GOLD PRICE CLOSED DOWN $1.60 TO $2518.15

SILVER PRICE DOWN $.03 TO $29.97

Gold ACCESS CLOSED $2524.90

Silver ACCESS CLOSED: $30.00

Tonight we finished with Comex options expiry. Friday is OTC/London LBMA options expiry which is much bigger than comex.

Bitcoin morning price:$62,514 DOWN 1156 DOLLARS.

Bitcoin: afternoon price: $62,292 DOWN 1378 DOLLARS

Platinum price closing  DOWN $5.60 TO $961.30

Palladium price; UP $7.50 TO $975.60

END

*CANADIAN GOLD: $3395.05 DOWN 1,25 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,903.65 DOWN 7.65 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,257,66 UP 1.87 Euros per oz //* (ALL TIME CLOSING HIGH: 2.273.50 EUROS PER OZ//AUGUST 16 //.2024)

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END

EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: AUGUST 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,517.700000000 USD
INTENT DATE: 08/26/2024 DELIVERY DATE: 08/28/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

363 H WELLS FARGO SEC 29
661 C JP MORGAN 54
686 C STONEX FINANCIA 2
690 C ABN AMRO 15
726 C PLUS500US FINAN 1
737 C ADVANTAGE 2
905 C ADM 15
991 H CME 56

---

TOTAL: 87 87
MONTH TO DATE: 22,192

JPMorgan stopped 29/87

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 87 NOTICES FOR 8700 OZ  or  0.2706 TONNES

total notices so far: 22,192 contracts for 2,219,200  Oz (69.026 tonnes)

FOR  AUGUST:

SILVER NOTICES: 35 NOTICE(S) FILED FOR 175,000

OZ/

total number of notices filed so far this month : 952 for 4,760,000 oz

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GLD/

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

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

WITH GOLD DOWN $1.65 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 856.12 TONNES

INVENTORY RESTS AT 856.12 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $0.03 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV:ANOTHER WITHDRAWAL OF 2.921 MILLION OZ OUT OF THE SLV/

//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 462.959 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A GOOD SIZED 715 CONTRACTS TO 145,569 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS GOOD SIZED GAIN  IN COMEX OI WAS ACCOMPLISHED WITH OUR STRONG  GAIN OF $0.23 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING. WE LOST ZERO LONGS WITH THE GAIN IN PRICE. WE HAD A FAIR GAIN OF 308 CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS AND MONTH END SPREADERS DURING MONDAY’S TRADING//. WE HAD ZERO COVERING BY OUR SPECS WITH THE HUGE GAIN IN PRICE.  WE HAD ANOTHER  HUMONGOUS 1023 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER STRONG 447 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED 554 CONTRACTS ON OUR TWO EXCHANGES WITH THE 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: 447 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 $0.23) AND WERE UNSUCCESSFUL IN KNOCKING A ANY SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG GAIN OF 554 TOTAL CONTRACTS ON OUR TWO EXCHANGES

WE HAD A HUGE 1023 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 175,000 OZ QUEUE JUMP //NEW STANDING RISES TO 4.760 MILLION OZ

//NEW STANDING FOR SILVER//AUGUST IS THUS 4.760 MILLION OZ

WE HAD:

/ STRONG SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI)  STRONG SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 447 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 246 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 19 DAYS, total 16,943 contracts:   OR 84.715 MILLION OZ  (891 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  79.6 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; 84.715 MILLION OZ//THIS MONTH WILL PROBABLY BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

RESULT: WE HAD A STRONG SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF  715 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 1023 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 175,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR AUG  4.760 MILLION OZ 

WE HAVE A FAIR GAIN OF 308  OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 447 CONTRACTS,//SOME FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE STRONG RUNUP IN PRICE/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE MONDAY NIGHT   (447) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .

WE HAD 35 NOTICE(S) FILED TODAY FOR 175,000 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 1583 OI CONTRACTS  TO 525,873 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A MASSIVE 2204 CONTRACTS//

WE HAD A FAIR SIZED INCREASE  IN COMEX OI (1583 CONTRACTS) OCCURRED WITH OUR GAIN OF $9.00  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 1500 OZ E.F.P JUMP TO LONDON AS WE WITNESSED THESE GUYS TAKE IMMEDIATE DELIVERY OF GOLD OVER IN LONDON ON A FAST T + 1 BASIS.

NEW STANDING REDUCES TO  69.154 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $9.00 GAIN IN PRICE  WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF  2232 OI CONTRACTS (6.942 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. THE LOW GAIN IN COMEX OI WAS DUE TO DISTORTION FROM CONSIDERABLE T.A.S. LIQUIDATION AND MONTH END SPREADER LIQUIDATION.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A SMALL SIZED 649 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 528,077

IN ESSENCE WE HAVE A GOOD SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2232 CONTRACTS  WITH 1583 CONTRACTS INCREASED AT THE COMEX// AND A SMALL SIZED 649 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 2232 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALLISH 590 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A SMALL SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (649 CONTRACTS) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI OF 1583 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 2232 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 1500 OZ E.F.P. JUMP TO LONDON AS THESE BOYS TO THE E.F.P. FERRY TO LONDON TO TAKE IMMEDIATE DELIVERY OVER THERE

//NEW STANDING REDUCES TO: /AUGUST 69.154 TONNES. 

 / 3) CONSIDERABLE T.A.S. LIQUIDATION AND MONTH END SPREADER CONTRACT LIQUIDATION WITH ZERO NET LONG SPECS BEING CLIPPED,

  4) FAIR SIZED COMEX OPEN INTEREST GAIN 5)  SMALL ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S.  ISSUANCE: 590 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: 82,605 CONTRACTS OF 8,260,500 OZ OR 256.93 TONNES IN 19 TRADING DAY(S) AND THUS AVERAGING: 4347 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAY(S) IN  TONNES  256.93 TONNES

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

THUS EFP TRANSFERS REPRESENTS  256.91 DIVIDED BY 3550 x 100% TONNES = 7.21% 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: 256.91 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN 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 FELL BY A STRONG SIZED  715 CONTRACTS OI  TO 145,569 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  6 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 1023 CONTRACTS

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

SEPT 1023  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1023 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI LOSS OF 715 CONTRACTS AND ADD TO THE 1023 E.FP. ISSUED

WE OBTAIN A STRONG SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2232 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 1.54 MILLION OZ OCCURRED WITH OUR $0.23 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 6.79 PTS OR 0.24% //Hang Seng CLOSED UP 75.94 PTS OR 0.43% // Nikkei CLOSED UP 75.94 OR .43%//Australia’s all ordinaries CLOSED DOWN 0.17%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1266 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1273/ Oil UP TO 77.02 dollars per barrel for WTI and BRENT UP AT 81.04 Stocks in Europe OPENED ALL GREEN

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED  2232 CONTRACTS TO 525,873 WITH OUR GAIN IN PRICE OF $9.00 WITH RESPECT TO MONDAY’S TRADING. WE LOST A CONSIDERABLE NUMBER OF SPREADER/T.A.S. CONTRACTS AS SHORTS TRIED TO,  THROUGHOUT THE SESSION, COVER 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 AT THESE HIGHER PRICES AND THIS GOLD BOUGHT 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 HUGE T.A.S. LIQUIDATION ON MONDAY’S  GAIN IN PRICE WITH ZERO LONGS WERE 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. THE HIGH LIQUIDATION OF THE SPREADERS AND T.A.S IS SURELY DISTORTING COMEX OPEN INTEREST.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW ENTERING INTO THE ACTIVE DELIVERY MONTH OF AUGUST.…  THE CME REPORTS THAT THE BANKERS ISSUED A  FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A SMALL SIZED 649 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 649 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 649 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 GOOD SIZED TOTAL OF 2232 CONTRACTS IN THAT 649 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR GAIN OF 1583 COMEX  CONTRACTS..AND THIS GOOD GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $9.00/MONDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE. SEEMS NOBODY WAS FOOLED BY THE RAID ON THURSDAY AS THEY PILED INTO NEW CONTRACTS ON FRIDAY.

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 SMALL  SIZED 590 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 (AND SPREADERS LATE IN THE MONTH). 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 LAST THURSDAY.S HUGE /RAID.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   AUGUST  (69.154 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 69.2068 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $9.00 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A GOOD GAIN IN OUR TWO EXCHANGES. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A HUGE T.A.S. LIQUIDATION AND SPREADER LIQUIDATION MONDAY/COMEX.

WE HAVE GAINED A TOTAL OI OF 13.79 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 1500 OZ E.F.P. JUMP TO LONDON //NEW STANDING LOWERS TO: 69.154 TONNES.

NEW STANDING FOR AUGUST: 69.154 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  GAIN IN PRICE  TO THE TUNE OF $9.00

WE HAVE REMOVED A MAMMOTH 2232 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. THIS IS THE LARGEST ADJUSTMENT TO DATE.

NET GAIN ON THE TWO EXCHANGES 2232 CONTRACTS OR 223,200 OZ (6.942

TONNES)

confirmed volume MONDAY 136,373 contracts extremelypoor

//speculators have left the gold arena

END

AUGUST 27      AUGUST  GOLD CONTRACT

/ /// THE AUG 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	36,640.061 OZ 1.13 tonnes Delaware Loomis 21 kilobars Malca Asahi Brinks HSBC JPMorgan.           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	NIL oz
No of oz served (contracts) today	87 notice(s) 8700 OZ 0.2706 TONNES
No of oz to be served (notices)	41 contracts    4100 OZ 0.1275 TONNES
Total monthly oz gold served (contracts) so far this month	22,192 notices 2,219.200 oz 69.026 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: 6 (1.13 tonnes)

i) Out of ASAHI: 2913.141 oz

ii) Out of JPMorgan 1889.343 oz

iii) Out lf Loomis 670.171 oz (21 kilobars)

iv) Out of Maca: 23,186.883.

v) Out of HSBC: 7639.933 oz

vi) Out of Brinks 335.59 oz

TOTAL WITHDRAWALS 36,640.061 oz

adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST

For the front month of AUGUST we have an oi of 128 contracts having LOST 87 contracts.

We had 72 contracts served on MONDAY so we LOST an additional 15 contracts or 1500 oz will NOT stand for gold at the comex as they were immediately ferried over to London to take delivery via an exchange for physical transfer.

SEPT. GAINED 1 CONTRACTS TO STAND AT 5,365 CONTRACTS.

OCTOBER GAINED 140 CONTRACTS UP TO 53,297 CONTRACTS

We had 87 contracts filed for today representing 8700  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 87 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 29 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 (22,192) x 100 oz ) to which we add the difference between the open interest for the front month of  August 128( CONTRACTS)  minus the number of notices served upon today  (87x 100 oz per contract( equals  2,223,300 OZ  OR 69.154 TONNES. Somebody was in great need of physical gold on their side (London) of the pond today

thus the INITIAL standings for gold for the AUGUST contract month:  No of notices filed so far (22,105 x 100 oz +we add the difference for front month of AUGUST  (128 X// , OI} minus the number of notices served upon today (72) x 100 oz which equals  2,223,300 oz (69.154 TONNES) 

TOTAL COMEX GOLD STANDING FOR AUGUST: 69.154 TONNES WHICH IS HUGE FOR THIS  VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. 

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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: 1,747,723,704 oz 54.36 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,182,611.908 OZ  

TOTAL REGISTERED GOLD 7,789,128.244 ( 242.24 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,393,483.664 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,041,405 oz (REG GOLD- PLEDGED GOLD)= 187.91tonnes //

END

SILVER/COMEX

AUGUST 27/2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,291,630.470 OZ Delaware Brins CNT .
Deposits to the Dealer Inventory	NIL
Deposits to the Customer Inventory	1,072,412.970 oz ASAHI Loomis
No of oz served today (contracts)	35 CONTRACT(S)    (,000 OZ)
No of oz to be served (notices)	0 contracts  (0.000 million oz)
Total monthly oz silver served (contracts)	952 Contracts  (4.760 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  2 customer deposits:

i) Into ASAHI: 589,323.100 oz

ii) Into Loomis: 483,089.87

total customer deposit 1,072,412.970 oz

JPMorgan has a total silver weight: 135.336million oz/307.092 million  or 44.01%

adjustment:3

a) customer to dealer Asahi: 3,599,671.700 oz

b) customer to dealer Brinks: 264,192.750 oz

c) dealer to customer: Manfra/58,825.600 oz

withdrawals: 3

i)Out of Delaware 590,656.340 OZ

ii) Out of Brinks 600,659.27 oz

iii) Out of CNT 100,314.860 oz

total customer withdrawals: 1,291,630.470 oz

TOTAL REGISTERED SILVER: 73.082 MILLION OZ//.TOTAL REG + ELIGIBLE. 307.092 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:

silver open interest data:

FRONT MONTH OF AUGUST/2024 OI: 35 CONTRACTS HAVING GAINED 27 CONTRACT(S). 

WE HAD 8 NOTICES SERVED ON MONDAY, SO WE GAINED 35 CONTRACTs OR AN ADDITIONAL 175,000 OZ WILL STAND FOR SILVER AT THE COMEX.

SEPT SAW A LOSS OF 6798 CONTRACTS TO 29,625. SEPT NOW BECOMES THE NEW FRONT MONTH. WE HAVE 3 MORE READING DAYS BEFORE FIRST DAY NOTICE

OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 114 CONTRACTS AND THUS WE HAVE 1095 OPEN INTEREST CONTRACTS FOR OCTOBER.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 35 for 175,000 oz

CONFIRMED volume; ON THURSDAY 87,277 strong

To calculate the number of silver ounces that will stand for delivery in AUGUST we take the total number of notices filed for the month so far at 952 x 5,000 oz = 4.760 MILLION oz 

to which we add the difference between the open interest for the front month of AUGUST(35) and the number of notices served upon today 35 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST/2024 contract month:  952 notices served so far) x 5000 oz + OI for the front month of AUGUST (35)x number of notices served upon today minus (35)x 5000 oz of silver standing for the AUGUST  contract month equates to 4.760 MILLION OZ. 

 New total standing: 4.760 million oz.

There are 73.082 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

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

GLD AND SLV INVENTORY LEVELS//

GLD

AUGUST 27 WITH GOLD DOWN $1.65 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:/ //////INVENTORY RESTS AT 856.12 TONNES

AUGUST 26 WITH GOLD UP $9.00 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 1.73 TONNES OF GOLD VAPOUR GOLD OUT OF THE GLD./ //////INVENTORY RESTS AT 856.12 TONNES

AUGUST 23 WITH GOLD UP $29.70 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A MONSTER WITHDRAWAL OF 8.88 TONNES OF GOLD VAPOUR GOLD OUT OF THE GLD./ //////INVENTORY RESTS AT 857.85 TONNES

AUGUST 22 WITH GOLD DOWN $28.90 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A MONSTER DEPOSIT OF 9.43 TONNES OF GOLD VAPOUR GOLD INTO THE GLD./ //////INVENTORY RESTS AT 866.70 TONNES

AUGUST 21 WITH GOLD DOWN $1.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD: A MONSTER WITHDRAWAL OF 1.73 TONNES OF GOLD OUT OF THE GLD./ //////INVENTORY RESTS AT 857.27 TONNES

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

GLD INVENTORY: 856.12 TONNES, TONIGHTS TOTAL

SILVER

AUGUST 27//WITH SILVER DOWN $0.03//HUGE CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 2.921 MILLION OZ OZ OUT OF THE SLV. .///./// /INVENTORY AT 462.959 MILLION OZ

AUGUST 26//WITH SILVER UP $0.23//SMALL CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 45,000 OZ OUT OF THE SLV. .///./// /INVENTORY AT 465.880 MILLION OZ

AUGUST 23//WITH SILVER UP $0.72//HUGE CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 1.506 MILLION OZ INTO THE SLV. .///./// /INVENTORY AT 465.925 MILLION OZ

AUGUST 22//WITH SILVER DOWN $0.44//HUGE CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 0.943 MILLION OZ INTO THE SLV. .///./// /INVENTORY AT 468.344 MILLION OZ

AUGUST 21//WITH SILVER $0.03//HUGE CHANGES IN SILVER INVENTORY:A DEPOSIT OF 1..552 MILLION OZ INTO THE SLV. .///./// /INVENTORY AT 468.344 MILLION OZ

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.

CLOSING INVENTORY 462.959 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:

Should The Dollar Be Backed By Gold?

Monday, Aug 26, 2024 – 08:05 PM

Authored by Jacob Hornberger via The Future of Freedom Foundation,

Amidst all the talk about the Federal Reserve’s high interest-rate policy to combat its many years of monetary expansion and debasement, some people advocate the restoration of the monetary system on which the United States was founded — one in which, they say, the dollar was “backed by gold.”

But there is one great big flaw in that idea: Under America’s founding monetary system, the dollar never was “backed by gold.” Instead, the official money of the nation for more than 125 years was gold coins and silver coins. Those coins didn’t back anything because they constituted the nation’s official money itself.

The Framers wanted nothing to do with paper money. They knew that historically paper money had been the way that governments had plundered and looted people through monetary expansion — that is, inflation of the paper-money supply. By printing up ever-increasing amounts of paper money to fund its operations, the government’s inflation of the money supply would cause the value of everyone’s money to fall. That decrease in value would be reflected in rising prices of the things that money would buy.

At the time the Constitution was being proposed, Americans themselves had just recently experienced the ravages of inflation with the paper money that the Revolutionary Congress had issued during the Revolution. The basic unit of money during that time was called the Continental. The Revolutionary Congress printed so many Continentals that the value of everyone’s money dropped to near zero. A popular refrain became “Not worth a Continental.”

Thus, the Framers wanted to come up with a monetary system that prevented government officials from debasing the value of people’s money. They knew that a paper-money system would not be likely to accomplish that goal. So, they came up with a system in which the official money of the country would be gold coins and silver coins. They knew that government officials could not print up vast quantities of gold coins and silver coins, like they could do with paper money.

The Constitution called into existence a government of limited powers. Its powers were limited to those powers that were enumerated in the Constitution. If a power wasn’t enumerated, it could not be exercised.

Thus, the Constitution granted the federal government the power to coin money. Obviously, paper cannot be coined. On the other hand, gold and silver can be coined.

During that time, paper money was known as “bills of credit.” The Constitution did not grant the federal government the power to issue “bills of credit” or paper money. Therefore, the federal government could not issue paper money. Since it was empowered only to coin money, the government issued gold coins and silver coins as the official money of the United States. That went on for more than 125 years.

Under the Constitution, the states were in a different position. They had the inherent powers of government that had characterized governments throughout history — the traditional “police powers” to provide for the health, safety, morals, and welfare of the people. However, there was an exception to such powers — if the Constitution prohibited the states from exercising a particular power, they were precluded from doing so.

That’s what the Constitution did with respect to the states’ monetary powers. States were expressly prohibited from issuing “bills of credit” or paper money. They were also expressly prohibited from making anything but gold and silver legal tender.

1907 $20 gold coin.

The Constitution also empowered the federal government to borrow money. That meant the government could issue bills, notes, and bonds. But even though the bills would oftentimes circulate in payment of goods and services, everyone understood that they were promises to pay money, not money itself. The money these instruments of indebtedness promised to pay was gold coins and silver coins, the official money that had been established by the Constitution.

The principle was the same with respect to bills, notes, and bonds issued by state governments. They were all promises to pay gold coins and silver coins, not paper money “backed by gold.”

This gold-coin/silver-coin monetary system turned out to be the finest monetary system in history, one in which the federal government did not plunder and loot people through inflation for more than 125 years.

The stability of this monetary system was one of the major contributing factors in the tremendous increase in the standard of living of the American people, especially by the time of the end of the 19th century and the early part of the 20th century.

It all came to an end in the 1930s, when the Franklin Roosevelt administration decreed an end to America’s gold-coin/silver-coin system and replaced it with an irredeemable paper-money system.

What was amazing is that FDR did this without even the semblance of a constitutional amendment and, just as bad, that the Supreme Court let him get away with it.

The result has been the same as it has been throughout history — the plundering and looting of people through monetary debasement.

Is the solution to implement a monetary system in which the dollar is “backed by gold”? No! As the Nobel Prize-winning libertarian economist Friedrich Hayek proposed, the solution is to separate money and the state. That means the repeal of legal-tender laws, the abolition of the Federal Reserve, and the end of all governmental involvement in money.

Let the free market decide the concept of money. The free market produces the best of everything. It would produce a monetary system that would be even better than the gold-coin/silver-coin system on which our nation was founded and which lasted for more than a century.

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

Important!

China’s silver takeover may aim to drain the West

Submitted by admin on Mon, 2024-08-26 17:28 Section: Daily Dispatches

By Tim Zyla
Jerusalem Post
Wednesday, August 21, 2024

While the world has been focused on the geopolitical tensions between China and the West, a more subtle battle has been unfolding in the global financial markets. 

China, through a series of calculated moves, has been quietly accumulating vast quantities of gold and silver. This move has signaled a potential shift in the global economic landscape and highlights the developing country’s need for exorbitant amounts of resources.

In addition to its gold hoarding, China has also been strategically increasing its silver reserves. 

The Shanghai Metals Exchange has seen a significant surge in silver trading volume, with prices consistently higher than those on Western exchanges. This suggests that China may be deliberately driving up the price of silver to drain the West’s resources. …

… For the remainder of the analysis:

https://www.jpost.com/business-and-innovation/precious-metals/article-815780

* * *

4. GOLD PODCASTS//LIVE FROM THE VAULT/

end

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

end

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED DOWN 6.79 PTS OR 0.24% //Hang Seng CLOSED UP 75.94 PTS OR 0.43% // Nikkei CLOSED UP 75.94 OR .43%//Australia’s all ordinaries CLOSED DOWN 0.17%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1266 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1273/ Oil UP TO 77.02 dollars per barrel for WTI and BRENT UP AT 81.04 Stocks in Europe OPENED ALL GREEN

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

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

ONSHORE YUAN:   CLOSED DOWN TO 7.1266

OFFSHORE YUAN: UP TO 7.1273

SHANGHAI CLOSED DOWN 6.79 PTS OR 0.24 %

HANG SENG CLOSED UP 75.94 PTS OR 0.43%

2. Nikkei closed UP 178.40 PTS OR .47%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  100.68 EURO RISES TO 1.1167 UP 3 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.869 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.67…… JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE COLLAPSING OF THE YEN CARRY TRADE AGAIN 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 DOWN /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: DOWN OFFSHORE:DOWN

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

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

3g Oil UP for WTI and UP FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD UP TO +2.2940/Italian 10 Yr bond yield UP to 3.671 SPAIN 10 YR BOND YIELD UP TO 3.108%

3i Greek 10 year bond yield UP TO 3.311

3j Gold at $2510.85//Silver at: 29.96  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 91/ 100  roubles/dollar; ROUBLE AT 90.99

3m oil into the 77 dollar handle for WTI and  81 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 144.67/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.889 % 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 0.8459 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9446 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: 3.857 UP 4 BASIS PTS…

USA 30 YR BOND YIELD: 4.139 UP 3 BASIS PTS/

USA 2 YR BOND YIELD:  4.043 UP 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.04…

10 YR UK BOND YIELD: 4.043 UP 10 PTS

10 YR CANADA BOND YIELD: 3.121 UP 6 BASIS PTS

2a New York OPENING REPORT

Futures Flat As Yields Jump, Traders Brace For Nvidia Earnings

TUESDAY, AUG 27, 2024 – 08:24 AM

Ahead of tomorrow’s Nvidia earnings fireworks, it’s another quiet session with most asset classes close to unchanged and US equity futures flat in a muted overnight session. As of 8:00am, S&P futures were unchanged after trading in a narrow range, and erasing modest earlier gains, while Nasdaq futures rose 0.1% with tech leading as NVDA/TSLA edge higher after lagging the Mag7 yesterday. Bond yields continued to rise amid a steeper curve, pushing the 10Y 3bps higher to 3.85%, while the USD is weaker and commodities are lower ex-base metals and natgas. Today’s macro data focus is on Consumer Confidence, Housing Price updates, and regional activity indicators. There is a 2Y bond auction.

In premarket trading, Paramount Global fell after Seagram’s heir Edgar Bronfman Jr. dropped out the acquisition contest for the CBS parent, with producer David Ellison’s Skydance Media set to become the new owner. Nvidia shares erased earlier gains and were last trading flat. Here are other notable premarket movers:

• Cava Group (CAVA) falls 8% after the Mediterranean restaurant chain’s largest individual shareholder and a group of executives filed to sell shares.
• Hershey (HSY) slips 1.7% after Citi downgraded the chocolate bar maker to sell, saying volume weakness and cocoa inflation presents a looming downside risk.
• JD.com (JD) gains 3% on plans to buy back as much as $5 billion of its shares in a move to appease investors worried about a potentially worsening Chinese consumer downturn.
• Leslie’s (LESL) rises 2% after the outdoor supplies and sporting goods retailer named Jason McDonell as CEO and reaffirmed its fiscal 2024 outlook.
• Eli Lilly & Co. (LLY) ticks 0.6% lower as the company is now selling Zepbound vials at 50% discount to popular shots.
• Paramount Global (PARA) drops 5% as Seagram Co. heir Edgar Bronfman Jr. dropped out of a bidding war for the media company.
• Trip.com (TCOM) jumps 8% after the Chinese online travel agency reported second-quarter revenue and earnings that beat estimates.

Slowly but surely, all eyes now turn to Nvidia, and arguably the most important earnings release of the quarter; the company has the second-biggest weighting in the S&P 500 after Apple but has far greater importance on the broader “AI narrative”, and its nosebleed valuation mean that it’s susceptible to big swings that could reverberate widely. As noted yesterday, pricing in the options market shows that traders see the potential for an almost 10% move in either direction after earnings, which would translate to roughly 160 points in the Nasdaq 100 Index, or a 0.8% move.

Nvidia’s “numbers will be good but what matters is the guidance in order to understand if the demand is still healthy,” said Alberto Tocchio, a portfolio manager at Kairos Partners. “If we get bad news, the rotation will be ever stronger as the market is still very heavy on the mega-cap.”

Investors will also hope the bull market will broaden out of big tech after fed Chair Jerome Powell signaled Friday the central bank will cut rates soon. Other policy makers echoed his dovish tone: Fed Bank of San Francisco President Mary Daly said it’s appropriate to begin cutting rates, while her Richmond counterpart Thomas Barkin said he still saw upside risks for inflation, though he supported “dialing down” policy. Economists see the core PCE index rising 0.2% in July for a second month. That would pull the three-month annualized rate of core inflation down to 2.1%, just above the central bank’s 2% goal.

“Of course, the central bank will emphasize that it has not yet made a decision and wrap that in the words ‘data dependent’,” said Volkmar Baur, a strategist at Commerzbank AG. “But 95 percent of what it needs to know for its September meeting should already be available.”

Europe’s Stoxx 600 Index rose 0.2% to their highest since mid-July amid low trading volumes, with declines for retailers offsetting gains for carmakers and miners. Major European markets are mostly higher with Italy/Spain leading and only SCXP in the red. Trading volumes were low, with activity on most European benchmarks about three-quarters of the average level from the past 30 days.   Associated British Foods declined as Deutsche Bank cut its rating on the stock to sell from hold. Ryanair led gains in European airline and travel stocks after CEO Michael O’Leary said a softening in fares experienced between April and June has levelled out. Bunzl Plc shares soared after the distribution group raised its full-year profit guidance. Here are some of the other biggest movers on Tuesday:

• Bunzl shares surge 12% to a record intraday high after the British distribution firm upgraded its 2024 margin guidance and announced a new share buyback program. Citi analysts say “strong” margin growth has been helped by acquisitions and a shift toward own brand penetration.
• Continental shares rise as much as 4.6% after the German auto parts maker gets upgraded to buy at UBS, which says that the proposed autos spin-off would unlock full potential in tires and the cash return story is not yet priced in.
• Accelleron gains as much as 4.9% after the Swiss engine parts maker reiterated its guidance and posted strong results boosted by the shipping sector, according to Vontobel.
• Harbour Energy shares jump as much as 8.4%, the most since May, after the UK oil and gas company said it had made “considerable progress” on its Wintershall Dea acquisition, which may be completed in early September, sooner than originally expected.
• Associated British Foods shares fall as much as 3.5% after the Primark owner is downgraded to sell from hold at Deutsche Bank, its first sell rating since April, according to data compiled by Bloomberg. The broker takes a more cautious view on the stock, saying that ABF’s profit recovery phase has come to an end.
• Zurich Airport shares fall as much as 6.9%, the most since 2021, after its first-half Ebitda missed analyst estimates due to higher costs. Stifel analysts also note the company slightly delayed the inauguration of its Noida airport in India.

Earlier in the session, Asian stocks fell, dragged down by major technology shares ahead of Nvidia’s earnings report on Wednesday, with disappointing results from Chinese e-commerce firm PDD also weighing on sentiment. The MSCI Asia Pacific Index dropped as much as 0.5% before paring some of the losses, with Alibaba and TSMC among the biggest drags. Shares fell in mainland China, Taiwan and South Korea. A gauge of Chinese tech names slid after PDD’s warning of slowing sales. Chip stocks followed US peers lower on renewed concerns over the sustainability of artificial intelligence demand ahead of Nvidia’s results and repositioning ahead of expected Federal Reserve rate cuts. The recent tech selloff had begun to ease, putting the Asian benchmark back on track for a fourth-straight monthly gain.

“Asian markets should benefit from the recent weakness in the US dollar,” said Gary Dugan, chief executive officer of the Global CIO Office. “A cut in interest rates should allow Asian countries to follow their own timely plans on rate cuts as their currencies will be under less pressure.”

In FX, the Bloomberg Dollar Spot Index is little changed; the pound is the best performer among the G-10 currencies, extending gains by 0.4% against the greenback to its highest since March 2022 as options show traders see upside risks for sterling into the September central bank meetings. The Japanese yen is the weakest, falling 0.2% to around 144.8 per dollar.

In rates, gilts led a selloff in European government bonds while Treasuries also fall. US 10-year yields rise 4bps to 3.85% as US trading day begins, trailing bigger declines in most European bond markets, as focus shifts to supply, pushing the 10Y yield 3bps higher to 3.85%. August’s last three Treasury coupon auctions begin with $69b 2-year note sale at 1pm New York time, and corporate bond supply historically has been heavy in early September. Yields are higher by 2bp-3bp with the curve steeper, 2s10s and 5s30s each by ~1bp; volume and liquidity “remain in summer mode,” Citi rates strategist Edward Acton says in a note. In Europe,

In commodities, oil prices decline, paring some of Monday’s rally, with WTI down to ~$76.70 a barrel. Spot gold falls $6 to around $2,511/oz.

Looking at today’s calendar, the US economic data calendar includes June FHFA house price index and S&P CoreLogic home price indexes (9am), August Conference Board consumer confidence gauges and Richmond Fed manufacturing index (10am) and August Dallas Fed services activity (10:30am)

Market Snapshot

• S&P 500 futures up 0.1% to 5,643.50
• STOXX Europe 600 up 0.3% to 519.81
• MXAP down 0.2% to 185.49
• MXAPJ down 0.3% to 575.85
• Nikkei up 0.5% to 38,288.62
• Topix up 0.7% to 2,680.80
• Hang Seng Index up 0.4% to 17,874.67
• Shanghai Composite down 0.2% to 2,848.73
• Sensex up 0.2% to 81,857.29
• Australia S&P/ASX 200 down 0.2% to 8,071.20
• Kospi down 0.3% to 2,689.25
• German 10Y yield up 2 bps at 2.27%
• Euro little changed at $1.1172
• Brent Futures down 0.3% to $81.21/bbl
• Gold spot down 0.3% to $2,510.49
• US Dollar Index little changed at 100.84

Top Overnight News

• Decision Desk HQ Presidential Forecast (8/26) Probabilities: Harris: 54.6%, Trump: 45.4%.
• Mark Zuckerberg said the Biden administration pressured Facebook to censor Covid-related posts in 2021 and that he regrets the decision to accede to the demands. BBG
• Republican Presidential Candidate Trump said he would like Tesla (TSLA) CEO Musk in Cabinet, but Musk is busy with his businesses; the time has come for a space national guard.
• Profits at China’s industrial companies rose at the fastest pace in five months in July, though weak domestic demand is calling into question whether their resilience can last. Industrial profits at large Chinese companies expanded 4.1% on year in July, after a 3.6% gain the previous month. BBG
• Chinese export controls on crucial semiconductor materials are hitting supply chains and stoking fears of shortfalls in western production of advanced chips and military optical hardware. FT
• German consumer sentiment has weakened once again, as a one-off boost from the European soccer championship in the country faded, compounding concerns that Europe’s largest economy will fail to mount a sustained recovery this year. WSJ
• The near-term risk of a broader war in the Middle East has eased somewhat after Israel and Lebanon’s Hezbollah exchanged fire without further escalation but Iran still poses a significant danger as it weighs a strike on Israel, America’s top general said on Monday (General CQ Brown). RTRS
• Goldman reduced its range for Brent prices by $5/bbl to $70-85, and the 2025 average Brent forecast to $77/bbl (vs. $82 prior), reflecting upside surprises to OECD inventories and a lower fair value estimate for long-dated prices. Cruically, the bank assumes that OPEC will raise production in Q4 as the market is potentially shifting from an equilibrium where OPEC supports spot balances and reduces volatility to a more long-run equilibrium focused on strategically disciplining non-OPEC supply and supporting cohesion: Goldman
• IPO outlook softens for the balance of 2024, as many companies defer plans to 2025 given potential volatility around the US election, Fed easing, etc. WSJ
• Apple named Kevan Parekh as CFO, replacing Luca Maestri. The company will hold its iPhone 16 launch event on Sept. 9. BBG
• Skydance is set to become the new owner of Paramount after Edgar Bronfman Jr. dropped out of the bidding. The studio expects to complete the deal in 2025. Bronfman pulled out partly because of the process’s tight deadline, a person familiar said. BBG
• Microsoft (MSFT) CEO Satya Nadella reported open market sale of 14,398 shares of Microsoft at an average price of USD 417.412/shr on Aug 23rd (vs Monday’s close of USD 413.49/shr), according to an SEC filing.
• Mexico lower house committee approves proposed judicial reform, paves way for final debate by early September, according to Reuters.
• UBS Global Wealth Management has increased odds of a US recession to 25% from 20%

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mostly lower following a mixed lead from Wall Street, which saw the tech sector lag ahead of NVIDIA earnings on Wednesday. News flow in APAC hours was quiet and catalysts light, with the overall tone of the market tentative. ASX 200 saw its early modest gains fade with the index trading flat throughout most of the APAC session, although BHP shares were lifted some 2% following earnings. Nikkei 225 opened in the red but gradually edged higher in tandem with the weakness in the JPY, with the index confined to a tight intraday range. Hang Seng and Shanghai Comp were both subdued for the entirety of the session, with the mainland overlooking an improvement in Industrial Profits, whilst Hong Kong saw its hefty losses in Alibaba and JD.com after Temu-owner PDD tumbled 28.5% after cautioning that its revenue growth will slow as competition continues to increase.

Top Asian News

• BHP (BHP AT) – FY (USD): Revenue USD 55.7bln (exp. 55.971bln). Underlying profit 13.66bln (exp. 13.49bln). Dividend 0.74, Co. expects volatility in the global commodity market in the near term.
• PBoC injected CNY 472.5bln via 7-day Reverse Repo at a maintained rate of 1.70%.
• Japanese gov’t to spend JPY 980bln to fund electricity/gas subsidies from the FY24/25 budgets reserves, via NHK.

European bourses, Stoxx 600 (+0.4%) are modestly firmer across the board, with indices slowly edging higher as the session  progressed. European sectors are mostly firmer; Basic Resources takes the top spot, benefiting from underlying strength in metals prices and after BHP earnings overnight. Retail is found near the foot of the pile. US Equity Futures (ES +0.1%, NQ +0.2%, RTY +0.2%) are modestly firmer across the board, continuing the optimism seen in early European trade. The docket for the remainder of the day is fairly thin, with focus on the Richmond Fed Index and Fed Discount Rate Minutes.

Top European News

• Macron Continues Premier Talks After Rejecting Leftist Pick
• European Stocks Gain With Focus on US Inflation, Nvidia Results
• Klarna CEO Invests in Elon Musk’s SpaceX Through Flat Capital
• Ryanair Doesn’t See Double-Digit Declines in 2Q Avg Fares: Rtrs

FX

• DXY is flat with the USD showing differing performance vs. peers. For now DXY is still unable to test 101.00 to the upside with the pre-Powell peak residing at 101.55.
• EUR is marginally firmer vs. the USD but ultimately unable to launch a retest of the 1.12 mark after briefly breaching the level yesterday. German GDP confirmed the bleak growth picture for the nation but ultimately failed to sway price action.
• Cable is back on a 1.32 handle after bottoming out around the 1.3180 mark yesterday and overnight. UK-specifics light.
• JPY is the marginal laggard across the majors in a mild extension of yesterday’s price action. 145.17 is the high thus far with the next level of note to the upside coming via the high from Friday at 146.48.
• Antipodeans are both marginally firmer vs. the USD with AUD/USD still holding below the 0.68 mark. Similar price action for NZD/USD with focus on whether it can eclipse Friday’s 0.6236 high which was the highest level since January.
• PBoC set USD/CNY mid-point at 7.1249 vs exp. 7.1245 (prev. 7.1132)
• Barclays passive month-end rebalancing model: weak USD selling against most majors and neutral against EUR and JPY.

Fixed Income

• USTs are under modest pressure but very much towards the top-end of the bullish-move that has been in-play since early-July. Docket ahead is devoid of Fed speak but does feature a handful of data points and then 2yr supply. At a 113-14+ WTD low, support comes into play at Friday’s 113-08+ and then Thursday’s 113-05+ base.
• Bunds are softer, and below the 134.00 mark which hadn’t been breached to the downside since August 8th; no real move to another set of poor German data, this time via GfK. Currently at the low-end of 133.92-134.28 bounds. Bunds were unmoved by the German Bobl auction.
• Gilts opened around 30 ticks below Friday’s 99.94 base, with the region catching up to Monday’s price action. Since, the benchmark has waned further in-line with broader fixed action and finds itself at a 99.38 trough.
• Italy sells EUR 2.5bln vs exp. EUR 2.0-2.5bln 3.10% 2026 BTP Short Term: b/c 1.54x (prev. 1.50x) & gross yield 2.89% (prev. 3.10%)
• Germany sells EUR 3.35bln vs exp. EUR 4.00bln 2.50% 2029 Bobl: b/c 2.2x (prev. 1.90x), average yield 2.17% (prev. 2.09%) & retention 16.25% (prev. 17.9%)

Commodities

• A softer start for the crude complex, with prices drifting away from the prior day’s best levels, sparked by Libya’s oilfield production halts. The complex continues to await an update from Cairo talks which were said to have begun late-Monday. Brent currently trading around USD 80.90/bbl with the magnitude of pressure increasing throughout the European morning.
• Spot gold is a touch softer with the narrative somewhat similar to that of crude as the lack of escalation means Monday’s haven premia is waning. Holding around yesterday’s USD 2508/oz base currently.
• Base metals are firmer as the LME returns from Monday’s Bank Holiday. However, upside thus far is modest in nature with 3M LME Copper only just above the USD 9.3k mark as the complex generally digests bearish commentary from BHP.
• Two oilfields in Southeast Libya have shut down whilst another has reduced production to its lowest capacity, according to engineers

Geopolitics: Middle East

• Top US general said the immediate risk of a broader war in the Middle East has eased somewhat after the Israel-Hezbollah clash, but Iran still poses significant danger as it weighs strike on Israel, according to Reuters.

Geopolitics: Ukraine

• Explosions were heard for the third time overnight in the Ukrainian capital Kyiv, according to Reuters.
• Russian Defence Ministry says Russia carried out high-precision weapon strike on Ukraine overnight, via Interfax

US Event Calendar

• 09:00: June S&P Case Shiller Composite-20 YoY, est. 6.14%, prior 6.81%
  • June S&P/Case Shiller 20 City MoM SA, est. 0.30%, prior 0.34%
  • June S&P/Case-Shiller US HPI YoY, prior 5.94%
  • June FHFA House Price Index MoM, est. 0.1%, prior 0%
• 10:00: Aug. Conf. Board Consumer Confidenc, est. 100.9, prior 100.3
  • Aug. Conf. Board Expectations, prior 78.2
  • Aug. Conf. Board Present Situation, prior 133.6
• 10:00: Aug. Richmond Fed Index est -14, prior -17,
• 10:30: Aug. Dallas Fed Services Activity, prior -0.1

2B) European report

Equities gain, DXY flat & GBP bid whilst crude is on the backfoot – Newsquawk US Market Open

Tuesday, Aug 27, 2024 – 05:58 AM

• Equities are modestly firmer across the board, despite a mostly lower APAC session overnight
• Dollar is flat, GBP outperforms with Cable back above 1.32, JPY is lower
• Bonds hold a bearish bias, with Bunds unreactive to the poor German GDP/GfK metrics
• Crude is on the back foot, XAU is slightly softer and base metals gain
• Looking ahead, US Richmond Fed, NBH Policy Announcement, Fed Discount Rate Minutes, and Supply from the US

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.4%) are modestly firmer across the board, with indices slowly edging higher as the session progressed.
• European sectors are mostly firmer; Basic Resources takes the top spot, benefiting from underlying strength in metals prices and after BHP earnings overnight. Retail is found near the foot of the pile.
• US Equity Futures (ES +0.1%, NQ +0.2%, RTY +0.2%) are modestly firmer across the board, continuing the optimism seen in early European trade. The docket for the remainder of the day is fairly thin, with focus on the Richmond Fed Index and Fed Discount Rate Minutes.
• 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 USD showing differing performance vs. peers. For now DXY is still unable to test 101.00 to the upside with the pre-Powell peak residing at 101.55.
• EUR is marginally firmer vs. the USD but ultimately unable to launch a retest of the 1.12 mark after briefly breaching the level yesterday. German GDP confirmed the bleak growth picture for the nation but ultimately failed to sway price action.
• Cable is back on a 1.32 handle after bottoming out around the 1.3180 mark yesterday and overnight. UK-specifics light.
• JPY is the marginal laggard across the majors in a mild extension of yesterday’s price action. 145.17 is the high thus far with the next level of note to the upside coming via the high from Friday at 146.48.
• Antipodeans are both marginally firmer vs. the USD with AUD/USD still holding below the 0.68 mark. Similar price action for NZD/USD with focus on whether it can eclipse Friday’s 0.6236 high which was the highest level since January.
• PBoC set USD/CNY mid-point at 7.1249 vs exp. 7.1245 (prev. 7.1132)
• Barclays passive month-end rebalancing model: weak USD selling against most majors and neutral against EUR and JPY.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are under modest pressure but very much towards the top-end of the bullish-move that has been in-play since early-July. Docket ahead is devoid of Fed speak but does feature a handful of data points and then 2yr supply. At a 113-14+ WTD low, support comes into play at Friday’s 113-08+ and then Thursday’s 113-05+ base.
• Bunds are softer, and below the 134.00 mark which hadn’t been breached to the downside since August 8th; no real move to another set of poor German data, this time via GfK. Currently at the low-end of 133.92-134.28 bounds. Bunds were unmoved by the German Bobl auction.
• Gilts opened around 30 ticks below Friday’s 99.94 base, with the region catching up to Monday’s price action. Since, the benchmark has waned further in-line with broader fixed action and finds itself at a 99.38 trough.
• Italy sells EUR 2.5bln vs exp. EUR 2.0-2.5bln 3.10% 2026 BTP Short Term: b/c 1.54x (prev. 1.50x) & gross yield 2.89% (prev. 3.10%)
• Germany sells EUR 3.35bln vs exp. EUR 4.00bln 2.50% 2029 Bobl: b/c 2.2x (prev. 1.90x), average yield 2.17% (prev. 2.09%) & retention 16.25% (prev. 17.9%)
• Click for a detailed summary

COMMODITIES

• A softer start for the crude complex, with prices drifting away from the prior day’s best levels, sparked by Libya’s oilfield production halts. The complex continues to await an update from Cairo talks which were said to have begun late-Monday. Brent currently trading around USD 80.90/bbl with the magnitude of pressure increasing throughout the European morning.
• Spot gold is a touch softer with the narrative somewhat similar to that of crude as the lack of escalation means Monday’s haven premia is waning. Holding around yesterday’s USD 2508/oz base currently.
• Base metals are firmer as the LME returns from Monday’s Bank Holiday. However, upside thus far is modest in nature with 3M LME Copper only just above the USD 9.3k mark as the complex generally digests bearish commentary from BHP.
• Two oilfields in Southeast Libya have shut down whilst another has reduced production to its lowest capacity, according to engineers
• Click for a detailed summary

NOTABLE DATA RECAP

• UK BRC Shop Price Index (Aug) Y/Y -0.3% (Prev. +0.2%); BRC CEO said “Shop prices fell into deflation for the first time in nearly three years. This was driven by non-food deflation, with retailers discounting heavily to shift their summer stock, particularly for fashion and household goods.”
• German GDP Detailed QQ SA (Q2) -0.1% vs. Exp. -0.1% (Prev. -0.1%); YY 0.0% vs. Exp. -0.1% (Prev. -0.1%)
• German GDP Detailed YY NSA (Q2) 0.3% vs. Exp. 0.3% (Prev. 0.3%)
• Swedish PPI YY (Jul) -0.1% (Prev. 0.8%); MM -1.4% (Prev. -0.4%)

NOTABLE US HEADLINES

• Apple (AAPL) announced Kevan Parekh as new CFO; to succeed Luca Maestri effective January 1st 2025.
• Apple (AAPL) announced an iPhone event for September 9th, via CNBC.
• Microsoft (MSFT) CEO Satya Nadella reported open market sale of 14,398 shares of Microsoft at an average price of USD 417.412/shr on Aug 23rd (vs Monday’s close of USD 413.49/shr), according to an SEC filing.
• Decision Desk HQ Presidential Forecast (8/26) Probabilities: Harris: 54.6%, Trump: 45.4%.
• Republican Presidential Candidate Trump said he would like Tesla (TSLA) CEO Musk in Cabinet, but Musk is busy with his businesses; the time has come for a space national guard.
• Mexico lower house committee approves proposed judicial reform, paves way for final debate by early September, according to Reuters.
• UBS Global Wealth Management has increased odds of a US recession to 25% from 20%

GEOPOLITICS

MIDDLE EAST

• Top US general said the immediate risk of a broader war in the Middle East has eased somewhat after the Israel-Hezbollah clash, but Iran still poses significant danger as it weighs strike on Israel, according to Reuters.

RUSSIA-UKRAINE

• Explosions were heard for the third time overnight in the Ukrainian capital Kyiv, according to Reuters.
• Russian Defence Ministry says Russia carried out high-precision weapon strike on Ukraine overnight, via Interfax

CRYPTO

• Bitcoin is slightly softer and holds beneath USD 63k, whilst Ethereum holds around USD 2.6k.

APAC TRADE

• APAC stocks traded mostly lower following a mixed lead from Wall Street, which saw the tech sector lag ahead of NVIDIA earnings on Wednesday. News flow in APAC hours was quiet and catalysts light, with the overall tone of the market tentative.
• ASX 200 saw its early modest gains fade with the index trading flat throughout most of the APAC session, although BHP shares were lifted some 2% following earnings.
• Nikkei 225 opened in the red but gradually edged higher in tandem with the weakness in the JPY, with the index confined to a tight intraday range.
• Hang Seng and Shanghai Comp were both subdued for the entirety of the session, with the mainland overlooking an improvement in Industrial Profits, whilst Hong Kong saw its hefty losses in Alibaba and JD.com after Temu-owner PDD tumbled 28.5% after cautioning that its revenue growth will slow as competition continues to increase.

NOTABLE ASIA-PAC HEADLINES

• BHP (BHP AT) – FY (USD): Revenue USD 55.7bln (exp. 55.971bln). Underlying profit 13.66bln (exp. 13.49bln). Dividend 0.74, Co. expects volatility in the global commodity market in the near term.
• PBoC injected CNY 472.5bln via 7-day Reverse Repo at a maintained rate of 1.70%.
• Japanese gov’t to spend JPY 980bln to fund electricity/gas subsidies from the FY24/25 budgets reserves, via NHK.

DATA RECAP

• Chinese Industrial Profits YY (Jul) 4.1% (Prev. 3.6%); YTD 3.6% (Prev. 3.5%)
• Japanese Services PPI YY (Aug) 2.8% vs Exp. 2.9% (Prev. 3.0%)

2C) ASIAN REPORT

Tech lagged ahead of NVDA on Wednesday, DXY rangebound & JPY softer – Newsquawk Europe Market Open

Tuesday, Aug 27, 2024 – 01:26 AM

• APAC stocks traded mostly lower in quiet newsflow following a mixed lead from Wall Street, which saw the tech sector lag ahead of NVIDIA earnings on Wednesday.
• DXY traded in a tight range with a mild upward bias. JPY lagged on yield differentials whilst EUR and GBP were flat and Antipodeans rebounded.
• Microsoft (MSFT) CEO Satya Nadella sold 14,398 shares of Microsoft at an average price of USD 417.412/shr on Aug 23rd; Apple (AAPL) named Kevan Parekh as its new CFO.
• European equity futures are indicative of a slightly firmer open with the Euro Stoxx 50 future +0.1% after cash closed with losses of 0.3% on Monday.
• Looking ahead, highlights include German GDP (Detailed), German GfK, US Richmond Fed, NBH Policy Announcement, Fed Discount Rate Minutes, and Supply from Italy, Germany, and the US.

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US TRADE

EQUITIES

• US stocks ultimately closed mixed. The downside was mostly felt in the Nasdaq – with Tech, Consumer Discretionary and Health Care sectors underperforming, while Energy, Consumer Staples and Utilities outperformed.
• A bulk of the tech downside stemmed from weakness in Semiconductors shares with SOXX -2% as all eyes turn to NVIDIA (NVDA) earnings on Wednesday.
• SPX -0.31% at 5,616, NDX -1.04% at 19,516, DJIA +0.16% at 41,240, RUT +0.16% at 2,222.
• Click here for a detailed summary

NOTABLE HEADLINES

• Fed’s Daly (2024 voter) said the Fed had been on a path to lower the policy rate for a couple of months but they just needed a bit more confidence inflation was returning to target. She added the labour market is in complete balance, time to adjust policy is upon us, whilst she is not hearing signs that firms are poised for layoffs. She noted the direction of rates is down, but it is too early to know how big rate cuts will be, and she does not want to declare they are on the path to neutral.
• Apple (AAPL) announced Kevan Parekh as new CFO; to succeed Luca Maestri effective January 1st 2025.
• Apple (AAPL) announced an iPhone event for September 9th, via CNBC.
• Microsoft (MSFT) CEO Satya Nadella reported open market sale of 14,398 shares of Microsoft at an average price of USD 417.412/shr on Aug 23rd (vs Monday’s close of USD 413.49/shr), according to an SEC filing.
• Decision Desk HQ Presidential Forecast (8/26) Probabilities: Harris: 54.6%, Trump: 45.4%.
• Republican Presidential Candidate Trump said he would like Tesla (TSLA) CEO Musk in Cabinet, but Musk is busy with his businesses; the time has come for a space national guard.

APAC TRADE

EQUITIES

• APAC stocks traded mostly lower following a mixed lead from Wall Street, which saw the tech sector lag ahead of NVIDIA earnings on Wednesday. News flow in APAC hours was quiet and catalysts light, with the overall tone of the market tentative.
• ASX 200 saw its early modest gains fade with the index trading flat throughout most of the APAC session, although BHP shares were lifted some 2% following earnings.
• Nikkei 225 opened in the red but gradually edged higher in tandem with the weakness in the JPY, with the index confined to a tight intraday range.
• Hang Seng and Shanghai Comp were both subdued for the entirety of the session, with the mainland overlooking an improvement in Industrial Profits, whilst Hong Kong saw its hefty losses in Alibaba and JD.com after Temu-owner PDD tumbled 28.5% after cautioning that its revenue growth will slow as competition continues to increase.
• US equity futures traded on either side of the unchanged mark for most of the session, although the ES and NQ saw a modest dip following news that the Microsoft CEO filed to sell some shares on August 23rd, albeit at a higher price than Monday’s close. Add to that, Apple’s CFO replacement prompted some after-market losses in shares
• European equity futures are indicative of a slightly firmer open with the Euro Stoxx 50 future +0.1% after cash closed with losses of 0.3% on Monday.

FX

• DXY traded in a tight range with a mild upward bias. DXY hit an APAC high of 100.93 (vs Monday’s high of 100.92). The next upside level is still some way off – the pre-Powell peak at 101.55.
• EUR/USD was flat intraday following the prior day’s mild losses. EUR/USD remained in a very tight 1.1160-72 range vs yesterday’s 1.1150-1.1201 parameter.
• GBP/USD was uneventful and moved in tandem with the Dollar to trade in a 1.3181-1.3202 band, with UK players set to return from their long weekend.
• JPY stood as the G10 underperformer despite a lack of fresh catalysts but APAC traders reacted to the pullback in US bonds on Monday. USD/JPY traded in a 144.21-97 range after topping yesterday’s high (144.65) with the next upside level after 145.00 being Friday’s peak (146.48).
• Antipodeans were choppy and rebounded alongside base metals following the Chinese Industrial Profits metrics.
• PBoC set USD/CNY mid-point at 7.1249 vs exp. 7.1245 (prev. 7.1132)

FIXED INCOME

• 10-year UST futures moved sideways for most of the session following Monday’s choppiness in which IFR highlighted that a chunky 10-year October put buyer was a factor behind the late selling, with market makers having to sell September 10-year futures as a hedge – ultimately facilitating a lower futures settlement on Monday. Traders look ahead to the US 2-year Note auction later.
• Bund futures were subdued and caught up to the losses on Wall Street whilst European traders look ahead to German GfK Consumer Sentiment ahead of a 2029 Bobl auction.
• 10-year JGB futures were softer with price action in-fitting with the performance seen across US bonds with newsflow on the quieter side.

COMMODITIES

• Crude futures were in consolidation-mode following the prior day’s gains, which were spurred amid reports of a production halt in Libya and after Israel and Hezbollah traded a barrage of strikes over the weekend.
• Spot gold gradually edged lower throughout the session as the DXY recouped more ground and amidst a distinct lack of major geopolitical updates despite the tense environment.
• Copper futures eventually saw modest gains whilst LME trading resumed after the long weekend and despite the net bearish market commentary offered by BHP alongside their earnings.
• US seeks about 3.6mln of oil to help replenish SPR for delivery in January through March next year, according to Reuters.
• Shell (SHEL LN) plans to shut in different portions of the Zydeco pipeline from Houston-Houma Port Neches for three to four days starting September 24th for maintenance, according to Reuters.

CRYPTO

• Bitcoin traded on either side of USD 63k in uneventful trade.

NOTABLE ASIA-PAC HEADLINES

• BHP (BHP AT) – FY (USD): Revenue USD 55.7bln (exp. 55.971bln). Underlying profit 13.66bln (exp. 13.49bln). Dividend 0.74, Co. expects volatility in the global commodity market in the near term.
• PBoC injected CNY 472.5bln via 7-day Reverse Repo at a maintained rate of 1.70%.

DATA RECAP

• Chinese Industrial Profits YY (Jul) 4.1% (Prev. 3.6%); YTD 3.6% (Prev. 3.5%)
• Japanese Services PPI YY (Aug) 2.8% vs Exp. 2.9% (Prev. 3.0%)

GEOPOLITICS

MIDDLE EAST

• White House said negotiators were meeting on Monday in Cairo for talks on Gaza ceasefire. US expects working group talks to continue at least for the next few days, according to Reuters.
• White House said it has to assume Iran remains postured and prepared to attack Israel, according to Reuters.
• Top US general said the immediate risk of a broader war in the Middle East has eased somewhat after the Israel-Hezbollah clash, but Iran still poses significant danger as it weighs strike on Israel, according to Reuters.

RUSSIA-UKRAINE

• Explosions were heard for the third time overnight in the Ukrainian capital Kyiv, according to Reuters.

EU/UK

NOTABLE HEADLINES

• UK BRC Shop Price Index (Aug) Y/Y -0.3% (Prev. +0.2%); BRC CEO said “Shop prices fell into deflation for the first time in nearly three years. This was driven by non-food deflation, with retailers discounting heavily to shift their summer stock, particularly for fashion and household goods.”

LATAM

• Mexico lower house committee approves proposed judicial reform, paves way for final debate by early September, according to Reuters.

To download the report, please click here If you would like to subscribe to receive the research sheets directly in your inbox, you can now do so under the Research Suite section of the portal. To subscribe simply check the box next to “Email these reports” under the desired category. 

2D JAPAN

3 CHINA

CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

GERMANY

HUNGARY/BRUSSELS

FRANCE

end

FRANCE

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/HAMAS/

Top US general says risk of broader war ‘somewhat’ abated after Israel-Hezbollah clash

By Reuters and ToI StaffToday, 3:22 a

US Chairman of the Joint Chiefs of Staff, Air Force Gen. Charles Q. Brown Jr., speaks during a press briefing at the Pentagon in Washington, DC, on July 25, 2024. (Saul Loeb/AFP)

The near-term risk of a broader war in the Middle East has eased somewhat after Israel and Lebanon’s Hezbollah exchanged fire without further escalation but Iran still poses a significant danger as it weighs a strike on Israel, America’s top general says.

Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, speaks to Reuters after emerging from a three-day trip to the Middle East that saw him fly into Israel just hours after Hezbollah launched hundreds of rockets and drones at Israel, and the IDF said it struck hundreds of Hezbollah rocket launchers in Lebanon to thwart a larger attack. It was one of the biggest clashes in more than 10 months since Hezbollah began attacking northern Israel following Hamas’s October 7 onslaught, but it also ended with limited damage in Israel and without immediate threats of more retaliation from either side.

Brown notes Hezbollah’s strike was just one of two major threatened attacks against Israel that emerged in recent weeks. Iran is also threatening an attack over the killing of a Hamas leader in Tehran last month.

Asked if the immediate risk of a regional war had declined, Brown says: “Somewhat, yes.”

“You had two things you knew were going to happen. One’s already happened. Now it depends on how the second is going to play out,” Brown says while flying out of Israel.

“How Iran responds will dictate how Israel responds, which will dictate whether there is going to be a broader conflict or not.”

Brown also cautions that there is also the risk posed by Iran’s militant allies in places such as Iraq, Syria and Jordan who have attacked US troops as well as Yemen’s Houthis, who have targeted Red Sea shipping and even fired drones at Israel.

“And do these others actually go off and do things on their own because they’re not satisfied – the Houthis in particular,” Brown says, calling the Shia group the “wild card.”

END

ISRAEL HAMAS

IDF eliminates more than 10 terrorists in airstrikes in central, southern Gaza

By AMIR BOHBOTAUGUST 27, 2024 06:30Updated: AUGUST 27, 2024 06:33

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-816543&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240826_05e6a52f2ff2bcc33dc7ca8b5e76cc93895f9a4b&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF conducted airstrikes on Hamas headquarters in central and southern Gaza, and eliminated over 10 terrorists, the military announced on Tuesday morning.

END

ISRAEL/WEST BANK

Reports says Arab-Israeli shot dead by IDF troops in West Bank village

Today, 9:09

Khalil Ziadeh, an Arab-Israeli, is named by Hebrew media reports as the Palestinian shot dead by members of the IDF’s so-called area defense force in the West Bank village of Wadi Rahhal overnight, while Palestinian media identified him as Khalil Salem Khalawi, 37.

According to the Ynet news site, Ziadeh, 40, was originally an East Jerusalem resident who was currently living in Wadi Rahhal, the Ynet news site reports. Three other Palestinians were hurt in the clash.

According to Ynet, soldiers were deployed to the area after receiving reports rocks were being thrown at an Israeli vehicle. Settlers also arrived at the village and clashed with Palestinians.

The Palestinian Authority health ministry said earlier that casualties were the result of “settlers’ gunfire” in the village.

There was no immediate comment from Israeli authorities. The Israel Defense Forces, as of Tuesday morning, said it was still looking into the incident.

The martyr Khalil Ziada, who was shot dead by settler gangs tonight near Wadi Rahal in the #Bethlehem Governorate.

7:28 PM · Aug 26, 2024

·

92 Views

Emanuel Fabian contributed to this report.

More from today’s Liveblog:

• As West Nile virus spreads, Environmental Protection Ministry orders authorities to step up pest control efforts
• Rocket siren in Manara was false alarm
• Hostage families block Ayalon Highway: ‘Netanyahu is burying the hostages’

END

QATAR

How Qatar is spreading chaos throughout the Middle East. They are the sponsors of anti-Semitism

(zerohedge)

How Qatar Spreads Chaos In The Middle East And Fuels Radical Islam In Europe

Tuesday, Aug 27, 2024 – 02:00 AM

Authored by Adam Starzynski via ReMix,

People who have been following international news closely in recent years might have noticed that Qatar keeps appearing in the headlines and clearly punches well above its weight in world affairs for a country with only 300,000 citizens. 

Lately, Qatar has been in the spotlight for housing the Hamas leadership while at the same time playing the role of the main negotiator, together with Egypt, for a ceasefire between Israel and Hamas. Qatar also served as a safe haven for the Taliban for many years, and in 2020, facilitated a peace agreement between the United States and the Islamist group.

In between, Doha has also managed to organize the World Cup in football and was behind the largest corruption scandal in the history of the European Parliament, known as “Qatargate.”

However, Qatar’s main influence operation is its decades-long campaign to sponsor the spread of radical Islamist movements and mosques in the Middle East and Europe. Apart from sponsoring the construction of huge mosques and associations, Qatar is running an advanced media and PR campaign, creating fertile ground for these foreign Islamist movements to take root in their new countries.

We all know about the violent Jihadist organizations such as al-Qaida, ISIS and Hamas. However, most people know very little about the most influential Islamist organization, the Muslim Brotherhood. 

Even fewer know that it has a patron state, and one that is broadcasting Muslim Brotherhood propaganda to hundreds of millions of homes across the world.

Qatar has been using the immense wealth it has accumulated through its oil and gas to turn Al Jazeera into an international media conglomerate, spreading Muslim Brotherhood propaganda on a global scale.

In order to fully comprehend the role played by this prominent Islamist organization, it is necessary to take a closer look at its roots. 

The Muslim Brotherhood is strongly linked to three players: Egypt, Palestine and Qatar. It was founded in Egypt in 1928 by the cleric Hassan al-Banna as a reaction to how weak the Muslim world had become in relation to the West since the Enlightenment and the Industrial Revolution. Al-Banna and other Muslim Islamists and modernists argued that the Muslim community was weak due to having become corrupted over the centuries and had to go back to practicing the pure Islam of Mohammed and the first Caliphs. 

The movement spread like wildfire in Egypt and one of its most notable early accomplishments was its involvement in the Arab revolt in Palestine, which lasted from 1936 to 1939. The revolt failed, but the Brotherhood succeeded in making the issue of Palestine a widespread Muslim concern. After the Second World War, they lobbied for granting asylum in Egypt to Amin al-Husseini, the Mufti of Jerusalem, who had collaborated with Nazi Germany during the war.

After the 1952 military coup against the Egyptian monarchy, the military started treating the Brotherhood as a rival and a threat to their rule. Due to increasing pressure, many of their most important ideological leaders were forced to move to Saudi Arabia and Qatar. Yusuf al-Qaradawi was the most important of these leaders. He was sent from the Al-Azhar University in Cairo in 1962 to head the Qatari Secondary Institute of Religious Studies. In 1977, he laid the foundation for the faculty dedicated to Shariah and Islamic Studies at the University of Qatar. Later, he became the host of a show on Al-Jazeera called “Sharia and Life” which had a viewership of around 80 million per episode, making him one of the most influential Muslim voices in the world.

The royal family of Qatar, the House of Al-Thani, has since been using the Muslim Brotherhood as a tool to minimize political opposition against them. In exchange for allowing the Brotherhood to use the country as a base for its international operations, the Brotherhood makes sure that there is no political threat based on organized religion against the Qatari monarchy.

Unfortunately, other countries are on the losing side of this deal. Qatar, Al-Jazeera and the Brotherhood cooperated in bringing the Muslim Brotherhood briefly into power in Egypt in 2011 and have sowed Islamist chaos throughout the Middle East since the Arab Spring, which started in 2011. It went so far that Saudi Arabia, the UAE, Bahrain, Egypt, and Jordan cut ties with Qatar in 2017 and started a blockade against the country.

Countries in Europe have also suffered, with Qatar being the main sponsor of mosques in which Brotherhood propaganda is taught and spread. In these same mosques, many Muslims have become radicalized and some are even convinced to join violent Jihadist organizations. Much of the money comes from the Qatar Charity, which has provided funding for at least 140 mosques, cultural centers, and Islamic schools in Europe. One of the most famous examples is the mega-mosque in Poitiers, which sits in the vicinity of the site of the Battle of Tours and Battle of Poitiers where Charles Martel, ruler of the Franks, stopped the advancing Muslim army of Abdul al-Rahman in the year of 732. 

Today, the largest Muslim umbrella group in Europe is the Council of European Muslims, formerly known as the Federation of Islamic Organizations in Europe (FIOE), and is widely seen as a front organization of the Muslim Brotherhood in Europe. In 1997, it created the European Council for Fatwa and Research (ECFR), a private foundation composed of Islamic clerics and scholars that issues fatwas for Muslims living in Europe, with the intention of dictating to them how they must live their lives.

It is worth asking who presided over this influential organization for the past decades. The answer? Yusuf al-Qaradawi, who operated from his headquarters in Qatar until his death in 2022. 

The growth of radical Islam in Europe has been accelerating for the past 50 years. When will Qatar, Al Jazeera, the Muslim Brotherhood, the Council of European Muslims and the ECFR meet their “Poitiers” on the European continent?

END

ISRAEL/HAMAS

Hostage rescued by IDF from tunnel in south Gaza after 10 months of Hamas captivity BY EMANUEL FABIAN Farhan al-Qadi, 52, a father of 11, was found by special forces in ‘brave and complex’ operation, army says, declining to reveal further details of the raid

LIVE UPDATESLIVE: Hospital says rescued hostage in ‘good condition’ as joyous family members flood bedside BY TOI STAFFPM says working to return remaining hostages ‘in two main ways: negotiations and rescue operations’ * Hamas calls on Palestinians to escalate violence and ‘confront settlers by all means’

END

IDF Rescues Hostage, Father Of 11, In Daring Gaza Tunnel Raid

Tuesday, Aug 27, 2024 – 03:25 PM

Israel’s military has announced another big breakthrough operation on Tuesday, after a small handful of prior hostage recoveries. An Israeli Bedouin man has been recovered alive after spending more than ten months in Hamas captivity.

52-year old Qaid Farhan Alkadi is a father of eleven and has been returned safely following a “complex mission” by Israeli commandos which took them deep underground. 

Israel Defense Forces (IDF) spokesman Rear Adm. Daniel Hagari confirmed in a press conference that “He is alive and back home in Israel.”

Alkadi had been taken hostage on Oct.7 while working as a private security guard at Kibbutz Magen in southern Israel. Hamas and Palestinian Islamic Jihad (PIJ) had overrun several civilian communities while also attacking border bases during the attack which has been widely dubbed “Israel’s 9/11” – leaving mass slaughter in their wake.

The IDF and the Shin Bet national security agency said they are withholding details of the raid “due to considerations of the safety of our hostages, the security of our forces, and national security.” However an IDF briefing revealed the following:

“This morning, Shayetet 13 troops, the Yahalom unit, and the Shin Bet, rescued Farhan alive from a tunnel in southern Gaza,” he said in a press conference. “The troops reached the area thanks to precise intelligence,” Hagari added

Hagari denied rumors that al-Qadi managed to escape the tunnel in which he was held, saying that troops “rescued Farhan from underground, he met our forces underground.”

Al-Qadi was not discovered by Israeli special forces “by chance” as some reports described, although there was no pre-planned operation to specifically rescue him, military sources said.

The agencies revealed that Alkadi is in stable medical condition after undergoing thorough evaluation in a regional hospital. Israel’s Ministry of Foreign Affairs shared video on X showing the rescued man being rushed by his joyful family members upon his return.

Israeli Prime Minister Benjamin Netanyahu, who has been facing pushback from hostage victims’ families amid stalled efforts to achieve a ceasefire, is hailing it as a win for IDF forces and for his government’s Gaza policy. He has argued staying the course militarily until Hamas is eradicated, but opposition leaders have demanded that a ceasefire and hostage exchange deal should be prioritized.

Body cam footage from the latter part of the daring rescue operation…

New body cam video from Qaid Farhan Alkadi's rescue today in the southern Gaza Strip pic.twitter.com/LxGtJFpCCH

— Brian BJ (@iamBrianBJ) August 27, 2024

“The Prime Minister congratulated Farhan and told him that the entire Israeli people are excited by his release,” a statement said, and added that the prime minister “clarified in the conversation that he will continue to do everything to return all our abductees home.”

Defense Minister Yoav Gallant also hailed that the operation “joins a series of actions taken by the IDF that bring us closer to achieving the goals of this war.” He stressed that “Israel is committed to taking advantage of every opportunity to return the hostages home.”

END

end

RUSSIA/UKRAINE/

Ukrainian Commanders Blame Poorly Trained Soldiers for Donbas Losses: ‘Panic & Chaos’

Tuesday, Aug 27, 2024 – 03:30 AM

Authored by Kyle Anzalone via The Libertarian Institute,

As Kiev attempts to bask in triumph over its territorial gains inside of Russia, its forces are losing territory along the Eastern front lines in Ukraine. Ukrainian military commanders say the reason for the losses is poorly trained soldiers; many are even afraid to fire their weapons. 

Speaking with the Associated Press, a battalion commander in Ukraine’s 47th Brigade said, “Some people don’t want to shoot. They see the enemy in the firing position in trenches but don’t open fire. … That is why our men are dying. When they don’t use the weapon, they are ineffective.”

After pushing Kiev to forego a diplomatic settlement with Moscow in April 2022, Western leaders pledged that they would arm, equip, and train Ukrainian soldiers to fight off the Russian invaders.

However, two and a half years into the conflict, it has turned into a war of attrition, and Kiev’s backers are struggling to sustain Ukraine’s military amid massive losses. 

While Kiev has not made an official statement regarding its casualties, they are estimated to be well into the hundreds of thousands. Support for the war has also been dipped in Ukraine, leading Kiev to draft more Ukrainians, including increasingly younger citizens, into the military. 

Many of the recruits and conscripts receive training in NATO countries, but their commanders say they are not performing routine operations.

“From the command point, I would like to issue orders to small (infantry) groups, but I am not sure if they are capable of executing these orders because they lack coordination and communication,” the officer told the AP. “Sometimes, I want to shoot myself.”

One soldier said the lack of experience is leading to territorial losses. “The main problem is the survival instinct of newcomers. Before, people could stand until the last moment to hold the position. Now, even when there is light shelling of firing positions, they are retreating,” said one soldier. 

@TheStudyofWar

NEW: Russian milbloggers claimed that Russian forces recently regained lost positions in Kursk Oblast amid reports of continued Ukrainian attacks in the area on Aug. 25. Russian forces recently advanced near and within Toretsk and southwest of Donetsk City. More key takeaways

8:09 PM · Aug 25, 2024

·

279K Views

“This fear creates panic and chaos,” said the battalion commander in the 47th Brigade. “This is also the reason we have lost.”

END

RUSSIA//

END

UKRAINE/RUSSIA/BELARUS

Ukraine Might Be Gearing Up To Attack Or Cut Off Belarus’ Southeastern City Of Gomel

Tuesday, Aug 27, 2024 – 05:00 AM

Authored by Andrew Korybko via Substack,

Its Foreign Ministry’s ominously implied ultimatum to Minsk and reaffirmation of Ukraine’s right to self-defense suggest that Kiev might invade Belarus’ Gomel Region and/or Russia’s Bryansk Region.

The Ukrainian Foreign Ministry released a statement on Sunday warning about what it described as the “threat” posed by Belarus’ military buildup along the border, the motivations of which were analyzed here in early August. Belarusian President Lukashenko also drew attention last week to the whopping 120,000 Ukrainian troops that he claims were the first to deploy there. For reference, Belarus only has around 65,000 active soldiers, one-third of whom are stationed along the Ukrainian border.

Less than a week ago, a small Ukrainian force unsuccessfully tried to invade a tiny village in Russia’s Bryansk Region that’s only 30 kilometers from the Belarusian border. It was likely a probing attempt in hindsight, but any Kursk-like invasion along that front could risk impeding or even cutting off Russia’s military logistics to Belarus’ southeastern city of Gomel. That’s because there’s a nearby highway running between there and Bryansk’s eponymous capital just 30-50 kilometers inside of Russia from the border.

Ukraine might be gearing up to either attack Gomel (which is just 30 kilometers from the border) or at least threaten Russia’s military logistics to there from Bryansk judging by its Foreign Ministry’s statement, which the “Kyiv Independent” noted was the first about Belarus since last September. They ominously implied an ultimatum by writing that “we urge its armed forces to cease unfriendly actions and withdraw forces away from Ukraine’s state border to a distance greater than the firing range of Belarus’ systems.”

This was backed up by them reminding Belarus that “We warn that in case of a violation of Ukraine’s state border by Belarus, our state will take all necessary measures to exercise the right to self-defense guaranteed by the UN Charter. Consequently, all troop concentrations, military facilities, and supply routes in Belarus will become legitimate targets for the Armed Forces of Ukraine.”

The stage is therefore set for opening up another front on this false pretext if Kiev has the political will to do so.

There are arguments for and against the five most likely scenarios.

The first one is that Ukraine doesn’t invade either Gomel or Bryansk Regions, instead remaining content to continue sending drones across the former’s border and possibly continuing to carry out small-scale raids in the second.

The advantage is that Ukraine wouldn’t further extend itself, but the disadvantage is that also wouldn’t further extend its adversaries either. This is the least risky scenario of the five.

As for the second scenario, Ukraine might provoke Belarus into initiating conventional hostilities or orchestrate a false flag to that end.

Either could pressure the West into conventionally intervening like Italy’s La Repubblica newspaper reported that it would do if Belarus formally got involved in this conflict. Ukraine might desperately need the pressure relief that such an intervention could bring, but it might either be hung out to dry or the intervention could lead to tensions spiraling out of control.

The third, fourth, and fifth scenarios are similar in that Ukraine could either attack Gomel, Bryansk, or both.

This would pose the same risks that the first one would avert with regards to either further extending its own forces and/or its adversaries’. It’s the most dramatic set of scenarios due to how much it would worsen the conflict, but that might be precisely what Ukraine wants if it believes that this could get the West to conventionally intervene in its support, thus implying that it’ll soon lose if they won’t.

Out of these five, while the first would arguably be the best, it appears to be the least likely.

The Ukrainian Foreign Ministry wouldn’t have made its first statement about Belarus in almost a year if it didn’t believe that this would bring it some sort of benefit, let alone ominously imply an ultimatum and then reaffirm its right to self-defense, which would be twisted to justify aggression in the event that it decides to attack Gomel and/or Bryansk.

Something is cooking, and it doesn’t bode well for Belarus.

end

RUSSIA UKRAINE/

END

.6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUE

end

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

Vince McMahon “deteriorating fast”; Victoria Jackson (SNL) has inoperable tumor; Jake Wesley Rogers has Crohn’s; DWTS’s Samantha Harris has 2nd cancer diagnosis; Camilla Luddington has tinnitus

Irish Olympian Daniel Wiffen rushed to hospital; German center Tobias Eder has cancer; Pakistani singer Aima Baig, 29, has “mini heart attack”; NZ cricketer Chris Cairns has another heart attack; more

MARK CRISPIN MILLERAUG 27

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UNITED STATES

‘SNL’ alumna Victoria Jackson says she has inoperable tumor amid cancer battle: “I’ve had a fantastic life”

August 15, 2024

Saturday Night Live alumna and breast cancer survivor Victoria Jackson [65] revealed in a candid social media post that she has an inoperable tumor in her windpipe. “They cannot operate and cut out the marble in my chest that is laying on my windpipe, and eventually would suffocate me to death,” Jackson said, before revealing her course of treatment.  “They’re giving me a magic pill. It’s going to be delivered to my front door within the next 12 hours,” she added. “It’s based on Ribociclib, and it will shrink the marble, hopefully.” As for her prognosis, “I looked up the pill on Google and it says people who take this have 32.6 months to live — something like that.” She revealed her breast cancer diagnosis back in 2016. Earlier this week, she shared video from the room where she was getting a CT scan.

Link

Vince McMahon’s health is reportedly “deteriorating fast”

August 15, 2024

Vince McMahon relinquished any remaining influence he had over WWE earlier this year following Janel Grant’s lawsuit, which shook the whole wrestling industry. And now, just a few weeks before he turns 79, Lee Cole, who is the brother of former WWE employee Tom Cole, has reported on his YouTube channel that McMahon’s estranged wife Linda is telling people that his health is “deteriorating fast.” This comes just a year after he underwent major spinal surgery that left him walking with a cane and dropping significant muscle.

No age reported.

Link

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If you like “News from Underground” (or hate it, but get something out of it), please read this post.

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Musician Jake Wesley Rogers opens up about Crohn’s diagnosis and surgery on ruptured intestine

August 15, 2024

Jake Wesley Rogers is sharing a health update with his fans. On Thursday, Aug. 15, the Evergreen artist, 27, announced that he has to undergo surgery due to his Crohn’s disease. In the Instagram post, he revealed that he was currently at a hospital awaiting surgery. “I have spent most of the last month [at the hospital,]” adding that on Thursday, he “will be having surgery to repair part of [his] intestine that ruptured earlier this week.” As he continued, he revealed he was diagnosed four years ago “and for the most part it’s been in remission but sadly that changed this month. I’m in good hands here and surrounded by love. I know I will be okay,” he wrote.

Link

‘DWTS’ star Samantha Harris diagnosed with cancer for second time

August 15, 2024

Former Dancing With the Stars host Samantha Harris has been diagnosed with breast cancer for a second time. The 50-year-old took to Instagram to share the news in a 43-second video. “I never thought I would have to share this…again. #IwillBeOkay,” she captioned the clip. “I have some health news that I need to share that I never thought that I would be sharing again in my lifetime, but I have a recurrence of breast cancer,” she said.

Link

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Grey’s Anatomy star Camilla Luddington’s unexpected health diagnosis explained as condition affects millions across the world

August 15, 2024

Grey’s Anatomy star Camilla Luddington [40] recently opened up about a ‘distressing’ health diagnosis she’s worried will never ‘go away’. Before being diagnosed, she found she was experiencing strange issues with her hearing. “Two-ish – three – maybe two-ish years ago I was watching Ghost Busters and there are a lot of silent parts in it and I turned to [husband] Matt [Allen] and I said, ‘Is, is the TV buzzing?’ Long story short, I realised I had something called tinnitus, which is – and I still have it to this day – which is a constant noise,” she said, adding: “Actually I don’t have it – you can have it in one ear or the other ear – I only have it in my right ear.”

Link

IRELAND

Olympic swimming hero Daniel Wiffen ‘rushed to hospital’ following illness

August 12, 2024

Olympic swimming hero Daniel Wiffen [23] had to be ‘rushed to hospital’ following an illness and looks set to miss today’s homecoming in Dublin. Wiffen, who won a gold and bronze medals in the swimming pool, was originally named as a Team Ireland flagbearer for yesterday’s Closing Ceremony but was forced to withdraw last minute after feeling unwell. And the Armagh native has now revealed that he was rushed to hospital after picking up a bug.

Link

GERMANY

German national team center Tobias Eder has cancer

August 10, 2024

Tobias Eder, center for the German national team and Eisbären Berlin, was diagnosed with a malignant tumor during his training camp physical, the DEL club announced on Friday. The 26-year-old has already begun treatment.

Link

PAKISTAN

Singer Aima Baig suffers mini heart attack

August 14, 2024

The incident occurred after a grueling schedule that saw her traveling across several countries without adequate rest. Baig [29], who embarked on her tour in July, began her journey with a performance in Jeddah, Saudi Arabia, followed by a visit to perform Umrah. Despite her plans to remain abroad for over a month, recent reports have been marred by speculation about her departure from the country and the music industry. On August 14, Baig took to Instagram to update her fans about her health. The singer shared images of herself from a hospital bed, revealing that she had experienced a mini heart attack due to prolonged periods of sleeplessness and relentless travel. She attributed her health scare to the exhaustion of consecutive flights and a lack of proper rest. Despite the severity of her condition, Baig has not disclosed the specific location or exact timing of the heart attack, nor has she provided detailed information about her current health status.

Link

Public reacts to Aima Baig’s “mini” heart attack:

Social media users are trolling Aima Baig for using the wrong term for her minor heart attack. A social media user wrote, “I didn’t know heart attacks come in series, Mini, Max and Ultra pro max”. A cardiologist wrote, “I haven’t heard this terminology of a little or mini heart attack ever in my life”.

Public Reacts to Aima Baig’s Mini Heart Attack

MALAYSIA

Sukma: Thurgashree will carry that weight for Penang despite kidney scare

August 10, 2024

Bukit Mertajam – Despite being plagued with uncertain health, Penang’s sole weightlifter T. Thurgashree stubbornly will not back down from her mission to grab a medal at the 2024 Malaysia Games (SUKMA XXI) in Sarawak. With about a week left before opening action on Aug. 19, Thurgashree, 18, who will compete in the women’s category not exceeding 45 kilogrammes (kg), refuses to let illness defeat her, not to mention when she is the sole hope for Penang’s weightlifting fortune. Recalling the dark spot in her burgeoning career, the youngest of the three siblings said she was suddenly taken ill by a viral attack on her kidneys last April when she was warded for 20 days.

Link

AUSTRALIA

‘Distressing’: Dragons enforcer sent to hospital with irregular heartbeat — Casualty ward

August 10, 2024

Dragons prop Hame Sele [27] has been sent to hospital after leaving the field due to an irregular heartbeat in the first half of his side’s clash with the Bulldogs. Sele was a late inclusion in the run on side, but was forced to leave the field due to the medical emergency in the 20th minute. Fox League commentator Andrew Voss labelled the incident “rather distressing” while rugby league legend Greg Alexander said: “That‘s not your run of the mill things that happen to a player, that’s alarming”. Sele reportedly left the field after complaining to club medicos he was suffering chest pains and was seen entering ambulance on Fox League’s Super Saturday coverage.

Link

NEW ZEALAND

Chris Cairns recovering from another heart attack

August 16, 2024

New Zealand cricket great Chris Cairns [54] has suffered another heart attack. Earlier this week, Cairns revealed on Instagram he had a “minor” heart attack last week. Cairns’ latest health setback comes after he suffered a heart attack at his home in Canberra in 2021. He then had a spinal stroke following emergency heart surgery. Cairns spent 141 days in Canberra Hospital recovering and required four open-heart surgeries. Then five months later, he was diagnosed with bowel cancer. The stroke left Cairns paralysed from the waist down and he has spent many agonising months learning how to walk again.

Li

MARK CRISPIN MILLER

DR PAUL ALEXANDER

What happened to the US Navy SEALS training at the time when the COVID vaccine mandate for the Malone Bourla Bancel et al. mRNA vaccine went into effect? Data shows a massive rise in failure to com

-plete; we asked if this was idiosyncratic, just peculiar to that period, but it appears that attrition returned to normal once the mandates were stopped! ‘New Navy report reveals rare SEAL training

DR. PAUL ALEXANDERAUG 27

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attrition data’; did the Kamala Harris, Biden, Obama COVID vaccine mandates cause catastrophe in the US military? Their recruitment and also system wide across the armed forces? Have our soldiers been compromised? Same with our precious police, law enforcement? Border agents? Even FBI, Secret Service agents etc.? Was the mandate for the COVID vaccine a means to devastate our military, such as was this deliberate? By Lloyd Austin etc.?

Was this one aspect of destroying America? By weakening our military? Thus, must the general population who is maybe MORE armed, come to the defense of our military? Are my questions troubling? Why was the mandate for our military and police while 20 to 30 million largely military aged men were allowed into the USA, many now raping and killing our women, yet were never mandated to take any vaccine? Is America already under attack from within? Why are marines dying in training or at bases? e.g. Parris island.

Alexander MAGA Trump news; fake PCR created non-pandemic is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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‘It adds that “attrition due to candidates dropping on request during weeks 1-3 of 1st Phase rose during 2021/2022 to 48 percent and 49 percent respectively from the historic average of 30 percent.” This heightened attrition continued throughout the course of an unnamed officer being in charge of 1st Phase, until returning to normal levels by Classes 354 and 355.’

New Navy report reveals rare SEAL training attrition data (sandboxx.us)

and…

‘Three Marines have died at Parris Island since July, including two instructors at the South Carolina base, according to the Marine Corps. Two of the deaths occurred within days of each other last week.

end

SLAY NEWS

Renowned Cardiologist: Covid Shots Caused 112,000% Spike in Brain ClotsOne of the world’s leading cardiologists is raising the alarm over a major study that identified a bone-chilling spike in brain clots among the Covid-vaccinated.READ MORE

Yale Epidemiologist Warns Public: Covid Shots Are ‘Toxic’A revered Yale University epidemiologist is speaking out to warn the public that Covid mRNA “vaccines” are a “toxic shot.”READ MORE

Jack Smith Stops Pushing for Expedited Hearings in Trump’s Election Interference CaseSpecial Counsel Jack Smith has opted to stop pushing the courts for expedited hearings in his election interference case against President Donald Trump.READ MORE

Trump-Endorsed Congressional Candidate Drops Out to Help GOP Win Seat in Alaska’s Ranked-Choice Voting SystemAlaska’s GOP Lt. Gov. Nancy Dahlstrom announced Friday that she is dropping out of the U.S. House of Representatives race to consolidate support behind fellow Republican Nick Begich.READ MORE

Federal Judge Slaps Injunction on NY AG Letitia James’ Crackdown on Pro-Life Pregnancy CentersA federal judge has imposed a preliminary injunction on New York Attorney General Letitia James’s ability to crack down on the speech of pro-life pregnancy centers.READ MORE

Sen Josh Hawley Blasts DHS Chief Mayorkas over Missing Migrant ChildrenA bombshell report from the Department of Homeland Security’s (DHS) Inspector’s General report was published last week.READ MORE

Chicago Suffers Bloodbath during DNC as Democrats Make Case for PresidencyWhile Chicago hosted the Democratic National Convention (DNC), the Democrat-controlled city experienced dozens of shootings, several of them fatal.READ MORE

EVOL NEWS

US Embassy Issues Security Alert for Citizens Amid Israel-Hezbollah Strikes – EVOL READ MORE…

Top Virologist Blows Whistle: Monkeypox Is Caused by Covid Shots – EVOL

Read more…

JUST IN: Secret Service Pulls RFK Jr.’s Security Detail After Trump Endorsement – EVOL

Read more…

Hey Secret Service – Can You Explain These Claims Of B&E Into A Private Business For Kamala’s Campaign? – EVOL

Read more…

Pennsylvania Judge Rules Cornel West Can’t Appear on Ballot in Pennsylvania – EVOL

Read more…

NEW: Disney Forms Committee Tasked With Finding New CEO As Company Struggles To Regain Footing – EVOL

Read more…

Little League World Series: Florida wins extra-innings championship thriller over Taiwan on chaotic walk-off bunt – EVOL

Read more…

Supporters React to RFK Jr. Suspending Campaign, Backing Trump – EVOL

Read more…

Woman Arrested and Kicked Out of City Council Meeting For Expressing Her First Amendment Rights – EVOL

Read more..

NEWS ADDICTS

All-Cause Deaths Are Surging Among Covid-Vaxxed, Study WarnsAn alarming new study has revealed that deaths from all causes are soaring dramatically among those who have received Covid mRNA shots compared to the unvaccinated.READ MORE

American Birth Rates Are Continuing to Plummet, CDC RevealsA new report from the U.S. Centers for Disease Control and Prevention (CDC) has revealed that birth rates in the United States are continuing to plummet in an alarming downward spiral.READ MORE

Sen Cory Booker: It’s Time for Democrats to ‘Finally Kill’ MAGASen. Cory Booker (D-NJ) has called on his fellow Democrats to up the ante and “finally kill” the MAGA wing of the Republican Party.READ MORE

Experts Warn DHS’s Marxist Agenda Made America Less Safe: ‘Road to Anarchy’Experts are warning that the Marxist agenda that has infiltrated the Biden-Harris administration’s Department of Homeland Security (DHS) is placing the American people in danger.READ MORE

Jack Smith Will Not Pursue ‘Mini-Trial’ against Trump before November ElectionPresident Donald Trump has just secured another victory in his battle against multiple lawfare attacks.READ MORE

Tim Walz Embellished Harvard Links to His China ProgramRadical Democrat vice presidential candidate Tim Walz has yet again been caught inflating his credentials and misrepresenting his background.READ MORE

Trump-Appointed Federal Judge Tosses Machine Gun Possession ChargesA federal judge has just handed down a massive Second Amendment-based legal victory regarding a machine gun-related case.READ MORE

Gavin Newsom Mocks ‘Open Process’ That Democrats Used to ‘Switch’ Biden with HarrisCalifornia’s Governor Gavin Newsom has mocked the “open process” that his party used to “switch” President Joe Biden with VP Kamala Harris as the presidential nominee.READ MORE

RFK Jr: More Democrats Are Set to Join Trump’s CampaignRobert F. Kennedy Jr. has revealed that President Donald Trump is going to announce that several other prominent Democrats are joining his re-election campaign.READ MORE

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

The Powell Of The Powerless

TUESDAY, AUG 27, 2024 – 11:00 AM

By Michael Every of Rabobank

The Fed Chair’s dovish Jackson Hole speech was analysed pithily by our Fed watcher Philip Marey: “Regarding the Fed’s initial diagnosis that inflation was “transitory”, Powell tried to hide behind other economists who were also wrong: “The good ship Transitory was a crowded one, with most mainstream analysts and advanced-economy central bankers on board.” This is the classic sharing the-blame defence of failing economists, but totally inappropriate for the world’s leading central bank with the largest staff of economic researchers in the world, holding PhDs from America’s most prestigious universities. Even a modest Dutch bank could see that the Fed was going to be blindsided by inflation.

Powell has already concluded that the Fed has brought down inflation while preserving labor market strength. This may be a bit premature, given the unemployment rate is rising so fast that the Sahm rule has already been triggered, and the lagged effects of restrictive monetary policy could still materialize in the coming months. Instead, Powell was patting himself on the back. He concluded his speech with, “The limits of our knowledge –so clearly evident during the pandemic– demand humility and a questioning spirit focused on learning lessons from the past and applying them flexibly to our current challenges.” Humility? This speech reflected hubris, not humility.”

Indeed, the Fed Chair pivot to “do-everything-we-can” rate cuts, ostensibly with inflation beaten, and as a friend-of-labor –‘The Powell of the Powerless’– and markets swallowing it, makes me think of a political essay with a similar name. In 1978, just before the Fed got serious on rates under Volcker after years of crash and Burns, then Czechoslovak dissident Havel wrote ‘The Power of the Powerless’, showing how to resist an all-pervasive “post-totalitarian” system. In 2024, with a light edit on my end, Havel’s text is also a tongue-in-cheek critique of the assumption that the all-pervasive Fed won’t be resisted ahead:

“Our system is not limited in a local, geographical sense; rather, it holds sway over a huge power bloc controlled by one of the two superpowers… It commands [a] precise, logically structured, generally comprehensible and, in essence, extremely flexible ideology that, in its elaborateness and completeness, is almost a secularized religion… In an era when metaphysical and existential certainties are in a state of crisis, when people are being uprooted and alienated and are losing their sense of what this world means, this ideology inevitably has a certain hypnotic charm… [Its] mechanisms for wielding power are for the most part not established firmly, and there is considerable room for accident and for the arbitrary and unregulated application of power…

A portfolio manager places in his email the slogan: RATE CUTS! Why does he do it? What is he trying to communicate to the world? Is he genuinely enthusiastic about the idea of lower rates? Is his enthusiasm so great that he feels an irrepressible impulse to acquaint the public with his ideals? Has he really given more than a moment’s thought to how such rate cuts might occur and what they would mean?…He put RATE CUTS! into emails simply because it has been done that way for years, because everyone does it, and because that is the way it has to be. If he were to refuse, there could be trouble. He could be reproached for not having the proper decoration in his email; someone might even accuse him of disloyalty. He does it because these things must be done if one is to get along in life. It is one of the thousands of details that guarantee him a relatively tranquil life “in harmony with society,” as they say…

The slogan is really a sign, and as such it contains a subliminal but very definite message. Verbally, it might be expressed this way: “I, XY, live here and I know what I must do. I behave in the manner expected of me. I can be depended upon and am beyond reproach. I am obedient and therefore I have the right to be left in peace.” This message, of course, has an addressee: it is directed above, to his superior, and at the same time it is a shield…”

Of course, individual incentives for groupthink in markets are clear; “Stay alive ‘til 25” is a mantra for many praying for rate cuts; and the belief 2021-24 was a “long transitory” inflation aberration before a return to ZIRP and QE still holds sway with many. Yet that doesn’t mean the Fed’s ideology isn’t projecting an ideological ‘reality’ inconsistent with the facts: inflation is beaten… when over target, especially in services; the labour market was strong; now it’s suddenly cooling… yet the Fed can forecast the economy; and it cares about labour… after being prepared to see rising joblessness to cap inflation, worrying about high wage growth, and surely knowing mass low-wage, illegal immigration was underway for years.  

Havel notes a post-totalitarian system “has a natural tendency to disengage itself from reality… Because the regime is captive to its own lies, it must falsify everything. It falsifies the past. It falsifies the present, and it falsifies the future. It falsifies statistics… It pretends to fear nothing. It pretends to pretend nothing. Individuals need not believe all these mystifications, but they must behave as though they did, or they must at least tolerate them in silence, or get along well with those who work with them. For this reason, however, they must live within a lie. They need not accept the lie. It is enough for them to have accepted their life with it and in it. For by this very fact, individuals confirm the system, fulfil the system, make the system, are the system.”

In 1978, Havel’s power of the powerless was a Czechoslovak greengrocer not putting an official sign saying, “Workers of the world, unite!” in their state-run shop window. In 2024’s Western free(ish) society and free(ish) markets “there are always certain correctives that effectively prevent ideology from abandoning reality altogether.” Here’s some samizdat for those wanting to dissent:

• August payrolls are key: a weak number may see markets price a 50bp September Fed move, but would also prompt concern about corporate earnings. Yet what if we get a stronger print?
• Powell didn’t address China’s deflation and mercantilism, which help make US inflation look “transitory.” Yet were Beijing to switch to stimulus alongside Fed rate cuts, as pressure is lifted off CNY (chatter now of a $1trn inflow to China if so), global commodity prices would leap.
• High Fed rates and a strong dollar capped commodity prices too, but WTI oil rose 2.5% Friday and another 3.0% Monday – coincidence, warning, or both?
• Massive new liquidity flowing into the global system means asset price inflation: hooray – but that will create political problems as the powerless and assetless get restless.
• Then there’s (geo)politics. If Trump wins, tariffs, tax cuts, and a smaller US labor force follow, and inflation rises; Western voters seem discontent with high immigration, without which wage growth rises; the Houthis blowing up an oil tanker underline Suez isn’t coming back as a global trade conduit; Israel and Hezbollah came closer to war before the latter blinked; Libya stopped oil exports; Russia saw more refinery damage; Canada put 100% tariffs on Chinese EVs and steel; China is considering tariffs on EU autos; and its controls on and stock-piling of rare earth minerals are pushing up the prices of key inputs for vital silicon chips.
• On the downside, the IFO warned the German economy risks slipping into “crisis” ahead of September regional elections that could make it look ungovernable; France has no government, and President Macron won’t allow a left-wing one; and the new UK Prime Minister is singing “Things can only get worse before they get better”, while media say violent offenders are being let off prison sentences if they say “sorry”, while anti-immigration rioters can all find cells.
• Central banks who’d cut dovishly before Powell (i.e., the BOC, RBNZ, ECB) were already seeing their currencies rise the dollar rather than sink: are they happy about more exchange-rate deflation pressures, or worried about loss of exports if global growth slows?

If the Fed cuts, then has to hike again, the current decade, like the one fifty years before it and the one forty years before that, risks marking the failure of not just the Fed’s reputation, but our global system and its “because markets” ideology. In the 1970s, we moved past high inflation via much more debt, much more globalisation, and inflation targeting. Today, that trinity looks impossible to return to. So, what next? Nobody at the Fed, and few in markets, are willing to talk about these huge downside risks, just the apparent downside for rates ahead. Havel had a few things to say about that, as I just showed.

Yet if the Fed has to cut again more than expected, things also look ugly. A recent Kansas City Fed paper explains central banks and governments can coordinate on a ‘safe debt’ regime that insures bondholders or a ‘risky debt’ regime that insures taxpayers; monetary dominance (QE) = safe debt, fiscal dominance (and no QE) = risky debt. Tellingly, it then concludes “high-frequency evidence shows the risky debt regime is a better fit for the recent US Treasury market experience as well as the experience of other advanced economies. Large unfunded spending shocks trigger large adjustments in the valuation of the government debt portfolio, even in a well-functioning bond market.” There’s a major Fed warning about fiscal spending at a time when austerity seems impossible or improbable. Of course, the above was against a backdrop of high rates and QT as well as huge fiscal deficits, and if we were to go back to ZIRP and QE then logically we would also be back to ‘safe debt’ again (and taxpayers, shmaxpayers).

However, we wouldn’t be in a safe currency regime. Or, as a result, a safe global trade regime. Or, logically, a safe inflation regime. So, if the global system sees another major crisis, the go-to answer of ZIRP and QE just creates massive new problems, not a replay of 2008-2020.

In short, the key danger for markets is that while all they want to hear is ‘finally, Fed rate cuts!’, the FOMC Chair may yet show himself to be “The Powell of the Powerless”, in that he can’t do what he and they want.

Then the Velvet Revolution, or the Velvet Divorce, may really start.

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

PAKISTAN

This is not good: over 70 dead as gunmen storm the highways and execute civilians. A big powder keg forming here

(zerohedge)

Pakistan: Over 70 Dead As Gunmen Storm Highways, Execute Civilians In 24 Hours Of Terror

Monday, Aug 26, 2024 – 08:30 PM

A massive coordinated terror attack on several locations in southwestern Pakistan has left at least 70 dead over a 24-hour period of terror which started Sunday night.

The attacks were the work of a separatist group called the Baluch Liberation Army (BLA), which claimed responsibility. It started with bombings and gunfire targeting a national military camp in Pakistan’s Baluchistan Province, which left at least one soldier dead.

In the same area, gunmen stormed four police stations, setting vehicles on fire. By morning, a key bridge in the area was also attacked and destroyed. But the situation escalated when militants attacked a major highway in a town called Bela. They intercepted traffic and then proceeded to execute people, reports say.

Several groups of BLA gunmen went on a rampage, and other motorways were targeted as well, seemingly at random, though authorities say in some instances the attackers were seeking to kill individuals of specific ethnic groups.

“Vehicles travelling to and from Punjab were inspected, and individuals from Punjab were identified and shot,” a regional report indicates.

Many of the reported dead are the militants themselves, amid a heavy police and military response. A list of some of the major attacks are as follows:

The country’s military said 14 soldiers and police, as well as 21 militants, were killed in fighting after the largest of the attacks, which targeted vehicles on a major highway in Bela, a town in Lasbela district.

In a separate attack in Musakhel district, local officials said at least 23 civilians were killed after attackers determined they were from Punjab, with 35 vehicles set ablaze.

And in Kalat, 10 people were reported to have been killed – five police and five civilians – after a police post and a highway were attacked.

In some places, the dead and wounded are still being accounted for, with recovered bodies being examined for identification.

#International l At least 40 people killed in two separate targetted attacks by Baloch gunmen. 23 passengers from #Pakistan's Punjab killed in Musakhel district, 11 others killed in Kalat, including 5 civilians & 6 security personnel.#Balochistan #Violence #Terrorist #Terrorism pic.twitter.com/kk8R9BV20D

— Lokmat Times Nagpur (@LokmatTimes_ngp) August 26, 2024

The New York Times describes of the horrific moment where summary executions of civilians were carried out on a random highway:

The deadliest single attack in the campaign so far unfolded in Musakhel, a district in Baluchistan, officials said, when armed men stopped traffic on a highway and demanded that passengers on buses and trucks show them their identity cards, officials said.

The gunmen forced some of the passengers out of the vehicles, and then shot and killed them, officials said. Nearly all of the victims were from Punjab Province, officials said, and the gunmen set at least 10 buses and trucks ablaze before fleeing the area.

While the region has witnessed long-running, internecine violence, Monday marks one of the worst and most gruesome attacks in the modern history of Pakistan given the random nature of the attacks on civilians. As a result, there is growing anger among the populace at the major intelligence and security failure.

Pakistan's Balochistan province was hit by a coordinated attack from militant separatists who hit police stations, railway lines, and highways in a killing spree that has so far claimed at least 51 lives. https://t.co/PLcLHxbLi4 pic.twitter.com/SAbooXn9yL

— DW News (@dwnews) August 26, 2024

“No form of terrorism is acceptable in the country,” Prime Minister Shehbaz Sharif has said in addressing the nation. “Our fight against terrorism will continue until the complete elimination of the scourge.”

The southwest region has witnessed separatist and radical Islamic terrorist organizations for years waging a long-running insurgency against the government and its foreign partners, accusing Islamabad of exploiting the population of the region.

END

CANADA

Canada Hits China With 100% Tariff On Electric Cars

Monday, Aug 26, 2024 – 09:20 PM

Who needs Trump for an all-out trade war between the West and China.

Taking a page out of Europe’s playbook, Canada will impose staggering new tariffs on Chinese-made electric vehicles, aluminum and steel, lining up behind western allies and taking steps to protect domestic manufacturers.

Speaking in Halifax, Nova Scotia, where he was gathered with the rest of his cabinet for a series of meetings about the economy and foreign relations Prime Minister Justin Trudeau unveiled the new policy which consists of a 100% levy on electric cars and 25% on steel and aluminum. The EV tariff will take effect Oct. 1 and will also include certain hybrid passenger automobiles, trucks, buses and delivery vans. It will be added to an existing 6.1% tariff that applies to Chinese EVs, the government said in a news release.

The levies on aluminum and steel will come into place Oct. 15. The government released an initial list of goods on Monday and the public will have a chance to comment before it is finalized on Oct. 1.

Turdeau’s (sic) government is also launching a new 30-day consultation on other sectors, including batteries and battery parts, semiconductors, solar products and critical minerals.

“We are transforming Canada’s automotive sector to be a global leader in building the vehicles of tomorrow,” the prime minister told reporters in Halifax. “But actors like China have chosen to give themselves an unfair advantage in the global marketplace, compromising the security of our critical industries and displacing dedicated Canadian autos and metal workers.”

Canada, an export-driven economy that relies heavily on trade with the US, has been closely watching moves by the Biden administration to erect a much higher tariff wall against Chinese EVs, batteries, solar cells, steel and other products. Canada’s auto sector is heavily integrated with that of its closest neighbor: The vast majority of its light vehicle production, amounting to just 1.5 million units last year, is exported to the US.

Turdeau’s Finance Minister Chrystia Freeland has been one of the most prominent voices in favor of a harder approach to Chinese vehicle exports, and becoming a closer trade ally with the US. In June, she announced a public consultation on possible measures to make it more difficult for Chinese companies to sell electric vehicles in the Canadian market. During an interview with Bloomberg News in July, she said the tariffs consultation might go beyond electric cars.

The government also announced Monday that it will limit eligibility for electric vehicle incentives to products made in countries that have negotiated free-trade agreements with Canada. It will review the new levies within a year of them coming into effect.

We previously reported that the European Union also announced proposed new tariffs on electric vehicles important from China, though at lower levels than the US and now Canada are proposing. Products made by SAIC Motor Corp. face additional duties of 36.3%, while Geely Automobile Holdings Ltd. and BYD Co. each face tariffs of 19.3% and 17%, respectively, according to a draft decision released last week. Tesla Inc. will see an extra 9% charge on Chinese-made vehicles.

Chinese leaders plan to raise the issue of tariffs when US National Security Adviser Jake Sullivan visits this week, according to the official Xinhua News Agency. Sullivan is due to meet with Foreign Minister Wang Yi and may also meet with Chinese leader Xi Jinping.

And now we wait to see what China’s tat will be to Canada’s tit: Beijing previously retaliated against Canada when it restricted imports of Canadian canola seed for three years, a move seen as retribution for a decision by Canada authorities to arrest Huawei executive Meng Wanzhou in Vancouver on a US extradition warrant. Meng returned to China in 2021.  

The value of Chinese electric vehicles imported by Canada surged to C$2.2 billion ($1.6 billion) last year, from less than C$100 million in 2022, according to data from Statistics Canada. The number of cars arriving from China at the port of Vancouver jumped after Tesla started shipping Model Y vehicles there from its Shanghai factory.

However, the Canadian government’s main concern isn’t Tesla, but the prospect of cheap cars made by Chinese automakers eventually becoming available. As Bloomberg reports, BYD informed the Canadian government in July that it intends to lobby lawmakers and officials about its plans to enter the country.

Trudeau also faced political and industry pressure. The Canadian auto sector had been pushing him to hike tariffs to protect domestic jobs and wages, arguing that China’s EVs are cheaper due to much weaker labor standards. The government has also bet big on automakers and manufacturers from democratic allies: the government has agreed to to multibillion-dollar subsidies for electric vehicle plants or battery factories for Stellantis NV, Volkswagen AG and Honda Motor Co., among others.  

Steel and aluminum producers in Canada have also publicly and repeatedly urged the government to restrict China’s access, saying that Xi’s industrial policy allows the Asian powerhouse to unfairly flood foreign markets, putting local jobs at risk.

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:  1.1167 UP 0.0003

USA/ YEN 144.67 UP 0.168 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 NO 2 DISINTEGRATES//YEN CARRY TRADE FINISHED

GBP/USA 1.3222 DOWN 0.0031

USA/CAN DOLLAR:  1.3466 DOWN 16 (CDN DOLLAR UP 16 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 6.79 PTS OR 0.24%

 Hang Seng CLOSED UP 78.94 PTS OR 0.47%

AUSTRALIA CLOSED DOWN .17%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 75.94 PTS OR 0.43 %

/SHANGHAI CLOSED DOWN 6.79 PTS OR 0.24%

AUSTRALIA BOURSE CLOSED DOWN 0.17%

(Nikkei (Japan) CLOSED UP 178.40 PTS OR 0.47%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2510.20

silver:$29.94

USA dollar index early TUESDAY  morning: 100.68 DOWN 5 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: 2.882%  UP 6 in basis point(s) yield

JAPANESE BOND YIELD: +0.885% UP 0 AND 2/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.106 UP 4 in basis points yield

ITALIAN 10 YR BOND YIELD 3.665 UP 7 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2790 UP 4 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 1.1167 UP .0003 OR 3 basis points

USA/Japan: 144.32 DOWN 0.189 OR YEN IS UP 19 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE

Great Britain 10 YR RATE 4.146 UP 10 BASIS POINTS //

Canadian dollar DOWN .0025 OR 25 BASIS pts  to 1.3456

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED DOWN AT 7.1241 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1285)

TURKISH LIRA:  34,03 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.885

Your closing 10 yr US bond yield UP 3 in basis points from MONDAY at  3.851% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.146 UP 4 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.939 UP 1 BASIS PTS.

GOLD AT 11;00 AM 2516,25

SILVER AT 11;00: 29.98

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 UP 17.68 PTS OR .21%

German Dax :  CLOSED UP 64.79 PTS OR 0.35%

Paris CAC CLOSED DOWN 24.59 PTS OR 0.32%

Spain IBEX CLOSED UP 61.40 OR 0.55%

Italian MIB: CLOSED UP 174.00 OR 0.52

WTI Oil price  76.25 12EST/

Brent Oil:  80,06 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91,50 ROUBLE UP 0 AND  50/100      

GERMAN 10 YR BOND YIELD; +2.2720 UP 3 BASIS PTS.

UK 10 YR YIELD: 4.044 UP 10 BASIS POINTS

CDN 10 YEAR RATE: 3.105 UP 4 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1182 UP 0.0017   OR 17 BASIS POINTS

British Pound: 1.3255 UP 0.0064 OR 64 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.0000 UP 10 BASIS PTS//

JAPAN 10 YR YIELD: 0.885

USA dollar vs Japanese Yen: 144.00 DOWN 0.501 YEN UP 50 BASIS PTS//

USA dollar vs Canadian dollar: 1.3480 DOWN 0.0032//CDN dollar UP 32 BASIS PTS

West Texas intermediate oil: 75.69

Brent OIL:  79.63

USA 10 yr bond yield UP 2 BASIS pts to 3.835

USA 30 yr bond yield UP 2 BASIS PTS to 4.125%

USA 2 YR BOND: DOWN 3 PTS AT  3.908

CDN 10 YR RATE 3.086 UP 1 BASIS PTS

USA dollar index: 100.48 DOWN 25 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.02 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  91.50 UP 0  AND  50/100 roubles

GOLD  2,523.55 3:30 PM

SILVER: 30.02 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 9.98 PTS OR 0.024%

NASDAQ UP 65.09 PTS OR 0.33 %

VOLATILITY INDEX: 15.44 DOWN 0.71 PTS OR 4.40%

GLD: $233.39 UP 0.63 OR 0.27%

SLV/ $27.36 UP 0.04 OR 0.15%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Gold Hits New Record High, Bitcoin Battered As NVDA Earnings Loom

Tuesday, Aug 27, 2024 – 04:00 PM

Consumer sentiment lifted modestly today (headline Conf Board) but under the hood it was a shit-show with labor market weakness accelerating and purchasing-plans puking. Regional Fed surveys were also ugly (as home prices hit new record highs).

That ‘bad’ news prompted a dovish shift in rate-cut expectations (with attention once again shifting to 2024 from 2025)…

Source: Bloomberg

The slight easing sent gold to a new record high…

Source: Bloomberg

Treasury yields were mixed on the day with the short-end outperforming (2Y -3bps, 30Y +2bps), which dragged the 2Y yield lower on the week. Note that bonds were bid from early in the US session after an ugly EU session…

Source: Bloomberg

Nasdaq outperformed on the day (after all the majors were weak out of the gate). Small Caps were the biggest loser with The Dow unchanged…

NVDA was the notable outperformer among the Mag7 today…

Source: Bloomberg

Most notably, 0-DTE traders piled aggressively into calls today (but late on were more conservative with buying straddles)…

Source: SpotGamma

Notably, it has been Dem-policy-driven stocks that have outperformed in the last couple of weeks (but notice the lower pane shows we are at a key relative strength level for Dems/Reps right now)…

Source: Bloomberg

The dollar was unchanged on the day, unable to recover any more of the post-J-Hole losses…

Source: Bloomberg

As gold rallied, the other alternative currency (Bitcoin) crumbled back to pre-J-Hole levels…

Source: Bloomberg

Oil prices fell today, seemingly stalling at recent resistance…

Source: Bloomberg

Finally, it’s the big one tomorrow… NVDA’s earnings. The S&P 500 vol market is ready…

Source: Bloomberg

Are you?

Source: Bloomberg

Of course, it’s different this time.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

Conference Board Survey Signals Weakest Labor Market Since COVID Lockdowns

TUESDAY, AUG 27, 2024 – 10:13 AM

After 8 of the last 9 months seeing consumer confidence revised lower, July’s Conference Board data was revised significantly higher (from 100.3 to 101.9)…

Source: Bloomberg

And August’s headline print was considerably better than expected (103.3 vs 100.8 exp) with the expectations gauge adjusted significantly higher for July and higher still in August…

Source: Bloomberg

The Present Situation remains languishing near COVID lockdown lows, which is perhaps explained by the fact that the overall trend in the labor market indicator remains weaker…

Source: Bloomberg

…and purchase plans for homes, cars, and appliances all plunged.

Source: Bloomberg

But some good news is that inflation expectations tumbled back to pre-COVID levels…

Source: Bloomberg

This soft survey data supports The Fed’s dovish stance (if you look hard enough), but given the lack of buying interest, it seems the consumer is more than stretched.

end

The 3 major Fed survey areas; Dallas Fed, Richmond Fed and Philly Fed all slump into contraction

(zerohedge)

“I Feel That A Recession Is Going To Hit The US” – Dallas, Richmond, & Philly Fed Surveys Slump

Tuesday, Aug 27, 2024 – 12:40 PM

“Honestly, I do not think this economy can withstand the ravages of what it has experienced since 2021.”

‘Four more years’ is not the message being heard from the regional Fed surveys this week as the Philly, Dallas, and Richmond business surveys all slumped deeper into contraction…

Source: Bloomberg

Actual CapEx is weak, New Orders are plunging, and the number of employees is tumbling…

Source: Bloomberg

Overall, respondents’ expectations regarding future business activity reflected waning optimism in August.

• I feel that a recession is going to hit the U.S.
• Our data supports the thesis that consumer spending is paring back materially. We will start seeing significant negative impacts to our business if spending continues to decline at the current rate through the end of the year. We are very concerned that the Federal Reserve has waited too long to trim rates and that by the time any future cuts begin impacting the economy, consumer spending will be at recession levels.
• It’s curious that news headlines say inflation is going down, but in the design and construction industry, we have not seen prices going down.
• Costs continue to rise while pressure from customers and prospects to decrease prices is continually increasing.

The consumer is hurting…

• Activity is stalled slightly due to increasing personal debt along with [interest] rate uncertainty.
• We continue to see delays in purchase decisions.
• People are out of money. They’re parking their cars and throwing their keys to the dealership or banker, as it’s car or food for the family. And worst of all, I think it has just begun.
• Customers are having difficulty coming up with funds to pay for our services.
• In my 15 years at this location, this summer has been the worst business period I have seen.

Politics came up a lot…

• The biggest issue keeping companies from doing much, in my opinion, is politics.
• Understanding that the psychology of people and the market is a major driver of the economy, the upcoming election will determine the course of American business for the next four years.
• It is increasingly looking like the U.S. has lost its position of strength in geopolitics, and the vacuum is encouraging war and violence, which pose significant risk to international trade and reduce opportunities for U.S. companies. Anti-business, tax and spend rhetoric is not conducive for long-term investments and is going to further reduce U.S. business competitiveness especially against China’s government-supported industries and firms.
• The amount of political noise is disruptive to business owners. Political ads are proliferating, providing little value and worrying business owners.

And finally, one respondent decided a limerick was the appropriate response…

One opines that interest rates a bit too high.
Many borrowers in pain and let out a sigh.
We plead with grace
Bring rates to a place
Where capital formation does not result in a cry!

Get back to work, Mr.Powell!

III  USA ECONOMIC COMMENTARIES

HUGE STORY!

In Stunning Letter To Congress, Zuckerberg Admits Biden-Harris Pressured Facebook To Censor Content

Monday, Aug 26, 2024 – 11:00 PM

Two years ago Meta CEO Mark Zuckerberg admitted to Joe Rogan that the FBI pressured Facebook into censoring the Hunter Biden laptop story.

Now he’s participating in a Congressional investigation.

In a stunning Monday evening letter to House Judiciary Chairman Jim Jordan, Zuckerberg admitted that senior Biden administration officials “repeatedly pressured” Facebook teams to suppress information related to COVID-19 that the platform would not have otherwise censored – and the administration ‘expressed a lot of frustration with our teams when we didn’t agree.’

Zuck now says that Facebook should not have compromised its standards “due to pressure from any Administration in either direction.”

“I believe the government pressure was wrong, and I regret that we were not more outspoken about it,” reads the letter. “I also think we made some choices that, with the benefit of hindsight and new information, we wouldn’t make today.”

He’s also committed and “ready to push back if something like this happens again.”

House Judiciary GOP 

@JudiciaryGOP

Mark Zuckerberg just admitted three things: 1. Biden-Harris Admin “pressured” Facebook to censor Americans. 2. Facebook censored Americans. 3. Facebook throttled the Hunter Biden laptop story. Big win for free speech.

6:44 PM · Aug 26, 2024

·

20.8M Views

Mark Zuckerberg just admitted three things:

1. Biden-Harris Admin "pressured" Facebook to censor Americans.

2. Facebook censored Americans.

3. Facebook throttled the Hunter Biden laptop story.

Big win for free speech. pic.twitter.com/ALlbZd9l6K

— House Judiciary GOP 🇺🇸🇺🇸🇺🇸 (@JudiciaryGOP) August 26, 2024

Zuckerberg also said that Facebook shouldn’t have censored the NY Post‘s Hunter Biden laptop story – and said that the FBI had warned the platform “about a potential Russian disinformation operation about the Biden family and Burisma in the lead up to the 2020 election.”

“That fall, when we saw a New York Post story reporting on corruption allegations involving then-Democratic presidential nominee Joe Biden’s family, we sent that story to fact-checkers for review and temporarily demoted it while waiting for a reply,” reads the letter. “It’s since been made clear that the reporting was not Russian disinformation, and in retrospect, we shouldn’t have demoted the story.“

Here’s Mark Zuckerberg admitting to all of this on Joe Rogan, 2 years ago. pic.twitter.com/vR5i8dHgTP

— ZNO 🇺🇸 (@therealZNO) August 26, 2024

He also points out in the letter that “some people believe this work benefited one party over the other.”

According to Zuck, Facebook “no longer temporarily demotes things in the U.S. while waiting for fact-checkers.”

Speaking of demoting stories, Facebook began censoring ZeroHedge in 2019 – with links to our articles met with a popup that said “the link you tried to visit goes against our community standards.”

In June, the Supreme Court ruled that states and individual plaintiffs who challenged the Biden administration’s censorship complex don’t have standing to sue because they cannot establish a clear link between the government’s pressure and the platform’s actions.

What will Jim Jordan do with this information?

Now imagine if we had a real Speaker of the House and a GOP with a spine so that we would do something about this.

7:06 PM · Aug 26, 2024

·

351.8K Views

Now imagine if we had a real Speaker of the House and a GOP with a spine so that we would do something about this.

— Gunther Eagleman™ (@GuntherEagleman) August 26, 2024

END

LOS ANGELES

“It Was So Brazen”: Squatters Seize Multi-Million Dollar Mansion Next To LeBron James

Monday, Aug 26, 2024 – 05:20 PM

Los Angeles Realtor to the stars John Woodward says squatters have taken over a multi-million dollar mansion across the street from LeBron James.

Soon after listing the property at 1316 Beverly Grove Place in Beverly Hills, Woodward got a call from the pool boy letting him know that someone had shown up with a U-Haul to move in. Given that he hadn’t sold the house yet, he drove down to see what was going on – and ended up calling the police to report an active crime; these people were breaking into the house.

According to the Daily Caller, when the police showed up, the squatters produced a fake lease, which the cops of course accepted as proof, and told Woodword to pound sand – forcing him to pursue justice through the backlogged and ideologically biased LA court system.

“These guys are professional squatters,” he told the Caller. “They know what they’re doing, they know they’re going to eventually be kicked out of there, but they get a free place in a nice neighborhood before the legal system kicks in.”

And boy did the squatters enjoy their time. The quiet, affluent neighborhood turned into the biggest party street in Los Angeles. For months, the squatters hosted all-night raves filled with hundreds of people, illicit drug use and thumping dance music that lasted into the morning. They even allegedly sold entry to the parties, making thousands off the stolen property.

It was so brazen, you would think the police would shut it down after one night — especially in a ritzy neighborhood like Beverly Hills. That’s all we hear from the media these days; the police only care about helping rich white people. -Daily Caller

One neighbor, Fran Solomon, was forced to flee her dream home after police refused to do anything about the parties.

“They were loud, they were disruptive. The fire trucks would come in, the police would come in. The neighbors would be calling the police and nothing was able to be done about this,” Solomon explained to the Caller.

“We realized that they were squatters,” she continued, “and squatters, I guess, have rights.”

After months of media attention, the squatters were finally evicted.

One California handyman has found a way to get rid of squatters…

As the Epoch Times reports, Squatting is a widespread problem, says Flash Shelton, a handyman and anti-squatting activist from Northern California. But he says he’s found a solution.

Shelton said he successfully got his mother’s house back from a group of squatters in 2019. He has since turned his experience into a career, helping others facing similar situations.

Shelton said on a recent episode of EpochTV’s “California Insider” that in 2019 after his father passed away, he moved his mother into his home. However, when they tried to sell her house, he discovered that a group of people had broken in and taken over.

After contacting law enforcement, he quickly learned that since the squatters had moved in with furniture to make it appear they lived there, it was considered a civil matter rather than a criminal one, leaving the authorities unable to act.

Although squatting or trespassing on a vacant property is illegal in California, the situation becomes complicated when law enforcement are unable to determine whether people are trespassers or have a legitimate claim to the space.

The presence of furniture and personal belongings can create the appearance of a tenant-like situation, which may force the property owner to follow formal eviction procedures rather than having the squatters removed as trespassers.

Instead of enduring the lengthy eviction process, Shelton found a “backdoor” solution: becoming a squatter in his mother’s house to oust the squatters.

“I figured that if I could become their squatter and switch places with them, that I would assume those rights,” he told the show’s host, Siyamak Khorrami.

He asked his mother to sign a lease granting him legal rights to the property. He then returned to the house and set himself up as the new “tenant.”

“As soon as they left the driveway, I went into the house, secured the back door, put up cameras, set up an alarm system, and then when they arrived back, I told them I have possession of the house,” he said.

The squatters eventually left.

Vulnerable Seniors

His story later went viral online, leading other homeowners facing similar situations to reach out to him for help.

“I’m running into people that have been squatting for years, and elderly people that have been living with squatters for multiple years because they don’t have the resources or the family to help them,” Shelton said.

He said many seniors are vulnerable to squatters, because individuals can exploit the seniors’ need for live-in caregivers and move into a home legally.

Shelton highlighted the case of an 88-year-old woman in Culver City who initially thought a caregiver was moving into her home, but the woman did not provide any caregiving.

The elderly woman contacted the caregiver’s employer to have her removed but was told they had fired the caregiver and could not help remove her from the house.

Shelton said these cases often leave homeowners with no choice but to seek legal assistance, which can be both daunting and expensive.

He cited another case where a family returned from a two-week vacation to find their home occupied by a squatter. They spent $138,000 and endured a year-long legal battle to reclaim their property, all while continuing to pay their mortgage.

“There’s a misconception that if you own a home, you have money,” Shelton said. “But people that own a home will argue that just because you own a home, you own a mortgage, you don’t own a bank account.”

Shelton also noted other types of squatters, including those who sign a lease and pay only the first month’s rent before stopping payments, and individuals who turn Airbnb units into party venues, charging admission or offering rentals on properties they do not own.

Calling himself the “Squatter Hunter,” Shelton now owns a business that helps homeowners nationwide remove squatters in a legal and safe way.

According to his website, Shelton first consults with the clients via Zoom. Then his team signs a month-to-month lease with the homeowner and moves in with the squatters, similar to his approach in his mother’s case. He also coordinates with law enforcement beforehand to ensure safety during the process.

Don’t Turn Off the Lights

He advises property owners not to turn off utilities, as this can lead to legal issues. In California, shutting off utilities as a “self-help” eviction tactic is illegal.

“Not only is it against the law, but if you turn off the utilities on a squatter, it gives them the option to turn the utilities on in their name,” he said. “If they have the utilities, they will have more proof that they live there.”

He also recommends homeowners install cameras and alarm system to document break-ins or trespassing, allowing them to report incidents to law enforcement promptly.

Additionally, he advises using locking mailboxes to prevent squatters from accessing any mail sent to the property.

“It could be as easy as them starting to send mail to the address and then finding one time that you’re not home and they get to the mail first,” he said. “They pull out things with their name on the mail and keep it with them.”

“Now they break into your home when you’re on vacation. All they needed was a [piece of] mail to show law enforcement that they live there.”

Solving the Root Problem

Most importantly, Shelton said, laws must be changed to protect homeowners.

“The lines between tenants and squatters are blurred. Right now, squatters are taking advantage of the fact that California is a very tenant-friendly state,” he said.

The rise in squatting is due to a lack of consequences, according to Shelton. He said that introducing jail time or penalties would greatly deter people from squatting.

“If we can change the laws so that squatting is actually a criminal offense instead of a civil one, it’s going to prevent squatting,” Shelton said. “[We can] make a clear distinction between squatters and tenants, giving tenants all the rights they deserve, but making that threshold higher.”

He added that his goal is not to evict needy individuals but to hold accountable those who exploit legal loopholes.

“Homeless people have more pride than squatters,” Shelton said. “I have a heart for the homeless. My family and I were homeless when I was a kid.

“It’s the career squatter … that intentionally harms others. Those are the ones that are not safe. I’m going to do everything I can to get your home back and get those squatters out where they belong.”

END

Good question:

If Everything Is So Great, Why Are Millions Of Americans Sleeping In Their Vehicles?

TUESDAY, AUG 27, 2024 – 07:20 AM

Authored by Michael Snyder via TheMostImportantNews.com,

Have you noticed an unusual number of vehicles in the parking lots of major retailers in your area at night?  If you look closely enough, you will see that many of those vehicles actually have people sleeping in them.  At this point, millions of Americans are sleeping in their vehicles every night.  This is happening even though we are being told that the economy is just fine.  But of course the truth is that the system is failing all around us.  So if you get to sleep in a very warm bed in a very warm home, you should consider yourself to be very blessed, because vast numbers of people are really struggling right now.

The primary reason why so many people are living in their vehicles is because the cost of living has soared to unprecedented heights.

In particular, the cost of housing has become extremely oppressive.  In fact, housing in the United States has become more unaffordable than it has ever been before.

This week, I was stunned to read about a 33-year-old man named Ishan Abeysekera that is paying $2,100 a month to share a house with 23 other people…

In a city as notoriously expensive as New York, it’s common to see people in their late 20s and early 30s living with roommates to help manage the high cost of living.

But Ishan Abeysekera has taken that to the next level with his current living situation in Brooklyn: a communal building that he shares with a whopping 23 other people.

“When I say I have 23 housemates, people are like ‘What? That sounds wild,’” Abeysekera tells CNBC Make It. “But actually, it’s quite nice.”

That is nuts!

Who would pay that much to live with 23 total strangers?

Of course most Americans can’t afford to pay $2,100 a month for housing.

For example, it is being reported that some flight attendants that work for American Airlines are “sleeping in their cars” because the pay is so low…

Most new flight attendant hires are required to live in cities like Dallas, Miami, and New York, which have high costs of living that they cannot afford, Hedrick noted.

American flight attendants are sleeping in their cars, she said. Some of them fight for trips just for the chance to eat the plane meals, if the pilots don’t take their meals first.

“Our new hire flight attendants are struggling,” Hedrick said, adding that new hires most strongly rejected the 17% hike.

When I was growing up, I always thought that those that were selected as flight attendants had very good jobs.

But those days are long gone.

In this economy, many flight attendants can’t even afford a place to live.

Of course there are millions of others in a similar position.  In recent years, “van life” has become quite trendy, and more than 3 million Americans now fall into this category…

“Van life” or “van living” is a term that is becoming more popular around the country. People packing up their lives, moving into a mobile unit and exploring the states.

According to Yahoo Finance, the number of American van lifers has increased by 63% over the last couple of years, going from 1.9 million in 2020, to 3.1 million in 2022.

In the old days, if you lived in a van down by the river you were considered to be a bum.

But in this economy, living in a van down by the river is just considered to be normal.

Needless to say, there are some “van lifers” that choose the lifestyle because of the freedom it offers.

But there are many others that have been forced into this lifestyle.  A woman named Michelle Rose that used to own a home in Montana is one of them…

Three and a half years ago, at the beginning of the pandemic, Michelle Rose was about to lose her Montana home, was having issues with her job, lost her mother, and put everything she owned into a van to live in it permanently.

“I was like let’s just do this, let’s just sell the house and get on the road and we will figure out things as we go. It has sort of been a by the seat of my pants kind of life,” said Rose.

Michelle says that finances are the hardest part of van life for her, it is a constant worry and finding work is also challenging.

Another woman named Katie that “works as a manifestation coach and at a local coffee shop” admits that it was a tough mental adjustment when she started to live out of her vehicle…

Katie J., who works as a manifestation coach and at a local coffee shop, spoke about the mental legwork she had to work through in order to reach a sense of belonging in the community.

“Van life is fun and cool and saves money and it’s flashy on Instagram and stuff,” Katie J. said, “but it will bring up a lot for you to work through when it comes to not having roots somewhere … I’m a black woman and I’m already rare in Truckee as is, so to be also living in a van, I had so much stuff around that, so much shadow work to do around the limiting beliefs and feeling like I’m not supposed to be here, and I shouldn’t be parking here and I’m gonna get in trouble.”

A lot of these people have jobs, and a lot of these people would not be officially classified as “homeless”.

But the cost of living crisis has driven them to the brink of losing everything.

Unfortunately, our leaders never seem to learn.  They keep borrowing and spending money at an unprecedented rate, and this continues to create even more inflation.

If you can believe it, our government is even spending “up to a quarter million taxpayer dollars” to teach Iraqi kids how to be climate activists…

The State Department is offering up to a quarter million taxpayer dollars to an eligible nonprofit to teach Iraqi teenagers about climate activism.

Iraqi high schoolers could receive “Eco Action Clubs” bankrolled by taxpayers that will teach them how to advocate for environmental reform in their home country, according to a grant solicitation posted by the State Department earlier this month. The clubs will have several objectives, ranging from developing an “eco-agenda and action plan” which will generate “climate change solutions” to running a social media campaign to increase awareness of the climate crisis.

We are literally committing national suicide, but most of the population doesn’t seem to care.

Every election cycle, the big spenders are sent back to Washington over and over again.

Meanwhile, more Americans are being forced to sleep in their vehicles with each passing day.

Please do not look down on those that have been forced to sleep in a vehicle, because with a bit of bad luck just about anyone could end up in the same situation.

*  *  *

Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

end

Now Tulsi Gabbard joins Kennedy. She will garner the veteran votes

(zerohedge)

Ex-Democrat Tulsi Gabbard endorses Donald Trump in 2024 presidential race

Former 2020 Democratic candidate backs the Republican nominee and accuses Harris of ‘abuse of power’

David Smith in WashingtonMon 26 Aug 2024 21.27 BSTShare

Tulsi Gabbard, a former Democratic congresswoman, has endorsed the Republican nominee, Donald Trump, in the US presidential election.

Gabbard, who served in the military in Iraq, ran for president in the Democratic primary in 2020. She quit the party two years later and has become a fixture at conservative conferences and in rightwing media.

Addressing a National Guard Association conference in Detroit, Michigan, where Trump was speaking, Gabbard said: “This administration has us facing multiple wars on multiple fronts in regions around the world and closer to the brink of nuclear war than we ever have been before.

“This is one of the main reasons why I’m committed to doing all that I can to send President Trump back to the White House, where he can once again serve us as our commander-in-chief. Because I am confident that his first task will be to do the work to walk us back from the brink of war.”

Gabbard, who represented Hawaii in Congress and is a former vice-chair of the Democratic National Committee, accused the Democratic nominee, Kamala Harris, of retaliating against political opponents, undermining civil liberties and weaponising America’s institutions against both Trump and herself.

“We as Americans must stand together to reject this anti-freedom culture of political retaliation and abuse of power,” she added.

Gabbard’s announcement comes a day after Robert F Kennedy Jr, scion of a Democratic dynasty, suspended his own White House bid and threw his weight behind Trump. Elon Musk, who describes himself as “historically a moderate Democrat”, is also backing the former president.

Trump, who has been portraying Harris as a leftwing extremist, told the gathering on Monday: “This fight is no longer between Democrats and Republicans. This is a fight between communism and freedom.

“It’s a very serious fight. That’s why millions of traditional Democrats, including FDR Democrats, JFK Democrats, independents and old-fashioned liberals are joining our movement. Our poll numbers are great.”

Trump admitted that he had not been aware that Gabbard served as a lieutenant-colonel in the army. “She’s a special person,” he added. “She’s got great common sense, great spirit. She loves our country and she loves the people in this room.”

Ex-Democrat Tulsi Gabbard endorses Donald Trump in 2024 presidential race

Former 2020 Democratic candidate backs the Republican nominee and accuses Harris of ‘abuse of power’

David Smith in WashingtonMon 26 Aug 2024 21.27 BSTShare

Tulsi Gabbard, a former Democratic congresswoman, has endorsed the Republican nominee, Donald Trump, in the US presidential election.

Gabbard, who served in the military in Iraq, ran for president in the Democratic primary in 2020. She quit the party two years later and has become a fixture at conservative conferences and in rightwing media.

Addressing a National Guard Association conference in Detroit, Michigan, where Trump was speaking, Gabbard said: “This administration has us facing multiple wars on multiple fronts in regions around the world and closer to the brink of nuclear war than we ever have been before.

“This is one of the main reasons why I’m committed to doing all that I can to send President Trump back to the White House, where he can once again serve us as our commander-in-chief. Because I am confident that his first task will be to do the work to walk us back from the brink of war.”

Gabbard, who represented Hawaii in Congress and is a former vice-chair of the Democratic National Committee, accused the Democratic nominee, Kamala Harris, of retaliating against political opponents, undermining civil liberties and weaponising America’s institutions against both Trump and herself.

“We as Americans must stand together to reject this anti-freedom culture of political retaliation and abuse of power,” she added.

Gabbard’s announcement comes a day after Robert F Kennedy Jr, scion of a Democratic dynasty, suspended his own White House bid and threw his weight behind Trump. Elon Musk, who describes himself as “historically a moderate Democrat”, is also backing the former president.

Trump, who has been portraying Harris as a leftwing extremist, told the gathering on Monday: “This fight is no longer between Democrats and Republicans. This is a fight between communism and freedom.

“It’s a very serious fight. That’s why millions of traditional Democrats, including FDR Democrats, JFK Democrats, independents and old-fashioned liberals are joining our movement. Our poll numbers are great.”

Trump admitted that he had not been aware that Gabbard served as a lieutenant-colonel in the army. “She’s a special person,” he added. “She’s got great common sense, great spirit. She loves our country and she loves the people in this room.”

END

Restaurants adding junk fees to stay afloat

(zerohedge)

FTC To Battle Restaurants Over “Junk Fees” Added To Customer Checks

Tuesday, Aug 27, 2024 – 07:45 AM

Another day, another way the government is trying to micromanage businesses and the economy.

This time its restaurants that are fighting back against government regulation of “junk fees”, defined as surcharges or fees added on to bills to cover anything from credit card processing, to taxes, to inflation to tips. 

According to the National Restaurant Association, 15% of restaurant owners added surcharges last year due to rising costs, according to CNBC. 

And a recent Square report shows that 3.7% of restaurant transactions in the second quarter included a service fee, more than twice the rate at the start of 2022.

Critics argue these fees can catch customers off guard, making them pay more at a time when budgets are tight. Frustrated diners have even created spreadsheets on Reddit listing restaurants in Los Angeles, Chicago, and D.C. that charge hidden fees.

The CNBC report says the Biden administration is targeting “junk fees,” such as hidden charges on concert tickets and unexpected hotel resort fees. The Federal Trade Commission is expected to introduce a rule banning deceptive fees this fall.

Additionally, the U.S. Labor Department is proposing a rule to prevent financial advisors from recommending investments that benefit them more than their clients.

Meanwhile, restaurants are pushing back, arguing that surcharges are essential for their survival and fair employee compensation.

Sean Kennedy, executive vice president of public affairs for the National Restaurant Association said: “The challenge for the restaurants is that not all fees are junk fees … People know what they’re paying for when it comes to most fees that are on a restaurant bill.”

While some customers may disagree, restaurants like Galit, a Middle Eastern restaurant in Chicago, opened in 2019 with an optional 2% fee for workers’ health care, which has since increased to 4%. Additionally, a 20% service charge is added to each bill to support hourly staff. These fees are clearly listed on the restaurant’s website, Resy page, and menu.

Co-owner and general manager Andres Clavero, who has an accounting background told CNBC: “We can dictate where it all goes, so some of our service charge of 20% goes to the back of house.” 

Even restaurant operators acknowledge that some fees aren’t justified, the report concludes. Clavero, for example, opposes the use of Covid surcharges by restaurants more than four years after the pandemic closed dining rooms.

“What we have really been instilling in or membership is to be as open and transparent and public about it as possible, so customers know exactly what they’re getting into when they sit down to dine at their favorite restaurant,” Kennedy concluded. 

END

RV industry in deep trouble

(zerohedge)

RV Downturn Turns Apocalyptic With Largest Dealership Offering 55% Discounts

by Tyler Durden

Tuesday, Aug 27, 2024 – 06:02 AM

Federal Reserve Chair Jerome Powell has been a serial bubble blower, only to later deflate bubbles through interest rate hikes and restrictive monetary policies. In this note, we’ll examine the recreational vehicle industry’s boom and bust and the current multi-year downturn. 

In early 2020, a combination of factors sparked the RV boom, including Fed Powell’s reduction of interest rates to the zero lower bound and Democratic cities that imposed tyrannical government-enforced lockdowns that caused folks to flee to rural America. To some extent, Starlink space internet made remote working from RVs possible in some of the most remote areas in the nation. However, as soon as Powell began to hike rates in response to inflationary forces in early 2022, the boom turned into a bust as the affordability of these homes on wheels collapsed. 

The RV bust has now persisted beyond the two-year mark, and to understand the industry’s current environment, look no further than Lazydays, an RV dealership with over two dozen locations nationwide, which bills itself as the world’s largest. The company recently reported significant revenue declines and sluggish sales, with no immediate recovery.

Powell slays the RV bubble with interest rate hikes. Notice how Lazydays’ revenue began to slide shortly after the hikes started. 

“Our best view is that the second quarter sales trajectory continued in July, and most industry experts are pointing to 2025 as the likely inflection for a meaningful industry recovery,” Lazydays CEO John North told analysts in a recent call discussing second-quarter results. 

North said, “So, facing that backdrop, we have continued to focus on the things we can control, maintaining healthy vehicle inventory, improving F&I per unit and achieving substantial total gross margin improvement sequentially from the first quarter.”

With discounts of up to 55% on RVs listed on the Lazydays website, North’s remark about “maintaining healthy vehicle inventory” might hint at a different reality: way too much inventory…

Across the industry, seasonal data from the RV Industry Association shows shipments are below a 16-year average for this time of year. 

With Powell likely to embark on an interest rate-cutting cycle on Sept. 18, the question becomes if North’s prediction of a bottom in the RV industry will be realized at some point in 2025. If so, Lazydays’ shares are down 75% on the year, and it might be worth throwing this ticker on the bottoming watchlist. 

END

De-Dollarization & Multipolarity Plans Top Agenda For October BRICS Summit: Report

TUESDAY, AUG 27, 2024 – 10:20 AM

Authored by Andrew Korybko via Substack,

If the Hindu Business Line’s source is correct, then the next summit will reaffirm its members’ voluntary right to de-dollarize their trade with each other (thus not obligating them to be drawn into the yuan’s orbit) and possibly make progress on a BRICS currency basket.

The Hindu Business Line cited an unnamed official to report on Monday that October’s BRICS Summit in Russia’s Kazan might see a non-binding agreement on de-dollarizing trade between member states. They also claimed that the much ballyhooed “BRICS currency” will be notional and have its value derived from a basket of currencies. What follows are their source’s exact words, which will then be analyzed in order to place them into context and assess the viability of these reported proposals:

“New Delhi is examining an appropriate response based on the extent to which it would benefit economically and diplomatically from the proposals without increasing its vulnerabilities vis-a-vis China.

It is each according to its comfort level. Within BRICS if you agree for currency settlement, you may choose not to do with x country, while doing with others.

If India chooses not to do with China in yuan and rupee, it is okay. But it may do with other countries, for instance the rouble or rand. For instance, Russia can ship out the surplus rupee that is collected in its vostro accounts in India, convert it into Brazilian [reals] to pay Brazil for some transaction. Or it can convert it into South African rand to make payment to South Africa.

The BRICS currency will be a notional currency and not a currency in physical form. The issue is how does one peg the value for it. Naturally, the value will derive from the value of all the currencies in the basket put together. Notionally, one gets the impression that yuan is a dominant currency. So, it will have a greater weightage. India has to see whether that will be acceptable to it.”

For starters, BRICS is a voluntary collection of countries with a shared interest in accelerating financial multipolarity processes. It doesn’t have a secretariat nor even a charter, but its joint statements throughout the years enable observers to obtain an understanding of its working culture. There’s no mechanism to enforce compliance with their declarations so cooperation has to be built on trust. That’s why everything that they agree to is already non-binding and always will be.

This is very relevant as regards their members’ shared goal of de-dollarization.

India is the world’s fifth-largest economy and is on pace to become its third-largest one by the end of the decade. It accordingly envisages the rupee playing a larger role in global trade, but that would be difficult to do if the global financial system bifurcates between the American and Chinese superpowers. In that scenario, China could gain an edge over India amidst their rivalry, plus other countries’ sovereignty would be curtailed.

India therefore wants true financial multipolarity, not financial bipolarity, but it also understands that the yuan will indeed hasten its internationalization through BRICS’ de-dollarization efforts. Nevertheless, India is uncomfortable contributing to this trend due to its abovementioned national interests, which is why the source suggested ways in which the yuan could be avoided in trade with fellow BRICS members. China is once again India’s top trade partner, however, so there are limits to how far this policy can go.

The same holds true for BRICS’ currency plans since there’s no doubt that the yuan will become the dominant one in any such basket thereof. India will have to weigh whether it would gain more by contributing the rupee to this or not, but the absence of details about this proposal makes it impossible for observers to do anything more than speculate at this time. On the one hand, it could help internationalize the rupee, but the drawback is that India will also help internationalize the yuan.

Since the yuan’s internationalization is inevitable, India might conclude that it’s better for the rupee to also internationalize alongside the yuan through a BRICS currency basket than to not benefit whatsoever from this proposal seeing as how China will still go through with it even if India doesn’t. India could then focus on de-dollarizing its trade with the Indo-Pacific countries through the use of national currencies instead of China’s to keep the yuan’s internationalization in check and further internationalize the rupee.

In principle, India’s approach is shared by the rest of the world apart from the American and Chinese superpowers of course, each of which prefer for their currency to be the world’s dominant one. Everyone else though would benefit more by balancing between the dollar, yuan, perhaps also the euro, and definitely their own national currency too. The first three facilitate trade with the world’s largest economies while the last can be used bilaterally with everyone else to bolster their national economy.

The challenge is to de-dollarize without replacing dependence on the dollar with dependence on the yuan, but smaller economies have a much more difficult time doing this than larger ones like India. What India can do, however, is internationalize the rupee as much as possible given the constraints of the evolving global financial system in order to chip away at both the dollar’s dominance and the yuan’s rise. The eventual rise of another currency will help advance true financial multipolarity and avert bipolarity.

It’ll admittedly take a long time for the rupee to have such an impact, and it’s always possible that poor financial planning and prioritizing convenience over national interests could torpedo these noble plans, but the world would objectively benefit by India counteracting financial bipolarity processes. As the fastest-growing major economy that’s on pace to become the third-largest one by the end of the decade, India has a huge role to play in this respect, and BRICS can do a lot to help it along.

If the Hindu Business Line’s source is correct, then the next summit will reaffirm its members’ voluntary right to de-dollarize their trade with each other (thus not obligating them to be drawn into the yuan’s orbit) and possibly make progress on a BRICS currency basket. The first indisputably serves India’s interests while the second very well could too but it’s still too early to say without knowing the details. In any case, these reported plans will further erode the dollar’s dominance, thus weakening US hegemony.

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and  PERVASIVE ANTISEMITISM/WOKISM

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

VDH

The Quiet Before The Storms In Ukraine, Gaza, And Taiwan?

Monday, Aug 26, 2024 – 11:25 PM

Authored by Victor Davis Hanson via American Greatness,

There are three current hot or cold wars: on the Ukrainian border, in the regions surrounding Israel, and in the strategic space between Taiwan and mainland China.

All three conflicts could not only expand within their respective theaters but also escalate to draw in the United States.

And all three involve nuclear powers.

• Various Russian megaphones routinely threaten to use tactical nuclear weapons against Ukraine. Some boast about sending strategic nuclear bombs or missiles against its Western suppliers, especially as the costs of Russian aggression mount and the humiliation of Putin escalates.
• Nuclear Israel and near-nuclear Iran have both exchanged attacks on their respective homelands—and promise to do so again.
• China likewise on occasion existentially threatens Taiwan. Its freelancing generals and spokesmen periodically warn Japan and the U.S. of dire nuclear consequences should they intervene on Taiwan’s behalf.

In all these theaters, there superficially appears to be stasis and deadlock:

• Israel is said to be bogged down in Gaza as it seeks to neutralize 400 miles of subterranean command-and-control installations and munitions, find and rescue surviving Israeli hostages, and take out the Hamas leaders. And no one believes that the degradation of Hamas will mark the end of the war, given the agendas of Hezbollah, the Houthis, and Iran, to attack periodically and chronically the Jewish state.
• Combined Russian and Ukrainian dead, wounded, and missing may be nearing one million. Experts argue about whether the current apparently successful Ukrainian counteroffensive towards Kursk inside Russia was merely a demonstration to gain diplomatic concessions. Or was it designed to take and hold ground inside the Russian homeland? Or intended to draw off Russian offensives to the southeast? Some call it brilliantly conceived but dangerous—given the risk of its ending like the ill-fated Battle of the Bulge German offensive of 1945 that achieved startling initial success but was soon ground down by superior numbers and ultimately weakened the overall German defense.
• China has stepped up its harassment of Philippine forces and its rhetoric. It has upped its intrusions into Taiwanese airspace and waters while cementing strategic partnerships with Russia and Iran, even as it courts India and Turkey. Yet for now, China is not especially eager to attack Taiwan, given that it feels it is steadily gaining momentum in psychologically, strategically, and politically strangling the Taiwanese.

Confusion and strategic pauses for the brief moment mark all these conflicts. In part, the hiatuses arose because of uncertainty surrounding the murky intentions and role of the United States. The latter is bogged down in an unpredictable if not bizarre election year, compounded by ambiguity about who is actually in control of the country and for how long, and who will be president after January 2025.

The 2024 race saw the first-ever presidential debate held well before the formal nomination of candidates, the sudden forced removal of President Biden from his reelection candidacy, the abrupt coronation of a once-deemed-unimpressive Kamala Harris as his replacement, the inability or unwillingness of Harris to meet the media or give interviews, the continued apparent debility of Biden as he enters the last six months of his presidential tenure, the assassination attempt on Donald Trump, and the near-even presidential polls.

While Russian and Ukrainian forces advance and retreat along their shared border, most experts privately feel that there is quiet consensus about an eventual armistice to end the Somme-like bloodbath. This will involve recognition of Russia’s control over the Donbas and Crimea that Putin attacked and de facto absorbed in 2014; a demilitarized border; and an autonomous and heavily armed but non-NATO Ukraine.

Currently, Ukraine is running out of manpower, given its losses, draft problems, and a quarter of the population having fled the country. Russia has suffered twice as many casualties as Ukraine and faced blows to its military prestige. It has so far found no tactical or strategic pathway to absorb Ukraine as it intended with its February 2022 surprise attack on Kyiv.

Yet the apparent ossification on the border may be illusory. If either side cracks and its enemy suddenly makes dramatic advances, a dangerous escalation could ensue, and rapidly so. Russia will likely not allow Ukraine to occupy for any extended period any Russian territory and will up its threats toward what it sees as an exhausted Ukraine and a tired NATO partnership.

And NATO and the United States will likely never allow Russia to annex Ukraine in toto beyond the Donbas and Crimea. The longer the ensuing stagnation, the more likely one side will seek a dramatic breakthrough, and so the more likely becomes a greater war with third-party intervention and deadlier weapons.

Turning to the second conflict, we find that Iran is now in a dangerous position of its own making. It has loudly promised Israel and boasted to the Muslim world that it will attack the Jewish homeland for a second time within a year. Hezbollah threatens to join in, perhaps along with anemic contributions from Hamas and the Houthis.

Yet does Iran really believe that even a missile and drone launch twice the size of its last huge but failed barrage—say 640 projectiles—will seriously injure Israel? Even with the confusion and chaos in the U.S., is Tehran really convinced that the U.S. and some of its European and Arab allies will not again intervene to protect their own assets or their own or international airspace, by knocking down Iranian aerial attacks?

In short, Iran’s rhetoric and the provocations of its satellites have put it in a lose/lose situation: to save face the theocracy feels it must honor its threats and attack Israel, but it also knows it may not be able to do much damage, while earning a second retaliatory response potentially far more grievous and far more warranted in international eyes than Israel’s prior successful but largely demonstrative missile launch.

Ditto Hezbollah. It hopes that its some 150,000 rockets and drones will do real damage in concert with an Iranian attack but accepts that it will certainly earn in response a devastation of Shiite Beirut and its environs far in excess of what it suffered in 2006. The damage from that conflict took a generation to repair, with hundreds of miles of roads, thousands of homes, and billions of dollars in infrastructure destroyed.

So, like the Ukrainian conflict, the Middle East war is only temporarily on pause. And it will continue until Iran or Israel seeks to break the stalemate in a second phase that would make the Gaza campaign seem minor in comparison and be far more likely to draw in outside powers—especially if the United States appears feeble and unable to protect its traditional ally Israel.

As for the third, still-bloodless conflict: China envisions strategy globally rather than regionally. It helps to fuel the stalemate in Ukraine, on the grounds that its traditional rival turned temporary friend Russia is hurting the West by consuming its money, weapons, and attention—while conveniently hurting itself in the process.

China is openly aiding Iran, not because it is especially friendly to radical Islam (cf. its treatment of the Uyghurs) or innately hostile to the Jewish state. Instead, it simply welcomes these tensions that cause radical domestic upheaval and political dissension inside America, while drawing U.S. naval and air assets far away from the South China Sea.

China’s operating principle seems to be to watch and wait for the outcome of the wars in Ukraine and the Middle East, given that both tax Western powers. It is eager and patient to see how the conflicts end, especially whether Russia achieves by force its apparent goals, and whether Iran and its proxies permanently redefine the future of the Middle East. These outcomes will serve to indicate the level of potential Western resistance to or intentional condemnation of its own planned annexation of Taiwan.

In conclusion, we are entering a very dangerous five-month period.

Joe Biden has been judged by the American people in the polls as too enfeebled to be reelected and declared by his own party to be too cognitively challenged to remain its nominee. That may suggest to foreign risk-takers that the U.S. president is deemed unfit by Americans themselves and thus conclude there might be a vacuum of rapid-response leadership at the White House.

The unspoken corollary is that the American people and both their political parties are certain that, while Biden is incapable of continuing as a normally engaged president through the last half-year of his tenure, he will nevertheless inevitably do so. And that conclusion is likely shared by enemies abroad, who may surmise that if there ever was a time to alter the current geostrategic map or the relative balance of power, that rare occasion is now on the horizon.

SWAMP STORIES

Looks like accounting fraud at Super Micro. It plunged 8% after new revelations from Hidenburg

(zerohedge)

Super Micro Shares Plunge 8% After Hindenburg Shorts, Claims “Fresh Evidence” Of Accounting Manipulation

TUESDAY, AUG 27, 2024 – 09:30 AM

Short seller Hindenburg Research, known most recently for its long-running feud with Adani Enterprises, set its sights on a well known American target today: Super Micro Computer.

Heading into the cash open, shares are lower by about 8%. 

In a report released on its website Tuesday morning, the short seller alleged that the semiconductor/server company, which has seen its stock skyrocket over the last few years during the AI bubble, could be engaged in accounting manipulation and self dealing among family members.

Among other points, Hindenburg wrote:

• Our 3-month investigation, which included interviews with former senior employees and industry experts as well as a review of litigation records, international corporate and customs records, found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues.
• Less than 3 months after paying a $17.5 million SEC settlement, Super Micro began re-hiring top executives that were directly involved in the accounting scandal, per litigation records and interviews with former employees.
• A former salesperson told us: “Almost all of them are back. Almost all of the people that were let go that were the cause of this malfeasance.”
• According to a lawsuit filed in April 2024, Super Micro waited only 3 months after the SEC settlement before restarting “improper revenue recognition,” “recognizing incomplete sales,” and “circumvention of internal accounting controls”.
• Even after the SEC settlement, pressure to meet quotas pushed salespeople to stuff the channel with distributors using “partial shipments” or by shipping defective products around quarter-end, per our interviews with former employees and customers.
• One former salesperson described pushing products to distributors based on made-up demand forecasts, completing a partial shipment, then later coming up with an excuse for why the rest didn’t happen. “And now you have a problem. Accounting problem maybe.”

“Beyond fresh questions around its revenue accounting, we found that Super Micro’s relationships with both disclosed and undisclosed related parties serve as fertile ground for dubious accounting,” the report says.

“For example, disclosed related party suppliers Ablecom and Compuware, controlled by Super Micro CEO Charles Liang’s brothers, have been paid $983 million in the last 3 years. Ablecom is also partly owned by Super Micro CEO Charles Liang and his wife.”

It continues: “The relationships seem oddly circular. Super Micro provides components to the entities which assemble them and sell them back to Super Micro. They also rent warehousing and factory space to Super Micro even though it has its own sprawling factory.”

“Multiple former employees and channel partners confirmed that after-sales service is undermining Super Micro’s ability to retain customers. One former salesperson said: ‘It’s their Achilles heel. It’s just horrible.’,” Hindenburg wrote.

“All told, we believe Super Micro is a serial recidivist. It benefitted as an early mover but still faces significant accounting, governance and compliance issues and offers an inferior product and service now being eroded away by more credible competition,” the report says.

You can read the full report here. 

We’ll update this piece when and if the company responds. 

end

Failed Border Czar Kamala Harris Now Vows To Build Trump’s Wall

TUESDAY, AUG 27, 2024 – 09:55 AM

After presiding over the worst illegal immigration crisis in US history, failed ‘border czar’ Kamala Harris has now pledged to spend hundreds of millions of dollars to build a wall at the southern US border – a plan she called “un-American” during the Trump administration.

According to Axios, which calls it the “latest example of Harris flip-flopping on her past liberal positions,” Harris is now embracing a ‘more hawkish’ immigration policy while the Trump campaign spends tens of millions of dollars on attack ads over the Biden-Harris administration’s failed border policies.

Last week, Harris told the Democratic National Convention that she would sign a recent bipartisan border security bill negotiated by Sens. James Lankford (R-OK) and Chris Murphy (D-CT), which calls for hundreds of millions of dollars of unspent funds to be used to continue Trump’s wall.

“It requires the Trump border wall,” Lankford told Axios. “It is in the bill itself that it sets the standards that were set during the Trump administration: Here’s where it will be built. Here’s how it has to be built, the height, the type, everything during the Trump construction.”

In 2017, then-Senator Harris called Trump’s border wall project a “stupid use of money,” and committed to blocking funding for it.

Then, under her watch as the so-called “Border Czar,” illegal crossings on the southern border spiked (at least) 140% compared to numbers seen during the Trump administration, according to the House Committee on Homeland Security.

After Democrats gained control of the House in 2019, they opposed the large-scale funding Trump requested for the wall – leading to a government shutdown. Eventually, some funding was approved – but was far less than what Trump had requested. In response, Trump declared a national emergency in February 2019 to divert funds from other federal projects to the wall’s construction, which led to various legal challenges.

Last week Harris came under fire for a campaign video which prominently featured images of Trump’s partially built US-Mexico border wall, boasting that her credentials as a “border-state prosecutor” would allow her to get the job done.

The Kamala Harris campaign is up on TV with multiple new ads this a.m. —

This spot is focused on border security

Male voiceover:

"As president, she will hire thousands more border agents and crack down on fentanyl and human trafficking. Fixing the border is tough. So is… pic.twitter.com/qb2wS5CLml

— Medium Buying (@MediumBuying) August 9, 2024

The flip-flop was so brazen that ABC News called her out on it!

🚨 ABC just CALLED OUT Kamala Harris for using video of President Trump’s border wall in her new ads

If even *ABC* is calling her out for her hypocrisy, you know it’s REALLY bad 🤣 pic.twitter.com/R9DakoOKw5

— Nick Sortor (@nicksortor) August 26, 2024

Amazing…

KING REPORT

The King Report August 27, 2024 Issue 7314

Independent View of the News

ESUs vacillated in a 19-handle range, according to swings in the yen/$ from the Nikkei opening until they broke higher after 4 ET.  After increasing the upside range by 5 handles, the rally halted.  ESUs then traded in a 6-handle range until they broke lower at 7:35 ET.  The drop extended the downside range by 6-handles.  An A-B-C rally, for the NYSE opening, then commenced.   ESUs hit a daily high of 5669.00 one minute after the 9:30 ET NYSE opening.  Wise guys were eager to begin the ‘dump’ ASAP.  ESUs then tumbled to a daily low of 5626.50 at 11:58 ET.   Nvidia, which reports results tomorrow, hit -3.85% at 10:40 ET.  Does someone know something?  What is Pelosi Capital Management doing?   After a rebound to 5646.50 at 13:04 ET, ESUs declined anew and hit a new daily low of 5619.75 at 14:09 ET.  The afternoon rally took ESUs to 5638.75 at 14:45 ET.  ESUs then traded in a 6-handle range until they eased a tad lower at 15:30 ET.  That late manipulation appeared at 15:50 ET; but it could only muster a 6-handle rally.  ESUs quickly reversed to the downside and fell to 5628.25 at 15:57 ET.   Because longs were trapped, someone manipulated ESUs to 5638.50 at 15:59 ET.   @Mayhem4Markets: In essence, Fed Funds Futures are pricing in a cutting cycle that resembles 2001-2002 or 2007-2008. Yet there is nothing that suggests that level of cutting aggression is warranted. In 2001 there was a rather significant market crash as the Dot Com bubble imploded. In late 2007 through 2008 we experienced a global financial crisis. Neither of those exigent circumstances exist at present, and there’s nothing to suggest that such scenarios are imminent. Meaning that 200 bps of cuts priced in by the end of July of 2025 is likely an overshoot. Just like we saw an overshoot at the end of 2023, when the market was pricing in 7 cuts in for 2024. https://x.com/Mayhem4Markets/status/1827711299851030581   @charliebilello: The S&P 500 is now 29% higher than where it was when the Fed started hiking rates in March 2022.  (Restrictive policy my…) https://x.com/charliebilello/status/1828062114751107501   California Dems want to help undocumented immigrants buy homes – during presidential race A first-in-the-nation California proposal could make undocumented immigrants eligible for up to $150,000 in state-supported home loans just as immigration has become an incendiary topic in the presidential election… https://www.politico.com/news/2024/08/26/california-undocumented-immigrants-homes-00176253   Op-ed in WSJ: Harris and Schumer Target the Supreme Court Democrats make clear that if they win, they’ll push measures to destroy the judiciary’s independence.    Democrats proclaim their devotion to democratic institutions, but their plan for the court is an assault on America’s basic constitutional structure. The Framers envisioned a judiciary operating with independence from influences by the political branches… https://www.wsj.com/opinion/harris-and-schumer-target-supreme-court-2024-election-destroy-judicial-independence-3ca50d5b   It is crystal clear what the stakes are for the November Election.  Choose wisely, or else! @TrumpWarRoom: This fight is no longer between Democrats and Republicans. It is between Communism and Freedom.   @elonmusk:100%     Less than 30% of Michigan voters think they’re better off now than under Donald Trump https://trib.al/PvKpVLB   Beaucoup Americans are dependent on the government.  They receive entitlements, government jobs and do business with the government.  Most of these people will not tell pollsters their true feelings.   Positive aspects of previous session The yen/$ got above 144; the DJIA closed at record high – with ‘restrictive monetary conditions’.   Negative aspects of previous session The DJTA got hammered; Fangs declined sharply due to Nvidia Oil and gasoline rallied smartly; USUs declined a tad   Ambiguous aspects of previous session Does some know something unpleasant about Nvidia’s results? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5623.60 Previous session S&P 500 Index High/Low: 5651.62; 5602.34   Ex-Vice-Chair of the Democratic National Committee, Tulsi Gabbard, endorsed Trump on Monday.   Tulsi Gabbard: “This administration has us facing multiple wars on multiple fronts and closer to the brink of nuclear war than we ever have been before. This is one of the main reasons why I am committed to doing all I can to send President Trump back to the White House.” https://x.com/theblaze/status/1828134643230744743   @leslibless: Biden just left his week-long vacation in Santa Ynez, California for Dover, Delaware, where he’ll head to Rehoboth Beach for a 9-day vacation. Since stating he dropped out of the race 34 days ago, he’s spent just 6 days at the White House.  WHO IS RUNNING OUR COUNTRY?   Daily Mail: As Joe Biden disembarked Air Force One in the early hours of Tuesday morning in California last week, he was visibly shaking.  It was approaching 5.30am East Coast time and the president had been awake almost 24 hours.     Walking slowly down the plane’s stairs, he struggled to step up into the SUV waiting to take him to the 8,000-acre Santa Barbara ranch where he and his family have just enjoyed a week-long vacation. His Secret Service agents surrounded him, shielding him from the watching cameras, as one gave him a helpful boost into the car.  On the tarmac, First Lady Jill Biden watched, visibly concerned… https://www.dailymail.co.uk/news/article-13778321/Michelle-Obama-feud-Biden-Kamala-Harris-DNC.html   Banks Likely ‘End Game’ for Repo Market as Treasury Supply Grows – BBG The supply of new Treasury coupons is expected to increase by over $3 trillion in the next two years, which means Wall Street will need to find another $200 billion to $400 billion of additional repo… https://www.bnnbloomberg.ca/business/2024/08/26/banks-likely-end-game-for-repo-market-as-treasury-supply-grows/   For the past few months, largely ignored articles about stress in the repo/money markets have appeared.   Today – Nvidia reports after tomorrow’s NYSE close; 0.65 EPS is consensus.  The unexpected Monday decline appears to be due to the surprising Nvidia drop.  The yen/$ weakened to 144 and change.  Though Nvidia rebounded after its early tumble, it retreated each time a rally took NVDA to a ready above -2% for the day.  Ergo, Nvidia should be a key factor today.   The DJIA hit an all-time high; the Russell 2000 was positive until 15:56 ET; and Fangs got slammed.  The late-cycle rotation is back!  Will it continue today?   NQUs are -2.75; ESUs are -2.50; USUs are +2/32, and the yen/$ is 144.68.at 20:25 ET.    Expected economic data: June FHFA House Price Index 0.1% m/m; June S&P CoreLogic 20-city home prices 0.3% m/m; Aug Conference Board Consumer Confidence 100.6   S&P Index 50-day MA: 5491; 100-day MA: 5348; 150-day MA: 5255; 200-day MA: 5103 DJIA 50-day MA: 39,878; 100-day MA: 39,305; 150-day MA: 39,145; 200-day MA: 38,481 (Green is positive slope; Red is negative slope)   S&P 500 Index (5616.84 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 is positive; MACD is negative – a close below 5544.00 triggers a sell signal Daily: Trender and MACD are positive – a close below 5474.57 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5570.36 triggers a sell signal   Dem pollster defends Harris for shunning media: ‘Don’t want her talking to you’ https://trib.al/FsVIOZC   @PhilipWegmann: Harris told reporters on August 8th she wanted “to get an interview scheduled before the end of the month.” There are five days left, and no word on who gets the first sit-down.   Harris preps for debate with Google lawyer (Karen Dunn), creating ‘conflict of interest,’ Trump campaign says –‘Their administration is suing Google, but Harris is taking political advice from the defendant’s lawyer,’ Trump campaign tells Fox News Digital https://www.foxnews.com/politics/harris-preps-debate-google-lawyer-creating-conflict-interest-trump-campaign-says   The Harris and Trump camps are at an impasse over rules, already accepted by both parties for the Sept 10 ABC debate. Team Kamala says the impasse if over their desire to have a hot mic.  Team Trump says the impasse is over Team Kamala’s demand to allow notes!   Politico: We accepted the ABC debate under the exact same terms as the CNN debate. The Harris camp, after having already agreed to the CNN rules, asked for a seated debate, with notes, and opening statements. We said no changes to the agreed upon rules,” JASON MILLER, senior adviser for Trump, told Playbook last night. “If Kamala Harris isn’t smart enough to repeat the messaging points her handlers want her to memorize, that’s their problem. This seems to be a pattern for the Harris campaign. They won’t allow Harris to do interviews, they won’t allow her to do press conferences, and now they want to give her a cheat-sheet for the debate. My guess is that they’re looking for a way to get out of any debate with President Trump.”… https://www.politico.com/newsletters/playbook/2024/08/26/scoop-the-secret-debate-about-the-trump-harris-debate-00176296   @MZHemingway: Harris wants to change the rules so there will be a hot mic during a debate with Trump. This is so she can reprise her “I’m speaking” (“Girl Power”) schtick she did in her Pence debate anytime he spoke and even when he didn’t…. that was SO ANNOYING of her.   @Geiger_Capital: Kamala’s campaign cried for weeks that Trump needed to accept the original debate as negotiated with Joe Biden. He did. Now they want to change it and negotiate their own debate rules.   @TrumpWarRoom on Monday: President Trump reacts to Kamala attempting to change the already agreed upon debate rules: “They’re trying to get out of it because she doesn’t want to debate. She’s not a good debater. She’s not a smart person. She doesn’t want to debate.” https://x.com/TrumpWarRoom/status/1828087234891035041   @greg_price11: Kamala: “So we agree to the original terms of the debate?” Trump: “Okay, I agree.” Kamala: “Cool. the debate about debates is over.” *two weeks of debate prep later*  Kamala: “Actually, we want to change the rules.” Trump: “You can’t do that. We already signed off on them.”  Kamala: “Why are you so afraid to debate!?”   @TrumpDailyPosts on Sunday night: I watched ABC FAKE NEWS this morning, both lightweight reporter Jonathan Carl’s(K?) ridiculous and biased interview of Tom Cotton (who was fantastic!), and their so-called Panel of Trump Haters, and I ask, why would I do the Debate against Kamala Harris on that network? Will panelist Donna Brazil give the questions to the Marxist Candidate like she did for Crooked Hillary Clinton? Will Kamala’s best friend, who heads up ABC, do likewise. Where is Liddle’ George Slopadopolus hanging out now? Will he be involved. They’ve got a lot of questions to answer!!! Why did Harris turn down Fox, NBC, CBS, and even CNN? Stay tuned!!!   Trump considers dropping out of ABC News debate over ‘biased’ interview with Sen. Tom Cotton https://trib.al/NZFL4PA   @AnnCoulter: ATTN DONALD TRUMP:  The Harris campaign is demanding a rule change of NOT muting mics at the debates.  Why? They’re betting you won’t STFU and will lose the debate – as you did with Biden.  1. DON’T AGREE TO THE RULE CHANGE. 2. Learn to STFU.   @TheBabylonBee: Reporter Who Asked Kamala a Question Charged with Hate Crime   @Tim_Walz: Growing up in a small town like Butte, Nebraska – you learn to take care of each other. The family down the road may not think, pray, or love like you – but they are your neighbors and you look out for them. https://x.com/Tim_Walz/status/1826465492950712388   @matthewschmitz: Walz’s claim that he “grew up in Butte, Nebraska” is maybe the strangest of his many fibs. He grew up mostly elsewhere, and only moved to Butte when he was a sophomore in high school. Valentine, where Walz lived before Butte, isn’t exactly a metropolis. Walz indeed had a rural upbringing.  But his recollections are always tidier and more convenient than the reality. https://x.com/matthewschmitz/status/1827909085783617980/photo/1   @GrageDustin: Yes, this is Tim Walz tweeting about his dog Scout. Only problem is that these are two completely different dogs. https://x.com/GrageDustin/status/1828065388325744762   Hangover star Zach Galifianakis blasts Democrats for filling DNC with celebrities instead of focusing on average Americans https://trib.al/4k2sowj   @DC_Draino: I was talking with a big Kamala supporter who believes Trump is a “threat to our democracy.”  I asked them 1 simple question: “Did you vote for Kamala in the primary?” They froze.  No words.  When they finally answered, they said “I don’t want to talk about politics.”   @Peoples_Pundit: This headline is completely untrue (Harris with 7-point lead). The FDU Poll actually found Trump with a 1-point lead until they pushed respondents with gender and race questions THEN RE-ASKED them for whom they would vote. This may be the biggest polling scam of the cycle. https://thehill.com/homenews/campaign/4846433-harris-leading-trump-by-7-points-poll/   A week or so ago, we noted that a major media outlet poll was unreliable because it contained leading and ‘pushing’ questions that insinuated negative themes about Trump.   @foxnewspolitics: Harris conspicuously absent from public memorials honoring service members killed in Afghan exit she backed   Kamala Harris and Joe Biden skipped an Arlington Memorial Ceremony for the 13 troopers who died in Afghanistan on the 3rd anniversary of the disastrous withdrawal.  DJT attended and pounded Harris for her role in the decision.  The MSM tried to deny that Harris was involved.  The receipts say otherwise.   Harris says she had key role in Biden’s Afghanistan withdrawal decision 4/25/2021 – Politico The vice president confirmed she was the last person in the room before Biden made the decision to move forward with withdrawing U.S. troops. https://www.politico.com/news/2021/04/25/harris-afghanistan-biden-withdrawal-decision-484581   Ex-CBS reporter: @SharylAttkisson: If Kamala Harris’s team thought that voters would find her likable and knowledgeable, they would put her before the public as much as possible before the election, rather than minimize her exposure. Interesting.   Vance defends ‘childless cat lady’ comment, says ‘joke’ was ‘willfully misinterpreted’ by Democrats Sen JD Vance said in 2021 that ‘the entire future of the Democrats is controlled by people without children’…  “I regret certainly that a lot of people took it the wrong way. And I certainly regret that the DNC and Kamala Harris lied about it,” the vice-presidential candidate told the outlet… https://www.foxnews.com/politics/vance-defends-childless-cat-lady-comment-says-joke-willfully-misinterpreted-democrats   JD Vance: The US is being run by ‘childless cat ladies’ https://www.foxnews.com/video/6265796735001   Chicago cops received more help for DNC than during height of 2020 riots: retired police chief Chicago PD was not given the same resources to protect the city at the height of the summer 2020 riots, says a retired Illinois police chief – “The security for the DNC is the largest police presence in the history of Chicago, as far as they go back of tracking of all local, state, county, suburban federal agencies, there’s never been a larger police presence ever,” retired Riverside, Illinois, police chief Tom Wetizel told Fox News Digital in an interview… https://www.foxnews.com/politics/chicago-cops-received-more-help-dnc-than-during-height-2020-riots-retired-police-chief   Governor Abbott (TX) Announces Over 1 Million Ineligible Voters Removed From Voter Rolls https://gov.texas.gov/news/post/governor-abbott-announces-over-1-million-ineligible-voters-removed-from-voter-rolls   @JackPosobiec: Axios reports McConnell’s office OPPOSES plan to include SAVE Act in Sept 30 spending package. The SAVE Act would prevent illegal aliens from voting in 2024. Are you paying attention yet? https://www.axios.com/2024/08/25/mcconnell-republicans-save-act-immigrant-voting   @JudiciaryGOP: Mark Zuckerberg just admitted three things: 1. Biden-Harris Admin “pressured” Facebook to censor Americans. 2. Facebook censored Americans. 3. Facebook throttled the Hunter Biden laptop story. https://x.com/JudiciaryGOP/status/1828201780544504064

GREG HUNTER

SEE YOU ON WEDNESDAY//