AUGUST 12/PRECIOUS METALS HAD A STELLAR DAY:GOLD UP $30.00 TO $2464.10//SILVER WAS UP $.37 TO $27.89//PLATINUM WAS UP $17.35 TO $943.35 WHILE PALLADIUM WAS UP $12.35//GOLD COMMENTARIES TONIGHT FORM MIKE MAHARRAY AND PETER SCHIFF//ISRAEL VS HAMAS AND IRAN UPDATES//COVID UPDATES/RUSSIA VS UKRAINE ET AL UPDATES//COVID INJURY REPORTS/DR PAUL ALEXANDER/SLAY NEWS ETC//MUST READ COMMENTARY TONIGHT FORM MISH SHEDLOCK/SWAMP STORIES FOR YOU TONIGHT//
072 C GOLDMAN 4 190 H BMO CAPITAL 2 661 C JP MORGAN 2 661 H JP MORGAN 1 732 C RBC CAP MARKETS 1
TOTAL: 5 5 MONTH TO DATE: 17,181
JPMorgan stopped 3.5
GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 5 NOTICES FOR 500 OZ or 0.0155 TONNES
total notices so far: 17,181 contracts for 1,718,100 Oz (53.440 tonnes)
FOR AUGUST:
SILVER NOTICES: 2 NOTICE(S) FILED FOR 10,000
OZ/
total number of notices filed so far this month : 702 for 3,510,000 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 $30.00 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:
/ /INVENTORY RESTS AT 846.91 TONNES
INVENTORY RESTS AT 846.91 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER UP $0.37 AT THE SLV
NO CHANGES IN SILVER INVENTORY AT 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 ROSE BY A SMALL SIZED 71 CONTRACTS TO 146,077 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS SMALL SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH SMALL LIQUIDATION OF OI FROM OUR SPREADERS/TAS WITH OUR TINY LOSS OF $0.03 IN SILVER PRICING AT THE COMEX ON FRIDAY’S TRADING. SOME OF OUR OILIQUIDATION ACCOMPANIED OUR SMALL GAIN OF 146 CONTRACTS ON OUR TWO EXCHANGES AS WE HAD SMALL LIQUIDATION OF T.A.S. CONTRACTS DURING FRIDAY’S TRADING//. WE HAD SOME COVERING BY OUR SPECS DESPITE THE TINY LOSS IN PRICE AS WE HAD A SMALL 75 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUMONGOUS 5261 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED 146 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE TINY 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.
CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE. THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS: 1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 5261 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 $0.03) BUT WERE UNSUCCESSFUL IN KNOCKING A ANY SILVER LONGS FROM THEIR PERCH AS WE HAD A SMALL SIZED GAIN OF 146 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A SMALL 75 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 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 4.065 MILLION OZ
//NEW STANDING FOR SILVER//AUGUST IS THUS 4.065 MILLION OZ
WE HAD:
/ SMALL SIZED COMEX OI GAIN //SMALL SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 5261 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 134 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 8 DAYS, total 10,490 contracts: OR 52.450 MILLION OZ (1311 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 52.450 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; 52.450 MILLION OZ//THIS MONTH WILL PROBABLY BE A VERY STRONG FOR ISSUANCE.
RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 71 CONTRACTS DESPITE OUR TINY LOSS IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 75 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 5,000 OZ QUEUE JUMP
//NEW TOTAL STANDING FOR JULY 4.065 MILLION OZ
WE HAVE A SMALL SIZED GAIN OF 146 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GIGANTIC SIZED 5261 CONTRACTS,//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE FRIDAY COMEX TRADING WHICH ACCOUNTS FOR THE MAJOR PORTION OF THE COMEX OI LOSS//// SOME SHORT COVERING FROM OUR SPEC SHORTS AND LITTLE IF ANY LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.
THE NEW TAS ISSUANCE FRIDAY NIGHT (5261) 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 ROSE BY A STRONG SIZED 2476 OI CONTRACTS TO 482,596 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 2124 CONTRACTS
WE HAD A FAIR SIZED INCREASE IN COMEX OI (2476 CONTRACTS) OCCURRED WITH OUR GAIN OF $10.50 IN PRICE/FRIDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 65.55 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 17,900 OZ QUEUE JUMP AS FINALLY GUYS ARE STANDING FOR GOLD AT THE COMEX
NEW STANDING REDUCES TO 65.953 TONNES
/ ALL OF THIS HAPPENED WITH OUR $10.50 GAIN IN PRICE WITH RESPECT TO FRIDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 3018 OI CONTRACTS (9.387 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 FAIR SIZED 2412 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 482,596
IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 3018 CONTRACTS WITH 2476 CONTRACTS INCREASED AT THE COMEX// AND A SMALL SIZED 542 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 3018 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD 2412 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (542 CONTRACTS) ACCOMPANYING THE STRONG SIZED GAIN IN COMEX OI OF 2476 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 3018 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 17,900 OZ QUEUE JUMP AS THESE BOYS JUMP THE QUEUE TO STAND AT THE COMEX./
//NEW STANDING ADVANCES TO: /AUGUST 65.953 TONNES.
/ 3) SOME T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) STRONG SIZED COMEX OPEN INTEREST GAIN 5) SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S. ISSUANCE: 2412 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: 42,648 CONTRACTS OF 4,264,800 OZ OR 132.65 TONNES IN 8 TRADING DAY(S) AND THUS AVERAGING: 5331 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAY(S) IN TONNES 132.65 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 132.65 DIVIDED BY 3550 x 100% TONNES = 3.74% OF GLOBAL ANNUAL PRODUCTION
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: 132.65 TONNES//THIS MONTH WILL NO DOUBT BE A HUGE ISSUANCE OF EFP’S SIMILAR TO SILVER.
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF AUGUST. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (AUG), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A SMALL SIZED 71 CONTRACTS OI TO 146,077 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 75 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
SEPT 75 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 75 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI GAIN OF 71 CONTRACTS AND ADD TO THE 75 E.FP. ISSUED
WE OBTAIN A SMALL SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 146 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 0.730 MILLION OZ OCCURRED DESPITE OUR $.03 LOSS IN PRICE
c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens
ii a) Chris Powell of GATA provides to us very important physical commentaries
b. Other gold/silver commentaries
c. Commodity commentaries//
d)/CRYPTOCURRENCIES/BITCOIN ETC
2.ASIAN AFFAIRS//
MONDAY MORNING/SUNDAY NIGHT
SHANGHAI CLOSED DOWN 3.99 PTS OR 0.14% //Hang Seng CLOSED UP 21.42 PTS OR 0.13% // Nikkei CLOSED UP 193.85 OR 0.56%//Australia’s all ordinaries CLOSED UP 0.47%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1790 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1812/ Oil UP TO 77.65 dollars per barrel for WTI and BRENT UP AT 80.39 Stocks in Europe OPENED ALL MOSTLY GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
GOLD
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 2476 CONTRACTS TO 482,596 WITH OUR GAIN IN PRICE OF $10.50 WITH RESPECT TO FRIDAY’S TRADING. WE LOST A FEW SPREADER/T.A.S. CONTRACTS AS SHORTS CONTINUED TO PANIC THROUGHOUT THE SESSION AND COVERED AT MUCH HIGHER PRICES. THE FED IS THE MAJOR SHORT OF AROUND 116 TONNES+ OF GOLD OWING TO THE B.I.S. THE FED NEEDS TO COVER AS THEY ARE VERY WORRIED ABOUT WHAT IS GOING TO HAPPEN TO GOLD PRICES ONCE THE BRICS BEGIN THEIR INITIATIVE AND ABANDON THE US DOLLAR. THIS IS SCHEDULED TO HAPPEN LATE SEPT 2024.
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. 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 FRIDAY’S 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 FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A FAIR SIZED 2412 EFP CONTRACTS WERE ISSUED: : OCT/DEC2412 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 2412 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 3018 CONTRACTS IN THAT 542 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED GAIN OF 2476 COMEX CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $10.50/FRIDAY COMEX. 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 FRIDAY NIGHT A GOOD SIZED 2412 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 FRIDAY’S TRADING.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: AUGUST (65.953 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
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: 66.276TONNES (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 65.953 TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $10.50 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A FAIR SIZED T.A.S. LIQUIDATION FRIDAY/COMEX
WE HAVE GAINED A TOTAL OI OF 9.387 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 HUGE 17,900 OZ QUEUE JUMP //NEW STANDING: 65.953 TONNES.
NEW STANDING FOR AUGUST: 65.3405 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $10.50
WE HAVE REMOVED 2124 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 3018 CONTRACTS OR 301800 OZ (9.387
Total monthly oz gold served (contracts) so far this month
17,181 notices 1,718,100 oz 53.440TONNES
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: 2
i) Out of Loomis: 482.265 oz 15 kilobars :Loomis
ii) Out of HSBC 21,234.716 oz
TOTAL WITHDRAWALS 21,716.981 oz
adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST
For the front month of AUGUST we have an oi of 4028 contracts having GAINED 140 contracts.
We had 57 contracts served on FRIDAY so we gained an additional 197 contracts or 17900 oz will stand for gold at the comex
SEPT. GAINED 221 CONTRACTS TO STAND AT 5603 CONTRACTS.
OCTOBER LOST 126 CONTRACTS UP TO 50,783 CONTRACTS
We had 5 contracts filed for today representing 500 oz
This is a major assault on the comex for gold and this time it is physical that will be requested.
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices were issued from their client or customer account. The total of all issuance by all participants equate to 5 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 3 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 (17,181) x 100 oz ) to which we add the difference between the open interest for the front month of August 4028( CONTRACTS) minus the number of notices served upon today (5 x 100 oz per contract( equals 2,170,400 OZ OR 65.953 TONNES.
thus the INITIAL standings for gold for the AUGUST contract month: No of notices filed so far (17181 x 100 oz +we add the difference for front month of AUGUST (4028 X// , OI} minus the number of notices served upon today (5) x 100 oz which equals 2,170,400 oz (65.953 TONNES)
TOTAL COMEX GOLD STANDING FOR AUGUST: 65.3953 TONNES WHICH IS HUGE FOR THIS VERY ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,702,698.244 OZ
TOTAL REGISTERED GOLD 7954,358.878 ( 247.41 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,748,379,366 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,233,002 oz (REG GOLD- PLEDGED GOLD)= 195.99 tonnes //
END
SILVER/COMEX
AUGUST 12/2024
INITIAL
//2024// THE AUG 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
291,811.030 OZ
Brinks CNT Loomis
.
Deposits to the Dealer Inventory
Deposits to the Customer Inventory
190,044.200 oz Delaware 643,135,490 oz Loomis 579,218.680 oz Manfra
total 1,223,398.296 oz
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)
702 Contracts (3.51000 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 3 customer deposits:
i)Into Delaware 10,044.200 oz
ii) Into Loomis: 634,135.490 oz
iii) Into Manfra 579,218.680
total customer deposit 1,223,398.290 oz
JPMorgan has a total silver weight: 134.771million oz/303.339million or 44.64%
adjustment:0
withdrawals: 3
i) Out of Brinks 51,773.920 oz
ii) Out of CNT 139,793.63 oz
iii) Out lfo Loomis; 100,244.480 oz
total customer withdrawals:291,871.030 oz
TOTAL REGISTERED SILVER: 69.585 MILLION OZ//.TOTAL REG + ELIGIBLE. 303.339 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 17 CONTRACT(S).
WE HAD 18 NOTICES SERVED ON FRIDAY, SO WE GAINED 1 CONTRACT OR AN ADDITIONAL 5,000 OZ WILL STAND FOR SILVER AT THE COMEX.
SEPT SAW A LOSS OF 5550 CONTRACTS TO 76,783. SEPT NOW BECOMES THE NEW FRONT MONTH
OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 36 CONTRACTS AND THUS WE HAVE 230 OPEN INTEREST CONTRACTS FOR OCTOBER.
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 2 for 10,000 oz
CONFIRMED volume; ON THURSDAY 81,054 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 702 x 5,000 oz = 3.510 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: 702 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 4.065 MILLION OZ.
New total standing: 4.065 million oz.
There are 69.585 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 12 WITH GOLD UP $30.00 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: ////INVENTORY RESTS AT 846.91 TONNES
AUGUST 9 WITH GOLD UP $10.50 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.87 TONNES OF GOLD INTO THE GLD////INVENTORY RESTS AT 846.91 TONNES
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: 846.91 TONNES, TONIGHTS TOTAL
SILVER
AUGUST 12//WITH SILVER UP $.37//NO CHANGES IN SILVER INVENTORY:///./// /INVENTORY AT 465.743 MILLION OZ
AUGUST 9//WITH SILVER DOWN $.03//NO CHANGES IN SILVER INVENTORY:///./// /INVENTORY AT 465.743 MILLION OZ
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//NO 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
Central Bank Gold Buying Through First Half Of 2024 Sets Record
Despite central bank gold buying slowing moderately in the second quarter, it set a record through the first half of 2024.
Central banks globally added a net 483 tons of gold through the first six months of the year, 5 percent above the record of 460 tons in H1 2023.
In the second quarter, central bank gold demand totaled 183 tons, according to the latest data compiled by the World Gold Council. That was up 6 percent year-on-year, but about 39 percent lower than the Q1 buying pace.
With gold at or near record price levels in most currencies, it’s unsurprising that central bank buying slowed in the second quarter.
China primarily drove the Q2 slowdown in central bank demand. The People’s Bank of China reported no additions to its gold reserves in May or June and only officially added 2 tons in April.
Prior to the pause in May, China had increased its gold holding for 18 straight months.
Many analysts believed the Chinese paused officially adding gold to their reserves in an effort to push gold prices lower.
Even with the pause, China still added nearly 30 tons of gold to its reserves through the first half of 2024.
Turkey was the biggest buyer through the first half of the year, adding 45 tons to its gold hoard. The bulk of its buying was in Q1, with the pace slowing to 15 tons in the second quarter.
The Turkish central bank has bought gold for 12 straight months after liquidating 160 tons of gold in the spring of 2023.
India ranks as the second-biggest gold buyer through the first half of the year. The Reserve Bank of India has added gold to its reserves every month this year totaling 37 tons.
In 2022, the Indian central bank added 33 tons of gold to its reserves followed by a 16-ton increase last year.
The Reserve Bank of India has been buying gold since 2017. Over that period, the RBI has increased its gold holding by over 260 tons.
An Indian economist told the Times of India that the push to accumulate gold was based on both political and economic reasons. He said that the “reliability” of the U.S. dollar has “diminished.” He noted the “noticeable decline” in the confidence in U.S. dollar assets.
Another economist told the Times, “It makes a lot of sense (to invest in gold), given the increased volatility in the FX market, elevated interest rates in the U.S., and, of course, also as the central banks in each economy would like to diversify the asset classes in which they are parking their reserves.”
Poland was the biggest gold buyer in the second quarter, increasing its holding by 19 tons. The country currently holds about 13 percent of its reserves in gold. At a news conference in early June, National Bank of Poland Governor Adam Glapiński reiterated his plan to increase gold’s share of total reserves to 20 percent.
Poland was the second-biggest gold buyer in 2023. The Polish central bank bought 130 tons of gold last year, increasing its holdings by 57 percent, to 359 tons.
In 2021, Glapiński announced a plan to expand the country’s gold reserves by 100 tons. The central bank reached that goal in September of ’23 and kept buying.
When he announced the plan to expand its gold reserves, Glapiński said holding gold was a matter of financial security and stability.
“Gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electronic accounting records. Of course, we do not assume that this will happen. But as the saying goes – forewarned is always insured.
And the central bank is required to be prepared for even the most unfavorable circumstances. That is why we see a special place for gold in our foreign exchange management process.”
Other notable buyers in the second quarter included:
Uzbekistan – 7 tons
Czech Republic – 6 tons
Qatar – 4 tons
Singapore – 4 tons
Russia – 3 tons
Iraq – 3 tons
Jordan – 1 ton
Kyrgyz Republic – 1 ton
Notably, Singapore had been a consistent buyer this year before selling 12 tons of gold in June.
Uzbekistan has also been a frequent seller this year, turning back to buying in May. It is not uncommon for banks that buy from domestic production – such as Uzbekistan and Kazakhstan – to switch between buying and selling.
The Philippines has been the biggest seller through the first half of the year, decreasing its gold reserves by about 25 tons. Thailand was another notable seller, decreasing its holdings by just under 10 tons.
Despite the modest colling of central bank gold demand in Q2, there is no indication that they are souring on the yellow metal. According to the most recent World Gold Council survey, 29 percent of central banks plan to add more gold to their reserves in the next 12 months. The WGC said it was the highest level since the survey began in 2018.
Only 3 percent said they had plans to decrease gold reserves.
Earlier this year, the World Gold Council said the continuation of gold buying supports its expectation that “2024 will be another solid year of central bank gold demand.”
“Last year central banks placed great emphasis on gold’s value in crisis response, diversification attributes, and store-of-value credentials. A few months into 2024 the world seems no less uncertain meaning those reasons for owning gold are as relevant as ever.”
According to the World Gold Council, central banks net gold purchases totaled 1,037 tons in 2023. It was the second straight year central banks added more than 1,000 tons to their total reserves.
Central bank gold buying in 2023 built on the prior record year. Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.
According to these analysts, “Depleted trust in the U.S. fixed-income assets and the rise of non-reserve currencies are other themes that could support central bank gold buying.”
END
The UK’s Ploy To Pull Their Gold From The Wastebasket
While the topic of conservation has grown in prominence over the past few decades, it sometimes takes forms that would not be commonly thought of as “conservation.” The British Government has melded a desire for conservation with the love of mammon, using recent scientific breakthroughs. Gold will be lost at a much slower rate, as its largest industrial use will no longer mean sure destruction for the precious metal. A plant has opened up where modern prospectors will hunt for gold in used electronics using a targeted chemical process.
A small town in South Wales, with a beautiful name that rolls off the tongue, “Llantrisant” will serve as home to the ingenious factory. The factory has enough capacity to process over 4000 tons of circuit boards each year. They source the circuit boards from another processing plant that takes in e-waste from across the British Isles. A Canadian process is used by the Mint to extract gold from these circuit boards. It is a low energy process that occurs at room temperature, meaning it can be performed without special facilities. The circuit boards enter the facility, and the parts containing gold are deftly separated from the rest of the disposable circuit boards. The parts containing gold are then brought to a chemical plant within the facility, where they are bathed in a solution that leeches out the gold from the e-waste chunks. The solution is then dried in a furnace to be reduced to pure gold. Traditional smelting techniques or toxic chemical processes are no longer necessary with this new one-size-fits-all all gold extraction process.
The Canadian firm Excir originally created the patented chemical technology, and have made this process available to mints and private companies across the world. This technology has made conservation an ever present possibility in a world full of electronic devices. Not only does this technology ease the strain on gold miners, it is also quite lucrative. According to BBC News, “Four thousand tonnes of e-waste should generate up to 450kg of gold, which is worth about £27m at current prices. Small businesses and government agencies around the world could take advantage of the Gold found through this process to either resale or find creative uses for Gold. This process links gold directly to the life of modern communities in a fundamentally yet extremely everyday way.
The high profit margins of this processing could pave a way for a new era of trash disposal. The facilities surrounding one of these gold extractors could be set up to efficiently extract far more resources from other trash that is needlessly thrown away. Unbounded creation of trash and slovenly disposal of it uses up millions of acres and loses billions of dollars of resources. The literal presence of gold in trash is a much needed catalyst that can allow communities to take their waste disposal more seriously. Scientific research targeted towards creating new disposal strategies can speed up this process of resource stewardship. The recreation of the materials found in the trash could be a cause for community craftsmanship to arise. Metal and plastic could be given back or auctioned off to those in the community involved in construction or even local industry.
While there are countless potential uses for this gold in theory, the Royal Mint has already announced that it plans to use the reclaimed gold for its own line of jewelry.
While the Mint has stated plans to create coins once the plant creates more gold, this use of gold is a clever way to appeal to both aesthetic and moral sensibilities. A great amount of guilt has been associated with jewelry, spearheaded by immoral diamond mining practices in Africa. However, 100% recycled gold not only undoes that stigma for consumers, but also associates a wave of pure positive emotion with the acquisition. They are directly promoting conservation and careful resource management, but the fact that an entire brand of jewelry is marketed as such amplifies this effect and increase the Royal Mint’s profit margin in comparison to if they just created bullion.
From governmental entrepreneurship to the pricing effects of conservation, this recent innovation highlights all areas of this intriguing and multivariable world. While the conditions and incentives that drive human action are always changing, the role of gold in civic and private life is ever present.
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
* * *Stateless’ currency gold gains favor over dollar and yuan
Submitted by admin on Sat, 2024-08-10 18:00 Section: Daily Dispatches
Central Banks Dump Dollars and Yuan in Favor of Gold
By Yohei Hirose Nikkei, Tokyo Saturday, August 10, 2024
TOKYO — Central banks are diversifying away from the dollar and yuan while loading up their foreign exchange reserves with a “stateless currency,” gold, in a nod to intensifying geopolitical tensions and global economic uncertainties.
The proportion of the U.S. currency in global foreign reserves has dropped significantly, from over 70% in the early 2000s. Currentl, the dollar’s share of foreign reserves held by central banks and governments worldwide sits atRussia’s invasion of Ukraine triggered strict U.S. sanctions locking Moscow out of the dollar-based global financial system and persuading emerging economies to accumulate gold, which is not tied to any specific country. The shift from currency holdings reflects global fragmentation.
Foreign exchange reserves are assets central banks hold to pay off foreign debts and cover import costs in times of emergency. They also fund currency interventions. Many of these reserves are typically held in dollar-denominated assets, often in easily convertible U.S. Treasurys. …
China still buying gold, Maguire says, and silver short squeeze is near
Submitted by admin on Sat, 2024-08-10 18:29 Section: Daily Dispatches
6:32p ET Saturday, August 10, 2024
Dear Friend of GATA and Gold:
In this week’s episode of Kinesis Money’s “Live from the Vault” program with Shane Morand, London metals trader Andrew Maguire says the People’s Bank of China is continuing to purchase gold, contrary to media reports that construe the bank’s failure to report gold purchases as meaning that no gold has been purchased. Maguire credits gold researcher Jan Nieuwenhuis, who writes at the Gainesville Coins internet site, for exposing the duplicity of the Chinese central bank.
Because silver is not covered by Basel III regulations, Maguire says, it is easier to short in the near term, but silver futures are about to experience a short squeeze because of purchases from India and China.
The U.S. Federal Reserve, Maguire says, is the only central bank that has not yet covered its short position in gold.
This week’s “Live from the Vault” program can be viewed at YouTube here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
Ed Steer: Short position in SLV drops by 35%
Submitted by admin on Sun, 2024-08-11 09:36 Section: Daily Dispatches
9:35a ET Sunday, August 11, 2024
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer’s Gold and Silver Digest, published by GATA board member Ed Steer, is headlined “Short Position in SLV Drops By 35%” and it’s posted in the clear at GoldSeek’s companion site, SilverSeek, here:
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
Chris Powell…..
Gold revaluation is far more democratic money creation than platinum coins
Submitted by admin on Sun, 2024-08-11 10:19 Section: Daily Dispatches
10:53a ET Sunday, August 11, 2024
Dear Friend of GATA and Gold:
This week the brilliant journalist and financial analyst Mike Maharrey of Money Metals Exchange revisited the recent dream of inflationists: to increase the U.S. money supply by means of the U.S. government’s creation of one or two platinum coins with trillion-dollar denominations:
The idea would have the U.S. Treasury Department mint the coins and deposit them with the Federal Reserve, whereupon the Fed could create and distribute U.S. dollars matching the trillion-dollar deposits.
Since a longstanding obscure statute authorizes the Treasury to mint platinum coins of any denomination, this would be a way of increasing the U.S. money supply in a big way without addressing the stupendous and rapidly growing U.S. government debt and without obtaining approval from Congress.
But the trillion-dollar coin idea is similar to a policy change that gold advocates long have been rooting for: a formal revaluation of gold by governments and central banks, including the U.S. Treasury and Federal Reserve.
For if the U.S. government really has full control over what it long has claimed — a reserve of 8,133 tonnes of gold — gold revaluation also could support a lot of money creation.
Gold researcher Jan Nieuwenhuis has been noting for months that many governments and central banks recognize the money-creation potential of gold revaluation and provide for it explicitly with gold revaluation accounts:
Back in 2012 the U.S. economists Paul Brodsky and Lee Quaintance described the potential of gold revaluation and even hypothesized that it was already the plan of major central banks, by which they would redistribute gold reserves among themselves and then with gold revaluation devalue government debt and society’s debts generally while reliquefying themselves:
Writing in 2013 under a pen name — Koos Jansen — Nieuwenhuis called attention to a discussion of gold revaluation at the highest levels of the U.S. State Department in 1974, where Assistant Undersecretary of State Thomas O. Enders explained to Secretary of State Henry Kissinger that gold reserves are the crucial “reserve-creating instrument” of government.
Enders said Western European governments, having then acquired more gold than the U.S. government had, were in a position to control not only the gold price but also, through gold revaluation, the price of all currencies and assets.
Enders told Kissinger that to protect the dollar and its power in the world, the United States had to prevent Western European governments from revaluing gold and indeed had to kick gold out of the world financial system entirely.
“It’s against our interest to have gold in the system because for it to remain there it would result in it being evaluated periodically,” Enders said. “Although we have still some substantial gold holdings — about $11 billion — a larger part of the official gold in the world is concentrated in Western Europe. This gives them the dominant position in world reserves and the dominant means of creating reserves. We’ve been trying to get away from that into a system in which we can control. …”
So the U.S. government might much prefer to “create reserves” via the gimmick of trillion-dollar platinum coins rather than via gold revaluation because the platinum coins would restrict an increase in reserves to the Federal Reserve and the Treasury Department, while a general revaluation of gold would increase the reserves of all governments and central banks holding gold.
That is, gold revaluation would be a far more democratic mechanism of money creation and debt relief or default.
As is suggested by the slow but steady international trend away from U.S. dollars and U.S. government debt and into gold, acknowledged this week by the Japanese news service Nikkei, much of the world has caught on to the U.S. government’s gold price suppression policy. GATA’s work exposing the policy has had a lot to do with this.
The world has not caught on to it because of the work of mainstream financial news organizations and mainstream market analysts, who have refused to report the proof and other evidence of gold price suppression policy, which GATA has compiled here:
Those news organizations and analysts know all about gold price suppression policy because GATA repeatedly has shown them the documentation. They are corrupt, the tools of governments and big money.
But history is that the bad guys always go too far, and maybe with gold price suppression they have gone too far already, exploiting poor, developing, commodity-producing nations for the benefit of rich nations and particularly for the benefit of the United States, whose extravagant debt is to a great extent a brutal tax on the rest of the world, a modern but little-understood form of slavery. For as the poet warned almost two centuries ago:
Truth forever on the scaffold, Wrong forever on the throne, Yet that scaffold sways the future, and, behind the dim unknown, Standeth God within the shadow, keeping watch above his own.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
END
Gold Fields to buy Canada’s Osisko in $1.6 billion deal with 67% share price premium
Submitted by admin on Mon, 2024-08-12 12:16 Section: Daily Dispatches
By Sybilla Gross, Thomas Biesheuvel, and William Clowes Bloomberg News via Yahoo News, Sunnyvale, California Monday, August 12, 2024
Gold Fields Ltd. agreed to buy Canada’s Osisko Mining Inc. in a deal valued at C$2.16 billion ($1.6 billion) as soaring prices for the precious metal drive producers to seek expansion.
The acquisition, which gives Gold Fields full control of a project in Canada, is the latest step by the South African miner to diversify away from the country where it made its name. Those efforts included a failed bid for Toronto-based Yamana Gold Inc. two years ago.
The Johannesburg-listed company will use cash to purchase all outstanding shares in Osisko at a price of C$4.90 apiece, Gold Fields said in a statement today. That represents a 66.7% premium to Osisko’s closing price on Friday, according to Bloomberg’s calculations. …
Mark Twain sort of anticipated the trillion-dollar platinum coin
Submitted by admin on Mon, 2024-08-12 14:22 Section: Daily Dispatches
2:34p ET Monday, August 12, 2024
Dear Friend of GATA and Gold:
Responding to the recent commentary about the idea to spectacularly increase the U.S. money supply via the minting and depositing at the Federal Reserve of one or two platinum coins of trillion-dollar denominations, a friend asks: What would a trillion-dollar platinum coin do to the price of U.S. platinum Eagles?
For whatever it’s worth, your secretary/treasurer doesn’t think that the U.S. government’s resort to the platinum coin gimmick would have any more effect on the price of regular platinum coins than its general inflationary effect on all prices.
But like every other institution, the U.S. Mint occasionally makes mistakes, and there’s a laugh in the possibility that the mint might let a trillion-dollar coin escape into public circulation, with a lucky possessor someday walking into a bank to present it and ask for change.
Back in 1893 Mark Twain had fun with a short story based on the concept underlying the platinum coin, the utility of infinite credit:
It’s more likely that the mint would make any trillion-dollar coin a lot larger than regular coins and the Federal Reserve would lock it in a special display case for exhibiting to schoolchildren so they might learn where money comes from and why their country’s financial system is so ingenious, at least while the world is so easily snookered.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
4. GOLD PODCASTS//LIVE FROM THE VAULT/no 185 with/Andrew Maguire
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COCOA
6 CRYPTOCURRENCY NEWS
END
ASIA TRADING/MONDAY MORNING/FRIDAY NIGHT
SHANGHAI CLOSED DOWN 3.99 PTS OR 0.14% //Hang Seng CLOSED UP 21.42 PTS OR 0.13% // Nikkei CLOSED UP 193.85 OR 0.56%//Australia’s all ordinaries CLOSED UP 0.47%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1790 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1812/ Oil UP TO 77.65 dollars per barrel for WTI and BRENT UP AT 80.39 Stocks in Europe OPENED ALL MOSTLY GREEN
ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGSMONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED DOWN TO 7.1790
OFFSHORE YUAN: DOWN TO 7.1812
SHANGHAI CLOSED DOWN 3.99 PTS OR 0.14 %
HANG SENG CLOSED UP 21.42 PTS OR 0.13%
2. Nikkei closed
3. Europe stocks SO FAR: ALL MOSTLY GREEN
USA dollar INDEX UP TO 103.01 EURO RISES TO 1.0925 UP 14 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +0.851 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 147.50…… 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: DOWN OFFSHORE: DOWN
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and UP FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2470/Italian 10 Yr bond yield UP to 3.661 SPAIN 10 YR BOND YIELD UP TO 3.102%
3i Greek 10 year bond yield UP TO 3.351
3j Gold at $2441.50//Silver at: 27.90 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble DOWN 3 AND 86/ 100 roubles/dollar; ROUBLE AT 90.75
3m oil into the 77 dollar handle for WTI and 80 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 147.50/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.851 % 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 0.8647 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9491 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: 3.959 UP 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.233 UP 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.069 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 33.55…
10 YR UK BOND YIELD: 3.993 UP 5 PTS
10 YR CANADA BOND YIELD: 3.138 UP 0 BASIS PTS
2a New York OPENING REPORT
Futures Gain As Yen Resumes Slides, Oil Jumps
MONDAY, AUG 12, 2024 – 08:13 AM
US equity futures are seeing a slight bid, tracking Asian and European markets higher, as the week starts off more muted than last week but with a preference towards Quality. As of 7:45am, S&P 500 and Nasdaq 100 contracts are about 0.3% higher as Mag7 names are mixed but net higher and Semis are bid, while Europe’s Stoxx 600 index erased most of a 0.5% advance. Bond yields are flat as is the USD while the yen continued dropping as more jawboning from an ex-BOJ member suggested that rate hikes in Japan are effectively over, giving a green light to restart carry trades . Commodities are stronger led by Energy, WTI is higher after adding 4.5% last week. Copper is higher after 5 consecutive weekly losses and 11 of last 12 weeks, -20% from highs. Today’s macro focus is the NY Fed’s 1-year inflation expectation (3.02% prior). This is a heavy macro data week with both growth and inflation measures and the market is waiting on that data to determine the next market narrative. Earnings are almost complete but DE, HD, and WMT will provide important updates on the Consumer.
In premarket trading, Starbucks rose 2% after the WSJ reported that activist investor Starboard Value has taken a stake. Here are the other notable premarket movers:
B. Riley Financial tumbles 25% after suspending its dividend as the boutique investment bank wrote down a portion of its stake in a US retail business.
Hawaiian Electric falls 11% after pegging losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issuing a going-concern warning.
Humacyte sinks 12% as the FDA needs more time to review a biologic license application.
JetBlue Airways slips 5% after announcing a $400 million convertible senior notes offering.
KeyCorp (KEY) gains 14% after receiving a minority investment from Scotiabank.
Monday.com (MNDY) rises 8% after posting a 2Q profit that topped estimates.
Pacira BioSciences (PCRX) drops 4% after a court found its Exparel 495 patent not valid.
There was some relief for investors Monday from the volatility that ripped through markets in recent sessions, fueled by concerns the Fed is waiting too long to cut rates. The S&P 500 last week posted both its biggest one-day slump and best rebound since 2022.
“We all know that August tends to be a market in which we could see massive volatility simply because the liquidity does tend to be lower,” Sonja Marten, head of FX and monetary policy research at DZ Bank, said in an interview with Bloomberg TV. “This complete overreaction, panic move last week kind of goes to prove that.”
And while the VIX has retreated from its highest levels since the early days of the Covid-19 pandemic, there’s no certainty the relative calm will continue, with Wednesday’s US inflation data the key volatility event for the week. According to Citigroup, traders are positioning for the S&P 500 to move 1.2% in either direction when the consumer price index report is released.
Meanwhile, as bond markets have moved to account for a Fed that is “behind the curve,” the risk isn’t “priced into current equity multiples,” according to Morgan Stanley strategists. The team led by Michael Wilson said economic growth is the primary concern for investors, rather than inflation and rates. “Markets are looking for better growth or more policy support to get excited again,” the team wrote in a note. “We don’t see confirming evidence in either direction near term, leaving the index to trade in a tight range for now.”
Still, investors did take flight from stocks during last week’s wild swings. They reduced their equity allocations at the sharpest pace since the onset of the Covid pandemic, according to data from Deutsche Bank. Aggregate allocation to stocks is now in the 31st percentile and underweight, strategists including Parag Thatte wrote in a note dated Aug. 9. Just three weeks ago, exposure was at the top of the historical range in the 97th percentile.
Meanwhile, over the weekend we got a stark reminder that inflation still faces upside risks, after Fed Governor Michelle Bowman said she still sees upside risks for inflation and continued strength in the labor market, signaling she may not be ready to support an interest-rate decrease when US central bankers next meet in September. Money markets have fully priced a rate cut in September and about 100 basis points of easing for the year, according to swaps data compiled by Bloomberg. Separately, continued gains in oil in the next few weeks may throw a wrench in the Fed’s rate cutting plans.
“The problem is also that central banks have been emphasizing that they are acting very data-dependent these days,” DZ Bank’s Marten said. “Investors are trading from one data point to the next. That does also create additional volatility.”
Elsewhere, the European Central Bank is now seen as likely to cut its deposit rate once a quarter through the end of next year, a timetable that will see its easing cycle end sooner than previously anticipated. A Bloomberg survey of forecasters shows that benchmark hitting 2.25% in December 2025 following six consecutive quarter-point reductions.
European stocks erased gains as more sectors turn red, with traders preparing for a busy week on the data front. Real estate and health care lag peers, while energy and miners lead climbers. UK’s FTSE 100 outperforms regional peers with a 0.3% rise. In London, BT Group Plc rallied more than 7% after Bharti Global agreed to buy a stake of about 24.5% in the UK carrier. Here are some of the other biggest European movers on Monday:
Hannover Re rises as much as 6.3%, the most since November 2020, after the German reinsurer reported net investment income that beat the average analyst estimate in the second quarter. Jefferies says the strength of mid-year renewals prices supports the outlook.
Eutelsat shares rise as much as 4.6% Monday after the satellite operator said it’s exploring a sale of a majority stake in its satellite ground infrastructure to EQT.
Orlen shares rose most since April 2 after Poland’s largest energy company reported preliminary earnings that beat analyst expectations.
JDE Peet’s shares fall as much as 1.7% after the coffee company announced its interim CEO and chairman Luc Vandervelde will step down, just five months after the exit of its former chief executive. The loss of yet another CEO in a short space of time makes the company look “careless,” ING analysts say.
JD Sports shares fall as much as 2.8% after the sporting goods retailer was downgraded to sell from hold at Deutsche Bank, which said the stock is trading at an “unwarranted” free cash flow yield premium to peers.
Marshalls shares drop as much as 5.3% after the landscaping, building and roofing products supplier reported sharp double-digit drops in revenue and earnings in the first half. Peel Hunt said this was driven by challenging conditions for its Landscaping arm.
Aryzta shares decline as much as 4.5% after the Swiss industrial baker reported first-half organic growth that Vontobel described as “weak.”
Earlier, Asian equities advanced for a second session as technology stocks in South Korea and Taiwan extended a rebound from last week’s rout. The MSCI Asia Ex-Japan Index climbed 0.4%, kicking off the week on a positive note after declining for four straight weeks. Technology stocks in the region, including Taiwan Semiconductor Manufacturing Co., Tencent Holdings Ltd., Hon Hai Precision Industry Co. and Samsung Electronics Co., were among the biggest contributors to the gains. Japan is closed for a holiday. Artificial intelligence-related stocks are regaining momentum after a brutal selloff last week that saw an unwinding of some of these crowded trades. Traders will shift their focus to key US data prints this week as they assess the possibility of a recession in the world’s largest economy.
In FX, the Bloomberg dollar spot index is steady. NZD and AUD are the strongest performers in G-10 FX, JPY and CHF underperform. Dollar-yen is at around 147.6: the yen dropped the most against the dollar among major peers after former board member Makoto Sakurai said the Bank of Japan won’t be able to raise the policy rate again this year, given the market turmoil that followed its recent hike and the low likelihood of the nation’s economy seeing a rapid recovery. That followed last week’s surge as traders slashed bearish bets in the wake of the Bank of Japan’s July 31 rate hike. The BOJ’s move prompted investors to dump carry trades, unleashing turmoil that ricocheted across global markets.
In rates, treasuries are slightly cheaper across the curve, although yields remain near to Friday’s closing levels and spreads remain steady. Treasury 10-year yields trade around 3.955%, cheaper by about 1bp on the day, with bunds lagging by ~1bp in the sector. Treasury spreads are broadly within 1bp of Friday’s close. Fed comments over the weekend included Governor Michelle Bowman, who said she sees upside inflation risk, signaling caution on rate cuts. In Asia, China 10-year yields rose as much as 5bps, as the central bank warned on potential risks arising from the relentless rally in the debt market.
In commodities, oil extended its first weekly gain since early July, with traders continuing to monitor Iran’s response to last month’s assassination of a Hamas leader in Tehran. WTI futures are higher by 1.1%, supporting energy names; Brent rises 0.6% near $80.15. Spot gold rises roughly $13 to trade near $2,444/oz, the highest in a week. Spot silver gains 1.4% near $28. Most base metals trade in the green.with traders focused on the week’s key US data. Bullion has gained more than 18% this year and remains in touching distance of last month’s all-time high. Along with rate-cut expectations, it’s also been supported by firm central bank buying and robust demand from Chinese consumers.
Looking today’s calendar, it is a quiet session for scheduled events: the US data slate includes July New York Fed 1-year inflation expectations (11am) and monthly budget statement (2pm).No Fed speakers scheduled for the session
Market Snapshot
S&P 500 futures up 0.3% to 5,384
STOXX Europe 600 up 0.3% to 500.51
MXAP up 0.1% to 175.65
MXAPJ up 0.4% to 555.47
Nikkei up 0.6% to 35,025.00
Topix up 0.9% to 2,483.30
Hang Seng Index up 0.1% to 17,111.65
Shanghai Composite down 0.1% to 2,858.21
Sensex up 0.3% to 79,947.89
Australia S&P/ASX 200 up 0.5% to 7,813.70
Kospi up 1.2% to 2,618.30
German 10Y yield little changed at 2.24%
Euro little changed at $1.0919
Brent Futures up 0.6% to $80.14/bbl
Gold spot up 0.4% to $2,439.83
Top Overnight News
Federal Reserve Governor Michelle Bowman said she still sees upside risks for inflation and continued strength in the labor market, signaling she may not be ready to support an interest-rate decrease when US central bankers next meet in September
US VP Harris said she will work to raise the minimum wage and eliminate taxes on tips for service and hospitality workers, copying Trump policy promises
US-China working group set to meet in China this week: NYT
In Secret Talks, U.S. Offers Amnesty to Venezuela’s Maduro for Ceding Power: WSJ
Oil steadied after its first weekly gain since early July, with the market still waiting for Iran’s response to last month’s assassination of a Hamas leader in Tehran
The Bank of Japan won’t be able to raise the policy rate again this year, given the market turmoil that followed its recent hike and the low likelihood of the nation’s economy seeing a rapid recovery, according to a former board member
Former Treasury Secretary Lawrence Summers urged the Securities and Exchange Commission and relevant exchanges to look into the historic surge in the most-watched gauge of US financial volatility on August 5
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the week mostly higher following last Friday’s gains on Wall St and light macro newsflow over the weekend, but with gains capped amid an indecisive mood in China and holiday closure in Japan for Mountain Day. ASX 200 advanced with the upside led by outperformance in Consumer Discretionary, Tech, Telecoms and Financials. Hang Seng and Shanghai Comp. were indecisive as lingering economic concerns offset the PBoC’s liquidity efforts.
Top Asian News
PBoC’s low carbon financing scheme which provides financial institutions with low-cost loans targeting carbon emission cuts was extended to the end of 2027, according to the State Council.
RBA Deputy Governor Hauser said economic forecasts are subject to huge uncertainty and assume inflation stickiness due to weaker supply and labour market tightness, while he added there is risk consumption could rise more strongly, in part due to an increase in wealth and it is uncertain how far and fast the savings rate might rise.
Chinese brokers curb bond trading amid warnings of a rally, via Bloomberg; at least four brokerages have started fresh measures to cut back trading on government bonds since last week.
European equities, Stoxx 600 (+0.3%) have started the week on a mostly firmer footing, taking positive leads from a constructive APAC session. European sectors hold a strong positive bias. Insurance takes the top spot, propped up by post-earning strength in Hannover Re. Basic Resources and Energy are both higher, given the strength in underlying commodity prices. US Equity Futures (ES +0.2%, NQ +0.3%, RTY -0.1%) are mixed, with the ES and NQ very modestly firmer, benefiting from the generally positive risk tone.
Top European News
BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again, while she added that wage pressures in the economy could take years to dissipate. Furthermore, Mann said she moved down from ten to seven on a scale of “hawkishness” since the start of the year as price pressures eased, according to FT.
Fitch affirmed Netherlands at AAA: Outlook Stable, while it affirmed Finland at AA+; Outlook Revised to Negative.
FX
DXY is trading relatively flat and within tight ranges of 103.12-24, in what has been a catalyst thin session thus far. This week’s focus is on US inflation data, followed by Retail Sales.
EUR is choppy but within tight ranges and largely moving at the whim of the buck in the absence of any further catalysts. EUR/USD remains within Friday’s 1.0908-1.0931 parameter.
GBP/USD experienced early upticks as EUR/GBP briefly dipped under 0.8550 (to 0.8544 low) in turn propping up GBP/USD which found resistance just shy of its 50 DMA (1.2784), with the pair’s current range between 1.2748-1.2782 range. Overnight, BoE’s Mann said UK wage growth is still a concern for inflation.
JPY is the marked laggard with Japanese players away overnight on Mountain Day holiday. Traditional haven FX are hit despite the geopolitical uncertainty. Price action in the JPY has been gradual and contained to within Friday’s range between 146.26-147.81.
Antipodeans outperform, benefitting from the overall risk tone and strength in the metals complex. NZD/USD is back above the 0.6000 level ahead of the RBNZ meeting where there are mixed views on whether the central bank will cut rates or not.
PBoC set USD/CNY mid-point at 7.1458 vs exp. 7.1777 (prev. 7.1449)
Fixed Income
USTs are subdued after hitting a high of 113-05 last Friday, leading to a slight pullback. Price action has been fairly rangebound, given the lack of pertinent newsflow, so attention remains firmly on US CPI mid-week. Currently trading around 112’25.
Bunds are modestly softer with the broader bond complex inching lower since the uneventful APAC trade, with some potential follow-through from the upticks in oil and gas prices on yields.
Gilts are slightly lower but still comfortably above the Aug 8 low of 99.20. The UK docket is quiet today. Overnight, BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again.
Commodities
Crude is firmer intraday and inching higher amid geopolitical uncertainty over Iran and Lebanon’s response against Israel to the assassinations of the Hamas leader and Hezbollah commander, with the risk of the response sparking a region-wide war.
Natural Gas is firmly in the green amid broader energy upside. Dutch TTF holds north of EUR 40/MWh and closer to EUR 41/MWh as the Ukrainian offensive within Russia widens, with Russian authorities suggesting the situation in the Belovsky border region in Kursk is very tense.
Metals are firmer across the board with precious metals buoyed by geopolitical angst and base metals held up by the broader risk tone alongside some fears of sluggish global growth abating. Spot gold topped last week’s high to trade in a current USD 2,423.67-2,442.70/oz range at the time of writing.
Iran’s President nominated Mohsen Paknezhad as Oil Minister and Abbas Aragchi as Foreign Minister.
OPEC Monthly Oil Market Report to be published at 11:45BST / 06:45EDT
Geopolitics: Ukraine
“IDF Radio: The final decision on the direct attack has not yet been made and is in the hands of the Iranian leader… The Iranian attack, if carried out, will be limited and will not lead to a wide regional war”, Via Ashaq News. “Israeli Army Radio: Iran is close to deciding to launch a direct attack from its territory towards Israel”
Israel conducted an air strike which killed nearly 100 in a Gaza school refuge, according to civil defence officials cited by Reuters. It was also reported that Israel ordered a major evacuation in Gaza’s Khan Younis.
Israeli media reported that at least 30 rockets were fired by Hezbollah towards Israel of which some were intercepted by air defences, while no casualties were reported from the rocket shelling on the city of Nahariya and its suburbs.
Israeli intelligence believes Iran has decided to attack Israel directly and may do so within days, according to Axios’s Ravid. It was also reported that Israeli Defence Minister Gallant spoke to US counterpart Austin and told him Iranian military preparations suggest Iran is getting ready for a large-scale attack, while Israeli intelligence assessment indicated an Iran attack may precede ceasefire talks scheduled for Thursday. Furthermore, Israel’s military intelligence and air force raised the alert level amid the threat from Iran.
US Defence Secretary Austin told Israeli counterpart Gallant he ordered the USS Abraham Lincoln carrier strike group to accelerate its transit to the Middle East, while he also ordered the USS Georgia guided missile submarine to the Central Command region.
Iran’s Revolutionary Guards held a military drill in West Iran, according to IRNA.
Hamas asked mediators to present a plan based on past talks instead of engaging in new negotiations, according to a statement.
Several US and coalition personnel suffered minor injuries in an attack in Syria on Friday, according to a US official cited by Reuters.
Geopolitics: Other
IAEA said its experts witnessed a strong dark smoke coming from the northern area of the Zaporizhzhia nuclear plant following multiple explosions but added that there was no safety impact reported.
Ukrainian President Zelensky said Russia started a fire on the premises of the Zaporizhzhia nuclear plant in southern Ukraine but added that radiation indicators are normal. It was also reported that the Russian management of the Zaporizhzhia nuclear plant accused Ukraine of causing a fire near the cooling towers of the Zaporizhzhia nuclear plant by shelling the nearby city of Enerhodar although it noted that the fire had no impact on its plant and its safe use.
Main fire at the Russian-controlled Zaporizhzhia power plant in Ukraine had been extinguished, while Russian and Ukrainian authorities said in separate statements that one of the cooling towers at the power plant was damaged, according to Reuters. Furthermore, Russian President Putin ordered tighter security at strategic facilities in Zaporizhzhia including the nuclear plant.
Ukrainian President Zelensky said Russia conducted nearly 2,000 cross-border strikes on Ukraine’s Sumy region from the Kursk region this summer and such strikes deserve a fair response from Ukraine. Zelensky also commented that Russian forces used a North Korean missile in a strike on the Kyiv region which killed two people, while the Ukrainian military said it destroyed 53 attack drones launched by Russia during a strike over the weekend.
Russia’s Kursk region governor ordered a faster evacuation of civilians in areas at risk of Ukraine’s attack and announced that thirteen people were injured from a downed Ukrainian missile in Russia’s Kursk city, while it was reported that Russia’s air defence systems destroyed 14 Ukraine-launched drones and four missiles over the Kursk region.
Belarusian President Lukashenko said Belarus’s air forces were put on high alert after Ukraine violated Belarus’s air space and Belarus destroyed objects thought to be Ukrainian drones that had entered their air space.
Philippine military said a Chinese air force aircraft executed a dangerous manoeuvre and dropped flares in the path of a Philippine air force aircraft in the South China Sea shoal. Furthermore, the Philippines presidential office said the action of the Chinese aircraft was unjustified, illegal and reckless, while President Marcos strongly condemned the air incident at Scarborough Shoal.
US Event Calendar
11:00: July NY Fed 1-Yr Inflation Expectat, prior 3.02%
14:00: July Monthly Budget Statement, est. -$242b, prior -$66b
2B) European report
Equities modestly firmer amid the positive risk tone, which has helped to lift Antipodeans; Crude gains as geopols take focus – US Market Open
MONDAY, AUG 12, 2024 – 06:22 AM
Equities are mostly, but modestly firmer, taking positive leads from a constructive APAC session.
Dollar is flat, Antipodeans outperform whilst traditional haven FX lags.
Bonds are incrementally softer and have traded sideways for much of the session.
Crude outperforms amid the heightened geopolitical tensions, XAU edges towards USD 2450/oz.
Looking ahead, highlights include Indian CPI & US NY Fed SCE.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
EUROPEAN TRADE
EQUITIES
European equities, Stoxx 600 (+0.3%) have started the week on a mostly firmer footing, taking positive leads from a constructive APAC session.
European sectors hold a strong positive bias. Insurance takes the top spot, propped up by post-earning strength in Hannover Re. Basic Resources and Energy are both higher, given the strength in underlying commodity prices.
US Equity Futures (ES +0.2%, NQ +0.3%, RTY -0.1%) are mixed, with the ES and NQ very modestly firmer, benefiting from the generally positive risk tone.
DXY is trading relatively flat and within tight ranges of 103.12-24, in what has been a catalyst thin session thus far. This week’s focus is on US inflation data, followed by Retail Sales.
EUR is choppy but within tight ranges and largely moving at the whim of the buck in the absence of any further catalysts. EUR/USD remains within Friday’s 1.0908-1.0931 parameter.
GBP/USD experienced early upticks as EUR/GBP briefly dipped under 0.8550 (to 0.8544 low) in turn propping up GBP/USD which found resistance just shy of its 50 DMA (1.2784), with the pair’s current range between 1.2748-1.2782 range. Overnight, BoE’s Mann said UK wage growth is still a concern for inflation.
JPY is the marked laggard with Japanese players away overnight on Mountain Day holiday. Traditional haven FX are hit despite the geopolitical uncertainty. Price action in the JPY has been gradual and contained to within Friday’s range between 146.26-147.81.
Antipodeans outperform, benefitting from the overall risk tone and strength in the metals complex. NZD/USD is back above the 0.6000 level ahead of the RBNZ meeting where there are mixed views on whether the central bank will cut rates or not.
PBoC set USD/CNY mid-point at 7.1458 vs exp. 7.1777 (prev. 7.1449)
USTs are subdued after hitting a high of 113-05 last Friday, leading to a slight pullback. Price action has been fairly rangebound, given the lack of pertinent newsflow, so attention remains firmly on US CPI mid-week. Currently trading around 112’25.
Bunds are modestly softer with the broader bond complex inching lower since the uneventful APAC trade, with some potential follow-through from the upticks in oil and gas prices on yields.
Gilts are slightly lower but still comfortably above the Aug 8 low of 99.20. The UK docket is quiet today. Overnight, BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again.
Crude is firmer intraday and inching higher amid geopolitical uncertainty over Iran and Lebanon’s response against Israel to the assassinations of the Hamas leader and Hezbollah commander, with the risk of the response sparking a region-wide war.
Natural Gas is firmly in the green amid broader energy upside. Dutch TTF holds north of EUR 40/MWh and closer to EUR 41/MWh as the Ukrainian offensive within Russia widens, with Russian authorities suggesting the situation in the Belovsky border region in Kursk is very tense.
Metals are firmer across the board with precious metals buoyed by geopolitical angst and base metals held up by the broader risk tone alongside some fears of sluggish global growth abating. Spot gold topped last week’s high to trade in a current USD 2,423.67-2,442.70/oz range at the time of writing.
Iran’s President nominated Mohsen Paknezhad as Oil Minister and Abbas Aragchi as Foreign Minister.
OPEC Monthly Oil Market Report to be published at 11:45BST / 06:45EDT
German Wholesale Price Index YY (Jul) -0.1% (Prev. -0.6%); MM (Jul) 0.3% (Prev. -0.3%)
Czech CPI YY (Jul) 2.2% vs. Exp. 2.0% (Prev. 2.0%); CPI MM (Jul) 0.7% vs. Exp. 0.5% (Prev. -0.3%)
NOTABLE EUROPEAN HEADLINES
BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again, while she added that wage pressures in the economy could take years to dissipate. Furthermore, Mann said she moved down from ten to seven on a scale of “hawkishness” since the start of the year as price pressures eased, according to FT.
Fitch affirmed Netherlands at AAA: Outlook Stable, while it affirmed Finland at AA+; Outlook Revised to Negative.
NOTABLE US HEADLINES
Fed’s Bowman (voter) said it will become appropriate to gradually lower the policy rate if inflation continues to move towards 2%, while she is not confident inflation will decline as it did in H2 last year and noted progress on inflation in May and June is welcome but inflation is still uncomfortably above the Fed’s 2% goal. Bowman also said the September meeting will have additional economic data and a wider view of financial conditions’ impact on the outlook, as well as noted they need to be patient and still see some upside risks to inflation.
US VP Harris said she will work to raise the minimum wage and eliminate taxes on tips for service and hospitality workers.
US-China working group set to meet in China this week, according to New York Times.
GEOPOLITICS
“IDF Radio: The final decision on the direct attack has not yet been made and is in the hands of the Iranian leader… The Iranian attack, if carried out, will be limited and will not lead to a wide regional war”, Via Ashaq News. “Israeli Army Radio: Iran is close to deciding to launch a direct attack from its territory towards Israel”
Israel conducted an air strike which killed nearly 100 in a Gaza school refuge, according to civil defence officials cited by Reuters. It was also reported that Israel ordered a major evacuation in Gaza’s Khan Younis.
Israeli media reported that at least 30 rockets were fired by Hezbollah towards Israel of which some were intercepted by air defences, while no casualties were reported from the rocket shelling on the city of Nahariya and its suburbs.
Israeli intelligence believes Iran has decided to attack Israel directly and may do so within days, according to Axios’s Ravid. It was also reported that Israeli Defence Minister Gallant spoke to US counterpart Austin and told him Iranian military preparations suggest Iran is getting ready for a large-scale attack, while Israeli intelligence assessment indicated an Iran attack may precede ceasefire talks scheduled for Thursday. Furthermore, Israel’s military intelligence and air force raised the alert level amid the threat from Iran.
US Defence Secretary Austin told Israeli counterpart Gallant he ordered the USS Abraham Lincoln carrier strike group to accelerate its transit to the Middle East, while he also ordered the USS Georgia guided missile submarine to the Central Command region.
Iran’s Revolutionary Guards held a military drill in West Iran, according to IRNA.
Hamas asked mediators to present a plan based on past talks instead of engaging in new negotiations, according to a statement.
Several US and coalition personnel suffered minor injuries in an attack in Syria on Friday, according to a US official cited by Reuters.
OTHER
IAEA said its experts witnessed a strong dark smoke coming from the northern area of the Zaporizhzhia nuclear plant following multiple explosions but added that there was no safety impact reported.
Ukrainian President Zelensky said Russia started a fire on the premises of the Zaporizhzhia nuclear plant in southern Ukraine but added that radiation indicators are normal. It was also reported that the Russian management of the Zaporizhzhia nuclear plant accused Ukraine of causing a fire near the cooling towers of the Zaporizhzhia nuclear plant by shelling the nearby city of Enerhodar although it noted that the fire had no impact on its plant and its safe use.
Main fire at the Russian-controlled Zaporizhzhia power plant in Ukraine had been extinguished, while Russian and Ukrainian authorities said in separate statements that one of the cooling towers at the power plant was damaged, according to Reuters. Furthermore, Russian President Putin ordered tighter security at strategic facilities in Zaporizhzhia including the nuclear plant.
Ukrainian President Zelensky said Russia conducted nearly 2,000 cross-border strikes on Ukraine’s Sumy region from the Kursk region this summer and such strikes deserve a fair response from Ukraine. Zelensky also commented that Russian forces used a North Korean missile in a strike on the Kyiv region which killed two people, while the Ukrainian military said it destroyed 53 attack drones launched by Russia during a strike over the weekend.
Russia’s Kursk region governor ordered a faster evacuation of civilians in areas at risk of Ukraine’s attack and announced that thirteen people were injured from a downed Ukrainian missile in Russia’s Kursk city, while it was reported that Russia’s air defence systems destroyed 14 Ukraine-launched drones and four missiles over the Kursk region.
Belarusian President Lukashenko said Belarus’s air forces were put on high alert after Ukraine violated Belarus’s air space and Belarus destroyed objects thought to be Ukrainian drones that had entered their air space.
Philippine military said a Chinese air force aircraft executed a dangerous manoeuvre and dropped flares in the path of a Philippine air force aircraft in the South China Sea shoal. Furthermore, the Philippines presidential office said the action of the Chinese aircraft was unjustified, illegal and reckless, while President Marcos strongly condemned the air incident at Scarborough Shoal.
CRYPTO
Bitcoin continues to slip and sinks below USD 58.5k, whilst Ethereum remains above USD 2.5k.
APAC TRADE
APAC stocks began the week mostly higher following last Friday’s gains on Wall St and light macro newsflow over the weekend, but with gains capped amid an indecisive mood in China and holiday closure in Japan for Mountain Day.
ASX 200 advanced with the upside led by outperformance in Consumer Discretionary, Tech, Telecoms and Financials.
Hang Seng and Shanghai Comp. were indecisive as lingering economic concerns offset the PBoC’s liquidity efforts.
NOTABLE ASIA-PAC HEADLINES
PBoC’s low carbon financing scheme which provides financial institutions with low-cost loans targeting carbon emission cuts was extended to the end of 2027, according to the State Council.
RBA Deputy Governor Hauser said economic forecasts are subject to huge uncertainty and assume inflation stickiness due to weaker supply and labour market tightness, while he added there is risk consumption could rise more strongly, in part due to an increase in wealth and it is uncertain how far and fast the savings rate might rise.
Chinese brokers curb bond trading amid warnings of a rally, via Bloomberg; at least four brokerages have started fresh measures to cut back trading on government bonds since last week.
2C) ASIAN REPORT
APAC stocks mostly higher, JPY & CHF slightly softer as risk-tone improves – Europe Market Open
MONDAY, AUG 12, 2024 – 01:45 AM
APAC stocks began the week mostly higher following last Friday’s gains on Wall St and light macro newsflow over the weekend; Japanese markets were closed for Mountain Day.
European equity futures indicate a firmer open with Euro Stoxx 50 futures up 0.5% after the cash market finished with gains of 0.1% on Friday.
10-year UST futures lacked direction amid light catalysts and with overnight cash treasuries shut due to the Tokyo closure.
BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again; Mann said she moved down from ten to seven on a scale of “hawkishness”.
Israeli Defence Minister Gallant said Iranian military preparations suggest Iran is getting ready for a large-scale attack; may precede ceasefire talks scheduled for Thursday.
Looking ahead, highlights include Indian CPI, German Retail Sales & US NY Fed SCE.
2. Listen to this report in the market open podcast (available on Apple and Spotify)
3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days
US TRADE
EQUITIES
US stocks finished mostly higher on Friday in which the major indices were led by outperformance in the Nasdaq although the small-cap Russell 2000 index lagged and closed in the red, while the majority of sectors were in the green with outperformance in Communication Services, Technology, and Real Estate. Furthermore, treasuries bull flattened and the dollar was pressured although the DXY remained above the 103.00 level as the attention shifted to the upcoming week’s US CPI release.
SPX +0.47% at 5,344, NDX +0.54% at 18,513, DJIA +0.13% at 39,498, RUT -0.17% at 2,081.
Fed’s Bowman (voter) said it will become appropriate to gradually lower the policy rate if inflation continues to move towards 2%, while she is not confident inflation will decline as it did in H2 last year and noted progress on inflation in May and June is welcome but inflation is still uncomfortably above the Fed’s 2% goal. Bowman also said the September meeting will have additional economic data and a wider view of financial conditions’ impact on the outlook, as well as noted they need to be patient and still see some upside risks to inflation.
US VP Harris said she will work to raise the minimum wage and eliminate taxes on tips for service and hospitality workers.
APAC TRADE
EQUITIES
APAC stocks began the week mostly higher following last Friday’s gains on Wall St and light macro newsflow over the weekend, but with gains capped amid an indecisive mood in China and holiday closure in Japan for Mountain Day.
ASX 200 advanced with the upside led by outperformance in Consumer Discretionary, Tech, Telecoms and Financials.
Hang Seng and Shanghai Comp. were indecisive as lingering economic concerns offset the PBoC’s liquidity efforts.
US equity futures traded sideways in the absence of major catalysts and as markets await US inflation data.
European equity futures indicate a firmer open with Euro Stoxx 50 futures up 0.5% after the cash market finished with gains of 0.1% on Friday.
FX
DXY was little changed as participants look ahead to the US inflation data scheduled this week, while recent comments from Fed’s Bowman provided very little incrementally in which she noted it will become appropriate to gradually lower rates if inflation continues to move towards 2%.
EUR/USD pared the initial marginal gains with price action rangebound slightly above the 1.0900 level.
GBP/USD struggled to find direction after last week’s choppy mood and amid the absence of fresh catalysts.
USD/JPY reclaimed the 147.00 handle but with further upside capped as Japanese participants were away for holiday, while former BoJ board member Sakurai said the BoJ will not be able to hike again this year citing market turmoil and low probability of a rapid economic recovery.
Antipodeans were underpinned in quiet newsflow with NZD/USD back above the 0.6000 level ahead of the RBNZ meeting where there are mixed views on whether the central bank will cut rates or not, while the NZIER Shadow Board was also split but the majority recommended a cut.
PBoC set USD/CNY mid-point at 7.1458 vs exp. 7.1777 (prev. 7.1449)
FIXED INCOME
10-year UST futures lacked direction amid light catalysts and with overnight cash treasuries shut due to the Tokyo closure.
Bund futures traded uneventfully with price action stuck around the 134.50 level ahead of German WPI data.
COMMODITIES
Crude futures remained afloat after last week’s rally and as geopolitical risks lingered with Israeli intelligence suggesting that Iran may conduct a direct attack on Israel within days.
Iran’s President nominated Mohsen Paknezhad as Oil Minister and Abbas Aragchi as Foreign Minister.
Spot gold was rangebound amid a lack of fresh drivers and as markets await US CPI data scheduled midweek.
Copper futures were indecisive amid the choppy performance seen in its largest buyer, China.
CRYPTO
Bitcoin traded indecisively after failing to sustain an early advance above the USD 59,000 level.
NOTABLE ASIA-PAC HEADLINES
PBoC’s low carbon financing scheme which provides financial institutions with low-cost loans targeting carbon emission cuts was extended to the end of 2027, according to the State Council.
RBA Deputy Governor Hauser said economic forecasts are subject to huge uncertainty and assume inflation stickiness due to weaker supply and labour market tightness, while he added there is risk consumption could rise more strongly, in part due to an increase in wealth and it is uncertain how far and fast the savings rate might rise.
GEOPOLITICAL
MIDDLE EAST
Israel conducted an air strike which killed nearly 100 in a Gaza school refuge, according to civil defence officials cited by Reuters. It was also reported that Israel ordered a major evacuation in Gaza’s Khan Younis.
Israeli media reported that at least 30 rockets were fired by Hezbollah towards Israel of which some were intercepted by air defences, while no casualties were reported from the rocket shelling on the city of Nahariya and its suburbs.
Israeli intelligence believes Iran has decided to attack Israel directly and may do so within days, according to Axios’s Ravid. It was also reported that Israeli Defence Minister Gallant spoke to US counterpart Austin and told him Iranian military preparations suggest Iran is getting ready for a large-scale attack, while Israeli intelligence assessment indicated an Iran attack may precede ceasefire talks scheduled for Thursday. Furthermore, Israel’s military intelligence and air force raised the alert level amid the threat from Iran.
US Defence Secretary Austin told Israeli counterpart Gallant he ordered the USS Abraham Lincoln carrier strike group to accelerate its transit to the Middle East, while he also ordered the USS Georgia guided missile submarine to the Central Command region.
Iran’s Revolutionary Guards held a military drill in West Iran, according to IRNA.
Hamas asked mediators to present a plan based on past talks instead of engaging in new negotiations, according to a statement.
Several US and coalition personnel suffered minor injuries in an attack in Syria on Friday, according to a US official cited by Reuters.
OTHER
IAEA said its experts witnessed a strong dark smoke coming from the northern area of the Zaporizhzhia nuclear plant following multiple explosions but added that there was no safety impact reported.
Ukrainian President Zelensky said Russia started a fire on the premises of the Zaporizhzhia nuclear plant in southern Ukraine but added that radiation indicators are normal. It was also reported that the Russian management of the Zaporizhzhia nuclear plant accused Ukraine of causing a fire near the cooling towers of the Zaporizhzhia nuclear plant by shelling the nearby city of Enerhodar although it noted that the fire had no impact on its plant and its safe use.
Main fire at the Russian-controlled Zaporizhzhia power plant in Ukraine had been extinguished, while Russian and Ukrainian authorities said in separate statements that one of the cooling towers at the power plant was damaged, according to Reuters. Furthermore, Russian President Putin ordered tighter security at strategic facilities in Zaporizhzhia including the nuclear plant.
Ukrainian President Zelensky said Russia conducted nearly 2,000 cross-border strikes on Ukraine’s Sumy region from the Kursk region this summer and such strikes deserve a fair response from Ukraine. Zelensky also commented that Russian forces used a North Korean missile in a strike on the Kyiv region which killed two people, while the Ukrainian military said it destroyed 53 attack drones launched by Russia during a strike over the weekend.
Russia’s Kursk region governor ordered a faster evacuation of civilians in areas at risk of Ukraine’s attack and announced that thirteen people were injured from a downed Ukrainian missile in Russia’s Kursk city, while it was reported that Russia’s air defence systems destroyed 14 Ukraine-launched drones and four missiles over the Kursk region.
Belarusian President Lukashenko said Belarus’s air forces were put on high alert after Ukraine violated Belarus’s air space and Belarus destroyed objects thought to be Ukrainian drones that had entered their air space.
Philippine military said a Chinese air force aircraft executed a dangerous manoeuvre and dropped flares in the path of a Philippine air force aircraft in the South China Sea shoal. Furthermore, the Philippines presidential office said the action of the Chinese aircraft was unjustified, illegal and reckless, while President Marcos strongly condemned the air incident at Scarborough Shoal.
EU/UK
NOTABLE HEADLINES
BoE’s Mann said UK wage growth is still a concern for inflation and goods and services prices were set to rise again, while she added that wage pressures in the economy could take years to dissipate. Furthermore, Mann said she moved down from ten to seven on a scale of “hawkishness” since the start of the year as price pressures eased, according to FT.
Fitch affirmed Netherlands at AAA: Outlook Stable, while it affirmed Finland at AA+; Outlook Revised to Negative.
Sinwar “has gotten stronger […] contrary to all estimations,” said Rami Igra, former head of the hostages and missing person directorate in the Mossad.
By 103FMAUGUST 11, 2024 10:58Updated: AUGUST 11, 2024 12:41
Hamas chief in Gaza Yahya Sinwar “does not want a deal and has no reason to achieve a deal right now,” Rami Igra, former head of the hostages and missing person directorate in the Mossad, said in a conversation with Radio 103FM on Sunday.
“It pains me to defend Netanyahu, but at the same time, the current situation, in my opinion, does not depend on him at all,” he said, explaining that Sinwar has gotten “stronger.”
Sinwas has also not “weakened, contrary to all the estimations, and was appointed as all-powerful in Hamas. In addition, when he looks at the world, the things he wanted to happen are happening.”
“The axis is rising against Israel, not only the axis, the Western world, the United States is creating situations where Israel is cornered,” Igra added.
“If he [Sinwar] can reach a cessation of hostilities and the continued existence of Hamas in Gaza without having to make a deal… I don’t think it depends on Netanyahu and Israel.
People hold banners as they take part in a rally calling for the release of hostages kidnapped in the deadly October 7 attack on Israel by the Palestinian Islamist group Hamas from Gaza and for support from the U.S., outside the U.S. Embassy in Tel Aviv, Israel March 10, 2024. (credit: CARLOS GARCIA RAWLINS/REUTERS)
‘Only Sinwar decides’
What depends on Israel, Igra noted, is Hamas’s control in Gaza. “As long as it [Israel] does not provide a real governing alternative to Hamas in Gaza, then Hamas is in control, and Sinwar proved this by the very fact that he was appointed head of the political bureau.
“The fact that Israel chose to attack Haniyeh proves that even in the security establishment, they understood that negotiations with Haniyeh are fruitless and that only Sinwar makes the decisions.”
According to Igra, “The prime minister agreed to a horrible deal as far as the State of Israel is concerned, and he agreed to it because of public and international pressure. The deal as it is about to take place means that we will get very few of the hostages back alive, and thus, we will pretty much seal the fate of the rest. We will return Hamas to be sovereign in Gaza. We will strengthen the Palestinian Islamic Jihad in a very significant way.
“We all want the hostages home, but if Israel makes a deal, it will only get a small part of them. Who will save the rest of the hostages who have a family? What can we offer? The only offer we can make is to raise a white flag and surrender to the continued existence of Hamas.”
“The buildup of criticism, frustration, and anger could lead the Palestinian public to rise up strongly against Hamas and hold them accountable,” one official noted.
By AMIR BOHBOTAUGUST 10, 2024 11:25Updated: AUGUST 10, 2024 18:57
Palestinians inspect the site of an Israeli strike on a school sheltering displaced people, amid the Israel-Hamas conflict, in Gaza City, August 10, 2024.(photo credit: REUTERS/Abed Sabah)
As the war in Gaza rages on and the Strip continues to be degraded, Hamas’s once-firm grip on power is visibly slipping. Despite some success in maintaining wealth to fund its activities, its ability to maintain control may be on the clock, even if a hostage deal is implemented and the war is concluded.Al-Shuhada Al-Aqsa Hospital in Deir al-Balah, one of the five hospitals in the Gaza Strip still managed by Hamas’s Health Ministry, has become a refuge for displaced Palestinians seeking shelter and protection from attacks since the start of the war.Over four days last week, Hamas operatives from southern Gaza, including Khan Yunis, who received partial salaries, gathered around it. Indeed, Hamas is making efforts to maintain basic governance in the Palestinian street in Gaza and, against all odds, is managing to evade the security apparatus and get its hands on millions.According to IDF sources, Hamas has robbed banks across the Gaza Strip. The largest sum, however, hundreds of millions of shekels, was stolen from the safes of the Palestine Bank in the Rimal neighborhood, which is considered the most affluent area of Gaza City.The safe in Yahya Sinwar’s hideout, which IDF soldiers reached, was left wide open, as were hideouts of other senior Hamas officials and their families. This provided a glimpse into the vast sums of money circulating in the hands of Hamas’s leadership.
Displaced Palestinians make their way as they flee the eastern part of Khan Younis following an Israeli army evacuation order, amid the Israel-Hamas conflict, in Khan Younis in the southern Gaza Strip August 8, 2024. (credit: REUTERS/Hatem Khaled)
Security officials report that Hamas’s ability to govern in the Gaza Strip has been severely compromised. This is evident in the widespread destruction of authority symbols, buildings, and infrastructure – as well as the targeted pursuit of senior Hamas leaders, including high-ranking bureaucrats.Among them was Dr. Osama Nofal, the recently assassinated director-general of the Economy Ministry, who was killed in an attack in Khan Yunis and was regarded as a key figure within the organization.The targeting of Hamas’s internal security heads and police officers, as well as any activity aimed at preserving Hamas’s rule in Gaza and implementing the organization’s policies on the ground, has also affected the terror organization.
Sinwar’s financial resources remain substantial, largely due to several strategies pushed by Hamas’s field commanders. These tactics go beyond the well-known bank robberies, which Palestinians estimate at around NIS 600 million.According to military sources, Hamas imposes taxes on the private sector and international organizations, both directly and indirectly, on all goods entering the Gaza Strip. This taxation scheme is a significant source of revenue for the organization.Military sources also report that this week, UNRWA representatives in southern Gaza received threatening calls from Hamas operatives. They were told that if they did not route the trucks carrying goods through Deir al-Balah – where Hamas seizes control of the shipments and distributes them to those with influence on the street – the trucks, along with the drivers and goods, would be set on fire.According to estimates of Southern Command sources, over 30,000 trucks have entered Gaza from Israel since the start of the war, with Hamas taxing each one.To enforce this new order, the organization cannot rely on uniformed police officers. Instead, they have turned to urban guerrilla tactics, organizing temporary operatives – some armed with firearms and other weapons – as well as teenagers and children who attack the convoys.“Hamas has become increasingly violent towards its own people, often to the point of losing control,” a source familiar with the situation on the Palestinian street in Gaza explained. “The level of violence comes from their fear of losing power. Hamas doesn’t hesitate to kill civilians, and later, they blame the deaths on alleged cooperation with Israel, as seen in an incident last week in the Bani Suheila area. The public, terrified, just watches and doesn’t intervene.”In one case, a clan did take revenge on Hamas, but it was an isolated incident that ended quickly. The source added, “It’s no coincidence that a message was sent out warning that anyone who crosses Sinwar is doomed. To Hamas, the people are nothing more than merchandise, from top to bottom. The population is so desperate that they keep their heads down.”The second layer of tax collection and order enforcement through violence is managed by old gangs and criminal organizations that have struck deals with Hamas. These agreements allow them to collect taxes and distribute loot, although, at times, things spiral out of control.In the Kerem Shalom area, several Bedouin gangs operate based on clan ties – including the Al-Ghamour, Abu-Khdeid, and Sha’ar families. According to military sources, these gangs loot goods and collect taxes using violence and terror.“In the past, a sack of flour cost $1,000, but today it’s $5 due to the increased supply. So, what is everyone after now? Cigarettes smuggled into the Strip have become a highly sought-after commodity,” the sources explained. “Two and a half packs of cigarettes are now worth as much as the average salary of a junior Hamas operative.”In recent months, dozens of trucks attempting to smuggle cigarettes have been intercepted at the last moment, highlighting the ongoing struggle for control over these lucrative goods.Another method for transferring funds in Gaza is known as “Hawala,” (transfer). This system is typically managed by Gazan money changers who serve as intermediaries between those with goods and those with money.For example, when a Palestinian trader in China sells goods, money is transferred to him and his family in Gaza, and the process works in reverse as well. This method ensures that funds and goods continue to move despite the challenging circumstances.
What drives Hamas mad?
As a result, security officials dismiss the notion that Gaza operates as a closed economy. The longstanding practice of “Hawala” enables business leaders to stay afloat and maintain basic trade in certain areas of Gaza, even under difficult conditions.Hamas leaders are aware that the Palestinian issue has been pushed out of the international spotlight due to events like the upcoming US presidential elections, the Olympic Games, the Ukraine-Russia war, and global economic concerns.
Smoke rises following Israeli strikes, amid the Israel-Hamas conflict, in Khan Younis in the southern Gaza Strip August 8, 2024. (credit: REUTERS/Hatem Khaled)
In response, Hamas’s Information Ministry, one of the most powerful bodies in Gaza, is making efforts to keep the issue relevant. They are issuing daily statements about the humanitarian situation, while also highlighting the routine activities of various ministries.For example, the Economy Ministry focuses on monitoring the prices of basic goods and enforcing the distribution of cooking gas cylinders, especially in central camps.The Interior Ministry is trying to coordinate the exit of patients from Gaza for medical treatment abroad, using the Kerem Shalom crossing after the IDF took control of the Rafah crossing.The Health Ministry is actively disseminating data on the sick, wounded, and dead, as well as the activities of medical institutions. The Agriculture Ministry oversees the entry of agricultural goods from Israel. The Welfare Ministry manages food distribution centers, while the Finance Ministry handles the payment of salaries to officials. Lastly, the Religious Affairs Ministry operates several Sharia courts, mainly in Khan Yunis.The Information Ministry operates several official and unofficial Telegram channels, where one can receive notifications about garbage collection and humanitarian activities, but also venomous propaganda, false messages about Hamas’s activities against the IDF, and efforts to delegitimize Israel.Local Telegram groups within the Gaza Strip, organized by geographic regions, are buzzing with discussions on urgent issues. One of the most heated topics is the “corridor” that the IDF is creating, effectively splitting the Gaza Strip into two parts.According to security sources, this issue is particularly troubling for Hamas. “It’s driving them crazy because the corridor expands every day. Every 24 hours, there are reports of the IDF destroying more buildings and infrastructure, expanding its control over Palestinian territory from the Israeli border to the sea. This forces more of the population to move from north to south, thinning out the Palestinian presence in the northern part of the Strip,” the sources explained.Hamas is especially concerned that Israel might soon announce the re-establishment of settlements like Elei Sinai, Nisanit, and Dugit in the Strip. “This is driving them mad, particularly the Hamas members. The sight of Israeli flags is deeply unsettling for them,” the security sources added.Another hot topic in the Telegram groups is the killing of Palestinian “raiders” who participated in the October 7 raid on Israeli territory. These individuals include Hamas Nukhba operatives, Hamas activists, members of other organizations, and civilians who looted, murdered, raped, and kidnapped during the attack.The Shin Bet has created an “open account list” targeting all those involved in the events of October 7. In addition, an “invisible hand” is circulating weekly reports on social media, naming those involved.For example, in the past week, 17 “raiders” were eliminated from the air by the IDF and the Shin Bet, which is responsible for maintaining the list and locating these individuals within the Gaza Strip.These targeted eliminations highlight the Shin Bet’s deep operational capabilities in the area, supported by a network of agents who provide precise intelligence. This intelligence not only identifies those who participated in the massacre but also those currently forming new cells to join Hamas’s military wing.Intelligence sources monitoring the situation in Gaza report that the traditional clan structure has largely disintegrated and lost its significance, as families have scattered among various shelters. The breakdown of the family unit is evident, with teenagers often sleeping in one location while parents and daughters are in another.Family authority has weakened, as Hamas has been able to recruit individuals for civil and military activities against the IDF by offering money, food, or cigarettes in return.Families that have managed to maintain some level of stability, despite the ongoing security and civil challenges, are keeping their expenses to a minimum. Most of them lack employment and rely heavily on donations to survive.The good neighborly relations that existed before October 7 are now in question. With the collapse of Hamas governance, law, and order in many areas, the environment has become one where it’s every person for himself, and only the strong manage to survive.“Unlike in the past, there are far fewer checkpoints, because the IDF attacks them from the ground and the air, not allowing armed men to move through the streets or secure routes,” a security source explained, adding, that “there are quite a few new social phenomena.Fewer weddings. Education? Only if there are very limited local initiatives, at most there are classes of 10 students in open areas, and they are usually religious lessons.Mass prayers no longer take place, except in rare cases on Fridays. There are almost no mourning tents because they can’t keep up with the pace of the deaths. They settle for central burial sites.”Despite the use by Hamas of terror and urban guerrilla tactics, recruitment of new activists, including teenagers and even children, security officials believe that a long ceasefire, especially if tied to an agreement for the release of hostages, could spark a violent uprising among the Palestinian population against the Hamas leadership.“The buildup of criticism, frustration, and anger could lead the Palestinian public to rise up strongly against Hamas and hold them accountable,” one official noted.“As long as the fighting continues and the IDF is attacking, Hamas can blame the ‘Israeli enemy.’ But if a ceasefire lasts for an extended period, people will return to their destroyed homes, be in shock, and won’t be satisfied with just tears and hard questions. They will demand accountability.”The official further explained that “the last large protests were in February, but they were violently suppressed by Hamas. The longer this situation drags on, the less control Hamas will have over the street.”
END
IDF strikes senior Hamas commander Walid al-Sousi in Gaza
Al-Sousi was involved in managing Hamas intelligence and crushing resistance to the regime.
The IDF announced that it killed senior Hamas commander Walid al-Sousi in Gaza on Friday night.
Al-Sousi was head of Hamas’s General Security Apparatus in the Southern Gaza Strip. He was involved in managing intelligence and crushing resistance to the regime.
He was eliminated by Israel Air Force jets and the Israeli Military Intelligence Directorate.
An IDF soldier fires off a weapon in the Gaza Strip, 10 August, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Continued raids in Rafah
Additionally, Paratrooper Brigade combat teams conducted raids in southern Gaza on targets.
During the raids, the IDF killed dozens of terrorists and destroyed terrorist infrastructure.
Furthermore, in the area of Rafah, Nahal Brigade troops killed several terrorists and discovered weapons in several residential houses.
Aircrafts attacked terrorists who were spotted spying on IDF soldiers in the field and posed a threat to the forces
end
‘Traders in our blood’: Gazan pleads to be saved from Hamas ‘before the Jews’
Palestinians have increasingly spoken out against the Hamas terrorists running the Gaza Strip.
Remains of destroyed buildings in Gaza, amid the ongoing conflict between Hamas and Israel, are pictured through the Egypt-Gaza border, in Rafah, Egypt, July 4, 2024.(photo credit: AMR ALFIKY/ REUTERS)
Displaced Gazans have begun begging for allies to save them from Hamas amid the ongoing war between Israel and the Hamas terror group ruling the enclave, Saudi media reported on Friday.
“Save us from Hamas before the Jews. I appeal to every living conscience to watch. These are traders in our blood. Every day they trade in our blood,” one Palestinian pled in a video that has gone viral, the Saudi Al Marsd reported.
“Our children and women are in the streets. Oh, conscience of the world, save us from Hamas before the Jews,” he continued.
The man had been displaced on Friday from Khan Yunis, Walla reported.
Anti-Hamas dissidents in Gaza
Some Palestinians have spoken out against Hamas as well as the actions the group has taken to maximize the war’s impact on civilian populations.
PALESTINIAN FARMER Youssef Abu Rabie works in a field growing seedlings to combat food shortages, amid the ongoing conflict between Israel and Hamas, in Beit Lahia in the northern Gaza Strip, last month. (credit: Mahmoud Issa/Reuters)
Hamas has been accused of stealing humanitarian aid destined for civilians and, in July, was recorded beating hungry Gazans attempting to access resources from a warehouse.
Terrorists were recorded beating a restrained and blindfolded civilian with sticks.
Despite polls showing widespread support for the terror group, Arab media outlets like the Qatari state-owned Al Jazeera network have been caught censoring criticism of the group.
In June, Al Jazeera was caught cutting short the statement of a Gazan doctor wounded in Operation Arnon, where four hostages were rescued from captivity. An uncut clip of the doctor, which went unpublished by Al Jazeera, referred to the “rotten [Hamas] leadership” as “scum” and blamed them for the civilian casualties incurred during the operation.
“This rotten leadership will end up blaming us that we… it is true that we are steadfast. However, our leadership is scum. Our leadership got used to this bloodshed. May Allah reckon with them!… Swear to me that this video will reach the Palestinian leadership. This massacre at Nuseirat – we could have prevented it!” the doctor said.
In another recorded incident in November, an Al Jazeera journalist cut short an interview with a patient at a Gazan hospital who criticized Hamas.
“Why are the members of the organization hiding among the citizens?” the Gazan asked before Al Jazeera ended the interview.
Disputed footage from January also suggested that Gazans, ‘Bidna N’eesh’ (‘We want to live’), had attempted to protest against Hamas in the Gaza Strip.
Dr. Baxtiyar Baram, a Kurdish physician who volunteered in northern Gaza, told the Kurdish site Rudaw that Hamas refused Palestinians medical treatment if they were disliked and claimed only 10% of the population supported the terror group.
Ohad Merlin and Seth Frantzman contributed to this report.
END
ISRAEL/HEZBOLLAH
Hezbollah’s Radwan Force capable of infiltrating Israeli border – IDF officials
“Anyone who thinks that Hezbollah isn’t training to infiltrate a squad of fighters into Israeli territory is mistaken,” officers said.
By AMIR BOHBOTAUGUST 12, 2024 09:42Updated: AUGUST 12, 2024 14:16
Members of Hezbollah attend the funeral of Wissam Tawil, a commander of Hezbollah’s elite Radwan forces who according to Lebanese security sources was killed during an Israeli strike on south Lebanon, in Khirbet Silem, Lebanon, January 9, 2024.(photo credit: REUTERS/AZIZ TAHER)
While the Israeli home front awaits a response from the Iranian-led axis, potentially involving an extreme barrage of rockets, various types of missiles, and drones, officers in the Northern Command warn that the threat of a ground infiltration into communities along the northern border remains.
According to the officers, contrary to popular belief, Hezbollah’s Radwan Force is still capable of launching an organized attack on the border, including efforts to penetrate a community or military post.
“Why hasn’t Hezbollah done this yet? Because they have chosen not to. But anyone who thinks that Hezbollah isn’t training to infiltrate a squad of fighters into Israeli territory is mistaken,” officers said.
“The working assumption for everyone should be that Hezbollah is capable of infiltrating, planting a flag in a community or an IDF post on the border, and burning several buildings. For them, this could be seen as a victory. We must not forget that this is a terrorist organization. Such an action could impact the entire region and terrorize the residents of the region,” they added.
According to these officers, the last month has proven that Hezbollah continues to operate observers and a forward force of the Radwan unit in the border area, aiming to prepare for continued fighting with the IDF. This activity has caused the terrorist organization significant losses, as the IDF has managed to eliminate more than 400 Hezbollah operatives over ten months of fighting.
Firefighters work to extinguish wildfires following a missile attack from Lebanon which fell on the Israeli-Syrian border, Valley of Tears, Golan Heights, on July 20, 2024. (credit: MICHAL GILADI/FLASH90)
Radwan Force infrastructure damaged
Security officials estimated in a conversation with Walla that while the IDF has indeed significantly damaged the infrastructure of the Radwan Force near the border, thereby reducing its ability to conduct a large-scale surprise infiltration into Israeli territory, Hezbollah has not abandoned its intention to respond to the assassination of Hezbollah commander Fuad Shukr.
Instead, officials are analyzing the Israeli side, seeking a military response that is severe on one hand but won’t escalate the region into war on the other.
ISRAEL/IRAN/
Iran’s New President Battling IRGC Hardliners Over Tempering Response To Israel: Telegraph
FRIDAY, AUG 09, 2024 – 06:00 PM
While Western mainstream media in general has a terrible record of reporting on Iran and its intentions, a fresh report in The Telegraph comes to an interesting conclusion concerning the prospect of major war breaking out with Israel.
It claims that there is an ongoing severe internal split among Iran’s top decision-makers on how to respond to Israel’s killing of Hamas leader Ismail Haniyeh in Tehran last month. Well over a week after the July 31st assassination, and the ballistic missiles have still been held back, despite several vows of severe retaliation against Israel being issued from Iranian leadership.
New Iranian president Masoud Pezeshkian is said to be fighting hardliners especially within the military establishment, specifically leaders of Iran’s Islamic Revolutionary Guard Corps (IRGC), over the extent of a response. Pezeshkian reportedly wants a toned down and limited response, akin to the April 13th missile and drone attack on Israel – which was something highly telegraphed and thus averted all-out war. The IRGC is ready to launch a much bigger operation, the report says.
Pezeshkian, widely viewed as a ‘moderate’, wants to strike hidden Mossad spy bases in the region, while IRGC generals have pressed for more aggressive retaliation which is direct in nature, The Telegraph says. According to the publication’s sources within the Iranian government:
“These recent [military]exercises in the country’s western border are just to intimidate Mr Pezeshkian. Sepah [the IRGC] is very insistent on targeting Israel and they think it is easy,” a second aide to Mr Pezeshkian told The Telegraph.
“He has suggested targeting somewhere related to Israel in the Republic of Azerbaijan or [Iraqi] Kurdistan and let these countries know before that and get done with the whole drama.”
The Telegraph report further paints a picture of a somewhat rogue IRGC leadership which has by and large dismissed the newly installed president as too weak.
The IRGC is directly answerable to Supreme Leader Ali Khamenei, so if this is accurate it means there is currently some distance between the Ayatollah and Pezeshkian’s office as well.
The UK-based report says an IRGC official has conveyed: “The number one consideration is still striking Tel Aviv with Hezbollah and others at the same time.” The official is further cited as saying, “There has been discussion within the forces on how to block Mr. Pezeshkian’s efforts. Almost everyone believes what he is insisting on is not in the revolution’s reputation.”
#BREAKING: Is Iran bluffing? U.S. Secretary of State, told Members of the G7 during a Conference Call last tonight, that Iran could launch an Attack against Israel in the next 24-48 Hours but all Iran has done so far is air war propaganda videos, threaten that they have nuclear weapons, and claim that they will rain missiles down on Israel. Still Joe Biden will speak today with King Abdullah II of Jordan, before convening a meeting of his National Security Council in the White House Situation Room, to “discuss the ongoing Situation in the Middle East, with the possibility of Iranian Attack against Israel.” And yesterday massive crowds of foreign nationals gathered at Rafic Hariri International airport in Beirut, trying to get on any Flight out of the Country; as Embassies continue to tell their Citizens to Immediately Depart from Lebanon due to the possibility of War between Hezbollah and Israel. Follow my free Newsletter for more detailed articles: http://wesleymarius.substack.com
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But again, whether the report detailing this alleged back-and-forth between moderate and conservative factions within Iran over how to respond to Israel is accurate remains an open question.
ISRAEL//IRAN
Israel Says Iran Poised For Major Retaliation; US Deploys Sub, Hurries Carrier Group
MONDAY, AUG 12, 2024 – 08:25 AM
In a major shift in its recent assessment of Iran’s intentions, Israeli intelligence reportedly now believes that Iran is preparing a major strike on Israel after all — and that it will happen in the next few days. This comes after Israel had concluded that international pressure and US saber-rattling had persuaded Iran to leave it to Lebanese militant group Hezbollah to strike Israel for blowing up Hamas political leader Ismail Haniyeh in Tehran on July 31.
Israeli Defense Minister Yoav Gallant shared his country’s latest assessment with US Secretary of State Lloyd Austin in a Sunday conversation, Axios reported — telling Austin that Iranian actions signify the country is readying a major strike. Also on Sunday, Gallant told an Israeli Defense Forces unit that Iran and Hezbollah “are threatening to harm us in a way they haven’t done in the past.”
Israeli intelligence’s see-sawing assessment reflects an ongoing debate inside the Iranian government, a source with access to the intelligence told Axios:
The Iranian Revolutionary Guards Corps [IRGC] is pushing for a more severe and broader response than Iran’s April 13 attack on Israel, but the new Iranian president and his advisers believe a regional escalation now wouldn’t serve Iran’s interests, the source said.
A Pentagon spokesman said Austin assured Gallant that America is committed “to take every possible step to defend Israel and noted the strengthening of U.S. military force posture and capabilities throughout the Middle East in light of escalating regional tensions.”
The strengthening of the US force posture included the deployment of the USS Georgia guided missile submarine to the Central Command theater. Armed with up to 154 Tomahawk land-attack cruise missiles, the Kings Bay, Georgia-based vessel recently completed joint training exercises in the Mediterranean with force recon Marines and special operations forces, including units from the UK, Norway and Italy. Austin also ordered the USS Abraham Lincoln carrier strike group, already steaming to the conflict zone laden with F-35C and F/A-18 fighters, to “accelerate its transit“, the Pentagon said.
See how all this works? Israel provokes Iran with a sensational violation of its sovereignty, and then the US government spends untold millions of dollars to protect Israel from the ensuing response — while putting in harm’s way service members who’ve who’ve been led to believe it’s a way of serving their country.
Israel ‘very close to regional war,’ former IDF general says amid Iran threat
“It is clear that this is heading towards a more serious escalation,” Ziv noted, adding, “I don’t think any of us really know […] what exactly the Iranians and Hezbollah intend to do.
By WALLA!AUGUST 12, 2024 10:38Updated: AUGUST 12, 2024 11:17
Firefighters work to extinguish wildfires following drone attack from Lebanon in the Golan Heights, on August 6, 2024.(photo credit: MICHAEL GILADI/FLASH90)
“We are on the escalation line at the point where it is really very close to a regional war,” Major-General (res.) Israel Ziv said in a conversation with radio 103FM on Monday, amid the heightened tensions with Hezbollah and Iran.
“Somehow, the scope of the fire and the intensity is kept at a certain level that Israel manages to cope with, even though the prices of what is happening in the North, the political and economic prices are quite high.
“It is clear that this is heading towards a more serious escalation,” Ziv noted, adding, “I don’t think any of us really know, even within the [security] system, what exactly the Iranians and Hezbollah intend to do.”
With regard to the IDF’s operation in Gaza, Ziv said, “There are very significant achievements that the IDF and the State of Israel have made. Gaza has gone back 30-40 years.”
However, he added, “It has reached a point where the efficiency starts to decrease because there is a re-recovery. That’s why you go back there every time. Now, we are in the process of preventing regeneration. There is a higher goal—to return the hostages.”
IDF troops operate in the Gaza Strip. August 11, 2024. (credit: IDF SPOKESPERSON’S UNIT)
Ziv also discussed the hostage deal summit expected to take place on Thursday, noting, “Hamas said they gave their consent. They accepted the outline that Biden proposed on the basis of Netanyahu. The one who introduced the changes is the State of Israel.”
Hostage deal
“Hamas is signaling that it is ready to go to a ceasefire. In this regard, Israel can even raise other, more distant demands, not only in the context of aid. For all this, US President Joe Biden says that he is giving a last chance. They are already in the middle of the election. He would be happy not to have to take care of it.
“This chance is also a good starting point for Israel and also prevents everything we mentioned as a possibility for escalation. Israel has much more to gain in reaching exactly this intersection as an opportunity and not as a political risk.”
Regarding the objections within the coalition, he said, “Who is it coming from? From the expert Smotrich, who destroyed the economy here? Where is his cabinet? Your recovery is about to fall apart. What are we talking about?”.
Regarding the public diplomacy front, Ziv said, “Israel is already at a much lower level of legitimacy. The motivation to help out of a crisis of confidence, especially in front of the prime minister, is great.
end
RUSSIA/UKRAINE
Putin Said To Be Stunned By Ukraine’s Shock Attacks On Kursk & Lipetsk
FRIDAY, AUG 09, 2024 – 05:20 PM
In addition to the ongoing Ukrainian cross-border offensive in Russia’s Kursk region, Russia has been hit hard by a “massive attack” of drones Thursday and Friday, Lipetsk’s regional governor has said Friday.
The chief target appears to have been a nearby airfield. “The enemy is hitting civilians in Kursk and Belgorod,” Gov. Igor Artamonov wrote on Telegram. “Today [it] massively attacked our region with drones. We will not be frightened, we will not give in, but we are not going to risk the lives of our people either.”
The Ukrainian National News agency hasclaimed that some 700 guided bombs were destroyed in the strike on Lipetsk airfield. Russia’s defense ministry subsequently said it intercepted at least 75 “aircraft-type” drones in the southern region, and others were sent over Crimea and the Black Sea. The Skhemy investigative project of US state-funded Radio Liberty has circulated the following before and after satellite images of the airfield…
Thousands of civilians were already evacuated in Kursk, which has seen intense battles over the past four days of what appears an outright Ukrainian invasion attempt; and on Friday at least hundreds have been evacuated in western Lipetsk. Several villages have been emptied out amid a state of emergency.
New reporting by a source which claims to have an insider’s view on the Kremlin’s halls of power says President Putin and his top officials were caught off guard and stunned by these developments:
Ukraine’s surprise incursion into Russia’s Kursk and Lipetsk border regions has stunned the Russian military and come as a “slap in the face” to President Vladimir Putin personally, four Russian officials told Politika.Kozlov.
The ongoing offensive, which Russia has failed to repel for three days, has exposed Russia’s territorial defense shortcomings and undermined Putin’s propaganda coup as the rescuer of an FSB hitman and failed Russian spies in last week’s prisoner swap with the West.
“The chief [Putin] was in a poor mood… He probably hasn’t been seen like this since our [Russian army] was forced to retreat from Kherson in the fall of 2022,” said an official involved in preparing Kremlin events involving Putin.
The official, along with Politika.Kozlov’s other sources, spoke on condition of anonymity due to the sensitivity of the topic.
Putin’s appearance and facial expressions during his public appearances on Wednesday and Thursday indicated that he was “dissatisfied” and “annoyed” with the situation, several Russian officials who have known Putin personally for years told Politika.Kozlov.
This also comes as images and videos widely circulate which point to serious Russian troop losses in these cross-border attacks on Kursk and Lipetsk.
Ukraine forces have also filmed themselves in possession of Gazprom natural gas facility in Sudzha…
⚡Ukrainian media outlets publish video showing Ukrainian soldiers saying they control Gazprom facility in Sudzha in Russia's Kursk region pic.twitter.com/YhGEbmJ5oB
Pro-Russian military bloggers have acknowledged the authenticity of many of these videos, and the troop losses which they reveal:
A video that surfaced online appears to show bodies on burnt-out Russian military trucks in the country’s southwestern Kursk region, the latest sign that Ukraine’s cross-border assault is probing more deeply and inflicting significant damage on Moscow’s troops.
In the daytime video – shared by Russian military bloggers and independent outlets, and geolocated by CNN – about a dozen trucks are seen on the side of a road in the village of Oktyabrskoye, about 8 kilometers (5 miles) east of the town of Rylsk, appearing to contain dozens of dead bodies.
…The video, which a Russian military blogger says shows the aftermath of a Ukrainian strike Thursday night, comes three days after Kyiv shifted tactics with a surprise incursion into Russian territory.
Despite these attempts of Ukrainian forces to capture territoryinside Russia being essentially a suicide mission, Kiev is spiking the proverbial football and is seizing the moment to lobby for even more muscular Western military support.
Mykhailo Podolyak, an adviser to Zelensky, claimed that most of Ukraine’s Western allies “quietly approve” of the cross-border action.
Podolyak has praised the West’s reaction to the surprise assault as being “absolutely calm, balanced, objective, and based on an understanding of the spirit of international law and the principles of defensive warfare.” He added: “Now, a significant part of the global community considers [Russia] a legitimate target for any operations and types of weapons.”
end
RUSSIA/UKRAINE MONDAY
Putin Says There Will Be No Peace Talks With Ukraine As 180,000 Citizens Evacuated Amid Invasion
MONDAY, AUG 12, 2024 – 02:40 PM
Ukraine’s brazen and high risk cross-border ground incursion into Russia’s Kursk region is nearly one week in, with Russian forces still fighting off the invaders, and Kiev confirming in a fresh statement that the “offensive operation” is continuing.
Russian emergency authorities are evacuated an astounding 180,000 citizens from border regions where fighting has encroached. An official briefing delivered to President Putin on the situation on Monday has revealed that this shock Ukraine offensive is bigger and more expansive and devastating than previously believed.
“Ukraine’s military has taken control of 28 towns and villages in Russia’s Kursk border region, prompting a sixth of its population to flee the incursion, the acting regional governor told President Vladimir Putin,” Bloomberg writes of official statements. But it remains that along the front lines inside eastern Ukraine, Russian forces are still advancing, with RIA stating “Russia takes control of the settlement of Lyscychne in Ukraine.”
Ukraine is now claiming that its forces hold 1,000 square kilometers of Russian territory, a Monday statement from its defense ministry said. According to more from Bloomberg, Russian officials have admitted that a sizeable chunk of Russian territory is in a state of emergency:
More than 120,000 people have left their homes and about 60,000 more are waiting to be evacuated, Alexey Smirnov told Putin and Russia’s top security officials during a televised meeting on Monday. Ukrainian forces have penetrated at least 12 kilometers (7.5 miles) into Russia and control a border area at least 40 kilometers wide, though there’s “no clear understanding” of where their troops are, he said.
President Putin has issued his first detailed public statements since the incursion began. One thing he stressed in the Monday remarks is that now there will be no peace talks or settlement with Kiev.
“It is now clear why the Kiev regime refused our proposals to return to the plan for peaceful settlement,” Putin said. “The enemy, with the help of its Western masters – it is doing their bidding, and the West is waging war against us using Ukrainians… seeks to improve its negotiating position in the future.”
“But what kind of negotiations can we even talk about with people who indiscriminately strike civilians, civilian infrastructure or try to create threats to nuclear power facilities,” the Russian leader added.. “What can we even talk about with them?”
This latter part was in reference to the somewhat mysterious drama happening Sunday at the Zaporizhzhia nuclear power plant, where a fire appeared to break out, which was then used by President Zelensky to hype the threat of looming nuclear disaster. But the UN’s IAEA has since said the incident, which may have simply involved tires being set alight at the complex, has had no impact on nuclear safety.
JUST IN: 🇷🇺 🇺🇦 Russian President Putin says there will be no more peace talks with Ukraine.
"What is there to even talk about with those who attack civilians and nuclear facilities?" pic.twitter.com/uugF3zQO9b
As for the latest developments on Russia’s efforts to push back the southern invasion, the Kremlin has issued the following figures:
Hospitals have admitted 69 people that were injured in Ukrainian shelling of the Kursk Region,
17 are in serious condition.
Ukraine has lost up to 1,350 troops,
Ukraine has lost 29 tanks and 23 armored personnel carriers since the start
And below are some of the last developments in the last hours via Al Jazeera:
New evacuation orders have been issued in Russia’s Belgorod and Kursk regions amid Ukraine’s cross-border incursion.
Ukraine’s State Security Service (SBU) says that Russia is trying to falsely accuse Kyiv’s military of war crimes.
Kursk’s governor, Alexei Smirnov, says the total civilian death toll from Ukraine’s incursion into Russia’s Kursk region has reached 12.
Russian President Vladimir Putin says that Ukraine is trying to undermine Russian stability with its incursion into the south of the country, but it will not succeed.
Russia says it has repelled seven Ukrainian attacks in Kursk launched by Ukraine’s 80th and 82nd airborne assault brigades in the past 24 hours.
A Ukrainian deputy energy minister accused of taking a bribe worth half a million dollars has been arrested along with three alleged accomplices, according to the Security Service of Ukraine (SBU).
Amid ongoing speculation as to what Zelensky ultimately hopes to get out of this Kursk operation, Ukrainian Defense Minister Rustem Umerov has been in phone calls with Western counterparts, urging NATO countries to lift their prior bans on Western weapons being used to attack inside Russia.
The internationalization of this proxy war is growing…
Escalation without diplomacy: – NATO is backing deep strikes into Russia and the invasion of Russia (Kursk). It is not possible to criticise Zelensky even as he attacks the Zaporizhya nuclear power plants and use openly Nazi brigades to target civilians – On the Russian side,… pic.twitter.com/PKxSbCJwtI
Russian leadership is viewing with increased dismay surprising scenes like the following…
Ukrainian soldiers from the 225th Separate Assault Battalion ripping down the Russian tricolor on the administrative building in Daryino, Kursk region. pic.twitter.com/dsBB0zgR64
In May the French Presidency’s office stipulated that Western weapons could be used only on locations “from which the missiles are fired” and “not other civilian or military targets.” But now it has become clear that Ukraine hopes to strike deeper into Russia with NATO-supplied long range missiles.
This would mark an ultra-dangerous turning point in the war, which the Kremlin might consider an ‘existential threat’ to the nation, triggering deployment of strategic forces. Already Western-supplied armored vehicles have been spotted among Ukraine’s invasion force.
RUSSIA/USA
ROBERT h
The reality of failing interests
“Recall what the SMO standard tactic has been for over 2 years.
Allow the attack to form, allow the attack to proceed.
Catch the front spear and stop it. Missile and air strike the rear and shred the attacking columns.
The Russians allowed the attack so it could attenuate, they stopped it and hit the rear, cutting off the first echelon from any second or third. Destroyed the command Hq with Iskanders, killing 15 commanding officers, and set their elite killer special forces, Akhmat, ex-Wagner and the Donetsk group on the attackers now cut off and diced into small DRG-marauder groups hiding in houses and tree-lines and narrow forest bands.
They have killed most all the first echelon and destroyed most all the whole damn grouping’s vehicles and armor. In some places, it is a turkey shoot for drones and bombers and helos.
By announcing the CTO districts, they have labelled all the Ukies as terrorists and they will have no sanctuary or respite. This also changes the relationship with any one in Kiev. Ukraine is legally going to be marked as a terror organization, no longer a nation-state.
Putin has been waiting for this. They delivered it on a silver platter.”
The gloves will now come off. And the folly of wasting money on a failed project will soon enough be evident.
end
RUSSIA/UKRAINE
Russia Begins Heavy Retaliation On Ukrainian Capital As Zelensky Breaks Silence On Kursk Invasion
SUNDAY, AUG 11, 2024 – 09:55 AM
Now in the sixth day of the Kursk invasion, Ukraine’s President Volodymyr Zelensky explained the following on Sunday, breaking his silence and giving his first official confirmation of the daring cross-border ground operation, “Today, I received several reports from Commander-in-Chief Syrskyii regarding the front lines and our actions to push the war onto the aggressor’s territory.” He added: “Ukraine is proving that it can indeed restore justice and ensure the necessary pressure on the aggressor.”
On the same day Russia’s Foreign Ministry has vowed, “A tough response from the Russian army will not be long in coming.” But that response appears to have already begun overnight and into Sunday, as the capital of Kiev has come under heavy missile attack. Missiles did not reach the center of the city, but the suburbs were impacted.
The Associated Press has described that at least four ballistic missiles slammed into the capital region along with 57 Shahed drones sent, citing Ukraine’s air force, which also said its air defenses intercepted 53 of the drones.
Zelensky has alleged that as part of the aerial assault, Russia used a North Korean ballistic missile. “According to preliminary information, the Russians used a North Korean missile in this attack – yet another deliberate terrorist strike against Ukraine,” Zelensky stated on social media. “Pyrotechnic experts are still working to determine the exact data regarding this missile,” he added.
The US Ambassador to Ukraine Bridget Brink has condemned the new Russian aerial assault, saying it killed a man and his four-year old boy.
Air alerts and explosions sounded all night around Kyiv as Russia launched multiple missile attacks, killing a man and his 4-year-old son. A terrible reminder that Russia has not stopped its illegal invasion of Ukraine’s sovereign territory and its bombing of peaceful civilians.
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29.4K Views
Air alerts and explosions sounded all night around Kyiv as Russia launched multiple missile attacks, killing a man and his 4-year-old son. A terrible reminder that Russia has not stopped its illegal invasion of Ukraine’s sovereign territory and its bombing of peaceful civilians. pic.twitter.com/Sj782XuafZ
As has been the pattern after any major air assault by Russia, Zelensky pressed his Western allies for more immediate defense equipment to defend the skies. He urged that “to really stop Russian terror, we need not only a full-fledged air shield that will protect all our cities and communities, but also strong decisions from partners — decisions that will remove restrictions on our defensive actions.”
This reference to “strong decisions” is clearly an appeal for Western militaries to get more directly involved.
Some analysts view this ongoing Kursk cross-border offensive as a last-ditch and desperate ploy to force an escalation so that the US and NATO will more directly intervene, or else to gain leverage. Others say this is all PR-driven and that Ukrainian troops are being sacrificed in what’s essentially a suicide mission for propaganda purposes and as but a temporary blow to Kremlin morale…
It also appears a distraction of sorts from the front lines, where Ukraine is fairing poorly and having serious manpower problems. It might be forcing Russia to relocate reservists from the Donbass region as well in order to urgently protect its borders.
Ukraine has continued sending drones and missiles into Russian territory, with one reportedly hitting a building in Kursk on Sunday, wounding 13 according to local sources.
BREAKING:
The Ukrainian Army has struck and destroyed a Russian convoy of trucks carrying T-80 tanks into the battle zone near Korenovo in the Kursk region of Russia.
Meanwhile, the world is witnessing Russia fight a war to repel invaders on its own territory in the southern region, with state media describing a Ukrainian command and control center having been destroyed in the Kursk region:
A missile strike has destroyed a Ukrainian command-and-control center in Russia’s Kursk Region, the Defense Ministry in Moscow has claimed, releasing video of the strike. Ukrainian forces launched a large-scale incursion into the border region earlier this week.
Ukraine sent tanks into Kursk, which Russia is taking out via airstrikes…
Many tens of thousands of Russian citizens have been evacuated from several border regions – with Russian sources acknowledging some 80,000 have fled in buses, trains, and cars. A formal “state of emergency” has persisted as Russia pours droops and security forces into the Kursk region to restore order.
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
Robert H to us:
Honest/Ethical/Safe Dr) David Cartland on X:
“This man was on that plane! He discovered a way to program regulatory T-cells to attack tumors. A huge breakthrough. – It showed 90% remission in the lab. – They’re moving to animal trials. – If it works, it basically ends cancer. And his plane just exploded. Dr. Leo Ferreira https://t.co/EHrLOY2FKv” / X
male anus penis abrasive hitting slapping bumping aggressive sex contact, then no problem, monkey is a gay infection, no matter what WHO, CDC, Health Canada, PHAC, FDA says! tell gay men
Alexander MAGA Trump news; fake PCR created non-pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
and bisexuals and trannies to be monogamous for a change, no 100 sex partners, no oral sex, no abrasive physical violent sex, no busting of warts and pustules on each others anuses and penis and bodies, just behave now…one sex partner and in fact, none for 6 months…no bath houses with Obama or Big Mike…stop…refrain…if your wife is monogamous as she is, low risk as she is….faithful to you, please do not mislead and harm the lady by engaging in bisexual shit…then please end the relationship…else you will take that monkey pox situation to her and hurt her…
You have to understand, it is when gay and bisexual, tranny, especially bisexual males lie to and deceive their monogamous partners, e.g. heterosexual wives or partners….you see she is monogamous heterosexual and she thought he was, but he was a bastard freak pervert sexing with gay and bisexual males and all sorts of high-risk behaviors e.g. injecting drug use, sharing drug-injecting equipment etc. taking home all sorts of filth to her…this is how HIV expanded into some of the heterosexual none-gay population…it was never a hetero-sexual issue as is this monkey-pox.
There is and will be NO, zero, H5N1 etc. bird flu pandemic, this is just fear-porn now to drive you to take more Malone Weissman Kariko et al. mRNA technology mRNA vaccine…to lock you down…no monkey-pox pandemic (except will be confined to the gay community UNLESS gays, bisexuals, trannies etc. behave high-risk and expand it out into the low-risk heterosexual populations by misleading and lying to partners as to their gay and bisexual bath house drug use hidden life styles) and no more COVID…its done, over…no need for any Malone Bancel Bourla mRNA technology gene vaccine in anyone, no child, not even elderly…
see my guidance below…
don’t talk condom shit with me to reduce your monkey-pox risk if gay/homosexual…not for this…no ‘safe sex’ shit. we want ‘no sex’ shit.
If you are heterosexual or engage in no sex and do not physically interact with gay or bisexual folk, you have no issue and of course, if you see pustules on your homie teaming with pus and liquid, don’t go having no physical contact with those people…
see my video:
Ok, my view out of the gate:
Again, public health has failed because of taboo, woke madness, and not wanting to hurt GAY male feelings and impact the politics, the votes…but I speak my mind:
GAY and bisexual males, men who have multiple sex partners and engage in rough, skin to skin penis-anal sex and biting and tearing etc. given there are micro tears on the penis shaft and anus due to the type of skin-to-skin sexual intimacy gay males/bisexual males engage in must:
1)have no, I mean NO sex for 2-3 months to get this infection to burn out, this must be simultaneous across GAY communities in North America, Europe etc.
2)GAY males, bisexual males, men who engage in high-risk intimate behaviors and sharing of needles etc. must not have multiple sex partners for 3 months, confining themselves to one monogamous partner
3)no skin to skin contact of any sort among gay, bisexual community, trannies…
4)ensuring pustules, blisters on the penis, on and around the anus do not rupture for the content is highly infectious and function to spread MP
5)no sharing of sexual intimacy paraphernalia among gay, bisexual community, trannies…
6)enacting of acute surveillance contact tracing
7)IMO if the pathogen is starved of hosts, so NO sex contact or no multiple partners, then it can burn out without the need for a vaccine
8)enhanced routine public health service messages (PSAs) to the GAY/bisexual high-risk community
9)No boosters at this time given the vaccine has failed in the target group; I think the focus has to be on PSAs, acute surveillance, contact tracing, and eliminating multiple sex partners. No sex contact especially if symptoms become visible etc.
What Igor is saying is basically what we have seen with the fraud deadly ineffective mRNA technology mRNA vaccine for COVID (technology inventors and vaccine developers Malone, Bourla, Bancel, Weissman, Tureci, Sahin, Kariko et al.).
You are using a vaccine that is ineffective and does not sterilize the pathogen and in short, you are underestimating the evolutionary capacity of the pathogen to evolve and adapt. The vaccine failed and like the mRNA vaccine, vaccine induced antibodies fell or ‘waned’ rapidly soon after administration, offering limited protection if any. Igor:
“A recent study found that the vaccine-elicited antibodies among most of those who had no smallpox vaccine in childhood (so anyone under 50) wane to undetectable levels after just one year.”
It seems that if you had the smallpox vaccine as a child, that is those of us above 50 years or so, then in those gay and bisexual males (high-risk), then there was protection at some level.
‘Out of the 118 vaccine recipients, 36 (30%) returned for the 1-year follow-up visit. Among individuals without pre-existing immunity, 14/21 (67%) had undetectable levels of VACV IgG and a 10.7-fold decrease in VACV IgG GMT (geometric mean, a standard measurement for antibody levels) was observed compared to the last time point after vaccination in 2022 (4 weeks after the second dose) (Figure 1 full abstract).
In contrast, among individuals with childhood smallpox vaccination, only one participant out of 15 (7%) had undetectable VACV IgG after one year, and the GMT reduction between 4 weeks after the last vaccine dose in 2022 and the one-year follow-up visit was 2.5-fold for those vaccinated with two doses of MVA-BN, and 1.9-fold for those vaccinated with one dose of MVA-BN.
The authors say: “A rapid decline in VACV-specific IgG antibodies was observed one year after MVA-BN vaccination, leading to loss of detectable antibodies in 42% (15/36) of the participants. This reduction was most pronounced in individuals without pre-existing immunity. As the mechanism of protection for mpox remains undefined, the implications of waning antibody levels for conferring protection remain uncertain.”’
But the idiots and morons are talking boosters when the vaccine itself has failed. They would do as has been done with COVID with completely failed mismatched boosters e.g. BA4/BA5 bi-valent boosters, XBB1.5 boosters etc., that is, drive selection pressure too and thus emergence of more virulent strains. This can be catastrophic to the GAY/bisexual/community.
Igor:
‘So, we may see more surprises as the mpox pandemic morphs into a more virulent subtype, infecting populations with waned Jynneos vaccine immunity who were immunized against the less virulent clade. If that happens, the groups vulnerable to infection might see much worse mortality than they experienced in 2022!’
a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5%”
As Elon, Dalio, and Jamie Dimon all recognize, the Western world is headed for a sovereign debt crisis. Just like the establishment was hiding the president’s senility, they’re also hiding the true state of the economy. But let’s calibrate with the ten charts below, and then you can judge for yourself.
Scientists Drop Bombshell: Ivermectin Treats EpilepsyA group of leading scientists at the UK’s prestigious Imperial College of London has dropped a bombshell study confirming that ivermectin has been proven to treat certain forms of epilepsy.READ MORE
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
America’s ‘Mini OPEC’: Major US Refiners Slash Capacity Amid Global Glut Fears
BY TYLER DURDEN
MONDAY, AUG 12, 2024 – 01:45 PM
Following the series of mega-mergers in the oil exploration and production space, a potential US refining cartel—a ‘mini OPEC on American soil’—could be taking shape with some of the first coordinated policies to reduce refining capacity this quarter as demand falters and concerns about a global glut of crude mount.
Bloomberg reports that four major refiners, including Marathon Petroleum, owner of the largest US refinery, plan to reduce refining capacity at 13 of its plants to an average of 90%, down 4% from the same quarter in 2023. Similarly, PBF Energy announced plans to refine the least amount of crude in three years. Phillips 66 will operate refineries near two-year lows, and Valero Energy expects to cut oil processing soon.
The four major refiners represent about 40% of the US capacity to refine oil into diesel, jet fuel, gasoline, and other essential crude products critical to the economy. Slowdown fears encompass not just the US economy (recession scare last Monday) but also China, thus reducing crude product demand and shrinking profit margins for refiners.
On Monday morning, commodity firm Argus’ Bachar EL-Halabi wrote on X, “Opec blinks first, downgrading for the first time since July 2023 its global oil demand growth forecasts for 2024 and 2025.”
Halabi continued:
Opec now sees demand growth projection for 2024 to be 2.11mn b/d down from 2.25mn b/d.
Opec has also cut its oil demand growth forecast for next year by 60,000 b/d to 1.78mn b/d.
Opec’s latest oil demand growth projections narrow the gap with other forecasters such as the IEA and EIA, but Opec’s figures are still comparatively bullish.
Reminder: The IEA projects oil demand to increase by 970,000 b/d this year, while the EIA sees demand rising by 1.1mn b/d.
#Opec blinks first, downgrading for the first time since July 2023 its global oil demand growth forecasts for 2024 and 2025.
Opec now sees demand growth projection for 2024 to be 2.11mn b/d down from 2.25mn b/d.
Opec has also cut its oil demand growth forecast for next year by 60,000 b/d to 1.78mn b/d.
#ICYMI: @ArgusMedia’s assessment of #Opec+ crude output by those members subject to cuts fell for a 4th straight month in July, down by 50,000 b/d to 33.89mn b/d. This was the lowest since May 2021 and exceedingly close to the alliance’s production target of 33.85mn b/d. #oott
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3,507 Views
.com/Bacharelhalabi/status/182295044744907617
Vikas Dwivedi, Macquarie’s global oil and gas strategist, told Bloomberg recently in an interview in Houston, “Compressed refining margins are setting up the stage for another round of heavy refinery maintenance in the US during the fall season … and that’s going to weigh on balances and may add to crude builds in the US for the rest of the year.”
He said the potential for supplies to exceed demand has reduced the premium geopolitical risks festering in the Middle East, explaining, “The market is no longer willing to pay a huge premium for that because the tensions haven’t so far resulted in a loss of barrels.”
Dwivedi expects Brent crude oil to average around $75/bbl in the fourth quarter and slide as low as $64/bbl in the second quarter of next year.
In the meantime, Crude is soaring today amid geopolitical tensions…
Chief Commercial Officer Rick Hessling said Marathon “will run economically at 90%” capacity in the third quarter, a multi-year low. He pointed out that the Chinese economic recovery remains a significant concern, and OPEC could stir volatility with policy in the short term.
The bigger story here is the possible rise of the US refining cartel after a series of mega-mergers in recent quarters.
end
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
CANADA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.0925 UP 0.0014
USA/ YEN 147.50 UP 1.11 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 1.2762 UP 0.0013
USA/CAN DOLLAR: 1.3722 UP .0003 (CDN DOLLAR DOWN 3 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 3.99 PTS OR 0.14%
Hang Seng CLOSED UP 21.42 PTS OR 0.13%
AUSTRALIA CLOSED UP 0.47%
// EUROPEAN BOURSE: ALL MOSTLY GREEN EXCEPT FRANCE
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 198.40 PTS OR 1.17 %
/SHANGHAI CLOSED DOWN 3.99 PTS OR 0.14%
AUSTRALIA BOURSE CLOSED UP 0.47%
(Nikkei (Japan) CLOSED UP 193.85 PTS OR 0.86%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2441.70
silver:$27.94
USA dollar index early MONDAY morning: 103.012 UP 6 BASIS POINTS FROM FRIDAY’s CLOSE.
The USA/Yuan, CNY ON SHORE CLOSED UP AT 7.1766 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1820)
TURKISH LIRA: 33.55 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.851…
Your closing 10 yr US bond yield DOWN 5 in basis points from FRIDAY at 3.944% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.224 DOWN 1 in basis points /12.00 PM
USA 2 YR BOND YIELD: 4.041 UP 1 BASIS PTS.
GOLD AT 11;00 AM 2448.60
SILVER AT 11;00: 27.86
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: MONDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 42.15 PTS OR 0.52%
German Dax : CLOSED DOWN 3.59 PTS OR 0.02%
Paris CAC CLOSED DOWN 22.24 PTS OR 0.31 %
Spain IBEX CLOSED UP 17.04 OR 0.26%
Italian MIB: CLOSED UP 146.09 PTS OR 0.46% PTS
WTI Oil price 77.49 12EST/
Brent Oil: 80.36 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 90.83 ROUBLE DOWN 4 AND 41/100
GERMAN 10 YR BOND YIELD; +2.230 UP 1 BASIS PTS.
UK 10 YR YIELD: 3.9640 DOWN 2 BASIS POINTS
CDN 10 YEAR RATE: 3.125 DOWN 2 BASIS PTS.
CLOSING NUMBERS: 4 PM
Euro vs USA 1.09.31 UP 0.0019 OR 19 BASIS POINTS
British Pound: 1.2767 UP 0.0017 OR 17 basis pts
BRITISH 10 YR GILT BOND YIELD: 3.919 DOWN 3 BASIS PTS//
JAPAN 10 YR YIELD: 0.851
USA dollar vs Japanese Yen: 147.20 UP 0.825 YEN DOWN 83 BASIS PTS//
USA dollar vs Canadian dollar: 1.3730 UP 0.0019//CDN dollar UP 19 BASIS PTS
West Texas intermediate oil: 79.79
Brent OIL: 82.03
USA 10 yr bond yield DOWN 6 BASIS pts to 3.940
USA 30 yr bond yield DOWN 7 BASIS PTS to 4.240%
USA 2 YR BOND: DOWN 4 PTS AT 4.017
CDN 10 YR RATE 3.115 DOWN 2 BASIS PTS
USA dollar index: 102.93 DOWN 3 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 33.55 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 90.99 DOWN 2 AND 10/100 roubles
GOLD 2,470.15 3:30 PM
SILVER: 28.00 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: DOWN 140.46 PTS OR 0.36%
NASDAQ UP 28.92 PTS OR 0.16 %
VOLATILITY INDEX: 21.19 UP 0..82 PTS OR .403%
GLD: $228.38 UP 3.82 OR 1.70%
SLV/ $25.49 UP 0.49 OR 1.96%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
AFTERNOON TRADING/
Gold, Oil, & Bonds Soar As Stocks Swing Wildly To Unch Ahead Of Big Data Week
MONDAY, AUG 12, 2024 – 04:00 PM
Stocks were relatively quiet today (relative to recent history and relative to other asset-classes today) as traders await July CPI and Retail Sales data later this week, as well as earnings reports prints from bellwethers including WMT and HD.
Small Caps and The Dow were the day’s laggards with Nasdaq and the S&P basically unchanged…
There have been seven 30-handle SPX swings today...
…yet, Goldman’s trading desk notes that overall activity levels are down dramatically (-40% vs. the trailing 2 weeks with market volumes down -20% vs the 10dma) with the floor tilting +2% better to buy, with LOs net to buy and HFs net for sale.
HFs are -9% better for sale, this is 95th %-ile over the last 1yr following a week where PB noted single stocks saw the largest net buying in 6 months. They are better for sale in every sector ex-HCare, Tech & REITs. The largest supply is from Macro Products, while Fins, Cons Disc and Mats follow close behind.
LOs are +1% better to buy. Macro Products is at the top, more than 3x better to buy than the next closest sector (HCare). Also buying Staples, Tech & Comms Svcs while selling Cons Disc, Indust, Energy & Fins.
Additionally, Goldman highlights that CTA supply is almost over with $81B out of global equities and $24B out of SPX in the last week…still for sale over the this week, but much more manageable supply…
Source: Goldman Sachs
VIX also ended practically unchanged, roundtripping the tumble at the cash open…
Source: Bloomberg
Treasury yields were all lower on the day by around 4bps (30Y underperformed)…
Source: Bloomberg
The 2Y yield fell to 4.00% and found some support on the day…
Source: Bloomberg
Rate-cut expectations rose today but the dovishness was all pushed into 2025 (with 2024 stuck at four 25bps cuts)…
Source: Bloomberg
Gold soared up towards record highs once again (a record high close today)…
Source: Bloomberg
Crude prices also exploded higher today amid geopolitcal tensions with WTI topping $80 for the first time in three weeks)…
Source: Bloomberg
And while commodities were rising, so was the Dollar
Source: Bloomberg
Crypto markets were just as chaotic as stocks today with some serious intraday swings (as BTC whipsawed between $58,000 and $60,000)…
Source: Bloomberg
But for a change, ETH outperformed BTC on the day…
Source: Bloomberg
Finally, it’s worth noting just how dramatically inverted the S&P 500’s vol term structure is…
Source: Bloomberg
With VIX liquidity at or near record lows, and gamma negative, there’s still plenty of room for chaotic swings before NVDA’s earnings.
AFTERNOON TRADING///
II USA DATA
III USA ECONOMIC COMMENTARIES
Robert H
and this is scary!
And not just in the US
“I don’t state this lightly, and I urge Trump’s security team to be alert to the fact that according to my sources, the US State Dept was aware nearly two years ago that surface-to-air missile systems had “disappeared” into the USA after being smuggled across the border in transport vehicles. I was told the State Dept was “panicked” to locate these systems. They could be used to target Trump’s plane when taking off or approaching for landing. I have no idea what range these have, but I very much doubt that airport security is anywhere near sufficient enough to account for the potential threat these systems may pose. Even worse, we are all aware of Operation Fast & Furious under Obama (w/ Eric Holder) where the US deep state deliberately allowed high-powered firearms to cross the border in order to put them into the hands of violent drug cartels. A legitimate question right now: Has the deep state deliberately allowed SAMs to be placed into the hands of terrorists who will target Trump’s airplane? Please PRAY for Trump’s safety. Pray for peace. Pray that we get to Election Day without terrorism, false flags or acts of war. To Trump’s security team, please expand your threat perimeter to include the grounds NEAR airports and understand that these SAMs could potentially be launched out of the back of pickup trucks or similar vehicles. Everybody put on the Armor of God and ask Him to bless our nation with protection and peace!”
I written many a time that arms sent to Ukraine have been resold across Europe with next delivery for pennies on the dollar. This is threat to anyone who is against the agenda being hoisted upon the globe.
END
“Travel Trends Deteriorating” As Consumer Downturn Worsens
With the Biden-Harris economy losing steam, recession risks are mounting as the labor market cools. Airlines, hotels, short-term rental platforms, and even theme parks are sounding the alarm bells about a consumer downturn.
Evidence of a consumer slowdown is widespread.
Goldman’s Peter Callahan commented on this in a note to clients on Sunday, “Travel trends clearly deteriorating into July/2H (EXPE / ABNB 2H moderation, DIS Parks/Experiences saw a moderation of consumer demand, FOUR calling out restaurant weakness in July) – debate is if they are now ‘de-risked’ into 2H or if the market will need to wait to see if we go ‘below’ trend before normalizing (as many other categories impacted by COVID have done – e.g. e-commerce) ..”
What’s very clear is that pent-up demand for travel during the Covid era has evaporated as consumers struggle with elevated inflation and high interest rates, along with maxed-out credit cards and depleted personal savings in an economic environment that even VP Harris has admitted Bidenomics has failed.
Bloomberg cited new website tracking data from Similarweb, which shows consumer web searches for rooms, flights, and cruises have sharply declined in recent quarters.
From Airbnb to United Airlines, Delta Air Lines, Spirit Airlines, Frontier, Walt Disney, and travel platform Expedia Group, management teams of these mega corps have all been warning about a consumer slowdown.
Just last week, Expedia slashed its annual outlook for the second time this year due to worsening consumer softness.
Days ago, Hilton CEO Christopher Nassetta told investors, “The lower sort of half of consumers, maybe even the lower three-quarters, have less disposable income available and less capacity to do anything, including travel.”
Although Bloomberg mentions that “demand for travel isn’t collapsing,” the fact that consumers have been pulling back for months is a very ominous signal that the economy is heading in the wrong direction.
END
strong indication that the USA economy is weakening
(MishShedlock)
Credit-Card And Auto-Loan Delinquencies Surged In The Second Quarter
After falling during the pandemic, the share of consumers with a delinquent credit card has increased rapidly since 2021 and is now higher than in 2019. While consumers with delinquencies clearly show signs of struggling, news reports have taken the rising delinquency rate as a sign that financial distress is becoming more widespread, suggesting underlying weakness in the U.S. economy. We show that rather than being a sign of broader distress, this increase in delinquencies is explained by a substantial increase in the riskiness of recently issued credit cards.
Delinquencies have been concentrated among credit cards originated in the last few years and we show these credits cards were much riskier than in previous years. Two factors explain this extra risk: First, lending standards loosened a bit in 2021 and 2022 judging by a decline in credit scores at origination. At the same time, pandemic aid and forced savings pushed average credit scores up sharply. Effectively, by not tightening significantly, lenders were originating cards much further down the risk spectrum. We show this shifting risk composition explains why delinquencies are higher than in 2019.
Overall delinquencies increased rapidly over the last few years because the credit cards originated in 2021, 2022, and 2023 have gone delinquent much more rapidly than credit cards originated in other years. About 8 percent of credit cards originated in 2016 became delinquent about four years after origination. Meanwhile, the 2021 vintage reached an 8 percent delinquency rate just after 2 years while the 2022 vintage reached 8 percent after less than two years and 2023 has followed 2022 closely so far. (The 2020 vintage is in between the pre-pandemic and post-pandemic vintages reaching 8 percent delinquency after 3 years.) At the same time, credit cards originated in earlier years have not seen a similar increase in delinquencies in recent years.
Cards Originated in 2021 Through 2023 Were Riskier than Before
Figure 3 [Above Image] shows the credit score of new credit cards originated each month and the average credit score of all consumers on the left axis. During the Great Recession, lending standards tightened sharply, so that consumers with a new credit card had average scores above 720, even while the average credit score among all consumers was around 690. As a result, the average credit score rank for consumers with a new credit card was above 55 percent from 2008 to 2014, as shown on Figure 3’s right axis. A consumer’s credit score rank is what percentage of all consumers with a score have a score lower than that consumer.
Credit stress is rising just as layoffs are increasing and it’s getting much harder to find a job if you lose one.
That newer issued credit is failing faster again suggests it is renters and generation Z that is most impacted.
But it’s not just Millennials and Zoomers. Delinquencies are rising in all age groups, just more steeply in age groups 39 and younger.
Recession Debate
On August 9, I discussed why things are worse than they look.
Recessions frequently start with positive job growth and positive industrial production.
And jobs are highly likely to be seriously overstated. My calculations of pending negative revisions is similar to that of Bloomberg’s chief economist.
If you think jobs are strong, you are very mistaken.
END
Medium-Term Inflation Expectations Tumble In NY Fed Survey As Spending Growth Pessimism Rises
MONDAY, AUG 12, 2024 – 01:05 PM
With all eyes on this week’s inflation data barrage, starting with PPI tomorrow and moving to CPI on Wednesday, today’s NY Fed consumer survey was closely watched to see what it would reveal about consumer inflation expectations ahead of the coming hard numbers. The result was generally agreeable: while median 1 and 5-year inflation expectations were unchanged at 3.0% and 2.8%, respectively, consumers’ three-year-ahead inflation expectations fell by 0.6% point to 2.3%, sliding to a new series low since the survey’s inception in June 2013.
This decline in 3 Year inflation expectations was most pronounced for respondents with a high-school education or less and those with annual household income under $50,000. The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at the one- and five-year-ahead horizons and was unchanged at the three-year-ahead horizon.
Extending the inflation outlook,, median home price growth expectations was unchanged at 3.0% in July…
… while year-ahead commodity price expectations declined by 0.8 percentage point for gas to 3.5% and 0.1 percentage point for food to 4.7%, but rose by 0.2 percentage point for the cost of medical care to 7.6%, 1.9 percentage points for the cost of college education to 7.2%, and 0.6 percentage point for rent to 7.1%.
Turning to the labor market, we find that optimism here fizzled as median one-year-ahead expected earnings growth declined by 0.3% point to 2.7% in July. The series has been moving within a narrow range of 2.7-3.0% since January 2024.
At the same time, mean unemployment expectations, or the mean probability that the U.S. unemployment rate will be higher one year from now, decreased by 1.0 percentage point to 36.6%, remaining below its 12-month trailing average of 37.7%.
One surprise is that according to the survey, the mean perceived probability of losing one’s job in the next 12 months decreased by 0.5% point to 14.3% even though the actual unemployment rate surged last month and triggered the Sahm’s Rule which has preceded every record recession.
Additionally, the mean probability of leaving one’s job voluntarily in the next 12 months increased by 0.2 percentage point to 20.7%, the measure’s highest reading since February 2023. The mean perceived probability of finding a job (if one’s current job was lost) decreased by 0.9 percentage point to 52.5%.
Turning to household finances, the median expected growth in household income was unchanged at 3.0% in Jul…
… while median household spending growth expectations fell by 0.2 percentage point to 4.9%, the measure’s lowest reading since April 2021.
Some more findings:
Perceptions of credit access compared to a year ago deteriorated in July, with the share of households reporting it is harder to obtain credit than one year ago increasing. However, expectations for future credit availability improved in July, with the share of respondents expecting it will be harder to obtain credit in the year-ahead decreasing.
Delinquency expectations increased, with the average perceived probability of missing a minimum debt payment over the next three months increasing by 1.0 percentage point to 13.3%, its highest level since April 2020. The increase was most pronounced for those with an annual income below $50,000 and those with a high school degree or less education.
The median expectation regarding a year-ahead change in taxes (at current income level) declined by 0.3 percentage point to 4.0%. Boy are they going to be surprised.
Median year-ahead expected growth in government debt was unchanged at 9.3% in July.
The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months decreased by 0.2 percentage point to 25.1%.
Perceptions about households’ current financial situations compared to a year ago improved slightly in July, with the share of households reporting a better situation compared to a year ago rising. Conversely, year-ahead expectations about households’ financial situations deteriorated in July, with the share of households expecting a worse financial situation in one year from now rising.
The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 0.1 percentage point to 39.3%.
H.L. Mencken apparently never quite said that “No one ever went broke underestimating the intelligence of the American public.” He said lots of similar things, however, and I like to think he would have been proud of being the sort of chap to whom people attributed such astringent mots.
He would also, I feel sure, regard the theater surrounding the Kamala Harris-Tim Walz campaign as a test case of the proposition.
Last week in this space, I pointed out the irony of the Sudden Harris Ascendancy Syndrome. Here she was, one of the least popular figures on the American scene—someone, moreover, whom everyone, no matter their political coloration, regarded primarily as political life insurance for Joe Biden—and yet, Wham!, the very moment Biden resigns, her media reconstruction begins in earnest.
I almost wrote “media rehabilitation,” but that would not have been quite right. We say that someone is rehabilitated when he has fallen from a previous state of health, competence, or popularity.
Kamala Harris has never been competent or popular. So what the media has done to or with her these last couple of weeks is more of an outright fabrication project. In part, as I wrote last week, it is a product of “magical thinking,” the belief, or at least the hope or pretense, that by saying something is so, you magically make it so.
The primary aim of this bit of theatrical slight-of-hand is positive. It is to make people believe, for as long as they inhabit this theater of the absurd (the show runs, by the way, until November 5) that the person answering to the name “Kamala Harris” is not against fracking, though her doppelgänger, who existed until July 21 when Joe Biden dropped out of the race, was adamantly against fracking.
Similarly, Kamala 2.0 does not believe in open borders. But the original version, who was Biden’s “Border Czar,” did nothing to stanch the flow of illegal immigrants and spoke openly about a “path to citizenship” for them all eventually and Medicare and other benefits for them now.
Pick the issue: if it’s contentious, you will find that Kamala has had a sudden metanoia in the last couple of weeks. She is like the wolf who, addressing a flock of sheep, assures them that as soon as he is elected, he will become a vegetarian.
They are trying the same thing with Tim Walz, but what is uphill work for Kamala Harris is Mt. Everest for Walz. He really did order that tampons be put into boys’ bathrooms in Minnesota schools. He allowed eight babies to be murdered after botched abortions left them alive. He sat back and watched Minneapolis burn when the St. George Floyd riots erupted in 2020. Just a day or two ago, NBC reported that Walz now says he “misspoke” in 2018 when describing his military experience. But he did not “misspeak.” He lied.
Walz is one of the many Democrats who seem to think that George Orwell’s 1984 was a how-to manual, not a sober warning about the dangers of totalitarianism. Remember the COVID insanity? Walz was one of the worst governors during that made-up emergency. Not only did he mandate vaccines, but he also set up a “snitch line” and encouraged Minnesotans to report their neighbors should they dare to venture outside without a mask. Nevertheless, the media has been playing a clip over and over of Walz saying he wants people to “mind their own business.” As if.
The Democrats’ old friend, what the Freudians call “projection,” is evident everywhere in this entertainment. It boils down to accusing your opponents of the very things you are doing or are. So, the memo went out that J. D. was henceforth to be described as “weird,” when in fact he radiates normality, competence, and healthy self-confidence. Walz? Despite the theatrical producers’ best effort, the fact that the man is one sick puppy cannot be obscured.
The strategy of the Biden-Harris—er, make that the “Harris-Walz” campaign depends on people being dazzled by their theater of the absurd. Both candidates claim now to believe things they have spent the last decades attacking. But their supposed conversion is not the result of any heavenly illumination. It’s not like Saul falling to the ground on the road to Damascus. Rather, it is an abracadabra sort of conversion, i.e., no conversion at all, merely subterfuge. It’s an elaborate show we are being treated to, replete with fake polls showing Harris-Walz ahead in some swing states.
Already, the façade is cracking as more and more devastating videos come to light about both candidates. The ridicule machine of Trump and his allies is only getting cranked up. More, much more, will be coming to an internet search near you.
As I say, this show is scheduled to run at least until November 5, maybe longer, depending on how much election fraud the Democrats are allowed to indulge in. But there will be occasional intermissions during which the deciding question will be pressed upon all of us theatergoers. Is this campaign about mood and emotion—is it, I mean, essentially a female campaign? Or is it a matter of competing policies, of things like peace, prosperity, individual liberty, and economic competitiveness?
I am betting that, when the Chardonnay is gone and paper masks no longer fit, every robust voter will decide that he wants to live in the real world of common sense, not the hot-house world of woke theatrics and socialist nostrums. In other words, I predict that Mencken’s diminishing wager about the American public will, at least in this one instance, turn out to be dead wrong.
END
Trump To Sue DOJ For $100 Million Over Mar-a-Lago Raid
BY TYLER DURDEN
MONDAY, AUG 12, 2024 – 11:35 AM
Former President Donald Trump is set to sue the DOJ for $100 million in damages over the 2022 raid on his Mar-a-Lago property in Palm Beach, Florida – arguing that it was done “clear intent to engage in political persecution.”
According to a memo obtained by Fox News, the lawsuit will claim “tortious conduct by the United States against President Trump.”
Trump and his legal team intend to sue the Justice Department for its conduct during the FBI’s raid on Mar-a-Lago on Aug. 8, 2022, amid the federal investigation into his alleged improper retention of classified records.
After the raid, Special Counsel Jack Smith was appointed to investigate. Smith ultimately brought 37 felony counts against Trump, including willful retention of national defense information, conspiracy to obstruct justice, and false statements. Trump pleaded not guilty to all counts.
Last month, US District Judge Aileen Cannon dismissed the DOJ’s case against Trump – ruling that Smith was unlawfully appointed and funded, citing the Appointments Clause in the constitution.
The notice to sue was filed by Trump attorney Daniel Epstein, and gives the DOJ 180 days from the date of receipt to respond and come to a resolution. If no agreement is made, Trump’s case will move to federal court in the Southern District of Florida.
“What President Trump is doing here is not just standing up for himself – he is standing up for all Americans who believe in the rule of law and believe that you should hold the government accountable when it wrongs you,” Epstein told Fox Business’ Lydia Hu.
According to the filing, the “tortious acts against the president are rooted in intrusion upon seclusion, malicious prosecution, and abuse of process resulting from the August 8, 2022 raid of his and his family’s home at Mar-a-Lago in Palm Beach Florida,” adding that decisions made by the DOJ and FBI in conducting the raid were “inconsistent with protocols requiring the consent of an investigative target, disclosure to that individual’s attorneys, and the use of the local U.S. Attorney’s Office.”
Epstein further argues that decisions made by Attorney General Merrick Garland as well as FBI Director Christopher Wray were not based on “social, economic, and political policy,” but instead were in “clear dereliction of constitutional principles, inconsistent standards as applied to” Trump and a “clear intent to engage in political persecution – not to advance good law enforcement practices.”
“Garland and Wray should have never approved a raid and subsequent indictment of President Trump because the well-established protocol with former U.S. presidents is to use non-enforcement means to obtain records of the United States,” wrote Epstein. “But notwithstanding the fact that the raid should have never occurred, Garland and Wray should have ensured their agents sought consent from President Trump, notified his lawyers, and sought cooperation.”
“Garland and Wray decided to stray from established protocol to injure President Trump,” the filing continues.
Epstein argued that the DOJ violated Florida law, intrusion upon seclusion, which is recognized as a form of invasion of privacy. Intrusion upon seclusion includes “an intentional intrusion, physically or otherwise, into the private quarters of another person” and the intrusion “must occur in a manner that a reasonable person would find highly offensive.” -Fox News
“The FBI’s demonstrated activity was inconsistent with protocols used in routine searches of an investigative target’s premises,” the filing continues, adding that Trump “had a clear expectation of privacy at Mar-a-Lago. Worse, the FBI’s conduct in the raid – where established protocol was violated – constitutes a severe and unacceptable intrusion that is highly offensive to a reasonable person.”
The filing also argues that the DOJ and special counsel’s office “brought a lawless criminal indictment,” which constitutes “malicious prosecution.”
“As such, given the Supreme Court’s immunity decision and Judge Cannon’s dismissal of the prosecution on grounds that the Special Counsel’s appointment violated the appointments clause and his office was funded through an improper appropriation, there was no constitutional basis for the search or the subsequent indictment.”
Trump is also planning to sue for punitive damages.
“For these harms to President Trump, the respondents must pay punitive damages of $100 million,” Epstein wrote, adding that there was an “abuse of process,” and that the methods used against Trump were “unconstitutional and aimed at politically persecuting the former President, which led to extensive legal costs and negative consequences for him.”
In a statement to Fox Business, Epstein said: “You have clear evidence that the FBI failed to follow protocols, and the failure to follow protocols shows that there was an improper purpose,” adding “f the government is able to say, well, we don’t like someone, we can raid their home, we can violate their privacy, we can breach protocols when we decide to prosecute them, we can use the process to advance our personal motive–not a motive of justice–if someone doesn’t stand against that in a very public way and seek to obtain and protect their rights, then the government will have a mandate to roughshod over every American.”
END
Harris Campaign Said Walz ‘Chaired Veterans Affairs’… He Did Not
As Republicans began scrutinizing the military record of Minnesota Gov. Tim Walz, the Harris campaign released a statement supporting the vice-presidential nominee, in part, by pointing to his time in Congress and claiming that “he chaired Veterans Affairs.”
While the former congressman spent over a decade in the House, serving on Veterans Affairs and eventually rising to become the ranking member of that committee, at no time was he ever the chairman.
Vice President Kamala Harris correctly characterized Walz’s time in Congress when introducing her running mate in Philadelphia, calling him “the top Democrat on the Veterans Committee.”
It was her campaign, however, that erred.
The statement in question reads, “after 24 years of military service, Governor Walz retired in 2005 and ran for Congress, where he chaired Veterans Affairs and was a tireless advocate for our men and women in uniform — and as Vice President of the United States he will continue to be a relentless champion for our veterans and military families.”
It was printed in RealClearPolitics, NBC News, and numerous other outlets, further raising the ire of Republicans who already claim that Walz has misrepresented his record. A Harris aide told RCP Thursday morning that the error “was an innocent mistake” made by staff.
“Governor Walz was ranking member/top Democrat on the House Committee on Veterans’ Affairs,” a spokesman for the Harris campaign said, for the 115th Congress between 2017 and 2018.
A spokesman for Illinois Republican Rep. Mike Bost, current chairman of the committee, told RCP the same, saying that “Rep. Walz was only ever ranking member and he served in that role from 2017-2019.”
“When Tim Walz was asked by his country to go to Iraq, do you know what he did? He dropped out of the Army and allowed his unit to go without him – a fact that he’s been criticized for aggressively by a lot of the people that he served with,” said GOP vice presidential nominee J.D. Vance. A Marine Corps veteran who served in Iraq, Vance added, “I think it’s shameful to prepare your unit to go to Iraq, to make a promise that you’re going to follow through, and then to drop out right before you actually have to go.”
It was a reference to the fact that Walz retired from the National Guard in 2005, ending a 24-year career before his unit, the National Guard’s 1st Battalion, 125th Field Artillery, deployed to Iraq.
Walz eventually reached the rank of a command sergeant major, the most senior enlisted noncommissioned officer in a battalion and represented himself previously as “the highest-ranking enlisted service member ever to serve in Congress.”
As Army Lt. Col. Kristen Augé, public affairs officer for the Minnesota National Guard, told NBC News, however, Walz “culminated his career serving as the command sergeant major for the battalion” and “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.”
Another discrepancy: In a video clip promoted by the Harris campaign, Walz called for gun control on the grounds that “we can make sure those weapons of war, that I carried in war, are only carried in war.” The candidate did not, however, ever serve in a war zone.
A spokesperson for the Harris-Walz campaign did not dispute that the governor may have overstated his case when claiming he carried a weapon in combat. “In his 24 years of service, the governor carried, fired and trained others to use weapons of war innumerable times. Gov. Walz would never insult or undermine any American’s service to this country – in fact, he thanks Senator Vance for putting his life on the line for our country,” the campaign said in a statement to RCP on Wednesday. “It’s the American way.”
This Is Not the End of the Carry Trade! Extreme monetary policy to artificially keep rates down will fuel the Yen Carry Trade for years to come. Borrowing money in Japan costs almost nothing, allowing investors to deploy that borrowed capital into higher-yielding investments elsewhere… The Japanese will start to structurally shrink a couple of years from now. A declining economy and 2% inflation? Good luck with that. This sheer lack of growth potential and the Bank of Japan’s extraordinary policies – it’s no coincidence that the Bank of Japan reinvented yield curve control – are the basis of the continued existence of the carry trade… https://jeroenblokland.substack.com/p/this-is-not-the-end-of-the-carry
USUs rallied sharply because the Treasury auctions were over and they left Primary Dealers very long. So, ‘they’ manipulated USUs and bonds higher to unload their inventory on patsies.
ESUs acted unusually on Friday. They oscillated between gains and losses, but in an increasing range, a megaphone pattern for most of the day. During early Nikkie trading, the range was 26-handles until ESUs broke down at the 1 ET Nikkei close. ESUs then surged 43 handles by 5 ET. They then sank to the daily low of 5319.50 at 8:35 ET, -53 handles from the high. ESUs then rallied in a very choppy ascending patter until they hit a daily high of 5385.25 at 13:29 ET.
After a drop to 5345.25 at 14:35 ET, the Summer Friday Afternoon Rally began. But the move was labored; ESUs trudged up to 5373.75 at 15:36 ET. ESUs then rolled over and traded flat into the close.
Positive aspects of previous session Bonds rallied on post-auction relief and the pump & dump. Mag 7 and tech led the Friday Rally.
Negative aspects of previous session The DJTA declined 102.95 points. The rally was listless for a Friday.
Ambiguous aspects of previous session Who is manipulating ESUs and NQUs? Who needs to protect the stock market?
First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up
Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5334.56 Previous session S&P 500 Index High/Low: 5358.67; 5300.84
Las Vegas Police Recordings Released from Biden’s Medical Event and Code 3 Transport to Airport (Rumors were true!) Those recordings confirm RedState’s reporting that Biden was first headed to University Medical Center, a trauma center, after he suddenly canceled a speaking engagement due to illness, then suddenly diverted directly to Harry Reid International Airport… “For everyone on the radio, right now POTUS is 421. He’s being seen, so we’re just kinda waiting to see how this is shaping out. So, for everybody’s knowledge, he’s 421 (sick/injured person) right now; we’re just trying to figure out what’s going on and we’re gonna go from there.”… https://redstate.com/jenvanlaar/2024/08/09/breaking-las-vegas-metro-pd-recordings-released-from-bidens-leaving-las-vegas-n2177942
President Biden asks for direction during Rangers’ World Series celebration at White House: ‘What am I doing?’ https://t.co/jj1yAahV8Y
@RNCResearch: Biden tells the Texas Rangers that their own Adolis García now holds the MLB record for “most RBI in a single season.” That’s news to them — because he completely made it up. https://t.co/PLizbpb4nG
Google admits to omitting Trump assassination attempt searches in autocomplete tool function The autocomplete feature also experienced issues when users searched for “President Donald” and related terms. The attorney mentioned that these bugs were fixed after they were brought to Google’s attention, reports National Review. In addition, Google claimed that an algorithmic error was responsible for displaying news stories about Vice President Kamala Harris, Trump’s 2024 rival, when users searched for Trump’s name… https://saraacarter.com/google-admits-to-omitting-trump-assassination-attempt-searches-in-autocomplete-tool-function/
@susancrabtree: If the FBI did not tell the Secret Service that they were closing in on the arrest of this Pakistani citizen with ties to Iran – who was plotting to assassinate Trump UNTIL he was arrested or the day of the arrest, then the FBI has absolutely NO BUSINESS leading theassassination attempt investigation — they were part of the PROBLEM… “The FBI does a horrible job at communication with the USSS,” a source in the Secret Service… tells me. “They don’t care about anyone but themselves.”
Ex-DoD operative: @T_S_P_O_O_K_Y: While the US media ignores the Ukraine invasion of Russia, and the Russians deploy S400 anti-aircraft systems and Nuclear Capable Kinzhal hypersonic missiles to Iran, and the world is on the brink of World War III, we have no idea who’s in charge of the United States government…
@nicksortor on Friday night: President Trump’s plane has diverted to Billings, MT rather than Bozeman due to a “mechanical issue,” (reportedly ‘hydraulic leaks’!) according to KTVH. Secret Service is reportedly doing a “sweep” of the airport before Trump boards another private plane to Bozeman. This stuff legitimately has me concerned for Trump’s safety. I’m totally on edge.
Trump: We were just informed by Microsoft Corporation that one of our many websites was hacked by the Iranian Government – Never a nice thing to do! They were only able to get publicly available information but, nevertheless, they shouldn’t be doing anything of this nature. Iran and others will stop at nothing, because our Government is Weak and Ineffective, but it won’t be for long. What Iran doesn’t realize is that I will make the World a better and safer place, and that’s good for them, also! Donald Trump Truth Social 11:01 PM EST 08/10/24 @realDonaldTrump
@visegrad24: 80,000 Russians have now left their homes and fled from the advancing Ukrainian Army in the Kursk region of Russia. Ukraine launched their invasion of Russia a week ago. https://t.co/CCJ6LZ1JKz
@AFP: Fire at cooling tower of Zaporizhzhia nuclear plant: Russian-installed governor. Ukrainian President Volodymyr Zelensky in a social media post accused Russia of having “started a fire” at the plant. (retaliation for Ukraine forces invading Russia?)
Today – Traders will play for the Monday Rally. The S&P 500 Index low on Friday was 5300.84; obviously 5300 is important support. Long-time readers might recall that after stock market tumbles and suspicious rebounds, we regularly note that this dynamic has occurred repeatedly since the Crisis of 2008-2009. When stocks tumble and key technical levels are breached or threatened, someone engages in Impact Trading that halts selling momentum and changes trader psychology. This just occurred again.
Traders are now emboldened by the stock market rescue operations. They do NOT care who did the manipulation or why. They believe that the reason for the intervention is still operative. So, ‘they’ are not only comfortable on the long side; they will aggressively play the long side.
PS – There is nothing on the horizon to unnerve bulls until the July CPI Report on Wednesday.
NQUs are -6.50; ESUs are -5.00; and USUs are -2/32 at 20:35 ET.
S&P Index 50-day MA: 5446; 100-day MA: 5313; 150-day MA: 5199; 200-day MA: 5032 DJIA 50-day MA: 39,467; 100-day MA: 39,183; 150-day MA: 38,928; 200-day MA: 38,085 (Green is positive slope; Red is negative slope)
S&P 500 Index (5344.17 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 4983.62 triggers a sell signal Weekly: Trender and MACD are negative – a close above 5628.97 triggers a buy signal Daily: Trender and MACD are negative – a close above 5486.65 triggers a buy signal Hourly: Trender and MACD are positive – a close below 5266.62 triggers a sell signal
Kamala had a bad weekend. Her first new policy initiative is ‘no taxes on tips,’ which is stolen from DJT. There are allegations that her campaign uses AI to enhance her crowd sizes. Posted pictures show people with multiple arms, distorted faces, and nonsense symbols on shirts. They also got caught trying to denigrate Trump’s crowd size by using a video of the arena TWO HOURS before the rally.
Campaigns that believe their candidate is winning don’t seize the policies of the rival candidate!
@themarketswork: The guy who lists himself as Kamala’s Battleground Digital Director has locked his account after some fake photos of crowds were credited to himhttps://t.co/ndQvU8oOvz
@CollinRugg: Left-wing influencer @williamlegate accidentally roasts Kamala Harris’ crowd size after he thought it was Trump’s rally. Remarkable. In a now-deleted post, LeGate trashed Trump for “ordering” his team to cover up thousands of empty seats. One problem: The rally was Kamala Harris’ rally in Arizona… https://x.com/CollinRugg/status/1822310913221021832
@dom_lucre: Kamala Harris and Tim Walz used curtains to block off the top seating of the Desert Diamond Arena in Phoenix Arizona for their rally. These are the things journalists need to note, too many conservative journalists are reporting the capacity size of the stadium and making it appear as if Harris filled the arena… https://x.com/dom_lucre/status/1822060997454274989
@CollinRugg: Kamala Harris’ campaign X account caught sharing video of Trump’s rally in Montana from *2 hours* earlier in the day, claiming it was the live footage.I’ve never seen a campaign lie so blatantly in my life. Shortly before Trump’s rally started, Kamala HQ shared the footage below. A time stamp shows the video was taken at 7:36pm Eastern time. Live footage from 9:35 eastern time shows a packed arena. This is just one of the many deceptive posts the account has made in the past few weeks. https://x.com/CollinRugg/status/1822093325266247758
@realDonaldTrump: Everything about Kamala is fake!
@ClayTravis: They are going to have Kamala do one debate, no interviews, and otherwise keep her on a teleprompter for the rest of the campaign. Seems clear at this point. (Replay Biden 2020 strategy)
@ByronYork: In her first run for president, Kamala Harris shot up in the polls and fell back just as quickly. The more voters saw of her, the less they liked. Now, the Dem goal is to avoid a repeat. So: No unscripted moments that might reveal more about her, as a candidate or a person.
@PhilipWegmann: Vice President Harris says to expect a policy platform from her “next week,” telling reporters “It’ll be focused on the economy and what we need to do to bring down costs.” (Again, she was the deciding vote on the Inflation…Act that created the biggest US inflation since 1979)
@EricAbbenante: Angela Rye shocked that her ‘Best Rapper Alive’ question stumped Kamala Harris. Harris initially chose Tupac, and Rye had to remind Harris that Tupac died nearly 25 years ago: Angela Rye: “Best rapper alive?” Kamala Harris (2020): “Tupac” Angela Rye: “He’s not alive.” Kamala Harris: “I keep doing that.” Angela Rye: “Keep going.” Kamala Harris: “Who would I say? There’s so many… I mean, you know. There are some that I would mention right now because they should stay in their lane.” Angela Rye: “I want to know who one of those are.” Kamala Harris: “Keep moving. Keep moving Angela.” ‘How do you do, fellow blacks?’ This is why Hiding Harris is running away from the debates that would ask tough questions. Maybe even questions that would be tougher than ‘Best Rapper Alive’. https://x.com/EricAbbenante/status/1821684812224012443
@charliekirk11: In three weeks since becoming the nominee, Kamala Harris hasn’t held a single interview or a single real press conference. Now, she says she won’t grant a single interview until after the DNC. Even the New York Times is writing about it. “In the nearly three weeks since President Biden withdrew his candidacy, catapulting Ms. Harris to the top of the Democratic ticket, the vice president has shown little eagerness to meet journalists in unscripted settings. She has not granted an interview or held a news conference. On Thursday, after a rally in Michigan, she held her first “gaggle” — an impromptu Q.-and-A. session — with reporters covering her campaign. It lasted 70 seconds.”…
@JCNSeverino: Kamala Harris will pack the Supreme Court and destroy the independent judiciary: “I’m open to this conversation about extending the number of people on the U.S. Supreme Court.” https://t.co/Mxk6lhLyMg
@WesternLensman: 2019: Kamala enthusiastically agrees on the need for paper ballots in US elections: “Because Russia can’t hack a piece of paper!” *Cackles hysterically*https://t.co/MjPTwmqQY5
@TrumpWarRoom: “If Comrade Walz and Comrade Harris win this November, the people cheering will be the pink-haired Marxists, the looters, perverts, flag-burners, Hamas supporters, drug dealers, gun-grabbers, and human traffickers…”https://x.com/TrumpWarRoom/status/1822122867951034420 “One of the most sinister accomplices in Kamala’s plot to demolish America’s borders has been her ally and partner in the U.S. Senate, one of the biggest phonies in American politics… Jon Tester…” https://x.com/TrumpWarRoom/status/1822130763829215654 “ Since becoming a presidential candidate, she has refused to do a single interview. You know why? Because She’s dumb…” https://x.com/TrumpWarRoom/status/1822116821849571519 “If you cannot do a press conference, you cannot be president… She doesn’t do any.” https://x.com/TrumpWarRoom/status/1822117126364115207 “This Election is about saving our economy, ending inflation, securing our borders, restoring respect for our nation… preventing World War III… and stopping a 1929-style depression… You saw what happened last week… We will reverse the Kamala Crash…” (Who manipulated ESUs last week?) https://x.com/TrumpWarRoom/status/1822115320858907105
@MorePerfectUS: Kamala Harris: Prices for everyday things like groceries are still too high. You know it, and I know it. When I am president, it will be a day one priority to fight to bring down prices. (Kamala throws Joe under the bus; but she was the deciding vote on Inflation Act!) https://t.co/xtjMkxoIbM
Anti-Israel voters warn Harris won’t get their vote without a cease-fire: ‘This is our leverage.’https://t.co/c0E570ZHPa
Team Harris is running campaign ads that portray her as being tough on policing the border and she reduced border crossings! For three weeks, Team Harris and the media claimed she had nothing to do with the border. Because that tactic didn’t work, they transitioned to risible gaslighting! @DrewHLive: After nearly a decade of President Trump being called a racist for wanting strict border security. Kamala Harris is now claiming that same man doesn’t take Border Security seriously. The gaslighting is truly remarkable.https://x.com/DrewHLive/status/1822130244268290486
Vance Campaign accuses CNN of ‘ignoring its own scoop’ to ‘cover up’ for Tim Walzhttps://t.co/14kx93uPLy
@JDVance on Sun: I enjoyed sitting down with three of the major networks today to answer the tough questions any leader should answer. Kamala Harris has done as many tough interviews as Tim Walz has battlefield deployments.
@Travis_4_Trump: WATCH: J.D. Vance just BODIED CNN’s Dana Bash. J.D. Vance: You’ve now asked me three questions about comments that I made three years ago. I wonder what Kamala Harris thinks about the fact that her policies opened the southern border. I wonder what Kamala Harris thinks about the fact that she lied to the American people about Joe Biden’s mental facility for the office. Dana Bash: I’m interviewing you not Kamala Harris. J.D. Vance: You are interviewing me, Dana, because I respect the American people enough to sit down for an interview. Kamala’s been the nominee for three weeks and she hasn’t sat down for a real interview. We’ve talked a lot more about a sarcastic remark I made three years ago. I think we should talk about the issues that most Americans care about. https://x.com/Travis_4_Trump/status/1822756725281148965
@PAStateDept: Pennsylvanians won’t always know the final results of all races on election night. Any changes in results that occur as counties continue to count ballots are not evidence that an election is “rigged.”https://x.com/PAStateDept/status/1821589896773128621 @ChayaRaichik10: Third world countries count all their ballots on election day but Pennsylvania can’t figure it out…
@LukeMor19529310: Flashback to 2020, when the Trump Campaign accused Smartmatic of providing hackable software to Dominion Voting Systems, which they claimed compromised the 2020 Presidential election. Today Smartmatic’s founder has been indicted for bribery & money laundering…
Zero Hedge: Hey Fox: you may want to ask for that $787 defamation settlement back. Turns out Smartmatic’s co-founder was charged in a bribery and money laundering scheme involving a national election. As a reminder @reidhoffman funded Smartmatic’s lawsuit against Fox.
@seanmdav: Remember what kind of regime you currently live under in this country. Were top executives at Smartmatic, a voting machine company, indicted by the regime because of bribery and fraud? Or were they indicted because something that wasn’t supposed to happen was allowed to happen? And that can’t be allowed to happen. As J.P. Morgan once said, “A man always has two reasons for what he does—a good one, and the real one.” When it comes to the regime running our country, I think it’s always worth asking what the real reason is.
@JDunlap1974: A new lawsuit has been filed by a FL resident against Mayorkas alleging conspiracy to commit election fraud by using noncitizens then having NGOs register them to vote. Once the illegals are registered, the NGOs request ballots which get sent to them by mail. https://x.com/JDunlap1974/status/1821798941165236645
A Thorough Investigation of ActBlue Charities is Coming – enables money laundering and the ability to donate in someone else’s name to skirt election laws…https://t.co/ssMiWjiCJC
@JackPosobiec: CNN just accidentally brought on the senior soldier who served with Walz and he went off confirming that the only reason Walz got promoted up was that the unit was being deployed. Then Walz quit to run for Congress instead of deploying. https://x.com/JackPosobiec/status/1822281175685095761 @TheKevinDalton: Tim Walz’s former military superior has his interview cut short by CNN for “technical difficulties” as soon as he starts explaining that Walz is full of it. https://x.com/TheKevinDalton/status/1822113613588652315
@MattBatzel: CNN Anchor in disbelief as Tim Walz’s former Superior details how Walz quit and went around his superior to avoid going to Iraq. “We had already received our notification of sourcing (NOS)…Yes, he had been notified.” https://x.com/MattBatzel/status/1822062754187899368 @BillAckman: If people question whether there is bias in media, you should watch this clip. When the answers given by the subject of the interview do not match the narrative which the network would like to advance, the anchor terminates the interview using as an excuse that the subject’s time is valuable and the connection is choppy. Watch to the end and see for yourself whether these reasons are a pretext or whether this is good journalism and fairness in media.
Chaplain of Tim Walz’s National Guard battalion calls VP pick ‘cowardly’ for abandoning unithttps://trib.al/tCnYxFN
@Cernovich: Tim Walz: The Minnesota National Guard does not contain “highly trained troops,” they are all “19 years olds who are cooks.”https://t.co/yJbC1va1AW
Seven Troubling Tim Walz Connections to Communist ChinaThe CCP approved and even subsidized Walz’s student exchanges….A CCP diplomat and other CCP government officials attended Walz’s gubernatorial inauguration in January 2019…Walz has close connections to a Twin Cities-based organization that houses an alleged secret CCP police station—one of only seven secret CCP police stations in the U.S…Less than one year into his first gubernatorial term, Walz was an honored guest speaker at multiple CCP-backed influence operation events in 2019…Walz has a long history of making outlandishly pro-CCP comments…https://www.breitbart.com/politics/2024/08/08/exclusive-seamus-bruner-seven-troubling-tim-walz-connections-to-communist-china/
Democratic Gubernatorial Candidates March to Abolish ICE July 3, 2018 Democratic gubernatorial candidates Tim Walz, a U.S. Representative, and Erin Murphy, a state representative, marched alongside the protesters at the “Families Belong Together” protest Saturday. https://alphanews.org/democratic-gubernatorial-candidates-march-to-abolish-ice/
Michele Bachmann details Tim Walz’s history of covering up fraud for Minnesota’s Islamic communityhttps://t.co/xOPMPrc934
Former Minnesota lawmakers unload on Harris’ ‘partisan’ VP pick Tim Walz: ‘Very thin-skinned’ (Just like the regime media!) https://t.co/wliV2UXBle
@LeadingReport: Italian American Civil Rights League calls for Kamala Harris’ VP pick Tim Walz to drop out of the race, saying he is “an enemy of the Italian American Community.”This stems from Gov. Walz’s response to rioters who toppled a statue of Christopher Columbus.
@zerohedge: For those wondering why Ipsos did not include the political affiliation/sampling data in its latest poll which shows Harris +2% over Trump, here is Ipsos: “this one came out of field somewhat late and we missed including that in the assembly of the topline document”
@Peoples_Pundit: The @RCPolitics (now @RCPolling) average was more accurate than the Nate Silver/538 average in 2016 and 2020. The latter overstated the Democratic margin by 1.5% and 3.5%, respectively. The former was more modest, though still overstated by 1.1% and 2.7%. More recently in 2022, the 538 average for the Generic Ballot was Republican +1.2 versus RCP at Republican +2.5. Republicans won the House vote by 2.8%. See a pattern here?
Robert Cahaly of Trafalgar Group has been one of the most accurate pollsters from 2016 on. He has Trump up 2-3 points in all swing states expect Michigan (Harris +2). He has Trump +2 in GA. Cahaly was on of the few pollsters that had Trump winning in 2016. https://x.com/Pro__Trading/status/1822024637318041889/photo/1
Harris’s Big Gift to Trump—if He Uses It by Victor David Hanson Harris’s selection of Walz at least reveals the left’s full-bore agenda, something that previously her handlers seemed at pains to hide: an overt doubling down on the Biden neo-socialist record that will require a far more vigorous stealth 90-day campaign to camouflage the hard-left record of both Harris and Walz… Walz is a force multiplier of Harris’s vulnerabilities… The real Harris-Walz campaign messaging will be: ‘In 2024 we have to lie and mislead you about who we are and what we did, so that in 2025 we can govern you in ways you will not like.’… That leftwing blunder could energize the Trump campaign—if again he sticks to warning the country of who these two are, what they have done, how they are hiding their real agendas, what they will do if elected, and how they differ from his own presidential record and future agenda… Nothing else matters… https://x.com/VDHanson/status/1821274828722336136
@FLVoiceNews: DeSantis says media is “manufacturing” Kamala Harris’ candidacy and “excitement.”“This is all manufactured […] She doesn’t answer questions, for good reasons. Because, she’ll talk about the passage of time, and being unburdened – I mean, it’s just nonsense.” https://x.com/FLVoiceNews/status/1821931806548955449
@EndWokeness: Scotland’s former PM Humza Yousaf calls for a crackdown against X and calls Elon Musk “one of the most dangerous men.” “The most wicked, evil possible” https://x.com/EndWokeness/status/1821907152308466050 @SchmittNYC: I still can’t believe this guy led Scotland. White guilt is a helluva drug.
Elizabeth Warren Asks Tesla to Probe Musk Conflicts of Interest – BBG (There is no entity that is as oppressive, intolerant, and totalitarian as leftists!)
NYC teachers blast new math curriculum amid leaked reports of failing test scores: ‘Complete disaster’https://t.co/pIBVGakpxz
Secret Service apologizes after breaking into Massachusetts salon to use bathroom before Harris fundraiser – Secret Service did not have permission to use or enter building, owner says… The salon owner, Alicia Powers, says Secret Service agents put duct tape over her security cameras and broke into her building by picking the lock. They then allowed various people to use the salon’s bathroom over a two-hour period… (Patently unconstitutional! Someone should be fired or prosecuted!) https://t.co/2nfwpEfCuu
US polls show that by huge percentages, Americans trust Trump on the economy more that Harris. Yet, the FT, which detests DJT’s anti-globalism, published a poll that shows 42% of Americans trust Harris on the economy with 41% trusting Trump. Why should we trust most polls? https://www.ft.com/content/cf9a7c4d-3b82-4867-892c-f4f95daebbc7 @frederikdeboer: This is the best evidence that these polls are clearly manipulated.
@RNCResearch: ABC’s @jonkarl (2023): “The president put VP Kamala Harris in playing a critical role in terms of trying to stop the flow of migrants across the border.” ABC’s @jonkarl (2024): “You know she’s not actually — she wasn’t the Border Czar.” FAKE NEWS! https://x.com/RNCResearch/status/1822770870818852933
Normally, the worst opposition research items are released in the window that opens after Labor Day. October Surprises occur occasionally. What is Team Trump and his allies holding on Harris and Walz? Dems have been pounding, often with fake news, for 9 years. Is highly unlikely they have anything now.
When you have surprise triple bypass surgery, you don’t know if you are coming back. In a world without Jesus and Jehovah, I would have been buried a month ago, but I don’t live in that world. I live in a world where Jesus and Jehovah are real, and when I called out, they rescued me. I am a reporter by trade, and those are the facts. This was no small feat because the doctors told me after the open-heart surgery that my heart was as clogged up as they have ever seen.
It was a “miracle outcome,” according to my heart surgeon. When I asked him why he said this, he replied, “You now have 90% of your heart functioning fine, and you have yet to have cardiac rehab.” He went on to say, “You will end up with very little permanent damage.” This is a miracle outcome.
Join Greg Hunter of USAWatchdog.com as he tells his story of a heart attack that almost took his life, but he was saved by his faith in Jehovah and Christ Jesus.
After the Presentation:
I am going to work up to a full production schedule, but not right away. Please be patient as they tell me recovery is a process, and you cannot hurry it along without causing yourself big problems.
harveyorganblog.com 
