AUGUST 14/GOLD CLOSED DOWN $26.20 TO $2441.40//SILVER WAS DOWN 40 CENTS TO $27.30//PLATINUM WAS DOWN $14.15 TO $925.15 WHILE PALLADIUM WAS DOWN $8.20 TO $934.10 ON FED ORCHESTRATED RAID ON THE PRECIOUS METALS//EU THREATENS TRUMP AND MUSK FOR THEIR CONVERSATION YESTERDAY AS FREE SPEECH IS ON THE LINE//ENGLAND’S CONTINUAL MIGRANT TRUMOIL//IRAN SUFFERS A HUGE CYPERATTACK WHEREBY ALL BANKS COULD NOT ACCESS ANY ACCOUNTS//ISRAEL VS HAMAS AND HEZBOLLAH//RUSSIA VS UKRAINE: AN UPDATE ON UKRAINE’S INVASION INTO RUSSIA/ COVID UPDATES//VACCINE INJURY UPDATES/CPI RELEASED THIS MORNING AND IS VERY MILD//SWAMP STORIES FOR YOU TONIGHT
118 C MACQUARIE FUT 231 118 H MACQUARIE FUT 11 190 H BMO CAPITAL 46 323 C HSBC 24 363 H WELLS FARGO SEC 1 555 H BNP PARIBAS SEC 13 624 H BOFA SECURITIES 20 657 C MORGAN STANLEY 5 661 C JP MORGAN 74 661 H JP MORGAN 42 686 C STONEX FINANCIA 1 690 C ABN AMRO 8 2 709 C BARCLAYS 8 732 C RBC CAP MARKETS 2 737 C ADVANTAGE 7 2 905 C ADM 1
TOTAL: 249 249 MONTH TO DATE: 18,065
JPMorgan stopped 116/249
GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 635 NOTICES FOR 63,500 OZ or 1.975 TONNES
total notices so far: 17,816 contracts for 1,781,600 Oz (55.415 tonnes)
FOR AUGUST:
SILVER NOTICES: 0 NOTICE(S) FILED FOR 0
OZ/
total number of notices filed so far this month : 768 for 3,840,000 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 DOWN $26.20 INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 4.03 TONNES OF GOLD OUT OF THE GLD//
/ /INVENTORY RESTS AT 845.76 TONNES
INVENTORY RESTS AT 845.76 TONNES
SLV/
WITH NO SILVER AROUND AND SILVER DOWN $0.40 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 HUGE SIZED 726 CONTRACTS TO 147,859 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH VERY MINOR LIQUIDATION OF OI FROM OUR SPREADERS/TAS DESPITE OUR LOSS OF $0.19 IN SILVER PRICING AT THE COMEX ON TUESDAY’S TRADING. VERY LITTLE OF OUR OILIQUIDATION ACCOMPANIED OUR HUGE GAIN OF 756 CONTRACTS ON OUR TWO EXCHANGES AS WE HAD SMALL LIQUIDATION OF T.A.S. CONTRACTS DURING TUESDAY’S TRADING//. WE HAD SOME COVERING BY OUR SPECS WITH THE HUGE GAIN IN PRICE AS WE HAD A SMALL 30 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY A HUMONGOUS 5658 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED 787 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE.
PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN YESTERDAY. THE ACCUMULATED T.A.S. IS BEING USED TO MANIPULATE PRICES TODAY.
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 TUESDAY NIGHT: 5658 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 $0.19) BUT WERE UNSUCCESSFUL IN KNOCKING A ANY SILVER LONGS FROM THEIR PERCH AS WE HAD A HUGE SIZED GAIN OF 787 CONTRACTS ON OUR TWO EXCHANGES.
WE HAD A SMALL 30 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 0 OZ QUEUE JUMP //NEW STANDING REMAINS AT 4.070 MILLION OZ
//NEW STANDING FOR SILVER//AUGUST IS THUS 4.070 MILLION OZ
WE HAD:
/ HUGE SIZED COMEX OI GAIN //SMALL SIZED EFP ISSUANCE/ VI) HUGE SIZED NUMBER OF T.A.S. CONTRACT ISSUANCE 5658 CONTRACTS)/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 31 CONTRACTS//
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS AUGUST ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF AUGUST
TOTAL CONTRACTS for 10 DAYS, total 10,720 contracts: OR 53.600 MILLION OZ (1072 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 53.600 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; 53.600 MILLION OZ//THIS MONTH WILL PROBABLY BE A VERY STRONG FOR ISSUANCE.
RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 726 CONTRACTS DESPITE OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL EFP ISSUANCE CONTRACTS: 30 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 0 OZ QUEUE JUMP
//NEW TOTAL STANDING FOR JULY 4.070 MILLION OZ
WE HAVE A HUGE SIZED GAIN OF 756 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GIGANTIC SIZED 5658 CONTRACTS,//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX TRADING WHICH ACCOUNTS FOR A PORTION OF THE COMEX OI GAIN//// SOME SHORT COVERING FROM OUR SPEC SHORTS AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.
THE NEW TAS ISSUANCE TUESDAY NIGHT (5658) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .
WE HAD 0 NOTICE(S) FILED TODAY FOR NIL 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 HUGE SIZED 10164 OI CONTRACTS TO 505,872 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 1523 CONTRACTS
WE HAD A HUGE SIZED INCREASE IN COMEX OI (10,164 CONTRACTS) OCCURRED DESPITE OUR SMALL GAIN OF $3.50 IN PRICE/TUESDAY. 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 37,400 OZ QUEUE JUMP AS FINALLY GUYS ARE STANDING FOR GOLD AT THE COMEX
NEW STANDING ADVANCES TO 67.381 TONNES
/ ALL OF THIS HAPPENED WITH OUR SMALL $3.50 GAIN IN PRICE WITH RESPECT TO TUESDAY’S TRADING. WE HAD A HUGE SIZED GAIN OF 16,807 OI CONTRACTS (52.27 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 GOOD SIZED 2774 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 507,395
IN ESSENCE WE HAVE A HUGE SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 16,807 CONTRACTS WITH 10,164 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 6643 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 16,807 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD 2774 CONTRACTS,
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6643 CONTRACTS) ACCOMPANYING THE HUGE SIZED GAIN IN COMEX OI OF 10,164 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 16,807 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 37,400 OZ QUEUE JUMP AS THESE BOYS JUMP THE QUEUE TO STAND AT THE COMEX./
//NEW STANDING ADVANCES TO: /AUGUST 67.341 TONNES.
/ 3) SOME T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,
4) HUGE SIZED COMEX OPEN INTEREST GAIN 5) HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///GOOD T.A.S. ISSUANCE: 2774 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: 52,262 CONTRACTS OF 5,226,200 OZ OR 162.556 TONNES IN 10 TRADING DAY(S) AND THUS AVERAGING: 5226 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 10 TRADING DAY(S) IN TONNES 162.556 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 162.556 DIVIDED BY 3550 x 100% TONNES = 4.59% 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: 162.556 TONNES//THIS MONTH WILL NO DOUBT BE A HUGE ISSUANCE OF EFP’S SIMILAR TO LAST MONTH.
SPREADING OPERATIONS
(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS
SPREADING LIQUIDATION HAS NOW COMMENCED AS WE HEAD TOWARDS THE NEW ACTIVE FRONT MONTH OF AUGUST. WE ARE NOW INTO THE SPREADING OPERATION OF GOLD
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF FEB., FOR GOLD: AND MARCH FOR SILVER
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (AUG), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER ROSE BY A HUGE SIZED 726 CONTRACTS OI TO 147,859 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 30 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: 200 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 726 CONTRACTS AND ADD TO THE 30 E.FP. ISSUED
WE OBTAIN A HUGE SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 756 CONTRACTS
THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES TOTALS 3.780 MILLION OZ OCCURRED DESPITE OUR $0.19 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//
WEDNESDAY MORNING/TUESDAY NIGHT
SHANGHAI CLOSED DOWN 17.29 PTS OR 0.60% //Hang Seng CLOSED DOWN 60.70 PTS OR 0.35% // Nikkei CLOSED UP 209.92 OR 0.58%//Australia’s all ordinaries CLOSED UP 0.35%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1385 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1373/ Oil DOWN TO 78.10 dollars per barrel for WTI and BRENT UP AT 80.44 Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING BELOW 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 HUGE SIZED 10,164 CONTRACTS TO 505,872 WITH OUR SMALL GAIN IN PRICE OF $3.50 WITH RESPECT TO TUESDAY’S TRADING. WE LOST ZERO 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 TUESDAY’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 VERY STRONG SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,
THAT IS A STRONG SIZED 6643 EFP CONTRACTS WERE ISSUED: : OCT/DEC6643 & ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 6643 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 HUGE SIZED TOTAL OF 16,807 CONTRACTS IN THAT 6643 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A HUGE SIZED GAIN OF 10,164 COMEX CONTRACTS..AND THIS HUGE GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR SMALL GAIN IN PRICE OF $3.50/TUESDAY 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 TUESDAY NIGHT A GOOD SIZED 2774 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 TUESDAY’S TRADING.
// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING: AUGUST (67.381 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 67. TONNES
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $3.50 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A HUGE GAIN IN OUR TWO EXCHANGES. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A VERY MINOR SIZED T.A.S. LIQUIDATION TUESDAY/COMEX IF ANY. PROBABLY STORED FOR A WEDNESDAY RAID.
WE HAVE GAINED A TOTAL OI OF 52.27 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 37400 OZ QUEUE JUMP //NEW STANDING: 67.381 TONNES.
NEW STANDING FOR AUGUST: 67.381 TONNES
ALL OF THIS WAS ACCOMPLISHED WITH OUR SMALL GAIN IN PRICE TO THE TUNE OF $3.50
WE HAVE REMOVED 1523 CONTRACTS FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL
NET GAIN ON THE TWO EXCHANGES 16,807 CONTRACTS OR 1,680,700 OZ (52.27
Total monthly oz gold served (contracts) so far this month
18,065 notices 1,806,500 oz 56.189 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month
NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month
x
0 dealer deposits:
total dealer deposits: nil oz
we have 0 customer deposits
total deposits NIL oz
withdrawals: 0
TOTAL WITHDRAWALS nil oz
adjustments: 0
CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST
For the front month of AUGUST we have an oi of 3847 contracts having LOST 437 contracts.
We had 635 contracts served on TUESDAY so we gained an additional 374 contracts or 37400 oz will stand for gold at the comex
SEPT. GAINED 15 CONTRACTS TO STAND AT 5592 CONTRACTS.
OCTOBER GAINED 685 CONTRACTS UP TO 52,500 CONTRACTS
We had 249 contracts filed for today representing 24,900 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 249 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 116 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 (18,065) x 100 oz ) to which we add the difference between the open interest for the front month of August 3847( CONTRACTS) minus the number of notices served upon today (249 x 100 oz per contract( equals 2,166,300 OZ OR 67.381 TONNES. Somebody was in great need of physical gold on this side of the pond today
thus the INITIAL standings for gold for the AUGUST contract month: No of notices filed so far (18,065 x 100 oz +we add the difference for front month of AUGUST (3847 X// , OI} minus the number of notices served upon today (249) x 100 oz which equals 2,166,300 oz (67.381 TONNES)
TOTAL COMEX GOLD STANDING FOR AUGUST: 67.381 TONNES WHICH IS HUGE FOR THIS VERY ACTIVE DELIVERY MONTH IN THE CALENDAR.
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD: 17,602,869.389 OZ
TOTAL REGISTERED GOLD 7,953,876.673 ( 247.39 tonnes).
TOTAL OF ALL ELIGIBLE GOLD: 9,748,379,366 OZ
REGISTERED GOLD THAT CAN BE SERVED UPON: 6,232,543 oz (REG GOLD- PLEDGED GOLD)= 195.85 tonnes //
END
SILVER/COMEX
AUGUST 14/2024
INITIAL
//2024// THE AUG 2024 SILVER CONTRACT//INITIAL
Silver
Ounces
Withdrawals from Dealers Inventory
NIL oz
Withdrawals from Customer Inventory
137,004.823 OZ
CNT Delaware
.
Deposits to the Dealer Inventory
Deposits to the Customer Inventory
1,070,045.490 oz i) Brinks ii)CNT iii)Loomis
No of oz served today (contracts)
0 CONTRACT(S) (NIL OZ)
No of oz to be served (notices)
46 contracts (0.230 million oz)
Total monthly oz silver served (contracts)
768 Contracts (3.840 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 Brinks 484,140.06 oz
ii) Into CNT 3,001,900 oz
iii) Into Loomis 582,903.530 oz
total customer deposit 1,070,045.490 oz oz
JPMorgan has a total silver weight: 134.771million oz/304.307million or 44.36%
adjustment:
withdrawals: 2
i) Out of CNT 62,501.250 oz
ii) Out of Delaware: 74,503.673 oz
total customer withdrawals: 137,004.823 oz
TOTAL REGISTERED SILVER: 69.904 MILLION OZ//.TOTAL REG + ELIGIBLE. 303.374 million oz
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:
silver open interest data:
FRONT MONTH OF AUGUST/2024 OI: 46 CONTRACTS HAVING LOST 66 CONTRACT(S).
WE HAD 66 NOTICES SERVED ON tuesDAY, SO WE GAINED 0 CONTRACTs OR AN ADDITIONAL nil OZ WILL STAND FOR SILVER AT THE COMEX.
SEPT SAW A LOSS OF 4953 CONTRACTS TO 66,500. SEPT NOW BECOMES THE NEW FRONT MONTH
OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 30 CONTRACTS AND THUS WE HAVE 308 OPEN INTEREST CONTRACTS FOR OCTOBER.
.
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 0 for nil oz
CONFIRMED volume; ON MONDAY 147,858 huge/t.a.s. liquidation
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 768 x 5,000 oz = 3.840 MILLION oz
to which we add the difference between the open interest for the front month of AUGUST( 46) and the number of notices served upon today 0 x (5000 oz) equals the number of ounces standing.
Thus the standings for silver for the AUGUST/2024 contract month: 768 notices served so far) x 5000 oz + OI for the front month of AUGUST (46)x number of notices served upon today minus (0)x 5000 oz of silver standing for the AUGUST contract month equates to 4.070 MILLION OZ.
New total standing: 4.070 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 14 WITH GOLD DOWN $26.20 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 4.03 TONNES OF GOLD OUT OF THE GLD//////INVENTORY RESTS AT 845.76 TONNES
AUGUST 13 WITH GOLD UP $3.35 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.88 TONNES OF GOLD INTO THE GLD//////INVENTORY RESTS AT 849.79 TONNES
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: 845.76 TONNES, TONIGHTS TOTAL
SILVER
AUGUST 14//WITH SILVER DOWN $0.40//NO CHANGES IN SILVER INVENTORY:///./// /INVENTORY AT 465.743 MILLION OZ
AUGUST 13//WITH SILVER DOWN $0.19//NO CHANGES IN SILVER INVENTORY:///./// /INVENTORY AT 465.743 MILLION OZ
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
2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY//BILL HOLTER:
Here we are again!
I posted these three charts back on July 31 positing a move higher was imminent. It looked to be working well for a few days until the Japanese meltdown occurred and the moves were aborted. But here we are again in a very short period of time. Gold has already broken to new highs with the MACD crossing over to the upside. Both silver and the HUI have MACD lines touching and poised to cross to the upside. We have been watching the famed “Swiss stairstep” upwards since last October, it appears another step higher is imminent. I should also mention, when the system itself begins to break down, the step(s) higher will shock everyone!
It is now one of the unspoken but immutable dictates on Wall Street: with each new banking crisis, the Federal Reserve will quickly create an emergency bailout program and give it a three to four letter abbreviation so that it vanishes into an alphabet soup blur of Fed bailout programs that preceded it.
The latest iteration came in the spring of 2023 in response to a run on federally-insured banks that federal regulators had allowed to get in bed with crypto and/or had allowed to binge on uninsured deposits. The Fed quickly launched the Bank Term Funding Program (BTFP) on March 12, 2023.
BTFP joined the copious iterations from the Fed’s COVID-19 related bailouts and the Fed’s 2007-2010 bailouts with names like the Primary Dealer Credit Facility (PDCF), Commercial Paper Funding Facility (CPFF), Money Market Mutual Fund Liquidity Facility (MMLF), Term Asset-Backed Securities Loan Facility (TALF) and so on.
Under the Dodd-Frank financial reform legislation of 2010, the Fed is required to keep the Senate Banking Committee and the House Financial Services Committee informed, on an ongoing basis, about its emergency lending programs. These, however, are bare bones reports. On Monday, for example, the Fed provided those Committees with an updated report on the Bank Term Funding Program. The names of the banks that were borrowing were not provided; neither current nor cumulative loan amounts outstanding for each respective bank was provided, and so forth. What was shared was that as of July 31, 2024, “The total outstanding amount of all advances under the BTFP was $102,065,995,000.”
You are likely asking yourself why an emergency Fed program to stop a bank run in the spring of 2023 still has $102 billion outstanding in the summer of the following year. The answer is that although the Fed stopped making new loans under the BTFP on March 11, 2024, the loans it had previously made were for as long as one-year terms. If, for example, the Fed initiated new loans on Friday, March 8, 2024, the BTFP could still have outstanding balances until March 8, 2025. That would mean that a Fed bailout facility created in March 2023 lasted for two years – defying the statutory language of the Federal Reserve Act which requires emergency lending by the Fed to be short term in nature.
The chart above on the Bank Term Funding Program was created using data available at the St. Louis Fed. (Run your cursor over the chart line here.) It shows that by November 29, 2023, borrowing from the BTFP had leveled off to $113.9 billion – suggesting that the bank runs and panic had subsided. But then, between November 29, 2023 and January 24, 2024, borrowing from the BTFP emergency facility exploded by an additional $53.9 billion to $167.8 billion – a jump of 47 percent in less than two months.
What happened to expand the fear of bank runs into the fall of 2023? As the “Related Articles” below explain, August of 2023 saw multiple warnings and downgrades of banks from the credit rating agencies. Fitch’s downgrade of U.S. debt didn’t help either.
Then on November 17, Stanford’s Institute for Policy Research published a study titled: “Fragile: Why More US Banks Are at Risk of a Run.” The study made the following disturbing findings:
Recent declines in bank asset values have significantly increased the vulnerability of the U.S. banking system to uninsured depositor runs.
The actual market value of assets in the U.S. banking system is $2.2 trillion lower than the stated value of these assets.
A substantial number of institutions are at risk of failing should there be a run on these banks by uninsured depositors.
As the chart above indicates further, 17 months after the Fed initiated its “emergency” BTFP lending facility, there is still an outstanding loan amount of $100.86 billion.
The Fed is perfectly able to make loans to individual depository banks under its Discount Window. That’s been one of its statutory roles since its creation – as a lender of last resort to depository banks.
But beginning with the financial crisis of 2008, with no authorization from Congress, the Fed has decided willy nilly that it will expand its role to bailing out the trading houses on Wall Street on an ongoing basis, even going so far as to funnel tens of billions of dollars to their trading units in London in 2008, according to the government audit that was released in 2011.
If this is not the financial structure that you want to leave to your children and grandchildren, please call your U.S. Senators today and demand the restoration of the Glass-Steagall Act, which would permanently separate Wall Street’s casino trading houses from federally-insured banks.
3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES
end
4. GOLD PODCASTS//LIVE FROM THE VAULT/no 185 with/Andrew Maguire
5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/RARE EARTH
Geopolitical Tensions Are Transforming The Rare Earth Market
China’s dominance in the rare earth market is gradually declining as other countries ramp up production.
Western governments are incentivizing domestic rare earth production to reduce reliance on China and mitigate supply chain risks.
Despite recent price volatility and oversupply, rare earth demand is expected to remain strong due to their essential role in high-tech and green technologies.
The rare earth market is undergoing a shift in geographical supply chain concentration, spurred by Western efforts to reduce reliance on China off the back of growing demand, focus on national security, and the strategic importance of the materials. Over the last decade, annual rare earth supply has tripled, setting global production records almost every year – from 142,000 tonnes in 2013 to 359,000 tonnes of rare earth oxide equivalents mined last year.
The rare earths market is in a state of flux, finding itself at the crossroads of technological innovation and geopolitical tension. China’s long-standing dominance remains strong but is gradually waning with its share of global production declining from 98% in 2010 to 78% in 2015 and down to 67% last year as producers in Australia and the US, backed by substantial government support, ramp up activity.
China is still dominant, although its market share is declining
Despite a decline in China’s market share in the upstream mining sector, its absolute supply output is still rising. More importantly, its control across the complex midstream to downstream processing and manufacturing stages is proving harder to shake. Although relatively geologically abundant, rare earths are deemed rare because extracting and separating the ores into individual oxides needed for use in manufacturing is difficult. This makes economically viable deposits rare. The consolidated state-controlled Chinese market is at the forefront of industrial and technologically demanding operations related to rare earths processing. Last December, China imposed export control of technologies for rare earth extraction, separation, refining and magnet production, potentially slowing down new development outside of the country. Continued financial backing will be required from Western governments to loosen China’s mature grip and increase its market share across the rare earth processing value chain.
Regional policies to boost domestic rare earths supply
The US is promoting the development of its domestic rare earths value chain through research funding and project financing via the Inflation Reduction Act. Australia has long supported rare earths projects through tax incentives, meanwhile, Europe aims to build out supply through domestic targets for supply quotas through its Critical Raw Materials Act. In May this year, both the US and Australia announced policies to combat competition from China. Australia announced the extension of incentives in the 2024-2025 budget plan through a 10% production tax credit and pre-feasibility project funding for all critical minerals, including rare earths. At the same time, the Biden administration in the US imposed a 25% import tariff on rare earth magnets from China, effective from 2026.
There are several countries with abundant rare earth ore reserves, and with global reserves measuring around 115 million tonnes, the world has enough to last over 300 years, based on last year’s production volumes. With more reserves likely to be discovered, a shortage of resources is not a realistic concern.
Although small in volume compared to the over 3 billion tonnes of metals mined annually, rare earth elements are crucial to society, and their unique properties have proven extremely difficult to substitute. Demand for the 17 lustrous silvery-white metals has risen recently due to their essential role in buoyant energy transition-related sectors, as well as in high-tech equipment within defense, artificial intelligence and consumer electronics. Permanent magnets, required for any device related to electric motion such as wind turbines and electric vehicle (EV) motors, is the largest application for rare earths, making the magnetic rare earths neodymium, praseodymium, dysprosium and samarium among the most in-demand and highly valued rare earths. We expect the magnetic rare earths to remain principal, propelled by technological advancements and the electrification of society.
The race between China and the West will continue
A dramatic rise in supply has outpaced demand over the last few years, resulting in an oversupply of rare earth products. This has created an erratic low-price environment where many producers are operating at a loss. Rare earth prices are notoriously volatile and difficult to predict, partly due to their high susceptibility to geopolitical risk and ongoing global trade disputes. A volatile price environment is challenging early-stage initiatives launched by an expanding supplier landscape aiming to capitalize on the emerging globalized supply chain.
Rare earths have become a key battleground in the ongoing technological and economic rivalry between China and the West as the race continues for control to ensure its reliable supply.
6 CRYPTOCURRENCY NEWS
Crypto Tumbles As ‘Harris/Biden’ Admin Moves Another 10,000 ‘Silk Road’ Bitcoin To Coinbase
Wednesday, Aug 14, 2024 – 02:45 PM
Bitcoin prices fell this morning in reaction to the lackluster CPI (as rate-cut expectations dipped). That selloff broke through $60,000 and accelerated further as headlines broke that the US government moved 10,000 seized Bitcoin from the Silk Road dark web marketplace to a Coinbase wallet Wednesday.
It’s not immediately clear whether the United States plans to sell or custody the assets.
The transaction follows a previous move of approximately $2 billion worth of Silk Road Bitcoin in late July.
As a reminder, the price action (dowwward) in various cryptocurrencies is front-running expectations of the creditors getting their hands back on these assets and selling them…
…the only problem with that argument is, as we detailed here, the creditors are not selling, they’re HODLing…
“Now, seeing the continued growth and acceptance of their industry, many Mt. Gox creditors may have become even stronger believers in Bitcoin and its future potential, choosing to hodl further.”
So, its really only the algos, reacting to the headlines, that is driving any dips.
“This resilience suggests that while short-term volatility is possible, the long-term impact on Bitcoin’s market dynamics will likely be minimal.”
The US government currently holds roughly 203,000 BTC valued at approximately $12 billion at the time of this writing.
The decision by the Biden/Harris administration in the last few weeks to seemingly accelerate the dumping of their ‘seized’ Bitcoin comes right as former President Trump outlined his Bitcoin strategy (including creating a Strategic Bitcoin Reserve).
The Harris campaign continues to desperately try and placate the crypto community – despite almost four years of nothing but hate for the sovereign currency and its heretical holders. Let’s see how Crypto-Kamala’s aides explain the ongoing dumping of assets.
END
ASIA TRADING/WEDNESDAY MORNING/TUESDAY NIGHT
SHANGHAI CLOSED DOWN 17.29 PTS OR 0.60% //Hang Seng CLOSED DOWN 60.70 PTS OR 0.35% // Nikkei CLOSED UP 209.92 OR 0.58%//Australia’s all ordinaries CLOSED UP 0.35%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1385 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1373/ Oil DOWN TO 78.10 dollars per barrel for WTI and BRENT UP AT 80.44 Stocks in Europe OPENED ALL GREEN
ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER
1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP TO 7.1385
OFFSHORE YUAN: UP TO 7.1373
SHANGHAI CLOSED DOWN 17.28 PTS OR 0.60 %
HANG SENG CLOSED DOWN 60.70 PTS OR 0.35%
2. Nikkei closed UP 209;92 PTS OR .58%
3. Europe stocks SO FAR: ALL GREEN
USA dollar INDEX DOWN TO 102.29 EURO RISES TO 1.1092 UP 27 BASIS PTS
3b Japan 10 YR bond yield: FALLS TO. +0.819 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.93…… 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 UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil DOWN for WTI and DOWN FOR BRENT this morning
3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.1980/Italian 10 Yr bond yield DOWN to 3.582 SPAIN 10 YR BOND YIELD DOWN TO 3.035%
3i Greek 10 year bond yield DOWN TO 3.257
3j Gold at $2475.20//Silver at: 27.91 1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40
3k USA vs Russian rouble;// Russian rouble UP 2 AND 00/ 100 roubles/dollar; ROUBLE AT 88.50
3m oil into the 78 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 146.92/ 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.819 % 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 0.8629 as the Swiss Franc is still rising against most currencies. Euro vs SF: 0.9513 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: 3.834 DOWN 2 BASIS PTS…
USA 30 YR BOND YIELD: 4.143 DOWN 2 BASIS PTS/
USA 2 YR BOND YIELD: 3.942 DOWN 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 33.54…
10 YR UK BOND YIELD: 3.882 DOWN 6 PTS
10 YR CANADA BOND YIELD: 3.047 DOWN 4 BASIS PTS
2a New York OPENING REPORT
Futures Flat In Cautious Trade Ahead Of CPI As Gold Nears Record High
WEDNESDAY, AUG 14, 2024 – 08:14 AM
Futures are flat, after trading in a narrow range overnight which saw Asian stocks gain and European bourses trade mostly higher, with tech down small and small-caps/Russell leading with bond yields up 1bps in the front of the yield curve. As of 7:45am, S&P futures are unchanged at 5,459 after soaring 1.7% on Tuesday, fueled by cooler-than-forecast PPI data while Nasdaq futures are down 0.1% with the Mag7 mixed as NVDA boosts Semis. 10Y yields are down again, sliding to 3.83%, and pushing the USD lower. Commodities are mixed with Energy/Precious higher and Base lower; China’s largest steelmaker warns of 2008-like downturn given the slump in domestic consumption. The macro focus is on CPI (our full preview is here) and Retail Sales tomorrow.
Alphabet shares dropped 1% in US premarket trading after Bloomberg News reported that the Justice Department is considering a push to break up Google. Kellanova rallied as Mars agreed to buy the Pringles chips maker for nearly $36 billion. Victoria’s Secret soared 15% as the company is poaching the top executive from Rihanna’s lingerie brand to lead the retailer’s turnaround. Here are some other notable premarket movers:
Acelyrin falls 11% after the company said it’s making a strategic shift to focus on the development of lonigutamab.
Brinker International slides 15% after the owner of Chili’s and Maggiano’s Little Italy reported fiscal fourth-quarter adjusted earnings per share that missed Wall Street expectations.
Cardinal Health rises 6% after the health-care distributor lifted its adjusted earnings per share forecast for 2025.
Flutter Entertainment jumps 7% after the operator of FanDuel online sportsbook reported second-quarter sales and profit that beat analyst expectations.
Global-e Online sinks 14% after the application software company cut its full-year forecasts.
Kellanova gains 7% as Mars Inc. agreed to buy the company for nearly $36 billion.
Mercury Systems climbs 11% after the defense company reported fiscal fourth-quarter revenue and adjusted earnings per share that topped Wall Street expectations.
Ouster drops 15% after the lidar technology company gave a revenue outlook that’s weaker than expected.
Turning to the main event, it’s CPI day in the US and, after three consecutive misses, forecasters expect a modest 0.2% increase in both the consumer price index and the core gauge excluding food and energy which would mark the smallest three-month rise for the latter since early 2021. That would leave the headline rate unchanged at 3%. Our full preview is here.
The easing of price pressures in the US has bolstered confidence that officials can start lowering borrowing costs and refocus on supporting the labor market.
“We think inflation is no longer going to be an issue for the Fed and they will be able to cut,” said Lilian Chovin, head of asset allocation at Coutts. “Growth is shifting down a gear after a very strong first half of the year, but that’s what the Fed wanted, and they’re about to achieve it. That is very positive news for market participants.”
The latest gains on Wall Street have pushed the S&P 500 closer to a key technical level, with the index just notching its biggest four-day rally this year.
“Earnings season has been quite good in the US and decent in Europe,” said Chovin at Coutts. “Revisions from analysts are turning positive across most regions which should support equities going forward.”
Europe’s Stoxx 600 Index was 0.2% higher, advancing for a second day as investors awaited US CPI data for clues on the health of the economy, and after UK inflation rose less than expected. Travel and leisure gains the most as Flutter surges. UBS rose after the bank’s second-quarter profit beat estimates. Basic resources lag and miners dropped as iron ore slumped to the lowest since May 2023 amid worries over demand in China. Here are the most notable European movers:
Flutter shares jump as much as 13% in London trading after the operator of the FanDuel online sportsbook reported second-quarter revenue that topped Wall Street expectations and boosted its full-year projections for revenue and adjusted Ebitda.
UBS rose as much as 3%, the best-performing stock in the Stoxx 600 Financial Services Index, after second-quarter profit at the Swiss lender beat expectations. Analysts say investment banking results offset weaker wealth management.
Straumann shares jump as much as 15%, the most since July 2002, after the Swiss dental equipment company reported better-than-expected results in the second quarter and lifted its outlook for the year.
JDE Peet’s gains as much as 8.5% after Jefferies upgrades to buy from hold and sets a Street-high price target, saying in note the Dutch coffee seller is making encouraging progress.
TUI shares advance as much as 6.1% after the travel and tourism firm reported third-quarter underlying Ebit that came ahead of estimates. Additionally, the company sees fares and bookings up this summer compared to last year.
Carlsberg shares rise as much as 3.5% after the Danish brewer upgraded its profit guidance, which Citi attributed to cost control and a strong third-quarter start in Europe. Gains were capped, however, by weaker-than-expected first-half growth, as poor weather in China and Europe undermined sales.
Talanx shares rise as much as 5.2%, the most since May 2023, after the insurance and financial services firm’s earnings surpassed estimates in the first half, according to Morgan Stanley, with management still confident the company can beat its full year net income target.
K+S shares rise as much as 2.3% after 2Q earnings as analysts flag higher volumes in German chemicals company’s Agriculture segment. They also expect relatively stable prices for company’s key product, potash, in rest of 2024.
Rio Tinto shares fall as much as 2.3% in London, with European mining stocks the worst-performing sector in the Stoxx 600 index, as iron ore extended its slump into a third day, after the world’s largest steel company flagged an industry-wide crisis in China, intensifying concerns about demand.
Thyssenkrupp shares fall as much as 4.7%, an intraday record-low level, after the German steel producer reported third-quarter results that showed a significant decline in new orders and sales after three forecast cuts in past months. Analysts highlight potential for further negative revisions from consensus.
RWE shares fall as much as 2% after the German energy firm’s first-half earnings dropped by almost a third due to a decline in power prices. Metzler says now that consensus has moved down, there could be scope for more positive surprises ahead.
Glanbia falls as much as 3.4%, the most since January 2023, as its half-year results offered a mixed picture, with strong performance in the optimum nutrition category offset by weakness in other divisions.
Earlier in the session, Asian stocks climbed for a fourth straight day, on track for its longest string of gains in over a month, ahead of a key US consumer price report. The MSCI Asia Pacific Index climbed 0.7%, with Toyota, TSMC and Samsung among the top contributors to the advance. Japanese stocks climbed to the highest since early August, after Prime Minister Fumio Kishida said he won’t run for a second term as leader of his party.
In FX, a Bloomberg gauge of the dollar slipped, trading around a four-month low. The pound fell against the dollar and UK government bonds jumped as British inflation data came in below forecasts. Consumer prices rose 2.2% in July against economists’ expectations of 2.3%. Traders fully priced a half-point of further Bank of England rate cuts by year-end for the first time since Aug. 5. The yen and Japanese stocks fluctuated as traders digested news that Prime Minister Fumio Kishida won’t run for a second term as leader of the long-ruling Liberal Democratic Party in September. The kiwi fell by over 1% after New Zealand’s central bank cut rates by 25 basis points, embarking on an easing cycle much sooner than previously indicated.
In rates, treasuries gained again supported by wider gains seen in gilts, where the UK curve bull steepens after headline, core and service CPI all rose less than expected in July and front-end BOE swaps subsequently added to the pricing of rate cut premium. Treasury yields slightly richer across the curve and near lows of the day heading into early US session. US 10-year yields around 3.83% and 1bp richer vs. Tuesday close with bunds lagging by 2.5bp in the sector and gilts outperforming by 3bp. US session focus switches to the July CPI print expected at 8:30am New York. July US CPI data is expected to be soft, driven by housing rents, user-car prices and discounts in discretionary services; bond market remains long heading into the data, as traders look for an aggressive pricing of Fed easing to be maintained. Fed-dated OIS is pricing in around 107bp of rate cuts for the year with roughly 37bp of easing priced into the September policy decision.
In commodities, oil first rose as an industry report pointed to a sizable drop in US crude stockpiles and tensions simmered in the Middle East, but then dipped ahead of the CPI report. Gold climbed toward a record high approaching $2500/oz. The weakness in iron ore deepened after the world’s biggest steel producer warned that China’s steel industry is facing a crisis more serious than the downturns of 2008 and 2015, likening conditions to a “severe winter.”
In crypto, Bitcoin continues to edge higher and now back above $61k.
US data slate includes only July CPI at 8:30am and no Fed speakers scheduled for the session
Market Snapshot
S&P 500 futures little changed at 5,459.00
STOXX Europe 600 up 0.4% to 503.78
MXAP up 0.7% to 179.00
MXAPJ up 0.5% to 559.67
Nikkei up 0.6% to 36,442.43
Topix up 1.1% to 2,581.90
Hang Seng Index down 0.4% to 17,113.36
Shanghai Composite down 0.6% to 2,850.65
Sensex up 0.2% to 79,131.58
Australia S&P/ASX 200 up 0.3% to 7,850.70
Kospi up 0.9% to 2,644.50
German 10Y yield little changed at 2.20%
Euro up 0.1% to $1.1009
Brent Futures up 0.6% to $81.17/bbl
Gold spot up 0.3% to $2,472.35
US Dollar Index little changed at 102.57
Top Overnight News
European stocks tracked an advance in Asian peers on bets that Wednesday’s US consumer price report will allow the Federal Reserve to start reducing interest rates in September.
Japanese Prime Minister Fumio Kishida won’t run for a second term as leader of the long-ruling Liberal Democratic Party in September, opening the way for a race to succeed him as premier.
Forecasters expect a monthly report on US consumer prices to show another modest increase last month, reinforcing widespread expectations for a Federal Reserve interest-rate cut in September.
Investors who’ve positioned for even more gains in the Treasury market are looking for US inflation data that reinforces the case for a faster pace of Federal Reserve interest-rate cuts.
UK inflation increased less than economists and the Bank of England had expected, prompting traders to bring forward bets on the pace of interest-rate cuts in the coming months.
Russia is withdrawing some of its military forces from Ukraine to respond to a Ukrainian offensive into Russian territory, U.S. officials said, the first sign that Kyiv’s incursion is forcing Moscow to rejigger its invasion force.
China’s economy probably failed to turn the corner on its worst stretch in five quarters, with an uneven recovery in July held back by consumer spending still lagging industrial activity and investment.
Central Bank Decisions: RBNZ
RBNZ cut the OCR by 25bps to 5.25% (vs. mixed views between a cut and a hold), while its projections point to a further reduction this year. RBNZ said inflation is declining and is returning to the target band, while it noted that the pace of further easing will depend on the committee’s confidence that pricing behaviour remains consistent with a low inflation environment. Members noted that monetary policy will need to remain restrictive for some time to ensure that domestic inflationary pressures continue to dissipate and the pace of further easing will thus be conditional on the committee’s confidence that pricing behaviour is continuing to adapt to a low-inflation environment. Furthermore, the committee agreed there was scope to temper the extent of monetary policy restraint, while it sees the OCR at 4.92% in December 2024 (previously 5.65%), 4.1% in September 2025 (previously 5.4%) and at 3.85% in December 2025 (previously 5.14%).
RBNZ Governor Orr noted confidence inflation back in its target band can commence re-normalising rates and said they considered a range of moves including 50bps but consensus was for 25bps, while he added that a 25bps rate cut is a relatively low-risk start and it is a reasonable first step for monetary easing with the central bank in a strong position to move calmly.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks only partially sustained the momentum from Wall St where risk sentiment was underpinned by softer-than-expected PPI data, while the region digested the RBNZ rate cut and PM Kishida’s decision to not join the LDP leadership race. ASX 200 advanced amid a slew of earnings including from index heavyweight and largest bank CBA. Nikkei 225 wiped out initial gains with trade driven by currency moves and after PM Kishida announced to step down. Hang Seng and Shanghai Comp. were subdued ahead of key earnings from Alibaba and Tencent, while participants also digested weaker-than-expected Chinese new loans and aggregate financing data.
Top Asian News
Japanese PM Kishida said it is important to show a new face of the LDP in the leadership race and the first step to do so is for him to step down, while he confirmed he won’t run for re-election as LDP leader and will fully support the new leader.
Hon Hai/Foxconn (2317 TT) Q2 (TWD) Net Income 35bln (exp. 34.5bln). EPS 2.53 (exp. 2.56). Operating Profit 44.6bln (exp. 41.06bln); expects Q3 and 2024 revenue to grow significantly Y/Y.
Foxconn (2317 TT) says visibility in FY business is better than in May; strong demand for AI server will continue. Business is to grow in Q4 Y/Y. Wil start delivery for Nvidia’s (NVDA) GB200 in Q4 in small volumes and further increase deliveries in Q1. AI server business will grow Q/Q this year and could beat Co’s own expectations. Co.’s leading position in AI servers will not be challenged easily due to production capacity and technology. Talks with potential EV customers in Japan are on track.
Tencent (700 HK): Q2 (CNY) Revenue 161.12bln (exp. 161.35bln), Adj. Net 57.31bln (exp. 48.67bln), Domestic Games Revenue 34.6bln (exp. 33.6bln), International Games Revenue 13.9bln (exp. 14.14bln). As of June 30th, combined MAU of Weixin and WeChat at 1.371bln. Did not declare dividend for 6-month period. Will continue to invest in AI.
European bourses, Stoxx 600 (+0.4%) are entirely in the green, continuing the optimism seen on Wall St in the prior session. European sectors hold a strong positive bias; Travel & Leisure takes the top spot, propped up by significant post-earning gains in Flutter. Financial Services is also towards the top of the pile, after UBS reported strong Q2 earnings. Basic Resources lags given the weakness in the metals complex. Futures are mixed, and price action has been rangebound ahead of today’s key risk event, US CPI.
Top European News
AstraZeneca’s Market Value Soars Past £200 Billion
Polish GDP Growth Tops Forecasts, Reducing Rate Cut Pressure
European Gas Prices Rise on Supply Concern in Fragile Market
Orsted Announces Debt Redemption
Turkey Cenbank Begins Buying Liras at Takasbank Money Market
UBS Profit Beats Estimates in Boost to Ermotti’s Buyback Plans
FX
USD is mixed vs peers with the DXY slipping below 102.50 in the run up to US CPI data. Fed pricing currently prices in circa 37bps of loosening for next month’s meeting with a total of 106bps of cuts priced by year-end.
EUR/USD is back on a 1.10 handle and eclipsing the 1.1008 peak printed on 5th August. In terms of levels to the upside, the YTD peak from Jan 2nd kicks in at 1.1038.
GBP is on the backfoot following softer-than-expected inflation metrics. The decline in services inflation will be welcomed by the MPC. Pricing for the September BoE meeting has moved in a dovish direction with a cut now seen at 42% vs. circa 36% pre-release. Cable maintains the 1.28 handle.
JPY is losing ground to the USD with the main macro update coming via PM Kishida’s decision to step down. Overall, the pair is tucked within yesterday’s 145.43-147.94 range with today’s CPI release likely to offer the next inflection point.
NZD is the laggard across the majors as the RBNZ delivered a 25bps cut (Governor Orr even suggested that 50bps was discussed), with market expectations mixed between a cut and a hold heading into the event. AUD/USD also pressured but to a lesser extent alongside downside in iron ore prices.
PBoC set USD/CNY mid-point at 7.1415 vs exp. 7.1493 (prev. 7.1479).
Fixed Income
USTs are unchanged ahead of US CPI. The 113-22 peak printed alongside the release of UK CPI before the benchmark then eased a touch, alongside EGBs, to the 113-19 mark where it remains.
Gilts are the relative outperformer, though off 100.57 best by around 20 ticks as fixed benchmarks generally ease a touch. Outperformance which was driven by the latest UK inflation data, which saw the headline pick-up by less than forecast and crucially the Services metric come in markedly cooler than expected.
Bunds drift lower. In the morning it experienced two-way action on UK CPI, but ultimately dipped below the 135.00 mark and then slipped further on a modest upward revision to French Final CPI.
France sells EUR 9bln vs exp. EUR 7.5-9bln 0.00% 2027, 2.75% 2029, 2.75% 2030, 0.00% 2031 OAT.
Germany sell EUR 0.803bln vs exp. EUR 1bln 2.50% 2054 Bund & EUR 0.798mln vs exp. 1bln 0.00% 2050 Bund.
Commodities
Crude gains thus far following yesterday’s lower settlement, following reports Iran’s attack may be limited and potentially delayed contingent on the Gaza ceasefire talks slated for tomorrow. Brent Oct sits in a 80.89-81.40/bbl range after dipping back under USD 82/bbl.
Firmer trade in the precious metals space despite a relatively steady Dollar, but amidst heightened geopolitics after Russia said issues regarding Ukrainian peace talks have been put on a long pause, meanwhile, sources suggested Hamas will not attend tomorrow’s ceasefire discussions in Doha.
Mixed trade across base metals awaiting US inflation data, with a performance contract seen between Western and Eastern futures. Dalian and SGX iron ore overnight fell to the lowest in over a year.
US Private Inventory data (bbls): Crude -5.2mln (exp. -2.2mln), Distillate +0.6mln (exp. -0.6mln), Gasoline -3.7mln (exp. -1.4mln), Cushing -2.3mln.
Union at BHP (BHP AT) Escondida mine said management is illegally replacing workers during the strike and said it is willing to hold talks with management to end the strike, while BHP said the union at the Escondida mine declined to restart talks after a new invitation.
Russia extends ban on gasoline exports until end of 2024, via Interfax.
India’s July Gold imports at USD 3.13bln (prev. 3.06bln M/M)
Geopolitics – Middle East
“Hamas will not participate in Doha’s ceasefire talks tomorrow, according to a senior official in the Palestinian factions, who was cited by Al-Mayadeen”, according to Walla’s Elster
Israeli media reported a rocket attack from southern Lebanon on Meron in the Upper Galilee with 40 rockets fired from southern Lebanon towards Jabal al-Jarmaq, according to Al Arabiya. Furthermore, Hezbollah announced the targeting of the base of Mount Neria in northern Israel in response to the raid on the town of Barashit in southern Lebanon, according to Sky News Arabia.
Support is reportedly increasing in Israel for an offensive against Hezbollah, according to WSJ.
Sources reported an Iran proxy attack on US troops at the Conoco base in eastern Syria with impacts outside its perimeter, while a US official said projectiles aimed in the direction of the US base in Syria did not impact the base and the attack was unsuccessful.
Iran is reportedly planning to resume testing nuclear bomb detonators and is actively working on the development of its clandestine nuclear weapons program, getting closer than ever to building a nuclear bomb, according to Iran International.
Geopolitics – Ukraine
Russia’s border region of Belgorod declares regional emergency because of attacks by Ukrainian forces, according to the regional governor.
Ukraine plans to hold its first follow-up international conference after the peace summit online in August in which the conference is to focus on energy security, according to the presidential office.
It was separately reported that a US official said the objective of Ukraine’s Kursk invasion appears to be to force Russia to pull troops out of Ukraine to defend Russian territory against this invasion.
IAEA said evidence continues to indicate that the fire at the Russia-controlled Zaporizhzhia nuclear plant in Ukraine did not start at the base of the cooling tower and no foreign objects were visible in the tower, while it added the impact of the fire on the structural integrity of the cooling tower needs to be assessed and there may be a need to dismantle it.
US Event Calendar
07:00: Aug. MBA Mortgage Applications, prior 6.9%
08:30: July Real Avg Hourly Earning YoY, prior 0.8%
08:30: July CPI Index NSA, est. 314.765, prior 314.175
08:30: July CPI YoY, est. 3.0%, prior 3.0%
08:30: July CPI Ex Food and Energy MoM, est. 0.2%, prior 0.1%
08:30: July CPI Ex Food and Energy YoY, est. 3.2%, prior 3.3%
08:30: July CPI Core Index SA, est. 318.958, prior 318.346
08:30: July Real Avg Weekly Earnings YoY, prior 0.6%, revised 0.5%
08:30: July CPI MoM, est. 0.2%, prior -0.1%
2B) European report
US equity futures trade tentatively & DXY below 102.50 ahead of US CPI, Kiwi underperforms post-RBNZ – Newsquawk US Market Open
Wednesday, Aug 14, 2024 – 06:11 AM
European equities are entirely in the green, US futures are mixed with price action tentative ahead of today’s US inflation report
DXY is mixed, EUR climbs above 1.10, Kiwi is the clear underperformer after the RBNZ cut by 25bps, with projections pointing towards further easing
USTs are essentially unchanged, Gilts benefit from softer-than-expected inflation metrics, with particular focus on the Services component
Crude is incrementally firmer, XAU gains and base metals are mixed
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EUROPEAN TRADE
EQUITIES
European bourses, Stoxx 600 (+0.4%) are entirely in the green, continuing the optimism seen on Wall St in the prior session.
European sectors hold a strong positive bias; Travel & Leisure takes the top spot, propped up by significant post-earning gains in Flutter. Financial Services is also towards the top of the pile, after UBS reported strong Q2 earnings. Basic Resources lags given the weakness in the metals complex.
Futures are mixed, and price action has been rangebound ahead of today’s key risk event, US CPI.
USD is mixed vs peers with the DXY slipping below 102.50 in the run up to US CPI data. Fed pricing currently prices in circa 37bps of loosening for next month’s meeting with a total of 106bps of cuts priced by year-end.
EUR/USD is back on a 1.10 handle and eclipsing the 1.1008 peak printed on 5th August. In terms of levels to the upside, the YTD peak from Jan 2nd kicks in at 1.1038.
GBP is on the backfoot following softer-than-expected inflation metrics. The decline in services inflation will be welcomed by the MPC. Pricing for the September BoE meeting has moved in a dovish direction with a cut now seen at 42% vs. circa 36% pre-release. Cable maintains the 1.28 handle.
JPY is losing ground to the USD with the main macro update coming via PM Kishida’s decision to step down. Overall, the pair is tucked within yesterday’s 145.43-147.94 range with today’s CPI release likely to offer the next inflection point.
NZD is the laggard across the majors as the RBNZ delivered a 25bps cut (Governor Orr even suggested that 50bps was discussed), with market expectations mixed between a cut and a hold heading into the event. AUD/USD also pressured but to a lesser extent alongside downside in iron ore prices.
PBoC set USD/CNY mid-point at 7.1415 vs exp. 7.1493 (prev. 7.1479).
USTs are unchanged ahead of US CPI. The 113-22 peak printed alongside the release of UK CPI before the benchmark then eased a touch, alongside EGBs, to the 113-19 mark where it remains.
Gilts are the relative outperformer, though off 100.57 best by around 20 ticks as fixed benchmarks generally ease a touch. Outperformance which was driven by the latest UK inflation data, which saw the headline pick-up by less than forecast and crucially the Services metric come in markedly cooler than expected.
Bunds drift lower. In the morning it experienced two-way action on UK CPI, but ultimately dipped below the 135.00 mark and then slipped further on a modest upward revision to French Final CPI.
France sells EUR 9bln vs exp. EUR 7.5-9bln 0.00% 2027, 2.75% 2029, 2.75% 2030, 0.00% 2031 OAT.
Germany sell EUR 0.803bln vs exp. EUR 1bln 2.50% 2054 Bund & EUR 0.798mln vs exp. 1bln 0.00% 2050 Bund.
Crude gains thus far following yesterday’s lower settlement, following reports Iran’s attack may be limited and potentially delayed contingent on the Gaza ceasefire talks slated for tomorrow. Brent Oct sits in a 80.89-81.40/bbl range after dipping back under USD 82/bbl.
Firmer trade in the precious metals space despite a relatively steady Dollar, but amidst heightened geopolitics after Russia said issues regarding Ukrainian peace talks have been put on a long pause, meanwhile, sources suggested Hamas will not attend tomorrow’s ceasefire discussions in Doha.
Mixed trade across base metals awaiting US inflation data, with a performance contract seen between Western and Eastern futures. Dalian and SGX iron ore overnight fell to the lowest in over a year.
US Private Inventory data (bbls): Crude -5.2mln (exp. -2.2mln), Distillate +0.6mln (exp. -0.6mln), Gasoline -3.7mln (exp. -1.4mln), Cushing -2.3mln.
Union at BHP (BHP AT) Escondida mine said management is illegally replacing workers during the strike and said it is willing to hold talks with management to end the strike, while BHP said the union at the Escondida mine declined to restart talks after a new invitation.
Russia extends ban on gasoline exports until end of 2024, via Interfax.
India’s July Gold imports at USD 3.13bln (prev. 3.06bln M/M)
RBNZ cut the OCR by 25bps to 5.25% (vs. mixed views between a cut and a hold), while its projections point to a further reduction this year. RBNZ said inflation is declining and is returning to the target band, while it noted that the pace of further easing will depend on the committee’s confidence that pricing behaviour remains consistent with a low inflation environment. Members noted that monetary policy will need to remain restrictive for some time to ensure that domestic inflationary pressures continue to dissipate and the pace of further easing will thus be conditional on the committee’s confidence that pricing behaviour is continuing to adapt to a low-inflation environment. Furthermore, the committee agreed there was scope to temper the extent of monetary policy restraint, while it sees the OCR at 4.92% in December 2024 (previously 5.65%), 4.1% in September 2025 (previously 5.4%) and at 3.85% in December 2025 (previously 5.14%).
RBNZ Governor Orr noted confidence inflation back in its target band can commence re-normalising rates and said they considered a range of moves including 50bps but consensus was for 25bps, while he added that a 25bps rate cut is a relatively low-risk start and it is a reasonable first step for monetary easing with the central bank in a strong position to move calmly.
NOTABLE DATA RECAP
UK CPI YY (Jul) 2.2% vs. Exp. 2.3% (Prev. 2.0%); Services YY 5.2% vs. Exp. 5.5% (Prev. 5.7%); Core YY 3.3% vs. Exp. 3.4% (Prev. 3.5%)
UK CPI MM (Jul) -0.2% vs. Exp. -0.1% (Prev. 0.1%); Services MM 0.5% vs. Exp. 0.8% (Prev. 0.6%); Core MM 0.1% vs. Exp. 0.2% (Prev. 0.2%)
Swedish CPIF YY (Jul) 1.7% vs. Exp. 1.6% (Prev. 1.3%); Ex Energy YY (Jul) 2.2% vs. Exp. 2.0% (Prev. 2.3%)
EU Employment Flash YY (Q2) 0.8% vs. Exp. 1.0% (Prev. 1.0%); Employment Flash QQ (Q2) 0.2% vs. Exp. 0.2% (Prev. 0.3%)
EU GDP Flash Estimate YY (Q2) 0.6% vs. Exp. 0.6% (Prev. 0.6%); Flash Estimate QQ (Q2) 0.3% vs. Exp. 0.3% (Prev. 0.3%)
French CPI (EU Norm) Final MM (Jul) 0.2% vs. Exp. 0.2% (Prev. 0.2%)
GEOPOLITICS
MIDDLE EAST
“Hamas will not participate in Doha’s ceasefire talks tomorrow, according to a senior official in the Palestinian factions, who was cited by Al-Mayadeen”, according to Walla’s Elster
Israeli media reported a rocket attack from southern Lebanon on Meron in the Upper Galilee with 40 rockets fired from southern Lebanon towards Jabal al-Jarmaq, according to Al Arabiya. Furthermore, Hezbollah announced the targeting of the base of Mount Neria in northern Israel in response to the raid on the town of Barashit in southern Lebanon, according to Sky News Arabia.
Support is reportedly increasing in Israel for an offensive against Hezbollah, according to WSJ.
Sources reported an Iran proxy attack on US troops at the Conoco base in eastern Syria with impacts outside its perimeter, while a US official said projectiles aimed in the direction of the US base in Syria did not impact the base and the attack was unsuccessful.
Iran is reportedly planning to resume testing nuclear bomb detonators and is actively working on the development of its clandestine nuclear weapons program, getting closer than ever to building a nuclear bomb, according to Iran International.
OTHER
Russia’s border region of Belgorod declares regional emergency because of attacks by Ukrainian forces, according to the regional governor.
Ukraine plans to hold its first follow-up international conference after the peace summit online in August in which the conference is to focus on energy security, according to the presidential office.
It was separately reported that a US official said the objective of Ukraine’s Kursk invasion appears to be to force Russia to pull troops out of Ukraine to defend Russian territory against this invasion.
IAEA said evidence continues to indicate that the fire at the Russia-controlled Zaporizhzhia nuclear plant in Ukraine did not start at the base of the cooling tower and no foreign objects were visible in the tower, while it added the impact of the fire on the structural integrity of the cooling tower needs to be assessed and there may be a need to dismantle it.
CRYPTO
Bitcoin continues to edge higher and now back above USD 60k.
APAC TRADE
APAC stocks only partially sustained the momentum from Wall St where risk sentiment was underpinned by softer-than-expected PPI data, while the region digested the RBNZ rate cut and PM Kishida’s decision to not join the LDP leadership race.
ASX 200 advanced amid a slew of earnings including from index heavyweight and largest bank CBA.
Nikkei 225 wiped out initial gains with trade driven by currency moves and after PM Kishida announced to step down.
Hang Seng and Shanghai Comp. were subdued ahead of key earnings from Alibaba and Tencent, while participants also digested weaker-than-expected Chinese new loans and aggregate financing data.
NOTABLE ASIA-PAC HEADLINES
Japanese PM Kishida said it is important to show a new face of the LDP in the leadership race and the first step to do so is for him to step down, while he confirmed he won’t run for re-election as LDP leader and will fully support the new leader.
Hon Hai/Foxconn (2317 TT) Q2 (TWD) Net Income 35bln (exp. 34.5bln). EPS 2.53 (exp. 2.56). Operating Profit 44.6bln (exp. 41.06bln); expects Q3 and 2024 revenue to grow significantly Y/Y.
Foxconn (2317 TT) says visibility in FY business is better than in May; strong demand for AI server will continue. Business is to grow in Q4 Y/Y. Wil start delivery for Nvidia’s (NVDA) GB200 in Q4 in small volumes and further increase deliveries in Q1. AI server business will grow Q/Q this year and could beat Co’s own expectations. Co.’s leading position in AI servers will not be challenged easily due to production capacity and technology. Talks with potential EV customers in Japan are on track.
Tencent (700 HK): Q2 (CNY) Revenue 161.12bln (exp. 161.35bln), Adj. Net 57.31bln (exp. 48.67bln), Domestic Games Revenue 34.6bln (exp. 33.6bln), International Games Revenue 13.9bln (exp. 14.14bln). As of June 30th, combined MAU of Weixin and WeChat at 1.371bln. Did not declare dividend for 6-month period. Will continue to invest in AI.
2C) ASIAN REPORT
NZD lags after the RBNZ cut, JPY unaffected by Kishida, US CPI ahead – Newsquawk Europe Market Open
Wednesday, Aug 14, 2024 – 01:31 AM
APAC stocks only partially sustained the momentum from Wall St where risk sentiment was underpinned by softer-than-expected PPI data.
RBNZ cut the OCR by 25bps to 5.25% (vs. mixed views between a cut and a hold); projections point to a further reduction this year.
Japanese PM Kishida confirmed he won’t run for re-election as LDP leader.
European equity futures indicate a mildly positive open with the Euro Stoxx 50 future up 0.3% after the cash market finished with gains of 0.5% on Tuesday.
DXY is steady above 102.50, NZD is the clear laggard post-RBNZ, JPY unfazed by Kishida stepping down.
Looking ahead, highlights include UK & US CPI, Supply from Germany & France, Earnings from Aviva & Cisco.
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US TRADE
EQUITIES
US stocks were underpinned with broad-based gains seen in the major indices following the cooler-than-expected US PPI data which pressured yields and the dollar, while the tech-heavy Nasdaq 100 (+2.5%) outperformed amid notable strength in Nvidia (+6.5%) and Tesla (+5.3%). As such, Technology and Consumer Discretionary sectors spearheaded the advances although energy lagged and closed in the red after oil prices pulled back as reports suggested Iran’s response may be limited.
SPX +1.7% at 5,434, NDX +2.5% at 19,006, DJIA +1.0% at 39,766, RUT +1.6% at 2,095
Fed’s Bostic (voter) said the balance of risks in the economy is getting back to level and he is willing to wait for the first rate cut but it is coming. Bostic said recent inflation data gives him more confidence they can get back to 2% and he wants to see ‘a little more’ data, while he stated that if the economy evolves as he expects, there would be a rate cut by the end of the year.
APAC TRADE
RBNZ
RBNZ cut the OCR by 25bps to 5.25% (vs. mixed views between a cut and a hold), while its projections point to a further reduction this year. RBNZ said inflation is declining and is returning to the target band, while it noted that the pace of further easing will depend on the committee’s confidence that pricing behaviour remains consistent with a low inflation environment. Members noted that monetary policy will need to remain restrictive for some time to ensure that domestic inflationary pressures continue to dissipate and the pace of further easing will thus be conditional on the committee’s confidence that pricing behaviour is continuing to adapt to a low-inflation environment. Furthermore, the committee agreed there was scope to temper the extent of monetary policy restraint, while it sees the OCR at 4.92% in December 2024 (previously 5.65%), 4.1% in September 2025 (previously 5.4%) and at 3.85% in December 2025 (previously 5.14%).
RBNZ Governor Orr noted confidence inflation back in its target band can commence re-normalising rates and said they considered a range of moves including 50bps but consensus was for 25bps, while he added that a 25bps rate cut is a relatively low-risk start and it is a reasonable first step for monetary easing with the central bank in a strong position to move calmly.
EQUITIES
APAC stocks only partially sustained the momentum from Wall St where risk sentiment was underpinned by softer-than-expected PPI data, while the region digested the RBNZ rate cut and PM Kishida’s decision to not join the LDP leadership race.
ASX 200 advanced amid a slew of earnings including from index heavyweight and largest bank CBA.
Nikkei 225 wiped out initial gains with trade driven by currency moves and after PM Kishida announced to step down.
Hang Seng and Shanghai Comp. were subdued ahead of key earnings from Alibaba and Tencent, while participants also digested weaker-than-expected Chinese new loans and aggregate financing data.
US equity futures took a breather after yesterday’s PPI-induced advances.
European equity futures indicate a mildly positive open with the Euro Stoxx 50 future up 0.3% after the cash market finished with gains of 0.5% on Tuesday.
FX
DXY found some slight reprieve after weakening yesterday on softer PPI data and as participants now await the latest CPI report, while there were comments from Fed’s Bostic that the balance of risks in the economy are getting back to level and he is willing to wait for the first rate cut but it is coming.
EUR/USD held on to the prior day’s spoils although further is upside capped by resistance at the 1.1000 level
GBP/USD plateaued after recent advances and with participants also awaiting the latest UK inflation data.
USD/JPY swung between gains and losses and traded on both sides of the 147.00 level with pressure seen amid post-RBNZ NZD/JPY selling and news that Japanese PM Kishida will not run for re-election as LDP leader next month.
Antipodeans wiped out early gains with NZD/USD heavily pressured after the RBNZ cut rates by 25bps and lowered the OCR projections which suggest another cut this year and for rates to decline to 4.10% by September 2025.
PBoC set USD/CNY mid-point at 7.1415 vs exp. 7.1493 (prev. 7.1479).
FIXED INCOME
10-year UST futures took a breather after climbing on the back of softer-than-expected PPI data and with CPI scheduled later.
Bund futures mildly pulled back beneath the 135.00 level after the prior day’s rally and with German supply ahead.
10-year JGB futures saw two-way price action and ultimately shrugged off a weaker 5-year JGB auction.
COMMODITIES
Crude futures nursed some of yesterday’s losses amid geopolitical uncertainty and bullish private sector crude inventory data.
US Private Inventory data (bbls): Crude -5.2mln (exp. -2.2mln), Distillate +0.6mln (exp. -0.6mln), Gasoline -3.7mln (exp. -1.4mln), Cushing -2.3mln.
Spot gold traded rangebound as participants looked ahead to the incoming US inflation data.
Copper futures were indecisive with initial support amid the mostly positive risk tone but then faltered as sentiment waned.
Union at BHP (BHP AT) Escondida mine said management is illegally replacing workers during the strike and said it is willing to hold talks with management to end the strike, while BHP said the union at the Escondida mine declined to restart talks after a new invitation.
CRYPTO
Bitcoin gradually edged higher and briefly climbed above the USD 61,000 level.
NOTABLE ASIA-PAC HEADLINES
Japanese PM Kishida said it is important to show a new face of the LDP in the leadership race and the first step to do so is for him to step down, while he confirmed he won’t run for re-election as LDP leader and will fully support the new leader.
GEOPOLITICAL
MIDDLE EAST
Israeli media reported a rocket attack from southern Lebanon on Meron in the Upper Galilee with 40 rockets fired from southern Lebanon towards Jabal al-Jarmaq, according to Al Arabiya. Furthermore, Hezbollah announced the targeting of the base of Mount Neria in northern Israel in response to the raid on the town of Barashit in southern Lebanon, according to Sky News Arabia.
Support is reportedly increasing in Israel for an offensive against Hezbollah, according to WSJ.
Sources reported an Iran proxy attack on US troops at the Conoco base in eastern Syria with impacts outside its perimeter, while a US official said projectiles aimed in the direction of the US base in Syria did not impact the base and the attack was unsuccessful.
Iranian officials said only a Gaza ceasefire could delay Iran’s response towards Israel, according to Reuters citing sources.
Iran is reportedly planning to resume testing nuclear bomb detonators and is actively working on the development of its clandestine nuclear weapons program, getting closer than ever to building a nuclear bomb, according to Iran International.
US President Biden responded “that’s my expectation” when asked if he expected Iran to skip a retaliatory strike if a Gaza ceasefire deal was reached.
US Secretary of State Blinken has postponed his trip to the Middle East and won’t travel to the region on Tuesday due to the uncertainty about the situation, according to Axios citing sources. Furthermore, US officials also told Axios they did not expect an Iranian attack on Tuesday.
White House official said national security officials McGurk and Hochstein will travel to the Middle East to work on a ceasefire deal and to de-escalate tensions.
Pentagon said it continues to focus on securing a ceasefire in Gaza as part of the hostage deal, while it was noted that it has increased military capabilities to defend Israel but is working to reduce tension.
Pentagon said the US State Department approved a possible foreign military sale to Israel of F-15IA and F-15I+ aircraft for USD 18.82bln, while it approved the potential sale of the advanced medium-range air-to-air missiles to Israel for an estimated USD 102.5mln.
OTHER
Russia’s border region of Belgorod declares regional emergency because of attacks by Ukrainian forces, according to the regional governor.
Ukrainian President Zelenskiy said Ukraine controls 74 settlements in Russia’s Kursk region and Kyiv’s forces advanced 1-3kms inside Russia in the last 24 hours, while it was noted that forces took over 40 square kilometres of new Russian territory.
Ukraine plans to hold its first follow-up international conference after the peace summit online in August in which the conference is to focus on energy security, according to the presidential office.
US State Department said the US is not engaged in any aspect, planning or preparation of Ukraine’s incursion into Russia. It was separately reported that a US official said the objective of Ukraine’s Kursk invasion appears to be to force Russia to pull troops out of Ukraine to defend Russian territory against this invasion.
IAEA said evidence continues to indicate that the fire at the Russia-controlled Zaporizhzhia nuclear plant in Ukraine did not start at the base of the cooling tower and no foreign objects were visible in the tower, while it added the impact of the fire on the structural integrity of the cooling tower needs to be assessed and there may be a need to dismantle it.
2D JAPAN
Japan’s PM Kishida Announces Resignation Amid Scandals, Opening Door To Political Chaos
WEDNESDAY, AUG 14, 2024 – 09:25 AM
After the late Shinzo Abe valiantly tried to break Japan’s dismal tradition of having Prime Ministers who last on average about a year – before quitting and eventually getting assassinated – it appears that Japan is back to its own ungovernable self.
On Wednesday morning, Japan’s Prime Minister Fumio Kishida surprised markets when he said he would step down as leader of the ruling Liberal Democratic party in September and effectively end his tenure as the country’s prime minister, ending months of speculation over his ability to survive scandal and rising living costs.
At a press conference on Wednesday, Kishida said he would not seek re-election at next month’s internal poll for the LDP presidency, which in effect grants the holder the position of Japanese prime minister.
“Japan continues to face tough situations at home and abroad. It is extremely important that we tackle these issues with a firm hand,” Kishida said. “The first and clearest step to show that the LDP is changing is for me to step down.”
Kishida said his decision was based on the need to restore trust in politics, and that an ideal successor would be reform-minded.
“Trust in politics and trust from the people is critical,” he told reporters. “It is only by regaining the understanding and trust of the general public that we can move forward, and this is why the LDP must change.”
In short, Kishida wants to get the hell out of Dodge before all hell breaks loose again.
The unexpected shake-up comes at a key moment for Japan, which as the FT reports, has taken on a more muscular defense role in the Pacific and deepened security co-operation with the US in the face of a rising China. The country’s economy also began to emerge from a decades-long campaign against deflation and low growth, while its equity markets have become a favored destination for investors seeking an alternative to China amid rising geopolitical risks.
But Kishida’s three-year premiership was dogged by low approval ratings, caused in large part by a political funding scandal that forced him to sack four cabinet ministers in 2023. In February, a poll by the Mainichi newspaper found that only 14% of voters approved of his administration’s performance, far below the 30% level that has felled previous Japanese prime ministers. The recent transitory surge in inflation – it’s transitory because Japan has the highest debt load of any country in the world at over 400% of total debt including government and corporate – did not help Kishida’s approval either.
Political analysts have ascribed Kishida’s survival to the weakness of Japan’s opposition parties and a dearth of serious challengers within the LDP.
As the FT notes, Kishida’s decision came as a surprise within the LDP, where very senior figures had firmly believed that the prime minister intended to stand in the leadership election, according to several people close to the cabinet.
By pulling out of the leadership election, which is expected to be held around September 20, Kishida, 67, opens the way for multiple candidates to compete for the position. Speculation among political analysts on his most likely successor has centred on former trade minister Toshimitsu Motegi, 68, former defense minister Shigeru Ishiba, 67, and former foreign minister Taro Kono, 61, all career politicians.
“It is important to show a new face of the LDP in this leadership race,” Kishida said.
Masatoshi Honda, a political analyst and academic, said the depth of the LDP’s woes meant the leadership contest would attract candidates who under normal circumstances would not be seen as potential contenders. But public dissatisfaction with the ruling party went well beyond its top leadership. “Whoever wins, it will be very difficult to revive support for the LDP,” Honda said. One possible younger contender is Takayuki Kobayashi, 49, a graduate of the Harvard Kennedy School, who is credited with showing a steady hand as economic security minister from 2021-22.
Whoever is elected LDP president can expect to lead the party into a general election that must be held by the end of October 2025.
Business executives said one critical question was whether the next LDP leader would be experienced and tough enough to deal with international challenges, including an increasingly assertive China and the possible re-election of Donald Trump as US president.
Kishida, who previously served as foreign minister, came to power in October 2021 with a promise of establishing a “New Capitalism”. His initial failure to fully explain his plans for wealth redistribution resulted in a rapid collapse in the Tokyo stock market that became known as the “Kishida Shock”. Ironically, his tenure ended with another shock, this time the result of the logical rate hike meant to contain Japan’s runaway inflation, which sent stocks plummeting, and forced the BOJ to quickly backtrack effectively promising no more rate hikes.
That said, Kishida’s three-year term included a number of modest achievements that had eluded his predecessors, including a landmark increase in Japanese defence spending in 2022 that would, in stages, raise the military budget from about 1% of gross domestic product to roughly 2% over five years.
Kishida’s efforts to convince corporate Japan to raise wages also bore fruit. This year’s shunto wage negotiations in March secured the largest pay increase since 1991 for workers at large companies. Alas, that has since led to the highest inflation in Japan in generations, and forced the BOJ to hike rates, jeopardizing the stability of the Japanese bond market, the world’s biggest financial Frankenstein monster, where the BOJ owns more than half of all JGBs.
US ambassador to Japan Rahm Emanuel on Wednesday hailed the departing prime minister as “a true friend” of Washington.
“Kishida worked with President Biden to open a new chapter in the US-Japan relationship, which went from alliance protection to alliance projection,” said Emanuel.
3 CHINA
CHINA/
4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS
EU/MUSK/TRUMP
The EU are being threatened by free speech. EU are frightened by the Trump Presidency
(zerohedge)
EU Disavows “Attention-Seeking Politician” Thierry Breton Over ‘Electoral Interference’ Letter Threatening Musk
TUESDAY, AUG 13, 2024 – 06:00 PM
With Monday night’s unfiltered discussion between Donald Trump and Elon Musk generating a reported billion views, it’s no wonder the left collectively freaked out.
Not only did the Washington Post ask the White House if there was anything they could do to stop the conversation from taking place…
The Washington Post’s Cleve Wootson: “One more, @ElonMusk is slated to interview [@realDonaldTrump] tomorrow — tonight on — on @X. I don't know if the president is going to — feel free to say if he is or not — but I — I think that misinformation on Twitter is not just a campaign… pic.twitter.com/zKxJNF1zbf
…The EU’s Thierry Breton, the current Commissioner for Internal Market of the EU, sent a letter to Musk threatening X with punishment if they didn’t crack down on “content that promotes hatred, disorder, incitement to violence, or certain instances of disinformation.”
In a harsh rebuke, Brussels has accused Breton of going rogue with the letter to Musk – saying he never sought approval from European Commission president Ursula von der Leyen to send the letter.
“The timing and the wording of the letter were neither co-ordinated or agreed with the president nor with the [commissioners],” the Commission said in a Tuesday statement reported by the Financial Times.
“Thierry has his own mind and way of working and thinking,” said one EU official who asked not to be named.
As the Times notes (lol), “Musk responded to the letter from Breton with a meme from the 2008 film Tropic Thunder, that showed one character yelling: “Take a big step back and literally fuck your own face.”“
Politico Europereports that four separate EU officials said that Breton’s threat to Musk caught many off guard within the Commission.
“The EU is not in the business of electoral interference,” said one of those officials. “DSA implementation is too important to be misused by an attention-seeking politician in search of his next big job.”
Meanwhile, a Trump campaign spokesperson responded by saying “The European Union should mind their own business instead of trying to meddle in the US presidential election,” while Musk later posted that he would be “happy to host” Kamala Harris for a similar discussion.
In response to Breton’s letter, X CEO Linda Yaccarino said it was an “unprecedented attempt to stretch a law intended to apply in Europe to political activities in the US,” while Trump campaign official Chris LaCivita said that the “European Union is attempting to meddle in the US Election,” adding “They can go to hell.”
END
This is a very interesting commentary from Brandon Smith. He thinks that globalists plan to use migrants as a mercenary army against the west
(Brandon Smith)
Britain Is Proof: Globalists Plan To Use Migrants As A Mercenary Army Against The West
Why do western officials insist on gaslighting the public on illegal border crossings?
Why do they attempt to destroy anyone that publicly opposes mass immigration from the third world?
The laws on the books support the public’s majority position on immigration – Come here legally or don’t come here at all.
In Europe, the UK and the US polls show a majority of citizens want reductions in immigration and better border security.
Yet, government officials, who often claim to be “protecting democracy,” brazenly ignore these majority concerns. Why?
For many years now I have offered a specific theory on the true agenda behind open border policies in western countries and I believe this theory answers most of questions surrounding illegal immigration.
The common claim within the Liberty Movement is that this is all part of the “Cloward-Piven Strategy”: A social engineering method which uses large scale relocation of migrants into a society in order to destabilize that nation. The goal is to import people with a incompatible or hostile ideology and, eventually, the target culture will break down and be forced to accept a new system of governance (i.e. from free markets and liberty to communism and slavery).
If western populations are unified in opposing the globalist ideology then the task of deconstruction becomes impossible for them. So, they simply destroy the west from within by introducing millions of people that will NEVER assimilate or unify.
My theory goes beyond the Cloward-Piven explanation, though.
I think there is a deeper and even more sinister purpose to the introduction of third world migrants to the US and Europe.
“I have mentioned this in previous articles and I continue to believe that one of the main purposes for the establishment to leave borders open and entice illegals to enter is to create a migrant army; a situation in which millions of illegals will be offered easy citizenship in exchange for service. I also believe that this migrant army will be used against the American public (the real citizenry) to impose martial law measures in the wake of a national disaster…”
In other words, my argument was that migrants from the third-world are not merely being used as unwitting tools for cultural saturation of the west. They’re not being shipped in by the millions to simply live off the fruits of our labor and our ancestors’ labors. I believe they are being brought into the US, the UK and Europe as enforcers for the establishment.
Think about it – They are essentially bought and paid for. They are mercenaries recruited with offers of easy citizenship, government handouts and the opportunity to brutalize the very western (and generally white) populations they despise. And, they are allowed to do this while hiding behind government law enforcement agencies for protection.
With a two tier policing system in place, the migrants can do whatever they want without much fear of repercussions. In Europe there is the added problem of expanding Islamic immigration which is directed by religious doctrine to conquer non-believers. From the Quran:
Quran [9:29] Fight those who do not believe in Allah or in the Last Day and who do not consider unlawful what Allah and His Messenger have made unlawful and who do not adopt the religion of truth from those who were given the Scripture – [fight] until they give the jizyah willingly while they are humbled.
Third world migrants are hired muscle for the political elites. They can terrorize the populace, and if the native population takes action to defend itself the government can step in, call them hateful racists and declare martial law. It’s a win-win. The migrants then help with the enforcement of that martial law as the government doubles down on two-tier policing.
There are those that insist the anti-immigration position is a “false paradigm.” The notion of “false paradigms” has become a plague among liberty movement thinkers that needs to be abandoned. The reality is that we are not just fighting the globalists, we also have to fight the people that wittingly or unwittingly aid the globalists. The elites help instigate conflicts, but many of these divisions already exist without their influence.
For example, third-world cultures are intrinsically violent and authoritarian. The top 20 most violent nations and most oppressive nations in the world are also the same nations sending caravans of migrants our way. Progressives will claim that’s a good thing and that we need to help these people. It’s not a good thing and most of them can’t be helped because they aren’t coming here to be free, they are coming here to take whatever they can take.
The majority of people from these regions will never be able to coexist peacefully within western communities. They don’t understand freedom, they don’t understand diplomacy, they don’t understand compromise. For them, tolerance is not a virtue, it’s a weakness that can be exploited to their advantage. This is a fact proven time and time again as mass migrations accelerates and I think my theory has recently been vindicated by events in the UK.
British citizens have been victimized for over a decade by migrant attacks and organized crime. The two-tier policing system in the UK continues to protect these migrants from retribution while the government hides statistics that show how much violence is being committed by non-citizens.
The British riots last week were a rare moment when patriots finally spoke out on open borders and took to the streets, only to be declared “Nazis” and “racists”. The use of riot police to quell property damage and fighting would be understandable to a point, except that aggressive migrant protests had been ongoing for months with very little police interference. Again, the two-tier policing is obvious.
Then, British Prime Minister Keir Starmer made a statement admonishing patriot protests and defending migrants. No referendum on immigration has been offered. He has not once acknowledged the problem of rising migrant crime and has essentially declared war on patriots.
In July the Labour Party was reportedly in the process of creating of a new “Muslim leadership group” intended to become the primary point of engagement between Keir Starmer’s government and Muslim communities in the UK. A draft document setting out plans for the network describes its core objectives, including “to influence public policy in a way that safeguards and promotes the rights of British Muslims”, and “to influence the media debate around Muslims in Britain”. In other words, propaganda to silence native dissent.
Muslim migrant gangs, calling themselves the “Muslim Defense League” (MDL) saw Starmer’s speech as an invitation to stalk the streets of British towns armed with knives and machetes; moving from street to street attacking white Brits at random.
The migrants made it clear that their purpose was to “assert dominance” over Brits and frighten them into submission. So far UK officials deny that the Muslim gangs exist. The media has refused to cover most of the activities of migrant gangs and has placed all blame on native patriots. One of the only places you can see any video evidence exposing migrant gangs is on Elon Musk’s X (formerly Twitter). Musk as also been attacked by UK officials for “fomenting unrest”, simply because he doesn’t censor the footage.
Meanwhile, Keir Starmer and other government officials have been meeting with Muslim groups to reassure them that the government is on their side. The migrants are now emboldened to do as they please while the Brits face the reality that if they fight back, the government will put them in prison. The migrants are now, in the most basic sense, a mercenary wing of the UK government.
This dynamic is even more undeniable when we look at the move by the UK government to remove Christian-related events from the British military while encouraging Muslim recruiting. Keep in mind, last week the UK government threatened the possibility of the military being used on the British people. Corrupt empires throughout history have preferred using foreign mercenaries to suppress their own citizens. It’s no coincidence that such a large percentage of the people coming from the third-world (around 80%) are military age men.
The post-war British populace has long lived without a relationship to true violence. Sure, they have football riots and brawls, but I’m talking about cold, calculated ethnic warfare designed to subjugate. Alien migrants coming from Africa and the Middle East are intimately familiar with such violence. They know it well and have embraced it totally as a part of their culture.
Not very many Brits are capable of comprehending a knife attack on a children’s dance recital, or the mass stabbing of toddlers playing in a park, or the operation of organized rape gangs that kidnap teens. When you first experience this kind of demonic will, it can be petrifying. I fear the British people are facing something so far outside of their wheelhouse that they may not know how to deal with it. The combination of organized migrant crime and government oppression might browbeat Brits into devastating apathy.
I suspect that the situation in the UK is just a precursor to what we will soon see in the US. Starmer is a die-hard advocate of the World Economic Forum and he is following their program to the letter. The conditions in the UK are what the Davos crowd wants everywhere.
Regardless of the outcome of the US elections in November the illegal immigration crisis will be central to everything we do in the next couple years. If leftists remain in political power then it is likely that we will see a similar attempt at a crackdown on patriots from an arrogant Harris Administration.
I believe Harris will most definitely offer citizenship to every illegal already in the country (many of them in exchange for military service), buying a mercenary force and a progressive voting block at the same time, ending any chance of conservatives ever participating in government again.
In the case of a second Trump Administration the situation changes. The removal of illegal migrants will be the top issue and leftists in the US will try to prevent it. They view the migrants as the key to their kingdom; the way to “destroy capitalism” and bring in woke socialism. Removal of illegals would set them back decades. Leftists will riot rather than lose. It’s a certainty.
The difference is, US patriots are armed (50 million strong with over 400 million guns and hundreds of billions of rounds of ammunition). I’m now receiving a lot of emails these days from UK and European readers who say they are desperate for the same firearms rights we have in the US. They all tell me, “never give up your guns.” Don’t worry, we won’t. We know what’s coming thanks to the events in the UK.
* * *
END
ENGLAND
English courts are now a two tier system:
61-Year-Old Brit Gets 18 Month Prison Sentence For Chanting “Who The F**k Is Allah”
A 61-year-old man in the UK was jailed for 18 months for chanting “who the fuck is Allah” and telling police officers “you’re not English anymore” during a protest outside Downing Street.
Yes really.
The sentence handed out to David Spring is the latest shocking example of how low the bar has now been set in terms of free speech in response to rioting that occurred after the murder of three girls in Southport last month.
Spring attended a demonstration of around 700 people in London on July 31 which turned disorderly.
Police bodycam footage that was played in court showed Spring calling police officers “cunts,” making “hostile gestures” and joining in with chants of “who the fuck is Allah” and “you’re not English anymore.”
While Spring’s behavior could be described as offensive and unruly, the fact that he will spent the next year and a half behind bars for saying mean words exemplifies how the UK has slipped into extreme authoritarianism in the space of just two weeks.
When he was arrested, Spring told police, “I didn’t go up to London to riot. I went to complain about people put up in hotels,” referring to illegal immigrants staying in hotels at taxpayer expense.
Defending lawyer Piers Kiss-Wilson said, “The defendant asked me to put forward his apologies to the court and he says he is embarrassed by his behaviour and he is ashamed by it.”
“He also wants to apologise to his family and friends and his wife who don’t deserve this.”
The man’s wife, who suffers from ill health, will now be deprived of her primary carer thanks to Spring’s imprisonment.
Two headlines Two legal judgments Two tier country This is the United Kingdom
The question once again arises as to why these individuals are continuing to plead guilty despite the fact that it is not preventing them from being handed jail time.
Despite the fact that the legislation surrounding hate speech and incitement is more draconian in the UK than in numerous other major western countries, one would think a good free speech lawyer would be able to defend these people more adeptly.
As we highlighted yesterday, Spring’s sentence is only outdone in its absurdity by cases where online speech of people who never even attended riots is leading to prison sentences.
Another man was imprisoned for 2 months merely for posting the words “coming to a town near you” alongside images of Muslim men on Facebook.
* * *
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
END
GERMANY
Polish citizen Volodymyr Z sought.
This should turn out to be fascinating!!
Germany Issues First Arrest Warrant In Nord Stream Sabotage Investigation
WEDNESDAY, AUG 14, 2024 – 10:05 AM
The Nord Stream pipeline explosion was one the largest acts of industrial sabotage in modern history. Nearly two years later, speculation continues to swirl about who was behind the attack.
Was it the CIA, as famed journalist and Pulitzer prize winner Seymour Hersh claimed? Did the Russians blow up their own undersea pipeline in the Baltic Sea? Or was it a Ukrainian commando with a sailing yacht?
A new report surfaced on Wednesday, released by several German media outlets, including ARD, Sueddeutsche Zeitung, and Die Zeit. Itdetails how German officials obtained an arrest warrant for a Ukrainian citizen named ‘Volodymyr Z’ in June, who was living in Poland at the time.
Polish National Public Prosecutor’s Office spokeswoman Anna Adamiak told Reuters that the arrest warrant was sent to the District Prosecutor’s Office in Warsaw in June.
Volodymyr Z was a diver wanted in connection with the Nord Stream explosion that rocked the NatGas pipeline, which stretches from Russia to Germany, in September 2022.
“Ultimately, Volodymyr Z. was not detained, because at the beginning of July he left Polish territory, crossing the Polish-Ukrainian border,” Adamiak said.
She continued, “Free crossing of the Polish-Ukrainian border by the above-mentioned person was possible because German authorities… did not include him in the database of wanted persons, which meant that the Polish Border Guard had no knowledge and no grounds to detain Volodymyr Z.”
Nearly two years after the Nord Stream pipelines sabotage, German authorities have reportedly issued an arrest warrant. The suspect, a Ukrainian national, was named only as Volodymyr Z. for privacy reasons.
In early 2023, months after the pipeline attack, journalist Seymour Hersh published a bombshell report on his Substack that alleged the US blew up the Russia-to-Germany NatGas pipeline as part of a covert operation under the guise of the BALTOPS 22 NATO exercise.
“The Navy proposed using a newly commissioned submarine to assault the pipeline directly. The Air Force discussed dropping bombs with delayed fuses that could be set off remotely. The CIA argued that whatever was done, it would have to be covert. Everyone involved understood the stakes,” the report, entitled How America Took Out The Nord StreamPipeline, reads.
Days after the explosion, America’s corporate media outlets pushed this propaganda.
One can’t help but wonder if the latest push by EU corporate media is yet another misinformation and disinformation campaign to shift the blame from the US to Ukraine.
5/RUSSIAN AND MIDDLE EASTERN AFFAIRS
ISRAEL/USA
Blinken approves sales to Israel of military equipment over $20 billion
(Jerusalem Post)
Blinken approves sale to Israel of military equipment worth over $20b.
While approving weapons to Israel, Washington has also tried to arrange a ceasefire deal in Gaza that would potentially stave off a wider Middle East war.
By REUTERSAUGUST 13, 2024 22:19Updated: AUGUST 14, 2024 03:17
US Secretary of State Antony Blinken attends a joint press conference during the 2024 Australia-US Ministerial Consultations (AUSMIN) at the US Naval Academy in Annapolis, Maryland, US, August 6, 2024.(photo credit: REUTERS/KEVIN MOHATT)
US Secretary of State Antony Blinken on Tuesday approved the possible sale to Israel of fighter jets and other military equipment worth over $20 billion, the Pentagon said.
In a statement, the Pentagon said Blinken approved the possible sale of F-15 jets and equipment worth nearly $19 billion. He also approved the possible sale of tank cartridges worth around $774 million and army vehicles worth $583 million, the Pentagon said.
The tank rounds would be almost immediately available for delivery. The Boeing Co F-15 fighter jets would take years to produce and deliver.
A F-15 fighter jet flies during a graduation ceremony for Israeli Air Force pilots at Hatzerim Airbase, in southern Israel, June 29, 2023. (credit: REUTERS/AMIR COHEN)
The US has staunchly supported Israel as its top Middle East ally prosecutes a war in the Gaza Strip that has devastated the Palestinian enclave. The war was set off by Hamas’ Oct. 7 terror attack in southern Israel.
A ceasefire deal
While approving weapons to Israel, Washington has also tried to arrange a ceasefire deal in Gaza that would potentially stave off a wider Middle East war.
Fears of a broader war have increased since the recent killings of Hamas leader Ismail Haniyeh in Iran and Hezbollah military commander Fuad Shukr in Beirut. Both drew threats of retaliation against Israel.
END
/ISRAEL/HAMAS
WATCH: IDF reveals Hamas launched rockets from humanitarian area in civilian clothes
Hamas deliberately embedded its military assets used to carry out attacks against Israel next to humanitarian infrastructure and the civilian population.
Infographic showing where Hamas terrorists launched rockets from near the humanitarian aid route in Khan Yunis in the Gaza Strip.(photo credit: IDF SPOKESPERSON’S UNIT)
Hamas launched rockets from a site near the Humanitarian Aid Route in Khan Yunis toward central Israel on Tuesday, the IDF announced on Wednesday.
Shortly afterward, the IAF struck terrorist targets in the area from which the rockets were launched.
The strikes were carried out adjacent to the launch site, outside of the Humanitarian Aid Route. The IDF noted in a statement that Hamas continues to place rocket launchers next to humanitarian and civilian sites in Gaza.
IDF International Spokesperson Lt.-Col. Nadav Shoshani shared a video on X, formerly Twitter, showing Hamas terrorists in civilian clothes launching rockets from within tents near the humanitarian zone in Khan Yunis.
Publishing their crimes
“Hamas terrorists continue to terrorize Israelis and endanger the Gazans around them,” Shoshani said.
Hamas terrorists continue to terrorize Israelis and endanger the Gazans around them.
This is a video showing how Hamas terrorists, dressed in civilian clothing, launched two rockets towards central Israel today from a humanitarian area.
“This is a video showing how Hamas terrorists, dressed in civilian clothing, launched two rockets towards central Israel today from a humanitarian area. Once again, Hamas is putting Gazan civilians at risk in an attempt to harm Israelis,” he concluded
According to a later IDF report, IDF soldiers dismantled Hamas terrorist infrastructure, sniper, and observation posts, with the IAF striking over 40 such targets through the Gaza Strip, including structures from which terrorists fired anti-tank missiles
END
ISRAEL/HAMAS
IDF temporarily closes humanitarian corridor in Gaza after Hamas fires at it
The IDF has temporarily closed the humanitarian corridor in the Rafah area because Hamas terrorists opened fire on the corridor, rendering it an active combat zone, according to the IDF.
“Terrorist activities in humanitarian areas and population centers disrupt humanitarian coordination and the distribution of aid to Gaza’s residents. The IDF will continue to operate in accordance with international law to facilitate and ease the provision of humanitarian aid to the residents of the Gaza Strip.” The IDF added in an official statement.
END
ISRAEL//USA
Many are asking this question!
(Jerusalem Post)
Who Is Running America? NYT Discloses Lloyd Austin ‘Ordered’ Major Deployment To Conflict Zone
Wednesday, Aug 14, 2024 – 04:15 AM
A Monday NY Times report revealed of Defense Secretary Lloyd Austin’s recent phone call with Israeli counterpart, Yoav Gallant, the following: “In an unusual disclosure, it saidMr. Austin had ordered a submarine to the Middle East.” This line alone begs the question, where is the elected civilian authority of the executive branch, the Commander-in-Chief, right now? And where is Congressional authority and oversight to wage war and put troops in harm’s way? NY Times described further that in the call Austin “reiterated the United States’ commitment to take every possible step to defend Israel.”
Journalist Glenn Greenwald has some similar questions which every American should be asking right now at this dangerous moment the United States is deeply involved in no less than two major wars simultaneously (by heavily funding and arming one side of each)…
Major US military assets are being deployed to the Middle East as a regional war becomes increasingly possible. The NYT says all this was “ordered” by Defense Sec. Austin “to take every possible step to defend Israel.” Is the President involved? Anyone know if Kamala agrees?
Or to put it another way: who is currently in charge over at the White House? Have we now reached such a post-Constitutional arrangement that that the major decisions of war and peace are being made by a military-intelligence complex beholden to no one? (…akin to what’s more commonly the case in Third World Banana Republics).
Comedian and Libertarian commentator Dave Smith just went on Tucker Carlson’s show and voiced a similar theme. Here is what he said according to the transcript:
“It’s the greatest scandal in American history… we don’t have a president. The President of the United States, everyone has essentially admitted, is too senile to run for president.
Yet he’s going to be president until January?
We are in a proxy war with the biggest nuclear power in the history of the world, and we have another proxy war-ish type thing devolving into a wider regional war in Israel, and we don’t have a president.”
Not long following this interview, President Biden briefly emerged and fielded a few impromptu questions from the press, and let’s just say it did not instill confidence:
REPORTER: "What do you have to say about what's happening in Russia and Ukraine?"
BIDEN: "I have spoken with my staff on a regular basis, probably every 4 or 5 hours for the last 6 or 8 days, and it's creating a real dilemma for Putin."
Likely, the assumption of a huge portion of the American public is that Vice President Kamala Harris is basically running things in coordination with a bunch of twenty- and thirty-something unelected White House staffers.
But again, if the NY Times is accurate on Lloyd Austin being the one now ‘ordering’ major military deployments (and who knows with what oversight), America might more currently resemble some military-ruled central Asian or African nation at this point.
Meanwhile, Babylon Bee once again nails it…
* * *
The newTucker Carlson interview of Dave Smith can be viewed in its entirety below.
An attempted assassination, followed by a coup. It makes you wonder what’s next. Dave Smith has some ideas.
(1:03) Dave Smith’s 2024 Predictions (8:34) Who Is the President Right Now? (12:39) The Greatest Scandal in American History (19:34) The Deep State Coming Out of the… pic.twitter.com/Ux2T2F29fL
A car drives past a poster depicting late Hamas leader Ismail Haniyeh, top commander of Iran’s Quds Force Qassem Soleimani and Hezbollah top commander Fuad Shukr in Beirut, Lebanon, August 5, 2024.(photo credit: MOHAMED AZAKIR/REUTERS)
Iran has angered its allies, particularly Hezbollah and Hamas, by once again urging caution in responding to Israel after the assassinations of high-ranking Hezbollah terrorist Fuad Shukr and Hamas political leader Ismail Haniyeh, the Kuwaiti newspaper al Jarida reported on Wednesday.
According to the report, while Iran has recently signaled a willingness to delay its response to Haniyeh’s assassination, a source within the Iranian Revolutionary Guard‘s Quds Force revealed to the Kuwaiti news outlet that a heated meeting took place on Sunday in Tehran between representatives of Iran’s regional allies and the Revolutionary Guard leadership.
This meeting exposed a significant rift, the report noted, which escalated into a verbal clash and ended with some allies storming out in anger.
The source told al Jarida that representatives from Hezbollah, Hamas, the Palestinian Islamic Jihad, various Iraqi factions, and the Houthis attended the meeting to coordinate a response to Israel.
According to the source, Revolutionary Guard representatives urged the allies to hold off on retaliation, at least until after the conclusion of hostage negotiations in Gaza, set to end on Thursday.
A war between Israel and Iran (illustrative) (credit: INGIMAGE)
However, Iran’s allies felt that the timing was ideal to launch an all-out assault on Israel, even if it meant confronting those who defend it, including American forces in the region. The source noted that the Iranian delegation made it clear that pursuing such an aggressive strategy would ultimately play into Israel’s hands.
Allies debate targeting Israeli leaders
Instead, the Iranians proposed a “tit-for-tat” approach, according to al Jarida’s report, suggesting that any assassination of resistance figures should be met with retaliatory assassinations of Israeli leaders.
During the meeting, the Hamas representative demanded the assassination of Israeli Prime Minister Benjamin Netanyahu in retaliation for Haniyeh’s death, warning that Hamas would not support the Iranian proposal otherwise, al Jarida noted.
Hezbollah representatives, on the other hand, expressed concerns about the risks of continued restraint, fearing that some of their members might act independently and carry out uncoordinated attacks. They insisted that, following the attack on Beirut’s southern suburbs, it was time to retaliate by targeting Haifa and Tel Aviv.
The source also revealed Tehran’s growing concern that its allies might launch attacks without coordinating with Iran, forcing it to deal with the consequences – much like what Hamas did on October 7, but potentially on a more dangerous scale, according to al Jarida’s report.
END
IRAN
Fascinating!
Massive cyberattack rocks Central Bank of Iran, computer system paralyzed
According to reports, all the computer systems of the banks in Iran were paralyzed following the cyber attack.
By BAR SHEFER, AVI ASHKENAZIAUGUST 14, 2024 16:56Updated: AUGUST 14, 2024 17:58
The sign of the Central Bank of the Islamic Republic of Iran is seen in Tehran, Iran January 25, 2023.(photo credit: Majid Asgaripour/WANA (West Asia News Agency)/Handout via REUTERS)
The Central Bank of Iran (CBI) and other banks were targeted on Wednesday as part of a significant cyber attack that led to widespread disruptions in the country’s banking system, Iran International reported.
According to reports, all the computer systems of the banks in Iran were paralyzed following the cyber attack. Initial estimates indicated that this could be one of the largest-ever cyberattacks against Iranian state infrastructure.
A signal to Iran?
The cyber attack is most likely a signal from the Western countries to Iran, that is, conveying a message that demonstrates how Iran can be harmed.
Hands are seen interfering with cyber code (Illustrative). (credit: PIXABAY)
The last cyber attack carried out against Iranian institutions took place last December when a significant part of the gas stations in the country were damaged as part of a cyber attack, which the Iranians attributed to Israel and the US.
This is a developing story.
end
ISRAEL/WEST BANK
Four IDF soldiers wounded in repeat sabotage of armored vehicles in West Bank
These soldiers were wounded during a 12-hour operation, which also led to the killing of five Palestinian terrorists and concluded on Wednesday.
By YONAH JEREMY BOBAUGUST 14, 2024 20:51Updated: AUGUST 14, 2024 21:08
The damage caused from an Israeli military raid in the Tubas, in the northern West Bank, August 14, 2024(photo credit: NASSER ISHTAYEH/FLASH90)
The IDF announced on Wednesday that four soldiers were wounded in Tubas in the northern West Bank after their partially armored David vehicle was hit by an improvised explosive.
The IDF did not provide how many times this has happened, but it has already reported on several such instances in recent months, starting with a June 27 incident in Jenin in which one soldier was killed and 22 were wounded.
On Wednesday, two soldiers were moderately wounded and another two soldiers were lightly wounded.
These soldiers were wounded during a 12-hour operation that also led to the killing of five Palestinian terrorists and concluded on Wednesday.
Four of the terrorists were killed by an IDF drone strike.
A Palestinian man checks a car damaged in an Israeli raid, in Tubas, in the West Bank, August 14, 2024 (credit: REUTERS/RANEEN SAWAFTA)
According to the military, an unidentified member of a terror group in the area was killed during an exchange of fire with the IDF troops.
Three additional Palestinians suspected of terrorism were arrested, said the IDF.
In addition, the IDF seized five M-16 assault rifles and one Carlo submachine gun, as well as explosive devices and other weapons.
During the June 27 incident, a Panther armored vehicle drove over a road where there was one of multiple planted explosive devices underground.
The road had already been bulldozed and “cleared” by an IDF D-9 bulldozer to ensure that such hidden improvised explosive devices could not ambush the soldiers.
The initial injuries to the soldiers within the Panther were much more limited, but nearby Palestinians activated a second improvised explosive device – possibly remotely – against the rescuers.
During the June 27 incident, the IDF said that the D-9 missed the explosive devices because they were buried at a much deeper depth than usual.
Until then, the devices had been buried around 40 to 50 cm. under a road.
These devices were probably placed around 1.5 m. deep.
According to public records, D-9’s standard digging depth cuts off at less than 70 cm.
Of course, if a D-9 does multiple runs through a specific area, it can go much deeper, but this creates other operational dilemmas when operating in a hostile environment and trying to maintain an element of surprise and quick and decisive action.
Back in June, the IDF was unclear how it would overcome such ambushes if the Palestinians copied their success in the future and based on numerous such incidents, including Wednesday, it does not seem that the military has arrived at a solution.
What operations are the IDF carrying out in Gaza?
In southern Gaza, the IDF announced on Wednesday that the air force struck a Hamas rocket launch site near a humanitarian aid route in Khan Yunis from which the terror group had fired rockets on Tuesday.
This attack was more significant than regular attacks on Hamas rocket launch sites because the organization had fired two M-90 long-range rockets, one of the first time in months they had managed to fire anything but short-range rockets.
Ultimately, one of the rockets landed in the sea and the other did not even reach Israeli territory given the long distance from southern Gaza.
However, the two rockets could have potentially hit Tel Aviv and central Israel based on their maximum range.
The IDF strikes were carried out adjacent to the launch site, outside of the humanitarian aid route with the military noting in a statement that Hamas continues to flagrantly violate the laws of war by placing rocket launchers next to humanitarian and civilian sites in Gaza.
IDF International Spokesperson Lt.-Col. Nadav Shoshani shared a video on X, formerly Twitter, showing Hamas terrorists in civilian clothes launching rockets from within tents near the humanitarian zone in Khan Yunis.
“Hamas terrorists continue to terrorize Israelis and endanger the Gazans around them,” Shoshani said.
“This is a video showing how Hamas terrorists, dressed in civilian clothing, launched two rockets towards central Israel today from a humanitarian area. Once again, Hamas is putting Gazan civilians at risk in an attempt to harm Israelis,” he concluded.
Later Wednesday, IDF soldiers dismantled Hamas terrorist infrastructure, sniper, and observation posts, with the IAF striking over 40 such targets through the Gaza Strip, including sites from which terrorists had fired anti-tank missiles.
IDF Chief of Staff Lt.-Gen. Herzi Halevi visited Rafah, telling his troops that every day Hamas continues to hold the Israeli hostages it will pay a price and be degraded further.
That said – even after 10 months – Halevi did not suggest any specific deadline or strategy for getting the hostages back beyond a potential deal, which he hopes will come about through ongoing IDF military pressure.
In the North, the IDF attacked Hezbollah in at least eight different rounds, somewhat of an increase over recent days, but still limited to southern Lebanon.
Hezbollah fired some rockets and an anti-tank missile in open areas in Israel without causing injuries or damage. There were no reports of large fires from the attacks.
It is unclear from Hezbollah’s overall reduced activity in the last week or so whether this is a ploy to try to lull Israel into complacency before a much larger attack or whether the group is secretly hoping for a ceasefire to avoid a larger conflict with the Jewish state.
Also, since the start of the Israel-Hamas war, some 10,056 wounded soldiers and security organization members have been absorbed by the Defense Ministry’s Rehabilitation Department, the department said Wednesday.
The department predicted that by 2030, there would be 100,000 IDF disabled cared for by the department, 50% of whom would be facing mental health injuries.
Jerusalem Post Staff contributed to this report
end
RUSSIA/UKRAINE
Putin appoints his ex bodyguard to oversee the defense of Kursk
(zerohedge)
Putin Appoints Ex-Bodyguard & Aide To Oversee Defense Of Kursk As Zelensky Boasts Of 74 Towns Captured
TUESDAY, AUG 13, 2024 – 08:30 PM
Ukrainian President Volodymyr Zelensky on Tuesday said his military has seized dozens of Russian settlements and towns spanning hundreds of kilometers in Russia’s Kursk oblast.
The surprise offensive is now one week in, and Zelensky boasted in an X post: “Ukraine controls 74 communities.” This is a significantly higher figure than the Kremlin has publicized, and there remain deeply contrasting accounts of what is going on in the war-ravaged border region, or whether Russian forces have yet repelled the invasion.
“Despite the difficult and intense battles, our forces continue to advance in the Kursk region,” Zelensky added, saying that many Russian border troops have been captured and can be used to eventually get Ukrainian POWs back.
Kiev says that the ultimate purpose of the high-risk operation is to protect its populace from Russian strikes, many of which happen from across the border. Currently, it is unclear the amount of territory the Ukraine invading force actually holds. By all accounts, Russian border posts were poorly manned and armed at the time of the attack which started Tuesday morning a week ago.
“Ukraine is not interested in taking the territory of the Kursk region, but we want to protect the lives of our people,” Ukrainian Foreign Ministry spokesman Heorhii Tykhyi has stated.
Things are still desperate on the Russian side amid a state of emergency in southern oblasts along the border. Well over 100,000 citizens have been evacuated.
“There is no light, no connection, no water. There is nothing. It’s as if everyone has flown to another planet, and you are left alone. And the birds stopped singing,” an elderly man identified as Mikhail told Russian state television on Tuesday. “Helicopters and planes fly over the yard and shells were flying. What could we do? We left everything behind.”
Acting Kursk Region Governor Aleksey Smirnov has announced that at least 12 Russian civilians have been killed and another 121 injured, including ten children, amid the ongoing Ukraine military incursion.
President Putin has meanwhile reportedly appointed a special official to take charge of efforts to restore order to Kursk and the border regions. He’s been identified in regional press as the president’s personal aide and former bodyguard Alexei Dyumin.
“Indeed, Alexei Gennadyevich Dyumin was summoned yesterday and tasked with supervising the counterterrorist operation,” State Duma lawmaker Nikolai Ivanov, whose district is in the Kursk region, told the RTVI broadcaster.
Dyumin was the only non-cabinet member not connected with the military or security services who was present at a televised meeting with Putin on Monday. During that meeting, which was focused on the fighting in the Kursk region, the Kremlin leader ordered the military to “dislodge” Ukraine’s forces from Russian territory.
Later, an anonymous Telegram channel claiming insider knowledge claimed that Putin directed Dyumin to “coordinate all agencies currently operating in the Kursk region.”
However, the Kremlin has not officially verified whether Dyumin has indeed been put in charge of Kursk operations.
At this moment a United Nations agency is trying to gain access to the region. The office of the UN High Commissioner for Human Rights (OHCHR) has issued formal request for Moscow to grant access to the Kursk Region to investigate Russian allegations of abuses and war crimes committed by invading Ukrainian troops.
More dumb takes from hopelessly inept washed up politico.
Look at the stark difference between the what three months of the
offensive in the Kharkiv region achieved and what three days of the
“We are trying to gather information about the situation in Kursk Region, but without access it is very difficult,” OHCHR spokesperson Ravina Shamdasani said in a fresh statement. “We have requested access to Russia to be able to obtain additional information.”
end
Robert H
RUSSIA/UKRAINE
White House claims Kiev did not inform it beforehand about plans to attack Russia’s Kursk – World – TASS
The balderdash spews well. If not planned by armchairs Generals then by who? Yes, the game was to seize the Kursk nuclear plant and blow it up if Russia did not immediately surrender with Ukrainians dictating terms scripted by DC. It is why this is considered a terrorist operation by the Russians. The reality is this is all media spin because the operation failed on August 11th when the Invading forces did not advance far enough to seize the power plant. The result is that 2/3 + of the 3000 troops are officially dead. Be sure the rest are being hunted. The pillage of homes by these troops was for not, as most of them will die. And as for this being a sole Ukrainian fiasco, one does one why the Russians have tapes of chatter in English and Polish which is further confirmed by Ukrainians taken prisoners. We perhaps should be thankful for Russian success in dealing with this foolhardy invasion because the Russian response would have been tactical with a nuke on Kiev and certain other command centers to make the point. A much more serious broader conflict has been avoided for now. We can rest assured that this is not the end to instigate a broader conflict. Meanwhile the meat grinder will continue to churn away in the Donbas.
6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES
Robert H
on X: “BREAKING: COVID SHOTS INSTALLED NANOBOTS
New Japanese study proves Pfizer and Moderna v*ccines contain unauthorized “animated worm-like” entities, invisible to the human eye, which swim, wiggle, and assemble themselves into complex structures, which cause clots inside the body. https://t.co/YyG2yvHfGw” / X
Remember that, your child’s immune system that got to here with NO mRNA vaccine is the best in the world, developing naturally, it’s INNATE antibodies & natural killer cells (NK) being trained
superbly, by being exposed to pathogen naturally and harmlessly, the immune system being educated and trained, so that it can confront pathogen now, and by the training can learn how to handle them in the future exposure, and can learn how to recognize ‘self’ from ‘non-self’, that is, the training of your child’s immune system naturally is to allow the immune system to discern what belong to the child and what does not and as such, attack it or not. This is the basis of auto-immunity and disease when the immune system fails to recognize self from non-self (or ‘self like’ or ‘self-mimicking’); this failure happens when the child is given the COVID mRNA shots especially if before they have had full series of traditional shots for glycosylated pathogen (shares similar surface proteins, glycans/sugars, coats etc.)…
so, your child who got no COVID vaccine is in the best situation, their immune system if could be bottled and sold, is PRICELESS. Vaccinated people, adults will do anything to get the immune system of your unvaccinated child.
It was ALWAYS a pandemic of the VACCINATED.
No healthy child, across USA, across the last 4-5 years, not one, got COVID or whatever poison or toxin they released on us, that caused pulmonary respiratory type symptoms in severe cases, not one, got this and got severely ill or died. No child, 0-19 years old got COVID and got severely ill or died. None. That is not what the media wanted you to know.
The mRNA vaccine never ever worked and failed day 1 and never protected the upper airways. It was always harmful. Day 1. All who said it saved lives and worked, lied to you. They knew they were deceiving you. They were shilling vaccine, they made money on your suffering. I challenge anyone, any doctor or scientist, debate me and walk with your science to show any of these vaccines worked to save just one life, prevented one death, cut hospitalization, ICU, deaths, severe illness…come debate me…show us the proper science.
you fuckers, you know who you are and what you did lying to the public. You money leeching whores.
Again, the immune systems of your unvaccinated child has not been subverted by the COVID Malone Bourla et al. mRNA vaccine. It’s broadly protective, potent, and robust first line defense natural innate antibodies are not being ‘outcompeted’ for antigen that it must be exposed to as part of its natural development.
Your child must be exposed to pathogen naturally and harmlessly as part of development, growing, daily, in the environment, for the immune system to be taxed and tuned up daily, to develop. You never ever lock it down and constrain it. You will destroy it.
You did good, the best as parents to have withstood that pressure. Those who could not, no more. Never again give your healthy child any of these fraud Malone Bourla Bancel et al. deadly shots. These bitches knew it was unsafe and not tested properly and ineffective, but you were their piggy bank…their NOBEL research labs…on our backs these bitches benefitted and as long as I live, I will ensure each of these people face proper legal forums and answer to tell us why they must not face jail etc. These were biological weapons, slow-kill, likely binary stage bioweapons
the acceleration of the Great Reset which was marked by the PSYOP-19 scamdemic & the associated slow kill bioweapon “vaccines” has now been reinforced with the activation of violent mobs of “refugees”
by the powers that be as their judicial and police assets have been ordered to punish any and all rightful opposition to this medieval savagery.
It is important to appreciate the weaponized invaders for what they really are because, for example, in America there are vast numbers of these illegals forming sleeper cells ready to be set in motion by those very same dark forces and their Intelligence Industrial Complex partners-in-crime that have allowed for the Southern borders to be completely porous in order to more effectively destroy the nation from within.
Here is a graphic example of what we are actually dealing with, so that you may better prepare for what is coming:
Note that the very same police that arrest lawful citizens for posting “inaccurate information “online are helpless in the face of these violent “guests,” by design.
Excellent scholarship by 2nd and Frieth again, please support 2nd’s stack and Frieth:
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.
…the importation of invaders whose cultures are wholly incompatible with the West was a plan hatched by the Fabian Society hundreds of years ago; the acceleration of the Great Reset which was marked by the PSYOP-19 scamdemic and the associated slow kill bioweapon “vacccines” has now been reinforced with the activation of violent mobs of “refugees” by the powers that be as their judicial and police assets have been ordered to punish any and all rightful opposition to this medieval savagery.
It is important to appreciate the weaponized invaders for what they really are because, for example, in America there are vast numbers of these illegals forming sleeper cells ready to be set in motion by those very same dark forces and their Intelligence Industrial Complex partners-in-crime that have allowed for the Southern borders to be completely porous in order to more effectively destroy the nation from within.
Here is a graphic example of what we are actually dealing with, so that you may better prepare for what is coming:
Note that the very same police that arrest lawful citizens for posting “inaccurate information “online are helpless in the face of these violent “guests,” by design.
Here is what UK color of law looks now today…
…precisely because the judicial system is an egregious scam that is violently weaponized against the people:
The whole concept of terrorism is to instill fear, and the more depraved the optics, the greater the compliance of a petrified populace; this depraved incident recently occurred in Spain (warning: graphic content):
Here is an actual elected member of the U.K. Labour Party, Cllr. Ricky Jones, calling for anti-fascists to “cut the throats” of “Nazi” anti-immigration protesters:
This violence against the English citizens is irrefutably state-sanctioned/state-sponsored terrorism by their very own illegitimate and captured government; all Western governments are currently waging wars against their own populations via statist terrorism, taxes, regulations, and lawfare.
Don’t forget: the USA is a money stealing scam as well with brainless hooker puppets like Obama, Biden and Harris diligently working in plain sight to send American into a Cloward-Piven 2.0 death spiral.
For some additional color on this worsening illegal invader importation scheme across the Western world here is Dr. Paul Alexander’s take:
Alexander MAGA Trump news; fake PCR created non-pandemic
and kill, bomb, stab…kill innocent people, I am not talking about all of islam, I refer to radical wahabi salafi islamists, jihadists, shariah islam, people who live in their minds in the 6th century, medieval barbarians, animals, feral beasts and commit deadly crimes, I do not refer to mainstream islam as I know many decent law abiding muslims, but man…
MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK
7.OIL PRICES/GAS PRICES/OIL ISSUES
WTI Extends Losses Despite Cushing Stocks Tumbling To 6-Month Lows
BY TYLER DURDEN
WEDNESDAY, AUG 14, 2024 – 10:41 AM
Oil prices are lower this morning – following bond yields, bitcoin and big-cap all lower post-CPI – erasing the small gains overnight following API’s reported big crude draw.
“Macroeconomic eyes remain very much glued on the state of inflation in the United States this week. With US PPI coming in 0.1% softer-than-expected yesterday, any such replication in the CPI reading today will hear not only a clamour of calls for the US Federal Reserve to cut interest rates but see another bout of speculative equity buying,” PVM Oil Associates noted.
For now, the official DOE data will likely decide the next leg.
API
Crude: -5.2mm
Cushing: -2.277mm
Gasoline: -3.689mm
Distillate: +612k
DOE
Crude: +1.36mm
Cushing: -1.665mm
Gasoline: -2.894mm
Distillate: -1.673mm
Bucking the API reported draw, DOE official data reports that crude stocks rose last week, ending a six-week streak of draws, but Cushing stockpiles continued to sink as did product inventories…
Source: Bloomberg
Stocks at the Cushing hub fell to their lowest since February…
Source: Bloomberg
The Biden admin added 694k barrels of oil to the SPR…
Source: Bloomberg
For context, there’s a long way to go..
Source: Bloomberg
US Crude production dipped off record highs…
Source: Bloomberg
WTI is extending its losses for now…
Middle East tensions remain heightened, with Iran still claiming the right to retaliate against Israel following the assassinations of key leaders in the Hamas and Hezbollah militant groups it backs. A direct attack on Israel is expected, but Iran has so far delayed any strike.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//
VENEZUELA
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING
EURO VS USA DOLLAR: 1.1023 UP 0.0027
USA/ YEN 146.92 DOWN 0.013 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 1.2842 DOWN 0.0023
USA/CAN DOLLAR: 1.3710 UP .0008 (CDN DOLLAR DOWN 8 BASIS PTS)
Last night Shanghai COMPOSITE CLOSED DOWN 17.29 PTS OR 0.60%
Hang Seng CLOSED DOWN 60.70 PTS OR 0.35%
AUSTRALIA CLOSED UP 0.35%
// EUROPEAN BOURSE: ALL GREEN
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL GREEN
2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 60.70 PTS OR 0.35 %
/SHANGHAI CLOSED DOWN 17.28 PTS OR 0.60%
AUSTRALIA BOURSE CLOSED UP 0.35%
(Nikkei (Japan) CLOSED UP 209.92 PTS OR 0.58%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: 2473.30
silver:$27.87
USA dollar index early WEDNESDAY morning: 102.29 DOWN 9 BASIS POINTS FROM TUESDAY’s CLOSE.
The USA/Yuan, CNY ON SHORE CLOSED UP AT 7.1368 (ON SHORE)
THE USA/YUAN OFFSHORE: (YUAN CLOSED (UP)…. (7.1330)
TURKISH LIRA: 33.56 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH
the 10 yr Japanese bond yield at +0.816
Your closing 10 yr US bond yield DOWN 5 in basis points from TUESDAY at 3.819% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 4.117 DOWN 5 in basis points /12.00 PM
USA 2 YR BOND YIELD: 3.933 DOWN 3 BASIS PTS.
GOLD AT 11;00 AM 2456.50
SILVER AT 11;00: 27.64
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates: WEDNESDAY CLOSING TIME 11:00 AM//
London: CLOSED UP 45.82 PTS OR 0.56%
German Dax : CLOSED UP 43.55 PTS OR 0.41%
Paris CAC CLOSED UP 40.60 PTS OR 0.75 %
Spain IBEX CLOSED UP 29.20 OR 0.27%
Italian MIB: CLOSED UP 321.58 PTS OR 1.00% PTS
WTI Oil price 78.94 12EST/
Brent Oil: 81.20 12:00 EST
USA /RUSSIAN ROUBLE /// AT: 89.75 ROUBLE UP 0 AND 75/100
GERMAN 10 YR BOND YIELD; +2.1745 DOWN 1 BASIS PTS.
UK 10 YR YIELD: 3.853 DOWN 6 BASIS POINTS
CDN 10 YEAR RATE: 3.026 DOWN 4 BASIS PTS.
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1014 UP 0.0018 OR 18 BASIS POINTS
British Pound: 1.2827 DOWN 0.0037 OR 37 basis pts
BRITISH 10 YR GILT BOND YIELD: 3.8666 UP 4 BASIS PTS//
JAPAN 10 YR YIELD: 0.820
USA dollar vs Japanese Yen: 147.27 UP 0.329 YEN DOWN 33 BASIS PTS//
USA dollar vs Canadian dollar: 1.3717 UP 0.0008//CDN dollar DOWN 8 BASIS PTS
West Texas intermediate oil: 77.13
Brent OIL: 79.80
USA 10 yr bond yield DOWN 2 BASIS pts to 3.834
USA 30 yr bond yield DOWN 4 BASIS PTS to 4.123%
USA 2 YR BOND: UP 1 PTS AT 3.954
CDN 10 YR RATE 3.034 DOWN 2 BASIS PTS
USA dollar index: 102.41 UP 2 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 33.60 GETTING QUITE CLOSE TO BLOWING UP/
USA DOLLAR VS RUSSIA//// ROUBLE: 89.50 UP 0 AND 50/100 roubles
GOLD 2,445.20 3:30 PM
SILVER: 27.50 3;30 PM
DOW JONES INDUSTRIAL AVERAGE: UP 242.09 PTS OR 0.21%
NASDAQ UP 16.24 PTS OR 0.85 %
VOLATILITY INDEX: 16.37 DOWN 1.75 PTS OR 9.66%
GLD: $226.29 DOWN 1.86 OR 0.82%
SLV/ $25.13 DOWN 0.29 OR 1.14%
end
USA AFFAIRS
TODAY’S TRADING IN GRAPH FORM
Bullion, Bitcoin, & Black Gold Battered But Sanguine CPI Slams Leaves Stocks & Bonds Confused
Wednesday, Aug 14, 2024 – 04:00 PM
Inflation ‘surprise’ data continues to drift back lower (at February lows after this morning’s CPI) but more problematically macro growth ‘surprise’ data is hovering near COVID lockdown lows…
Source: Bloomberg
…and it is that potential growth scare that is dominating traders’ minds as they reduce rate-cut expectations…
Source: Bloomberg
Markets are confused…
… Small Caps up, Dow down; Short-end of yield curve higher in yield, long-end lower; dollar flat as rate expectations slide; growthy Mag7 stocks rally while growthy commodities tumble…
Source: Bloomberg
…and gold and crypto slammed with dollar unch (though gold seemed to see this coming way early)…
Source: Bloomberg
…and distracted…
…as Kamala’s prediction market odds are now 12 pts above Trump’s…
Source: Bloomberg
By the end of the day, The Dow was up, Small Caps down, Nasdaq unch… until a late-day panic-bid put some lipstick on the pig ahead of tomorrow’s retail sales data…
VIX was clubbed like a baby seal back to a 16 handle…
Treasuries were mixed with the short-end lagging (2Y +3bps, 30Y -4bps), but all yields are down on the week…
Source: Bloomberg
Today’s price action was a little wild in bond land with the CPI print sending 2Y up to 4.00% where it was firmly rejected…
Source: Bloomberg
The dollar was dumped overnight and through CPI, only to retrace those losses to end unchanged on the day…
Source: Bloomberg
While the dollar was unchanged, gold prices tumbled, erasing much of Monday’s gains…
Source: Bloomberg
Oil prices followed a similar trajectory, with WTI dropping to a $76 handle intrday (after an unexpected crude build)…
Source: Bloomberg
Bitcoin was battered back down to $59k after CPI and reports that Kamala’s administration is dumping more Silk Road seizures…
Source: Bloomberg
Finally, market-driven financial conditions have eased dramatically in the last few months…
Source: Goldman Sachs
…clearly the market is demanding 200bps of cuts this year…or else, Kamala loses!.
MORNING TRADING/CPI
Looks elevated to me
(zerohedge)
Core Consumer Prices Hit New Record High – Up For 50th Straight Month
WEDNESDAY, AUG 14, 2024 – 08:43 AM
Following last month’s ‘deflationary’ print (-0.1% MoM), analysts expected headline CPI to rise 0.2% MoM and they were spot on, shifting the YoY CPI print to 2.9% (from 3.0%) – the lowest since March 2021…
Source: Bloomberg
Goods deflation continues to drag overall CPI lower…
Source: Bloomberg
The 3m and 6m annualized CPI rates continue to trend lower (with Energy a particularly volatile factor)….
Source: Bloomberg
Core CPI also rose 0.2% MoM (as expected), and the YoY rate of inflation slowed to 3.2% (from 3.3%) – the lowest since April 2021…
Source: Bloomberg
While Core CPI is slowing YoY, the Core goods deflation appears to have stalled…
Source: Bloomberg
However, that is the 50th straight month of MoM increases in Core CPI, and a record high…
Source: Bloomberg
Under the hood, used car prices fell 2.3% along with airline fares (-1.2%) while Car insurance costs jumped 1.2% and furniture prices rose 0.3%…
Source: Bloomberg
Finally, the so-called SuperCore CPI rose 0.2% MoM (same as the rest), dragging the YoY down to 4.73% (still notably elevated)…
Source: Bloomberg
Transportation Services jumped notably MoM..
Source: Bloomberg
So, is this ‘good’ news or bad news?
Finally, money supply growth is reaccelerating…
Source: Bloomberg
Is this the trough for CPI?
AFTERNOON TRADING///
II USA DATA
III USA ECONOMIC COMMENTARIES
NEW YORK/MIGRANTS
NYC Migrant Crisis To Cost Staggering $5 Billion For Shelters, Security And Food
WEDNESDAY, AUG 14, 2024 – 10:50 AM
The tab for New York City to house and feed scores of illegal migrants has likely surpassed $5 billion, of which $2 billion alone has been spent on housing, according to city data cited by the NY Post.
Since the spring of 2022, some 212,000 ‘asylum seekers’ have flowed through the system, according to City Hall.
Money spent so far includes:
$1.98 billion on housing and rent.
About $2 billion on services and supplies.
Nearly $500 million on food and medical costs.
Another $500 million on IT, administrative and other costs.
The NYPD has spent $21 million on public safetyand security related to the migrants.
The eye-popping figures, listed on the city’s online asylum-seeker funding tracker, shows the city overall spent $4.88 billion combined through fiscal years 2023 and ‘24. Based on the rate of spending, the city likely exceeded more than $112 million since the start of the new fiscal year beginning July 1, or will soon, cracking $5 billion.
Mayor Eric Adams’ administration has even projected the cost could double, hitting $10 billion over the three year period ending June 30, 2025.
In a recent posting, the city’s Department of Homeless Services revealed two more contracts this week totaling a combined $40 million in order to provide services to migrants at hotels converted into emergency shelters – which include hotels at the heart of the Broadway tourist disrict.
According to Mayor Eric Adams’ chief of staff Camille Joseph Varlack, “This is not a New York City issue or even a United States issue, this is a worldwide issue,” adding “We’ve had the opportunity to speak to other cities who are expecting and experiencing migration and we expect that to continue between wars and climate change and all the other issues.”
Hotels Raking It In…
As noted last month by The Blaze, and The New York Post, New York City hotels will be taking in more than $1 billion in taxpayer cash to support migrants. Their reports note that the city currently uses 193 migrant shelters, with about 80% housed in motels, hotels, or inns.
According to a May analysis by Comptroller Tom DiNapoli, the average cost per hotel room is $156, though some reports suggest these locations may be charging over $300 per night since migrants began arriving in spring 2022.
The report highlights that by May 31, the city had spent about $4.88 billion on the migrant crisis, with $1.98 billion allocated specifically to migrant housing, including hotels, motels, and tent cities at Randall’s Island and Floyd Bennett Field.
The Blaze wrote that CoStar reported in November 2023 that up to 16,000 hotel rooms have been taken off the market for migrants, impacting the hotel industry negatively.
William Shandler, who is a manager at Iron Bar commented: “Our taxes are being used to pay for the migrants, and where are we supposed to make revenue? How as a business could we function?”
Councilwoman Joann Ariola added that hotels are “not for sheltering the masses of people pouring over our borders every day,” but rather for tourism. “These locations were meant to boost the economy of this city, but instead they’ve become a net drain and are costing us enormously,” she told the New York Post.
The Post wrote that the city’s financial support has bolstered the hotel industry, which added 21,000 rooms in the four years before the pandemic, according to the Department of Planning. When tourism plummeted in 2020, former Mayor Bill de Blasio provided a lifeline by contracting hotels to house the homeless.
Mayor Eric Adams has continued this practice. By September, the city extended a three-year, $1.3 billion contract with the Hotel Association of New York City to house migrants. Additionally, a $76.69 million emergency contract was signed in January for shelter at 15 hotels.
HANYC’s president, Vijay Dandapani, stated they’re working to keep costs low while supporting the city’s efforts to care for asylum seekers.
Enjoy your next vacation to New York City!
END
If the economy is that good why are so many chains closing many of their stores?
(Michael Snyder)
A “Retail Apocalypse” Is Gaining Momentum All Over America. Is Your Favorite Chain Closing Stores?
Why are retailers closing thousands of stores if the U.S. economy is in good shape? Of course the truth is that the U.S. economy is not in good shape at all. The cost of living crisis is absolutely crushing working families all over the nation, and U.S. consumers simply don’t have as much discretionary income as they once did. Needless to say, our retailers are highly dependent on discretionary spending, and many of them have been reporting very disappointing sales numbers recently. Sadly, the problems that our retailers are experiencing are only going to intensify as U.S. economic activity continues to slow down.
According to CBS News, U.S. retailers have announced the closing of more than 3,000 locations in 2024…
The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024, according to a new analysis.
That’s a 24% increase from a year ago, according to a report from retail data provider CoreSight, which tracks store closures and openings across the U.S.
The closing of 3,200 stores sounds really bad, but it is important to note that the quote above is from a CBS News story that was published on May 13th.
Since that time, there have been a lot more store closing announcements.
For example, last week we learned that Big Lots plans to close nearly 300 stores…
Two months after announcing plans to close about 40 stores nationwide due to financial woes, Big Lots has indicated on its website it intends to close almost 300 stores.
The discount retailer announced in June it was facing several areas of financial strain that would result in 35-40 stores closing across the country. However, an audit of the Big Lots website on Aug. 2 reveals almost 300 stores are slated to close in the United States, including 18 in New England.
Meanwhile, a home goods retailer that has been in business since 1890 is preparing to permanently shut down over 170 stores…
A home goods retailer is closing all of its more than 170 stores after filing for bankruptcy.
Conn’s HomePlus, based in The Woodlands, Texas, operates stores in 15 states, including 11 in Louisiana. The company began in 1890 in Beaumont, TX. The Conn’s HomePlus store on Derek Drive in Lake Charles is included in the closures.
Burdorf Interiors has been in business for even longer, but now they have also reached the end of the road…
Burdorf Interiors, a 157-year-old local business, is shutting down, according to Louisville Business First.
The company announced the closure in a news release Wednesday.
“It’s with a heavy heart that we are announcing the closing of Burdorf Interiors,” the release said. “The business has been open in several locations throughout Louisville since 1867.
Just think about that.
They opened their doors just after the end of the Civil War, and now it is all over.
Drug store chains have been hit particularly hard by our ongoing retail apocalypse.
Rite Aid was once a retail powerhouse that was expanding like crazy, but now they plan to close 780 stores…
Rite Aid, which was based in East Pennsboro Township near Camp Hill for decades and is now based in Philadelphia, filed for Chapter 11 bankruptcy in October to begin restructuring to significantly reduce its debt.
Since October, the company has announced in bankruptcy filings the closing of 780 stores.
Of course Dollar Tree has Rite Aid beat.
During the course of the next few years, Dollar Tree plans to close almost 1,000 stores…
Dollar Tree on Wednesday said it plans to close nearly 1,000 stores over the next several years, after disclosing significant losses in its latest earnings report.
The discount store chain lost $1.7 billion in the fourth quarter, down sharply from earnings of $452.2 million a year ago.
Unfortunately, this is just the beginning.
Analysts at UBS are projecting that approximately 45,000 stores will be permanently shut down in the U.S. during the years in front of us…
About 45,000 retail stores may close in the coming years as retail’s physical footprint increasingly shifts to serve as fulfillment and distribution centers, UBS analysts led by Michael Lasser said in an April 22 report.
Can you imagine what this is going to look like?
Our landscape is going to be peppered with thousands upon thousands of derelict buildings that have been boarded up to keep criminals out.
Of course some of our core urban areas already have lots and lots of empty commercial spaces that used to be thriving retail locations.
One of the primary reasons why retailers are shutting down so many locations in core urban areas is because shoplifting in this country has risen to unprecedented levels.
According to a recent survey that was conducted by LendingTree, close to a fourth of the entire population admits that they have shoplifted…
Nearly one-quarter of American adults have shoplifted, according to a new survey from LendingTree, the personal finance site. Roughly 1 in 20 consumers have shoplifted within the past year.
Shoplifting is a complicated crime. The motive can range from adolescent rebellion to adult thrill-seeking to hand-to-mouth poverty. Many of us steal things we don’t need and won’t use.
“I’ve learned that a lot of people have given shoplifting a try for lots and lots of reasons,” said Matt Schulz, chief credit analyst at LendingTree.
At this point, shoplifting has become one of our primary national pastimes.
And it is increasingly becoming a “team sport” in many parts of the nation.
On Friday night, a team of approximately 50 teens stormed a 7-Eleven in Los Angeles and completely ransacked it…
A large group of juveniles used “bodily force” to ransack a 7-Eleven store in Los Angeles Friday night, authorities said.
A Los Angeles Police Department spokesperson confirmed to KTLA that about 50 teens descended upon the 7-Eleven at the corner of Olympic and La Cienega boulevards in Pico-Robertson at 7:50 p.m.
The teens, many of whom were wearing masks, forcibly stole property from the store, the spokesperson said.
This particular incident barely made a blip in the news cycle.
Why?
These days, giant mobs loot stores so frequently that this sort of thing isn’t even considered to be very newsworthy anymore.
The thin veneer of civilization that we are all depend upon is disintegrating right in front of our eyes, and our once great country is descending into complete and utter chaos.
If things are this bad now, what will our cities look like once economic conditions become far more painful than they are currently?
IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and PERVASIVE ANTISEMITISM/WOKISM
iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES
end
END
FREIGHT ISSUES/USA/BOEING
END
VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON
END
NEWT GINGRICH
SWAMP NEWS
Harris Campaign Busted Spoofing News Outlets In Headline-Altering Ad Scheme
TUESDAY, AUG 13, 2024 – 04:40 PM
Despite corporate media’s unabashed u-turn to support Kamala Harris, her campaign has been busted creating made-up headlines next to the names of real news outlets to trick people into thinking they’ve stumbled upon the real thing, Axios reports.
Upon hearing the news, The Guardianlost their shit, telling Axios: “While we understand why an organization might wish to align itself with the Guardian’s trusted brand, we need to ensure it is being used appropriately and with our permission. We’ll be reaching out to Google for more information about this practice.”
The ads include links to real articles from the outlets, however the headlines and supporting text were altered.
Spokespeople for other spoofed outlets such as CNN, USA Today and NPR, said they had no idea their brand was being featured this way.
For example, an ad that ran alongside an article from The Guardian shows a headline that reads “VP Harris Fights Abortion Bans – Harris Defends Repro Freedom” and then includes supporting text underneath the headline that reads, “VP Harris is a champion for reproductive freedom and will stop Trump’s abortion bans.”
An ad featuring a link to an NPR story reads, “Harris Will Lower Health Costs,” with supporting text that says, “Kamala Harris will lower the cost of high-quality affordable health care.”
For example:
Meanwhile, according to Google’s ad transparency center, the Trump campaign isn’t running these types of ads – and says that because ads on Search are prominently labeled as “Sponsored,” they’re “easily distinguishable from Search results.” A Google spokesperson added “we’ve provided additional levels of transparency for election ads specifically.”
Nevermind that news outlets pay to promote their own articles all the time.
And nevermind that there was a “glitch” which hid the ad disclosure.
A source familiar with the Harris campaign’s ads team said the campaign buys search ads with news links to give voters searching for information about Vice President Harris more context.
The campaign has complied with all of Google’s rules, although a technical glitch in Google’s Ad Library made it appear as though some ads lacked the necessary disclosures Google requires when they ran. (A Google spokesperson confirmed the glitch and said it’s investigating what happened.)
“Election advertisers are required to complete an identity verification process and we prominently display in-ad disclosures that clearly show people who paid for the ad,” the spokesperson said. -Axios
That said, according to Google the ads don’t violate its rules – however other platforms have taken action against such deception. Facebook, for example, banned advertisers from editing text from Instant Article news links in their ads in 2017, citing its “continuing efforts to stop the spread of misinformation and false news.”
A candidate so good they have to deceive voters…
END
Colbert’s Own Audience Laughs At Him Seriously Stating CNN Is “Objective”
There was an awkward but amusing moment when Stephen Colbert seriously stated that CNN was “objective” and “just reports the news as it is,” prompting his own audience to laugh hysterically at the notion when they weren’t supposed to.
The incident occurred during Colbert’s interview with CNN’s Kaitlan Collins, who has repeatedly betrayed her anti-Trump bias, including infamously during a town hall event she hosted with Trump last year.
Collins claimed Trump was on the back foot because he didn’t know how to “go after” Kamala Harris due to her being a non-white woman.
“It’s kind of been this moment where he has not been able to coalesce behind a single attack line,” asserted Collins.
NEW: Audience starts cracking up after a serious Stephen Colbert tells CNN’s Kaitlan Collins that CNN “just reports the news as it is.”
Remarkable.
Colbert: “I know you guys are objective over [at CNN], you just report the news as it is.”
Colbert responded: “I know you guys are objective over there, that you just report the news as it is,” to which his audience reacted by laughing.
A surprised Collins responded, “Was that supposed to be a laugh line?”
“It wasn’t supposed to be but ah, I guess it is,” said Colbert.
Whoops.
How revealing that Colbert’s own virulently NPC audience even knows instinctively that claiming CNN is “objective” is utterly hilarious.
“Lmaooo, the public knows,” commented Elon Musk.
* * *
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
Colbert responded: “I know you guys are objective over there, that you just report the news as it is,” to which his audience reacted by laughing.
A surprised Collins responded, “Was that supposed to be a laugh line?”
“It wasn’t supposed to be but ah, I guess it is,” said Colbert.
Whoops.
How revealing that Colbert’s own virulently NPC audience even knows instinctively that claiming CNN is “objective” is utterly hilarious.
“Lmaooo, the public knows,” commented Elon Musk.
* * *
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.
end
Robert H to us:
Nuts
Over digesting horse semen ???? Crazy !!!!
Leadership to count on ????
———- Original Message ———-
Tampon Tim Walz, Kamala Harris’ choice as her VP candidate on the Democrat Presidential ticket has a bizarre, WEIRD problem to explain.
This guy, Walz, called Trump and Vance WEIRD and got the media to parrot the same phrase about them….but Trump and Vance have done nothing compared to this clown Walz’s WEIRD behavior.
A newspaper article from the West Point Nebraska Daily News, dated August 30, 1995 (attached below as a .pdf) describes Walz’s hospitalization at West Point General.
The community and family were in shock and disbelief when the when the attending physician, Dr. Amanda Thompson, explained that Mr. Walz required stomach pumping procedure after drinking about one gallon of horse semen.
I can’t wait to see how WEIRD WALZ spins his certainly unique incident.
I’ve always believed that when the DemoRats accuse the Republicans of some shocking thing it is always the DemoRats who have done it first. Well tampon Tim Walz, you win the prize for WEIRD. I hope this really WEIRD true incident gets nationwide distribution.
KING REPORT
The King Report August 14, 2024 Issue 7305
Independent View of the News
US July PPI 0.1% m/m & 2.2% y/y, 0.2% m/m & 2.3% y/y expected. Core PPI 0.0% m/m & 2.4% y/y, 0.2% m/m & 2.6% y/y expected. Did anyone really think the PPI Report would not be good? Does anyone think that the BLS will post a July CPI Report today that is worse than expected?
@LizThomasStrat: The PPI Trade Services m/m print was the 2nd lowest on record. (Who’s buying this?) This attempts to measure wholesale and retail margins, suggesting a meaningful decline in profits. More of this would not bode well for earnings in coming quarters. https://t.co/ZBMyuBzzse
The twist in the July PPI Report is that service prices declined while goods prices increased. For the past year or so it has been the opposite.
@dlacalle_IA: Producer Price Index for final demand increased 0.1 percent in July. Prices for final demand goods moved up 0.6 percent, and the index for final demand services fell 0.2 percent. Nothing here to justify rate cuts or easing. https://x.com/dlacalle_IA/status/1823361409989652739
Home Depot expects sales to weaken as consumers grow more cautiousHome Depot’s fiscal second-quarter earnings and sales beat expectations, but it said it expects comparable sales to decline this year.The home improvement retailer’s CFO told CNBC that homeowners are now deferring projects due to a “sense of greater uncertainty in the economy.”https://www.cnbc.com/2024/08/13/home-depot-hd-q2-2024-earnings.html
Traders poured into Mag 7/Fangs on Tuesday. This pushed Nasdaq and the Nasdaq 100 sharply higher. The DJIA and DJTA surged during the first 20 minutes of trading but then sank. The DJTA turned negative by 10:05 ET. It then rallied modestly and traded sideways until.
The DJIA rebounded sharply during the second hour of NYSE trading.
ESUs traded mostly positive during early Nikkei trading. The modest early rally gradually expanded during the remainer of Nikkei trading. The Nikkei closed +3.45%; the ESUs rally was meager.
ESUs began a rally 20 minutes before the 3 ET European opening. ESUs hit a peak of 5401.75 at 3:23 ET. The dump then appeared; ESUs commenced an A-B-C decline that rescinded that entire gain for the day. After hitting a low of 5370.25 at 6:50 ET, ESU commenced a rabid rally that took ESUs to a daily high of 5450.25 at 12:51 ET. ESUs then went inert until they dropped to 5433.35 at 13:46 ET.
Someone immediately jerked ESUs up to 5447.75 at 13:55 ET. ESUs then traipsed higher. Few traders wanted to short or liquidate when it’s been obvious that someone adamantly wants to force ESUs higher, especially late in a session. ESUs hit a daily high of 5455.75 at 15:03 ET. After a 14-handle drop by 15:21 ET, the late manipulation forced ESUs to 5461.25 at 15:59 ET.
Fox News: Biden-Harris appeasement didn’t delay Iran retaliation against Israel. Here’s what really happened – It is clear that something else influenced Iran’s decisions, not US diplomacy. Kuwait’s Al-Jarida newspaper, citing an unnamed source in Iran’s Supreme National Security Council, reported that a high-level American security delegation, brokered by Oman, secretly traveled to Tehran… “the delegation presented a list containing the names of ten Mossad agents inside Iran, whom the Americans believe were involved in the assassination… This was intended as a good faith initiative in response to the Israeli state’s stunning strike, which was carried out without coordination with Washington.” It could be one of the most valuable souvenirs given to the Iranian mullahs lately… Additionally, immediately after the reported visit by the U.S. delegation, “more than two dozen people, including senior intelligence officers, military officials, and staff workers at a military-run guesthouse in Tehran,” were arrested in response to the assassination of the Hamas leader, according to the New York Times based on reports from two Iranians familiar with the investigation… Simultaneously, a high-ranking Russian delegation, led by Sergei Shoigu, the secretary of Russia’s Security Council and a senior ally of Kremlin leader Vladimir Putin, visited Iran… They delivered Putin’s direct message to his minion the Comrade Ayatollah Ali Khamenei, ordering him not to act recklessly by attacking Israel with outdated missiles as they did on April 13, an act that resulted in humiliation. Putin promised to soon deliver advanced weapons, including air defenses, to Iran. Additionally, the Islamic regime of Pakistan announced plans to provide Iran with advanced ballistic missiles capable of carrying nuclear warheads, in case the supreme leader decides to launch a nuclear attack on Israel…We are on the brink of World War III. Russia and China’s Communist Party are setting their war chessboard… — Amir Fakhravar, former political prisoner of IRGC inside Iran… https://www.foxnews.com/opinion/iran-delays-retaliation-against-israel-putins-command-not-biden-harris-appeasement
Team Obama is revealing Mossad agents to Iran!?!?! Where is Congress?
US intelligence abandons claim Iran ‘not currently undertaking’ nuclear weapons development https://t.co/QE2ZUNUfwZ
Positive aspects of previous session Someone continues to force ESUs higher. Mag 7/Fangs soared. The NY Fang+ Index rallied as much as 3.2%! USUs rallied smartly.
Negative aspects of previous session
Ambiguous aspects of previous session Who keeps manipulating ESUs and NQUs?
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]: 5415.97 Previous session S&P 500 Index High/Low: 5436.50; 5376.98
Biden didn’t disclose allegedly free vacations, yet pushes for Supreme Court reform following gifts Rules for thee, but not for me? President Biden and his family have repeatedly vacationed at wealthy friends’ homes over the years without disclosing them on financial forms, yet encouraged media scrutiny of SCOTUS’ similar actions. (Don’t forget Biden’s push for term limits despite his decades in DC!) https://justthenews.com/government/white-house/biden-didnt-disclose-allegedly-free-vacations-yet-pushes-supreme-court
Today – Part of Tuesday’s action was Expiry Week Manipulation. Usually, Weird Wednesday marks the peak intensity of the manipulation to squeeze expiring calls. Typically, trading sardines, Mag 7 stocks and techs, are favored vehicles for squeezing expiring calls. It’s possible that manipulators did the squeeze before the July CPI Report. Often, manipulators wait for key economic reports or FOMC decisions before they do the squeeze. However, there is an urgency to boost stocks now.
The robust rally on Tuesday probably appropriated much of a rally that would occur after a ‘good’ July CPI Report. If July CPI is benign, and we cannot imagine that the BLS would present a bad report, a blowoff rally and short-term trend exhaustion should appear. However, the usual rhythms and patterns in the equity market have been usurped by the entity or entities that are determined to force ESUs higher. There is no telling when the manipulation will end.
If someone keeps forcing ESUs and Mag 7 stocks higher, the probability of some type of crash will increase immeasurably. Who will get the blame for the crash?
DOJ Mulls Asking for Google Breakup after … Antirust Win – BBG 16:29 ET (after close)
NQUs are -5.75; ESUs are -4.25; and USUs are -1/32 at 20:47 ET.
S&P Index 50-day MA: 54452; 100-day MA: 5416; 150-day MA: 5208; 200-day MA: 5044 DJIA 50-day MA: 39,514; 100-day MA: 39,188; 150-day MA: 38,955; 200-day MA: 38,149 (Green is positive slope; Red is negative slope)
S&P 500 Index (5426.50 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 55556.67 triggers a buy signal Hourly: Trender and MACD are positive – a close below 5372.90 triggers a sell signal
Axios founder @JimVandeHei: The Harris campaign has been editing news headlines and descriptions within Google search ads that make it appear as if the Guardian, Reuters, CBS News and other major publishers are on her side, Axios has found. (The obvious pattern is fortified further!) https://www.axios.com/2024/08/13/harris-campaign-google-poltical-ads-news-publishers
@JackPosobiec: Hearing Kamala is now quietly pushing for Biden to step down so she can get Secret Service protection for life even if she loses the election. (Higher pension, better book & speaking deals)
Views of conversation between Musk and Trump hit 1 billion (Tuesday AM) https://t.co/zMjkRkg9Ch
@charliekirk11: MUSK: “I’ve not been very political before… they try to paint me as a far-right guy which is absurd because I like to make electric vehicles… I supported Obama. I stood in line for 6 hours to shake Obama’s hand… historically I was a moderate Democrat. But now I feel like we’re at a critical juncture for the country… We want to have a future that’s prosperous, and I think we’re just at this critical juncture. I think you are the path to prosperity and I think that Kamala isn’t. I’m going to get attacked for that, but I’m just trying to give people my honest opinion…we’re in deep trouble if it goes the other way… For the people out there in the moderate camp, I think you should support Donald Trump for president.”
Musk on Harris: “Her dad is a Marxist economist. You can Google it. That’s how she was brought up.”
@MarinaMedvin: The purpose of this interview for Elon is to help the moderates understand why he is endorsing Trump. This is Elon’s attempt to get through to reasonable voters on what should be bipartisan issues — safe cities, secure borders, respect for law, stable economy.
@VigilantNews: Elon Musk proposes plan to CUT government spending. “Inflation comes from government overspending because the checks never bounce when it’s written by the government.”… He tells Trump we need a “government efficiency commission” to assess what is and is NOT good government spending. “We need to reduce our government spending and we need to reexamine. I think we need, like, a government efficiency commission to say, like, hey, where are we spending money that’s sensible? Where is it not sensible? And we need to live within our means. We’re currently adding, I think, a trillion dollars to the deficit roughly every hundred days. And the interest payments on the national debt have now exceeded the defense budget.”
@Geiger_Capital: The Trump/Musk conversation was incredible, regardless of political ideology… The stark contrast between legacy media and 30 second soundbites. Or other candidates refusing to even talk. We just listened to a 2 hour talk between the modern day Thomas Edison and Teddy Roosevelt.
Trump to Musk: “The enemy within is more dangerous than Russia and China.”
@TrumpWarRoom: ELON: Obviously, what’s happening overnight is they are re-writing history and making Kamala sound like a moderate when in fact, she is far, far left.
@alx: Team Kamala is seething over @realDonaldTrump & @ElonMusk’s conversation on 𝕏 Spaces.
@greg_price11: This has gotta be the most petty and unhinged campaign email of all time and it’s even more hilarious considering neither Kamala, nor Tim Walz have spent more than 0 seconds doing an interview, a press conference, or any conversation. (Harris-Walz Campaign screed against Mush/DJT) https://x.com/greg_price11/status/1823176396065190281
@ElectionWiz: TRUMP CAMPAIGN RESPONDS TO HARRIS PRESS RELEASE: “Understandable that Kamala’s campaign would find it confusing to listen to a presidential candidate speak off the teleprompter for more than 0 seconds.” https://x.com/ElectionWiz/status/1823324145377030516
@elonmusk: Happy to host Kamala on an 𝕏 Spaces too. I will be super fair and stand corrected if she can point out where I have made arguments lacking in cogency!
WaPo’s Trisha Thadani, Technology reporter: A representative for the Harris campaign did not respond to a request for comment about whether the candidate was offered a similar opportunity to appear on X. In response to a post last week speculating about whether Harris would agree to a similar interview with Musk, he replied “I’m open to it.” https://www.washingtonpost.com/elections/2024/08/12/2024-election-campaign-updates-harris-trump/
@TrumpWarRoom: CNN: “What’s on the vice president’s schedule today?” Kamala Spox: She’s giving a speech on Friday. CNN: “It seems like she has time if she wanted to do an interview with a member of the media or do a press conference.” Kamala Spox: She will at some point! https://x.com/TrumpWarRoom/status/1823360711793242139
@CBSNews: Vice President Kamala Harris is set to deliver a speech Friday to roll out her economic portfolio, marking the first time she has released a major policy initiative since President Biden dropped out of the race last month.
@magills_: I’m really enjoying the pieces from MSNBC, Politico, ABC, CBS, CNN, TIME, The New York Times, The Washington Post, and USA Today about how Elon is using X to push his candidate of choice.
@JackPosobiec: NEW HOAX ALERT For all the doubters claiming Trump was lisping on the call, it was just Spaces compression. Here he is recorded on a phone in the same conversation sounding perfectly normal. Post this under anyone spreading the Lisp Hoax.https://x.com/JackPosobiec/status/1823400713495486899
@WallStreetApes: Kamala Harris Campaign Trying to Hide They’re Paying Influencers, Requiring NDA TikTok Influencer with 676k Followers EXPOSING Kamala Harris sent an email to her trying to pay for her support and requiring signing an NDA “Just the other day, I received an email for a paid promotion, paid, for me to make a video and post it on TikTok talking about the democratic side. At the end of this email, it says, if you wanna get things going, we’ll send over an NDA for you to sign and we’ll get started. I know a lot of people get their views and their opinions and their beliefs based off what their favorite influencers are saying. Just know, they might have been paid to say the things they’re saying.”
@gekaminsky: EXCLUSIVE: Tim Walz—in footage unearthed by @dcexaminer — called Hitler-promoting imam Asad Zaman a “master teacher” who offered Walz lessons over the time they “spent together.“ The footage further contradicts the Harris campaign’s claim Walz has no personal relationship w/ Zaman. https://x.com/gekaminsky/status/1823309042506150037
Shocking video shows cops enforcing Tim Walz’s curfew by shooting paintballs at residents as they stood in their doorwayshttps://trib.al/3cFKfa1
@TrumpDailyPosts: The NYT/Siena Poll has way over sampled Democrat voters, and way under sampled people who voted for me in 2020. The Fake News York Times insisted they do this so that it would look as bad as possible in comparison to their last poll, which was very good for me, way up, and made the very biased Times look “stupid,” just like in 2016. I am actually up on the San Francisco Liberal, despite all of Crooked Media. She would DESTROY AMERICA, just like she destroyed San Fran
@charliekirk11: Stephen Colbert’s audience ERUPTS into laughter when Colbert says to guest Kaitlin Collins that CNN is “objective” and “just reports the news.” COLLINS: “Is that supposed to be a laugh line?” COLBERT: “No.” Even liberals know CNN is functionally a Democrat super PAC. https://x.com/charliekirk11/status/1823370458202595455
JD Vance claims CNN operates as part of Harris campaign after report on old investment is slammed as smear jobhttps://trib.al/jfSsEPm
(Dem) Bob Casey has stake in Chinese fentanyl manufacturer that’s flashpoint in Pa. Senate race against (GOP) Dave McCormick: report https://trib.al/Lul12uP
@TheRabbitHole84: The legacy media doesn’t have time to report meaningfully because they are busy generating fake oppression narratives. (Yearly mentions of ‘prejudice’ have gone parabolic!) https://x.com/TheRabbitHole84/status/1823370959665144140
harveyorganblog.com 
