GOLD PRICE CLOSED DOWN $1.25 TO $2581.25

SILVER PRICE UP $0,10 TO $30.77

Gold ACCESS CLOSED $2581,40

Silver ACCESS CLOSED: $30.75

Bitcoin morning price:$58,863 DOWN 1093 DOLLARS.

Bitcoin: afternoon price: $58,002 DOWN 1953DOLLARS

Platinum price closing  DOWN$14.05 TO $986,15

Palladium price; UP $4.55 TO $1075,55

END

*CANADIAN GOLD: $3508,80 UP 0 CDN dollars per oz( * NEW ALL TIME HIGH 3,508,98CDN DOLLARS PER OZ//SEPT 13 2024)

*BRITISH GOLD: 1,954,20 DOWN 11.10 Pounds per oz// *(NEW ALL TIMHIGH//CLOSING///1966,85BRITISH POUNDS/OZ) SEPT 13/2024

*EURO GOLD: 2,320.63DOWN 6.90 Euros per oz //* (ALL TIME CLOSING HIGH: 2.327.23UROS PER OZ//SEPT 13//.2024)

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EXCHANGE: COMEX

EXCHANGE: COMEX
CONTRACT: SEPTEMBER 2024 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,581.300000000 USD
INTENT DATE: 09/13/2024 DELIVERY DATE: 09/17/2024
FIRM ORG FIRM NAME ISSUED STOPPED

---

363 H WELLS FARGO SEC 2
624 H BOFA SECURITIES 6
737 C ADVANTAGE 13 5

---

TOTAL: 13 13
MONTH TO DATE: 3,969

JPMorgan stopped 0/13

GOLD: NUMBER OF NOTICES FILED FOR SEPT/2024. CONTRACT: 13 NOTICES FOR 1300 OZ  or  0.0404 TONNES

total notices so far: 3969 contracts for 396,900 Oz (12.345 tonnes)

FOR  SEPT:

SILVER NOTICES: 21 NOTICE(S) FILED FOR 105,000 OZ/

total number of notices filed so far this month : 4,857 for 24.285 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 $1,25 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 870.71 TONNES

INVENTORY RESTS AT 870,71 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.10 AT THE SLV

HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 958,000 OZ FROM THE SLV

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 468.606 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI ROSE BY A MEGA HUGE SIZED 4848 CONTRACTS TO 137,204 AND CONTINUING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS HUGE GAIN IN COMEX OI WAS ACCOMPLISHED WITH OUR  GAIN OF $0.93 IN SILVER PRICING AT THE COMEX ON FRIDAY’S TRADING. WE LOST ZERO NET LONGS WITH THE STRONG GAIN IN PRICE. WE HAD A MEGA HUMONGOUS GAIN OF 8423 TOTAL CONTRACTS ON OUR TWO EXCHANGES. WE HAD AGAIN A HUGE LIQUIDATION OF T.A.S. CONTRACTS DURING FRIDAY’S TRADING//. WE HAD CONSIDERABLE SHORT COVERING BY OUR SPECS WITH THE STRONG GAIN IN PRICE.  WE HAD A HUMONGOUS 3575 CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE ACCOMPANIED BY ANOTHER HUGE 1292 CONTRACT T.A.S ISSUANCE. IN ESSENCE WE GAINED A MEGA  HUMONGOUS 9289 CONTRACTS ON OUR TWO EXCHANGES WITH THE GAIN IN PRICE.

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

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON FRIDAY NIGHT: 1292 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS.IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS BUT TO NO AVAIL. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.93) AND WERE UNSUCCESSFUL IN KNOCKING ANY NET SILVER LONGS FROM THEIR PERCH AS WE HAD A HUMONGOUS GAIN OF 9289 TOTAL OI CONTRACTS ON OUR TWO EXCHANGES.

WE HAD A HUMONGOUS 3575 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 150,000 OZ QUEUE JUMP//NEW STANDING ADVANCES TO 24.610 MILLION OZ

//NEW STANDING FOR SILVER//SEPT ADVANCES TO 24.610 MILLION OZ

WE HAD:

/ HUGE SIZED COMEX OI GAIN //HUGE SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 1292 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL REMOVED 866 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 10 DAYS, total 10,787 contracts:   OR 53.935 MILLION OZ  (1078 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  53.935 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: 53.395 MILLION OZ//WILL BE A HUGE MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

RESULT: WE HAD A HUGE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF  4848 CONTRACTS WITH OUR GAIN IN PRICE OF SILVER PRICING AT THE COMEX//FRIDAY.,.  THE CME NOTIFIED US THAT WE HAD A HUGE EFP ISSUANCE  CONTRACTS:3575 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 60,000 OZ QUEUE JUMP

//NEW TOTAL STANDING FOR SEPT ADVANCES TO 24.610 MILLION OZ 

WE HAVE A MEGA HUMONGOUS GAIN OF 8423 OI CONTRACTS ON THE TWO EXCHANGES WITH THE GAIN IN PRICE…..THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 1292 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE THURSDAY COMEX TRADING//// MASSIVE ATTEMPTED SHORT COVERING FROM OUR SPEC SHORTS WITH THE HUGE GAIN IN PRICE THURSDAY/ AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE FRIDAY NIGHT   (713) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND FOR SURE TODAY., .

WE HAD 21 NOTICE(S) FILED TODAY FOR 105,000 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 VERY STRONG SIZED 8323 OI CONTRACTS  TO 544,348 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED A HUGE 2369 CONTRACTS//

WE HAD A HUGE SIZED INCREASE  IN COMEX OI (8,323 CONTRACTS) OCCURRED WITH OUR HUGE GAIN OF $30.45 IN PRICE /FRIDAY. 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 FRIDAYS STRONG 1700 OZ QUEUE JUMP

NEW STANDING ADVANCES TO  12.634 TONNES

/ ALL OF THIS HAPPENED WITH OUR  $30.45 GAIN N PRICE  WITH RESPECT TO FRIDAY’S TRADING. WE HAD A HUMONGOUS SIZED GAIN OF 14,724 OI CONTRACTS (45.79 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. WE SHOULD HAVE A FASCINATING TRADING DAY MONDAY WITH RESPECT TO THE T PLUS ONE BASIS OF CENTRAL BANK TENDERING FOR PHYSICAL THE FRBNY IS NOW LOOKING INTO AN ABYSS!!!

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUMONGOUS SIZED 9796  CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 546,722

IN ESSENCE WE HAVE A HUMONGOUS SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 14,724  CONTRACTS  WITH 8,323 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 6401 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 14,724 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A GOOD SIZED 1521 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A HUMONGOUS SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (6401  CONTRACTS) ACCOMPANYING THE HUGE SIZED INCREASE IN COMEX OI OF 8,323 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 14,724 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 1700 OZ QUEUE JUMP

//NEW STANDING ADVANCES TO: /SEPT 12.634 TONNES. 

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

  4)  HUMONGOUS SIZED COMEX OPEN INTEREST INCREASE 5)  HUMONGOUS ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///GOOD T.A.S.  ISSUANCE: 1521 T.A.S.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: 54,152 CONTRACTS OF 5,415,200OZ OR 168,43 TONNES IN 10TRADING DAY(S) AND THUS AVERAGING: 5415 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAY(S) IN  TONNES  168,43 TONNES

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

THUS EFP TRANSFERS REPRESENTS  168,43DIVIDED BY 3550 x 100% TONNES = 4,76% 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: 168.43 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 HUGE SIZED  4848 CONTRACTS OI  TO 137,204 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 3575 CONTRACTS

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

DEC 3575 and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 3575 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 4848 CONTRACTS AND ADD TO THE 3575 E.FP. ISSUED

WE OBTAIN A HUMONGOUS SIZED GAIN OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 9289 CONTRACTS

THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES  TOTALS 42.115 MILLION OZ OCCURRED WITH OUR $0.93 GAIN IN PRICE  

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

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

(Peter Schiff)

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

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

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

MONDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED //Hang Seng CLOSED UP 53,03 PTS OR 0.31% // Nikkei CLOSED %//Australia’s all ordinaries CLOSED UP 0.21%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0903 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0928 Oil UP TO 69.26 dollars per barrel for WTI and BRENT UP AT 72.16 Stocks in Europe OPENED MOSTLY ALL GREEN

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

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

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

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

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

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

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A VERY STRONG SIZED 8323 CONTRACTS TO 544,348 WITH OUR HUGE GAIN IN PRICE OF $30.45 WITH RESPECT TO FRIDAY’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’S RISE.THEY ARE TOTALLY TRAPPED.

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 FRIDAY’S HUGE GAIN IN PRICE WITH ZERO LONGS BEING CLIPPED (AS YOU WILL SEE BELOW) BUT WE DID HAVE MAJOR ATTEMPTED SHORT COVERING AT MUCH HIGHER PRICES. 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 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  HUMONGOUS SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A HUGE SIZED 6401 EFP CONTRACTS WERE ISSUED: :  OCT/DEC 29796& ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 6401 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 HUMONGOUS SIZED TOTAL OF 14,724 CONTRACTS IN THAT 6401 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A VERY STRONG GAIN OF 8323 COMEX  CONTRACTS..AND THIS VERY STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE GAIN IN PRICE OF $30.45/FRIDAY 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!

THESE RAIDS HAVE NOW BACKFIRED ON THE FRBNY.

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR FRIDAY NIGHT A FAIR SIZED 1521 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/

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   SEPT  (12.687  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. 12.6387TONNES.

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $30.45////AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS AS WE DID HAVE A MEGA HUMONGOUS 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 OF 45.79 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR SEPT (12.885 TONNES) ON FIRST DAY NOTICE FOLLOWED BY FRIDAY’S QUEUE JUMP OF A GOOD SIZED 1700 OZ

//NEW STANDING FOR SEPT ADVANCES TO: 12.687 TONNES.

NEW STANDING FOR SEPT: 12.634 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR  GAIN IN PRICE  TO THE TUNE OF $30.45

WE HAVE REMOVED 2369 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.

NET GAIN ON THE TWO EXCHANGES 14744 CONTRACTS OR 1,474,400 OZ (45.79

TONNES)

confirmed volume FRIDAY 197,989 contracts fair

//speculators have left the gold arena

END

SEPT 16    SEPTEMBER  GOLD CONTRACT

/ /// THE SEPT 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	64.302Oz 2 KILOBARS Brinks           .
Deposit to the Dealer Inventory in oz	nil
Deposits to the Customer Inventory, in oz	nil oz
No of oz served (contracts) today	13 notice(s) 1300 OZ 0.1182 TONNES
No of oz to be served (notices)	110 contracts    11,000 OZ 0.3421TONNES
Total monthly oz gold served (contracts) so far this month	3969 notices 396,900oz 12.348 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month	x

0 dealer deposits:

total dealer deposits:  nil oz

we have 0 customer deposits

total deposits nil oz

withdrawals: 1

i) Out of Brinks 64.302 oz

2KILOBARS

TOTAL WITHDRAWALS: 64,302 oz

adjustments:0

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR SEPTEMBER

For the front month of SEPT. we have an oi of 123 contracts having LOST 21 contracts. We had 38 notices filed on FRIDAY so we GAINED 17 contracts or 1700 oz will stand at the comex as these boys seek metal on this side of the pond.

OCTOBER GAINED 238 CONTRACTS UP TO 42,449 CONTRACTS

NOVEMBER GAINED 135 CONTRACTS TO STAND AT 336

DECEMBER, THE BIGGEST DELIVERY MONTH GAINED 7,174 CONTRACTS TO 442,312

We had 13 contracts filed for today representing 1300 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 13 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 0 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for SEPT /2024. contract month, we take the total number of notices filed so far for the month (3969x 100 oz ) to which we add the difference between the open interest for the front month of  SEPT 123 CONTRACTS)  minus the number of notices served upon today  (13x 100 oz per contract( equals  407,900 OZ  OR 12.687 TONNES.

thus the INITIAL standings for gold for the SEPTEMBER contract month:  No of notices filed so far (3969x 100 oz +we add the difference for front month of SEPT  (123 , OI} minus the number of notices served upon today (13 x 100 oz which equals  407,900 oz (12.687 TONNES) 

TOTAL COMEX GOLD STANDING FOR SEPT.: 12.687 TONNES WHICH IS HUGE FOR THIS  NON ACTIVE DELIVERY MONTH IN THE CALENDAR. 

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COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,885,944.092 oz 58.660 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  16,970,660.519OZ  

TOTAL REGISTERED GOLD 7,484,287.324( 232.79tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,486,373.195OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 5,598343oz (REG GOLD- PLEDGED GOLD)= 174,13tonnes //

END

SILVER/COMEX

SEPT 16 2024

INITIAL

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

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	212,884,188OZ Delaware CNT .
Deposits to the Dealer Inventory	nil oz
Deposits to the Customer Inventory	nil
No of oz served today (contracts)	21 CONTRACT(S)    (105,000 OZ)
No of oz to be served (notices)	65 contracts  (0.325 million oz)
Total monthly oz silver served (contracts)	4857 Contracts  (24.285 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : NIL oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  0 customer deposits:

total customer deposit nil oz

JPMorgan has a total silver weight: 134.996million oz/305.976 million  or 44.13%

adjustment:0

withdrawals: 2

i) Out of Delaware 979.35oz

ii) Out if CNT 211,920.908 iz

total customer withdrawals: 212,984,188 oz

TOTAL REGISTERED SILVER: 76,168MILLION OZ//.TOTAL REG + ELIGIBLE. 305,976million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR SEPTEMBER:

silver open interest data:

FRONT MONTH OF SEPT/2024 OI: 86 CONTRACTS HAVING GAINED 17 CONTRACT(S). 

WE HAD 13 NOTICES FILED ON FRIDAY, SO WE GAINED 30 CONTRACTS OR 150,000 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 A LOSS OF 34 OF OPEN INTEREST CONTRACTS AND THUS WE HAVE 1438 OPEN INTEREST CONTRACTS FOR OCTOBER.

NOVEMBER SAW ITS ANOTHER GAIN OF 80 CONTRACTS TO STAND AT 109

DECEMBER SAW A GAIN OF 4454 CONTRACTS UP TO 120,295

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 21 for 105,000 oz

CONFIRMED volume; ON FRIDAY 88,282huge

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 4857 x 5,000 oz = 24.285 MILLION oz 

to which we add the difference between the open interest for the front month of SEPT(86 and the number of notices served upon today 21x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the SEPT/2024 contract month:  4857 notices served so far) x 5000 oz + OI for the front month of SEPT (86x number of notices served upon today minus (21)x 5000 oz of silver standing for the SEPT  contract month equates to 24.610 MILLION OZ. 

 New total standing: 24.610 million oz.

There are 76.168million 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 16 WITH GOLD DOWN $1.25 ON THE DAY; NO CHANGES IN GOLD AT THE GLD /:// //////INVENTORY RESTS AT 870,71 TONNES

SEPT 13  WITH GOLD UP $30.45 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD /:/A DEPOSIT OF 14.54TONNES OF GOLD VAPOURINTO THE GLD/ //////INVENTORY RESTS AT 870,71 TONNES

SEPT 12  WITH GOLD UP $37.80 ON THE DAY; HUGE CHANGES IN GOLD AT THE GLD /:/A DEPOSIT OF 1.74 TONNES OF GOLD INTO THE GLD/ //////INVENTORY RESTS AT 866.18 TONNES

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: 870,71 TONNES, TONIGHTS TOTAL

SILVER

SEPT16//WITH SILVER UP $0.10 : HUGE CHANGES IN SILVER INVENTORY:. ADEPOSIT OF 958,000 OZ INTO THE SLV/. /: .///./// /INVENTORY AT SLV 468.606MILLION OZ

SEPT13//WITH SILVER UP $1.13/ NOCHANGES IN SILVER INVENTORY:./. /: .///./// /INVENTORY AT SLV 467.648MILLION OZ

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

Kamalanomics: Robbing The Future To Appease The Present

Monday, Sep 16, 2024 – 10:00 AM

Via SchiffGold.com,

As the 2024 presidential race ramps up, Vice President Kamala Harris has unveiled an economic agenda that she claims will lower costs for American families and boost economic growth. However, her proposals reveal a reliance on heavy-handed government intervention that will harm the very people she aims to help. At the core of Harris’ approach is a fundamental distrust of free markets and a belief that the government can effectively micromanage the country’s economic systems.

One of Harris’ most concerning proposals is her plan to impose federal limits on price increases for food producers and grocers. While rising food prices are undoubtedly a burden for many families, attempting to control prices through government intervention is a recipe for disaster. Price controls invariably lead to shortages and black markets. Looking at the failures of price controls in countries like Venezuela is enough to see the devastating consequences of such policies. Instead of allowing market forces to efficiently allocate resources and incentivize increased production, Harris’ approach will result in reduced investment in the food industry and potential shortages of staple goods.

Harris’ housing proposals similarly rely on heavy-handed government intervention. Her plan calls for the construction of 3 million new housing units to ease supply shortages, along with providing $25,000 in down payment support for first-time homebuyers. Having the federal government directly subsidize construction on this scale risks crowding out private investment, leading to crippling public sector inefficiencies.

Instead, housing reform should focus on removing regulatory barriers to new construction at the local level. Restrictive zoning laws and mandates are the primary culprits behind America’s housing shortage. By incentivizing states to improve these processes, we would promote private sector housing development without incurring massive federal spending. The solution is less government intervention, not more.

Harris’ tax proposals also reflect a misguided belief that we can tax and spend our way to prosperity. By seeking to raise taxes on corporations and high-income individuals, she risks reducing the capital investment needed to drive productivity growth and real wage increases.

The vice president also plans to expand various subsidies for housing, childcare, and other expenses. While they appear to give support to families, these policies fail to address the root causes of affordability challenges and risk creating new forms of government dependency. A better approach would be to pursue policies that decrease the government influence in the economy which causes the inflation that is harming families.

Proponents of Harris’ plan argue that it will provide much-needed relief to struggling American citizens. However, the long-term consequences outweigh the potential short-term benefits. According to an analysis by the Penn Wharton Budget Model, Harris’ economic proposals would increase federal deficits by $1.2 trillion over the next 10 years on a conventional basis, and by $2.0 trillion when accounting for macroeconomic effects. This massive increase in government debt will tend to crowd out private investment and lead to higher interest rates, potentially triggering a recession.

Moreover, the Penn Wharton analysis projects that Harris’ plan would actually reduce GDP by 1.3 percent by 2034 and by 4 percent within 30 years, relative to current law.

This decline in economic output would translate to lower wages for workers across all income groups. The model estimates that pre-tax wages would fall by nearly one percent over the next decade and by 3.3 percent by 2054.

These projections highlight the central flaw in Harris’ approach: by prioritizing short-term government intervention over policies that foster long-term economic growth, her plan risks making everyone worse off in the long run.

Ultimately, Harris’ economic vision reflects a belief that enlightened bureaucrats and politicians in Washington can effectively plan and manage a $25 trillion economy.

But the failures of central planning throughout history show that free markets remain the greatest engine for prosperity and human flourishing.

Rather than expanding government control over vast swaths of the economy, policymakers should focus on creating the conditions for organic economic growth. This means maintaining sound monetary policy, reducing regulatory burdens, promoting free trade, and fostering innovation and entrepreneurship.

Economic freedom, not top-down control, is the most effective way to build a more prosperous future for all.

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

Looks like gold is excellent for getting around U.S. sanctions

Submitted by admin on Fri, 2024-09-13 16:34 Section: Daily Dispatches

Russia Begins Paying China Traders Using Couriered Gold in Hong Kong

From RussiasPivotToAsia.com
Thursday, September 12, 2024

Some Russian businesses have begun using gold to pay Chinese suppliers to get around U.S. sanctions and threats of sanctions against Chinese banks affecting Russia-China bank transfers. 

The alternative solution means that gold is purchased in Russia, transported by private courier to Hong Kong, where it is sold, and the cash is deposited into the Chinese suppliers’ account at a local bank.

Hong Kong is a free port and does not levy any import duty on gold, although it is mandatory to declare the gold to Hong Kong customs upon arrival. 

The declaration process is straightforward and the associated fees are minimal. However, proper declaration is crucial to ensure compliance with Hong Kong’s regulations and to avoid any legal complications. The process avoids all use of the banking system except for the deposits into secured Chinese bank accounts.

Russian couriers transport the gold and its ownership documents across the border and obtain an authentication seal and receipt signature from Chinese brokers, who then provide cash, which can be used to settle transactions with Chinese suppliers. …

… For the remainder of the report:

https://russiaspivottoasia.com/russia-begins-paying-china-traders-in-hong-kong-using-couriered-gold/

* * *

4. OTHER GOLD COMMENTARIES/:live from the vault: 190 Andrew Maguire talks with Dave Kranzler

Market analyst Kranzler, London trader Maguire discuss market rigging et al.

Submitted by admin on Fri, 2024-09-13 18:00 Section: Daily Dispatches

5:59p ET Saturday, September 13, 2024

Dear Friend of GATA and Gold:

Financial letter writer Dave Kranzler is London metals trader Andrew Maguire’s guest this week on Kinesis Money’s “Live from the Vault” program, discussing market manipulation, the likely consequences of the Federal Reserve’s impending reduction of U.S. interest rates, the explosive rise in U.S. government debt, and whether anyone outside the United States will want to own U.S. government bonds.

The program is an hour long and can be viewed at YouTube here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

end

New Jersey eliminates sales tax on gold and silver

Submitted by admin on Sat, 2024-09-14 16:56 Section: Daily Dispatches

From Money Metals News Service, Eagle, Idaho
Thursday, September 12, 2024

Sound-money advocates are hailing their hard-fought victory today as New Jersey’s Senate Bill 721 was signed into law,  thereby removing sales taxes on purchases of gold, silver, and other precious metals above $1,000 effective January 1, 2025.

The long-anticipated bill signing by Gov. Phil Murphy positions New Jersey alongside 44 other states that recognize the importance of exempting constitutional sound money from burdensome taxation.

Supported by the Sound Money Defense League, Money Metals Exchange, and in-state activists, Senate Bill 721 enjoyed unanimous support from both sides of the political aisle, including 13 Democratic and Republican formal sponsors.

“In 2024 New Jersey was one of seven states to have passed legislation that removes taxes on precious metals, reaffirms gold and silver as constitutional money, empowers state treasurers to invest in physical gold, and more,” reported Stefan Gleason, president of Money Metals and chairman of the league. …

… For the remainder of the report:

https://www.moneymetals.com/news/2024/09/12/signed-into-law-new-jersey-eliminates-sales-taxes-on-gold-and-silver-003457

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

Arabica bean hits its highs as coffee inflation soars

(zerohedge)

Arabica Bean Hits 2011 Highs As Coffee Inflation Soars 

Monday, Sep 16, 2024 – 09:00 AM

Consumers are furious that ground beef, orange juice, eggs, cocoa, and food in general have skyrocketed in price. For low—and middle-income households, a trip to the supermarket has become a painful experience in the era of Bidenomics. Adding to the strain, the cost of a cup of coffee will rise even higher into the end of the year and likely in the first half of 2025.  

Bloomberg reports that premium arabica beans are experiencing adverse weather conditions in top producer Brazil, pushing prices up in New York to a 13-year high. 

Coffee rallies have been gathering pace from ongoing concerns about harsh weather in top producer Brazil. The nation is wrapping up its 2024-25 harvest and production prospects weakened after heat and dryness hurt fields. Attention is now shifting to next season’s potential, and Brazil has been gripped by its worst drought in decades, threatening further crop damage.-BBG

Arabica futures in New York jumped to $2.6475 per pound in New York, the highest since 2011. Prices are up 40% on the year as shortages of the cheaper robusta beans increase demand for arabica by coffee chains. 

Bloomberg outlines the latest price hikes:

Across the supply chain, the impact of this year’s rally is already evident. JM Smucker Co., whose brands like Folgers and Café Bustelo dominate the US’s at-home coffee market, hiked its prices earlier this summer. Restaurant chain Pret A Manger scrapped its UK coffee subscription that gave customers as many as five drinks per day.

Meanwhile, Giuseppe Lavazza, chairman of coffee roaster Luigi Lavazza SpA, told Bloomberg in a separate report that low-cost robusta beans in Vietnam, the world’s top producer of robusta, have experienced adverse weather conditions contributing to a production shortfall, thus fueling prices higher and higher. 

“We’ve never seen something like that in the history of our industry,” Lavazza said, adding, “And what is very special is the long-lasting effect of this.”

Lavazza said the European Union Deforestation Regulation, which will be enforced by the end of 2024, will ensure companies do not source coffee beans from deforested lands. 

“No doubt that the coffee that European roasters are going to buy will cost much more,” he noted, adding, “Companies in the coffee industry are facing very strong headwinds.”

The big takeaway for consumers is that food inflation is very sticky. Get used to higher prices. And somehow, the Marxists in America believe supermarkets are gouging customers.

6 CRYPTOCURRENCY NEWS

END

ASIA TRADING/MONDAY MORNING/SUNDAY  NIGHT

SHANGHAI CLOSED //Hang Seng CLOSED UP 53,03 PTS OR 0.31% // Nikkei CLOSED %//Australia’s all ordinaries CLOSED UP 0.21%///Chinese yuan (ONSHORE) CLOSED UP TO 7,0903 CHINESE YUAN OFFSHORE CLOSED UP TO 7.0928 Oil UP TO 69.26 dollars per barrel for WTI and BRENT UP AT 72.16 Stocks in Europe OPENED MOSTLY ALL GREEN

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

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

ONSHORE YUAN:   CLOSED UP TO 7.0903

OFFSHORE YUAN: DOWN TO 7.0928

SHANGHAI CLOSED

HANG SENG CLOSED UP 53.03 PTS OR 0.31%

2. Nikkei closed

3. Europe stocks   SO FAR:  MOSTLY ALL RED

USA dollar INDEX DOWN TO  100.35 EURO RISES TO 1.1125 UP 58 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +0.851 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 140.14…… 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 UP for WTI and UP FOR BRENT this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.1425 Italian 10 Yr bond yield DOWN to 3.451 SPAIN 10 YR BOND YIELD DOWN TO 2,933

3i Greek 10 year bond yield DOWN TO 3.104

3j Gold at $2581.65 /Silver at: 30.94  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 50 //100  roubles/dollar; ROUBLE AT 91.21

3m oil into the 69 dollar handle for WTI and  72 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 140.01  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 0.8443 as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9394  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: 3.642 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 3.966 DOWN 4 BASIS PTS/

USA 2 YR BOND YIELD:  3.557 DOWN 2 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 33,99…

10 YR UK BOND YIELD: 3.8050 UP 2 PTS

10 YR CANADA BOND YIELD: 2.894DOWN 4 BASIS PTS

5 YR CANADA BOND YIELD: 2.706 DOWN 5 PTS.

2a New York OPENING REPORT

Futures Flat As Traders Brace For First Rate Cut Since 2020

Monday, Sep 16, 2024 – 08:15 AM

Futures are flat, erasing an earlier modest gain, ahead of a very busy week which will see the first Fed rate cut since March 2020. As of 7:45am, S&P futures were down fractionally, with small-caps outperforming following a trend from late last week as investors price in a 50bps rate cut on Wednesday. Nasdaq futures are down 0.3% as Semis lag and the Mag7 are mixed and AAPL slumps as much as 2.4% as noted analyst Ming-Chi Kuo notes that, based on his first weekend pre-order analysis, demand for the iPhone 16 Pro series is lower than expected. There was little reaction in markets to the second attempt to assassinate Donald Trump. Shares of Trump Media & Technology rose as much as 10% in premarket trading after the former president said he has “absolutely no intention of selling” his stake when a lockup expires this week. While JPM’s Andrew Tyler asks rhetorically this morning “let’s see if last week’s bid returns“, it does not look very likely since we just entered the worst 2 week calendar period for the year, and stocks enter a buyback blackout, plus there is no tech conference to spike the euphoric AI narrative yet again. Bond yields are down as the curve bull steepens, pressuring the USD which slides for the 4th day in a row to its lowest level in more than eight months. The move was driven by strength in the yen, which touched the highest since July 2023 amid speculation this week’s slew of central bank decisions will lead to a narrowing interest rate differential between the US and Japan. Commodities are higher with Energy and Metals boosting the index. Today is a light macro day ahead of tomorrow’s Retail Sales and Weds’ Fed Mtg where the market remains split on 25 o5 50bps.

In premarket trading, Apple shares fall 2.2% as TF International analyst Ming-Chi Kuo notes that demand for the iPhone 16 Pro series is lower than expected, based on his pre-order analysis of the first weekend. Intel rose 1% as the chipmaker officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon, according to people familiar with the matter. Here are some other notable premarket movers:

• Colgate-Palmolive (CL) shares drop 1.5% after Wells Fargo downgraded the stock to underweight from equal-weight, saying the household and personal care products company’s growth is set to normalize.
• Exact Sciences (EXAS) shares rise 11% after the diagnostics company released performance data from a study of its blood-based colon cancer screening test candidate.
• Nuvalent (NUVL) shares jump 16% after the drug developer presented updated data from two early-stage trials of its lead cancer programs that impressed Wall Street.
• Stratasys (SSYS) shares rise 6.0% after the three-dimensional printer maker’s board authorized a $50 million share repurchase program. The new repurchase program represents 10% of the company’s current market value, data compiled by Bloomberg show.
• Trump Media (DJT US) rises 1.3%, with the stock set to extend Friday’s gains, after Donald Trump said he has “absolutely no intention of selling” his stake when a lockup period expires later this week.

Stocks have not reacted to the biggest news of the weekend, a second assassination attempt on Donald Trump, who is safe after his Secret Service detail opened fire at a man who was wielding an AK47 assault rifle at his West Palm Beach, Florida, golf course Sunday, in what the FBI called an apparent (second) assassination attempt. According to law enforcement officials, Secret Service officers clearing the golf course ahead of Trump spotted a man in the woods with a gun. The suspect — later identified as radical left-wing nutjob 58-year-old Ryan Routh who had previously fought in Ukraine against Russia — fled in a black car but was later detained after a chase.

The start of a long-anticipated US easing cycle takes center stage this week, part of a 36-hour monetary roller coaster that includes policy decisions in Brazil, South Africa the UK and Japan. It’s come down to a virtual coin toss for traders on whether the Fed will go for a 25 or 50 basis-point cut.

“There has rarely been so much uncertainty over central bank intentions,” analysts at Edmond de Rothschild wrote in a note. “They are caught between signs of economic weakness and inflation which is stubbornly resisting a return to the 2% target.”

For Joyce Chang, chair of global research at JPMorgan, the Fed has scope to make the bigger move and doing more now would probably send the right signal. “We are still sticking with a 50 basis-point call, but it is a debate, internally and within the broader market,” Chang said on Bloomberg TV. “When I talk to investors, 25 versus 50 isn’t so much the debate, but really how does the US growth story look.” That view was echoed by several other top Wall Street strategists, who suggested that the health of the US economy could have more bearing on stocks than the size of the Fed’s rate cut. The flipside, of course, is that a rate cut now with home prices once again rising, will spark another episode of runaway inflation, something which gold at a record $2580 is clearly anticipating.

“If the labor data weaken from here, markets can trade with a risk-off tone regardless of whether the Fed’s first move is 25 or 50 basis points,” Morgan Stanley’s Mike Wilson wrote in a note. On the other hand, if jobs were to strengthen, a series of 25 basis-point reductions into mid-2025 could prop up equity valuations further, he said. Goldman Sachs and JPMorgan analysts also warned that rates alone were less important for stocks, given the uncertain outlook for the economy.

The Bank of Japan, meanwhile, is expected to keep rates on hold after roiling global financial markets with an increase at its last meeting. “The communication from the BOJ will be critical to let market participants know exactly, as clear as they can be, what the next move and the particular timings of the next moves will be,” Katrina Ell, director of economic research Moody’s Analytics, told Bloomberg Television.  

European stocks are little changed as mining shares provide a drag after data showed China’s economy lost momentum in August. Among single stocks Rexel and Ipsen are the biggest gainers, while the biggest Polish insurer PZU plunged as heavy flooding hit the country’s southwest region. Here are the biggest movers Monday:

• Rexel shares surge as much as 14%, their steepest gain in four years, after the French electrical equipment group said it rejected an unsolicited takeover offer from QXO Inc. because it “significantly” undervalued the company
• Ipsen advances as much as 5.8% following an upgrade to outperform from sector perform at RBC, based on a higher peak sales estimate for the French drugmaker’s Iqirvo for primary biliary cholangitis
• Saipem shares jump as much as 6.1%, the most intraday since March, after the Italian drilling company won an offshore contract with QatarEnergy LNG worth about $4 billion
• Icade gains as much as 6.9% to the highest in more than three months, after Citi double-upgraded to buy and set a Street-high target, saying the commercial property investor’s dividend yield of about 20% is “hard to ignore”
• Crayon jumps as much as 18%, the most since August 2020, after Bloomberg reported Swiss technology firm SoftwareOne is exploring a potential combination of the two firms as it considers strategic options
• Intermonte Partners SIM jumped as much as 20% in Milan after asset manager Banca Generali made a takeover bid on Monday at €3.04 per share, with the aim of delisting it
• TI Fluid Systems shares rise as much as 17% after the auto supplier rejected a second takeover proposal from ABC Technologies, arguing the bid “significantly undervalued” the business. Analysts at Jefferies agree the valuation is too low
• TT Electronics shares plunge as much as 37%, the most on record, after the electronics company warned revenue will be lower than previously expected in the second half because of “weak” trading at two of its North American sites, which will also hurt profitability
• PZU insurer drops 13% as heavy flooding hits southwest Poland

Earlier, Asian equities climbed for a third day, bolstered by expectations of a rate cut by the US Fed this week. The MSCI Asia Pacific Index climbed 0.5%, with Hong Kong-listed tech stocks, including Tencent and Meituan, along with Australian lenders featuring among top gainers. Japan, Korea and China markets were closed for a holiday. In China, data published over the weekend showed industrial output recording its longest slowing streak since 2021, while consumption and investment were weaker than expected. That has bolstered expectations of more stimulus from the PBOC before year-end, adding to tailwinds from an expected Fed rate cut that might bring in larger emerging market flows.

“Support from fiscal policy, which has lagged throughout 2024, could step up,” Wei He, an analyst with Gavekal Research wrote in a note. “The government will probably introduce some additional stimulus measures in coming months.” Still, those measures are unlikely to convince market participants that nominal growth prospects are improving, she said.

In FX, the Bloomberg Dollar Spot Index falls 0.4% to the lowest since January as traders added bets on a 50bps interest-rate cut by the Federal Reserve this week while expectations of a narrowing rate differential between the US and Japan boosted the yen. The Japanese yen and Norwegian krone are the best performers among the G-10 currencies, rising 0.7% each.

In rates, Treasuries extended their gains, with the yield on the policy-sensitive two-year note falling to the lowest since September 2022 and outperformed as markets see higher odds that Wednesday’s Fed decision will be a half-point rather than a quarter-point rate cut. Front-end yields are richer by more than 2bp, longer maturities by 1bp-2bp; the 10-year yield is around 3.64% outperforming bunds and gilts slightly; 2s10s spread is ~1bp steeper on the day at ~8bp. Swap contracts price in around 37bp of easing for the September meeting and around 75bp by November, anticipating that one of the next two moves will be a a half-point cut. Corporate new-issue volume stands to be heavy Monday as borrowers aim to complete offerings ahead of the Fed decision. IG dollar issuance slate includes a couple of deals so far; around $25b of supply is expected this week, concentrated on Monday and Tuesday ahead of Wednesday’s FOMC decision. This week’s Treasury coupon supply includes $13b 20-year bond reopening Tuesday and $17b 10-year TIPS reopening Thursday

In commodities, oil prices advance, with WTI rising 0.8% to near $69.20 after its first weekly gain in a month as a drop in Libyan exports was offset by China’s economic woes. Meanwhile hedge fund traders are net short the oil complex for the first time on record. Spot gold rises $9 to around $2,586/oz. Bitcoin falls over 1%. gold rose to a fresh record high as markets waited for the Fed easing.

Looking at today’s light calendar, the data includes only September Empire manufacturing at 8:30am; this week we get retail sales, industrial production, housing starts and existing home sales. Fed speakers are in self-imposed quiet period until the Sept. 18 policy decision

Market Snapshot

• S&P 500 futures little changed at 5,633.50
• STOXX Europe 600 little changed at 515.95
• MXAP up 0.5% to 183.99
• MXAPJ up 0.5% to 571.56
• Nikkei down 0.7% to 36,581.76
• Topix down 0.8% to 2,571.14
• Hang Seng Index up 0.3% to 17,422.12
• Shanghai Composite down 0.5% to 2,704.09
• Sensex up 0.2% to 83,022.63
• Australia S&P/ASX 200 up 0.3% to 8,121.60
• Kospi up 0.1% to 2,575.41
• German 10Y yield little changed at 2.14%
• Euro up 0.4% to $1.1120
• Brent Futures up 0.7% to $72.12/bbl
• Gold spot up 0.4% to $2,587.72
• US Dollar Index down 0.43% to 100.68

Top Overnight News

• President Donald Trump survived a second assassination attempt on his golf course in West Palm Beach and the Secret Service opened fire at a suspected person with a weapon while Trump was golfing, according to law enforcement sources cited by AP. Trump’s campaign said the former President is safe following a shooting in his vicinity, while Trump said he will never give up and nothing will stop him. Furthermore, the FBI said it is investigating what appears to be an assassination attempt and a Palm Beach law enforcement official said the suspect was arrested and that they found an AK-47 type weapon.
• China economic data continues to fall short of expectations, with retail sales coming in +2.1% (down from +2.7% in Jul and below the Street’s +2.5% forecast) and industrial production at +4.5% (down from +5.1% in Jul and below the Street’s +4.7% forecast) while home price deflation worsens and time runs out for the gov’t to achieve its full-year targets. SCMP
• Major American retailers including Amazon and Walmart have been quietly exploring shifting toward a business model that would ship more goods directly to consumers from Chinese factories and require fewer U.S. workers in retail stores and logistics centers. NYT
• The US and UK are increasingly concerned Russia is giving Iran information and technology that may help it to build nuclear weapons, Western officials familiar said. Iran said it’s ready to enter talks under the framework of the 2015 nuclear deal, which Trump scrapped as president. BBG
• Bank of Canada governor Tiff Macklem has opened the door to accelerating the pace of interest rate cuts, signaling policymakers could switch to jumbo 50 basis point moves should growth disappoint. FT
• The Fed should cut by 50bp this week according to Greg Ip in the WSJ given cooling inflation (which is causing monetary policy to passively tighten) and rising employment risks. Ip said the Fed’s rate decision this week looks more difficult than it should be and the real question isn’t how much to cut, but where rates ought to be, while it added that the answer is much lower which argues for a half-point cut: WSJ
• DirecTV and Dish are in talks to merge, a combination that would create the largest pay-TV operator in the country (the firms hope regulators will be more amenable to a transaction this time around given shifting industry dynamics). BBG
• OpenAI could close a fundraising round at a valuation of $150B within weeks (demand has been strong), although the specific mechanism will be a convert, and the valuation could adjust lower if the firm is unsuccessful in altering its corporate structure to remove a cap on profits. RTRS

A more detailed look at global markets courtesy of Newsquawk

APAC stocks were mixed amid the holiday-thinned conditions with many key markets in the region closed and as participants braced for this week’s central bank announcements including from the FOMC, BoE and BoJ. ASX 200 mildly gained as real estate and financials led the advances across most sectors aside from defensives. Hang Seng was dragged lower amid the absence of mainland participants and with underperformance seen in property developers after Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.

Top Asian news

• China is strongly dissatisfied with and firmly opposes the US locking in tariff hikes on Chinese imports. Furthermore, China urges the US to immediately correct its ‘wrongdoings’ and lift all tariffs imposed on Chinese goods, while China will take necessary measures to firmly safeguard the interests of Chinese firms, according to MOFCOM.
• China Stats Bureau spokesperson said China will step up macro policy adjustments, while they expect a mild rebound in the consumer price index and for quickening bond issuance and policy initiatives to support China’s investment growth.

European bourses, Stoxx 600 (U/C) began the session almost entirely in the red, albeit modestly so. As the morning progressed, sentiment gradually improved and now displays more of a mixed picture. European sectors hold a negative bias; Retail takes the top spot alongside Consumer Products whilst Basic Resources lags, largely a factor of the poor Chinese data over the weekend. US Equity Futures (ES +0.1%, NQ U/C, RTY +0.1%) are indicative of a flat/slightly firmer open, ahead of the FOMC Policy Announcement on Wednesday. Intel (+3.5%) gains after the Co. reached a deal to make chips for the US military; a deal worth as much as USD 3.5bln.

Top European news

• ECB’s de Guindos says ECB projections show that inflation by 2025-end will hover around 2% target. Inflation in services is still resisting, this remains the ECB’s main concern. ECB expects a significant slowdown in growth of labour costs next year. ECB wants to keep all options open when it comes to interest rate decisions. The ECB’s balance sheet is expected to decrease by around EUR 40bln per month.
• ECB’s Kazimir says the ECB will almost surely have to wait until December for the next rate cut; it would take a significant shift in outlook for ECB to cut in October; very little new info in the pipeline before October meeting. There is no rush to cut rates, safest to wait for the outlook to become clearer.
• UK Chancellor Reeves was advised by a group of leading economists that cutting public investment in the UK would damage the foundations of the economy, according to FT.

FX

• DXY has extended the slump seen since last Thursday with the dovish Fed repricing the main catalyst. Markets now assign a circa 59% chance of a 50bps reduction this week compared to 15% post-CPI last week. The next target for DXY comes via the YTD trough at 100.51.
• EUR/USD is back above 1.11 thanks to the softer USD. EUR/USD is now eyeing the post-payrolls peak from September 6th at 1.1155 with the YTD high at 1.1201.
• GBP is firmer vs. the USD but flat against the EUR heading into the BoE on Thursday. Expectations are for an unchanged rate with a 7-2 vote split (dovish dissent expected from Dhingra and most likely Ramsden). Attention for Cable is on a test of 1.32; not breached since 6th September.
• JPY is the best performer across the majors as further dovish Fed repricing stands in contrast to a hawkish BoJ. USD/JPY has slipped below 140 for the first time since July 2023.
• Both antipodes are firmer vs. the USD and able to overlook the soft Chinese trade data overnight. AUD/USD has been able to undo much of the downside seen late last week with the current session high of 0.6736.
• CAD is a touch firmer vs. the USD but less so than peers following an interview in the FT with BoC Governor Macklem who signalled that the Bank could increase the size of rate cuts from 25bps to 50bps on account of softening labour market data and weakening crude prices.
• CNH is marginally firmer vs. the USD as the broadly softer dollar overshadows the negative follow-through from further soft Chinese metrics over the weekend.
• Bank of Canada Governor Macklem opened the door to increasing the pace of rate cuts as growth fears mount, according to FT.

Fixed Income

• USTs are relatively contained as markets count down to this week’s FOMC policy announcement, as it stands market pricing has the odds of a 50bps cut at around 60% and a 25bps move at 40%. Despite the shift in pricing, USTs themselves are essentially unchanged at 115-15 in a thin five tick range.
• Bunds are incrementally firmer and towards the midpoint of 134.71-97 parameters. Holding within Friday’s 134.62-135.19 range. The main focus point for the bloc is a speech from ECB’s Lane at 13:00BST / 08:00 EDT, a text is expected.
• Gilts are also slightly higher and holding around 20 ticks above the 101.00 mark and just off a 101.30 session peak. For the UK, the week’s focus point is the BoE on Thursday (exp. to hold, 7-2 split possible).

Commodities

• Crude is modestly firmer intraday amid the softer Dollar but despite the downbeat Chinese data over the weekend which reinforced the theme of an ailing Chinese economy following the Chinese inflation and trade balance figures in the week prior. Brent November trades within 71.52-72.39/bbl.
• Precious metals are firmer across the board amid the softer Dollar and with added optimism for precious metals as spot gold continues printing fresh all-time highs, with today’s parameter between USD 2,577.59-2,589.72/oz.
• Mixed trade across base metals with copper on a softer footing following the sub-par Chinese data. 3M LME copper resides in the middle of a 9,219.50-9,291.50/t range.
• UBS cuts Q4 2024 Brent price forecast to USD 75/bbl from USD 83/bbl; Cuts 2024 Brent forecast by USD 4/bbl to USD 80/bbl
• Almost a fifth of US Gulf of Mexico crude oil production remained offline and nearly 28% of natural gas production was shut-in in the aftermath of Francine on Sunday, according to the US offshore energy regulator cited by Reuters.
• BP (BP/ LN) is restarting operations at its Castrol lubricants facility in Port Allen, Louisiana after determining conditions are safe to return and Shell (SHEL LN) is ramping up production at Perdido following the resolution of downstream issues, according to Reuters.
• Chevron (CVX) said its US Gulf of Mexico Jack/St Malo and Big Foot platforms are producing at reduced rates due to onshore gas plant disruption, while it continues to return workers and restore oil production at the US Gulf of Mexico Anchor and Tahiti platforms shut-in by Francine with initial assessments showed that neither the Anchor nor Tahiti platforms suffered significant damage, according to Reuters.
• ANZ expects gold to reach USD 2,900/oz by end of 2025 (current spot price USD 2,587.50/oz).

Geopolitics: Middle East

• Sirens sounded in Avivim in the Upper Galilee to warn of rocket launches, according to Al Jazeera.
• Yemen’s Houthis claimed responsibility for a missile attack on central Israel and stated that a Yemeni missile reached Israel after 20 missiles failed to intercept it. There were separate reports that Israel’s military announced sirens were set off by a missile which crossed into the country from the east and fell in an open area but caused no casualties.
• Israeli PM Netanyahu said Yemen’s Houthis should know that they will exact a heavy price for every attempt to harm Israel and noted that a missile fired from Yemen most likely fragmented in mid-air, while he also said the current situation in northern Israel will not continue.
• Houthis said they downed a US drone over Dhamar

Geopolitics: Other

• Russia’s Medvedev said Russia already has formal grounds to use nuclear weapons but has so far chosen not to do so, while their patience has its limits and their response might come in non-nuclear form.
• Russia’s Deputy Foreign Minister said Moscow is aware that the West decided on whether to allow Ukraine to strike deep within Russia and that Moscow should use other means since verbal warnings to the West against escalation are not working, according to TASS.
• G7 Foreign Ministers condemned in the strongest terms Iran’s export and Russia’s procurement of Iranian ballistic missiles, while they called for Iran to immediately cease all support to Russia’s illegal war against Ukraine and halt such transfers of ballistic missiles, according to Reuters.
• Ukrainian President Zelensky said Ukraine brought home 103 POWs from Russia in a second swap in two days and noted the incursion into Kursk helped bring about a prisoner exchange with Russia.
• Ukrainian spy chief Budanov said North Korea’s artillery supplies to Russia are a major problem and have a visible battlefield impact. Budanov said that Russia has ramped up production of Iskander ballistic missiles and guided bombs, as well as commented that Russia expects to face recruitment problems in the summer of 2025.
• US National Security Adviser Sullivan said long-range weapons permission is the subject of intense consultations among allies and that fighting around Ukraine’s Pokrovsk is of unique concern, while the US is preparing to present a substantial Ukraine aid package this month.
• US military member was detained in Venezuela and it was also reported that two additional US citizens were detained, according to a State Department spokesperson cited by Reuters.
• Russian and Chinese warships practiced missile and artillery firing in the Sea of Japan as part of Ocean-2024 drills, according to RIA.
• China’s military said the transit of two German warships in the Taiwan Strait increased security risks and sent a wrong signal. China’s military also stated that Chinese troops are always on high alert and ready to counter all threats and provocations.
• China’s Coast Guard said Philippine vessel 9701 withdrew from the Sabina Shoal on September 14th which ‘illegally’ stayed there for nearly five months, while it added that China took measures against the Philippine vessel in accordance with the law and the Philippines’ repeated attempts to organise supple replenishment to the vessel had all failed. However, the Philippines said it would send another vessel to immediately takeover from the vessel in the disputed Spratlys.

US Event Calendar

• 08:30: Sept. Empire Manufacturing, est. -4.0, prior -4.7

DB’s Jim Reid concludes the overnight wrap

This time last week we suggested that if we were going to get 50bps from the Fed on Wednesday we probably needed a media leak as we approached or entered this past weekend. Thursday’s WSJ and FT articles certainly weren’t smoking guns towards 50bps but they suggested the prospect was higher than where it was after Wednesday’s slightly firmer CPI report. It’s hard to know how informed the WSJ article was but as you will remember, the same author (Nick Timiraos) wrote a much firmer endorsement of a surprise 75bps hike just before the June 2022 FOMC which completely moved the needle at the time. There was little doubt that this was well informed. As you’ll see from my CoTD on Friday, our economists and strategists put both WSJ articles (2022 vs 2024) from this same author into our proprietary AI tool (it’s not called ChatDBT but I’ll refer to it that way) and it told us that “the June 2022 article conveys a strong sense of urgency and conviction regarding the need for a significant rate hike to combat inflation. The September 2024 article, while discussing the possibility of a rate cut, presents a more balanced and less decisive outlook, reflecting the Fed’s cautious approach in navigating economic uncertainty”. So it confirmed our prior about the fresh WSJ article that although this could be a signal that things were closer than we thought, there is no slam dunk here. We feel this is a good use case for AI as we all have our biases and its nice to see what the unbiased linguistic analysis suggests. I’ll be typing everything my wife tells me into this now to ensure I get the true meaning not what my biases interpreted.

Back to the Fed, in the absence of any weekend articles that could have been sourced to the Fed, it really leaves the decision on Wednesday on a knife-edge, something that hasn’t often been the case by the time we ultimately arrived at each FOMC in recent years. Normally its been fairly obvious that close to the meeting or the Fed have found a way of guiding the market to the eventual outcome. At the moment DB is expecting 25bps but with market pricing where it is (41bps priced in and up 3-4bps overnight), and if no Fed leaks push us back towards 25bps over the course of the next 12-24 hours, our economists could easily move to a 50bps today as they don’t think the Fed will want to surprise the market too much on the day. We will see. As important as the 25 vs 50 debate will be the communication from the Fed. Would a 50bps be the start of 50s or a one off larger move to start the cycle? Would a 25bps mean the bar for subsequent 50s is high? There will be lots to digest.

It will be difficult to deviate the messaging too far away from the latest updated Summary of Economic Projections (SEP) and dot plots though. So in many ways that constrains the messaging unless we see large changes. Our economists think the Fed’s growth forecasts are likely to be little changed but the median core PCE inflation forecast could fall by a tenth or two. They believe the unemployment rate forecast will move higher this year – likely into the 4.3-4.4% range – but be mostly unchanged in subsequent years. If the Fed cuts by 25bps on Wednesday, they would expect a median of 75bps of cuts this year and if they cut by 50bps, they would expect the SEP to reflect 100bps of cuts through year-end.

Outside of the Fed the main highlights are tomorrow’s US retail sales and industrial production, Wednesday’s US housing starts and permits and UK inflation, Thursday’s Bank of England decision (DB expect unchanged, see preview here), US existing home sales and initial jobless claims, and Friday sees the BoJ meeting (DB preview here, view is for unchanged), China decide on 1 and 5-yr prime rates, Japan’s CPI, and German PPI.

Over the weekend, China’s latest monthly data dump was weaker than expected across the board. Industrial Production (4.5% vs. 4.7% expected), Retail Sales (2.1% vs. 2.5% expected), the Jobless rate (5.3% vs. 5.2% expected) and Fixed Asset Investment (3.4% vs. 3.5% expected) were all soft alongside slightly lower than expected new and used home prices. Our economists have downgraded their GDP forecasts and believe YoY growth likely slipped to 3.7% in August from 4.6% in July.
We can’t see the immediate market response as mainland Chinese markets (and South Korean) are closed until Wednesday with markets in Japan also closed today for a holiday. The Hang Seng opened -0.76% lower but has rallied back to -0.29% as I type. US equity futures are fairly flat and Treasuries aren’t trading due to the Japanese holiday.

Another big story to break last night was what the FBI are calling a second assassination attempt on former President Donald Trump at his Florida golf course. This may steer the campaign in a different direction again over the next few days.

Recapping last week now, markets put in a very strong performance, with risk assets recovering the bulk of their losses from the previous week. Initially, that was driven by growing optimism about the economic outlook, with fears diminishing about a potential downturn in the US. Then by the end of the week, markets got a further boost as the prospect of a 50bp Fed rate cut this month came back into view, which provided a fresh uplift for equities and bonds. In many respects, it was the best of both worlds from a near-term market perspective, as the perceived likelihood of a 50bp rate cut went up, but unlike in early August, it wasn’t because of negative data surprises.

For equities, this was a very good combination, and the S&P 500 advanced every day last week to gain +4.02% (+0.54% Friday), leaving the index less than 1% beneath its all-time high from mid-July. Tech stocks helped to drive the gains, and the NASDAQ advanced +5.95% (+0.65% Friday). For both indices, this was their best weekly performance of 2024 so far. There were more modest equity gains around the world, with Europe’s STOXX 600 up +1.85% (+0.76% Friday), and Japan’s Nikkei up +0.52% (-0.68% Friday). However, Chinese equities underperformed, and the CSI 300 fell -2.23% last week (-0.42% Friday) to close at its lowest level since January 2019.

The growing prospect of a 50bp rate cut, which was 49% priced by the end of the week, was also very good for sovereign bonds. For instance, the 2yr Treasury yield was down another -6.5bps last week (-5.8bps Friday) to 3.58%, whilst the 10yr yield was down -5.7bps (-2.2bps Friday) to 3.65%, its lowest weekly close since May 2023. Illustrating a more dovish market perception of the Fed’s reaction function, the decline was even more noticeable for real yields, and the US 10yr real yield fell -10.3bps last week (-4.0bps Friday) to 1.57%. Meanwhile in Europe, sovereign bond yields fell slightly last week, with the 10yr bund yield down -2.3bps (-0.2bps Friday) to 2.15%.

Finally, it was an eventful week for oil prices, with Brent crude closing beneath $70/bbl on Tuesday for the first time since December 2021. But over the week as a whole, it was actually up by +0.77% (-0.50% Friday) to close at $71.61/bbl. Those gains were echoed across other commodities, and gold prices closed at an all-time high in nominal terms of $2,578/oz, having risen by +3.21% over the week (+1.06% Friday).

2B) European report

Equities are mixed, USD pressured as the odds of 50bps tick up – Newsquawk US Market Open

Monday, Sep 16, 2024 – 06:26 AM

• European equities are mixed/flat, US equity futures edge slightly higher, though the RTY +0.8% outperforms
• Dollar continues to edge lower as markets weigh up the magnitude of the looming Fed cut, G10s gain vs the Dollar, USD/JPY slips below 140
• After last week’s late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
• Bonds are incrementally firmer but with trade rangebound awaiting speak from ECB’s Lane
• Crude is slightly firmer benefiting from the softer Dollar, XAU and base metals gain
• Looking ahead, NY Fed Manufacturing, Canadian Manufacturing Sales, Comments from ECB’s Lane

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EUROPEAN TRADE

EQUITIES

• European bourses, Stoxx 600 (U/C) began the session almost entirely in the red, albeit modestly so. As the morning progressed, sentiment gradually improved and now displays more of a mixed picture.
• European sectors hold a negative bias; Retail takes the top spot alongside Consumer Products whilst Basic Resources lags, largely a factor of the poor Chinese data over the weekend.
• US Equity Futures (ES +0.1%, NQ U/C, RTY +0.1%) are indicative of a flat/slightly firmer open, ahead of the FOMC Policy Announcement on Wednesday.
• Intel (+3.5%) gains after the Co. reached a deal to make chips for the US military; a deal worth as much as USD 3.5bln.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY has extended the slump seen since last Thursday with the dovish Fed repricing the main catalyst. Markets now assign a circa 59% chance of a 50bps reduction this week compared to 15% post-CPI last week. The next target for DXY comes via the YTD trough at 100.51.
• EUR/USD is back above 1.11 thanks to the softer USD. EUR/USD is now eyeing the post-payrolls peak from September 6th at 1.1155 with the YTD high at 1.1201.
• GBP is firmer vs. the USD but flat against the EUR heading into the BoE on Thursday. Expectations are for an unchanged rate with a 7-2 vote split (dovish dissent expected from Dhingra and most likely Ramsden). Attention for Cable is on a test of 1.32; not breached since 6th September.
• JPY is the best performer across the majors as further dovish Fed repricing stands in contrast to a hawkish BoJ. USD/JPY has slipped below 140 for the first time since July 2023.
• Both antipodes are firmer vs. the USD and able to overlook the soft Chinese trade data overnight. AUD/USD has been able to undo much of the downside seen late last week with the current session high of 0.6736.
• CAD is a touch firmer vs. the USD but less so than peers following an interview in the FT with BoC Governor Macklem who signalled that the Bank could increase the size of rate cuts from 25bps to 50bps on account of softening labour market data and weakening crude prices.
• CNH is marginally firmer vs. the USD as the broadly softer dollar overshadows the negative follow-through from further soft Chinese metrics over the weekend.
• Bank of Canada Governor Macklem opened the door to increasing the pace of rate cuts as growth fears mount, according to FT.
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• USTs are relatively contained as markets count down to this week’s FOMC policy announcement, as it stands market pricing has the odds of a 50bps cut at around 60% and a 25bps move at 40%. Despite the shift in pricing, USTs themselves are essentially unchanged at 115-15 in a thin five tick range.
• Bunds are incrementally firmer and towards the midpoint of 134.71-97 parameters. Holding within Friday’s 134.62-135.19 range. The main focus point for the bloc is a speech from ECB’s Lane at 13:00BST / 08:00 EDT, a text is expected.
• Gilts are also slightly higher and holding around 20 ticks above the 101.00 mark and just off a 101.30 session peak. For the UK, the week’s focus point is the BoE on Thursday (exp. to hold, 7-2 split possible).
• Click for a detailed summary

COMMODITIES

• Crude is modestly firmer intraday amid the softer Dollar but despite the downbeat Chinese data over the weekend which reinforced the theme of an ailing Chinese economy following the Chinese inflation and trade balance figures in the week prior. Brent November trades within 71.52-72.39/bbl.
• Precious metals are firmer across the board amid the softer Dollar and with added optimism for precious metals as spot gold continues printing fresh all-time highs, with today’s parameter between USD 2,577.59-2,589.72/oz.
• Mixed trade across base metals with copper on a softer footing following the sub-par Chinese data. 3M LME copper resides in the middle of a 9,219.50-9,291.50/t range.
• UBS cuts Q4 2024 Brent price forecast to USD 75/bbl from USD 83/bbl; Cuts 2024 Brent forecast by USD 4/bbl to USD 80/bbl
• Almost a fifth of US Gulf of Mexico crude oil production remained offline and nearly 28% of natural gas production was shut-in in the aftermath of Francine on Sunday, according to the US offshore energy regulator cited by Reuters.
• BP (BP/ LN) is restarting operations at its Castrol lubricants facility in Port Allen, Louisiana after determining conditions are safe to return and Shell (SHEL LN) is ramping up production at Perdido following the resolution of downstream issues, according to Reuters.
• Chevron (CVX) said its US Gulf of Mexico Jack/St Malo and Big Foot platforms are producing at reduced rates due to onshore gas plant disruption, while it continues to return workers and restore oil production at the US Gulf of Mexico Anchor and Tahiti platforms shut-in by Francine with initial assessments showed that neither the Anchor nor Tahiti platforms suffered significant damage, according to Reuters.
• ANZ expects gold to reach USD 2,900/oz by end of 2025 (current spot price USD 2,587.50/oz).
• Click for a detailed summary

NOTABLE DATA RECAP

• EU Labour Costs YY (Q2) 4.7% (Prev. 5.1%, Rev. 5.0%); Wages In Euro Zone (Q2) 4.5% (Prev. 5.3%, Rev. 5.2%); Eurostat Trade NSA, Eur (Jul) 21.2B EU (Prev. 22.3B EU)
• UK Rightmove House Price Index MM (Sep) 0.8% (Prev. -1.5%); YY (Sep) 1.2% (Prev. 0.8%)
• Italian Consumer Prices Final MM (Aug) 0.2% vs. Exp. 0.2% (Prev. 0.2%); CPI (EU Norm) Final YY (Aug) 1.2% vs. Exp. 1.3% (Prev. 1.3%); CPI (EU Norm) Final MM (Aug) -0.2% vs. Exp. -0.1% (Prev. -0.1%); Consumer Prices Final YY (Aug) 1.1% vs. Exp. 1.1% (Prev. 1.1%)
• Italian Trade Balance EU (Jul) 0.642B EU (Prev. -1.045B EU); Global Trade Balance (Jul) 6.743B EU (Prev. 5.065B EU)

NOTABLE EUROPEAN HEADLINES

• ECB’s de Guindos says ECB projections show that inflation by 2025-end will hover around 2% target. Inflation in services is still resisting, this remains the ECB’s main concern. ECB expects a significant slowdown in growth of labour costs next year. ECB wants to keep all options open when it comes to interest rate decisions. The ECB’s balance sheet is expected to decrease by around EUR 40bln per month.
• ECB’s Kazimir says the ECB will almost surely have to wait until December for the next rate cut; it would take a significant shift in outlook for ECB to cut in October; very little new info in the pipeline before October meeting. There is no rush to cut rates, safest to wait for the outlook to become clearer.
• UK Chancellor Reeves was advised by a group of leading economists that cutting public investment in the UK would damage the foundations of the economy, according to FT.

NOTABLE US HEADLINES

• Multiple shots were fired near former President Trump’s golf course in West Palm Beach and the Secret Service reportedly opened fire at a suspected person with a weapon while Trump was golfing, according to law enforcement sources cited by AP. Trump’s campaign said the former President is safe following a shooting in his vicinity, while Trump said he will never give up and nothing will stop him. Furthermore, the FBI said it is investigating what appears to be an assassination attempt and a Palm Beach law enforcement official said the suspect was arrested and that they found an AK-47 type weapon.
• WSJ opinion piece by Greg Ip noted that the Fed’s rate decision this week looks more difficult than it should be and the real question isn’t how much to cut, but where rates ought to be, while it added that the answer is much lower which argues for a half-point cut.

GEOPOLITICS

MIDDLE EAST

• Sirens sounded in Avivim in the Upper Galilee to warn of rocket launches, according to Al Jazeera.
• Yemen’s Houthis claimed responsibility for a missile attack on central Israel and stated that a Yemeni missile reached Israel after 20 missiles failed to intercept it. There were separate reports that Israel’s military announced sirens were set off by a missile which crossed into the country from the east and fell in an open area but caused no casualties.
• Israeli PM Netanyahu said Yemen’s Houthis should know that they will exact a heavy price for every attempt to harm Israel and noted that a missile fired from Yemen most likely fragmented in mid-air, while he also said the current situation in northern Israel will not continue.
• Houthis said they downed a US drone over Dhamar

OTHER

• Russia’s Medvedev said Russia already has formal grounds to use nuclear weapons but has so far chosen not to do so, while their patience has its limits and their response might come in non-nuclear form.
• Russia’s Deputy Foreign Minister said Moscow is aware that the West decided on whether to allow Ukraine to strike deep within Russia and that Moscow should use other means since verbal warnings to the West against escalation are not working, according to TASS.
• G7 Foreign Ministers condemned in the strongest terms Iran’s export and Russia’s procurement of Iranian ballistic missiles, while they called for Iran to immediately cease all support to Russia’s illegal war against Ukraine and halt such transfers of ballistic missiles, according to Reuters.
• Ukrainian President Zelensky said Ukraine brought home 103 POWs from Russia in a second swap in two days and noted the incursion into Kursk helped bring about a prisoner exchange with Russia.
• Ukrainian spy chief Budanov said North Korea’s artillery supplies to Russia are a major problem and have a visible battlefield impact. Budanov said that Russia has ramped up production of Iskander ballistic missiles and guided bombs, as well as commented that Russia expects to face recruitment problems in the summer of 2025.
• US National Security Adviser Sullivan said long-range weapons permission is the subject of intense consultations among allies and that fighting around Ukraine’s Pokrovsk is of unique concern, while the US is preparing to present a substantial Ukraine aid package this month.
• US military member was detained in Venezuela and it was also reported that two additional US citizens were detained, according to a State Department spokesperson cited by Reuters.
• Russian and Chinese warships practiced missile and artillery firing in the Sea of Japan as part of Ocean-2024 drills, according to RIA.
• China’s military said the transit of two German warships in the Taiwan Strait increased security risks and sent a wrong signal. China’s military also stated that Chinese troops are always on high alert and ready to counter all threats and provocations.
• China’s Coast Guard said Philippine vessel 9701 withdrew from the Sabina Shoal on September 14th which ‘illegally’ stayed there for nearly five months, while it added that China took measures against the Philippine vessel in accordance with the law and the Philippines’ repeated attempts to organise supple replenishment to the vessel had all failed. However, the Philippines said it would send another vessel to immediately takeover from the vessel in the disputed Spratlys.

CRYPTO

• Bitcoin slips and holds around USD 58.5k, whilst Ethereum sees losses to a slightly higher magnitude, down to around USD 2.3k.

APAC TRADE

• APAC stocks were mixed amid the holiday-thinned conditions with many key markets in the region closed and as participants braced for this week’s central bank announcements including from the FOMC, BoE and BoJ.
• ASX 200 mildly gained as real estate and financials led the advances across most sectors aside from defensives.
• Hang Seng was dragged lower amid the absence of mainland participants and with underperformance seen in property developers after Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.

NOTABLE ASIA-PAC HEADLINES

• China is strongly dissatisfied with and firmly opposes the US locking in tariff hikes on Chinese imports. Furthermore, China urges the US to immediately correct its ‘wrongdoings’ and lift all tariffs imposed on Chinese goods, while China will take necessary measures to firmly safeguard the interests of Chinese firms, according to MOFCOM.
• China Stats Bureau spokesperson said China will step up macro policy adjustments, while they expect a mild rebound in the consumer price index and for quickening bond issuance and policy initiatives to support China’s investment growth.

DATA RECAP

• Chinese Industrial Output YY (Aug) 4.5% vs. Exp. 4.8% (Prev. 5.1%)
• Chinese Retail Sales YY (Aug) 2.1% vs. Exp. 2.5% (Prev. 2.7%)
• Chinese Urban Investment YTD YY (Aug) 3.4% vs. Exp. 3.5% (Prev. 3.6%)
• Chinese House Prices YY (Aug) -5.3% (Prev. -5.0%)

2C ASIAN REPORT.

Mixed trade with Chinese data in focus into a packed week incl. FOMC & BoJ – Newsquawk Europe Market Open

Monday, Sep 16, 2024 – 01:34 AM

• APAC stocks were mixed amid the holiday-thinned conditions and as participants braced for this week’s central bank announcements including from the FOMC, BoE and BoJ.
• Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.
• After last week’s late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
• European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed higher by 0.6% on Friday.
• DXY is on the backfoot and back below the 101 mark, EUR/USD sits around the 1.11 level, JPY is the biggest gainer vs. the USD.
• Looking ahead, highlights include EZ Labour Costs/Wages, NY Fed Manufacturing, Canadian Manufacturing Sales, ECB Survey of Monetary Analysts, Comments from ECB’s de Guindos & Lane.

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US TRADE

EQUITIES

• US stocks were bid throughout Friday’s session with outperformance in the small caps Russell 2k and all sectors closed in the green with Utilities, Communication and Materials the best performers although Health Care, Real Estate and Financials lagged, while T-Notes bull steepened as traders increased bets for a 50bp rate cut at the upcoming Fed meeting with money markets pricing the decision at a near coin toss.
• SPX +0.54% at 5,626, NDX +0.47% at 19,515, DJIA +0.72% at 41,394, RUT +2.49% at 2,182.
• Click here for a detailed summary.

NOTABLE HEADLINES

• Multiple shots were fired near former President Trump’s golf course in West Palm Beach and the Secret Service reportedly opened fire at a suspected person with a weapon while Trump was golfing, according to law enforcement sources cited by AP. Trump’s campaign said the former President is safe following a shooting in his vicinity, while Trump said he will never give up and nothing will stop him. Furthermore, the FBI said it is investigating what appears to be an assassination attempt and a Palm Beach law enforcement official said the suspect was arrested and that they found an AK-47 type weapon.
• Goldman Sachs still sees 25bps of Fed easing this week and for each remaining meeting this year, while JPMorgan reiterated its call for a 50bp Fed rate cut in September.
• WSJ opinion piece by Greg Ip noted that the Fed’s rate decision this week looks more difficult than it should be and the real question isn’t how much to cut, but where rates ought to be, while it added that the answer is much lower which argues for a half-point cut.

APAC TRADE

EQUITIES

• APAC stocks were mixed amid the holiday-thinned conditions with many key markets in the region closed and as participants braced for this week’s central bank announcements including from the FOMC, BoE and BoJ.
• ASX 200 mildly gained as real estate and financials led the advances across most sectors aside from defensives.
• Hang Seng was dragged lower amid the absence of mainland participants and with underperformance seen in property developers after Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.
• US equity futures (ES +0.1%) took a breather after rallying on Friday as markets priced increased odds for an incoming 50bps Fed rate cut.
• European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed higher by 0.6% on Friday.

FX

• DXY dipped below 101.00 ahead of the FOMC and as participants second-guessed the magnitude of a looming Fed rate cut.
• EUR/USD edged mild gains and eventually retested the 1.1100 level which has provided some resistance.
• GBP/USD was slightly firmer although further upside was limited with a BoE meeting also scheduled later this week.
• USD/JPY remained subdued after last week’s retreat and with Japanese participants away for Respect for the Aged Day.
• Antipodeans were initially rangebound following the disappointing data releases from China, but later took advantage of the softer buck.
• Bank of Canada Governor Macklem opened the door to increasing the pace of rate cuts as growth fears mount, according to FT.

FIXED INCOME

• 10yr UST futures traded little changed as money markets pointed to a near-coin flip between a 25bps or 50bps rate cut by the Fed and with overnight treasury cash trade is shut owing to the holiday closure in Tokyo.
• Bund futures kept within a relatively tight range amid a lack of pertinent drivers.

COMMODITIES

• Crude futures were little changed after Friday’s pullback and as output shut-in at the Gulf of Mexico gradually returned post-Francine.
• Almost a fifth of US Gulf of Mexico crude oil production remained offline and nearly 28% of natural gas production was shut-in in the aftermath of Francine on Sunday, according to the US offshore energy regulator cited by Reuters.
• BP (BP/ LN) is restarting operations at its Castrol lubricants facility in Port Allen, Louisiana after determining conditions are safe to return and Shell (SHEL LN) is ramping up production at Perdido following the resolution of downstream issues, according to Reuters.
• Chevron (CVX) said its US Gulf of Mexico Jack/St Malo and Big Foot platforms are producing at reduced rates due to onshore gas plant disruption, while it continues to return workers and restore oil production at the US Gulf of Mexico Anchor and Tahiti platforms shut-in by Francine with initial assessments showed that neither the Anchor nor Tahiti platforms suffered significant damage, according to Reuters.
• Spot gold marginally extended on all-time highs ahead of this week’s widely expected Fed rate cut.
• Copper futures suffered mild losses after disappointing Chinese data and with its largest buyer on a 4-day weekend although prices are off intraday lows.

CRYPTO

• Bitcoin was pressured and steadily retreated to beneath the USD 59,000 level.

NOTABLE ASIA-PAC HEADLINES

• China is strongly dissatisfied with and firmly opposes the US locking in tariff hikes on Chinese imports. Furthermore, China urges the US to immediately correct its ‘wrongdoings’ and lift all tariffs imposed on Chinese goods, while China will take necessary measures to firmly safeguard the interests of Chinese firms, according to MOFCOM.
• China Stats Bureau spokesperson said China will step up macro policy adjustments, while they expect a mild rebound in the consumer price index and for quickening bond issuance and policy initiatives to support China’s investment growth.

DATA RECAP

• Chinese Industrial Output YY (Aug) 4.5% vs. Exp. 4.8% (Prev. 5.1%)
• Chinese Retail Sales YY (Aug) 2.1% vs. Exp. 2.5% (Prev. 2.7%)
• Chinese Urban Investment YTD YY (Aug) 3.4% vs. Exp. 3.5% (Prev. 3.6%)
• Chinese House Prices YY (Aug) -5.3% (Prev. -5.0%)

GEOPOLITICS

MIDDLE EAST

• Sirens sounded in Avivim in the Upper Galilee to warn of rocket launches, according to Al Jazeera.
• Yemen’s Houthis claimed responsibility for a missile attack on central Israel and stated that a Yemeni missile reached Israel after 20 missiles failed to intercept it. There were separate reports that Israel’s military announced sirens were set off by a missile which crossed into the country from the east and fell in an open area but caused no casualties.
• Israeli PM Netanyahu said Yemen’s Houthis should know that they will exact a heavy price for every attempt to harm Israel and noted that a missile fired from Yemen most likely fragmented in mid-air, while he also said the current situation in northern Israel will not continue.

OTHER

• Russia’s Medvedev said Russia already has formal grounds to use nuclear weapons but has so far chosen not to do so, while their patience has its limits and their response might come in non-nuclear form.
• Russia’s Deputy Foreign Minister said Moscow is aware that the West decided on whether to allow Ukraine to strike deep within Russia and that Moscow should use other means since verbal warnings to the West against escalation are not working, according to TASS.
• G7 Foreign Ministers condemned in the strongest terms Iran’s export and Russia’s procurement of Iranian ballistic missiles, while they called for Iran to immediately cease all support to Russia’s illegal war against Ukraine and halt such transfers of ballistic missiles, according to Reuters.
• Ukrainian President Zelensky said Ukraine brought home 103 POWs from Russia in a second swap in two days and noted the incursion into Kursk helped bring about a prisoner exchange with Russia.
• Ukrainian spy chief Budanov said North Korea’s artillery supplies to Russia are a major problem and have a visible battlefield impact. Budanov said that Russia has ramped up production of Iskander ballistic missiles and guided bombs, as well as commented that Russia expects to face recruitment problems in the summer of 2025.
• US National Security Adviser Sullivan said long-range weapons permission is the subject of intense consultations among allies and that fighting around Ukraine’s Pokrovsk is of unique concern, while the US is preparing to present a substantial Ukraine aid package this month.
• US military member was detained in Venezuela and it was also reported that two additional US citizens were detained, according to a State Department spokesperson cited by Reuters.
• Russian and Chinese warships practiced missile and artillery firing in the Sea of Japan as part of Ocean-2024 drills, according to RIA.
• China’s military said the transit of two German warships in the Taiwan Strait increased security risks and sent a wrong signal. China’s military also stated that Chinese troops are always on high alert and ready to counter all threats and provocations.
• China’s Coast Guard said Philippine vessel 9701 withdrew from the Sabina Shoal on September 14th which ‘illegally’ stayed there for nearly five months, while it added that China took measures against the Philippine vessel in accordance with the law and the Philippines’ repeated attempts to organise supple replenishment to the vessel had all failed. However, the Philippines said it would send another vessel to immediately takeover from the vessel in the disputed Spratlys.

EU/UK

NOTABLE HEADLINES

• UK Chancellor Reeves was advised by a group of leading economists that cutting public investment in the UK would damage the foundations of the economy, according to FT.
• ECB’s Makhlouf said on Friday that the ECB is not pre-committing to a particular rate path.

DATA RECAP

• UK Rightmove House Price Index MM (Sep) 0.8% (Prev. -1.5%)
• UK Rightmove House Price Index YY (Sep) 1.2% (Prev. 0.8%)

3 CHINA

CHINA/USA

END

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

UK

stupid move!

UK High Court Revokes Permit For First Coal Mine In 30 Years

by Tyler Durden

Monday, Sep 16, 2024 – 06:30 AM

Authored by Tsvetana Paraskova via OilPrice.com,

London’s High Court on Friday quashed a planning permission for the UK’s first new coal mine in three decades, ruling that the permit was unlawful as it hadn’t considered the emissions from burning the fuel. 

Earlier this year, climate campaigners, including Friends of the Earth, challenged the approval of the coal mining project.

The UK’s previous Conservative government approved in December 2022 the Woodhouse Colliery project in Whitehaven, northwest England, developed by West Cumbria Mining.  

The project to mine metallurgical coal, the one used for steelmaking, will be required to support steelmaking throughout the transition to Net Zero over the next few decades, WCM said at the end of 2023.

However, the new Labour government in the UK pulled in July its support for the project and said that it would no longer defend the case at High Court.

The UK’s new Secretary of State for Housing, Communities and Local Government, Angela Rayner, has accepted there was an “error of law” in the approval from December 2022. 

The government’s move to drop its defense of the project follows a landmark Supreme Court judgment from June 2024, which ruled that a local council unlawfully granted approval to an onshore oil drilling project as planners must have considered the emissions from the oil’s future use as fuels, in a landmark case that could upset new UK fossil fuel projects.

Today the High Court agreed with the legal challenges that the lifetime emissions of the proposed Whitehaven mine, mostly from burning coal, were not properly considered and the approval was unlawful. 

“We have to leave fossil fuels in the ground and build the cleaner, brighter future that will slash emissions, cut bills and create the well-paid jobs of tomorrow that areas like West Cumbria so urgently need,” said Niall Toru, senior lawyer at Friends of the Earth.  

END

SWEDEN/,MIGRANTS

Sweden is to pay 31,000 Euros to migrants who failed to integrate and thus return to their home country.

(Remix)

Sweden To Pay Migrants Who’ve Failed To Integrate Nearly €31,000 To Return Home

Monday, Sep 16, 2024 – 02:00 AM

By Thomas Brooke of Remix.news

Sweden has announced plans to pay migrants 350,000 SEK (€30,809) to return to their homeland in a new voluntary remigration scheme proposed by the center-right government.

Remix News was one of few English-language sites to report on the plans proposed last month by then Migration Minister Maria Stenergard and reviewed by the Swedish justice ministry.

“For those who have not entered Swedish society, remigration can be a way to create a better life for themselves,” Stenergard said at the time.

“This is one of several ways we achieve sustainable immigration that strengthens integration and reduces exclusion,” she added.

This week, Stenergard was appointed the new foreign secretary and succeeded by Johan Forssell who announced the new policy on Thursday.

“Migrants who voluntarily return to their home countries from 2026 onwards will be eligible to receive 350,000 Swedish kronor (€31,000),” he said. Even those with Swedish citizenship will be eligible.

Forssell, whose appointment was backed by the right-wing Sweden Democrats who influence government policy, said upon starting his new role that the government must commit to remigration and abandon the open borders policies of the previous liberal administrations.

“The important thing now is that we should not return to the previous policy, which after all put Sweden in a very difficult situation. A lot of people were affected by it,” he told Aftonbladet.

“It is clear that it is an important issue for Sweden and for this government,” he added.

The country, previously lauded as a migrant magnet and known for its hospitality, has cracked down on the number of new arrivals permitted after a radical cultural shift across the country that has seen crime and particularly gang warfare skyrocket.”

Sweden isn’t the first European nation to give migrants a golden handshake upon leaving the bloc. Last month in Germany, convicted criminals including child rapists were handed €1,000 upon their flight back to Afghanistan, although these, however, were forced deportations and only amounted to 28 people.

Earlier this year, the Swedish government announced it was toughening up its family reunification laws to slash immigration with income requirements expected to increase and extra DNA testing to prove relations is likely to be rolled out.

Last month, Stockholm announced that for the first time in 50 years the country had seen net emigration over the past 12 months. These figures were contested, however, by some right-wing groups with some claiming the government has ramped up naturalizations to massage the figures.

Continue reading at remix.news

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

END

ISRAEL/SYRIA/IRAN

ISRAEL/HOUTHIS

Netanyahu: Israel to exact heavy price from Houthis for attack

PM: “We are in a multi-front campaign against Iran’s evil axis that strives to destroy us. Anyone who attacks us will not escape.”

By TOVAH LAZAROFFSEPTEMBER 15, 2024 13:53Updated: SEPTEMBER 15, 2024 14:18

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-news%2Farticle-820174&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Prime Minister Benjamin Netanyahu pledged to exact a heavy price from the Houthis for its missile attack against central Israel on Sunday.

“This morning, the Houthis launched a surface-to-surface missile from Yemen into our territory,” Netanyahu told his government during its weekly meeting. 

“They should have known by now that we exact a heavy price for any attempt to harm us,” he stated.

“Those who need a reminder in this matter are invited to visit the port of Hodeidah,” Netanyahu said in a reference to an Israeli reprisal attack in July.

“Anyone who attacks us will not escape,” Netanyahu said, explaining that Hamas has already learned this.

From Yemen to Israel in under 15 minutes

Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that traveled 2,040 km (1270 miles) in just 11 1/2 minutes. Israel’s military said the missile fell in an open area, and nobody was hurt.

Reuters saw smoke billowing in an open field in central Israel, though it was not immediately possible to determine if the missile or interceptor debris caused the fire.

The Houthis, an Iranian proxy group, have fired missiles at Israel repeatedly in what they say is solidarity with the Palestinians since the Gaza war began with a Hamas attack on Israel on October 7.

Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.

Apart from missiles, the Houthis have also attacked Israel with drones, including one that hit Tel Aviv for the first time in July, killing a man and wounding four people. That attack prompted Israeli air strikes on Houthi military targets near the port of Hodeidah that killed six and wounded 80.

---

---

Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.

The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning.”

The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.

“No injuries were reported,” the military said.

The Houthi attack is part of the multi-front war Israel is fighting with Iranian proxy groups, including Hamas in Gaza and Hezbollah along its northern border.

Netanyahu told the government, “We are in a multi-front campaign against Iran’s evil axis that strives to destroy us.”

He pledged to return the 101 hostages in Gaza. Concerning the north, where there has been a cross-border IDF-Hezbollah war since October 8, he pledged that the residents who have been evacuated since then would return home and that “the status quo would not continue.”

“This requires a change in the balance of power on our northern border. We will do everything necessary to return our residents safely to their homes.

‘I am committed to it, the government is committed to it, and we will not settle for less than that,” he said.

END

Houthis say ‘new hypersonic ballistic missile’ launched at Israel, vows more attacks

The Iranian proxy group claimed that “Israel should anticipate more attacks in the weeks leading up” to the October 7 massacre.

By JERUSALEM POST STAFFSEPTEMBER 15, 2024 11:02Updated: SEPTEMBER 15, 2024 13:15

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-820146&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Yemen’s Houthis claimed responsibility for the attack that reached central Israel for the first time on Sunday, saying the group employed a “new hypersonic ballistic missile” in a “specific military operation” targeting the Tel Aviv area, in a statement from the group’s military spokesperson.

The Iranian proxy falsely added that Israel had failed to intercept the missile. While the IDF’s Arrow system failed to bring the missile down before entering Israeli airspace, it did ultimately intercept it.

“It crossed a distance of 2,040 km in 11 and a half minutes and caused a state of fear and panic among the Zionists, as more than two million Zionists headed to shelters for the first time in the history of the Israeli enemy,” the military spokesperson added.

The spokesperson continued saying that the attack came as the result of the group’s efforts in developing missile technologies capable of bypassing naval, ground, and aerial interception systems.

“The geographical challenges, the American-British aggression, and the monitoring, espionage, and interception systems will not prevent beloved Yemen from performing its religious, moral, and humanitarian duty in solidarity with the Palestinian people,” the statement added.

More attacks to come, spokesperson says

The spokesperson affirmed that Israel should anticipate more attacks in the weeks leading up to the anniversary of “the blessed October 7 operation,” when Hamas and Gazan civilians infiltrated Israeli territory, massacred some 1200 people, and took more than 250 people hostage.

The attacks that the Houthis would launch, the spokesperson said, would come in support of the Palestinian people and as a response to the Israel Air Force’s July operation, which saw the IAF target Houthi infrastructure in the Yemeni port city of Hodeidah.

END

How did a Houthi missile evade Israeli and American hi-tech radar? – analysis

It is still unclear whether the missile was detected in time and why the Arrow system did not intercept it as planned.

By UDI EZIONSEPTEMBER 15, 2024 10:49Updated: SEPTEMBER 15, 2024 13:00

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-820142&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

A Houthi missile seemingly evaded Israel’s advanced detection systems on Sunday morning. Despite advanced systems, it wasn’t until the missile was over Israeli airspace that it was finally brought down, raising questions about potential failures in the security systems in place.

The Houthis do not have their own ballistic missile industry. Their entire stock comes from Iran. What is known in Yemen as “Tufan” is essentially the Iranian Ghadir missile, itself a development of the Shahab-3. For 25 years, the Arrow system has been developed and upgraded to be capable of intercepting it.

This missile has a range of about 2,000 km, enough to cover the distance from Yemen to Israel. The missile is transported from its storage site by truck to the launch site, where it is assembled. The missile’s target is predetermined and cannot alter its course or correct it during flight. In contrast to the Shahab, the preparations for its launch, mainly filling the first stage with fuel, take only about 30 minutes instead of several hours.

The missile is launched vertically and follows a ballistic trajectory, meaning it travels in an arc or semi-circle. It flies through the atmosphere with its engine still running, propelling it forward. During flight, the first stage separates, and the second stage re-enters from the atmosphere after exhausting its fuel, continuing to accelerate due to gravity.

Maximum 15 minutes from Yemen to Israel

From northern Yemen, the missile requires only 12-15 minutes to reach central Israel. Its pre-launch weight is estimated at 15-17 tons, but the warhead itself weighs about 650 kg, a significant explosive charge that, combined with its impact speed, can cause severe damage to civilian and also lightly protected military structures.

There are several stages of detection for such a missile, which appear to have malfunctioned this morning. When the missile is erected for launch, it is in an open area and visible to Israeli and American reconnaissance satellites, which are supposed to monitor potential launch sites.

When the missile is launched, the intense heat generated by its engine is detected by the American missile warning satellite network, and the information is supposed to be relayed to the IDF.

Several radar systems are supposed to detect and track the missile when it is already on its trajectory toward Israel.

These include radar from the American and Israeli navy in the Red Sea, the long-range X-band radar produced by Raytheon and located in the Negev, operated by American troops, and finally, the Arrow system radar.

It is still unclear whether the missile was detected in time and why it was not intercepted by the Arrow system as planned.

ISRAEL /LEBANON/HEZBOLLAH

Hezbollah unleashes massive rocket barrages on North after overnight attacks

Fires erupted in northern Israel’s after two rocket barrages pour over the border.

By SAM HALPERNSEPTEMBER 14, 2024 08:37Updated: SEPTEMBER 14, 2024 22:29

https://player.jpost.com/public/player.html?player=jpost&media=3769361&url=https://www.jpost.com/breaking-news/article-820052IAF strikes launchers in southern Lebanon after Hezbollah attacks northern Israel on September 14, 2024. (IDF SPOKESPERSON’S UNIT)

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-820052&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF’s aerial defense array intercepted rockets during two separate Saturday morning barrages, in which Hezbollah fired a total of over 55 rockets into Israeli territory from Lebanon, the military stated.

Earlier, at 8:17 a.m., rocket sirens sounded in a number of Israeli cities and towns in the North, including Safed, Dishon, Malkiya, Hukok, and Kahal.

The IDF later confirmed that during this earlier barrage, some 20 rockets crossed from Lebanon into Israel.

A second, approximately 35-rocket barrage was identified during a second round of sirens that blared at around 9:00 a.m. in Elifelet, Dishon, Rosh Pina, and other locales in the Upper Galilee.

While the IDF affirmed that it had intercepted some of the rockets during both barrages, those that were not intercepted reportedly fell into open areas.

No injuries were reported as a result of the attacks.

Fires break out in open areas

Following drone intrusion alert sirens in Kiryat Shmona and Margaliot, two drones were seen crossing from Lebanon and falling in an open area north of the city, the IDF reported Saturday evening.

In response to the rocket attacks on the Upper Galilee, the IDF said that Israel Air Force aircraft struck the launcher from which the rockets had been fired at Israel. Further, the IAF struck additional targets in southern Lebanon.

Israeli aircraft also struck the launcher that had fired rockets at Israel’s North during the night as well as a Hezbollah structure in the Kfar Remen area of southern Lebanon, the military added.

Army Radio later reported that Hezbollah’s attacks came as a response to an Israeli strike on one of the terror organization’s command facilities, which was embedded in a building in Nabatiya, in southern Lebanon.

---

---

A number of individuals were reportedly killed and wounded during the Israeli strike.

In a later statement, Hezbollah claimed responsibility for the attacks, claiming it had launched dozens of Katyusha rockets into Israel in support of the Gazan people and Hamas.

https://player.jpost.com/public/player.html?player=jpost&media=3769372&url=www.jpost.comIAF strikes Hezbollah terrorists in a military structure in southern Lebanon on September 14, 2024. (IDF SPOKESPERSON’S UNIT)

On Saturday afternoon, the IDF released an update stating that the IAF had struck more Hezbollah terrorists operating a structure in the area of Blida in southern Lebanon.

In conjunction, Israeli artillery fired on a target in the Ayta ash Shab area as well, the military added.

END 

ISRAEL/WESTBANK

end

ISRAEL/HAMAS

IDF targets last Hamas strongholds in Tel al-Sultan, uncovers weapons and tunnels

The Tel al-Sultan battalion was a major part of Hamas’s Rafah Brigade.

By JERUSALEM POST STAFFSEPTEMBER 14, 2024 18:57Updated: SEPTEMBER 14, 2024 19:02

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-820086&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

Over the last few days, over 100 terrorists have been killed, and critical terrorist infrastructure, including weapons caches and rocket launchers, have been located and destroyed, the IDF reported Saturday.

IDF troops have been conducting targeted, intelligence-based operations in the Tel al-Sultan area of Rafah, engaging with heavily armed terrorists from the Tel al-Sultan Battalion.

While sweeping the area, the troops discovered a large weapons stockpile containing sniper rifles, grenades, anti-tank missiles, and ammunition.

Over the last two weeks, IDF forces have also identified several tunnel shafts and mapped out extensive underground networks.

https://player.jpost.com/public/player.html?player=jpost&media=3769441&url=www.jpost.comFootage from the activity of the troops of the 401st Brigade in the Tel al-Sultan area. (IDF Spokeperson’s Unit)

Defeat of Hamas in Rafah

The IDF claimed that Hamas’s Rafah Brigade has been defeated in the first week of September. The Tel al-Sultan battalion was a major part of its fighting force. 

END

Maj.-Gen. Dan Goldfus: The IDF’s hero of Khan Yunis and destroyer of Hamas’s tunnels

IDF Maj.-Gen. Dan Goldfus considers that his breakthrough in overcoming Hamas’s tunnel warfare is not about a single moment in which he had an epiphany but the result of hard, exhaustive work.

By YONAH JEREMY BOBSEPTEMBER 14, 2024 10:19

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-819823&unitId=2900003088&userId=fc1f54a9-182e-48c4-af1c-0ddd1497d1d7&isLegacyBrowser=false&isPartitioningSupport=1&version=20240912_6b9d85abf961c144bd351750f981883328f45b26&useBunnyCDN=0&themeId=140&unitType=tts-player

There is a reason that incoming Northern Corps and Multi-Domain Joint Maneuver Array Maj.-Gen. Dan Goldfus is considered one of the rising stars of the IDF.

Israel Defense Forces Brig.-Gen. Itzik Cohen of Division 162, along with Brig.-Gen. Dado Bar Kalifa of Division 36 (also becoming a major general but in a less upwardly mobile position), Brig.-Gen. Barak Hiram of Division 99, and Brig.-Gen. Moran Omer of Division 252 have all played important roles in the invasion of northern Gaza. So what is so special about Goldfus?

One of the reasons that South African-Israeli Goldfus – promoted from brigadier general to major general in May – is joining the high command (others to hold his next post have gone on to become IDF chief, IDF deputy chief, and IDF intelligence chief) is that he is both the hero of Hamas’s defeat in Khan Yunis and the general who broke up the terrorist group’s network of tunnels.

How did Dan Goldfus overcome Hamas’s tunnel networks and defeat them in Khan Yunis?

The Magazine has learned that Goldfus considers that his breakthrough in overcoming Hamas’s tunnel warfare is not about a single moment in which he had an epiphany but the result of hard, exhaustive, and continuous work.

If, at first, the soldiers in his Division 98 – considered almost a special forces unit – had to slowly and clumsily feel their way around in the dark of the Hamas tunnels, they eventually became, in his view, the first army in modern history to carry out large-scale, full-unit invasions, maneuvering throughout the Hamas tunnel network.

The Magazine learned that in the initial stages of the war, Goldfus’s forces were required to focus on basics, such as recording the size of the tunnels, their volume, and their depth. Likewise, they just needed to get used to the aspect of the tunnels and to dig into them, gather photos, and study them. Over time, this systematic approach began to help build more confidence.

Goldfus and his troops would slowly explore various tunnel depths and examine the types of equipment Hamas used in differing tunnels but with very targeted and circumscribed goals and missions.

WHEN HE and his forces went in, Goldfus, being a soldier’s soldier, insisted on entering a huge number of tunnels himself to see them up close despite the extra risk to his person, as they usually did not yet know what to expect.

The Magazine understands that they would have a specific goal for each area in question, usually starting with tunnels about which Goldfus had received more extensive pre-operation intelligence from Shin Bet (Israel Security Agency) and IDF intelligence sources – particularly if Hamas was putting up a bigger fight to fend off IDF advances from a particular tunnel shaft.

At the outset, neither Goldfus nor any of the other generals allowed full units to maneuver down into the tunnels. So, even in early January, three months into the war and a full month after the then-brigadier general had invaded Khan Yunis, IDF soldiers very rarely ventured into the tunnels.

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EVENTUALLY, GOLDFUS realized that the Hamas tunnels were not separate systems but one massive decentralized network. This conclusion was reached when he and his top advisers found a convergence of trends.

The next step, diagnosing the convergence, was reserved for Special Forces. Division 98 started assuming slightly greater risk by entering the tunnels to maximize the benefit of taking over given areas above ground.

These Special Forces and engineers then began to diagnose the components of each particular tunnel on a deeper level. Goldfus would be the first to admit that this stage also took a long time.

Finally, early in January, the Division 98 commander and his forces had a breakthrough.

They had discussed and debated, sometimes through the night as they sat for their operational situation assessments and constructed a plan for entering the tunnels. The Magazine understands that Goldfus and his team asked themselves: What level of risk should we take to explore the tunnels? What are they worth to the enemy?

All levels of command were involved, including IDF Chief of Staff Lt.-Gen. Herzi Halevi, because going into the tunnels was taking a big risk.

Finally, Goldfus succeeded in understanding what Hamas was and was not doing. Surprisingly, he realized that Hamas had not come to fight underground. It just wanted to use the tunnels to survive and rest.

SUDDENLY, GOLDFUS and his team began to view the issue of the tunnels in another light.

The Yahalom Special Forces unit, along with various commandos, began entering the tunnels in larger numbers, with greater frequency, and covering larger distances.

Then, more “regular” infantry units such as the Unit 7 combat team, the Givati Brigade soldiers, and others went in.

In terms of understanding how the tunnels in various parts of Gaza relate to one another, Goldfus holds that this is not fully possible until one has seen a large number of different tunnels in various parts of Gaza. He would point out that every tunnel has different nuances: For instance, the doors built into the tunnel look different, and the cement material for framing the tunnel is different.

For example, in his view, anyone who saw the Shifa Hospital tunnels at the start of the war was in some sense a bit misled or “faked out.”

Many in the IDF who focused overly on Shifa thought that all the tunnels that the military went on to find would be the same. Goldfus would label this a “substantive error” because many tunnels are different.

In his view, Khan Yunis tunnels are different from Rafah tunnels, which are different from Jabalya tunnels, which are different from Shejaia tunnels. And there were different kinds of diggers in Khan Yunis and for each area.

ACCORDING TO Goldfus, some people thought he was crazy, but he was convinced that under their feet was a single giant network. These were not separate strategic tunnels, tactical tunnels, or separate areas. In his narrative, it was a single giant network from which it was possible to enter around Erez in northern Gaza and come out at Rafah and Egypt – like the process of water seeping through and flowing down a mountain.

Another analogy for the web of tunnels and the difficulty in navigating all of it that Goldfus likes to use is from a scene in the 1987 movie Spaceballs, a spoof on Star Wars, where Stormtroopers are told to “comb the desert” for escapees. They are then seen, literally and futilely, “pulling” a giant comb through the vast desert.

A recent operation to retrieve the bodies of hostages took less than 24 hours from start to finish, partially because Goldfus had acquired enough experience and intelligence regarding the tunnels to plan all the specifics.

In his view, he could not have done this without everything the IDF had learned along the way. This was a significant and complex operation, and the major general felt that he and his team had achieved something unusually significant.

All of this eventually led to IDF’s capability, in mid-and-late January, to shift to the process of simultaneously attacking above and below ground.

Will all of these breakthroughs help the IDF succeed in destroying all of Hamas’s tunnels?

Goldfus took into consideration that the IDF would not be able to get to all the tunnels. Rather, it would succeed in destroying the critical mass of tunnels that threaten the State of Israel because of their proximity, the Magazine has learned.

Further, the Division 98 commander’s view is that the military will be able to blow up many kilometers of tunnels – and key connecting tunnels that are central to the Gaza network – even if it will never be able to destroy them all. This equation does not disturb Goldfus. He would suggest looking to the kilometers of Japanese tunnels from World War II in Okinawa, many of them still there.

If no one is using them, he believes that the task is not the tunnels themselves but for the IDF to kill or wound Hamas terrorists – and to convince the Gazan population that they have alternatives to being ruled by the terrorist group, being used as human shields, or working with Hamas out of fear.

Goldfus disapproves of those who lack the patience to utilize a systematic approach to destroying the tunnels. His approach is that the IDF must be systematic and produce and utilize deep knowledge to maximize achievements within the minimum time necessary.

For example, in Shejaia his forces destroyed eight tunnels in just two weeks, the Magazine has learned. However, his forces were nowhere near that level of effectiveness in other areas.

The major general advocates that the IDF aspire to continue to up its game to rid the area of as much of the tunnel threat as possible.

IN HIS next challenge in the Northern Command, Goldfus will focus mainly on a variety of land forces, but he will also work with the Air Force and others to attempt to improve the holes in the military’s air defense. Although he has not yet fully assumed his new position, his view on using the older anti-aircraft Vulcan defense system to protect against drones is that, if used, it should remain the last line of defense.

In a recent interview, former Air Defense chief Brig.-Gen. (res.) Ran Kochav told the Magazine that on the one hand, the Vulcan was not a solve-all solution; but on the other hand, he thought it could have a place in plugging some of the holes in Israel’s current air defense, which is geared more toward rocket defense and less toward drones.

Goldfus’s approach is that, with the Vulcan systems’ utility limited by their short-range capabilities, it is impractical to spread them throughout Israel’s borders.

He considers that playing defense is difficult and that part of the solution is to be increasingly on the offensive against the drone threat.

This is hardly surprising, given that Goldfus began his career in the Shayetet 13 naval commandos.

END

ARAB STATES/NORTH AFRICA/

Youth unemployment continues to deteriorate here:

(zerohedge)

Arab States, Northern Africa Suffers World’s Worst Youth Unemployment

Monday, Sep 16, 2024 – 04:15 AM

According to the International Labour Organization (ILO), youth unemployment hit its lowest level in the past 15 years in 2023, at 13%, marking a strong recovery from the high rates during the COVID-19 pandemic.

However, these unemployment figures vary significantly by geographical region.

This map, via Visual Capitalist’s Kayla Zhu, visualizes youth unemployment rates by global region in 2023. Youth are defined as individuals between the ages of 15 to 24.

The data comes from the International Labour Organization’s 2024 Global Employment Trends for Youth 2024 report.

Which Region has the Highest Youth Unemployment?

Below, we show youth unemployment rates by region in 2023.

The Arab States, consisting of countries like Saudi Arabia, United Arab Emirates, Qatar, Yemen, and others, recorded the highest (28.6%) youth unemployment rate globally, with Northern Africa, consisting of countries like Algeria, Egypt, and Morocco, following closely behind at 22.5%.

According to the Brookings Institution, youth unemployment rates in the MENA (Middle East and North Africa) region have been the highest in the world for over 25 years.

In 2019, just before the onset of the COVID-19 pandemic, 30% of youth in the MENA region were NEET–not in education, employment, or training, according to the ILO.

Experts say the combination of low infant mortality rates and high fertility rates, which translated into high labor force growth rates from 1970 onwards could be a leading cause of the high youth unemployment rates in the region.

In contrast, the Northern America region saw the lowest youth unemployment rate in 2023, at only 8.3%. The U.S. saw a significant decrease in the youth unemployment rate last year, with young workers seeing the lowest unemployment rate in 70 years at 7.5% in March of 2023.

However, in the first half of 2024, both the U.S. and Canada both have seen increases in youth unemployment rates.

To learn more about youth employment, check out this graphic that show employment rates for U.S. college and high school students since 1993.

RUSSIA/UKRAINE/TURKEY

END

RUSSIA/UKRAINE/

Feeling lucky it seems

While most folks focus on the day to day. Things are rapidly changing as decisions have been made and mortals are doomed to live their fate unaware of shifting sand.

Yes, Ukraine is a bloody mess brought on by Neocon imbeciles drunk on war pursuits and the profit of an even beating war armament machine. Kursk is a fiasco of NATO planning and poor tactical operations.  Donbas is a lost cause. Zelensky knows his days are numbered and looking to run to America likely before year’s end.

Meanwhile, do you know that families of Russian diplomats started to leave America this past week? While Russia expelled 6 Brits from Moscow. And did you catch yesterday that the that Vassily Nebenzia the Russian ambassador to the United Nations, informed the UN Security Council, that  NATO countries will start an open war in allowing western long range missiles to target Russia? He went on to say that they will be forced to make certain decisions with consequences for both sides of the Atlantic. but the real highlight is with the Chinese Defense minister Dong Jun who publicly said and that is the China will militarily support Russia if NATO attacks Russia. Did no one just see the Naval exercise of the entire Russian fleet and China? Do you know that America will owe 16 trillion by year’s end? Where will this come from let alone where interest revenue occurs. And do you understand that a flood of USD will about to hit the homeland from Asia?? Yes, many pallets worth because of past mistakes. All while the Yen Carry trade is blowing up. One imagines war chances look better than financial ones. Because Stagflation is coming big and fast.

The reality of this is that NATO may well start a military conflict simultaneously with Russia and China. And no doubt secondary fallout will occur as other nations, such as an Iran and various proxies engage.

This is complete insanity because NATO cannot win. It can only lose.

end

RUSSIA

ROBERT H:

Russia’s S-500 Prometheus Can Intercept Targets In Space, Tackle US F-22.

“Also referred to as God of fire. If needed Russia will eliminate all low earth orbiting satellites. Thus blinding NATO, specially the US. It makes no difference to the Russian because their satellites sit safely above Western ones. The war of words continues with Russia warning Neocons daily. The latest warning comes as the US looks to place nukes in Japan. Russia has already informed the US they will do a comprehensive response not even waiting for the Chinese to join in. This is getting both bizarre and more serious quickly. One can see Neocons desperate for an edge while Russia watches and cautions. This should worry the ASEAN a bunch. People forget that Russia can deliver a knockout blow with modern delivery weapons with non nuclear warheads. As i have told you, both sides have taken decisions and others events are occurring in probing tactics which Russia is responding to in real time. We live in perilous times where a real conflict is more than possible before US elections.”

> https://youtu.be/WD9yimUqxeQ?si=c2A–8dS4I-VFE_y

Attachments area

Preview YouTube video Russia’s S-500 Prometheus Can Intercept Targets In Space, Tackle US F-22 & FF-35 Stealth Jets?

Russia’s S-500 Prometheus Can Intercept Targets In Space, Tackle US F-22 & FF-35 Stealth Jets?

END

RUSSIA/UKRAINE

Ukraine Military Seeks To Legitimize Kursk Presence By Inviting UN & Red Cross In

b

– 03:25 PM

In what could be an effort to legitimize its ongoing occupation of southern Russian territory, the Ukrainian government has issued formal invitations for the United Nations and International Committee of the Red Cross (ICRC) to come to the Kursk region and verify the situation on the ground.

Ukrainian Foreign Minister Andrii Sybiha revealed the request on Monday, saying it has been issued for the international organizations to “prove [Ukraine’s] adherence to international humanitarian law”.

The Kremlin has accused the invading Ukraine forces, which have held territory since Aug.6th, of committing atrocities and abuses against civilians.

The Zelensky government still says its forces control some 100 settlements on the Russian side near the border, but days ago also acknowledged there is a large Russian counteroffensive underway.

Sybiha has claimed Ukraine forces are overseeing “humanitarian assistance” and “safe passage” to Russian civilians still in the Kursk region.

The UN and Red Cross have yet to issue formal response to Ukraine’s request for them to send teams to assess the situation; however, Moscow has slammed it as a provocation.

Kremlin spokesman Dmitry Peskov blasted the invitations as a “pure provocation” but also said he expects “a sober assessment” from the international bodies.

Already, Russia has issued legal cases against Western journalists who have crossed into Kursk while embedded with the Ukrainian army. This includes a CNN team and some European correspondents.

Russia sees any and all international presence on its territory as a violation of Russian law and as part of an ‘illegal’ occupation.

From Ukraine’s perspective the Kursk operation is a legitimate tit-for-tat invasion, however risky and sure to fail it remains. Kiev’s hope is that Russia is forced to divert manpower from Ukraine’s east, where the front lines of fighting are, to Kursk.

But that doesn’t appear to have happened yet on any kind of large scale. Instead, President Putin appears to be patiently waiting while Ukraine’s own manpower and resources continue to be depleted both in Donetzk and Kursk.

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

WORLD EVENTS NOTEWORTHY

An Unprecedented Monetary Destruction Is Coming

Monday, Sep 16, 2024 – 01:05 PM

Authored by Daniel Lacalle,

Global money supply has soared by $20.6 trillion since 2019, according to Bloomberg.

Additionally, global debt surged by over $15 trillion in 2023, reaching a new record high of $313 trillion. Around 55% of this rise came from developed economies, mainly the U.S., France, and Germany. Unfunded liabilities in the United States amount to $72 trillion, almost 300% of GDP. This may seem high until you look at Spain with 500% of GDP, France with close to 400%, or Germany with close to 350% of GDP.

There is no escape from debt. Paying for the government’s fictitious promises in paper money will result in a constantly depreciating currency, thereby impoverishing those who earn a wage or have savings. Inflation is the hidden tax, and it is very convenient for governments because they always blame shops or businesses and present themselves as the solution by printing even more currency.

Governments want more inflation to reduce the impact of the enormous debt and unfunded liabilities in real terms. They know they can’t tax you more, so they will tax you indirectly by destroying the purchasing power of the currency they issue.

High taxes are not a tool to reduce high debt, but rather to perpetuate the expropriation of national wealth. Countries with high taxes and big governments also have enormous public debt levels.

If you thought the monetary destruction we have witnessed in recent years was excessive, just wait for the suffering we will endure in the future.

In 2024, the world has seen more than seventy elections where none of the parties with access to power even bothered to present a realistic plan to cut debt. Governments and politicians understand that they can make any promises using someone else’s money, and many voters will readily accept the fallacy of taxing the wealthy. Naturally, currency debasement leads to widespread impoverishment.

Kamala Harris promises tax deductions for start-ups and first-time homebuyers, as well as families with children. It is hilarious. Inflation, a hidden tax, consumes their earnings and savings, while high direct and indirect taxes absorb the remaining funds. Despite this, she promises a tax deduction that most small businesses will never take advantage of, as they will shut down before generating any profit.

The Treasury expects a $16 trillion increase in public debt between 2024 and 2034, without taking into account any recession risk. The enormous government debt of $35 trillion, along with its subsequent additions, has the potential to destroy the currency. Citizens will face higher debt, reduced access to goods and services, and the ultimate dissolution of the middle class in the absence of a pro-growth plan and serious support for the currency’s purchasing power.

Governments and politicians need the votes of the middle class to reach power, and they also need to erode the savings and wages of that same middle class to reduce the weight of public debt in real terms. When the government says they can print and issue more debt, you pay for it.

The trillions of dollars accumulated in debt will lead to an unprecedented wave of central bank easing, which will continue to include negative real rates and even direct debt monetization. However, they need an excuse to present themselves as the solution to the problem they created. A recession or a significant slowdown will be the trigger to implement the plan to destroy the purchasing power of currencies. However, this time inflation is already evident and persistent.

Remember why governments are pleased to destroy the purchasing power of the currency they issue? It is a form of nationalization of the country’s wealth.

How can governments implement currency destruction when citizens are already upset about high prices? First, they need to silence you. Second, eliminate your options to run away from the currency. Thirdly, enforce the expropriation with the motto, “You may have nothing, but you will find happiness.” Yes, you won’t have anything, but you won’t be content either. Only this time you will be unable to complain. Eliminating free speech and independent media is a key part of this plan.

You think I am exaggerating? If the government really believed you would be better off and more prosperous with their policies, they would encourage free speech because everyone would value their welfare improvements. They need to limit free speech because they know they will make you poorer. Therefore, it’s crucial for you to safeguard yourself against the promises made by the government and comprehend the reasons behind the destruction of money.

Fiat money is just a promise, and the issuer knows they cannot pay it in today’s value. Making you dependent and rendering the currency worthless is the best way to control you. Protect yourself investing.

END

MARK CRISPIN MILLER

Shaina Hurley (“Love Is Blind”) has cervical cancer (3 months pregnant); Lil Troy has major heart attack; Freddie Jackson, Brandon Looney, Phillies’ Austin Hays all battling kidney disease

BYU DC Jay Hill recovering from heart attack; sportscaster Jim Donovan retiring after cancer diagnosis; Houston furniture magnate “Mattress Mack” “says infection caused him to speak gibberish, vomit”

Mark Crispin MillerSep 14

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Note: Due to illness and shortage of funds, this week’s compilations are shorter than usual. To subscribe, click here. To learn more, click here.

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UNITED STATES

Freddie Jackson announces kidney disease diagnosis

September 3, 2024

Freddie Jackson (67) has been diagnosed with kidney disease, as revealed on social media this afternoon. “I’ve come to a point where I feel I’m ready to talk about a recent chapter in my life,” he continues, “I have been diagnosed with kidney disease.” In the deeply personal video announcement, the ‘You Are My Lady’ singer tells about his newly formed partnership with the National Kidney Foundation. This news confirms recent speculations about the singer’s health. Jackson’s July 2024 St. Kitts Music festival appearance left fans concerned about his health after seemingly struggling through the performance.

Link

Performer from Springfield ‘grateful’ for support amid kidney failure, genetic disease

August 31, 2024

Brandon Looney is feeling a newfound sense of “overwhelming love” from family, friends and colleagues. Thirty-two-year-old Looney was diagnosed with end-stage kidney disease in May 2023 and atypical hemolytic uremic syndrome, or aHUS, in July. Nonetheless, the Springfield native, who has lived and worked in New York for the past decade, isn’t letting physical challenges hold him back. Three times a week he undergoes dialysis, every month and a half he receives aHUS infusion therapy and currently, he is focused on securing a live donor for a kidney transplant. Kidney disease and aHUS don’t run in his family, Looney said, so his diagnoses were unexpected. This summer, Looney received another surprise diagnosis: atypical hemolytic uremic syndrome, a rare disease that causes blood clots. These clots may block blood flow to important organs, like the kidneys.

Link

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Upgrade to paid

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Phillies OF Austin Hays goes on IL with kidney infection

September 6, 2024

The Philadelphia Phillies moved outfielder Austin Hays [29] to the 10-day injured list on Thursday due to a kidney infection. The move is retroactive to Monday.

Link

Report: MLB Players Without COVID-19 Vaccine Can’t Play vs. Blue Jays in Toronto:

Link

Lil Troy suffers serious heart attack—”Fighting for his life”

September 1, 2024

Lil Troy [58], most famous for his 1998 hit “Wanna Be A Baller,” has reportedly suffered a heart attack. According to fellow Houston [TX] native Willie D, he’s in rough shape. On Sunday (September 1), the Geto Boys rapper shared an Instagram post that read: “Lil Troy Suffers Heart Attack…Fighting for His Life.”

Link

BYU DC Jay Hill ‘feeling much better’ after suffering heart attack

August 31, 2024

Provo, Utah – BYU defensive coordinator Jay Hill provided an update on his health status hours before the Cougars game against Southern Illinois. On Thursday night, Hill suffered a heart attack and quickly went to the hospital after practice. Hill provided an update on his status on X. “Leaving Thursday’s practice before the first game of the season is usually so exciting. Thursday for me was no exception. I was beyond excited about this team and the players preparation. As I got into the car to drive home that night I knew something was wrong. Never in my wildest dreams did I think I would be having a heart attack at age 49. I have since been released from the hospital and I am feeling much better as I look forward to a fast recovery.”

Link

Love Is Blind’s Shaina Hurley was diagnosed with cancer while 3 months pregnant: ‘Nothing was going to stop me’

September 5, 2024

Shaina Hurley [34] was just a few months pregnant with her “miracle” baby when she got the news that would turn her world upside down: she had cervical cancer. As of June 2024, Hurley is cancer-free, telling PEOPLE, “I am on the other side now. I had no symptoms,” Hurley explains in a recent interview. “But later, the doctor called me and said the pap smear results had come back as abnormal and they needed to get me in for a colposcopy.” About a month later, she underwent the procedure, with a doctor telling her “right away, ‘It’s not looking good.'” After the test was sent off to Northwestern, doctors were able to confirm one day later that she had Stage 2 cervical cancer. While doctors did take biopsies during her C-section, Hurley wasn’t out of the woods just yet. In fact, two weeks after she gave birth, she had a mini-stroke (TIA). “I was feeding my son and my hands went numb and then it shot down the left side of my body. My face drooped, I wasn’t making sense,” she describes. She recovered from the mini-stroke without any major side effects and then, four weeks later, she underwent the cold knife conization that doctors had been urging her to get for months — but it was unsuccessful. Six weeks later, she underwent another cold knife conization and, two weeks after that, received the words she had prayed for: “As of June, I’m finally cancer-free.”

Link

Jim Donovan announces retirement after cancer diagnosis

August 29, 2024

With the regular season just over a week away, fans of the Cleveland Browns are gearing up for a home season-opening contest against the Dallas Cowboys next Sunday. Long-time Browns fans will notice one sudden and saddening difference should they listen to the game – or any subsequent contest – this year. Browns’ play-by-play voice Jim Donovan announced on Thursday his immediate retirement from those duties due to his cancer diagnosis.

No age reported.

Link

Mattress Mack says infection caused him to speak gibberish, vomit

September 3, 2024

Houston, Texas – Jim “Mattress Mack” McIngvale [73] is out of the hospital after a health scare left him disoriented and vomiting outside Gallery Furniture late last week. True to form, McIngvale posted to X throughout his ensuing three-day stay at Baylor St. Luke’s Medical Center as doctors worked to diagnose his condition. McIngvale’s messages included updates on a large rash on his left leg as well as appeals to customers to take advantage of Gallery Furniture’s ongoing Labor Day Sale. Sitting on his couch at home, McIngvale told Dominguez he’s been diagnosed with cellulitis—a bacterial infection that afflicts deep tissue and can be life-threatening if not properly treated. The furniture magnate told Dominguez that he was unable to sleep and suffered temporary memory loss before being admitted to the hospital on Saturday. McIngvale said he’d initially feared he’d had another small stroke, but it was ultimately cellulitis that caused a “temporary disconnect of [his] cognitive abilities.” The furniture magnate went on to say he feels “great” and would be back at work Tuesday.

Link

Top ballet dancer Michaela Mabinty DePrince, who was forced to get the COVID-19 vaccine and subsequent boosters to perform in shows across America, has dropped dead at the age of 29. https://thepeoplesvoice.tv/worlds-top-ballerina-who-was-forced-to-get-covid-jab-drops-dead-at-29/…

11:30 AM · Sep 15, 2024

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555.8K Views

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DR PAUL ALEXANDER

BREAKING news media headline today “MONKEYPOX (Mpox) is a global health emergency. Will it cause a lockdown like COVID?” I have told you it is NOT, it is an issue for GAY, bi-sexual & tranny freak

perverts, not the general low-risk heterosexual population, it is for this specialized high-risk group & its sexual practices especially when infected with pustules etc.; now the bi-sexual people can

Dr. Paul AlexanderSep 13

READ IN APP

expand it to the low-risk population by perverted lifestyles, fornicating with men who are infected etc. and then taking it home to your low-risk female partner who is monogamous while you are engaging in high-risk sex behavior. Bi-sexual males are the biggest concern. In addition, sick malevolent Fauci types for money and big pharma can play with this in the lab and gin it up to become more infectious and even virulent (so called ‘gain of function). That will be a crime against humanity.

But if you are heterosexual, monogamous, low-risk, you have no issue. This is not a global public health emergency. It is fear-porn. It is the gay and bisexual and tranny community we must depend on now to behave themselves in terms of skin-to-skin intimacy with infected partners, and not expand it to the general population as they did with HIV. Via perverted sleezy bi-sexual lifestyles.

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.

Zelle:

sr7283@gmail.com

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Young Runner Dies Suddenly ‘While Clutching His Chest’ at DisneylandA 35-year-old experienced runner has collapsed and died suddenly while taking part in a half marathon at Disneyland in Southern California.READ MORE

Democrats Target Clarence Thomas with More Recusal Demands over Wife’s Political TiesDemocrats are yet again demanding that Justice Clarence Thomas recuse himself from Supreme Court cases.READ MORE

Maria Bartiromo Warns of Powerful ‘Cabal’ Trying to Stop TrumpFox Business anchor Maria Bartiromo has warned that there’s a “small cabal” of powerful elites in the corporate media and Hollywood who are actively working to stop President Donald Trump being re-elected.READ MORE

Trump: ABC’s License Should Be Revoked over ‘Dishonest’ Debate Moderators’ Pro-Harris BiasPresident Donald Trump has called for ABC News’s broadcasting license to be revoked over the moderators’ bias during the network’s presidential debate on Tuesday night.READ MORE

Diddy Accuser Comes Forward with Allegations of Abuse: ‘Want to Die Today?’Disgraced rap music mogul Sean “Diddy” Combs is facing fresh allegations of brutal abuse.READ MORE

CNN Scrambles to Defend Biased ABC Moderators While Interrupting Trump Spox with More Phony ‘Fact Checks’CNN appears to be carrying water for the ABC News moderators who provoked a backlash over their biased handling of the debate between President Donald Trump and Democrat presidential nominee Kamala Harris.READ MORE

FDNY Chief’s Widow Slams Biden-Harris Admin at 9/11 Commemoration for ‘Granting the Terrorists a Plea Deal’Lame-duck President Joe Biden and Democrat presidential nominee Kamala Harris were blasted to their faces as they attended the commemoration ceremony at Ground Zero in New York City on Wednesday.READ MORE

NEWS ADDICTS

LATEST REPORTS FOR NEWS JUNKIES

Woman Arrested for Eating Cat in Ohio – WATCHGruesome police bodycam footage shows officers arrested a woman in Ohio with “fur on her lips and blood on her hands” after she killed a pet cat and ate it in front of the owners.READ THE FULL REPORT

Pfizer FOIA Documents: mRNA Vaccines Are ‘US Weapons System’Pfizer has come under scrutiny after bombshell documents obtained through Freedom of Information Act (FOIA) requests revealed that the company sought to suppress information about vaccine side effects for 75 years.READ THE FULL REPORT

LISTEN: New police audio reveals man reporting Haitians stealing geese from local pond in Springfield, OHThe Federalist got their hands on police audio revealing how a man called to report a group of four Haitians stealing geese from a local pond in Springfield, Ohio. Here’s the audio of the call:  More from the Federalist: A recording of a police phone call obtained by The Federalist reveals a local resident reporting a group of Haitian migrants …READ THE FULL REPORT

Leftist NYC Council just voted to spend millions of taxpayer money on investigating ‘reparations’The Leftist New York City Council has just overwhelmingly voted on legislation to spend millions to investigate whether to institute reparations for black New Yorkers. Via NY Post: City lawmakers passed a controversial bill Thursday to create a reparations task force in New York City — which could lead to proposals to spend billions in taxpayer money as compensation for …READ THE FULL REPORT

Judge McAfee just rule Fani Willis didn’t have authority to bring some charges against Trump and threw them outIt’s being reported now that Judge McAfee has just ruled that Fani Willis didn’t have the authority to bring some of the charges against Trump and tossed those charges. Trump still faces eight out of the original thirteen charges, one of those being ‘racketeering’. But it does look like the case Willis brought against Trump and the others is falling …READ THE FULL REPORT

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

7.OIL PRICES/GAS PRICES/OIL ISSUES

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

VENEZUELA

Venezuela getting quite nasty as they arrest a navy seal among other foreigners, They arrest warrant stated alleged Maduro assassination plot

(zerohedge)

Venezuela Arrests Navy SEAL Among Several Foreigners Behind Alleged Maduro Assassination Plot

Sunday, Sep 15, 2024 – 12:15 PM

Venezuela has announced the arrest of three Americans, two Spaniards and a Czech citizen, accusing them of plotting to assassinate President Nicolas Maduro. The arrests were first announced Saturday by the country’s Interior Minister Diosdado Cabello, who said that one of the Americans is Wilbert Joseph Castañeda Gomez – a Navy SEAL – who state television said served in Iraq, Afghanistan, and Colombia.

Cabello alleged this was all part of another CIA plot to overthrow the Maduro government, which comes after Washington has contested the official results July 28 election which ensured the longtime strongman another six-year term as leader.

Cabello further held up rifles he claimed were used by the six foreigners as part of the anti-government plot. Below is an image circulated by state media of Gomez, who is being described as an active elite SEAL…

While the United States is of course vehemently denying that it is behind any plot to assassinate or overthrow Maduro, the State Department did offer confirmation that at least one of the arrested men is a military servicemember:

The U.S. State Department late Saturday confirmed the detention of a U.S. military member and said it was aware of “unconfirmed reports of two additional U.S. citizens detained in Venezuela.”

However, the statement emphasized that “Any claims of U.S. involvement in a plot to overthrow Maduro are categorically false. The United States continues to support a democratic solution to the political crisis in Venezuela.”

And yet the whole bizarre saga is eerily familiar. In 2020 a former US Green Beret who ran a private security firm in Florida assembled a team for what ended up being a failed amphibious raid by a ragtag group of soldiers out of Colombia on Venezuela’s shores.

The former Beret, Jordan Goudreau, later faced federal charges for failing to have an export license for assault rifles, ammunition, silencers, night vision goggles, and other military items which had been sent to Colombia.

The Associated Press had summarized of that 2020 incident:

Despite the setbacks, the coup plotters went forward in a comical if tragic way in what was widely ridiculed as the “Bay of Piglets,” in reference to the 1961 Cuban fiasco. The group was easily mopped up by Venezuela’s security forces, which had already infiltrated the group. Two of Goudreau’s former Green Beret colleagues spent years in Venezuela’s prisons until a prisoner swap last year with other jailed Americans for a Maduro ally held in the U.S. on money laundering charges.

This might explain why Venezuelan security services are perhaps extra paranoid when they come across a group of Americans and foreigners which include a member of an elite US military forces. Even common American citizens have been told by the US State Department to avoid all travel in the Latin American country.

This summer Maduro has been cracking down hard on “far right” opposition movements which he says have the backing of the CIA and other external agitators.

In this current case of the detained six foreigners, it’s as yet unclear the precise circumstances of what they were doing when apprehended, but based on past instances Caracas is likely to use their imprisonment to gain concessions from the US government.

Just days ago the US Treasury imposed fresh sanctions on a number of Maduro officials and entities, accusing them of obstructing Venezuela’s voting process and rigging the election. The US has declared it won’t recognize the results of Maduro’s “win” – but has yet to go so far as to declare an opposition “Interim President” as it previously did for years with Juan Guaidó.

END

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

EURO VS USA DOLLAR:  1.1125 UP 0.0058

USA/ YEN 140.01 DOWN 0.683 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 NOW IMPLODES//YEN CARRY TRADE FINISHED

GBP/USA 1.3197 UP 0084

USA/CAN DOLLAR:  1.3579 UP.0002 (CDN DOLLAR DOWN 2 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED

 Hang Seng CLOSED UP 53,03 PTS OR 0.31%

AUSTRALIA CLOSED UP 0.21%

 // EUROPEAN BOURSE:     MOSTLY ALL RED

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  MOSTLY ALL RED

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 53.03 PTS OR 0.31%

/SHANGHAI CLOSED

AUSTRALIA BOURSE CLOSED UP 0.21%

(Nikkei (Japan) CLOSED

INDIA’S SENSEX  IN THE RED

Gold very early morning trading: 2581.30

silver:$30.94

USA dollar index early MONDAY  morning: 100.33 DOWN 46 BASIS POINTS FROM  FRIDAY’s CLOSE.

MONDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  MONDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.721%  DOWN 2 in basis point(s) yield

JAPANESE BOND YIELD: +0.851% UP 0 AND 2/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 2.931 DOWN 2 in basis points yield

ITALIAN 10 YR BOND YIELD 3.499 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.1450 DOWN 2 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR MONDAY  

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

Euro/USA 1.1123 UP .0056 OR 56 basis points

USA/Japan: 140.68 DOWN 0.014OR YEN IS UP 2 BASIS PTS//ROUND II OF ENDING YEN CARRY TRADE EXPLODES AGAIN TODAY

Great Britain 10 YR RATE 3.812 UP 1 BASIS POINTS //

Canadian dollar DOWN .0011 OR 11 BASIS pts  to 1.3588

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED DOWN AT 7.0972(ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (DOWN)…. (7.0974)

TURKISH LIRA:  33.98 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +0.851

Your closing 10 yr US bond yield UP 1 in basis points from FRIDAY at  3.656% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  3.977 UP 0 in basis points  /11:00 AM

USA 2 YR BOND YIELD: 3.580 DOWN 0 BASIS PTS.

GOLD AT 11;00 AM 2584,90

SILVER AT 11;00: 30.90

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

London: CLOSED UP 5.38 PTS OR 0,.06%

German Dax :  CLOSED DOWN 86,79OR 0.30%

Paris CAC CLOSED DOWN 15,81 PTS OR 0.21%

Spain IBEX CLOSED UP 40.80 OR 0.35%

Italian MIB: CLOSED UP 1.51OR 0.00

WTI Oil price  70,33 12EST/

Brent Oil:  73.19 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  91.22 ROUBLE DOWN 0 AND  5/100      

GERMAN 10 YR BOND YIELD; +2.1450 UP 1 BASIS PTS.

UK 10 YR YIELD: 3.812 UP 4 BASIS POINTS

CDN 10 YEAR RATE: 2.900 DOWN 2 BASIS PTS.

CDN 5 YEAR RATE: 2.699 DOWN 4

CLOSING NUMBERS: 4 PM

Euro vs USA 1.1118 UP 0.0052  OR 52 BASIS POINTS

British Pound: 1.3204 UP 0.0091 OR 91basis pts

BRITISH 10 YR GILT BOND YIELD:  3.7890 UP 2 BASIS PTS//

JAPAN 10 YR YIELD: 0.846

USA dollar vs Japanese Yen: 140.87 UP .169 YEN DOWN 17 BASIS PTS//

USA dollar vs Canadian dollar: 1.35903UP 0.0016 CDN dollar DOWN 16 BASIS PTS

West Texas intermediate oil: 70.34

Brent OIL:  72.80

USA 10 yr bond yield DOWN 3 BASIS pts to 3.625

USA 30 yr bond yield DOWN 3 BASIS PTS to 3.940%

USA 2 YR BOND: DOWN 1PTS AT  3.566

CDN 10 YR RATE 2.895 DOWN 2 BASIS PTS

CDN 5 YEAR RATE: 2.704 DOWN 6 BASIS PTS

USA dollar index: 100.46 DOWN 33 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 34.01 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  91.40 DOWN 0 AND  70//100 roubles

GOLD  2,580.00 3:30 PM

SILVER: 30.72 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 228.30PTS OR 0.55%

NASDAQ DOWN 91,52 PTS OR 0.49%

VOLATILITY INDEX: 17.12 DOWN 0.56 PTS OR 3,35%

GLD: $238,66 UP 0.02OR 0.00%

SLV/ $28.07 UP .55 OR 0.18%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Bitcoin & Big-Tech Battered, Bonds & Black Gold Bid As Rate-Cut Expectations Soar

Monday, Sep 16, 2024 – 04:00 PM

A quiet macro day ahead of the coming storm with just soft-survey data hitting. But having said that US Empire Fed Manufacturing exploded higher (smashing expectations by six standard deviations in September, +11.5 vs -4.0 exp, vs -4.7 prior)…

Source: Bloomberg

However, it was the WSJ’s Greg Ip that prompted some chaos in markets with his weekend piece pitching 50bps cut this week. The market is now pricing in around 70% odds of a 50bps cut this week…

Source: Bloomberg

We do noted that 2025 rate-cut expectations are drifting lower as 2024 dovishly increases…

Source: Bloomberg

Interestingly, before we dive into the details of market moves today, we note that, ahead of the rate-cut(s), usage of The Fed’s Reverse Repo facility plummeted to $239BN today – its lowest since May 2021 – as liquidity continues to bleed from the system (note that we have seen this purge and surge…

Source: Bloomberg

Goldman Sachs trading desk noted today was a fairly quiet start to “rate cut week” after “inflation week” turned in the best weekly performance for SPX all year, which reversed the worst weekly performance of the year from “jobs week” just two weeks ago.

• Most sitting on their hands ahead of Weds and digesting the various arguments for 25 vs 50 as mkt volumes are down -11% and on track for first sub-10B shr session since 8/27

On the day, Nasdaq was the sole stock index lower (down over 1% at its worst) with The Dow and Small Caps outperforming (S&P oscillated around unch). After Europe closed (following the very choppy US open), US equities drifted higher…

Nasdaq bounced higher off its 50DMA…

After five straight days of gains, the Mag7 stocks tumbled today (losing around $170BN in market cap) with AAPL and NVDA dominating the downside while META rallied…

Source: Bloomberg

VIX jumped back above 17 today…

Treasury yields were lower on the day with the long-end outperforming…

Source: Bloomberg

The 10Y yield closed at its lowest since June 2023…

Source: Bloomberg

The dollar drifted modestly lower today (4th day in a row), back below the Jackson Hole lows…

Source: Bloomberg

Gold made small gains today, consolidating at record highs…

Source: Bloomberg

Silver has been outperforming gold for the last few days and is back at two month highs relative to gold today…

Source: Bloomberg

We encourage readers to use our exclusive partners JM Bullion for all your precious metals purchasing needs.

The weakness in big-tech carried over into crypto with bitcoin clubbed like a baby seal back to a $57,000 handle, erasing all of Friday’s surge…

Source: Bloomberg

Oil prices continued their rebound, with WTI back above $70 once again…

Source: Bloomberg

Finally, stocks and bonds remain decoupled (the latter thinking ‘recession’ and the former focused on ‘rate cuts to save the world’)…

Source: Bloomberg

The reflexive dichotomy of those two arguments may well come unglued after Powell makes his decision this week – 25bps or 50bps!?

MORNING TRADING

AFTERNOON TRADING///

II USA DATA

III  USA ECONOMIC COMMENTARIES

This is a big deal: Trump vows to end taxes on overtime pay if elected. If he does win, I will bet he will turn to a flat tax

(zerohedge)

Trump Vows To End Taxes On Overtime Pay If Elected In November

Saturday, Sep 14, 2024 – 10:30 AM

Authored by Katabella Roberts via The Epoch Times (emphasis ours),

Former President Donald Trump has said he plans to end taxes on overtime wages for individuals who work more than 40 hours a week if he is elected to the White House again.

Trump made the comments during a campaign rally in Tucson, Arizona on Sept. 12, telling the crowd that working class Americans deserve to “catch a break.”

“Today, I’m also announcing that as part of our additional tax cuts, we will end all taxes on overtime. You know what that means? Think of that,” the Republican said. “That gives people more of an incentive to work, it gives the companies a lot, it’s a lot easier to get the people.”

Trump said ending taxes on overtime wages would potentially generate a “whole new workforce” in the United States.

He went on to praise the hard work of police officers, nurses, factory workers, construction workers, truck drivers, and machine operators.

“The people who work overtime are among the hardest working citizens in our country, and for too long no one in Washington has been looking out for them,” he continued.

Trump did not provide further details as to how the tax policy would work.

Currently, overtime income—which is defined as nonexempt under the Fair Labor Standards Act—is taxed at the same rate as standard income, and any change to the tax law requires an act of Congress.

Elsewhere during the rally in Tucson, Trump repeated his promise to end taxes on tipped wages and eliminate taxes on Social Security benefits.

The Republican has said on multiple occasions that he plans to scrap both taxes immediately after taking office if he were to win the presidential election in November.

Impact of Harris, Trump Tax Policies

Under current law, tips are considered normal income and subject to standard income tax law.

Meanwhile, around 40 percent of Americans who receive Social Security payments have to pay federal income taxes on those benefits, according to the Social Security Administration.

This typically happens for Americans who have “other substantial income” in addition to their monthly benefits, including wages, earnings from self-employment, interest, dividends, and other taxable income, according to the agency.

Currently, under federal law, retired individuals who earn less than $25,000 per year, or $32,000 for married couples, pay no taxes on their Social Security payments.

Vice President Kamala Harris, the Democratic nominee for president, has also called for similar proposals such as scrapping taxes on tips and Social Security benefits in recent months.

According to a Sept. 10 analysis from the Tax Foundation, Harris’s tax policies would raise $2.2 trillion of tax revenue from corporations and $1.2 trillion from individuals from 2025 through 2034.

The “economic harm from Harris’s tax hikes would also greatly reduce the ability to address an emerging debt crisis,” according to the Tax Foundation.

The same foundation noted that Trump is yet to release a fully detailed plan regarding his tax proposals but has “floated several tax policy ideas.”

His proposed tax cuts would decrease federal tax revenue over the 10-year budget window by $6.1 trillion on a conventional basis and by $5.3 trillion on a dynamic basis, according to the non-profit.

“Overall, Trump’s policies would reduce distortions in one part of the tax system, namely income taxes, only to replace them with new distortions in another part of the tax system, namely tariffs,” the foundation wrote. “The combination of policies under consideration risks shrinking the economy and growing the debt.”

Jack Phillips contributed to this report.

END

Should be every state!

“Huge Win”: Pennsylvania Supreme Court Rules To Disqualify Undated, Misdated Mail-In Ballots

Sunday, Sep 15, 2024 – 12:50 PM

Authored by Tom Ozimek via The Epoch Times,

The Pennsylvania Supreme Court issued a decision on Sept. 13 that upholds a requirement in the key battleground state that voters must include accurate dates on the exterior envelopes of their mail-in ballots for the votes to be counted.

The split 4–3 ruling vacates a previous Commonwealth Court decision that had halted enforcement of the legal requirement under Pennsylvania law that disqualified mail-in ballots if they were undated or featured incorrect dates. The Commonwealth Court found that the date requirement was unconstitutional when enforced against voters who submit their ballots by deadline.

The Pennsylvania Supreme Court found that the Commonwealth Court did not have the authority to review that case because the plaintiffs did not include all 67 county election boards as defendants. Even though they included Al Schmidt, the secretary of the Commonwealth, as a defendant, that alone wasn’t enough to give the Commonwealth Court authority to decide the case.

The high court also declined a request by the plaintiffs to use extraordinary jurisdiction powers (under 42 Pa.C.S. § 726) that allow the Pennsylvania Supreme Court to take over cases from lower courts when there is a significant public interest or an urgent issue needing immediate resolution.

In a dissenting statement, Justice David Wecht argued that the court should have ruled on the constitutional question presented in the appeal rather than vacate the lower court’s decision on technical grounds.

“A prompt and definitive ruling on the constitutional question presented in this appeal is of paramount public importance inasmuch as it will affect the counting of ballots in the upcoming general election. Therefore, I would exercise this Court’s King Bench authority over the instant dispute and order that the matter be submitted on the briefs,” wrote Wecht in dissent, with Chief Justice Debra Todd and Justice Christine Donohue joining.

King’s Bench authority is a broader and more powerful tool than the plaintiffs’ extraordinary jurisdiction request. It allows the Pennsylvania Supreme Court to step in and rule on urgent matters of public importance at any stage of a case, even if procedural hurdles exist.

Wecht and the other dissenting justices also argued that the case should have been decided based on the written legal documents already filed rather than on the basis of potentially newly scheduled oral arguments, highlighting their view that it is important to settle the constitutional question of whether Pennsylvania’s mail-ballot date requirement violates the Free and Equal Elections Clause of the Pennsylvania Constitution, ahead of the fast-approaching Nov. 5 presidential election.

The case was brought by a coalition of nine advocacy groups, including the Black Political Empowerment Project, League of Women Voters of Pennsylvania, and Pittsburgh United, with co-counsel from the American Civil Liberties Union (ACLU) of Pennsylvania. The groups challenged the legality of enforcing the date requirement for mail-in ballots, arguing that it violated the Pennsylvania Constitution’s provision for “free and equal” elections. The Commonwealth Court initially ruled in favor of the plaintiffs, suspending enforcement of the dating rule in two key counties—Philadelphia and Allegheny.

The Pennsylvania Supreme Court’s decision to reverse this ruling allows enforcement of the rule that mail-in ballots with date errors can be invalidated. The decision could affect thousands of votes in what is expected to be a highly competitive presidential election in Pennsylvania, a key swing state.

ACLU of Pennsylvania, which was involved in the case, estimated that the handwritten date requirement has led to the disqualification of tens of thousands of Pennsylvania voters who were otherwise eligible, including more than 10,000 in the 2022 general election alone.

A request for comment on the ruling and whether ACLU of Pennsylvania intends to appeal the decision to the U.S. Supreme Court was not immediately returned.

Michael Whatley, chairman of the Republican National Committee (RNC), and co-chair Lara Trump, issued a joint statement praising the high court’s decision.

“This is a huge win to protect the vote in Pennsylvania that will secure commonsense mail ballot safeguards and help voters cast their ballots with confidence. The Keystone State will be absolutely critical in this election, and the Supreme Court has decided a major victory for election integrity,” they said.

In a legal brief filed in the case, the Democratic National Committee argued that the date requirement serves “no cognizable state interest” and that “a missing or incorrect date does not justify denying qualified Pennsylvanians of that critically important right” to vote.

The ruling underscores the ongoing tension between election integrity measures and voting access as the 2024 election approaches.

end

CALIFORNIA

Many California homeowners are losing their insurance as the cost to insurers is just too great.

(EpochTimes)

California Homeowners Are Losing Their Insurance. Here’s Why…

Sunday, Sep 15, 2024 – 06:40 PM

Authored by Siyamak Khorrami via The Epoch Times

Thousands of Californians have lost their home insurance coverage in recent years, a topic host Siyamak Khorrami recently featured on Epoch TV’s “California Insider.” 

To help understand the complex issue, Khorrami invited an insurance broker with 40 years in the business as well as a couple who have recently lost two homes to California wildfires, the more recent of which was uninsured. 

Additionally two California lawmakers give detail solutions and their take on how to turn the problem around.  

Caps on Rate Increases

The issue began in 1988, when California residents approved Proposition 103, which capped rate increases for auto insurance—and eventually for homeowners’ policies—and established the state’s insurance commissioner. 

Since then, the commission has approved rate increases for residential and commercial property based on historical data and capped them at 7 percent. If a carrier requested more, the approval process was opened up to challenges by residents and watchdog groups. The result, experts say, is that increases, if approved at all, could take up to two years. 

Such kept homeowners’ rates in California artificially low, while other costs for insurers were on the rise.

A Freeze on Rate Increases

Insurance broker Harry Crusberg said the crisis of so many insurance carriers canceling policies or leaving the state began during the COVID pandemic, when the state’s insurance commissioner froze all rate increases, resulted in carriers losing money. 

“Carriers started losing $1.15 to $1.25 per dollar they took in,” Crusberg said.

“When you talk about multi-millions of dollars and billions of dollars, these losses just mounted substantially for carriers.”  

As a result, carriers large and small started issuing nonrenewals or dropping out of the California market all together. 

“You can only lose money for so long,” he said. 

Suddenly, many homeowners lost their insurance and had only two options: going with one of the so-called non-admitted carriers—which are not regulated or guaranteed by the state—or getting insurance through California’s Fair Plan, established more than 50 years ago as a last-ditch emergency resort. 

While pricing can vary, both are usually much more expensive than traditional insurance, as much as 10 times higher in some cases, experts say.

The Fair Plan is not funded by the government, as some believe, but instead by the state’s regulated insurance carriers, who pay proportionally into it. According to Crusberg, today they have accumulated about $400 billion in risk for their contributions to the plan. 

With a freeze on rate increases, contributions to the Fair Plan, the need to have their own costly insurance—called “reinsurance”—and more claims for wildfire and disasters, the industry became destabilized, Crusberg said.

“They [had] to back off. They just [didn’t have] the capital to sustain that,” he said.

Crusberg said the confluence of issues is rare.

“I’ve been in the business for a little over 40 years … and we’ve never been faced with such a situation,” he said. 

A New Insurance Plan

According to Crusberg and others, there is now “light at the end of the tunnel,” thanks to recent changes by the state’s insurance commission that will allow for wildfire and risk-based premiums determined by recent events. Also, under the commissioner’s recent plan, an insurance carrier’s requested rate increase must be decided within 90 days. 

“Once that comes in, the carriers [will start] to get a breath of fresh air,” he said.

“If we can do this and get our right rates, we’re going to be able to help solve this problem by coming back into the marketplace.”

But with the new plan—called the “sustainable insurance model”—not yet in place, some have chosen a third option: to forgo home insurance altogether. 

One Couple’s Losses

Such is the case of Michael and Christy Daneau, who lost a home in the 2018 Camp Fire in Northern California’s Butte County, and then, most recently, another in July’s Park Fire, which originated in Chico, about a 20 minute drive west from their first home.

The couple said they had insurance before the first fire for $86 a month. But after they moved to the Chico area, their first year of insurance through the Fair Plan—the only insurer that would carry them—was $7,000—roughly $580 a month—payable in one lump sum. 

They also had to purchase additional coverage for their new home, as the Fair Plan offers only fire insurance. 

They said the price increased to $10,000 in the second year, again due in one payment, and finally $12,000 in the third year, which they said they could no longer afford. 

Ultimately, the couple said, they had to go without, an especially hard decision as they had already lost one home to fire. They never expected they would be hit twice.

The price was “too unobtainable for us,” Daneau said. 

Now after the Park Fire, he said they have little left. 

“We went from being homeowners, owning our house outright, to now having literally just some clothes and a few personal possessions,” Daneau said. 

Other Solutions

California state Sen. Bill Dodd, who represents the state’s Third Senate District including Napa, Contra Costa and Sacramento counties, told Khorrami their choice to not have insurance was not a good one. 

“All you can do is hope and pray, and hope and prayers are not a great strategy,” he said. 

He said he has faith in the commissioner’s new insurance strategy since it will allow insurers to increase rates using climate and catastrophic models and will allow them to factor in their cost for reinsurance.

Not being able to do so previously, he said, was a “disservice to the ratepayers of the state of California.”  

Because insurers’ rate increases have been capped at 7 percent for so long, he said, allowing them to catch up with increases between 25 percent and 40 percent will ultimately stop so many carriers leaving the state. 

“Thirty-five percent rate increases across the board are a heck of a lot better than cancellation of policies or rates that are three to four to 10 times more than [people] are paying now,” Dodd said.

“That is at least affordable.

“It’s doable and ultimately creates a more stable insurance market and perhaps competition over time could bring those prices down.” 

He said the number of policies written for the Fair Plan more than doubled over the last year, and that is “a critical problem.”

“It’s got way too many clients to really withstand the type of risk that it is,” he said. 

He said as things change, property owners currently on the plan or those using non-admitted providers will decrease as more typical carriers return to the market and pick up those lost customers. 

Additionally, Sen. Dave Cortese, who represents the state’s 15th Senate District, which encompasses Santa Clara County, discussed the possibility of what’s known as “partial” insurance, where a carrier, for example, would insure only a portion of a property, which he said needed more study. 

He added that there may be bills introduced in the next legislative session—beginning in January—that, if passed, would make the insurance process better for homeowners, especially in terms of fire risk, like being rewarded for hardening their property and creating defensible space around their homes. 

Then, he said, the homeowners could go back to the insurer and say, “‘We’ve reduced your risk. Can you underwrite insurance on those now?’” he said. 

He also said the Legislature needs to consider a state-funded backup financial safety net for the Fair Plan. As it is today, if there were a couple of major losses, it could become insolvent. 

By doing so, he said, “Fair Plan won’t be able to tell [people who have catastrophic losses], ‘Sorry, we ran out of money,’” Cortese said. 

He closed by saying both chambers of the Legislature have created their own insurance working groups to come up with solutions to get the insurance market to “shift back naturally to where it should be.”

“The Legislature is taking this issue very, very seriously,” he said. “We know that people who have invested their entire lives or life savings in their homes and their properties can’t be left at risk without insurance coverage.” 

Finding the balance between protecting property owners and ensuring insurance companies are profitable enough to do business in the state is the challenge. 

“That’s the balance and that’s the trick,” Cortese said. “That’s what we’re trying to accomplish.” 

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

another attempt on Trump’s life and this also failed:

“Nothing Will Slow Me Down” – Trump Reacts After Being Reportedly Targeted By Shooter With AK47 While Golfing, Secret Service Returned Fire

Sunday, Sep 15, 2024 – 03:57 PM

Update (1615ET): The former president has issued a statement confirming he is “safe and well” and declaring “nothing will slow me down”…

CNN reported that police have recovered a backpack and a semi-automatic rifle and a GoPro camera.

They think the attempted Trump shooter wanted to film it.The following clip shows a heavy police presence on the roads leading to the golf club…

*  *  *

The Trump campaign on Sunday said that former President Donald Trump is safe after reports of gunshots in his vicinity outside the Trump International Golf Course.

“President Trump is safe following gunshots in his vicinity,“ a brief statement released by Trump spokesman Steven Cheung said.

”No further details at this time.”

The U.S. Secret Service wrote on social media platform X that it is working with the Palm Beach County Sheriff’s Office to investigate the incident, adding that it occurred before 2 p.m. ET.

“The former president is safe,” the federal agency said.

The sheriff’s office will provide more details about the incident “soon,” the agency added.

CNN is reporting the shots were intended for the former president…

BREAKING: CNN has said: "Officials believe the shots fired at Trump International Golf Club were intended for former President Donald Trump." pic.twitter.com/FhHpOSGy1p

— unusual_whales (@unusual_whales) September 15, 2024

Secret Service fired at the suspect, according to multiple sources.

A long gun (Don Jr confirmed it was an AK-47) has been recovered, according to the source.

Officials believe an armed individual intended to target former President Donald Trump at his golf club, according to sources briefed on the matter.

However, The New York Post said two people exchanged fire at Trump golf club in Florida, targeting each other (a narrative that has since been deleted).

The White House was quick to express their “relief” that Trump was not hit:

“The President and Vice President have been briefed about the security incident at the Trump International Golf Course, where former President Trump was golfing. They are relieved to know that he is safe. They will be kept regularly updated by their team.”

As the above suggests, no one is really sure WTF happened for now.

However, one thing we know for sure, the same rhetoric that likely prompted the first assassination attempt has not stopped…

Though, of course, everyone will quickly decry political violence…

…but, weren’t we told that “words are violence” too?)

end

And Trump wants this job?

(zerohedge)

Would-Be Trump Assassin Palled Around With Neo-Nazi Azov Brigade In Ukraine: What Did The Government Know?

Monday, Sep 16, 2024 – 09:40 AM

Perhaps the most interesting angle to attempted Trump assassin Ryan Routh’s recent history in his Ukraine connection. We documented that when he went to Ukraine to recruit for its International Legion in 2022 he was a Western mainstream media darling for a time, having been quoted on behalf of the cause to get more foreign fighters to throw into the battle against Russia by a who’s who of major media sources from FT to Newsweek to the NY Times.

But when he arrived in Ukraine, according to these media reports, the 58-year old Routh himself was considered too old to fight alongside the Ukrainian army. “So plan B,” Routh described to one outlet, “was to come to Kiev and promote the idea of many others coming to join the International Legion. We need thousands of people here to fight alongside Ukrainians.” 

“There are about 190 countries on our planet, and if the governments are not officially sending soldiers here, then we civilians should pick up this torch and make it happen,” he described. He had told Newsweek in a video interview from Ukraine that the war with Russia was as simple as “good vs. evil” and essentially the same as good guys and bad guys in the Hollywood movies Americans grew up with. It was not a gray conflict, he described, but “black and white”.

In March of 2022, just a month into the Russian invasion, he tweeted that everyone around the globe should be willing to volunteer and “fight and die” in Ukraine. Still, much of his time was reportedly spent in a hotel room in the far western city of Lviv.

Among the more bizarre aspects to his campaigning on behalf of the Ukrainian military’s foreign legion were his efforts to recruit US-trained Afghan special soldiers to go to Ukraine’s front lines. The initiative appeared so large in scale (given Routh was seeking to transfer hundreds, or even thousands, of Afghan fighters – according to his words) – that one commentator questions in light of the attempted assassination of Donald Trump: “Who was he working with in the US government that was allowing him to do this?”

In a 2023 interview with the NY Times Routh openly displayed his proclivity toward violent acts by threatening to shoot his critics, and the Times featured the quote almost as if lionizing his commitment to defending Ukraine:

In a telephone interview with The New York Times in 2023, when Mr. Routh was in Washington, he spoke with the self-assuredness of a seasoned diplomat who thought his plans to support Ukraine’s war effort were sure to succeed. But he appeared to have little patience for anyone who got in his way. When an American foreign fighter seemed to talk down to him in a Facebook message he shared with The New York Times, Mr. Routh said, “he needs to be shot.”

There needs to be a full investigation of all the Washington officials and reporters the second would-be Trump assassin has interacted with over the last four years, including Malcom Nance, the entire Vindman clan, and everyone associated with the Helsinki Commission. pic.twitter.com/JErwzeSIzu

— Sean Davis (@seanmdav) September 16, 2024

He has received the media attention also apparently as head of the International Volunteer Center in Ukraine. Importantly, he has boasted of having “had partners meeting with [Ukraine’s Ministry of Defense] every week and still have not been able to get them to agree to issue one single visa.” This raises the question of the degree of his involvement with US government officials at the time.

The Times had documented that Routh planned to move volunteers “in some cases illegally, from Pakistan and Iran to Ukraine” – and claimed that many had expressed interests. He further boasted of breaking or at least bending foreign countries’ laws in some cases. “We can probably purchase some passports through Pakistan, since it’s such a corrupt country,” he told NY Times. He announced on Facebook at one point, “Soldiers, please do not call me. We are still trying to get Ukraine to accept Afghan soldiers and hope to have some answers in the coming months… please have patience.”

He also recounted some of this experience in his self-published book, still available on Amazon, which is titled “Ukraine’s Unwinnable War: The Fatal Flaw of Democracy, World Abandonment and the Global Citizen-Taiwan, Afghanistan, North Korea and the end of Humanity.”

As if all of this weren’t shady enough, raising a myriad of questions over who in the US government knew what and when of the future would be Trump shooter, he had connections with Ukraine’s neo-Nazi Azov Brigade (often referenced by its earlier name Azov Battalion). 

For a brief background review of Azov, even mainstream media has long grudgingly admitted that “in response to the neo-Nazi ideology of the group’s founders, the US had banned the regiment from using American weapons in 2014.” But the State Department more recently claimed it found “no evidence” that the extremist militant group has committed human rights violations or war crimes (in which case US law would prohibit providing weapons or training). This after President Volodymyr Zelensky himself has long been seen paling around with Azov commanders in public appearances.

The US State Department in June of this year announced that it finally lifted a longtime ban on giving weapons and training to Ukraine’s notorious Azov Brigade (often referenced by its earlier name Azov Battalion). All the while, Azov’s members have never been shy about sporting Nazi-inspired patches. 

As of Monday, and with all of these deep Ukraine connections made evident with regard to Ryan Routh, the Zelensky government as well as Azov Brigade are attempting some serious PR damage control. But in the process, their statements serve to confirm Rough’s connections to the neo-Nazi outfit. According to EuroNews:

Meanwhile, a video appeared on social media linking Routh to the Azov Brigade, claiming he participated in a 2022 event to support the unit’s Mariupol brigade.

The Azov Brigade said the event was a peaceful demonstration open to all and that Routh was never part of the unit.

“We would like to officially state that Ryan Wesley Routh has no connection to Azov and has never had any connection to Azov,” the unit said in a statement on X.

So they are literally doing the “mostly peaceful” line. The statement from Azov Brigade continues with an attempt to blame all of this on Russia: “We believe that the spread of the narrative about the possible connection between Azov and Ryan Wesley Routh is playing along with Russian propaganda and discredits the 12th Special Forces Brigade Azov of the National Guard of Ukraine and the Security and Defense Forces of Ukraine in general,” it added.

And yet, below is an example of something Rough posted to his social media. The GrayZone reported on it before it was deleted by Facebook administrators, presumably amid the FBI/Secret Service investigation: An official Ukrainian military enlistment form Routh posted on his Facebook page, which administrators have deleted.

But one thing is still indisputable based on the piles of public evidence. As geopolitical analyst Andrew Korybko says, “The suspect is a Ukro-maniac who’d been radicalized by the Mainstream Media into traveling to Kiev, trying to join the ‘International Legion’…”

Korybko further points out:

There’s no way that the earlier mentioned American “deep state” had no idea who Routh was after he’d already traveled to Kiev to try to join the “International Legion” and then openly told the New York Times about his plans to recruit Afghan soldiers that fled to Pakistan as refugees. He also brazenly boasted about how he’d purchase passports for them from there to facilitate their travel to Ukraine. The FBI might soon “do the meme” and admit that he was “on their radar”, but there’s much more to it.

The Newsweek interview… certainly the mainstream didn’t treat him as just some rando who happened to be passing through war-ravaged Ukraine.

Clearly, this doesn’t look like a guy who had no connections in Ukraine, or was merely some ‘war tourist’ on the sidelines as the Ukrainian government and Azov would have us believe. Again the question remains: what did the US government know about this radicalized individual and when did they know it? Did he have help from US government officials in his Ukraine travels and recruitment campaign? 

KING REPORT

The King Report September 16, 2024 Issue 7327

Independent View of the News

Would-be Trump assassin ID’d as Ryan Routh, 58, of Hawaii: sources Trump was rushed to safety after multiple shots were fired nearby… The agents opened fire on him, but he fled. Routh was later arrested on I-95 by local police… Ryan Wesley Routh, 58, has been identified as the suspect who was arrested after allegedly pointing an AK-47 assault rifle at former President Trump while he golfed, according to law enforcement sources.  Routh frequently touted his do-gooder credentials and championed left-wing causes on social media… He also visited Kyiv and claimed that he would be willing to fight on the front lines, if he were permitted to. https://t.co/ENbGVHDEl9   @charliekirk11: Trump’s round of golf was NOT on any public schedule.  How did the suspect know Trump was golfing there today? How did he get a semi-automatic rifle so close to Trump?   Col. Rob Maness ret. @RobManess: Two assassins, both attempts have all the indicators of highly planned, resourced, trained, and professionally executed operations. This conspiracy must be investigated but the DOJ, FBI, and DHS are compromised.   FA Gov. DeSantis: The State of Florida will be conducting its own investigation regarding the attempted assassination at Trump… Golf Club.  The people deserve the truth about the would be assassin and how he was able to get within 500 yards of the former president and current GOP nominee.   Son of alleged would-be assassin says his dad hates Trump like ‘all reasonable people’… https://www.dailymail.co.uk/news/article-13853755/Son-alleged-assassin-says-dad-hates-Trump-like-reasonable-people-hes-never-owned-gun-wouldnt-bats-crazy.html   @ClayTravis: Imagine what media coverage would look like if two different people had tried to kill Obama, including hitting him once, in two months. We didn’t have shots fired at a president for 43 years and we may have now had it happen twice in 60 days. Seems like kind of a big deal… Maybe lying about what Trump has said about Charlottesville for eight years, claiming he will end democracy if he’s elected, saying he’s Hitler, maybe that has an impact on delusional, crazy people.   @libsoftiktok: Facebook deleted his account the second his name was released… What’s it hiding…   @ChiefTrumpster: Footage of Trump Shooter Advocating for Ukraine Surfaces https://t.co/CAdRBCUJBY   @ScottMGreer: In 2023, the New York Times profiled the Trump shooter and his efforts to recruit foreign fighters for Ukraine.  https://x.com/ScottMGreer/status/1835456556176928943   @stillgray: Ryan Routh was an active recruiter for the war in Ukraine. This has spook written all over it.  https://x.com/stillgray/status/1835466988593811669   @jessiprincey: This is Ryan Routh’s Facebook account in full before it got scrubbed. (Recruiting for Ukraine and anti-Israel)  https://x.com/jessiprincey/status/1835466932826284247   Ex-Navy Intel official @JackPosobiec: There is no question that this guy had overlap with national security agencies given his activities in Ukraine.”   https://x.com/JackPosobiec/status/1835467674106912888   @Techno_Fog: The political donations of would-be assassin Ryan Wesley Routh: All to the Democrats. Something in common with the last shooter. https://t.co/bZzNd9ENOi   @gekaminsky: Looks like Ryan Routh has a bit of a rap sheet in North Carolina: including for “weapon law violations,” according to public records https://t.co/5PW0htYssP   Moments after assassination attempt of Trump, House Dem Leader Hakeem Jeffries attacks ‘Extreme MAGA’ Republicans – One person responded: “This kind of rhetoric caused another assassination attempt on President Trump.” STFU! (Dem, MSM hate speech re: DJT teems on X & FB) https://justthenews.com/politics-policy/all-things-trump/moments-after-assassination-attempt-trump-house-dem-leader-attacks   Fox’s @ChadPergram: GOP FL Rep Waltz on Fox: This rhetoric against President Trump, this this narrative that he will be the next dictator, that he is the next Hitler coming, it has got to stop. Enough is enough. Stop it on the left. For doing this. It is bad enough that we have an enemy of the United States, Iran with active plot to kill him, one of which was just stopped a few weeks ago. We now have multiple assassination attempts in a matter of months.   @ClayTravis: Kamala Harris called Donald Trump the biggest threat to America since the Civil War on Tuesday. On Sunday someone tried to kill him. @RealEJAntoni: National financial conditions are loosening again, back to lowest reading since Nov ’21; leverage remains relatively stable as most of the loosening has come from credit – b/c apparently we never had any rate cuts, or at least they’re all about to be reversed… https://t.co/3agwxSkidz   Ex-Fed Member Dudley Sees Case for Half-Point Rate Cut Next Week: BBG “I think there’s a strong case for 50,” Dudley said on Friday at a forum organized by The Bretton Woods Committee in Singapore… Dudley, who led the New York Fed until 2018, is a Bloomberg Opinion columnist and now chair of the Bretton Woods Committee… https://finance.yahoo.com/news/ex-fed-member-dudley-sees-024218443.html   Didn’t Dudley, the ex-GS chief economist and head of NY Fed say the Fed should prevent Trump from being re-elected in 2020?  Isn’t the Bretton Woods Committee a gang of globalists?   The Bretton Woods Committee: Who We Are The Bretton Woods Committee is the preeminent non-profit organization dedicated to effective global economic and financial cooperation…  (Anti-MAGA; no wonder B-Dud fears Trump!) https://www.brettonwoods.org/page/about-the-committee   Dudley August 27, 2019: Trump’s ongoing attacks on Powell and on the institution have made that untenable. Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks — including the risk of losing the next election.      There’s even an argument that the election itself falls within the Fed’s purview. After all, Trump’s reelection arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020… https://financialpost.com/news/economy/the-fed-shouldnt-enable-donald-trump   @Geiger_Capital: Claudia Sahm was just on CNBC saying that the Fed “must absolutely” cut by 50bps because unemployment will continue to climb… 6 months ago she said her rule wouldn’t trigger this time and unemployment would stay low. She blocked me for saying she was wrong.    @his_eminence_j: She blocked me too for asking why her rule only works when Repubs are in office.   Physical gold and gold futures hit all-time highs on Friday.  Stocks rallied robustly; but USUs were only +3/32 at the European close.  The dollar was down smartly; the yen/$ hit 140.29.   The drumbeating for a 50bp rate cut has gotten more intense; and yes, Virginia, part of it is a scheme to boost Harris because globalists detest and dread Trump.  And when it comes to stopping Trump, ‘they’ ignore all laws, customs, and ethics.  Anything and everything is permissible if it hurts Trump!   Trump said he would allow Powell to finish out his term if Powell ‘does the right thing.’  If the Fed cuts 50bps, Powell is finished – and the cut will do little to boost the economy over the next 1.5 months. ESUs traded mostly positive but sideways from the Nikkei opening until they broke higher near the end of Asian trading.  ESUs returned to trading sideways with an upward bias until they soared minutes after the NYSE opened.  ESUs gyrated higher with volatile declines until they broke lower at 14:20 ET.   Too many traders were long; so ESUs struggled in late trading.  ESUs hit a bottom of 5621.00 at 15:00 ET.  The last-hour rally took ESUs to 5634.25 at 15:55 ET.  ESUs slid to 5627.00 at 16:00 ET.   96% of Boeing employees vote for strike after rejecting latest contract offer Today, more than 33,000 union workers, mostly in Washington, brought Boeing airplane production to a halt with a strike…   https://kmph.com/news/nation-world/boeing-machinists-face-pivotal-decision-accept-contract-or-strike-iam-district-751-kelly-ortberg-airplanes-labor-contract-company-increase-wages   While the usual suspects are euphoric that the Fed is about to commence a rate-cut cycle, there is mounting evidence that disinflation might be ending.  You can imagine what mushrooming deficit spending to boost the US economy for the election plus Fed rate cuts will do!   @RealEJAntoni: While headline CPI’s annual change has fallen from 3.0% to 2.5% in the last 2 months, median CPI hasn’t budged, holding steady at 4.2% while trimmed-mean and core fell just 0.1 percentage points; there are still widespread price increases throughout the economy. https://x.com/RealEJAntoni/status/1834626288058822794   Yes, Virginia, inflation can increase during recession.  In fact, it’s a staple of socialism!   @Convertbond: U Michigan Consumer Sentiment – September Election Years   2024: 69.0 2020: 74.1*** 2016: 91.2 2012: 78.3 2008: 70.3** 2004: 94.2 2000: 106.8 1996: 94.7 1992: 75.6 1988: 94.1 1984: 96.3 1980: 73.8*   *Jimmy Carter, **Lehman, ***Covid   The party in power lost the White House when UM Consumer Confidence was under 78.3%.  It is now 4.8 points lower than 1980, when Reagan won in a landslide.  (Carter 41%, 3rd party Anderson 9%!)   Positive aspects of previous session Equity indices rallied robustly and most are near all-time highs; USUs were +6/32 at the NYSE close.   Negative aspects of previous session Precious metals, gasoline, oil, and industrial commodities rallied sharply.   Ambiguous aspects of previous session Will equity indices peak soon after hitting all-time highs?   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Up; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: 5621.31 Previous session S&P 500 Index High/Low: 5636.27; 5601.65   For the past 20 years, the S&P 500 Index has led CPI y/y with a varying lag.    CPI y/y vs. S&P 500 Index – Guess what’s coming, Jerome?   Except for the Hunt bailout of March 1980 through June 1980, Fed Funds were positive in real terms for 23 years.  Fed funds have been positive vs. CPI y/y since March 2023.   CPI y/y vs. Fed Target Rate – Have Fed funds been positive in real terms for long enough?   @WojPawelczyk: Polish MEP Grzegorz Braun on Antony Blinken visiting Poland today: “Blinken, go home as soon as possible. Get lost! We don’t want you here. We don’t want Polish people paying and dying for your wars.” https://t.co/p4R2XMoJjU   Ex-CBS top investigative reporter @laralogan: This is absolutely staggering – when have you ever heard anyone anywhere on the planet deliver a public rebuke of this nature to a sitting US Sec of State??? That is a big f*** you to the deep state. And it is proof that they are losing everywhere – we just don’t see it clearly because this is a covert war.   ‘You be quiet’ Biden tells reporter asking about Putin’s threat of war with US https://trib.al/3sUOD0M   Mark Penn & Andrew Stein Op-ed in WSJ: ABC’s Bias Deprived Voters of a Fair Debate They called Trump out on every falsehood but let Harris get away with one lie after another.     Fact checking only one candidate was the worst possible decision… ABC undermined the system for everyone.  (Penn ex-top Clinton aide & pollster; Stein ex-NYC Council President 1986-1993) https://www.wsj.com/opinion/abcs-bias-deprived-voters-of-a-fair-debate-2024-presidential-election-trump-harris-01410617   Here is the alleged affidavit from the ABC whistleblower.  It claims Harris campaign insisted on fact checking Trump; no fact checking Harris; NO questions about Biden’s health or Kamala’s SF AG ‘tenure’ or her brother-in-law Tony West, who allegedly is under investigation for embezzling billions.  The complaint claims Speaker Johnson has received the affidavit.  The whistleblower claims to have recorded conversations, and Harris was given sample questions that were similar to the actual questions. https://x.com/DocNetyoutube/status/1835358499548602666   The MSM published the ‘Dossier,’ Russia interfered in 2016, and Hunter’s PC was Russian disinformation.  So, why not view allegations that are detrimental to a Dem candidate?   (Ex-ABC News political director) Mark Halperin Says ‘Dirty Little Secret’ Is Harris Campaign Pushing for Rematch Because She Didn’t Do Well Enough https://dailycaller.com/2024/09/13/mark-halperin-dirty-little-secret-harris-campaign-pushing-rematch-didnt-well-enough/   @AlphaNewsMN: NEW: A new MinnPost/Embold Research poll has Kamala Harris leading Donald Trump 48.8% to 44.6% in Minnesota. Harris was leading by as much as 10 in a separate poll in July.   @Rasmussen_Poll: Now with 2.5 nights of post-debate data. (DJT +6; underestimated DJT 1.5 in 2020) https://x.com/Rasmussen_Poll/status/1834578211725824350   https://x.com/EricLDaugh/status/1834970852531573079/photo/1   @LeadingReport: Trump has an almost 50-point lead over Harris Electoral College win probability, according to RCP and Silver Bulletin. Trump – 74.3% (+49.5), Harris – 24.8% https://x.com/LeadingReport/status/1834993918951538898/photo/1   RCP (Real Clear Politics) underestimated DJT in both 2016 (1.1) and 2020 (by 2.7). https://www.realclearpolitics.com/epolls/2020/president/us/trump-vs-biden-national-polls-2020-vs-2016/   ATLAS POLL – US PRESIDENTIAL ELECTION: Trump’s advantage over Harris expands to 2.9pp in the national popular vote. In the previous AtlasIntel release in July, the difference was 2.1 points. Trump: 50.9% (+0,8), Harris: 48.0% (-) 09/11-09/12, 1775 respondents, 2pp MOE … AtlasIntel was the most accurate pollster of the 2020 US Presidential Cycle with an average error of 2.2 pts.  https://x.com/atlas_intel/status/1835070367310004405   Trafalgar 2.6% average error was 2nd best in 2020; Rasmussen 2.8% was 3rd.  All have Trump leading. https://x.com/NateSilver538/status/1375095262516027392   @EricLDaugh: Kamala Harris’ national lead declines to 1 point after the AtlasIntel poll. In a scenario like this, Trump’s odds of winning the election stand at about 75%-91%. https://x.com/EricLDaugh/status/1835081065024905320   Swift endorsement turns more voters from Harris than it attracts: poll (Win tweens, lose adults!) A new post-debate poll from YouGov released Saturday found that 8% of voters said the pop superstar’s nod is either “somewhat” or “much more likely” to convince them to cast their ballot for the Democrat. But a whopping 20% said they are “somewhat” or “much less likely” to vote for former President Donald Trump’s opponent now that Swift has spoken… https://nypost.com/2024/09/14/us-news/more-voters-to-vote-against-harris-than-for-after-swift-endorsement-poll/   @EndWokeness on Friday: Biden, Harris, and Trump all visited the same exact PA fire station yesterday. See if you can spot the difference… (Silence for Joe & Kamala, enthusiastic applause for DJT) https://x.com/EndWokeness/status/1834291866751180893   The NYT is preparing Americans for election night & post-election chicanery: “For the second straight presidential election, it is becoming increasingly likely that there will be no clear and immediate winner on election night and that early returns could give a false impression of who will ultimately prevail…     If a winner is not declared on election night, it will not necessarily point to failures in the process. More likely, it will be a result of the intense security measures required for counting mail-in ballots.”   China released disappointing economic data on Saturday.Aug M1 -7.3% y/y, -6.7% expected, -6.6% priorAug M2 6.3% y/y, 6.2% expectedAug Retail Sales +2.1% y/y; 2.5% expectedJan-Aug Fixed Investment +3.4% y/y; 3.5% expectedAug Industrial Production +4.5% y/y, 4.7% expectedAug Used Home Prices -0.95% m/m; -0.8% expectedAug New Home Prices -0.73% m/m; -0.65% expectedJan-Aug Residential Property Sales -25% y/y, -25.9% expectedJan-Aug Property Development Investment -10.2% y/y, -10.0% expected  Today – This is Fed Week and Expiry Week.  Stocks tend to rally into Fed Day, and there is usually manipulation to squeeze expiry calls.  Yes, Virginia, traders are over-the-moon bullish.   Expected Economic Data: Sept Empire Manufacturing -4.0   NQUs are -28.00; ESUs are-3.00; the Yen/$ is 140.53; and USUs are -1/32 at 21:20 ET.  S&P Index 50-day MA: 5511; 100-day MA: 5406; 150-day MA: 5310; 200-day MA: 5173 DJIA 50-day MA: 40,377; 100-day MA: 39,662; 150-day MA: 39,378; 200-day MA: 38,884 (Green is positive slope; Red is negative slope)   S&P 500 Index (5626.02 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 positive – a close below 5560.20 triggers a sell signal Hourly: Trender and MACD are positive – a close below 5590.24 triggers a sell signal   Team Obama-Harris has Kamala doing one-on-one interviews will local media.  The first was a disaster.   On Friday on ABC Philadelphia, when asked for specifics on how she will lower prices Harris said: “I will start with this.  I grew up a middle-class kid… I grew up in a community of hard-working people … I grew up in a neighborhood of folks who were very proud of their lawn. Ya know?  And I was raised to believe and to know that all people deserve dignity.  And that we as Americans have a beautiful character…  We have ambitions and aspirations and dreams… but not everyone necessarily has access to the resources that help them fuel those dreams and ambitions.   So, when I talk about growing an opportunity economy it is very much with the mind of investing in the ambitions and aspirations and work ethic of the American people… to start a small business…” (The question was ‘give one or two specific ways that you will lower prices!  This is why ‘they’ keep her under wraps!) https://x.com/TrumpWarRoom/status/1834717120510541835     FA Gov. @RonDeSantis on Friday: She’s adding some vapid vinaigrette to her usual word salad…   @WesternLensman: Kamala, at the debate, asked about specifics on the economy: “I grew up a middle class kid.” Kamala, three days later, asked about specifics on the economy: “I grew up a middle class kid.”  https://t.co/go9rgyXdK0   @TrumpWarRoom: Reporter: How are you different from Joe Biden? Kamala: *Nervously repeats herself and fails to explain how she’s different from Joe Biden*  “I offer a new generation of leadership … developing an opportunity economy… investing in areas that need development… $6k family tax cut… My approach is new ideas, new policies that are directed at the current moment… My focus is very much in what we need to do for the next 10-20 years to catch up to the 21st century around, again, capacity, but also challenges.” (Not a parody!)  https://x.com/TrumpWarRoom/status/1834716706666578202 https://x.com/TrumpWarRoom/status/1834722968833839612   Harris said, “For some many younger American, the American Dream is elusive — it’s just actually not attainable.”  https://x.com/CortesSteve/status/1834750916672573589   @greg_price11: Kamala: “For example, thinking about developing and creating an opportunity economy where it’s about investing in areas that really need a lot of work and maybe focusing on again the aspirations and the dreams but also just recognizing that at this moment in time some of this stuff we could take for granted years ago, we can’t take for granted anymore.” (Risible word salad) https://x.com/greg_price11/status/1834722016525524996        (full Harris interview at link, ~ 11 minutes) https://x.com/TrumpWarRoom/status/1834739500980777080   Kamala Harris sticks with ABC for first solo interview since slanted debate — and still serves up word salad https://t.co/DCRUBoEyV1   @tomselliott: Maybe someone has already mentioned this, but the rambling answer Kamala Harris gave last night on inflation is not what @6abc actually aired. Instead, they edited her response so that it went straight to her “policies.” Compare/contrast the two clips below. https://x.com/tomselliott/status/1834996437391733050      @StephenM: ABC is hopelessly corrupt.      @HansMahncke You might have thought that ABC would have learned a lesson from their debate fiasco, but you would be mistaken.   Team Obama-Harris has instructed Kamala to regurgitate these phrases: “new generation of leadership, opportunity economy, areas that new development, family tax cuts, new ideas, middle-class kid…”   Harris economic initiatives: Increase family tax credit (stole from DJT); $50k tax credit for startups; and $25k for first-time home buyers.   Kamala Harris goes to Trump country in Pennsylvania but gets called a ‘war criminal’ by members of her own crowd – ‘And I respect your voice, but right now – I am speaking.‘…   https://t.co/jxQu05KpgL   Harris interrupted multiple times by pro-Palestinian protesters as she rallies in Wilkes-Barre, Pennsylvania https://t.co/qzYv1skQnS   @LucasFoxNews: Kamala Harris Tuesday: “As of today, there is not one member of the United States military who is in active duty in a combat zone.”  U.S. military’s Central Command Friday: American commandos killed 4 ISIS leaders in Iraq last month.   @atensnut: Deployed Military reacting to Kamala’s lies about not being deployed. (“Where! What!  So, where the F*** are we right now!”) https://x.com/atensnut/status/1834690569710301520   Hedgie titan @BillAckman: @KamalaHarris reminds me of Chauncey Gardiner in the film Being There.   In Harris becomes president, the US will be a Looney Tune wrapped in Pee Wee’s Playhouse inside a Twilight Zone episode.   @TimMurtaugh on Friday night: Kamala Harris is getting roasted over her first solo (taped) TV interview tonight and there are no Democrat accounts out here defending her.   On Saturday night, at the Congressional Black Caucus Foundation Dinner, Harris used her black accent and issued her widely mocked ‘unburdened by the past word salad.  She really needs new material.   @TrumpWarRoom: Kamala speaking in her fake accent says “hello to all my divine 9 brothas and sistas” followed by a loud cackle https://t.co/DJ3NUqC10j   Harris: “A future where we can see what is possible unburdened by what has been.” https://x.com/TrumpWarRoom/status/1835120696663372241   “The first battle ground is to rewrite history to be unburdened by what was.” – Karl Marx (No one is debunking this; but it could be a paraphrase of what Marx said.)   CNN has turned on Harris-Walz: Harris campaign social media account has repeatedly deceived with misleading edits and captions – A social media account run by Vice President Kamala Harris’ campaign has been repeatedly deceptive… https://www.cnn.com/2024/09/14/politics/fact-check-harris-campaign-social-media/index.html?s=02   Voters outraged after Harris shuts out ‘working poor’ from ‘MAGA land’ rally: ‘She’s hiding’ But in Johnstown (PA), both the airport and bookstore were by invitation only – to the chagrin of voters who wanted to hear what the vice president could offer their left-behind city. “She’s hiding from most of the people,” Ed Luce told The Post. “She needs to convince a lot of the working poor people.”… https://t.co/PurETEjf26   @megbasham: Washington Post sounds the alarm today that the “eating the cats” memes and mockery are backfiring and helping Trump.  Especially noteworthy given that NYT/Siena and Rasmussen polls have Trump up +2.  https://t.co/syIr3thdLq   Tim Walz tells democrats to confront people “in the produce aisle” and ask them if they’ve voted Has Tim Walz seen grocery prices lately? Has he been inside a grocery store in the last 4 years?  It’s not exactly where Kamala voters will be ripe for harvest… https://notthebee.com/article/tim-walz-tells-democrats-to-confront-people-in-the-produce-aisle-and-ask-them-if-theyve-voted   Just a few weeks ago, Walz implored Americans to “leave people alone!”  You can’t make this up! @DrewHLive on Sat: Tampon Tim and his wife have to talk to their voters like a bunch of kindergarteners at their rallies. This is brutal! (Teaches a crowd the ‘turn the page gesture.’  ‘Turn the page from what?  Biden-Harris?) https://x.com/DrewHLive/status/1835055210101977153     @greg_price11: These are the people who are telling us that Republicans are the weird ones.   It’s incomprehensible that Team Obama-Harris-Walz are running on ‘new leadership’ & ‘change!’   How migrant gang Tren de Aragua became a vicious criminal force across America: ‘They’re coming and they’re taking over’ https://t.co/Kz1j0D6nXR   @ByronYork: Trump campaign sending out new Justice Department report on crime victimization, urging ABC debate moderators to read it. Bottom line on violent crime: Up. https://bjs.ojp.gov/document/cv23.pdf   DOJ releases 2023 crime statistics, Trump campaign fact checks ABC https://t.co/J7tqoO6nWn   @TrumpDailyPosts: People are saying that Comrade Kamala Harris had the questions from Fake News ABC. I would say it is very likely. The two so-called “Anchors” were a disgrace to Modern Day Journalism. David Muir should be ashamed of himself, as should Linsey Davis… were nasty and rude when they were making statements that they knew were false. As an example, the FBI said they didn’t give all the information when coming up with Crime stats, making me RIGHT. Despite having to debate three people, Polls firmly state that I won, and EASILY. I felt that also, but no Politician should ever do a Debate with ABC News. They have proven NOT WORTHY, and hopefully an investigation will be done as to whether or not they gave the Debate questions to Comrade Kamala, whose best friend is a top ABC Executive. If she did give the questions to Kamala, ABC’s license should be TERMINATED. Remember, Donna Brazile works for ABC, and she gave the questions to Hillary Clinton!   @AndreaTantaros: The Mayor of Springfield, OH has made multiple trips to Haiti. He, and the entire City Council, received financial kick-backs for importing $20,000+ illegal aliens.  Its why they ignore the pleas of residents…   @americasgreat: Mayor Robert Rue, Springfield, Ohio… seems to own quite a bit of rental properties in Springfield under the name LITTLETON PROPERTIES OF SPRINGFIELD LLC, images attached. He directly owns these properties based on a county business search. If Mayor Rue is renting out his properties to illegals the public should know. He should recuse himself from any vote on the Commission because he directly benefits financially from any federal funds received to support the illegals. https://x.com/americasgreat/status/1834954588761317723   Did you know that Ohio Governor Mike DeWine (GOP) and his wife run a school in Haiti?  No wonder Ohio officials are mum or in denial about what Haitian immigrants doing in Ohio!   Ohio Gov. DeWine’s deep connections to Haiti inform response to Springfield controversy The Republican governor has an extensive connection to Haiti. In 1998, DeWine and his wife, Fran, began their support of the Becky DeWine School, named after the DeWines’ daughter who was killed in a 1993 car accident at 22 years old…  https://www.daytondailynews.com/local/ohio-gov-dewines-deep-connections-to-haiti-inform-response-to-springfield-controversy/M5HTIUUODNE4FIUPQ2AHDQSIHA/   Springfield residents turn on John Legend after Ohio town’s most famous son urges them to embrace 15,000 Haitian migrants … from comfort of his Beverly Hills mansion https://www.dailymail.co.uk/news/article-13845861/Springfield-Ohio-john-legend-haitian-migrants.html   KPRC Houston: Three cats found mutilated, cut in half in Houston’s East End The Houston Police Department needs your help finding out if someone is killing cats or if this is the result of an animal attack… https://www.click2houston.com/news/local/2024/09/13/its-disgusting-three-cats-found-mutilated-cut-in-half-in-houstons-east-end/   @AnthonyScottTGP: Resurfaced video from 2001 shows Obama reading the passage of his book where he talks about eating DOG MEAT: “With Lolo, I learned how to eat small green chili peppers raw with dinner (plenty of rice), and, away from the dinner table, I was introduced to dog meat (tough), snake meat (tougher), and roasted grasshopper (crunchy), https://x.com/AnthonyScottTGP/status/1835053384862167196   Babylon Bee: Taylor Swift’s Cats Endorse Trump   Trump trolls Taylor Swift with mock Eras tour T-shirt days after she endorsed Harris for president https://trib.al/DTGyxYs   Buses keep showing up at Harris rallies.  Trump slammed her for busing people to her rallies.   @nicksortor: Over a DOZEN busses are rolling up to the Kamala Harris “rally” in North Carolina, dumping HUNDREDS of people out front… https://x.com/nicksortor/status/1834306539521499225   @TonySeruga: GPS—5,003 mobile devices at Kamala Harris’ rally in Charlotte, North Carolina, on Thursday afternoon at Bojangles Coliseum. It appears over 3,600 came from Georgia. Mainly Atlanta, Georgia and approximately 720 from Savannah, Georgia. https://x.com/TonySeruga/status/1834357902146241010      ~90% have been to 3+ rallies. 54% were even at Arizona and Nevada rallies.      @T_S_P_O_O_K_Y: Yep…geo-tracking phones is a clear indicator of how @KamalaHarris is manipulating, desperately, the crowd sizes to create the illusion of popularity…   @EndWokeness: Busted: California Congressman Robert Garcia is BEGGING Californians to help fill up the campaign rally for Harris in Las Vegas. Free bus and hotels provided. They did this in NH and NC.  (“Now we are down to 2-3 seats left on the buses… Bus and your hotel room are covered…”) https://x.com/EndWokeness/status/1834667661902725522    Harris’ campaign on Thursday said it would change tactics.  So far, it has not happened.  Harris is still running on ‘Bad Orangeman’ and continues to issue blatant lies (scare tactics) about DJT.   Kamala Harris falsely accuses Trump of wanting to cut Social Security at lie-filled North Carolina rally https://trib.al/wfAcKaE   Biden, Dems, Orpah, Michelle Obama, and the media pounded Trump for saying illegal immigrants are taking “black jobs.”  On Friday, Biden invoked “black jobs.”   @RichSementa: Biden in July:  I love [Trump’s] phrase Black jobs. Tells a lot about the man and about his character.  Biden Today: We created over 2 million Black jobs. Michelle Obama: Who’s gonna tell him that the job he’s currently seeking is a Black job? https://x.com/RichSementa/status/1834655890625990804   @TrumpWarRoom: @JDVance: “Dana, would you like to ask me questions and let me answer them or debate me on these topics? I noticed that when you had Kamala Harris and Tim Walz, you gave them multiple choice answers to the questions you asked…” https://x.com/TrumpWarRoom/status/1835314334794195432   Fox’s @JesseBWatters: NEW @SecretService BOMBSHELL: Sen Josh Hawley says the Lead Secret Service advance agent was a woman from Pittsburgh’s field office. She FAILED a key exam, but disgraced former director Kim Cheatle promoted her anyway. Now Homeland Security is telling the Secret Service to cover the whole thing up.  https://x.com/JesseBWatters/status/1834395165043368246   Soros-funded group’s leader visited the White House, claimed credit for Trump’s NY prosecution Rashad Robinson, the president of Color of Change, visited the White House at least five times over the course of the Biden Administration, according to White House Visitor logs. Robinson would go on to call the criminal case against Trump “the fruits of our labor.”… https://justthenews.com/accountability/political-ethics/president-soros-funded-group-visited-white-house-claimed-credit   State Department tried to discredit reporters, Republican pol over conservative ‘blacklist’ – as part of damage control attempts over having helped fund an advertisers’ “blacklist” of The Post and other outlets allegedly spreading “misinformation,” according to internal documents... https://trib.al/moaiQYU   @FoxNews: ‘RIGHT-WING SYMBOL’: Sports columnist Skip Bayless’ stunning admission about why he’s been hesitant to publicly support women’s basketball sensation Caitlin Clark is raising eyebrows: Bayless revealed that he was actually in awe of Clark’s ability, and it was the main thing that got him to start watching the WNBA this year. However, he revealed that the reason he did not buy into the Clark excitement early on was because of “guilt,” and not wanting to stir racial division… https://trib.al/OmZQF1C   Pope Francis scolds Trump and Harris, instructs American voters on election choice: Pick ‘the lesser evil’ (Like many others, that’s exactly what we will do!) https://trib.al/ndnjYLY   IRS whistleblowers file $10M defamation lawsuit against Hunter Biden’s attorney: ‘Incredible and malicious harm’ https://trib.al/lUC2Mmp   “Fulfilling Biblical Prophecy”: Group of Israelis Restore King David’s Family Tomb Isaiah 11:10, which states Jesse’s “resting place will be glorious.”… Jesse and Ruth were King David’s father and great-grandmother, respectively. https://www.dailywire.com/news/fulfilling-biblical-prophecy-group-of-israelis-restore-king-davids-family-tomb   There have been beaucoup impact archeological discoveries in the Middle East over the past few years.

GREG HUNTER

Threat of WWIII is NOT Fear Porn – Steve Quayle

Threat of WWIII is NOT Fear Porn – Steve Quayle

By Greg Hunter On September 14, 2024 In Political Analysis12 Comments

By Greg Hunter’s USAWatchdog.com

Renowned radio host, filmmaker, book author and archeological dig expert Steve Quayle is sounding the alarm on the increasing possibility of nuclear war between NATO and Russia.  Quayle says, “The threat of nuclear war is not fear porn–it’s real.”  Quayle is not alone because for the second year in a row, the Bulletin of the Atomic Scientists says, “A moment of historic danger: It is still 90 seconds to midnight.  2024 Doomsday Clock Statement.”  Today’s escalation is caused by the fact that NATO is contemplating allowing Ukraine to fire long range missiles deep into Russia. 

Now, breaking news that the Biden Administration did give the go ahead to fire long range missiles into Russia from Ukraine.

There is also this breaking headline from the Asian Times:  “Biden, NATO effectively declaring war on Russia.”

Quayle warns, “This is not a trial run, the Bay of Pigs or the Cuban missile crisis.  This is World War III. . . .We are seeing people crazy or people demonically possessed, in my opinion, talking about launching western missiles, German, British or US missiles into Russia.  The Russian Ambassador to the UN said on Friday (9/13/24), ‘If you do that, we will consider it an act of war against Russia, and all options are open to us, and none of your countries are safe.’   That’s the bottom line.  All these years you warn ahead of time, and they mock you saying fear monger and fear porn. . . . Well, we are at the inception point for World War III.  This will not be getting any better.”

There have been nearly zero talks of peace in Ukraine, only requests for more weapons and more escalation with Russia.  So, NATO is clearly wanting to start a world war.  It’s not just Russia we will be fighting, but China, North Korea and Iran, too.  Quayle says, “This is what is so pertinent about this show because, this weekend, everybody (NATO) is talking about giving President Zelensky (Ukraine) the okay to launch against Moscow, which will result in the thermal nuclear detonation of over 100 targets in the United States and another 100 targets plus in Europe.  NATO Headquarters will be toast.  D.C. will be toast. . . . The Bible has made this clear if God did not shorten the days for the elect, that’s the people who have accepted Jesus as Lord and Savior, there would be no flesh left alive.  So, as we sit here podcasting, 250 million Americans are at risk.”

Even if nuclear war does not break out and the world gets a reprieve for a while, the financial system will not be fixed.  JPMorgan CEO Jamie Dimon is warning of something coming that is “worse than recession.”  In simple terms, Quayle says, “Dimon is warning because the banks are in deep doo-doo.  Last week, you may remember billionaire Warren Buffett started dumping Bank of America stock. . . . I am told that Buffett dumped, all told, up around $50 billion in BofA stock. . . . When Buffett does some like this, people notice and they followed suit.  The banking stocks are in deadly peril.  I have been in the precious metals business for 35 years, and we are now watching clients being blocked for sending wire transfers.  I am talking about the biggest 5 or 6 banks because they are running short on cash. . . . At some point, they will cut off all credit cards.  I don’t know when that will be, but eventually, they will be stopped.  This is what my sources tell me is going to happen.  The ‘when’ is up to God.”

There is much more in the 1-hour & 5-minute interview.

You can find all the products Steve Quayle mentioned at Darkbags.com.

Join Greg Hunter of USAWatchdog.com who goes one-on-one with Steve Quayle as he talks about WWIII, demons behind it, economic collapse and many bags to protect your privacy from spying and even some bags that will stop bullets.  You can check out the wide variety at Darkbags.com.

After the Interview:

Escape Zone bags from Darkbags.com come in a wide variety of sizes.  They also come in styles for men, women and school children.  There are two back pack bags that offer electronic security as well as a ballistic shield that will stop most hand gun rounds.  All the bags protect your data but also protect your body from EMP and radiation.  It does this by using cutting-edge, Faraday signal blocking technology.

Go to Darkbags.com to see all the styles and choices.

To see the trailer for “Earth in the Crosshairs” or buy it, click here.

SEE YOU ON TUESDAY//