GOLD PRICE CLOSED DOWN $14.65 TO $2503.50

SILVER PRICE DOWN $.76 TO $29.21

Gold ACCESS CLOSED $2504.05

Silver ACCESS CLOSED: $29.17

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

Bitcoin morning price:$60171 DOWN 2021 DOLLARS.

Bitcoin: afternoon price: $59403 DOWN 2789 DOLLARS

Platinum price closing  DOWN $26.35 TO $934.95

Palladium price; down $28.90 TO $946.70

END

*CANADIAN GOLD: $3374.66 DOWN 21,05 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,898.54 DOWN 6.43 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,252.20 DOWN 7.02 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: 2,516.000000000 USD
INTENT DATE: 08/27/2024 DELIVERY DATE: 08/29/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

363 H WELLS FARGO SEC 46
657 C MORGAN STANLEY 16
661 C JP MORGAN 2
686 C STONEX FINANCIA 2
737 C ADVANTAGE 10
905 C ADM 55
991 H CME 39

---

TOTAL: 85 85
MONTH TO DATE: 22,277

JPMorgan stopped 0/85

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 85 NOTICES FOR 8500 OZ  or  0.2643 TONNES

total notices so far: 22,277 contracts for 2,227,700  Oz (69.290 tonnes)

FOR  AUGUST:

SILVER NOTICES: 78 NOTICE(S) FILED FOR 390,000

OZ/

total number of notices filed so far this month : 1030 for 5,150,000 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 $14.65 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 $0.76 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV:A DEPOSIT OF 2.301 MILLION OZ OUT OF THE SLV/

//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 465.241 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A MEGA GIGANTIC SIZED 3956 CONTRACTS TO 141,613 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS MEGA HUGE SIZED LOSS  IN COMEX OI WAS ACCOMPLISHED DESPITE OUR TINY LOSS OF $0.03 IN SILVER PRICING AT THE COMEX ON TUESDAY’S TRADING. WE LOST SOME LONGS WITH THE LOSS IN PRICE. WE HAD A HUGE LOSS OF 1652 CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS AND MONTH END SPREADERS DURING TUESDAY’S TRADING//. WE HAD CONSIDERABLE COVERING BY OUR SPECS WITH THE HUGE LOSS IN PRICE.  WE HAD ANOTHER  GIGANTIC 1930 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER STRONG 496 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE LOST 1652 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE.

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN TODAY. 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 TUESDAY NIGHT: 496 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS.IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS BUT TO NO AVAIL. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.03) AND WERE SUCCESSFUL IN KNOCKING A FEW SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG LOSS OF 2028 TOTAL CONTRACTS ON OUR TWO EXCHANGES. THE MAJORITY OF THE LOSS WAS DUE TO T.A.S AND MONTH END SPREADER LIQUIDATION.

WE HAD A HUGE 1930 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 390,000 OZ QUEUE JUMP //NEW STANDING RISES TO 5.130 MILLION OZ

//NEW STANDING FOR SILVER//AUGUST IS THUS 5.130 MILLION OZ

WE HAD:

/ MEGA HUGE SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI)  STRONG SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 496 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 374 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 20 DAYS, total 18,873 contracts:   OR 94.365 MILLION OZ  (944 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  94.365 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; 94.365 MILLION OZ//THIS MONTH WILL PROBABLY BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

RESULT: WE HAD A MEGA HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF  3956 CONTRACTS DESPITE OUR TINY LOSS IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 1930 ISSUED FOR SEPT AND 0 CONTRA78S 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 390,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR AUG  5.130 MILLION OZ 

WE HAVE A MEGA HUGE LOSS OF 2028  OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE TINY LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A STRONG SIZED 496 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE STRONG RUNUP IN PRICE YESTERDAY/ AND MINOR LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE TUESDAY NIGHT   (496) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 78 NOTICE(S) FILED TODAY FOR 390,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A GOOD SIZED 4114 OI CONTRACTS  TO 521,759 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 4782 CONTRACTS//

WE HAD A GOOD SIZED DECREASE  IN COMEX OI (4114 CONTRACTS) OCCURRED WITH OUR LOSS OF $1.60  IN PRICE/TUESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 65.55 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 4400 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  69.290 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $1.60 LOSS IN PRICE  WITH RESPECT TO TUESDAY’S TRADING. WE HAD A FAIR SIZED LOSS OF  2340 OI CONTRACTS (7,278 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 FAIR SIZED 1774 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 521,759

IN ESSENCE WE HAVE A FAIR SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2340 CONTRACTS  WITH 4114 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 1774 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 2442 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALLISH 513 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1774 CONTRACTS) ACCOMPANYING THE GOOD SIZED DECREASE IN COMEX OI OF 4114 CONTRACTS/TOTAL LOSS FOR OUR THE TWO EXCHANGES: 2340 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 4400 OZ QUEUE JUMP AS THESE GUYS NEEDED PHYSICAL GOLD ON THIS SIDE OF THE PLANET.

//NEW STANDING REDUCES TO: /AUGUST 69.290 TONNES. 

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

  4) GOOD SIZED COMEX OPEN INTEREST LOSS 5)  FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S.  ISSUANCE: 513 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: 84,379 CONTRACTS OF 8,437,900 OZ OR 262.45 TONNES IN 20 TRADING DAY(S) AND THUS AVERAGING: 4219 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 20 TRADING DAY(S) IN  TONNES  262.45 TONNES

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

THUS EFP TRANSFERS REPRESENTS  262.45 DIVIDED BY 3550 x 100% TONNES = 7.39% 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: 262.45 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 MEGA HUGE SIZED  3956 CONTRACTS OI  TO 141,613 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 1930 CONTRACTS

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

SEPT 1930  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1930 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 3956 CONTRACTS AND ADD TO THE 1930 E.FP. ISSUED

WE OBTAIN A MEGA HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 2028 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES  TOTALS 10.460 MILLION OZ OCCURRED WITH OUR $0.03 LOSS IN PRICE 

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 11.30 PTS OR 0.41% //Hang Seng CLOSED DOWN 182.22 PTS OR 1.02% // Nikkei CLOSED UP 83.14 OR .22%//Australia’s all ordinaries CLOSED DOWN 0.07%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1272 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1287/ Oil DOWN TO 74.12 dollars per barrel for WTI and BRENT UP AT 78.29 Stocks in Europe OPENED MOSTLY 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 FELL BY A GOOD SIZED  4114 CONTRACTS TO 521,759 DESPITE OUR LOSS IN PRICE OF $1.60 WITH RESPECT TO TUESDAY’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 TUESDAY’S  GAIN IN PRICE WITH MINOR 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 FAIR SIZED 1774 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 1774 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 2340 CONTRACTS IN THAT 1774 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A GOOD LOSS OF 4114 COMEX  CONTRACTS..AND THIS FAIR LOSS ON OUR TWO EXCHANGES HAPPENED WITH OUR LOSS IN PRICE OF $1.60/TUESDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE. THE RAID TODAY WAS ORCHESTRATED BY THE FRBNY AS WE NOW ENTER OPTIONS EXPIRY FOR THE OTC/LONDON LBMA BETS. DESPITE THE FED’S HUGE SHORT PREDICAMENT THEY STILL HAVE TIME AND ENERGY TO RAID OUR PRECIOUS METALS. SUCH CROOKS!

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT A SMALL  SIZED 513 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 AND NOW TODAY!

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   AUGUST  (69.290 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 69.290 TONNES//FINAL STANDING

THE SPECS/HFT WERE  SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY  $1.60 //// BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A FAIR LOSS IN OUR TWO EXCHANGES WITH ALL OF THE LOSS DUE TO SPREADER LIQUIDATION. CENTRAL BANK LONGS , EXERCISED FOR PHYSICAL. WE HAD A HUGE T.A.S. LIQUIDATION AND SPREADER LIQUIDATION TUESDAY/COMEX.

WE HAVE LOST A TOTAL OI OF 7.278 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 4400 OZ QUEUE JUMP //NEW STANDING ADVANCES TO: 69.290 TONNES.

NEW STANDING FOR AUGUST: 69.290 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  LOSS IN PRICE  TO THE TUNE OF $1.60

WE HAVE REMOVED A MAMMOTH 4782 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL. THIS IS THE LARGEST ADJUSTMENT TO DATE.

NET LOSS ON THE TWO EXCHANGES 2340 CONTRACTS OR 234,000 OZ (7.278

TONNES)

confirmed volume TUESDAY 157,200 contracts extremely poor

//speculators have left the gold arena

END

AUGUST 28      AUGUST  GOLD CONTRACT

/ /// THE AUG 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	.
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	NIL oz
No of oz served (contracts) today	85 notice(s) 8500 OZ 0.2643 TONNES
No of oz to be served (notices)	00 contracts    0000 OZ 0.000 TONNES
Total monthly oz gold served (contracts) so far this month	22,277 notices 2,227700 oz 69.290 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:

TOTAL WITHDRAWALS nil oz

adjustments: 5 all dealer to customer

a) Asahi: 36,938.518 oz

b) Brinks 55,402.961 oz

c) HSBC 133,194.716 oz

d) lOOMIS 21,509.019 OZ

E) mANFRA 25,823.746 OZ

TOTAL 266,873.960 OZ 8.30 TONNES

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST

For the front month of AUGUST we have an oi of 85 contracts having LOST 43 contracts.

We had 87 contracts served on TUESDAY so we GAINED an additional 44 contracts or 4400 oz will stand for gold at the comex as these guys needed physical gold on this side of the planet.

SEPT. LOST 55 CONTRACTS TO STAND AT 5,310 CONTRACTS.

OCTOBER LOST 6853 CONTRACTS DOWN TO 46,444 CONTRACTS

We had 85 contracts filed for today representing 8500  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 2 notice issued from their client or customer account. The total of all issuance by all participants equate to 85 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 (22,277) x 100 oz ) to which we add the difference between the open interest for the front month of  August 85( CONTRACTS)  minus the number of notices served upon today  (85x 100 oz per contract( equals  2,227,700 OZ  OR 69.290 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 (22,277 x 100 oz +we add the difference for front month of AUGUST  (85 X// , OI} minus the number of notices served upon today (85) x 100 oz which equals  2,227,700 oz (69.290 TONNES) 

TOTAL COMEX GOLD STANDING FOR AUGUST: 69.290 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:  17,183,912.038 OZ  

TOTAL REGISTERED GOLD 7,522,254.284 ( 233.97 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,661,657,754 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 577,4531 oz (REG GOLD- PLEDGED GOLD)= 179.612 tonnes //

END

SILVER/COMEX

AUGUST 28/2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	580,484.233 OZ CNT .
Deposits to the Dealer Inventory	NIL
Deposits to the Customer Inventory	NIL
No of oz served today (contracts)	78 CONTRACT(S)    (390,000 OZ)
No of oz to be served (notices)	0 contracts  (0.000 million oz)
Total monthly oz silver served (contracts)	1030 Contracts  (5.130 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : NIL oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  0 customer deposits:

total customer deposit NIL oz

JPMorgan has a total silver weight: 135.336million oz/306.512 million  or 44.04%

adjustment:2

a) customer to dealer Asahi: 2,402.619.800 oz

b) customer to dealer dELAWARE 226,,096.233 O

withdrawals: 1

iii) Out of CNT 580,,484.237 oz

total customer withdrawals: 580,484.237 oz

TOTAL REGISTERED SILVER: 75.711 MILLION OZ//.TOTAL REG + ELIGIBLE. 306,512 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:

silver open interest data:

FRONT MONTH OF AUGUST/2024 OI: 78 CONTRACTS HAVING GAINED 43 CONTRACT(S). 

WE HAD 35 NOTICES SERVED ON TUESDAY, SO WE GAINED 78 CONTRACTs OR AN ADDITIONAL 390,000 OZ WILL STAND FOR SILVER AT THE COMEX.

SEPT SAW A LOSS OF 9973 CONTRACTS TO 19,652. SEPT NOW BECOMES THE NEW FRONT MONTH. WE HAVE 2 MORE READING DAYS BEFORE FIRST DAY NOTICE, THURSDAY AND FRIDAY

OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 226 CONTRACTS AND THUS WE HAVE 1321 OPEN INTEREST CONTRACTS FOR OCTOBER.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 78 for 390,000 oz

CONFIRMED volume; ON THURSDAY 86,560 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 1030 x 5,000 oz = 5.150 MILLION oz 

to which we add the difference between the open interest for the front month of AUGUST(78) and the number of notices served upon today 78 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST/2024 contract month:  1030 notices served so far) x 5000 oz + OI for the front month of AUGUST (78)x number of notices served upon today minus (78)x 5000 oz of silver standing for the AUGUST  contract month equates to 5.150 MILLION OZ. 

 New total standing: 5.150 million oz.

There are 75.711 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 28 WITH GOLD DOWN $14.65 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:/ //////INVENTORY RESTS AT 856.12 TONNES

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 28//WITH SILVER DOWN $0.76//HUGE CHANGES IN SILVER INVENTORY:A DEPOSIT OF 2.301 MILLION OZ OZ OUT OF THE SLV. .///./// /INVENTORY AT 465.281 MILLION OZ

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 465.241 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:

Take Rickards advice on this one!

(James Rickards)

Rickards Issues Avalanche Warning

Wednesday, Aug 28, 2024 – 07:20 AM

Authored by James Rickards via DailyReckoning.com,

Remember the Aug. 5 mini-crash? Well, investors apparently don’t. It seems like a distant memory at this point, as the “buy the dip” theme is a deeply entrenched force in today’s market.

Well, I’m afraid that this Wednesday, Aug. 28, they’re about to get a stark reminder. Only this time, it’ll be far worse. Today, I’ll show you why.

First off, why are stocks going up? The simple answer is that the market’s in a bubble. There are a couple of things to consider…

The S&P 500 is really the S&P Four, meaning it’s a cap-weighted index. That means that the impact of a stock’s price on the index is a function of its market capitalization. The bigger its market cap, the greater its impact on the index.

Right now, the top 10 stocks in the S&P account for about 30% of the index.

And it’s just a small handful of stocks like Apple, Microsoft, Nvidia, Google (Alphabet) and a couple of others that account for most of the market’s gains this year.

If you actually take the 500 stocks in the S&P 500 (503 to be precise), more of them are down this year than are up. So when you say the S&P is up 18% on the year, it presents a very distorted picture.

The Nvidia Bubble

Nvidia has been the market’s leading performer, partly because of the latest market fad concerning artificial intelligence (AI) and GPT (generative pre-trained transformers).

The AI boom has created hand-over-fist demand for Nvidia’s chips.

But do the people buying these stocks actually know what GPT is? No, most don’t. But they don’t want to miss the Nvidia gravy train.

People buy into the hype because they don’t want to miss out on the next big thing. And so they buy the stock. That drives the stock higher, which attracts more buyers, which drives the price even higher, which attracts even more buyers.

It’s a positive feedback loop. We’re now in that feedback loop. It’s amplified by institutional investors. Large index funds like Vanguard, State Street, Fidelity and some others have loaded up on Nvidia stock.

What happens when they buy Nvidia? The stock price goes up. Then what happens? They buy more Nvidia stock because it has an even larger place in the index.

So it’s a process that feeds on itself. And it can go on for a long time. That’s how bubbles form.

How All Bubbles End

How does it end? Well, it ends with a crash eventually. The music can’t keep playing forever. The question then becomes when exactly is the music going to stop playing?

It can be a difficult question to answer. You know it’s a bubble, even if you don’t know when it’ll pop. You know it will, but you usually don’t know the specific catalyst that will set the crash in motion. Often, the catalyst is only obvious in retrospect.

The first factor to consider about Nvidia is that its valuation is absolutely sky-high. It has a P/E ratio of 75, which means investors are willing to pay $75 for each dollar of earnings.

But here’s something most investors don’t know: Nvidia’s CEO Jensen Huang and its CFO have been selling hundreds of millions of dollars worth of Nvidia shares. In fact, they just hit a record of shares sold.

Now, I’ve been general counsel for some very large companies. Insider selling like this isn’t a sign of any problem by itself. A lot of times, the way executive compensation is structured means they end up selling shares on a set schedule.

But when I looked into it, I noticed some other strange coincidences that made me dig in more. And I believe there’s a good reason these insiders are selling their shares. And I found five major reasons why I believe Nvidia stock is about to get hammered in two days.

Peak Nvidia?

Yes, Nvidia chips have been in high demand, which has helped fuel the Nvidia boom. But I’ve uncovered a lot of evidence that demand for Nvidia chips has peaked.

Not only has demand peaked, but I believe it’s actually shifting to other chipmakers. Increasingly, these AI chips are being designed in house at companies like Google and Amazon through partnerships with other companies. This lets them train AI models more cheaply.

Another issue with Nvidia chips is that they’re often too powerful for the different AI uses that these companies need.

It’s like using a cannon when you only need a rifle. It’s simply overkill.

Meanwhile, Nivida’s chips are very expensive, and they require a lot of energy which also costs a lot. So by shifting to building their own in-house chips, these big tech companies are reducing their costs, and becoming independent of Nvidia.

But Nvidia stock is basically “priced for perfection.” The problem is when people expect perfection, anything less than perfect is bad news. And I believe Nvidia investors are about to get some really bad news two days from now.

What’s the big deal? Well, it could trigger a massive market chain reaction, potentially leading to losses of 30%, 50% and even 80% among some of the biggest tech stocks that have been driving the market.

If it happens, the major stock market indexes are going to get clobbered. It won’t be the end of the world, I want to be clear about that. But the market could take a long time to recover.

Which Snowflake Will Trigger the Avalanche?

I’ve often compared the causes of market crashes to snowflakes that can trigger an avalanche. A massive amount of snow can accumulate before that one final snowflake comes along to start the chain reaction.

The way to think about it is that the triggering snowflake might not look much different from the harmless snowflake that preceded it. It’s just that it hit the system at the wrong time, at the wrong place.

There’s a lot of snow built up on this mountain. Nvidia could potentially be the snowflake that triggers an avalanche.

I’m not telling you to panic, but I do want you to be prepared for a possible avalanche. If it doesn’t happen, that’s great, you can get on the ski lift and take another run down the mountain.

But if an avalanche does occur, you’ll sure be glad you avoided it.

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

Burkina Faso nationalizes two gold mines mired in legal dispute

Submitted by admin on Tue, 2024-08-27 19:20 Section: Daily Dispatches

By Harry Dempsey and Aanu Adeoye
Financial Times, London
Tuesday, August 27, 2024

Burkina Faso has struck a deal for about $80 million to nationalize two gold mines that London-listed Endeavour Mining agreed last year to sell to Lilium Mining for more than $300 million.

Lilium will transfer ownership of Boungou and Wahgnion to the west African state, which will pay Endeavour $60 million in cash, the FTSE 100 company said in a statement today. Burkina Faso will also pay a 3% royalty on up to 400,000 ounces of gold sold from Wahgnion, the statement said, a provision that analysts estimated was worth $20 million.

The settlement follows controversy around governance at Endeavour in the wake of former chief executive Sebastien de Montessus being sacked at the start of this year for “serious misconduct.”

As part of today’s deal, the two companies will drop legal cases against each other. …

… For the remainder of the report:

https://www.ft.com/content/c677935b-ab2b-4cc4-914f-6b67f2c24183

* * *

* * *

4. GOLD PODCASTS//LIVE FROM THE VAULT/

end

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

end

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 11.30 PTS OR 0.41% //Hang Seng CLOSED DOWN 182.22 PTS OR 1.02% // Nikkei CLOSED UP 83.14 OR .22%//Australia’s all ordinaries CLOSED DOWN 0.07%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1272 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1287/ Oil DOWN TO 74.12 dollars per barrel for WTI and BRENT UP AT 78.29 Stocks in Europe OPENED MOSTLY 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 WEDNESDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED DOWN TO 7.1272

OFFSHORE YUAN: UP TO 7.1289

SHANGHAI CLOSED DOWN 11.30 PTS OR 0.41 %

HANG SENG CLOSED DOWN 182.22 PTS OR 1.02%

2. Nikkei closed UP 83.14 PTS OR .22%

3. Europe stocks   SO FAR:  ALL MOSTLY GREEN

USA dollar INDEX DOWN TO  100.88 EURO FALLS TO 1.1127 DOWN 50 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.901 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.35…… 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 DOWN for WTI and DOWN FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.2335/Italian 10 Yr bond yield DOWN to 3.673 SPAIN 10 YR BOND YIELD DOWN TO 3.062%

3i Greek 10 year bond yield DOWN TO 3.227

3j Gold at $2503.74//Silver at: 29.42  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 11/ 100  roubles/dollar; ROUBLE AT 90.40

3m oil into the 74 dollar handle for WTI and  78 handle for Brent/

3n Higher foreign deposits moving out of China//  huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 144.35/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.901 % 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 0.8434 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9385 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: 3.810 DOWN 3 BASIS PTS…

USA 30 YR BOND YIELD: 4.094 DOWN 3 BASIS PTS/

USA 2 YR BOND YIELD:  3.833 DOWN 8 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.03…

10 YR UK BOND YIELD: 4.004 DOWN 4 PTS

10 YR CANADA BOND YIELD: 3.050 DOWN 7 BASIS PTS

2a New York OPENING REPORT

Futures Flat With Markets On Edge Ahead Of Nvidia Earnings

WEDNESDAY, AUG 28, 2024 – 08:13 AM

US futures flat ahead of a key earnings release from Nvidia, the $3 trillion stock at the forefront of the global artificial-intelligence frenzy and the culprit for most of the market’s upside in the past two years. Viewed a barometer for AI spending across much of the technology industry, Nvidia – viewed by many as this bubble’s CSCO – is expected to project revenue growth of more than 70% for the current quarter when it reports after market close on Wednesday (full preview here). Any disappointment is certain to roil markets, given the company’s heft in US indexes. As of 8:00am S&P futures are flat, trading largely unchanged for the past week; Nasdaq 100 futs are barely in the red as NVDA erases an earlier gain in the green pre-mkt with the balance of Mag7 performing similarly and Semis are also bid. Bond yields are lower, tracking another sharp drop in oil. The USD is extending on yesterday’s gains while commodities are lower, led by Energy though Base Metals are continuing their recent bull run. The macro data focus will be on Fedspeak, bond auctions, and mortgage applications which gained 0.5% after last week’s double digit plunge (-10.1%).

In premarket trading, NVDA is flat, having rallied about 160% this year, far outpacing the Nasdaq 100’s 16.4% gain. Bank of America is down again, after Warren Buffett continued to shrink his stake, selling an additional $982 million of stock in the second-largest US bank. Nordstrom rose 8.3% after the department-store chain issued a stronger-than-expected adjusted earnings-per-share outlook. Super Micro Computer shares were set to extend Tuesday’s losses after Hindenburg Research said it’s short the maker of server equipment. Here are some other notable premarket movers:

• AeroVironment rises 9% after the defense company won a US Army contract valued at as much as $990 million.
• Ambarella soars 21% after the semiconductor-device company forecast revenue for the 3Q that beat the consensus estimate. The company is “clearly turning the corner,” Morgan Stanley said.
• Box rises 8% after the software company raised its full-year forecast.
• Foot Locker drops 6% as a 2Q same-store sales beat isn’t enough to sustain the stock’s rally of 46% since the last earnings report on May 30.
• Kohl’s rises 3% after the retailer raised its full-year forecasts for EPS and operating margin.
• nCino slides 12% after the financial-technology company’s 3Qrevenue guidance fell short of expectations.
• Nordstrom gains 3% after the department-store chain improved its comparable-sales forecast for the year and issued a stronger-than-expected adjusted earnings-per-share outlook.
• Semtech rises 4% after the semiconductor device company’s second-quarter earnings beat estimates.
• SentinelOne ticks higher by 2% after the security software company boosted its full-year revenue guidance.

The Nvidia report and earnings guidance are seen as crucial at a time when markets are grappling with the possibility of a US recession and whether the Federal Reserve can cut interest rates fast enough to engineer a soft landing. Money markets currently price about 100 basis points worth of interest rate cuts this year, starting September.

“The Nvidia result has become very much like a macro event, in some ways as big as the payrolls and CPI releases in terms of market impact,” said Justin Onuekwusi, chief investment officer at wealth manager St James Place. “There’s a lot of money, a lot of leverage in these consensus names and it will take only a slight disappointment to cause significant volatility in markets.”

European stocks are solidly in the green, rising 0.6% and at the highest since mid July, led by chemical and insurance names.  GSK shares rise as much as much as 2.8% after the drugmaker said it welcomes a decision by the Delaware Supreme Court to review a lower state court decision related to the ongoing Zantac litigation, which allows the introduction of plaintiffs’ expert evidence at trial. Here are the most notable European movers:

• Novonesis shares rose after the Danish maker of industrial enzymes increased its forecast for sales growth this year. Citi analysts called the 2Q results “solid,” though they also said further share upside might be limited.
• Ageas rises as much as 6.5%, the most since March 2022, after the Belgian life insurance firm’s first-half net operating profit beat estimates, driven by strong inflows. KBC highlights the “hoped for” share buyback, which will start next month.
• Maire shares gained as much as 8.5% in Milan, the biggest increase since March 5, after Jefferies initiated coverage of the Italian technology and engineering company with a buy recommendation.
• Kingfisher shares fall as much as 2.7% after Citi downgraded the retailer to neutral, ending a buy recommendation that has stood since February.
• Stadler Rail’s share price drops as much as 6.5% after the Swiss train manufacturer reported disappointing results with a miss on revenues, Ebit and free cash flow.

Earlier in the session, Asian stocks rose as technology shares gained ahead of Nvidia’s earnings due later Wednesday, which could shine a light on the momentum of the rally. The MSCI Asia Pacific Index advanced as much as 0.2%, with TSMC and Toyota Motor among the biggest contributors. Shares in Japan and Taiwan edged higher, while China and Hong Kong benchmarks fell following a slew of disappointing corporate earnings. Nvidia’s earnings will offer clues on whether the artificial-intelligence frenzy has more room to run. Expectations of interest rate cuts by the Federal Reserve have also benefited rate-sensitive tech names, with traders now turning their attention to next week’s non-farm payrolls figures.

In FX, the dollar rose about 0.2% rising versus all its G-10 rivals except the Aussie which is flat after CPI topped estimates; the greenback is still on track for its steepest monthly decline this year, undermined by rate-cut bets. Most other currencies lost ground, with the euro dropping 0.5%. The Norwegian krone was the weakest, falling 0.5% against the greenback.

In rates, Treasuries are marginally richer across the curve with 10-year futures above Tuesday’s high in muted price action. US 10-year around 3.81% is around 1bp lower on the day with bunds and gilts in the sector outperforming by 4bp and 2bp; Treasury curve spreads are little changed. European rates outperform Treasuries, supported by gains in German long-end rates. German bond gains are long-end-led, with 30-year yields lower by ~5bp and 5s30s, 2s10s spreads flatter by 1.5bp and 2bp on the day. US session includes $70 billion 5-year note auction, following good demand for Tuesday’s 2-year note sale.

In commodity markets, gold retreated $15 to around $2,509/oz, after a three-day advance that took it closer to its all-time high, while Brent crude futures shed 1%, adding to the previous day’s slide; WTI fell 0.9% to trade near $74.80.

Bitcoin fell below the $60,000 level as part of a broad crypto market retreat that included a sharp drop in second-largest token Ether.

The US economic data calendar empty for the session; Fed speakers scheduled include Bostic at 6pm

Market Snapshot

• S&P 500 futures little changed at 5,647.50
• STOXX Europe 600 up 0.3% to 520.45
• MXAP up 0.2% to 186.19
• MXAPJ little changed at 576.03
• Nikkei up 0.2% to 38,371.76
• Topix up 0.4% to 2,692.12
• Hang Seng Index down 1.0% to 17,692.45
• Shanghai Composite down 0.4% to 2,837.43
• Sensex up 0.4% to 82,000.78
• Australia S&P/ASX 200 little changed at 8,071.40
• Kospi little changed at 2,689.83
• German 10Y yield down 2.7 bps at 2.26%
• Euro down 0.3% to $1.1149
• Brent Futures down 0.9% to $78.81/bbl
• Gold spot down 0.7% to $2,507.21
• US Dollar Index up 0.28% to 100.84

Top Overnight News

• Australia’s Jul CPI comes in at +3.5%, down from +3.8% in June but a bit firmer than the consensus forecast of +3.4%. WSJ
• Bank of Japan Deputy Gov. Ryozo Himino has backed the case for further interest-rate hikes if the economy and prices grow as expected, echoing recent comments from the central bank’s chief. WSJ
• Protests in China are on the rise as the effects of a slowing economy rattle citizens and Beijing refrains from taking bolder steps to shore up growth. Cases of dissent increased 18% in the second quarter compared to the same period last year in figures documented by the China Dissent Monitor at Freedom House, a US advocacy group. The majority of events linked to economic issues. BBG
• China’s plans to issue billions of dollars of government bonds before the end of the year could lead to a correction in the price of the country’s treasuries, people close to the central bank have warned, bursting what some have called a bubble in the market. FT
• Middle East tensions continue to cool as Hezbollah and Iran signal they want to avoid a larger war from commencing. NYT
• Warren Buffett sold an additional $982 million of Bank of America Corp. stock as his conglomerate continues to shrink its investment in the second-largest US bank. His Berkshire Hathaway Inc. has trimmed the stake by a total of almost 13% in a series of sales since mid-July, generating $5.4 billion in proceeds. Berkshire disclosed the latest disposals in a regulatory filing late Tuesday, detailing sales on Aug 23, 26 and 27. BBG
• US Democratic Presidential Candidate Harris and her VP candidate Waltz will be interviewed on CNN this week Thursday: Reuters.
• Apple cuts about 100 services jobs as part of priority shift: Bloomberg.
• CAICT shipments of phones within China +30.5% Y/Y at 24.2mln handsets in July. Shipments of foreign branded phones, including Apple (AAPL) iPhones within China, +2.7% Y/Y in July: Reuters
• Israel launched a major counterterrorism operation involving hundreds of troops in multiple West Bank cities. WaPo
• Russia cares more about capturing Pokrovsk in Ukraine’s Donbas region than in repelling the Ukraine cross-border strike in the Kursk region. NYT
• Investors are pouring cash into US government bond exchange traded funds as bond fever spreads through the market ahead of the Federal Reserve’s expected interest rate cut in September. BlackRock’s TLT, the biggest ETF tracking long-dated Treasury bonds, pulled in nearly $4bn between the start of August and this Monday, according to data from Morningstar. The fund has had bigger inflows in only three months since it launched in 2002. FT

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded subdued but mostly within tight ranges following a mixed lead on Wall Street, whilst volume in APAC remained low amid thin summer trade. ASX 200 was pressured by Telecoms and Energy, whilst the hotter-than-expected Aussie CPI sent the index lower, albeit briefly. Nikkei 225 was hindered by the recent upside in the JPY, although price action was contained to tight ranges. Losses lead by Banks and Miners. No notable reaction was seen to BoJ Deputy Governor Himino who noted financial and capital markets remain unstable and the BoJ needs to monitor their developments with the utmost vigilance. Hang Seng and Shanghai Comp initially traded in tight ranges but the Hang Seng later extended on losses with Hong Kong seeing its earnings pick up in pace – Meituan and BYD traded lower ahead of earnings.

Top Asian news

• BoJ Deputy Governor Himino said financial and capital markets remain unstable, and BoJ needs to monitor their developments with the utmost vigilance. He added the BoJ will adjust the degree of monetary accommodation if it has growing confidence that its outlook for economic activity and prices will be realized, and the central bank needs to closely monitor developments in recent market volatilities including weaker stocks and stronger JPY.
• Alibaba (BABA/ 9988 HK) converted its secondary listing on the Hong Kong Exchange into a primary listing; says the Co. is now a dual primary listed firm on the NYSE and HKEX.
• PBoC injected CNY 277.3bln via 7-day Reverse Repo at a maintained rate of 1.70%

European bourses, Stoxx 600 (+0.3%) began the session on a modestly firmer footing. As the morning progressed, some slight divergence was seen in the markets; the DAX 40 (+0.3%) edged to session highs, whilst the FTSE 100 (-0.1%) tilted lower. European sectors hold a strong positive tilt; Insurance takes the top spot, propped by post-earning gains in Prudential (+2.7%). Basic Resources is found at the foot of the pile, hampered by broader weakness in underlying metals prices. US Equity Futures (ES U/C, NQ +0.2%, RTY U/C) are flat/modestly firmer, with slight outperformance in the NQ ahead of NVIDIA (+0.2%) earnings after-hours. The data docket for the remainder of the day is void of any key data releases, but Fed’s Bostic may help to spur some action.

Top European news

• Political Deadlock Revives French Stock Risks After Olympic Calm
• Morgan Stanley’s Ex-Germany Head Named as CEO of Flatexdegiro

Geopolitics: Middle East

• Israeli, US, Egyptian and Qatari negotiators were meeting in Doha on Wednesday for “technical/working level” Gaza ceasefire talks, via Reuters citing sources.
• The Israeli army launched a large-scale operation against militants in various parts of the northern West Bank, according to Al Jazeera citing Israel Channel 14.
• “Hundreds of Israeli soldiers take part in the operation in the northern West Bank with full air cover”, according to Sky News Arabia.
• Israeli operation in the West Bank is expected to last for days, according to Israel Channel 14. Sky News Arabia suggested “Israeli operation in Tulkarm and Jenin [in West Bank] is expected to last for a long time, up to weeks”, according to Sky News Arabia.
• “Israel’s Channel 14: The army mobilized thousands of soldiers from special units in preparation for the large-scale operation in the northern West Bank”, according to Al Jazeera.
• “Israeli army storms Aida camp in the southern West Bank”, according to Al Arabiya.
• An Israeli delegation from the Mossad, the IDF and the Shin Bet will travel to Doha on Wednesday to continue talks with US, Qatari and Egyptian officials to close the remaining gaps in the Gaza hostage and ceasefire deal, via Axios’ Ravid.

Geopolitics: Ukraine

• Several oil tanks reportedly on fire at Glubokinskaya oil depot after Ukraine’s drone attack in Russia’s Rostov region, according to Reuters citing Telegram reports.

US Event Calendar

• 07:00: Aug. MBA Mortgage Applications +0.5%, prior -10.1%

DB’s Jim Reid concludes the overnight wrap

Markets put in a subdued performance yesterday, with little in the way of major drivers pushing financial assets in either direction. To be fair, that should soon change from today, as we’ve got Nvidia’s earnings coming out after the US close tonight, which have become an important macro event in their own right over recent quarters, with reactions that rival the sort of moves taking place after surprise jobs reports or CPI releases. The days ahead will also bring some other pivotal data releases, including the PCE inflation print on Friday, followed by the US jobs report next week. But in the meantime, risk assets were pretty steady, with the S&P 500 (+0.16%) posting a modest increase that kept it within 1% of its all-time high from mid-July.

Of course, much of the focus right now is on the Fed and how much they’ll cut rates in September. But even there, the data we had yesterday was inconclusive, and meant that markets continued to struggle for direction. For example, we got some good news from the Conference Board’s consumer confidence indicator, as the confidence reading rose to a 6-month high of 103.3 (vs. 100.7 expected). So that helped to push back on the narrative that the economy was deteriorating into a sharper downturn. But on the other hand, the labour market indicators fell to their weakest levels so far in this cycle, which supported concerns about the recent slowdown in the labour market. Specifically, the difference between those saying jobs were plentiful, and those saying they were hard to get, fell to just 16.4%, which is the smallest that gap has been since March 2021.

With that data in hand, investors maintained their view that there was a moderate chance of a 50bp rate cut at the upcoming meetings. For instance, futures are now pointing to a 33% probability of a 50bp move in September, up from 28% the previous day. But that’s still a long way from where pricing had been at the height of the market turmoil at the start of the month, when a 50bp move was even fully priced at one point intraday. Investors didn’t have any Fed speakers to go off either yesterday, although Atlanta Fed’s Bostic is scheduled to speak on the economic outlook tonight.

With the total amount of Fed cuts priced by December’s meeting ticking up +3.3bps to 104bps, front-end Treasuries rallied yesterday, and the 2yr yield came down -3.6bps to 3.90%. That rally was helped by a solid 2yr auction that saw $69bn of bonds issued 0.6bps below the pre-sale yield. However, there was a marginal selloff at the long end, and the 10yr yield rose +0.6bps on the day to 3.82%. That said, the 10yr real yield (-0.3bps) extended its recent decline, closing at its lowest level since January at 1.67%.
Over in Europe, there was a more pronounced bond selloff, which saw yields on 10yr bunds (+4.3bps), OATs (+5.9bps), BTPs (+7.4bps) and gilts (+5.8bps) all post a decent rise. With yields rising more in Europe than the US, the broad dollar index (-0.30%) fell to a new one-year low, whilst sterling closed at its strongest level against the dollar since March 2022 at $1.3261.

The European rates selloff in part followed a few comments from ECB officials, including Dutch central bank governor Knot, who said that “I will have to wait until I have the full data and information going into that meeting to decide my position on whether September is appropriate”. Overnight, our European economists published a new piece in which they discuss the factors that will determine how quickly the ECB will cut rates in the coming months (link here). This follows another note yesterday in which they assessed the hawkish and dovish perspectives on the current ECB outlook (link here).

For equities, all attention is now on Nvidia’s earnings release tonight, which has helped to drive significant market moves recent quarters. For instance, their results in February saw the S&P 500 surge by +2.11% the next day, marking its second-best daily performance of 2024 so far. Bear in mind that Nvidia’s share price is already up +159% on a YTD basis, making it the top performer in the entire S&P 500, and it has risen by more than +1000% since its low in October 2022.

Ahead of that release, the main US indices saw little change, with the S&P 500 (+0.16%) and the NASDAQ (+0.16%) both posting modest gains. Nvidia (+1.46%) rose ahead of its results, which pulled the Philadelphia Semiconductor Index higher (+1.10%), but the Mag 7 saw a modest decline overall (-0.30%) given losses from Tesla (-1.88%) and Amazon (-1.36%). Small-cap stocks also struggled, with the Russell 2000 down -0.67%. Over in Europe though, the STOXX 600 (+0.16%) and the DAX (+0.35%) both closed at a one-month high.

Overnight in Asia, there’s been a worse performance for equities, with several major indices losing ground. That includes the Hang Seng (-0.97%), which is currently on track for its worst performance in over three weeks, back when the market turmoil was at its most severe at the start of the month. Other indices have also lost ground, including the CSI 300 (-0.61%), the Shanghai Comp (-0.22%), the KOSPI (-0.29%) and the Nikkei (-0.03%). US equity futures have also remained subdued, with those on the S&P 500 unchanged this morning.

In the meantime, we also got Australia’s latest CPI data for July overnight. That showed CPI falling to +3.5% (vs. +3.4% expected), and the trimmed mean also eased back to +3.8%. Given the data was a bit stronger than expected, markets dialled back their expectations for rate cuts slightly, and Australian government bond yields have risen overnight, with the 10yr yield up +3.0bps to 3.94%.

There wasn’t much other data yesterday, although the Richmond Fed’s manufacturing index for August fell to -19 (vs. -14 expected), which is its lowest level since May 2020. Alongside that, the FHFA’s house price index for June fell by -0.1% (vs. +0.1% expected).

To the day ahead now, and earnings releases include Nvidia after the US close. From central banks, we’ll hear from the Fed’s Bostic, along with the BoE’s Mann. And data releases include the Euro Area M3 money supply for July, along with French consumer confidence for August.

2B) European report

Equities edge higher, USD gains & AUD fares better post-CPI; focus today is on NVDA earnings – Newsquawk US Market Open

Wednesday, Aug 28, 2024 – 06:18 AM

• European bourses are generally firmer, US futures flat/firmer but NQ leads ahead of NVDA earnings after-hours
• Dollar is firmer, AUD fares best post-CPI & EUR underperforms
• Bonds are incrementally firmer awaiting impetus from Fed speak and US 5yr supply
• Crude continues to slip, XAU and base metals hampered by the firmer Dollar
• Looking ahead, DoEs, Fed’s Bostic, Supply from the US, and earnings from NVIDIA, Salesforce, and CrowdStrike

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.3%) began the session on a modestly firmer footing. As the morning progressed, some slight divergence was seen in the markets; the DAX 40 (+0.3%) edged to session highs, whilst the FTSE 100 (-0.1%) tilted lower.
• European sectors hold a strong positive tilt; Insurance takes the top spot, propped by post-earning gains in Prudential (+2.7%). Basic Resources is found at the foot of the pile, hampered by broader weakness in underlying metals prices.
• US Equity Futures (ES U/C, NQ +0.2%, RTY U/C) are flat/modestly firmer, with slight outperformance in the NQ ahead of NVIDIA (+0.2%) earnings after-hours. The data docket for the remainder of the day is void of any key data releases, but Fed’s Bostic may help to spur some action.
• Nvidia is expected to report Q2 (USD) EPS of 0.64 and Revenue of 28.48bln. Generally, analysts expect the earnings to show strong results amid sustained AI demand though production delays are in focus (i.e. Blackwell). In terms of reaction, options markets were pricing in a 1.3% swing in the S&P 500 for the first day of trading after Nvidia publishes its results, and a swing of up to 10% in either direction for the stock itself, according to Citi. Report due around 21:20BST/16:20EDT
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• USD has launched a modest fightback vs. peers after a recent run of losses for the Greenback. DXY has been as high as 100.95 with focus on a test of 101. If breached, the next level to the upside will come via the pre-Powell peak at 101.55.
• EUR/USD has continued to pullback from the 1.12 mark and drifted as low as 1.1136 overnight. EZ-specific updates remain light with focus for the region on Friday’s inflation metrics.
• GBP is a touch softer vs. the broadly firmer USD but marginally firmer vs. the EUR; Cable down to a 1.3218 base. Cable printed another YTD high on Tuesday at 1.3267. If the uptrend resumes, focus will be on a test of the 1.33 mark.
• JPY the marginal laggard across the majors with not much in the way of specific newsflow for either leg of the pair. USD/JPY has been as high as 144.48 with focus on a potential retest of 145.
• AUD faring better vs. the USD than peers on account of firmer-than-expected inflation metrics overnight. AUD/USD was able to briefly pierce the 0.6800 level, but stopped shy of the 0.6832 YTD peak from Jan 2nd.
• PBoC set USD/CNY mid-point at 7.1216 vs exp. 7.1210 (prev. 7.1249)
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are firmer, but only by a few ticks with coverage for USTs having now switched to the December contract. Docket ahead has a 5yr auction which follows Tuesday’s strong, though not quite as well received as the prior, 2yr tap. USTs in particularly thin parameters just above the 114-00 mark.
• Bunds remain in Sep. with volumes and conditions thin as newsflow remains light ahead of US PCE on Friday. No EGB supply though focus is on a US 5yr later. Pivoting the 134.00 mark in 133.89-134.08 parameters which are entirely within Tuesday’s 133.66-134.28 band.
• Gilts have switched to December; no Tier 1 events thus far though BoE’s Mann appears on some schedules for later in the session. Currently in a thin 20-tick parameter just below the 99.00 mark.
• UK sells GBP 1.5bln 0.75% 2033 I/L Gilt: b/c 2.94x (prev. 2.89x) and real yield 0.462% (prev. 0.518%).
• Click for a detailed summary

COMMODITIES

• Crude benchmarks softer as the geopolitical/crude narrative hasn’t fundamentally shifted since late-Monday with the complex continuing to pare that session’s geopolitics/Libya-inspired strength. Brent’Oct down to a USD 78.55/bbl base and now below Monday’s trough.
• Spot gold under modest pressure as the USD picks up and as the global yield environment remains net-firmer WTD. The yellow metal remains firmer for the week as a whole and by extension above the USD 2500/oz handle.
• Base metals are subdued, reflecting the tepid APAC tone & firmer USD, but with specifics light generally and for the complex specifically in thin summer conditions.
• Libya’s Sarir oil field has reduced production to almost a total shutdown, via Reuters citing engineers
• US Private Inventory Data (bbls): Crude -3.4mln (exp. -2.3mln), Distillate -1.4mln (exp. -1.1mln), Gasoline -1.9mln (exp. -1.6mln), Cushing -0.5mln.
• One global aluminium producer reportedly seeks USD 185/t premium in talks, +8% from current quarter, according to Reuters sources.
• India to hold wider consultations with steel industry before imposing curbs on met coke imports, via Reuters citing sources.
• Libya’s oil production has reportedly fallen below the 600k BPD mark, via Bloomberg.
• Russia’s Kremlin on Russian gas transit to Europe vs Ukraine, says there are alternative routes and plans for Turkish hubs.
• Click for a detailed summary

NOTABLE DATA RECAP

• EU Money-M3 Annual Growth (Jul) 2.3% vs. Exp. 2.7% (Prev. 2.2%); Loans to Non-Fin (Jul) 0.6% (Prev. 0.7%); Loans to Households (Jul) 0.5% (Prev. 0.3%)

NOTABLE US HEADLINES

• US Democratic Presidential Candidate Harris and her VP candidate Waltz will be interviewed on CNN this week Thursday, according to Reuters.
• Apple (AAPL) cuts about 100 services jobs as part of priority shift, according to Bloomberg.
• CAICT shipments of phones within China +30.5% Y/Y at 24.2mln handsets in July. Shipments of foreign branded phones, including Apple (AAPL) iPhones within China, +2.7% Y/Y in July, via Reuters calculations based on the data.

GEOPOLITICS

MIDDLE EAST

• Israeli, US, Egyptian and Qatari negotiators were meeting in Doha on Wednesday for “technical/working level” Gaza ceasefire talks, via Reuters citing sources.
• The Israeli army launched a large-scale operation against militants in various parts of the northern West Bank, according to Al Jazeera citing Israel Channel 14.
• “Hundreds of Israeli soldiers take part in the operation in the northern West Bank with full air cover”, according to Sky News Arabia.
• Israeli operation in the West Bank is expected to last for days, according to Israel Channel 14. Sky News Arabia suggested “Israeli operation in Tulkarm and Jenin [in West Bank] is expected to last for a long time, up to weeks”, according to Sky News Arabia.
• “Israel’s Channel 14: The army mobilized thousands of soldiers from special units in preparation for the large-scale operation in the northern West Bank”, according to Al Jazeera.
• “Israeli army storms Aida camp in the southern West Bank”, according to Al Arabiya.
• An Israeli delegation from the Mossad, the IDF and the Shin Bet will travel to Doha on Wednesday to continue talks with US, Qatari and Egyptian officials to close the remaining gaps in the Gaza hostage and ceasefire deal, via Axios’ Ravid.

RUSSIA-UKRAINE

• Several oil tanks reportedly on fire at Glubokinskaya oil depot after Ukraine’s drone attack in Russia’s Rostov region, according to Reuters citing Telegram reports.

CRYPTO

• Bitcoin slips below USD 60k, with Ethereum also lower and holds beneath USD 2.5k.

APAC TRADE

• APAC stocks traded subdued but mostly within tight ranges following a mixed lead on Wall Street, whilst volume in APAC remained low amid thin summer trade.
• ASX 200 was pressured by Telecoms and Energy, whilst the hotter-than-expected Aussie CPI sent the index lower, albeit briefly.
• Nikkei 225 was hindered by the recent upside in the JPY, although price action was contained to tight ranges. Losses lead by Banks and Miners. No notable reaction was seen to BoJ Deputy Governor Himino who noted financial and capital markets remain unstable and the BoJ needs to monitor their developments with the utmost vigilance.
• Hang Seng and Shanghai Comp initially traded in tight ranges but the Hang Seng later extended on losses with Hong Kong seeing its earnings pick up in pace – Meituan and BYD traded lower ahead of earnings.

NOTABLE ASIA-PAC HEADLINES

• BoJ Deputy Governor Himino said financial and capital markets remain unstable, and BoJ needs to monitor their developments with the utmost vigilance. He added the BoJ will adjust the degree of monetary accommodation if it has growing confidence that its outlook for economic activity and prices will be realized, and the central bank needs to closely monitor developments in recent market volatilities including weaker stocks and stronger JPY.
• Alibaba (BABA/ 9988 HK) converted its secondary listing on the Hong Kong Exchange into a primary listing; says the Co. is now a dual primary listed firm on the NYSE and HKEX.
• PBoC injected CNY 277.3bln via 7-day Reverse Repo at a maintained rate of 1.70%

NOTABLE APAC EARNINGS

• Meitu (1357 HK) H1 (CNY) Revenue 1.62bln (exp. 1.72bln), Gross Profit 1.05bln, Gross Margin 64.9%, adj. Net 0.27bln. Did not recommend dividend distribution.
• BYD (0285 HK) H1 (CNY) Revenue 78.58bln (exp. 74.35bln), Gross Profit 5.38bln, EPS 0.67. Does not recommend distribution of an interim dividend.
• Li Auto (2015 HK) Q2 (USD): Revenue 4.4bln, +10.6% Y/Y, Vehicle Sales 4.2bln; total deliveries 108,581 vehicles. Expects Q3 deliveries of between 145-155k; sees Q3 total revenue to be between USD 5.4-5.8bln.
• Meituan (3690 HK) Q2 (CNH): Revenue 82.25bln (exp. 80.42bln), adj. EBITDA 14.99bln (exp. 12.15bln), adj. Net 13.6bln (exp. 10.94bln)

DATA RECAP

• Australian Weighted CPI YY (Jul) 3.5% vs. Exp. 3.4% (Prev. 3.8%)
• Australian CPI SA YY (Jul) 3.60% (Prev. 3.90%, Rev. 3.80%); MM (Jul) 0.00% (Prev. 0.40%, Rev. 0.30%)
• Australian Construction Work Done (Q2) 0.1% vs. Exp. 0.7% (Prev. -2.9%)

2C) ASIAN REPORT

Softer trade in tight ranges ahead of NVDA, geopols remain in focus – Newsquawk Europe Market Open

Wednesday, Aug 28, 2024 – 01:28 AM

• APAC stocks traded subdued but mostly within tight ranges following a mixed lead on Wall Street ahead of NVIDIA earnings.
• DXY ticked higher during the back end of the APAC session, USD/JPY gradually rose, AUD/USD saw upside on hotter-than-expected Aussie CPI.
• The Israeli army launched a large-scale operation against militants in various parts of the northern West Bank; the operation is expected to last days.
• European equity futures are indicative of a flat open with the Euro Stoxx 50 future unchanged after the cash market closed unchanged on Tuesday.
• Looking ahead, highlights include DoEs, Fed’s Bostic, Supply from the UK and US, and earnings from NVIDIA, Salesforce, and CrowdStrike.

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1. Subscribe to the free premarket movers reports

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US TRADE

EQUITIES

• US stocks were mixed on Tuesday with clear underperformance in the small-cap Russell 2000 in what was a day of thin newsflow as participants await tech behemoth NVIDIA’s earnings on Wednesday after-hours.
• SPX +0.16% at 5,626, NDX +0.33% at 19,582, DJIA flat at 41,251, RUT -0.67% at 2,203
• Click here for a detailed summary.

NOTABLE HEADLINES

• US voters prefer Trump’s approach to the economy over Harris’ 43% to 40%, down from an 11-point July lead – Reuters/Ipsos poll.
• US Democratic Presidential Candidate Harris and her VP candidate Waltz will be interviewed on CNN this week Thursday, according to Reuters.
• Fed Discount Rate Meeting Minutes: Chicago and NY directors favoured a cut.
• Apple (AAPL) cuts about 100 services jobs as part of priority shift, according to Bloomberg.

APAC TRADE

EQUITIES

• APAC stocks traded subdued but mostly within tight ranges following a mixed lead on Wall Street, whilst volume in APAC remained low amid thin summer trade.
• ASX 200 was pressured by Telecoms and Energy, whilst the hotter-than-expected Aussie CPI sent the index lower, albeit briefly.
• Nikkei 225 was hindered by the recent upside in the JPY, although price action was contained to tight ranges. Losses lead by Banks and Miners. No notable reaction was seen to BoJ Deputy Governor Himino who noted financial and capital markets remain unstable and the BoJ needs to monitor their developments with the utmost vigilance.
• Hang Seng and Shanghai Comp initially traded in tight ranges but the Hang Seng later extended on losses with Hong Kong seeing its earnings pick up in pace – Meituan and BYD traded lower ahead of earnings.
• US equity futures saw sideways trade around the flat mark following yesterday’s mixed performance and with the tone tentative ahead of NVIDIA numbers.
• European equity futures are indicative of a contained open with the Euro Stoxx 50 future +0.1% after cash closed unchanged on Tuesday.

FX

• DXY gradually ticked higher during the back end of the APAC session in an attempt to nurse some of the prior day’s losses, but remained within a narrow 100.59-77 range (vs yesterday’s 100.51-93 parameter).
• EUR/USD waned in tandem with the upticks in the Dollar index, with EUR/USD within 1.1159-85 confines. In terms of notable levels, 1.1150 marks the lows on Monday and Tuesday and could provide some support, whilst the weekly peak currently stands at 1.1201.
• GBP/USD saw uneventful trade and meandered around within 1.3250-60 for most of the session before dipping under the half-round figure, but the pair held onto a bulk of the prior day’s gains in which it printed a 1.3177-1.3266 range and closed at 1.3255.
• USD/JPY inched higher as the JPY gradually pared back some of the prior day’s strength, whilst little notable reaction was seen to BoJ Deputy Governor Himino who suggested financial and capital markets remain unstable and urged utmost vigilance.
• Antipodeans saw a divergence after Aussie inflation failed to cool as much as expected, sparking modest upside in the Aussie currency and in turn taking AUD/NZD back above 1.0900 briefly (from a 1.0865 low).
• PBoC set USD/CNY mid-point at 7.1216 vs exp. 7.1210 (prev. 7.1249)

FIXED INCOME

• 10yr UST futures saw uneventful APAC trade following a mixed Wall Street session whilst the 2-year auction was strong, but not as strong as the July offering – with little reaction seen in response. Traders look ahead to the 2-year FRN and 5-year Note auctions later.
• Bund futures saw a choppy session but within narrow ranges with macro newsflow light, although some downticks were seen at the time the hotter-than-expected Aussie CPI was released.
• 10yr JGB futures experienced little action amid the summer lull with JGBs unfazed by commentary from BoJ Deputy Governor Himino.
• US sells USD 69bln of 2yr notes; stop-through 0.6bps. High Yield: 3.874% (prev. 4.434%, six-auction average 4.707%). WI: 3.880%. Tail: -0.6bps (prev. -2.3bps, six-auction avg. -0.2bps). Bid-to-Cover: 2.86x (prev. 2.81x, six-auction avg. 2.62x). Dealers: 11.9% (prev. 9.0%, six-auction avg. 13.7%). Directs: 19.1% (prev. 14.4%, six-auction avg. 20.1%). Indirects: 69% (prev. 76.6%, six-auction avg. 66.2%).

COMMODITIES

• Crude futures consolidated after the prior day’s losses. Little reaction was seen on reports of a large-scale Israeli operation in the West Bank, which is likely to keep tensions high in the Middle East. Before that, modest upticks were seen on the larger-than-expected draw in Private Inventories.
• Spot gold waned throughout the session in tandem with the gains in the Dollar, but the yellow metal remained within yesterday’s range.
• Copper futures were subdued and reflective of the APAC tone, with the upside also capped by the firmer Dollar.
• US Private Inventory Data (bbls): Crude -3.4mln (exp. -2.3mln), Distillate -1.4mln (exp. -1.1mln), Gasoline -1.9mln (exp. -1.6mln), Cushing -0.5mln.
• One global aluminium producer reportedly seeks USD 185/t premium in talks, +8% from current quarter, according to Reuters sources.

CRYPTO

• Bitcoin was pressured amid the broader downbeat sentiment across crypto, with prices falling to levels just above USD 58k from around USD 62k at the start of the session before partially recovering.

NOTABLE ASIA-PAC HEADLINES

• BoJ Deputy Governor Himino said financial and capital markets remain unstable, and BoJ needs to monitor their developments with the utmost vigilance. He added the BoJ will adjust the degree of monetary accommodation if it has growing confidence that its outlook for economic activity and prices will be realized, and the central bank needs to closely monitor developments in recent market volatilities including weaker stocks and stronger JPY.
• Alibaba (BABA/ 9988 HK) converted its secondary listing on the Hong Kong Exchange into a primary listing; says the Co. is now a dual primary listed firm on the NYSE and HKEX.
• PBoC injected CNY 277.3bln via 7-day Reverse Repo at a maintained rate of 1.70%

DATA RECAP

• Australian Weighted CPI YY (Jul) 3.5% vs. Exp. 3.4% (Prev. 3.8%)
• Australian CPI SA YY (Jul) 3.60% (Prev. 3.90%, Rev. 3.80%)
• Australian CPI SA MM (Jul) 0.00% (Prev. 0.40%, Rev. 0.30%)
• Australian Construction Work Done (Q2) 0.1% vs. Exp. 0.7% (Prev. -2.9%)

GEOPOLITICS

MIDDLE EAST

• The Israeli army launched a large-scale operation against militants in various parts of the northern West Bank, according to Al Jazeera citing Israel Channel 14.
• “Hundreds of Israeli soldiers take part in the operation in the northern West Bank with full air cover”, according to Sky News Arabia.
• Israeli operation in the West Bank is expected to last for days, according to Israel Channel 14. Sky News Arabia suggested “Israeli operation in Tulkarm and Jenin [in West Bank] is expected to last for a long time, up to weeks”, according to Sky News Arabia.
• “Israel’s Channel 14: The army mobilized thousands of soldiers from special units in preparation for the large-scale operation in the northern West Bank”, according to Al Jazeera.
• “Israeli army storms Aida camp in the southern West Bank”, according to Al Arabiya.
• An Israeli delegation from the Mossad, the IDF and the Shin Bet will travel to Doha on Wednesday to continue talks with US, Qatari and Egyptian officials to close the remaining gaps in the Gaza hostage and ceasefire deal, via Axios’ Ravid.
• White House’s Kirby said he believes Iran is “postured and poised” to launch an attack on Israel. Messaging to Iran has been “Don’t do it. There is no reason to potentially start some of the regional war”. The US will defend Israel in the event of an Iranian attack. Still hopeful on Gaza ceasefire talks since all parties remain engaged.

RUSSIA-UKRAINE

• Several oil tanks reportedly on fire at Glubokinskaya oil depot after Ukraine’s drone attack in Russia’s Rostov region, according to Reuters citing Telegram reports.

EU/UK

NOTABLE HEADLINES

• Italian premier Meloni is reportedly looking to fill a EUR 12bln budget hole with measures such as cost cuts and delayed retirement, according to Bloomberg citing sources. Finance Minister Giorgetti has until Sept. 20 to deliver a fiscal plan to Brussels.
• Italy is to approve its updated fiscal plan by mid-September, according to The Treasury.

DATA RECAP

LATAM

• Brazil’s Finance Minister Haddad said the 2025 budget proposal to be sent to Congress will include suggestions from the private sector. Haddad also said a new central bank head to be picked by September, according to Reuters.

GLOBAL

• IDC sees worldwide smartphone shipments growing 5.8% Y/Y in 2024 to 1.23bln units. “The 12% growth in the first quarter, followed by 9% growth last quarter, has brought improved optimism about how 2024 will play out in the second half of the year.”

2D JAPAN

3 CHINA

CHINA

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EUROPE/RUSSIA

Pepe Escobar does a great job on the Pave lDurov /Telegram fiasco

(Pepe Escobar)

Escobar: EUR To Telegram – We’re Coming To Get You!

Wednesday, Aug 28, 2024 – 02:00 AM

Authored by Pepe Escobar,

The Pavel Durov saga is a gift that will keep on giving for a long time to come. This is what hot information war is all about. So let’s attempt to connect several loose ends.

A high-level Russian analyst makes the case that Durov’s arrest is connected with “anti-French protests in its former colonies, withdrawal from its traditional ‘sphere of influence’ where Telegram infrastructure was used to push anti-colonial and anti-Macronist narratives”.

Add to it an “attempt to influence narratives on Ukraine both in Russian and the international media field, which is highly dependent on Telegram infrastructure.”

Paris is indeed desperate to make itself relevant when it comes to psy ops and influencing/special warfare in Ukraine.

However, as the analyst notes, the French don’t have the tech means to accomplish it. So this may have led to Macron deciding to “exercise a personal pressure campaign against Durov himself. French authorities must be rather desperate in trying to keep their heads in the game of global politics. And Telegram today is (his italics) global politics.”

Paris was just waiting for a big break. When the pilot of Durov’s Embraer private jet submitted his flight plan, there was no warrant for his arrest in France. Only when the jet was on its way to Le Bourget, Paris filed the warrant in haste. Durov was clueless all along.

In a nutshell: Paris got a fateful heads up he was flying into France – could have been via Durov’s Dubai-based, post-obsessive, social climbing girlfriend – and laid out the trap in a flash.

An Eminence in Jail

There’s a myth that the FSB in the past asked Durov for Telegram’s encryption keys. False. The FSB wanted Telegram to provide top access on investigations of serious crimes, on a case-by-case basis. That’s an enormous difference compared to what the US Government does with Meta or Twitter/X via their totally open backdoors.

Durov though got drunk on NATOstan’s “freedom and democracy” propaganda, rebuffed Russia, and left.

And that brings us to President Putin.

Putin had better things to do than to meet Durov in Baku, and the Kremlin has gone on the record to deny the meeting. Durov was doing a tour of Central Asia and the Caucasus, they happened to cross their paths in Azerbaijan.

There’s one thing that Putin never tolerates: betrayal of Russia. And that applies to the letter to Durov.

When Durov went to the US, the Americans, predictably, demanded Telegram’s backdoors to surveil everybody. So he set up shop in Dubai and later applied for French citizenship.

Durov became a French citizen only 3 years ago – significantly, before the launch of the SMO – via a special “eminent foreigner” program set up by the Ministry of Foreign Affairs. Very few are eligible; only a “French-speaking foreigner who contributes through their eminent action to the influence of France and the prosperity of its international economic relations”.

Well, no “eminent action” was enough to keep him away from a French slammer.

How to Get Those Keys

The European Commission (EC) in Brussels can be summarily described as a notorious bunch of EUrocrat cowards and/or psychopaths cheerfully praising “our values”.

Predictably, the EC refuses to comment on Durov’s arrest, saying it’s a “national investigation”.

An “investigation” which happens to have been “encouraged” by the US Deep State, carried out since July 8 by vassal Macronist police, to the benefit of NATO and… the European Commission itself.

The charges against Durov revealed by France’s Prosecutor of the Republic should be destroyed in court by any crack legal team. Essentially, the claims are that Durov himself is responsible for those abusing Telegram. He is “complicit” of every misdeed under the sun – from organized fraud to drug-trafficking – all the way to a hazy accusation of providing encrypted services without a “certified declaration”.

The accusations about Telegram’s lack of moderation are false. For instance, Telegram actively censors correspondence inside the EU; EU residents cannot access countless chats and channels. Moreover, Telegram is not concerned by the recent, hardcore neo-Orwellian EU law against mega social networks, because it harbors less than 45 million European users a day.

Now let’s focus on motive.

The current liberal-totalitarian Euro-gulag, or EuroLag, is a massive power bloc that does not have access to Telegram’s content.

Telegram maintains its own servers around the world, and routing goes via Amazon, Cloudfare and Google. Since the start of Telegram, US intel/surveillance has the means to easily block it – if they feel like it.

The EU is a different ball game. So here we have Brussels, via Paris, trying to acquire at least some control over Telegram – and social networks in general. A crucial reminder – which could be billed under the Pathetic Tech department: Europe has no (italics mine) social networks.

Hence the non-stop threats against Twitter/X and the neo-Orwellian Digital Services Act over the responsibility of platforms in terms of content, which applies to all of them, and not only Telegram.

The EU and France desperately want what the hegemonic power already has, in droves: access to everything, right here, right now, with no legal documentation whatsoever.

The key question now is: will they get it by applying pressure over Pavel Durov? There’s no evidence he has Telegram’s encryption keys. What if they got the wrong guy?

Nikolai Durov, Pavels’ ultra-discreet brother, is the prime genius architect of Telegram: math master, two PhDs, gold medals in the International Mathematical Olympiad. The French would rather cut a deal – thus the extended interrogation: but that would imply breaking Pavel so he would influence Nikolai to hand over those fabled keys.

Why Now? And Who Profits?

Predictably, Durov’s interrogation goes on with zero transparence. France is an excruciatingly secretive society, prone to absolute silence on serious matters, nerve-wracking slow, punctuated by rare formal declarations. It’s all about procedure – and the bureaucracy is stultifying.

Yet French bureaucracy may have given a precious hint on what really bothers them. They simply cannot accept that anyone uses – or provides – the means of “obfuscation” in terms of financial transactions, bypassing censorship and bypassing surveillance.

So this may go way beyond the obsession to get some or all of Telegram’s encryption keys. The French bureaucratic apparatus wants to go no holds barred to suppress any possibility of any bypassing – while retaining the power to punish anyone.

If the saga goes on and on, leading to a trial and eventually a 20-year prison sentence, that means Durov would not be broken facing the bureaucratic apparatus, and he will always remain “an accomplice”.

Hardly likely. Bye bye to unlimited glitz and glamour, in exchange for a daily stale baguette in a French gaol?

Two more inevitable questions. Why now? Because the EU needs it, badly. And who profits? The leading candidates are the “esprit de corps” of ultra-regimented French bureaucracy and their Franco-European oligarch connections. Envy is also in the cards. Durov is Russian, an outsider, and Telegram – with a billion users worldwide – is a resounding success.

Anything can happen further on down the road – including the blocking of Telegram in France and the EU. The Global Majority could not care less. Meanwhile, multitudes marvel at how a narcissist tech globalist could be so naïve to believe that liberal totalitarianism would ever protect his freedom.

END

FRANCE

(Johnson)

The author does a great job outlining the mess that is inside France right now politically

(Johnson)

French Left Calls For Mass Protest Against Macron After He Blocks Its Choice For French PM

Wednesday, Aug 28, 2024 – 05:00 AM

Authored by Jake Johnson via Common Dreams,

Leftist parties in France on Tuesday accused President Emmanuel Macron of election theft and announced mass protests after he rejected Nouveau Front Populaire’s proposed candidate for prime minister, even though the left-wing coalition won the most seats in a snap parliamentary contest last month.

The left-wing parties that formed NFP in June to fight off the surging far-right expressed outrage at Macron’s decision, with the Jean-Luc Mélenchon-led La France Insoumise (LFI) Party condemning Macron’s dismissal of a leftist government as a “coup” and urging a “firm response from French society.”

Backing demands from youth-led organizations, the party specifically called for “a large demonstration against Macron’s coup on September 7” and expressed “hope that the political, union, and allied forces committed to the defense of democracy will join this call.”

Marine Tondelier, the leader of France’s Green Party, said Tuesday that “this election is being stolen from us” and declared that “the people must get rid of Macron for the good of democracy.”

“He is chaos and instability,” Tondelier added. The French political system has been engulfed in chaos since Macron called snap elections in June after his party performed dreadfully in European Parliament elections in June as Marine Le Pen’s far-right, xenophobic National Rally surged.

While the French left and Macron allies successfully teamed up last month to prevent the National Rally from seizing control of the nation’s government, NFP’s stunning victory in the snap election created a new dilemma for Macron, who has been openly hostile to the left since taking office in 2017.

“Facing a hung parliament in which each of the three almost equal groupings—the left, Macron’s centrist bloc, and the far-right National Rally—have ruled out forming a coalition, the president appeared to be back to square one,” Reuters reported.

Macron claimed Monday that a leftist-led government “would immediately have a majority of more than 350 MPs against it, effectively preventing it from acting.”

So Macron called snap elections. The left won. Macron refuses to honor the election results. How is this not a coup? How is France not now a dictatorship? Where the f**k is our so-called, famous free press on this? Not a peep.

— Eve Ottenberg (@OttenbergEve) August 26, 2024

“In view of the opinions expressed by the political leaders consulted, the institutional stability of our country means that this option should not be pursued,” said Macron, ruling out the NFP’s candidate for prime minister, Lucie Castets.

Protesting Macron’s decision, leftist leaders boycotted a fresh round of negotiations on Tuesday, with Tondelier saying that “we’re not going to continue these sham consultations with a president who doesn’t listen anyway… and is obsessed with keeping control.”

“He’s not looking for a solution, he’s trying to obstruct it,” said Tondelier.In a social media post on Monday, Mélenchon pledged to move ahead with an impeachment motion against Macron, calling for a “swift and firm” response to the French president.

What's so fascinating about what Macron has been doing these past few days is how contradictory and bizarre everything is.

1) The arrest of Durov. Macron's flagship economic measure was to make France into a «start-up nation». He's been rehashing this over and over since the… https://t.co/mATlgVj5Wl

— Arnaud Bertrand (@RnaudBertrand) August 27, 2024

“The president of the republic has just created a situation of exceptional gravity,” Mélenchon wrote.

end

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/WEST BANK/

the largest counterterror operation in the West Bank. Israel is slowly removing these terrorists

(JerusalemPost)

Hundreds of IDF soldiers conduct largest W. Bank counterterror operation in several months

The IDF, in coordination with the IAF and Shin Bet, conducted the largest operation in the West Bank in several months against terror activity.

By JERUSALEM POST STAFF, YONAH JEREMY BOBAUGUST 28, 2024 01:15Updated: AUGUST 28, 2024 12:30

https://player.jpost.com/public/player.html?player=jpost&media=3761639&url=https://www.jpost.com/breaking-news/article-816703The Israeli security forces conducted an aerial counterterrorism operation in the area of Far’a in the West Bank on August 28, 2024. (credit: IDF spokesperson unit)

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The IDF conducted the most extensive counterterror operation in the West Bank in several months, the military reported on Wednesday morning.

The Israel Border Police, the ISA, and the IDF initiated a counterterrorism operation in Jenin and Tulkarem in response to the attempted suicide bombing attack in Tel Aviv on August 18. The operation involved hundreds of IDF troops with extensive coordinated air support.

In the area of Jenin, the IAF eliminated three armed terrorists who posed a threat to the security forces in an aerial strike. 

The security forces eliminated two additional armed terrorists, detained wanted suspects, and confiscated military equipment, weapons, and ammunition. 

Explosives that were planted beneath roads in the areas of Jenin and Tulkarm, intended to be detonated in attacks against the security forces, were exposed and dismantled by the IDF. 

Meanwhile, the IAF conducted an additional operation in the area of Al Far’a, south of Jenin, striking four armed terrorists who had been involved in terror activities and had posed a threat to the security forces.  

A spokesman for the Red Crescent confirmed that 10 Palestinians had been killed during the operation and 15 others wounded.

https://player.jpost.com/public/player.html?player=jpost&media=3761647&url=www.jpost.comMenashe Brigade in counterterrorism operation in the West Bank on August 28, 2024. (credit: IDF spokesperson unit)

Additionally, Israeli media reported IDF operations at the Ibn Sinai Hospital.

Drone strike killed five on Monday

Previously in Tulkarm, the IDF killed five in a drone strike on a terror operations room in the Nur al-Shams refugee camp on Monday.

---

---

The IDF confirmed that one of those killed was a terrorist released in the latest hostage deal in November 2023.

Throughout a 14-hour operation in Tulkarm in late August, three terrorists were killed by the Israeli air force, and the IDF destroyed laboratories producing explosives.

Additionally, Duvdevan unit soldiers destroyed an apartment of a wanted individual while arresting another. The IDF also destroyed explosives planted along the side of the road. 

This is a developing story

END

West Bank Explodes Overnight With Largest IDF Raid In Decades, ‘Evacuations’ Could Be Next

Wednesday, Aug 28, 2024 – 11:10 AM

The situation in the already restive and tense West Bank has exploded overnight, following major Israeli military raids into the Palestinian territory involving hundreds of IDF troops.

Three areas were targeted simultaneously in what is the largest security raid on the occupied West Bank in two decades. Even fighter jets provided support on the assault on Jenin, Tulkarem and Tubas – and drones and bulldozers were seen operating as well. The ongoing operation impacts an area of some 80,000 Palestinians total.

At least ten Palestinians have been killed, including three after a targeted drone strike on their vehicle.

Israel’s military has said that the nine deceased were “armed terrorists who posed a threat to security forces.” The IDF further said “wanted suspects” have been rounded up in in Jenin and Tulkarem, and that IEDs have been uncovered and dismantled.

While much of the Gaza Strip has seen frequent evacuation orders due to the over 10-month long IDF anti-Hamas operation there, Israeli leadership is controversy mulling potential evacuations for parts of the West Bank.

Large-scale evacuations would be an unprecedented move in the territory which is administered by the Palestinian Authority (PA).

lsrael launches mass military operation in northern West Bank.

Late last night, the lsraeli occupation forces announced they are to launch a large-scale military operation targeting northern West Bank.

Among the areas targeted are Jenin, Tubas and Tulkarm, which were indeed… pic.twitter.com/iCl06MVFKk

— TIMES OF GAZA (@Timesofgaza) August 28, 2024

Foreign Minister Israel Katz on Wednesday said “We need to deal with the [terror] threat exactly as we deal with terror infrastructure in Gaza, including the temporary evacuation of Palestinian civilians and any other step needed.”

Palestinian officials and activists have warned that this would be a form of ethnic cleansing – given also that already in many of these areas Jewish settlers have moved in as part of efforts to take the land for Israel.

Katz said a full evacuation would be justified to disrupt alleged Iranian smuggling networks. “Iran is working to establish a terror front against Israel in [the West Bank], according to the model it used in Lebanon and Gaza, by funding and arming terrorists and smuggling advanced weapons from Jordan,” he said on X.

Israeli occupation forces block the entrance to the Jenin Governmental Hospital in the occupied West Bank, amid threats of an imminent raid of the hospital by the Israeli military. pic.twitter.com/dOhcYDRNDR

— Quds News Network (@QudsNen) August 28, 2024

Already a strict curfew has been declared in parts of the West Bank where Israel’s military is operating: 

Kamal Abu al-Rub, the Palestinian governor of Jenin, said Israeli officials had informed their Palestinian counterparts that they were imposing a formal curfew on parts of the city. Israeli forces were surrounding the city’s hospitals, entrances, and exits, he said. “People are living in a state of terror and anxiety,” Abu al-Rub said.

The Jenin governor has also described the IDF operations as “unusually fierce” after gunfire and explosions rang out over the territory overnight.

The three targeted territories are also home to sprawling refugee camps, hosting the displaced from other parts of historic Palestine…

But Israeli leaders have said “this is war”.  Agriculture Minister Avi Dichter has been a notable figure to back Katz’s call for West Bank evacuations, telling Army Radio that “if we ​​have to evacuate people in order to keep our soldiers safe, they will be evacuated. They are not being sent abroad — they are being evacuated and after that they will return home.”

ISRAEL WEST BANK

IDF circles hospitals in the West Bank, questions staff – report

By JERUSALEM POST STAFFAUGUST 28, 2024 10:02

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While operating in the West Bank, IDF soldiers circled hospitals in Jenin, Tulkarm, and Tubas and are questioning the staff, Israeli media reported on Wednesday morning, citing Palestinian reports.

“Plans to storm the hospital, which has been under siege since morning,” claimed Jenin governor concerning the IDF’s next steps.

END

ISRAEL HEZBOLLAH

Israeli air strike hits truck in Lebanon carrying military equipment, security source says

An Israeli airstrike struck a pickup truck carrying military equipment in northeast Lebanon, amid rising tensions with Hezbollah.

By REUTERSAUGUST 28, 2024 00:10Updated: AUGUST 28, 2024 04:58

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An Israeli air strike hit a pickup truck traveling in northeast Lebanon late on Tuesday, two security sources told Reuters, with one of the sources saying it carried military equipment.

The two sources said the strike hit a pickup near Chaat, a remote area of Lebanon near the Syrian border, but that the driver survived.

One of the sources said it was likely the military equipment being transported was a damaged rocket launcher on the way to be repaired.

Two days earlier, the Lebanese terrorist group Hezbollah and the Israeli military engaged in one of the most intense exchanges of fire between them over the last 10 months amid fears that Israel’s war in Gaza would become a wider regional conflict.

Hezbollah fired drones and rockets at Israel early on Sunday to avenge a top military commander killed by Israel last month.

Israel’s statement

Israel has said its strikes on Lebanon on Sunday destroyed Hezbollah rocket launch sites and prevented a wider attack by the group. Hezbollah leader Sayyed Hassan Nasrallah said the attack had gone as planned and that Israeli strikes afterwards had damaged some Hezbollah launch sites.

On Tuesday, a UN peacekeeping force told Reuters that it had detected a rocket launch from near one of its positions in southern Lebanon.

END

ISRAEL/GAZA

This is dangerous as it could lead to a huge outbreak of polio

(zerohedge)

EU Urges ‘Polio Ceasefire’ In Gaza As WHO Seeks To Vaccinate 640,000 Palestinian Children

Wednesday, Aug 28, 2024 – 02:45 AM

We reported earlier this month that Gaza recorded its first case of polio since the highly contagious virus was eradicated there 25 years ago.

The Gaza Health Ministry has said that an 10-month-old infant in the central city of Deir al-Balah “who has not received any polio vaccine dose” tested positive for the virus. The baby has since reportedly been paralyzed by the type 2 polio virus, which can be fatal. The ministry has since indicated that “a number of children” have presented with symptoms consistent with polio.

On Tuesday European Union foreign policy chief Josep Borrell has warned that the spread of polio threatens all children in Gaza. He is calling for an urgent polio ceasefire.

Borrell has announced the need for an “immediate 3-day humanitarian ceasefire” to enable vaccination, and emphasized that “Our humanity demands it.” He said that the World Health Organization (WHO) and UNICEF must be allowed full access to be able to vaccinate the Gaza Strip and this should happen “independent of wider negotiations.”

These efforts have already begun, but distributing vaccines in an active war zone and with bombs falling will certainly be an uphill battle. The New York Times details of where the campaign stands:

More than 1.2 million doses of the polio vaccine arrived in Gaza on Monday, in preparation for an expansive effort to inoculate more than 640,000 Palestinian children and curb a potential outbreak, the United Nations, Israel and health authorities in Gaza said.

…UNICEF, the U.N. children’s fund, said it was delivering the vaccines in cooperation with the World Health Organization, the main U.N. agency that aids Palestinians, UNRWA; and other groups. UNRWA officials said they hoped to deliver the first vaccines to Gazan children starting on Saturday.

But the campaign will be “a very difficult operation and its success will depend very much on the conditions on the ground at the time,” Sam Rose, a senior official from the agency, said at a news briefing on Monday.

United Nations Secretary-General António Guterres has been calling for a voluntary ceasefire to allow health workers to conduct their work.

For weeks now he has implored Israeli and Palestinian forces to lay down their arms to at least allow the Strip to be vaccinated. “I am appealing to all parties to provide concrete assurances right away guaranteeing humanitarian pauses for the campaign,” he previously told reporters at the UN headquarters in New York.

The quick spread of polio threatens all children in Gaza, already weakened by displacement, deprivation & malnourishment. I urge an immediate 3-day humanitarian ceasefire to enable vaccination by

·

43.6K Views

The quick spread of polio threatens all children in Gaza, already weakened by displacement, deprivation & malnourishment.

I urge an immediate 3-day humanitarian ceasefire to enable vaccination by @WHO & @UNICEF – independent of wider negotiations.

Our humanity demands it.

— Josep Borrell Fontelles (@JosepBorrellF) August 27, 2024

“Let’s be clear: The ultimate vaccine for polio is peace and an immediate humanitarian cease-fire,” Guterres stressed. “But in any case, a polio pause is a must.”

At this moment the IDF military’s campaign to rescue the hostages is still in full force, and there is unlikely to be a complete pause in fighting; however, it’s possible there could be a slow down in fighting in some locales

END

ISRAEL/HEZBOLLAH

Israeli strike kills four Islamic Jihad and Hezbollah operatives on Syria-Lebanon border

An Israeli drone strike killed three Palestinian Islamic Jihad terrorists and one Hezbollah terrorist near the Syria-Lebanon border on Wednesday.

By REUTERSAUGUST 28, 2024 13:23

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An Israeli drone strike on a car crossing through a Syrian checkpoint near the border with Lebanon on Wednesday killed three members of the Palestinian Islamic Jihad and one member of the Lebanese terrorist group Hezbollah, sources told Reuters.

According to the sources, the car was not transporting weapons. There was no immediate comment from Hezbollah or from the Palestinian Islamic Jihad terror organizations, to which one of the sources said the three Palestinian fighters belonged.

Local Syrian official Abdo al-Taqi told a Syrian radio station that a car was targeted on Wednesday morning on the road between the Syrian capital, Damascus, and Lebanon’s capital, Beirut, and four people were killed.

Wednesday’s drone strike came hours after an Israeli airstrike hit a pickup truck in northeast Lebanon near the Syrian border. A security source told Reuters that the vehicle was carrying military equipment, likely a damaged rocket launcher on the way to be repaired.

Hezbollah, Islamic Jihad, and other armed factions have launched rockets and drones at Israel from southern Lebanon. The groups have strong ties to Iran and to Syria’s government and have transported fighters and weapons through the porous Syrian-Lebanese border.

Israel has not commented on the incident.

While Israel often takes responsibility for strikes carried out in Lebanon, it rarely does the same for strikes it is accused of carrying out in Syria.

Israel has targeted weapons shipments and other military infrastructure in Syria for years and has stepped up its strikes there since the Hamas terrorist group attacked Israel on October 7.

ISRAEL/HOUTHIS/IRAN/GLOBE

US Warns Tanker Hit By Houthis Could Cause Largest Ship Oil Spill In History

Wednesday, Aug 28, 2024 – 12:25 PM

Via Middle East Eye,

The US Pentagon has warned that an oil tanker attacked by Yemen’s Houthis last week is still on fire and could be leaking oil into the Red Sea, threatening an ecological disaster.

Last week the group targeted the Greek-flagged crude oil tanker Sounion with three projectiles, sparking a fire and disabling the engine. 

The Sounion’s crew were rescued by a French naval vessel on Thursday after drifting for a day 77 nautical miles west of the port of Hodeidah.

On Friday the group, which controls most of Yemen and says its attacks are in solidarity with Palestinians in Gaza, posted a video purporting to show them setting the ship alight.

The EU’s Aspides task force, an international naval force, said in a statement on X that there was no sign of fire on board the ship when the crew were rescued.

The tanker is carrying more than 150,000 tonnes of crude oil. Should a spill occur, it could be among the largest from a ship in recorded history.  

The US State Department warned in a statement on Saturday that the potential spill could be four times the size of the 1989 Exxon Valdez disaster, when 257,000 barrels of oil leaked off the coast of Alaska.

According to Aspides, the EU military task force against the Houthis, the wreckage risks a “severe ecological disaster.“

Pentagon spokesperson Air Force Maj Gen Patrick Ryder said on Tuesday that a third party had sent two tugboats to salvage the wreck but had been deterred by Houthi threats to attack them.

Ryder condemned the attacks as “reckless acts of terrorism” which “imperil the vibrant maritime ecosystem in the Red Sea and Gulf of Aden, the Houthis’ own back yard,” adding that the US military was working with partners in the region to mitigate any environmental impact.

Yemen’s Ansar Allah group, known as the Houthis, started targeting any ship they deemed Israel-linked traversing the Red Sea in October 2023, vowing not to stop until Israel ends its war on Gaza.

Some ships with no relation to Israel have also been targeted over recent months.

While the group has so far sunk two ships – the Rubymar attacked in February and the Greek-flagged Tutor, which was targeted in June – the Sounion attack marks the first time the fighters have intentionally blown up an abandoned ship.

*   *   * 

“As the current focus is on a possible oil leak from the Sounion, attention needs to be given to the challenges that will complicate salvage operations, and how navy forces can assist with that. At least two past ship attacks showed that the Houthis can return to the scene of a stricken commercial vessel to prevent or obstruct salvage operations. In the case of the Sounion, navy forces in the region may need to assist in preventing the Houthis from returning back to further damage the tanker,” Maritime expert Noam Raydan, and author of The Chokepoint, pointed out. 

Here’s the latest positioning of US military maritime assets in the Middle East. 

*

END

end

RUSSIA/UKRAINE/

Drone Strike Hits Russian Oil Depot Which Lies At A Record 1,500km From Ukraine

BY TYLER DURDEN

WEDNESDAY, AUG 28, 2024 – 08:45 AM

A new wave of Ukrainian drone attacks on Russia has damaged and set alight several more oil depots and energy facilities, one location notably which lies very deep into Russian territory.

On Wednesday drones struck the far away town of Kotelnich in Russia’s Kirov Oblast. Regional Governor Alexander Sokolov said that two inbound drones were intercepted by air defenses, while a third “fell” and a blaze subsequently erupted near the Zenit oil facility.

This clearly is one of the deepest drone strikes into Russia of the entire war, given Kotelnich lies some 1,500 km (930 miles) northeast of the border with Ukraine. It is likely a record distance.

The governor has since said the situation is “under control” and that there were no casualties as a result of the attack.

Russia’s defense ministry in a statement noted other overnight drone attacks as well, including shoot-downs of eight drones over the Voronezh Oblast and four over Rostov Oblast.

However, a depot in Rostov’s Kamensky district was apparently struck and caught fire, resulting in emergency crews seeking to extinguish it.

Another Russian oil depot in Rostov region on fire after it was targeted by Ukrainian kamikaze UAVs, this time in Kamensky district. pic.twitter.com/ydrJcKZM3f

— Clash Report (@clashreport) August 28, 2024

At least three tanks are burning at the oil depot, the Baza Telegram channel – seen as close to Russian security services – indicated. Videos showed large blazes overnight.

Already, a large fire has been raging in the city of Proletarsk in Rostov region going all the way back to August 18, which lies some 200km from the Ukrainian border.

Earlier in the war, a number of drones on a few occasions had reached near the capital of Moscow which lies some 500km from the closest Ukrainian border point. Since then these drones have been reaching deeper and deeper, and often because of their small size and low flight can evade Russian radar and anti-air systems. They are now hitting targets over 1,000km away, and this is likely with the help of NATO advisers and technology.

This morning, Ukrainian forces successfully conducted one of the deepest drone attacks of the war, striking a Russian oil depot in Kirov Oblast over 1100km from Ukraine. Local sources report that 4 Ukrainian drones hit the depot.

5:20 AM · Aug 28, 2024

·

132.9K Views

twitter.com/Osinttechnical/status/1828724398704017737?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%

It has been a strategy of Ukraine’s to systematically target Russian oil facilities, seeking to disrupt the industry and put a dent in crucial funding of Moscow’s war machine. But this has only resulted in stepped-up retaliatory efforts to degrade Ukraine’s national energy grid.

END

RUSSIA//

END

UKRAINE/RUSSIA/

end

RUSSIA UKRAINE/

END

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

Please do not take this vaccine….it will harm you

(Phillips/EpochTimes)

WHO Launches Global Monkeypox Strategy, Including Strategic Vaccinations

Wednesday, Aug 28, 2024 – 03:30 AM

Authored by Jack Phillips via The Epoch Times (emphasis ours),

The World Health Organization (WHO) is launching a global strategy to halt the transmission of mpox, formerly called monkeypox. The plan, announced on Aug. 26, will entail a “strategic vaccination” campaign.

The U.N. health agency, which declared a public health emergency of international concern two weeks ago, said that the plan will last six months—September 2024 to February 2025—and will receive $135 million in funding.

“Strategic vaccination” efforts will target people at the highest risk such as “close contacts of recent cases and healthcare workers, to interrupt transmission chains,” the agency said.

The WHO plan will focus on “implementing comprehensive surveillance, prevention, readiness, and response strategies; advancing research and equitable access to medical countermeasures like diagnostic tests and vaccines; minimizing animal-to-human transmission; and empowering communities to actively participate in outbreak prevention and control,” according to a statement.

Officials say that a subvariant of the virus has caused global concern because it seems to spread more easily through routine close contact.

WHO Director-General Tedros Adhanom Ghebreyesus said in the Aug. 26 statement that the mpox outbreak, which originated in the Democratic Republic of the Congo, “can be controlled and can be stopped.”

“Doing so requires a comprehensive and coordinated plan of action between international agencies and national and local partners, civil society, researchers and manufacturers, and our Member States,” he said.

More Cases Confirmed Outside Africa

The Philippines has confirmed two more mpox virus infections of the milder Clade II variety, its health ministry said on Aug. 26, bringing the number of active cases to three.

“We continue to see local transmission of mpox Clade II here in the Philippines, in Metro Manila in particular,” Secretary of Health Teodoro Herbosa said in a statement.

He added that newly confirmed cases were a 37-year-old male in Metro Manila who had a rash on his body and was brought to a government hospital and a 32-year-old male from the capital who had lesions on his skin.

The Philippines announced last week that it had detected a case of the mpox virus’s milder variant in a 33-year-old male who had no travel history outside the Philippines.

The Philippines has had 12 laboratory-confirmed cases since July 2022. The World Health Organization earlier this month declared mpox a global public health emergency, its highest form of alert, for the second time in two years, because of an outbreak in the Democratic Republic of Congo that had spread to neighboring countries.

Since January 2023, the Democratic Republic of the Congo has reported more than 27,000 suspected mpox cases and more than 1,300 deaths.

The disease leads to flu-like symptoms and pus-filled lesions. It is usually mild but can be fatal. Children, pregnant women, and people with weakened immune systems, such as those with HIV, are all at higher risk of complications.

Other countries outside the African continent that have confirmed mpox cases in recent days include Sweden and Thailand.

“We have now also during the afternoon had confirmation that we have one case in Sweden of the more grave type of mpox, the one called Clade I,” Swedish Minister for Social Affairs and Public Health Jakob Forssmed said at a news conference at the time.

No Lockdowns

Earlier in August, a WHO official stressed that mpox would not cause lockdowns or closures or restrict other activity.

“Are we going to go in lockdown in the WHO European region, it’s another COVID-19? The answer is clearly: ‘no,’” Hans Kluge, WHO regional director for Europe, said days after the WHO declaration was issued.

“Two years ago, we controlled mpox in Europe thanks to the direct engagement with the most affected communities of men who have sex with men.”

In an update around the same time, the U.S. Centers for Disease Control and Prevention said that mpox currently poses a low risk to the United States and that no cases of Clade I mpox have been found in the country.

Reuters contributed to this report.

end

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

The American people were so screwed across COVID, we had Zuckerberg Facebook refusing to print the truth we were sharing, censoring us & we had media like FOX & CNN etc. shilling for a deadly vaccine

e.g. via corrupt television so called doctors like Marc Siegel and Nicole Saphier promoting a vaccine that they knew was not effective and was not safety tested; they were incentivized

Dr. Paul AlexanderAug 28

READ IN APP

so, we were screwed by two entities…social media and television media.

end

SLAY NEWS

Kidney Failure Deaths Skyrocket Among Covid-VaxxedOne of America’s leading data experts has issued a bone-chilling warning to the public after uncovering evidence that deaths related to kidney failure have skyrocketed since Covid mRNA shots were unleashed.READ MORE

Top EU Lawmaker Blows Whistle: ‘Monkeypox’ Is the ‘Next Plandemic’A top European Union (EU) lawmaker has issued a warning to the public that “monkeypox” is the “next plandemic” to soon be unleashed.READ MORE

Longtime Kamala Harris Ally Refuses to Endorse Her Campaign for PresidentA vulnerable senator is refusing to endorse Democrat presidential nominee Kamala Harris’s 2024 campaign, despite being a longtime ally of the vice president.READ MORE

Facebook to Continue Using ‘Fact-Checkers’ to Censor Content, despite Zuckerberg’s Vow to End CensorshipMeta’s Facebook and Instagram platforms will continue to use so-called “fact-checkers” to censor content, despite a pledge from CEO Mark Zuckerberg to end censorship.READ MORE

Democrats Privately Admit Kamala Harris’ Price Control Plan Is an Empty Ploy to Get VotesDemocrats have privately admitted that Kamala Harris’s price control plan is nothing more than an empty pledge that the party’s presidential nominee knows will be dead on arrival.READ MORE

Former Prosecutor Reveals Trump Could Delay ‘Hush Money’ Sentencing ‘Forever’A former prosecutor has revealed that President Donald Trump may be able to indefinitely delay the sentencing for a politically motivated “hush money” case in New York.READ MORE

Michigan Judge Rules Cornel West Must Appear on Ballot If QualifiedA Michigan judge has overruled a decision to keep left-wing independent presidential candidate Cornel West off the ballot in the state.READ MORE

Beloved Christian Comedian Dies of ‘Sudden Heart-Related Issue’Beloved Christian comedian Mutzie Daniel Forestier has died suddenly of a “heart-related issue,” his family has announced. READ MORE

Trump Discusses Assassination Attempt in New Interview: ‘Divine intervention’President Donald Trump has shared details about his experience after the failed assassination attempt against him at a Butler, Pennsylvania rally on July 13.READ MORE

Squatters Seize Mansion Next Door to LeBron James’ Multi-Million Dollar HomeThe multi-million dollar mansion next door to “woke” NBA star LeBron James’s California home has been taken over by a group of “professional squatters.”READ MORE

Video of Kamala Harris Gloating She Was ‘Last Person in the Room’ for Afghanistan Withdrawal Decision Goes Viral on AnniversaryOn the third anniversary of the deadly Abbey Gate bombing that killed 13 Americans during the botched withdrawal of U.S. troops from Afghanistan, a video has gone viral of Democrat presidential nominee Kamala Harris gloating that she was central to President Joe Biden’s disastrous decisions that led to that fatal day.READ MORE

Former LPGA Tour Golfer Amy Olson Blasts Inclusion of Male Player at Female Tournament: ‘Unfair’Former LPGA Tour golfer Amy Olson is among critics calling out organizers for allowing a male player to compete in a major women’s golf tournament.READ MORE

Trump Raises ‘Questions’ about Debate with Kamala Harris on ‘ABC FAKE NEWS’President Donald Trump has warned that there are “a lot of questions to answer” regarding his upcoming debate with Democrat presidential nominee Kamala Harris on “ABC FAKE NEWS.”READ MORE

EVOL NEWS

RNC Sues Detroit, Alleging City Did Not Hire Enough Republican Poll Watchers – EVOLREAD MORE…

TEST NEWS:

Germany Begins Cracking Down on Doctors Who Refuse to Push Covid Shots – EVOL Read more…BREAKING: Zuckerberg Admits Biden Admin Pressured Censorship – EVOLRead more… Scumbag Journos Change Tune When Klepto Kamala Steals Trump’s Tips – EVOLRead more …Mark Zuckerberg Admits to Congress he Caved to Biden Harris Regime, Won’t Censor the Same Way Anymore or Meddle in Elections – EVOLRead more. ..JUST IN: Gov. Jeff Landry Signs New Executive Order Mandating Citizenship Verification for Voter Registration – EVOLRead more… BREAKING NEWS: Explosive Documents Uncover Kamala Harris Lied About Afghan ‘Refugees’ Brought to the US – EVOLRead more. ..Trump-Appointed Judge Temporarily Halts Biden’s Push to Grant Amnesty and Citizenship Pathway to Over a Million Illegal Aliens – EVOLRead more. ..Trump Proposes Creation of Space National Guard – EVOLRead more…

VIEW MORE

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIES

WEF Threatens to Unleash ‘Global Chaos’ to Usher In ‘Great Reset’The World Economic Forum (WEF) is threatening to unleash “global chaos” on humanity in order to force the general public to comply with founder Klaus Schwab’s “great reset” agenda.READ THE FULL REPORT

District Attorney Fani Willis to Face Serious Consequences Over Speech at Atlanta ChurchOn Monday, lawyers for President Donald Trump filed a motion with the Georgia Court of Appeals seeking the removal of Fulton County District Attorney Fani Willis from the case.READ THE FULL REPORT

Supreme Court Justice Ketanji Brown Jackson Warns She Is Prepared to Rule on a Disputed Presidential ElectionSupreme Court Justice Ketanji Brown Jackson has stated that she is preparing herself to make a decision on the results of a disputed presidential election.READ THE FULL REPORT

BREAKING: Michigan’s Democratic Secretary of State Confirms RFK Jr. Will Stay on 2024 Ballot Despite Campaign SuspensionDespite suspending his campaign, RFK Jr. will remain on the ballot for Michigan’s 2024 presidential election.READ THE FULL REPORT

DNC Files Lawsuit Against Georgia Election Board for Prioritizing Accurate Representation of Voter IntentIn a nation where common sense should prevail, one might expect widespread support for protecting the integrity of our elections.READ THE FULL REPORT

Germany Begins Cracking Down on Doctors Who Refuse to Push Covid ShotsDoctors in Germany are now facing a crackdown from the government if they refuse to push experimental Covid mRNA shots onto their patients.READ THE FULL REPORT

BREAKING NEWS: Explosive Documents Uncover Kamala Harris Lied About Afghan ‘Refugees’ Brought to the USNew documents obtained by America First Legal reveal that the Biden-Harris administration claimed to be importing Afghans as refugees who had assisted the U.S. government.READ THE FULL REPORT

Gov. Jeff Landry Signs New Executive Order Mandating Citizenship Verification for Voter RegistrationLouisiana Governor Jeff Landry has signed Executive Order JML 24-136, emphasizing the state’s commitment to ensuring that only U.S. citizens are eligible to vote in state elections.READ THE FULL REPORT

Trump-Appointed Judge Temporarily Halts Biden’s Push to Grant Amnesty and Citizenship Pathway to Over a Million Illegal AliensA federal judge has temporarily halted the Biden administration’s latest attempt to grant amnesty to illegal aliens married to U.S. citizens.READ THE FULL REPORT

Mark Zuckerberg Admits to Congress he Caved to Biden Harris Regime, Won’t Censor the Same Way Anymore or Meddle in ElectionsIn a twist that could only be described as a plot from a cyberpunk novel where the protagonist has a sudden change of heart, Mark Zuckerberg, the enigmatic overlord of Meta, has penned what might be his most surprising status update yet—a letter expressing regret over his company’s role in censoring content at the behest of the Biden-Harris administration.READ THE FULL REPORT

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

PAKISTAN

CANADA

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

EURO VS USA DOLLAR:  1.1127 DOWN 0.0050

USA/ YEN 144.35 UP 0.389 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 1.3217 DOWN 0.0038

USA/CAN DOLLAR:  1.3463 UP 16 (CDN DOLLAR UP 16 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 11.30 PTS OR 0.41%

 Hang Seng CLOSED DOWN 182.22 PTS OR 1.02%

AUSTRALIA CLOSED DOWN .07%

 // EUROPEAN BOURSE:     ALL MOSTLY GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL MOSTLY GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 182,22 PTS OR 1.02 %

/SHANGHAI CLOSED DOWN 11.30 PTS OR 0.40%

AUSTRALIA BOURSE CLOSED DOWN 0.07%

(Nikkei (Japan) CLOSED UP 83.14 PTS OR 0.22%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2504.30

silver:$29.44

USA dollar index early WEDNESDAY  morning: 100.98 UP 42 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.865%  down 2 in basis point(s) yield

JAPANESE BOND YIELD: +0.899% UP 1 AND 4/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.089 DOWN 2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.642 DOWN 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2545 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY  

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

Euro/USA 1.11179 DOWN .0058 OR 58 basis points

USA/Japan: 144.71 UP 0.741 OR YEN IS DOWN 74 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE

Great Britain 10 YR RATE 4.0390 UP 4 BASIS POINTS //

Canadian dollar DOWN .0017 OR 17 BASIS pts  to 1.3463

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED DOWN AT 7.1315 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1339)

TURKISH LIRA:  34,05 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.899

Your closing 10 yr US bond yield DOWN 1 in basis points from TUESDAY at  3.835% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.125 DOWN 2 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.861 DOWN 7 BASIS PTS.

GOLD AT 11;00 AM 2506,25

SILVER AT 11;00: 29.36

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

London: CLOSED DOWN 1.61 PTS OR .02%

German Dax :  CLOSED UP 100.48 PTS OR 0.54%

Paris CAC CLOSED UP 11.89 PTS OR 0.16%

Spain IBEX CLOSED UP 5.10 OR 0.05%

Italian MIB: CLOSED UP 101.25 OR 0.30

WTI Oil price  74,64 12EST/

Brent Oil:  78.85 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91,45 ROUBLE UP 0 AND  5/100      

GERMAN 10 YR BOND YIELD; +2.2545 DOWN 2 BASIS PTS.

UK 10 YR YIELD: 4.0390 DOWN 1 BASIS POINTS

CDN 10 YEAR RATE: 3.092 DOWN 2 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1114 DOWN 0.0063   OR 63 BASIS POINTS

British Pound: 1.3154 DOWN 0.0071 OR 71 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.0000 UP 0 BASIS PTS//

JAPAN 10 YR YIELD: 0.900

USA dollar vs Japanese Yen: 144.72 UP 0.749 YEN DOWN 75 BASIS PTS//

USA dollar vs Canadian dollar: 1.3476 UP 0.0029//CDN dollar DOWN 29 BASIS PTS

West Texas intermediate oil: 74.23

Brent OIL:  78.77

USA 10 yr bond yield UP 1 BASIS pts to 3.846

USA 30 yr bond yield UP 1 BASIS PTS to 4.133%

USA 2 YR BOND: DOWN 3 PTS AT  3.867

CDN 10 YR RATE 3.113 UP 3 BASIS PTS

USA dollar index: 101.01 UP 56 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.05 GETTING QUITE CLOSE TO BLOWING UP/

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

GOLD  2,507.15 3:30 PM

SILVER: 29.22 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 159.08 PTS OR 0.39%

NASDAQ DOWN 230.74 PTS OR .118 %

VOLATILITY INDEX: 17.11 UP 1.68 PTS OR 10.89%

GLD: $231.75 DOWN 1.64 OR 0.70%

SLV/ $26.60 DOWN 0.67 OR 2.45%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Big-Tech, Bullion, & Bitcoin Battered Before NVDA’s Big Night

Wednesday, Aug 28, 2024 – 04:00 PM

Coming off yesterday’s lowest volume (full) session of the year (and Monday was the 2nd lowest), the low level of liquidity was very apparent in today’s anxiety-filled session as traders puked back gains ahead of “the most important earnings announcement ever”.

Nasdaq was clubbed like a baby seal, but all the majors saw two big legs down intraday. That, of course, was met with a wave of BTFDing as the last hour began

Mag7 stocks were dumped for the fifth day in a row…

Source: Bloomberg

Also, ‘most shorted’ stocks were dumped, erasing all the post-Powell euphoria…

Source: Bloomberg

1-Day-VIX soared higher ahead of tonight’s earnings news (higher than VIX)…

Source: Bloomberg

Treasury yields were higher across the curve by 1-2bps on the day with the long-end very modestly underperforming…

Source: Bloomberg

The dollar extended its rebound gains, erasing 75% of the post-Powell plunge…

Source: Bloomberg

Bitcoin was battered today with a big puke shortly after yesterday’s equity cash market closed. The cryptocurrency found support at $58,000 and tested back up to $60,000…

Source: Bloomberg

Gold also tumbled on the day, only to find support at $2500…

Source: Bloomberg

Oil prices dipped for the second day with WTI holding above $74…

Source: Bloomberg

Finally, is it time for stocks to catch back down to bonds’ reality?

Source: Bloomberg

…and will NVDA be the trigger?

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

III  USA ECONOMIC COMMENTARIES

TEXAS

Texas purges over 1 million ineligible voters from its rolls

(Moran)

Abbott Says Texas Has Purged Over A Million Ineligible Voters

Tuesday, Aug 27, 2024 – 08:05 PM

Authored by Rick Moran via PJMedia.com,

Purging voter registration rolls should not be controversial.

The process is part of ensuring the integrity of the vote, making sure that ineligible voters are not allowed a ballot.

But for some Democrats looking to make an issue of purging people from the voter rolls, it’s a racist attempt to deny people of color the right to vote.

Do states purge some eligible voters from the rolls inadvertently or by mistake? No doubt the answer to that question is yes. Perhaps someone who moved forgot to change their address. Perhaps they didn’t notice the postcard that came in the mail reminding them to register with their new address.

The fact is that the overwhelming number of people who are purged from voter rolls were either dead or moved without telling the local registrar. 

Stupidity and laziness are colorblind.

Gov. Greg Abbot (R-Texas) announced yesterday that Texas had purged more than one million voters from the registration rolls.

“The Secretary of State and county voter registrars have an ongoing legal requirement to review the voter rolls, remove ineligible voters, and refer any potential illegal voting to the attorney general’s office and local authorities for investigation and prosecution,” Abbott said in a press release.

“Illegal voting in Texas will never be tolerated. We will continue to actively safeguard Texans’ sacred right to vote while also aggressively protecting our elections from illegal voting.”

Since Senate Bill 1 passed in 2021, 1.1 million people have had their names purged from voter registration rolls. “Among the 1.1 million removed from Texas’s voter rolls are over 457,000 people who died and over 463,000 people on the state’s suspense list, the governor said Monday” reports the Washington Examiner.

Abbott also noted how over 6,500 of these voters removed from Texas’s voter rolls were noncitizens, 1,930 of whom have a voting history. The Texas Secretary of State’s office is working on sending all 1,930 of these records to Attorney General Ken Paxton’s Office for investigation and any legal action.

The Texas governor’s news comes shortly after Gov. Glenn Youngkin (R-VA) issued an executive order to “protect legal voters and accurate counts,” which included “stringent ballot security, complete and thorough counting machine testing,” and “best-in-the-nation voter list maintenance.” The order also revealed that between January 2022 and July 2024, 6,303 noncitizens were removed from the state’s voter rolls.

On Thursday, the Supreme Court ruled on Arizona’s proof of citizenship law, allowing the state to require those registering to vote to present proof of citizenship. Republican National Committee Chairman Lara Trump called the decision “a huge win” for the RNC. She also said the decision “sets a precedent across the country” for other states to take similar action.

“Voting is a sacred right that must be preserved for citizens who qualify under our elections laws,” Texas Secretary of State Jane Nelson said.

“My responsibility is to ensure free and fair elections and that only qualified voters participate.”

New York Post:

As part of the SOS voter roll oversight process, records of potential non-citizens are sent to counties, and voter registrars are required by law to investigate and remove all ineligible voters. The SOS is also by law required to “withhold election funds from a county voter registrar for failure to approve, change, or cancel a voter’s registration in a timely manner,” according to a new law that went into effect in 2021.

Her office “monitors each voter registrar’s list maintenance activity on an ongoing basis for compliance with their voter registration cancellation duties,” Nelson said.

Nelson also reminded registrars that they have the right to initiate their own investigations, as do Texas voters.

In Texas, it’s going to be extremely difficult for an illegal alien to vote, just as it is in every other state. But both Democrats and Republicans should welcome measures that either party takes to prevent election skullduggery.

END

More CRE troubles

(zerohedge)

Older Office Towers In Cities Face “Tsunami Of Trouble”

Wednesday, Aug 28, 2024 – 05:45 AM

Commercial real estate market challenges are more severe for older office towers in downtown metro areas than those outside city centers. The mismatch between funding needs and available credit in a high-interest-rate environment has also intensified the strain on building owners, as elevated tower vacancy rates persist across many markets due to the ongoing trend of remote work becoming the norm. 

Bloomberg penned a CRE note on aging business districts from Los Angeles to Chicago to Boston of zombie towers with high vacancy rates that have no use in today’s economy. 

Big landlords, including Brookfield, Blackstone, and Starwood Capital Group, have walked away from older downtown towers in recent quarters.

The latest data from MSCI shows office values in metro areas have crashed 52% from their highs. Some of the worst declines have occurred in San Francisco, Manhattan, Washington, and Boston.

Between 2019 and 2023, about $557 billion of value evaporated from US offices due to a multi-year slide in demand, with older towers quickly falling out of favor with companies, according to an estimate by economists at Columbia and New York universities. CBRE Group noted that only 2% of towers in the US are considered top-tier, with rents 84% higher than the rest of the market. 

Data from brokerage Savills shows office rents in business districts have grown slower than rents for similar buildings outside metro areas. 

The move to new towers highlights how, for decades, the bubbles in legacy downtown districts, fueling economies, have ended for now, and older towers will have to be torn down.

According to Ruth Colp-Haber, chief executive officer of Wharton Property Advisors, a New York brokerage, landlords of old towers are falling under severe pressure because finding financing in today’s high-rate environment for renovations is extremely tough.

“What we have left are older buildings, many in AAA locations, but facing a tsunami of trouble,” she said, adding, “It used to be there was plenty of business to go around. Now it’s a zero-sum game.”

X user Triple Net Investor provided color on an office tower in crime-ridden Baltimore City that sold at auction for only $4.4 million. The tower was built in the 1960s in a business district that has seen tower prices collapse over the last several years. 

Wow…

A 345k SF office tower in Baltimore sold for $4M

That's a shocking $12 per square foot 😲 pic.twitter.com/vuS2fqaltj

— Triple Net Investor (@TripleNetInvest) August 23, 2024

Following a series of our reports highlighting the crash in tower prices in the Inner Harbor area, under the old leadership of the Baltimore Sun, the paper tried to convince everyone, “Drop in downtown Baltimore real estate values not a crisis.” 

To be very frank. It’s a crisis. Democrats running the crime-ridden metro area are delusional and blinded by their woke religion as the city’s population recently crashed to a 100-year low, and violent crime remains a major issue.

We’ve had conversations with multiple folks at wealth management and investment banking firm Stifel Financial about the latest shift of operations outside the dying business district to a new tower in a much safer and newer district. At first, Stifel contemplated leaving the city for the suburbs because far-left Democrats in City Hall could not enforce law and order.

In a recent note, Goldman’s Vinay Viswanathan told clients some welcoming news about where the CRE downcycle could potentially be… “From a macro perspective, we think commercial property valuations are getting closer to their bottom.” 

Let’s not forget the comments from Rebel Cole, a finance professor at Florida Atlantic University who advises Oaktree Capital Management, who warned early last month, “Compared with the Savings & Loans crisis and 2008, we’re still in the first or second innings” when it comes to distressed CRE assets.

Come on, Jerome Powell, the CRE market needs some sizeable interest rate cuts.

end

Hindenburg rarely misses: Super Micro delays 10 K

(zerohedge)

Super Micro Shares Plunge 15% After Company Delays 10-K, One Day After Hindenburg Alleges Accounting Manipulation

WEDNESDAY, AUG 28, 2024 – 09:35 AM

Shares of Super Micro Computer are down over 15% heading into the cash open after the server company said it would be delaying its 10-K filing for FY 2024. The delay comes one day after short seller Hindenburg Research alleged “fresh evidence” of accounting manipulation at the company. 

“Additional time is needed for SMCI’s management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024,” a filing from the company read. 

Yesterday shares plunged as much as 8% but finished the session only down 2%. Will they repeat the BTFD trend today…

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. 

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

SWAMP STORIES

KING REPORT

The King Report August 28, 2024 Issue 7315

Independent View of the News

BBG’s @lisaabramowicz1: UK yields are rising after Prime Minister Starmer warned that his government’s October budget statement will be “painful” and asked the nation to accept “short-term pain for long-term good” in his first major speech in office. https://t.co/T90KgMhLN0   US Economic Data released on TuesdayJune FHFA House Price Index -0.1% m/m, +0.1% expectedJune S&P CoreLogic 20-City House prices +0.42%m/m & 6.47% y/y, 0.3% & 6.14% y/y exp.June S&P CoreLogic Housing Price Index 5.42% y/y, 5.43% expectedAug Conference Board Consumer Confidence 103.3, 100.7 exp., prior 101.9 from 100.3; Present Situations 134.4, prior 133.1 from 133.6, Expectations  82.5, prior 81.1 from 78.2Aug Richmond Fed Mfg. Inddex -19, -14 expected, -17 priorAug Richmond Fed Business Conditions -13, -9 prior  @zerohedge: Dallas Fed respondent: “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. In fact, they’re going up. For example, a door that cost $3,000 a year or so ago is now pricing in at $10,000. There is less competition in the market. There are fewer local companies. Many have closed due to difficulty in maintaining a workforce and owners close to retirement. Others have sold out. There are still long lead times for items such as transformations and generators.”   ESUs traded moderately lower during early Nikkei trading.  After hitting a low of 5623.25 at 18:45 ET, ESUs commenced a plodding rally that took created a daily high of 5645.75 at 4:12 ET.  After double topping at 5:22 ET, ESUs headed south, finally creating a daily low of 5611.50 at 9:38 ET.   Conditioned traders bought the ‘gift’ lower NYSE opening.  Someone then forced ESUs to 5649.50 at 11:08 ET.  Nvidia was an influence.  It sank to a low of 123.88 (-2.63 points) at 9:45 ET.  Aggressive buying pushed NVDA to a daily high of 128.98 at 11:12 ET.   Old World traders decided it was time to exit; ESUs sank to 5626.75 at 11:33 ET.  A 14-handle Noon Ballon ended at 12:14 ET.  ESUs retreated to 5627.00 at 12:42 ET.  A spirited afternoon rally pushed ESUs to a new high of 5649.50 at 14:01 ET.  ESUs then did a slow over with a retreat to 5640.000 at 15:04 ET.  The last-hour rally fizzled; ESUs traded sideways in a tight range into the NYSE close.   USUs traded slightly positive and sideways from the Nikkei opening until they fell at 22:33 ET.  They then traded sideways until they broke down at 4:27 ET.  USUs hit a daily low of 123 20/32, -29/32, at 8:45 ET.  USUs rallied to   Mystery as dozens of KFC restaurants abruptly close across the Midwest Soaring food inflation and elevated running costs continue to hit businesses… Increased costs for food and labor are causing local small businesses to close, chains to shutter locations and are even forcing some companies into bankruptcy… https://www.dailymail.co.uk/yourmoney/store-closures/article-13784749/dozens-kfc-restaurants-close-midwest-job-losses.html   Positive aspects of previous session Nvidia and ESUs rallied after early declines.  Fangs/NVDA led the rally.   Negative aspects of previous session The DJTA sank and close -84.18 Bonds declined smartly in early US trading; gold hit another record high.   Ambiguous aspects of previous session Is a short-term top forming due to irrational exuberance over Nvidia’s results? First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5616.82 Previous session S&P 500 Index High/Low: 5631.18; 5593.48   @TrumpDailyPosts: “Zuckerberg admits that the White House pushed to SUPPRESS HUNTER BIDEN LAPTOP STORY (& much more!). IN OTHER WORDS, THE 2020 PRESIDENTIAL ELECTION WAS RIGGED… Donald Trump Truth Social 08:12 AM EST 08/27/24   @GrageDustin: Mark Zuckerberg was pressured by Joe Biden the government to censor COVID and the Hunter Biden’s laptop.  Trump lost by slim margins in major swing states in the last election and this played a major role.  Why is he finally admitting to it now?  The political winds are changing.   @JoshuaSteinman: Zuck has access to a real-time global human sentiment machine. If you think he’s coming clean about what Kamala & co have been doing just for the sake of doing the right thing, you aren’t paying attention. He knows what’s coming.   Greta Van Susteren (@greta): If I were chairman of @JudiciaryGO, I would subpoena Zuckerberg, put him under oath and ask him WHO pressure him and when (to censor Hunter & Covid stuff)?   @bennyjohnson: RFK Jr. discusses why he decided to endorse President Trump: “There’s been a bunch of political realignments throughout history, and I think we’re going through one right now with the Democrat Party.”  https://x.com/bennyjohnson/status/1828417092862857258   DJT posted that he and Team Obama-Harris have agreed to debate on ABC on September 10 under the same rules that were used for the CNN debate in June.  Muted mics when a candidate isn’t speaking; no notes; and candidates will stand.  Harris has NOT agreed to a 3rd debate. https://x.com/TrumpDailyPosts/status/1828502530323779858   Today – Nvidia is expected to report 0.65 EPS after the NYSE close.  Barring unexpected news, rumors, and hype about Nvidia’s results should impact trading.  The odds of a short-term high forming today or tomorrow on great NVDA results is high.  Plan accordingly!   NQUs are -67.75; ESUs are -9.50; USUs are +5/32, and the yen/$ is 144.10 at 20:30 ET.    S&P Index 50-day MA: 5495; 100-day MA: 5353; 150-day MA: 5260; 200-day MA: 5110 DJIA 50-day MA: 39,931; 100-day MA: 39,331; 150-day MA: 39,169; 200-day MA: 38,517 (Green is positive slope; Red is negative slope)   S&P 500 Index (5625.80 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 5484.15 triggers a sell signal Hourly: Trender is positive; MACD is negative – a close below 5596.87 triggers a sell signal   Kamala Harris ally: We have to ‘reimagine’ democracy beyond Founders’ ‘little piece of paper’ Human Rights Campaign president Kelley Robinson spoke at the Democratic National Convention https://t.co/lE5YpDdRWP   @KamalaHarris: Trump’s border wall is a stupid waste of money.  I will block any funding for it. 4/21/17 https://x.com/zerohedge/status/1828428957168877706/photo/1   @RNCResearch: “I’m not gonna vote for a [border] wall under any circumstances.” — Kamala Harris https://x.com/RNCResearch/status/1828428218338062542   @CortesSteve: Kamala Harris mocked the idea that America needs a wall to secure our border and stop terrorists: “To suggest that we have to build a wall across our southern border because there are terrorists who are trying to invade the country, it couldn’t be farther from the truth.” https://x.com/CortesSteve/status/1828406308476711244   Harris flip-flops on building the border wall If she’s elected president, Kamala Harris pledges to spend hundreds of millions of dollars on the wall along the southern border — a project she once opposed and called “un-American” during the Trump administration… It’s the latest example of Harris flip-flopping on her past liberal positions such as supporting Medicare for All and banning fracking — proposals that aides say she now is against… https://www.axios.com/2024/08/27/kamala-harris-flip-flops-border-wall   NB: Harris’ aides are walking back or altering her prior positions.  Kamala remains mum.   @TrumpWarRoom: Another walk-back by an anonymous aide. Here’s Kamala calling the border wall a “vanity project” because “by definition,” illegal immigration is “not an emergency.” https://t.co/9XK4xaKcNr   @ambermarieduke: The Harris campaign is now claiming that she doesn’t support an Electric Vehicle (EV) mandate.  When she was a senator, Harris cosponsored the Zero-Emissions Vehicle Act of 2019, which contained a requirement for car manufacturers to sell only zero-emission vehicles by 2040. https://x.com/ambermarieduke/status/1828486757727322342   If Harris were ahead in her campaign’s internal polls, she would NOT be changing positions.   Majority polled strongly oppose noncitizens voting, blame Harris for border crisis 87% support requiring voters to show a photo ID to vote. Only 9% oppose the photo ID requirement; 3% say they aren’t sure… 54% agreed that Harris “was given responsibility for handling the situation at the southern border.”  Nineteen percent said she wasn’t…  https://trib.al/CZqSwFs   Politico: Inside Harris’ big interview decision Harris campaign staff have been asking reporters who they think she should talk to (To get best deal?)… Her pick? Sit down with GAYLE KING on CBS. (Oprah’s BFF)…     What about Tim? One of the issues that Harris world is currently working to address is how to deploy running mate TIM WALZ in the media. The danger in sending him out to do big solo interviews is that he might not have a full command of where Harris is on every issue. As someone pointed out to us last night, Harris talks about the “opportunity economy,” but if Walz were asked to define it, would he know how?…  https://www.politico.com/newsletters/playbook/2024/08/27/inside-harris-big-interview-decision-00176402   Harris, Walz schedule first joint interview since winning Democratic nomination (With CNN anchor Dana Bash, Thursday 9 p.m. ET; Does Kamala have the ?s already?) https://trib.al/OSlzx6E   Greta Van Susteren @greta: I think it tends to make women look weak that VP brings someone else (her running mate) to her first interview …she should do this herself.   @caroljsroth: Kamala Harris bringing Walz to her first interview is like the young job candidates who bring their parents to their first interview.   @AriFleischer: Why is Walz there? Is Harris afraid to stand on her own two feet?  Does she need Walz to take half the questions so she talks less? After refusing to do any interviews and hiding for a month, Harris still won’t sit for a 1:1 interview. She is weak and not ready for the job.   @PollWatch2020: Still no Establishment Media polls since the DNC. (What does this tell us?)   @JamesOKeefeIII: Top ActBlue Donor in Colorado Questions $230K in Donations: ‘I’ve Been Retired So I don’t Have Steady Income’ Amid Fundraising Suspicions     “No, my money’s not being stolen. There’s nothing there to steal,” insists Sonia ImMasche, a retired Colorado resident, who has reportedly donated over $230,000 to ActBlue from 2017 to 2023… https://t.co/RflEV7uCAe   @TheBabylonBee: Attorney General Reminds Americans That Questioning The 2024 Election Is Illegal Unless Trump Wins https://t.co/uyB9ssDJdt   WSJ: Special Counsel Unveils New Trump Indictment in Jan. 6 Case Jack Smith sticks with same charges against former president, says new indictment conforms with Supreme Court’s immunity ruling   James Burnham, a former top Justice Department official in the Trump administration, said Smith’s team has gone against the spirit of the Supreme Court’s ruling and is daring the justices to rebuke them again. ‘I think they are going to beat their heads against the wall until the wall falls on top of them,’ he said. ‘Rather than try to really reshape the case in a way that complies with what the Supreme Court said, they tried to make basically cosmetic changes.’ https://www.wsj.com/us-news/law/jack-smith-trump-indictment-january-6-case-51793bb0   @BrookeLRollins: Let’s review: 1) Jack Smith indicts President Trump. 2) The Supreme Court says the indictment is unconstitutional. 3) Jack Smith re-files the indictment. 4) It’s the exact same indictment. We can stop pretending they care about rule of law now. They never did. And they never will.   @RWMaloneMD: More election interference and prosecutorial misconduct by Jack Smith and the DoJ. They are out of control.   @mirandadevine: By my rough calculation, President Joe Biden has been on vacation for 27 of the 36 days (75%) since he dropped out of the 2024 race on July 21.   Air Force 1 has whisked him and his family between Rehoboth Beach, Camp David and the Santa Barbara estate of billionaire donor Joe Kiani. Before that, he already had taken nine days vacation at Rehoboth and Wilmington, DE, after the June 27 debate.  Clearly, he’s checked out.     If the commander-in-chief can’t be bothered – or is incapable of – doing his job for the next five months, then he should resign.

GREG HUNTER

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