GOLD PRICE CLOSED UP $9.40 TO $2512,20

SILVER PRICE UP $0.24 TO $29.46

Gold ACCESS CLOSED $2515.75

Silver ACCESS CLOSED: $29.44

Bitcoin morning price:$60,602 UP 1511 DOLLARS.

Bitcoin: afternoon price: $59,650 UP 552 DOLLARS

Platinum price closing  DOWN $5.05 TO $952.50

Palladium price; DOWN $9..60 TO $929.00

END

PLEASE FORGIVE ME FOR NOT BEING THOROUGH AS I WAS TENDING TO MY WIFE IN THE HOSPITAL.

*CANADIAN GOLD: $3426.57 UP 10.50 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,930.13 UP 2.76 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,261.01 UP 2.62 Euros per oz //* (ALL TIME CLOSING HIGH: 2.273.50 EUROS PER OZ//AUGUST 16 //.2024)

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: AUGUST 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,501.800000000 USD
INTENT DATE: 08/19/2024 DELIVERY DATE: 08/21/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

118 H MACQUARIE FUT 9
363 H WELLS FARGO SEC 14
661 C JP MORGAN 4
685 C RJ OBRIEN 1
690 C ABN AMRO 11
726 C PLUS500US FINAN 1
732 C RBC CAP MARKETS 8
737 C ADVANTAGE 24 8
905 C ADM 12 28
991 H CME 12

---

TOTAL: 66 66
MONTH TO DATE: 21,575

JPMorgan stopped 4/66

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 66 NOTICES FOR 6600 OZ  or  0.2052 TONNES

total notices so far: 21,575 contracts for 2,157,500  Oz (67.107 tonnes)

FOR  AUGUST:

SILVER NOTICES: 16 NOTICE(S) FILED FOR 80,000

OZ/

total number of notices filed so far this month : 847 for 4,235,000 oz

XXXXXXXXXXXXXXXXXX

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD UP $9.40 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A MONSTER DEPOSIT OF 4.03 TONNES OF GOLD VAPOUR INTO THE GLD/

/ /INVENTORY RESTS AT 859.00 TONNES

INVENTORY RESTS AT 859.00 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.24 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 1.369 MILLION OZ OF SILVER INTO THE THE SLV/

// INVENTORY AT 466.792 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 466.792 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A STRONG SIZED 422 CONTRACTS TO 148,658 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG SIZED GAIN IN COMEX OI WAS ACCOMPLISHED WITH MAJOR LIQUIDATION OF OI FROM OUR SPREADERS/TAS WITH OUR STRONG GAIN OF $0.39 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING. ZERO AMOUNT OF OUR OI LIQUIDATION ACCOMPANIED OUR HUMONGOUS GAIN OF 1542 CONTRACTS ON OUR TWO EXCHANGES AS WE HAD AGAIN CONSIDERABLE LIQUIDATION OF T.A.S. CONTRACTS DURING MONDAY’S TRADING//. WE HAD ZERO COVERING BY OUR SPECS WITH THE HUGE GAIN IN PRICE AS  WE HAD A HUGE 1120 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 1198 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED 1542 CONTRACTS ON OUR TWO EXCHANGES WITH THE STRONG GAIN 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 AT THE COMEX NOW EVERY DAY..

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 1198 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 UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.39) AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS SIZED GAIN OF 1542 CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUGE 1120 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 80,000 OZ QUEUE JUMP //NEW STANDING RISES TO 4.485 MILLION OZ

//NEW STANDING FOR SILVER//AUGUST IS THUS 4.485 MILLION OZ

WE HAD:

/ STRONG SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1198 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 137 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 14 DAYS, total 13,820 contracts:   OR 69.100 MILLION OZ  (987 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  69.100 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; 69.100 MILLION OZ//THIS MONTH WILL PROBABLY BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF  422 CONTRACTS WITH OUR  GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 1120 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 90,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR AUG  4.485 MILLION OZ 

WE HAVE A HUMONGOUS SIZED GAIN OF 1542  OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A GIGANTIC SIZED 1198 CONTRACTS,//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING WHICH ACCOUNTS FOR A PORTION OF THE HUGE COMEX OI GAIN//// MASSIVE ATTEMPTED 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 MONDAY NIGHT   (1198) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .

WE HAD 16 NOTICE(S) FILED TODAY FOR 80,000 OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 1,006 OI CONTRACTS  TO 526,963 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 1798 CONTRACTS

WE HAD A FAIR SIZED INCREASE  IN COMEX OI (1,006 CONTRACTS) OCCURRED WITH OUR SMALL   GAIN OF $3.05  IN PRICE/MONDAY. 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 5400 OZ QUEUE JUMP AS FINALLY GUYS ARE STANDING FOR GOLD AT THE COMEX

NEW STANDING ADVANCES TO  67.962 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $3.05 GAIN IN PRICE  WITH RESPECT TO MONDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 5,210 OI CONTRACTS (16.205 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. MONDAY SHOULD BE A DANDY FOR TRADING AS CENTRAL BANKS EXERCISE THEIR RIGHTS FOR PHYSICAL GOLD

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 4204 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 526,963

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5210 CONTRACTS  WITH 1006 CONTRACTS INCREASED AT THE COMEX// AND A STRONG SIZED4204 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 5210 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1085 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4204 CONTRACTS) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI OF 1,006 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 5210 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 5400 OZ QUEUE JUMP AS THESE BOYS JUMP THE QUEUE TO STAND AT THE COMEX./

//NEW STANDING ADVANCES TO: /AUGUST 67.967 TONNES. 

 / 3) HUGE T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,

  4) FAIR SIZED COMEX OPEN INTEREST GAIN 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S.  ISSUANCE: 1085 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: 71,008 CONTRACTS OF 7,100,800 OZ OR 220.86 TONNES IN 14 TRADING DAY(S) AND THUS AVERAGING: 5072 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 14 TRADING DAY(S) IN  TONNES  220.86 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  220.86 DIVIDED BY 3550 x 100% TONNES = 6.22% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.

JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS

JULY: 351. 65 TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III) 

AUGUST: 220.86 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 STRONG SIZED  422 CONTRACTS OI  TO 148,658 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 1120 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

SEPT 425  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1120 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 422 CONTRACTS AND ADD TO THE 1120 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 1542 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 7.710 MILLION OZ OCCURRED WITH OUR STRONG  $0.39 GAIN IN PRICE 

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED DOWN 27.06 PTS OR 0.93% //Hang Seng CLOSED DOWN 58.49 PTS OR 0.33% // Nikkei CLOSED HOLIDAY//Australia’s all ordinaries CLOSED UP 0.16%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1454 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1424/ Oil DOWN TO 74.42 dollars per barrel for WTI and BRENT DOWN AT 77,72 Stocks in Europe OPENED MOSTLY ALL RED

ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 1006 CONTRACTS  TO 526,763 WITH OUR SMALL  GAIN IN PRICE OF $3.05 WITH RESPECT TO MONDAY’S TRADING. WE LOST A CONSIDERABLE NUMBER OF SPREADER/T.A.S. CONTRACTS AS SHORTS PANICKED BIG TIME THROUGHOUT THE SESSION AND COVERED WHAT THEY COULD AT HIGHER PRICES. THE FED IS THE MAJOR SHORT OF AROUND 148 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 GOOD T.A.S. LIQUIDATION ON MONDAY’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  HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A STRONG SIZED 4204 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 4204 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 4204 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 STRONG SIZED TOTAL OF 5210 CONTRACTS IN THAT 4204 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR GAIN OF 1006 COMEX  CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR  GAIN IN PRICE OF $3.05/MONDAY 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 MONDAY NIGHT A FAIR  SIZED 1085 CONTRACTS. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS  WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)

THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH  OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE. THE USE OF T.A.S. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN LAST WEEK’S TRADING//RAIDS AS WELL AS THIS WEEK AND ESPECIALLY ON FRIDAY’S HUGE TRADING DAY.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   AUGUST  (67.962 TONNES)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 42 MONTHS OF 2021-2024:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

2024

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 67. 962 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $3.05 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A STRONG GAIN IN OUR TWO EXCHANGES. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A CONSIDERABLE T.A.S. LIQUIDATION FRIDAY/COMEX.

WE HAVE GAINED A TOTAL OI OF 16.205 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 5400 OZ QUEUE JUMP //NEW STANDING: 67.962 TONNES.

NEW STANDING FOR AUGUST: 67.962 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE  TO THE TUNE OF $3.05

WE HAVE REMOVED 1798 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL

NET GAIN ON THE TWO EXCHANGES 5210 CONTRACTS OR 521,000 OZ (16.205

TONNES)

confirmed volume MONDAY 167,230 contracts/poor

//speculators have left the gold arena

END

AUGUST 20      AUGUST  GOLD CONTRACT

/ /// THE AUG 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	115,052.766 oz ASAHI JPMorgan.           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	NIL oz
No of oz served (contracts) today	66 notice(s) 6600 OZ 0.2052 TONNES
No of oz to be served (notices)	275 contracts    27,500 OZ 0.8553 TONNES
Total monthly oz gold served (contracts) so far this month	21575 notices 2,157,500 oz 67.107 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: 2

i) Out of ASAHI 3746.081 oz

ii) Out of JPMorgan: 111,306.685 JPMorgan

TOTAL WITHDRAWALS 115,052.766 oz

adjustments: 1 DEALER TO CUSTOMER JPMorgan: 7716.240 OZ

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST

For the front month of AUGUST we have an oi of 341 contracts having LOST 3244 contracts.

We had 3298 contracts served on MONDAY so we gained an additional 54 contracts or 5400 oz will stand for gold at the comex

SEPT. GAINED 78 CONTRACTS TO STAND AT 5598 CONTRACTS.

OCTOBER GAINED 314 CONTRACTS UP TO 52,477 CONTRACTS

We had 66 contracts filed for today representing 6600  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 notice issued from their client or customer account. The total of all issuance by all participants equate to 66 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 4 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 (21,575) x 100 oz ) to which we add the difference between the open interest for the front month of  August 341( CONTRACTS)  minus the number of notices served upon today  (66 x 100 oz per contract( equals  2,178,400 OZ  OR 67.757 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 (21,575 x 100 oz +we add the difference for front month of AUGUST  (341 X// , OI} minus the number of notices served upon today (66) x 100 oz which equals  2,185,000 oz (67.967 TONNES) 

TOTAL COMEX GOLD STANDING FOR AUGUST: 67.967 TONNES WHICH IS HUGE FOR THIS  VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,734,493.644 oz 53.95 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,398,728.293 OZ  

TOTAL REGISTERED GOLD 7,865,632.174 ( 244.65 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,513,096.119 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,131,139 oz (REG GOLD- PLEDGED GOLD)= 190,70tonnes //

END

SILVER/COMEX

AUGUST 20/2024

INITIAL

//2024// THE AUG 2024  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	2,268,640.560 OZ Brinks Delaware HSBC Loomis .
Deposits to the Dealer Inventory	NIL
Deposits to the Customer Inventory	1193,976.440 oz ASAHI Delaware HSBC
No of oz served today (contracts)	16 CONTRACT(S)    (80,000 OZ)
No of oz to be served (notices)	50 contracts  (0.250 million oz)
Total monthly oz silver served (contracts)	847 Contracts  (4.235 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 Asahi 589,286.200 oz

ii) Into Delaware 6993.180 oz

iii) Into HSBC 597,703.100 oz

total customer deposit 1,193,976.440 oz oz

JPMorgan has a total silver weight: 134.771million oz/306.778 million  or 44.01%

adjustment:0

withdrawals: 4

i)Out of Brinks 992,171.130 oz

ii)Out of DelawaRE 595,976.785 OZ

III) oUT OF hsbc 80,344.260 OZ

IV) oUT LF lOOMIS 600,148.390 OZ

total customer withdrawals: 2,268,640 560 OZ oz

TOTAL REGISTERED SILVER: 69.805 MILLION OZ//.TOTAL REG + ELIGIBLE. 306.778 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:

silver open interest data:

FRONT MONTH OF AUGUST/2024 OI: 66 CONTRACTS HAVING GAINED 2 CONTRACT(S). 

WE HAD 14 NOTICES SERVED ON MONDAY, SO WE GAINED 16 CONTRACTs OR AN ADDITIONAL 80,000 OZ WILL STAND FOR SILVER AT THE COMEX.

SEPT SAW A LOSS OF 3325 CONTRACTS TO 56,588. SEPT NOW BECOMES THE NEW FRONT MONTH

OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 97 CONTRACTS AND THUS WE HAVE 575 OPEN INTEREST CONTRACTS FOR OCTOBER.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 16 for 80,000 oz

CONFIRMED volume; ON MONDAY 81,288 HUGE

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 847 x 5,000 oz = 4.235 MILLION oz 

to which we add the difference between the open interest for the front month of AUGUST( 66) and the number of notices served upon today 16 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST/2024 contract month:  847 notices served so far) x 5000 oz + OI for the front month of AUGUST (66)x number of notices served upon today minus (16)x 5000 oz of silver standing for the AUGUST  contract month equates to 4.485 MILLION OZ. 

 New total standing: 4.485 million oz.

There are 69.904 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 20 WITH GOLD UP $9.40 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A MONSTER DEPOSIT OF 4.03 TONNES OF GOLD VAPOUR INTO THE GLD./ //////INVENTORY RESTS AT 859.00 TONNES

AUGUST 19 WITH GOLD UP $3.05 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A MONSTER DEPOSIT OF 7.19 TONNES OF GOLD VAPOUR INTO THE GLD./ //////INVENTORY RESTS AT 854.97 TONNES

AUGUST 16 WITH GOLD UP $44.65 ON THE DAY; NO CHANGES IN GOLD AT THE GLD: //////INVENTORY RESTS AT 847.78 TONNES

AUGUST 15 WITH GOLD UP $13,70 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A DEPOSIT OF 2.02 TONNES OF GOLD OUT OF THE GLD//////INVENTORY RESTS AT 847.78 TONNES

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: 859.00 TONNES, TONIGHTS TOTAL

SILVER

AUGUST 20//WITH SILVER $0.24//HUGE CHANGES IN SILVER INVENTORY:A DEPOSIT OF 1.369 MILLION OZ FROM THE SLV. .///./// /INVENTORY AT 466.792 MILLION OZ

AUGUST 19//WITH SILVER $0.39//HUGE CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 1.506 MILLION OZ FROM THE SLV. .///./// /INVENTORY AT 465.423 MILLION OZ

AUGUST 16//WITH SILVER $0.49//NO CHANGES IN SILVER INVENTORY: .///./// /INVENTORY AT 466.929 MILLION OZ

AUGUST 15//WITH SILVER $1.14//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 1.186 MILLION ON INTO THE SLV.///./// /INVENTORY AT 466.929 MILLION OZ

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 466.792 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY//BILL HOLTER:

Gold breaking out

It will come as no surprise to those who understand that gold is money and all else is credit that valued in declining fiat gold is going even higher.

Alasdair MacleodAug 20∙Paid

READ IN APP

This morning, gold started rising above last Friday’s all-time high. At the time of writing, it was $2522. The chart is below.

Breaking out of rising wedge is immensely bullish. While investors and central banks elsewhere are catching on, investors in western financial markets are still unaware of what’s happening — they are out of this market entirely. However, it appears that the hedge funds are now awakening to a collapsing dollar. Next up is the USD trade-weighted index.

With a clear death cross, this is very bearish. It is why hedge funds are right to be selling dollars and buying gold futures. And it has encouraged pure momentum traders into gold as well.

Why the sudden turnaround? It may be coincidence, but Kamala Harris is pulling ahead of Donald Trump. Oddschecker has her 9/10 on while trump is 11/10 against. It may be just politics, but she has made some irresponsible statements about price controls and shown a frightening lack of economic understanding. Markets are sensing an irresponsible spendthrift will be in charge of an economy probably already in recession.

Additionally, it is increasingly clear that the Fed’s interest rate reductions in forthcoming FOMC meetings are likely to be greater than originally discounted, leading to USD weakness.

And finally, this morning’s strength in the gold price illustrates that overnight demand from Asian buyers is being absorbed ahead of this morning’s London fix. There might be a mid-morning dip when that effect is passed, but then, all else being equal, we have the prospect of US hedge funds continuing to sell dollars and buy gold futures.

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

4. GOLD PODCASTS//LIVE FROM THE VAULT/no 186 with/Andrew Maguire

end

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/LITHIUM

Never seen anything like this!

(zerohedge)

Huge Protests Target Rio Tinto’s Lithium Project In Serbia – Would Be Europe’s Largest Mine

Tuesday, Aug 20, 2024 – 02:45 AM

A massive, early-stage lithium mining project in Serbia faces huge and animated public opposition, casting some doubt on the viability of a key component of Western Europe’s push for a “green transition” away from fossil fuels. Opposition to the Rio Tinto Group project is powered by a hybrid engine fueled by environmentalism and nationalism. 

The size and intensity of the opposition was on full display earlier this month, as an estimated 24,000 to 27,000 marching protesters filled wide boulevards in Belgrade, chanting “Rio Tinto get out of Serbia” and “you will not dig,” and carrying signs saying “We do not give Serbia away.” Others disrupted train travel by filling two of the city’s stations, with some blocking the tracks. 

Over the past few years, the mine project has been a stop-and-go affair. After Rio Tinto’s license was given the green light in 2019, it was revoked in 2022 amid the final run-up to Serbia’s general election — following months of enormous protests like the one seen a few weeks ago. Then-Prime Minister Ana Brnabic said the decision was made in deference to the protesters, and declared, “We put an end to Riot Tinto in Serbia.” 

This July, however, a court ruled the revocation was unconstitutional, and the license was restored shortly after. Pressure from the European Union likely figured in the change of course — Serbia wants to join the EU. 

If it proceeds to production, Rio Tinto’s $2.55 billion Jadar Valley mine in the western part of the country would be the largest lithium mine in Europe, with the potential to fill 90% of Europe’s current lithium demand. It would also assure Rio Tinto a spot among the global leaders of the mineral that’s a critical ingredient of lithium-ion batteries.

Farmers and activists in Serbia have sparked nationwide protests to stop the building of Rio Tinto's first European lithium mine, warning it would pollute their land and endanger public health https://t.co/QXyP6MuH0l pic.twitter.com/6LCy2skmSP

— Reuters Business (@ReutersBiz) August 9, 2024

“There is no green transition in Europe without this lithium,” Rio Tinto’s top dog in Serbia, Chad Blewitt, told the New York Times. His company has spent more than a half-billion on land acquisitions and exploration already, and it could be another two years until production is underway. Rio Tinto (RIO) shares closed Friday at $61.28, and have traded between $59 and $75 over the past 52 weeks. 

Opposition groups want a permanent, countrywide ban on lithium and boron mining. “We are not going to give up. The mine cannot be built on agricultural land,” 63-year-old protester Mica Miliovanovic told Reuters. “This does not have anything to do with politics.” Separately, 25-year-old Angela Rojovic told the Times, “I don’t need green cars. I need green apples and green grass.”

In a promotional video that aims to reassure Serbians of the mine’s economic benefits and minimal environmental impact, Rio Tinto says “the critical minerals are found below the surface, separated from water sources. Around 200 kilometers of tunnels will link underground mining operations…while farming continues above the mine.” 

https://youtube.com/watch?v=tsskXBmrpEc%3Frel%3D0

Nonetheless, some Serbians say their land is being exploited and their health jeopardized to advance the aims of people outside the country. “[We] fear Serbia will be sacrificed to provide lithium for electric vehicles that pretty much nobody in Serbia can afford,” Green-Left Movement co-director Biljana Djordjevic told the BBC. 

There’s also a geopolitical element: For some, the mine is a litmus test separating those who want to align the country with the United States and Western Europe against those who want to maintain a relationship with Russia. When the latest round of protests erupted, officials claimed the real objective was toppling the government of President Aleksandar Vucic — who himself said intelligence from the Russian Federation indicated a coup was in the works.

In addition to environmentalists, members of the ultranationalist, Russia-friendly People’s Patrol have also joined in the anti-mine protests.  When Vucic decided to back the mine in July at the urging of the EU, it was seen as an indication of his intent to disengage from Russia.   

German officials have been pushing the project hard, with Chancellor Olaf Scholz and Mercedes Benz executives visiting Belgrade last month. However, the German element ruffles some feathers in Serbia. Dragan Karajcic, a politician leading villages in the vicinity of the mine, told the Times he was seething when the Germans assured Serbians the mine would be safe. He pointed to Nazi atrocities that took place in nearby Draginac in 1941, with thousands of civilian executions following similar assurances of the locals’ safety.

Nebojsa Petkovic, a villager who traveled to Belgrade to lead the August 10 protests, told the Times, “Let the Germans save the planet. We need to save ourselves.”

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/TUESDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED DOWN 27.06 PTS OR 0.93% //Hang Seng CLOSED DOWN 58.49 PTS OR 0.33% // Nikkei CLOSED HOLIDAY//Australia’s all ordinaries CLOSED UP 0.16%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1454 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1424/ Oil DOWN TO 74.42 dollars per barrel for WTI and BRENT DOWN AT 77,72 Stocks in Europe OPENED MOSTLY ALL RED

ONSHORE YUAN TRADING BELOW LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING WEAKER AGAINST US DOLLAR/OFFSHORE YUAN WEAKER

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS TUESDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED DOWN TO 7.1454

OFFSHORE YUAN: DOWN TO 7.1424

SHANGHAI CLOSED DOWN 27.06 PTS OR 0.93 %

HANG SENG CLOSED DOWN 58.49 PTS OR 0.33%

2. Nikkei closed

3. Europe stocks   SO FAR:  MOSTLY ALL RED EXCEPT FRANCE

USA dollar INDEX DOWN TO  101.69 EURO FALLS TO 1.1080 DOWN 5 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.895 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 146.45…… 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: DOWN OFFSHORE: DOWN

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil 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 +2.2360/Italian 10 Yr bond yield DOWN to 3.615 SPAIN 10 YR BOND YIELD DOWN TO 3.046%

3i Greek 10 year bond yield DOWN TO 3.294

3j Gold at $2525.25//Silver at: 29.80  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 1 AND 80/ 100  roubles/dollar; ROUBLE AT 91.63

3m oil into the 74 dollar handle for WTI and  77 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 146.45/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.895 % 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 0.8596 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9524 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: 3.874 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.130 UP 1 BASIS PTS/

USA 2 YR BOND YIELD:  4.057 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 33.83…

10 YR UK BOND YIELD: 3.9905 UP 4 PTS

10 YR CANADA BOND YIELD: 3.093 DOWN 2 BASIS PTS

2a New York OPENING REPORT

Futures Flat As Gold Soars To New Record High

Tuesday, Aug 20, 2024 – 08:10 AM

US equity futures are flat after another narrow overnight range, following another euphoric session on Wall Street amid bets the Fed chair Powell will signal it’s ready to start cutting interest rates as soon as this Friday’s Jackson Hole symposium. As of 7:30am ET, S&P futures were up 0.1% to 5,634 while Nasdaq futures also gained 0.1%. MSCI’s all-country stock index headed for a ninth day of increases, its longest winning streak since December. Oil halted its latest rout, treasury 10-year yields held steady around 3.87%, the Bloomberg dollar index was unchanged after sliding to the lowest since March, while gold exploded to a new record high, trading at $2525. It is a quiet session with just the Philly Fed non-mfg activity index on deck.

In premarket trading, home improvement retailer Lowe’s cut its sales and earnings forecast, blaming a frozen housing market. Hawaiian Holdings rose 10% after the US Justice Department decided against challenging its proposed tie-up with Alaska Air. Meanwhile, the European Union said it plans to introduce a 9% tariff on Teslas imported from China. Here are other notable premarket movers:

• Fabrinet shares rise 8.8% after first-quarter forecasts for adjusted earnings per share and revenue topped the average analyst estimates. Analysts note AI momentum as company issues strong outlook for the current quarter.
• FuboTV shares increase 0%, putting the online TV provider on track for its sixth consecutive session of gains. The stock got a boost this week after Fox, Warner Bros. Discovery and Walt Disney were blocked by a judge from launching their streaming sports service rival one week before its rollout
• Kymera shares slide 3.8% after the biopharmaceutical company’s offering priced at $40.75-per-share via Morgan Stanley, JPMorgan, Stifel.
• Vornado Realty Trust shares rise 1.7% after Evercore ISI upgraded the real estate investment trust to outperform from underperform.

On the corporate front, Alimentation Couche-Tard Inc.’s preliminary proposal to buy 7-Eleven owner Seven & i Holdings Co. could be worth more than ¥5.63 trillion ($38.4 billion), based on the Japanese company’s market value after news of the potential deal was disclosed. Edgar Bronfman Jr. submitted a $4.3 billion bid to take control of Paramount Global and quash an existing offer from Skydance Media, Bloomberg reported.

Traders are taking a break after Monday’s session in the US lifted the S&P 500 for an eighth straight day. Stock volumes have been trending lower with investors reluctant to place big bets before central bankers gather for the Fed’s Jackson Hole economic symposium this week.

“What we’ve seen happen is a swath of recent data, which has eased fears about slowing US growth without stoking fears of re-accelerating inflation,” said Kyle Rodda, a senior market analyst at Capital.Com Inc.

With stocks relatively flat, attention has turned now to gold where the precious metal has broken out from its range and is hitting new record highs on an almost daily basis ahead of the coming dollar debasement about to be unleash by the Kam-unist regime of Kamala Harris who plans on “fighting” food inflation with price control. Gold has gained more than 20% this year, in part driven by the view that the Fed’s pivot toward cutting rates was nearing. Banks including UBS and ANZ say that there’s scope for further gains too, not just on the Fed’s policy but on central bank buying and demand for portfolio hedges.

In Europe, technology and travel shares outperformed, keeping the Stoxx 600 within a whisker of recouping August’s losses as investors bet that interest rates in the US will ultimately come down. Technology is the strongest performing sector, with energy the biggest laggard as oil stocks fall on easing supply risks from a potential Gaza cease-fire. Here are some of the biggest European movers on Tuesday:

• Huber+Suhner shares rise as much as 12%, the most in almost 13 years, after the Swiss electrical products manufacturer’s first-half results beat estimates and it confirmed its full-year guidance. Analysts see continued recovery in the second half of the year and Baader says the order flow was particularly impressive.
• Antofagasta gains as much as 0.9% after the copper mine operator reported first-half Ebitda that beat analyst estimates. Citi notes that higher copper prices offset the impact from lower production and higher unit costs.
• European oil stocks are down on Tuesday as oil extended the biggest drop in two weeks after the US said Israel accepted a cease-fire proposal in Gaza, potentially easing supply risks as concerns about the global demand outlook mount. Biggest laggards in terms of index points are Shell (-1.7%), BP (-1.7%), TotalEnergies (-1.2%), Equinor (-1.7%), Aker BP (-2.7%) and Eni (-0.4%)
• BT shares slide as much as 6% amid competition worries, after Sky struck a deal to launch its broadband services on CityFibre’s network from next year.
• Coloplast falls as much as 3.5%, the most since May, after the Danish ostomy and wound care company reported 3Q margins that fell short of estimates. The miss was a key negative in an otherwise overall in-line report where it also reiterated guidance, analysts say.
• DocMorris shares plunge as much as 17% after the pharmaceutical products retailer warned it is expecting to book a bigger annual adjusted Ebitda loss than previously anticipated as it reported interim results. Analysts at Jefferies say the weaker bottom-line target was expected, but the reduced revenue growth goal is the main disappointment.
• Wood Group shares swing between gains and losses after the Scottish engineering firm published mixed first-half results. Analysts weighed goodwill impairments and the net loss against some signs of recovery and stabilization, especially as the company held its guidance steady for the year, after Sidara ended takeover interest in Wood Group this month.

The recent turmoil in financial markets has left strategists unfazed about the outlook for European stocks. The benchmark gauge is seen ending the year at 535 points — about 4.6% above Friday’s close, according to the median estimate in a Bloomberg survey of 16 strategists. Still, increasing risks to the region’s growth outlook have reinforced the case for a policy adjustment when the European Central Bank meets next month, Governing Council member Olli Rehn said. Markets are pricing in at least two more rate reductions this year.

Asian stocks gained for a third day, helped by advances in Japan and South Korea amid optimism over Fed rate cuts. The MSCI Asia Pacific Index rose as much as 0.7%, with SK Hynix, Keyence and Samsung Electronics the biggest contributors to the advance. Key gauges in Japan climbed as the yen’s rally against the dollar stalled, supporting exporters such as tech companies and automakers. South Korean and Thai equities also gained.

In FX, the Bloomberg Dollar Spot Index is also little changed, trading near a 6 month low. The kiwi dollar tops the G-10 FX leader board, rising 0.4% against the greenback. The Swedish krona rises 0.3% even after the Riksbank cut interest rates and sketched out more easing than its previous guidance.

In rates, treasuries are steady, with US 10-year yields at 3.87%. The curve is steeper, unwinding much of Monday’s flattening move in 2s10s and 5s30s spreads. Corporate new-issue calendar may dominate the session, with Kroger expected to bring one of this year’s largest deals.

In commodities, WTI fell 0.6% to $73.95 after the US said Israel accepted a cease-fire proposal in Gaza, which however has zero chance of being accepted by Hamas. Copper steadied after a recent rebound and gold jumped by $18 to a record $2,525 an ounce on expectations that the Fed is poised to cut interest rates. Bitcoin gained 2%.

It’s a quiet day: on the US economic calendar we only get the August Philadelphia Fed non-manufacturing activity at 8:30am. Fed speaker slate includes Bostic (1:35pm) and Barr (2:45pm)

Market Snapshot

• S&P 500 futures little changed at 5,631.50
• STOXX Europe 600 little changed at 514.79
• MXAP up 0.6% to 184.89
• MXAPJ up 0.4% to 576.07
• Nikkei up 1.8% to 38,062.92
• Topix up 1.1% to 2,670.54
• Hang Seng Index down 0.3% to 17,511.08
• Shanghai Composite down 0.9% to 2,866.66
• Sensex up 0.6% to 80,873.27
• Australia S&P/ASX 200 up 0.2% to 7,997.73
• Kospi up 0.8% to 2,696.63
• German 10Y yield little changed at 2.24%
• Euro little changed at $1.1084
• Brent Futures down 1.2% to $76.71/bbl
• Gold spot up 0.5% to $2,517.95
• US Dollar Index little changed at 101.79

Top Overnight News

• Former US President Trump said he would consider ending the USD 7,500 electric vehicle tax credit and if elected, he would tap Elon Musk for a cabinet or advisory role if Musk would do it, according to an interview. Trump later stated that VP Harris informed that she will not do the Fox News debate on September 4th and he will conduct a tele-town hall, according to a post on Truth Social.
• Central bankers gathering this week for one of the world’s most prominent annual economic forums are set to find themselves more divided than perhaps any time since before the pandemic.
• Increasing risks to Europe’s growth outlook have reinforced the case for a policy adjustment when the European Central Bank meets next month, according to Governing Council member Olli Rehn.
• US Secretary of State Antony Blinken said Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to halt the war in Gaza and the next step is for “Hamas to say yes,” putting the onus on the group to end the 10-month conflict even as violence continued.
• A price war is spreading across China’s new-home market, as local governments dial back on intervention and developers race to recoup cash.
• Sweden’s Riksbank lowered borrowing costs and outlined more easing than previously expected as inflation has fallen below its target and the largest Nordic economy is sputtering.
• Oil extended the biggest drop in two weeks as the US said Israel accepted a cease-fire proposal in Gaza, potentially easing supply risks as concerns about the global demand outlook mount.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed and only partially took impetus from the tech-led gains stateside amid a lack of major macro drivers. ASX 200 edged mild gains with stock news in Australia dominated by earnings releases, while the RBA Minutes noted it is possible the cash rate would have to stay steady for an extended period and members agreed a rate cut in the short term was unlikely. Nikkei 225 outperformed and reclaimed the 38,000 level despite the absence of notable catalysts. Hang Seng and Shanghai Comp. declined amid lingering economic concerns, while China also maintained its Loan Prime Rates which was widely expected after last month’s bout of cuts to key funding rates.

Top Asian news

• Chinese Loan Prime Rate 1Y (Aug) 3.35% vs. Exp. 3.35% (Prev. 3.35%); 5Y 3.85% vs. Exp. 3.85% (Prev. 3.85%)
• China is unleashing billions of dollars of lending to technology start-ups and other small companies using their intellectual property as collateral as Beijing seeks to revive demand for loans and stimulate a lagging economy, according to FT.
• RBA Minutes from the August 5th-6th meeting stated the board considered the case to raise rates but decided a steady outcome better balanced the risks and it is possible the cash rate would have to stay steady for an extended period. Members agreed it is unlikely rates would be cut in the short term and they need to be vigilant to upside risks to inflation, while policy would need to remain restrictive and it was noted that an immediate hike in rates could be justified if risks to inflation had increased materially. Furthermore, members also observed that holding the cash rate target steady at its current level for a longer period than currently implied by market pricing may be sufficient to return inflation to target in a reasonable timeframe, but the Board will need to reassess this possibility at future meetings.
• China is said to be mulling allowing local governments to issue bonds for home purchases, according to Bloomberg sources.

European bourses, Stoxx 600 (+0.1%) are mostly, but modestly firmer (ex-FTSE 100), continuing the strength seen on Wall St in the prior session. FTSE 100 (-0.6%) is the worst performing index in Europe, weighed on by losses in Energy names amid the broader weakness in underlying oil prices; Shell (-1.8%), BP (-1.6%). European sectors are mixed; Tech takes the top spot, continuing the strength seen in the US on Monday. Travel & Leisure is also one of the better performers, benefiting from the recent drop in oil prices – as such, Energy is found at the foot of the pile. US Equity Futures (ES U/C, NQ U/C, RTY U/C) are flat, taking a breather following the significant strength seen in the prior session.

Top European news

• ECB’s Rehn said there are no clear signs of a pick-up in the manufacturing sector, while he added the recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September.
• Riksbank cuts its Rate by 25bps as expected to 3.50% (prev. 3.75%); Policy rate can be cut two or three more times this year – somewhat faster than the Board expected in June.
• Riksbank’s Governor Thedeen says moving gradually with rates is part of central bank strategy. There are good reasons to keep SEK on the Riksbank’s radar. Inflation is not under target, it is currently in line with target.

FX

• DXY is flat with the dollar showing mixed performance vs. peers. DXY remains stuck below the 102.00 mark in catalyst light trade as investors eye key risk events later in the week, including Jackson Hole and FOMC Minutes.
• EUR is flat vs. the USD in quiet newsflow. EUR on Monday was able to extend its advance on a 1.10 handle and has today printed a fresh YTD high at 1.1088.
• Cable has managed to poke its head above the 1.30 mark for the first time since July 18th, despite the lack of clear UK-specific catalysts.
• JPY is flat with USD/JPY well within yesterday’s 145.19-148.05 range with newsflow out of Japan and the US on the light side in the run up to the Jackson Hole event later in the week and BoJ Governor Ueda’s appearance before Parliament on the 23rd August.
• AUD is steady vs. the USD after a recent run of gains which has seen the pair gain a firm footing on a 0.67 handle and top out today at 0.6738.
• CAD is broadly steady vs. the USD in the run up to Canadian inflation metrics which are expected to see a pullback in the Y/Y rate and an increase in the M/M print.
• SEK was fairly unreactive to the Riksbank decision to cut rates by 25bps to 3.50%. The guidance for “two or three more times this year” in terms of policy cuts is a dovish shift vs the guidance seen at the last gathering for “two or three times in H2”, as it opens the door to a cut per meeting in H2.
• PBoC set USD/CNY mid-point at 7.1325 vs exp. 7.1317 (prev. 7.1415).

Fixed Income

• USTs are contained within a thin six-tick range with the benchmark yet to lastingly deviate from the unchanged mark. Data docket remains light, but Fed speak sees Barr and Bostic later today.
• A firmer start with EGBs finding a grinding bid early doors, but a slight dip to the 134.09 low was seen on German Producer Price metrics which ticked up from the prior Y/Y.
• Bunds then edged higher throughout the morning, to a 134.41 peak, approaching Monday’s 134.62 best; but some modest pressure was seen following Bloomberg reports that China is said to be considering allowing local gov’ts to issue bonds for home buying. Bunds were unreactive to the Green Bund auction.
• Gilts are modestly firmer in a narrow 99.74-99.88 band, which is entirely within the parameters of both Monday and Friday.
• Germany sells EUR 0.734bln vs exp. EUR 0.75bln 2.30% 2033 Green Bund & EUR 0.727bln vs exp. EUR 0.75bln 0.00% 2050 Green Bund. Sells EUR 0.734bln 2.30% 2033: b/c 3.3x (prev. 3.4x), average yield 2.16% (prev. 2.51%) & retention 2.13% (prev. 15.4%). Sells EUR 0.727bln 0.00% 2050: b/c 1.6x (prev. 2.2x), average yield 2.42% (prev. 2.41%) & retention 3.07% (prev. 20.2%)

Commodities

• Crude is softer intraday and continuing the price action seen on Monday, with focus on continued Gaza ceasefire talks and a weak Chinese economy. Brent October sits towards the lower end of a USD 76.55-77.77/bbl parameter.
• Precious metals are firmer across the board with broad-based modest gains against the backdrop of a subdued Dollar and with geopolitical risks looming. Spot gold printed a fresh all-time-high at USD 2,521.30/oz (vs low USD 2,497.51/oz).
• Base metals are mostly firmer across the board but to varying degrees, with copper prices somewhat flat intraday with some suggesting a short-covering rally ended amid China growth woes.
• LME Stocks: Copper +11975 (prev. -975).
• Equinor (EQNR NO) has commenced work to resume oil and gas output from Norway’s Gullfaks C platform.

Geopolitics – Middle East

• US President Biden says Hamas is ‘backing down’ from Gaza deal, according to AFP cited by Sky News Arabia.
• “[Israel-Hamas ceasefire] Negotiations scheduled in Cairo are expected to be postponed until the end of the week due to lack of progress in contacts”, according to Sky News Arabia citing Israeli official and diplomats via Israeli Broadcasting Corp
• Israeli PM Netanyahu accepted the updated proposal that includes some of his new demands because he knew that Hamas would reject it, according to Al Jazeera citing Axios quoting Israeli officials.
• US Secretary of State Blinken made it clear to Israeli PM Netanyahu that the US expects negotiations to continue until an agreement is reached, according to Al Jazeera citing Axios sources.
• Hamas senior official Hamdan said they confirmed to mediators that they don’t need new Gaza negotiations and what they need is to agree on an implementation mechanism. Hamdan added that US Secretary of State Blinken’s statement that Netanyahu accepted an updated proposal ‘raises many ambiguities’ since it is not what was presented to them and not what was agreed on, according to Reuters.
• Iran’s Foreign Ministry said they affirm the right to respond to the attack on their sovereignty and will do so at the appropriate time.
• Iran’s mission to the UN said they have no intention to interfere in US elections and demanded evidence from Washington after Tehran was accused of targeting the Trump campaign electronically.

Geopolitics – Ukraine

• Ukrainian military said its forces experienced repeated attacks in the Toretsk zone, Donetsk region and that its forces were under heavy Russian attack around Pokrovsk, eastern Ukraine. Ukrainian military later announced that air defence units were engaged in repelling a Russian air attack on Kyiv.
• Russia on Monday ruled out any peace talks with Ukraine despite Kyiv raising pressure on the Kremlin by claiming fresh advances in its offensive into Russian territory, according to AFP.
• US and South Korea are holding joint air drills to counter North Korean threat, according to Reuters.

US Event Calendar

• 08:30: Aug. Philadelphia Fed Non-mfg, prior -19.1

Central Bank Speakers

• 13:35: Fed’s Bostic on Innovating for Inclusion
• 14:45: Fed’s Barr Speaks on Cybersecurity

2B) European report

Equities take a breather following the prior day’s strength, DXY flat & XAU makes a fresh ATH; Fed speak due – Newsquawk US Market Open

Tuesday, Aug 20, 2024 – 06:01 AM

• European equities are mostly, but modestly firmer (ex-FTSE 100); US futures are flat
• Dollar is flat, NZD outperforms and USD/JPY back to 146.50
• Bonds are incrementally firmer, Bunds dipped slightly on German Producer Prices but then edged higher as the morning progressed
• Crude is lower in a continuation of the prior day’s price action; XAU prints another fresh ATH at USD 2521/oz and base metals gain
• Looking ahead, Canadian CPI, CBRT Policy Announcement, US Primary (down-ticket), Democratic Convention, Comments from Fed’s Bostic & Barr, Earnings from Lowe’s & Medtronic

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.1%) are mostly, but modestly firmer (ex-FTSE 100), continuing the strength seen on Wall St in the prior session.
• FTSE 100 (-0.6%) is the worst performing index in Europe, weighed on by losses in Energy names amid the broader weakness in underlying oil prices; Shell (-1.8%), BP (-1.6%).
• European sectors are mixed; Tech takes the top spot, continuing the strength seen in the US on Monday. Travel & Leisure is also one of the better performers, benefiting from the recent drop in oil prices – as such, Energy is found at the foot of the pile.
• US Equity Futures (ES U/C, NQ U/C, RTY U/C) are flat, taking a breather following the significant strength seen in the prior session.
• Antofagasta (ANTO LN) H1 (USD): Pretax 712.6mln (exp. 654mln), Revenue 2.955bln (exp. 2.833bln), EBITDA 1.394bln (exp. 1.348bln).
• Tesla (TSLA) has reportedly secured a lower, individual duty on EVs made in China which are shipped to the EU, via Politico; duty of 9% being proposed (vs. provisional levy of 21%); Volkswagen (VOW3 GY) to receive lower tariffs of 21.3% from European Commission on its China-made Cupra Tavascan, down from a provisional 37.6%, according to sources.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY is flat with the dollar showing mixed performance vs. peers. DXY remains stuck below the 102.00 mark in catalyst light trade as investors eye key risk events later in the week, including Jackson Hole and FOMC Minutes.
• EUR is flat vs. the USD in quiet newsflow. EUR on Monday was able to extend its advance on a 1.10 handle and has today printed a fresh YTD high at 1.1088.
• Cable has managed to poke its head above the 1.30 mark for the first time since July 18th, despite the lack of clear UK-specific catalysts.
• JPY is flat with USD/JPY well within yesterday’s 145.19-148.05 range with newsflow out of Japan and the US on the light side in the run up to the Jackson Hole event later in the week and BoJ Governor Ueda’s appearance before Parliament on the 23rd August.
• AUD is steady vs. the USD after a recent run of gains which has seen the pair gain a firm footing on a 0.67 handle and top out today at 0.6738.
• CAD is broadly steady vs. the USD in the run up to Canadian inflation metrics which are expected to see a pullback in the Y/Y rate and an increase in the M/M print.
• SEK was fairly unreactive to the Riksbank decision to cut rates by 25bps to 3.50%. The guidance for “two or three more times this year” in terms of policy cuts is a dovish shift vs the guidance seen at the last gathering for “two or three times in H2”, as it opens the door to a cut per meeting in H2.
• PBoC set USD/CNY mid-point at 7.1325 vs exp. 7.1317 (prev. 7.1415).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are contained within a thin six-tick range with the benchmark yet to lastingly deviate from the unchanged mark. Data docket remains light, but Fed speak sees Barr and Bostic later today.
• A firmer start with EGBs finding a grinding bid early doors, but a slight dip to the 134.09 low was seen on German Producer Price metrics which ticked up from the prior Y/Y.
• Bunds then edged higher throughout the morning, to a 134.41 peak, approaching Monday’s 134.62 best; but some modest pressure was seen following Bloomberg reports that China is said to be considering allowing local gov’ts to issue bonds for home buying. Bunds were unreactive to the Green Bund auction.
• Gilts are modestly firmer in a narrow 99.74-99.88 band, which is entirely within the parameters of both Monday and Friday.
• Germany sells EUR 0.734bln vs exp. EUR 0.75bln 2.30% 2033 Green Bund & EUR 0.727bln vs exp. EUR 0.75bln 0.00% 2050 Green Bund. Sells EUR 0.734bln 2.30% 2033: b/c 3.3x (prev. 3.4x), average yield 2.16% (prev. 2.51%) & retention 2.13% (prev. 15.4%). Sells EUR 0.727bln 0.00% 2050: b/c 1.6x (prev. 2.2x), average yield 2.42% (prev. 2.41%) & retention 3.07% (prev. 20.2%)
• Click for a detailed summary

COMMODITIES

• Crude is softer intraday and continuing the price action seen on Monday, with focus on continued Gaza ceasefire talks and a weak Chinese economy. Brent October sits towards the lower end of a USD 76.55-77.77/bbl parameter.
• Precious metals are firmer across the board with broad-based modest gains against the backdrop of a subdued Dollar and with geopolitical risks looming. Spot gold printed a fresh all-time-high at USD 2,521.30/oz (vs low USD 2,497.51/oz).
• Base metals are mostly firmer across the board but to varying degrees, with copper prices somewhat flat intraday with some suggesting a short-covering rally ended amid China growth woes.
• LME Stocks: Copper +11975 (prev. -975).
• Equinor (EQNR NO) has commenced work to resume oil and gas output from Norway’s Gullfaks C platform.
• Click for a detailed summary

NOTABLE DATA RECAP

• German Producer Prices YY (Jul) -0.8% vs. Exp. -0.8% (Prev. -1.6%); MM (Jul) 0.2% vs. Exp. 0.2% (Prev. 0.2%)
• Swiss Trade (Jul) 4.889B CH (Prev. 6.180B CH, Rev. 6.117B CH); Swiss Watch Exports Y/Y +1.6% (prev. -7.2%)
• EU HICP Final MM (Jul) 0.0% (Prev. 0.2%); HICP-X F, E, A, T Final MM (Jul) -0.2% vs. Exp. -0.2% (Prev. -0.2%); HICP-X F&E Final YY (Jul) 2.8% vs. Exp. 2.8% (Prev. 2.8%); HICP-X F,E,A&T Final YY (Jul) 2.9% vs. Exp. 2.9% (Prev. 2.9%); HICP Final YY (Jul) 2.6% vs. Exp. 2.6% (Prev. 2.6%); HICP-X F&E MM (Jul) -0.1% (Prev. 0.4%)
• EU Current Account NSA,EUR (Jun) 52.4B (Prev. 9.6B); SA, EUR (Jun) 51.0B (Prev. 36.7B)

NOTABLE EUROPEAN HEADLINES

• ECB’s Rehn said there are no clear signs of a pick-up in the manufacturing sector, while he added the recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September.
• Riksbank cuts its Rate by 25bps as expected to 3.50% (prev. 3.75%); Policy rate can be cut two or three more times this year – somewhat faster than the Board expected in June. Click for details.
• Riksbank’s Governor Thedeen says moving gradually with rates is part of central bank strategy. There are good reasons to keep SEK on the Riksbank’s radar. Inflation is not under target, it is currently in line with target.

NOTABLE US HEADLINES

• Former US President Trump said he would consider ending the USD 7,500 electric vehicle tax credit and if elected, he would tap Elon Musk for a cabinet or advisory role if Musk would do it, according to an interview. Trump later stated that VP Harris informed that she will not do the Fox News debate on September 4th and he will conduct a tele-town hall, according to a post on Truth Social.

GEOPOLITICS

MIDDLE EAST

• US President Biden says Hamas is ‘backing down’ from Gaza deal, according to AFP cited by Sky News Arabia.
• “[Israel-Hamas ceasefire] Negotiations scheduled in Cairo are expected to be postponed until the end of the week due to lack of progress in contacts”, according to Sky News Arabia citing Israeli official and diplomats via Israeli Broadcasting Corp
• Israeli PM Netanyahu accepted the updated proposal that includes some of his new demands because he knew that Hamas would reject it, according to Al Jazeera citing Axios quoting Israeli officials.
• US Secretary of State Blinken made it clear to Israeli PM Netanyahu that the US expects negotiations to continue until an agreement is reached, according to Al Jazeera citing Axios sources.
• Hamas senior official Hamdan said they confirmed to mediators that they don’t need new Gaza negotiations and what they need is to agree on an implementation mechanism. Hamdan added that US Secretary of State Blinken’s statement that Netanyahu accepted an updated proposal ‘raises many ambiguities’ since it is not what was presented to them and not what was agreed on, according to Reuters.
• Iran’s Foreign Ministry said they affirm the right to respond to the attack on their sovereignty and will do so at the appropriate time.
• Iran’s mission to the UN said they have no intention to interfere in US elections and demanded evidence from Washington after Tehran was accused of targeting the Trump campaign electronically.

OTHER

• Ukrainian military said its forces experienced repeated attacks in the Toretsk zone, Donetsk region and that its forces were under heavy Russian attack around Pokrovsk, eastern Ukraine. Ukrainian military later announced that air defence units were engaged in repelling a Russian air attack on Kyiv.
• Russia on Monday ruled out any peace talks with Ukraine despite Kyiv raising pressure on the Kremlin by claiming fresh advances in its offensive into Russian territory, according to AFP.
• US and South Korea are holding joint air drills to counter North Korean threat, according to Reuters.

CRYPTO

• Bitcoin edges higher and passed USD 60k to the upside; Ethereum also posts modest gains and climbs above USD 2.6k.

APAC TRADE

• APAC stocks traded mixed and only partially took impetus from the tech-led gains stateside amid a lack of major macro drivers.
• ASX 200 edged mild gains with stock news in Australia dominated by earnings releases, while the RBA Minutes noted it is possible the cash rate would have to stay steady for an extended period and members agreed a rate cut in the short term was unlikely.
• Nikkei 225 outperformed and reclaimed the 38,000 level despite the absence of notable catalysts.
• Hang Seng and Shanghai Comp. declined amid lingering economic concerns, while China also maintained its Loan Prime Rates which was widely expected after last month’s bout of cuts to key funding rates.

NOTABLE ASIA-PAC HEADLINES

• Chinese Loan Prime Rate 1Y (Aug) 3.35% vs. Exp. 3.35% (Prev. 3.35%); 5Y 3.85% vs. Exp. 3.85% (Prev. 3.85%)
• China is unleashing billions of dollars of lending to technology start-ups and other small companies using their intellectual property as collateral as Beijing seeks to revive demand for loans and stimulate a lagging economy, according to FT.
• RBA Minutes from the August 5th-6th meeting stated the board considered the case to raise rates but decided a steady outcome better balanced the risks and it is possible the cash rate would have to stay steady for an extended period. Members agreed it is unlikely rates would be cut in the short term and they need to be vigilant to upside risks to inflation, while policy would need to remain restrictive and it was noted that an immediate hike in rates could be justified if risks to inflation had increased materially. Furthermore, members also observed that holding the cash rate target steady at its current level for a longer period than currently implied by market pricing may be sufficient to return inflation to target in a reasonable timeframe, but the Board will need to reassess this possibility at future meetings.
• China is said to be mulling allowing local governments to issue bonds for home purchases, according to Bloomberg sources.
• Xpeng Inc (XPEV) Q2 2024 (CNY): Revenue 8.11bln (exp. 8.23bln). Net Income -1.28bln (exp. -1.64bln), Adj. Net Income -1.22bln. GUIDANCE: Sees Q3 revenue between CNY 9.1-9.8bln (exp. 10.02bln)

2C) ASIAN REPORT

PY has given back some strength, Cable yet to breach 1.30, DXY still sub-102.00 – Newsquawk Europe Market Open

Tuesday, Aug 20, 2024 – 01:27 AM

• APAC stocks traded mixed and only partially took impetus from the tech-led gains stateside amid a lack of major macro drivers.
• European equity futures indicate a slightly positive open with Euro Stoxx 50 future up 0.1% after the cash market finished with gains of 0.6% on Monday.
• DXY remains sub-102, JPY has given back some gains vs. the USD, Cable is unable to breach 1.30.
• ECB’s Rehn said the recent increase in negative growth risks in the euro area has reinforced the case for a September rate cut.
• Looking ahead, highlights include German Producer Prices, EZ HICP (F), Canadian CPI, Riksbank & CBRT Policy Announcement, Comments from Riksbank’s Thedeen, Fed’s Bostic & Barr, Supply from Germany, Earnings from Antofagasta, Lowe’s & Medtronic.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

US TRADE

EQUITIES

• US stocks began the week on the front foot with outperformance in the Nasdaq 100 which was buoyed by gains in Nvidia (+4.4%) in a day of very sparse newsflow and a very quiet calendar. Nonetheless, all sectors were exclusively in the green with large-cap Technology, Communication Services, and Consumer Discretionary at the top of the pile, while Consumer Staples and Energy were the respective laggards but still finished higher with gains in the latter capped amid pressure in the crude complex owing to continued Gaza ceasefire talks and Chinese economic concerns.
• SPX +0.97% at 5,608, NDX +1.32% at 19,766, DJIA +0.58% at 40,897, RUT +1.20% at 1.19% at 2,168.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Former US President Trump said he would consider ending the USD 7,500 electric vehicle tax credit and if elected, he would tap Elon Musk for a cabinet or advisory role if Musk would do it, according to an interview. Trump later stated that VP Harris informed that she will not do the Fox News debate on September 4th and he will conduct a tele-town hall, according to a post on Truth Social.

APAC TRADE

EQUITIES

• APAC stocks traded mixed and only partially took impetus from the tech-led gains stateside amid a lack of major macro drivers.
• ASX 200 edged mild gains with stock news in Australia dominated by earnings releases, while the RBA Minutes noted it is possible the cash rate would have to stay steady for an extended period and members agreed a rate cut in the short term was unlikely.
• Nikkei 225 outperformed and reclaimed the 38,000 level despite the absence of notable catalysts.
• Hang Seng and Shanghai Comp. declined amid lingering economic concerns, while China also maintained its Loan Prime Rates which was widely expected after last month’s bout of cuts to key funding rates.
• US equity futures held on to recent gains but with further upside capped ahead of key events.
• European equity futures indicate a slightly positive open with Euro Stoxx 50 future up 0.1% after the cash market finished with gains of 0.6% on Monday.

FX

• DXY sat beneath the 102.00 level after weakening yesterday amid strength in its major counterparts, while newsflow was light and the calendar stateside is quiet early in the week ahead of upcoming key events including the Jackson Hole Symposium.
• EUR/USD plateaued overnight after having gained a firm footing at the 1.1000 handle.
• GBP/USD took a breather following recent advances with momentum capped by resistance near the 1.3000 level.
• USD/JPY initially dipped below the 146.00 level but then staged a recovery and briefly returned to 147.00 territory.
• Antipodeans held on to most of the spoils from Monday’s outperformance with an ultimately muted reaction seen after the RBA Minutes from the August meeting which noted holding the cash rate target steady for a longer period than currently implied by market pricing may be sufficient to return inflation to target in a reasonable timeframe, but the Board will need to reassess this possibility at future meetings.
• PBoC set USD/CNY mid-point at 7.1325 vs exp. 7.1317 (prev. 7.1415).

FIXED INCOME

• 10-year UST futures lacked demand amid light macro catalysts and as participants await upcoming key events.
• Bund futures were rangebound after the prior day’s whipsawing, while German PPI data and Bund supply are due later.
• 10-year JGB futures traded indecisively amid outperformance in Japanese stocks and mixed 20-year JGB auction results.

COMMODITIES

• Crude futures were subdued after yesterday’s declines amid Gaza ceasefire efforts and China economic concerns.
• Spot gold traded sideways amid a lack of catalysts and remained around the USD 2,500/oz level.
• Copper futures marginally pulled back after recent advances and amid the mixed risk appetite in Asia.

CRYPTO

• Bitcoin rallied overnight after breaking back above the USD 60,000 level.

NOTABLE ASIA-PAC HEADLINES

• Chinese Loan Prime Rate 1Y (Aug) 3.35% vs. Exp. 3.35% (Prev. 3.35%)
• Chinese Loan Prime Rate 5Y (Aug) 3.85% vs. Exp. 3.85% (Prev. 3.85%)
• China is unleashing billions of dollars of lending to technology start-ups and other small companies using their intellectual property as collateral as Beijing seeks to revive demand for loans and stimulate a lagging economy, according to FT.
• RBA Minutes from the August 5th-6th meeting stated the board considered the case to raise rates but decided a steady outcome better balanced the risks and it is possible the cash rate would have to stay steady for an extended period. Members agreed it is unlikely rates would be cut in the short term and they need to be vigilant to upside risks to inflation, while policy would need to remain restrictive and it was noted that an immediate hike in rates could be justified if risks to inflation had increased materially. Furthermore, members also observed that holding the cash rate target steady at its current level for a longer period than currently implied by market pricing may be sufficient to return inflation to target in a reasonable timeframe, but the Board will need to reassess this possibility at future meetings.

GEOPOLITICAL

MIDDLE EAST

• Israel conducted a strike which targeted a Hezbollah arms depot in Lebanon’s Bekaa valley, according to Reuters citing two security sources.
• Israeli PM Netanyahu confirmed they are working to release the largest number of hostages in the first phase of the deal, according to Al Arabiya.
• Israeli PM Netanyahu accepted the updated proposal that includes some of his new demands because he knew that Hamas would reject it, according to Al Jazeera citing Axios quoting Israeli officials.
• US Secretary of State Blinken made it clear to Israeli PM Netanyahu that the US expects negotiations to continue until an agreement is reached, according to Al Jazeera citing Axios sources. It was separately reported that Blinken said everyone should avoid taking steps or measures that escalate tensions and expand violence, while Blinken said the meeting with Netanyahu was constructive and Netanyahu assured him Israel accepted the proposal which Hamas must now accept.
• Hamas senior official Hamdan said they confirmed to mediators that they don’t need new Gaza negotiations and what they need is to agree on an implementation mechanism. Hamdan added that US Secretary of State Blinken’s statement that Netanyahu accepted an updated proposal ‘raises many ambiguities’ since it is not what was presented to them and not what was agreed on, according to Reuters.
• Senior Hamas official said they agreed to the proposal made by US President Biden and the US administration failed to convince Netanyahu of it, while the official said the Israelis retracted issues included in Biden’s paper and Netanyahu’s talk about approving an updated proposal means the US failed to convince him of the agreement. Furthermore, the Hamas official said they only want to implement President Biden’s proposal which they agreed to and they do not know the exact updated proposal, but the Israeli delegation that came to Doha presented conditions that contradict it, according to Al Jazeera.
• Sources close to Hezbollah told Lebanon’s Al-Jadid TV that Hezbollah tied its response to the killing of Fouad Shukr in Beirut to the outcome of the negotiations which is similar to assessments made by Israeli and American officials, according to Kann News. However, the sources said that with Hamas’ rejection of the latest proposal, Hezbollah felt that it was freed from the limitations of waiting for the outcome of the negotiations.
• Iran’s Foreign Ministry said they affirm the right to respond to the attack on their sovereignty and will do so at the appropriate time, while it was also reported that an IRGC Deputy Commander said Haniyeh’s revenge is inevitable and will be carried out in due course, according to Al Jazeera.
• Iran’s mission to the UN said they have no intention to interfere in US elections and demanded evidence from Washington after Tehran was accused of targeting the Trump campaign electronically.

OTHER

• Ukrainian military said its forces experienced repeated attacks in the Toretsk zone, Donetsk region and that its forces were under heavy Russian attack around Pokrovsk, eastern Ukraine. Ukrainian military later announced that air defence units were engaged in repelling a Russian air attack on Kyiv.
• Russia on Monday ruled out any peace talks with Ukraine despite Kyiv raising pressure on the Kremlin by claiming fresh advances in its offensive into Russian territory, according to AFP.
• US and South Korea are holding joint air drills to counter North Korean threat, according to Reuters.

EU/UK

NOTABLE HEADLINES

• ECB’s Rehn said there are no clear signs of a pick-up in the manufacturing sector, while he added the recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next ECB monetary policy meeting in September.

2D JAPAN

3 CHINA

CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EU/CHINA/TESLA

EU cuts its planned tariffs on China-made Tesla’s to 9%. Other EV vehicles higher. Telsa the big winner

(zerohedge)

EU Cuts Planned Tariffs On Tesla’s China-Made EVs To 9%

Tuesday, Aug 20, 2024 – 07:45 AM

The European Commission announced this AM that, in its ongoing findings of an anti-subsidy investigation into Chinese imports of battery electric vehicles, all Tesla vehicles imported from China will be subject to a 9% tariff. Proposed tariffs on other EV companies were revised slightly ahead of what could become EU trade policy later this year.

Of all the proposed duties on Chinese EVs imported to the EU, Tesla appears to be the big winner and will pay the lowest rate of 9%. Reuters noted the EU “set a new reduced rate of 9% for Tesla, lower than the 20.8% it had indicated in July.” 

As for MG maker SAIC Motor Corp., Volvo Car AB parent Geely, and BYD Co., each of these companies face duties of 36.3%, 19.3%, and 17%, respectively. 

Other cooperating companies would be subject to a 21.3% tariff, while non-cooperating companies would be slapped with a 36.3% rate. These rates would be added to the current 10% duty faced by Chinese exporters. 

EU officials explained that Beijing’s apparent lack of subsidies for foreign-owned companies was one factor in the tariff calculation. 

The revised draft tariff decision burdens companies that make EVs in China and export them to Europe. The current duty is around 10%. 

The duties are part of an anti-subsidy investigation launched earlier this year. About 100 firms were investigated. The big finding included market-distorting subsidies across China’s entire EV supply chain. 

The Commission said EV companies subjected to proposed tariffs have ten days until Aug. 30 to provide comments and request hearings. If a qualified EU majority votes in favor of the final regulation, the tariffs could become law by Oct. 30 and remain in effect for five years, with the option extensions upon review. 

Meanwhile, Brussels and Beijing have been locked in technical talks to find an alternative solution. Any solution would need to comply with the World Trade Organization. 

“The EU is open to reaching an alternative solution on the position of the duties that would be effective and WTO [World Trade Organization] compatible. It would align with WTO rules and provide a solution to the problems we find,” a senior EU official told the South China Morning Post. 

SCMP noted, “In other words: the ball is in Beijing’s court to come up with something that would have the same desired effect as the duties.” 

Beijing has claimed that the proposed duties are protectionist and has threatened trade retaliations. They’ve threatened to impose duties on EU imports of luxury vehicles, engines, pork, and spirits. Beijing is also challenging the proposed tariffs at the WTO. 

Tesla is the big winner, with the lowest tariff rate. 

END

GERMANY/UKRAINE

END

GERMANY

end

ENGLAND/FRANCE

END

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

Opinion piece/Jerusalem Post

Time to face the truth: Hamas is a unified terrorist entity – opinion

The recent events exposing the false divide between Hamas’s political and military wings highlight the need for global recognition of Hamas as a unified terrorist entity.

By YOSEF YAIR COLLINSAUGUST 20, 2024 01:23

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fopinion%2Farticle-815384&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

It is time for the world to recognize the entirety of Hamas as a terror organization.

In the wake of the daring assassination of Hamas terrorist leader Ismail Haniyeh and the ascension of Yahya Sinwar to the top job of political chief of Hamas, the false division between the political wing of Hamas and the military wing of Hamas has been exposed.

Haniyeh, who started his terrorist career as aide-de-camp of Hamas founder Ahmed Yassin, held the position of political chief since 2017 and was seen as a moderate in the eyes of many around the world. Haniyeh left the Gaza Strip around the same time to help strengthen ties with Hamas’s strategic allies, and since then he had mainly led a life of luxury in Qatar and had traveled between Hamas’s allies, mainly Qatar, Iran, and Turkey with forays to Lebanon, Russia, and China. 

Recently his escapades came to an abrupt halt following a mysterious explosion in a Revolutionary Guards guesthouse in Tehran that killed him and his bodyguard. Following his elimination, Hamas decided to give the top job to Sinwar, the head of the so-called military wing of Hamas, which is considered more radical.

In the past, many countries have made an artificial divide between the military wing of Hamas, which is seen as hardline radicals and is sanctioned and outlawed in most Western countries, and the political wing of Hamas, which is seen as a more moderate and dovish faction of the group with which agreements could be reached. 

This has led some countries to leave the political wing out of their sanction regime in the hopes of strengthening their hand against the radical military wing. The position of the Israeli government and a small number of foreign entities and analysts is that such a distinction is arbitrary and has no basis in reality, rather both wings form a synergetic relationship that fathers the overall goal of Hamas, which is the destruction of the State of Israel.

This is not by any means a unique position the West has taken against Hamas. Similar distinctions have been made with other malign actors such as Hezbollah, the Taliban, and different elements within the Iranian regime. Yet, in no other case, is the distinction so blatantly false as this one – as has been shown following Sinwar’s ascension to the job. 

Sinwar, the terrorist who masterminded the October 7 massacre that saw some 1,200 Israelis murdered and some 250 abducted, has now taken the position of the head of the political wing of Hamas while simultaneously holding the position of top military leader of the group. This shows without a shadow of a doubt that the political and military leadership are complementary parts of this machine of destruction.

Action must be taken

Based on this evidence, the State of Israel must take diplomatic action and demand that all parties, governmental or otherwise – including the UN – recognize the entirety of Hamas as a terrorist organization.

To paraphrase the words of Bill Roggio, editor of the Foundation for Defense of Democracies’s Long War Journal: “There is no good Taliban and bad Taliban, there is The Taliban.” 

---

---

The same must be said for Hamas: there is no moderate Hamas and no radical Hamas – there is only Hamas. It is not enough to theoretically declare Hamas as a terrorist organization. It must be fully treated as such. 

The writer is an IDF combat veteran and analyst of current affairs, commencing a degree in history and political science at the Hebrew University of Jerusalem. 

end

ISRAEL HAMAS/

Israel must hold onto the Philadelphi Corridor as that is where Hamas smuggle weapons into Gaza

(zerohedge)

Israel firm on holding onto Philadelphi Corridor after Netanyahu-Blinken meeting

The Prime Minister’s office said that the Blinken meeting with Netanyahu lasted for three hours, was “positive, and was held in a good atmosphere.”

By TOVAH LAZAROFFAUGUST 19, 2024 14:53Updated: AUGUST 19, 2024 17:22

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-815336&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

Israel stood firm on its insistent that the IDF must retain a military presence in the Philadelphi Corridor after Prime Minister Benjamin Netanyahu met with US Secretary Antony Blinken in Jerusalem to discuss how to advance the hostage negotiations.

“The Prime Minister stands firmly by the principle that the IDF will physically remain on the Philadelphi Corridor that borders with Egypt to prevent the resupply of Hamas’s deadly weapons, “ government spokesperson David Mercer told reporters in Jerusalem.

“The negotiations continue,” he stated. “We are working to create a framework agreement based on the principles presented by the US in May to get our people home,” Mercer stressed.

He spoke as Blinken made a brief visit to Israel Monday, as the US together with the main mediators for a hostage deal between Egypt and Qatar prepared to host a high-level round of talks in Cairo as early as Wednesday or later in the week.

Low-level Israeli professional teams are in Cairo and Doha this week to work on details regarding the deal.

Blinken underscored to President Isaac Herzog, Netanyahu, and Defense Minister Yoav Gallant in separate meetings how important it was to accept the deal.

He warned that this could be the last option to make a deal to bring the hostage home.

Meeting lasted for three hours

The Prime Minister’s office said that the Blinken meeting with Netanyahu lasted for three hours, was “positive, and was held in a good atmosphere.”

During that conversation, Netanyahu “reiterated Israel’s commitment to the current American proposal on the release of our hostages, which takes into account Israel’s security needs, which he strongly insists on,” his office said.

On the table is what the US has called a “bridging proposal” to close the gaps between Hamas and Israel with respect to a three-phase proposal US President Joe Biden unveiled on May 31.

---

---

But despite initial positive statements by the US and Israel regarding two days of talks held in Doha on Thursday and Friday, Hamas rejected the “bridging proposal.” 

Israel, in turn, stood on the same principled points it had outlined before the bridging proposal was announced in Doha, even as Blinken urged both Hamas and Israel to say yes to the deal.

Mercer said, “Israel also insisted on advancing a deal that will maximize the number of living hostages and to enable achieving all of our war objectives.”

“Israel is conducting these negotiations with a firm eye on the vital security interests of Israel, as opposed to those who advise that Israel just give in,” Mercer said.

Despite those firm positions he laid out, Mercer said that Netanyahu “made clear that Israel is fully prepared to be flexible for this noble mission, but be in no doubt.” He added that “these are very complex negotiations” and stressed Israel’s gratitude toward the Biden administration for all its efforts.

end

ISRAEL/HAMAS

Hopefully, Hamas’ suicide bombing threats will not happen. A good read…

(Jerusalem Post)

Why Hamas’s suicide bombing threats don’t lead to quaking knees – analysis

There is, however, something almost absurd about this approach. On October 7, Hamas burst into the country, committed Nazi-like atrocities, murdered, raped, pillaged, burned, and kidnapped.

By HERB KEINONAUGUST 19, 2024 20:32Updated: AUGUST 19, 2024 22:15

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-815395&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

Hamas and Palestinian Islamic Jihad issued a joint statement Monday claiming  responsibility for the bomb that blew up in the backpack of the terrorist carrying it Sunday night in Tel Aviv, and pledging suicide attacks “as long as Israel continues its massacre and policy of assassinations in Gaza.”

The purpose of the statement is clear: to instill panic and evoke haunting memories of the Second Intifada, a period when suicide attacks were a frequent and devastating reality for Israel for nearly five years.

Some in the media fell into this trap, reporting on the statement in breathless, panicky tones that conveyed a sense of impending doom, warning, “Beware, we are on the cusp of a Third Intifada.”

That, of course, is what the terrorists want: they want that panic, they want the country to quiver at the thought of a third intifada, they want the country to remember the suicide bombings of the early 2000s and fear that this is what awaits them again.

There is, however, something almost absurd about this approach. On October 7, Hamas burst into the country, committed Nazi-like atrocities, murdered, raped, pillaged, burned, and kidnapped. For the last three weeks, the country has been living under the cloud of threats from Iran and Hezbollah to spray the country with rockets and missiles and wreak a type of vengeance on Israel that the country has never experienced.

Country-wide panic?

And a statement of intent by Hamas and PIJ is supposed to send the country into panic?

For some, this psychological warfare will have an impact. This new threat, replacing the now seemingly passé Iranian and Hezbollah threats, will come to the forefront of the news cycle and become the latest bête noire.

But what is needed is some proportion.

Hamas, in its ridiculous statement, vowed to carry out suicide attacks “as long as Israel continues its massacre and policy of assassinations in Gaza.”

As if the suicide attacks did not predate Israel’s response to the October 7 atrocity by decades – they started in the mid-1990s as an attempt to torpedo the Oslo Accords.

---

---

Efforts to carry out suicide attacks will continue as long as there are Palestinian terror organizations, and these attacks are independent of anything Israel does or does not do.

The infrequency of these attacks “succeeding” is not due to a lack of desire to carry them out, but rather a lack of capability to do so. If they could, Hamas and Islamic Jihad would launch a suicide bombing attack against Israeli civilians twice a day.

But they can’t, and therefore Hamas and PIJ will not be able to frighten the country with the specter of a wave of suicide bombings. It won’t work. That such a wave does not wash upon our shores is because the IDF and the Israel Security Agency (Shin Bet) prevent those attacks, not because the terrorist organizations are not trying to carry them out.

Suicide bombings were a feature of the Second Intifada, a feature that the 2002 Operation Defensive Shield neutralized to a large degree.

Prior to Operation Defensive Shield, Israel – in accordance with the Oslo Accords – stayed out of the large Palestinian cities. As a result, a terrorist infrastructure took shape there that turned out one suicide bombing attack after the next. Labs were built to make the explosives, workshops popped up to put the bombs on suicide vests, and a terrorist network developed to recruit the suicide bombers, train them, and find people to ferry the murderers into Israel.

In April of 2002, the IDF moved back into the Palestinian cities in the West Bank to dismantle the labs and disrupt the terrorist network. It took a couple of years, but it worked, and the suicide bombings largely disappeared. It takes a great deal of planning and preparation to carry out this type of attack, planning and preparation disrupted when the IDF went back into the cities.

Further, it has taken nearly 20 years of vigilance – of IDF soldiers going back into the cities and towns week after week, sometimes night after night, to make sure that the terrorist infrastructure does not become reestablished.

The last two to three years saw a noticeable resurgence of terror activity inside the refugee camps in places like Jenin, Tulkarm, and Nablus, right under the IDF’s nose. Israel did not take strong enough measures to stamp them out, partly because of the same security doctrine that held sway in the country at the time and on October 7 – it did not want to ignite the area, it wanted to keep everything calm.

As the terrorism from the West Bank increased, however, this policy shifted a bit, and in July of last year – Operation Bayit VeGan – the IDF, for the first time in months, carried out a mission inside the Jenin refugee camp that signified a more aggressive policy.

Then October 7 hit, and even as the IDF has been fighting in Gaza and trading lethal blows with Hezbollah in Lebanon, it also understands that this is the time to dismantle the resurgent terrorist infrastructure in the West Bank.

According to various reports, since October 7 some 600 Palestinians have been killed in Judea and Samaria, most of them engaged in firefights with the IDF, or terrorists carrying out attacks, or rioters clashing with the IDF.

In addition, an estimated 4,500 militants have been arrested, including more than 1,800 affiliated with Hamas. While heavy fighting is taking place in Gaza and on the northern border, the IDF is daily operating inside Judea and Samaria to thwart attacks that are in the planning stage, and to disrupt attacks even before they are launched.

The main tool for doing this is not to wait on the roads for something to happen, but rather to act on a daily basis inside various Palestinian towns and villages – to keep terrorists preoccupied with having to deal with the IDF daily so that they are unable to have the time or the freedom of movement to plan larger attacks.

These daily actions are critical in preventing attacks like the one attempted by the suicide bomber in Tel Aviv on Sunday. Understanding this is important because the media reports about Sunday’s incident suggested that only by a miracle or luck was tragedy averted. Perhaps, but in past cases – and they have been numerous –  the IDF and the Shin Bet have prevented these suicide bombers from committing their atrocities.

All of that is worth remembering when Hamas and Islamic Jihad warn of a new wave of suicide bombings or a Third Intifada. These groups have long yearned for this, and their inability to make it happen is not due to a lack of intent, but rather because Israel’s security measures are largely prevent them from succeeding – something to keep in mind when hearing the terrorist organizations’ most recent threats.

end

IDF strikes Gaza City school from which Hamas terrorists operated, finds weapons in Rafah

The Hamas center was located in the school named “Mustafa Khaft” within Gaza City, a compound from which Hamas planned and carried out attacks against IDF troops.

By JERUSALEM POST STAFFAUGUST 20, 2024 13:07Updated: AUGUST 20, 2024 15:03

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-815495&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

Israel Air Force (IAF) jets struck terrorists operating in a Hamas control and command center which was embedded in a school in Gaza City in the Gaza Strip on Tuesday, the military said.

The operation was guided by intelligence from the IDF and Shin Bet (Israel Security Agency). 

The Hamas center was located in the school named “Mustafa Khaft” within Gaza City, a compound from which Hamas planned and carried out attacks against IDF troops.

Steps taken to avoid harming civilians

The military noted that prior to the strike, steps were taken to avoid harm to civilians, which included intelligence, the use of aerial surveillance, and precise munitions.

The Hamas-affiliated Safa News Agency reported that 10 people had been killed in the strike. 

In early August, the IAF targeted and killed some 19 Hamas and Islamic Jihad terrorists in a strike on a school complex near a mosque in the Dura’ Tafah area in Gaza.

The IDF regularly notes that Hamas exploits civilian infrastructure for military purposes. 

Later on Tuesday, the military said that in a joint operation with the Israel Air Force (IAF), it had killed some 40 terrorists in the Tel al-Sultan area of Rafah.

Among the terrorists eliminated was a terror cell that tried to harm the forces, in addition to two terrorists who came out from a tunnel and attempted to set an explosive device near the troops. 

In Khan Yunis, troops killed several terrorists and destroyed infrastructure, which included launch sites from which projectiles were fired at Israel. In addition, troops found weapons, among which were cartridges, grenades and military equipment. 

end

The truth behind Blinken and his truce deals. Another good read..

(JerusalemPost)

Blinken Praises Netanyahu’s Acceptance Of Gaza Truce Deal That Doesn’t Exist

Monday, Aug 19, 2024 – 04:40 PM

US Secretary of State Antony Blinken met with Prime Minister Benjamin Netanyahu on Monday in Tel Aviv in what both called “a very good and important meeting.” Blinken touted that Netanyahu has accepted latest US proposal on a Gaza ceasefire deal, and now he’s urging that Hamas “must do the same”. 

Netanyahu in the meeting aftermath said that he appreciates “the understanding the US showed toward our vital security interests, amid our joint efforts to bring about the releases of our hostages.”

“I want to emphasize,” Netanyahu said, “efforts to release the maximum number of living hostages — in the first stage of the deal.” Blinken in a presser proclaimed that he’s in the region “to bring across the finish line” a ceasefire deal. He earlier warned this may be a “last chance” to secure a deal.

But the reality is that this is Blinken’s ninth visit to Israel since the war began after the Hamas terror attack of Oct.7, and each and every trip has been filled with statements of the voicing a US “ironclad” commitment to Israel’s security and simultaneous declarations that a truce as at the ‘goal line’. 

And yet the same blame-game always quickly ensues following such empty declarations, over the question of who is to blame for ultimately blowing supposedly ever-so close to the goal line deal – though realistically it doesn’t seem there is a viable deal on the table at all. 

All of this makes it hard to gauge the degree to which Blinken’s visit is just another empty exercise in Biden admin PR. 

The geopolitical analysis blog Moon of Alabama points out the following:

Axios claims that Hamas rejects a ceasefire deal with Israel:

Hamas rejects new U.S. proposal for Gaza hostage and ceasefire deal

The opener:Hamas on Sunday rejected an updated U.S. proposal for a ceasefire and hostage deal in Gaza, blaming Israeli Prime Minister Benjamin Netanyahu for moving the goalposts and the U.S. for indulging him.

Seven paragraphs later we learn:Zoom in: More specifically, Hamas objects to the fact that the proposal doesn’t include a permanent ceasefire or comprehensive Israeli withdrawal from the Gaza Strip.

Moon of Alabama concludes, “There is no ceasefire deal,” and questions: “How then could Hamas reject a ceasefire deal?”

Instead, this is what it really seems all about: projecting optics back home to Democratic voters who can yet again try to paint this meaningless trip as a “win” for Biden/Harris ahead of November…

BREAKING: HUGE Win for Biden /Harris Administration :

US Secretary of State Antony Blinken says Netanyahu has just accepted the latest U.S. proposal on a Gaza ceasefire deal. pic.twitter.com/MPxtXjVj7N

— Brian Krassenstein (@krassenstein) August 19, 2024

And Blinken’s own words reflect something which appears merely in abstract, ephemeral form and not yet actually agreed to or a working option in any firm way…

“There is a deep sense of urgency for getting this done,” said  Blinken. He described that this is “the best way to make sure the conflict doesn’t spread, that we don’t see escalation, that we can actually defuse some of the pressure points that we see throughout the region, and then open prospects for trying to build more enduring peace and security for everyone throughout the Middle East.”

On the recent build-up of Pentagon assets in the region, Blinken claimed that Washington does “not to provoke aggression” but rather it’s all about deterrence, and “also to make clear that if it does, we are fully prepared to defend Israel.” 

Meanwhile, Blinken on the ground in Tel Aviv, Al Jazeera is reporting that IDF strikes across Gaza have expanded and are relentless…

UNRWA says “Israeli ‘strikes are now relentless’ and some Palestinians in Gaza have no choice but to live in the rubble of destroyed buildings amid expanding Israeli evacuation orders.”

Israeli forces expand ground assault on Gaza’s Khan Younis, Deir el-Balah

From aljazeera.com

1:35 PM · Aug 19, 2024

·

32.3K Views

UNRWA says "Israeli ‘strikes are now relentless’ and some Palestinians in Gaza have no choice but to live in the rubble of destroyed buildings amid expanding Israeli evacuation orders." https://t.co/4Wdefh0TeZ

— Kenneth Roth (@KenRoth) August 19, 2024

According to the latest AJ newswire headline: Senior Hamas Official says they agreed to proposal made by Biden and the US administration failed to convince Netanyahu of it, Al Jazeera reports.

end

ISRAEL HEZBOLLAH

Hezbollahs’s massive tunnel systems!

(JerusalemPost)

Ceasefire will not solve Hezbollah’s threat to Israel – analysis

Hezbollah reveals an advanced tunnel network, heightening tensions with Israel after a key commander’s assassination. The region braces for possible conflict.

By KEREN SETTON/THE MEDIA LINEAUGUST 19, 2024 15:29

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-815341&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

The Lebanese-based Hezbollah terrorist group released a video Friday showcasing what it claimed was a sophisticated underground facility that could be used to attack Israel. The publication came at a time of elevated tensions between Israel and Hezbollah, a few weeks after Israel assassinated Fuad Shukr, a senior commander of the group in Beirut. Hezbollah pledged revenge against the Jewish state, which has since been on high alert in anticipation of an attack.

For more stories from The Media Line go to themedialine.org

The video did not shock Israel, which has been aware of at least part of Hezbollah’s tunnel network for several years. The footage showed trucks driving through the illuminated tunnel, showcasing its size and sophistication. A rarity about the video was its translation into English, in addition to Hebrew, perhaps an attempt to threaten foreign military forces that have been mobilized to the region in preparation for a possible escalation between Israel, Hezbollah, and Iran.

“Hezbollah has constantly published such videos throughout the war,” Sarit Zehavi, founder and president of the Alma Research and Education Center, an institution specializing in terrorism studies, told The Media Line. “They have always been planning to use the tunnels. In the end, it’s a matter of making the decision to do so or not.”

“They are signaling to everyone in the region – these are our capabilities, and this is what we know how to do,” she added. 

As Israel waits for Hezbollah’s retaliation for Shukr’s death, there have also been calls for it to carry out a pre-emptive strike against Hezbollah. In addition, the assassination in Tehran of Ismail Haniyeh, the leader of the Gaza-based Hamas terrorist group, hours after Shukr’s killing, has also stepped up threats from Iran, raising apprehension in Israel. American and British forces have significantly increased their presence in the region, with aircraft carriers, submarines, and other forces mobilized to the area.

“Hezbollah aims to scare and deter Israel from invading Lebanon,” Yehoshua Kalisky, a senior researcher at the Institute for National Security Studies (INSS) in Tel Aviv, told The Media Line. “Members of the “axis of evil,” such as North Korea, Iran, and Hezbollah, are all experts in psychological warfare.”

Last week, Hezbollah also released a video featuring its Radwan forces, the group’s highly secretive and elite commando force. The footage showed masked soldiers preparing for an attack, with the Israeli border in the background. 

IDF airstrike

The Israel Defense Forces (IDF) announced Saturday it had carried out an airstrike in the area of Tyre, Lebanon, during which it killed Hussein Ibrahim Kasseb, a commander in Hezbollah’s Radwan Force. The targeted killing was just one in a series of such attacks targeting the force. 

Hezbollah and Israel have been exchanging fire for over ten months since the war between Israel and Hamas began. The day after the October 7th Hamas raid that sparked the war, Hezbollah began firing rockets and offensive drones at northern Israel. In response, the Israeli military has carried out hundreds of airstrikes against the group, which is classified as a terrorist organization by Israel, the US, and the Arab League, among other nations.

According to a recent report by the Alma Center, Hezbollah has been aided both by North Korea and Iran in its advance toward a massive underground tunnel network that spans deep into Lebanese territory. The tunnels are not only used as cross-border offensive tunnels in order to strike at Israel. In addition, there is a wide network of tunnels within Lebanon that connect its headquarters in Beirut to logistical centers in other areas and its defensive positions in southern Lebanon on the border with Israel. The tunnels allow for the mobilization of Hezbollah forces and weapons far from the eyes of Israeli intelligence, evading detection critical for the terrorist group’s operation. 

---

---

“These are strategic tunnels that enable of transferring their troops, launchers, and missiles within Lebanon,” said Zehavi, who pointed to a 2008 report presented to the US Congress on the relationship between Hezbollah and North Korea and the Northern Korean contribution to the Hezbollah tunnel project.

The IDF refused to comment on the report or any issue regarding Hezbollah’s tunnel network.

In late 2018, the Israeli military uncovered what it said were four cross-border tunnels dug by Hezbollah to be used for a raid on border communities. Residents had reported drilling noises throughout the years before the tunnels were revealed. This finding was just the tip of the iceberg. 

“The IDF did not attempt to locate every tunnel because it did not operate within Lebanon and looked only for cross-border tunnels,” said Zehavi. 

Throughout Israel’s war on Hamas in Gaza, the IDF has said it has uncovered hundreds of tunnel shafts and destroyed many cross-border tunnels. Some of those tunnels were meant to be used as offensive attack tunnels crossing into Israel, others crossing Gaza’s border with Egypt, which enabled the terrorist group to smuggle weapons and fortify itself. 

“Anyone who has seen the tunnels in Gaza is now aware of what awaits in Lebanon,” said Kalisky. 

Defense experts believe Hamas’ capabilities pale next to those of Hezbollah, including its tunnels. 

“While Israel has developed technologies to expose the tunnels, there is no capability that brings complete success,” he added, adding Hezbollah’s tunnel network serves a wide range of purposes, from command and control rooms to tactical and strategic tunnels that store some of the groups most sophisticated missiles. The network is at the core of its war plans against Israel. 

The IDF conducts daily airstrikes against Hezbollah targets in Lebanon without specifying what those targets are, making the tunnel infrastructure a potential target. 

“There is no need to supply the enemy with such information,” Kalisky said. 

However, one of the greatest challenges facing the Israeli government is how to restore confidence in the tens of thousands of residents of towns and villages on the border with Lebanon who were evacuated at the beginning of the war. The scenes of Hamas terrorists easily crossing the border from Gaza into Israel were the nightmare residents of northern Israel had for years. It was a preview of the scenario they feared most. 

According to Zehavi, this is where the military could have been more forthcoming in its efforts to instill confidence among residents.

“The army has carried out thousands of strikes at an impressive rate,” she said. “But most of these attacks are close to the border, which likely means they have not targeted the tunnels deep in Lebanon. If the IDF publishes what it attacked, it could help residents feel safer.”

United Nations (UN) Resolution 1701, which ended the last war between Israel and Hezbollah in 2006, was supposed to distance the terrorist group from the border but did not. UN peacekeeping forces have not stopped Hezbollah from consistently improving its capabilities, transforming into Israel’s most formidable enemy. 

“It is clear after the 7th of October that Israel cannot come to terms with such abilities on its border,” said Zehavi. “This is not acceptable. A ceasefire is not a solution for the residents of the north. There needs to be some sort of mechanism that would disarm Hezbollah. Previous UN resolutions have proven they cannot achieve this.”

To achieve this, after countless mediation attempts by the US, France, and other countries, Israel may choose to strike against Hezbollah. Israelis have little faith in the mediation efforts or in the reliability of Hezbollah to uphold any such agreement. Nasrallah, who vowed to stand for Hamas as long as it fights against Israel, has also said he would hold his fire if a ceasefire in Gaza is reached.

“Such a pre-emptive attack by could lead to a broader war that Israel could withstand with its highly sophisticated air defense systems,” said Kalisky. “But Hezbollah is an enemy with patience, and it would use a ceasefire to upgrade its abilities. Israel now must decide whether it wants to solve the problem militarily or diplomatically.” 

“Bringing a ceasefire is dealing with micro-tactics,” said Zehavi. “Disarming Hezbollah and Hamas is something Israel cannot compromise on.”

With Hezbollah’s major assets believed to be underground and likely under civilian areas, the challenge Israel faces in thwarting the tunnel threat is immense. While it has been using the Gaza tunnel network as a learning ground, it is feasible that Hezbollah is also looking closely at the technologies the IDF has developed in Gaza to learn lessons for its future confrontation with Israel. 

As diplomatic efforts are still underway to achieve a ceasefire in Gaza, Hezbollah and Israel, appear to be on the brink of escalation, with significant decisions to be made. On Sunday, the two sides continued to exchange fire along the border.

“Israel needs to decide if it wants to sleep next to a tiger on its border or not,” said Kalisky.

end

ISRAEL/HEZBOLLAH

Israeli strike targets Hezbollah arms depot in Lebanon, causing massive secondary explosions

Additionally, the IAF struck terrorist Hussein Ali Hussein in the area of Deir Qanoun in southern Lebanon.

By REUTERS, JERUSALEM POST STAFFAUGUST 19, 2024 20:40Updated: AUGUST 19, 2024 22:29

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-815396&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240819_64f75c15024b88d5dd8e634412042455116db9d9&useBunnyCDN=0&themeId=140&unitType=tts-player

Israel Air Force fighter jets struck several Hezbollah weapons storage facilities in Lebanon’s eastern Bekaa Valley, the IDF reported Monday evening. 

Secondary explosions were seen, indicating the presence of large quantities of weaponry in the facilities. 

תיעוד לבנוני: מחסני טילים של חיזבאללה הותקפו מהאוויר בעומק לבנון@ItayBlumental @OmerShahar123 pic.twitter.com/T3sDhPR01g

— כאן חדשות (@kann_news) August 19, 2024

Residents of cities and towns in northern Israel have been instructed to stay close to shelters following the blast, Israeli media reported. 

Additionally, the IAF struck terrorist Hussein Ali Hussein in the area of Deir Qanoun in southern Lebanon. Hussein operated in Hezbollah’s rocket and missile unit in the area of Yarine. 

Hezbollah and other armed groups in Lebanon have been trading fire with Israel in parallel with the Gaza war.

Israeli strikes for the last 10 months have regularly targeted Hezbollah fighters and rocket launch sites, but strikes on arms depots have been more rare.

IDF strikes a terrorist cell 

Earlier on Monday, IDF forces identified a terrorist cell operating from a Hezbollah military structure in Taybe in southern Lebanon, and IAF fighter jets struck the structure in which the terrorists were operating.

end

ISRAEL/HAMAS/

end

RUSSIA/UKRAINE

Robert H:

Patrick Lancaster

Patrick is a brave truth Expresser who has been working hard to bring out the truth of the Russian side of this conflict.

It matters not whether one agrees with this side of the story line or not. There are always 2 sides of every story for reasons particular to that side. And then there is the naked truth which at times is not in favor of either side of the story.

In the end, what matters is what one thinks and believes having had an opportunity to listen and to critically determine both the truth and what you want to believe in. It is why we all have free will and ability to think.

In coming days and perhaps months, a side will have to be chosen as consequences will arise as this foolish attempt to hold power is waged by conflict. The naked truth that neither side really gets into is why. As being on one side or the other is a choice. The real question is why one has to choose a side. The fact that every current leader is being tossed is an indication of a desire for change to avoid the obvious seen by a growing majority of people.

And to know that one must look at the factual evidence of the true state of economic reality of the various countries. So indebted as to be burdened on inescapable consequences while the Political class clings to power knowing that its days are numbered. The saying goes “ when all else fails they take us to war”.

In the end the result is always the same. Current regimes are replaced by new ones as the consequence of war which brings loss and uncontrolled destruction causing revolutionary change. It is why history repeats because we fail to learn from it.

The question for all of us today is whether enlightenment can come from history and clarity of vision of daily realities to navigate events yet to be seen.

end

RUSSIA/USA/GERMANY

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

Aldén et al. & other research groups showed intracellular reverse transcription of Pfizer’s COVID-19 mRNA vaccine in human liver cells; mRNA was reversed transcribed back to DNA; why did MALONE, SAHIN

BOURLA, BANCEL, WEISSMAN et al., those who brought the mRNA technology invention & gene vaccine, not warn us about this? Why was MALONE silent or BOURLA? Did they not study this? If not, why?

Dr. Paul AlexanderAug 20

READ IN APP

If you MALONE and BANCEL of Moderna and BOURLA of Pfizer and Katalin Karikó (mRNA technology pioneer with Malone) and Ozlem Tureci and Drew Weissman et al. were the top scientists who ‘invented’ mRNA technology that is the core feature of the mRNA vaccine (transported within LNPs etc.) to make proteins e.g., the dangerous spike protein that we know is a deadly endothelial pathogen, and you know that from basic biology (GRADE 7) that mRNA (as the molecular messenger so to speak) flows from nuclear DNA and you did bring ‘synthetic’ mRNA to take the place of ‘human’ cellular mRNA (as part of the mRNA-LNP vaccine platform), then how could you NOT know that synthetic mRNA (that you developed) could potentially interact with DNA? How could you not test it and ensure safety to humans? The implications to humanity are extensive as we could have in effect over-written our genetic codes and human DNA could be changed forever.

We today have billions of people who ‘fell for it’ walking around with your mRNA vaccine yet have no idea the long-term implication of synthetic mRNA re-integrating with human DNA; they could be catastrophically harmed long-term, humanity could be impacted negatively long-term; yet you got NOBEL prizes, you pimped donor money and got rich, you got fame over bringing death. And you criminals and IMO animals want to run around and sue people for raising questions about your dangerous research yet you bastards, you filthy bastards sat silent knowing of this (and other potential catastrophes e.g. vaccine content, spike protein, mRNA etc. not dissolving rapidly as prior told, not staying at the injection site as prior told, the damage to mitochondria, IgG4 antibody class-switch etc.) and even worse, you failed to study it nor provided any research, clinical medical, scientific data to ‘exclude’ this harm e.g. reverse transcription. We had to be subjected to your death shot until scientists like Aldénet al. informed us of the breach. You are criminals IMO. What is worse you have sat back and pocketed money and fame and donor money and still begging for it, like the little rats you are, and have not gone back to the lab to devise means to dissolve and mitigate the deadly spike protein and its deleterious effects that is the result of your deadly vaccine

end

SLAY NEWS

The latest reports from Slay News

Top Study Confirms Pfizer Pushed ‘Bad Batches’ of Covid Shots onto PublicA major study by leading Scandinavian researchers has confirmed that Pfizer distributed dangerous “bad batches” of the pharmaceutical giant’s Covid mRNA shots for public use.READ MORE

Ex-NIH Chief Confronted over Deadly Covid Shots: ‘Blood on Your Hands’Dr. Francis Collins, the former head of the National Institute of Health (NIH), has been confronted in a restaurant over his role in pushing dangerous Covid shots onto the public.READ MORE

Most Voters Say Harris Knew of Biden’s Decline Long before He Dropped Out of RaceA new poll has revealed that the vast majority of American voters say they believe Kamala Harris knew of President Joe Biden’s mental decline long before he was forced to drop his re-election bid.READ MORE

Kamala Harris: Football Players Can ‘Be Undefeated’ Even If They ‘Don’t Win Every Game’A group of young Pennsylvania football players was left scratching their heads after receiving a pep talk from Democrat presidential nominee Kamala Harris.READ MORE

Jack Smith Enters Classified Pretrial Evidence for Discovery in Jan 6 CaseSpecial Counsel Jack Smith appears to be quietly making moves in his Jan. 6 case against President Donald Trump.READ MORE

Ex-Congressman George Santos to Plead Guilty to Multiple Federal ChargesFormer Republican Rep. George Santos (R-NY) is expected to plead guilty to multiple fraud charges, according to reports.READ MORE

House Report: Biden ‘Defrauded United States to Enrich His Family,’ Committed ‘Impeachable Conduct’A damning new report from three top House committees has concluded that Democrat President Joe Biden has committed “impeachable conduct.”READ MORE

FBI Denies Giving Trump Shooter’s Body Back to Family on July 23It’s been over a month since the attempted assassination of President Donald Trump by shooter Thomas Matthew Crooks at a Pennsylvania rally. READ MORE

Radical Washington D.C Democrat Arrested by FBIRadical Washington D.C. Democrat Trayon White Sr. has been arrested by the FBI, according to reports.READ MORE

VIEW MORE

EVOL NEWS

NEWS ADDICTS

German Media Admits Covid Shots Killed MillionsA top German corporate media outlet has gone rogue and blown the whistle on the mass vaccination agenda, admitting to the public that Covid mRNA shots have killed millions of innocent citizens.READ THE FULL REPORT

Pop Star John Legend Claims His Eight-Year-Old Daughter ‘Can’t Imagine Why Anyone Would Vote for Trump’Pop star John Legend, set to perform at the Democratic National Convention in Chicago this week, says his eight-year-old daughter “can’t imagine why anyone would vote for Donald Trump.”READ THE FULL REPORT

Kamala Harris Plans to Hike the Corporate Tax Rate to 28 PercentVice President Kamala Harris is targeting businesses with a plan to raise taxes.READ THE FULL REPORT

Washington Democrat Councilman Arrested on Federal Bribery ChargesWashington, D.C., Councilman Trayon White Sr. has been charged with bribery, according to court documents released on August 19.READ THE FULL REPORT

Gov. Tim Walz Commuted Sentence of Man Who Murdered 11-Year-Old Girl While She Was Doing HomeworkA former federal prosecutor criticized Minnesota Gov. Tim Walz (D), asserting that Walz ‘has to answer’ for commuting the sentence of a man convicted of murdering an 11-year-old girl.READ THE FULL REPORT

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

7.OIL PRICES/GAS PRICES/OIL ISSUES

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

BRAZIL

END

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS TUESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.1080 DOWN 0.0005

USA/ YEN 146.45 DOWN 0.286 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 1.2998 UP 0.0009

USA/CAN DOLLAR:  1.3614 DOWN .0017 (CDN DOLLAR UP 17 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 27.06 PTS OR 0.93%

 Hang Seng CLOSED DOWN 58.49 PTS OR 0.33%

AUSTRALIA CLOSED UP 0.16%

 // EUROPEAN BOURSE:     MOSTLY ALL RED EXCEPT FRANCE

Trading from Europe and ASIA

I) EUROPEAN BOURSES: MOSTLY ALL RED EXCEPT FRANCE

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 58.49 PTS OR 0.33 %

/SHANGHAI CLOSED DOWN 27.06 PTS OR 0.93%

AUSTRALIA BOURSE CLOSED UP 0.16%

(Nikkei (Japan) CLOSED DOWN 674.05 PTS OR 1.77%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2525.75

silver:$29.80

USA dollar index early TUESDAY  morning: 101.69 DOWN 4 BASIS POINTS FROM MONDAY’s CLOSE.

TUESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.830%  DOWN 3 in basis point(s) yield

JAPANESE BOND YIELD: +0.893% UP 0 AND 4/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.050 DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.603 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2260 DOWN 3 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY  

Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.1101 UP .0016 OR 16 basis points

USA/Japan: 146.01 DOWN 0,626 OR YEN IS UP 63 BASIS PTS

Great Britain 10 YR RATE 3.9675 DOWN 2 BASIS POINTS //

Canadian dollar UP .0002 OR 2 BASIS pts  to 1.3630

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP AT 7.1260 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.1327)

TURKISH LIRA:  33.89 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.893

Your closing 10 yr US bond yield DOWN 3 in basis points from MONDAY at  3.846% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.097 DOWN 4 in basis points  /12.00 PM

USA 2 YR BOND YIELD: 4.0231 DOWN 4 BASIS PTS.

GOLD AT 11;00 AM 2529.00

SILVER AT 11;00: 29.81

Your  11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates:  TUESDAY CLOSING TIME 11:00 AM//

London: CLOSED DOWN 83.62 PTS OR 1.00%

German Dax :  CLOSED DOWN 64.17 PTS OR 0.35%

Paris CAC CLOSED DOWN 16.28 PTS OR 0.22%

Spain IBEX CLOSED DOWN 1470 OR 0.13%

Italian MIB: CLOSED DOWN 190.70 OR 0.57

WTI Oil price  74.68 12EST/

Brent Oil:  78.27 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91.06 ROUBLE DOWN 1 AND  27/100      

GERMAN 10 YR BOND YIELD; +2.2260 DOWN 3 BASIS PTS.

UK 10 YR YIELD: 3.9675 DOWN 2 BASIS POINTS

CDN 10 YEAR RATE: 3.053 DOWN 5 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1125 UP 0.0040   OR 40 BASIS POINTS

British Pound: 1.3032 UP 0.0043 OR 43 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.9180 DOWN 4 BASIS PTS//

JAPAN 10 YR YIELD: 0.894

USA dollar vs Japanese Yen: 145.38 DOWN 1.328 YEN UP 133 BASIS PTS//END OF YEN CARRY TRADE ROUND II

USA dollar vs Canadian dollar: 1.3620 DOWN 0.0011//CDN dollar UP 11 BASIS PTS

West Texas intermediate oil: 73.82

Brent OIL:  77,24

USA 10 yr bond yield DOWN 5 BASIS pts to 3.824

USA 30 yr bond yield DOWN 5 BASIS PTS to 4.065%

USA 2 YR BOND: DOWN 5 PTS AT  4.0003

CDN 10 YR RATE 3.034 DOWN 7 BASIS PTS

USA dollar index: 101.27 DOWN 46 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 33.87 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  91.15 DOWN 0  AND  33/100 roubles

GOLD  2,515.50. 3:30 PM

SILVER: 29.45 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 61.57 PTS OR 0.15%

NASDAQ DOWN 46.67 PTS OR 0.74 %

VOLATILITY INDEX: 15.67 UP 1.02 PTS OR 6.96%

GLD: $232.48 UP .87 OR 0.38%

SLV/ $26.87 UP 0.04 OR 0.15%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Gold Hits New Record High As Kamu-nism/Growth-Scare Spoils Stocks’ Party

Tuesday, Aug 20, 2024 – 04:00 PM

The S&P 500 has not had a nine-day win-streak since 2004 and it appears Kamu-nism was enough to stop stocks doing it again today as Harris unveiled her cunning plan, including 28% corporate tax, price-controls, 44.6% capital-gains tax, and last but not least, a tax on unrealized gains.

Small Caps were the ugliest horse in the glue factory today as the algos tried their hardest to maintain the win-streak.

The NYSE Composite Index did make a new record high at this morning’s open, but then faded back…

Source: Bloomberg

The Mag7 basket managed another day of (marginal) gains (but we do note that it stalled intraday at a key resistance level)…

Source: Bloomberg

But ‘most shorted’ stocks were puked out of the gate…

Source: Bloomberg

And this occurred as growth-surprise data slumped back to multi-year lows (not helped by the crash in Philly Fed’s survey today)…

Source: Bloomberg

…which lifted rate-cut expectations modestly…

Source: Bloomberg

Are we back in Goldilocks-land – just enough growth-scare to enable the Fed doves support for stocks but not enough growth-scare to terrify investors’ guesses at future earnings.

The dollar doesn’t care – it’s riding the dovish path lower no matter what…

Source: Bloomberg

And despite the best efforts of Benoit and his BIS buddies to tamp down enthusiasm for alternatives, gold surged to a new record high today…

Source: Bloomberg

But, we do note that Treasury yields did plunge today (6-7bps across the curve) – a little more growth-scare than equity bulls might have liked to see…

Source: Bloomberg

As the chart above shows, the long-end (10Y and 30Y) has erased all of the CPI-spike from last week.

Most notably, the 2Y yield tumbled back below 4.00% (after CPI sent yields back up to pre-payrolls levels)…

Source: Bloomberg

Oil prices limped lower once again (5th day of the last 6) as growth-scares weighed on commods…

Source: Bloomberg

Bitcoin ripped up above $61,000 overnight during the Asia session, then was punched lower during the US session…

Source: Bloomberg

Bear in mind, that pattern of trading should come as no surprise at all…

Finally, while markets have recovered, Deutsche Bank warned this morning in a note to clients that catalysts behind the retreat haven’t necessarily evaporated. The firm outlined five key risks that remain that investors should watch:

• First, equity valuations are still at historic highs, with the market trading in moderately overweight territory, the bank said. This made some on Wall Street uneasy even before August’s sell-off and continues to be a point of anxiety as investments pile in.
• Second, economic data remains vulnerable. Part of the reason equities dropped dramatically in August was a softer-than-expected nonfarm payrolls print, which disappointed estimates of 194,000. This was an unwelcome sign of weakness, but not a recessionary reading, DB said. That leaves room for even more disappointing data, which could bring larger consequences to investors if it were to happen.
• Third, monetary policy is getting increasingly tight on real terms, with DB noting that the real Fed funds rate recently hit its highest since 2007.
• Fourth, September has been a seasonally bad month for stocks over the past few years. The S&P 500 has fallen during the period for four straight years, and in seven of the past 10. DB says it’s also been a bad month for fixed income, with the Bloomberg global bond aggregate falling during the past seven Septembers.
• Fifth, geopolitical tensions are still high. DB notes that Middle East conflicts contributed to an equity sell-off in April, while oil prices also hit their highs for the year around the same time. More recently, in August, oil saw their biggest single-day spike of the year on reports of further escalation, the firm said.

And under the hood, options markets are still pricing in the potential for short-term chaos amid a heavy calendar of risk catalysts including Powell’s address at Jackson Hole, NVDA earnings, NFP, CPI, and OpEx…

Source: Bloomberg

As VIX rose notably on the day and VVIX rejected the Maginot Line at 100…

Source: Bloomberg

Was today’s dip a sign that the momo-chase is over… for now?

AFTERNOON TRADING///

II USA DATA

III  USA ECONOMIC COMMENTARIES

A must read

(Brandon Smith)

real reason why the Fed has waited so long to cut rates

Carry Trade Trap: The Real Reason Why The Fed Has Waited So Long To Cut Rates

Monday, Aug 19, 2024 – 05:00 PM

Authored by Brandon Smith, via Alt-Market.us,

In 2022 there was considerable debate among alternative economists what the Federal Reserve was likely to do in the face of rising stagflation. There were people who argued that the Fed would capitulate to stock market demands, stop raising interest rates and return to QE. These analysts operated on the assumption that the central bank WANTS to save the US economy from substantial deflationary crisis and that they will happily print money forever in order to delay such an event.

Some of us, however, understand that the Fed is not loyal to the US economy, nor is it necessarily interested in self preservation as an institution. In 2022 in my article ‘It’s A Fact That Needs Repeating: The Federal Reserve Is A Suicide Bomber’ I predicted:

“This leads us to the final question – What happens next? That’s easy to answer: The fed continues to hike rates well into next year and will not reverse course or capitulate and return to stimulus. The dovish predictions were wrong. The people that said the Fed would not raise rates were wrong. The people that said the Fed would never remove support from stock markets were wrong. This process is ongoing and the effects will grow as the months pass, but those that were hoping for a manic return to the days of bailouts and QE are going to be deeply disappointed.”

This prediction proved correct. I noted at the time that the Fed is not following its own program, it’s following a global program coordinated by the IMF and BIS. In order to understand why the Fed does the things it does, one must accept that they don’t care about the current world order. They care about facilitating a new world order.

Of course, part of that agenda requires that the central bankers never receive blame for their role in any economic crisis.  They have no problem blowing up the system as long as there’s a convenient scapegoat.  They’ve done it before and they’ll do it again.

I usually don’t put much energy into tracking stocks because I see them as a side show. Equities are primarily built on delusions, false hopes and unchecked fiat and the bubble will pop when those delusions are inevitably dashed by reality. Stock markets are not a leading indicator; they are a trailing indicator and they crash long after numerous other alarms have been triggered. That said, every once in a while the smoke and mirrors lift and you can get a glimpse of what is really happening behind the scenes.

The central bank has removed the primary backstop supporting US and European markets – The low interest rates that were feeding cheap money into corporate buybacks. Despite endless spin and false data from the Biden Administration the deflationary side of the crisis is starting to rear its ugly head.

A weaker-than-expected jobs report last week has fueled concerns about a potential economic recession and calls for an interest rate cut. Employers hired 114,000 workers last month, falling well short of economist expectations of 185,000 jobs, U.S. Bureau of Labor Statistics data showed. The unemployment rate climbed to 4.3%, the highest level since October 2021.  It’s only going to get worse from now on and I wouldn’t be surprised to see an unemployment avalanche in 2025.

Keep in mind that BLS jobs data has been rigged by the Biden White House for years; the majority of jobs “created” during Biden’s term are low wage part-time jobs and most have been going to illegal immigrants, not to American citizens. The same illegal immigrants that Biden has allowed into the country through open border and amnesty policies.

This trend is only going accelerate by winter. Why? Because the effects of the high interest rates are taking hold. It happens slow at first, then all at once. But how have stocks remained so high during this time period? A recent market shock may help us to understand…

As noted, the August stock slump has been partly driven by weaker-than-expected U.S. economic data at the end of last week. The readings led investors to worry that the Federal Reserve may be behind the curve in cutting interest rates to fend off a recession. But why does the Fed continue to keep rates high if this is the case?

There are two reasons.

First, as I have mentioned over and over since 2018, the end of QE and the raising of interest rates is a Catch-22; a trap.  Not for the Fed, but for the US economy.  Our financial system has become so addicted to cheap money from the central bank that it can barely function without it. We are seeing the addict begin to crash. Covid stimulus held up the system for another few years, but now that hit of sweet helicopter money is fading and the high is over.

At the same time we’re being crushed with a stagflationary hydraulic press. Prices continue to climb on most necessities and the cumulative inflation is around 30% (officially) on average since 2021. Compare grocery receipts from 2020 to today, though, and you’ll find a 30% to 100% increase in prices on most necessary goods and services.

The establishment (and the DNC) has been operating on the narrative that inflation has been defeated. The Fed knows that this is a lie. The moment they cut rates inflation will spike again and the illusion will be exposed. There’s FAR too many dollars floating around chasing too few goods.  For those that believe a rate cut is in the works to support the Kamala Harris campaign, I would suggest such a move might actually hurt her chances (whatever those chances may be) because her entire economic platform requires doubling down on the “success” of Bidenomics.  If CPI spikes again in October then her campaign is sunk.

Of course, over 54% of mainstream economists and investors polled now expect a rate cut next month and some Fed officials have mentioned the possibility.  I remain doubtful, but it will certainly make the election cycle even more interesting if they do.

The second issue is what appears to be a “carry trade trap.”

Carry trades refer to operations in which investors borrow in a currency with low interest rates, such as the Japanese yen, and reinvest the proceeds in higher-yielding assets elsewhere (the US). The strategy is a considerable driver of US stock markets and has kept stocks alive despite the Fed’s removal of QE.

This month’s stock plunge was triggered by fears that the Bank of Japan might hike interest rates, coupled with expectations that the Fed will cut rates in the near term due to the recession threat. This would kill the carry trade that has kept stocks going. To prevent a destructive carry trade unwind the Fed would have to coordinate with the BOJ and introduce a new stimulus program to soften the blow. But as I mentioned above, if the Fed returns to QE inflation will skyrocket yet again.

The public will demand an explanation as to how it’s possible for there to be deflation in markets and jobs and inflation in prices all at the same time?  The Fed won’t have answers for them.  It’s a Catch-22 on top of a Catch-22.

I believe there is no way out of this situation and that central banks deliberately maneuvered the US into this predicament. The only thing left for them to do is pull the plug when the timing is most advantageous. After the elections makes the most sense, especially if conservatives come out on top and there is a red sweep in 2025.

Then, the whole mess can be wrapped up and thrown in their laps.

One thing the events of this month prove is that the system is so unstable that even a hint of a change in the status quo could mean disaster. Don’t assume that banks will keep trying to kick the can down the road; they’re operating on a timeline that serves the interests of the global establishment, not the American public.

*  *  *

Our economy is on a decades-long path to total collapse. And no election can completely stop what is coming! Which is why protecting your 401(k) or IRA is more critical than ever. With a physical gold IRA, you get an easy and tax-deferred way to safeguard your wealth with tangible assets. To learn more, click here to get your FREE info kit on Gold IRAs from Birch Gold Group.

end

This is what we will get if Kamala is elected

(Dr Lacalle)

American Peronism – Kamala Harris’ Radical Left Plan To Ruin America

Tuesday, Aug 20, 2024 – 07:20 AM

Authored by Daniel Lacalle,

Price controls, higher taxes, government intervention, and subsidies paid for by printing a constantly devalued currency.

These are the essential pillars of “21st century socialism” and the radical left Peronism that obliterated Argentina. These are also the main elements of the economic plan presented by Kamala Harris and the Democratic Party. Undoubtedly, this is the most radical socialist economic plan ever announced by the Democrats.

According to the Committee for a Responsible Federal Budget (CRFB), Harris’s proposals will cost $1.95 trillion over 10 years. However, it emphasizes that if certain measures become permanent, this figure could increase to $2.25 trillion.

The Harris campaign has stated that these costs will be offset by a classic excuse of socialism in any election: “higher taxes on corporations and high earners.” This is, obviously, ludicrous, because there is no revenue measure that will cover the already bloated $2 trillion annual deficit and an added $2 trillion. The mantra of “higher taxes for the rich” always means higher taxes and more inflation, a hidden tax, for you.

The Congressional Budget Office (CBO) has already warned of the fiscal disaster of the United States, with an annual deficit of 6% of GDP. Despite not accounting for a recession and projecting record tax revenues from 2024 to 2034, the CBO predicts an explosion in the budget deficit from $1.9 trillion to $2.8 trillion by 2034, even before factoring in Harris’s new spending plan. This means that the adjusted deficit will rise above 6.9 percent of GDP by 2034, almost twice the average of 3.7 percent over the previous 50 years.

Following the Harris plan, the United States public debt will likely increase by $24 trillion in a decade. As I have explained, there is no set of revenue measures that can bring $2 trillion per year in additional tax receipts, and tax hikes will harm both investment and growth.

An economy that generates an annual deficit of 6 percent of GDP to achieve a mere 2 percent annual growth is already on a dangerous path, and Harris’ plan would make it even worse.

Kamala Harris promises to cut inflation by spending and printing more money, reducing competition, and attacking businesses. It has never worked and never will because it is upside-down economics. Welcome to the U.S. “Peronism.”.

Imagine all those United States citizens who have escaped Latin American or European economies impoverished by interventionism to find a better opportunity in the United States only to find that the same policies will be implemented by Harris.

The narrative of price gouging and greedflation is simply false. In 2023, profit margins in the grocery industry hit the lowest level since 2019, at 1.6%, according to the IMF. Corporations, even if they were stupid and reckless, cannot make all prices rise constantly. Competition would eat away at their market share; newcomers would eliminate them, and aggregate prices would fall. Furthermore, stores and businesses cannot make aggregate prices soar, maintain the increase, and consolidate it, which is the measure of inflation (CPI) we read every month. The only thing that can make all prices rise and continue increasing at a slower pace is printing money and eroding the purchasing power of the currency.

The only thing that can make aggregate prices rise constantly is the destruction of the purchasing power of the currency, which comes from massive government spending and printing currency to disguise fiscal imbalances.

Kamala Harris and her team know that their spending plan will make the national debt soar and that price controls do not reduce prices. In fact, these should not be called “price controls” but “limits to competition.” If corporations were the cause of inflation and price controls were the solution, Peronist Argentina would have enjoyed the lowest inflation in the world in the past decades.

Harris’ proposals to forgive debt are profoundly anti-social. They do not forgive any debt; they just add it to the national debt and make you pay for it. This enormous increase in public debt will be a burden for every American, particularly the poorest, with persistent inflation and lower real wages. US citizens have already endured negative real wage growth since January 2021, when Biden took office, according to the Federal reserve of St Louis. Expect worse.

Why does Harris promote the same policies that have failed everywhere? Promising free stuff and blaming others for the negative consequences is the defining strategy of socialist politicians.

Are you surprised to see how Germany, France, and other historically rich nations slump into stagnation, high debt, persistent inflation, enormous taxes, and the destruction of the middle class? Those policies are what Harris is promising. Who benefits? The vast government and its surrounding corporations reap the benefits.

Many people hold the belief that a nation cannot be considered socialist if it contains private companies. It makes no sense. State control does not limit itself to capital ownership but also to the imposition of increasingly restrictive laws, regulations, and confiscatory taxes. In fact, the government likes to absorb most of the wealth created by the private sector without the inconvenience of managing the businesses. Huerta de Soto defines socialism as “any system of institutional, methodical aggression against the free exercise of entrepreneurship” and that is precisely what Harris promises.

Higher taxes and more debt.

The government will print money to provide subsidies in a currency that is constantly losing value. It will blame stores and businesses for inflation. Interventionist policies will continue to erode the private sector. And they will repeat.

The makers of these policies are aware that they will negatively impact the economy, yet they will also engender a substantial number of enslaved citizens who rely on the government and must abide by its decisions. Voters see an alleged tsunami of free money but ignore the fact that they will pay for it through higher inflation, lower real wages, and diminishing opportunities for small businesses and families.

The Harris team believes deficits do not matter and that the Federal Reserve can always disguise any budget imbalance. However, cracks have already appeared. Persistent inflation is the consequence of years of excessive spending and monetization. The next step is the risk of losing the U.S. dollar as the world reserve currency when the world stops accepting the ever-increasing debt.

end

Chain BurgerFi might go bust!

(zerohedge)

BurgerFi Might Go Bankrupt

Tuesday, Aug 20, 2024 – 06:55 AM

BurgerFi’s financial situation is only getting worse.

It expects to report net losses of $18.4 million for the quarter ending July 1 compared to a $6 million loss during the same period in 2023. The increase was driven primarily due to lower operating income, higher general and administrative expenses and larger restructuring costs.

The company had $4.4 million in cash and cash equivalents as of Aug. 14.

As Julie Littman reports for RestaurantDive, the chain also expects to report restaurant sales declines of $1.8 million, or 4% year-over-year, last quarter.

This was driven largely by same-store sales declines at BurgerFi and sister brand Anthony’s Coal Fired Pizza and Wings.

The company said it closed underperforming BurgerFi- corporate locations, but the filing didn’t say how many locations were shuttered.

If the company’s senior lender declares that debt is due and payable immediately, the company would be unable to repay, and “the lender could foreclose on its security interest and liquidate or take possession of some or all of the assets of the company and its subsidiaries,” according to the filing.

This would require the company to curtail or cease operations.

“There is no assurance that the Company will be able to restructure its obligations, obtain additional financing, and/or sell assets on terms and conditions that will permit the Company to meet its current obligations,” BurgerFi added.

The chain secured an emergency protective advanced agreement with its lenders of $2.5 million earlier this month, but that is nowhere near enough to sustain operations with growing losses.

BurgerFi, which went public in 2020 following a merger with a SPAC, has struggled during the last few years as its net losses have persisted. In 2022, net losses topped $100 million, before improving to $30 million last year.  

In 2023, the chain hired Carl Bachmann as CEO and Christopher Jones as CFO to help turn around the business.

end

Lowe’s Cuts Full-Year Outlook On “Challenging Macroeconomic Backdrop” Hitting Homeowners 

Tuesday, Aug 20, 2024 – 10:20 AM

Home improvement retailer Lowe’s beat second-quarter earnings expectations but fell short on sales, slashing its full-year outlook due to “lower-than-expected DIY sales” in a “pressured macroeconomic environment.” Lowe’s and other industry peers like Home Depot have warned about an uncertain outlook as housing market trends slow amid high interest rates and elevated inflation, impacting low/mid-tier consumers. 

Goldman’s Kate McShane provided clients with an earnings snapshot for Lowe’s second-quarter earnings: 

LOW reported 2Q24 adj. EPS of $4.10, above the GS and consensus (Refinitiv) estimates of $3.99/$3.97. Adj results excludes a pre-tax gain associated with the 2022 sale of the Canadian retail business. Net sales decreased 5.5% y/y to $23.586bn, below the GS estimate of $24.038bn and consensus of $23.946bn, while comparable sales decreased 5.1% y/y vs. the GS estimate of -4.0% and consensus of -4.1%. Operating margin decreased 114 bps y/y to 14.4% (vs. GS/consensus of 14.1%/14.1%) as operating expenses (SG&A and D&A) as a % of sales increased 96 bps y/y to 19.0% while gross margin decreased 18 bps y/y to 33.5%.

Here’s more on McShane’s earnings breakdown for the second quarter:

• Sales decreased 5.5% y/y to $23.586bn, below the GS estimate of $24.038bn and consensus of $23.946bn. Comparable sales decreased 5.1% y/y as a decline in DIY big ticket discretionary and unfavorable weather was partially offset by positive comps in Pro and online
• Gross margin decreased 18 bps y/y to 33.5%, compared to the GS estimate of 33.5% and consensus of 33.3%.
• Total operating expenses (SG&A and D&A) decreased 0.5% y/y to $4.5bn and represented 19.0% of sales compared to 18.1% in the prior year. Operating margin decreased 114 bps y/y to 14.4%, above the GS/consensus estimates of 14.1%.
• Inventory decreased 3.3% y/y to $16.8bn and compares to the -5.5% sales decline. LOW’s payables ratio of 61.4% compares to 59.3% in the prior year.

Lowe’s reduced its full-year forecast because of a pull back in consumer spending, especially in do-it-yourself projects.

“Based on lower-than-expected DIY sales and a pressured macroeconomic environment, the company is updating its outlook for the operating results of the full year 2024,” the retailer wrote in a statement. 

McShane provided more color on the lowered full-year guidance: 

LOW lowered their FY24 guidance, including sales of $82.7bn-83.2bn (vs. $84bn-85bn prior), comparable sales of -3.5% to -4.0% (vs. -2% to -3% prior), adj. operating margin of 12.4%-12.5% (vs. 12.6%-12.7 prior), adj. EPS of $11.70-$11.90 (vs. $12.00-$12.30 prior). Guidance for interest expense remains at $1.4 and capital expenditures of $2bn.

Marvin R. Ellison, Lowe’s chairman, president and CEO, commented on the earnings report:

“The company delivered strong operating performance and improved customer service despite a challenging macroeconomic backdrop, especially for the homeowner.”

McShane noted, “Although LOW missed expectations, we think this was somewhat expected after the HD print last week.” 

She added that LOW is “Buy rated” for clients with a 12-month price target of $268, noting that “deterioration in the pricing environment from increased competition or softer-than-expected demand could weigh on profitability.” 

Here are other analyst commentary from Wall Street’s top banks (courtesy of Bloomberg): 

Morgan Stanley (overweight)

• “Our key takeaway on LOW’s results is better than feared for 2Q earnings,” as well as its revised forecast, analyst Simeon Gutman writes
• Lowe’s is “holding to its promise” of managing margins, with “solid” gross margin performance in 2Q and what looks to be “exceptional cost control”
• He thinks shares can “tread water in the near term,” and hold on to their ~4% gain since rival Home Depot reported last Tuesday
• That said, Gutman views consensus estimates for next year as “too high” amid expectations for a prolonged recovery in home improvement

JPMorgan (overweight)

• “Importantly, the gross and operating margin upside in 2Q is consistent with our relatively positive view of LOW’s margin outlook and contrary to the bear case that the company over- earned/under-invested and had high risk implied in its guide (it also counters a gross margin miss in 1Q),” analyst Christopher Horvers writes
• Both gross and operating margin topped expectations as “productivity efforts continued to drive expense control,” he says
• Bottom line on print: “nothing surprising with margin upside underpinning a more positive view.” He’ll be listening for quarter-to-date commentary to gauge how “prudent” the annual forecast might be

RBC (sector perform)

• The 5.1% comparable sales decline was “largely expected” after Home Depot’s results last week, according to analyst Steven Shemesh
• Pro comps gain of mid-single digits (vs. low-single digit growth in 1Q), which shows continued outperformance vs. Home Depot, but slowing DIY comp. sales probably give investors “some pause” even with likelihood of lower interest rates later this year
• “Better gross margin and less SG&A deleverage vs. consensus is also noteworthy, but revised FY’24 guidance implies that 2H EPS still needs to come down by ~8% at the mid-point,” he adds
• Still, he expects the comp miss/guidance cut to be viewed in “somewhat of a positive light” as it lowers the bar and makes for easier comparisons next year
• Shares likely to remain “range bound” until there is more clarity on the “potential duration of consumer malaise”

In markets, LOW shares are marginally lower in premarket trading in New York. What’s important to note about the few years of sideways price action is that it stems from the Federal Reserve’s interest rate hiking cycle, which lifted off in early 2022. High interest rates and elevated inflation have pressured low/mid-tier consumers, forcing many to pull back on discretionary spending. 

Last week, Lowe’s rival Home Depot beat quarterly expectations for earnings and revenue but issued a warning for the quarters ahead that weaker consumer trends will emerge. One major theme this earnings season has been top execs overly concerned about discretionary spending pullbacks from low-end consumers.

(Jonathan Turley)

The EU’s declared war on free speech

The EU Just Declared War On Free Speech In America. It Is Time To Fight Back…

Tuesday, Aug 20, 2024 – 05:00 AM

Authored by Jonathan Turley,

Eighty years ago, the U.S. government launched a war bond campaign featuring a painting by artist Norman Rockwell in the struggle against the authoritarian threat from Europe. The picture they chose was Rockwell’s Freedom of Speech depicting a man rising to speak his mind at a local council meeting in Vermont. The image rallied the nation around what Louis Brandeis called our “indispensable right.”

Now, that very right is again under attack from another European government, which is claiming the right to censor what Americans are allowed to say about politics, science and other subjects.

Indeed, the threat from the European Union may succeed in curtailing American freedom to an extent that the Axis powers could not have imagined. They may win, and our leaders have not said a thing yet about it.

In my book “The Indispensable Right: Free Speech in an Age of Rage,” I discuss the inspiration for Rockwell’s painting: a young selectman in Vermont named James “Buddy” Edgerton. The descendent of a Revolutionary War hero, Edgerton stood up as the lone dissenter to a plan to build a new schoolhouse over the lack of funding for such construction.

For Rockwell, the scene was a riveting example of how one man in this country can stand alone and be heard despite overwhelming opposition to his views. It was, for Rockwell (and for many of us), the quintessential American moment.

In the 1940s, people like Edgerton had to travel to small board meetings or public spaces to speak their mind.

Today, the vast majority of political speech occurs over the Internet and specifically social media.

That is why the internet is the single greatest advancement for free speech since the printing press.

It is also the reason governments have spent decades seeking to control speech over the internet, to regulate what people can say or read.

One of the greatest threats to free speech today is the European Digital Services Act. The act bars speech that is viewed as “disinformation” or “incitement.” European Commission Executive Vice President Margrethe Vestager celebrated its passage by declaring that it is “not a slogan anymore, that what is illegal offline should also be seen and dealt with as illegal online. Now it is a real thing. Democracy’s back.”

In Europe, free speech is in free fall. Germany, France, the United Kingdom and other countries have eviscerated free speech by criminalizing speech deemed inciteful or degrading to individuals or groups. The result had made little difference to the neo-Nazi movement in countries like Germany, which is reaching record numbers. It has, however, silenced the rest of society.

According to polling, only 18 percent of Germans feel free to express their opinions in public.

Fifty-nine percent of Germans do not even feel free expressing themselves in private among friends. Only 17 percent feel free to express themselves on the internet.

They have silenced the wrong people, but there is now a massive censorship bureaucracy in Europe and the desire to silence opposing voices has become insatiable.

Some in this country have the same taste for speech-regulation. After Elon Musk bought Twitter and dismantled most of the company’s censorship program, many on the left went bonkers. That fury only increased when Musk released the “Twitter files,” confirming the long-denied coordination and support by the government in targeting and suppressing speech.

In response, Hillary Clinton and other Democratic figures turned to Europe and called upon them to use their Digital Services Act to force censorship against Americans.

The EU immediately responded by threatening Musk with confiscatory penalties against not just his company but himself. He would have to resume massive censorship or else face ruin.

It was a case of the irresistible force meeting the immovable object. The anti-free speech movement had finally found the one man who could not be bullied, coerced or threatened into submission.

Musk’s defiance has only magnified the unrelenting attacks against him in the media, academia and government. If Musk can be broken, these figures will once again exercise effective control over a large swath of speech globally.

This campaign recently came to a head when Musk had the audacity to interview former president Donald Trump. In anticipation of the interview, one of the most notorious anti-free speech figures in the world went ballistic.

European Commissioner for Internal Markets and Services Thierry Breton issued a threatening message to Musk, “We are monitoring the potential risks in the EU associated with the dissemination of content that may incite violence, hate and racism in conjunction with major political — or societal — events around the world, including debates and interviews in the context of elections.”

While offering a passing nod to the freedom of speech, he warned Musk that “all proportionate and effective mitigation measures are put in place regarding the amplification of harmful content in connection with relevant events.” In other words, be afraid, be very afraid.

Musk responded with “Bonjour!” and then suggested that Breton perform a physically challenging sexual act.

To recap, the EU is now moving to force censorship upon American citizens to meet its own demands of what is false, demeaning or inciting. And that includes censorship even of our leading political candidates for the presidency.

The response from the Biden administration was not a presidential statement warning any foreign government from seeking to limit our rights or even Secretary of State Antony Blinken calling the EU ambassador to his office for an expression of displeasure.

That’s because Biden and Harris are not displeased with but supportive of letting the EU do what they are barred from doing under our Constitution. This administration is arguably the most anti-free speech government since John Adams signed the Sedition Act. They have supported a massive system of censorship, blacklisting and targeting of opposing voices. Democratic members have given full-throated support for censorship, including pushing social media companies to expand in areas ranging from climate control to gender identity.

So, after only 80 years, our leaders are silent as a European government threatens to reduce our political speech to the lowest common denominator, which they will set according to their own values. Not a shot will be fired as Biden and Harris simply yield our rights to a global governing system.

But we do not have to go quietly into this night. Free speech remains a human right that is part of our DNA as Americans. We can fight back and protect millions of Edgertons who want to express their views regardless of the judgment of the majority.

I previously called for legislation to get the U.S. government out of the censorship business domestically. We also need new legislation to keep other countries from regulating the speech of our own citizens and companies. While this country has long threatened retaliation in combatting market barriers in other countries, we need to do the same thing for free speech. We need a federal law that opposes the intrusion of the Digital Services Act into the U.S.

If free speech is truly the “indispensable right” of all Americans, we need to treat this threat as an attack on our very existence. It is not only the rawest form of foreign intervention into an election, but a foreign attack on our very freedoms. This is why we must pass a Digital Freedom Act.

*  * *

Jonathan Turley is the Shapiro Professor of Public Interest Law at George Washington University. He is the author of “The Indispensable Right: Free Speech in an Age of Rage” (Simon & Schuster).

end

The author of this piece, certainly has it correct!

(Joondeph/America Thinker)

Time For NeverTrump Republicans To Put On Their Big Boy Pants & Think Of Their Country

Monday, Aug 19, 2024 – 11:25 PM

Authored by Brian C. Joondeph via American Thinker,

My flak jacket is on as I write this since I am sure to offend or piss off some friends, family, and colleagues who are ostensibly Republicans or conservatives but have a visceral aversion to Donald Trump.

Some tell me they are Republican and miss Ronald Reagan but also admit they “couldn’t” vote for Donald Trump in either 2016 or 2020. Nothing says one is Republican like voting for a liberal Democrat.

This is the NeverTrump wing of the Republican Party, emerging shortly after Trump secured the GOP nomination in 2016. Reasons for NeverTrump-ism are myriad.

Some were offended by his mean tweets, name-calling, and brash Queens personality. Others disliked his confidence and determination to punch back twice as hard when attacked, particularly when the attacks were bogus (Russian collusion, fine people, grab em by the p***y, etc).

Many establishment Republicans only wanted a nominee who was part of George Carlin’s “big club,” with the last name of Bush, or endorsed by the Chamber of Commerce, The Wall Street Journal, or the Koch brothers.

Still others bristled at Trump’s desires to secure America’s borders, avoid foreign wars, achieve American energy independence, and level the playing field of global trade. After all, globalists and the military-industrial complex are happy with and profit immensely from open borders, endless wars, high energy prices, and China-centric trade deals.

In two and a half months, there will be a reckoning, America First versus America Last. The comparisons to four years ago are legion.

Trump attempted to build a border wall, despite NeverTrump resistance from his own party. Biden opened the border to the tune of 10,000 known illegal crossings per day.

Trump nominated three Constitutional Supreme Court justices while Biden nominated one who doesn’t know what a woman is. Democrats want to stack the high court with leftists who will rewrite the U.S. Constitution to resemble Marx and Engels’s Communist Manifesto.

Trump’s economy had high employment and low inflation. The Biden/Harris/Obama economy provided the opposite. Trump did not start any foreign wars during his four years in office. Harris/Obama/Biden started wars between Ukraine and Russia, Israel and Iran, and Yemen and the Western world.

Our national debt has eclipsed $35 trillion. Congress spends $12 million per minute. Our debt-to-GDP ratio is 1.37, red line territory. GDP represents all federal income, personal and government, but federal receipts or income is only $4.4 trillion, an eighth of the debt.

If the federal government aimed to eliminate the debt, it would take eight years with zero spending on anything the government currently funds. Our rapidly growing debt is not sustainable without some serious course correction. Who is more likely to steer America in the right direction? Obama/Harris/Biden or Trump? This should be an easy answer.

The current Democrat presidential ticket is two Marxists. They want to command and control all aspects of American economics and life. They will weaponize the government even further to achieve their Orwellian dystopia. The U.K. is imprisoning those who post critical or mean comments on social media. Harris/Walz will say, “Hold my beer” and double down on censorship, punishing anyone who disagrees with Big Brother.

They will regulate the airline industry to the point that air travel is either unaffordable or impractical. Price controls will be added to food and groceries, limiting choices and creating shortages. How did government control of food distribution work in Venezuela and the U.S.S.R.?

Taxes would rise under a Harris administration. So would the minimum wage, making small business so small it no longer exists, while big business simply passes on increased wage costs to consumers, a stealth tax.

Under a Democrat administration, America will send money and U.S. soldiers to defend other countries’ borders, while leaving America’s borders wide open. Illegal aliens will continue terrorizing, injuring, or killing Americans, whether at a Missouri laundromat, a Wisconsin home,  or at a Florida motel.

Cutesy time is over, as Dan Bongino would say. In a few months, America will either have a reset, or a quick slide into tyranny and chaos.

Trump is Trump, his personality almost 80 years in the making. He will not suddenly become Ronald Reagan, with a smooth voice and disarming charm. But so what?

Trump’s brashness is a breath of fresh air compared to career politicians who offer a word salad of platitudes and promises while actually accomplishing nothing.

When you are dying from some strange disease that no one can diagnose or treat, who do you want caring for you? You could have warm, empathetic, fatherly Dr. Marcus Welby, who doesn’t know what’s wrong with you but holds your hand as you die. Or you could have rude, abrasive, obnoxious Dr. Gregory House who, while making fun of you with zero bedside manner, makes the correct diagnosis and prescribes the proper treatment, allowing you to walk out of the hospital a week later.

We are not choosing a prom date, a spouse, a roommate, or a valentine. We are choosing the leader of America and the free world. You may not like Trump’s calling his opponents mean names. But did you object when Bush was called ‘Hitler,’ Trump ‘a Nazi,’ or Paul Ryan “pushed” granny off a cliff?

Politics ain’t beanbag. If your opponent is fighting dirty, you had better step up or you will lose. It seems many NeverTrump Republicans, rather than get their knuckles bloody, would rather take the high road and deliver a kindly concession speech.

What’s more offensive? J.D. Vance tweeting about the new Democrat base of childless cat ladies? Or the U.K. imprisoning one of her citizens for 20 months for posting on Facebook, “Every man and their dog should be smashing f*** out Britannia Hotel.” While at home we have no problem with Daily Beast and CNN contributor Reza Aslan tweeting, “If they even TRY to replace RBG we burn the entire f***ing thing down.”

Assuming the election actually happens (not derailed by pandemic, cyberattack, or war) and that Harris/Walz is the ticket (rather than Obama, Clinton, or Biden), America is faced with a binary choice. At least the Republican ticket was chosen by voters, unlike the Democrat ticket selected in a smoke-filled room by DNC muckety-mucks.

NeverTrumpers can pout that their preferred guy or gal was rejected, not by the Chamber of Commerce or Wall Street Journal but by Republican voters, instead nominating someone who speaks to the concerns of millions of Americans and is willing to fight for them. It’s a simple choice and not that complicated.

Insurrection Barbie on Twitter concluded a rant with this:

When Trump was president, your streets were safer, your border was secure, your wallet had more money in it, you could buy more goods with your paycheck, and the entire world was at peace instead of on fire.

Voting for communism is not the solution to your precious feelings.

Get a therapist.

Time for NeverTrumpers to put on their big boy pants and think of their country, their children, and grandchildren. Do they want the Marxist world the Democrats are eager to usher in, displayed in real time in the U.K.? Or do they want to push back in the only way practical?

As Ronald Reagan spoke in 1964, it’s “a time for choosing.” Choose wisely.

Brian C. Joondeph, M.D., is a physician and writer. Follow me on Twitter @retinaldoctor, Substack Dr. Brian’s Substack, Truth Social @BrianJoondeph, and LinkedIn @Brian Joondeph.

end

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

SWAMP STORIES

Manhattan DA Defers To Judge On Delaying Trump’s Sentencing Date

by Tyler Durden

Monday, Aug 19, 2024 – 10:35 PM

Authored by Jack Phillips via The Epoch Times,

Manhattan District Attorney Alvin Bragg’s office said it will defer to a New York judge on former President Donald Trump’s request to delay his criminal case sentencing until after the presidential election this year.

Bragg’s office, in a letter received by the court on Aug. 19, wrote that prosecutors will leave it up to Judge Juan Merchan to decide whether Trump’s sentencing in his New York case should be delayed beyond the current Sept. 18 hearing date.

Trump’s attorneys last week asked the judge to postpone his sentencing until after the November election, where he is the leading Republican candidate for president. Prosecutors did not specifically oppose the former president’s request for a delay.

Prosecutors wrote in their letter, “Given the defense’s newly-stated position, we defer to the Court on whether an adjournment is warranted to allow for orderly appellate litigation of that question, or to reduce the risk of a disruptive stay from an appellate court pending consideration of that question.”

“The People are prepared to appear for sentencing on any future date the Court sets,” the letter continued.

In their request for a delay, Trump’s lawyers last week wrote to the judge that the sentencing should take place after the start of early voting for the election, saying the timing would harm the proceedings.

“Sentencing is currently scheduled to occur after the commencement of early voting in the Presidential election,” attorney Todd Blanche wrote.

“By adjourning the sentencing until after that election—which is of paramount importance to the entire Nation, including tens of millions of people who do not share the views of Authentic, its executives, and its clients—the Court would reduce, even if not eliminate, issues regarding the integrity of any future proceedings.”

They also argued there was not enough time before the sentencing for the defense to potentially appeal Merchan’s ruling on Trump’s request to overturn the conviction due to the Supreme Court’s landmark ruling on presidential immunity.

The Supreme Court’s 6–3 decision, which related to a separate criminal case Trump faces, found that presidents cannot be criminally prosecuted for their official acts, and that evidence of presidents’ official actions cannot be used to help prove criminal cases involving unofficial actions.

Bragg’s office responded by saying that prosecutors will also not take a position, leaving it to Merchan to decide.

In their letter, prosecutors said the prospect that Trump immediately appeals the judge’s decision on immunity may mean a potential Sept. 18 sentencing would be delayed anyway after “significant public safety and logistical steps” were already taken to prepare for Trump’s court appearance.

In May, a Manhattan jury found Trump guilty on 34 counts of falsifying business records before Merchan set a July 11 sentencing date. The judge later postponed it to Sept. 18 and last month said he would rule on Trump’s immunity claim on Sept. 16.

During the six-week-long trial, prosecutors said that Trump criminally concealed payments to prevent an adult performer, Stephanie Clifford, from going public about an alleged affair she said occurred in 2006, which the former president has categorically denied. They further argued that the concealing of the payments was designed to impact the 2016 election with the intent to violate election laws.

Trump faces criminal charges in two other jurisdictions—one in Fulton County, Georgia, and the other in Washington—for alleged election interference after the 2020 election. His classified records case was dismissed by a federal judge last month, although Jack Smith, the special counsel who brought that case and the Washington one, has vowed to appeal the judge’s decision.

The Fulton County election case, meanwhile, has been postponed as Trump and several co-defendants have appealed a Fulton County judge’s decision that allowed District Attorney Fani Willis to remain on the case amid allegations of impropriety. His Washington case restarted several weeks ago after the Supreme Court’s immunity decision.

Trump pleaded not guilty to all the charges, repeatedly saying they’re politically motivated and designed to harm his 2024 candidacy.

The May conviction was the first time in U.S. history that a current or former president was convicted of a felony crime. Earlier in August, Trump again attempted to have Merchan recuse himself from the case, which the judge denied.

end

RNC Asks Supreme Court To Block 41,000 Arizona Voters From Voting In November

Monday, Aug 19, 2024 – 09:45 PM

Authored by Matthew Vadum via The Epoch Times,

The Republican National Committee (RNC) asked the Supreme Court on Aug. 19 to prevent 41,000 registered voters from voting in the November presidential election because they allegedly did not provide proof of U.S. citizenship.

Arizona is a hotly contested battleground that could help determine who wins the election. In 2020, President Joe Biden won Arizona by 10,457 votes.

The new filing in RNC v. Mi Familia Vota came after the RNC filed an emergency application with the court on Aug. 8. Respondent Mi Familia Vota is a nonprofit group active in Arizona and several other states.

The application is pending before Justice Elena Kagan.

At issue in the case are the Arizona laws, H.B. 2492 and H.B. 2243, which the state Legislature approved in 2022.

The statutes require people registering to vote in the state to present “satisfactory” proof of citizenship, such as a birth certificate, to provide proof of eligibility to vote. The laws also require registrants to provide their state or country of birth and require counties to carry out citizenship verifications and purge noncitizens from the voter rolls. U.S. District Judge Susan Bolton halted enforcement of the proof of citizenship mandate on May 2, citing the National Voter Registration Act of 1993 (NVRA), also known as the Motor Voter Law, and a prior state court order.

U.S. District Judge Susan Bolton halted enforcement of the proof of citizenship mandate on May 2, citing the federal so-called Motor Voter Law and a prior state court order.

A divided panel of the U.S. Court of Appeals for the Ninth Circuit affirmed Bolton’s order by a vote of 2-1 on Aug. 1.

Although Congress has made it easier for Americans to register to vote, federal rules should not be allowed to supersede “the Arizona Legislature’s sovereign authority to determine the qualifications of voters and structure participation in its elections,” the RNC said in the application it originally filed on Aug. 8.

In the Aug. 19 filing, the RNC referenced the other side’s invocation of the so-called Purcell Principle, which is a judicial doctrine that courts should not change rules close to an election because doing so creates a risk of causing confusion.

But this approach is wrong because it would require “courts to make a freestanding assessment of whether enforcement or nonenforcement of state election law is more likely to cause confusion.”

The respondents’ argument would impose an unfair standard because it directs federal courts to look at state enforcement policy and “find that the status quo weighs in favor of an injunction if enforcement has not been vigorous enough,” the brief says.

This refashioning of the Purcell Principle would also make federal courts “weigh Purcell in favor of an injunction if enough state election officials would prefer that result—even when other state officials would enforce state law.”

This approach to Purcell would allow federal authorities to interfere with state lawmaking processes.

“Allowing the Ninth Circuit’s weaponization of Purcell against state election law to stand will only encourage more last-minute injunctions by federal courts,” the brief says.

Arizona Secretary of State Adrian Fontes urged the Supreme Court to reject the application in a brief filed on Aug. 16.

It is already too close to the election for the Supreme Court to act in this time-sensitive case, he said.

“In just a mere 7 weeks, early voting in Arizona will begin. To be sure, at this juncture in Arizona elections, time is not only of the essence, but it is in short supply. “

“Last minute statewide policy changes like those requested in the Application, no matter how small they may seem to some, can (and Secretary Fontes believes will) drastically impact how affected votes are collected and processed.”

The U.S. Department of Justice urged the Supreme Court to deny the application.

Solicitor General Elizabeth Prelogar said in a brief filed Aug. 16 that because the NVRA “preempts” the Arizona laws’ requirement that voters file “documentary proof in order to vote for President or vote by mail,” the RNC was “unlikely to prevail” in the case.

Federal preemption means that a state law that conflicts with federal law is invalid.

It is unclear when the Supreme Court will act on the RNC’s application.

KING REPORT

The King Report August 20, 2024 Issue 7309

Independent View of the News

ESUs traded moderately higher but sideways from the Nikkei opening until they broke lower during the final 40 minutes of Nikkei trading.  The decline progressed until ESUs hit a daily low of 5565.25 at 4:05 ET.  ESUs rallied steadily until 10:09 ET.  The dump then dropped ESUs from 5592.00 to 5573.50 at 10:16 ET.  When ESUs have gotten slammed over the past 5-6 sessions, someone quickly rescues them.   Somone then manipulated ESUs to 5602.25 at 10:51 ET.  ESUs relentlessly rallied, with only a few minor interruptions, until they hit the daily high of 5631.75 at 16:00 ET.  Fangs led the intractable rally.   Gold hit a new all-time high; bonds rallied moderately; and the dollar declined sharply on the belief, or hope, that Powell will issue dovish pronouncements at the KC Fed Jackson Hole soiree on Friday.   @charliebilello on Sun.: Price to Earnings Ratios   NVIDIA: 73 Tesla: 61 Amazon: 42 Netflix: 42 Microsoft: 35 Apple: 34 Meta: 27 S&P 500: 27 Google: 23     Price to Sales Ratios   NVIDIA: 39 Microsoft: 13 Meta: 9.3 Apple: 9.1 Netflix: 8.2 Tesla: 7.9 Google: 6.4 Amazon: 3.1 S&P 500: 2.9     @lisaabramowicz1: Yields on US junk bonds have fallen to the lowest in more than two years. https://x.com/lisaabramowicz1/status/1825493624974418329   Positive aspects of previous session Stocks rallied robustly; Fangs soared; USUs rallied 12/32 Oil and gasoline declined sharply.   Negative aspects of previous session Gold soared to an all-time high; the dollar got hammered. The odds of an equity market debacle in the autumn are escalating daily! Ambiguous aspects of previous session The relentless ESU manipulation is still operative.  DJT heralded a ‘Kamala Crash’ again.   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]: 5589.10 Previous session S&P 500 Index High/Low: 5608.30; 5550.74   Today – Traders are exceedingly bullish for Jackson Hole Week on the belief, or hope, that Powell will issue dovish remarks on Friday, including a de facto guarantee of a rate cut in September.  Also, traders are keenly aware that someone is determined to force ESUs higher.  Rational traders will NOT stand in the way of the most persistent and adamant manipulation that has occurred in years.   Ergo, today’s action depends on the presence or absence of the ESU manipulator.  Atlanta Fed Pres Bostic 13:35 ET on Investing for Inclusion, Fed Gov. Barr 14:45 ET on Cybersecurity.   NQUs are +6.00; ESUs are -1.25; and USUs are-2/32 at 21:15 ET.   S&P Index 50-day MA: 5469; 100-day MA: 5429; 150-day MA: 5228; 200-day MA: 50672 DJIA 50-day MA: 39,657; 100-day MA: 39,230; 150-day MA: 39,032; 200-day MA: 38,304 (Green is positive slope; Red is negative slope)   S&P 500 Index (5608.25 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 positive – a close below 5330.65 triggers a sell signal Hourly: Trender is positive; MACD are negative – a close below 5570.44 triggers a sell signal   Kamala Harris Met Secretly with Radical, Antisemitic Dearborn, Michigan, Mayor The meeting was reported by the Associated Press, buried within an article published on Saturday about the so-called “uncommitted” group of voters, particularly in Michigan, who are trying to push the Democratic Party into an openly anti-Israel position… During a campaign trip to Michigan last week, Harris met with Abdullah Hammoud, the 34-year-old mayor of Dearborn, a Detroit suburb that has the largest number of Arab Americans of any city in the United States… https://www.breitbart.com/politics/2024/08/18/kamala-harris-met-secretly-with-radical-antisemitic-dearborn-michigan-mayor/   @JackPosobiec: CAUGHT: The Kamala Doritos thing at Sheetz was so fake they filmed it twice, once with Doug (husband), once with Tim (Walz). Notice on the ‘official’ clip Tim ‘finds’ her a bag but she’s already holding one. She forgot to put it down. Totally scripted.  https://t.co/KGQX9HPEVA   @saras76: Kamala’s campaign visited Primanti’s yesterday, and kicked out all the customers and Trump supporters so they could bring in their paid “fans” they’re toting around in white vans.  Pathetic and vile shrew.  https://x.com/saras76/status/1825517827240902875   Harris roasted for latest word salad about ‘duality’ of democracy: ‘This is why she can’t go off script’ – Harris described democracy as both ‘incredibly strong’ and ‘incredibly fragile’ https://www.foxnews.com/media/harris-roasted-latest-word-salad-about-duality-democracy-this-why-she-cant-go-off-script   As a high school teacher, Walz presented to students favorable picture of communism in China Walz told his social studies students in the 1990s that “everyone is the same and everyone shares” in China, and citizens receive free food and housing. https://justthenews.com/politics-policy/elections/high-school-teacher-walz-presented-his-students-favorable-picture   Walz Praised Chinese Communism as a System Where ‘Everyone Shares’ As social studies teacher, Walz tells students everyone in China gets free rice https://freebeacon.com/elections/walz-praised-chinese-communism-as-a-system-where-everyone-shares/   If Tim Walz is so ‘damn proud’ of his service record, then why did he misrepresent it? https://thehill.com/opinion/campaign/4830359-tim-walz-military-deception/   House probe concludes Joe Biden committed impeachable offenses by helping enrich his family The 291-page report lays out evidence of the Biden family’s foreign payments and the family patriarch’s role in meeting or speaking with partners. https://justthenews.com/accountability/political-ethics/emb-5am-819-house-committees-conclude-joe-biden-engaged-impeachable   Dems impeached Trump twice.  Republicans say it’s too late to impeach Biden.  One team plays to win; the other team is too timid to thoroughly commit to win.   Kamala’s husband, Doug Emhoff, practiced his entrance to the DNC Convention podium.   @_johnnymaga: Doug Emhoff practices his dancing and waves at the DNC before an imaginary crowd. Embarrassing people. https://x.com/_johnnymaga/status/1825568542722297888   @greg_price11: The official DNC platform has been released and it makes at least five mentions of “Biden’s second term.”   Tough look for the Democrat copy editors. https://x.com/greg_price11/status/1825557327300510072   @Breaking911: This is tomorrow morning’s schedule at the DNC. Constituents will be separated by race. Democrats love segregation.  https://x.com/Breaking911/status/1825294920967750003   @MonicaCrowley: Obama & Biden are bouncing from the DNC before Harris accepts the nomination. PA Gov Josh Shapiro isn’t attending the DNC at all. Neither is Sen John Fetterman, among others.  Don’t buy their “one big happy communist family” BS this week.  Like Kamala, it’s all a big fraud.   @nicksortor: The CHAIR of the Democrat Party is speaking, but it’s practically EMPTY because the protestors have practically shut the place down… https://x.com/nicksortor/status/1825690988221743201   @TPAction_: Lights on, but no one’s home (Biden’s countenance at convention) https://x.com/TPAction_/status/1825687261092130969   Double-digit lead with independents drives Trump advantage in fresh Pennsylvania poll https://trib.al/YMc3Arm   @greg_price11: (Dem) Rep Joyce Beatty: “JD Vance likes to talk about how he’s from Ohio but as soon as he could, he ran away to Yale.” Democrats really hate how @JDVance overcame poverty to became successful. https://x.com/greg_price11/status/1825686764130021579   Only a depraved person that utilizes the politics of envy would trash someone for going from poverty to Yale Law School, with a stop in the US Marine Corp.   https://x.com/greg_price11/status/1825686764130021579   @SteveGuest: WATCH: CNN’s Jake Tapper: Have you talked to Joe Biden? Nancy Pelosi: “I did what I had to do. … My concern was not about the president; it was about his campaign.” https://x.com/SteveGuest/status/1825693490115653917

GREG HUNTER

SEE YOU ON WEDNESDAY//