GOLD PRICE CLOSED UP $12.00TO $2515,20

SILVER PRICE DOWN $.06 TO $28.28

Gold ACCESS CLOSED $2515.30

Silver ACCESS CLOSED: $28.40

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

Bitcoin morning price:$57,1111UP 363 DOLLARS.

Bitcoin: afternoon price: $58114 up 1366 DOLLARS

Platinum price closing  DOWN$3.80 TO $941,80

Palladium price; DOWN $32,70 TO $916.30

END

*CANADIAN GOLD: $3423.88 UP 24.62 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,923.45UP 5.77Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,283.00UP 11.91 Euros per oz //* (ALL TIME CLOSING HIGH: 2.283,00EUROS PER OZ//SEPT 10 //.2024)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,501.800000000 USD
INTENT DATE: 09/09/2024 DELIVERY DATE: 09/11/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

323 C HSBC 2
363 H WELLS FARGO SEC 18
435 H SCOTIA CAPITAL 2
657 C MORGAN STANLEY 2
661 C JP MORGAN 4
737 C ADVANTAGE 41 13

---

TOTAL: 41 41
MONTH TO DATE: 3,881

JPMorgan stopped 38/212

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 41 NOTICES FOR 4100 OZ  or  0.1275 TONNES

total notices so far: 3881contracts for 388,100 Oz (12.0216 tonnes)

FOR  SEPT:

SILVER NOTICES: 65 NOTICE(S) FILED FOR 325,000 OZ/

total number of notices filed so far this month : 4,799 for 23.995 million 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 UP $12.00 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 862.74 TONNES

INVENTORY RESTS AT 862.74 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER DOWN $.06 AT THE SLV

SMALL CHANGES IN SILVER INVENTORY AT THE SLV: ..A WITHDRAWAL OF 639,000 OZ OF SILVER AT THE SLV//

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 465.549 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A STRONG SIZED 841 CONTRACTS TO 128,665 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS STRONG LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR STRONG GAIN OF $0.45 IN SILVER PRICING AT THE COMEX ON MONDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE GIN IN PRICE. WE HAD A TINY GAIN OF 3 CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS DURING MONDAY’S TRADING//. WE HAD CONSIDERABLE SHORT COVERING BY OUR SPECS WITH THE STRONG GAIN IN PRICE.  WE HAD A STRONG 560 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 1015 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE LOST A FAIR 481 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE HUGE GAIN IN PRICE.

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN YESTERDAY. THE ACCUMULATED T.A.S. IS BEING USED TO MANIPULATE PRICES AT THE COMEX NOW EVERY DAY..

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON MONDAY NIGHT: 1015 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS.IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS BUT TO NO AVAIL. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.45) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A TINY GAIN OF 3 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUGE 560 CONTRACT ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 22.765 MILLION OZ (FIRST DAY NOTICE) FOLLOWED BY TODAY’S 265000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 24.270 MILLION OZ

//NEW STANDING FOR SILVER//SEPT ADVANCES TO 24.070 MILLION OZ

WE HAD:

/ HUGE SIZED COMEX OI LOSS //STRONG SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1015 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 284 CONTRACTS.

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS AUGUST ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF SEPT

TOTAL CONTRACTS for 6 DAYS, total 4636 contracts:   OR 23.180 MILLION OZ  (772 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  23,180 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; 99.740 MILLION OZ//THIS MONTH WILL PROBABLY BE STRONG FOR ISSUANCE BUT LESS THAN JULY.

SEPT: 23,180 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

RESULT: WE HAD A HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF  841 CONTRACTS DESPITE OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//MONDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS:560 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  22.765 MILLION  OZ ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE 265,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT ADVANCES TO 24.270 MILLION OZ 

WE HAVE A FAIR LOSS OF 481  OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE HUGE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1015 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE MONDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE GAIN IN PRICE MONDAY/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE MONDAY NIGHT   (1015) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 65 NOTICE(S) FILED TODAY FOR 325,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 1311 OI CONTRACTS  TO 506,476 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 1321 CONTRACTS//

WE HAD A FAIR SIZED DECREASE  IN COMEX OI (1311 CONTRACTS) OCCURRED DESPITE OUR STRONG GAIN OF $12.95  IN PRICE /MONDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER.. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR SEPT AT 12.885 TONNES ON FIRST DAY NOTICE FOLLOWED BY MONDAYS STRONG 8,800 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  12.329 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $12.95 GAIN IN PRICE  WITH RESPECT TO MONDAY’S TRADING. WE HAD A FAIR SIZED GAIN OF 1695 OI CONTRACTS (5.272 PAPER TONNES) ON OUR TWO EXCHANGES, WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 3006 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 506,476

IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1695  CONTRACTS  WITH 1311 CONTRACTS DECREASED AT THE COMEX// AND A STRONG SIZED 3007 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1695 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A SMALL SIZED 656 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3007 CONTRACTS) ACCOMPANYING THE FAIR SIZED DECREASE IN COMEX OI OF 1311 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 1695 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 SEPT  12.885 TONNES FOLLOWED BY TODAY’S 8800 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO: /SEPT 12.329TONNES. 

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

  4)  FAIR SIZED COMEX OPEN INTEREST DECREASE 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///SMALL T.A.S.  ISSUANCE: 656 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

SEPT.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF SEPT. :

TOTAL EFP CONTRACTS ISSUED: 30,140 CONTRACTS OF 3,014,000OZ OR 93.74TONNES IN 6 TRADING DAY(S) AND THUS AVERAGING: 5023 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 6 TRADING DAY(S) IN  TONNES  93.74 TONNES

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

THUS EFP TRANSFERS REPRESENTS  93.74 DIVIDED BY 3550 x 100% TONNES = 2.64% 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: 274.79 TONNES//THIS MONTH WILL NO DOUBT BE A STRONG ISSUANCE OF EFP’S BUT MUCH LESS THAN LAST MONTH.

SEPT: 93.74 TONNES//IF THIS CONTINUES WE WILL HAVE A HUMDINGER OF AN EFP ISSUANCE.

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 SEPTEMBER. 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 (OCT), 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 HUGE SIZED  841 CONTRACTS OI  TO 128,605 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 1015 CONTRACTS

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

DEC 1015  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1015 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 841 CONTRACTS AND ADD TO THE 1015 E.FP. ISSUED

WE OBTAIN A FAIR SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 481 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES  TOTALS 2.405 MILLION OZ OCCURRED DESPITE OUR $0.45 GAIN IN PRICE  

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED UP 7.70 PTS OR 0.28% //Hang Seng CLOSED UP 37.03 PTS OR 0.22% // Nikkei CLOSED DOWN 56..59 OR 0.18%//Australia’s all ordinaries CLOSED UP 0.31%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1191 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1277/ Oil DOWN TO 67.82 dollars per barrel for WTI and BRENT DOWN AT 70.90 Stocks in Europe OPENED ALL MIXRD

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 1311 CONTRACTS TO 506,676 DESPITE OUR STRONG GAIN IN PRICE OF $12.95 WITH RESPECT TO MONDAY’S TRADING. WE LOST ZERO IN NUMBER LONGS WITH THE HIGHER PRICE FOR GOLD. THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTH DISTORTS OPEN INTEREST NUMBERS.

THE FED IS THE MAJOR SHORT OF AROUND 157+ 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/BEGINNING OF OCTOBER. THE FOUR OR FIVE BANKS ARE ALSO WORRIED ABOUT THEIR HUGE PRECIOUS METAL DERIVATIVE EXPOSURE (NORTH OF ONE TRILLION DOLLARS) AND THIS IS PROBABLY THE MAJOR REASON FOR GOLD/SILVER CONTAINMENT.

OUR PHYSICAL LONDONERS ALSO BOUGHT NEW MASSIVE QUANTITIES OF LONGS AT THESE 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 MINOR T.A.S. LIQUIDATION ON MONDAY’S  HUGE GAIN IN PRICE WITH ZERO LONGS WERE CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MAJOR SHORT COVERING. THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL. THE HIGH LIQUIDATION OF THE SPREADERS // T.A.S DURING LAST WEEK AND BEGINNING THIS WEEK IS SURELY DISTORTING COMEX OPEN INTEREST.

EXCHANGE FOR PHYSICAL ISSUANCE

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

THAT IS A STRONG SIZED 3007 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 3007 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3007 CONTRACTS. THESE EFP;S CIRCLE AROUND LONDON ON A 13 DAY BASIS AND ARE NOW USED BY GLOBAL CENTRAL BANKS TO EXERCISE FOR PHYSICAL GOLD WITH THE OBLIGATION TO DELIVER BEING FORCED ONTO COMEX BANKS. THE GOLD DELIVERED COMES FROM LONDON.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A FAIR SIZED TOTAL OF 1695 CONTRACTS IN THAT 3000 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR LOSS OF 1311 COMEX  CONTRACTS..AND THIS FAIR GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $12.95/MONDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TO EXERCISE FOR PHYSICAL GOLD AS MENTIONED ABOVE. THE RAIDS ON LAST WEDNESDAY, FRIDAY AND THIS PAST TUESDAY AND FRIDAY WERE ORCHESTRATED BY THE FRBNY AS WE ARE NOW FINISHED WITH OPTIONS EXPIRY FOR THE OTC/LONDON LBMA BETS ENDING LAST FRIDAY AFTERNOON. DESPITE THE FED’S HUGE SHORT PREDICAMENT THEY STILL HAVE TIME AND ENERGY TO RAID OUR PRECIOUS METALS. SUCH CROOKS!

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT A STRONG  SIZED 3000 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 AND THIS WEEK’S TRADING//RAIDS

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   SEPT  (12.329  TONNES) WHICH IS HUGE FOR A NON DELIVERY MONTH.

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

SEPT. 12.329 TONNES.

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $12.95 ////AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A FAIR GAIN IN OUR TWO EXCHANGES. WE HAD SOME T.A.S. SPREADER LIQUIDATION. BUT CENTRAL BANK LONGS, SEIZING THE MOMENT, EXERCISED FOR PHYSICAL IN A BIG WAY.

WE HAVE GAINED A TOTAL OI OF 9.3530 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR SEPT (12.885 TONNES) ON FIRST DAY NOTICE FOLLOWED BY MONDAY’S QUEUE JUMP OF A GOOD SIZED 8800 OZ

//NEW STANDING FOR SEPT ADVANCES TO: 12.329 TONNES.

NEW STANDING FOR SEPT: 12.329 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  GAIN IN PRICE  TO THE TUNE OF $12.95

WE HAVE REMOVED 4269 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 1695 CONTRACTS OR 169500 OZ (5.27

TONNES)

confirmed volume MONDAY 298,916contracts GOOD

//speculators have left the gold arena

END

SEPT 10     SEPTEMBER  GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	NIL           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	NIL oz
No of oz served (contracts) today	212 notice(s) 21200 OZ 0.6594 TONNES
No of oz to be served (notices)	83 contracts    8300 OZ 0.2582 TONNES
Total monthly oz gold served (contracts) so far this month	3881notices 3881,00 oz 12.0216TONNES
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:1

jpmorgan 30,102.592 oz removed from eligible

TOTAL WITHDRAWALS

30,102.592 oz

adjustments: 0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 124 contracts having LOST 152 contracts. We had 212 notices filed on MONDAY so we GAINED 88 contracts or 8800 oz will stand at the comex as these boys seek metal on this side of the pond.

OCTOBER LOST 558 CONTRACTS UP TO 41,936 CONTRACTS

NOVEMBER GAINED 6 CONTRACTS TO STAND AT 86

DECEMBER, THE BIGGEST DELIVERY MONTH LOST 1063 CONTRACTS TO 406,196.

We had 41 contracts filed for today representing 4100 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 41 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 2 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for SEPT /2024. contract month, we take the total number of notices filed so far for the month (3881( x 100 oz ) to which we add the difference between the open interest for the front month of  SEPT 124 CONTRACTS)  minus the number of notices served upon today  (41 x 100 oz per contract( equals  396,400 OZ  OR 12.329 TONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month:  No of notices filed so far (3881 x 100 oz +we add the difference for front month of SEPT  (x124X// , OI} minus the number of notices served upon today (41) x 100 oz which equals  396,400 oz (12.329 TONNES) 

TOTAL COMEX GOLD STANDING FOR SEPT.: 12.329 TONNES WHICH IS HUGE FOR THIS  NON ACTIVE DELIVERY MONTH IN THE CALENDAR. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,780,327.447 oz 55.375 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,067,536.861 OZ  

TOTAL REGISTERED GOLD 7,425,642.244 ( 230.96 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,641,694l67OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,645,315 oz (REG GOLD- PLEDGED GOLD)= 175.59 tonnes //

END

SILVER/COMEX

SEPT 10/2024

INITIAL

//2024// THE SEPT 2024  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	879,393.119OZ Delaware asahi Loomis Manfra .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	1,193,279,570 oz ASAHI Loomis     604,950.900 OZ asahi delaware
No of oz served today (contracts)	65 CONTRACT(S)    (325,000 OZ)
No of oz to be served (notices)	55 contracts  (0.275 million oz)
Total monthly oz silver served (contracts)	4799 Contracts  (12.995 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: 593,740.100 oz

ii) Into Loomis: 599,535.470 oz

total customer deposit 1,193,279.570 oz

JPMorgan has a total silver weight: 134.996million oz/306.575 million  or 44.03%

adjustment:2

c) dealer to customer Loomis 40,659,640oz

d) dealer to customer Delaware 143,288,290 oz

withdrawals: 1

i) Out of Delaware 46,321.838 oz

total customer withdrawals: 46,321.838 oz

TOTAL REGISTERED SILVER: 77.302 MILLION OZ//.TOTAL REG + ELIGIBLE. 306.575 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 120 CONTRACTS HAVING LOST 3 CONTRACT(S). 

WE HAD 56 NOTICES FILED ON MONDAY, SO WE GAINED 53 CONTRACTS OR 265,000 OZ

UNDERWENT A QUEUE JUMP TO TAKE DELIVERY OF SILVER OVER ON THIS SIDE OF THE POND..

THERE MUST BE ENOUGH SILVER OVER HERE.

OCTOBER SAW ANOTHER GAIN OF 37 OF OPEN INTEREST CONTRACTS AND THUS WE HAVE 1377 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW ITS ANOTHER GAIN OF 6 CONTRACTS TO STAND AT 23.

DECEMBER SAW A LOSS OF 1252 CONTRACTS UP TO 113,313.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 65 for 325,000 oz

CONFIRMED volume; ON MONDAY 57,488 WEAK

To calculate the number of silver ounces that will stand for delivery in SEPT. we take the total number of notices filed for the month so far at 4799 x 5,000 oz = 23.995 MILLION oz 

to which we add the difference between the open interest for the front month of SEPT(120) and the number of notices served upon today 65x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the SEPT/2024 contract month:  4799 notices served so far) x 5000 oz + OI for the front month of SEPT (120)x number of notices served upon today minus (65)x 5000 oz of silver standing for the SEPT  contract month equates to 24.270 MILLION OZ. 

 New total standing: 24.270 million oz.

There are 77,743 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

SEPT 10   WITH GOLD UP $12.00ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:/ //////INVENTORY RESTS AT 862.74 TONNES

SEPT 9 WITH GOLD UP $12.95 ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:/ //////INVENTORY RESTS AT 862.74 TONNES

SEPT 6 WITH GOLD DOWN $17.65 ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:/ //////INVENTORY RESTS AT 862.74 TONNES

SEPT 5 WITH GOLD UP $18.00 ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:/ //////INVENTORY RESTS AT 862.74 TONNES

SEPT 4 WITH GOLD UP $3.45 ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:/ //////INVENTORY RESTS AT 862.74 TONNES

SEPT 3 WITH GOLD DOWN $4.25 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 5,47 TONNES OF GOLD INTO THE GLD/:/ //////INVENTORY RESTS AT 862.74 TONNES

AUGUST 30 WITH GOLD DOWN $31.30 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD A DEPOSIT OF 1.15 TONNES OF GOLD INTO THE GLD/:/ //////INVENTORY RESTS AT 857.27 TONNES

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

GLD INVENTORY: 862.74 TONNES, TONIGHTS TOTAL

SILVER

SEPT 10//WITH SILVER DOWN $.06/SMALL CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 639,000 OZ OF SILVER FROM THE SLV./. /: .///./// /INVENTORY AT 465.549MILLION OZ

SEPT 9//WITH SILVER UP $0.45//SMALL CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 46,000 OZ OF SILVER FROM THE SLV./. /: .///./// /INVENTORY AT 466.188 MILLION OZ

SEPT 6//WITH SILVER DOWN $.84//NO CHANGES IN SILVER INVENTORY /: .///./// /INVENTORY AT 466.234 MILLION OZ

SEPT 5//WITH SILVER UP $.55//SMALL CHANGES IN SILVER INVENTORY A WITHDRAWAL OF 0.193 MILLION OZ OF SILVER INTO THE SLV/: .///./// /INVENTORY AT 466.234 MILLION OZ

SEPT 4//WITH SILVER UP $.17//SMALL CHANGES IN SILVER INVENTORY A DEPOSIT OF 0.456 MILLION OZ OF SILVER INTO THE SLV/: .///./// /INVENTORY AT 466.427 MILLION OZ

SEPT 3//WITH SILVER DOWN $.74//HUGE CHANGES IN SILVER INVENTORY A DEPOSIT OF 1.278 MILLION OZ OF SILVER INTO THE SLV/: .///./// /INVENTORY AT 465.971 MILLION OZ

AUGUST30//WITH SILVER DOWN $.42//NO CHANGES IN SILVER INVENTORY: .///./// /INVENTORY AT 464.693 MILLION OZ

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

CLOSING INVENTORY 466.188 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1/ PETER SCHIFF/SCHIFF GOLD/MIKE MAHARRY

end

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 DISPATCHE

END

4. OTHER GOLD COMMENTARIES/:live from the vault

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COMMODITIES:silver

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/TUESDAY MORNING/MONDAY  NIGHT

SHANGHAI CLOSED UP 7.70 PTS OR 0.28% //Hang Seng CLOSED UP 37.03 PTS OR 0.22% // Nikkei CLOSED DOWN 56..59 OR 0.18%//Australia’s all ordinaries CLOSED UP 0.31%///Chinese yuan (ONSHORE) CLOSED DOWN TO 7,1191 CHINESE YUAN OFFSHORE CLOSED DOWN TO 7.1277/ Oil DOWN TO 67.82 dollars per barrel for WTI and BRENT DOWN AT 70.90 Stocks in Europe OPENED ALL MIXRD

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

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

ONSHORE YUAN:   CLOSED DOWN TO 7.1177

OFFSHORE YUAN: DOWN TO 7.1278

SHANGHAI CLOSED UP 7.70 PTS OR 0.28 %

HANG SENG CLOSED UP 37.13 PTS OR 0.22%

2. Nikkei closed DOWN 56.59 PTS OR 0.18%

3. Europe stocks   SO FAR:  ALL MOSTLY MIXED

USA dollar INDEX UP TO  101.59 EURO FALLS TO 1.1038 DOWN 5 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.898 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 143.05…… 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: DOWN OFFSHORE: DOWN

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

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

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

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.183/Italian 10 Yr bond yield DOWN to 3.552 SPAIN 10 YR BOND YIELD DOWN TO 3.022

3i Greek 10 year bond yield DOWN TO 3.215

3j Gold at $2506//Silver at: 28.45  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 12/ 100  roubles/dollar; ROUBLE AT 91,00

3m oil into the 68 dollar handle for WTI and  70 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 143.05/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.898 % 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 0.8474 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9349 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: 3.718UP 2 BASIS PTS…

USA 30 YR BOND YIELD: 4.010 UP 2 BASIS PTS/

USA 2 YR BOND YIELD:  3.685 UP 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 34.06…

10 YR UK BOND YIELD: 3.905 DOWN 4 PTS

10 YR CANADA BOND YIELD: 3.01 8 DOWN 2 BASIS PTS

5 YR CANADA BOND YIELD: 2.807 UP 1 PTS.

2a New York OPENING REPORT

Futures Rise Ahead Of Trump-Harris Debate

Tuesday, Sep 10, 2024 – 08:16 AM

US equity futures rose, trading near session highs after they rebounding off overnight lows as markets head into a crunch period, with key inflation data on Wednesday followed by the Fed’s interest-rate decision next week. As of 8:00am ET, S&P futures were up 0.1% trading in a narrow range after the underlying gauge rose 1.2% on Monday, rebounding from its worst start to the month in data going back to 1953; Nasdaq futures were down 0.2% as Mag7 and Semis are weaker while Financials rise following a Bloomberg report of lower capital requirements. Treasury yields rose a second day, higher by 1-2 bps while the USD held Monday’s gains. Commodities are mixed with metals up, energy down, and Ags mixed. The macro data in focus is on the Small Biz Optimism print (which dropped to 91.2 from 93.7, missing estimates) and the Presidential Debate.

In premarket trading, Oracle jumped 8% after reporting quarterly profit and bookings that topped estimates, signaling that artificial intelligence demand continues to boost its cloud computing business. Apple shares slid 1% after the iPhone maker lost its court fight over a $14.4 billion Irish tax bill. Here are some other notable premarket movers:

• Mission Produce jumps 22% after the avocado supplier reported fiscal third-quarter revenue that topped the average of two analyst estimates compiled by Bloomberg.
• Rubrik drops 6% after the cybersecurity company reported earnings; Bloomberg Intelligence notes that doubts about growth in the second half of the year could linger.
• Viridian Therapeutics gains 8% ahead of a conference call this morning when the company will report topline data for the Thrive phase 3 clinical trial evaluating VRDN-001 in patients with active thyroid eye disease.

As Bloomberg notes, the market mood has been cautious as investors look to balance US recession fears and the likelihood of a soft landing, amid worries the Fed may be falling behind the curve as the labor market cools. Meanwhile, US political risk is back at the forefront, with former President Donald Trump squaring off in a debate with US Vice President Kamala Harris later Tuesday. Meanwhile, according to Nate Silver, Trump’s chance of winning just hit 64.4%, the highest yet.

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“We need to see what actually plays out and will have the possibility of impacting markets,” Grace Peters, global head of investment strategy at JPMorgan Private Bank, said on Bloomberg TV. “We will be watching tariffs, trade policy, taxes.”

Amid the rising uncertainty hedge funds have been unwinding their positions to get cash ready for volatility ahead of the Nov. 5 vote, according to Goldman Prime Brokerage data.  At Newton Investment Management, head of fixed income Ella Hoxha is avoiding assets exposed to “a weaker cyclical backdrop, potentially wider credit spreads and weaker commodity currencies,” she said in an interview with Bloomberg TV. Since Friday, the firm has been boosting safe assets including US Treasury and Japanese government debt, she said.

European stocks declined but still traded within Monday’s levels. Heath care, autos and energy are the worst-performing sectors in Europe’s Stoxx 600 while the commodity-heavy FTSE 100 lags regional peers with a 0.6% drop. The ECB’s policy meeting later in the week is also weighing on risk appetite. The central bank meets Thursday, where it is expected to deliver a second interest rate cut this year to tackle a faltering economy.

Earlier, Asian stocks were also mixed as a reversal of early losses in China offset declines in Japan and Korea. The MSCI Asia Pacific Index traded in a tight range, with health-care firms among the biggest drags. Japan’s Topix reversed earlier gains to drop for a fifth day as the strong yen weighed on investor sentiment.  Chinese stocks rose in late trading, closing slightly higher, though the CSI 300 Index is still hovering near its lowest close since January 2019. Latest data releases have added to worries over spiraling deflation in Asia’s largest economy, while the progress in US legislation that would blacklist some Chinese biotech firms adds to headwinds for the nation’s equities.

In FX, the Bloomberg dollar spot index inches marginally higher ahead of the Trump-Harris presidential debate. Pound steady at $1.30 after UK pay growth cooled to a two-year low in the three months through July. JPY underperforms G-10 FX after a Bloomberg report said that Bank of Japan officials see little need to raise the benchmark rate when board members gather next week.  Morgan Stanley sees the euro sliding toward parity with the dollar within months amid risks of aggressive ECB policy easing. The US bank expects the single currency to slump to $1.02 by year-end, a roughly 7% depreciation from its current level of $1.1037. The call is the most bearish among currency analysts surveyed by Bloomberg.

In rates, treasuries are slightly cheaper across the curve amid comparable losses for bunds and gilts following several European bond sales skewed toward longer-dated maturities. Yields are higher by 1bp-2bp across the curve, the 10-year around 3.715% and slightly cheaper vs bunds and gilts in the sector, with curve spreads little changed. Coupon auction cycle begins at 1pm New York time with $58b 3-year new issue, followed by $39b 10-year and $22b 30-year reopenings Wednesday and Thursday. WI 3-year yield at around 3.515% is ~29.5bp richer than last month’s, which stopped through by 0.2bp following a selloff. Calendar events are limited ahead of the presidential debate slated to start at 9pm New York time.

In commodities, Brent crude underperforms commodities with a 1.2% drop to near $71 a barrel. Spot gold falls roughly $5 to trade near $2,502/oz.

Bitcoin continues to edge higher, now sitting above USD 57k whilst Ethereum holds around USD 2.3k.

Looking to the day ahead now, the main highlights will be the TV debate tonight between Kamala Harris and Donald Trump. Otherwise, data releases include UK unemployment and Italian industrial production for July, whilst in the US there’s the NFIB’s small business optimism index for August. Finally from central banks, we’ll hear from Fed Vice Chair for Supervision Barr.

Market Snapshot

• S&P 500 futures little changed at 5,481.75
• STOXX Europe 600 up 0.2% to 511.94
• MXAP down 0.2% to 179.60
• MXAPJ up 0.1% to 558.71
• Nikkei down 0.2% to 36,159.16
• Topix down 0.1% to 2,576.54
• Hang Seng Index up 0.2% to 17,234.09
• Shanghai Composite up 0.3% to 2,744.19
• Sensex up 0.7% to 82,145.49
• Australia S&P/ASX 200 up 0.3% to 8,011.94
• Kospi down 0.5% to 2,523.43
• German 10Y yield little changed at 2.18%
• Euro little changed at $1.1035
• Brent Futures down 0.4% to $71.58/bbl
• Gold spot down 0.2% to $2,501.26
• US Dollar Index up 0.13% to 101.69

Top overnight news

• Largest US banks’ capital hike was reduced in half under the latest plan by regulators in which banks would face a 9% increase in capital requirements instead of the 19% that was originally called for by the Fed, FDIC and the Office of the Comptroller of the Currency: BBG
• China’s exports come in ahead of expectations for Aug (+8.7% vs. the Street +6.6%) as companies seek out int’l markets amid soft domestic demand while imports fell short (+0.5% vs. the Street +2.5%). RTRS
• A deepening selloff in Chinese stocks is exacerbating a crisis of confidence in the world’s second-largest economy, heaping pressure on policymakers to halt the downward spiral. BBG
• China urged by economists to enact a ~$1.4T stimulus plan amid dire economic trends, including intensifying disinflationary pressures. FT
• BOJ officials see “little need” to hike rates at their meeting next week (Bloomberg); UK wage growth eased to +4% in Jul (vs. +4.6% in June), keeping the BOE on a path to continue easing policy (although rates are expected to stay unchanged at next week’s meeting). BBG
• Norway’s underlying inflation continued to ease in Aug (but was inline w/expectations), bolstering expectations for the country’s central bank to cut rates this year. BBG
• Apple and Google lost landmark EU decisions in a win for the bloc’s crackdown on tech companies. Apple was fighting a €13 billion Irish tax bill, while Google had sought to topple a €2.4 billion antitrust fine. BBG
• US regulators scaled back a proposed capital requirement hike for the biggest banks, to 9% from 19%, people familiar said. The move will probably appease banks and may also help Fed Chair Jerome Powell gain support from the central bank’s board. BBG
• Apollo and other PE firms are muscling into the $15 trillion US life insurance and retirement savings market, shaking up traditional insurers as they push back with regulators caught in the middle. BBG
• Tonight’s debate between Kamala Harris and Donald Trump has unnerved investors more than before the June event with Joe Biden. A measure of dollar volatility is near the highest since 2023 and the VIX is on the upswing. BBG

A more detailed look at global markets courtesy of Newsquawk

APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded amid light newsflow ahead of looming key events, although Chinese markets lagged amid mixed Chinese trade data. ASX 200 was led higher by strength in financials and utilities but with gains capped after weak consumer and business surveys. Nikkei 225 edged higher albeit with trade contained in the absence of any major pertinent catalysts. Hang Seng and Shanghai Comp were mixed as the former was indecisive with Alibaba the biggest gainer after its Stock Connect inclusion, while WuXi AppTec was at the other end of the spectrum after the US House passed the Biosecure Act which would prohibit the US government from contracting with certain biotech firms. Conversely, the mainland lagged behind regional peers amid mixed Chinese trade data and after protectionist measures by the US House which also voted to pass the Countering CCP Drones Act that would bar new drones by DJI from operating in the US.

Top Asian News

• BoJ reportedly sees little need to hike interest rate next week, according to Bloomberg sources; officials are not ruling out another hike later this year or in early 2025 contingent on the economy and market.
• US House passed the Biosecure Act with broad bipartisan support which would prohibit the US government from contracting with, or providing grants to, companies that do business with a “biotechnology company of concern”, while it specifically named five Chinese companies which were BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics.
• US House voted to bar new drones from Chinese drone maker DJI from operating in the US, according to Reuters.
• TSMC (2330 TW/TSM) August (TWD) Revenue 250.87bln, -2.4% M/M
• Chinese August vehicles sales -5% Y/Y (prev. -5.2% in July), Jan-Aug vehicles sales +3% Y/Y (prev. +8% a year ago); NEV sales +30% Y/Y.
• China’s Vice Commerce Minister said China is willing to engage in dialog and consultations to appropriately resolve China-EU economic and trade frictions

European equities, Stoxx 600 (+0.3%) began the session flat/mixed but quickly turned positive as sentiment improved since the cash open. Since, sentiment has deteriorated and indices now sit towards the bottom end of today’s ranges. European sectors are mixed; Real Estate takes the top spot, with Tech also on a firmer footing. Healthcare is the clear underperformer, dragged down by AstraZeneca (-5%) after its lung cancer drug trial failed to significantly improve survival. US equity futures (ES -0.2%, NQ -0.2%, RTY -0.2%) are entirely in the red, paring some of the gains made in the prior session; the NQ marginally lags, hampered by Apple (-1% pre-market), after a EU tax order. EU to lower proposed tariffs on Tesla’s (TSLA) and other EVs from China. Tesla’s tariff rate reportedly to fall to under 8% from 9%, according to Bloomberg sources. Apple (AAPL) has lost fight against EUR 13bln EU tax order to Ireland, according to Reuters; Apple said EU regulators are trying retroactively to change the rules. EU top court dismissed Alphabet’s (GOOG) fight EUR 2.42bln EU antitrust fine.

Top European News

• Kantar: UK Grocery inflation 1.7% (prev. 1.8%), UK Grocery sales +3% in value terms in the 4 weeks to Sep 1st Y/Y.
• Germany’s Chemical Industry Association VCI said Q2 production +3.7% Y/Y, or +8.4% without pharmaceuticals.

FX

• DXY has paused for breath after a two-session winning streak which has taken the index from a 100.58 base on Friday to a current session high at 101.72. Data docket for the remainder of the day is light so the next risk event for the USD comes via the Presidential debate overnight.
• EUR is steady vs. the USD with EUR-specific drivers light in the run up to Thursday’s ECB decision which ultimately may prove to be an event lacking in volatility. If the pair’s recent downtrend resumes, support comes via the 3rd September low at 1.1026.
• GBP is the marginal outperformer across the majors post-UK jobs data which showed a decline in the unemployment rate and a sharp jump in employment. For cable, the pair has moved back above its 21DMA at 1.3080 but failed to sustain a move above 1.31 after topping out at 1.3107.
• JPY is on the backfoot vs. the USD in an extension of yesterday’s price action. For now, the pair has been unable to top yesterday’s best at 143.80.
• Antipodeans are steady for both of the antipodes vs. the USD. AUD is a touch softer post disappointing confidence data which overshadowed broadly encouraging Chinese trade metrics. AUD/USD is back below its 100DMA at 0.6646.
• PBoC set USD/CNY mid-point at 7.1136 vs exp. 7.1140 (prev. 7.0989).

Fixed Income

• USTs have pulled back a touch in-fitting with some of the downside seen in European peers. Tonight’s US Presidential debate could offer some impetus, whereby a strong showing from Trump could reignite some of the bear-steepening bets seen post-his debate with Biden in the summer; US2s10s is still in positive territory whilst the 10yr yield is currently sitting within yesterday’s 3.691-763% range.
• Bunds are a touch softer in a move which coincided with UK jobs data. Fresh macro drivers for the Eurozone are light in the run up to Thursday’s ECB decision which ultimately may prove to be an event lacking in volatility. German 10yr yield is back below the 2.2% mark at 2.178%.
• Gilts are slightly lower, in-fitting with European peers. The main macro update from the UK has come via labour market/earnings data which saw a downtick in unemployment, jump in employment change and slightly softer earnings components. UK 10yr yield is currently contained within yesterday’s 3.856-944% range.
• Orders for Italy’s new BTP are over EUR 108bln, spread set at 13bps over 2053 BTP, according to Reuters.
• UK sells GBP 900mln 0.625% 2045 I/L Gilt: b/c 3.44x (prev. 3.88x) & real yield 1.20% (prev. 1.304%).
• Germany sells EUR 0.462bln vs exp. EUR 0.5bln 2.10% 2029 Green Bobl and EUR 0.485bln vs exp. EUR 0.5bln 0.00% 2050 Green Bund.

Commodities

• Crude is on the backfoot amid quiet newsflow for the complex, and after yesterday’s modestly firmer settlement. Chinese trade data added more concerns regarding Chinese demand after imports missed expectations. Tropical Storm Francine, which is expected to strengthen into a hurricane today before making landfall tomorrow; Brent sits in a USD 70.71-72.28/bbl parameter.
• Precious metals are mixed with spot gold and silver subdued and palladium once again outperforming, albeit off highs in recent trade.
• Base metals tilt lower in subdued trade after the Chinese trade data reinforced weak domestic demand as imports missed forecasts. 3M LME copper trades in a narrow 9,070.50-9,150.50/t range.
• Spot gold is slightly softer, but with trade fairly rangebound in the European morning; XAU currently sits just above USD 2.5k/oz in a narrow USD 2500.26-2507.72/oz range.
• Base metals are almost entirely in the red,
• NHC said Francine is expected to become a hurricane soon with storm surge and hurricane warnings in effect for the Louisiana coast.
• US Coast Guard ordered the closure of Brownsville and other small Texas ports, while the port of Corpus Christi remained open under vessel traffic restrictions, according to an advisory.
• NHC said strong winds and dangerous storm surge expected along the Louisiana coast tomorrow.
• NHC said Francine is likely to become a hurricane today
• Chevron (CVX) announced to evacuate all staff and shut in oil and gas production at two US Gulf of Mexico platforms.
• Shell (SHEL LN) announced to shut oil production at Perdido offshore platform in US Gulf of Mexico citing downstream impacts.
• Goldman Sachs said strong production and disappointing demand pose a downside risk to their US gas price forecast, while it added that Tropical Storm Francine is expected to further reduce power demand and potentially impact LNG exports out of the Gulf.
• China oil industry researcher said China oil products demand is projected to fall by an average of 1.1% annually between 2023-2025.
• India Steel Minister said the Indian steel ministry backs taxing imports

Geopolitics: Ukraine

• Israeli military said it conducted an air strike which targeted a Hamas command centre in Khan Younis, while Hamas media reported the death toll from the Israeli strike on a Gaza tent encampment was at least 40.
• US President Biden was reported to convene his national security team to discuss the impasse in negotiations on the hostage deal, according to Axios’s Barak Ravid citing sources.
• Yemeni Houthis noted that they downed US MQ-9 drone in Saada

Geopolitics: Other

• Moscow’s Vnukovo and Domodedovo Airports stopped flights after reports of nearby drone attacks, while it was separately reported that a fire broke out at a multi-storey residential building in Moscow’s Ramenskoye district as a result of a drone attack.
• North Korean leader Kim said they must prepare North Korea’s nuclear capability and readiness to use it properly at any given time, while they are implementing a nuclear force construction policy to increase the number of nuclear weapons exponentially, according to KCNA.
• Russian forces have attacked energy infrastructure in eight Ukrainian regions in the last 24 hours, according to the energy ministry cited by Reuters.
• Russian Security Council Secretary Shoigu said Russia has enough forces and continues its offensive, according to Ria

US Event Calendar

• 06:00: Aug. SMALL BUSINESS OPTIMISM, est. 93.6, prior 93.7

Central Bank speakers

• 10:00: Fed’s Barr Speaks on Basel III Endgame
• 12:15: Fed’s Bowman Gives Speech on Stress Testing

DB’s Jim Reid concludes the overnight wrap

This week I celebrate 20 years since I left gardening leave, a climb to the top of Kilimanjaro, and my one and only ever half marathon behind, and started at DB. How time flies. It’s been an eventful and enjoyable ride so far and how long it lasts likely depends on a combination of DB’s tolerance and when my kids leave the payroll. The latter date may be greater than the former! We will see.

There have been far more eventful days in those past 20 years than yesterday but after the September stresses so far, risk assets have recovered over the last 24 hours, with the S&P 500 (+1.16%) posting a decent advance after its worst weekly performance since SVB’s collapse. There wasn’t a single catalyst for the recovery, but in a constantly flip-flipping macro narrative the sense yesterday was that last week’s fears about a sharper US downturn were overdone, and the headline data (including payrolls at +142k) still wasn’t consistent with a recession. In the meantime, with confidence growing about the outlook, that led investors to dial back the chance that the Fed would deliver a 50bp cut next week. Tonight we see the long awaited Trump vs Harris TV debate take place at 9pm EST time. So it will be all over a couple of hours before we go to press tomorrow and is the only confirmed debate between the two candidates exactly 8 weeks today until polling day. The election has moved down the pecking order of macro topics of late after dominating mid-summer, likely as Harris reversed what was looking like a strong polling momentum towards a red sweep before Biden stood aside.

In recent days, the general perception from polls, betting odds and forecasting models is that Trump has regained a bit of ground relative to where things stood after the Democratic convention. In particular, there was a lot of focus on a national New York Times/Siena poll, which showed Trump ahead of Harris by 48-47%, and that’s considered a high-quality poll. Now that’s been at the upper end of the recent range for Trump, and the RealClearPolitics average still has Harris ahead by 1.2pts. But given the Republicans have the slight advantage in the Electoral College, Harris likely needs to be a bit further ahead of Trump in the national vote to be confident of victory. Perhaps with tonight’s debate and once we know for certain whether the Fed are going to ease 25 or 50bps next week, we’ll be back to talking about the election more.

Back to the last 24 hours and the more positive momentum shift was down to sentiment rather than any new data, but investors got a reminder that growth is certainly not currently falling off a cliff given the updated Atlanta Fed’s GDPNow update. The latest reading yesterday included Friday’s jobs report, which lifted the Q3 growth estimate from an annualised +2.1% rate to +2.5%. If realised, that would be the 8th quarter in the last 9 where growth is running at an annualised pace above 2%. Along similar lines, the New York Fed’s Staff Nowcast stood at +2.6% for Q3 on Friday, so still pointing well away from recessionary levels. Adding to the generally resilient cyclical data, yesterday’s US consumer credit release for July (+$25.5bn) showed the strongest monthly rise since October 2022.

Against that backdrop, risk assets posted a recovery on both sides of the Atlantic. For equities, that saw the S&P 500 (+1.16%) post its biggest daily gain in three weeks, after a run of four consecutive declines. This was a broad rebound, with all but one of the 24 industry groups higher on the day, and more cyclical sectors including consumer discretionary (+1.63%), industrials (+1.56%) and information technology (+1.42%) leading the way. The Magnificent 7 advanced +1.37% amidst strong gains from Nvidia (+3.54%) and Tesla (+2.63%). Meanwhile in Europe it was much the same story, with the STOXX 600 (+0.82%) finally making up some ground after falling every day last week.

Elsewhere, as optimism grew on the economy, it led investors to price in a greater chance that the Fed would only cut rates by 25bps next week. Indeed, futures were giving a 50bp cut a 31% probability by the close, which is its joint lowest level over the past two weeks. In turn, that led to a rise in front-end Treasury yields, with the 2yr yield up +2.2bps to 3.67%. However, there was a fresh move lower for the 10yr yield, which fell -0.9bps to 3.70%, which is its lowest closing level since June 2023.

When it comes to next week’s Fed decision, the last big piece of data beforehand will be tomorrow’s CPI release for August, which could help tilt the balance between 25 and 50, particularly if there were a big surprise in either direction. For our US economists’ CPI preview, and to register for their post-release webinar, see here. We’ll have to wait and see what that brings, but yesterday did see the New York Fed release their latest Survey of Consumer Expectations, where inflation expectations were broadly unchanged. The 1yr expectation series remained at 3.0%, 3yr expectations ticked up two-tenths to 2.5%, and the 5yr expectation was unchanged at 2.8%.

Back in the political sphere, former ECB President Mario Draghi published his long-awaited report into European competitiveness yesterday. Among others it called for additional investments of €750-800bn per year, and it said that some “joint funding of investment at the EU level is necessary to maximise productivity growth”. Overall the report contained a fairly blunt message, and Draghi said to reporters that “For the first time since the Cold War we must genuinely fear for our self-preservation”. The reality though is that Europe is struggling for the political capital to rally around delivering the findings of Draghi’s report. So whether the 400 pages in the report can make a difference is a moot political point.

Asian equity markets are relatively quiet this morning with the Hang Seng (+0.09%), Nikkei (+0.01%), and the KOSPI (+0.05%) trading just above flat. Elsewhere, Chinese stocks are lower with the CSI (-0.54%) approaching its lowest close since January 2019 while the Shanghai Composite (-0.53%) is also trading in the red. S&P 500 (-0.14%) and NASDAQ 100 (-0.36%) futures are pulling back a little of yesterday’s gains.

Early morning data showed that China’s export growth in August (+8.7% y/y) surpassed market expectations for a +6.6% gain, and up from the +7.0% increase seen in July. However, import growth slowed to +0.5% y/y in August (v/s +2.5% expected), down from a +7.2% advance in the previous month, thus indicating weakening domestic demand, possible import substitution, and an excess of domestic production. The trade surplus stood at $91.02 billion, (v/s $81.10 expected) and up from $84.65 billion in July.

To the day ahead now, and one of the main highlights will be the TV debate tonight between Kamala Harris and Donald Trump. Otherwise, data releases include UK unemployment and Italian industrial production for July, whilst in the US there’s the NFIB’s small business optimism index for August. Finally from central banks, we’ll hear from Fed Vice Chair for Supervision Barr

2B) European report

European equities are mixed whilst US futures tilt lower, DXY is flat & GBP benefits post-jobs data – Newsquawk US Market Open

Tuesday, Sep 10, 2024 – 06:10 AM

• European equities are mixed, with initial early-morning strength trimmed; US equity futures are modestly in the red with slight underperformance in the NQ following an Apple tax order.
• Apple (AAPL) has lost the fight against the EUR 13bln EU tax order to Ireland, according to Reuters; Apple said EU regulators are trying retroactively to change the rules; AAPL -1.2% in the pre-market.
• DXY is flat, GBP gains post-jobs data which were mixed; Bloomberg reported that the BoJ sees little need to hike rates at its next meeting had little impact on the Yen.
• Bonds are very modestly softer; Gilts are weighed on by the region’s mixed jobs report.
• Crude continues to pull back and towards session lows, XAU and base metals also on the backfoot.
• Looking ahead, EIA STEO, OPEC MOMR, Comments from BoC Governor Macklem, Fed’s Barr, BoE’s Breeden.

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EUROPEAN TRADE

EQUITIES

• European equities, Stoxx 600 (+0.3%) began the session flat/mixed but quickly turned positive as sentiment improved since the cash open. Since, sentiment has deteriorated and indices now sit towards the bottom end of today’s ranges.
• European sectors are mixed; Real Estate takes the top spot, with Tech also on a firmer footing. Healthcare is the clear underperformer, dragged down by AstraZeneca (-5%) after its lung cancer drug trial failed to significantly improve survival.
• US equity futures (ES -0.2%, NQ -0.2%, RTY -0.2%) are entirely in the red, paring some of the gains made in the prior session; the NQ marginally lags, hampered by Apple (-1% pre-market), after a EU tax order.
• EU to lower proposed tariffs on Tesla’s (TSLA) and other EVs from China. Tesla’s tariff rate reportedly to fall to under 8% from 9%, according to Bloomberg sources.
• Apple (AAPL) has lost fight against EUR 13bln EU tax order to Ireland, according to Reuters; Apple said EU regulators are trying retroactively to change the rules.
• EU top court dismissed Alphabet’s (GOOG) fight EUR 2.42bln EU antitrust fine.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY has paused for breath after a two-session winning streak which has taken the index from a 100.58 base on Friday to a current session high at 101.72. Data docket for the remainder of the day is light so the next risk event for the USD comes via the Presidential debate overnight.
• EUR is steady vs. the USD with EUR-specific drivers light in the run up to Thursday’s ECB decision which ultimately may prove to be an event lacking in volatility. If the pair’s recent downtrend resumes, support comes via the 3rd September low at 1.1026.
• GBP is the marginal outperformer across the majors post-UK jobs data which showed a decline in the unemployment rate and a sharp jump in employment. For cable, the pair has moved back above its 21DMA at 1.3080 but failed to sustain a move above 1.31 after topping out at 1.3107.
• JPY is on the backfoot vs. the USD in an extension of yesterday’s price action. For now, the pair has been unable to top yesterday’s best at 143.80.
• Antipodeans are steady for both of the antipodes vs. the USD. AUD is a touch softer post disappointing confidence data which overshadowed broadly encouraging Chinese trade metrics. AUD/USD is back below its 100DMA at 0.6646.
• PBoC set USD/CNY mid-point at 7.1136 vs exp. 7.1140 (prev. 7.0989).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs have pulled back a touch in-fitting with some of the downside seen in European peers. Tonight’s US Presidential debate could offer some impetus, whereby a strong showing from Trump could reignite some of the bear-steepening bets seen post-his debate with Biden in the summer; US2s10s is still in positive territory whilst the 10yr yield is currently sitting within yesterday’s 3.691-763% range.
• Bunds are a touch softer in a move which coincided with UK jobs data. Fresh macro drivers for the Eurozone are light in the run up to Thursday’s ECB decision which ultimately may prove to be an event lacking in volatility. German 10yr yield is back below the 2.2% mark at 2.178%.
• Gilts are slightly lower, in-fitting with European peers. The main macro update from the UK has come via labour market/earnings data which saw a downtick in unemployment, jump in employment change and slightly softer earnings components. UK 10yr yield is currently contained within yesterday’s 3.856-944% range.
• Orders for Italy’s new BTP are over EUR 108bln, spread set at 13bps over 2053 BTP, according to Reuters.
• UK sells GBP 900mln 0.625% 2045 I/L Gilt: b/c 3.44x (prev. 3.88x) & real yield 1.20% (prev. 1.304%).
• Germany sells EUR 0.462bln vs exp. EUR 0.5bln 2.10% 2029 Green Bobl and EUR 0.485bln vs exp. EUR 0.5bln 0.00% 2050 Green Bund.
• Click for a detailed summary

COMMODITIES

• Crude is on the backfoot amid quiet newsflow for the complex, and after yesterday’s modestly firmer settlement. Chinese trade data added more concerns regarding Chinese demand after imports missed expectations. Tropical Storm Francine, which is expected to strengthen into a hurricane today before making landfall tomorrow; Brent sits in a USD 70.71-72.28/bbl parameter.
• Precious metals are mixed with spot gold and silver subdued and palladium once again outperforming, albeit off highs in recent trade.
• Base metals tilt lower in subdued trade after the Chinese trade data reinforced weak domestic demand as imports missed forecasts. 3M LME copper trades in a narrow 9,070.50-9,150.50/t range.
• Spot gold is slightly softer, but with trade fairly rangebound in the European morning; XAU currently sits just above USD 2.5k/oz in a narrow USD 2500.26-2507.72/oz range.
• Base metals are almost entirely in the red,
• NHC said Francine is expected to become a hurricane soon with storm surge and hurricane warnings in effect for the Louisiana coast.
• US Coast Guard ordered the closure of Brownsville and other small Texas ports, while the port of Corpus Christi remained open under vessel traffic restrictions, according to an advisory.
• NHC said strong winds and dangerous storm surge expected along the Louisiana coast tomorrow.
• NHC said Francine is likely to become a hurricane today
• Chevron (CVX) announced to evacuate all staff and shut in oil and gas production at two US Gulf of Mexico platforms.
• Shell (SHEL LN) announced to shut oil production at Perdido offshore platform in US Gulf of Mexico citing downstream impacts.
• Goldman Sachs said strong production and disappointing demand pose a downside risk to their US gas price forecast, while it added that Tropical Storm Francine is expected to further reduce power demand and potentially impact LNG exports out of the Gulf.
• China oil industry researcher said China oil products demand is projected to fall by an average of 1.1% annually between 2023-2025.
• India Steel Minister said the Indian steel ministry backs taxing imports
• Click for a detailed summary

NOTABLE DATA RECAP

• UK Avg Earnings (Ex-Bonus) (Jul) 5.1% vs. Exp. 5.1% (Prev. 5.4%); Avg Wk Earnings 3M YY (Jul) 4.0% vs. Exp. 4.1% (Prev. 4.5%, Rev. 4.6%)
• UK ILO Unemployment Rate (Jul) 4.1% vs. Exp. 4.1% (Prev. 4.2%); The estimated number of vacancies in the UK in June to August 2024 was 857k, a decrease of 42k or 4.7% from March to May 2024
• UK Claimant Count Unem Chng (Aug) 23.7k (Prev. 135.0k, Rev. 102.3k); Employment Change (Jul) 265k vs. Exp. 115k (Prev. 97k); HMRC Payrolls Change (Aug) -59k (Prev. 24k)
• Norwegian Core Inflation MM (Aug) -0.7% vs. Exp. -0.8% (Prev. 0.8%); Core Inflation YY (Aug) 3.2% vs. Exp. 3.2% (Prev. 3.3%)Consumer Price Index YY (Aug) 2.6% vs. Exp. 2.7% (Prev. 2.8%); Consumer Price Index MM (Aug) -0.9% vs. Exp. -0.9% (Prev. 0.5%)
• German HICP Final YY (Aug) 2.0% vs. Exp. 2.0% (Prev. 2.0%); HICP Final MM (Aug) -0.2% vs. Exp. -0.2% (Prev. -0.2%); CPI Final YY (Aug) 1.9% vs. Exp. 1.9% (Prev. 1.9%); Final MM (Aug) -0.1% vs. Exp. -0.1% (Prev. -0.1%)
• Swedish New Orders Manuf. YY (Jun) -0.1% (Prev. -8.9%, Rev. 1.0%)
• Italian Industrial Output MM SA (Jul) -0.9% vs. Exp. -0.1% (Prev. 0.5%); Industrial Output YY WDA (Jul) -3.3% (Prev. -2.6%)

NOTABLE EUROPEAN HEADLINES

• Kantar: UK Grocery inflation 1.7% (prev. 1.8%), UK Grocery sales +3% in value terms in the 4 weeks to Sep 1st Y/Y.
• Germany’s Chemical Industry Association VCI said Q2 production +3.7% Y/Y, or +8.4% without pharmaceuticals.

NOTABLE US HEADLINES

• Largest US banks’ capital hike was reduced in half under the latest plan by regulators in which banks would face a 9% increase in capital requirements instead of the 19% that was originally called for by the Fed, FDIC and the Office of the Comptroller of the Currency, according to Bloomberg citing sources familiar with the matter.
• US VP Harris is ahead of former President Trump at 49%-46% in a North Carolina poll by Quinnipiac, while Trump is ahead by 3 points in a Georgia poll by Quinnipiac.

GEOPOLITICS

MIDDLE EAST

• Israeli military said it conducted an air strike which targeted a Hamas command centre in Khan Younis, while Hamas media reported the death toll from the Israeli strike on a Gaza tent encampment was at least 40.
• US President Biden was reported to convene his national security team to discuss the impasse in negotiations on the hostage deal, according to Axios’s Barak Ravid citing sources.
• Yemeni Houthis noted that they downed US MQ-9 drone in Saada

OTHER

• Moscow’s Vnukovo and Domodedovo Airports stopped flights after reports of nearby drone attacks, while it was separately reported that a fire broke out at a multi-storey residential building in Moscow’s Ramenskoye district as a result of a drone attack.
• North Korean leader Kim said they must prepare North Korea’s nuclear capability and readiness to use it properly at any given time, while they are implementing a nuclear force construction policy to increase the number of nuclear weapons exponentially, according to KCNA.
• Russian forces have attacked energy infrastructure in eight Ukrainian regions in the last 24 hours, according to the energy ministry cited by Reuters.
• Russian Security Council Secretary Shoigu said Russia has enough forces and continues its offensive, according to Ria

CRYPTO

• Bitcoin continues to edge higher, now sitting above USD 57k whilst Ethereum holds around USD 2.3k.

APAC TRADE

• APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded amid light newsflow ahead of looming key events, although Chinese markets lagged amid mixed Chinese trade data.
• ASX 200 was led higher by strength in financials and utilities but with gains capped after weak consumer and business surveys.
• Nikkei 225 edged higher albeit with trade contained in the absence of any major pertinent catalysts.
• Hang Seng and Shanghai Comp were mixed as the former was indecisive with Alibaba the biggest gainer after its Stock Connect inclusion, while WuXi AppTec was at the other end of the spectrum after the US House passed the Biosecure Act which would prohibit the US government from contracting with certain biotech firms. Conversely, the mainland lagged behind regional peers amid mixed Chinese trade data and after protectionist measures by the US House which also voted to pass the Countering CCP Drones Act that would bar new drones by DJI from operating in the US.

NOTABLE ASIA-PAC HEADLINES

• BoJ reportedly sees little need to hike interest rate next week, according to Bloomberg sources; officials are not ruling out another hike later this year or in early 2025 contingent on the economy and market.
• US House passed the Biosecure Act with broad bipartisan support which would prohibit the US government from contracting with, or providing grants to, companies that do business with a “biotechnology company of concern”, while it specifically named five Chinese companies which were BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics.
• US House voted to bar new drones from Chinese drone maker DJI from operating in the US, according to Reuters.
• TSMC (2330 TW/TSM) August (TWD) Revenue 250.87bln, -2.4% M/M
• Chinese August vehicles sales -5% Y/Y (prev. -5.2% in July), Jan-Aug vehicles sales +3% Y/Y (prev. +8% a year ago); NEV sales +30% Y/Y.
• China’s Vice Commerce Minister said China is willing to engage in dialog and consultations to appropriately resolve China-EU economic and trade frictions

DATA RECAP

• Chinese Trade Balance (USD)(Aug) 91.02B vs. Exp. 82.05B (Prev. 84.65B)
• Chinese Exports YY (USD)(Aug) 8.7% vs. Exp. 6.5% (Prev. 7.0%)
• Chinese Imports YY (USD)(Aug) 0.5% vs. Exp. 2.0% (Prev. 7.2%)
• Chinese Trade Balance (CNY)(Aug) 649.34B (Prev. 601.90B)
• Chinese Exports YY (CNY)(Aug) 8.4% (Prev. 6.5%)
• Chinese Imports (CNY)(Aug) 0.0% (Prev. 6.6%)
• Australian West Consumer Confidence MM (Sep) -0.5% (Prev. 2.8%)
• Australian Westpac Consumer Confidence Index (Sep) 84.6 (Prev. 85.0)
• Australian NAB Business Confidence (Aug) -4.0 (Prev. 1.0)
• Australian NAB Business Conditions (Aug) 3.0 (Prev. 6.0)

2C ASIAN REPORT.

APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded; Chinese trade data mixed; Europe indicated flat – Newsquawk Europe Market Open

Tuesday, Sep 10, 2024 – 02:19 AM

• APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded (S&P 500 +1.2%)
• Chinese trade data in USD terms was mixed; larger surplus than expected, exports beat, imports missed
• European equity futures are indicative of a flat open with the Euro Stoxx 50 future unchanged after the cash market gained 0.9% on Monday
• DXY is steady above the 101.50 mark, the USD’s major counterparts have been unable to regain much lost ground.
• Looking ahead, highlights include German CPI (F), UK Unemployment/Wages, Norway CPI, EIA STEO, OPEC MOMR, Comments from BoC Governor Macklem, Supply from UK, Germany & US

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1. Subscribe to the free premarket movers reports

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SNAPSHOT

US TRADE

EQUITIES

• US stocks were firmer to start the week in light newsflow amid a lack of tier-1 releases and the Fed on a blackout period. Nonetheless, all sectors aside from Communication Services gained with Financials, Industrials, and Consumer Discretionary as the best performers as the latter two were buoyed by Boeing (BA) and Tesla (TSLA), respectively, while Apple (AAPL) shares were flat after its Glowtime Event, where the tech giant announced the new iPhone 16 with Apple Intelligence, alongside a new Watch and AirPods, proved to be a damp squib.
• SPX +1.2% at 5,471, NDX +1.3% at 18,661, DJIA +1.2% at 40,830, RUT +0.3% at 2,097.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Largest US banks’ capital hike was reduced in half under the latest plan by regulators in which banks would face a 9% increase in capital requirements instead of the 19% that was originally called for by the Fed, FDIC and the Office of the Comptroller of the Currency, according to Bloomberg citing sources familiar with the matter.
• US VP Harris is ahead of former President Trump at 49%-46% in a North Carolina poll by Quinnipiac, while Trump is ahead by 3 points in a Georgia poll by Quinnipiac.

APAC TRADE

EQUITIES

• APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded amid light newsflow ahead of looming key events, although Chinese markets lagged amid mixed Chinese trade data.
• ASX 200 was led higher by strength in financials and utilities but with gains capped after weak consumer and business surveys.
• Nikkei 225 edged higher albeit with trade contained in the absence of any major pertinent catalysts.
• Hang Seng and Shanghai Comp were mixed as the former was indecisive with Alibaba the biggest gainer after its Stock Connect inclusion, while WuXi AppTec was at the other end of the spectrum after the US House passed the Biosecure Act which would prohibit the US government from contracting with certain biotech firms. Conversely, the mainland lagged behind regional peers amid mixed Chinese trade data and after protectionist measures by the US House which also voted to pass the Countering CCP Drones Act that would bar new drones by DJI from operating in the US.
• US equity futures (ES -0.1%) were little changed amid tentativeness ahead of looming risk events.
• European equity futures are indicative of a flat open with the Euro Stoxx 50 future unchanged after the cash market gained 0.9% on Monday.

FX

• DXY traded rangebound after Monday’s advances and amid thin newsflow with participants now awaiting the US Presidential Debate on Tuesday and the latest US CPI data on Wednesday.
• EUR/USD languished near the prior day’s lows and firmly beneath the 1.1100 handle ahead of a widely expected ECB rate cut this week.
• GBP/USD remained lacklustre after having recently trickled to a sub-1.3100 level, while the focus turns to UK jobs and earnings data.
• USD/JPY eked mild gains after snapping a four-day losing streak but with price action contained by a lack of pertinent catalysts.
• Antipodeans were flat after weaker Australian business and consumer confidence surveys, while participants also reflected on the mixed trade figures from Australia and New Zealand’s top export partner.
• PBoC set USD/CNY mid-point at 7.1136 vs exp. 7.1140 (prev. 7.0989).

FIXED INCOME

• 10yr UST futures marginally softened with demand constrained by a lack of catalysts as participants await key events and supply.
• Bund futures held on to the majority of yesterday’s spoils but with upside capped ahead of today’s bobl and bund issuances.
• 10yr JGB futures traded flat amid a lack of tier-1 releases while mostly improved results from the 5-year JGB auction did little to spur prices.

COMMODITIES

• Crude futures took a breather after the prior day’s rebound as Francine disrupts production and refining along the US Gulf Coast.
• NHC said Francine is expected to become a hurricane soon with storm surge and hurricane warnings in effect for the Louisiana coast.
• US Coast Guard ordered the closure of Brownsville and other small Texas ports, while the port of Corpus Christi remained open under vessel traffic restrictions, according to an advisory.
• Chevron (CVX) announced to evacuate all staff and shut in oil and gas production at two US Gulf of Mexico platforms.
• Shell (SHEL LN) announced to shut oil production at Perdido offshore platform in US Gulf of Mexico citing downstream impacts.
• Goldman Sachs said strong production and disappointing demand pose a downside risk to their US gas price forecast, while it added that Tropical Storm Francine is expected to further reduce power demand and potentially impact LNG exports out of the Gulf.
• China oil industry researcher said China oil products demand is projected to fall by an average of 1.1% annually between 2023-2025.
• Spot gold was rangebound and just about held on to the USD 2,500/oz status as markets await the US CPI data mid-week.
• Copper futures were subdued as Chinese markets lagged amid mixed trade data and US protectionist legislation.

CRYPTO

• Bitcoin weakened overnight following a pullback beneath the USD 57,000 level.

NOTABLE ASIA-PAC HEADLINES

• US House passed the Biosecure Act with broad bipartisan support which would prohibit the US government from contracting with, or providing grants to, companies that do business with a “biotechnology company of concern”, while it specifically named five Chinese companies which were BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics.
• US House voted to bar new drones from Chinese drone maker DJI from operating in the US, according to Reuters.

DATA RECAP

• Chinese Trade Balance (USD)(Aug) 91.02B vs. Exp. 82.05B (Prev. 84.65B)
• Chinese Exports YY (USD)(Aug) 8.7% vs. Exp. 6.5% (Prev. 7.0%)
• Chinese Imports YY (USD)(Aug) 0.5% vs. Exp. 2.0% (Prev. 7.2%)
• Chinese Trade Balance (CNY)(Aug) 649.34B (Prev. 601.90B)
• Chinese Exports YY (CNY)(Aug) 8.4% (Prev. 6.5%)
• Chinese Imports (CNY)(Aug) 0.0% (Prev. 6.6%)
• Australian West Consumer Confidence MM (Sep) -0.5% (Prev. 2.8%)
• Australian Westpac Consumer Confidence Index (Sep) 84.6 (Prev. 85.0)
• Australian NAB Business Confidence (Aug) -4.0 (Prev. 1.0)
• Australian NAB Business Conditions (Aug) 3.0 (Prev. 6.0)

GEOPOLITICS

MIDDLE EAST

• Israeli military detained a convoy of UN vehicles in the northern Gaza strip and has intelligence indicating a number of ‘Palestinian suspects’ are in the convoy.
• Israeli military said it conducted an air strike which targeted a Hamas command centre in Khan Younis, while Hamas media reported the death toll from the Israeli strike on a Gaza tent encampment was at least 40.
• US President Biden was reported to convene his national security team to discuss the impasse in negotiations on the hostage deal, according to Axios’s Barak Ravid citing sources.

OTHER

• Moscow’s Vnukovo and Domodedovo Airports stopped flights after reports of nearby drone attacks, while it was separately reported that a fire broke out at a multi-storey residential building in Moscow’s Ramenskoye district as a result of a drone attack.
• White House said it cannot confirm the report of an Iranian missile transfer to Russia, while it also stated that China holding naval air drills with Russia is a sign of deepening cooperation.
• North Korean leader Kim said they must prepare North Korea’s nuclear capability and readiness to use it properly at any given time, while they are implementing a nuclear force construction policy to increase the number of nuclear weapons exponentially, according to KCNA.

.

3 CHINA

CHINA/

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

EU/IRELAND

Big win for the EU. Looks like Ireland’s sweetheart tax deal is over

(zerohedge)

“Big Win”: EU’s Vestager Celebrates As Apple Loses €13bn Ireland Tax Bill Case

Tuesday, Sep 10, 2024 – 09:45 AM

Outgoing EU competition chief Margrethe Vestager scored a major victory on Tuesday after the European Court of Justice (ECJ) ruled against Apple in the decade-long battle over the tech giant’s “sweetheart” tax affairs in Ireland. 

“Today is a big win for European citizens and for tax justice. The Court of Justice confirms that Ireland granted Apple unlawful aid which Ireland now has to recover, and the Commission’s decision in the Google Shopping antitrust case,” Vestager said in a press conference on Tuesday. 

The European Commission first investigated Apple’s tax payments in Ireland in 2014. By 2016, the Commission demanded Dublin to recover 13 billion euros ($14.4 billion) in back taxes from the US-based company. In 2019, Apple appealed the Commission’s decision, and in 2020, the EU General Court ruled in Apple’s favor. The EU’s second-highest court rejected the Commission’s 2016 decision and said that the executive arm did not demonstrate that the Irish government had given Apple a tax advantage. Like a game of ping-pong, the Commission appealed the General Court’s decision, which ultimately sent the litigation to the ECJ for final ruling. 

“The Court of Justice gives final judgment in the matter and confirms the European Commission’s 2016 decision: Ireland granted Apple unlawful aid which Ireland is required to recover,” the Luxembourg-based court said, adding Apple’s two Ireland-based companies enjoyed favorable tax treatment compared to resident companies taxed in Ireland. 

Apple previously stated that from 2003 to 2014, it paid $577 million in tax, 12.5% of the profit generated in the country, which is in line with tax laws. 

“The European Commission is trying to retroactively change the rules and ignore that, as required by international tax law, our income was already subject to taxes in the US. We are disappointed with today’s decision as previously the general court reviewed the facts and categorically annulled this case,” Apple wrote in a statement to The Guadrian.

Bloomberg Intelligence’s Anurag Rana and Andrew Girard weighed in on Apple’s defeat: 

“The EU top court’s reinstatement of a €13 billion tax penalty against Apple doesn’t pose significant operational threat. Apple put the sum in escrow after the 2016 ruling, and disclosed nearly $62 billion in cash and marketable securities in 3Q. Ireland has tightened the tax program that underpinned the EU’s decision, leaving little risk of further action. Pending EU inquiries into the App Store, brought under a new legal regime, pose a more tangible challenge as they are likely to force Apple to open its walled ecosystem.”

Apple shares in premarket trading in New York were down a little over 1%. 

EJC’s ruling comes one day after Apple debuted the new iPhone 16 models and other upgraded devices. Some Wall Street analysts called the launch event ‘uninspiring’ and questioned if the new iPhone will ignite a big refresh cycle. 

end

GERMANY/VOLKSWAGEN

Volkswagen declares war on unions……forget about job protection

Volkswagen Declares War On Unions, Scraps Three-Decade-Old Job Protections

Tuesday, Sep 10, 2024 – 03:10 PM

As discussed earlier today, Germany’s economy is slowly but surely sinking, whether or not Mario Draghi’s proposal to flood Europe in new debt is eventually accepted, and nowhere is the pain more tangible than Germany’s iconic carmaker, Volkswagen, which we reported last week was considering its first-ever factory closure amid a dire economic backdrop, and which today took the shocking – for Germany – decision to end job protections for German auto workers as part of its cost-cutting push, setting up a calamitous showdown with unions as the country’s most important industry fights for its future.

This morning, the world’s largest automaker by sales canceled several agreements linked to a three-decades-old pact that was supposed to safeguard employment until 2029, VW said. Guarantees will effectively run out by the middle of next year. According to Bloomberg, “ending job security commitments at a company synonymous with engineering prowess signals how far Europe’s biggest economy has fallen behind on competitiveness.”

The moves are meant to “reduce costs in Germany to a competitive level,” VW’s human resources chief Gunnar Kilian said in a statement.

The news came shortly after BMW cut its profit expectations for the year after faulty brakes from German supplier Continental AG prompted a recall of 1.5 million vehicles. Last week, VW announced plans to potentially close factories in Germany for the first time after previous measures to cut expenses fell flat.

VW’s main target is its underperforming namesake passenger car brand, whose profit margins are getting squeezed amid a sputtering transition to EVs and a consumer spending slowdown. Carmakers in Europe are also struggling to compete with Tesla and new entrants from China led by BYDl, which have been selling cars at dumping prices, infuriating Brussels.

Cutbacks at VW are harder to push through than at other companies, especially since half the seats on the company’s supervisory board are held by labor representatives, and the German state of Lower Saxony — which owns a 20% stake — often sides with trade union bodies. The automaker, which employs almost 300,000 Germans, last week defended its plant closure plans, saying flagging car sales have left it with about two factories too many.

VW’s cost-cutting plans may result in unintended additional costs for the company of close to €1 billion ($1.1 billion), according to Thorsten Gröger, chief negotiator for the main IG Metall union: ending the guarantees trigger higher wages under previous collective bargaining pacts, he said in a separate statement.

While VW said it’s ready to start talks with labor representatives earlier than planned as part of the upcoming bargaining round, unions quickly vowed to fight the end of employment protections.

“We will put up a fierce resistance to this historic attack on our jobs,” said Daniela Cavallo, VW’s top employee representative and a supervisory board member. “With us, there will be no layoffs.”

Sorry, but there will be and by the time the layoffs are done, it will be a historic bloodbath.

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL//HAMAS/

IAF eliminate ‘significant’ Hamas terrorists embedded in Khan Yunis Humanitarian Area

Medics and Hamas claimed at least 14 Palestinians were killed in the airstrike on a tent encampment in Khan Yunis in the southern Gaza Strip.

By DANIELLE GREYMAN-KENNARDSEPTEMBER 10, 2024 01:42Updated: SEPTEMBER 10, 2024 03:24

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-819437&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240909_24063dfc829539b45d3b4d08e6d81eaf9e2f6039&useBunnyCDN=0&themeId=140&unitType=tts-player

The IAF struck “significant” Hamas terrorist members as they were operating within a terrorist command and control center embedded in a designated Humanitarian Area of Khan Yunis, the IDF announced early on Tuesday morning.

The terrorists, whose identities have not been released to the public yet, had previously carried out attacks against IDF troops and the state of Israel, the military said.

Prior to the strike, the military assured that numerous steps were taken to mitigate the risk of harming civilians, including the use of precise munitions, aerial surveillance, and additional means.

The terrorists, located in a designated Humanitarian Zone, had been identified by ISA intelligence.

Hamas’s claims on the strike

Medics and Hamas claimed at least 14 Palestinians were killed in the airstrike on a tent encampment in Khan Yunis in the southern Gaza Strip.

Residents and medics said a tent encampment in the Al-Mawasi area, which is designated as a humanitarian zone, was struck by at least four missiles.

The Hamas-run Gaza civil emergency service said at least 20 tents caught on fire, and missiles caused craters as deep as nine meters (30 feet).

Hamas’s use of civilian areas for terrorist activities

Hamas has repeatedly been recorded using civilians as shields during their terrorist operations during and before the start of the war. For example, in July, Hamas’s supreme military commander Mohammad Deif was eliminated in an airstrike on a Humanitarian Area in Khan Yunis.

The terror group have been repeatedly caught utilizing school buildings in Khan Yunis and other parts of Gaza as control centers to plan attacks against Israel.

end

REUTERS contributed to this report.

end

TIMES OF ISRAEL/same story as above)

Dozens reported killed in Israeli strike on Gaza tent camp

By Agencies and ToI Staff

An official in the Hamas-run Gaza Strip says at least 40 people were killed and 60 injured in an Israeli strike on a humanitarian zone in southern Gaza where the military said Hamas was operating a command and control center.

The official says the number represents those who were found and transferred to hospitals, with civil defense officials indicating more people may be missing beneath the wreckage.

A spokesperson for Hamas’s civil defense unit quoted by the Hamas-linked Shehab news agency claims entire families were swallowed under mountains of sand in the strike, which left massive holes in the ground, though rescuers lack the equipment to dig them out.

Videos show Gazans desperately clawing at mounds of sand in the darkness as they try to reach the dead and injured.

https://twitter.com/i/status/1833295322912600068

ISRAEL/HAMAS/WEST BANK

Court rules: Palestinian Authority must compensate trio who thwarted terrorism against Israel

Each of those who were imprisoned after cooperating with Israeli security is entitled to receive a sum of about one million shekels for the severe abuse he suffered by the Palestinian Authority.

By BINI ASHKENAZISEPTEMBER 9, 2024 21:13

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-819407&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240909_24063dfc829539b45d3b4d08e6d81eaf9e2f6039&useBunnyCDN=0&themeId=140&unitType=tts-player

According to court rulings by the Jerusalem District Court, the Palestinian Authority must pay compensation of NIS 3 million to a trio who helped prevent the murder of Israelis, according to Israeli media on Monday.

The trio were imprisoned by the PA after they cooperated with Israel and were abused while in prison, “They were beaten with guns, electric cables, and sticks.”

The PA was ordered to pay huge compensation to the trio who helped to thwart terrorist acts against Israel, according to several rulings handed down at the beginning of this month by Judge Miriam Ilani of the Jerusalem District Court.

Each of those who were imprisoned after cooperating with Israeli security is entitled to receive a sum of about one million shekels for the severe abuse he suffered by the Palestinian Authority and for being imprisoned for more than four years in the basements of the PA.

Severe torture and abuse

In one of the verdicts, the plaintiff described the abuse he suffered during his imprisonment by the PA.

“Among other things, he was beaten all over his body with rifles, electric cables, and batons; they were hanged using the ‘Al Shabach’ method, denied sleep and access to the bathroom, forced to go out naked at night, and poured have cold water on him.”

Another judgment speaks of sleep deprivation, teeth breaking, denial of access to the bathroom, being forced to drink soap, as well as threats to kill his family.

Experts who examined those assistants describe that they suffer from severe depression and grief as well as having difficulty functioning in social situations.

The High Court of Justice ruled in 2021 that the Israeli courts can discuss the question of compensation for Palestinian collaborators who prevented terrorist attacks against Israel for the sake of public policy (a legal concept that allows the court to contain a legal interpretation of a social situation that was not explicitly regulated by law).

The ruling states: “It is hard to believe that the Israeli courts would recognize a defense that cooperation with Israel is an act of treason in favor of the Israeli enemy, and it must be fought against. What’s more, those acts of ‘treason’ were intended to prevent acts of terrorism against Israel and against Israelis, which the Palestinian Authority pledged to prevent in the interim agreement.”

---

---

It was also stated in the verdict that: “The Israeli courts should not echo a Palestinian narrative that is contrary to public policy in Israel. The Palestinian Authority is entitled to protect its security and act against spies and collaborators, as long as this does not harm Israel’s security interests, which left security responsibility in [the PA]’s hands.”

Attorneys Barak Kedem and Aryeh Arbus, who represent the collaborators, said: “The events of October 7 taught us about the heavy moral debt we have towards the collaborators who help us in dealing with terrorism. The fact that the court obliged the Palestinian Authority to compensate the collaborators is recognition of their contribution and a distinction between enemy and ally.”

ISRAEL/WEST BANK

At least 5 killed in airstrike Jabaliya police station – Palestinian report

By JERUSALEM POST STAFFSEPTEMBER 9, 2024 17:19

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-819377&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240909_24063dfc829539b45d3b4d08e6d81eaf9e2f6039&useBunnyCDN=0&themeId=140&unitType=tts-player

At least five people were killed in an airstrike on a police station in the Jabaliya refugee camp in the northern Gaza Strip, Israeli media reported, citing Palestinian sources. 

END

ISRAEL /LEBANON/HEZBOLLAH

After Hezbollah strike on Nahariya, residents say government abandoned them

Drone hits apartment of members of urban kibbutz who moved to the city out of idealism; now they say they have to deal with their own shock before they can help others

By Diana Bletter Follow9 September 2024, 10:39 pm

The scene where a drone fired from Lebanon hit a building, in the northern Israeli city of Nahariya, September 9, 2024. (Flash90)

NAHARIYA — The high-rises of Nahariya’s new neighborhood shoot up out of what once was farm fields. In just a few years, hundreds of new residents have flocked to the area, renting apartments with stunning views of the city, the sea, and the rolling green hills that form Israel’s border with Lebanon six miles away.

The buildings went up fast and always seemed to stand tall, almost as if in defiance of the thousands of Hezbollah rockets aimed in their direction. But on Monday afternoon, just hours after a drone launched by the terror group hit a building, the blackened, damaged wall it left behind almost seemed like a sign that the northern city’s 64,000 residents were all-too-easy targets.

Although no one was hurt, the drone hit rendered two apartments unlivable. The attack also had a ripple effect, sending waves of terror through the neighborhood, whose residents felt a sense of foreboding that, after almost-daily bombardments of Kiryat Shmona and dozens of other northern communities for the past 11 months, Hezbollah was beginning to target their city.

Since October 8, the day after Hamas’s cross-border massacre started the war in Gaza, Hezbollah-led forces have attacked Israeli communities and military posts along the border on a near-daily basis, with the group saying it is doing so to support Gaza.

So far, the skirmishes have resulted in 26 civilian deaths on the Israeli side, as well as the deaths of 20 IDF soldiers and reservists. There have also been several attacks from Syria, without any injuries.

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“We feel the government has abandoned us and just let the war go on,” said Tal Masad, a member of urban kibbutz Ruth, who lives two floors down from the damaged apartment, where two other kibbutz members reside. The attack destroyed the bathroom, but “luckily, the couple and their 6-month-old baby weren’t home,” Masad said.

The scene where a drone fired from Lebanon hit a residential building, in the northern city of Nahariya, September 9, 2024. (Flash90)

They are part of the Hashomer Hatzair movement’s “urban kibbutz” network, which boasts 15 such projects around the country. The members are currently renting 10 apartments close to one another in the neighborhood. They moved from around the country to Nahariya last September, armed with idealism, hoping to help the community, launch initiatives that include informal educational programs, and foster civic participation along with political and social justice activism.

Masad said the members would hold a meeting on the evening of the attack. Asked if she knew of any kibbutz plans to help neighborhood residents, she said that first “we have to deal with it ourselves.” After, she said, they would talk about “what we want to do.”

A bathroom in a Nahariya apartment rented by urban kibbutz Ruth members, damaged in the Hezbollah drone attack on September 9, 2024. (Tal Masad)

Shaky quiet

As road crews cleaned up the shattered glass around the high-rise in the early afternoon, some of the building’s residents stood around outside, appearing dazed and shaken. One woman, who asked that her name not be used, smoked a cigarette and said the explosion was so loud that her apartment shook and her baby “cried hysterically.”

Slowly, the neighborhood, with its newly constructed playgrounds, seemed to return to an unsettled quiet.

“This is not a situation that anyone can get used to,” said Alina Avshalom, a mother of four who lives down the street from the damaged building. “All the residents in the north are anxious.”

She said that her 9-year-old son, Aviel, attends fourth grade at a school less than a half-mile from the drone strike. The students were “instructed that in the event of an alarm, they should go to the wall and put their hands on their heads because it’s impossible to get a large number of children down to the first floor in 15 seconds.”

Aviel Avshalom, left, with his mother Alina, and sister, Miel, near a building by a drone launched from Lebanon on September 9, 2024. (Diana Bletter/Times of Israel)

In a video announcement soon after the attack, Mayor Ronen Marelly spoke calmly to the city’s residents, urging parents to let their students stay in school until the end of the school day. But that did not stop many parents from rushing to get the children, Avshalom said, causing traffic jams and even more panic.

Avshalom does not have a car, she said, and had to “think twice” before she walked over to her son’s school, frightened that she could be injured in another drone attack.

“Only people who work far away didn’t come to pick up their kids,” she said. “I didn’t want my kids to be among the few left in school.” She added that “everyone sends their children to school every day with heavy hearts and great fear.”

Third Lebanon War

Just down the road from the neighborhood, Prof. Masad Barhoum, director of the Galilee Medical Center, said the hospital, which has run most of its facilities underground or in protected areas since soon after October 8, is “preparing for the Third Lebanon War.”

During the 2006 Second Lebanon War, Hezbollah fired close to 4,000 rockets into Israel, resulting in the deaths of 49 Israeli civilians as well as multiple soldiers. Barhoum said the hospital has been readying for the next war since the last one.

A bomb shelter in Nahariya painted by Lidia and Igor Katliarski (Lidia Katliarski)

Dr. Maron Haj, a thoracic surgeon who works at the hospital, said he was seeing patients when he heard his apartment, one floor below the urban kibbutz, was hit in the attack.

“Everything in our apartment was ruined,” he said as he stood near the building, gazing up at his apartment. He said that he had to go get the family dog, and then he and his wife would have to find somewhere else to stay.

“We can’t live there,” he said, and expressed frustration that “nobody from the government” called to “take responsibility” or to “try to help us.”

The members of the kibbutz are not politicians, Masad said, but “when it comes to fear, it doesn’t matter if you’re on the right or the left. Citizens want to live in security and not fear.”

end

ISRAEL.HAMAS

end

ISRAEL/HAMAS

RUSSIA/UKRAINE/

what planet is Austin on?

(zerohedge)

Austin Tells Zelensky: Long-Range Strikes in Russia Won’t Be A Game Changer

Monday, Sep 09, 2024 – 12:50 PM

In the latest $250 million weapons package for Ukraine approved and released by the Biden administration, noticeably absent were the longer range missiles which Zelensky has long been pleading for.

The package did include the typical HIMARS ammunition, air defenses, artillery rounds, and even some Stinger missiles, among other items, and was pulled through the Presidential Drawdown Authority, which draws from American military stockpiles. It is part of the $61 billion for Ukraine (out of the total $95 billion foreign military aid bill) singed into law by President Biden last April.

On the same day the $250 million weapons package was released (Friday), Secretary of Defense Lloyd Austin offered some rare pushed back against Kiev’s desperate requests to use US and Western weaponry to launch long-range strikes deep inside Russian territory.

Austin while at Ramstein airbase in Germany, where he met with officials representing states backing Ukraine, was asked if the US would allow long-range strikes on Russia. He responded by saying no one capability would be a game changer

“I don’t believe that one specific capability is going to be decisive,” he argued. “Our approach to integrating things and to making sure that they have the right skill sets to employ those capabilities and those capabilities are linked to specific objectives.”

“I think Ukraine has a pretty significant capability of its own to address targets that are well beyond the range of ATACMS or even Storm Shadow for that matter,” Austin continued, while also explaining that the Russian army has of late pulled back much of its military assets, leaving them out of range of the ATACMS systems, which can strike at a distance of about 190 miles.

“There are a lot of targets in Russia, a big country, obviously. And there’s a lot of capability that Ukraine has in terms of UAVs and other things to address those targets,” the US defense chief explained.

Still, at the Ramstein base meeting of the Ukraine Defense Contact Group, Zelensky made the appeal: 

“We need to have this long-range capability, not only on the divided territory of Ukraine, but also on the Russian territory, so that Russia is motivated to seek peace,” the Ukrainian leader said.

“We need to make Russian cities and even Russian soldiers think about what they need: peace or Putin.“

But the reality is that despite the Kursk incursion which has precisely sought to make ordinary Russians ‘think twice’ – nothing strategically has changed in the battlefield along the front lines in Donetsk. Weekend headlines were filled with accounts of Russian forces’ ongoing rapid advance in the east.

It appears that for now, no matter how loudly Kiev lobbies Washington, the consensus is that hitting deeper inside Russia has little or no upside and is full of downside, specifically of drawing NATO and Russia into a direct shooting war.

UKRAINE/RUSSIA

RUSSIA/UKRAINE

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

Moderna confirms mRNA COVID Vaccines cause Cancer – The Expose

ROBERT H:

“”Why is this company still operating?”

https://expose-news.com/2024/09/06/moderna-confirms-mrna-covid-vaccines-cause-cancer/

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

FDA official told me while I was at HHS under Trump that they could grant EUA before November 2020 (they had Pfizer, MODERNA findings) election BUT will not, will NOT give Trump ANY victory; you need

to understand how much the deepstate, democrats, RINOs, alphabet health agencies etc. were aligned against Trump; & I never supported the validity or safety of the Malone et al. mRNA vaccine BUT the

Dr. Paul AlexanderSep 9

READ IN APP

issue is they were determined at the FDA, to deny Trump any victory, any victory and so moved to stall and deny EUA before the election…I even replied that it is best if it took longer for safety assessment and to exclude harms and I was stunned when the official replied para ‘safety is not our concern, we are not concerned if it is safe at this point, we have moved the goal post to ensure Trump gets NO EUA…we are only interested in ensuring Trump gets NO win’…

the issue I raise is important for it shows you that even if this Malone mRNA vaccine was beneficial and not deadly (which it was and is very deadly, this Malone mRNA technology vaccine has been deadly and Malone, Bourla, Bancel, Sahin, Weissman et al. must sit in courts under oath to be deposed etc. to be held responsible and accountable), if it did help (and it did not), then the FDA as the top regulator, would have preferred to place Americans at risk and to die (delay authorization) IF this was indeed a severe microbe (turns out IFR of 0.04% persons 75 years and below and no healthy children dying of it, whatever it was) than to do their jobs as the regulator. They are so very politicized. The FDA operates today by placing Americans at risk and did place Americans at risk by delaying the EUA for political reasons, even as we found out that the Malone et al. mRNA vaccine was ineffective and harmful.

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

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Had the virus (or what it was, toxin, poison etc.) been of heavy mortality (which it was not) and had that Malone et al. mRNA vaccine actually worked (which it did not), then FDA would have partaken in the killing of Americans for political reasons.

In a way it was good what FDA did for the Malone death shot was not rolled out until after the election and swearing in of Biden and Harris who did go on to mandate it etc. And thus, the deaths do not fall on Trump’s hands even though he approved of the vaccine under OWS.

The sad reality is that the politicized FDA did grant EUA (emergency use authorization) approval for a Malone et al. mRNA vaccine that was ineffective and deadly.

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Caveat emptor; I warn again about OZEMPIC & Wegovy GLP-1 agonists (includes semaglutide); I warn, these were not tested as a weight loss drug & is showing dangerous side effects; pharma seeks to ONLY

make money…Caveat emptor, buyer beware; DO NOT use for weight loss! “I just feel like killing myself” is the reports by some on these drugs after use!

Dr. Paul AlexanderSep 9

READ IN APP

end

Steve Kirsch plan to make America healthy again WINS over Kennedy Jr.’s plan for ONE main reason! It did get a bit more votes but importantly, it focuses on the fraud of COVID & mRNA vaccines, you can

read the white spaces in Steve’s suggested plan and Bobby Jr.’s own is superb too but somewhere in there, laser beam focus against OWS, the lockdowns, the mRNA vaccine is thin; BRING it back RFK Jr.

Dr. Paul AlexanderSep 10

READ IN APP

Superb plan Bobby Jr.! Excellent, a broad approach…On the right track. You continue to be standup and thank you!

I am also calling on Bobby Jr. to be explicit, open, clear, declarative on his prior stance against OWS, the lockdowns, school closures etc. and the mRNA technology vaccine that has killed. He has gained lots of popularity standing with us against these. He has been noticeably silent on these particular issues of recent, and I know lots to do etc. But this is what the nation needs to hear. I imagine he will say lots soon on these. Bobby Jr., I admire you and IMO, you should be talking about accountability for the COVID mRNA vaccines. Now! The roll-out of the Malone et al. mRNA vaccines were harmful. Please Bobby Jr., you were ferocious before on the harms of the mRNA vaccines, that they should have never been mandated or brought without the safety data. Why is there a noticeable silence now? No one wants to be told their actions or policies, or mRNA vaccines killed people. But they did and we must say it in order to fix it! Huge praise Bobby Jr. Huge praise Steve.

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

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I liked this, these 2 plans (Kirsch and Bobby Jr.’s) and thus to be fair, I suggest these 9 additions (or joining) to Steve’s, or maybe joining Bobby Jr.’s to Steve’s plus my suggestions. There may be overlap. Good news is lots of what Steve has written I had been asked to send to Trump et al. prior (to help before the RNC and to add to the platform, though they were never placed in the platform and truth be told, that was not my decision to make) and I did months ago, and placed directly into the hands of those with Trump and under request by them so Trump knows these and has these…he will do good, I trust he would…we have to trust for IMO he remains a good man and the ONLY option…today! I worked for him in his prior administration and can tell you that he fought like an animal behind the scenes, he fought Fauci and Birx and CDC and Teachers Union etc.

Great scholarship by Kirsch and he has remained true as a fighter…thanks Steve!

Anyway, here are my additions (I have written about these extensively prior):

Dr. Paul Alexander’s plan

1)Make reversal of LIABILITY PROTECTION under PREP ACT a must and make it retroactive so that we can sue everyone linked to the COVID mRNA vaccine

2)Set up a victim compensation fund for anyone hurt by the lockdowns or mRNA vaccine

3)Set up a whistle blower entity so that doctors and scientists can come forward

4)Disband the existing 10% capture VAERS adverse event reporting system by the CDC and set up a novel system that is acutely focused on vaccine linked adverse effects and deaths for the next 20 years.

5)ensure that all linked to the COVID fraud of a PCR manufactured (0.05% IFR) non-pandemic and vaccine are criminally investigated in proper courts of law with judges etc.

6)Codify into law that no vaccine will ever be mandated in the USA (especially for work or school attendance) and the discussion will only ensue if there is a proven societal benefit

7)Make more primary care physicians available and with access to them

8)Lockdowns, school closures, mask mandates, business closures, social distancing rules, and all COVID measures failed and saved no one and thus POTUS Trump must ensure that lockdowns etc. are never applied in the USA again; abolish it as they did not work and can never work.

9)Compensate all persons who were laid off and lost their jobs because of the moot vaccine mandates

Steve’s suggestions:

Steve Kirsch’s plan

1. Let doctors be doctors instead of telling them what to do
2. Protect the free speech of doctors by prohibiting retaliation for anything that is said.
3. Get rid of the liability protection for vaccine manufacturers
4. Revoke the medical license for any doctor in America recommending any vaccine
5. End the mandates. Make it illegal to require vaccination as a requirement to attend school or work.
6. Replace the head of the CDC and FDA with someone who recognized the dangers early
7. Make all public health data publicly accessible, especially the record level data
8. Make it a criminal offense for drug companies to manipulate clinical trial data, commit fraud, or conceal evidence of a safety problem. Prosecute offenders.
9. Hold regular public debate forums inviting qualified scientists on both sides of an issue to debate to help resolve important questions like whether vaccines cause autism
10. Encourage Americans to stick with unprocessed foods and avoid added sugar (including HFCS).
11. Compensate victims of vaccine injury.
12. Make it a criminal offense for doctors to knowingly remain silent when people are being killed by a medical recommendation.
13. Criminally prosecute the people at the CDC who ordered William Thompson to destroy the evidence linking vaccines and autism and those who went along with the fraud. They should be locked up for the rest of their lives for what they did. We need to send a message that people will be held accountable for clear scientific fraud.

Bobby Jr.’s suggestions:

RFK’s plan

• Reform the Prescription Drug User Fee Act. Pharmaceutical companies pay a fee every time they apply for a new drug approval, and this money makes up about 75% of the budget of the Food and Drug Administration’s drug division. That creates a barrier to entry to smaller firms and puts bureaucrats’ purse strings in the hands of the pharmaceutical industry.

• Prohibit members of the U.S. Department of Agriculture Dietary Guidelines Advisory Committee from making money from food or drug companies. Ninety-five percent of the members of a USDA panel charged with most recently updating nutrition guidelines had conflicts of interest. This is from the same government that brought you a National Institutes of Health research finding that Lucky Charms are healthier than ground beef.

• Review direct-to-consumer pharmaceutical ad guidelines. The U.S. and New Zealand are the only countries that allow pharmaceutical companies to advertise directly to the public. News channels are filled with drug commercials, and reasonable viewers may question whether their dependence on these ads influences their coverage of health issues.

• Change federal regulation so that NIH funds can’t go to researchers with conflicts of interest. A 2019 ProPublica analysis of disclosures going back to 2012 found that over 8,000 federally funded health researchers reported significant financial conflicts of interest.

• Level the playing field for Americans internationally on drug costs. Today in Germany, Ozempic costs less than a tenth of what it does in the U.S. because while Berlin negotiates prices on behalf of all Germans, Washington can’t do the same. Legislators should cap drug prices so that companies can’t charge Americans substantially more than Europeans pay.

• Stop allowing beneficiaries of the Supplemental Nutrition Assistance Program to use their food stamps to buy soda or processed foods. Nine percent of all SNAP funding goes to sweetened drinks, according to 2011 data. It’s nonsensical for U.S. taxpayers to spend tens of billions of dollars subsidizing junk that harms the health of low-income Americans.

• Revisit pesticide and other chemical-use standards. As of 2019, the U.S. allowed 72 pesticides that the European Union bans. We also allow chemicals in food and skin care that the bloc doesn’t. Some of these chemicals are quite common to our daily lives. Though glyphosate isn’t currently banned EU-wide due to disagreement between member states, it’s approved for use only through the end of 2033, when the issue will be revisited. Meanwhile in the U.S. the University of California, San Francisco, in 2015 found the chemical in 93% of the urine samples it studied.

• Require nutrition classes and functional medicine in federally funded medical schools. Today, 7 out of 10 of the leading killers of Americans are chronic diseases that are preventable, sometimes through improved eating habits. Yet about 80% of medical schools don’t require a course in nutrition.

• Reform crop subsidies. They make corn, soybeans and wheat artificially cheap, so those crops end up in many processed forms. Soybean oil in the 1990s became a major source of American calories, and high-fructose corn syrup is everywhere. Our subsidy program is so backward that less than 2% of farm subsidies go to fruits and vegetables.

• Issue new presidential fitness standards. My uncle John F. Kennedy was right in 1960 when he wrote, “The physical vigor of our citizens is one of America’s most precious resources.” The Presidential Fitness Test that President Obama ditched should be reinstated.

• Devote half of research budgets from the NIH toward preventive, alternative and holistic approaches to health. In the current system, researchers don’t have enough incentive to study generic drugs and root-cause therapies that look at things like diet.

• Increase patient choice by giving every American a health savings account. HSAs are a bipartisan healthcare policy that saves Americans money and gives them financial support in healthcare outside insurance. In many cases, food and exercise interventions are clinically the best medicine. With an HSA, a pre-diabetic can choose with his doctor whether to devote medical dollars to a drug like metformin or a root-cause intervention like a gym membership.

SLAY NEWS

Government Vaccine Scientist Blows Whistle: Covid Shots Were Planned for 20 YearsA former government vaccine scientist has come forward to blow the whistle, revealing that Covid mRNA shots had been in development for 20 years before the pandemic emerged.READ MORE

Scientists Raise Alarm as New ‘Neurological Emergency’ Surges Among Covid-VaxxedScientists have issued a disturbing warning over a new “neurological emergency” that has begun surging among people “vaccinated” with Covid mRNA shots.READ MORE

New York City Paying Illegal Aliens $4000 Each to Move Out of SheltersDemocrat-controlled New York City is giving illegal aliens taxpayer-funded $4,000 payments to move out of migrant shelters.READ MORE

Biden-Harris White House Hit with Lawsuit for Censoring Americans OnlineThe White House has been hit with a lawsuit over allegations that President Joe Biden and Democrat presidential nominee Kamala Harris used a proxy to demand social media companies censor the American people online.READ MORE

Elise Stefanik Files 2nd Ethics Complaint against Trump’s ‘Hush Money’ Judge over Links to Harris CampaignHouse Republican Conference Chairwoman Elise Stefanik (R-NY) has filed a new ethics complaint against the Democrat judge overseeing President Donald Trump’s “hush money” case.READ MORE

RFK Jr Has Name Withdrawn from Wyoming Ballot in Another Big Win for TrumpRobert F. Kennedy Jr. has spent the past several weeks attempting to have his name removed from several state ballots after suspending his presidential campaign and throwing his full support behind President Donald Trump. READ MORE

Pro-Hamas Students Protest Hillary Clinton Teaching at Columbia University: ‘Fascist Bootlicker’Twice-failed Democrat presidential candidate Hillary Clinton has been met with pro-Hamas protests at Columbia University where she is teaching.READ MORE

EVOL NEWS

WATCH: Trump speaks at rally in Mosinee, Wisconsin * WorldNetDaily * by WND Staff – EVOL

Read more…

WATCH: AOC Humiliated After Former Liberal Presidential Candidate Rips her Online – EVOL

Read more…

House GOP Introduces Stopgap Bill to Avert Government Shutdown, Block Noncitizen Voting – EVOL

Read more…

The ideal penis size revealed, according to women – EVOL

Read more…

NEW: Top Two Liberal Anchors At ABC Reportedly In Civil War – EVOL

Read more…

Repeated Takes, Coaching on Lines: Inside Hamas’s Hostage Video Machine – EVOL

Read more…

‘Horizon: An American Saga – Chapter 2’ Review: Kevin Costner’s Homage To Westerns Is Visually Impressive, But The Story Doesn’t Come Together – EVOL

Read more…

BOMBSHELL texts from Georgia school shooter’s mother revealed – EVOL

Read more

Study Links Covid mRNA Shots to Blood Cancer SurgeA group of leading medical researchers has uncovered evidence linking Covid mRNA shots to a recent surge in cases of lymphoma.READ MORE

CDC Pushes for Babies to Get 3 Unlicensed Covid mRNA Shots by 9 MonthsThe U.S. Centers for Disease Control and Prevention (CDC) has issued new guidance pushing for babies to receive three unlicensed Covid mRNA shots before they are nine months old.READ MORE

Top Entrepreneur Warns Democrats Will Destroy America with Anti-Trump LawfareAcclaimed entrepreneur Naval Ravikant has warned that the Democrats’ ongoing efforts to attack President Donald Trump with lawfare are threatening to destroy America.READ MORE

Republicans Demand Biden-Harris Admin End ‘Subsidization’ of Data Brokers after Massive HackRepublicans have called on the Biden-Harris administration to end the federal government’s support of data brokers for handling sensitive information for American citizens.READ MORE

Jack Smith’s Anti-Trump Jan 6 Trial Postponed Beyond Election DaySpecial Counsel Jack Smith’s Jan. 6 lawfare trial against President Donald Trump, originally scheduled before the 2024 presidential election, has officially been postponed.READ MORE

Pollster Frank Luntz: ‘Honeymoon Period Is Officially Over’ for Kamala HarrisTop pollster Frank Luntz has issued a warning to the Democrats that the “honeymoon period is officially over” for Vice President Kamala Harris.READ MORE

Atlanta Rapper Rich Homie Quan Dies Suddenly at 34Atlanta rapper Rich Homie Quan has died suddenly, his family has revealed.READ MORE

Kennedy Secures Major Legal Victories for Trump in Two Battleground StatesRobert F. Kennedy Jr. has just secured two significant wins over Democrats on behalf of President Donald Trump.READ MORE

Jane Fonda: ‘Orange Man’ Trump ‘Puts People Who Don’t Agree with Him in Jail’Leftist Hollywood actress Jane Fonda spread wild conspiracy theories about President Donald Trump during a speech to overseas Democrat voters.READ MORE

Democrat Gov Gretchen Whitmer: Polls Showing Harris Leading Trump in Michigan Are ‘Just Not True’Michigan’s Democrat Governor Gretchen Whitmer has firmly rejected polls showing Vice President Kamala Harris leading the presidential race in the Great Lakes State.READ MORE

BREAKING: Trump’s ‘Hush Money’ Sentencing Delayed Until After ElectionThe sentencing hearing for President Donald Trump’s “hush money” case has been delayed until after the election.READ MORE

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIES

Scientists Discover ‘Off Switch’ to ‘Reverse’ Covid VaccinesScientists have just made a historic announcement after discovering a critical “off switch” for Covid mRNA “vaccines.”READ THE FULL REPORT

BREAKING: DeSantis admin now checking for FRAUD among signatures for abortion amendmentThe Governor Ron DeSantis administration has just begun an investigation of around 36,000 signatures that were used to get the horrible abortion amendment on the ballot in Florida. Deputy Secretary of State for legal affairs and elections integrity Brad McVay is the one who began the investigation, suggesting that certain petition circulators are either known or suspected fraudsters. Here’s more …READ THE FULL REPORT

JD Vance SCHOOLS critic on X with detailed policy proposal on lowering cost of childcareJD Vance answered a question from Charlie Kirk about lowering the high cost of childcare and here’s his response.READ THE FULL REPORT

Trump announces lower corporate tax rate for companies who make products in AmericaIn his speech at the Economic Club of New York, President Trump outlined how he’s going to make America great again and he just made a great announcement that will do just that.READ THE FULL REPORT

CNN exposes Kamala Harris for using Trump’s border wall in her ads [VIDEO]CNN just exposed Kamala Harris for using Trump’s border wall in her ads.READ THE FULL REPORT

LATEST REPORTS FOR NEWS JUNKIES

Major Study: Heart Deaths Skyrocket Among Covid-VaccinatedA major study has found that deaths caused by heart failure have skyrocketed to “unprecedented” levels among people who have received Covid mRNA shots.READ THE FULL REPORT

BREAKING: CNN reveals more radical positions from Kamala via 2019 ACLU questionnaire…CNN’s KFile reporter has just revealed more radical positions from Kamala Harris via a 2019 questionnaire she filled out that came from the ACLU. In it they reveal she supported “taxpayer-funded gender transition surgeries for detained immigrants” and drastic cuts to ICE along with many others: NEW on CNN: On a 2019 ACLU questionnaire Kamala Harris said she supported taxpayer-funded …READ THE FULL REPORT

BREAKING: James Earl Jones dead at 93James Earl Jones, the iconic voice of Darth Vader in Star Wars, has just died this morning in his home at the age of 93. Here’s more from Deadline: James Earl Jones, the revered actor who voiced Star Wars villain Darth Vader, starred in Field of Dreams and many other films and Broadway shows and is an EGOT winner, died …READ THE FULL REPORT

BREAKING: The latest Nate Silver forecast is out and it’s more good news for Trump…The latest Nate Silver forecast has just come out and Trump continues to rise while Kamala’s chances of winning the election are crashing. According to the forecast, Trump is nearly at a 65% chance of winning the election. Here’s more from Interactive Polls: #Latest @NateSilver538 Forecast (9/9)  Trump: 64.4% (new high) Harris: 35.3%——Swing States: chance of winning: Pennsylvania – …READ THE FULL REPORT

BREAKING: Ohio Attorney General looking for legal ways to stop Joe and Kamala frump dumping illegals in OhioWe posted earlier today on the Haitian illegal immigrant crisis in one Ohio community and it’s terrible. The town of 60k is overwhelmed by 20k migrants sent there by Joe and Kamla and the Ohio Attorney General is now looking for a legal way to put a stop to this. Ohio Attorney General Dave Yost says “We’re going to find …READ THE FULL REPORT

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

Brent Tumbles Below $70 As Hedge Funds Least Bullish Oil On Record

Tuesday, Sep 10, 2024 – 10:39 AM

Oil just had its worst week in almost a year, and the new week is starting off just as bad amid concerns about oversupply and lack of demand by China, which now appears willing to risk a middle-class revolution – as employment tumbles and consumer confidence has never been lower – rather than stimulate the economy.

Brent tumbled ~10% last week even after OPEC+ postponed its supply hike by two months (amusingly it would have tumbled even more had OPEC+ not delayed its supply hike). Still, given plans to revive 2.2m b/d over the course of a year remain in place, the delay means they are simply kicking the can down the road. And then on Tuesday, it dumped another 2%, sliding below $70 for the first time since 2021, as part of oil’s now daily 10am slam, and as hedge funds are convinced there will be a soft-landing everywhere, certainly in chatbots, except in commodities where the hard-landing will somehow surpass the global financial crisis.

And even though commercial stockpiles tumbled to 2024 lows, market watchers – at least those who have no idea of what is actually taking place in the market – see stockpiles “building” through year-end and into 2025, according to Bloomberg, which forgot to turn off sarcasm mode.

Meanwhile, production has been on the rise stateside, muting OPEC+ efforts to restrain supply, but that’s only to keep up with demand which – and one wouldn’t know this from looking at the price – is also steady and rising. Macquarie sees record US output of 13.9m b/d in 2024, with rigs in the Permian and Bakken basins producing more efficiently. Baker Hughes data show crude rigs have been edging up since their July lows.

It’s hard to fight this bearish mood — in a market that has failed to push higher in a sustained manner despite geopolitical tensions, a testament that demand woes overshadow other drivers.

As the latest sign of weak demand, Saudi Arabia cut pricing of its flagship crude grade for its main market in Asia next month.
The silver lining: hedge funds have once again restarted slashing bullish oil bets, with net longs tumbling to a record low. Usually this marks the bottom.

As energy expert John Kemp writes, hedge funds and other money managers sold the equivalent of 117 million barrels in the six most important futures and options contracts over the seven days ending on September 3.

The combined position was reduced to just 93 million barrels, the lowest for at least a decade. Fund managers were sellers across the board, including NYMEX and ICE WTI (-66 million barrels), Brent (-38 million), European gas oil (-9 million), U.S. diesel (-3 million) and U.S. gasoline (-1 million).

Negative sentiment extended to refined fuels, with extremely bearish positions across gasoline and especially in diesel and other middle distillates.

Funds had sold middle distillates in seven of the most recent nine weeks, slashing their position by 123 million barrels since the start of July. 

Bearishness across all crude and fuels contracts showed investors bracing for a further deceleration in consumption growth, amid signs of a downturn in manufacturing across the United States, Europe and China.

The most recent positions were reported two days before Saudi Arabia and its OPEC⁺ allies announced on September 5 that they would postpone scheduled output increases for two months.

Prior to the announcement, positioning had become extremely stretched on the downside, creating conditions for a sharp price rebound if and when fund managers trim bearish short positions and start to rebuild bullish long ones.

For the moment, however, sentiment has remained very negative, with investors focused on the threat of an industrial downturn pushing prices down even more. Even the OPEC⁺ announcement failed to arrest the downtrend as traders interpreted it as confirming the deteriorating consumption outlook.

Inflation-adjusted front-month WTI prices have slumped to an average of $69 per barrel so far in September, the lowest since early 2021, when the coronavirus pandemic was still raging, with real gas prices nearing record lows as the Harris/Biden oil trading desk does everything in its power to slam commodity prices as low as possible ahead of the election.

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

Brazil/Elon Musk

END

BRAZIL

END

VENEZUELA/USA

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

EURO VS USA DOLLAR:  1.1038 DOWN 0.0005

USA/ YEN 143.05 UP 0.012 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 1.3043 DOWN .0025

USA/CAN DOLLAR:  1.3572 UP .0013 (CDN DOLLAR DOWN 13 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED UP 7.70 PTS OR 0.28%

 Hang Seng CLOSED UP 37.13 PTS OR 0.22%

AUSTRALIA CLOSED UP .0.31 %

 // EUROPEAN BOURSE:     ALL MIXED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL MIXED

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 37.13 PTS OR 0.22 %

/SHANGHAI CLOSED UP 7,70 PTS OR 0.28%

AUSTRALIA BOURSE CLOSED UP 0.31%

(Nikkei (Japan) CLOSED DOWN 56.59 PTS OR 0.18%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2505.10

silver:$28.44

USA dollar index early MONDAY  morning: 101.59 UP 7 BASIS POINTS FROM  MONIDAY’s CLOSE.

TUESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  TUESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.796%  DOWN 1 in basis point(s) yield

JAPANESE BOND YIELD: +0.898% UP 4 AND 4/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.99 DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.540 DOWN 2 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.1431 DOWN 4 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR TUESDAY  

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

Euro/USA 1.1049 DOWN .0027 OR 27 basis points

USA/Japan: 142.81 UP 0.635 OR YEN IS UP 96 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE EXPLODES AGAIN TODAY

Great Britain 10 YR RATE 3.927 UP 1/2 BASIS POINTS //

Canadian dollar DOWN .00009 OR 9 BASIS pts  to 1.3572

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED DOWN AT 7.1191 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.1314)

TURKISH LIRA:  34.05 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.898

Your closing 10 yr US bond yield DOWN 2 in basis points from MONDAY at  3.690% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.003 DOWN 3 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.658 DOWN 3 BASIS PTS.

GOLD AT 11;00 AM 2506,00

SILVER AT 11;00: 28.20

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

London: CLOSED DOWN 64.86PTS OR 0,78%

German Dax :  CLOSED DOWN 177.64PTS OR 0.96%

Paris CAC CLOSED DOWN17.71 PTS OR 0.24%

Spain IBEX CLOSED DOWN 69,30 OR 0.61%

Italian MIB: CLOSED DOWN 377,05 OR 1.12

WTI Oil price  70.13 12EST/

Brent Oil:  73.40 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  90.83 ROUBLE DOWN 0 AND  24/100      

GERMAN 10 YR BOND YIELD; +2.1434 DOWN 2 BASIS PTS.

UK 10 YR YIELD: 3.880 DOWN 4 BASIS POINTS

CDN 10 YEAR RATE: 2.955 DOWN 6 BASIS PTS.

CDN 5 YEAR RATE: 2.793 UP 1

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1026 DOWN 0.0011   OR 11BASIS POINTS

British Pound: 1.3086 UP 0.0013OR 13 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.822 DOWN 7BASIS PTS//

JAPAN 10 YR YIELD: 0.898

USA dollar vs Japanese Yen: 142.33 DOWN .713 YEN UP 71 BASIS PTS//

USA dollar vs Canadian dollar: 1.3602 UP 0.0043/CDN dollar DOWN 43 BASIS PTS

West Texas intermediate oil: 66.56

Brent OIL:  69,50

USA 10 yr bond yield DOWN 5 BASIS pts to 3.644

USA 30 yr bond yield DOWN 3 BASIS PTS to 3.961%

USA 2 YR BOND: DOWN 6 PTS AT  3.605

CDN 10 YR RATE 2.971 DOWN 6 BASIS PTS

CDN 5 YEAR RATE: 2.742 DOWN 5

USA dollar index: 101.51 DON 6 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.074GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  90.9DOWN 0 AND  42 //100 roubles

GOLD  2,515.30 3:30 PM

SILVER: 28.40 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: DOWN 92.63 PTS OR 0.23%

NASDAQ UP 168.36PTS OR 0.90%

VOLATILITY INDEX: 19.08 DOWN 0.37 PTS OR 1.96%

GLD: $232.62UP 1.02OR 0.44%

SLV/ $25.94 UP .08 OR 0.38%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Stocks, Bullion Bounce, Banks Battered As Brent Busts Before Debate

by Tyler Durden

Tuesday, Sep 10, 2024 – 04:07 PM

With both the presidential debate and CPI prints on deck, traders were not in an adventurous mood today, and after a rocky last few days of trading, where stocks first dropped 1.7% Friday only to rebound 1.2% on Monday, Tuesday saw a mini rollercoaster, as emini futures first dropped, then gained, only to slide to session lows after Europe closed, before recovering all losses and closing near session highs, and just around 5,500, a key psychological resistance level.

Today’s moves were so phlegmatic that not even the 0DTE crew tried to move stocks much either way.

And speaking of phlegmatic, this is how Goldman’s trading floor described today’s market “uninspiring tape and eerily quiet intraday trading (again) which is concerning…… no smoking gun on this sharp move lower but feels like risk is to the downside in an illiquid and low volume tape. Tonight’s must watch debate between Kamala Harris and Donald Trump has unnerved investors more than before the June event with Joe Biden.”

The market got some much needed tailwind thanks to Oracle, which surged to an all time high after reporting solid results…

… and supported the AI trade just as it was about to crack the most important long-term support levels.

Strength in Mega Cap Tech, up 1.3%, helped offset the cyclical weakness: AI Winners were up 70bp, while Defensives rose 35bp, with the bid led by Wireless, Utilities and Real Estate.

Which is not to say there were no casualties: banks got crushed after first Goldman and then JPMorgan warned that Q3 revenues and the full year Net Interest Income outlook would likely disappoint, sending their stocks sharply lower…

… with the largest US bank at one point tumbling the most since the covid crash. A far more ominous plunge, however, took place at Ally Financial: one of the largest US auto loan lenders finally admitted what everyone else knew already: both delinquencies and charge offs are surging, and results in one of the biggest drop in ALLY stock on record.

The rest of the market was generally solid and closed in the green, with the exception of energy…

… and with good reason: ahead of today’s presidential debate where inflation and the price of various goods will be a key topic, it was imperative that oil be hammered, and sure enough, Brent plunged 3.3%, one of its biggest one-day drops of 2024, sending the price to 2021 levels.

Of course, the last time oil was here, it then promptly doubled int he next 3 months, and while another war doesn’t appear imminent, the fact that hedge funds are the most bearish on oil they have ever been…

… suggests that a historic short squeeze may be looming, especially since Goldman warned that while financial demand may be low (boosted by historic shorting), physical demand remains quite resilient.

As such, it wouldn’t take much work by Saudi Arabia and OPEC+ to spark a massive squeeze, an April 2020 in reverse if you will, as all those who are short oil are unable to find deliverables to cover. And so we wait.

Oil and banks aside, however, the action remained choppy at the index level with no change to the broader narrative even as micro headlines pick up. As UBS notes, “the market remains surprisingly resilient despite the increased activity in equity capital markets and high yield issuance, Election uncertainty and growth concerns with crude oil down 4%. Brent dropped below $70 for the first time since December 2021 after China’s weak import data adds to oversupply concerns .”

UBS warns that “a lack of liquidity is contributing to the choppiness. Lots of investors remain on the road attending various conferences and the uncertainty around the Fed cut pace and the election is keeping investors on the sideline and will not go away near term.” And the punchline: “investors are already set up very defensively (look at recent action in defensives like Staples and Wireless names ) and/or there is plenty of cash on the sidelines as last week’s healthy equity capital markets activity and performance showed.”

Defensive is correct, and one need look no further than the record takedown by foreign (Indirect) buyers in today’s 3Y auction…

… which led to continued buying on the short-end, and pushed the 2s10s curve – which until last week had just emerged from the longest stretch of inversion on record – to the most steep it has been since the summer of 2022.

Bonds were not the only “flight to safety”: so was bullion, which extended its rebound from Friday’s swoon to trade just shy of its record high…

… and even bitcoin appears to once again be catching a more solid bid.

And now, all attention turns to the bloodbath that will be the Kamala-Trump debate in a few hours.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

Consumer still spending. Savings rate plummet!

(zerohedge)

In “Last Hurrah”, Credit Card Debt Unexpectedly Soars Despite Record High APRs As Savings Rate Hits Record Low

Monday, Sep 09, 2024 – 07:20 PM

One month ago, when multiple discount retailers (here and here) were lamenting the sudden collapse in US consumer purchasing power, we observed the reason this unexpected hit to US consumption: as the US personal savings rate had collapsed, the growth in consumer credit was slowing, and in July, credit card debt growth posted its first decline since the covid crash, just in time for another month of record high credit card rates.

But fast forwarding just one month later, when in a stunning reversal, July consumer credit growth unexpectedly reversed the dramatic June slowdown, and soared more than $25 billion, to a new record high of $5.093 trillion.

Looking at the components, the sudden spike in revolving credit was most notable as credit card debt growth suddenly reversed its recent slowdown, surging by $10.6 billion, the biggest monthly increase since February and the 2nd biggest of the year.

But what may be even more notable is that after two years of gradual declines in the monthly rate of increase, non-revolving credit suddenly surged by almost $15 billion, ir biggest increase since June 2023 and second biggest since late 2022!

A closer look at the surge reveals that in Q2 there was also a reversal in the two components that make up non-revolving credit as total student debt unexpectedly dropped by $8.3 billion to $1.745 trillion, a reversal from the $24.2 billion increase in the previous quarter. At the same time, Car Loans accelerated, and after declining by $0.8 billion in Q1, rose by $8.5 billion in the second quarter.

And while the Fed’s first rate cuts is not just a matter of time, with Powell expected to cut the Fed Funds rate by 25bps on Sept 18, we have previously observed just how sticky consumer credit is on the way up, and how slow it is to decline on the way down. Sure enough, the sudden surge in credit card debt was a big surprise because according to the Fed, the average rate on interest-bearing credit card accounts just hit a new record high of 22.76%, which is a vivid reminder that while banks are happy to hike credit card rates, they rarely if ever cut them.

Yet with consumers ever more strapped for actual cash and equity, as the personal savings rate in the US collapses from over 5% to 2.9% – the lowest since the Lehman bankruptcy – in just one year, as all the excess savings from covid are long gone…

… there is only so much more credit card maxing out that can take place before reality finally sets in, as can be seen in the next and perhaps most striking chart yet: total credit card debt is at an all-time high while the personal savings rate is record low!

Then again, with the election less than two months away – one which ensures that any credit-card fueled spending must be encouraged – don’t be surprised if the White House directly orders banks to just ignore soaring delinquency and charge-off rates…

… only for the credit shock hammer to fall on the first day of Trump’s new presidency.

end

III  USA ECONOMIC COMMENTARIES

GUCCI/WASHINGTON DC

Looting Hits Gucci Store In DC As Chaos Breaks Out In City Center & Georgetown Areas

Tuesday, Sep 10, 2024 – 09:05 AM

The Washington Post confirms “incidents of looting and vandalism” in Georgetown, City Center, and other parts of Washington, DC, in the overnight hours. 

The Metropolitan Police Department (MPD) released a statement that said, “Overnight, groups of individuals decided to destroy property and burglarize businesses throughout our city, specifically in the City Center and Georgetown areas, along with a store in the H Street Corridor, a store in Logan Circle, and a store north of Columbia Heights.”

“We immediately increased our police resources in the impacted areas. Preliminary, MPD is investigating six burglaries and six destruction of property offenses in those area,” police said. 

witter.com/rawsalerts/status/1833357079588860045?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E183

Footage of the looting was uploaded to X. Citizen journalists reported that rioters stormed a Gucci store and other brick-and-mortar shops.

Half of #DCPD in City Center DC after a mob tried breaking in to high end shops and/or protest against something @PenguinSix @wusa9 #DCCityCenter #CityCenterDC pic.twitter.com/cZ5S3rBL89

— Felipe Rojas (@frojasgamboa) September 10, 2024

twitter.com/MarioNawfal/status/1833370899380048279?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1

WaPo explained, “The police statement did not specify a reason for the disorderly incidents. However, they came hours after police released body-camera video of the incident this month in which officers fatally shot a violence interrupter.” 

Right, because the first response is to loot a Gucci store.

This was only made possible by Biden-Harris’ ‘new way forward’ of so-called change, quickly spiraling the nation into chaos.

end

Democrat Supreme Court blocks RFK Jr bid to remove his name after fighting to not have his name on the ballot. What nonsense

(zerohedge)

Michigan Supreme Court Blocks RFK Jr.’s Bid To Remove Name From Ballot

Tuesday, Sep 10, 2024 – 08:40 AM

Authored by Tom Ozimek via The Epoch Times,

The Michigan Supreme Court has denied Robert F. Kennedy’s request to have his name removed from the state’s general election ballot, reversing a lower court ruling and closing the last legal avenue available to Kennedy in the case.

In a split 5–2 ruling issued on Sept. 9, the Michigan Supreme Court reinstated the original ruling by the Michigan Court of Claims, which denied Kennedy’s motion for mandamus relief, an extraordinary legal remedy that requires a plaintiff to demonstrate a clear legal right and that the defendant, in this case the Michigan Secretary of State, has a clear duty to act.

The high court ruled that Kennedy did not provide a clear legal basis requiring the removal of his name from the November ballot and failed to identify a law that would leave no room for discretion in this matter on the part of election officials.

“Plaintiff has neither pointed to any source of law that prescribes and defines a duty to withdraw a candidate’s name from the ballot nor demonstrated his clear legal right to performance of this specific duty, let alone identified a source of law written with ‘such precision and certainty as to leave nothing to the exercise of discretion or judgment,’” reads the majority opinion, which reversed an appeals court’s decision that sided with Kennedy and reinstated the lower court’s decision that dismissed his request with prejudice.

Michigan Supreme Court Justices Brian K. Zahra and David F. Viviano dissented. They argued that there was no statute prohibiting Kennedy from withdrawing from the election and no practical reason to deny Kennedy’s request to remove his name from the ballot before ballots were printed. Their dissent focused on harm to voters, contending that keeping Kennedy on the ballot would confuse voters and distort the true electoral choice.

“There is, however, a significant cost to the integrity of the election: the voters will be improperly denied a choice between persons who are actually candidates, and who are willing to serve if elected,” the dissenting justices wrote.

“The ballots printed as a result of the Court’s decision will have the potential to confuse the voters, distort their choices, and pervert the true popular will and affect the outcome of the election.”

Days before the Supreme Court decision, the Michigan Court of Appeals argued that Kennedy had a “clear legal right” to withdraw, emphasizing that no specific statute prevented a presidential candidate from stepping down, even one nominated by a minor party.

Kennedy, who had been nominated by the Natural Law Party, withdrew from the presidential race on Aug. 23 and endorsed former President Donald Trump. At the time, Kennedy said he wanted his name removed in key swing states so as not to draw votes away from the former president.

“In about 10 battleground states where my presence would be a spoiler, I will remove my name and urge voters not to vote for me,” Kennedy said.

Michigan Secretary of State Jocelyn Benson’s office initially refused Kennedy’s withdrawal request, citing state law that restricts minor party candidates from withdrawing after being nominated at a state convention. Benson’s office also argued that Kennedy’s withdrawal request was too close to the ballot printing deadline.

Kennedy sued over the Secretary of State’s refusal to remove his name from the ballot, with the Michigan Court of Claims ruling against him and the Michigan Court of Appeals later ruling in his favor, prompting Benson’s office to appeal the decision to the state Supreme Court.

Neither Kennedy’s campaign nor Benson’s office returned a request for comment on the ruling.

The ruling could have implications for the presidential election, as reports have shown that in swing states like Michigan, Kennedy would take more votes away from Trump than Vice President Kamala Harris.

The decision echoes similar legal battles in other states, including North Carolina and Wisconsin, where Kennedy has faced opposition to his ballot withdrawal requests.

end

How Government Debt Is Killing The US Dollar

Tuesday, Sep 10, 2024 – 06:30 AM

Authored by Daniel Lacalle,

«The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring temporary prosperity; both bring permanent ruin. But both are the refuge of political and economic opportunists.” 

– Ernest Hemingway

The United States federal debt has soared to $35.3 trillion. In less than a year, the federal government has increased its debt by $1.9 trillion. This occurred during years of record tax revenues and economic growth.

If the current administration remains in power, the Treasury’s own estimates predict an additional $16 trillion increase in debt by 2034, without accounting for any recession or slowdown in tax receipts. According to the CBO, the Kamala Harris economic plan would add another $1.9 to $2,2 trillion to the national debt.

The Harris campaign has not even bothered to discuss a plan to balance the budget. She just said that “efficiency” and the old fallacy of taxes to the rich would pay for the increase in spending—two things that have proven to do nothing to the ballooning debt and that do not even start to scratch the already unsustainable $2 trillion deficit.

This reckless increase in debt is happening in a growth period. However, if we adjust for government debt accumulation, 2021 to 2024 were the worst years of growth adjusted for debt since the thirties.

In a recent article, Claudia Sahm stated that you should not worry about debt.

“Debt is neither inherently good nor bad. As such, the question is not what’s the right level of borrowing, but rather what’s the economic return on the borrowing or the societal goals it advances.”

She continues to say that “the government can easily service its debt because of its unlimited taxing authority and ability to issue more U.S. Treasury securities to repay maturing securities”

(“The US debt is now $34 trillion. Don’t worry. Seriously”. January16, 2024).

Now you must worry. A lot.

Let us start with the benign idea of “economic return on borrowing and societal goals.”

The evidence from the United States indicates that the economic return is extremely low. Entitlement spending has not strengthened the economic growth path, and debt continues to rise faster than GDP. It is true that debt is not inherently bad, but unproductive borrowing is. It is a massive transfer of wealth from the productive sector to the bloated bureaucratic state. Furthermore, the societal goals cannot be unlimited. The government must administer and not just add expenditures to previous expenditures, particularly when there is no realistic analysis of the success or failure of government programs. The idea that a particular government program is beneficial is not enough to add it to the budget without reducing other expenses. Not even a benign view of government spending as Sahm’s can justify that every government expenditure item today is essential. Furthermore, we must always understand that governments do not give money for free. They tax the productive sector and borrow, which means printing a currency that is constantly losing purchasing power. Therefore, the government is not advancing societal goals by borrowing without control; it is implementing a profoundly regressive policy that creates a dependent subclass and makes it increasingly difficult for the middle class to thrive.

It is false that the government has “unlimited” taxing authority and the ability to issue more debt, i.e., print money. The government has economic, fiscal, and inflationary limits. Economic because constantly increasing taxation leads to stagnation and more debt; fiscal because expenditures are consolidated and annualized, while tax receipts are cyclical; and inflationary because the constant issuance of new currency, which is what happens when more debt is issued, leads to the loss of confidence in the currency and the erosion of its purchasing power. If what Sahm and Kelton state were true, the euro area and Japan would be examples of high growth and economic strength, but they are examples of stagnation, high debt, and rising social discontent.

The government does not set taxes to fund its incessant spending habits. Taxes should be set according to the economic reality of an economy. The fallacy of taxes to the rich and corporations does not even address the ballooning deficit and erodes economic growth and productive investment.

When someone tells you not to worry about record debt, you should be extremely concerned. When they say that the government has unlimited resources, they mean that you will pay by becoming poorer with more taxes, more inflation, lower growth, or all three at the same time.

When they tell you that $35 trillion of debt is peanuts compared with $142 trillion of American wealth, they are saying that the government will be pleased to absorb the wealth of the economy. You will pay.

When they tell you that tax cuts are the problem, it comes from the perspective that the private sector is an ATM at the disposal of governments. Tax cuts do not reduce revenues, just as tax hikes do not raise them forever. Tax cuts adjust the taxable base to the real economy in order to encourage more investment and growth. Tax cuts are not a loss for the government; they are a win for the economy. It is simply a return of funds to those who have earned them. The idea that funds are better in the hands of the government than in the pockets of those who earned them is confiscatory. It is ludicrous to think that the government knows better than the private sector where and how to spend money. Additionally, it is insane to believe that the government will not squander the funds and bloat the administrative costs. Furthermore, it is foolish to assume that corporations and the affluent will hoard unused funds. There is no such thing as idle money. Capital markets and the private banking sector invest all of their earnings in a productive economy. If Sahm is concerned about economic returns and social advancements, she should advocate for the private sector to retain a larger portion of the earned money, as they will allocate it to the most advantageous investments.

Inflation is a form of default in which the government transfers its imbalances to those who receive their salaries in currency. This is the most regressive form of taxation, primarily affecting the poorest. When governments ignore the real demand for the money they issue, confidence in the currency disappears. Developing countries do not issue debt in foreign currency because they are stupid, but because there is no international demand for their local currency.

Economists like Sahm and Kelton assume that the US dollar will have eternal and unlimited demand, and, as such, the US government can export inflation to the rest of the world through the loss of the purchasing power of the currency it issues. However, global central banks are reducing their holdings of US dollars (US treasuries). International demand is declining, and the limits I mentioned before are already evident.

The US is showing its economic limit, as evidenced by the significant slowdown despite a record deficit and government so-called stimulus. The US is also demonstrating its fiscal limits as the government persists in raising taxes, resulting in significantly lower tax receipts than anticipated and an interest expense bill that has escalated to $3 billion daily. Additionally, a 20% increase in inflation over the previous four years, a 30% increase in the price of basic groceries, and persistent inflation—exemplified by the ongoing decline in the purchasing power of the US dollar—make the inflationary limit clear.

What Harris is doing as vice president and intends to continue doing if she becomes president is to continuously test the patience of the world and national citizens when it comes to accepting a constantly depreciated purchasing power of the currency.

Saying that nothing will happen if debt continues to rise and deficits continue to drive government policy is, literally, like saying that an alcoholic should drink more vodka because cirrhosis has not killed him yet.

The US dollar is the credit of the US economy. If the US government loses its credibility, domestic agents will begin to reduce their use of the US dollar, while international agents will decline the currency due to its constant fiscal excess and its tendency to push the limits of global patience. Thinking that the US dollar will never lose its reserve currency status is simply reckless and ignores history.

Harris is threatening the US dollar, and you should be very concerned when someone says that the government has unlimited taxation and printing resources. It means it has unlimited ways of making you poorer.

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

VDH: The Biden-Harris World Is Afire

Monday, Sep 09, 2024 – 05:15 PM

Authored by Victor Davis Hanson via American Greatness,

Somehow the United States ended up this summer with no engaged president and an absent vice president who avoids the missing president and is frantically repudiating everything she co-owned the last three years.

The world was already confused over how President Joe Biden was apparently declared by unnamed Democratic insiders and donors unfit and unable to continue as their presidential candidate—as if he were a dethroned Third-World usurper.

It further wondered how those who staged his removal had no problem allowing him, in his debilitated state, to continue as America’s commander-in-chief until January 20, 2025. They demonstrated their priorities that focus on retaining power, not the welfare of the nation or the will of over 14 million Biden primary voters.

Vice President Kamala Harris, until Biden’s forced abdication, was judged by these same backroom fixers as too incompetent to ever be commander-in-chief and thus for three years a good reason why Biden apparently was not forced out earlier.

Now nominal Vice President Harris is on the campaign trail nonstop, while Biden has taken the most vacation time off and worked the shortest workweek in presidential memory.

The world again wonders who is in charge, what they believe, who is a friend, and who is an enemy. Harris is busy trying to get elected on three premises: disowning her prior co-ownership of what was mostly a disastrous Biden term and certainly no recommendation for reelection; reinventing her affluent radical past and present as moderate and working-class; and keeping absolutely silent about any detailed agenda or policy plan for governance as president.

Our rivals and opponents abroad cannot decide which is better for their own anti-American agendas—a derelict and absent Biden-Harris or dealing with a cognitively challenged Biden and a linguistically loopy Harris?

So, again, who or what now governs America?

Is it Biden again at the beach or closing up shop at noon for his nap and early bedtime?

Or is it Vice President Harris, far from the White House, out campaigning and confused over who she really is or wants to be, what, if anything, she plans on doing if elected president, and how to avoid any unscripted moment?

Or are our real rulers the stealth cabal of Democratic grandees and billionaire donors who arranged the Biden presidency by forcing out his 2020 primary rivals, staged the conspiratorial silence about his real disabilities for well over three years, ambushed him, and forced him off the Democratic ticket, and are now frantically reinventing Kamala Harris as capable and centrist when just a few months ago they had written her off as incompetent and a hopeless wannabe California radical?

As a result, a confused but also encouraged world of enemies watches the listless United States and wonders whether to try something stupid.

In this widening vacuum, lots of foreign opportunists, outright enemies, and nihilists are seizing the day—on the assurance that Biden is not a lame duck, but a lame, lame duck, and Harris is a near functionary in search of an identity and an idea.

The Houthis, a ragtag cabal of terrorists who hijacked Yemen after shaking off a few prior Biden “precision” retaliatory strikes, now “own” the Red Sea. They just hit a Greek-flagged oil tanker that is now adrift and polluting the Red Sea. It serves as their warning for commercial ships to keep clear of their mare nostrum.

The Houthis expect neither a Western nor an American response to ensure safe transit in and out of the southern Mediterranean by the world’s commercial fleet. Apparently, they believe that they are so backward, and their drones are so cheap and simple that the top-heavy U.S. cannot afford to hit their ad hoc launches with sophisticated, multimillion-dollar, and often misapplied weapons. And they are probably right.

Indeed, under Biden-Harris, the world has now lost free and safe transit in the Red Sea, the Black Sea, the South China Sea, the Strait of Hormuz, and the Eastern Mediterranean. Will the Caribbean or mid-Atlantic be next? The military is short thousands of troops, the merchant marines idling ships.

Our NATO enemy/“ally” Turkey—when it is not threatening to send missiles against fellow NATO member Greece, bragging about once again ethnic cleansing Armenians, leveling more warnings to Cyprus, bombing the Kurds, colluding with the Russians and Chinese, trying to veto Finnish and Swedish NATO membership, or claiming US nuclear weapons based in Turkey are virtually its own—apparently has created such an anti-American climate that its pro-Erdogan street thugs feel they can beat up visiting American sailors, docking at Izmir to help aid the Turkish navy.

Not a peep follows from the White House. If it had, President Recep Erdogan would have leveled one of his accustomed unhinged responses.

Hamas just murdered more of its Israeli hostages, among them an American citizen.

Now non-candidate Biden is apparently still more worried about 250,000 Muslim voters in Michigan (who profess more solidarity with Hamas than lament the murder of a fellow citizen) than US interests in the Middle East. He customarily and matter-of-factly issued one of his empty editorials before returning to form by performance art blasting Israel.

In Biden’s world, our closest and only democratic ally in the Middle East is at fault because it will not, this election year, give constant concessions to the murderous Hamas clique. Biden-Harris forget that Hamas started the current war by butchering 1,200 Israelis at a time of peace, scrambled back to its subterranean labyrinth with over 250 hostages, hid their terrorist killers under schools, hospitals, and mosques, murdered any who were about to be rescued by Israeli forces, and promised to kill more if rescue attempts continue.

The Biden-Harris messaging seems simple: pro-Western, civilized, and consensually governed nations are rational and so listen to the U.S. and therefore should be leveraged and often punished for rationality; anti-American, medieval, and theocratic terrorist cabals do not and therefore should be appeased and exempted from criticism or retaliation given their lawlessness.

Normally, when asked about foreign threats to harm Americans or their interests, Biden gives one of his accustomed blowhard, one-word threats, “Don’t!” That empty and tired banality is now interpreted abroad as zero consequences will follow when you harm America. As a general rule, an animated Biden is far more likely to threaten to beat up or go after Trump than Hamas or Iran.

Harris has been mum—other than her usual on the one hand/on the other hand vacuity. Her vice presidential candidate running mate, the usually frenetic and loquacious Tim Walz, when asked directly about the murder of an American hostage, similarly goes mum—and simply waved off the question and turned away. Walz seems as terrified as Harris of any unrehearsed utterance, as if he knows only his silence masks his foolery.

Brazil, as was warned by many, is heading toward full-scale Latin American communism of the Venezuela/Nicaragua/Cuba sort. It is now waging a censorship war against Elon Musk with the tacit approval of the Biden-Harris consortium—for the crime of turning the former useful Twitter leftwing and censored megaphone into a global free speech pavilion.

Ukraine has now been inside Mother Russia for weeks, which is strategically understandable but geo-strategically dangerous against a nuclear hyperpower run by a ruthless dictator. Biden has no clue what the U.S. is doing other than supplying enough arms to Ukraine not to lose but more than enough to trigger a wider theater war. Ask Biden and Harris what the U.S. strategy is on Ukraine, and one will mumble incomprehensibly, the other, if unguarded, plunge into a circular word salad about the “art of diplomacy” or “democratic fragility.”

Iran is more afraid of an Israeli response than U.S. threats.

Or is it worse than that? Does the theocracy now rely on Biden-Harris to restrain any Israeli retaliation for the tens of thousands of rockets launched by Hamas, Hezbollah, and Iran against the Jewish state.?

All Biden-Harris had to do was continue the Trump protocol of warning Iran to stay out of the conflict. Instead, it de facto greenlighted the Iranian supply chain to Hamas and Hezbollah and turned all of them loose to murder.

In truth, US foreign policy toward Iran is the resumption of the Obama-era embrace of the supposed underdog Shiite/Persian counterweight to Gulf moderates and democratic Israel. Biden-Harris cares not a whit whether Iran goes nuclear and might even in their warped Ben-Rhodes/Barack Obama-era imbecility tacitly support such nuclearization to “rein in” the Jewish state.

Mexico’s outgoing “president,” Andrés Manuel López Obrador, has now unabashedly also gone full communist. As he preps the way for his even harder-left successor, Obrador is seeking to destroy what is left of Mexico’s democracy.

AMLO, remember, bragged of the tens of millions of illegal aliens that Mexico drove out and into the U.S.—especially given the $60 billion in remittances they send to prop up an otherwise failed narco-state. In retirement, he will brag that he was the first Mexican president to destroy the U.S. border.

He even urged all Mexican-American expatriates to vote anti-Republican. For the next few months, he will cooperate with the US to slow down the influx northward in order to allow Harris-Biden to claim they are for pre-November 5 election-cycle “border security.” And thereby help Harris get elected and welcome in another 10 million illegal aliens.

In his delusions, AMLO—who proved one of the truly dangerous anti-Americans on the world stage—thinks he is winning phase two of the 19th-century Mexican War. In fact, all he is proving is that millions of Mexicans want out of his country and only romanticize it when they are safely and permanently distant from its numerous failed paradigms.

In sum, there really is no President Biden or Vice President Harris. The former is non compos mentis and failing ever more rapidly. The latter has no clue who she is or what she should do. The cabal that engineered their respective exits and entrances cares more about retaining power than using it for American interests.

So, we are in perilous times.

All of our enemies and even former neutrals are coming out of the woodwork. They are convinced that the next two months offer one-time advantages—unless Harris is elected and thus can extend their opportunities for four more years of what Americans see as a chaotic decline, but the world abroad views as a rare and ripe opportunity.

SWAMP STORIES

KING REPORT

The King Report September 9, 2024 Issue 7322

Independent View of the News

The August Employment Report was not weak enough to warrant a 50bps Fed rate cut.  So, stocks fell and so did the dollar.  The yen/$ hit 141.78 at 10:58 ET, the lowest level since the carry trade unwind panic on August 5 took the yen/$ to 141.70.  This unleashed selling in everything, because just about everything in the various markets is levered!   August NFP 142k, 165 consensus, 155k Whisper #; July revised to 89k from 114k, June revised to 118k from 179k; Two-Month Revision -86k (The NFP revision scam continues!  Bidenomics!)   Unemployment Rate 4.2% as expected, 4.3% prior; Labor Force Participation Rate 62.7% as expected, Employment-population ratio unchanged at 60%; Employed +168k, Unemployed -48k  https://www.bls.gov/news.release/pdf/empsit.pdf   Mfg. -24k, Construction +34k, Government +24k, Hospitality & Leisure +46k, Private Education & Health Services +47k; Wages 0.4% m/m & 3.8% y/y; 0.3% m/m & 3.7% y/y, Workweek 34.3,   The BLS increased the seasonal adjustment to +129k, from +66k for Aug 2023.  (Table B-1)    While The Street proclaims the August Employment Report does NOT warrant a 50bps rate cut, the big two-month downward revision and BLS phantom NFPs, generated via season adjustment legerdemain, suggest the US is sliding into recession.   PS – The Birth/Death Model crafted 100k jobs vs. 110k in August 2023.  https://www.bls.gov/web/empsit/cesbd.htm   @RealEJAntoni: Employment among foreign-born workers has increased 4.4 million since pre-pandemic (and is back on trend) while jobs among native-born Americans have fallen 833k over that same time – literally no progress in 5 years…  https://x.com/RealEJAntoni/status/1832037725018497084      All of the net job growth in Aug was part-time employment (+527k), while full-time jobs plummeted (-438k); we’re hemorrhaging higher-paying jobs w/ benefits and replacing them with multiple part-time ones – these higher payroll numbers are a sign of impoverishment, not growth: https://x.com/RealEJAntoni/status/1832038872726819243      The number of people categorized as not in the labor force is over 5 million more than pre-pandemic, and even higher above the pre-pandemic trend; this is artificially reducing the unemployment rate: https://x.com/RealEJAntoni/status/1832052198882017642      More than half of last 12-months of job growth has come from gov’t and the gov’t-dominated healthcare sector; it’s all taxpayer funded, and it’s not at all sustainable: https://x.com/RealEJAntoni/status/1832050621547262427   Fangs got hammered during the first hour of NYSE trading due to Broadcom’s soft Q4 sales forecast.  At 10:00 ET, Broadcom (AVGO) was -10.2%.    ESUs traded modestly negatively during Asian trading but decline sharply after Europe opened.  After hitting a low of 5466.00 at 3:20 ET, ESUs rebounded modestly and traded sideways until they surged higher after the 8:30 ET August Employment Report release.  It was very misguided buying.   ESUs hit a daily high of 5532.50 at 9:34 ET.  Aggressive selling in ESUs and stocks appeared.  ESUs sank to 5431.75 at 10:55 ET.  The manipulation for the 11:30 ET European close commenced.  ESUs hit 5471.00 at 10:58 ET, 40 handles in 3 minutes!  Sellers reemerged, ESUs intractably declined until they hit a daily low of 5412.50 at 12:50 ET.   The afternoon rally took ESUs to 6436.00 at 13:22 ET.  Sellers returned; ESUs fell to a new daily low 5410.25 at 14:25 ET.  ESUs rallied on traders trying to front run the expected last-hour manipulation.  ESUs rallied to 5434.75 at 15:28 ET.  Sellers reappeared; ESUs sank to 5413.75 at 16:00 ET.   USUs tumbled to a daily low of 125 5/32 (-16/32) two minutes before the 8:30 ET Employment Report release.  They went vertical to 126 22/32, (+1 1/32) SECONDS later.  After the release, USUs collapsed to 125 7/32.  But The Street is historically long bonds/notes.  So, someone juiced USUs to a daily high of 126 26/32 at 10:58 ET.  Alas, there are organic sellers in the market.  USUs sank to 125 18/32 at 13:08.   Positive aspects of previous session Bonds jumped twice – but each rally was mostly rescinded. Commodities declined sharply; but recession angst was a factor.   Negative aspects of previous session Stocks declined sharply; Fangs got hammered; the Naz 100 is -11% from its July high. USUs rallied as much as 1 1/32; but rescinded two surges twice. Yen carry trade angst has returned! The S&P 500 Index had its worst week (-4.25%) since March 2023. Nasdaq sank -5.77% for the week; the Naz 100 tumbled 5.89%, its worst week since Nov. 2022   Ambiguous aspects of previous session Can bonds rally significantly with The Street historically long? How big is the risk/danger of another yen carry trade unwind panic?   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]: 5444.50 Previous session S&P 500 Index High/Low: 5522.47; 5402.62   Anti-Israel group funded by Soros gains influence with 60 Biden White House visits Officials at Emgage, a group that has promoted the anti-Israel Boycott, Divestment, and Sanctions movement, have hobnobbed at the White House on at least 60 occasions combined since 2021, according to White House visitor logs reviewed by the Washington Examiner… https://www.washingtonexaminer.com/news/white-house/3142538/anti-israel-group-soros-biden-white-house-visits/#google_vignette   WSJ: U.S. Tells Allies Iran Has Sent Ballistic Missiles to Russia European officials say Europe and U.S. are working on a sanctions response to Iran’s move https://www.wsj.com/world/u-s-tells-allies-iran-has-sent-ballistic-missiles-to-russia-9558f4c4?st=dykvhyw4158fuot   @Osint613: Israeli PM Benjamin Netanyahu has instructed the military and defense forces to prepare for a significant operation against Hezbollah in southern Lebanon, aimed at securing the return of residents to their homes and stopping further attacks on northern Israel.   Time snubs Elon Musk from 100 most influential people in AI — but includes Scarlett Johansson (Ideology uber alles!) https://trib.al/iR8jU2a   @TrumpWarRoom: TRUMP: Kamala’s crime statistics are as fake as her jobs numbers and her occasional southern accent. The FBI’s crime report does not include crime numbers from the most dangerous war zones and ganglands in America—Chicago, Oakland, New Orleans, Los Angeles, San Francisco, and San Jose.  Nearly 30% of jurisdictions did not report their crime numbers. Crime is worse today than any time in our country’s history.  https://x.com/TrumpWarRoom/status/1832166983275553026   Today – The S&P 500 obliterated key support at 5500.  The low on Friday was 5402.62.  It’s time to refocus on the yen/$, particularly bonds traders and investors.  Stocks are breaking down technically.  Further deterioration could unleash momentum selling.  Major equity indices are nearing fail safe areas.    Instead of the usual Sunday night buying NQUs and ESUs opened sharply lower.  After hitting a low of 18,386 at 19:13 ET, someone manipulated NQUs to 18,461.75 (+3.2 points) at 19:25 ET.  The yen/$ is 142.43; NQUs are -4.50, ESUs are +0.75, the Nikkei is -3.0%; and USUs are -12/32 at 20:10 ET.   Expected Economic Data: July Wholesale Inventories 0.3% m/m; July Consumer Credit $11.2B; Fed in blackout ahead of September 17-18 FOMC Meeting.   S&P Index 50-day MA: 5505; 100-day MA: 5379; 150-day MA: 5291; 200-day MA: 5148 DJIA 50-day MA: 40,201; 100-day MA: 39,508; 150-day MA: 39,297; 200-day MA: 38,741 (Green is positive slope; Red is negative slope)   S&P 500 Index (5408.42 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 5274.15 triggers a sell signal Daily: Trender and MACD are negative – a close above 5640.19 triggers a buy signal Hourly: Trender and MACD are negative – a close above 5478.08 triggers a buy signal   On Sunday, liberal/media polls that historically understate Trump/GOP strength show Kamala Harris falling further.  [Liberal icon pollster] Nate Silver’s model gives Trump a 63.8% chance of winning and Harris a 36% chance.  https://x.com/WallStreetSilv/status/1832915313358434361/photo/1   On Friday, the Office of the Director of National Intelligence refuted AG Garland and the regime media’s braying about Russia election interference:   ODNI: Election Security Update as of Early September – To date, the IC has not observed any foreign actor seeking to interfere in the conduct of the 2024 elections… https://www.dni.gov/files/FMIC/documents/ODNI-Election-Security-Update-20240906.pdf   Nevertheless, WaPo was adamant about running with the Russia, Russia, Russia, narrative.   WaPo: Russia’s election influence efforts show sophistication, officials say Moscow is using “authentic U.S. voices” on major social media platforms to “launder” propaganda and divisive narratives aimed at swaying American audiences. https://www.washingtonpost.com/national-security/2024/09/07/russia-election-covert-disinformation-doj/   @nicksortor: LOL: Kamala Harris did a radio “interview” with Univision and you can hear her literally FLIPPING THE PAGES of her script while she gives basic and generic answers. https://x.com/nicksortor/status/1832073949284630634   BBG’s @gardnerakayla: VP @KamalaHarris taped a radio interview with @RickeySmiley. The interview will air Friday morning… There were technical difficulties that prevented Rickey Smiley from airing this interview this morning, per the campaign  (not Smiley). It’s now expected for Monday.   The Team Obama-Harris panic is so acute that they are trying to blame Trump for the disastrous Afghanistan withdrawal.  They claimed DJT created an ‘”virtually impossible” deadline. https://www.cbsnews.com/news/harris-campaign-trump-taliban-afghanistan-withdrawal/   Social media teems with rumors that Team Obama-Harris has deep buyer’s remorse over Walz.   GOP Sen. @TomCottonAR: After Hamas murdered hostages, including an American, Tim Walz demands *Israel* give Hamas everything the terror group wants. Including a state.  The Harris-Walz ticket is dangerously weak on national security.   RNC blasts Walz admin’s nonanswer on how noncitizens made it onto Minnesota voter rolls: ‘No hypothetical’ https://t.co/Ecirx2qWCm   @TrumpWarRoom: Tampon Tim — trying to divide Americans — falsely claims being gay in Nebraska is “illegal.  https://t.co/Q9a2EHv5nH   @libsoftiktok: Biden repeats the “suckers and losers” hoax and suggests he would’ve done something to harm Trump. (Where’s the media outrage a Joe’s violence fomentation?  You can imagine if DJT said it!) https://x.com/libsoftiktok/status/1832158479756488748   @JoelWBerry: The fact that the media talks about Russian interference but not Chinese interference (which is a much larger and more serious problem) is good evidence they’re bought by China.   Trump reluctantly admits that he made some poor personnel decisions in his first term.   @TrumpWarRoom: PA voter: What did you learn during your first term for those that are hesitant to vote for you now?  President Trump: “I had a lot of good people… but I put people in that in some cases, were not what I really wanted… I know the good ones, the bad ones, the smart ones, the dumb ones — I know them all now.”  https://x.com/TrumpWarRoom/status/1831864558996091032   Trump trolling Kamala and Mike Bloomberg: “No boxes or artificial lifts will be allowed to stand on during my upcoming debate with Comrade Kamala Harris. We had this out previously with former NYC Mayor Michael Bloomberg when he was in a debate, and he was not allowed a “lift.” It would be a form of cheating, and the Democrats cheat enough. “You are who you are,” it was determined!” Donald Trump Truth Social 07:04 AM EST 09/06/24   Fox’s @PhilipWegmann: Vice President Harris tells reporters, “I’m honored” to have the endorsement of Dick Cheney. (Not a parody!  “My enemy’s enemy is my friend.”)   We are old enough to remember when the media and Dems hated Dick Cheney so much that they wanted him to be extradited to The Hague for prosecution of war crimes.  But after Dick Cheney slammed Trump (and now says he will vote for Kamala), he became a hero to Dems and the media.   @TrumpDailyPosts: Dick Cheney is an irrelevant RINO, along with his daughter, who lost by the largest margin in the History of Congressional Races! They couldn’t get Scooter Libby, who did so much for them (but was so unfairly treated!), PARDONED. I did it! He’s the King of Endless, Nonsensical Wars, wasting Lives and Trillions of Dollars, just like Comrade Kamala Harris. I am the Peace President, and only I will stop World War III! What Liz Cheney did with the Unselect Committee of Political Losers is unthinkable. She and her Unselects deleted and destroyed all evidence and information – IT’S GONE. Much of it proved that Nancy Pelosi was responsible for J6 – DIDN’T PROVIDE SECURITY. Cheney and the others should be prosecuted for what they did, but Comrade Kamala is even worse!   @Travis_4_Trump: Tulsi Gabbard just nuked Kamala Harris AGAIN, and took Dick Cheney with her: “A vote for Kamala Harris is a vote for Dick Cheney, the architect of everything that has gone wrong in the Middle East for the last few decades.”   Kamala Harris speaking; no commentary necessary:  https://t.co/aRvJID09iC   @TrumpWarRoom: Here are the 9 steps President Trump will take to break the grip of this rogue regime and take back power for THE PEOPLE.  https://x.com/TrumpWarRoom/status/1832552456376492139   Biden’s astonishing vacation total revealed — prez took 48 years worth of leave in 4 “The image of Biden fast asleep and lying flat on his back in his chair at the beach while America and the world is on fire will define the Biden presidency,” said Mark Paoletta, the general counsel of the White House budget office under former President Donald Trump… https://nypost.com/2024/09/07/us-news/biden-took-48-years-worth-of-vacation-while-president/   Harris visits spice shop known for hating and slamming Republicans, calls for end of ‘divisiveness’ https://www.foxnews.com/politics/harris-visits-spice-shop-known-hating-slamming-republicans-calls-end-divisiveness   @paulsperry_: Sources say Hunter threw in towel to avoid trial exposing Biden-China influence peddling, after prosecutors filed “road map” glossary to trial exhibits: “CEFC China Energy” “Patrick Ho” “Kevin Dong” “Mervyn Yan” “Ye Jianming” “State Energy HK” “RosemontSenecaBohai” “SinoHawk“   Alan Dershowitz announces he is leaving Democratic Party “I am no longer a Democrat… I am an Independent… I want to see how they deal with Iran; I want to see how they deal with Iran’s attacks on the United States, I want to encourage the current administration to support Israel. So, I’m not revealing my vote until maybe November 1… https://justthenews.com/politics-policy/elections/alan-dershowitz-announces-he-leaving-democratic-party   @nicksortor: CA Gov. Gavin Newsom has just vetoed the bill that would’ve given $150K to illegals for down payments on homes.  Newsom absolutely supports it, but he knows it would be a massive political liability for him when he runs for President… (Newsome thinks DJT will win; So, 2028 will be open.)   @libsoftiktok: The Georgia school shooter had a discord account where he wrote his intentions to commit a school shooting and expressed frustration about trans acceptance.  His father revealed that Colt was bullied for being gay…  https://x.com/libsoftiktok/status/1832119297612874009   Schumer confesses!  @Breaking911: SCHUMER: “The only way we’re going to have a great future in America is if we embrace and welcome Dreamers and all of them.  Our ultimate goal is to help Dreamers get a pass to citizenship and for all 11 million or how many undocumented there are here.” https://x.com/Breaking911/status/1831782541940158679

The King Report September 10 2024 Issue 7323

Independent View of the News

The Hang Seng Index sank as much as 2% on Monday; but rebounded to close -1.42%.  Other Asian bourses did the same.  The CSI 300 closed +1.19%; the Shanghai Comp closed -1.06%; and the Nikkei closed -0.48 % after tumbling over 3% early in the session.   We noted in Monday’s missive that NQUs and ESUs traded sharply lower early on Sunday night; but a NQU manipulation rescued them: After hitting a low of 18,386 at 19:13 ET, someone manipulated NQUs to 18,461.75 (+3.2 points) at 19:25 ET.    To accurately get the cause & effect correct here is the sequence: ESUs hit their low at 18:03 ET (3 minutes after they opened.); NQUs bottomed out at 19:13 ET; the Nikkei hit its bottom at 20:49 ET; The CSI 300 hit bottom at 2:03 ET; and the Hang Seng hit its low at 2:14 ET.   Ergo, Asian bourses bottomed well after ESUs and NQUs hit their lows on Sunday night.   ESUs rallied methodically from their Sunday night low of 5405.25 until they hit a daily high of 5479.75 at 10:09 ET.  There was NO evidence of impact trading in ESUs.  The sharpest rally was the buying for the NYSE opening that commenced near 8:35 ET.  ESUs went from 5448.25 at 8:28 ET to the daily high of 5479.75 at 10:13 ET.  The dump then began; ESUs sank to 5442.50 at 11:12 ET.   The manipulation for the European close progressed into a Noon Balloon.   After the Sunday night manipulation, NQUs traded like ESUs.  NQUs hit a daily high of 18720.75 at 10:08 ET, but then sank to 18497.25 at 11:13 ET.   Some pundits thought that the manic NQU buying was due to Apple’s unveiling of new products on Monday.  Apple sank during early NYSE trading, hitting a low of 217.05 (-2.70) at 11:00 ET.  Apple then methodically rallied until it turned positive at 13:17 ET.    Apple CEO Time Cook Says Co Will Introduce First iPhone Built ‘From the Ground Up’ for Apple Intelligence – BBG 13:20 ET   Here’s everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4 and more  https://www.cnbc.com/2024/09/09/apple-event-2024-live-updates-iphone-16-apple-watch-10.html   Alas, the new products were disappointing.  Apple tumbled to a new daily low of 216.81 at 14:38 ET.   Apple pulled ESUs and NQUs lower.  ESUs fell to 5457.50 at 14:39 ET.  ESU moved modestly higher until the late manipulation began at 15:24 ET.  ESUs were pushed to 5482.75 at 16:00 ET.   NY Fed: Consumers’ Inflation Expectations Unchanged at Short- and Longer-Term Horizons Consumers’ one- and five-year-ahead inflation expectations remained unchanged in August at 3.0 percent and 2.8 percent, respectively, according to the latest Survey of Consumer Expectations. Median inflation expectations at the three-year-ahead horizon rebounded somewhat from July, increasing to 2.5 percent from 2.3 percent. Labor market expectations came in mixed, but largely stable, with median one-year-ahead expected earnings growth increasing to 2.9 percent from 2.7 percent, just above a twelve-month trailing average of 2.8 percent…  https://www.newyorkfed.org/microeconomics/sce.html#/   Positive aspects of previous session Someone juiced NQUs on Sunday night and generated a robust equity rally. USUs rallied modestly; the dollar rallied smartly   Negative aspects of previous session Gasoline, oil, and industrial commodities rallied sharply despite the dollar rally.   Ambiguous aspects of previous session Are US politics a factor in the markets?   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]: 5444.50 Previous session S&P 500 Index High/Low: 5522.47; 5402.62   @Breaking911: The government is reportedly giving January 6 defendants “reeducation courses” in jail to teach them how Trump is ‘a threat to democracy.’ (Do you understand what is occurring here?) https://x.com/Breaking911/status/1833231573506003268   @ggreenwald: The US has no functional president and has not had one for months, and it’s barely noticeable and barely matters because there’s a permanent unelected machine that runs the government.   @VDHanson: The Biden-Harris World Is Afire There really is no President Biden or Vice President Harris. The former is non compos mentis and failing ever more rapidly. The latter has no clue who she is or what she should do. The cabal that engineered their respective exits and entrances cares more about retaining power than using it for American interests.  So, we are in perilous times.     All of our enemies and even former neutrals… are convinced that the next two months offer one-time advantages—unless Harris is elected and thus can extend their opportunities for four more years of what Americans see as a chaotic decline, but the world abroad views as a rare and ripe opportunity. https://victorhanson.com/the-biden-harris-world-is-afire/   Today – What are the odds that stocks will sink before the Harris-Trump debate and give DJT a chance to bash Harris about it?  Traders are bullish and will continue to play the upside.   If stocks are strong going into the final hour, be alert for profit taking ahead of the release of the August CPI report tomorrow.   NQUs opened at 18741.00 but then tumbled to 18638.25 (-55.00) at 20:16 ET.  ESUs did the same.  Jumped to 5491.50 at 18:03 ET and then sank to 5473.75 (-6.25) at 20:15 ET.  We see no news.   Expected Economic Data: Aug NFIB Small Business Optimism 93.7   S&P Index 50-day MA: 5505; 100-day MA: 5379; 150-day MA: 5291; 200-day MA: 5148 DJIA 50-day MA: 40,201; 100-day MA: 39,508; 150-day MA: 39,297; 200-day MA: 38,741 (Green is positive slope; Red is negative slope)   S&P 500 Index (5408.42 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 5274.15 triggers a sell signal Daily: Trender and MACD are negative – a close above 5640.19 triggers a buy signal Hourly: Trender and MACD are negative – a close above 5478.08 triggers a buy signal   Harris falling behind among male voters in key states Harris’s choice of Minnesota Gov. Tim Walz, a former high school football coach, as her running mate appeared designed to give the Democratic ticket more appeal with male voters.  “They saw him as a man’s man, and I think the idea was that he is somebody who could connect with these very alienated male voters who feel that the trend of national policy in recent years has been very much tilted in favor of women,” he said… (Only the estrogen saturated Team Obama could see Walz as a ‘man’s man!’) https://thehill.com/homenews/campaign/4866756-harris-trump-male-voters/   @LeadingReport: Harris campaign allegedly wanted the mics unmuted for the debate so Kamala could try and “create a viral moment” by interrupting Trump.   “Can’t Take It Anymore”: Residents of Springfield Ohio Beg for Help after 20,000 Haitians Overwhelm City, Eat Local Wildlife – “Haitians are in the park grabbing ducks, cutting the heads off, and eating them”… “They have become the occupiers. What they’ve done is they’ve replaced the population in Springfield.”… https://www.zerohedge.com/political/cant-take-it-anymore-residents-springfield-ohio-beg-help-after-20000-haitians-overwhelm   @charliekirk11: Residents of Springfield, OH are reporting that Haitians are eating their family pets, another gift of the Biden-Harris mass immigration replacement plan. Liberals will soon be lecturing Americans on why they need to be sensitive to Haitian culture and accept this as the new normal… https://x.com/charliekirk11/status/1832883283199471676     @elonmusk: Apparently, people’s pet cats are being eaten.   @townhallcom: Kamala Harris takes credit for giving Temporary Protected Status to more than 100,000 Haitian migrants: “They need our support!” https://x.com/townhallcom/status/1833151177036321060 Kamala Harris vows to grant amnesty to migrants who illegally cross border https://trib.al/XLMZQQi   CNBC host Joe Kernen pushes Kamala Harris surrogate on claim of ‘crystal clear’ views, not granting interviews: ‘People are frustrated’ https://trib.al/fYe1FaL   @TrumpWarRoom: Top Harris surrogate Gina Raimondo claims Americans “aren’t interested in the minutiae of how she’ll increase taxes on billionaires…”  Reporter: “You don’t?!” https://x.com/TrumpWarRoom/status/1833159605989396761   Team Obama-Harris leftists are trying to sell Kamala’s proposed record tax increase as solely a tax hike on billionaires.   Kamala Harris finally publishes policy website after month into campaign — and it still lacks specifics, critics say – The website is touted as “a new way forward” — despite Harris having been VP for more than the past three years and repeating some of President Biden’s policies… Other parts of Harris’ policy agenda on the site lay out her goals for her potential future administration but don’t establish how she would get there other than to say she will “fight” for them… https://trib.al/rj9qOth   @realDonaldTrump: CEASE & DESIST: I, together with many Attorneys and Legal Scholars, am watching the Sanctity of the 2024 Presidential Election very closely because I know, better than most, the rampant Cheating and Skullduggery that has taken place by the Democrats in the 2020 Presidential Election. It was a Disgrace to our Nation! Therefore, the 2024 Election, where Votes have just started being cast, will be under the closest professional scrutiny and, WHEN I WIN, those people that CHEATED will be prosecuted to the fullest extent of the Law, which will include long term prison sentences so that this Depravity of Justice does not happen again. We cannot let our Country further devolve into a Third World Nation, AND WE WON’T! Please beware that this legal exposure extends to Lawyers, Political Operatives, Donors, Illegal Voters, & Corrupt Election Officials. Those involved in unscrupulous behavior will be sought out, caught, and prosecuted at levels, unfortunately, never seen before in our Country.   @nicksortor: Apparently Mark Cuban hates President Trump because Trump didn’t recognize him at Mar-a-Lago a couple decades ago.  @mcuban’s a man child.  https://t.co/ZIshOtNSHq   The latest Harvard-Harris poll has Harris and Trump tied in the popular vote among registered voters.  With registered voters having a +2 to 4% Democrat bias and a similar bias in the popular vote versus the electoral vote (Hillary won popular vote by 2.1% and lost by 77 EVs), Harris is in big trouble.    In 2016, a Harris poll had Hillary up 12 points among likely voters. https://www.cnn.com/2016/10/23/politics/hillary-clinton-donald-trump-presidential-polls/index.html   The NY Times/Siena poll has Trump 48, Harris 47% with Trump having a 99.7% of winning the EV. https://x.com/LeadingReport/status/1832949557597991082/photo/1   @davidchapman141: New York Times poll Trump 2020 vs now among Whites: 2020 Trump 49% (+7), Biden 42%; 2024 Trump 54% (+14), Harris 40%.  Trump has doubled his support among whites vs 2020 in the NY Times poll. This is huge as 67-70% of the electorate will be white.   Rasmussen, one of most accurate pollsters for the past two presidential cycles, has Trump +3% (5-day rolling average) among Likely Voters.   @RealMacReport: CNN Host: “Is Dick Cheney wrong for supporting Kamala Harris?”  Scott Jennings: “Democrats have called Dick Cheney a war criminal for twenty years, and now, all of a sudden, they are clapping like seals to get his endorsement.”  https://x.com/RealMacReport/status/1833018247068741696

GREG HUNTER

SEE YOU ON WEDNESDAY//

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