of fuel shortages unless there is a resolution. No immediate risk to fuel supply.
- Citi says by Q4, it sees copper back at USD 9,500/t and rallying further to USD 11k/t by early 2025
- Click for a detailed summary
NOTABLE DATA RECAP
- Swedish Unemployment Rate SA (Jun) 8.2% (Prev. 8.2%); Trade Balance (Jun) 8.7B (Prev. 11.9B, Rev. 10.4B); Total Employment (Jun) 5.429M (Prev. 5.187M)
- Norwegian Retail Sales Ex. Auto (Jun) -5.1% (Prev. 3.2%)
- French Consumer Confidence (Jul) 91.0 vs. Exp. 90.0 (Prev. 89.0, Rev. 90)
- Spanish Retail Sales YY (Jun) 0.3% (Prev. 0.2%)
- Italian Consumer Confidence (Jul) 98.9 vs. Exp. 98.0 (Prev. 98.3); Mfg Business Confidence (Jul) 87.6 vs. Exp. 87.0 (Prev. 86.8, Rev. 86.9)
NOTABLE EUROPEAN HEADLINES
- UK Chancellor Reeves said there is still more work to do on the ‘Pillar 1’ tax agreement and is optimistic for agreement by autumn, while she wants the tax burden on working people to be lower, but won’t make unfunded commitments and will make a statement on Monday about the state of public finances and public spending pressures. Furthermore, Reeves said she is going to fix the fiscal mess that the Tories left and wants fairer, sustainable tax on the wealthy but needs to strike the right balance, as well as noted that Labour wants to be pro-growth and pro-wealth creation, according to Reuters.
- UK Chancellor Reeves is expected to reveal a GBP 20bln hole in government spending for essential public services on Monday, paving the way for potential tax rises in the autumn budget, according to The Guardian.
NOTABLE US HEADLINES
- Former US President Barack Obama and Michelle Obama announce their support for Kamala Harris’ candidacy for the US presidency of the Democratic Party
- Morgan Stanley commented to institutional clients on Thursday that computer-driven macro hedge fund strategies on Wednesday sold USD 20bln in equities and are set to shed at least USD 25bln over the next week after the stock rout, in one of the largest risk-unwinding events in a decade, according to Reuters.
GEOPOLITICS
MIDDLE EAST
- Israel is seeking changes to a plan for a Gaza truce and the release of hostages by Hamas which complicates a final deal, according to sources cited by Reuters. It was also reported that Israeli PM Netanyahu told hostage families that Israel will submit an updated ceasefire proposal to Hamas within two days, according to Axios.
- US President Biden expressed the need to close the remaining gaps and finalise the Gaza deal as soon as possible during the meeting with Israeli PM Netanyahu, while he also raised the need to remove obstacles to the flow of aid to Gaza.
- US VP Harris said she had a frank and constructive meeting with Israeli PM Netanyahu and she has unwavering commitment to Israel and its security, while she stands with families of hostages held in Gaza. Harris also expressed serious concerns about the scale of deaths in Gaza and noted that a two-state solution is the only viable path.
- White House said gaps remain in ceasefire talks but believes they can be closed and it believes they are closer to the ceasefire and hostage deal than ever before.
- It was expected that there would be a development in the hostage negotiations after the meeting between US President Biden and Israeli PM Netanyahu, while Netanyahu’s office informed the members of the mini-ministerial council that there is progress in the swap deal negotiation, according to Al Jazeera.
- Palestinian government said a Hamas leader in the West Bank died in Israeli captivity, according to Reuters.
- Houthi-affiliated media reports five US-British raids on Hodeidah airport, according to Sky News Arabia.
- Syrian Observatory said US warplanes targeted with heavy machine guns the areas of influence of pro-Iranian militias in the countryside of Deir Ezzor, eastern Syria, according to Sky News Arabia.
- Security source noted missile shelling targeting the vicinity of Ain al-Asad base which hosts international coalition forces, according to Asharq News.
OTHER
- Chinese Foreign Minister Wang said in talks with his Indian counterpart that China-India relations have an important impact beyond the bilateral scope and it is in the interests of both sides to get China-India relations back on track. Wang also said they hope the two sides will work in the same direction and actively explore the correct way for the two neighbouring countries to get along.
CRYPTO
- Bitcoin advances and climbs above USD 67k, with Ethereum also finding its footing and now holding around USD 3.2k.
APAC TRADE
- APAC stocks were mostly higher as risk sentiment in Asia improved with markets finding some composure following the recent sell-off and with some encouragement from stronger-than-expected US GDP data.
- ASX 200 was led higher by outperformance in the commodity, materials, real estate and energy-related sectors.
- Nikkei 225 was choppy and briefly rose above 38,000 following mostly softer-than-expected Tokyo CPI.
- Hang Seng and Shanghai Comp. were varied with the former rangebound as it strived to stay above the 17,000 level, while the mainlained remained lacklustre amid lingering slowdown concerns despite another increased PBoC liquidity effort.
NOTABLE ASIA-PAC HEADLINES
- China SASAC said central state-owned enterprises in China are expected to arrange total investment of about CNY 3tln in large-scale equipment upgrades over the next five years.
- Hong Kong reappointed HKMA Chief Executive Eddie Yue for a term of 5 years effective October 1st.
- Typhoon Gaemi will start impacting Jiangxi, Hubei, Henan and Hebei provinces over the next three days and will bring powerful storms to affected areas, according to CCTV.
- Monetary Authority of Singapore maintained the width, centre and slope of the SGD NEER policy band, as expected. MAS said current monetary policy settings remain appropriate and the prevailing rate of appreciation of the policy band will keep a restraining effect on imported inflation. Furthermore, it noted that growth momentum in the Singapore economy should improve in the second half of 2024 and that GDP growth is likely to come in closer to its potential rate of 2–3% for the full year.
- China reportedly weighs tenfold fee increase on high-frequency traders, according to Bloomberg sources; the final plan is still under revision. China Securities Regulatory Commission and Chinese stock exchanges have consulted some market participants on draft plans to raise a CNY 0.1 (1.4%) fee on buy and sell orders to at least CNY 1 if the transactions meet the threshold of high-frequency trading, sources stated. Accounts with a monthly turnover rate below four times their total holdings may be exempt, to avoid negatively impacting mutual funds using automated trades.
- Japan’s Ministry of Finance reportedly wants the BoJ to cut bond purchases gradually; wants the BoJ to consider bank capacity in bond plan, according to Bloomberg sources
DATA RECAP
- Tokyo CPI YY (Jul) 2.2% vs. Exp. 2.3% (Prev. 2.3%); CPI Ex. Fresh Food YY (Jul) 2.2% vs. Exp. 2.2% (Prev. 2.1%); Ex. Fresh Food & Energy 1.5% vs. Exp. 1.6% (Prev. 1.8%)
2C ASIAN REPORT
APAC stocks benefited from the improved risk appetite, US PCE ahead – Newsquawk Europe Market Open
FRIDAY, JUL 26, 2024 – 01:34 AM
- APAC stocks were mostly higher as risk sentiment in Asia improved with markets finding some composure following the recent sell-off and with some encouragement from stronger-than-expected US GDP data.
- Morgan Stanley commented to institutional clients on Thursday that computer-driven macro hedge fund strategies on Wednesday sold USD 20bln in equities and are set to shed at least USD 25bln over the next week after the stock rout, in one of the largest risk-unwinding events in a decade, according to Reuters.
- Israel is seeking changes to a plan for a Gaza truce and the release of hostages by Hamas which complicates a final deal, according to sources cited by Reuters.
- UK Chancellor Reeves is expected to reveal a GBP 20bln hole in government spending for essential public services on Monday, paving the way for potential tax rises in the autumn budget, according to The Guardian.
- European equity futures indicate a slightly positive open with Euro Stoxx 50 futures up 0.1% after the cash market finished with losses of 1.0% on Thursday.
- Looking ahead, highlights include German Import Prices, Spanish Retail Sales, Italian Business Manufacturing Confidence, US PCE, ECB SCE, Earnings from Holcim, Capgemini, Air Liquide, Mercedes-Benz, Wacker Chemie, BASF, NatWest, 3M, Aon & Bristol-Myers.
More Newsquawk in 3 steps:
1. Subscribe to the free premarket movers reports
2. Listen to this report in the market open podcast (available on Apple and Spotify)
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US TRADE
EQUITIES
- US stocks finished mixed and saw two-way price action following the recent bloodbath and as participants digested key data releases including US GDP and Core PCE for Q2 which both printed hotter than expected. Nonetheless, there were late headwinds towards the close amid a sell-side imbalance and the Nasdaq underperformed as some of the tech woes lingered with Alphabet (GOOGL) shares extending on losses, particularly after a report that OpenAI is to introduce “SearchGPT”.
- SPX -0.5% at 5,399, NDX -1.1% at 18,831, DJIA +0.2% 39,953, RUT +1.3% at 2,223
- Click here for a detailed summary.
NOTABLE HEADLINES
- Former President Trump leads Vice President Harris 48-46% among registered voters, according to a New York Times/Siena College poll while the margin of error is 3.3 points.
- Morgan Stanley commented to institutional clients on Thursday that computer-driven macro hedge fund strategies on Wednesday sold USD 20bln in equities and are set to shed at least USD 25bln over the next week after the stock rout, in one of the largest risk-unwinding events in a decade, according to Reuters.
APAC TRADE
EQUITIES
- APAC stocks were mostly higher as risk sentiment in Asia improved with markets finding some composure following the recent sell-off and with some encouragement from stronger-than-expected US GDP data.
- ASX 200 was led higher by outperformance in the commodity, materials, real estate and energy-related sectors.
- Nikkei 225 was choppy and briefly rose above 38,000 following mostly softer-than-expected Tokyo CPI.
- Hang Seng and Shanghai Comp. were varied with the former rangebound as it strived to stay above the 17,000 level, while the mainlained remained lacklustre amid lingering slowdown concerns despite another increased PBoC liquidity effort.
- US equity futures mildly gained alongside the improved mood in Asia but with upside capped as PCE data looms.
- European equity futures indicate a slightly positive open with Euro Stoxx 50 futures up 0.1% after the cash market finished with losses of 1.0% on Thursday.
FX
- DXY was contained in a tight range following yesterday’s mixed performance against major peers, with only brief support seen after US GDP data for Q2 topped forecasts and Core PCE Prices printed firmer-than-expected but notably eased from the prior quarter, while the focus now shifts to the incoming monthly PCE Price data for June.
- EUR/USD edged slight gains after recent whipsawing and with little in the way of tier-1 releases from the EU today.
- GBP/USD mildly rebounded off a floor around the 1.2850 level but with trade constrained ahead of the key US data later and with UK Chancellor Reeves to deliver a statement on Monday about the state of public finances and public spending pressures.
- USD/JPY traded indecisively with some support seen after mostly softer-than-expected Tokyo CPI which facilitated an early reclaim of the 154.00 status although this was only brief as participants continued to second-guess next week’s BoJ decision.
- Antipodeans mildly benefitted from the improved risk appetite which provided some reprieve from their recent drop to multi-month lows.
FIXED INCOME
- 10-year UST futures traded rangebound after recent price swings and curve flattening, while the latest 7-year auction was stronger and attracted a larger bid-to-cover than the previous, while the participants now await PCE Price data.
- Bund futures faded the prior day’s mild gains after pulling back from just shy of the 133.00 level.
- 10-year JGB futures were supported at the open after Tokyo CPI data printed softer than expected, while results of the 2-year JGB auction were mixed with a higher bid-to-cover and lower accepted prices.
COMMODITIES
- Crude futures remained afloat as risk assets regained some composure following the recent sell-off.
- Spot gold eked mild gains alongside a flat dollar and as participants await the Fed’s preferred inflation gauge.
- Copper futures were mildly supported amid the mostly improved sentiment in Asia.
CRYPTO
- Bitcoin gained alongside the improved risk sentiment and briefly climbed back above the USD 67,000 level.
NOTABLE ASIA-PAC HEADLINES
- China SASAC said central state-owned enterprises in China are expected to arrange total investment of about CNY 3tln in large-scale equipment upgrades over the next five years.
- Hong Kong reappointed HKMA Chief Executive Eddie Yue for a term of 5 years effective October 1st.
- Typhoon Gaemi will start impacting Jiangxi, Hubei, Henan and Hebei provinces over the next three days and will bring powerful storms to affected areas, according to CCTV.
- Monetary Authority of Singapore maintained the width, centre and slope of the SGD NEER policy band, as expected. MAS said current monetary policy settings remain appropriate and the prevailing rate of appreciation of the policy band will keep a restraining effect on imported inflation. Furthermore, it noted that growth momentum in the Singapore economy should improve in the second half of 2024 and that GDP growth is likely to come in closer to its potential rate of 2–3% for the full year.
DATA RECAP
- Tokyo CPI YY (Jul) 2.2% vs. Exp. 2.3% (Prev. 2.3%)
- Tokyo CPI Ex. Fresh Food YY (Jul) 2.2% vs. Exp. 2.2% (Prev. 2.1%)
- Tokyo CPI Ex. Fresh Food & Energy YY (Jul) 1.5% vs. Exp. 1.6% (Prev. 1.8%)
GEOPOLITICAL
MIDDLE EAST
- Israel is seeking changes to a plan for a Gaza truce and the release of hostages by Hamas which complicates a final deal, according to sources cited by Reuters. It was also reported that Israeli PM Netanyahu told hostage families that Israel will submit an updated ceasefire proposal to Hamas within two days, according to Axios.
- US President Biden expressed the need to close the remaining gaps and finalise the Gaza deal as soon as possible during the meeting with Israeli PM Netanyahu, while he also raised the need to remove obstacles to the flow of aid to Gaza.
- US VP Harris said she had a frank and constructive meeting with Israeli PM Netanyahu and she has unwavering commitment to Israel and its security, while she stands with families of hostages held in Gaza. Harris also expressed serious concerns about the scale of deaths in Gaza and noted that a two-state solution is the only viable path.
- White House said gaps remain in ceasefire talks but believes they can be closed and it believes they are closer to the ceasefire and hostage deal than ever before.
- It was expected that there would be a development in the hostage negotiations after the meeting between US President Biden and Israeli PM Netanyahu, while Netanyahu’s office informed the members of the mini-ministerial council that there is progress in the swap deal negotiation, according to Al Jazeera.
- Palestinian government said a Hamas leader in the West Bank died in Israeli captivity, according to Reuters.
- Houthi-affiliated media reports five US-British raids on Hodeidah airport, according to Sky News Arabia.
- Syrian Observatory said US warplanes targeted with heavy machine guns the areas of influence of pro-Iranian militias in the countryside of Deir Ezzor, eastern Syria, according to Sky News Arabia.
- Security source noted missile shelling targeting the vicinity of Ain al-Asad base which hosts international coalition forces, according to Asharq News.
OTHER
- Chinese Foreign Minister Wang said in talks with his Indian counterpart that China-India relations have an important impact beyond the bilateral scope and it is in the interests of both sides to get China-India relations back on track. Wang also said they hope the two sides will work in the same direction and actively explore the correct way for the two neighbouring countries to get along.
EU/UK
NOTABLE HEADLINES
- UK Chancellor Reeves said there is still more work to do on the ‘Pillar 1’ tax agreement and is optimistic for agreement by autumn, while she wants the tax burden on working people to be lower, but won’t make unfunded commitments and will make a statement on Monday about the state of public finances and public spending pressures. Furthermore, Reeves said she is going to fix the fiscal mess that the Tories left and wants fairer, sustainable tax on the wealthy but needs to strike the right balance, as well as noted that Labour wants to be pro-growth and pro-wealth creation, according to Reuters.
- UK Chancellor Reeves is expected to reveal a GBP 20bln hole in government spending for essential public services on Monday, paving the way for potential tax rises in the autumn budget, according to The Guardian.
2C) JAPAN
JAPAN
3 CHINA
CHINA/
end
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
FRANCE/OLYMPICS
Co ordinated sabotage paralyzes France’s rail network
(zerohedge)
“Coordinated Sabotage” Paralyzes France’s Rail Network As Olympics Begin
FRIDAY, JUL 26, 2024 – 07:54 AM
A “coordinated sabotage” has paralyzed France’s high-speed train network, impacting a quarter million travelers. The number is set to rise to 800k by the end of the weekend, ahead of the opening ceremony of the Paris Olympics.
#SNCF trains in France at a standstill after ‘massive’ arson attack: Chaos for 800,000 travellers. The attack happened just before the #ParisOlympics2024 opening ceremony and a very busy weekend of summer travel. #Paris2024 #OlympicGames
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World Times
@WorldTimesWT
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Hours before the opening ceremony of the Paris Olympics, the French high-speed rail network was hit by ‘malicious’ arson attacks, disrupting the transport system of the host country for the world’s biggest sporting event. Many routes are reportedly being canceled and close to
·
16.6K Views
In a post on X, French state railway company SNCF described the overnight fire and cutting of critical signal cables near the tracks in Courtalain, northern France, impacting services to Paris, as a “massive attack aimed at paralyzing the high-speed line network.”
SNCF said a “large number of trains were diverted or canceled” and requested that “all travelers who can postpone their trip and not go to the station.”
The French prime minister has pledged to “find and punish” those responsible for the attack on critical infrastructure.
“Our intelligence services and law enforcement agencies are mobilized to find and punish the perpetrators of these criminal acts,” acting prime minister Gabriel Attal said.
It remains unclear who is behind the sabotage, but some Western media outlets have quickly suggested ‘Russia – Russia – Russia.’
“The sabotage marks a stunning breach of the sweeping security dragnet that France erected to shield the Games from myriad threats, ranging from Islamist terrorist groups to state-sponsored sabotage planned by adversaries such as Russia or Iran,” The Wall Street Journal said.
Jean de Gliniasty, the former French ambassador to Moscow, told French media outlet La Chaîne Info, “We are obviously in a situation of conflict with Russia, and Russia is obviously not going to do anything, and that’s an understatement, to help these Olympic Games be a success.”
However, an intelligence source told CNN that French intelligence services are also investigating ‘the far left.’
https://twitter.com/michaelh992/status/181676248997709420
Gliniasty also addressed the far left threat: “There’s a tradition in France of black blocs, every time there’s a demonstration they destroy, they break things. In fact, France has been facing these problems for several years now, and we haven’t managed to solve them. And so now, of course, it’s getting out of hand.”
Let’s not forget that France and the rest of Europe have seen a significant influx of migrants from third-world countries over the years. There is a risk that some of these migrants could be members of known terrorist groups with intentions to destroy the West.
The sabotage incident, with the saboteurs unknown at this point, should be a wake-up call to the US ahead of the elections.
END
Europe is falling apart: they are now discarding the will of the people
(zerohedge)
To Hell With The Will Of The People…
FRIDAY, JUL 26, 2024 – 03:30 AM
The globalist left is increasingly unscrupulous in its disregard for the voters’ choice.
The third-strongest faction, the Patriots for Europe, will not have a single official in the European Parliament. It won’t happen, because the globalist-Jacobin majority —which, for the sake of simplicity, is mostly called “the left” — is violating all written rules and customary law and ignoring the will of the people and has now prevented it. The Ursulas announced that, in their opinion, the sovereigntist faction — largely created by Viktor Orbán— is far-right and, as such, anti-Europe, anti-progress and anti-humanity, and therefore should be quarantined, isolated and suffocated.
There is no talk of their deportation yet, but based on the dynamics of events, this may even happen in a few years.
Germany’s Manfred Weber, of the group of the European People’s Party listens during a press briefing at the European Parliament in Strasbourg. (AP Photo/Jean-Francois Badias)
So the Patriots get nothing, let alone positions — perhaps even eventually a few bullets, like Fico and Trump. This is how people’s representation “works” for the champions of democracy in Brussels.
In fact, one of the pillars of Ursula von der Leyen’s forthcoming five-year EU commission presidency will be to break down resistance to the imperialism of the EU, to remove the veto of small states, especially the meddling Hungary. If there is no veto, everyone will do what the big ones want. In other words: “Shut up!”
Now, imagine for a moment that in the Hungarian parliament, opposition parties could not nominate vice-presidents to head the House, could not have committee chairs and vice-chairs. Obviously, the problem is with the Hungarian conception of democracy, but in this country such a thing has not even been thought of — neither during the period of left-wing nor right-wing governments did anyone think of such a despicable act, such disregard for the will of the electorate. But Brussels has done so without scruples. They take part in this disgusting act and in the meantime, act as if nothing had happened, as they continue lecturing us about democracy, the rule of law, checks and balances.
Where is the respect for the will of the voters? The rule of the people? The principle of popular sovereignty? Of course, we Hungarians have a dictatorship on the rampage, where even with a two-thirds majority from Fidesz, there is always an opposition leader (this time Zoltán Sas, a Jobbik member of the National Security Committee), not to mention the opposition deputy speakers of the National Assembly and many other officials.
So goes the trampling of voters by the European People’s Party (EPP). In order to give the globalists a majority, Manfred Weber, with the spine of a snail, has teamed up with the Bolsheviks — as if he had just been ordered to do so by text message. He lured the more naive right-wingers to his side with blatant lies and nationalist promises, only to be swept away by the left’s agenda.
Even though his voters are fed up with illegal migrants, Weber and his crew do not care — with their approval they will continue to fly and ship millions of Africans and Asians into the continent because the population replacement must continue. Weber is like a hijacker: He has hijacked the right-wing vote. If I say that this figure is a fraud, a scoundrel traitor, a moral lunatic, I am certainly putting it too mildly.
But it’s not just the will of the voters that globalists ignore. A few years ago, during one of the hearings of the show trials against Hungary, the European Parliament failed to get the necessary number of votes for the next “yes” vote, so the vote was repeated the next day, citing “technical reasons.” So it was done. Ursula can roll her dice all she wants at home until she gets the position she wants, it’s a private matter. But the Union is not a flea circus, and we didn’t join it to be the playthings of evil villains who wipe their muddy boots on us every day.
The same was done when the Sargentini report was adopted: Abstentions were not taken into account, in violation of the EU treaties and the European Parliament’s Rules of Procedure, because that was the only way to force through the opening of Article 7 proceedings against our country. Of course, the European Court of Justice later legalized this breach of the law, but there is nothing surprising in that. The law is just a front for them; they are in fact the people’s commissioners of the open society. See their latest gigantic penalty against Hungary in the quota case.
The Ursulas are just puppets, doing whatever the Democratic puppet masters in Washington want them to do. It is therefore theoretically impossible for them to carry out what the majority of European voters want and what they are supposed to have been entrusted with. They are not interested in, and are even irritated by, the fact that the majority of Europeans do not want population replacement, multiculturalism, war, sanctions and war inflation.
In the autumn of 2022, German Foreign Minister Annalena Baerbock summed up perfectly the Western elite’s view of democracy: “But if I promise the people of Ukraine that we will be on their side for as long as they need us, I intend to deliver. No matter what my German voters think.” Really, what do the voters’ opinions matter, right? The will of the people. The people are stupid, but the clever Baerbocks will do it for them. And if all these “smart” Baerbocks happen to start a world conflagration (apparently that’s their goal), so be it. We would have liked to have launched these half-wits into space in time.
Even in the supposed home of democracy, the United States, much is made of the opinion of the electorate, respecting the will of the people. For months, for years, people have been saying how healthy, how fresh and fresh in spirit President (Biden) is. Their soapboxes have been slamming the table, repeating that Biden is not lost in his own backyard, that he is not dozing off during a meeting, that it is all a lie of right-wing propaganda.
My favorite is the “fact-finding” by the Soros group Lakmusz, in which they proved, even in the moments before the fall, that footage of the president wandering around was manipulated.
Then Biden was pushed back from the presidential nomination like a draft. But the operators of the Biden remote control are betting big that millions of Americans put their faith in this old man in the Democratic primaries this spring after all. And when he was put in the Democratic seat, they knew exactly what a desperate state he was in: He was no less stammering and rambling then than he is now. So they had to have it, and the will of the people should be respected. By the way, if Biden is as unfit to run for president as he is now said to be — and as he was in 2020, by the way, but his caretakers denied it then — is he not unfit to run for president for the remaining six months?
It is getting more and more hypocritical, more and more shabby, both over there and here in Brussels. The way they blather on about democracy, the rule of law, diversity and solidarity.
The way they try to make you believe that they are democrats, while if you dare to say anything different from them, they threaten you, blackmail you, take your money and send you to Kyiv. Lately they’ve been talking about expelling us.
Elina Valtonen, the Finnish foreign minister, recently predicted that “Hungary should think about whether it is right for it to be a member of the EU, given its different values.”
OK, we will think about it.
There can be only one thing of value: what they have.
Only one opinion: theirs.
And only one party: the socialist-green-communist-democratic-rainbow coalition.
The future Party.
Everyone else is a Nazi. The cheeky people too, because despite the brainwashing they no longer applaud enthusiastically enough.
end
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL / USA
Netanyahu’s meeting with Biden basically inconsequential
(zerohedge)
Netanyahu’s Meeting With Lame Duck Biden Was As Inconsequential As Anyone Expected
THURSDAY, JUL 25, 2024 – 05:40 PM
A lame duck president meets with the leader of America’s closest Mideast ally, who happens to be wanted by the International Criminal Court (ICC) for war crimes, and the whole thing was somewhat predictably boring and lacking in much substance.
Israeli Prime Minister Benjamin Netanyahu met with President Joe Biden on Thursday where the two reportedly discussed closing the remaining “gaps” for a Gaza ceasefire deal (a ceasefire deal that it appears Netanyahu doesn’t actually want, having vowed to fully eradicate Hamas on the battlefield).
But as we’ve discussed before, Netanyahu is essentially waiting out Biden, in hopes that Trump enters office. Trump is perceived by the Israelis as willing to give its military more free reign in its Gaza offensive. Politico had reported on Sunday that Netanyahu will likely delay Gaza ceasefire talks for at least another three months until after the US presidential election. In 2020 he called Trump “the best friend that Israel has ever had in the White House.”
Netanyahu is now being widely accused of intentionally stalling progress on a ceasefire, until a new chapter in relations with the White House opens.
As Biden looked like he struggled to stay awake and focus, Netanyahu praised the Democratic president and career politician for five decades of supporting Israel.
“From a proud Jewish Zionist to a proud Irish-American Zionist, I want to thank you for 50 years of public service and 50 years of support for the state of Israel,” he said.
But just within the last months Netanyahu has repeatedly slammed Biden administration policy, particularly after the paused weapons shipment of heavy bombs, with the White House citing the likelihood that using them would result in mass civilian deaths among Palestinians.
These tensions were apparently still on display to some degree on Thursday. According to a debriefing of their meeting:
At a news briefing, national security spokesman John Kirby said that Mr Biden and Mr Netanyahu discussed the urgent need for a hostage release deal, the potential of conflict spilling over into Lebanon, the threat of Iran and the need to reach “compromises” in peace talks.
While Mr Kirby added that “gaps remain” in the US-Israel relationship, the countries have a “healthy relationship”.
“By healthy, I mean they’re not going to agree on everything,” Mr Kirby said, adding that Mr Biden was “very comfortable with the relationship he has with the prime minister”.
And there was plenty of pushback from the press concerning the Oval Office meeting at a time Palestinian civilians continue to be slaughtered by the blunt force that is the IDF offensive in Gaza…
Netanyahu is expected on Friday to meet with former President Donald Trump in Mar-A-Lago on Friday,. Likely the mood will be much ‘warmer’ as Bibi expects a future Trump administration will involve even more of a ‘blank check’ for Israel than what it already receives. The Israeli leader is also soon to meet with VP Kamala Harris.
* * *
Meanwhile…
end
ISRAEL HAMAS/USA
Ben-Gvir Endorses Trump, Says He’s More Likely to Back War On Iran
THURSDAY, JUL 25, 2024 – 10:35 PM
Authored by Brett Wilkins via Common Dreams,
Israeli National Security Minister Itamar Ben-Gvir endorsed former U.S. President Donald Trump—the 2024 Republican nominee—for the White House in an interview published Wednesday in which he accused the Biden administration of preventing Israel from winning its war in Gaza.
“I believe that with Trump, Israel will receive the backing to act against Iran,” Ben-Gvir, who heads the far-right Otzma Yehudit (Jewish Power) party, told Bloomberg. “With Trump, it will be clearer that enemies must be defeated.”
“A cabinet minister is supposed to maintain neutrality,” the 48-year-old minister conceded, “but that’s impossible to do after [U.S. President Joe] Biden.”
“The U.S. has always stood behind Israel in terms of armaments and weapons, yet this time the sense was that we were being reckoned with—that we were trying to be prevented from winning. That happened on Biden’s watch and fed Hamas with lots of energy,” added Ben-Gvir, who was convicted in 2007 of incitement to racism after he advocated the ethnic cleansing of Palestinians.
While Biden, U.S. Secretary of State Antony Blinken, and other administration officials have decried Israel’s often indiscriminate bombing of Gaza and high civilian casualties—at least 140,000 Palestinians killed, injured, or missing, according to local and international agencies—the U.S. has approved billions of dollars in new military aid and more than 100 arms sales to Israel since October.
During his White House tenure, Trump—who boasted that he “fought for Israel like no president ever before”—moved the U.S. Embassy from Tel Aviv to Jerusalem and brokered the Abraham Accords between Israel and Arab nations Bahrain, Morocco, Sudan, and the United Arab Emirates.
Trump has said that Israel should “get the job done” in Gaza, while criticizing the Israel Defense Forces for posting videos showing its obliteration of the embattled Palestinian enclave.
“I don’t know why they released wartime shots like that. I guess it makes them look tough. But to me, it doesn’t make them look tough,” Trump said in April. “They’re losing the PR war. They’re losing it big. But they’ve got to finish what they started, and they’ve got to finish it fast, and we have to get on with life.”
While Trump says he wants a deal with Iran to prevent it from developing nuclear weapons, as president he unilaterally withdrew the U.S. from the Joint Comprehensive Plan of Action—also known as the Iran nuclear deal—and oversaw a “maximum pressure” campaign against Tehran featuring deadly economic sanctions.
On the advice of Iran hawks in his administration including then-Secretary of State Mike Pompeo, Trump also ordered the January 2020 assassination of Iranian Islamic Revolutionary Guard Corps Gen. Qasem Soleimani in Iraq.
Ben-Gvir’s interview was published as Israeli Prime Minister Benjamin Netanyahu was set to address a joint meeting of U.S. Congress Wednesday in Washington, D.C. A growing number of Democratic lawmakers have called for not only a cease-fire in Gaza but also a suspension of U.S. military aid to Israel, whose conduct in the war is on trial for genocide at the International Court of Justice.
Dozens of Democratic lawmakers and Independent Sen. Bernie Sanders of Vermont skipped Netanyahu’s Wednesday’s speech. Vice President Kamala Harris, who is also the Senate president, did not preside over Wednesday’s session. Harris, who is the presumptive Democratic presidential nominee in the wake of Biden’s withdrawal from the race on Sunday, said she will meet privately with Netanyahu on Thursday.
Echoing calls from groups including CodePink and the Council on American Islamic Relations, Rep. Rashida Tlaib (D-Mich.) said this week that the prime minister should be arrested for war crimes and genocide.
Karim Khan, the International Criminal Court prosecutor, has applied for arrest warrants for Netanyahu, Israeli Defense Minister Yoav Gallant, and three Hamas leaders for alleged war crimes including extermination committed on and after October 7.
end
ISRAEL/HAMAS/USA/
Harris is very dangerous!
(Jerusalem Post)
Harris’s words could harm hostage deal talks, senior Israeli official says
Harris surprised Prime Minister Benjamin Netanyahu and those close to him by issuing her statement, which she also placed on X shortly after her hour-long meeting with him.
By TOVAH LAZAROFFJULY 26, 2024 07:11Updated: JULY 26, 2024 08:37
Vice President Kamala Harris may have made it more difficult to close a hostage deal, a startled senior Israeli official said after hearing the remarks she issued to the press late Thursday afternoon.
“We hope that it won’t make it harder to achieve a hostage deal because it gives the appearance of day light between Israel and the United States,” the official said.
Harris surprised Prime Minister Benjamin Netanyahu and those close to him by issuing her statement, which she also placed on X shortly after her hour-long meeting with him.
They spoke in the aftermath of his conversation at the White House with US President Joe Biden in the early afternoon and in advance of his scheduled meeting with Republican presidential candidate Donald Trump.
Harris became the presumptive Democratic presidential nominee on Sunday when Biden withdrew from the race and her meeting with Netanyahu was her first with a foreign dignitary since she embarked on the campaign trail.
Netanyahu has used his visit to the United States to meet with Harris and Trump to help strengthen those ties, given that one of them is likely to become the US president in January.
Netanyahu and Harris briefly shook hands at the start of their meeting, which was closed to the media. There were no joint statements at the end.
Tensions in US-Israel relationship
During the conversation, Netanyahu and those with him emphasized to Harris how important it was for the negotiations that the US and Israel present a united front with regard to the principled points of the deal, which is being negotiated by Qatar and Egypt with help from the Biden administration.
It believed that the discord between the two allies, Israel and the United States, emboldened Hamas to harden its position.
Netanyahu believes that the resounding applause he received during his speech to the joint session of Congress on Wednesday and overall US support along with IDF military pressure in Gaza, has helped sway Hamas to make a deal to secure the release of the remaining 115 captives in Gaza.
The importance of unity with regard to the hostage deal was clear during the meeting Netanyahu held with Biden, which lasted for an hour and a half, an official explained.
“The more our enemies see that there is a unified position between Israel and the US,” a senior official said, the more “we increase the chance of securing the release of the hostages, and decrease the chance of a regional war.”
“The larger the divide – the more we move away from a deal and thus we also increase the possibility of a military flare-up,” the official stated.
At issue for Netanyahu and his team was Harris’s statement about how Israel would completely withdraw from Gaza at the end of phase two of the deal.
The issue of a permanent ceasefire had been one of the sticking points of the agreement, with Hamas initially insisting that Israel must first pledge to a permanent ceasefire before it would free any hostages.
Hamas’s decision to drop that demand was one of the critical steps that brought both sides close to a deal, in which the question of a permanent ceasefire would be discussed starting on day 16, of the 42-day phase one of the deal.
Netanyahu in his joint speech to Congress had emphasized the importance of a complete military victory over Hamas, a point which the Prime Minister has also repeatedly stressed in Israel.
The three-phase proposal is designed to create a narrow balancing act between the positions held by Hamas and Israel, that lets a deal get underway, while fully addressing the issue of a permanent ceasefire.
Harris, however, in her statement made it appear as if the deal would definitely include a complete IDF withdrawal from Gaza in phase 2, a step that has not been agreed upon. In a de-facto way, she gave Hamas a pledge of a permanent ceasefire before the deal got underway.
Israeli officials were also frustrated by Harris’s characterization of the food insecurity in Gaza, explaining that Netanyahu had also emphasized to Harris how many steps Israel was taking to provide humanitarian assistance to Palestinians in Gaza.
None of the Hamas fighters Israel has captured in Gaza has shown signs of starvation, an official noted.
One official said, ‘I was surprised by her statement,” adding that she was more “aggressive” in her press remarks than she had been during her conversation with Netanyahu.
end
Netanyahu Angry After Meeting With Vice President Harris
FRIDAY, JUL 26, 2024 – 11:55 AM
Israeli Prime Minister Benjamin Netanyahu was angered by Vice President Kamala Harris’ on-camera statement following their Thursday meeting, and he now says the words threaten to sabotage any potential peace deal with Hamas.
Diplomats speaking with Axios said Netanyahu’s criticism stems from Harris speaking as if a ceasefire and hostage exchange would mark the final end of the war in Gaza, whereas Israel’s position has all along been that counter-Hamas operations could resume even if a hostage deal is reached.
Following the Harris-Netanyahu meeting which lasted about 40 minutes, the Vice President said “It is time for this war to end in a way where Israel is secure, all the hostages are released, the suffering of Palestinians in Gaza ends and the Palestinian people can exercise their right to freedom, dignity and self determination.”
She added: “And as I just told Prime Minister Netanyahu it is time to get this deal done. Let’s get the deal done. So we can get a ceasefire to end the war. Let’s bring the hostages home. And let’s provide much needed relief to the Palestinian people.”
Israeli officials told Axios that the Biden meeting was much more constructive than the one with Harris, but that they were “caught off guard” by Harris’ follow-up statement:
- The Israeli officials said Netanyahu and his team were caught off guard by Harris’ on-camera statement and taken aback by its tone, which they said sounded much more critical than Biden’s.
- “Harris’ statement after the meeting was much more critical than what she told Netanyahu in the meeting,” one Israeli official claimed.
According to more, “The Israeli official also said Netanyahu was unhappy with the fact that Harris criticized Israel publicly for the humanitarian crisis in Gaza and for killing civilians, especially at the current timing amid the hostage deal negotiations.”
But an aide to the vice president said he has no idea what the Israeli side is talking about and emphasized the private meeting between Harris and Netanyahu was “serious and collegial.”
So for now, it appears Netanyahu is ready to blame lack of progress in a ceasefire on VP Harris, and the current chaos of American politics after Biden bowed out of the presidential race. Israeli officials have tried to push a narrative that says a truce deal is impossible if there is any daylight in messaging between Washington and Tel Aviv.
But what Israel wants is a perpetual ‘blank check’ from the US taxpayer (akin to Ukraine’s Zelensky), and makes a lot of noise and complains bitterly in any instance where US leadership is not 100% on board, or issues some degree of criticism of Israeli military action.
ISRAEL/HEZBOLLAH
IDF ills a Hezbollah terrorist in Southern Lebanon
(Jerusalem Post)
IDF kills Hezbollah terrorist in southern Lebanon
By JERUSALEM POST STAFFJULY 25, 2024 14:39
The Israel Air Force killed a Hezbollah terrorist in the Rab El Thalathine area in southern Lebanon from which launches were carried out into northern Israel, the military said on Thursday.
https://player.jpost.com/public/player.html?player=jpost&media=3745571&url=www.jpost.comAn IAF strike on Hezbollah terrorist in the Rab El Thalathine area. July 25, 2024. (Credit: IDF Spokesperson’s Unit).
Earlier, the terrorist had been identified by troops from Unit 869.
In addition, artillery forces in fired at the Chebaa and Ayta ash Shab areas in southern Lebanon.
end
RUSSIA/UKRAINE
Fall leaves may be more than leaves falling
Russia threatening war???
Lavrov today :”I cannot make this any clearer: The Russian Federation will not remain a bystander to the escalation in the Middle East, and will take responsibility; Look at Syria as an example.”
ROBERT:
“Various European leaders who can still understand the horrors of war and have cautioned us about war coming in 3-4 months. While Neocons in America are desperate for war against Russia.
You likely are unaware that all Russian State owned enterprises are moving critical personnel and facilities east of the Urals. While at the same time numerous trauma centers are being established in many cities including Moscow. All will be ready by October 1st.
Such activities suggest preparations like this are not done without serious cost and apprehension of future events yet to unfold. Yesterday, there were high level meetings of government officials and other GCC delegates in the UAE over Hamas and rising tensions. Concern was so high that all cell phones were shuttered prior to the meeting and not accessible until the meeting was over and people dispersed. Concern yes? And zero trust of outsiders.
What will come will come as it is likely that planning is well advanced for expanding conflict. Where ever it comes and that maybe not limited to one location. And as bystanders we are powerless to change the course of history being written. The only history you can change is what you can personally do.”
end
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
ROBERT H
74% of ALL Deaths ‘Directly’ Linked to Covid Shots, Autopsy Data Shows – Slay News
https://slaynews.com/news/74-all-deaths-directly-linked-covid-shots-autopsy-data-shows/
Russia threatening war???
Lavrov today :”I cannot make this any clearer: The Russian Federation will not remain a bystander to the escalation in the Middle East, and will take responsibility; Look at Syria as an example.”
ROBERT:
“Various European leaders who can still understand the horrors of war and have cautioned us about war coming in 3-4 months. While Neocons in America are desperate for war against Russia.
You likely are unaware that all Russian State owned enterprises are moving critical personnel and facilities east of the Urals. While at the same time numerous trauma centers are being established in many cities including Moscow. All will be ready by October 1st.
Such activities suggest preparations like this are not done without serious cost and apprehension of future events yet to unfold. Yesterday, there were high level meetings of government officials and other GCC delegates in the UAE over Hamas and rising tensions. Concern was so high that all cell phones were shuttered prior to the meeting and not accessible until the meeting was over and people dispersed. Concern yes? And zero trust of outsiders.
What will come will come as it is likely that planning is well advanced for expanding conflict. Where ever it comes and that maybe not limited to one location. And as bystanders we are powerless to change the course of history being written. The only history you can change is what you can personally do.”
END
Navy To Expunge Records For SEALs, Sailors Who Refused COVID Vaccines
FRIDAY, JUL 26, 2024 – 03:35 PM
Authored by Zachary Stieber via The Epoch Times,
The U.S. Navy has agreed to correct the records of SEALs and sailors who declined to receive COVID-19 vaccines due to their religious beliefs, under a settlement approved by a federal court on July 24.
“Defendants agree to re-review the personnel records of all class members to ensure that the U.S. Navy has permanently removed records indicating administrative separation processing or proceedings, formal counseling, and non-judicial punishment actions taken against the class members solely on the basis of non-compliance with the COVID-19 vaccine mandate and adverse information related to non-compliance with the COVID-19 vaccine mandate,” the settlement agreement states.
The review must be finished within nine months, according to the agreement.
The Navy has also agreed to review the records of class members discharged over refusal to receive a COVID-19 shot. Officials “will remove any indication from that service member’s records that he or she was discharged for misconduct” and make sure the discharged members are listed as eligible for enlistment.
The expungement of records must be completed within one year according to the agreement.
All Navy members who filed a religious request for an exemption from the Navy’s COVID-19 vaccine mandate and were actively serving as of March 28, 2022, are covered by the settlement. That includes people who rescinded their accommodation requests in order to leave the military.
Some 4,339 individuals are affected by the settlement, according to court documents.
“This has been a long and difficult journey, but the Navy SEALs never gave up,” Danielle Runyan, senior counsel at the First Liberty Institute, said in a statement.
“We are thrilled that those members of the Navy who were guided by their conscience and steadfast in their faith will not be penalized in their Navy careers.”
The Navy declined to comment on the settlement.
The lawsuit, filed in 2021 by the institute on behalf of Navy personnel, prompted the court system in 2022 to block the COVID-19 vaccine mandate for members seeking religious accommodation. In 2023, the Department of Defense rescinded the mandate for all military branches, including the Navy, per a bill approved by Congress and signed by President Joe Biden.
The settlement features the Navy committing to posting a statement on its website saying in part that the branch “supports diverse expressive activities, to include religious expression, and recognizes that through inclusion we are a better military and stronger nation for it.” The statement will say accommodating religious beliefs is “a pillar of the Navy’s commitment to treating all sailors with dignity and respect.”
The Navy has also agreed to list information advising members of their rights to request religious accommodations, create a training presentation for Navy supervisors and commanders, and pay $1.5 million in attorneys’ fees.
Individuals who believe they are part of the class to which the agreement applies can visit First Liberty Institute’s website for the settlement.
More than 16,000 military members filed religious accommodation requests as of January 2023. Many of the requests were denied. If members received a denial but still refused to receive a COVID-19 vaccine, they were often booted from the force. Branches discharged 7,705 members for not complying with the COVID-19 vaccine mandate. The Navy discharged 1,566 members.
When the Navy discharged members, it gave them reentry codes that made them ineligible for reenlistment.
The Army and Air Force violated their own rules in handling exemption requests in a timely manner, the Pentagon’s inspector general said earlier this year, while the Marines and Navy generally met their timeline requirements.
The Navy, though, was among the branches that the watchdog found used incorrect codes for members who were granted exemptions. Officials attributed the incorrect codes to clerical errors.
WORLD EVENTS NOTEWORTHY
END
WORLD HEALTH ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
Sonya Massey was shot dead by an Illinois police officer (County Deputy Sean Grayson) who must face the death penalty based on the video, he is a murderer; she asked for help & he killed her
I am 100% for the blue always & back them first but when they do wrong, I cannot back them and here they did wrong! this police officer (not his partner) must face death penalty
| DR. PAUL ALEXANDERJUL 25 |
Was it racism? Maybe that too but what is clear is that in this case, he had no right to draw his gun or shoot her, NONE! Is this poor police training? Is this mall cops as police officers who are not trained properly? This lady did not do anything wrong. In fact, when she said “I love ya’ll, thank ya’ll,” Massey says as she’s closing her door. So, in other words, the police found a way to enter her house even when she said good bye.
All police are not the enemy, most, 99.99999999% are good people, among the best, but there are bad cops. Also, they cannot read minds and sometimes they are killed when they let their guard down. So, it is a difficult job and situation, yet no matter how many times you go over this case, THIS case, he should have never shot her. He was trigger happy…he did wrong here.
END
Robert Kennedy Jr. struggles politically as Trump surges & Harris with ZERO (0) delegates, seeks to step into Biden’s void; Is Kennedy Jr. backing Trump? Maybe! Trump must be
open to Kennedy Jr. having a position in his administration for Kennedy Jr. is more qualified than most typical political appointees; Kennedy Jr. brings lots to the table & loves USA & flag
| DR. PAUL ALEXANDERJUL 26 |
Word is Kennedy Jr. is cancelling multiple campaign events; is this true? Can someone verify? Is he pivoting to back Trump?
Here is my opinion on this.
Alexander MAGA news; a fake PCR created COVID non-pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Kennedy Jr. can add to the debate, wants to serve, and I believe while I do not support politically, is a good man, a good American, will serve strong and do good by America. Trump must be open to this and in my own way, I will work behind the scenes to promote Robert. I think he is exceptional, just as a democrat and liberal, not my cup of tea. I think one area he lacks is his VP having airtime and yes, they, the putrid media, have shut Kennedy and Nicole Shanahan out but they should do more interviews to showcase themselves.
That said, Kennedy Jr. would make a great addition to any administration and today, based on what is needed, will be wonderful to the Trump administration. I have interviewed with Kennedy Jr., stood on stage with him in rallies, met with him and spoke with him. He is a good man. IMO more decent than most of the crooks in congress both sides. I hope 45 gives this serious consideration. If Ms. Shanahan seeks to serve in a Trump administration, I would if I were 45, seriously consider her strengths and where she is best suited to help USA…only consider people who can be value added and can help…no dead wood. I do not think she is. I think she brings value.
MAGA!
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| Trump Challenges Arthur Engoron’s $454 Million Judgment: ‘Outrageous Miscarriage of Justice’President Donald Trump’s legal team has launched an appeal against a $454 million civil “fraud” judgment issued against him in deep blue New York.READ MORE |
| Reality TV Star Dies ‘Unexpectedly’ at 2626-year-old British reality TV star Harry Savage has been found dead at his home after reportedly dying “unexpectedly.”READ MORE |
| Obama ‘Very Upset’ That Biden Endorsed Harris, Warns She Will Lose to TrumpBarack Obama is “very upset” with Democrat President Joe Biden for endorsing Kamala Harris as his replacement in the presidential race, according to a new report.READ MORE |
| Republican Moves to Impeach Kamala Harris for ‘High Crimes and Misdemeanors’A Republican congressman has moved to impeach Democrat Vice President Kamala Harris for “high crimes and misdemeanors.”READ MORE |
| CNN Data Expert Debunks ‘Internet Memes’: Young Voter Support for Kamala Harris ‘Just Not There’CNN’s senior data expert Harry Enten has warned that Kamala Harris has incredibly weak support from young voters, despite a recent influx of Internet memes suggesting otherwise.READ MORE |
| Corporate Media Scrambles to Bury Kamala Harris’ Failures, Outlets Claim She Was Never ‘Border Czar’As soon as the Democrats replaced President Joe Biden with Kamala Harris on the party’s presidential election ticket, the corporate media has been scrambling to bury the VP’s failures.READ MORE |
| Germany Shuts Down Major Islamic Center for Serving as ‘Outpost’ for Iranian TerroristsThe German government has shut down a major network of Islamic organizations across the country, including a prominent mosque.READ MORE |
EVOL NEWS
| TEST NEWS: |
| LATEST NEWS: |
NEWS ADDICTS
| Top Scientists Confirm Covid Shots Caused Global Heart Failure Surge Among ChildrenThe global surge in deadly heart failure cases among children was caused by Covid mRNA shots, leading scientists have finally confirmed.READ THE FULL REPORTFederal Judge Refuses to Dismiss Trump’s Defamation Lawsuit Against ABC News and StephanopoulosA federal judge has rejected the motion filed by ABC News and George Stephanopoulos to dismiss the defamation lawsuit brought against them by former President Donald Trump.READ THE FULL REPORTFederal Appeals Court Declares FCC’s Universal Service Fund an Illegal TaxA federal appeals court has sided with a conservative nonprofit in a case disputing the legitimacy of the Federal Communications Commission’s (FCC) administration of the Universal Service Fund (USF).READ THE FULL REPORTAdam Schiff: ‘It’s Hard to Find Someone Better Qualified in Our History to Become President than Vice President Harris’In an appearance on ABC’s “The View” on Wednesday, Representative Adam Schiff (D-CA) praised Vice President Kamala Harris, stating, “It’s hard to find someone more qualified in our history to become president.”READ THE FULL REPORTSecret Service Had ‘Text Thread Going’ for Suspected Gunman Thomas Matthew Crooks Just Before Shooting StartedLocal law enforcement alerted the U.S. Secret Service about a suspicious person before the shooting at former President Donald Trump’s rally in Pennsylvania earlier this month, according to the chief of the Pennsylvania State Police.READ THE FULL REPORTVIEW MORE NEWS |
LATEST REPORTS FOR NEWS JUNKIES
| Globalists Plotting ‘Planetary Emergency’ Ahead of 2024 ElectionGlobalist elites are plotting to launch a “planetary emergency” ahead of the 2024 election in November that will force “sovereign” nations to surrender their powers to a single world government.READ THE FULL REPORT |
| FULL Police Bodycam Video is Released of the Frantic Moments Following Trump Assassination AttemptSenator Chuck Grassley (R-Iowa) shared the full bodycam footage he got from the Beaver County Emergency Services Unit (ESU) regarding the immediate aftermath of Thomas Crooks’ attempted murder of former President Donald Trump.READ THE FULL REPORT |
| Whistleblower: Secret Service Repeatedly Rejected Offers To Use Drones At Deadly Trump RallyA whistleblower is alleging that the U.S. Secret Service declined to use drones at the deadly Pennsylvania rally for former president Donald Trump on July 13, even though the technology was repeatedly offered by local law enforcement, Republican Missouri Sen. Josh Hawley said on Thursday.READ THE FULL REPORT |
| [WATCH] Kamala Harris: ‘Trump Is Backpedaling, but I’m Ready to Debate Him’Vice President Kamala Harris agreed on Thursday to debate former President Donald Trump.READ THE FULL REPORT |
| Joe Biden Pledges Supreme Court Reform in His Final Months in OfficeIn a speech from the Oval Office on July 24, President Joe Biden announced that he plans to push for Supreme Court reform during his final stretch as the nation’s commander-in-chief.READ THE FULL REPORT |
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
END
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS FRIDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0855 UP .0004
USA/ YEN 154.71 UP 1.006 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//END OF YEN CARRY TRADE
GBP/USA 1.2867 UP 0.0012
USA/CAN DOLLAR: 1.3818 DOWN .0001 (CDN DOLLAR UP 1 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 4.16 PTS OR 0.14%
Hang Seng CLOSED UP 16.34 PTS OR 0.10%
AUSTRALIA CLOSED UP 0.73%
// EUROPEAN BOURSE: MOSTLY GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: MOSTLY GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 16.38 PTS OR 0.10 %
/SHANGHAI CLOSED UP 4.16 PTS OR 0.14%
AUSTRALIA BOURSE CLOSED UP .73%
(Nikkei (Japan) CLOSED DOWN 202.10 PTS OR 0.53%
INDIA’S SENSEX IN THE GREEN
Gold very early morning trading: 2372.70
silver:$27.76
USA dollar index early FRIDAY morning: 104.15 UP 4 BASIS POINTS FROM THURSDAY’s CLOSE.
FRIDAY MORNING NUMBERS ENDS
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And now your closing FRIDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 3.029% DOWN 2 in basis point(s) yield
JAPANESE BOND YIELD: +1.059% DOWN 0 AND 1/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.222 DOWN 2 in basis points yield
ITALIAN 10 YR BOND YIELD 3.757 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.3995 DOWN 1 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR FRIDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0860 UP 0.0009 OR 9 basis points
USA/Japan: 153.64 DOWN 0.162 OR YEN IS UP 16 BASIS PTS
Great Britain 10 YR RATE 4.1160 DOWN 5 BASIS POINTS //
Canadian dollar DOWN .0012 OR 12 BASIS pts to 1.3824
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The USA/Yuan, CNY ON SHORE CLOSED DOWN AT 7.2494 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (DOWN)…. (7.2597)
TURKISH LIRA: 32.97 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +1.059…
Your closing 10 yr US bond yield DOWN 6 in basis points from THURSDAY at 4.199% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.459 DOWN 4 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.389 DOWN 2 BASIS PTS.
GOLD AT 11;30 AM 2385,00
SILVER AT 11;30: 27.74
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 UP 103.86 PTS OR 1.27%
German Dax : CLOSED UP 124.50 PTS OR 0.65%
Paris CAC CLOSED UP 90.67 PTS OR 1.22 %
Spain IBEX CLOSED UP 22.00 OR 0.20%
Italian MIB: CLOSED UP 49.37 PTS OR 0.15% PTS
WTI Oil price 77.38 12EST/
Brent Oil: 81.33 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 86.27 ROUBLE DOWN 1 AND 27/100
GERMAN 10 YR BOND YIELD; +2.3905 DOWN 1 BASIS PTS.
UK 10 YR YIELD: 4.1160 DOWN 5 BASIS POINTS
CDN 10 YEAR RATE: 3.347 DOWN 4 BASIS PTS.
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0858 UP 0.0007 OR 7 BASIS POINTS
British Pound: 1.2873 UP 0.0018 OR 18 basis pts
BRITISH 10 YR GILT BOND YIELD: 4.103 DOWN 4 BASIS PTS//
JAPAN 10 YR YIELD: 1.058
USA dollar vs Japanese Yen: 153.73 UP 0.012 YEN DOWN 1 BASIS PTS//
USA dollar vs Canadian dollar: 1.3832 UP 0.0012//CDN dollar DOWN 12 BASIS PTS
West Texas intermediate oil: 76.67
Brent OIL: 80.70
USA 10 yr bond yield DOWN 7 BASIS pts to 4.194
USA 30 yr bond yield DOWN 5 BASIS PTS to 4.450%
USA 2 YR BOND: DOWN 6 PTS AT 4.389
CDN 10 YR RATE 3.342 DOWN 6 BASIS PTS
USA dollar index: 104.05 DOWN 6 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 32.84 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 86.08 UP 1 AND 8/100 roubles
GOLD 2,385.90 3:30 PM
SILVER: 27.83 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 654.27 PTS OR 0.64%
NASDAQ DOWN 193.07 PTS OR 1.03 %
VOLATILITY INDEX: 16.452 DOWN 2.04 PTS OR 6.05%
GLD: $220.65 UP 2.32 OR 1.05%
SLV/ $25.48 UP 0.07 OR 0.28%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM:
Two Trillion & Counting… The Mega-Cap Meltdown Continues
FRIDAY, JUL 26, 2024 – 04:00 PM
Since peaking on July 10th, the market cap of the Magnificent 7 stocks has dropped a mind-numbering $2 trillion…
Source: Bloomberg
As another week goes by (the third in a row) with Small Caps (+3%) dramatically outperforming Nasdaq (-3%). The Dow ended the week green but S&P red (but closed above its 50DMA)…
That has crashed Nasdaq back into ‘normal’ range with the Russell for the last year…
Source: Bloomberg
And the biggest three week underperformance of Nasdaq vs Small Caps since the very peak of the DotCom bubble…
Source: Bloomberg
Treasuries have been broadly bid the last two days, with the long-end lagging (but managing to get back to unchanged on the week today) as the short-end yields tumbled…
Source: Bloomberg
This drove the yield curve (2s30s) to disinvert most sine July 2022…
Source: Bloomberg
Rate-cut expectations rose modestly on the week (focused fully in 2024 as 2025 remained flat)…
Source: Bloomberg
The dollar drifted very modestly higher in a very noisy trading
Source: Bloomberg
Gold ended the week slightly lower, bouncing back today…
Source: Bloomberg
Crypto markets were mixed this week with Bitcoin bouncing back strongly today, back up to $68,000…
Source: Bloomberg
…but ETH seeing ‘sell the news’ relative pressure since the ETFs launched…
Source: Bloomberg
Oil prices ended the week lower, chopping around back in a tight technical range it has found comfortable for months…
Source: Bloomberg
Finally, it’s different this time… it’s bigger….
Source: Bloomberg
…and remember, next week is the busiest of the summer – massive macro events (JOLTs, BOJ, Euro CPI, US ECI, FOMC, BOE, NFP), coupled with massive earnings announcements (40% of SPX market cap next week).
MORNING TRADING/
AFTERNOON TRADING///
II USA DATA
Core CPI comes in hotter than expected hurting chances for rate cut. Income growth weaker
(zerohedge)
Fed’s Favorite Inflation Indicator Unexpectedly Jumped In June; Savings Rate Slumps
FRIDAY, JUL 26, 2024 – 08:46 AM
The broadly weak trend of US macro data was jolted yesterday by a hotter than expected GDP print – which prompted a hawkish shift in rate-cut expectations. This morning, the doves get another chance for some ‘bad news’ (disinflation) to support their ‘we must cut’ narrative (that Dudley et al. have exposed).
The Fed’s favorite inflation indicator – Core PCE – instead came in slightly hotter than expected, rising 2.6% YoY (vs +2.5% YoY exp). The headline PCE dipped to +2.5%...
Source: Bloomberg
Under the hood, durable goods deflation continues to drag Core PCE lower while Services costs continue to rise…
Source: Bloomberg
Even more notably, the so-called SuperCore PCE rose 0.2% MoM, which saw YoY rise to 3.43%… which is awkwardly stagnant at elevated levels…
Source: Bloomberg
That is the 50th straight monthly rise in SuperCore prices with Healthcare costs soaring…
Source: Bloomberg
On A MoM basis, income growth was weaker than expected (+0.2% vs +0.4% exp), while spending was +0.3% as expected…
Source: Bloomberg
On a YoY basis, spending continues to outpace incomes…
Source: Bloomberg
Which dragged the savings rate down further…
Source: Bloomberg
All of which takes place against a background of the seventh straight month of rising government handouts (well it is an election year after all)… (which means the savings rate would have puked even more without it)
Source: Bloomberg
Not enough there for the doves…
end
Depressed Democrats Drag UMich Consumer Sentiment Survey To 8-Month-Lows
FRIDAY, JUL 26, 2024 – 10:09 AM
UMich Consumer Sentiment slumped further in July with Current Conditions plunging to their weakest since Dec 2022…
Source: Bloomberg
Confidence among Republicans picked up modestly while Democrats’ sentiment slumped to its lowest since 2023…
Source: Bloomberg
Buying-Conditions crashed for everything…
Source: Bloomberg
On the bright side, inflation expectations continue to stabilize…
Source: Bloomberg
Surveys of Consumers Director Joanne Hsu noted that “continued election uncertainty is likely to generate volatility in economic attitudes in the months ahead.”
END
Trouble with credit card delinquency!! The economy is in big trouble
(ZEROHEDGE)
Bidenomics Failure Worsens As Credit Card Delinquency Rate Hits 12-Year High
FRIDAY, JUL 26, 2024 – 01:55 PM
Whatever happened to the ‘Bidenomics’ propaganda pushed by the White House and amplified by leftist corporate media outlets? Well, that narrative quickly imploded, just like the narrative that President Biden is the ‘sharpest person in the room.’
A majority of Americans are livid with Bidenomics. They have been financially crushed by elevated inflation and high interest rates as the national debt uncontrollably soars by $1 trillion every 100 days. The economic pain is very real and has sent households into a downward spiral. Now, credit card debt delinquencies are soaring, reaching the highest level since 2012.
The Democratic Party’s propaganda machine in corporate media has spent this entire week attempting to convince the American people that Vice President Kamala Harris should be the next president of the US. From ‘saving to democracy’ to ‘young blood’ – the radical left has tried to spin all sorts of narratives this week, even rewriting the history of Harris’ past to skewing polls (see: here & here & here).
The problem with Democrats propping up the former ‘Border Czar’ is that it won’t affect the dire situation for tens of millions of voters who find themselves in financial turmoil because of failed Bidenomics. Many folks are suffering and have trouble paying shelter costs, and don’t get the American people started about food inflation at the supermarket – it’s a sour topic.
The damage to the working poor and middle class has already been realized. By the way, the pain is creeping towards high-income classes…
On Thursday, Goldman analyst Natasha de la Grense told clients, “Not a great start to earnings season in Consumer, with very few positive surprises so far. Both high-end consumption and the low-income consumer are weak.”
With that in mind, cracks in the consumer sector are widening significantly. New data from the Philadelphia Federal Reserve reveals that the share of past-due credit card balances in the first quarter reached the highest level since records began in 2012.
Here’s more from the report:
All measures of balance-based credit card delinquency rates posted their highest levels in the nearly 12-year history of the series in the first quarter. Meanwhile, the total number of credit card accounts 30, 60, and 90 days past due declined for the first time in a year, following typical seasonal trends.
Figure 1 plots the share of credit card balances and accounts 60 or more days delinquent, highlighting the divergence in trends across the two measures of card delinquencies this quarter. Although the share of accounts falling behind on payments was smaller, account holders who are behind have larger balances left unpaid. Utilization and average account balances declined this quarter across all percentile cuts, in a typical seasonal reduction following holiday spending.
Furthermore, the report noted total number of credit cards fell in the quarter, consistent with seasonal trends. However, total revolving balances reached a record $628.6 billion. Revolved balances account for about 71% of total outstanding balances, the highest level since 2021.
The report also noted that “account holders who are behind have larger balances left unpaid.”
Even with inflation cooling and rate traders pricing in the first 25bps interest rate cut in September, the lag effect will be months before consumers see any direct relief.
Greg McBride, chief financial analyst at Bankrate, told NBC News, “Interest rates are not going to fall fast enough to bail you out of a bad situation.”
III USA ECONOMIC COMMENTARIES
Bank failures are now certain: CRE crisis is still upon us:
(GNS Economic Substack)
‘Bank Failures Are Almost Certain To Follow’: The CRE Crisis Has Gone Nowhere…
FRIDAY, JUL 26, 2024 – 07:20 AM
Authored by Mate Suto and Tuomas Malinen via GnS Economics Substack,
Commercial real estate (CRE) issues have been getting more attention this year, causing significant headaches for the banking sector and raising questions about the severity of the situation. Rising vacancy rates, the short maturity of loans, and the loans made during low-interest periods have all contributed to escalating the current predicament. We have written about this several times, and now we aim to explore the problem through the lens of bank balance sheets to determine which ones really suffer under this issue.
To begin with, CRE loans are occupying a large portion of the U.S. banking sector’s entire portfolio (Total Assets), standing at a significant 10%. CRE loans are also regarded as the most widely held loan type among banks, which is confirmed by the fact that the majority of banks (99%) have positive CRE loans. Basically, almost every bank in the U.S. is holding some type of CRE loan on their balance sheets. Therefore, it is no surprise that this is an area warranting close observation, especially because the risks posed by CRE exposure spread quite unevenly between large and small banks.
Figure 1 illustrates the average CRE concentration for banks based on their size, as a share of loans.
Source: GnS Economics, FDIC
Community banks, which refer to small and medium sized banks, emerge as a primary source of concern due to their substantially higher exposure compared to their larger competitors. This is clearly visible in the figure, where, on average, these banks allocate 45% of their loans to CRE, while the largest banks maintain a more cautious concentration of around 12%. This difference is not unexpected, as community banks are inclined to take on more risks due to their lower capital requirements. This seemingly underscores the growing concerns surrounding community banks and their CRE portfolios, and this narrative is also heavily pushed by the media.
However, high CRE concentration alone do not inherently imply problems. The real issue arises from the combination of high concentrations, insufficient reserves, and delinquency issues. Therefore, it is essential to analyze the Coverage Ratio, which compares CRE to reserves for losses (Allowance for Loan Losses) plus Equity Capital.1 This ratio effectively measures the ‘leverage’ in the CRE portfolio. The higher the number, the higher the possible future risk.
Source: GnS Economics, FDIC
Mid-sized banks are hovering at a Coverage Ratio of 300%, while the biggest banks maintain a modest 50%. This disparity seems to strengthen the argument that community banks are the primary issue. However, there is another side to the coin, when we examine Non-Performing Loans (NPLs) in CRE loans, they paint a different picture.
Non-Performing Loans are defined as loans that are either in non-accrual status or 90 days past due. The occurrence of NPLs is increasing across various bank portfolios, and the big banks are not excluded from this trend. The following figure presents the average CRE NPL percentage in CRE loans, categorized by the same bank sizes as previously analyzed.
Source: GnS Economics, FDIC
The biggest banks are definitely the ones which are having NPL issues at the moment, which is even more visible when we look at the Non-farm Nonresidential Non-owner occupied component of CRE. This component is crucial, because a CRE loan is classified as a Non-farm Nonresidential Non-owner occupied if the borrower is making payments primarily from rental income, hence this category is very sensitive to any issue in the sector.
Source: GnS Economics, FDIC
NPLs in the Non-owner component have reached worryingly high levels among big banks, while for the remaining sector, it stands at normal levels for now. As the largest component of commercial real estate loans, the significant spikes in NPLs among big banks will undoubtedly worsen credit conditions in the already troubled CRE market.
Conclusions
The issues with CRE loans have been circulating for some time, but the narrative often focuses on community banks. However, as we observed, identifying the weak links in the banking sector is not straightforward. Small and medium banks undeniably have a higher exposure to commercial real estate (CRE) compared to large banks, but they also have lower levels of non-performing loans.
Nevertheless, the situation is expected to soon reveal its impact. Banks facing increasing problems will raise their provisions, negatively affecting their profitability and, more importantly, the credit market. Bank failures are almost certain to follow, as warned by the Chairman of the Fed, Jerome Powell. Buckle up!
end
Discount Retailer Big Lots To Close More Than 50 Stores In California
FRIDAY, JUL 26, 2024 – 09:50 AM
Authored by Katabella Roberts via The Epoch Times (emphasis ours),
Discount retail chain Big Lots is shuttering more than 50 stores across California following a drop in customer spending and economic challenges.
The store locator function of the chain’s website shows 54 stores that will close across the state, but it’s not clear exactly when they will close.
Big Lots said in a June filing with the U.S. Securities and Exchange Commission (SEC) that it plans to open three stores nationwide this year and close 35 to 40.
Prior to the announcement, Big Lots had 1,392 stores throughout the United States.
In its SEC filing, the Columbus, Ohio-headquartered company said the planned closures follow “macroeconomic challenges” within the U.S. economy, such as inflation, that had “adversely impacted” the buying power of its customers.
The retailer also warned in its SEC filing that, based on current cash and liquidity projections, it has “substantial doubts” about its ability to continue. It also cited a “significant likelihood” that Big Lots won’t meet the terms of a 2022 credit agreement.
Big Lots said it has incurred net losses and used cash in operating activities in 2022, 2023, and the first quarter of 2024.
In its June earning results, the company reported net sales for the first quarter of fiscal 2024 of $1.009 billion, a 10.2 percent drop from the same period a year earlier. It also reported a net loss of $205 million, or $6.99 per share, for the first quarter of fiscal 2024.
At the time, Big Lots CEO Bruce Thorn said the company had missed its sales target largely because of “continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items.”
Still, he vowed to continue transforming the business.
“The current financial performance does not yet reflect the stronger business model that we’ve created through our five key actions, but we expect the fruits of those efforts to become more apparent in the back half of the year,” Mr. Thorn said.
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
end
END
FREIGHT ISSUES/USA/BOEING
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
VDH
Coup Upon Coup Upon Coup
THURSDAY, JUL 25, 2024 – 04:20 PM
Authored by Victor Davis Hanson via American Greatness,
In March 2020, all the major Democratic primary candidates abruptly, mysteriously, and in near unison withdrew from the presidential race, ceding the nomination to Joe Biden.
Yet Biden had lost the first three races in Iowa, New Hampshire, and Nevada—and only won his first victory in South Carolina.
Suddenly, on the eve of the Super Tuesday mega-primaries, the candidacies of front-runner Bernie Sanders, Pete Buttigieg, Elizabeth Warren, and others simply evaporated.
The fear of a front-runner Sanders’ socialist victory and nomination—and thus an enviable landslide loss to incumbent Donald Trump in the general election—had prompted the donor class and shadowy political insiders to act.
And they did so by choosing a perceived moderate, old Joe Biden from Scranton.
That required the coerced departures of all his far-left rivals, who had hitherto performed much better than Biden in the primaries.
Now front-runner Biden still displayed obvious symptoms of serious cognitive decline that had only seemed to mount through the 2020 campaign.
And his dementia continued to accelerate during his first three years as president.
Biden had deceitfully promised to conduct a healing campaign and a unifying presidency. But once in the White House, his extreme agendas proved the most divisive and far-left in nearly a century.
Rumors of that prior March 2020 Faustian bargain emerged.
The Bidens got to serve as useful moderate veneers. So, they enjoyed the ceremonial functions of the presidency while outsourcing the real operations to former Obama officials, consultants, and advisors.
Indeed, Obama did not, as most ex-presidents do, exit Washington upon leaving the White House. Instead, he bought a mansion and stayed close by.
Democrats demonized anyone critical of Biden’s obvious mental decline. Their smearing crested during Biden’s now-aborted 2024 reelection bid, even as Biden could no longer display even a veneer of mental and physical engagement.
Polls revealed an impending Trump landslide victory in November—and a massive Democratic loss of Congress.
So suddenly on a Sunday, July 21—just days left before state ballots were formalized with the names of the parties’ official nominees, and on the eve of the Democratic convention—party bosses, mega-donors, and Obama puppeteers went into action for yet a third time.
They reportedly threatened candidate Biden with a complete loss of any further campaign funding and raised the specter of invoking the 25th Amendment to end his presidency—should he not suddenly withdraw from the race and endorse Vice President Kamala Harris as his surrogate on the ticket.
In one moment, the choices of nearly 15 million Biden primary voters were vitiated.
No delegates were consulted. No other alternative Democrat candidates were even considered.
Biden was dethroned; Harris was coronated – without much public input or even knowledge of how or why.
Democrat grandees stopped smearing Biden’s conservative critics, who had worried over his dementia. Instead, they now trumped opposition criticism of Biden’s decline.
Yet Biden most certainly did not resign his presidency. Instead, he promised to serve out his remaining six months in office.
So Democrat insiders not only removed their leading candidate, who for the prior six months had won all the 2024 primaries and almost all the delegates, but insisted that Biden keep Democrats and himself in power—but only if he agreed to quit the race.
In sum, at the 11th hour of a two-year reelection effort, a cabal arbitrarily decided that Joe Biden might well lose the Democrats the White House and the Congress.
So, they reversed course, now claiming his dementia was so acute as to destroy their November prospects. But mysteriously, his decline was not severe enough to imperil the American people, whom Biden must continue to lead until January 20, 2025.
Furthermore, the bosses’ replacement choice, Vice President Kamala Harris, had entered no primary. She never won a single delegate. Harris also never captured a single delegate in her first and only presidential run back in 2020. She then dropped out of the race even before the first Iowa and New Hampshire balloting.
We have now witnessed three left-wing veritable coups.
- In 2020, covert actors decided to ossify the Democratic primary races. Next, they conferred the nomination on a clearly cognitively challenged Joe Biden. He was now tasked with serving as a useful moderate vessel for a virtual, even more radical, Obama third term.
- The same operators next assumed virtual control of Biden’s presidential agenda, given his accelerating cognitive decline. When that charade could no longer be sustained, for a third time, they circumvented the normal transparent democratic process.
- So, they removed the once useful but now a liability Biden—while insisting that he was still fit enough to keep the left in power—until the anticipated Harris victory in November.
And all of this was the shadow work of those who sanctimoniously lectured America that “democracy dies in darkness.”
end
END
NEWT GINGRICH
SWAMP NEWS
END
KING REPORT
| The King Report June 26, 2024 Issue 7292 | Independent View of the News |
| Stronger than expected Q2 GDP and Core PCE destroyed recession talk and July rate cut hype.Q2 GDP 2.8%, 2.0% expected, 1.4% priorPersonal Consumption 2.3%, 2.0% expected, 1.5% priorGDP Price Index 2.3%, 2.6% expected, 3.7% priorCore PCE Price Index 2.9%, 2.7% expected, 3.1% priorPersonal Consumption contributed 1.57 vs 0.98 in Q1.Fixed Investment declined to 0.64% from 1.19% in Q1Private Inventories added 0.82, a huge jump from the -0.42 in Q1Net trade subtracted 0.71 vs -0.65 in Q1Government added .53 vs 0.31 in Q1Gross domestic purchases prices increased 2.3%, 2.6% expected, vs 3.1% in Q1https://www.bea.gov/sites/default/files/2024-07/gdp2q24-adv.pdf Bond yields jumped on the release of the Q2 GDP report. But the GDP report is not as strong as it looks due to the surge in inventories and government spending. So, the usual suspects proclaimed that a September rate cut is guaranteed. The CME FedWatch Model sees a 6.7% chance of a rate cut at the July 31 FOMC and an 85.8% chance of a rate cut at September 18 FOMC (down from 90% on 7/24). https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html June Durable Goods -6.6% m/m, +0.3% exp,, Ex-Trans 0.5%, 0.2% exp., Nondef Ex-Air 1.0%, 0.2% exp., Shipments 0.1%, 0.2% exp. Stocks and bonds rallied after their early decline. Apparently, the Q2 GDP Report leaked on Wednesday. That’s why bonds and stocks tumbled on Wednesday. Tech stocks got pounded early on Thursday, Nvidia tumbled as much as 6.8%. The NY Fangs+ Index rebounded sharply after 10:15 ET. But Fangs peaked just after 13:00 ET and sank into the close. ESUs traded modestly to moderately higher from the Nikkei opening until they broke down after 2 ET. After a rally for the European opening, ESUs sank until they hit 5451.00 at 4:19 ET. After a 30-handle surge, ESUs rolled over into a range. ESUs broke lower after 10:00 ET and hit a daily low of 5432.50 at 10:13 ET. ESUs then exploded higher on manic buying, hitting a daily high of 533.25 at 13:08 ET. ESUs then tumbled to 5465.25 at 14:56 ET. A last hour manipulation forced ESUs to 5495.25 at 15:24 ET. However, equities are now in a down mode. ESUs sank to 5433.25 at 16:03 ET. Positive aspects of previous session The DJTA rallied sharply on good transportation stock results. The DJIA rallied 81.20 points. USUs were +19/32 at the NYSE close. Negative aspects of previous session Ford crashed 18%, its biggest drop since 2008; EPS -.47, -.30 expected Nasdaq and the Nas 100 declined sharply. The NY Fang+ Index closed lower after being sharply higher earlier Ambiguous aspects of previous session Why did gold plunge 54.90? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5427.25 Previous session S&P 500 Index High/Low: 5491.59; 5390.95 A joint Russia-China sortie of bombers threatened the Alaska coast about an hour before Biden’s address. Does anyone doubt that Russia and China are testing and/or taunting whoever is running the USA? Is Joe Okay? Viewers Notice Apparent Bruise on Biden’s Jaw in Oval Office Address (Fox noted) “So, is the White House going to explain the big bruise on Biden’s lower jaw or pretend it doesn’t exist? I’m betting they pretend it doesn’t exist.”… https://loudobbs.com/news/is-joe-okay-viewers-notice-apparent-bruise-on-bidens-jaw-in-oval-office-address/ Ex-liberal icon Dr Naomi Wolf @naomirwolf: You saw the WH speech. Not a statement in front of humans, no questions taken. Skin tone more orange. Facial skin tone did not match hands, which were more brown. Something super weird I don’t even understand vis a vis the neck. Where did 80 per cent of his facial lines go? Maybe Pres Biden rebounded in five days from mortal illness, changed color and got a lot of Botox, but we are living in a very weird world with very new technologies, and we should ask any question. (Biden hardly blinked, which is not normal!) @MrAndyNgo: People with elderly family know this look. President Biden after giving his Oval Office speech on July 24. Photo: AFP https://x.com/MrAndyNgo/status/1816290905743106529 @rawsalerts: Several House Republicans, including Speaker Mike Johnson, replace the three American flags that were torn down and burned by Pro-Palestine protesters. https://x.com/rawsalerts/status/1816307383024374189 @PhilipWegmann: “Restricted pool was ushered into the Oval Office at 7:57 pm. POTUS was already seated at the Resolute Desk when we entered. He began speaking at 8:01 pm,” reported print pooler @linda_feldmann, who was in the room. (Why didn’t ‘they’ want the media to see Biden walk in?) Local cops refusing to share info with FBI as agency suffers ‘crisis of confidence’ with DEI hires, damning whistleblower report reveals – “They are not only reluctant to work with the FBI but reportedly have decided to no longer share actionable, substantive information on criminal and other intelligence-related activity with the FBI.” …https://t.co/k2p5XWkT3n @RNCResearch: Co-Press Secretary John Kirby acknowledges “Iran has been funding and encouraging some of the protest activity in the United States.” REMINDER: The Harris-Biden administration just renewed a sanctions waiver *last week* to unlock billions of dollars more for the Iranian regime. https://t.co/1BblMA92Zw @townhallcom: REPORTER: Netanyahu called the protestors “Iran’s useful idiots.” What is the administration’s method of dealing with them? KIRBY: “First of all, that’s not a phrase we would use.” https://t.co/xukzg0ha4I @TrumpDailyPosts: If those people rioting in Washington yesterday were Republicans/Conservatives, they’d all be in jail right now, facing 10 to 20 year sentences. Under this Crooked Administration, nothing will happen to them! Gop Sen. @HawleyMO: Whistleblower tells me local law enforcement partners & suppliers offered drones to Secret Service BEFORE the rally – but Secret Service declined https://t.co/UM0jfrMc9z (Okay, now we think that there could be a conspiracy.) @paulsperry_: Several FBI vets tell me FBI Dir Wray lied yesterday when he testified FBI hasn’t lowered Quantico standards. “Objectively untrue. Ask him for the training docs,” FBI official said. “Both guys and gals failing their firearms tests are still being graduated,” DC FBI agent. @susancrabtree: LOCAL LAW ENFORCEMENT OFFICIALS SAY THEY DID NOT LEAVE THEIR POSTS BC IT WAS “HOT.” A Hawley-sourced Foxnews.com report posted yesterday accused the local law enforcement officers of leaving their post at the AGR building because it was hot. But local law enforcement officers say that’s ridiculous — that USSS never assigned them to the rooftop… Biden with Bibi (Yikes) https://x.com/QTRResearch/status/1816532256917242309 “Little Cash on The Sidelines” May Indicate Firepower to Sustain Equity Rally Diminishes Arthur Budaghyan leads the team at BCA Research, which published the note “Little Cash On The Sidelines” for clients on Wednesday. The rationale behind peaking stocks is record low levels of “cash on the sidelines” for US retail investors and investment firms, which only suggest “there is little firepower… The odds are that US stocks will soon peak, and a bear market will commence… allocators should overweight government bonds versus stocks. A sizable allocation to US dollar cash is also warranted.”… https://www.zerohedge.com/markets/little-cash-sidelines-suggests-firepower-sustain-equity-rally-diminishes Fed Balance Sheet: -$2,792B; Reserves at the Fed: -$22.845B https://www.federalreserve.gov/releases/h41/20240725/ Today is a summer Friday; traders will play for a rebound rally, especially if stocks are soft in the morning or at midday. We are in peak vacation season; so, the markets are very thin. A few determined traders can more easily manipulate stuff. Due to the massive technical damage exacted on equities this week, trader psychology is changing. Years of inculcated behavior will induce many traders to keep buying dips. So, the volatility in equities should increase. A key going forward will be institutional behavior. It appears the whales are liquidating. No one knows how long this will last or if it will increase or if more whales run for the exit. The big clue that equities were heading for trouble was the massive rotation that commenced a few weeks ago when whales sold Mag 7/related trading sardines and bought laggards. We warned at the time that jettisoning the leaders and buying laggards late in a cycle usually indicates a top is forming. NQUs are +60.50; ESUs are +15.25; and USUs are +2/32 at 20:41 ET. Expected economic data: June Personal Income 0.4%, Spending 0.3%, PCE Price Index 0.1% m/m & 2.4% y/y, Core PCE 0.2% m/m & 2.5% y/y; July UM Sentiment 66.4, Current Conditions 64.4, Expectations 67.5 (jump among Dems with Biden out), 1-year Inflation 2.9%, 5-10-year Inflation 2.9% Expected earnings: AON 3.10, CL .87, BMY 1.61, MMM 1.68 S&P Index 50-day MA: 5432; 100-day MA: 5288; 150-day MA: 5154; 200-day MA: 4975 DJIA 50-day MA: 39,385; 100-day MA: 39,070; 150-day MA: 38,757; 200-day MA: 37,741 (Green is positive slope; Red is negative slope) S&P 500 Index (5399.22 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 5617.45 triggers a buy signal Hourly: Trender and MACD are negative – a close above 5500.18 triggers a buy signal @DefiyantlyFree: Flashback to when NBC conducted a poll that found Kamala Harris to be the least liked vice president in the history of the United States of America. https://t.co/xZ2QSOJPFb @DecisionDeskHQ: DDHQ Polling Average Update: 2024 Presidential (Arizona) Trump (R): 50.2% (+7.2); Harris (D): 43.0%; This is R+0% since last week. This average is based on 5 polls. @RCPolling: 2024 General Election: Economist/YouGov: Trump 44%; Harris 41%; Kennedy 5% RCP Avg: Trump +2.8. This Day in History: July 24, 2020: Biden +8.7, July 24, 2016: Clinton +1.4 https://t.co/EysQpZJ0Eg @Rasmussen_Poll: Independents Only– Trump: 53% (+20), Harris: 33%. Someone Else: 9%. Not Sure: 5%. We have done more Harris polling than almost any pollster. So this is no surprise to us. And it’s consistent with our last Biden v Trump poll. She did not improve on Biden. 2024 GE: Trump: 50% (+7), Harris: 43%, Other: 4% D35/R33/I32 | 1,074 LV | July 22-24 @IAPolls2022: “To what extent, if at all, was Kamala Harris involved in covering up Biden’s health?” A great deal – 68%; somewhat 17%, Not at all – 4%, a little 7%; Don’t know 4%. YouGov/@thetimes | RVs | 7/22-23 (This is a devasting poll about trust in Kamala) https://t.co/yIQnn4llR7 @VishBurra: SHOCK POLL: Mark Mitchell of RasmussenPoll tells ben harnwell that 62% of the population in America is concerned with electoral cheating/voter fraud and about 9% of respondents in a poll of “likely voters” were not or not sure if they were even American CITIZENS… 18% of the electorate said they received invalid 2020 ballots in the mail… 28% of people that voted by mail in 2020 admit they committed at least one act of vote fraud… https://x.com/VishBurra/status/1816556518528975123 Mark Mitchell of @Rasmussen_Poll tells the WarRoom that the media will not be able to “memory-hole” Kamala Harris being Biden’s “border czar” because 60% of Americans believe the government isn’t doing enough on immigration… Only 12% of Americans want abortion after 6 months… https://x.com/VishBurra/status/1816548156374680007 Trump is going after Kamala for being an extreme leftist and a liar. @TrumpDailyPosts: We’re not ready for a Marxist President, and Lyin’ Kamala Harris is a RADICAL LEFT MARXIST, AND WORSE! Trump: “Now we have a new victim to defeat, lyin’ Kamala Harris, the most incompetent and far-left vice president in American history… Now, if we start beating her in the polls by 10 or 15 points, are they going to bring in a third candidate?”… https://www.newsmax.com/newsfront/donald-trump-kamala-harris-joe-biden/2024/07/24/id/1173850/ Trump quickly moves to define Harris as ‘more left than Bernie Sanders’ https://t.co/xURkTAM2GW Slew of swing state polls show Donald Trump with battleground edge over Kamala Harris https://t.co/EfuQAKqlaK House passes resolution condemning Harris’ work as border czar, failing to secure southern border (Six Dems voted with all Repubs!) https://justthenews.com/government/congress/house-passes-resolution-condemning-harris-work-border-czar-failing-secure Inside the plot to gaslight Americans about Kamala Harris and re-write her story… and it starts with insisting she was never ‘Border Czar‘ https://t.co/ZyDMAZ8r0g @seanmdav: Everyone knows it’s a massive liability for Harris that she oversaw the complete disintegration of the border, which is why corrupt media are working overtime to pretend it never happened. Unfortunately for them, we have more than three years’ worth of receipts. https://t.co/F9xvhikKjt @profstonge: 31,800 references to Kamala as “Border Czar” over the course of 3 years https://t.co/Xtxnz86bqc @libsoftiktok: Democrat House Minority Leader Hakeem Jeffries says Republicans “are making up” that Kamala was put in charge of the border. Too bad her accepting the role is on video… https://t.co/WPQBU6MkUK @burackbobby_: A Democrat lawmaker confirmed to FOX that Dems have received a piece of paper with talking points/lies about how to discuss Kamala Harris’ role at the Southern border. They are already using the exact lines. https://t.co/CITguKLWCD @DavidSacks: “Harris was never border czar” is the new “Biden is sharp as a tack.” @charliekirk11: 12 years before Joe Biden made her the Border Czar, San Francisco DA Kamala Harris let illegal immigrant drug offender clear their records in order to protect them from deportation. Let’s repeat that: Kamala Harris made a special effort to make sure that illegal immigrants who COMMITTED CRIMES in America got to stay here. Thankfully, the press can’t delete newspaper front pages from 15 years ago. https://x.com/charliekirk11/status/1816578351462584419 Kamala Harris and her Amen media chorus are working feverishly to deny that she helped raise funds to bailout Minneapolis protestors that went wild in the George Floyd riots. Here is receipt of fund raising: https://x.com/StephenM/status/1816629497896087832 America First Legal Launches 7 Investigations into Kamala Harris’ Record As California Attorney General https://aflegal.org/america-first-legal-launches-7-investigations-into-kamala-harris-record-as-california-attorney-general/ DJT was very savvy when he labeled Harris as being an extremist on abortion. She won’t condemn up-to-birth abortion and voted against a bill that would halt abortions at 20 weeks. Americans are overwhelmingly against late term abortion, let alone abortion near birth. Instead of being defensive about abortion like most GOP pols, DJT went on the offensive. Dems are clear on their 2024 campaign strategy: play up abortion; demonize Trump. Democrats hope Harris’ bluntness on abortion will lead to 2024 wins https://www.pbs.org/newshour/politics/democrats-hope-harris-bluntness-on-abortion-will-lead-to-2024-wins @JackPosobiec: KAMALA HARRIS: “What else do we know about this population, 18-24? They are stupid! That is why we keep them in dormitories. They make really bad decisions!” This is going viral on TikTok. https://x.com/JackPosobiec/status/1816466441773760875 Finally, Nancy Pelosi officially endorsed Vice President Kamala Harris for president. @nickineily: Watch Randi Weingarten beg her union members to not protest during Kamala Harris’ upcoming speech: “I’m asking all of us to honor the rules that they have asked us to honor…I’m asking all of us to use our moral obligation to each other to not protest inside the hall…this is the first female African-American AAPI candidate for the presidency of the United States!” https://x.com/nickineily/status/1816466535117918251 Kamala Harris rails against restricting sexually explicit and pornographic content from elementary schools — SICK! https://t.co/ueRIj9PPYg @EndWokeness: VP Kamala Harris explains her ideology: “Everyone ends up in the same place.” This is called communism. https://t.co/tqw7J0E1Cu Babylon Bee: Kamala Harris Distances Herself from Kamala Harris https://t.co/ETW2mwCmD4 @bennyjohnson: Trump just posted this; AP 2016: California’s Kamala Harris becomes first Indian American US Senator; AP 2020: Biden Picks Kamala Harris as running mate, first Black woman https://x.com/bennyjohnson/status/1816197883298828316 Coup Upon Coup Upon Coup – In 2020, covert actors manipulated the Democratic primary to ensure Joe Biden’s nomination and later controlled his presidential agenda, ultimately forcing him to step down in favor of Kamala Harris… Biden had lost the first three races in Iowa, New Hampshire, and Nevada—and only won his first victory in South Carolina. Suddenly, on the eve of the Super Tuesday mega-primaries, the candidacies of front-runner Bernie Sanders, Pete Buttigieg, Elizabeth Warren, and others simply evaporated. The fear of a front-runner Sanders’ socialist victory and nomination—and thus an enviable landslide loss to incumbent Donald Trump in the general election—had prompted the donor class and shadowy political insiders to act… Rumors of that prior March 2020 Faustian bargain emerged. The Bidens got to serve as useful moderate veneers. So, they enjoyed the ceremonial functions of the presidency while outsourcing the real operations to former Obama officials, consultants, and advisors… We have now witnessed three left-wing veritable coups… https://amgreatness.com/2024/07/25/coup-upon-coup-upon-coup/ @elonmusk: People who have been lifelong Democrats refuse to accept the clear reality that the Democratic Party is rapidly become openly antisemitic. This trend is accelerating, not slowing down. Trump hopes US ‘obliterates Iran’ if he’s assassinated by the American adversary “If that does not happen, American Leaders will be considered ‘gutless’ cowards!” he added… https://trib.al/Hj4lMRs GOP Sen. @HawleyMO: This judicial nominee thinks police enforcing TRAFFIC LAWS is racist. And any detention of illegals at the border is “abhorrent.” Where do they find these people? https://x.com/HawleyMO/status/1816500900686401696 GOP Sen. @SenHawleyPress: This Biden judicial nominee sits on the board of directors for a group who thinks anything less than an open border is “cruel and inhumane.” Senator Hawley: “Tell me about that.” https://t.co/HcJyplRDlc China Expanding ‘Increasingly Brazen’ Influence Operations In The US And Beyond, Gov’t Report Warns – targeting foreign countries’ media environments, business elites, academic institutions and political figures to co-opt and advance China’s interests… https://dailycaller.com/2024/07/23/china-expanding-brazen-influence-operations-us-beyond-report/ | |
GREG HUNTER
SEE YOU ON MONDAY
harveyorganblog.com 
