GOLD PRICE CLOSED UP $23,59 TO $2527.00 * ALL TIME HIGH CLOSING

SILVER PRICE UP $.37 TO $29.58

Gold ACCESS CLOSED $2504.05

Silver ACCESS CLOSED: $29.17

Friday is OTC/London LBMA options expiry which is much bigger than comex.

Bitcoin morning price:$59,633 UP 230 DOLLARS.

Bitcoin: afternoon price: $59,585 UP 182 DOLLARS

Platinum price closing  UP $10.50 TO $945.45

Palladium price; UP $36.30 TO $983.40

END

*CANADIAN GOLD: $3400.90 UP 29.39 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,915.02 UP 14.04 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,276.65 UP 22.19 Euros per oz //* (ALL TIME CLOSING HIGH: 2.276.65 EUROS PER OZ//AUGUST 29 //.2024)

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EXCHANGE: COMEX

JPMorgan stopped 0/76

EXCHANGE: COMEX
CONTRACT: AUGUST 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,501.000000000 USD
INTENT DATE: 08/28/2024 DELIVERY DATE: 08/30/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

132 C SG AMERICAS 39
624 H BOFA SECURITIES 76
737 C ADVANTAGE 35
905 C ADM 2

---

TOTAL: 76 76

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 76 NOTICES FOR 7600 OZ  or  0.2364 TONNES

total notices so far: 22,353 contracts for 2,235,300  Oz (69.527 tonnes)

FOR  AUGUST:

SILVER NOTICES: 5 NOTICE(S) FILED FOR 25,000

OZ/

total number of notices filed so far this month : 1035 for 5,175,000 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 $23.50 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 UP $0.37 AT THE SLV

SMALL CHANGES IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF .558 MILLION OZ OUT OF THE SLV/

//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 464.683 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A MEGA MEGA GIGANTIC SIZED 3998 CONTRACTS TO 137,615 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 WITH OUR STRONG  LOSS OF $0.76 IN SILVER PRICING AT THE COMEX ON WEDNESDAY’S TRADING. WE LOST CONSIDERABLE LONGS WITH THE LOSS IN PRICE. WE HAD A HUGE LOSS OF 3348 CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS AND MONTH END SPREADERS DURING WEDNESDAY’S TRADING//. WE HAD CONSIDERABLE COVERING BY OUR SPECS WITH THE HUGE LOSS IN PRICE.  WE HAD ANOTHER  STRONG 650 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 669 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE LOST 3348 CONTRACTS ON OUR TWO EXCHANGES WITH THE LOSS IN PRICE.

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN YESTERDAY. THE ACCUMULATED T.A.S. IS BEING USED TO MANIPULATE PRICES 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 WEDNESDAY NIGHT: 669 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 $0.76) AND WERE SUCCESSFUL IN KNOCKING A FEW SILVER LONGS FROM THEIR PERCH AS WE HAD A STRONG LOSS OF 3290 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 650 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 25,000 OZ QUEUE JUMP //NEW STANDING RISES TO 5.175 MILLION OZ

//NEW STANDING FOR SILVER//AUGUST IS THUS 5.175 MILLION OZ

WE HAD:

/ MEGA HUGE SIZED COMEX OI LOSS //HUGE SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 669 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 58 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 21 DAYS, total 19,523 contracts:   OR 97.615 MILLION OZ  (930 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; 97.615 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  3998 CONTRACTS WITH OUR HUGE LOSS IN PRICE OF SILVER PRICING AT THE COMEX//WEDNESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS: 650 ISSUED FOR SEPT AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS.  WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR AUGUST OF  3.005 MILLION  OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S 25,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR AUG  5.1750 MILLION OZ 

WE HAVE A MEGA HUGE LOSS OF 3348  OI CONTRACTS ON THE TWO EXCHANGES WITH THE HUGE LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 669 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE WEDNESDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE STRONG FALL IN PRICE YESTERDAY/ AND CONSIDERABLE LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE WEDNESDAY NIGHT   (669) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 5 NOTICE(S) FILED TODAY FOR 25,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A TINY SIZED 29 OI CONTRACTS  TO 521,788 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A MASSIVE 3159CONTRACTS//

WE HAD A TINY SIZED INCREASE  IN COMEX OI (29 CONTRACTS) OCCURRED DESPITE OUR LOSS OF $14.65  IN PRICE/WEDNESDAY. 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 HUGE 10,000 OZ QUEUE JUMP AS THESE GUYS NEEDED BADLY PHYSICAL GOLD ON THIS SIDE OF THE PLANET.

NEW STANDING RISES TO  69.602 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $14.65 LOSS IN PRICE  WITH RESPECT TO WEDNESDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF  2174 OI CONTRACTS (6.762 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 2145 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 521,788

IN ESSENCE WE HAVE A STRONG SIZED DECREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2174 CONTRACTS  WITH 29 CONTRACTS INCREASED AT THE COMEX// AND A FAIR SIZED 2145 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 5333 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALLISH 313 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (2145 CONTRACTS) ACCOMPANYING THE TINY SIZED INCREASE IN COMEX OI OF 29 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 2174 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 HUGE 10,000 OZ QUEUE JUMP AS THESE GUYS NEEDED PHYSICAL GOLD ON THIS SIDE OF THE PLANET.

//NEW STANDING ADVANCES 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) FAIR SIZED COMEX OPEN INTEREST GAIN 5)  FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S.  ISSUANCE: 313 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: 86,524 CONTRACTS OF 8,652,400 OZ OR 269.125 TONNES IN 21 TRADING DAY(S) AND THUS AVERAGING: 4120 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 21 TRADING DAY(S) IN  TONNES  269.13 TONNES

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

THUS EFP TRANSFERS REPRESENTS  269.13 DIVIDED BY 3550 x 100% TONNES = 7.58% 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: 269.13 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  3998 CONTRACTS OI  TO 137,615 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 650 CONTRACTS

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

SEPT 650  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 650 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 3998 CONTRACTS AND ADD TO THE 650 E.FP. ISSUED

WE OBTAIN A MEGA HUGE SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 3348 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES  TOTALS 16.740 MILLION OZ OCCURRED WITH OUR $0.76 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//

THURSDAY MORNING/WEDNESDAY  NIGHT

SHANGHAI CLOSED DOWN 14.32 PTS OR 0.50% //Hang Seng CLOSED UP 93.87 PTS OR 0.53% // Nikkei CLOSED DOWN 9.23 OR .02%//Australia’s all ordinaries CLOSED DOWN 0.33%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0929 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0896/ Oil UP TO 74.78 dollars per barrel for WTI and BRENT UP AT 78.85 Stocks in Europe OPENED ALL GREEN

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A TINY SIZED  29 CONTRACTS TO 521,788 DESPITE OUR LOSS IN PRICE OF $14.65 WITH RESPECT TO WEDNESDAY’S TRADING. WE LOST A HUGE NUMBER OF SPREADER/T.A.S. CONTRACTS AS SHORTS TRIED TO,  THROUGHOUT THE SESSION, COVER WHAT THEY COULD AT LOWER 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 WEDNESDAY’S  LOSS IN PRICE WITH ZERO LONGS WERE CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MAJOR SHORT COVERING. THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF THE SPREADERS AND T.A.S IS SURELY DISTORTING COMEX OPEN INTEREST.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS A FAIR SIZED 2145 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 2145 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 2145  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 2174 CONTRACTS IN THAT 2145 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A TINY GAIN OF 29 COMEX  CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED DESPITE OUR LOSS IN PRICE OF $14.65/WEDNESDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE. THE RAID YESTERDAY 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! THE RAID ACCOMPLISHED NOTHING BUT GRIEF TO OUR CENTRAL BANKER, THE FRBNY, AS OTHER CENTRAL BANKS TOOK THE FED’S LARGESS OF SUPPLY TO OBTAIN CONSIDERABLE PHYSICAL GOLD.

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 WEDNESDAY NIGHT A SMALL  SIZED 313 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 YESTERDAY’S RAID.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   AUGUST  (69.602 TONNES)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 44 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 69.602 TONNES//FINAL STANDING

THE SPECS/HFT WERE  SUCCESSFUL IN LOWERING GOLD’S PRICE( IT FELL BY  $14.65 //// BUT WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A FAIR GAIN IN OUR TWO EXCHANGES. WE HAD HUGE SPREADER LIQUIDATION. BUT CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL. WE HAD BOTH HUGE T.A.S. LIQUIDATION AND SPREADER LIQUIDATION WEDNESDAY AT THE COMEX.

WE HAVE GAINED A TOTAL OI OF 16.587 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR AUGUST (65.55 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 10,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO: 69.602 TONNES.

NEW STANDING FOR AUGUST: 69.602 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  LOSS IN PRICE  TO THE TUNE OF $14.65

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 GAIN ON THE TWO EXCHANGES 5333 CONTRACTS OR 533,300 OZ (16.587

TONNES)

confirmed volume WEDNESDAY 180,096 contracts poor

//speculators have left the gold arena

END

AUGUST 29      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	76 notice(s) 7600 OZ 0.2364 TONNES
No of oz to be served (notices)	24 contracts    2400 OZ 0.0745 TONNES
Total monthly oz gold served (contracts) so far this month	22,353 notices 2,235300 oz 69.527 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: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR AUGUST

For the front month of AUGUST we have an oi of 100 contracts having GAINED 15 contracts.

We had 85 contracts served on WEDNESDAY so we GAINED an additional 100 contracts or 10,000 oz will stand for gold at the comex as these guys needed physical gold on this side of the planet.

SEPT. LOST 199 CONTRACTS TO STAND AT 5,111 CONTRACTS.

OCTOBER GAINED 415 CONTRACTS UP TO 46,859 CONTRACTS

We had 76 contracts filed for today representing 7600  oz  

This is a major assault on the comex for gold and this time it is physical that will be requested.

Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notice issued from their client or customer account. The total of all issuance by all participants equate to 76 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 0 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 (22,353) x 100 oz ) to which we add the difference between the open interest for the front month of  August 100( CONTRACTS)  minus the number of notices served upon today  (76x 100 oz per contract( equals  2,237,700 OZ  OR 69.602 TONNES. Somebody was in great need of physical gold on THIS side of the pond today (NEW YORK)

thus the INITIAL standings for gold for the AUGUST contract month:  No of notices filed so far (22,353 x 100 oz +we add the difference for front month of AUGUST  (100 X// , OI} minus the number of notices served upon today (76) x 100 oz which equals  2,237,700 oz (69.602 TONNES) 

TOTAL COMEX GOLD STANDING FOR AUGUST: 69.602 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: 1,770,778.600 oz 55.078 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: 5,751,476 oz (REG GOLD- PLEDGED GOLD)= 178.89 tonnes //

END

SILVER/COMEX

AUGUST 29/2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	597,021.570 OZ DELAWARE .
Deposits to the Dealer Inventory	NIL
Deposits to the Customer Inventory	1,239,861.472 oz ASAHI Brinks
No of oz served today (contracts)	5 CONTRACT(S)    (25,000 OZ)
No of oz to be served (notices)	0 contracts  (0.000 million oz)
Total monthly oz silver served (contracts)	1035 Contracts  (5.175 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : NIL oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  2 customer deposits:

i) Into ASAHI 596,614.000 oz

ii) Into Brinks 643,247.472 oz

total customer deposit 1,239.861.472 oz

JPMorgan has a total silver weight: 135.336million oz/307.154 million  or 44.04%

adjustment:1

a) customer to dealer Delaware 597,021.570 oz

withdrawals: 1

iii) Out of Delaware 597,021.570 oz

total customer withdrawals: 597,021.570 oz

TOTAL REGISTERED SILVER: 76.516 MILLION OZ//.TOTAL REG + ELIGIBLE. 307.154 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:

silver open interest data:

FRONT MONTH OF AUGUST/2024 OI: 5 CONTRACTS HAVING LOST 73 CONTRACT(S). 

WE HAD 78 NOTICES SERVED ON WEDNESDAY, SO WE GAINED 5 CONTRACTs OR AN ADDITIONAL 25,000 OZ WILL STAND FOR SILVER AT THE COMEX.

SEPT SAW A LOSS OF 10,056 CONTRACTS TO 9596. SEPT NOW BECOMES THE NEW FRONT MONTH. WE HAVE 1 MORE READING DAY BEFORE FIRST DAY NOTICE I.E. FRIDAY’S READING ON FIRST DAY NOTICE

OCTOBER SAW ANOTHER GAIN OF OPEN INTEREST CONTRACTS OF 107 CONTRACTS AND THUS WE HAVE 1428 OPEN INTEREST CONTRACTS FOR OCTOBER.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 5 for 25,000 oz

CONFIRMED volume; ON THURSDAY 98,303 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 1035 x 5,000 oz = 5.1750 MILLION oz 

to which we add the difference between the open interest for the front month of AUGUST(5) and the number of notices served upon today 5 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST/2024 contract month:  1035 notices served so far) x 5000 oz + OI for the front month of AUGUST (5)x number of notices served upon today minus (5)x 5000 oz of silver standing for the AUGUST  contract month equates to 5.1750 MILLION OZ. 

 New total standing: 5.1750 million oz.

There are 76.516 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 29 WITH GOLD UP $23.50 ON THE DAY; NO CHANGES IN GOLD AT THE GLD:/ //////INVENTORY RESTS AT 856.12 TONNES

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 29//WITH SILVER UP $.37//SMALL CHANGES IN SILVER INVENTORY:A WITHDRAWAL OF 0.558 MILLION OZ OZ OUT OF THE SLV. .///./// /INVENTORY AT 464.693 MILLION OZ

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 464.693 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/MIKE MAHARRAY

Peter Schiff: Fed’s Pivot Is Misguided

Thursday, Aug 29, 2024 – 02:35 PM

Via SchiffGold.com,

In this episode, Peter analyzes the Fed’s conference in Jackson Hole and the pivot Jerome Powell signaled in figure monetary policy. He also dives into the hot political topics from this week, namely, the Democratic National Convention and RFK Jr.’s endorsement of Donald Trump for President.

Despite what Powell says, Peter is convinced there’s not sufficient evidence to support rate cuts in September:

“And during the speech, Powell said that now, finally, after all of these months, now I’m convinced that inflation is headed back down to 2%. But why? What data have we seen that has shown a significant improvement that you would think that inflation is headed back down to 2%? It’s 3% right now. … If you look at the actual CPI, 2.9% was the last one.”

The Fed’s dual mandate to fight both inflation and unemployment is proving problematic, since improving one often worsens the other:

“He [Powell] said that any additional weakness in the labor market is unwelcome. See, before he was saying we wanted some weakness in the labor market, because that’s how we were going to bring down inflation. But now, based on all of the weak data that we got on the labor market— especially that last non-farm payroll report— he’s saying, ‘No, we can’t have any more weakness in the labor market.’ So the Fed has really pivoted now from fighting inflation to fighting unemployment, which is on the rise.”

These problems are inevitable when you tamper with interest rates, which are fundamental to a healthy economy:

“The Fed gets the economy all juiced up on cheap money. They build the entire phony recovery on a foundation of artificially low interest rates, and as a result, everybody goes into debt. And now they think they can raise interest rates without having a collapse. That’s impossible. You can’t have a foundation built on debt and then raise interest rates and expect the foundation not to collapse.” 

Moving on to politics, Peter explains what stood out to him about this year’s DNC:

“I’ve watched a number of these over the years. Again, I’ve been to a couple of them— not as a delegate. I was there on a press pass. I’ve never been a delegate. But I’ve never seen a convention where they vilified the opposition and the opponent anywhere near to the degree that they vilified Trump. I thought that they would have backed off on that kind of characterization, given the fact that someone tried to kill him.” 

Many of the DNC’s criticisms of Trump are outright lies:

“They spend almost all their time lying about Trump. Most of the things— almost everything, actually— that they accuse Trump of doing or wanting to do, he’s not going to do. And they repeated all these lies where they take things out of context, like the ‘bloodbath’ or ‘bad people on both sides’ or whatever it is or all these quotes that have already been proven were either not said or were taken out of context and don’t even apply to the way they’re using them.” 

One silver lining from the week is RFK Jr.’s endorsement of Donald Trump for president. Constituting arguably the first true “unity campaign” in decades, the revitalized Trump ticket is a legitimate threat to the establishment, and hopefully it can take action to end wasteful wars around the world:

“At least Robert Kennedy and Donald Trump care about all these people who are dying, and they want to stop it. Now, secondarily, we’re wasting all this money so all these innocent people could die, and for what reason? Ukraine is in much worse shape now than it was two years ago. For what? For nothing. Again, there was more freedom in Russia than in Ukraine before the whole thing started. We were trying to preserve Ukrainian freedom; they’re less free now than they were before because of this war. … This has been a disaster. So at least you’ve got Kennedy and Trump that are thorns in the side of the political establishment, and that’s what we need. We need to break the stranglehold of the neocons.”

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

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

4. GOLD PODCASTS//LIVE FROM THE VAULT/

end

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

end

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/THURSDAY MORNING/WEDNESDAY  NIGHT

SHANGHAI CLOSED DOWN 14.32 PTS OR 0.50% //Hang Seng CLOSED UP 93.87 PTS OR 0.53% // Nikkei CLOSED DOWN 9.23 OR .02%//Australia’s all ordinaries CLOSED DOWN 0.33%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0929 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0896/ Oil UP TO 74.78 dollars per barrel for WTI and BRENT UP AT 78.85 Stocks in Europe OPENED ALL GREEN

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

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

ONSHORE YUAN:   CLOSED UP TO 7.0929

OFFSHORE YUAN: UP TO 7.0896

SHANGHAI CLOSED DOWN 14.32 PTS OR 0.50 %

HANG SENG CLOSED UP 93.87 PTS OR 0.53%

2. Nikkei closed DOWN 9.23 PTS OR .02%

3. Europe stocks   SO FAR:  ALL GREEN

USA dollar INDEX DOWN TO  101.12 EURO FALLS TO 1.1098 DOWN 26 BASIS PTS

3b Japan 10 YR bond yield: FALLS TO. +0.894 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 144.53…… 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 UP /JAPANESE Yen DOWN CHINESE ONSHORE YUAN: UP OFFSHORE: UP

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.2425/Italian 10 Yr bond yield DOWN to 3.631 SPAIN 10 YR BOND YIELD DOWN TO 3.072%

3i Greek 10 year bond yield DOWN TO 3.289

3j Gold at $2521.50//Silver at: 29.42  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 5/ 100  roubles/dollar; ROUBLE AT 90.55

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 144.53/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.894 % 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 0.8437 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9364 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: 3.838 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.119 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  3.863 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.03…

10 YR UK BOND YIELD: 4.031 UP 3 PTS

10 YR CANADA BOND YIELD: 3.097 DOWN 1 BASIS PTS

2a New York OPENING REPORT

Futures Rebound From NVDA Earnings Slide

Thursday, Aug 29, 2024 – 08:07 AM

Tech stocks recovered from the knee-jerk selling of Nvidia, which plunged as much as 8% after the company’s Q3 guidance disappointed some even as Q2 results met or beat analysts’ estimates on nearly every measure and showed that revenue more than doubled in the quarter, reinforcing the earnings power of artificial intelligence. As of 7:50am ET, Nasdaq 100 futures added 0.1% after sliding as much 1.4% earlier as Nvidia, which had tumbled sharply in trading after the close of US exchanges, trimmed losses to just down only 2% in pre-market trading. Intel Corp., Apple Inc. and Microsoft Corp. all posted small gains; S&P 500 futs rose 0.2%, fully reversing an earlier drop as Germany’s DAX Index hit a new record. Treasury 10-year yields and the dollar was steady. West Texas Intermediate crude rose to $75 after sliding back under $74 yesterday.  On the macro calendar, we have the second 2Q GDP estimate, July trade balance and wholesale inventories and initial jobless claims (8:30am) and July pending home sales (10am).

In premarket trading, Nvidia fell 3%, reversing a much bigger plunge, after the company failed to live up to investor hopes with its latest results, delivering an underwhelming forecast and news of production snags with its much-awaited Blackwell chips. Here are some other notable premarket movers:

• Affirm Holdings soars 21% after the financial technology company’s 1Q revenue forecast came in ahead of estimates.
• Best Buy rises 6% after the company raised its annual profit guidance in a sign that demand for electronics and appliances could start to improve.
• Birkenstock falls 13% after the sandal maker reported 3Q revenue that just missed the average analyst estimate. Some analysts said expectations were high heading into results, with shares up about a third since its $1.5 billion initial public offering.
• Dollar General falls 23% after the company cut its full-year sales forecast, a sign that the discounter’s turnaround efforts may not be fending off competition.
• Five Below rises 6% after the discount retailer reported 2Q comparable sales that declined less than analysts had anticipated. While the company lowered its annual comparable sales forecast, the reduced outlook was also better than Wall Street expected.
• ILearningEngines sinks 42% after Hindenburg Research said it is short the stock.
• Nutanix gains 17% after the company gave a full-year revenue forecast that came in stronger than expected.
• Okta drops 13% after some of the application software company’s outlook disappointed.
• Salesforce rises 5% after the maker of customer management software reported 2Q results that beat expectations.
• Topgolf Callaway Brands declines 3% after Jefferies downgraded the golf equipment company to hold, saying it was “increasingly uncertain” about the company’s prospects, in particular its debt levels.

As extensively discussed yesterday, Nvidia’s Q3 earnings report, the most anticipated part of the tech industry’s earnings season, beat analysts’ estimates on nearly every measure, but Nvidia spoiled investors have grown accustomed to blowout quarters, and the latest numbers didn’t qualify especially as regards guidance which came in below some of the more optimistic estimates. NVDA revenue more than doubled to $30 billion in the fiscal second quarter, and the company said third-quarter revenue will be about $32.5 billion; while analysts had predicted $31.9 billion on average, estimates ranged as high as $37.9 billion. Of concern to investors was the fact that Nvidia’s next big cash cow — the new Blackwell processor lineup — has proved more challenging to manufacture than anticipated. The product is the next generation of the company’s dominant artificial intelligence processor.

“Fundamentally, market participants are reflecting on those Nvidia results and saying: they were actually pretty good,” said Michael Brown, a senior strategist at Pepperstone Group Ltd. “The bar for a beat was impossibly high, so the results don’t derail the bull case for the chipmakers or the equity market more broadly.”

In any case, with Q2 earnings season officially at an end, focus is turning back to the macro landscape. Money markets are wagering on 100 basis points worth of rate cuts by year-end but uncertainty remains as to whether the Federal Reserve will ease policy by a quarter-point next month or deliver a larger 50 basis-point cut. Atlanta Fed President Raphael Bostic said it “may be time to cut,” but he’s still looking for additional data to support lowering rates next month. Key to that will be a reading of the Fed’s preferred inflation gauge, the core PCE, due Friday.

“What investors are looking for now is further confirmation that if economic momentum is weakening, the Federal Reserve are going to ride to the rescue and provide a series of substantial cuts,” said Brian O’Reilly, head of market strategy at Mediolanum International Funds.

European stocks gain as traders added to their ECB interest-rate cut bets after soft inflation data from Spain and Germany which reinforced expectations for a European Central Bank rate cut in September. The Stoxx 600 rises 0.8% to the highest since mid July while Germany’s DAX gained as much as 0.7%, reaching 18,912.47 points and topping its previous peak of May 15. Here are some of the biggest movers on Thursday:

• Pernod Ricard shares extend gains to as much as 9.7%, the biggest advance in almost 16 years, after China said it won’t take any anti-dumping measures over EU brandy for the time being. The stock extended gains that were initially fueled by relief over the French distiller’s in line results. Peers Diageo, Remy Cointreau and Campari also jump.
• Delivery Hero shares rise as much as 9% in early trading, to their highest intraday value two months, after the German online food service’s second quarter results showed strength in the Middle East and North Africa region and as the firm said it was planning a Dubai initial public offering of its Talabat operations.
• Universal Music shares rise as much as 4.2% after BNP Paribas Exane raised its recommendation on the music company to outperform from neutral. The broker says streaming expectations are now “materially reset” which offers an “attractive entry point.”
• Schott Pharma shares jump as much as 12%, the most on record, after the German healthcare supplier increased its revenue forecast for the year following strong third-quarter results.
• Close Brothers jumps as much as 11%, the most since March, after RBC upgraded its recommendation on the UK financial services group to outperform from sector perform. The broker says the firm’s shares are cheap historically as well as compared to sector peers.
• DEME Group shares rise as much as 6.2% after the marine engineering provider reported turnover for the half-year that beat estimates. KBC upgraded its its recommendation on the stock, citing a higher sales growth outlook.
• Corbion shares rise as much as 5.3% after the Dutch ingredients firm is upgraded to overweight at Barclays, which sees improving growth prospects and reduced balance-sheet risk prompting a rerating.
• Teleperformance falls as much as 6.2%, after the French digital business services company’s CEO told French paper Les Echos the company is considering listing its stock in the US, frustrated by its stock performance in Paris.
• CD Projekt drops as much as 4.4% after the video game maker’s revenues development disappointed analysts. Ipopema appreciated the update to the Polish game developer’s key asset Project Polaris, a codename for the new The Witcher game, and hopes to see a game trailer by the end of 2024.
• IG Group shares fall as much as 2.6% in London after holders Tom Sosnoff and Scott Sheridan sold 6.5m shares in an offering to a limited number of institutional investors.

Earlier in the session, Asian stocks fell as tech shares declined in the wake of Nvidia Corp.’s disappointing forecast, while Chinese shares were mixed amid earnings misses. The MSCI Asia Pacific Index dropped as much as 0.6% before paring, with TSMC, Samsung Electronics and SK Hynix among the biggest drags. Asian chip shares declined as Nvidia’s less-than-outstanding outlook cooled investor sentiment on the artificial intelligence trade. Benchmarks in Taiwan and South Korea led declines in the region. “Nvidia had a good result yet share price was down on the back of big expectations for next year,” said Jun Bei Liu, a portfolio manager at Sydney-based Tribeca Investment Partners. The cooling-off in the shares after their strong performance this year “provides buying opportunities as long-term structural growth remains intact.”

In FX, the Bloomberg Dollar Spot Index slips 0.1% drop ahead of US GDP data and weekly jobless claims data; risk-sensitive currencies including the New Zealand and Australian dollars lead gains. the euro underperforms its G-10 rivals, falling 0.2% against the greenback after softer than expected inflation prints out of Germany and Spain. EUR/USD drops as much as 0.4% to 1.1072, lowest since Aug. 20 and set for its worst two-day run in more than two months. One-week risk reversals now at 12 basis points, versus Wednesday’s high at 58 basis points. The kiwi dollar is the best performer, rising 0.6% after New Zealand business confidence hit a 10-year high. The offshore yuan climbs 0.6%.

Treasuries are marginally richer across the curve following another narrow overnight trading range, keeping most yields within 1bp of Wednesday’s closing levels. US 10-year trades around 3.83% with bunds in the sector outperforming slightly while gilts keep pace. Most of the price action occurred during European morning as the German curve bull-steepened Core European rates outperform led by German front-end, where 2-year yields are lower by around 4bp on the day following domestic inflation data; German 10-year yields falling 2bps to 2.24%. This week’s Treasury coupon auction cycle concludes with $44b 7-year note sale at 1pm, following good demand for 2- and 5-year notes. WI 7-year yield near 3.73% is ~43bp richer than last month’s result and, like the earlier sales, lower than results over the past year at least

In commodities, oil prices declined, with WTI rising 1% to $75 a barrel. Spot gold rises $16 to around $2,520/oz.

Looking at today’s US data calendar, we have the second 2Q GDP estimate, July trade balance and wholesale inventories and initial jobless claims (8:30am) and July pending home sales (10am). Fed speaker slate includes Bostic at 3:30pm.

Market Snapshot

• S&P 500 futures little changed at 5,609.00
• STOXX Europe 600 up 0.5% to 522.95
• MXAP down 0.2% to 185.56
• MXAPJ down 0.3% to 573.39
• Nikkei little changed at 38,362.53
• Topix little changed at 2,693.02
• Hang Seng Index up 0.5% to 17,786.32
• Shanghai Composite down 0.5% to 2,823.11
• Sensex little changed at 81,714.16
• Australia S&P/ASX 200 down 0.3% to 8,045.13
• Kospi down 1.0% to 2,662.28
• German 10Y yield down 3.3 bps at 2.23%
• Euro down 0.3% to $1.1084
• Brent Futures down 0.5% to $78.23/bbl
• Gold spot up 0.5% to $2,517.04
• US Dollar Index up 0.18% to 101.28

Top Overnight News

• AAPL has started mass producing the new iPhone lineup in India, including the Pro model, just days after commencing the process in China. Nikkei
• China growth doubts grow as local government debt issuance falls behind schedule amid a clamp down on inefficient infrastructure investment. China’s sluggish economic performance is creating a problem for the world as the company floods the globe with goods its companies can’t sell domestically. RTRS / WSJ
• China aims to clamp down on the recent iron ore rally, saying it doesn’t have any fundamental basis. BBG
• China accuses European brandy makers of dumping, but declines to impose tariffs (for now) in a step that should help cool trade tensions between Brussels and Beijing. BBG
• Spanish inflation eased to its lowest level in a year — a retreat that’s likely to be mirrored across the euro zone, allowing the European Central Bank to continue lowering interest rates. Consumer prices advanced 2.4% from a year ago, according to data published Thursday by the national statistics agency. That’s less than the 2.5% median estimate in a Bloomberg survey of economists. BBG
• The Fed’s Raphael Bostic said it “may be time” to cut interest rates but he’s still looking for additional data to support a move next month. “I don’t want us to be in a situation where we cut and then we have to raise rates again,” he said. BBG
• Kamala Harris leads Donald Trump by one point in Arizona and by two points in Georgia and Nevada, according to a Fox News poll. Trump is ahead by one point in North Carolina. The margin of sampling error for each state is 3 ppts. Tonight, Harris and Tim Walz will have their first campaign interview, with CNN. BBG
• GOOGL is relaunching its Gemini AI tool used to create images of people after pulling it from the market in Feb following criticism. CNBC

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mostly with modest losses following the weak lead from Wall Street and in the aftermath of NVIDIA’s ill-received earnings. The tech sector was among the laggards in the region with Samsung Electronics (005930 KS), Tokyo Electron (8035 JT), and TSMC (2330 TT) all opening lower by 2-3%. ASX 200 was subdued amid the broader market mood and with Australia’s earnings season picking up in pace. Materials, energy and Tech resided as some of the lagging sectors. Nikkei 225 briefly dipped under USD 38k in early trade, with Japanese activity also affected by the approaching Typhoon Shanshan, although the index eventually eked mild gains amid gains in Industrial names. Hang Seng and Shanghai Comp both conformed to the APAC mood and later extended their losses, whilst earnings season in Hong Kong saw Meituan jump almost 10% while Li Autos slid 10.6%.

Top Asian News

• PBoC injected CNY 150.9bln via 7-day Reverse Repo at a maintained rate of 1.70%.
• South Korean President Yoon said the government will introduce an automatic stabilization tool for the long-term sustainability of pension fund and is to raise the basic monthly pension by KRW 400k within his term, according to Reuters.
• PBoC will step up counter-cyclical adjustments; will strengthen financial support to the real economy

European bourses, Stoxx 600 (+0.5%) began the session with a modest upward bias. As the session progressed, indices continued to edge higher, but most notably in the Euro Stoxx 50 (+0.9%) and AEX (+0.9%), with Tech leading, despite NVIDIA (-2.8% pre-market) slipping post-earnings (albeit. metrics were strong). European sectors hold a strong positive bias. Tech is the clear outperformer, propped up by gains in the ASM International (+2.4%) and ASML (+2%), benefiting from strong NVIDIA results, despite the Co. itself being down by around 2.8% in the pre-market. Alcohol names shot higher following an announcement that China’s Commerce Ministry will not impose provisional anti-dumping subsidy on brandy imported from the EU; Pernod Ricard (+4.5%) / Remy Cointreau (+7.6%). US Equity Futures (ES +0.1%, NQ +0.1% RTY +0.6%) are flat/mixed, with very slight outperformance in the RTY, whilst the NQ fails to find a firm direction, following NVIDIA’s results on Wednesday.

Top European News

• Riksbank’s Bunge foresees two or three further rate cuts this year, monetary policy should still be characterised by a gradual adjustment.
• China’s Commerce Ministry says it will not impose provisional anti-dumping subsidy on brandy imported from the EU.

FX

• DXY is extending the upside seen on Wednesday’s session after basing out at 100.51 on Tuesday. DXY has printed a 101.36 peak with the pre-Powell high at 101.55 coming into view.
• EUR/USD is pressured and back on a 1.10 handle after regional German CPI metrics came in softer than suggested by expectations for the mainland data. German CPI due at 13:00BST ahead of the EZ-wide data on Friday.
• GBP is flat vs. the USD with UK-specific updates once again on the light side. Cable has returned to a 1.31 handle after printing a fresh YTD peak earlier in the week at 1.3266.
• USD/JPY is flat in quiet newsflow and opting to consolidate on a 144.00 handle and within yesterday’s 143.69-145.04 range.
• NZD is the best performer across the majors after ANZ data showed NZ business confidence soaring. AUD is also firmer vs. the USD but to a lesser extent due to pressure in the AUD/NZD cross, though AUD/USD is within reach of the YTD peak.
• PBoC set USD/CNY mid-point at 7.1299 vs exp. 7.1297 (prev. 7.1216)

Commodities

• Crude is slightly softer, but with specifics light and the complex essentially in a holding pattern until there is an update to the geopolitical and/or Libya front. Brent’Oct currently near session lows at around USD 78.30/bbl, weighed on by EUR-driven USD strength.
• Spot gold is firmer and relatively unreactive to the referenced uptick in the USD as pressure in yields globally are serving as a countering impulse for the yellow metal. At the top-end of a relatively wide USD 2503-2521/oz band.
• Base metals are broadly on the backfoot, largely in continuation of the broader negative sentiment seen in APAC trade overnight.
• South32 (S32 AT) expects to see improvement in aluminium prices on USD weakness and China buying, according to Reuters.
• Russian gov’t has announced that fuel and oil production numbers are to be a state secret, via KyivPost.

US Event Calendar

• 08:30: Aug. Initial Jobless Claims, est. 232,000, prior 232,000
  • Aug. Continuing Claims, est. 1.87m, prior 1.86m
• 08:30: 2Q GDP Annualized QoQ, est. 2.8%, prior 2.8%
  • 2Q Personal Consumption, est. 2.2%, prior 2.3%
  • 2Q Core PCE Price Index QoQ, est. 2.9%, prior 2.9%
  • 2Q GDP Price Index, est. 2.3%, prior 2.3%
• 08:30: July Advance Goods Trade Balance, est. -$97.8b, prior -$96.8b, revised -$96.6b
• 08:30: July Retail Inventories MoM, est. 0.5%, prior 0.7%
  • July Wholesale Inventories MoM, est. 0.3%, prior 0.2%
• 10:00: July Pending Home Sales (MoM), est. 0.2%, prior 4.8%
  • July Pending Home Sales YoY, est. -2.0%, prior -7.8%

DB’s Jim Reid concludes the overnight wrap

As we go to press this morning, the main market focus is on Nvidia’s latest results, which came out after the US close last night. Although the results slightly beat expectations, their share price was down around -7% in after-hours trading, partly because it fell short of some estimates that had been looking for an even stronger release. For instance, the revenue outperformance was the smallest relative to expectations in six quarters, so this wasn’t the sort of massive beat that Nvidia has often reported over the last 18 months. At the same time, the Q3 revenue guidance came in a touch above the average estimate ($32.5bn vs $31.9bn est.) but still well within the range of analysts’ views. So there’s been a pullback overnight, and that decline in after-hours trading has built on the -2.10% decline in yesterday’s session. In turn, US equity futures are lower more broadly this morning, with those on the S&P 500 (-0.33%) and the NASDAQ 100 (-0.64%) both falling back.

That more negative tone has also been evident overnight, with many of the major indices losing ground in Asia. That includes losses for the KOSPI (-0.81%), the Hang Seng (-0.65%) and the Shanghai Comp (-0.45%), alongside smaller declines for the CSI 300 (-0.07%) and the Nikkei (-0.06%).

Ahead of Nvidia’s release, US markets had already lost ground yesterday, with the S&P 500 filling -0.60%, though it did partially recover from a -1.1% fall intra-day. The decline came primarily because of losses among tech stocks, with the Magnificent 7 (-1.19%) falling back for a third consecutive day, whilst the NASDAQ also fell -1.12% to a two-week low. Sentiment around tech wasn’t helped by a -19.02% drop for Super Micro Computer, which saw the largest decline in the S&P 500 yesterday after they said they’d delay filing their annual financial disclosures. And the pick up in volatility ahead of Nvidia’s results also saw the VIX index rise +1.68pts to 17.11, its largest daily increase since the market turmoil on August 5.

To be fair, there were some relatively brighter spots, with more than 40% of the S&P 500 constituents higher on the day, while the Dow Jones (-0.39%) saw a more modest decline, having initially been on track to close at a new all-time high. It was a strong day for banks as well, with those in the S&P 500 up +0.70%. And in other news, Berkshire Hathaway (+0.86%) became the first US company that’s not in the tech sector to achieve a $1 trillion market capitalisation.

Whilst equities were losing ground, US Treasuries put in a pretty subdued performance, with the main theme being an ongoing curve steepening. While there was little data or commentary from Fed officials, the 2yr yield still fell by -3.4bps to 3.87%, its lowest closing level since May 2023. By contrast, the 10yr yield was up +1.3bps to 3.84% and the 2s10s slope ended the session at -3.4bps, only a basis point from its 2-year high on August 7. Meanwhile, we got more indication that the prospect of rate cuts was filtering through to the real economy. Specifically, data from the Mortgage Bankers Association showed that the contract rate on a 30yr mortgage was down to 6.44%, the lowest since April 2023. Bear in mind that investors are still pricing in rapid rate cuts over the months ahead, with over 100bps priced in by the December meeting. This pricing was little changed despite somewhat hawkish comments from Atlanta Fed’s Bostic later on, who said that it “may be time” to cut but that he still wanted to see additional data to support a September cut.

Today, we should start to get some more data that will help to shape investors’ views. In particular, there’s the weekly initial jobless claims out of the US, which will offer a timely indicator on the state of the labour market. We’ll also get the second estimate of Q2 GDP, and although that’s a backward-looking reading, that will include the latest revisions to core PCE inflation in Q2. Any revisions to that would add to the uncertainty when it comes to tomorrow’s core PCE print for July, so that could have implications for the 25bps vs 50bps debate depending how that looks. As of this morning, futures are placing a 35% probability on a 50bp rate cut in September, so the view remains that 25 is more likely. But it’s far from a done deal, and we’ve still got both the jobs report and CPI release for August before that meeting, so plenty of time for that to shift around still.

Over in Europe, markets put in a more robust performance, with the STOXX 600 (+0.33%) closing in on its all-time high, ending the day just -0.78% beneath its record from May. Germany’s DAX (+0.54%) was even closer to its own record, with yesterday’s advance leaving it just -0.46% beneath its peak. That optimism was also echoed among sovereign bonds, with yields on 10yr bunds (-3.0bps), OATs (-2.8bps) and BTPs (-2.1bps) all moving lower.

Europe will stay in focus today, as we’ll start to get the flash HICP prints for August, including Germany and Spain today, ahead of the Euro Area release tomorrow. Those will be important for the ECB, as even though a September cut is widely expected, markets have been pricing around a 50% chance of a second cut at the subsequent meeting in October. So the release could influence whether they cut at a quarterly pace (having already delivered an initial cut in June), or whether they speed that up and start cutting every meeting. In a mini series of notes this week, our European economists examine the factors that will determine both how far (see here) and how fast (see here) the ECB is likely to cut. When it comes to upcoming inflation data, our economists expect the Euro Area headline to slow to +2.2% in August, which would be the weakest since July 2021, with core HICP also coming down to +2.8%.

There was very little other data yesterday, although the Euro Area M3 money supply grew by +2.3% year-on-year in July (vs. +2.7% expected). Otherwise, French consumer confidence ticked up to 92 in August as expected, which is its highest level since February 2022.

To the day ahead now, and data releases include the German and Spanish CPI prints for August. In the US, we’ll also get the second estimate of Q2 GDP, the weekly initial jobless claims, and pending home sales for July. From central banks, we’ll hear from the ECB’s Lane and Nagel, as well as the Fed’s Bostic.

2B) European report

NVDA -1.8% pre-market, USD gains & EUR hampered by German State CPIs – Newsquawk US Market Open

Thursday, Aug 29, 2024 – 06:08 AM

• European bourses edge higher with Tech leading; US futures are slightly higher, NVDA -1.5% pre-market vs -4.9% after-hours
• Dollar is firmer, Antipodeans outperform given the risk-tone whilst EUR is hampered post-German State CPIs
• Bonds have been lifted after the cool German State CPIs vs mainland expectations
• Crude is lower and near session lows, XAU gains whilst base metals are broadly lower
• Looking ahead, US PCE (Q2), GDP (Q2), IJC, Fed’s Bostic, Supply from the US, and Earnings from Lulelemon, Dollar General, Best Buy, Marvell

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.5%) began the session with a modest upward bias. As the session progressed, indices continued to edge higher, but most notably in the Euro Stoxx 50 (+0.9%) and AEX (+0.9%), with Tech leading, despite NVIDIA (-2.8% pre-market) slipping post-earnings (albeit. metrics were strong).
• European sectors hold a strong positive bias. Tech is the clear outperformer, propped up by gains in the ASM International (+2.4%) and ASML (+2%), benefiting from strong NVIDIA results, despite the Co. itself being down by around 2.8% in the pre-market.
• Alcohol names shot higher following an announcement that China’s Commerce Ministry will not impose provisional anti-dumping subsidy on brandy imported from the EU; Pernod Ricard (+4.5%) / Remy Cointreau (+7.6%).
• US Equity Futures (ES +0.1%, NQ +0.1% RTY +0.6%) are flat/mixed, with very slight outperformance in the RTY, whilst the NQ fails to find a firm direction, following NVIDIA’s results on Wednesday.
• NVIDIA Corp (NVDA) Q2 2025 (USD): Adj. EPS 0.68 (exp. 0.64), Revenue 30.04bln (exp. 28.68bln); approved an additional USD 50bln in share buyback and maintained quarterly dividend at 0.01/shr. Some analysts cited expected increases in shipments of the current Hopper gen of chips over the next couple of quarters, while others remain unimpressed by the company’s expected growth rate, which is cooling from lofty levels; some noted that the growth projections did not exceed the most optimistic views of the street, while others noted that its margins were up Y/Y, but cooled vs Q1.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY is extending the upside seen on Wednesday’s session after basing out at 100.51 on Tuesday. DXY has printed a 101.36 peak with the pre-Powell high at 101.55 coming into view.
• EUR/USD is pressured and back on a 1.10 handle after regional German CPI metrics came in softer than suggested by expectations for the mainland data. German CPI due at 13:00BST ahead of the EZ-wide data on Friday.
• GBP is flat vs. the USD with UK-specific updates once again on the light side. Cable has returned to a 1.31 handle after printing a fresh YTD peak earlier in the week at 1.3266.
• USD/JPY is flat in quiet newsflow and opting to consolidate on a 144.00 handle and within yesterday’s 143.69-145.04 range.
• NZD is the best performer across the majors after ANZ data showed NZ business confidence soaring. AUD is also firmer vs. the USD but to a lesser extent due to pressure in the AUD/NZD cross, though AUD/USD is within reach of the YTD peak.
• PBoC set USD/CNY mid-point at 7.1299 vs exp. 7.1297 (prev. 7.1216)
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• Bunds was initially subdued going into the German State CPI; thereafter, a marked rally was seen following the particularly cool release. Metrics which skew the mainland expectations to the downside and have resulted in a few additional bps of easing being priced for the ECB by end-2024. The data caused Bunds to pare downside of c. 15 ticks, climb back above the 134.00 mark.
• USTs are benefitting from the EGB move but to a much lesser extent as the region awaits Friday’s key monthly PCE metrics (Q2 figures, 2nd GDP read and 7yr supply due today). USTs at the top-end of 114-00+ to 114-07 parameters and just shy of Wednesday’s 114-09 best.
• Gilts rallied in tandem with EGBs, no UK specific drivers thus far with commentary continuing to focus on/look ahead to the October fiscal statement. Gilts incrementally topped 99.00, but have since fallen below that level.
• Italy sells EUR 7.75bln vs exp. EUR 6.75-7.75bln 3.00% 2029, 3.85% 2035 BTP & EUR 1.5bln vs exp. 1-1.5bln 2032 CCTeu.
• Click for a detailed summary

COMMODITIES

• Crude is slightly softer, but with specifics light and the complex essentially in a holding pattern until there is an update to the geopolitical and/or Libya front. Brent’Oct currently near session lows at around USD 78.30/bbl, weighed on by EUR-driven USD strength.
• Spot gold is firmer and relatively unreactive to the referenced uptick in the USD as pressure in yields globally are serving as a countering impulse for the yellow metal. At the top-end of a relatively wide USD 2503-2521/oz band.
• Base metals are broadly on the backfoot, largely in continuation of the broader negative sentiment seen in APAC trade overnight.
• South32 (S32 AT) expects to see improvement in aluminium prices on USD weakness and China buying, according to Reuters.
• Russian gov’t has announced that fuel and oil production numbers are to be a state secret, via KyivPost.
• Click for a detailed summary

NOTABLE DATA RECAP

• German Bavaria State CPI MM (Aug) -0.1% (Prev. 0.3%); CPI YY (Aug) 2.1% (Prev. 2.5%); the regional metrics were generally cooler than prior/mainland implied set of data, pressuring EUR & rallying EGBs. Mainland figures due at 13:00 BST / 08:00 EDT.
• German North Rhine-Westphalia State CPI YY (Aug) 1.7% (Prev. 2.3%); Core 2.5% (prev. 2.8%); MM (Aug) -0.1% (Prev. 0.3%)
• EU Business Climate (Aug) -0.62 (Prev. -0.61); Cons Infl Expec (Aug) 11.3 (Prev. 11.2); Selling Price Expec (Aug) 6.1 (Prev. 6.8); Services Sentiment (Aug) 6.3 vs. Exp. 5.2 (Prev. 4.8); Economic Sentiment (Aug) 96.6 vs. Exp. 95.8 (Prev. 95.8); Industrial Sentiment (Aug) -9.7 vs. Exp. -10.6 (Prev. -10.5); Consumer Confid. Final (Aug) -13.5 vs. Exp. -13.4 (Prev. -13.4)
• Spanish CPI YY Flash NSA (Aug) 2.2% vs. Exp. 2.40% (Prev. 2.80%); Core 2.7% vs Exp. 2.6% (prev. 2.8%)
• Swedish GDP Final QQ (Q2) -0.3% vs. Exp. -0.8% (Prev. -0.8%); GDP Final YY (Q2) 0.5% vs Exp. 0.0% (prev. 0.0%)
• Swedish Overall Sentiment (Aug) 94.7 (Prev. 95.0)

NOTABLE EUROPEAN HEADLINES

• Riksbank’s Bunge foresees two or three further rate cuts this year, monetary policy should still be characterised by a gradual adjustment.
• China’s Commerce Ministry says it will not impose provisional anti-dumping subsidy on brandy imported from the EU.

NOTABLE US HEADLINES

• NVIDIA Corp (NVDA) Q2 2025 (USD): Adj. EPS 0.68 (exp. 0.64), Revenue 30.04bln (exp. 28.68bln); approved an additional USD 50bln in share buyback and maintained quarterly dividend at 0.01/shr. Revenue Breakdown: Data centre 26.3bln (exp. 25.08bln). Professional Visualization 454mln (exp. 451.1mln). Automotive 346mln (exp. 347.9mln). Gaming 2.9bln (exp. 2.79bln). Full earnings available here. EARNINGS CALL: Q2 gross margins negatively impacted by inventory provisions for low-yielding Blackwell material and may continue to be impacted in future. Notable commentary available here. Shares fell 6.9% after-hours; desks suggest disappointment amid a lack of a “mega-beat”.
• Salesforce Inc (CRM) Q2 2024 (USD): Adj. EPS 2.56 (exp. 2.36), Revenue 9.33bln (exp. 9.23bln); President and CFO Amy Weaver to step down. Shares rose 4.1% after-market.
• Apple (AAPL) reportedly orders over 10% more of its first AI-equipped iPhones vs last year, according to Nikkei sources; told suppliers to prepare for 88-90mln iPhones (vs initial order for ~80mln iPhones).
• Fed’s Bostic (2024 voter) said there is still a distance to go on inflation, while the labour market is quite strong by historical standards, according to Reuters. He repeated that he is still awaiting data to be sure it’s time to cut rates. He noted inflation has come down faster than expected, unemployment has risen further than he thought. He noted the Fed can not wait till inflation is at 2% to move away from a restrictive stance – “This means we should pull forward rate cut to 3rd quarter”. He warned it would not be good to cut rates only to have to raise them again.
• Alphabet’s (GOOG) Google is reportedly considering constructing a hyperscale data centre within southern, Vietnam, via Reuters citing sources.
• US official anticipates holding another round of talks on AI with China at some point.

GEOPOLITICS

• No notable geopolitical updates.

CRYPTO

• Bitcoin is slightly firmer and rests above USD 59k, whilst Ethereum climbs above USD 2.5k.

APAC TRADE

• APAC stocks traded mostly with modest losses following the weak lead from Wall Street and in the aftermath of NVIDIA’s ill-received earnings. The tech sector was among the laggards in the region with Samsung Electronics (005930 KS), Tokyo Electron (8035 JT), and TSMC (2330 TT) all opening lower by 2-3%.
• ASX 200 was subdued amid the broader market mood and with Australia’s earnings season picking up in pace. Materials, Energy and Tech resided as some of the lagging sectors.
• Nikkei 225 briefly dipped under USD 38k in early trade, with Japanese activity also affected by the approaching Typhoon Shanshan, although the index eventually eked mild gains amid gains in Industrial names.
• Hang Seng and Shanghai Comp both conformed to the APAC mood and later extended their losses, whilst earnings season in Hong Kong saw Meituan jump almost 10% while Li Autos slid 10.6%.

NOTABLE ASIA-PAC HEADLINES

• PBoC injected CNY 150.9bln via 7-day Reverse Repo at a maintained rate of 1.70%.
• South Korean President Yoon said the government will introduce an automatic stabilization tool for the long-term sustainability of pension fund and is to raise the basic monthly pension by KRW 400k within his term, according to Reuters.
• PBoC will step up counter-cyclical adjustments; will strengthen financial support to the real economy

DATA RECAP

• New Zealand ANZ Business Outlook (Aug) 50.6% (Prev. 27.1%)
• New Zealand ANZ Own Activity (Aug) 37.1% (Prev. 16.3%)
• Australian Capital Expenditure (Q2) -2.2% vs. Exp. 1.0% (Prev. 1.0%)
• Australian Plant/Machinery Capex (Q2) -0.5% (Prev. 3.3%)
• Australian Building Capex (Q2) -3.8% (Prev. -0.9%)

2C) ASIAN REPORT

NVDA -6.9% after-market, European futures indicate a softer open – Newsquawk Europe Market Open

Thursday, Aug 29, 2024 – 01:29 AM

• APAC stocks traded with modest losses across the board following the weak lead from Wall Street and in the aftermath of NVIDIA’s ill-received earnings.
• NVIDIA settled -6.9 % after-market despite solid earnings and a USD 50bln share buyback, some suggested disappointment as metrics fell short of the highest forecasts.
• NZD was boosted after ANZ Business Outlook soared whilst JGB futures saw upticks on a well-received 2-year JGB auction.
• European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.2% after cash closed higher by 0.3% on Wednesday.
• Looking ahead, highlights include Spanish CPI, German CPI, EZ Sentiment, US PCE (Q2), GDP (Q2), IJC, ECB’s Rehn, Lane; Fed’s Bostic, Supply from Italy, US, and Earnings from Lulelemon, Dollar General, Best Buy, Marvell

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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US TRADE

EQUITIES

• US stocks closed lower but off worst levels, with the weakness into the close led by the Nasdaq and semiconductor names ahead of Nvidia (NVDA) earnings.
• After the close, as NVIDIA earnings were released, ES and NQ futures saw initial two-way action before moving lower as NVIDIA shares swung between gains and losses before eventually slipping deeper into the red (-10% at worst vs +2% at best), despite overall solid metrics and an additional USD 50bln buyback. NVIDIA settled -6.9% after-market, some suggested disappointment as earnings and guidance fell short of the highest forecasts to justify valuations.
• SPX -0.60% at 5,592, NDX -1.18% at 19,350, DJIA -0.39% at 41,091, RUT -0.57% at 2,190.
• Click here for a detailed summary.

US EARNINGS

• NVIDIA Corp (NVDA) Q2 2025 (USD): Adj. EPS 0.68 (exp. 0.64), Revenue 30.04bln (exp. 28.68bln); approved an additional USD 50bln in share buyback and maintained quarterly dividend at 0.01/shr. Revenue Breakdown: Data centre 26.3bln (exp. 25.08bln). Professional Visualization 454mln (exp. 451.1mln). Automotive 346mln (exp. 347.9mln). Gaming 2.9bln (exp. 2.79bln). Full earnings available here. EARNINGS CALL: Q2 gross margins negatively impacted by inventory provisions for low-yielding Blackwell material and may continue to be impacted in future. Notable commentary available here. Shares fell 6.9% after-hours; desks suggest disappointment amid a lack of a “mega-beat”.
• Salesforce Inc (CRM) Q2 2024 (USD): Adj. EPS 2.56 (exp. 2.36), Revenue 9.33bln (exp. 9.23bln); President and CFO Amy Weaver to step down. Shares rose 4.1% after-market.

NOTABLE HEADLINES

• Apple (AAPL) reportedly orders over 10% more of its first AI-equipped iPhones vs last year, according to Nikkei sources; told suppliers to prepare for 88-90mln iPhones (vs initial order for ~80mln iPhones).
• OpenAI is in talks for a funding round valuing it over USD 100bln with Microsoft (MSFT) also expected to put its money, according to WSJ.
• Fed’s Bostic (2024 voter) said there is still a distance to go on inflation, while the labour market is quite strong by historical standards, according to Reuters. He repeated that he is still awaiting data to be sure it’s time to cut rates. He noted inflation has come down faster than expected, unemployment has risen further than he thought. He noted the Fed can not wait till inflation is at 2% to move away from a restrictive stance – “This means we should pull forward rate cut to 3rd quarter”. He warned it would not be good to cut rates only to have to raise them again.
• WSJ’s Timiraos, in reference to Discount rate minutes, said “On Tuesday, the minutes for the July discount rate meetings showed that the boards of the Chicago Fed and New York Fed proposed setting the discount rate at a level 25 bps lower than where it has been all year. Some commentators inferred that this meant the New York Fed president must have supported a lower fed-funds rate in July.”
• US Supreme Court declined to revive Biden administration’s student debt relief plan, according to Reuters.

APAC TRADE

EQUITIES

• APAC stocks traded mostly with modest losses following the weak lead from Wall Street and in the aftermath of NVIDIA’s ill-received earnings. The tech sector was among the laggards in the region with Samsung Electronics (005930 KS), Tokyo Electron (8035 JT), and TSMC (2330 TT) all opening lower by 2-3%.
• ASX 200 was subdued amid the broader market mood and with Australia’s earnings season picking up in pace. Materials, Energy and Tech resided as some of the lagging sectors.
• Nikkei 225 briefly dipped under USD 38k in early trade, with Japanese activity also affected by the approaching Typhoon Shanshan, although the index eventually eked mild gains amid gains in Industrial names.
• Hang Seng and Shanghai Comp both conformed to the APAC mood and later extended their losses, whilst earnings season in Hong Kong saw Meituan jump almost 10% while Li Autos slid 10.6%.
• US equity futures were mixed with the ES (-0.3%) and NQ (-0.7%) lower amid NVIDIA slumping almost 7% after its earnings and conference call. YM (+0.3%) and RTY (+0.4%) traded with modest gains throughout the APAC session.
• European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.2% after cash closed higher by 0.3% on Wednesday.

FX

• DXY was relatively uneventful with a downward bias, and within narrow ranges in what was seemingly more of a consolidation after the prior day’s rise. Little reaction was seen to commentary from Fed’s Bostic overnight at a moderated Q&A as he reiterated comments from recent speeches. DXY traded in a 100.91-101.02 range, within Wednesday’s 100.59-101.17 parameter.
• EUR/USD was marginally firmer amid the modestly softer Dollar in early APAC trade, with the pair attempting to recoup losses after printing a 1.1104 low yesterday. EUR/USD traded in a 1.1117-37 range.
• GBP/USD saw some momentum after the pair mounted 1.3200 to the upside to print a 1.3214 APAC peak. Cable thereafter oscillated around the round figure.
• USD/JPY was steady and largely moved in tandem with the USD amidst the absence of newsflow in another quiet summer session. USD/JPY traded between 144.23-79.
• Antipodeans were both firmer to varying degrees. NZD outpaced peers following the ANZ data which showed NZ business confidence soaring. NZD/USD reached a 0.6294 high whilst AUD was later hindered by the AUD/NZD cross approaching 1.0800 to the downside.
• PBoC set USD/CNY mid-point at 7.1299 vs exp. 7.1297 (prev. 7.1216)

FIXED INCOME

• 10-year UST futures saw flat trade in a quiet APAC session and after settling lower by half a tick on Wednesday, while the 5-year auction tailed was well received compared to recent auctions.
• Bund futures traded on either side of 134.00 in a narrow 133.95-134.04 range and within yesterday’s 133.89-134.39 parameter.
• 10-year JGB futures were flat for most of the session but saw a fleeting uptick after Japan’s 2-year JGB auction saw the strongest demand ratio in two years.
• US sells USD 70bln of 5yr notes; High Yield: 3.645% (prev. 4.121%, six-auction average 4.370%). WI: 3.642%. Tail: 0.3bps (prev. 1.1bps, six-auction avg. 0.4bps). Bid-to-Cover: 2.41x (prev. 2.4x, six-auction avg. 2.38x). Dealers: 13.2% (prev. 14.0%, six-auction avg. 15.2%). Directs: 16.3% (prev. 18.8%, six-auction avg. 17.9%). Indirects: 70.5% (prev. 67.2%, six-auction avg. 66.8%).

COMMODITIES

• Crude futures moved sideways the prior session’s selling with newsflow quiet overnight and amidst a lack of geopolitical escalation.
• Spot gold was modestly firmer but uneventful amid a lack of catalysts, with the yellow metal testing resistance at USD 2,515/oz throughout the session.
• Copper futures were subdued and reflective of the broader APAC sentiment, although 3M LME copper remained in a tight parameter.
• Argentinian mining secretary said mining exports to double to USD 10bln in 2027 from USD 4bln this year on lithium and copper, according to Reuters.
• South32 (S32 AT) expects to see improvement in aluminium prices on USD weakness and China buying, according to Reuters.

CRYPTO

• Bitcoin traded horizontally on either side of USD 59k.

NOTABLE ASIA-PAC HEADLINES

• PBoC injected CNY 150.9bln via 7-day Reverse Repo at a maintained rate of 1.70%.
• South Korean President Yoon said the government will introduce an automatic stabilization tool for the long-term sustainability of pension fund and is to raise the basic monthly pension by KRW 400k within his term, according to Reuters.

DATA RECAP

• New Zealand ANZ Business Outlook (Aug) 50.6% (Prev. 27.1%)
• New Zealand ANZ Own Activity (Aug) 37.1% (Prev. 16.3%)
• Australian Capital Expenditure (Q2) -2.2% vs. Exp. 1.0% (Prev. 1.0%)
• Australian Plant/Machinery Capex (Q2) -0.5% (Prev. 3.3%)
• Australian Building Capex (Q2) -3.8% (Prev. -0.9%)

GEOPOLITICS

• No notable updates.

EU/UK

NOTABLE HEADLINES

• Italy plans to confirm commitment to bring deficit-to-GDP ratio below EU’s 3% ceiling in 2026 in upcoming medium-term structural budget plan, according to Reuters sources

DATA RECAP

LATAM

• Brazilian President Lula nominated BCB Director Galipolo as the Brazil Central Bank chief, according to Reuters.
• Mexico Lawmaker Monreal said Judicial reform is to be debated in the lower house in the first week of September, according to Reuters.

2D JAPAN

3 CHINA

CHINA/IRAN

China imports a record amount of oil from Iran

(zerohedge)

What Sanctions? China Imports Record Amount Of Iranian Oil

Wednesday, Aug 28, 2024 – 06:00 PM

China’s imports of Iranian oil are poised to reach a record 1.75m b/d this month, data from Kpler show.

That will surpass the previous peak of 1.66m b/d set in October 2023, according to Kpler data that extends back to January 2013, and is almost 50% higher compared with 1.24m b/d last month.

Shipments into Rizhao and Dalian significantly higher m/m, said Muyu Xu, an analyst with Kpler

“Chinese teapots see refining margins slightly improving, they now have stronger motivation to ramp up production and therefore need more feedstock,” she said

Flows into Lanqiao/Rizhao and Dalian almost doubled m/m to 342k b/d and 132k b/d, respectively

We got an advance look at China’s record appetite for Iranian oil last week when Bloomberg reported that China imported a record volume of crude from Malaysia last month, pointing to a renewed appetite for cheaper Iranian oil as refiners grapple with lower margins due to an economic slowdown.

The world’s biggest crude importer took 6.21 million tons from Malaysia in July, the equivalent to 1.47 million barrels a day, or almost triple the average daily production from the Southeast Asian nation over the course of 2023.

Why is this a key leading indicator? Because the seas off Malaysia have long been a hub for transferring crude and oil products from one tanker to another, meant to mask the country of origin, especially from Iran. Officially, China hasn’t purchased Iranian barrels since June 2022, according to government data. Unofficially, it is buying record amounts.

Oil from Iran – which once upon a time the US pretended to sanction – has become the cheapest option for Chinese buyers, even more than Russia, and more independent refiners are seeking barrels from the OPEC producer to boost their margins, said traders who participate in the market. Iranian Light was last offered at a discount of $6 a barrel to ICE Brent, they added, compared with a discount of less than a $1 for comparable crude from Russia.

Importers registered in China’s Shandong province were the biggest buyers of Iranian crude – masking as Malaysian – accounting for over 70% of the volume, according to customs data. Overall, eight Chinese regions including Liaoning and Henan took oil from the Southeast Asian nation, the most since October 2023.

end

CHINA/USA

Beach bound President Biden seems oblivious to this. He does not want to be bothered

(zerohedge)

PLA Will ‘Reunify’ Taiwan: Chinese General Confronted Sullivan Just Before Surprise Xi Meeting

BY TYLER DURDEN

THURSDAY, AUG 29, 2024 – 09:55 AM

Chinese leader Xi Jinping met with US National Security Adviser Jake Sullivan on Thursday at the end of the latter’s three day trip to Beijing, which is a first such trip for a sitting US national security adviser in eight years.

But the most interesting and tense moment came just before that, when Sullivan met one of China’s vice chairs of the Central Military Commission, Gen. Zhang Youxia. The top general confronted Sullivan on growing US support for Taiwan’s military. Zhang informed Sullivan that reunification of Taiwan with the mainland is “the mission and responsibility” of the Chinese PLA military and that it won’t be deterred. Sullivan looked nervous and unsettled throughout the whole encounter, with Zhang confident and beaming.

“China demands that the United States stop military collusion between the U.S. and Taiwan, stop arming Taiwan and stop spreading false narratives about Taiwan,” the statement issued by the defense ministry said.

Sullivan meekly opted for a diplomatic and conciliatory tone in response, saying “it is rare that we have the opportunity to have this kind of exchange” and underscored “the need for us to responsibly manage U.S.-China relations.”

A follow-up White House also statement sought to emphasize the two sides had “recognized the progress in sustained, regular military-military communications over the past 10 months.”

As for statements in the wake of Sullivan’s rare meeting with President Xi, there were the usual expressions of managing competition and avoiding direct conflict:

“We believe that competition with China does not have to lead to conflict or confrontation. The key is responsible management through diplomacy,” he told reporters at a news conference shortly before leaving Beijing.

“While great changes have taken place in the two countries and in China-U.S. relations, China’s commitment to the goal of a stable, healthy and sustainable China-U.S. relationship remains unchanged,” Xi said.

“President Biden is committed to responsibly managing this consequential relationship to ensure that competition does not veer into conflict or confrontation, and to work together where our interests align,” Sullivan continued, echoing the familiar theme.

But the fact that he was confronted by the PLA delegation and was essentially told off concerning the hot button Taiwan issue is likely going to be used by Republicans back home to point out the weaknesses of the Biden White House’s foreign policy.

A main campaign theme of Trump is that the world no longer “respects” America, and the hawks will most certainly highlight Sullivan’s cowering as a PLA general informed him essentially that ‘we will take Taiwan’.

Footage of the meeting shows the Chinese military delegation looking confident, with an unsettled and nervous Sullivan and his team appearing like deer in the headlights…

As for the surprise meeting with Xi, the Chinese leader’s tone was reported to be surprisingly conciliatory, perhaps realizing he’s dealing with a lame duck administration.

“Earlier on Thursday it was revealed that the two sides had agreed to plan a call between Xi and Biden,” The Guardian reports. However, there are “no known plans for the two leaders to meet again in person before the US election in November.”

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

FRANCE

Can you believe this garbage: Durov is charged with criminal use of his app.

(zerohedge)

Telegram CEO Pavel Durov Charged With ‘Criminal Use Of App’; Not Allowed To Leave France

Wednesday, Aug 28, 2024 – 04:03 PM

Update(1600ET): Paris prosecutors have confirmed that Telegram founder Pavel Durov has been charged and released on bail for six charges of ‘alleged criminal use’ of this app.

One of the charges – complicity in administering an online platform permitting illicit transactions by an organized group – carries a maximum penalty of 10 years in prison and a fine of 500,000 euros ($555,750).

He has been ordered to pay 5 million euros bail and is not allowed to leave France, and police will likely be monitoring closely any efforts to access his private jet or travel near airports, or ports of exit. Likely the precise list of charges as spelled out by the court will emerge in the coming hours.

Politico writes that he must check in at a police station twice a week:

The charges include complicity in managing an online platform “in order to enable an illegal transaction in organized group,” and refusal to cooperate with law enforcement authorities, the Paris prosecutor’s office said in a press release.

https://twitter.com/wikileaks/status/1828858679283622028/photo

* * *

end

GERMANY

Germany started to falter once they switched from nuclear power

(zerohedge)

Study Quantifies Germany’s Disastrous Switch Away From Nuclear Power

Thursday, Aug 29, 2024 – 05:00 AM

Authored by Ross Pomeroy via RealClearScience,

At the dawn of the millennium, Germany launched an ambitious plan to transition to renewable energy. “Die Energiewende” initiated a massive expansion of solar and wind power, resulting in a commendable 25 percent reduction in carbon emissions by 2022 compared to 2002.  

But while Energiewende slashed pollution through building out renewable energy sources, it also phased out Germany’s fleet of safe, carbon-free nuclear power plants, a longtime goal of environmental activists afraid of nuclear’s salient – but in actuality small – dangers. The result, according to a new analysis recently published to the International Journal of Sustainable Energy, has been a boondoggle for consumers and for the environment. 

In 2002, nuclear power supplied about a fifth of Germany’s electricity. Twenty-one years later, it supplied none. A layperson might think that cheap wind and solar could simply fill the gap, but it isn’t so simple. Once up and running, nuclear reactors provide reliable, affordable “baseload” power – electricity that’s available all the time. Ephemeral renewables simply can’t match nuclear’s consistency. And since an advanced economy like Germany’s requires a 100 percent reliable power grid, fossil fuel power plants burning coal and natural gas were brought online to pick up wind and solar’s slack.  

The net result of German politicians’ shortsightedness in phasing out nuclear power is a vastly pricier grid. The new analysis shows that if Germans simply maintained their 2002 fleet of reactors through 2022, they could have saved themselves roughly $600 billion Euros. Why so much? Well, in addition to their construction costs, renewables required expensive grid upgrades and subsidies. Moreover, in this hypothetical scenario where nuclear remained, Germany enjoyed nearly identical reductions in carbon emissions.  

Jan Emblemsvåg, a Professor of Civil Engineering at Norway’s NTNU and the architect of the analysis, imagined another scenario out of curiosity. What if the Germans had taken the money spent on expanding renewables and instead used it to construct new nuclear capacity? According to his calculations, they could have slashed carbon emissions a further 73% on top of their cuts in 2022, while simultaneously enjoying a savings of 330 billion Euros compared to the massive costs of Energiewende.  

Policymakers in other countries looking to decarbonize their grids should take note.

END

GERMANY

German police union boss warns that bec

“The Immigration Crisis Is First & Foremost A Crime Crisis” – Police Union Boss Warns Germany No Longer Safe

Thursday, Aug 29, 2024 – 02:00 AM

Via ReMix News,

In what is increasingly becoming a PR disaster for the far-left German government, the terror knife attack in Solingen, perpetrated by a Syrian national, is highlighting the unavoidable connection between immigration and exploding crime and violence.

In the wake of the attack, German police union (DPoIG) chairman Manuel Ostermann slammed the status quo, called the immigration problems a crime problem, and said Islam was the greatest threat to the country in terms of security.

🇩🇪‼️ "Germany is no longer a safe country… The migration crisis is first and foremost a crime crisis."

German police union (DPoIG) chairman Manuel Ostermann makes a major statement following the Solingen terror attack by a Syrian Islamist. pic.twitter.com/ZolmrLnMHa

— Remix News & Views (@RMXnews) August 28, 2024

“Yes, our country has changed. Nothing about it is positive. Germany is no longer a safe country. We have a massive problem with knife crime. The migration crisis is first and foremost a crime crisis. And the greatest danger to life and limb of people living in Germany is clearly posed by Islamists. This reality can no longer be ignored or tabooed. Now is the time to recognize reality and implement clear measures in the constitutional fight against precisely this security policy madness,” Ostermann said in a video statement.

As the leader of the second-largest police union in Germany, with nearly 100,000 members, his words carry extra weight with the public and police forces who have to deal with Germany’s surging insecurity.

In an interview, he said that politicians often deliver empty phrases following such attacks, and Solingen was no different. He noted that the Islamist terror attack in Mannheim, which resulted in a police officer’s death showed, there is little concern for what officers have to face.

“It is incomprehensible that budgetary resources for the police are being cut while the threat level is increasing,” Ostermann told Apollo News.

🇩🇪‼️ NEW: After a Syrian migrant killed 3 at the Festival of Diversity in Solingen, now the German far-left government is talking about what amounts to essentially banning knives.

The problem?

Knife-free zones already exist, and they are woefully ineffective in Germany. pic.twitter.com/p3cE5zr4uY

— Remix News & Views (@RMXnews) August 27, 2024

According to Ostermann, asylum policy is failing. The trade unionist said there is a lack of deportation detention centers, bureaucratic insanity, and a lack of action from politicians. The fact that most deportations fail “speaks volumes,” he said.

Ostermann’s stance is a sharp repudiation of Interior Minister Nancy Faeser’s claims for years that the far right is the country’s biggest extremism threat, despite ample evidence showing otherwise. Now, with record violent crime levels in Germany, record amounts of foreigners committing crimes, an Islamic extremist knife attacker in Mannheim who killed a police officer earlier this year, and the latest attack in Solingen during the Festival of Diversity that killed three, her claims are looking more and more ludicrous.

Meanwhile, Social Democrat (SPD) leader Saskia Esken claimed in response to the Solingen massacre that “I don’t think we can learn much from this attack.”

🇩🇪‼️The left plays dumb after terror knife murders in Germany

After a Syrian migrant kills 3 at the Festival of Diveristy in Solingen, the head of the far-left SPD party, Saskia Esken, says: "I don't think we can learn much from this atack."

She made this claim despite… pic.twitter.com/LhiPv6m6Kp

— Remix News & Views (@RMXnews) August 28, 2024

Notably, the Syrian national responsible was ordered to be deported in 2022 but went into hiding. After reappearing six months later, he was granted protected status.

Read more here…

END

GERMANY

support of the far right AfD surges after the knife attack

(zerohedge)

Support For AfD Surges In Germany After Knife Attack Leaves 3 Dead

Thursday, Aug 29, 2024 – 06:30 AM

Authored by Mike Shedlock via MishTalk.com,

In the wake of three fatal stabbings by a Syrian immigrant whose asylum was denied, the anti-immigration AfD may win three state elections in September.

Knife Attack

NPR reports Man claiming to be behind Solingen knife attack turns himself in, German police say.

A 26-year-old Syrian asylum-seeker turned himself in to police, saying he was responsible for the Solingen knife attack that left three dead and eight wounded at a festival marking the city’s 650th anniversary, German authorities announced early Sunday.

On Saturday the Islamic State militant group claimed responsibility for the attack, without providing evidence. The extremist group said on its news site that the attacker targeted Christians and that he carried out the assaults Friday night “to avenge Muslims in Palestine and everywhere.” The claim couldn’t be independently verified.

The attack comes amid debate over immigration ahead of regional elections next Sunday in Germany’s Saxony and Thueringia regions where anti-immigration parties such as the populist Alternative for Germany are expected to do well. 

According to Reuters, Thuringia and Saxony vote on Sept. 1 and Brandenburg follows on Sept. 22. Combined, the three states have around 8.5 million inhabitants and account for 10% of Germany’s population.

The far-right AfD is expected to emerge as the strongest party in these elections. It may be difficult or impossible for an anti-AfD coalition to suppress AfD.

AfD Crowds Cheer Nation’s Most Feared Politician

The Guardian reports AfD Crowds Cheer Nation’s Most Feared Politician

Three eastern German states hold elections next month and, by a quirk of the calendar, the regions up for grabs are among those with the most supporters of the far-right Alternative für Deutschland. If the polls are accurate, the AfD could wind up the strongest party in all three, a year before the planned date of Germany’s next general election. Depending on who you ask, it would be a political earthquake, a catastrophe or a wake-up call for the country.

The strength of the AfD and a new populist upstart, the “leftwing conservative” Bündnis Sahra Wagenknecht (Sahra Wagenknecht Alliance), underlines dovetailing trends in Europe’s top economy: mounting frustration with incumbents, anxiety about Germany’s military support for Ukraine and festering divisions between east and west more than three decades after reunification.

Höcke, 52, co-heads the state chapter of the AfD in Thuringia, which will vote on 1 September along with Saxony. The AfD, polling at about 30%, has been classed as “confirmed rightwing extremist” by the Federal Office for the Protection of the Constitution, the domestic security watchdog, in both states. Brandenburg, the largely rural state surrounding Berlin, will hold its election on 22 September. Its AfD chapter is listed as “suspected rightwing extremist”.

Government Future in Danger

DW reports German Government’s Future in Danger in Regional Elections

Though eastern Germany is often seen as a homogenous region, there are major political differences among the states. While Thuringia has been governed for the last decade by the socialist Left Party under State Premier Bodo Ramelow, Saxony has been led by Michael Kretschmer of the center-right Christian Democratic Union (CDU) since 2017.

In both states, the only possible coalitions that keep the AfD out of government (and all the other parties have promised to do that) appear to be an uncomfortable alliance between the CDU and Sahra Wagenknecht Alliance (BSW). It would be bizarre partnership: The former is a centrist party that likes to present itself as a rock of stability, tradition, and conservatism, the latter an upstart outfit less than a year old run by a former communist with a gift for populist rhetoric.

“Sahra Wagenknecht is a cult figure in eastern Germany. She leads the party autocratically, and she is a focus of the yearning for authority and leadership in the east,” as Vorländer puts it.

An alliance with the BSW, which is polling at nearly 20% in Thuringia and over 10% in Saxony, is likely to be difficult to digest for some in the CDU. Apart from the fact that Wagenknecht was once a member of the Socialist Unity Party of Germany (SED) in the communist East German dictatorship, she is already making demands that will be difficult for the CDU to accept. For instance, that it should declare itself against the stationing of US medium-range ballistic missiles in Germany.

And though the BSW has consistently distanced itself from the far-right AfD and ruled out any cooperation, one fact looms uncomfortably over this election: The two parties have more in common than sets them apart.

All this leaves Scholz’s SPD in a desperate situation, especially because another eastern German state, Brandenburg, will hold an election three weeks later. Here, too, the AfD is leading the polls, with the SPD and CDU vying for second place.

Yet in some ways, it is Scholz’s coalition partners that have the most to fear from these three elections. The Green Party, currently in government in all three states, is likely to lose that influence, while the neoliberal Free Democrats (FDP) are facing annihilation in the East — probably as punishment for hitching their wagon to the Scholz train. That does not bode well for Scholz’s already fractious coalition.

SPD on the Brink of Extinction

SPD is hovering around 5 percent in opinion polls in both Saxony and Thuringia.

That is the threshold to have any representation in Government.

Saxony Polls

Die Linke (the Left), the Greens, SPD, and FDP are all on the 5 percent boot threshold.

They all deserve the boot. But that does not imply cheering for any of them.

Thuringia Polls

Die Linke is much stronger in Thuringia than Saxony.

Brandenburg Polls

Be prepared to kiss FDP goodbye in a clean sweep.

The Greens appear to go up in flames in Thuringia and hopefully across the board.

The more parties that get booted, the harder it will be to form any coalitions.

It will be impossible to exclude both AfD and BSW. Both are anti-immigration, pro-Russia.

National Elections

The next national election has been set for Sept. 28, 2025.

Chancellor Olaf Scholz says he will run for a second term, but support for his SPD party has collapsed.

The famed traffic light coalition is unworkable with combined support down to 48.5 percent with FDP on the bubble. FDP deserves to get booted for agreeing to join the current coalition mess.

Anyone for another failed “Grand Coalition” between CDU/CSU and SPD?

END

ITALY

Meloni ramps up punishment for boats rescuing illegals in the Mediterranean

(zerohedge)

Italy Ramps Up Punishment For Boats Rescuing Illegals In Mediterranean

Thursday, Aug 29, 2024 – 05:45 AM

In a sharp escalation of Italy’s ongoing crackdown on illegal migration across the Mediterranean, the government of Prime Minister Giorgia Meloni has impounded a humanitarian rescue ship for the 23rd time. The vessel, Geo Barents, operated by the international medical charity Médecins Sans Frontières (MSF), was detained in the port of Salerno this week following its rescue of 191 migrants.

The 60-day detention order, issued on Monday night, is one of the most severe actions taken in an 18-month campaign against humanitarian groups operating in the Mediterranean. Italian authorities accused Geo Barents of endangering lives and failing to provide timely information during a night-time rescue last Friday, when the crew intervened to save migrants from a small fiberglass boat that was being approached by a Libyan coastguard vessel, FT reports.

MSF, however, has rejected these accusations, stating that their crew had “no choice” but to carry out the rescue after witnessing a significant number of people falling—or being pushed—overboard. The charity has labeled the Italian government’s decision as “arbitrary and inhumane.”

The impoundment is in-line with Meloni’s vow to curb irregular migration – a key promise of her administration, which has led to a sharp decrease in migrant arrivals—just over 39,500 this year, compared to 112,500 in the same period last year.

NGOs Protest…

The groups ferrying in illegals – including MSF, Oxfam Italia, and SOS Humanity – have decried the measures as a “systematic obstruction of civilian search and rescue activities,” which they say are now taking a toll in human lives. The groups filed formal complaints with the European Commission over a year ago, questioning whether Italy’s regulations comply with EU and international law. Brussels is still evaluating the matter.

“They are selling this to public opinion as success, but the price is death and very severe human rights violations,” said Juan Matias Gil, who leads MSF’s Mediterranean search and rescue operations.

Of course, globalist leaders have denounced the measures – including Pope Francis. In a strong rebuke during his weekly audience on Wednesday, the pontiff slammed the refusal of aid to migrants crossing the Mediterranean as a “grave sin.”

The International Organization for Migration (IOM) has noted that while irregular arrivals to Italy have decreased, the number of shipwrecks and drownings has not seen a corresponding decline. The IOM estimates that at least 1,027 migrants have died or gone missing in the central Mediterranean this year, making the crossing more perilous than ever.

Furthermore, 13,763 migrants intercepted at sea have been returned to Libya, where they often face imprisonment and abuse, according to the IOM.

Maybe if they weren’t promised a government-funded life abroad they wouldn’t have attempted the crossing?

Right after Meloni took office in late 2022, her government implemented strict new rules to limit the ability of humanitarian groups to rescue migrants. These include warnings that vessels failing to comply with the protocols will be impounded—a threat that has been repeatedly realized. Ten search and rescue boats have been detained by Italian authorities, some more than once, resulting in a cumulative loss of 480 days at sea for rescue operations this year alone, according to SOS Humanity.

The impounding of Geo Barents marks the vessel’s third detention, and MSF has vowed to challenge the “unlawful detention” in court. However, such cases are often not heard until long after the boats have been released, effectively undermining the legal process.

“The government knows very well that the speed of justice is much slower than the administrative measure,” said Gil. “We are losing money . . . and all that time we are locked in port is never coming back.”

Meanwhile, other rescue vessels, like the MV Louise Michel—funded by the artist Banksy—continue their operations under increasing pressure. After being released from a 20-day detention on August 7, the crew of the Louise Michel reported rescuing 229 people from seven boats in distress in the Mediterranean just this week.

As the Meloni government tightens its grip on the Mediterranean, the future of humanitarian rescue missions in the region remains fraught with uncertainty, and the human cost of this geopolitical struggle continues to rise.

END

FRANCE/UAE

UAE Cancels $20 Billion Rafale Deal with France despite Telegram CEO’s Release – Defence News | The Financial Express
UAE spreads it’s wings in using clout!

https://www.financialexpress.com/business/defence-uae-cancels-20-billion-rafale-deal-with-france-despite-telegram-ceos-release-3595771/

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL/SAUDIA ARABIA/

Saudi Arabia Outraged At Ben-Gvir’s Call To Build Synagogue Over Al-Aqsa Mosque

Thursday, Aug 29, 2024 – 04:15 AM

In recent years Saudi Arabia and Israel have been moving remarkably fast toward the restoration of official relations, in what’s been called a highly anticipated ‘deal of the century’ – but the Gaza war in the wake of Oct.7 have put these efforts on hold and looks to derail the initiative altogether.

This week tensions have escalated, given that Muslims see current Israeli policies toward Al-Aqsa mosque in Jerusalem as very seriously threatening and an affront to their faith. Israel’s hard-line Security Minister Itamar Ben-Gvir this week went to so far as to call for a synagogue to be built atop Islam’s third holiest site.

The remarks came during a Monday interview with Army Radio and immediately unleashed controversy, with some Israeli groups even condemning the remarks as needlessly inflammatory and unrealistic.

Ben-Gvir during the interview said that Jews should be allow unrestricted access to pray at the site of the Al-Aqsa mosque, which is situation upon what’s called Temple Mount and the Western Wall, a sacred site for the Jews.

Any establishment of a synagogue or new (third) temple on the site would require the destruction of the Al Aqsa Mosque, possibly leading to Islamic uprisings in the region so large it could trigger broader war.

According to Ben-Gvir’s words in the public broadcast interview: 

“If I could do anything I wanted, I would put an Israeli flag on the site,” Ben-Gvir said in the interview.

Asked several times by a journalist if he would build a synagogue at the site if it were up to him, Ben-Gvir finally replied: “Yes.”

Saudi Arabia was quick to condemn the “extremist” words. “The kingdom affirms its categorical rejection of these extremist and inflammatory statements and its rejection of the continuous provocations of the feelings of Muslims around the world,” an official statement reads.

It added, “The kingdom stresses the need to respect the historical and legal status quo of the blessed Al-Aqsa Mosque, renewing its call to the international community to fulfill its responsibilities in putting an end to the humanitarian disaster that the brotherly Palestinian people are enduring and to initiate serious mechanisms to hold Israeli officials accountable for the ongoing violations of international laws, norms, and resolutions.”

Other governments in the region, especially Turkey, also condemned the Israeli national security minister’s remarks:

Türkiye condemns Ben-Gvir's call to build synagogue inside Al-Aqsa Mosque

Türkiye has strongly condemned Israeli National Security Minister Itamar Ben-Gvir's recent remarks about building a synagogue within the Al Aqsa Mosque compound, calling it a "new and extremely dangerous"… pic.twitter.com/u8Ld7JCayV

— The SETA Foundation at Washington DC (@SETADC) August 28, 2024

The Saudi kingdom oversees the two holiest sites in Islam of Mecca and Medina, and hosts annual Haj (pilgrimage) events, and so Riyadh often serves the role of a global spokesman for broader Islamic issues.

END

ISRAEL WEST BANK

IDF kills five terrorists in West Bank operation, discovers explosives lab in mosque

One of the terrorists killed was involved in the shooting attack that led to the murder of an Israeli civilian, Amnon Muchtar, in June.

By JERUSALEM POST STAFFAUGUST 29, 2024 03:53Updated: AUGUST 29, 2024 11:26

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-816861&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

Five terrorists who were hiding inside a mosque were killed during a joint IDF, ISA, and Israeli Border Police counterterrorism operation in Tulkarm on Thursday, the IDF announced. Other terrorists were arrested.

One of the terrorists killed was Muhhamad Jabber, “Abu Shujaa,” the head of a terrorist network in Nur Shams, who was involved in the shooting attack that led to the murder of an Israeli civilian, Amnon Muchtar, in June, the IDF added. 

The IDF also arrested a wanted Islamic Jihad terrorist in a refugee camp in Tulkarm on Wednesday night, Army Radio posted on X.

Muhammad Qassas is reportedly a senior terrorist operative in the Al Quds Brigade of the Palestinian Islamic Jihad and was arrested while hiding in a mosque.

According to Palestinian reports, the IDF soldiers entered the refugee camp dressed in civilian clothes and proceeded to enter the mosque. Army Radio and Arab media reported that a shootout took place between terrorists and IDF, during which multiple terrorists were killed.

During the operation, a Border Police soldier was lightly wounded and evacuated for further medical treatment.

The IDF also discovered a laboratory for the manufacture of explosive devices and a terrorist operations room while searching inside the Abu Bakr al Siddiq Mosque in the Jordan Valley, IDF Arabic Spokesperson Avichay Adraee wrote on X early on Thursday morning. 

The lab was discovered during IDF activities to thwart terrorism in the Far’a camp in the Jordan Valley.

https://twitter.com/AvichayAdraee/status/182890893575733298

Terrorists had used the mosque as a base to carry out terrorist attacks against IDF forces, Adraee said.

---

---

IDF defuses immediate threat to civilian and military lives

While searching the facility, the IDF found explosive devices which it deemed “too dangerous to use or even move.”

Assessing the situation and perceiving an immediate threat to IDF forces and civilians near the mosque, the IDF said it took the decision to immediately destroy the devices,” the spokesperson stated.

No damage was sustained to the prayer hall as a result of the explosives’ destruction, however a fire broke out. The fire was extinguished.

END

Day 2 of the IDF incursion into the West Bank

(zerohedge)

IDF Fires Missiles On West Bank Mosque, Killing Top Terror Commander, In Day 2 Of Incursion

Thursday, Aug 29, 2024 – 03:50 PM

Thursday marks day two of the Israeli military and security forces’ large-scale raid into the West Bank, the biggest seen in at least two decades. Fierce fighting overnight focused on a mosque in the city of Tulkarem, resulting in five Palestinian gunmen being killed.

The first day of the major assault involving hundreds of IDF troops and Shin Bet security personnel left at least nine Palestinians dead. Fighter jets, drones, and bulldozers have been seen focusing counter-terror efforts in the towns of Jenin, Tulkarem and Tubas – each which also contains sprawling refugee camps.

Amid international criticism over the apparent expansion of the Gaza war into the PA-administered West Bank, Israeli leadership says it has intelligence showing that if it didn’t act, another Oct.7-style terror attack might have been launched from operatives in the West Bank.

As for the now pacified showdown at the Tulkarem mosque, Israeli media describes that at one point the military launched shoulder-fired missiles at the mosque: 

The Yamam officers carried out a tactic known as “pressure cooker” that involves escalating the volume of fire directed at a building to force suspects to come out.

The Israeli forces had fired shoulder-launched missiles at the mosque as part of the tactic, and two gunmen were killed. In an adjacent building, another four gunmen were identified, and three of them were killed in an exchange of fire with the Yamam officers, while the fourth surrendered.

Among the dead who had been holed up in the mosque was Muhammad Jaber, aka Abu Shuja’, believed to be the commander of the Islamic Jihad’s local wing. The IDF says it has recovered explosive devices at the site.

Breaking | Israeli occupation forces detonate Abu Bakr Al-Siddiq mosque in Al-Fara refugee camp in Tubas. pic.twitter.com/umiD9L6XfI

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

Militants are not only being targeted by ground forces in the ongoing West Bank operations, but drone strikes on vehicles are playing an active role as well. Attack helicopters are also coordinating these efforts.

Since Oct.7, the West Bank has seen internecine fighting, also involving Jewish settlers. In all, Palestinian sources say that 650 West Bank Palestinians have been killed since the Gaza war began. The Israeli side has said during the same period 27 Israelis, including security personnel have been killed in terror attacks in Israel and the West Bank.

Things haven’t been this violent in the West Bank since the Second Intifada, but the prior intifiadas of 20+ years ago show that things could always get worse.

None of this bodes well for efforts to achieve a Gaza ceasefire deal, talks which have been centered in Cairo. Hamas is likely to point to Israel’s expansion of the war into the West Bank as a reason to show Tel Aviv isn’t serious about peace.

END

I

ISRAEL/HAMAS

Rescued Bedouin hostage witnessed Hamas murder captives, was operated on without sedation – N12

Alkadi shared with N12 that he was shot in the leg by terrorists on October 7 and, while in captivity, underwent surgery to remove the bullet in his leg. 

By JERUSALEM POST STAFFAUGUST 29, 2024 06:05

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-816866&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

Qaid Farhan Alkadi, who was rescued from Hamas captivity on Tuesday in a joint operation by the IDF and Shin Bet (Israel Security Agency), revealed details from his captivity, including undergoing surgery with almost no anesthesia and witnessing the murder of a fellow hostage, N12 reported on Wednesday. 

Alkadi shared with N12 that he was shot in the leg by terrorists on October 7 and, while in captivity, underwent surgery to remove the bullet in his leg. 

“The surgery was done with almost no anesthesia, and it was extremely painful. Initially, I was held in an apartment with other hostages, and there was very little food.”

Alkadi stated that just a few weeks after he was taken hostage, terrorists filmed other hostages held with him. He recounted to N12 that in the video, one could see the hostage dying, which was filmed but never released by the terrorists. He shared how he witnessed the murder of the hostage beside him. 

Alkadi said he was allowed to bathe once a month, stating, “Once a month, they let me bathe in a basin. I was kept alone in a tunnel, in complete darkness.”

Regarding his movement in Gaza, he said, “After about two months, the terrorists moved me to a tunnel. There, I was alone, surrounded only by the terrorists. I couldn’t tell the difference between day and night.”

“The terrorists were masked and mostly gave me slices of bread to eat—there was very little food. It was pitch black, and I would place my hands over my eyes to make sure I could still see; it was that dark,” he told N12.

Alkadi also recounted the story of his rescue to N12. He said that he heard extensive IDF bombing in Gaza, and in his final days of captivity, terrorists left him a small portion of bread and fled. Only later, he would hear Hebrew and realize that IDF soldiers were operating nearby.

Prior to entering the tunnel where Alkadi was held, soldiers carried out operations and actions that led to the escape of the terrorists holding Alkadi. After this, the soldiers began searching the tunnel. Alkadi called out to them in Hebrew, and they engaged in a conversation to ensure it wasn’t a trap. They finally extracted him safely.

Previous medical mistreatment of hostages revealed 

The medical mistreatment of hostages in Hamas captivity has been captured in the testimonies of other former hostages. 

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Mia Schem’s aunt told Walla in November that her niece had been operated on by a veterinarian. 

Former hostage Itay Regev also reported medical mistreatment while in captivity, telling Reuters that a bullet was removed from his leg by a “scared and sweaty doctor” without anesthesia. 

Maya Regev, the sister of Itay, had to have surgery as her foot needed reattachment following Hamas’s October 7 violence. While the foot was reattached, it was left at an unnatural angle, and she gave her January interview to Reuters from a wheelchair.

END

ISRAEL/HAMAS

IDF discovers explosives manufacturing lab, terrorist operations room in Jordan Valley mosque

While searching the facility, the IDF found explosive devices which it deemed “too dangerous to use or even move.”

By JERUSALEM POST STAFFAUGUST 29, 2024 03:53Updated: AUGUST 29, 2024 04:03

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-816861&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF discovered a laboratory for the manufacture of explosive devices and a terrorist operations room while searching inside the Abu Bakr al Siddiq Mosque in the Jordan Valley, IDF Arabic Spokesperson Avichay Adraee wrote on X, formerly Twitter, early on Thursday morning.

The lab was discovered during IDF activities to thwart terrorism in the Far’a camp in the Jordan Valley.

#عاجل 🔴 خلال الأنشطة لاحباط الإرهاب في مخيم الفارعة في الأغوار تم العثور على غرفة عمليات ومختبر لصناعة العبوات الناسفة تم اخفائهما داخل مسجد أبو بكر الصديق حيث استخدمهما المخربون لتنفيذ أعمال إرهابية ضد قوات جيش الدفاع.

العبوات الخطيرة للاستخدام أو حتى للتحريك شكلت تهديدًا على… pic.twitter.com/mbfi1caZ6L

— افيخاي ادرعي (@AvichayAdraee) August 28, 2024

Terrorists had used the mosque as a base to carry out terrorist attacks against IDF forces, Adraee said.

IDF defuse immediate threat to civilian, and military lives

While searching the facility, the IDF found explosive devices which it deemed “too dangerous to use or even move.”

Assessing the situation and perceiving an immediate threat to IDF forces and civilians near the mosque, the IDF said it took the decision to immediately destroy the devices,” the spokesperson stated.

No damage was sustained to the prayer hall as a result of the explosives’ destruction, however a fire broke out. The fire was extinguished.

END

ISRAEL/HAMAS

IDF destroyed 80% of Hamas’s tunnels in Rafah, military sources claim

Despite military sources previously stating it could take six months, on Thursday, IDF sources claimed that 80% of the network had been destroyed.

By YONAH JEREMY BOBAUGUST 29, 2024 16:01Updated: AUGUST 29, 2024 16:15

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-816945&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

IDF sources on Thursday claimed that the military has destroyed 80% of the tunnels in the Rafah area, while also confirming Defense Minister Yoav Gallant’s announcement on August 21 that Hamas’s last battalion there had been taken apart.

Despite those IDF sources, other top military sources told the Jerusalem Post in late June that it could take six months simply to fully chart all of the tunnels in Rafah and years to destroy them all.

In addition, even in northern Gaza, which the IDF entered six months earlier than it entered into Rafah, there has been no indication that the IDF has reached anywhere near destroying 80% of the tunnels, with estimates ranging from just under 50% to just over 50%.

On August 21, Gallant said that the IDF had destroyed 150 tunnels along the Philadelphi Corridor alone, which makes up only a small part of the full Rafah area.

One possible resolution of the seeming contradiction is that the IDF has destroyed 80% of strategic tunnels, which includes those which are more critical to communications, intelligence, and weapons storage, but not all tunnels, including more minor ones.

Other possibilities

Another possibility is that 80% of all known tunnels to date in the area have been destroyed, but that many more have not yet been explored or found.

Yet a third possibility is that the IDF really has destroyed 80% of all tunnels in Rafah, far more than in northern Gaza and then estimated in June, due to having invested far more resources in destroying tunnels in Rafah than anywhere else, and this move was unknown by commanders back in June.

The Rafah tunnels, and the Philadelphi Corridor tunnels in particular, are viewed as having the greatest strategic importance to Hamas because they allow it to smuggle in new weapons cross-border from Egypt.

Confronted by this contradiction, the IDF Spokesperson’s office stood by the 80% claim.

END

The author lays out lessons from Oct 7. Israel for the first time does a pre-emptive strike

on Hezbollah.

(JerusalemPost)

Strangling Iran: What holds true in the West Bank, holds in Gaza – analysis

One such lesson is that it is imperative to deal with security challenges and problems early instead of waiting until they metastasize into something much larger and more dangerous.

By HERB KEINONAUGUST 28, 2024 21:15Updated: AUGUST 28, 2024 21:20

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-816822&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

Israel can learn some lessons from the October 7 catastrophe without waiting for a State Commission of Inquiry to be established and issue its findings.

One such lesson is that it is imperative to deal with security challenges and problems early instead of waiting until they metastasize into something much larger and more dangerous.

This is what the IDF did between Tuesday and Wednesday morning, launching Operation Summer Camps in northern Samaria to degrade an emerging terrorist infrastructure there before it takes on monstrous proportions.

Some may look at the movement of two additional IDF brigades into the West Bank with bewilderment, asking if this is the best use at this time of over-extended IDF manpower as the army is fighting wars of varying intensity against Hamas in Gaza and Hezbollah in Lebanon. That the IDF has allocated a division for that purpose shows that it realizes past mistakes made in Gaza and Lebanon must not be repeated in the West Bank.

And what were those mistakes? Allowing terrorist organizations to build up under Israel’s watchful eye, without Israel aggressively taking action to stop it.

This is what happened in Lebanon after the end of the Second Lebanon War in 2006.

In brazen violation of UN Security Council Resolution 1701, Hezbollah armed itself to the teeth, increasing its rocket arsenal from some 10,000 after the war to an estimated 150,000 today, and Israel took only little action to stop it.

Likewise, Hamas began turning Gaza into a deadly fortress and building up a significant and deadly arsenal from the moment it overthrew the Palestinian Authority in 2007. There, too, Israel saw but did nothing early to prevent it, trusting – tragically – that the Jewish state’s might alone would deter Hamas from using what they were building up because of a realization on the other side that using their arsenal against Israel would trigger devastating retribution.

A wake-up call

Israel is paying a heavy price for that inaction today.

The IDF’s actions on Wednesday in Jenin, Tulkarm, Tubas, and the Far’a refugee camp in the Jordan Valley indicate that it has learned that lesson. The failed suicide bombing attack last week in Tel Aviv was the catalyst for implementing this lesson.

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A terrorist believed to be from Nablus, identified as Jafar Muna, carried an 8 kg. bomb outside of a crowded synagogue when the device exploded – apparently a “work accident” – killing him and injuring a passerby. The country heaved a sigh of relief at its good fortune for this miracle, at having averted a mass-casualty incident.

But it was a wake-up call. That an explosive device of this magnitude was smuggled into Israel showed that the country needed to take the growing terrorist infrastructure developing in Judea and Samaria quite seriously. It also needs to take threats from Hamas and Palestinian Islamic Jihad, which took responsibility for the bomber, seriously as well.

Iran, which successfully identifies areas of weak governance around Israel to set up proxies to lash out at the Jewish state, has been making serious inroads into the West Bank for the last decade, smuggling weapons to a myriad of different terrorist groups there through Lebanon and Jordan.

Last August, after a 42-year-old mother of three, Batsheva Nigri, was murdered near Hebron in a shooting attack on her car, both Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant pointed fingers at Iran.

“We are in the middle of a terrorist onslaught that is encouraged, guided, and funded by Iran and its proxies,” Netanyahu said. Gallant added that the wave of terror at the time, two months before October 7, was “guided by Iran, which is looking for any way to harm Israeli citizens.”

Both Palestinian terrorists and Iranian officials have also acknowledged Iran’s involvement. Since October 7, Iran has stepped up these efforts, hoping to ignite another front against Israel.

In July of 2023, senior Hamas official Moussa Abu Marzouk was quoted in the Iranian press saying Iran is actually fighting alongside “the resistance in Palestine” through its generous support. An editorial published by the Iranian Tasnim News Agency that same month said Iran’s successful arming of the West Bank would sink the “leaking ship of Israel.”

Automatic weapons and crude pipe bombs have been replaced in the hands of terrorists by powerful improvised explosive devices (IEDs) used against troops conducting counter-terror actions in the West Bank. These IEDs, including the one that Muna wanted to explode in Tel Aviv, reveal a terrorist infrastructure developing – including IED manufacturing labs – directly under Israel’s nose that Iran could use as yet another pressure point against the country.

This is something that Israel cannot allow, and last week’s attempted suicide bombing set alarm bells ringing regarding how far Iran’s program had advanced and convincing policymakers of the need now to quash it.

The IDF’s action on Wednesday was reportedly the most significant military maneuver in the West Bank since Operation Defensive Shield which began in March of 2002, following the Netanya Park Hotel Passover Eve massacre where a suicide bombing attack killed 30 people at a Passover seder.

Up until then, the IDF – under the Oslo Agreements – stayed out of the large Palestinian cities, thereby enabling a terrorist infrastructure to thrive, one that included labs for manufacturing bombs for suicide attacks.

The Park Hotel bombing was the trigger for bringing the IDF back into the Palestinian cities. It took several years of intense military action throughout Judea and Samaria, but these actions did lead to an end to the Second Intifada and significantly degrade terrorist capabilities, leading to a precipitous drop in the number of Israelis killed in terrorist attacks: from 457 fatalities in 2002 to 9 in 2019.

Just as some of the lessons learned from Gaza on October 7 can be applied to the West Bank, the reverse is also true: lessons learned over the years fighting terror in Judea and Samaria can be applied in Gaza. For instance, the operation currently underway in northern Samaria is an indication of what the future holds in Gaza.

The 42-day Operation Defensive Shield that began in March of 2002 was a turning point, and Israel did degrade terrorist capabilities. But this was not a one-off deal, with Israel just leaving the territory after the operation.

Rather, it takes continuous work to ensure that the terrorist infrastructure does not reappear, what security officials continuously refer to as “mowing the lawn.” What this predicts is that when the intense fighting stops in Gaza, the continuous war against terrorists – preventing the resurrection of a terrorist infrastructure there – will continue for years, if not decades.

Just look at Judea and Samaria. Twenty-two years after the IDF launched Operation Defensive Shield, it is still “mowing the lawn” there and trying to prevent the re-emergence of a vast terrorist infrastructure. It is endless labor, with no clear finish line. What holds true in Judea and Samaria will certainly be the case in Gaza as well. 

end

Hamas revealed to falsify public opinion polls from Palestinian Survey Research Institute

“These falsified results are designed to portray a misleading image of broad public support for Hamas and its leadership, particularly in the aftermath of the October 7 massacre,” the IDF explained. 

By JERUSALEM POST STAFFAUGUST 29, 2024 20:00

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-817000&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240828_aa58502ae1cec0b423231b3c29f1de933d781cfc&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF uncovered documents revealing a systematic effort by the Hamas terror organization to falsify public opinion polls conducted by the Palestinian Center for Policy and Survey Research (PSR), Israel’s military said on Thursday evening.

The documents were uncovered from Hamas’s General Security Apparatus and obtained during operations in the Gaza Strip. Images released included a comparison of the original and falsified PSR poll results from March 2024, illustrating the extent of the tampering. 

“These falsified results are designed to portray a misleading image of broad public support for Hamas and its leadership, particularly in the aftermath of the October 7 massacre,” the IDF explained. 

According to the findings, the altered survey results were particularly aimed at bolstering the image of senior Hamas leader Yahya Sinwar and creating an illusion of widespread approval for the October 7 attacks and other acts of terror.

Furthermore, the IDF added that the documents had exposed a deliberate strategy by Hamas to mask the organization’s declining public support and to manipulate perceptions both within the Palestinian territories and in the international arena. 

Hamas’s manipulation of PSR

However, the IDF also emphasized that there was no evidence of direct collaboration between Hamas and the Palestinian Center for Policy and Survey Research. Instead, the terror organization manipulated the results through on-the-ground influence.

“These findings underscore the importance Hamas places on public opinion, as it attempts to falsely project widespread support among Gazans,” the IDF added. 

END

(Courtesy Isfran)

Israeli Strike in Gaza Kills Islamic Jihad Intelligence Commander

Senior Figure in Islamic Jihad’s Intelligence Among Dozens of Terrorists Eliminated.

Israeli forces have eliminated Osama Gadallah, a senior commander in the military intelligence of Palestinian Islamic Jihad (PIJ), during ongoing operations in the Gaza Strip, the Israel Defense Forces (IDF) announced on Thursday. Gadallah, who played a significant role in the October 7 attacks, was targeted and killed by Israeli aircraft in Rafah, located in southern Gaza.

In addition to Gadallah, IDF troops killed dozens of terrorists in fierce fighting in Khan Yunis and the outskirts of Deir al-Balah, areas that have seen intense military activity as Israel continues its operations against Hamas and other militant groups in the region. Over the past day, Israeli airstrikes also targeted 40 Hamas positions, including manned firing stations and other critical terrorist infrastructure.

This surge in fighting follows Israel’s successful rescue of 52-year-old hostage Farhan Al Qadi on Tuesday and the recovery of a soldier’s body on Wednesday. These operations are part of Israel’s broader campaign in response to the brutal attacks launched by Hamas on October 7.

The October 7 assault saw at least 1,200 people killed and 252 Israelis and foreigners taken hostage by Hamas in a coordinated attack on Israeli communities near the Gaza border. Of the 103 remaining hostages, more than 30 have been declared dead. In addition, Hamas continues to hold captive two Israeli civilians since 2014 and 2015, as well as the bodies of two soldiers killed in 2014.

As Israel intensifies its military efforts, the situation remains tense, with ongoing operations focused on dismantling the terrorist networks responsible for the violence.

Share this story to stay informed on the latest developments in Israel’s military operations and subscribe to our newsletter for further updates on the conflict.

END

HOUTHIS/ISRAEL/GLOBE

Houthis To Allow Salvage Crews To Access The Oil Tanker They Hit In The Red Sea

THURSDAY, AUG 29, 2024 – 09:10 AM

By Tsvetana Paraskova of OilPrice.com

The Iran-aligned Houthis have agreed to allow salvage crews including rescue ships and tugboats to access an oil tanker that the Houthis hit with a missile in the Red Sea earlier this month.

“Several countries have reached out to ask Ansarullah (the Houthis), requesting a temporary truce for the entry of tugboats and rescue ships into the incident area,” Iran’s mission to the United Nations in New York said, as carried by Reuters.

The Houthi movement has agreed to this request, “in consideration of humanitarian and environmental concerns,” the Iranian mission to the UN added.

Reports last week said a tanker on fire was drifting in the Red Sea. It later emerged that the vessel had come under attack by armed groups traveling on small vessels some 90 miles from the Yemeni port city of Hodeida. The tanker was also reportedly struck by missiles or drones.

“The vessel reports being not under command,” the UK Maritime Trade Operations office said at the time, likely meaning it lost all power. “No casualties reported.”

The Greek-flagged oil tanker, the Sounion, had 25 crew members and was traveling from Iraq to Cyprus. The crew was rescued by a European warship and transported to Djibouti.

Earlier this week, U.S. Pentagon officials said that the Greek tanker that the Yemeni Houthis struck in the Red Sea a week ago is now leaking oil.

“The MV Sounion now sits immobilized in the Red Sea, where it is currently on fire and appears to be leaking oil, presenting both a navigational hazard and a potential environmental catastrophe,” Pentagon Press Secretary Major General Pat Ryder said, as quoted by the Maritime Executive.

The oil tanker holds close to a million barrels of crude oil and if it spills as a result of the strikes, it could become one of the largest oil spills from a vessel in recent history.

END

end

RUSSIA/UKRAINE/

ROBERT H

Game Over? Ukraine Announces Partial Halt to Payments on Its Gargantuan Debt

The big LOSERS come September are Cargill and BlackRock.
Maybe Buffet  knew in order to sell off some of his stock in B of A which owns Merrill Lynch which controls BlackRock

https://sputnikglobe.com/20240828/game-over-ukraine-announces-partial-halt-to-payments-on-its-gargantuan-debt-1119938898.html

Remove label Inbox from this conversation

END

RUSSIA//

END

UKRAINE/RUSSIA/

Robert H

Russia Warns US Will Face ‘Much Harsher’ Consequences for Backing Kursk Invasion

“People are really clueless. Poke the bear once too often and bear will attack with a charge. Do people forget there is dam just north of Kiev that if damaged let alone destroyed would flood Kiev?
Every American in Syria is on borrowed time if things escalate and likely will die there. Underestimated consequences for floating carrier groups is a folly. Does one really not understand that they are shadowed by Russian and Chinese subs? All are within strike zones.
A day may well come that warnings come in the way of physical events.”

https://scheerpost.com/2024/08/28/russia-warns-us-will-face-much-harsher-consequences-for-backing-kursk-invasion/

end

Robert H:

RUSSIA UKRAINE/

Beyond dumb

Well, we didn’t have to wait too long. American troops are in farm fields of Moldova as of today.  As Donbas contact line crumbles, it’s  only matter of time before Russian forces reached the Dneiper river. Likely less than a month. While the killing fields of Kursk brings memories of what the Germans learnt during WWII.
It has for a long time been the plan to head US troop reinforcements to Odessa to stop Russia from taking the city. Once these troops move in Ukraine Russia will ratchet up the conflict.
The US dreams that such a fight will be limited to Europe. They are so wrong! This will no longer be a proxy war. And why new facilities are being built in Europe to sustain a longer ground war.
More than likely some higher level of conflict is coming. And with it will come capital flight from Europe.

END

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

On ivermectin

ROBERT H

“There is much more to this than people know.”

https://open.substack.com/pub/2ndsmartestguyintheworld/p/ivermectin-testimonial-from-uk-aug26?r=184d63&utm_medium=ios

end

ROBERT H

William Makis MD on X: “NEW ARTICLE: IVERMECTIN Tested against 28 types of Cancer – which cancers were most sensitive to Ivermectin? Which were least sensitive? A research group from Mexico investigated Ivermectin in Cancer Paper: 2020 (Juarez et al) – Antitumor effects of ivermectin at clinically https://t.co/xWhgEBa1uv”

“What a surprise !
It is too cheap and endangers the big pharma profits built into the current cancer care mentality. One can understand such an inexpensive solution threatens many billions of profit and many a job.”

https://x.com/MakisMD/status/1828024388580503589

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

In memory of those who “died suddenly” in the United States and worldwide, August 19-26, 2024

Athletes: US (2), Can., Brazil (2), UK (2), Ire., Fr., Sweden (2), Croatia, Port., Spain (2); “vaxxidents”: US (5), Germany (2), Kenya (2), Zimbabwe (2); journos: US (3), Peru, Brazil (3), Aus.; more

Mark Crispin MillerAug 28

READ IN APP

Note: Click on the countries links for this week’s compilations of those who “died suddenly” (the individual Substacks are too long to email).

United States

Canada

Mexico, Barbados, Dominican Republic, Colombia, Peru, Bolivia, Guyana, Brazil, Uruguay and Argentina

Brazil:

United Kingdom and Ireland

France, Belgium, Holland, Germany, Switzerland, Sweden, Denmark, Poland, Serbia, Croatia, Portugal and Spain

Germany:

News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Upgrade to paid

Italy

Ghana, Nigeria, Kenya, Tanzania, Zimbabwe, S. Africa, Syria, India, Bangladesh, Sri Lanka, Singapore, Japan, Philippines, Australia and NZ

Ghana:

Kenya:

India:

Bangladesh:

33 nurses “died suddenly”:

Alyssa Lynn DeLong, 34

August 26, 2024

Advance, North Carolina – Ms. Alyssa Lynn DeLong, 34, passed away unexpectedly on Thursday, August 22, 2024.   Alyssa graduated from Winston-Salem State University with a BA degree in Nursing. She worked for Atrium Wake Forest Baptist Health as a nurse. 

No cause of death reported.

Link

Stephanie Lord, 57

August 26, 2024

Warner Robins, Georgia – Stephanie Lord, 57, passed away on Sunday August 25, 2024 at her home in Warner Robins.  After serving in the Air Force as an aircraft maintenance technician, Stephanie worked as a registered nurse for many years. She attended Holy Cross Greek Orthodox Church. She loved her church family very much. She will be missed dearly by her family and her church.

No cause of death reported.

Link

Kelly Renee Windhorst Smith, 55

August 26, 2024

Shelbyville, Indiana – Kelly was a lifelong nurse who graduated from Indiana University with a BSN in 1992. She followed her loved for nursing to Riley Hospital and later after moving to Shelbyville, she soon followed her long career to Major Hospital.

No cause of death reported.

Link

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

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Cathy J. Squires, R.N., 64

August 26, 2024

Pelham, New Hampshire – Cathy J. Squires, R.N., 64, of Lowell, Massachusetts, passed away on Saturday August 10, 2024, at home.  she attended Arizona State, and she graduated from UMass Lowell with a degree in nursing. Prior to her retirement, Cathy worked as a registered nurse at Newton Wellesley Hospital in Newton, MA. Friends and family may make contributions in her memory to The Huntington’s Disease Society of America.

No cause of death reported.

Link

Cynthia Darlene Allen, 64

August 24, 2024

Durham, North Carolina – Cynthia attended Durham Public schools and was a 1978 graduate of Northern High School. She went on to receive a degree in Nursing at Durham Technical Community College. Cynthia dedicated her life to healthcare and spent many years working as a nurse in rehabilitation facilities.

No cause of death reported.

Link

Joyce M. D’Andrea, 63

August 24, 2024

Cary, IL – Joyce M. D’Andrea, 63, of Cary, passed away peacefully on Monday, August 19, 2024. A graduate of the Rockford Memorial School of Nursing, Joyce spent 30 years as a dedicated nurse, providing care and comfort to countless patients. Her commitment to helping others extended into her volunteer work with P.A.D.S. and her role as a C.C.D. teacher at Saints Peter and Paul Catholic Church. In lieu of flowers, the family kindly requests that memorial contributions be made in Joyce’s honor to the Alzheimer’s Association or the Mayo Clinic.

No cause of death reported.

Link

Emmy Marie Mayville, 48

August 24, 2024

Emmy Marie Mayville passed away suddenly, August 19, 2024, Knoxville, TN. Emmy earned her certification as a Clinical Medical Assistant at the University of Tennessee (2013). After gaining valuable experience, Emmy went on to study nursing at Walter State Community College (Morristown, TN); she graduated with an Associate of Applied Science, Nursing (December 2023). She was listed on the President’s List and was a member of Phi Theta Kappa Honors Society. Once Emmy passed the state license exam, she became employed by the University of Tennessee Medical Center, working as a Staff Nurse on the cardiothoracic floor. Shortly after, Emmy became employed by Endocrinology Consultants of East Tennessee.

No cause of death reported.

Link

Stephanie Plaice, 33

August 24, 2024

Topeka, KS – Stephanie graduated from Mission Valley High School in 2009 and went on to become a nurse. The title that she cherished most was Mom to her triplets, Moorley, Eisley and Jude.

No cause of death reported.

Link

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Christine L. Miller, 64

August 24, 2024

Holland Pantent, NY – Christine L. Miller, age 64, of Holland Patent, passed away August 21, 2024, at home after a brief illness. She graduated from Holland Patent Central School and the St. Elizabeth Hospital School of Nursing. Christine worked for many years at St. Luke’s Hospital, and recently as the evening nursing supervisor at the Masonic Care Center.

No cause of death reported.

Link

Deborah Lynn Brown, 60

August 23, 2024

Deborah Lynn Brown, born on January 7, 1964, in Tucson, Arizona, passed away peacefully in her hometown on August 21, 2024. Throughout her career, Deborah worked as a nurse in nursing homes and as a phlebotomist. Her professional dedication reflected her nurturing spirit, as she always strived to provide the best care possible to those in need.

No cause of death reported.

Link

Suzanne Marie Patrick Burch, 73

August 23, 2024

Tucson, AZ – Suzanne Marie Patrick Burch passed away on Friday, Aug. 9, 2024, at her home in San Antonio, Texas, after a brief illness. She was 73 years old. “Suzy” was surrounded by her loving family at the time of her passing.  Suzy attended Brunswick College and received her degree in nursing. Suzanne would practice healthcare as a registered nurse for the next 40 years. While living in Brunswick and on St. Simons Island, she worked in the SICU at Brunswick Hospital.

No cause of death reported.

Link

Linda Ann (Heffernan) Cadan, 67

August 23, 2024

Norwalk, Connecticut – Linda Ann (Heffernan) Cadan, 67, passed away on August 18, 2024, in Norwalk, Connecticut. She went on to study at the University of Bridgeport School of Nursing, where she graduated with an Associate’s Degree and began her career as a Registered Nurse (RN). As an RN, Linda supported patients across the country, spending time in intensive care units in Massachusetts, Florida, California and Nevada, and ultimately, across the state of Connecticut, including at St. Raphael, Yale New Haven and Greenwich Hospital. Among her patients, Linda was renowned for her compassion, empathy, and sense of humor.

No cause of death reported.

Link

Cynthia M. Greenfield, 62

August 23, 2024

She died Saturday, August 17, 2024 at Northwest Community Hospital, in Arlington Heights, Illinois. After graduating from the Loyola School of Nursing, Mrs. Greenfield worked as a Registered Nurse for over 41 years. Most recently she was employed with Luther Village as a resource nurse. In lieu of flowers, memorials may be given to American Brain Tumor Association.

No cause of death reported.

Link

Amy Lee Caldwell Johnson, 52

August 23, 2024

Russellville, Arkansas – Amy Lee Caldwell Johnson passed away Tuesday, August 20, 2024, at her home.  Amy was a daughter, sister, wife, mother, aunt, grandmother and a nurse, all of which she did with all her heart.

No cause of death reported.

Link

Mandy Kaye Saulters, 64

August 23, 2024

Springfield, MO – Kaye Saulters, 64, of Springfield, MO, passed away peacefully on March 14, 2024, with her family by her side.  Mandy was a registered nurse for 45 years with many different degrees in nursing and education.  Mandy was loved by many and will be truly missed.

No cause of death reported.

Link

Lori Lee Rayl Van Cleave, 52

August 23, 2024

Littleton, CO – Lori Lee Rayl Van Cleave, a devoted daughter, loving mother, cherished wife, and loyal friend, passed away peacefully on August 20, 2024, at the age of 52. Lori was in the nursing field for over 30 years. She started her career as an LPN and one of her proudest moments was going back to school and passing boards to obtain her Registered Nurse License. She worked in many areas of nursing and her most recent role was as a District Nurse for Jeffco Public Schools. Lori had a compassion for caregiving, and she cherished each of her patients.

No cause of death reported.

DR PAUL ALEXANDER

SLAY NEWS

The latest reports from Slay News

Major Study Confirms Covid Shots Trigger Sudden Heart DeathsA major new study has confirmed that Pfizer’s Covid mRNA shot acts as a trigger that causes sudden cardiovascular-related deaths.READ MORE

27-Year-Old Soccer Star Dead after Sudden Collapse Mid-GameUruguayan soccer star Juan Izquierdo has tragically died after collapsing suddenly on the field mid-game.READ MORE

Massachusetts Caught ‘Secretly’ Spending $1 Billion in Taxpayer Money on Illegal Aliens, Republicans Demand AnswersRepublicans are demanding answers after Massachusetts’ Democrat leadership has been caught “secretly” spending almost $1 billion in taxpayer money on caring for illegal aliens.READ MORE

Dan Bongino Slams Secret Service over Trump Assassination Attempt: ‘Disgusting!’Dan Bongino has slammed the U.S. Secret Service over the federal agency’s “apocalyptic security failure” that led to the assassination attempt against President Donald Trump last month.READ MORE

Alvin Bragg’s Conviction of Trump in Jeopardy, Legal Expert WarnsPresident Donald Trump’s politically motivated “hush money” conviction in New York is in jeopardy after the Supreme Court’s bombshell immunity ruling, according to a legal expert.READ MORE

Wisconsin Supreme Court Deals Blow to Democrats, Confirms Jill Stein Will Appear on BallotsIn a pivotal legal decision, the Wisconsin Supreme Court has just dealt a significant blow to Democrats ahead of the November election.READ MORE

Arizona Judge Sets 2026 Trial Date for 18 Trump Allies Accused of Attempting to Overturn 2020 ElectionAn Arizona judge set a 2026 trial date for 18 defendants connected to President Donald Trump, including Rudy Giuliani and Mark Meadows.READ MORE

Florida State Attorney Warns Delay in Trump Prosecution Allows Jack Smith to ‘Hide His Cards’ from Defense TeamFlorida State Attorney Dave Aronberg has warned that Special Counsel Jack Smith’s willingness to delay the prosecution of President Donald Trump is strategic.READ MORE

Michigan Democrats Block RFK Jr’s Removal from State’s 2024 BallotDemocrat officials in Michigan have rejected a request from independent presidential candidate Robert F. Kennedy Jr. to remove his name from the key battleground state’s 2024 ballot.READ MORE

Don Lemon Stunned That Black Voters Support Trump: ‘They Don’t Understand’Former CNN anchor Don Lemon has revealed that he is stunned that black people are supporting President Donald Trump.READ MORE

Tulsi Gabbard & RFK Jr Named ‘Honorary Co-Chairs’ of Trump’s Presidential Transition TeamPresident Donald Trump has added independent presidential candidate Robert F. Kennedy Jr. and former Democrat Rep. Tulsi Gabbard (D-HI) to his 2024 presidential transition team.READ MORE

Kamala Harris Using Race and Gender to Select Reporter for First Major InterviewWhile fighting for equality in America, civil rights leader Martin Luther King, Jr. delivered a powerful speech from the steps of the Lincoln Memorial in Washington D.C. on August 28, 1963, where he laid out his “dream” for the future.READ MORE

Two Dead after Boeing Passenger Plane’s Tire Explodes at Georgia AirportTwo people have been killed and another seriously injured after a Boeing passenger plane’s tire exploded at Hartsfield-Jackson Atlanta International Airport in Georgia.READ MORE

EVOL NEWS

ATEST NEWS:

WEF Threatens to Unleash ‘Global Chaos’ to Usher In ‘Great Reset’ – EVOL Read more. ..EXCLUSIVE: Tim Walz Has A History Of Rubbing Elbows With Nonprofit Linked To Chinese Intel And Influence Agency – EVOL Read more. . .Gaza Protesters at DNC: ‘Reproductive justice means Palestinian liberation’ – EVOL Read more.. .JUST IN: President Trump announces he is selling portions of the suit he wore during the debate with Joe Biden, labeling it ‘The Knockout Suit’ – EVOL Read more. ..Arizona Voters Air Fraud Concerns At Fortified Election Center – EVOL Read more… GOP sues Detroit over hiring 7 times more Democratic poll workers than Republican – EVOL Read more.. .Trash overwhelms Havana as garbage trucks lack parts, fuel – EVOL Read more.. .NEW: Ohio Notches Major Election Integrity Win, Identifies Scores Of Illegal Voters – EVOL Read more…

NEWS ADDICTS

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

Turmoil in Libya has they argue as to who controls the central bank of Libya

(zerohedge)

Oil Jumps As Libyan Oil Shutdown Deepens With Loading Halt At Five Main Terminals

Thursday, Aug 29, 2024 – 12:08 PM

The daily oil rollercoaster continues, and one week after tumbling to the lowest price of the year, oil is once again spiking, as news of more Libyan oil turmoil emerge. 

Brent rose as much as 3% and briefly topped $80, after Libya suspended oil exports from five eastern ports, and the country’s output dipped further amid an escalating stalemate over who controls the central bank.

The eastern-based government ordered the halt of oil-loading operations at the ports of Brega, Es Sider, Ras Lanuf, Zueitina and Hariga, Bloomberg reported citing people familiar with the matter.

The terminals have a combined capacity of around 800,000 barrels a day, which means almost all of Libyan output remains landlocked. Libya, an OPEC member, is divided between eastern and western rival governments following a power struggle that has persisted for about a decade.

Libya, which pumps about 1.2 million bpd of oil, was plunged into a deeper political crisis earlier this month over a row about the leadership of the Central Bank of Libya, the only internationally recognized depository of the country’s oil revenues.

The Benghazi-based government in eastern Libya, which is a rival to the Tripoli-based government in the politically divided North African OPEC producer, said on Monday it would shut down all crude oil output and exports. The east-based government backed by military leader Khalifa Haftar is not internationally recognized, but Haftar and his people control most of the country’s oilfields.

Over the past weeks, the situation in Libya has deteriorated with the east-west rivalry flaring up again and centered on the leadership of the Central Bank of Libya—the guardian of Libya’s wealth and income from oil exports.

The internationally recognized government in the capital city in the west, Tripoli, is trying to replace Sadiq Al-Kabir, the governor of the Central Bank of Libya. This has led to the latest controversy between the eastern and western governments and political factions, threatening again to reduce Libya’s oil production and exports.

Additional support for prices today came from continued expectations of an interest rate cut in the United States next month. The positive movement is unstable, however, and we may see a reversal later in the day under the weight of bearish factors.

On the bearish side, Biden’s EIA (which according to some is even more politicized than the BLS) reported only a modest draw in oil inventories yesterday, at less than 1 million barrels. Even though this was the second weekly draw in a row, it appeared to not have impressed the market much. Demand for oil remained a concern.

“Libyan output has dropped this week by close to 500k b/d, and this is not taking into account the shutting down of the Sharara oilfield earlier this month,” ING commodity analysts Warren Patterson and Ewa Manthey said in a note. “A prolonged shutdown from Libya will give OPEC+ a bit more comfort in increasing supply in 4Q24 as currently planned.”

The analysts noted that the Libyan outage will make OPEC+’s decision on whether to bring back some production more difficult and said they expected the cartel to resist that temptation and avoid a price rout.

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

CANADA

Downtown Toronto office vacancies exceed suburban areas for the first time

ROBERT H:

“And you wonder why condo’s are crashing in value? There is no need for a condo where jobs do not exist. And with no jobs restaurants and retail get devastated. A North American trend it seems.”

https://www.housing-trends.com/agent-news/drita-bruci/158804-Downtown%20Toronto%20office%20vacancies%20exceed%20suburban%20areas%20for%20the%20first%20time

end

Brazil/Elon Musk

Brazil’s Darth Vader (Supreme Court Judge) strikes again

Brazil’s ‘Darth Vader’ Blocks Starlink Bank Accounts As War With Elon Musk Escalates

Thursday, Aug 29, 2024 – 01:10 PM

One day after Brazillian Supreme Court Judge Alexandre de Moraes threatened to suspend social media platform X unless Elon Musk appoints a new legal representative in 24 hours, the judge – dubbed “Brazil’s Darth Vader” by Musk – issued a subpoena against the company.

Today, he blocked the financial accounts of Musk-owned Starlink Holdings, due to the absence of an attorney.

Exactly https://t.co/a09umuAXEO

— Elon Musk (@elonmusk) August 29, 2024

According to Moraes, the companies are a “de facto economic group” commanded by Musk.

x.com/elonmusk/status/1829200187560210547

On August 18, Moraes sanctioned X’s bank accounts in order to guarantee the payment of fines imposed by the Brazilian justice for refusing to censor content, Metropoles reports.

According to information published by the G1 and confirmed by the Metropolis, advisors to the office of Minister Alexandre de Moraes said that another company under Musk in the country, Starlink Holding, responsible for the sale of satellite internet services, also had the finances blocked.

All Starlink managers in Brazil received notifications and were subpoenaed to answer for the values due to the Brazilian Justice by the network X. -Metropoles (translated)

In response, Musk called Moraes a dictator, and said “this picture of you in prison will be real. Mark my words.”

BREAKING: Alexandre de Moraes blocks financial accounts of Starlink in Brazil.

All Starlink managers in Brazil have been notified and summoned to address the amounts owed to Brazilian courts by the 𝕏, as per Metrópoles. pic.twitter.com/89nIMDH7Lk

— DogeDesigner (@cb_doge) August 29, 2024

Earlier this month, Moraes ordered an investigation into Musk after the billionaire vowed to defy a court order as part of an ongoing probe into social media accounts allegedly spreading misinformation and ‘hate’ speech.

“The flagrant conduct of obstruction of Brazilian justice, incitement of crime, the public threat of disobedience of court orders and future lack of cooperation from the platform are facts that disrespect the sovereignty of Brazil,” wrote de Moraes.

While X initially said in a they would comply, blocking certain popular accounts in Brazil – Musk said an hour later, after the release of the “TWITTER FILES BRAZIL,” that they would not, noting that “As a result, we will probably lose all revenue in Brazil and have to shut down our office there.”

BRAZIL IS ON THE BRINK

I’m reporting to you from Brazil, where a dramatic series of events are underway.

At 5:52 pm Eastern Time, today, April 6, 2024, X corporation, formerly known as Twitter, announced that a Brazilian court had forced it to “block certain popular accounts in… pic.twitter.com/GjdAgmkCBo

— Michael Shellenberger (@shellenberger) April 7, 2024

in a post the next day, Musk said that Supreme Court Justice Alexandre de Moraes had “brazenly and repeatedly betrayed the constitution and people of Brazil,” and should “resign or be impeached.”

De Moraes said that as part of his decision to open an inquiry, that “X shall refrain from disobeying any court order already issued, including performing any profile reactivation that has been blocked by this Supreme Court,” Reuters reports.

The justice said that Musk would face a fine that equates to approximately $20,000 each time an account is reactivated on X.

Alexandre de Voldemort 🇧🇷

pic.twitter.com/Y4N8DCbzcF

— DogeDesigner (@cb_doge) August 29, 2024

END

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

EURO VS USA DOLLAR:  1.1098 DOWN 0.0026

USA/ YEN 144.53 UP 0.094 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 1.3195 UP 0.0002

USA/CAN DOLLAR:  1.3457 DOWN 20 (CDN DOLLAR UP 20 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWN 14.32 PTS OR 0.50%

 Hang Seng CLOSED UP 93.87 PTS OR 0.53%

AUSTRALIA CLOSED DOWN .33%

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 93.87 PTS OR 0.53 %

/SHANGHAI CLOSED DOWN 14.32 PTS OR 0.50%

AUSTRALIA BOURSE CLOSED DOWN 0.33%

(Nikkei (Japan) CLOSED DOWN 9.23 PTS OR 0.02%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2521.90

silver:$29.53

USA dollar index early THURSDAY  morning: 101.12 UP 14 BASIS POINTS FROM WEDNESDAY’s CLOSE.

THURSDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  THURSDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.869%  UP 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.893% DOWN 0 AND 6/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.093 UP 1 in basis points yield

ITALIAN 10 YR BOND YIELD 3.652 UP 1 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.2700 UP 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR THURSDAY  

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

Euro/USA 1.1084 DOWN .0040 OR 40 basis points

USA/Japan: 145.33 UP 0.887 OR YEN IS DOWN 89 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE

Great Britain 10 YR RATE 4.0500 UP 2 BASIS POINTS //

Canadian dollar DOWN .0005 OR 5 BASIS pts  to 1.3482

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP AT 7.0966 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.0932)

TURKISH LIRA:  34,08 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.893

Your closing 10 yr US bond yield UP 3 in basis points from TUESDAY at  3.877% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.163 UP 3 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.894 UP 3 BASIS PTS.

GOLD AT 11;00 AM 2516.40

SILVER AT 11;00: 29.43

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

London: CLOSED UP 35.79 PTS OR .43%

German Dax :  CLOSED UP 130.28 PTS OR 0.69%

Paris CAC CLOSED UP 63.28 PTS OR 0.84%

Spain IBEX CLOSED UP 26.60 OR 0.22%

Italian MIB: CLOSED UP 312.01 OR 0.92

WTI Oil price  76.34 12EST/

Brent Oil:  80.63 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91,75 ROUBLE DOWN 0 AND  25/100      

GERMAN 10 YR BOND YIELD; +2.2700 UP 2 BASIS PTS.

UK 10 YR YIELD: 4.0500 UP 2 BASIS POINTS

CDN 10 YEAR RATE: 3.152 UP 6 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1081 DOWN 0.0044   OR 44 BASIS POINTS

British Pound: 1.3173 DOWN 0.0020 OR 20 basis pts

BRITISH 10 YR GILT BOND YIELD:  4.0210 UP 2 BASIS PTS//

JAPAN 10 YR YIELD: 0.895

USA dollar vs Japanese Yen: 144.84 UP 0.404 YEN DOWN 41 BASIS PTS//

USA dollar vs Canadian dollar: 1.3477 UP 0.0005//CDN dollar DOWN 5 BASIS PTS

West Texas intermediate oil: 76.03

Brent OIL:  80.02

USA 10 yr bond yield UP 3 BASIS pts to 3.870

USA 30 yr bond yield UP 2 BASIS PTS to 4.154%

USA 2 YR BOND: UP 3 PTS AT  3.896

CDN 10 YR RATE 3.149 UP 4 BASIS PTS

USA dollar index: 101.27 UP 28 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.07 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  92.01 DOWN 0  AND  51/100 roubles

GOLD  2,523.00 3:30 PM

SILVER: 29.42 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 243.96 PTS OR 0.59%

NASDAQ DOWN 39.60 PTS OR .23 %

VOLATILITY INDEX: 15.84 DOWN 1.27 PTS OR 7.48%

GLD: $232.94 UP 1.19 OR 0.51%

SLV/ $26.81 UP 0.12 OR 0.45%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Nvidia Dumps, Gold Pumps As Dollar General Craters Most On Record

Thursday, Aug 29, 2024 – 04:04 PM

It was all about Nvidia’s earnings, and how the market would react to them, and… well, it left a bit to be desired.

After initially spiking as high as $128 on blowout Q2 earnings, NVDA then dumped instantly as the market was disappointed with the company’s Q3 guidance, before staging a modest rebound into the Thursday premarket, only to see the gains then fade, and slide more than 6%, and wiping out $200 billion in market cap.

Still, the move was not as big as the option straddle suggested – market was pricing in a 10% swing – so both calls and puts saw their value tumble as vol repriced dramatically lower.

While NVDA failed to reverse losses, the same can not be said for the Nasdaq which after tumbling almost 1.5% overnight, scrambled to rebound and even turned briefly green at one point, before it too also reversed and stumbled lower, dragging spoos with it. In fact, the only index that did well today was the Russell, because now that earnings season is officially over, all focus turns back to the Fed and the looming rate cut in September which will benefit heavily debt-laden small caps more than all other companies.

While there was no specific catalyst for this afternoon’s swoon, one possible reason behind the move was a slamdown of bitcoin (really Solana) at exactly 2pm ET, which then quickly dragged down the Nasdaq and the rest of the risk complex.

While stocks swung at the whims of crypto HFT market makers such as Jane Street, oil managed yet another rebound and after hitting YTD lows just a few days ago, Brent once again rebounded back over $80, on growing concerns about Libyan production.

The oil recovery naturally meant that yields would have a tough day staying down, and sure enough the 10Y hit a one week high rising just shy of 3.90%, having broken out of a triangle formation to the upside, and clearing the path for higher highs (today’s poor 7Y auction certainly helped push yields higher)…

… especially after today’s unadujsted initial claims hit a new 2024 low, assuring that next week’s jobs report will come in well hotter than expected, as last week’s near record negative jobs revision was the big reset the BLS needed to “come clean”, allowing the agency to once again resume cooking the books heading into the election.

And let’s not forget today’s much hotter than expected GDP print, which came in at 3%, and was entirely on the back of a spike in personal spending…

…. which of course is a joke when one considers the record implosion in ultra discount retailer Dollar General – which now caters to not just the lower class but also a substantial portion of the “middle class” – which suffered its biggest market cap drop on record, and sent its stock price to 6 year low!

The above chart of course reeks of massive fiscal or monetary looming stimulus, whether it is under president Kamala or Trump, something which gold is clearly sniffing out as it hits another record high, and stronly suggests that real rates should be about 4.5% lower, at -3.0%!

TL/DR: the countdown to the next stimmy has begun.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

compromised data

(zerohedge)

Initial Jobless Claims Drop Again As Labor Market Sends Mixed Signals

THURSDAY, AUG 29, 2024 – 08:42 AM

Initial jobless claims continue to drift along in the same range it has been in for three years, with unadjusted claims literally near record lows, just in time for the Fed to cut rates following the recent near-record revision to payrolls. Almost as if one hand of the Dept of Labor (initial claims reports) is unaware of what the other hand (Payrolls and especially revisions) is doing.

Broken down by region, the bulk of initial claims (unadjusted) was in the West, followed by the South and Northeast.

The decline in SA and NSA claims appears driven by the normalization of Texas claim post-Beryl…

The weekly change in claims, broken down by state, shows no notable outliers this week.

But we note that continuing jobless claims remains at its highest since Nov 2021…

With all the attention piled on to initial claims to support bullish-narrative-supporting thesis, how the hell can The Fed then turn around and cut rates to ‘save the labor market’ before it’s too late?

end

lousy data/pay no attention

Q2 GDP Unexpectedly Revised Higher On Bizarre Surge In Personal Consumption

THURSDAY, AUG 29, 2024 – 09:28 AM

Just two hours after (ultra) discount retailer Dollar General reported catastrophic earnings, moments ago the Biden Bureau of Economic analysis decided to pull a BLS, and reported in its first revision of Q2 GDP that the US actually grew much stronger than expected on the back of – drumroll – an unexpected surge in personal consumption.

According to the BEA, Q2 GDP was revised to 3.0% from the 2.8% advance estimate, and beat estimates of a 2.8% print.

The number was more than double the 1.4%  growth reported in Q1, and was driven almost entirely by a bizarro surge in personal consumption, which jumped 2.9%, up from 2.3% in the first estimate, and smashed consensus estimates of a 2.2% print.

That’s right: just moments after Dollar General nuked its outlook, blaming a “financially constrained core consumer”, which in this day and age is pretty much any one in what was once the US middle class, the BEA reported that Personal Consumption was a six-sigma beat to expectations!

Looking at the breakdown of GDP components, the BEA reports that the increase in the second quarter primarily reflected increases in consumer spending, private inventory investment, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.

• The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors to the increase were health care, housing and utilities, and recreation services. Within goods, the leading contributors to the increase were gasoline and other energy goods, furnishings and durable household equipment, and recreational goods and vehicles.
• The increase in inventory investment was led by increases in retail trade and wholesale trade industries that were partly offset by a decrease in mining, utilities, and construction industries.
• The increase in business investment reflected increases in equipment and intellectual property products that were partly offset by a decrease in structures.

Compared to the first quarter, the acceleration in real GDP in the second quarter primarily reflected an upturn in inventory investment and an acceleration in consumer spending. These movements were partly offset by a downturn in housing investment.

Taking a closer look at the various segments we find that aside from personal spending, every other GDP component was revised lower.

• Personal consumption contributed 1.95% to the bottom line GDP, up from 1.57% in the first estimate.
• Fixed Investment was revised modestly lower, to 0.64% in the second revision from 0.53% a month ago.
• The Change in private inventories was also revised modestly lower, from 0.82% to 0.78%.
• Net trade also ended up detracting more from the bottom line print, with exports less imports reducing GDP by -0.77%, a modest deterioration from -0.71% originally reported.
• Finally, the contribution from government was also revised lower, to 0.46% from 0.53%

And visually

While it is far less relevant now, the BEA also reported that in Q2, prices actually rose more than expected, up 2.5%, vs estimates of 2.3%, and down from 3.4% in Q1. Core PCE dipped slightly from the 2.9% reported initially, to 2.8%, and also down from 3.7% in Q1.

In light of the unexpectedly strong spending data, and following up on the continued decline in initial claims reported earlier, one can kiss a 50bps September rate cut goodbye. Commenting on the numbers, UBS trader Simon Penn writes that while the market is pricing 100bp of cuts in the remaining three FOMC meetings of 2024, the economy probably only needs 50bp to recalibrate policy to the appropriate stance, and that “the Fed is likely to deliver 75bp to avoid causing a market upset and to ensure it stays ahead of the growth curve.”

Penn also says that while the upward revision to Q2 GDP might be somewhat rearview but back in June, the FOMC said the economy was sufficiently robust to switch the dot plot from 75bp of cuts to 25bp. Chair Powell noted at the time it was an incredibly fine decision and could have easily been 50bp of cuts. Since then the economy has slowed, but no more than the Fed had been expecting – and as pointed out by UBS chief US economist Jonathan Pingle, employment growth is likely just on the top side of the Fed’s forecasts.

Bottom line from UBS is that “yes, the US economy has slowed, but not to the extent the Fed should be very worried. It seems likely the Fed will cut too much this year (members like Bostic are talking about this concern) but that will mean less cuts next year. Yields should be higher and the curve should be bear steepening.”2,2016

end

this says a lot:

“A Sales Recovery Did Not Occur”: Pending Home Sales Crash To Record Low

THURSDAY, AUG 29, 2024 – 10:15 AM

After tumbling in April, and rebounding modestly in June, analysts expected a continued gain in pending home sales in July, but it wasn’t meant to be: moments ago the NAR reported that in July, Pending Home Sales tumbled 5.5% MoM, a huge miss to the 0.2% expected gain (and down from a 4.8% increase in June), and also slumped 4.6% YoY, a modest improvement from the 7.8% plunged in June but also missing expectations of a -2.0% drop.

That dragged the Pending home sales index to 70.2%, a fresh record low.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

“A sales recovery did not occur in midsummer. The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. presidential election,” NAR Chief Economist Lawrence Yun said in a statement.

Sales decreased in all four US regions, especially in the Midwest and South. The Northeast registered the smallest decline last month, and Yun noted the New England region has performed better than others recently.

• The Northeast PHSI waned 1.4% from last month to 64.6, an increase of 2.4% from July 2023. The Midwest index reduced 7.8% to 67.8 in July, down 11.4% from one year ago.
• The South PHSI sank 6.5% to 83.5 in July, falling 11.5% from the prior year. The West index shrunk 3.8% in July to 56.2, down 6.0% from July 2023.

“In terms of home sales and prices, the New England region has performed relatively better than other regions in recent months,” added Yun. “Current lower, falling mortgage rates will no doubt bring buyers into market” said the NAR chief economist, although we have yet to actually see modestly lower mortgage rates translate into more buying.

The previously owned home market has been hamstrung by high borrowing costs and collapsing inventory for nearly two years. While mortgage rates have declined this month to the lowest in over a year, high prices and limited inventory are deterring prospective buyers who might still be holding out for cheaper rates.

The rate on a 30-year fixed mortgage is now below 6.5% in the wake of recent comments from Jerome Powell, who said last week “the time has come” for the central bank to cut interest rates.

Lower borrowing costs would help ease one the least affordable housing markets in history. An index of US home prices by S&P CoreLogic Case-Shiller hit a fresh record on Tuesday, with prices up 5.4% in the year through June.

III  USA ECONOMIC COMMENTARIES

Dollar General shares crash after huge earnings miss. Certainly tells the shape of the consumer

(zerohedge)

Dollar General Shares Crash After Earnings Miss & Outlook Slashed On “Financially Constrained Core Consumer” 

THURSDAY, AUG 29, 2024 – 08:20 AM

Shares of Dollar General Corp. crashed 23.5% to hit levels not seen since 2018 in premarket trading in New York following a disappointing second-quarter earnings report. The nation’s largest discount retailer missed Wall Street’s profit and sales expectations and slashed its full-year forecast. The retailer warned that its core customers “feel financially constrained.” 

The discount retailer, which has nearly 19,000 locations in 48 states and 8,000 cities, reported adjusted earnings per share of $1.70 for the second quarter, missing the average estimate of analysts tracked by Bloomberg of $1.79. Revenue came in at $10.21 billion, below estimates of $10.37 billion, but still up 4.2% year-over-year. Same-store sales rose .5%, missing the 2.07% estimate. 

Here’s a snapshot of second-quarter earnings (courtesy of Bloomberg): 

• EPS $1.70 vs. $2.13 y/y, estimate $1.79
• Net sales $10.21 billion, +4.2% y/y, estimate $10.37 billion
• Comparable sales +0.5% vs. -0.1% y/y, estimate +2.07%
• Gross margin 30% vs. 31.1% y/y, estimate 30.3%
• SG&A as percentage of revenue 24.6% vs. 24% y/y, estimate 24.4%
• Operating profit $550.0 million, -21% y/y, estimate $587.5 million

DG lowered its full-year outlook for sales and profit. The company slashed its guidance ranges for EPS to $5.50 to $6.20 from $6.80 to $7.55 and for same-store sales growth to 1% to 1.6% from 2% to 2.7%. Bloomberg consensus was around 2.47%.

More color on the full-year outlook (courtesy of Bloomberg): 

• Sees comparable sales +1% to +1.6%, saw +2% to +2.7%, estimate +2.47% (Bloomberg Consensus)
• Sees EPS $5.50 to $6.20, saw about $6.80 to $7.55, estimate $7.11
• Sees net sales +4.7% to +5.3%, saw +6% to +6.7%
• Sees effective tax rate 23%, saw 22.5% to 23.5%
• Still sees capital expenditure $1.3 billion to $1.4 billion, estimate $1.39 billion

CEO Todd Vasos acknowledged consumers are being pressured in today’s environment of elevated inflation and high interest rates: 

“While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control. With the evolving retail and consumer landscape in mind, we are taking decisive action to further enhance our value and convenience offering, as well as the in-store experience for our associates and customers.”

Shares crashed 23.5% in premarket trading to the midpoint of the $94 handle, the lowest level since early 2018. 

For analysts at consumer desks, DG’s nearly 19,000 stores across the US offer valuable insight into the financial health of low- to mid-tier consumers. 

DG’s dismal report reminds us that the consumer downturn theme is still in play and should worsen in the months ahead. Hence, the Fed’s interest rate-cutting cycle may begin as early as Sept. 18. The Fed rarely cuts into good times. The Biden-Harris team’s disastrous Bidenomics policies have financially crushed an entire generation of consumers. 

end

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

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

SWAMP STORIES

Democrats Trying To Censor AI Created Memes Before Election

Thursday, Aug 29, 2024 – 07:45 AM

Authored by Steve Watson via modernity.news,

Ahead of the election in November, Democrats in the House are attempting to have the FEC issue rules to enable censorship of images created specifically by the Grok, the AI developed by Elon Musk’s X.

In other words, they want to eradicate memes they don’t like.

Democratic House Members are now pressuring the FEC to issue new rules to censor @elonmusk's new Grok-2 AI art generator before the election.

Let me be clear: the First Amendment is not optional. I'll never support shutting down political speech online, including your memes. pic.twitter.com/0SnmkjijRk

— Sean Cooksey (@SeanJCooksey) August 27, 2024

In a statement, Democrats in Congress claimed “It is critical for our democracy that this be promptly addressed, noting the degree to which Grok-2 has already been used to distribute fake content regarding the 2024 presidential election.”

“This election cycle, we have seen candidates use Artificial Intelligence (AI) in campaign ads to depict themselves or another candidate engaged in an action that did not happen or saying something the depicted candidate did not say,” they further claim.

This may be a reference to a ‘Kamala Harris’ video shared by Musk.

In response, California Democrat Gavin Newsom vowed to introduce a law to limit such AI creations, prompting Musk to respond that parody is and should remain legal in America.

JUST IN: Elon Musk tells CA Governor Gavin Newsom to "Suggon Deeznutz" after Newsom threatened to change the law to make AI “ad” voices illegal.

Newsom was upset over a parody video (below) that Musk shared on X.

"Manipulating a voice in an “ad” like this one should be illegal.… pic.twitter.com/19MYrk21rr

— Collin Rugg (@CollinRugg) July 29, 2024

Such videos and memes are obviously meant to be satirical.

https://x.com/SeanJCooksey/status/1828472171917627729

As RFK Jr. noted last week, Democrats have become the party of censorship.

What these House Democrats are calling for is literally tyranny. https://t.co/EyJB12Xe0v

— Mike Lee (@BasedMikeLee) August 27, 2024

What are they afraid of?

They're afraid of mean memes 😂🤣😂🤣🍿

— S.A.Conner (@PaulaRevere111) August 27, 2024

Grok users had a field day with this.

I used Grok to draw a picture of House Democrats writing a bill to censor online speech pic.twitter.com/hW68cmDXp5

— TheRazorPigKid (@TheRazorPigKid) August 27, 2024

Only their propaganda is acceptable to disseminate.

X.com/TruthorConseq12/status/1828512517339128113

They’re panicking.

They want a Ministry of Truth because they can’t meme.

\

What could possibly go wrong with outright censorship of humour?

What comes next?

The camel is trying to stick his nose in the tent.
Incrementalism is the path they always take.
They'll start here, and they must be stopped. No compromise.

— tiredofthecrap789 (@tiredofthe63251) August 27, 2024

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

END

NEW YORK

48% Of NYC Bus Riders Don’t Pay Fares

Thursday, Aug 29, 2024 – 06:55 AM

As New York City and the MTA devises their next plan to tax or hike prices on everything from owning a vehicle to ‘congestion’ to having a driver’s license to living within 10 miles of the Lincoln Tunnel, we have a thought: maybe just focus on collecting fares from existing riders…

We know it’s controversial, but in the wake of a new New York Times report claiming that 48% of MTA Bus riders fail to pay fares, we can’t help but ask.

The Times reports that before the pandemic, about 20% of bus riders didn’t pay, but this has worsened recently.

Despite this, officials have mainly focused on the subway, deploying police and security to enforce fares, while bus fare evasion remains much higher. In early 2024, nearly half of bus riders evaded fares, compared to 14% on the subway, even though subway ridership is twice as high.

The evasion has cost the MTA “startling” losses—$315 million from bus riders and $285 million from subway riders in 2022, according to a 2023 report.

David R. Jones, an MTA board member and the chief executive of the Community Service Society said: “In the public’s mind, they don’t see the bus system as the real source of fare evasion. We have to get people to recognize that this is no longer acceptable.”

Drivers are increasingly afraid to collect fares due to violent, the report says. Bus driver Robert Freeman said: “First and foremost, I avoid all confrontation. Me, I just concentrate on driving, and I don’t say nothing.”

The NYPD commented:  “New Yorkers have come to expect and rightfully deserve to use the city’s mass transit system without being subjected to acts of lawlessness.”

Some paying riders resent free riders, while advocates for low-income residents fear stricter enforcement will disproportionately impact vulnerable people. The bus system, which serves many older and poorer individuals, has become a focal point in this debate, the Times reported. 

The MTAs ongoing struggle with fare evasion has sparked discussions about whether mass transit should be free, funded by taxes like public services. Assemblyman Zohran K. Mamdani, a Democrat, recently supported a bill for free rides on select bus routes, arguing that New Yorkers cannot afford the current costs.

But the MTA urgently needs fare revenue, facing a projected $1 billion deficit by 2028 due to higher-than-expected fare evasion. Before the pandemic, fares accounted for about 42% of the MTA’s revenue.

The situation worsened when Governor Kathy Hochul canceled a planned congestion pricing program, costing the MTA $15 billion in potential funding.

end

as always: Hindenburg is correct Tingo is a massive fraud

(zerohedge)

Hindenburg Target Tingo Mobile Found Liable For “Brazen” Fraud By Federal Judge After Ignoring SEC Lawsuit

Thursday, Aug 29, 2024 – 11:40 AM

Nigerian “agri-fintech” company Tingo Mobile – targeted by short seller Hindenburg Research barely a year ago, in June 2023 – has been found liable by a federal judge after failing to even respond to the SEC’s lawsuit against them, accusing them of demonstrable financial fraud.

US District Judge Jesse Furman called the fraud “brazen” in court on Wednesday, ruling in favor of the regulators, who followed claims by Hindenburg Research that Tingo was booking “billions” in fraudulent transactions.

“The magnitude of the fraud is quite something,” the judge said, according to a Bloomberg writeup. 

Back in December we noted that the SEC charged Tingo with “massive fraud”, claiming that almost every aspect of the company – including its partners and its financials – was fabricated.

The SEC announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against the company’s founder Dozy Mmobuosi for running an “alleged multi-year scheme to inflate the financial performance metrics of his companies and key operating subsidiaries to defraud investors worldwide”. 

“Mmobuosi spearheaded a scheme to fabricate financial statements and other documents of the three entities, Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc. and their Nigerian operating subsidiaries,” the SEC wrote in a release. 

Among the more egregious examples of fraud the SEC alleged was the company claiming to have $461.7 million in cash when it had only $50 in its bank accounts:

Tingo Group’s fiscal year 2022 Form 10-K filed in March 2023 reported a cash and cash equivalent balance of $461.7 million in its subsidiary Tingo Mobile’s Nigerian bank accounts. In reality, those same bank accounts allegedly had a combined balance of less than $50 as of the end of fiscal year 2022.

“Defendants also fabricated the customer relationships that formed the basis of their purported businesses,” the SEC alleged. “Mmobuosi and the entities he controls have fraudulently obtained hundreds of millions in money or property through these schemes.”

Antonia M. Apps, Regional Director of the SEC’s New York Regional Office, commented in December: “As alleged, Mmobuosi spearheaded a brazen scheme using phony records and fictitious entities to make the Tingo companies he controlled appear highly profitable, so that he could hoodwink investors and reap massive benefits at their expense. We filed this emergency action to expose Mmobuosi’s fraud and hold him accountable, while protecting investors from further harm.”

Hindenburg’s Nathan Anderson noted that Deloitte Israel gave Tingo a clean audit opinion for 2022 and was seeking to work with the company for 2023. He called it an “astonishing audit failure” for a Big 4 firm.

The SEC just alleged that Tingo fabricated all of its financials and virtually every aspect of its business.

Yet Deloitte gave Tingo a clean 2022 audit opinion. And 2 weeks ago was seeking ‘23 audit work.

Astonishing audit failure for a big 4 firm.https://t.co/JE7NJYJCr5 https://t.co/SZhkJVsNTj

— Nate Anderson (@NateHindenburg) December 18, 2023

“We think Tingo is a worthless and brazen fraud that should serve as a humiliating embarrassment for all involved,” Hindenburg wrote at the end of their June report. Tingo responded shortly thereafter that the Hindenburg report was full of “misleading and libellous content”. 

You can read the full SEC complaint against Tingo here.

KING REPORT

The King Report August 29, 2024 Issue 7316

Independent View of the News

Super Micro (SMCI) Shares Sink Most (26.94% at 11:22 ET) since 2020 on 10-K Delay – BBG The company said the delay is due to the need for more time to complete and assessment of its internal controls over financial reporting…   Super Micro delays annual filing to review internal controls, shares fall The move comes a day after Hindenburg Research disclosed a short position in Super Micro and alleged “accounting manipulation” at the company, whose shares have nearly doubled in value this year on the back of the AI boom… https://finance.yahoo.com/news/super-micro-computer-delay-annual-132123034.html   The SMCI crash induced traders that were ‘up the wazoo’ long Nvidia for its results, which were due after the close, to dump AI related stocks.  Mag 7 and related trading sardines got hammered in early NYSE trading.  NVDA hit -4.3% at 11:18 ET.  It then jumped on manipulation for the European close.   Three minutes after the 18:00 ET Nikkei opening, ESUs broke lower.  They eventually hit a bottom of 5630.50 at 19:24 ET.  A plodding rally took ESUs to a daily high of 565.0 50 at 4:58 ET.  ESUs then did a slow rollover that became a waterfall after 10:41 ET.   ESUs hit a daily low of 5596.00 at 12:22 ET.  A Noon Balloon took ESUs to 5616.25 at 13:01 ET.  After a moderate retreat, ESUs tumbled to a new daily low 5577.50 at 14:00 ET.  Did someone know something about Nvidia’s results?   ESUs traded in a modest range until the pre-last hour rally commenced at 14:48 ET.  Someone pushed ESUs to 5615.50 at 15:02 ET.  After a retreat to 5599.00 at 15:13 ET, ESUs rallied.  A late labored rally pushed ESUs to 5621.50 at 15:52 ET.  They sank to 5603.00 at 16:00 ET.   After NYSE trading, NVDA reported 0.68 EPS, 0.65 was expected: revenue of $30.0B, $28.8Bconsensus; Data Center Revenue of $26.3B, $25.08B expected; and forecast Q3 Revenue of $32.5B +/- 2%, $31.9B consensus.  NVDA sank to 122.56 (125.61 close) on the disappointing Q3 guidance and modestly better than expected results.  But NVDA authorized a $50.0B share buyback; NVDA soared to 128.56.  The rally was short-lived; NVDA then tumbled to 115.02 at 16:25 ET.   CNBC noted that the smallest EPS beat for NVDA the past 6 quarters was 9%.  It was 5% yesterday.   Positive aspects of previous session Gasoline and oil declined moderately. The DJTA rebounded moderately from Tuesday’s decline.   Negative aspects of previous session SMCI crashed; NVDA and Mag 7 stocks tumbled.   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: Down; Last Hour: Down   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5593.39 Previous session S&P 500 Index High/Low: 5627.03; 5560.95   Shake Shack to shut 6 California locations, including 5 in LA, after state’s $20 minimum wage hike https://trib.al/TSBZhgH   @MichaelAArouet: Germany has had no growth for 6 years. 1. German business model based on cheap energy from Russia, growing exports to China and cheap subcontractors in Eastern Europe is gone 2. Demographic crisis looms. 3. There is uncontrolled immigration into social system What did I miss?… https://t.co/CjyqgifZbP   @RNCResearch: CNBC: “Taxing UNREALIZED gains just doesn’t seem fair in any sense…”  Harris economic advisor Bharat Ramamurti: “This reaction to unrealized gains is a little funny… People are already paying a tax on unrealized gains: property taxes…” https://x.com/RNCResearch/status/1828788119765967168   “It is difficult to free fools from the chains they revere.” — Voltaire   Today – Barring unexpectedly good news, US stocks will decline sharply when the NYSE opens due to Nvidia’s disappointing results and troubling Q3 guidance as well as SMCI, another AI darling.   Please note: There is a recurring US equity market dynamic of morning declines and afternoon rallies.  Ergo, traders are likely to get long after noon ET in anticipation of the Afternoon Rally.  If the afternoon rally attempt fizzles, look out below!   NQUs are -181.75; ESUs are -29.50; and USUs are +4/32 at 20:32 ET.    Expected Economic Data: Q2 GDP 2.8%, Consumption 2.2%, GDP Price Index 2.3%, Core PCE Price Index 2.9% q/q; July Advance Goods Trade Balance -$97.9B; July Wholesale Inventories 0.3% m/m, Retail Inventories 0.6%; Initial Jobless Claims 232k, Continuing Claims 1.87m; July Pending Homes Sales 0.2% m/m & -2.0% y/y NSA; Atlanta Fed Pres Bostic 15:30 ET   S&P Index 50-day MA: 5498; 100-day MA: 5356; 150-day MA: 5265; 200-day MA: 5116 DJIA 50-day MA: 39,977; 100-day MA: 39,353; 150-day MA: 39,189; 200-day MA: 38,553 (Green is positive slope; Red is negative slope)   S&P 500 Index (5592.20 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 5494.80 triggers a sell signal Hourly: Trender and MACD are negative – a close above 5626.88 triggers a buy signal   EXCLUSIVE: Tim Walz Has A History Of Rubbing Elbows With Nonprofit Linked to Chinese Intel and Influence Agency  https://dailycaller.com/2024/08/27/exclusive-tim-walz-history-nonprofit-linked-chinese-intel-agency/   @paulsperry_: CNN’s Dana Bash, who was married to one of the 51 “spies who lied” about the Russians planting Hunter’s incriminating laptop, agreed to let Kamala’s running mate babysit her for her first press interview since Biden stepped aside, rather than insisting Kamala answer questions solo   @TrumpWarRoom: It took Kamala roughly 40 days to finally sit for an interview. The interviewer: @DanaBashCNN — who described the SCOTUS ruling to keep President Trump on the ballot as “[unfortunate] for America.” Oh… and it’s pre-taped.  Forget softball, this is tee-ball. https://x.com/TrumpWarRoom/status/1828794014273003988     Top Harris campaign intern Michael Tyler CONFIRMS Kamala has not “changed her mind” on a fracking ban — despite attempts by anonymous aides to walk it back. https://x.com/TrumpWarRoom/status/1828789880480219572     Unsurfaced clip shows Kamala Harris talking about getting “police officers out of schools.” She’s a RADICAL. https://x.com/TrumpWarRoom/status/1828768752529477768     @TrumpWarRoom: The person at Kamala and Biden’s White House who was responsible for getting Facebook to censor the free speech of Americans was former Director of Digital Strategy Rob Flaherty.  He’s now Kamala’s Deputy Campaign Manager https://x.com/TrumpWarRoom/status/1828868968171352150 . The fact that Team Obama-Harris will accept the disparagement and ridicule for holding her first interview as Dem Presidential Candidate with an accomplice strongly suggests the rumors that Harris suffers from anxiety attacks under even modest stimuli has merit.   @greg_price11: Kamala subjects a Georgia high school band to one of her classic cringe word salads. https://x.com/greg_price11/status/1828908007947657452   @TrumpWarRoom: Why is Kamala speaking to these high schoolers as if they’re toddlers? “You are all leaders by the very fact that you all are here and doing what you do… doing it as one big team… all of you taking a part that stick together to create a team.” https://x.com/TrumpWarRoom/status/1828906780040090064   Jim Jordan subpoenas company led by daughter of NY v Trump judge “… Of relevance to the Committee’s oversight is the impartiality of Judge Juan Merchan, the presiding trial judge, due to his refusal to recuse himself from the case in light of his apparent conflicts of interest and biases.”  “One such conflict is Ms. Merchan’s—daughter of Judge Merchan and President of Authentic Campaigns—work on behalf of President Trump’s political adversaries and the possible financial benefit that Ms. Merchan and Authentic Campaigns received from the prosecution and conviction of President Trump.”     Jordan said public reports indicated to him that both Nellis and Loren Merchan were “closely involved in the presidential campaigns of both President Biden and Vice President Harris.” https://www.foxnews.com/politics/jim-jordan-subpoenas-company-led-daughter-ny-v-trump-judge   Gold Star Families Had Trouble Getting Trump into Arlington Until House Speaker Intervened Arlington National Cemetery told gold star families that they could only be there for a specific time that did not work for everyone’s schedule and were also told the president could not join them at their children’s gravesites, the family told the Caller… (The Deep and Administrative States are vile!) https://dailycaller.com/2024/08/28/exclusive-gold-star-families-had-trouble-getting-trump-into-arlington-until-house-speaker-intervened/     @PeterSweden7: German police is investigating a social media user on Gab for the crime of commenting on the weight of a female politician. Looks like free speech is over in Europe.   “The concept of social justice has been the Trojan Horse through which totalitarianism has entered.” Friedrich von Hayek

GREG HUNTER

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