GOLD PRICE CLOSED DOWN $0.95 TO $2514,25

SILVER PRICE UP $.33 TO $28.61

Gold ACCESS CLOSED $2513.50

Silver ACCESS CLOSED: $28.71

Bitcoin morning price:$56,688 DOWN 1426 DOLLARS.

Bitcoin: afternoon price: $57,805 up 1117 DOLLARS

Platinum price closing  UP $14.10 TO $955.90

Palladium price; UP $96.40 TO $1012.70

END

*CANADIAN GOLD: $3410.99 DOWN 13.81 CDN dollars per oz( * NEW ALL TIME HIGH 3,431.95 CDN DOLLARS PER OZ//AUG 16 2024)

*BRITISH GOLD: 1,926.82 UP 3.31Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1937.75 BRITISH POUNDS/OZ) AUGUST 16/2024

*EURO GOLD: 2,281.68.00 DOWN 1.79 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: 2,512.300000000 USD
INTENT DATE: 09/10/2024 DELIVERY DATE: 09/12/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

323 C HSBC 1
363 H WELLS FARGO SEC 9
435 H SCOTIA CAPITAL 2
661 C JP MORGAN 2
685 C RJ OBRIEN 16
737 C ADVANTAGE 5 7

---

TOTAL: 21 21

JPMorgan stopped 2/21

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 21 NOTICES FOR 2100 OZ  or  0.0653 TONNES

total notices so far: 3902 contracts for 390,200 Oz (12.1369 tonnes)

FOR  SEPT:

SILVER NOTICES: 13 NOTICE(S) FILED FOR 65,000 OZ/

total number of notices filed so far this month : 4,812 for 24.060 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 DOWN $0.95 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ HUGE CHANGES IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.70 TONNES OF GOLD INTO THE GLD

/ /INVENTORY RESTS AT 864.44 TONNES

INVENTORY RESTS AT 864.44 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $.33 AT THE SLV

SMALL CHANGES IN SILVER INVENTORY AT THE SLV: ..A HUGE DEPOSIT OF OF 2.099 MILLION OZ INTO THE SLV// //

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 467.648 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A FAIR SIZED 354 CONTRACTS TO 128,954 AND CONTINUING 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  LOSS OF $0.06 IN SILVER PRICING AT THE COMEX ON TUESDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE SLIGHT LOSS IN PRICE. WE HAD A HUMONGOUS GAIN OF 1346 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS DURING TUESDAY’S TRADING//. WE HAD CONSIDERABLE SHORT COVERING BY OUR SPECS DESPITE THE SMALL LOSS IN PRICE.  WE HAD A HUGE 605 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 847 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED A HUMONGOUS 1346 CONTRACTS ON OUR TWO EXCHANGES DESPITE THE LOSS IN PRICE.

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN 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 TUESDAY NIGHT: 847 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS.IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS BUT TO NO AVAIL. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.06) BUT WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS GAIN OF 1346 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUGE 605 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 25000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 24.325 MILLION OZ

//NEW STANDING FOR SILVER//SEPT ADVANCES TO 24.325 MILLION OZ

WE HAD:

/ FAIR SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 847 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 387 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 7 DAYS, total 5241 contracts:   OR 26.205 MILLION OZ  (749 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  26.205 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: 26.205 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

RESULT: WE HAD A FAIR SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF  354 CONTRACTS WITH OUR LOSS IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS:605 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 25,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT ADVANCES TO 24.325 MILLION OZ 

WE HAVE A HUMONGOUS GAINOF 959 OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE LOSS IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 847 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE SLIGHT LOSS IN PRICE TUESDAY/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE TUESDAY NIGHT   (847) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 13 NOTICE(S) FILED TODAY FOR 65,000 OZ

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

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A STRONG SIZED 5025 OI CONTRACTS  TO 511,501 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 871 CONTRACTS//

WE HAD A STRONG SIZED INCREASE  IN COMEX OI (5025 CONTRACTS) OCCURRED WITH OUR STRONG GAIN OF $12.00  IN PRICE /TUESDAY. 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 TUESDAYS SMALL 500 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  12.345 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $12.00 GAIN IN PRICE  WITH RESPECT TO TUESDAY’S TRADING. WE HAD A VERY STRONG SIZED GAIN OF 10,181 OI CONTRACTS (31.667 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 HUGE SIZED 5896 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 511,501

IN ESSENCE WE HAVE A VERY STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,181  CONTRACTS  WITH 5025 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 5156 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 10,181 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR SIZED 1149 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUGE SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5156 CONTRACTS) ACCOMPANYING THE STRONG SIZED INCREASE IN COMEX OI OF 5025 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 10,181 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 500 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO: /SEPT 12.345ONNES. 

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

  4)  STRONG SIZED COMEX OPEN INTEREST INCREASE 5)  HUGE ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR 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: 35,296 CONTRACTS OF 3,529,600OZ OR 109.78 TONNES IN 7TRADING DAY(S) AND THUS AVERAGING: 5042 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 7 TRADING DAY(S) IN  TONNES  109.78 TONNES

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

THUS EFP TRANSFERS REPRESENTS  109.78DIVIDED BY 3550 x 100% TONNES = 3.09% 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: 109.78 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 ROSE BY A FAIR SIZED  354 CONTRACTS OI  TO 129,346 AND CLOSER TO THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  6 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 605 CONTRACTS

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

DEC 605 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 605 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI GAIN OF 354 CONTRACTS AND ADD TO THE 605 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 959 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 6.730 MILLION OZ OCCURRED DESPITE OUR $0.06 LOSS IN PRICE  

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 22.40 PTS OR 0.82% //Hang Seng CLOSED DOWN 125,38 PTS OR 0.73% // Nikkei CLOSED DOWN 539.39 OR 1.49%//Australia’s all ordinaries CLOSED DOWN 0.27%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1141 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1176/ Oil DOWN TO 67.30 dollars per barrel for WTI and BRENT DOWN AT 70.66 Stocks in Europe OPENED ALL GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGR

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A STRONG SIZED 5025 CONTRACTS TO 511,501 WITH OUR STRONG GAIN IN PRICE OF $12.00 WITH RESPECT TO TUESDAY’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 ZERO 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 HUGE SIZED 5156 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 5156 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5156 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 VERY STRONG SIZED TOTAL OF 10,181 CONTRACTS IN THAT 5156 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A STRONG GAIN OF 5025 COMEX  CONTRACTS..AND THIS VERY STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR GAIN IN PRICE OF $12.00/TUESDAY 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 TUESDAY NIGHT A FAIR  SIZED 1149 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  (12.345  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. 12.345 TONNES.

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $12.00////AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A VERY STRONG GAIN IN OUR TWO EXCHANGES. WE HAD ZERO 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 31.667 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR SEPT (12.885 TONNES) ON FIRST DAY NOTICE FOLLOWED BY TUESDAY’S QUEUE JUMP OF A SMALL SIZED 500 OZ

//NEW STANDING FOR SEPT ADVANCES TO: 12.345 TONNES.

NEW STANDING FOR SEPT: 12.329 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  GAIN IN PRICE  TO THE TUNE OF $12.00

WE HAVE REMOVED 871 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 10,181 CONTRACTS OR 1,018,100OZ (31.67

TONNES)

confirmed volume TUESDAY 168,427 contracts poor

//speculators have left the gold arena

END

SEPT 11     SEPTEMBER  GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	133,199.716 oz HSBC           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	133,199.716 oz JPMorgan oz
No of oz served (contracts) today	21 notice(s) 2,100 OZ 0.0659 TONNES
No of oz to be served (notices)	67 contracts    6700 OZ 0.2083 TONNES
Total monthly oz gold served (contracts) so far this month	3902notices 390,200oz 12.1368 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month	x

0 dealer deposits:

total dealer deposits:  nil oz

we have 1 customer deposits

i) Into JPMorgan: 133,199.716 oz

total deposits 133,199.716 oz oz

withdrawals:1 from HSBC:

HSBC:: 133,199.716 oz

TOTAL WITHDRAWALS: 133,199.716 oz

adjustments: 1 JPMorgan:

dealer to customer: 10,802.468 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 88 contracts having LOST 36 contracts. We had 41 notices filed on TUESDAY so we GAINED 5 contracts or 500 oz will stand at the comex as these boys seek metal on this side of the pond.

OCTOBER LOST 142 CONTRACTS UP TO 41,794 CONTRACTS

NOVEMBER GAINED 31 CONTRACTS TO STAND AT 117

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 4904 CONTRACTS TO 411,103.

We had 21 contracts filed for today representing 2100 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 21 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 (3902 x 100 oz ) to which we add the difference between the open interest for the front month of  SEPT x88CONTRACTS)  minus the number of notices served upon today  (21x 100 oz per contract( equals  396,900 OZ  OR 12.345 TONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month:  No of notices filed so far (3902x 100 oz +we add the difference for front month of SEPT  (88/ , OI} minus the number of notices served upon today (13 x 100 oz which equals  396,900 oz (12.3245TONNES) 

TOTAL COMEX GOLD STANDING FOR SEPT.: 12.345 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 7,414,830.776 ( 230.63 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,652,497,085OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,634.503 oz (REG GOLD- PLEDGED GOLD)= 175.25 tonnes //

END

SILVER/COMEX

SEPT 11/2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,541,357.468OZ Delaware asahi CNT Loomis Manfra .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	601,570.990 oz ASAHI
No of oz served today (contracts)	13 CONTRACT(S)    (65,000 OZ)
No of oz to be served (notices)	53 contracts  (0.265 million oz)
Total monthly oz silver served (contracts)	4812Contracts  (24.060 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  1 customer deposits:

i) Into ASAHI: 601,570.990 oz

total customer deposit 601,570.990 oz

JPMorgan has a total silver weight: 134.996million oz/305.952 million  or 44.13%

adjustment:0

withdrawals: 5

i) Out of Delaware 435,896.715 oz

ii) Out of ASAHI: 603,344.500 oz

iii) Out of Loomis 10,032.35 ooz

iv) CNT 200,502.100 oz

v) Out of Manfra: 291,586.693 oz:

total customer withdrawals: 1,541,357.418 oz

TOTAL REGISTERED SILVER: 76,117 MILLION OZ//.TOTAL REG + ELIGIBLE. 305.952 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 66 CONTRACTS HAVING LOST 60 CONTRACT(S). 

WE HAD 65 NOTICES FILED ON TUESDAY, SO WE GAINED 5 CONTRACTS OR 25,000 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 5 OF OPEN INTEREST CONTRACTS AND THUS WE HAVE 1382 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW ITS ANOTHER LOSS OF 5 CONTRACTS TO STAND AT 18

DECEMBER SAW A GAIN OF 43 CONTRACTS UP TO 113,376.

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 13 for 65,000 oz

CONFIRMED volume; ON TUESDAY 50,571 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 4812 x 5,000 oz = 24.060 MILLION oz 

to which we add the difference between the open interest for the front month of SEPT(66) and the number of notices served upon today 13 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the SEPT/2024 contract month:  4812 notices served so far) x 5000 oz + OI for the front month of SEPT (66)x number of notices served upon today minus (13)x 5000 oz of silver standing for the SEPT  contract month equates to 24.325 MILLION OZ. 

 New total standing: 24.325 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 11  WITH GOLD DOWN $0.90 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD /:/A DEPOSIT OF 1.70 TONNES OF GOLD INTO THE GLD/ //////INVENTORY RESTS AT 864.44 TONNES

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: 864.44 TONNES, TONIGHTS TOTAL

SILVER

SEPT 11//WITH SILVER UP $0.33/SMALL CHANGES IN SILVER INVENTORY: A HUGE DEPOSIT OF 2.099 MILLION OZ INTO THE SLV/ OZ OF SILVER FROM THE SLV./. /: .///./// /INVENTORY AT 467.648MILLION OZ

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 467.648 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

Joshua D. Glawson: How America’s money devolved from gold and silver to fiat

Submitted by admin on Mon, 2024-09-09 21:45 Section: Daily Dispatches

By Joshua D. Glawson
Money Metals Exchange, Eagle, Idaho
Monday, September 9, 2024

Imagine a street performer standing behind a small table, moving three shells around at lightning speed, concealing a pea beneath one of them. As the audience watches closely, they try to follow the pea’s location, only to realize that no matter how well they track it, they’ve been fooled. 

Now replace that street performer with the Federal Reserve and the U.S. government, the shells with gold, silver, and paper money, and the pea with real value. 

This, dear reader, is how the public got tricked into believing in fiat currency — a shell game of epic proportions. …

… For the remainder of the commentary:

https://www.moneymetals.com/guides/shell-game-how-americas-money-devolved-from-gold-to-fiat

* * *

END

Cryptocurrency Tether enables a parallel economy that operates beyond U.S. law enforcement

Submitted by admin on Tue, 2024-09-10 10:37 Section: Daily Dispatches

By Angus Berwick and Ben Foldy
The Wall Street Journal
Tuesday, September 10, 2024

A giant unregulated currency is undermining America’s fight against arms dealers, sanctions busters and scammers. Almost as much money flowed through its network last year as through Visa cards. And it has recently minted more profit than BlackRock, with a tiny fraction of the workforce.

Its name: tether. The cryptocurrency has grown into an important cog in the global financial system, with as much as $190 billion changing hands daily.

In essence, tether is a digital U.S. dollar –though one privately controlled in the British Virgin Islands by a secretive crew of owners, with its activities largely hidden from governments. 

Known as a stablecoin for its 1:1 peg to the dollar, tether gained early use among crypto aficionados. But it has spread deep into the financial underworld, enabling a parallel economy that operates beyond the reach of U.S. law enforcement.

Wherever the U.S. government has restricted access to the dollar financial system — Iran, Venezuela, Russia — tether thrives as a sort of incognito dollar used to move money across borders. …

… For the remainder of the report:

https://www.wsj.com/finance/currencies/tether-crypto-us-dollar-sanctions-52f85459

END

AngloGold makes $2.5 billion deal for Centamin, targets ‘Tier 1’ assets

Submitted by admin on Tue, 2024-09-10 17:35 Section: Daily Dispatches

By Nelson Banya and Aby Jose Koilparambil
Reuters
Tuesday, September 10, 2024

AngloGold Ashanti is now in a position to pursue growth through the acquisition of high-value assets, CEO Alberto Calderon said today, after the miner agreed to buy Egypt-focused smaller rival Centamin in a $2.5 billion stock and cash deal.

Shares in Centamin jumped over 20% to their highest level since October 2020, while those of its London-listed peer Hochschild rose over 2.5%. New York-listed AngloGold’s were down 8%.

Calderon, appointed CEO in 2021, said AngloGold had over the past three years worked to “put its house in order” before scouring for acquisition targets.

“At some point we would start looking for deals that would enhance our focus on Tier 1 assets,” Calderon said during a call, referring to high-value, low-cost projects or operations with a long life.

“This will open the way for a lot of interesting strategic possibilities in AngloGold,” he added. …

… For the remainder of the report:

https://www.reuters.com/markets/deals/anglogold-ashanti-buy-centamin-25-bln-deal-2024-09-10/

Join GA

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/WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED DOWN 22.40 PTS OR 0.82% //Hang Seng CLOSED DOWN 125,38 PTS OR 0.73% // Nikkei CLOSED DOWN 539.39 OR 1.49%//Australia’s all ordinaries CLOSED DOWN 0.27%///Chinese yuan (ONSHORE) CLOSED UP TO 7,1141 CHINESE YUAN OFFSHORE CLOSED UP TO 7.1176/ Oil DOWN TO 67.30 dollars per barrel for WTI and BRENT DOWN AT 70.66 Stocks in Europe OPENED ALL GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGR

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

ONSHORE YUAN:   CLOSED UP TO 7.1114

OFFSHORE YUAN: DOWN TO 7.1176

SHANGHAI CLOSED DOWN 22,40 PTS OR 0.82 %

HANG SENG CLOSED DOWN 125,38 PTS OR 0.73%

2. Nikkei closed DOWN 539,39 PTS OR 1.49%

3. Europe stocks   SO FAR:  ALL MOSTLY GREEN

USA dollar INDEX DOWN TO  101.36 EURO RISES TO 1.1052 UP 32 BASIS PTS

3b Japan 10 YR bond yield: FALL TO. +0.851 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 141,75…… 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 UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP

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

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

3g Oil 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 +2.1250Italian 10 Yr bond yield DOWN to 3.481SPAIN 10 YR BOND YIELD DOWN TO 2,944

3i Greek 10 year bond yield DOWN TO 3.133

3j Gold at $2525.50/Silver at: 28.84  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 4/ 100  roubles/dollar; ROUBLE AT 90.96

3m oil into the 67 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 141,75  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 0.851 % 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 0.8462 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9352 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: 3.624 DOWN 2 BASIS PTS…

USA 30 YR BOND YIELD: 3.940 DOWN 2 BASIS PTS/

USA 2 YR BOND YIELD:  3.586 DOWN 3 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 33,98…

10 YR UK BOND YIELD: 3.8115 DOWN 6 PTS

10 YR CANADA BOND YIELD: 2.902 DOWN 2 BASIS PTS

5 YR CANADA BOND YIELD: 2.736 UP 1 PTS.

2a New York OPENING REPORT

Futures, Dollar Slide After Presidential Debate As CPI Looms

Wednesday, Sep 11, 2024 – 08:13 AM

US futures, the dollar and treasury yields are all lower post-Debate and pre-CPI but off session lows. As of 8:00am, S&P futures are down 0.1%, recovering from a loss of 0.5% earlier; Nasdaq futures were down 0.2% with Mag7 and Semis lower as Energy stocks rebound from yesterday’s drubbing. Treasuries had minimal moves during the debate, but yields are 3-4bps lower now, hitting fresh 2024 lows. USD is lower and commodities are higher led by Energy, Ags, and Precious, with oil rebounding from Tuesday’s rout. The macro data focus today is on the CPI print (full preview here) and the 10Y bond auction.

Betting markets indicate a Harris victory in the debate as her odds to win had her leading Trump by 1-point as the debate started to now 11-points this morning, a signal that many expect her candidacy to earn a boost from Tuesday’s proceedings. Her odds of winning the election increased on the betting website PredictIt to 57%, compared with 53% before the debate. The reaction in assets confirmed this shift in sentiment:  the dollar is weaker and US domestic equities are broadly lower. Stocks in renewable energy producers rose, gaining strength from the debate and Harris’ advocacy of green energy. Meanwhile, Trump’s support of the crypto sector and the Democrat’s endless feud, fueled a pullback in the price of Bitcoin.

“Markets may want to wait on new opinion polls in the coming days to take more decisive positions on the election,” ING Groep NV currency strategists including Francesco Pesole wrote in a note to clients. “For now, indications that Harris won this debate, even if by a small margin, can keep a lid on the dollar.”

The threat of far-reaching tariffs is shaping up to be among the biggest risks to markets. While Trump placed tariffs on more than $300 billion of Chinese goods as president and sought to block countries from buying Huawei Technologies Co. equipment for 5G networks, Harris’ stance is lesser known after she joined the ticket late.

“Historically I would have said: don’t waste too much time thinking about a presidential election,” said Ronald Temple, chief strategist at Lazard Asset Management. “But I think it is consequential because you are talking about a huge amounts of tariffs. Right now the market is not pricing a global trade war.”

In premarket trading, GameStop tumbled 10% after the video-game retailer reported second-quarter net sales that disappointed. Baird said the results demonstrated the ongoing challenges to the company’s retail business model. Dave & Buster’s jumped 13% after the restaurant chain reported second-quarter profit that came in ahead of estimates. Analysts highlighted the company’s margin performance. Here are some other notable movers:

• Designer Brands (DBI) drops 25% after the parent company of footwear and accessories chain DSW reported an unexpected decline in comparable sales for its second quarter.
• Trump Media & Technology falls 13% following the US presidential debate between Democratic nominee Kamala Harris and Republican rival Donald Trump.
• Viking Therapeutics rises 3% after JPMorgan initiated coverage of the obesity drug developer with an bullish rating  rating and ahead obesity pill data.
• Viridian Therapeutics slips 2% as the drug developer offers $150 million in common shares and convertible preferred stock.

Worries over a global slowdown in growth have resurfaced with oil trading below $70 and global bond yields retreating to a two-year low this week. Investors’ attention is on the US consumer price index due later Wednesday, expected to show another month of muted increases, and the Fed policy meeting next week.

“We do think that the downside risks for growth are higher than the upside risks for inflation,” Cameron Dawson, chief investment officer at NewEdge Wealth, said in an interview with Bloomberg TV. “If you look at wage growth, there’s really no signs that wage growth is picking up.”

As discussed in our preview, the CPI report later will probably show US consumer prices climbed in August at the slowest pace in more than three years, but the question for policymakers is whether the data warrants an outsized interest rate cut of 50 basis points, or whether a quarter-point interest-rate cut is enough. Traders are fully pricing a smaller cut, while still betting on at least one 50 basis-point Fed rate cut this year — just probably not before the Nov. 5 election.

European stocks tick higher as investors await sensitive US inflation data due later on Wednesday for clues about the Federal Reserve’s near-term policy moves. The Stoxx600 was up 0.6%, as mining stocks and retailers outperform, with Zara-owner Inditex rallying after reporting rising sales in the third quarter. Telecoms and health care stocks lag. Here are the most notable European movers:

• Commerzbank shares gain as much as 18%, the most since March 2020, after the German government announced it has sold its 4.5% stake in the lender to Italy’s UniCredit, taking the Italian lender’s stake to 9%.
• Deliveroo shares rise as much as 8.3% after the food-delivery company said it proposes to transfer its listing to a category that will allow the stock to be included in FTSE benchmarks.
• Inditex shares rise as much as 2.9% after the Zara owner reported first-half Ebit above estimates.
• AstraZeneca shares slip as much as 1.8%. Nordea downgrades the stock, saying the pharma firm’s growth is set to “drop drastically” heading into 2025.
• Nolato shares climb as much as 10% after the Swedish plastics firm’s stock was upgraded to buy from hold at Carnegie, with the broker seeing “improved risk/reward after share price decline since 2Q report.”
• Trustpilot shares gain as much as 9.6%, the most in almost six months, after the online review platform said it now expects full-year adjusted Ebitda to be toward the top end of market expectations.
• Rentokil shares plunge as much as 20% to the lowest since April 2020. The pest control business issued a surprise downgrade to its growth ambitions in North America.
• Novartis shares drop as much as 2.7% after being downgraded to neutral from buy at Bank of America Global Research, which cited a “slower catalyst path to year-end.”
• Neste shares fall as much as 5% after the firm cut its full-year guidance for renewable products.
• Santander Bank Polska shares drop as much as 9.5% after its owner Banco Santander sold a 5.2% stake via accelerated book-building, a move seen as surprising by analysts.
• Jet2 shares drop as much as 4.7% after former Chairman Philip Meeson sold 5 million shares in the company to a limited number of institutional investors.
• Husqvarna shares drop as much as 7%, to the lowest since October 2022, after the maker of outdoor power products issued a profit warning.

Asian equities fell for the third successive session as weakness in Japan deepened amid a strengthening yen. Chinese stocks resumed their decline. The MSCI Asia Pacific Index fell as much as 0.7%, with Toyota Motor, Samsung Electronics and Commonwealth Bank of Australia among the biggest drags. Chinese shares in Hong Kong and the mainland closed lower as investors continued to fret over the outlook for Asia’s largest economy and as sentiment remained muted around the US presidential debate. In Japan, the Topix index fell for a sixth straight day, the longest streak since July 2023, as concerns over the impact of a stronger local currency on exporters’ earnings lingered. Other major markets including Australia, South Korea and Taiwan also closed lower.

“We are strategically underweight China equities in global and EM equity baskets, due to the structural slowing of growth and low EPS prospects,” Alex Ng, head of research at Fortress Hill Advisors, wrote in a note on Smartkarma. “Further targeted policies from China authorities could cause intermittent trading-driven short-covering, but aggressive game-changing policy would be required to sustain a rally.”

In FX, the Bloomberg dollar spot index falls 0.2%. NZD and GBP are the weakest performers in G-10 FX. The yen extended gains, partly spurred by hawkish commentary from a BOJ official, boosting the yen to as high as 140.71 per dollar before it pared some gains to around the 141 level. Swiss franc see haven demand ahead of US CPI data.

In rates, treasuries are slightly richer across the curve with gains led by long-end after benchmark yields touched new YTD lows during European morning. Long-end yields remain richer by ~2bp after falling as much as 4bp, marginally outperforming shorter maturities; 10-year at 3.625% outperforms bunds in the sector while trailing gilts. $39b 10-year reopening at 1pm New York time is poised to draw lowest yield since May 2023; WI yield is ~33.5bp richer than last month’s, which tailed by 3.1bp in a soft reception. Gilts outperform bunds and Treasuries across the curve.

In commodities, west Texas Intermediate crude rebounded on Wednesday after plummeting as much as 5% in its previous session. WTI crude oil futures are up more than 2% from Tuesday’s lowest closing level since December 2021. Crude has tumbled by almost a fifth so far this quarter on concerns that slowing growth in the US and China, the leading consumers, will crimp demand at a time of robust and expanding supplies. Spot gold rises roughly $9 to trade near $2,525/oz. Spot silver gains 1.4% near $29. Bitcoin drops.

Looking at today’s calendar, the August CPI data are due at 8:30am New York time. The session also includes 10-year note reopening, following strong demand for Tuesday’s 3-year note auction.

Market Snapshot

• S&P 500 futures down 0.3% to 5,489.00
• STOXX Europe 600 up 0.3% to 509.22
• MXAP down 0.4% to 179.12
• MXAPJ down 0.2% to 557.11
• Nikkei down 1.5% to 35,619.77
• Topix down 1.8% to 2,530.67
• Hang Seng Index down 0.7% to 17,108.71
• Shanghai Composite down 0.8% to 2,721.80
• Sensex down 0.2% to 81,755.05
• Australia S&P/ASX 200 down 0.3% to 7,987.87
• Kospi down 0.4% to 2,513.37
• German 10Y yield little changed at 2.12%
• Euro up 0.2% to $1.1046
• Brent Futures up 1.7% to $70.37/bbl
• Gold spot up 0.3% to $2,523.20
• US Dollar Index down 0.21% to 101.42

Top Overnight News

• China Renaissance, one of the country’s leading tech sector investment banks until the disappearance of its founder Bao Fan last year, was ordered to wire authorities Rmb78mn ($11mn) after its star dealmaker went missing, according to a company filing. FT
• Washington for the first time has accused China of directly supporting Putin’s war in Ukraine, a fresh source of tension between the Biden and Xi governments. FT
• Yen rallies vs. the USD after a BOJ official signaled the central bank was prepared to continue raising rates if economic data was consistent with expectations. BBG
• Commerzbank is open to talks about a potential tie-up with UniCredit, according to people familiar with the discussions, after the Italian bank built a 9 per cent stake in its German rival and announced it was taking regulatory steps to increase its stake further. FT
• Ukraine urged by its Western supporters to develop a “Plan B” for the war and outline a credible list of potential achievements for the next 12 months. WSJ
• Mexico’s Senate approved President AMLO’s controversial plan to overhaul the judicial system after a key opposition lawmaker switched sides to vote in favor. The Mexican peso erased its losses. BBG
• Vice President Kamala Harris put former President Donald Trump on the defensive in their first presidential debate, provoking him over crowd sizes at his rallies and his felony convictions—a sign of how the race has been upended with her ascent to the top of the ticket. The race was essentially tied heading into Tuesday night’s event, polls showed, and it didn’t appear that the debate would shake up the contest, though some Republicans worried afterward about Trump’s performance. WSJ
• Hurricane Francine gained strength and is expected to make landfall in Louisiana today, after forcing some offshore oil platforms in the Gulf of Mexico to be shuttered. Earlier forecasts that the storm would reach Category 2 have been revised downward. BBG
• We expect a 0.23% increase in August core CPI (vs. 0.2% consensus), corresponding to a year-over-year rate of 3.17% (vs. 3.2% consensus). In terms of the market’s reaction function, the desk’s view is that a soft print close to expectations is likely the best outcome: it will allow some event risk to pass and equity vol to settle slightly lower very near-term. Scenarios where the data is deemed too hot or too cold could introduce more uncertainty around the Fed’s path, or the current level of US growth. GS GBM

A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data. ASX 200 trickled lower as weakness in tech and financials overshadowed the gains in commodity-related stocks. Nikkei 225 was pressured amid currency strength and after BoJ’s Nakagawa kept the door open for further hikes. Hang Seng and Shanghai Comp conformed to the downbeat mood with the former dragged beneath the 17,000 level amid heavy losses in energy stocks, while there was very little to spur a turnaround.

Top Asian News

• BoJ Board Member Nakagawa said one-sided yen falls subsided somewhat but rising import prices could affect consumer inflation with a lag and stated that prolonged inflation overseas could put upward pressure on Japan’s import prices. Nakagawa said even after the July rate hike, real interest rates remain deeply negative and accommodative monetary conditions are maintained. Furthermore, she said if long-term rates spike, the BoJ could review its taper plan at its policy meeting as needed and that the BoJ is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
• RBA’s Hunter said the labour market is still tight relative to full employment and has moved towards better balance since late 2022, while she added that the easing in the labour market similar to past mild downturns. Hunter also stated that Australia’s economy is moving through a turning point and that turning points are innately challenging and tough.

European bourses, Stoxx 600 (+0.2%) began the session modestly in the green and generally traded near session highs throughout the European morning; in recent trade sentiment in the complex has slipped slightly, with indices displaying more of a mixed picture. European sectors hold a strong positive bias; Retail takes the top spot, propped up by post-earning gains in Inditex (+4%). Healthcare is found at the foot of the pile, continuing the losses seen in the prior session. In terms of individual movers, Commerzbank (+17%) soars after UniCredit (+1.9%) bought shares in the Co. from the German Government. US equity futures (ES -0.4%, NQ -0.4%, RTY -0.7%) are lower across the board, with slight underperformance in the economy-linked RTY as traders digest the Presidential Debate; CNN opinion polls suggest that 63% of voters thought candidate Harris won the debate.

Top European News

• HSBC Signals Maltese Exit Days After New CEO Takes Charge
• GTCR Is Said in Advanced Talks to Buy German Drugmaker Stada
• Infineon Breakthrough to Lower Costs for New-Generation AI Chips
• Deliveroo Soars on Move That Would Allow FTSE Index Inclusions

FX

• USD is softer vs. most peers with the DXY dragged lower by a notable pick-up in the JPY and in the backdrop of the Presidential Debate, where CNN polls suggest Harris won vs Trump. Her candidacy is broadly seen as USD-negative given expectations of easier Fed policy (compared to Trump). US CPI will be the next inflection point for the index.
• EUR is firmer vs. the USD with the broadly softer USD providing EUR/USD some reprieve after three sessions of losses which dragged the pair to a 1.1015 low yesterday.
• GBP is unable to materially capitalise on the broadly softer USD as soft UK data acts as a drag. The UK registered 0 growth in July (vs. Exp. 0.2%) with output data also soft across the board. Cable has returned to a 1.30 handle after topping out at 1.3111.
• JPY is the clear outperformer vs. the USD across the majors with the move being attributed to some of the risk-aversion seen in stocks overnight and comments from BoJ’s Nakagawa. As the European morning progressed, USD/JPY has bounced off worst levels and has attempted to pare some of the overnight losses.
• Contained trade for the antipodes with AUD slightly edging out its NZD counterpart. AUD/USD remains sandwiched within its 100 and 200DMAs at 0.6648 and 0.6668 respectively.
• PBoC set USD/CNY mid-point at 7.1182 vs exp. 7.1198 (prev. 7.1136).

Fixed Income

• USTs have extended on their recent upside amid a slew of factors, including yesterday’s strong 3yr auction, anticipation of Fed easing ahead of CPI, recent downside in oil prices and Harris’ performance in the debate last night. The 2yr yield is at its lowest level since September 2022.
• EGB price action is similar to peers; Bunds have continued their recent bullish run. It remains to be seen how much legs this move has as focus tomorrow will shift to Eurozone-specific developments with the ECB policy announcement. From a yield perspective, with the 10yr moving as low as 2.112%. The German 10yr auction had little impact on Bunds.
• Gilts are outpacing peers as a combination of catch-up trade with other peers and soft UK data. On the latter, the M/M GDP print for July came in at 0% vs. Exp. 0.2%, whilst production, industrial and construction output all came in lower than expected. The 10yr has been as low as 3.771%. The 10yr auction was slightly softer than prior, and led to some pressure in Gilts.
• UK sells GBP 3.75bln 4.25% 2034 Gilt: b/c 2.84x (prev. 2.93x), average yield 3.757% (prev. 4.082%), tail 1.3bps (prev. 0.5bps)
• Germany sells EUR 3.688bln vs exp. EUR 4.5bln 2.60% 2034 Bund: b/c 2.1x (prev. 2.0x), average yield 2.11% (prev. 2.22%), retention 18.04% (prev. 18.44%)

Crude

• Crude is firmer on the session thus far, and has been gradually edging higher in the European morning, in a paring to some of the hefty losses seen in the prior session. Brent’Nov sits in a USD 69.31-70.81/bbl range.
• Spot gold is on the front foot, initially benefiting from the softer Dollar; price action today has been contained within a USD 2,515-529/oz range.
• Base metals trade higher across the board in what is seemingly a broader Dollar-induced recovery across industrial commodities.
• US Private Inventory Data (bbls): Crude -2.8mln (exp. +1.0mln), Distillate +0.2mln (exp. +0.3mln), Gasoline -0.5mln (exp. -0.1mln), Cushing -2.6mln.
• NHC said Francine is moving towards the Louisiana coast, with a life-threatening storm surge and hurricane-force winds expected to begin in Louisiana on Wednesday, but noted Francine is expected to weaken quickly after it moves inland.
• NHC said Hurricane Francine a little stronger, life threatening storm surge and hurricane force winds expected to begin in Louisiana today

Geopolitics: Middle East

• Israeli army radio said the Israeli army attacked Hezbollah positions in southern Lebanon during the night and destroyed about 25 rocket launchers, according to Sky News Arabia.
• US Defence Secretary Austin spoke with his Israeli counterpart Gallant to express grave concern for the IDF’s responsibility for the “unprovoked and unjustified death” of an American in the West Bank, while he urged Gallant to reexamine the IDF’s rules of engagement while operating in the West Bank.

Geopolitics: Other

• Ukraine Foreign Ministry spokesman said Kyiv will consider its options and could even cut ties with Tehran if Russia uses Iranian missiles in the Ukraine war.
• US President Biden said they are working that out now when asked about potentially lifting the Ukraine long-range weapons ban, according to Reuters.
• A cargo train derailed in Russia’s Belgorod region due to outside ‘interference’, according to Russian agencies.
• Russia’s Chairman of the State Duma, on the potential supplies of western long-range weapons to Ukraine, said Russia will have to respond by using more powerful and destructive weapons.

US Event Calendar

• 07:00: Sept. MBA Mortgage Applications 1.4%, prior 1.6%
• 08:30: Aug. CPI MoM, est. 0.2%, prior 0.2%
• 08:30: Aug. CPI Ex Food and Energy MoM, est. 0.2%, prior 0.2%
• 08:30: Aug. CPI YoY, est. 2.5%, prior 2.9%
• 08:30: Aug. CPI Ex Food and Energy YoY, est. 3.2%, prior 3.2%
• 08:30: Aug. Real Avg Hourly Earning YoY, prior 0.7%
• 08:30: Aug. Real Avg Weekly Earnings YoY, prior 0.4%

DB’s Jim Reid concludes the overnight wrap

One of the themes from our new chart book is the US election, and last night saw Kamala Harris and Donald Trump go head-to-head in what may well be their only TV debate of this election. If you just base it off PredictIt markets, Harris will have come out the happier as her probability of winning the Presidency has edged up from 52% pre-debate to 55% as I type this.

It’s clearly impossible to isolate the direct impact of the debate but S&P 500 (-0.52%) and NASDAQ 100 (-0.65%) futures moved lower through the debate, and 10 year USTs yields have moved -2.5bps lower overnight with the dollar also slightly weaker. Bitcoin, which is seen as a Trump trade, has fallen -2.5% since the start of the debate. So the market for now seems to have some agreement with the probabilities above as to how the debate went. We will see how it resonates from here.

Elsewhere it’s a softer Asia session with the Hang Seng (-1.49%) leading losses and with the Nikkei (-0.81%) also losing ground as the Japanese yen has strengthened +0.77% against the dollar and is rising for the second consecutive day. It’s trading at 141.39 against the dollar, hitting its strongest level since 02 January after the BOJ Board Member Junko Nakagawa in her speech signalled the readiness of the central bank to continue raising interest rates if its price and economic outlooks are met.

Ahead of the debate, markets saw a mixed session though increased rate cuts hopes and an improved tech mood helped the S&P 500 +0.45% higher by the close, albeit one that’s been reversed this morning. Treasuries continued their advance amid a further retracement in oil prices and an earlier risk-off mood as global banks had a difficult day after an earnings expectations warning from JPM. In all, there wasn’t a single catalyst but the macro back-and-forth continued as markets try and work out whether the Fed are likely to cut by 25bps or 50bps next week. We’ll get another piece of the jigsaw today with the US CPI release, but if it’s anything like the jobs report last Friday, it’s entirely plausible that it fails to resolve the debate either way, and markets are still left wondering about the decision going into the weekend.

In terms of what to expect from the CPI print, our economists are expecting headline inflation to come in at +0.20% for the month, which would bring year-on-year CPI down to +2.6%. That would be the lowest annual inflation rate since March 2021, so it would cement the view that inflation risk is receding and the Fed are now in a position to cut rates again. Meanwhile for core CPI, they see that coming in at +0.23% for the month, leaving the annual rate unchanged at +3.2%. Our economists point out that one area to focus on will be rental inflation, where there was a surprise move higher in July, so the question is whether that was a one-off or not. Their forecast is that primary and owners’ equivalent rents should come in at +0.32% and 0.30%, respectively, falling back from their levels in July and closer to those seen in June.

Of course, the big question is what the release might mean for the Fed’s decision, which is now just one week away. Currently, markets are still pricing in a decent 32% chance that the Fed will kick off with a 50bp cut. That probability had come down over the previous few sessions, particularly after payrolls was still running at +142k, which isn’t where you’d expect to be in a recession. Moreover, the speakers we did hear from on Friday kept their options open, and other central banks like the ECB and the Bank of Canada haven’t been pursuing 50bp cuts either. So if the Fed did move at the faster pace, that would (so far at least) leave them as the outlier in terms of how quickly they’re easing policy.

While September Fed pricing was little changed, the total amount of rate cuts priced over the next 12 months rose to a new high of 240bps (+8.2bps on the day). From the Fed’s perspective, one trend that’s helping to remove inflationary pressures has been the sharp decline in oil prices over recent weeks. In fact, yesterday saw Brent crude oil (-3.69%) close beneath $70/bbl for the first time since December 2021. That continues a declining trend for oil recently as it was only on July 5 that Brent crude peaked at almost $88/bbl intraday, so we’ve seen a significant move in the last couple of months. The losses have been driven by a range of factors, but fears of a sharper downturn for the global economy have been significant, given the correlation between oil and broader economic demand.

With inflationary pressures subsiding, that in turn helped to lower sovereign bond yields on both sides of the Atlantic yesterday. For instance, the 10yr Treasury yield (-5.7bps) closed at 3.64%, which is its lowest closing level since June 2023 and with another -2.5bps fall this morning after the debate. Similarly, the 2yr yield (-7.4bps) was down to 3.60%, the lowest since September 2022. Unsurprisingly, that happened alongside a clear decline in inflation expectations, and yesterday saw the 10yr inflation swap close at just 2.24%, which is its lowest level since January 2021, before inflation began to spike higher in a serious way that year. Those moves were also echoed in Europe, where yields on 10yr bunds were down to just 2.13% by the close, which we haven’t seen since January 05.

In the meantime, equities had a topsy-turvy day, with the S&P 500 recovering from trading -0.5% lower around the European close to end the session +0.45% higher. Tech stocks drove the advance, with the NASDAQ up +0.84% and the Magnificent 7 +1.51% higher, the latter led by a +4.58% rise for Tesla. Oracle (+11.44%) was the best performer in the S&P 500 after reporting stronger growth in its cloud services business the previous evening. However, the gain for the S&P 500 was limited by a slump among energy companies (not helped by the fall in oil prices) and banks in particular. The S&P 500 banks subindex was down -2.88% yesterday, which is its worst daily performance in nearly four weeks. JPMorgan (-5.19%) led this decline, posting its worst day since April after its President said that, given current rate expectations, net interest income next year “will be lower” than estimated by analysts. Other financial bosses were generally also cautious at the industry conference where the JPM news emerged from.

The poor performance of banks came even after a significant update yesterday from the Fed on the Basel III endgame proposal, in a speech from Fed Vice Chair for Supervision Barr. Under the re-proposals he outlined, aggregate common equity tier 1 capital requirements for global systemically important banks (G-SIBs) would only rise by 9%, rather than 19% as planned before. For large banks that aren’t G-SIBs, they would see a 3-4% increase in capital requirements. With watering down of the original proposals having been largely expected, it was companies’ commentaries that dominated, leaving a more cautious backdrop for US banks.

Finally in Europe, there were losses across the major indices. That included a -0.54% decline for the STOXX 600, marking its 5th decline in the last 6 sessions. The Stoxx banks index (-1.49%) was dragged down along with US peers. Germany’s DAX (-0.96%) underperformed, led by a -11.15% decline for BMW as the automaker warned its profit this year would be impacted by a major recall and weak China demand. Other European indices also retreated, including the FTSE 100 (-0.78%), the CAC 40 (-0.24%).
To the day ahead now, and the main data highlight will be the US CPI release for August. Otherwise, we’ll get the UK GDP reading for July. And in the US, a 10yr Treasury auction is also taking place.10,08578

2B) European report

US equity futures lower & DXY subdued following the US Presidential Debate ahead of US CPI – Newsquawk US Market Open

Wednesday, Sep 11, 2024 – 06:09 AM

• European bourses are mixed having initially opened with a clear positive bias; US equity futures are entirely in the red ahead of CPI.
• Dollar is softer as markets digest the Presidential Debate; CNN opinion polls suggest that 63% of voters thought candidate Harris won the debate; gains in JPY overnight also weighed on the index
• Bonds are entirely in the green continuing the price action seen in the prior session; Gilts outperform after softer-than-expected UK GDP metrics
• Crude gains as it attempts to pare the prior day’s losses; XAU and base metals benefit from the softer Dollar
• Looking ahead, US CPI. Supply from the US, NVIDIA CEO Huang.

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (+0.2%) began the session modestly in the green and generally traded near session highs throughout the European morning; in recent trade sentiment in the complex has slipped slightly, with indices displaying more of a mixed picture.
• European sectors hold a strong positive bias; Retail takes the top spot, propped up by post-earning gains in Inditex (+4%). Healthcare is found at the foot of the pile, continuing the losses seen in the prior session. In terms of individual movers, Commerzbank (+17%) soars after UniCredit (+1.9%) bought shares in the Co. from the German Government.
• US equity futures (ES -0.4%, NQ -0.4%, RTY -0.7%) are lower across the board, with slight underperformance in the economy-linked RTY as traders digest the Presidential Debate; CNN opinion polls suggest that 63% of voters thought candidate Harris won the debate.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• USD is softer vs. most peers with the DXY dragged lower by a notable pick-up in the JPY and in the backdrop of the Presidential Debate, where CNN polls suggest Harris won vs Trump. Her candidacy is broadly seen as USD-negative given expectations of easier Fed policy (compared to Trump). US CPI will be the next inflection point for the index.
• EUR is firmer vs. the USD with the broadly softer USD providing EUR/USD some reprieve after three sessions of losses which dragged the pair to a 1.1015 low yesterday.
• GBP is unable to materially capitalise on the broadly softer USD as soft UK data acts as a drag. The UK registered 0 growth in July (vs. Exp. 0.2%) with output data also soft across the board. Cable has returned to a 1.30 handle after topping out at 1.3111.
• JPY is the clear outperformer vs. the USD across the majors with the move being attributed to some of the risk-aversion seen in stocks overnight and comments from BoJ’s Nakagawa. As the European morning progressed, USD/JPY has bounced off worst levels and has attempted to pare some of the overnight losses.
• Contained trade for the antipodes with AUD slightly edging out its NZD counterpart. AUD/USD remains sandwiched within its 100 and 200DMAs at 0.6648 and 0.6668 respectively.
• PBoC set USD/CNY mid-point at 7.1182 vs exp. 7.1198 (prev. 7.1136).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs have extended on their recent upside amid a slew of factors, including yesterday’s strong 3yr auction, anticipation of Fed easing ahead of CPI, recent downside in oil prices and Harris’ performance in the debate last night. The 2yr yield is at its lowest level since September 2022.
• EGB price action is similar to peers; Bunds have continued their recent bullish run. It remains to be seen how much legs this move has as focus tomorrow will shift to Eurozone-specific developments with the ECB policy announcement. From a yield perspective, with the 10yr moving as low as 2.112%. The German 10yr auction had little impact on Bunds.
• Gilts are outpacing peers as a combination of catch-up trade with other peers and soft UK data. On the latter, the M/M GDP print for July came in at 0% vs. Exp. 0.2%, whilst production, industrial and construction output all came in lower than expected. The 10yr has been as low as 3.771%. The 10yr auction was slightly softer than prior, and led to some pressure in Gilts.
• UK sells GBP 3.75bln 4.25% 2034 Gilt: b/c 2.84x (prev. 2.93x), average yield 3.757% (prev. 4.082%), tail 1.3bps (prev. 0.5bps)
• Germany sells EUR 3.688bln vs exp. EUR 4.5bln 2.60% 2034 Bund: b/c 2.1x (prev. 2.0x), average yield 2.11% (prev. 2.22%), retention 18.04% (prev. 18.44%)
• Click for a detailed summary

COMMODITIES

• Crude is firmer on the session thus far, and has been gradually edging higher in the European morning, in a paring to some of the hefty losses seen in the prior session. Brent‘Nov sits in a USD 69.31-70.81/bbl range.
• Spot gold is on the front foot, initially benefiting from the softer Dollar; price action today has been contained within a USD 2,515-529/oz range.
• Base metals trade higher across the board in what is seemingly a broader Dollar-induced recovery across industrial commodities.
• US Private Inventory Data (bbls): Crude -2.8mln (exp. +1.0mln), Distillate +0.2mln (exp. +0.3mln), Gasoline -0.5mln (exp. -0.1mln), Cushing -2.6mln.
• NHC said Francine is moving towards the Louisiana coast, with a life-threatening storm surge and hurricane-force winds expected to begin in Louisiana on Wednesday, but noted Francine is expected to weaken quickly after it moves inland.
• NHC said Hurricane Francine a little stronger, life threatening storm surge and hurricane force winds expected to begin in Louisiana today
• Click for a detailed summary

NOTABLE DATA RECAP

• UK Services MM (Jul) 0.1% vs. Exp. 0.2% (Prev. -0.1%); YY (Jul) 1.7% vs. Exp. 1.8% (Prev. 1.2%)
• UK GDP Estimate 3M/3M (Jul) 0.5% vs. Exp. 0.6% (Prev. 0.6%); Estimate MM (Jul) 0.0% vs. Exp. 0.2% (Prev. 0.0%); Estimate YY (Jul) 1.2% vs. Exp. 1.4% (Prev. 0.7%)
• UK Construction O/P Vol YY (Jul) -1.6% vs. Exp. -0.8% (Prev. -1.7%); Construction O/P Vol MM (Jul) -0.4% vs. Exp. 0.4% (Prev. 0.5%)
• UK Goods Trade Balance GBP (Jul) -20.003B GB vs. Exp. -18.1B GB (Prev. -18.894B GB, Rev. -18.894B GB); Goods Trade Bal. Non-EU (Jul) -7.5B GB (Prev. -7.455B GB, Rev. -7.455B GB)
• UK Manufacturing Output YY (Jul) -1.3% vs. Exp. -0.1% (Prev. -1.5%); Manufacturing Output MM (Jul) -1.0% vs. Exp. 0.2% (Prev. 1.1%)
• UK Industrial Output YY (Jul) -1.2% vs. Exp. -0.2% (Prev. -1.4%);Industrial Output MM (Jul) -0.8% vs. Exp. 0.3% (Prev. 0.8%)

PRESIDENTIAL DEBATE

• US Vice President Harris said she supports small businesses and will offer a tax cut for these businesses, while she added that Trump left them with the worst unemployment rate, an economic recession and the worst attack on democracy since the Civil War. Harris stated that Trump got them into economic wars and that he thanked the Chinese President but is attacking him today. Furthermore, she said Trump favours campaigning on issues instead of solving them and that 81mln Americans fired Trump which is hard for him to realise.
• Former President Trump reiterated that millions of migrants are pouring into the country illegally and “taking our jobs before our eyes”, while he added the economy is terrible economy because of inflation which is devastating to the middle American class. Trump also commented that the Biden administration only gained “bounce back” jobs, as well as stated that Harris doesn’t have an economic plan and copied Biden’s plan.

GEOPOLITICS

MIDDLE EAST

• Israeli army radio said the Israeli army attacked Hezbollah positions in southern Lebanon during the night and destroyed about 25 rocket launchers, according to Sky News Arabia.
• US Defence Secretary Austin spoke with his Israeli counterpart Gallant to express grave concern for the IDF’s responsibility for the “unprovoked and unjustified death” of an American in the West Bank, while he urged Gallant to reexamine the IDF’s rules of engagement while operating in the West Bank.

OTHER

• Ukraine Foreign Ministry spokesman said Kyiv will consider its options and could even cut ties with Tehran if Russia uses Iranian missiles in the Ukraine war.
• US President Biden said they are working that out now when asked about potentially lifting the Ukraine long-range weapons ban, according to Reuters.
• A cargo train derailed in Russia’s Belgorod region due to outside ‘interference’, according to Russian agencies.
• Russia’s Chairman of the State Duma, on the potential supplies of western long-range weapons to Ukraine, said Russia will have to respond by using more powerful and destructive weapons.

CRYPTO

• Bitcoin slips and sits below USD 56k with Ethereum also on the backfoot and just above USD 2.3k.

APAC TRADE

• APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data.
• ASX 200 trickled lower as weakness in tech and financials overshadowed the gains in commodity-related stocks.
• Nikkei 225 was pressured amid currency strength and after BoJ’s Nakagawa kept the door open for further hikes.
• Hang Seng and Shanghai Comp conformed to the downbeat mood with the former dragged beneath the 17,000 level amid heavy losses in energy stocks, while there was very little to spur a turnaround.

NOTABLE ASIA-PAC HEADLINES

• BoJ Board Member Nakagawa said one-sided yen falls subsided somewhat but rising import prices could affect consumer inflation with a lag and stated that prolonged inflation overseas could put upward pressure on Japan’s import prices. Nakagawa said even after the July rate hike, real interest rates remain deeply negative and accommodative monetary conditions are maintained. Furthermore, she said if long-term rates spike, the BoJ could review its taper plan at its policy meeting as needed and that the BoJ is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
• RBA’s Hunter said the labour market is still tight relative to full employment and has moved towards better balance since late 2022, while she added that the easing in the labour market similar to past mild downturns. Hunter also stated that Australia’s economy is moving through a turning point and that turning points are innately challenging and tough.

2C ASIAN REPORT.

APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data – Newsquawk Europe Market Open

Wednesday, Sep 11, 2024 – 02:05 AM

• APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data.
• BoJ’s Nakagawa said that the central bank is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
• European equity futures are indicative of a subdued open with the Euro Stoxx 50 future -0.2% after the cash market closed lower by 0.7% on Tuesday.
• USD is broadly softer vs. peers, JPY outperforms due to haven flows and BoJ commentary; USD/JPY below 141.
• Looking ahead, highlights include UK GDP Estimate & Services, US CPI, Supply from UK, Germany & US.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

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SNAPSHOT

US TRADE

EQUITIES

• US stocks were mixed after rebounding from the initial financial-induced losses that were triggered by downbeat updates from Ally Financial (ALLY)(-17.6%) and JPMorgan (JPM)(-5.2%) just after the cash open which resulted in a clear flight-to-quality. Nonetheless, the major indices then gradually recovered from their lows despite the absence of any obvious catalysts although there was a slightly more encouraging update from Bank of America (BAC), while market focus turned to upcoming key events including the US Presidential Election Debate overnight and Wednesday’s US CPI data release.
• SPX +0.45% at 5,496, NDX +0.90% at 18,829, DJIA -0.23% at 40,737, RUT Flat at 2,097.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Fed’s Bowman said concerns for stress tests include volatility and transparency.
• WSJ’s Nick Timiraos said economists who produce detailed inflation forecasts expect the August CPI to have been relatively mild, as was July. Furthermore, he noted the median of these forecasts has the core CPI up 0.21%, which would hold the 12-month rate at 3.2%, while headline CPI is seen decelerating to 2.5%.

PRESIDENTIAL DEBATE

• US Vice President Harris said she supports small businesses and will offer a tax cut for these businesses, while she added that Trump left them with the worst unemployment rate, an economic recession and the worst attack on democracy since the Civil War. Harris stated that Trump got them into economic wars and that he thanked the Chinese President but is attacking him today. Furthermore, she said Trump favours campaigning on issues instead of solving them and that 81mln Americans fired Trump which is hard for him to realise.
• Former President Trump reiterated that millions of migrants are pouring into the country illegally and “taking our jobs before our eyes”, while he added the economy is terrible economy because of inflation which is devastating to the middle American class. Trump also commented that the Biden administration only gained “bounce back” jobs, as well as stated that Harris doesn’t have an economic plan and copied Biden’s plan.

APAC TRADE

EQUITIES

• APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data.
• ASX 200 trickled lower as weakness in tech and financials overshadowed the gains in commodity-related stocks.
• Nikkei 225 was pressured amid currency strength and after BoJ’s Nakagawa kept the door open for further hikes.
• Hang Seng and Shanghai Comp conformed to the downbeat mood with the former dragged beneath the 17,000 level amid heavy losses in energy stocks, while there was very little to spur a turnaround.
• US equity futures (ES -0.5%) were lacklustre with markets bracing for the incoming key US inflation data.
• European equity futures are indicative of a subdued open with the Euro Stoxx 50 future -0.2% after the cash market closed lower by 0.7% on Tuesday.

FX

• DXY softened amid the Presidential Debate although the move was predominantly influenced by strength in its major counterparts especially the yen after comments from BoJ’s Nakagawa, while the attention now turns to the looming US CPI data.
• EUR/USD mildly edged higher but remains firmly beneath the 1.1100 handle ahead of a widely anticipated ECB rate cut.
• GBP/USD eked slight gains and breached the 1.3100 level with UK monthly GDP estimates and output data due later.
• USD/JPY continued on the prior day’s retreat which had initially been spurred by haven flows, while selling was further exacerbated on a break beneath the 142.00 level following comments from BoJ’s Nakagawa that the central bank is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
• Antipodeans traded rangebound amid a lack of tier-1 releases and cautious risk appetite.
• PBoC set USD/CNY mid-point at 7.1182 vs exp. 7.1198 (prev. 7.1136).

FIXED INCOME

• 10yr UST futures extended on gains after yesterday’s bull steepening and a strong 3yr auction although further upside was limited heading into the key US inflation data and a 10yr offering.
• Bund futures reclaimed the 135.00 level to the upside to print their best levels in over a month but with trade quiet overnight amid a lack of pertinent drivers and with Bund supply scheduled later.
• 10yr JGB futures tracked the advances in global counterparts despite the comments from BoJ’s Nakagawa who suggested they will keep raising rates if inflation is on track.

COMMODITIES

• Crude futures partially nursed some of the prior day’s losses after slipping to multi-year lows with mild support following bullish private sector inventory data which showed a surprise draw in headline crude stockpiles.
• US Private Inventory Data (bbls): Crude -2.8mln (exp. +1.0mln), Distillate +0.2mln (exp. +0.3mln), Gasoline -0.5mln (exp. -0.1mln), Cushing -2.6mln.
• EIA STEO sees 2024 world oil demand of 103.1mln BPD (prev. 102.9mln BPD M/M) and sees 2025 demand of 104.6mln BPD (prev. 104.5mln BPD).
• US Port of New Orleans said terminal operations are to be shut as storm Francine approaches Louisiana and service is to resume on September 12th following damage assessments.
• NHC said Francine is moving towards the Louisiana coast, with a life-threatening storm surge and hurricane-force winds expected to begin in Louisiana on Wednesday, but noted Francine is expected to weaken quickly after it moves inland.
• Russia’s Lukoil is set to resume oil supplies via the Druzhba pipeline to Slovakia and Hungary in October after Hungary’s MOL said it had struck deals to transport crude through Belarus and Ukraine via the pipeline, according to sources.
• Spot gold eked mild gains after recently bouncing off support at the USD 2500/oz level
• Copper futures traded higher albeit with gains capped alongside the cautious risk tone.

CRYPTO

• Bitcoin was pressured overnight and retreated beneath the USD 57,000 level.

NOTABLE ASIA-PAC HEADLINES

• BoJ Board Member Nakagawa said one-sided yen falls subsided somewhat but rising import prices could affect consumer inflation with a lag and stated that prolonged inflation overseas could put upward pressure on Japan’s import prices. Nakagawa said even after the July rate hike, real interest rates remain deeply negative and accommodative monetary conditions are maintained. Furthermore, she said if long-term rates spike, the BoJ could review its taper plan at its policy meeting as needed and that the BoJ is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
• RBA’s Hunter said the labour market is still tight relative to full employment and has moved towards better balance since late 2022, while she added that the easing in the labour market similar to past mild downturns. Hunter also stated that Australia’s economy is moving through a turning point and that turning points are innately challenging and tough.

GEOPOLITICS

MIDDLE EAST

• Israeli army radio said the Israeli army attacked Hezbollah positions in southern Lebanon during the night and destroyed about 25 rocket launchers, according to Sky News Arabia.
• US Defence Secretary Austin spoke with his Israeli counterpart Gallant to express grave concern for the IDF’s responsibility for the “unprovoked and unjustified death” of an American in the West Bank, while he urged Gallant to reexamine the IDF’s rules of engagement while operating in the West Bank.
• Local Iraqi sources noted that a US forces site was targeted near Baghdad Airport, according to Sky News Arabia.

OTHER

• Ukraine Foreign Ministry spokesman said Kyiv will consider its options and could even cut ties with Tehran if Russia uses Iranian missiles in the Ukraine war.
• US issued fresh Iran and Russia-related sanctions which target Iranian air and Russian vessels, according to the Treasury Department website.
• US President Biden said they are working that out now when asked about potentially lifting the Ukraine long-range weapons ban, according to Reuters.
• A cargo train derailed in Russia’s Belgorod region due to outside ‘interference’, according to Russian agencies.

.

3 CHINA

CHINA/JAPAN

Dangerous! Japan complains after Chinese ships armed with machine guns etc near the disputed islets

(koja)

Japan Complains After Chinese Ships Armed With Machine Guns Sail Near Disputed Islets

Tuesday, Sep 10, 2024 – 11:20 PM

By Keishi Koja of Stripes.com

Japan lodged another protest with China last week, its third in less than two weeks, after it said Chinese coast guard vessels entered waters around Japanese islets in the East China Sea.

Four vessels crossed the 12-mile territorial limit claimed by Japan around the Senkaku Islands between 4 p.m. and 4:06 p.m. Friday, according to a Japan coast guard news release that day.

Japan’s Foreign Affairs Ministry then lodged complaints with the Chinese Embassy in Japan and with the Chinese government in Beijing, a ministry spokesman told Stars and Stripes by phone Monday.

Some government officials in Japan are required to speak to the media only on condition of anonymity.

Two Chinese vessels approached Taisho Island from the northwest and entered the 12-mile limit at 4 p.m. and 4:06 p.m., according to the release.

Meanwhile, the remaining pair of Chinese vessels simultaneously entered the area around Uotsuri Island, also from the northwest.

The Chinese vessels appeared to be armed with deck-mounted machine guns and were met by a larger contingent of Japanese coast guard ships, a Japan coast guard spokesman told Stars and Stripes by phone Monday.

They warned the Chinese vessels to leave the area using radio and electronic message boards, he said.

“We do not know why the Chinese vessels intruded Japanese waters,” he said. “There were no Japanese fishing boats operating in the area.”

All four vessels left Japanese waters without incident by 6:01 p.m.

The incidents marked the 32nd and 33rd times this year that Chinese coast guard vessels intruded into Japan’s territorial waters around the Senkakus, the spokesman said. The last incident occurred Aug. 28.

The Senkakus are 105 miles east of Taiwan. The islets, whose surface area amounts to about 2½ square miles, are also claimed by China and Taiwan.

The incidents followed the intrusion of a Chinese military aircraft and a survey vessel into Japanese airspace and territorial waters around Kyushu, the southernmost of Japan’s four main islands, in late August.

A Chinese Y-9 surveillance plane flew into Japanese airspace on Aug. 26 just southeast of the Danjo Islands, about 100 miles southwest of Nagasaki. It was the first time a Chinese military aircraft breached Japan’s airspace.

The flight was a “grave violation” of Japan’s sovereignty and a threat to its security, Defense Minister Minoru Kihara said during a press conference Aug. 27.

“We filed extremely severe protests through diplomatic channels on the same day and strongly asked for measures to prevent recurrences,” he said.

Five days later, a Chinese naval survey vessel navigated into Japan’s territorial waters southwest of Kuchinoerabu Island, Kagoshima prefecture.

“We expressed strong concerns and filed a protest to the Chinese government through diplomatic channels on the same day,” Chief Cabinet Secretary Yoshimasa Hayashi said during a press conference Sept. 2.

U.S. Ambassador to Japan Rahm Emanuel questioned China’s intent on his account on social platform X.

“China says it’s still ‘investigating and verifying’ the recent violation of Japan’s airspace by one of its surveillance planes,” he wrote Sept. 3. “But with a Chinese survey ship sailing into Japanese waters only the other day, two territorial incursions in less than a week looks more intentional than accidental.”

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

Orban is the only sensible guy in Europe:

(Korybko)

Orban’s Latest Ceasefire Proposal Won’t Amount To Anything For Now

by Tyler Durden

Wednesday, Sep 11, 2024 – 02:00 AM

Authored by Andrew Korybko via Substack,

Hungarian Prime Minister Viktor Orban told the press during his trip to Italy that “communication is number one, followed by a ceasefire, and only after that can we start talks about a peace agreement” between Russia and Ukraine.

He also added that the EU is against all three steps since it’s counterproductively pursuing a pro-war policy in that conflict. Here are three briefings about Orban’s peace trip over the summer for those who might have forgotten about it since then:

* 7 July: “Orban Shared Some Detailed Insight Into His Mediation Efforts”

* 20 July: “Orban’s Peace Mission Report To The EU Isn’t Anywhere As Scandalous As Some Might Think”

* 2 August: “Orban’s Insight Into The Global Systemic Transition & Hungarian Grand Strategy Is Worth Reading”

He’s therefore sincere with his ceasefire proposal, but it won’t amount to anything for now. A cessation of hostilities is completely out of the question for Russia so long as Ukraine continues occupying part of Kursk. Other “goodwill gestures” are still possible as is now known after Lavrov revealed that Russia was on the brink of reviving the grain deal this spring, but only because those are envisaged as costless means to the end of politically resolving this conflict. Here are three briefings on these calculations:

* 25 May: “Russia Is Open To Compromise But Won’t Agree To A Ceasefire That Doesn’t Meet Its Interests”

* 15 June: “What’s Really Behind Putin’s Generous Ceasefire Proposal?”

* 2 September: “Lavrov Revealed That Russia Was On The Brink Of Reviving The Grain Deal This Spring”

Considering this, the only chance for a ceasefire is if Ukraine agrees to the “goodwill gesture” of withdrawing from Kursk, though that’s unlikely after Zelensky confirmed prior speculation that his forces plan to indefinitely hold it. No progress on Orban’s proposal is therefore expected until Russia first pushes the Ukrainians out of Kursk, but there’s no telling how long that’ll take. Here are three briefings on this dimension of the conflict, which is now in its second month:

* 8 August: “Five Lessons For Russia To Learn From Ukraine’s Sneak Attack Against Kursk Region”

* 14 August: “Analyzing Putin’s Assessment Of Ukraine’s Incursion Into Kursk”

* 21 August: “Don’t Expect A Radical Response From Russia To The US’ Involvement In Ukraine’s Invasion Of Kursk”

Russia’s capture of Pokrovsk could compel Ukraine to withdraw from Kursk so as to prevent the collapse of the front lines, but there’s no guarantee that it won’t turn that city into the next Artyomovsk (Bakhmut), Avdeevka, or Mariupol, which could lead to it holding Kursk for a little longer. This sequence of events could revive interest in a ceasefire, but it might not unfold, or one side might still refuse to silence the guns even if it does. For that reason, nobody should expect a ceasefire anytime soon.

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

ISRAEL//HAMAS/

Urine bottles and bullet casings: Captives killed two days after Alkadi rescue, IDF confirms

The IDF showed footage of a Rafah tunnel where six hostages were killed after possibly surviving there for weeks.

By YONAH JEREMY BOB, HANNAH ESKINSEPTEMBER 10, 2024 19:07Updated: SEPTEMBER 10, 2024 22:15

https://player.jpost.com/public/player.html?player=jpost&media=3767937&url=https://www.jpost.com/israel-hamas-war/article-819592IDF Spokesperson Daniel Hagari showing evidence of the Hamas tunnels in children’s bedrooms, September 10, 2024. (CREDIT: IDF)

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The IDF released video footage of the tunnel in Rafah where six hostages were killed in late August.

The tunnel shaft was discovered inside a child’s bedroom in Gaza, and it extends 20 meters into the ground and connects to a 120-meter-long tunnel. The tunnel is narrow with low ceilings, no rooms, and has a metal door at its end.

“This is a ‘passage’ tunnel, not a ‘room’ tunnel. Standing up straight is impossible, and the humidity is extreme,” IDF Spokesman R.-Adm. Daniel Hagari said.

“Here, we can see their blood on the floor. This is where their final moments occurred: Hersh [Goldberg-Polin], Eden [Yerushalmi], Carmel [Gat], Ori [Danino], Almog [Sarusi], and Alex [Lobanov]. They were brutally murdered here.

“It is extremely difficult to survive in such conditions. They were heroes, coldly murdered by terrorists who build tunnels beneath children’s bedrooms and hide with captives,” he added.

Hagari noted that the evidence is still being analyzed and he displayed some of the objects found within the tunnel, indicating the prolonged stay of the hostages.

Among the objects found were bottles of urine, a makeshift bucket cesspool, women’s hygiene products, as well as various weapons, including Kalashnikov magazines and bullet shells.

The Hostages and Missing Families Forum called the “Tunnel of Horrors” footage “shocking.”

“It reveals the horrific conditions endured by Carmel Gat, Hersh Goldberg-Polin, Alex Lobanov, Almog Sarusi, Ori Danino, and Eden Yerushalmi – for 11 months. They were confined in narrow 1.5-meter tunnels, deep underground, deprived of air and sanitary conditions, and subjected to constant mental and physical abuse before their brutal execution.

“There are 101 hostages still held in Gaza, enduring unimaginable suffering. Hungry, exhausted, and tortured, they cling to a single hope: that we will continue fighting for their freedom. They trust us to bring them home.”

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The killing of the hostages has been highly controversial as many political and defense officials believe they could have been saved in a hostage exchange deal as part of a ceasefire with Hamas if Prime Minister Benjamin Netanyahu had not, in their mind, held off a deal in order to hold onto the Philadelphi Corridor in Rafah.

Controversy on the deal 

In addition, the IDF confirmed on Tuesday that the six hostages were killed by their Hamas captors on August 29, two days after the IDF rescued Israeli-Bedouin Qaid Farhan Alkadi on August 27 from a nearby tunnel.

The IDF said it does not know the exact time the six hostages were killed.

The timing essentially confirms that the six hostages were killed in response to the rescue of Alkadi. However, it also likely disqualifies drawing any direct connection to the Israeli cabinet vote on keeping the Philadelphi Corridor in any hostage deal early Friday.

Further, the IDF said it had found the bodies of terrorists nearby who might have been the killers of the hostages.

These terrorists were trying to escape the tunnel area above ground.

The IDF is analyzing the DNA of the terrorists as well as the DNA within the tunnel and relating to the hostages to see if there is a connection.

It believes that two terrorists were involved in killing the hostages.

Based on the amount of food, bathroom facilities, mattresses, and the stock of weapons nearby, the IDF estimated that the hostages and their captors had been in the area for more than a week and possibly significantly longer.

Captives kept in cages

It recalled that when it penetrated one of the largest tunnels where hostages had been kept in cages in Khan Yunis in January and later, those hostages were moved to other locations either in Khan Yunis or in Rafah.

Moreover, the IDF revealed that to find the six hostages’ bodies it had to use a D-9 armored bulldozer to break through a structure and then a mix of powerful hammers and drills to break through materials that Hamas had placed over the bodies to make it harder to discover them.

Also, the IDF said it has tried to learn lessons from this and other incidents in which its operational activities may have endangered hostages so as to minimize such risks in the future while maintaining ongoing military pressure on Hamas.

end

Israel offers Sinwar safe passage out of Gaza in exchange for hostages – report

“I’m ready to provide safe passage to Sinwar, his family, whoever wants to join him. We want the hostages back,” Israel’s chief negotiator for hostages and missing persons, Gal Hirsch, said.

By JERUSALEM POST STAFFSEPTEMBER 10, 2024 22:33Updated: SEPTEMBER 11, 2024 01:08

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Israel’s chief negotiator for hostages and missing persons, Gal Hirsch, proposed offering Hamas leader Yahya Sinwar safe passage out of Gaza in exchange for the 101 hostages in the terror group’s captivity, a Tuesday Bloomberg interview revealed. 

According to the report, the proposal to allow Sinwar’s escape from Gaza has been on the table for two days, yet it is unclear what Hamas’s response has been and whether they would accept it.

The offer was made with the intent of developing new solutions for a deal as ongoing negotiations “look more and more dim,” Hirsch explained. 

“I’m ready to provide safe passage to Sinwar, his family, whoever wants to join him. We want the hostages back. We want demilitarization, de-radicalization of course — a new system that will manage Gaza,” Hirsch stated.

“In parallel, I must work on plans B, C, and D because I must bring the hostages back home,” Hirsch added. “The clock is ticking; the hostages do not have time.” 

Hirsch also explained that until this point in negotiations, Hamas “has sought to dictate terms rather than negotiate.”

Hamas still to pay ‘high price’ 

Regarding the six hostages that were murdered in a Rafah tunnel by Hamas terrorists at the end of August, Hirsch emphasized that “there will be a price for these murders.”

The report also noted that Israel, in the past, has discussed the option of allowing Hamas leaders to have freedom through exile. 

In May, Prime Minister Benjamin Netanyahu said in the podcast “Call Me Back” that such an option has always been discussed, but noted that he thought “the most important thing is that they [Hamas] surrender. If they lay down their arms, the war is over,” Netanyahu explained. 

end

ISRAEL/HAMAS/

Gaza is basically finished//destroyed. Now the iDF will focus shifting to the north.

(JerusalemPost)

Gallant: Hamas as ‘military formation’ in Gaza is gone, IDF focus shifting to north

Defense minister tells foreign press IDF could withdraw from Philadelphi Corridor for 6 weeks in a deal to free hostages without endangering security

By ToI Staff, Agencies and Emanuel Fabian Follow
10 September 2024, 4:34 pm

Defense Minister Yoav Gallant attends an evening in honor of the Druze community in Israel, at Rabin Center, Tel Aviv, August 6, 2024. (Tomer Neuberg/Flash90)

Hamas is no longer an organized military force in the Gaza Strip after Israel’s 11-month ongoing military campaign, sparked by the terror group’s October 7 massacre, Defense Minister Yoav Gallant told foreign journalists on Monday. Later Tuesday, meanwhile, Gallant told troops that the IDF was shifting its focus from Gaza to the northern front, and that they should prepare for a ground offensive there.

“Hamas as a military formation no longer exists. Hamas is engaged in guerrilla warfare and we are still fighting Hamas terrorists and pursuing Hamas leadership,” Gallant told the foreign press, while warning that the window was closing on an opportunity to reach a temporary hostage-ceasefire deal with the Palestinian terror group, which he said could also bring calm to the volatile northern border with Lebanon.

Gallant said that conditions are ripe for at least the first phase of the proposal currently being discussed — a six-week pause in which some 30 women, children, elderly and ailing hostages would be released. However, he would not commit to a permanent end to the fighting, as Hamas has demanded, raising questions about the feasibility of a deal.

“Israel should achieve an agreement that will bring about a pause for six weeks and bring back hostages,” he said. After that period, he said, “we maintain the right to operate and achieve our goals — including the destruction of Hamas.”

The United States, along with mediators Egypt and Qatar, has been working for months to broker a hostage release and ceasefire to end the ongoing war between Israel and Hamas. A main area of disagreement has been the terror group’s demand for an end to the war and a full withdrawal of all Israel Defense Forces troops from Gaza.

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In recent weeks, Prime Minister Benjamin Netanyahu has raised a new sticking point, saying that Israel must remain stationed in the strategic Philadelphi Corridor along Gaza’s border with Egypt indefinitely.

IDF troops operate along the Philadelphi Corridor at the Gaza-Egypt border in August 2024. (IDF)

But Gallant has been quoted by Hebrew media as saying that Israel could withdraw from the corridor for six weeks — for the sake of having hostages released from Gaza — without risking Israel’s security. The two men reportedly got into a heated shouting match at a recent cabinet meeting where ministers overwhelmingly sided with Netanyahu.

During Monday’s meeting with foreign journalists, Gallant was asked about his relationship with the prime minister.

“As defense minister, my first priority is the State of Israel and those who protect it, and then everything else,” he said.

The current US-led proposal calls for a three-phase plan, beginning with the six-week pause in fighting during which Hamas would release some of 97 hostages — not all of them alive — who have been held in Gaza since the terror group’s October 7 massacre.

In exchange, Israel would free dozens of Palestinian security prisoners, withdraw troops from Palestinian population centers, allow displaced Gazans to return to their original places of residence and facilitate the influx of large amounts of humanitarian aid.

Israelis held hostage since October 7 are transferred by Hamas and Islamic Jihad terrorists to the Red Cross in Rafah, in the southern Gaza Strip, on November 28, 2023. (Photo by AFP)

Hamas released 105 civilians of 251 hostages seized on October 7 during a weeklong truce in late November, and four abductees were released before that. Eight hostages have been rescued by troops alive, and the bodies of 37 hostages have also been recovered, including three mistakenly killed by the Israeli military as they tried to escape their captors.

Hamas is also holding two Israeli civilians who entered the Strip in 2014 and 2015, as well as the bodies of two IDF soldiers who were killed in 2014.

White House national security spokesman John Kirby said on Monday that Hamas had sought changes to the evolving proposal, calling it the “main obstacle” to a deal. Hamas rejected Kirby’s allegations as “baseless” and again accused the US of hindering an agreement by siding with Israel.

Gallant cast doubt on Hamas’s intentions and was skeptical about whether the deal’s second phase — which is to include the release of the remaining hostages and a complete halt to the fighting — could be implemented.

He said repeatedly that Israel remains committed to its “war goals” — bringing home all hostages, destroying Hamas’s military and governing capabilities, and making sure the group can never threaten Israel again.

With Hamas repeatedly regrouping in areas of Gaza that IDF troops have left, and with no plan for an alternative postwar government, it remains unclear when or if these goals can be fully achieved.

IDF troops with the 162nd Division are seen operating in the Tel Sultan neighborhood of Rafah in the southern Gaza Strip in this handout photo published on September 7, 2024. (Israel Defense Forces)

Gallant accused Hamas of intransigence in the talks and called for more international pressure on the Iran-backed terror group. Still, he said that after inflicting heavy damage recently on Hamas in Gaza and Hezbollah in Lebanon, there is an opportunity for at least the first phase of the deal.

Shifting focus to Lebanon

He said he believed a truce with Hamas could also lower tensions with Hezbollah and allow Israelis who have been displaced since October 8 to return to their homes in northern Israel, near the Lebanese border.

“Achieving an agreement is also a strategic opportunity that gives us a high chance to change the security situation on all fronts,” Gallant said.

However, speaking later to troops during a drill in northern Israel simulating a ground offensive in Lebanon, Gallant said Israel was moving its focus to the northern front and they should prepare for a Gaza-style ground operation there.

“The center of gravity is moving to the north, we are nearing the completion of our missions in the south, but we have a task here that has not been carried out, and this mission is to change the security situation and return the residents to their homes,” he said to reservists of the Oded Brigade in northern Israel.

“These instructions you are waiting for, I gave in the south and saw the forces at work,” Gallant said, referring to Israel’s ground offensive in Gaza. He added that such orders “will come here as well and you should be prepared and ready to carry out this mission.”

“We are finishing training the entire order of battle for a ground operation [in Lebanon], in all its aspects,” Gallant said. “I’ve already seen in many circumstances where I stood next to troops who told me: ‘You are just talking.’ After a week I met them on the ground.”

Defense Minister Yoav Gallant speaks to reservists of the Oded Brigade during a drill in northern Israel, September 10, 2024. (Ariel Hermoni/Defense Ministry)

Hezbollah began striking Israel immediately after Hamas’s October 7 massacre ignited the war. Israel and Hezbollah have exchanged cross-border fire daily, coming close on several occasions to a full-blown war.

The fighting has forced tens of thousands of Israelis and Lebanese to flee their homes near the volatile border and 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.

Hezbollah has named 434 members who have been killed by Israel during the ongoing skirmishes, mostly in Lebanon but some also in Syria. Another 78 operatives from other terror groups, a Lebanese soldier, and dozens of civilians have also been killed.

Rockets fired from southern Lebanon are intercepted by Israel’s Iron Dome air defense system over the Upper Galilee region in northern Israel on September 4, 2024. (Jalaa MAREY / AFP)

It seems unlikely that Hamas would accept a partial deal in which it would give up the hostages — its most valuable bargaining chips — for only a brief pause in the Israeli military campaign.

But international mediators have been working on a bridging proposal that they hope could meet the demands of all sides. US President Joe Biden said last week he was “optimistic” that a deal was within reach.

At home, the Israeli government faces significant domestic pressure to reach a deal as well, particularly after the deaths of six hostages who were executed by their Hamas captors earlier this month as troops approached the area where they were being held.

Gallant described the current situation as a “strategic junction” — where Israel can reach a deal with its adversaries or risk fighting a broader war that could draw in Hezbollah and its sponsor Iran.

Gallant said he prefers a deal, but that Israel is ready for all scenarios. “We are capable of defending ourselves and we can also retaliate if necessary,” he said. “We have the ability to hit any strategic goal in Iran.”

Prime Minister Benjamin Netanyahu convenes a security cabinet meeting on July 28, 2024. (Haim Zach/GPO)

Israel’s offensive in Gaza has forced hundreds of thousands of people into tent camps and schools-turned-shelters, gutted the health system, and contributed to widespread hunger. Israel has been working with international aid workers in recent weeks on a mass vaccination program to prevent a polio outbreak in the territory from spreading.

As for the humanitarian situation, Gallant said he has assembled an advisory group of experts to focus on five areas of need: improved medical care, aid deliveries, energy, water and sanitation, and better communications with aid workers.

“We discuss and hold situation assessments on this issue twice a week,” he said.

The Hamas-run Gaza health ministry says more than 40,000 people in the Strip have been killed or are presumed dead in the fighting so far, though the toll cannot be verified and does not differentiate between civilians and fighters. Israel says it has killed some 17,000 combatants in battle and another 1,000 terrorists inside Israel on October 7.

Israel has said it seeks to minimize civilian fatalities and stresses that Hamas uses Gaza’s civilians as human shields, fighting from civilian areas including homes, hospitals, schools, and mosques.

ISRAEL/WEST BANK

END

ISRAEL /LEBANON/HEZBOLLAH

Gallant signals Lebanon IDF ground operation as Gaza action wraps up

Defense Minister Gallant oversaw military exercises in the North, thanking troops and preparing them for an impending ground operation in Lebanon.

By JERUSALEM POST STAFFSEPTEMBER 10, 2024 17:50Updated: SEPTEMBER 10, 2024 18:25

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Defense Minister Yoav Gallant oversaw the conclusion of the 9th Brigade’s exercises in northern Israel on Tuesday, which involved simulating ground combat in Lebanese territory, and stated that the IDF would operate in Lebanon.

“I’m impressed by the determination and professionalism I’ve witnessed over nearly a year, both in the North and the South,” Gallant remarked.

“The center of gravity is shifting to the north. While we are wrapping up our missions in the South, an important task remains in the North: to restore security and allow residents to return to their homes.”

Gallant continued, “In the South, I gave the order to proceed after three weeks. The same will happen here, and you must be ready to execute that mission when the time comes.”

He emphasized that the training aims to prepare all troops for a ground operation.

“This arrow is ready to be fired, and we will know when to release it,” he said. “Use this time wisely to prepare.”

The time will come

Gallant noted that some troops fighting in the South had assumed an entry into Gaza was just talk; however, within a week, he met with these same troops on the battlefield. 

“We will know when to activate you,” he warned before concluding, “You have everything you need to complete the mission.”

Gallant also thanked the commanders, soldiers, and the families supporting them.

end

ISRAEL/HEZBOLLAH

IAF kills Hezbollah Radwan Force commander in strike in Lebanon

The military further added that its artillery had fired at the Souaneh and Ayta ash Shab areas in Lebanon. 

By JERUSALEM POST STAFFSEPTEMBER 10, 2024 11:54Updated: SEPTEMBER 10, 2024 15:02

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-819491&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240910_749a777fe0bad29c5d2c96b502a5e6ed3f230bd8&useBunnyCDN=0&themeId=140&unitType=tts-player

The Israel Air Force killed a Hezbollah Radwan Force commander Mohammad Qassem Al-Sha’a in an airstrike in Qaraoun in the Beqaa Valley in Lebanon, the military said on Tuesday. 

The IDF noted that Al-Sha’a had advanced many terror activities against Israel.

The military further added that its artillery had fired at the Souaneh and Ayta ash Shab areas in Lebanon. 

Reports of a strike

Earlier, Israeli media, citing Arabic reports, said a Hezbollah operative had been killed in a targeted strike in the Beqaa Valley in Lebanon.

https://player.jpost.com/public/player.html?player=jpost&media=3767752&url=www.jpost.comAn Israel Air Force strike on a Hezbollah Radwan Force commander in Lebanon. September 10, 2024. (Credit: IDF Spokesperson’s Unit).

Earlier, Israeli media reported that a vehicle had been struck in Lebanon. 

Hezbollah announced later on Tuesday the death of Mohammad Qassem Al-Sha’a, nicknamed “Abu Houra,” who was a resident of the Beqaa Valley. 

This is a developing story.

END 

IRAN/USA EUROPE

US, Europe Hit Iran’s Aviation Sector With Fresh Sanctions Over Missile Transfers To Russia

Wednesday, Sep 11, 2024 – 04:15 AM

US Secretary of State Antony Blinken on Tuesday said that the Biden administration is readying new sanctions against the Islamic Republic of Iran over its transferring short-range ballistic missiles to Russia.

He said the sanctions come in the wake of Iran defying repeat warnings from Washington concerning the missile transfer. Blinken described that dozens of Russian military personnel have been training inside Iran, learning to operate the Fath-360 missile, with a range of 75 miles.

“We’ve warned Iran privately that taking this step would constitute a dramatic escalation,” Blinken told a press briefing in London. “Russia has now received shipments of these ballistic missiles and will likely use them within weeks in Ukraine against Ukrainians.”

“Iran’s new president and foreign minister have repeatedly said that they want to restore engagement with Europe. They want to receive sanctions relief. Destabilizing actions like these will achieve exactly the opposite,” he added, referencing the country’s recently installed President Masoud Pezeshkian.

America’s closest European allies of Germany, France and Britain have also indicated they will immediately follow the US in imposing fresh sanctions on Tehran.

But one wonders, what is there left to sanction in Iran? The West has an answer, which certainly doesn’t bode well for civilian aviation in the region…

“We will be taking immediate steps to cancel bilateral air services agreements with Iran,” the countries said in a joint statement, adding that they would also “work towards imposing sanctions on Iran Air.”

“In addition, we will pursue the designations of significant entities and individuals involved with Iran’s ballistic missile program and the transfer of ballistic missiles and other weapons to Russia,” the statement continued.

So it seems Washington and its allies are openly boasting about ratcheting the pressure even more on Iran’s already heavily sanctioned aviation sector.

This becomes more and more dangerous for basic air travel, impacting chiefly civilians, as it hinders Iran’s ability to obtain basic replacement parts and updates for aging commercial planes. The fact that the late President Hassan Rouhani’s military transport helicopter crashed in the north of the country last May, killing all on board, also demonstrates this.

As for Blinken, he also announced from London that he and UK Foreign Secretary David Lammy are about to embark on a brief joint trip to Kiev this week. “We are the closest of allies, so I’m delighted that we will travel together, demonstrating our commitment to Ukraine,” Lammy said.

Ukraine’s foreign ministry has announced that if Russia uses these Iran-made missile in Ukraine, Kiev will consider severing all diplomatic ties with the Islamic Republic.

It will be interesting to see what they announce, as such trips typically unveil some new escalatory policy. Will they together greenlight to use of long-range Western weapons on Russian territory?

ISRAEL.HAMAS/GAZA

Israeli Black Hawk Down In Rafah, Several Dead & Injured

Wednesday, Sep 11, 2024 – 10:24 AM

An Israeli Black Hawk helicopter has gone down while engaged in operations in south Gaza, which is a first of the war which has raged for over ten months.

Two soldiers were killed, and eight were injured in the crash and have been rushed to hospitals. The two deceased have been subsequently identified by the Israel Defense Forces (IDF) as 37-year old Sgt. Maj. Daniel Alloush of Tel Aviv and 38-year old Sgt. Maj. Tom Ish-Shalom of Nes Harim. Both were part of reserve forces.

Military officials are describing it as a crash and not the result of enemy ground fire, but which resulted in serious damage to the aircraft. It happened in the southern Gaza Strip city of Rafah. It has been identified as a UH-60 Black Hawk from the 123rd Squadron.

“According to an initial IAF probe, a UH-60 Black Hawk from the 123rd Squadron flew to Rafah with a Unit 669 medical team on Tuesday night to evacuate a combat engineer seriously wounded in fighting in the area,” Israeli media details.

“During the final landing stage inside an Israeli army encampment in Rafah at around 12:30 a.m., the helicopter impacted the ground instead of touching down correctly,” the same report continues.

If the Black Hawk had crashed in a more open area with active Hamas militants, there’s a high chance that the eight injured may not have made it out. But given it occurred within the confines of an IDF forward operating base, it appears the emergency response was immediate and rapid, perhaps saving more lives.

Some among the wounded are said to be critical. According to more from Times of Israel based on military statements:

Among the seriously wounded in the crash were two pilots and a mechanic with the IAF’s 123rd Squadron; and a reservist doctor and another soldier with Unit 669.

Additionally, a reservist Unit 669 doctor and another mechanic with the 123rd Squadron were moderately wounded in the crash, the IDF said.

The seriously wounded combat engineer, who was supposed to be evacuated by the crashed Black Hawk, served with the 710th Combat Engineering Battalion.

It is somewhat rare for Black Hawks to crash in active war zones, and brings up images of the most famous such incident: the Black Hawk Down Incident which occurred during the Battle of Mogadishu in October 1993 in Somalia.

Israel Black Hawk Helicopter Crash in the Philadelphi Route Area:

The crash occurred at a very low altitude, just moments before touchdown, and at a low speed. While the exact cause of the crash remains unknown.

As a result of the crash, two IDF soldiers were killed. Eight… pic.twitter.com/eyS3UnlBfL

— Boar News (@PhamDuyHien9) September 11, 2024

The result of that historic tragedy was that 18 American troops, including elite special forces commandos, were killed, and another 84 wounded. In that instance an RPG had brought the helicopter down, and the crash survivors spent hours fending off hundreds of Somali militants.

end

ISRAEL/HAMAS

RUSSIA/UKRAINE/

Nuland Admits US Discouraged Ukraine From Signing Russia Peace Deal At Moment It Was ‘Really Close’

Wednesday, Sep 11, 2024 – 05:45 AM

There’s never a dull moment when former high-ranking State Department official Victoria Nuland goes on the record for a new tell-all. She’s certainly never shy about broadcasting her role in anti-Moscow covert maneuvering and machinations.

Indeed, many already know her as Victoria-‘Fuck the EU’-Nuland and for essentially running foreign policy in Europe stretching back through the Obama years as then Assistant Secretary of State for Europe, where many of the problems which sparked the disastrous and tragic Russia-Ukraine war were first set in motion.

Exiled Russian journalist Mikhail Zygar recently sat down with her for a new interview published to YouTube earlier this month. The most interesting part of the interview was when he pressed Nuland on widespread reports saying that British Prime Minister Boris Johnson actively encouraged President Zelensky to back out of a potential peace deal with Moscow early after the Feb.2022 Russian invasion. There was a possible chance to end the war and perhaps avoid hundreds of thousands of deaths. But the West apparently convinced Zelensky to fight it out.

But a deal was on the table, and Russia was demanding a full commitment to Ukrainian neutrality regarding NATO. Nuland laid out that it was “relatively late in the game” when Kiev started seeking guidance on the peace deal from Washington and its allies. Zygar said there were statements from foreign leaders privy to the negotiations saying both sides were “really close” to achieving a deal.

“The Ukrainians began asking for advice on where this thing was going, and it became clear to us, clear to us and the Brits, clear to others, that Putin’s main condition was buried in an annex to this document that they were working on. And it included limits on the precise kinds of weapons systems that Ukraine could have after the deal,” Nuland introduced in response.

She went on to describe that Washington didn’t like that the end result of the deal would leave Ukraine “neutered” as a military force while at the same time the same limits weren’t imposed on the Russian military. “People inside Ukraine and people outside Ukraine started asking questions about whether this was a good deal, and it was at that point that it fell apart,” Nuland admitted.

Watch this section of the interview below:

Here’s what she described as her and the Biden administration’s main problem with what was on the table…

By contrast, “there were no similar constraints on Russia,” Nuland said. “Russia wasn’t required to pull back, Russia wasn’t required to have a buffer zone from the Ukrainian border, wasn’t required to have the same constraints on its military facing Ukraine.”

This constitutes significant confirmation that ultimately the US’ prime concern was not for the Ukrainian people, or for achieving peace any way possible. Instead, Washington and NATO’s ultimate goal was to ensure a weakened Russia. What Nuland is essentially saying is that if a deal didn’t ensure a weakened or limited Russian military, then they were willing to crumple it up and go home, while watching Ukraine go up in flames, which is sadly exactly what has happened.

It was Foreign Affairs which first exposed details of the peace deal, tentatively agreed upon in April 2022, which had as its focus “a permanently neutral, nonnuclear state. Ukraine would renounce any intention to join military alliances or allow foreign military bases or troops on its soil.”

But no, it was too important for US Empire to pursue the NATOization of Ukraine, and the rest is the bloody, tragic history of the last 2+ years, with nuclear-armed confrontation looming on the horizon, and no end in sight. Another question that remains is: is the mainstream media going to cover Nuland’s blunt admission? 

Wow! Nuland basically admits that Ukraine-Russia peace deal, which was close to being finalized in spring 2022, “fell apart” because US, UK & other Western governments “advised” Zelensky government that it was not “good deal” even though even members of Ukrainian delegation… pic.twitter.com/HPsrpOzQNf

— Ivan Katchanovski (@I_Katchanovski) September 8, 2024

END

RUSSIA/BRICS

ROBERT H

The coming shock of BRICS

Vladimir Putin yesterday, said this on the de-dollarization of the world economy: “

“The financial and political authorities of the United States are pushing this process forward with their not just careless, but unprofessional and stupid actions.

I think that they already understand that they made a mistake, but they simply cannot get out of this rut, it is probably no longer very convenient for them to admit that they made a mistake, but it would be necessary to correct something, they see that the tools they are using do not work. 

We are switching to national currencies and that’s it. They (American officials) can no longer do this, apparently, only those people who will replace today’s generation of politicians can do this. To change something means to admit your mistakes. Apparently, this is difficult.”

Now you understand the race for long range weapons to be used against Russia. I59 countries are ready to adopt this block chain payment system likely to be announced mid October. Weapons use is all part of maintaining hegemony. “

end

ROBERT H

Russia finishing preparations for signing new interstate agreement with Iran — Shoigu – Russian Politics & Diplomacy – TASS

“This actually ties into the missiles from Iran.
Why? Contrary to what has been reported Russia has factories in Iran that produce missiles to Russian specifications. By definition this means Iran understands and has technical staff to make similar missiles under their own brand for themselves. In ordinary industry it is called private label.
This is what has Neocons freaking out. If they can use the world factories to supply a proxy fight in Ukraine. Why cannot the Russians do the same? The obvious concern is that countries like Iran or North Korea suddenly advance in defense ability with the latest weapon systems that in reality are better than that of the West.
This is actually part of the BRICS mentality of shared security where key members advance their ability so that defense is a collective approach and not a singular one. This spreads benefits over many parties enabling technical development.
The BRICS is beyond just an alternative settlement system to the USD. It is a whole rethink of mutually security on a decentralized basis, amongst other things.”

https://tass.com/politics/1841361

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

Salmonella Outbreak Linked To Recalled Eggs Spreads Across Nine States

Wednesday, Sep 11, 2024 – 06:55 AM

The U.S. Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) have issued urgent warnings concerning a Salmonella outbreak that has affected 65 individuals across nine states. The outbreak has been traced back to eggs sold by Milo’s Poultry Farms, a company based in Bonduel, Wisconsin, according to a notice released by the FDA on September 6.

The eggs implicated in this outbreak were distributed to retailers and food service locations in Illinois, Michigan, and Wisconsin. Milo’s Poultry Farms has contacted customers who purchased the affected eggs, as indicated in the FDA’s notice.

Growing Numbers of Infections

To date, the CDC has reported 65 cases of Salmonella infections stemming from this outbreak, resulting in 24 hospitalizations. While there have been no fatalities, the CDC warns that the true number of infections is likely higher. This is due to the fact that many individuals recover from Salmonella infections without seeking medical attention and therefore are not tested or reported. The cases reported thus far occurred between May 23 and August 10.

A detailed map released by the CDC and FDA highlights that the infections have been spread across California, Utah, Colorado, Minnesota, Iowa, Wisconsin, Illinois, Michigan, and Virginia. Wisconsin and Illinois account for the majority of reported cases, with 42 and 11 cases respectively.

The CDC’s findings suggest that the outbreak might not be limited to the states where cases have already been confirmed. The agency noted that it can take several weeks to determine whether an individual is part of a broader outbreak.

Tracing the Source of Infection

Interviews conducted by state and local public health officials with affected individuals revealed that several had eaten at the same restaurants in the days before they became ill. These findings point to the likelihood that contaminated eggs were served or sold at those locations. The Wisconsin Department of Health Services reported four clusters of illness at restaurants where the recalled eggs were served, reinforcing this theory.

The eggs associated with the outbreak were labeled under the names Milo’s Poultry Farms or Tony’s Fresh Market. The FDA’s recall notice urges all retailers, restaurants, and consumers to discard the recalled eggs immediately. If the eggs were stored without their original packaging and cannot be identified as part of the recall, the FDA recommends they be thrown away as a precaution.

Symptoms and Risks of Salmonella Infection

Salmonella is a type of bacteria that can cause symptoms such as vomiting, nausea, fever, diarrhea, and stomach pain. The majority of people infected with Salmonella recover without medical treatment within a week. However, the infection can be severe for infants, young children, the elderly, those with weakened immune systems, and people taking medications that reduce stomach acidity.

In rare cases, a Salmonella infection can lead to severe complications by spreading to the blood, joints, nervous system, brain, spinal fluid, or urinary tract, potentially resulting in hospitalization or death. Some people may develop reactive arthritis, a condition characterized by joint pain that can last for months or years and may be difficult to treat.

Protective Measures

Both the CDC and FDA stress the importance of following proper food safety practices to avoid Salmonella infection. Consumers are advised to wash their hands, utensils, and food preparation surfaces with hot, soapy water before and after handling raw eggs or raw egg-containing food. The FDA also emphasizes the importance of disposing of any potentially contaminated eggs and urges vigilance for symptoms of Salmonella infection, particularly among vulnerable populations.

As the investigation continues, the public is encouraged to stay informed and heed the guidance of public health authorities to prevent further spread of this outbreak.

WORLD EVENTS NOTEWORTHY

END

MARK CRISPIN MILLER

Elton John half-blinded by “severe eye infection”; Queen’s Brian May has “medical emergency”; Cure’s Roger O’Donnell has lymphoma; singer Kaitāia, MP Sorcha Eastwood’s mate have “rare blood cancer”

TV presenter Iain Dale in hospital with “medical emergency”; Irish TV architect Dermot Bannon left “in agony” by pulmonary embolism

Mark Crispin MillerSep 11

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UNITED KINGDOM

Elton John says ‘severe eye infection’ has left him with ‘limited vision’

September 4, 2024

Sir Elton John has revealed he’s been slowly healing from a “severe eye infection” that has left his vision impaired. The 77-year-old British singer-songwriter shared the news in an Instagram post shared on Tuesday (September 3). “Over the summer, I’ve been dealing with a severe eye infection that has unfortunately left me with only limited vision in one eye. I am healing, but it’s an extremely slow process and it will take some time before sight returns to the impacted eye,” John said in the statement.

Link

Back in 2021, Elton John and Michael Caine appeared in a TV commercial to promote the U.K.’s coronavirus vaccine campaign:

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Queen guitarist Brian May suffers medical emergency

September 4, 2024

London — Brian May, the lead guitarist of British rock band Queen, revealed Wednesday that he had a “minor stroke” last week, which caused him to temporarily lose control over his arm. May, 77, said in a video on his website that he was doing “OK” but that he was “grounded” and advised not to drive, fly or do any activity which raises his heart rate too high.

Link

The Cure’s Roger O’Donnell reveals “devastating” lymphoma diagnosis

September 1, 2024

Roger O’Donnell [68] is opening up about his battle with Lymphoma one year later. The Cure keyboardist revealed his diagnosis in a post for Blood Cancer Awareness Month on Sunday after he was diagnosed with the “very rare and aggressive” cancer in September 2023 and subsequently underwent treatment.

Link

GMB star Iain Dale hospitalised for surgery as he’s offered support: ‘That was more than I expected’

September 6, 2024

Broadcaster Iain Dale [62] has temporarily stepped away from the microphone after a medical emergency led to his hospitalisation. The Good Morning Britain regular currently presents the evening show on LBC Radio. Late last night, the broadcaster shared an update on his health on social media. “At 7 am tomorrow (Fri), I’ll arrive at Benenden Hospital to have my gallbladder removed. It’s a 90-minute operation under general anaesthetic. Assuming all goes well, I’ll be home in the evening. Fingers crossed! And then I can at last return to work!” Iain wrote. The surgery, however, turned out to be more challenging than initially anticipated. Iain provided an update this morning from his hospital bed. “The part that should have taken 30-40 mins actually took 2 hours, and they nearly abandoned it. The sludge was severely impacted, and there was more infection than anticipated.”

Link

Kaitāia musician’s rare cancer diagnosis in UK sparks fundraising concert

August 29, 2024

Auckland, NZ – Kaitāia born and raised singer/songwriter Jayson Norris is in a battle for his life after being diagnosed with a rare and dangerous blood cancer in the United Kingdom. London-based Norris is facing a long and expensive battle to overcome Multiple Myeloma and the Far North’s musical community is coming together to help with a fundraising concert in Kaitāia on September 7. Werner is one of those behind the fundraising concert and said when she and others heard the terrible news, they just had to do something to help. Norris received his diagnosis in March after being ill for a year.

Link

New Alliance MP speaks about husband’s rare blood cancer diagnosis

September 3, 2024

A newly elected MP has called for cancer diagnoses to be put back on the political agenda after speaking about her [41-year-old] husband’s battle with a rare form of blood cancer. Sorcha Eastwood, the first female MP to represent Lagan Valley in Northern Ireland, said she would be “fighting tooth and nail” to make sure the NHS is funded adequately so that it “remains the way it was meant to be”.

Link

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

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IRELAND

Dermot Bannon opens up on serious health scare that left him hospitalised and ‘in agony’

September 5, 2024

The TV architect suffered a pulmonary embolism while on holiday, but was initially misdiagnosed. Dermot Bannon has opened up about suffering a pulmonary embolism over the summer when a clot worked its way from his leg into his lungs. The architect felt unwell while on a family holiday to Portugal and initially put it down to fatigue and stress. However, the pain worsened and soon he was “in agony”. The 52-year-old father of three opened up about suffering a pulmonary embolism in his lungs, that left him in so much pain it made him feel as though he had broken a rib.

Link

GERMANY

The Berlin-via-Brooklyn DJ and producer was diagnosed with the progressive neurological disease in October 2023

September 3, 2024

Friends of Berlin-via-Brooklyn DJ and producer Ciarra Black have announced a GoFundMe for her following a multiple sclerosis (MS) diagnosis. Black, who has been making music in various groups and solo projects for more than 15 years, was diagnosed with MS in October 2023. Since then, the neurological disease’s progression and treatments necessary to combat it have meant her “life has been put on hold.”

No age reported.

Link

SWITZERLAND

Winti star Buess talks about shock diagnosis and comeback plans

September 1, 2024

During a medical examination in January, Winterthur striker Roman Buess was diagnosed with a thrombosis in his head. The 31-year-old has been out of action ever since. He talks to blue Sport about his time of suffering and comeback plans. Headaches and nausea caused Roman Buess repeated problems for weeks at the end of last year. The 31-year-old gritted his teeth and simply carried on playing until the winter break. On January 2, however, nothing works anymore. Buess barely made it out of bed, let alone to the start of FCW training. Buess then undergoes a thorough check-up and receives the devastating diagnosis: thrombosis in the cerebral veins.

Link

ITALY

Elettra Lamborghini’s sudden illness: she won’t be on Radio Bruno

August 29, 2024

Bologna – Yesterday, Elettra Lamborghini  reported on her Instagram profile the onset of a sudden illness, initially mistaken for labyrinthitis. Subsequent tests have instead identified the origin of the problems “It’s not labyrinthitis”, explains Elettra on Instagram, “but paroxysmal positional vertigo. I’ve been in bed all day”. Paroxysmal positional vertigo is a bothersome complication of the otoliths of the ears that causes short-lived episodes of vertigo. Elettra Lamborghini, tells in the stories that she felt a strong dizziness that made her stagger “like a top” and made her collapse to the ground. The last stage of the Elettraton Tour 2024, scheduled for September 7 in Bonorva, is also at risk: fans are left holding their breath.

Link

Celebs:

INDIA

Dastak actress Rehana Sultan’s heart surgery delayed to financial crisis, Bollywood celebs intervene

September 4, 2024

National Film Award-winning actress Rehana Sultan recently had cardiac valve replacement surgery after facing serious breathing difficulties. According to a post shared by Viral Bhayani, Pandit mentioned that Sultan had been in contact with him for some time and had not been well. She experienced a cardiac issue related to her heart valves and started feeling very unwell about three days ago. Her brother, Rishabh Sharma, informed Pandit that she was in a serious condition and needed to be admitted to a hospital. He also mentioned that financial difficulties were causing delays in her treatment.

No age reported.

Link

Cricket Ireland says Singh faces fight for life

September 5, 2024

Ireland all-rounder Simi Singh is facing “life-threatening health circumstances” after it was reported he is suffering from acute liver failure and requires a transplant. Cricket Ireland chief executive Warren Deutrom, who confirmed the situation, described it as “shocking” to learn that 37-year-old Singh was seriously ill, and sent him “best wishes and prayers… as he takes on this new fight”. After feeling unwell in Ireland for some time, Singh returned to his native India for treatment earlier this summer. The Times of India has reported that Singh is in the Medanta Hospital in Gurgaon awaiting a transplant and that his wife Agamdeep will donate part of her liver.

Link

DR PAUL ALEXANDER

BREAKING! Illegal cartel & gang Tren de Aragua (allowed into US by Harris, Biden, Obama, Mayorkas) has entered Texas & now reports have taken over a Texas El Paso Hotel; Dr Margaret Aranda is breaking

the story! see my prior stacks…The video also shows at least one gun being shot, another used to threaten, men holding knives and another man with a hatchet assaulting people and causing damage

Dr. Paul AlexanderSep 10

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EL PASO, Texas (KFOX14/CBS4) — A hotel in downtown El Paso and its owner received a temporary injunction and restraining order from the El Paso County Attorney on Monday for alleged criminal activity and suspicions of “Tren De Aragua” gang members in the hotel.

El Paso County Attorney Christina Sanchez filed an original petition for abatement of a common nuisance, and an application for a temporary restraining order, temporary injunction, against the lodging establishment“Gateway Hotel” located at104 S. Stanton in downtown El Paso.

The Rebel Patient™

BREAKING: Reports Show Venezuelan Gang Tren de Aragua has Taken Over a Hotel in El Paso, Texas

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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30 MILLION VIEWS: Restraining Orders Filed by El Paso County Attorney

Dr Margaret Aranda

Sep 10, 2024

SLAY NEWS

Austria: Covid ‘Vaccines’ Linked to Excess Death SurgeA troubling new analysis of Austria’s official government data has shown that the nation’s excess deaths only surged among the population after people were given Covid mRNA “vaccines,” and not during the height of the pandemic.READ MORE

Dr Drew Warns Monkeypox ‘Must Be’ a BioweaponDr. Drew Pinsky has warned that evidence suggests that both monkeypox and bird flu “must be” bioweapons.READ MORE

DeSantis: Fraudulent Petitions Used to Get Radical Abortion Amendment on Florida’s BallotRepublican Governor Ron DeSantis has revealed that state officials have discovered fraudulent petitions were used to get a radical amendment on abortion added to Florida’s ballots.READ MORE

North Carolina’s Early Voting Delayed Due to RFK Jr Ballot BattleEarly voting for the 2024 elections in North Carolina has been delayed following a legal dispute over the state’s ballots.READ MORE

Trump Surges in Bombshell Poll before High-Stakes Debate with Kamala HarrisPresident Donald Trump has just received a major boost as he prepares for his first high-stakes debate with Democrat presidential nominee Kamala Harris.READ MORE

Trump Team’s Ric Grenell Raises Alarm as Communist China Buys Up American Farmland to ‘Infiltrate’ U.S Food SupplyOne of President Donald Trump’s top allies, former Director of National Intelligence (DNI) Ric Grenell, has issued a warning for voters about the Chinese Communist Party’s (CCP) efforts to buy up American farmland.READ MORE

18-Year-Old Florida High School Football Player Dies Suddenly during GameAn 18-year-old high school football player has tragically died after he “just went to the ground suddenly” during a game.READ MORE

House Report Finds Biden to Blame for Botched Afghan Withdrawal, Deaths of Service MembersA new report from the House Foreign Affairs Committee has concluded that Democrat President Joe Biden was to blame for the failings during the botched withdrawal of U.S. troops from Afghanistan in August 2021.READ MORE

Pelosi: ‘30%’ of Republican Voters Are Racist, Sexist, HomophobicDemocrat Rep. Nancy Pelosi (D-CA) has claimed that “30 percent” of Republican voters are racist, sexist, and homophobic.READ MORE

Elise Stefanik: ‘People Have Died’ Because of Kamala Harris’ ‘Open Border Czar’ RoleRepublican Rep. Elise Stefanik (R-NY) has blasted Democrat presidential nominee Kamala Harris over her failings as vice president.READ MORE

Pelosi Claims Trump Will Chicken Out of Debate with Harris: ‘I Know Cowardice When I See It’Democrat Rep. Nancy Pelosi (D-CA) has claimed that President Donald Trump will chicken out of Tuesday night’s presidential debate with Kamala Harris due to “cowardice.”READ MORE

Time Snubs Elon Musk for ‘100 Most Influential People in AI’ List Following Trump EndorsementTime Magazine has provoked a backlash after it was revealed that the publication has completely snubbed X boss Elon Musk from an artificial intelligence (AI) industry feature.READ MORE

Legal Group Warns of Voter ID ‘Loophole’ in Election Battleground: ‘Ripe for Exploitation’A legal group is sounding the alarm after uncovering a legal “loophole” in the battleground state of Wisconsin that voters to cast ballots without showing any identification.READ MORE

EVOL NEWS

What to Watch for in the Trump-Harris Debate – EVOLREAD MORE…

LATEST NEWS:

Major Study: Heart Deaths Skyrocket Among Covid-Vaccinated – EVOLRead more…Team Trump Turns To The Youngkin Playbook To Try And Flip Virginia Red – EVOLRead more…Schumer Admits He’d Rather Shut Down Gov’t Than Require Voters Prove Citizenship – EVOLRead more…RFK Jr. must be removed from North Carolina ballots, state Supreme Court rules – EVOLRead more…Kamala Harris continues to advocate for ‘decriminalizing’ illegal immigration: Gov. Glenn Youngkin – EVOLRead more…Press Release: Notice on the Continuation of the National Emergency With Respect to Foreign Interference in or Undermining Public Confidence in United States Elections – EVOLRead more…Dear racists: you eat birds, too – EVOLRead more…BREAKING: James Earl Jones dead at 93 – EVOLRead more…

NEWS ADDICTS

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

LATEST REPORTS FOR NEWS JUNKIES

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

Interesting; despite physical shortages, and huge crude draws, Cushing hits tank bottoms and the price collapses

Oil Facing Physical Shortage Crisis: API Crude Draws 9 Of Past 10 Weeks As Cushing Hits Tank Bottoms

Tuesday, Sep 10, 2024 – 07:20 PM

It was very much a given that ahead of tonight’s debate between Donald Trump and Kamala Harris, the one variable that the state does control – the price of oil – will move in the direction that gives its preferred candidate the biggest benefit, and sure enough oil plunged more than 3%, dropping to the lowest price since December 2021 (right before it quickly doubled over the next 3 months).

Yet while the pre-debate FUD was out in full force today, blaming everything from collapsing Chinese demand (which, by the way, is total bullshit as Jeff Currie explained), to soaring supply (which also is ridiculous, since oil – a commodity – trades on spot supply and demand, not what may or may not happen in 5 years),  something strange has emerged: as Goldman Yulia Zhestkova Grigsby wrote in a note today, we once again have unprecedented divergence between the physical oil market (where demand remains quite resilient) and the paper oil market (where, as noted earlier, funds and CTAs have never been more bearish).

This is what the Goldman analyst wrote (much more in the full note available to pro subs):

The Brent crude price continued sliding down over the last week to the lowest level since December 2021, with the disappointing US jobs report on Friday pushing Brent below our $70/bbl floor in tandem with the broader risk asset sell-off. An extension of OPEC+ production cuts till December helped to keep the floor under crude prices last week. Brent edged up on Monday as well on increasing risks to Gulf of Mexico oil production from the strengthening Tropical Storm Francine and on higher US SPR purchases.

Despite the macro-driven selloff, our trackable net supply decreased by -0.6mb/d last week on lower Russia and Canada production and on a moderate recovery in our China demand nowcast. In contrast to stronger physical demand, oil financial demand dropped to its new all-time low, and has plummeted by a massive average 7mb/d over the past two months. Together with the tightening physical market, any normalization from the currently extremely low speculative positioning and sizable undervaluation of the Brent 1M/36M timespread should help crude prices to recover further, and we expect Brent to average at $77/bbl next quarter.

This unprecedented divergence between paper and physical markets is why earlier today we warned that with prices artificially depressed in an environment of healthy physical buying, we will soon hit the dreaded “tank bottoms” in Cushing, which could results in a slingshot higher in prices as suddenly there is no accessible physical oil, and certainly no deliverable to satisfy all those record shorts. Think of it as a mirror image to what happened in April 2020 when the glut of oil, and inability to park it, send prices negative.

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0

There it is: record shorting by funds/CTAs despite stable physical demand. Tank bottoms coming up https://t.co/AB1OobZVQE pic.twitter.com/BDD3fq58MH

— zerohedge (@zerohedge) September 10, 2024

And we didn’t have long to wait: shortly after the close, API reported that while crude stocks tumbled again, sliding by 2.8 million (the 9th weekly draw in the past 10), with gasoline down 513K barrels and Distillates fractionally higher, it was the plunge in Cushing that was – as we expected earlier today – the biggest shock: at -2.6 million, this was the biggest weekly drain in Cushing stocks since August 18, 2023.

And while we await the DOE to confirm this report (the DOE is well-known to manipulate the data in a way that will keep oil prices depressed until such time as it can’t manipulate it any more and then prices explode), the chart of Cushing stocks – using the API update – suggests that we are now effectively at tank bottoms…

… which is stunning as it means just one large weekly draw and oil prices will absolutely erupt higher in what could be a short squeeze of financial bets for the ages.

For now, however, let the bears have their pyrrhic victory: after all, had oil not been artificially depressed to 3 year lows, Kamala would have zero talking points in today’s debate.

end

“I’ve Never Seen Anything Like That”: Jeff Currie Claims Fears Of An Oil Market Glut Are “Completely Overplayed“

Tuesday, Sep 10, 2024 – 01:55 PM

By Charles Kennedy of OilPrice.com

Oil market participants are “dramatically overestimating” a supply glut, as Chinese demand is not as doom-and-gloom as headline figures suggest and U.S. crude oil production is basically flat this year, Jeff Currie, chief strategy officer of energy pathways at Carlyle, said on Tuesday.

Fears of a major oil glut are “completely overplayed,” Currie told the Asia Pacific Petroleum Conference (APPEC) in Singapore, where executives at major oil trading houses expressed bearish views about demand and global market balances for this year and next.

According to Currie, Chinese “weaknesses in demand are being deeply exaggerated by base effects and by destocking.”

“The key issue there is, the market is dramatically overestimating that flood [in oil supply], and it’s reflected in record short positions … and I’ve never seen anything like that,” Currie said at the APPEC conference, as reported by CNBC.

Hedge funds and other money managers accelerated their selling in the most traded petroleum futures contracts in the latest reporting week to September 3. Portfolio managers slashed their overall net long position—the difference between bullish and bearish bets—to the lowest level since exchanges began compiling such data in 2011.

Rising global oil supply and weaker-than-expected demand have made traders increasingly bearish on oil prices.

The top executives of some of the biggest independent oil traders also said this week that supply is outstripping demand.

Ben Luckock, Global Head of Oil at Trafigura, expects Brent to drop into the $60s handle, although he warned that traders shouldn’t put all their eggs in the basket of shorts.

Another major oil trader, Gunvor, also expects Brent at $70. Gunvor’s co-founder and chairman Torbjorn Tornqvist told the APPEC conference on Monday that Brent’s fair value is $70 a barrel as supply outpaces demand.

The problem with oversupply is not the OPEC+ policy but the fact that the group doesn’t have control over the jump in non-OPEC+ supply, Tornqvist said.

END

Crude Tumbles As Biden’s Dept of Energy Makes Mockery of Private Data; Cushing Draws 9 Of Past 10 Weeks

Wednesday, Sep 11, 2024 – 10:54 AM

If ever in doubt whether the Biden admin will rig and manipulate “data” to suit its goals and policies, don’t be: moments ago the Biden Dept of Energy published its weekly EIA oil storage report, which was a shocking mirror image of everything the private API reported yesterday.

As a reminder, this is what API said happened to various energy stocks over the past week:

• Crude -2.8MM (9th weekly draw in the past 10 weeks), and well below estimates of a +1.0MM build
• Gasoline -0.5MM
• Distillates +0.2MM
• Cushing -2.6MM

The last one was especially notable as it represented the biggest weekly drain in Cushing stocks since August 18, 2023 and pushed oil in Cushing storage to the dreaded “tank bottoms.”

And that’s when Kamala’s/Biden’s department of goalseeking data stepped in, and moments ago reported what can only be described as a laughable mirror image of everything the API indicated yesterday. Here are the details:

• Crude +833K, Exp. +1.05MM
• Gasoline +2.31MM
• Distillates +2.308MM
• Cushing -1.704MM
• Production 13.3MMb/d, unch

That’s right: instead of 3 sets of draws, the EIA somehow found builds pretty much across the board, with Crude rising 833K, barely missing the estimate of 1.05MM (and a far cry from the 2.6MM draw per API) except for Cushing, which has emerged as the great source of all the liquidation magic we have observed in the past three months, and as shown below, Cushing has now drawn 9 out of the past 10 weeks!

One possible reason for the build is that in the past week, the Biden admin added just 279K to the SPR, the lowest weekly addition this year, and a huge swing from last week’s 1.8mm increase to the SPR,, which was the largest increase since June 2020.

The increase in stocks meant that after hitting a one  year low, total crude inventory (ex SPR) posted a small gain.

And even though the drop in Cushing was lower according to the EIA vs the API’s huge 2.8MM draw, 1-2 more weeks of this drain means that Cushing is still facing tank bottoms.

But there is still some time before we hit the bottom of Cushing: until then the CTAs and shorts are in control, and after staging a modest rebound, oil was slammed by over a buck to session lows, and just shy of the lowest level since 2021 (which in turn preceded a doubling in the price of oil in the next 3 months).

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 WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.1052 UP 0.0032

USA/ YEN 141,75 DOWN 0.692 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 1.3089 UP .0009

USA/CAN DOLLAR:  1.3582 DOWN .0029 (CDN DOLLAR UP 29 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED DOWNN 22.40 PTS OR 0.82%

 Hang Seng CLOSED DOWN 125,38 PTS OR 0.73%

AUSTRALIA CLOSED DOWN .0.27 %

 // EUROPEAN BOURSE:     ALL GREEN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  ALL GREEN

2/ CHINESE BOURSES / :Hang SENG CLOSED DOWN 125.38 PTS OR 0.73 %

/SHANGHAI CLOSED DOWN 22.40 PTS OR 0.82%

AUSTRALIA BOURSE CLOSED DOWN 0.27%

(Nikkei (Japan) CLOSED DOWN 539,39 PTS OR 0.73%

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2521.50

silver:$28.80

USA dollar index early WEDNESDAY  morning: 101.36 DOWN 24 BASIS POINTS FROM  TUESIDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

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And now your closing  WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.712%  DOWN 6 in basis point(s) yield

JAPANESE BOND YIELD: +0.855% UP 4 AND 7/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.917 DOWN 7 in basis points yield

ITALIAN 10 YR BOND YIELD 3.450 DOWN 9 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.0955 DOWN 4 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR WEDNESDAY  

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

Euro/USA 1.1007 DOWN .0013 OR 13 basis points

USA/Japan: 141.46 DOWN 0.995 OR YEN IS UP 99 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE EXPLODES AGAIN TODAY

Great Britain 10 YR RATE 3.790 DOWN 12 BASIS POINTS //

Canadian dollar DOWN .00006 OR 6 BASIS pts  to 1.3616

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP AT 7.1184 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.1214)

TURKISH LIRA:  33.97 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.855

Your closing 10 yr US bond yield DOWN 9 in basis points from MONDAY at  3.615% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  3.937 DOWN 7 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.596 DOWN 6 BASIS PTS.

GOLD AT 11;00 AM 2507.90

SILVER AT 11;00: 28.30

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

London: CLOSED DOWN 12.04PTS OR 0,15%

German Dax :  CLOSED UP 64.35PTS OR 0.35%

Paris CAC CLOSED DOWN10.71 PTS OR 0.14%

Spain IBEX CLOSED UP 75.40 OR 0.67%

Italian MIB: CLOSED DOWN 38.67 OR 0.12

WTI Oil price  70.13 12EST/

Brent Oil:  73.40 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91.05 ROUBLE DOWN 0 AND  4/100      

GERMAN 10 YR BOND YIELD; +2.0955 DOWN 6 BASIS PTS.

UK 10 YR YIELD: 3.790 DOWN 8 BASIS POINTS

CDN 10 YEAR RATE: 2.905 DOWN 5 BASIS PTS.

CDN 5 YEAR RATE: 2.750 DOWN 4

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1022 UP 0.0002   OR 2 BASIS POINTS

British Pound: 1.3043 DOWN 0.0035 OR 35 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.760 DOWN 6 BASIS PTS//

JAPAN 10 YR YIELD: 0.865

USA dollar vs Japanese Yen: 142.27 DOWN .173 YEN UP 17 BASIS PTS//

USA dollar vs Canadian dollar: 1.3572 UP 0.0039/CDN dollar UP 39 BASIS PTS

West Texas intermediate oil: 67.16

Brent OIL:  70.45

USA 10 yr bond yield UP 1 BASIS pts to 3.651

USA 30 yr bond yield UP 0 BASIS PTS to 3.962%

USA 2 YR BOND: UP 3 PTS AT  3.639

CDN 10 YR RATE 2.933 DOWN 3BASIS PTS

CDN 5 YEAR RATE: 2.775 UP 2

USA dollar index: 101.66 UP 6 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 3.99 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  91.57 DOWN 0 AND  57 //100 roubles

GOLD  2,510.60 3:30 PM

SILVER: 28.58 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 124.75 PTS OR 0.31%

NASDAQ UP 408.17PTS OR 2.17%

VOLATILITY INDEX: 17,67 DOWN 1.41 PTS OR 7.37%

GLD: $232.25DOWN 0.37OR 0.16%

SLV/ $26.12 UP .18 OR 0.67%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Jensen Saves The Day: Nvidia CEO Sparks Market Meltup, Sends NVDA $250 Billion Higher

by Tyler Durden

Wednesday, Sep 11, 2024 – 04:09 PM

After yesterday’s lethargic sideways move, where traders sat on the sidelines waiting for the outcome of the triple main event of the past 24 hours, the presidential debate result, the CPI report and NVDA’s presentation, the Wednesday market did not disappoint and there were both emotional lows and more recently highs.

The action over the past 24 hours can be roughly divided into three sections:

• i) the debate and its aftermath;
• ii) the CPI print and its immediate aftermath, and
• iii) comments from NVDA CEO Jensen Huang.

And visually

Starting at the top, the debate – which was really a 1-on-3 with Trump taking on not just Kamala but the ABC moderators as well, was seen as won by her, if only by online betting services such as predictit…

… and polymarket…

… where election odds shifting in her favor.

And yet, outside this easily manipulated echo chamber which can be rigged by a handful of wealthy accounts, who then use their money to set the media narrative and discussion in social networks, the reality is that a Kamala victory was far from a given, especially after reading the following poll from Reuters:

Kamala Harris was widely seen as dominating Tuesday’s presidential debate against Republican former president Donald Trump, but a group of undecided voters remained unconvinced that the Democratic vice president was the better candidate.

Reuters interviewed 10 people who were still unsure how they were going to vote in the Nov. 5 election before they watched the debate. Six said afterward they would now either vote for Trump or were leaning toward backing him. Three said they would now back Harris and one was still unsure how he would vote.

Alas, this was too nuanced, and certainly did not get any airplay from the liberal mainstream media, and the market moved accordingly, with Goldman’s Democratic Policy Pair (GSP24DEM) surged +270bps to a new 2024 high, while the Republican Policy Pair (GSP24REP) tumbled -145bps (In HC specific, consistent with higher Kamala odds, seeing outperformance Medicaid, Exchanges, Hospital vs. Underperformance in Medicare).

Other assets which were hammered as the market (and its 3 second attention span) saw a looming Kamala victory, were the dollar, yields and crypto, at least initially: by the end of the day, most of the moves would be unwound.

Which brings us to point 2: today’s CPI report, which as discussed earlier, came in just hotter than expected on the MoM Core CPI print, which printed 0.3% vs exp. of 0.2%…

… where the biggest surprise was the unexpected heating up in shelter inflation, which ended its nearly 2-year stretch of declines…

… rising for the first time since March 2023.

This begs the question: if housing inflation is already reversing higher with Fed rates at the highest they have been since the Volcker Fed, what happens when Powell cuts more than 4 times this year (or more than 100bps), as the market expects, and another 6 times one year from today (bringing total cuts to 250bps).

Of course, it wouldn’t be the first time the market has expected huge rate cuts at the end of the calendar year… or the second time. In fact, this will be the third year in a row when stocks – having gone through a recession scare late in the year – price in multiple rate cuts. Only this time, the Fed appears willing to oblige. Still, as the following chart from DB shows, at the start of the year, market expectations were that the Fed would have already cut 100 bps by now.

One thing is clear: if we do get an inflation spike after the Fed cuts, the “stag” and the “flation” that Powell has been looking for so ardently will come looking for him, because if the Fed is indeed cutting rates just as inflation takes off again, well… everyone has seen this chart by now…

… and so have the algos, which is why stocks dumped immediately after opening, with the S&P sliding as low as 5400, and just shy of the key 100DMA support level, which is at 5391, below which CTAs would be active sellers of $6bn S&P futs, and supply would double below the key 5343 level which is medium term momentum threshold.

That’s why a some Hail Mary was urgenly needed, and it emerged shortly after Jensen Huang start speaking at 10:20am ET at the Goldman tech conference in San Fran, when the Nvidia CEO said that “the demand [for chips] is so great, and everyone wants to be first and everyone wants to be most.” that “we probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.”

That was all the market needed to hear, to unleash a buying spree first in NVDA, whose stock soared by $10 to $117 or about $250billion in market cap, making a mockery of other pennystocks (speaking of which Gamestop plunged 13% after Roaring Kitty failed to spark another short squeeze after yet another dismal earnings report), while the S&P soared alongside it, not only erasing all losses but actually closing more than 1% higher…

So powerful was today faceripper of a rally sparked by Huang that not even several attempts by the 0DTE crew to spark a delta flow selloff had any chance.

So powerful was today’s risk rally that even bonds, which are now convinced a recession is imminent and ignored one of the strongest 10Y auctions on record, finally sold off…

… and even oil, where sentiment is most negative on record, managed to find a bid.

Of course, with cross-asset confusion raging, with bonds and oil certain a hard-landing is inevitable, while stocks – and AI in particular – confident there will be no landing, it means that there is no local equilibrium and tomorrow we will go through this rollercoaster all over again.

MORNING TRADING/CPI

Hotter than expected:

Core Inflation Comes In Hotter Than Expected, Collapsing Odds Of 50bps Rate Cut

Wednesday, Sep 11, 2024 – 08:47 AM

Following last month’s modest miss in CPI which sparked speculation about a 50bps cut, which was then boosted by the jobs report miss and the huge downward revision, moments ago the BLS reported that – as only a handful of Wall Street strategists warned – CPI actually came in hotter than expected at the core level, rising 0.3% MoM vs expectations of a 0.2% print, with all remaining metrics coming in line, to wit:

• CPI 0.2% MoM (or 0.187% unrounded), Exp. 0.2% – in line
• CPI Core 0.3% MoM (or 0.281% unrounded), Exp. 0.2% – hotter than expected
• CPI 2.5% YoY, Exp. 2.5% – in line
• CPI Core 3.2% YoY, Exp. 3.2% – in line

And visually, here is the headline print, where the annual CPI increase dropped to just 2.5% from 2.9%, the lowest since February 2021…

… and the core….

…. as goods deflation is stalling and may even print positive in the coming months, while core service inflation remains the biggest driver.

That was s the 51st straight month of MoM increases in Core CPI, and a new record high.

Under the hood, used car prices fell 1.0%, moderating from last month’s 2.3% drop, while airline fares jumped 3.9%, a big reversal to last month’s bizarre -1.2% drop and a reversal to drops in each of the past 5 months. Car insurance costs jumped another 0.6%, after rising 1.2%; furniture prices dropped 0.3% reversing last month’s 0.3% rise.

Here is a more detailed breakdown:

Food:

The food index increased 0.1 percent in August, after rising 0.2 percent in each of the previous 2 months. The index for food at home was unchanged in August. Two of the six major grocery store food group indexes increased over the month while the other four indexes declined in August.

• The index for meats, poultry, fish, and eggs rose 0.8 percent in August as the index for eggs increased 4.8 percent.
• The dairy and related products index increased 0.5 percent over the month.
• The nonalcoholic beverages index fell 0.7 percent in August, after rising 0.5 percent in July.
• The index for other food at home decreased 0.3 percent over the month, the index for fruits and vegetables declined 0.2 percent, and the index for cereals and bakery products fell 0.1 percent in August
• The food away from home index rose 0.3 percent in August, after rising 0.2 percent in July.
• The index for limited service meals rose 0.3 percent and the index for full service meals increased 0.2 percent over the month

Energy

The energy index decreased 0.8 percent in August, after being unchanged in July.

• The gasoline index fell 0.6 percent over the month.
• The electricity index decreased 0.7 percent over the month and the natural gas index fell 1.9 percent in August.

All items ex good and energy

• The shelter index increased 0.5 percent in August:
  • The index for owners’ equivalent rent rose 0.5 percent over the month and the index for rent increased 0.4 percent.
  • The lodging away from home index rose 1.8 percent in August, after rising 0.2 percent in July.
• The airline fares index rose 3.9 percent in August, after declining in each of the previous 5 months.
• The index for motor vehicle insurance increased 0.6 percent over the month.
• The indexes for education and apparel also increased in August.
• The index for used cars and trucks fell 1.0 percent in August, following a 2.3-percent decrease in July.
• The index for new vehicles was unchanged over the month.
• Over the month, the household furnishings and operations index fell 0.3 percent.
• The medical care index  fell 0.1 percent in August, after falling 0.2 percent in July.
• The communication index decreased 0.1 percent in August, as did the recreation index and the personal care index.

Visually:

Developing

AFTERNOON TRADING///

II USA DATA

end

III  USA ECONOMIC COMMENTARIES

This is interesting: one in 5 borrowers are avoiding making payments

(zerohedge)

One In Five Student Loan Borrowers Avoid Making Payments: Report

Tuesday, Sep 10, 2024 – 05:15 PM

Authored by Bill Pan via The Epoch Times (emphasis ours),

One in five borrowers with outstanding student loans have made no payments, as many hold out for potential debt relief, a recent survey reveals.

The survey, published on Sept. 5 by Intuit Credit Karma, found that 20 percent of student loan borrowers said they have yet to make any payments on their loans. This figure rises to 27 percent among borrowers with a household income of less than $50,000.

More than half (55 percent) of respondents reported being unable to afford their student loan payments, while nearly half (49 percent) said they feel “financially unstable.”

The survey underscores the financial strain faced by borrowers, with affordability challenges largely attributed to the high cost of living (69 percent). Many loan holders said they are forced to make difficult trade-offs, with 38 percent saying they are falling behind on other bills—such as auto loans, mortgages, or credit card payments—to meet their student loan obligations. Additionally, 39 percent of borrowers said they are prioritizing paying off higher-interest debt over their student loans.

The report also highlights the difficult financial situations of younger borrowers. Notably, 44 percent of Gen Z and 41 percent of millennial borrowers said they have depleted their savings to manage student loan payments. Overall, about one-third (34 percent) of all borrowers surveyed reported having $0 in savings.

Borrowers who haven’t been making payments should be on high alert, as their credit scores could be impacted once the federal government’s “on-ramp” grace period ends, the survey warns.

During this one-year transition period, payments are due and interest accrues, but missed payments won’t be considered delinquent, placed in default, or reported as such to creditors or debt collectors.

When the grace period ends on Sept. 30, borrowers will again face the usual consequences of missed payments, including default. Defaulting on a loan can damage one’s credit score and may result in the federal government garnishing wages, seizing tax returns, and intercepting Social Security benefits.

The survey suggests that some borrowers appear to have taken “irresponsible advantage” of the soon-to-expire relief. About one in seven (15 percent) of those who have not been making consistent on-time payments admitted they were intentionally avoiding payments, knowing their credit scores would not be impacted during the grace period.

“With Biden’s SAVE plan in limbo, many borrowers face uncertainty about whether they will benefit from lower monthly payments and a clear path to loan forgiveness,” said Courtney Alev, a consumer financial advocate at Intuit Credit Karma, referencing the Biden administration’s income-driven repayment plan currently blocked by court orders.

“While it’s understandable to hope for potential loan forgiveness, borrowers shouldn’t rely solely on it,” Alev said in the survey release. “Those struggling to make payments should proactively reach out to their lenders to explore available options.”

The SAVE plan was designed to reduce monthly payments for borrowers and accelerate the path to having their balance discharged. Approximately 7.5 million borrowers have already signed up for the SAVE plan, and 150,000 have had their debt erased.

Two groups of Republican state attorneys general challenged the plan in two federal district courts. They argued that the Biden administration lacks the legal authority to implement the plan and that it contradicts the U.S. Supreme Court’s decision last summer that struck down an earlier attempt at large-scale student loan cancellation.

On Aug. 28, the Supreme Court denied the Biden administration’s emergency request to temporarily reinstate the SAVE plan. This is not a final ruling, and either or both cases could return to the high court once the federal appeals courts rule on the merits of the dispute.

The survey was conducted online within the United States by Qualtrics on behalf of Intuit Credit Karma between Aug. 3 and Aug. 19 among 1,995 adults ages 18 and older with outstanding student loan debt.

end

Another killing of an American by an illegal alien MS 13 gang member. This killer then enrolled in Maryland High school.

(zerohedge)

“It’s A Crazy Story”: Illegal Alien MS-13 Gangster Kills Girl, Then Enrolls In Maryland High School

Tuesday, Sep 10, 2024 – 08:10 PM

Investigative journalist Chris Papst of Fox45 News’ Project Baltimore revealed that a Maryland high school unknowingly allowed an illegal alien MS-13 gang member, at the center of a murder investigation, to enroll after local, state, and federal authorities failed to inform the school’s administration of the student’s criminal background. Tragic events like this should never be happening in the first world. Yet, the news cycle is becoming inundated with these types of horrific events because of disastrous open southern border policies pushed by the Biden-Harris team. 

The story begins with illegal alien and MS-13 gang member Walter Martinez, who was 16 years old and murdered Kayla Hamilton in 2022. Months before the murder, Martinez walked across the open southern border and was apprehended by the US Border Patrol. He was then sent to a sponsor in Maryland. 

Fox’s Papst laid out a timeline of Martinez’s illegal entry into America to the murder of an American citizen to his time at a Maryland public school. 

• In March 2022, Martinez entered the United States illegally through Texas as an unaccompanied minor. He was apprehended by Border Patrol and sent to live with a sponsor in Maryland.
• By July 2022, Martinez moved to a mobile home in Aberdeen where he later killed Kayla.
• By the fall of 2022, as police waited for the DNA results, Martinez had been placed in foster care with Child and Protective Services. He then enrolled at Edgewood High School.
• In January 2023, the DNA results came back, and Martinez was arrested.
• In August 2024, he pleaded guilty to murder and was sentenced to 70 years in jail.

The victim’s mother, Tammy Nobles, told Papst, “When I start from the very beginning and get to the very end, they’re like, ‘wow, that is a really crazy story,” adding, “And I say, ‘it is a crazy story. But it’s a true story.’ It’s the worst pain that a parent can ever get.”

Nobles explained the illegal alien “wrapped a cord around my daughter’s neck and her mouth, then just left her on the floor, like trash.” 

An MS-13 gang member attended a Maryland high school as murder suspect, but the school says it was not told about his past. According to charging documents, Walter Martinez, in 2022, was quickly identified as a primary suspect in the murder of Kayla Hamilton. As a minor and MS-13 gang member in the country illegally, several organizations were involved in the investigation: Aberdeen Police Department, Maryland State Police, FBI, Immigrations and Customs Enforcement, Child and Protective Services. Yet, when Martinez was enrolled in Edgewood High School, no one involved told the school that a suspected murderer was walking the hallways with 1,400 other students

Martinez, a native of Salvador, was the top suspect and was detained by police shortly after Kayla Hamilton’s death. There was surveillance video and an audio recording placing him at the scene of the crime. Martinez was read his Miranda Rights, and police sent out his DNA for testing. However, testing took six months, and while that was underway, he was enrolled into a Maryland public school, surrounded by hundreds of kids.

“It makes me angry,” Nobles said, emphasizing, “You’re sitting there putting this monster into high school with other people’s children, and you’re putting children at risk. Look what he did to Kayla.”

Papst pointed out, “Think about this for a minute. After Kayla was murdered, Martinez was quickly identified as a primary suspect, according to charging documents. As a minor and MS-13 gang member in the country illegally, several organizations were involved in the investigation: Aberdeen Police Department, Maryland State Police, FBI, Immigrations and Customs Enforcement, and Child and Protective Services.” 

Yet none of the local, state, and federal agencies mentioned above informed the school system; nevertheless, the parents of the school about the illegal alien’s criminal status.

The story is crazy and absolutely disheartening, and it was made possible by the Biden-Harris team, who allowed this to happen.

Here’s Papst’s full report: 

The nation is sleepwalking into disaster. 

END

That should be correct but will it show up with Trump winning the election

(zerohedge)

Shocking New Survey Exposes Reality That Only 23% Of Independents Think The Economy Is On The Right Track

Wednesday, Sep 11, 2024 – 06:30 AM

Authored by Michael Snyder via TheMostImportantNews.com,

Hundreds of millions of dollars are being spent to persuade the American people to vote for either Kamala Harris or Donald Trump. 

But ultimately two things are probably going to matter more than anything else. 

Millions of Americans will be basing their votes on how they currently feel about the economy and who they trust to handle it moving forward. 

This will be particularly true for independents, and they actually make up the largest block of voters at this point.  About 30 percent of the population considers themselves to be Democrats, about 30 percent of the population considers themselves to be Republicans, and almost everyone else considers themselves to be independents. 

In the end, how independents vote will be of paramount importance, and a brand new survey has discovered that only 23 percent of independents believe that the U.S. economy is on the right track…

A majority of voters think the U.S. economy is on the wrong track, according to a new poll, as the Federal Reserve appears likely to lower interest rates this month after months of holding them steady.

The Harvard CAPS-Harris poll showed 63 percent of respondents said the economy is on the wrong track, while 30 percent said it’s on the right track and 8 percent said they’re not sure.

Opinions were split along partisan lines, with 54 percent of Democrats saying the economy is going in the right direction but only 9 percent of Republicans saying the same. The poll found 23 percent of independents said it’s on the right track.

Needless to say, this is horrible news for Kamala Harris.

She desperately needs to convince independent voters in the swing states that the policies of the Biden administration have the economy moving in the right direction, and that is not an easy sell.

Economic conditions are very tough all over the country right now, and everyone can see it.

In a recent editorial, small business owner Bruce LeVell detailed what things are like in Georgia at this moment…

Inflation is crushing small businesses like mine. Between rising costs for supplies, utilities and gas, it’s becoming harder to keep up. And I’m not alone. Families across Georgia are feeling it, too. From the grocery store to the gas pump, prices are out of control, making it harder for working folks to make ends meet.

We’ve all watched as our favorite Georgia products, like peaches, have skyrocketed in price. Peaches were up 25% last year. Chick-fil-A is up 21%. Even Bulldogs game tickets have jumped 45%. This inflation has cost Georgia families more than $27,000 since 2021, and that’s a hit most of us just can’t afford. The reality is clear: the Biden-Harris administration’s reckless spending and misguided policies are to blame.

He is right.

The cost of living has been going up much faster than paychecks have, and that is one of the biggest reasons why 37 percent of Americans are struggling to pay for their most basic expenses.

Millions of households are just barely scraping by, and as a result many are using credit cards to stay afloat…

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.

This is a really bad time to be racking up credit card debt.

But a lot of people feel like they have no choice.

Meanwhile, the personal savings rate has fallen to the lowest level since the financial crisis of 2008…

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…

U.S. consumers have not been in such bad shape since the Great Recession, and now there are signs that the overall economy is rapidly slowing down all around us.

For example, a trucking company in Illinois that had about 480 drivers just suddenly ceased operations…

An Illinois-based trucking and logistics company, which contracted with the U.S. Postal Service to haul mail has notified over 650 employees, including more than 480 drivers, that the carrier is ceasing operations, according to sources familiar with the closure.

Former truck drivers for Midwest Transport Inc. (MTI), headquartered in Robinson, Illinois, told FreightWaves that they received telephone calls from their regional managers late Thursday notifying them the company was winding down operations.

And week after week, large banks continue to shut down even more branches…

Major banks have shuttered more than 40 locations in just two weeks as the local branch bloodbath continues.

Chase, Wells Fargo and Santander were among the banks who closed locations between August 4 and August 18.

Bank of America led they way, notifying the regulator that they would be removing 12 of their local branches from use.

Last, but certainly not least, I did not want to leave the stunning bankruptcy of Big Lots out of this article…

Another huge nationwide retailer filed for bankruptcy this morning – raising questions over the future of its 1,400 stores.

The Chapter 11 filing from discount home goods retailer Big Lots is the latest from big American retailers and restaurant chains, with the highest profile until now being Red Lobster.

A total of 21 have filed for bankruptcy in the first half of this year – the most since the pandemic wrecked havoc with businesses in 2020, S&P said in a July report.

Normally, troubled retailers will do whatever is necessary to hang on through the lucrative holiday shopping season before declaring bankruptcy.

But apparently Big Lots was so far gone that they were not able to do that.

Every piece of bad economic news that we get brings Kamala Harris even closer to defeat and Donald Trump even closer to victory.

In my entire lifetime, the economy has played a major role in determining the outcome of almost every single presidential election.

And it won’t be any different this time around.

But no matter what the outcome is, I fully anticipate that there will be widespread chaos afterwards.

I have never seen so much political animosity in this country, and there will be tens of millions of people that will be absolutely furious once the results of the election are revealed.

*  *  *

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

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

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

SWAMP STORIES

This is for sure….

Democrats Aren’t Creating Disorder; They’re Preserving It…

Wednesday, Sep 11, 2024 – 07:20 AM

Authored by Jonathan Turley,

In 1968, in the midst of Democratic convention riots, Chicago Mayor Richard Daley famously declared, “The policeman isn’t there to create disorder; the policeman is there to preserve disorder.”

Democratic state election officials appear to have adopted a similar approach to the upcoming election. In states such as North Carolina and Michigan, Democrats are fighting to keep the name of Robert Kennedy, Jr. on the ballot even though he withdrew from the race and endorsed former president Donald Trump. These are key states where the misplacement of even 1 percent of votes could turn the outcome of not just the state but the entire election.

In Michigan, Democratic Secretary of State Jocelyn Benson recently fought to keep third-party candidate Cornel West off the ballot. Unlike Kennedy, who is viewed as likely to drain votes from Trump, West is viewed as pulling votes from Vice President Kamala Harris, particularly among those opposed to her policies toward Israel.

A court ruled against Benson and said that she was adopting an artificially narrow interpretation to keep Kennedy on the ballot.

In North Carolina, where Trump and Harris are in a statistical tie, Democrats also refused to remove Kennedy’s name. An appellate court this week ordered them to do so to avoid the obvious confusion for voters.

Recently, the same Democratic officials sought to block West from the ballot due to his campaign causing “partisan mischief.”

These efforts are being pursued in other states such as Wisconsin (another key state), where Democrats on the election board blocked a Republican effort to remove Kennedy’s name.

In Michigan and North Carolina, officials have the distinction of fighting to keep a popular candidate from the ballot while fighting to retain a non-existent candidate.

It is all in the name of protecting democracy from itself.

Previously, Democrats in Florida and North Carolina fought to block other Democrats from appearing on primary ballots. Candidates like Rep. Dean Phillips (D-Minn.), author Marianne Williamson and commentator Cenk Uygur faced concerted campaigns by election officials and advocates to prevent voters from having a choice in the primary.

After preventing a meaningful primary and securing the nomination for President Biden, Democrats later handed the nomination to Harris without a single vote from a single primary voter.

Democratic activists are now calling it an election by “acclamation,” like a political version of the immaculate conception in which a candidate is simply conceived by the party elite. It is enough to make the Chinese Central Committee blush.

Harris was then walled off from the media to avoid any unscripted interactions, including by putting earbuds in her ears in what many called a clearly fake call to avoid press questions.

At the same time, Democratic supporters are now arguing that it is not necessary for Harris to offer detailed plans or agree to interviews in a campaign that is selling “joy” and “good vibes” like political valium.

Others appear to believe that saving democracy means holding Harris to a different, more deferential standard. New York Times editorial board member Mara Gay appeared on MSNBC’s “Morning Joe” to defend treating Harris differently: “I think the challenge, not just for journalists, but really for the country, is that not only is Donald Trump a threat, but, you know, it lowers the bar. So, I don’t think it’s unacceptable,” she said.

Somewhere in that double negative, journalism perished. In my new book, I discuss how journalists are now sometimes taught to dispense with both neutrality and objectivity in favor of framing the news for viewers and readers.

You see, it is all about saving democracy. Gay explained: “The context is difficult because of the extremism of the Republican Party, because of how extreme Donald Trump is, it’s hard to hold both candidates accountable equally, because one is committed to democracy and is functioning as a normal candidate from a normal American party, and the other is not.”

This was echoed by “Morning Joe” host Joe Scarborough, who said that life as we know it would end unless Harris is elected, telling viewers that the “autocrat” Trump would throw opponents in jail and take media outlets off the air: “So, yeah, the threats to democracy are real,” he said. “But [so are] the threats to the free market, the threats to free enterprise, to our economy.”

Other guests amplified that dire message further and criticized people for covering how Harris is changing her positions and refusing to offer details on policies. It appears that this election is simply too important for substantive debate. After all, Harris has said that 2024 “genuinely could be” the last democratic election in America’s history. The last thing we need is a substantive election at this precarious time.

The omitted details include Harris’s support for policies that many of us view as a direct threat to our constitutional system, including censorship and court packing.

Both candidates have much to address that they would prefer to ignore. The media is correct to press Trump on many of these issues. Yet, the success of any democratic system is dependent on three key elements: participation, information and choice. Getting the vote out takes on a menacing meaning if voters are being protected from the distractions of facts. Winning at any cost is no virtue in a democracy, even when claiming to be a defender of democracy.

*  *  *

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

KING REPORT

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

The King Report September 11, 2024 Issue 7324

Independent View of the News

Oil, gasoline, and industrial commodities tumbled on Tuesday.  The palpable recession angst induced selling in energy companies and banks.  The yen/$ hit 142.20.  Gold rallied sharply even though the Dollar Index rallied modestly.  The usual suspects ran to Fangs.  Investors bought utilities and bonds.   Barron’s (unfortunate headline/story before NYSE opening): Bank Stocks Are Rising.  Capital Increases Could Be Lower Than Thought… The largest U.S. banks will face a 9% hike (19% earlier) in capital requirements… JP Morgan stock rose 1.3%, while Bank of America shares gained 1.7%, and Wells Fargo stock jumped 2.8% in premarket trading…  https://x.com/barronsonline/status/1833485058235052401   JPMorgan Shares Extend Decline to 6.8%, Most Since June 2020 – BBG 11:24 ET   JPMorgan Tempers Earnings Optimism, Leading Bank Stocks Down – BBG 12:55 ET President Pinto said analysts are being too optimistic in projecting next year’s expenses and net interest income… The current NII estimate of $8.5 billion is “not very reasonable”… The figure will lower…   Goldman Sachs Faces $400M Loss Due to Lax Credit Card Underwriting as It Seeks to Exit Consumer Lending, Including Sale of General Motors Card Business – WSJ   Jamie Dimon says ‘the worst outcome is stagflation,’ a scenario he’s not taking off the table https://t.co/qZI88VeFMv   UPS is laying off more employees amid effort to boost profitability Sandy Springs-based UPS is laying off more of its employees, after earlier this year announcing it was cutting 12,000 jobs in its management ranks… https://www.ajc.com/news/business/ups-lays-off-more-employees-as-company-seeks-to-boost-profitability/BNXKTYPI6FHULJ46EIFRMBY5ZM/   EU court orders Apple to pay $14.4 billion in back taxes to Ireland https://t.co/EKbkPem8az   ESUs opened moderately higher on Monday night but steadily declined until they hit a low of 5466.50 three minutes after the 2:00 ET Chinese close.  ESUs traded sideways until they jumped higher 5 minutes after the 3 ET European opening.  ESUs hit a peak of 5487.00 at 4:02 ET.  The dump pushed ESUs to a daily low of 5462.75 at 5:15 ET.  ESUs then rallied robustly, hitting a daily high of 5501.25 at the 9:30 ET NYSE opening.   ESUs then sank on the above negative news.  After hitting 5470.25, ESUs rallied on conditioned buying.  ESUs surged to 5492.00 at the 11:30 ET European close.  Then, ESUs tumbled to a daily low of 5448.25 at 12:01 ET.  A Noon Balloon turned into the afternoon rally and took ESUs to 5498.00 at 14:31 ET.  Trading then went inert until the late manipulation began at 15:20 ET.  It ended quickly with a modest rally.  ESUs then got pushed to a new daily high of 5506.00 at 15:59 ET.  ESUs then fell to 5499.75 at the NYSE close.   Positive aspects of previous session Another US rally after a morning decline on negative news Bonds rallied smartly – but on recession angst. Fangs rallied sharply on safe haven buying.   Negative aspects of previous session Big banks got hammered; the DJIA declined smartly early; the DJTA declined modestly. The yen/$ hit 142.20.   Ambiguous aspects of previous session Oil and gasoline tumbled on recession fear – is this good or bad?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5478.38 Previous session S&P 500 Index High/Low: 5497.91; 5441.72   Embarrassing Copy-Paste Plagues Harris’s Launch of Policy Platform Shortly after Kamala Harris released her policy agenda on Sunday evening, users on X spotted something in the metadata: Much of the language appears to have been lifted from Joe Biden’s campaign website.     On Sunday night, X user Corinne Green pointed out that the issues section of Harris’s website contained metadata with language urging voters to reelect Joe Biden. This language was visible when links to the campaign site were shared, and in the website’s description on Google searches…     That would be an embarrassing miscue from the Harris campaign, which partly came into being because of a perception that a refresh was needed to garner enthusiasm in the Democratic Party… https://www.yahoo.com/news/embarrassing-copy-paste-plagues-harris-152942823.html   The New Republic (Dem friendly): The Harris campaign is only now, belatedly, realizing that this is a problem. On Sunday, they finally added an “Issues” section to her website. It includes a slew of policies that the campaign has previously outlined, as well as sections on reproductive and civil rights. Unfortunately for Harris, its release was undermined by a simple but telling error: The page’s source code revealed that parts of the platform were copied directly from Biden’s campaign page… https://newrepublic.com/article/185758/kamala-harris-policy-agenda-campaign-reset   Kamala’s plagiarizing of The Plagiarizer is even more embarrassing and ironic when you consider her campaign slogan is: “A Way Forward.”   Fox’s @greggutfeld: If the New Republic is reporting this, coupled with CNNs devastating piece on Harris’s ACLU questionnaire – starting to think another change is afoot.  Should have had a primary…   @susancrabtree: This news about Secret Service Assistant Director Mike Plati being pressed into retirement by Acting USSS Dir. Ron Rowe isn’t sitting well with many rank-and-file special agents who tell me he is very well-respected.  These agents are angry that Plati might be being made to be the “fall guy” for the assassination attempt against Trump when it was really his bosses, including former Director Cheatle and others in the top brass, that made the decisions to deny the repeated requests for more security assets for Trump for rallies and at Mar-a-Lago…     One source in the Secret Service community tells me the top of the food chain for allocating security assets for Trump + other proctectees was former USSS Dir. Cheatle, Acting Dir. Ron Rowe and Assistant Dir. Vince Tutoni.   @VigilantFox: Trump faces off against TWO opponents: Kamala Harris and the moderator, David Muir.  Reports show that ABC’s David Muir clearly favors Kamala Harris, giving her 100% POSITIVE coverage while hitting Trump with 93% NEGATIVE press…   Team Obama-Harris asked ABC to provide a smaller podium for Kamala at the debate because Trump is about a foot taller than Harris.  They want to avoid the disconcerting optics of when Harris appeared to be much smaller than Walz in their joint CNN interview.  A Trump staffer said Harris’ podium “looks like the kids table” at Thanksgiving.   @BobEUnlimited: Maybe not this month, but not a good sign for later in the year… (Used vehicle prices have jumped higher) https://x.com/BobEUnlimited/status/1833658621919412458   Today – The August CPI Report will dictate early trading.  If CPI is modestly lower than expected, any rally should be short-lived; a 25bps rate cut is already baked into the markets.  A worse than expected CPI should produce a more dramatic effect.  The Harris-Trump debate, barring a disastrous performance, should have little effect on the markets.   Expected Economic Data: Aug CPI 0.2% m/m & 2.5% y/y, Core 0.2% m/m & 3.2% y/y   NQUs are -81.00; ESUs are -19.50; and USUs are +1/32 at 22:00 ET.  Did Aug CPI leak? S&P Index 50-day MA: 5506; 100-day MA: 5388; 150-day MA: 5298; 200-day MA: 5157 DJIA 50-day MA: 40,266; 100-day MA: 39,568; 150-day MA: 39,327; 200-day MA: 38,797 (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 5606.12 triggers a buy signal Hourly: Trender and MACD are positive – a close below 5432.35 triggers a sell signal   Debate Highlights Harris nervously dodged the question on if the economy was better off four years ago.      ABC’s Muir: “Do you believe that Americans are better off than they were four years ago.” Harris: “I was raised as a middle-class kid…”      Harris said Trump has no economic plan; Trump said Harris has no plan except for four simple items that she got from Biden.      Trump pounded Harris on immigration every chance he could do so.       An ABC moderator quickly injected abortion into the debate.  Trump said it is now a state issue and Dems want abortion up to birth.  Harris said Trump is trying to tell a woman what to do with their body.  Harris refused to answer if she would allow abortion in the 7th, 8th or 9th month.       Harris kept trying to tie Trump to Project 2205.  Trump calling her a liar over it.       Trump rebuked Harris when she lied about him opposing IVF.      Harris fell into the trap of saying people leave Trump rallies.  Trump responded that Harris must pay and bus people to her rallies.       On immigration, Harris blamed Trump for killing the border bill over politics.  Trump pointed out that the bill allowed unfettered immigration.  Trump brought up immigrants eating animals.       As expected, Harris called Trump a convicted criminal.  Trump blamed ‘them’ for weaponizing the Justice Department.      When asked about her flip-flopping on issues, Harris did her word salad routine, said she was raised as a middle-class kid and portrayed Trump as having a privileged upbringing.  She said her values has not changed.  Trump pulled Kamala’s “I’m talking now” on Harris.      Kamala brought up the Charlottesville hoax in 2024.      ABC asked Trump about losing 2020.  Trump said ‘our elections are bad; these people are allowing illegal immigrants to vote.’   Trump challenged ABC to allow him to present evidence of voter fraud.      Trump highlighted that Dems dumped Biden and Harris got no votes.      Harris claimed to be a big supporter of Israel.  Trump said she couldn’t even meet with Bibi, instead she went to a sorority party.  Trump added that she and Joe enriched Iran and enabled Hamas.  Harris said Trump is weak on foreign policy.  Trump retorted, ‘world leaders say you and Joe are “weak and grossly incompetent”.    In a huge mistake, Harris bragged that she met with Zelinsky days before Russia invaded.  Trump responded that Harris was so weak that Putin invaded days later.   ABC moderators relentlessly checked or challenged Trump but never did the same for Harris.   @EricLDaugh: What the F is wrong with David Muir? He’s supposed to be moderating this and instead he is reading off Harris HQ talking points and asking her.   GOP Rep. @mtgreenee: This is ABSOLUTELY disgraceful by ABC.  These moderators are members of the Harris campaign…   @ByronYork: The result of ABC’s decision: Normally tomorrow would see fact checks of what Harris and Trump said. Now there will be fact checks of what Harris and Trump said and fact checks of ABC’s fact checks.   @ClayTravis: ABC News is finished. I’ve never seen anything like this. Just allowing Kamala to lie with impunity and debating against Trump. It’s 3 on 1!   @TomBevanRCP: This debate is pretty bad. Trump is all over the place, Harris hasn’t answered any questions. The moderators have been awful.   Trump-Harris presidential debate live updates (Harris’ 2 surprise guests are nobodies!) Kamala Harris is bringing former Trump communications director Anthony Scaramucci and national security official Olivia Troye (to Pence) as her guests at tonight’s debate.  Anthony Scaramucci served in the Trump White House for only ten days, before being sacked by then-Trump Chief of Staff Gen. Kelly.    The Mooch was canned following a notorious profane tirade published by New Yorker reporter Ryan Lizza in which he insulted Trump White House staff Steve Bannon and Reince Priebus…      Conservatives outraged over ABC’s fawning coverage of Kamala Harris…      Harris campaign texts out another word salad — from hubby Doug…  “Kamala will lead with the belief that we’re strongest when we fight for what we believe in — not against what we fear,” the second gentleman said in a meandering text…     Police defense fund shares Harris’ prosecutorial record ahead of debate…     Gavin Newsom hopes Kamala Harris will ‘distance’ herself from Biden… https://nypost.com/2024/09/10/us-news/trump-harris-presidential-debate-live-updates-fact-checking-reactions-analysis/   @CollinRugg: NEW: Unearthed video shows reporter asking Kamala in the 1990s if she was Willie Brown’s daughter. Question: “Are you his daughter?” A startled Kamala: “No, I’m not.” Kamala was his girlfriend at the time. In exchange, Brown helped launch her career. https://x.com/CollinRugg/status/1833541038159630603     @YossiGestetner: Brown was 61 at the time; Harris 31.   @JackPosobiec: FLASHBACK: Here is ABC debate moderator Linsey Davis trying to link President Trump to the KKK.  https://x.com/JackPosobiec/status/1833186440622059764   Kamala Harris’ much older lover gave her a BMW and salary-boosting job as she climbed Democratic party ranks – The current vice president famously had a relationship with Democratic Party kingmaker Willie Brown in 1994 when she was 29 and he was 60, and when he was serving as speaker of the California Assembly… https://trib.al/9B0Z5WM   Melania Trump questions Trump assassination attempt story: ‘We need to uncover the truth’ “The attempt to end my husband’s life was a horrible, distressing experience,” she says on the video. “Now the silence around it feels heavy.” “I can’t help but wonder, why didn’t law enforcement officials arrest the shooter before the speech?” she said. “There is definitely more to this story, and we need to uncover the truth.”… (The silence around an attempt on Obama, Harris, or Clinton, would NOT be heavy.) https://www.cnbc.com/2024/09/10/melania-trump-questions-trump-assassination-attempt.html   Illegal migrant charged with child rapes on Martha’s Vineyard months after being freed from prison https://trib.al/ZSTYTLM   Police Audio, Report Confirm Haitian Goose-Hunting In Ohio: ‘They All Had Geese In Their Hands’ https://thefederalist.com/2024/09/10/exclusive-police-audio-report-confirm-haitian-goose-hunting-in-ohio-they-all-had-geese-in-their-hands/   @EndWokeness: Haiti average IQ: 67, USA average IQ: 100 Haiti illiteracy rate: 40%, USA illiteracy rate: 18% Haiti homicides: 60.9 per 100k, USA homicides: 6.2 per 100k Haiti annual income: $1,740 USD, USA annual income: $63,795 USD What could possibly go wrong with the importation of 5% of the entire Haitian population?   Ex-CIA Intel Operative @BryanDeanWright: Best part of debate night: Team Kamala scrambling because the Haitian voodoo animal sacrifice story is 100% real.   @CynicalPublius: I know the whole “Trump saving cats and ducks” things may seem trivial given the problems this country faces, but it’s pure political brilliance. I’ll you why.  But first, some important facts: 1. America is full of poorly-informed voters. 2. America is full of people who love their dogs and cats. 3. The Dems pounced on JD Vance’s “childless cat ladies” remark and used it to influence the votes of poorly-informed voters who love cats and/or dogs.     Now, the ubiquity of the Trump/cats/ducks memes have turned that around ten-fold.  Eating cats is far worse than talking bad about cat owners.  I’m not saying there is some enormous group of voters who will have their votes swayed by this, but there are SOME, and since Trump lost in 2020 by only about 40k votes in key states, every vote counts.  Vote Trump or your kitty will be on the menu.   @stillgray: The Republican Party of AZ has put up official billboards: “EAT LESS KITTENS. Vote Republican!”  https://x.com/stillgray/status/1833633634521387104   Trump posts meme of a cat holding a rifle in response to wild claims migrants are eating pets https://trib.al/WQJI02y   Kamala Harris told ACLU she’d fund trans surgeries for migrant inmates, decriminalize drugs and end ICE detainers during 2020 campaign https://trib.al/JYUkzOO   Biden left Taliban $7B in weapons, fingerprint scanners used to hunt US allies: damning report https://trib.al/GwQGNbf   Looting Hits Gucci Store in DC As Chaos Breaks Out in City Center & Georgetown Areas 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.”… https://www.zerohedge.com/markets/looting-hits-gucci-store-dc-chaos-breaks-out-city-center-georgetown-areas   President Biden shared he is headed to New York for a family celebration and will be “doing 9/11.” https://x.com/nypost/status/1833670828803739747

GREG HUNTER

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