GOLD PRICE CLOSED UP $31.50 TO $2423.60
SILVER PRICE UP $0,70 TO $27.55
Gold ACCESS CLOSED $2423.70
Silver ACCESS CLOSED: $27,47
Bitcoin morning price:$57,388 UP 2412 DOLLARS.
Bitcoin: afternoon price: $59,866 UP 4890 DOLLARS
Platinum price closing UP $6.75 TO $923.35
Palladium price; UP $17.60 TO $897.00
END
SHANGHAI GOLD PREMIUM 12 DOLLARS/COMEX GOLD//august to august
SHANGHAI GOLD (USD) FUTURES – QUOTES
Last Updated 08 Aug 2024 01:33:16 PM CT.
Market data is delayed by at least 10 minutes.
*CANADIAN GOLD: $3328.01 UP 48.28 CDN dollars per oz( * NEW ALL TIME HIGH 3,390.26 CDN DOLLARS PER OZ//AUG 1 2024)
*BRITISH GOLD: 1,901.30 UP 20.97 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024
*EURO GOLD: 2,220.41 UP 38.02 Euros per oz //* (ALL TIME CLOSING HIGH: 2.264.61 EUROS PER OZ//AUGUST 1 //.2024)
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END
EXCHANGE: COMEXEXCHANGE: COMEX
CONTRACT: AUGUST 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,390.500000000 USD
INTENT DATE: 08/07/2024 DELIVERY DATE: 08/09/2024
FIRM ORG FIRM NAME ISSUED STOPPED
118 H MACQUARIE FUT 1
190 H BMO CAPITAL 10
323 C HSBC 2
555 H BNP PARIBAS SEC 3
657 C MORGAN STANLEY 1
661 C JP MORGAN 38 16
661 H JP MORGAN 9
709 C BARCLAYS 2
905 C ADM 6
TOTAL: 44 44
MONTH TO DATE: 17,119
JPMorgan stopped 25/44
GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 44 NOTICES FOR 4400 OZ or 0.1368 TONNES
total notices so far: 17,119 contracts for 1,711,900 Oz (53.297 tonnes)
FOR AUGUST:
SILVER NOTICES: 2 NOTICE(S) FILED FOR 10,000
OZ/
total number of notices filed so far this month : 682 for 3.4100 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 $31.50 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ SMALL CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.02 TONNES OF GOLD INTO THE GLD//
/ /INVENTORY RESTS AT 844.04 TONNES
INVENTORY RESTS AT 844.04 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $0.70 AT THE SLV
HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 3.241 MILLION OZ INTO THE SLV/
// INVENTORY AT 465.743+ MILLION OZ/
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.
CLOSING INVENTORY: 465.743 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A FAIR SIZED 288 CONTRACTS TO 147,249 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH HUGE LIQUIDATION OF OI FROM OUR SPREADERS/TAS WITH OUR LOSS OF $0.27 IN SILVER PRICING AT THE COMEX ON WEDNESDAY’S TRADING // //RAID. SOME OF OUR OI LIQUIDATION ACCOMPANIED OUR SMALL NET GAIN OF 62 CONTRACTS ON OUR TWO EXCHANGES AS WE HAD HUGE LIQUIDATION OF T.A.S. CONTRACTS DURING WEDNESDAY’S TRADING// RAID. WE HAD SOME ZERO COVERING BY OUR SPECS DESPITE THE CONSIDERABLE LOSS IN PRICE AS WE HAD A GOOD 350 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUMONGOUS 3667 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED 62 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE.
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. THE DEMAND FOR SILVER WAS JUST TOO GREAT FOR OUR BANKERS TO CONTAIN AND THUS THE STEEP RISE IN OI ON OUR TWO EXCHANGES DESPITE THE TINY GAIN IN PRICE.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON WEDNESDAY NIGHT: 3667 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 BUT TO NO AVAIL. 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 $0.27) BUT WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS WE HAD A SMALL SIZED GAIN OF 62 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A GOOS 350 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.005 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 15,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 3.9650 MILLION OZ
//NEW STANDING FOR SILVER//AUGUST IS THUS 3.9650 MILLION OZ
WE HAD:
/ FAIR SIZED COMEX OI LOSS //GOOD SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 3667 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 62 CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF AUGUST
TOTAL CONTRACTS for 6 DAYS, total 9490 contracts: OR 47.450 MILLION OZ (1582 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 45.700 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: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)
AUGUST; 47.450 MILLION OZ//THIS MONTH WILL PROBABLY BE A DOOZY FOR ISSUANCE.
RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 288 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A GOOD EFP ISSUANCE CONTRACTS: 350 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 AUGUST OF 3.005 MILLION OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 15,000 OZ QUEUE JUMP
//NEW TOTAL STANDING FOR JULY 3.9650 MILLION OZ
WE HAVE A SMALL SIZED LOSS OF 62 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GIGANTIC SIZED 3667 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX TRADING WHICH ACCOUNTS FOR THE MAJOR PORTION OF THE COMEX OI LOSS//// SOME SHORT COVERING FROM OUR SPEC SHORTS AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.
THE NEW TAS ISSUANCE WEDNESDAY NIGHT (3667) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 2 NOTICE(S) FILED TODAY FOR 10,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 2027 OI CONTRACTS TO 478,618 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 A 325 CONTRACTS
WE HAD A FAIR SIZED DECREASE IN COMEX OI (2027 CONTRACTS) OCCURRED DESPITED OUR GAIN OF $1.90 IN PRICE/WEDNESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. AS WELL AS ORCHESTRATING THE RAID. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 65.55 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP AS FINALLY GUYS ARE STANDING FOR GOLD AT THE COMEX
NEW STANDING REDUCES TO 65.250 TONNES
/ ALL OF THIS HAPPENED WITH OUR $1.90 GAIN IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 3053 OI CONTRACTS (9.496 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK.
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUGE SIZED 5080 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 478,618
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3053 CONTRACTS WITH 2027 CONTRACTS DECREASED AT THE COMEX// AND A HUGE SIZED 5080 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3378 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD 2580 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5080 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI OF 2027 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3053 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 AUGUST AT 65.55 TONNES FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP AS THESE BOYS JUMP THE QUEUE TO STAND AT THE COMEX./
//NEW STANDING REDUCES TO: /AUGUST 65.250 TONNES.
/ 3) HUGE T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) FAIR SIZED COMEX OPEN INTEREST LOSS 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///GOOD T.A.S. ISSUANCE: 2580 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY
AUGUST
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF AUGUST. :
TOTAL EFP CONTRACTS ISSUED: 40,361 CONTRACTS OF 4,036,100 OZ OR 125.53 TONNES IN 6 TRADING DAY(S) AND THUS AVERAGING: 6726 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 6 TRADING DAY(S) IN TONNES 125.53 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 125.53 DIVIDED BY 3550 x 100% TONNES = 3.53% 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/SECOND HIGHEST ON RECORD
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: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III)
AUGUST: 125.53 TONNES//THIS MONTH WILL NO DOUBT BE A HUGE ISSUANCE OF EFP’S SIMILAR TO SILVER. QUITE POSSIBLY WILL BE A RECORD ISSUANCE
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 FAIR SIZED 288 CONTRACTS OI TO 147,300 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020). THE LAST RECORDS WERE SET IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 6 YEARS AGO. HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023
EFP ISSUANCE 350 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 3550 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 3550 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 288 CONTRACTS AND ADD TO THE 350 E.FP. ISSUED
WE OBTAIN A SMALL SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 62 CONTRACTS
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 0.310 MILLION OZ OCCURRED DESPITE OUR $.27 LOSS IN PRICE
END
OUTLINE FOR TODAY’S COMMENTARY
1a/COMEX GOLD AND SILVER REPORT
(report Harvey)
b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES
(Peter Schiff)
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 0.07 PTS OR 0.00% //Hang Seng CLOSED UP 13.97 PTS OR 0.08% // Nikkei CLOSED DOWN 258.47 OR 0.74%//Australia’s all ordinaries CLOSED DOWN .23%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1725 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1704/ Oil UP TO 75.27 dollars per barrel for WTI and BRENT DOWN AT 78.26 Stocks in Europe OPENED ALL RED
ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
A)NORTH KOREA/SOUTH KOREA
outline
b) REPORT ON JAPAN/
OUTLINE
3 CHINA
OUTLINE
4/EUROPEAN AFFAIRS
OUTLINE
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE
6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE
7. OIL ISSUES
OUTLINE
8 EMERGING MARKET ISSUES
9. USA
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 20277 CONTRACTS TO 478,943 DESPITE OUR GAIN IN PRICE OF $1.90 WITH RESPECT TO WEDNESDAY’S TRADING//RAID. WE LOST A HUGE NUMBER OF SPREADER/T.A.S. CONTRACTS AS SHORTS PANICKED QUITE EARLY IN THE SESSION AND COVERED AT MUCH HIGHER PRICES. THEN THE FED ORCHESTRATED ANOTHER SMALL RAID AGAIN AS THEY TRIED TO COVER THEIR MASSIVE GOLD SHORTFALL OWING TO THE BIS. THIS EVENT CAME IN CONTACT WITH MANY CENTRAL BANKS EXERCISING THEIR CONTRACTS VIA THE EXCHANGE FOR PHYSICAL ROUTE AND TENDERING FOR PHYSICAL GOLD. SEEMS THAT THE FED WILL BE HELL-BENT TRYING TO COVER. THEY PROBABLY SUCCEEDED IN COVERING A LOT OF THEIR SHORTFALL ON DAY 3 OF OUR COMEX RAIDS
OUR LONDONERS ALSO BOUGHT NEW MASSIVE QUANTITIES OF LONGS AND THIS WILL BE TENDERED FOR PHYSICAL ON A T + 1 BASIS. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD MUST BE DELIVERED IN A VERY TIMELY ONE DAY I.E. WEDNESDAY MORNING. 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 WEDNESDAY’S SMALL GAIN IN PRICE WITH ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE 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 THAT SHINY YELLOW METAL.
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW ENTERING INTO THE ACTIVE DELIVERY MONTH OF AUGUST.… 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 STRONG SIZED 5080 EFP CONTRACTS WERE ISSUED: : OCT/DEC 5080 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5080 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 3378 CONTRACTS IN THAT 5080 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED LOSS OF 2027 COMEX CONTRACTS..AND THIS FAIR GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $1.90/WEDNESDAY COMEX RAID. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE.
AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR WEDNESDAY NIGHT A GOOD SIZED 2580 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 AND ESPECIALLY ON WEDNESDAY’S TRADING/RAID.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: AUGUST (65.250 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: 11.692 TONNES
AUGUST 65.250 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $1.90 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A FAIR GAIN IN OUR TWO EXCHANGES. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A HUGE SIZED T.A.S. LIQUIDATION WEDNESDAY/COMEX
WE HAVE GAINED A TOTAL OI OF 9.496 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL GOLD TONNAGE STANDING FOR AUGUST (65.55 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 200 OZ QUEUE JUMP T//NEW STANDING: 65.250 TONNES.
NEW STANDING FOR AUGUST: 65.250 TONNES
ALL OF THIS WAS ACCOMPLISHED DESPITE OUR GAIN IN PRICE TO THE TUNE OF $1.90
WE HAVE REMOVED 325 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 3053 CONTRACTS OR 305,300 OZ (9.496
TONNES)
confirmed volume WEDNESDAY 177,481 contracts//poor
fair
//speculators have left the gold arena
AUGUST 8 AUGUST GOLD CONTRACT
/ /// THE AUG 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 | nil |
| Deposits to the Customer Inventory, in oz | NIL oz |
| No of oz served (contracts) today | 44 notice(s) 4400 OZ 0.1368 TONNES |
| No of oz to be served (notices) | 3859 contracts 385900 OZ 12.00 TONNES |
| Total monthly oz gold served (contracts) so far this month | 17,119 notices 1,711,900 oz 53.297 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
adjustments: 1
dealer to customer Brinks 21,123.207 oz
ii) dealer to customer
Loomis: 482.265 oz
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JULY
For the front month of AUGUST we have an oi of 3903 contracts having LOST 3 contracts.
We had 5 contracts served on Wednesday so we finally gained an additional 2 contracts or 200 oz will stand for gold at the comex
SEPT. GAINED 28 CONTRACTS TO STAND AT 5362 CONTRACTS.
OCTOBER LOST 462 CONTRACTS UP TO 50,973 CONTRACTS
We had 44 contracts filed for today representing 4400 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 39 notices were issued from their client or customer account. The total of all issuance by all participants equate to 44 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 25 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for AUGUST /2024. contract month, we take the total number of notices filed so far for the month (17,119) x 100 oz ) to which we add the difference between the open interest for the front month of August 3903( CONTRACTS) minus the number of notices served upon today (44 x 100 oz per contract( equals 2,097,800 OZ OR 65.250 TONNES.
thus the INITIAL standings for gold for the AUGUST contract month: No of notices filed so far (17119 x 100 oz +we add the difference for front month of AUGUST (3903 X// , OI} minus the number of notices served upon today (44) x 100 oz which equals 2,097,800 oz (65.250 TONNES)
TOTAL COMEX GOLD STANDING FOR AUGUST: 65.250 TONNES WHICH IS HUGE FOR THIS 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: 1,653,477.242 oz 51.43 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,729,527.234 OZ
TOTAL REGISTERED GOLD 7954,841.143 ( 247.42 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,774, 686.091 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,301,364 oz (REG GOLD- PLEDGED GOLD)= 195.99 tonnes //
END
SILVER/COMEX
AUGUST 7/2024
INITIAL
//2024// THE AUG 2024 SILVER CONTRACT//INITIAL
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 88,295.320 OZ Delaware HSBC . |
| Deposits to the Dealer Inventory | |
| Deposits to the Customer Inventory | nil |
| No of oz served today (contracts) | 2 CONTRACT(S) (10,000 OZ) |
| No of oz to be served (notices) | 111 contracts (0.555 million oz) |
| Total monthly oz silver served (contracts) | 682 Contracts (3.41000 MILLION oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
i) 0 dealer deposit/
total dealer deposit : nil oz
i) We had 0 dealer withdrawal
total dealer withdrawals: 0 oz
We had 0 customer deposits:
total customer deposit nil oz
JPMorgan has a total silver weight: 134.771million oz/303.108million or 44.44%
adjustment:1;dealer to customer HSBC 413,214.830 oz
withdrawals: 2
i) Out of Delaware: 7820.47
i) Out of HSBC: 80,474.850 oz
total customer withdrawals: 88,295.320 oz
TOTAL REGISTERED SILVER: 70.185 MILLION OZ//.TOTAL REG + ELIGIBLE. 303.108 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:
silver open interest data:
FRONT MONTH OF AUGUST/2024 OI: 113 CONTRACTS HAVING LOST 99 CONTRACT(S).
WE HAD 102 NOTICES SERVED ON WEDNESDAY, SO WE GAINED 3 CONTRACTS OR AN ADDITIONAL 15,000 OZ WILL STAND FOR SILVER AT THE COMEX.
SEPT SAW A LOSS OF 5183 CONTRACTS TO 88,706. SEPT NOW BECOMES THE NEW FRONT MONTH
OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 6 CONTRACTS AND THUS WE HAVE 153 OPEN INTEREST CONTRACTS FOR OCTOBER.
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000 oz
CONFIRMED volume; ON TUESDAY 81,050 strong
To calculate the number of silver ounces that will stand for delivery in AUGUST we take the total number of notices filed for the month so far at 682 x 5,000 oz = 3.410 MILLION oz
to which we add the difference between the open interest for the front month of AUGUST( 113) and the number of notices served upon today 2 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the AUGUST/2024 contract month: 682 notices served so far) x 5000 oz + OI for the front month of AUGUST (113)x number of notices served upon today minus (2)x 5000 oz of silver standing for the AUGUST contract month equates to 3.9650 MILLION OZ.
New total standing: 3.9650 million oz.
There are 70.185 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!
GLD
AUGUST 8 WITH GOLD UP $31.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.02 TONNES OF GOLD OUT OF THE GLD////INVENTORY RESTS AT 844.04 TONNES
AUGUST 7 WITH GOLD UP $1.90 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 3.16 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 848.06 TONNES
AUGUST 6 WITH GOLD DOWN $13.10 ON THE DAY; SMALL CHANGES IN GOLD AT THE GLD” A WITHDRAWAL OF .57 TONNES OF GOLD FROM THE GLD////INVENTORY RESTS AT 844.90 TONNES
AUGUST 2 WITH GOLD DOWN $9.95 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 0.58 TONNES OF GOLD OUT OF THE GLD//INVENTORY RESTS AT 845.47 TONNES
AUGUST 1 WITH GOLD UP $9.15 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 2.88 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 846.05 TONNES
JULY 30 WITH GOLD UP $26.55 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// A /////INVENTORY RESTS AT 843.17 TONNES
JULY 29 WITH GOLD UP $27.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF 1.98 TONNES OF GOLD OUT OF THE GLD/////INVENTORY RESTS AT 843.17 TONNES
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
GLD INVENTORY: 844.04 TONNES, TONIGHTS TOTAL
SILVER
AUGUST 8//WITH SILVER UP $.70//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 3.241 MILLION OZ INTO THE SLV////./// /INVENTORY AT 462.502 MILLION OZ
AUGUST 7//WITH SILVER DOWN $0.27//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 4.552 MILLION OZ INTO THE SLV////./// /INVENTORY AT 462.502 MILLION OZ
AUGUST 6//WITH SILVER UP $0.05//NO CHANGES IN SILVER INVENTORY:///./// /INVENTORY AT 458.851 MILLION OZ
AUGUST 2//WITH SILVER DOWN $0.01//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 1.243 MILLION OZ OF SILVER OUT OF THE SLV ///./// /INVENTORY AT 460.961 MILLION OZ
AUGUST 1//WITH SILVER DOWN $0.46//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 1.608 MILLION OZ OF SILVER VAPOUR INTO THE SLV///./// /INVENTORY AT 462.204 MILLION OZ
JULY 31//WITH SILVER UP $0.45//NO CHANGES IN SILVER INVENTORY: /./// /INVENTORY REMAINS AT 460.596 MILLION OZ
JULY 30//WITH SILVER UP $0.61//SMALL CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 0.456 MILLION OZ OF SILVER VAPOUR INTO THE SLV/./// /INVENTORY RISES AT 460.596 MILLION OZ
JULY 29//WITH SILVER DOWN $0.07//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 4.382 MILLION OZ OF SILVER VAPOUR INTO THE SLV/./// /INVENTORY RISES AT 461.052 MILLION OZ
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./
CLOSING INVENTORY 465.743 MILLION OZ//
PHYSICAL GOLD/SILVER COMMENTARIES
1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY
Kentucky Governor Plans To Collect Sales Tax On Gold And Silver Despite New Law
WEDNESDAY, AUG 07, 2024 – 07:15 PM
Authored by Mike Maharrey via Money Metals,
Kentucky Governor Andy Beshear has decided he’s going to continue collecting sales tax on the sale of gold and silver despite a new law repealing the levy and an attorney general opinion calling his line-item veto of the provision unconstitutional.
Only five other states levy a sales tax on gold and silver.
Initially, Rep. Steven Doan and Rep. John Hodgson introduced a standalone bill to repeal the sales and use tax on gold and silver bullion. The provisions were later inserted into House Bill 8 (HB8), an omnibus revenue and tax bill.
The provisions in HB8 define “bullion” as “bars, ingots, or coins, which are made of gold, silver, platinum, palladium, or a combination of these metals, valued based on the content of the metal and not its form and used, or have been used, as a medium of exchange, security, or commodity by any state, the United States government, or a foreign nation.” Currency is defined as “a coin or currency made of gold, silver, platinum, palladium, or other metal or paper money that is or has been used as legal tender and is sold based on its value as a collectible item rather than the value as a medium of exchange.”
The House passed the bill 87-9 and the Senate approved the measure 34-0.
Gov. Beshear signed the bill but used a line-item veto to strike out the sales tax exemption for gold and silver.
“If you own gold, you can afford to pay sales tax,” Beshear wrote in his veto message. “Tangible goods are the primary basis of the sales tax.”
Unconstitutional Veto?
House and Senate leadership deemed the veto unconstitutional. Under Sec. 88 of the Kentucky Constitution, “The Governor shall have the power to disapprove any part or parts of appropriation bills embracing distinct items, and the part or parts disapproved shall not become a law unless reconsidered and passed, as in case of a bill.”
In other words, the governor only has line-item veto power on appropriation (spending) bills. A line-item veto power does not exist for revenue bills.
Instead of simply overriding the veto, Republican leadership decided to make a political statement and try to give Beshear a black eye. It asked Attorney General Russell Coleman to issue an opinion on the constitutionality of the veto, and he agreed with the legislature’s assessment.
“Because the Governor’s veto power must be strictly construed, and because House Bill 8 is not an ‘appropriation bill,’ Section 88 does not empower the Governor to use his line-item veto on it. The Governor’s attempted line-item vetoes of House Bill 8 were nullities, as they exceeded his constitutional authority.”
Based on the AG’s (non-binding) opinion, the legislature directed the secretary of state to ignore the veto and enroll the statute. It went into effect on August 1.
Beshear Begs to Differ
Gov. Beshear rejected the AG’s opinion and has directed the Department of Revenue to collect the sales tax despite the law technically being on the books.
Beshear spokesman James Hatchett called the AG’s opinion “incorrect.”
“The very title of the bill at issue says it makes an appropriation. The governor properly exercised his constitutional authority to veto parts of the bill, and previous legal opinions have upheld similar line-item vetoes.”
Hatchett was referring to the first line of HB8: “AN ACT relating to fiscal matters, making an appropriation therefor, and declaring an emergency.” [Emphasis added]
The legal question boils down to whether or not a single appropriation in a revenue bill makes the bill an “appropriation bill.”
The National Coin and Bullion Association issued a statement highlighting the dilemma for gold and silver dealers and buyers in Kentucky.
“Retailers are now faced with a challenging decision. Collecting sales tax could result in consumer backlash and potential class action lawsuits for overcharging, while not collecting it might lead to penalties or interest from the Kentucky Department of Revenue. Given the rapidly evolving situation, each dealer must decide whether to charge sales tax on transactions involving bullion and currency starting August 1.”
Until there is a legal resolution, which will likely require a lawsuit, Money Metals plans to charge sales tax to Kentucky customers.
Here is the official position from Money Metals:
“Despite the new tax exemption in state law, the Democrat Kentucky governor and his Department of Revenue are threatening dealers and citizens with legal action if they refuse to pay/remit sales taxes on gold and silver purchases. However, you can avoid taxes if your order is delivered to a state without sales taxes OR when you store your precious metals in your secure account at the Idaho-based Money Metals Depository.”
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY
lio.
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
4. GOLD PODCASTS//LIVE FROM THE VAULT/no 184 with Craig Hemke/Andrew Maguire
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COCOA
Cocoa Prices Rise As US Stockpiles In Exchange-Monitored Warehouses Hit Four-Year Low
THURSDAY, AUG 08, 2024 – 02:45 AM
Cocoa futures in New York remain range-bound within a symmetrical triangle pattern after peaking near $12,000 a ton in mid-April, finding support around $7,000. Futures are rising this morning as traders are concerned about dwindling stockpiles in US warehouses.
New data from ICE exchange-monitored warehouses shows US cocoa stockpiles have slumped to the lowest levels since December 2019. Given the global tightening of cocoa supplies theme, the bags held in US warehouse could extend declines in the coming weeks and or months.
The most-active contract rose as much as 5.6% in New York. Inventories of cocoa beans held in the US have fallen to the lowest in more than four years as tightness in the market force grinders to draw down inventories in exchange-monitored warehouses. -Bloomberg
Bloomberg noted that even though the “cocoa market is expected to flip to a surplus in the 2024-25 season,” there is still increasing concern among commercial users that shortages will persist due to West Africa’s previous poor harvests, adding, “Cocoa arrivals at ports in top grower Ivory Coast are still lagging behind the prior season by more than a quarter, the latest data shows.”
Higher cocoa costs are continuing to be passed along to cash-strapped consumers.
The iconic US chocolate maker Hershey reported last week that it slashed its sales and earnings outlook for the year as shoppers reduced purchases of higher-priced chocolates and candies. In other words, demand destruction is emerging.
Nothing to see here.
Besides consumer demand destruction fears, cocoa prices have been weighed down by expectations of better harvests in West Africa. Prices are still 116% higher than at the start of the year.
Despite these price swings, oil trader Pierre Andurand remains bullish on the view that the stocks-to-grinding ratio for the world at the end of the year will be at its lowest ever “and potentially run out of inventories late in the year.”
end
COPPER
Copper Slumps As China Dumps Base Metal Into Asian Warehouses
WEDNESDAY, AUG 07, 2024 – 08:30 PM
Copper inventories in Asian warehouses are swelling at an incredibly fast pace as the base metal that led the ‘Next AI Trade’ is under pressure once again, hitting the lowest levels in four months. The refined metal is flowing out of China into neighboring warehouses in South Korea and Taiwan, indicating that more downside for prices is ahead.
his chart is probably not what Taiwan wants to see
·
78.4K Vie
Goldman’s Adam Gillard told clients this AM that the copper “surplus continues to build; think price grinds lower despite the recent positioning cleanse until the State Grid return.”
Gillard highlighted that copper stockpiles at the London Metal Exchange in Asia have surged to their highest levels since mid-2018. Since peaking at $10,889 in mid-May, LME 3-month rolling forward copper prices have declined by over 18%, currently hovering around $8,928.
Although Asian inventory builds from legacy Chinese tolling exports are not new, today’s 40k MT delivery was a surprise basis July Chinese exports (because we thought most of what China exported had become visible already). The bull stock-out thesis was in part predicated on a tight supply chain given negative carry and high rates. Said another way, there shouldn’t be this much metal left in the woodwork to become visible.
Asian LME inventory is the highest since mid-2018.
Gillard observed that the surge in stockpiles at warehouses is now showing up in global inventory levels:
Global visible inventory: Taking 40k MT from July US imports (difference vs trend) and adding to CMX inventories results in total visible copper inventory of 794k MT vs 262k MT a/o January 1.
An abrupt surge…
“Whilst we concede it’s sketchy data BBG are reporting July US imports at 76k MT, an ATH (in response to May CMX / LME arb blowout),” Gillard noted about US imports of the base metal.
Rising warehouse inventories indicate a continued slowdown in China. Bloomberg reported that the world’s second-largest economy has started “exporting in unusually high volumes in recent months,” effectively exporting deflation. Additionally, concerns about a slowdown in the US have surfaced in recent days.
However, Chinese smelter production is still running above average.
Gillard also noted, “LME spec length has dropped to $4bn vs $19bn at the highs during the recent sell off.”
And he said CTAs are still shot.
In mid-May, around the time copper prices peaked, Jeff Currie, who led commodities research at Goldman Sachs for nearly three decades and now serves as the chief strategy officer of the energy pathways team at Carlyle Group, stated that the copper trade was the “most compelling trade” he has seen in his “30 plus years of doing this” because it’s “got green CapEx, it’s got AI, remember AI can’t happen without the energy demand and the constraint on the electricity grid is going to be copper.”
On May 15, The Market Ear penned a note to subs about an “overheated” copper market.
On June 8, Trafigura Chief Economist Saad Rahim said, “Prices of non-ferrous metals have moved much higher than fundamentals in the physical spot market might indicate or justify, especially for copper.”
Hmm.
Hey Grok, why is China stockpiling copper as if it is preparing for war
·
546.4K Views
What’s clear is that the AI theme has run its course for now, overshadowed by China exporting deflation to the world
6 CRYPTOCURRENCY NEWS
END
ASIA TRADING/THURSDAY MORNING/WEDNESDAY NIGHT
SHANGHAI CLOSED UP 0.07 PTS OR 0.00% //Hang Seng CLOSED UP 13.97 PTS OR 0.08% // Nikkei CLOSED DOWN 258.47 OR 0.74%//Australia’s all ordinaries CLOSED DOWN .23%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1725 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1704/ Oil UP TO 75.27 dollars per barrel for WTI and BRENT DOWN AT 78.26 Stocks in Europe OPENED ALL RED
ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS THURSDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1725
OFFSHORE YUAN: DOWN TO 7.1704
SHANGHAI CLOSED UP 0.07 PTS OR 0.00 %
HANG SENG CLOSED UP 13.97 PTS OR 0.08%
2. Nikkei closed DOWN 258.47 PTS OR 0.74%
3. Europe stocks SO FAR: ALL RED
USA dollar INDEX UP TO 102.87 EURO RISES TO 1.0931 UP 14 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +0.847 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.16…… JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE REIGNITING OF THE YEN CARRY TRADE AFTER DISASTROUS POLICY ISSUED BY UEDA
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: 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 DOWN TO +2.246/Italian 10 Yr bond yield DOWN to 3.679 SPAIN 10 YR BOND YIELD DOWN TO 3.102%
3i Greek 10 year bond yield DOWN TO 3.344
3j Gold at $2407.50//Silver at: 27.02 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 23/ 100 roubles/dollar; ROUBLE AT 86.99
3m oil into the 75 dollar handle for WTI and 78 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 146.16/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.847 % 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 0.8575 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9372 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: 3.934 DOWN 3 BASIS PTS…
USA 30 YR BOND YIELD: 4.241 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.968 DOWN 4 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 33.52…
10 YR UK BOND YIELD: 3.982 DOWN 4 PTS
10 YR CANADA BOND YIELD: 3.161 DOWN 3 BASIS PTS
2a New York OPENING REPORT
Futures Rebound From Overnight Lows As Sentiment Remains On Edge
THURSDAY, AUG 08, 2024 – 08:10 AM
After three rollercoaster days of wild, brutal swings, futures are flat ahead of the Thursday open, erasing overnight losses if still below the all-important CTA threshold level of 5255 which trigger billions in sales by systematic funds. Asian and European stocks declined, prolonging the soaring volatility that has gripped global markets for days after the BOJ effectively steamrolled the carry trade last week when it unexpectedly hiked rates, only to U-turn just days later when the Nikkei suffered its biggest one day crash since Black Monday. As of 7:4am S&P futures were unchanged at 5,228 while Nasdaq futures were fractionally in the green, with Mag7 and semis providing support despite the continued selling by Supermicro. Treasuries yields are lower ahead of US jobless claims data, with US 10-year yields falling 2bps to 3.93% as European bonds also gain. Keep an eye on bonds as yesterday’s 10Y auction was weak but that could have been negatively impacted by elevated Credit issuance; today is the 30Y auction. The USD is weaker and commodities are lower across all 3 complexes as WTI dips below $75, but precious metals catch a bid. Today’s macro data focus is on jobless claims; a spike there preceded a weaker NFP that coincided with the carry unwind so the market may have heightened sensitivity to the print. Elsewhere, both Goldman and JPMorgan raised their recession odds, from 10% to 25% and from 25% to 35%, respectively.
In premarket trading, Warner Bros shares plunged after the parent of CNN and TNT posted a $9.1 billion charge write-down on the value of its traditional TV networks. Monster Beverage shares slid after the energy-drink maker missed second-quarter profit estimates. Here are all the notable premarket movers:
- Amneal rises 6% after the drug maker received US FDA approval for its extended-release capsules for the treatment of Parkinson’s Disease, named Crexont.
- Bumble plunges 41% after the dating company slashed its annual revenue outlook, suggesting that an overhaul of the brand’s flagship app has failed to meaningfully reignite growth.
- Dutch Bros slumps 22% after the drive-through coffee chain tempered its store growth outlook.
- Lilly rises 10% after lifting its 2024 sales outlook for the second time this year as its blockbuster weight-loss drug Zepbound outsold expectations.
- JFrog sinks 26% after the application software company cut its full-year forecast.
- Klaviyo jumps 18% after the company boosted its revenue guidance for the year.
- Monster Beverage falls 8% after growth in the energy-drink maker’s revenue and drink volumes slowed to its worst rate since the start of the Covid-19 pandemic.
- SolarEdge tumbles 15% after the renewable energy firm’s revenue forecast for the 3Q came in well below the average analyst estimate.
- Under Armour rises 7% as management raised its guidance as the sports gear brand restructures under returning founder Kevin Plank.
Markets have been extremely volatile since poor jobs data last week fueled worries that Federal Reserve policy is risking a deeper slowdown. Coupled with a rate hike by the BOJ, the carry trade has suffered a historic unwind which according to JPM is about 75% done. Thursday’s US jobless claims figures are in sharper focus than ever after last week’s flimsy payrolls numbers. Investors are also bracing for the US and Japanese central banks to potentially move interest rates in opposite directions in the coming months, putting further strain on the yen-funded carry trade.
This is a “consolidation period before any new trend, given how volatile the market has been,” said Kerry Goh, chief investment officer at Kamet Capital Partners Pte. “Investors probably will stay sidelined until new data appear. The next couple of days will be crucial — either calm returns, or we see a new bout of volatility emerge.”
Meanwhile, as discussed last night, the divergence in US and Japanese central bank monetary policy is set to undermine the yen’s role as a cheap source of funding for financial assets. A Thursday summary of the minutes from last week’s Bank of Japan meeting showed that authorities didn’t see last months surprise rate hike as policy tightening. However, just days later, and following an epic Japanese stock rout, Deputy Governor Shinichi Uchida yesterday said the BOJ won’t raise interest rates when financial markets are unstable, a reassurance that helped buoy stocks and sent the yen lower.
Three-quarters of the carry trade has been unwound as the recent slump wiped out all positive year-to-date returns, according to strategists at JPMorgan while Goldman analysts believe that positioning in the yen is now net long, suggesting most of the carry trade has been unwound.
The carry strategy, which involves borrowing at low rates to fund purchases in higher-yielding assets elsewhere, has been wobbling for months. Carry trades were pummeled over the past week as global market volatility jumped amid fears of rapid Fed rate cuts and after the Bank of Japan’s larger than expected rate hike. The unspooling of the carry trade has further room to run, according to Quincy Krosby at LPL Financial. “A softer dollar, driven by the market’s perception that the Fed will soon initiate an easing cycle, should help support a stronger yen — a negative for the trade.”
Elsewhere, debate about the path of the US economy continues. JPMorgan now sees a 35% chance that the US economy tips into a recession by the end of this year, up from 25% as of the start of last month. The bank’s new calculation for recession risks followed just hours after a similar step by Goldman, which now sees a 25% probability of a recession in the next year.
Other investors, however, argue that the data still point to a soft landing. “I’m not that worried for the US economy. Yes, unemployment is a concern but it’s not dramatic, it’s just a slowdown,” said Francois Rimeu, a strategist at La Francaise Asset Management in Paris. “I take the view that this was just a volatility episode like we’ve experienced in the past during the summer.”
Europe’s Stoxx 600 index reversed much of Wednesday’s advance, dragged lower by technology and mining shares. The is Estoxx 50 down 1%, tech and industrials underperforming. Siemens shares dropped after the manufacturer said it sees group revenue growth and returns in its key industrial unit at the lower end of forecasts. Zurich Insurance Group AG shares fell after the company reported a rise in losses atit property and casualty arm, driven in part by “higher catastrophe losses and weather events.” Allianz SE climbed after second-quarter profit rose on stronger earnings from its life-health insurance and asset management businesses. Deliveroo Plc rallied after reporting stronger customer orders and saying earnings for the year will be on the higher end of its forecast. Entain Plc soared after the UK gambling firm got an earnings boost from this summer’s European Football Championship.
Earlier in the session, Asian equities first rose but eventually dropped, halting a two-day rally, as Japanese shares reversed an early gain after a volatile trading session. The MSCI Asia Pacific Index fell as much as 0.9%, weighed by tech shares including TSMC, Samsung and Keyence. Japan’s Topix Index declined, as technology firms tracked their US peers lower. Exporters also took a hit after the yen strengthened against the dollar. Benchmarks retreated in Taiwan, South Korea and Australia. Chinese stocks in Hong Kong and the mainland were broadly steady amid the selloff in Asia, burnishing the markets’ appeal as a foil to the ongoing global volatility while investors seek value. Sentiment in the region remained fragile in one of the most tumultuous weeks for stocks in recent memory. The Asian gauge is headed for its fourth successive week of losses as investors reassess the outlook for the US economy and the nation’s interest rate trajectory.
In FX, the Bloomberg Dollar Spot Index falls 0.2%. The Swiss franc tops G-10 peers and the Japanese yen also rises in a haven bid. The Australian dollar climbs after more hawkish rhetoric from the RBA.
In rates, Treasuries hold small gains in early US trading. Yields are richer by 1bp-2bp across the curve with inverted 2s10s around -3.5bp after closing at YTD high -2.1bp Wednesday; new 10-year is around 3.93%, lagging bunds in the sector and outperforming gilts. Supply remains in focus as auction cycle concludes with $25b 30-year bond sale and at least a couple of corporate offerings are expected to follow Wednesday’s deluge of almost $32 billion. Yesterday’s unexpectedly weak 10Y auction which tailed by 3.1bp, a notably poor result, as it drew the lowest yield in a year and spooked markets and precipitated a cross-asset selloff. The When Issued on the 30-year yield is at ~4.225% is ~17bp richer than last month’s, which tailed by 2.2bp
In commodities, oil steadied after its biggest advance in a week, with traders still glued to fluctuations in wider markets and tensions in the Middle East. Spot gold rises $13 to around $2,396/oz.
Bitcoin rises 3.7% after Ripple framed the recent SEC ruling as a win for the company.
Looking at today’s calendar, US economic data slate includes weekly initial jobless claims (8:30am) and June wholesale inventories (10am). Scheduled Fed speakers include Barkin at 3pm
Market Snapshot
- S&P 500 futures up 0.1% to 5,231
- STOXX Europe 600 down 1.1% to 490.56
- MXAP down 0.3% to 173.35
- MXAPJ down 0.4% to 544.49
- Nikkei down 0.7% to 34,831.15
- Topix down 1.1% to 2,461.70
- Hang Seng Index little changed at 16,891.83
- Shanghai Composite little changed at 2,869.90
- Sensex down 0.6% to 79,019.95
- Australia S&P/ASX 200 down 0.2% to 7,681.98
- Kospi down 0.5% to 2,556.73
- Brent Futures down 0.4% to $78.02/bbl
- Gold spot up 0.5% to $2,394.27
- US Dollar Index down 0.21% to 102.98
- German 10Y yield -3 bps at 2.24%
- Euro up 0.1% to $1.0938
Top Overnight News
- BOJ summary of opinions shows the central bank discussed further rate hikes at last month’s meeting, but officials also believe policy remains accommodative despite modest tightening measures. RTRS
- China’s regional banks are under fresh scrutiny from regulators for snapping up treasury notes amid an extended rally in Chinese government bonds that’s drawn alarm from the central bank. WSJ
- The PBOC may have more room for rate cuts if the Fed eases aggressively. Some economists say China’s surprise cut last month could now be followed by another two such moves in 2024 — easing on a scale unseen in years. BBG
- Taylor Swift has cancelled three concerts in Vienna after Austrian authorities said they had uncovered an Islamist terror plot to attack the singer-songwriter’s fans in the city this week. Austrian police arrested a 19-year-old Austrian citizen on Wednesday morning and a second individual of undisclosed age and nationality in the afternoon. FT
- Italy has doubled a flat tax on the foreign income of new residents, in a blow to rich expats seeking to flee the prospect of higher levies elsewhere in Europe. Prime Minister Giorgia Meloni’s cabinet on Wednesday approved a rise in the annual levy on overseas income for new tax residents in Italy to €200,000. FT
- US consumers are reining in spending on travel and leisure, hitting businesses including Disney theme parks, Airbnb home rentals and Hilton hotels as questions grow about the health of the economy. FT
- Major cryptocurrencies ticked upward after Ripple was ordered by a US court to pay a $125 million penalty, just a fraction of what the SEC had sought. “The SEC’s headwinds against the whole of the XRP community are gone,” Ripple CEO Brad Garlinghouse said on X. BBG
- Ukraine launched rocket and drone attacks as its forces expanded their operation inside Russia’s Kursk region, on the second day of a bold incursion that has forced Moscow to redeploy troops from the Ukrainian front. FT
- Google and Meta made a secret deal to target advertisements for Instagram to teenagers on YouTube, skirting the search company’s own rules for how minors are treated online. FT
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed after the weak handover from Wall St where the major indices fumbled early gains and finished in the red amid soft earnings and geopolitical risks. ASX 200 was dragged lower amid underperformance in the commodity-related stocks including BHP which is reportedly planning to sell Brazilian copper and gold assets it acquired in the takeover of Oz Minerals. Nikkei 225 slumped in early trade with losses of as much as 2.5% before briefly staging a full recovery. Hang Seng and Shanghai Comp. pared opening losses with the former making its way back towards the psychological 17,000 level, while the mainland also pared early losses but kept within a narrow range amid light catalysts.
Top Asian News
- BoJ Summary of Opinions from the July 30th-31st meeting stated one member said they must be mindful of upside risks to inflation and a member said a tight labour market and rise in import prices from a weak yen will likely keep inflation under upward pressure. There was also the opinion that it is appropriate to raise the interest rate given that the economy and prices are moving in line with forecasts and there is a need for vigilance to upside inflation risk. Furthermore, a member said there is no change to the fact that the BoJ is supporting the economy even upon raising rates as a nominal rate of 0.25% is very accommodative, while one member said given the environment surrounding inflation, it is good time to consider small rate hike and a member also said the BoJ should eventually raise rates to levels deemed neutral to economy, which is likely at least around 1%.
- RBA Governor Bullock said they are vigilant to inflation risks and will not hesitate to hike if needed, while she added the board considered a hike on Tuesday and current rates are still deemed to meet the inflation mandate. Bullock said core inflation is not expected to return to the 2–3% target range until the end of 2025 and based on current information, the RBA does not anticipate rates coming down quickly. Furthermore, she said the RBA does not react to individual economic numbers and if the economy declines faster than expected, the RBA would consider cutting rates but sees the need for more evidence to alternate the rate stance.
- RBI kept the Repurchase Rate unchanged at 6.50%, as expected, while it maintained the stance of remaining focused on the withdrawal of accommodation in which 4 out of 6 members voted in favour of the rate decision and policy stance. RBI Governor Das said India’s growth remains strong and inflation is broadly on a declining trajectory. Furthermore, Das said they want inflation to progressively align with the target and noted the food component of inflation remains stubborn but added that going forward, the base effect on inflation will wear out.
- Earthquake in Japan’s southern region, prelim. magnitude of 6.9 (rev. to 7.1 at 08:57BST), via NHK; Tsunami warning has been issued for Miyazaki and Kochi, then broadened to Kagoshima and Ehime
European bourses are lower across the board, Euro Stoxx 50 -1.2%, as the downbeat sentiment from Wall St. reverberated into APAC trade and continued. Macro newsflow light, earnings driving sectoral differences with Travel & Leisure underpinned by Entain numbers, Telecoms supported by Deutsche Telekom. Stateside, US futures are lower across the board but only modestly so with losses shallow than those seen in Europe, ES -0.4% & NQ -0.3%. Ahead, a handful of earnings due.
Top European News
- Turkey Keeps Year-End Inflation Outlook on Slowing Demand
- Siemens to Hit Low End of Forecasts on Slow Automation Sales
- Duerr Surges on Earnings Beat and Improved Order Intake Outlook
- Deliveroo Orders Grow as Demand Picks Up Across Markets
- Turkish Central Bank Keeps Year-End Inflation Outlook Unchanged
- Anti-Racism Protesters Give UK Respite After Days of Riots
FX
- DXY is softer intraday after mild gains on Wednesday, with a lack of specific catalysts thus far into US data and supply; holding just 103.00.
- JPY unreactive to a Japanese earthquake and tsunami; USD/JPY just above the 146.00 mark and softer on the session with overall action much more contained than that seen recently.
- EUR underpinned by the mentioned soft USD, but only modestly so with specifics light; similar story for Sterling, though Cable has slipped below the 1.2700 mark.
- Antipodeans are firmer, outperformance once again for the AUD after comments from the RBA Governor. Kiwi kept afloat despite softer inflation expectations which have increased the odds of an RBNZ cut next week.
- PBoC set USD/CNY mid-point at 7.1460 vs exp. 7.1821 (prev. 7.1386).
Fixed Income
- Fixed benchmarks bid, specific drivers light and the action overall well within recent parameters.
- Complex is essentially in a holding pattern ahead of US weekly data and then a 30yr auction which follows the soft 10yr on Wednesday.
- Bunds at the mid-point of c. 50 tick parameters with Gilts in-fitting but in even narrow ranges while USTs are inching toward Wednesday’s 113-37 best having pared the late-doors auction-driven downside.
Commodities
- Crude is subdued but holds onto the bulk of yesterday’s gains, complex is focussed on geopols as we await a Iran/Lebanon retaliatory strike against Israel with potential Hezbollah action also a point of focus.
- WTI Sep trades within a USD 74.78-75.70/bbl range while Brent Oct trades within a USD 77.80-78.70/bbl band.
- Nat Gas benchmarks began with marked gains, bolstered by reports of Ukrainian troops launching an attack on the Kursk, Russia region; however, the situation in Kursk has, according to somewhat mixed Russian reporting, seemingly stabilised a touch and has caused a pullback from best.
- Metals are mixed, precious peers supported by the geopolitical landscape but in narrow ranges while base metals are near-unchanged, though LME Copper attempting to pare some of Wednesday’s hefty pressure.
- Russia’s Gazprom is continuing shipping gas to Europe via Ukraine, Thursday’s volume at 37.3MCM (prev. 39.4MCM on Wednesday and 42.3MCM on Tuesday).
- China’s NDRC to cut the retail gasoline and diesel price by CNY 305/T and CNY 290/T respectively as of 8th August.
Geopolitics: Middle East
- Iran’s UN envoy said Tehran’s “priority is to punish the aggressors” responsible for Haniyeh’s assassination in Tehran and preventing the repetition of terrorist attacks by Israel. This follows a report that US officials said Iran may be rethinking launching a multi-pronged attack on Israel, while they do anticipate an Iranian response to the Haniyeh killing but think Tehran seems to have recalibrated and the US does not expect an imminent attack.
- Hezbollah reportedly looks increasingly like it may strike Israel independent of whatever Iran may intend to do, according to two sources familiar with the intelligence cited by CNN.
- Israeli officials think the target for Hezbollah’s response could be the IDF headquarters in the centre of Tel Aviv or the Mossad headquarters and other key intelligence bases in northern Tel Aviv, according to Axios’s Ravid.
- Israel told the US if Hezbollah harms Israeli civilians as part of its retaliation for the assassination of its top military commander, the Israel Defense Force’s response would be disproportionate, according to two officials cited by Axios.
- Saudi Deputy Foreign Minister said Haniyeh’s assassination is considered a ‘blatant violation’ of Iran’s sovereignty.
Geopolitics: Other
- Russia’s Medvedev said Russia must press on to Odesa, Kharkiv, Dnipro, Mykolaiv, Kyiv, and further, while he added that Russia will stop only when it finds it acceptable and beneficial.
- Russia’s Defence Ministry says Russia is thwarting Ukraine attempts to break through deeper into Russia’s Kursk region, according to agencies.
US Event Calendar
- 08:30: July Continuing Claims, est. 1.87m, prior 1.88m
- 08:30: Aug. Initial Jobless Claims, est. 240,000, prior 249,000
- 10:00: June Wholesale Trade Sales MoM, est. 0.3%, prior 0.4%
- 10:00: June Wholesale Inventories MoM, est. 0.2%, prior 0.2%
- 15:00: Fed’s Barkin Speaks in Fireside Chat
2B EUROPEAN REPORT
2C) ASIAN REPORT
Energy prices in focus amid the Ukrainian offensive, geopols. intensify – Newsquawk Europe Market Open
THURSDAY, AUG 08, 2024 – 01:54 AM
- APAC stocks traded mixed after the weak handover from Wall St where the major indices fumbled early gains and finished in the red amid soft earnings and geopolitical risks.
- RBI kept the Repurchase Rate unchanged at 6.50%, as expected, while it maintained the stance of remaining focused on the withdrawal of accommodation.
- Israel told the US if Hezbollah harms Israeli civilians as part of its retaliation for the assassination of its top military commander, the Israel Defense Force’s response would be disproportionate.
- A state of emergency was declared in Russia’s Kursk region amid the Ukrainian offensive; Gas prices on watch.
- European equity futures indicate a lower open with Euro Stoxx 50 futures down 0.9% after the cash market finished with gains of 2.0% on Wednesday.
- Looking ahead, highlights include US IJC, Banxico Policy Announcement, Comments from Fed’s Barkin, Supply US, Earnings from Allianz, Deutsche Telekom, Siemens, Antofagasta, Entain & Eli Lilly.
- Click for the Newsquawk Week Ahead.
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1. Subscribe to the free premarket movers reports
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US TRADE
EQUITIES
- US stocks failed to sustain opening strength and gradually retreated throughout the session to close in the red with underperformance in the small-cap Russell 2000 index and sectors ultimately closed mixed with gains seen in Utilities, Energy and Financials, while Consumer Discretionary, Materials and Tech lagged. There was a lack of major catalysts to spur risk appetite and geopolitical fears remain at the forefront of market concerns with a no-fly notice issued for Iranian airspace on Thursday morning between 01:00-04:00 UTC which was said to be due to military exercises.
- SPX -0.77% at 5,200, NDX -1.16% at 17,867, DJI -0.60% at 38,763, RUT -1.41% at 2,033.
- Click here for a detailed summary.
NOTABLE HEADLINES
- US Democratic presidential candidate Harris said she will take on corporations that engage in illegal price gouging.
APAC TRADE
EQUITIES
- APAC stocks traded mixed after the weak handover from Wall St where the major indices fumbled early gains and finished in the red amid soft earnings and geopolitical risks.
- ASX 200 was dragged lower amid underperformance in the commodity-related stocks including BHP which is reportedly planning to sell Brazilian copper and gold assets it acquired in the takeover of Oz Minerals.
- Nikkei 225 slumped in early trade with losses of as much as 2.5% before briefly staging a full recovery.
- Hang Seng and Shanghai Comp. pared opening losses with the former making its way back towards the psychological 17,000 level, while the mainland also pared early losses but kept within a narrow range amid light catalysts.
- US equity futures were indecisive amid the lack of fresh macro catalysts to spur price action.
- European equity futures indicate a lower open with Euro Stoxx 50 futures down 1.0% after the cash market finished with gains of 2.0% on Wednesday.
FX
- DXY was little changed and just about held above the 103.00 level amid a lack of drivers and a recent quiet calendar, although the attention for the dollar now turns to jobless claims data and comments from Fed’s Barkin.
- EUR/USD eked slight gains although remained contained within relatively tight parameters.
- GBP/USD was marginally positive quiet trade and attempted to return above the 1.2700 level.
- USD/JPY saw two-way price action on both sides of the 146.00 level alongside fluctuations in Japanese stocks.
- Antipodeans were firmer with comments from RBA Governor Bullock partially contributing to the gains in AUD/USD in which she noted that they are vigilant to inflation risks and will not hesitate to hike if needed, while NZD/USD was also kept afloat despite softer inflation expectations which saw money markets price an over 80% chance of a RBNZ rate cut next week.
- PBoC set USD/CNY mid-point at 7.1460 vs exp. 7.1821 (prev. 7.1386).
- BoC Minutes stated that the Governing Council see a risk that consumer spending could be significantly weaker than expected in 2025 and 2026 which could be hit by households likely to be renewing their mortgage at higher rates.
FIXED INCOME
- 10-year UST futures recouped some lost ground after yesterday’s continued bear steepening amid a slew of corporate issuances and supply, while there was a lack of fresh catalysts and the US 10-year auction was weak but had little effect on prices.
- Bund futures were marginally positive after a recent rebound off support at the 134.00 level.
- 10-year JGB futures were initially lacklustre after the BoJ Summary of Opinions noted some hawkish opinions by officials, while prices were eventually supported in the aftermath of a mixed 30yr JGB auction which attracted a higher bid-to-cover.
COMMODITIES
- Crude futures held on to its gains after advancing on the back of geopolitical risks.
- Libya’s NOC declared a force majeure in its Sharara oil field beginning August 7th.
- Spot gold was positive but with upside restricted amid a steady dollar and absence of pertinent catalysts.
- Copper futures were rangebound near multi-month lows amid the cautious risk sentiment.
CRYPTO
- Bitcoin steadily gained overnight and climbed above the USD 57,000 level.
NOTABLE ASIA-PAC HEADLINES
- BoJ Summary of Opinions from the July 30th-31st meeting stated one member said they must be mindful of upside risks to inflation and a member said a tight labour market and rise in import prices from a weak yen will likely keep inflation under upward pressure. There was also the opinion that it is appropriate to raise the interest rate given that the economy and prices are moving in line with forecasts and there is a need for vigilance to upside inflation risk. Furthermore, a member said there is no change to the fact that the BoJ is supporting the economy even upon raising rates as a nominal rate of 0.25% is very accommodative, while one member said given the environment surrounding inflation, it is good time to consider small rate hike and a member also said the BoJ should eventually raise rates to levels deemed neutral to economy, which is likely at least around 1%.
- RBA Governor Bullock said they are vigilant to inflation risks and will not hesitate to hike if needed, while she added the board considered a hike on Tuesday and current rates are still deemed to meet the inflation mandate. Bullock said core inflation is not expected to return to the 2–3% target range until the end of 2025 and based on current information, the RBA does not anticipate rates coming down quickly. Furthermore, she said the RBA does not react to individual economic numbers and if the economy declines faster than expected, the RBA would consider cutting rates but sees the need for more evidence to alternate the rate stance.
- RBI kept the Repurchase Rate unchanged at 6.50%, as expected, while it maintained the stance of remaining focused on the withdrawal of accommodation in which 4 out of 6 members voted in favour of the rate decision and policy stance. RBI Governor Das said India’s growth remains strong and inflation is broadly on a declining trajectory. Furthermore, Das said they want inflation to progressively align with the target and noted the food component of inflation remains stubborn but added that going forward, the base effect on inflation will wear out.
DATA RECAP
- New Zealand 2yr Inflation Expectations (Q3) 2.0% (Prev. 2.3%)
- New Zealand 1yr Inflation Expectations (Q3) Q1 2.4% (Prev. 2.73%)
GEOPOLITICAL
MIDDLE EAST
- Flight Radar said Egypt issued a “curious” NOTAM (no fly notice) instructing Egyptian airlines to avoid Iranian airspace between 01:00-04:00 UTC on August 8th which Flight Radar noted was curious as Egyptian carriers route around Iran already as a normal procedure. Egypt’s civil aviation ministry later confirmed it sent a notice to all Egyptian airlines to avoid flying over Iranian airspace on August 7th and 8th due to military exercises, while the UK also issued a NOTAM warning pilots against flying over Beirut, Lebanon.
- Iran’s UN envoy said Tehran’s “priority is to punish the aggressors” responsible for Haniyeh’s assassination in Tehran and preventing the repetition of terrorist attacks by Israel. This follows a report that US officials said Iran may be rethinking launching a multi-pronged attack on Israel, while they do anticipate an Iranian response to the Haniyeh killing but think Tehran seems to have recalibrated and the US does not expect an imminent attack.
- Hezbollah reportedly looks increasingly like it may strike Israel independent of whatever Iran may intend to do, according to two sources familiar with the intelligence cited by CNN.
- Israeli officials think the target for Hezbollah’s response could be the IDF headquarters in the centre of Tel Aviv or the Mossad headquarters and other key intelligence bases in northern Tel Aviv, according to Axios’s Ravid.
- Israel told the US if Hezbollah harms Israeli civilians as part of its retaliation for the assassination of its top military commander, the Israel Defense Force’s response would be disproportionate, according to two officials cited by Axios.
- White House said that they continue talks with partners and leaders in the Middle East, including Qatar and Egypt and urge a de-escalation, according to Al Jazeera. It was separately reported that hostage negotiations are stuck and that no date has been set for their resumption, according to Al Jazeera citing Israeli Broadcasting Authority sources.
- Saudi Deputy Foreign Minister said Haniyeh’s assassination is considered a ‘blatant violation’ of Iran’s sovereignty.
- Yemen’s Houthis said they targeted two US destroyers in the direction north of the Red Sea.
OTHER
- Russia’s Medvedev said Russia must press on to Odesa, Kharkiv, Dnipro, Mykolaiv, Kyiv, and further, while he added that Russia will stop only when it finds it acceptable and beneficial.
- A state of emergency was declared in Russia’s Kursk region amid the Ukrainian offensive.
EU/UK
DATA RECAP
- UK RICS House Price Balance (Jul) -19 vs. Exp. -10 (Prev. -17)
- END
2D JAPAN
BLOOMBERG….
JPMorgan Says Three Quarters of Global Carry Trades Now Unwound
- Returns have fallen around 10% since May, Says JPMorgan
- Reiterates clock is ticking for the G10 carry trade: JPM
August 7, 2024 at 10:12 PM EDT
Three-quarters of the global carry trade has now been removed, with a recent selloff erasing this year’s gains, according to JPMorgan Chase & Co.
Returns in Group-of-10, emerging market and global carry trade baskets tracked by the bank have fallen about 10% since May, quantitative strategists Antonin Delair, Meera Chandan and Kunj Padh wrote in a note to clients. The moves have wiped out the year-to-date returns and significantly cut into profits accumulated since the end of 2022.
“The spot component of the global carry basket would suggest that 75% of carry trades have been removed,” the JPMorgan team wrote, reiterating that the “clock is ticking for the G10 carry.”
The carry strategy – which involves borrowing at low rates to fund purchases in higher-yielding assets elsewhere — has been wobbling for months. Carry trades were pummeled over the past week as global market volatility jumped amid fears of rapid Federal Reserve rate cuts and after the Bank of Japan’s larger than expected rate hike.
The recent selloff has been double the usual pace in a carry drawdown, with the strategists suggesting there may be small opportunity for a rebound in August as “the central bank calendar is light for this period and volatility already started to cool off.”
However, the global carry trade strategy is “not offering an attractive risk-reward,” they emphasized. “The yield on the basket has plummeted since the highs of 2023 and is not a sufficient compensation for holding EM high betas through US elections and the risk of further repricing of low yielders if US yields fall.”
3 CHINA
CHINA/
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
ENGLAND
Brits Warned Merely ‘Retweeting’ Information About Riots Could Be A Criminal Offense
THURSDAY, AUG 08, 2024 – 03:30 AM
Authored by Paul Joseph Watson via Modernity.news,
UK authorities have warned people that merely retweeting information about the riots could lead to criminal charges.
Yes, really.
Stephen Parkinson, the Director of Public Prosecutions, told Sky News that people do not even need to personally post the content themselves to be deemed to be committing an offence.
Parkinson said social media users could be guilty of “incitement to racial hatred” if they post “insulting or abusive” content that is “likely to stir up racial hatred.”
“So if you retweet that, then you’re republishing that and then potentially you’re committing that offence,” he added, noting that dedicated police officers are “scouring social media” looking for such material.
“People might think they’re not doing anything harmful, they are, and the consequences will be visited upon them,” Parkinson warned.
Sky News clarified that “sharing online material of riots could be an offence.”
The public official also asserted separately that individuals who publish protest/riot locations, such as those outside immigration law firms, could be hit with terrorism charges.
“The fact that it’s organised groups that might be motivated by ideological reasons, the fact that they’re promoting potentially very serious offences – that’s the sort of instance where we might want to consider terrorism charges,” said Parkinson.
He even previously suggested that social media influencers who are currently located abroad like Tommy Robinson could be extradited and hit with terrorism charges in the UK on nebulous charges of inciting the riots.
As we highlighted earlier, numerous prominent people in the UK are now calling on the government to mimic Communist China by banning Twitter (X) altogether in the country to stop civil unrest.
Cambridge professor Sander van der Linden said the government could “geo-restrict access to a platform if the situation got so bad” and Twitter could also be “banned from the app store for violating policies.”
Keir Starmer proudly proclaimed the implementation of a “standing army” of riot police to deal with what he has called right-wing thugs, although the Prime Minister has failed to condemn similar violent attacks and riots by Muslim mobs.
* * *
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL/HAMAS
Israel Vows To Eliminate New Hamas Chief Sinwar, Seen As Even Closer To Tehran
WEDNESDAY, AUG 07, 2024 – 10:10 PM
Israel has vowed to “eliminate” new Hamas chief Yahya Sinwar, who just yesterday was announced as the new political leader of Hamas, replacing the slain Ismail Haniyeh, killed in Tehran by an Israeli covert assassination operation on July 31st.
Among some alernative possible options for the top leadership spot were candidates deemed ‘moderate’ by comparison, but Hamas’ choosing Sinwar is intended to send a firm message that the Gaza-based organization will “continue its path of resistance,” according to a statement.
Sinwar, who was Hamas military leader in Gaza since 2017, is considered the mastermind behind the Oct.7 terror attack on southern Israel. He is also seen as closer to Tehran compared to the late Haniyeh, who had lived in Qatar. Few outsiders have laid eyes on Sinwar in years, and it’s widely believed he’s been commanding operations from tunnels deep below Gaza throughout the war which is now in its 11th month.
Israeli Foreign Minister Israel Katz said late Tuesday that Sinwar being named to the Hamas top leadership spot is “yet another compelling reason to swiftly eliminate him and wipe this vile organization off the face of the earth.”
A statement from US Secretary of State Antony Blinken has already blamed Sinwar for lack of progress in Qatar-mediated ceasefire talks:
American and Israeli officials have accused Hamas of intransigence over the deal, and they say Mr. Sinwar has always had the power to veto any proposal, given his leadership of the group in Gaza. Antony J. Blinken, the U.S. secretary of state, said the announcement on Tuesday would reinforce that role.
The choice of Mr. Sinwar “only underscores the fact that it is really on him to decide whether to move forward with a cease-fire,” Mr. Blinken said at a news conference in Annapolis, Md., late Tuesday, shortly after the appointment was announced. “He has been and remains the primary decider when it comes to concluding a cease-fire.”
Sinwar had spent two decades in an Israeli prison – a long stint which began in 1988 for murdering four Palestinians on suspicion of collaborating with Israel.
He reportedly spent much of that time not only learning Hebrew, but closely studying Israeli culture and politics in order to ‘understand the enemy’. The NY Times writes of his background:
When he was released from Israeli prison in a prisoner swap in 2011, Mr. Sinwar said that the capture of Israeli soldiers was, after years of failed negotiations, the proven tactic for freeing Palestinians incarcerated by Israel.
“For the prisoner, capturing an Israeli soldier is the best news in the universe, because he knows that a glimmer of hope has been opened for him,” Mr. Sinwar said at the time.
During his time in prison, Sinwar tried to escape several times, and once told an Italian newspaper that “Prison builds you” as it allows a person to understand the level of sacrifice needed to achieve their goals.
/ISRAEL/USA/
AND NOT GET AMERICAN HOSTAGES FREE?
VP and presidential candidate Kamala Harris open to discuss arms embargo on Israel – report
The leaders of the movement said they want to support Harris and her vice presidential pick Tim Walz, but they want them to consider an arms embargo to immediately stop Israel’s offense in Gaza.
By JERUSALEM POST STAFFAUGUST 8, 2024 07:20Updated: AUGUST 8, 2024 08:03
Vice President and presidential candidate Kamala Harris met with two Arab Americans leading the Uncommitted National Movement, who asked her to consider an arms embargo on Israel, at a campaign stop in Michigan, the New York Times reported.
Just before her rally, Harris met with Abbas Alawieh and Layla Elabed, who, according to the report, “wanted to support her but… wanted her to consider an arms embargo.” In response, Harris indicated she was “open to it” and introduced the two community leaders to her staff.
At the rally, many people in the audience heckled Harris, chanting, “Kamala, Kamala, you can’t hide. We won’t vote for Genocide.”
In response, she said, “I am here because we believe in democracy. Everyone’s voice matters, but I am speaking.” She then added, “If you want Donald Trump to win, then say that. Otherwise, I’m speaking.”
The Uncommitted National Movement has organized tens of thousands of Michigan voters to withhold their votes for President Joe Biden in the primary over his support for Israel in the war in Gaza.
Wanting to support Harris and Walz
The leaders of the movement said they want to support Harris and her vice presidential pick, Tim Walz, but they want them to consider an arms embargo to immediately stop Israel’s offense in Gaza.
Michigan is a crucial swing state in the 2024 Presidential election with 15 electoral votes.
END
The Democratic Party’s mixed messages to Jews – editorial
The message sent with the snub of Shapiro – the target of an ugly campaign to get him off the ticket – is that if you are a Jewish and an unabashed supporter of Israel, you have no place on the part.
By JPOST EDITORIALAUGUST 8, 2024 05:56
The Democratic Party sent Jews and pro-Israel supporters mixed messages on Tuesday.
Vice President and presumptive Democratic presidential nominee Kamala Harris sent the first message – a negative one – when she tapped Minnesota Gov. Tim Walz as her running mate.
Not because she selected Walz, a working-class Democrat with a solid pro-Israel record who, as a congressman, voted consistently with Israel, and who, as governor, has taken a pro-Israel stance, including ordering flags flown at half-mast after the October 7 massacre.
Rather, it is why Harris selected him over another candidate, Pennsylvania Gov. Josh Shapiro, a committed Jew and strong defender of Israel, that is problematic.
In late July, after US President Joe Biden bowed out of the race, Harris became the candidate, and the vice presidential sweepstakes began. CNN’s political correspondent John King matter-of-factly said that Shapiro could be a liability because of his faith.
A snub of Shapiro
The risks, however, were not necessarily because Shapiro was Jewish – the radical progressives would not have protested had anti-Israel Sen. Bernie Sanders, also a Jew, been selected instead. Rather, they were because Shapiro was Jewish and unapologetically pro-Israel – a combination that will not fly with certain progressive elements inside the party, and certainly not with many Arab Americans whose votes Harris is courting.
The message sent with the snub of Shapiro – the target of an ugly campaign to get him off the ticket – is that if you are a Jewish and an unabashed supporter of Israel, you have no place on the party’s national ticket.
Only Harris will ever know why she picked Walz, whose state of Minnesota’s is already in her pocket, over Shapiro, who could have helped her win his battleground state, crucial to winning the presidency. But it is hard to shake the perception that it has to do with his being both Jewish and strongly pro-Israel – a perception that leaves a sour taste in the mouths of many American Jews and the pro-Israel community.
The party’s second message came a few hours later when St. Louis voters showed two-term Congresswoman Cori Bush the door. Representing Missouri, Bush, a member of the radical left-wing “Squad” in Congress, was one of the most anti-Israel lawmakers on the Hill. She was defeated on Tuesday by Wesley Bell, the charismatic St. Louis County prosecuting attorney strongly backed by the United Democracy Project, the super PAC affiliated with the American Israel Public Affairs Committee.
Since this district is solidly Democratic, Bell is a shoo-in to defeat his Republican opponent in November.
By itself, this result is significant for pro-Israel supporters, as Bush has been stridently anti-Israel since coming to Washington in 2020 and teaming up with other Squad members such as Minnesotan Ilhan Omar, Rashida Tlaib of Michigan, and New Yorker Jamal Bowman to consistently bash Israel.
On October 8, Bush’s response to Hamas’s massacre was to call for an end to US government support for “Israeli military occupation and apartheid.” On October 16, even before Israel’s ground invasion of Gaza began, she introduced a House resolution calling for an immediate ceasefire. She later termed Israel’s actions in Gaza an “ethnic cleansing campaign.”
All that, and more, was after October 7. Before then, she voted against a House resolution commemorating Israel’s 75th birthday, boycotted President Isaac Herzog’s speech to Congress, voted against allocating an additional $1 billion to fund the Iron Dome system, and so on.
But Bush’s defeat does not stand alone; it came a month after the defeat of Bowman, another harshly anti-Israel voice in Congress.
These twin losses for the far-left are significant because they signal that, contrary to a perception that the anti-Israel wing of the party is in the ascendancy, extreme anti-Israel positions can be politically damaging.
Bush’s defeat shows that the party is far from having fallen into the grips of the anti-Israel voices, something that provides solace, even while digesting the thought that a pro-Israel Jew right now has little chance of making it onto the Democratic Party’s national ticket.
IRAN/USA
END
ISRAEL/IRAN
OPINION
Iran’s intelligence community fearful of Mossad – opinion
The Mossad’s operational prowess has compelled the Islamic Republic to consider replacing its main pieces and reorganizing the intelligence community’s chessboard.
By ERFAN FARDAUGUST 8, 2024 01:11
Israel has not claimed responsibility for eliminating Ismail Haniyeh. Nevertheless, the Mossad’s presence continues to rattle the Islamic Republic’s intelligence community. Despite their inability to counter Mossad and Israel effectively, rumors still circulate. For the mullahs, the focus remains solely on propaganda; they boast of defeating Mossad in their delusional state, though reality paints a different picture.
If we momentarily embrace the delusions of Iran’s regime, we could appreciate the scope of what Mossad has allegedly achieved – one of the most significant counter-terrorism feats worldwide. Governed by Shi’ite mullahs, a bastion of Islamic terrorism sponsorship, Iran’s leaders have orchestrated a grand spectacle for themselves.
From this viewpoint, Mossad purportedly eliminated a pivotal figure within Tehran’s terrorist network. This occurred in a highly secured zone, fortified by the Islamic Revolutionary Guard Corps and the Ministry of Intelligence (MOIS).
Modern operations heavily rely on telecommunications technology. The day before Masoud Pezeshkian’s expected presidency, Mossad’s reputed precision strike achieved three objectives: it removed a key Hamas strategist, sowed disarray among Iranian officials, and again embarrassed Iranian intelligence.
But how do we confront these delusional mullahs with the fact that Mossad has not officially accepted responsibility?
FOR OVER half a century, SAVAK (the secret police during the shah’s era), alongside Mossad and the CIA executed numerous joint operations that significantly unnerved the Soviet Union and the KGB. History did not anticipate that, 45 years later, Tehran’s Shi’ite caliphate regime would ignore its own populace, brutally suppress protesters, and dream daily of annihilating Israel and the US.
In today’s Middle East, an irrational mullah – reminiscent of historical Islamic caliphate rulers from the Rashidun, Abbasid, Umayyad, Fatimid, Ottoman, ISIS, and beyond – has declared himself Amir al-Muminin (commander of the faithful) and the global ruler of Muslims.
His primary focus is promoting Shi’ism, fostering the Shia Crescent, and nurturing a perilous transnational terrorist network across Iraq, Syria, Lebanon, and Yemen. Under his direction, these non-state actors conglomerate under the so-called Axis of Islamic Resistance.
This malevolent coalition has ravaged four Middle Eastern capitals, with the Quds Force and the MOIS perpetrating atrocities in these locations. They even operate terrorism training camps within Iran. These malevolent forces bring nothing but destruction, darkness, and poverty wherever they go, squandering Iran’s resources in their quest to build a Shi’ite empire and confront Saudi Arabia.
For Tehran’s authorities, not even the security and stability of the Persian Gulf are priorities. They continue, under the guise of defending Shi’ites, to incite chaos, deception, infiltration, and coups from Bahrain to Morocco. It is no longer surprising that on July 31, 1987, pilgrims came armed with intentions to bomb the Kaaba – an international scandal that embarrassed Khomeini.
For example, the Islamic Republic collaborates with the Muslim Brotherhood, Qatar, and Turkey to support Hamas terrorists against Israel. Concurrently, they back the PKK terrorist organization to ensure that Turkey does not overshadow Iran’s role, or influence in this complex geopolitical game, or prevent Syria’s collapse. They also engage with the Barzani tribe to distract Turkey.
Alongside the PKK and Hezbollah, they facilitate drug trafficking, and with the Barzanis, they conduct money laundering. Moreover, they maintain collaborations with various Kurdish parties and organizations, regardless of their political stance.
Their sinister influence extends into Africa, where they recruit, establish terrorist networks, and operate from Sudan to other regions. The Islamic Republic also arms terrorist groups in Somalia, with its ties to al-Shabaab growing undeniably.
Parts of the Quds Force and the MOIS also collaborate with transnational criminal organizations in Latin America, posing a threat to the security of the northern hemisphere. Moreover, they maintain terrorist and propaganda networks within America itself. Under the watchful eyes of the CIA, the Department of Homeland Security, and FBI, agents of the Islamic Republic poison and contaminate the media, hold faculty positions in various universities, shamelessly spread falsehoods, propagate lies, speak at think tanks with financial backing, organize marches within American universities, and collaborate with assassins from covert terrorist networks, operating sleeper cells.
The world’s indifference
IT APPEARS that the world has become indifferent to being held hostage by the destructive ideology of Khomeinism. If no action is taken, the consequences will only grow increasingly perilous. Regrettably, the Democrats appear complicit in this alignment with the regime.
The global community has not taken serious action against the transnational terrorism network of the mullahs in Iran. It was the CIA that helped eliminate Osama bin Laden, killed the second-in-command of al-Qaeda in Tehran on August 7, 2020, as well as the most dangerous terrorist of the Quds Force – Qasem Soleimani, who was responsible for the deaths of hundreds of American soldiers and was a key figure in activating the Shia Crescent and the Islamic Republic’s transnational terrorism network.
While the American intelligence community has made significant efforts, it’s clear that the Mossad has been effective in both neutralizing terrorists and undermining the mullahs’ regime. The Mossad has targeted key IRGC figures when they posed threats. Over the past 45 years, the Mossad has periodically been the main force challenging Iranian Supreme Leader Ali Khamenei and his outlaw regime.
For instance, while praying over the bodies of Haniyeh and his bodyguard, Khamenei looked to the sky out of fear, as if he were anticipating a Mossad drone or an Israeli missile before it struck. Cowardly, the Middle Eastern inept and spineless dictator is distrustful and suspicious of everyone around him.
Khamenei occasionally becomes intoxicated by the crimes of the Revolutionary Guards, security organizations, and his own terrorism network, and issues orders for terrorist operations – or as they call it, Islamic jihad. When he rashly ordered missile launches toward Israel, he fled to Mashhad at night to escape the Mossad’s reach. In the real world, what value or credibility does a fatwa from such a criminal have?
In actuality, the fear of Israel and the Mossad has driven the regime’s propaganda machine to the point of delirium. The situation is so dire and absurd that even former ministers of intelligence are constructing sentences with the words CIA and Mossad.
The Mossad probably views its cat-and-mouse game with Khamenei as a form of entertainment, but as long as this dictator lives in Iran, the saga of war, blood, bombs, and terror in the Middle East persists. It is hoped that with support for “regime change” in Iran, this story will come to an end.
Just as Mossad never forgot Haniyeh’s prayer of blessing at a hotel in Turkey during the broadcast of Hamas’s brutality against Israel on October 7, 2023, it will never forget the command center of the IRGC thugs – Hossein Salami, Ali Baqeri, Amir Ali Hajizadeh, and others – who ordered the launch of supersonic cruise missiles and kamikaze drones at Israel.
Still, the Mossad’s operational prowess has compelled the Islamic Republic to consider replacing its main pieces and reorganizing the intelligence community’s chessboard with the naive notion that it might block the Mossad’s infiltration. However, the Mossad has already read the play of the game.
The writer is a counterterrorism analyst and Middle East studies researcher based in Washington, with a particular focus on Iran and ethnic conflicts in the region. His new book is The Black Shabbat, published in the US. You can follow him on X @EQfard and at erfanfard.com.
END
ISRAEL//HEZBOLLAH
Hezbollah may attack Israel on its own, regardless of Iran – report
Hezbollah may strike Israel without waiting for Iran, CNN reveals. As tensions escalate following key assassinations, the Lebanon-based group is expected to act soon, despite Iran’s hesitations.
By JERUSALEM POST STAFFAUGUST 8, 2024 03:28Updated: AUGUST 8, 2024 04:39
Hezbollah may attack Israel regardless of whether Iran will join in, according to a recent report by CNN on Wednesday.
The Lebanon-based terror group looks increasingly likely to act independently and strike Israel without waiting for Iran’s response, multiple sources familiar with the intelligence revealed. Hezbollah may launch an attack in the coming days while Iran is still deliberating its next move.
One US military official noted that Iran has made some, but not all, of the expected preparations for a major attack on Israel. However, due to Lebanon’s proximity, Hezbollah could act with little to no notice, unlike Iran.
There is a sense that Hezbollah and Iran are not entirely in sync regarding their response to the recent assassinations of Ismail Haniyeh, Hamas’ deceased political leader in Tehran, and Fuad Shukr, Hezbollah’s deceased top military commander in Lebanon.
OIC responds
In response to these developments, the Organization of Islamic Cooperation (OIC) held a meeting condemning Israel’s actions and reaffirming solidarity with the Palestinian cause. The OIC specifically condemned the assassination of Haniyeh, attributing it to Israel and labeling it a violation of international law.
Amid rising tensions, President Joe Biden and Secretary of State Antony Blinken have been engaging in numerous diplomatic discussions with Middle Eastern leaders, urging de-escalation.
ISRAEL/IRAN/HOUTHIS/MIDDLE EAST
RUSSIA/UKRAINE
Ukraine’s Sneak Attack Against Russia’s Kursk Region Might Be Its Last Hurrah
THURSDAY, AUG 08, 2024 – 02:00 AM
Authored by Andrew Korybko via substack,
Russia is fighting to fend off Ukraine’s sneak attack its Kursk Region, though conflicting reports have emerged about the location of these clashes. The Russian Defense Ministry claimed that all the fighting has taken place on the Ukrainian side of the border, while Rybar – which boasts nearly 1.2 million subscribers and functions as a think tank of sorts – said that it’s taking place inside of Russia’s borders.
Whatever the truth may be, this latest development is still immensely important.
Simply put, it might be Ukraine’s last hurrah since it represents a massive gamble to open up a new front inside of Russia’s pre-2014 borders with the intent of having its foes redeploy some of their troops to Kursk from Donbass, where they’ve continued gradually gaining ground this year. Russia had hitherto braced for yet another attack against neighboring Belgorod Region, ergo the difficult but necessary decision to impose a strict security regime there late last month, so it was taken by surprise.
Prior to that, there was serious concern that Ukraine might be preparing to launch an offensive into Belarus, which could have expanded the conflict and possibly served as a pretext for Polish involvement. Taken together in light of what just happened in Kursk Region, Ukraine’s moves in those two directions might have been meant in hindsight to “psyche-out” Russia, thus facilitating its latest attack. Unlike prior cross–border raids, this one also involves uniformed Ukrainian troops, not terrorist proxies.
Nobody took Ukraine seriously when it announced that it plans to launch another counteroffensive by sometime later this year, though what’s presently unfolding might be what its policymakers had in mind. That said, the scale isn’t anywhere near what last year’s failed counteroffensive was, and it’s not truly a counteroffensive since Russia wasn’t attacking Ukraine from Kursk. Nevertheless, it’s still the largest cross-border attack so far, and it was clearly planned for some time instead of being an impromptu raid.
These observations don’t imply that it’ll succeed, however, since the military-strategic dynamics have been trending in Russia’s favor for the entire year. After all, Ukraine is diverting limited troops and equipment from the Donbass front to the Kursk one, and this could easily backfire by creating an opening that Russia could exploit. Furthermore, they’re unlikely to hold whatever they might have captured in Kursk, thus precluding the possibility that they can “trade it back” during peace talks.
Even so, the very fact that what’s turned into a two-day-long battle at the time of this analysis’ publication could even happened in the first place shows that Ukraine still has some tricks up its sleeve, namely its continued ability to evade Russia’s surveillance, intelligence, and reconnaissance. Russia didn’t detect any notable buildup near Kursk’s border ahead of time, only Belarus’ and Belgorod’s, otherwise it would have launched preemptive strikes and imposed a security regime along the border.
That’s not to knock Russia but to draw attention to NATO’s impressive tactical capabilities in being able to successfully disguise its proxy’s sneak attack. This contributed to the growing number of civilian casualties that Russian Foreign Ministry spokeswoman Zakharova condemned as proof of Kiev’s terrorism. It might get a lot worse than even that before it gets better too if Ukraine is able to achieve a breakthrough in Kursk Region that leads to it threatening the eponymous nearby nuclear power plant.
The odds of that happening are low though according to Major General Apty Alaudinov, who’s the deputy chief of the Russian Armed Forces’ military and political department and commander of the Akhmat special forces unit according to TASS. Another point to make though is that Rybar’s earlier hyperlinked report claimed that Ukraine seized control of a gas pipeline transit station, which if true, could end up seeing that facility destroyed and thus cut off Russian gas to its Central European clients.
Kiev has an interest in punishing Hungary and Slovakia for their anti-war positions, hence why it recently sanctioned a Russian oil company that had an EU waiver to continue supplying those two, so it might accordingly want to inflict maximum damage against them by destroying the aforesaid gas facility. To be clear, Rybar’s report hasn’t been confirmed and might be untrue, but its importance and Alaudinov’s remarks about the nearby nuclear power plant rest in highlighting the huge stakes involved in Kursk.
For these reasons, it can be concluded that this was in the works for a while and is therefore likely to be Ukraine’s last hurrah, which it’s only attempting now out of desperation to receive some relief along the Donbass front where Russia continues to gain ground and might be on the brink of a breakthrough. Russia will likely soon regain its lost territory, if any has really been captured by Ukraine that is, and then make Kiev pay for this dastardly sneak attack.
RUSSIA/USA
end
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
WORLD EVENTS NOTEWORTHY
END
WORLD HEALTH ISSUES
MARK CRISPIN MILLER
DR PAUL ALEXANDER
Tim Walz, the VP pick by Kamala Harris, did not respond to the riots because he WANTED the rioters to burn the Minnesota city down, he is that leftist extreme socialist, mean spirited
he had people in COVID snitching on each other and jailing them; devastating record on education, raised taxes he promised to return to the people and never did, made Minnesota SANCTUARY state
| DR. PAUL ALEXANDERAUG 7 |
Crime under his watch soared in Minneapolis: homicides, assaults, rapes etc. No one wants to be a police officer in Minneapolis. The 2020 riots is his devastating legacy, he wanted to lecture people on equity during the riots and he wanted the rioters to gain, to steal and mug and beat law abiding people…he wanted the city to burn, pure leftist.
END
SLAY NEWS
| The latest reports from Slay News |
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| Democrat Jamie Raskin Floats Plan to Block Trump’s Election Victory to ‘Save Democracy’Rep. Jamie Raskin (D-MD) has suggested that Democrats are planning to block the certification of the 2024 election results if President Donald Trump wins.READ MORE |
| Virginia Man Faces Prison Time over Social Media Posts about Kamala Harris and OthersA man from Virginia has been arrested and now faces prison time over posts he made on social media about Vice President Kamala Harris and others.READ MORE |
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| Oprah Winfrey Network Star Arrested for MurderA rising star on the Oprah Winfrey Network has been arrested and charged with a shocking murder.READ MORE |
| Trump: Biden Will ‘Crash’ DNC and ‘Take Back the Nomination’ That Was ‘Stolen’ by Harris in a ‘Coup’President Donald Trump has suggested that Joe Biden now has deep regrets after making a “historically tragic mistake by handing over the U.S. presidency” to VP Kamala Harris.READ MORE |
| ‘Fully Vaxxed’ Doctor Dies ‘Suddenly’ of Stroke at 32A California doctor has tragically died “suddenly” after suffering a stroke at just 32 years old.READ MORE |
| Trump: ‘Dangerously Liberal Extremist’ Harris-Walz Ticket Is ‘Every American’s Nightmare’President Donald Trump’s campaign has issued a warning to the American people after VP Kamala Harris picked radical Democrat Gov. Tim Walz as her running mate for the November election.READ MORE |
| Elon Musk Files Antitrust Lawsuit against ‘Ad Cartel’ for ‘Illegal Boycott’ of X: ‘Now It Is War’Elon Musk’s X has filed a bombshell antitrust lawsuit against a shadowy left-wing anti-free speech “ad cartel” for targetting the social media platform with an “illegal” advertising boycott.READ MORE |
| MSNBC Data Guru Dooms Harris for Picking Tim Walz as Running Mate: ‘Fell off the Cliff’MSNBC’s data guru has spelled doom for the Democrats’ hopes of retaining the White House after Kamala Harris announced Minnesota Gov. Tim Walz as her running mate for the November election.READ MORE |
| Major Solar Company Files for Bankruptcy after California Slashes SubsidiesA major solar company has just filed for bankruptcy as its business model is no longer viable in America’s current climate.READ MORE |
| The latest reports from Slay News |
EVOL NEWS
| LATEST NEWS: |
NEWS ADDICTS
| Doctor Dies Suddenly of Stroke at 32 after mRNA Covid ‘Booster’A much-loved doctor has dropped dead suddenly shortly after receiving her Covid mRNA “booster” shot.READ THE FULL REPORT |
| Supreme Court Dismisses Legal Challenges on COVID-19 VaccineIn a recent development, the Supreme Court has dismissed two challenges from Children’s Health Defense, a non-profit organization that opposes vaccinations, specifically those for children.READ THE FULL REPORT |
| WEF & UN Vow to Starve Public to ‘Save the Planet’The globalist United Nations (UN) is planning to destroy the food supply to starve the general public as part of a major depopulation effort.READ THE FULL REPORT |
| Navy Forced to Settle Lawsuit with Sailors Who Refused Covid Shots under Vaccine MandateThe U.S. Navy has reached a settlement in a lawsuit over its COVID-19 vaccine mandate, providing a partial victory for sailors, including Navy SEALs, who refused the vaccine on religious grounds.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//
BANGLADESH
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS THURSDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0931 UP 0.0004
USA/ YEN 146.16 DOWN 1.18 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 BEGINS JULY 2024/Bank of Japan raises rates by .15% to 1.15..UEDA END HIKING RATES AND NOW CARRY TRADES REIGNITES//
GBP/USA 1.2698 DOWN 0.0014
USA/CAN DOLLAR: 1.3743 DOWN .0009 (CDN DOLLAR UP 9 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED UP 0.07 PTS OR 0.00%
Hang Seng CLOSED UP 13.97 PTS OR 0.08%
AUSTRALIA CLOSED DOWN 0.23%
// EUROPEAN BOURSE: ALL RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 13.97 PTS OR 0.08 %
/SHANGHAI CLOSED UP 0.07 PTS OR 0.00%
AUSTRALIA BOURSE CLOSED DOWN .23%
(Nikkei (Japan) CLOSED DOWN 258.47 PTS OR 0.74%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2412.95
silver:$27.04
USA dollar index early THURSDAY morning: 102.87 DOWN 12 BASIS POINTS FROM WEDNESDAY’s CLOSE.
THURSDAY MORNING NUMBERS ENDS
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And now your closing THURSDAY NUMBERS 1: 30 AM
Portuguese 10 year bond yield: 2.905% DOWN 0 in basis point(s) yield
JAPANESE BOND YIELD: +0.843% DOWN 4 AND 5/ 100 BASIS POINTS /JAPAN losing control of its yield curve/
SPANISH 10 YR BOND YIELD: 3.128 DOWN 0 in basis points yield
ITALIAN 10 YR BOND YIELD 3.703 UP 0 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)
GERMAN 10 YR BOND YIELD: 2.2690 DOWN 1 BASIS PTS
END
IMPORTANT CURRENCY CLOSES FOR THURSDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM
Euro/USA 1.0897 DOWN 0.0030 OR 30 basis points
USA/Japan: 147.00 UP 0.744 OR YEN IS DOWN 286 BASIS PTS
Great Britain 10 YR RATE 4.005 UP 1 BASIS POINTS //
Canadian dollar UP .0007 OR 7 BASIS pts to 1.3745
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The USA/Yuan, CNY ON SHORE CLOSED UP AT 7.1738 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1776)
TURKISH LIRA: 33.49 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.845…
Your closing 10 yr US bond yield UP 3 in basis points from WEDNESDAY at 3.992% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.055 UP 3 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.055 UP 5 BASIS PTS.
GOLD AT 11;00 AM 2418.20
SILVER AT 11;00: 27.41
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: THURSDAY CLOSING TIME 11:00 AM//
London: CLOSED DOWN 21.91 PTS OR 0.27%
German Dax : CLOSED UP 65.25 PTS OR 0.37%
Paris CAC CLOSED DOWN 18.56 PTS OR 0.26 %
Spain IBEX CLOSED DOWN 41,00 OR 0.39%
Italian MIB: CLOSED DOWN 89.79 PTS OR 0.28% PTS
WTI Oil price 75.38 12EST/
Brent Oil: 78.16 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 86.65 ROUBLE DOWN 0 AND 87/100
GERMAN 10 YR BOND YIELD; +2.2690 DOWN1 BASIS PTS.
UK 10 YR YIELD: 40035 UP 1 BASIS POINTS
CDN 10 YEAR RATE: 3.201 UP 0 BASIS PTS.
CLOSING NUMBERS: 4 PM
Euro vs USA 1.0916 DOWN 0.0011 OR 11 BASIS POINTS
British Pound: 1.2747 UP 0.0064 OR 64 basis pts
BRITISH 10 YR GILT BOND YIELD: 3.980 UP 3 BASIS PTS//
JAPAN 10 YR YIELD: 0.851
USA dollar vs Japanese Yen: 147.19 UP 0.912 YEN DOWN 91 BASIS PTS//
USA dollar vs Canadian dollar: 1.3730 DOWN 0.0022//CDN dollar UP 22 BASIS PTS
West Texas intermediate oil: 76.05
Brent OIL: 79.05
USA 10 yr bond yield UP 4 BASIS pts to 4.000
USA 30 yr bond yield UP 4 BASIS PTS to 4.290%
USA 2 YR BOND: UP 5 PTS AT 4.048
CDN 10 YR RATE 3.204 UP 2 BASIS PTS
USA dollar index: 103.03 UP 3 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 33.48 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 86.75 DOWN 0 AND 97/100 roubles
GOLD 2,424.25 3:30 PM
SILVER: 27,47 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 683.04 PTS OR 1.76%
NASDAQ UP 546.45 PTS OR 3.06 %
VOLATILITY INDEX: 2.400 DOWN 3.85 PTS OR 13.82%
GLD: $224.20 UP 3.45 OR 1.56%
SLV/ $25.01 UP 0.65 OR 2.74%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Big-Tech, Bond Yields, Bitcoin, & Bullion Bounce But Rate-Cut Hopes Fade
BY TYLER DURDEN
THURSDAY, AUG 08, 2024 – 04:00 PM
A de minimus improvement in (the incredibly noisy) initial jobless claims was all it took to enable the machines to run stocks higher, bond yields followed suit (higher) along with another ugly auctions (30Y). Crude, bitcoin, and gold also rallied (despite the dollar being basically flat).
For some context on the size of the labor market ‘surprise’ in today’s claims data… here is the macro surprise index…
Source: Bloomberg
Before we get into the color, of particular note is the fact that rate-cut expectations have now retraced all of the post-payrolls spike (with the shift still biased more into 2024 than 2025)…
Source: Bloomberg
Nasdaq was the day’s best performer (best day since Feb 2023) and the S&P’s gain was the best day since Nov 2022…
Stocks, broadly speaking, remain notably lower from payrolls still…
Of particular note, Nasdaq’s surge was very technical – ramping up to yesterday’s high and then fading back…
The Dow and S&P 500 stalled at critical technical levels too.
Dow at 50DMA…
S&P at 100DMA…
Mag7 stocks bounced to yesterday’s highs too, but remain down on the week and down from pre-payrolls…
Source: Bloomberg
VIX slid lower once again (but remains above yesterday’s lows)…
Source: Bloomberg
Finally, before we leave equities, Goldman’s trading desk notes volumes were down (-15% vs this past week) and S&P top of book (liquidity) continues to be very poor sitting around the 4mm level (YTD average closer to 13mm).
- LOs 4% better for sale (selling macro hedges, pockets of tech and semis on strength, and cons discretionary vs buying industrials, fins, and utes).
- HFs +1.4% better to buy (buying ETFs, info tech, and industrials vs selling cons discretionary, HC, and Utes)
Treasury yields surged higher once again, now back above the pre-payrolls level (for all but the 2Y yield)…
Source: Bloomberg
The 10Y yield surged up to 4.00% (and 2Y moved above it)…
Source: Bloomberg
The dollar ended very modestly lower…
Source: Bloomberg
Gold rallied back above $2400…
Source: Bloomberg
Oil prices extended their rebound today (erasing the payrolls plunge) as tensions in Ukraine and the MidEast picked up once again…
Source: Bloomberg
Bitcoin ripped higher today, touching $60,000 and erasing the Jump-Trading liquidation from Sunday night…
Source: Bloomberg
Finally, as we noted earlier, the rise in rates led to the implied odds of a US recession jumping much higher. But in the UK and Europe they are still relatively low.
Source: Bloomberg
The question is – how long can that divergence remain? Either US odds have to decline or UK and EU recession odds have to rise.
AFTERNOON TRADING/
AFTERNOON TRADING///
II USA DATA
Stocks Surge On Small Drop In Initial Jobless Claims; Continuing Claims Hits 33-Month High
THURSDAY, AUG 08, 2024 – 08:36 AM
The number of Americans filing for jobless benefits for the first time fell from 12-month highs at 249k to 233k last week…
Source: Bloomberg
The non-seasonally-adjusted claims data plunged and is basically unchanged over one and two years…
Source: Bloomberg
…as it appears the Texas storm impact is fading…
Source: Bloomberg
With Michigan and Texas dominating the drop in initial claims…
But, continuing jobless claims rose to 1.875mm Americans – the highest since Nov 2021…
Source: Bloomberg
…and smoothing for the week to week noise – the 4-week moving average of initial claims also reached a new cycle high.
One key thing to note that we warned about…
One thing to note: the unemployment rate of 4.3% was boosted 0.2% by people on temporary layoff which increased by 249,000. This is mostly due to Hurricane Beryl, so expect the unemp rate to slide back to ~4.1% next month.
·
272.6K Views
Is this bad news or good news?
Stocks seem to think ‘good’ news.
Imagine what happens next week if CPI is hotter than expected?
III USA ECONOMIC COMMENTARIES
WOW! never would believe this could happen
(zerohedge)
CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown
THURSDAY, AUG 08, 2024 – 09:20 AM
What had been obvious “to the rest of us” for years, is finally official: late last night, shares of Warner Bros. Discovery, the parent of CNN and TNT, crashed 10% to the lowest level on record after it reported dire results, which missed across the board and plunged across every income statement category…
… but the biggest hit – and surprise – was the company’s stunning $9.1 billion charge taken to write down the value of its traditional TV networks, such as CNN and TNT, which were acquired in 2022 when Warner Bros Discovery was created as part of its acquisition of WarnerMedia. The write down confirmed that legacy cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. In fact, judging by the ongoing mass layoffs at the former, one can argue that CNN’s value is now negative and will continue to be so until it stops hemorrhaging cash.
For the quarter, Warner Bros. reported a net loss of $10 billion, which included additional charges of $2.1 billion related to its merger. Revenue for the quarter fell 6.2% to $9.71 billion. Of note, the revenue collapse in the company’s Networks segment, which includes CNN, just won’t stop.
“Two years ago market valuations and prevailing conditions for legacy media companies were quite different than they are today,” CEO David Zaslav said on a call with investors on Wednesday. “This impairment acknowledges this and better aligns our carrying values with our future outlook.”
As Bloomberg notes, the writedown follows last month’s decision by the NBA to drop Warner Bros. as a broadcast partner and award a $76 billion, 11-year media rights deal to Walt Disney, Comcast and Amazon.com. Warner Bros. filed a lawsuit against the NBA last month alleging a breach of contract.
“At this point, we’ve handed it off to our lawyers,” Zaslav said on the call. “We have confidence in our position.”
More importantly, the writedown reflects the continued exodus of viewers from cable networks like roaring propaganda dumpster fire CNN to streaming, taking with them the advertising sales and subscriber fees that supply most of the revenue for conventional TV. The changes have rippled across media. Disney, which announced third-quarter results earlier Wednesday, reported declines in linear television advertising sales and subscribers, sending the stock to a ten year low and once again confirming that once you go woke… well, everyone knows what happens next.
Warner Bros. has eliminated more than 2,000 positions over the past year and slashed 100 jobs at CNN last month. The company raised subscription prices for its Max streaming service in June.
Under different management teams over the past 20 years, Warner Bros. has been involved in some of the worst and most criticized merger deals. They include the $124 billion merger of Time Warner with America Online in 2001 and the later purchase of Time Warner by AT&T Inc. for $87 billion in 2018.
Warner Bros. shares plunged as much as 9.9% to $6.95, the lowest price since the stock of the merged company began trading in April 2022, and down over 70% in the past two years.
end
what took them so long to figure this out?
zerohedge)
Nassau County Criminalizes Masks To Counter Far-Left Mask-Wearing Activists
THURSDAY, AUG 08, 2024 – 07:45 AM
Nassau County Republicans passed the “Mask Transparency Act” on Monday, making it a misdemeanor for anyone 16 and older to wear a face mask in public spaces except for health and religious reasons. This move aims to curb criminals or violent protesters who exploit mask-wearing to conceal their identities.
Nassau County Legislator Mazi Pilip proposed the Mask Transparency Act after one of her constituents was attacked by a mask-wearing protester.
“Having them covering their faces, thinking they can do whatever they want. This is absolutely unacceptable,” Pilip told NBC New York.
Nassau County Executive Bruce Blakeman shared a similar view…
“Unless someone has a medical condition or a religious imperative, people should not be allowed to cover their face in a manner that hides their identity when in public.”
Violators of the bill could be slapped with a fine of up to $1,000 and even jail time. The bill had unanimous support from all 12 Republican legislators in Nassau County.
Far-left protesters, including Antifa, Black Lives Matter, and some pro-Palestinian protesters, have favored masks to conceal their identities.
Meanwhile, criminals emboldened by failed progressive laws in New York City have had a field day with mask-wearing policies, utilizing them to their advantage. From smash-and-grabs to robberies to subway attacks, it’s widely known that criminals wear masks.
Even Democratic New York Gov. Kathy Hochul has considered banning masks in NYC over “antisemitic acts” and other crimes.
The New York Civil Liberties Union criticized the bill, calling the exceptions “wholly inadequate.”
“Nassau County police officers are neither health professionals nor religious experts capable of deciding who needs a mask and who doesn’t,” NYCLU wrote on X.
Democrats are likely going to freak about this new bill because now their ‘agents of change’ – or far-left professional protestors will actually have to show their faces or risk being arrested.
Here’s a bold move for Republican lawmakers nationwide… Replicate the Mask Transparency Act across your metro areas to stop the spread of criminals and violent protests.
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
END
NEWT GINGRICH
SWAMP NEWS
The “great Walz of China” under fire for bailing out on Iraq tour and lying about combat deployment
(zerohedge)
‘Stolen Valor’: Walz Under Fire For Bailing On Iraq Tour, Then Lying About Combat Deployment
WEDNESDAY, AUG 07, 2024 – 02:25 PM
Kamala Harris’ VP pick Tim Walz has come under fire over his extreme left-wing policies, from joking about helping illegal immigrants into the country by investing in a ‘ladder company,’ to signing a law that gives them driver’s licenses, to delaying the deployment of the National Guard during the Georger Floyd riots.
And while there’s much more to discuss, Walz has come under the most intense scrutiny for embellishing his military record, when in reality he bailed on his National Guard battalion – instead running off to Congress after learning that he would be deployed to Iraq.
“On May 16th, 2005, [Walz] quit, betraying his country, leaving the 1-125th Field Artillery Battalion and its Soldiers hanging; without its senior Non-Commissioned Officer, as the battalion prepared for war,” wrote retired Command Sergeants Major Thomas Behrends and Paul Herr in a 2018 letter posted to Facebook.
The pair further criticized Walz for abandoning the National Guard for Congress despite being fully aware that he could have requested permission from the Pentagon to seek office while on active duty.
And instead of filing the proper paperwork to ensure a smooth transition out of the military, Walz “instead … slithered out the door,” the letter reads, adding that Walz “embellished and selectively omitted facts of his military career for years.”
Trump VP pick JD Vance ripped Walz in a press conference, saying “What bothers me about Tim Walz is the stolen valor garbage. Do not pretend to be something you’re not. And if he wants to criticize me for getting an Ivy League education, I’m proud […] I was able to make something of myself and I would be ashamed if I was him and I lied about my military service like he did.” (X via @townhallcom)
What’s more, Walz lied – telling a crowd that he was in fact deployed.
“I carried weapons of war in war,” he said.
Walz insists he has an “honorable record.”
end
Tampon Tim’s days are numbered:
National Guard Disputes Walz’s Military Bio; CNN Calls Out ‘Absolutely False’ Claim Over Deployment
THURSDAY, AUG 08, 2024 – 10:00 AM
The Minnesota National Guard has disputed Governor Tim Walz’s military biography, saying that his claims of retiring at the rank of command sergeant major is untrue.
Minnesota National Guard spox Army Lieutenant Colonel Kristen Augé told Just the News that Walz, Kamala Harris’ vice presidential running mate, was demoted and did not retire as a command sergeant major as he has claimed for years – including on his official gubernatorial biography – as he failed to complete a 750-hour course in the Army’s Sergeants Major Academy, a mandatory course for E-9s, the Army’s highest enlisted rank.
While Walz temporarily held the title of command sergeant major he “retired as a master sergeant in 2005 for benefit purposes because he did not complete additional coursework at the U.S. Army Sergeants Major Academy,” Army Lt. Col. Kristen Augé, the Minnesota National Guard’s State Public Affairs Officer, told Just the News.
The statement reignited a controversy that began during his 2018 election for governor in which National Guardsman claimed on social media and in a paid ad that Walz declined to deploy to Iraq for combat duty in 2005 and forfeited his title of command sergeant major. Walz chose to run for Congress that year. -Just the News
The governor’s biography, however, says that “Command Sergeant Major Walz” retired from the Minnesota National Guard in 2005. At the time he was serving as one of the highest ranking members of the 1-125th Field Artillery Battalion.
“He retired as a master sergeant in 2005 for benefit purposes because he did not complete additional coursework at the U.S. Army Sergeants Major Academy,” said Augé.
That said, an unnamed Guard spokesperson told Task & Purpose, in direct contradiction to Augé, that Walz’s demotion was a technicality.
“Soldiers who do not finish the course revert back to their prior rank,” they told the outlet. “This is what we refer to as an administrative reduction and not punitive in nature.”
The outlet also claims that the Guard ‘confirmed’ that Walz was properly promoted and served in the E-9 role, and “retired as” an E-9, despite the later reduction.
That said, Task & Purpose also framed the entire stolen valor controversy as “The ‘Swift Boating’ of Tim Walz” – as if his on-record lies about ‘weapon of war, that I carried in war’ (he never saw war), are the same as disputed allegations over John Kerry’s (D) Vietnam war record.
On Wednesday we noted that Walz straight up lied about having been deployed in a combat zone.
The lies were so egregious that even CNN acknowledged they were less than ideal.
“Walz did make a comment speaking to a group, he’s done it a couple of times, where he has used language that has suggested that he carried weapons in a fighting situation,” said CNN correspondent Tom Foreman in a fact check. “As you know, with your contact with the military, I know from coming from a military family, there is a difference between being in a combat area, being involved at a time of war and actually being in a position where people are shooting at you. There is no evidence that at any time Governor Walz was in a position of being shot at, and some of his language could easily be seen to suggest that he was.”
“So that is absolutely false when he said that about gun rights out there. The campaign has essentially come forward to say, ‘Look, he had a long career, he would never want to purposely mislead people about this.’ It’s what campaigns tend to say,” Foreman continued.
Meanwhile, in a 2006 press release issued by his campaign, Walz is described as a “veteran of Operation Enduring Freedom,” the US military operation in Afghanistan. As modernity.news notes, some have charged that this is misleading given that Walz was stationed in Italy at the time, with his battalion providing base security in Europe.
Walz has also come under fire from the men he served with, who they described in a 2019 letter as ‘Traitorous, fraudulent and shameful.’
Meanwhile, the Free Beacon reports that Walz knew his National Guard battalion was being eyed for a likely redeployment to Iraq when he decided to retire.
“As Command Sergeant Major, I have a responsibility not only to ready my battalion for Iraq, but also to serve if called on,” Walz said in a campaign statement on March 20, 2005. Just three days prior, the National Guard Public Affairs Office announced that at least part of his battalion could be shipped overseas to the Middle East in the next two years.
Walz left the National Guard that May. Two months later, his battalion was put on notice that they would be deploying to Iraq.
When questioned about all of it, Walz decided to duck, cover, and run from a journalist before an explanation could be ‘deployed.’
END
KING REPORT
| The King Report for August 8, 2024 Issue 7301 | Independent View of the News |
| BoJ Deputy Governor Shinichi Uchida on Wednesday: “If the outlook, the upside and downside risks to the outlook, or the likelihood of realizing the outlook change as a result of these market developments, the path of the policy interest rate will certainly change. In fact, in contrast to the process of policy interest rate hikes in Europe and the United States, Japan’s economy is not in a situation where the Bank may fall behind the curve if it does not raise the policy interest rate at a certain pace. Therefore, the bank will NOT raise its policy interest rate when financial markets and capital markets are unstable.” https://www.rttnews.com/3467152/boj-won-t-hike-rates-when-markets-are-unstable-uchida-says.aspx?type=gleco BOJ Sends Dovish Signal After Rate Hike Sparked Market Meltdown – BBG Uchida notes importance of keeping policy easy for now Sees no risk of BOJ falling behind the curve on rates Yen Tanks after Dovish BOJ Signal Tempers Bets on Further Hikes – BBG El-Aarian Says BOJ Meant to Press Pause but Hit Rewind – BLC Why did the BoJ capitulate so quickly? On Monday, Japan’s largest back, MUFG, crashed as much as 21%. Other large banks fell nearly as much. Yes, Virgina; Japan’s largest banks use the yen carry trade. @Sina_21st: This is what triggered a global-scale sell-off of every major asset class. This is how unstable the system is. (BoJ rates chart) https://x.com/Sina_21st/status/1821293974914814332 Central banks’ incessant intervention in the markets and economies will foment even bigger crises. The bottom line: Central banks have been papering over massive government debt and socialistic spending for decades. They have been trying to avert the dreaded ‘debt deflation spiral.’ ESUs traded negatively until Uchida announced the BoJ capitulation. ESUs turned decisively positive near 21:30 ET and hit a peak of 5319.50 at 24:39 ET. After a sharp decline to 5280.00 at 3:23 ET, ESUs commenced a rally that took ESUs to a daily high of 5359.25 at 10:00 ET. With all the suckers in, the dump commenced. ESUs fell to 5325.25 at 10:27 ET. After a rebound to 5354.50 at 11:05 ET, ESUs commenced a tumble that eventually hit a low of 5230.50 at 14:48 ET. The last-hour manipulation pushed ESUs to 5262.75 at 15:20 ET. ESUs then rolled over and slid to 5222.50 at 15:56 ET. A terrible US 10-year auction ($42B) contributed to that afternoon ESU decline: 3.96% vs 3.929% WI; 66.2% to Indirect Bidders (foreigners), 17.9% to Primary Dealers, 16.0% to Direct Bidders @ces921: If Japan can’t raise rates off zero without breaking the system, why the heck does anyone want to own a long duration sovereign bond from any government? @charliebilello: 11% of credit card balances in the US are now 90+ days delinquent, the highest since 2012. https://x.com/charliebilello/status/1821267599142899873 @zerohedge: There goes the consumer: revolving credit tumbles $1.7BN in June, biggest drop since Covid. ($8.934B from May’s $13.946B, which was revised from $11.354B; $10B exp. For June) Positive aspects of previous session Blaming the yen carry trade for US equity weakness is now off the table. It’s now recession angst. Negative aspects of previous session Bonds got hammered again; the US 10-year auction was horrible. ESUs lost almost their rally by early afternoon and turned negative. Gasoline and oil rallied sharply. Ambiguous aspects of previous session Is another equity down leg about to begin? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5241.90 Previous session S&P 500 Index High/Low: 5330.64; 5195.54 @zerohedge (Ex-GS economist & ex-NY Fed Pres) Bill Dudley: “Many economists — including Claudia Sahm herself — argue that the Sahm rule doesn’t necessarily apply this time.” lol: socialist Sahm Rule does not apply to socialist admins Putin urges Iran to avoid civilian deaths in looming attack on Israel: report https://trib.al/yDLMeD0 (‘Do as I say, not as I do to Ukraine!’) Putin asks Iran to postpone Israel strike, offers to mediate (What does Satan fear?) https://asiatimes.com/2024/08/putin-asks-iran-to-postpone-israel-strike-offers-to-mediate/ Iran Issues Global Warning to Avoid Airspace – due to ongoing military exercises, as reported by Egypt’s Al Qahera News TV. https://www.devdiscourse.com/article/business/3045131-iran-issues-global-warning-to-avoid-airspace American Stasi: Tulsi Gabbard Confirms “Quiet Skies” Nightmare Placed on a terror watch list, the former Hawaii congresswoman and her husband were tailed by Air Marshals and bomb dogs. “Unconstitutional on every level,” she says. “And I’m not the only one.” Uncover DC said Gabbard was initially placed on the list on July 23rd, and that trios of Air Marshals first began following her on flights on July 25th… (Gabbard’s evisceration of Kamala forced Harris out of the 2020 Dem Prez Campaign) https://www.racket.news/p/american-stasi-tulsi-gabbard-confirms?r=5mz1 Ukraine launches attack into Russia, marking biggest incursion since war began The Ukrainian troops appeared to have captured a number of settlements in the border area around the village of Sudzha, advancing perhaps as much as 15 km inside Russia (Kursk region)… https://abcnews.go.com/International/ukraine-launches-attack-russia-marking-biggest-incursion-war/story @Mayhem4Markets: Some institutional desk just casually dumped over 3,000 (ESU) contracts in a massive iceberg sale after hours … These are not things you see every day. If we aggregate all the afterhours flows, there’s been about 8,856 ES_F contracts sold so far (16:20 ET). What’s the rush? Another 3,000 $ES_F contracts liquidated in a large iceberg as price continues to grind lower after hours. (16:57 ET; ESUs at 5196.75, were 5230.75 at 16:00 ET/NYSE close) Today – The rebound from the ugly Thursday through Monday morning stock market tumble appears to have run its course. Even with the dovish BoJ U-turn, ESUs, stocks, and bonds sank on Wednesday. Barring an emergency Fed rate cut, there appears to be no reason right now to be long stocks. Due to the aggressive ESU selling after the NYSE close (trapped longs or does someone know something?), US stocks should start lower on Thursday. The S&P 500 Index was soft during the final hour this week. This implies that the usual suspects are not finding organic buyers when they want to unload near the end of the session. NQUs plunged 225.75; ESUs tumbled 45.50 (from NYSE close) at19:39 ET. NQUs are +6.25 and ESUs are -5.00 at 21:16 ET. Who is manipulating NQUs? USUs are 161/32 at 20:35 ET. (Is someone once again marking up bonds to aid & abet today’s 30-year Treasury Auction?) Expected economic data: Initial Jobless Claims 240k, Continuing Claims 1.871m; June Wholesale Inventories 0.2% m/m, Sales 0.3% m/m; Richmond Fed Pres Barkin 15:00 ET S&P Index 50-day MA: 5445; 100-day MA: 5309; 150-day MA: 5191; 200-day MA: 5021 DJIA 50-day MA: 39,434; 100-day MA: 39,168; 150-day MA: 38,901; 200-day MA: 38,020 (Green is positive slope; Red is negative slope) S&P 500 Index (5199.80 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 5052.31 triggers a sell signal Weekly: Trender and MACD are negative – a close above 5602.30 triggers a buy signal Daily: Trender and MACD are negative – a close above 5487.54 triggers a buy signal Hourly: Trender is negative; MACD is positive – a close above 5310.88 triggers a buy signal Politico reports Shapiro called Harris after their meeting Sunday and withdrew from VP consideration. Why not Shapiro? … Pennsylvania Gov. JOSH SHAPIRO’s team felt that his own interview with Harris did not go as well as it could have. There was “not a great feeling” coming out of it, according to a person in touch with Shapiro’s advisers. A person familiar with the selection process told our colleagues that, after their meeting on Sunday, Shapiro called Harris’ team and made clear that he was “struggling with the decision to leave his current job as governor, in order to seek the vice presidency.” https://www.politico.com/newsletters/playbook-pm/2024/08/06/the-4-reasons-harris-picked-walz-00132333 @charliekirk11: This is clearly a cleanup operation. Democrats think they can defuse anti-Semitism concerns with a quick story about Shapiro backing out. He wasn’t nixed for being Jewish, he just nixed himself! Nobody is fooled. Democrats 100% chose Walz to appease their anti-Israel base.. Another thought: Suppose the Politico story is true, and Shapiro really did back out. In that case, the story is this: It took exactly one face to face meeting for Shapiro to realize Kamala is going to lose. @LisaMarieBoothe: Picking Walz tells me no one better wanted to hitch their wagon to Kamala Harris. Minnesota National Guard confirms VP nominee Tim Walz demoted, calling into question official bio – Gov. Walz’s biography boasts a higher National Guard rank than he retired with after he was automatically demoted for failing to fulfill obligations of his promotion. He also bailed out on his unit before deployment in Iraq… https://justthenews.com/politics-policy/past-criticisms-vp-nominee-tim-walzs-retirement-military-resurface @TrumpWarRoom: CNN: It’s “ABSOLUTELY FALSE” that Tim Walz ever “carried” weapons on the battlefield — an outrageous lie he has repeatedly told. Walz abandoned his National Guard battalion just before they were deployed to Iraq. https://x.com/TrumpWarRoom/status/1821254504399982873 @CraigCaplan: Then-Rep. Tim Walz (D-MN) on his military service in 2007 @cspanwj interview: “I spent 24 years in the National Guard, some of that full-time. I was an artilleryman. I deployed in support of Operation Enduring Freedom.” https://c-span.org/video/?c512754 @gregkellyusa: WALZ just broke Federal Law: In boasting about a going to a War he actually SKIPPED, Timmy Walz is in violation of The Stolen Valor Act of 2013. Penalty: ONE YEAR in Jail. https://x.com/gregkellyusa/status/1821303050503409804 @seanmdav: It looks like Tim Walz may also have used stolen valor claims to falsely receive retirement pay he wasn’t entitled to. @ashleyhayek: He falsely filed paperwork with the Minnesota National Guard to retire as an E-9, a Command Sergeant Major, knowing full well he did not meet the obligations to retire as an E-9. https://x.com/ashleyhayek/status/1821311858617258151 @DC_Draino: Tim Walz is now getting called out by Army Special Forces for wearing their crest on a camo hat when he was never in SF and even abandoned the Army before his Iraq deployment… https://x.com/DC_Draino/status/1821265788034298002 NBC: “No one really disputes” that Walz abandoned his National Guard battalion before they deployed to Iraq — while the Harris campaign is excusing Walz’s claim that he “carried” weapons “in war” because he was “trained” with them despite “having never used them in combat.“ https://x.com/RNCResearch/status/1821302427712417897 @JackPosobiec: Team Kamala was informed of the Stolen Valor letter about Walz a week and a half ago. It was brushed off, per WH contact. Lot of ‘told you so’s’ from Team Biden going around. Trump ‘thrilled’ with Harris tapping ‘very liberal’ Tim Walz as running mate: ‘Shocking pick’ Trump then recalled one of the “only” times he had interacted with him, explaining how Walz reached out to him for help during the pandemic because his house was surrounded by anti-lockdown protesters. “They only had one guard, I guess it was at the mansion or his house in some form,” he said. “And he called me and I said, ‘What do you want me to do about it?’ I was in the White House. He said, ‘If you would put out the word that I’m a good person, and I did, I put out the word I said, ‘He’s a good person. I hope everything’s good.’ And everybody put down their flags and took their flags with them.” “But they took the American flags and their MAGA flags and they left it. It was thousands of people,” he continued. “There’s never been a ticket like this,” he continued. “This is a ticket that would want this country to go communist immediately, if not sooner. We want no security. We want no anything. He’s very heavy into transgender. Anything transgender he thinks is great, and he’s not where the country is on anything.” https://www.foxnews.com/media/trump-thrilled-harris-tapping-very-liberal-tim-walz-running-mate-shocking-pick @WesternLensman: A month ago, after meeting with a cognitively compromised Biden, Tim Walz marched out to the microphones to lie and coverup Biden’s mental unfitness. “He’s fit for office.” ‘Joe from Scranton’ is still the guy to beat Trump… A good little DNC soldier who was rewarded for his lies. https://t.co/nTx4hjpgpN @AndrewHClark: How radical is Walz’ law making a child’s “gender identity” and sex change surgery a factor for judges in child custody cases? Gavin Newsom vetoed a similar bill last year. https://t.co/QjZGWA9tE4 @nicksortor: WOW: Tim Walz says you have NO RIGHT TO FREE SPEECH if the government deems it “misinformation.” This guy’s a full-blown communist! https://x.com/nicksortor/status/1821216057702355146 Tim Walz’s ties to Communist China demand attention Put simply, the Chinese communists aren’t running a holiday charity for American tourists. For those communists, nothing comes without a quid pro quo. It’s certain that Walz was vetted by the Ministry of State Security, the regime’s powerful secret police, because that’s how China works. No American would be allowed to run academic exchanges for a couple of decades, on the CCP’s dime, without MSS approval. It just wouldn’t happen… https://www.washingtonexaminer.com/restoring-america/fairness-justice/3112901/tim-walzs-ties-to-communist-china-demand-attention/ @mirandadevine: Oh, and Walz chose June 4 as his wedding date to commemorate the bloody anniversary of China’s brutal crackdown on democracy protesters in China’s Tiananmen Square. “He wanted to have a date he’ll always remember,” said his wife. That’s weird. @GrageDustin: Governor Tim Walz redefined “sexual orientation” to include pedophiles. Walz did so by signing law that removed @HarryNiska’s amendment to excluded “physical or sexual attachment to children by an adult” from the state human rights law. Here is Rep. Niska’s floor speech: https://x.com/GrageDustin/status/1821165215876100326 @paulsperry_: Gov. Tim Walz’s radical wife has a policy role in his admin and is therefore fair game. Gwen operates her own office down hall from his in capitol and runs task forces w/ own staff incl chief of staff, deputy chief, comms dir. The Walzes are a package deal, just like the Clintons. Tim Walz’s Dept. of Education Let Somali Migrant Fraudsters Steal $250 Million from Needy Kids In September 2022, the Justice Department charged 47 Somali immigrants in Minnesota with stealing $250 million from a coronavirus relief program meant to feed needy children. Only $50 million has been recovered as of June… https://www.breitbart.com/2024-election/2024/08/06/tim-walzs-dept-of-education-let-somali-migrant-fraudsters-steal-250-million-from-needy-kids/ Tim Walz Cozied Up to Anti-Semitic Terror Defender at 2019 CAIR Event, Photos Show Photos… show Walz posed with Hatem Bazian, an anti-Semitic scholar who has for years defended anti-Israel terrorist activity. Bazian is the founder of Students for Justice in Palestine, the group behind many of the pro-Hamas and anti-Semitic rallies across college campuses in the wake of the Oct. 7 attacks… https://freebeacon.com/elections/tim-walz-cozied-up-to-anti-semitic-terror-defender-at-2019-cair-event-photos-show/ @TheBabylonBee: Tim Walz Backs Out of VP Nomination After Learning VPs Sometimes Have to Deploy to Dangerous Places Overseas @Cernovich: There’s still way more oppo about Tim Walz. This is all a warmup. Wait until you find out the rest. Truly disgusting stuff. @seanmdav: Walz is such a horrific pick for VP that I will be genuinely surprised if he makes it to Friday. And if that’s the case, Harris might not make it to the convention. This will be the most incompetent and most left-wing ticket in American history. Social media is teeming with allegations that big-money Dem donors are livid with the Walz pick and threatening to withhold further donations. The Dem Convention in Chicago on August 19-22 got be fun. @WendellHusebo: JD Vance approaches Kamala Harris’s plane in WI: “Hopefully it’s going to be my plane in a few months. I also thought you guys may get lonely, bc the VP doesn’t answer q’s from reporters…” Vance tells reporters. https://x.com/WendellHusebo/status/1821248429357723687 @bennyjohnson: Kamala is so terrified of facing reporters she has resorted to using Girl Scouts as human shields from press. https://x.com/bennyjohnson/status/1821260667489538122 @RNCResearch: REPORTER: Your response to allegation of stolen valor? WALZ: *ignores* REPORTER: Your response to allegation of stolen valor!? WALZ: *runs away* https://x.com/RNCResearch/status/1821261735350673649 @bonchieredstate: Bloomberg has now stealth-edited the claim that Tim Walz served in Iraq. The claim was originally made by the same reporter (Joshua Green) in 2004 while doing a profile of Walz. The press are literally scrubbing the records to try to stop this scandal. They won’t succeed. https://x.com/bonchieredstate/status/1821262392313180516 Once again, Kamala Harris had entertainment (Popular local singer Bon Iver) at a rally (Eau Claire, WI) to attract a respectable crowd. @TrumpWarRoom: KAMALA: “This election is about a question that we each face. We each face a question in this election.” https://x.com/TrumpWarRoom/status/1821273780846784918 @RNCResearch: Kamala is currently reading the same exact speech she has given again and again and again. She’s unable to speak without a script — which is why she hasn’t done a press conference or interview since she was installed as the nominee. https://x.com/RNCResearch/status/1820945096604332472 UPDATE NO. 2: Kamala is reading the same exact speech in Michigan — for the second time today @kylenabecker: “The courts are gonna handle dat. We gon’ beat him in November. We gon’ beat him in Novemba!” I regret to inform you Kamala Harris has changed her accent AGAIN (for Detroit group). https://x.com/kylenabecker/status/1821345151555354998 @charliekirk11: J.D. VANCE: “And I want to just point this out before we let the media ask me some questions. And I think it’s really disgraceful … To have a person who’s been the presumptive nominee of the Democrat Party for 17 days and refuses to take a single question from the American media… President Trump and I will… answer any question because we respect the American people enough to actually ask them for their vote, rather than sit in front of a teleprompter, read scripted lines, and run away from every reporter and every actual citizen who’s going to decide this election. I think it’s a scandal, and I think the vice president should be ashamed of herself.” https://x.com/charliekirk11/status/1821256731185545480 Pennsylvania Senator John Fetterman (Dem) predicts that Trump will win Pennsylvania. Georgia election board seeks new investigation into Fulton County’s handling of 2020 election The election board approved the new resolution in a 3-2 vote. The resolution states that if Georgia Attorney General Chris Carr does not conduct an investigation, the board will try to find an outside lawyer to conduct the inquiry… Fulton County said it has implemented multiple changes since the 2020 election… (Why were changes implemented if there was no voter fraud?) https://justthenews.com/nation/states/georgia-election-board-seeks-new-investigation-fulton-countys-handling-2020-election Georgia audit documents expose significant election failures in state’s largest county Records suggest more than 100 batches of absentee ballots in Fulton County could be missing. Some experts see “election tabulation malpractice” as state officials seek to remove county’s top election supervisors… https://justthenews.com/politics-policy/elections/georgia-audit-documents-show-unsecured-missing-ballot-batches-ballots @kylenabecker: Remember way back THREE WEEKS AGO when a sniper tried to kill the leading presidential candidate? And we never found out the shooter’s motivation for why he did it? Then the media stopped reporting on it, because it’s Donald Trump? What ever happened to that story? | |
GREG HUNTER
SEE YOU ON FRIDAY
harveyorganblog.com 
Tim Walz, the VP pick by Kamala Harris, did not respond to the riots because he WANTED the rioters to burn the Minnesota city down, he is that leftist extreme socialist, mean spirited
Harvey: The above is more Dr. PA HORSE SHIT, you have published.
Do you want intelligent people to value you site as a reliable source of real info?, I guess not..
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